Phil, a 31-year-old IT sales and development manager says “life would be impossible” on anything less than his $300,000 annual income. Earning more than three times the national average, it’s hard to feel sorry for Phil … but his story is more common than you might think.
The road to owning your own home used to be a relatively straightforward one. However with recent changes to the way banks assess a borrower’s ability to service home loan repayments, your borrowing capacity may have dropped by up to 40%.
How can you go from earning $150 million in 15 years, to being millions of dollars in debt? Quite easily it seems if you’re American actor Nicolas Cage, whose extravagant lifestyle and eccentric investments left his finances looking more like a horror story than a heroic Hollywood adventure.
I was recently interviewed by Garth Russell on 1233 ABC Radio Newcastle about my thoughts on housing affordability in Australia.
I recently had an experience with the private health system that left me thousands of dollars out of pocket. It got me thinking … is private health insurance worth it?
A new report from the Grattan Institute has highlighted how rapidly rising house prices have created a housing affordability headache that is playing havoc with the financial futures of many Australians.