Money Smart

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

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. 

Use the net worth calculator

Make a plan for your money

What are your money goals this year?  Give yourself the best chance at achieving them. 

Plan and manage how you spend

Build a savings buffer

Having a financial safety net will give you peace of mind.

Save for an emergency fund

 Tackle your debt

The good news is there are steps you can take to relieve the financial pressure. 

Get debt under control

Master the investing essentials

Planning is the key to successful investing. Creating a plan will help you find investments that fit your goals.

Get ready to invest

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

Investment scams

Reduce the risk of investment scams.

Be suspicious of anyone that offers you easy money. Scammers are skilled at convincing you that the investment is real, the returns are high and the risks are low. But there’s always a catch.

Click here to read on how to spot an investment scam, common tactics, how to check if an investment is real, and how to reduce the risk of investment scams.