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Wednesday, January 17, 2018 – PAGE 19
As part of the Ground to Table Program, Hut volunteers will offer regular
nutritious community lunches.
Nutritious community lunches
THE HUT COMMUNITY CENTRE
More than 77% of Australians consider
themselves to be ‘money smart’, new data has
According to Mortgage Choice’s inaugural
Australian Financial Savviness Whitepaper,
77.2% of Australians consider themselves to be
good with their money.
Mortgage Choice franchisee Matt Adam said
when the data was broken down into age groups
those over the age of 60 and those under the age
“Over 85% of those aged 60 years and over were
while almost 80% of those under the age of 30
gave themselves the same title.”
Those under the age of 30 considered
themselves to be far superior when it comes to
being money smart.
in the same way. According to the surveyed
respondents, to be ‘money smart’ you need to be
‘street smart’ and have the ability to make good
decisions with the money that you have.
Looking at the data, there are a variety of different
savvy’ Australians employ.
Just over 60% of Australians who labelled
themselves ‘money smart’ said they reviewed
accounts at least once weekly.
said it was critical to take a proactive approach
In addition, 68% of ‘money smart’ Australians
said they saved more than 10% of their regular
pay and put it towards ‘rainy day’ expenses,
while 68% said they thoroughly researched
they ensure their credit card is paid off in full each
without its hurdles. According to the Whitepaper,
more than one in three Australians struggle to
faced with too many choices.
“Australians are currently overwhelmed by too
important role in helping Australians to understand
the choices available to them.
“While our data found that one in three
Australians feel as though their circumstances
improved as a direct result.”
savviness.aspx to download the whitepaper.
For further information or to arrange an interview, please
contact Matthew Adam on 8398 2955 or at matthew.
It may be time to reconsider
some myths about property
With so much emphasis on
property in the media, it can be
But before investing in any type
of asset—including property—it
pays to consider the pros and
cons, and any commonly held
Here we bust three property
1. Prices always go up
Believing that property always
goes up is understandable—
especially given prices have
dramatically increased in our
major cities in recent years.
But like most investments, the
property market demonstrates
That means, at times property
performance can be stagnant
and show little or no growth.
And like many investment
cycles, a boom can be followed
by a bust.
2. All property is the same
When we think about property,
we tend to think about it as one
We generally take a
macroscopic view. We hear
about the performance of
Australian property and may
think that buying a property
anywhere will turn out to be
a good investment. But this
approach can lead to decisions
that fail to yield the results we
expect. Within the property
And property prices can depend
on the different economies they
have links to—as we’ve seen in
Australian mining towns where
prices reached record highs in
recent years only to be followed
by a sharp decline.
Similarly, we hear general
reports in the media that
property prices are rising and
this general sentiment can
set unrealistic expectations.
expectations in the CBD should
be markedly different from those
in a particular region or suburb.
But we may tend to think that
all prices in all areas will always
3. Property’s a sure thing
The combination of low
mortgage rates and rising home
values means debt levels have
In fact, the top 10% of leveraged
Australian households have
an average debt to disposable
income ratio of 600%.
If you cannot afford to repay a
home loan due to changes in
personal circumstances, such
as losing your job, your entire
Any slumps in house prices
could result in many people
being unable to cover
outstanding loan amounts if
forced to sell. It’s important to
term investment, even when
buying a home to live in – and
to borrow within your means so
If you take on a home loan,
consider buying insurance to
help protect you in case your
circumstances change and
you’re unable to meet your loan
When it comes to investing,
it’s important not to put all your
eggs in one basket.
That way you may be able
to protect your money by
spreading risk over different
about the types of investments
that may suit you.
For more information, or if you
would like to take a closer look
at the range of investment
opportunities that can help
you achieve your goals,
please contact Kym Thyer or
Troy Mickan at KTA Financial
Services on 8536 2022.
This article contains information that
is general in nature. It does not take
situation or needs of any particular
person. You need to consider your
making any decisions based on this
Pitfalls in property investment
Do you have the money smarts?
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