Category Archives: Financial Wellness
Transitioning into Retirement: What You Should Know – Vanguard Report
Explore key considerations for transitioning into retirement and understand your options for accessing superannuation savings with insights from Vanguard. Continue reading
Posted in Financial Planning, Financial Wellness, May Vanguard, Retirement Planning, Superannuation, Vanguard Insights
Tagged Financial Advice, Pension, Retirement Planning, Retirement Savings, Superannuation, Vanguard Insights
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How much do you need to earn in retirement? -Vanguard Report
Learn about the latest rise in the Age Pension rate and how it affects retirement planning. This article from Vanguard provides insights into the cost of living in retirement and the benefits of good retirement planning. Continue reading
Posted in Economic Insights, Financial Planning, Financial Wellness, Investment Strartegies, Lifestyle & Well-being, May Vanguard, Retirement Planning, Superannuation, Vanguard Insights
Tagged Age Pension, Cost of Living, Financial Advice, Financial Planning, Retirement Lifestyle, Retirement Planning, Superannuation, Vanguard Insights
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Fin-fluencer or financial adviser
Kim Kardashian’s fine from the SEC for promoting cryptocurrency without disclosure highlights the risks of following ‘fin-fluencers’. Research shows that professional financial advice significantly improves investment outcomes. Learn why relying on experienced financial planners is crucial for securing your financial future. Continue reading
Posted in Consumer Behavior, Economic Insights, Financial Literacy, Financial Planning, Financial Wellness, Investment Strartegies, Legal Advice, Personal Finance
Tagged Cryptocurrency, DIY Investing, Financial Goals, Financial Markets, Financial Peace of Mind, Financial Planning, Finfluencers, Investment Advice, Kim Kardashian, Long-term Strategy, Professional Advice, Queensland University of Technology, Risk Management, SEC, Vanguard Investments
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Cybersecurity – Identity theft and prevention
The alarming increase in identity theft and scams highlights the importance of cybersecurity. This article provides essential tips to protect your personal information and prevent identity theft, along with steps to take if you suspect your identity has been stolen. Continue reading
Posted in Consumer Behavior, Cyber Security, Financial Health, Financial Wellness, Personal Finance, Support Services
Tagged Cybersecurity, Data Breach, Financial Security, Fraud Prevention, Identity Theft, Internet Safety, Online Privacy, Online Safety, Personal Information Protection, Scams
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Financial recovery: should you DIY or outsource your debt management?
Australia’s average household debt rose to $261,492 in 2021-22, while disposable income grew modestly to $139,064. With rising debt levels, interest rates, and living costs, many Australians are turning to debt management companies for help. These companies offer services like debt consolidation and creditor negotiation but come with their own set of pros and cons. Alternatively, DIY strategies such as budgeting, negotiating repayment terms, and seeking government assistance can be effective. Understanding your options and taking proactive steps are crucial for financial recovery. Continue reading
Posted in Credit and Loans, Debt Management, Economic Insights, Financial Health, Financial Planning, Financial Wellness, Personal Finance, Support Services
Tagged Australia, Budgeting, Cost of Living, Credit Cards, Credit Score, Debt Consolidation, Debt Management Companies, Debt Management Fees, Debt Reduction, Debt Repayment Prioritization, Debt Statistics, Disposable Income, DIY Debt Management, Financial Assistance, Financial Counselling, Financial Difficulty, Financial Literacy, Financial Recovery, Financial Stress, Government Assistance, Household Debt, Income Fluctuation, money management, Moneysmart, MyGov, Negotiating with Creditors, Outsource Debt Management, Repayment Plan, Rising Interest Rates, Spending Plan, Structured Payment Schedule
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How happy are you: measuring happiness across countries and generations
The 2024 World Happiness Report ranks Finland as the happiest country for the seventh year in a row, while the USA drops out of the top 20 for the first time. Serbia and Bulgaria show the most significant improvements, climbing 69 and 63 places, respectively, since 2013. Rankings are based on people’s assessments of their quality of life, analyzed alongside factors like GDP, life expectancy, and perceptions of freedom and corruption. This year’s report also introduces age-specific rankings, highlighting significant generational differences in happiness and life satisfaction. Continue reading
Posted in Community & Engagement, Consumer Behavior, Financial Wellness, Lifestyle, Lifestyle & Well-being, Personal Finance, Spiritual Perspectives on Wealth
Tagged Adolescent Wellbeing, Age Group Happiness, Boomers, Bulgaria, Children Happiness, Corruption Perceptions, Dementia, Denmark, Finland, Freedom, Gallup, GDP, Generational Happiness, Generosity, Global Aging Population, Global Happiness, Happiness Rankings, John F. Helliwell, Jon Clifton, Life Evaluation, Life Expectancy, Life Satisfaction, Lithuania, Millennials, Quality of Life, Serbia, United States of America, Wellbeing, Wellbeing Research, World Happiness Report
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How having a flat tyre could send many Australians flat broke
The Australian Bureau of Statistics reports that the national saving ratio has plummeted to a 17-year low of 1.1% of total disposable income. Nearly half of Australians have less than $1,000 in savings, with 20% having no savings at all. This financial instability is causing significant stress, with 76% of respondents feeling strained by their current situation. The stark contrast between the average savings of $36,095 and those struggling underscores the divide. With many Australians living paycheck to paycheck, even minor emergencies like a flat tyre could push them into debt. Experts urge the importance of building a savings buffer and finding ways to reduce expenses and increase income to alleviate financial pressure. Continue reading
Posted in Consumer Behavior, Credit and Loans, Diversification, Economic Insights, Financial Planning, Financial Wellness, Lifestyle, Lifestyle & Well-being, Personal Finance
Tagged Australian Bureau of Statistics, Australian Economy, Australian Household Expenditure, Buy-Now-Pay-Later, Consumer Research, Cost of Living, Credit Cards, Disposable Income, Emergency Savings, Expense Reduction, Financial Advice, Financial Planning, Financial Stress, Finder’s Consumer Sentiment Tracker, Flat Tyre, Graham Cooke, High-Interest Savings Account, Income Streams, Investment Advice, Loans, Pay to Pay, Saving Ratio, Savings, Savings Buffer, Savings Goal, Super Savers
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Dozens of Australian businesses have gender pay gaps above 50%
Australia’s national gender pay gap stands at 12%, with men earning an average of $1982.80 weekly compared to $1744.80 for women. This disparity results in women earning 88 cents for every dollar earned by men, amounting to $12,376 less annually. The data, excluding overtime and junior or part-time employees, reveals significant state and industry variations. Western Australia shows the highest gap at 21.7%, while the lowest is in Tasmania at 5.4%. Efforts to bridge this gap continue, highlighting the ongoing need for gender equity in the workplace. Continue reading
Posted in Consumer Behavior, Financial Planning, Financial Wellness, Personal Finance
Tagged ABS, ACT, Australia, Australian Bureau of Statistics, Construction industry, employee earnings, full-time earnings, gender equity, Gender Gap Statistics, Gender Pay Gap, gender pay gap by state, gender wage disparity, industry pay gaps, men vs women earnings, Mining industry, New South Wales, Northern Territory, private sector, Professional services, Public Administration, public sector, Queensland, Safety, salary comparison, South Australia, Tasmania, Technical services, Victoria, wage inequality, WEGA, Western Australia, Workplace Gender Equality Agency
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Building better money habits with your kids
Generally speaking, we Australians are pretty financially savvy, that is, we understand the how and why of effectively managing our money. Unfortunately, that doesn’t mean we put that know-how into practice to make astute financial decisions. According to the Australian … Continue reading
Posted in Financial Health, Financial Planning, Financial Wellness, Investment Strartegies, Life Events, Lifestyle, Lifestyle & Well-being, Personal Finance, Retirement Planning
Tagged Financial Literacy, kids, money management, parenting, saving habits
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Navigating Retirement: Two Approaches to Financial Independence
Steve and Sue Smith have worked hard all their lives, paid their taxes, and now that they have retired, they feel they are entitled to a full age pension. Jenny and John Jones have also worked hard and paid their … Continue reading
Posted in Financial Planning, Financial Wellness, Life Events, Lifestyle, Lifestyle & Well-being, Retirement Planning
Tagged AgePension, AssetManagement, FinancialIndependence, FinancialPlanning, PersonalFinance, RetirementIncome, RetirementPlanning, RetirementStrategies, Superannuation, WealthManagement
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