Car Loans Australia :: Articles

Car Loans Australia Articles

18 fundamental money rules to live by

1. Your housing debt (mortgage repayments) should not exceed 28 percent of your gross income. Your total debt repayments should be under 36 percent.

2. Invest for your future. Use your super and max out your benefit limits if possible. If you can get increased employer contributions or tax benefits by making additional contributions, make sure that you are taking advantage of them!

3. Have a diversified investment portfolio. An old rule of thumb is to deduct your age from the number 100 ... and the result is the percentage you should have in growth-types of investments.

4. You don't want more than 5-10 percent of your portfolio in any one stock.

5. If you don't understand an investment, don't buy it. Know what you are getting into and how you are investing.

6. If you are not saving 10 percent of your income, you are not saving enough. If you are looking towards retirement, women need to save at least 12 percent and men need to save 10 percent towards retirement.

7. Have liquid money. You want to have 6-12 months of money readily accessible in a money market account as your emergency fund.

8. Buy insurance with the highest excesses so that you are paying less in premiums. But, make sure you have sufficient liquid money to afford the deductible if something happens.

9. Generally it is better to buy a car than to lease. But, don't buy a brand new car. Millionaires usually own and drive used cars.

10. Have you ever been pushed to buy an extended warranty on a product you purchased? Generally, not the best idea-usually a waste of money.

11. Keep good records. Keep your cost basis information, your taxes, know where your money is and where your accounts are.

12. Eliminate bad debt. If you have credit card debt you are generally living beyond your means. There is good debt and bad debt. Get rid of bad debt.

13. Know what you are spending. Have a budget and stick with it.

14. Put your possessions into good condition before you retire or go through a life change.

15. Stay in good health. Health insurance is the number one reason people do not retire.

16. Make sure your income exceeds what you have as expenses every month. And you should insure your income because almost everything else is dependent on it.

17. Don't let investments automatically roll over. Make sure you are making the most on your money and have a plan. It's not just always the best rate in the short term (or long term).

18. Don't have a number of different superannuation accounts. Consolidate. If you have old personal or employer super plans, roll over into a personal super plan in your own name.

Finance Articles

Co-Signing Loans - Risky Business
There may come a time in your life when you are asked to co-sign for a loan or credit card. If this is the case, there are several things to consider before making a final decision. Technically,... read more

3 Simple, Effective Tips For DIY Debt Settlement
Here we share 3 simple tips to eliminate your debt problems... so you can move on with life without the constant financial stress of dealing with creditors and collection agencies. To get out... read more

Home Loan Strategies
Twenty five years, twenty five years, twenty five years to go ... seems like an eternity away, but it need not take that amount of time to pay off the traditional Aussie home loan. read more

Finance News

Personal Loans to help Australians in need: FSO
Oct 29 :: As Australia prepares to clean up following devastating fires and floods, Financial Services Online CEO, Andrew Clark, has announced a package of personal finance solutions designed to help affected... read more

Small business loans to help Aussie businesses through tough times
Nov 27 :: Financial Services Online has today announced a new credit facility for Australian business customers who are seeking loans for amounts of up to $10,000 with minimum security requirements, irrespective... read more

Police issue warning about bank scam
Nov 20 :: Melbourne police are warning people about a scam in which fraudsters pose as bankers and ask for money.They say they cold call customers and tell them they have been overcharged in fees... read more

Need Help Finding a Loan?
Get a free car loan eligibility assessment and compare offers tailored specifically to your circumstances.
Loan Amount:
All finance quotes are provided free (via our secure server) and without obligation.
We respect your privacy.

Personal Loan:
A personal loan is usually made by a financial institution to an individual person without the need for the provision of asset security. Personal loans can generally be obtained for any worthwhile purpose subject to the lending criteria of the financ