Budgeting

Why Doctors Struggle with Finances and How Wealthmed Can Help

by Wealthmed Australia
July 15, 2024August 21, 2024

We see a common story among medical professionals – brilliant minds dedicated to healing others but struggling with their own financial well-being because it’s hard to carve out time and maintain continuity to execute strategies and review finances regularly. On top of that, there’s so much confusion in the general finance world, and most of the information doesn’t apply to doctors. Along the way, we see many financial mistakes because,… Read More »Why Doctors Struggle with Finances and How Wealthmed Can Help

6 steps to a sustainable Christmas

by Wealthmed Australia
November 26, 2023November 27, 2023

Just as the Grinch stole Christmas, excess spending can rob us of all of the yuletide happiness. Seasonal credit card splurges can create ballooning long-term debt, while unnecessary consumption inevitably leads to a blow-out in rubbish bin waste. The Commonwealth Bank of Australia estimates $11 billion is spent on presents each year, including some 20 million unwanted gifts. At the same time, seasonal celebrations boost landfill rubbish by a massive… Read More »6 steps to a sustainable Christmas

New Year Financial Checklist

by Wealthmed Australia
January 28, 2021October 25, 2021

As we move towards the end of yet another year and ponder how fast the last 12 months have come and gone, many of us find ourselves thinking about the coming year and our aspirations for the future. Let’s face it, we’ve worked hard throughout the year, and now is the time to reflect on what we have achieved; where we want to go; and what we need to get… Read More »New Year Financial Checklist

The most common financial mistakes that prevent you from saving

by Wealthmed Australia
October 12, 2020October 12, 2020

Have a good money stream coming in, yet you still don’t have any savings? The world is constantly dangling temptations before our eyes, and it’s never been easier to buy stuff, even if we don’t have the money. The upshot is that we are all susceptible to making some basic financial errors. Individually, these mistakes can be small. Added together, they can really hold us back from financial success. Take… Read More »The most common financial mistakes that prevent you from saving

Wealth protection through the ages

by Wealthmed Australia
September 29, 2020October 15, 2020

Wealth protection through the ages Insurance plays an important role in any wealth creation and management strategy. There is little point in accumulating wealth if you don’t protect it, or yourself, from unforeseen risks that can undermine the best-made plans. Just as your wealth creation strategy needs to be reviewed on a regular basis, so too does your wealth protection plan. Every stage of life brings exciting challenges along with… Read More »Wealth protection through the ages

What to do when tenants request lower rent during COVID-19

by Wealthmed Australia
March 31, 2020May 3, 2020

We want the best for you and your tenants during these difficult times. Therefore, we suggest you follow the below checklist for Landlords with Tenants requesting lower rent: Has the tenant provided proof of termination, stand down or reduced work hours? Has the tenant applied and able to provide proof of either the Jobseeker payment or has their employer applied for the Jobkeeper payment. Has the property manager explained to… Read More »What to do when tenants request lower rent during COVID-19

The first stage of COVID-19 lockdown

by Wealthmed Australia
March 30, 2020May 4, 2020

Well, we are in the first stage of a lockdown. Hopefully, this will be enough to flatten the upward trajectory of infections, take the pressure off the health system and keep us all safe. If not, a second stage will likely see most people confined to their homes. This stage was effective in China in stopping the spread (assuming the accuracy of reports) in 2 months or so. As previously… Read More »The first stage of COVID-19 lockdown

Banks initial assistance response to COVID-19

by Wealthmed Australia
March 24, 2020May 4, 2020

In light of a crazy weekend, the majority of the banks have advised effectively immediately, assistance will be put in place to help both home loan and business customers manage their respective loans over the coming 6 month period. Wealthmed is still waiting a full response from a couple of the smaller lenders. Most lenders will offer ‘deferred’ payments of up to 6 months for those who are in financial… Read More »Banks initial assistance response to COVID-19

New Tax Incentives and Other Assistance

by Wealthmed Australia
March 24, 2020May 4, 2020

The government is temporarily expanding eligibly to income support payments and establishing a time-limited Corona-virus supplement to be paid at a rate of $550/fortnight. Paid to both existing and new recipients of the JobSeeker Payment, Youth Allowance jobseeker, Parenting Payment, Farm Household Allowance and Special Benefit. It will be paid for the next 6 months. The instant asset write off has increased from $30,000 to $150,000 for businesses with aggregated… Read More »New Tax Incentives and Other Assistance

Four financial resolutions to kick start the new year

by Wealthmed Australia
January 9, 2020

The dawn of a new year sees many people setting new year’s resolutions such as losing some weight or giving up smoking. Similarly, the beginning of a new year is the ideal time for setting financial goals, and here are four practical ways you can kick your year off to a great start. Decide what you want to achieve January is perfect for taking stock of where you’re at financially,… Read More »Four financial resolutions to kick start the new year

Making Christmas a time of joy, not a time of stress

by Wealthmed Australia
December 10, 2019

Christmas….. the time seems to fly from one year to the next! While it’s a joyful time for children and a wonderful time for family to be together, it can also be a difficult time. Organising and preparing meals, gift purchasing Christmas parties and functions can make it a busy time and sometimes it can also be stressful when credit card bills arrive in the new year. We have put… Read More »Making Christmas a time of joy, not a time of stress

Kids + Money – never too early to start.

by Wealthmed Australia
October 22, 2019

Teaching your child good money habits and the value of money should start early. Parents can influence how their children view money in different ways. Teaching your children to manage their money allows them to not only create good financial habits, but also helps them to grow into financially savvy adults. You might even learn something about your own money habits along the way. Money is exposed to children almost every day, as they grow older, they will start recognising the currency… Read More »Kids + Money – never too early to start.