editor, Author at Sort My Money

Boost Your Income

on February 28, 2022

𝐓𝐞𝐬𝐭𝐢𝐧𝐠 𝐭𝐢𝐦𝐞𝐬 𝐜𝐚𝐥𝐥 𝐟𝐨𝐫 𝐢𝐦𝐚𝐠𝐢𝐧𝐚𝐭𝐢𝐨𝐧, 𝐢𝐧𝐬𝐩𝐢𝐫𝐚𝐭𝐢𝐨𝐧, 𝐚𝐧𝐝 𝐢𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧 – 𝐲𝐨𝐮𝐫 𝐜𝐡𝐚𝐧𝐜𝐞 𝐭𝐨 𝐫𝐢𝐬𝐞 𝐭𝐨 𝐭𝐡𝐞 𝐜𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞! Ideally, extra income should be easier to earn. David suggests using what you already have, whether it’s items, skills, or space, and spending a couple more hours a week putting these to work. Even if these extra earnings are only part-time, they can seriously boost disposable income, because they are mostly “cream on top.” Do you want more tips? Email us at info@sortmymoney.com.au.

Guilt-Free Expenses

on February 25, 2022

𝟏𝟎 𝐭𝐡𝐢𝐧𝐠𝐬 𝐲𝐨𝐮 𝐬𝐡𝐨𝐮𝐥𝐝 𝐧𝐞𝐯𝐞𝐫 𝐟𝐞𝐞𝐥 𝐠𝐮𝐢𝐥𝐭𝐲 𝐚𝐛𝐨𝐮𝐭 𝐬𝐩𝐞𝐧𝐝𝐢𝐧𝐠 𝐦𝐨𝐧𝐞𝐲 𝐨𝐧. Building wealth isn’t all about saving money. Increasing your savings while spending your money is possible, as long as you spend it on the right things. Some of the items on this list are the following: a car loan, a coffee machine, and a platinum credit card. Not the items you expected? Find out how and when these items become valuable. Check out more items from this article featuring Sort My Money’s David Rankin.

Empower Kids with Financial Literacy

on February 23, 2022

𝐍𝐨𝐰 𝐢𝐬 𝐲𝐨𝐮𝐫 𝐜𝐡𝐚𝐧𝐜𝐞 𝐭𝐨 𝐢𝐧𝐬𝐭𝐢𝐥𝐥 𝐠𝐨𝐨𝐝 𝐬𝐚𝐯𝐢𝐧𝐠 𝐡𝐚𝐛𝐢𝐭𝐬 𝐢𝐧 𝐲𝐨𝐮𝐫 𝐤𝐢𝐝𝐬. 𝐎𝐮𝐫 𝐭𝐢𝐩 𝐚𝐛𝐨𝐮𝐭 𝐠𝐞𝐭𝐭𝐢𝐧𝐠 𝐩𝐚𝐢𝐝 𝐟𝐨𝐫 𝐞𝐱𝐭𝐫𝐚 𝐰𝐨𝐫𝐤 𝐰𝐢𝐥𝐥 𝐡𝐞𝐥𝐩 𝐲𝐨𝐮𝐫 𝐤𝐢𝐝𝐬 𝐠𝐚𝐢𝐧 𝐧𝐨𝐭 𝐣𝐮𝐬𝐭 𝐩𝐨𝐜𝐤𝐞𝐭 𝐦𝐨𝐧𝐞𝐲 𝐟𝐨𝐫 𝐜𝐡𝐨𝐫𝐞𝐬, 𝐛𝐮𝐭 𝐚𝐥𝐬𝐨 𝐢𝐧𝐝𝐞𝐩𝐞𝐧𝐝𝐞𝐧𝐜𝐞 𝐢𝐧 𝐭𝐞𝐫𝐦𝐬 𝐨𝐟 𝐟𝐢𝐧𝐚𝐧𝐜𝐞𝐬. It is important to give them a meaningful level of financial independence – even for those children who are natural spenders. The consequences of these habits – in the form of much lower savings than their siblings – will soon become apparent. By ‘feeling the burn’ now and getting used to getting rewarded for their work, they might just reform their ways […]

Try Bill Smoothing

on February 21, 2022

Infrequent utility bills can sometimes catch you off-guard. Bill smoothing involves a weekly, fortnightly, or monthly debiting by your provider. Based on historic usage, a consistent amount will be debited from your account, preventing you from making infrequent payments again. 𝙏𝙝𝙚 𝙗𝙚𝙨𝙩 𝙩𝙞𝙢𝙚 𝙛𝙤𝙧 𝙗𝙞𝙡𝙡-𝙨𝙢𝙤𝙤𝙩𝙝𝙞𝙣𝙜 𝙙𝙚𝙗𝙞𝙩𝙨 𝙩𝙤 𝙤𝙘𝙘𝙪𝙧 𝙞𝙨 𝙖𝙩 𝙡𝙚𝙖𝙨𝙩 𝙤𝙣𝙚 𝙙𝙖𝙮 𝙖𝙛𝙩𝙚𝙧 𝙥𝙖𝙮𝙙𝙖𝙮. Will you be giving this a try? If you’re already doing bill smoothing, let us know how it’s going for you. Email us at info@sortmymoney.com.au.

Set Reminders for Regular Monthly Payments

on February 18, 2022

𝐃𝐨𝐧’𝐭 𝐛𝐞 𝐥𝐚𝐭𝐞! Set a reminder for your regular monthly payments, so they don’t take you by surprise. A forgotten bill can become a setback, especially when the budget is tight. 𝙆𝙚𝙚𝙥𝙞𝙣𝙜 𝙖 𝙙𝙞𝙖𝙧𝙮 𝙤𝙛 𝙧𝙚𝙜𝙪𝙡𝙖𝙧 𝙥𝙖𝙮𝙢𝙚𝙣𝙩𝙨, 𝙘𝙤𝙣𝙨𝙤𝙡𝙞𝙙𝙖𝙩𝙞𝙣𝙜 𝙗𝙞𝙡𝙡𝙨, 𝙖𝙣𝙙 𝙖𝙪𝙩𝙤𝙢𝙖𝙩𝙞𝙣𝙜 𝙥𝙖𝙮𝙢𝙚𝙣𝙩𝙨 𝙖𝙧𝙚 𝙟𝙪𝙨𝙩 𝙨𝙤𝙢𝙚 𝙤𝙛 𝙩𝙝𝙚 𝙨𝙞𝙢𝙥𝙡𝙚 𝙩𝙧𝙞𝙘𝙠𝙨 𝙩𝙝𝙖𝙩 𝙬𝙚 𝙪𝙨𝙚. For a personalised financial plan, consult with our financial coach today. Email us your enquiries at info@sortmymoney.com.au.

Be Disciplined in Spending

on February 16, 2022

𝐆𝐮𝐢𝐥𝐭-𝐟𝐫𝐞𝐞 𝐬𝐡𝐨𝐩𝐩𝐢𝐧𝐠 𝐢𝐬 𝐝𝐢𝐬𝐜𝐢𝐩𝐥𝐢𝐧𝐞𝐝 𝐬𝐩𝐞𝐧𝐝𝐢𝐧𝐠. The trick is to keep an incidentals bank account solely for discretionary and emergency spending. Often, we are told not to spend and just save everything we can, but that’s not realistic. In short, this bank account will be for all the things that make real-life just that … real. 𝙋𝙪𝙩 𝙖𝙨𝙞𝙙𝙚 𝙖 𝙗𝙪𝙙𝙜𝙚𝙩 𝙛𝙤𝙧 𝙘𝙡𝙤𝙩𝙝𝙞𝙣𝙜, 𝙨𝙝𝙤𝙚𝙨, 𝙘𝙤𝙣𝙘𝙚𝙧𝙩 𝙩𝙞𝙘𝙠𝙚𝙩𝙨, 𝙪𝙧𝙜𝙚𝙣𝙩 𝙙𝙚𝙣𝙩𝙖𝙡 𝙖𝙥𝙥𝙤𝙞𝙣𝙩𝙢𝙚𝙣𝙩𝙨, 𝙛𝙞𝙣𝙚𝙨, 𝙚𝙩𝙘., 𝙖𝙣𝙙 𝙙𝙤𝙣’𝙩 𝙨𝙥𝙚𝙣𝙙 𝙞𝙩 𝙤𝙣 𝙖𝙣𝙮𝙩𝙝𝙞𝙣𝙜 𝙚𝙡𝙨𝙚. Now it’s up to you to decide if you want to spend your discretionary fund every month or let it accumulate. Need to learn […]