Self worth = net worth
How to build confidence and change your financial direction At the start of the year, many people reassess their finances in preparation for the year ahead. This inevitably involves a review of income sources. For many people, this is a bit of a sore spot as it can cause doubt or regret about career choices. […]
Australian growth resilient in tough times
‘Resilient’ is perhaps the best way to sum up Australia’s economic performance over the past 12 months. That was the word used by Standard and Poor’s director of sovereign ratings, Craig Michaels, when confirming Australia’s AAA credit rating in mid-June.Australia’s strong performance is even more remarkable in a year characterised by ongoing uncertainty and volatility […]
Understanding limited recourse borrowing arrangements
A self-managed superannuation fund (SMSF), generally speaking, is not able to borrow to acquire assets. The rationale is that superannuation is meant to be a relatively conservative investment vehicle, and borrowing can put the fund at risk An example of this risk at work was seen during the global financial crisis (GFC) through margin lending […]
Australia’s Christmas spending
Aussies planned to spend $1,079 on average over the holiday season (1). Average Christmas spending on gifts (1) NSW – $548 WA – $435 QLD – $408 SA – $405 VIC – $401 Avoid the Christmas debt hangover Join the Christmas budgeters (1) 57% set a budget 4 in 5 stuck to it How […]
6 ways to manage your Festive season finances
Around this same time each and every year, many Australians start to say to themselves “I will NOT go back to work after the Christmas break with silly season debt!” And yet, come 5 January when the majority of us return to work, here we are with the remnants of Christmas wrapping, a dried out […]
Over age 31? Lifetime Health cover loading info you need to know
Lifetime Health Cover (LHC) is a Federal Government initiative designed to encourage people to take out hospital insurance earlier in their life and to maintain their cover throughout. In summary, if you don’t have private health insurance by the 1 July following your 31st birthday, you will be penalised with an extra 2% loading on […]
Life Event: How much does a wedding cost?
It’s the biggest day of your life to-date, and it’s been months or even years in the making. Countless hours (or even days!) of planning, buying, meeting, choosing and celebrating, all lead up to that perfect day that is your wedding. Your wedding day can be as cheap or expensive as you want it to […]
Steps to financially survive losing your job.
Losing your job isn’t just about your career. It can have a far reaching effect on your bank balance, your health and your self esteem. There are so many considerations and thoughts that will be running through your head at this time. It is therefore imperative to compartmentalise each aspect and break down the future piece-by-piece. Your […]
New study confirms what we all secretly knew, some of us are washing money down the drain.
A new study has revealed what most of us already suspected, but didn’t want to admit; if we made the effort of reviewing our interest rates, utilities providers and bank fees, we could save hundreds (perhaps thousands) of dollars per year. The report, conducted by the Queensland University of Technology (QUT) on behalf of Heritage […]
Emergency money – how much and what should I do with it?
The hot water service blew up, the dog needed emergency surgery or you broke your wrist and can’t work for 8 weeks. These aren’t life changing financial emergencies, but they can certainly have an impact on your savings – or if you don’t have savings, create or add to your debt. How much should I […]