We’ve all experienced a time, if not many times, when we pop to the shops to purchase a few goods only to return home with bundles of bags and a multitude of items we didn’t set out to buy. Perhaps the boss was a little extra grumpy that day or the kids were overtired. Maybe breakfast had been skipped or boredom had well and truly kicked in. Whatever the reason, overspending was the result and if it happens too often, finances can quickly dwindle.
Syble Solomon, executive coach and creator of Money Habitudes, has an acronym she believes people should always consider when out shopping: HALT.
Many people in the society usually spend their practical life making money and spending it. They do not even care about what are they going to do when the time of their retirement comes. These people usually end up having troubles in their later retirement life. So it is a wise decision for a person to plan his retirement at a proper time. Everyone should also keep this thing in mind that there is no age limit as to when one should start acting on his retirement plan. Continue reading
If asked, all of us would have a long list of to do list for our Government. But, does our government have that sort of funds to improve some important sections of our society without putting the ultimate burden on the downtrodden? Treasurer Joe Hockey has hinted otherwise and warned the people to be ready to bear the burden. Continue reading
Famous American economist, Dent, stated that the rise in the house price in Australia is a bubble and it is sure to collapse at the start of this year. He said that the current Australian house prices are unsustainable and would at least fall by 27% in the main cities like Sydney and Melbourne, in a couple of years. Continue reading
Saving more money is a common goal, but many people find it challenging to achieve their savings target. By setting realistic saving goals and developing good money habits, anyone can learn how to save more money.
Track what you spend
Most successful savings strategies starts with your being aware of all of your incomings and outgoings. A budget is the best way to monitor what you’re spending your money on. You can create a simple budget by downloading one of the many simple spreadsheets or word-processing templates from the Internet. Alternatively, there are apps designed to help you track your spending. Try to update and review your budget at least once every fortnight.
Ever wondered why the credit card bill is touching the sky when there is not a single expensive item purchased on the card? Melissa Leong in the Financial Post has the answer to the question. Continue reading
Loans can be excellent tools for achieving your purchase or investment goals more quickly. However, every loan comes with accumulated interest payable by the borrower. As such, the sooner the borrower repays a loan, the more they will save on the costs of the loan. You can pay off a loan faster if you save more, pay more often, and budget effectively. Here are some tips:
Lump sums and windfalls
Use any lump sums or windfalls to repay your loan. Instead of spending the proceeds from a lottery win, your tax return, or selling your car, use the extra money to pay off your loans and save on interest.
People are always told that they are not saving enough for their retirement. According to Yahoo Finance, however, people, sometimes, take up extra steps and start to over-save for their retirement, due to fear of penury. How do you find the exact goal to meet so that you would have a peaceful and financially stable retirement? Continue reading
It is never too early to start thinking about retirement. By planning early and having a well-defined retirement plan, you’ll have adequate income to maintain your lifestyle and fully enjoy your retirement years. Retirement planning can be a complicated process that involves financial management and a clear savings and investment plan, so here are some steps to help guide you through.
Step 1: Find out how much you need for retirement
A starting point is to determine how much you’ll need for your retirement years. How much you need will vary depending on your preferred retirement lifestyle, but the ASFA Retirement Standard serves as a useful benchmark or guide.
Every year, we hear different versions of how people get in the web of mortgages and eventually, have to lose their dear possessions. We have some good news for you: the old basic, trap-less mortgage is back.
Richard Cordray of the USA Today has stated that the Consumer Financial Protection Bureau issued the new rules to ensure transparent borrowing experience to consumers. Now, no more going from desk to desk at your bank for the remedy to your mortgage issues; it has all been eliminated. Continue reading