Archive for the ‘Budgeting’ Category

New rules for credit cards: what do they mean for you?

By admin • August 3rd, 2020

The name John Biggins may not sound familiar, but the banking industry has much to thank him for. Mr Biggins, a Brooklyn banker, was the brains behind the very first credit card in 1946. Known as the Charg-It card, it led to Diners Club membership cards and store cards, revolutionising the way everyday people shopped. […]

Room to rent? Read this first

By admin • August 3rd, 2020

Renting out a spare room can be a great way to earn some extra cash, particularly with the help of Airbnb and similar online services. However, it’s easy to overlook the fact that the rent you charge, even on short-term stays, is taxable income. It must be declared on your annual tax return and, depending […]

The relationship between interest rates and housing affordability

By admin • August 3rd, 2020

It goes without saying that homebuyers love low interest rates. The lower the interest rate the less the mortgage repayments on a particular house, right? Well, maybe. Lower interest rates also mean borrowers can service a bigger loan. In a competitive housing market that can push up prices, as we have witnessed this past decade. […]

A different way to help the grandkids

By admin • July 1st, 2020

Many grandparents want to give their grandchildren a head start in life, and a common way to do so is to  help by paying some (or all) of their school fees. This can, of course, simply be done by making a contribution at the time the fees are payable. However, it’s not unusual for grandparents […]

Salary sacrifice vs personal contributions to super

By admin • April 28th, 2020

If you are an employee, there are two ways in which you can optimise the taxeffectiveness of your additional super contributions: • opt for a salary sacrifice arrangement, whereby your employer makes additional superannuation contributions beyond the compulsory superannuation guarantee (SG) amount from your pre-tax earnings and reduces your salary accordingly; or • make a […]

Financial literacy for our children

By admin • April 28th, 2020

Financial literacy is a fundamental life tool. Teaching our kids about financial management from a young age should be a high priority as this is now recognised as an important stepping stone to financial success. Fortunately, secondary school teachers now have access to free teaching resources through not-for-profit organisations such as the Financial Basics Foundation. […]

Four financial resolutions to kick start the new year

By admin • January 24th, 2020

The dawn of a new year sees many people setting new year’s resolutions such as losing some weight or giving up smoking. Similarly, the beginning of a new year is the ideal time for setting financial goals, and here are four practical ways you can kick your year off to a great start. 1. Decide […]

Is paying your mortgage off quicker really the best option?

By admin • January 8th, 2020

Not so long ago one of the most effective, low risk wealth creation strategies was to use spare savings to pay down a mortgage, either directly or via the well disciplined use of an offset account. If your mortgage interest rate was 8% per annum, that’s the effective, after tax investment return this strategy delivered, […]

Work, life, travel – you can do it all!

By admin • January 6th, 2020

Travelling the world and seeing the sites is an expensive endeavour, particularly when young. This article explains how working abroad can help you live the work-life-travel dream. Michael was twenty-something and eager for adventure when he spotted the advertisement. It read, “Japanese schools seeking English teachers. No experience necessary – we train you.” What followed […]

Joined up finances

By admin • October 28th, 2019

If things are getting serious with your partner, is merging your finances a natural next step? Learn about different ways to manage money as a couple so you can decide on the right approach for your relationship. Being open about money is pretty important in a successful relationship. Secret spending and other  forms of financial […]

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