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.
History tells us there are some places even angels fear to tread — and for good reason.
Perhaps lending money to friends and family is one of those dangerous places.
Odds are somewhere in your family tree or circle of friends there's someone you care about who's not good with their money. They might carry multiple credit card debts, short-term loans (are probably addicted to After Pay buy-now-pay-later credit) and still somehow afford UberEATS food delivery services - when they absolutely can't get out of the house.
Eventually, they may even end up on the slippery slope to ruin, of Payday Loans.
- The reality is you can’t lend money to everyone and for the sake of maintaining your relationships, it might be best not to.
One of the common questions in the back of many people's minds is when should I update my Will and Power of Attorney documents?
Wills and other estate planning documents (like a Power of Attorney or Medical Guardianship) are 'live documents' that naturally need to be updated at different times of our life.
The trick is to learn to recognise the signs when you need to consider an update.
What are the odds of needing to claim on your personal insurance when you're in business?
The more people you're in business with the more the statistical realities of life increase and can push back against our hope for easy and risk-free business life.
Hard Fact of Business: The more business partners you have, the more statistically heightened risks you need to manage.
Some things in life affect us all equally—regardless of who we are
These things aren't personal - actually, they're just statistical.
These numbers and what they warn us about are the same for everyone without discrimination.
In the perfect world, everyone will have enough money to be able to purchase the right amount of personal insurance they need to make sure every part of their life is protected from the statistical realities we all face - we call these statistical risks The Numbers of Life.
Looking for a partner for fun times, financially secure, and broad-minded? (a Business partner that is?)
Perhaps because of the uncertain business climate or the rise of the Gig Economy, more people are deciding to pool their talents and go into business together.
This can take the form of a formal written agreement to work together, or an informal arrangement to work independently but support and preference each other's independent businesses by referring work to each other.
Are you thinking about whether to provide a large amount of money to a family member?
Providing money for family members for a home loan deposit or an aged care accommodation bond is increasingly becoming a part of many people's lives.
But how do you protect the Giver and the Receiver from the unintended consequences of these decisions?
The answer is with a legally drafted and documented Family Loan Agreement.
- Federal Budget Summary 2021-22
- Three facts of modern life: Death, Taxes & Increasing Petrol Prices
- Learning new skills to survive another different kind of year
- Is it time for you to get more money into your super fund?
- Helping adult children become financially independent is harder than you think
- Australian Company Directors now need a Directors ID Number
- COVID-19 & Life Insurances FAQs
