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Personal Finance Tips

 

There’s no better time than the present to get your personal finance in order.
Building wealth certainly doesn’t happen overnight and as much as property investment is key, this all begins with how you manage your money.
These articles offer the best advice from finance industry experts so you can learn how to benefit from long-term monetary strategies.

7 of the most common SMSF errors — part two
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7 of the most common SMSF errors — part two

Did you know that there are now more than 600,000 Self-Managed Superannuation Funds (SMSF) in Australia? Plus the average fund balance is more than $1 million?  SMSFs have soared in popularity over the past decade, especially because funds can purchase certain types of property to help grow their retirement wealth position. However, as outlined in…

How not to go broke
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How not to go broke

I was having a yarn on Twitter this week with some smart finance types & recounted a Charlie Munger quote about there being only 3 ways to go broke: ‘Ladies, liquor, & leverage’.  Sidekick Warren Buffett quipped that Munger only added the first two because they begin with ‘L’, implying that that the only way…

How much do you owe on your credit card?
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How much do you owe on your credit card?

If you’re like many Australians you’ve got quite a debt on your credit card.  The problem is for many people the money runs out before the month does and they borrow on their credit cars thinking the money in their limit is theirs.  And it isn’t — they pay for the privilege of using it. Finder.com.au’s…

Why is it wrong to invest for income?
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Why is it wrong to invest for income?

The goal for most investors is to accumulate enough wealth so your investment assets generate sufficient passive income to meet living expenses.  If this happens, it is no longer necessary for you to work for an income and you then have complete discretion over what you do with your time. Wouldn’t that be wonderful! However,…

6 Things I Learned by Not Spending Money for 30 Days
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6 Things I Learned by Not Spending Money for 30 Days

I love challenges. Especially when there is seemingly no reason to start them. That’s exactly what my wife and I just did.  A challenge. The challenge? To not spend money for 30 days. No reason, really. Just for fun. And yes, believe it or not, it actually was fun. Here are the results… The Terms…

7 of the most common SMSF errors — part one
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7 of the most common SMSF errors — part one

Self-Managed Superannuation Funds or SMSFs provide another avenue for people to create and manage their wealth.  Unfortunately, like many other highly regulated financial tools, they can be quite complex. In fact, there a number of common errors that people often make in SMSFs, which can be avoided with professional advice from the outset, of course….

15 ways rich people think differently
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15 ways rich people think differently

The rich think differently to the average person according to Steve Siebold, the author of How Rich People Think. If you’ve been reading my blogs you’ll know I’ve often said successful property investors think differently to the average investor. Anyway… in an article in Business Insider Sieblod recently explained the differences between how rich and average…

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