Here are some great finance & money websites.
When sitting with clients, time and time again I refer back to these websites; so, I thought I’d share them!
Hmm where to start….
Need an investing Dictionary? – Investopedia
When it comes to investing there are a lot of different terms that we use, and it can make the process more confusing and anxious filled.
We can all do a quick google – but sometimes a straight definition doesn’t help.
I’ve found Investopedia gives good explanations.
What’s the difference between a Share, an ETF, and a managed fund?
Find Lost Super! – MyGov
I’m sure a lot of people have heard of the MyGov website – but didn’t know this little trick.
Link MyGov to the ATO, and it will display all of your Superannuation connected to your tax file number.
Definitely the easiest way!
ATO Website, surprisingly helpful! (Australian Tax Office)
While on the topic, the ATO’s website is actually quite good.
Its rare to find a ‘problem solving’ accountant anymore, while 75% of Australian’s use an accountant – most end up using a human robot, that asks you for your deductions. (If you’re coming up with your own deductions, you might as well do your own tax return!).
Unsure if you can/can’t claim your work travel expenses and other deductions, check out:
Tax can be complicated, and accountants are great – we just think you should be informed!
Self-Managed Super Funds
One last thing with the ATO website – they have a great series of videos for Self-Managed Super Funds:
Getting paid correctly? – Paycalulator.com.au
I love this site, I’m not sure why, but it always comes up.
Are you being paid correctly? Are you getting paid enough super? If you have $x deductions what will your tax return be?
Want to convert your weekly pay into monthly?
Want to see what your pay looks like with/without a HECS/HELP/University debt?
What’s your property worth? – Onthehouse.com.au
I’ve tried a bunch of different free sites for working out the value of a property, and I just keep coming back to this one.
Quick, easy, and best of all, seems to be fairly accurate.
What’s your suburb worth? And other investments? – InvestSmart.com.au
Looking for reliable information about your suburbs, your shares, managed funds, hybrid securities etc InvestSmart has a great “Research & Advice” section.
Practice before you play – ASX Share Market Game
I often talk to people who want to try their hand at share trading, a great place to start is will monopoly money!
Before Investing, understand volatility – Vanguard Index Charts
People love to say their asset of choice is the best, maybe its property, maybe its shares, or just cash under the bed.
Truth is, its more about choosing the right asset for the right timeframe.
Have a play with these interactive charts and see what you would have made, depending on what you chose, and when you bought and sold!
Loans and their underlying schedules – Amortization-calc.com
When we go for a loan, there are two big questions we ask, interest rate, and repayments.
Use this simple amortization schedule to answer some of your questions around loans.
How much will it cost? With a higher interest rate what will my repayments be? What will I owe at a certain time period? Total interest paid etc..
Other Finance Calculators – MoneySmart.gov.au
When you have other questions, maybe you’re concerned about the future, or have some maths you can’t work out, have a look at the MoneySmart website.
Some of the ones that are great include, Compound Interest, Pension Calculator, Retirement Planner – however there are heaps more.
These are fairly basic though, so to get comprehensive data, you will need to speak to a financial adviser.