Three Financial Resolutions to Propel You Into 2025

As the New Year begins, many of us set goals revolving around fitness or health. But what about your finances? With the challenges of 2024 still fresh, now is the perfect time to make a financial resolution that can set you up for success in 2025. We have laid out three actionable steps for you to consider this year wisely.

While 2024 was undeniably a challenging year for mortgage holders, marked by anticipation of rate cuts that never quite materialised and the pressure of inflation, 2025 offers a chance to recalibrate. If you start the year with one or two of these resolutions in mind, you’ll be better prepared to face whatever financial challenges come your way.

1. Book a Home Loan Health Check with Us

Do you know the interest rate on your mortgage?

If you can’t recall, you’re not alone. A surprising 40% of homeowners are unsure of their own interest rate.

If this sounds like you, it could be a sign that your mortgage needs a closer look. According to RateCity, borrowers who haven’t refinanced in the last year have ended up paying an average of $6,000 more in interest over that period.

At Osinski Finance, we make the process of reviewing your loan straightforward. Give us a call to schedule your home loan health check, and let’s see if there’s a more suitable option for you in 2025.

2. Trim Down Unnecessary Expenses

When was the last time you took a hard look at your budget?

Conducting a regular expense audit can reveal areas where you might be overspending. It’s common to accumulate subscriptions for streaming services you seldom watch or regularly splurge on takeaway meals.

Small changes can lead to significant savings. For example, a daily $5 coffee habit can set you back $1,825 a year. But by switching to a simple French press at home, you could spend just $350-$450 annually, a big difference that adds up over time.

3. Unlock Your Home Equity to Reach Other Goals

Your mortgage isn’t just a debt; it’s an asset that can help you achieve your other financial dreams.

You might be sitting on more equity than you realise. In January 2023, the median home value in Australia’s capital cities was $770,374, according to CoreLogic. By now, the median value has increased to $897,580, meaning Australian homeowners have gained almost $130,000 in equity over the past two years.

This equity could serve as the foundation for other investments, whether you’re looking to buy an investment property or fund home renovations. For example, that $130,000 equity gain could cover a 20% deposit for a property valued between $600,000 and $650,000.

If you’re curious about how to unlock your home’s equity for future goals, give Osinski Finance a call today. We can help you understand how to maximise the potential of your property.

Let Osinski Finance Help You Achieve Your Goals

At Osinski Finance, we’re here to support you in making informed financial decisions for 2025 and beyond. looking to cut unnecessary expenses, wanting advice on unlocking equity in your property, or considering refinancing this year, we’ve got the expertise to guide you every step of the way. Reach out to us today and start turning your financial goals into a reality.

Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute tax or financial advice, whether general or personal, nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced, or republished without prior written consent.