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Be careful in the real-life Monopoly game Born in the late 1950s, I am a Baby Boomer. My father's father never talked about any important life or emotional matters to his son, as that was the stiff-upper-lip era. As a result, my dad didn't know how to talk to us kids about business or finance, even though he was a successful businessman. Like many people, I burned a lot of money in my late teens and 20s. Everything I have learned has been hard-fought and won/lost/won. I read books on everything to help me on my quest – real estate, stockmarket and positive thinking. One of my favourite sayings is 'fortune favours the brave', but it doesn't say it favours a fool, so whatever I looked at buying I did…

MATT CAMPBELL Motoring expert Keyless entry for cars! Arms full? Just walk up and open the door without having to fumble for a key. Some new cars can even sense the key nearby and unlock the doors automatically. An electric boot with auto opening is another winner. I've been testing cars for 16 years (almost four of those as a dad) and I have plenty of thoughts on what makes some cars better than their rivals – that's why I called my YouTube channel The Right Car? Read Matt's Best of the Best cars on page 144. ANN LOVEDAY Art director It never crossed my mind that there were household tasks I could sub out to professionals rather than wrestle in my free time. Perhaps it's stealth luxury to pay…

Two separate but intertwined reports came out recently looking to provide consumers with an assessment of investment performance. The first was the annual superannuation performance test by the Australian Prudential Regulation Authority (APRA) and the second was the mid-year S&P Indices Versus Active Funds (SPIVA) scorecard. APRA's legislated performance test was first undertaken in 2021 for MySuper products. These are the default products most superannuation members end up in due to not making an investment choice. In 2023, APRA extended the test to trustee directed products (TDPs) where the trustee or a connected entity of the trustee has control over the management of investments and/or sets the strategic asset allocation of the product offering. The APRA performance test has two components: investment performance and fees. The first measures the performance…

Would you hand over $100 each month for access to unlimited haircuts? That was a question posed by a friend a few months ago after finding out that his barber was offering a subscription service for customers who were particularly keen on keeping their cuts fresh. For some, that might seem like an excessive amount of money to spend on haircuts, but given the popularity of subscriptions in other parts of life, perhaps not. Take streaming services, for one. There were 25 million subscriptions to video-on-demand in June 2024, according to the Telsyte Australian Subscription Entertainment Study. Away from the popular video and music services, it feels as though every business under the sun is moving towards a subscription model. In addition to haircuts, it's now possible to access everything…

Have you put legal protections in place to safeguard yourself and your loved ones should you be impacted by dementia? It is sobering to read that dementia, including Alzheimer's disease, is poised to overtake heart disease as Australia's leading cause of death. As these neurological conditions affect more people, it's time for Australians to rethink how they approach their wills and legal preparations. It's never too early to think about who you trust to make critical decisions for you if you're no longer able to do so yourself. Start talking to friends and family and, once you have made a decision, have a qualified legal professional prepare three crucial documents: • A power of attorney appoints someone who can manage your financial and legal affairs while you are still alive…

Do you run a business? Obviously you need to pay tax on your taxable income, which is calculated by deducting your expenses from your assessable income, but the question is: how do you arrive at your assessable income? It is necessary both to determine whether a particular receipt is assessable income and the relevant time period in which to include it – that is, the time at which income is derived. There are two recognised accounting methods for determining the year when income should be brought to account. The cash (sometimes called the receipts) method means that income is taxed when it is received, regardless of when the services from which it was derived were performed. The accruals or earnings method means that income is taxed when it is derived…

BOOK OF THE MONTH VIRGIN MILLIONAIRE by Ben Nash (Wiley, RRP $34.95) Do you want to be a millionaire? If you're like many cash-strapped Australians, the answer is likely to be 'yes'. This book guides you through author Ben Nash's unique yet surprisingly simple strategy to grow your money in small, manageable steps and set up your ideal lifestyle without making drastic sacrifices to the way you live today. Outlining the five smart money stages in your journey to financial independence, Virgin Millionaire provides actionable strategies for money and investing success, no matter what stage you're at right now. Ten readers can win a copy. In 25 words or less, tell us what your 'ideal lifestyle' would be. Enter online at moneymag.com.au/win or send entries to Money, Level 7, 55…

Five things to do 1. Athens This teeming metropolis gets varying reactions; some say it's dirty, dingy and over-trafficked while others love it. We fall into the latter camp. It is extraordinary being in a frenetic city that blends such important history – you can see the Parthenon from almost anywhere – with an edgy, modern vibe. Athens never sleeps, so there's always something to do in the many laneways that house bars, cafes and bookshops – this place is a bibliophile's dream. 2. Exarcheia Ten minutes' walk from Syntagma Square (in the centre of town and overlooked by the house of parliament) in one direction and the famous National Archaeological Museum in the other, Exarcheia is a hotbed of student activity, nightlife and activism. It's graffiti-heavy with a thriving…

SLEEP ON IT What is it? Withings Sleep Analyzer If you need to catch up on sleep over the summer break, the Withings Analyzer offers something different from apps and smartwatches: a hands-off approach. Plug the sensor into a power point and slip it beneath a mattress, where it will track everything from sleep cycles and heart rate to snoring. A sleep score can be viewed through the Withings app (Android and iOS). Cost: From $199 withings.com GIVEAWAY To celebrate Money's 25th birthday, we are giving readers the chance to win a Sleep Analyzer from Withings, valued at $199. To go into the draw, send your name, address and phone number to Money, Withings, Level 7, 55 Clarence Street, Sydney NSW 2000. Entries open December 4, 2024 and close January…