- Salary of $110,000 per annum
- Personal debt of $7,000
- No personal budget or plan
- Multiple superannuation accounts (lost super)
- No risk management (i.e. income protection)
How did we help?
- Cashflow management – by constructing and implementing a detailed budget for Stephanie, we were able to create a 25% profit in her personal Profit & Loss statement.
- Debt management – by using the profit created in the cashflow management plan above, we were able to extinguish Stephanie’s debt within 6 months.
- Superannuation consolidation – we were able to find Stephanie a new ‘low fee’ superannuation account, roll all of her superannuation funds into this account and then invest the funds according to her individual risk profile.
- Risk management – an appropriate risk management plan was put in place and funded through her newly opened superannuation fund. This enabled her to thoroughly assess the risks involved with her retirement before she took the plunge, and was able to budget for a sustainable and secure future.
Once Stephanie has paid off her personal debt and been using our budgeting approach for 12 months, we will look at her next goal of saving a deposit to purchase a property.