With Christmas only a few months ago and Easter just around the corner, we can understand that sometimes finances can be tight - regardless of your situation. Here at Summerland we have put together half a dozen finance tips that will having you hopping to financial success!
- Be a good egg There’s no better time to start saving than right now, so get your eggs all lined up and get started! Putting aside 10% of everything you earn is a good rule to live by. By adopting this rule of thumb, as a teenager, you can quickly save a deposit for your first car, as a person in your mid-twenties you’ll build up a healthy house deposit sooner and when you’ve got a family you can afford to take that dream holiday around Europe!
- How long do eggs last? When you’re shopping around for the best fixed rate home loan, or even the most attractive savings accounts, be sure to read the small print as well as the terms and conditions. You don’t want to make the mistake of buying a box of eggs that are going to go off next week!
- Don’t put all your eggs in one basket Like eggs, all financial institutions look different! That’s why it’s always good to do your research and write a list of the key points you’d be looking for in organisation that’s going to look after your money, before hastily rushing to make a decision that you may end up regretting! If it’s the opportunity to have low rates and be a customer of an ethical institution that gives money back to local organisations and also gives you the opportunity to be an owner of the business…look no further!
- Don’t count your chickens before they hatch Not just with your finances, but in all aspects of life it’s very dangerous to rely on something before it happens. Having the expectation that all your hopes will be fulfilled can lead to financial trouble. For example, agreeing to buy a car from a car dealer before your personal loan has been approved can have some pretty dire outcomes, or bidding for a house at auction before obtaining approval from your financial institution. Make the necessary financial arrangements in advance so you can avoid having egg on your face!
- Don’t get too egg-cited! Picture it…you’ve seen the latest Fabergé egg in the shop window that you want to add to your Easter Egg collection, and you NEED to buy it. If you can have some self-control and wait one month without purchasing it, you’ll most likely change your mind and ultimately save yourself a lot of money. No one really needs a Fabergé egg!
- Are your finances scrambled or fried? Life always gets in the way of our finances. This is why getting a Money Health Check is a good way to gauge where your money is going and how you can stream line your finances to be more organised and financially efficient. Visit one of our branches to see how we can help you.
