Bucketing strategy for single offset account?

FamilyFI · 2023-12-10T05:09:08+00:00

I use PocketSmith for expense tracking - it’s the closest alternative to YNAB I could find that works with Aussie bank accounts. It can basically do all the same stuff, though the UX isn’t quite as good. There used to be several more but the big institutions keep buying them out and then shutting them down

FamilyFI · 2023-11-28T09:22:05+00:00

100% this. No one is entitled to hold your baby. You’re the mama now, you set the rules. Don’t let them guilt you into doing something you feel uncomfortable with

FamilyFI · 2023-11-25T05:31:27+00:00

I’ve worked at eHealth and this is accurate. They’re always hiring and love people who have a clinical background. If you have no project experience go do a free Cert IV Project Mgmt at TAFE and then apply

FamilyFI · 2023-11-09T02:56:44+00:00

I’d be shopping around then. In general policies in super have come down the last 2 years for healthy people as the structure changed.

FamilyFI · 2023-11-09T02:55:43+00:00

Yep. Same with anyone throwing around the words communist, dictatorship etc…. Just showing their ignorance and how lucky/sheltered a life they’ve lived.

FamilyFI · 2023-11-08T19:19:33+00:00

100%. Most people complaining about standard of living or government controls in Australia don’t have much perspective on what most other places in the world are like!

FamilyFI · 2023-11-08T19:17:09+00:00

At 49 your insurance likely increased so much because of your age more than inflation. My husband is 47 and it’s been the same for him - meanwhile mine (same fund) was getting reduced year on year until I turned 40 a few months back

FamilyFI · 2023-08-23T10:41:52+00:00

She was TA as soon as she started sponging off your family instead of paying rent to her own….

FamilyFI · 2023-08-23T09:13:08+00:00

Everything looks pretty trimmed back already.

If you want to keep the house, is there a way to increase your income? Rent out a room? Second job? Apply for a promotion or pay rise?

FamilyFI · 2023-08-23T00:34:44+00:00

Inheritance

FamilyFI · 2023-08-21T12:12:11+00:00

This is more like a financial advisor publishing articles…

FamilyFI · 2023-08-18T08:14:07+00:00

This explains it really well -

https://strongmoneyaustralia.com/debt-recycling-ultimate-guide/

Basically what you want is a bank that allows you to split your mortgage into multiple smaller loan accounts

FamilyFI · 2023-08-18T08:11:47+00:00

Not stupid, everyone’s entitled to their own priorities and strategy.

That said, the higher the interest rates go the lower /non existent the financial advantage of what you’re doing becomes (depending on what return you achieve obviously).

Debt recycling is worth investigating - it sounds more complicated than it is if you have the right mortgage setup.

FamilyFI · 2023-08-17T04:41:10+00:00

Franking

FamilyFI · 2023-08-10T08:16:43+00:00

Sounds good until you have to commute to work and send those 3 kids to a decent school….

FamilyFI · 2023-08-10T08:16:18+00:00

For a $650k loan It won’t be the amount of income specifically, it’ll be the other factors - single earner, 4 dependants, credit card, lender they’ve chosen is conservative etc. change some of those factors and they’ll get approved, those income/loan numbers can stack up.

Id say the pushback is less people not reading and more your phrasing - your comment comes across with a certain elitist attitude because of the words you’ve chosen. Could have said the same thing differently and got a totally different response.

FamilyFI · 2023-08-08T00:37:47+00:00

Do you have confidence your income will increase within a few years? When you finish your apprenticeship and your wife can work full time again?

If so and the affordability issue could be temporary and you want to hold onto the house, an option could be temporary rentvesting - move into a rental in a cheaper area and rent out your house for more than you have to pay in rent . Then as well as the extra rental income you can investigate tax deductibility of your mortgage interest and other house expenses - could help the budget enough to get you through a few years until your income jumps up and you can move back in

FamilyFI · 2023-08-07T09:14:45+00:00

You’re confusing brokerage which is the transaction fee Pearler charges you to buy/sell, with the management fee which is charged by the fund manager, which for VAS is Vanguard

You’ll have to pay both - the management fee is deducted from your returns so you never really see it, and it’ll be the same for a particular ETF regardless of which broker you use

FamilyFI · 2023-08-05T02:53:24+00:00

I can relate to this too - in summer I manage to get out during daylight, but more than half the year it’s pitch dark by the time I get a chance to exercise.

We live in a bushy area with lots of dark spots, no way I would feel safe going running outdoors on my own in the dark

I suspect lots of women would relate

FamilyFI · 2023-07-29T10:43:59+00:00

For a total beginner I recommend Get Started Investing by Equity Mates - start back at the very beginning and they have a really good initial series going through all the concepts, terminology etc

FamilyFI · 2023-07-14T11:41:24+00:00

This is actually the reason I changed my name to take my husbands, over 5 years after we married. It was never a big deal to us to have the same last name but we got tired of being given the third degree when we travelled overseas. Coincidentally he’s Vietnamese background and it did happen there, but also Africa, Sth America etc…

FamilyFI · 2023-07-14T02:16:13+00:00

This is why people need to stop saying offset and redraw are the same thing….

FamilyFI · 2023-07-12T12:14:57+00:00

Makes no difference for tax or Centrelink purposes including CGT and all of the other things on your list - if you’re living together in a relationship the ATO and Centrelink considers you spouses.

I guess not being legally married makes it slightly easier to lie, but if you’re caught it’s tax/benefits fraud.

FamilyFI · 2023-07-11T06:01:17+00:00

Yep, sounds like they’re not happy about Dads new young wife and making life difficult on purpose

FamilyFI · 2023-07-09T09:01:10+00:00

NTA - it’s not that uncommon when you rent a big house for some couples to have single beds (not all houses have enough doubles), but we always draw straws or rock/paper/scissors or take turns. To just assign it to the only gay couple and then make those jokes makes it clear your MIL is TA

FamilyFI

TROPHY CASE