Mark and Jane have a reasonable level of income but they were living pay to pay. They required assistance to manage their income and expenses (outgoings) so they could effectively save for their goals such as purchasing a new car in in the next 2 years and to build a deposit to purchase a home within the new few years. Their immediate need was to wrest back control of where their funds were going.
We recommended that Mark and Jane should initially complete a budget so they could recognize just what their outgoings were and therefore their capacity to save. From there we arranged with their employers to split their salary into various accounts, each of which would serve to cover particular outgoings. Surplus funds would be directed to a high interest at-call account to be used to fund their goals.
With their immediate issue solved, we helped Mark and Jane develop clear financial and lifestyle goals then created a cash-flow management plan designed to achieve them.
Today, Mark and Jane have begun saving for their first goal of buying a new car. We also continue to help them build and protect their wealth for the future via superannuation and insurance.
This is a hypothetical example based on a real client experience. Names and details have been changed.