List expected expenses during the festive season and budget

Firstly make a list of who you are buying for, what you want to get them and how much you are willing to spend on each person. Create these lists early so you can add to it throughout the year when you think of gift ideas. For more on how to save money on Christmas gifts visit tips to save money on Christmas gifts.

List any food and drinks you will need for entertainment purposes then how much you will need to spend.

If you travel during this time of year list the travel that you would do and the estimated costs of your travel. This can range from flights, accommodation, insurance or even petrol if you drive a lot. Try to budget for travel costs as early as possible to allow time to save for expensive travel costs.

Pre-Christmas clean out

Take some time to clean anything out around the house that you may not want such as clothes, book, furniture or jewellery. These can then be sold for some extra cash to spend on Christmas presents, entertainment or travel.

Avoid using your credit card

After you have planned your gifts, stick to the amount you have budgeted and saved. Avoid using your credit card to purchase additional gifts. Another idea could be to take cash and stop spending when you run out. You’ll thank yourself for doing this in January.

Save on Christmas cards

Avoid spending money on Christmas cards, instead do a family video or voice message to send to friends and other family. You also send a text message or email to wish friends and loved ones a Merry Christmas.

You can also create your own personalised cards on paper, or if you have kids get them to draw and design them on a piece of paper.

Track your spending

No point in budgeting for this time of year if you aren’t going to track what you spend to ensure you stick to your budget. For more on tracking your spending view our article on ways to track and control spending.

Enjoy cheap traditions

If you and your family enjoy all of the Christmas traditions then choose the cheaper traditions. Enjoyable low cost traditions include:

• Seeing Santa at the shopping centre
• Baking together
• Watching Christmas movies at home while enjoying the food you baked together
• Reading your favourite Christmas stories
• Looking at the nearby Christmas lights

Share the workload on Christmas Day

If you are hosting the Christmas day lunch or dinner don’t feel the need to take on all the work involved, ask your guests to bring some meats, salads, drinks, nibbles or desserts. You deserve to enjoy the day as well.

Don’t go overboard on food, only buy what you need if you are the one responsible for food.

Make a list of what you need and take advantage of the competition between supermarkets. You don’t have to buy everything at the one supermarket, search around for the best deals.

Plan for next Christmas

Relax and enjoy a much deserved break. However it is never too early to start planning for next Christmas. You can start saving now by opening a high interest savings account and contributing a small amount of your choice every pay day.

Hopefully these help reduce the stress and financial burden of the festive season. To view our tips on saving money on Christmas gifts visit our article on tips to save money on Christmas gifts.

Article sources:
Jacqueline Curtis, Money Crashers
Olivia Maragna, The Sydney Morning Herald
ASIC’s Money Smart

Please contact Integrity One if we can assist you with any of your financial needs.

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This article is of a general nature and does not take into consideration anyone’s individual circumstances or objectives. Integrity One Planning Services Pty Ltd is a Corporate Authorised Representative No. 315000 of Integrity Financial Planners Pty Ltd ABN 71 069 537 855 (which is the holder of AFSL 225051). Integrity One Planning Services Pty Ltd and Integrity One Accounting and Business Advisory Services Pty Ltd are not liable for any financial loss resulting from decisions made based on this information. These articles are not owned by Integrity One Planning Services. We recommend that you seek personal advice from an advisor prior to implementing any of the information contained in this publication.

Not a morning person? Don’t worry you’re not the only one. The first few minutes from when your alarm goes in the morning can set the tone for the rest of your day. These tips on how to get your day off to a great start are easy to follow and can help you make the most of your mornings or even sleep in longer for those who aren’t early risers.

Have a bed time schedule

What you do the night before can have a big impact on your morning. Knocking over quick tasks the night before can help you save time in the morning. These include tasks that you might leave until the morning such as laying out your clothes for tomorrow, preparing and packing meals for the next day and anything other task that doesn’t have to wait till the morning. This will save you extra time in the morning that you can use to exercise, sleep in or however you choose to spend it.

Make yourself get out of bed

This sounds simple enough but we all know how tempting it is to hit the snooze button and stay in bed just a little longer. We also may like to check our Facebook and reply to messages whilst we are still in bed, especially for those who use their phone as an alarm.

Put your alarm or phone alarm close enough so that it wakes you up, but far enough away so that you can’t reach it from bed, therefore forcing you to get up to turn it off and reducing the temptation to hit the snooze button and sleep for a little longer. It will also force you to get out of bed if you want to check your phone.

Sleep in your exercise gear

A lot of people recommend exercising in the morning because of the increased energy levels throughout the day. It is also recommended because you may choose to skip your exercise session later if you’ve had a big day and can’t be bothered.

If you want to work out in the morning then make the decision the night before or well in advance, you should also lay out your exercise clothes for when you get up or even sleep in them.

To improve motivation you can commit to a class that you’ve paid for in advance forcing you to go. Another idea would be to exercise with a friend and that way you can hold each other accountable.

Saving time on getting ready for work

Find a podcast or news app that you can listen to or read while you are getting ready and on your way to work, that way you are on time and already briefed when you get to work.

You should also invest in a couple of fail-safe pieces of apparel such as a large bold necklace, great pair of boots or perfect blazer for days when you just have to throw clothes in quickly.

Another idea would be to set an alarm for the time you want to leave the house to keep you on track when you are getting ready.

Portable breakfast

Don’t skip breakfast, however to save time you can make a breakfast that you can eat on your way to work, while you are getting ready or when you are at work such as a smoothie.

For those working from home

Get up and follow the same routine you would if you were traveling to work. You may have the option to email and do some work in bed but it will still feel like relax time. As a result you won’t be as productive.

There is no correct way to start the day right , but combining these tips will help to start the day on a good note and maximise your time in the morning from when you wake up to when you get to work.

Article Source: Kathryn Dill, Forbes

Please contact Integrity One if we can assist you with any of your financial needs.

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This article is of a general nature and does not take into consideration anyone’s individual circumstances or objectives. Integrity One Planning Services Pty Ltd is a Corporate Authorised Representative No. 315000 of Integrity Financial Planners Pty Ltd ABN 71 069 537 855 (which is the holder of AFSL 225051). Integrity One Planning Services Pty Ltd and Integrity One Accounting and Business Advisory Services Pty Ltd are not liable for any financial loss resulting from decisions made based on this information. These articles are not owned by Integrity One Planning Services. We recommend that you seek personal advice from an advisor prior to implementing any of the information contained in this publication.

Investing in property can be complex especially for first time investors. However by understanding these potentials problems to watch out for, you can save thousands.

High-pressure deals

Binnari Property managing director David Hancock said wealth seminars that used high-pressure tactics were catching out plenty of new investors.

“A lot of people have realised later in life that they won’t be able to live off their super, a degree of panic sets in and they get sucked into these seminar based environments,” he said.

“Beware of sales agents that require you to sign a contract immediately, and do your research before making any decisions.”

Property investor, author and university lecturer Peter Koulizos said buying off the plan from developers was a potential trap. “Generally in a development, it’s the developer that makes the money — not the investor,” he said.

Finance failures

Understanding the financial side of a property purchase is crucial. Problems can arise from something as simple as choosing a fixed interest loan instead of a variable rate loan. “If you decide to sell out before the end of the term, you have penalties,” Mr Koulizos said.

Mr Hancock said many people signed contracts without understanding the mortgage process or even if their loan would be approved. “Prior to making any decisions or signing contracts, see a mortgage broker or bank for a finance assessment,” he said.

Too much emotion

“Keep in mind that you’re buying an investment, not a place to live,” Mr Hancock said.

Investors should ignore their own tastes and instead focus on things such as natural colour patterns, functional layouts and things that appealed to a wider audience, he said.

“An investor may discover a hidden gem while on holiday and be convinced that others will fall as madly in love with it as they have. But buying blindly without understanding the seasonal nature of the area may negatively impact their rental income.”

Banking on a quick win

Property investment is not a get-rich-quick scheme. Mr Hancock said fees, stamp duty and other taxes could easily erode a 10 per cent annual gain in a property’s value.

“Anyone who can hold a property for more than 10 years gives themselves an opportunity for significant capital growth and income growth,” he said.

Oversupply

If an area has an excess supply of investment properties, rental incomes get driven down, Mr Hancock said.

He said local property agents should have a good understanding of planning and supply issues. “Pick up the phone and speak to local professionals.”

Mr Koulizos said property investments often struggled if they were too far from the city or too far from the sea, or were based on short-term trend such as a mining boom.

Article written by Anthony Keane (news.com.au)
http://www.news.com.au/finance/money/investing/five-traps-to-watch-out-for-when-buying-an-investment-property/news-story/3a3e348678533809aa6b41fa8f39fa36

Please contact Integrity One if we can assist you with any of your financial needs.

Phone: (03) 9723 0522

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This article is of a general nature and does not take into consideration anyone’s individual circumstances or objectives. Integrity One Planning Services Pty Ltd is a Corporate Authorised Representative No. 315000 of Integrity Financial Planners Pty Ltd ABN 71 069 537 855 (which is the holder of AFSL 225051). Integrity One Planning Services Pty Ltd and Integrity One Accounting and Business Advisory Services Pty Ltd are not liable for any financial loss resulting from decisions made based on this information. These articles are not owned by Integrity One Planning Services. We recommend that you seek personal advice from an advisor prior to implementing any of the information contained in this publication.

The ATO has released six of the boldest excuses that have been used for failing to lodge a tax return on time.

Sometimes there are various reasons that Australians are unable to lodge their tax return by the deadline, however some can be very questionable. ATO assistant commissioner said some Australians put off lodging because they believe they will owe money, but that will only make matters worse. Payment will be due by November 21, regardless of when you lodge.

Some of the boldest excuses for failing to lodge on time include:

• “My paperwork flew out the car window when I was on my way to see the accountant.”
• “I have a condition that only allows me to work 30 minutes each week, so I couldn’t lodge.”
• “My ex-wife burnt everything belonging to me, including all of my tax records.”
• “My accountant has gone to prison,” he said that “he is working on it, but it’s taking longer than normal because he can’t access a computer.”
• Another Aussie said that he failed to lodge his tax returns between 2008 and 2015 because of a back injury he sustained in 2016.

The boldest excuse of them all would have to go to the tax payer who blamed the recent death of his father for failing to lodge his return. This would be a fair reason, however he used the same excuse in a previous year.

Lodging is now easier than ever because of the new technology and apps. There are ways to get help paying your tax debt if you have difficulties, but you still need to lodge before the October 31 deadline.

Article source: Tim McIntyre, news.com.au

Please contact Integrity One if we can assist you with any of your financial needs.

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This article is of a general nature and does not take into consideration anyone’s individual circumstances or objectives. Integrity One Planning Services Pty Ltd is a Corporate Authorised Representative No. 315000 of Integrity Financial Planners Pty Ltd ABN 71 069 537 855 (which is the holder of AFSL 225051). Integrity One Planning Services Pty Ltd and Integrity One Accounting and Business Advisory Services Pty Ltd are not liable for any financial loss resulting from decisions made based on this information. These articles are not owned by Integrity One Planning Services. We recommend that you seek personal advice from an advisor prior to implementing any of the information contained in this publication.

Don’t miss out on deductions because you didn’t know you could claim it. Here are some last minute items that workers may not realise they can claim.

Sunscreen

If you work outdoors, you can claim sunscreen that you purchase to protect you from the sun at work. Also other outdoor attire that is required for work such as hats, gloves and waterproof clothing if you need it to work in the wet can all be claimed.

Make-up

Other specific types of make-up such as rehydrating moisturisers can be claimed by flight attendants. However general make-up cannot be claimed.

Handbags

If the hand bag is used to carry items that you need for work such as iPads, phones, calculators or other stationary it can be claimed. It must be used for work purposes, it cannot be claimed if it is for personal use.

For men, a work brief case, satchel or back pack can be claimed if they are used to carry items required for work.

Art

If you need art to decorate a workplace or business it is possible that you can claim it. You also may even be able to claim an instant deduction if you’re business’s turnover is less than $10 million and the artwork costs less than $20,000.

Recreational office items

These items can include TV’s, gaming consoles, pool tables and ping pong tables. They can be claimed if they are for staff to use during breaks and lunch hours.

TV’s can also be claimed if they are in reception areas. They can also be claimed if they are in meeting rooms where they might be combined with video conferencing systems.

Dogs

If you need a dog to patrol your premises or if you use a dog in farming you may be able to claim a deduction for depreciation on the animal as well as an immediate deduction for maintenance costs such as food and vet bills.

Laundry

If you can claim your work uniform, then normally you can claim the cost of cleaning by laundry or dry cleaner.

Mobile phones

If you use your personal phone to make and receive work related calls, send and receive work related texts and emails or even surf the internet for work related purposes you may be able to claim the work related proportion of your mobile phone bill.

You should be careful about what you try and claim, but if you do the right thing you have nothing to worry about.

Article source: Ben Graham, news.com.au

For more tax tips please visit:

Home office expenses you can claim
https://www.integrityclients.com.au/blogs/home-office-expenses-can-claim/

$20,000 small business tax break explained
https://www.integrityclients.com.au/blogs/20000-small-business-tax-break-explained/

Tips to verify claims for online purchases
https://www.integrityclients.com.au/blogs/tips-to-verify-claims-for-online-purchases/

Please contact Integrity One if we can assist you with any of your financial needs.

Phone: (03) 9723 0522

Suite 2, 1 Railway Crescent

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Email: integrityone@iplan.com.au

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This article is of a general nature and does not take into consideration anyone’s individual circumstances or objectives. Integrity One Planning Services Pty Ltd is a Corporate Authorised Representative No. 315000 of Integrity Financial Planners Pty Ltd ABN 71 069 537 855 (which is the holder of AFSL 225051). Integrity One Planning Services Pty Ltd and Integrity One Accounting and Business Advisory Services Pty Ltd are not liable for any financial loss resulting from decisions made based on this information. These articles are not owned by Integrity One Planning Services. We recommend that you seek personal advice from an advisor prior to implementing any of the information contained in this publication.

Too much stress at work can not only impact on your performance at work, but on your physical and mental health and your life outside of work. It is quite normal for you to be overwhelmed by demands at work, however there are ways to cope with the stress that this causes.

Music

When you feel like your work load is starting to pile up and you’re not sure where to start first, have a break, put in your earphones and listen to a couple of songs with your tea or coffee. Avoid your computer screen whilst doing this to help clear your mind before you get going again.

Set boundaries and stick to them

Don’t let your work interfere with your personal life. Make a rule that you won’t check your work email and that you won’t answer your work phone after dinner time. This time should be for you, your family and your friends only. This can also be a reward for a hard day of work.

Take lunch

Have a break and eat lunch away from your desk, if it’s a nice day then go and enjoy the sun. Giving yourself a nice break will help freshen you up for the afternoon’s work.

Find a hobby

Finding a hobby outside of work that engages your mind such playing a musical instrument is a great way to reduce stress. It allows you to focus on something other than work and the stress involved.

Exercise

The physical benefits of exercise are well known. Exercise also helps improve alertness and concentration as well as reducing fatigue which can be all caused by stress. Exercise also improves your ability to sleep which also reduces stress and increases productivity.

Look at the positives

Sounds simple, but you should write down or make a mental note of the things in your life that you are grateful for. This can include, family, friends, your health and even having a job where you can support yourself and your family. Put things in perspective and remember, your situation could be a lot worse.

Also understand that a high work load could be a result of the trust and belief that your boss has that you can handle it and do a great job.

Take a holiday

Ensure that you make the most of the annual leave that you are entitled to. If you worked hard to accumulate annual leave then you deserve to be able to take it and have a break. Get away from work, relax and focus on you. This can help reduce stress and allow you to go back to work with a clear mind.

Talk to someone

Firstly you can talk to your manager or human resources about what is causing you this stress. They may be able to help manage your work load or reassure you that everything will be alright depending on what is causing your stress.
If you don’t feel comfortable talking to someone at work, you can talk to a close friend or family. They may be able to help you deal with it and even if they can’t fix it, they can still be simply there to listen while you blow off steam.

There is no perfect way to deal with stress, everyone is different and these are simply ideas that you can use if you are feeling stressed.

Article sources: Kate Ashford, Forbes
ADAA (Anxiety and Depression Association of America)
Helpguide.org

Please contact Integrity One if we can assist you with any of your financial needs.

Phone: (03) 9723 0522

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This article is of a general nature and does not take into consideration anyone’s individual circumstances or objectives. Integrity One Planning Services Pty Ltd is a Corporate Authorised Representative No. 315000 of Integrity Financial Planners Pty Ltd ABN 71 069 537 855 (which is the holder of AFSL 225051). Integrity One Planning Services Pty Ltd and Integrity One Accounting and Business Advisory Services Pty Ltd are not liable for any financial loss resulting from decisions made based on this information. These articles are not owned by Integrity One Planning Services. We recommend that you seek personal advice from an advisor prior to implementing any of the information contained in this publication.