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 …
7 ways to get your money working harder during COVID-19 If you’re fortunate enough not to have been affected financially by coronavirus, you might find you’re spending less and saving more The COVID-19 (coronavirus) outbreak has seen Australians rise to the challenge of a new way of life involving a lot less time spent outdoors and a lot more time spent at home. We’ve seen new concepts added to our daily vocabulary like social distancing, …
COVID-19 and the job market 29 May 2020 How COVID-19 is affecting the Australian employment market and what it means for your job The coronavirus outbreak has had a major impact on Australians’ livelihoods. Many working Australians have needed to adjust to a loss of income resulting from working from home, reduced working hours, and in some cases loss of employment as government restrictions have taken hold. Let’s look at the state of play in …
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 …
Women and the future of work A changing world of work holds old challenges and new opportunities for women The coronavirus (COVID-19) pandemic is affecting us all, but women have particular trends to consider. Women already face a number of financial challenges, including 28% less super at retirement¹. COVID-19 and the effect of policy responses may widen existing gender financial inequities. With women more likely to work part-time or casual, and to take time out …
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, …
How to avoid bill shock with bill-smoothing payments Sidestep the shock of unexpected bills by smoothing out payments and making regular, automated instalments that can be planned well in advance. Ever experience that sinking feeling when you’ve opened a bill that you can’t possibly afford to pay? The shock of receiving a big bill – or worse, a number of them arriving at the same time – can be extremely stressful. Thankfully, by setting up …
5 days to get your finances in order Our New Year challenge Too time poor for resolutions? Try our challenge instead New Year’s resolutions are such a drag, right? Whether it’s fitness, family or finances, the best laid plans rarely last beyond the first week of January. Life has a habit of getting in the way, especially these days with so many demands on your time. We get it. Things got a whole lot more …
Staying (Financially) well as the years go by Our financial priorities tend to change as we move through life The good news from AMP’s 2018 Financial Wellness Indexi is that only 7% of Australian retirees aged 65 or over report being stressed about money. So if you’re feeling the pinch earlier in life there is light at the end of the tunnel. Let’s take a closer look at how your financial wellness is likely to change …
7 Tips to improve your financial wellness What is financial wellness? How you feel, is your wellness. How you feel about your money is your financial wellness. This can be measured by the financial wellness index, which measures a person’s satisfaction with their current and future financial situation. Some days you might feel confident you can meet your needs within the boundaries of your current income, whereas other days you may feel like you don’t …
