Winter Bills – Best Practices to stay in the black during the chilly season.

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We all want to stay warm through the winter months, but when the bills come in, and we see how much is being in spent, it can make your blood run cold. Winter is a tricky time for budgeting; there is no use freezing yourself to save on the energy bills, anything you save there you may end up paying back in sick leave. It’s all about balancing your usage intelligently. Here are a few areas to look at to keep you warm and in the black this winter. Utility Bills If the clothes dryer is part of the soundtrack […]

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5 expenditures you should be reviewing to save money this financial year

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As with the start of any new year, the start of a new financial year is a great time to save money by getting into new habits. Spending patterns naturally change as we move through different phases of our lives. It is important, though, to “clean out” our finances every so often, so that we are not accumulating financial clutter. If you don’t review your spending, you’ll be amazed at how many payments ‘fly below the radar’, outstay their welcome and become a drag on your financial progress. Insurance So, let’s start with insurance. Are you getting your money’s worth, […]

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Practical ways to teach your children about money

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Sort My Money founder and personal budgeting specialist David Rankin and two of his children, Lucas and Layla, caught up with Channel 9 Today Extra’s David Campbell and Sonia Kruger to discuss how to get kids into great financial habits for life. SONIA KRUGER: 66 per cent of Aussie parents are worried their kids don’t understand the value of money, and according to experts the rise of online banking and credit cards is to blame. DAVID CAMPBELL: Joining us with more is finance expert and father of three David Rankin and two of his kids Layla and Lucas – good […]

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David’s number one Budgeting Tip | Personal Budgeting

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Budgeting Tip

I often get ask what my number one budgeting tip is. My answer is not the oft-quoted budgeting tip of paying yourself first. Nor is it saving ten per cent of your earnings. My top budgeting tip is actually consistency. By, for example, consistently spending the same amounts each week on living expenses (food, drink, petrol and other day-to-day spending). Left to its own devices, this part of your outgoings can fluctuate wildly – hence the importance of making sure it is under control. Consistent debt repayments are a key ingredient of this budgeting tip. Going hard at that credit card or home loan might feel good […]

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Budgeting for the School Holidays

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Budgeting for the School Holidays

School holidays are a great time for our children to relax and wind down after the excitement of the school term and often to venture out for fun family activities. But while school holidays can be memorable events, with children spending quality time with their parents, beating the boredom and entertaining children during this period can often hurt the budgets of Australian families. The school holiday period really doesn’t have to break the bank, though. A well-run budget benefits you, as the budget keeps you on track at a time when it is so easy to overspend. In fact, a […]

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Mandatory Comprehensive Credit Reporting and what it means for you…

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Mandatory Comprehensive Credit Reporting and what it means for you… The Australian Government has proposed a change that mandates Comprehensive Credit Reporting (CCR) from 1st July 2018. Also known as positive credit reporting, the proposed CCR legislation mandates the reporting of positive, as well as negative, credit history – from Australia’s largest financial institutions. So what does this change mean for you? Today your credit history includes credit enquiries (such as applications for consumer credit and credit contracts) and negative information (such as significantly overdue accounts, defaults, serious credit infringements and public record information). Essentially, previously your credit reports only […]

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