Comfort spending in the land down under – what we buy and why

Comfort spending in the land down under – what we buy and why A year ago, takeaway food was number one on Australia’s comfort-spending list. If habitual purchases like this are still taking their toll, here are some tips for 2022. Over a 12-month period, Australians forked out a whopping $37 billion (and then some) on comfort spending1. You know, the things you might buy to pass the time or make yourself feel better. If …

What is financial wellness?

What is financial wellness? How you feel, is your wellness. How you feel about your money is your financial wellness. This can be measured by the financial wellness index, which measures a person’s satisfaction with their current and future financial situation. For more information on financial wellness, please go to https://www.amp.com.au/insights/manage-my-money/financial-wellness Get more tips about managing and protecting your cash, reducing the money you owe and saving for both your big and small goals: https://www.amp.com.au/insights/manage-my-money …

Christmas gifts that won’t blow your budget | Money & Life

Christmas gifts that won’t blow your budget Christmas is a wonderful time of year in Australia, filled with summer foods, decorations and of course, gift giving. This year will feel even sweeter for many, as friends and family reunite for the first time in months, if not years. Here are a few ideas to help you stretch your Christmas gift budget further, so you can enjoy more family time, without the financial hangover. For many …

Should you merge your finances with your partner? | Money & Life

Should you merge your finances with your partner? If you’re in a relationship, it can be tricky to work out when to start sharing income and expenses. Here are a few ways to successfully merge money as a couple. The COVID-19 pandemic has changed many aspects of our daily lives, and romance is no exception. While lengthy separations have led some relationships to end, other couples are choosing to move in together more quickly than …

How ‘Buy Now Pay Later’ affects your credit score | Money & Life

How ‘Buy Now Pay Later’ affects your credit score What impact does ‘Buy Now Pay Later’ have on your credit score, particularly for people wanting to secure a home loan? Christopher Zinn explains. In recent years, ‘buy now pay later’ (BNPL) has become an increasingly popular method for consumers looking to purchase goods via installments without resorting to credit cards. These services are often billed as a safer and more convenient  way for consumers to …

How to get help with your bills during COVID-19 | Money & Life

How to get help with your bills during COVID-19 If you’re one of thousands of people who has lost income due to COVID-19, you might be finding it hard to pay your bills. Here are some tips to help you get back on track. As COVID-19 lockdowns continue across much of eastern Australia, many people have once again found themselves out of work. Those working in service industries, and casual workers in particular, are doing …

What info is on my credit report and why does it matter?

What info is on my credit report and why does it matter? Your credit report reveals whether you’ve been paying your bills on time and it matters because it could affect your ability to borrow money. If you’ve got a credit card, personal loan, mobile phone plan or utility account, there’s probably a credit reporting agency out there that has a file with your name on it. Credit providers give this information to the credit …

Can you use your pension to retire debt free?

Can you use your pension to retire debt free? Perhaps you’re considering options for how to reduce your debt before retiring. Well, one option may be to use your pension account, but there are some important things you should consider first. It’s no secret that Australia, like many countries, has an ageing population. According to the Australian Bureau of Statistics, 16.3% of us are over the age of 651, but that number is expected to grow …

Should you use property to fund your retirement?

Should you use property to fund your retirement? While property may seem like a good way to build – and hold – wealth, is it actually possible to use it as a way to fund your retirement? Superannuation, shares, property, cash, other investments… a dizzying number of options are available when it comes to living comfortably through retirement. Financial advisers often promote a diversified portfolio to reduce the risk of concentrating ‘all eggs in one …