Managing your money What is a budget? A budget is a plan that works out how you will manage your income and expenses. Maintaining a budget is a powerful way to control your money. Do you need a budget? A budget allows you to see how much money is coming in and going out. It helps you ensure there is enough money to cover your expenses and is an effective way to make sure you …
Budgeting on a growing family Having children is a rite of passage that brings a mix of joy, fulfilment and anxiety when the financial realities of raising kids become apparent. Parents must make difficult decisions about housing, education and lifestyle to keep the family budget in the black and to give their kids the best start in life. The cost of raising children rose 50 per cent from 2007 to 2012, outpacing growth in …
Be clear on investment goals by Jeff Rogers Retirees concerned about cuts to the official cash rate need to clearly identify their investment goals to help clarify whether capital stability or income sustainability is of greater importance. In this article, we discuss how a well-managed portfolio of select corporate bonds, equities, property and infrastructure can deliver attractive and predictable income streams that can be expected to rise over time. Sustainable income in a low-rate environment …
New research shows one in three Australians think retirement is too far away to plan for. That’s a big mistake. Retirement rolls around faster than you think. Take it from me, the day when you’re ready to hang up your work boots is likely to roll around far more quickly than you anticipate, and it pays to be prepared. If you think time passes more quickly as you get older, you’re absolutely right. It turns out …
Gen Y investing in home and away Gen Y has been brandished a generation of non-savers but that is not the reality. Gen Y is saving but unlike earlier generations they are not necessarily saving for a home. Some of that move away from saving for a home comes down to the high price of property, particularly in the major cities. According to the Bank for International Settlements, Australian house prices are the second …
Resolutions for a wealthy future Shedding a few kilos and getting fit are popular New Year’s resolutions, but along with improving your health why not resolve to boost your wealth in 2016? The best way to do that is to have a clear picture about what you want to achieve. Perhaps you want to buy a new car, save a deposit for your first home, prepare for the birth of a child or go on …
