Australia’s Achilles’ heel – high household debt and rising interest rates…it’s not as bad as it looks, but it’s still an issue Key points Australian household debt has risen dramatically since the 1980s and is high compared to other countries. The rise is not as bad as it looks because it’s been matched by rising wealth and debt servicing problems are low. However, this will likely change as interest rates rise further & if …
Market Update 8 October Investment markets & key developments Global shares mostly rose over the last week as the US debt ceiling was pushed out to December and there was some easing in concerns regarding the European energy crunch. The positive global lead saw Australian shares rebound led by energy, utility, financial and material shares. Consistent with a bit of “risk on” along with still rising inflation concerns bond yields continued to rise as did oil, …
Can you use your pension to retire debt free? Perhaps you’re considering options for how to reduce your debt before retiring. Well, one option may be to use your pension account, but there are some important things you should consider first. It’s no secret that Australia, like many countries, has an ageing population. According to the Australian Bureau of Statistics, 16.3% of us are over the age of 651, but that number is expected to grow …
How to enjoy a credit-free COVID Christmas! After the year we’ve had, Australians may be more tempted to rely on debt to meet their holiday obligations. But there are other ways to get through the festive season without breaking the bank… At the best of times, Christmas can put a pretty severe strain on our hip pockets. And let’s face it, this isn’t the best of times. You don’t have to have lived through Melbourne’s …
Some ways to use your tax refund for a stronger financial future Not sure what to do with your tax refund? Strategic financial decisions for your tax return begin with a strong plan. Whether you breeze through tax time or dread the extra admin, receiving a tax refund makes the effort worthwhile. For many of us, getting a financial boost will be even more welcome this year, and you might be looking around for the …
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 Sandy Hopps CFP® from Strategic Planners 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 – behind Denmark, the …
Helping grown-up children with their finances It’s only natural to want to help your kids with big ticket items to give them a good start in life—particularly in an era when tuition fees and house prices make higher education and owning a home less affordable than in previous generations. But it can be difficult to know when to start turning off the tap. If you have an adult child who isn’t very good with money, …
How to save money Saving money doesn’t just happen, but these steps could help you to reach your saving goals sooner. How Australians save Research has found that almost three quarters of Australians surveyed save by putting spare money into a savings account, whether they do this themselves or via an automatic transfer. Other popular savings methods include keeping savings money in an account they can’t touch, building up extra savings in their transaction account …
Under 40 and broke: Why young people need financial advice more than ever With increasing debt and falling home ownership among the under 40s, their financial prospects are less than rosy. If this trend is set to continue, young people are going to be needing financial advice more than ever to help them make the best choices for a secure future. There’s been a lot of talk in recent years about how much better off …
