September 2019 Newsletter

image of a city skyline and river



Have you heard of a financial health check before? We can all relate to the terminology ‘health check’ when associated with a doctor or dentist. Many of us often routinely have checks every six to 12-months. However, when was the last time you carried out a financial health check? Our financial position (aka ‘financial condition’) can make or break us and have a direct impact on our lifestyle, day-to-day living, children, family and well-being. Ongoing regular financial health checks should be undertaken as a preventative action or to diagnose an issue that you may be facing. It is a process of taking the time to assess, review, understand, modify and commit to what is required to feel financially healthier. When was the last time you undertook a financial health check? It is easy and possible for you to undertake a simple check or you can meet with an expert financial advisor or accountant for the best advice and results.


Most of us at some stage would have heard of the saying “There is no such thing as easy money!” Easy money is often defined as money obtained by dubious means or being dishonest, money available at relatively low interest or money that can be generated that requires little effort or work on one’s behalf. The saying “How to make easy money” does infer to many the thought of risk or a dubious investment/opportunity. However, making easy money could never be easier… risk free, completely legal and it will require very little effort. But wait, there is a catch… you are going to have to invest in your time, which is something that we are often poor in. It can almost be certain (with just a fraction of ‘the exception to the rule’) that you will make easy money by undertaking a financial health check. With little effort you can make or put hundreds if not thousands of dollars back into your bank account. We encourage you to set aside some time to review and action this checklist guide and let us know how much ‘easy money’ you made or saved each month. One investor made or saved over $3,000 upfront and over $1,800 per month in just 3 hours. HOW?… By investing time into a health check. Making good choices and being able to compare product to product can be overwhelming to many. We recommend taking the time to do your preliminary research on the Internet and then talk to the experts.



If you can diagnose any of the below symptoms, you may need to improve your money health.

Thought-Provoking Questions

  1.  Do you know the total of your debts owing?
  2. Do you know your debt to income ratio?
  3. Can you easily access an emergency $1,000 within 48 hours?
  4. Do you know if you can get a better deal on interest rates, premiums, house utilities and general monthly expenses?
  5. Are you only paying minimum monthly repayments on your cards?
  6. Are you often late in paying your bills?
  7. Are you using your credit card for cash withdrawals?
  8. Are you borrowing to pay your debts?
  9. Do you have three to six months of expenses in your bank account?
  10. Have you established a financial budget?

To Do Tips

  1. Determine your net worth by listing your assets and deducting your liability. This is the quickest way to review your financial status.
  2. Calculate your debt to income ratio by taking the total amount you pay in debt payments and divide it by your monthly gross income. E.g. Your monthly debts are: Car $300 Mortgage $1800, Personal Loan $200, Credit Card $150, etc. and your gross income is $7000. $2450/$7000 = 0.35%. If your ratio is 40-50% it is time to act. Most lenders recommend 30 percent or lower.
  3. Make a list of all your expenses and see if you can get a better deal? Make it a challenge and set a financial outcome goal. Start with the end in mind and focus your energy on getting real results. This is our best tip for making and saving easy money. If you have not done this before, you may be shocked by the outcome.


Checklist Tips

Review your:

Loan types, interest rates, ROI, terms, return percent, fees & charges:  Home loan/s  Investment loan/s  Personal loan/s  Business loan/s  Student loan/s Term deposit/s  Shares  Managed funds  Superannuation  Credit card/s

Insurances:  Health  Pet  Car  Income Protection  Building  Content  Landlord Protection  Life  Funeral  Mortgage  Travel  Permanent disability

Utility & on-going plans:  Electricity  Gas  Telephone  Mobile  Internet  Pay TV  Roadside assistance

General and hourly rates: Be proactive and plan so you don’t get financially caught paying too much. Start now and build a network of reliable, competitive trade people connections.  Pool care  Lawn care  Computer support  Air conditioning servicing  Plumbers  Handyman  Electricians  Car wash  Car servicing

Considerations:  Loan restructuring  Frequency of payments  Fixed or variable options  Interest only/Principal  Line of credit  Split loans  Redraw facility  Offset account

There really are endless opportunities to make easy money and save money.


If you are looking to invest in property soon and have ever considered if houses or units return a higher yield, then our data chart below will provide you with a better-informed understanding comparing properties across all capital cities to help you compare property types.


Rental yield is calculated by multiplying the weekly rent by 52 (number of weeks in a year) and then dividing that number by the price the property was purchased for.