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 …
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 …
New year, new financial resolutions The dawn of a new year is the perfect time to hit reset and correct course when it comes to your money. You may have already given thought to some health-related wellness goals for 2018, but what about your financial wellness? AMP research has revealed that a quarter of Australian workers have difficulty in making ends meet, with the most common triggers for financial stress found to be bad debt, …
Money mistakes people make in their 50s and 60s Avoid these common money traps to make sure you have enough put aside for a comfortable retirement. When you’re in your 50s and 60s, you know you’ve worked long and hard for what you’ve achieved in life and probably have a fair idea of how you want to live in your future retirement. But it’s important not to become complacent and ignore the warning signs of …
5 ways Australians will use their tax return this year With nearly one in three people planning to save their tax return, have you considered what you might do with yours? This year more than 75% of Australians expect to receive a tax return, with a large portion of the population planning to use the money they receive to take the edge off their financial commitments.i We look at the most common ways people intend …
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 …
What’s your debt age now? The types of debt we have largely depends on our age and stage in life. For most of us, having debt in some form or another is an inescapable fact of life. And despite its reputation, debt is not necessarily a dirty word. If managed well, it can be a powerful tool to build wealth, and good debts, such as those used to invest in an asset which increases in …
Can refinancing my home loan save me money? By replacing your existing loan with a new one, you could take advantage of a better deal. Even if you secured a competitive package when you first took out your home loan, it’s worth reviewing each year1 to ensure the interest rates, fees and features continue to meet your needs. With interest rates also at an all-time low in Australia2, now may be an opportune time to …
How can we help take control of your Super choice Many Australians are now free to choose their own superannuation funds instead of automatically becoming members of their employer fund. This is known as super choice, or choice of fund. But what does it really mean for you and what difference does it make? Common questions to consider Some questions you may wish to consider include: What is a choice of fund? Am I …
