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Profit reporting season is in full swing and more economic data is emerging that suggests, as expected, inflation is starting to peak and the prospect of an economic recession is fading. Look, this isn’t new if you’re a regular reader of Your Money & Your Life. I’ve been trying to calm the farm around all… Read more »
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 »
Turning tax dobber on your ex seems to be the ultimate revenge in a relationship breakdown. But its not just ex-partners who dob… Years ago I was chatting with a former tax commissioner about tax cheats and he was saying I would be amazed how many people get dobbed in by an ex-partner (relationship and… Read more »
Well, where to start when it comes to interest rates and the Reserve Bank (RBA)? Major speeches this week from the RBA Governor and Deputy Governor, plus the Federal Treasurer orders an independent “review” of the RBA’s performance, governance, mandate and inflation settings. Let’s start with the review. As you know, I’ve been scathing of… Read more »
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 »
