The chief of Australia’s peak superannuation body says people should not panic about the dive in global sharemarkets.
The Australian stock market suffered its worst one-day fall in more than 10 years yesterday, losing $96 billion on fears a US recession will hit global economic growth.
“It’s very important people don’t panic,” CEO of the Association of Superannuation Funds of Australia Pauline Vamos told local ABC Radio today. (more…)
Coming back to work after taking some time away disconnected from everyday updates is a challange. The getting reconnected is a greater challenge, especially for my eyes with the catch up reading I am doing. Susan Gosling’s comments which I have paraphrased later in this post below provide a good summary of the key implications I will be speaking with my clients about. (more…)
Now the festive season has passed and many of us still have the school holidays to get through, it is timely to post the next instalment from our budgeting series. It is a quick post that builds on previous budgeting posts. I trust not too many of you have blown the limits you may have set yourself for your recent festive season.
Australia’s current household savings ratio is now around negative 2.3%. Back in the 1960′s and 1970′s it was generally above 10%. How could this be so? How could a country enjoying unprecedented prosperity get itself so deeply into debt? It’s not making money that’s our problem. Australian’s are some of the hardest working people in the world – but we’re not so good at managing the money we make. In short we as a nation have a cashflow management problem.
This reinforces the need for budgeting and implementing an appropriate cashflow management system for you.
