If life is a battle, then Financial Planning is your armour

I have always managed my family’s finances as well as being heavily involved in the finances for our family business for 6 years. I can’t say I have formal qualifications in the field (I trained as a teacher and ended up in advertising) but when you run your own business and your family depends on it, you savvy up and make sure you learn fast.

As soon as I started at Incite, I quickly realised how little I knew about the possibilities and opportunities available to everyday people to not just live a comfortable life, but extend their savings and investments without too much stress. Most people make the mistake of assuming that their accountant will help them with all this stuff (me included) but realistically when you’re paying for a $250 tax return, there is no real advice or proactivity. You’re paying for a simple transaction with minimal care for the future.

At the moment, I’m learning new things about money each and every day! So I have started writing a series of short blog posts to document the nuggets of wisdom I come across as I learn the ropes of financial planning. I believe my thoughts are worth noting as I think my level of knowledge is comparable to most Australians, and I have my own scepticisms around certain aspects of the finance industry, born through stories from my parents and friends which have shaped certain biases (more on this in future weeks).

The type of information I have learnt in the past 6 months and continue to learn each day will stand me in good stead for life, hence I refer to it as ‘Armour’. I now wish I had gone to see a financial planner years ago. When it comes to money, I have made all the mistakes in the book. Most of these were decisions of the heart and made with very little understanding of the possibilities. I wish I could turn back the clock and redo a few! Luckily time is still on my side. So this year and next I will be embarking on the same journey as our clients and I hope you follow along with me!

Here are a few things I would like to do over the coming months and years:

Short term:

  • Understand Super and work out if I’m in an effective Super fund.
  • Get a Will and POA sorted (if you don’t know what a POA is, don’t feel stupid; I didn’t until a couple of weeks ago!).
  • Set a Budget and save more money (and is it possible to make this easy and painless?)
  • Get some proper insurance cover

Long term:

  • Buy my first investment property

If there’s anything that confuses you in the world of Finances, let me know! I’m sure I need to understand it too and as I learn it, I’ll do my best to simplify it for you through this blog.

When it comes to money, I don’t know what I don’t do. Wish me luck as I jump down this rabbit hole!

See you soon,


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