New Investors, Working as a Buyers Agent & Buying Happiness
Catch up with the latest content from How To Money, designed to empower you on your own financial education journey.
Dear How To Money Reader,
I hope you’re having a wonderful month, and taking small steps towards your financial goals.
☕️ This will be my last newsletter for a while, as I’ve decided to put How To Money on hiatus, while I focus on The Australian Finance Podcast, creating financial education content for Rask Australia, studying and really enjoying the life I’ve built over the past few years!
You can keep up to date with me on Instagram, or just by subscribing to The Australian Finance Podcast (Owen and I publish new episodes every Monday and Friday)!
As a new investor, you’ll hear the common phrase, “This is general advice only, get in touch with a financial adviser for personal advice tailored to you and your circumstances.”
Why does this phrase appear on repeat across every website, video and podcast that has anything to do with money?
In Australia, in an effort to protect consumers, our financial regulator ASIC only allows licensed professionals to provide you with personal advice, that is tailored to your life circumstances and goals.
This means if you want someone to look at your personal financial situation and give you advice on which investments to make, where to put your super and what insurances you may need, you’ll need to get the help of a licensed financial adviser.
So if you’re looking for personal advice, some places to start your search are:
Make sure to cross reference with the ASIC MoneySmart Adviser Register, to ensure the adviser is appropriately registered. It’s worth noting that many advisers offer a free intro chat, so you can see if they’re the right fit for you.
But if you’re a new investor with only $1,000 to start with, you might not be in the financial position to seek advice right now.
It’s a challenging spot to be in as a new investor, when you don’t have enough money to pay for personal financial advice (initial advice costs can vary between $3,000 and $5,000), and you don’t know quite enough to take the first step on your own.
In this situation, I recommend taking it slow, doing your research, asking lots of questions and taking in information from a variety of sources.
New From HTM
In this month’s instalment of Faces of Finance, I interviewed Veronica Morgan from Good Deeds Property Buyers. You can learn more about her career in the property industry here!
🎧 Tune into all episodes of The How To Money Podcast on your favourite podcast player, or click to be magically transported to Apple Podcasts and Spotify.
Interesting Finds from Around the Web
💸 Spending money to buy happiness: can it be done? In this great video, Ali Abdaal explores the research behind using our money to buy happiness, and spending it on things that facilitate more interesting experiences and memories in our lives.
💭 How much of your behaviour is governed by your default settings? This episode of the Deep Dive Podcast, encourages you to explore your life with intention and the impact you want to have with your time here on earth.
That’s it for now, but you can keep up to date with me on Instagram, or by subscribing to The Australian Finance Podcast (Owen and I publish new episodes every Monday and Friday)!
Cheers to our financial futures ✨
Kate - HTM Editor & Host