The Australian Securities and Investments Commission (ASIC) recently launched a new personal finance website called MoneySmart at www.moneysmart.gov.au, which will be of great use to consumers.
According to ASIC, research shows that about half of Australians are not confident they’re getting the best deal when making important financial decisions. Those surveyed said they didn’t necessarily know where to go to get the information they need.MoneySmart aims to help you make good choices
financially, by providing free, independent and unbiased advice and tools. There are 26 calculators and tools to choose from, including some for use on mobile phones. By following simple steps you can get quick answers to questions about money.
MoneySmart covers not only the basics such as budgeting, saving, credit cards and loans, but also more complicated issues like superannuation contributions, margin loans and income tax.
There is information for people at particular turning points in their lives; starting work, buying a home, losing a job, having a baby, saving for a holiday, getting divorced or retiring.
Whether you’re young or old, rich or poor, investing or paying off debt; the site offers uninfluenced free-of-charge guidance, so that you can pick the best options for you.
For example: if you are planning for retirement, the ‘retirement planner’ estimates what your income will be after you retire and what you can do now to boost it. It demonstrates how increasing employer contributions would give a big boost to income in retirement.
MoneySmart does not just provide information; the website empowers you to act by demonstrating the benefits of taking control of your personal finances. It takes Australians from simply acquiring knowledge, to setting and implementing financial goals.
Log on to the Money Smart website (www.moneysmart.gov.au) to have a look around. If you find it beneficial why not recommend it to your friends and family