Smart Money Weekly; How deductions work, suck at saving, & creating passive income to give back
Hey,
Happy Sunday.
Check out our top money tips of the week here.?
Tax hack of the week
How tax deductions work in Australia: If you don't understand tax deductions it's impossible to get your fair share back in your tax return at tax time.
Investing hack of the week
How to invest without risk: Saving money in a bank account is a safe option, but it's also not going to get you rich. It's a common investing frustration when you want a better return but are not sure how to get it without taking on too much risk. Here i cover how to increase your investment return and how to think about investment risk.
Saving tip of the week
Why you suck at saving money: saving money isn’t easy, and our money psychology pushes us to make poor choices that often slow down our progress getting ahead, here I unpack what you can do to make saving money easier.
Property tip of the week
How to make your mortgage tax deductible: You don’t get a tax deduction for paying your mortgage on your home, but you can if you use debt recycling to invest and create tax deductions.
Client story of the week
Couple 32 & 33, income $160k, saving $3k/m: Having the freedom to retire doesn’t mean you want to stop working. These clients were looking to create financial independence so they could give back by working full time with a charity and spending more time with family. No matter what your definition of money success, your wealth is the thing that dictates your possibilities.
Money hack of the week
How to get your slice of Australia's $1.5b lost money pool: The government has just announced theres $1.5 billion in unclaimed money up for grabs, here for The Morning Show on 7 we chat about how this money goes missing and how you can claim it.
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Podcast drop
Learn the tips, hacks, and strategies to help you level up your money game. Pods released last week:
In the News
‘Big trouble’: $783k property mistake: Buying your first property is never easy. But one common mistake could easily see you paying hundreds of thousands more than you have to.
To your success,
Ben
PS – Whenever you’re ready, I want to help get more money in the best way for YOU. There are six ways we can do this together:
1. BOOK >> Replace Your Salary by Investing: Your start-to-finish game plan to save more, invest smarter, and maximise your money. Get it on Amazon | Booktopia
2. Smart Money Accelerator: Our money coaching and training service that helps you build a second income investing faster and unlock your financial potential. Join here
3. Personalised financial advice: If you want a customised plan to get more out of the money you have today AND the support to rapidly turn it into results, 1-1 advice might be for you. Book a call to learn how this can help you here.?
4. Live online events: We put on free money education events to help you level up your money. Upcoming events here.
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Disclaimer: The information in this note is not personal advice, a guaranteed pathway to that elusive beach bod, or the lost script of Edna St. Vincent Millay's Pulitzer Prize-winning Conversation at Midnight. This is just a bulk communication pushed out into the internet, and it doesn't even have your name on it. Your personal situation, needs & objectives, and financial situation have not been considered in putting this together - nor have we considered your dietary preferences, the way you like your hair cut, or your favourite travel destination - but we have spent a lot of time thinking about the future of urban society, whether there is other intelligent life in the solar system, and the pervasion of soy and linseed bread in Australian metropolitan hubs. You should consider the appropriateness of any general advice in relation to your own objectives, financial situation and needs and seek advice before taking any action. You should also consider using a variety of eau de toilette fragrances to keep your partner interested and colleagues on side, not using plastic straws, and minimising your screen time. Where information relates to a financial product, you should read and understand the relevant product disclosure statement. Where information relates to your own potential for awesomeness, you should consider backing yourself totally and completely. Past performance is definitely not an indicator of future performance when it comes to investments and financial products, as well as the likelihood of your children sitting still and quiet for an hour being satisfied playing with a used piece of wrapping paper. Financial services guide.