- By Darren Smith With the New Financial Year upon us, many of the conversations around households are how the price of everything, particularly with staple spends of most families, is going in one direction: up.  Couple this with a fast-paced movement in interest rates upwards, it is paralysing many households, particularly those that have larger loans.  For those who are self-funded, the rising return outlook, particularly for lower risk option investments, are a little more upbeat but fearful of general uncertainty that prevails.   Unfortunately, the fear takes hold, and many ..read more

-By Darren Smith Just like the common flu, financial stress and poor habits can be caught by those that we work with, are related to, or are connected to. If left unchecked, it can have a significant impact on our mental health and our productivity at work. Progressive organisational leaders are taking concrete steps to increase financial literacy support and create a safe environment to improve discussions around managing money. The last 12 months has seen a significant increase in the headlines and commentary relating to financial pressures and the impact this is having on so many households ..read more

Money and all things related is one area that people are very cautious around sharing their experiences and this is something we need to get better at. It is a little like the tip of the iceberg; where what is visible on the surface may mask well what is happening below the surface, whether that be bad habits, poor understanding, poor experiences, or inherent bias. Individuals don’t want to be judged and prefer to fly under the radar.  Evident in our interactions, and quite often unnecessarily, people are very accepting of their existing position as their fate or set pathway.  Time a ..read more

You need a big picture or end outcome you are seeking before you can make sense of all of the pieces. Our financial wellness team get the pleasure and privilege to share stories, lessons learned and experiences around managing money. A lot of these come from direct or indirect lived experiences. Quality engagement comes from the authenticity and vulnerability we show when we are running sessions with teams, sharing both the things that have worked and perhaps the things that have not gone to plan. We also get the participants to share the same with us so we can listen and learn. We try and rel ..read more

-By Nicole Jankovic From 1 July 2023, the Queensland Government is set to change their commitment to superannuation payments so that saving for retirement is simpler and more flexible across all employee departments. What is changing? From 1 July 2023, Accumulation members will receive the equivalent of 12.75% in employer superannuation contributions (police Officers will receive 18%) regardless of their own personal contributions. Furthermore, both Accumulation and Defined Benefit members will have their superannuation entitlements based on ordinary time earnings (OTE). This means that shif ..read more

- By Nicole Jankovic Recently, Australian millionaire Mark Bouris shared his own traumatic experience with mortgage stress. It was the 1990s, interest rates were skyrocketing and he had to sell his family home. Sharing this has resonated with followers and news broadcasters alike because it appears that many are facing a similar fate. The purpose of rate rises; both from the RBA and individual lenders are complex. This article does not aim to delve into the motivation or rationale behind such movements. Instead, I’m sharing helpful methods for managing the onset of mortgage stress in your hous ..read more

10 hours of focused effort on your finances could help save you between $5 - $10k in annual savings. For many working Australians we are leaving potential savings in our spending on the table. Sometimes this is due to lack of awareness but quite often it is that we don’t make the time, or we start and stop because we get frustrated.  For many households rising interest rates are impacting our money mindset and in some cases our actions and behaviours. Specifically, when it comes to managing the increasing mortgage payments it is beneficial if you can keep well ahead of the minimum payment ..read more

By Nicole Jankovic Have you heard “failing to plan is planning to fail”? I think most of us have, but when it comes to the New Year the overwhelm of what lies ahead can leave us wondering where to start. Being a financial “planner” my bias is to begin with the household finances… but there’s a very good reason! Once you understand your money; specifically what comes in and what goes out dollar-wise, you can control it. Importantly, the plans you have for 2023 are far more likely to be achieved. Have you ever started a year full of aspirations only to find that you just can’t seem to make headw ..read more

Not long now until the festive season really kicks in and don’t we all need that extended break! There are new pressures lurking this Christmas with the urge to splurge on wants rather than needs. The internal voice will be a little stronger this year, telling us that ‘we deserve it’ after what we have gone without for the past 3 years. We are also exposed to relentless headlines focusing on emotional hardship and crisis which are exhausting and energy zapping. It is quite common for people to drift into the festive season and be caught up in the retail nudge, fighting for every spare dollar w ..read more

- By Darren Smith The changing financial landscape has impacted the stress levels of many households. The impact of the rising costs of living and the volatility that comes with global unrest dominates headlines and conversations. No one has a crystal ball, but it does reinforce that we need to focus on what we can control. One of those areas is our wealth and ensuring that it has a lasting purpose and legacy. For many Australians, contemplating what happens if we are no longer here can be overwhelming. Often we deliberately put our heads in the sand when it comes to preparation. We all work s ..read more