There’s the old saying that you can’t put a price on love. But the Bank of Mum and Dad provided $2.7 billion to their adult children to buy property over the last year. The Productivity Commission estimates mum and dad as a collective would be between the 5th and 9th biggest home loan lender in… Read more »
Financial abuse is a powerful and dangerous form of intimidation which is a lot more common is Australia than you think. Wednesday was World Elder Abuse Awareness Day with older Australians being encouraged to stay alert for the warning signs of financial abuse and scams, coinciding with new CommBank research which found this age group… Read more »
Many parents are the reason first home buyers can enter the property market – but is this really the best idea? Rising property prices are good news for existing homeowners, particularly buyers over recent years caught by rate rises increasing repayments and property values falling. At least the risk of being caught with negative equity… 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 »
Last year, half a million Australians couldn’t afford to fill a script. Here’s what needs to be done to put a lid on rising health costs. Nearly every Australian uses some part of the health system every year, whether it be going to the GP, getting a prescription filled, or seeing a specialist. Despite having… Read more »
A growing number of kids are relying on the Bank of Mum and Dad to get a foot in the door. Here’s how to protect that foot from getting hammered. The Generational war between parents and their adult children over money has never been more intense or sensitive. The clash is over parents wanting to… Read more »
Each week we ask a question to help you focus on an area of your finances that might need a closer look. This week: How can I balance love and money? Let’s open a can of worms, shall we? Because if there’s one topic that is guaranteed to make us squirm, it’s love and money.… Read more »
While it feels impossible to save money these school holidays, it can be done. Here’s how to keep costs down while the kids live it up. School holiday spending can get out of hand. A couple of trips to the movies, a few lunches out, throw in a special activity like a theme park visit… Read more »
Each week we ask a question to help you focus on an area of your finances that might need a closer look. This week: What’s the best way to teach kids about money? One thing we definitely know about maximising your wealth: start as early as possible. Compounding is the key, so the sooner you… Read more »
Ensuring your parents’ finances are in order is a big part of taking care of them in their old age. It’s a funny thing when you realise that your parents are old. It makes you reflect on their lives and it’s probably when the responsibility of care shifts to you looking after them. We’re talking… Read more »
