Category: FP – Managing Money

The right times for financial advice

The right times for financial advice COVID-19 has created uncertainty everywhere and impacted not just our health but our wealth too. From millennials to retirees, we’ve had to review our finances and adapt to the changing environment. We’ve seen volatile share markets, slashed dividends on bank stocks, record-low interest rates and sectors like airlines, tourism and traditional retail struggling to survive. On the other hand, online shopping and e-commerce have surged, and more people are …

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The three key habits of the financially secure

Three key habits of the financially secure Financial wellness describes how we evaluate our finances and cope with any related stress. It can be a significant factor that affects our overall psychological wellbeing. AMP’s recent financial wellness research found three financial habits that people who are financially secure have in common: They save money regularly They pay off their credit card debt They avoid using layby and buy now, pay later (BNPL) services. We explore each of …

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Create an 8-week Christmas savings plan

  Create an 8-week Christmas savings plan The sooner you start saving for Christmas, the better. But you can do it in just eight weeks – even if you have a tight budget in the lead-up to this year’s festive season. Here’s how to develop a plan to save money and reach your holiday goals. Fairy lights twinkling, seafood on the barbie, gifts being wrapped and Michael Bublé crooning in the background – Christmas can …

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Financial wellness in 2020 – how does yours compare?

Financial wellness in 2020 – how does yours compare? Financial wellness is how you feel about your money. It can affect your overall wellbeing and other areas of your life, such as work and family. So, while money isn’t the be-all and end-all, how you feel about it is pretty important. Since 2014, AMP has been commissioning research1 into the financial wellbeing of Australians and has developed the Financial Wellness Index. It measures a person’s satisfaction …

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How can I make my retirement dream a reality?

How can I make my retirement dream a reality? What does your retirement dream look like – spending time on your hobbies? Seeing the grandkids more often? Maybe pursuing a passion, or travelling? According to AMP financial adviser John Dani, the people who are most content and happy in retirement all have this one thing in common – a well-defined purpose for their golden years. Mr Dani’s worked with hundreds of people over the last …

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Aussies saving for a rainy day instead of a holiday

Aussies saving for a rainy day instead of a holiday Not many people can say they’ve been unaffected by COVID-19. Whether you’ve lost work, had hours reduced or been fortunate to maintain employment, COVID has been a wake-up call for how we manage our money and set financial goals. Research1 by AMP shows that the majority of us now believe it’s more important than ever to plan for a secure financial future. For the first time …

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6 steps to building good financial habits

6 steps to building good financial habits How financially secure do you feel? Recent research1 into Australians’ financial wellness – which is a person’s satisfaction with their current and future financial situation – revealed that people with good financial habits feel more financially secure. It sounds like a no-brainer. But adopting good financial habits isn’t always as easy as it sounds. Otherwise, we’d all be doing it already. With the impact of COVID-19 still being felt, …

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How to identify (and beat) your spending triggers

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 …

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Tax offsets for low and middle income earners

Tax offsets for low and middle income earners What you need to know about low and middle income tax offsets Currently, there are two tax offsets for low and middle income earners, which could see you pay less in tax, and you might be eligible for both. Paying tax is something most of us are familiar with, but probably something very few of us are excited about. For many low and middle income earners however, …

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How to budget for your social life in retirement

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, …

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