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Financing a car

Everything You Need to Know Before Financing a Car

If you’re in the market for a new car, there are a few things you need to know before you take your new wheels for a spin. Ideally, we would all like to purchase a new vehicle outright, but for a lot of us, that’s simply not an option. This is where financing comes in. Let’s unpack everything you need to know about financing a car. How does financing a car work? A car loan is essentially a type of loan designed specifically to purchase a car. When it comes to financing a vehicle, you may have the option of … Read more

How much should you borrow

How Much Should You Borrow When Securing a Mortgage?

If you are wondering how much you should borrow when buying a home, you need to consider how much you can comfortably repay. Our online home loan calculator helps you work out how much you can borrow but working out how much you should borrow can be a little more difficult. Every lender has different requirements; most will review your income, financial commitments and debts. Essentially, banks need to consider the risks involved from their end when lending. They need to ensure you are in a comfortable position to be able to repay your loan now and into the future. … Read more

Benefits of Financial Planning

The Top Six Benefits of Financial Planning

Money. The five-letter word that can strike terror into the hearts of people and make them want to run for the hills and start a civilisation on a remote farm. This doesn’t have to be the case. Some of the most common questions we hear are: “what is financial planning?” and “what are the benefits of financial planning?” While they might seem a little overwhelming, we’ve got you covered on exactly what these questions mean. Ok, but seriously, what IS financial planning? Put simply, financial planning is all about assessing your current money situation, making a list of long-term monetary … Read more

buy.a house when you're single

How To Buy a House When You’re Single

Buying a house is one of the biggest decisions of your life. If you decide to buy a house when you’re single, you may feel overwhelmed by the growing mountain of costs, especially if you’ve previously lived with someone and shared expenses. Often when we think of the cost of buying a house, we may not consider ALL of the costs involved. If you don’t take into account things like stamp duty, rates, insurance, furniture, landscaping and fencing, they may come as a big reality check later on. While this may seem like a difficult feat, it’s not impossible, with … Read more

Tax

Superannuation and other tax-related end of financial year considerations

As we approach the end of the 2020 financial year, amid the chaos of the coronavirus, it is important not to forget end-of-year tax planning. We have highlighted some superannuation and other tax-related issues we think are worth considering. If you have any questions, or you would like to explore opportunities in your own year-end superannuation and tax-related financial planning, please do not hesitate to contact us.  Superannuation-related Considerations: In addition to normal employer contributions, there are a number of ways to contribute to your super, and each way can have a different tax consequence. We have detailed below the … Read more

Cost of pets

Exploring the True Cost of Pets

We all love our furry friends. They add insurmountable value to our lives. However, it’s important to consider the costs and the responsibility associated with pet ownership, particularly if you’re saving for your first home. While we don’t want to scare you away or turn you off giving a loving animal a caring home, we do want to encourage people to consider the various costs that can come with responsible pet ownership. We’ve unpacked the nitty-gritty of pet ownership below: Upfront costs In most instances, when you choose a new pet there will be some kind of ‘adoption’ or purchase … Read more

coronavirus

Unpacking the Impact of Coronavirus

The newspaper headlines over the last week would have us believe that COVID-19, also known as the coronavirus will bring on the end of the world as we know it. Negativity abounds with headlines like “Aussie Shares Suffer $210 billion Wipe-out”, “ASX Routed – 10% wiped off in a week” or “Pandemic Panic – Markets plunge”. My bellwether measure is my mum and when she comes to me and asks “Have I lost all my savings?” then I know the media’s scaremongering has gone too far and it’s time for me to present a more balanced view of where things … Read more

Money Tests

Money Tests to Pass Before you get a Mortgage

Purchasing your first home is one of the biggest and most exciting financial commitments you will ever make in your lifetime. So, it’s essential to pass some basic money tests beforehand so you can reduce potential financial strain down the track and determine whether you’re prepared to take on a mortgage. Debt and expenditure minimisation Do you use Afterpay? Have a few credit cards, or perhaps a personal loan or a car loan, as well as numerous digital subscriptions like Netflix or Spotify? If you answered yes, it’s time to think about reducing your outgoings. Determine your current debts. It … Read more

Micro-investment

Micro-investment Apps – Are They Worth It?

Are you investing in shares? Diversifying your assets? How about alternative investments? All of these concepts may seem rather daunting if you’ve never invested in anything before, which is why the fintech industry is experiencing significant growth, particularly, with a millennial audience. With the introduction of easy to use micro-investment options like Raiz (formerly Acorns), BrickX and Spaceship Voyager there’s now an easy, low entry point for just about anyone. In this article, we take a look at some of the most popular apps of the moment. Raiz Formerly known as Acorns, Raiz is a micro-investing app that automatically invests … Read more

Budget-Basics

Budget Basics – A Comprehensive Guide to Getting Started

The word ‘budget’ can have frightening and scary connotations; however, it doesn’t have to! Think of a budget as a simple plan for where your hard-earned money goes each month. If you’re saving for your first home, a budget is essential. Lenders need to see that you are responsible with your money. Having a budget and savings pattern demonstrates a consistent and disciplined approach to your finances making you a more attractive applicant. According to a 2019 study that looked at how millennials manage money, 80% of millennials are likely to have a budget compared to 67% of older Australians. … Read more

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