Why does insurance matter? The importance of insurance If you’ve ever wondered about the value of insurance, find out about AMP’s approach to claims and what we paid in 2017. If you pay your insurance premiums and never get anything in return – other than the peace of mind of knowing you’re protected – you’re one of the lucky ones, blessed by good health and wellbeing. But for those that find themselves having to make …
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 …
Beware of money envy We might think that having more money will solve our problems. But by spending less time and energy sizing up our situation against how others live, we can get clear on the goals that matter and take steps towards a better financial future. Stealing happiness According to Theodore Roosevelt, “comparison is the thief of joy.” And although he served the USA as president at a time when movies had only just …
What are “returns”? You’ve heard people brag about the great “returns” they may be earning, but there is more than meets the eye when it comes to talking about returns. Just as the word suggests, returns are what comes back to you from your investments or savings. So if you’ve put money in the bank, your returns will include the interest you’ve earned over and above the money you invested. Total returns If you have successfully …
Can I put money into super when I’m 65 or over? If it’s a voluntary contribution, you’ll need to have worked for at least 40 hours within a 30-day period under work test requirements. If you’re 65 or over, you can continue to build your superannuation with compulsory employer contributions (such as Super Guarantee contributions your employer pays where you are eligible). However, if you’re making voluntary contributions, which you may do through salary sacrifice (which is …
5 tips to save money at university Back at uni? Do away with the poor student clichés with these money making and money saving tips. Students aren’t exactly known for rolling in cash, but by following these simple tips to save money at university you can make the most of what you’ve got. 1. Get a part-time job This might seem obvious, but part-time jobs aren’t what they used to be. Sure, you could take on regular …
7 little ways to be better with money Discover these 7 essential ways to change your money mindset and behaviour for good and feel richer for decades to come. 1. Develop your own value One of the most important investments you can make is in yourself. Whether that’s reading up on something that interests you, improving your skills and education, getting expert support from a coach or mentor or looking after your health and well-being, …
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) …
