Money Magazine July 2020

Money magazine is Australia’s longest-running, highest-selling and most-read personal finance magazine. Money magazine provides credible, independent, easy-to-understand financial advice to help its readers save money and make the most of their investments.

Rainmaker Information Pty Limited
11 号


be decisive to stay on track

If you’re picking up this magazine for the first time, welcome to the Money club. We’re a bunch of pragmatic optimists here. In the past three months, we’ve dug up saving ideas and smart spending tips on how to keep your finances on track despite the pandemic. We also told our faithful readers at the height of the Covid-19 restrictions in late March to hang in there. Sanity will return. True to form, the markets remain volatile but they have bounced back since March. It feels like we are now entering phase two, that fragile wait-and-see period before we can leave the health crisis behind. We’ve avoided a cataclysmic spread of infection; now we need to figure out how to keep our finances under control. In this issue, we feature our annual…

letter of the month

Great advice at just the right time Synchronicity at its best! I have just read your magazine for the first time. Margaret Lomas’s answer to “How the Bank of Mum can help” (May, page 25) is a question we have been pondering. While my daughter is in employment, the clear, concise and considered advice is informative to the point my reading of Money will not be the last. The articles around the impact and effect of Covid-19 are most helpful in these unprecedented times. One hopes Paul’s words –“I suspect we will have less emphasis on money and more on the value of our own lives, those we love, and our community” (May, page 28) – ring true for the years ahead. Now back to my armchair travels … American Journeys and Slow Boats…


Working from home is no silver bullet for parents During the pandemic, companies thought that working from home is somehow a silver bullet. It may have been for people who don’t have young children, but not for me. Both my wife and I are migrants (with no other family here except our seven-year-old daughter) and we are both essential workers. Although I can work from home, my daughter’s school and OSHC (outside school hours care) were closed. My wife needed to be at work on the front line, but how I was expected to maintain the same level of productivity or focus in online meetings as a full-time-worker at home (while also being a parent and teacher to our daughter) is beyond me. There were few provisions or concessions from companies or the…


Contact us To send a letter to the editor, write to: Money, Level 7, 55 Clarence Street, Sydney NSW 2000 or email For all inquiries and letters, please include name, address and phone details. Letters may be edited for clarity or space. Because of the high number of letters received, no personal replies are possible. How to get Money Subscribe to the print or digital edition, as well as our free weekly email newsletter via the Money website or: Online: money-magazine Call: 136 116…

what savings tips have you learnt in lockdown?

ANNETTE SAMPSON Annette, who contributes our What If? column, says: “Lockdown showed me how easy it is to save by simply removing non-essential spending from your life. Without trying, my spending dropped substantially and I now think twice about whether I really need something. The other thing I learnt is that making your own sourdough is much more time consuming and expensive than buying it!” ALAN DEANS Alan, our Interview writer, says: “Buying bargains online often risks disappointment because it’s hard to ship them, especially if they’re offshore. If you have your heart set on something, contact the seller and ask them to check with their shipper about how they send it to Australia. Use a reputable site like Amazon in case you need to claim a refund when nothing arrives. And keep…

signs of a revival

Conscious spending is about focusing your spending on what makes you feel good Businesses are starting to reopen as I write this in early June and, providing we keep a lid on Covid-19 community transmissions, it should be the start of a reawakening of our economy. It’s been three months of life as we’ve not known it before. We’ve missed birthdays, weddings, funerals and the federal budget – something that I mark in my diary at the beginning of the year as a steady date. It’s been postponed until October 6 – so much is in disarray. Accountants and lawyers are likely to be our busiest professionals in the coming months. Accountants will help people with their tax returns and Covid-19 allowances, and assist small businesses to get back on financial track. Lawyers are…