6 ways to help reduce your debts before you retire As your working life draws to a close, your social life and recreational activities don’t have to. If you’re anxious about money still owing, here are some helpful hints. Ahh retirement! You may have been dreaming about it for decades. You see yourself hanging up the work boots, putting away the laptop, swinging in a hammock by the ocean somewhere (the Croatian coast sounds nice …
Market Update 25 September 2020 Investment markets and key developments over the past week Global share markets fell again over the last week on concerns about rising coronavirus cases, tightening social distancing restrictions in Europe and the lack of progress towards additional fiscal stimulus in the US. Despite a rally late in the week, US shares fell 0.6%, eurozone shares lost 4.2%, Japanese shares fell 0.7% and Chinese shares fell 3.5%. Australian shares however managed a …
Australia’s “eye popping” budget deficit and public debt blow out – can it be paid off? Does it matter? Key points The Australian Federal budget next month will likely see a further blow out in the budget deficit due to the ongoing hit to tax revenue & more stimulus. We expect an “eye popping” 2020-21 deficit of around $230bn. Stepped up economic reforms will help grow the economy but are unlikely to drive a …
Market Update 18 September 2020 Investment markets and key developments over the past week Share markets mostly rose slightly over the last week after two weeks of falls helped by reasonable economic data, anticipation of Fed dovishness, positive vaccine news and M&A activity. However, some of the gains were given up later in the week as tech stocks came under renewed pressure and the Fed did less than some had hoped. Despite the volatility Australian shares …
How to identify (and beat) your spending triggers Are you buying more to perk yourself up? You aren’t alone. Since the start of COVID, there’s been an increase in online shopping1. But, if you want to get a handle on your add-to-cart habit, understanding why you spend money, can help bring your purchasing patterns in line with your financial goals. We often talk about money in terms of dollars and cents, but the subject can …
Tax offsets for low and middle income earners What you need to know about low and middle income tax offsets Currently, there are two tax offsets for low and middle income earners, which could see you pay less in tax, and you might be eligible for both. Paying tax is something most of us are familiar with, but probably something very few of us are excited about. For many low and middle income earners however, …
Twenty-three charities have shared in $2 million in AMP Foundation COVID-19 Community Boost grants to help them support Australians through these challenging times. Learn more: https://www.amp.com.au/COVIDgrants Original Author: Produced by AMP and published on 17/09/2020 Source
What do July’s strong building approval numbers say about Australia’s growth prospects? Building approvals in Australia surged by 12% in July, up 6.3% compared to a year ago. This was a much stronger result than consensus expectations of a fall in the order of 2%, and follows a run of better than anticipated numbers since April’s low point. As an important leading indicator of national construction activity, and with implications for the lending sector as …
Market Update 11 September 2020 Investment markets and key developments over the past week The equity market correction that started last week, driven by falls in tech stocks, has continued, and has now broadened out to other sectors. US shares are down by 2.6% and the tech-heavy NASDAQ is down by a larger 4% over the week. But, all sectors in the S&P500 fell over the week and energy was down heavily as the oil …
What to do next if you’re facing redundancy Uncertainty around COVID-19 might be increasing your stress levels about losing your job, but here are five ways to soften the financial blow. In April, Australia hit its highest unemployment rate in five years1, and with the Federal Treasurer expecting an unemployment rate of around 10% by the end of the year2, many Aussies may be feeling a little uneasy about their future job prospects. Which sectors …
