It’s time to celebrate!

Have you made plans for Australia Day? If you managed to get Friday off work, you’re in for a mighty long weekend!

FYI: Australia Day is on Thursday the 26th of January.

It’s the one day where you can get away with applying a yellow and green zinc combo to your face, wear more merchandise than clothing and feel immense amounts of patriotism when your friends spend the entire day in an inflatable pool.

To kick start your Australia Day spirit, I’ve collected 24 facts that will trigger a few patriotic butterflies in your stomach.

You know you’re Australian when…

1. You believe that stubbies can be either drunk or worn.
2. You can translate: “Dazza and Shazza played Acca Dacca on the way to Maccas”.
3. You understand that “excuse me” can sound rude, while “scuse me” is always polite.
4. You still don’t get why the “Labor” in “Australian Labor Party” is not spelt with a “u”.
5. You believe, as an article of faith, that the confectionery known as the Wagon Wheel has become smaller with every passing year.
6. You know that thongs are not underwear and you wear them all year round , hot or cold, rain or shine.
7. You know what togs are and you wear them all year round, even when you’re not going for a swim.
8. You think “Woolloomooloo” is a perfectly reasonable name for a place.
9. When returning home from overseas, you expect to be brutally strip-searched by Customs – just in case you’re trying to sneak in fruit.
10. You get choked up with emotion by the first verse of the national anthem and then have trouble remembering the second.
11. You know what a goon bag is and you know it can double up as a pillow.
12. You pronounce Melbourne as “Mel-bin”.
13. Your right arm is darker than your left from driving in the sun.
14. You know everyone working at Whistler.
15. You went to Canberra to see the war memorial as a school excursion.
16. When it rains – it pours.
17. You remember 30c cones from McDonalds and used to buy them every day driving home from school.
18. You would never ever dream of drinking Fosters.
19. You see a cop car and flash your lights to warn others.
20. You sleep with Aeroguard on.
21. An eight-hour trip to go camping for the weekend isn’t out of the question or excessive.
22. Public holidays. Say no more.
23. You feel obliged to spread salty black stuff that looks like congealed motor oil on bread and actually grow to like it.
24. You say ‘no worries’ quite often, whether you realise it or not.

Australia Day Events – what’s on in your state?

QLD

Australia Day Festival

Time: 10am
What to expect: South Bank will come alive with colour, sound and movement as some of Queensland’s most talented performers and community groups entertain audiences throughout the day. Be there to enjoy live music, a vibrant stage program and creative, hands-on activities.
Venue: The Parklands, South Bank
Cost: Free
More info

AusSounds Concert

Time: 5pm – 7:30pm
What to expect: A live outdoor concert along the banks of the Brisbane River followed by a spectacular fireworks display.
Venue: The Parklands, South Bank
Cost: Free
More info

Cazalys Cairns, Great Aussie Meat Pie Challenge

Time: 12pm – 5pm
What to expect: Aussie meat pie challenge with $1000 prize money, live bands, live broadcast with Baz & Pacey from SE FM, kids activities, jumping castle, face painting and flip the clown.
Venue: Cazalys, Cairns
Cost: Free
More info

NSW

Darling Harbour Australia Day Spectacular and Fireworks

Time: 7pm – 9pm
What to expect: Addresses from the NSW Premier and the Governor, boat parades, a Water Police rescue, a breathtaking symphony of light, sound, music and fireworks.
Venue: Cockle Bay, Darling Harbour
Cost: Free
More info

Sydney Ports Jazz on the Water Concert

Time: 3pm – 9pm
What to expect: Pack a picnic, bring your mates and enjoy refreshments and a licensed bar from 3.00pm onwards. Winners of the Best Dressed Vessels competition will be announced during the event.
Venue: Pirrama Point Park and Johnstons Bay
Cost: Free
More info

Australia Day Big Breakfast at Dee Why

Time: 7am – 11am
What to expect: Big Breakfast including bacon/sausage and egg rolls, pancakes with maple syrup/lemon and sugar. Your local Manly thong throwing competition. Rides and activities (gold coin donation). Official ceremonies and flag raising 9am. Live music on stage. Kids’ activities.
Venue: Ted Jackson Reserve, Dee Why Beach
Cost: Free
More info

Australia Day Festa

Time: 11am – 4pm
What to expect: Kids carnival rides, pony rides, animal farm, face painting, BBQ, entertainment, meet & Greet ‘Blinky Bill’ and food stalls.
Venue: Club Marconi
Cost: Free
More info

ACT

Australia Celebrates Live

Time: 7pm – 10pm (25th of January)
What to expect: Australian Of The Year Awards announced, then at 8:00pm the Australia Celebrates Live Concert begins. This year’s lineup including Sneaky Sound System.
Venue: Federation Mall, Canberra
Cost: Free
More info

Australia Day Carillon Recital

Time: 12:30pm – 1:10pm
What to expect: Enjoy a musical celebration of Australia Day at the National Carillon. Bring a picnic and enjoy Australia Day on the shores of Lake Burley Griffin.
Venue: National Carillon
Cost: Free
More info

Chief Minister’s Regatta

Time: 2pm – 8pm
What to expect: This is one of the largest regattas held in Canberra with over 100 boats taking place
Venue: Canberra Yacht Club, Lake Burley Griffin
Cost: Free
More info

Off the Walls: Art from Aboriginal and Torres Strait Islander Affairs Agencies 1967-2005

Time: 9am – 5pm
What to expect: This exhibition takes you into the world of indigenous art, and the politics and history of a time of great change.
Venue: National Museum of Australia, Acton Peninsula
Cost: Free
More info

VIC

7th Annual Havaianas Challenge

Time: 7am – 7pm
What to expect: Be a part of a sand-sational day of flip-flopping around in the water, lapping up the beautiful Australian sunshine. Last year’s champions in WA are ready to defend their title and fight for consecutive victory.
Venue: Torquay Beach and Australian beaches nationwide
Cost: $30 ($20 online)
More info

RACV Big Brekkie

Time: 8am – 10am
What to expect: Enjoy food from a diversity of cultures, while being entertained by acclaimed singer and songwriter Richard Franklin and the Charcoal Club.
Venue: Alexandra Gardens, Melbourne
Cost: free
More info

Australia Day Big Breakfast

Time: 9am
What to expect: The Laverton Community Choir will perform a selection of Australian songs. Councilor Bob Fairclough will present the local “Citizen of the year” awards including a special Junior Citizen award.
Venue: Laverton Point Cook
Cost: free
More info

Australia Day Eve Comedy Debate

Time: 8pm – 9pm
What to expect: Start off Australia Day celebrations with some madness and irreverence from Des Dowling, Heath Franklin, Hannah Gadsby, Hung Le, Aleisha McCormack and Terri Psiakis.
Venue: BMW Edge, Federation Square
Cost: free
More info

SA

Australia Day in the City

Time: 6pm – 10pm
What to expect: Fireworks, concert & parade.
Venue: Elder Park
Cost: Free
More info

Wombat Australia Day

Time: 2pm – 5pm
What to expect: Award winning book ‘Hairy Nose, Itchy Butt’ will be launched on the day and the City Jazzmen will be playing along with a charity BBQ from Rotary Edge.
Venue: Greenhill Galleries, Adelaide
Cost: Free
More info

Campbelltown Australia Day Celebrations

Time: 10am
What to expect: A free family fun day with food, face painting, children’s activities, sit back and enjoy the Campbelltown city band, also the presentation of Campbelltown’s citizen of the year and young citizen of the year.
Venue: Campbelltown Council Office Green
Cost: Free
More info

WA

Australia Day Lunch

Time: 12pm – 2:30pm
What to expect: Australia Post will announce its Legends Series of Stamps which will feature living legends from the four football codes – Rugby, Australian Rules, Rugby League and Soccer and His Excellency The Governor of Western Australia will make his inaugural Australia Day Address.
Venue: Government House Ballroom
Cost: $125 for a seat
More info

Fellowship of First Fleeters Swan River Chapter

Time: 11am
What to expect: Family Picnic to be held
Venue: Charles Paterson Park, Burswood
Cost: Free
More info

Freemantle’s Australia Day Celebrations

Time: 4pm – 8pm
What to expect: A free sausage sizzle and entertainment including Captain Cleanup, face painting, art markets and giant bubbles.
Venue: Freemantle Esplanade Reserve
Cost: Free
More info

Indian Ocean Sky Show

Time: 8pm – 10pm
What to expect: A skyshow extravaganza
Venue: Bathers Bay
Cost: Free
More info

TAS

Australia Day Breakfast on the Bellerive Boardwalk

Time: 8:30am – 12pm
What to expect: A delicious budget breakfast provided by the Lions Club of Clarence accompanied by great musical entertainment by reggae outfit, Trumps.
Venue: Bellerive Boardwalk
Cost: Free
More info

Australia Day Fiesta

Time: 4pm – 8pm
What to expect: An evening of live music, Australia Day Awards, new citizens, dance and family entertainment at the new Bluff Precinct.
Venue: Mersey Bluff, Devonport
Cost: Free
More info

Australia Day Picnic by the Leven

Time: 4pm – 8pm
What to expect: A family picnic at Anzac Park, Ulverstone, on the banks of the Leven River, incorporating the official ceremony followed by family activities and live entertainment.
Venue: Anzac Park, Ulverstone
Cost: Free
More info

NT

Pine Creek Australia Day Traditional

Time: 12pm – 5pm
What to expect: An afternoon of fun and games including flag raising, national anthem, sausage and lamb chop sizzle, kids games, Australiana Quiz and light family entertainment.
Venue: Miners Park, Main Tce
Cost: Free
More info

Australia Day at Howard Springs Reserve

Time: 12pm – 4pm
What to expect: Free family day including Cricket, pie eating, boule, speed scrabble, corn hole – lots of prizes – free food and soft drink.
Venue: Howard Springs Reserve
Cost: Free
More info

OzFusion

Time: 4pm – 8pm
What to expect: An exciting blend of multicultural performances and activities in the cool of the Cypriot Club.
Venue: Cyprus Community Centre
Cost: Free
More info

Australia Day Fun Walk/Run at the Esplanade

Time: 7am – 12pm
What to expect: A healthy way to start the day with a 2km or 4.5km walk or run.
Venue: Esplanade, Darwin
Cost: Free
More info

Want to do your own thing? Activity ideas…

• Thong throwing
• Sack races
• Sao, lamington or meat pie eating competition
• Sausage sizzle
• Pavlova making competition
• Egg and spoon race

More ideas

Interested in Australian of the Year awards? Click here.

Don’t forget to tune into the Triple J Hottest 100!

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I’m in the bakery section of the supermarket. Shopping for Christmas food can be overwhelming. What do you need and what don’t you need? Out of what you do need, which brand is the best? Will your guests know if you buy the cheapest brand?

Method

Next, I sliced each cake into small, bite-sized pieces. While they were at varying levels of crumbliness, I found Brand X to be the most moist and hardest to work with.  Brand Y was tough to cut through but presented well.

Cake Specs

Results

Before long the cakes were exhausted. They put everything they had into peoples’ mouths and had nothing more to give. Who won the battle? In reverse order….

In 4th place we had Brand X: Coles Dark Fruit Cake. This little guy wasn’t well received. Many participants screwed their faces up in disgust and others simply couldn’t finish their mouthful. Poor guy.

In 3rd place was Ernest Adams’ Double Iced Christmas Cake. Unfortunately he didn’t present any unique strengths – the icing wasn’t as good as Brand W and the cake wasn’t as good as Brand Z.

Managing to pip Ernest at the line was Big Sister’s ‘Rich Fruit Cake’. She put in a good fight.

And the winner was…

Mr. Kipling! He took the cake for being the tastiest.

Score board:

So you’re in the market for a new car?  No matter what make or model you prefer there are some general rules that may increase the resale of the vehicle when you decide to move on. Although people tend to buy a car based on style and comfort preferences, it is worth remembering that cars are a depreciating asset and you should always look at maximising future resale value. Decisions such as model, optional accessories, transmission type and even basic choices such as colour and model, can impact the resale price later on.

Colour Choice

The main colours to avoid are white, beige and red.   Whilst these colours may be popular at the time of initial purchase, you should consider its implications on resale value. For example white is a common colour choice for corporate fleets, and as such there is an oversupply in the market 3-5 years later when a typical fleet is changed over.  Although you may save money initially by avoiding the additional charge for metallic paint/pearlescent paint, this is a cost you would normally be able to recoup upon resale by choosing a light metallic/pearlescent colour.  Similarly, beige generally has the least demand at resale and is probably the worst colour to choose.  Red is a good colour for sports cars but in most other vehicles it tends to get stuck in dealer stock as a result of the lack in demand.

Although black and darker colours have an acceptable resale value, they have the downside of a tendency to show scratches and dirt more prominently.  If you don’t have bushes in your driveway then it may not be too much of a concern but just beware of places such as the supermarket car parks where scratches seem to appear out of nowhere.

So what colour should you choose for your new car? Light colours often have the best resale value as scratches and damage are less pronounced and they generally have a wider appeal to the general car market.  They have the added benefit of improving occupational health and safety as they have a higher visibility on the road.

Which Model?

Within each make and model of vehicle there is a choice between the base model, mid range models and the top of the range models.  Depending on the size of the vehicle there are different guides.

For large vehicles it is best to avoid the base model and the top of the range model, as these do not hold their value as well as the mid range models.  Base models are common fleet vehicles and as such there is often a greater supply than demand which reduces its value.  One or two models above the base will generally give you an optimum resale value.

Small and medium vehicles should be viewed differently as these are always in demand for first time drivers and those concerned with increasing fuel prices, and generally these vehicles depreciate the least.   The base model or the one above tends to give the best resale result.

Manual or Automatic?

Unless you are purchasing a utility or sports vehicle it is best to get an automatic transmission. Although you will save money on the outset when buying manual transmission, when it comes to reselling the vehicle you will lose more than the original cost of automatic transmission due to lesser demand for manual transmission cars in the general market.

Accessories

When purchasing your car you will be offered a number of extra accessories, and many people believe that the cost of these accessories will be recouped at resale. Unfortunately most accessories, even major accessories such as leather interior, will generally depreciate 100% on resale.

Used car buyers generally compare the price before anything else and may not always look at the specifications to find out why your vehicle is more expensive.  Generally you should anticipate that accessories and on-road costs (eg. stamp duty and registration) will depreciate completely on resale.

Finally before you sign a vehicle order/contract for sale, you should investigate your available finance options. If you qualify for salary packaging or a novated lease, you may be able to finance your new vehicle with pre-tax income, thereby allowing you to achieve income tax savings from the purchase of your new car.

By Ryan O’Connor, Founder Saving Money Expert

Garage sales are a great way to make a bit of extra money.

What I didn’t realise is how many cool ideas you could implement to jazz it up. It may start off as a blank canvas, but with a little effort you’ll have a Mona Lisa on your hands in no time.

If you’re ready to make some easy money, get down to business and start putting together your garage sale business plan. Here’s mine…

1.0 The opportunity

To acquire products at no cost and sell them at a profit.

This is not only an environmentally friendly initiative (recycling all your possessions) but also an opportunity to have some fun!

1.1 Mission

Make a profit off my old belongings in a fun and friendly atmosphere.

1.2 Keys To Success

Visually appealing
Well promoted
Organised layout
Friendly environment
Effective sales strategy

2.0 Company overview

Give your garage sale a name. Use buzz words like ‘retro’, ‘antique’, ‘vintage’, ‘jewelery’ and ‘china’. Include your own name in the title too, then customers can put a name to a face when they arrive – it will make the stall more approachable.

Register your business as an ‘event’ on Facebook.

2.1 Start-up requirements

It’s good to set a date for your garage sale a month from when you start planning. Start collecting plastic bags (or ‘enviro’ bags) and newspapers leading up to your sale. You’ll need them for packaging. Below is a list of things to do in the lead up to your big day:

• Raid your house for things you want to sell – be brutal. Do this once a week.
• Ask your friends and family to fill a box of things to give you (provide them with a cardboard box to fill for a higher response rate).
• Source your equipment – tables to set up on, chairs to sit on, fanny pack (or money box).
• Clean all your items a few days before.

3.0 Products

Once you have your collection of goods to sell, categories them. A typical stall layout will be:

1. Clothes
2. Electrical
3. Entertainment
4. Decorations
5. Furniture
6. Miscellaneous

Make sure all your items are clean and clothes have been washed. Vintage and retro clothes are all the rage at the moment. If you’re in Brisbane this weekend, check out Undress Brisbane.

You also want to think about how you will label and package your items. An easy way to manage the prices is using a colour coded system explained in 6.1 Presentation Strategy.

4.0 Target Market

Identify your market. Are you selling old retro clothes? Have you got a collection of kids toys to get rid of? Is your old china collection up for sale? Figure out who your stall is best suited to – this will make your marketing efforts more effective.

You can also tailor your stall to suit the target market. For example, if you expect a lot of younger people, play some ‘young’ beats. If you expect a lot of mothers, set up a children’s play area.

5.0 Competitor Analysis

Your competitors are often your allies when it comes to garage sales. Rally up your neighbours. People are more likely to attend a garage sale if there are another two in that street.

To gain a competitive edge on your neighbours you can:

• Play music
• Have a sausage sizzle
• Create buzz by bringing along friends to help out
• Keep your prices low and clearly marked
• Make sure you have a power board hooked up to a power source so that your customers can test out any electrical appliances.
• Parking: If you have allowed room for parking and sign-posted it, people are more likely to park next to your stall.

Another way to get friends and family on board is to ask them to fill a box of things to sell – and take a commission of what’s sold. They may be more willing to trawl through the junk under their house if they can take a cut of the profit. You could offer them 20%-40% of the profits – depending on what you think is fair.

6.0 Marketing Strategy

When you set the date of your garage sale, start by listing it online. Check these out:

• What Garage Sale http://whatgaragesale.com.au/
• Garage Sales http://www.garagesales.com.au/
• eGarage Sales http://www.egaragesales.com.au/
• Gumtree http://www.gumtree.com.au

Your poster is the next project. Here’s a good example of one:

You can also download a basic template from here. [http://office.microsoft.com/en-us/templates/CT010104299.aspx#ai:TC006090382|]

Put your poster up 1 week out from your garage sale. The poster needs to clearly communicate what it is, when it is and where it is. Then you can add some of the ‘featured’ items that will be at your stall.

Be specific about the start and finish time. Bargain hunters are often up early so if you make it a morning thing it will create a sense of urgency.

Some locations to target:

• Your local shopping centre
• Corner shops in the nearby area
• High traffic areas on sign post
• Get some long pieces of wood and hammer them into grassy areas at busy intersections in your area.
• Put a sign in your front yard for any locals that might be keen to check out your sale.

Aim to put up 10 posters and keep them within 5-10km of your house.

Place an ad in the local paper – it’s usually free!

Print out 20 post card sized posters and do a letterbox drop in your street.

Create a Facebook event.

For a more authentic look, hand-write your sign. It will give it that second-hand look.

6.1 Presentation Strategy

A well presented garage sale is like a well presented cake, irresistible. Key presentation elements:

• Set up on tables (not the ground) – people don’t like to bend down.
• Make sure all clothes have their sizes marked.
• Provide a source of power to test out different appliances.
• Play music for a groovy atmosphere.
• Clearly mark each items using the colour coding system. You can purchase coloured stickers from Woolworths or Coles. Then simply come up with a price range for your items and price accordingly.

Packaging is an important part of the sale. Provide newspaper to wrap breakables and plastic bags for your customers to use. Set up a ‘packaging’ table and put some cheap, last-minute buys in a basket on the table. Even just some chocolates. They may grab one or two in an impulse buy.

Providing food and drink is a clever way to make a little extra money. A sausage and drink can go a long way.

Set any toys up in the children’s play area (marked with their price sticker) so that parents aren’t being nagged while browsing – and they might end up buying a toy.

6.2 Sales & Pricing Strategy

Here are the top 5 tips for selling at a garage sale:

1. Expect to haggle. Set your prices a tad higher than you expect to get to allow room for haggling.
2. Check out prices on Ebay to get an idea of what you can sell things for. Usually you can sell items at 25-35% of what they cost when new.
3. Make sure you have enough change – and the appropriate coins/notes.
4. Bundle smaller items together -
5. Don’t bad mouth any of your items. This one may seem obvious, but you may find yourself slip out with “oh I’ve never known what to do with that one” or “that one always seems to be in my way”.

7.0 Human Resource Plan

Get your friends on board! See if they can duck in for an hour or two and help out. Remember to feed them!

8.0 Financial Plan

Money rule #1: Keep the money on you.
Money rule #2: Keep a record of all your items and mark down what they sold for – this is important if you are taking commissions.
Money rule #3: Don’t go overboard with buying food and drink – depending on how well you market your garage sale you can expect between 10 and 30 people to come.
Money rule #4: Lock your house – you never know what people’s intentions are.

Good luck with your garage sale. I’ve heard of someone making over $1000 on a weekend!

Money can be a tricky topic to discuss – let alone with kids.

I spent a few days researching the topic and gathered some interesting ideas.

If you’ve tried out any of the ideas below or have any questions on the topic, I invite you to comment at the end.

Teaching your kids how to have a healthy relationship with their finances is just as important as teaching them how to eat healthily and stay active. Teaching your kids to brush their teeth, not to eat too many lollies, to use their manners and not pick their nose are obvious. When it comes to forming good habits on the subject of money, it’s not quite so clear.

Here are a few of the ideas I found…

When to start?

The sooner the better is often the way to go. Some of the basics to start with are:

• What is money?
• How do you get money?
• What is it used for?

Introduce them to the different coins and notes – even the green one we may rarely see.

When they are young it’s not about sitting them down and lecturing them on ‘money’. Try to discuss money as it comes up in their day-to-day life. It’s not healthy to always talk about money, but also not healthy to ignore the subject completely. Find a happy medium.

As you know, trying to get them to listen when they are teenagers would prove impossible. They’re busy doing things like… spending money!

The low down on pocket money.

“Sarah gets $20 a week, why can’t I get $20 a week? And Sarah doesn’t even have to keep her room clean!”

The easy way to do the pocket money thing is to pay Sarah $20 for helping around the house, keeping her room clean, making her bed, feeding the pets etc. Is it ideal though?

Maybe not.

Firstly, Sarah may assume that she doesn’t have to do anything unless she’ll be remunerated for it. Also, turning household chores into a commercial transaction won’t show her what it is like to be a part of a healthy functioning family (where chores are done because they respect others in their family).

Have you tried separating household chores from pocket money?

Some ideas you could give pocket money for:

• Washing the car
• Mowing the lawn
• Cleaning windows
• Cleaning the pool
• Gardening
• Babysitting

Depending on their age, choose something that goes beyond basic household chores. If they are quite young it may just be ‘assisting’ you with the above list.

Once you’ve established what the pocket money will be exchanged for, you can go on to decide how much to give them. It may depend on 3 things.

1. How much their friends get – make sure they are somewhere in the middle. Not the poorest, not the richest.
2. What you want them to use it for – lunches, toys, entertainment, bus money, clothes etc.
3. What your own budget allows – if you can only afford $10 a week, that’s probably okay.

Last but not least. Do you give pocket money in cash? Even better, is it in small denominations? (For example 4 x $5 notes) Giving cash creates a tangible element for kids. Sometimes it’s easier to digest the concepts when you can handle the money. You could consider keeping the bank account for depositing birthday money.

Here’s an idea: Give them 3 jars (or containers of some kind) to keep their money in. One is for saving, one for spending and one for charity. This will help to build healthy habits.

The 3 jars.

If you can teach your kids to separate money into clever categories, it will make life so much easier on them down the track. When they receive their pocket money (in small denominations) they can separate it into the 3 jars. It will teach them the difference between needs and wants.

The first jar is for savings. If there is something that your child wants, encourage them to save for it.

The second is for spending. Anything that you expect them to pay for with their pocket money should be covered by the spending jar (bus money, lunch money, entertainment). It is also good to teach them how to spend their money wisely.

The third jar, the charity jar, does not have to receive as much as the other two but it is good to create some awareness for charity early on.

If you really want to go the extra mile you can get a 4th jar for ‘investing’. It’s valuable to teach your kids how they can grow their money.

Is charity important this early on?

If charities are something your family values it might be an idea to let your children choose one to support. Encourage them to pick a local one so they can visit and help out with the charity too. It’s often said that buying a gift for someone else can bring you more satisfaction than buying it for yourself. Teach them the value of giving.

Good things to say and not-so-good things to say.

You’re bound to go through good patches and bad when it comes to your finances. You may feel like you’re on a roller-coaster ride. Should you invite your children along?

Maybe not.

Experts say not to put your own financial stress onto your children. Try and keep their environment stable. It can be tough at times if you’re really putting the spending brakes on. The best way to explain financial stress is to put a positive spin on it. For example:

Not so good: “We’re on a tight budget because I can’t afford the power bill”.
Good: “We’re going to try extra hard to increase our savings this month”.

Be conscious of what you say when you’re going through a tough time. It shouldn’t be a weight on your children’s shoulders – it’s not their fault. Do they see you argue about money? Do they hear you speaking badly of rich people? Do they see you fret when money is scarce? They’ll take it all in and form their own opinions of money so try and be rational, even at the worst of times.

Think about not spoilling them when times are good. Just because you’ve got a bit of extra cash doesn’t mean you should go and buy them the toy they’ve been saving for all month. Sure take them on a holiday or out to dinner, but keep any distractions away from their 3 jars.

Activities to do to build financial literacy:

• Take them to the bank and open a savings account in their name
• Talk them through how a credit card works
• Show them ways to have fun without spending money
• Crafternoons (Craft afternoons)
• Baking
• Build something outside
• Puzzles
• Skipping and bike riding
• Play football in the park
• Play dress ups
• Make a home video
• Take them grocery shopping and let them do pick the items off the shelves, discuss their purchase decisions in a positive light (and offer some helpful advice)
• Create a budget with a savings goal
• Up-cycle mum and dad’s clothes from the 60s to suit the current fashion
• Hold a garage sale
• Make a lemonade stand

Watch out for advertising

Teach your children about the purpose of advertising. Point out techniques that companies use to make you feel like you need something. You could even do a taste test with three different brands; home brand, mid market brand and a fancy option.

Lead by example

Do your children a favour and follow your own advice. It would be terribly confusing if you encouraged them to buy ‘Black and Gold’ baked beans but always reach for the ‘Heinz’ can.

Going above and beyond

Can your child draw a basic model of a business with a crayon? Does he understand the purpose of a budget? Can she understand the concept of investing? If your children have shown some interest in money, consider introducing them to basic business and investment concepts. For example:

“If you want this $10 note to become $11 (all by itself), it’s possible. If you lend this $10 to the bank, it will give you an extra $1 when it gives it back to you to say ‘thanks for letting me borrow your $10’.”

Drowning in bills is never fun.

It can be a vicious cycle, too.

Bill arrives. Late notice. Late fees. You’re in a stressful mess. Next bill arrives. Freak out. Next bill. Nervous breakdown… and so on.

How do you snap out of it?

Is the thought of parting with your hard earned money so painful that you find yourself pushing bills aside every week? Sometimes it’s hard to palm off a part of your paycheck to some big corporation. The longer you put off your bills though, the more stress you are under, the more stress you are under, the more you want to put off your bills.

Are you a procrastinator? If you are, you’re not alone – 20% of Australians identify themselves as chronic procrastinators [Source: Psychology Today]. It’s easy to stick your head in the sand. Most of the time, though, when you pull it back out, you’ll be in the middle of a terrible storm.

Financial ignorance is (not) bliss.

Optimists are often guilty of ignoring their sticky money situations. They don’t see the worst case scenario and therefore can end up in a bit of a fiasco.

One of the main causes of falling into a financial-ignorance-is-bliss cycle is an unhealthy relationship with your financial-self. Think of it this way: You have a social-self, an emotional-self and a physical-self… but you also have a financial-self. It’s another area of ‘you’ that deserves as much attention as your manners and eating healthily.

If ‘Pay my overdue bills’ is far down on your to-do list, it may be a sign that you don’t have a particularly honest relationship with your financial-self.

It’s time to find financial peace of mind.

Tackle that stack of unopened bills on the kitchen counter, today. If you know you’re in a bit of a pickle but can’t seem to find the motivation to step up and conquer it, here’s an exercise.

Open up your email and compose a new message. Write down the #1 challenge you’ll face to get on track financially. Imagine how your life will be different once you overcome this #1 challenge. Now write down 3 things that will help you conquer this challenge. For example:

• Open my bills and stick them on the fridge as soon as I receive them
• Check my account balance once a day
• Write a list of bills I have – that are due
• Call up my bill companies and ask how often bills are sent and when I can expect the next one
• Create a budget (you can also call it a money plan if ‘budget’ doesn’t sit well with you)
• Put an hour aside to read about personal finance online
• I don’t recommend buying a book because there are so many good resources online but if that’s something that will get you motivated, do that.

Now send it to a friend or family member. You’ve just set yourself a goal and now someone else knows about it – now show them you can do anything you put your mind to.

It’s important to be honest with yourself.

That uneasy feeling at the back of your mind (“Ugh, so many bills, ugh they never stop… I’ll sort them out another day”) can be eliminated by realising that you’ve been ignoring your finances but are now tackling them head on.

If your inconsistent cash flow is causing you to choke and give up, here are 8 ways to smooth it out.

1. List your debts from smallest to largest. Start from the top and pay off each item (cross off each debt when you pay it off for extra satisfaction). If you’ve just put a big bill to rest, celebrate! Bake a debt-free cake…

2. Phone a friend. Telling a friend about your finance goals is a good way to stay motivated. Talk through what challenges you’re facing and how you plan to overcome them. The more people that know about your money goals (you don’t have to reveal sensitive information), the more reminders you’ll get to stay on track.

3. Think about your finances a little bit everyday. Increasing your financial literacy is a great way to show commitment to your financial-self. An easy way to do this is by subscribing to a finance blog – most will then email you an article once a day. Here are some blogs worthy of a mention:

1. LearnVest
2. Zen Habits
3. Nev Blog
4. MoneySmart
5. Get Rich Slowly
6. 20s Monday
7. Moolanomy

Even try logging into your online banking once a day and see where you stand – this will help your mind get comfortable with the ‘f’ word. Another idea is to download a budget application to your mobile phone. There are some excellent apps that will keep track of your spending and help you stay motivated.

4. Automate your money. Set up your online banking so that (at least) $100 is automatically transferred into your savings account on payday. Try and put 10% of you pay into savings each payday. If you can set up automatic bill payments (ie your mobile phone bill and rent), do that too.

(Source: LearnVest]

5. Use cash envelopes. Once you’ve been paid, allocate an amount of money for general expenses (groceries, petrol, treats). Then withdraw it. Split the money up into weekly allowances and pop them into separate envelopes. Using cash to pay for your expenses is a great way to stay connected to your spending. No one likes surprises when they come in the form of a “Declined” at the check-out counter. Ouch.

6. Keep a 30-day list. If you see something you want, write it down with the date next to it. Keep adding to the list but don’t let yourself purchase an item until 30 days have elapsed since it entered the list. It’s like ‘sleeping on it’ but a more hardcore version.

7. Save up for a financial safety net. This will take a lot of pressure off down the track. Imagine a bust car battery that you can’t afford to replace straight away – because you don’t get paid for another 2 weeks. How are you going to get to work for the next 2 weeks? Thank goodness for a safety net – bust car batteries aren’t that uncommon.

8. Finally, don’t commit to anymore debt. Put the credit card application away. First things first. Get yourself on track, then look into what debts you can take on. For now, you’re on a debt diet.

“A bank is a place where they lend you an umbrella in fair weather and ask for it back the when it begins to rain.” –  Robert Frost

You will feel such relief once you have a healthy relationship with your financial-self.

Go for it!

P.S. An interesting article on the champagne debt…. 73% of Australians (18-24) are in ‘Champagne debt’. They are living above their means so they can drink champagne and rub shoulders with the ‘glitterati’.

It was tough.

Injecting juicy facts into a topic on ‘Health insurance’ wasn’t easy. It would have been much easier to spice up a ‘Should you sleep with your boss?’ blog. But I think you’ll get a lot more out of this one.

So, what’s there to know about health insurance?

17 things.

1. Medicare is something the Government provides. It’s free. You just have to be one of the following:

• An Australian citizen
• Have a permanent visa
• A New Zealand citizen
• Have applied for a permanent visa (this one has a bunch of conditions)

2. What does Medicare do for you? It gives you access to low-cost health care. For example if you are expecting a baby you can go to the hospital (a public one), for free. If you are sick, you can go to a bulk billing doctor for free. If you need to be seen by a specialist, optometrist or dentist, certain services are free – or subsidised.

3. Facts you may not have known. Medicare oversees a few separate initiatives:

1. Pharmaceutical Benefits Scheme – subsidises prescription drugs.
2. Australian Childhood Immunisation Register – records vaccinations given to children under 7.
3. Australian Organ Donor Register – keeps records of the organs and tissue you donate.
4. National Bowel Cancer Screening Program – bowel screening for people turning 50, 55 and 65 years of age.
5. External Breast Prostheses Reimbursement Program – assists you if you’ve had a breast removed because of cancer.
6. Continence Aids Payment Scheme – annual payment to assist Aids sufferers with purchasing medication.
7. Medicare Teen Dental Plan – assists families with dental costs for 12-17 year olds.

4. What about the private one? Private health insurance is something you pay for. There are many levels of cover for private health insurance and you can choose to get hospital cover and/or extras. A basic cover is around $50 per month (for singles) and goes something like this:

• Private hospital admission
• Ambulance cover
• Heart surgery and rehabilitation cover

The upper end is around $170 per month (for singles) and will guarantee you top care:

• Private hospital admission
• Pregnancy, IVF and birth cover
• Most major surgery
• Major and general dental cover
• Various therapies
• Home nursing
• Natural remedies and many more premium services

5. Why get private health care? To have a choice of what doctor and what hospital you go to – also shorter waiting periods for hospitalisation. Did you know that if you get an ambulance without private health insurance it may cost you up to $12000? Private health insurance can provide ambulance cover. There are a number of additional covers available but, depending on the level, it’s usually full of all sorts of treats.

6. Pay less tax. If you earn over $80,000 per year (or a combined income of $160,000, if you’re a family), you are required to pay an additional 1% of your taxable income to the tax office. This is called the Medicare Surcharge Levy. This levy often costs more than private health insurance itself. Ouch. If you earn above the thresholds, it would be wise to take out insurance.

7. What are waiting periods? When you sign up for private health insurance you may incur some ‘waiting periods’ before you can utilise your benefits. For example, if you decide you want braces, you can’t just sign up and head to the orthodontist the next day. You need to wait (usually) 12 months before you can subsidise the cost of your braces. (The maximum that you’ll be able to get for something such as braces is around $3000 – which may cover half of the cost of braces). Want to know the waiting period for something else? Maybe pregnancy related services? Click here.

8. What if I already have insurance? Is it easy to transfer? You can transfer to a different health provider within a certain period (usually 14-60 days of joining). You won’t have to restart your waiting periods if you transfer, you will simply slide under a different health insurance ‘umbrella’.

9. Thinking of getting braces? You should look at getting private health insurance ASAP. There is usually a 12 month waiting period before you can use your private health cover for subsidising braces.

10. Cosmetic surgery? No such luck. Private health insurance won’t cover cosmetic surgery. If you feel that natural remedies may help you to beautify your body, you’re in luck! Some covers will subsidise alternative and natural therapies – and there’s only a 2 month waiting period!

11. So how many private health care providers are there out there? 37. But a lot of them are restricted. Here is a list of health funds in Australia.

12. Government discount. You can receive a 30% Government rebate on private health care. So you can take 30% off the quoted price (unless they have already done that for you).

13. What is Lifetime Health Cover (LHC)? LHC is a Government initiative that encourages people to take out private health insurance before they turn 31 years of age. If you purchase cover by the 1st of July after your 31st birthday, you’re safe. LHC loadings equal 2% for every year you’re over 30.

For example, if you purchase private health insurance at the age of 35, you will pay an extra 10% on top of your insurance cost. If you wait until you are 50, you’ll pay 40% more. The maximum it will go up to is 70%.

LHC loadings only apply to hospital cover, not ‘extras’.

If you have migrated to Australia there are special conditions you may fall under.

If you are over the age of 31 you can use this calculator to determine your LHC loading amount.

14. Does $250 really mean $250? Say you can claim $250 for glasses each year, does that mean you can buy glasses to the value of $250 every year? With no out of pocket expenses? Yes – that is correct for glasses. But beware, for something like dental care, it is different. You may have a $400 annual claim limit but if you went in for a $100 filling – you can’t claim it all on health insurance. Your $400 is split up into a variety of categories, so you may only be able to claim $50 on that filling. If you are looking for a good health insurance for dental, MBF seems to be a good option.

15. Mind the gap. You may hear the term “out of pocket expense” when researching private health insurance. The ‘out of pocket expenses’ are what make up the ‘gap’.

For example, you have a serious accident and go in for surgery. You may have to pay a ‘gap’ payment of $300 – even though you have private health insurance. The way it works is:

1. Medicare has a list of services that it pays for, called the Medicare benefits Schedule (MBS).
2. When you have private health insurance Medicare pays 75% of the MBS fee and your private health insurer pays the other 25% of it.
3. If you receive treatment that is not covered by Medicare or your insurer, this becomes the ‘gap’.
4. Some health insurers offers a service which covers all ‘out-of-pocket’ doctor’s charges (when treated by participating doctors).
5. It’s always best to call your health insurer to check if you’re going to be up for ‘out-of-pocket-expenses’.
6. Below is a table from Medibank Private’s website explaining the ‘gap’.

16. My health fund is ripping me off. Don’t put up with any of that. Contact the Private Health Insurance Ombudsman:

• Call 1800 640 695
• Website http://www.phio.org.au
• Send a letter to Level 7, 362 Kent Street, Sydney, NSW, 2000

17. What to do now… If you’d like to check the cost of private health insurance, you have two options. You can either research individual providers, or go to a site like iselect.com.au – which will give you a comparison of several providers.

Stay healthy!

“How many killerbites in this phone?”
“I don’t know hey, I think I’ve got 7 bytes on mine.”

Does data confuse you?

You’re not alone.

Mobile phone data usage can be super confusing. Below you will find the answers to some of the most common questions regarding mobile data.

What’s the relationship between all the bytes?

Bytes are a unit of digital information, a way for people to measure Internet. From smallest to largest: bit, byte, kilobyte, megabyte, gigabyte, terabyte.

1 byte = 8 bits
1 kilobyte = 1024 bytes
1 megabyte = 1024 kilobytes
1 gigabyte = 1024 megabytes
1 terabyte = 1024 gigabytes

You will rarely need to deal with bits or terabytes, but MB (megabytes) and GB (gigabytes) are essential to be familiar with. You also don’t have to be super precise though. Basically, 500MG is half a GB

What does 500MB get you in the real world?

Each of the below represents what 500MB can do…

• Open 5,000 basic websites (mainly text)
• Open 1,500 rich websites (with multimedia)
• Open 500,000 basic emails
• Open 1,000 rich emails (with attachments)
• Download/stream 100 songs
• Download/stream an hour of video
• Stream 8 hours of online radio

Say you did a little bit of all of the above. How much will you need? Figure out if you’re a low, medium or heavy user of the mobile web.

Just the occasional email and Facebook check…

Typical low Internet users can get away with 200MB. It will give you the freedom to check your email every now and look up the occasional web page. If you tend to jump on your mobile Internet more than twice a day, you’re probably better off with the next MB bracket…

You’d like to be able to surf the web, check email and Facebook – as you like…

Medium data consumers usually use up to 500MB. This is the most common mobile data package. Be careful though. This is adequate if you use the Internet regularly but not if you’re downloading music or videos. You may become more familiar with using the net when on this data option and the temptation will be there to jump on YouTube for one quick video. If you would like the option of music/video downloads, you’ll be safer with a higher MB quota.

You’re a mobile Internet junkie…

Heavy Internet users can usually get away with 2GB but it all depends what you intend to do with it. If you’re going to be tethering your phone to your laptop (and using it to download movies), get something substantial, like 5GB.

You can also calculate it…

There are some helpful data usage calculators so you can more accurately figure out if you are a low, medium or heavy user of mobile data.
Try these calculators: Vodafone, Telstra and VerizonWireless.

I’d really like to monitor my usage…

Most mobile phone providers will allow you to sign into an online account and view your usage. This can often be a pain and you will have to get a username (usually your mobile number) and a password/pin (something random you set when you signed up).

An easier way to monitor data usage is to download a free mobile app. The Dataman (iPhone) and Data Manager (Android) will record any 3G Internet accessed within your billing month. They also have a function that will alert you when you’re mobile data quota is nearly up.

What is Wi-Fi?

Wi-Fi: Wireless Fidelity, a group of technical standards enabling the transmission of data over wireless networks
(http://www.merriam-webster.com/dictionary/wi%20fi)

Your mobile does not use Wi-Fi unless you are manually connecting to a network. Your mobile uses 3G to access the Internet. 3G stands for third generation.

How does the whole overseas data usage work?

We’ve all heard the horror stories. A $3000 bill for going over your mobile data allowance – usually because you were overseas and forgot to turn ‘data roaming’ off.

When you’re abroad and accessing the Internet via your mobile phone (including push email and Facebook updates – it’s called Packet Switched Data (PSD)) you must be careful. Internet providers overseas charge your carrier a fortune for tapping into their network. Your phone will randomly select a network when overseas and then that network will send your provider a nice bill (which they of course put a mark-up on before sending it to you).

Onavo is an iPhone app that conserves your mobile data usage. It’s free and well worth it if you are going to use your mobile data overseas (I do still recommend you turn data roaming off when overseas).

Which plan is the best?

Now that you understand data you can work out which plan is best for you. Use this comparison page to enter in your chosen data amounts. Some of the stand outs I stumbled across include:

$29 Cap – 3 Mobile – for light data users

$49 Cap – Optus – for medium users

$89 Virgin Topless plan – for heavy users

Things to look out for…

Smartphones can make you do stupid things. A few to look out for are:

• If you sign up half way through a billing month you can only use a fraction of your mobile data allowance. Say you start your contract on the 20th of August and your billing month ends on the 25th, you have 5/30 days worth of mobile data to use. Be careful not to go crazy in those next five days!
• Watch out for roaming charges. If you try to connect to your provider’s 3G network but are not in range, they will usually allow you to join to another provider. This is called ‘roaming’ and it can often be costly. For example; 3 Mobile charges 50 cents per MB while roaming. If you would stream an hour of video while ‘roaming’, it would cost you $250.
• Listening to online radio on your phone is just like streaming a song online. It will chew through your data.
• Turn data roaming off when you are overseas. People wind up with a bill of over a thousand dollars after a sweet summer holiday.
• Facebook on the other hand doesn’t use very much Internet. If you ‘check’ your Facebook 10 times a day (with an average of 2 page views per ‘check’), you’ll use 15MB per month.
• Android phones use more data than iPhones

Ever been ripped off?

If you want to dispute a matter regarding an unfair mobile phone or Internet bill, you can to get in contact with the communication ombudsman. A person in the office recently received a $10,000 phone bill from Telstra. He went overseas for a couple of months and came back to find a nasty bill waiting for him.

Mobile data can be super handy – just remember that there is always fine print.

Number 1: Xpenser
Number 2: HomeBudget (for iPhone)
Number 3: Easy Money (for Android)
Number 4: Meal Split (for iPhone)
Number 5: IOU Pro
Number 6: Pennies (for iPhone)
Number 7: Ebay
Number 8: Paypal

How does it work? Here are 4 ways to send in an expense.

1. Mobile app (it’s called Fresh Xpense): Enter the amount and press save.
2. Email: The subject of the email should be the expense you are recording. For example: “Banana $17 Coles, bargain“. Send it to: e@xpenser.com for expenses without receipts & r@xpenser.com for expenses with receipts.
3. Instant message: IM your expenses to xpenserbot (xpenserbot@hotmail.com for MSN, xpenserbot@gmail.com for Google Talk). For example: “yoga $12 with mum”
4. Tweet: Start your tweet with ‘d xpn’. For example: “d xpn breakfast 3.5 with Husband Chad”

Once you have submitted your expenses, log into your account. The expenses will be listed (see below). Ideally you should set up your account online before you start sending in expenses. That way you can create your own categories (food, bills, entertainment) and reports (August, September..). That way your expenses will be ordered nicely for you to look at that night.

X-factor: Key words. When sending in an expense you can use key words to indicate certain information. For example, if you remember an expense you had last Monday but forgot to record it you can say ‘date last wed’ in the ‘Notes’ section. You can find more key words in the ‘Keywords’ section of your account.

More info for iPhone
More info for Android

This is a great all-rounder. If you want to see your incoming cash flow and expenses all in one place, this one’s for you. I downloaded the free version but it only stores 10 expenses so I expect you’ll need the full version to use this app properly.

Basic function: Budget generator. It records your income and expenses (even reoccurring ones) and shows you how your finances are going to be distributed.

Is it for me? If you’re looking for some budgeting assistance but aren’t too concerned about recording day-to-day expenses, this one’s for you. Compared to Xpenser (above), it is not as quick and easy to enter in an expense (such as coffee) so it may become a pain if you had to enter 10 different expenses in for one day.

How does it work? Enter your income, expenses and account balance (you need to keep updating your account balance). You’ll see a breakdown of where your money is going and how much you can save.

More info

Is it for you? If you are looking for a detailed app that will record you expenses, income, view reports, export reports, set monthly budgets and do pretty much do everything, this one’s for you.

• It has fully customizable categories.
• You can take photos of bills and receipts.
• It tracks upcoming bills.
• You can even set up repeating transactions between accounts.

How does it work? You simply add an entry (name, amount, loaned or borrowed – very simple). You can even track an item you’ve borrowed, like a book.

X-factor: If Jimmy happens to have 5 Euros lying around, you can enter that in and it will do the conversion.

More info

There is a similar version available for iPhone called Moneybags IOU.

A super simple, quick as lightning, expense recorder. This is probably the most practical app if you’re looking for something not too involved but will record all your day-to-day expenses.
Basic function: Records expenses.

How does it work? Just enter the amount ($3.50?), select a category (food?) and press ‘save’.
This guy has a great video that steps you through it visually. It’s very self explanatory so you shouldn’t have much trouble if you sit down and play around with it.

Why so cool? The design is great. It feels good to use. I can imagine incorporating it into my life.

X-Factor: It has a funky fuel gauge that indicates how much money you have left!

More info

On the other end of the savings spectrum is spending. This app is closer to the spending end.
Basic Function: Buy things (or sell things) off Ebay.

Is it for me? I don’t recommend this app if you’re on a tight budget or trying to build your savings. Warning: This app will tempt you into spending. On the flip side, if you’re looking to buy something and need to find it second hand (second hand = cheaper), then the Ebay app is super handy. Also, you can sell things on Ebay! Why not dig up some things you never use and sell them as… vintage?

How does it work? Step 1: Search for item. Step 2: Place a bid. Step 3: There is no step three. Super simple. You’ll just need to make sure you set up an Ebay account before you install the app (if you haven’t already got one).

Why so cool? Not only can you buy things on Ebay, you can also sell things. Simply upload your item via the app (even take a picture with your mobile camera) and you’re set.  The app also sends you notifications for items that have received bids.

X-factor: People love this app. It received 4 stars on both  iTunes and the Android Market (from 162,292 and 69,302 people respectively). It must be good!

More info for iPhone.
More info for Android.

This app is my favourite at the moment. I’m going to review this app in a perfect world, where everyone has a Paypal account (which I believe will happen very soon).

Basic Function: Transfer money between people.

Is it for me? Yes, it is free and if everyone had one, life would be a whole bunch smoother.

How does it work? You’ve gone out to dinner with friends, but the restaurant won’t allow split bills. No one has cash. It’s no problem, everyone pulls out their mobile and transfers you their part of the bill – then you pay it. Or imagine this. George needed new shoes yesterday and forgot his wallet. You grabbed him a pair on your lunch break but George didn’t have any cash to pay you back. You pull out your phone and request $76 via a text message, then George quickly replies with $78 ($2 for labour) via Paypal.

Why so cool? Transferring money is quick and easy. You can use text messaging to remind people they owe you and request payments.

X-factor: There is a fantastic meal splitter where you can adjust amounts for each person – and then send them a text message requesting that amount. Amazing!
More info for iPhone
More info for Android

Noteworthy apps…

XEcurrency (for iPhone)

Currency Converter (for Android)

Compare it (for iPhone)

Gift List Shopper (for iPhone)

Gift Calendar (for Android)