Planning for Financial Success

  • Planning for Financial Success

    Budgeting, Finance

    Most of us account for our money weeks or months in advance. Whether we use a spreadsheet, or simply mark dates on a calendar, we know that planning ahead makes…

  • Budgeting on an irregular income: A guide for sole-trader contractors and freelancers

    Updated on Budgeting, Investing

    Budgeting can be hard enough for those in regular employment, who need to cover today’s bills as well as, hopefully, tomorrow’s emergency savings and investment in their future. But if you’re a self-employed sole trader, you have three more financial headaches to add to the list: setting aside correct amounts to pay the ATO, covering your own super contributions, and dealing with periods when there is no income flowing in. It can seem like a formidable task, but with the right advice, you can create a budget that will help you to navigate this potential minefield.

  • How many bank accounts should you really have?

    Updated on Investing

    There’s no such thing as a perfect number of bank accounts that will suit everyone. But there are good reasons for avoiding the extremes of having only one account struggling to cover all your needs and goals, or on the other hand, having a large and confusing mix of accounts with different banks, some of which you’ve simply forgotten to close.

  • Teaching Kids About Money – Simple Ways to Build Healthy Habits

    Updated on Budgeting, Education, Investing

    Talking to children about money can sometimes feel awkward, but the truth is they are learning from us every day. The way we spend, save, and talk about money shapes their attitudes well into adulthood. By teaching kids healthy money habits early, we give them confidence and skills that will last a lifetime.

  • Talking Money, Strengthening Relationships

    Updated on Budgeting, Finance

    Money is one of the most common sources of stress in relationships. Whether it is with a partner, family member, or even a business partner, the way we think about and manage money can have a big impact on how we relate to each other.

  • Cheer today, debt tomorrow

    Updated on Budgeting, Debt, Finance

    From early November retailers have been telling us what we can’t live without and what our kids must have if they are to still love us on Christmas Day. It’s easy to get caught up in the momentum. Of course, the downside is you end up with the post-Christmas blues when the credit card statements arrive. This may mean that wealth plans get scrapped because you have to pay off the debt first.

  • Setting SMART financial goals that actually stick

    Updated on Debt, Finance, Investing

    In the context of your personal finances, SMART refers to setting clear, quantifiable, feasible and appropriate financial objectives, to be carried out within a defined time frame. You’re much more likely to succeed if you avoid vague, non-measurable, unrealistic and inappropriate aims with no actual deadline. Relying on SMART goals will help you stay on track as you shape your financial future.

  • The Hidden Cost of Lifestyle Creep – why upgrading your lifestyle too quickly can slow down long-term goals.

    Updated on Budgeting, Education, Finance

    It is natural to want to enjoy the rewards of hard work. A new job, a pay rise, or a bonus can make it tempting to upgrade your car, move to a bigger house, or start spending more on dining and holidays. This is called lifestyle creep, and while it feels good in the short term, it can quietly slow down your long-term financial goals.

  • Smart Ways to Use Your Tax Refund This Year

    Updated on Tax

    You may be one of many Australians who make an interest-free loan to the federal government every year. That’s because, when you receive a tax refund, you’re not getting free money. All that’s happening is that cash which is rightfully yours is being returned, somewhat late. So it makes sense to make it work as hard as possible once it’s back in your hands.

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