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Good financial management allows you to map out your goals and strategies so that you can achieve them and get more out of your money. These should be done and reviewed regularly as you move through the different stages of life. In this post we look at some of the ways you can maximise your money, which can help you achieve success with tangible goals like retiring earlier, investment returns, or spending less of what you make. Speak To Someone With finance expertise Get financial advice! Speaking with an experienced financial planner is the best way to understand your financial position, and the steps you can take to give yourself a comfortable future. The top three areas you might want to discuss with a financial planner are: Budgeting - being able to factor in budgets for holidays or upgrades to the house can have a positive impact on your family. Getting out of debt – debt consolidation can be a great way to reduce the many repayments you have outgoing to different loans. Eliminating or consolidating debts will reduce the burden of interest and loan repayments. Check out our article on debt consolidation. Savings and investments – after making a budget and reducing your debt, you may feel financially comfortable to look at different savings and investment options. ASIC’s Money smart website has a list of investment options that a financial planner can explain to you in more detail. Your Family Plans - Building a bright future As we mentioned at the start, you and your family will move through different life stages. Financial needs and obligations change when children are born, as they grow and when they leave the family home. Having a good plan in place with achievable goals will ensure your finances get you through these stages. For example, learning how to make a budget and save money may be more important during your children’s early years until they are young adults with jobs. This all depends on the type of lifestyle you and your family want to live. Having a thrifty attitude is an excellent money saving tip, and can see you save money throughout the year by following these simple actions. Shop around for the best deal on purchases Change small spending habits e.g. taking your lunch to work rather buying it Review regular expenses Retirement Plans - Staying comfortable and independent It’s not just the immediate future that you need to consider, with more of us living longer, retirement must also be considered even if it feels like a long time away. To have a comfortable retirement, and possibly even an early retirement, it’s important to learn to save money, and make contributions to superannuation if feasible. Enjoy your senior years without the financial stress. Nobody wants to be a burden to their children so it’s important to have a plan in place to stay comfortable and independent in retirement. Speak to a financial planner or use the retirement and superannuation pages on ASIC’s site for more information.  If you’re looking to maximise your money, get in touch with us today. We’re here to make the process easy and provide a great experience. Horizon Bank has a branch network spanning the NSW South Coast and Illawarra. Horizon Bank branch locations: Albion Park, Bega, Bermagui, Berry, Merimbula, Moruya, Nowra, Thirroul, Ulladulla & Wollongong. The content in this arti​cle has been prepared by Horizon Bank for general information only and it is not intended to be professional advice. It does not take into account your objectives, financial situation or needs. You should seek your own legal, accounting, financial or other professional advice where appropriate, and consider the relevant General Terms and Conditions before deciding whether to acquire any products or services offered by Horizon Bank and/or its affiliated partners. We do not recommend any third party products or services referred to in this article unless otherwise stated and we are not liable in relation to them. Any links to third party websites are for your information and we do not endorse any content on those sites. Horizon Credit Union Ltd ABN 66 087 650 173 AFSL and Australian Credit Licence Number 240573 trading as Horizon Bank.

In this blog we’ll look at proactive ways you can begin to implement a savings plan, which will be beneficial for you and your family’s long term financial management. In particular, we’ll discuss debt consolidation, choosing the right insurance cover, tips for living off one income and making smart choices for retirement. Consolidate your debt An important step in organising personal finance is to consolidate debt. If you have multiple credit cards and personal loans, consolidate these into one. You are likely to be better off paying one combined loan, with a single interest rate, rather than many loans with different interest rates. Debt consolidation makes managing your money easier, as you won’t be juggling multiple payments each month. It will give you a better understanding of what money is coming out of your accounts, allowing you to better prioritise your spending. Check out our blog on how to make debt consolidation work for you. Have the right insurance in place A good personal finance practice is having the right insurance in place, as well as the appropriate level of cover. You don’t want to risk being under insured. You can use the CGU insurance calculator to check that you are insuring your assets for the correct amount. Ensuring your home and contents and car insurance policies are up to date is another good practice to keep in the habit of. Your current insurer is likely to email you or send you a copy of your policy when it is due for renewal. Use this time to compare policies online for the best value. Protect the assets you have to avoid being out of pocket in case of an incident or accident. Fill out our online form to get a quote for insurance through us. Securing your information Having all of your important documents in one place is great for financial management and crucial to be able to access them in an emergency. Important documents include insurance policies, wills, birth certificates, passports, as well as investment and super documentation. Keeping a hard copy in a home safe or safety deposit box is a good idea, you can always keep digital copies on an external hard drive or in a cloud based program, such as Google Drive. Live on one income where possible A good savings plan will teach you to regularly put money away in case of emergency or when there are changes happening within your family. Good examples of this are when someone is off work due to illness or injury or if you are starting a family. Practice living on one income and put some or all of the rest of your earnings into a savings account. You can use our budget calculator to show what a budget might look like with only one income, which can help to identify which expenses you need to cut back on. Don’t forget about retirement It’s never too early to begin thinking about retirement. Future financial management planning includes considering your transition to retirement and any associated costs with downsizing, accessing or consolidating super and wealth management. Making an appointment with a trusted financial planner is a good idea at any age. Proactively setting up you and your family’s future doesn’t have to be hard. It’s all about having a plan in place with the relevant insurances and a good savings mindset in action. Need some extra help with putting a plan together to protect your assets and finances? Get in touch with the friendly team at Horizon Bank today and let us help you on your journey. Horizon Bank has a branch network spanning the NSW South Coast and Illawarra. Horizon Bank branch locations: Albion Park, Bega, Bermagui, Berry, Merimbula, Moruya, Nowra, Thirroul, Ulladulla & Wollongong. The content in this article has been prepared by Horizon Bank for general information only and it is not intended to be professional advice. It does not take into account your objectives, financial situation or needs. You should seek your own legal, accounting, financial or other professional advice where appropriate, and consider the relevant Product Disclosure Statement and General Terms and Conditions before deciding whether to acquire any products or services offered by Horizon Bank and/or its affiliated partners. We do not recommend any third party products or services referred to in this article unless otherwise stated and we are not liable in relation to them. Any links to third party websites are for your information and we do not endorse any content on those sites. Horizon Credit Union Ltd ABN 66 087 650 173 AFSL and Australian Credit Licence Number 240573 trading as Horizon Bank.

Looking to entertain the kids this upcoming Christmas season, but worried about overspending on school holiday activities? We’ve put together some budget-friendly Christmas activities for kids that the whole family can enjoy. Make your own Christmas Decorations Encourage kids creativity by getting them to make their own Christmas ornaments. Buying a few inexpensive baubles that can be painted, decorated or filled with things is a great way to start off. You could even make this a special tradition each year and you’ll have many meaningful ornaments to hang in the years to come.  This is a great way to save money, as these decorations double as gifts for grandparents! Another great Christmas activity at home is to give your kids a Christmas themed colouring book. Encourage them to fill out the pages and then use them as decorations on your fridge. Baking Christmas Treats Making homemade biscuits and other sweets with the kids is a great way to get them learning about making things in the kitchen, and is an inexpensive gift for neighbors, teachers and friends. Get your kids to decorate a batch to take to day care or school to share with their friends if permitted. Visit Santa for free Save money on Santa photos this year by researching where the man in red will be. Instead of heading to the shopping centre to see Santa, find out where you can visit him and take your own pictures for free.  Small businesses, charity fundraisers or schools are a few places that get visits from Santa. Open a Christmas Club Buy a Christmas themed money box for your kids to put their coins in throughout the year, then take them to your local branch to open their own Christmas Club account for the following Christmas. By teaching them good saving habits, they’ll be excited when they can use that money to buy a gift. Take a trip around the neighborhood There are some pretty spectacular displays around your kids are sure to enjoy. You can’t go wrong with a cup of hot chocolate and a trip in the car to see Christmas lights.  Playing Christmas music while you drive around only adds to the Christmas cheer. Volunteer your time Help spread joy this season, save money and instill great values by volunteering in your community.  Local churches, homeless shelters and community centres can help you find a way to give back this year.  Putting together Christmas hampers or helping serve food with your children is a great way for them to learn that Christmas is about giving. Carols by Candlelight Many local councils and community groups such as the Lion’s Club will put on carols, or some other family-friendly event over the Christmas period for families to enjoy. Pack a blanket and some snacks, grab some friends and make an evening of it. Are you looking to get on top of your finances for next Christmas? Let our team at Horizon get you on the path to savings success. Get in touch with us today and let us help you on your journey. Horizon Bank has a branch network spanning the NSW South Coast and Illawarra. Horizon Bank branch locations: Albion Park, Bega, Bermagui, Berry, Merimbula, Moruya, Nowra, Thirroul, Ulladulla & Wollongong. The content in this article has been prepared by Horizon Bank for general information only and it is not intended to be professional advice. It does not take into account your objectives, financial situation or needs. You should seek your own legal, accounting, financial or other professional advice where appropriate, and consider the relevant General Terms and Conditions before deciding whether to acquire any products or services offered by Horizon Bank and/or its affiliated partners. We do not recommend any third party products or services referred to in this article unless otherwise stated and we are not liable in relation to them. Any links to third party websites are for your information and we do not endorse any content on those sites. Horizon Credit Union Ltd ABN 66 087 650 173 AFSL and Australian Credit Licence Number 240573 trading as Horizon Bank.

‘Tis the season… To avoid overspending and dampening your Christmas cheer, follow our 4 tips to keep your Christmas budget on track. Christmas budgeting tips - Put money aside A separate Christmas club account is a great way to put aside money for the festive season throughout the year to alleviate the pressure of coming up with hundreds of dollars out of nowhere come November/December. Make a list and check it twice Making a list and allocating an amount to spend on a gift per person will give you a starting point before hitting the shops. Making a list is great for other things you need like entertainment supplies such as decorations, food and drinks. Discussing what a reasonable Christmas budget looks like with your significant other is also a great way to remain accountable for your spending. Encourage Christmas gift hacks Secret Santas and only buying for kids, or setting a firm limit with family and friends is a great way for everyone to keep their Christmas affordable and stress free. Shop smarter If you’re not strapped for time you could shop for next year by lay-buying more expensive items now. Take the time to research your gifts online and search for discount coupons and codes to apply at the checkout. Try and buy a few items from the one place to avoid multiple delivery fees. Track your spending Using a budget calculator to keep a record of your Christmas spending will help you to keep your spending relative to your usual expenses. Christmas shopping on credit Buy now pay later services have become increasingly popular with consumers, and are a tempting way to pay off larger purchases. Be aware of how they work to avoid interest and late payment fees. If you’re thinking of increasing your credit limit on your credit card, consider how quickly you can pay off the extra purchases, to avoid extra Christmas debt well into the following year. Get in touch with the friendly team at your local Horizon Bank, to discuss how to manage your money over Christmas. Horizon Bank has a branch network spanning the NSW South Coast and Illawarra. Horizon Bank branch locations: Albion Park, Bega, Bermagui, Berry, Merimbula, Moruya, Nowra, Thirroul, Ulladulla & Wollongong. The content in this article has been prepared by Horizon Bank for general information only and it is not intended to be professional advice. It does not take into account your objectives, financial situation or needs. You should seek your own legal, accounting, financial or other professional advice where appropriate, and consider the relevant General Terms and Conditions before deciding whether to acquire any products or services offered by Horizon Bank and/or its affiliated partners. We do not recommend any third party products or services referred to in this article unless otherwise stated and we are not liable in relation to them. Any links to third party websites are for your information and we do not endorse any content on those sites. Horizon Credit Union Ltd ABN 66 087 650 173 AFSL and Australian Credit Licence Number 240573 trading as Horizon Bank.

How much does a wedding cost? They can be expensive, but smart planning might help you keep costs reasonable and within your spending limits. Even a low-cost wedding will require putting together a plan to minimise the impact on your money. Start with a wedding budget If you’re unsure of how much you want to outlay for your wedding, start by picturing your dream wedding and making a list of vendors and associated wedding expenses. Getting quotes is a good place to start to get an idea of what you want to spend. Your list could include all or some of the following: • Venue of ceremony and reception compare prices per head. • Outfits – including the bridal dress, bridesmaids and grooms outfits • Celebrant • Wedding cake • Band or DJ if not included with the venue price • Photography and videography • Table centre pieces, decorations and flowers (including bridal party bouquets) • Honeymoon • Specialty cars Once you have a projected figure, decide with your partner if this is suitable and the impact on your finances.  If it’s looking too expensive, think about where you could cut back. For example, less flowers, asking the bridal party to chip in for their outfits or switching to canape style rather than a sit down meal for your guests are a few options you could explore. The Australian Securities and Investments Commission (ASIC) has an infographic detailing average expense amounts on their Money Smart website. This is a great source for an overview of how the costs of a wedding can add up. Implement a savings plan Looking at your current income and expenses, how long would it take you and your partner to save enough to afford the wedding? You can use our budget calculator to work this out. If you’re looking at having a wedding sooner rather than later, you can speed up the process by making some sacrifices with your day-to-day spending and/or reducing the potential cost of your wedding by looking at the options we discussed above. The more you save, the less you will potentially have to borrow to cover the total cost of the wedding. Explore your finance options If you’re not going to be able to save the entire amount you need, you could consider either putting some costs on a credit card or taking out a personal loan. You could also ask family to contribute to the cost of your wedding if they are in a position to do so. Either way, you’ll need to consider how paying back a loan or family members will impact your future budget and finances as a married couple. Borrowing money – credit card or personal loan? If you’ve decided to take out a loan for your wedding, consider saving up a deposit first to reduce the loan balance in the first instance. A credit card comes with a higher interest rate, and may be better suited for smaller, less expensive wedding items. For a considerable amount, you may want to discuss taking out a personal loan, or see if you are in a position to redraw on your current home loan. Talk with one of our experienced lenders about your wedding finance options. This is the final step in securing the funds to pay for your big day. Horizon Bank has a branch network spanning the NSW South Coast and Illawarra. Horizon Bank branch locations: Albion Park, Bega, Bermagui, Berry, Merimbula, Moruya, Nowra, Thirroul, Ulladulla & Wollongong. The content in this article has been prepared by Horizon Bank for general information only and it is not intended to be professional advice. It does not take into account your objectives, financial situation or needs. You should seek your own legal, accounting, financial or other professional advice where appropriate, and consider the relevant General Terms and Conditions before deciding whether to acquire any products or services offered by Horizon Bank and/or its affiliated partners. We do not recommend any third party products or services referred to in this article unless otherwise stated and we are not liable in relation to them. Any links to third party websites are for your information and we do not endorse any content on those sites. Horizon Credit Union Ltd ABN 66 087 650 173 AFSL and Australian Credit Licence Number 240573 trading as Horizon Bank.

Want to learn about some key tips to save money for future spending? In this blog we’ll go through establishing a budget, creating short term savings goals, setting up your savings and checking your credit report. These are key practices to get in the habit of for an effective savings plan that teaches you how to save money. Establish your budget Get in the habit of tracking your spending by asking for a receipt for everything you purchase. You can then input your expenses into our budget calculator which will show you if you are ahead of your savings or if you’re in the red. The best way to save money is to identify where you can cut back on expenses and redirect that money into savings. Identify where your money is going each month by checking your direct debits on your statements. A good saving tip is to double check your regular payments to loans and credit cards for accuracy to make sure you’re paying the correct amounts. Aim for short term savings goals Setting aside a certain amount at regular intervals is one of the best saving tips you can implement. Base this off how regularly you are paid from your employer. Weekly, fortnightly or monthly deposits into a savings account will help you reach that savings goal for a new TV, car, holiday or whatever it may be. Short term savings goals will keep you motivated and on track. Make sure they are SMART goals – specific measurable, achievable, realistic and timely. People have more success with a savings plan when saving for long term items but starting with short term goals. Set Up Automatic Savings Every pay have your employer split a certain amount of your pay and transfer it to a retirement or savings account. Horizon does this in the form of a payroll split. We can split your pay so nominated amounts go into different accounts. This is the most effective way to save, as it puts extra cash out of sight and out of mind before you can spend it. Once you have your automated savings setup, you can then use a savings calculator to estimate how long it will take you to reach your savings goal. Plan gift-giving well in advance Keep a birthday book, or calendar for family and friends birthdays so you know when everyone’s birthday is coming up. This is the best way to save money on birthday presents, as you can take the opportunity to look for items on sale. Avoid impulse buying when it’s left last minute; take the time to choose a gift within your budget that the recipient will appreciate. Check your credit report once a year It is advantageous to have a good credit score when applying for a loan. A credit report tells lenders how trustworthy you are as a borrower and assists with your loan application. Keep track and make sure the information on your file is not outdated as this could impact your ability to apply for loans. Certain sites provide one free credit report a year. Check out the Australian Government website for more information. If you’re looking for more information on accessing a credit report, or want to know how yours will impact your loan application, feel free to give us a call and we’ll be happy to answer your questions. If you need some extra help with your overall planning and saving goals Get in touch with the friendly team at Horizon Bank today and let us help you on your savings journey. Horizon Bank has a branch network spanning the NSW South Coast and Illawarra. Horizon Bank branch locations: Albion Park, Bega, Bermagui, Berry, Merimbula, Moruya, Nowra, Thirroul, Ulladulla & Wollongong. The content in this article has been prepared by Horizon Bank for general information only and it is not intended to be professional advice. It does not take into account your objectives, financial situation or needs. You should seek your own legal, accounting, financial or other professional advice where appropriate, and consider the relevant General Terms and Conditions before deciding whether to acquire any products or services offered by Horizon Bank and/or its affiliated partners. We do not recommend any third party products or services referred to in this article unless otherwise stated and we are not liable in relation to them. Any links to third party websites are for your information and we do not endorse any content on those sites. Horizon Credit Union Ltd ABN 66 087 650 173 AFSL and Australian Credit Licence Number 240573 trading as Horizon Bank.

Moving in with a partner? Read our top tips for living in financial harmony. So you’ve decided to take the leap and move in with your partner? Congratulations on this big life step! After looking for a place to live, the next thing on your agenda should be to discuss sharing finances with your partner. Set expectations It’s time to be realistic about what type of spenders you are. If you’re savvy with your money and a great saver, whilst your partner is a little more carefree with their spending, you may need to discuss what you expect from each other financially. For example, if you’re not ok with late rent because your partner overspent on their last shopping spree, it’s best to bring that up early on. How to budget and save Let’s face it, everything costs money! Bills, food and insurances are just some of the expenses you’ll need to save for. Use our budget calculator to get an idea of how much you need to put away to cover your outgoings. Create a simple spreadsheet with all of your expenses and any income to see what you’re left with at the end of the month. Open a joint account The key is to decide what this account is for. Is it for paying bills? Is it for dining out and entertainment? You both need to decide how much you’re willing and able to contribute to your combined funds. Be clear on the purpose of combining your money so you can keep each other in check. Horizon has a range of savings and access accounts so you can get the most out of your money. Check out our best everyday accounts for young couples. Credit or savings? How will you make everyday purchases? Are you an avid credit card user or do you save for everything you buy? Whatever your method, let your partner know so this can be factored into your budget. Thinking a credit card is the way to go? Check out our low rate, no annual fee Visa credit card. Make it fun Don’t forget to treat yourself every once in a while. Dinner and a movie or buying those concert tickets will feel even more rewarding when you’ve been saving together. Living with a partner is a new and exciting experience. Whatever your financial outlook, open and honest finance conversations are key for financial (and relationship) harmony.  Thinking of moving in with a partner? Check out our range of savings accounts to get you started on your journey. Horizon Bank has a branch network spanning the NSW South Coast and Illawarra. Horizon Bank branch locations: Albion Park, Bega, Bermagui, Berry, Merimbula, Moruya, Nowra, Thirroul, Ulladulla & Wollongong. The content in this article has been prepared by Horizon Bank for general information only and it is not intended to be professional advice. It does not take into account your objectives, financial situation or needs. You should seek your own legal, accounting, financial or other professional advice where appropriate, and consider the relevant General Terms and Conditions before deciding whether to acquire any products or services offered by Horizon Bank and/or its affiliated partners. We do not recommend any third party products or services referred to in this article unless otherwise stated and we are not liable in relation to them. Any links to third party websites are for your information and we do not endorse any content on those sites. Horizon Credit Union Ltd ABN 66 087 650 173 AFSL and Australian Credit Licence Number 240573 trading as Horizon Bank.

In this blog we’ll look at money saving tips that are useful for a growing family. It is always a good idea to take a look at your finances and work out how to better manage your money and maximise your savings. As your family grows, so do your expenses and outgoings. We’ll provide some practical ways to reduce your spending and save money.Below are some simple tips for ways to save money.         Set a goal for what you’re saving for Decide what you’re saving for, how much money you need to save and by when. Whatever it might be, saving for a purpose feels good and is easier when you have a clear vision for your money in mind. Be sure to make it realistic to avoid disappointment. Keep reading below for different ways to save money. Use a budget planner calculator Budget calculators such as ours are great for a simple representation of your income and expenses designed to help you get a clearer picture of your finances. Check out our budgeting calculator. You could also try a budget planner app or personal budget planner. There are free versions of these tools online and they get you in the habit of tracking your spending. It also helps you understand where you’re spending and where you might save money by switching or eliminating.   Look for alternatives To save money, you will need to get creative and look for alternative ways to fund certain activities. Try going for a walk or jog rather than paying for a gym membership. Try buying non-perishable items in bulk and take advantage of cash back schemes such as return and earn. Comparing insurances and electricity/gas suppliers is a good way to make sure you’re always getting the best deal. Set up a savings accountA savings account with a great interest rate that encourages you to save money is a big help. Check out Horizon’s Reward Saver account to get started. It is easy to open an account online and deposit funds. Regularly putting money away into a savings account each time you are paid is also a key component to saving. Check your statementsGet in the habit of checking your statements monthly for transactions that are out of the ordinary – it’s a good security practice. Every six months, check for memberships to clubs and societies you’re not actively involved in anymore so they can be cancelled, as should any magazine subscriptions or repeat direct debits you’re not using.Change small habitsAnother money saving tip is to look for regular expenses you could be cutting back on as you’re checking your statements. Daily coffees and eating lunch or dinner out all add up at the end of the week. Look up simple recipes online that you can cook at home and make it a family activity by getting the kids involved. Get rid of un-wanted itemsNo matter what the season, it is always a good time to de-clutter. Take a look around your home for un-used or un-wanted items in good condition that could make you some extra money at a garage sale or online. Deposit any money you earn straight into a savings account, or allocate it to an upcoming expense before it is spent on anything else.Hopefully these simple money management tips have given you a good grasp on saving, and will help you to manage your money in future. Use our budget planner calculator to kick start your savings journey Need some extra help with reaching your savings goal? Get in touch with the friendly team at Horizon today and let us help you on your journey. Horizon Bank has a branch network along the South Coast and Illawarra: Albion Park, Bega, Bermagui, Berry, Merimbula, Moruya, Nowra, Thirroul, Ulladulla & Wollongong