by Jodie | Feb 2, 2014 | Budget, Budgeting, Debt Management, Finances, General, Money
Being honest about what we have, or don’t have can be a start to cleaning up our financial life. For whatever reasons (upbringing, culture, entrenched ideas) many suffer from money shame. Sweeping our financial issues and emotional baggage around the issue under the carpet might hide our situation from others, but doesn’t help us, short or long term.
Often, we’d rather not speak up and tell someone if we can’t afford a certain outing or meal with friends. We want to fit in, hang out and be accepted so we can lie to ourselves and others rather than be honest about where we’re at.
There should be no shame or embarrassment in speaking the truth. So, if it’s time for you to ‘man up’ (or ‘lady up’ as the case may be) with your finances, here’s a new way of looking at things that may help out.
Do speak up! Be brave enough to tell your family, kids or friends ‘I’m watching my money these days. I’ve got some dreams I’m pursuing and that’s my current priority.’ It may be that you’ve decided to get on top of your credit card debt, save for that trip you’ve always wanted, be serious about that housing deposit or just be more mindful about where your money goes. Putting it out on the line often means we then will be accountable for our actions and have a better chance of achieving our dreams.
Perhaps you could offer offer an alternative when social invitations arise. You might not be able to afford go out to dinner and a movie, but maybe you can have a night in with a video, popcorn and drinks. Could your friends come back for a cuppa and bickies later? Have a supper or dinner party at home where friends are responsible for different plates to share, and importantly, let others know when your kicking your financial goals. Have a celebratory bubbles or whatever lights your fire, when you do clear the credit card. We often forget to pat ourselves on the back, even for little achievements, so have milestones that you work to along the way and enjoy the sense of achievement as you go.
Often saying ‘I can’t afford it’ feels shameful or embarrassing and we may feel we’re a burden on our friends, even a killjoy, but there’s no shame in standing up and being honest about what you choose to spend your hard earned dollars on.
Possibly, some of your friends may even be inspired to watch their own dollars and cents more closely, or take better charge of their financial journey.
It’s your choice to shrug off the shame and make positive and constructive choices around money.
And if you want a hand with budgeting, don’t be afraid to ask. An investment in ‘getting it together’ may just be the best decision you’ll ever make!
by Jodie | Nov 25, 2013 | Advisers, Business, Finances, General, Social Media
November 25, 2013 – The Financial Standard Power 50 was announced last week at an event hosted by Financial Standard and principle sponsor Zurich at the Gowings Bar & Grill in Sydney.
The #FS Power 50 is a list of the fifty most impressive social media activists in the Financial Services sector. The list is a combination of individuals who have distinguished themselves as shining lights in the digital world. They are the innovators, influencers and communicators who combine clout and class to take centrestage in the Financial Services discussion in Australia.
The list was adjudicated by a panel led by Financial Standard Head of Media and Publisher Michelle Baltazar, “We were looking for digital activists that cut through the discussions and added value to their audiences. Our thinking was that the Power 50 needed to be both the effective vectors of content and interesting conversationalists.”
Commenting on the list’s launch, Financial Services Council senior policy manager and Power 50 member Cecilia Storniolo said, “Congratulations to Financial Standard on the publication of #FSPower50 which celebrates the power and benefits of leveraging social media to connect the connected within the world of financial services. I’m honoured to be named amongst them.”
The Power 50 are showcased in a print guide with a complimentary online version available at www.financialstandard.com.au/fspower50.
For the full press release, please click here.
Amanda Cassar of Wealth Planning Partners was pleased to be announced in the Financial Standard Digital Dozen, the FS Power 50 and to walk away with The Conversationalist Award (jointly with Karin Hanna of Financially Fabulous) on the night!
by Jodie | Apr 30, 2013 | General
Do you like to have a punt?
I once declined placing a bet on the Melbourne Cup and was told I was absolutely, positively UnAustralian! I’ve never even played Two-Up on ANZAC Day… Just saying!
But then, gambling on anything has never been my thing. I feel I work way too hard to give it away. And I’m not sure I’m ever going to be the luckiest chick on the planet when the roll of a dice, randomly chosen numbers or the athletic ability of an animal I’ve chosen based on the pretty colour of jockey’s silk is the deciding factor.
Plenty I know tho, do like to have a punt on the races – whether the gee-gees or the dish lickers and regularly allocate part of their salary to this pastime. And most non-gamblers will even purchase a ticket or two when Lotto run their massive $20million+ draws!
The Australian Bureau of Statistics (ABS) state that gambling activity grew enormously during the nineties. ABS data revealed that expenditure on legalised gambling exceeded $11 billion back in 1998 and by 2010 this was over $17 billion!
So, it turns out, we all have ‘a thing,’ something that’s important to us, that we choose to ‘waste the ready’ on. I may be guilty of a shoe fetish or spending on a spot of jewellery, and although gambling is not ‘my thing,’ you may choose to allocate part of your earnings to looking forward to the big win and retiring in style – proving all the doomsayers wrong!
Like anything, it’s about keeping it all in perspective, staying on top of debt and never spending more than we earn. I have a quick chat about the issue on a recent trip to Las Vegas.
Find out more on my YouTube blog here: Does Gambling form part of your Financial Plan?
by Jodie | Apr 29, 2013 | Economy, Finances, General, US Economy
As most of us are aware, Michigan was severely hit by the Global Financial Crisis and that particular state of the US certainly was one of the hardest hit in the nation due to their strong reliance on the car industry.
We heard about the issues facing the automotive industry, which in turn led to an employment crisis in the area. Since the year 2000, employment declined by nearly half a million jobs or 10.5% with a 36.9% loss of manufacturing jobs, and a 50% loss of employment in vehicle manufacturing.
These stats, combined with personal credit debt, rising foreclosures by the banks and dropping consumer confidence impacted the broader community and things were incredibly grim.
Policy responses of temporary cash infusions, increased rebates and interest rate cuts have either helped relieve financial markets over time; or worsen and deepen the crisis, depending on your particular point of view.
However, on my recent visit in March 2013, I found although it was happening slowly, there was a cautious feeling of optimism emerging.
Some plants had reopened, or put to different uses, and staff had been rehired. Things appear on the surface at least, to be on the mend.
Here’s our Video Blog on YouTube: Financial update from Michigan, USA
by Jodie | Apr 29, 2013 | Advisers, Debt Management, Finances, General, Investments
We’ve all heard the stories: Lotto winners broke within a couple of years, professional athletes running out of money and filing for bankruptcy, and those with a windfall or inheritance wondering where it all went.
It’s stories like these that inspired Amanda Cassar to do a short video blog when recently staying at the Bellagio in Las Vegas to discuss the importance of a financial plan and having a professional help with managing your money.
See more here on our YouTube clip: Managing a Financial Windfall
![New Year’s Resolutions already forgotten?]()
by Jodie | Jan 18, 2013 | Finances, General
So it’s already half way through January are most of us are wondering where those few weeks of R&R went. So how are you going with those Resolutions you made? Still hanging in there or already over?
I thought I’d have a look at the Top 10 New Year’s Resolutions made and see how they tally with yours. According to the website squidoo.com, these are the Top 10 on the Resolution List are:
1. Stop Smoking
2. Get into a Habit of being Fit
3. Lose Weight – the Battle of the Bulge
4. Enjoy Life More.
5. Quit Drinking
6. Organise Yourself – this is one of the keys to reaching your goals
7. Learn Something New
8. Get out of Debt
9. Spend More Time With Family
10. Help People.
The way I see it, over half of these involve either saving or spending money to achieve.
I’d suggest perhaps just hitting your top two or three and seeing how you go with achieving these before moving on. Some motivation might come from setting a basic budget – i.e. seeing how much you’ll save on quitting smoking and reducing grog.
All this talk of new year resolutions can be a bit overwhelming. Goal setting is great, but when it comes to strict diets and gruelling work targets, studies show that if we’re too hard on ourselves we’re actually more likely to binge, burnout and end up going further backwards than forwards.
When it comes to making long term changes, the old adage of “slow and steady wins the race” is often best. We like that idea much better! Perhaps buddy up with a pal with similar plans and kill two or more birds with one stone – you may Get into a habit of Being Fit, Lose Weight, and Enjoy Life More… all at the same time! Then again Quitting Smoking and Reducing the Grog may also help with Getting out of Debt!
And always – if you need the help of friends, family or an expert – never be afraid to ask.
Hope 2013 is a cracker of a year for you!
by Jodie | Nov 14, 2012 | In The Media
Well, I do love to travel and really enjoyed heading to fabulous Melbourne for the Women in Finance Vic (WIF) working lunch. I don’t need much arm twisting to get me to Victoria and was glad to combine some appointments with clients, colleagues and a great lunch.
WIF had combined forces with the Australian Centre for Financial Studies and the Financial Services Institute of Australia (FINSIA) to put on a great lunch in Collins Street to discuss “Finding Parity for Women’s Super.”
A great panel of women leaders representing the Industries of consumer and wealth management sectors discussed:
- Why the Value of women’s super is so much lower than men’s
- Why some women don’t have super and don’t focus on it
- What various sectors of the industry are doing about it; and
- What is and isn’t working
Some of the history of discriminatory superannuation measures against women were highlighted, including the Married Women’s Fund, available for the Public Sector; along with limited or no access to superannuation benefits for working women and the exclusion of super being mandatory for those earning under $450 per month from certain employers.
Need to find a solution to the big problem
As 75-80% of Australians currently access the Age Pension (of approx. $20k p/a) self-funding for retirement is becoming of increasing importance to all.
Not surprisingly, it was highlighted that women often have multiple or many employers, especially for casual work, and an erratic working life, due to pregnancy, child birth and motherhood.
Women also have a longer life expectancy than men, and need to fund for retirement longer. On average, the girls currently have around 17% less than men in their Super funds, but require around 13% more.
Women are perhaps more disengaged with their funds feeling superannuation saving is for the future, not really important, that their family situation will take care of things. Or that most Advisers are men, and they aren’t really sure about trusting them with their small and unimportant nest eggs.
Anne-Marie Corboy, CEO of HESTA, a large industry fund highlighted that the average balance across their 750,000 members is $29 886 for men, and a bit over $26k for women. Hardly enough to set up for a comfortable retirement, for anyone!
So, what can be done?
Some of the suggestions included constantly consolidating superannuation accounts whenever changing employer, not to ‘lose’ any super funds, make the most of incentives such as the Co-Contribution and Spouse Superannuation schemes and taking a lot more interest and control over your own financial journey.
As one of the Advisers put it, ‘A Man Is Not a Financial Plan!’ So girls, time to engage more with what is yours and ensure every penny is accounted for. And if you need advice, I’d love to give it!
Visit Website
by Jodie | Nov 12, 2012 | Finances, Insurance & Protection, Men
I am currently in the midst of arranging a Terminal Illness claim for one client ill with prostate cancer who, fortunately for his wife, has three covers to claim on. Not that this is any consolation right now to either of them – although they are looking forward to some quality time together without financial constraint or being required to work through intensive chemo in the months ahead.
The second client, a Welder with a wife, young family and mortgage discovered his Prostate cancer early and was able to return to work within 6 weeks of surgery, and claim on his income protection. The Trauma Rider on his policy paid out 6 months benefit and allowed the family, financially to be able to cope much better than having so long without an income.
The month of Movember therefore has special significance for me – despite being unable to participate personally! I am looking forward to seeing a lot of unshaven men with porn-star mo’s, Handlebars, Mutton Chops, Clark Gables, French, Chopper Reads or other styles around for the rest of the month! Well done to all the guys participating! If you’d like to donate to this great cause, head to the Website here: http://au.movember.com/
Although I’m the one who always loves to be there with the cheque when things go wrong, the following stats were still eye-opening!
DID YOU KNOW?
- Each year in Australia, close to 3,300 men die of prostate cancer, which exceeds the number of women who die from breast cancer annually. Around 20,000 new cases are diagnosed in Australia every year.
- Each day about 32 men learn news that they have prostate cancer – tragically one man every three hours will lose his battle against this insidious disease
- One in 9 men inAustraliawill develop prostate cancer in their lifetime
- Prostate cancer is the most common cancer in Australian men and is the second most common cause of cancer deaths in men
- Each year more Australian men die from prostate cancer than women die from breast cancer but… a national survey by PCFA in 2002 showed that while 78% of women felt well informed about breast cancer – only 52% of men felt informed about prostate cancer
- The chance of developing prostate cancer increases: as men get older and if there is a family history of prostate cancer eg a man with a father or brother diagnosed with prostate cancer
- Early, curable prostate cancer may not have symptoms. While younger men are less likely to be diagnosed with it, they are more likely to die prematurely from it
- Simple testing by a GP can indicate prostate cancer
- Early detection can be achieved with PSA (Prostate Specific Antigen) blood test or DRE (Digital Rectal Examination) testing. Our research in 2002 shows that only 10% of men surveyed between the ages of 50 and 70 had taken these tests in the previous year.
- Some groups are at greater risk of prostate cancer … for example, for every 100 men who dies of prostate cancer in a metropolitan area ofAustralia (such as Melbourne or Sydney) 121 men will die in ruralAustralia. Various factors may include lack of awareness and education about prostate cancer, distance from testing and treatment, poor GP awareness and limited access to specialists (such as urologists)
- The Vietnam Veterans Association of Australia states that veterans have a 53% higher mortality rate from prostate cancer than the average population
- A recently published international study showed that firefighters have a 28% higher risk of prostate cancer
For further information about insuring with market leading providers in prostate cancer, please contact me on 07 5593 6895 to discuss your options.
Source: Prostate Cancer Foundation of Australia: PSA testing in Prostate Cancer
by Jodie | Nov 7, 2012 | In The Media, Insurance & Protection
This is the real-life story of Dani, as told by her financial adviser Amanada Cassar of Wealth Planning Partners
Dani is the daughter of a client I’ve had for some time. Her mum Jessie approached me to assist with some Salary Packaging strategies as she’s a nurse, and we soon became friends. Jessie is a happy, friendly, hospitable woman and extremely proud of her two beautiful daughters. She also happens to share her name with my great-grandmother – so we now consider each other as family.
On finding out her youngest had been diagnosed with leukaemia at age 22, she was distraught, but went straight into protection, carer and nurture mode – it seems to come especially easy to her as both a mother and a nurse!
Jessie also requested that I go through some of Dani’s paperwork to see if there was anything financially she had that could help out. Included in that bundle was a statement of superannuation benefits for an industry fund which included lump sum cover for Death and Total & Permanent Disability (TPD). Dani’s prognosis was grim for the immediate future and likely the coming 3-5 years or beyond, meaning a possible total disablement claim. In any case, it wouldn’t hurt to try.
I assisted Dani when she was feeling up to it, to complete the paperwork, liaise with her doctors, the hospital and submit the paperwork, all within a couple of weeks of the insurance lapsing due to the fact that she’d now left work and no further employer funds were being paid.
And that’s possibly when the true battle began. Dani’s health was up and down; eventually reducing to 32 kgs; falling and breaking her tailbone; being accidentally overdosed by the hospital along with the usual treatments for her condition. Tests eventually confirmed Dani had beaten the leukaemia but had a serious complication following the marrow transplant known as GVHD (Graft vs. Host Disease) where the immune cells in the graft recognise the recipient as a foreign host and attack the hosts’ body cells.
The doctors also were slow to respond to the paperwork requirements and unwilling to complete the relevant pages requested by the insurance company to confirm TPD and finally and sadly, we had to switch to a Terminal Illness claim when Dani was told she had less than 12 months to live. Hundreds of pages of reports followed and after much frustration and work over fourteen months, the Case Manager finally rang to advise me we had a payout on the way!
Dani has put on a couple of kilograms, is still in hospital but remains incredibly positive and was delighted to turn 24 a few months ago. I’ve been asked to assist her to find a new home, close to hospital and where she can concentrate on recuperating as best she can and devote more time the creative arts she loves.
This story reinforces strongly for me the immense value of insurance, the importance of advice and the significance of the precious relationships we forge along the way
Being financially independent now provides Dani with options – she can concentrate on her health and wellbeing, provide medically for her needs and allows her some financial freedom.
Visit Website
![New Year’s Resolutions already forgotten?]()
by Jodie | Oct 26, 2012 | Advisers, Business, Finances, General, Investments, Superannuation, Women
Well, I do love to travel and really enjoyed heading to fabulous Melbourne for the Women in Finance Vic (WIF) Lunch recently. I don’t need much arm twisting to get me to Victoria and was glad to combine some appointments with clients and colleagues with a great lunch.
WIF had combined forces with the Australian Centre for Financial Studies and the Financial Services Institute of Australia (FINSIA) to put on a great lunch in Collins Street to discuss “Finding Parity for Women’s Super.”
A great panel of women leaders representing the Industries of consumer and wealth management sectors discussed:
- Why the Value of women’s super is so much lower than men’s
- Why some women don’t have super and don’t focus on it
- What various sectors of the industry are doing about it; and
- What is and isn’t working
Some of the history of discriminatory superannuation measures against women were highlighted, including the Married Women’s Fund, available for the Public Sector; along with limited or no access to superannuation benefits for working women and the exclusion of super being mandatory for those earning under $450 per month from certain employers.
As 75-80% of Australians currently access the Age Pension (of approx. $20k p/a) self-funding for retirement is becoming of increasing importance to all.
Not surprisingly, it was highlighted that women often have multiple or many employers, especially for casual work, and an erratic working life, due to pregnancy, child birth and motherhood. Women also have a longer life expectancy than men, and need to fund for retirement longer. On average, the girls currently have around 17% less than men in their Super funds, but require around 13% more.
Women are perhaps more disengaged with their funds feeling superannuation saving is for the future, not really important, that their family situation will take care of things or that most Advisers are men, and they aren’t really sure about trusting them with their small and unimportant nest eggs.
Anne-Marie Corboy, CEO of HESTA, a large industry fund highlighted that the average balance across their 750,000 members is $29 886 for men, and a bit over $26k for women. Hardly enough to set up for a comfortable retirement, for anyone!
So, what can be done?
Some of the suggestions included constantly consolidating superannuation accounts whenever changing employer, not to ‘lose’ any super funds, make the most of incentives such as the Co-Contribution and Spouse Superannuation schemes and taking a lot more interest and control over your own financial journey.
As one of the Advisers put it, ‘A Man Is Not a Financial Plan!’ So girls, time to engage more with what is yours and ensure every penny is accounted for. And if you need help, I’d love to give it! Please call on the mobile 0410 455 158 if you’d like a hand on how to get started.
