Tax season is the perfect time to pause and check in on your personal finances. A quick review now can help you avoid surprises, spot opportunities, and put you back in control. We’re encouraging clients to take just five minutes to run through this simple 5-step financial health check:
5 Steps
1. Payslip — Do You Understand It?
Make sure you’re receiving a payslip each pay cycle and that it matches your bank deposits. Check that your super contributions (rising to 12% from 1 July 2025) are being paid correctly. If anything doesn’t look right, raise it early.
Check for things like
- HELP/HECS being withheld
- Are you being paid the correct rate?
- Are you getting any allowances?
- Are you salary sacrificing?
- Is your super being paid into your fund at least quarterly?
2. Cash Flow — Are You Building or Burning?
Open your banking app and take a look at the bigger picture. Are you saving, investing, or paying down debt? Even small, consistent extra repayments on a loan can shave years off and save significant interest over time. Think about allocating income as it lands so that you don’t spend money that should be allocated to other things.
Do you have excess cash flow? What is the best way to minimise tax?
3. Super — Do You Know Where It Is?
For many people, super is their largest investment — yet it’s often overlooked.
Log in to your super fund portal and check your balance. Make sure your details are current and your fund is aligned with your long-term goals.
🚨Make sure that your employer is making contributions at least quarterly. From 1 July 2026 Pay Day Super is proposed to start. So your super will land within 7 days of each pay day.
If you’re unsure, you can log into the ATO via myGov to see which funds are listed under your name and view the last recorded EOFY balance.
💡 You can also use your super to save tax. Want to know how?
4. Interest Rate — Are You Paying Too Much?
When was the last time you reviewed your mortgage, investment loan, or car finance? Even a small reduction in your interest rate can save thousands over the life of a loan. A quick review is often one of the easiest financial wins.
👉 Ask us for a referral to a mortgage broker
5. Personal Balance Sheet — What Are You Worth?
List your assets (property, shares, savings) and subtract your liabilities (loans, credit cards, other debts). This is your equity. Knowing your net worth gives you a clear snapshot of your financial position and helps you make smarter decisions. Note your Super as a separate asset as it can’t be accessed until you retire.
Remember: knowledge is power.
Why This Matters
These five checks take just a few minutes but can highlight areas where you might save money, reduce risk, or unlock opportunities. Think of it as a financial pulse check before tax time.
If you’d like help reviewing your position, or want tailored advice on super, property investments, vehicle purchases, or commercial property strategy, book a session with us today.