Karen, and Colin from Shadforth, meet up to give the best advice with your hard earned money!
Colin is chatting about investing options for our money. This time Colin is talking about 3 priorities before investing, which includes:
- Have your debt under control
- Having enough cash for emergencies and
- Insurance protection.
Looking at point 2, how much emergency money should you have? Well, Colin recommends about $10k in reserve for emergencies, as modern life can require a lot of money sometimes!
Ideas for saving money for emergencies or otherwise are:
- Save money into a normal bank account,
- Put more money into your mortgage,
- Set up a line of credit and
- Salary sacrifice money into your superannuation.
Start today! From little things big things come!
More advice at: http://www.moneysmart.gov.au or listen in below!