Life gets so busy and the months soon roll into years when suddenly you find that your finances are off track and you’re nowhere near achieving your goals. Instead of thinking it’s all too hard take a few moments to review the following tips.

You’re probably already pretty impressed by what your smartphone can do, but have you thought of it as a wealth builder?

It’s all down to the apps you can install. There’s an increasing range available to help you manage your spending, supercharge savings, complete your tax returns and manage your investments – all at the tip of your fingers.

Paul Taylor was a fit and active 45-year-old who drowned while swimming in the surf on a family holiday. Witnessing this tragic event unfold from the beach were Paul’s wife, Sue, their 15-year-old daughter Sophie and 12-year-old son Zac.

Relatives and friends were a great support during the following days, but soon after the funeral, and still, in a state of profound grief, Sue had to assess the state of the family finances. Until that point in time, she was unaware they were amongst the 95% of Australian families that did not have adequate levels of life insurance.

Back in the days of “normal” interest rates the simple answer to the question “what do I do with any surplus savings?” was “pay off debt”. That’s still a sound strategy for anyone paying high rates of interest on credit cards or personal loans.

But if your only debt is your mortgage, and if mortgage interest rates are at the lowest they’ve ever been, does paying it off more quickly provide a good bang for your buck? And if not, what are the alternatives?

The world is constantly dangling temptations before our eyes, and it’s never been easier to buy stuff, even if we don’t have the money. The upshot is that we are all susceptible to making some basic financial errors. Individually, these mistakes can be small. Added together, they can really hold us back from financial success.

If you rely on your investments for income, an important aspect of managing your portfolio is cash flow. Correctly structured cash flow is critical, so let’s have a look at what you might need to think about.

Do you sometimes lie awake at night wondering what effect the latest share market "correction" or property "boom" or “bust” is having on your investments? Understanding the differences between the various investment assets will help you enjoy better sleep patterns knowing that a diversified portfolio can be a good way to manage investment risk.