Month: July 2024

Household wealth or net worth is a measure of a household’s assets less its liabilities. Household wealth always generates a lot of interest in Australia which probably comes down to the obsession with housing. Around 70% of household wealth is tied to the value of the home (made up of land and dwelling). In the … Read more

Teaching kids about money The truth is, adulthood is rife with financial challenges. The more prepared your children are, the better. From budgeting and saving, to understanding the true value of money, read our guide on teaching your kids financial literacy. As a parent, you play a vital role in helping your child establish positive … Read more

As our family members or friends get older, it’s normal to worry about them and want to help. But it’s not that easy to know what to do. If you’re finding it tricky, here are some ideas to get the ball rolling. Start a money conversation Sometimes, it’s not easy for older people to talk … Read more

What is your ‘estate’? Your ‘estate’ includes everything you own – your ‘earthly possessions’, if you will. It can include for example cash, property, cars, boats, furniture, jewellery, family heirlooms, art, shares and more. What is estate planning? This is where you decide what will happen to your belongings after you pass away. By leaving … Read more

Average household wealth, and what it takes to rank among Australia’s wealthiest 1%. Being a billionaire isn’t what it used to be. Back in 1990, Australia had one of them – the late media mogul Kerry Packer. But these days Australia has lots. According to the just-released Australian Financial Review Rich List, there are now 150 individuals … Read more

A joint account is a bank account that more than one person can access. It can make it easier to manage shared expenses, but also comes with the risk of sharing access to your money. A joint account can be any kind of bank account: savings, transaction or term deposit. The type you choose depends … Read more

1. Make a budget It can be surprising just how much you need to spend before your baby even arrives. There are services and classes to book and pay for, as well as obstetrician costs to consider. You’ll also need to make the choice between giving birth in a public or private hospital. This means … Read more

Rather than worrying about day-to-day price movements, focus here instead.  If you checked on the status of your investment portfolio today, don’t worry. You’re definitely not alone. In fact, you may have looked at how your various investment holdings are faring multiple times by now, just to see how much you’ve gained or lost since … Read more

The rules around making some types of super contributions have been relaxed in recent years, so it’s worth exploring the different opportunities available to you before making a large contribution.i What are contribution caps? Given the tax-effective environment of Australia’s super system, there are annual limits on how much you can contribute each financial year. … Read more

The transfer of wealth and financial support from older Australians to their children and grandchildren is becoming a hot topic for families around the country. Australians over 60 are set to transfer an estimated $3.5 trillion over the next two decades1. And new AMP research highlights the challenges older Australians are facing about the best … Read more

Discounts, offers and rewards programs Cost of living is impacting people across Australia, with everything from rising interest rates to the weekly grocery shop contributing to the strain. While there isn’t one catch-all solution, there are different ways you can tackle the financial squeeze. Reward and discount programs may not seem like you’re saving a … Read more

The super changes the start of the 2024-25 financial year. A number of superannuation changes came into effect from 1 July 2024 and are designed to help working Australians get more money into the retirement savings system. If fully utilised, the changes potentially allow all super fund members, including those with a self managed super … Read more