Posts Tagged :

budgeting

Hospitality worker handing back card holding eftpos machine
What gets measured, gets managed (and minimised) – why you need a budget to get ahead

Do you know where your money goes each week, each month, each year? Like, do you really, really know? I have to confess that I didn’t. I knew I was paying off my mortgage at a faster rate than I needed to, but I wasn’t sure if I was on track to pay it off within the time frame I wanted. And I didn’t know how much I was spending on food or fuel or … frivolities. So I got…

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Let’s play Pantry Survivor – are you committing the seven supermarket shopping sins?

Because I’m both a procrastinator and a multitasker I recently found myself avoiding work by cleaning the pantry while listening to a recording of the Hobbit. Unfortunately, owing to my overactive imagination, as I cleaned and found packets of things I don’t remember purchasing, I could hear the small but persistent voice of Gollum quietly hissing: “What has it got in its cupboards, hmmm?” I don’t want to admit to Gollum that we have eight different kinds of flour. “Is…

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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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Parents behaving badly: How parents’ money habits can rub off on the next generation

The concept of ‘monkey see, monkey do’ is alive and well in Aussie families, and that includes when it comes to our parents’ habits with money. When parents behave badly with money, guess what their children do? As a parent, your role modelling is one of the most powerful indicators of how well your children will survive financially. Whether your children are two or 20 you can set them a better example. Don’t see money and spend it Do you see money…

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Are you YOLOing your finances?
Are you YOLOing your finances?

Before we had the Kardashians to keep up with (yes, there was life before the Kardashians), we kept up with the Joneses. The Joneses were more figurative than literal and didn’t have their own TV show; they represented the people next door who owned more (and better) gadgets than you. The Joneses and the Kardashians – along with social media, celebrity culture and reality TV – are responsible for creating the #YOLO attitude: You Only Live Once. It’s a lifestyle…

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What you need to know about balance transfer credit cards

A friend called me the other day in a panic because he suddenly realised he owed more than $2,000 on his credit card and had no way of paying it off in a reasonable fashion. “You work in finance,” he said, “what am I supposed to do now?” First I made him do the calculations to see how much interest he would pay on that $2,000. He’d blown it on dinners, drinks, and a new smartphone he didn’t need, and…

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How to build an emergency fund (and why you need one)

Last week I paid for an upcoming ski holiday in Canada. The trip isn’t until next ski season but it has to be paid in advance. Skiing in Canada is my idea of nirvana, so it wasn’t too painful to see the thousands of dollars flowing out of my account; after all, it’s going to a good cause. But this week, my car decided it needed a wheel bearing replaced plus a wheel alignment and new spark plugs. Then my dentist…

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Fatten up your finances with the Three Naughty Things rule
Fatten up your finances with the Three Naughty Things rule

Ever been on a diet? A really strict diet? Chances are, you went crazy about all the things you couldn’t have, felt way too restricted, and had a blowout with a tray of donuts and a one-litre tub of salted caramel gelato. (No? Oh… OK, just me then.) Your finances are a bit like a diet, only in reverse: if you succeed, your bank account is the thing that gets fat. But just like being on a diet, if you’re…

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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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