The early bird saves the most

Maximise your earnings to kick off new tax year

- with WARREN SHUTE

As I reflect on the early days of my career, I'm filled with gratitude for a simple yet powerful piece of advice I received at just 21 years old, as I was starting out as a financial adviser.

My manager encouraged me to “pay myself first”, to set aside a portion of my salary each month before anything else. This counsel, given 30 years ago, has guided me ever since, leading me to set aside a part of my earnings every month. So each April, at the start of the tax year, I revisit how much I will save for the following 12 months.

It’s crucial that you maximise your earnings and take advantage of tax breaks to kick off the new tax year on a positive note.