With the Reserve Bank of Australia (RBA) raising the cash rate back in May for the first time since November 2010 – and more rises forecast over the next year – many people are worried about their mortgage repayments. Even though we hear about the cash rate a lot in the news, there is often … Read more
You’ll have heard the old, almost grandmotherly adage that ‘every dollar counts’. But guess what – it’s true. Voluntary after tax super contributions (also called non-concessional contributions), refer to any payments you make to your super fund out of your take-home pay. Making after-tax super contributions is an easy way to boost your retirement savings … Read more
It’s devastating when a natural disaster destroys or damages your home. Finding out you don’t have enough insurance can add to your distress. Understanding what events and damage are covered by insurance can help you get the right cover for your home. Knowing if you live in a disaster-prone area can give you a better … Read more
Teaching good financial habits, such as saving and budgeting, is one of the best ways to prepare children to have a secure financial future. Helping kids establish sound money management skills and strong financial acumen is important, regardless of wealth level. Younger children (under age 11) A great way to begin to teach younger children … Read more
While 2021-2022 may not have been a stellar year for the majority of investors, it’s worth remembering that the worst performing asset class one year can be the best the next, and vice versa. That’s why successful investing benefits from having a good balance. The last financial year, particularly the first half of 2022, saw … Read more
When you start a job, you can usually either choose a super fund or let your employer choose for you. Understanding the basics can help you work out what kind of account you get and whether it’s right for you. If you want to choose your own — or change your account — there are … Read more
As technology creeps further into our everyday lives, cybercriminals are taking advantage of the latest that technology has to offer and carrying out increasingly sophisticated scams worth eye-watering sums. In the 2020-21 financial year alone, individuals and businesses in Australia reported total losses of more than $33 billion. The main types of cybercrime were fraud … Read more
The daily grind of a job working for an over-bearing boss, or is it a family or financial problem, a traumatic life-event, or the fear of getting older can force us to sit down and really think about the meaning of life. Why are we here? What is our purpose? What do we want to … Read more
If you’re finding it difficult to save a 20% home loan deposit, you might still be able to borrow by paying Lenders Mortgage Insurance. We’ll run through how LMI works and what it might mean for you. How Lenders Mortgage Insurance (LMI) works Lender’s Mortgage Insurance (LMI) is insurance that a lender takes out to … Read more
Superannuation (or Super) is a percentage of your income put aside by your employer over your working life to help fund your retirement. It’s a compulsory system in Australia that requires contributions to be made, most commonly, into either an APRA regulated retail or industry superfund (run by a board of trustees) or an ATO … Read more
Marketing campaigns, agent commission, taxes… there’s a lot to consider when it comes to the cost of selling your home. We’ve laid out the main expenses for you, so you can stay on track, and on budget. Marketing costs Advertising Advertising costs vary depending on a number of factors, especially how you choose to sell and … Read more
Characteristics of goal-driven savers 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