Do you ever get the feeling you work so hard yet there is so much month left at the end of the money. Wouldn't it be great to have much more money left at the end of the month?
Unfortunately for many Australians this is normal and it's becoming more and more normal with easy access to personal loans and credit cards being handed out like lollies. Maybe we should introduce to kids at school, don't talk to companies that are offering free credit cards?
Personal debt in Australia is at an all time high and even high compared to other countries from around the world.
According to the Australian Bureau of Statistics in 2015-16, based on the ratio of debt to either income or assets, around three-in-ten households (29%) were classified as ‘over-indebted’.
Debt growth has outpaced that of incomes and assets during the same period, helping to drive the proportion of households who are over-indebted up from 21% in 2003-04 to 29% in 2015-16.
Having a budget helps you organise your cash flow and understand where your money is going. But many think the word 'Budgeting' is a dirty word, they hate it so therefore don't budget at all. For some it means you are going to have to sacrifice part of your life or that you won't be able to do certain things.
But budgeting just simply means managing your money. You can still do the things you love but you can recognise that maybe you might not be able to do it as much or go without something else because your budget doesn't stretch that far.
Budgeting allows you to setup your money goals, identify what you want and what you don't want. It helps you see where your money goes and what type of spending habits you have.
Review your budget regularly as your expenses can increase and income may increase or decrease.
At Key to Australia we not only help Australians purchase investment property who are in the right position to do so, but also help those who are either not in the right financial position or those who need to take control of their financial position.
Purchasing an investment property, you need to be financially ready and, in a position that you can hold on to that asset. If you don't know how to budget and manage your money, how are you going to build a property portfolio that will help you in your retirement?
This is why we started our 'Financial Mentoring Programme' to help those who need someone to mentor and guide them to setup and manage their money over a period of time. The reason we do it over a period of time is because we make you accountable and by you learning rather than us just doing it for you, you will use the skills you learnt for the rest of your life.
Whether you are trying to reduce your spending, wanting to buy your first home or investment property or just pay down your home mortgage sooner our 'Financial Mentoring Programme' will be perfect for you.
Without the financial foundations in place, it is difficult to progress through to wealth creation strategies like purchasing an investment property and that’s where passive income and capital growth lives.
If you truly want to build wealth for you and your family and towards your own retirement you need get the fundamentals in place including, spending and saving.
Our 'Financial Mentoring Programme', is not designed as a fixed programme based on one system or process for everyone. It's designed to be fluent and fit into your personal situation including your financial dreams and goals.
Our financial mentor is well-equipped to work together with you, ensuring that what you say you want to achieve can be achieved. Ensuring that your dream becomes our mentor's challenge, and ultimately your success story.
Our financial mentor has decades in the finance industry, together with a passion to helping people achieve their best financial future, and at the same time creating positive outcomes within our twelve-month Mentoring Programme.
Credit Representative Number 493774 is authorised under Australian Credit Licence Number 389328. Your full financial situation and requirements need to be considered prior to any offer and acceptance of a loan product.