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by  | Nov 7, 2014 | Blog | 0 Comments​​​​​​​

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And in the current economy, many are losing their jobs through no choice of their own, with little prospects of immediate or foresee-able employment.

The greatest cause of financial pain is the failure by consecutive governments to provide financial education and proper literacy to general population.

People know of financial planners, but are put off by fees, commissions and stories of rorting and lost funds. And financial planners are the people one goes to see about setting up retirement funds, because they don?t provide everyday financial advice as many would consider it to be.

The problem most people have is managing their daily cash needs. They run out of money before they run out of month. And this is still a too common occurrence. People are starved for advice and embarrassed to admit failure to be able to handle their own money, but have few qualified places to turn to.

Some solutions do exist, but handing over all of your income for some-one else to manage your problems does not address the root issue. Earning your own money, managing your own finances, and controlling your future should be the main goal of any financial education program.

At the end of the financial year, should you be contributing to a retirement fund where the returns fluctuate up and down, after the fees have been taken?

Or, should you be eliminating your debts as quickly as possible, knowing exactly how much you can save and then invest in your future ? being debt free!

How many times do people need to be told that the pension eligibility age is not the mandatory retirement age!

I will say that again ? Pension eligibility age is not mandatory retirement age!

This current government, (as have others before it) raised the pension eligibility age from 65 to 67 and now to 70 in the year 2023.

People can retire at any age they desire to do so. The main factor determining whether or not they should cease working is not simply their desire to do so, but their financial position at the time and the ability to fund their future lifestyle.

And the groundwork for future lifestyle affordability is laid in the foundations of youth and how people manage to pay off their debts at the earliest possible opportunity. Too many people are retiring with a mortgage balance to pay out from their superannuation, which reduces their lifestyle.

Thank you so much for you amazingly straightforward book Want More Money Honey?. I have to thank you for writing it, I feel like you are talking to me Seriously though, I think if it wasn’t for your book and Money Rules Money Manager Program I would not have double-checked my Car Loan for repayment accuracy. After using your loan calculator it appears we are being overcharged each month for some reason, so this is flagged and I will be raising it with them. I’m happy to pay it out sonner, but I want to be charged the correct rate and for the extra payments to be calculated correctly. As mentioned recently, I’ve already ( in the last 2 weeks) paid $1000 off our Visa Card debt (permanently), revisited all of our insurances and we will be receiving hundreds in refunds from them with an additional 20% savings on our new policies (YAY!) We’ve also made further savings on our weekly groceries, phone usage services with extras that don’t cost any more and cut out some non-discretionary items such as alcohol, thus reducing our expenditures by HUNDREDS per month and THOUSANDS per year. All in just 2 weeks !!! Imagine what I can do the next year! You know… I spent years doing all of this on excel spreadsheets (which I am ok at but NOT GREAT), I overcomplicate things and make it impossible for m Hubby to navigate or use. It’s just not user friendly for him, then it becomes too hard for me. what I like about the Money Manager is that as I tweak things I can see in the graphs where I am saving and I get excited because I can see that it’s going to be ok, in fact it’s going to be great, we will be reducing our debts sooner than the contracts which is so exciting, it means we can plan to save, sooner! So thank you thank you thank you for getting my HEADSPACE in the RIGHT SPACE and giving me the tips. resources and tools to change my poor money mindset to a more positive GET GREEDY mindset. I really hop so many others get on to this Program and read your book because I know you and what you have created is going to make a massive difference to families and individuals and the economy around the world! How could it not! So here’s to You “raises cup of tea” with the greatest respect, admoration and gratitude for helping with the shift, which noone else has been able to do. Heather James Inspiring Mums “Where Mums smile & Shine”

by  | Nov 7, 2014 | Blog | 0 Comments

The decline in the exchange rate from its highs a year ago will assist in achieving balanced growth in the economy, but less so than previously as a result of the rise over the past few months. The exchange rate remains high by historical standards.?

This comment form the Reserve Bank Of Australia chief Glen Stevens is their sneaky and underhanded way f telling people that any likely moves for interest rates is going to be UP!

Theres a lot of factors which impact interest rates, and no matter how many economists and specialists and financial advisers you speak to, they will all have their own ideas on what creates movements up or down.

So perhaps my comments my be incorrect! But ? what if?

What if I am right and too many investors are buying properties for rental purposes and wealth creation. That drives property prices higher.

The labour market in Australia is decimated nearly every other day with more job losses and closures, without the balance of job creation meeting demand. Who is going to pay all those unemployment benefits? The lonely tax payer!

The RBA says the strength of the Aussie Dollar remaining high ? poor little battler ? is doing damage to the local economy. Thats true! Imports cost less, so less likely to have manufacturing locally when it can be brought in more cost-effectively and sold here rather than made here. Auto industry and fruit industry are testament to that.

A higher value dollar means less tourism to this country. After all, what else do we have apart from overeducated unemployed youth who have trouble finding jobs and can?t get experience because there is no work and their father just got laid off.

Ah yes, the double speak in the message belies the hidden truth of future increases which they will say, they alluded to just months ago. But you may have missed it it because it didn?t actually say that very succinctly!

The art of effective speaking! Yes Minister!

by  | Nov 7, 2014 | Blog | 0 Comments

Interest Rates To Go Down! REALLY?

Danish Saxo Bank chief economist Steen Jakobsen, was recently speaking in Sydney on a visit from the bank?s Copenhagen headquarters.

He believes Australia is where Britain was in the 1980s with high labour costs attributable to being over-unionised.

I can?t disagree with him, although I am not having a dig at unions. They do play a role.
But his assertion is that interest rates will actually drop, by as much as 25 to 75 basis points.

Great news if you have a home loan, too bad if you don?t have a job!

There is a lot more pain to come, and it is going to last for around another 6 to 9 years. Oh yes, not an easy one this time around.

Is it time for you to review your investments, which include your retirement funds and plans?

Let me tell you ? it is ALWAYS time to review!

After all ? it is YOUR money!


– See more at:

http://www.afrsmartinvestor.com.au/p/fixedincome/buy_bonds_it_worse_than_you_think_0QtjZihamyqAYrQA7Ij6aI

by  | Nov 7, 2014 | Blog | 0 Comments

WHY ISN?T MONEY AN EDUCATION?

It is a sad indictment on our society that finance and money is not taught in schools or given the education it deserves.?Because without it, few ever have the knowledge on how to effective manage money or wealth.

How often have you heard about people winning the lottery only to be broke and miserable within a matter of years.?Friends and family come out of the cracks and all are asking for money. Fair-weather friends to say the least!?Needing to work for the money and being a money slave are pretty much the same thing.

Few understand how to manage it well or correctly and are easily led astray by slick stories of how to make money, create wealth, buy property, get investments.?And when they fail, they give up on themselves and fall into the clutches of less than scrupulous people and business prepared to ?help? them who are either the solution or the problem.

Everyone can do this themselves without giving up.?Standing up and asking for help is the first step. Doing something is far better than doing nothing, and the longer it takes to get started, the longer it takes to get finished.

When is NOW a good time to get started.

Money Rules as a program is simple to use and a far more cost effective and educational solution than many others.

– See more at: http://www.abc.net.au/news/2013-12-09/financial-counsellors-urge-caution-over-new-industry-offering-h/5145550