As the cost of living rises, more Australians are teetering close to the financial abyss. Our consumer driven society has generated tremendous financial rewards for a minority of the population at the expense of everyone else, and the gap between rich and poor is wider than ever. We can’t all be rich, but nobody enjoys being poor, and while opting out of capitalist society is a dream worth considering, it isn’t possible for people with ongoing expenses, obligations, or a family to feed.
There are features unique to both financial saving and investing, and understanding their different attributes is important. Saving preserves and protects money, while also accruing compound interest, whereas investing allows money to grow within share market fluctuations. Both saving and investing are used as short and long-term strategies for financial gain.
Investing entails greater risk and is usually undertaken with astute financial guidance. On the other hand, saving money and accumulating capital is less complex and more familiar to most people. Saving with a bank is considered a safe alternative to rolling the dice on shares, especially if finances aren’t fluid enough to cover any losses. It’s possible to get rich quickly, but most fail trying, while the get-rich-slowly savings method will work for anyone with patience and foresight.
Surviving on a low income isn’t easy in times when the cost of everything is rising faster than the average wage. Financial obligations can be frustrating and fraught with uncertainty even with proper money management, while saving money can seem almost impossible during lean times. People who want to budget and save money on a low income do have options, but creative thinking is required and diligence is essential.
Bank cards are used for most financial transactions these days and people are familiar with the technology. However, there are differences between check cards, debit cards and credit cards that need to be understood. Bank cards can be used for financial freedom and financial restraint, ultimately assisting with money management – but only when used wisely.
Each type of card has its pros and cons, although they are all versatile and almost universally accepted. There are occasions where cash payment is still preferred, but almost everyone carries a check card, debit card or credit card. In fact, it’s not uncommon to carry a range of bank cards for specific purposes and payment options. Understanding the difference between check cards, debit cards and credit cards is relatively easy, as check and debit cards perform similar functions.
Weddings have always been special occasions worth celebrating in style. The tradition remains, and modern weddings are an opportunity for the bride and groom to shine. However, getting married is a huge step, and planning the event is a complex undertaking deserving a lot of consideration. The cost of a wedding can be overwhelming for couples who haven’t saved up for the big day, with dress, venue, catering, cars etc. all biting hard into the budget. A wedding loan could be the answer.
Compensation for this post was provided by Upskilled. Opinions expressed here are my own.
The need for greater financial literacy among Australians is undeniable. Negotiating the financial landscape is an essential 21st Century life-skill, with everyone required to manage money effectively in order to achieve financial and lifestyle goals. The importance of financial literacy hasn’t gone unnoticed by governments either. Initiatives including the National Financial Literacy Strategy 2014-2017 and ASIC’s MoneySmart Teaching program are specifically designed to assist Australians overcome financial hurdles after completing their education.
It used to be that people bought their phone under contract from their phone company. By signing an agreement with their telco which covered a couple of years, people secured themselves the latest iPhone and enough minutes and data to keep them going. When the contract was up, they upgraded to a new phone and the whole thing began again.
At the time, this sort of deal made sense. The phone companies, keen to grow their business, heavily subsidised the cost of the phone. Since a new device often cost hundreds of dollars, this prevented new customers from being deterred by a high up front cost. The 24 month term allowed the price of the phone + plan to be an affordable monthly payment.
Compensation for this post was provided by FindBroker. Opinions expressed here are my own.
Is there any real difference between a mortgage broker and a lender? While both parties can help you secure a loan, knowing the difference between the two will assist in deciding which would be better in your circumstance.
If you’re looking to purchase a property, for whatever reason, it’s almost sure that you’ll also be looking to secure a mortgage.
For most, this part is the most stressful, as you are required to give evidence of your credibility as a borrower. Additionally, you need to research all the available loan products to find one that’s suitable for your financial circumstances and has the features that you’ll require.
Choosing the right credit card seems more complicated than ever thanks to a competitive financial marketplace and diverse product developments. Fortunately, Australian banks provide credit card options tailored to suit individual requirements. Banks generally differentiate their premium credit card options according to colours such as platinum, gold or black, while lesser cards are not as imposing or opulent in appearance. Most banks in Australia and around the world advertise their black card as the premium product.
Compensation for this post was provided by inkl. Opinions expressed here are my own.
Front page news used to be important. However, in the rush to position themselves as viable online services, many news publishers diverted resources toward gossip journalism, in-your-face advertising and even clickbait articles. The concept of newsworthy journalism and commentary has become clouded. Serious readers are often left out in the cold or diverted to pulpy headline articles about funny cats, dogs and babies at the expense of major world events. The time is right to introduce inkl, the noise-free news service that delivers only important news and information provided by the world’s leading news publishers.