Amid the raft of measures announced by the Commonwealth Government last month, one of the more contentious was the decision to allow limited access to superannuation benefits to people who are ‘under-age.’ This change took effect from Monday of this week. Whether withdrawing makes sense in your case depends very much on your unique situation.
This week we thought we would change tack a little. As we all continue in a version of lock down and with Easter now behind us, most schools have reverted to home learning. So, we thought we would provide a little lesson in basic financial management ourselves. If you or someone you know is home-schooling someone, you might like to use this as a lesson. If not, you can always enjoy the lesson for yourself.
Over the past month, the Commonwealth Government has announced and commenced implementing economic stimulus measures that involve the Commonwealth spending (or rebating) more than $200 billion. A fair question to ask is: where do they get the money for that? The answer is a happy one that should be reassuring.
Last week, we discussed the stimulus package that had been announced but not yet passed through Parliament. As we forecast, the Commonwealth Government then announced a second round of stimulus measures. Both packages were passed by Federal Parliament earlier this week.
At some stage, most of us will be asked to lend money to family or friends. Usually, we are only too happy to help. After all, what are family and friends for if not to help each other out. That said, mixing money and relationships can be problematic. In this article, we discuss various ways to minimise the risk of the loan going wrong and a relationship suffering.