ASIC’s MoneySmart website has a new budget planner to help people start 2012 with a fresh financial outlook.
MoneySmart’s Delia Rickard said: ‘Getting out of debt and getting sorted financially are top new year’s resolutions for many people this year. Our new budget planner can help new year resolutions come true – it reveals exactly where your money is going, whether it’s being spent on the things that are important to you, and if you’re spending more than you can afford.
‘It’s now easy for your clients to save their budget planner within the MoneySmart website or to their own computer. Then they can go back and update it as the year progresses to see if you are on track’, said Ms Rickard.
‘For people whose new year resolution is to go on a holiday, have a dream wedding or buy a new car, MoneySmart’s savings goal calculator is a handy tool. Clients can plug in their details to find out how long it will take to reach their savings goal.
‘Other people will have a simple dream to get their credit card debts under control in 2012. MoneySmart has a credit card calculator which will help them work out the fastest way to pay off credit card debt’, she said.
MoneySmart’s top five money tips for 2012:
- Create a budget to get your money sorted.
- Start paying off your credit cards (pay the one with the highest interest rate first).
- Set up a direct debit to put money into a savings account each fortnight.
- Pay extra off your mortgage while interest rates are low.
- Switch loans if you can get a better deal.
To try out the budget planner and other MoneySmart calculators, go to www.moneysmart.gov.au