Money Tips Articles

The Power of Cash

The Power of Cash

This is adapted from a story that Lisa read many years ago and is a great reminder of the power of using cash instead of getting caught up in too much borrowing. It’s a bit lengthy but worth the read.

Buying a home is both an exciting and stressful event, particularly if it’s your first home. There are many costs that come with purchasing a home that you need to be aware of. Here is a list of things that you need to budget for.

Using a number of bank accounts can really help make managing your money easier. I’ve generally found that when people use a number of accounts they seem to have better awareness of their spending and therefore make better financial progress.

A great way to earn some extra income to help you get ahead is to rent out any spare rooms you have. You may not like someone else living in your home but the income you earn from them may be a nice compromise and help you achieve some of your financial goals.

Having a successful retirement takes some planning. ”Winging it" may not be the best strategy. Here are some common traits of those who have a successful retirement.

In the 15 years I’ve worked in the financial industry I’ve seen numerous people whose goal in life is to retire as soon as they can. I’m not convinced that’s such a great goal. Don’t get me wrong, if you have read any of my articles you know I’m always reminding people to think about the future; however at the same time you do need to live your life today. The magical question is, how much now versus how much in the future.

Is $274.90 per week enough to live on?

Is $274.90 per week enough to live on?

$274.90 is what you will each get when you get to age 65 if you are married and collect the government superannuation. If you are single and live alone you will get $357.42. Not a lot of money! Have you thought about how much you will need when you get to retirement?

Have you been saying to yourself that everything is fine? Your finances aren’t as bad as you think they are. Maybe you think that you are too young to think about your financial future. I would imagine that most people delude themselves in some areas of their financial lives. Some a lot more than others. Give some thought to what the financial decisions you make today might mean to you in the future.

The best mortgage is the one that gives you the greatest overall financial result. When you take out a mortgage take the time to consider the various types of mortgages that are available and think about which will suit your personal situation.

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