The popular US finance app Acorns is now available in Australia. Like the nut it is named after, the app takes something small — your leftover change — and attempts to grow it into something much bigger. This is achieved by automatically investing the money into a diversified portfolio of exchange traded funds (ETFs) whenever you make an online purchase. Here’s how it works.
Lenders Mortgage Insurance (LMI) is a one-off fee payable when borrowing more than 80 per cent of a property’s value. It’s yet another expense that can make life difficult for cash-strapped home buyers; even for a modestly priced property. This “hustler’s guide” from Home Loan Experts outlines the various ways you can reduce — or completely avoid — your LMI fee.
Peter Ray is a private collector of war memorabilia based in Bilpin, NSW. The jewel of his collection is a Matilda II Mk IV infantry tank used by Australian army regiments during World War II. Purchased in 1980 for a mere $700, it currently commands a price tag of more than $400,000. Sometimes, weird investments have a way of paying off.
We’ve always recommended having a good emergency fund set up for when things go wrong. However, not all of life’s surprises are bad. You should also consider setting up a fund for when opportunities find you.
If you live in one of Australia’s major cities (we mostly do), it can seem impossible to find a house or unit that’s affordable and a reasonable distance from the centre. But it can be done. Here are the five most affordable suburbs for houses and units located within 20 kilometres of the CBD in Australia’s capital cities.
If you started investing $448 a month at 30 years old, Yahoo Finance says that a reasonable 8% return would put your savings over the million dollar mark in 35 years. The problem, of course, is finding that extra $450. To help ferret out every quarter in your couch cushions, the article suggests seven different potential expenses that, with slight adjustments, could easily produce the extra cash you need to start down the road to a million.