Personal Finance

Bank of Mum and Dad Is it worth the risk

Bank of Mum and Dad: Is it worth the risk?

Interest rates are rising for the first time in more than a decade, which means Aussies won’t be able to borrow as much from the banks. This could push many to turn to the bank of Mum and Dad to help make up the difference. But Australian Family Lawyers head of asset protection Barry Frakes said there…
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10 clever ways to fight inflation and slash your costs

5 clever ways to fight inflation and slash your costs

When the global credit crack-up hit in 2008, the scramble to slash our spending overnight brought about a craze called cocooning. Very simply, cocooning is recreating restaurant, bar and cinema experiences at home… complete with DIY gastronomy, cocktails and popcorn. Today, fresh off interminable COVID lockdowns, cocooning is about as appealing as another nasal swab. But with…
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ATOs warning to 8 4 million Aussies working from home

ATO’s warning to 8.4 million Aussies working from home

The Australian Taxation Office (ATO) has its eyes on you if you’re one of the millions of Aussies working from home. The ATO has reminded people not to make the mistake of “double dipping” their deductions in their tax return. “Around 8.4 million Australians claimed nearly $19.8 billion in work-related expenses in 2021,” assistant commissioner Tim Loh said.…
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6 tips to avoid a bad property deal

6 tips to avoid a bad property deal

Have you heard the horror stories about unsuspecting property buyers falling victim to redirection scams? They buy a property and secure the deal by transferring their entire hard-earned house deposit to what they think is a conveyancer or real estate agent. By the time they realise it’s in fact a scammer hacking email accounts, it’s too late.…
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How to claim self education expenses on your tax

How to claim self-education expenses on your tax

Did you know you can better yourself at work, equip yourself with the skills you need to advance your career and claim a tax break on the costs at the same time? Self-education expenses are tax deductible if the course leads to a formal qualification, has a sufficient connection to your current employment and: Maintains…
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Cost of living another blow for first home buyers

Cost of living another blow for first home buyers

Rising property prices, the increased cost of living and surging rents are making life harder for potential first home buyers. Yet, the latest results for the February quarter from Andrew Wilson’s My Housing Market First Home Buyer Home Loan Affordability Index reveal a slight improvement in national affordability. This index measures the proportion of the average income required for the average…
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Young shoppers are loving this old school saving hack

Young shoppers are loving this old school saving hack

Browsing a catalogue for the best deals may feel antiquated but it has become an increasingly popular way for shoppers of all ages to save money. In fact, increasing numbers of shoppers are turning to catalogues – both online and print – to save money, according to a recent survey. The survey of 1,400 Aussie…
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3 misconceptions you have about inflation

3 misconceptions you have about inflation

After five years of fluctuating around the two per cent mark, the inflation rate in Australia has jumped considerably in the past 12 months. Measured quarterly, inflation is based on the change in the consumer price index; it hit 3.8 per cent in July last year and is currently sitting at 3.5 per cent –…
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Work from home Your boss may be able to force you back to the office

Work from home? Your boss may be able to force you back to the office

The much-anticipated – and perhaps dreaded – return-to-office protocols are coming into effect in organisations around the world with the COVID-19 pandemic gradually receding and organisations looking to restore pre-pandemic normality. But can your employer force you to return to office even if you are in no mood to resume working life as you knew…
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