Money Magazine July 2018

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


letter of the month

Timely reminder of what really matters in life What a timely and insightful article from Marcus Padley (“Our most precious asset,” May issue). He reminds us all that money is not the utmost important ingredient in our lives. It is, simply put, time! We can have our money and its trappings but if we make these our priorities we will be missing out. Interestingly, I am guilty of making the preservation and hopeful expansion of my financial assets an obsessive priority at times but my wife is not. Through more than 50 years of marriage she has never asked nor sought more money for anything and, today, in our retirement years, nothing has changed. How lucky am I? We realise that we have what we need – adequate comforts, including a house, more than…

show kids the smart way

Last month, as part of our book competition, a Money reader sent us his top strategy for building wealth. His tip: start a business and invest. Sound advice, I thought, from a nine-year-old. This got me thinking: are our kids getting more money savvy? If money lessons are learnt, and not taught, can parents take the credit or are our children forced to get savvy because of the different challenges they face? I mean, when I was 17, the median house price in Brisbane was just $63,500, there was no such thing as Afterpay, cash was king, I had no mobile phone bill to deal with and uni was free! Research shows that having money conversations with your kids now can make a big difference to their financial future. As Maria Bekiaris…


Take responsibility While Kate raises some valid points (“Young workers miss out on super guarantee, Letters, June), I have a different approach to my teenage children’s work and income issues. I teach my children to be responsible for their own future and save a minimum of 50% of their total income. This should be completely possible while they are living at home (they are responsible for their own education and general personal spending costs aside from school fees). I teach them that rather than being dependent on the government or somebody else telling them to save, they should take responsibility for their own future. By the age of 16, both kids were able to purchase their first cars (second-hand, of course) in cash. Now, at 18 and 19, they are on their way…

what is the best money advice your parents gave you?

ROSS GREENWOOD Ross is Channel 9’s finance editor and Radio 2GB’s Money News host. Ross says: “The fairly typical advice my mother gave me was to put some money aside from each pay packet for my savings. Somehow I misconstrued this and decided an alternative strategy was to spend everything I earnt but to eventually earn more money than I could spend.” MATT BATEMAN Matt is co-founder of The Property Mentors. He says: “The best advice my parents gave me was, ‘If you really want something, go out and make it happen.’ More importantly, though, they then provided me with all the unconditional love and support to be unafraid to fail.” BERNADETTE SCHWERDT Bernadette is an author and founder of the Australian School of Copywriting. Bernadette says: “My dad loved asking for a discount. Be…

in your interest

You know, it never occurred to me that the current royal commission would interest me quite as much as it has. As I said last month, I had been expecting the terrible stories about poor advice, loans and so on. Money viewers and readers have been sending these to me for decades. They have formed the basis for many of the TV segments I have filmed and articles for the magazine. As I write this, the topic under scrutiny is parents guaranteeing a loan for the kids. This is a high-octane area of emotion and, at times, abuse of the elderly. It is a subject I have taken up time and time again through Money. It featured in one of my stories on the Money TV show in its first year…

regions have a lot to offer

To ease pressures on big city infrastructure, to capitalise on Australia’s phenomenal economic development potential in the Asian century, and as the most viable solution for Sydney’s (unfixable) housing affordability problem, more needs to be done to promote regional Australia. Take it from someone who has lived there, worked there, done lots of business there and helped hundreds of people to invest there. Employment growth in large parts of regional Australia has been strong over the past couple of years. Tourism, agribusiness, renewable energy, advanced manufacturing and natural resources are expected to keep thriving. Already one in three Australians choose not to live in our capital cities. In 2016-17, the regional population grew by 77,740. Thirty-three locations actually had population growth rates that were comparable with (or superior to) those of Adelaide,…