Educating your children is a major expense — the sooner you start saving for it the better.
Parents often go faint when they see the cost of school and university fees — just how much depends on the schools and universities they choose. Australian parents spend, on average, $50,000 on education and childcare for each child.
The Australian sharemarket bounced back in July, with the All Ordinaries Index increasing 4.2% to close at 4,507.4 points. Improved confidence and a positive US reporting season drove all markets higher.
The Dow Jones Index closed up 3.2%, the FTSE gained 6.9%, the Nikkei 225 gained 1.6% and the Hang Seng increased 4.5% for the month.
The first monthly fall in house prices in 17 months in June has signalled aggressive interest rate increases over the last year have successfully cooled off what had emerged as a source of instability in the economy.
The RP Data-Rismark Hedonic Home Value Index fell a seasonally-adjusted 0.7% in June versus May, but rose a seasonally-adjusted 0.1% in the second quarter from the first quarter. From a year earlier, capital city house prices were a seasonally-adjusted 10.5% higher, according to the report.
One of the most common questions asked of a financial adviser is what is best; property or shares?
The truth is that there are benefits and disadvantages to investing in both property and shares. As always, it is important not to over commit yourself, have a level of diversification and ensure that an investment fits within your overall wealth creation strategy.
Commencing a family is a major lifestyle milestone. As such, it is important to ensure that you can enjoy this time with your new family and not worry about your finances. This article explains 5 financial tips to help you prepare for a new baby.
1. Practise Living on a Single Income
The recent passing of legislation for Paid Parental Leave is seen by many as a win for those thinking of starting a family. However, it is important to consider whether you are better off taking the Baby Bonus rather than the new Paid Parental Leave.
By taking paid parental leave, eligible Australians will forfeit the baby bonus, family tax benefit Part B and the dependent spouse offset. Industry modelling puts the average additional benefit at only $1000 to $2000 – and shows in some cases it could be to your detriment.
Having a baby can be expensive. This article highlights the various government family benefit payments available to ensure you receive all the payments and financial assistance you are entitled to.
1. Paid Parental Leave
Paid Parental Leave comes into effect 1 January 2011 and will pay either the employed mother or the father the equivalent of the minimum wage (about $570 a week) for 18 weeks as long as their income does not exceed $150,000 a year.
US stocks climbed broadly on Thursday following strong earnings from Caterpillar, 3M and United Parcel Service, while better-than-expected data on US existing-home sales and euro-zone economic activity also provided a boost.
The Dow Jones Industrial Average rose 201.77 points (1.99%) to 10,322.30, marking its biggest one-day gain since July 7 and its highest close since July 15. Boeing led the measure's gains with a jump of $3.42 (5.4%) to $66.60, after European rival aircraft manufacturer Airbus raised its order intake target for 2010.
US stocks tumbled on Wednesday despite strong earnings reports from Morgan Stanley, Wells Fargo and Apple, as investors were disappointed with Federal Reserve Chairman Ben Bernanke's signal that the central bank is not planning further stimulus in the near term.
The Dow Jones Industrial Average declined 109.43 points (1.07%) to 10,120.53, its first drop in three sessions. While the drop was broad, the Dow's financial components got hit the hardest. JP Morgan Chase fell $1.21 (3.1%) to $38.42 and Bank of America declined 41 cents (3%) to $13.36.
Quarterly reports from International Business Machines, Texas Instruments and Goldman Sachs sent stocks tumbling early on concerns over slowing revenues, but a late rally erased the losses as investors looked expectantly to Federal Reserve guidance and upcoming earnings.