Getting cash flow under control for retirement | Money & Life

Getting cash flow under control for retirement When you compare your current lifestyle, expenses and savings with what you’re planning for in retirement, does it all add up? Find out why it’s important to balance your cash flow now with the super savings you’re going to need in retirement. Living from pay cheque to pay cheque is something that many Australians are used to doing. In fact, based on levels of personal debt, quite a …

Boost savings with compound interest

Boost savings with compound interest If your goal is to save for the future, or perhaps start putting away for your children’s education – then unless you plan on putting your savings under your mattress, the sooner you start the better. That’s because you could be missing out on earning compound interest along the way that could make a stark difference to the overall amount you save. The difference between simple interest and compound interest …

Making the most of record low interest rates

Making the most of record low interest rates The Reserve Bank of Australia (RBA) took the cash rate to a record low of 1% in July, bringing mortgage rates to their lowest level in more than half a century. However, the low cash rate also means your money in the bank could be earning less interest. Why did the RBA cut rates? Rate cuts are a way for the RBA to help stimulate the economy. …

Our Top 10 lifestyle costs

Our Top 10 lifestyle costs Six out of the top 10 categories relate to just two things. Can you guess what they are, and could you be cutting back? As a nation, Aussies aged 18 and over spent approximately $145 billion on lifestyle costs over a 12-month period, with the average spend per person around $7,800, according to research1. While clothing and footwear took out the number one spot by a country mile on the …

9 money mistakes to avoid in retirement

9 money mistakes to avoid in retirement How to keep your finances on track once you leave the workforce When you’ve worked hard all your life to build up your nest egg, the last thing you want to do is fritter it away too quickly. In this article, we look at the common money mistakes people in retirement make, and how you can do your best to avoid them. 1. Not taking control of your …

How to save money

How to save money Saving money doesn’t just happen, but these steps could help you to reach your saving goals sooner. How Australians save Research has found that almost three quarters of Australians surveyed save by putting spare money into a savings account, whether they do this themselves or via an automatic transfer. Other popular savings methods include keeping savings money in an account they can’t touch, building up extra savings in their transaction account …

The wallet challenge – savings and budget checklist

The wallet challenge – savings and budget checklist Budgeting and savings might sound very basic, but many people find it difficult to get these fundamentals right, or don’t have these in place at all. Here are some tips to help you get started, and on the right track to building your personal wealth. Have a plan If you are planning to go anywhere, you will need to know your starting point and destination, otherwise you’ll just …

Why an emergency fund should be your first investment (Video)

Why an emergency fund should be your first investment (Video)  Saving money for a rainy day might not seem like the best start to investing for the future, but it’s actually a very important part of any plan to grow your wealth. Find out how much you need and how it could save you from unwelcome debt and stress in the future. Setup a Financial Safety Net. Online source: Produced by The Financial Financial …

Get social to boost your savings

Get social to boost your savings Want to get on the fast-track to your financial goals? Partner with a money buddy or join a support group and you could find yourself saving more and getting closer to your goals. When you’re making a firm commitment to boosting your savings, getting help doesn’t have to mean cutting up your credit card or keeping away from shopping malls. With support and encouragement from your financial allies, you could …

The 5 big bills you need to save for (Video)

The 5 big bills you need to save for (Video)  Some major expenses just can’t be avoided. If you can build up a savings buffer for these 5 big bills, you’re less likely to suffer from financial shockwaves, a big credit card balance and hardship when it’s time to pay up. If you’d like to get in the habit of saving more for those big bills, get some tips with our savings and budget checklist or team …