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25.01.2022 Here at #Sprout_Ed, we often talk about the importance of having a 'money buddy' and a 'financial cheer squad' to help us improve our financial wellbeing. Having a money buddy isn't just about accountability - it's having someone you trust share your journey, encouraging each other to learn, to keep doing the things you do well, and change money habits that you don't want to do anymore. Your financial cheer squad is the team to support you along the way and may include profes...sionals like financial advisers, accountants, solicitors, insurance and banking specialists. As Fiona Guthrie, chief executive of Financial Counselling Australia, says in the linked article, if you feel you could do better with managing your money, just talking openly about money with someone is a great first step. "Once we tell people about our goals and dreams, it means we're more likely to achieve them," she says. https://www.abc.net.au//using-financial-accountab/12214554

23.01.2022 Flashback to 2017. Like many people working in the #financialeducation space, I’ve always loved talking about the money stuff from a practical perspective; understanding our ‘whys’ helps gives us control over our ‘whats’.

23.01.2022 This is so sweet - and there’s a bit of financial socialisation happening too

22.01.2022 Do you know any young carers? Little Dreamers Australia has started 'Money Matters', a podcast for to navigating the world of money and owning your finances for young carers. "Every fortnight, join Little Dreamers founder, Madeleine Buchner, as she explores everything you’ve ever wanted to know about money. From balancing part-time jobs with caring responsibilities, to saving money and learning about tax in ways you can understand (finally), this podcast will demystify the w...orld of money and help you take control of your finances, one transaction at a time." Isn't it a fabulous initiative? The podcast is supported by Ecstra Foundation.

21.01.2022 Do you know the history of school banking in Australia? It's fascinating, even if you aren't a finance nerd. Did you have a school banking account? This clip from 1951 is an insight into what it used to look like. https://aso.gov.au//s/commonwealth-bank-school-bank/clip1/

17.01.2022 This is a really interesting article, well worth the read. This research highlights the paradox of happiness: the more you chase it the more elusive it becomes. Instead, it suggests, "we might do better by focusing on the things that protect us against feeling devastated by bad events". The most important factors, the authors conclude, are strong relationships, good health and managing exposure to financial losses.... https://theconversation.com/marriage-and-money-help-but-don

15.01.2022 Great to see so much more happening in this space.

14.01.2022 Summer reading sorted: a bit more fiction than usually makes the pile. What are you reading?

11.01.2022 Here is to a new (financial) year, fresh starts and creating new habits!

10.01.2022 What are your thoughts? What are the pros and cons of this move?

09.01.2022 This is quite worrying. We can understand the need to access super early, but the long-term impact on financial security will be tremendous. https://www.abc.net.au//superannuation-withdrawal/12306710

07.01.2022 https://www.cnbc.com//fathers-day-letter-to-kid-money-life

07.01.2022 Have you applied for early access of your superannuation, or thinking of doing so? The Australian Taxation Office has some released some information about how it will ensure the integrity of the tax and super system, and sent a strong message that it will take action where people deliberately exploit the system. The link below includes explanations and worked case studies. https://www.ato.gov.au//COVID-19-Early-release-of-super--/

05.01.2022 Interesting move from NAB, but this is where understanding the true cost of credit comes in handy. No interest, $20 a month fee which equals $240 a year in fees. Assuming your card is maxed out at the $3000 limit, that works out to be equivalent to 8% interest ($240/$3000 = 8%) and even higher the lower your balance. #notfreemoney #creditcosts... https://www.businessinsider.com.au/nab-interest-free-credit

03.01.2022 Do you have a home loan? Does it have a redraw facility? Do you know that the T&Cs usually allow the banks to suspend the facility, which basically means you can’t withdraw the extra money you’ve paid into your loan? As you can read in the linked article, some banks are putting this clause into practice. While you don’t lose the money - it stays paid off your loan -you do lose the ability to withdraw some or all of it, and that can cause problems if you’ve paid extra into the... loan with the idea of accessing the money in an emergency or for a specific purpose. If you have an offset account you can breathe more easily because offsets work differently to a redraw. While a redraw allows you to take out extra money paid into your home loan account, offsets are structured as separate accounts. If you’re not sure how the redraw/offset difference could affect you, give your bank a call and have a chat. If you have a home loan with a redraw, you may want to think about the pros and cons of moving any extra money you’ve paid into a separate account so you retain access to it. Remember, it’s always good to get advice for your own situation to make sure any financial decision is right for you. https://www.theguardian.com//customers-angry-as-me-bank-sl

03.01.2022 One year ago today, our family of five was in Sydney about to embark on a much anticipated, well planned, and long saved for five week adventure to Japan ahead of the Rugby World Cup. Little did we know that just two weeks later, life as we knew it would change dramatically. If you're someone who thinks life insurance is a waste of time, or it's something that you just keep putting off, then you need to hear my story.... I've shared it as part of the Money Debates here: https://money-debates.heysummit.com//lived-experience-nav/ #womenandwealth #moneydebates2020 #insurance #whatif #life #financialeducation #health #acuteintermittentporphyria #AIP #posteriorreversibleencephalopathysyndrome #PRES

01.01.2022 The Money Debates Virtual Summit, initiated by Money School, starts tomorrow. Individuals can get an all-access pass to the entire event - debates and pre-recorded educational talks - for $11. "Challenge your thinking and develop your own opinions as leading financial educators, practitioners and academics share their expertise in educational talks and as they debate topics that have no absolute correct or incorrect answer. You'll hear from 20+ speakers and proactively impro...ve your financial wellbeing beyond this global pandemic." Details are in the link.