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Where to start when dealing with financial hardship

An action plan for facing financial hardship – what should I do first?

With a myriad of options on the table and a firehose of information being put out daily, where should you start? Coronavirus and the social distancing measures now in place to mitigate its impacts has lead to many Australians facing a loss or reduction in income. If that is you, where should you start... view article
April 7th 2020

Should I take money out of my super fund early?

Temporary early release of superannuation: who is eligible, should I use this option, how will it impact me later on?

Many Australians are facing difficult financial problems as a result of the social distancing policies associated with Coronavirus. Lost or reduced income often results in shortfalls each month and can lead to extreme financial hardship. One option on the table to support people through this is taking up to $10,000 from your Super fund... view article
April 6th 2020

Financial stress and maintaining a healthy mindset – COVID-19

With strong links between financial health & mental health what steps can you take to protect and minimise the impact of financial stress during COVID-19 and how can we maintain a healthy mindset?

The impacts of the Coronavirus aren’t just affecting our physical health but also the financial health of our country’s economy, businesses and individuals. If you’ve recently lost your job or have been financially impacted by the coronavirus it’s normal to be feeling added financial pressure, stress and anxiety during this time. It’s important to... view article
April 6th 2020

Early childhood education fee savings

Families with young children will be able to send their children to their care centres for free

Released 2 April 2020Families with young children will receive an additional break from 6th April, with the offer of free childcare through early learning and childcare centres. This package, along with JobKeeper is aimed at supporting the longer term viability of these businesses whose recent enrolment’s have become highly variable. It is also aimed... view article
April 3rd 2020

My Superannuation balance is falling… What should I do?

As the world deals with Coronavirus, international economies have been hit hard. Uncertainty has created market volatility at an extraordinary pace, leaving Aussies extremely worried about the impact on their superannuation.

So what’s actually happening? How should you react to the falls?Key points:Recent market volatility has led to a drop in superannuation balances. The falls in the past 30 days have been substantial in response to the evolving threat of the virus. Share market falls are normal. By reacting to this volatility now this... view article
April 2nd 2020

Should I reduce my minimum drawdown rate on my pension?

The pros and cons of reducing superannuation or pension minimum drawdown rates

Retirees now have the option to reduce their drawdown rates, so should you? On 22 March 2020, as part of their response to Coronavirus, the Government announced that retirees with account-based pensions and similar products would be able to reduce their drawdown rates. This measure is in response to the incredible market volatility we have... view article
April 2nd 2020

What support is available to businesses during the Coronavirus outbreak?

To date, several measures have been announced to support Australian businesses impacted by Coronavirus, and therefore, encouraging ongoing employment for their employees and long-term viability of otherwise successful businesses.

Business support snapshot JobKeeper – supporting business to retain their peopleThe ‘job keeper’ payment to Australian employers is worth $130 billion and is focused on supporting businesses in retaining wages for their employees. With increased social distancing measures closing further businesses over the last week and more Australians limiting their spending as a result of... view article
April 1st 2020

Government support – the third round

As the world passed three quarters of a million confirmed coronavirus cases, the Australian Government released its third economic stimulus and financial support package on the 30th of March.

Additional support for businesses and their employees The ‘job keeper’ payment to Australian employers is worth $130 billion and is focused on supporting businesses in retaining wages for their employees. With increased social distancing measures closing further businesses over the last week and more Australians limiting their spending as a result of staying home, many... view article
April 1st 2020

Simple guide to budgeting

Don't let the fear of the unknown stress you out. Build a budget and get clear on where you stand.

One of the greatest sources of money stress is uncertainty. Not knowing where you stand financially can be a source of anxiety. By understanding what you spend now, you can provide yourself with some clarity. You are then able to make informed decisions about what needs to happen next. The basics of budgeting Budgets are made... view article
March 30th 2020