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Resurrecting your resolutions

12 March 2019

Resurrecting your resolutions

March is that time of year when a lot of New Year’s resolutions fade into a distant memory. Many of us have stopped using that new gym membership and started eating unhealthy foods again, while savings for that overseas holiday have slowed to a trickle. Instead of moving into a new house or starting a more exciting job, we’re still in the same places. So how can you get your New Year’s resolutions back on track?

Getting physical again

Aussies love the idea of being healthy, particularly after the indulgences of Christmas. In fact, 45 per cent of Australians listed getting healthier as a New Year’s resolution according to a recent Finder survey.1 It’s no wonder gym memberships skyrocket in January. Unfortunately, bad habits kick in and almost a third of those who take out a gym membership use it less than once a week.2 To kick start your health goals we have a whole range of handy tips

Regaining financial fitness

Apart from not getting physically healthier, many Australians find their financial fitness is also worse off at this time of year. Overspending at Christmas can create a financial burden that takes many households months to pay off. What’s more concerning is that a recent GSB survey found that 27 per cent of Australians admitted financial stress was impacting their health.3 Talking to a personal banker about debt consolidation solutions can often help remove the stress. The good news is that over half of Australians want to take positive steps to solving finance issues with debt-specific New Year’s resolutions3. If you’re one of them, it’s important to maintain focus on your financial goals like saving, paying off debt and reducing your spending. Of course, if you’ve lost your way a little, write out your goals and draw up a budget to achieve them this year.

Start saving again

If you had dreams at the start of the year of saving for a new car, house deposit or an overseas trip and those plans have stalled, it’s not too late. You can start by creating a savings plan and set up regular automatic transfers into a linked savings account earning higher interest. Use a savings calculator to work out how much you need to set aside to reach your goal. With a few simple sacrifices and a little discipline, your dreams can still become a reality. Another handy way to save is using a savings top-up feature, whereby you set an amount to be debited from your transaction account and deposited into a savings account every time you spend. You’re literally saving while you’re spending.

Lost your way house hunting?

Wanting a fresh start in a new home can make a world of difference to your household dynamics and finances, particularly if you’ve outgrown your current place or are stuck with an expensive loan. If you’ve lost interest in house hunting because it all seems too hard, talking to someone about your borrowing power could help you move into a new home sooner. Of course, chatting about banking when it suits you can be an obstacle with some banks. However, we have a service that allows you to message a personal banker when it’s convenient for you, making it easier to get answers. Once you have a good idea of what you can borrow and the most suitable loan, you can confidently recommence your search.

Resurrecting your New Year’s resolutions isn’t hard. With a little focus and some advice, you can rediscover your motivation and take positive steps towards achieving your health, financial and life goals.

1. https://www.finder.com.au/press-release-dec-2018-new-years-resolutions-2019-aussies-want-to-beat-the-bulge

2. https://www.news.com.au/finance/money/costs/lazy-aussies-wasting-18-billion-on-unused-gym-memberships/news-story/6243cf35a8424a8dfa212ea17c1a0208

3. Post Christmas Financial Hangover Quantitative Research Report by CUA, January 2019.

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