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rachael hockaday

Invest in Yourself: Financial Literacy 101

By | Financial Literacy, News

BWC communications intern Louise Priddle signed up for our first Financial Literacy 101 workshop and came away with five top tips from the experts:

  1. Make a real budget … and stick to it
    Being conscious of money-in versus money-out is important. BWC Director Cara Brett, from Bounce Financial, says you need to be realistic about the money you actually spend, rather than restricting yourself too tightly and dipping into your savings later. The key here is to include everything.
  1. Pay off your debt … particularly the bad kind
    Bad debt, such as credit cards, car loans and payday loans, is something that you want to get rid of quickly, according to Nicole Green from Unique Finance. Don’t be afraid of borrowing money for things like a home, but be careful about using debt to prop up your everyday expenses – it’s a sure sign you are living beyond your means.
  1. Top up your super
    Retirement might seem a long way off but it will be here sooner than you think. On average, women have half as much superannuation as men, so making contributions or salary sacrificing is important to ensure you have a decent amount to live on when you stop working. There are still some tax advantages for investing in super and jobs with the government or an NGO often have their own super perks. The rules change frequently so make sure you have a chat with your accountant or financial adviser.
  1. Invest in your own nest
    Buying a house or shares is a good option if you want an asset that is likely to increase in value over time. Of course no investment is guaranteed but borrowing money in these instances may not be such a bad thing.
  1. Give yourself a safety net
    Australia is one of the most under insured countries in the world which means most of us are exposed to big financial risks when things don’t go according to plan. Life, income and total and permanent disability insurance are the key ones for all of us to have or at least consider. Life insurance is also much easier and cheaper to get the younger you are, and something you definitely won’t regret if you’re ill or have an accident. If cashflow is a little tight it may be possible to pay for insurance out of your super so talk to your financial adviser about what’s best for you.

Useful websites
Personal Loans
Credit Cards
Mortgage & Finance Association of Australia
Superannuation search
Women’s money toolkit
How much super will you have?
Centrelink benefits estimates
Lodging your tax return online
Calculating tax withheld on salary
Income Tax payable/refund estimator
ATO Summary of Deductions
My Gov Website for super searching
Universal Rollover Form – the business world sits up and takes note of BWC’s relaunch! – article on “Regeneration – a story of change”, a stunning exhibition curated by the BWC in support of the Women’s Legal Service.

University of Queensland’s Women’s College

By | News, Women's College

The Brisbane Women’s Club has launched a new $20,000 scholarship for students at The University of Queensland’s Women’s College.

The scholarship enables the Women’s College to provide annual financial assistance to an outstanding Women’s College applicant who previously may not have been able to accept or maintain her place at College due to financial circumstances.

Mrs Mendy Campbell of the Brisbane Women’s Club said Ms Laura Riddell would have her financial burden eased, enabling her to focus on her studies.

Head of Women’s College Adjunct Professor Iyla Davies said the scholarship allowed the College to accept the best and brightest applicants.

“This scholarship means we can offer places to women who not only will blossom in the College community but who will enrich other residents’ lives,”Adjunct Professor Iyla Davies said.

The Women’s College was founded in 1914 and provides a vibrant intellectual community through quality academic, residential and pastoral care for rural and regional Queensland women.

The College’s mission is to increase students’ understanding of the world and to foster educated women leaders within that world.

The Brisbane Women’s Club was founded in 1908 by Margaret Ann Ogg (1865-1953). She co-founded the Queensland Women’s Electoral League in 1903, which was instrumental in obtaining the Right to Vote for Queensland Women in 1905.

She became known as a pioneer of Women’s Rights. In 1908 she founded the Women’s Progressive Club, which later became the Brisbane Women’s Club.

The Brisbane Women’s Club supports women’s social and cultural needs through the establishment of the Brisbane Women’s Club Charitable Trust.