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It’s that time of the year again when most people embrace a fresh start. New look, new routines, new goals. But if you’re someone who likes making New Year’s resolutions, you know how hard it is to stick to them long-term. Did you know that by simply checking in and reviewing your finances, debts and insurances you could put yourself on the path to financial security?

If that sounds like too much hard work, don’t fret! With an experienced mortgage broker on your side, you won’t have to chase all of this up by yourself, as they can take care of some of the research and admin for you.

Spending just a few hours engaging in your own finances, could save thousands, even tens of thousands, each year. If you want 2022 to be a better year for your money, consider these 7 ways to get on top of your money so you can make it work hard for you.

1. Consolidate Your Debt

If you have credit cards, personal loans or car finance, you could save by consolidating this into your mortgage.

Some credit cards and unsecured loan products attract interest rates upwards of 20 per cent. Why pay these exorbitant rates when you could combine it all onto your home loan and pay just 2 per cent or even less?

Don’t forget that by adding this debt to your mortgage, you are extending the time period over which you will be paying it off and dragging this out will see the interest mount up. To really make the most of this strategy, aim to make extra payments wherever you can to get the amount you have consolidated paid down ASAP. Even small contributions, like paying an extra $100 per fortnight, selling some clutter from around the house and putting the proceeds towards your mortgage or saving all your $5 notes and depositing them into your loan each month will make a big difference over the life of the loan.

2. Review Home, Contents and Car Insurance

If you have not reviewed your insurances in a while, it is likely you are paying too much. We have a dedicated insurance broker who has a wealth of experience in securing great value policies for our clients, with affordable premiums and excellent inclusions. They will do the hard work and research to make sure you have the coverage you need and present you with quotes that work within your budget.

3. Buy a New Car

With access to more than 30 fantastic car finance options, we can get you into a new vehicle with a loan that suits your budget. Whether it is downsizing the 4WD to save on petrol costs, trading up from the old bomb that is costing you more in repairs than it is worth or using your new car purchase as a tax minimisation strategy, we can help.

4. Analyse Business Accounts and Business Bebt

Running your own business is stressful enough, without the added worry of managing all your financials and shopping around for the right bank. Let us find you the best commercial banker for your business, so you can spend time more productively serving clients, upskilling or training that new staff member.

5. Suss Out Your Superannuation

Australians are absolutely terrible at keeping track of their superannuation – the ATO reports that, as of June 2019, there was more than $20 billion in lost and unclaimed super languishing in forgotten accounts around the country!

Tracking down your lost super and consolidating it into a high-performing fund will help you minimise fees and maximise your retirement savings. While you are at it, be sure to check how much life, total and permanent disability and income protection insurance you have within your super. This way you can be assured to have enough cover if anything unfortunate occurs and that you are not doubling up on premiums or fees across several super accounts.

6. Buy that Investment Property

With the current record-low interest rates and strong competition for rental properties in our major cities, it is a great time to think about fulfilling that dream of becoming an investment property owner. It is not just an option for the rich with strong cash flow to bankroll them; the majority of Australian landlords are everyday income earners who are trying to get ahead. You may even be able to use the equity in your current home or an existing investment property to start building your portfolio today.

7. Make Much-needed Improvements to Your Home

If you are sick of staring at those out-of-fashion kitchen tiles or the kids are complaining about sharing a bedroom or bathroom, it could be time to renovate. Even a small extension or minor renovations could completely transform how you function in your home as a family, resulting in fewer arguments, better organisation and that zen-like calm we all crave when we escape back to our sanctuary at the end hard day at work or school.

Importantly, it could also add value to your asset, and you might not even need to save a cent to fund your project if we can help you access the equity in your home to cover the costs.

8. Keep Track of Your Finances using a Budget Planner

It’s easy to overspend if you’re not careful and mindful of where you’re spending your money. Keeping a budget planner handy will help you know exactly where your money is going and how much is coming in. With every credit card company offering a “buy now, pay later” scheme, it’s easy to get carried away and eventually get into so much debt. A budget planner will reveal areas where you’re spending too much and where you can cut down so you can improve your financial situation by controlling your finances instead of it controlling you. ­Here’s a budget planner template you can use so you can get started. 

Download your free Budget Planner Here.

Getting on top of your finances is not that hard after all! After a quick conversation with one of our brokers, you will be on your way to your most prosperous year yet, so contact us today.

Phone: 1300 855 022
Email: clientservices@zippyfinancial.com.au     


Zippy Financial is an award-winning mortgage brokerage specialising in home loans, property investment, commercial lending, and vehicle & asset finance. Whether you are looking to buy your first home, refinance or build your property investment portfolio, the team at Zippy Financial can help find and secure the right loan for you and your business.      

About the Author:       

Louisa Sanghera is an award-winning mortgage broker and Director at Zippy Financial. Louisa founded Zippy Financial with the goal of helping clients grow their wealth through smart property and business financing. Louisa utilises her expert financial knowledge, vision for exceptional customer service and passion for property to help her clients achieve their lifestyle and financial goals. Louisa is an experienced speaker, financial commentator, mortgage broker industry representative and small business advocate.       

Connect with Louisa on Linkedin.      

Louisa Sanghera is a Credit Representative (437236) of Mortgage Specialists Pty Ltd (Australian Credit Licence No. 387025).    

Disclaimer:This article contains information that is general in nature. It does not consider the objectives, financial situation or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. This article is not to be used in place of professional advice, whether business, health or financial.      

COVID-19 has impacted us all in one way or another and for many businesses, the stop-start-stop nature of the pandemic has crippled cash flow and made planning ahead more difficult to manage. Managing cash flow is one of the biggest issues business owners face and in the current economic climate, cash flow management is more critical than ever.

Your business’s cash flow strategy this financial year is likely to depend on how the pandemic is impacting it. 

Here are our six cash flow management strategies for businesses that are growing and for businesses that are struggling during COVID-19. 

1 – Find a Flexible Source of Funding

Strong cash flow is important for fast-growth businesses, which often have lots of cash tied up with debtors. 

It is important to find a source of funding that grows as your business grows. With invoice finance, as your debtors grow, so does the line of credit you can access. Another consequence of fast growth can be a demand on the business to put in place more capital assets, such as vehicles and equipment. In these situations, asset finance can help a business get the assets they need to support their rapid growth.

2 – Understand Your Business Costs

Understanding your business costs is vital for informed business decisions. It helps you determine the profitability of your operations and how to set prices. This includes both fixed and variable costs – the former generally stays the same (e.g. rent, utilities) while the latter changes depending on how well the business is doing (e.g. staff wages, stock). 

When looking at fixed expenses, it’s a matter of deciding which ones you can stop, delay or negotiate down for the time being, as some of those costs may no longer be applicable. For example, if you’re a physical business that has had to temporarily shut its doors, could you put things like cleaning or photocopier support on hold or reduce the frequency? 

3 – Negotiate with Suppliers

Sometimes businesses can grow too fast for their suppliers to keep up with their demand for products. If you don’t have the cash flow to pay your supplier for more products upfront, you can attempt to renegotiate terms with them or seek alternative finance options. 

One option for any fast-growth business is trade finance, which ensures that the payment of suppliers is upfront so that they can meet their increased demand for products.

4 – Cash Flow Forecast is Vital

It is not unusual for a small business to spend months winning big clients and then realise that they had not accounted for the cash flow implications of winning this new business. Putting a 13-week rolling cash flow forecast can help fast-growth businesses avoid cash flow issues.

Cash flow is often described as the “lifeblood” of businesses. Knowing what cash is likely to be coming in and what is likely to be going out, is vital for not only keeping the business alive, but to ensure it will thrive. Preparing a cash flow forecast will help you get a sense of your cash movements – you can then adjust where needed to meet your financial objectives.

5 – Get in Touch with Funders and the Tax Office

With several recent state lockdowns and ongoing uncertainty in NSW, many businesses are doing it tough. It is crucial for businesses that are struggling through adverse conditions to talk to their financiers as soon as possible.

Talk to your funder about whether it is possible to restructure or to put in place moratoriums. Small and medium businesses should not put off talking to the ATO either – getting on the front foot with tax obligations is vital.

Additionally, contact your accountant or bookkeeper and check out the Australian Government business.gov.au website to see if your business is eligible for any federal or state COVID-19 support.

6 – Look at Your Balance Sheet

To help secure working capital for your business, look to the assets on your balance sheet. Balance sheet assets can be a hidden resource for many businesses, your debtor’s ledger, unencumbered plant and equipment and even inventory can be used to bring working capital back into the business.

If you’d like to find out more about any of these cash flow strategies or explore finance options that could help your business, get in touch with Zippy Financial today. The sooner we can run through your options with you, the better placed your business can be for the remainder of 2021 and beyond. 

Phone: 1300 855 022             
Email: clientservices@zippyfinancial.com.au


Zippy Financial is an award-winning mortgage brokerage specialising in home loans, property investment, commercial lending, and vehicle & asset finance. Whether you are looking to buy your first home, refinance or build your property investment portfolio, the team at Zippy Financial can help find and secure the right loan for you and your business.

About the Author:

Louisa Sanghera is an Award-Winning mortgage broker and Director at Zippy Financial. With over 30 years of experience in banking, mortgage broking and property. Louisa founded Zippy Financial with the goal of helping clients grow their wealth through smart property and business financing. Louisa utilises her expert financial knowledge, vision for exceptional customer service and passion for property to help her clients achieve their lifestyle and financial goals.

Louisa is an experienced speaker, financial commentator, mortgage broker industry representative and small business advocate. Connect with Louisa on LinkedIn.

Louisa Sanghera is a Credit Representative (437236) of Mortgage Specialists Pty Ltd (Australian Credit Licence No. 387025).

Disclaimer: This article contains information that is general in nature. It does not take into account the objectives, financial situation or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. This article is not to be used in place of professional advice, whether business, health or financial.

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Comparison Rate calculated on a secured loan amount of $150,000 for a term of 25 years. WARNING: This Comparison Rate is true only for the example given and may not include all fees and charges. Different terms, fees and other loan amounts might result in a different Comparison Rate. Fees and Charges Apply. Terms and Conditions are available on request.