Week Two Reflection

This week I completed Units 6 and 7.

"Lifetime Health Cover makes joining after the age of 30 worthwhile"

Comment: A remark which highlights something that I can apply in my future to save money and plan to establish once at the correct age.

"Keep receipts, photographs of items and asset register to provide evidence for a claim"

Comment: A routine I have already established with regards to the expense tracker for this course, will serve me well as I apply it to the contents of my house in the future.

"If you can't afford to buy, you can't afford a car"

Comment: This refers to 3rd Party Property Insurance, which seems to me like the most important insurance that can be b0ught with regards to vehicle insurance.

'Keep savings for car/holiday completely seperate to these 'investments'"

Comment: In regards to superannuation, this advice was quite interesting, but raised the question of where to keep the savings for car/holiday? If you keep them in an everyday account they are likely to be spent, and if you put them in a savings account the interest accrued from this account will be nullified when u withdraw the funds to pay for the car/holiday.

''Difficult to consolidate multiple accounts into one fund"

Comment: In regards to having multiple superannuation funds which is applicable to me. I believe I have super kept in multiple accounts, and my parents want me to divert these funds into a single account under Westpac, the company my mum works for. For future thoughts, completing this task may not be straightforward