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…
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…
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…
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…
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…
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…
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…
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…
Your financial strategy should change as you age. Here is a general guidline for each stage of your life. Earn, growth Invest and save in your 20’s Your twenties should be focused on: earning money. investing in a long-term diversified growth portfolio. Earn, growth invest, leverage and reduce in your 30’s Your thirties should be…
The ATO might give you extra time to pay your tax or remove penalties if you experience financial difficulties. Further to these support measures, in the event of serious hardship (defined by the ATO as unable to provide food, accommodation, clothing, medical treatment, education or other basic needs for yourself, your family or dependents), the…
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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