Be the boss of your cash If, like many others, your life and money feels a bit like a juggling act – paying bills here and there… and “Uh oh, forgot about the council rates, guess that one’s going on the credit card”. You may be thinking that having some extra cash would solve a lot of your problems. Well, often changing how you spend the money you have now, can help you start to …
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 …
Should you lend money to family? What you should consider before handing over your hard earned savings You’re probably fairly used to helping your family out with a little extra cash here and there. Whether it’s pocket money for doing chores, or money to pay phone bills, go see a movie or buy clothes, for example. But what happens when they put their hands out for help to buy the big ticket items? They might …
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 …
Money can buy you happiness, you’re just spending it wrong This is the view of Dr Michael Norton from Harvard Business School. Michael’s research indicates that money can indeed make you happy if you use it to buy experiences, time, or invest in others. Buying experiences – when we buy experiences, we don’t just buy the duration of that experience. Michael’s team’s research found that we’re happiest the day before leaving for a holiday–the anticipation is …
Managing your money when you move in together Living together is a big step. You may be merging your lives more closely, but should you merge your finances? So you’ve taken the leap and decided to move in together. It’s an exciting time which can take your relationship to a new level, but it can also add new pressures as you address practical matters such as how you divide the chores and the costs. Set …
Planning is the key to making it financially If you’ve paid off your home, have a healthy stash of super and take an overseas holiday each year, you’ve made it financially. That’s the view of many Australians according to recent research. A study by comparison site Finder found paying off the mortgage is the financial milestone 74% of Australians value most. Having enough in super to retire comfortably comes a close second for 59% of …
What to do when you come into money Whether you’re faced with an inheritance, redundancy package or winning lottery ticket, it’s wise to consider your financial situation and future goals. For most of us, a financial windfall isn’t something that comes around very often. And while the extra cash is welcome, money matters may be the last thing on your mind if you’re also dealing with the emotions of losing a loved one or being …
Money can buy you happiness – if you spend it right At AMP’s recent Amplify program, high-profile Harvard Business professor and behavioural finance expert, Michael Norton, asked the crowded room a question. If you found $20 in the street today, how would you spend it to make yourself happiest? Norton, whose TED Talk on money and happiness has attracted almost 3.5 million views, followed up with another question: Think of the last $20 you had …
