Tips for Protecting Your Family's Future & Home

How are your finances post-pandemic?

Here are some suggestions you can focus on to bring more confidence back to your financial life

01
Rebuild your Emergency Savings Fund

If your home deposit or your pandemic response came from your savings, you may need additional protection while building them back up, so check your Income Protection insurance has a low claim waiting period.

02
Mortgage repayments are just the beginning of a spending budget

Be sure to plan ahead for repeating expenses such as council land rates & strata fees, utilities, and maintenance costs.

03
Lenders shy away from credit histories showing Pay-Day-Loans at refinance time

Should you ever need to refinance, banks consider a history of pay-day loans or credit card cash advances as a negative; so try not to use them in the 6 months before an application to refinance a mortgage.

04
If you can make additional loan repayments, do so

Most modern mortgages allow for additional repayments and many have an Offset Account so be sure to learn about these.

05

Have a goal of getting 3 months ahead in mortgage and loan repayments, then extend that to 6 months

Nothing feels as safe as being ahead in mortgage and debt repayments.