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Diana Clement

In the market for a credit card? Check out our credit card matrix before you decide

What’s the best credit card for you? Chances are it’s not the one (or ones) in your wallet. We Aussies are terrible at trying to justify our credit card choices. We come up with all sorts of ‘facts’ to confirm our poor decision. If you have an open mind, however, and navigate the complex matrix that is credit card choice, you are the one who will reap the rewards. When it comes to the matrix of credit card choice, the…

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Complete cheapskate: How to conjure up money from nothing

Do you want to conjure money up from nowhere? It can be done. Cheapskates spend almost NOTHING. They pop to the toilet when it’s their round to buy the drinks and trawl local free sites for unwanted pet bunnies to eat. Well perhaps not bunnies, even though it’s been done. But here are some cheapskate ideas to ratchet down your spending big time before your debts affect your credit score: Become a Freegan. It’s amazing how much free food you…

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Beat your brain (and better your bank balance) by understanding thought processes
Beat your brain (and better your bank balance) by understanding thought processes

Is everything you do with your money logical? Don’t fool yourself. Human brains were designed for fight or flight. There’s emerging research showing that even the smartest humans make stupid financial mistakes thanks to our prehistoric brains. Neuro-economists have found longs lists of “cognitive biases” behind why our financial decisions are so flawed. They’ve found that both amateur and professional investors alike are tripped up by inadequate evolution. So when you next fall into the needs versus wants trap, borrow…

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In the habit of ‘whacking it on the mortgage’? Start treating it like any other debt (and get ahead)

Need a new kitchen? Fancy that round the world trip? Just whack it on the mortgage. In 21st century Australia we extend the mortgage every time we have a bit of ‘spare equity’ built up. It’s like we’ve inverted the whole concept of borrowing and the aim of paying it off has disappeared out the window. If you don’t pay that mortgage down as you would other debt, you could be forced to work until you drop just to pay the…

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Swimming in debt? Or drowning? 10 signs you need to take back control

Are you swimming in debt? Or even drowning? You’re not alone, heaps of Aussies have that same feeling they are sinking financially. Debt has its uses and can be used to spread out large or unforeseen expenses. Being in debt all the time, however, isn’t okay and you need to use credit, not let it use you. But there is a way out. Debt can be whittled away one dollar at a time if you start today. So what is “too much…

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Good debt, bad debt. Know the difference.
Good debt, bad debt: Know the difference

Debt’s bad, right? No, it’s good. Okay, okay. It depends on the situation. Debt’s good if it has a positive effect on your financial future. It’s bad if you’re buying unnecessary stuff and falling behind financially. Good debt Debt can be an investment. But before you tell your mates you’ve ‘invested’ in a new surfboard or the best winter coat ever, read on. Good debt is something that you will make money from. Here’s how: 1. Home loans Homes go…

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Five ways to hack your mortgage and put money back into your own pocket

Big mortgages are daunting. Many Aussies pay almost as much in interest than the entire value of their home. The faster you can say “goodbye, mortgage”, the less your bank will make out of you and the more money will stay in your pocket. Try these clever hacks to cut the amount the bank makes off your mortgage. Better to keep that dosh in your back pocket than pay it to the bank. Hack 1 Make fortnightly payments If you cut the…

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Does customer loyalty pay?

You don’t get much in this life unless you ask. That’s definitely the case with your bank, your insurance company and utility companies. There’s a lot of money to be made there. And if we’re lazy, companies can maximise their profits. Don’t let that be you. By playing hard to get, or by ‘rate tarting’ (that’s shopping around for a better rate), you can have your loyalty rewarded. Understand your spending Before you storm into your bank or phone your…

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The pros and cons of going guarantor

‘Going guarantor’ are two dangerous little words. “Nan, will you go guarantor on my car? You don’t have to pay any money.” Stop right there. Going guarantor can be a great way to help others out. But it’s way more risky than most people think. Read this article before you say yes or no. The worst-case scenario is that the lender comes after you for the money. Parents have lost their homes from going guarantor and families have been torn…

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The four pillars of wealth: Your way to a richer future

There’s no magic in becoming financially fit. But Credit Simple’s Four Pillars of Wealth approach can help you get there. Going from debt to building wealth is easier than you might think. We guarantee there are people around you earning no more than you do who are well on their way to wealth. Here’s how to become one of them: Pillar one: spend less Do you know your needs from your wants? It’s only you who suffers if you’re not…

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