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JV Financial Group, Canberra (2026)

21/05/2020

How to set up your budget
May 21, 2020
MoneySmart
(ASIC)
Having a budget helps you to feel in control of your money. You can put aside money for big bills when they arrive, and plan savings to achieve your money goals.
You don’t need an accountant or special software to set up your own budget. Start by looking at where you are right now and where you want to be.
Set your money goals
First, work out why you want to do a budget. This can help you to decide where you want your money to go.
Ask yourself: what is my goal? It could be to stay on top of bills, save for emergencies, pay for your children’s education, or save for a holiday or a house deposit.
See where your money goes
Having a clear picture of your regular expenses and spending habits will help you set up your budget.
To do this, track your spending over a week, a fortnight or a month. See track your spending for practical ways to do this.
How to set up your budget
Use how often you get paid as the timeframe for your budget. For example, if you get paid weekly, set up a weekly budget.
Then follow these steps to set up each section.
Use our budget planner
Set up your budget and save it online or use our Excel budget spreadsheet.
1. Record your income
Record how much money is coming in and when. If you don’t have a regular amount of income, work out an average amount.
Make a list of all money coming in, including:
how much
where from
how often (weekly, fortnightly, monthly or yearly)
This money could be from your wages, pension, government benefit or payment, or income from investments.
2. Add up your expenses
Record your regular expenses, including:
what for
how much
when
Regular expenses are your ‘needs’ — the essential items you need to pay for to live. These include:
Fixed expenses, for example:
rent or mortgage payments
electricity, gas and phone bills
council rates
household expenses, like food and groceries
medical costs and insurance
transport costs, like car registration and public transport
family costs, like baby products, child care, school fees and sporting activities
Debt expenses, for example:
personal loan repayments
credit card payments
mortgage repayments
Unexpected expenses, for example:
car repairs and services
medical bills
extra school costs
pet costs
To make sure you’ve recorded all your expenses, look at your bills or bank statements. If you tracked your spending, use your list of transactions.
3. See if you can save
Having some savings can help create a safety net for unexpected expenses. Set a savings goal and work out how much you can save each payday.
Use our savings goals calculator
Work out how long it will take you to reach your savings goal.
4. Set your spending limit
The money you have left after expenses and savings is your spending money. This money is for ‘wants’, such as entertainment, eating out and hobbies.
Make a plan for what you want to do with your spending money. This will help you to keep within your limit. Keep track of your spending so you always know how much you’ve got left.
Set up three bank accounts: a high interest savings account for savings, and two transaction accounts for spending and bills. Schedule transfers of your savings and direct debits for your bills to automate your finances.
Review your budget regularly
It’s important to adjust your budget as things change. For example, if you find you can’t cover all your expenses, savings and spending, you may have to reduce your spending limit, or change your savings goal.
For ideas to help reduce spending, see simple ways to save money. You can also look for ways to increase your income.

04/04/2019

Splurge or save?
April 3, 2019
(Money and Life)
We all have luxuries that tempt us to spend more and things we wouldn’t dream of shelling out for. We asked the Money & Life team to spill the beans about what they splurge and save on in their budget.
Lauren Bolton – Marketing Manager
Splurge – Holidays Abroad
I always look forward to my holidays and traveling in style is a real treat for me. I don’t have a family yet, so heading overseas, staying in lovely hotels and eating out is something I can still enjoy. I’ll save my camping days for when I have my own little mob in tow!
Save – Pharmacy
I’ll always opt for the generic choice for prescription and over-the-counter medicine. You’re getting the same ingredient and result no matter which brand you buy, so it makes sense to save by going with the cheaper alternative.
Neil Ganatra – Marketing Executive
Splurge – Dining Out
There’s nothing better than a cold drink and fine food to make you feel like you’re getting the best from life. So eating out is a big priority for my budget from week to week.
Save – My Car
In my view, a car is just a means to get you from A to B. So I definitely can’t justify spending a lot on buying and maintaining an expensive model. Something affordable and reliable is all it takes to keep me mobile.
Elle Manton – Head of Marketing
Splurge – Pilates and Stationery
I’m absolutely devoted to doing Pilates so I’ve made a big financial commitment over the years to my reformer training classes. They’re expensive but there’s no other workout like it and the money I’m spending now is going to do my body good for years to come.
I’m also a bit of a stationary addict. When a gorgeous diary or notebook catches my eye, I find it impossible to resist! It’s so nice to have some new eye candy to brighten up my desk at the office or my shelves at home.
Save – Groceries
Switching to Aldi for my grocery shopping has made a big difference to my household budget. With three growing boys to feed, the money I’ve saved on food bills has been significant. They seem to get hungrier every day so I’m expecting to save a lot more as they get older.
Karen Worsfold – Marketing Manager
Splurge – Hair and cafés
Having my hair cut once a month is one of my essential luxuries as it makes me feel and look my best. The other is heading out to brunch in café or a casual dinner at the weekend. It’s a highlight of my week and is one of my favourite ways to relax and enjoy myself.
Save – Make-up and packed lunches
I’ve found ways to get the balance right with my beauty and food budgets so I don’t have to feel bad about these regular “treats”. I hardly buy any make-up and always choose affordable locally made organic beauty products over expensive big name brands. And I’ve saved a fortune – almost $100 a week – by bringing my lunch and giving up take-away coffees on work days.
Sticking to a budget doesn’t have to mean giving up everything that make life feel special. If money seems to slip through your fingers, discover how keeping track of your disappearing dollars can bring you financial stability without sacrificing all your luxuries.

03/04/2019

Budget 2019/20: Key figures and measures
April 2, 2019
(Australian Associated Press)

Key financial figures and government fiscal measures in the 2019/20 federal budget:
* First Australian budget surplus in 12 years forecast for 2019/20 financial year, representing a turnaround of $55 billion since 2013 when the coalition was elected.
* The surplus of $7.1 billion is better than the government’s previous forecast of $4.1 billion.
* Bringing forward of tax relief for about 10 million workers earning up to $126,000 a year, adding up to $1,080 to individual pay packets.
* A cut in the tax rate paid by 94 per cent of Australians to 30pct, from 32.5pct, in July 2024.
* The government is also projecting more surpluses in three years from 2020/21.
* The surplus forecasts of $11 billion, $17.8 billion and $9.2 billion are less than previously forecast.
* Commonwealth net debt forecast at $361 billion – or 18 pct of GDP – in 2019/20.
* Government expected to eliminate net debt by 2029/30 “or sooner”.
* Gross domestic product forecast to grow by 2.75pct in 2019/20 and 2020/21
* Employment to grow by 1.75pct in next two years.
* Government pledges to create extra 1.25 million jobs over next five years.
* Jobless rate forecast at 5pct over next four financial years.
* Wages tipped to grow by 2.75pct next year and 3.25pct in 2020/21.
* Inflation to remain subdued around 2.25-2.50pct in next two years.
* Expansion of instant asset write-off to businesses with turnover of up to $50 million.
* Increase in instant asset write-off amount to $30,000, from $25,000.

09/03/2019

Living longer, women could invest more
March 6, 2019
Greta Stonehouse
(Australian Associated Press)

Women need to look at making their money work harder to help offset the double impact of earning less than men while living longer.

Funds manager Fidelity International says women are grossly underestimating how much money they will need to retire comfortably.

Ahead of International Women’s Day on Friday, Fidelity has found men estimate they need about $1.5 million in retirement, while women cite a figure closer to $1 million.

But the survey of 1,222 people with a minimum of $20,000 in investable assets outside superannuation, found that women are still more prone to worry about their financial future despite investing less than men.

Of those surveyed, 73.5 per cent of men said they felt they had the right level of knowledge regarding investment compared to only 58.8 per cent of women.

Managing director of Fidelity International Alva Devoy says, with many falling behind in seniority and super savings because they take more career breaks to raise children, women need to maximise gain later down the track.

“If women’s ability to earn and then save during their working lives is less than men’s, then it’s more important than ever that they have access to the tools to make their money work hard for them,” Ms Devoy said.

The report pointed to an example showing $10,000 invested in cash in S&P/ASX200 in the year 2000 would be worth $45,000 today, while the cash would be worth $21,780.

The research suggests not having enough money, a lack of confidence, and being more risk-averse as factors holding women back in this area.

More women said they were interested in paying off their debt, before investing and capitalising on interest.

“Having enough money to provide for their families, paying off their mortgage and having enough money for the lifestyle they want in retirement all ranked as top priorities”, Ms Devoy said.

Ms Devoy said unlocking women’s financial power would not just benefit women, but society and the economy as a whole.

27/02/2019

Vocus Group moves away from consumer NBN
February 27, 2019
Derek Rose
(Australian Associated Press)

Vocus Group says it is shifting its focus from the “complex and economically unattractive” NBN in favour of offering customers 5G fixed wireless.
The company said on Wednesday that, with fixed wireless plans simpler and cheaper to operate, it is looking to move towards such a plan for its Commander, Dodo and iPrimus internet brands.
Vocus says that the NBN is “currently not economic or sustainable in the consumer market” and it won’t look to grow its NBN market share, currently at 6.9 per cent.
It said the variable nature of the NBN pricing structure is incompatible with the fixed prices paid by consumers, and the NBN had too much administrative and operational complexity.
NBN was also too expensive and “cashflow negative” after providing consumers with modems and other administrative and operational costs.
“NBN pricing is simply too high,” the company declared in a slide in a presentation to investors.
The Australian Competition and Consumer Commission last year ordered Vocus to provide compensation to over 5,000 customers who didn’t receive advertised speeds.
The economics of the business market is “slightly better” than the consumer one but still has issues, Vocus said.
Vocus said 5G offers more opportunity, lower cost and is arguably a better product.
The telecommunications company signed an strategic partnership with Optus in December and is keen to expand that pact to include a fixed wireless offering.
Optus is currently accepting “expressions of interest” for a $70 a month 5G home broadband plan it will launch midway through the year.
Vocus indicated it prefers its strategic and commercial partnership with Optus rather than accepting whatever price is set by a government monopoly.
Vocus said its underlying net profit was down 29 per cent for the half-year that ended December 31, to $48.8 million.
Its revenue increased one per cent, to $974.2 million.
Vocus, which is in the middle of a three-year turnaround, did not declare an interim dividend and won’t until it reduces its debt further.
As of December 31, it had $1.09 billion in net debt.
Vocus shares were up 6.13 per cent, or 21.5 cents, to $3.725 at 1352 AEDT.

27/02/2019

Economic risks up from budget update
February 20, 2019
Marnie Banger
(Australian Associated Press)

Australia’s economy is facing more threats to growth than it was just two months ago when the federal government handed down its mid-year budget update, according to the Treasury boss.
Treasury secretary Philip Gaetjens says growth forecasts remain solid but flooding in north Queensland is among risks that weren’t accounted for in December’s update.
That means the government has plenty to think about as it prepares to hand down the next federal budget on April 2.
“We are preparing budget forecasts against a backdrop of increased uncertainty and accumulating downside risks,” Mr Gaetjens told a Senate estimates hearing in Canberra on Wednesday.
The drought affecting eastern Australia is another key area of economic uncertainty on the domestic front, along with downward trends in agricultural production and building approvals.
That comes as growth has eased in Japan and Europe, where Brexit also looms as a source of uncertainty, and trade tensions continue to simmer globally.
The United States and China are in the midst of trade negotiations, which Mr Gaetjens noted could either hamper or help the Australian economy depending on their outcome.
Finance Minister Mathias Cormann said the risks to the economy show now would be the wrong time to increase Australia’s tax burden – a government attack line against Labor as the federal election looms.
“Given all of the other risks we are facing, that would make the Australian economy weaker,” he told the estimates hearing.
But Mr Gaetjens also identified some positive recent developments, with commodity prices running higher than they were assumed at the mid-year budget update.
Employment conditions also remain strong, with jobs growth expected to continue and “ultimately support a pick-up in wage and price growth”, meaning Australians will eventually get a pay rise.
That prediction came as new figures showed wage growth was lacklustre in the three months to December.
Wages grew by a seasonally adjusted 0.5 per cent in the quarter, slightly less than the 0.6 per cent growth predicted, according to the Australian Bureau of Statistics’ latest wage price index.
The next national accounts for the December quarter, due to be released early in March, will be an important indicator of where the economy stands, Mr Gaetjens said.
But he stressed the need for the government to exercise fiscal discipline.
Even with the surpluses forecast in the mid-year budget update for the coming decade, gross debt will stand at 14.6 per cent of gross domestic product in 2028/29.
“It is vital that fiscal discipline be maintained to ensure Australia has budget headroom to be adequately prepared for any adverse surprises,” Mr Gaetjens said.

25/02/2019

Opt-in superannuation insurance premiums
February 20, 2019
Rebecca Gredley
(Australian Associated Press)

The Morrison government is trying again to make opt-in insurance premiums on superannuation accounts with low balances and young new members, after teaming up with the Greens to remove the measure from an earlier bill.
Assistant treasurer Stuart Robert said although insurance provided a great benefit for some people, the cost often eroded entire superannuation accounts for those with low balances.
“This bill will benefit young and low-balance members and is in the best interests of all Australians,” he told the lower house as he introduced the bill on Wednesday.
The legislation would make all insurance opt-in for accounts with balances below $6000 and for new members under the age of 25.
Labor wants to create exemptions for some categories of workers, including those in risky industries and young single parents, while the Greens want insurance to be opt-out for everyone.

23/02/2019

Ten home renovation ideas to add value
February 20, 2019
(Your Loan Hub)
Taking care of basic maintenance tasks before you sell your home is a no-brainer, but a quick and not-too-costly renovation can add a lot of appeal for potential buyers, and may boost the final sale price.
1.Basics first
Fix those little faults that you no longer notice – leaky taps, rusty gutters, broken window catches. They can make a huge difference to a buyer’s perception of value.
2.Landscape the garden
A well-kept garden can create a low-maintenance feel before buyers even step inside.
3.Bring the outside in
Opening living areas to the garden can be as simple as adding big bi-fold doors that create an inviting sense of flexibility.
4.Take the inside out
The garden is a place to live: a barbecue area, deck, pergola or even a plunge pool all invite buyers to imagine their future lifestyle in your home.
5.Let the light in
Brightening dark areas boosts a home’s appeal; you can install skylights quite economically, and swap solid doors in dark areas for glass-panelled ones.
6.Put some colour on it
Fresh paint makes a home look ready to live in. Think carefully about colours, and maybe seek some interior design advice – although neutral colours present some people with a blank canvas, to others those spaces just seem bland.
7.A solid footing
New carpets make a home feel new. Again, think carefully about colour. A step further? Look under the carpet – those timber floors will be lovely when sanded and sealed.
8.Green it
Installing solar panels or a solar hot water system can add value for potential buyers, who will see future energy cost savings.
9.Bathroom fix
A brand-new bathroom can cost a lot. Instead, think of replacing shower curtains with clear glass screens and installing new taps, a water-saving cistern and even a new toilet seat. Replace small tiles with big ones, and don’t forget to clean/renew the grout.
10.Add storage
Buyers are looking for places to store their stuff – cupboards in the garage and in neutral spaces such as hallways are always welcome. A butler’s pantry in the kitchen is great, too.
Some simple and affordable renovation moves can make your home more desirable to buyers, potentially adding to the final sale price.

22/02/2019

Small business tax breaks reach parliament
February 13, 2019
Rebecca Gredley
(Australian Associated Press)

The federal government’s plan to extend and lift the instant asset write-off for small businesses has been introduced to parliament.
The draft laws will see the instant asset write-off for small businesses extended to June 30, 2020, and lifted to cover purchases of up to $25,000.
“This bill will benefit small business by improving their cash flow and bringing forward investment,” Assistant Treasurer Stuart Robert told the lower house as he introduced the bill on Wednesday.

21/02/2019

Wage growth lacklustre, eyes on jobs data
February 20, 2019
Alex Druce
(Australian Associated Press)

Analysts say it could be a while before Australia’s income growth offsets the property market slump in a meaningful way, with lacklustre December quarter wage data further testing the Reserve Bank’s narrative on the health of the economy.
Wages grew by a seasonally adjusted 0.5 per cent in the three months to December, according to the Australian Bureau of Statistics, slightly less than the 0.6 per cent growth predicted.
A silver lining came in the private sector’s salary gains during 2018, which, at 2.3 per cent, is the highest annual rate in four years.
Public sector wages grew by 2.5 per cent over the 12 month period.
Eyes will now turn to Thursday’s unemployment data, with JP Morgan analyst Tom Kennedy nominating jobs growth as a key to boosting employee compensation and in turn, spending.
“With the peak in GDP growth behind us, and some leading indicators of the labour market already slowing, this seems like a big ask,” he said.
The RBA has kept rates at a record low 1.5 per cent since August 2016, but last week shifted from a bias toward rate hikes to a more neutral stance as Australia’s property market slows and business conditions, building approvals and retail sales cast a shadow over the domestic outlook.
BIS Oxford Economics Chief Australia Economist Sarah Hunter said that Wednesday’s wage data was particularly disappointing for the largest sectors of employment: construction, retail, and wholesale trade.
“With these sectors already struggling against headwinds from consumer spending (in the case of retail and wholesale) and the downturn in residential construction (in the case of construction), it will be some time yet before we see a significant acceleration in the pace of growth,” she said.
Australia’s unemployment rate is at a seven-year low of 5.0 per cent in December, but underemployment levels have left plenty of spare capacity to absorb.
The Aussie dollar dropped to 71.52 US cents in the five minutes after the wage data release on Wednesday but climbed back to 71.71 US cents by 1315 AEDT.

21/02/2019

Some would ‘rather die’ than enter care
February 20, 2019
Tim Dornin
(Australian Associated Press)

Some Australians would rather die or “poke their eye with a pencil” than go into residential care, the royal commission into aged care has been told.
UnitingCare Australia national director Claerwen Little has revealed the grim consumer feedback her organisation took from a focus group and an online survey.
She said it found that people did not have a good understanding of the aged care system and it was something they did not think much about until they had to.
“Sadly, some people suggested they would rather die than go into a residential aged care facility,” Ms Little said.
“They would rather poke their eye with a pencil than have to enter a home.
“The expectations of people are that residential aged care is not a good place to be.”
In other evidence to the inquiry on Wednesday, Aged Care Guild chief executive Matthew Richter said his organisation, which represented a small group of care providers, was working on a system to offer consumers information about individual facilities including the type of care they provide as well as data on their performance.
It would also offer consumer feedback on the experience of residents and families who have dealt with specific centres and could provide a rating system on individual homes.
Mr Richter said it was hoped the system could be rolled out later this year.
“We’ve got to finish the prototype, test it and then determine what early data we might start to pick up from the ground,” he said.
“To get it operating as quickly as possible is our goal.”
On the issue of workforce pay and training, union group United Voice questioned the value placed on aged care work.
Executive Projects Coordinator Melissa Coad said low pay rates were compounded by the fact that most staff were employed part-time.
“So people really do struggle to amass enough money to live adequately,” she said.
Ms Coad said the question of pay, issues of training and ongoing education and high workloads would all affect the sector’s ability to attract enough staff into the future, amid predictions the aged care workforce would need to grow to one million by 2050.
“If wages and other working conditions don’t change we’re going to have significant problems in attracting people and retaining people to that workforce,” she said.
“The thing that our members tell me repeatedly is that they feel stressed in their work, pressured in their work.
“They don’t have enough time to do their job properly.”
The royal commission is investigating both the quality and safety of both residential and home care across the country.
It will sit in Adelaide for the rest of this week but also take evidence at further hearings planned for interstate capitals as well as regional centres.

30/01/2019

Quarterly state of the states economic report
January 30, 2019
Stuart Condie
(Australian Associated Press)

Victoria has retained its position as Australia’s top economy for a third straight quarter, although NSW’s consistency across the board means the state rivals are now sharing first place.
CommSec’s quarterly State of the States economic report, released on Tuesday, shows NSW ended Victoria’s six-month sole run at the top of the rankings despite not taking first place in any of the eight indicators.
Victoria ranked first in terms of economic growth, retail trade, unemployment and construction work done, but NSW was consistently strong across the board and was second-ranked on six indicators.
NSW was No.2 for economic growth, retail spending, equipment spending, construction work, dwelling starts and unemployment.
“In NSW, the trend unemployment rate of 4.3 per cent hasn’t been bettered in monthly records going back to 1978,” CommSec chief economist Craig James said.
Victoria overtook NSW in retail spending, but it also fell two places in the relative ranking on dwelling starts.
The ACT’s move from No.6 to No.1 in terms of dwelling starts helped it close the gap on the top two, which face challenges due to their weakening property markets.
Tasmania’s first place for relative population growth and second place for housing finance growth kept it in fourth place, followed by South Australia (No.5) and Queensland (No.6).
The Northern Territory and Western Australia switched places in the only other change to the rankings, the latter slipping to the bottom of the pile due to its worsening jobs market.
In fact, the NT lagged all other states and territories on six of eight indicators.
COMMSEC’S STATE OF THE STATES RANKINGS
(* previous quarterly rankings in brackets)
1= (1) VICTORIA
1= (2) NSW
Australia’s two most populous states benefit from solid population growth and strong job markets, which drive retail spending and business investment. Victoria ranked first on economic growth, retail trade, unemployment and construction work done, but NSW was consistently strong and was second-ranked on six of eight indicators.
3 (3) ACT
The ACT remained in the third spot but edged closer to Victoria and NSW thanks to its top ranking on housing finance and dwelling starts, as well as its second place on relative population growth
4 (4) TASMANIA
Tasmania ranked first on relative population growth as well as business investment and was second in terms of housing finance growth.
5 (5) SOUTH AUSTRALIA
South Australia was third on business investment and overall construction work done, but there was weakness elsewhere with a sixth placing on three indicators
6 (6) QUEENSLAND
The Sunshine State’s key area of strength was new dwelling starts, but it was sixth on unemployment and seventh on business investment.
7 (8) WESTERN AUSTRALIA
WA was seventh or eighth on all indicators except equipment spending, which has now been growing in annual terms for 18 months. WA placed sixth in that category.
8 (7) NORTHERN TERRITORY
The NT was third-ranked on economic growth but lagged all other states and territories on six of eight indicators.
(* previous quarterly rankings in brackets)

JV Financial Group

21/05/2020

04/04/2019

03/04/2019

09/03/2019

27/02/2019

27/02/2019

25/02/2019

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