Banking and credit scams
If someone you don't know asks for your personal details or offers you a loan, it could be a scam. Scammers can use your personal information to steal your money and run up debts in your name.
Identity theft - Protect your personal information
If your personal information falls into the wrong hands, it can be used to steal your identity.
If you've been affected by the recent Optus data breach, the Office of the Australian Information Commissioner has information on how to respond to a data breach.
The ACCC's Scamwatch has released information on the latest scams arising from the breach.
It's important to:
report the breach to your bank and super fund
change your passwords
be on the lookout for suspicious emails, phone calls, texts or messages through social media
keep close watch on your bank account for any unauthorised transactions
request a temporary ban on your credit report to ensure no unauthorised loans or applications
Natural disasters and your home insurance
It's devastating when a natural disaster destroys or damages your home. Finding out you don't have enough insurance can add to your distress.
Understanding what events and damage are covered by insurance can help you get the right cover for your home.
Knowing if you live in a disaster-prone area can give you a better understanding of your risk. This helps you choose coverage for the events that are most likely to happen to your home.
Read full article
Working for Yourself and Making the Right Start
As well as enjoying the benefits of self-employment, you'll need to take care with money matters. Find out how to make the right start here.
Manage the cost of living
Having a plan will help you feel more prepared if your living expenses increase. Click the link here to read more on the practical steps to help you manage living costs and keep on top of bills and to check on support and services available if you're feeling overwhelmed.
Investing in Bonds, Understand How Bonds Work, and Avoid Scams
Bonds can provide a stable source of income and can protect the money you invest. They are considered less risky than growth assets like shares and property, and can help to diversify your investment portfolio.
Click here to read full article.
Choosing an accountant
When choosing an accountant, look for one that will suit you or your business. Some accountants specialise in tax returns for individuals or for businesses in a particular industry, and others are experts in a particular area of tax.
Find out more on what should you consider in selecting an accountant that fits you.
How to navigate your way through debt and financial hardship
If your bills or loan repayments are getting out of control, talk to your lender or provider about your options. Taking action straight away can stop a small problem from becoming a big one.
Click here for some practical steps you can take to get your finances back on track.
Warning: Scammers offering fake green bonds
ASIC is alerting investors of the existence of a number of fake green bonds.
In Australia, green bonds are not directly available to the general public or retail investors. Any website or entity claiming otherwise is a scam.
Scammers may represent themselves as well-known financial services firms and invite people to invest in fictitious environmentally sustainable green bonds.
ASIC is aware of the existence of a number of fake green bonds. Green bonds are bonds that are used to finance new and existing projects that offer climate change and environmental benefits. They can be purchased by superannuation funds, fund managers, insurance companies and other wholesale entities, but are not directly available to the public.
Investing and tax - How income from your investments is taxed
Lower tax on your investments can help you reach your financial goals sooner. But don't choose an investment based on tax benefits alone.
You need to include investment income in your tax return. This includes what you earn in:
interest
dividends
rent
managed funds distributions
capital gains from property, shares and cryptocurrencies
Alert: Impersonation scams using fake contact details
ASIC is alerting consumers to a rise in investment scams impersonating companies or financial investment firms.
Scammers often make contact through Gmail and Outlook email accounts.
Contact details of the scammers do not match the information published on the legitimate company’s website.
Memory loss, dementia and your money
Memory loss can make it difficult to stay in control of your money. Things like checking bank statements or investments, or paying bills may become challenging.
If you're starting to struggle, it's time to put some safeguards in place. A few simple steps will help you and your loved ones protect your money and prepare for the future.
Start planning
Appoint an enduring power of attorney
Update your will
Get your super in order
Sort out your important documents
Protect yourself from financial abuse
More details about the article here
Shopping the online sales? Protect yourself and know your rights
Online shopping can be a convenient way to buy the things you want. Know how to protect yourself online, and what to do if you don't get what you pay for.
Protect yourself from super scams — How to spot one and where to report it
If someone offers to withdraw your super or move it to a self-managed super fund (SMSF) so you can access the money, it's probably a scam.
Learn how to spot a superannuation scam, and where to report it.
Bills and loans getting on top of you? How to get support and help
If your bills or loan repayments are getting out of control, talk to someone who can help you understand your options. Taking action straight away can stop a small problem becoming a big one.
Click here to know some practical steps you can take to get your finances back on track.
Warning: Telstra bonds investment opportunities are fake
ASIC is alerting investors about fake Telstra Corporation Limited (Telstra) corporate bonds
Scammers are promoting Telstra bonds offered on the ASX to legitimise the existence of the fake bonds
Do not buy bonds from Telstra (or any other company) that are offered via email or as a recommendation from a comparison website – these are a scam.
Read here for more information
An introduction to Exchange Traded Funds (ETF)
Exchange traded funds (ETFs) are a low-cost way to earn a return similar to an index or a commodity. They can also help to diversify your investments. You can buy and sell units in ETFs through a stockbroker, the same way you buy an sell shares.
Click here to read on how ETFs work, types of ETFs, pros and cons of investing in ETFs and how to trade ETFs.
Top 5 tips to achieve your money goals in 2021
Work out your financial position
Start with a financial stocktake to work out what you own and what you owe.
Make a plan for your money
What are your money goals this year? Give yourself the best chance at achieving them.
Build a savings buffer
Having a financial safety net will give you peace of mind.
Tackle your debt
The good news is there are steps you can take to relieve the financial pressure.
Master the investing essentials
Planning is the key to successful investing. Creating a plan will help you find investments that fit your goals.
Hand-in-hand: financial wellbeing and mental health
As COVID-19 continues to damage Australia’s economy and impact the job market, it’s becoming increasingly clear that the pandemic is presenting many people with significant challenges.
Click here to read Beyond Blue’s chat with Laura Higgins, head of moneysmart.gov.au, about why getting on top of your finances is so important for mental wellbeing.
Diversification - Spread your investments and lower your risk
Diversification is an oft-heard term when reading about investing, but what does it actually mean, and how can it benefit you?
Essentially, it’s about not putting all of your eggs into one basket. Click here to read about this investment strategy that lowers your portfolio’s risk and helps you get more stable returns