r/AusMoneyMates

How did you save your first real financial safety net?

Hi,

I just started investing in ASX through CMC.
Have been recieving tonne of letters from the companies that I bought stock of, however I just noticed that for one of them, the BSB number is different than the one shown on my CMC sub account.

The BSB number on the paper from JIN: 014 936

The BSB number on the CMC website after logging my in account: 016 936

The account number is same on both.

Is this normal? I cant verify from the letters of other companies as I already shredded those letters.

UPDATE: Just called CMC and as per them, they have made this change themselves. Strange that they did not inform prior to this. As of now, both accounts could be used.

My folks are approaching sixty five and have basically zero superannuation because they ran a small cash business that went under a decade ago. They are expecting to just live on the age pension but they still rent and have no assets

Finally got my budget properly sorted and mapped everything out. Honestly didn't expect it to hit as hard as it did when I saw it laid out visually.

Brisbane homeowner, two kids in school, dual income. I'm still saving and investing which I'm happy about, including a bit each month for the kids, but with three rate rises already this year and potentially more coming it's getting harder to feel like we're actually getting ahead.

Anyone else feeling this? Has anyone actually found ways to get their mortgage more balanced without just selling up?

https://preview.redd.it/f7j5u3k6gy1h1.png?width=620&format=png&auto=webp&s=e055f4c6df0d0af86b444e72793b9c075dd8e70f

What money rule or principle has helped you the most?

What advice sounded wrong initially but ended up being true?

Im guy in my forties and have PTSD, and have fried my brain from drugs.

I used to do mental health support work but I'm burned out from it and am fatigued and exhausted a lot of the time.

I'm building back my health slowly. I've been a bit of a mess due to grief and trauma and shit.

Anyway, I need some extra income though to pay back my mate and don't want to go back to looking after other people because it's draining. I don't really have many skills in other fields since I did support work most of my life.

Im a musician and I write songs and am committed to it, ( making albums and releasing them) but it doesn't pay much. no one buys music and I don't do covers.

Anyway, any suggestions on how to get some extra income when you're not 100 per cent healthy and not highly skilled in shit?

Thanks

Hello!

My partner and I are looking at building or buying our first home.

We have saved and saved for our deposit (5% scheme) but now I am stressed.

We had a credit card ($3000 limit) which is cleared and paid off. We had a car loan which we have paid off early (paid off about 4 years early to start our home ownership journey). Our BNPL accounts (rarely used) have been deactivated.

When I was younger I had a personal loan- I don’t even know why I got it, I think everyone was so I joined them. It was a low repayment and small loan which I paid off early HOWEVER in that time frame I have had some late repayments. Nothing too dramatic and no defaults or anything like that but it has really brought my credit score right down

My credit score is showing as 507-583 depending on which agency you look through. I am terrified this is going to impact our mortgage application. My closed credit card is yet to be shown on this report so hoping next month that may boost our figures.

Our combined income is $180k and only looking to borrow about $670k so repayments really will not be an issue but I’m so scared I have screwed this up for us both.

Does anyone have any experience, reassurance, anything of the sort? I’m so financially different to where I was 2 years ago and I’m soooo stressed

It feels like money is still the ultimate social taboo among my friend group. We will happily talk about rent prices, the price of groceries, and how expensive a night out is, but the second someone asks about actual net wealth, super balances, or investment strategies, the room goes completely quiet. Are you guys open with your mates or do you keep it strictly anonymous?

Mine was definitely upgrading my phone every couple of years thinking it would somehow make me more productive or organised. After the first week the novelty wears off and it just becomes another monthly expense for something that does basically the same thing as the old one. Looking back I probably would’ve been better off keeping phones longer and putting the difference into savings instead

I had to drop out of uni for personal reasons. I have a HECS debt of around $16k. I only earn around $45k a year. Is it worth trying to pay any of my hecs debt off? I was thinking of aiming to pay maybe $1000 a year, but even that will take forever. However the other option is letting it sit and accumulate with indexation. Just at a bit of a loss at the moment and feeling confused and overwhelmed. Any advice would be really appreciated

I kept doing the same thing on Amazon AU, being a few dollars short of the $59 free shipping minimum and adding random junk just to avoid paying delivery (or waiting to order for weeks).

So over the weekend (yep, I was really bored) I made a small tool for myself that suggests low-cost everyday items to bring your cart total up to the threshold more efficiently to avoid paying any shipping.

You just enter your current cart total and it shows combinations that get you close to $59 using practical items instead of random filler.

Not selling anything or monetising it, just thought other people here might find it useful too. If sharing the link directly isn’t allowed, happy to post it in the comments if mods approve.

What did you buy that turned out to be worth every dollar?

TopCashback has a $35 bonus for new users.

Sign-up takes about 2 minutes.
To unlock the bonus, spend at least $25 through TopCashback within 180 days.

Referral link:
https://www.topcashback.com.au/ref/casharooau

I may receive a referral bonus if you sign up through my link. Check terms first.

JUMP ON!

What strategies help you avoid unnecessary spending and keep saving regularly?

I've used Wemoney to budget for a bit cos I like seeing all my accounts in one place and tracking my credit score easily. Been getting pop ups on the app saying I could save a couple hundred by consolidating. The app has said loan would be through Latitude.

Has anyone actually used WeMoney/Latitude for debt consolidation? Curious about whether the rates and repayments were genuinely better, and whether there were any catches.

Not looking to take on more debt atm. Just wondering if it’s worth exploring as a way to simplify repayments and maybe reduce interest.