NewsBite

Budgeting

This Month

 zxcvz

6 ways to save an extra $14,000 every year

It’s time to get the calculator out: you may be able to save thousands by looking for a better deal on these six expenses.

asdf

Why this ratio is key to wealth building

Your savings-to-investment ratio can tell you a lot about your ability to achieve long-term goals. It’s among a handful of metrics experts recommend observing.

Arjun Chowdrey with parents Aruna and Prodip at the property in Willoughby that he bought that is getting built.

Meet stayvestors, the home owners who live with parents

A new generation has hit the market, finding a way to overcome the hurdle of housing affordability and still build wealth through real estate.

March

Building wealth requires endurance and patience.

5 ways financial planning is like marathon training

Elite athletes understand that high performance stems from the compounding effect of many good decisions. The same principle applies to wealth building.

Here’s what to do every year, month and day to achieve your goals.

Habit stacking and the yearly, monthly and daily steps to hit goals

What do training for an ironman competition and hitting your money targets have in common? More than you might think.

Advertisement
There is still time for savers to secure a good deal.

The three habits helping Australians build the most wealth

Amid record levels of economic inequality in Australia, a respected survey of household trends shows how average people are building their savings.

February

At your age, you must draw a minimum of 5 per cent of your balance, and that will increase as you get older.

We have $4m in super. How much can we safely spend each year?

Nobody knows how long they will live, which is what makes budgeting in retirement so tricky.

Sydney accountant Resha Patel.

Life is chaotic – thank god for my spreadsheet

Overseas holidays, household chores, beer consumption – these finance professionals have their entire lives accounted for. 

December 2024

Ishar Gill, left, his father Jaspal Singh, centre and his sister Jaspeet Gill right, look over the enlarged image of a cheque that will be presented to the winner of the $US1.22 billion Mega Millions Lotto ticket that was purchased at their family’s store in Cottonwood, California.

Someone just won $2b in a lottery, what should they do now?

Experts say the winner of the Mega Millions prize should build relationships with a wealth adviser, a tax accountant, an estate attorney and a therapist.

People-pleasing can come at a significant financial cost.

People pleasing cost me $32,000. Here are four ways to stop it

Since people pleasing is a personality trait, dialling back your spending requires more than learning the nuts and bolts of money management.

So, you want to retire to Tuscany?

The idea of moving to Italy is alluring for retirees – la dolce vita, the food, the wine, the beauty, the prices. Just check these practicalities first.

November 2024

Stephen Pastor is working hard to reframe his attitude to money.

‘I’m worth millions but I still fret about money’

Money mindsets are established early in life and can lead to poor financial decision-making, but there are ways to reframe your approach.

October 2024

Earning good money but saving nothing? Here’s what to do

No matter how much you earn, good budgeting is the foundation of financial success.

August 2024

Morningstar offers a net worth spreadsheet, while the government’s Moneysmart service offers a net worth calculator.

How to calculate your net worth (and why you should)

Trying to build wealth without knowing your net wealth is like steering a ship without a compass. You might not get very far, and you could even go backwards.

July 2024

To cut the cost of your “wants”, you’ll need to come up with some sacrifices.

How the 50/30/20 budgeting hack can unlock your finances

This straightforward strategy suggests dividing your income into three buckets: needs, wants and financial goals.

Advertisement

April 2024

For those fortunate enough to have good health and money, semi-retirement is an increasingly popular option.

Why more Australians are choosing semi-retirement

Fusing the parts of work you still enjoy with hobbies, travel and passion projects is the dream for many. Here’s how to make a go of it

Clear bad debt, says HLB Mann Judd’s wealth management director Lindzi Caputo.

What to do in your 20s, 30s and 40s to build wealth

Avoid ‘lifestyle creep’, establish good saving habits and pay down debt to get ahead.

March 2024

Online shopping: ads “follow you” around on the internet.

The seven mind tricks brands use to keep you spending

Brands use sophisticated tactics to encourage you to spend more.

February 2024

Joy Sparks balances part-time teaching with her art and charity work.

Retirement income products: What are my options?

A new generation of super products is attempting to address retirees’ concerns.

Financial advisor Olivia Maragna helps her clients feel confident to spend their retirement savings.

‘Paradigm shift’: How to switch to spending in retirement

After decades spent saving, lean into the fear, plan obsessively and let go of the guilt, experts say.

Original URL: https://www.afr.com/topic/budgeting-hvn