Author name: 2 Ezi

Investing in the Australian share market can build wealth. This guide covers mechanics, budgeting, and share selection. Investing in the Australian share market can be a powerful strategy for building long-term wealth. The Australian Securities Exchange (ASX) offers numerous opportunities for individuals to grow their financial assets through shares. Going for shares may be a worthy investment – the ASX Investor Study 2023 noted that international issues such as the pandemic and cost of living have not dampened the thirst to buy shares. In this guide, we will delve into the mechanics of the share market in Australia, provide tips on budgeting for share investments, and offer insights on how to choose the right shares for your portfolio. The Share Market in Australia The Australian share market, often referred to as the ASX, is the platform where investors can buy and sell shares in publicly traded companies. They revolve around some cardinal elements  Shares and Ownership When you invest in shares, you are essentially buying ownership stakes in a company. The number of shares you own determines your ownership percentage in that company. As a shareholder, you may have the right to vote on certain company decisions during an annual general meeting and may be entitled to a portion of the company’s profits in the form of dividends. However, not all Australian companies will be open to stock investments and they can only go for an IPO if they submit a prospectus to ASIC.   Stock Exchanges The ASX is the primary stock exchange in Australia, where shares of thousands of companies are listed and traded. It provides a regulated marketplace for buyers and sellers to transact shares. Share Prices and Market Capitalisation The share market dynamics on supply and demand influence stock prices. When more investors want to buy a particular share than sell it, the share price tends to rise, and vice versa. The market capitalisation of a company is the total value of all its outstanding shares, calculated by multiplying the share price by the number of shares. Brokers and Trading To buy and sell shares on the ASX, you’ll need to use the services of a stockbroker or an online trading platform. Brokers act as intermediaries who execute your trades on your behalf. Online trading platforms have become increasingly popular due to their convenience and cost-effectiveness. Diversification One key strategy in share market investing is diversification, which involves spreading your investments across different companies and industries. Diversification can help mitigate risk by reducing your exposure to the performance of a single company or sector. Tips on Budgeting for Share Investments Investing in shares requires careful budgeting and financial planning. Here are some important tips to consider: Set Clear Investment Goals Before you start investing, define your financial objectives. Are you looking to generate income through dividends, achieve capital growth, or both? Answering that question and researching your prospect stocks will help determine your investment strategy. Create an Investment Budget Determine how much money you can comfortably allocate to share investments without affecting your day-to-day finances. It’s crucial to invest only what you can afford to lose, as share prices can fluctuate. Build an Emergency Fund Even when you are committed to buying a good deal of shares, it pays to have a hefty amount of money left over in your personal accounts for an emergency. Prioritise building an emergency fund with enough savings to cover three to six months’ worth of living expenses.   Pay Off High-Interest Debt Before investing, consider paying off high-interest debts like credit card balances. The interest on these debts can outweigh the returns from your investments. Consider Dollar-Cost Averaging Dollar-cost averaging (DCA) involves investing a fixed amount of money at regular intervals, regardless of share prices. Some observers state it can help reduce the impact of market volatility on your investments. Review and Adjust Your Budget Regularly review your budget and adjust it as needed. As your financial situation changes, you may be able to allocate more funds to share investments. How to Choose the Right Shares Selecting the right shares is critical to your investment success. Here’s a step-by-step guide on how to choose shares for your portfolio: Research and Education Begin by gaining a solid understanding of the share market and how it operates. Books, seminars, and notable financial news sources may bolster your knowledge. A financial advisor with expertise in the stock market can also guide you through its complexities, ensuring that investing in shares becomes a strong component of your financial strategy.  Define Your Investment Strategy Decide whether you want to focus on income-oriented shares (dividend stocks) or growth-oriented shares (stocks with potential for capital appreciation). Reconcile your decision with your current investment strategy. Analyse Companies When choosing shares, conduct thorough research on the companies you’re interested in. Look at their financial statements, earnings reports, and future growth prospects. Consider factors such as industry trends, competition, and market positioning. Note that in making your initial purchase for any shareholding, the ASX requires you have bought no less than $500 worth of shares. Diversify Your Portfolio A key point of investing in shares is to diversify your holdings. Diversification can help protect your portfolio from the poor performance of a single company or sector. For example, you might spend $1k to buy stock in anti-drone countermeasures company DroneShield and $1,600 in supermarket chain Coles.  Evaluate Financial Metrics Pay attention to financial metrics like price-to-earnings (P/E) ratio, earnings per share (EPS), and dividend yield. These metrics can provide insights into a company’s valuation and financial health. Stay Informed Keep abreast of market news and events that may impact your investments. Stay informed about the companies in your portfolio and be prepared to make adjustments if needed. Your stockbroker or financial adviser may guide you on which companies to watch. Conclusion Investing in the Aussie share market can be a rewarding journey towards long-term wealth accumulation. By understanding the mechanics of the share market, budgeting wisely for your investments, and following a

For Gen Z in Australia, understanding finances is challenging. This blog explains its importance and offers steps for financial security. In the fast-paced and ever-changing landscape of today’s world, financial literacy is crucial for every generation. However, for Generation Z in Australia, understanding personal finances and achieving financial security is becoming increasingly challenging. This blog aims to delve into the rationale for financial education among Gen Zs in Australia and provide actionable steps to help them embark on a secure financial track. Gen Z Financial Education Economic Uncertainty The current economic climate is characterised by uncertainty and volatility. Gen Zs are facing the consequences of global financial events, such as economic downturns, inflation, and rising living costs. Without a solid financial education, they may struggle to navigate these challenges effectively. To illustrate, a March 2023 report from Finder carried over the Australian Financial Review noted that the rise in cost of living tagged 56 per cent of Gen Z respondents as having been pressured to find a second job to have more money. A 21-year-old startup founder from Melbourne interviewed for the Fin was even forced to cancel two VOD subscriptions and stop UberEats deliveries to cover an $800 monthly rental on a Frankston house where he used to spend over $1k on a place in Ascot Vale.     Debt Burden Many Gen Zs are burdened with significant student loan debts, credit card debts, and other financial obligations. A November 2023 analysis from ASIC revealed that Gen Zers’ average personal debts were tagged at $8,188 against $6,730 for older demographics, four per cent of Australia’s Gen Z population are at least $50k in debt, and 25 per cent have savings accounts with no more than $1,000 in balances.  Longevity of Financial Decisions Gen Zs have a long future ahead of them. The financial decisions they make today can have far-reaching consequences on their financial health in the future. Proper financial education empowers them to make informed choices that will positively impact their lives in the long run. Shifting Landscape The financial landscape is continually evolving, with the rise of digital currencies, new investment opportunities, and alternative financial services. Gen Zs need to stay informed to make the most of these developments while avoiding potential pitfalls. Retirement Planning Despite being at the early stages of their careers, planning for retirement should not be overlooked by Gen Zs. Starting early and understanding the benefits of compounding can significantly improve their financial security in later years. One critical element of this is imparting the need for awareness of superannuation in Gen Zs. Data compiled by the Australian Retirement Trust revealed that 29 per cent of Gen Z respondents do not know the current SG rate, but another 47 per cent want to determine how they can contribute more to their supers.  In discussions with News Corp Australia’s Mary Madigan, Finder money expert Sarah Megginson said Gen Zers are not of the same financial mindset as their elders, preferring to look after their mental health instead of working harder to earn as much money as possible. Money Magazine’s Tom Watson looked over the results of Aware Super’s July 2023 study, which revealed that in the 16-34 age demographic, 31 per cent are looking to retire by the time they reach 55 years old and 29 per cent claim they can have a comfortable retirement at that age for under $500k. However, the Aware Super team estimates single people can possibly have a comfortable retirement by age 67 if their super finances are at least $545k. Entrepreneurial Opportunities Gen Zs are known for their entrepreneurial spirit. A sound financial education can help them manage finances in their business ventures, increasing the likelihood of success. Getting Gen Zs on a Secure Financial Track Financial Literacy Hardcoded into the Education System To ensure that financial education reaches every Gen Z individual, it is crucial to incorporate financial literacy programmes into the education system. These programmes should cover topics like budgeting, saving, investing, debt management, and understanding financial products. A Findex study from 2021 stated that 48 per cent of Australians between 15 to 25 years old admit they couldn’t remember much of whether their schools had any financial literacy subjects.  Interactive Workshops and Seminars Organising interactive workshops and seminars on financial literacy can engage Gen Zs and make learning about finances enjoyable. Local communities, educational institutions, and financial institutions can collaborate to host such events. Digital Tools Given Gen Z’s affinity for technology, using mobile apps and online platforms that offer financial education and budgeting tools can make a significant impact. These interactive tools can help them track expenses, set financial goals, and understand their financial health. Encouraging Parental Involvement Parents play a crucial role in shaping their children’s financial behaviours. Encouraging parents to talk openly about money matters with their children and lead by example will reinforce the importance of financial responsibility. The above Findex study stated that 71 per cent of Australians between 15 to 25 years old say they still consult their parents or guardians for financial advice.  Mentorship Programmes Establishing mentorship programmes connecting Gen Zs with financially savvy individuals can offer valuable guidance and support. Mentors can share their experiences, provide insights, and offer personalised advice to help Gen Zs make informed financial decisions. Gamification of Financial Learning Gamifying financial education can make the learning process enjoyable and effective. Developing financial literacy games or incorporating financial elements into popular games can boost engagement and knowledge retention. One example of a game that aims to teach about financial literacy is Celebrity Calamity; made by a non-profit organisation, the game puts players as business managers of a certain B-list celebrity. The objective is to rein in the person’s wanton spending while still keeping them satisfied and their career on track. Female testers claimed that upon running the game, between 15 to 30 per cent claimed more confidence with financial management.   Building Credit Awareness Gen Zs should be educated about the significance of building and maintaining a

Nudge theory can help manage finances by promoting physical fitness, revealing hidden financial benefits. When it comes to managing our finances, finding effective strategies to save money is a common goal. Surprisingly, one way to achieve financial savings is by focusing on physical fitness. By understanding the mechanics of nudge theory and its application to promoting a healthier lifestyle, we can uncover the hidden financial benefits. In this article, we will explore the concept of nudge theory, its relevance to physical fitness in Australia, and how it can positively impact your finances. What is Nudge Theory? Nudge theory is a concept popularised by Nobel laureates Richard H. Thaler and Cass R. Sunstein. It suggests that small changes in the decision-making environment, known as nudges, can influence people’s behaviour without imposing mandates or restrictions. Nudges aim to subtly guide individuals towards making desired choices that align with their long-term goals. Choice Architecture Choice architecture refers to the overall design of a decision-making process. Nudges leverage choice architecture to make certain options more prominent, attractive, or easier to choose. By modifying the environment in which choices are made, nudge theory can steer individuals towards more beneficial behaviours. Linking Physical Fitness with Financial Health Physical fitness plays a vital role in overall well-being, and the benefits extend beyond improved health. Adopting a fitness routine can increase productivity, boost energy levels, reduce healthcare costs, and enhance mental well-being. These advantages, in turn, positively impact financial health by reducing medical expenses and improving work performance. Embracing physical fitness helps individuals establish healthier habits and reduce the risk of chronic diseases. This can result in long-term financial savings by avoiding costly medical treatments, medications, and doctor visits. By focusing on preventive care, individuals can proactively invest in their health, reducing the financial burden associated with illness. Fitness Benefits of Nudge Theory Making Exercise More Accessible Applying nudge theory to physical fitness involves making exercise more accessible and convenient. Fitness nudges can include designing workplaces with standing desks or encouraging the use of stairs instead of lifts; this may even be true if your office is just on the second floor. By adjusting the choice architecture, individuals are more likely to incorporate physical activity into their daily routines, leading to improved fitness levels and potential financial savings in the long run. Gamification and Rewards Nudge theory can be leveraged to incorporate gamification elements and rewards into fitness activities. Fitness apps and wearable devices often use features like challenges, achievements, and progress tracking; the app may even be interlinked with the wearable device for more comprehensive fitness monitoring. One example of this is the Apple Watch synchronising with an iPhone’s Apple Fitness app or other third-party health apps to monitor food intake and exercise levels.  Those elements may prime individuals to engage in regular exercise, driven by the desire to achieve goals and earn rewards. This motivation contributes to improved physical fitness while simultaneously saving money by reducing the need for costly gym memberships or personal trainers. Healthy Eating Nudges Nudge theory can also be applied to encourage healthier eating habits. Choice architecture can be modified by placing healthier food options at eye level in grocery stores or installing portion control cues in restaurants. These nudges encourage individuals to make healthier food choices, resulting in improved nutrition and potential financial savings by reducing expenses on unhealthy processed foods or dining out. Financial Benefits of Nudge Theory Reduced Healthcare Costs Embracing physical fitness can lead to a decrease in healthcare costs over time. Proactive management of health through exercise and healthy eating can minimise the need for medical interventions, prescriptions, and hospital visits, thereby saving significant amounts of money in the long term. Enhanced Work Performance Regular exercise has been shown to improve concentration, productivity, and cognitive function. By incorporating physical fitness into your routine, you can experience increased mental clarity and focus, leading to enhanced work performance. This can open up opportunities for career advancement, salary increases, or even entrepreneurial ventures, ultimately improving your financial prospects. Insurance Premium Reductions Maintaining a healthy lifestyle through physical fitness may also lead to lower insurance premiums. Some insurance providers offer discounts or incentives for individuals who demonstrate healthy behaviours, such as regular exercise or non-smoking habits. By prioritising physical fitness, you can potentially save money on health, life, or disability insurance premiums. Applying Nudge Theory in Fitness and Finances Set Attainable Goals Start small by setting realistic fitness goals that align with your lifestyle and capabilities. This increases the likelihood of adherence and success, reinforcing positive behaviours and motivating you to continue on your fitness journey. Fitness Apps and Wearable Devices Take advantage of technology by using fitness apps and wearable devices to track your progress, set reminders, and receive personalised recommendations. These tools can provide the nudges necessary to stay motivated and engaged in your fitness routine. Create Accountability Establish accountability measures by sharing your fitness goals with friends, family, or joining fitness communities. Having a support system and regular check-ins can provide the necessary motivation and encouragement to stick to your fitness regimen. Gamify Your Fitness Routine Incorporate gamification elements into your workouts to make them more enjoyable. Set challenges, compete with friends, or earn rewards for reaching fitness milestones.  Certain fitness apps have a variety of challenges all their own to give added motivation. Apple Fitness’ monthly challenge badges, for example, require travelling a minimum set number of kilometres in a day or burning a specific amount of calories every day for 14 days. By making fitness fun and engaging, you are more likely to stay committed and reap the financial and health benefits. Optimise Nutrition Pair your physical fitness efforts with a healthy and balanced diet. Incorporate nudge theory principles into your eating habits by organising your pantry and refrigerator to prioritise nutritious options. Plan meals in advance and prepare healthy snacks to avoid impulse purchases or unhealthy food choices. Track Your Financial Progress As you prioritise physical fitness, also monitor the positive impact it has on

Courtship often involves gifts like flowers, yet some prefer alternatives. Discover personalised gift ideas for a unique courtship experience. Courtship is an essential part of dating, and giving thoughtful gifts is one way to show affection and appreciation for your potential partner. While flowers have long been a traditional courtship gift, some individuals may not find them appealing or might prefer more personalised presents. In this blog post, we will explore alternative gift ideas based on the subject’s interests, ensuring a meaningful and unique courtship experience. The Appeal of Personalisation When choosing a courtship gift, personalisation is key. While flowers are beautiful, they may not reflect the unique tastes and preferences of your partner. Opting for unique gifts such as custom-made jewellery, engraved items, or a bespoke gift based on their interests, shows that you put thought into selecting a present that truly resonates with them. If your love interest, for example, is an athletic type with a noted attachment to Australian rugby union games, you might consider getting them a jersey of their favourite XV or the Wallabies, with options to personalise by jersey number and their name. Environmental Consciousness For many people, the environmental impact of cut flowers can be a concern. Large-scale flower production often involves harmful pesticides and significant water usage. Choosing alternative gifts that align with your partner’s eco-friendly values, such as a potted plant, sustainable fashion items, or a membership to an environmental organisation, can be a more considerate gesture. If you are considering enrolling your partner in an environmental organisation, make sure that group offers values that truly speak to their heart; some people might not accept the membership and actually break it off. Allergies and Sensitivities Flowers, though lovely, can trigger allergies and sensitivities in some individuals. To avoid potential discomfort, consider alternative gift ideas that do not involve allergens. This may include items like scented candles, gourmet food baskets, or a spa day experience tailored to your partner’s preferences. Supporting Local Artists and Artisans Choosing unique, handcrafted gifts not only adds a personal touch but also supports local artists and artisans. Consider gifting a one-of-a-kind piece of artwork, handmade pottery, or artisanal jewellery. These gifts not only showcase your thoughtfulness but also contribute to the local creative community. Practical and Useful Presents Instead of giving gifts that are solely ornamental, consider selecting practical and useful items that your partner may need or enjoy in their daily life. This could be a high-quality cooking utensil for a food enthusiast, a premium notebook for a writer, or an electronic device for a tech-savvy individual. One of our 2 Ezi members, though, had a unique practical gift idea for a young woman they were interested in. The person learned from their love interest that the latter was a devoted fan of the popular The Last of Us action-adventure game franchise and was the sporty, outdoors type. He endeavoured to order her a special Pendleton camping throw blanket with the associated branding for The Last of Us Part II, which turned out to be the very last in stock at the Sony PlayStation Gear store and also something she has never heard of. While Sony only ships game merchandise to the continental US and Canada, the member arranged for a friend flying back to Australia from the US to accept the shipment first and bring it home with him. Shared Experiences Courtship is an excellent time to create lasting memories together. Consider giving the gift of a shared experience, such as tickets to a concert, a cooking class, or a weekend getaway to a place your partner has always wanted to visit. Shared experiences strengthen the bond between two people and create stories to cherish for a lifetime. Books and Literature If your partner is an avid reader or has a particular interest in literature, books can make excellent gifts. Select a book that aligns with their taste or a rare edition of their favourite author’s work. Books not only show that you value their interests but also provide opportunities for intellectual discussions and shared reading experiences. Personal Development and Hobbies Gifts that support personal growth or hobbies can be deeply appreciated. Consider enrolling your partner in a workshop or class related to their interests, such as painting, photography, or yoga. Supporting their passion shows that you care about their personal development and well-being. Subscription Services Subscription services can be a delightful ongoing gift. Depending on your partner’s interests, you can choose from a wide range of options, such as a SVOD streaming service for movie lovers, a beauty box for skincare enthusiasts, or a meal kit for couples such as the team at the Pepper Leaf. Subscriptions offer a continuous reminder of your thoughtfulness throughout the courtship. Handwritten Letters or Journals In the age of digital communication, a handwritten letter or a journal can be a heartfelt and meaningful gift. Pour your thoughts and emotions onto paper, expressing your feelings and aspirations for the relationship. Handwritten gifts showcase sincerity and effort, making them memorable tokens of courtship. Conclusion While flowers have been a classic courtship gift, there are many valid reasons to explore alternative gift ideas during dating. Personalisation, environmental consciousness, allergies, and the desire to support local artists are all factors to consider. By selecting gifts based on your partner’s interests, you show that you genuinely value their uniqueness and are willing to put thought into your courtship gestures. Alternative gift ideas offer a more meaningful and enjoyable courtship experience, setting the stage for a lasting and fulfilling relationship. DISCLAIMER:  This article is for informational purposes only. 2 Ezi has no working relationships with any vendor offering the above products or services mentioned in this article.

In estate planning, it’s vital to address digital assets. Learn to itemise them in your will for a comprehensive digital legacy. People’s lives are increasingly intertwined with technology. From social media profiles to cryptocurrency holdings, our digital footprint is expanding rapidly. As such, it’s becoming crucial to consider these digital assets in our estate planning. This article will cover the importance of accounting for digital assets in your will, how to properly itemise them, and why they are an integral part of your digital legacy, with a focus on estate planning in Australia. Evolution of Estate Planning Estate planning, once a relatively straightforward process, has evolved significantly over the years. Traditionally, it involved tangible assets like property, cash, and personal belongings. However, the rapid advancement of technology has given rise to a new category of assets: digital assets. Digital assets include but are not limited to the following. Social Media Accounts Your Facebook, Twitter, and Instagram profiles, among others, hold not just memories but also potential financial value through sponsored content or followers, if those websites engaged you as a partner account. Online Banking and Investments Access to online bank accounts, investment portfolios, and cryptocurrency holdings will be critical to ensure a beneficiary can still make use of them after you pass away. An estate solicitor may advise you that if the bank accounts are to be accounted for in your assets, you must ensure to cover the money within as some may ask that even if the account exists, it can raise questions to whether there’s still money in there or it may have been cleaned out.  Digital Media E-books, music libraries, and movie collections stored in digital format. This is important considering recent trends in pop culture content have shifted from producing them for physical media to digital.   Email Accounts Important correspondence, financial statements, and even subscriptions tied to your email addresses. Preserving access and the materials in the emails are very critical in light of deletion protocols by Yahoo! and Google due to long periods of inactivity in the emails – Google in particular, started closing Google Accounts inactive for over two years on 1 December 2023.  For example, one user who has operated a special email address for personal projects, which he logged in a few weeks ago after so many years. After verification, he discovered that the email provider shut down their address in the interim – wiping out correspondences and notifications dating back over 20 years.   Websites and Domains Ownership and management of websites, blogs, and domain names. It is possible that their providers will close down the sites due to nonpayment of hosting costs. Cryptocurrencies Bitcoin, Ethereum, and other cryptocurrencies stored in digital wallets are marked by the ATO for Capital Gains Tax (CGT). Depending on the disposition, appointed estate executors may be asked to have those assets sold off and converted into Australian dollars.  Digital Businesses If you own or have equity in a digital business, ensuring its continuity is vital. Preserving Your Digital Legacy With this ever-expanding list of digital assets, the need to account for them in your estate planning becomes evident. Here’s why: Monetary Value Many digital assets have tangible monetary value. Cryptocurrencies, for instance, can amount to substantial wealth. Your will can ensure that these assets are inherited by your chosen beneficiaries. Privacy Concerns Failing to plan for your digital assets can trigger privacy concerns. Unauthorised access to your emails, social media profiles, or personal files could have unintended consequences. Asset Management If you own digital businesses, websites, or domains, a well-thought-out plan in your will can help manage their transfer or continuation seamlessly.  Emotional Value Your digital assets might hold sentimental value for your loved ones. Family photos, personal blogs, or cherished playlists can be a source of comfort after you’re gone. Social media providers such as Facebook have prepared for this contingency by allowing users to nominate legacy contacts and have their own profiles be converted into a Memorial page when they pass away. Creating a Digital Asset Inventory Now that we understand the importance of including digital assets in estate planning, let’s discuss how to properly itemise them. This process involves creating a digital asset inventory, which can be divided into three key steps: Identify Your Digital Assets Starting assembling a comprehensive list of all your digital assets. This may require thorough exploration of your online presence. Start with the following: Access and Authentication For each digital asset, record the necessary access and authentication details. These should include: Document Your Wishes Clearly articulate your wishes for each digital asset. This should involve specifying who should inherit or manage these assets and any particular instructions or restrictions. Updating Your Will Creating a will requires periodic updates – as your digital footprint evolves, so should your will. Review your digital asset inventory and make necessary changes whenever you open new accounts, change passwords, or acquire new assets. In some cases where there are assets that only you have access to, they may need safeguards on who can access be passed down to after death. This was made evident when QuadrigaCX owner Gerald Cotten passed away unexpectedly in early 2018, but only he knew the access codes to the crypto exchange’s crypto vaults worth an estimated US$135m at a time when the company had some stock fluctuations and filed for bankruptcy. Estate administrators EY were able to recover US$34.2m in assets and prepare distribution of funds to beleaguered investors. Estate planning can be complex, especially when digital assets are involved. Australia’s inheritance laws, at present, do not have provisions for digital asset accounting, and only the NSW Law Reform Commission’s digital access scheme discussion paper from December 2019 has been the farthest of any thoughts on the matter.   It’s advisable to consult with Australian estate solicitors who are well-versed in digital estate planning laws and regulations. They can provide valuable insights and ensure your will complies with legal requirements, especially since those digital assets will also still be

Sending money overseas has become increasingly convenient and accessible, thanks to digital advancements in financial transactions. However, it’s crucial to exercise due diligence and adopt proper strategies to ensure the security and reliability of these transactions. In this blog post, we will explore these most important tips and strategies to consider before sending money to a contact abroad, safeguarding your funds and protecting against potential risks such as cybercrime and fraud. The Big Picture A study released in Research and Markets revealed that Australia’s international outbound remittance businesses posted a 24 per cent growth to be valued at US$6.34 billion in 2023. The inbound remittances were estimated at $1.29 billion, a 14.3 per cent increase. Such a large amount may be partly attributed to expatriates in Australia sending money to loved ones back home, especially those who may have had some financial problems as a result of the COVID19 pandemic. Some international remittance providers are also taking advantage of that growth to establish operations in Australia by expanding services Down Under, as in the case of the Nepalese company Hamro Patro. Others are partnering with Aussie firms, such as the Indonesian remittance firm Faspay landing a service deal with EzyRemit. Research and Verify the Recipient Before sending money overseas, conduct thorough research on the recipient. Verify their identity and ensure they are a trusted and legitimate contact. Take the time to confirm their contact information, such as their full name, address, and bank account details. This step will help minimise the risk of sending funds to the wrong person or falling victim to scams. Use Reputable Money Transfer Services Choose reputable and well-established money transfer services to send funds overseas; they are identifiable via customer reviews and its protective measures. Opt for services that offer robust encryption protocols and multi-factor authentication to protect your financial information. As an added backstop, Forbes Australia recommends cross checking your preferred money-transfer provider for credentials with ASIC and AFCA, including a verifiable Australian Financial Services Licence and ABN number.  Be Wary of Unsolicited Requests Exercise caution when receiving unsolicited requests for money from unknown individuals or organisations. Be sceptical of requests that involve urgent or emotional situations, as these are often tactics used by scammers. Verify the legitimacy of the request through independent channels before proceeding with any transaction. Check Exchange Rates and Fees Compare exchange rates and transaction fees across different money transfer providers, as they may affect the amount the recipient got. Consider using online platforms that offer transparent and competitive rates, ensuring your funds go further. In a related tangent, check if your remittance provider has scrapped their money transfer fees. CBA made that leap in June 2023, waiving its $6 transfer charge to Transaction Account and Foreign Currency Account holders sending money through NetBank, the CBA app or CommBiz.   Take Cyber Security Precautions When conducting digital transactions, implement cybersecurity measures to protect your financial information. Use secure and private networks, avoid conducting transactions on public Wi-Fi, and regularly update your device’s software and antivirus programs. Be cautious of phishing attempts and suspicious emails or messages requesting personal or financial information. Consider Transaction Limits and Regulations Familiarise yourself with any transaction limits or regulations imposed in Australia and the recipient’s country. Some countries have specific restrictions or reporting requirements for large transfers. Understanding these regulations will ensure compliance and prevent any delays or complications during the transaction. The limits may be specified in a transaction breakdown or the terms of service; read them well and seek clarification if needed.  Opt for Traceable Transactions Choose traceable transaction methods, such as wire transfers or digital payment platforms, that provide a paper trail. Avoid sending funds through untraceable methods like cash or money orders, as they offer less protection and make it challenging to track the funds in case of issues or disputes.  Double-Check Account Details Before initiating any transfer, double-check the recipient’s account details. Mistakenly entering incorrect account numbers or other details can result in funds being sent to the wrong recipient. Verify the accuracy of the information with the recipient directly or through reliable channels. Inform the Recipient Communicate with the recipient before sending funds to ensure they are aware of the transfer. Provide them with the necessary details, such as the expected amount, currency, and anticipated arrival date. This open communication helps avoid misunderstandings and ensures the recipient is prepared to receive the funds. Keep Records and Confirmations Maintain a comprehensive record of all transaction details, including receipts, confirmation numbers, and any communication related to the transfer. These records will serve as proof in case of any discrepancies or issues that may arise during or after the transaction. Doing your Part The above tips may possibly save your financial assets from exploitation by criminals. In March 2023, the Australian Federal Police launched TASKFORCE AVARUS, a joint initiative with AUSTRAC, the Australian Criminal Intelligence Commission, and the Australian Border Force to stop money laundering activities in Australia’s financial and property markets. The group is looking to shut down various existing methods to transfer illicit cash while taking down suspected depositories of money stashes.   Prior to the establishment of AVARUS, money remittances out of Australia have been challenging to pin down for any suspicious transactions, even at bank level. The danger attracted AUSTRAC scrutiny in late 2019 when it flagged Westpac Bank’s WestpacLite service for facilitating payments of 12 customers totalling close to $500k to finance paedophilia activities in the Philippines. The service was set up in 2016 through local bank partner BPI to help Filipino-Australian expatriates send money back home to loved ones in the Philippines. BPI scrapped the partnership, which also brought about Brian Hartzer’s resignation as Westpac CEO. Conclusion Sending money overseas requires careful consideration and the implementation of proper strategies to safeguard your funds and protect against potential risks. The above bits of advice may spell the difference between a successful remittance and a nasty pilferage of your hard-earned money.  DISCLAIMER:  This article is for informational purposes only and

Celebrate your birthday with freebies! In Australia, businesses offer treats to make your day special. Discover how to snag these perks effortlessly. Birthdays are meant to welcome another year of life and build cherished memories with loved ones. While treating others is a wonderful tradition, there’s something equally delightful about being treated on your birthday. In Australia, many businesses offer birthday treats, discounts, or perks to help you make your day even more special. In this guide, we’ll explore the reasons people desire birthday incentives and why merchants offer them. We will also provide ten tips for birthday celebrants in Australia to land those coveted birthday freebies. Craving Birthday Freebies Birthdays are a celebration of life milestones. They mark another year of experiences, lessons, and growth. Receiving special treats on your birthday is a way of acknowledging and celebrating these achievements. Birthday treats and freebies create memorable experiences. Whether it’s a complimentary dessert at your favourite restaurant or a free massage at a spa, these gestures make your day memorable and unique. Birthday perks make individuals feel valued and appreciated. Businesses that offer birthday freebies are telling their customers that they matter and that their loyalty is recognised and rewarded. Birthdays often come with expenses, from parties to gifts. Birthday treats can help alleviate some of this financial stress, allowing individuals to enjoy their day without worrying about breaking the bank. On your birthday, you deserve to be happy. Birthday treats bring joy and happiness, not only to the recipient but also to those celebrating with you. It’s a simple but effective way to spread happiness. Merchants Offering Birthday Freebies Businesses understand the value of loyal customers. Offering birthday treats is a way to strengthen customer loyalty and keep patrons coming back. Happy customers are more likely to share their positive experiences with friends and family. When a business provides a memorable birthday treat, it generates positive word-of-mouth marketing, which can attract new customers. Many businesses require customers to sign up for loyalty programmes or newsletters to receive birthday freebies. This allows them to collect valuable customer data for marketing purposes while following privacy regulations. While offering a freebie, businesses also have the opportunity to upsell other products or services. For example, a spa might offer a free massage and then suggest add-on treatments at a discounted price. Businesses aim to satisfy their customers with a positive experience. Birthday treats enhance the customer experience, making individuals feel appreciated and valued. Now that we understand why people desire birthday treats and why businesses offer them, let’s explore ten tips for landing those delightful birthday freebies. Get the Best Freebies on Your Birthday It’s one thing to have something free for yourself on your birthday, but actually getting those freebies is another. Here are a few ways to possibly land them:  Sign Up for Loyalty Programmes Many businesses require you to join their loyalty programmes or newsletters to receive birthday perks. Register for these programmes well in advance of your birthday to ensure you’re on their list. When signing up for the programmes, make sure your personal information, especially your birthdate, is accurate. Businesses often verify this information before granting birthday freebies. Research Local Offers Do some research to discover which local businesses offer birthday treats or discounts. Check websites, social media pages, and apps like 2Ezi to find the latest offers. In the case of social media pages, business accounts announce their birthday offers on their feeds. Check Your Email Keep an eye on your email inbox as your birthday approaches. Many businesses send birthday coupons or offers directly to your email address. Visit Restaurant Chains Chain restaurants in Australia are known for offering birthday freebies. These can range from free meals to desserts. Check with your local branches for specific offers, which will have special terms and conditions to activate properly. For example, your favourite buffet joint has a birthday treat where the celebrant, upon verification of their identity, can score a free buffet, provided they bring in an entourage of four paying guests. Visit Retail Stores Some retail stores may offer birthday discounts or gift cards to their loyal customers. Visit your favourite stores or their websites to see if they have such offers. Plan Ahead Many businesses require you to redeem your birthday freebies within a certain timeframe, often the month of your birthday. Plan your outings accordingly to make the most of these offers. Spread the Joy Share your birthday treats with friends or family. Some businesses offer group deals or additional discounts when you celebrate with others. Conclusion Everyone deserves to be treated on their birthday, and in Australia, there are numerous opportunities to enjoy special perks, discounts, and freebies. Understanding why birthday treats are so desirable and why businesses offer them can help you navigate the world of birthday freebies more effectively. By following the above tips, you can increase your chances of landing those coveted birthday freebies and making your special day even more memorable. So, don’t hesitate to sign up for loyalty programmes, research local offers, and explore all the possibilities for celebrating your birthday with style and savings. After all, your birthday is a day to cherish, and these treats are a delightful way to celebrate life’s milestones while spreading joy and happiness. DISCLAIMER:  This article is for informational purposes only. 2 Ezi have no relationships with any company mentioned nor endorse any incentives.

In an increasingly dynamic economy, many individuals find themselves considering the option of taking on a second job or side hustle to supplement their income and achieve greater financial stability. While the decision to pursue a second job should not be taken lightly, it can provide a viable solution for various financial goals. Why Get A Second Job? Let’s explore the rationale for taking on a second job, and provide tips on how people can mentally prepare themselves and balance the demands of multiple jobs while still focusing on their primary work. Financial Security and Stability One of the most common reasons for seeking a second job is to improve financial security. Rising living costs, debts, and unforeseen expenses can place a strain on finances, making additional income essential to meet basic needs and build a safety net. The Labour Account Australia multiple job-holders report for September 2023 recorded 955,600 people taking on at least one job, or 6.6 per cent of employed people in Australia. The number is a slight dip from the 962,900 recorded for June 2023 at 6.7 per cent. The ABS said recent RBA interest hikes and higher mortgage interest have affected the cost-of-living, forcing people to consider applying for side jobs.   Paying Off Debt Taking on a second job can expedite the process of paying off debts, such as student loans, credit card bills, or mortgages. The extra income can be directed towards clearing outstanding balances and reducing interest payments. However, it’s important to consider the tax implications of a second job. The Australian Taxation Office (ATO) has a tax-free threshold of the first $18,200 you earn in every fiscal year, but you must claim it through your primary employer. Building Savings and Investments For those aspiring to create wealth and financial independence, a second job can facilitate regular savings and investments. The additional income can be channelled towards building an emergency fund or contributing to long-term investment portfolios. Pursuing Personal Goals A second job may be taken on to fund personal passions, such as travelling, starting a business, or pursuing further education. This additional income can turn aspirations into reality without straining the individual’s primary finances. Career Development In some cases, individuals take on a second job to gain experience in a different field or to advance their career prospects. The extra job can provide valuable skills and networks that complement their primary profession. Writing for HR Leader, ASPL Group CEO Kris Grant said more casual job opportunities are emerging, with sectors such as hospitality and tourism needing all the casual help they can get. Focus on the Day Job, Prepare for a Second Job While an extra job may be a chance to increase your income flow, there’s much homework to be done before you can take it on Assess Personal Commitments Before committing to a second job, assess your existing responsibilities and commitments. Consider family time, social activities, and personal well-being to ensure you have enough time and energy to manage additional work. Seek a Flexible Second Job Opt for a second job that offers flexibility in terms of working hours and location. This will allow you to better balance both jobs and reduce the risk of burnout. One person interviewed for the Sydney Morning Herald, speech pathologist and The Balance Theory author Natasha Piccolo said she and her husband were forced to take extra work to cover their housing and parental expenses. In addition to her practice, she also runs a gelato-based catering business.   Plan a Realistic Schedule Create a well-structured schedule that accommodates both your primary job and second job. Allocate time for rest, relaxation, and quality time with loved ones to maintain a healthy work-life balance. Time Management Efficient time management is crucial when juggling multiple jobs. Use tools like calendars, to-do lists, and productivity apps to stay organised and focused on tasks. Communicate with Employers If you are considering a second job while employed, ensure you are familiar with your current employer’s policies regarding moonlighting or engaging in a side hustle. You need to discuss your intentions openly and transparently. As an added measure, you must commit to NOT taking any calls from side job clients during your official business hours, to avoid potential disciplinary action from HR, and make sure that the entity you took up a second job for is not a competitor or a company client. Grant said that HR departments may need to watch out for more employees taking on side jobs and closely monitor their performance. Maintain Mental and Physical Health Taking on a second job can be mentally and physically demanding. Prioritise self-care, engage in regular exercise, and get enough sleep to stay energised and focused. Be Realistic About Expectations Set realistic expectations for yourself and the income you expect to earn from the second job. Avoid overextending yourself, as burnout can hinder productivity in both jobs. Build a Support Network Lean on friends and family for support during this period. Having a strong support network can ease the stress of managing multiple job responsibilities. Conclusion Taking on a second job or side hustle can be a practical solution to achieve financial goals, pay off debt, and pursue personal aspirations. However, careful consideration and preparation are necessary to ensure that you maintain a balanced and manageable workload. With a well-planned approach, individuals can navigate the challenges of working multiple jobs and achieve their financial objectives with confidence. DISCLAIMER:  This article is for informational purposes only and does not constitute official career advice. 2 Ezi has no relationships with any company or organisation mentioned. Please consult a career counsellor and your employer’s HR department.

In today’s competitive job market in Australia, landing your dream job requires more than just a well-crafted resume and cover letter. To stand out among the sea of applicants, jobseekers must continuously work on improving their skillset and staying up-to-date with industry trends. This blog will delve into the essential tasks and skills needed for jobseekers to be more considered for their dream job. Identify Your Dream Job and Industry Trends Being able to prepare well for landing an ideal job is critical given the current employment situation in Australia. According to the ABS, the jobless rate in Australia reached 3.9 per cent in the last two months of 2023, resulting in the loss of at least 65,000 jobs by year-end. The first step towards landing your dream job is to clearly identify what it is you aspire to do. Conduct thorough research on your desired industry, job roles, and the skills in demand. Stay updated with industry trends, emerging technologies, and market needs. Having a deep understanding of your chosen field will not only help you tailor your skillset but also demonstrate your genuine interest and commitment during job interviews. The need to understand and roll with industry trends has taken on added importance in recent years. The University of Melbourne’s “Work Futures Hallmark Research Initiative” revealed in its State of the Future of Work report that one in five Australian workers treaded carefully in adopting new technology and work processes even if they believe that it will improve their output. One-third of workers between 25 to 55 years old even considered resigning because of sheer exhaustion, especially during the pandemic. Upskill and Acquire Marketable Skills Once you have identified your dream job, assess your current skill set and identify areas that need improvement. Upskilling is a critical step in staying relevant and marketable. Take advantage of online courses, workshops, and certifications that align with your career goals. Develop expertise in areas that are in demand within your industry. For instance, if you are in the tech industry, consider learning programming languages or data analysis tools. Continuous learning showcases your dedication and adaptability, making you a desirable candidate for your dream job. Seek Career Counseling and Guidance Career counselling and guidance can be immensely valuable in helping you navigate your career path. Professional career counsellors can provide insights into the job market, suggest suitable career tracks, and offer personalised advice based on your strengths and interests. They can also assist you in setting achievable career goals and creating a well-structured plan to reach them. Craft an Impressive Resume and Cover Letter Potential employers can have first impressions on an applicant who furnishes a resume and cover letter. Tailor these documents to showcase your skills, experiences, and accomplishments relevant to the job you are applying for. Emphasise your achievements and how they align with the requirements of the dream job. Network and Build Professional Relationships Networking is a powerful tool for jobseekers. Attend industry events, conferences, and job fairs to connect with professionals in your field. Use online platforms such as LinkedIn to build and expand your professional network. Engaging in meaningful conversations and showcasing your expertise can open doors to job opportunities and referrals. Mastering Job Interview Techniques Job interviews can be nerve-wracking, but with adequate preparation, you can excel in them. Research commonly asked interview questions and practise your responses. Showcase your skills and experiences with confidence, and emphasise how you can add value to the organisation. Demonstrate your enthusiasm for the industry and the company, as employers value candidates who are genuinely passionate about their work. As a courtesy, Kris Grant of Money Magazine said you can follow up by sending the interviewer or recruitment professional a thank-you note, showing your appreciation for the interview opportunity and asking if they have further questions.   Display Soft Skills In addition to technical skills, employers also place great importance on soft skills. Communication, teamwork, problem-solving, adaptability, and leadership are all essential attributes in the workplace. Showcase these skills through real-life examples during the interview process and in your interactions with potential employers. Improved communication skills, in particular, may spell the difference between being accepted as an equal partner in the workplace or ending up all but a pariah. The team at Skills Australia stressed that working on your communication skills, from spoken or verbal business language, hand gestures, movement, to eye contact, can work a long way to building rapport and teamwork with your prospective colleagues.   Internships and Volunteer Opportunities If you are transitioning into a new industry or lacking experience in your desired field, consider internships or volunteer opportunities. These experiences not only provide valuable exposure but also allow you to demonstrate your dedication and willingness to learn. Many organisations appreciate candidates who have taken the initiative to gain hands-on experience. Personal Branding and Online Presence Maintain a strong personal brand and online presence. Craft a polished LinkedIn profile and consistently enhance it with your accomplishments, expertise, and career milestones. Delve into creating insightful blog posts or contributing to reputable industry platforms to solidify your reputation as a thought leader in your respective domain. A positive and consistent online presence can leave a lasting impression on potential employers. Persistence and Resilience Landing your ideal job often takes time and effort. Job searching is a demanding journey that requires patience and perseverance. Maintain resilience and persistence, especially amidst setbacks. Embrace each interview as an opportunity for growth and refinement. With unwavering determination, the perfect opportunity will eventually present itself. Conclusion Securing your dream job in the Australian job market requires dedication, continuous improvement, and a strategic approach. Identifying your aspirations, upskilling, seeking career counselling, and building a strong online presence are all vital steps in standing out among other applicants.  Remember that career success is a journey, and persistence, coupled with an evolving skillset, will eventually lead you to your dream job. So, keep improving, stay positive, and never stop pursuing your goals. DISCLAIMER:  This article is for informational purposes

Australia is a land of diverse landscapes, unique wildlife, and a rich cultural tapestry. It’s also known for its stringent import regulations. While Aussies love to explore the world and bring home souvenirs from their travels (which may even be true of people travelling outside Australia for the first time), there are several products that you may not be able to bring back to the land Down Under due to strict biosecurity and customs controls. In this blog, let’s cover the reasons why Australians may face restrictions on what they can import and highlight some general product categories that could raise red flags at customs, excluding banned substances. Import Controls  Australia’s unique environment and biodiversity are vulnerable to threats posed by exotic pests, diseases, and contaminants. To safeguard the country’s natural assets, the Australian Border Force (ABF) and the Department of Agriculture, Fisheries and Forestry (DAFF) enforce stringent import controls. These controls aim to prevent the introduction of harmful organisms and hazardous materials that could jeopardise agriculture, public health, and the environment. In a certain perspective, some people might have a little souvenir awareness through Seven’s Border Security: Australia’s Front Line TV show, where in many episodes, some passenger arrivals in Australia have their baggage searched by ABF officers to varying degrees of success. Restricted Products Let’s dissect the following product categories that might not be allowed to be brought into Australia, which may come to light when listed on your Incoming Passenger Card. In many cases, seized goods will be destroyed under controlled conditions. Fresh Fruits and Vegetables Australia has strict regulations on fresh produce to protect against potential pests and diseases. Bringing fruits, vegetables, or plants from overseas may require permits and inspections; as such, any food items should be declared. Meat and Dairy Products Imported meat and dairy products can carry diseases that can harm Australia’s livestock and dairy industries. Such items are typically subject to tight restrictions, but there are some caveats – dairy products like cheese, butter, and milk must have come from a country listed free of FMD and are still sealed in their commercial packaging, and only for personal consumption. As for stored breastmilk, it must be in cold-storage containers and is meant for infants cared for by the person carrying the shipment – such as a mother travelling with her baby. The FMD protocol also applies for meat products whether or not they are under the BICON (Biosecurity Import Conditions) list. Seeds and Plants Bringing in seeds, plants, or soil can introduce new species that may outcompete native flora or harbour pests. Special permits issued by the DAFF may be required for these items alongside a phytosanitary certificate from the exporting country, assuring the item is free of Trogoderma. Live Animals and Pets Importing live animals, including pets, can be complex and may require quarantine periods mandated by the Australian Quarantine and Inspection Service to ensure they are free from diseases. The DAFF also has a category listing of countries from which an import permit to Australia is required, including those declared rabies-free. However, some specific dog and cat breeds are not allowed to be brought in Australia due to being threats of invasive species. For example, the Japanese Tosa’s stocky build as a dog fighter breed makes for a massive threat on the street and the American pitbull terrier has long been banned due to being a culprit in over 10.3 per cent of tallied dog attacks in NSW alone, per a Sydney Children’s Hospital study from Q1 2022. Any offspring that are mixed-lineage with the banned breeds will not be allowed as well. Recently, Government Services/NDIS Minister Bill Shorten urged for the government to update banned dog breeds list to include Rottweilers in light of a mauling in Perth where a woman was savaged by her own pet Rottweilers – but not all Aussie Rottweiler owners and animal rights advocates are sold on his appeal. Wooden Items Wooden products like furniture and souvenirs can harbour wood-boring insects and will be evident when they show signs of bark or unnatural holes. These items are often subject to strict treatment and inspection requirements under BICON. Leather and Animal Products Products made from animal hides, such as fur or leather, may raise concerns about diseases and ethical sourcing, especially since some leather goods imported into Australia are from countries with allegedly ineffective animal welfare laws. The Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) governs the importation of animal by-products into signatory states like Australia. Biological Samples and Research Specimens Scientists and researchers importing biological samples or specimens must adhere to strict protocols to prevent the introduction of pathogens and pests. The importing process will require clearance from DAFF and the Australian Nuclear Science and Technology Organisation. Medications and Pharmaceuticals Even over-the-counter medications can be subject to scrutiny. Australians should ensure they are carrying a personal supply and have the necessary documentation for prescription medications, particularly English-language papers by licensed practitioners in countries where English is a second language. Exercise caution as well if you bought a small stock of OTC medicines in countries that already have high pharmaceutical industry standards. A crosscheck of BICON before flying to Australia may help identify whether your medicines are cleared, including those with plant-based ingredients. Weapons and Firearms Importing weapons, firearms, and related items is tightly regulated for obvious safety and security reasons. There’s also the possibility that the customs authorities at your port of embarkation might flag and confiscate them before you get on the plane. The Department of Home Affairs also prohibits the importation or carriage of non-weapon items but still have sharp edges, including ski poles. Some may ask if the weapons import ban also applies to airsoft weapons. The team at advocacy group Airsoft Australia states that due to their realistic appearance, they are not allowed for sale across the country. NT, however, allows for ownership, provided the owner has the appropriate firearms licence and importing them