How to save, earn more, invest and retire well

We are here to help show you how to save, earn more, invest, and retire well.
We want you to get good with money.

The way that we manage our money influences every aspect of our lives, and yet no one ever formally teaches it to us. Because of that, people are missing out on opportunities to save, earn more money, invest well and retire in the lifestyle you will love.

So how do we save?

There are different stages of financial education and knowing how to save is fundamental.
The ‘preschool’ financial educator is here to teach you to focus on the foundations like budgeting, saving, credit, debt, and learning to passively earn.
These are the first steps and we are also here to take it further with advanced financial strategies and to what we call complete financial wellness and well-being.

The thing about money it’s not really very complicated. Saving for the sake of saving isn’t meaningful. Determine your goals and dreams because these can be potent motivators. When you genuinely want something, whether it be to start your own business or retire early, no one can stop you from saving for it and working hard to make it happen.

Here are some saving and budgeting styles to get you started:

Automated budgeting:
Try setting up automatic transfers so you can regularly pay bills and stack money away without thinking about it. Use a budgeting app to track your spending.

Value-based budgeting:
You don’t have to cut back on everything; this principle is about re-evaluating priorities. The key is to get aware of what spending truly adds to your happiness and what doesn’t.

Spender or saver profile
Did you know that there are psychological and social factors that contribute to whether a person is likely to be a spender or a saver? According to experts, people’s spending habits are much more nuanced.

Family upbringing, especially the mother’s relationship to money, have a sizable impact on the development of the child’s relationships with money.
People who are frugal and stressed about spending money tend to save more, while big spenders don’t feel the pressure to save.
It is important to find a balance in your spending without compromising your well-being and understand your spending habits. That way you will find money to save. But what can you use it for other than just buying stuff??

You can buy freedom with money, where you never have to worry about money again, but that’s not what we’re trained to do.

TIPS to Save More

70% – to build wealth fast reduce your lifestyle expenses to 50%
10% – use the extra 10% to pay your home loan off in 15 years by paying your interest component in advance
10% – until your home loan is paid maintain Dreams & Special Projects at 10%
10% – the other extra 10% can be invested into long term investments to take advantage of the compounding factor.

Read our 4 Top Tips to Future-Proof Your Finances HERE

To find out what ratio is best for your circumstances reach out to us anytime.

How to Earn More

Remember the song; I got bills I got a pay, so I am going to work, work, work every day. I got mouths I got a feed, so I’m going to make sure everybody eats.

So, everybody wants to get better at money, right?
There are many ways to earn more.

Getting a part time job for more cash flow for a period of time can be a great option.
Staying on top of your finances does not have to be a complicated endeavor. It begins with simple steps like spending less than you earn and putting aside some money for expected and unexpected situations.

Plus, implementing small changes today can give you the option and freedom to retire earlier.

Little expenses add up:
Refrain from spending on impulse if you can. Identify if a purchase is a need or a want.

Less is more:
Being mindful of where your money is going and spending it wisely means you get to channel your financial resources towards things that matter to you.

Invest in appreciating assets:
You buy an asset for a certain price. Over time, the asset appreciates in value. Through the power of compound interest, the appreciating assets build exponentially. Saving money, paying down debt quickly and investing well is your way to earn more. Check out more tips here.

Invest

To create a large investment portfolio, you need to save money regularly, invest consistently, and learn to stay the course for as many years as it takes.

Here are several strategies that can help you improve your investment gains over time.

Find Lower Cost Ways to Invest:
Lowering your expenses by just 1% can make a huge difference in the performance of your investment portfolio over the long-term.
Take Advantage of Tax-Efficient Investing:
Like investment expenses, income taxes on your investment earnings have a substantial impact on the performance of your portfolio.
Re-weight Regularly:
Re-weighting is all about returning your portfolio to its original level of diversification. If you originally planned to have 60% of your portfolio invested in stocks, 30% in bonds, and 10% cash, it is good to review and check your current ratios annually or biannually.

It is important to invest well and invest safely in alignment with your individual goals. Reach out to us anytime to get the right ratio that fits with your long-term requirements.

Need help?

If a long-term wealth strategy to build and protect your wealth is important to you, call us on 08 7111 0022 or email to book a time with us.

Make the rest of your life the best of your life.

Estate Planning

‘Estate planning’ is an often overlooked aspect of financial planning as it is generally viewed as overly complicated and/or unimportant.

That said, every homeowner should have an estate plan, so that they can decide in advance what happens to them, their loved ones, and their assets should they get into a position where they are unable to decide for themselves.

It’s a fact that we are living longer so rather than retirement planning we ask what are you going to retire to do? We recommend a plan that leads you to a time that re-inspires you for those very auspicious and well deserved times ahead.

If you are unsure of what you have or more importantly NOT HAVE, please contact us — just call to arrange a time to review where you are and where you would like to be.

And, for advice on saving, investing and planning for retirement, as well as advanced financial strategies for building and protecting your wealth, reach out to us anytime on 08 7111 0022 or jump online and book a chat with me here

Arthur Panagis
Author, Founder, Wealth Coach and Financial Strategist

B.Bus (Accountant)
Grad Dip (Financial Planning)
Professional Certificate in Self Managed Super Funds
ASX Listed Equities Accreditation
Tax (financial) Advisor

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Disclaimer: This article is factual information only. It is not intended to imply any recommendation about any financial product(s) or to constitute tax advice. The information in the article is reliable at the time of distribution, but may not be complete or accurate in the future.