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budgets

Budgets

Juggling your finances can be difficult whenyou have one salary and want to start saving. A budget helps you to track your cash flow so you can take control of your finances and plan effectively for the future:

  • Do you have a budget surplus?
  • Do your priorities centre around lifestyle or investment? Or a combination of both?
  • Would you like to use your surplus to buy a house? 
    To renovate? To invest in shares?

 

buying property

Buying Property

The great Australian dream is to own your home, so you can get out of the rent trap and make house improvements to fit your changing needs. At Edge, we can help you to answer some important questions before taking the leap:

  • Is purchasing property the best financial decision or is it a lifestyle decision?
  • When is the best time to purchase property?
  • How much can I borrow?
  • What will my repayments be?

 

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Using Equity

Have you ever wondered if your finances are working hard enough for you? You may own your home, but now what? Did you know that you can use the equity in your home for other investments, like:

  • Renovating
  • Buying another investment property
  • Purchasing shares on the stock exchange

NEGATIVE GEARING
At Edge, we work with you to maximise your assets and equity. We’ll help you determine if negative gearing is an appropriate strategy for your current situation and future goals, by establishing whether:

  • You are seeking a cashflow-positive asset, or
  • You are looking for long term growth as a trade-off

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Debt Structure

Have you checked your debt’s vital signs lately? Understanding good versus bad debt and how to structure your loans is crucial to tax deductibility. Whether for your own house or investment property, the right debt structure could save you thousands. We’ll help you
to decide:

  • Should you choose an interest only loan, or consider principal plus interest?
  • Is a fixed loan right for you, or would a variable  rate
    be cheaper?
  • How can you use the equity in your home to pay  off higher interest debt?
  • How can you make your credit cards work harder and start saving you money?

OFFSET ACCOUNTS
We all love to reduce debt, but is paying debt the best option when effective use of an offset account can provide the same financial outcome, while allowing greater flexibility for lifestyle choices? An offset account can take years off your home loan. Ask us today.

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SUPERANNUATION

What is a Balanced Fund? Where can I invest my Super? Are my employer contributions enough? Should I salary sacrifice? Should I consolidate all of my funds into one? Are insurance premiums eating away at my balance? These are just some of the important questions you need to consider.

TAKE CONTROL OF YOUR SUPER
You can have ultimate control over how your super is invested. Superannuation doesn’t perform poorly, asset classes perform poorly when they are inappropriate to your risk profile. Establishing the right Super structure for you is vital to ensuring you retire with assets that have not been eaten away by fees, over zealous fund managers or the wrong risk profile for you.

WHAT’S YOUR SUPER PERSONALITY?
At Edge we spend time going through your financial goals, lifestyle choices and tolerance for market movements before making recommendations. In assessing your risk profile, we establish the best investment strategy for you:

  • Would you like someone to manage your fund for you or would you prefer more direct input?
  • Would you consider more exposure to the markets via a geared fund within Super?

Our experienced advisers can help you take control of your Super for maximum long term growth. Get in
contact today. 

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Insurances

If the unthinkable happened and you could no longer work, would you be able to look after yourself? Could you still pay the mortgage or rent? Car repayments?
Grocery bills?

Insurances can often be the first sacrifice when juggling budgets. But the good news is that with the right advice, you can provide yourself with a safety net with minimum financial impact on your lifestyle. Consider:

  • Total and Permanent Disability Insurance
  • Trauma/Critical Illness Insurance
  • Income Protection Insurance
  • Death Insurance

Our advisers can help you interpret complex policies and make the right choices for your circumstances:

  • Will your premiums stay the same or increase
    with age?
  • Are they calculated on an agreed value?
  • What is your claim stand down period?
  • What are you NOT covered for?

We’ll assist you to determine how much of each type of cover you need and if the policies should be considered in isolation or as part of a total package.
Don’t delay peace of mind, protect your future today.

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Health Insurance

There are many reasons for ensuring you have the appropriate health insurance cover. For some, it’s to save tax (Medicare Surcharge Levy). For others it’s peace of mind. It’s important to remember that the earlier put your insurance in place, the lower the premiums will be. There are many providers and many types of cover that you need to be aware of. You can just choose hospital cover or maybe you would feel more comfortable knowing that physio, dentistry or optometrists are also covered under your plan. If you earn over $84,000 and you don’t have private health insurance then the Government will charge you an extra 1% in tax. There are some insurance policies that will cover you enough to avoid this extra tax, so you can make the most of your expenditure. It is important to review your insurance each year, as benefits and premiums change. Give us a call and we will be happy to assist you in the process.

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Estate Planning

It’s never too early to organise your financial affairs. Understanding that death does not erase debt and being clear about how your estate and assets are structured will ensure that you leave a positive legacy to those you love.

  • Who will execute your Will and ensure funds  are appropriately distributed? Do you need a Trust set up to ensure your wishes are adhered to?
  • Who will be your Power of Attorney?
  • Do you need to review your Life Insurance?

Talk to us today to discuss your estate plan and ensure peace of mind for you and your family.

 

Edge Financial Planning