FP – Credit & Finance

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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What are the benefits of a split home loan?

What are the benefits of a split home loan? If you can’t decide between a fixed or variable rate, a split rate home loan could provide the best of both worlds. If you’re about to take out a home loan and are looking for some protection against interest rate rises, a fixed rate home loan may sound like the loan for you. On the other hand, if you don’t want to miss out on the benefits of …

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Bitcoin – is it really for you?

Bitcoin – is it really for you? If I could sum up the contents of my junk emails over the last 12 months in a single word it would be: Bitcoin. I can’t tell you how many unsolicited invitations I’ve received to start trading bitcoin – you may have experienced the same thing. This alone is a concern but when heavy hitters like the International Monetary Fund (IMF) start calling out the risks of bitcoin, …

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Are Australian households more vulnerable than we think?

Are Australian households more vulnerable than we think? A lot has been said and written about Australia’s household debt levels and possible implications on the banking system and the economy more broadly. But could Australian households be even more constrained than the headline numbers are suggesting? Michele Bullock, the Reserve Bank of Australia’s Assistant Governor, highlights the stresses households will likely be facing well before any rise official interest rate materialises in this speech. Bullock points …

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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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What high household debt means for investors

What high household debt means for investors “High house-hold debt is Australia’s Achilles heel,” says AMP Capital Head of Investment Strategy and Economics and Chief Economist, Shane Oliver. “I’ve been thinking this for many years now and yet it seems to keep going higher.” Latest data from the Australian Bureau of Statistics puts total household liabilities at $2.466 trillion, or 199.7 percent of disposable income, putting it among the highest in the world. Australians have …

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Digital payment options could see you spend more this Christmas

Digital payment options could see you spend more this Christmas With the festive season just weeks away, Australians are gearing up for the annual peak spending period, and the growth of digital payment options could be widening the gap between what we regard as our spending limit and the balance of our bank account. The disconnect between cards and cash Credit cards make spending (and overspending) very easy, and a new breed of “digital wallets” …

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12 ways to enjoy summer without spending a fortune

12 ways to enjoy summer without spending a fortune If you’re wondering how you’ll make ends meet this silly season, check out these tips on how to spend, without spending every cent. Summer in Australia can often be one of the busiest times of year with end-of-year work parties, Christmas, family gatherings, mini holiday breaks, not to mention New Year’s Eve and New Year’s Day. If you’ve been saving for something big or are just …

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Eight steps to improved cashflow… and lifestyle

Eight steps to improved cashflow… and lifestyle Imagine feeling on top of your finances. Knowing you’re in a position to enjoy your life today, while also saving for tomorrow. If that sounds good to you, you’re not alone. In a recent survey, 54% of Australians aged 55-64 strongly agreed they’d like that too.i Yet, many of us don’t feel like we’re in that position. Financial stress is actually so common that 24% of Australian …

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Helping your kids buy a home

Helping your kids buy a home Increasing house prices are good news for property owners but can be a bit of a hurdle for people trying to get into the market. If, like many of our clients, your goal is to help your children buy a home, there are a few ways you can help. Perhaps some of the tips below might give you an idea or two to discuss with your adviser. 1. Start …