Have you lost your super? Here’s how to get it back!

lostMost people I speak to have several super funds. They also tend to have lost super along the way, or forgotten that they even have different super funds.

If you move houses and haven’t updated your address it is likely that somewhere along the line you may have lost some super.

What does it mean when they say ‘lost super’?

When a superannuation fund lays dormant for a period of time (usually 2 years), or the balance falls below the minimum (currently $1,500), the superannuation Continue reading

Free money for your first home: how you can get $1,020 per year for free

housepic1First home saver accounts are a Government initiative trying to promote you to save for your first home. This is separate from the first home owners grant (up to $15,000 currently) and aims to reward you for good savings.

So as much as I would love to say the $1,020 free money is easy, there is a tiny catch. You also need to save money for your home.

Here is how it works.

You open a first home saver account. Most credit unions have an option available to you. This special account has a 15% tax environment. Normally, any Continue reading

Salary Sacrifice. Why would you do it?

CarLately salary sacrifice has come up in a few conversations that I have had and it was used in the wrong context. It is almost like some people use the term as a throwaway line not knowing what it truly means.

So, here is my salary sacrifice 101 for those of you who don’t know, for those of you who think you know, and for those of you who are missing out by not knowing.

Salary sacrifice is the process of forfeiting some of your take home pay for another purpose or expense. This may include: Superannuation, car leases, computers, utility bills, education expenses, loans and even different Continue reading

Dollar Cost Averaging

clockI always feel like dollar cost averaging sounds a bit technical, but it’s a pretty basic investment concept. It is the practice of investing a fixed amount at regular intervals. The aim of this strategy is to help take some of the risk out of investing in fluctuating market conditions by removing timing risk.

Timing risk is the risk when you are attempting to time the market when it comes to entry or exit. There is the risk that you could buy when the markets are up or sell when the markets are down.

Nobody has a crystal ball when it comes to the best Continue reading

Have you got the skills to pay the bills?

8689212_77032f943cToday I am talking to you about something that is happening this very week that will affect each and every one of you, so read on.

As of March 12 (Wednesday this week), the system behind your personal credit ratings will change, and it is something that everyone needs to know about. I have previously written about the importance of credit ratings here if you need to brush up on your knowledge.

Generally speaking the change is actually for the better, so here is how it works.

Australia has previously managed the credit reporting system with a ‘negative’ slant. That means that your individual credit report Continue reading