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What Should You Do With Your Mortgage Rate Cut?

So this week the Reserve Bank of Australia (RBA) cut interest rates by 25 basis points to new all time lows of 2.00%. Wooohooooo!!!! This is great news for those of us with mortgages. Provided the banks pass on the full cut, it is expected that the 25bp cut would save around $45 per month on a home loan of $300,000. So the big question is what should you do with the extra cash that you will have post the cut?

  1. Spend it
    This is one option and it is certainly what the Reserve Bank (RBA) would like us all to do. The whole reason the RBA are cutting rates to put more money in our pockets so we will spend it. This helps the economy as roughly 70% of the economy is consumption – you and me spending. The more we spend (up to a certain point) the better the economy […]

By |May 5th, 2015|Mortgages|6 Comments

5 Easy Ways To Sort Out Your Finances for 2015

I cannot believe 2014 has flown by so fast!!!  It feels like one minute it was January, then June, then for me November and December have just rolled into one!!!  Given 2015 is approaching fast, here are some easy ways you can sort out your finances in time for the new year!

1) Do a budget

Oh! I hear you groan. Don’t worry, I understand!  But the truth is that a budget does not have to be a complicated scary beast and it is the BEST way to keep control of your finances.  I used the MoneySmart website’s free budget planner and it was dead easy to get my budget done.  If you want to check out the planner click here, or if you want to read about how I did my budget click here.

2) Boost your income

There are lots of ways to boost your income but one […]

By |December 21st, 2014|General Finance|6 Comments

How Do I Know If I Have Enough Superannuation?

I don’t know about you, but for me time is just flying by.  Even more so since we had our daughter.  Time seems to have gone into hyper-drive!!!  What is that???  One minute I was 27 years old, footloose and fancy free roaming the globe.  The next minute I am 41, married, with a mortgage and a four year old, hearing the word “Muuuuuummmmm” several million times a day.  A completely different life.  But somehow the years in between seemed to have just whizzed by.

And from what my mum tells me, time goes by even faster from here on in – next stop 50, then 60!  What the??????  I was pretty sure that this was never going to happen to me!  I guess it is!  So I had better make sure I am financially prepared for my retirement.  Especially given – if the current legislation passes– I won’t be able […]

By |December 4th, 2014|Superannuation|8 Comments

Surviving Redundancy

I think I am in a pretty unique position to write about redundancy.  You see, I have been made redundant twice during my career and my hubby was made redundant at the start of 2014.  So a score of 3 for our family so far.  The first time I was made redundant was in 2004, when the British hedge fund I was working for packed up its Australian office and moved back to the UK.  One minute we all had jobs.  The next minute none of us did.  The model we were trading off hadn’t been performing, so we kind of saw it coming.  Even then it was a shock.  The second time I was made redundant was in 2012.  It was my 39th birthday and I was 11 months in from my return from maternity leave when I was taken into the little room and told my services were […]

By |October 22nd, 2014|Budgeting|19 Comments

5 Easy Ways To Sort Out Your Superannuation for Spring!

Yayyyy!  Spring has sprung (not that you can tell from our recent weather!) and it is time to get cracking on sorting out all those things you have neglected over the cold winter months.  Now I am not just talking about getting rid of the dust bunnies hiding behind the furniture (guilty) but spring can be a great time to sort out your superannuation too!  I know most people would rather poke their eyes out with hot sticks than think about their superannuation.  However, the truth is that superannuation is your friend; it is there to help you out when you get older and want escape from the world of work forever.  Unfortunately nowadays you cannot rely on the pension to save you as governments creep the qualification age further and further away.  So do it!  Follow these five easy steps and sort out your superannuation for spring and keep yourself […]

By |September 8th, 2014|Superannuation|18 Comments

MoneySmart Week – Come And Join Me And Take Up A Money Challenge!

The first week of September is a very exciting week in my calendar.  It is MoneySmart week!!!  For those who haven’t heard of MoneySmart week, it is a week dedicated to taking simple steps to make a positive difference to your finances.  It is a fantastic opportunity to learn more about your money and improve your money management skills.

To help us all do this, this year the people at MoneySmart Week have come up with seven FREE money challenges:

  • Ditch your debt (credit and debt)
  • Sort your super (superannuation)
  • Manage your money (budgeting)
  • Protect what’s precious (insurance)
  • Build your worth (saving & investing)
  • Plan ahead (estate planning)
  • Female financial fitness

There is also an eighth challenge for Under 18s called Start Early!

Each challenge gives you 3 easy steps to help you get on top of that issue.  All the challenges are completely FREE!!

So, don’t miss this opportunity to get you finances in order.  Pick an area (or two, […]

By |August 20th, 2014|Budgeting|27 Comments

5 Websites That Will Help You Make or Save Money

The best ways to save or make extra money are the easy ones.  So here are 5 of my favourite websites that I have used to save and/or make me a little extra money.

(1) The Centrelink Payment Finder

Dealing with Centrelink is hard and quite often it is really difficult and time consuming to figure out what you are entitled to.  The Centrelink Payment Finder makes it really simple and quickly allows you to figure out what you could receive.  It is one of my absolute faves and has alerted me to potential payments that I had no idea I could receive.  Click here to check it out.

(2) Unclaimed Money

I love to do an Unclaimed Money search.  It takes all of 20 seconds and is completely free.  Potentially it could find you any lost bank accounts, shares or life insurance […]

By |June 25th, 2014|Budgeting|45 Comments

The Superannuation Co-Contribution – How To Get An Extra $500 Superannuation For Free

I am so excited – this year I qualify for the government’s superannuation co-contribution scheme and I am absolutely going to take it up!!  Let’s face it, there are not many ways you can get $500 for free, particularly from the Government!!!  However, this is one of them and it is really easy!!! Who would have thought!!!

So here is how you do it!  Pretty much to qualify for the full benefit of $500 you have to earn less than $33,516 and put an after-tax contribution of $1000 into your superannuation fund by the 30th of June 2014.  As long as you have put the contribution into your fund and you file your tax-return, the $500 will automatically be paid into your fund by the government.  (Click here to see the full criteria).

If you earn between $33,516 and $48,516, you will still get […]

By |June 19th, 2014|Superannuation|13 Comments

The Federal Budget 2014: What Does It Mean For Your Family?

Ok if the 2014 Federal Budget was all a bunch of gobbledy gook to you then do not worry you are certainly not the only one!!!!  Here is my take on what you really need to know about what was announced in the Budget and how it will impact you and your family!

  • If you get the Family Tax Benefit part B the rules have changed.  Only Families on a income of less $100,000 with children under six qualify.  Though existing recipients of Part B with children six or older will continue to receive payments for two years.
  • Planning to have a baby?  The new paid maternity scheme to start in July 2015 will have scheme payments capped at a payment of $50,000, as opposed the originally promised $75,000.
  • Going to the Doctor will cost you more:  Anyone who sees a doctor and gets bulk billed will pay $7 every time they go.  Non-bulk-billed […]
By |May 16th, 2014|Federal Budget|15 Comments

Three Easy Ways To Find Your Lost Superannuation

Loads of people I speak to have lost superannuation.  Actually, I think most people do, you simply change jobs a few times and lose track.  Easily done.  Well, until recently one of those people was my husband.  Yes, my husband had superannuation that had been lost in the system from a job he had ten years ago!

I cannot tell you how much this irked me.  Finding your lost superannuation is the quickest and easiest way to boost your superannuation balance, and it helps keep you off cat food in retirement.  Having explained this to my husband, I started a campaign to get him to move his superannuation.  So year one, not wanting to be the nagging wife, I would gently remind him that he had a new job and that he should move his superannuation.  Nothing.  Year two, I stepped up the campaign a notch and I printed out the […]

By |September 24th, 2013|Superannuation|12 Comments