‘New year, new me’.

We’ve all heard it. Sometimes even from our own lips. At the stroke of midnight, proclamations of living better lives are made to the universe, usually revolving around eating healthier, giving more to charity, and loving our peers. The beginning of a new annual cycle shines a light onto our habits. The question is: why isn’t the same treatment afforded to the New Financial Year? Well, crack open the champagne, because Swoosh is here with some resolutions for a better financial you.

Resolution #1: Healthy Credit Rating

Forget that pricey gym membership (for now) and focus on being financially fit with a healthier credit rating. It’s simple! Just like how you would do away with take-away dinners to improve your waistline, ditch those unhealthy financial habits, like dabbling in vicious forms of credit and late payments, to be a firm choice in the eyes of future lenders. With this new financial year, tighten up your resolve and find ways to sharpen expenditures. Formulate a sound budget that can permit you to chop up those gluttonous credit cards costing you exorbitant compounded interest rates. Be active, and sign up to have online reminders of when bills are due – and pay them, ASAP! And when you do find yourself short on cash, consider friendlier options of credit, with manageable fixed-term repayments to help with that budget, such as personal loans.

Resolution #2: Be Industrious

We all know the fable of the lazy mouse and the industrious mouse. Lazy mouse has a jolly old time in the summer, eating his body-weight in berries and lazing around, sunbathing. Industrious mouse, however, is shrewd, and stockpiles his berries and builds protection from the coming winter. When the cold inevitably strikes, lazy mouse finds themselves out starving in the elements, completely at the mercy of their industrious counterpart, who is reaping the rewards of frugality.

Nice story. Unfortunately, in real life, we don’t always have an industrious friend to fall back on.

The solution? Be that industrious friend!

No matter how old you are, it is never a bad idea to begin investing in your future. The longer your money sits in an investment – whether it be superannuation, real estate, a high-interest bank account, or even a Wall Street portfolio – the more the compound growth you will be able to enjoy when you are ready to collect it.

The future is uncertain enough. Get a head start. Do your research, allocate your money wisely, and then reap the dividends so you never have to suffer a winter again.

Resolution #3: Make Bank

The key to securely growing your wealth? Multiple income streams.

Naturally, this resolution applies only to those that can do more. If you’re working three jobs, taking care of two kids, and running on fumes after only half an hour’s sleep – you’re off the hook!

For the rest of us, multiple streams of income that are diverse in direct or passive nature is the best way to obtain future financial freedom.

Now that you have filled out another tax return, take it as a document proving there is potential for more. Branch out from your everyday ‘9 to 5’. Find your entrepreneurial streak by investing your time and a portion of your savings into a side hustle or two. Take a class to learn about investing, and introduce your idle money into machines that will produce income passively – as in while you sleep! With the glory of the ever-growing influence found on the internet and social media, establishing multiple income streams has never been easier!

Just think long term. For a while, you work the grind, ensuring you spend less then you are bringing in. Then in no time at all, you can use one income stream for everyday expenses, another to invest in businesses, and perhaps the other, other to splash out on something fancy for you and your family.

Need help getting started?

Sometimes you need money to make money. Debt consolidation, help for struggling business, whatever – Swoosh gets it. That is why we offer personal loans of amounts between $2100-$5000, with simple, fixed term repayment schedules, perfect to implement into your new financial year’s budget. Get in touch today to learn more.