25 things to do in FY25 to reach your goals this financial year

  • 3 July 2024
  • by BG Private
  • 3-minute read

As we kick off FY25, we’ve collected 25 things you can do to reach your goals in the financial year ahead.

1. Set your financial goals for the year ahead including things like your savings targets, debt repayment plan, and getting control of any money matters you’re not on top of

2. Create a detailed budget that includes everything from your Netflix subscription and annual car registration costs to how much you’ll put aside for vacations

3. Make an appointment to see an Accountant and/or Financial Advisor as they can give you tailored strategies and tips you may not have considered yet

4. Double check any investments to ensure they are working as planned

5. Pledge to live below your means

6. Set up sub-accounts for your various money goals (some banking apps let you do this easily) so that you can keep track of your progress

7. Automate your savings by setting up an automatic deduction from your pay that goes directly to your savings account (ask your bank about how to set this up)

8. Ensure you have emergency and rainy-day funds saved

9. Check the balance of your superannuation

10. Review your insurance policies and premiums (including the insurance built into your superannuation) to check you are not over- or under-insured

11. Check the balance of any student loans, and read our article on 9 things to know about HECS debt

12. Double check you are happy with how your super is invested, and listen to our podcast on 5 super tips for your superannuation

13. Shop around to make sure you’re getting the best deal on things like bank fees, super fund fees, interest rates, insurance, and utilities

14. Discuss the potential for a pay rise with your employer

15. Do your estate planning, including writing your Will

16. Look into your employer’s salary sacrifice options

17. Ask your Accountant whether you’re missing any tax reduction opportunities

18. Consider whether you have all the insurance you need, like health insurance, income protection, pet insurance etc.

19. Check your credit score

20. Double down on your cyber security awareness, and keep an eye out for the most common scams

21. Increase your financial literacy by speaking to a professional, listening to podcasts, and reading blogs or books

22. Start investing — even small amounts can make a big difference later thanks to compound interest

23. Check your bank statement for any subscriptions you might have forgotten about — and cancel any you don’t need

24. Prioritise paying off high-interest consumer loans like your credit card

25. Reduce your reliance on credit cards and buy now, pay later for discretionary spending

Contact us

We have friendly and experienced Financial Advisors and Accountants who can help you reach your financial goals.

Contact us and we’ll help: +61 3 9810 0700 |