Not planning out your cashflow All professional services firms have an issue with work in progress, billing and accounts receivable. At the best of times it can take 3 months from commencing work to getting paid. Some plaintiffs (e.g. personal injury) cannot pay their fees until after their case has settled. If it takes a …
Continue reading “5 Bad Financial Decisions Barristers make”
I received a call the other day from my friendly BMW Sydney salesperson offering me 20% off a new BMW if I buy it before 30 June. I wasn’t sure if it is the best time to buy a new car but it did make me think about it. There are some steps you need …
Many people have described the economic and medical problems caused by COVID-19 as unprecedented. The phrase “This time it’s different” is used every time we have any kind of crisis. The reality is that it’s not different or unprecedented. There have been pandemics and economic crises throughout history. It’s just that bad events always feel …
Continue reading “How to invest in the time of Corona viruses?”
Jobkeeper wage subsidy The federal government will subsidise employee salaries of $750 per week for a 6 month period commencing on 30 March 2020. This is a total of $19,500 per resident employee. It wont help a business that has no revenue, no cash reserves and no work for employees but will be a big …
The Australian sharemarket has fallen by 25% since the start of the year as a result of the COVID-19 pandemic. Commercial property has crashed by 50%. The residential property market has also crashed by an unknown amount, maybe 20-30% for inner city apartments. This is not going to be a short-lived crisis with life going …
Access to cash Depending on your sources of income you may have minimal to extreme disruption in your cashflow. Fixed interest securities, government pensions and annuities will continue as before but sharemarket and property investments have been hit hard. You should ensure that you have enough cash to cover 3-6 months of living expenses. If …
Continue reading “7 Tips for Retirees to manage their money during the COVID-19 crisis”
Access to cash Depending on your area of specialisation you might be working like a slave and being thankful for your job security or you could be at home on shutdown wondering where the next dollar will come from. Either way you should ensure that you have enough cash to cover 3-6 months of living …
Continue reading “7 Tips for Professionals to manage their money during the COVID-19 crisis”
Access to cash Depending on your job you might be working like a slave and being thankful for your job security or you could be at home on shutdown wondering where the next dollar will come from. Either way you should ensure that you have enough cash to cover 3-6 months of living expenses. If …
Continue reading “7 Tips for People in their 40’s to manage their money during the COVID-19 crisis”
Covid-19 coronavirus Financial Impact Qantas announced this morning that they were ceasing the majority of their flights. As a result, they have decided to lay off 20,000 employees and cease paying salaries to senior executives. Many other businesses in Entertainment, Travel & Hospitability will close. Many people are suffering an unexpected loss of income. This …
Covid-19 coronavirus impact The first known case of a new SARS like coronavirus occurred on 1 December 2019 and a public notice on 31 December. On 23 January, significant numbers of cases had been found in China and the quarantine of Wuhan province commenced. Travel bans and other precautions began to be instituted from that …
