Hey legends, just reaching out as I’d like some opinions on what would be advantageous for me to do now to set myself up for my life in the future.

24yo 2nd year apprentice sparky with roughly $36k in the bank and $23k in super. I am salary sacrificing $100/week into super at the moment as of recently.

I’d like to buy a house, currently living on the Goldie QLD.
When I’m qualified I will easily be on 100k plus gross per year possibly substantially more…

Is it worth throwing a chunk of $20k into my super? I’m a good saver, only spend money on essentials but when I do purchase something I buy once and cry once (hello MacBook Air)

I have opted into the trade support loan and 100% is going into my savings.
Bank interest is 4.9% I believe.
No loans whatsoever and a cheap 4 cylinder car.

Income per week is: atleast $1100 after tax/week
Bills are about: $700/week

Essentially I’ve had a look and superannuation return is about 10% (I’m with CBUS) that’s obviously a significant more than bank interest…

Do I throw like $25k into my super and tax deduct it and leave it until I’m going for a house deposit?

What’s my play here?

Last night I caught up with a close friend who, for some time now, has seemed to be distancing himself from me. I felt something is wrong so planned a shisha night.

Long story short, he used to do contracting for a tech niche and his contract was cut short from 3 years to 8 months, company went bankrupt. He had a family wedding planned, short trip so did that all and took him 7 months to secure a job. While those unemployed months, he had to tap in his untouched personal loan and 50K is almost drained. On top he, had a 0% rate balance transfer offer for 15k, which was 36 months, but the banker only setup to 12 months and it's on him now.

On total he's paying around 20-23% interest on both items all of sudden, He have 20k saved from past few months from new job, which is good paying but not putting into loans, as he's bit traumatised and want to keep some emergency funds.

What would you do differently? I advised him to pay off the credit card, talk to a different bank about debt consolidation and try to get a lower rate on the personal loan and have one that have redraw facility available. I have seen people get 20 to 12-13%.

Any ideas or suggestions?

I'm 21 living is Australia, and I feel bloody stuck. Three days a week I work as a casual admin and broker support person at a business brokerage, and the role is set up to eventually move me into becoming a broker there. I study full time, majoring in finance with an HR component. Alongside that I run a small business converting old analogue tape to digital, which has grown steadily over the last year. I also pick up casual bar shifts at a resort on a rotating roster.

A SaaS startup recently reached out about a customer success and implementation role. One of the founders is a close friend of mine, and he put my name forward with the other founders. The role was originally meant to be full time. They've since agreed to consider three days a week for me. Pay is around $40 an hour, with bonuses tied to targets and the likelihood of performance shares later on. The company is growing fast, and my friend thinks getting in now, before things really take off, would pay off long term.

My hesitation is mostly about the brokerage. The general manager and director have put a lot of time into developing me there. I'm learning a lot, and there's a real path toward becoming a broker in the business myself, eventually moving to a subcontractor arrangement instead of a wage. I feel like I owe them something after what they've invested in me. I also genuinely enjoy the work itself.

Taking the SaaS role properly would mean reworking my schedule quite a bit. Days at the brokerage would probably drop from three to two, and I'd let the resort shifts go entirely. Slowing down the tape business for a while would likely be part of it too, at least until I settled into anything new. On top of full time study, I'm worried about how much time would actually be left for my girlfriend, my family, my friends, and any chance to travel.

I need to give an answer by the end of this week. If I commit to three days at the SaaS company, I go into a final interview against one other candidate who sounds like a solid fit for the role too.

Keen to hear from anyone who's been through something similar. Any thoughts or questions are welcome. Thankyou

I’m about to speak to a mortgage broker but I’ve heard very different opinions on what I should do thus far.

I’m 23, single and earning 76k a year gross in marketing. I have 100k + (10k extra aside for emergencies) saved for a deposit. Ideally I’d like to save another 40k or so but if something perfect came up I’d seriously consider it. I’m looking at 450-500k properties about 1-1.5 hours out of the city because I like the more relaxed lifestyle. I only have to go into the cbd one day a week for my job.

I live at home so I spend about 1500-1800 a month on transport, food, some groceries, petrol, a few nights out, etc. I have fully paid off my car and have no outstanding debts including HECS.

My parents have kindly offered to gift me 100k to pay off the house in a lump sum, but only after I have put down the deposit. So is this something I should factor into the budget? Or should I ignore it completely?

I’m in a pretty fortunate position where I currently work 3 days a week and have the flexibility to add/reduce days if I want to.

I’ve just run the numbers on going back to 4 days, and after tax, extra daycare and HECS, I’d only be about $50 a week / $2,500 a year better off.
Honestly, that doesn’t really feel worth giving up another day at home with the kids.

My husband has asked me to come up with a number where I’d actually feel like the 4th day was worth it financially, rather than staying home with the kids.

So I’m curious, what would that number be for everyone else?

How much extra per week would make you think it was worth working the extra day?

Hey everyone

My trusted companion 2002 Hyundai Elantra finally died after a decade in service 😭 it's too expensive to fix. I knew the day would come but I was hoping to have more time to save up to buy an EV in cash, but I'm not there yet.

My options are:

- get a new EV on a novated lease through my work

- buy a second-hand car cash for about $10k (all I can afford right now without completely draining my emergency fund)

- get a car loan for a new EV or more expensive second-hand car

My house has an EV charger installed in the garage.

My situation:

$533k left on my home loan (I only bought late last year) 6.28% interest

$18k cash in offset

No investments (other than about $4k in company shares which I'd rather not cash out)

$154,500 salary including super and before tax (only been in the job 8 months)

- single, no dependents (except for my cat), living alone

-$145k in super, salary sacrifice $100 a fortnight

My goal was to hopefully keep driving my shitbox until the end of next year when I'll have about $50k cash in offset at my current savings rate so I could just buy a Geely or BYD in cash, but that's not really an option now.

I really can't get my head around Novated leases but my understanding is I pay fortnightly out of my pre-tax income and then at the end of the lease pay an amount to then own the car outright.

My understanding is the best option would be to get a novated lease as it'll reduce my tax in the long run, but I'm struggling to figure out if this is the better option when compared to leaving my cash in offset and getting a loan, or just taking $10k cash and buying a reliable second hand car in cash which I should be able to for about $10k.

Any help would be appreciated!

More rate rises coming as people keep spending

Family of 3, PPOR paid off, 2 modest cars, Wife is a a SAHM, 11k After tax monthly.

Wants is anything like coffee, takeaway toys for kid etc. Remaining money is split between long term savings/shares and larger purchases that we want holidays, hobbies etc. Living in Perth WA.

Any thoughts or opinions of things to improve?

As a family of four we seem to be able to save $500 per week. It seems like we are going backwards as this is small for us. We are very frugal but have a big mortgage. We have no other credit. We are simple people but have a nice apartment to pay for (Forever).

Mid to late 40s with 2 young kids.

How does this weekly savings amount compare to you?

Not looking for the usual “stop buying coffee” advice.

I’m more interested in the small habit or system that actually changed your spending.

One thing I’ve found really useful is looking at spending patterns, rather than just individual expenses.

For example, you might not have one big expense causing the problem. It could be a few small purchases that keep repeating every week, subscriptions you barely use, or spending that gradually increases after payday.

Sometimes the biggest saving opportunity is simply finding where the money is quietly going.

What’s the one habit or change that made the biggest difference for you?

Hi,
I contacted a cabinet maker to build a built-in cabinet. He was responsive and came to my place and gave me the quote based on the sizes and the style. I paid a deposit of $3000. He gave me two designs that were slightly different from what I wanted and forced me to just choose one. I unwillingly chose one of his designs. After that, he suddenly stopped responding to me. I had to call and chase up the measurements, date to install, ect and he gave me only vague answers. Therefore, I contacted my bank about the deposit transaction as I lost the confidence in this to be done as he promised. At this point, I expected two different scenarios:
- The bank reverse my payment and I get my deposit back. But if he still can do the job based on what we had both agreed, I’m happy to pay him again.
Otherwise, I'm safe to just get my money back.

When his bank received the info from my bank, they froze his account. He messaged me calling me crazy and started gaslighting me. I messaged him stating exactly my concerns and tried to compromise that if he can still do the job properly, I will contact my bank to cancel the dispute. However, he left me on read. At this point, it seems like he won’t do the job and/or he has never planned to do it.

My question is what is the possibility of me getting my deposit back? What else can I do in this situation?
Thanks.

I have no idea what I’m doing. I have 70k that I’ve been sitting on with the intent of using as a house deposit. I live in Tasmania. The cost of a house keeps climbing faster than wages and the cost of living here is quite bad. I have 2 kids of my own and a partner with two kids. Not married. Renting here is ridiculous.
What should I do? Invest and wait it out? Invest in what? Buy a unit and rent it out? Buy property in another state?
Any thoughts appreciated.

We are currently in the cooling-off period purchasing a property in NSW using the First Home Guarantee (5% deposit scheme) through CBA. COS were exchanged using counterpart copies (one executed by us as buyers, and a separate matching executed by the vendor). I raised this with my solicitor soon after receiving signed COS from Docusign and was advised it is still legal.

Our mortgage broker just informed us that CBA requires a single, fully executed master COS document (with both buyer and vendor signatures on one unified copy) to issue our Scheme Guarantee Certificate and grant final unconditional loan approval.

When our conveyancer reached out to the vendor’s solicitor to facilitate a single COS execution, the vendor's solicitor responded stating that because COS have already formally exchanged, the COS is legally active under NSW law and cannot be altered or re-signed. Their solicitor stated the only formal way to issue a single COS would be to rescind the active one and re-exchange a brand-new single COS on the exact same terms.

We are currently inside our cooling-off period, which is set to expire on 8 Sep. We need to resolve this lender requirement quickly so CBA can finalize our 5% scheme place before the cooling-off window ends.

What Options Do We Have? Has anyone encountered this specific CBA requirement for the First Home Guarantee Scheme post-exchange?

Is it safe to agree to the vendor's solicitor's proposal to rescind and re-exchange a single COS simultaneously with the exact same terms and say same settlement date?

Is there any hidden risks with this approach while we are still inside the cooling-off period?

Any insights from conveyancers, mortgage brokers, or buyers who have navigated this with CBA would be greatly appreciated!

So, I'd like a general consensus atm. Past all the doomerism, past all the negativity, I'd like a pool of opinions on how to put myself ahead both now and the future.

Without oversharing, I've been working for Allianz Aus in conjunction with the DSP for about 5 years, primarily data entry work (Part time cos of the stupid cap, ASD diagnoses). Graduated Y12 (Albeit barely), got a cert 2 in business, and with everything going on atm, I'm kinda stuck. Have about $600 in savings; which can and does fluctuate pretty frequently, I live on my own paying about $600 a week in rent, 1 bed apartment, and I have no familial support. That's a long story with a lot of potential to overshare, which I'd rather not.

Who can I talk to to get ahead? What can I do with what I have, how can I move forwards? Been ultra-depressed, and I need to take my head out of my proverbial rear.

With the new changes coming to most Australian based credit cards and a significant portion of benefits being taken away is AMEX just blatantly the best option now for a rewards card? Not only have they not really taken much away they’ve increased the points offering from 50k to 120k sign up bonus.

For me I’d recently gotten a westpac altitude black Qantas for the 150k signup and planned to switch to AMEX anyway at the second year but these changes have likely just sped up my switch.

Hi all,

Long story short, my seven year old had to pay a chunk of tax last year on his child savings account as he earned more than the $416 tax-free ceiling in interest.

I filed the paper form (you can’t do it digitally for minors), got the notice and paid the money - all pretty simple.

In this FY, we invested it for him elsewhere so he doesn’t get slugged again (bit of a bitter pill to swallow as that was his inheritance money from a relative).

He is therefore nowhere near the taxable threshold.

My question is - do I need to do a tax return on his behalf this year again (and every year until he’s old enough to lodge it himself) regardless of the fact that he didn’t - and won’t for some years - accrue enough interest be taxed?

I have been told that the first tax return acts as an automatic trigger for consecutive tax return requirements regardless of age - but want to fact check that as he doesn’t have any reportable earnings. And won’t for a good few years now.

Thanks in advance

24m. 90k salary. 50k HISA. 30k super(no fhss). 20k ETFs. 30k HECS. canberra

• stay at home (~ +70k to savings)
• rent (~ +40k)
• buy apartment for around 400k

would like to avoid strata as much as possible, also want to move out as well. just looking for opinions

Hey guys, just wondering roughly how much it would cost to extend the second floor by around 50sqm.

My roof is flat, and basically just extending the existing second floor. To match the first floor layout. Since the second floor wasn’t built all the way to the back.

Anyone who’s done something similar in nsw or has an idea, what should I be looking at to pay? Thanks!

Hi all,

Seeking some advice please 😊

I currently have an AMEX I’ve had for a year with a $4,800.00 limit.

I also recently (2mths ago) applied for a Bendigo Ready credit card with the same limit and was approved.

The purpose of this was due to the surcharge ban coming into play in AUS, I wanted a VISA/MC.

However, the Bendigo app is extremely clunky and it really causes me to dislike the card.

Ideally, I’d like to apply for a Qantas everyday card with the same limit, and then close the Bendigo card.

Keep in mind the Bendigo card was opened 2 months ago

Can anyone please advise if this is a good/bad idea, and if it matters if I close the Bendigo before or after I apply for the Qantas card.

Also, is jt unlikely I will not be approved too?

I always pay all my balances in full and never leave an outstanding balance etc

Thank you!

Yes, I’ll talk to a broker, but I’m curious if anyone has been through a similar situation that could provide insights.

I’m 32, living remotely and saving a decent amount. I earn $120k a year (pre-tax), about $75k saved, over 100k in my super, some investment funds, but have about 20k of car debt and HECS debt.

I want to buy land and build in remote NSW. Where I’m looking land costs $200-$300k and the build would be around $100k.

With all the new home buyer incentives and such - would I realistically be able to do this? Im a single female so purely relying on my self to fund this.

Any advice would be appreciated!

I know I am in a very fortunate position, and I am genuinely not trying to humblebrag.

I am 40M, single, with no children or other dependents. I’ve become increasingly burnt out and feel like I’ve lost direction and life purpose outside work. I have no close friends, not close with my family, no partner, and lately I’ve developed a strong feeling that if I don’t take time out to travel now, I may never do it.

I applied for a one-year sabbatical after 4.5 years with my employer, but it was rejected. This means my only realistic option for extended travel is to resign.

I own my home outright, worth around $1.6m, have $2.5m in shares (giving about $91k per annum after tax), $320k in super, and $150k in cash. My plan was to set aside $100k for a year of travel and use the other $50k for concessional super contributions over the 1 to 1.5 years I'll be away.

I am a Chartered Accountant with 14 years in analyst and senior analyst roles, but my current role is basically a senior business analyst with no unique expertise, and it feels very replaceable and vulnerable to AI. I also don’t have much of a professional network to fall back on.

I am worried that if I quit, I may struggle to get a similar job again and this could effectively become early retirement rather than a 1 year break. My current roles pays about $150k per annum. I could probably find lower-paid work if needed, but I don’t want to assume I can walk back into my current career. What is the reasonable thing to do?

Our per kL price seems to be going up all the time, or so it seems. What is your per kL price for water from Sydney Water?

$3.17 / $3.41

Hey guys I’m currently in education and on family support. I have always been personally reluctant to work minimum wage. Because I don’t really think it’s worth the time or effort. I do believe it’s possible for me to land a professional job after graduation. But as we know it takes much more devotion to get there now. So this is a genuine question.

I have recently discovered someone online who saved enough of a down payment for a house, by working minimum wage jobs. So I’m starting to question and rethink if this makes sense. Honestly the minimum wage in Australia is not low. I’m just curious if it makes sense to “buy less coffee“ and work in non-ideal conditions. Will it save me enough money to be financially independent?

I called Afterpay and they wouldn't tell me over the phone. I was told I'd have to sign up to Afterpay and make the actual application before I find out. I'm not happy with this.

A cardiologist recommended a smartwatch to monitor my ECG/EKG as well as my heartbeat. I currently have an iPhone XR and apparently that doesn't work with the latest Apple Watches. My other option is to buy an older refurbished Apple Watch instead.

I do know about the Apple event coming up soon, so I'll wait until after that before I decide anyway. Of course, I could look at cheaper smartwatches from other brands if I have to. I just have a preference for Apple.