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Category: Your Money Gen X

Switching super funds may seem like a good idea to some, but is it worth the hassle?

Hey, just how bad can a super fund be?  Believe me, you have no idea. Some super funds from the 80s and early 90s are nothing short of criminal. Yes, criminal. I’ll go one step further. Some 80s superannuation executives should be awaiting their final meal on death row for crimes against their customers, a […]

Tax time is just over a month away. How should your generation prepare for it now?

Damnit! Too late! Why are we asking this question now? Should have asked this 10 ¾ months ago. But, instead of planning for tax time throughout the year … we leave it to the last minute. Month. Whatever. I know tax is not something you want to think about all year round. If you’re not […]

What are three key things you want your children to know about money?

Marshmallows, money trees and managing risk. The first two are sexy enough to be easy sells to my DebtKids. The last one … just not so catchy, is it? Marshmallows is about delayed gratification – “evil” scientist Walter Mischel’s experiment to see if kids could stay in a room without eating a marshmallow. Most kids […]

How much money will your generation need for a comfortable retirement?

COMFORTABLE?! Who wants “comfortable”? Raise your hand if exceedingly average, mundane and boring appeals to you? No-one? Right, let’s get real. Let’s substitute “comfortable” for … “obscenely wealthy”. Gen Xers, aim for ridiculously lavish. This is where you spend and splurge the equivalent of Fiji’s gross domestic product annually. Sometimes maybe even in Fiji, but […]

What are some simple ways to improve financial literacy in Australia?

What if the meaning of the letters W-E-L-C-O-M-E were officially changed from “welcome” to “loser”? (A bit random, I know. Stick with me.) But you didn’t know. You then wouldn’t understand why party guests, as you greeted them to your house, punched you in the face. On a macro level, I think the single best […]

Asking mum and dad for financial help seems more common these days. What rules should you set?

You don’t ask. Too much like pestering, like your own kids demanding the latest Barbie/Ben 10 widget. You want money from the oldies? Keep it family like … like the Mafia. You make threats. Emotional blackmail works a treat. (And doesn’t leave bruises!) Our parents are at ages when they’re worried about becoming physically and […]

Investors can suffer from information overload. What key sources should they use for learning?

UM, here! (Right answer, Mr Editor?) But you need more than we can fit here each week. We’re talking two commodities here. One is information. Two is time. There is, literally, truckloads of information. And, as luck would have it, Gen Xers have oodles of time on their hands. Careers, kids, after school and weekend […]

Balancing a household budget can be tricky – where is the best place to find savings?

A balanced budget? For Gen X? Seriously? If Treasurer Wayne Swan can’t do it – with the ultimate power to tax the population – what hope us? Gen Xers’ current life stage is known as “Mega Maid” – the giant vacuum cleaner in Spaceballs – as mortgages and midgets hoover the bank account. But we […]

Rewards points, low rates or interest-free days – what should you look for in a credit card?

It’s time to lay the (credit) cards on the table. We’ve had a national “sorry” day. I believe it’s now time for a national, annual, “thankyou” day. And today is perfect! One week after April Fool’s Day! Australia’s credit card “fools” need some recognition. They shout the rest of us, who use credit cards properly, […]