Take an hour to plan your week

This can be done whilst watching the footy or your favourite TV show. This doesn’t sound exciting but it will reduce stress about the upcoming week. Check your calendar, email a note to a co-worker or yourself and make a to-do list with the most important tasks to be done first. You should also do the annoying chores that you would often leave to the last minute such as the laundry, laying out your work clothes and preparing your meals for the week. These tasks are easier if they are done earlier and will give you more time to relax during the week.

Eat healthy food and drink plenty of water

Yes after a big Saturday it may be tempting to eat a big fatty meal, however these heavy meals and alcohol can cause you to be lethargic on Monday morning. Aim to have 4 balanced meals on Sunday with high fibre fruits and vegetables to aid digestion and leaving you feeling full. Also have meals containing lean protein and complex carbs to give you steady energy.

Drink plenty of water and try to avoid alcohol on Sundays. Alcohol is dehydrating, which causes sluggishness and increases stress.

Give Sundays a meaning

Do something that’s personally fulfilling. This can be a wide variety of things such as exercise, seeing friends and family, volunteering in the community or participating in a charity event. You can even combine these different things through events such as a run or walk for charity.

By doing this you’ll enter the week feeling accomplished and better about yourself. Sometimes we all enjoy spending the day binge watching our TV show, but this doesn’t have to take up the entire day.

Do something to clear your mind

Similar to the activities discussed above, it is important to do a Sunday activity that is engaging to help clear your mind. This can include playing a sport, a computer game, or an old school board games such as Monopoly.

Using Sunday to engage different parts of your mind will help you reset and freshen up for the week ahead.

Look at the positives about the week ahead

It is popular to dread Mondays, but you can’t avoid them. Instead you should focus on the positives and the opportunities that this week will present. It can be as simple as catching up on the weekend’s gossip or completing an exciting project. Having a negative outlook on the week can reduce productivity. Think about how you could enjoy your job more and if you did look forward to going to work in the past, think about why you looked forward to it and how you can apply that now.

Get a good night sleep

A good night’s sleep will help you feel a lot more optimistic about the week and reduce stress. You are also a more alert and energized after a good night of rest.

It is critical to prepare for a good night’s sleep. As stated above you should avoid heavy meals and finish your last meal for the day two and a half hours before you plan on going to sleep. You should also aim to do a decent amount of physical activity on Sunday. Daily exercise helps to improve sleep quality. Also as stated above, alcohol should be avoided before you go to bed.

Source: Stephanie Booth, LearnVest

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.

Regardless of your financial situation, you’ve probably made one of these mistakes at some stage in your life. This article discusses the common financial mistakes made by students, new workers, singles, couples, DINK’s (Dual Income No Kids), families and divorcees and also how to avoid making these mistakes. These are the major risk points in our lives so it is very important to avoid these mistakes because of the setbacks they can cause.

Students

The biggest mistake students can make is deferring a large portion of their debt. This is tempting to do because of how difficult it is to study full time and work. However students should avoid as much debt as they can.

If students find it tough to save and feel like they have to defer their debt, they should work full time for a year and either defer their study or study part time. This will help create a savings gap and reduce your debt at the end of your studies.

New workers

People when they get their first job tend to spend now and save later, but this is a pattern that is risky and tough to get out of. This is risky because you can work hard for years and have very little to show for it.

To avoid this mistake, the moment you start working you should automatically transfer a percentage of your pay to a savings account that you can’t access. This allows you to save whilst leaving you money to also enjoy life.

Singles

Waiting to meet a future partner before building a financial plan is a common mistake made by singles. All singles should have a financial plan and build their own assets.

You should consider taking in a boarder until you can manage a mortgage on your own. Another option is buying an investment property in your own name and renting it out.

Couples

A mistake made by couple is not thinking about protecting themselves financially. This is generally because you are feeling emotionally secure, however the number one reason couples fight is money.

Couples need to talk about money openly. They should also insist on transparency and understand the ramifications of any financial product they buy and what it could mean financially for them. Financial product can vary from a phone, right through to a house.

Dual Income No Kids (DINK’s)

Because DINK’s tend to have a higher disposable income, they run the risk of spending too much as opposed to saving.

Yes it is important to enjoy life, however you should also understand your goals, priorities and values so that you are more motivated to save and not as tempted to spend when you don’t have to.

Families

The biggest risk parents’ face is trying to keep up with others. It can be tough to keep up with friends who spend more on their child than what you can afford on things such as private school education or the newest toys and gadgets.

You shouldn’t feel the pressure to keep up with others and understand that getting yourself into trouble financially now could result in added pressures later.

Divorcees

During a divorce or separation both parties can be emotional and risk things getting messy. In this situation the biggest winners or normally the lawyers involved.

If you are in this situation you should seek good advice early and try to agree early on a fair and equitable split. This allows you to start again with more dollars in your pocket as opposed to a lawyers pocket if things get messy.

Source: Debra Killalea, news.com.au

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

Phone: (03) 9723 0522

Suite 2, 1 Railway Crescent
Croydon, Victoria 3136

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.

Online shopping and other peer to peer marketplaces such as Gumtree are a great way for businesses to purchase assets such as furniture at a reduced cost compared to retailers and save valuable time that you would have to spend travelling to the shops. However it is extremely important that enough evidence is provided to prove claims to the ATO. These tips below will assist you in verifying claims for online purchases and avoid trouble with the ATO.

Ensure there is documentation to confirm the purchase

To validate the online purchase, it is most important that you provide documentation to prove the purchase was made. The document should include:

• Name of the seller
• Date the document was created
• Date of the transaction
• Nature of goods or services purchased (you may write if the supplier does not specify)
• The expense amount, in the currency it was incurred

A bank statement showing confirming the purchase amount and the date you incurred the expense can be used as substantial evidence.

Prepare your own documentation

This is more likely to be necessary if you purchase off an individual as opposed to a business.

Individuals may just be selling something to get rid of it and therefore don’t provide the documentation you require. If this is the case, prepare a document containing the necessary information about the online purchase as stated in the previous tip and then get the seller to sign the document to confirm the purchase.

Keep photos and screenshots involved in the buying process

Do not delete any messages between yourself and the seller and take screenshots to use as backup in case any messages that can be used as evidence get lost. A screenshot of the item being advertised and a photo of any exchange are a good source of evidence.

Keep related receipts

These may not be directly related to the transaction, but may help show that a transaction took place at a particular time or place such as a bank withdrawal or another purchase at the place the transaction took place.

Source: McKinley Plowman

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

Phone: (03) 9723 0522

Suite 2, 1 Railway Crescent

Croydon, Victoria 3136

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.

In December 2015, the productivity commission called for Sunday penalty rates to be reduced to the rates of Saturday payments. This approved reduction will gradually come into effect over the next few years. Workers in the retail, fast food, and pharmacy and hospitality industry are impacted by the penalty rate reduction.

Why there should be a reduction

Along with the productivity commission, small business wanted these changes because it improves their ability to operate and make profits on Sundays as well as their ability to hire more staff. They believe this will allow them to reduce prices on Sundays and create a better customer experience.

Why there shouldn’t be a reduction

However unions and the workers impacted by the penalty rate reduction argue that the reduction takes money directly from, money that they depend on for living expenses. This reduced income would also reduce spending in the economy. They believe that original Sunday rates were fair compensation for missing various social events including spending time with children at home. They also argue that there is no guarantee that these business will take advantage of the reduced rates to hire more staff and reduce their prices to create a better customer experience.

How retail workers are impacted

• In the retail industry the Sunday penalty rate for full and part-time employees will be reduced from 200% to 150%
• For casuals the rate will be reduced from 200% to 175%.

How fast food workers are impacted

• Full-time and part-time level 1 employees rates will be reduced from 150% to 125%
• Level 1 casual employee rates will be reduced from 175% to 150%
• No change for level 2 and 3 employees

How pharmacy workers are impacted

• Full-time and part-time employees working between 7:00am and 9:00pm will have their rates reduced from 200% to 150%
• Casual Sunday rates reduced from 200% to 175%

How hospitality workers are impacted

• Full and part-time penalty rates will be reduced from 175% to 150%
• Casual Sunday rates will stay at 175%

Source: ABC news

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

Phone: (03) 9723 0522

Suite 2, 1 Railway Crescent
Croydon, Victoria 3136

Email: integrityone@iplan.com.au

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.