Is this your year to retire? If you’ve got retirement in your sights this year, we’ve got the ultimate checklist to help you retire in style. Discover how to prepare for this exciting new chapter in your life, safe in the knowledge that your finances will be taking care of you. 1. Explore your goals and make plans Enjoying retirement to the full isn’t just a matter of money. It’s just as important to have …
The blended family balancing act When one family becomes two – or more – financial stress can multiply too. Get expert tips from CERTIFIED FINANCIAL PLANNER® professional Fran Hughes about how blended families can work together on a straightforward and fair approach to managing money. Whatever your marital status, your 40s can be a challenging time financially. Growing kids are costing more, especially if you have to factor in school fees. And on the other side of the equation, …
Accountant or Planner – which do I need? When it comes to sorting out money matters, where do you go to seek professional help? Can an accountant take care of your finances or should you be speaking to a financial planner? Discover more about the difference between these two support services and how you can benefit from both. Seeing an accountant is something that’s routine for most Australians. After all, lodging a tax return is …
Why buying too many items on sale could be costing you a mint Are you rushing out to buy things you need, or could really be going without? We’ve all done it—seen something on sale (particularly over the Christmas/New Year trading period) and without a second thought, jumped to the conclusion—great discount, I must have it straight away. If it’s an item that has been on your list for a while, you might save some …
Young and broke? There’s another way When you’re young it can seem like you’ll always be living from paycheck to paycheck with nothing left for the good things in life. According to guest contributor, James Trethewie Financial Planner AFP®, making a few changes to your money habits and attitude can make all the difference to your lifestyle, now and in the future. 1. Do away with debts If you’re not great at sticking to a …
How Australians save money Of those who make a savings resolution, 85% have a specific target in mind.(1) Average savings target is $11,234(1). Top 3 savings goals(1) 53% holiday 46% rainy day fund 40% buy or renovate a home. Other top money goals(2) Build wealth for retirement Pay off debts Set up a budget Get debts under control Invest in shares, bonds or commodities Buy an investment property. Top reasons people break financial resolutions(1) …
Personal debt – maybe the mortgage isn’t so bad Household debt in Australia is high but more of us are taking a sensible approach to debt management. Nationally, our household debt ratio is nudging 200%. On paper it means we owe twice as much in debt as we bring home in our pay packets each year. It sounds like an alarming figure but as 74% of all households have some level of debt, the reality …
What’s debt consolidation and do I need it? Stuck with a post-Christmas spending hangover? Debt consolidation could be a solution, but tread carefully: there are no easy fixes. Debt consolidation involves taking all your monthly debts – for example, from your credit cards, store cards, mortgage, car and other loans and so on – and rolling them into a single low interest rate loan. If you are rolling all your debt, including high interest rate …
Share financial goals to make your relationship stronger When money can be such a big source of stress and conflict in relationships, it makes sense to get on the same page with finances. Our guest contributor, James Trethewie Financial Planner AFP®offers some important advice to help couples succeed in sharing and achieving their financial goals. So you’re convinced that love conquers all and money matters can’t possibly come between you and your partner. Some …
Australians reveal their priority goals Most Australians indicate their biggest life goal is a financial one, but many admit failing to plan is a roadblock. Increased household debt, record-high property prices and the aftermath of the global financial crisis have not impeded Australians’ belief in their ability to achieve their goals. In fact, an August 2016 research paper by The Financial Planning Association of Australia and McCrindle, showed four in five Australians were confident they could turn …
