Deck the halls | Holiday survival guide
Posted on Thursday, 12 December 2024 under Wellness
The end of the year can be a great time to sit down, reflect, and plan for the year ahead.
If you've made a list - and checked it twice! - and getting on top of your finances is part of your plan, check out these handy tips that may help you.
Create a budget
Write down how much money you receive from your salary/wages, and any other income sources. Does this equal more than your expenses? If not, make immediate changes today.
Spend less by trimming day-to-day costs
Think about how you can cut back on things such as your cell phone, Netflix and internet plans. Try planning meals and groceries to lessen buying lunches and last-minute ordering in.
Eliminate unnecessary costs
Make a list of your current bills, due dates, and pay bills on time to avoid late fees or penalties.
Find ways to pay less interest on your debts
Focus on paying off debts with the highest interest rate first. Keep up with requirement payments (such as monthly minimums) on all your debts. Consolidate your debts into an “all-in-one” type of bank account or a secure line of credit so you can make a single payment each month, fortnight or week.
Set clear goals to help accelerate your savings
Write down all the things you’re saving for, and work out how much you need to set aside each month to reach your goals in the timeframe you want. Pay yourself this amount each month, just as if it is another bill.
Use online banking
Taking advantage of your bank’s online features such as setting up payment reminders, scheduling future bill payments and reviewing what you’re spending your money on are all helpful ways of helping you keep on top of your money matters.
Make the most of workplace and Government plans
Ensure you’re taking full advantage of KiwiSaver and discounts with Southern Cross health insurance plans through ANZCO’s subsidised workplace scheme.
Work with an adviser
ANZCO works with Vitae who provide Employee Assistance Programmes (EAP) in New Zealand. Vitae provides money management support at no cost to you. Call anytime to book an appointment on 0508 664 981.
