How Getting Organised Can Save You Money

Isn’t it amazing how much relentless stamina and in-the-moment focus it takes to be a parent, run a family home and work all at the same time. The mental “I’ll have to take care of that later” list just keeps growing…

You know the type of things that fill it up – along with all those good intentions:

“I’ll have to find time to sort through the kids’ cupboards to remove and donate the clothes they’ve outgrown…”

“I’ll have to find time to dust off those ceiling fans…”

Or, “I’ll have to organise that pile of financial papers.” You know, the one that keeps accumulating as you get home from work, open the mail, and embark on the dinner-to-bedtime ritual for the kids.

But sometimes, it literally pays to stop, pay attention, and get a little organised. And with a fresh new year ahead, it’s timely to take a look at some examples – and save some serious cash in the process.

Tidying up the mess for an organised new year

The early childhood stage in a family can be a particularly busy one. These days, it is common for both spouses to work, with one – or both – also pursuing further studies. Often, that magical ‘free’ time over the holiday season is when we take some time to exhale, re-group and find some much needed time for our families.

But that pile of financial papers? It only grows taller. The years of going through the cycle of filling out papers for the business of managing family life – from mortgages, to credit cards, car loans, school fees – seems never ending and, if you have a degree in hand, you’re probably also staring down the cold, hard financial cost of paying that educational debt back.

The best way to get on top of it? Get some clarity. How much do you owe? To which lenders? What kinds of loans? How many? How much? If you don’t have a handle on it, there’s no time like the present.

Meet the spreadsheet – and take control of your life

Using a one-page document can help you make sense of all of it, and give you a high-level view of your situation. If you have a mortgage, a car loan, some credit cards, insurances…. it’s a lot to keep track of, especially if you’re trying to do it all in your head. So, get to work on filling out the spreadsheet to make sense of it all.

Care and patience is key here. The most important job is to methodically input all of it. If there are loans, what types of loans are they? Who is the lender? What interest rate are you contracted to. What is the dollar figure of the repayment, and what is the interest portion of that repayment? What fees are you paying?

Do that for each and every loan, and then start on your insurances. Once all of your insurances are added to the spreadsheet, then make sure you input a column for your income, and see how you are tracking. This will give you a very clear picture of your situation.

Taking action

Armed with this new information, it’s time to get busy. Start looking into things like refinancing, negotiating fees, charges, and interest rates. Potentially, debt consolidation is an option. This could save you hundreds of dollars in repayments each month, not to mention the thousands you could save over the life of the loans.

Think it’s confusing? Don’t worry. Get yourself an experienced financial planner and start planning your future properly. A certified financial planner can be the best friend you need to help you get organised and stay organised – as well as give you comfort in the knowledge that you are taking positive steps to getting on the right track.

What’s on your list?

When you do get that “I have to take care of that later” list under control, it gives you that great feeling you get after you’ve just decluttered your house. A financial spring clean that’s perfect to do in any season – and especially at the start of a new calendar year when those resolutions to be better, happier and healthier than you were in the previous year are still ringing in your ears.

Not only that, but if you decide on a proper financial plan, you can stop just dreaming and start actively planning for the future, rather than worrying about it. Now that sounds like a recipe for a happy new year!

Axios Financial Solutions are a team of respected and highly regarded financial planners with offices on St Kilda Rd Melbourne. Axios helps their clients meet their desired outcomes by providing tailored financial services, strategies, advice and solutions. You can contact them at info@axios.com.au or (03) 9869 5555.

Axios Financial Solutions Pty Ltd (ACN 007 299 014), is a Corporate Authorised Representative of Charter Financial Planning Ltd, Australian Financial Services Licensee 234665

Please note that the information in this article is of a general nature only and has not taken into consideration your individual circumstances. Should you wish to discuss your personal circumstances please call us on 03 9869 5555 or email info@axios.com.au.

Level 3 The Metropolis
480 St Kilda Road
Melbourne Vic 3004