Have you thought about creating financial resolutions in 2022? The New Year is the perfect time to review your finances and your goals. We’re here to provide a few ideas to help you create an achievable financial plan in 2022.
Create a savings plan
Kick start 2022 with a savings plan that will set you up for financial success!
If you have savings set aside, think about how you can invest wisely. You could consider moving your savings to a high-interest savings account so that your money isn’t sitting still in an everyday bank account. Investing in an APS Term Investment will allow you to earn up to 4.00% p.a. on your savings which is nearly four times what most banks are offering right now!
Alternatively, you could consider using your savings to invest in property. If this is an option that you are seriously considering, we recommend talking to a Mortgage Broker who will be able to assist you with the financial assessment and what options are available to suit your budget.
Save for retirement
It’s never too early to start planning for retirement! The earlier you start thinking about your future, the easier it will be to make your retirement dreams a reality.
Start thinking about the type of lifestyle that you desire in your retirement years. Maybe you have dreams to travel, finish work early and enjoy the finer things in life. You may picture yourself having a simple and easy lifestyle with no frills. Either way, the best way to start planning is to have a rough idea of your future and the financial commitment needed to get there.
Chat to a Financial Planner about making a plan to ensure you have a strategy in place to help you reach your goals. A Financial Planner may suggest strategies such as extra contributions to ensure you are setting yourself up for success.
Create an emergency fund
If we have learnt anything from the pandemic, it’s that the unexpected can arise at any time. Think about how you can best prepare yourself for any unexpected financial emergencies in the future. Creating an emergency fund is the perfect way to give yourself a buffer during a difficult period. If you put three to six months of essential expenses aside now, you’ll have confidence that you can withstand any future uncertainties that are beyond your control.
Look at giving options
If your finances are stable, consider giving options and how you can support those who are less fortunate. You may have a personal connection to a cause or you could research non-profits who are making a difference. All charitable donations are tax-deductible, so you’ll be giving back and easing your tax burden at the end of the financial year!
The APS Benefits Group created the APS Benevolent Fund, a registered charity making a difference in the lives of children with cerebral palsy. Cerebral palsy is the most common physical disability in Australia and the most expensive to manage. We’re passionate about giving back and providing support to help children live better lives and encourage APS members and clients to donate if they wish.
Create a Will
Creating a Will is one way that you can protect your finances in the future. It is a small cost now that will allow you to leave your finances in a safe place when you’re no longer here. Creating or updating your Will gives you peace of mind that your loved ones are taken care of and that everything you’ve worked for is going to support your family in the long term.
The team at APS Wills and Estates has helped hundreds of clients and members create or update their Will during the recent pandemic. It continues to be an important time to review your financial situation and what you want for the future if anything unexpected was to happen to you.
Need help with your financial resolutions?
Whatever your goals are for 2022, we have a team of experts who are here to help you every step of the way. At APS, we use a holistic approach to help you achieve financial wellbeing. Our goal is to protect your financial wellbeing through simple financial services that help you stay on top of your money.
We achieve this through a number of services that help you to create financial success including, Funeral Benefits, Savings, Loans, Mortgage Broking, Financial Planning, Tax & Accounting, Wills and more!
Get in touch to learn more about how we can support you in 2022.