Will this year be different?

The holidays are over but will 2008 be different financially for you? You can be sure that if you do what you did in 2007, this year will be much the same. Here are ten tips so that next Christmas you can look back with pride at your accomplishments.

Tip 1: Control your super

You may be able to get your nest egg growing faster by consolidating your super in one account, cutting out unnecessary fees and investing for the long-term. See you financial planner for further advice.

Tip 2: Monitor your bank accounts

Check your bank statements to make sure you are not being overcharged. Close accounts you don’t really need.

Tip 3: Pay bills on time

Qualify for discounts by paying on time. Paying late can damage your credit rating and make it tough to get a loan when you need one in the future.

Tip 4: Get the best phone and Internet deal

A little research can get you a good telecommunications deal and give you faster and more convenient services.

Tip 5: Know where your money goes

Reducing expenses means knowing where you spend your money. Cutting out one $3.50 cup of coffee a day means an extra $1300 in your bank account at the end of the year.

Tip 6: Plan for next Christmas

The gift giving and holiday season will often dent your bank balance. Start a simple savings plan now by estimating what you will need and putting away a little each payday.

Tip 7: Make sure you’re covered

Disasters only happen to other people, right? You’ve got home, contents and car insurance – but are you covered for the right amount. What about life insurance and income protection? How long could you and your family survive if you lost your income?

Tip 8: Have an up to date will

It makes sense to review your will every time a major change happens in your life. You do have a will don’t you?

Tip 9: Save tax

Now is the time to get your affairs in order to ensure you minimise your tax this year – and plan to do even better next financial year.

Tip 10: See a financial adviser

If your taps leak- you get a plumber, if you have tooth ache - you see a dentist. Getting good advice can help you achieve your financial goals faster.

If you can’t action all 10 tips, at the very least choose two or three, and make a difference this year.