Make More Money

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It’s a catch-cry I hear more often these days, people looking for new ways to make extra money and there are more and more opportunities opening up to do just that.
If you have an idea that you feel is worth looking at please let me know and, if I think it is a possibility, I will list it here for everyone to see.
I have dedicated a special page to this called “Make Extra Money”.

So give it a look and give me your ideas to share!

Surviving the “Difficult” Times

It’s often said the secret of managing money is to live as economically the day after payday as you did the day before.

A little common sense and restraint can go a long way towards creating a healthy financial situation. The solution lies in gaining control of your spending and finding an enjoyable lifestyle suited to your income rather than your dreams!

Make a budget
Budgeting is one of the most effective tools for keeping your finances under control.

Take advantage of the free budget planners on the internet and you’ll soon see where you’re spending your money, where you can cut back and how you can pay your debt off quicker.

Budgeting allows you to set yourself goals for how much you want to save and by when. The more realistic and measurable your goals, the more chance you’ll stick to them!

Spend less
To improve your net worth, you need money left over from your pay packet to save, invest or reduce debt. Find ways to keep money in your wallet by going back to the budget and trimming your spending (see ‘Did You Know’ below).

Pay off debts
There is no point saving money in the bank while you have credit cards accruing interest. If you have money to spare, make more than your minimum credit card payment, prioritising the ones with the highest interest rates first.

Also consider rolling your credit card and personal debts into your home loan. By consolidating debt you reduce your short term interest payments, instead paying the debt off over a much longer term.

Go interest-only
Switch all or part of your loan to interest-only. If you’re struggling to meet repayments it is an effective strategy for cutting outgoings in the short term.

Extend term of loan
Extending your loan term by reducing your repayments will also help with immediate cash flow problems. Again, it’s an emergency measure because it equates to extra interest down the track.

Talk to your broker
If you are taking on a new loan, I can help you shop around for the best deal with features that are going to suit your needs.

It also helps to talk to us when times are tough, as we can work together to find a way through your financial difficulty.

Call 1300 133 193

Money Habits Start Young

If you’ve caught yourself telling your kids money doesn’t grow on trees, it’s a good indication they’re ready to learn about where money really does come from.

Educating your kids from an early age about the value of money is an important asset that will assist them through life (not to mention helping you survive the “I wants”!). Kids need to understand that money is a limited resource and not everything they want can simply be bought. Talk to your children about the difference between needs and wants and how to prioritise spending.

Start young by encouraging your children to hand over money when you make a purchase or press the OK button on the EFTPOS machine. Show them the value of money by explaining what a small amount like $1 can buy.

If you give out pocket money, use it as a method of introducing your children to the concept of saving. Encouraging the saving of pocket money in a piggy bank or bank account is a great way to establish sound financial habits for later in life.

Kid’s bank accounts can provide the discipline need to put money away on a regular basis. If you work with your children to come up with an achievable saving goal, they’ll get a buzz from watching their savings grow. Many childrens’ bank accounts are fee-free and come with newsletters and activity packs for your kids to learn in a fun way about the benefits of saving.

Young children may not understand the concept of money management immediately, but it pays to make an early start in what will be a lifelong education!