Too Much Debt...

Too much debt…

More and more Australian Families are finding themselves in a debt crisis. With the introduction of lines of credit, credit cards and the availability of credit in general, more Australians are finding it difficult to get their head above water and make ends meet.

This leads to stress with partners and families, and often leads people to a merry-go-round situation for many years, never becoming debt free, in most cases until retirement. This means there was never enough money to even begin creating wealth. As a result, the quality of life for over 90% of Australians will be extremely poor during the 30 or so years of retirement.

Did you know that if you currently have a mortgage you could be paying up to three times what you borrow in interest? What makes it even more difficult is that you have to pay up this in after tax dollars.

Australians are now more in debt than ever. Lines of credit offered by banks and other lending institutions are eating away at our equity and keeping us in debt longer than ever before. As part of an effective long-term financial planning strategy, debt management and debt structure must be considered.

Too much to worry about?

These days most people with a mortgage and young families don't have the time to be studying financial planning facts and figures. People are working longer hours and there are more financial pressures. Car payments, the mortgage, credit cards, interest free loans etc that all need to be paid. Not to mention the cost of living, interest and taxes. Even buying the first home these days seems daunting and out of reach to most people.

Today around the world more people are realising it makes so much sense to place your finances in the hands of someone you can trust who specialises in taxation, superannuation and all areas of money. We help you and guide you through the ever changing complex legislation relating to all areas of financial planning to assist you to retire in comfort.

Are you willing to take a gamble with you entire financial future? Place a call to us now and secure your financial future. Don't gamble it!

Little or no savings?

With the cost of living on the increase, more access to credit, the increase cost of entry into the property market, more and more people are finding it difficult save anything.

Another major factor to this is that most people spend in an undisciplined manner and have no idea what it actually costs them to live.

Most people don't realise the importance of managing the personal home finances in such a way to allow some savings to be made. In fact most people spend everything they earn most of their lives. They only realise they should have done more when it's too late.

The team specialise in assisting you turn your home finances into a successful 'business', ensuring there is a profit at the end of the year rather than just more debt. And as part of our unique "Wealth Creation Program" our team can show you new and innovative ways to save money. And not just by spending less, but by paying less tax, less interest and increasing the returns you may be currently getting on your investments.

Not enough protection?

When things get tough the first thing people cancel is their personal insurance. Having your bases covered with the correct level of insurance is an intelligent move. You never know when tragedy may strike. Think about this. Do you think any one would have boarded the Titanic if they knew it was about to sink?

What would happen to you if you hurt yourself at home or work and you were not covered? Who would pay the bills and provide an income to sustain your family and you lifestyle? It makes sense to insure your car or you home contents, yet many people don't see the importance of insuring their income.

Further to this our statistics indicate that those current clients that do have themselves protected in some form were paying more than they needed to, plus they were under insured..
Some people think they just cannot afford it. Such ones may be surprised at the possibilities that are available to them to be able to fund their insurance needs through superannuation. Your advisor will be able to explain to you the pros and cons of each of the options available to you, as well as its impact on your long term wealth creation.

Would you like a us to show you how you can insure for more while paying less for all you insurance needs?

The contents of this blog are of a general nature only and have not been prepared to take into account any particular investor’s objectives, financial situation or particular needs. Where this publication refers to a particular financial product then you should obtain a Product Disclosure Statement (PDS) relating to that product and consider the PDS before making any decision about whether to acquire the product. We also recommend that you should seek professional advice from a financial adviser before making any decision to purchase any financial product referred to on this website. While the sources for the material are considered reliable, responsibility is not accepted for any inaccuracies, errors or omissions.

Tarnia Gurney (ASIC No. 292206) trading as Gurney Financial Services (ABN 85 296 598 954) an Authorised Representative of AFG Financial Planning, Australian Financial Services Licensee Number 247105, ABN 74 099 029 526.