Most Commonly Asked
Money Questions

The first step is to admit your deficiencies when it comes to money. The challenge for most working families is they haven’t been taught how to manage money or how to make money grow. So, the first thing you need to do is a full assessment of where your money goes. Next set some goals and create a plan and stick to it.

This may sound pretty boring but you must plan out a budget & stick to it. If you want to get your finances in order the first place to start is with a good budget. I call it your weekly cash flow plan. When creating your weekly cash flow plan make sure it is comprehensive and realistic and be sure to stick to it!

I suggest you aim for at least 4 weeks wages saved up as a cash buffer. This is your rainy day emergency account. I teach my clients to look at saving 10% of all income off the top. It is the Pay Yourself First principle. So an example would be you take home $1K per week after tax, save 10% which is $100 off the top and live off the rest $900 per week. In just 40 weeks you will have save $4K and have a nice cash buffer behind you

Everyone knows they should have an emergency fund and save money for retirement but knowing and doing are two very different things.

The easiest way to make the process painless is to automate your savings. A good starting point is setting aside 10% of your net weekly income. If you have regular pays coming in schedule an automatic transfer of 10% each time you get paid. That means that if you make $1,000 every week you would schedule $100 to be transferred to your emergency fund or retirement account.

The more you can save today, the more freedom you will have tomorrow. As life’s emergencies pop up, you’ll be able to handle them without going into a financial crisis.

This depends on your personal circumstances. Clearing bad debt should always be a key focus and we have a number of different debt reduction strategies you could consider. Getting the right advice and implementing to correct strategy is very important.