3 easy steps to get financially fit for 2014

New year, new you, right?

Whether you’re hitting the gym for the first time in years or you’ve decided to cut back on a certain food, there’s one area of our lives all of us can work on improving – the health of our finances. Here are 3 easy steps to help you improve the health of your finances for 2014.

1. Make sure you have the right products for your situation

Everybody’s financial situation and needs are different. Now is a good time to do a stock take of all of your financial products to find out if there are opportunities for you to be saving money. If your finances have been a little neglected by you in the last year you will need to look at whether or not you are using an account for its true purpose, whether you have any accounts you aren’t using and what products may be available and better suited to your needs.

This can be a daunting and confusing process if you do it on your own. If you’d like help drop into one of our branches or phone our Queensland based Contact Centre on 13 14 22.

2. Budget

Why not make 2014 the year for you to do up an effective and honest budget? If you’ve already got a budget now would be the time to review it and see where you can improve from last year. A good start is to take a look at MoneySmart’s budget planner. The planner will help to get you thinking about all the possible places your money could be going. For example, it gets you to think about how much you spend on hobbies, eating out and cigarettes to name a few. It will also take into account where your money comes from, for example, take-home pay, child support and bonuses.

3. Group your insurance products to save money (and time)

At Heritage, the more you insure with us, the more you save money. For example, if you insure your home building and contents on the same policy you will save up to 10% on your premium. If you also insure your motor vehicle together with your home building and contents policy, we’ll discount your motor policy by up to 5%+. What’s more, you’ll have all your products in the one spot which means less hassle for you.

+ Insurance is issued by Allianz Australia Insurance Limited (Allianz) ABN 15 000 122 850 AFSL 234708 of 2 Market Street, Sydney NSW 2000. ++Travel Insurance is arranged and managed by AGA Assistance Australia Pty Ltd ABN 52 097 227 177and issued by Allianz. Terms, conditions, limits, and exclusions apply to this insurance. In arranging this insurance Heritage Bank Limited (Heritage) ABN 32 087 652 024 AFSL 240984 acts as an agent for Allianz and not as your agent. Minimum premiums may apply. Any discounts/entitlements only apply to the extent any minimum premium is not reached. If you buy Allianz products, Heritage may be paid commission (up to 30% of the premium). Any advice here does not take into consideration your objectives, financial situation or need, which you should consider before acting on our recommendations. To decide if this product is appropriate for you, please read and consider the Product Disclosure Statement (available by calling 13 14 22 or from Heritage branches).

* Home loan comparison rate based on a $150,000 loan over 25 years.  Fixed loan comparison rate applies only for loans with an LVR of 80% or less and a loan amount of $150,000 to $249,999.  WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Interest rates are on a per annum basis. Rates are correct as stated and subject to change without notice. Rates shown are for new loans and do not apply to switches or internal refinances.

Home Advantage Variable rates include discounts shown from the Standard Variable rate. Home Advantage Living Equity rates include discounts from the Living Equity rate. Discounts are based on total lending in the package. Discount Variable LVR rates are for new lending and include discounts from the Discount Variable Loan Rate.  Discounts are not available in conjunction with any other interest rate discount or special offer. All fixed rates are fixed for the period stated and revert to the variable rate applying at expiration of the fixed term. To approved applicants only. Conditions, criteria and fees apply.

Loan to Value Ratio (LVR) is the loan amount divided by the value of your security property (determined by Heritage Bank at assessment), multiplied by 100. Owner Occupied loans have a maximum LVR of 95%, Investment loans have a maximum LVR of 80% and Living Equity has a maximum LVR of 80%. Heritage is not accepting any new investment applications until further notice.

This advice has been prepared without taking into account your objectives, financial situation or needs. Because of this you should, before acting on this information, consider its appropriateness having regard to your objectives, financial situation or needs.

Generate a personalised Key Fact Sheet based on your loan amount, term and repayments. This tool is provided to help you compare home loans from Heritage with other financial institutions.

The information provided is intended as general information only. Blogs have been prepared without taking into account your objectives, financial situation or needs. Because of this you should, before acting on this information, consider its appropriateness having regard to your objectives, financial situation or needs. You should consider obtaining personal investment, taxation and/or legal advice before making any decision.  Please consider the Guide to Heritage Deposit Products and Guide to Heritage Credit Card Products (available in-branch, or at www.heritage.com.au) before you decide whether a product is right for you. All loans and credit cards are subject to application and approval. Conditions, criteria and fees apply and are subject to change without notice.