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  • The best way to set-up and maintain your Superannuation fund | Which4U Australia - Money Blog
    contributions made These limits can change annually so check with your superannuation fund or the Australian Tax Office to find out Should employees contribute too If you have more disposable income than you require and feel you are in a position to save this money towards your future it may be wise to consider making superannuation contributions as opposed to investing it elsewhere There are age limits that dictate whether or not you can contribute to superannuation For more information on this see the Australian Taxation Office web site Some of the advantages are You generally pay less tax on interest accumulated from self managed super funds than you would on interest from a bank although it is worth looking into a decent savings account as interest rates can work out higher thus providing better rewards in the long run The salary sacrifice scheme automatically takes the the superannuation contribution from your salary which eliminates the possibility of you being tempted to spend the money on anything other than savings The interest on superannuation savings is added onto the total investment so effectively the interest earns more interest The Australian Prudential Regulation Authority APRA estimates that a sum of money compounded at 7 a year will double in value in ten years You may be able to take advantage of Government incentives offered such as the co contribution scheme This scheme allows you to be given up to 1500 from the government when you contribute to your fund Go to the Australian Taxation Office web site for details Tax Advantages The maximum tax rate for contributions made by your employer is 15 The income earned through the fund s investments is also taxed at a maximum rate of 15 Salary sacrifice contributions are taxed at 15 When an employee reaches

    Original URL path: http://blog.which4u.com.au/savings-accounts-2/the-best-way-to-set-up-and-maintain-your-superannuation-fund (2016-02-17)
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  • Comment: Ents and Entrapment | Which4U Australia - Money Blog
    this same self adulation has consumed the boardrooms of Australian banks in recent years A move by St George Bank to lower lending rates on 1 year 2 year and 3 year fixed rate home loans must be deemed admirable in a climate where banks have cried poverty like a broken record despite ironically record breaking profits But it should equally ensure that the wool that has constantly been pulled

    Original URL path: http://blog.which4u.com.au/bank-accounts-2/ents-and-entrapment (2016-02-17)
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  • ANZ | Which4U Australia - Money Blog
    home loans must be deemed admirable in a climate where banks have cried poverty like a broken record despite ironically record breaking profits But it should equally ensure that the wool that has constantly been pulled over consumers eyes is at last fully removed Read more at Which4U Tags ANZ bank accounts home loans St George Bank Posted in Bank Accounts Home Loans Comments Off on Comment Ents and Entrapment

    Original URL path: http://blog.which4u.com.au/tag/anz (2016-02-17)
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  • bank accounts | Which4U Australia - Money Blog
    that the wool that has constantly been pulled over consumers eyes is at last fully removed Read more at Which4U Tags ANZ bank accounts home loans St George Bank Posted in Bank Accounts Home Loans Comments Off on Comment Ents and Entrapment Fee Driven Banking Products Taken to Task Monday November 14th 2011 Are we being taken for fools on the essential banking products that we choose An interesting parallel has emerged between Australia and the UK in the world of personal finance an enquiry into value for money on fee driven banking products Australia Credit Card Fees About half of all Australian credit card holders are getting no value from their credit card rewards because of fees it was reported last week In most cases annual fees are outweighing the value of rewards such as air miles and only very high levels of spending roughly 60 000 per year could make such benefits count Contrast this with the average annual Australian credit card spend of 17 000 which itself is artificially heightened by very high spenders and we see the degree to which fees outstrip potential rewards A monthly spend of 1 000 could see fees exceed potential benefits

    Original URL path: http://blog.which4u.com.au/tag/bank-accounts (2016-02-17)
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  • St George Bank | Which4U Australia - Money Blog
    rate home loans must be deemed admirable in a climate where banks have cried poverty like a broken record despite ironically record breaking profits But it should equally ensure that the wool that has constantly been pulled over consumers eyes is at last fully removed Read more at Which4U Tags ANZ bank accounts home loans St George Bank Posted in Bank Accounts Home Loans Comments Off on Comment Ents and

    Original URL path: http://blog.which4u.com.au/tag/st-george-bank (2016-02-17)
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  • Fee-Driven Banking Products ‘Taken to Task’ | Which4U Australia - Money Blog
    much as a third in value even before interest is factored in UK Packaged bank accounts In the UK it is packaged bank accounts that are under scrutiny These tend to include add ons such as travel insurance mobile phone insurance and breakdown cover for a monthly fee The number of packaged accounts on the market has more than doubled in five years and almost one in five active adult accounts in the UK is packaged according to data analysts Defaqto But they have come under scrutiny in recent weeks as banks are not believed to be doing enough to ensure that the products are suitable for the customer The leading UK financial regulator the FSA has proposed rules for banks and building societies who sell these accounts to ensure that customers require the additional policies and that they are adequately covered by them One third of consumers with packaged accounts make no use of the additional benefits it is estimated Some may not even be covered by the policies A Fool No More Fee driven banking products are at least partially a by product of banks and their operatives acting under pressure to find additional sources of funding Redistributing the fee reward ratio in favour of the banks is a brisk way to make additional profits on popular products There are now clear signs however that many of these fee driven products are not always suited to consumers needs Australian consumers might do well to assess the structure of credit card deals and carefully consider the fee to benefit ratio to see if their average credit card spend will work out in their favour See if Which4U can help you find the right credit card with smaller fees and help your money go further Keith McDonald Tags bank accounts

    Original URL path: http://blog.which4u.com.au/credit-cards/fee-driven-banking-products-taken-to-task (2016-02-17)
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  • Home loan competition ‘heating up’ | Which4U Australia - Money Blog
    Australian banks are preparing to woo home buyers with discount home loans in an effort to stimulate the housing market despite talk of more interest rate hikes With the ban on home loan exit fees coming into effect on 1 July industry competition is expected to intensify with a number of cut price deals being launched in an attempt to attract customers Credit unions have also moved in to get a piece of the action with Credit Union Australia unveiling a 3 year fixed rate home loan at 7 14 Meanwhile Aussie Home Loans has cut its variable rates to 6 99 for new clients InfoChoice spokesman Dirk Hofman told the Australian From a choice point of view if you look at the choice consumers have whether they can get a better deal there s definitely more choice out there now than there was at least two years ago Mr Hofman said that competition will heat up over the next few years as firms push each other to new standards while more companies are expected to return to the housing market which will be boosted by the freer availability of financial support Share This Post Comments are closed This entry

    Original URL path: http://blog.which4u.com.au/home-loans/home-loan-competition-heating-up (2016-02-17)
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  • Investment Opportunities for the Coming Decade | Which4U Australia - Money Blog
    sugar will be left out of the general increase in food values Food is also a challenging investment option because its nature makes it difficult to hold directly for long term investing Foodstuffs after all are organic products that are subject to decay Food investors must usually purchase investment vehicles rather than the product itself Precious Metals as an Investment The situation is different with precious metals such as silver or gold The worldwide gold price is not subject to regional variations as food prices can be and since precious metals do not decay investors can purchase gold bullion and store it in a safe in their homes if they wish This investment strategy also has drawbacks of course the chief one being the possibility of theft One solution to the theft problem is to buy gold online Using this strategy investors work with an online firm that helps them access various bullion markets around the world Such firms provide their clients with information about the current gold price assist them with buying and selling as needed and even help them store their precious metals investments in secure vaults in cities such as London New York and Zurich Clients who decide they would prefer to hold their gold directly usually have the option of withdrawing their bars at any time Buying gold online can also have other advantages Trading in coins for example may require investors to purchase gold in very limited quantities such as the quarter ounce Investors who wish to purchase large quantities of gold may need to complete dozens of transactions but working with an online firm enables clients to purchase any quantity of gold bullion they wish any time they want With economic uncertainty increasing investors should begin to consider which types of financial vehicles will

    Original URL path: http://blog.which4u.com.au/savings-accounts-2/investment-opportunities-for-the-coming-decade (2016-02-17)
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