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How we encourage a grandson to save As a 90-year-old, I loved your Friends With Money podcast (Manage your money – 5 proven methods). Wonderful tips. A tip that is working with one of my grandsons, who is not a good saver, is that when paid his fortnightly salary, his parents and I match the amount that he puts in a bank account in the joint names of all three of us, so he cannot take money from this account unless his parents or I agree (which we don't and will not). He still lives at home, which is a great help to him. So far, the scheme is working and he is very pleased with himself and us. I also want to congratulate you on your magazine, which is…

NICOLA FIELD Contributor As a keen global traveller, I've saved a bundle, thanks to Google Maps. It let me navigate multiple train lines to reach my far-flung hotel in Tokyo (saving $350 on a taxi fare), it helped me find obscure attractions such as the Museum of Ice Cream in Singapore (yum!) and it allowed me to explore on foot. By popping in earbuds, I've walked the streets of London, Glasgow, Auckland and Dubai without the uncertain map reading and costly taxi rides that scream ‘tourist’. See Nicola's update on super changes on page 74. MATTHEW GIBBS Contributor As one who uses fountain pens, wears a watch with Roman numerals and has never read a book on a Kindle, I may seem like a digital dinosaur. But, in truth, I love…

Having studied the growth and development of the Australian exchange traded fund (ETF) industry for the past 10 years, I have come to the conclusion that there are very few events that are real game changers. What we have seen from ETF providers in the past is pretty much what we expect from them in the future. But there is one ETF provider that has broken with its past patterns and the result is, in my view, a game changer. Let me explain. On a recent weekend, I was driving around the streets of Melbourne delivering kids to parties and sports, and trying to get home before the summer heat peaked for the day. It was then I heard someone say something profound on Radio National. National security expert Professor…

Just days into 2025, we were confronted with photos and videos of out-of-control fires tearing through neighbourhoods and homes in Los Angeles. Fast-forward to early February and communities in North Queensland were left devastated by severe flooding – some areas received more than 1.5 metres of rain in just a few days. While the year has started on an ominous note as far as natural disasters are concerned, the reality is that events such as fires and floods are becoming more common and more extreme as a result of climate change. For those who haven't been directly impacted by flooding or fires in recent years, it can be easy to view these as distant events. But the fact is that they impact us all. For instance, research released by the…

Super is meant to be for everyone, but young workers face a delayed entry to our worldclass retirement system. Throughout the summer months, thousands of young Australians have stacked our shelves, cooked our fast food, waited on tables and worked in local shops. But an outdated law means that workers aged under 18 are legally denied compulsory super unless they work more than 30 hours per week for the same employer. A law that can cost them dearly at retirement. A Super Members Council report reveals that about nine in 10 under-18s don't meet the 30-hour-per-week work threshold, depriving around 505,000 young workers of about $368 million in super contributions each year. Imagine a typical teenager who works for at least two years; they could have almost $2200 in their…

Are you making money from your hobby? That could include anything from selling homemade cakes at a local market to charging people to see your social media content. Basically, everything you do for fun that you have potentially monetised! Did you know that you may be required to pay tax on the money you are making from these hobbies? There are a number of indicators that can be applied to help determine whether a business is being carried on, such as whether: • the activity has a significant commercial purpose or character • the taxpayer has more than just an intention to engage in business • the taxpayer has a purpose of profit as well as a prospect of profit from the activity • there is regularity and repetition of…

BOOK OF THE MONTH THE FOUNDER EFFECT: Three Pillars of Success in Founder-Led Companies by Lawrence Lam (Wiley, $34.95) The managing director and founder of a funds management firm, Lam sets out to help readers understand the magic formula that generates success. He outlines his strategy to create and recognise great management teams, using case studies from some of the world's leading companies, such as Boeing, Siemens and LEGO. He points out: “After all, a company is a mere collection of decisions made over time that, once accumulated over many years, steer the company in a certain direction. Once you understand how well a company thinks, you will be able to realistically judge its potential for success.” Ten readers can win a copy. In 25 words or less, tell us…

From Netflix and Spotify to HelloFresh and Tinder, subscriptions have become a staple of monthly expenses for many people. But new research from ING has revealed that 8.4 million Aussies are paying for subscriptions they no longer use – a costly oversight that could offer significant savings in 2025 if they are managed better. In 2024, discretionary spending on subscriptions hit an average of $874 per person, amounting to $11.4 billion nationwide. The report highlights a clear opportunity for better financial management through a subscription audit. So, why are so many Aussies still paying for services they don't use? The top reasons include forgetting to cancel a free trial (32%), letting family and friends use the accounts (31%) or thinking they might need the service in the future (30%). Nearly…

Gen Z are using social media as a key tool for managing money, earning them the title of the most financially confident generation. New NAB economics data reveals that nearly one in three people aged 18-29 feels confident discussing their finances, compared with just one in 10 aged over 50. Zoomers are leading the charge in budgeting confidence (38% versus 25% for over-50s) and savvy saving habits (31% versus 17%), depending on digital resources, with financial advice videos on TikTok amassing more than 21 million views last year. NAB executive Kylie Young says the surge in activity is largely good news, but it is important not to rely solely on social media for financial advice. “Most banks will have content on their websites that will help guide you and there…