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Putting money aside in savings is an important buffer against financial shocks, such as illness or a sudden job loss. But if you’re finding yourself talking about saving more but not actually doing any saving, here are five ways you can start saving now.
There are many benefits to saving – planning for the future, having access to money in case something unexpected happens and achieving your financial goals among others. To help you achieve those goals faster, here are some effective tips on boosting your savings.
Whether you would like to expose your children to other cultures, perspectives and experiences, or simply kick back and relax while the kids indulge in supervised water sports, an overseas family holiday can offer many rewards. It can also break the bank.
There are some expenses you simply have no option of cutting back on – rent or mortgage expenses, energy bills, insurance cover and food among them. Other budget-busting items are not so sacred and, with the help of a little self-control, you can stash more money into your savings.
Put simply, compound interest is earning interest on your interest income. It’s something investors use to their advantage – by reinvesting the interest they earn on an investment, they earn more interest on the growing amount.
Being financially prepared for an emergency is critically important in ensuring you can ride out any unforeseen events, but it is also a helpful strategy in securing the long-term health of your finances and minimising financial stress.
Does talk of saving fill you with dread at the idea of complicated spreadsheets, possible house arrest and bland budget meals at home? It shouldn’t, because adopting a savings plan is simple – and you don’t have to sacrifice your lifestyle to do so.
The summer months coincide with the Christmas season, tempting retail sales, school holidays and long nights made for dining out. It’s no wonder we end up spending more money than at any other time of the year.
From reusing tea bags to freezing credit cards in a brick of ice - these tips could help you save money, and even win some!
It’s easy to spend money without thinking – takeaway coffee twice a day, a round of drinks every time you go out, an impulse buy on the weekend. It’s often the little things that blow the biggest hole in your pocket, and it’s never too late to start being smart with your money.
The ability to manage money is a valuable life skill – it brings certainty to our lives and minimises our exposure to risk. Research has found that poor financial literacy indicates a greater chance of being unemployed, earning a lower income or experiencing bankruptcy.
Whether you’ve set your sights on the overseas trip of a lifetime or a getaway to one of Australia’s many beautiful destinations, holidays require research and planning – and a reasonable budget to cover everything from flights to accommodation and everything in between.
Financial education has been announced as an official part of the curriculum in both the UK and USA, but a subject dedicated to personal financial studies it’s still a way off for Australian schools, according to RateCity.
For most people, superannuation is something they’re happy to have but don’t give a lot of thought to. Yet as Australians live longer – retired men are expected to live to 86 and women to 90 – we may be running the risk of outliving our superannuation.
It may be a holiday, a new car or a deposit for your first home, but having a short-term savings goal can be an effective way to get into the habit of saving – with the added benefit of achieving the goal.
Jennifer Hawkins' engagement ring cost a reported $200,000, while Brad Pitt forked out a whopping $500,000 for Angelina's diamond, according to reports.
The piggy bank might be a bit depleted, but you still want a holiday. And, judging by the results of recent surveys, you'll probably find a way to take one.
Last calendar year, Australians spent $642 billion on general living expenses, according to ASIC's MoneySmart.
Australians may soon be able to buy savings accounts alongside their milk and bread.
Australian women tend to experience higher stress levels than men, and money is often a leading cause of anxiety, a new study has revealed.
Latest research shows that Australian households who are managing to tuck away savings each month are in the majority.
New laws allow for any bank or investment account not used for three years to be automatically closed and the money transferred to the Federal Government.
Becoming smart about money and planning for the future should be a priority - here's how.
A RateCity analysis reveals that institutions have slashed savings rates by 0.30 percentage points on average, which is more than the RBA’s 0.25 percentage point cut.
Four money tips every woman should know, and which could help men too.