Essense Wealth Solutions

Time to Take Control: Maximise Your Cashflow and Manage Your Debt

Facing rising costs and increasing mortgage rates can be overwhelming. Essense Wealth, in partnership with our preferred mortgage brokers, offers tailored strategies to help you take control of your financial future. By reviewing your financial plan, you can navigate these challenges effectively. Your plan should include reviewing your budget, freeing up cashflow for ongoing expenses, and managing long-term debt, such as your mortgage.

Benefits of Reviewing Your Mortgage:
➕Lower Interest Rates: Refinancing can reduce your monthly repayments and total interest.
➕Flexible Repayment Terms: Adjust loan terms to lower monthly payments and better manage your budget.
➕Debt Consolidation: Combine multiple debts into your mortgage for a lower interest rate and simplified repayments.
➕Optimised Loan Structure: Reviewing and restructuring your loan can provide more favourable terms and repayment options to suit your financial needs.

Working with Essense Wealth and Our Preferred Mortgage Brokers:
➕Assessment: Evaluating your financial situation, including debts and income.
➕Strategy Development: Creating a customised debt consolidation plan.
➕Implementation: Refinancing your mortgage to include consolidated debts.
➕Ongoing Support: Providing continuous advice to keep you on track with your financial goals.

📆Contact Essense Wealth for an obligation-free financial and mortgage review.

https://loom.ly/jY9xZa4

From 1 July 2024, Centrelink will implement significant changes to the Age Pension 👨‍🦳🧑‍🦳.

➕Increased Income and Asset Thresholds
👉 Single pensioners can earn up to $212 per fortnight, while couples can earn up to $372 without affecting their full pension.
👉 Asset limits for single homeowners will be $314,000, and $566,000 for non-homeowners.

💸Bonus for Additional Working Hours
👉 Pensioners can earn more from part-time work without impacting their pension entitlements, encouraging workforce participation.

📈Indexing of Deeming Thresholds
👉 Deeming thresholds will be indexed to reflect current economic conditions, ensuring fair financial assessments.
Singles: First $62,600 of assets deemed at 0.25%, up from $60,400. Couples: First $103,800 of assets deemed at 0.25%, up from $100,200.
Above these thresholds, assets are deemed at 2.25%.

These updates aim to provide better financial support for retirees, addressing the rising cost of living and enhancing their financial stability. For more information contact us at Essense Wealth.

Do you set New Year's resolutions? The approach of the New Financial Year is a great time to review and renew your goals.

Our goal-setting sessions always begin with WHY. By uncovering what’s truly important to you in life, we can ensure the strategies we create for you always align with your core values.

Begin by asking yourself: what is most important to you in life, and what does success look like for you, personally? WHY is this outcome so important, and what will it mean when you achieve it? 🎯

Once you’ve established your values and goals, it’s time to set some SMART parameters:
✅Get SPECIFIC in defining the desired outcome.
✅How will you MEASURE success?
✅Is your goal realistically ACHIEVABLE (and if so - HOW)?
✅How is the goal RELEVANT to your values (what’s truly important to you)?
✅In what TIMEFRAME will this outcome be achieved?

The HOW is where we shine. We can help you with a detailed and personalised financial strategy to help you achieve your goals. 🌈

~Your why, our how~