This question was sent in by Declan a while back, but it is one that crops up in my inbox relatively consistently as well, so I thought back to what I did and what I would do if faced with the situation he is proposing again.
All by Ruth
Why and How I Changed Banks
Each week I receive great emails from YOU where you ask me all sorts of questions regarding life and money. Tim got in touch asking about how to go about changing banks and he had the following questions…
Lifestyle Property vs Lifestyle
I have fielded the question “why don’t you buy a Lifestyle Property?” more times than I can count. I actually have this cracking rural lifestyle on 900m² because I live at the end of short cul de sac in town. I could have bought a 10 acre plot on the outskirts of town but I would be stretching myself financially (and physically) to do it.
I cut up my credit card!
At age 44 it feels like a bit of a milestone, to finally turn my back on ANY access to credit and lending of any kind. I seriously feel a bit like a grown up now and I’m kicking another Australian owned bank to the curb and chopping up my credit card.
Stock Market Blip - Hold your course!
I have reached a point where I’ve learned a bit more about myself. When I heard that the stock market had “plummeted” it actually didn’t unnerve me at all. Warren Buffet would say that I have not lost anything, because I didn’t sell, the value of my investments has simply changed and by my calculations, I’m down 4%. If I freaked out and sold then I would have locked in my losses. But I didn’t and I won’t.
Book Review: The Barefoot Investor for Families
Once WE as adults become better with money then it’s natural that we want to enlighten our kids, grandkids, nieces and nephews so this book is a must read in my view because it guides you through the steps of how to do it WITHOUT annoying the hell out of the child.
His only question was "does it have payWave"?
My 16 year old nephew needed a bank account, so I said I would help him out if he wanted me to. An aunt who loves anything personal finance related could not bear leaving a 16 year old in charge because I knew that absolutely NOTHING would happen. So I devised him his very own “master banking plan”.
Sharesies for Kids
I don’t subscribe to the view of “leaving my daughter to it”; that when she is old enough she can earn her own money and save for herself and she will miraculously become wealthy. In my view starting young, learning how money works and investing over a long period of time is the way to get ahead.
All The Single Ladies
I received an email in August from a woman who finds herself moving on from a 20 year marriage. She is discovering the freedom of now going it alone, but the journey is certainly not an easy one.