Money lessons learnt at different life stages [eBook]

Money certainly makes the world go around, and as we grow up, we learn plenty of financial lessons along the way. With Aussie households spending a whopping $666 billion on general living costs in 2016 alone, it’s important to learn about the common financial pitfalls and put smart budgeting strategies in place.

This free eBook from Choosi will explore all those money lessons we learn on life’s journey, and share tips to help you become a savvier money manager. From focusing on your future in your youth, to protecting those you love most as you get older, here are the biggest money lessons in life to take heed of.

Download your eBook

Please note: The information in this eBook is general only and isn’t intended as financial advice. It doesn’t take into account your personal objectives, financial situation or needs. Please consult with a professional financial advisor before you make any decisions concerning your finances and always do your own research.

Here’s a summary of what you’ll find inside.

Chapter 1: Money lessons for the young and single

You might think that because your rent, food, and fuel costs eat up 90% of your weekly earnings, there’s no point in saving money until you get a better-paying job. But stashing away just a few dollars every week can snowball into something much bigger down the track—especially thanks to the power of compound interest.

Chapter 2: The financially savvy young couples

Australia’s overall mortgage debt exceeds $1.8 trillion, with a household-debt-to-income ratio of just under 200%. So, if you don’t want to be working well into your golden years, it’s may be wise to buy within your financial comfort zone and spend as much time as you can beefing up that first home deposit.

Chapter 3: Young family future-proofers

The 2019 Choosi Dollar Report found that around 59% of the 5,000 people surveyed had no life insurance, and 67% had no income protection insurance. With such a low uptake of both insurance products, it could leave Aussies quite vulnerable if something unexpected happens, and they can no longer financially support their families.

Chapter 4: How a mature family should plan for their golden years

According to recent research, more than 1 in 3 (36%) Aussies find dealing with money both stressful and overwhelming. Perhaps more concerning is that the same study found less than half of Aussies have a ‘3–5 year’ financial plan.

Chapter 5: Retirees must protect themselves and their loved ones

With the rising cost of living, there’s a risk that only relying on what you’ve accumulated in your superannuation won’t adequately provide for you for the rest of your life.

Understand and control your exposure to financial risk

Hopefully the tips in the Money lessons learnt at different life stages eBook will help guide you through the exciting and sometimes confusing world of finances as you get older. By understanding the common mistakes and looking into protection measures like life insurance and income protection insurance, you can help  provide peace of mind at each stage of your life.

Download your free eBook now

Posted: 14 Sep 2020

This is general information only and does not take into account your personal objectives, financial situation or needs. You should consider the relevant PDS available on this website prior to purchasing any product. Choosi offers insurance products from a range of brands but does not compare all products available in the market.

Search blog

Topics

Signup to our newsletter

GET MORE ARTICLES

Receive articles, news & tips as soon as they are published. We'll send occasional updates on the latest product offers, competitions and more!
By subscribing you consent to us contacting you and agree to our Privacy Policy



Related articles

Income Protection Insurance 101
19 Aug 2016

Income Protection Insurance 101

Fast track your path to financial protection with our quick fact guide on income protection insurance. 

Read More
TOPICS:
Earning on the side - is it really worth it?
24 Jun 2014

Earning on the side - is it really worth it?

Here are some important considerations you need to think about before turning your hand at boosting the home coffers.

Read More
TOPICS:
Income protection insurance for contractors & full-time employees
01 May 2015

Income protection insurance for contractors & full-time employees

Do you have enough money saved up to tide you over for a few months or longer if something happened to prevent you from working?

Read More
TOPICS:

Ready to compare?