Four financial priorities for 2022

Even if you are single and have no dependents, keep in mind the downside that insurance companies need to stay sick to pay, but income protection insurance is important.

Trauma insurance is slightly different in that it pays a lump sum for the diagnosis of the condition described.

base About personal experience, I also have health insurance there. If not for yourself, have these safety devices for your family.

Repay the debt

The debt is doing nothing but dragging you back. Every day you have it, it can cost you more. Most economic forecasts are that loan rates will begin to rise by the end of this year.

The most favorable way to attack debt is in descending order of interest rates. In other words, the highest interest rate debt is followed by the lowest interest rate.

This usually means a credit card first. The best way to get rid of this debt is to transfer your current card debt to a zero percent balance transfer credit card. Such cards are different from existing institutions and can be obtained with an interest-free period of up to 36 months. Use that time as a window of opportunity to repay all card debt.

Then there is the personal loan, then the mortgage. It is usually the cheapest of all interest rates.

With your mortgage, the smartest strategy is to refinance to a better interest rate transaction and simply keep your repayments the same.

Saving interest and saving time on debt-for spending more money than you have already done-is tremendous.


The ultimate priority for 2022 is to increase overall wealth.

You can earn income for 40 years, for example, but it’s important to realize that you may need to extend this amount by more than 60 years.

Thankfully, we have an excellent old-age pension system that is ticking for us in the background to help make healthy retired eggs.

Due to the stock market rampage 2021 returns (ASX / S & P 200) and other asset growth, the median of balanced superfunds is estimated to have been added 12.5% ​​to last year’s balance by fund rating agency Super Ratings. I am.

Including donations from your employer, you can donate up to $ 27,500 to the supermarket this year before tax (for example, through salary sacrifice).


Unused allowances may be available after 2019-20. This is especially worth it if you withdraw the $ 20,000 that was available under the financial difficulties caused by the coronavirus.

By moving yourself and your family to a safe financial position, and saving and investing, you can quickly return to a pre-pandemic state … and see you move forward quickly. increase.

Nicole Pedersen-McKinnon is the author of How to get a mortgage for free like me..Follow Nicole Facebook, twitter also Instagram..

Four financial priorities for 2022

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