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There’s no denying that being proactive with your super may be key to increasing your retirement savings. As an investment vehicle, super can offer significant benefits thanks to the magic of compounding interest. It also provides one of the best tax structures available.

Downsizing the family home is often part of the longer-term financial plans for many older Australians. But did you know that you could consider investing the proceeds of the sale of your family home to your super – depending on your age and circumstances – as a downsizer contribution?

In these uncertain times, it pays to have money set aside to give you peace of mind that if your income drops, you still have ample funds to pay for your everyday expenses until you get back on your feet again.

In the right hands, a self-managed superannuation fund (SMSF) can be a beneficial way to build wealth for retirement. Whilst they are not for everyone, it is important that when thinking of starting an SMSF, individuals need to understand the benefits and responsibilities they take on by having an SMSF.

Is your credit rating looking a little worse for wear? Here are our tips to help you get it back into shape ahead of your next big purchase.

We check out the three largest contributors to household spending in Australia and where people would source additional cash if living expenses rose

When you’re under pressure to give that perfect present at Christmas it can be much harder to stick to a budget. Find ways to make your gift budget go further with our top tips for giving generously without going overboard on spending.

You might feel emotionally ready to retire but you’ll want to make sure you’re financially ready too. Socialising with mates, enjoying leisurely activities and indulging in the odd trip away are all things that have likely crossed your mind when thinking about how you’ll spend retirement.

An effective way of building your super savings (and potentially reducing your taxable income) is through salary sacrificing – that is, asking your employer to put some of your before-tax income directly into your super fund.

Super is there to provide you with an income when you stop working and it may provide a tax-effective way to save for your retirement over the long-term.

Since marriage equality was achieved in 2017, LGBTI people have had access to the same legal and financial rights as heterosexual married couples. Yet members of the LGBTI community still face some unique challenges when it comes to their financial wellbeing. So what do same sex couples need to know when it comes to planning their financial lives together?

Conventional wisdom used to dictate Australians were better paying off their home loans, and then, once debt-free turning their attention to building up their super. But with interest rates at record lows and many super funds potentially offering a higher rate of return, what’s the right strategy in the current market?

Getting money together to buy your first home can be a big ask. As well as a deposit (ideally 20% of the house price), you also need to consider stamp duty and other expenses like conveyancing fees. And if you have less than the recommended deposit, you’ll also need to pay lenders mortgage insurance (LMI) – either as a one-off fee or added to your overall loan.

According to the Australian Bureau of Statistics, women are retiring with 37% less than men in their super accounts, which is a frightening thought considering women, on average, live up to five years longer.

It could take months, even years, to clear debt – especially if you used your credit card and you know you’ll be slugged with snowballing compound interest each month you don’t pay it off.

Whether you breeze through tax time or dread the extra admin, receiving a tax refund makes the effort worthwhile. For many of us, getting a financial boost will be even more welcome this year, and you might be looking around for the best ways to spend it.

Scams and cybercrime are booming in the wake of the COVID-19 pandemic, leaving thousands of people out of pocket. Investment scams in particular have surged, costing victims more than $26,000 on average.

It’s been a trying time for many people, with our collective mental health taking a toll as the COVID-19 pandemic rolls on. The Melbourne Institute says one-in-three Australians are now reporting financial stress, while one-in-five are feeling ‘mental distress’.

In the past, wealth was often passed on through an inheritance. But with our longer lifespans, and the higher cost of living (especially housing), the desire to help our kids while we’re alive and well is increasing.

Salary sacrificing into super is where you choose to have some of your before-tax income paid into your super account by your employer. This is on top of what your employer might pay you under the super guarantee, which is no less than 10% of your earnings, if you’re eligible.

Money issues are often cited as the biggest causes of stress in a relationship. Yet despite their importance, a recent survey of Australian couples found that 43% hadn’t discussed how they’d share their incomes before they committed. And close to a third hadn’t talked about their financial situation with their potential partner at all.

In 2020, the ease in which we travelled overseas changed abruptly. And in the years to come, vaccinations, travel bubbles and testing are likely to become as routine as packing your passport and booking a hotel. Here’s what international travel may look like in the next few years – and how to stay safe on your travels.

Being in debt can really wear you down, both financially and emotionally. Whether it’s a single large credit card balance or multiple loans, store and credit cards owing, getting clear of your debts is going to make a big difference to your financial future.

For some, the thought of a mid-life crisis may bring to mind quirky Steve Carell comedies like Crazy Stupid Love or The 40-Year-Old Virgin. But if you or a loved one are actually going through something that resembles one, you probably have fewer reasons to chuckle.

There’s no denying the pandemic has significantly affected the finances of many Australians. Some of us are spending more, some are cutting back on non-essential spending and for others, the uncertainty has challenged us to save money for a rainy day, like never before.

Setting up a home office? Here’s how to create a comfortable workspace, while offsetting the extra costs of working remotely. If you’re among those who’s decided to say ‘so-long’ to the office, you’ve probably also realised that having the right home-office set up is essential for your productivity – and sanity.

Financial setbacks can appear in our lives when we least expect it. Paying back a loan like a mortgage or settling debt can be overwhelming to deal with. As individuals, we must take control and choose how to react in tough times. Here are seven strategies that may help restore your financial wellbeing in 2021.

Your 60s are the time in which you’re most likely to retire – according to the Australian Bureau of Statistics, of the Aussies who are planning their retirement, the average age they intend to retire is 65.5 years. But just because you’re getting close to retirement age, doesn’t mean you can afford to stop being proactive about building your nest egg.

Looking for a good savings account can sometimes be a little like looking for a good partner – the honeymoon period might be important, but so is achieving your happily ever after. While different features will suit different people, here’s a bit of a checklist of things you may want to look out for when choosing the savings account for you.

Women are entering retirement with significantly less superannuation and personal savings than men – leading to a growing class of women living out their golden years in poverty. We explore how the gender pay gap is adding to this growing epidemic.

If you’ve recently split from your partner or are simply wondering what might happen if you do, you’ll need to keep your financial wits about you. A division of assets and debts, whether they’re held separately or together, may be on the cards.

Are you guilty of changing your spending habits when you’re in a relationship? Do you have a financial plan, or are you relying on a partner to take care of you in retirement? Whatever your situation, there’s never been a better time to step up and take charge of your finances.

Like any habit, our financial behaviours are formed by doing the same actions repeatedly until they’re second nature. That’s great if you’ve got into the routine of saving regularly – but not so good if you’re one to whip out the credit card on impulse.

Surviving on a student budget isn’t easy, but don’t worry, it can be done. Whether you’re studying remotely this year, or returning to campus, we have some great tips to help you manage your finances.

Most of us want to put 2020 firmly behind us. But there were some silver linings from this tumultuous year. One positive was the chance to work from home.

For many people, your 50s are your golden years, a time when you may be at the pinnacle of your career and some of the big expenses you needed in your 20s, 30s and 40s have levelled out. But, while it may be easy to slip into a comfortable pattern of splurging on yourself and your children, this is the final stretch towards reaching your financial goals – a time when you should be maximising your financial know-how.

Let’s start with the good news: studies show that your income peaks between the ages of 45 and 54. You’ll potentially have more money than ever – but you may also have unexpected or unwelcome expenses, like divorce. At this age you might also put retirement planning on the backburner in favour of more pressing financial commitments, such as your mortgage and kids’ school fees. Use these potential life changes as the impetus to re-evaluate your assets and income, and look at how you can maximise savings for your retirement.

Cybercrime rose sharply in 2020, as more people worked, shopped and socialised online due to the COVID-19 pandemic. Anyone can be a target, so it’s essential to be proactive when it comes to protecting your finances and identity online.

While investing into traditional property might require a significant deposit, and a commitment to a long investment horizon, investing in shares, ETFs, managed accounts or managed funds can be accessed with a much smaller outlay along with the benefit of shorter term access to the value of your investment should the need arise.

According to figures from the Australian Bureau of Statistics (ABS), the total value of new loan commitments for housing and within that, the value of owner occupier home loan commitments has reached record highs.

Having a baby is an exciting and life changing experience. But what about the cost? There are many hidden and unexpected expenses that go along with your new bundle of joy. Follow our handy guide to planning your finances, so you can avoid any money worries once baby arrives.

After living through a year when our collective mental health took a beating, 2021 has brought with it a fresh sense of optimism and relief about what the future may hold. Like many people, you may be planning to do things differently this year.

If you’re among those who lost their job or missed out on work opportunities last year due to COVID-19, here’s what you can do to improve your employment prospects in 2021.

Some big life changes – and big expenses – can occur in your 30s. The key to maximising your retirement savings now is making savvy, forward-thinking financial decisions.

The Lunar New Year begins on 12 February, as we usher in the year of the Ox. Ancient Lunar New Year traditions are believed to encourage health, wealth and prosperity, so why not create your own good fortune with our guide to help you get your finances in order?

If you were working towards a retirement date and Coronavirus has meant a change of plans, it can be hard to move the goal posts. Could you gradually reduce your hours to make stretching out your years at work more do-able?

It’s an uncomfortable truth, knowing that one day we will pass away. No-one likes to think about the distress it will cause their loved ones or what kind of burden they’ll be left with. That’s why death is often considered a taboo topic of conversation, along with money and politics.

Here’s a list of things you could stop doing if you no longer want to rely on the bank of mum and dad, or that credit card.

It’s a very 2020 story. Your new homemade breadmaking skills are as uneven as the lump you lifted from your oven, so you pop down to the bakers for their tasty sourdough rolls. But as you make it to the front of the socially distanced queue and pull out your $10 note, the assistant points to the handwritten sign, ‘card only’.

Tax cuts proposed in the recent Federal Budget were passed in parliament on Friday 9 October, and you might see some of the benefits before Christmas.

Planning a holiday gives you something to look forward to. Even if you’ve been able to maintain a kind of normal during Coronavirus, most people have experienced additional stress from the uncertainty and isolation. This is especially true for Victorians who have had to endure a long and difficult lockdown period. No matter where you are in Australia, if you’ve been working from home, you may have loosened your work-home boundaries and lost that feeling of rest.

If you’re in your 20s, chances are that life could feel like a bit of a rollercoaster right now. The economic fallout of the coronavirus (COVID-19) may have knocked your personal finances for six and at the same time, you could be juggling new expenses and experiences for the first time, such as moving out of home and starting your first full-time job. Learning to juggle competing financial priorities and save for the future is essential. While these lessons may be confronting at the moment, they can also teach valuable skills that your future self will thank you for. If you do things right in your 20s, you can lay the foundations for a solid financial future and set yourself up for life. Here’s how to put some sound plans in place to give yourself more choices about how you live your life in the years ahead.

COVID-19 has created uncertainty everywhere and impacted not just our health but our wealth too. From millennials to retirees, we’ve had to review our finances and adapt to the changing environment.

If cash flow is looking a tad grim this year, here are some ideas to up the presents under the tree, noting it’s the presence around it that really counts.

Whether you breeze through tax time or dread the extra admin, receiving a tax refund makes the effort worthwhile. For many of us, getting a financial boost will be even more welcome this year, and you might be looking around for the best ways to use it.

If you're in or approaching retirement, you may be prioritising things such as living costs, utility bills, health care and even potentially helping the kids out with their future financial goals. With many Australians looking at a retirement (which in reality, could span a few decades), another thing to give some thought to is keeping some money aside for your own recreation and social life.

Superannuation is a handy way of saving for retirement, so that you’ll have an income to live on once you’re no longer working. Your employer must pay a portion of your earnings into your superannuation fund, which invests them on your behalf.

Do you struggle to control your spending around your friends and family? If the urge to ‘keep up’ with a certain lifestyle is stretching your finances, it could be time to take action.

It’s a win-win idea. A parent sells their home to move in with their adult child’s family, providing cash for the deposit or renovations and helping with the mortgage and providing free childcare. In return, there’s companionship, care and physical support for the older person.

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, here are five things you can do to secure your financial lifeboat.

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 your debt? Or something else entirely?

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 can do to help prepare your personal finances for an unpredictable future. A new financial year is a great time for a check-up and to set yourself new financial goals.

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.

When we talk about financial wellbeing, what do we mean? More than just earning an income, financial wellbeing is about having financial security and the freedom to make choices. There are three interrelated aspects to good financial wellbeing: 1. The ability to meet your expenses and have money left over. 2. Feeling and acting in control of your finances. 3. Being financially secure and not needing to worry too much about money. It’s considered normal for your financial wellbeing to vary over the course of your life. This is particularly true during major life events such as moving out of home, having a baby, changing jobs or retiring. Unexpected financial shocks can also have a big impact on your financial wellbeing.

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.

The COVID-19 crisis has seen many Australians taking steps to stay afloat with their finances. With women more likely than men to withdraw super to make up the shortfall in their income, what does this mean for their long-term financial wellbeing? Here are 5 reasons as to why a super withdrawal during this time could leave women financially vulnerable:

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 with your friends or enjoy your usual social activities has taken a toll on the emotional and mental health of many Australians. So how have older Australians kept their spirits up and maintained contact with their loved ones during social isolation?

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 credit card?

According to the Australian Taxation Office, there are three ways to claim your home office running expenses.

Wearable technology can monitor our heart rate and tell us how much sleep we’ve had, but what about our financial wellbeing? If you could benefit from a Fitbit for your finances, read on. Just like your physical health, the more you can monitor what’s happening with your finances, the easier it will be to improve your financial fitness. We all know that financial stress can have a negative impact on our physical and mental wellbeing, leading to stress, anxiety and depression. Research has even shown that employees suffering high financial stress are “more than four times as likely to complain of headaches, depression and other ailments.” So, if you could get a Fitbit for your finances, what would it track? Keep an eye on these key metrics and you could be feeling financially fit in no time.

Finding the right level of insurance cover is important when you’re thinking about retirement. If retirement’s coming up on your horizon, the impact of COVID-19 (Coronavirus) may have thrown a warehouse-sized rack of spanners in your planning. It makes sense to concentrate on things you can control, such as insurance. Too-high premiums can chew away at the foundations of your savings, at a time when they’re more important than ever. Under-insure and one day your floor may collapse, undone by events you can’t foresee.

Face-to-face encounters have become less frequent in so many areas of our lives – and banking and shopping are no different. So, now’s an ideal time for older Australians to start integrating more digital transactions into their everyday banking. Using these methods for the first time can be intimidating, so we’ve answered some of the key questions you might have about digital transactions and online finance.

There are people who are better at the whole social distancing game than others. If you already normally work from home, for instance, you might be laughing into your elbow as you listen to the newly homebound lament that their desire to binge on Netflix on the weekend isn’t so appealing when they can do it 24/7.

With weeks, and perhaps months, of self-isolation ahead, many of life’s conveniences like streaming and delivery services will become our essentials. But if you’re used to spending unlimited amounts to make life that little bit easier, now is a good time to look at what you can live without to make your budget go further. These days it’s easy to order just about anything on demand. With the tap of a button, you can stream the latest music, have food and drinks delivered to your door and choose a new outfit with next-day delivery. But convenience could be costing more than you realise, with serious consequences for your future financial security. And with the growing number of ‘set and forget’ payments for subscriptions and services consumers are often footing the bill for things even when they’re not really using them. There are also costs to society and the environment that come with the convenience of online shopping. All that packaging and fuel consumption that comes with home deliveries can really add up to big problems for landfill and climate change. If convenience is troubling your conscience, as well as your hip-pocket, take a closer look at these five areas where it’s easy to overdo it. Also, get these ideas on what you could do to put some sensible limits on your convenience spending.

For many traditional office-workers, working from home has now become the new normal. For some it’s an easy transition to make, while for others, it can be a struggle. If you find yourself struggling to adapt to this new way of working and living, here are some tips that can help.

Withdrawing Super: what to consider The federal government has been releasing details of financial support available to Australians who have lost income due the economic impact of the COVID-19 pandemic. A huge number of us have been affected in some way and many have been left feeling stressed and confused about what to do to keep afloat. Although concern about money isn’t the only problem we’re grappling with, financial stress is likely to be on the rise, even among those of us who are generally pretty good at staying on top of our finances. A sudden and unexpected loss of income can send anyone into a panic and many will be looking for ways to replace that income to stop them from racking up debts or running out of savings in a matter of weeks.

Have you received an unexpected email or text asking you to ‘confirm’ personal details by clicking on a link or opening an attachment? It could be an attempt to steal your information for financial gain. Identity theft is on the rise, so it’s important to know how to protect yourself. It’s hard to believe people may be trawling through your garbage or waiting for you to click on an email so they can pick up some personal information about you. But the unfortunate reality is that identity theft is a big problem and one that’s growing over time. According to the Australian Federal Police (AFP), once criminals have your information, they can apply for a credit card or other financial services, open a bank account, run up debts or obtain a loan – all in your name. They could also apply for a job, government benefits, a mobile phone contract, a driving licence or a passport in your name. The more technology advances, the better scammers get at separating people from their money – and you may become a victim without even knowing it. Some people only realise when bank statements don’t arrive or they are receiving no post at all. That’s because the fraudsters have redirected their mail to themselves. Others find out when they see items on their bank statements that they don’t recognise or receive letters from solicitors or debt collectors for loans or accounts that have been set up in their name.

Global economic activity has grounded to a halt, prompting fears the world is in for a re-run of The Great Depression. While there might be similar scenes, the parallels are not as strong as you may think. Without a doubt, countries worldwide are in for sharp, deep recessions as they rightly sacrifice economic growth in the name of healthcare. This includes the world’s largest economy, the United States. Huge as the gravity of this situation is, and as devastating as it is for people and economies the world over, there are things missing from the social and economic setting which were pivotal in the makings of the Great Depression.

How to reduce expenses after a job loss and get back in the driver’s seat of your finances. With many thousands of Australians experiencing job losses and reduced hours as a result of the COVID-19 (coronavirus) pandemic, many will need to take a look at their expenses to continue living within their means. The average Australian household spends almost $75,000 each year on living expenses, excluding major expenses such as rent or insurance. That adds up to between $1,100 and $1,700 per household each week that’s spent on personal care, pampering our pets, transport, alcohol, fashion and more. The good news is that there are some simple ways to cut back on these expenses. Whether you need to slash your costs significantly or simply tighten up your spending after a job loss, here’s where to start.

Everyone who’s approaching retirement wants to know how much money they need to save - how much is enough to leave work confidently and then live comfortably? Lately, we’ve been seeing $1 million dollars bandied around as the magic number but is $1 million enough? Well, it depends. If you’re a high-income earner and want to maintain a similar lifestyle when you retire, then $1 million might not stretch as far as you think. If you’re happy to spend less, then it may be enough. The Association of Super Funds of Australia (ASFA) calls this the difference between a ‘modest’ and a ‘comfortable’ retirement. It estimates that a couple needs an annual income of around $40,000 for a ‘modest’ life and $60,000 for a ‘comfortable’ life.

Australia • Headline inflation rose slightly more than expected in the December quarter. Prices rose 0.7% over the three-month period, the fastest quarterly increase in three years. This took the annual inflation rate to 1.8%. • The increase was partly due to higher food prices, affected by disruptions to transportation owing to bush fires in November and December. Fruit prices rose nearly 7%, for example. • Employment data for December was again strong, following a better-than-expected result in November. • A further 28,900 new jobs were added, almost three times the 10,000 estimate. This lowered the unemployment rate to 5.1%. • New jobs were again dominated by part-time positions, but the improvement was nonetheless quite pleasing for policymakers. • Together, the stronger inflation and labour market data prompted the Reserve Bank of Australia to leave interest rates unchanged at 0.75% at its meeting in early February.

Super law sets out some requirements that trustees of regulated super funds need to consider when formulating an investment strategy. These requirements include (but not limited to) the composition of investments, risk and return, liquidity, insurance and the ability to pay liabilities (including member benefits) as they become due. Looking first at the composition of investments, there isn't a requirement that SMSF investments must be diversified, and there are some SMSFs that have large investments in a single asset or asset class.

When considering the financial position they’ve achieved in retirement, many Australian retirees share the same opinion: “I wish I’d saved more.” For some people, keeping up with day-to-day living expenses and staying on top of debts is challenging enough, and investing for the future can seem out of reach. Meanwhile, others are better at sticking to a budget and putting aside money on a regular basis so they can build wealth over time.

New Year’s resolutions are such a drag, right? Whether it’s fitness, family or finances, the best laid plans rarely last beyond the first week of January. Life has a habit of getting in the way, especially these days with so many demands on your time.

3 factors affecting retirement income In Australia, people are living longer and interest rates are lower than ever. While the first is good news, the second carries risks if you’re looking for an adequate income to see you through retirement. Here we look at three elements that affect a post-work reasonable income – interest rates, inflation, and longevity.

ASX stands for Australian Securities Exchange (not stock exchange like many people think). How does it work? The ASX provides a market for people to buy and sell shares in the companies listed on it. If the company does well, the investors (those who own shares) have a chance to make a profit. In return the companies raise money to run and expand their business by selling the shares.

Call it a sign of the times but, if you’re not living in a multigenerational household yourself, chances are you know someone who is.

There are a number of ways you can contribute more to your super, to take advantage of time and the magic of compound interest.

Australia’s bushfire crisis has so far claimed 28 lives, killed an estimated billion animals, destroyed more than 2000 homes and burnt through more than ten million hectares of land.

One in 10 Australians are supplementing their income. Erika Munoz and Lucerito Farrell from Sydney's Rozelle are among the millions of Australians turning to the sharing economy to earn extra income. The half-sisters have a pet-sitting business, Petsisttars that is bringing in about $1200 a month. Munoz, 32, works full-time in software sales, while Farrell, 23, is a student. It's a way of combining their love of all creatures great and small with earning money. The sisters have looked after everything from dogs and cats to lorikeets and rabbits in their own home or as part of housesitting.

A ‘black swan’ refers to an event or occurrence that deviates beyond what is normally expected of a situation and is extremely difficult to predict. Brexit arguably is a 'black swan' that, paradoxically, has taken years to unfold. Despite this, we still do not know what the effects of Brexit will be. We know the basic facts: on 23 June 2016, the UK held a referendum on leaving the EU, in which a majority of British voters voted yes.

Being open about money is pretty important in a successful relationship. Secret spending and other forms of financial infidelity can become issues serious enough to threaten your whole relationship. Working towards shared financial goals, on the other hand, is almost guaranteed to help both partners feel more positive about a future together.

Did you know approximately one in every five bags of groceries bought in Australia gets tossed out, with $8 billion worth of edible food ending up in landfill every year?

Australia CPI rose 0.4% in the September, but the annual pace of Australian inflation has slowed to 1.9%. This reduces the likelihood of policy tightening by the Reserve Bank of Australia. For now, official interest rates remain at 1.50%, where they have been for more than two years. Australian unemployment declined to 5.0% in September, the lowest level since 2012. There likely remains scope for further job growth; unemployment was as low as 4.1% before the GFC. Data indicated that the national savings rate has increased to 3.5%, from 1.9% previously. This suggests Australian households are reining in their discretionary expenditure. Building approvals weakened sharply in August and only partly recovered in September, suggesting developers may be reducing activity levels following stagnation in residential property prices. Growth in the value of new mortgages also decelerated to its slowest pace since early 2016; another sign of the cooling housing market.

Recent reports and statistics show we’re no strangers to debt in Australia. According to OECD data from 2015, Australia is 4th in the world – behind Denmark, the Netherlands and Norway – when it comes to the amount of debt we have as a percentage of our net income. These figures also show that with the average level of debt we’re accumulating, we’re spending more than double our income each year.

If you’ve realised you might have a problem with your credit card debt, it’s time to take back control. Sit down, take a deep breath and work out a step-by-step plan.

It makes the world go around, but money can be the source of serious problems among couples, in some cases leading to total relationship breakdowns. Of course it’s not the money per se that creates the issues, but rather our views surrounding it - our financial values and whether or not they’re compatible with those of the person we’ve chosen to spend our lives with.

Faced with average lower earnings, possible time out from the workforce to raise children, and longer life expectancy, it can be a struggle for women to save enough money in their super. According to the 2017 HILDA survey, Australian women are retiring with an average superannuation balance of $230,907 while men are retiring with about twice this amount.

You’ve undoubtedly heard that Australians are living longer. The most recent Intergenerational Report for instance, projected that the number of Australians aged 65 and over would more than double by 2055, compared with 2015.

Most of us have heard of the 5:2 food fast. By feasting for five days and fasting for two, the lifestyle-based diet provides an alternative to the traditional, calorie-restricted eating pattern we may have heard of.

Ageing is a natural part of life and just as we plan for early milestones like buying a home or the arrival of kids, it’s worth laying foundations for old age. Aged care can be a tough subject for many families to broach, but as we enjoy longer lives, there’s a growing likelihood that at least part of our final years will be spent in formal care.

Here are 10 things to consider before taking a career break to have children, including how your finances could be affected and how to manage the impact of that.

In an ideal world, we’d retire from work when we felt like it, free to travel the world, take up a new interest or just relax. But, many women don’t have that luxury. They are living longer than men but retire with 37% less superannuation. And for vast numbers that could mean restricted choices about how they live their retirement. 40% of single women live in poverty and among married women, 44% rely on their partner’s income.

No one likes unpleasant surprises. Talking about your Will with your family can be stressful, but it can also help to avoid a worse situation when you are gone.

Wherever you live and wherever you shop, chances are you’ve become aware of the perils of single-use plastics. And there’s no doubt that getting free, disposable plastics products – from shopping bags to straws – seems like the convenient, budget-friendly option. But ditching single-use plastics could end up being easier on your pocket, as well as the environment.

Tiny homes are seeing rising popularity among Millennials, many of whom are facing affordable housing prices and gig-economy jobs with unpredictable income. It’s no surprise they’re looking for innovative ways to set up a house. Tiny homes are marketed as an affordable way to achieve this. But what are the pitfalls, and are they everything they’re cracked up to be?

You’ve made plans, set a budget and financial goals; you’re ready for anything, right? But what happens if a loved one is in an accident or your ageing parent starts needing dedicated care? How do you juggle career and the role of carer?

For decades real estate not only delivered security and comfort to bring up Australian families but also a cast-iron vehicle for wealth building, seemingly immune from the ups and downs experienced by other types of investment.

It’s the getaway you take when a getaway’s out of the question – the staycation. Whether it’s venturing out locally and returning each evening, or taking a few nights to explore places within driving distance of home, the staycation is becoming increasingly popular.

As retirement comes into view, it’s time to imagine a new you for the post-work age. You remember your first day at school, your first job, your first home. And now your final pay check is in sight. You’re nearly there. That’s quite an achievement.

If it is indeed better to give than to receive, then Australians are a happy lot. According to the Financial Planning Association of Australia, 85% of us find more joy in giving gifts to others than in getting them ourselves.

Knowing what level of cover you require can be tricky, so it’s worth thinking about a few things first, such as—to what extent you and any loved ones rely on your income, how costs stemming from an injury, illness or death might be covered and how existing debts might be paid off.

Funny thing, money. On the one hand it can get us excited or give us a real sense of achievement (think reaching a savings goal). On the other hand, it’s something we tend to keep to ourselves. Whether our finances are in great shape or need a bit of TLC, talking about it openly with a partner or loved one could help you share your experiences and align your financial goals.

Picture the scene. You’ve moved past the honeymoon period of a new relationship and you think this could finally be the one. You’re starting to think about the medium-term future and setting up your lives together.

When you’re looking at properties it’s hard not to pick features you love. A great view. Beautiful leafy garden and pool. Moments from the beach. But purchasing an investment property is very different from purchasing your own home. You have to leave the ‘dream home’ thinking behind and start thinking in numbers, probabilities and what renters prefer. It’s all about maximising your ‘R-ROI’ (Rental Return On Investment).

Parents and guardians want to send children out into the world armed with the skills and knowledge they need to succeed. So, we talk to them about the birds and the bees, we teach them to catch a ball and drive. But oddly, many of us never talk to them about money and how to manage it. Here are a few simple tips for passing on good money habits.

It’s fair to say that most of us aren’t crazy about budgeting. Even with the latest budgeting apps that aim to make this common sense habit into something easy and fun, the thought of keeping tabs on what we’re spending from month-to-month fills many people with boredom or anxiety.

Just as the internet continues to surprise us every day, so do online scammers and fraudsters. It’s good to stay in the know with the cyber dark arts so you can quickly spot them.

If your partner has expressed that you’re a bit of a letdown when it comes to managing money, here are some pointers for when financial opposites attract. Depending on what stage of life you’re at, you and your other half may be in talks about moving in together, adopting a pet, buying a property, or the day the two of you may be able to retire.

Want to make the most of your super? Here are eight steps on how to take control of your super, check your super balance and get it sorted to make sure your retirement savings are on track.

Here are some ways you may be able to benefit your bod, while upping the change in your back pocket at the same time. You might’ve had the best of intentions to improve your health and money situation at the start of the year, but then you blinked and somehow several months flew by and yep, jack squat has changed in your life.

Do you find yourself drowning in random receipts when EOFY comes around? Learn to lodge your tax return the easy way with these last-minute and longer-term tax hacks.

Having more money should make us happier right? According to a number of different research reports, feeling good about life comes from a feeling of control over your finances, rather than how much money you have.

Being financially independent is a mindset that many women are aspiring to, particularly those in relationships. Research from Canstar suggests that we are seeing a rise in the number of women who are their household’s main breadwinner.

Is sticking to a budget the money magic wand that can sort out your finances, once and for all? Discover what budgeting can and can’t do for you and how to turn new budget habits into positive lifestyle changes.

Despite the obvious benefits, only 44% of Australians over age 40 feel prepared for retirement. That’s why we’ve pulled together a nine-point retirement planning checklist to help make sure you’re on the front foot when it comes to financial planning for retirement.

There is no doubt that interest in responsible investments is growing. Not only in Australia but globally, investors are increasingly interested in how a company makes its money, not simply how much it makes. While some investors may focus on the longer-term viability of a company and its behaviour, others may hold particular values they want their investments to mirror. How these two strategies play out in the investments context can be different.

If you’ve got people in your life who you love and want to take care of, it’s wise to build an estate plan. This plan, which you can put together with the help of an estate planning specialist, will make sure loved ones are taken care of in the event of your death.

In a low interest rate world, it’s important to think about the best place to stash your cash – a savings account or a term deposit?

Whatever your age, if you’re thinking of dabbling in investments like shares, managed funds or cryptocurrencies, here are a few things to steer clear of.

Here are some retirement thought starters to help you get started on your retirement planning.

As the old saying goes, there are only two things certain in life: death and taxes. Unfortunately, most of us spend too much time worrying over the latter and not enough discussing the former, uncomfortable though it may be.

There are a number of expenses related to buying a home which you need to consider before taking the plunge, we have attempted here to list these out for clarity.

When you plan to retire will often be determined by whether you can afford to stop working and still have enough income to maintain your lifestyle. Latest figures from the Australian Bureau of Statistics show the majority of men (36%) and women (22%) chose to retire at the time when they became eligible to draw on their superannuation and/or the age pension. And their average age at retirement was 63.5 years.

When share markets fall, every investor has a different emotional response. Some investors get anxious and sell up at the first drop in value, whereas others are happy to ride out short term fluctuations to realise the long-term benefits of their investments down the track. But when markets are in flux, how do you know if it’s time to change your strategy? Here are some things to keep in mind.

Ready to discover the life changing magic of simplifying your money management? Taking the lead from minimalism guru Marie Kondo, we bring you a step-by-step guide to applying decluttering principles to your finances.

The probability of you developing a serious illness or getting involved in an accident so severe you’re unable to work, may seem highly unlikely... until something happens.It’s often small events that remind us we’re not completely in control of these possibilities, which is exactly what life insurance is for.

If you’ve recently been folding, sorting and questioning the things that you own, you too have discovered the joy of a minimalist lifestyle. While organising every part of your home gives you a winning feeling, could you use the same approach to neaten your finances? We say, yes you can.

One in five Australians don’t have enough money set aside to cover a $500 emergency, while one in eight has less than $100 to cover even a small setback. We take a look at the stats, the benefits of emergency funds and how you can set one up with ease.

With recent media coverage about insurance sales tactics, many Aussies might be concerned they’re being sold personal insurance policies – life, total and permanent disablement (TPD) and income protection – they don’t really need.

While a Will states how you would like your hard-earned assets to be distributed, it doesn’t automatically include your super. That’s because, unlike directly owned property or shares, super doesn’t necessarily form a part of your estate. The super fund trustee will distribute it in accordance with super law and the fund’s trust deed and those decisions may not be what you had in mind.

Many people aged between 50 and 65 are uncertain about being able to cover living expenses in retirement. In the past retirees could rely on the age pension to secure their retirement. Many retirees are now less confident about this source of support, as a growing number of baby boomers are retiring and the number of working people to support them is not keeping pace.

Want to boost your financial wellbeing without giving up completely on being spontaneous?  Get on top of your finances and enjoy life more at the same time with our five step guide to living in the moment while saving for the future.

Contributions can play an essential role in a self-managed superannuation fund. Your contributions can be made in two ways – by cash or an asset (known in the trade as ‘in specie’ contribution).

Super statements come but once a year (or twice with some funds). When yours arrives, it’s important to take a proper look because it could become one of the biggest assets you’ll ever have. Here’s our quick guide to what you should watch out for and why.

According to the Australian Securities and Investment Commission (ASIC), Australians owe a total of $45 billion in credit card debt, and about half of us continue to make low repayments and remain in debt month after month.

​​​​​​​As well as super guarantee payments from your employer, there are all sorts of ways to save more into super and boost retirement savings. Find out more in our comprehensive super contributions guide.

Ready to take the plunge and buy your first home? Make sure you know exactly what to expect from the home buying process with our simple step-by-step guide, covering everything from making an offer to moving in.

Everyone has a different life journey they’re on. But getting on top of key financial goals as you follow your own path could see you enjoying a more comfortable lifestyle and being ready for the next chapter to begin. Read our guide to getting all your money matters sorted out, one decade at a time.

Many investors become concerned when volatility occurs in global financial markets – particularly about the impact on their superannuation and other investments. In times like these, it is important to understand the causes of market movements and how to minimise your risk.

It’s easy to have big ideas about your financial future, but harder to achieve them. As most dieters know, you can follow the best dieting program, but struggle to stick to it. The same is true for your financial goals, whatever they include, and the plan you draw up to achieve them.

Mortgage Protection Insurance (MPI) is specifically designed to help you meet the cost of your mortgage in the event of death, disability, illness or even involuntary unemployment.

An ETF is an investment fund that holds a basket of securities – such as shares or bonds that tracks a specified index – and is itself a listed share, traded on a stock exchange.

Five things you might not know about your Super if you are a high income earner.

With multiple avenues to explore, thinking about aged care earlier rather than later could provide you or your loved one with greater flexibility.

Many younger Australians are joining the Financial Independence, Retire Early (FIRE) movement. Is it right for you?

The days of retiring as soon as you can get an age pension may well be over. With Australians living longer and healthier lives than ever before, many seniors are choosing to stay in the workforce. In fact, around 13% of Australians aged 65 or over are still working, up from around 9% a decade ago.

If you run a self-managed superannuation fund (SMSF), the law says you must consider the insurance needs of the members of the fund when preparing the fund’s investment strategy.  This doesn’t necessarily mean that you must take out insurance cover for the members of the fund, but you must consider the insurance needs as part of your management and administration of the fund.

Your home is probably the most expensive thing you'll ever purchase, but what if you made a mistake about what sort of property would make you happy? Professor Michael Norton from Harvard Business School, co-author of Happy Money: The New Science of Smarter Spending, says when choosing a home, many of us unwisely prioritise physical aspects.

Broaching the subject of your passing or potentially becoming mentally incapacitated is a sensitive and difficult discussion and not necessarily one that those close to you will be keen to have.

If you’re stressed about where your money goes, overwhelmed by debt or don’t have any cash set aside for emergencies, now’s the time to think about getting your finances in order.

“Early experiences provided by parents, caregivers and teachers which support children in learning how to plan ahead, in being reflective in their thinking and in being able to regulate their emotions can make a huge difference in promoting beneficial financial behaviour.”

In your 40s, the financial planning you undertook in your 30s begins to come to fruition. Perhaps even better news for many is that it’s still not too late to start this planning in your 40s if you haven’t already done so.

Truth Decay as analysed by the RAND Corporation report is characterised by: disagreement about facts and their analytical interpretation; a blurring between fact and opinion; an increase in the volume and influence of opinion and personal experience over fact; and declining trust in traditional sources of facts such as government and newspapers.

Estate planning is the process of putting in place structures to ensure that the wealth you have accumulated over your lifetime is transferred to your beneficiaries in a tax-effective manner and in accordance with your wishes.

Your kid may not have listened to anything you've said over the past umpteen years, however, now they’ve landed their first full-time job, there’s a possibility that could change.With that in mind, here are some things you may want to cover off with them (which you could also text to them using shorter bullet points, or screenshot and tag them.

Owning your own home outright is a great achievement. But once the home loan is gone, think about your next steps to having a happy and secure financial future.

Australians are collectively paying billions of dollars per year in commissions to financial advisors, planners and brokers on everyday financial products. And in some cases, people receive absolutely no services for these payments received by financial planners.

Where does all that money go? A host of apps are available to help you easily answer that question and even budget better, so you don’t get caught short in the event of a ‘rainy day’ and can feel more comfortable and in control of your finances every day.

There is no doubt that interest in responsible investments is growing. Not only in Australia but globally, investors are increasingly interested in how a company makes its money not simply how much it makes.

From 1 July 2017, the concessional (before tax) contributions cap was reset to $25,000 for everyone (irrespective of age).

After working hard for so many years, naturally you want your retirement to be as comfortable and enjoyable as possible. That’s why it’s worth knowing which types of government support you may be entitled to when you’re transitioning into this new phase of life.

Australians aged 65 and over who are downsizing for retirement can now contribute the proceeds from the sale of their main residence (up to $300,000) into super.

Who should receive super from their employer? How much super should you be getting and when? Are you missing out? Super shortfall – what you can do