Podcast - Scott Pape “The barefoot investor”

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On Sunday morning 12/10/08 after an episode of Money Matters, Kel and I sat down with the best selling author the ”Barefoot Investor“,  Scott Pape.

Scott shared his thoughts on Generation Y and their problems with credit card debt, how they can save and create wealth, managing mobile phone expenses and whether it is worthwhile seeking financial advice.   An entertaining discussion …. do you know what Twitter is?  A highlight for me, was his comment that personal finance is 80% behaviour, 20% knowledge.  How true.

Scott is a regular voice on National radio (Austereo network) and writes a a weekly column for the Herald Sun, the Courier Mail and the Daily Telegraph.    He is a man who sees it how it is.  By his own admission, he “keeps it real”.

Scott understands that young people growing up are faced with a lot of pressures and, if they are to be successful, they are required to compete in an extremely competitive economic environment, where having a degree is by no means a ticket to a successful career and financial happiness. Read more

Josie’s cheap holiday deals

The idea behind this page is simple really. I wanted to put everything in one handy location.   Everything you’ll need to make your next holiday the best ever.  Everything from booking flights, accommodation, travel Insurance, car hire and more.

My team and I have sourced the best & cheapest deals for you check out next time you’re planning a holiday. Don’t forget to bookmark this page and keep coming back because as we find new holiday deals and specials we will update this page.

image credit: beaumitchell

Getting there

Sign up to the Travelzoo Top 20 for free and you could win from a choice of 3 prizes! They include a Thailand trip for two, Cruise holiday voucher worth $1000 or a Whitsunday’s holiday package.

Insurance

If you’re planning a holiday overseas, travel insurance has to be a must. A lot of people I know have gone with the whole “it won’t happen to me attitude” until it does happen to them and then they’re out of pocket for thousands of dollars. Not the way you want to end your holiday.

Travel Insurance can be expensive…but not for AskJosieKay.com readers.

Save money on travel insurance and receive discounts on all the major brands like:

Accommodation

Stella Holiday destinations

Features 25 resorts across the Gold Coast at Main Beach, Surfers paridise and Broadbeach - the perfect place for a holiday.

The cheapest way to do it is to book online…you’ll save more by doing it this way.

Check out some of Australias premier holiday destinations here.

Breakfree Resorts

You will find the perfect affordable family holiday here:

BreakFree resorts offer affordable accommodation in Australia’s favourite holiday destinations.*

Last minute Accommodation deals

HOWZAT is the accommodation specialist for the guaranteed cheapest 14 day last minute accommodation reservations as well as discounted advance 12 months or year round availability.

Bookings can be made for hotels, serviced apartments, resorts, guesthouses, bed & breakfasts, health retreats, motels and farm-stays in Australia, New Zealand & Vanuatu.

Choose your regions within Queensland, New South Wales, Victoria, South Australia, Western Australia, Tasmania, Northern Territory, Canberra, New Zealand, Vanuatu and enjoy immediate on-line booking confirmations or personalised service and advice. FREE call 1800 4223 64 .

Book online and save up to 50% on accommodation.*

Airflights

Best Flight deals online

Best Flights are quickly becoming known as one of the most innovative, pro-active retail travel companies in the country and a major supplier of discounted air fares.

Click for domestic/international flights!*

Airport Parking

Airport Parking provides indoor and outdoor airport parking all across Australia and New Zealand and save up to 70%. Book On Line NOW and reserve your parking.

Secure Airport Parking - BOOK NOW

Finance Calculators - as featured on Money Matters

Hello readers - Kel Harper here doing some work for Josie….On Sunday’s Money Matters show Josie mentioned some finance calculators…well, I haven’t had time to make any cool little images for you to click on but I do have the links….all you have to do is click and have fun:

Millionaire calculator:

http://www.askjosiekay.com/java/Millionaire.html

Compound Interest:

http://www.askjosiekay.com/java/CompoundInterest.html

Mortgage Pay off:

http://www.askjosiekay.com/java/MortgagePayoff.html

Mortgage v Rent:

http://www.askjosiekay.com/java/MortgageRentvsBuy.html

Tell me about the Pension Bonus Scheme

Q. On your radio segment on the 1st June 2008 I only heard the end of a comment about pension age people who are not taking the pension but are being rewarded somehow.

As I missed the bulk of the conversation would you be able to provide some more information or direct me to a website. Some background for you.

My pension age parents and myself are farmers and as my parents have a large asset base they are inelligible for the age pension amongst other benefits.

As the farm is to be handed down to me, the “asset” is really a business. They refuse to give any asset away before the execution of their will and as such haven’t planned ahead for this situation.

A: You are referring to the Pension Bonus Scheme (PBS) which has been in operation since 1998 and just like yourself very few people have even heard of it.

The PBS is to reward people who work past age pension age, currently 65 years if Read more

$1500 Co-contribution for my children and excessive fees in super funds

Q. I phoned your Money Matters show last Sunday & asked about investment option for my 14yo daughter who has 2 jobs.

You suggested super, to get the govt incentive. She is not earning enough to pay super yet, though a fund has been set up by employer.If she pays in herself, & gets govt incentive, won’t all that be eaten away by fees as she will not be earning enough from either employer to be paying super for some time yet?

Everything my 19 yo daughter has paid into super (by employers) so far has gone in fees. She actually has a negative balance on her super a/c.

Josie’s Answer: I certainly remember your call and was particularly impressed by your two very hard working kids.

I suggested researching the possibility of taking advantage of the super co-contribution scheme, whereby those earning less than $28,980, are eligible to receive $1500 from the government if they contribute $1,000 of personal contributions into their superannuation account.

There is no minimum age requirement, but they need to working, lodge a tax return and you need to ensure that the money is debited from their own bank account.

Read more

Living on the Pension: Podcast

Do you know anyone Living on the aged Pension or are you trying to get by on the pension yourself?

There’s really not a lot of money to live on…so how can you do it? Well in this episode your very own Certified Financial Planner Josie Kay, looks at life on the Pension and shares her valuable insight with Talking Back the Night radio host Nerissa Pace. Read more

Share Market Volatility - Podcast

The volatility of the Share Markets has been well documented recently with millions of investors all over the world feeling the effects. One of the question’s we get a lot on our national radio show “Money Matters” is “The Share market has dropped, we’re losing money, should we sell?”

This weeks Ask Josie Kay Podcast is taken from a radio interview Josie did with Nerissa Pace on her night time talk back show “Talking Back the Night” and looks at the Share Market.

As usual Josie’s advice flies by at a great rate of knots, so make sure you grab yourself a pen so you don’t miss any of her excellent advice…where else will you get this kind of advice free?

(Podcast on next page)

Read more

Currency fluctuations and investing

Q. I have some money invested in international shares. How does the fluctuations in the $A affect my return?

Josie’s Answer - Once a decision has been made to invest in a security of another country, it automatically involves an investment in that currency.

An investment in an American share will mean that the return will be affected by any movement in the US Dollar relative to the Australian dollar. If the US Dollar strengthens, then the value of an investment in a US share will also strengthen.

So depreciation of the Australian dollar adds value to an overseas investment, and an appreciation of the A$ means that it will detract from returns. If you are invested in a managed fund (and you probably are through your super), some fund managers have the option to employ hedging strategies or active management of currency.

Hedging is a tool employed as insurance, to protect a portfolio from future exchange rate variations. If you fund states it is ‘unhedged’ it means that it will benefit from a depreciating $A, but the return will reduce by an appreciating $A. Read more