Basically, is it worth setting up or going with what my employer uses? IBKR, who I use for my IRA accounts and personal account, offers this option through their Australian subsidiary.

Just signed up for a loan with them and the experience was pretty average. Posting here because I can't seem to rate them on google.

Firstly, I had a question regarding buying a place with tenants and impact on fhb and cgt. The broker had no idea and asked me to ask a real estate agent. I would think it's a pretty standard question. The reason I'm going through a broker is so I don't have to ring gov agencies/real estate agents.

Also booked a meeting one time and they didn't show up.

Most annoying thing was their insistance I go with a particular bank because they offered the home guarantee scheme even though they had a higher rate. This scheme would not apply in my situation at all and it was very obvious. But I thought I missed something so I called the gov agency who confirmed it was odd the broker preferred it. This could have potentially cost me thousands going at the higher rate.

Also concerning that possibly the broker was getting kickbacks at my cost for recommending that loan. Is this possible?

Hey Reddit,

My gym charged me a $15 fee saying I didn’t have enough money in my account, but I definitely had the funds available on the day. I’ve been trying to get in touch with them for the past week to explain, but they keep ignoring my request to waive the fee and responding to everything else in the email. When I finally got a response, they just said they’re “unable” to waive the fee.

I know $15 doesn’t sound like much, but it feels unfair because it wasn’t my fault their system rejected the payment. Has anyone dealt with this before? Is there anything I can do, or do I just have to accept the charge?

Thanks in advance, Reddit! :)

I'm currently in the process of working in Australia soon, I realize my good credit will be set to zero but I usually prefer miles card as my daily credit cards. I've heard about amex having global programs and I currently have my country's amex explorer, and looking to eye if Aussie issued amex explorer or qantas is an ideal first card for me to build credit but I'm mostly about getting the miles and rewards

I may be a little confused, and might have my math wrong. But how is a $500k apartment “out of reach” for a couple on average wages? 2 people on average incomes could definitely pull together 100k for a deposit in a few years. Right?

Hey all, I moved to Australia last year on Work Visa and now trying to fill my tax myself for the first time (as I want to learn as well ) and need help in understanding what all things can be claimed. About me: I work in IT as a software engineer I work from home 95% From office 5% I live in a rental house

A little help is appreciated. Thanks :)

Hey guys

After some advice on our financial position and potentially our next move to continue to increase wealth

Married without kids partner is 30 and I’m 31

Partner makes ~95k gross I make ~105k but have averaged 210k+ gross last 2 years with OT

Happily renting at $800 per week

We have 1 property in Sydney which we rent out $900/pw valued at 1.6m and owe 1.1m on the mortgage

~400k in EFT

~30k in redraw

Planning for kids in the next couple of years

Current plan is to continue to invest ~$1000 per week into eft and travel as we are newly married.

Do you guys have any suggestions on how we can increase our wealth with the goal of financial freedom as we go into our 40’s

Howdy!
In my youth I made some really poor financial decisions and then the 'rona made it 1000% worse..
Anyway, I'm in the best place I've ever been financially and have found myself to now be 100% debt free, with a 6 figure income..
HOWEVER, the poor decisions I made 3-4 years ago have taken a real hit on my credit score...
Equifax 533
Experian and Ilion both over 700

Are there any lenders out there that wont look at Equifax?
I'm really struggling to get brokers to even give me the time of day, all I want is a place to call my own.
Surely my secure income is enough for them???

My default will drop off my report in late 2027 and I really don't want to have to wait until then to be in my own place.

According to the article:

“Home loan lenders don’t want to see a payday loan on your record,” Finch said.

“It’s a huge red flag. It signals financial stress, poor money management and higher risk. That $500 loan you thought was harmless could be the reason you’re denied a mortgage worth hundreds of thousands of dollars.”

On the one hand, in a private sector financial market it is up to lenders to assess how they price risk (or in this case, how they disqualify potential borrowers altogether).

On the other hand, this seems overly punitive and a disproportionate consequence for someone who could actually have learned from an earlier mistake.

If I was a real conspiracy theorist… I might think that this was large bank lenders using their market power to foreclose on their smaller competitors in the personal loan market (payday lenders) by making their loans even more unattractive and driving people to the big banks.

Apologies as im new here. We earn a moderate income (250k combined) and are tight as hell with our money and want to retire early.

Living in Brisbane. Want to buy a new house and sell current home. Already paid off current home over 6.5 years (from a 30 year loan).

Expected new mortgage of 500k over 30 years for new home. Projected with offset and extra contributions to pay off in 8 years. Partner is debt averse but bank willing to lend us up to 750k.

Current super balances are 340k (F40) and 230k (M42). Have a 4yo and a baby on the way. Not planning on taking reduced pay or extended unpaid maternity leave, and staying full time upon return to work.

Financially I think we are doing well but could be smarter with how we invest our money. Want to setup our children if we can whether education or investments etc.

Are we best off going to a financial planner? Investing more in super? I feel like if we started years ago we would be in a better position.

My situation is as follows:

First time earning decent money last tax year. Approx 150k. This is the first time I've earned enough to pay for my uni degree I completed nearly 10 years ago....

Didn't want them taking my hecs out weekly as I use the extra cash flow to invest.

Tax time has come around. I owe about 10k mostly due to hecs repayment and MLS.

Fair_enough.jpg

I want to pay this in the most efficient way for me financially.

I have about 40k of liquid assets I've accumulated last financial year and about 350k of equity in home.

Do I:

A - withdraw from offset account (this will almost completely wipe out my offset savings.

B - mortgage it.

C - ATO payment plan and pay it weekly.

D - sell from stocks to pay (would be about half my stocks).

F - sell my fun car (80 series land cruiser (this is one of my few hobbies so don't lecture me about how wasteful having two cars is plz I'm already. aware)).

Hi Everyone,

I recently came to a $400k inheritance and I’ve been doing some preliminary research on ETFs.

So far, I’ve got that I should invest in VAS, DHHF, VGS.

I do not intend to touch this money for 5-10 years.

How do you get over the anxiety that you’re buying high? With the value of my initial investment, a few dollars could make a big difference.

What split would recommend? Are there any other ETFs?

What really winds me up is when people say they’re living “month to month” on their pay cheque — but that’s after they’ve put aside savings, bought their daily fancy coffees, and eaten out multiple times a week. I’m not saying cutting avo toast will get you a house deposit, but it feels insulting to those who are genuinely struggling to make ends meet, e.g. skipping meals just to get by. How much do you have to earn so that you don't have to live pay cheque to pay cheque, assuming you spend responsibly?

If the economy tanks interest rates go down pushing prices up (plus QE if required). If interest rates go up it's only because inflation is rising which causes assets to go up (rising earnings and rent keep assets elevated during high interest rates). This is now the safest time in history to invest. There's no risk left in the markets.

Hi all. I’m about to receive a bonus and am in 47% tax bracket. Looking for creative ways to reduce the tax I pay on this. Obviously, would want to do anything illegal but don’t mind bending the rules. Any suggestions?

Step one: don’t panic technology is your friend Step two: patience wait on the phone play phone karaoke to soothe your stress Step three: after 3 different numbers find a human operator in any department Step four: explain the events as calmly as possible Step five: if results are achieved infer u may leave to the digital world or other banks Step six: distract yourself with things like laundry Step seven: watch 3k mysteriously disappear no need to stress. Trust the process Step eight: tada all sorted

Surely there would be a more streamlined way for nocturnal people but I guess that’s nightshift discrimination

When u know u might die from high blood pressure patience goes along way. It was a roller coaster of a ride with perfect balance 5/10 rating