5 common financial mistakes to avoid during a crisis | Money & Life

5 common financial mistakes to avoid during a crisis The economic impact of the COVID-19 pandemic is playing havoc with finances for many households. Fran Hughes CFP®, Head of Financial Solutions at Nexia Perth offers five ways to limit the impact at this challenging time. With Australia recording a spike in the unemployment rate of 6.2% due to the coronavirus, it’s only natural that households feel under enormous financial pressure and face uncertainty about their future. Perhaps …

Essential checklist for the end of financial year

Essential checklist for the end of financial year The end of financial year on 30 June is a good time to take stock and get your finances in order. This is an end of financial year like no other. Being prepared, reviewing your super contributions and submitting your return on time are good policies every year, but the shadow of COVID-19 (coronavirus) means many of us face unexpected pressures in a changing economic environment. Many …

5 days to get your finances in order

5 days to get your finances in order Our New Year challenge Too time poor for resolutions? Try our challenge instead New Year’s resolutions are such a drag, right? Whether it’s fitness, family or finances, the best laid plans rarely last beyond the first week of January. Life has a habit of getting in the way, especially these days with so many demands on your time. We get it. Things got a whole lot more …

Helping grown-up children with their finances

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, …

Take control of your finances now for the new financial year.

Take control of your finances now for the new financial year. If you set yourself money goals at the start of 2019, the upcoming new financial year is a great time to check if you’re on track. And if you didn’t set any goals – or if you have strayed off track – this is the perfect time to get organised, write a checklist and stick with it! Don’t wait until 1 July to start. …

How do Aussies feel about their finances?

How do Aussies feel about their finances? Are you someone who feels great about your financial future? And do those positive feelings come from having a solid financial plan? Find out more about Aussie attitudes to what the future holds for their finances, their hopes and fears and what’s holding them back. A CERTIFIED FINANCIAL PLANNER® professional can offer valuable advice on saving and investing for your lifestyle and financial goals, for now and into the future. …

How to max your tax refund

How to max your tax refund Expecting a refund from your 2017/18 tax return? 77 out of 100 Aussies are likely to get one and many could already have plans to spend it. If you’re one of them, find out how to treat yourself right with your windfall and be better off for good. For most of us, tax refunds rarely come as a complete surprise. In fact, sometimes we might even be using the …

Five ways money can wreck your relationship

Five ways money can wreck your relationship Although women are often portrayed in television and film as “shopaholics” – for example spending thousands of dollars on shoes – in reality it is more likely for women in relationships to be the conservatives and the men the risk takers, says Kane Jiang, managing director at AA Financial Planning in Perth. “From a financial planner’s perspective,” Jiang says that couples often argue due to their “different risk …

Troubleshooting family finances

Troubleshooting family finances Are your family finances a battleground where good and bad habits collide?  Find out how to support your family towards better financial wellbeing without risking your relationship. Sometimes money can really drive a wedge between family members. When you have a parent, sibling, child or maybe even a partner who seems determined to sabotage their finances, it can be difficult to know how to help or where to draw the line with …

Get your finances ready to start a family

Get your finances ready to start a family Preparing for parenthood is an exciting time, but don’t let the cots and cuddly toys distract you. Your finances (and everything else) are about to change in a big way, so use these pre-baby days to plan ahead. Here are the key financial tasks to tick off before, and after, baby arrives. Before the baby: 1. Understand your health insurance Before you even start trying to conceive, …