Menu

SPENDING AND SAVING

This is a time of enjoying new found freedom before the responsibility of family and property. Getting on the property ladder is one of the key goals identified in the life stage.

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

 

 

MAKING SAVINGS SIMPLE

Where does your money go?

Starting out may involve a new job or progressing your career is an exciting time. A regular salary means the freedom to travel, buy a car or even start saving for your first home.

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

Follow these simple steps:

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

 

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?

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

Some advice

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

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

 

UNDERSTANDING DEBT

What is good and bad debt?

It can be tempting to use debt to get what you want now and pay for it later. But too much debt can impact your ability to save and even make it difficult to meet your everyday expenses, particularly if you are borrowing using credit cards with high interest rates.

What you need to know

Avoiding unnecessary debt early in life will be a huge benefit later on. But, it is also important to understand that not all debt is bad. Purchasing assets that are likely to go up in value (such as your first home) or generating additional income using loans can often be a sound financial decision.

Ideally, try to avoid going into debt to pay for depreciating items, such as cars and luxury goods. You'll probably end up paying a lot more than you intended, so before you buy you should consider the total cost of the purchase, including interest repayments.

Getting started

  • Do your best to pay the balance of any credit card debt in full every month to avoid your credit card bill spiralling out of control
  • Shop around - find the cheapest card that suits your needs and cancel multiple cards
  • Start a budget so you know exactly how much you can afford to spend

Count on us

A Count adviser can help you:

  • Review your finances and help you reach your goals
  • Minimise your bad debt
  • Set up a budget and regular savings plan

<< Back to Education Centre

 


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. 

What We Do

JSA Accounting is a CPA accounting firm. We take great pride in providing a comprehensive taxation, accounting and financial planning service.

READ MORE

Who We Are

At JSA Accounting we are committed to forming close partnerships with our clients, enabling us to understand your unique situation.

READ MORE

Client Tools

View our handy online tools and resources featuring key dates, tax facts, useful links and online calculators.

READ MORE

Meet The Team

Jill Hoadley
Director – Tax and Business Services
FIND OUT MORE
Jessica Ni
Director
FIND OUT MORE
Robert Julian
Financial Planning & Superannuation
FIND OUT MORE
Nicola McReyolds
Accountant
FIND OUT MORE
Amy Hou
Accountant
FIND OUT MORE
Ian Brock
Accountant
FIND OUT MORE

Latest News | RSS

What our clients say

Contact / Connect