Mo Money #449 How to plan smarter with money
May 8, 2025
Discover how to create a rock-solid financial plan with actionable steps and insights. Learn smart budgeting techniques and the importance of strategic tax planning to enhance your savings and investments. Understand the nuances of mortgage management, including the benefits of redraw versus offset accounts. The discussion also emphasizes the value of expert advice during crucial financial decisions and highlights common pitfalls to avoid on your wealth-building journey.
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Clarify Your Financial Baseline
- Get clear on your income, expenses, savings, and investments to know your baseline.
- Build your financial plan considering changes ahead like family, job, or lifestyle shifts for accuracy.
Select Your Financial Pathway
- Choose financial pathways like saving, investing, paying down debt, buying property, or boosting super.
- Pick a path comfortable for your lifestyle now and future goals, then create an action plan to execute.
Automate and Refresh Your Plan
- Automate savings, investments, and money management to build wealth without constant effort.
- Refresh your financial plan annually to adapt to changing goals, market conditions, and mindset.
