Uni life taking its toll? If you seem chronically short of cash and struggling to pay for rent or groceries each week, you need a budget. A student’s finances won’t be princely sums to begin with, especially since we can’t work full-time amid our studies; but we can make our student finances stretch a bit further with some clever budgeting and some other financial tips.

Debt isn’t always bad: student loans for investing in yourself ... (read more)

Australians have a lot of financial obligations to keep track of. It’s not uncommon for a person to hold a dozen accounts with banks, lenders, service and utilities providers, clubs, retailers and more. Keeping financially afloat while the coffers are constantly diminishing is a wearying prospect, and the ongoing pressure of debt is a sign that things need to change. Loose spending and over-commitment can be reined in, but staying on top of finances requires a consistent and balanced approach. Often overlooked as a solution, a bank overdraft can provide smoother sailing for those who need to weather a financial storm.

The safety net of a bank overdraft provides peace of mind. Fluctuating fortunes can be balanced by using a bank overdraft for flexible access to money when it’s needed. When managed properly, an overdraft can provide leeway during times when money is short, with the account again replenished during more lucrative times. With an overdraft, funds are readily available, unlike other loan arrangements that lock borrowers in with rigid terms and conditions. Overdrafts have utility for both short and long term financial advantage when used wisely.

Advantages of a bank overdraft

A bank overdraft allows the withdrawal of funds in excess of the account balance. There are fees and interest involved, so understanding the advantages and disadvantages of a bank overdraft is essential to use it effectively. A history of responsible money management and a reliable income stream (or inconsistent but adequate earnings) are needed to access an overdraft facility. When used wisely, an overdraft can assist a person of average means to remain on top of finances, always having money on hand when required. There are quite a few bank overdraft facility advantages worth considering.

Timing the flow of funds is particularly useful for plugging cash flow gaps. Paying bills, clients and even employees can be difficult when expenses temporarily outpace income. Using an overdraft, it’s business as usual, without unwanted financial headaches and distractions.

Flexible bank overdraft arrangements mean the money is on hand whenever you need it. Interest is only paid on money used, so the overdraft facility can remain untouched and interest-free until needed. Flexible arrangements facilitate short-term and long-term overdrafts for meeting personal financial obligations and retaining composure even during occasional financial upheavals.

Late payment fees are an unwanted and unnecessary expense that way too many people experience on a regular basis. A bank overdraft facility will automatically make timely payments to business and service providers even when there is no balance in your account. Developing a relationship of trust and reliability with your bank results in financial give-and-take for everyone’s benefit.

Financial leverage is attained by accumulation of wealth, equity, and a good payment and credit history. A bank overdraft will ensure your credit record remains clean, while also helping you avoid embarrassing situations where a miscalculated bank balance leaves you short of ready cash.

Interest repayments on a bank overdraft are often minimal compared to other loans. With an overdraft, interest is only paid on funds utilised, whereas other loan arrangements demand regular and fixed monthly interest repayments.

... (read more)

Credit and debit cards have been in existence for decades and provide a familiar and convenient way to pay. The question is though, with the dash from cash, accelerated by Covid-19, what are the preferences of today’s Australian consumers when choosing between these two options? And what are the differences between debit and credit card protection?

To begin, we will explore the credit and debit card landscape in Australia. ... (read more)

It’s safe to mention that cryptocurrency is risky. For one, inefficient trading may lead to more financial loss than gain. Still, it’s possible to reduce potential losses and increase profit opportunities by understanding the fundamentals. In particular, you should learn the ins-and-outs of cryptocurrency maps, charts, and prices. 

Continue reading to know some essential aspects of these topics. By reading this article, you should gain sufficient knowledge of trading cryptocurrency.   ... (read more)

Getting approved for a loan or credit card isn’t always easy. Potential customers often have to jump through multiple hoops as part of the application process, and there’s no guarantee that this will result in a lender’s tick of approval either.

But this process may soon become easier for borrowers.

In late September, the government announced that it plans to stimulate the economy by removing the responsible lending obligation from the National Consumer Credit Protection Act (2009). ... (read more)

In any industry, one can never keep away from accounting processes. Any calculations in any business can be complex and tiresome. This is one reason why entrepreneurs—even small-scale ones—should hire a reliable accounting firm to handle all their accounting needs.

If you’re that kind of business owner, there are many accounting firms you can rely on these days. However, know that every company offers different services and varies in terms of reputation. Even if you’re in one country or state, quality offers may differ from firm to firm. ... (read more)

Over the last few years, there have been plenty of stories in our news sources about mostly casual and part-time employees being underpaid, and it’s not only corner shops and celebrity chefs being caught out, but our big national corporations as well. And while most of the issues have been related to overtime and other entitlements, regular, full-time salaried workers are not immune from being short-changed – especially in the area of superannuation. ... (read more)

The coronavirus pandemic is pushing many Aussies into financial stress. Job cuts, reduced hours and business closures have affected the take-home pay of millions of Aussies, with a full return to normal still a long way off.

If you’re struggling at the moment or you just want to batten down the hatches, below are eight simple ways to shape up your finances during this time.

Review your spending habits ... (read more)

Financing is important for small businesses in a variety of ways. Needing quick money often has connotations of having poor cash flow and not being able to meet your short-term liabilities. This is far from the only reason for needing business financing though.

Financing is often a solution for growth projects when businesses owners do not want to dilute equity any further. The conventional way to grow is to sell a portion of the company to an investor, in which you can raise perhaps hundreds of thousands without adding to your debt. ... (read more)