What Happens If I Have More Money in My Offset Account Than Loan
Personal Finance

What Happens If I Have More Money in My Offset Account Than Loan

Offset accounts are great financial tools that can significantly reduce the interest you pay on your home loan. These accounts are designed to help homeowners save money by using their savings to offset the balance of their mortgage. But what if you have more money in your offset account than the remaining balance of your…

Barefoot Investor's Emergency Fund Strategy
Personal Finance

Barefoot Investor’s Emergency Fund Strategy

Scott Pape, popularly known as The Barefoot Investor, has devised an Emergency Fund Strategy, which stands as a fundamental element of his financial philosophy. This strategy offers a clear and practical approach to ready oneself for unexpected financial challenges. The strategy centers on the “Mojo” account, an integral part of a three-bucket system. This article…

Is Salary Packaging Worth It? Understand The Benefits
Personal Finance

Is Salary Packaging Worth It? Understand The Benefits

If you work for a not-for-profit organization, chances are you are aware of salary packaging. Salary packaging is your way of maximizing your take-home income and paying less tax in the process. In this article, I will explain why I believe salary packaging is worth it. What is Salary Packaging? Salary Packaging greatly increases your…

NFP Salary Packaging Benefits Explained
Personal Finance

NFP Salary Packaging Benefits Explained

Individuals employed in the Not-for-Profit (NFP) sector often seek ways to make a positive impact while facing the financial constraints inherent in their chosen field. To address this, the Australian Government introduced NFP salary packaging benefits, allowing employees to maximize their earnings while contributing to meaningful causes. In this article, we delve into the key…

CBB Salary Packaging Review: Unpacking the Benefits for You
Personal Finance

CBB Salary Packaging Review: Unpacking the Benefits for You

If you work for a not-for-profit organization, chances are you are aware of salary packaging. Salary packaging is your way of maximizing your take-home income and paying less tax in the process. In this review, I will unpack what Salary Packaging is, CBB Salary Packaging, the benefits of CBB salary packaging, Eligibility for Salary Packaging,…

Debt Recycling in Australia: A Wealth-Building Strategy
Personal Finance

Debt Recycling in Australia: A Wealth-Building Strategy

Debt recycling is a financial strategy that involves leveraging your existing home equity to invest in income-generating assets, such as shares or investment properties. It’s a wealth creation technique that aims to use your mortgage to your advantage by recycling non-deductible debt (your home loan) into deductible debt (investment loans). Debt Recycling in Australia Debt…

Does Australia Have Retirement Accounts?
Personal Finance

Does Australia Have Retirement Accounts?

Retirement planning is an aspect of life for individuals across the globe, and Australia is no exception. In this article, we will delve into Australia’s retirement accounts, known as superannuation, examining the key components, tax benefits, challenges, and the importance of responsible financial planning. The Australian Retirement System The Australian retirement system consists of three…

Is Roth IRA The Same As Superannuation?
Personal Finance

Is Roth IRA The Same As Superannuation?

When it comes to retirement savings, there are various options available to secure your financial future. For residents of the United States and Australia, two popular choices are the Roth Individual Retirement Account (IRA) and Superannuation, respectively. While both aim to provide financial security during retirement, they have distinct differences in terms of rules, regulations,…

How Does HECS Work?
Personal Finance

How Does HECS Work?

If you have attended university or are looking to attend university you have likely heard of HECS. HECS, short for the Higher Education Contribution Scheme, is the Australian Government’s program that enables students to have their educational expenses covered by the Government upfront. So this raises the question, How Does HECS Work? Explanation of HECS…

How To Check HECS Debt
Personal Finance

How To Check HECS Debt

HECS debt is a significant part of many Australian students’ lives, and keeping tabs on it is important. In this brief article, we’ll guide you through the process of checking your HECS debt with images. How to Check HECS Debt 1. Creating a myGov Account: Start by creating a myGov account if you haven’t already….

Australian Super Indexed Diversified Review
Personal Finance

Australian Super Indexed Diversified Review

Australian Super has grown to become Australia’s largest super fund with 3.06 million members and $274 billion in assets under management (AUM) [1]. The Australian Super Indexed Diversified option has returned on average 7.22% over the past 10 years as of June 2023 [2]. In this Australian Super Indexed Diversified Review, we will delve into…

How to save money for a car
Personal Finance

How To Save Money For A Car

Saving money for a car is a financial goal that is important for many as it is a ticket for freedom and flexibility. A car can provide essential mobility and convenience, making it a valuable asset in many aspects of life. To achieve this goal, setting clear financial objectives is essential. Without a well-defined plan,…

How to Save Money as a Teenager
Personal Finance

How to Save Money as a Teenager

Financial literacy is an important skill for anybody, including teenagers as it equips you with the knowledge and tools to make smart money decisions throughout your life. Starting to save money during your teenage years comes with several advantages. It lays the foundation for future financial security, teaching you discipline and responsible money management. It…

401k vs Superannuation
Personal Finance

401k vs Superannuation

A 401(k) and a superannuation plan are both retirement savings options. They serve as long-term tools for securing one’s financial future during retirement. In this article, we will explore some common factors and differences that exist between the two retirement options. 401k vs Superannuation A 401(k) plan is a retirement savings account primarily offered in…

TFSA vs ROTH IRA
Personal Finance

TFSA vs ROTH IRA

In your search for a retirement savings plan, you might be curious if there exists a counterpart to the widely recognized Roth IRA in the United States. The closest Canadian equivalent of the ROTH IRA is the Tax-Free Savings Account (TFSA) In this article, we will explore the Canadian TFSA, and compare it to the…

401k In Australia: Unraveling the Superannuation System
Personal Finance

401k In Australia: Unraveling the Superannuation System

Retirement planning in every country can look very different, with each having their own retirement saving systems. If you’re familiar with the 401k, we’ll discuss how it compares to Australia’s Superannuation system and find the closest equivalent to a 401k in Australia. What is a 401(k)? A 401(k) is a retirement savings plan offered by…

ROTH IRA in Australia: What's The Australian Equivalent?
Personal Finance

ROTH IRA in Australia: What’s The Australian Equivalent?

Every country has its own retirement savings system that helps residents plan for their long-term financial future. For those familiar with the ROTH IRA, we will explain the similarities and differences with the Australian superannuation system. And explore what’s the closest thing to a ROTH IRA Australia What is A ROTH IRA? A Roth IRA…

Hostplus vs Australian Super: Who Will Secure Your Retirement?
Personal Finance

Hostplus vs Australian Super: Who Will Secure Your Retirement?

Australian Super stands as Australia’s largest industry superannuation fund, boasting a membership of over 3 million individuals. It maintains offices not only in all major Australian cities but also in international locations such as London, Beijing, and New York [1]. In contrast, Hostplus Super is a firmly established superannuation provider, serving more than 1.77 million…

Industry Super vs Retail Super – Compare The Pair
Personal Finance

Industry Super vs Retail Super – Compare The Pair

Many of us have seen the ads on TV comparing Super Funds spruiking the benefits of specific Super Funds. When they say “compare the pair” what do they actually mean? In this article, we will explore Industry Super Vs Retail Super funds. Giving you real-world examples of each as well as some potential benefits of…

Vanguard Super vs Hostplus
Personal Finance

Vanguard Super vs Hostplus: Can the Newcomer Compete?

Vanguard Super is a relative newcomer to the Australian Super Fund industry, launching in October 2022. Vanguard announced in May 2023 that they had $500 million in assets under management with over 10,000 members to date [1]. Hostplus Super on the other hand is a well-established Superannuation provider with over 1.77 million members and $102.6…

Australian Retirement Trust Review
Personal Finance

Australian Retirement Trust Review: Comparative Analysis

Australian Retirement Trust has grown to have 2.2 million members and $240 billion in assets under management as of April 2023, becoming one of Australia’s largest super funds [1]. In this Australian Retirement Trust Review, I will discuss Australian Retirement Trust performance, fees, and how it compares to the likes of Australian Super and Aware…

REST Super Review: Retail Excellence?
Personal Finance

REST Super Review: Retail Excellence?

Retail Employees Superannuation Trust (REST) has 1.9 million members and $70 billion in assets under management as of June 2023, making it one of Australia’s largest super funds on a membership basis [1]. In this REST Super Review, I will discuss Retail Employees Superannuation Trust’s performance, fees, and how it compares to the likes of…

UniSuper Review
Personal Finance

UniSuper Review: One Of Australia’s Top-Performing Super Funds 2023

UniSuper has grown to have 600,000 members and $115 Billion of combined assets as of May 2023 to become one of Australia’s largest super funds. [1] In this UniSuper Review, I will discuss the pros and cons of UniSuper. UniSuper markets itself as one of the cheapest Super Funds out there. Read below, and you…

The Barefoot Investor Review: Domino Your Debts
Personal Finance

The Barefoot Investor Review: Domino Your Debts

The Barefoot Investor by Scott Pape is an Australian investor classic. The Barefoot Investor was first published in 2016 which was then revised and updated as of 2022. This Investor classic talks you through the day-to-day management of your money and paying down your debts. Scott Pape or Barefoot as he refers to himself throughout…

What Can I Claim On Tax
Personal Finance

What Can I Claim On Tax

Tax time doesn’t have to be stressful! If you’ve ever wondered, “What can I claim on tax?” you’ve come to the right place. We will go through the 5 biggest tax deductions you might be able to use at Tax time. We’ve developed a thorough overview of the tax deductions available to you. From work-related…

Australian Super Review
Personal Finance

Australian Super Review: Are They Still The Biggest and Best?

Australian Super is Australia’s largest industry superannuation fund. Australian Super has grown to have over 3 million Super members and has an office in every major Australian city, as well as, London, Beijing and New York [1]. In this Australian Super Review, I will discuss the pros and cons of Australian Super and discuss why…

Vanguard Super Review
Personal Finance

Vanguard Super Review

Vanguard Super is a relative newcomer to the Australian Super Fund market. Having announced its intention to launch an Australian superannuation fund back in 2020, Vanguard Super started in October 2022. In this Vanguard Super Review, I will discuss the pros and cons of Vanguard Super and if I will be transitioning to its super…

Passive Investing In Australia
Personal Finance

Passive Investing In Australia

What Is Passive Investing? Passive investing, also known as long-term investing, is a strategy where investors buy and hold stocks for an extended period. Investors will typically hold onto these shares for 5+ years, but often 10 years and beyond. Passive Investing Australia has become a popular strategy as it allows people to gradually build…

What is Good Debt And Bad Debt: What You Need to Know
Personal Finance

What is Good Debt And Bad Debt: What You Need to Know

Debt is an unavoidable part of most people’s lives, whether it’s a mortgage, credit card, afterpay account, or car loan. However, not all debts are created equal. It’s important to differentiate between good debt and bad debt to make informed financial decisions. So when it comes to investing there is such a thing as ‘good…

How To Choose A Super Fund?
Personal Finance

How To Choose A Super Fund?

Most people ask the question “How To Choose A Superannuation Fund?”. The best answer is to understand what a super fund can provide you long term. The decision you make on your Super fund detail will impact on your later lifestyle goals and retirement plans. A majority of Australians have a Superannuation account where mandatory…

How Does Negative Gearing Work - Negative Gearing Explained
Personal Finance

How Does Negative Gearing Work – Negative Gearing Explained

Investment properties and their gearing have become popular topics of discussion among investors. Negative Gearing in Australia is a very hot topic, especially for investors. Some individuals actively seek out negatively geared properties, believing it to be the best strategy to lower their taxes. The benefit of negative gearing cannot be understated for the average…

Borrowing to Invest in Shares and ETFs – Is it a Good Idea?
Personal Finance

Borrowing to Invest in Shares and ETFs – Is it a Good Idea?

Taking out a loan for an investment property is a common strategy. In order to buy an investment property, we lend money from a bank to buy it. But what if you want to borrow money to invest in shares, ETFs or managed funds? If you’re considering investing in shares, ETFs, or managed funds, you…

What Is An Offset Account
Personal Finance

What Is An Offset Account

When you’re considering investing or getting a loan, you may be asked whether you want an offset account. So What is an offset account? An offset account is a type of account that’s linked to your home loan. The money in your offset account “offsets” the money in your home loan, which in turn reduces…