With help from a great infographic by Chris Palmer of The Conversation, our Orange Branch Manager Deb Linneman summarises how the Federal Budget will affect you and your business and gives you 5 tips to get your own personal or business budget into "surplus".
As the above infographic shows, there is a bit of pain for high income earners through to pensioners as well as a bit of joy for businesses in the Budget handed down on Tuesday night. The other item of note is that the Government has abolished the First Home Saver Accounts scheme.
How is your family or business budget? Use the end of financial year and Budget time as a catalyst to get your personal finances and planning for your financial future sorted. Here are five tips to help you be in "surplus" long term.
1. Start saving. Come and talk to me or one of my colleagues at The Greater about opening the right accounts to really start saving for your goals.
2. Switch your home loan. Talk to me or my colleagues about switching your home loan to The Greater. With our great rates and low fees we may be to save you thousands. PLUS if you take out our Great Rate Loan you not only get a low rate you also get a choice of four holidays on us.
3. Fix your home loan. If you want some Budget certainty, you may wish to consider fixing your home loan. We've recently cut the rates on many of our Fixed rate Ultimate Home Loan. Our fixed Great Rate Home Loan also comes with the choice of the four holidays.
4. Review your business finance options. Our Business banking team did a comparison, over a 14 month period, of business people coming to us for a comparison of the deal they were getting from their bank compared with what The Greater could offer. In 92 per cent of cases the Greater could save them money. The average benefit of switching to The Greater was $1,963 per annum, made up of $584 in reduced fees and $1,414 in interest.
5. See a financial planner. They can really help you to work out what you need to do to increase wealth and reach your financial goals whether you are planning to buy a home, start a family or retire. Greater customers receive a complimentary no obligation initial consultation with the experts from Bridges.
To find out more, click on the links above, call into your nearest Greater branch or phone us on 1300 651 400.
Please share your Budget tips with me below.