Author: Riches Editor

With the cost of living and interest rates still high, it’s critical to understand the fundamental truths of personal finance. While these principles may seem straightforward, putting them into practice can be a journey in itself. 1. Living Within Your Means is Essential: At the heart of personal finance lies a straightforward principle: spend less than you earn. This approach not only safeguards against accumulating unwanted debt but also creates room to save and invest for a more secure future. Regrettably, the allure of instant gratification, coupled with societal pressures, often makes this foundational truth a challenging feat. Yet, building your…

Financial discipline is more than a buzzword; it’s an essential skill set you need for long-term wellbeing. Yet, in a world filled with temptations to spend, keeping up this discipline is an everyday challenge. Impulsive buying decisions can derail even the most carefully constructed budget. To improve your outcomes, it’s helpful to have a process for managing your personal finances. This is the same idea we use to improve our physical fitness – when we have a plan and follow it, we’ll see the results. Understanding emotional spending Emotional spending is the habit of using purchases as a way to…

Imagine this: you’re walking through the shopping centre, and a new gadget, or outfit catches your eye. It’s not on your shopping list, but it’s on “Sale!”. Do you buy it? Marketing departments are very good at their jobs, and this is a common situation. Right here is where mindful spending can make a big difference. Mindful spending isn’t just about saving money; it’s about ensuring that your spending aligns with your most important financial goals. It’s spending on purpose in such a way that it will lead you to a more fulfilling and responsible financial life. Understanding mindful spending…

Have you ever opened the washing machine and instantly spotted the remnants of a tissue that has gone through the wash? It’s a big mess, and super annoying because you know it could have been avoided. But no amount of frustration will allow you to travel back in time and check those pockets again. All we can do is jump in and clean up the problem. To use another saying, there’s no sense crying over spilt milk. Money mishaps are something else that we’ll run into from time to time. They can range from minor oversights such as paying a…

Just as a river needs an unrestricted flow to remain healthy, so too must our financial energy flow freely for optimal financial wellbeing. The concept of financial energy flow is key to understanding and achieving financial wellness. This flow represents the movement of money through our life – from earning and spending to saving and investing. When this flow is clear, we experience financial stability and growth. But when a blockage occurs, our financial health suffers. The first step to unblocking your financial energy is to identify the issues. Two of the most common factors are high debt levels and…

Hi, everyone! Welcome to this session of the Tiger Academy  “First Impression of the US Stock Market.” After being introduced to the investment strategies in the previous session, I think you now have a good understanding of what stocks are and some strategies used to invest. In this lesson, I’ll take you through four steps to complete the second investment strategy: Establishing an Overview of the US Stock Markets. For traders in US stocks, it’s important to become familiar with the main trading markets, the three major indexes, market regulators, and famous companies before investing. This will help you understand…

Hi, everyone!Welcome to this session of the Tiger Academy, “Five Important Practical Points for US Stocks.” We’re moving on from “Investment Basics” to “US Stocks Investing” In this lesson, I’ll show you the five important things you need to know about trading stocks in the US. 1.Ticker Symbols for US stocks. Did you know that the code system for each of the stock markets in the US is different, and that company codes are generally formulated by the listed company itself? Using 2, 3, 4, or 5 letters, depending on the exchange, a company tries to create a stock code…

Improving your finances is a common New Year’s resolution, but many people struggle to achieve their goals. Research from October 2023 found that although 72% of 27 to 34-year-olds have financial goals, 33% are falling behind. The key to success is setting SMART goals: specific, measurable, achievable, relevant, and time-bound. Vague goals like “spend less” or “save more” won’t cut it. Here are five simple goals to help you shape up your finances this year: By setting clear goals and taking practical steps, you can take control of your finances and work towards a brighter financial future.

New research shows Gen Zs are feeling financially stressed, with high levels of debt including Buy Now Pay Later use. New nationwide research released by ASIC’s Moneysmart program today shows for seven in ten (68%) Gen Zs, finances are a major cause of concern, more than any other age group (57% of non-Gen Zs). Faced with rising cost of living, 82% of Aussie Gen Zs, representing Aussies aged 18 to 26 years old, feel financially stressed, but are twice as likely as other generations to want to better manage their finances as a response. Encouragingly, nine in ten Gen Zs have a…

ASIC recently looked into how superannuation funds and financial advisers handle investments in super and communicate with members and clients about their super performance. Their findings show that there’s room for improvement in both areas. According to ASIC’s research conducted in late 2023, nearly 3 in 10 Australians only check their super’s performance once a year or never at all. That’s why it’s important for people to start paying more attention to their super. If your employer pays your super into the fund they chose for you, you probably have a MySuper account. MySuper accounts generally have low fees and…