savings Archives - Jennings Financial Services

Helping your Children – Financially

As a parent you probably have great expectations for your child. They will have everything you had and more! You will consider their every need and make the most of every opportunity to help them get ahead, right? Whilst every parent wants their child to be healthy, happy and financially secure, figuring out how to get them there is another thing. Working with a financial adviser can help you understand options available to financially help your children, and teach them how to take control of their financial future once it is time for you to step out of the equation, and them to step up. Introducing these discussions as a family from early on means you can get help for your children that will serve them well into their future. Savings It’s never too early to start a good savings system. If your child gets pocket money for helping out around the family home, birthday money and other small [...]

By Bruce Jennings|2021-04-13T12:20:17+10:00April 13th, 2021|Tips and Other News|0 Comments

Take Control Of Your Retirement

Are you affected by the increase in the Age Pension’s qualifying age? Take steps now to avoid getting caught short on retirement income. The minimum age to qualify for the Age Pension has started going up. For those born on or after 1 July 1952, the qualifying age increases by six months every two years until it reaches 67 in July 2023. It rises to 66 in July this year. So if you’re turning 45 this year and plan to retire when you reach 60, you will need to wait until you’re 67 before you can apply for the Age Pension. You’ll have to rely on your own savings and super in the interim, making it crucial to ensure you have enough money put away for later years. But the good news is that there’s still time to grow your retirement savings. Boost your super Contributing more to your super can be a reliable route to bolstering your retirement [...]

By Bruce Jennings|2020-09-29T13:17:03+10:00September 29th, 2020|Retirement|0 Comments

Looking after your Household Expenses

Take the pain out of managing your family’s finances. Taking care of household finances can be taxing, especially if you have a big family. But with proper planning and budgeting, there’s no need to stress. Here are some tips to help you effectively manage your household finances. 1 | Examine your finances Sitting down as a family and figuring out how much money is coming in and going out may help you gauge the state of your family’s finances. A clear picture of your household income and expenses could set you up to manage your cashflow better. 2 | Rein in spending Keeping expenses under control can be tough in a large household. But if you’re spending as much as or more than you’re earning, you might want to consider limiting your family’s discretionary costs by buying only what you can afford. 3 | Set financial goals Setting financial goals as a family may help you work towards future aspirations instead of [...]

By Bruce Jennings|2020-08-25T11:05:21+10:00August 25th, 2020|Tips and Other News|0 Comments