Establishing an emergency buffer
Uploaded: 15 Apr, 2019From a wealth accumulation perspective, before embarking on longer term strategies, plans need to be in place to meet not only your short-term cashflow requirements, but also financial emergencies.
With this in mind, a key question to consider is whether you have enough savings at hand to weather a financial emergency. A financial emergency can be:
- An unexpected large expense; for example, medical/dental emergencies or home/car repairs.
- A sudden loss of income requiring you to cover three months’ living expenses; for example, losing your job (being fired or made redundant) or losing your investment property tenant.
In this animation, we illustrate the importance of establishing an emergency buffer – a ‘rainy day fund’ to weather financial emergencies.
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Why do you manage your money the way you do? You might be surprised to know that we all have a money personality which influences our behaviour and decisions and ultimately our success with money, see our latest animation.
It's safe, low risk, guaranteed rent, big returns. You go along just to find out more, it looks good, it feels good, you get excited and you don't want to miss out. Some food for thought before you sign on the dotted line and hand over your hard earned savings.
Having a self-managed superfund comes with a range of responsibilities. In this video we explain the things SMSF trustees need to do at or around the end of each financial year.
When is the last time you did absolutely nothing for 10 whole minutes? Not texting, talking or even thinking? Find out about the transformative power of refreshing your mind for 10 minutes a day.
For most people, access to super starts at or close to retirement, but in extreme circumstances you may be able to access your super sooner if you meet certain requirements. This video looks at the different options that you have to draw down your super and when earlier access may apply.
Suspicious emails: unclaimed insurance bonds, diamond-encrusted safe deposit boxes, close friends marooned in a foreign country. They pop up in our inboxes, and standard procedure is to delete on sight. But what happens when you reply?
Institute of Public Accountants General Manager Technical Policy, Tony Greco outlines the IPA's view on the 2016 Australian Federal Budget.
In this video Leigh Sales challenges Scott Morrison. Mr Morrison discusses the current deficit and what their plan is for the future economic growth for Australia.
Why is it that insurer’s ask so many questions when you apply for cover? This month’s video explains the underwriting process that insurers go through and how it can influence the terms of your insurance policy.
In this deceptively simple 3-minute talk, Dr. Laura Trice muses on the power of the magic words Thank You — to deepen a friendship, to repair a bond, to make sure another person knows what they mean to you. Try it.
A blackboard in the middle of New York City gives people a second chance at their dreams. Take a look at what these people would do differently – does it resonate with you?
Super splitting is a strategy that allows you to share your super contributions with your spouse. It can be a helpful way to boost your spouse’s super and may benefit you in other ways depending on your situation. See our video to learn more.
Ever wondered just how much your perspective influences an outcome? Have a look at this experiment where six people photograph the same man and produce very different results
Has it been a while since you have looked at your Super? Check out our newest animation to see what to look at when it comes to reviewing super accounts.
We know that taking time off is good for our health, but did you ever think it could be good for your work too? In this interesting video, designer Stefan Sagemeister discusses how powerful his time off has been for his business.
Time for a health check on your financial habits? Check out our video on what makes for healthy financial habits for a positive start to the new year.
To end the year, a touching short film about a kindly man who is rewarded for his generous spirit. It does not take much to make a small difference to people’s lives, and people will notice it.
Depending on how you look at it, investment risk can mean different things to different people. And there are many ways in which people put their financial position at risk without realizing. Check out our animation and see how this might apply to you and what you can do to manage your risks.
Do you know about the upcoming changes to the Pension Assets Test? Find out more about what to expect in our short video.
Every person has its own advice and tips to offer to the younger generation. This video has some interesting insights from the young to the more senior of what advice they would tell a younger self.
In some cases it is possible for an SMSF to borrow to buy an investment asset. However, be careful, there are many things to consider. Check out this short video about ways your SMSF may be able to help finance the purchase of an investment asset.
Spending money or saving money? This is the ongoing battle between present and future self. The battle can be unfair as your current self can be stronger than your future self – and this applies to money as well.
There are different ways that you can hold your life insurance, one way is through your superannuation fund. This animation looks at what should be considered with holding insurance inside of superannuation.
Shawn Achor is the CEO of Good Think Inc. Shawn is an entertaining presenter and explains whether it is possible to train your brain to be more positive.
Asset Allocation is important when it comes to investing. So what is Asset Allocation and how does it work? What are the important concepts to consider with Asset Allocation?
If you’re faced with something that’s unexpected, unwanted or uncertain would you consider it a gift?
Did you know that one of the biggest drivers for the performance of investments can often be due to the good or bad behaviour of an investor.
The analogies “smoke and mirrors” and “if it sounds too good to be true” come to mind in this funny video. Showing that you can turn nothing into something, quite convincingly if you know how.
Have you heard of the term “testamentary trust” before but aren’t really sure what they are? This animation provides a simple explanation what a testamentary trust is and how it works.
This video summarises the main points of the 2015 Federal Budget.
In this video David Speers talks to Joe Hockey about the 2015 ‘Have a go’ Federal Budget.
What do you think stands between you and where you want to be? Is it having enough time or money? Your health or resources? Is it fear of failure?
Have you ever wondered what a mortgage offset account is and how it might benefit you? This video explains more…
What will Australia look like in 40 years? In this video, Dr Karl (best known as an author and science commentator on Australian radio and television) investigates what the future challenges and opportunities Australia may face from the 2015 Intergenerational Report.
Many of us already have a dollar cost averaging strategy in place without even realising it. In this animation we explore the concept of dollar cost averaging and how this strategy works.
You may have heard the theory that we only use 10% of our brains. But is this actually true? In this short video we explore the brain’s capacity to store and retain information and discover why we aren’t so good at multi-tasking.
There are many different ways you can build your super balance in preparation for retirement. In this video we take a look at some of the common ways you can contribute to your superannuation.
Where is your income going to come from when you retire? This animation takes a quick look at a typical retiree’s sources of income in retirement.
This six year old, called “The Flying Squirrel” may well just be the best surfer and skater for her age in the world. Prepare to be gobsmacked.
Sometimes it feels like the years just slip by. Here is a look at some of the memories of 2014.
A Melbourne-based pop up store is selling something quite unique. Organic, natural bottled air, sunshine and moonlight are just a few items from their product range. Are they serious? Let’s find out.
Planning for and talking about aged care early helps to provide better outcomes for senior people, their families and carers. Our animation explores some of the options for senior Australians considering aged care.
It wouldn’t feel like Christmas without Christmas lights, a big tree and some catchy Christmas tunes! This impressive Christmas lights display in California takes a humorous look at the Christmas holiday period.
Why do people invest in shares? This video explains the types of returns generated by investment in Australian shares.
Alzheimer’s disease is the most common form of dementia affecting over 40 million people worldwide. This video takes a look at how Alzheimer's affects the brain, shedding light on the different stages of this disease.
If you are approaching retirement, or have reached your preservation age, you may be wondering what options you have for your superannuation monies. This animated video explains more.
A video that explains the math behind interest rates and how to calculate the future value of your money.
A short animation explaining the ins and outs of credit cards, how they work and how to manage a credit card more efficiently.
If you’ve ever wondered what’s involved in establishing and running a Self Managed Super Fund, then this video is for you. Take a quick look at the roles and responsibilities of setting up and running a SMSF.
There are many rules and regulations when it comes to working out whether you qualify for an Age Pension. This short animation explains some of them.
Tax time is always fun. Putting together the shoebox of information and gathering documentation for all of those important deductions. This video explains some rules.
If you’re a frequent traveller (or not), chances are that you’re packing incorrectly. This video shows how to ‘bundle pack’ – the ultimate hack for packing.
Did you know that the Big Mac is used in economics as a tool to gauge currency values? Referred to as the Big Mac Index, this video looks into “Burgernomics”.
It can be uncomfortable to think about, but planning for your death can make a big difference to the lives of those left behind as well as significantly influence the longevity and application of your assets.
For many of us, winning the lotto would be a dream come true. But in reality, coping with a financial windfall may not be the jackpot that it’s cracked up to be!
“Joe Hockey's 'contribute and build' budget can also be labelled the 'no pain, no gain' budget”, says Emma Griffiths, political correspondent for the ABC. Check out what else Griffiths has to say on the 2014/15 Federal Budget.
What would you do if you had to relearn to live a different way and accept that suddenly all the things that you loved doing you couldn't do anymore? Would you fall in a heap emotionally and financially?
With Australia’s life expectancies at their highest level, you may just live for longer than you anticipate, like this fit and healthy 90 year old! What does this mean when planning for your retirement?
Many people choose to ease into retirement and make adjustments to their work and lifestyle over time. This video explores the ways a Transition to Retirement strategy can help you or a loved one ease into retirement.
This video asks kids how much they think top basketball stars make each year. Although funny, it highlights how foreign the concept of money can be and the importance of educating our younger generation on money matters.
Keeping with our New Year’s theme, this funny video highlights how a little careful planning can go a long way towards helping you achieve your goals – no matter how ambitious.
In this video Ashton Kutcher talks about keeping your career going - making your own luck, being smart/thoughtful/generous and living life.
Purchasing a home can be an overwhelming process. There a quite a few things to consider and costs to account for. It therefore makes sense to take your time, do your research and make sure that you are paying the right price for the right property.
Approaching your financial life with a non-serious yet focused attitude will help overcome any difficulties that come your way while making the most of the money you make and accumulate.
Success can be defined as getting back up each time you fall over. Getting back up and financially focused is as important as making a plan in the first place.
Has an investment scam ever left a sour taste in your mouth? The scams that top the list are Lotteries, pyramid schemes and phishing attacks. So we all need to be alert. 800,000 Australians fall victim to scams each year.
6 million people are exposed and 800,000 fell victim and lost almost $1billion via scams and fraud. Are you part of this statistic? Given that many of the scams originate outside Australia, it pays to be vigilant. This video explores Investment Scams.
In this video there are a few useful tips to get the most out of your technology.
The Federal Budget includes little in the way of surprises with the usual promise of big savings and big spending, though not this election year.
It’s interesting to see how people make different observations and conclusions based on a surface review. Sometimes a deeper review can provide a more accurate understanding of what is going on.
Practical jokes are a great tonic to the seriousness that can swarm around us; however, money, finance, returns and taxation aren’t typically treated lightly, and rightly so, it is important to make the most of the money you earn and have accumulated.
Getting clear on what you want and staying focused on the steps needed to achieve your goals can be easier said than done, particularly given the amount of noise in our technologically rich society these days.
What you do and don’t do influences the amount of drama you will likely experience in your life. If you think drama is enjoyable, just look at the faces of these button presser’s.
While flying is no doubt a risky activity, the risk can be reduced by the flyer having the appropriate competence and emotional confidence.
This video shows us the power of money. Don’t waste it on stuff, use it to make your life richer.
If you have people who are financially dependent upon you, and/or you would like to look after someone once you’re gone, it’s important to review your asset and income position, and how this relates to your insurance coverage.
Watching this video can give you a taste of the travel bug – is there anywhere you want to go? Sometimes we get stuck in the mundane and ‘rut’ of life. Life is about experience, sharing fun times and living each day.
In this short video, we see a fascinating demonstration of water art. While you can be mesmerised with what the artist is creating, once done, the artist brushes his work away in a moment. This reminds us of how quickly things can change, and how we can attempt to hold on to the way something used to be.
Like the evolution of music and dance, personal finance and world markets will continue to evolve and change. What’s more important than worrying about the change is ensuring your fundamentals are working for you.
How much money do we really need to enjoy life? Do we really need that new car, the new jet ski, the around the world holiday to feel the joy of life? In this video, the local school bus driver shows us how to laugh and enjoy life.
A very funny video that reminds us that while giving directions to another can be a nice thing to do, sometimes we can end up red faced if we don’t know what we are talking about, or if someone misinterprets what we suggest.
In this entertaining video you will laugh, squirm and wonder how on earth he does what he does.
There is a saying that rich men have big library’s and small TV’s. We are not claiming this to be categorically true, however, it is important to recognise that what we choose to learn and understand is a predictor of what our future holds.
Please watch this video right to the end. You will be rewarded! Whether you’re a fan of Ellen or not, or you don’t even know who Ellen is, this is an extremely funny interview with Accountant Keith Dickie.
In this somewhat corny video the scientist reveals the hidden factor within the fire that saves the handkerchief and the $100 note.
The more your financial arrangements are in rhythm the easier it is to plan.
Here are a few things to consider, and to do, which may just keep the peace around your finances.
Bobby McFerrin hacks your brain while teaching us about how we react to the unexpected.
Time flies by so quickly. Take a moment to watch some of the major events of 2011.
Master Oogway points out one of life's gifts, but what about the others.
A hilarious reminder of what you believe in deeply will move you.
What Elmo can teach us about making the most out of our work and beyond.
Warren Buffett shares some of the principles that have worked for him over the years.
Whether you’re into your numbers or not, you’ll get a laugh out of this short and quick look at creative accounting.
What does tying one's shoelaces have to do with living long and prospering?
Ever wanted to do something differently but never made it?
A fascinating video showing change in health and wealth across generations and the world!
Whether or not you're a fan of Social Media, it's fascinating to see the compounding growth.
No discipline? Credit cards are a bit like having a time out, without sitting in the corner.
Procrastinate? Methods and tips!
This analogy applies to much more than waves in the ocean.
We often feel like everything is under control, then, BANG! Something smacks us right in the face.
Hilarious Chicago clean comedian Tim Clue talks debt.
How to sing 25 Christmas songs in 2 minutes.
A light-hearted look at what teamwork can achieve.
Stretch what you think is possible!
A very clever video by a Mum who clearly knows the demands on being a Mum.
A funny video for the Dad's who are moving through the midstream of life.
After hitting on a brilliant new life plan, our first instinct is to tell someone, but Derek Sivers says it's better to keep goals secret.
Was that a sunburnt face or just embarassment?
Being confident is only useful when it aligns to reality.
A light-hearted look at an example of Leadership and the 'Second Follower'.
Celeb chefs offer their advice on creating top meals to cut Food Waste and to save Money.
Why do people succeed? Is it because they're smart? Or are they just lucky? Neither.
Did you know that John Lennon showed all the signs of having the Dolphin money personality? In this video, we see his iconic song 'Imagine', sung by people from around the world.
This follows on from Part 1. The Short and Simple Story of the Credit Crisis.
The Short and Simple Story of the Credit Crisis (Part 1).
Kyle Chin skates from top to bottom down a beautiful hill in Outerspace.
This is a short video presentation on how the financial markets work.
Your Day in numbers in 140 seconds.
14 months in the making, 42 countries, and a cast of thousands.
Describing the mindset of the investment banking community in the GFC in this satirical interview.
Guy explains that you don’t need a big fancy mission statement.
Steve Jobs urges pursuit of your dreams and see the opportunities in life's setbacks.
Creativity expert Sir Ken Robinson challenges the way we're educating our children.