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Hi there! Springtime is officially here! As the weather starts to warm up, it’s a great opportunity to freshen up your home and tackle any outstanding tasks. While washing windows and dusting baseboards may be on your list, it’s important not to overlook your financial health too.
Here are 4 tips on how to spring-clean your finances:
1. Organize your paperwork
Paper documents can cause clutter in your home and are tedious to sort through.Shred old financial documents that you no longer need and digitally back up the ones that you do. If possible, switch from paper to online statements with your financial institution.
2. Cut out bad spending habits
Review your account statement to identify any patterns in your spending. Notice any bad trends? If you did, make an effort to cut out any purchases or spending habits that are damaging to your budget.
3. Review your financial goals
As the seasons change, so can your financial goals. Are your goals still valid? If so, are you progressing toward them? If your goals no longer meet your needs, create new targets. Reviewing your goals can help you reassess or recommit to the goals you’ve already set.
4. Automate your investments
Managing your investments can be a full-time job or a task that you put off and never get around to doing. But why do the work when it can be done for you? Automating your investments can save you valuable time and effort.
With Go & Grow, for example, you simply make a payment to your account, and we take care of the rest. Your return is automatically reinvested, and you can sit back and watch your money grow.
And that’s it! Here’s to a clean home and tidy finances!
Have any financial spring-cleaning tips? Be sure to share them in the comments.
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Thanks, keep investing, and bye for now!
*As with any investment, your capital is at risk and the investments are not guaranteed. The yield is up to 6.75%*p.a. Before deciding to invest, please review our risk statement or consult with a financial advisor if necessary.