Your 2025 Financial Health Check: What Every Woman Should Review This Year

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As the financial year draws to a close, it’s the perfect time to pause and take stock of your financial wellbeing. Whether you're building wealth, managing family finances, or preparing for retirement, a midyear financial health check helps you stay aligned with your goals and adapt to changing conditions. This year’s review is especially important, with updates to superannuation rules, insurance trends, and cost-of-living pressures shaping the financial landscape for women across Australia.

Super Contributions: Catch Up and Maximise

With concessional contribution caps holding steady at $30,000 for 2025, women with super balances under $500,000 can still take advantage of the carry-forward rule to make up for missed contributions from previous years. This is particularly helpful for those who’ve taken career breaks or worked part-time. Salary sacrificing or making personal deductible contributions before 30 June can reduce your taxable income while boosting your retirement savings. If you're over 55 and considering downsizing your home, the downsizer contribution scheme remains a valuable tool to top up super without affecting your contribution caps.

Insurance: Review Coverage and Gaps

Life changes — and so should your insurance. If you’ve changed jobs, had children, or taken on new financial responsibilities, it’s time to reassess your life, income protection, and total permanent disability (TPD) cover. Many women rely on default insurance through their super fund, but this may not be enough. Reviewing your policies ensures you’re covered for what matters most, and that premiums remain affordable in the current market

Emergency Fund: Rebuild Your Buffer

With inflation still impacting household budgets, having a robust emergency fund is more important than ever. Aim to set aside three to six months of essential expenses in a separate, accessible account. If you’ve dipped into your emergency savings recently — for medical costs, car repairs, or rising rent — make a plan to rebuild gradually. Even small, regular deposits can restore your financial buffer and reduce stress during unexpected events.

Debt: Tame Interest and Take Control

Interest rates remain elevated in 2025, making debt management a top priority. Review your credit cards, personal loans, and mortgage to identify opportunities for refinancing, consolidating, or accelerating repayments. Prioritise high-interest debt and consider setting automated payments to stay consistent. If you’re feeling overwhelmed, seek advice — there are strategies to ease the pressure and protect your credit score.

Estate Planning: Secure Your Legacy

Estate planning isn’t just for the wealthy — it’s for anyone who wants to protect their loved ones and ensure their wishes are respected. Review your will, enduring power of attorney, and beneficiary nominations (especially within your super). Life changes like divorce, remarriage, or new dependents should trigger an update. A well-structured estate plan offers peace of mind and prevents future complications.

How Prosper Financial Planning Supports You

At Prosper Financial Planning, we believe a financial health check isn’t about having everything perfectly in place — it’s about making progress. By reviewing these key areas, you’re taking control of your future, protecting what matters, and building confidence in your financial decisions. Whether you’re just starting out or refining your strategy, every step counts.

Let’s make 2025 the year you feel empowered, informed, and ready for whatever comes next.

Ready to Take the Next Step?

If you’re ready to turn reflection into action, book a complimentary consultation with Prosper Financial Planning. Let’s build a future that honours your strength, your story, and your financial goals.

References:

• OnePath – End of Financial Year 2025 Checklist

• SuperGuardian – EOFY Webinar Checklist 2025 (PDF)

• House of Wealth – EOFY Financial Checklist 2025

• Earnestis – 2025 Financial Year-End Checklist

• Cadre Capital – Pre-30 June Financial Planning Checklist