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Make the Most of the Last Quarter of 2020

By Simon Cooper
September 4, 2020

It’s almost here — the last quarter of 2020. This has been such a difficult year that many people are just waiting for it to be over. It doesn’t have to be that way.You can actually get ahead before the new year.

We’ve got some tips for you to make the most of the final quarter of 2020 and be in better financial shape for 2021. Our suggestions are easy to implement, so you can start right away!

Good Plans Start with a Solid BudgetYou can’t know how to better use your money if you don’t know what’s coming in and what’s going out. Take an hour out of your weekend and head over to this budgeting tool.

Be honest with yourself about where your household spends its money. Understanding and using a budget is the best way to stay out of debt and save for things important to you and your family.Plan for the Holidays NOWOne in three Australians heads into January with Christmas debt. That’s a rough way to start a new year and, given what 2020 has shown, makes you less ready for an emergency.

As soon as you read this, you can start getting ready:

  • Make a list of people you have to buy for.
  • Make another list of those you’d like to buy for.
  • Put a dollar amount next to each person’s name — be honest about what you normally spend!
  • Add a line for holiday meals cooked at home.
  • Add a line for holiday drinks/meals eaten out.
  • Add in what you spend on a tree and decorations.
  • Don’t forget incidentals like wrapping paper, shipping costs and token gifts for your mail carrier, teachers, etc.

Now that you have your list, add it all up and divide by the number of weeks left in the year. Can you save that much? Until you can answer “yes,” keep chipping away at those expenses.Refinance Where You Can” use_theme_fonts=”yes”][vc_column_text]If you’re paying high-interest rates on a car or mortgage loan, look into refinancing options. They’re not always out there, but we find people will go years without even checking. Know your rates and shop around.

If you’re carrying high-interest credit card debt, weigh your balance transfer options. Be careful about the fine print though. Some companies will give you 0% for a year, but if you don’t pay it off in full, high interest becomes retroactive.Plan for 2021 and Beyond!” use_theme_fonts=”yes”][vc_column_text]At Forward360, we’re always thinking about your future. Reach out for a complimentary consultation to see how lucrative next year can be and how you can start planning TODAY for the future you’ve always dreamed of.

Your future can exceed your wildest expectations!

Simon Cooper

Co-Founder, Managing Director, Financial Adviser

Simon is a financial advisor who takes his work seriously. He ensures that all of his clients receive the best possible advice, so that they can reach and exceed their financial goals, both personally and professionally. Simon has been in the business for many years, and has a wealth of experience to share with his clients. He is known for being friendly and approachable, and always puts the needs of his clients first. Simon Cooper is an Authorised Representative of Reedy Capital Pty Ltd (AFSL No. 495539), Authorised Representative Number 1248807 and a financial adviser at Forward360.

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