A personal financial strategy doesn’t need to be complex to be effective. Whether it’s investing, budgeting or structuring your superannuation, the golden rule for managing your money is having a financial strategy plan in place that is simple, efficient and effective.

We cover some common areas that require advice below.

Bank account structure​
You may find you have too many bank accounts, each with different fees, features and interest rates that are becoming hard to manage, understand and transfer between.

On the opposite end of the scale, a common complaint we hear is that having a single bank account makes it hard to keep track of income, spending and savings.

Either way, a confusing bank account structure makes it hard to get a proper understanding of how you’re progressing.

Pension Plan
Data suggests that the younger generations are changing between employers and occupations far more frequently than previous generations.

Regular changes in employment have led to increased clients having multiple super funds.

Rule number one for pension plan is consolidation to avoid duplicating costs and conflicting investment strategies.

There are many things to consider when consolidating super, so it’s essential to seek the advice of a professional before doing so.

Insurance​
With so many different types of insurances and ways to structure your cover, it’s easy to find ourselves in a situation where you have various policies with varying levels of cover and different payment methods.

While it’s typical for the structure of your insurance policies to have variety, it’s vital that you have an understanding of the logic and reasoning behind it.

We take our clients through an educational process, so they can make more informed decisions and gain an understanding of the ‘why’ when it comes to protecting themselves and their families.

Speak to an WealthKube team member today to get started.