Paying too much interest to the bank, not knowing where money is spent and a “Beat Tiger Woods at golf” mentality; these were the three biggest financial mistakes that Recruiters made in 2009 according to our recent research.

Over the next few months we’ll be visiting the offices of a number of recruitment firms to explain to Recruiters how these mistakes were made and what can be done to avoid them in 2010.  During the session we will go into more detail about:

• How to use an offset account properly – our research showed that many people have them but aren’t using it because the strategy behind hasn’t been explained properly.  By using it properly, you’ll end up paying less interest to the bank and one day if you convert it into an investment property, be able to claim more back in tax.

• A lot of money is being wasted because Recruiters haven’t taken a step back and defined what they want to achieve with their money.  Money is being spent on things we enjoy like cars, shoes, cufflinks, eating out – which is fine, but it comes at the cost of being able to spend money on things we enjoy more such as travel, personal development or planning for the next stage in life.

• It may come as a shock to some but our research suggested that some Recruiters may from time to time suffer from over-confidence.  Over confidence can be very damaging to your financial affairs when one thinks they can pick up the Financial Review and pick the next Google or visit www.realestate.com.au and know what to pay for an investment property.  There is money to be made on both the share-market and property market but thinking you can do it yourself is like picking up a golf club tomorrow and thinking you can beat Tiger Woods in a game of golf.

We’re not saying we can identify the next Google, but we do know how to implement a successful and careful investment strategy that doesn’t require any crystal ball gazing – and on the subject of investment properties, it may mean seeking further advice from a trustworthy property advocate who can help you make a smart decision when investing such a large sum of money into one asset.

Our presentation also includes a few tips and traps to avoid in other areas such as insurance, super and estate planning.  If you think this might be of value to you and your work colleagues, let us know and we’ll make time to visit your office soon.