THIS MONTH
NEWS
&
VIEWS
SNAPSHOT Movinghouse
Source:ING *SomefutureupgradersdidconsidercoastallocationsforinterstatemovesWhenyouupgraded/whenthinkingaboutupgrading,
whichofthefollowingwere/areyourbiggeststressorsWhatdoestheaverage
Aussieupgraderwant?
Organising finances/
getting a loan
Process of packing/
organising the move
The financial
strain/saving
Process of getting a
broker/financial help
Personally not liking
the new place
My partner not liking
the new place
My children not
liking the new place
I don’t have
any stressorsTheywanttolive
inmetroareas
Thosethatmoveforthe
areawantmoretodo
Melbourneisthemost
popularinterstatelocation*46%45%41%62%
18%17%14%11%7%Moved
for property
vs areaUpgraded
or will
upgrade
for the
property75%39%25%ICEBOX– GOOGLE
CHROME
COST:FREEI
mpulsebuying
canblowa
holein eventhe
best-planned
budget,andonlineshoppingis
makingit easierthaneverto
spendonthingswedon’treally
needorwant.
Butthereis a waytocombat
theurgetosplurge.
If youuseGoogleChromeas
yourwebbrowser,tryadding
theIceboxextension.It’sfree
fromtheChromewebstore.
Thisingeniousappworks
on 400 popularretailwebsites
includingASOSandeBay.Once
installed,it curbsimpulsebuys
byreplacingthe“buy”button
one-commercesiteswitha
promptto“putit onice”.
Evenif youclickonthe
button,you’llneedtositoutthe
coolingperiodyou’veselected
beforeyoucanaddtheitemto
yourshoppingcart.It’sa simple
waytosaveonimpulsebuys,
yetwiththefreedomtoselect
sitesthatyoudon’twanttobe
blocked.NICOLAFIELDTAX TIP
Amalgamate ‘lost’
super accountsT
he findings of the recent banking royal
commission have highlighted the
potential traps that you can fall into when
you have multiple superannuation accounts.
It’s all too common for people changing jobs
to automatically fall into the “default” super
account offered by their employer, meaning
that if you change jobs several times you
can end up with multiple accounts.
Fund underperformance and excessive
charges levied across multiple accounts can
rapidly eat into your retirement savings, leav-
ing you thousands of dollars worse off than
if you’d invested in one high-performing, low-
cost fund. The good news is that you can now
manage your super using the ATO’s online ser-
vices through myGov. You can see details of
all your accounts, including any you may have
forgotten about, and amalgamate them.
While it might seem difficult to “forget”
about super, in practice it’s very easy to
overlook a low-balance account related to a
job you did many years ago for a short time.
Indeed, the ATO reckons there is over $
billion in lost and unclaimed super just wait-
ing to be recovered. According to the ATO,
more than 66,000 people found and consol-
idated over 105,000 accounts worth more
than $860 million during the three months
from October to December 2018.
Before consolidating, check with your
fund to see if there are any exit fees or
whether you will lose any valuable insurance.
MARK CHAPMAN, DIRECTOR OF TAX COMMUNICATIONS AT^
H&R BLOCK. [email protected]C
o-host of the Seven Network’s Sunrise
program and a respected business and
finance commentator, David Koch shares his
11 steps on how to make money work for you.
Whether it is paying less on a mortgage,
putting $14,000 extra back into the family
budget or getting your finances sorted in
15 minutes a month, Koch is in tune with
how Australians think about money.
The book prompts readers to activate their
money plans through several information
points, fun facts and self-guided calculators.
It also draws on Koch’s personal experiences
as a father of four children.Ten readers can win a copy.
In 25 words or less, tell us how you will best
clean up your money mess. Enter online at
moneymag.com.au/win or send entries to
Money, Level 7, 55 Clarence Street, Sydney,
NSW, 2000. Entries open April 29, 2019
and close June 5, 2019.KOCHIE’S 11-STEP
MONEY PLAN
by David Koch
(Macmillan Australia, $29.99)BOOK OF THE
MONTHDOWNLOAD OF
THE MONTH