Many Australian parents want to give their children a hand into the property market. This article will explain five options for supporting your kids’ homeownership goals without risking your own financial security.

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It’s understandable, in today’s tough housing market, that you want to give your children a leg up onto the first rung of the homeowning ladder. But before you do, stop to consider how it’s going to affect your own financial situation in your later years. That doesn’t make you selfish, just prudent. And there are ways to give your children the boost they need and still enjoy a comfortable retirement with financial security.

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This article uses a case study to highlight the risks of lending money to family without proper financial planning. It explores how a lack of formal agreements and professional advice led to significant financial loss and family conflict, and outlines steps that could have prevented these issues.

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Pete and I were thrilled when our son Josh announced that he and Robin had found their dream home.

We were all so caught up in the excitement that when they asked if we could help them with a deposit we readily agreed.

They needed $98,000, and having recently retired, we withdrew the lump sum from our pension fund. It was a large amount, and of course we were a bit anxious, but Josh was so happy that we pushed our doubts aside.

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In this article, we provide a roadmap for preparing for parental leave so that your transition into parenthood is a smooth one… Are you ready, get set, PARENT!

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Parenthood marks a significant milestone in life, and like every crucial life event, it requires careful planning and preparation, especially when considering parental leave.

You wouldn't venture into a dense forest without a map, so why embark on the journey to parenthood without a plan?

Follow our roadmap for preparing for parental leave to make your transition as easy as possible… Are you ready, get set, PARENT!

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Becoming a parent is an exciting time of adjustment and upheaval; how could such a little person create so many changes – and sleepless nights?

But lack of sleep shouldn’t be caused by financial worries and reduced household income.

When Judy a florist, and Gary an IT manager, decided to start a family, like everyone, they worried about the impact on their finances.

They tried to save as much money as they could while they still had Judy’s income, but there was so much to buy and prepare.

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When cash rates are low, what is your best option to save for your child? Utilising a case study, we compare a traditional savings account with a share portfolio, including the tax and tax reporting implications. Trusts are also discussed as an additional option, and we close with a reminder to seek professional advice before making any decisions.

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Did you have a savings account when you were young? It wasn’t uncommon and those old Passbook accounts funded many a first car.

Now you’re a parent, are you thinking of opening an account for your kids? Record low interest rates have taken some of the fun out of watching bank accounts grow, but there are alternatives.

For example, have you considered a share portfolio?

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We all want to give our children a head start in life. This three-step article will help you to instil sound financial habits in your children by setting the foundations of good money management and savings now.

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For many of us, our first experience of banking and savings was the school Savings Account Program.

But in 2019 the Australian Securities and Investments Commission (ASIC) raised concerns that these accounts had little lasting impact on children’s savings behaviour.

All parents want their children to be better-off than they were – more secure and financially independent, but the big question remains: where do you start?

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This article highlights the staggering costs associated with raising children, in particular, their education costs. To demonstrate the benefits of planning early, the article uses an example of two couples who planned for this expense differently and discusses different options for building a Family Future Fund.

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How much does it cost to raise a child? Obviously the answer is highly dependent on individual circumstances. However, as a guide, a 2013 national study  found that a typical middle income family would spend about $.....,000 on raising two children from birth to age 24. At that time child-raising costs were increasing at around 9% per annum, so it’s a reasonable estimate that these days the cost of getting two kids to the point where they’re ready to leave home (that’s not to say that they will) is closer to $..........! And that’s a middle of the road figure.

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