Y.I.Finance » You're Important

Get ready to knuckle down! You have probably noticed in recent months that financial institutions have started to increase interest rates independently of the Reserve Bank’s decision to keep the cash rate on hold. Not only are interest rates increasing but financial institutions are now starting to significantly change the lending rules and criteria sometimes on a weekly – and even daily – basis. Interest only loan under scrutiny, for investors AND owner occupiers Preferred lending ratios are decreasing – Read More…

When we hear of properties selling at eye-watering profit margins it is tempting to think the vendors got ‘lucky’. Shows such as ‘The Block’ also create the impression that it is easy to jazz up a bargain buy (if you can find one!) and then ‘flip it’ for a quick profit. In reality, research from the March 2017 quarter reveals properties that resold at a profit have typically been owned for an average for 9.1 years (houses) and 7.6 years Read More…

The property market remains hot news in many parts of Australia but there is one less talked about sector of the market that is ALSO booming… Home renovations are back – in a big way! In fact, did you know that Australians are currently spending $165 million per month on renovations?* After a slump a few years ago home renovations accounted for almost 35% of total residential building in 2016* and activity has been increasing every month since August 2016. Read More…

A recent news article* placed identity theft as the fastest growing type of fraud in Australia with an 80% year on year increase. Worryingly, cases of identity theft have even been moved into the property market! It certainly begs the question.. Can you protect your property against identity fraud? Identity theft has the potential to be devastating and financially crippling, however it is not new to our shores. Below we share some alarming Australian examples: (Not) as safe houses Last Read More…

It is a fact of life, we are all going to age. Watching your parents age is never an easy situation, and finding an affordable care solution can be equally as challenging. It is important that they can maintain their independence in a warm and comfortable environment. An increasingly popular option for consumers is a granny flat. In adapting your home to provide care for parents or in-laws can be a cost-effective solution for them to retain their independence and Read More…

Important financial values for children One of the greatest gifts we can give our children is to teach them financial literacy. Don’t worry if you’re not a financial whizz yourself- teaching young ones the fundamentals isn’t hard. Parents are hands-down the greatest influence on their children’s behaviour – research shows this also extends to money management. Even the wisest financial lessons won’t shape your children’s habits if they don’t observe YOU making fiscally responsible decisions. If you don’t already have Read More…

Changes to property investment loans in Australia have dominated finance news over the past few months. Barely a week goes by without yet another financial institution announcing changes to their investment loan interest rates or lending criteria. So what does this mean for YOU, a current or potential consumer of finance products? Well if feedback across the industry is anything to go by it would seem it is mostly confusion! What has changed? In recent months APRA (the Australian Prudential Read More…

Negotiating with agents Real estate agents can be the gateway to snapping up a bargain. In most property transactions you are likely to have to deal with a real estate agent, so it’s worth taking time to understand what makes them tick. First up, it’s important to be clear on one important point – a real estate agent represents the seller, not the buyer. Agents are paid a commission on the sale of the property, so it’s just their responsibility Read More…

Summer school holidays can play serious havoc with household budgets. How do you keep the kids/grandkids entertained without breaking the bank? Try our cheap, fun activities: 1. Plant some veggies! Paint recycled pots, plants with seeds and let the kids watch them grow over the holidays. 2. Write a play with the kids.. then help them build a set and act it out. 3. Make fresh juices. Get out the juicer and let the kids create their own crazy concoctions. Read More…

Property investment has long been one of the more successful strategies to achieve financial independence, and yet statistics show only about 20% of us do it*. Why has property been a strong contributor to wealth creation? In general terms wealth is created through capital growth as your property value increases over time. Of course this is only true if the capital gain on the property is greater than the cost of holding it. Challenges in entering the market It appears Read More…