11 Jul 15 common sense tips to help manage your finances
Key Points:
- Getting your personal finances right can be a challenge at times. Here are some common-sense tips that may be of use:
Shop around when it comes to financial services.
Don’t take on too much debt.
Allow for interest rate to go up and down.
Contact your bank if struggling with mortgage payments.
Seek advice regarding fixed versus variable mortgage rates.
Allow for rainy days.
Credit cards are great, but they deserve respect.
Use your mortgage for longer term debt.
Start saving and investing early.
Plan for asset prices to go through rough patches.
See financial events in their longer-term context.
Know your risk tolerance.
Make the most of the bank of Mum and Dad.
Be wary of the crowd.
And…there is no free lunch
