We need to talk about money

After all, money is just a medium of exchange. It cannot be used as a transportation, you can’t it eat, you can’t drink it, you can’t wear it, and you can’t live in it. However, it enables you to buy food, drinks, and transportation that allow you to make live easier. This is why talking about money is important.

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Talk about money

Managing our money and talking about this topic with your partner, children or family members is important. For most of us, taking care of our finances is a daunting task. Easy accessibility to credit, high interest rates as well as lack of knowledge ensures that many people and families are actually living deep in debt and way beyond their means.

In order to avoid getting in bad debt, people need to teach each other on how to properly deal with our personal finances. If we’re not taught how to mange money at young age, we will be making a lot of mistakes with our financial decisions as we grow older. The reason many men and women are struggling with handling money is actually quite simple – we don’t understand how to do it.

When money is tight, we don’t believe we’re making enough in order to put anything aside or develop anything even remotely looking like a financial plan. As our earnings scale up, we very quickly consume this additional cash and revel in our new-found freedoms.

If you already have a partner in life, both of you have to come up with a list of every one of your short, medium and long-term goals. Include anything and everything which will likely have a substantial financial commitment. These include your retirement, holidays, large purchases, building an emergency fund, etc.

Nowadays, talking about money seems awkward to many. But the truth is, this topic is important to be discussed. Continue reading at: https://www.watoday.com.au/money/planning-and-budgeting/we-need-to-talk-about-money-20190402-p519zx.html

How to bounce back after failure

Failure is inevitable in life, especially in business and career. However, there are some ways to overcome these occurrences and use them to your advantage.

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For some, it may be hard to believe that the most highly successful people are actually the ones who have failed the most. We’ve already learned about these people and their companies once they have made it big. We admire their success yet rarely witness the immense struggle they went through to get there. Since we are usually not exposed to their failures, we are sadly only left to compare ourselves to their achievements.

This in turn can make us believe that our failures are for losers who have no hope to succeed. This makes difficult for us to validate the mistakes we make and problems we experience. Often, we second-guess ourselves and question our abilities. We do not realise that adversity is required in order to succeed.

This way of thinking have affected people from all over the world; thinking that failure is the worst thing that could ever happen to anyone. This is why they are so much afraid of failing. Even as a kid, you have been taught that being wrong and making mistakes are bad. Your mind uses painful memories of the past to provoke negative emotions like fear and anxiety to stop us from making those same errors today.

But the truth is, even the most talented and gifted people fail. Setbacks and failures are inevitable in life and no one is vulnerable. Meanwhile, we’re also never teaching ourselves how to manage it effectively when we experience it, if we live so carefully to avoid failure. So when faced with adversity, it often overwhelms us and causes us to give up.

For more on bouncing up from failure, read this article: https://www.flyingsolo.com.au/live-smarter/health-and-wellbeing/resilience-how-to-bounce-back-after-failure

What to do when your boss becomes a bully

Bullying is not limited to pupils and teenagers. In fact, more and more people are reporting bullying cases in the workplace. Workplace bullying can occur between anyone in the workplace. But perhaps the most difficult situation to deal with is bullying by a boss.

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Bully Boss

The boss is the very person responsible for your advancement within the company. He leads the company into the right direction and creates strategies on how he can make his group cohesive performing like a well-oiled machine.

However, the boss becomes the bully and a lot of times the employees do not realise that they are already getting bullied. Instead, they believe that they have a tough boss or one that simply pushes his employees to get results. But it is important to be able to identify workplace bullying because it can have significant consequences.

One of the most obvious signs of workplace bullying is when you get verbally abused. When your boss humiliates you in front of others, this is already a form of bullying. He may also make offensive jokes at your expense. And he may ridicule and berate his employees on a regular basis.

If your boss spy on your event or stalk you, it is already a form of bullying. Avoid bosses who open your mail, read your conversation, and go as far as tampering with your personal belongings or your work equipment. Usually, this bullying boss is looking for weapons to use against you.

Here in Perth and all of Australia, bullying is a silent epidemic in many workplaces. Workplace bullying here in Australia is in broad terms becoming a risk to the health and safety of employees.

To learn more on what to do when your boss is bullying you, you should check out the article written by Perth Now’s Garry Martin. Read the full article here: https://www.perthnow.com.au/business/workplace-matters/what-to-do-when-your-boss-becomes-a-bully-ng-b881088582z

Outsourcing: Beware the contractor vs employee trap

In the past decade, outsourcing has been the word on every pair of lips of business persons. Outsourcing is nothing more than taking away a part of your processes and operations and entrusting them to a professional team that is not in your company and whose main task is to do this work for you.

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Years ago, outsourcing was used only by large businesses. But thanks to technology especially the internet, it is now available to smaller companies. The internet has paved way to globalisation, threading paths though avenues. These days, tasks and processes are now outsourced day through information superhighways the world over. The Internet provides the access, so why not make use of outsourcing? There are a good many reasons to become an advocate of outsourcing.

One of the main advantages of outsourcing is it allows your business to effectively use your human resources. It allows you tackle your workload even if you do have a small workforce – just like any new small business as they normally start small with few employees. Employees in the company can thus focus on the main purpose of the business and their own area of expertise.

Another advantage of outsourcing is that you save some time on training and seminars. When you just outsource certain service, your employees don’t have to undergo extensive trainings to sharpen their skills on certain tasks. If the work is outsourced, there is then no need to train new staffs, which goes further in reducing costs.

There are many other benefits outsourcing brings. And by knowing all those advantages, you’ll be encouraged to use such type of services. However, just like anything in this world, outsourcing does not only bring benefits, but consequences as well.

To give you a better understanding on what this means, read this: https://www.flyingsolo.com.au/working-smarter/outsourcing-beware-the-contractor-vs-employee-trap

Are you better off selling your home and going back to renting?

Nowadays, it seems that interest rates keeps on rising over time – this has become one of the most popular issues Western Australians talk about. With wage growth remains relatively flat while other household expenses and bills, many individuals and families experience stress and panic mostly caused by mortgage stress.

Many households struggle financially these days. Many experience stress caused by mortgage interest. Some suggest that selling home and renting a new one could be a better, smarter option. It could be difficult to entertain, right? However, it can be just a smart option to consider.

Renting vs selling home

Buying versus renting a home has been an old debate. Both sides have valid points, so it can be a bit confusing. Like we’ve mentioned, recent changes in the tax law have also made owning a home less financially advantageous, so the buy vs. rent dispute continues to evolve.

Sure, many would argue that buying a new house to build equity for your self instead of paying monthly rent to your landlord is a wiser decision. But in reality, there are many financial reasons why renting may be more compelling.

Keep in mind that buying a house is a major investment and life decision. It is not as simple as it sounds. So, you first need to make sure you understand whether or not you are even in a good position to purchase a new home. Your finances are not your only consideration either. So if you struggle socially, professionally and most especially financially, now is probably not the right time to be buying.

Renting is the better option if you are struggling financially. Cost is the most obvious advantage of renting. Although rents can increase, monthly payments are typically less than buying a new house. Paying rent isn’t a waste of money. Yes, you won’t see your money again, but you get a place to live for you and your family. Even when you buy, you’ll be spending a lot of money on interest payments, taxes and other fees.

Read more at: https://www.watoday.com.au/money/borrowing/are-you-better-off-selling-your-home-and-going-back-to-renting-20181008-p508ed.html


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Guide to Washing Machine Repairs: Who to call when you broke your washer

Guide to Washing Machine Repairs: Who to call when you broke your washer

Home appliances are already part of Australian households’ lives. We understand that without them, it would take a lot longer to get most of our household chores done. So with that in mind, many of us try to ensure that we have these technologically advanced tools in our houses that will hopefully stand and function for a long period of time.

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Washing machine repairman

However, the problem with these appliances is that they require regular maintenance to keep their performance level up. This is a real challenge especially for those who spend most of their day outside of their homes and have a lot of other tasks to do.

One of the appliances that require proper maintenance in order to stand the test of time is the washing machine. Owners must know not only how to use this equipment, but how to properly maintain it as well. So if you are a washing machine owner, you need a washing machine repair guide out to know what to do when your machine suddenly breaks. Washers are arguably the most used appliance in any home. To ensure that your family have clean clothing, they need to withstand a lot of use on a daily basis.

Just like any other appliance we have at home, washing machines can break anytime especially if used improperly. Luckily, learning how to repair your washing machine could save you a lot of money and that knowing how to properly maintain your appliance could prevent simple issues from occurring.

When their washers break down, people normally go to their favourite Perth local appliance store and get a new one. However, the same problem could arise in the future, which means they will be in the same position all over again. What they do not realise is that repairs can actually solve their problems–whether DIY or using the help of a professional washing machine technician.

Of course, many of us are not technically minded with electronic repairs. When our washer breaks, we probably do not know where to start or even determine what is wrong. Luckily for those who have no confidence with their DIY washing machine repair skills, you can simply call a trusted repair service provider to do the job for you.

12 signs you desperately need a vacation from work

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Working can sometimes be stressful whether you run a business or you work for a company. Because of the demands that we need to comply, we often feel stressed both physically and mentally. That is why sometimes we seek for a well-deserved vacation.

Taking a vacation can be adventurous, relaxing and can recharge even the most overworked person. However, not everyone has the opportunity to go to a nice beach or spend lots of money on a dream get-away.

Fortunately, there are some ways where we can take a vacation from our work or business without actually taking time off.

If you are an employee, do not sign up for things, if you want to take a break from work. Avoid becoming the person who is always volunteering or stepping up to take on a task because everyone else at the conference table doesn’t seem to be picking up on the importance of getting things done, just wait a minute before you say yes.

If your work is tiring for you, you need to inspire yourself. Take 10 minutes to journal ideas that don’t have anything to do with your job. Determine all the things that you want to achieve in life and what will you do to achieve those things.

There are many other ways to take a break from work or perhaps take a vacation. To know the signs that you need a vacation from work, read this: https://www.businessinsider.com.au/signs-you-need-vacation-from-work-2017-5#/#1-you-begin-to-look-like-your-passport-photo-1


More from Perth Business News:

Guide to Washing Machine Repairs: Who to call when you broke your washer

Bathroom Renovations: Increase the Resale Value of your Home in Perth

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Top 10 tips for business planning

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Many businesses in Perth WA or in any parts around the world start out with only an idea and a desire to succeed. Sometimes it works; more often, it does not. In order to become successful, a business should have strategic planning to anticipate potential issues so that you will be able to prepare the necessary solutions. Strategic planning is a coordinated and systematic process for developing a plan for the overall direction of an organisation and the allocation of resources to optimise future potential.

According to statistics, the primary reasons businesses fail are the lack of a solid plan and the lack of adequate capital. These two reasons are not unrelated, especially in tight economic times. After all, if you don’t invest in a good plan for your business, why would you expect someone else to invest in your business?

Strategic planning is more than just a checklist. Rather, it is the foundation of your business identity, your marketing and sales, your operations, your management approach, and your funding activities. So if you want to start a business of any size or nature, it is important that you make a business plan so that you can minimise risks and stand out from the competition.

An interesting article published at The Sydney Morning Herald talks about 10 tips on business planning. If you want to know more about this topic, you should definitely check out this article right here: http://www.smh.com.au/small-business/resources/top-10-tips-for-business-planning-20130328-2gxx8.html


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Things to consider before Starting a SMSF in Perth

12 signs you desperately need a vacation from work

Things to consider before Starting a SMSF in Perth

Many believe that Self Managed Super Funds or also known as SMSF are absolutely an excellent tool for wealth building, saving tax, asset protection, and protecting your family when you die. SMSF is perfect if you want to have full control of your own fund, investing it wherever you like. However, SMSF is not for everybody.

Starting a SMSF in Perth

There are a number of reasons why somebody simply shouldn’t have an SMSF. If you want to run smoothly with your SMSF, you need to have a significant commitment and a bit of hard work. Before you start, you should think about it many times on how to set up SMSF.

Keep in mind that setting up SMSF in Perth is like marriage as it requires long term commitment. If you are the kind of person that hates getting involved in long-term commitments, then SMSF is not the right kind of investment for you.

An important key right here is, to be honest with yourself trace your history: have you previously jumped around between several jobs, companies or places to live? If you have, chances are this kind of investment is not the right one for you.

An SMSF is an excellent strategy if you want to build wealth. However, you need to ensure you are setting one up for the right reasons. Talk to an accountant or expert financial planner who is trusted by Perth residents, take your time, and educate yourself. Being an administrator, you must need to know everything about the investment to give you the utmost benefit or you may hire yourself a skilled and reliable investment broker or adviser.

7 Types of Insurance You Need to Protect Your Business

Small businesses in Perth are encouraged to get insurance coverage in order to protect their business from unforseen accidents or issues. All of us need small business insurance whether you have been in the business for many years or you’re just starting a new one.

Where can you buy insurance quotes? In every local area, you may find insurance agencies selling insurance quotes to small businesses. There are a few ways you can do to find a great insurance company, but most ways require much work on your part. Do some research so that you’ll be able to choose the best one for you.

Almost every insurance agency has small business insurance quotes available. Business insurance is just another part of what insurance companies offer. Unlike what some business owners believe, buying insurance quotes is not a waste of money. Rather, it can be considered as an asset because it can help minimise your company’s loss in case of accident, property loss, or damage. In addition, it is a typical need of every business whether you are big or small.

7 Types of Insurance You Need to Protect Your Business

There are many types of small business insurance and you won’t know what you need until you start doing more research. Or, you can ask your insurance agency about the types of insurance they offer, study each of them, and determine which type or types of insurance your small business needs

To know the 7 types of insurance you need to protect your business, check out this post from Entrepreneur: https://www.entrepreneur.com/article/241026