Keep your cash flowing
As we head into the Christmas holiday season you are most likely looking forward to some relaxing times ahead, but one thing that should not be taking a break is your cash flow.
Invariably there will be a blowout in your personal spending over the Christmas period on food, presents and holidays, while the normal household bills keep rolling in.
It’s much the same for businesses. It can be all too easy in the busy lead-up to Christmas to let chasing bad debts and invoicing clients take a back seat. But if you don’t act now, you may not see any cash until February. Meanwhile your regular bills will still be coming in and wages will also need to be paid.
So what can you do to make the holiday season financially stress free?
How to avoid unwanted ATO attention
Nobody wants to attract unwanted scrutiny from the ATO. Tax audits can be stressful and potentially costly.
Weighing up the cost of risk – insuring your business
Running your own business can be rewarding, but there is also risk involved when you put your own money and reputation on the line. What would you do if your shop was destroyed by fire, a client sued over advice you gave, or your business was disrupted for months in the aftermath of a freak […]
Bankruptcy: Not the end of tax considerations
With personal debt on the rise, many Australians are struggling with their finances. In most cases, a repayment plan can be worked out to get you back in the black. If that’s not feasible, another solution can be to declare bankruptcy, but this can have serious implications if you are running your own small business. […]
Millennials are FIRED up for financial freedom
Millennials are often accused of living for the present and wasting their money on smashed avocado. So it may come as a surprise that younger Australians are at the vanguard of a growing movement committed to the old-fashioned virtues of thrift and saving, but with a modern twist. Whereas the mantra of the Baby Boomers […]
Superannuation and inheritance: making your wishes known
People often think their superannuation will be treated as part of their estate when they die and distributed according to their Will, but that’s not the case. Unless you have nominated your beneficiaries, the decision as to who receives your super is in the hands of the trustees of your fund. When that happens, the […]
Ready…set… Are you good to go for the new financial year?
The end of the financial year is the cue for most of us to look at our financial position heading into tax time. Hopefully you’ve made progress towards your goals. But if you find that your expenses are trending higher than you’d like or—shock, horror!—higher than your income, this could be the perfect time for […]
Maddern Financial Advisers named a finalist for the Fintech Business Awards 2018
Maddern Financial Advisers has been shortlisted for the prestigious Fintech Business Awards 2018. A local firm based in the prestigious leafy suburb of Malvern, in Melbourne, is in the running to take out one of Australia’s top industry awards. Maddern Financial Advisers has been shortlisted as a finalist to win one award in the Accounting […]
Managing big life changes
You’ve probably heard the saying ‘change is as good as a holiday’. And sure, in some situations, altering your circumstances can be refreshing. But not all major life changes make you feel immediately clear, secure, and ready to take on the world. When everything you know is turned upside down, moving forward successfully is not […]
How to be prepared for climbing interest rates
Interest rates have been low for so long it’s tempting to think low rates are the new normal. So when the Reserve Bank suggests that a cash rate of 3.5 per cent is the new ‘neutral’, people take notice. Even the Prime Minister warned Australian householders to prepare for higher interest rates ahead.i The official […]