Growing up I thought my parents were overly cautious with money. Things like keeping an emergency fund, avoiding unnecessary debt and fixing things instead of replacing them. Now I'm older, I find myself doing exactly the same. What's a money habit you picked up from your family that you're glad you kept?
Saw a great question here about whether it's better to pay down a mortgage or pump super.
I'm 40 and I don't even have a mortgage. It sucks having to rent, I want the housing security, but it also seems like a bit of a waste to even bother at this point.
I'm self employed so every cent I earn is taxed. It makes sense to be putting more of it into super instead of saving for a house.
What if I just keep maxing out my concessional super contributions? Could I potentially retire and find housing security then, and ultimately be better off financially?
Some people use multiple cards to maximise rewards and perks, while others prefer keeping things simple with just one? What's worked best for you?
As most of you may know, gambling addiction is quite big in my age demographic amongst many Aussies, unfortunately I fit into that demographic.
I don’t know why I’m writing this, I hardly ever use reddit but I just need to get this off my chest, if anyone has any advice please leave a comment or reach out.
Last monday I turned 20. I am working full time and studying in uni. I started gambling when I was 16, sneaking into pokies and gambling on older mates bookie accounts. It started small, I was always stingy with my money and hesitated to gamble, but that quickly snowballed. From 17-20, I have not made a full month without gambling my monthly pay, its generally gone in the first 2-3 days. If I have money in my bank, I genuinely will not stop until its all gone, even if that means staying up until 4am.
I feel disgusting and sick constantly, I can’t bare to look at myself some days, it has been extremely dark. I loan money off friends, family, apps.
Right now i am in debt roughly $4000.
I recognise that I am an addict and I genuinely want to change, I have tried everything, betstop, sending my money to trusted ones, deposit limits, nothing works.
It is genuinely uncontrollable, for instance I’ll overhear someone talking about NRL or horses at work and I will not stop until I have a bet placed on whatever it is.
The triggers are insignificant but its like my brain switches when it happens, along with many other things.
I’m not looking for sympathy, i know im an absolute idiot, but could someone who may have been in a similar situation please help me with some advice?
Thanks for reading❤️
Getting conflicting advice from everyone on this. Some people say max out concessional contributions now while the tax benefit is there, others say clear the debt first and then sort super later. Keen to hear what people in a similar position actually decided and whether they think it was the right call ?
With winter well underway, plenty of households are seeing higher energy bills. Have you found ways to keep your costs under control?
I've been thinking about buying/leasing property in Southeast Asia (most probably Bali) since I have business there and go there often. Spoken to some mates who have done it and they seem happy about it, esp those renting their places out when they're away. Anyone here tried investing property there before? (or anywhere around SEA) you think it's worth it?
It feels like AI is being added to everything lately. Has anyone found a genuinely way to use it for budgeting, investing or tracking expenses? What's your take after a month of using it?
The idea is basically that contactless payments and digital wallets make spending invisible, while cash makes it more tangible and helps people stick to budgets. Recent RBA data shows cash use hasn't disappeared and has even slightly increased in recent years, with many people using it weekly, mostly for budgeting, privacy or simply to better track day to day spending.
Is budgeting easier when you can actually see the money leaving your wallet?
Whether that's renting longer than expected, jumping into property too early, ignoring super, or something that actually paid off unexpectedly. Real examples only.
Are we heading down the path where legislation will force reserve prices at auction to sit within the agent’s price guide/range. If this is the case what happens if the agent has a legitimate honest range in mind and a vendor has a reserve that sits above the top end of the range. Which party should compromise and act against what they believe to be the correct figure?
Over the past couple of years I've paid off my credit card, built up an emergency fund and started putting money into savings every payday. On paper I'm in a much better position than I was, but I still hesitate over every purchase and constantly worry about spending money. Did anyone else go through this? At what point did you actually start feeling financially comfortable instead of just seeing bigger numbers in your account?
After Judo Bank's sharp share price drop, some people are wondering whether smaller banks are simply more exposed to economic downturns? Is sticking with one of the big four the smarter move?
If you had to start building wealth again from $0, what would you do differently?
ON, Labour, Libs or Greens
If you were in your mid to late 50s and can access your super (preservation age 60), had no debts, owned your own house and had one of those magic super schemes that was indexed to CPI twice a year and it would give you a starting super salary of $90K a year would you retire?
Superannuation is often seen as the answer to retirement, but is it becoming the only plan many people have? With housing costs rising and living expenses staying high, some people argue that relying solely on super could be risky, while others say Australia's super system is one of the strongest in the world. Do you see super as just one part of your retirement strategy, or is it your main plan for the future?
A lot of people assume a rate cut automatically means lower monthly repayments, but that's not always the case. If the RBA cuts rates again, should banks be expected to pass on the full reduction? What would it mean to borrowers trying to get ahead on their mortgage?
with negative gearing gone for IPs, im thinking ETFs, gold, term deposits