Personal Finance

Australian's are becoming more conscious with the way they spend their money and are on the look out to find ways to reduce their debt and increase their savings.

Best Personal Finance Card

The ANZ Balance Visa is a card which will help you get in control of your finances as it is the only card in Australia that rewards you with 1 point for every dollar you repay on your credit card balance each month. This will encourage you to pay your balance off in full each month so you will be less likely to fall into a credt card debt trap. Reducing your balance has never been so rewarding

• $79 annual fee
• 14.24% p.a. on purchases
• 0% p.a. for 6 months on balance transfers
• Cash Advance Rate of 21.49%
• Receive rewards from some of Australia's leading retailers.

Click here to read the ANZ Balance Visa terms and conditions

Personal Finance Tips and Advice are essential for all of us. By organising your finances and structuring them to work for us we can all gain to save more money. Money we can choose to splurge for special occasions such as a holiday, a nice flat screen TV, or whatever else gets your heart ticking faster. Australia has a problem - this problem is the lack of finance education at school. But this problem isn't just limited to our country. All around the world the schooling systems continue to teach us about history we cannot change instead of teaching ushow to handle money well. If we would be taught to manage our finances from early childhood age, we could almost bet that the world population as it stands would have a lot less problems with debt. Therefore we found it only suitable to come up with some helpful personal finance tips to help you manage your debt, or better yet, avoid it altogether.

Personal finance tips for students:

Students are often doing it tough financially. Besides spending a fortune on expensive university education, they often have to work to support themselves. Even though HECS helps to pay a portion of our university education, many students are in debt for years after finishing their studies. So we need to manage our debt during student years to avoid having to pay it off for a long time after study has been finished.

• Consider public schools for college education: If you have to go state or private try saving up some funds beforehand.
• Invest into an early savings account for university education: It might even be a good idea to start a job while you are still at school. The sooner you pay of your student loan or HECS fees, the easier life will be in regards to financial pressures.
• Consider help from the family: If your parents can afford to loan you money on the cheap, then take them up on the offer. They might be able to draw equity on their home, giving them and you a cheaper interest rate in the process. However, they need to understand the dangers of a missed loan payment with these types of loans.
• Be consistent with your repayments: If you have no choice but to take out a student loan be consistent with your repayments. By paying more than you have to in the early stages of your loan you will save thousands of dollars over the span of your loan term.

Personal finance tips for personal reasons:

We often neglect ourselves financially but spend a fortune on our home, the kids, or even our pets. Since tax is a recurring event in our life many Australians struggle to come up with the necessary payments come July each year. To combat this you want to:

• Save 10 per cent of your income on each payday: Deposit this money into a separate savings account and only touch it on rainy days. You'd be surprised how much money you can save and do without if you just ignore it.
• Stop spending your last dollar: How many people spend more than they earn. Then come payday they can't wait for their pay packet because they have run dry. Be smarter than them.
• Always pay your bills on time to avoid a bad credit rating and expensive interest rate charges and fines: It is a wise idea to pay your credit card off in full each month. If you struggle to do this, consider avoiding credit cards altogether.
• Keep an emergency fund handy: Only touch it if absolutely necessary. Look at high interest savings accounts to deposit the money and top it up whenever you can. It should cover at least three months of your living expenses.
• Avoid debt where possible: Expenses such as cars and homes always attract debt. Unless you are born into a rich family it is impossible to pay for these things in cash and that's fine. But do you really need a personal loan to buy a TV?

Personal finance tips for life:

When you buy things such as household items, insurances, holidays, homes and more, there are good and bad ways to spend your money. Plus you can do a lot to save money in your life by following the tips below.

• Avoid extended warranty: These come at an expense - to you.
• Buy airline tickets early: The sooner you pay your tickets for that long awaited trip, the more money you might save.
• Eat at home: You'd be surprised how much money you can save by forfeiting one restaurant meal a week to eat at home. If you work in an office, make your own launches opposed to buying them in a cafe.
• Avoid excessive mobile phone usage: Unless you are on a good plan, only use the mobile to phone in emergencies. They do cost a lot of money.
• Be energy conscious at home: You can save money by switching to energy efficient light bulbs, turning off appliances at the main switch when not in use and even go solar. You can find moregreen tips on the Project Green Earth website.
• Save petrol by walking or taking the bus instead.
• Negotiate banking fees: You'd be surprised how much you can save by negotiating your terms. If they are reasonable enough chances are your bank will agree to them to keep you as a client.
• Negotiate on insurance cover: Sometimes it pays off to keep all insurance needs in a package.
• Pay off debt sooner than later: Especially if the debt is high-interest.

The most important personal finance tip...

You can receive all the advice you wish for, but unless you act on it, not much will happen. In fact, you probably end up further in debt than ever before. Keeping the finances organised is possible and with our finance tips you should be well armed to become debt-free sooner than later. Feel free to share your own proven personal finance tips with us in the comments below

We have created numerous articles that will provide you with Personal Finance Tips and Advice to help you reach your money and life goals:

• How Can Credit Cards Help With Personal Budgeting?
  

  Spending money comes easily to most people. It is usually when you have to confine yourself to a budget is when many people get into trouble. You will find, however, that using a credit card as a tool for budgeting is easier than you thought.



• Record Keeping To Maximise Your Tax Deductible Expenses
  

  Record keeping for tax purposes is a necessary function that needs to be done year-round. If you keep up with your organization, you will be much better prepared for tax time and may end up saving a lot of money as well.



• Income Tax Advice: Where To Go For Help ?
  

  It’s important that you get the proper income tax advice when you are preparing your income tax return. Income taxes can be very confusing, but with the right advice you will be much better prepared to get it done right.



• Tax Returns For Individuals
  

  If you need to get more information about tax returns for individuals you will find it here. Taxes can be confusing, but if you know what you need to do and are prepared for it, the process of filing a return can be much easier.



• How To Lodge Your 2009 Tax Return
  

  There are a lot of ways to learn how to lodge your 2009 tax return, and this article will show you how to go about doing it and where to look for help. Taxes can be challenging, and you may need some help getting started.



• Using your credit card to pay your Tax Bill
  

  The Australian Tax Office now accepts credit card as a payment method for tax bills. Read this article to find out more.



• State of Origin ANZ Stadium – Game 1
  

  Find out more about game 1 of the State of Origin at ANZ Stadium.



• How to Pay Your Tax Bill by Credit Card Payment
  

  Taxpayers can pay their tax bill by credit card but should be aware that some terms and conditions apply, such as card payment fees, the requirement of an ATO electronic funds transfer code and more.



• Banks of the Future: Banks With No Branch
  

  With the advent of the Internet, people are using technology more and more. With the click of a mouse, you are able to access an infinite amount of information. This will, undoubtedly, change how banks choosing to do their banking.



• 2009/2010 Financial Year Tax Tips & Tax Deductions Lodging Online Tax Return With ATO
  

  Knowing which tax deductions you can legally claim is one of the best ways to save money in our tough economy. There are many deductions that most people are not aware they can claim that relate to work, charity, or finances. Be sure to maintain proper documentation of your expense so that you can prove them on your tax return.



• Research Shows Women Have Increasing Influence When It Comes to Household Budget
  

  There are two things that are argued about among couples from around the globe. The first is money and you can probably guess the second. Money can be a major source of tension in families and it appears that many women are gaining the upper hand.



• How To Make More Money to Buy the things you Need and Want
  

  Many Australians have taken a break from spending due to economic conditions. But, if you want to buy the things you want there are ways to get around your lack of funds. A little ambition can take you a long way to getting back to spending money on the things you really want.



• Personal Finance Assessment: What Type Of Spending Behaviour Do You Follow?
  

  If you know what type of spender you are you can change your spending habits when the need arises. Most people fall into certain spending categories and they can be hard to break out of, especially if you never think about your spending habits. If you wonder where all your money goes each month you should probably evaluate your spending personality.



• Choosing Your Bank – An Important Financial Decision
  

  If you are in the process of choosing your bank there are several factors you should consider. You bank will be with you for a long time and the choice you make now will determine how easy or difficult it is to complete your financial transactions. You should consider things like location and their range of financial products before you make your decision.



• Save Money on Petrol
  

  If you are like many Australians and want to save money on petrol, then this article will give you some simple tips that can be implemented right away. The 10 tips alone are worth quite a bit of savings and will work for most people with cars.



• Tax Deductions – Common Tax Deductible Expenses
  

  Tax deductions are an important factor for every working person to consider. If you ignore deductible expenses you really are throwing money into the wind. Keep close track of all business related expenses and you will be surprised at home many of them are tax deductible.



• How to choose a Financial Advisor
  

  Understand how to find the best financial advisor. Know what to look for and how to narrow your search so that your final choice will reap the financial rewards you are looking for.



• Home Loan Health Check
  

  The Commonwealth Bank offers a health check for anyone that has a home loan with them. It is possible to end up saving a lot of money by simply taking 15 minutes to discuss your loan and find out if any changes can be made to save you money.
  The Commonwealth Bank offers a free 15 [...]



• How To Get Access To Extra Cash Funds
  

  Getting extra cash for emergency expenses can often become a lifesaving experience. Many of us struggle to grab some emergency cash when we need access to it because we don’t know how. Understand the ways in which you can get your hands on some extra cash. Weigh up your own needs to decide which option [...]



• How to Teach Your Children Healthy Money Habits
  

  Teaching your children some simple money tips now can set them up with good financial habits later on in the future. This article will help you teach your kids some simple money tips in order to help them develop an awareness of sensible spending habits that they can use for the rest of their lives.





• Page 1 of 4
• 1
• 2
• 3
• 4
• >


Editor's Choice: Our Top Credit Cards




Credit Card	Card Details	Interest Rate (p.a.)	Cash Advance Rate (p.a.)	Balance Transfer Rate (p.a.)	Annual fee	Interest free days (up to)
HSBC Credit Card	Editor's Choice: 0% for 6 months Balance Transfer & No Annual Fee Featuring a $0 annual fee for life, and 0% p.a. balance transfer for 6 months, the HSBC Credit Card was voted the Best Transactor Credit Card for 2010.	16.99%	20.75%	0% for 6 months	$0	55
Suncorp Clear Options Standard Visa Card	A great 12 month balance transfer offer, combined with a low annual fee and a good interest rate on purchases.	12.24%	17.99%	1.9% for 12 months	$39	0