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Flexing your financial fitness
December 5, 2022Debt Management & Budgeting
It’s a challenging time for household finances right now. Interest rates are rising as the Reserve Bank of Australia increases the cash rate to put the brakes on inflation, and flat wage growth means household incomes have not been keeping pace with cost-of-living increases. The best way to deal with uncertain times, is to be...Read More
How to budget in 3 simple steps
August 29, 2022Debt Management & Budgeting
Learn how to manage your money and understand where it goes. For many of us, making a budget seems like a daunting and fairly stressful task. However, a budget is an essential component of money management and can help you get a handle on your finances and plan for your future. Instead of picturing your...Read More
Being ‘money smart’ and understanding money management principles can help your hard-earned cash go further. Here, we share some tips that could help you budget and better manage your finances. Income Income is any ‘incoming money’ you receive. This can include: Direct income: includes your salary or wages, or financial assistance from the government such...Read More
It’s easy to walk into debt, but so much harder to get out of it. You must own your mess and know that your financial reason for living is to pay down your debt, writes Glen James author of Sort Your Money Out & Get Invested. Apathy and debt reduction don’t go hand in hand....Read More
Credit Card Debt & Afterpay Debt
February 21, 2022Debt Management & Budgeting
Once, credit cards were the payment platform of choice for Australian consumers. Today, Afterpay and similar ‘buy now, pay later’ payment options are fast making inroads – particularly among millennial consumers. While both payment options have their pros and cons, it’s important to consider the implications of credit card debt and Afterpay debt if you’re...Read More
Budget smarter with the 50/20/30 rule
January 31, 2022Debt Management & Budgeting
Looking at your spending in a new light could make a substantial difference to your financial future. The 50/20/30 budget rule works for one main reason – it’s easy. New to budgeting? You may know how much money you make and have a rough idea of how much you spend. But do you know what...Read More
Written by Tony Kaye, Senior Personal Finance Writer After months in lockdowns and living under tight restrictions, many Australians have gone on a “revenge spending” spree. Revenge spending is the term widely being used to describe how some people are taking out their revenge on the COVID-19 pandemic by spending money on things they haven’t...Read More
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....Read More
If you have more than one loan, it may sound like a good idea to roll them into one consolidated loan. Debt consolidation (or refinancing) can make it easier to manage your repayments. But it may cost you more if the interest rate or fees (or both) are higher than before. You could also get...Read More
Understanding exactly how much of what you spend is tax deductible is crucial for understanding what you can spend on your business (and when). People often fall into the trap of thinking that spending a dollar on tax deductible expenses or assets will save a dollar in tax. But the tax man isn’t that generous....Read More