Jenny, 25 Graduate

Let's look at how Fin15 helped Jenny gain financial freedom

MEET JENNY

Jenny is 25, and she works as an artist at the local Gallery while she also works full time as a barista. Jenny has worked most of her life but has never consolidated her super and she has no idea if she has insurance or not. Her goal is to save about $4.5 k as she wants to have her own exhibition in Canberra. 

THE PLAN

After becoming a member of Fin15, we found out that she had six different lost superannuation accounts, two of these funds has insurance, but they were not suited to Jenny’s needs.  Fin15 worked with Jenny to place all her super into one account saving her $430 dollars a year in fees, we locked down good quality insurance focusing mainly on income protection, and we took care of a tax and savings plan for her at no out of pocket cost.  Now, she can have peace of mind knowing she can pursue her passion without worrying about her finances.  

Can’t wait for Jenny’s exhibition in Canberra!  

THE RESULTS

$ 0

Total Savings in her first Year

Jenny earned $56,000 per year at her Full-time job so we recommend her income protection for $3,800 monthly benefit in case she could not work due to illness or sickness.  The premium amount was $650 per annum, and the majority was charged to her superannuation to minimise her out of pocket cost so she only has to pay $70 per annum from her own purse.   We also cancelled the extra 2 insurances she had as they were not suitable for her saving her $1,010 per annum. We also help her set up a company so she could deduct most of her expenses as an artist and created a savings plan of $40 a week saving her $2,080 and also increate her tax return from nil to $2,950 achieving her goal of getting the money for her exhibition.