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

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

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