Learning about money may seem such a boring, selfish slog but really, it can be a bit of fun and very rewarding.
In fact, effort = return because financial literacy studies have proven it.
Up-skilling your financial nous isn’t just about the big questions of ‘will I be rich?
Will I retire well?
It’s the little daily questions which are important and vital to manage:
‘How can I ever meet my goals when I love to spend?
‘How can I cut my (massive) debts?
‘How can I max up my super now that I’m in my 30s?
What’s your goal for this year? Most people are getting more conscious about building a cash buffer! That’s quite a change from
previous years when we were more keen on lifestyle purchases, such as the plasma and luxury brand goods. However, men are still saving more than women so we all need to keep that in mind when it comes to building our nest egg
Remember, you need to save to invest and invest to retire. And even if retirement is light years away, it’s good to know that the pressure is off when you have more resources. So get cracking!
Top 10 Savings goals for 2009*
1. Rainy day money (55%)
2. Holiday (46%)
3. House deposit (28.7%)
4. Investment property (27.2%)
5. Personal luxury items (24.3%)
6. Home improvements (21.8%)
7. Car (20.3%)
8. Pay future bills (20.3%)
9. Home entertainment (15.9%)
10. Children’s education (14.4%)
*Source: Online bank RaboPlus and Celsius Research