When I was growing up, I was taught at a very young age that saving money is very important. I even had a Commonwealth Bank Dolomite account where I could see my savings increase over a number of years. It was 1989 and I clearly remember the day my Dolomite account reached $10, wow what a milestone. I could buy 2 packet of chips, two chocolate bars and 100 packets of Wizz-Fizz. Saving really does work!
No doubt September 11, 2001 changed everything. Security concerns increased, navigating airports became a new kind of nightmare and the United States and Australia went to war in two far-away lands. By looking at the changes in prices over the last 10 years you can take with you some great personal finance lessons.
Prosper Australia, a tax reform lobby group, say the property bubble burst is imminent and first home buyers should stand aside because they will be the worst impacted when property prices fall.
Many people ask me, “How much should I invest?”. Today I want to share with you the secrets from the world famous book “The Richest Man in Babylon,” I want to touch on what you need in your budget and explain how financial planning can help you achieve long-term financial goals and financial independence.
Unfortunately, one of the factors that will prevent many people from becoming financially successful is their false beliefs about money. In fact, widespread financial myths can negatively impact both your short and long-term net worth.
As I moved up in various companies, I took on more responsibility which meant longer hours, more stress and time away from home. I remember when I was earning $40k p/a I thought all my money problems would be over if I only earned 50k p/a. A few years later when I reached that goal I found myself in the exact same position as when I was earning 40k p/a.
I confess I’m a child of the 80s and the Pet Shop Boys – despite what we think now – were musical gods. One of their songs stated “You’ve got the brains, I’ve got the looks, let’s make lots of money”.
When I was growing up, I was taught at a very young age that saving money is very important. I even had a Commonwealth Bank Dolomite account where I could see my savings increase over a number of years. It was 1989 and I clearly remember the day when my Dolomite account reached $10, wow what a milestone. I could buy 2 packet of chips, two chocolate bars and 100 packets of whiz-fiz. Saving really does work!
I keep having a conversation with people lately about why they’re afraid of investing in property, so I thought it was worth looking at the main thing holding them back.
Property investing can be likened to sport – it takes practice to perfect your skills and achieve winning results. Recently I attended a rugby match. I was only there as my husband has the misconceived idea that one day the Kiwis will beat the Aussies – alas he was proven wrong again. I don’t understand the game but it doesn’t stop me cheering from the sidelines and I do appreciate the skill of those playing.
Meet Justin |
 Justin Wood is the director of Property Toolbox Australia, a successful investor and a leading expert in wealth creation through property, businesses and commodities. |
Meet Lillian |
 Lillian is a successful property investor and business owner with over 7 years experience in the banking and finance industry. |
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