What’s a common financial rule of thumb you know? Who told you about it?
Most people find out through word-of-mouth – through a piece of advice explained by a parent or friend when approached for guidance towards buying, saving or investing. Financial rules of thumb are intended to provide guidance, and are a good starting point to begin to set your financial goals, but how reliable and effective are they?
Read MoreEvery renovator asks themselves the question: Should I stay in my home while I renovate or find another place to go until it’s completed? Some renovators decide to stay in their home while it undergoes construction. Some decide to rent, stay at a hotel or go on vacation during the process. However, the answer usually depends on the scope of the project, its timeline and whether your family can endure the interrupted routine.
But how do you know what option is right for you?
Read MoreIn 2016, Australia’s biggest mortgage providers QBE LMI and Genworth Financial released a report on LMI that found 70% of borrowers mistakenly believe that LMI is designed to protect the borrower in case of a loan default. In reality, it’s quite the opposite. While there are separate products designed to protect the borrower, the purpose of Lender’s Mortgage Insurance is to protect the lender.
Read MoreDid you know that you can use your mortgage when crafting your retirement plan? While it is not the most well-known option, it is something you can consider when thinking about planning for the future.
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