12-month financial planning crucial amid rising inflation, expected rate increases.

The new financial year provides an opportunity to reassess personal finances and plan for the coming 12 months. Rising inflation and interest rates are expected to dominate the financial landscape, with the Reserve Bank indicating it will raise interest rates if inflation is not under control. Current inflation figures suggest that this is not the case, and markets now anticipate a 54% chance of a rate increase before September. It is crucial to prepare for potential rate rises and their effects on personal finances.