Australia's 2010/2011 Budget

The Labor party must want to get kicked out of the Government. This Budget is just plan stupid, seriously.

Why is it stupid:

1. The labor government expects the highest terms of trade in 60 years. Nice one Swan
2. 1 Billion Dollars to fix labor failed Immigration Policy
3. 1 Billion Dollars to fix labor failed Pink Bat Program

It is an election year and they got the budget wrong, im not going to write how else the budget is stupid as the list would be to long but on the same day the budget is announced there is a news story that 79 Asylum Seekers have been housed in a Motel in Brisbane. Nice use of tax-payers money. How can this be allowed to happen and it was even in Wayne Swans electorate and he claims not to know anything about it. Im 95% sure labor will not be in Government after this election.

Getting Kids to start Young

Does your child save any of their money?
What money should he or she be saving and how much?

A child should have a savings account that they cannot use until they are 16 which means that they arent going to spend it on toys and sweets.
They should be saving atleast 60% of there birthday money, if they get pocket money atleast 50% of that aswell and if they have a job depend on how much the earn the should be saving atleast 10% if they earn under $50 but over that they should be saving 50% of everything.

When i was Younger i didnt get pocket money but i did have a paper route which i got between $15 - $30 a week and 95% of that went into my savings by the time i was 15 i had $1,300 in savings. Then i got a job a McDonalds and i worked between 15 -20 hours a week earn up to $250 a week. I was told by my parents to say atleast 50% but i though what do they know its not like i dont know what i am doing and as i didnt go out much i saved 80% of all money that i earn and by the time i was 17 and a half i had $6,000 in savings. These savings are not to be used though my first car or a Computer the reason i was saving was for the sake of saving and to improve my financial future. At the time i was getting over $240 interest a year or $20 a month which i thought was awsome.

Now i continue to saving and my saving just keeps growing.

Also refer back to the last post about budgeting it meant that i earned in interested $0.65 a day, $0.02 an hour and $0.0004 a minute

Christmas is Coming (Budgeting)

Oh yah Christmas is Coming that means we get presents soon.

Oh wait but that means i need to buy presents soon.

Well it might be to late for this year but Budgeting can really make a difference.
For example if you set aside $2.75 a day for a whole year that is over $1000 that you would have for presents.

Budgeting is essential in you every want to get anywere in life. Like saving up for a car or paying off a loan. If you need to Budget break it down into months first and if you think it is still to big break it down into weeks or if you just like the maths like me go futher and break it into days, But no futher unless it is purely for the maths. Hours, minutes and seconds might seem interesting to you but just confuse other people and at a late dat even yourself.

Stick to your Budget

This may be hard for the first few day or weeks but they say after 28 times it becomes a habbit.
If you are saving for something make sure that you dont have a keycard for that account and make sure it is with a different bank to you everyday spending account. This way it takes 3 days to transfer the money and you are less likely to. Also if you think you need to dip into your saving to pay the light bill then you need to evaluate your budget to find out were it is flaud and how you can improve or fix it.

A little stuck

Im a little stuck on what to write about next. I know that it has been a year and a half since my last blog but i need some thing to write about. leave a comment if you have any ideas. Should i just start blog about the global economy?

Commission Idea #9

Commission is what you get for refer someone when they buy a product. Eg you refer someone to a car sales man and he sells them a car worth $20,000 and he will pay you $500 for helping him making a sale. The most common way to make commission is though selling people a product for a company and then they pay you for getting them the sale.

Company's like Neways or ACN pay you when you have sold someone of there products for Neways this could be anything from shampoo to a jewellery and for ACN they are a commutations provider in many different country's around the world so when you sell someone a phone plan you get some of what they are spending on the phone bill eg they have a contact of $50 a month and you might get $2.5 a month from that but over 100 people that's $250 and you keep getting commission for there client and up to the 7 people away from you so this is a big money maker.

In ACN you can earn as little as $100 a month to upwards of $100,000 a month and the beauty of it is you don't need to spend much time on it only enough to maybe get another 2 clients a week. Over a period of a year it can make a big difference to you bank account and it is always help to have more money coming in.

Cash in hand Idea #8

Now cash in hand is not legal but can help pay the bills as there is no tax. For example if you clean offices or houses for cash in hand and get paid $20 per hour and you work 1 hour every work day then at the end of the week you will have $100 which can help pay for rent and it may not sound like a lot but over a year that's just over $5000 so you may even save it. If you have to pay $300 a week for rent then you will only have to spend another $200 a week on rent which in times of when the economy is unstable then this can really help. I myself have used this idea.

What is do is on the weekend usually a Saturday I go to one of the local fair and do temporary tattoos (the cost of the machine is about $360) and pay to set a stall the average cost is usually for setting up a stall is $30, then I sell tattoos for a range small for $2 and large $5 (plus specials). The average total cost for power, ink and other items needed (this includes stall set up price) is usually $130. On average I make between $500 to $700 profit a fair after expenses. Which pays for my rent for that week and I still have a $150 - $450 left. This idea can make you a lot of money but just make sure that you choose what you want to do carefully as sometimes the easiest makes the most.

P.S. I usually spend 5 - 6 hours at the fair (a very good hourly rate).

Financial Goal Idea #7

Everyone should set a financial goal as this helps you stay on target to retire and still have and income.
Every week i save $40 and put it into a savings account (that i never touch EVER) till I retire at the moment the average interest rate for a savings account in Australia is 7.25% and I would be working 50 weeks a year so I contributing $2000 a year to my savings account.
After 45 years of work (age 20 to 65) I would have $662,129 in savings (before taxes). From that year on I would be able to earn just under $50,000 a year on interest alone(before taxes).

This is also not using bond or any other saving techniques which may yield a higher return making the amount of money that you would have may be larger there for changing these figures. This is one of the slow ways to make money but one of the easiest.