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New financial habits for 2010!
For many of us, the New Year can mean large credit card debts and serious store card bills.
But is there a way you can prevent this from happening?
Here at Hunter United we make sure you’re financially equipped to handle anything. All you have to do is plan ahead!
Keep a budget
Where does all my money go? Very few people can answer this question accurately. Learning how and where you spend your money is the first step in managing your finances. Keeping a written account of these transactions will help you plan more effectively. The Australian Securities & Investments Commission (ASIC) has an excellent budgeting tool that’s free for you to use at www.fido.gov.au
Develop a safety buffer
A high interest savings account such as our award winning XLR8 account or e-ZYNET Direct Account could be the way to go. Not only do you have immediate access to your money if needed, you will continue to earn high interest for as long as you keep the funds in the account.
Prepare for unexpected events
You never know what's around the corner! If an unexpected event occurs such as a car accident, unemployment or high medical bills, it is important to know that you have savings to tide you over should the worst occur.
Plan to save
Saving may appear to be difficult but think of the feeling of being able to afford something you’ve wanted for a long time. Aim to save 10% of your monthly income by paying yourself first. If you've never been a successful saver before, start off slowly. Set yourself short term goals and work your way up from there! Our staff would be happy to help you set up the necessary payroll deductions to ensure your saving habit becomes automatic.
Tactics to avoid unnecessary fees and charges
Receiving your statement and discovering you have been charged for unexpected fees can be frustrating. We recommend using our Hunter United ATMs or Westpac and St. George ATMs. Westpac and St George ATMs are part of the Hunter United ATM network so you will not be charged any additional foreign ATM fees – it’s just like using one of Hunter United’s own ATMs. Utilise our BPAY, Internet Banking and Phone Banking options which are quick, easy and most importantly cheap!
Consider consolidating your debts
It can be daunting to keep up with regular payments for a credit card, loan and store card. Why not consolidate all your debt into one competitively priced loan? This will help you save interest and leave you with just one repayment to worry about.
Approaching retirement?
It’s never too late to improve your financial position ahead of retirement. We suggest you consult with our financial planners, Insight Wealth Planning, about achieving the retirement you want. As a Hunter United member your initial consultation is FREE!
