A new report has revealed that Australians are starting to cut back on luxury items including dry cleaning, expensive restaurants, designer fashion, cars and quite a few others.
Interestingly, charity has been included in this list. We donate to charities we feel passionate about because we can afford it and generally when there is a real need. I am not sure if charity should be included as I personally do not see it as a luxury.
This is a fascinating article on the super rich.
John McAfee, founder of the antivirus software McAfee was worth $100 million but the real estate and stock crash have wiped out $96 million dollars of his fortune.
if i had $100 million dollars I would be conservative, I wouldn’t spend lavishly but then again, I don’t have [...]
I’ve been MIA for several months due to a variety of reasons, laziness and complacency being two of them! But I’m back now and will try to do a better job of updating this blog. I guess the best place to start would be to revisit those short-term goals I set back in July ‘08:
Move [...]
This is a really interesting article from today’s paper in Australia.
Australian loan borrowers are not shopping around for the best deals so are paying a whopping $2.7 billion a year in repayments!
HOME loan borrowers are paying an extra $2.7 billion a year in repayments because they don’t shop around for the best deals.
Despite the [...]
A recent survey conducted in New South Wales, Australia shows that almost 30 percent of residents have no savings putting them at high risk during this recession.
Another survey conducted in Western Australia showed that 27 per cent of their residents are in exactly the same situation.
60 per cent of those from NSW who took part [...]
Across the US, the number of forclosures has skyrocketed. This Collective Journalism group investigation puts a human face on those affected by the housing crisis.
tags technorati : US foreclosure economy finance
I’m a big fan of financial expert Suze Orman. She has a no nonsense approach when it comes to financial advice and sometimes brutally honest with people asking for help.
Suze has put together a recession rescue plan with plenty of helpful advice and links to resources. Well worth checking out.
cnn.com reports:
Do you know what your [...]
We are now thrift store converts. You can buy some really great clothes at a fraction of the price and in most cases, contribute to the many charities who run the stores. The biggest hurdle is getting over your own preconceptions.
Some sobering news this morning with figures showing an increase of home repossessions (foreclosures).
In New South Wales, some 300 homes are being repossessed every month despite huge falls in interest repayments.
About 20,000 mortgages are now over 90 days behind in repayments.
smh.com.au reports:
A GROWING number of NSW residents are on the cusp of losing their homes [...]
This could have significant consequences for the Australian economy. I have never been comfortable with what appeared to be an over confident belief in Australia that we should basically put all our eggs in one basket. In this case, China’s basket. 12 months ago we were booming and it was all due to a strong [...]
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