5 ways to simplify your finances in 2022
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What are the benefits of simplifying your finances?
Property investors often talk about using debt to build wealth. In the share market, that's called gearing. With the BetaShares WealthBuilder range, investors can access moderate gearing into shares, and with the newly launched GG-BL, That means exposure to a diversified portfolio of around 1,300 global companies excluding Australia, all with no loan applications, credit checks, or margin calls. Gearing magnifies both gains and losses, so it's only suitable for investors with a very high tolerance for risk. You can learn more about the WealthBuilder range of ETFs at the BetaShares website. And don't forget to read the PDS and TMD to decide if it's right for you.
How can regular check-ins improve financial management?
BetaShares Capital Limited is the issuer. Here's something worth knowing if you've been meaning to make the switch to a better broker. To celebrate their fifth birthday, Perla are offering three free trades a month for five months if you transfer your portfolio across with a minimum of $1,000. For anyone investing regularly, that's meaningful savings on brokerage that can stay invested instead. Perla is chess-sponsored, built specifically for long-term investors, and now has over $3 billion invested on the platform. If you've been with a platform that doesn't quite fit your strategy anymore, it might be time to take a look. You'll find all of the details at perla.com slash LP slash RASC. That's perla.com slash LP slash RASC.
That means it's not specific to you, your needs, goals, or objectives, so don't act on the information until you've spoken with your financial advisor. You'll find our full disclosure, disclaimer, and link to our financial services guide in the show notes.
What strategies can help reduce the number of financial goals?
Kay Campbell, welcome to this episode of the Australian Finance Podcast. Oh, and it is good to be back. Oh, it is indeed. This episode is not sponsored by Vacation Coffee. Really good coffee here in Melbourne, just on the corner of Exhibition and Flinders Street. If you're in Melbourne, there's a tip for you. One of the top 10, I reckon. It's no Patricia's, but it's good. Yeah, there you go.
Why is it important to close unused financial accounts?
Okay, so today we're talking about simplifying your finances.
Yes. And making your life a little bit easier because there is so much going on already. So if you can take some of the hassle and admin out of your finances and just make it a bit more streamlined and easy to sort of keep on top of, it's a good thing to do.
Yep, so there are gonna be five action points in this, really simple stuff to simplify your finances. That's gonna be punchy. So if you get to the end of this episode, our hope would be that you at least think of one of these things that you can apply, maybe even within 10 minutes after getting off the podcast. If you're driving, do not put both hands on your phone to figure out, to delete your brokerage app or something like that. But there is something for everyone in here. So try to take one of these things away. One of them in particular, I am focusing on, and I'll explain that when we get to it,
Well, I was just going to say, I think the biggest thing that we've both realized over the past five to 10 years is that complicated does not equal better when it comes to your money.
How can you effectively reduce financial administration?
And the more complicated you make your finances, your taxes, your investment structures, you often end up making your life a lot harder in the long run. And a really simple strategy with low maintenance, you don't have to check in or do much on a regular basis can actually end up having the best returns over your long time. Yeah. Lifetime. Lifetime.
We'll go with that. But yeah, the thing is, right, I think the way we currently do finance in Australia, we have an app for this, a website for that, a login here, bank for this. I think that's all going to be done away with in the next 10 years. I think we're going to start to simplify even further. We're going to use automation as a Western world in particular.
What tools can automate your investments effectively?
We're going to use automation to just completely change a lot of the things that we do. And I think for the most part, this will be like the way we go and see the doctor.
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Chapters
8 chapters
1
What are the benefits of simplifying your finances?
0:00–0:42
2
How can regular check-ins improve financial management?
0:42–1:43
3
What strategies can help reduce the number of financial goals?
1:43–2:04
4
Why is it important to close unused financial accounts?
2:04–3:01
5
How can you effectively reduce financial administration?
3:01–3:41
6
What tools can automate your investments effectively?
3:41–4:11
7
How does automation impact long-term financial success?
4:11–4:44
8
What are the five key ways to simplify your finances?
4:44–29:37
Speakers
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