What does being in financial hot water mean to you? Most of us will have experienced some classic moments: moving out of home, learning how to budget so you can eat, afford the rent and maybe go out every now and then. For others, starting a business and navigating cash flow issues to pay suppliers and your own expenses on time or getting ready to start a family are also times when you wish your financial fitness was a bit better.
Of course, each of these situations is brim full of excitement and joy along with fear, but if you take these three steps into consideration you can reduce the anxiety around money and handling your finances.
Stop and reflect on what’s happening.
Decide what key actions you could take to make life easier.
Growing your family - whether just starting out or planning for the arrival of another child – has its positives and negatives. Over the life of your family there will be a lot to pay for: childcare, school fees, a larger car, dental and possible health emergencies are a few.
One great way to cope if your family is growing is to be prepared.
In less time than it takes to watch a feature movie, you can read about how to get yourself and your finances ready to navigate your new world with this Financial Fitness course for New Parents. The course and resources have been put together by our experts at the Davidson Institute, Westpac’s online financial education specialist centre.
You can pick and choose where you begin and what interests you or do all three parts for a full financial workout. It’s hands-on, full of useful tips and structured to help you increase your financial fitness safely, leaving you free to enjoy the moment.
This information is general in nature and has been prepared without taking your objectives, needs and overall financial situation into account. For this reason, you should consider the appropriateness for the information to your own circumstances and, if necessary, seek appropriate professional advice.