Be suspicious of anyone offering you easy money. Scammers are skilled at convincing you that the investment is real, the returns are high and the risks are low. There’s always a catch. How investment scams work There are three main types of investment scams: The investment offer is completely fake. The investment exists, but the … Read more
If you think your employer isn’t paying your super contributions, follow the steps below: Am I entitled to super? – you should confirm that you’re entitled to super before taking any further steps. Go to ATO online via myGov to view super contributions that have been paid into your super fund by your employer. If your … Read more
Paying off your mortgage early will save you money and take a financial load off your shoulders. Here are some ways to get rid of your mortgage debt faster. Switch to fortnightly payments If you’re currently paying monthly, consider switching to fortnightly repayments. By paying half the monthly amount every two weeks you’ll make the … Read more
With markets falling and inflation ramping up, investors might feel they need to ‘do something’ to avoid further losses. However, when it comes to investing, taking action in response to market turmoil may derail a sound investment strategy. To say that conditions have changed since the initial 2022 outlook would be an understatement. We welcomed … Read more
Before you say ‘I do’, talk about your finances with your partner. Not getting married, but in a relationship? See relationships and money for useful tips. Manage the wedding whirlwind The average Australian wedding costs $36,000. According to a Moneysmart survey, 82% of couples dipped into their savings to pay for their wedding. Another 60% got a … Read more
How much tax you pay on retirement income depends on your age and the type of income stream. For most people, an income stream from superannuation will be tax-free from age 60. How super income streams are taxed Types of super income streams Income from super can be an: account-based pension — a series of regular … Read more
Knowing how your mind works can help you avoid the more obvious traps many investors fall into. Cognitive bias has become a bit of an investing buzz phrase in recent years. The theory is that the human brain predictably makes errors of judgment that can lead us to be emotional, short term and come to … Read more
Before you decide to purchase your first property there are a number of things to consider, including your current personal circumstances and financial status. 1. Think about why you want to buy a home Do you want to live in it or will it be an investment property? This can help determine the kind of … Read more
Characteristics of impulsive spenders A ‘money mindset’ is a way of thinking about personal finance. Your money mindset can change over time, and it may help explain your spending and savings habits. Understanding this can help you build habits and strategies to better manage your money. If the following applies to you, you might be … Read more
Asset allocation is the biggest determinant of investment returns. Here’s why taking the time to get it right matters. Choosing investments on a whim based on current market conditions is unlikely to be a winning strategy in the long-run. What should come first, and what is perhaps fundamentally more important than picking the right investments, … Read more
We’ve all heard of the dangers of emotional spending but what about emotional saving? Emotions can wield a powerful influence on our personal finances in a positive way, but they can also have a negative impact on where we sit financially. The good news is, by cultivating a bit of self-awareness you can harness your … Read more
Setting the scene Marilyn is 67 and has had enough of work. She has worked hard and raised two children on her own and she’s ready for some “me time”. Her children are now adults and live at opposite ends of Australia to her. Marilyn has sold her (big) home and has moved north to … Read more