Blog
Welcome to our Personal Finance Blog
Money bewilders most of us. How to spend it, save it, invest it, and how to best protect the person who makes it.
These questions we all face daily — a puzzle we all attempt to understand and solve just about every day. Yet despite money's centrality to our lives and businesses, it's something we all grapple with, and mostly in private.
- Money is the 'Lord Voldemort' of topics; feared by most and mentioned by a few. It's oddly uncomfortable to discuss socially and rarely even with our partners, parents, and children.
Perhaps that's because managing our money and life's risks inevitably involves the fusion of both the emotional and practical aspects of our decision-making processes. The most difficult of questions are those with both economic and emotional answers.
Our educational Personal Finance Blog is for people who want to grow and remain wealthy. And while the journey toward wealth is clearly marked, you still have to be looking in the right direction.
At Sapience, we're all about The How.
Life Insurances are important financial tools that help us manage the inevitable ups and downs of life, love and business. They're an easy cost-effective way to safeguard our unpredictable futures, just in case.
But many people leave it too late to prepare for the unexpected and get their insurances in place, many suddenly finding themselves Uninsurable.
So when might it be too late to get insurance?
Quick Federal Budget Summary for 2023-2024
The 2023-24 Federal Budget has a number of highlights relevant to many of our clients, friends, and supporters explored further below.
Few things are more disturbing to a business owner than the risk of being caught in business, with their former partner's spouse
Any relationship involving more than one person is complicated.
- Add a business relationship with other people – whether your spouse, other family members, or a non-family member, and any relationship breakdown involving these stakeholders will no doubt affect the business too.
- Add shared ownership of a profitable business with another person – and you have the perfect storm waiting for you in the future if you don't take action today.
The answer is in creating a simple legal document called, a Buy- Sell Agreement (BSA) and this is why.
Are you a business owner (or the significant other of a business owner)?
Most business owners are optimistic folks who look forward to a bright future, even under adversity. I suppose they need to have this remarkable ability given the risks they take and the challenges they face.
That said, we have found there are 5 Key risks that all business owners need to be aware of and take action on to protect themselves and their families, from their business.
This simple concept, is often quickly dismissed with the question, 'Why would I ever need to protect myself from my business?"
If you don't know the answer to this question, you definitely need to read this article.
How to split an inheritance without splitting your family
We're all entertained by the stories of contested Wills, Disinherited Heirs and Trust Fund Children who have never worked for a living, amongst the celebrity rich and infamous. It seems you cannot even walk past a supermarket register today, without another Shock, Scandal, and Gold-digger headline prompting you to pick up one of the trashy glossy tabloid magazines.
Sure, creating division among family and friends makes for great Hollywood storylines, but for the rest of us, it's something we actively seek to avoid.
If your relationship has run its course and you're heading for a split, so might your Super too
With Superannuation becoming an increasingly significant asset in the property pool for separating Australian couples, superannuation splitting laws now allow super to be treated like property and divided when a relationship breaks down.
The Australian Family Law Act now recognises Super assets held by a couple as part of the family assets, and as such super can now, be split and divided between the separating parties, (including defacto spouses) as part of a Family Law Court property settlement in three different ways.
- The Difference between Small Business Exit plans & Small Business Succession planning
- What's the backup plan when the business stalls but the Overhead Costs keep coming?
- Who can make decisions for you when you're living with Dementia or a brain injury?
- What's the backup plan for you, if your business partner died tonight?
- Getting more money into your super when selling your family home
- The Average Lifetime Cost of Care for the Top Five Major Health Conditions
- New National Secure Document Storage Service
