SLS Advisors March Newsletter

March 2018

2018 is already shaping up to be an interesting year. Thursday the 8th of March is International Women’s day – a time to celebrate the social, economic, cultural and political achievements of women around the world. The mark the occasion, we have decided to dedicate part of our March newsletter to women and financial planning and strategies are important at all life stages

We have also included some information about how we can help the next generation to be financially successful and avoid the debt spiral.

We look forward to hearing from you if you have any questions.

Life stage financial planning for women

At every life stage, from their 20s to their 60s and beyond, it’s vital for women to make specific financial plans and strategies thanks to their specific life and career patterns.

Despite a higher likelihood of career breaks and reduced hours of work, women can still actively and positively manage their own financial futures.

The best way to do this is by seeking advice, engaging with your finances and planning at every life stage. Here’s how.

20s

The start of your career is an excellent time to set up a regular savings discipline. Look at ways to top up your super tax-effectively, such as through salary sacrificing or making personal tax-deductible contributions. A little now can prevent you requiring greater financial sacrifice later on and can help to prepare you financially for potential career breaks. Also, check your super statements and understand what it is that you are investing in. Perhaps the default option in the fund won’t make… Read more

Teaching kids the secrets of financial success

In an increasingly digital world, the value of money can be a difficult concept for children to grasp. Here are some tips for helping your kids and grandkids become wealthy and wise.

When you were young, do you remember standing next to mum or dad at the corner shop and watching them count out notes and coins to pay for the bread and milk? This was a valuable lesson about the purpose and value of money.

Fast forward to today – few corner shops exist and the days of counting change are almost over. When our children see us pay for something at the shopping centre, it’s likely to be with a piece of plastic – or even by mobile phone.

That’s why it’s now more crucial than ever to consciously teach your children and grandchildren about money: how to spend it and how to save it. Here are five ways to do it.

1. Help them budget and save

Many children believe parents have an endless supply of money – which is why it’s so important to talk to… Read more

Help your kids avoid the debt spiral

If you’re a parent concerned about the spending habits of your son or daughter, you’re not alone. Here are some simple suggestions to help your loved ones take back control and stay out of debt.

When you’re young and living life to the full, it can be tempting to see your credit card as a bottomless well of money. And faced with higher living costs than previous generations – not to mention the lure of online shopping – many young people find themselves spending beyond their means on a regular basis.

This can leave them spiralling into debt before they even hit the age of 30. And once they’re caught in this trap, they might get stuck paying interest upon interest without even chipping away at the original debt.

But with some simple changes in their spending and saving habits, young people can move closer towards a debt-free future. Here are some top tips for the millennials in your life so they can avoid the debt spiral.

Tip 1. Spend wisely

… Read more

SLS Advisors

Ground floor,
35 Ventnor Avenue,
West Perth WA 6005
P 08 9322 1689
F 08 9322 7554
E admin@slsadvisors.com.au
W www.slsaccounting.com.au

Georgina Lee and SLS Advisors are authorised representatives of Count Financial. This document contains general advice. It does not take account of your objectives, financial situation or needs. You should consider talking to a financial adviser before making a financial decision. This document has been prepared by Count Financial Limited ABN 19 001 974 625, AFSL 227232 (Count) a wholly-owned, non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 123 123 124. Count Wealth Accountants® is the business name of Count. Information in this document is based on current regulatory requirements and laws, which may be subject to change. While care has been taken in the preparation of this document, no liability is accepted by Count Financial, its related entities, agents and employees for any loss arising from reliance on this document. Count Financial is registered with the Tax Practitioners Board as a Registered Tax (Financial) Adviser. However your authorised representative may not be a Registered Tax Agent. Consequently, tax considerations are general in nature and do not include an assessment of your overall tax position. You should seek tax advice from a Registered Tax Agent. If you do not wish to receive direct marketing material from your adviser, please notify your adviser by email, phone or in writing.