Posted in Smart Money Management

Plus, why having a tailored debt reduction plan matters. If you're like most people trying to get ahead, you have probably heard of the terms 'good debt' and 'bad debt'. So, what do they each mean? And, can any sort of debt REALLY be a good thing? Put simply, while there are many definitions of what constitutes good vs bad debt, broadly speaking here's the deal: GOOD DEBT
Good debt is debt that's used to increase your net worth by buying assets...

We don't all learn from our mistakes. If you're in your 20's (30's or 40's!! :) Check out this Business Insider article which shares insights from influencial people who have built wealth over the years. Read here to find out what they had to say.   First step to managing your money better, take a look at Your Smart MoneyTool. ...

Make it a game! We've all had a genius idea at one point and wondered if and how we can make money from it.  Turns out we maybe onto something, we just need to sell it - simple!  Liz Davidson from Financial Finesse gives us 8 ways we can build wealth like millionaires. Put aside some of the american terms and focus on some the simple ideas put forward in the article. Remember often the best business ideas are the simple ones. We love the idea of throwing parties and s...

Learn how to overcome your fear of investing. If you're reading this blog, chances are you're giving some serious consideration to investing in property to help build your wealth and improve your financial security. After all, you've probably heard about the advantages of owning an investment property such as the tax deductions, having a tenant pay off the mortgage for you, and the fact that property values in Australia double on average every seven to 10 years. But...

Top considerations for lending (and spending) in Australia. It's no secret that Australians love to spend money. In fact, we owe about $100 billion in credit card and personal loan debt, according to the Australian Prudential and Regulation Authority. So, you are definitely not alone in wanting to know whether you're better off with a personal loan or a credit card. Firstly, there's no doubt credit cards are convenient and allow for immediate spending, but with an a...