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Money Saving Tips During Lockdown The current situation with Coronavirus outbreaks and subsequent lockdowns presents challenges as our habits and routines are thrown out the window. One thing you may notice is your spending and savings plans getting off track. With more time spent at home, you’ll likely notice an increase in the amount of food and power being consumed. Adjusting our budgets to reflect these changes is the best way to ensure we stay on top of our finances. Horizon Bank has put together some tips to ensure you are keeping your spending and your budget on track. Read on to find out how to apply them to your finances. How to save money in lockdown Shopping lists Shopping online at the moment is the safest and most convenient way to get items you need around the home. If you have started shopping online, it’s essential to use a list still and only buy the things you need. Keeping an eye open for sales and discounts is possibly now more important than ever. Keep an eye on your social media and email offers for when your favourite brands and stores are having a sale or clearance. A list is also vital if you are still heading to the supermarket, local convenience store or butcher for essential food items. This will curb the temptation to overspend or spend aimlessly. Keep in mind that individuals need to shop with purpose rather than browse. Food consumption may increase with everyone spending more time at home, so be mindful of this. Consider looking up recipes you can make with leftovers or with minimal ingredients to make your food shopping stretch further. Direct debits If you have had reduced work during a lockdown, you will want to review your automatic direct debit payments. Now is the perfect time to sort through them and pause or cancel any subscriptions that you can live without for a while, or that you we’re meaning to cancel anyway. Keeping track of your balance to avoid any overdrawn fees is a good idea. Speak to your bank about how to effectively manage this. You could also talk to your utility providers about a payment plan or changing the frequency you pay. Financial Support Financial support options from the government may be there for you, so it’s important to find the information you need to claim it. Use the links below to access financial support information. Business financial assistance  Disaster Payment - New South Wales  Work and financial support  Claim working from home tax relief If you are now working from home due to the coronavirus pandemic, you could claim some money back for working from home expenses. The Australian Taxation Office has articles about what individuals can claim whilst working from home. Here’s what you can claim if you’ve been working from home. Keep in mind you may need receipts and invoices as proof of purchase. Electricity expenses. Heating, cooling and lighting the area from which you are working and running items you are using for work cleaning costs for a dedicated work area phone and internet expenses computer consumables (for example, printer paper and ink) and stationery home office equipment, including computers, printers, phones, furniture and furnishings Review your service providers If you have been with the same phone, electricity or insurance provider, get in touch with them to see if payment plans or financial relief can be offered. This could be especially useful as you may find your energy bills have increased with everyone being at home for an extended period. Get in touch and chat with them about your different options during a lockdown and if they can do something to keep you as a customer. You may be rewarded with a discount if you have been a loyal long term customer. Now is also a good time to get in touch with your bank or financial institution if the coronavirus lockdown has financially impacted you. They may be able to defer your mortgage payments or organize an arrangement. Ensure you are fully aware of the impact of extended loan terms or deferred payments. Track Spending When you are more conscious you are of what you are spending, the less likely you are to overspend. Eventually, this will become a habit that you can use to save money even when lockdowns have ended. Check out these highly-rated budgeting and savings apps. If you’d prefer to keep a physical track of expenses, you can use an exercise book or a folder for receipts. A paper planner or diary would also work well. This will help you keep on top of your bank balance, and it may even see you have some extra cash at the end of the month if every dollar is accounted for. As a local Wollongong bank with branches across the Illawarra and South Coast, the team at Horizon understands this is a difficult time for many. We are happy to help you with any questions you may have about your accounts and banking needs. Get in touch with us today. 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.

What is Being Environmentally Friendly? Being environmentally friendly means living a lifestyle that is better for our planet and reducing your environmental impact. However, it does require some fundamental behavior changes in our shopping and everyday activities. It does also mean more than sorting your paper from your plastic. There are many ways you can become more environmentally friendly and lead a sustainable lifestyle. A few practices that can be implemented include; conserving water driving less and walking more Consuming less energy. A great way to do this is by changing lightbulbs - Replace old incandescent or compact fluorescent bulbs with LED bulbs. buying recycled products creating less waste by reducing your use of single-use plastics and paper planting more trees composting food scraps Making different choices on a personal level can help in changing your awareness and consumption of resources. Other ways to be environmentally friendly at home Invest in eco-friendly technology  Turning appliances off at the power point will help in lowering electricity costs. You can take it a step further by making sure that the tech and appliances you have are as energy-efficient as possible. This way, you're using much less energy for the time that the product is on, saving money, and reducing your energy output. Recycle everything Recycling paper, bottles and cardboard is great, but could you improve your recycling-ability and waste  reduction? You can recycle almost  everything, from batteries to paint. Before you throw it away, take a minute to find out if you could  recycle  it instead. Your local tip or recycling centre may  take things like mattresses, paint and E-waste at a cost. Recycling your food scraps in a compost bin will ensure you always have nutrient rich fertilizer on hand for your gardens.  Take your old clothes, shoes and bed linens to a charitable organization that can re-purpose them for those in need. Cut out plastic Plastic seems to be everywhere. To reduce your use of single use plastic, stop buying bottled water, opting for a reusable stainless steel bottle instead. Bring your own bags when grocery shopping and keep your fruit and veg loose in your trolley rather than using a bag. Invest in beeswax wraps to wrap sandwiches and other items in your children’s lunchbox like trail mix or cut up fruit. Change Transportation We currently have a campaign where new and existing members will go into a draw to win an ebike. (Ends 30 June 2021) If you live close enough to work, consider using an e-bike as your main mode of transportation. Cruising on an ebike can save commuters time and effort, so you can arrive at work feeling fresh. You can rule out the sweat factor and extra clothes involved with riding to and from work. Not only do ebikes provide the benefit of exercise, but because they run differently to other types of powered transportation, they are considered zero-emission vehicles  running on clean  energy as they are powered by a battery. Motor vehicles typically run on gas, petrol or diesel that release carbon emissions into the atmosphere whereas e-bikes don’t. Changing to an electric or hybrid vehicle is a great leap into becoming environmentally friendly and having a positive impact on the environment. Electric vehicle uptake in Australia is low, however this is expected to rise as cheaper models arrive and more charging infrastructure is rolled out. The biggest bonus is that greenhouse gas emissions can be eliminated if EVs are charged using renewable energy. Using an EV contributes to improving air quality as they produce no carbon dioxide emissions when driving. Thinking of purchasing an EV? Ask us about our car loan products to finance your vehicle. Support An Environmentally Friendly Business At Horizon Bank, we have sustainable business practices in place to remain a responsible and influential environmental citizen. We have solar panels on our head office building We recycle our printer cartridges through Close the Loop We use recycled paper for printing, and are constantly reviewing the amount we print to reduce paper usage. We have lights that are motion censored in our offices. They turn off if they do not detect motion for a specified amount of time. We Promote a healthy working environment by including plant life in our offices. Another one of our sustainability initiatives is to provide products that promote our members sustainability goals. Any business can promote a healthy working environment by considering natural light and air ventilation. These improvements can vastly enhance the quality of the air within a workplace, so if you’re a business owner it may be worth getting a professional in to consider the options available. Whether it is installing skylights in a dark and dingy office space or getting ventilation systems added into a busy warehouse or manufacturing area, there are many ways in which the space where employees work can be enhanced. Some other simple business practices to reduce energy usage is to have energy efficient appliances with standby or energy saving settings. Chemical management and using green products for pest control and weed management is also another way to contribute to environmental practices. At Horizon bank, we take sustainability and the environment seriously.  Visit us online to learn more about our Green Horizons’ key strategic initiative.  With branches conveniently located across the Illawarra and far South Coast in Thirroul, Wollongong, Albion Park, Nowra, Ulladulla, Moruya, Bermagui, Bega and Merimbula there is always someone you can chat to in person. 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 take a look at some practical ways you can make changes to your spending and saving habits. At this time in your life, you’re likely in full time work and may have just bought your first home or investment property. You may even be thinking about starting a family. Whatever your personal situation, read on for simple ways on how to save money. Have a Personal Budget Check out our blog on budgeting tools and tips to get started on a budget. It is important to list your income and expenses honestly to get a good grasp on where you need to cut back and save on. Get rid of your debt Car loans and credit cards are typical debts for people in the under 30 age category. A great money saving tip is to pay these off quickly and reasonably. The key is to set up a recurring direct debit from your pay. This also means committing to paying off more than the minimum monthly balance. Paying off credit card balances in full and on time is essential to avoid extra interest charges and late payment fees. Track how much you spend Sometimes we can fall into the trap of thinking spending on big ticket items is what gets us into trouble, when often it’s the little recurring, everyday purchases that end up costing us more. For example, regular takeaway coffee, lunches and parking costs all add up at the end of the month. This is why it’s important to keep track of your day-to-day spending, so you’re keeping on top of your personal finances and not living beyond your means. There are plenty of apps for this, check out ASIC’s MoneySmart app. Your bank statement is a good place to start and will tell you how much money is going into your bank account and how much is going out. You can then compare this with your budget to see whether you’re sticking to it or not, making it easier to identify areas you need to save. If you find yourself impulse buying, consider how long you have to work for to pay for that product. This will help you evaluate if it is worth the money. Saving & investing your money now The best money saving tips and savings plans are forward thinking with the future in mind. Working hard and saving money will enable you to have a comfortable lifestyle if you decide to expand your family with children. There are many ways to invest spare savings that all provide different returns. ASIC’s MoneySmart website has more information on investing. Alternatively, seeking advice from a financial planner is useful at any age to create an investment plan that will set you up for the future. Plan ongoing expenditure Having a plan for your expenses is a great way to save money and automate many of life’s everyday tasks. ‘Bill Smoothing’ is offered by some electricity and gas companies which allows consumers to pay off bills fortnightly or monthly. This can be included in your budget planner and it works well for people on tight budgets and avoids ‘bill shock’ where you’re required to pay off one large bill. Planning meals is another great way to avoid overspending on the weekly shop. Planned meals means you know exactly what groceries to purchase and this will avoid random visits to the supermarket. Get started on your savings journey by using our budget planner calculator. Horizon Bank has a branch network spanning the Illawarra and South Coast with offices at: Thirroul, Wollongong, Albion Park, Berry, Nowra, Ulladulla, Moruya, Bega, Bermagui and Merimbula. 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.

Should I sell or renovate my house? If you've been thinking about making a change to your living situation, there is much to consider such as time, money and the needs of a growing or downsizing family. Beautifully styled homes on social media are often attention-grabbing and leave us wondering how we can implement these ideas in our own homes. Renovating homes has increased in popularity due to the rise of reality TV shows such as The Block and Selling Houses Australia. The availability of inexpensive materials and DIY videos has also seen many people taking it upon themselves to make home improvements. In this article, we'll compare the pros and cons of renovating versus selling your home. So, if you find yourself faced with the decision to sell up or renovate, you can decide on the best strategy that will suit your circumstances. What's your best option? Pros To Renovating your current home Rather than selling up, many homeowners decide to renovate instead. One of the main reasons is because of the many costs associated with buying and selling real estate – advertising, stamp duty and sales commission to name a few. Carrying out renovations on your existing home comes with some real advantages. Renovating allows you to: Increase the value of your home – quality renovations are often an effective way to add value to your home and potentially sell it for a larger profit later down the track. Boosting rental income – If you're looking to rent out your home, minor renovations can be a good way of increasing rental income. Talk to a local real estate agent to get their view on how your property could be improved. Ask what renters are looking for in the area to give you an idea of how to increase your property's rental appeal. Improve the functionality and comfort of the home – this is especially true if you are widening rooms, hallways, adding rooms and increasing storage spaces. This is the time to update all those things that are out of fashion or dysfunctional. Remain where you are – updating your current home can be a great way to modernise it and give you extra years enjoying your time living there, creating a family home that can be enjoyed for years to come. Lower energy costs – if you are renovating your kitchen, this can be achieved by upgrading to more efficient appliances. If you're considering renovating your home, check out our range of home loans that can be used for renovation costs. Or, if you already have a home loan with us, ask the lending specialist at your local branch about your options. Cons To Renovating your current home Time – a renovation project is often thought of as a job in itself. Will you have the time to manage the renovations or get a builder to see the job through completion? How many months will the build take, and will it suit your household to be living in discomfort for a while? On a separate note but not unrelated to time, you will need to do your research on what council permits and approvals will be required. Check your local council website as a starting point. You will most likely require a planning and building permit as a minimum. Budget – how much can you realistically afford to spend, and will you be able to include all the changes you want, or will you have to sacrifice something? These are all helpful questions that will assist you in deciding whether to go ahead or not. Check out our article on budget renovations for more tips.   Selling your property Allowing a real estate agent to do all the work for you in selling your property is an attractive choice. As the client of a real estate agent, they will set out to get you the best price available for your property. Additionally, selling your home is a great choice if you have built up considerable equity, or if there isn't enough room for renovations to substantially improve your living situation. Before you decide whether to sell your property, it's worth calculating what it could sell for. Checking home sales websites is a good place to start to see what similar properties have sold for in your area. Also, you can ask a real estate agent for a market evaluation too. After working out what your property is worth, you can then consider costs of selling including: marketing expenses stamp duty for the purchase of your next home real estate agent commission moving costs solicitor and legal fees finance At Horizon bank, we are here to help you with your home loan needs. Whether that's to renovate or buy a new home. Get in touch with our friendly team today and let's chat about your plans. We have branches conveniently located across the Illawarra, so you can speak to a local person. 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.

What is a customer-owned bank? Customer-owned banks or mutual banks, provide consumer banking services such as credit cards, home loans, personal loans, savings accounts, and term deposits like any other bank. The key difference is in the ownership structure. The bank is owned by its members rather than shareholders. Certain issues or changes may require a member vote according to the constitution of the customer-owned bank. Profits are reinvested back into the products and services rather than being distributed through shareholder dividends. The customer-owned banking sector collectively serves more than 4.5 million Australians and brings with it the strength of $139 billion in assets. What is the customer-owned banking difference? Customer-owned banks serve a smaller customer base than the Big 4 banks. This means that you have access to personalised service from the staff and an overall enjoyable customer experience. Customer-owned banks are in a mutually supportive relationship with their customers and have a commitment to supporting the local community. The key difference is that profits are reinvested back into the banking products and services offered to members. This relates back to the ownership structure which is important, as products and services are enhanced rather than profits getting distributed to shareholders as dividends. When researching loan or deposit rates, you’ll find that rates on all financial products with customer-owned banks are competitive. The customer-owned sector provides competitive banking solutions with outstanding customer service, a can-do attitude that is committed to local communities, low and fair fees and competitive mortgage rates. What kinds of services are offered at customer-owned banks? Customer-owned banks generally offer the same products and services as traditional banks. These include home loans, personal loans, credit cards, business banking, term deposit and savings accounts. Easy access options such as online banking, visa cards, app banking and contactless mobile payments are also available. Add on services like insurance and CTP Green Slip are available for members at Horizon Bank. Simple investment options such as self-managed super fund accounts and term deposits are available subject to eligibility. How do customer-owned banks help the community? The customer-owned sector invests in community projects, organisations and events. More than 60% of customer-owned banking institutions believe community involvement is a key differentiator to their business. At Horizon Bank, we have sponsored many community events, some for a number of consecutive years in a row. Examples include: 15 years for the Thirroul Seaside & Arts Festival  9 years for the Merimbula Classic  8 years for the Bega Show We have philanthropic affiliations with many charitable organisations that we support throughout the year. During winter many of our branches collect food, clothes and warm blankets for their local Homeless hub or refuge. At Christmas time, all of our branches engage with their local communities to collect non-perishable food, toys and gift vouchers for various churches and charitable organisations. The organisations we have supported include: Albion Park Youth & Community Care Inc. Bega Women’s Resource Centre Narooma St Vincent De Paul Moruya Anglicare Supported Accommodation & Homelessness Services Shoalhaven Illawarra (SAHSSI) Thirroul Need a Feed Wollongong Homeless Hub Tips for choosing a customer-owned banking institution When choosing a customer-owned bank, here are some tips on what to look for: Fair and ethical banking – customer-owned banks care about where they invest. For example, at Horizon Bank, we act as responsible and influential environmental citizen, as such, we do not directly invest in, or provide loans to, any company in the fossil fuel industry. Customer-focused – the customers own the bank, so they’re put first. Customer centricity is at the core of all business operations. Opening an account should be easily done online, over the phone or in person. Responsible lending – customer-owned banks make sure that the customers they lend to, can afford repayments without being adversely impacted. Community support – customer-owned banks have a strong track record of supporting the communities their customers live in, whether that be through sponsorship or in-kind support. Accessibility through branches - branches and people are key to the customer-owned difference. At Horizon Bank, we continue to maintain all of our branches. We place faith in our members and that segment of the community who value local, personal banking. We understand that people may prefer a brick-and-mortar bank if they like being able to walk into a building and speak to a person or lender face-to-face and o talk to people they trust. Talk to a local - Horizon believes in providing easy phone access for members to contact their local branch, without the need for an overseas call centre.  Get in touch with the friendly local team at Horizon Bank today. We're here to help you with your banking needs. 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 and 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.

Having a baby? We’ve developed this handy guide to help you plan your finances before your baby arrives. Your life is about to change forever! With a baby on the way, there's a lot to prepare for, so it doesn't help to worry about your finances too. With some careful pre-planning and budgeting, the cost of the ever-increasing number of 'necessary' baby items can become more achievable. Cost of having a baby A good start is to get a clear idea of what new expenses you’re going to be taking on by estimating the costs of the following: Medical (giving birth and ongoing appointments) Nursery setup (cot, changing table, baby chairs) Car seat Stroller/pram Nappies Food and formula Childcare Clothes New parents will have to fork out for many baby expenses in their baby's first year of life. It's easy to see how the costs add up when you consider how many initial, upfront costs there are, not to mention the ongoing costs of formula and nappies. How to budget for having a baby Take the time to ensure you figure out what your financial situation is now and what it will be after your baby is born by following the points below. 1. Check your entitlements Understanding the changes to your income and how that will impact spending is vital before your new bundle of joy arrives. Don't forget to check your eligibility for government-assisted benefits such as paid maternity leave  (available through Centrelink or directly through your employer), and the Family Allowance payment (available through Centrelink). You may also be eligible for other benefits from the government like Child Care Benefit, Parenting Payment, Rent Assistance or a Health Care Card. Call Services Australia on 136 150 to find out if any of these can apply to you. 2. Start a savings plan You may not have the same income after the baby is born if your partner or yourself are not returning to work for a while. Based on your current budget, determine how much you can save a month to help you afford the costs we listed above. Once you know how much this amount is, you can use our Savings Calculator to figure out how long it will take you to reach an end goal. Over time the costs of caring for your child will change. By starting a savings plan early, your family will be more prepared for bigger expenses like education and a family home. Save money by putting small amounts away now into a savings account can make a big difference in future. 3. Reduce debts Paying down debt or making extra repayments before one parent takes time off to care for the baby can help with your savings plan. If possible, avoid going on parental leave with high credit card debt. Paying down debts or paying off your credit cards is a good idea before you start putting money into a saving account. You can make significant savings by switching to a card with a lower interest rate, but make sure you read the fine print first. Be wary of the low introductory rate that jumps up when the introductory period ends, and find out if there is a high cost for balance transfers and annual fees. After your baby arrives You'll likely already have everything you need to care for your baby. After you're home and settled in, taking a look at your family health insurance policy is timely as it may need updating with paediatrics cover. Don’t Forget Ongoing Baby Expenses Once your baby arrives, the regular expenses to care for your little one kick in. Factor the following costs into your budget: Child Care: If both parents return to work after the baby's arrival, the single biggest budget item will be child care. Child care costs vary by depending on where you live, the age of your child, how many days of care are required, and what type of care you use. Clothing: Babies grow quickly. You’ll find many outfits may not fit for very long, and that you’ll constantly need to purchase bigger clothing. Nappies: According to CHOICE Magazine, a typical baby goes through about 6000 disposable nappies with the total cost (of just the nappies, excluding wipes & other accessories) varying between about $1,800 and $3,000+ each child. Baby Food: Tins of formula can range from $20-$40. If using formula, you may need to try a few different brands to find one that's right for your baby. With these tips in mind, ensure you have a budget in place to support your growing family. Get in touch with the friendly local team at Horizon Bank today. We're here to help you with your banking needs. Horizon Bank has a branch network spanning the Illawarra and South Coast with offices at: Thirroul, Wollongong, Albion Park, Berry, Nowra, Ulladulla, Moruya, Bega, Bermagui and Merimbula. 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.

As the New Year kicks in, it’s a good time to assess where you are and where you want to go with your finances. You are able to plan for, and make a list of financial goals at any time of the year - however having an outlook for the year ahead can be a great place to start, especially after the challenges many of us faced due to the effects of COVID in 2020. Read on to find out about our top tips for setting financial goals for 2021. Setting a Budget You Can Stick To  Take a look at your previous year’s spending and costs and see where you might be able to make some adjustments. The key is to set realistic goals on where you can save money; that are also achievable so you don’t get stuck in a “too hard” mentality. Once you create a budget, it needs to be easily accessible so that it’s not forgotten and can be regularly checked and updated.  Paying Off Debts If you have debts like credit cards or loans ensure you are getting a competitive rate on these. Paying off just that bit extra creates a buffer you can fall on, if you experience a tougher month in future. The faster you can reduce debt, the greater chance you have of using that money elsewhere to improve your financial standing. A great budgeting tool to use is our budget planner calculator. Look at where you can cut back on your expenses and redirect that money into paying off a debt. Have A Savings Plan When looking at your budget, allow for a regular amount to hit your savings account each pay day. You can ask Horizon to setup a payroll split so you don’t have to think about manually transferring money to your savings. Making adjustments such as buying fewer coffees or meals out all adds up at the end of the month. Start small on cutting back and work your way up to adding more to your savings as you go. Arm yourself with knowledge A lack of proper financial education or financial literacy may result in poor financial decisions which can negatively affect your financial position in the future. ASIC’s Money Smart website is a great resource for information on financial products. If superannuation and estate planning is on your to-do list for 2021, you can always speak with a financial planner about strategies that are right for you. Investments Well researched investments could set you and your family up for a prosperous financial future. Investing in property is a popular trend in Australia with about 1.8 million households owning an investment property or holiday home^. If property is not for you, there are a range of financial products available providing different levels of risk and return. Speaking to a financial planner and/or accountant about what is feasible for you is a great first step. Get in touch with the friendly team at Horizon Bank today and let us help you on your financial goals 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. ^Source: Survey of Income and Housing 2017/18, Australian Bureau of StatisticsThe 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.

It’s December, the month of celebrations - and spending! This can be a tricky time for many families doing Christmas on a budget, especially when trying to manage the normal day to day bills and expenses. In this blog we’ll look at how you can you still enjoy Christmas without the big spend. Here are our tips to make it enjoyable without going overboard. Sell the things you no longer need Make some room and clear out space in time for the festive season by holding a garage sale or listing your unwanted items online. This is a great way to kick off your savings plan, as you may be surprised at what you could earn for your pre-loved household items. Charities, churches and other organisations may also take old Christmas decorations off your hands for their own displays. Re-purposing is a great way to get rid of unwanted items and reduces your household waste. Think of others during this time by donating things you no longer need if they’re unable to be sold. Look for Sales & Deals Do your homework and shop around for your gifts before finding and buying the first thing you see. Online shopping can be a clever way to do this, with the many comparison sites that are now available providing consumers with the best deals. Shopping during sales periods are also a great way to save on your Christmas spending. Start a Christmas budget planner and estimate how much you want to allocate to gifts, food and decorations. Don’t buy on emotion Taking a rational approach to your Christmas shopping means you may have to sacrifice pricey brands you know and trust for a cheaper alternative if you are sticking to a budget. This is why a great savings tip is to make a list of who you’re buying for and what they are receiving from you, with an allocated limit. Don’t plan a shopping trip - online or offline, without this list  - you could end up overspending and buying things unnecessarily. Christmas Day Meals It’s easy to go overboard with food preparation for Christmas Day. Take advantage of future food items on sale in the lead up to Christmas. Try to plan your grocery shop as close to Christmas Day as possible to avoid fresh produce going to waste. If you are sharing this time with family and friends, ask others to contribute by bringing a plate of their special dish for everyone to enjoy. Have lots of containers handy to store leftovers so they can be enjoyed on Boxing Day instead of making or buying more food. Set up a Christmas Account Planning for Christmas expenses ahead of time is a great way to manage your Christmas budget. This makes it easy to put aside savings throughout the year and then use this money for the festive season. We can assist you with setting up a new Christmas Club account at Horizon Bank.  Get in touch with the friendly team at Horizon Bank today and let us help you on your Christmas 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.

5 tips to prepare for bushfire season With bushfires on the rise, follow these simple tips to help you plan ahead to protect your family and home from devastation. With the weather getting hotter and drier, the fire danger period in many parts of Australia can become susceptible to bushfires that can be difficult to manage. While it’s important to plan for these catastrophic events all year round, we’ve summarised the top 5 tips to prepare for this bushfire season from the experts at the NSW RFS. Most importantly, in the event of a bushfire, don’t risk your life. Leaving the night before or on the morning of a high-risk fire day should be your highest priority.  Prepare months before Well before fire season, visit your state fire authority’s website (details below) or call them to get all the information you need to be bushfire ready. Familiarise yourself with the website and any of their social media channels. Several states also have a mobile phone app that you can download. Also know where to find your emergency broadcaster, such as the local ABC radio channel. Stay informed Once fire season begins, make a habit of checking your local fire danger ratings. Know what your local weather district is so you can access the most relevant and up-to-date forecasts, alerts and warnings. Armed with the latest information, you’ll be better placed to make a good, early decision. Remember: you don’t need to wait for a warning. Bushfires can start quickly and may threaten property and lives within moments.      Know your strategy Before bushfire season starts, make a decision about which fire danger rating will be your trigger to leave. Will you leave the night before or in the morning? Have a number of routes planned so that you have options in case there's already a fire in the area. Make sure the entire family has discussed plans for leaving, including what to take, what to do with pets or livestock and what will happen if you can’t leave. Have an emergency kit ready to go that includes important documents, medications, protective clothing, a woollen blanket, a battery-powered radio and torch, along with spare batteries. Protect your home Making sure your house is ready for a fire can increase the likelihood that it will survive. First, make sure you have current and adequate Home and Contents Insurance. Remove leaves and branches from your gutters and clear flammable items from around the house. Take special care to remove potential fuel sources such as woodpiles, outdoor furniture, paint, combustible chemicals, boxes and doormats. If you have LPG gas bottles, turn the valves to point away from the house. Prepare the backyard Prune any overhanging branches within 10 metres of the house and keep the lawn mown to less than 10 centimetres. Replace flammable mulch in the garden with rocks or pebbles. Cut back any shrubs near or under windows and tidy the garden of any dry grass, leaves, twigs and loose bark. For more help and information, check with your local fire service. The content in this article has been prepared by Insurance Australia Limited 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. Insurance issued by Insurance Australia Limited ABN 11 000 016 722 trading as CGU Insurance. Any advice is general only. Consider the relevant PDS available from cgu.com.au to see if a product is right for you.

If you become unemployed and have loans to repay, you may feel overwhelmed and struggle to know where to begin. While most of us may not have a comprehensive financial management plan, in this article we’ll share our tips for helping you plan during difficult financial times that have been caused by the COVID-19 pandemic. Review Spending Don’t let yourself fall into a financial crisis. Now is the time to be proactive and take actions to safeguard your future. For example if you’re looking at how to save money, it is a great time to re-think about how you and your family spend. With restrictions in place, you can be re-directing the money you were spending on meals out and other entertainment expenses and place that into a savings account. Any direct debits that are non-essential should also be reviewed. For example, multiple subscriptions to online video streaming is probably something you don’t need right now. The best way to save money is to take a good look in your pantry and cupboards then make a list of essentials you need. When visiting the supermarket, don’t panic buy, gather what you need in a calm manner to avoid over spending. Plan and prioritise for the future It is important to think of how a global situation may affect you in the short and long term. In the short term, as your bills come in, prioritise them to see what is most urgent and pay those first. Let your provider know up front if you are struggling or believe you will have difficulty paying for utilities in the coming months. Communication is key - banks, companies and organisations are aware of the current pandemic so it’s important to communicate with them and arrange payment plans or agreements to ensure your services continue during this already stressful time. Many organisations will already have measures in place you can possibly take advantage of during this time. We don’t know what will happen in weeks or months down the track, so be proactive with your savings plan which should include important insurances and safeguards such as superannuation, life insurance and income protection. Talk with your partner about what day to day life will look like if one of you were to become unemployed. Talk to your bank Many banks and financial institutions will be experiencing large volumes of calls coming through from customers experiencing financial hardship. If you need help, try and remain patient and be assured your case will be looked at. A key savings tip is to ask as many questions as you need, to understand how home loan repayment deferrals will work. Ask about how you can stay on top of your credit commitments without compromising your financial position. Access assistance and stay up to date The Government has released different assistance updates including the Coronavirus Supplement. Financial assistance is just one of a range of measures the Government is implementing to address the global health crisis. Be sure to stay on top of these changes and understand how they may help you during this time. Reading information from reliable sources from which you can base your decisions and actions off is very important. Examples include official government sites and other reputable sources. Check these first before reading content on social media. The following sites are the best available sources of information for health and government updates: Australian Government Department of Health Coronavirus Official Australian Government Information  Australian Government Department of Home Affairs Advice for travelers  Look after your mental health When you are feeling overwhelmed and stressed, it’s important to recognise this and have strategies in place to overcome these feelings. Staying connected with family, friends and work colleagues is important during this time. If you can’t access your regular doctor, reach out to online reputable resources for help and assistance. If you’re working from home, keep up regular physical activity and maintain a healthy diet. Get up and walk around every so often just as you would at work. Horizon Bank is here if you need help. Visit our web page for any updates and our response to the Coronavirus outbreak. Get in touch with us if you are experiencing financial hardship, or if you need saving tips. We are here to support our members & communities as best we can. 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.