Millennials and money: what does the future hold? | Money & Life

Millennials and money: what does the future hold? With the rising cost of housing, an aging population, climate change and now a pandemic falling squarely on the shoulders of Australia’s millennials, how is this generation faring financially? The first millennials (born between 1981 and 1996) are turning 40 this year. Still, despite more than twenty years in the workforce, it seems their financial wellbeing isn’t guaranteed. A Commonwealth Bank study has found that almost two thirds (61 …

The never-ending coronavirus pandemic – why snap lockdowns in Australia make sense until herd immunity is reached | AMP Capital

The never-ending coronavirus pandemic – why snap lockdowns in Australia make sense until herd immunity is reached Key points Snap lockdowns in Sydney, Perth and Queensland are likely to cost the economy $2.5bn, but like previous snap lockdowns are unlikely to derail the recovery. Australia has little choice but to continue with snap lockdowns until increased vaccination sets up herd immunity from around early 2022. The latest lockdowns and ongoing coronavirus threat will keep the …

What does it really cost to raise kids? | Money & Life

What does it really cost to raise kids? We often hear that raising kids is expensive, but just how much will it cost you over the first five, 10 or 20 years? Here’s a closer look at the costs of each stage of life. If you’re thinking about having kids, or have already taken the plunge, you might be wondering how much you’ll need to budget for their welfare. There are a few different answers …

Budgeting for baby: What you need to know

Budgeting for baby: What you need to know Having a baby is an exciting and life changing experience. But what about the cost? There are many hidden and unexpected expenses that go along with your new bundle of joy. Follow our handy guide to planning your finances, so you can avoid any money worries once baby arrives. No two ways about it, having a baby in Australia isn’t cheap. It also comes at a time …

The real cost of retirement

The real cost of retirement When you’re looking at saving and planning for retirement, it’s important to know how much you can expect to be spending. The latest retirement standard figures and other data sources can give you an idea of the cost of retirement, but what else do you need to take into account to ensure your financial wellbeing? Running the numbers – the retirement standard Since June 2006, the Association of Superannuation Funds of …

Borrowing money: When and how to do it right

Borrowing money: When and how to do it right We all know getting into debt isn’t really desirable. So are there times when borrowing is justified? And what’s the best approach to keeping repayments within reasonable limits? We spoke to CFP® Sandy Hopps  to get expert advice on smart ways to borrow money. Recent reports and statistics show we’re no strangers to debt in Australia. According to OECD data from 2015, Australia is 4th in the world …

5 tips to save money at university

5 tips to save money at university Back at uni? Do away with the poor student clichés with these money making and money saving tips. Students aren’t exactly known for rolling in cash, but by following these simple tips to save money at university you can make the most of what you’ve got. 1. Get a part-time job This might seem obvious, but part-time jobs aren’t what they used to be. Sure, you could take on regular …

Putting yourself first when planning for retirement

Putting yourself first when planning for retirement You know when you’re on a plane about to take off and the cabin crew is demonstrating the safety procedures? They always say affix your own oxygen mask before trying to help anybody else attach theirs – children included. Research from the National Seniors Survey for 2017 has found that it is no longer a priority for many older Australians to leave an inheritance for their kids. With growing concerns …

What is the cost of raising a child?

What is the cost of raising a child? We take a look at the costs that come with raising kids through the different stages of their life. Laughter, joy and fun are some of the words associated with having kids, but there’s another word that often gets overlooked – expensive. Whether you’re just starting to think about having a family, have a baby on the way, or are already in the trenches with one – …

The inconvenient cost of convenience apps

The inconvenient cost of convenience apps In today’s digital world, there’s a mobile phone app for just about everything. It can make life easier, but convenience can come at a cost. Smartphones have wrought remarkable changes to our way of life in just a few short years. Need a ride somewhere? There’s an app for that. Too tired to cook dinner? There’s an app to supply takeaways direct to your door. Need cash in a …