Changing your home loan repayment schedule from monthly to fortnightly can save you a small fortune by helping your pay your mortgage off faster. My mates at Compare the Market (where I am Economics Director) crunched the numbers and found that a person with a $600,000 loan could save over $160,000 in interest over the… Read more »
Borrowing power has plunged over $260,000 for some Australian families, trapping many mortgagees that can’t qualify for better rates, and hampering house hunter hopefuls. Lenders have been far more cautious in an effort to offset the risk of recession and higher rates that could impact long-term serviceability. Fixed rate borrowers who have just had their… Read more »
I know you’re sick of me always saying you need to constantly shop around for the best deals on everything. But it’s so important. Those who have been following me for a while know my wife Libby is the world’s best when it comes to household finances… she has managed ours ever since we were… 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 »
It can feel like a never-ending cycle of pain, but there are things you can do to ditch the debt and step off the carousel. There’s nothing worse than feeling overwhelmed by debt. It is a harrowing experience which can often seem to have no end. But there is a solution. It is never quick… Read more »
Just when you thought you’d reached your limit, life throws more unexpected challenges directly in your path. How can you possibly go on? Life is kicking many a*ses right now. The floods have devastated parts of NSW and QLD, the rain won’t stop and while it might be having a rest from front-page news for… Read more »
Take it from someone who’s learnt the ins and outs of the sharemarket the hard way; it’s expensive, exhausting and a waste of time to learn your own investing lessons. By Alex Brophy They say financial markets have short memories, which is why they always seem to fall down the same holes. Rampant speculation, asset… Read more »
Managing money in your 60s is all about getting your retirement ducks in a row and moving onto the next phase of your life. In your early 60s, retirement is likely within reach and it’s time to be thinking about it at a microlevel. Planning for retirement should focus on planning your finances for life… Read more »
In my life and in the work I do with clients, one thing is for sure: Spending wisely, is something only about half of us implement with any real success. Then there are those at the extreme end of frugal. This is not something I agree with, unless you are on the poverty line or… Read more »
Sit back and watch your money grow with these clever passive income ideas that will diversify your income without taking up your time. Passive income is the key to taking back your time and growing your money. It’s basically another income stream that doesn’t require your time on an ongoing basis. So while you may… Read more »
