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Financial planning

As we ring in a brand new financial year (ding! ding!) it’s a good time to set new savings goals. Here we'll walk you through the steps to successfully kick-starting FY 17/18.

Ever considered consolidating your credit card, car loan and home loan into one simple payment? Find a rate in seconds.

Decide what financial goals you want to achieve

Are you saving for a house deposit? Want to renovate your kitchen? Need a well deserved holiday? Take the time to write your goals down especially if you think you have some extra tax back cash coming your way because before you know it, those dollars can quickly evaporate into groceries and bills.

Get rid of your debt first

Prioritise your debt. If you’ve got outstanding debt such as credit cards, concentrate on paying these high interest debts off first. And, make sure they are paid on time or it might affect your credit score.

Already got a home loan? Save by consolidating your extra debt into your home loan. Find out how.

Plan your year of spending

budget-planning Budgeting may seem boring, but it’s the smart way to get ahead and your hidden weapon when it comes to closing in on those savings goals.

Start your budget by outlining your monthly expenses including rent/home loan repayments, insurance, transport, utility bills, gym and dental. Then factor in your savings goals before you review your spending. If there are any major expenses you can do without, cut them.

Use our handy Savings Goal Planner

Start the new financial year running with our handy savings goal planner. You can download it below. Remember to review your budget regularly to stay on track.

Download our savings goal planner in Excel

Top money saving tip!

Expect the unexpected. It’s smart to add some padding to your budget because there will always be unexpected expenses around the corner, from car repairs to unforeseen utility bill hikes. There’s always something!

Want to reduce your monthly payments? Compare refinance rates in seconds with Lendi.

Tags: saving, deposit, debt consolidation, new purchase, renovate

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Lendi is a privately owned and operated Aussie business. Our mission is to provide Aussies with the right experience when choosing a home loan from our panel of lenders including ClickLoans, a related body corporate of Auscred Services. Although Lendi compares over 1600 products from over 35 lenders, we don't cover the whole market or compare all features and there may be other features or options available to you. While Lendi is 40% owned by founders and employees, we have also been supported by some great minority shareholders including Bailador, Macquarie Bank Ltd and a number of Australian sophisticated investors. We have an independent and founder led board.
WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. The comparison rates are based on a loan amount of $150,000 over a loan term of 25 years.
EXAMPLE: This example is current as at 20th October 2016. A Click Loans Online Principal and Interest Loan of $150,000 over 25 years has monthly repayments of $767. This is calculated based on the interest rate of 3.69%, comparison rate of 3.69%, upfront fees of $0 and annual fees of $0.
IMPORTANT INFORMATION: Loan terms of between 1 Year and 40 Years are available subject to lender and credit criteria. Maximum comparison rate will not exceed 14.99% (see comparison rate warning above). Any calculations or estimated savings do not constitute an offer of credit or a credit quote and are only an estimate of what you may be able to achieve based on the accuracy of the information provided. It doesn't take into account any product features or any applicable fees. Our lending criteria and the basis upon which we assess what you can afford may change at any time without notice. Savings shown are based on user inputted data and a loan term of 30 years. All applications for credit are subject to lender credit approval criteria.
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