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COTA

Love Longer, Live Happier

14/2/2017 - Guest Blogger, Police Credit Union

Love Longer, Live Happier.live longer, live happier

With New Year celebrations behind us we turn our minds to the always romantic, Valentine's Day. That got us thinking, how many Valentine's Day cards have you written over the years? As Australians continue to improve their health it seems that we will have more and more years to share together with our loved ones (well we can only hope). In fact, these days the average Australian will be around to celebrate up to 82 Valentine's Days in their lifetime! That's a lot of cards, roses and chocolates...

But what does that mean for you financially? It would be lovely to live every day like we were on a holiday or date but, like all of the finer things in life, everything from small romantic gestures to the most practical expenses come at a cost. With those costs comes the need to get serious about your finances. If you want to ensure that you can love longer and live happier, these helpful tips might be a good place to start:

Don't set and forget

You may feel like you are financially stable, and by all means, you might be... But a lot of people get comfortable and think that they have everything sorted, only for their situation to change unexpectedly. Don't have financial regrets, it might not be the most romantic exercise but lock in a time every year to reassess your situation. You might find that you are on track and nothing needs to be done, but you might also find that you need to do something different. Make those changes and feel better about your future.

Don't assume that everything will take care of itself

"It'll be alright". "Everything will sort itself out". This can be a nice way to look at life, but what happens when everything doesn't sort itself out? Put a plan in place. You will never regret it and remember, a plan doesn't have to be set in stone, and you can always make changes as they are required. Preparing for the worst could be something as simple as reviewing your current insurance policies.

Remember, financial planning is a journey, not a destination

The world is forever changing and typically this means your financial situation will need to change, too. Anything can happen and so, on top of being prepared, you should continue on the journey of bettering your situation. Everyone should have a financial plan. What are your big goals in life? Take the time to map these out. Don't forget to include the fun things in life like a much needed getaway or special hobbies, then plan on how you will achieve these goals.

The little things always count

It doesn't have to be thousands or even hundreds... putting away a little bit here and there will always mean that you have something to access on a rainy day. It sounds so simple but how many of us actually do it? Start now and reap the benefits tomorrow. Perhaps you need a more structured savings plan... consider investing in term deposits which allow you to maximise interest in set time frames.

Educate yourself

We are living in a time where we have no excuses to say "I didn't know". Information is everywhere and in so many forms that make access a lot easier. Websites, organisations such as COTA SA, brochures... You can always find the answers to your questions and get informed to make smart decisions. Use the resources that are available to you and that you feel comfortable using. You will be better for it. Learning new things might open up new financial opportunities that you didn't know you had like using your existing home equity to fund home care services, enhance your lifestyle by taking a trip or buying a new car, or simply an income supplement.

Whatever your future may hold, whatever your plan may be, never feel afraid to ask questions. Always have the confidence to take the time to make the right decisions for you. After all it's your life and you deserve only the best. If you do feel that you would like to learn a little more about your financial options, you can make a free appointment to see a financial adviser, Cathy Greven at the COTA SA office on a Monday afternoon, to make an appointment simply call reception on 08 8232 0422. Alternatively, Brenda Davidson from Police Credit Union is well equipped to help you, no matter your situation, so why not call her to find out more on 0438 859 736.

This is a guest post from COTA SA Organisational Member, Police Credit Union. To find out how you can do better than the banks head to policecu.com.au/ #BetterBanking

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Police Credit Union Ltd ABN 30 087 651 205 AFSL/Australian Credit Licence 238991. Terms, conditions, fees, charges and lending criteria apply. Full details available upon request. Not  available for online applications. Any advice herein does not take into account your personal objectives, financial situation or needs. Please consider your circumstances and the Information Statement available from PCU to decide if the product is right for you.