Here’s a few New Year’s Resolutions that might help you get there sooner.

Set a better budget for 2016.

Many people don’t bother to set a budget forthemselves and wonder why their savings grow so slowly. To create a budget, make a worksheet that itemises everything you need to spend money on every week. One of these items should be an amount of money you put into your mortgage deposit savings account.  Stick to your budget and you’ll have a better chance of achieving your savings goals.

Spend less and save more.

To make your new budget truly effective, you need to sit down and take an honest look at what you actually spend your money on. For example, do you budget $100 a week for food, but actually end up spending a lot more? Take a serious look at where you could be saving money – could you purchase cheaper brands when you shop? Could you cut out some luxuries like those expensive morning coffees? Every little bit helps and you’ll be surprised how quickly the extra dollars can add up!

Save money on interest repayments.

Many of us get to the end of January and realise that Christmas shopping has blown out the credit cards and left us with the prospect of big interest repayments in the year ahead.  If you need to save money on interest, consider looking for a new card with a 0% p.a. balance transfer offer (just make sure you cancel the old cards when you transfer the debts to the new one). Or talk to us about the possibility of consolidating your credit card debts with a personal loan to see if you could save on interest costs whilst you repay.

New Year’s Resolutions for home owners and property investors

Getting a mortgage – or even a portfolio loan – is not a set and forget proposition. To make sure you come out ahead at the end of the day, you need to constantly stay on top of the situation.

Here’s a few New Year’s Resolutions that might help.

Get a home loan health check. Whether you’re a home owner or a seasoned property investor, keeping on top of the loan market could make a big difference to your financial future. Lenders are constantly updating their loan offers, so make a point of talking to us at least once in 2015 to make sure your loan is still the best one the market has to offer you considering your personal financial situation and goals.

Put your equity to good use. Talk to us about getting a valuation on your existing property holdings so you can assess how much equity you have. We can also discuss the possibility of you using that equity to make another property purchase to grow your portfolio in the year ahead.

Stay on top of the market. Research is the key to success, particularly if you’re a property investor. Make sure you’re always aware how your investments are growing. Research rental returns in your area to make sure your own are keeping up with the market. It’s a volatile property market at present, so continue looking for areas where you may be able to invest to your advantage – or assess whether it’s time to sell to capitalise on your profits.

Whatever your plans are for 2016, remember we are part of your team! Talk to us about your financial goals and property aspirations and we might be able to help you formulate the Property New Year’s Resolutions you need to make to get there. Call us to chat, anytime!