The Money Guide
Money tips to make your decisions clearer and easier
Teaching Kids About Money
My daughter Sophie, who is in year one, has been learning about money at school. They’ve made money boxes that sit on their desks and they appear to be earning (plastic) money. I’ve heard talk that this money will be used for a princess ball – but I’m not sure what the class princes and [...]
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Better budgeting
For many people the word “budget” conjures feelings of restriction. (Just like the word “diet”.) However a good budget should be the exact opposite. It should facilitate you having enough money for the things that really matter so you need not feel restricted. In this article I reveal a better budgeting technique using the model “Pay Yourself First (in practice)”
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Protect yourself from identity theft
Two months ago my sister, Julia was the victim of identity fraud. Two thousand dollars quickly disappeared from her bank accounts before she detected it. This week is National Identity Fraud Awareness Week (NIDFAW), so I encourage you to consider how you may be placing yourself at risk of identity fraud. Then act to prevent [...]
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Solving The Financial Decisions On Your Mind
On Thursday I conducted a webinar in which I addressed the top three types of financial decisions that are on your mind, as submitted in the recent survey. Almost all respondants said that they think about these things daily or a few times a week. That is a lot of time and energy consumed on [...]
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To Fix Interest Rates or Not?
With two interest rate rises already under our belts more people are asking me if they should be fixing their rates. Read on to discover the pros and cons and if fixing your interest rates may be right for you.
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The Three Fatal Financial Behaviours
Have you ever thought you are not getting as far ahead financially as you think you should, but are not sure why? Then maybe one or more of these three behaviours may be the cause.
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Take The Financial Pressure Down
Today is Stress Down Day, to raise funds for Lifeline. As part of their promotion of Stress Down Day Lifeline conducted a Newspoll to discover what was stressing Australians. The Newspoll found that two thirds of Australians are stressed about money, second only to being stressed about work. Does that include you? The Lifeline poll [...]
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On Track: Your new year review
The start of a new year is a fantastic time when we often look ahead to exciting possibilities. That’s what makes the start of a new year the ideal time for a quick, high level review of your financial plan to ensure you are still on track.
How to make money online
It’s very alluring – the opportunity to make loads of passive income, working from home running an online business that works for you 24 x 7. Internationally respected business thought leader and entrepreneur, Seth Godin just published an excellent list of 21 points about How to make money online. It is an essential read for anyone caught [...]
Cost of a self managed superannuation fund
Wanting to get more control of your superannuation and wondering what its costs to have your own self managed superannuation fund (SMSF)? There are several components to the cost of running an SMSF, including: Investment management fee Accounting fee Audit fee ATO supervision levy Professional fees for advice, administration and anything else you choose to outsource The [...]
Sell your old mobile phone and gadgets
Make money when you upgrade your mobile phone and gadgets. In this article I reveal how I just made some money from a 5 year old phone and how you can too.
Cash in your frequent flyer award points
In September 2001 I lost over 100,000 frequent flyer points when Ansett Australia collapsed. I had been accumulating reward points with the intent of funding an overseas flight. To that end I’d even paid for a domestic flight rather than use some of my points. What a waste! Back then it was a common complaint [...]
A mag about living the life you love
Whilst I write about money my deep belief is that it is all actually about living the life you’d love. That’s why I love this new magazine published by my mate Bruce Sullivan through his business 1 Life Do It Now. There are three big things I really like about the 1 Life Do It [...]
On Track: Your new year review
The start of a new year is a fantastic time when we often look ahead to exciting possibilities. That’s what makes the start of a new year the ideal time for a quick, high level review of your financial plan to ensure you are still on track.
A happy place for your superseded gadgets
Got a new gadget or two for Christmas? Maybe a new phone, tablet or digital camera? If the old, superseded gadget is still working it seems a waste to just throw it in the bin. Give it a second life by recycling it and get some money into your pocket. Another idea could be to [...]
Should you prepay private health insurance?
Is your income above $84,000 as a single, or combined income above $168,000 as a couple? Do you also have private health insurance? Then you should consider this opportunity before 30th June. Effective 1st July this year (2012) the Federal Government is reducing the private health insurance rebate for singles earning above $84,000 and for [...]
Freedom to be by their side with Children’s Trauma Insurance
Parents – please resist the natural urge to avoid this article because you don’t want to think about the topic. The tool I share below could save you considerable stress if misfortune strikes your family. What would you do if your child suddenly and unexpectedly became seriously ill? If something happened to Sophie or Isaac [...]
How to make money online
It’s very alluring – the opportunity to make loads of passive income, working from home running an online business that works for you 24 x 7. Internationally respected business thought leader and entrepreneur, Seth Godin just published an excellent list of 21 points about How to make money online. It is an essential read for anyone caught [...]
Are credit card surcharges worth the points?
When a retailer charges a surcharge for paying with your credit card do you pause and instead pay using EFTPOS (from your savings account)? Or do you say “that’s ok” and perhaps think “I want the points”? In this month’s Mens Health magazine (May issue) I’m quoted in an article on how to make good [...]
Matt’s Money Song (for a bit of fun)
In March 2008 I presented my “Cents, Dollars and Rock ‘n’ roll” presentation at the NSAA Conference in Melbourne. I closed the presentation with my adaption of a well known, ageless song. For a bit of fun, I’ve decided to share it with a wider audience – you. I hope you enjoy it. You may [...]
Hidden message in the aged care overhaul
The major changes to aged care announced last week by the Government reinforce one thing – if you want choice over where and how you live then be self-funded. If the Government continues to fund around 85% of the care costs then expect them to dictate the terms. And expect those terms to be strict [...]
Cost of a self managed superannuation fund
Wanting to get more control of your superannuation and wondering what its costs to have your own self managed superannuation fund (SMSF)? There are several components to the cost of running an SMSF, including: Investment management fee Accounting fee Audit fee ATO supervision levy Professional fees for advice, administration and anything else you choose to outsource The [...]
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Retirement lifestyle costs quick estimator
By Matt Hern on November 15, 2011
The ASFA Retirement Standard for the September 2011 quarter has just been released and reveals that “in general, a couple looking to achieve a comfortable retirement needs to spend $55,316 a year, while those seeking a ‘modest’ retirement lifestyle need to spend $31,767 a year.” One of the most useful elements of this quarter’s update [...]
Posted in Planning | Tagged ASFA Retirement Standard, Commentary, retirement planning | Leave a response