One of the first things you should do when you’re starting to think about your finances is to prepare a basic budget.

If you visit ASIC's MoneySmart, you’ll find they have a great budget calculator to help you personalise your own budget. By knowing how much money you earn, and how much you spend, you can then start thinking about what you might do with what’s left over! 

Something worth considering is contributing more to your super. Building up super from your own money is generally an excellent investment, thanks to tax concessions and other Government benefits. Getting started well before you retire is far better than a last ditch effort a few years before retirement.

Can you spare the money?

It’s important to remember that after you put your money into super it must stay there until you retire. Make sure you weigh up the benefits of extra super against your other priorities, for example:

• paying off your credit cards or other personal debt
• saving up for a home, starting a family or continuing study
• making extra payments on your mortgage
• building up other investments e.g. managed funds, share portfolio.

A financial planner can help you with your budget and also setting up financial goals and strategies to achieve them.

Want to discuss your goals?

As a member you have access to a qualified financial planner at a reduced rate through Health Super Financial Planning. To start your retirement planning and/or to consider your future years call Health Super Financial Planning on 1300 780 223.

Health Super Financial Services Pty Ltd ABN 37 096 452 318, AFSL 240019 trading as Health Super Financial Planning (HSFP) is wholly owned by the FSS Trustee Corporation ABN 11 118 202 672 AFSL 293340 Trustee of the First State Superannuation Scheme ABN 53 226 460 365.
The Trustee pays HSFP half of the annual 1% account-keeping fee collected on all Health Super Account Based Pensions. The Trustee also pays a variable monthly amount (calculated on a cost recovery basis) to HSFP to conduct member seminar programs. The Trustee is not a representative of HSFP and receives no commissions when making referrals to this service. To obtain further information about the services provided by HSFP, contact HSFP direct by telephoning 1300 780 223. Alternatively, visit  HSFP’s website at hsfp.com.au