Introducing Rebbecca Devitt, author and homeschool advocate

I grew up in the mainstream education system, attending the local public primary school and later a private high school, then onto one of the ‘sandstone’ universities. I didn’t encounter any homeschoolers growing up, so the whole concept seemed rather mysterious to me.

Through my work with Money School and Maker Kids, I encounter a number of homeschool families, many of whom have become my clients – so the mystery has somewhat dissipated, but it has been replaced with respect. I find it refreshing that these families actively pursue teaching their children about entrepreneurship and money, and I was keen to learn more.

Enter Rebbecca Devitt. Read more

Should I pay off my mortgage or make extra superannuation contributions?

Hands down the most common question asked in our recent ‘Women and Superannuation’ seminars for Department of Local Government and Communities is:

“I have some extra income at the moment.
Should I use it to pay off my mortgage
or put it into superannuation?”

Spoiler alert: the mathematics is crystal clear on this one, which is why most financial advisors won’t hesitate to reply: “Put it in superannuation”. This fails to account for your emotions and stress levels, which aren’t nearly so clear-cut. Read more

Real lost super: could 93% of your superannuation disappear?

When we hear ‘lost super’, we imagine lots of funds that we don’t know about. This story is about another kind of lost super. It’s the money you had in your super account, but it’s disappeared.
So, could 93% of your superannuation disappear?
Very short answer: yes.
Longer answer: if you stop contributing, and you’re paying fees and premiums, it can happen. Do that for over a decade, and you could have next-to-nothing left.
My statements come from a real-life example, not a hypothetical one.

Read more

Can you learn about share trading by playing the ASX Sharemarket Game?

Twice a year, the Australian Stock Exchange (ASX) runs a Sharemarket Game (I’ll call it ‘The Game’ from here on in). There’s a public version for any adult and a school version for students. I’ve played it several times and I’ve sucked at it. The photo at the top of this post is how my portfolio performed the last time I played.

This has been a conundrum for me, given my real life experience with shares has mostly been successful.

I have gone back to my engineering training and done a root cause analysis (RCA) on why I can’t seem to do well at this game. I won’t bore you with the RCA diagram. I’ll skip straight to the bottom line, the root cause of my problem, and it is this:

I am lazy. Read more

Free and cheap financial education resources

Want to learn how to manage your money wisely? Good news! There are truckloads of solid financial education materials available – for free – to help you get up to speed.

Unfortunately, sometimes you’ll come across a financial product dressed up as education – a wolf in sheep’s clothing. It can be hard to tell the difference. To help you avoid the wolves, we’ve curated our favourite resources into this list.

Read more

Kidpreneurs on show at book launch

Feeling low? Get yourself around young people starting businesses. Their enthusiasm is contagious.

The 12 kidpreneurs selling their wares on Sunday 13 November at East Fremantle Yacht Club have given me enough good vibes to handle whatever life cares to throw my way for the rest of 2016.

Here’s the wrap up from the Showcase – who was there, how they went, and contact details in case you’d like to order some of their products or feature them in a media article. Read more

Bunny Money Book Launch & Kidpreneur Showcase: pre-event information

This post contains important information for event attendees including parking, opening and closing times, what you’ll find for sale from our kidpreneurs and Money School, and other activities you can do to make an afternoon of it with your kids.

Read more

Kidpreneur Series: Stella’s Little Bursts of Happiness

Using affirmations to help you think positively is a popular and effective technique among adults. After reading affirmations written for her by her mum, Stella realised kids needed affirmations too – but they needed ones for kids. Enter Little Bursts of Happiness.

Read more

Kidpreneur Series: Ben & Holly’s iLOOMinate Perth

Our third kidpreneur team is dynamic brother-sister duo, Ben and Holly. They’re making assorted loom bands under their catchy business name, iLOOMinate Perth. For those not in the know, a loom band is a bracelet made of plastic loops. It’s the jewellery choice of many students… and now me too after seeing the rainbow ones in their range. Read more

Kidpreneur Series: Beauty From Ash’s Products

The second kidpreneur in our series is actually the first one I’d met as part of this series. Her name is Ash. She is 11 years old and is the original inspiration behind the Showcase coming up on 13 November. I’m in awe of her commitment. As you’ll see in this article and on her Facebook page, she’s really put a lot of effort into creating a fabulous product and ensuring her business is sustainable.

Read more

Kidpreneur Series: Jake’s Green Leaf Company

Our first kidpreneur in this series is eight-year-old Jake. I was lucky enough to meet Jake last week. I was blown away by his enthusiasm, organisation and ambitions for his business, Green Leaf Company. Read more

Housing affordability: you can’t spend your way out of this

There’s a problem with the way Gen X and Y view housing affordability, and it’s going to ruin the financial futures of their children if they don’t snap out of it pronto.

I read this article in which the author says she is spending money on brunch because she can’t afford a house, like it’s the only way she can console herself about her dire financial future. Read more

Lacey Filipich - Money School Financial Training Courses

Becoming a self-funded retiree: more of Fran’s story

If you’ve read anything about Money School, you’d know we wouldn’t be here without Fran, the mother half of the our mother-daughter team.

Fran’s a bit shy. She’s more than happy to be in the background. Getting in front of a camera was a daunting task for her, but with a little coaxing we got there. It’s a shame she’s shy because Fran’s is the more inspirational story in our opinion. Starting investing at 48 years old and now a self-funded retiree, her life proves it’s never too late to start.

We’ve finally convinced her to tell more of her story. Here it is, in her own words:

Read more

Calling Perth Kidpreneurs!

Are you a primary school student based in Perth with an entrepreneurial idea? We’d love for you to join our Kidpreneur Showcase at our ‘Bunny Money’ book launch.

Why are we holding a Kidpreneur Showcase?

We believe in raising entrepreneurial kids that can spot a problem or market opportunity and act on it. We’ve heard from some of our clients and seminar attendees recently about great examples of entrepreneurial thinking from their kids, for example:

  • Ash starting a lip balm business,
  • Kale and Jewel raising hens to sell their eggs and manure to neighbours, and
  • Charlotte and Leo running a curbside bake stall with a $40 loan from Mum and Dad.

Read more

Monopoly and Real Life | %%sitename%%

Investment property strategies that work: buy and hold

Just like in Monopoly, you have to be holding the investment property to earn an income from it. If you plan to sell quick, there’s a good chance you’ll lose. Read more

Tools for teaching children to save: Introducing Bunny Money

Want to get your children excited about saving? We have the book for you!

Bunny Money is the story of Nessa and Nate, a pair of twins getting $100 each from Gran for their 10th birthday. But that’s not all they get – the most precious part of Gran’s gift is the lesson she gives them about saving over the following year.

Buy the pack for $22 + postage and handling* Read more

women who became entrepreneurs after having children

Are Extra Superannuation Contributions the Best Decision?

I recently had an interesting (and somewhat frustrating) discussion with a financial planner about making extra superannuation contributions. In general, she thought it was a good idea. In general, I was against it. We both agreed that specific situations warranted different approaches, but in my specific case – a mid 30’s woman – she thought extra contributions were wise. I disagreed.

I believe most financial advisors would recommend extra superannuation contributions to minimise tax and boost retirement income. So, what else should you be aware of when making this decision?

Read more

Wading into the ethical banking quagmire

Ethical banking started in response to educated consumers wanting assurance that their money is not being used to cause damage. Like recycling, taking shorter showers and buying your food from the local farmers market, it’s another way you can personally contribute to a sustainable future.

Inevitably, the devil is in the detail:

  • Who decides what’s ethical?
  • How do we ensure those with the ‘ethical’ badge are really doing the right thing?
  • What’s the cost to the consumer?
  • And the bottom line: which institutions could you bank with if you want to bank ethically?

Read more

Can today’s teens break into the property market?

Having bought property in 2001 at 19 years old, I get asked this question at least once a month:

 Could a 19 year old do the same today, in 2016?

My short answer is: yes, they could. I’ll outline how in this post.

The far more important question is: if they could, should they? Well, that’s a slightly longer answer. Read more

Money School Achieving Financial Independence Course - Get your financial education

Concept to launch in 29 days: What I learned

By Lacey Filipich BEng(Hons) MAICD NFP Gov (Cert)

After six years of struggling to get my course on financial independence out of my head and into an easily digestible format for the masses, I’d had enough of ‘part-time entrepreneurism’. I decided I was taking our Achieving Financial Independence course online. This post is a summary of what I learned in the process. I hope you enjoy it.

Read more