Putting your money into a savings account, or in the alternative, a term deposit, are two common methods of saving. Working out whether either of these options are right for you depends on your personal and financial circumstances, as well as your saving goals. Here are some of the common features and benefits of each. …
Financial year 2019-20 is now behind us and there’s nothing like closing a chapter to inspire thoughts of a fresh start. But global challenges persist: Australia is officially in a recession while also bracing for a post-Job Keeper economy in September. While it’s impossible to anticipate future changes to the global economy, there’s plenty you …
The economic impact of the COVID-19 pandemic is playing havoc with finances for many households. In an ideal world, the financial boost should be enough and assumes that everyone was financially prepared for tough times. But in times of crisis, it can all be a little overwhelming. Here are 5 common financial mistakes to avoid …
Ok we get it, knowing where to turn to for financial advice can be confusing sometimes! Financial planners and financial counsellors are both types of financial experts, so which one is right for you? To answer this question, start by considering why you’re seeking financial advice. Is it to improve your financial wellbeing? Plan for retirement? Manage …
If you think storms may lie ahead, it makes sense to prepare your craft for choppy waters. With Australia facing continued economic uncertainty, it may be time to take stock of your finances and get in the right shape. However, if you’re worried about the threat of redundancy, your investments or your retirement plans being disrupted, …
According to the Australian Taxation Office, there are three ways to claim your home office running expenses. The actual cost method Under this method, your tax deductions include the actual costs of work-related expenses. This applies to things such as the costs of your home office furniture and fittings, as well as equipment such as …
We live in a culture of smartphones, WIFI, home delivery, online shopping and online gaming, where most needs and wants can be met almost instantly. With so much temptation to spend, it’s vital to teach your kids the money skills to help them enjoy financial wellbeing as adults. But should you give your teenager a …
There’s no denying that staying home has been the best defence against Coronavirus. The less contact you have with other people, the easier it is to stay healthy. But staying at home day after day has been a tough ask – especially for people who live alone. Being unable to hug your grandchildren, catch up …
As lockdown restrictions begin to ease Australia-wide, a new normal is emerging for businesses and employees. While it’s too soon to say what the post-lockdown economy will bring, for many Australians life won’t be quite the same as it was before COVID-19. Record job losses, reduced hours of work and the deferral of dividend payments …
Determined to master your money and stick to a budget in 2020? It doesn’t have to be boring or difficult if you keep it simple, and easier still if you let technology do the heavy lifting for you. 1. Pocketbook Pocketbook automatically organises your spending into categories like clothes, groceries and fuel, showing you where money is …