If there is a good chance you will receive a tax refund this year or by being thrifty you have accumulated some extra cash in your everyday account, try to contain the temptation to splurge or celebrate; instead make it work harder for you.
Read MoreTopics: Investment, Personal Financial Planning, Wealth creation
“Don't sail out farther than you can row back.” This Danish saying is sound advice for anyone thinking of borrowing to buy a home.
Read MoreTopics: Investment, Personal Financial Planning, Wealth creation, Debt Management
Saving a five figure sum usually takes a long time, and requires copious amounts of patience and discipline. In a world with low interest rates, a term deposit reaps returns for investors that are not much higher than the official cash rate. That makes other opportunities more enticing for investors who wish to seek higher returns on their savings. Here are three ways people can invest $10,000 that could result in a higher return than the standard term deposit.
Read MoreTopics: Investment
If you have been procrastinating when it comes to saving some money for retirement, you’re not alone. There’s always that new tech gadget to buy, that grand vacation to take. But you may be paying a higher price for these items than you realize. You may be giving up your chance to be a millionaire. Consider this: If you were to begin saving just $2,000 a year—$167 a month— at age 22 and you earned an average annual rate of 10% on your money over the years, you would be a millionaire before your 65th birthday. If you wait until you’re 30 years old to begin saving this amount, you will have less than $550,000 in your account at age 65.
Read MoreTopics: Investment
Investing in Australian property has boomed over the past decade, in part due to the generous tax claims property investors can make. We have picked three tax deductions on property investment that, if properly claimed, can help investors reduce their overall tax liability come tax time.
Read MoreTopics: Investment