If you’ve been close to the property market over the past few years, you’ve no doubt come across the term ‘rent-vesting’ in your travels. If you haven’t, it’s basically where you’re both a landlord and a renter at the same time. Rent-vesting’s a concept that’s exploded in recent years. So much so there was even a rent-vesting expo held in Sydney a couple of years’ back....
Let’s face it, renovating or knocking down a house is a daunting proposition. Whichever way you look at it, it’s a huge decision. Same goes for selling up and the arduous task of then moving, particularly if you’ve been living in the same spot for a while. Many families arrive at a point where their home doesn’t quite meet their needs anymore. It could be...
Before you buy your first home, the thought of taking on a sizeable mortgage can be pretty daunting. I totally get it. I felt the same prior to taking the plunge and buying my first property back in 2007. There’s something about the psychology of borrowing such a large amount of money and paying it off over such a long period of time if, like...
Buying a home for the first time, particularly if it’s your family home, is a massive financial decision. And for good reason – buying your family home quite possibly could be the biggest purchase you’ll likely make in your lifetime. I know because I’ve been there myself. Throw in the pressure of having a young family (or if you’re planning on starting a family in the...
Life’s all about trade-offs, particularly when it comes to financial goals. Now, I’m not going to get into the whole public vs private school debate and which is better. Private schools are expensive – we know that. The financial trade-off is enormous. To give you an idea, sending our two girls through six years of private education (high school, basically) will mean we’ll need to fork out...
Okay, so you have kids or are planning on starting a family and want to give them the best education possible. Great. I’m the same. When my wife and I have children, we want to give our kids the best start in life we can, so I know where you’re coming from. As a financial adviser, two of the most common questions I get asked is “can...
Private schools aren’t cheap. Far from it. Last year, Australians forked out around $10 billion dollars for private school tuition, with 49 percent covering the annual cost of out of their disposable income. With that 49 percent in mind, if you are thinking of sending your kids private, there’s a lot to consider. You need a gameplan. The earlier you have one, the better. The...
Budgeting sucks. I get it. Unless you’re someone who takes great pride in creating intricate Excel spreadsheets that break down every aspect of your weekly spending in forensic detail, budgeting can be a pain in the you know where. If you can’t be bothered, like to keep your head in the sand with your finances while fearing the worst, or shy away from getting ‘bogged down...
How good are you with managing your money? And don’t worry – it’s not a trick question. The reason I ask is you’d be surprised at how many people make it well into adulthood without learning the basics of good money management. In Australia, we’re talking almost half the adult population, according to the Australian Bureau of Statistics. Meaning, around 45 percent of Australians...
Who’s up for saving an extra $5K over the next six months? Maybe your credit card’s copped a bit of a caning over the past two months. Maybe you’re saving up to get out of Melbourne for a few weeks come winter and head somewhere warmer. Maybe you’d just like a little extra up your sleeve for a rainy day. Sound good? You in? I have a...
