No matter where you are on your financial journey, you should know that it’s possible for anyone to take charge of their financial life . But, as with most things, sometimes that very first step is the hardest part.  #Saving #investments  #motivation  #Quickfix  #SaveMoney

1) Turn off the television:There are a lot of financial benefits to this: less exposure to ads, a lower electric and cable bill and more time to take up a side business or a part time job.

2) Clean out the Closet: Stop buying new clothes and shoes. Organise your closet. Mix and match existing stuff. Sell the rest on Ebay or have a Garage sale.

3) Making a List & Checking it twice: Write down a list before you go shopping and stick to it.

4) Invite friends home: Have a blast at home with themed parties or potlucks and save big money by staying out of restaurants.

5) Repair your clothes: How often do you toss out clothes because of a missing button or a wine stain? Learn easy and quick sewing tricks and save money. Paint over or iron on a patch over small holes or stains to make funky home clothes or gardening clothes.

Remember, a small first step takes you a long way. Talk to Madhu on 0425 341 086 to share your savings tips. Read more tips and ideas on Facebook.

How to invest when on extended leave or while working part-time?

I want to share my Super Strategy which has definitely worked better than investing in Super from an early age. Young women taking time off work to raise a family should be particularly cautious about over-investing in their superannuation.

"Since every superannuation dollar taxed at 15 percent, from a tax point of view you’re better off investing any spare money in your own name rather than in super. You can earn up to $20,000 in investment income and not pay any tax."

For most women taking extended leave from the workforce or working part-time, this approach can be particularly beneficial. 

That invested money is obviously then accessible if they need to dip into their own savings when they have reduced work income, and might be raising children.