Page 103 - Smart Money

CHAPTER 5

Putting it all together

The main thing you need to do is talk to a professional first up; get all
your information from a professional person and do not talk to your
family and friends about your finances.

You want to make your mortgage work for you, so making sure that you
are in a product that’s suitable for you at the time is very important, as is
revisiting it. Talk to a financial planner about getting the right investments
in place so that, moving forward, you are going to secure your financial
future.

If you are a first home buyer, familiarise yourself with what happens
during the mortgage process and also after the mortgage process. It is
helpful to keep a schedule so that you know what happens and when.

We have discussed the mistakes to avoid, and what you should and
shouldn’t do throughout life around managing your finances. We looked
at the pros and cons of credit scoring and the things that the banks look for
that might help you get a better score and a better chance of getting your
loan approved. Then we went through getting into an investment, what
is possible and what is out there for you, making sure you are covered by
insurance, and we also discussed your superannuation and how to make
sure that all your investments are going to set you up for the future.

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