Oct 10, 2022 9:27:49 AM

Time to Spring Clean Your Finances

Topics: Mortgage Broker, Financial Health, Health and Wellbeing 0

Spring is traditionally known as a time to spring clean. The time of year when we dust off winter blues, clear out clutter, and deep-clean our homes to prepare for warmer days ahead. Spring is also the perfect time to make some important changes to our financial situation: fine-tune our savings, reassess financial goals, and review the home loan. It’s time to spring clean your finances!

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1. Fine-tune your savings

Help grow your savings or emergency fund faster with a high interest savings account. Before you open a savings account compare accounts from different providers to find the best one for you. Here are some important questions to ask:

  • How much is the interest rate?
  • How often is interest paid?
  • What are the fees?
  • Can you link the savings account to a transactional account and is digital access available?
  • What are the costs to withdraw or deposit funds at ATMs or inside the bank?
  • What are the restrictions around minimum balance and regular deposits?

2. Reassess your financial goals

Plans change all the time and financial goals are no different. Take the time now to reassess where you’re at with financial goals set at the beginning of the year. Celebrate the goals you’ve achieved, and realign those that need to change or move.

It’s also a good time to:

  • Check your credit score.
  • Revisit your budget.
  • Remind yourself why you set your financial goals in the first place.
  • Be flexible and agile to align with changes in the economy or your own personal finances.

3. Review your home loan

Circumstances change over time, which is why it’s so important to check that your home loan still fits your budget and lifestyle, and that you’re not missing out on a better deal. A home loan review could help save you money, reduce your repayments, consolidate your debt, and provide more flexibility for the future.

As a general rule of thumb, it’s a good idea to review your home loan at least once a year, or any time:

  • Your personal situation changes. You get married, have a baby, get divorced.
  • Your financial situation changes. You change jobs, retire, or get a pay rise.
  • Interest rates move up or down.

Work with a Mortgage Express broker

Shopping around for a better home loan deal could save you thousands of dollars in interest charges and potentially shorten the lifespan of your loan. And while interest rates are rising, it’s more than important than ever to set yourself up for financial success by checking that you are still getting the best deal available to you, and that the interest rates you’re paying are still competitive in the current financial environment. 

Contact a Mortgage Express broker today to help you compare home loans on offer and assist with refinancing if you decide to switch home loans.


While all care has been taken in the preparation of this publication, no warranty is given as to the accuracy of the information and no responsibility is taken by Finservice Pty Ltd (Mortgage Express) for any errors or omissions. This publication does not constitute personalised financial advice. It may not be relevant to individual circumstances. Nothing in this publication is, or should be taken as, an offer, invitation, or recommendation to buy, sell, or retain any investment in or make any deposit with any person. You should seek professional advice before taking any action in relation to the matters dealt within this publication. A Disclosure Statement is available on request and free of charge.

Finservice Pty Ltd (Mortgage Express) is authorised as a corporate credit representative (Corporate Credit Representative Number 397386) to engage in credit activities on behalf of BLSSA Pty Ltd (Australian Credit Licence number 391237) ACN 123 600 000 | Full member of MFAA | Member of Australian Financial Complaints Authority (AFCA) | Member of Choice Aggregation Services.