SAVINGS MANAGEMENT

Financial peace isn't the acquisition of stuff.

It's learning to live on less than you make,

so you can give money back and have money to invest.

You can't win until you do this.

Dave Ramsey

  • According to industry figures, about 10% of working Australian households only have $90 in their savings account; about half of working households have less than $7000. If emergency situations arise, only 25% can draw on their savings account to help them stay afloat.

  • Further, research reveals that a $1594 savings money will only last you 7 days when it comes to covering your household expenses. If you have $6376 in your savings, you may be able to cover your expenses for 4 weeks. If you have $9564, you may survive for 6 weeks.

  • What if you don't even have a savings account?

  • Savings management is a straightforward strategy when it comes to building wealth. But what most people need is to develop the habits in order to start, maintain, and grow their savings account.

    And we can help you accomplish these things.

HOW SAVINGS MANAGEMENT CAN HELP YOU

 

Developing the habit of saving

On average, Australians are only able to stash around $200 to their savings account every pay day. That’s still good considering that some people don’t even have ‘save-able’ funds.

Earning a higher interest

As you grow your savings money, you may be able to take advantage of savings account types that pay higher interest. This means that your money will have a higher yield all the while being accessible should you need it.

Helping you earn from your money

Depending on your preferred savings account type, you will see that you’ll actually earn money from the interest paid to your savings account. We can help you maximise that payment.

Gearing for an investment

If you have the plan to become an investor, later on, you can use the money in your savings account as your investment fund.

Building an emergency fund

Savings accounts are designed to be available and accessible when you need it. If times are dire, you know that you have a backup account to draw from to cover your expenses.

Peace of mind

Knowing that you have financial cushion takes away some stress in your financial life. It makes you feel secure because you know that you can draw from something during during difficult times and at times when you are ready to execute your long-term financial goals.

Preparing for specific goals

Savings accounts offer safe storage for your funds in view of your long-term goals. If you don’t want to commit to a long-term lock-in period because you’ll need to pay something soon, a savings account is a good option.

 

OPTIMISE YOUR SAVINGS POTENTIAL TODAY

Starting and growing your savings will help you in many ways you may not expect now or in the future. The earlier you learn how to manage it, the better your prospect at accumulating wealth.

If you wish to know more, or if you want to book an obligation-free consultation related to savings management, please do not hesitate to email us at support@yourwealhthub.com.au or to call us on 0408 155 140. You can also use the form below.