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 …
How to budget for your social life in retirement Have you considered what’s on the agenda, such as how often you see yourself eating out and whether you want to travel domestically or afar? If you’re in or approaching retirement, you may be prioritising things such as living costs, utility bills, health care and even potentially helping the kids out with their future financial goals. With many Australians looking at a retirement (which in reality, …
Give yourself a new financial year check-up Start the new financial year in the best way possible by giving your finances the once-over. Financial year 2019-20 is now behind us and there’s nothing like closing a chapter to inspire thoughts of a fresh start. But global challenges persist: Australia is officially in a recession while also bracing for a post-JobKeeper economy in September. While it’s impossible to anticipate future changes to the global economy, there’s …
5 ways to help prepare your finances for a recession If you think storms may lie ahead, it makes sense to prepare your craft for choppy waters. With Australia facing continued economic uncertainty, it may be time to take stock of your finances and get in the right shape. First the good news. The Australian economy fared better in the first quarter of 2020 than many other countries¹. To the end of March, the economy …
Essential checklist for the end of financial year The end of financial year on 30 June is a good time to take stock and get your finances in order. This is an end of financial year like no other. Being prepared, reviewing your super contributions and submitting your return on time are good policies every year, but the shadow of COVID-19 (coronavirus) means many of us face unexpected pressures in a changing economic environment. Many …
Staying afloat through the crisis If you had asked me when I wrote my last piece for Financy what I would be writing about this quarter, I could never, in a million years, have predicted that it would be about a global pandemic. We’re dealing with a health crisis that no one in our lifetime has experienced, which is having an impact on global and domestic economies that no one could have forecast. Entire industries – tourism, …
When it comes to teaching kids about healthy money habits, there are few lessons more important than being able to defer gratification. By helping kids learn to put off what they want right now and save instead, they’ll be better equipped with the skills to be financially secure adults. Deferring gratification While it is possible to help kids have a money-saving mindset by teaching them to delay gratification, it’s a lesson that can take time …
Money Saving Mindset – How to encourage a money-saving mindset in your kids The right time to teach kids about saving money might be sooner than you think. The surprising truth is, kids form their money habits very early on. Behaviour experts at Cambridge University1 found children’s money habits are formed by the age of 7. With that in mind, it’s never too early to start teaching your kids how to make good decisions about …
Teaching your kids to spend wisely There are many reasons we fall into the trap of overspending. One reason is we get bombarded with very effective advertising on social media where data scientists and algorithms seem to know what we will be tempted by before we do. Perhaps we are emotional spenders and buy things because it feels good. Maybe we’re trying to keep up with the Joneses, or perhaps we lose track of how …
How to save money at university Back at uni? Do away with the poor student clichés with these money making and money saving tips Students aren’t exactly known for rolling in cash, but by following these simple tips to start saving money at university you can make the most of what you’ve got. Get a part-time job This might seem obvious, but part-time jobs aren’t what they used to be. Sure, you could take on …
