FP – Budgeting

New legislation aims to benefit first home buyers and downsizers

New legislation aims to benefit first home buyers and downsizers Changes aimed at improving housing affordability have passed through parliament. See what the new rules could mean for you. Government proposals around improving housing affordability in Australia were passed through parliament on 7 December 2017.i As part of the changes, first home buyers will be given a tax concession through the ability to save for a home deposit inside super, while Australians aged 65 and …

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We tried a no-spend challenge – here’s what we learned

We tried a no-spend challenge – here’s what we learned What happened when three AMP employees set out with a grand ambition: to spend no money at all for a week. If you’re like most of us, you’d probably like to spend less money. But keeping track of where your money goes – and especially your spending on all of the little things – can be hard. One way to identify and tackle your spending …

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Handy hints to create a better budget for you

Handy hints to create a better budget for you Nearly two out of five Aussies believe budgeting is too much effort, but these quick tips could make it a simpler task. Around 75% of Aussies will be going into 2018 with no specified budget, according to a survey by AMP, which—reality check—is probably going to make achieving financial goals, whether it’s getting out of debt, going on that long-overdue holiday, or saving for something big, a little …

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Should you make your kids pay rent?

Should you make your kids pay rent? Either way, some form of agreement should be reached so that what everyone wants is considered, and it’s not a one-sided affair. When your kids grow up, at least enough to hold down a steady job, one question many parents and carers might ask themselves is, should I charge my kids board? Some people will tell you yes, some people will tell you no, but at the end …

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Australian men are spending more on looking good

Australian men are spending more on looking good Research shows men aren’t far behind women when it comes to what they fork out on appearances. Once upon a time, male grooming was generally limited to a shave and few slaps of aftershave, whereas today, bathroom sinks around Australia are accumulating more tubes, tubs and pump packs, with a growing number of blokes keen to put their ‘best face’ forward. If it’s an all-too-familiar scenario at …

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What you need to know about buy now, pay later services

What you need to know about buy now, pay later services Take your product home, pay for it within the specified timeframe, get charged 0% interest. What could go wrong? Branded the modern-day layby, ‘buy now, pay later’ services essentially offer the same thing, except you get the product up front—the outfit, the watch, even certain domestic flights within Australia. If you haven’t heard of buy now, pay later services, or are keen to know …

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The top 10 lifestyle costs draining Aussies of cash

The top 10 lifestyle costs draining Aussies of cash Six out of the top ten categories relate to just two things. Can you guess what they are, and could you be cutting back? As a nation, Australians aged 18 and over spent approximately $145 billion on lifestyle costs last year, with the average spend per person around $7,800, according to research by comparison site Mozo1. While clothing and footwear took out the number one spot …

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3 simple steps to create a budget

3 simple steps to create a budget Nearly two out of five Aussies believe budgeting is too much effort, but these quick tips could make it a simpler task. Around 75% of Aussies will be going into 2018 with no specified budget, according to a survey by AMP, which—reality check—is probably going to make achieving financial goals, whether it’s getting out of debt, going on that long-overdue holiday, or saving for something big, a little tricky. Despite …

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Love and money? It’s not about control

Love and money? It’s not about control With Valentine’s Day around the corner, it’s a good time to explore shared ideas, and how you manage money as a twosome. Our approach to managing household finances can make a big difference to the health of a relationship. Thankfully, the old line about “I earn the money. She spends it” no longer has relevance in modern relationships. Today’s lifestyles, housing commitments and our career ambitions mean that …

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The year that was and the year ahead – five questions to ask yourself

The year that was and the year ahead – five questions to ask yourself Reflecting on the year that was … 1. What did you spend your time on in 2017? We all have 24 hours in a day so how you spend those hours will show up in what you achieve. Reflecting on the activities you spend your time on can also be a good indication of where your passion and values lie. If …