People regularly ask me whether they should lend money to their adult kids, and in most cases my advice is simple… don’t. That may sound harsh, but it’s actually well intentioned. I’ve seen too many close friends lose big chunks of their savings when they act as a family bank and things go wrong. And… Read more »
This week Australia’s national savings scheme, the superannuation guarantee system, celebrates 30 years since inception by then Treasurer Paul Keating. Superannuation was a genius idea that has underpinned the wealth of every Australian and the stability of our financial system and economy. Keating’s legacy has been enormous. He also deregulated the financial system, floated the… Read more »
Around 8 per cent of Australians own an investment property and this year the ATO will be paying close attention to rental income, deductions, and capital gains. So a couple of housekeeping tasks as we close the financial year. These will make sure you get things right and don’t attract the taxman’s ire. 1. Keep good… Read more »
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Your Money
There are many things you can do to become a savvier saver, starting with demanding a better rate. Research by RateCity shows complacent savers are potentially missing out on hundreds of dollars in interest, as the gap widens between some of the highest and lowest savings rates on the back of the RBA hikes. The… Read more »
Your Life
Kids’ savings accounts are generally horrible when it comes to features and returns – but some are better than others. As a father of four adult children and eight grandchildren, I’ve always been interested in kids’ savings accounts. Libby and I have always tried to instil good savings habits (with mixed success) into our kids… Read more »
Your Business
Self-made millionaires follow a tried and tested formula that embraces success and hard work, writes Zaki Ameer. By Zaki Ameer Zaki Ameer was never interested in academic life. He failed at school, and began his entrepreneurial journey by selling cassettes to classmates. After moving to Australia to study for a Bachelor of Business, a chance… Read more »
Weekly money, life and business news delivered to your inbox.
People regularly ask me whether they should lend money to their adult kids, and in most cases my advice is simple… don’t. That may sound harsh, but it’s actually well intentioned. I’ve seen too many close friends lose big chunks of their savings when they act as a family bank and things go wrong. And… Read more »
This week Australia’s national savings scheme, the superannuation guarantee system, celebrates 30 years since inception by then Treasurer Paul Keating. Superannuation was a genius idea that has underpinned the wealth of every Australian and the stability of our financial system and economy. Keating’s legacy has been enormous. He also deregulated the financial system, floated the… Read more »
Around 8 per cent of Australians own an investment property and this year the ATO will be paying close attention to rental income, deductions, and capital gains. So a couple of housekeeping tasks as we close the financial year. These will make sure you get things right and don’t attract the taxman’s ire. 1. Keep good… Read more »
Think you have to be old or naïve to be a scam target? Think again. In the last 12 months, the Australian Taxation Office (ATO) has taken action against 595 websites impersonating their online services. These fake sites are designed to steal passwords, personal information and identity documents, such as passports and driver licences. Assistant… Read more »
Those on a fixed-rate mortgage could be in for a huge shock when their fixed term ends. RateCity analysis of the big four bank half-year results and APRA loan book data show approximately 38 per cent of home loans are currently fixed, in dollar terms, with the peak of people coming off their fixed rates… Read more »
This week the Reserve Bank (RBA) started to rebuild its credibility and get ahead of the inflation curve by lifting official interest rates by a higher than expected 0.5 per cent to 0.85 per cent… the biggest rate hike in 22 years. It follows well behind similar rate rises by Central Banks in the UK,… Read more »
NAB has launched of its new Buy Now, Pay Later (BNPL) product, NAB Now Pay Later, with NAB customers now able to pre-register for early access to the service. Unlike some other BNPL products, NAB’s offering has no late fees, no interest and no account fees. This makes it a potentially cost effective option when compared… Read more »
