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.
“Never invest in a business you cannot understand.” Warren Buffet
“Behind every stock is a company. Find out what it’s doing.” Peter Lynch
There are two key decisions in investment decision-making: the buy decision and the sell decision. By being aware of the common pitfalls of buy decisions, we can potentially save ourselves from a painful sell decision.
Social proof is an extremely powerful force. It’s often noticeable at intersections when a group of pedestrians are waiting to cross. Often, if one breaks rank, others quickly follow.
Guest post from from Lars Kroijer
With Donald Trump making headlines on an hourly basis and our social media accounts going crazy with comments on his presidency of it being an effective coup and a one-way route to the apocalypse, we are left asking ourselves: Should we perhaps change our investment strategy as a result?
In short the answer is yes, but perhaps not how you think.
In earlier blogs, I have outlined how I consider it highly unlikely for the vast majority of investors that they can beat the markets themselves through active stock selection, market timing, or via picking the one out of ten actively investment funds that may do so over a ten-year period. And that for your equity exposure you should pick as broad and cheap an index tracking exposure as you can get your hands on, namely a world equity index tracker. “Just” because Trump is now president of the United States, that is no less true. You most likely couldn’t beat the markets before November and still can’t.
The start of Autumn every year is a good reminder to make sure you’re on the right private health insurance plan. Why Autumn though?
On 1 April, premiums for health insurance rise by an average of 4.84%. So if you don’t take the time review your policy, not only could you be worse off financially but you could end up with the wrong level of cover – something that could cost you much more in the long run.
Being young and in love is pretty much the closest we’ll ever come to feeling bulletproof. There’s an undeniable confidence that rises to the surface when you’ve got age on your side and a heart bursting with emotion. Colours seem brighter, food tastes better and risk is relegated to the back of your mind as you carry on with reckless abandon. Live in the moment, right? Wrong. Eventually the pitfalls will catch up with you and suddenly you’re partnered up but penniless. Rather than forget about your finances completely, a little bit of future proofing can be the perfect foundation for your happily ever after. Read on to find out the most common mistakes young people make – and you can avoid them.
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.
Debt is an essential driver for growth in many businesses, and maintaining a sustainable level of debt as you grow can be a healthy way to finance your expanding business. However, having an unsustainable level of debt is all too common especially among small businesses. Every business should have a debt strategy that outlines how much debt is sustainable and how to manage or reduce debt.
Identify causes of debt
If you are considering a move overseas, then there are numerous financial and tax implications you will need to consider. However most of these implications are linked to one question you need to answer : Are you a resident or non-resident for Australian tax purposes?
Many people incorrectly believe that just because they move overseas, that they are automatically non-residents for Australian tax purposes. The Australian Tax Office takes a different point of view, and requires you to satisfy a number of tests before it will consider you to be a non-resident for Australian tax purposes.