Business Advisory Strategies

Net Worth Report

4 April 2023

The formula for net worth/equity is assets less liabilities. The assets must be valued at market or realisable values. Periodically calculating the net worth of an individual, family, or company has the following benefits: Provide a simple snapshot of their ‘true wealth’ at a given time. Eliminates ‘fake wealth’, i.e. assets purchased/funded via debt (liabilities).…

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Five Signs Your Business is at High Risk of Failure

27 March 2023

With rising interest rates and inflation out of control, businesses are under more stress than they have been for a long time. The worldwide increase in interest rates over the last nine months has been the biggest and fastest on record. Consequently, many businesses are oblivious that they will fail or close over the next…

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How much are you spending on subscriptions?

25 January 2022

  Subscription-based services have become the financial model of the decade for a reason. Why give ownership to a customer for a one-time fee when the same customer can pay you every month for life on a subscription. How much are you spending on subscriptions each year? If you don’t know the answer to this…

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Good money habits are small and boring

4 January 2022

Good money habits are small and boring but make a big difference over time. First, figure out what you want. Are you trying to: Buy a house? Clear debt? Save for a life event such as a wedding? Create an emergency fund? Pay off your mortgage? Once you know your goal(s) and your timeline, use…

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How do we stop spending thousands on wasteful gifts each year?

21 December 2021

Whether you love or hate Christmas shopping, most of us are obligated to spend thousands each year on what ultimately leads to billions of tons of landfill the following year. And it’s not just Christmas. It’s the birthday of every kid in your child’s class. Easter, Halloween, Valentines, the list goes on. Endless consumption of…

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Big riches with small changes and little effort

2 November 2021

Small adjustments to our spending habits executed over our working life can have significant impacts on our retirement wealth, regardless of how little we earn. Take Susan for example who earns $750 per week. She rents an apartment in Perth and pays $400 per week in rent. She spends $200 on food and $150 on…

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Sell your house yourself and save $10,000

28 September 2021

The average engagement fee for a real estate agent to sell a property is $15,000. The pros of using a real estate agent are: Reach more potential buyers. Get the best offer from interested parties. Industry knowledge and advice e.g., know what your house is worth and how to get the most out of the…

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Managing personal debt when you’re young

7 September 2021

  There are so many options for credit these days, it’s almost impossible for young people to stay out of debt. You are financially vulnerable between the age of 18 and 25 and credit companies take full advantage. Companies target young people with the aim of getting them into as much debt as quickly as…

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Taking control of personal income tax

24 August 2021

Income tax is money paid to the federal government based on the amount of money you earn in a financial year less the expenses your incurred to earn that money. This is called taxable income.  Assessable income – allowable deductions = taxable income. The more you earn, the higher your tax rate. The Australian Tax…

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The real cost of buying cheap

10 August 2021

A decision we all must make. Do I buy a 20-year-old car for $5,000 or a new car for $25,000 with free servicing and a 7-year warranty?  Do I go with a cheap do it yourself kitchen or spend the money and choose premium materials, finishes and workmanship? To help us decide it’s important to…

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"You’d be stupid not to try to cut your tax bill and those that don’t are stupid in business"

- Bono: U2