Direct your financial future with confidence

Wishing you all have a happy and safe Easter 🐇⁠ ⁠ - From the team at Diamond Partners ⁠ ⁠ Our office will close at 5pm on Thursday the 14th of April and re-open at 9am on the 19th of April

9 ways to save on a night out If a big weekend has ever left you penniless until payday, these pointers could be for you. 1. Preparations before you even leave the house Think haircuts, beauty appointments, things you buy for the host, not to mention new outfits. When you think about it - preparations could sometimes fund a whole night out by themselves! 2. Debit cards, credit cards, buy-now-pay-later services You tap it, don’t see it and lose track of it! It’s one of the most obvious ones, but taking only the cash you want to spend could be a game changer! 3. The always-broke mate that’s constantly relying on you There’s always one in the group - No doubt this mate has their redeeming qualities, but if you can’t or are struggling to cover your own bills, it might be time to say, no. 4. Group dinners with the fancy mob A group of you go for dinner and you’re thinking you might just get an entrée, but before you even look at the menu, your buddy orders the banquet for the entire table. In times like this, it may be worth saying upfront exactly what you can spend! 5. Drinks for everyone, just because If you’re that person who gets carried away and always buys the whole group a round of drinks, this is a sure way to lose track and spend money fast! 6. Pricey venues that charge before you walk through the door These venues can be fun if the bouncers approve of everyone’s hair, clothing, and associates, but if your main priority is just to catch up with mates, a laid-back venue without the entry fee and jacked-up bar prices may be the way to go. 7. The kebab, Maccas run or servo sausage roll on the way home Admittedly, this can be one of the hardest things to avoid on a night out, with this common ritual an easy way to drop another $10, $20, $30 or more before you head home. 8. That one last detour because the night’s still young This is often the time you’ll look back on in the morning and say – I should have left then! 9. Your umpteenth Uber and taxi fare for the month The later the night gets, the more likely you may be to schedule a driver, so while you’re still in alright form, consider catching a bus, train or ferry. Credit - AMP Journal

How stunning are these flowers we received from one of our lovely clients. Believe it or not these were from her very own garden, which makes it an extra thoughtful gift 🌸 We are amazed by these beautiful colours and variety!

Australian retirees generally need a certain budget each year to live a modest or comfortable lifestyle, and industry figures recently revealed the highest annual increase in those budgets since 20101.⁠ ⁠ The Association of Superannuation Funds of Australia (ASFA) put that increase, in part, down to a range of unavoidable price hikes on things such as petrol and council rates2.⁠ ⁠ If you're in or approaching retirement, that mightn’t be welcome news, particularly if you’re prioritising bills, trying to reduce debt, helping the kids out (if you have any) and enjoying an active social life.⁠ ⁠ On the flip side, knowing how much you might need and what you may like to do could go a long way. ⁠ ⁠ So, how much money do you need?⁠ According to September 2021 ASFA figures, individuals and couples, around age 65, who are looking to retire today, would need the below annual budgets to fund certain lifestyles.⁠ ⁠ Single (annual budget)⁠ Comfortable lifestyle $45,238⁠ Modest lifestyle $28,775 ⁠ Full Age Pension rate $25,155⁠ ⁠ Couple (annual budget) ⁠ Comfortable lifestyle $63,799⁠ Modest lifestyle $41,446 ⁠ Full Age Pension rate $37,923⁠ ⁠ Making your money go further for the fun stuff⁠ The good news is, not all things will come with a price tag, so it will be possible to do a variety of things that don’t necessarily cost money.⁠ ⁠ In the meantime, here are a few simple things that you might consider to keep costs down in retirement.⁠ ⁠ - Make use of your Senior's Card for transport concessions and discounts on other goods and services⁠ - If a restaurant isn’t in your budget one week, pack a rug, basket and esky, and head out for a picnic⁠ - If you enjoy dining out, research cheaper deals on sites like Groupon and Scoopon⁠ - Have your friends over for a card night or take turns hosting simple dinner parties where people BYO⁠ - If you want to get away, look out for cheap flights or consider a road trip. There are lots in Australia⁠ - Find cheap accommodation on Airbnb, HotelsCombined, lastminute.com or consider listing your own place to earn some money while you're away.⁠ ⁠ Credit - AMP Journal⁠

When you do things in the present that you can see, you are shaping the future that you are yet to see. ⁠ ⁠ #diamondpartners #wealthmanagement #financialplanning #wealthjourney #retirement #financialadvice #clarity #partnership #personalised #yourfuture #committment #holisticadvice #ontrack #reachgoals

If you haven’t had the money talk, here are the top 10 things to discuss with your partner early on.⁠ ⁠ 1. Your views on cash management⁠ Talk to your partner about your views around spending and saving. ⁠ ⁠ 2. Sneaky spending habits if you have any⁠ More than one in four Aussies has lied or been lied to about money by a partner, with hidden debt and secret spending two common contributing factors.⁠ ⁠ 3. Your income, expenses, assets and debts⁠ Your financial situation is an important one to talk about because even if you’re both earning a decent income (and potentially have some assets behind you), big expenses and potentially thousands of dollars of debt between you may impact any plans you have in the short and longer term.⁠ ⁠ 4. Whether you’ve been paying your bills on time⁠ A credit report will summarise how good you’ve been at paying your bills and making your repayments on time.⁠ ⁠ 5. What’s on your bucket list now and down the track⁠ If one of you has plans to travel, buy property, get married or have children and the other doesn’t, this could raise issues (or perhaps opportunities) for further discussion.⁠ ⁠ 6. What a joint budget and savings plan might look like⁠ Committing to something that you both think is fair could go a really long way here. ⁠ ⁠ 7. Your job security and whether you see a change on the cards⁠ If you’re on the verge of quitting your job or are aware of redundancies happening at work, this is probably worth flagging with your partner as well.⁠ ⁠ 8. Your contingency plan if one of you isn’t earning an income⁠ Its worth talking about whether either of you have an emergency plan that may help you get by through a tough period.⁠ ⁠ 9. How you’ll divide costs and or repayments⁠ You may decide to tackle this 50/50 or proportionate to each other’s income.⁠ ⁠ 10. Potential risks that may arise if you merge your money⁠ If your partner defaults on a repayment, you may be liable for the amount owing, even if your relationship ends.⁠ ⁠ With that in mind, it’s important both of you understand your responsibilities and consider whether you want to put anything you might agree to in writing.⁠ ⁠ Credit - AMP Journal

The man who never has enough money to pay his debts has too much of something else! ⁠ ⁠ #diamondpartners #wealthmanagement #financialplanning #wealthjourney #retirement #financialadvice #clarity #partnership #personalised #yourfuture #committment #holisticadvice #ontrack #reachgoals

Having a baby is a wonderful thing, but it can also mean big changes to your lifestyle and finances, particularly if you consider that parents with children under age 12 fork out around $18,200 a year on basic expenses. With that in mind, if you’re expecting a baby or planning on having one, here are some tips to help you budget and save. 1. Make sure you’re across medical expenses It’s worth jotting these down, so you’ve got an idea of everything that could be coming up. 2. Consider other upfront and ongoing costs There are things you may need to buy before the baby arrives, in addition to other things you might need on an ongoing basis. 3. Research your employer entitlements Many organisations have their own parental leave policies, which may include various paid and unpaid parental leave entitlements for new mothers and fathers. 4. Explore the government’s paid parental leave scheme With the paid parental leave scheme, primary carers of newborn or adopted children can apply for parental leave payments from the government. 5. Investigate other government assistance options Beyond the paid parental leave scheme, there’s a range of additional support options for families. You may be entitled to other assistance such as Dad and Partner Pay. 6. Create a family budget with the information you’ve collected After you’ve considered the expenses, it’s worth drawing up a budget and starting to put some money aside. 7. Prioritise your existing debts if you can If you have existing debts, you may want to consider how you can reduce these debts as much as possible before the baby arrives, particularly as you may encounter other unexpected expenses along the way. 8. Consider your will and broader estate plan If a little person is about to enter your life, thinking about your estate plan may make good sense, noting this involves more than just drawing up a will! 9. Remember that money isn’t everything If it’s your first baby, while it may be tempting to invest in the most expensive pram, baby clothes, or day care centre for your little one, it’s the love for your child, not the amount you spend on them, that matters. Credit - AMP Journal

A budget is telling your money where to go, instead of wondering where it went! ⁠ ⁠ #diamondpartners #wealthmanagement #financialplanning #wealthjourney #retirement #financialadvice #clarity #partnership #personalised #yourfuture #committment #holisticadvice #ontrack #reachgoals