budgeting Tag

Should I use a financial advisor or do it myself?

This week I’m going to answer what is perhaps the number question people ask when it comes to financial advice. Drum roll, please…Should I use a financial advisor or do it myself? It’s a big one. The million-dollar question, if you will.  Before I get down into the detail of the pros and cons each way, I’d like to preface it by saying that we actually cater...

7 mistakes families make when building wealth

Wealth is all about building up your asset base.  This is something that I’d argue is vitally important for families, in particular. It’s not just about owning your own home (preferably your ‘dream home’). It’s about building your asset base to a point where you can start generating passive income to fund sending your kids to the right school and funding your family’s lifestyle well into retirement.  If...

Don’t have a will? Here’s what you need to know

 This week I want to touch on something I haven’t covered in previous blogs. Nearly half of adult Australians don’t have a will. That’s a lot. If you don’t have a will, that’s certainly no criticism, but more to say that you’re not alone. To be fair, it’s not something that’s really top of mind for your average Joe. And fair enough – no one likes to...

Pay less tax. Here’s how!

No one likes paying tax. Let’s face it. Actually, I’ll qualify that by saying ‘too’ much tax.  There’s the often bandied about reason for the rich getting richer.To that I’d argue that anyone with a bit of wealth-driven nous is using the laws of the day – legal tax breaks, tax structure et al – to get their taxable income down and use potential return...

Kids bank accounts
Setting up a kids’ bank account

  Have young kids? Well, now’s the time to introduce them to the concept of saving, and there’s no better way to do that than opening up a bank account for them.  As parents, we play a critical role in educating our kids around money and, within that, establishing positive habits around spending and, more importantly, saving. To this end, if you’re good with money, chances are,...

Demystifying debt – bad vs good!

The word ‘debt’ cops a bad wrap, in my opinion.  Mention debt, and our minds tend to jump to the negative connotations of the word. And rightfully so. ‘Bad’ debt is exactly that – not great. Meaning, any debt that’s not going to make you money over the medium to long term (aka building your wealth) is something you want to avoid like the plague.Well, as much...

trade war
The US & China Trade War: What you need to know

Trade wars aren’t new. They’ve been played out throughout the annals of time.  So why is the US-China Trade War, which seems to escalate with every passing week, any different? Well, that’s a tricky one to answer. The short answer is the global economy’s been on pretty shaky ground since the Global Financial Crisis.Meaning the world’s two largest superpowers rattling their sabres is shaking what are...

Should I put $600K into my kids’ education or invest it?!

Life’s all about trade-offs, particularly when it comes to financial goals. Now, I’m not going to get into the whole public vs private school debate and which is better. Private schools are expensive – we know that. The financial trade-off is enormous.To give you an idea, sending our two girls through six years of private education (high school, basically) will mean we’ll need to fork out...

Meet the budget for budget haters!

Budgeting sucks. I get it. Unless you’re someone who takes great pride in creating intricate Excel spreadsheets that break down every aspect of your weekly spending in forensic detail, budgeting can be a pain in the you know where.If you can’t be bothered, like to keep your head in the sand with your finances while fearing the worst, or shy away from getting ‘bogged down...

Bad with money
Four Telltale Signs That You Could Be Better With Money

How good are you with managing your money? And don’t worry – it’s not a trick question. The reason I ask is you’d be surprised at how many people make it well into adulthood without learning the basics of good money management.In Australia, we’re talking almost half the adult population, according to the Australian Bureau of Statistics. Meaning, around 45 percent of Australians...

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