Budgeting and Wealth

Self-control is one of the secrets to increasing your wants and it’s not something we are generally born with, it’s learned behaviour.

Having a budget is important as it will keep you on track and focus you on reaching your goals, particularly if you’re saving for something. Really ask yourself ‘is this a want or a need?’.

Set yourself achievable goals and ditch anything such as memberships or subscriptions which you don’t really use. It all adds up!

There is a basic formula for building wealth:

  • Make more money than you spend
  • Manage Debt carefully
  • Invest your savings wisely.
  • Understand your Super and how it is invested
  • Be patient and always understand the risks

Whilst this may sound simple, the reality can be very different. Just like your individual circumstances vary, so too do the strategies available to help you create wealth.

At Empower Financial, we work hard to find the best pathway to achieving your goals. No matter how big or how small they are, or what stage in your life you are at, we can help.