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Financial planning for the festive season

Leading up to Christmas it is easy to veer off budget, what with the seemingly endless gift lists, planning for parties and splurging on big ticket sale items.

In order to avoid the post festive credit card blues, planning and creating a budget well in advance will mean less debt stress in the New Year.

A few key things to remember:

  1. Try making it an all-cash Christmas. It is surprising what a difference a few $20 or $50 notes tucked away here and there can make when it comes to buying Christmas presents.
  2. Look through credit card statements to see how much is left to repay. While keeping this in mind, create a spending budget which also includes the potential interest, in order to be better prepared for the repayments.
  3. Implement a few tried and tested money saving tips such as doing a secret Santa with a cap on the amount spent, and asking those coming to the Christmas party to bring in a plate of food.

It will also help to squeeze in a few extra repayments to the credit card bill, mortgage or loan before Christmas, so that there will be less to pay off in the New Year, even if the Christmas budget goes off track.

Posted on 30 November '12 by , under General News.

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Before consolidating your super, it is important to do the following:

Research your funds' policy
Compare your active super accounts so you can make the right choice about which one you should close. Things to assess include:

  • Exit fees
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Check employer contributions
Changing funds may affect how much your employer contributes, as some employers contribute more to certain funds. Check your current accounts to see if changing funds will affect this. Once you have selected a super fund, regardless of whether you choose a new super fund or one of your existing ones, provide your employer with the details they need to pay super into your selected account.

Gather the relevant information
When consolidating your super, you will need to have the following details ready:

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  • Details of your previous fund.

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