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  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…

Unclaimed money is defined as money that belongs to you but has been lost or forgotten due to a change in circumstance. It could be lost bank accounts, shares, life insurance policies or lost superannuation from changing jobs. Unclaimed money received by ASIC is transferred to the Commonwealth of Australia Consolidated Revenue Fund after 7…