If you use your own car for work purposes, you could be eligible to claim a tax deduction for car expenses, whether you own your car outright, are leasing it or paying it off. The Australian Taxation Office explains that you can claim a deduction for car expenses if you use your car to: Perform…
There is no one perfect formula to achieve success, which is probably a disappointment for many people! Alas, too many people think they can simply follow one person’s individualised model of success and achieve the same stellar results. The issue with this idea is that everyone’s path can be very different because each person on…
You’d think that after 13 interest rate rises, the Australian consumer would be on the ropes, gasping for breath. But here we are, watching Aussies continue to spend like they’re in the ring with a featherweight, not a heavyweight. What gives? It’s a fascinating scenario that has defied all the economic forecasters who predicted an…
When I travel the country speaking to high school and college students about exactly what they need to do to become financially successful in life, I like to begin my presentation by asking the same three questions: “How many want to be financially successful in life?” “How many think they will be financially successful in…
If you’re like me, you like reading motivational quotes. I’m particularly intrigued by those of successful investors. Here are a few great ones… George Soros: Good investing is boring “If investing is entertaining, if you’re having fun, you’re probably not making any money. Good investing is boring.” Howard Marks: Investing is about more than selecting…
If you’re anywhere near my age (I’m going to be 50 very soon), you know you need to be investing a sizeable portion of your income. Not should be. Need to be. There are plenty of reasons for this, not least of which is the uncertainty around how much money you’ll need when you’re done working. But there’s…
Want to know the number one secret that the wealthy use to become rich? I’ll share that in a minute, but first let me ask you…given a choice, which of the following would you prefer? One cent that doubles every day for 30 days, or $1,000,000 In my opinion, most people would likely choose $1,000,000….
When I travel the country speaking to high school and college students about exactly what they need to do to become financially successful in life I always begin my presentation by asking three questions: “How many want to be financially successful in life?” “How many think they will be financially successful in life?” Almost every…
In a reflection of the ongoing financial strain on households, Australians spent a record $27.43 billion on personal credit card purchases in August 2024, according to the latest data from the Reserve Bank of Australia (RBA). This represents an increase of $814.3 million (3.1%) compared to the previous month and a staggering $1.23 billion (4.7%)…
My parents had many failings. I’m sure yours did too. But when do we stop blaming our parents for the person we’ve become? For some, this happens in their 20s. They make it through the tumultuous teenage years and they achieve clarity. For others, it doesn’t happen until the birth of their own children. Frankly,…
