5 simple ways to avoid overspending at the shops

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Beat the Retailers at their own Game

We are all prone to overspending. Ladies, just look at all the clothes you have purchased over the years, and half of them you probably don’t wear. If I calculated how much I have spent just on clothes since I started work at 15 years of age, I would no doubt be horrified (best to stick my head in the sand!).

The men are not going to get away with it either. From my experience they tend to purchase big ticket items, such as big screen TVs, power tools, and stereos. Read more

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

Struggling with Budget

Q. Hi Josie, my husband and I are really struggling putting together a household Budget. Any suggestions?

Josie’s answer: Maybe you are setting unrealistic goals. Can’t believe I am saying this, but maybe you are foregoing too many luxuries and you are extremely bored.

Just like dieting, if you ate that piece of chocolate cake, it doesn’t mean you have to throw away the whole diet.

For example, you don’t have to give up going to the movies, just go when they have cheap nights. Your budget Read more

Financial Hell - Please help!

Q. I could really do with some help. I have been trying to sort my finances out for the last 5 years but spending a lot of energy standing still.

After ten years of marriage my wife decided she didn’t want to be married anymore.

My ex-wife retained the majority of the matrimonial assets such as our flat and car. I accumulated a debt of $20k from legal bills etc as it took a long time to arrive at a property settlement. The debt is sitting on five credit cards which I planned to close and consolidate into a personal loan as soon as possible.

However, after the five years I still can not obtain a personal loan. I naturally had to find a new place to live and I have had three changes in job in the last three years due to factors such as contract work.

I now have almost completed 3 months in a permanent on-going position with a university. I have cut my personal budget back to the absolute bare minimum and kept up the interest payments on the credit cards but I do not have perfectly clean bills.

I have tried banks, credit unions etc but with no success in terms of debt consolidation. I have been advised with a salary of $53,500 that I would have no problem servicing a loan but can only apply for unsecured loans as I have no security.

The debt is starting to become more difficult to manage. Can you suggest or offer any other options, strategies or suggestions besides a debt agreement or bankruptcy?.

Josie’s answer: You really have been through a lot in recent years. It appears that your ex-wife received the goldmine and you got the shaft.

I am also tired of hearing stories of people struggling to get out of debt because of lawyer Read more

What is the Rule of 72?

Q. Someone mentioned the Rule of 72. What does it mean?

Josie’s answer - I love the rule of 72 which is a very handy to remember.

It is known as the rule of 72 because it can give you a quick answer as to how quickly your investment can grow by re-investing your investment’s earnings. It tells you how many years (give or take a month) it will take to double your money at a given rate of return.

You need to start with the number ‘72’. You then determine what rate of return you expect to get on your investment. By dividing this return into 72 you will know for how many years you need to invest to double your money. Read more

I think I have lost a bank account. Where do I go?

Q. I was listening to your radio show and missed the name of the website for lost bank accounts. I’ve changed addresses a few times and positive I have some money sitting somewhere!

Josie’s answer: The website I was referring to is www.fido.gov.au. To make it easier, the following link gets you straight there - Read more

Wealth Creation Tip #2 - Podcast

This weeks Wealth Creation Tip is simply entitled - “I hate Budgets.” Can you believe? Josie Kay actually admitting she hates Budgets…..or does she?

Audio runs for 90 seconds….Click the play button and let’s start saving.

Wealth Creation Tip #1 - Podcast

Some times it’s the simplest things that can save us the most amount of time and money. In our first edition of “Wealth Creation Tips” we look at clutter….

Audio runs for 1 min & 30 sec….click the play button & start saving money: