 Buy Now, Pay Later schemes have been rising in popularity over the past few years, to the point where most people use (or at least know someone who uses) the service.
But are Buy Now, Pay Later schemes bad for your financial health? How do they work? This article will hopefully answer some of these questions.  It’s your fifteenth round of rental inspections. A dozen young couples and small families heave their way through the door of a unit forty minutes from the city. The property manager spouts on about the first-class amenities, walking past a carpet stained by years of tenants. There’s a metallic smell in the air. A cockroach crawls sluggishly over your foot.
This is the current state of the rental market in Australia, especially in our capital cities. Many people may be considering if buying is a cheaper, easier option.  In Australia, the decision to pay off Higher Education Contribution Scheme (HECS) debt early is gaining traction, especially with the 2023 indexation rate reaching 7.1%. For individuals with a HECS debt of $30,000, the indexation resulted in an increase of $2,130. For those grappling with the question of whether to prioritise paying off HECS or focusing on home loan repayment, a careful analysis of interest rates is essential.
 Embarking on a journey of financial decluttering can yield remarkable results, akin to the transformative effects of decluttering our physical and mental spaces. As a New Year's resolution, consider adopting this practice to not only streamline your financial life but also usher in joy, serenity, confidence, and a more positive outlook.
 If you are considering salary packaging your home loan, it's crucial to understand the potential benefits and limitations of this financial strategy. Salary packaging, commonly associated with fringe benefits, allows employees to use pre-tax income to cover certain expenses.
 When looking at mortgage interest rates today, our parents compare and boast a high 17% rate when they bought a house.
 No one has achieved financial freedom with a January resolution that’s abandoned by February!
 “Annual income twenty pounds, annual expenditure nineteen six, result happiness. Annual income twenty pounds, annual expenditure twenty-pound ought and six, result misery.” – Charles Dickens
The above quote by Charles Dickens captures the essence of this article. Spend less than you earn and the result is happiness! We all know this to be true, so why do some of us struggle with cashflow?  It is the start of the new financial year – we all know this as the constant bombardment of TV and print ads tell us all about the sales and the discounts available. You have just spoken to your accountant and lo behold you are due a refund – for argument’s sake let us say about $1,000. You now have a decision to make – is that new 4K Hi definition TV appealing or are there other more boring ideas. Let us investigate.
|
