The 2013 Federal Election is right around the corner this Saturday. You may be on the cusp of making your decision on who you should vote for. I know I am.

Here is a summary of 4 ways which the election outcome can affect your wallet.

Your Job

If you’re a public sector employee, note that the Coalition is looking to cut around 12,000 jobs. They are also looking to make cuts in a number of industries including auto, retail and hospitality. Depending on what industry you’re in, this could mean you get paid less or go without a gig altogether.

Your Tax Bill

While Rudd keeps on track with a floating carbon price, the Coalition is determined to get rid of the tax. The net effect here is that if the tax is cut, the average Australian household is around $350 better off – savings on the annual electricity bill.

Your Kids

A number of policies affect this. Abbott has promised six-months of full salary for new parents. A benefit package that’s more in line with what’s offered in countries like France or Scandinavia. Labor meanwhile has committed to putting $15 billion into the school system over six years, as well as maintaining the Schoolkids bonus of around $820 a year – which the Coalition look to cut.

Your Investments

Research suggests that uncertainty around elections time does create short-term investment opportunities. Onthehouse.com.au recently found that by monitoring property price movements 3 months leading up to the election, you can predict movements post election. In the sharemarket meanwhile, short term uncertainty may also present opportunities to buy.

But as for who I’ll vote for. I can truly say I’m still undecided.

So which way will you vote?

Bosco