Four financial priorities for 2022


Build an emergency fund

If there is one thing we have learned through the pandemic is that in life, anything can happen.An emergency cash stash helps put you out of financial harm’s way. Ideally, it should be equal to six months’ salary, to give you half a year to recover if the income on which you live dries up through job loss, accident or illness. That’s a lot of money to accumulate, so just focus on building your cash buffer slowly over time.If you have a home loan, park your emergency cash pile in a mortgage offset account, so that it saves you significant loan interest too. 

Protect your family

No-one likes thinking about the prospect that they will get hurt or, perish the thought, die. However, right now, ongoing income and lump sum life insurance is everything.At a basic level, you need life insurance if you have dependents, sufficient to cover your debts and perhaps raise any children to adulthood. This is often sold with total and permanent disability insurance, which pays out a lump sum if you become disabled

 Pay down debt

Debt is doing nothing but dragging you back. Every day you hold it, there is every chance that it could end up costing you more. Most economic forecasts are for loan interest rates to start to rise before the end of this year. The most advantageous way to attack your debt is in descending interest-rate order – so from the debt at the highest interest rate to the lowest interest rate.

Get investing

Your final priority for 2022 should be to grow your overall wealth. While you may earn income for, say, 40 years, it is important to realise that you might need to make this amount of money stretch more than 60 years. Thankfully, we have an excellent superannuation system ticking away for us in the background to help built a healthy retirement nest egg.

Extra repayment in home loans
Extra repayment refers to making additional payments towards a loan or mortgage in addition to
Regional First Home Buyer Guarantee: A Guide
What is the Regional First Home Buyer Guarantee scheme? The Regional First Home Buyer Guarantee
RBA Lifts Cash Rate by 0.25% to 4.35% , Marking a 12 – Year High
The RBA board on Tuesday 7th November 2023 decided to hike its cash rate 25 basis points to 4.35%, a 12–year high
Vacant land Loans in Australia
Explore your options for vacant land loans in Australia Secure financing for your dream of
Mortgages in Australia for non residents
In Australia, non-residents, including foreign individuals and overseas investors, have the option to apply for
Types of Mortgage brokers in Sydney
A mortgage broker refers to a professional who assists individuals and businesses in finding and
How much money do I need to buy a house in Australia?
Deposit: A standard guideline is to have a deposit of at least 20% of the
Home Buyers Guide in Australia
Should I buy a house now or wait until 2024 Australia Deciding whether to buy
Property investment guide in Australia
Property Investment Guide in Australia is a comprehensive resource designed to provide valuable information and