Mortgage Repayments – Our Top Five Tips to Get Ahead

Taking out a mortgage is one of the most significant financial decisions that you’ll ever make. However, things don’t end there as there’s still the matter of paying your mortgage (as much as we would like to avoid this part of buying a home!).  While it can feel intimidating to have a huge mortgage, paying off your home loan ahead of schedule isn’t as difficult as you may think. Granted,…  Read more

5 Financial Tips for Your 30s

Your 30s are an exciting time. You’re typically making more money than you were in your 20s and you’re looking to the future to determine the type of life you want to live. Your 30s are also a great time to take control of your finances, so you have more security and flexibility in the coming years. Here are 5 financial tips to follow in your 30s, to help you…  Read more

Tax Implications of Cryptocurrency (AU)

With cryptocurrencies gaining notoriety, many people are unclear on how or when they can be taxed. Despite widespread belief to the contrary, you can be taxed on gains made as a result of obtaining or using cryptocurrency. If you’ve made a profit from trading cryptocurrency, for example, you need to declare it at tax time. Here is some important information on cryptocurrencies and their implications for your taxes. How cryptocurrency…  Read more

Building a Personal Financial Plan – Essential Tips from Our Advisors

When it comes to understanding the fundamentals of money and managing your finances, it can be intimidating to begin if you don’t know where to start. Most of the time, however, money management can be relatively simple.  At the end of the day, you don’t have to be a financial genius to handle your finances, nor do you have to spend all your time and energy on knowing what to…  Read more

5 Steps to an Early Retirement

For some people, early retirement is a choice. For others, it’s a necessity. Regardless of which group you fall into, there are some steps you can take to help make early retirement a reality and live the life you dream about. 1. Know your goals Before you know exactly how much money you need to save, you need to know your goals for retirement. Do you want to live in…  Read more

5 Steps to Early Retirement

For some people, early retirement is a choice. For others, it’s a necessity. Regardless of which group you fall into, there are some steps you can take to help make early retirement a reality and live the life you dream about. 1. Know your goals Before you know exactly how much money you need to save, you need to know your goals for retirement. Do you want to live in…  Read more

Stocks: Eight Ways to Become a Better Investor

Everyone would like to become a better investor. People get into a twist trying this method and that only to abandon their stocks for the next new thing. There’s an easier way, and it involves following a few simple suggestions.   Stop watching the market and start your watching stocks Just because the market is frothy doesn’t mean your stock’s price is. Just because the market is sinking doesn’t mean…  Read more

6 Tips to Get Back Control of Your Money

Feeling like you’ve lost control of your finances? Everything is going to debt and nothing for you and your family to enjoy life? Living a debt-free life is one of the dreams of many people. However, paying down your debt is easier said than done. Some people struggle to keep up with their monthly bills and become overwhelmed with the amount of debt they have to pay. In these circumstances,…  Read more

What is good debt? What’s bad debt? Which ones do you have?

There are so many ways to rack up debt that sometimes we don’t even think about it anymore. Student loans, mortgages, car loans, credit cards… which ones are good and which are bad? Essentially, bad debt costs you money and good debt makes you money. Let us explain:   Good Debts Student Loans (HELP/HECS) Why are they good? Student loans are an investment in your future, opening up different career…  Read more

5 Hacks for Financial Fulfilment

Having total financial control can give you an amazing sense of freedom. However, it takes a lot of discipline and hard work for you to be able to achieve this. In this article, we’ll share some useful tips that you can start now to live a better financial life. Build multiple sources of income Whether it’s through your business, a side hustle, or investing, building your income network can help…  Read more

Life Insurance: Fact vs Fiction

There’s a fair bit of misinformation when it comes to life insurance – so here’s some general facts to think about when deciding if you’d like to get protected.   Life Insurance is Expensive Not necessarily! Policies and premiums vary based on a variety of factors such as age, health and lifestyle. It can be less than $1 per day for a non-smoking 30-year-old to have comprehensive cover.   Life…  Read more

Do you need to plan for your retirement?

Longer life expectancy is creating difficulties when it comes to navigating the financial and emotional realities of retirement. With the developments of modern medicine and technologies, life expectancy is changing. In fact, an Australian today who is over the age of 65 is likely to live well into their 90s! With longer life expectancies, most retirees can’t afford to stay on autopilot with their retirement – there’s a growing number…  Read more

Choosing a financial adviser

It’s important to find a financial adviser that suits your needs and understands your goals. Your financial adviser should work with you to look at your finances and create a plan to help you achieve financial freedom. So, steps to choosing a financial adviser:   Check that they have an Australian Financial Services (AFS) License. ASIC issues this license when a business proves they can meet a minimum standard for…  Read more

Superannuation for Women: What you need to know

Superannuation is actually quite straightforward, but many people struggle with understanding how it works and why it’s important. We hear lots of clients claiming they don’t really need super – because they’ll just use the aged pension when they retire. While the aged pension does provide that support, many Australians value a broad range of leisure and recreational activities and having super saved up is a good way to ensure…  Read more

What is debt consolidation?

Debt consolidation, also known as refinancing, is rolling multiple debts and loans in to one joined loan. There are many benefits to this – however, there are some risks that you need to be aware of.   Consider: Unrealistic Promises It’s unrealistic to believe that a company is able to completely free you from debt. Don’t trust a company that promises you this, and look out for ones that: Are…  Read more

Life Lessons to Teach Your Kids If You Want Them To Be Rich

Everyone wants the best for their children, and this includes being rich. Being rich is not just about money– it is about wealth in all aspects of life. In this article, we will share some life lessons you must teach your kids while they’re young to help them grow into adults who can build financial wealth, meaningful relationships, and an overall happy life. Lead by example Children learn from their…  Read more

How to turn your hobby into a business

Thinking about turning your passion into a paying gig? These steps will help you avoid some common mistakes as you set out to earn an income from your favorite pastime. Do you have what it takes? Unless you’ve run a business before, it’s easy to get carried away with the idea of how perfect it will be to get paid for doing what you love. Reality check: the stress of…  Read more

Covid-19 and Personal Insurance

We have all taken physical safety measures to protect ourselves and our loved ones through this pandemic. Just as wearing a mask, social distancing and increasing sanitation help protect your family from Covid, life insurance can help protect them if you get ill or injured. Covid-19 has a lot of Aussies thinking about the impacts of major injuries or illnesses and how their family would cope if the dominant, or…  Read more

The parent trap: should you loan to your kids to help them buy?

More young people are turning to parents for financial assistance with the purchase of their first home, but is lending money from ‘the bank of mum & dad’ a good idea? Or should you be guiding your children towards other options? The ‘Great Australian Dream’ has always centred around owning property, and as a parent, it’s only natural to want to help your kids enter the property market as early…  Read more

Steps to Grow Your Wealth (and work towards Financial Freedom)

People often believe it will take drastic and sudden change to achieve financial freedom. While many of us hope to win the lotto or have a mysterious older relative leave us with a small fortune, unfortunately this doesn’t happen to a lot of people. That doesn’t mean you can’t reach financial freedom though; here at 123 Financial Group, we can help change your mindset and plan for your future to…  Read more

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