How can Inovayt help me simplify my finances?
Financial strategies don’t need to be complex to be effective. Whether it’s investing, budgeting or structuring your superannuation, the golden rule for managing your money is having a plan in place that is simple, efficient and effective.
We cover some common areas that require advice below.
Bank account structure
You may find you have too many bank accounts, each with different fees, features and interest rates that are becoming hard to manage, understand and transfer between.
On the opposite end of the scale, a common complaint we hear is that having a single bank account makes it hard to keep track of income, spending and savings.
Either way, a confusing bank account structure makes it hard to get a proper understanding of how you’re progressing.
Data suggests that the younger generations are changing between employers and occupations far more frequently than previous generations.
Regular changes in employment have led to an increase in clients having multiple super funds.
Rule number one for superannuation is consolidation – to avoid duplicating costs and conflicting investment strategies.
There are many things to consider when consolidating super, so it’s essential to seek the advice of a professional before doing so.
With so many different types of insurances and ways to structure your cover, it’s easy to find ourselves in a situation where you have a range of insurances with varying levels of cover and different methods of payment.
While it’s typical for the structure of your insurances to have variety, it’s important that you have an understanding of the logic and reasoning behind it.
We take our clients through an educational process so they can make more informed decisions and gain an understanding of the ‘why’ when it comes to protecting themselves and their families.