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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Teaching children good financial habits

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financial habits

The best way that parents can pass on good financial habits to their children is to be in good financial habits themselves. Children pick things up from their parents by osmosis. If a child grows up in a family where finances are a drama because money keeps running out, the chances are that they will continue that financial roller coaster ride into adulthood. If they experience a childhood in which energy does not get wasted on day-to-day financial transactions because everything just flows, this ease and flow is likely to be reflected in their own finances later on. It’s a […]

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When is the time to start planning for Christmas? Now!

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budget planning

It’s that time of year when the kids are back at school, the summer holidays are already starting to become a distant memory and Christmas is starting to blur into Christmases of years gone by. In theory at least, life is getting back to normal. If, though, your Christmas was paid for on plastic, there’s probably nothing normal about the credit card bill or bills you are receiving about now. They can make for a stressful start to the year and have you wondering whether you will ever manage to break out of a relentless cycle of high-interest debt. By taking […]

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2018 Victorian Car Registration Initiative | Personal Budget

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Victorians will now be able to pay their car registration in quarterly or half-yearly instalments from January, two years after the Government flagged introducing the measure to help low-income families struggling with their bills.   This initiative gives all Victorians options (annually, 6-monthly or quarterly payments) regarding what has traditionally been one of the biggest single payments people make throughout the year – one which has been described by Emma King, CEO of the Victorian Council of Social Service, as an “annual wrecking ball through the family budget.” It’s these type of one-off large payments that people often struggle to […]

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Who’s Who in the Financial Zoo? | Budgeting Advice

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budgeting advice

If there is something you don’t understand about your finances, or something you wish to change, you might well turn to an accountant or a Financial Planner (aka a Financial Advisor), as these are seen as our society’s financial oracles. The only problem with this approach is that the solutions they give you will have a narrow focus – reflecting their respective areas of expertise. Accountants are tax minimisers. Financial Planners are product specialists in the areas of investments (including superannuation) and insurance. So the solutions you get from them will be based on tax, investments or insurance. Which is […]

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7 last minute Mother’s Day gifts under $20 | Shopping on a budget

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shopping on a budget

When shopping last minute, it’s easy to splurge and unintentionally overspend… When buying a gift, it can be difficult to find something meaningful if you’re shopping on a budget. But, don’t break the bank by overspending on items that aren’t necessary. If you haven’t included gifts in your budget in the lead up to Mother’s Day – don’t stress. We’ve come up with 7 Mother’s Day gifts under $20 that can assist you when shopping on a budget. Check them out below… 1. Photo Calendar Grab some family photos and get online! Personalised photo calendars are not only useful, but they also allow […]

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