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Why it’s so important to get clear on your financial goals

Ask anyone the question “would you like to achieve financial independence?” and it’s likely the answer will be a resounding yes.

Whether or not you even understand the meaning of ‘financial independence’, it sounds like an appealing idea. No one wants to be dependent. Or reliant. Or vulnerable.

Being financially independent sounds like a life of freedom, a life of choice, a life of ease. It can be defined as this:

Financial independence is when a person has enough wealth to meet all their expenses without working for a living or relying on others.

The reality is very few Australians will achieve financial independence.

The average Australians’ money situation

Most Aussies would consider their finances to be comfortable. Many are making rent or mortgage repayments on time, building up modest savings, and occasionally going on holidays.

Nearly half of all Australians could survive off their savings for one month or less.1

Australians are often highly leveraged, with an average debt to income ratio of 190 per cent.

The climbing cost of household expenses, the stalling of salary increases, the growing number of people in rent or mortgage stress. These things all contribute to a rather fragile economic situation for a lot of everyday people.

So is financial independence actually achievable?

It’s almost impossible to achieve a goal that hasn’t been set.

And that’s the problem with financial independence. Very few people are clear on how much money they need to cover their expenses without having to work.

We need to move beyond saying ‘I’d like to have no debt’ or ‘I’d like to have a comfortable retirement’ and actually come up with some firm numbers on what it would take to achieve that.

If we quantify financial independence then we can start to:

  • Measure it
  • Track it
  • Create it

How to find out your ‘financial independence’ number

We don’t want anyone to be left uncertain about how much money they need to be financially independent.

That is why we run our free Scorecard Workshop. In just 90 mins you get clear on your current financial situation and set a goal for achieving financial freedom.

Don’t be left in the dark any longer. Create tangible goals to work towards.

Register now for the next Scorecard Workshop.


1. Source: Finder Consumer Sentiment Tracker, December 2021

Disclaimer: The information provided in this blog and video is not legal, taxation or financial planning advice. It has been prepared without considering your specific needs, objectives and personal financial situation. Before acting on this information, we recommend that you consider carefully if it is appropriate for your needs, objectives and personal financial situation. All loan products are subject to lender criteria and approval. Fees, terms and conditions apply.

The average Australian earns $2.07 million over their working life, yet 80% will still find themselves broke after decades in the workforce.

You don’t have to be average. Use property as a tool to get you financially sorted for life!

We look forward to journeying with you on your way to lifestyle choices and wealth.