For those that want to have a quick look at what is in money100. This provides a look at some of our articles. We have taken parts from some to show you.

Latte Factor

We may not like to admit it, but we all spend small amounts of money every day and never think of what it adds up to. These small amounts we call the latte factor.

The key to the latte factor is that so many people waste large amounts of money on small things. If you have completed the cash diary correctly, included everything you spent for at least a month and not changed your spending habits to make the diary look better than it should be you will see the latte factor.

The trick to getting ahead financially isn't being cheap and boring. It's watching the small stuff.

Automatic Budget

This is another type of budget that my family has been using for over 10 years and it has worked for us.

It is still a budget, however takes minimal effort once set up. It can be reviewed on a regular basis and in fact should be reviewed whenever there is a change to an area of income or expense. This could be:

-  A pay rise

-  Repaying a loan

Unlike traditional budgets where you are expected to record everything you spend and monitor the spending for each area. The automatic budget works in reverse. From your cash diary you have hopefully found many small items that add up that you feel you can comfortably do without. The key now is to nominate a percentage of your net income that will either be used for extra debt reduction or saving. We suggest you start with 10% of your net income. The rest is to go towards bills/expenses and play money.

Warning signs of borrowing and poor money management.

1. Regularly spending beyond your budget.
2. Living from pay packet to pay packet.
3. Having to borrow money from friends and family.
4. Being unable to meet large, one off expenses like car repairs.
5. Making only the minimum repayments on your credit card each month.
6. Using debt to repay debt - for example, using one credit card to repay another.
7. Being constantly at or near your credit card limit.
8. Getting late payment notices for bills. (Do you open your mail?)

Debtonator

You might say we have tried in the past but always come unstuck. There is no quick solution but there is a way to make it easier. The Debtonator is money100's system to take control of your borrowings.

It works by inputting all your loans & credit card details into the Debtonator spreadsheet. Have a look at the example spreadsheet to the left. Then go to the spreadsheet section and key in your own Debtonator.

The plan is to commit all your  energy into the debt with the lowest pay off ratio.

Debt Program

A key element of this program is the acceptance of a debting problem. For those of you who admit to it remember it isn't plain sailing and sometimes you may lose your way. Don't give up and consider yourself a failure. Remember the successes and get back into this program.

The most important part of the whole program I believe is the following statement:

Just for today, one day, do not incur any new debt.

That is it. Is that all you might ask? Yes!

But what about tomorrow, or the rent that is due next week or _________?

Pay Yourself First

Credit Card Facts

Did you know there are now over 10 million credit cards in Australia?    

Credit card debt in Australia now tops $37 billion. Average credit card limits have almost doubled in 5 years to $6,400.   

Extreme cases of credit card debt is leading to more than 4000 people being declared bankrupt every year. Half of them are under 35 years of age.   

Houses - Introduction

There seems no reason to have an all in one money site, if the largest purchase of our lives was left out! Property and not just the one we live in can be an excellent investment. With this in mind we are providing information on the areas of property that everyday Australians are involved in.

We cover the process of buying and selling, organising finance in a step by step guide so that you are aware of what process the Banks and your Solicitor go through. We go through the types of home loans and how to pay them off faster.

Our focus then narrows to investing in residential properties. We cover areas like rent or buy, what to look for in a rental property, as well as non tax things to consider on investment properties.

Cars - New

A simple self defence strategy to use when buying a car is as follows:

Use the internet to know values of your current car and the car to be purchased.

Don't be in a hurry.

Walk away from salespeople you don't like.

Know the numbers (paper & calculator).

Shop around.

Don't relax until you are driving off in the new car. The profit margins on the extras can be high!

It's your money.  

Money is Easier to Access

We often hear that our parents or grandparents saved until they could afford that piece of furniture, that car, that _____? Yet you are struggling to save for anything! Is it just you?

Lifestyles have definitely changed since our grandparents were young. Consider the changes in just the last 25 years.

25 years ago

ATM's had only been going a few years . 

Bank hours were 10AM - 3 PM Monday-Thursday & 10AM - 5 PM on Fridays.   

EFTPOS didn't exist.   

Banks only considered a home loan if you had a Bank account with them for at least 6 months, and showed a savings pattern.

Scams - Intro

In the past 3 years, over 7,000 Australians have lost at least $500 million to financial scams. It is important to understand that at some time you will be invited to join in an investment scam. The invitation may be a phone call offering little known shares that are about to take off. It could be from a friend, work colleague or someone in a social or church group inviting you to attend a meeting or seminar.  

Given the amount of money lost, scams must appear very attractive. Often the scams last a number of years and in fact do pay returns as originally outlined. This of course is part of the scam. Get you in, gain your confidence so that you will invest more and tell many people about this wonderful opportunity. Then wham! It's gone and you lose everything!   

How do you spot scams? Here are 5 clues that may indicate a scam: