Debt – just how big a problem is it?

Debt – just how big a problem is it? Recent figures show personal debt levels in Australia are among the highest in the world. So does this mean we’re heading for a debt disaster? Or are we doing the right kind of borrowing to get ahead with finances? Find out what kind of debts can be a problem and how to keep borrowing within safe limits. Top five in the world for debt In Australia, …

Breaking the debt cycle: Tips for millennials

Breaking the debt cycle: Tips for millennials Research from James Walker-Powell CFP®, Principal at More4Life Financial Services shows millenials are having their lifestyle choices limited by debt. Find out more about how personal borrowing can hold you back and get guidance on how to keep your finances on track in your younger years. When borrowing becomes a problem As father to a daughter who left school recently, James takes both a professional and personal interest in the …

5 risks of going guarantor on your child’s home loan

5 risks of going guarantor on your child’s home loan If you’re going to balance the future of your own home or property on your child’s reliability to pay their mortgage, make sure you’re across the risks. The majority of Aussies take about 3.7 years to save for a deposit on a first home, with a third of the nation taking just over five years1. If you’ve got a kid who wants to get into …

How important is money to your wellbeing?

How important is money to your wellbeing? Having more money should make us happier right? According to a number of different research reports, feeling good about life comes from a feeling of control over your finances, rather than how much money you have. Get tips on how to change your ways to boost financial wellbeing. The wellbeing formula for Australians After spending 15 years exploring what contributes most to the happiness of our population, Australian …

Credit rating myths busted

Credit rating myths busted With the introduction of mandatory Comprehensive Credit Reporting for the big four banks from 1 July 2018, it’s more important than ever to know what’s going on with your credit score. Find out just what a credit score is all about and what to do if you run into problems with yours. What is a credit score? Also known as your credit rating, your credit score is based on a report …

5 financial hacks to set you up for life

5 financial hacks to set you up for life With life’s big financial milestones just around the corner getting off to a good start in your 20s and 30s will help set you up for financial freedom later in life. We asked senior financial adviser, Nga Vu, from Kearney Group, for some simple ways to manage your finances each step of the way. Getting married Q: Transitioning from ‘my’ money to ‘our’ money can be tricky. …

How close are we to a cashless society?

How close are we to a cashless society? With tap and go payments becoming ever more popular and the advent of instant transfers between domestic bank accounts, how much longer will we be using cash as a form of payment?  Find out more about when we can expect Australia to go completely cashless and what it means for us, as business owners and consumers. Got any cash on you? According to recent survey results produced …

Finding your disappearing dollars

Finding your disappearing dollars Do you earn a decent salary but still find it hard to live within your means or save? If your strategy is to save what is left in your bank account at the end of the month, you probably won’t have any savings at all. Invariably there is nothing left at the end of the month, so this is not really a strategy. We talk to two CERTIFIED FINANCIAL PLANNER® professionals about …

Five ways money can wreck your relationship

Five ways money can wreck your relationship Although women are often portrayed in television and film as “shopaholics” – for example spending thousands of dollars on shoes – in reality it is more likely for women in relationships to be the conservatives and the men the risk takers, says Kane Jiang, managing director at AA Financial Planning in Perth. “From a financial planner’s perspective,” Jiang says that couples often argue due to their “different risk …

First home buyers find success with advice and coaching

First home buyers find success with advice and coaching Most of the conversations I have had with clients about their adult children are about buying and paying off their first home. Getting into debt is relatively easy, but high home prices and the need to pay it off make the challenge of home ownership more difficult than a generation ago. This is especially true in Sydney where home prices are over 12 times average earnings …