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PAYING OFF DEBT

Key objectives during this life stage are focused on paying off the home loan.

Money comes in and goes out, being spent on the household and children. Pleasures are taken in small luxuries and travel.

Watch the video below to learn more about this life stage.

 

 

MAKING SAVINGS SIMPLE

Where does your money go each month?

You might be thinking about making some big plans in the future such as buying a house or starting a family. So now is the time to get your savings on track.

Putting off setting up a savings plan? You could miss out on thousands of dollars in interest due to the effects of compounding.

What you need to know

It can be easy to let money slip through your fingers. Setting up a budget and starting a regular savings plan will help you:

  • Make the most of your money and enjoy the benefits of your hard work
  • Get into a savings habit so you can build your wealth faster
  • Increase the amount of money you have by earning interest
  • Get peace of mind that you are being smart about your money

Getting started

  • Find a budget app or use our budget calculator to help you make and stick to your budget
  • Set up a regular savings plan so the money automatically comes out of your account each month
  • Watch your savings grow

Count on us

A Count adviser can help you:

  • Work out your goals for now and in the future
  • Show you how to reach your goals faster
  • Help choose the best savings plan for your needs

 

BOOST YOUR SUPER

Did you know you might be doubling up on your super fees?

By now it's likely you've had more than one job throughout your career. Each time you start a new job your new employer will make contributions to your super through the superannuation guarantee.

What you need to know

As we change jobs it's easy to end up with more than one super account. This means you may be paying more fees than you need to. By consolidating your super into one fund you can:

  • Save money on fees
  • Cut down your paperwork
  • Make it easier to keep track of your super

You can now also choose which super fund your superannuation guarantee is paid to (rather than your employer choosing for you).

Getting started

  • It's easy to consolidate your super online using the ATO's online SuperSeeker tool
  • Shop around – find a super fund that has the features you want
  • Remember to check that your employer can contribute to your chosen fund before you consolidate

Count on us

A Count adviser can help you:

  • Choose the best super fund for you
  • Boost your super using smart super strategies
  • Consolidate your super

 

STARTING A FAMILY

Are you prepared financially for your new arrival?

When you're having a baby it's normal to focus on the practical aspects of preparing for the arrival of a newborn, such as deciding where to give birth, choosing names and buying the essentials. In fact, there are so many practical things to consider that people often overlook the financial considerations.

Raising a child

The average cost of raising a child between the ages of 0-4 is $7,500. This equates to an extra $144 per week to look after your baby.

What you need to know

By taking the time to consider your finances ahead of time, you'll be able to avoid financial pressures and really enjoy the special time with your new family member. Now is the time to consider:

  • Budgeting for the costs of having a child such as well as the possibility of living off just one income
  • How you will afford to buy the things your baby will need such as a cot, car seat and clothes and nappies
  • Whether you will be eligible for financial assistance from the government through schemes such as the baby bonus, paid parental leave, family tax benefit, child care benefit and child care rebate

Getting started

  • Try to save enough before-hand to cover pregnancy costs and living expenses
  • Before buying baby items, work out which are essentials and which are nice to haves

Count on us

A Count adviser can help you:

  • Put together a budget and savings plan
  • Understand the benefits you are eligible for

 

MANAGING YOUR HOME LOAN

Do you want to pay your home loan off faster?

Your home loan repayments are likely to be one of your biggest outgoings each month. Paying off your home loan as soon as possible is one of the simplest ways to save money. Particularly in the early years when your interest payments are highest.

Protect your loan

Income protection insurance provides better value than home loan protection insurance. Income protection insurance provides up to 75% of your salary in the event that you are unable to work and covers all your expenses - not just your loan repayments.

What you need to know

Small changes can make a big difference. There are some easy ways that you can start to pay off your loan faster:

  • Changing your payments from monthly to fortnightly or weekly is the equivalent of making 13 monthly repayments a year
  • Avoid 'honeymoon' loans that revert to a higher rate after the 'honeymoon' period is over
  • Make additional repayments whenever you can. Extra repayments you make in the early years will have the biggest impact
  • Use an offset account to reduce your loan interest if it is available as part of your loan facility

Count on us

A Count adviser can help you:

  • Put in place strategies to pay off your home loan faster

 

INSURING YOUR FUTURE

Did you know you could get paid even if you can't work?

By now you've probably had some experience with insurance for your car or home. But have you thought about your most important asset - yourself?

Insurance

You can save money on your insurance premiums by taking out insurance through your super. And it's easy to do.

What you need to know

If illness or injury stopped you from working for an extended period, could you keep paying your bills? Taking out personal insurance can:

  • Give you peace of mind that if the unexpected occurs, you don't need to worry about money
  • Pay you up to 75% of your pre-tax salary if you take out income protection insurance
  • Help you focus on recovering physically and emotionally if the worst did happen

Count on us

A Count adviser can help you:

  • Find the right insurance for your stage of life
  • Help you work out the level of cover you need and the amount of premiums you can afford
  • Advise you on taking out insurance through your super

 

BUILDING WEALTH FOR THE FUTURE

How much money do you need to start investing?

Investing your money can help you make your savings work harder for you. And now may be a good time to consider starting an investment portfolio especially if you find your disposable income has increased. Importantly you don't need a large lump sum to get started.

Investing

When you invest a set amount at regular intervals, you benefit from 'dollar cost averaging' which can help smooth out your returns by insulating you against changes in the value of the assets you are investing in.

What you need to know

One of the easiest ways to build your investment portfolio is to simply keep adding to it on a regular basis. With a regular investment plan you can start small and build your investment over time. And by putting money into an investment portfolio rather than a savings account you could earn a higher return.

For example, with an initial investment of $1,000, and by adding as little as just $100 a month, you can start a regular investment plan into a managed fund or superannuation. Assuming you earn an average of 7% each year on your investment, after 10 years your investment will have grown from $1,000 to $16,000.

Count on us

A Count adviser can help you:

  • Find the right insurance for your stage of life
  • Help you work out the level of cover you need and the amount of premiums you can afford
  • Advise you on taking out insurance through your super

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Important information:  The information on this web page is not advice and is intended to provide general information only. It does not take into account your individual needs, objectives or personal circumstances. You should consider talking to a financial adviser before making a financial decision. JSA Accounting is an Authorised Representative of Count Financial Ltd ABN 19 001 974 625 AFSL No. 227232 which is 85% owned by CountPlus Limited ABN 111 26 990 832 (CountPlus) of Level 17, 1 Margaret Street, Sydney 2000 NSW and 15% owned by Count Member Firm Pty Ltd ACN 633 983 490 of Level 17, 1 Margaret Street, Sydney 2000 NSW. CountPlus is listed on the Australian Stock Exchange. Count Member Firm Pty Ltd is owned by Count Member Firm DT Pty Ltd ACN 633 956 073 which holds the assets under a discretionary trust for certain beneficiaries including potentially some corporate authorised representatives of Count Financial Ltd. 

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