Top budgeting tips
When you first look at buying a property, there are lots of things you need to start organising. First and foremost is your budget.
Top budgeting and savings apps
Managing personal expenses is something many people struggle with. Yet, there are a host of digital solutions in the marketplace to pull people out of the ‘pay cheque to pay cheque’ whirlpool. Are you a spendaholic? We’ve pulled together some of the best apps for a financial intervention.
Budgeting Rules: 50/20/30 and 60/20/20
In this article we talk about budgeting and two different ways of budgeting: the 50/20/30 Budget and 60/20/20 Budget. We look at what they are and what your income looks like when split this. Finally, we discuss how budgeting helps you achieve your financial goals sooner.
Zero sum budgeting
In our previous post we outlined the 50/20/30 budget and the 60/20/20 budget, in this post we look at two slightly more hands on ways of budgeting: zero-sum budgeting and the envelope system.
Save with rewards and incentives
My wallet is always bursting at the seams….but not with too much cash. Nope, it’s jam packed full of loyalty cards to earn rewards points, for everything from hotel chains to juice bars! Points and rewards schemes don’t need to be confined to airline programs such as Qantas Frequent Flyer and Virgin Velocity – it’s quite amazing what you can accumulate just for swiping your card doing what you do in the course of your week.
Saving for your first home
This selection of information relates to saving for your first home and ways you can get into the property market sooner.
Save money for your deposit faster
It can be really hard to save money, even if it is for something as amazing as your first home. It’s hard to deprive yourself of the things you like doing, cutting back on nights out with friends and just generally living the frugal life. Here are our top five tips to save your deposit faster.
What is rentvesting?
Rentvesting is a strategy some first home buyers are utilising to get into the property market. Property prices around Australia keep increasing, which is great if you own property, but not so great when you’re trying to get into the market. Some savvy first home buyers are utilising a different strategy to buy their first homes without having to sacrifice their lifestyles.
The art of mindful spending
Making changes in your life, like reducing your expenses and reigning in your spending or mindful spending, can be very difficult. Even more so if you haven’t stopped to think about your motivation for buying things in the first place or if you don’t feel there’s any reason to change your behaviour.
Buy now, pay later and your loan
Afterpay it. Buy now, Pay later. Shop Now, Pay Later. Interest Free. Unlike traditional layby where you complete all of your instalment payments prior to collecting the item, providers such as Afterpay let you walk out of the shop with the item in your hot little hands – often up to the value of $1,000. You’re then required to pay your instalments over the coming weeks instead.
Ways to boost your borrowing power
When it comes to working out how much you can borrow, there are actually a lot of factors at play. If you have spoken to a broker or looked at an online calculator to see what you can borrow and have found it’s less than you thought, there are some things you can do.
First Home Buyer Concessions and Incentives
Being a First Home Buyer is a big deal. It’s not only a huge financial commitment but can be made seriously confusing by all of the jargon and different incentives that are involved. In this article, we break down what’s available to you as Victorian First Home Buyer in terms of concessions, incentives and grants.
Ready to invest?
See how Andrew was able to buy his first investment property using his top tips and strategies:
- Using goal setting
- Obtaining expert advice
- Reducing outgoings and boosting savings
- You can have it all, just not at the same time
- Following a strict budget
- Educating yourself
Debt reduction strategies
Once you’ve purchased a property, there are lots of different ways you can manage this moving forward. Particularly if you have other debt you need to balance too.
What is good debt and what is bad debt?
Not all debt is created equal, although it can sometimes be difficult to interpret what is meant by the terms good debt and bad debt. Surely $1 owed is $1 owed right? Well not quite.
How do I consolidate my debts?
It’s a thought that wakes Australians in the middle of the night. Staring at the ceiling, they worry: “How can I reduce my debt?” In the first quarter of every year, Entourage Finance’s team routinely develops strategies for clients who want to get their debts under control.
What is debt to income ratio (DTI)?
In this article we look at what debt to income ratio (DTI) is. We also look at different factors the lenders look at when assessing your home loan application.
Avoiding your own Personal Financial Crisis (part 1)
Welcome to the future. Banks are becoming smarter, sharing more information and asking more questions about how you spend your money. Borrowing money has become an art form and banks are only happy to lend to people named Pablo. It can now take months (even years) of practice and dedication to paint the perfect picture and prepare for your home loan.
Avoiding your own Personal Financial Crisis (part 2)
In the last article, I started to paint the picture on how best to prepare for a home loan as we looked into living expenses and savings. This week, the fun continues as I’ll explain some of the other pitfalls that can lead to a PFC, and of course, how to avoid them.