PREPARE/ENRICH Australia Blog

Finances

The costs of childcare in Australia is one of the highest in the OECD but with one of the lowest participation rates

Financial vulnerability poses many negative impacts on families and children however unique challenges such as the cost of childcare and property settlement and parenting matters, appear to present children with more challenges than merely being reared by married parents.

Power and control are not compatible with intimacy: Cohabiting couples and finances

Money causes tension when there isn’t enough, when it isn’t allocated correctly, and when there are different ideas surrounding its purpose. And the conflict tends to grows out of a lack of understanding and communication around money and how it relates to the couple relationship.

Financial Stress and Premarital Couples

An Australian study has shown that there is a strong link between experience of financial hardship and personal psychological distress (Creed, P.A., & Miller, J. Psychological distress in the labour market: Shame or deprivation? Australian Journal of Psychology, 2006, 58, 31-39). One point made by the authors is that financial distress reduces a person’s capacity to plan and interferes with planning for a meaningful future. It is this that primarily reduces psychological wellbeing.

The golden rule of budgeting: Spend less than you earn and save and invest the rest

Money is a powerful word that conjures up a number of emotions, among them lust, envy, fear, anger, hope, scorn and disgust. Little wonder then, that the most common source of disagreement in families in Australia is money. In fact, 37 percent of all married couples indicate that the number one problem in their marriage is #money.

2015: What are your short-term and long-term financial goals?

Budgeting is simply the process of allocating expenses on a regular basis. A good #budget is simple, realistic and clear. It builds in some personal control for each family member. In creating a realistic budget, focus first on the most basic needs like food, housing and clothing. Second, focus on what you would like to purchase in the future.

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