5 Rules to Keep Your Business and Personal Money Healthy
In this article, we delve into the essential strategies for maintaining a healthy balance between your business and personal finances. From setting up robust budgeting practices to understanding the importance of separate emergency funds, and navigating the complexities of insurance coverage including health, life, and disability insurances, this guide is designed to safeguard both your personal well-being and business success. By illustrating practical steps and real-life scenarios, we aim to empower entrepreneurs with the knowledge to make informed financial decisions, ensuring a stable and prosperous journey in both their personal lives and business ventures.
Superannuation Contributions in 2024 and Beyond
Superannuation is more than just a pot of money for retirement. It is your lifeline when you transition from working life to retirement and a powerful tool for building wealth. Investments in super are concessionally taxed at 15% making it a smart choice for tax planning. As you approach retirement, having a Self-Managed Superfund (SMSF) and an investment strategy that involves franking credits become even more compelling as your superfund becomes tax free at retirement.
What’s a Super Retirement Bonus?
Understanding retirement bonuses from super funds can help you get more money for your retirement. These bonuses are a way for super funds to thank you for keeping your money with them as you move from working to retiring. Not all super funds offer these bonuses, and they can vary a lot, so it's important to check how they fit into your overall money plan.
Evolving Role of the Bank of Mum and Dad
Buying an affordable house in Australia is becoming increasingly difficult, and we have noticed more parents are helping their kids get into their own first homes. If you are in the fortunate position to help your children out and you are planning to do so, there are certain implications that you need to think about before proceeding.
Plan Ahead of the Stage 3 Tax Cuts
With the Stage 3 Tax Cuts just around the corner, now's the time to start thinking about what these changes mean for you. Whether you're running your own business or managing your household budget, understanding these tax adjustments could make a big difference to your finances. From paying less tax to finding new ways to save and invest, these changes are designed to make things a bit easier for many of us. Let's dive into how you can prepare and make the most of the opportunities these tax cuts are bringing to the table.
What’s all this about Stage 3 Tax Changes?
Unless you have been hiding somewhere, you will have seen and heard a lot about the changes to the ‘stage 3 tax cuts’ that the Commonwealth recently announced. Two thirds of people support the changes. So, what are they?
Annual Financial Planning Checklist 2024
Building a personal financial plan means closely looking at your money situation. This includes checking your income, savings, and any money you owe, like loans and credit card debts. You also need to think about your regular bills and how they fit with your future money goals, such as saving for retirement or investing wisely. Having a yearly checklist helps you keep track of it all, making sure you're on track to meet your goals and keep your finances in good shape.
Think About Business Coaching
Business coaching is a valuable tool for business owners seeking to enhance their performance, overcome challenges, and achieve sustainable financial and personal success. Here are ten major benefits of effective business coaching.
A 20-Something’s Quick Guide to Super
Retirement can seem a long way off for people in their 20s and 30s. But super is also compulsory, so it makes sense to ensure that you have the right settings for yours, no matter how far away retirement might seem. Here’s five key things to think about when it comes to your super.