Blog

December 10, 2018
“Tap and go” and then what?

It is commonly reported in the press that Australians are suffering under growing levels of personal debt. With the growing use of the easy “tap and go” technology it may look like it can only get worse.

December 7, 2018
When scammers come back for more!

Scams and the numbers of those falling victim to them are increasing. This article explains what to do if targeted and explains another threat – follow-up scams.

December 3, 2018
Protect yourself through superannuation

We take a look at the advantages of keeping insurance policies within superannuation.

November 30, 2018
4 good places to stash your cash

If there is a good chance you will receive a tax refund this year or by being thrifty you have accumulated some extra cash in your everyday account, try to contain the temptation to splurge or celebrate; instead make it work harder for you.

November 29, 2018
Reclaiming your money from the government

We’ve all heard about the “lost billions” sitting in idle superannuation funds around Australia but are you aware of what’s happening to hundreds of millions of dollars sitting in “inactive” bank accounts? Read on, you may be very surprised.

November 20, 2018
Christmas on credit

Christmas is a time of giving and receiving, but as we approach this most dangerous time of the year for credit cards we’d like to give you a quick refresher on the best ways to use your plastic so you don’t end up with a Christmas hangover of the financial kind.

November 16, 2018
Time to cool off

Have you ever awoken the morning after signing a contract for something and thought “Oh, no! What have I done?” Well, it may not be the end of the world. If the contract contains a cooling-off period, you probably have a way out of it.

November 15, 2018
How much money do you throw away?

Australians are literally throwing away coins rather than spending or saving them. This article highlights this issue and recommends some ideas to reduce wasting money; whether it is as coins or other expensive habits.

November 12, 2018
8 ways to help kids with their money

Attitudes and activities are changing much earlier than in previous generations, so, for the sake of their future well-being, it’s important to introduce your children to the intricacies of money management from an early age.

November 9, 2018
Good cash flow makes life easier

If you rely on your investments for income, an important aspect of managing your portfolio is cash flow. Correctly structured cash flow is critical, so let’s have a look at what you might need to think about.

November 8, 2018
Good records save small businesses

According to the Australian Taxation Office (ATO) many small businesses fail due to poor record-keeping. Aside from the legal reasons, there are many financial reasons for making sure your books are in order.

November 2, 2018
A place in-between

Not sure how to balance the transition between work and home life? Read the article below to find out more.

November 1, 2018
Veggie gardens are great for your wealth

Creating a vegetable garden is a boost for sustainability and is great for your taste buds and a healthier lifestyle

October 30, 2018
What to do if your job is made redundant

Being retrenched from your job can be hard to accept. It is the sudden shock that catches most people but try not to take it personally. Discussed in the article is what to do about mortgages, Centrelink entitlements, how best to deal with a redundancy payment.

October 26, 2018
What you perceive you believe

When it comes to choosing to invest in property and shares, many issues are the same. Read this short article for more information.

October 26, 2018
Baby Budgeting

Welcoming a new family member is exciting but with so many aspects of your life changing, when it comes to your finances some forward planning can make the transition so much easier.

October 23, 2018
Moving overseas? 3 key areas to address first

Moving overseas to work or retire? There are many areas you must address before you leave and some will need ongoing attention.

October 19, 2018
Making Christmas a time of joy for you

The stress involved in organising and preparing Christmas meals, buying gifts or arranging a Christmas party can have the opposite effect to what most of us would like to achieve at this time of year.

October 17, 2018
Working from home – is it better for your lifestyle?

The increase in home-based businesses has been monumental in the past decade with now almost one million Australians earning an income from home.

October 15, 2018
An important conversation

Older people tend to be very private around subjects like their finances, estate planning and aged care, etc. This article provides information around what you should be discussing with an elderly relative, and how to open a two-way conversation that puts everyone’s mind at rest.

October 8, 2018
Start saving with Christmas

As we approach Christmas, the season most celebrated with food and beverages, it’s a good time to take stock of just how much we spend, and subsequently waste, on food throughout the year.

October 8, 2018
Have a plan - just in case

It’s an old saying but it will be forever true – “the only constant in life is change”. Whether it’s due to economic downturns, new technology or extreme weather disasters; no business, job or career will ever stay the same.

October 7, 2018
Making your money work harder

Long-term savings plan, online savings accounts and fixed term deposits will not generate much growth. Managed funds, can have a higher potential to surpass cash and fixed term investments.

October 4, 2018
6 smart ways to build savings

The word “thrifty” is rarely thought of in a positive sense but that’s not fair because if we continually spend more than we earn, our debts will eventually catch up and other words such as “default” or “bankrupt” might become more familiar.

September 26, 2018
A different way to help the grandkids

Many grandparents want to give their grandchildren a head start in life, either contributing towards their school fees or setting aside funds in an account. These are just some options, but there might be a better one.

September 24, 2018
Adult kids still at home?

Remember a time when kids couldn’t wait to leave home so they could have their own “pad”? Those days are definitely over with one and half million adult children now preferring to continue living with Mum and Dad well into their late twenties (and sometimes older!).

September 20, 2018
Save money while you travel

You don’t want to miss great opportunities while you’re away but then again you don’t want to face a mammoth credit card bill upon your return. Here are a few ideas to help make your dollar go further while abroad.

September 13, 2018
It’s never too early to start

When teaching your children to manage their money you are helping your kids grow into financially savvy adults. You might even learn something about your own money habits along the way.

September 3, 2018
5 simple ways to reduce your tax

The one thing that has constantly changed is tax law, and although death is impossible to avoid, with the many options available to us, taxation doesn’t need to inflict too much pain.

August 31, 2018
7 tips to protect your identity

We are constantly hearing reports about the rise of personal fraud in Australia, but have you ever looked at the figures?

August 27, 2018
4 ways to manage uni and money

Going to university should be a time of excitement, learning and independence. For too many students, money problems get in the way leaving them financially burdened for years to come. This article explores suggestions for planning and budgeting that can be the difference between getting by and getting ahead.

August 14, 2018
Design your own super adventure

Superannuation funds allow members a level of choice in relation to how the money is invested, which means it can be up to you to create what your retirement adventure might look like.

August 14, 2018
Take advantage of NOW!

Many young people in the X and Y Generations are earning excellent incomes but have little savings, excessive debt and consider the future too distant to be of concern.

August 7, 2018
3 ways to give your kids a headstart

When it comes to helping your children or grandchildren get a financial headstart in life there are so many options available however your generosity could create tax issues down the track. Here we explore this topic from a few different angles, depending on how you wish to help them.

August 7, 2018
Taking care of business

Owning a business has its distinct advantages. Choosing your work hours and being able to make decisions for your own future are just two, but this higher level of freedom takes a back seat when things go wrong… and as any business owner knows, things can and do go wrong just like in any other pursuit in life.

August 7, 2018
How to make friends with your credit card

The pictures are enticing: ocean blues and hibiscus pinks; white beaches; nightclubs. For twenty-somethings, tropical holidays are rites of passage few can resist; fewer still can afford them – even if we think we can.

July 13, 2018
Preparing for tomorrow

Imagine you were no longer able to look after your financial affairs, or, less dramatically, simply found it an increasing burden to manage your money. How easy would it be for a trusted family member to step in and help you?

July 13, 2018
Thinking about finances in your thirties

Whatever the goal, reaching age 30 is a turning point for many of us. Whilst it may mean life is getting more serious, by the time we’re in our 30's we’re keen to retain our individuality and remain determined to have fun. With a little planning you can make this new decade even more enjoyable.

July 13, 2018
Financial tips for single parents

Making ends meet can be difficult enough for two-parent families, but for single-parent families it can be even harder. With a few small steps you can be on the path to financial security.

July 13, 2018
Balancing Life, Work and Money

Work-life balance. It’s something everyone seeks but achieving it can seem an impossible task. Not only does the ideal balance vary from person to person, it can change frequently throughout life. If your wheel of life has developed a wobble, it might be time to do some repairs to regain stability for the journey ahead.

July 13, 2018
Holidays without financial baggage

We all need something to look forward to and for many members of Generation X the lure of discount airfares and package deals are irresistible; others have luxury holidays high on the agenda.

July 13, 2018
Buy now; pay later; manage carefully

Before heading off on an overseas holiday, Sam decided to buy an expensive new camera to document his travels. The camera store offered a ‘buy now, pay later’ option, and attracted by the ‘no interest’ promise of the credit provider, Sam signed up.

July 6, 2018
What is responsible lending and why does it matter?

Whether it’s due to over-enthusiastic lenders or desperate borrowers, failure to adhere to robust lending standards can land some borrowers in serious financial distress. In many cases the difficulties experienced by these borrowers could have been avoided if the lenders had complied with their responsible lending obligations.

June 22, 2018
Amnesty for historical underpayment of Super Guarantee

The government has announced that it is introducing a one-off, 12 month amnesty for historical underpayment of super guarantee.

June 15, 2018
Why Australian interest rates could stay low for decades… and what that means for your investments

Many investors fear the impact of a return to interest rates of 5%, 6% or even 7%pa that were considered normal just a few years ago. They worry about the impact on share and property markets, they worry about locking fixed rate term deposits and annuities and missing out on the big rate rises to come.

June 15, 2018
Take Control with Your Personal Wealth Portal

BCV are excited to announce the upcoming release of our new client wealth portal. Powered by state of the art app ‘My Prosperity’, our wealth portal will allow clients to:

June 15, 2018
Is it time to review your home loan?

In early June, for the 20th consecutive month, the Reserve Bank left interest rates on hold. That doesn’t mean you shouldn’t be reviewing your existing loans, or exploring investment opportunities. More often that not, there’s a better deal available, and we all know any saving is better in your pocket than the bank’s!

June 8, 2018
What is a market index and how might it affect your investments?

Investors who pay attention to the finance segment of the daily news may be gazing in awe at the performance of the US share market. Even taking into account the fall in early February, the Dow Jones Industrial Average has astounded veteran commentators worldwide with its monumental growth over the last 12 months. Meanwhile, the Australian All Ordinaries Index has yet to return to the height it enjoyed before the Global Financial Crisis at 6779.1 points.

June 8, 2018
Super in your 60s. It’s still not too late!

For most Australians, their 60s is the decade that marks retirement. For some this means a graceful slide into a fulfilling life of leisure, enjoying the fruits of a lifetime of hard work. However, for many it means a substantial drop in income and living standards. So how can you make the most of the last few years of work before taking that big step into retirement?

June 1, 2018
How did the media get it so wrong?

In 2017 the paid professional media that we rely so heavily on for our daily dose of "news" was adamant in many headlined articles that Melbourne was going to be in a massive property oversupply situation, causing a jump in rental vacancies and a huge price crash.

May 18, 2018
Want to give away your assets? There are rules.

If it’s crossed your mind to look at ways to reduce the value of your total assets to be eligible to receive an age pension benefit, you should be very careful. There are strict rules governing what you can give away and when.

May 18, 2018
What is a Child Maintenance Trust?

When relationships break down, child maintenance payments are often made from post-tax money. If this is a position you are facing, perhaps you might be interested in learning about a Child Maintenance Trust.

May 4, 2018
The secret to ‘living the dream’

We all, to a greater or lesser extent, have an idea of our dream lifestyle. So how, as a nation, are we faring? To find out, the Financial Planning Association of Australia (FPA) commissioned a survey of more than 2,600 people from around the country. The resulting Live the Dream report provides an insight into the extent to which we are collectively living our dream life and, more importantly, reveals key habits and characteristics of those who are already doing so.

April 27, 2018
Debunking the myths around tax-paid 'investment bonds'

An investment bond is a managed investment, usually operated by an insurance company or friendly society, where your money is pooled with money from other investors and invested in the investment options each investor chooses.

April 27, 2018
Warning for SMSF trustees: New super pension cap of $1.6m now in place

The maximum amount of superannuation that can be used to fund a tax-free pension in retirement is now restricted to a cap of $1.6 million per member.

April 27, 2018
Australians at higher risk this year of being penalised for exceeding superannuation contribution limits

Changes to the superannuation rules in effect for the 2017/18 financial year are designed to further limit the amount of money Australians can contribute to the tax advantaged superannuation system.

April 27, 2018
Why most adults should consider appointing an 'enduring attorney' to safeguard their finances

An enduring power of attorney is a formal instrument by which one person empowers another person to act on their behalf for certain legal and financial purposes (e.g. dealing with bank accounts, transferring money, paying bills, dealing with investments, or buying and selling real estate) when they are unable to manage their own affairs.

April 27, 2018
2018 has seen sharemarket volatility return. Be alert - not alarmed – as the prospect for global sharemarkets remains positive.

Sharemarkets, so far in 2018, are providing a contrast to the robust returns enjoyed by investors in 2017.

April 20, 2018
Deductions — lower your tax liability

When it comes to getting the most (money) from your annual tax return, there is usually a lot to think about, so we’ve identified a few options that could open the door to some opportunities to save on tax. The key here is to plan ahead.

April 13, 2018
Managing the “suddenly” of “suddenly single”

Single women make up a growing demographic for many different reasons. Regardless of what stage of life you are in, sound financial advice and strategic planning can set you on the path to financial independence and reducing the negative impacts of becoming “suddenly single”.

April 13, 2018
Taking your credit card on holidays

Credit cards are part of our everyday lives, but as much as these bits of plastic can make our lives easier, they can also cause a lot of grief, particularly when we’re travelling.

April 6, 2018
How to protect your credit rating

If you think that being only a few days late making a payment on a loan doesn’t matter, think again. Even the smallest lapse could potentially affect your credit worthiness.

April 6, 2018
You’ve paid off your mortgage! Now what?

Paid off your mortgage? Woo-hoo! Break out the champagne and celebrate the freedom you must now feel! But once the dizzy excitement has passed, what will you do next?

March 20, 2018
Lending money to friends or family – should you do it?

What would you do if a family member asked to borrow money – besides the less painful option of beating yourself over the head with a fence paling? You want to help, but you’re right to be wary.

March 18, 2018
Tax concessions favour small business

Every small business owner knows what it takes to turn a profit so when there’s an opportunity to increase profits by using tax deductions, grab it with both hands!

March 17, 2018
Building your ‘Family Future Fund’

How much does it cost to raise a child? Obviously the answer is highly dependent on individual circumstances. However, as a guide, a 2013 national study[1] found that a typical middle income family would spend about $812,000 on raising two children from birth to age 24. At that time child-raising costs were increasing at around 9% per annum, so it’s a reasonable estimate that these days the cost of getting two kids to the point where they’re ready to leave home (that’s not to say that they will) is closer to $1.1 million! And that’s a middle of the road figure.

March 15, 2018
7 tips to protect your identity

We are constantly hearing reports about the rise of personal fraud in Australia, but have you ever looked at the figures? The federal government’s website dedicated to monitoring and reporting scams, Scamwatch, tells us that there were 161,572 reports of Australians being scammed out of more than $89 million dollars in 2017!

March 2, 2018
The financial difference for women

Recent decades have seen huge gains made in the financial empowerment of women. However complete financial equality won’t happen soon and in some cases may be unattainable. So what are the areas where women lag financially, and when it comes to retirement planning, what can be done?

March 2, 2018
Does money bring happiness?

The short answer is ‘yes’, but only up to a point. People in richer countries are, collectively, happier than people in poor countries. Within countries, people with higher incomes are generally happier than people on low incomes. Surprisingly, once basic living needs are met, the amount of happiness gained from each additional dollar of income rapidly declines.

February 23, 2018
Do you know your credit rating?

If you have borrowed money, whether as a loan or even signed a mobile phone contract, you have earned yourself a credit history. Each time you apply for further credit, the lender will run a check on your credit file to determine the level of risk they take on by lending you money.

February 22, 2018
Getting Your Bills Paid on Time

Running your own business can be extremely rewarding but there will always be times when it will be quite the opposite. Depending on the business, many factors will determine the success or failure of a small enterprise however the most common is cash flow. Outlined below are three very simple solutions to cash flow problems to help make your business ownership more rewarding.

February 22, 2018
If you think you’d never fall for a scam, read this…

If you are over 50, male, highly educated, financially literate and manage your own super, beware. You’re at a higher risk of being the target (and victim) of organised investment fraud.

February 22, 2018
Claiming Expenses on Investment Property

Rental properties often need upkeep and sometimes, more significant repairs. However, in the eyes of the Australian Taxation Office, not all types of expenditure are equal!

February 16, 2018
Thriving in the ‘Gig Economy’

If you’re a freelancer or contractor or maybe even a consultant then you’re part of the “gig economy”. Gone is the job for life, or even a job in the normal, employed meaning of the word. For you, work consists of short-term contracts or a series of one-off jobs. “Gigs” as the band down at the pub might put it.

February 16, 2018
It's Never Too Early to Start

Children see money nearly every day, and as they become old enough to recognise the currency value on coins and notes they’ll want to start counting – just be mindful that very small children and coins don’t mix well. If you decide to give children pocket money or to pay them for doing age-appropriate chores, encourage saving by giving them a money-box. Get yourself a money-box as well and each time your child puts money away, do so yourself – and vice-versa. It could be fun!

February 8, 2018
BCV 2017 Christmas Archery Party

Our 2017 Christmas party was held at Aim Archery in Moorabbin. It was an action-packed day, led by Alec Potts, Olympic Bronze Medalist from the 2016 games. We started by learning the basics of shooting the bow, then progressed to target practice, followed by a team shooting competition.

December 14, 2017
Why more investors are opting for brokers.

A recent survey conducted on Australian property investors revealed that they are increasingly turning to mortgage brokers for lending, with 75% of investors stating that they had used a broker, and 83% of investors intend to use a broker when seeking their next loan.

December 1, 2017
Australian banks still worthy of a place in most portfolios… despite what some commentators say

Barring disasters, the banks should produce returns of the order of 10% per annum over the next decade. With a yield of 8% including franking credits, we need just 2% per annum growth to get us to a 10% per annum total return. Even if we get no growth in earnings, an 8% per annum return means that banks will be worth a place in most portfolios - barring disasters.

November 30, 2017
A Reminder to Update Beneficiary Nominations for Your Super

When major life events occur in your life, such as divorce or starting/ending a de facto relationship, updating your nomination of beneficiary for your superannuation fund may not be high on your priority list.

November 8, 2017
Think it's too hard to sort your super? Think again!

If you have ever changed jobs, addresses or lived overseas, then it’s possible that you have lost track of one or more of your funds at some stage. Different employers often have different funds of choice when you have not personally nominated which fund want your Superannuation to be paid into, so it’s easy to end up with several accounts - especially if you move around a lot.

October 18, 2017
One third of Australians are lazy borrowers and some are entirely clueless about their mortgages!

Australians have a reputation for being serious about sport, barbeques and cars, but when it comes to being serious about their home loans, one third of Australians are wading in the quagmire of lazy borrowing – and 11% of Aussies may not even know what kind of home loan they have!

October 16, 2017
Do you really know how much your business is worth?

Many businesses for sale are listed at highly optimistic asking prices. Most business owners find it hard to be impartial because they have poured a lot of time and energy into the business and they may be relying on selling it to fund their retirement.

October 10, 2017
Small business owners - would your business stay afloat if you had extended time off work?

Imagine if you were in the unfortunate situation where you had to take many months or longer away from your business due to a serious illness or injury. Would revenue keep coming into the business… or would the revenue dry up without you there?

October 6, 2017
What is a Comparison Rate?

When an interest rate is advertised on a home loan, have you noticed there is a comparison rate beside it? Many people just focus on the interest rate and don't notice the comparison rate or even know what it means, when in reality it is a useful tool to help compare the cost of different loans.

September 28, 2017
Recent Census data highlights substantial changes to property in Australia. How will this affect investors?

The 2016 Census property data shows that there have been rapid changes over the last 5 years. Some of it could have been assumed, but some of the trends have accelerated and are ahead of government policies designed to manage property demand for the various demographic sectors of society.

August 16, 2017
How having no will, or an invalid will, can cause unintended problems for your loved ones.

A commonly held myth about wills is that if you do not have one, all your estate goes to the government. While that is not quite true, the reality may still surprise many.

July 24, 2017
Are interest rates unnaturally low? Or are they where they should be?

We hear the claim that interest rates have been kept unnaturally low by Central Banks around the world with the clear implication that no good will come of this and, before long, they will be forced to take them back to more natural levels. These comments ignore the actual role of Central Banks. Their mandates are typically to keep inflation under control and to keep employment full...

June 13, 2017
Upcoming Stamp Duty Changes Round Up

The Victorian State Government has recently announced changes to stamp duty concessions – these changes will be taking effect from 1st July 2017.

June 13, 2017
Small Businesses with outstanding tax debts should prepare for looming disclosure to credit reporting agencies.

In a move that could affect the credit rating of small business owners, the ATO has announced that they will be sharing data with credit agencies pertaining to tax debts from 1st July 2017.

June 5, 2017
A quick glance at how the new superannuation rules could affect you.

The recent changes to the superannuation rules are designed to further limit the amount of money Australians can keep in the tax advantaged superannuation system. So, where does that leave you for your superannuation planning for this financial year? Here’s a brief summary of the key issues:

May 29, 2017
RentVesting – What is it and why has it become so popular?

RentVesting is where a person acts as a Landlord and a Tenant – by renting out a property they have purchased, and simultaneously paying rent for the place they are living in. There are two main categories people fall into when RentVesting – the ‘accidental’ and the ‘strategic’.

May 29, 2017
Should you get private health insurance?

With cost of private health insurance increasing every year, many people are asking themselves “is it worth it?” The answer to that is “it depends”. Ultimately, this decision is both an emotional and financial one. There are several factors to consider from a financial perspective when deciding to take out private health insurance – the ‘Medicare Levy Surcharge’, ‘Private Health Insurance Rebate’, the cost of the hospital insurance policy and ‘Lifetime Health Cover Loading’.

May 11, 2017
The Federal Budget In a Nutshell

As most are no doubt aware, the Federal Treasurer, Scott Morrison (or ScoMo as he’s been labelled on social media!) handed down the government’s budget for the 2017-18 year earlier this week. Much of the media commentary tends to focus on the political angle of course, and the number of years until the government coffers are expected to return to surplus (for those interested, they predict a surplus in 2020-21, a vast improvement on the expected deficit of close to $30b next year).