Change is coming 1 July…SUPER!

Okay, so maybe you’re thinking that retirement for you is a long way off? Should you be worried? A recent study1 found up to 50% of older working Australians are expected to retire with debt and around 20% are expected to retire with a mortgage. So what do you think is one of the primary reasons for this level of debt? It’s the sandwich! The trend has largely been attributed to our current older generation being the first ‘sandwich’ generation. Many over 50s are under financial pressure from intergenerational dependency resulting in almost $200 billion being contributed to both their […]

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First Home Buyers, stay tuned…

The Federal Budget is looming AND there are rumoured initiatives to help first home buyers (FHBs) into the property market. So if you – or your children – are potential FHB’s it might pay to stay tuned… Housing affordability has been a hot topic as a barrier to entry into the Australian property market. Despite this, the younger generation ARE starting to enter the property market in a variety of ways – as singles, couples, rent investors, in co-ownership and also with help from family. So if extra government initiatives are possibly in the wings what NEW opportunities might this […]

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The cash rate remains steady but our bank interest rates rise??

Once upon a time when the cash rate moved (up or down), most lenders would typically move their interest rate in alignment with the cash rate change. Have you noticed that when the cash rate moves up the lenders are quick to pounce on an increase and pass these increases on to us – the consumer – immediately? AND have you noticed that when the cash rate goes down it can take at least a month for them to respond and for them to pass on the savings? If you have been paying attention over the last few weeks, the […]

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Test your home loan knowledge!

How much do you know about YOUR home loan? Take this quick quiz (answer YES or NO). Do you know: Your current interest rate? If your rate is fixed, variable or split between the two? The remaining term of your home loan? If you have a ‘no frills’ home loan or is it packaged with other finance products? If you have an offset account? The purpose of an offset account? If you have a redraw facility? If so, do you use it? If your loan attracts a break fee? How many times did you answer ‘yes’? Research conducted last year […]

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Debt got you down?

A recent survey revealed 41% of Australians have credit card debt and of those nearly 4 million cannot afford to repay it! In addition: The average Australian household has a debt of around 185% of their annual disposable income1. Australian households have the fifth highest debt levels in the world with household debt increasing fourfold since 19882. Average debt levels are $12,643 for personal loans, $3,114 for credit card balances and $16,320 for car loans. So what does this mean for the ‘average’ Australian? Did you know if you are a prospective home buyer and have these ‘average’ levels of […]

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Top 10 New Year Financial Resolutions That Will Double Your Net Worth This Year

It’s that time of the new year again… so here are our TOP TEN TIPS to help YOU achieve your financial goals in 2017. Follow them through and this might be the year that makes a BIG difference to your financial future! 1. Revisit or redo my budget Email us for our budget organiser to help you get started! 2. Save 10% of my earnings Direct debit into a separate higher interest savings account to avoid unnecessary or emotional spending temptations. Or, if you have a mortgage, these savings may be better served by depositing them into your mortgage or […]

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Life after Daycare…Discover your hidden $avings!

When we live in a busy and expensive world we are often so focused on the money going OUT of our pockets that we sometimes don’t notice what’s coming IN.  When you stop and think about it, there are a number of events in our lives when we DO actually have financial wins but because of our busy lifestyles we often don’t register them. A change in financial circumstances could start as early as when your children grow out of nappies. Did you know that from birth to toilet training the average amount spent on disposable nappies alone is over […]

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Will Your Super Go the Distance?

I’m sure we were all HOPING to draw a winner in a Melbourne Cup sweep.  And if you had a win – well how LUCKY was that! However, when it comes to our retirement, the amount of funds we require to GO THE DISTANCE is best NOT left to chance…  Are you hoping for a comfortable lifestyle in retirement? If so, have you started planning for that lifestyle, or are you still gambling with the odds?  Why do we ask? Because sadly, too many of us eventually discover there is a wide gap between our hopes and our planning. How much do you need to live a […]

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How to keep the homeownership dream alive

5 ways to save for a deposit while renting Bessie Hassan | Money Expert at finder.com.au If property prices keep going up, renting could become the new buying. Many Australians are disgruntled by the relative unaffordability of Australian property and as a result, we’re turning to renting as an alternate solution. While housing affordability is a real issue, we must remember that owning property isn’t completely out of reach if we’re prepared to do some serious saving.  A new finder.com.au survey of 2,006 Aussies found that while 57% of respondents had a foothold in the property market and lived in […]

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Family…to help or not to help

Do you have children trying to get into the property market? Are your children wondering if it will ever be possible to buy a property in today’s market? Outgoing Reserve Bank governor Glenn Stevens stated that the only way for young people to get onto the property ladder in Australia’s most heated market – Sydney – is with the help of their parents. He’s not alone. A survey we conducted earlier this year found that nearly 30% of parents were worried whether their children would ever be able to buy a home. Most concerning, in the same survey, 66% of respondents […]

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