22 April, 2015 - 10:33 AM GMT

Changing jobs? - time to update your finances

Changing jobs can be exciting – more responsibility and more income. But the options available around super and insurance can be confusing, particularly if you’re moving from freelance work to working full time for an employer.


If you are interviewing for a new role, some employers may offer to put extra contributions into your superannuation account, while others may offer you free income protection insurance. How do you best compare the options and decide which is best for you?


You may not be ready for a total financial wellbeing check-up, but just be looking for some guidance as you make these new steps in your career.


When Faith made a radical career change – from model to medical professional, her workday wasn’t the only aspect to undergo a transformation. 


In the video below Faith talks about how the move changed her thinking about protecting her financial security.



Here are some points to consider about super and insurance when changing jobs:


•    At your new job, you will be able to nominate a super fund, but if you don’t, your employer will set one up for you

•    Find out if your new job offers income protection insurance and what insurance is available through their employer group super plan

•    Save first, spend later – start putting some extra aside before your lifestyle adjusts to a higher salary

•    Talk to an adviser – financial advice doesn’t have to be complicated and can help make your choices clearer

•    If you have had multiple jobs previously, make sure that you claim any lost super. Also consider consolidating your super. Your adviser can help.

•    A new job is the perfect time to get your super and insurance sorted and make your money work as hard as you



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