Whether you've got some credit cards or a personal loan that you want to knock on the head or you're wanting to make some serious inroads on repaying your mortgage - We can help!
I think this is one of the more important new years resolutions you can make and by starting with a plan and some good budgeting early in the year you can set yourself up well to be celebrating some success by Christmas.
Where to start?
A budget is the backbone of any financial plan. It may sound simple but it's still the number one thing we do for our clients when making future goals. Sorted.org.nz has a really awesome budget calculator to get you started. Here is a link for that.
If you want to really get stuck in to budgeting in real time every month then the favorite in our office is from our friends at Pocketsmith. It takes your bank feeds and allows you to record spending ongoing. Here is a link for them.
With a budget you will then clearly understand how much money you have and where you need to spend it. This will also show you where you can better put money to improve your finances.How can we help?
Structure - The key to debt reduction
For those of you who have worked with us for a while you'll be sick of us saying it... but the key factor in easily managing and reducing debt is to have the right structure. This means that you're repaying the right debt as fast as possible, taking advantage of products or policies with certain lenders to reduce your overall cost of borrowing and most importantly the structure of your lending fits with your financial goals and the way you earn and manage your money.
Our team is here to take the time to work with you on finding the right structure. That might just be a few tweaks, or it might be fully refinancing and restructuring your lending to save you money. With the new year underway, we'd love to be able to help you with this goal for 2017. Get in touch todayso that Adam, Claire and the team can help you to get debt free (or closer to) this year! We'll be back next week with some more help for your new years resolutions
Adam, Claire and the My Mortgage Team