Five Steps To Financial Health
The Australian Women's Weekly|April 2019

Giving a little time and attention to your finances can yield huge monetary benefits, according to Money magazine editor Effie Zahos.

Genevieve Gannon
Five Steps To Financial Health
1 Be super attentive

The Royal Commission has underscored what we’ve long known: if you’re with an under performing super fund you can lose tens of thousands of dollars. Women in particular need to be diligent about monitoring retirement savings, Effie says, because the gender wage gap and taking time out to raise a family put them at a disadvantage.

“Super is (for most of us) one of the most tax-effective wealth creation strategies for the future,” Effie writes in her book, A Real Girl’s Guide to Money.

Most people are in a balanced fund, but there is a big difference in returns within that category. “Fees can range from 0.6 to over two per cent and that means a lot to your end balance,” Effie says. Ask yourself, what’s your fee? What are you paying? “You shouldn’t be paying more than one per cent.”

When comparing super funds look at performance, Effie says. Make sure you compare performance over a period of at least five years, not just the past year.

“If you had $100,000 in the worst performing fund you’d be worse off by $60,000 over a 10 year period,” Effie says. “That’s a comfortable life for one year.”

2 Clean up your home loan

Home loans are a big chunk of your household budget, so negotiating a better rate can potentially increase your monthly income by a few hundred dollars.

Diese Geschichte stammt aus der April 2019-Ausgabe von The Australian Women's Weekly.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

Diese Geschichte stammt aus der April 2019-Ausgabe von The Australian Women's Weekly.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

WEITERE ARTIKEL AUS THE AUSTRALIAN WOMEN'S WEEKLYAlle anzeigen
Hitting a nerve
The Australian Women's Weekly

Hitting a nerve

Regulating the vagus nerve with its links to depression, anxiety, arthritis and diabetes - could aid physical and mental wellbeing.

time-read
5 Minuten  |
July 2024
Take me to the river
The Australian Women's Weekly

Take me to the river

With a slew of new schedules and excursions to explore, the latest river cruises promise to give you experiences and sights you won’t see on the ocean.

time-read
4 Minuten  |
July 2024
The last act
The Australian Women's Weekly

The last act

When family patriarch Tom Edwards passes away, his children must come together to build his coffin in four days, otherwise they will lose their inheritance. Can they put their sibling rivalry aside?

time-read
8 Minuten  |
July 2024
MEET RUSSIA'S BRAVEST WOMEN
The Australian Women's Weekly

MEET RUSSIA'S BRAVEST WOMEN

When Alexei Navalny died in a brutal Arctic prison, Vladimir Putin thought he had triumphed over his most formidable opponent. Until three courageous women - Alexei's mother, wife and daughter - took up his fight for freedom.

time-read
8 Minuten  |
July 2024
The wines and lines mums
The Australian Women's Weekly

The wines and lines mums

Once only associated with glamorous A-listers, cocaine is now prevalent with the soccer-mum set - as likely to be imbibed at a school fundraiser as a nightclub. The Weekly looks inside this illegal, addictive, rising trend.

time-read
10 Minuten  |
July 2024
Jenny Liddle-Bob.Lucy McDonald.Sasha Green - Why don't you know their names?
The Australian Women's Weekly

Jenny Liddle-Bob.Lucy McDonald.Sasha Green - Why don't you know their names?

Indigenous women are being murdered at frightening rates, their deaths often left uninvestigated and widely unreported. Here The Weekly meets families who are battling grief and desperate for solutions.

time-read
10+ Minuten  |
July 2024
Growing happiness
The Australian Women's Weekly

Growing happiness

Through drought flood and heartbreak, Jenny Jennr's sunflowers bloom with hope, sunshine and joy

time-read
8 Minuten  |
July 2024
"Thank God we make each other laugh"
The Australian Women's Weekly

"Thank God we make each other laugh"

A shared sense of humour has seen Aussie comedy couple Harriet Dyer and Patrick Brammall conquer the world. But what does life look like when the cameras go down:

time-read
7 Minuten  |
July 2024
Winter baking with apples and pears
The Australian Women's Weekly

Winter baking with apples and pears

Celebrate the season of Australian apples and pears with these sweet bakes that will keep the midwinter blues away.

time-read
10+ Minuten  |
July 2024
Budget dinner winners
The Australian Women's Weekly

Budget dinner winners

Looking for some thrifty inspiration for weeknight dinners? Try our tasty line-up of low-cost recipes that are bound to please everyone at the table.

time-read
5 Minuten  |
July 2024