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Who are SECFI?

 

 

Financial New Year Resolutions to Keep For 2017

 

 

A new year can only mean one thing, new beginnings. And this is when we have to answer the big New Year questions. What are our New Year’s Resolutions and how do we keep them?

So what are the top 3 New Year’s resolutions for 2017? According to research conducted by Statistic Brain on 1st January 2017, they are:

 

 1

 

 Lose Weight / Healthier Eating

 

 21.4%

 2

 

 Life / Self Improvements

 

 12.3%

 3

 

 Better Financial Decisions

 

 8.5%

 

It’s safe to say setting a resolution is the easy part, sticking with it is a different story. According to Statistic Brain 41% of American’s usually make New Year’s Resolutions (and Aussie’s are very similar). Of those, only 72.6% make it past the first week, 68.4% get past the 2 week mark, 58.4% make it past 1 month and only 44.8% of people who make New Year’s Resolutions manage to follow them through for at least 6 months.

 

I believe the main reason most people fail is because they set resolutions without mentally organising them based on their priorities and they tend to make them TOO BIG or not specific enough. The solution? Start with short-term goals that work towards your resolution. This allows you to slowly work your way up to your BIG, hairy New Year's Resolution.

 

So, did you make a New Year’s resolution this year? If so, are you one of the 58.4% of people who made it past the first month? Or have you called it quits already? If you’re still going strong, that’s awesome news … keep going. If you’ve fallen off the wagon, don’t despair … there’s still hope (maybe you just need to review and break it down into smaller parts).

 

SECFI can certainly help you succeed with your New Year’s Resolution if you vowed to improve your financial life in 2017. Here are 5 bite-sized ways to help you move closer to your financial goals for the year.

 

1. Exercise.

 

Yes. Exercise. We mean going out for morning runs, trying yoga or even catching up with a friend to go walking. It may seem farfetched but by creating good habits with your health, it eventually rubs off on your spending habits. Get healthy and wealthy at the same time.

 

2. Invest in Time to Reflect

 

Sounds easy enough, sure. But it’s something we forget to do a lot. Take a step back and reassess the situation.

 

CEO of Mediatrix, Michael Young suggests reminding yourself of the following:

 

  • Risk tolerance
  • Timing
  • Need for short-term income
  • Long-term goals
  • How you feel about your finances now

 

Things can change every year. So it’s possible these factors will vary from time to time too. Take the time to reflect and consider whether your current investments have the potential to help you achieve your current goals.

 

3. Make A Decision

 

After taking the time to reflect, decide what changes you need to make … and be brutally honest with yourself. If you need help reviewing your property portfolio so you can see the wood for the trees, we’re happy to help.

 

4. Get a financial health check

 

The financial landscape has changed a lot recently. There’s a good chance you could save considerable amounts by reviewing your finances and tweaking things a bit. Speak to a really good broker to find out how you can save on your current loans and how to prepare for any future investment purchases.

 

It’s good to double-check the information your existing bank/broker is giving you from time to time too. Sometimes it’s as simple as asking your current bank to give you a rate discount (this can also be done by your broker).

 

5. Invest

 

It’s never too late to start, or re-start investing. One thing’s for sure, most of the population won’t have enough in retirement to continue living the lifestyle they’ve become accustomed to during their working life. That’s why it’s so important to invest and keep on investing. The vast majority of people’s super won’t be enough to retire on unfortunately … so adding a property investment portfolio to the mix makes sense, especially when SECFI can show you how to do it without impacting your weekly cashflow!

 

SECFI will help you assess your current situation and can suggest whether there are any changes you could make to achieve your goals faster, lower your cost base or increase your income.

 

Click here to book your financial health check.

SECFI

Level 11 Brookfield Place

125 St Georges Terrace

Perth WA 6000

 

Phone: 08 9288 4553

Fax: 08 9288 4400

Email: info@secfi.com.au

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