Being sensible with Buy Now Pay Later this silly season
A survey by Mozo reveals that 30% of Australian adults have one or more BNPL accounts and we’re not afraid to use them. With the nation set to splurge around $25 billion on Christmas, it’s a safe bet that plenty of that spend will be by BNPL.
But with 60% of those surveyed by Mozo admitting that BNPL lead them to buy things that they wouldn’t have otherwise, it begs the question: how to use this payment option sensibly during the silly season?
Plan now for an Earlier Retirement
The average age people start planning and thinking about life after work is 61, according to a new analysis of 3000 people by retirement planners The Moreton Group. This means most are missing out on retirement riches by waiting at least a decade too long to start serious planning. For many people, 40 should be the new 60 to start thinking about retirement and its massive tax benefits available.
Superannuation: how does it work in Australia
Superannuation is money that you save during your working life to use as income when you retire. Like any other investment, the intent is to increase your super account balance, over the long term, while you’re still working. Once you’ve reached retirement, your super savings are generally converted into a pension, providing a regular income for you to live on.
Understanding how superannuation works in Australia, will help you ensure your money’s being managed the way you want it to.