It’s money 101. You can spend it, invest it or save it.
Sounds simple right?
Most of us have no trouble spending it….clothes, holidays, gadgets, brunch with friends etc … but knowing how to invest and save money can be a little more challenging.
Save money like a boss
Lifestyle changes can create an impact on your finances in the short and long term, especially when it comes to tackling debt. Read our Debt Busting Challenge article.
“Breaking lifestyle changes down into small components like this is often a much more sustainable way to cement permanent change, rather than trying to achieve everything all at once.”
Business leader and author of the “Joy Of Business” Simone Milasas believes that your relationship and attitude towards money can have an impact on how you save money and achieve your financial goals.
“The end of the financial year can be a stressful time with increased pressures to achieve projected goals and feelings of anxiety and self-judgement if you think that you, or your business, are falling short. One thing I know is that judgement doesn’t create anything. It certainly isn’t an invitation for more money to show up in your life.”
Balance Life Coach Dr Dain Heer also believes in the power of attitude and belief when it comes to inviting money into your life.
“Regardless of your current financial situation, wealth and abundance are possible and YOU are the source for creating it! Often we think that if we would just receive a large inheritance or win the lotto, then our money situation would be handled and we would be happy. Nothing wrong with receiving an inheritance or winning the lotto and… what else is possible? What could you do today to begin to change your money situation right away?”
Dr Dain Heer dedicates an entire chapter to improving our relationship with money in his Balance online learning program Rediscovering and Reinventing You.
In order to gain greater financial security, the key is to analyse how you save money, be proactive and find the right advice and information for your situation and then ACT!
The Balance top 4 websites for financial advice and information
MoneySmart website is run by the Australian Securities and Investments Commission (ASIC) to help people make the most of their money by offering free, independent guidance. It is put together by an experienced team of financial planners, consumer educators and teachers that helps ordinary Australians take steps to improve their personal finances.
Australia’s Unclaimed Super Fund (AUSfund) is a special type of superannuation fund known as Eligible Rollover Fund (ERF). Its purpose is to look after money transferred from other regulated superannuation funds (or the Australia Taxation Office) because a member has become ‘lost’ or ‘inactive’.
Canstar’s star ratings system is designed to help consumers increase their chances of finding the right product for free. Canstar’s data is used by financial institutions to fine tune their products as they also provide information for the Bank of the Year – with Money Magazine in Australia, Government bodies such as ASIS, APRA and the Reserve Bank.
Scott Pape has been voted “Australia’s most trusted finance expert” and is the money guy for Channel Seven and Triple M and writes two weekly national newspaper columns. He has advised AFL and NRL teams about money and consults to the Australian government on financial education in schools.
Any advice given is general only and has not taken into account your objectives, financial situation or needs. Because of this, before acting on any advice, you should consult a professional to consider how appropriate the advice is to your objectives, financial situation and needs.