The debate over working from home versus mandatory on-site work has become increasingly prominent, especially as various governments and organisations across Australia navigate the shifting landscape of post-pandemic work arrangements. In New South Wales (NSW), the push to bring all employees back to the office has sparked considerable debate, while Victoria continues to offer flexible WFH solutions. This article explores the current recall situation in NSW, the pushback against full on-site mandates, and compares the approaches taken by different states. NSW’s Full Office Recall In recent months, NSW government agencies have been implementing policies to recall public employees to their physical workplaces, after a circular in 2019 allowed WFH moves. The boom finally fell on 5 August 2024, when NSW Premier Chris Minns declared in an all-government memo that all state employees must report to their offices going forward, effective 6 August. While the NSW public sector was mandated to be onsite, the government stated there may be some flexibility in terms of compressed hours or job share arrangements. Some employees on hybrid work must formally state a case for having their existing work arrangements remain in place, subject to approval from their Department’s chief people officer.    This shift is driven by several factors, including the desire to boost productivity, foster team collaboration, and enhance workplace culture. Proponents argue that in-person interactions are crucial for maintaining effective communication and strengthening organisational bonds, which can be challenging to achieve remotely. Issues with office space vacancies in the Sydney CBD – with an overall rate at 11.6 per cent –  also nudged the government to implement the recall. Katie Stevenson, executive director of the Property Council of Australia’s NSW branch, said in an ABC interview that the Council lobbied with the state to activate the recall. She cited a high 19.5 per cent office vacancy rate in Parramatta, where many NSW government agencies hold court – when that rate stood at 3.2 per cent pre-pandemic. The problem with filling up office space may have been a factor in Mitsubishi Estate Asia deciding to sell its 30 per cent share in the Salesforce Tower at 180 George St.   However, the push for mandatory on-site work has faced significant opposition. Many employees and organisations argue that the benefits of remote work—such as increased flexibility, reduced commuting time, and improved work-life balance—should not be disregarded. Critics of the full recall policy assert that the productivity gains seen during the remote work period should not be overlooked and that a return to the office might undermine the progress made in terms of employee satisfaction and work efficiency. Opposition to a Full Recall Criticism appeared almost as soon as Mr Minns finished the announcement, with some concerns emerging.  Employee Wellbeing The shift to remote work during the pandemic allowed many employees to achieve a better work-life balance. The return to mandatory on-site work could disrupt this balance, leading to increased stress and decreased job satisfaction. The Public Service Association of NSW reported there will be problems trying to bring together all employees when there’s not enough secured office space for them.  Productivity and Efficiency Some studies and anecdotal evidence suggest that remote work can lead to higher productivity levels. Employees have reported fewer distractions and the ability to tailor their work environment to their preferences, which can contribute to more efficient work. Cost Implications Commuting to and from the office incurs additional costs for employees, including travel expenses and time spent in transit. For many, these costs are a significant burden, especially when the benefits of working on-site are perceived as minimal. The travel is even worse when some NSW public servants are not even in NSW – an unnamed NSW government official revealed for example, to the Daily Mail Australia, that he had a remote employee based out in Noosa, QLD.  The NSW Treasury also shared their concerns on a whole-of-government site recall. In a joint report by Treasury’s NSW Productivity Commission and the NSW Innovation and Productivity Council, the office stated that when NSW’s lockdown protocol was relaxed in 2021, WFH solutions helped increase employee engagement while minimising staff turnover. The productivity boost from this was tallied at $6 billion a year.  Environmental Impact Reducing the number of commutes contributes to a decrease in carbon emissions, aligning with broader environmental goals. The move back to full on-site work might counteract these environmental benefits. Flexibility and Inclusivity Remote work has opened opportunities for employees who may face challenges with traditional office environments, such as those with disabilities or caring responsibilities. A rigid return to on-site work could limit these opportunities. Victoria Promotes WFH In contrast to the NSW government’s approach, Victoria has been more accommodating in offering flexible work-from-home solutions, and the state administration is looking at the situation up north with strong interest. A notice from Premier Jacinta Allan said NSW public servants who have done well with WFH are welcome to turn over a new leaf in Victoria, as there are no plans to “roll back” the current flexible work arrangements they have. Victoria’s approach reflects an understanding of the evolving nature of work and the benefits of flexibility. By providing employees with the option to work from home, the state acknowledges the positive aspects of remote work and seeks to balance them with the benefits of in-person collaboration. However, Minns is not taking Ms Allan’s invite lying down, stating that given how residents of Melbourne were tightened up during the COVID19 lockdowns, they needed a release such as going out to work in a comfortable office. The Melbourne city government and the Victorian Chamber of Commerce and Industry (VCCI) also favoured NSW’s site-recall order. In discussions with the Herald Sun, VCCI CEO Paul Guerra said returning to office was a chance for better productivity, as pedestrian sensors near Victorian government offices recorded almost scarce foot traffic for most of the first half of 2024. On-Site vs. WFH The debate between on-site and remote work is not unique to NSW and Victoria; it is

As the Australian rental market fluctuates, both investors and renters are seeking opportunities due to falling rental rates. With recent trends showing a drop in prices, now might be the perfect time to invest in rental properties or secure a better rental deal. This blog explores why investing in rental properties during price declines can be beneficial and provides an update on the latest trends in Australia’s rental market as of August 2024. Why Invest in Rental Properties When Prices Decline? When property prices drop, acquisition costs follow suit, creating an opportunity to buy at a more attractive price. This lower entry cost can lead to higher long-term returns as the market recovers, improving rental income over time. For first-time investors or those expanding their portfolios, lower property prices reduce the initial capital needed. This makes it easier to enter the market or diversify holdings with less upfront investment. Investing during a price downturn positions investors for future gains. As the market rebounds, property values and rental income may rise, leading to capital appreciation and improved rental yields. Falling rental rates and increased vacancies give renters more negotiating power. This can result in better rental terms or additional perks from landlords eager to attract tenants. Latest Developments (August 2024) The Australian rental property market is undergoing notable changes in the past few months, with the potential to influence both investors and renters. Falling Rental Rates The latest analysis from SQM Research found drops in rental rates across various Australian cities from July to August. On the national level, house rental rates went down 0.4 per cent while flat rentals remained unchanged. The fastest rate decline has been observed in major metropolitan areas, though. In Sydney for example, the average rental levels for houses went down 1.4 per cent month-on-month while apartment rentals crept down 0.6 per cent. When you take a closer look by the week, house rentals dropped 4.69 per cent and weekly flat rental dropped by 0.89 per cent.     Incremental drops in house and apartment rental rates were also recorded in the other state and territorial capitals, ranging from 0.3 per cent to 0.8 per cent. In terms of who was the biggest “winner” among them in month-on-month rental rate drops for houses and flats combined in July, Hobart was 1.6 per cent down.  SQM Research director Louis Christopher said the rental rate drops may seem tiny, but they are the biggest since the COVID-19 pandemic. This reduction is attributed to a combination of factors, including increased rental supply and shifting demand patterns. Increased Rental Vacancies The rental vacancy rate has risen in several cities, reflecting the growing availability of rental properties – at a national level, the rate in July stood at 1.3 per cent, which was consistently the highest since the 1.4 per cent tallied in February 2022.    For example, in Sydney, the vacancy rate is 1.3 per cent – but when you look at per suburb, you will notice more listings, such as a 5.1 per cent rate for places in the Sydney CBD and its satellite areas. Melbourne has seen a similar trend with a vacancy rate of 1.5 per cent. This higher vacancy rate is creating more opportunities for renters and investors to negotiate better rental deals. Market Adjustments The rental market is adjusting to changes in economic conditions, including interest rate fluctuations and shifts in population dynamics. As supply exceeds demand in some areas, landlords are adapting by offering incentives such as reduced rent or improved property conditions to attract tenants. Regional Shifts While major cities experience falling rental rates, some regional areas are seeing increased demand and stability in rental prices. This shift may provide investment opportunities in emerging regional markets where growth potential is strong, and rental yields remain attractive. Policy Changes Recent policy adjustments at both state and federal levels are influencing the rental market. Initiatives aimed at improving housing affordability and increasing rental supply are contributing to the current market dynamics. For instance, some states are introducing measures to support renters and increase transparency in rental agreements. Taking Advantage of Lowering Rentals For those looking to take advantage of the current rental market conditions, the following are a few strategies to consider. Conduct Thorough Research Before investing in a rental property, conduct comprehensive research on market trends, local rental rates, and vacancy rates. Understanding the dynamics of the specific area you’re interested in can help you make informed decisions and identify the best investment opportunities. Explore Emerging Markets Consider investing in regional areas or emerging markets where rental demand is strong, and potential for growth is significant. These areas may offer more stable rental yields and opportunities for capital appreciation. Negotiate Rental Terms If you’re a renter, use the current market conditions to negotiate better rental terms. With increased vacancies and falling rates, landlords may be more open to reducing rent or offering additional benefits to secure tenants. Evaluate Long-Term Potential While short-term rental rates are important, also assess the long-term potential of the property. Factors such as location, infrastructure development, and future growth prospects should influence your investment decisions. Stay Informed Keep up-to-date with market developments and policy changes that may impact rental prices and availability. Being informed will help you adapt to market shifts and make strategic decisions. Conclusion The Australian rental property market is experiencing a period of significant change, with falling rental rates and increased vacancies creating opportunities for both investors and renters. By understanding the current market dynamics and strategically positioning yourself, you can take advantage of these conditions to achieve favourable outcomes. Whether you’re looking to invest in rental properties or secure a better rental deal, now is a prime time to make informed decisions and seize the opportunities presented by the evolving market. DISCLAIMER: This article is for informational purposes only and does not constitute official financial advice for property rentals. The data presented in this article is the most accurate at time of writing. 2 Ezi is not affiliated with

Re-evaluating expenses like haircare can help manage budgets effectively without sacrificing style or self-care. In the pursuit of financial security and effective financial management, reevaluating expenses becomes a crucial practice. Among these expenses, non-essential needs like haircare often present opportunities to cut back without compromising on quality. In Australia, where financial stability is a priority for many, exploring ways to manage haircare budgets without sacrificing style or self-care is an essential part of financial planning. Market Overview of Hair Care in Australia Before we go down to the way of budgeting haircare, let’s first examine the scope of Australia’s hair care industry. Consumer Spending Habits In recent years, Australians have increasingly prioritised personal grooming and self-expression, leading to substantial spending within the hair care industry. A Mordor Intelligence report earlier this year estimated the haircare market size in Australia at $1.84 billion as of 2023, with projections to grow to as much as $2.15 billion by 2028.   Salon Services and Treatments Salons and hair care establishments play a pivotal role in the industry. Australians frequent these establishments not only for routine haircuts but also for specialised services like colouring, treatments, and styling. The industry has witnessed a growing demand for diverse hair treatments, including keratin treatments, hair extensions, and customised styling services, indicating a willingness among consumers to invest in their hair’s health and appearance. Shifts in Consumer Preferences Consumer preferences within the hair care industry have witnessed noticeable shifts. The rise of eco-consciousness and the demand for sustainable, cruelty-free, and natural hair care products have influenced purchasing decisions. Australian consumers increasingly favour products that align with their ethical and environmental values, thereby driving the market toward more sustainable offerings. Impact of the Pandemic The COVID-19 pandemic significantly impacted the hair care industry, as it did many others globally. Salon closures, restrictions on non-essential services, and shifts in consumer behaviour towards DIY solutions at home affected the industry’s revenue streams. The team at salon business management software company Kitomba reported that during the third wave of infections in Q3 2021, hair salons in Australia saw their average revenues drop 36 per cent from the previous quarter to just above $80k, the lowest since the estimated $95k recorded in February 2020.  However, as restrictions eased, there was a resurgence in demand for salon services, indicating the resilience of the market. Industry Statistics and Trends Market Size and Growth The haircare industry in Australia continues to exhibit resilience and growth. Market reports indicate a steady increase in the overall market size, with forecasts projecting continued expansion over the coming years. The market’s growth is fueled by factors such as innovation in product formulations, technological advancements, and evolving consumer preferences. Product Segmentation The market encompasses a wide array of products, including shampoos, conditioners, hair styling products, treatments, and accessories. Notably, specialised products catering to specific hair concerns—such as products for curly hair, anti-frizz solutions, and products addressing hair loss—are gaining traction among consumers seeking tailored solutions. Digital Transformation The digital landscape has also played a pivotal role in the industry’s evolution. Online retail platforms, social media, and e-commerce have transformed the way consumers discover, research, and purchase hair care products. Brands leverage digital marketing strategies and influencer collaborations to engage with their target audience and drive sales. Competitive Landscape The Australian hair care market is competitive, with both established brands and newer entrants vying for consumer attention. Brand loyalty, product efficacy, and pricing strategies are crucial factors influencing consumer choices. Understanding Hair Management as an Expense Haircare, while often deemed a vanity expense, is a significant part of self-care routines. From salon treatments to purchasing products, the costs associated with maintaining healthy and stylish hair can add up. However, there are practical strategies that can help trim down these expenses without compromising on your hair’s health and appearance. Money-Saving Tips for Haircare in Australia DIY Hair Treatments Experimenting with DIY hair masks using natural ingredients like coconut oil, avocado, or honey can be an effective and cost-efficient way to nourish your hair at home. Opt for Budget-Friendly Products Explore affordable yet quality haircare products available in Australia. Many brands offer shampoos, conditioners, and styling products that deliver excellent results without breaking the bank. You may have to be cautious with what to choose – in discussions with the team at Fun Cheap for Free, a licensed cosmetologist ruled out using “drugstore-brand” shampoo or conditioners as some of them have pH levels high enough they can be used for perming, and they can contain harsh chemicals that actually dry your hair.    Embrace Minimalism in Salon Visits Rather than frequent salon trips, consider extending the time between haircuts or colouring appointments. Opt for low-maintenance hairstyles that require less frequent professional attention. Wellness coach Kalyn Brooke said a longer interval between appointments may be possible by extending the time between haircuts to six months as opposed to six or eight weeks, even if you really need to reduce split ends.   Look for Student or New Stylist Discounts Many salons offer discounts for students or introductory rates for new stylists. Take advantage of these offers while still getting professional services at a lower cost. Subscription Services Consider subscription services for hair care products. Some companies offer discounted rates for regular deliveries, saving both time and money on purchasing products individually. Invest in Quality Tools Investing in high-quality hair tools, such as a durable hair dryer or a good quality hair straightener, can save money in the long run by reducing the need for frequent replacements. DIY Styling at Home Learn simple styling techniques through online tutorials and practice doing your hair at home for everyday looks, reducing the need for frequent salon styling appointments. Timing Matters for Sales and Promotions Keep an eye out for sales and promotions on haircare products or salon services. Timing your purchases during these periods can help you save significantly on your haircare expenses. Swap Services with Friends Consider swapping skills with friends or family. If you have expertise in another area,

With planning and effort, you can garden on a budget while adding beauty and value to your home. Gardening is a great hobby for many Australians, and a well-maintained garden can add beauty and value to a home. However, keeping a garden in top condition requires a significant amount of time and money. The good news is that with a little planning and effort, it is possible to maintain a garden on a budget. In this article, we will provide tips for managing the budget for garden maintenance and help you make the most of your gardening dollars. Assessment The first step in budgeting for garden maintenance is to assess the size and type of garden you have. Consider factors such as the number of plants, trees, and flowers, as well as the type of soil and climate. This will help you determine the resources you will need, such as water, fertilisers, and tools, to keep your garden healthy and beautiful.  Set a Budget Once you have assessed your garden, set a budget for maintaining it. This should take into account all of the costs associated with garden maintenance, including soil, seeds, plants, tools, water, fertiliser, and labour. Consider setting aside a portion of your budget for unexpected expenses, such as repairs or replacement tools. Spending priority When it comes to garden maintenance, it is important to prioritise your spending. Focus on the most important aspects of your garden first, such as watering, fertilising, and pruning. These tasks will keep your plants healthy and will ensure that they continue to grow and produce flowers. Save on Tools and Supplies Tools and supplies are among the biggest garden maintenance expenses you can incur. To save money, consider purchasing used or refurbished tools and supplies, or look for deals and discounts at local gardening stores. Additionally, consider investing in durable, high-quality tools that will last for many years instead of cheaper tools that might break after short use. Going DIY Performing the garden maintenance yourself can save you a significant amount of money. Simple tasks such as watering, pruning, and applying fertiliser can be done easily and quickly, without the need for a professional gardening service. With a little effort and practice, you can become an expert at budget gardening.  Think of this scenario: your garden needs a lot of mowing and you have ample time to get it done. According to our friends at HiPages, the national average for lawn mowing fees per-hour range from $60 to at least $120 for a professional lawnmower using the larger, ride-on units. Considering that a lawn mowing job lasts between two to six hours depending on the size of the garden property and the amount of grass growing, the money spent on hiring a specialist can be redirected for other matters. What about the grass clippings? They can be repurposed as mulch or sent to your council’s green-bin waste removal service.    Friends and Loved Ones Another way to save money on garden maintenance is to get help from friends and family. Enlist the help of family members and friends who enjoy gardening or who have a green thumb. This can be a fun and social way to maintain your garden and reduce your costs. If you have neighbours who also tend their own gardens, the team at Jim’s Mowing suggest asking them for cuttings from their own plants so you can plant them in your own pots. Some plant specialists agree that planting existing cuttings reduces the growing time than seeing a plant grow from a seed.   Reuse and Recycle Reusing and recycling is a great way to save money on your garden budget. For example, you can reuse old containers for seedlings, or use compost to fertilise your garden. Additionally, consider planting drought-tolerant plants that require less water and maintenance. Get Creative  Finally, get creative with your garden design. Consider using low-maintenance plants and hardscape elements, such as rocks and stones, to add interest to your garden without the need for costly maintenance. Additionally, consider planting native plants that are well-suited to the Australian climate and require less care and resources. Conclusion Maintaining a garden can be expensive, but with a little effort and planning, it is possible to do it on a budget. Consider assessing your garden, setting a budget, prioritising your spending, and doing as much of the maintenance yourself as possible. Get creative with your garden design and consider using low-maintenance plants and hardscape elements, and don’t be afraid to get help from friends and family. By following these tips, you can enjoy a beautiful garden that looks wonderful whether viewed from inside the house from the curb. DISCLAIMER: 2 Ezi has no working relationships with any service providers mentioned in this article.

Investment opportunities abound for those with disposable income. Loved ones may suggest ventures for future growth, but key lessons in wealth-building remain vital. People with any amount of disposable income may have some ideas of where to spend it. Some loved ones could suggest investing it in a venture of sorts to let that money grow for the future. While it may be notable to build more wealth through various legitimate avenues, there are still cardinal lessons to take to heart.  Long-term mapping Investment is often seen as a long-term plan, especially when you have some financial goals you want to achieve after a set period of time, such as capital for a future business but want to grow the money first. Before taking the leap, try listing your net wealth and identify if you have any spare cash that can be used for your prospective investment.  Cyclicals  Investment markets are known to work in cycles. There will be some good points and bad times depending on how a business progresses and the industry changes around  them. Some cycles may even go into term periods, from three years to as long as 20 years. Intelligence collection A strong amount of background research is critical to learning whether the investment would be beneficial to you or become a money pit. In line with this, you have to find out elements such as how the business operates, the source of its funding, the nature of the cash flow and the level of dividends. Any investment agreements should have properly defined fact sheets, product disclosure statements, and target market determinations; if they are unclear to you, have a friend skilled in investment businesses, an ASIC-accredited finance advisor or a corporate solicitor explain them to you. Take any sales talk at face value and dig deeper. Stay the course with the superannuation Every Aussie knows that part of their paycheck goes to the superannuation account. Your chosen super provider will have a set of investment options and associated fees to learn. However, do not attempt to withdraw anything from the super account just to invest in other areas, as it might derail your retirement plans down the road. The ATO also has a set of conditions where early withdrawal may be possible subject to tax.  Ignoring doom and gloom The events of the past three years often lend to some wild and maybe insane predictions of the future leading to certain investments being touted. You must calmly approach these offers of new investments and dismiss any pessimistic stories attached to them. The same thing is also true in apparently superlative statements with “great” as an adjective, which gives you more reason to doubt.  Dealing with the taxman  Even the tax authorities can get a slice from your investments. Your tax return should always include variables such as rent, interest, dividends and capital gains from assets including property and shares. They will show how much you paid for an asset and how much you sold it for whether at a loss or a profit. All records of tax returns must be preserved for five years.  Complacency kills Even when your investment portfolio is doing ok, that’s not a reason to rest on laurels, as anything can still happen. If you want to make some changes to your portfolio, find a basis in what’s going on in the market then act accordingly. Some investment specialists say that short-term goals can be a tricky fish to catch. Diversifying Ask any prominent venture capital investor about how their success story came to be and they may have a common thread – they diversified their investments. Simply put, diversifying is spreading out your investment portfolio across various products and industries you are interested in. Each of those investments will have their own risk factors. That way, if one asset has some losses, not all of your money will be lost. Learning compound interest Some investment professionals may underline going for ventures that offer compound interest, which means any small investment may have the potential to build up value over time. Residential property may be a classic example of investments building up in value long-term; Australian Bureau of Statistics (ABS) and Real Estate Institute of Australia (REIA) for example, notes an 11 per cent per annum increase in value starting from the early 20th century.  Not just cash only Do not just focus on cash-based investments such as savings accounts and term deposits. Some experts say that while they are notably secure investments, they offer very low annual interest rates and are vulnerable to inflation, the worst case of which is the hyperinflation in Germany during the Weimar Republic. Risk and return  Every investment can be gambling – they carry a certain level of risk and potential returns. Some investment experts peg that in terms of risk versus return, cash and bank deposits carry the lowest risk and meager return. On the other side of the spectrum, private capital assets and equities carry the most risk but bigger returns if things turn out well or the investor knows the best way to manage them. One example of risk and return is the digital payment sector. Although such methods were not given much attention for most of the previous decade, the pandemic increased the impetus as people sought more convenient ways to pay for their needs without compromising other people. This in turn led to reduced dependence on hard cash for certain societies. The World Bank’s Global Findex 2021 report, in particular, identified 57 per cent of people in developing economies using digital payments, compared to 35 per cent in 2014.      It is worth it to save money for the future and build up on that wealth. You will also lose much stress that usually comes with wondering where to get the money for all your needs. DISCLAIMER: This article is for informational purposes only and not meant to be official financial advice.

For new graduates, finishing college or university is a thrilling milestone, signifying the start of a new chapter in their life. As you step into the professional world, it’s important to arm yourself with essential financial knowledge. This blog post offers valuable finance tips specifically tailored for new graduates. Create a Budget One of the first steps towards financial stability is creating a budget. Start by identifying your monthly income, including your salary and any additional income sources. Then, list all your necessary expenses such as rent, utilities, groceries, and transportation. If you have a job waiting for you after graduation and can draw an income early on, you can allocate part of the net pay to savings and a discretionary fund. By tracking your expenses and sticking to a budget, you can effectively manage your finances and avoid unnecessary debt. Manage Student Loans Many fresh graduates carry the burden of student loans – and in Australia, that mostly falls under the federal government’s HECS-HELP assistance programme. The government estimated that at the end of 2023 financial year, Australian university graduates owed as much as $78 billion – but a recent clerical error in the records resulted in the debts of 13,748 students from 104 higher education institutions being fully written off, equivalent to $5.4m.   If you still have student loans to settle, understand the terms and conditions of your loans, including interest rates, repayment plans, and grace periods. Develop a repayment strategy by making consistent payments to avoid defaulting on your loans. Explore options such as income-driven repayment plans or refinancing to ease the financial strain. Build an Emergency Fund Creating an emergency fund is essential for unexpected expenses or job loss. Some financial experts claim that a general rule of this is to save up money to cover six months’ worth of living expenses, with any money left over from settling all important matters automatically set for the kitty. Consider opening a separate savings account to keep your emergency fund separate from your regular spending. Understand Taxes Familiarise yourself with the basics of taxation, including income tax brackets, deductions, and credits. Ensure you comply with Australian Taxation Office (ATO) regulations by accurately reporting your income and claiming eligible deductions. A licensed tax agent can get you started with the mechanics of declaring the returns.  Start Investing Early Take advantage of the power of compound interest by starting to invest early. Consider opening a retirement account such as a superannuation fund. Contribute regularly and explore different investment options based on your risk tolerance.  A financial advisor may be critical if you are looking to make informed investment decisions early in adulthood; Findex investment relations chief Matthew Swieconeck said an alum’s parents can also be good investment advisers if they have had ample experience in the field and have built a nest egg for themselves. Under current super rules, regardless of how much your monthly pay is, your employer must still contribute part of your pay to your superannuation account, as the ATO is ramping up efforts to recover unpaid supers.  Live Within Your Means Avoid the temptation of overspending to keep up with others or indulging in unnecessary luxuries. Prioritise needs over wants and focus on building financial stability. Distinguish between essential and discretionary expenses, and make conscious choices about where to allocate your money. Remember that long-term financial security is more important than short-term gratification. Build Credit Responsibly Establishing a good credit history is crucial for future financial endeavours. One way to build good credit is to apply for a credit card with a small credit limit and learn to use it responsibly – some young adults, though might advise against applying for one as it may be akin to “financial suicide” if the swipes were not under control. Pay your bills on time and in full each month to avoid interest charges. Monitor your credit report regularly to ensure its accuracy and dispute any errors promptly. Responsible credit card usage can help you qualify for loans, mortgages, and lower interest rates in the future. Remember though that if you are still paying off any student loans, they may reflect in your credit card application. Continuously Educate Yourself Financial literacy is an ongoing process. Stay updated on financial news, trends, and investment strategies. Read books, attend workshops, or take online courses to enhance your financial knowledge and make informed decisions. Being well-informed will empower you to navigate the ever-changing financial landscape confidently. Track Your Expenses Keeping track of your expenses is crucial for understanding where your money is going, which can be possible with special budgeting apps or spreadsheet programs. Categorise your expenses and identify areas where you can cut back – the extra money you save may be reprogrammed for other vital matters such as paying off debts or utilities at home. By analysing your spending patterns, you can make necessary adjustments to align your expenses with your financial goals. Minimise Debt Avoid accumulating unnecessary debt and work towards paying off existing debts as soon as possible. Prioritise high-interest debts, such as credit card balances, and develop a repayment strategy, including possible debt consolidations or negotiating with creditors. Minimising debt early on will provide you with more financial flexibility in the future. Save for Retirement Some of your peers or older relatives may advise you to start preparing for retirement while still young – that wisdom may actually be correct. Take advantage of employer-sponsored superannuation funds, and research on potential options to transfer super providers in case you change employers. The power of compounding over several decades can significantly grow your retirement savings. Insurance Coverage Take out an insurance policy for yourself and your assets. Consider health insurance, car insurance, renter’s or homeowner’s insurance, and disability insurance. Research different providers to find the most suitable coverage options for your needs. Insurance will help you financially prepare for unexpected events and can provide a safety net during difficult times. Networking Building a strong professional network can open doors