Jessica Sepel's honey-soy salmon with veggies recipe
Jess Sepel shares her cleansing 1-pan salmon & veg recipe
You’re trying to stretch your money between paying off a huge uni debt, saving for your first home and still having some form of social life – all at the same time.
If you were born between 1980 and 2000, you probably know this struggle all too well.
We’ve all heard the advice to millennials telling us the secret to improving our finances is to avoid smashed avo on toast, but if that doesn’t quite resonate with you, here are some money mistakes that just might.
Millennials can sometimes fall into the trap of obtaining more and more. We’re treated to a lifestyle of fast fashion, speedy tech advancements, and more entertainment options than the generations before us. These luxuries can make it tempting to acquire more ‘stuff’ than we really need, particularly when it’s so easy to get a loan or a credit card from a lender. Keep debt in check by making repayments on time each month, with a goal to eventually get rid of your credit cards altogether. Is that new item worth getting yourself into the red for? Will you want it as much as you do right now, next week?
Sometimes, millennials can forget that we’re not invincible - a problem when it comes to dealing with an accident that might leave you off work for a period of time
Living pay check to pay check isn’t a smart plan if you have dreams and goals - after all, money will probably be a component in helping you to achieve them! Setting up an ongoing direct debit to a high-interest savings account will make future you pretty proud. Once you’re used to saving that amount each week, you likely won’t miss it. If you can just ‘save for a rainy day’ then great, but as an added incentive, set clear goals for the short, mid and long term, that will reinforce the mindset to save. MoneySmart has some great tools to help you reach that savings goal.
You know the ones that pop up on your bill each month that you swear you won’t let happen again? Paying your bills late is a sure-fire way to fork out more than you need to – and late fees are about the most boring way you can spend your hard earned dollars (closely followed by parking fines). Direct debits can take the manual process out of dealing with these, plus it gives you one less thing to think about.
Sometimes, millennials can forget that we’re not invincible. This can be a problem when it comes to dealing with unexpected events or accidents that might leave you off work for a period of time. That’s where a life insurance policy can help.
Now is a good time to check out nib’s Income Protection – future you will thank you.
Products promoted by nib health care services Pty Ltd ABN 91 003 037 625 AR Number 321683 of TAL Direct Pty Limited ABN 39 084 666 017 AFSL 243260 which also administers policies and claims. TAL Life Limited, ABN 70 050 109 450 AFSL 237848 is the issuer of the life insurance benefits and St Andrew’s Insurance (Australia) Pty Ltd, ABN 89 075 044 656 AFSL 239649 is the issuer of the Involuntary Unemployment Cover. The information given here is general advice only and does not take into account your personal financial situation, needs or objectives. You should consider the appropriateness of this advice, having regard to your financial situation, needs and objectives. Please consider the combined Product Disclosure Statement (PDS) and Financial Services Guide before deciding whether to buy or to continue to hold this product.