Introduction

It’s the most common story financial professionals hear. Unfortunately, too many people fail to set aside emergency savings to see them through life’s hiccups. So when the inevitable happens, and an unexpected bill arrives, they are put under pressure to find the funds to pay it.

In turn, this leads to maxed out credit cards or taking out expensive short term loans. And so begins the bitter downward cycle of falling behind on essential bills and other regular payments.

Introduction

Back in my day…

If I had a dollar for every time I’ve heard that over the years! More interesting, I caught myself saying those words only last week as though channelling my father!

The younger generation is so tech-savvy these days that I can’t keep up. Although we had technology too! Our ‘information revolution’ produced gems like floppy-disks, dial-up internet and entire families sharing a single land-line telephone. Quickly superseded and gone forever, thankfully!

When it comes to money, some things stay relevant regardless of your generation.

Introduction

The world is constantly dangling temptations before our eyes, and it’s never been easier to buy stuff, even if we don’t have the money. The upshot is that we are all susceptible to making some basic financial errors. Individually, these mistakes can be small. Added together, they can really hold us back from financial success.

Adding up the little things

Take one simple example. It’s easy to spend $15 on lunch from a café. But make your own and you could easily save over $10 per day. Multiply that by your working days and you could be saving over $2,000 a year!

Introduction

When Jack and Sarah met through mutual friends, they hit it off immediately. Both had previously been married and, besides having a child each, found they had quite a lot in common. 

Dinner dates quickly morphed into family-style outings with their children, to the zoo or adventure theme parks, and soon the couple was talking about taking their relationship to the next level.

According to the Australian Bureau of Statistics, in 2018, over 118,000 marriages took place in Australia. Of those, 15.7 % were second marriages. Many of this number were considered ‘blended’, meaning that one or both parents had children from previous relationships.

Introduction

When developing a budget, it’s easy to think that you have no control over costs for essential items such as electricity, particularly when every bill seems to be higher than the last. But if you look closely at your energy usage at home and make a few small changes to reduce your consumption, you will be able to use that extra cash in more enjoyable ways than paying it to an electricity provider. In addition, you are making a valuable contribution to the environment.

Introduction

Each year in early May, the Treasurer delivers the Federal Budget and many people across Australia listen intently. The Budget tells us how the government plans to spend its revenue in the coming year, whether it can afford to give us tax cuts, and whether it expects to spend more (creating a deficit) or less (creating a surplus) than it receives.

Budgets are also important on a personal level, especially when living costs are rising and uncertainty abounds. So it’s worth having a look at how you can manage your finances in the current economy.

Introduction

The days of the sole breadwinner looking after all the family finances without any involvement of their partner are long gone. With two-income families more often the norm, both parties in a relationship have a say in the financial situation and an understanding of what is going on.

Introduction

The holidays are over and you’ve had a great time. The dreaded credit card statement has arrived and you wonder how you’re going to pay it off. The happy holiday memories vanish into thin air. Unfortunately there are no magic ways to wipe out debts - it just takes discipline.