Lloyd Hughes - Finance Specialist

31/12/2022

As 2022 comes to and end we can all look forward to a better 2023.

30/03/2021

THREE WAYS TO SURVIVE THE END OF JOBKEEPER
https://corporatemomentum.com.au/three-ways-to-survive-the-end-of-jobkeeper/

24/03/2021

THREE WAYS TO SURVIVE THE END OF JOBKEEPER

The COVID-19 crisis has caused an extraordinary amount of strain for the majority of South-East Queensland businesses. If JobKeeper is the only thing helping your business stay afloat, you’ll be anxiously awaiting the Government’s announcement on 23 July, and dreading the end of September. But i...

23/03/2021

A financial health check is a bit like going to the dentist – we never do it often enough. But I can guarantee this one will be far more painless than any stint in the dentist's chair. If you could quickly spot the gaps in your finances and put a few easy plans in place straight away that could save you thousands of dollars in a few years (or maybe even next week) would that sound like an exercise worth the time? Call me on 0400 700 214 and let's examine your finances.

With the Government's Job Keeper support now coming to an end, it may just be an opportune time to consider a health check and ensure you can still keep your financial goals without drowning.

Without significant new government financial support, many businesses that continue to be adversely impacted by COVID-19, particularly in the tourism, travel, wholesale and retail industries will come under renewed liquidity and employment pressure from April this year.

We anticipate that asset-light small to medium-sized businesses, with fewer funding options available, will be most affected. Solutions may be to permanently reduce employment, seek further concessions from suppliers, landlords and lenders, or take more drastic measures such as closure or insolvency. Such actions will have a knock-on effect, impacting employment, liquidity, and working capital through industry value chains and the broader economy. Businesses that are experiencing cash flow issues at this point may need to look at the business more broadly. It’s possible that underlying business issues were compounded by the COVID-19 crisis, magnifying and accelerating the impact of these issues for those businesses. If small businesses are likely to struggle to meet their overheads without JobKeeper, they should speak to me ASAP to ensure a positive future for your business.

22/03/2021

A financial health check is a bit like going to the dentist – we never do it often enough. But I can guarantee this one will be far more painless than any stint in the dentist's chair. If you could quickly spot the gaps in your finances and put a few easy plans in place straight away that could save you thousands of dollars in a few years (or maybe even next week) would that sound like an exercise worth the time? Call me on 0400 700 214 and let's examine your finances.

17/12/2020

Merry Christmas to you all.

07/10/2020

Predictions are that Australia could be a cashless society within 2 years, following the Sweden example. With COVID, we have accepted, even embraced, the use of cards in preference to cash for payment. The Reserve Bank of Australia has already mooted that cash will become a ‘niche’ payment with limits of $10,000 for any cash payment being considered by the Government. There are many questions about surveillance and who may have access to these data trails but it will cut out some of the black market currency yet add challenges to the vulnerable - elderly, disabled and other marginalised persons without computer access.

With ongoing regulatory changes impacting how lenders have assessed borrowers over the last few years, there’s been another issue bubbling away beneath the surface, which many people haven’t factored in: the impact on borrowers’ privacy.

Paying by card has become the norm. Online shopping and hand-held apps that can get us places and serve us meals at the tap of a screen have taken us to the point where few of us spend with cash - how much cash would you have in your wallet?

However, such transparent account activity in a tightened lending climate begs the question: is the make-up of your monthly bank statement impacting your chances of being approved for a home loan? Your spending habits are there on your statement to reveal everything, your spending behaviour is verified in an instant. Whilst I'm sure the banks are not fussed if you are wine drinker or rather a boutique beer, or if you have KFC for dinner, quite frankly they actually don't care. What they care about is how much money is going into your account and how much is going out. Your management of credit cards depends on your goals and whether you are already comfortable enough with the serviceability of any borrowings.

Debt is still a good thing if you can service it properly as it will lead to better things in life.

24/03/2020

Do you need a financial check-up?
Many of us are working from home and spending more of our free time at home too, take advantage of this time to sit down and examine your finances. What are your goals? Are you on track to reach them? What do these economic changes mean for you?
Some people will be looking into financial uncertainty. I am available to assist you in managing this. I want to ensure you understand your redraw facilities, offset accounts, your rights in regard to mortgage 'repayment holidays', applying for financial hardship with your bank, and how you might take advantage of the RBA rate cut. Reach out and book a video or phone call with me this week.

05/11/2019

The Reserve Bank of Australia (RBA) has left the official cash rate at the record low of 0.75% for November. Good times never last with these low, low rates.