Does it pay to plan ahead when you travel?

Does it pay to plan ahead when you travel? You may be keen to go wherever the wind takes you, or you might be a plan-to-the-hour type of traveller. There are benefits to both styles. Travellers often fall into two categories—the planned and the unplanned—and more than likely, you already know which of the two camps you belong to, or if you sit somewhere in between. Whatever your preference, we look at some of the …

Will you be renting in retirement?

Will you be renting in retirement? Is owning your home the best option for your senior years? Discover why renting in retirement could be on the rise and explore some advantages of being a tenant in later life. Being secure in a home you own is usually part of the picture – and costs – of life in retirement. In fact, Retirement Standard figures published by the Association of Superannuation Funds Australia (ASFA) are based on the assumption …

Digital payment options could see you spend more this Christmas

Digital payment options could see you spend more this Christmas With the festive season just weeks away, Australians are gearing up for the annual peak spending period, and the growth of digital payment options could be widening the gap between what we regard as our spending limit and the balance of our bank account. The disconnect between cards and cash Credit cards make spending (and overspending) very easy, and a new breed of “digital wallets” …

Should you lend money to family?

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 …

Money can buy you happiness, you’re just spending it wrong

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 …

What to do when you come into money

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

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 …

How to make technology work for you

How to make technology work for you Automate the boring things Set up direct debits so your bills are paid on time without having to remember all the due dates. And if your credit card is weighing you down, set up a regular payment and pay the full amount each month if you can to avoid more interest. Or at least pay the minimum monthly amount before the due date rolls around. You’ll have peace …

Can delayed gratification help you with your finances?

Can delayed gratification help you with your finances? The benefits of delayed gratification and how it can help you achieve your financial goals. Are you the type of person who always has to have the latest clothes, smart technology or gym gear? If you answered yes to this question, you could be a person who likes instant gratification, that is, you like to indulge in instant reward now, rather than exercising self-control1, in return for a …

Sending more to the tax office than you should?

Sending more to the tax office than you should? Can you keep more money for yourself and work towards being better off from 2017? As the year-end fast approaches, it’s a good time to think about how you can start working towards being better off. Before the end-of-year holidays start shifting into full swing and before you know it you’re splurging your hard-earned money, take a moment to think about whether you can give yourself …