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Financial Planning Wealth Creation

Personal Finance Tips to Help You Get on the Right Track

Regardless of your age, you need to be building personal wealth. Unfortunately, this isn’t a subject taught in the majority of schools. Personal Finance Tips are often something people stumble upon while researching another topic, or they realise they aren’t very savvy when it comes to personal finance management and go looking for help.

You can be financially wise, even if this is a subject that you haven’t been overly concerned with in the past. Following are some tips to help you get started.

Know Where You Stand Financially

Make a list of all assets and debts, so you have a starting point. Take the time to learn your credit score also, and there are now sites that will provide this information for free.

There is no need to pay for this information anymore. Be sure to monitor your credit report regularly, as you are at risk of having your identity stolen. The more you know about where you stand, the easier it is to plan for the future.

Make A Budget

If you don’t tell your money where to go, it will continue to dictate every aspect of your life. Create a budget, and be prepared to adjust it over the coming months. No one gets their budget right the first time.

Set aside money for savings, and then pay regular bills. Be sure to include any bills that don’t occur on a monthly basis, and plan for expenses such as car tires and household items. They will be needed at some point in the future.

Establish An Emergency Fund

Life happens, and people need to be prepared for the unexpected. With an emergency fund, this task becomes easier. Set aside $500 or $1,000 in this fund.

When an emergency arises, one that can truly be called a crisis, the funds will be ready for use. The fund should not be used for a last minute vacation or an expected expense, such as car tires, but only for those things that cannot be predicted.

Establish goals, so you know what you are working for, and shop sales. Stock up on regular items when you find a good deal, and delay major purchases for 30 days. Doing so ensures you truly need the item you are buying. With simple steps such as these, you’ll find you have more money at the end of the month.



Paul Baggetta is the Founder & Principal of Baggetta & Co. Paul Baggetta has been a Taxation Accountant for over 36 years, a Financial Planner for over 18 years and in 1993 qualified as a Real Estate Licensee, holding a Triennial Certificate (currently not trading), and operated his own Real Estate business for property investment clients for over 5 years as a second business.

 Financial planning services provided by Paul Baggetta as an Authorised Representative (No. 261469) of Capstone Financial Planning Pty Ltd. ABN 24 093 733 969. Australian Financial Services License No. 223135. 

Taxation & Accounting services provided by Paul Baggetta as a Registered Tax Agent (No.61487008) and is a Member of SMSF Association, IPA & NTAA.


The material and contents provided in this publication are informative in nature only.  It is not intended to be advice and you should not act specifically on the basis of this information alone.  If expert assistance is required, professional advice should be obtained.

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The information provided on this website is for general guidance only and is no substitute for professional advice. It should not be used as a substitute for legal, business, accounting, tax, financial planning or other professional advice.