5 easy ways to understand & take control of your financial well-being

 

Never, has transparency and openness been more valued than it is today…In our relationships, how we work with others, and how we invest our hard-earned money.

When it comes to our finances, clarity is important when it comes to understanding what investments we hold, how they measure up in the market, and how much risk we are taking.

Without clarity, we have no control over our financial future. Without transparency, we are left, at the very least, feeling exposed to unexpected risk, and diverted from how we would like our money to work hard for us.
Financial clarity can help us to make better informed decisions, discouraging us from reacting emotionally when markets are down.

5 ways to get some financial transparency into your life…

  1. Start reading.
    Knowledge is power. Find out all you need to know about your investments, including your super accounts, and insurance. Review the management fees applied to each investment or policy, and find out how they compare to similar products out there in the marketplace.
  2. Ask the right questions.
    Once you have established what your financial world looks like, it’s time to ask the right questions to understand whether you are on track. Contact your super provider, understand the various investment options, and whether you are appropriately invested.
  3. Seek out the assistance of a professional.
    A professional financial adviser will always act in your best interests. They are legally obliged to. Some will of course be better than others. A great financial adviser will get to know you, decipher the investments and insurance policies that you currently hold and match them to your investment profile and financial objectives. In short, they will help you do the research, and will frame their recommendations based on your needs and objectives.
  4. Seek transparency from your adviser.
    Smoke and mirrors will get you nowhere. If you do not feel like you understand the value that your adviser provides you, you are well within your rights to ask for clarity. They should provide you with a clear explanation of how they are paid for what they do, what management fees you are paying on products that you hold and the investment philosophy behind the decisions that have been made.
  5. Take advantage of technology that can provide simplicity and transparency to your financial situation.
    There are many innovative solutions out there that can provide you with a vast array of choice, streamlined processes, transparency and flexibility over how you invest.

Cashwerkz is an online marketplace for cash, term deposits, bonds, and fixed interest products.  We focus on providing a seamless and transparent experience, enabling you to easily view, and switch your investments at maturity.  At Cashwerkz we believe in the power of technology to be an enabler for people seeking control and clarity around where they are investing their money.

Register to find out more about how Cashwerkz can provide you with the clarity you need to simply and securely invest and manage your cash.

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