Pie chart How do you enjoy your life today, and still know you’re on track for long-term financial security? Getting the balance right is tricky for one person. It’s even harder for someone like Sally: a single mum with three kids and a mortgage. I helped Sally make sense of her finances, and showed her that she could afford some comforts right now, and still set her family up for the future.

Affordable quality of life

Sometimes when we see new clients, we have to suggest they rein in their spending. But Sally had already cut right back. She was working part-time while studying accountancy at CIT. On this income, she clothed and fed three children, sent them to good schools, and was ahead on her mortgage repayments. I knew this belt-tightening would pay off in the long-term, but Sally had an immediate need: a new bathroom. With two teenage daughters fighting for the shower, her young son never got a look in. It sounded to me like the family really needed some breathing space. Sally had thought about drawing on her mortgage to pay for the renovations, but wasn’t sure if she could afford it. Sally and I sat down and mapped out some scenarios for her financial future. We knew her wages would increase once she finished studying. We also knew that once she paid off the mortgage, she’d have more disposable income. With this information, I showed how she could afford a new bathroom now, as well as boosting her super so she would be able to meet her long-term goal of retiring in her 60s. And in a few years, Sally could look forward to spending more on herself.

Insurance to protect your family

Sally also wanted to be sure that her kids would be looked after if anything happened to her. Her life insurance was linked to her super funds. One of her funds – we’ll call it Fund A – had lower premiums. But the policy offered less and less cover each year of her forties, when the kids would still be at home, and most dependent on her. I suggested that Sally consolidate her super into Fund B. The premiums cost a little more, but it kept the same level of cover. Sally could be sure that her family would be protected. Working with Sally reminded me that people don’t always need a large sum of money for it to be worth talking to a financial planner. Sally had worked hard, and was starting to get ahead, but didn’t have much set aside just yet. With Sally, I showed her how she could afford a more comfortable life, while knowing she’d have good options for her future.

Contact us

You can call us any time to talk through your options. Or stop in to see us at 64 Northbourne Avenue, Civic. You can’t miss us — we’re on the ground floor, facing onto Bunda Street.

…or book an appointment now