JRN Financial Blog

Major life changes can lead to stress which in turn leads to anxiety or uncontrollable outbursts.  Stress can also alter our mood, cause unhappiness and lead to serious health consequences.

Some of the major life changing events include relationship breakdown, divorce and even death.  However, in a poll of 2200 adults who have moved home in the past 4 years, the data shows that 60 per cent have rated moving to be on top of the list of stress triggers.

Dr. Tom Calma believes in positive investment choices when it comes to big life changing events such as moving home. Too many people are bring the stress onto themselves by finding removalists that are not experienced or are providing a budget service.  For sure it can be one of life’s most stressful events but how you manage that stress can be controlled to a certain extent.

Misplaced possessions, realising furniture doesn’t fit, furniture damage and trusting someone you don’t know with all your possessions isn’t exactly comforting.  Dr. Tom Calma recommends using comparison sites for interstate removalists in Brisbane to gauge the market price, do your research into the company and never go with the cheapest available option for life changing events.  What people don’t understand is that there are trade offs with budget options and in cases of moving home, it will be poor experience which leads to furniture damage and higher stress levels.

People often say saving money is just as good as investing money. More often than not if you can negotiate a good deal on a service you need to use or a purchase that you need to buy. Then the money that you save on the goods or service is more often at a better rate dollar for dollar than putting that money aside into a savings plan to let it accrue.

For instance, if you are relocating home, often it is at a time where you need the service in the near future and it is very unlikely that you have actually put money aside to account for the relocation expenses. So a good idea here is to see if you can negotiate a good deal with a mover or compare different removalists quotes before you go with the right one. Depending on where you are relocating from and to, you will be surprised to find that you can even save hundreds of dollars just by getting multiple quotes. Let’s dig a little bit deeper in this situation, why you should seek a number of removal quotes and how saving in this situation can net you a better return than investing.

In order to find the answer we need to understand in a world where choice is in abundance, where there is excessive competition from companies to fight over business, there should be no reason why you should not take the time to carefully assess how you are going about deciding what you need to buy and who you want to purchase it from. Taking the time, allows you to think logically about a purchase rather than making an impulse decision when emotions are running high. It allows you to put a scenario in perspective along with your real needs and wants and can save you not only money but also the feeling of guilt from buyer’s remorse on an impulse buy.

When it comes to removalist quotes in Melbourne, seeking a number of Melbourne removal quotes and making a logic decision rather than one based on impulse has its benefits:

It allows you to understand and compare the market price.

Unless you move frequently, it is very unlikely that you will know what the going market rate is for hiring a Melbourne removalist. Getting several removalists Melbourne quotes and analysing them will very quickly give you a great insight and understanding to what the market rate is for a job that you need done.

It allows you to get to know whom you are dealing with

Only by seeking testimonials, reviews and personally going through a few removalist quotes and phone conversations with different movers in Melbourne will you be able to quickly identify a feel for the company that you are dealing with. Unfortunately, the removals and transport industry like any other industry will have a few shady companies that tend to make it bad for the ones who do a great job and unless you know for sure that they have an extremely reliable reputation, you need to get to know the company who will be handling your belongings even if it’s just for your own peace of mind.

It allows you to save money

There are no surprises here when we say getting a few Melbourne removalist quotes will definitely save you money. It pays to shop around, especially when you decided to move interstate rather than just up the road. You may find that moving up the road, removal quotes may come in pretty similar, however when you are moving interstate or to another country the quotes can come in at vast differences. This is because every removalist has a different view on how to approach the job, how many movers will be involved, what type of truck will be used, what insurance they hold and what their individual overhead expenses are and this all affects how long the job will take to get done and consequentially the final price of the quote.

There are times when impulse decisions need to be made such as times when urgency is a priority and that is fine. But understand these decisions may not necessarily be the best, after all making a logic decision doesn’t need to drag on for days either. It just means gathering all the information together that will aid you in the process of making the most appropriate and informed decision and the one that you will stand by.

If you spend a few hours just to gather some quotes and for example if we say after a few hours of gathering quotes the highest quote came in at $5000 then $4200 then the last at 2500. Instantly if you were to go with the second company you would have instantly saved $800 and all for a few hours work. A few hours work to save $800.

That’s a pretty good investment wouldn’t you say?

Investing is the best way to generate more money out of present money. It is a great way to build wealth and to become financially independent. Remember, good invested money cannot just benefit you but your future generations.

INVESTING IN CURRENCIES:

The foreign exchange market, more commonly known as forex, is a place where the worlds’ currencies are traded 24 hours a in nearly any part of the world. While to some, it may appear to be a simple mechanism for the exchange of one currency into another, it is also a great place to invest money. Individuals represented by brokers’ deals with the banks. Investing in currencies offers the potential to make significant returns or profit on the money invested. This can be easily done by opening a standard trading account with a forex broker and trade currencies all over the world.

SAVINGS ACCOUNT:

A savings account is an excellent place to invest your cash savings for multiple reasons. Not is it just low risk and can provide security to your money but promises a modest interest rate. A savings account can prove its worth in an emergency, without savings you can put yourself in financial debt. A savings account will allow you access to your money in an emergency whenever you need it most. However, be mindful if it is a high interest term deposit account where there is usually a set term before it matures where you are able to access your cash. If one starts saving from an early stage, there are advantages of compound interest — interest that is calculated on principal plus accrued interest. Many saving accounts render higher interest rates and are ideal for long term savings and investment.  Some of these high-yielding savings account render higher interest rates are only available online, but they provide substantial returns on money kept in the account compared to a local branch.

INVESTING IN SHARES:

This is a great way of expanding your wealth and money, by purchasing a selection of shares. They may carry risk but promise the highest returns on money invested. By purchasing few shares, one owns a little bit of the company and a proportion of the company’s value. One can buy shares themselves or pool money together with family or friends in a collective investment called fund. With the growth of the company you have invested in by purchasing shares, your shares bring greater value and make your investment worthwhile.

HOME LOAN OFFSET ACCOUNT:

A type of lending arrangement, usually as mortgage, is the sort of investment in which a saving account has to be maintained by both the lender and the borrower. But instead of receiving interest on this saving account maintained, the interest payment that becomes due on the loan is calculated only on the net balance of the loan less the savings account. Which can potentially make you own your own home quicker and faster.

PLANNING YOUR OWN STARTUP:

If you have savings or money pooled that you need to invest somewhere and do not want it sitting in a savings account or utilise it in currency or share trading the best way remains to invest it in a new personal or family business and alleviate your monitory reward potential. Investing in startups can be a very good option but it comes with a lot of business risks and the question of how to maximise returns on this investment? Startup business can work marvelously well with many investors finding it a very successful move in generating a good revenue they crave.  The key to investing money in a successful startup is identifying your business risks beforehand and prepare oneself for foreseeable losses.

This article is only meant to be used as a guide and you should carry out your own financial risk assessments and conduct your own due diligence prior to committing to any investment.