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Debt. Credit card debt. Personal debt.  For many reasons, people may get themselves into financial difficulty with unmanageable debt levels. These reasons may include sickness, loss of job, broken relationships or purely over-commitment. This article explores methods of dealing with these situations for individuals from informal means to more formal approaches under the bankruptcy provisions to enable financial rehabilitation.

Ever since they started cultivating crops and keeping stock, primary producers in Australia have been adapting to the vagaries of weather and markets. As 2011 has demonstrated, the challenges presented by events such as drought, storm and flood can make it extremely difficult to achieve a consistent income. Therefore, it is common for primary producers to experience fluctuating incomes, and this has the potential to create a significant tax liability during bumper harvests, and inadequate cash flow when seasons are tougher.

As the Australian population continues to age, there is expected to be greater pressure on all areas of society, particularly income support, health and aged care. With many retirees expected to reconsider their accommodation requirements, financial advisers are likely to be faced with greater demand for information on alternative living arrangements. Granny flats are a popular form of aged care accommodation, with a number of social and economic advantages.

Over the next 40 years, the number of Australians aged 85 and over will more than quadruple — from around 400,000 in 2010 to 1.8 million by 2050, according to the Federal Government’s third intergenerational report. (Australian Government, 2010) This ageing population means more and more retirees will have to consider their living arrangements for the next stage of their life. As a person’s home has a huge impact on their health and happiness, it is essential all options are taken into account.

With over 4 million Australians currently receiving income support benefits of one form or another from the Federal Government (Government), an understanding of how the system works and how clients can legitimately maximise their entitlements becomes a vital element of the financial planners’ expertise.

FAFSA (fafsa.ed.gov) stands for ‘Free Application for Federal Student Aid’’.  FAFSA is made to the Department of Education in US to help students in post-secondary education by providing money to eligible students and families.  You are eligible for FAFSA if you are s US citizen or an eligible noncitizen, e.g. U.S. permanent resident, conditional permanent resident I-551C, Refugee class I-94, or citizens of Palau, Marshall Islands and Federated States of Micronesia.

Term Deposits have exhibited strong growth whilst managed funds have languished

Source: RBA Money Aggregates Term Deposits (D3), Morningstar Quarterly Report (06-11)