Budgeting for everyone

Worried about where your money is going? Recent research of retirees shows:
  • Two out of three retirees have been forced to reduce their personal expenditure in the last three months.
  • Around one million retirees (30%) are not confident their retirement savings will last the distance.
  • Those who started saving for retirement AFTER the age of 50, have more financial worries (48%) compared to those who started saving before the age of 40 (29%).
  • What the research suggests is that with better planning and greater saving, future generations would be able to have the retirement lifestyle they chose rather than the one they are forced to accept.
(Source: CitiBank research)

Take control of your finances - Completing and reviewing a budget is a great way for everyone to identify areas where they can save. Here are some simple savings ideas to get you started:

Everyday savings you could make:
- Reduce bought lunches – save $965 each year
- Eat one meat free meal a week – save $364 each year
- Watch those bank fees – save $300 each year
- Buy generic brands - save $2496 each year
- Give up smoking – save $4004 each year

Total savings - save $8120 for the year

See our Financial adviser to review your budget and ensure your savings are on track to meet your goals. And, if you have some budgeting/savings gems of your own we would love to hear from you.

If you require any further information or assistance, please contact My Tax Zone on 07 32083888. Our authorised Representative of Professional Investment Services will be able to provide you with financial planning advice to suit your present needs and plan for the future.

(Source Professional Investment Services ABN 11 074 608 558 AFSL 234951

Copyright 2014. My Tax Zone.