Industry articles, news and updates.
One of the latest finance podcasts I have found is the Mamamia Womens Network's "What The Finance", hosted by financial expert and author Melissa Browne and actor Pallavi Sharda. According to Mamamia, the podcast aims to " break down all the myths and misconceptions when it comes to your personal finances, plus give you practical tips and speak to experts."
There are seven episodes available now, with new ones dropping weekly. To listen click here.
Thursday 22 April 2021
Australia ABC's Four Corners program screened it's 'Class of 2020' episode on Monday 3 November. This week's episode is definitely worth a watch.
The ABC's synopsis describes the program as "...first hand accounts the class of 2020 reflect on how the global pandemic upended their final year of school. Students from across Australia discuss the uncertainty and disruption of lockdown and their plans for the future."
Monday 3 November 2020
Credit cards seem to be a divisive topic for many people. Most people either swear by them, or would never entertain the idea of having one in their wallet. I have always leaned towards being against credit cards for myself, however I have family members who wouldn't be without one. Having people around me who use credit cards quite effectively has been an experience that makes me realise they can be a useful financial tool when used effectively. From points programs to helping to manage cash outflow, when you have a credit limit that you are able to pay fully each month, there is a number of benefits.
Applying for a credit card can be one of the more complex financial decisions you'll need to make in your life - the card you choose can have a huge impact on your personal finances and your life. There are so many options offered by so many different types of financial institutions. To make things more interesting again, there is dozens of comparison websites on which to compare all these options.
One really important thing to consider when applying for a credit card is to consider the credit limit. The implications of the card's limit can be more than just the amount you can spend. In some cases a higher limit gives you access to particular features of the credit card. These can be tempting, as they can give a significant benefit the card holder in the form of more points per dollar spent, or access to insurances. It is important to remember not to get too swept away by these features. If the credit balance is more than you could afford to pay off in one month, don't apply - all the benefits are not worth a large credit card debt.
The Australian Government's Money Smart website is a great place to start when you need independent financial information, calculators and tools. One great tool they have is the credit card repayment calculator. It also contains advice on choosing, cancelling and balance transfers for credit cards.
The Mamamia Women's Network covers the issues of students completing their Year 12 studies in 2020. This podcast and accompanying article are an interesting listen and read. The article, 'Why the class of 2020 might be the strongest students we've ever produced', starts with stating that "As we near the end of the school year, graduation ceremonies look set to be yet another casualty of COVID. Yet, if any cohort deserves the tears and cheers of a full ceremony, it’s this year’s Year 12s." It goes on to map the challenges that the students in the 2020 graduating class has see over the course of their lives. To read the article click here. To listen to the podcast episode, click here.
Thursday 22 October 2020
From the Mamamia Women's Network @mamamiaaus comes this latest Instagram video with messages of encouragement and support from people - politicians to media personalities - across Australia. This has been an exceptional year for the graduating class, one that will be unique to these students. With only a few weeks left to go before graduation, it is a time to reflect on everything that has been achieved this year. To watch the video click here.
Thursday 22 October 2020
"Dramatic changes in the job market – and the way we live – have left many of us re-thinking our priorities in the wake of COVID-19, and doing some soul-searching into what really matters. And for many of us, it isn’t money."
An important concept for young people to develop an awareness of, in learning about personal money management, is that the pursuit of wealth is not the 'end game'. When individuals focus on getting better at money management for the purpose of improving their personal lives as well as the lives of the people they care about, it is a true win for all of us. To read the full article from Seek, click here.
Tuesday 20 October 2020
"Money can be particularly uncomfortable to talk about with a potential employer". From the Australian Broadcasting Network (ABC), this is an interesting thought piece by Kellie Scott, and certainly quite relevant for many people in Australia at this time with higher than average unemployment rates. The article includes a case studies of real people negotiating this difficult subject with potential employers. To read the full article click here.
Tuesday 13 October 2020
Credit cards can be an important tool for a lot of people to manage their money. Some people swear by them, and others refuse to even consider applying for one. Regardless of how you feel about them, I think everyone could agree that less credit card debt is better than a large debt you will struggle to pay back to the bank. This year has been quite extraordinary, and in many cases the theme seems to have been 'firsts'. The Reserve Bank of Australia has released data up to August 2020 showing that credit card debt in Australia has dropped to it's lowest in 15 years. To read the full article click here.
Monday 12 October 2020
Rick Morton is a journalist and author. He is open and honest about his life, and in this recording of Unmoderated: Rick Morton on money at the Perth Festival in February 2020 he talks about the impact that money has had on his life and how it can change the course of all our lives - depending whether we are born into it, or not. The concepts in this podcast are so important for our young people to have a knowledge to appreciate how people come from different financial backgrounds. To listen click here.
Friday 9 October 2020
The Mamamia Women's Networks daily podcast, The Quicky, released an episode this week about renting a house verses buying your own home. Host, Clare Murphy, speaks to Taryn Hunter, host of the Storytellers podcast and long time renter and Emily Stewart, ABC Finance Reporter and author of the Your Money Explained newsletter. An interesting listen with some insightful ideas and opinions. To listen to this podcast episode click the image click here.
Thursday 8 October 2020
The 2020 year has been a unique time, and this month another out-of-the-ordinary thing is happening. Each May the Australian Federal Government releases it's budget for the coming financial year. This year, however, we have a second interim budget being put to the Parliament. This extraordinary event is due to the rapidly changing economic environment resulting from the COVID-19 pandemic. The Government put the JobKeeper and JobSeeker welfare support payments in place from 1 March 2020. In this new budget, they will add marginal tax rate cuts to the support they are providing to Australians.
Wednesday 7 October 2020
An important concept to understand about the taxation system is why we pay taxes in the first place. This creates a solid basis for developing further knowledge of areas of taxation and key areas we all need to appreciate in order to improve our own financial literacy. As well as Dollar Value Education's resources, there is lots of great resources and ATO Community pages readily available on the Australian Taxation Office website. These sources are a great accompaniment to our e-learning resources.
In Australia, our taxation system is regulated by the Australian Taxation Office (ATO). The ATO is the principle revenue collection agency of the Australian Federal Government. They manage, among other things, the collection of taxation revenue; administering the goods and services tax (GST) and major aspects of the Australian superannuation system; and custodianship of the Australian Business Register.
The Australian taxation system is primarily regulated by the Income Tax Assessment Act 1997 (ITAA 1997) and Income Tax Assessment Act 1936 (ITAA 1936). Other relevant acts include the Goods and Services Tax Act 1999, and the Fringe Benefits Tax Assessment Act 1986.
Dollar Value Education has student resources available on introductory tax topics in our online store and Teachers Pay Teachers profile. You can also find free video resources on our Youtube channel - our Back to Basics Quick Clips and Simple Tax Tips series are a great place to start.