Top Personal Finance Articles – March Round-up 2015

March round-up

Australia now has over $46 billion of credit card debt. While that may say something good about the economy, it’s still something you should take into consideration when it comes to personal finance. Check out our March round-up of the best articles we’ve read in the personal finance sector.

Ask Margaret: How Can I Use My House’s Equity To Finance My First Investment?

Margaret Lomas, best-selling author and founder of Destiny, answers this question for people looking to buy their first investment property. She points out the importance of understanding the differences which exist in every state in terms of how a property is transacted and the procedure for deposits (for example the deposit required and when it is paid is different in every state). She then gives a couple of tips of how you can approach your lender or get a deposit bond.
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How To Rebuild Your Finances After Draining Your Emergency Fund

An emergency fund can save your hide in times of unannounced trouble. But what do you do after you’ve spent this money? Kristin Wong of Lifehacker shares her experience of switching careers and moving to a new city, losing all her savings in the process. “For a long time, I felt vulnerable, desperate and unsure of what to do. But in a year or so, I rebuilt my emergency fund and became financially secure again,” she says. Her tips include creating an emergency budget and widening the gap between spending and earning.
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Take An Interest In Kids’ Savings But Beware Of The Traps

Teaching your kids how to manage money is a great way to ensure their financial security for years to come. Banks have been cutting interest rates on deposit accounts but many children’s savings accounts still offer high rates. While these accounts can be a good tool to develop good money habits, they can also bite.
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How Many Retirement Income Streams Can You Create?

Are two or even three retirement income streams enough? Not according to Kris Sayce of Money Morning. “If you act now, there’s still enough time to build an entirely separate source of income,” Kris says. According to him, you should have a Retirement Plan B, C, D and even E, F and G and he’ll share the tips on how to build those plans.
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Kris Sayce on Google+

7 Days, 7 Saving Strategies For A Happier You

Mozo (Australia’s Money Saving Zone) has come up with this 7-day happiness challenge that will help you keep your smile and your pockets heavier all throughout the week. Whether it’s cleaning out your drawers and cupboards and organising a garage sale or switching the gym with some good old-fashioned running, when you do the numbers you’ll see just how much you’re starting to save.
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