360 Money Matters
Welcome back to another episode of the 360 Money Matters Podcast! In this episode, we share tips to avoid overspending during the holidays. We stress setting a realistic budget, planning ahead, and avoiding credit card debt. Alternative gift ideas like Secret Santa, re-gifting, or pooling money for family experiences are encouraged, along with early online shopping and price comparisons to save money. We also highlight the value of saying no to costly commitments and focusing on meaningful, budget-friendly interactions. The goal: enjoy the season without financial regret. Ready to enjoy...
info_outline 163. Offset vs. Redraw Account360 Money Matters
Welcome back to another episode of the 360 Money Matters Podcast! In this episode, we discuss the differences between offset and redraw accounts, key financial tools for managing mortgage payments. We outline how both accounts reduce mortgage interest but differ in terms of flexibility and tax implications. An offset account, linked to a mortgage, allows daily transaction access, providing flexibility and potentially larger tax deductions if the property becomes an investment. In contrast, a redraw account holds excess funds paid toward the mortgage, which can be withdrawn, though with...
info_outline 162. Market Wrap360 Money Matters
Welcome back to another episode of the 360 Money Matters Podcast! We are back again with our monthly ‘Market Wrap’ segment. In this episode, we talked about post-US election market impacts. We start off with the positive response of the U.S. stock market, which reached all-time highs, and discuss the soft economic landing, resilient labor market, and potential inflation concerns if certain policies are enacted. We’ll also talk about challenges in Europe, where deflation concerns may lead to lower interest rates, and China's focus on boosting domestic demand to meet growth targets, which...
info_outline 161. Purchasing a Property Using Super360 Money Matters
Welcome back to another episode of the 360 Money Matters Podcast! In this episode, we discuss the intricacies of purchasing property using superannuation, particularly through a Self-Managed Super Fund (SMSF). We outline the fundamentals of SMSFs, including the flexibility they offer within the confines of superannuation legislation, as well as the responsibilities involved, such as managing contributions and undergoing annual audits. Also, we cover the costs associated with establishing an SMSF and the potential for property investment, emphasizing the strict regulations that prohibit...
info_outline 160. Refinancing Considerations360 Money Matters
Welcome back to another episode of the 360 Money Matters Podcast! In this episode we discuss the key considerations around refinancing a mortgage, especially in light of potential interest rate reductions. We cover various factors, including negotiating with your existing lender, the "loyalty tax," and the pros and cons of fixed versus variable rates. Also, we dig deeper into using offset accounts, interest-only loans, and the importance of having a strategy for debt repayment. Finally, we emphasize being mindful of loan terms when refinancing, as extending the loan period can result in...
info_outline 159. Choosing The Right Superfund360 Money Matters
Welcome back to another episode of the 360 Money Matters Podcast! In this episode, we discuss the importance of paying attention to superannuation, as 12% of an employee's income is allocated to it. We explain that superannuation is a tax-effective trust structure designed to help grow wealth for retirement. Also, we explore various types of superannuation funds—industry, retail, wrap platforms, and self-managed super funds (SMSFs)—highlighting their differences in investment options, insurance, and complexity. Furthermore we emphasize the need to review your super fund as life...
info_outline 158. Market Wrap360 Money Matters
Welcome back to another episode of the 360 Money Matters Podcast! We are back again with our monthly ‘Market Wrap’ segment. In this episode, we discussed the significant movements in the investment markets, highlighting the 5.18% rise in the S&P 500 over the last month, driven by factors such as East Coast dockworkers' strike resolutions and U.S. interest rate cuts. Additionally, we touch on China’s economic stimulus efforts, its potential global impacts, and the Australian market's growth. Furthermore, we tackled into the potential effects of the upcoming U.S. election on the...
info_outline 157. Downsizing as a Retirement Strategy360 Money Matters
Welcome back to another episode of the 360 Money Matters Podcast! In this episode, we explore downsizing as part of a retirement strategy. We discuss why retirees often choose to downsize, such as reducing space and maintenance needs, and the financial benefits like unlocking equity from the family home to boost retirement income. The downsizer contribution allows those over 55 to contribute up to $300,000 (or $600,000 for couples) to their superannuation, providing tax-free retirement income opportunities. Lastly, we touch on strategies like purchasing a downsized property early to...
info_outline 156. Growing Your Superannuation360 Money Matters
Welcome back to another episode of the 360 Money Matters Podcast! In this episode, we discuss superannuation and the strategies for growing it effectively. We address the importance of starting early, making consistent contributions, and understanding the tax advantages associated with superannuation. We answer common questions, such as why superannuation is a powerful investment tool and the benefits of tax-free income during retirement. Additionally, we highlight the importance of balancing super contributions with other financial priorities, like debt repayment or personal...
info_outline 155. Investment Mistakes to Avoid360 Money Matters
Welcome back to another episode of the 360 Money Matters Podcast! In this episode, we discuss common investment mistakes that many investors make and how to avoid them. We highlight the importance of having a long-term investment timeframe, setting realistic expectations, and not getting caught up in market noise. We also emphasize the value of diversification to manage risk and the significance of time in the market over trying to time the market. Additionally, we explore the risks of not investing, the importance of controlling emotions, and the need for a clear investment...
info_outlineWelcome back to another episode of the 360 Money Matter Podcast! In the previous episode, we gave you updates on the investment market and the factors affecting it.
In this episode, we’ll be sharing proven strategies to help you develop your cash flow management and budget strategy skills. It all begins with being realistic about your financial situation and expectations. From there, you’ll be able to clearly see your income and expenses and reflect on how you can improve the way you handle your finances. We will talk about strategies such as setting a realistic budget, the bucketing strategy, reviewing and improving your structures and many more. These are all to help you become more confident with your money management.
This podcast contains information that is general in nature. It does not take into account the objectives, financial situation, or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. This information is provided by Billy Amiridis & Andrew Nicolaou of 360 Financial Strategists Pty Ltd, authorized representatives and credit representatives of AMP Financial Planning – AFSL 232706
Episode Highlights:
- The factors affecting the increase in cost of living
- The gateway to wealth creation
- Setting a realistic budget
- The bucketing strategy
- 2 Key buckets that you should have in your cash flow strategy
- Keeping your expenditure in line with your income increase
- How often you should review your structure
- Becoming more confident with your money management
- Things to do to help maximize your budget and cash flow
- Budget Fatigue
- Separate Savings account
- Finding the balance between budgeting and living
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