The new financial year is here. Besides getting your tax affairs in order, this is also a great time to review your relationship with money and set out some financial resolutions for the new financial year.

1. Pay down your debt

Debt can be a burden that holds you back significantly in your financial freedom journey. Especially “bad debt” like credit cards, car loans,… So as soon as you can pay them off, pay them off.

Paying off debt is a great investment. For example, your credit card interest rate is often around 20% per year. So every dollar you use to pay off your credit card debt, you make a 20% return on your investment.

That is a 20% guarantee return with NO RISK. Considering the S&P 500’s average return is only 10% p.a, paying off your debt is a no-brainer investment. So this should be on top of the list of your financial resolutions.

2. Automate your saving

“A part of all I earn is mine to keep.” The Richest Man in Babylon

Your money is yours, so make sure you keep some for yourself. Don’t give them all away to your landlord, merchants, retailers. SAVE IT

A good way to have a good saving habit is ALWAYS PAY YOURSELF FIRST. Set up an automated transfer from your main account to your saving, every time you get paid. Only spend the money you have left after the transfer. Do not touch your savings account unless it is an emergency.

This financial resolution is not just being used as a defensive plan (emergency funds). It can also be used as an offensive plan as this money to invest and make more money.

3. Create a budget and stick to it

Budgeting is boring but it should be a vital part of your financial resolutions. But if you already followed 2 and automated your saving, budgeting is so much easier since you only have a certain amount of money left to spend.

Think beyond a normal budget, which consists of rent, utilities, foods, clothes, etc. Budget for big items that you are planning to get in the future as well, eg: cars, houses, holidays,…

Say you want a car that costs $20,000 in the next years. Set aside $834 for this every month in your budget.

4. Invest

You can only work so hard. Let’s make your money works for you. Invest your hard earn money into assets that can produce even more money for you. This can either be stocks, properties, gold, crypto,

Besides that, why not invest in the important asset out of all, yourself. All the traditional assets come and go, but no one can take your skills away from you.

So, invest in yourself, upskill your abilities and broaden your knowdledge by learning. This can help to increase your income by many folds in the future.

Need some money to invest? You will be surprised at how much you can get for your old jewellery and silverware.

Here at The Gold Company, we buy all kinds of precious metals and stones in any form. Diamonds, Gold, Silver, and Platinum,… You name it. We also offer a FREE valuation for your precious metals and stones. If you want to sell it to us, awesome. But if not, cool no questions asked.

We offer a contactless solution for valuing your jewellery. Our award-winning GoldPak combines the ease of remotely selling gold, silver and all precious metals with the security, attention and personal service you would expect of a face-to-face transaction. Plus, it is COMPLETELY FREE.

Any questions please don’t hesitate to give us a call or send us an email at:

Phone 02 9020 5150 



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