News.Life

DWP and HMRC Announce April Benefit Changes: One Payment Axed

Unknown economics, fiscal policy, money, personal finance saving spending, taxes

<img data-document-id="cms/api/amp/image/AA1CkeSM" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CkeSM.jpg"/>

 In April, financial matters take centre stage as the start of the new tax year arrives, bringing about higher bills alongside improved benefits provided by the Department for Work and Pensions.


 A new
 Ocean Finance
 A survey of 1,500 UK adults carried out in March 2025 revealed that an alarming 73% are worried about affording their basic expenses this spring. Additionally, one in four respondents (26%) reported feeling so overwhelmed by prospective cost increases that they avoid checking their account statements altogether.


 Fiona Peake, the consumer money specialist from
 Ocean Finance
 , has pointed out key dates in April concerning DWP, HMRC, and state pensions that might impact your financial situation.

<h3>
 Key April dates for DWP, HMRC, and state pensions
</h3>

 On April 1st, the National Living Wage is set to experience a substantial hike, as stated by Fiona: “A considerable number of employees will benefit from an increased salary starting this April due to the National Living Wage going up by 77 pence to reach £12.21 per hour for individuals who are 21 years old and above. Workers within the age group of 18 to 20 can expect a jump of £1.40, taking their rate to £10 per hour. Apprentices too will receive a raise of £1.15, setting their hourly wage at £7.55. Although such increments are positive news, they might be overshadowed by the continuous escalation in living expenses—particularly energy charges and municipal taxes.”

<img data-document-id="cms/api/amp/image/AA1CkqCl" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CkqCl.jpg"/>

 On April 1, families throughout the nation will also be preparing for an increase in Council Tax.


 Fiona cautioned, “On average, council tax bills are set to increase by nearly 5%. However, the precise hike depends on both your local authority and the specific property banding. Should you have concerns regarding your bill, use the government’s online service to verify your property banding and ensure accuracy in billing. Additionally, explore potential discounts or exemptions.”


 By April 1, water charges are scheduled to increase sharply.


 Fiona warned, “The water charges are set to increase by £27.40, making the typical yearly expense amount to £473. It’s advisable to verify whether installing a water meter might be more economical for you. Numerous water suppliers provide complimentary water-efficient gadgets; thus, take some time to explore what options they have that can assist in cutting down your water consumption and possibly decreasing your expenses.”


 The price for viewing TV will also increase starting April 1st.


 Fiona suggested: "Starting April 1st, the cost of your TV license will go up by £5 to £174.50. However, specific categories might be entitled to reductions. Individuals above 75 years old and claiming pension credit can obtain a complimentary TV license, whereas people with visual impairments can receive a 50% discount. Taking advantage of these TV licensing discounts could significantly lower expenses if you meet the criteria—don’t forget to apply for all applicable rebates."


 Drivers will also face tighter finances when vehicle taxes increase on April 1st.


 Fiona pointed out: "The road tax will go up by around £30 annually on average, even for those who own electric vehicles, as they too will see an increase in fees. It’s advisable to find out exactly how much extra you’ll have to fork out based on what kind of car you drive."


 The tax year concludes on April 5, as pointed out by Fiona regarding a crucial date for British financial matters. She explained, "April 5 signifies the last opportunity to utilize your ISA allowance. Regardless of whether you possess an individual or junior ISA, this presents a prime chance to enhance your savings without taxation ahead of the deadline."


 She subsequently warned of the approaching deadline forState Pension enhancements: “Should you lack some National Insurance contribution records, you may purchase additional years to increase yourstate pension. However, act quickly—the window closesafterApril 5th; post that date,you willonlybeabletotopupcontributionsforthe precedingsixyears.”


 Concerning alterations to tax credits, Fiona cautioned: “On April 5th, the current tax credit scheme will conclude, requiring those affected to transition to Universal Credit instead. Individuals failing to make this changeover will cease to receive their financial assistance. Ensure you reply to the notification sent out by the Department for Work and Pensions regarding your move. Should you have questions about how to proceed or require additional help, reach out to them directly.”


 Regarding companies, she highlighted an impending rise in expenses: "Starting April 6th, business owners will encounter higher National Insurance contributions, increasing from 13.8% to 15%. Additionally, the threshold for these payments will decrease, potentially impacting both enterprises and their staff members."


 Finally, Fiona had some uplifting information for senior residents: "There’s good news for retirees as state pensions will go up by 4.1% starting from 6 April, providing an additional £472 per year. This boost is part of the government's triple lock commitment, ensuring that pensions increase according to inflation rates, average earnings, or at least 2.5%, depending on which figure is greatest."


 On April 6th, the Help to Save Scheme will be broadened, just as Fiona detailed: “Starting from April 6th, the Help to Save programme will extend eligibility to encompass all working individuals receiving Universal Credit. The initiative enables participants to save money alongside earning an additional 50 pence for each pound saved, potentially offering a valuable opportunity for people with lower earnings to establish some financial security.”


 On April 7, the benefits system will receive an uplift, according to Fiona’s statement: “Benefit rates along with Universal Credit payments will go up by 1.7% starting from April 7. This enhancement will be seamlessly integrated into your payments, offering additional assistance to those facing the greatest challenges.”

DWP and HMRC Announce April Benefit Changes: One Payment Axed

Unknown economics, fiscal policy, money, personal finance saving spending, taxes

In April, financial matters take centre stage as the start of the new tax year arrives, bringing about higher bills alongside improved benefits provided by the Department for Work and Pensions. A n…

Should You Top Up Your Super Now or Later? Timing Matters for Your Retirement Nest Egg

Unknown investing, money, personal finance retirement, personal finance saving spending, saving money

<img data-document-id="cms/api/amp/image/AA1ylJah" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1ylJah.jpg"/>
<div>
 
 Increasing your superannuation contributions can enhance your nest egg for retirement, yet with numerous pressing expenses vying for attention, it may not always be clear when it’s best to make additional payments into your fund.
 
 
 Based on ASIC's Moneysmart, someone who starts at age 30 by adding an additional $20 each week might end up with $50,000 more when they retire. Additionally, there are potential tax benefits associated with making extra superannuation contributions.
 
 
 However, securing funds to save can be challenging, particularly within today’s financial climate, and boosting contributions to your superannuation might not always be the best strategy.
 
 
 We consulted with two specialists to delve into when this approach is advantageous and assist you in grasping the possible advantages and disadvantages.
 
 <h4>
 First, cover the basics
 </h4>
 
 Kate McCallum serves as a financial advisor and is also one of the co-authors of The Joy of Money.
 
 
 According to Ms McCallum, if you find yourself in your 20s, 30s, or 40s, you may encounter significant financial pressures. These could involve paying rent, setting aside money for a home purchase, managing mortgage obligations, covering educational fees, and handling everyday living costs.
 
 
 If you're carrying consumer debts like credit card balances or personal loans, it makes more sense to focus on reducing those before increasing your superannuation contributions.
 
 
 This is due to the fact that the interest rates on these items are quite high, and clearing them off offers a guaranteed return.
 
 
 It's equally advisable to possess an
 emergency fund
 — preferably enough to cover at least 90 days of living costs.
 
 
 In addition to providing mental tranquility, this can also prevent the necessity of taking on debt for unforeseen costs.
 
 <h4>
 Why young individuals ought to ponder thoroughly before contributing additional funds to their superannuation.
 </h4>
 
 Ms McCallum emphasizes the importance of assessing your entire financial position and objectives prior to thinking about increasing your superannuation contributions.
 
 
 Significantly, the majority of individuals cannot withdraw their superannuation until they attain their preservation age, ranging from 55 to 60 years old, based on their birth date.
 
 
 Therefore, if you're 30 years old and decide to make a voluntary contribution to your superannuation, you might be tying up those funds for over three decades.
 
 
 Ms McCallum indicates that voluntary superannuation contributions tend to be more feasible for individuals above 45 years old, as they won't have to await fund access for too long.
 
 
 Rather than doing so, she recommends that young individuals concentrate on other important areas and depend on their employer's obligatory superannuation payments.
 
 
 "If you’re in your 20s, 30s, or possibly even into your early 40s, it’s sensible to let the super guarantee function as intended and allocate any extra cash flow to other areas, providing greater financial leeway," she explains.
 
 
 If you're looking to invest but also keep your funds accessible, consider doing so outside of your superannuation. You could choose to put the money into a managed fund instead.
 exchange-traded fund (ETF)
 instead.
 
 
 Alternatively, if you own a home with a mortgage, you might consider placing the funds into an offset or redraw account.
 
 <h4>
 How making voluntary superannuation contributions might assist you in reducing your tax burden
 </h4>
 
 You have the option to contribute "concessionally" to your super account by arranging a salary sacrifice with your employer or by directly transferring funds into your super account and then claiming a tax deduction.
 
 
 This approach may seem appealing since these contributions face a tax rate of just 15%, significantly lower compared to the 30% paid by individuals earning a typical salary in Australia.
 
 
 Therefore, as your earnings increase, contributing extra to your super becomes more appealing due to the increased tax advantage.
 
 <h4>
 Is it advisable to contribute to your superannuation when you're stepping back from work for a period?
 </h4>
 
 If you're stepping away from work due to having a child or providing care for another person, you may have concerns about your superannuation balance and whether you should make additional contributions.
 
 
 Even though you can continue adding to your super during these times, the lower income might lessen the possible tax advantages of making concessional contributions.
 
 
 If your income is less than $40,000 and you have a partner, this may apply to them as well.
 contribute to your superannuation on your behalf
 and apply for a tax refund of up to $540.
 
 
 Another approach some partners adopt is referred to as
 contribution splitting
 This includes transferring a portion of one partner’s superannuation contributions to their spouse.
 
 <h4>
 How contributing more to your superannuation can assist you in saving up for your first house.
 </h4>
 
 Although many individuals aren't able to access their superannuation until reaching their 60s, several exemptions do apply.
 
 
 The FHSS scheme enables first-time homebuyers to withdraw up to $50,000 in voluntary contributions along with their associated earnings, which can be used for a down payment.
 
 
 The scheme has
 complex rules
 Including aspects related to withdrawals, which is why it hasn’t gained much popularity. However, independent financial advisor Jacie Taylor suggests that this approach can be beneficial for individuals aiming to save for a deposit.
 
 
 "What a fantastic initiative this is, but unfortunately, it hasn’t gained enough awareness," Ms Taylor states.
 
 
 Remember that failing to buy a property after withdrawing funds from the scheme may result in tax penalties.
 
 <h4>
 You might have the option to increase your superannuation without making additional payments.
 </h4>
 
 If you can't make additional contributions, there are still various methods to ensure your superannuation is performing well for you.
 
 
 Ms. Taylor emphasizes the significance of examining how your superannuation is invested and the fees you're charged.
 
 
 Ms Taylor suggests that if you're younger, you might consider opting for higher growth investment options with your super, as these usually offer greater returns over an extended period.
 
 
 "This really matters for younger individuals," she states.
 
 
 If you're uncertain whether a voluntary super contribution strategy suits your needs, it may be beneficial to consult with a financial advisor or planner.
 
 
 The content of this article provides only general details. It would be wise to seek individualized professional guidance tailored to your specific situation.
 
</div>

Should You Top Up Your Super Now or Later? Timing Matters for Your Retirement Nest Egg

Unknown investing, money, personal finance retirement, personal finance saving spending, saving money

Increasing your superannuation contributions can enhance your nest egg for retirement, yet with numerous pressing expenses vying for attention, it may not always be clear when it’s best to make a…

5 Clever Moves to Slash Your Tax Bill Before Saturday

Unknown money, personal finance, personal finance saving spending, personal finance taxes, saving money

<img data-document-id="cms/api/amp/image/AA1C9yYD" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1C9yYD.jpg"/>

 With the tax year coming to an end soon, this presents a crucial period to potentially reduce your payment.


 In numerous instances, if it remains unused,
 you'll forfeit this year's allowances,
 So it’s worthwhile going through the tax-saving checklist to see if there are any smart methods you can use to reduce your taxes beforehand.
 The deadline is by midnight on 5 April.


 Below, experts reveal how
 you might be able to reduce your tax liability
 –and the most effective approach to planning for the coming year.

<ul class="wp-block-list">
 <li>
 
 Maximise your free money
 
 </li>
</ul>

 There are numerous methods to obtain free money from the government, including tax incentives, benefit programs, or special account offers.


 Laura Suter, who leads personal finance at AJ Bell, stated: "Pension schemes present a significant opportunity; for instance, basic-rate taxpayers get 20 percent tax relief, whereas those paying higher or additional rates can claim back an extra 20 or 25 percent via self-assessment."


 This implies that for someone paying the higher rate of tax, each £1 contributed to their pension effectively costs them 60p.

<ul class="wp-block-list">
 <li>
 
 Use your ISA allowances
 
 </li>
</ul>

 Furthermore, individuals can gain advantages from Individual Savings Accounts (ISAs). At present, the Lifetime ISA may be utilized either to purchase your first residence or to save for retirement. You have the option to deposit up to £4,000 annually, with the government adding a 25% bonus to your savings, capped at an annual limit of £1,000.


 Nevertheless, withdrawing funds before reaching the age of 60 incurs a 25 per cent penalty, unless it's for purchasing your first home. Thus, careful planning is crucial when considering this option.


 On top of that, a standard ISA will give you a tax break on your investment growth and interest earned, as well as any withdrawals being tax-free. Everyone can pay in up to £20,000 a year into the accounts, but use it or lose it, as once the new tax year hits that allowance is reset.


 Read Next:
 How your pension pot could be used to help you build a house deposit

<ul class="wp-block-list">
 <li>
 
 Beat the capital gains tax cut
 
 </li>
</ul>

 Capital gains tax (CGT) allowances have been cut in recent years, dropping from £12,300 in April 2023 to £3,000 now.


 This makes it more important to consider how you realise gains to avoid triggering an unnecessary tax bill.


 Ms Suter said: “Selling investments up to the current CGT allowance before the tax year end could help reduce future tax bills for those holding assets outside an ISA or pension.


 “Investors can also use a strategy known as ‘Bed and ISA’ to sell investments, which means transferring the proceeds into an ISA and repurchasing them, meaning that future gains are protected from tax.”

<ul class="wp-block-list">
 <li>
 
 Avoiding high tax on your savings
 
 </li>
</ul>

 There are times in life when you have more savings than others – like when you’re retired, if you’ve inherited money or when you are saving up for something big – like a house move. If you’re not used to paying tax on your savings, you might overlook it.


 Basic rate taxpayers can make £1,000 a year in interest before paying tax, and higher rate taxpayers can make £500 a year – and after that, there could be a tax bill to worry about.


 Sarah Coles, head of personal finance at Hargreaves Lansdown, said: “If you’re a basic rate taxpayer with £20,600 or more in a savings account paying 4.75 per cent, you’ll bust your allowance and face a tax bill.


 “If you move £20,000 into a cash ISA this tax year, you can move the rest after midnight on 5 April and protect it all from the taxman.”

<ul class="wp-block-list">
 <li>
 
 Make gifts
 
 </li>
</ul>

 If you’re concerned about inheritance tax (IHT), you have your IHT gift allowances to use any time during the year. However, other rules are worth exploiting as early as possible.


 Ms Coles said: “If you want to give larger gifts, you expect to drop out of your estate after seven years, so starting now will mean you can get the clock ticking now.”


 This is significant because no tax is owed on presents you bestow if you survive for seven years following the gifting — with the exception being when the gift is within a trust arrangement.


 Ms Coles remarked: "Should you decide to present gifts to minors under 18 years old, remember that these children will possess their complete junior ISA yearly allowance from the beginning of the next fiscal year—thus, although you may bestow the gift now, it remains inaccessible until they reach an age where they can manage adult financial decisions."


 Parents and guardians have the option to save or invest up to £9,000 each year in a Junior ISA for a child who is younger than 18 years old.


 Should you wish to donate periodic gifts using only additional earnings, starting early will allow you to contribute a larger sum overall.

5 Clever Moves to Slash Your Tax Bill Before Saturday

Unknown money, personal finance, personal finance saving spending, personal finance taxes, saving money

With the tax year coming to an end soon, this presents a crucial period to potentially reduce your payment. In numerous instances, if it remains unused, you'll forfeit this year's allowances, So …

What's the Ideal Superannuation Balance for Your Age in Australia?

Unknown investing, money, personal finance, personal finance retirement, personal finance saving spending

<img data-document-id="cms/api/amp/image/AA19bW4N" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA19bW4N.jpg"/>

 To address this query about our system
 superannuation
 Balance, I believe it's most effective to approach it from the opposite direction.


 Firstly, let's look at how much we need to set aside for a comfortable lifestyle.
 retirement
 . After that, we can determine if our retirement funds are adequately on target.


 As per the latest updates to
 AFSA Retirement Standard
 Single Australians require $595,000 in their superannuation fund by the time they reach 67 years old for a comfortable retirement. For couples, this amount is $690,000.


 These figures presuppose that we own our house, get a portion of the pension, and that our superannuation savings are depleted and reinvested at an annual growth rate of 6%.


 According to AFSA, a comfortable retirement involves covering basic needs along with expenses such as private health insurance, fitness activities, free time pursuits, dining out occasionally, taking at least one domestic vacation annually, and enjoying an international trip every seven years.


 AFSA estimates that all of this amounts to $51,814 annually for individuals and $73,031 for couples.

<h2 class="wp-block-heading" id="h-are-your-superannuation-savings-on-track-for-your-age">
 Is your superannuation saving aligned with your age group expectations?
</h2>

 The age pension along with superannuation are the
 The two most prevalent types of income sources for those retired.
 As stated by the Australian Bureau of Statistics. This highlights their significance for you in your later years.


 Let's address superannuation first.


 The instrument we will employ to determine if your superannuation balance is appropriate for your age is the
 Super Balance Detective Calculator
 On the Super Guru website.


 If you're among those born from 1958 to 2003, you can utilize this tool to determine whether your current superannuation balance aligns with the AFSA benchmark for a comfy retirement.


 Here are some examples.

<ul class="wp-block-list">
 <li>
 For individuals who turned 30 years old in 1994, their superannuation balance ought to amount to $66,500.
 </li>
 <li>
 For individuals who turned 40 years old this year (born in 1984), their superannuation balance ought to amount to $168,000.
 </li>
 <li>
 For individuals who turned 50 years old this year (born in 1974), their superannuation savings ought to amount to $296,000.
 </li>
 <li>
 For individuals who turned 60 this year (born in 1963), their superannuation balance ought to amount to $469,000.
 </li>
</ul>

 Should your superannuation balance match the figures provided by the Super Guru calculator, you will be well-positioned to reach the necessary $595,000 milestone by the time you turn 67 as a single individual aiming for a comfortable retirement supplemented by a partial government pension.


 Let's now discuss the requirements for qualifying for a partial or full-aged pension.

<h2 class="wp-block-heading" id="h-do-you-qualify-for-the-age-pension">
 Are you eligible for the age pension?
</h2>

 Australians qualify for the age pension once they reach their '
 retirement age
 For individuals born on or after 1 January 1957, the retirement age stands at 67 years old.


 You're only eligible for the pension if you meet the criteria provided.
 assets
 and
 income
 tests outlined by the government.


 For the assets test, to be eligible for the complete age pension, single homeowners cannot have over $314,000 worth of assets excluding their home. Conversely, single individuals without a home must not possess more than $566,000 in total assets.


 The threshold for receiving a part-pension for singles who own homes stands at assets worth $695,500, whereas for those who do not own homes, the limit is set at $947,500.


 For the complete age pension eligibility, homeowner couples cannot have more than $470,000 worth of assets excluding their residence. Non-homeowning couples must keep their additional assets below $722,000.


 For a partial pension, the limit for homeowner couples is assets totaling $1,045,500, whereas for those who do not own a home, it is set at $1,297,500.


 Regarding earnings, single pensioners may receive up to $212 every two weeks, while couples can collectively earn $372 biweekly without affecting their full entitlement to the pension.


 The threshold for receiving a part pension is an income of $2,500.80 every two weeks for singles, and $3,822.40 every two weeks for couples.


 The post
 What constitutes an adequate superannuation balance for someone at your age?
 appeared first on
 The Motley Fool Australia
 .

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 </h2>
 
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 disclosure policy
 This article includes solely general investment guidance (covered under AFSL 400691). Authorized by Scott Phillips.

What's the Ideal Superannuation Balance for Your Age in Australia?

Unknown investing, money, personal finance, personal finance retirement, personal finance saving spending

To address this query about our system superannuation Balance, I believe it's most effective to approach it from the opposite direction. Firstly, let's look at how much we need to set aside for a…

お金が貯まる人はブレない！自分軸を持つ人の特徴とは

Unknown money, personal finance, personal finance education, personal finance saving spending, saving money

<img data-document-id="cms/api/amp/image/AA1BrnhZ" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1BrnhZ.jpg"/>
 
 「お金を貯めたい！」と思っているのに、なぜか貯まらない……そんな経験はありませんか？ 貯金ができる人とできない人の違いは、「自分軸」があるかどうかにあります。


 自分軸がある人は「自分にとって最適なお金の使い方」を知っています。流行や他人の価値観に左右されず、自分の基準でお金を使える人は、自然と貯金もできるのです。


 今回は、お金が貯まる自分軸のある人の特徴2つをご紹介します。


 <h2>
 自分軸のある人の特徴1：時間の使い方が上手
 </h2>
 お金が貯まる人は、時間を大切にします。なぜなら、時間もお金と同じくらい貴重な資源だからです。自分軸がある人はデジタル機器や他人に振り回されません。


 例えば、スマホをなんとなく見ていたら、気づけば1時間たっていたり、ネットショッピングでつい余計な買い物をしてしまったりしたことはありませんか？ また、他人に誘われたからと気乗りしないレジャーに参加することに時間を使ってしまうことも。


 こうした何気ない時間の使い方が積み重なると、知らず知らずのうちにムダな出費が増えてしまいます。自分軸を意識して時間を使うことは、お金を大切にすることにもつながるのです。


 <h3>
 ▼ムダな時間を作らないためには？
 </h3>
 ムダな時間を作らないためには以下の点を心掛けましょう。


 ・買い物は目的を決めて行う


 「とりあえず見て回る」ウィンドウショッピングを減らしてみましょう。人にすすめられたから買う、という余計な買い物を防げます。


 ・買い物の情報収集はほどほどに


 「安く買うために調べ過ぎて時間がかかる」のも考えもの。デジタル機器に振り回されてしまうかもしれません。値段や品質をチェックしつつ、時間をかけ過ぎないバランスが大切です。


 ・リラックスする時間をつくる


 ストレスがたまると衝動買いが増えがちです。気乗りのしないお誘いを断れなくなってしまうことも。ヨガや瞑想（めいそう）、入浴、自然の中の散歩などで気持ちを落ち着けましょう。あえて時間を忘れてリラックスすると気持ちが穏やかになり、「なんとなく買う」クセが減ります。心が整うと、本当に必要なものだけを選べるようになります。


 <h2>
 自分軸のある人の特徴2：「見栄」でお金を使わない
 </h2>
 お金の使い方は、自分軸を持っているかどうかで大きく変わります。ブランド品や高級レストランに価値を感じる人もいれば、旅行や趣味にお金をかける人もいます。大切なのは、「周りに流されるのではなく、自分にとって本当に価値があるか？」を基準に判断することです。


 一方で、自分軸がないと、「みんなが持っているから買おう」「高いもの＝いいもの」といった思い込みでムダな買い物をしてしまいがち。また、「安いから」と必要のないものまで買い、結果的にムダ遣いが増えてしまうこともあります。自分にとって大切なものを見極め、本当に必要なものだけにお金を使うことが、貯まる習慣につながります。


 <h3>
 ▼「見栄」ではなく、自分にとって価値のあるものにお金を使うには？
 </h3>
 お金を貯めるためには、見栄ではなく、自分にとって本当に価値のあるものにお金を使うことが大切です。


 ・「これは買わない」と決める


 なぜそれを買うのか？本当に必要なのか？と自分に問い掛けてみましょう。「流行っているから」「安いから」といった理由で買ったものの、結局使わずに終わることは少なくありません。


 ・「これがあれば幸せ！」を意識し、大事にする


 「旅行が大好きだから、そのために貯金する」と決めれば、不要な買い物を自然と減らせます。自分が本当に大切にしたいものを知ることで、お金の使い方にも自分軸が生まれます。


 ・気になることに「トライ」する予算を持つ


 貯金ばかりを優先するとストレスが溜まり、逆にムダ遣いにつながることもあります。特に、「やりたいことがあるのに、挑戦できない……」という状態は避けたいもの。そこで、気になることに少しずつトライするための予算を持つのもおすすめです。


 例えば、「カフェ巡りをしてお気に入りの場所を見つける」「気になる本を1冊買って読んでみる」「新しいレシピに挑戦してみる」など。日常の中で楽しみながらお金を使う習慣をつけることで、満足度の高い支出がどんなものかわかるようになるでしょう。


 お金を使う基準を「人と比べる」のではなく、「自分にとっての価値」で決めることが、ムダ遣いを減らし、貯金につながるポイントです。本当に必要なものにお金を使い、ムダな支出を減らすことに意識を向けていきましょう。


 文：舟本 美子（ファイナンシャルプランナー）


 会計事務所、保険代理店や外資系の保険会社で営業職として勤務後、FPとして独立。人と比較しない自分に合ったお金との付き合い方を発信。3匹の保護猫と暮らす。All About おひとりさまのお金・ペットのお金ガイド。

お金が貯まる人はブレない！自分軸を持つ人の特徴とは

Unknown money, personal finance, personal finance education, personal finance saving spending, saving money

「お金を貯めたい！」と思っているのに、なぜか貯まらない……そんな経験はありませんか？貯金ができる人とできない人の違いは、「自分軸」があるかどうかにあります。自分軸がある人は「自分にとって最適なお金の使い方」を知っています。流行や他人の価値観に左右されず、自分の基準でお金を使える人は、自然と貯金もできるのです。今回は、お金が貯まる自分軸のある人の特徴2つをご紹介します。 …

Self-Made Millionaire Reveals: Here’s Where Most Americans Fritter Away Their Money

Unknown expenses, personal finance, personal finance saving spending, personal finance shopping, saving money

<img data-document-id="cms/api/amp/image/BB1igT3l" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/BB1igT3l.jpg"/>

 If there's one thing I've learned on my journey from being $300,000 in debt to becoming
 a self-made millionaire
 , it's this: I wasn't broke because I didn't make enough money at the time — I
 
 felt
 
 broke because I overspent on things that weren't aligned with my health and
 wealth goals
 .


 Yes, I spend money on things I like. I love a good K-pop concert and a well-deserved vacation. But I also know that swapping unnecessary spending in some areas frees up money for things that truly matter, like
 investing
 ,
 financial security
 and experiences that
 bring real joy
 .


 Here are six points I believe Americans might consider
 spend far too much money on
 —that I also used to overindulge in! Instead, this is how I handle things nowadays.


 
 
 DON'T MISS:
 
 
 
 
 Ways to Begin a Side Business for Additional Income
 
 

<h4>
 1. Bulk grocery shopping (that ends up in the trash)
</h4>

 Buying in bulk can save you money, but only if you actually eat everything you buy. Let's be real. How many times have you bought the mega pack of spinach only to throw half of it away a week later?


 You're not getting a deal if you toss half of what you paid for in the garbage.


 I now buy produce weekly because I found myself not being able to finish the bag of avocados or kiwis, even though they were cheaper per item at the bulk price.


 When purchasing additional supplies for my pantry, I only get things that I will consume within the coming month, and I pay close attention to use-by dates.

<h4>
 2. Seasonal decorative home accessories
</h4>

 I get the urge to head to TJ Maxx and purchase a new wreath and some festive throw pillows for each holiday. However, rather than splurging on decor items that might quickly fall out of style, consider putting your money into classic, top-notch home basics. Then, refresh your space with minor, budget-friendly touches such as candles or fresh blooms.


 I switch out photos and keepsakes from concerts in the picture frames periodically.
 various sections of my house
 To keep it feeling new, without needing to change with the seasons, I've received numerous praises for my revolving collection of Broadway playbills.

<h4>
 3. Children's toys
</h4>

 Many children get more entertainment from the box than from the actual toy. It’s not uncommon for parents to shell out hundreds, even thousands of dollars, on toys that end up being discarded by their kids after just a few weeks.


 Simple is better. Switch out toys periodically rather than acquiring new ones, and value activities more than possessions.


 If the children require toys, consider having family members contribute. Since I am an aunt with no children of my own, I'm glad to occasionally purchase toys for my nieces and nephews, allowing their parents to use that money for other necessities instead.

<h4>
 4. Footwear that adversely affects your foot health
</h4>

 I'm guilty of having bought multiple pairs of shoes that look amazing but felt like medieval torture devices. I stopped buying shoes that don't fit, don't support my feet or that I'll only wear once.


 A few high-quality pairs of comfortable, well-made shoes will take you further, than a closet full of painful ones.


 Shoes are a great item to apply the $1 rule: If a high-quality pair of shoes costs $100 and you can wear them 100 times, then I think it's a worthy splurge — more so than a pair of discount shoes you'll only wear a few times

<h4>
 5. High-end skincare products
</h4>

 The beauty industry convinces people they need a 12-step routine with $80 serums, when most of it is marketing hype.


 I learned this the hard way when I got sucked into the K-beauty trend of buying all sorts of serums and masks, only to go back to my slightly less glamorous routine of pharmacy brand face wash and moisturizer.


 Stick to simple, dermatologist-approved products that actually work. Your skin (and your wallet) will thank you.

<h4>
 6. Overpriced athleisure
</h4>

 My $15 warehouse leggings and free t-shirts are just as good as the $100 Lululemon ones. People love to justify expensive activewear by saying it motivates them to work out, but wearing a fancy outfit doesn't do push-ups for you.


 Ironically, I've found that I have better workouts when I wear less expensive clothing because they tend to breathe better, since they're often looser and made of natural fiber than shiny material. When I wear the stuff I don't care that much about, I am more focused on the exercise itself, than how I look.


 Buy workout gear for function, not fashion. Focus on quality and comfort over brand names.

<h4>
 Save more money by reprioritizing
</h4>

 Ultimately, I'm not saying it makes sense to give up everything fun or live like a monk. But if you want to build wealth, start questioning if these short-term dopamine hits are really saving you money in the long run.


 Every dollar you don't waste is a dollar that you don't have to work for, whether that's growing your investments, paying off debt or funding a life that brings you a sense of peace.


 
 
 Bernadette Joy
 
 
 
 is the author of "
 
 
 CRUSH Your Money Goals
 
 
 " and a personal finance expert and investor dedicated to helping you beat burnout and reach financial independence.
 
 
 You can find her on
 
 
 Instagram
 
 
 ,
 
 
 YouTube
 
 
 and
 
 
 LinkedIn
 
 
 .
 


 
 
 Want to earn some extra money on the side?
 
 Take 's new online course
 
 
 How to Start a Side Hustle
 
 
 To acquire valuable insights and tactics for initiating your journey and achieving prosperity from leading side hustle professionals, sign up now. Apply the promo code EARLYBIRD to receive a 30% discount off the $97 fee (+ taxes and fees) until April 1, 2025.
 

<img data-document-id="cms/api/amp/video/BB1p9JfN" data-reference="video"/>

Self-Made Millionaire Reveals: Here’s Where Most Americans Fritter Away Their Money

Unknown expenses, personal finance, personal finance saving spending, personal finance shopping, saving money

If there's one thing I've learned on my journey from being $300,000 in debt to becoming a self-made millionaire , it's this: I wasn't broke because I didn't make enough money at the time — I f…

Should You Top Up Your Super Now or Later? Timing Matters for Your Retirement Nest Egg

Unknown investing, money, personal finance retirement, personal finance saving spending, saving money

<img data-document-id="cms/api/amp/image/AA1ylJah" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1ylJah.jpg"/>
<div>
 
 Increasing your superannuation contributions can enhance your nest egg for retirement, yet with numerous pressing financial obligations, how can you determine the optimal moment to make additional payments?
 
 
 Based on ASIC's Moneysmart, someone who starts at age 30 and contributes an additional $20 each week might find themselves $50,000 richer upon retiring. Additionally, they may benefit from tax reductions due to extra superannuation payments.
 
 
 However, coming up with funds to save can be challenging, particularly within today’s financial climate, and boosting contributions to your superannuation may not always be the best strategy.
 
 
 We consulted with two specialists to delve into when this approach proves beneficial and assist you in grasping both the advantages and disadvantages involved.
 
 <h4>
 First, cover the basics
 </h4>
 
 Kate McCallum is a financial advisor and co-writer of The Joy of Money.
 
 
 According to Ms McCallum, if you find yourself in your 20s, 30s, or 40s, you may encounter significant financial pressures. These could involve paying rent, accumulating savings for homeownership, managing mortgage debts, covering educational fees, and handling everyday living costs.
 
 
 If you carry consumer debts like credit card balances or personal loans, it’s more important to pay these off before increasing your Superannuation contributions.
 
 
 This is due to the fact that the interest rates on these items are elevated, and clearing them offers a surefire way to earn returns.
 
 
 It's equally advisable to possess an
 emergency fund
 — preferably sufficient to cover a minimum of three months' worth of living costs.
 
 
 Aside from providing mental tranquility, this can also prevent the necessity of taking on debt for unforeseen costs.
 
 <h4>
 Why young individuals ought to consider the implications of making additional contributions to their superannuation.
 </h4>
 
 Ms McCallum emphasizes the importance of assessing your complete financial circumstances and objectives prior to thinking about increasing your superannuation contributions.
 
 
 Significantly, the majority of individuals cannot withdraw their superannuation until they attain their preservation age, typically ranging from 55 to 60 years old, based on their birth date.
 
 
 Therefore, if you're 30 years old and decide to make a voluntary contribution to your superannuation, you might be tying up those funds for over three decades.
 
 
 Ms McCallum indicates that voluntary superannuation contributions tend to be more feasible for individuals above 45 years old, since they won't have to wait as long before accessing these funds.
 
 
 Rather than doing so, she recommends that young individuals concentrate on different priorities and depend on the compulsory superannuation guarantee payments made by their employers.
 
 
 "If you're in your 20s, 30s, or possibly even early 40s, it’s wise to let the super guarantee function as intended and allocate extra funds to other areas for greater financial adaptability," she explains.
 
 
 If you want to invest, while still having access to your money, you can always do it outside of your superannuation. For example, you might decide to use the money to invest in a managed fund or
 exchange-traded fund (ETF)
 instead.
 
 
 Alternatively, if you possess a mortgage, you might opt to retain the funds within an offset or redraw account instead.
 
 <h4>
 How making voluntary superannuation contributions might assist you in reducing your tax liability
 </h4>
 
 You have the option to contribute "concessionally" to your super account by arranging a salary sacrifice with your employer or directly transferring funds into your super account and then claiming a tax deduction.
 
 
 This approach may seem appealing since these contributions are taxed at just 15%, significantly lower than the 30% paid by individuals earning an average salary in Australia.
 
 
 Therefore, as your earnings increase, contributing extra to your super becomes more appealing because the tax advantage will be greater.
 
 <h4>
 Is it advisable to contribute to your superannuation fund when you're temporarily stepping back from work?
 </h4>
 
 If you're stepping back from work due to having a child or providing care for another person, you may be concerned about your superannuation balance and considering whether you should make additional contributions.
 
 
 Even though you can continue adding to your superannuation during these times, you might be earning less money, potentially decreasing the possible tax advantages of making concessional contributions.
 
 
 If your income is below $40,000 and you have a partner, the following may apply:
 contribute to your superannuation on your behalf
 and apply for a tax refund of up to $540.
 
 
 Another approach some partners adopt is referred to as
 contribution splitting
 This includes transferring part of one partner’s superannuation contributions to their spouse.
 
 <h4>
 How contributing more to your superannuation can assist you in saving up for your first house.
 </h4>
 
 Although many individuals aren't able to access their superannuation until they reach their 60s, several exemptions do apply.
 
 
 Under the First Home Super Saver (FHSS) program, first-time homebuyers can withdraw up to $50,000 in voluntary contributions along with their associated earnings to use toward saving for a down payment.
 
 
 The scheme has
 complex rules
 Including aspects related to withdrawals, which is why it hasn’t gained much popularity. However, independent financial advisor Jacie Taylor suggests that this approach can be beneficial for individuals aiming to save for a home deposit.
 
 
 "What a fantastic initiative this is, but unfortunately, it hasn’t gained enough awareness among the public," Ms Taylor remarks.
 
 
 Remember that failing to buy a property after withdrawing funds from the scheme may result in tax penalties.
 
 <h4>
 You might have the option to increase your superannuation without making additional payments.
 </h4>
 
 If you can't make additional contributions, there are still various methods to ensure your superannuation is working efficiently for you.
 
 
 Ms Taylor emphasizes the significance of examining how your superannuation is invested and the fees you're charged.
 
 
 Ms Taylor suggests that if you're younger, you might consider opting for higher growth investment options with your super, since these generally offer better returns over an extended period.
 
 
 "This really matters for younger individuals," she states.
 
 
 If you're uncertain whether a voluntary super contribution strategy suits your needs, it may be beneficial to consult with a financial advisor or planner.
 
 
 
 The content of this article provides only general details. It would be wise to seek specialized professional guidance tailored to your specific situation.
 
 
</div>

Should You Top Up Your Super Now or Later? Timing Matters for Your Retirement Nest Egg

Unknown investing, money, personal finance retirement, personal finance saving spending, saving money

Increasing your superannuation contributions can enhance your nest egg for retirement, yet with numerous pressing financial obligations, how can you determine the optimal moment to make additiona…

The Top 5 Safest Spots for retirees to Grow Their Savings

Unknown investing, money, money management, personal finance retirement, personal finance saving spending

<div class="image">
 <img data-document-id="cms/api/amp/image/BB1jMQQE" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/BB1jMQQE.jpg"/>
</div>

 Financial security is a worry regardless of whether you have recently left work or are among the anticipated 4 million Americans planning to retire in 2025. The question remains: Where should you store your funds so they remain secure, readily available, and generate interest? In this discussion, we will point out five top choices for doing just that.


 
 Claim a bonus of $250 and halt interest until 2026 – this credit card is the ideal mix!
 
 Learn more here.
 
 

<h2 id="1.-high-yield-savings-account">
 1. High-yield savings account
</h2>

 Even though interest rates might be decreasing, it’s not advisable to dismiss high-yield savings accounts. Ultimately, the key is maintaining purchasing power over inflation. At present, the inflation rate in the U.S. stands below 3%. Therefore, if a high-yield account yields more than 3%, you will effectively counteract inflation, ensuring your funds maintain their value.


 
 If assistance is needed in locating a savings account that offers returns high enough to outpace inflation,
 
 
 tap here for a selection of our top picks
 
 
 .
 

<h2 id="2.-certificate-of-deposit-(cd)">
 2. CD certificate
</h2>

 When you come across a sum of money that won’t be needed anytime soon, investing it in a certificate of deposit (CD) presents itself as yet another straightforward method to safeguard your funds. These accounts often provide attractive interest rates without compromising the safety of your savings. Moreover, should you fret over committing your cash to a long-term investment via a CD, rest assured that these products span various durations ranging from just three months up to ten years based upon different banking entities.


 
 For example,
 
 
 You can explore our top picks for 6-month certificates of deposit here.
 
 
 .
 

<h2 id="3.-money-market-account-(mma)">
 3. Money Market Account (MMA)
</h2>

 Rates on
 money market accounts
 remains impressively high. An MMA combines the characteristics of both checking and savings accounts, offering interest on your balance while providing quick access to your funds. Additionally, some MMAs include a debit card along with check-writing capabilities.


 Based on your financial institution, you might be able to utilize your Money Market Account for routine transactions such as paying bills via the internet and withdrawing cash at an ATM.

<h2 id="4.-treasury-notes">
 4. Treasury notes
</h2>

 Government-backed treasury notes serve as secure investments and are seen as a safe place for your funds. These notes come with maturity periods ranging from two to ten years and distribute interest twice annually.
 U.S. banks
 Don’t provide Treasury notes; rather, buy them directly from TreasuryDirect.gov.

<h2 id="5.-fixed-annuity">
 5. Fixed annuity
</h2>

 Fixed annuities are agreements made with insurance firms that provide a set interest rate over a certain duration. As an illustration, you could secure a consistent 5% return by keeping your funds within the annuity for three years.


 Fixed annuities can offer additional retirement funds, tax-deferred expansion, and the possibility of transferring wealth to your beneficiaries. Typically, insurance providers demand a starting investment of at least $5,000 for acquiring an annuity; however, this threshold might be reduced if the initial contribution is within an IRA account.


 Figuring out where to keep your money is a great strategy for reducing one of your worries and enabling you to fully savor your retirement years.


 <h2>
 Warning: The credit card with the maximum cashback offer we have encountered comes with a 0% introductory APR until 2026.
 </h2>
 
 
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 It's not merely good – it’s so outstanding that even our experts rely on it for themselves.
 
 
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 We strongly adhere to the Golden Rule, hence our editorial opinions are solely ours and haven’t been pre-reviewed, approved, or endorsed by the featured advertisers. Motley Fool Money doesn’t encompass every offer available in the market. The editorial material from Motley Fool Money stands apart from The Motley Fool’s main editorial content and is produced by an independent group of analysts. The Motley Fool has a
 disclosure policy
 .

The Top 5 Safest Spots for retirees to Grow Their Savings

Unknown investing, money, money management, personal finance retirement, personal finance saving spending

Financial security is a worry regardless of whether you have recently left work or are among the anticipated 4 million Americans planning to retire in 2025. The question remains: Where should you …