What to Keep in Mind When Renovating Your Kitchen

Posted on 15 Sep 2016 by Shammika Munugoda

What to Keep in Mind When Renovating Your Kitchen

The kitchen is, without a doubt, one of the most popular rooms in the home. It's not just where food is prepared; it's often where people are most likely to congregate when the home is used for social gatherings. This is why kitchen renovations are amongst the most popular kind. If you're considering renovating yours, be sure to continue with this article. The following are some key pieces of advice that could make a huge difference.

Invest in Quality Materials

There's no doubt about it: renovating your kitchen is going to cost you. While that doesn't mean going all out and throwing caution to the wind, it also doesn't mean looking to cut corners at every chance you get.

For example, it's always worth it to invest in quality materials. Given the main function of the kitchen, durable options are best. The heat, moisture, wear and tear, and other conditions are enough to cause issues for lesser materials and leave you with a ....read more

ANZ Money Manager Alternative

Posted on 27 Jul 2016 by Shammika Munugoda

ANZ Money Manager Alternative

One of Australia's first personal finance management tools, ANZ MoneyManager recently announced their intention to discontinue the service from 31st July 2016. This has sparked and triggered many discussions in forums, online community groups and certainly in our own email inboxes, with existing (somewhat disgruntled) ANZ Money Manager users now wanting to migrate and 'park' their years worth of data with another similar service.

Launched in 2009, ANZ Money Manager was an innovative product, providing their customers the ability to connect and aggregate various different types of accounts across multiple financial institutions.

Boomeringo has developed an easy to use import tool to help existing ANZ Money Manager users transfer their information. Boomeringo also use....read more

Boomeringo turns 2

Posted on 01 Jul 2016 by Shammika Munugoda

Boomeringo turns 2

Exactly 2 years ago Boomeringo was released as a public beta version. From day one, I knew it was going to be an uphill battle for us to get traction, as at that time there were 3 well-established, budgeting apps that had hundreds of thousands of users and millions of dollars in funding.

Till to this date, Boomeringo is bootstrapped. Our vision was not to be just another budgeting app but to provide something different that the industry was lacking. What kept us going was the story of the Chinese bamboo tree.

Just like any other plant, the growth of the Chinese bamboo tree requires nurturing, lots of it, more so than any other plant you know. In its first year, you will see no visible signs of growth. In the second year, no growth above the soil. The third, and the fourth, still nothing. Your patience will be tested and you begin to wonder (and perhaps doubt) if your efforts will ever be rewarded.

And finally in the fifth year, it grows up to 80 fe....read more

Start Thinking About Your Tax Return Today

Posted on 23 May 2016 by Shammika Munugoda

Start Thinking About Your Tax Return Today

Although it comes around every year, tax time is an annual period of stress for many that seems to creep up unexpectedly. With less than a month to go before the end of the financial year it's definitely time to start thinking about your tax return. The key to a stress free tax return is to plan early, so start now and make life easy for yourself. Although you have from July 1st to October 31st to file a tax return I'm going to outline why you should get underway as soon as possible, and the tools readily available at your fingertips that can help!

Why Should I Start Thinking about my Tax Return early?

The most obvious reason to start thinking about your tax return early is that the sooner you file, the sooner you'll receive your refund, if you're due one. While there is a four month period during which time you can file your tax return, it seems silly to leave your money with the taxman. If you do make use of a high interest savings account, bu....read more

Make Everyday Your January 1st

Posted on 23 Dec 2015 by Shammika Munugoda

Make Everyday Your January 1<sup>st</sup>

Make Today Your January 1st

They say the worst time to go to the gym is in January. That’s because it’s right at the beginning of the New Year, when everyone still has their resolutions in mind and are benefiting from the momentum their goals have given them. However, every seasoned gym rat knows that the regulars will have their routine back to normal by March, at the latest. By then, the vast majority of people will have hit some kind of resistance and given up. A lot of them probably even sit at home andmake plans for meeting their goals next year.

Stop Waiting until January 1st

Alright, time for a little tough love. January 1st doesn’t matter. If you’re an adult and you have a goal, now is the time to start working toward it. Between now and New Years, a lot could happen. I can almost promise you none of those events will make it easier to hit whatever milestone you’re eying.

....read more

Five Ways To Save Money On Holiday

Posted on 09 Sep 2015 by Sophie Wakeham

Five Ways To Save Money On Holiday

Whether you’re planning a quick getaway, big holiday or long expedition to indulge your wanderlust, a trip abroad can be one of the highlights of the year for many of us. When so much planning goes into setting your ‘holiday budget’, then sorting out flights, accommodation and activities, the day you get going should be an exciting event and certainly free from any niggling worries. Saving money whilst you’re away, or rather avoiding parting ways with your hard earned dollars unnecessarily can be very important if you’re trying to stick to a budget. The great news is that there are a few key tips which you can keep in mind to facilitate the perfect stress free trip.

1. Get The Best Deals on Flights and Accommodation

the best way to start on your trip is by making sure you get the best deals on flights and accommodation. It’s a fantastic idea to use a fligh....read more

Skipping Lattes Won't Make You Rich

Posted on 28 Aug 2015 by Shammika Munugoda

Skipping Lattes Won

Whenever we hear the words "saving money”, our very first instinct is to think about economizing on daily lunches, skipping breakfast or even not buying that favourite caffè latte you always have in the morning. But does it have to be this extreme? We've all heard those financial advice that are so cliché - "spend less than you earn", "first save, then spend", but are they practical enough for us to follow and most importantly, how effective are they? We asked five professionals about their take on saving money.

Peter Horsfield - an experienced CFP from PeterHorsfield.com.au

  1. Know what is important to you. If you don't have a good enough reason, then when the going gets toug....read more

Should I Pay with Credit Cards or Cash

Posted on 05 Aug 2015 by Shammika Munugoda

Should I Pay with Credit Cards or Cash

Over the years, we have moved closer and closer to a cashless society, with credit and debit cards becoming easier to use with facilities such as Visa payWave and MasterCard PayPass. But is cashless the way forward?

Cash

Pros

  • Protected from security breaches – no personal information is made available when paying cash.
  • Evade overspending – you are limited to how much you can spend. Studies have shown that it is psychologically harder to part with cash than a card.
  • Avoid extra charges where establishments have a minimum charge to use eftpos.
  • You are still able to pay in the event of technology problems, when eftpos communications are down.
  • Handy for split bills in restaurants

Cons

  • Unable to utilize the convenience of apps, such as Boomeringo, that automatically track your spending and budgeting.
  • If your cash i....read more

How much are you paying for those pesky ATM fees?

Posted on 09 Jul 2015 by Shammika Munugoda

How much are you paying for those pesky ATM fees?

According to a recent study URL, Australians paid an "extraordinary amount of money"; a whopping $630 million in the year to July 2014, for ATM related fees. 

Although it is not for us to say whether it's right or wrong for banks to charge us a fee every time we withdraw money from an ATM that doesn't belong to our bank, it encouraged us to analyse how much a Boomeringo user pays on average for these ATM related fees - the results actually shocked us. 

Some of us go the extra mile to avoid paying these pesky ATM fees, but most of us won't even hesitate to absorb this seemingly small amount of $2. However, every little amount adds up, and you might end up paying hundreds of dollars for ATM related fees. That's money you could have easily....read more

Eat Well on a Budget

Posted on 01 Jul 2015 by Kavisha Jega

Eat Well on a Budget

Although eating healthily can be (ridiculously) expensive, it can also be done on a budget (trust me!). After moving interstate and spending all my savings setting up my new life, my apartment and my business, I’m not exactly rolling in the dough. However one thing I’ve leant how to do is be thrifty with my money. I’m still eating amazing food- fresh, local and (mostly) organic, with a little bit left over for eating out at new cafes and restaurants.

So, want to know how I do it? Here are my top tips…

1. Shop at your local farmers markets.

Even if you really can’t afford to buy from the organic stall, the produce at the farmers markets are generally fresher and cheaper than what’s available in the supermarkets. Local and seasonal produce is also more nutritious than produce that has been imported from overseas. Most farmers markets have stalls where you can buy fresh bread, eggs, cheese and meat. It&....read more

A Quick Guide To Home Loan Refinancing

Posted on 22 Jun 2015 by Huffle

A Quick Guide To Home Loan Refinancing

Like a lot of homeowners, you may have bought your house a number of years ago and have not revisited your mortgage. It is always a good idea to review your payments as it is a large annual expense paying interest rates on any loan. Boomeringo helps you monitor those cash movements.

Refinancing a home loan has its perks. Your situation may have dramatically changed: a higher valuation on your property or an increased salary actually lowers your risk. This encourages banks to offer a better deal. You may also want to shorten the term of your current loan, lower your interest rate, lower your monthly repayment, adjust your rate from variable to a lower fixed rate or refinance to cash out the equity in your own home.

There are many things to consider before refinancing your mortgage. Most importantly, you should weigh the pros and cons of your particular situation and act according to your own best interest. With some thorough research and planning, refinancing your....read more

Why You Need to be Saving For a 'Rainy Day'

Posted on 27 May 2015 by Sophie Wakeham

Why You Need to be Saving For a

Saving for something big is always an exciting process, with your dream set firmly in your sights you work hard and watch as your savings grow into something amazing. Budgeting for the things you want will be a very familiar process for most people, but saving for life's necessities in case of an unexpected hiccup down the line can commonly be overlooked. Granted, if you're used to saving for say a great new car or a fantastic holiday, then saving for an emergency 'rainy day' fund might comparatively seem a little dull. Unfortunately though life can be unpredictable and if you do find yourself in a sticky spot, having an emergency honeypot to fall back on will really help you out.

Why Are Emergency Savings So Important?

Emergency savings can keep you afloat in a crisis, this could vary from your fridge, laptop and car breaking down in the same week all the way to you losing your job. Whatever the circumstances you'll need to have the funds r....read more

Why You Absolutely Need an Online Personal Finance Manager

Posted on 12 May 2015 by Sophie Wakeham

Why You Absolutely Need an Online Personal Finance Manager

Although keeping control of your finances is a task undertaken by pretty much the whole adult population it still remains a grey area of confusion for many. Whether you're struggling with budgeting or simply confused about spending, taxes or bills, chances are you're losing a good chunk of time at the end of each month pouring over bank statements and spreadsheets. The good news is that nowadays this is by no means an inevitable fate, make use of a free online personal finance manager and you'll be delighted to discover just how much easier managing your money can be. Making use of a money management app can be a great shortcut to achieve a comprehensive and holistic view of your financial situation. Not only will this save you time, hassle and most likely money, but it will also provide you with confidence when it comes to tax time, maintaining bill payments and reaching your long-term financial goals. You now have the freedom to access your financial rundown from anywh....read more

Five Things You Need To Stop Paying For Now

Posted on 15 Apr 2015 by Sophie Wakeham

Five Things You Need To Stop Paying For Now

Do you ever find yourself sitting back at the end of the month taking stock of your personal finances and thinking, 'where have I been spending my money?'. The good news is you don't need to stay in the dark for long; make use of a free personal finance tool and you'll have a clear run down of what you've spent and where, in no time at all. However, knowing where you've been spending your money is merely the first step to getting your finances in order. From here you need to start making some changes to tighten the purse strings a little bit. In this blog post I'm going to outline a few of the most common areas that people regularly spend their money. Better still rather than just cutting back, these are all areas that you can stop spending your hard earned dollars on all together.

1. Books, music and movies. Instead of buying a new book, album or DVD, sign up to your local library and make use of the great free resources. Furthermore you should....read more

Four Ways To Stay Stylish On A Budget

Posted on 08 Apr 2015 by Sophie Wakeham

Four Ways To Stay Stylish On A Budget

If you enjoy fashion but find you simply don't have the budget to keep up with the latest trends it can be very frustrating. However, there are a few simple ways in which you can change the way you shop in order to keep you looking stylish without breaking the bank.

Tip One - Perhaps the easiest step you can take is to re-evaluate your existing wardrobe, it's super easy and best of all, free!. If you feel your clothes have become a bit tired and drab, take a look at everything you have and try out different combinations. Chances are you'll discover some great new looks just by mixing up your usual combinations or by adding a different accessory. If you come across any items that are damaged, rather than throwing them away, do some research and see if you can get creative with some DIY repairs.

Tip Two - Choose the timing of your shopping wisely. Make a list of the key wardrobe items that tend to ....read more

How To Save Money On Your Energy Bill

Posted on 01 Apr 2015 by Sophie Wakeham

How To Save Money On Your Energy Bill

Making a monthly saving on your energy bill can be one of the biggest ways to cut back on your overall yearly expenditure. Furthermore it can be a very easy process, don't worry I'm not about to suggest you sit in candlelight wrapped in blankets to stay warm, the reality is in fact far less extreme! I'm going to outline three areas in which you can make some subtle changes which are not only environmentally friendly, but budget friendly too.

1. Lighting

As you go about your home its a good idea to keep in mind how many lights are switched on. During the day try and break the habit of turning the lights on as you enter a room, if it's a bright day open the curtains and utilise the natural light instead. If this isn't an option however, simply remember to turn lights off as you leave each room and don't leave side lamps on all day. You should also choose wisely when purchasing lightbulbs, everyone loves a bargain but take care to remember ....read more

Why is Your Credit Report so Important?

Posted on 25 Mar 2015 by Sophie Wakeham

Why is Your Credit Report so Important?

The importance of your credit report is not something to be underestimated, however it seems to be an area of confusion for many people. Either you don't know if you have one, are unsure of what it really means if you do, or know your credit score but need to work on improving it. I'm going to outline the basics of understanding your credit report, as well as a few tips that can keep your score high. Building a good credit report can be a lengthy process, so it's a good idea to get started as soon as you can.

What is a Credit Report?

Your credit report is a body of information relating to your history of handling money and debt. It contains a substantial amount of information including your job, past credit applications, how you pay your bills, if and how much debt you've accumulated, whether you've filed for bankruptcy, had a vehicle that's been repossessed or a home foreclosed. So, do you have a credit report yet? If you've applied....read more

Three Easy Ways to Maintain Your Social Life on a Budget

Posted on 18 Mar 2015 by Sophie Wakeham

Three Easy Ways to Maintain Your Social Life on a Budget

If you've partied too hard at the start of the month and find you've blown your 'socialising' budget you might be feeling a bit glum. However, you don't have to spend the rest of the month in solitude, make a few simple changes that will save  some money and you can still enjoy a healthy social life. Avoid the pricey restaurants, bars and birthday gifts and opt instead for at home dinners, DIY gifts and free events.

Bring your friends to you by hosting a gathering providing some easy and economical home made dishes, or better yet get everyone to bring a dish or drink. Not only will you have a great time but it's likely people will reciprocate in the future, meaning plenty of budget friendly gatherings to look forward to next month.

When it comes to birthday presents, give it some creativity and thought and you'll discover that there are....read more

How to Save Money as a Busy Parent

Posted on 11 Mar 2015 by Sophie Wakeham

How to Save Money as a Busy Parent

In the midst of juggling school runs, work, doctors’ appointments and dinner, being a busy parent can leave little time for much else. For this reason big plans often get put on the back burner; perhaps you've been thinking long and hard about that family holiday you'd love to go on, or even that new couch you really need but just can't seem to get started on making it happen. Well, there is a simple solution! I'm going to talk about the importance of creating short term budgeting goals when trying to achieve larger savings in the long term. I'll also outline the various tools and resources available that can make it easy for you to do so.

Why are short term goals so important?

All too often people tend to think about saving in terms of large lump sums, e.g. I will need X amount for our family holiday in 6 months’ time. This approach is problematic because the idea of saving such a large sum can be very overwhelming; the goal beg....read more

How to Negotiate Service Fees with Your Bank

Posted on 18 Feb 2015 by Shammika Munugoda

How to Negotiate Service Fees with Your Bank

When it comes to dealing with banks, most of us just take for granted that their rules are inflexible. After all, they’re million-maybe even billion-dollar institutions and we’re one of perhaps as many customers. It can be intimidating or even embarrassing to ask them to bend the rules for us, despite the fact that we’re loyal customers and, as the saying goes, we should always be right. The good news, though, is that negotiating with banks can work, even when it comes to something as “set in stone” as service fees. Consider the following the next time you’d like to save some extra money and you may find yourself able to negotiate much better deals in the future.

No Amount Is Too Small

One misconception about negotiating fees with your bank is that there are some amounts that are just too small to matter. If you try to cash a check that had a stop payment put on it, you may get charged something in the neighbourhood of $7. Wh....read more

Why You Absolutely Must Track Your Finances

Posted on 29 Oct 2014 by Shammika Munugoda

Why You Absolutely Must Track Your Finances

Many financial advisers like to suggest that a budget is absolutely essential for every adult who cares about their money (that should be all of you). However, I'm beginning to think that this only paints half the picture. Setting a budget is all well and good, but far too many people do as much and still suffer financial issues. Why? I think it's because they're not actively tracking their money as it comes in and goes out. Tracking your money is an essential step when it comes to improving your financial life.

Where Budgets Fall Short

Let me reiterate that I'm still a fan of creating a budget and think it's an absolute must for everyone. However, without tracking what you spend, your budget becomes impotent. It would be like creating a diet for yourself and never bothering to actually keep track of what you're eating or stepping on a scale. How would you possibly know if your diet was working? At least in that analogy, you may notice w....read more

Financial Tips for Entrepreneurs

Posted on 07 Aug 2014 by Shammika Munugoda

Financial Tips for Entrepreneurs

Like most entrepreneurs, when you tell people what you do for a living, you're probably used to seeing their ears perk up. Their eyes might get a little bright and they typically express how envious they are or talk about the plans they have for pursuing the same line of work someday in the near future. If they only knew, right? Being an entrepreneur looks great on paper-and, sure, it definitely has some perks- but the truth is that this path is an arduous, challenging and sometimes downright terrifying one. This is especially true when it comes to matters regarding money. There never seems to be enough of it and what little there is always seems like it has someplace better to be. It doesn't have to be this way, though. Try the following tips for a little breathing room and a chance at better finances.

Track Everything

Everyone out there should have a budget and be tracking every penny they spend, so they can refine their financial sched....read more

Saving Money Can be Fun

Posted on 09 Jul 2014 by Shammika Munugoda

Saving Money Can be Fun

Despite the fact that we all know it's important, saving money is often a painful chore most people find tedious or even impossible. Fortunately, being financially responsible doesn't have to be this way. There are a number of practices you can put into play that will not only bring more money to your bank account, but also help you enjoy getting it there in the first place.

  • Collect $5 Notes

    Just about everyone I know collects something. Many people collect stamps, coins or sports memorabilia. I, however, collect $5 notes. The main advantage to my hobby is that they don't have to come from a certain time period, be in a certain condition or have someone's autograph. They're all valuable and I know exactly how much they're all worth.

    This practice is more like a game than a hobby though. The way it works is this: every time I come across a $5 note, I hold onto it and fight the urge to spend it. Tha....read more