Near the top of your new year’s resolution list you probably have ‘save more money’ or ‘get out of debt’. But, do you have the tools in place to know how?

Personal debt is increasing, and it’s country-wide. Australia is now reported to have some of the highest personal debt levels in the world. Mortgages, investments, business loans, personal loans, car loans, student loans, and credit cards all adds up, so it can become a constant battle to make ends meet.

We are trying to tackle this issue head on, and education is key! Budgeting and the real cost of debt is an essential life skill, however it wasn’t until 2011 that the Australian Government included financial literacy in the national school curriculum.

Sometimes, we just may not have enough knowledge of the financial system to make informed choices and it is significantly more complicated now than it was a few decades ago. To make things worse, money is becoming invisible. You pay with a card or phone, you pre-pay over the internet, and can have up to three years of store credit. These are all new, easier options for consumers, but can you keep tabs on it all?

Through our Smart Money Program, Andrew Dalton at MI Wealth, a division of Taxpro, can help you understand your spending habits and review your finances when circumstances change.

Give us a call to arrange a consultation, or visit our financial planning page to book a meeting online.