First home saver accountsare 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 →
Lately 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 →
I 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.
Today I am going to delve into the world of budget specialists. This can be a bit of a mystery so I thought I would talk about what they do, how they charge, tips and tricks and options available to you. This is a big one guys, make sure you have a comfy chair and a cup of tea.
What do they do?
There are several companies out there at the moment who profess to have all of your money troubles sorted out for you on the other end of the phone.
One of the biggest things that budget specialists do, is automate your finances. All of your pay goes to them, from that, they will pay your bills and debts, transfer you a small amount of spending money, save some for you Continue reading →
I got stung recently. Some low life out there fraudulently used my credit card, very sneakily might I add.
I tend to check my accounts every few days, just to see if expenses have come out, and more importantly what has gone in. :) I noticed a $1.00 transaction for Itunes Brisbane. Hmmmm, very interesting. I have bought 1 book on Itunes for my trip to Japan and that money well and truly came out of my account a long time ago.
As I always tend to do when I am not sure about something, I googled it. I was worried that maybe I accidentally Continue reading →
Today 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 →