When we ask new clients about what their financial goals are, many times I’ll get a vague answer that involves paying off debt or owning their home freehold. Rarely can anyone paint us a detailed picture of what their ultimate financial future looks like.

Being able to visualise your goals is the first step to realising them. If you don’t have a clear idea of where you want to ‘end up’ financially, we encourage you to spend time getting clear on your definition of success.

Consider that, because wealth means different things to different people, your partner might have different goals to you. It’s important to understand and respect one another’s goals, and to do your best to achieve what’s important to both parties.

For most of us, income from employment is the main building block for establishing and building wealth. So it makes sense to try and squeeze every last dollar out of our employers. While negotiating a pay rise is an obvious way to increase your income, here are other strategies to consider as well.

Get the most out of your workplace benefits: Find out what benefits your employer provides that could help you save a few extra dollars each month.

Some large employers have negotiated group discounts on all sorts of other things too, from gym memberships to travel benefits.

Keep up to date: Take every relevant training opportunity that comes up within your organisation. Being highly trained will make you a more valuable employee, which is a great position to be in when your annual salary review comes around. By showing an interest in developing your skills, you’re also more likely to be considered for promotion.

If you concentrate on maximising your income, it follows that you should also ensure you’re getting the best possible value for money for every dollar you spend.

Having a household budget will help you keep track of how much you’re spending each month and give you a good indication of whether you’re living within your means. It doesn’t need to be complicated – We can provide you with simple tools to help you with your money.

Keeping a closer eye on your outgoings will also help you focus on getting maximum value for money when you spend.

This money that you can save can add up over time and be used on:

• topping up your super
• investment outside super

Contact our team at Vove Financial to learn more about how we can assist you.

You might have been put off saving in the past because of a tight budget – a common example is young families that have a relatively new mortgage and a single income.

Successful saving is as much about habit as it is about dollars. If you can only afford to save $10 a week, that’s fine – get your savings effort started anyway.

Regularly review your household spending to see whether you are wasting money on low value items – good examples are Lotto tickets and bought lunches. If you are spending on these things, try allocating that amount to your savings account instead.

Once every six months, review your weekly savings amount and think about whether you could increase it just a little over the next six months.