June 2018 Financial Checklist
Welcome back, everyone! It’s been a while since we last caught up. Since March, we celebrated Easter, fell for some April fools tricks and gave our mother’s a reason to smile - but we also hope you’ve been staying on top of your finances. But don’t worry if you’ve been too preoccupied with the Royal Wedding to worry about your bank balance because we’ve got 5 fresh, financial to-dos you can add to your checklist!
Go takeout-free for the month
If you didn’t know, Mozo have been keeping up with the lastest Channel 9 series, ‘Eat Well for Less’ and have been learning heaps about the grocery habits of Aussie households. Something we picked up was that the amount of money we spend on food away from home has doubled since the 80s. So this month, save yourself some extra cash by going takeout-free and only cook from home, including snacks! You could try meatless Mondays, recreating your favourite cafe brunch meals or even a chocolate mug cake like they did on the show!
Get tax deduction claims organised
Let’s face it, you probably just rolled your eyes at the thought of having to do your taxes, but consider this your personal reminder to start your list of eligible tax deductions, like work-related expenses. Some of the things you may be able claim include travel expenses (getting to and from work), drying cleaning expenses (cleaning your uniform) and even donations you’ve made to eligible charities within the last year.
Do a life insurance policy review
And as you dive into all things money to prepare for the EOFY, it might also be worth taking a look at your life insurance policy, particularly if you’ve got life insurance through your super. Thanks to a new law proposed in the 2018 Budget, super life insurance premiums are expected to increase by 30%. So if you’re expecting to be hit by this increase, it might be time you weigh up the pros and cons of having a stand-alone life insurance policy instead..
‘Beat plastic pollution’ for World Environment Day
World Environment Day is held on June 5 and is all about encouraging awareness towards protecting the environment. This year’s theme is ‘beat plastic pollution’ and even though the event is being hosted in India, Aussies can still do their bit by looking into plastic alternatives they can use in their daily life. Which is actually perfect timing, as recent Mozo research has found that Aussies can save over $1,000 a year just by switching to reusable alternatives, like cloth tote bags and beeswax sandwich wraps.
Look into car loan deals
As stores gears up for their EOFY sales, it seems that some providers are also getting into the spirit with new and improved car loan offers. For example, Westpac are offering a $200 fuel voucher with their car loan, while Illawarra Credit Union have a new market leading personal loan rate of 5.25%. Be quick though, as these offers won’t be around forever!
But no matter what your goals are this new financial year, our Life and Money hub is filled with tips and tricks to help you get your finances sorted so go and check it out.