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Category: Your Money Gen X

Tax time is less than two months away. What should people be doing now to make it less painful?

A wise man (Daniel be his name) once told me: “accountants organise what’s already happened. Financial advisers organise the future.” And that, dear readers, is today’s exercise. Six weeks till June 30? Plenty of time. Last year, the editor gave us four days! Okay, there’s the short-term “purchasing” advice. Some are able to claim items […]

What can a householder learn from how the Federal Government manages its Budget?

“Oooh, ooh! Me, sir, me! I know this answer! Please sir!” “Ye-e-es, Debt Man,” the teacher says hesitantly. (He always hestitates when I raise my hand.) “That you shouldn’t get cornered into making promises that, deep in your heart, you really don’t want to keep?” Prime Minister Julia Gillard promised at the last election that […]

Should Australians be tipping at restaurants, and if so, how much?

Who’s my waitress for the evening? Two Broke Girls? If it’s Penny from Big Bang Theory, my tip … will be HUGE! If it’s Roseanne Barr … loose change. She’s a scary bad waitress. I flip and flop on this issue. I go through stages where I tip a standard-ish 10 per cent, or round it up […]

Should Australians be tipping at restaurants, and if so, how much?

Who’s my waitress for the evening? Two Broke Girls? If it’s Penny from Big Bang Theory, my tip … will be HUGE! If it’s Roseanne Barr … loose change. She’s a scary bad waitress. I flip and flop on this issue. I go through stages where I tip a standard-ish 10 per cent, or round […]

How much money should young adults receive from their parents as a financial kick-start?

Depends. Who’s reading this? If it’s Boomers and Retirees, then the answer is “lots. You’re too old to enjoy it. Give it to the kids now, you old geezers!” If it’s Generations X and Y, then … sod it, we know we really should make our own way. Our parents did a great job of […]

Debt from a previous relationship, or a current partner, can cripple your finances. How do you fix it?

Simple: Love ’em and leave ’em. Or is that too cruel? When it comes to finances, one person inevitably has a better understanding of money and tends to take some sort of control. If that happens, the other has to have an open mind and accept that “control” is often for their own good. If […]

Most of us like flashy cars – is it always a waste of money to buy a brand new one?

Oooh, I haaaate flashy cars! Cars – beautiful shiny cars … are, the greatest way Gen Xers can waste money on this planet. New cars are gigantic wealth suckers. The flashier, the suckier. Financial vacuum cleaners, souped up by Tim “The Tool Man” Taylor. They clean out wallets, bank balances and credit ratings like little […]

Should we share our money successes and failures with friends and family?

Share the actual monetary reward or loss? Oh, no, no, no, NO! That would be … communism! No commies in these pages, thanks very much. But talking about what created success and failure? Absolutely. In my opinion, your salary/income should be private. Outside of that, friends and family should talk more about investment successes and […]

At what age should you start to teach children about the importance of money?

In utero! Derrr! Expectant parents are told to “play soothing music” to their unborns. I hate soothing music. Reminds me of elevators. Claustrophobia. No room in the womb. But L’il DebtBoy and DebtGirl weren’t deprived. They were played music. Money music! On 24/7 loop cycle through the house were tunes including Billionaire by Travie McCoy, […]

Is it a good idea to lend a friend money if they ask for your help?

A no-win situation. Kiss the money goodbye if you do. And feel like a mean bastard of Judge Judy proportions if you don’t. Hey, idea! Treat the situation like you would if you were a bookie. Lay off your bets! Let’s say you loan your mate Paddy $1000. Next, go borrow $500 from Mick. Now, […]