We continue with our series for each decade this time looking into the opportunities and considerations in your 50's. We reveal the average super balance, life expectancy rates and discuss the "care sandwich." This is the decade for fine tuning your finances in the lead up to the traditional retirement in your 60's. Join us as we envision what our own 50's will look like.
Your 40's are a decade of a life lived large, whether it is family milestones such as kids in high school, divorce, your income increasing, health changes, butfor most people feeling like you are finally starting to "adult." In this episode, we chat about our own journeys and highlight some of the challenges, opportunities and of course check in on the average super balance for this age group.
Your 30's are a whirlwind of a decade and often ends up being one of the biggest decades for responsibilities with finances, children and feeling the desire to make sense of it all when you have little to no time at all in which to do it. Tune in to this episode as Amber and Katherine focus on some key considerations for your thirties and the average superannuation balance most Aussies have at this age.
Your 20's are the years for figuring it out and having fun, but you also want to get your life sorted, start your career, think about your first home, relationships or maybe even when you may have kids. In short, there is a lot of decisions on your plate. In this episode, Amber and Katherine chat about the big financial decisions you'll likely make in your 20's and the difference it can make over the long run.
We all want our money to work hard for us. Whether you consider yourself to be cautious or are prepared to take a lot of risk with your money, time frames when you are investing are a major factor. Amber and Katherine chat about how your timeframe can in some cases overrule your comfort level so you can safely maximise your money. Includes tips on avoiding seemingly "safe" investments and the cardinal sin most parents make when saving money for their kids.
Welcome to 2022. If you are like us, you have a New Years resolution list to make improvements in your life whether it is financial, health, better habits or relationships. We delve into our goals and share some tools and strategies to boost your chances of succeeding in your endeavours, whatever they may be. If you want help with automating your budget, check out the Money Madams shop via https://moneymadams.com/shop/
2021 Has been a big year for property prices, crypto, superannuation fund returns, Covid-19 and rumours about how this impacts your insurance. In this episode, we look through the big events of the year as we wrap up for 2021. To watch Jimmy Rees take on NFT's and to have a good laugh you can watch his video here: https://www.youtube.com/watch?v=SnIKohrRz4E Thanks for listening and we'll be back on Monday 10th January....
You've asked for it so here it is. A full episode dedicated to all things defined benefit super. We are chatting with Naomi Horobin of Clover Group who lives and breathes defined benefit super funds. Defined benefit super funds play by different rules to regular super funds when it comes to your retirement benefits, so if you want to learn more, tune in! If you would like to learn more, Naomi is your woman! You can find her via her website http://www.clovergroup.com.au/...
In this episode, we go through your questions on borrowing to invest. Why do people borrow to invest and what sort of benefits come from using debt to invest? When is a good time to borrow to invest? What is the difference between borrowing to invest and debt recycling? What are the risks and potential downsides? What do some people do at the end? Your exit options. Plus many more aspects to help you understand this strategy. As always, please seek qualified and personalised advice before making...
Have you received a letter from your super fund to tell you that your super has been underperforming? Or are you simply wanting to ensure your super fund is a solid performer? You may think you NEED to change super providers. You can, but there are other options, and some important things to consider BEOFRE you do make any changes. In this episode, Amber and Katherine will talk through some options, what you should be considering, and some alternative options.
Join us as we chat with Marion Mays about Financial Literacy and the lessons learned on her journey to becoming a financial coach and mentor. Marion shares her insights on the biggest roadblocks we set for ourselves that limits our ability to have a good relationship with money. Marion also shares how she guides the people she works with to have more confidence and wealth in their lives. If you would like to learn more about Marion and the Thalia Stanley Group - you can find her at www.thaliasta...
Have you wondered whether you are going to have enough money in super when you retire? Do you know how much the average person will need for a basic versus a comfortable retirement? Would you like to know how to project where your super is headed and some changes that you could make to get you closer to the lifestyle in retirement that you want? If so tune into this week's episode. You can find the super calculator tool we used at https://www.commbank.com.au/digital/calculators/retirement#/start...
Being in the Defence Force often comes with a wide and varied range of perks from subsidised home loans, health cover benefits and generous super fund arrangements, but it can also bring with it a unique set of challenges. Join us in this episode as we chat with Trish Gregory from the MilSpouse Money podcast about the issues that both the worker and the spouse often have to navigate when one or both works in the defence force. Oh, and if you are ever moving to Darwin - it seems that bringing ext...
Not all conversations are easy, but when it involves the topics of Death, sex, or money, they are often especially difficult. If you can't talk about it, it makes it hard to learn about it. In this episode, Amber and Katherine chat about how they are handling these often taboo topics with their own kids to help them be prepared and ensure that the information comes from a trusted adult before it comes from the internet. We hope this episode helps you feel brave enough to have those awkward conve...
If you had died yesterday, regardless of what life insurance you have in place... How would your loved ones manage the admin aspects of your life? This is often the more frustrating aspect for your loved ones after you pass. What can you do to make this process easier? What info should you consider noting down, what should you consider when storing and recording your pertinent details? Join us in this week's episode as we chat about having a life admin back plan should you need one....
What's in a credit score? Do you need to apply for a credit card to build your credit score? Where can you find your current score and what can you do to improve your score... Should you ever consider paying someone to "fix" your credit score? Join us as we talk about all things credit scores and credit ratings. If you enjoy the show, please rate us on your favourite platform. Don't forget our promo code SUNRISE to get 20% off anything in store until the end of August https://moneymadams.com/sho...
It's tax time and the ABC has said the average tax refund this year is $2,800! What could you do to make your life better? Listen in as we talk through your options to help you find the balance between enjoying your potential windfall and using the money to make your life easier both now and for years to come. We love feedback, so please take the time to rate us on your fave podcast platform or write to the show via connect@moneymadams.com Use the code SUNRISE to get 20% off any items in our sto...
For most people the new financial year means an increase to the rate of super to 10%, but is this an extra payment from your employer? Or did it come at the cost of a wage decrease? Superannuation is constantly changing and in this episode, we talk about the changes that came into effect on 1 July 2021. Katherine also apologises for not checking her mic settings - doh! To check the best performing super funds you can head to www.superratings.com.au...
Income Protection is an essential cover for most people. Let's face it if you need your income, you probably need this cover. You probably already know that the terms and features can vary significantly but did you know there are big changes coming on October 1st this year? If you have been considering getting or reviewing your Income Protection cover, you'll want to listen in to this week's episode so you can decide whether you need to act before this date. If you would like Katherine to review...
Do you like the idea of knowing what it takes to achieve financial independence? Or perhaps the idea of being able to retire in your 40's or 50's appeals to you. Well, those ideas appeal to a large group of people and it's called the FIRE movement. In this episode, we chat with CaptainFI who is solidly on the path to FIRE and shares his story and explains what it takes to reach FIRE and nailing your number. If you would like to learn more about FIRE or CaptainFI's journey you can find out more v...
This week Amber and Katherine meet up with Dr Tom and Jump Daddy from the Dad to Me podcast, to chat about money lessons learned in childhood and how it impacts our money beliefs. We cover topics ranging from borrowing money from friends through to learning to have conversations with your parents or partners. Join us in this week's episode for plenty of laughs and learnings. If you've been enjoying the show, we'd love it if you could leave a review and rating on your favorite podcast platform. T...
It's been all over the news, but at the end of the day what does it mean for you? We've done the hard work for you and have a summary of changes that mean more money in your pocket, opportunities to boost your superannuation, new programs to help more people to become homeowners, and a range of other measures. So tune in, and remember to leave us a review : )
This week we welcome Jane Hadrill back to the show to talk all things property investment. Jane shares with us what makes a good investment property, where to find them, shares her top tips and her views on positive vs negative gearing. Join us for this informative and fun-filled episode. You can reach out to Jane via https://hadrillaccounting.com.au Lastly, if you enjoyed this week's episode, please share, like, and leave a review!...
What is debt recycling? In a nutshell, it's a strategy some people use to pay off their home loan faster while investing at the same time. It's like the old El Paso Taco ad... Why not have both? Debt recycling can be a great strategy to build wealth, gain tax deductions and pay off your home loan faster. In this episode, we explain what it is, how it works, what to expect, and the often overlooked aspects of this strategy. So tune in, and if you liked this episode, be sure to leave us a review!...
Have you been considering whether or not you should engage the services of a financial adviser? Have you then wondered where you should start looking, or whether it's something that's right for you? We know you have - you've asked us and so this week the Money Madams are here to help along with Scott Malcolm of Money Mechanics to answer your questions. If you have any other topics you'd like us to cover, please reach out to the show at connect@moneymadams.com . If you can, give us a rating or le...
Ever wondered how some people always seem to be able to get ahead? In this episode, we talk about a simple change you could make that can help set you up for life. We're talking no more car loans, taking the holidays of your dreams on a regular basis. Want to know more, tune in! while you are at it, please help us spread the word by sharing us with your friends or rating us on your favourite podcast platform.
Car loans are normal for most people whether you salary package your car or get dealer finance. The lenders will often tell you what they are willing to lend you, but how much should you really commit to spending on a car? In this week's episode, we discuss a rule of thumb to guide you on your budget. If you are in the market for your next car purchase, or you simply feel like there is never enough in your budget for bigger and better things, be sure to tune in. While you are at it, please take ...
We are all about getting a good deal - and that means avoiding lemons, especially when it comes to big purchases. In this week's episode, we chat to a mechanic and rally car enthusiast about: how to choose the right car for you, where to get advice, what to look out for when buying a used car, and talk about what's the deal with service scheduling and whether pushing them out saves you money.
Frugal February is here! If you are experiencing a financial hangover following the Holiday break, Frugal February is here to get you back on track. Like Dry July, Frugal February is a growing movement. It's all about getting tough on your budget and flexing that all-important will power to say no to unplanned and non-essential spending. Join us as we chat about Frugal Feb and share our ideas. If you wish to reach out to the show you can email us at connect@moneymadams.com...
Join us in this week's episode as we kick off a challenge to save a thousand dollars in weeks. We cover the six key steps to help you save your first thousand or boost the savings you already have. To get your hands on our Living Budget e-book and budget template combo for half price, use the code GetStarted and kick off your savings journey today!
