Personal Finance

  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…

    For services, always get 3 quotes minimum. We shop around for the best price on TV’s, cars, and other products but seldom get enough quotes and trades and services. It is important to get at least 3 quotes so that you can compare the market. You might not make your decision based on price,…

When embarking on a large financial project such as building a new house, renovating your existing house or starting a business, it is important to have a budget. Without a budget, it is easy to spend beyond your means, resulting in unintentional debt. This can affect your financial standing and quality of life for many…

Saver Plus is Australia’s award-winning free financial education and matched savings program. The program supports families and individuals on a tight budget to develop lasting savings habits through financial education. They also put $500 towards your children’s education but matching your own savings up to $500. Saver Plus is a partnership between The Brotherhood of…