Changing your money mindset will help you achieve your goals. Doing this will lead you to a place of happiness and security, because it will give you the ability to make choices about the way you want to live your life.

Bowing to pressure from the government, the “big four” banks have announced they will each pass on the Reserve Bank’s rate cut in full, saving borrowers hundreds of dollars a month. Westpac was the first out the door to hand the 0.25 percent rate cut over to customers on Tuesday, followed closely by Commonwealth Bank, NAB and then ANZ.

The Reserve Bank board has cut interest rates again by 0.25% at their March meeting, their fourth such cut since June last year. The move comes largely in response to the uncertainty caused by the global outbreak of the coronavirus (Covid-19), and up until about last Friday I’d have said it was a close call as to whether the bank would cut or stay put.

Lower tax on your investments can help you reach your financial goals sooner. But don’t choose an investment based on tax benefits alone.

A family trust simply refers to a trust set up by a family group who wish to safeguard their collective assets. Such trusts can be used to provide tax benefits to the group in question, to protect assets from individual liability, or to ring-fence them for inheritance or investment purposes.