Financial Tools
  Client Portfolio Access
  New Client Kit
  Enquiry / Seminar Registration
Hot Issues
An investor's personal trainer
SMSF trustee penalties going up
Contraventions rife among non-advised SMSF trustees
Dealing with investor uncertainty
Reserve bank gives the economy a lift
Retirement planning: the gap between intention and reality
Market Update – April 2015
Budget 2015 - some professional opinions
Australian Government - Budget 2015
What does the ATO want from you?
Making sense of the new excess contribution rules
Greying, working and contributing
Simple-yet-smart investment housekeeping
Market Update – March 2015
Customer-centred innovation underpins high satisfaction among financial advice customers
Two sides to the age profile of SMSF members
Actuaries call for end to superannuation policy tinkering
ATO urges caution on pensions
Market Update - February 2015
Aussie economy shifts gears as structural changes take hold
The catch 22 of retirement savings
Are there reasons to help the tax man do his job?
Some financial terms explained
Small business paradox
Good financial planning finally has a value: 23% more income in retirement
Market Update - January 2015
Articles archive
Quarter 1 January - March 2015
Quarter 4 October - December 2014
Quarter 3 July - September 2014
Quarter 2 April - June 2014
Quarter 1 January - March 2014
Quarter 4 October - December 2013
Quarter 3 July - September 2013
Quarter 2 April - June 2013
Quarter 1 January - March 2013
Quarter 4 October - December 2012
Quarter 3 July - September 2012
Quarter 2 April - June 2012
Quarter 1 January - March 2012
Quarter 4 October - December 2011
Quarter 3 July - September 2011
Quarter 2 April - June 2011
Quarter 1 January - March 2011
Quarter 4 October - December 2010
Quarter 3 July - September 2010
Quarter 2 April - June 2010
Quarter 1 January - March 2010
Quarter 4 October - December 2009
Quarter 3 July - September 2009
Quarter 2 April - June 2009
Quarter 1 January - March 2009
Quarter 4 October - December 2008
Quarter 3 July - September 2008
Quarter 2 April - June 2008
Quarter 1 January - March 2008
Quarter 4 October - December 2007
Quarter 3 July - September 2007
Quarter 2 April - June 2007
Quarter 1 January - March 2007
Quarter 4 October - December 2006
Quarter 3 July - September 2006
Quarter 2 April - June 2006
Quarter 3 of 2010
Articles
Jobs for Life
Scams
Breakdown shocker
Market Updates –   August / September 2010
Three Stages of Retirement
Deemed Dividends
When PEG beats the P/E Ratio
Super Debt
5 Billionaire habits…
Market Updates –   July / August 2010
Five things to do before interest rates go up.
Save for retirement – 'I am not kidding'
Commodities Boom Hinges on China
Debt, Debt and more Debt
Market Updates –  June / July 2010
Debt, Debt and more Debt
By Robin Bowerman
Smart Investing
7th July 2010
Principal & Head of Retail, Vanguard Investments Australia

A special report on debt in The Economist magazine (June 26-July 2) makes the telling point that “in the rich world, getting your first credit card is a rite of passage”.

“And even if you shun the temptation of borrowing to indulge yourself, you are still saddled with your portion of the national debt,” adds the report, headed Repent at Leisure.

The credit card statistics in the Reserve Bank Bulletin for June shows how their total outstanding balance has grown relentlessly in Australia over the past 25 years, reaching more than $47 billion in April (the latest figure available).

The average credit card balance in April was $3234 – against an average credit card limit of $8884.

It is significant to emphasise that there are 10.6 million credit and charge accounts in existence, and, of course, an average balance gives no indication of the number of consumers with multiple accounts.

The horrific story of credit card debt would typically involve consumers who are “maxed out to the limit” on a handful of cards.

ASIC’s consumer website provides terrific tips for those with seemingly out-of-control debts.

It includes pointers about how not to accrue excessive debt in the first place, a calculator showing how to budget and how to assess your debt position, how to reduce debts, and where to go for help.

 



18th-July-2010

  Financial Advisor | Financial Planner | Financial Adviser | Financial Planning | Financial Planner Sydney