As our last post for 2020, we simply want to say: well done on getting through 2020! We hope that, like the smiling boy in this picture, who has found a way to turn an upside-down world into a source of delight, you and your loved are able to find some fun and lightness this holiday season.
This year has been a year like no other. Now that summer is with us, can we encourage you to take a holiday if that is at all possible for you? This year, more than ever, a holiday may be the most important thing you do – and not just for yourself!
This week we bring you our analysis of the ways in which the recent Budget will impact on businesses. The main avenue for assisting business is an expansion of the instant asset write-off scheme that has been in operation for a few years now. Support for employment is also expanded – and there is even a little bit of support for businesses that try to help staff who they have had to make redundant.
This week we bring you our analysis of the ways in which the recent Budget will impact on households. The main impact will be for working people who will enjoy a series of tax cuts, but there is also some relief for people on income support due to age or disability and some incentives for employers to hire people on income support due to unemployment.
This week we finally received the 2020 Commonwealth Budget that was initially expected in May 2020. As expected, this is a whopper of a Budget and we will look at much of its content over coming weeks. This is our usual move, as it allows us time to fully digest what the Budget has to offer. For this week, we will focus on the part of the Budget that is generating the most headlines: the deficit. According to Treasurer Frydenberg, the Commonwealth expects a Budget deficit of $213 billion in the current financial year.
If you live with someone you love, then this week we want to offer you some light-hearted but useful advice to avoid arguments about money. After all, successfully managing money together calls for as much tolerance and good humour as all the other parts of life that couples need to negotiate. If you can keep smiling, everything becomes a lot easier.
Good financial management is all about good decision making. This week, we discuss a simple way to help yourself make better decisions. Given that most of the country will remain in some form of lockdown for the foreseeable future, it is a method that makes even more sense for those of whose lifestyles have been seriously disrupted.
Peter Drucker was a giant within the world of management consulting. In 2004, he wrote a seminal article targeted specifically towards executives. Given the nature of 2020 and its impact on the world of work, we re-read the article recently and realised that its contents remain very relevant. In fact, they remain vitally important for anyone who has to work somewhat autonomously
Our recent article on decision fatigue was very well-received. So, this week we thought we would return to the theme and shed some more light on this very important element of good financial decision making. (OK: we admit it. It also lets us run another photo of an extremely cute baby, which should get lots of positive comments as well!)