Author name: 2 Ezi

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

Managing the inheritance is one of the most critical aspects of managing your wealth and finances. Inheritance is a substantial amount of money or assets that you receive from a loved one who has passed away. It is a testament to their love and care for you and their hope that the money or assets will be put to good use. Inheritance is an emotional issue that can often cause conflicts within families, but it is crucial to deal with it in a manner that is both fair and respectful to all parties involved. This article will discuss the importance of managing your inheritance and the various tax implications that you need to consider in Australia. Why Manage Inheritance? The first step in managing your inheritance is to ensure that the process is carried out smoothly. If you are the executor of the estate, it is essential to understand your legal responsibilities and obligations. This includes ensuring that all debts and taxes are paid, and that the assets are distributed to the correct beneficiaries. Managing an inheritance can also help you to maintain your financial stability and independence. By properly investing the money or assets, you can secure your financial future and ensure that you are able to live the life that you want, and also ensure that the inheritance lasts for generations to come. Inheritance Tax In Australia, the government abolished federal estate duties in 1979, and eliminated estate duty at the state/territorial level by 1982. However, there are still some tax implications that you need to consider when managing your inheritance. One of the most important tax considerations is capital gains tax (CGT). Capital gains tax is a tax on the increase in value of an asset that you have held for more than 12 months. This tax applies to assets such as real estate, shares, and other investments. Inherited assets are exempt from CGT if the deceased held the asset for more than 12 months before their death. However, if the asset was held for less than 12 months, CGT will be calculated based on the market value of the asset at the time of death. Income tax is another important consideration when managing your inheritance. If you receive income from the inheritance, such as rent from a property or dividends from shares, you will need to pay the associated tax. It is important to note that the ATO has tax implications for different types of assets, especially for deceased estates, so it is essential that you have a registered tax agent with the ATO helping you assess the amount of tax to be paid. Using the inheritance Financial advisors are sometimes the first to be approached by inheritance beneficiaries, as loved ones could invite some unwanted scrutiny. Depending on the level of discussions, many advisors counsel using the inheritance in a number of ways. Settling arrears It goes without saying that when people receive a large inheritance, they may use it to pay off all their outstanding debts. This is especially beneficial for settling high-interest debts and credit card balances (and possibly avoiding their use in the foreseeable future). Do you want to have some of your inheritance to aid in refinancing your mortgage and pay off your house many years ahead? It’s very tempting, but anything is possible! Superannuation You can programme part of the inheritance to your superannuation account. However, while there are no taxation issues with adding to the super aside from marginal CGT rates, the ATO mandates the maximum limit you can put in every fiscal year to avoid contribution cap charges. Trust fund A part of your inheritance can be put into a trust fund, with a purpose you must properly define. Some advisors can recommend using that trust fund for an investment portfolio, which may bring up dividends depending on market conditions. If you intend to set up a trust fund for your children’s future, a good tip is to mandate that the children cannot access the account until they reach adulthood and have demonstrated competence with handling money. Philanthropy What if the advice you got leaned on putting some inheritance for a charity? If you take out some cash and donate it to a charity organisation, you must research whether that organisation is on the ABN’s list of deductible gift recipients (DGR). The ATO allows charity cash donations as tax-deductible provided the DGR meets certain conditions listed here. A finance app such as 2 Ezi may be a valuable ally to aid your inheritance management. The app’s budget manager allows you to keep track of all your bank balances and assets while giving you the space to plan your financial goals, especially when you are angling your inheritance for a future endeavour. Conclusion Learning to fully manage your inheritance is an essential aspect of managing your wealth and finances. It is a way to ensure that your financial future is secure and that you are able to live the life that you want. Inheritance can generate various issues among a deceased’s surviving family, a fair resolution can ease the path going forward.  DISCLAIMER: This article is for informational purposes only and is not meant as official probate/estate planning advice. 2 Ezi has no relations with any estate planning service or tax agent. Please consult your estate solicitor and tax agent.

Starting a new job is a significant milestone in anyone’s life. Whether you’re fresh out of college, switching careers, or stepping into a new role within the same industry, the first week at a new job can be both exciting and daunting. The key to surviving and thriving in your first week is preparation, adaptability, and a positive attitude. Here’s a comprehensive guide to help you navigate this crucial period with confidence. Preparation is Key Before you even step into your new workplace, preparation begins. Here are some essential steps to take: Research the Company Understanding the company’s culture, values, and mission is crucial. Review the company’s website, social media profiles, and any recent news articles. This will give you a sense of the company’s direction and priorities, helping you align your goals and actions accordingly. Understand Your Role Revisit the job description and any notes from your interviews. Clarify your responsibilities and expectations. If possible, reach out to your new manager or HR for any additional resources or reading materials that could help you understand your role better. Plan Your Commute Whether you’re driving, taking public transport, or walking, plan your route to ensure you arrive on time. Consider doing a test run if you’re unfamiliar with the area. Being late on your first day can start things off on the wrong foot. First Impressions Matter The first impression you make on your colleagues and superiors can set the tone for your tenure at the company. Here’s how to make a positive impact: Dress Appropriately Dressing appropriately for your new workplace shows respect and professionalism. If you’re unsure about the dress code, it’s better to be slightly overdressed on your first day. You can always adjust your attire once you get a feel for the office environment. Arrive Early Aim to arrive at least 15 minutes early. This shows punctuality and enthusiasm. It also gives you some buffer time in case of unforeseen delays. Be Polite and Friendly Introduce yourself to your new colleagues with a smile. A positive attitude can go a long way in building rapport. Remember to be respectful and courteous to everyone, regardless of their position. Navigating the Office Culture Understanding and adapting to the office culture is crucial for your success. Here are some tips to help you blend in smoothly: Observe and Learn Spend the first few days observing how things work. Notice the office dynamics, communication styles, and work habits of your colleagues. This will help you understand the unspoken rules and norms of the workplace. Ask Questions Don’t be afraid to ask questions. It’s better to seek clarification than to make mistakes. Most colleagues will appreciate your eagerness to learn and contribute effectively. Find a Mentor If possible, identify a colleague who can act as a mentor. This person can provide valuable insights into the company culture, offer advice, and help you navigate challenges. Building Relationships Building strong relationships with your colleagues is essential for a positive work experience. Here’s how to foster good connections: Be Approachable Make an effort to be approachable and open. Small gestures like greeting your colleagues, participating in team activities, and being available for casual conversations can help build camaraderie. Network Take advantage of networking opportunities within the company. Attend meetings, join workgroups, and participate in social events. Building a professional network can provide support and open doors for future opportunities. Show Appreciation Express gratitude for any help or support you receive. A simple thank-you note or verbal acknowledgment can go a long way in building goodwill. Managing Your Workload The first week can be overwhelming with a lot of new information and tasks. Here’s how to manage your workload effectively: Prioritise Tasks Work with your manager to prioritise your tasks. Understand which tasks are urgent and which can wait. This will help you manage your time effectively and avoid unnecessary stress. Set Realistic Goals Set achievable goals for your first week. Focus on completing smaller tasks and learning as much as possible. This will help you build confidence and momentum. Take Breaks Don’t forget to take breaks. Short breaks can help you stay focused and productive. Use this time to relax, recharge, and socialise with your colleagues. Embrace Continuous Learning The first week is just the beginning of your journey at the new job. Embrace a mindset of continuous learning and improvement: Seek Feedback Regularly seek feedback from your manager and colleagues. Constructive feedback can help you identify areas for improvement and grow in your role. Reflect and Adapt Take time to reflect on your experiences and adapt accordingly. Learn from your mistakes and celebrate your successes. This will help you continuously improve and excel in your role. Invest in Professional Development Take advantage of any training and development opportunities offered by the company. This could include workshops, online courses, or mentorship programs. Continuous learning will help you stay relevant and advance in your career. Maintaining a Work-Life Balance Starting a new job can be demanding, but it’s important to maintain a healthy work-life balance: Set Boundaries Establish clear boundaries between work and personal life. Communicate your availability to your manager and colleagues to avoid burnout. Practice Self-Care Take care of your physical and mental well-being. Make time for exercise, hobbies, and relaxation. A healthy mind and body will help you perform better at work. Seek Support Don’t hesitate to seek support from family, friends, or a professional if you’re feeling overwhelmed. Having a strong support system can help you navigate the challenges of a new job. Conclusion Surviving the first week of work is all about preparation, adaptability, and a positive mindset. By understanding your role, making a good first impression, adapting to the office culture, building relationships, managing your workload, embracing continuous learning, and maintaining a work-life balance, you can set yourself up for success in your new job. Remember, the first week is just the beginning. With the right approach, you can thrive and achieve great things in your new role. DISCLAIMER:

Travelling is an enriching experience, and what if you could not only explore Australia but also earn an income while doing so? In this article, we will delve into the various methods you can use to make money while travelling in Australia. Remote Work and Freelancing The labour situation generated by the pandemic opened up possibilities of engaging in remote working solutions and taking up other work opportunities to supplement the income. Digital Nomad Lifestyle Embrace the digital nomad lifestyle by working remotely while travelling. Many companies now offer flexible work options, allowing you to work from anywhere with an internet connection. Explore job opportunities in fields such as writing, graphic design, programming, virtual assistance, marketing, and consulting. Freelancing Platforms Join freelancing platforms such as Upwork, Freelancer, or Fiverr to offer your skills and services to a global client base. Build an engaging profile, highlight your portfolio, and actively seek out projects that match your skills and experience. Online Teaching and Tutoring If you have a knack for teaching, consider becoming an online tutor or English language instructor. Platforms like VIPKid, Teachable, and iTalki connect you with students worldwide, allowing you to teach and earn income while travelling. Blogging and Content Creation Blogs and various classes of audiovisual content have been made possible with strong internet connections, allowing online users to access volumes of material in a few clicks.  Travel Blogging Start a travel blog and document your adventures, experiences, and travel tips. Monetise your blog through affiliate marketing, sponsored content, advertising, and partnerships with travel brands. Build a loyal audience and create engaging content to attract advertisers and sponsors. YouTube and Vlogging YouTube’s video-sharing functions have invited opportunities to make video journals of any experiences. Through a dedicated channel, your videos can share stunning visuals, provide travel advice, and showcase local culture. As your channel grows, monetise your content through advertising, brand collaborations, and sponsored videos; YouTube allows for such via its Partner Programme, with certain ads placed at specific timestamps in the video. Social Media Influencing Leverage your social media presence to collaborate with brands and promote products or services related to travel. Develop a strong personal brand and engage with your audience; part of that engagement may include a chance for paid partnerships with tourism boards, hotels, and travel companies. One starting idea will be to book a stay with the accommodations provider like a regular customer and discuss the services and amenities. The management may be approached to collaborate as long as you demonstrate the financial capacity to pay for your stay (and prevent a repeat of the controversy that hounded a British beauty influencer’s attempt to book a stay with a certain Irish inn and pay for it with “shoutouts.”). In another aspect, if you were invited to a paid vacation with the accommodation provider, you must state in a disclaimer that you came in as a guest of the company. Hospitality and Tourism The chance to travel lends itself the space for cultural immersion and here are some notable ideas to make it happen: Work in Hospitality Seek employment opportunities in the hospitality industry, such as hotels, hostels, resorts, and restaurants. Positions like front desk staff, bartenders, servers, or tour guides are often available, especially in popular tourist destinations. House Sitting Offer your services as a house sitter, taking care of someone’s property and pets while they are away. House-sitting platforms like TrustedHousesitters connect homeowners with reliable sitters, allowing you to stay in unique locations for free while earning some income. Tour Guiding If you have in-depth knowledge of specific locations or attractions, consider becoming a tour guide. Join local tour companies or create your own guided tours, providing unique and personalised experiences for travellers. Creative Ventures Travelling can offer ways to be creative about the places you’ve gone to.  Photography and Stock Images If you have a passion for photography, sell your travel images through stock photography websites like Shutterstock or Adobe Stock. Alternatively, offer your photography services to individuals or businesses for events or marketing purposes; these may require some serious investment in gear, such as a good DSLR camera and premium photo editing software. Arts and Crafts If you have artistic skills, create and sell handmade crafts or artwork. Set up an online store on platforms like Etsy or participate in local markets and fairs to showcase and sell your creations. Performances and Busking If you have a talent for music, street performances, or entertaining, consider busking in popular tourist areas. Check local regulations and obtain necessary permits to perform legally while earning income through tips or CD sales. Work Exchanges and Volunteering Some travellers may want to contribute to their host destination. Work Exchanges Join work exchange programmes like Workaway or HelpX, where you can work a few hours a day in exchange for accommodation and meals. Engage in a variety of tasks, such as farming, gardening, hostel management, or eco-projects, while immersing yourself in the local culture and reducing your travel expenses. Volunteering Contribute your time and skills to meaningful projects or organisations as a volunteer. Help with conservation efforts, community development, or social initiatives. Volunteering not only allows you to give back but also provides opportunities to connect with local communities and gain unique experiences. World Wide Opportunities on Organic Farms The title refers to the World Wide Opportunities on Organic Farms community or WWOOF, where you can work on organic farms in exchange for accommodation, meals, and learning about sustainable farming practices. The Australian chapter, in particular, offers free meals and lodging in return for working four to six hours a day (maximum 38 hours a week). Monetised Travel Skills Travelling may be a side profession if done correctly, with some notable skills below: Travel Writing and Photography Submit your travel stories and photographs to travel magazines, websites, or blogs that pay for quality content. Develop your writing and photography skills to create compelling narratives and captivating visuals. Travel Consultancy Share your expertise and experiences by offering

With the rise of technology comes the rise of cybertheft. Australia’s banking industry faces significant risks. Learn how to secure your accounts. With the rise of technology, comes the rise of cybercrime. The banking industry in Australia is no exception to this, and it’s essential to be aware of the risks associated with online banking and how to better secure your accounts from hacking. The country has already had its ugly share of cyberattacks and data breaches in the past few years, with the most prevalent in recent times being hacks on The Guardian Australia, Optus, Woolies’ MyDeal, and ports operator DP World. Let’s explore the ways to defeat cybercriminals and protect your funds from cybertheft. What is Cybertheft? Cybertheft refers to the unauthorised access to and theft of sensitive information, such as bank account details, by individuals or groups through the use of the internet. Cybercriminals use various methods to gain access to sensitive information, such as phishing scams, malware, and hacking. Cybertheft can have devastating consequences, including the following. Loss of funds The most significant consequence of cybertheft is the loss of funds. Cybercriminals can drain your bank account, leaving you with nothing. In a case reported by 7News, a 56-year-old nurse in Melbourne was saddened to lose $200k in life savings after criminals wired $210 into her CommBank account and then called her up posing as a banker, asking her to wire it back. The criminals acquired enough details to get into the account and syphon the funds. Although the nurse was able to have the bank refund her money, it gave her a nasty experience and asked the public to closely monitor their accounts.  Identity crime Cybertheft can also result in identity crime, where the criminal uses your sensitive information to open new accounts, apply for loans, or make fraudulent purchases. The Australian Institute of Criminology looked at this problem further in its July 2023 evaluation of the Australian Cybercrime Survey 2022, which had 13,887 respondents. The data revealed that in the 12 months prior, 20 per cent of respondents confirmed instances of identity crime targeting them, with suspicious transactions detected in their bank accounts; a closer review of the origins pinned down the usage of names and credit/debit information, plus hacked devices, as the threat vector. Damaged reputation A data breach can harm your reputation and make it difficult for you to obtain loans, open new bank accounts, or even get a job. Make Your Bank Account Hack-Proof To better secure your bank account from hacking, it’s important to take a proactive approach. The following are some steps you can take. Multi-factor authentication Multi-factor authentication (MFA) adds an extra layer of security to your bank account, making it more difficult for cybercriminals to access it. According to the Australian CyberSecurity Centre, your bank’s MFA methods will include code generators within your app, biometric scans, and a one-time password sent to you via automated text upon request. As much as possible, prevent being caught in nasty situations such as holdups, where criminals could steal your devices with the account access.   Complicated passwords Create strong, unique passwords that are hard to guess. Avoid using easily accessible information like your name or birthdate. Fun ideas for a secure password include switching certain letters for numbers, favourite phrases that people don’t know of you, or codewords. Consider testing your email addresses through the Have I Been Pwned? website. Designed by Aussie cybersecurity expert Troy Hunt, the website will gauge your email addresses to see whether they have been compromised by a data breach; change your passwords immediately.   Regular account monitoring Regularly check your bank accounts for any signs of suspicious activity. This will allow you to quickly detect any unauthorised access and take action; you must talk to your bank’s customer support and alert them of any illegal transactions.  Treading carefully on public WiFi Public WiFi is vulnerable to hacking, so be careful when accessing your bank account or sensitive information when using public Wi-Fi terminals. In many cases, cybercriminals have also found ways to hack into a phone linked into a public WiFi grid. You can work this around by using premium VPN services which will allow you to access without the danger of penetration.   Vigilance Stay vigilant and be aware of the latest cybercrime trends and methods used by cybercriminals. Defeating Cybercriminals Defeating cybercriminals requires a combination of preventative measures and proactive behaviour. Below are some ways you can defeat cybercriminals. Updated software Regularly update your software and security systems, as this will help protect against known vulnerabilities. If you are accessing your accounts on a desktop, an updated version of any premium antivirus program can suppress any cyber threats. Self-Education Educate yourself on the latest cybercrime trends and methods used by cybercriminals. This will help you stay vigilant and better protect yourself. Report suspicious activity Report any suspicious activity, such as emails from unknown sources, to your bank and the relevant authorities. Keep a listing of the official contact details of your bank and reporting agencies such as the ACSC, AFP, and the ACCC Scamwatch.  Safeguard personal information Be cautious with the personal information you share online, as this can be used by cybercriminals to gain access to your bank account. To one end, you should not click on URLs included with text messages and avoid answering spam emails, even including those with attachments that are most likely malware. A spam filter in your email service will set them aside.  Bank Coordination Work with your bank to better secure your account. Your bank will have the latest security systems in place and can provide you with advice on how to better protect yourself. You must also heed periodic cybersecurity notices sent by your bank’s official channels. Conclusion Protecting your funds from cybertheft is crucial in today’s digital age. By being proactive and taking the steps outlined in this guide, you can better secure your bank account and defeat cybercriminals at their own game. DISCLAIMER: This article

What is a Pescatarian Diet? The pescatarian diet, or pescatarianism, primarily consists of vegetarian foods with the inclusion of fish and other seafood. This dietary approach can offer several potential health benefits. A diet centred on plant-based foods provides numerous health advantages, which can be further enhanced by the addition of fish and seafood. Budgeting for a Pescatarian Diet The Pescatarian diet is becoming increasingly popular in Australia as people look for healthier and more sustainable ways to eat. However, eating a pescatarian diet can also be expensive if you’re not careful. Here are some tips for managing your budget for a pescatarian diet. Meal planning Planning your meals in advance is an essential part of managing your Pescatarian budget. By knowing what you’re going to eat ahead of time, you can make sure you’re only buying the ingredients you need and avoid wastage. This will also help you stick to your budget as you’ll only be buying what you need. Seafood options While Pescatarian diets are basically vegetarian diets, they are touted to address nutrient deficiencies in vegetarian or even in vegan diets with more fish or seafood. For a Pescatarian menu, any seafood is fair game, including shellfish, salmon, tilapia, and cod. The team at the Healthy Fish, in particular, recommends going to the frozen food section at your supermarket for your seafood options. Tinned fish is still okay but the Healthy Journal recommends draining the broth to avoid excessive sodium intake.     Buy in-season produce Eating seasonally is not only better for the environment, but it’s also cheaper because of the seasonal harvest creating an abundance of produce, resulting in lower prices. So, make sure to buy fruits and vegetables that are in-season to save money and get the best quality produce around. Shop at farmers’ markets Farmers’ markets are a great place to buy fresh, local, and in-season produce. You can often find great deals on fruits and vegetables at these markets. You’ll also be supporting local farmers and producers, which is better for the environment and the local economy. Some food planners postulate that if you have frequently bought from a local farmer who always sets up at the market, they will remember you and might even offer some deals. Buy in bulk Buying in bulk is an excellent way to save money on your grocery bill. You can often find bulk bins of grains, beans, and nuts – all important components in a Pescatarian diet – at health food stores or supermarkets. Buying in bulk also reduces packaging waste, which is better for the environment, but has reusable storage containers ready to divide the bulk items and put them away in cool, dry places.  Use frozen fruit and vegetables Frozen fruit and vegetables are often cheaper than fresh produce, and they’re just as nutritious, especially when included in a Pescatarian diet. They’re also convenient as you can keep them in your freezer for longer periods of time. Use frozen produce in smoothies, soups, stews, and casseroles. For a Pescatarian smoothie, Everyday Health states that fruit (including a frozen fruit item) can be mixed up with kefir or yoghurt. Plant-based protein Plant-based proteins such as beans, lentils, and tofu are cheaper than meat and fish. They’re also a great source of protein, fibre, and other nutrients, as those three food classes work well in a Pescatarian diet according to Oceanbox.  Choose sustainable seafood When choosing seafood, it’s important to choose sustainably-caught or -farmed options. This not only helps to protect our oceans and marine life but also ensures that you’re getting the best quality seafood. You can often find sustainable seafood options at your local fishmonger or at specialty seafood stores. Some may ask why go for sustainable seafood products as part of your pescatarian diet. Writing for UniSydney’s CPC RPA Health for Life Program in July 2023, Dr Rosilene Ribeiro said there is still a danger of mercury contamination in seafood products acquired in many markets. Custom meals and snacks Making your own meals and snacks is often cheaper than buying pre-packaged options. This also allows you to control the ingredients and portion sizes. Try making your own granola bars, crackers, and hummus. You can also prepare large batches of meals and freeze them for later use. Leftovers A Pescatarian diet may have some leftovers but it’s tempting to just throw them away. Instead of throwing out leftover rice or vegetables, use them to make a stir-fry or soup. You can also use leftover fish or seafood in tacos or salads. Conclusion Managing your budget for a pescatarian diet is possible with a little planning and effort. If the above tips are taken into account, you stand a better chance to improve your health while keeping your finances in the black  So, go ahead and embrace the Pescatarian lifestyle. Money management apps like 2 Ezi are in an ideal position to help you with investing in a Pescatarian diet. The app allows you to accurately set a limit for your food budget against your other important expenses – from there you can work out your shopping list. DISCLAIMER: This article is for informational purposes only. 2 Ezi has no business relationships with any company mentioned in the article. Please consult your general practitioner or nutritionist for further medical advice on pursuing a Pescatarian diet.

This article explores strategies single mums can use to secure their children’s education in private schools. Being a single mother is no easy task, especially when it comes to providing the best education for your children. As a solo parent in Australia, you may have concerns about funding private schooling for your kids. However, you can make it possible to have a good private education for your children. Issues with meeting educational finances have been a big question amongst Aussie parents, especially in recent times. An early 2024 study from Finder hinted that back-to-school expenses were expected to break $12.9 billion total – and buying school supplies alone accounted for $3.5 billion. In some angles, Finder’s Parenting Report 2023 also pointed at how many Aussie parents are grappling with a decision to send their children out of private schools and deal with burgeoning costs or enter into the public schooling system to save on expenses. Understand Your Financial Situation The first step towards funding private schooling is gaining a clear understanding of your financial situation, by evaluating your income flow and savings against expense levels. Create a budget to identify areas where you can cut back on unnecessary expenses and allocate more funds towards your child’s education. Research Private School Options Before making any financial commitments, thoroughly research private schools in your area. Compare their academic programmes, extracurricular activities, and reputation. Look for schools that align with your educational values and offer scholarships or financial aid opportunities. Some mothers might even aim for a school that can offer the full breadth of basic education levels. Ms. Jenni, a 39-year-old single mother, said she wanted a school that can build up her five-year-old daughter from “reception to Year 12”, to prevent reliving bad memories of her childhood where she herself was transferred to so many schools. According to Jenni, her daughter’s school said her child might not need to wear a blazer until a compulsory dress code is in effect upon reaching Year 4. Scholarships and Financial Aid Many private schools offer scholarships or financial aid programmes for students in need. Research and inquire about these opportunities. Prepare a compelling application highlighting your child’s achievements, interests, and goals. Some scholarships may be specifically targeted towards single mothers or children from disadvantaged backgrounds. Education Savings Plan Consider setting up an education savings plan specifically designed to fund your child’s private schooling. These plans offer tax advantages and can help you save for educational expenses over time. Seek Support from Family and Friends Don’t hesitate to reach out to your family and friends for support. Explain your goals and financial constraints to them, and they may be willing to contribute towards your child’s education. You can also suggest educational contributions instead of traditional gifts during birthdays or holidays. Part-Time Work or Side Hustles Consider taking on a part-time job or starting a side hustle to generate additional income. Look for flexible opportunities that won’t interfere with your parenting responsibilities. The extra funds can be directed towards your child’s education fund. Government Assistance Programmes Investigate government assistance programmes that may be available to single mothers in your area. These programs could provide financial aid, grants, or subsidies to help cover educational expenses. Contact local authorities or visit government websites to learn more about the eligibility criteria and application process. Crowdfunding Crowdfunding platforms can be a valuable resource for single mothers looking to fund their child’s private education. Create a compelling campaign explaining your situation, goals, and why private schooling is important for your child’s future. Share the campaign with your network and on social media platforms to reach a wider audience. School Tuition Payment Plans Some private schools offer flexible tuition payment plans. Speak with the admissions office to discuss the available options. These plans may allow you to spread out the cost of tuition over several months or years, making it more manageable for single mothers. Local Community Support Explore local community organisations, nonprofits, or foundations that support education initiatives. They may offer grants or scholarships specifically for children from single-parent households. Attend community events and connect with other parents to learn about available resources. One example of community support is the School Savvy shops run by Catholic Care Central Queensland. The pop-up stores offer school supplies at discounted prices, from water bottles to bags. A single mother from Mt Morgan who was interviewed by the ABC said the stores’ low prices have been wonderful in helping her prepare her two children’s school needs. Conclusion Funding private schooling for your children as a single mother in Australia may require careful planning and resourcefulness. By understanding your financial situation, exploring scholarships and financial aid options, and tapping support networks, you can make a secure investment in your child’s education. With determination and the right strategies, you can provide your children with a quality private education that sets them up for a bright future. DISCLAIMER:  This article is for informational purposes only and does not constitute financial advice. 2 Ezi has no working relationships with any organisation or company mentioned in this article. For further financial counselling assistance please contact National Debt Helpline (1800 007 007), Mob Strong Debt Help (1800 808 488), Lifeline (13 11 14), and Beyond Blue (1300 224 636).

Estate planning is an important process that involves making arrangements for the distribution of assets and the management of affairs after one’s passing. However, certain complexities arise when accounting for divorced partners, loved ones struggling with substance abuse, or individuals diagnosed with disabilities. In this article, we will explore the complications that can arise in estate planning and provide guidance on how to navigate these sensitive situations. Estate Planning Around Divorce Divorce introduces unique challenges in estate planning, particularly when it comes to the treatment of former spouses. Adjustments to your estate planning may be vital, considering the most recent ABS data available indicating 49,241 divorces filed in Australia for a 2.4 crude divorce rate.  Update Beneficiary Designations After a divorce, review and update beneficiary designations on various accounts and policies. This includes life insurance policies, retirement accounts, investment accounts, and payable-on-death (POD) or transfer-on-death (TOD) designations. Failure to update these designations may result in assets passing to an ex-spouse instead of intended beneficiaries. Revise Wills and Trusts A divorce often renders any provisions in a will or trust regarding the former spouse ineffective. It is essential to review and revise these documents to reflect the changed circumstances and ensure that assets are distributed according to the individual’s current wishes. This includes updating provisions related to property distribution, appointment of guardians for minor children, and naming of executors or trustees. Take note as well that Australia’s states and territories will have their own treatments on divorces and wills, which your family solicitor can guide you on. The team at Altus Financial claims that in some areas, a divorce removes the spouse who served the papers as executor if they were ever named in the will, and may not even be given anything due them. Address Custody and Support for Minors Divorce often involves child custody and support arrangements if the couple ever had kids. Estate planning should consider the well-being and financial security of minor children. This may involve appointing a guardian in the event of the individual’s death and establishing trusts or other mechanisms to provide for the children’s care, education, and upbringing. Powers of Attorney and Healthcare Directives During marriage, spouses often grant each other powers of attorney and healthcare decision-making authority. After a divorce,revoke or revise these documents to ensure that decision-making authority aligns with the individual’s current wishes and relationships. New powers of attorney and healthcare directives may need to be executed, designating trusted individuals to act on behalf of the individual in financial and medical matters. Review and Update Asset Distribution Divorce can impact how assets are distributed upon death. It is important to review and update any provisions related to property distribution, especially if there are specific assets or amounts designated for the ex-spouse. Additionally, the individual may want to reassess their overall estate plan and make adjustments based on their changed financial situation and goals. Estate Planning Around Substance Abuse Estate planning requires careful consideration if a beneficiary might have episodes with substance abuse. Leaving significant assets outright to someone battling addiction may inadvertently enable more destructive behaviour. In 2023, the Parliamentary Joint Committee on Law Enforcement expressed concerns about people having more digital channels to seek illicit substances (which may include people already hit with drug addiction) and sought input from the Australian Criminal Intelligence Commission and the Australian Institute of Criminology.  The following are some strategies to handle estate planning with a loved one under addiction. Asset Protection and Management Leaving significant assets outright to someone struggling with drug addiction may not be in their best interest. The funds could be misused, fueling destructive behaviour or exacerbating the addiction. To protect the individual and their inheritance, a trust can be established as part of the estate plan. A trust appoints a responsible trustee to manage and distribute the assets on behalf of the beneficiary, ensuring they are used for their intended purpose, such as rehabilitation, healthcare, or education. Substance Abuse Treatment and Support Estate planning can incorporate provisions that promote treatment and support for the individual’s addiction recovery. This may include directing funds from the trust towards rehabilitation programmes, counselling services, or ongoing therapy. By structuring the trust to provide financial assistance for recovery efforts, estate planners can contribute to the individual’s well-being and long-term recovery. Conditions and Incentives To encourage sobriety and responsible behaviour, estate planners can include conditions or incentives in the trust. For example, the trust may stipulate that the individual must maintain sobriety, attend regular counselling or support group sessions, or participate in educational or vocational programmes. Meeting these requirements could unlock additional distributions or benefits from the trust, providing motivation for the individual to maintain a drug-free lifestyle. Estate Planning Around Disability In estate planning, persons with disabilities (PWDs) require additional attention to ensure their financial security and access to necessary support.  Special Disability Trust One of the primary considerations for estate planning involving PWDs is the creation of the Special Disability Trusts (SDT). SDTs are designed to provide financial support for the person with a disability while preserving their eligibility for government assistance programmes such as the National Disability Insurance Scheme (NDIS) or disability pensions. The trust can be structured to supplement public benefits by covering additional expenses not provided by government support, but consult the Department of Human Services for further advice as they can gauge eligibility for support. Appointing a Trustee When establishing a special needs trust, it is important to carefully select a trustee who will manage the trust assets and make distributions on behalf of the beneficiary. The trustee should have a good understanding of the individual’s unique needs, be financially responsible, and act in the beneficiary’s best interests. This trustee may be a family member, friend, or professional trustee. Financial Management and Assistance Estate planning for a person with a disability should consider their ongoing financial management and assistance. This may involve appointing a financial guardian or solicitor to make decisions on their behalf if they are unable to do

Choosing to be a stay-at-home parent is increasingly common in Australia. This trend reflects desires for family connection and cost considerations. The concept of a traditional family dynamic has been evolving. While the dual-income family model has become the norm in many households, there is a growing trend of parents choosing to be stay-at-home parents in Australia. This shift in family dynamics is driven by various factors, such as the desire for a stronger connection with their children or the cost-effectiveness of staying at home. However, the decision to be a stay-at-home parent comes with its own set of financial challenges, which can impact the family’s overall expenses. In this blog, we will pick apart the rationale behind why some parents prefer to stay at home, as well as the costs that can mount up for the Australian household. Reasons to be a Stay-at-Home Parent One of the primary reasons some parents opt for the stay-at-home life is their child-rearing philosophy. They believe in providing hands-on care and nurturing for their children during the crucial formative years. This choice is often driven by the belief that a parent’s presence has a profound impact on a child’s development. There are also concerns that hiring a househelp to look after a child may possibly gravitate that child’s parental bond to the househelp instead of the parents. In a world where the demands of work can be all-consuming, some parents decide to prioritise family life over their careers. The idea of achieving a work-life balance, with a focus on spending quality time with their children, can be a powerful motivator for parents to stay at home. Staying at home can sometimes be financially beneficial. In some cases, the cost of childcare can be so significant that it makes more sense for one parent to stay at home and look after the kids. This is particularly true when the parent’s income barely covers the expenses associated with working, such as childcare, transportation, and work-related costs. Some sources attest that childcare in Australia costs between $90 to $180 per child per day. The emotional well-being of the family as a whole can be enhanced when one parent is always present. This can reduce the stress and pressure experienced by working parents and foster a more positive family environment. Many parents find personal fulfilment in being directly involved in their children’s upbringing. Witnessing their children’s milestones, teaching them valuable life skills, and being there for them can be immensely satisfying. The Costs of Choosing Stay-at-Home Parenthood While the decision to become a stay-at-home parent may offer numerous benefits, it is not without its financial implications. The following are some of the costs that can mount up for households in Australia. Loss of Income The most apparent cost of staying at home is the loss of income. This can be a significant blow to the family budget, particularly if the stay-at-home parent previously contributed significantly to the household income. Reduced Retirement Savings When one parent opts to stay at home, they may also miss out on retirement savings contributions. This can impact their long-term financial security, especially if they don’t have alternative retirement savings plans in place. Childcare Savings While this might seem counterintuitive, many families spend a considerable portion of their income on childcare services. Stay-at-home parents, on the other hand, save on these expenses, potentially offsetting the loss of income to some extent. In a 2023 interview with News Corp Australia’s Mary Madigan, Brisbane resident Ms Rebecca said she has worked to manage her partner’s take home income by wisely budgeting their expenses, and when it came to childcare, she has homeschooled her eldest child as they are on the spectrum    Education and Skill Development When a parent steps out of the workforce for an extended period, they may miss out on opportunities for career advancement and skill development. This could hinder their re-entry into the job market when they decide to return to work. Household Expenses The cost of household expenses can increase when one parent stays at home. Additional costs may arise from utilities, groceries, and other daily expenses that come with a family member being home all day. Career Interruption Staying at home for an extended period can lead to a career interruption. Upon returning to work, some parents may find it challenging to secure positions that are on par with their qualifications and experience. Side Hustles for a Stay-at-Home Parent For many stay-at-home parents, the financial challenges can be daunting. To mitigate these challenges and contribute to the household income, many opt to pursue side hustles. Here are some viable options for stay-at-home parents in Australia: Conclusion In a household where one parent chooses to be the stay-at-home caregiver, the other often assumes the role of the breadwinner. For the breadwinning partner, it is essential to recognise the financial and emotional responsibilities this role entails. Effective communication and collaboration between both parents are crucial for a successful partnership in this family dynamic. The decision to become a stay-at-home parent is deeply personal and often influenced by various factors, including child-rearing philosophies and financial considerations. While the costs associated with this choice are not to be underestimated, many parents find the experience to be rewarding and fulfilling. Balancing the books and managing expenses can be achieved through careful financial planning and exploring income-generating opportunities. Ultimately, the choice to stay at home or pursue a career is a family’s unique decision, and what matters most is the well-being and happiness of the family unit as a whole. DISCLAIMER:  This article is for informational purposes only.

Night out expenses can add up quickly. Instead of unwinding with costly nights out, consider tightening your budget and finding more affordable ways to relax. People want to unwind after a long day’s grind. In many cases, that unwinding is done with friends or family, but what if previous nights out have ended with enormous bills? You can push back that trend and tighten belts for the next night out. Cash, no cards  Prepare a certain amount of cash and make sure to spend within that limit, especially if you’re just going to one place. A budgeting app like 2 Ezi may help in keeping to the spending cap. Do not bring any credit cards; that way there’s less danger of being tempted to swipe it on a whim, let alone the possibility of losing the cards due to misplacement or theft. Even if you have a debit card on hand, do not attempt to withdraw money or swipe it either. Avoid using smartphone payment apps The prevalence of buy-now-pay-later (BNPL) apps gave consumers added flexibility with their payment options. However, that also gives rise to unwanted swipes using QR codes. If you have certain BNPL apps on your gadgets, make sure not to engage them, as any usage could also appear on your credit card the same way as a swipe. Eat before going out  Some social experts advise eating a full meal at home before heading out. That way, you reduce the need to order food yourself and also not increase your appetite. Walking If the place you’re going to is not that far away from home, consider walking with your friends. Aside from the exercise and mental clarity offered by the stroll, you save money that would have been spent on taking the taxi or a rideshare. However, if the group is already tipsy, you can split a taxi on the way home. Not just a bar-only place You may have to check up on social establishments that have other features on offer besides a bar. That way, you can bond with your friends or meet new people over other activities that may not require some spending. Off-peak nights Not all clubs tend to be full houses most of the time. Research the evenings when your chosen venue is not at peak capacity. You and your party will have more maneouvre room and can watch out for each other. Even when the COVID-19 pandemic is not over, you may also be wary of people with symptoms – check your state or territorial authority on the level of community transmission. No pub crawls  Some groups of club patrons may have plans to visit a number of bars all in one night. Consider going home after your group visits the first bar to prevent incurring additional expenses. Promotional staff Some clubs may have promotional staff coming up to offer a drink. As much as possible, avoid the offers for your own safety and protect your budget. Nobody knows if the drinks they are offering are a potent kicker – or have been spiked with certain sedatives. Avoid big-ticket drinks Even if you resolve to have just one alcoholic drink, do not be tempted to order one shot of the most expensive drink on the menu. There’s a chance your entire budget for the night may be spent on it. Just one pitcher If your group is going for the same drink, ask if the dining place offers the drink in a pitcher and the team can chip in to cover that cost. This can save you and your group full price for separate glasses of the same drink. Take advantage of deals If you’re heading out to a bar, research beforehand if the place has deals. These may include free drinks for one person in a party depending on the size or half-price off certain drinks during off-peak hours. If you intend to hang out at a particular place going forward, some nightlife gurus suggest getting to know the staff and building relationships with them; they will appreciate your loyalty and possibly give you incentives. No to “waiter, another round!” If you and your friends are at the bar, limit yourself to one drink only and you can’t order a round for everyone on the team. You run the danger of considerably blowing your budget if you do order a round. Constant hydration Alcohol is a diuretic and will force you to hit the restroom many times in one night if the drinking is not controlled. You need to request water on tap to keep your fluid intake between drinks – even more if you only consume one alcoholic drink. Conclusion If you need a hangover meal, plan ahead by stocking up easy-to-prepare food at home, such as frozen pizza and pasta, coffee, bread (for toast) and fruit. It’s okay to have some time on the town with friends or loved ones. If there’s a way to bond without spending a lot of cash, so much the better. DISCLAIMER: This article is for informational purposes only and does not constitute official financial or health advice. Please practise responsible behaviour in a public setting.