Term deposits are a secure and low-risk investment option, but life can throw unexpected curveballs that may require you to break your term deposit prematurely. In this FinPlan article, we’ll guide you through the process of breaking a term deposit, explain the potential consequences, and offer alternatives to minimize financial losses. Understanding Term Deposits and …
It’s no secret that tracking your monthly expenses is a crucial aspect of financial management. Yet, many people often overlook this fundamental step in their financial journey. In this FinPlan article, we’ll explore the reasons why tracking your monthly expenses is so essential, provide practical tips to make the process less tedious, and offer a …
Living in the suburban bliss of Box Hill, Melbourne, offers a comfortable lifestyle, but managing your finances wisely is still essential. Cutting costs can help you save money and improve your financial well-being. Here are 37 practical tips, each with a quick “how to” guide, to keep some cash in your pocket. 1. Reduce Energy …
Budgeting can be a puzzle, and understanding the concept of “paying yourself first” can make all the difference in achieving your financial goals. In this FinPlan article, we’ll explain reverse budgeting, or “paying yourself first,” and clarify how it differs from saving what’s left of your income. Let’s unravel the mystery of this transformative approach …
The 50/30/20 budgeting method is a simple and effective way to manage your finances, providing a clear framework for allocating your income into three categories: needs, wants, and savings. In this article, we’ll walk you through the 50/30/20 budget and offer an example tailored to a single person living in Cairns, Australia, with a monthly …
Budgeting is the foundation of sound financial management. It empowers you to take control of your money, achieve your financial goals, and gain peace of mind. In this Budgeting 101 lecture, we’ll explore the principles of budgeting and provide a practical guide for getting started on a monthly budget, assuming an income of $5,000 per …
Effective money management is a cornerstone of financial success. Whether you’re striving to build wealth, save for retirement, or achieve specific financial goals, mastering money management skills is a must. In this article, we’ll explore eight key skills that can help you take control of your finances and secure your financial future. 1. Budgeting Budgeting …
Australia offers a diverse landscape of employment arrangements, each with its unique features, benefits, and obligations. Whether you’re a job seeker, employer, or someone simply curious about the Australian labor market, understanding the various types of employment is essential. In this article, we’ll explore common employment arrangements in Australia and the rights and entitlements associated …
Starting a small business can be an exhilarating journey filled with the promise of independence, success, and fulfilling your dreams. However, it’s also a path laden with challenges and uncertainties. To help you embark on this adventure with confidence, here are six crucial things you need to know before starting a small business, along with …
Passive income, often hailed as the key to financial independence, is a way to earn money with minimal effort on an ongoing basis. It’s a means of making your money work for you, rather than you working for money. In this article, we’ll explore what passive income is and provide insights into three of the …
