I don’t do a lot for myself; I am the mother to three boys after all, however, there is one thing that I have done since the birth of my first baby for myself because financial independence and security is my thing.
It’s superannuation. I know yawn.
Now for disclosure reasons I am not a financial planner so there for this is an experience not advice and you should always seek council before taking advice from anyone. blah.
Now because my boys were or are essentially my employer they paid me in great benefits of love, kisses, snot and the unmeasurable amount of happiness, but they did not pay my super.
Super has always been my thing. When I was working I made extra payments and my husband has done the same. Making sure we have enough superannuation for when we retire has been important to us right from the beginning of us becoming a couple, we don’t want to struggle like our parents. It was one of the things we had in common when we met which sound so nerdy now but women on average have $92,000.00 less than men because we usually stay home and take care of the babies which is great but women are known for living longer also, the gap in our super can create a few problems with that.
So when I become steadily employed by boys incorporated I continued paying my super via my husbands wage into a simple cash managed online account. {back then you couldn’t just pay into an account}. It wasn’t a massive amount just $10 a fortnight but that $10 has accumulated and well you know how it works.
These days there is no reason not to do super while at home looking after the most important things in life. You can continue paying into your own established Super via B-Pay or you can start a simple cash super with someone like Ing. {No affiliation it’s just who I use. It was no fuss to set up and its easy to use}. Your partner can make contributions on your behalf and receive a tax benefit as can you for being a low-income earner.
So find your super details. Head to your online banking and set up a continual direct deposit of your given amount into your superannuation account because something is better than nothing.
xxDeb
