WFO 2022 Jan Issue #1

ISSUE 1 JAN 2022

WOMEN’S FINANCIAL OUTCOMES

Prepare to Sell BORROWING tips for you

HELLO, It's Me!

YOUR HOME

is a GOLDMINE

PROPERTY investing in 2022

r a e Y w e N y p ap

H

ISSN 2653-3693

JOIN the CHALLENGE

women’s

financial 2

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outcomes

welcome Welcome to the first WFO issue of 2022.

It is hard to believe that another year has commenced and we are all powering ahead and working to fulfil those New Year resolutions. Hopefully your resolutions included a commitment to save, improve your financial position, build your financial wealth, or expand your financial knowledge.

This month we focus on real estate. Property is so hot at the moment; market values are going up and sales being made sight unseen.

It is astounding. So, I am sure you'll find these articles compelling and topical. Also, this month, we are joined by Life Coach, Sally McGrath who will inspire you to reset your body and mind, review your financial wellbeing and, reassess your career. And we have 10 copies of Anita Marshall’s book “Achieve the Dream” to give away.

We are setting a few challenges for our readers this year, and the first will be a goal setting challenge. This will set the stage and have you ready to start the budgeting and savings challenge. Taking up a challenge is not easy, things always get in the way, life gets in the way, we simply forget, something else seems more important, or we lose focus. So to help you stay on track we will be guiding you and reminding you to stay with the challenge throughout the year. So make sure you read the budgeting article to help you start the challenge.

And in keeping with our philosophy of caring and giving, we at WFO seek to encourage a spirit of giving in all our readers and will continue to support those smaller charities that support women and their families. In this issue we feature and celebrate the work done by Zig Zag, Northshore Mums, and Got Your Back Sista. We encourage you to read about the support these charities offer, and offer your financial support so that they may continue to thrive and provide.

Each month our readers enjoy informative articles from women in the finance, financial planning, real property, and legal professions.

Our wonderful network of contributors and our own in-house editorial team who seek to educate, inform and inspire women to increase their financial literacy and create our financial future they desire.

www.wfomag.co

So, as we hit the button to publish this issue I wish you a very Happy New Year and continued growth throughout 2022.

Jacqueline Hodges

WFOMag

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This Issue

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WFO is Australia’s only financial magazine created by women and written by women from across the financial services industry for women so that our readers can learn, prosper, and enjoy a healthy and balanced financial future.

At WFO, we believe that every woman should have the knowledge to create the financial future she desires, whether she journey’s through life alone, partnered, or with her family.

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WFO shares practical financial wisdom, engaging activities, inspiring ideas, and entertaining stories, that provide the shining light for every Woman’s Financial Outcome.

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©WFO Magazine 2021

WFO TEAM

wfo team

JACQUELINE HODGES

ASHLEIGH KENT

Editor-in-Chief

Graphic Designer

ISABELLA STEPHAN

GEORGIE ARNAUD

Journalist

Journalist

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CONTENTS

contents 09

Our Contributors

12

Hello It's Me

20

Get Ready For 2022

25

Join The WFO Challenge

26

Property Investing In 2022

32

Presentation Tips To Help Sell Your Home

38

Looking To Buy

44

Scams To Watch Out For

48

Generate Income From Your Home

56

Christmas Surprises You'll Love

62

Focus on Giving

72

Financial Mind Games

74

Goals & Planners

pg 12 Hello It's Me

pg 26 Property Investing In 2022

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CONTENTS

pg 48 Six Ways You Can Earn Money From Your Home

pg 32 Preparing Your Home For Sale

pg 56 Christmas Surprises You'll Love

pg 38 Looking To Buy - Tips For Borrower

pg 62 Focus On Giving

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women’s

financial opinions 8

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OUR CONTRIBUTORS

our contributors

ANITA MARSHALL

JOANNA BOYD

Mortgage Broker, Advanced Finance Solutions Bio pg.43

Buyers Advocate, Joanna Boyd Buyers Advocate Bio pg.31

LAUREN OWENS

SALLY MCGRATH

Lead Interior Designer and Stylist, West Home Bio pg.37

Transformation Coach & Well-Being Expert Health, That Heals Bio pg.19

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PREMIERE ISSUE 1

ISSUE 1 JAN 2022

WOMEN’S FINANCIAL OUTCOMES

WOMEN’S FINANCIAL OUTCOMES

Prepare to Sell BORROWING tips for you

Britney Spears Capacity & You Making the most of your super Tips for First Home Buyers

Choosing A Buyers Advocate

Planning Your Retirement

ISSN 2653-3693

YOU WILL RECEIVE: • A link to the latest WFO online magazine and special digital only features.

• Immediate and exclusive entry to all our competitions.

• Be the first to know about events and challenges.

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It's Me!

YOUR HOME

is a GOLDMINE

PROPERTY investing in 2022

r a e Y w e N y Happ

Tips For Borrowers

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HELLO,

wfomag

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JOIN the CHALLENGE

n i W

a copy of Anita Marshalls' book

"Achieve the Dream"

We have 10 "Achieve the Dream" books to giveaway. Written by Gold Coast award winning mortgage broker Anita Marshall, this newly released handy book holds the formula to get you from renter to homeowner.

If you want key ideas on how to get out of the rental market with detailed, practical, straight forward tips and a step-by-step format to get you into your own home ... this is a must read!

To purchase the eBook online visit: www.smashwords.com/books/view/1117144 To enter simply go to our facebook page.

Find the competition post and comment “Achieve the Dream”

Join us: wfomag.co *terms and conditions apply To enter simply scan the QR code and find the Facebook post you want to enter.

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MIND SET | Hello It's Me

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Hello It's Me | MIND SET

Hello!

IT'S ME,

YOUR BODY HERE, IT'S 2022!

IT'S TIME TO LISTEN TO ME, NOW!

Words Sally McGrath With a new year, comes a new you, planning, goals and expectations for success in every area of your life…right?

All too frequently we set excessively high expectations of ourselves to achieve and exceed our goals and ambitions and if this is not achieved in the first month, (ok, maybe the first quarter)! Then we lose the momentum, our enthusiasm evaporates and we soon find ourselves falling into old habits, feeling defeated and giving up completely returning to the comfort zone of what you’ve always done. Sound familiar?

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MIND SET | Hello It's Me

Your Plan For The Year Ahead

If you've set goals to improve areas of your life the five points below will set the framework to help you with your “life cleanse”.

1. Reset Your Body & Mind

Scenario: You’re tired of looking in the mirror seeing the same reflection that is unmotivated, not smiling back at you, and lacking the inspiration to go forward with your day. Instead you sigh and think “oh well, it is what it is” and continue on (possibly berating yourself for that extra glass of wine, not getting to sleep earlier or snoozing through the alarm).

Now it’s time to create a consistent real-life routine that supports your body & mind

2. Review Your Financial Well-Being

Scenario: Agh, money! This one makes you cringe at the thought of the next credit card bill arriving in your inbox. Those “just have it” purchases during the holidays are now catching up with you and it’s bringing with it heightened anxiety to the point it makes you feel physically sick. You’ve avoided dealing with the financial plan for the last year so now it is time to get real, it’s time to bring in what you are worth!

It’s time to take charge and own your financial direction and planning, one-step-at-a-time.

3. Re-Assess Your Career

Scenario: The thought of heading back to work fills you with dread. Do I work from home or do I go into the office? Whilst it would be great to see peers and catch up the thought of the whole day at work adds to the anxiety you are already experiencing and you wonder why you didn’t put more effort into the job search last year. You’ve found you have a new routine that fits a daily morning routine, that used to be consumed by commuting and you are more productive and the fear of this changing makes you want to change jobs. Now is the opportunity to evaluate what’s working and what can be improved; job change or not.

It’s time to make sure your work & life are in synergy.

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Hello It's Me | MIND SET

4. Re-Store Your Life

Scenario: Your life is compartmentalised, you attempt to keep work and life separate. You enjoy spending time with friends, yet often find you are comparing yourself to those around you and wishing you had made different decisions so you’d be in a different/better place now. You constantly wonder what the future will bring and planning, that’s just too hard. Your life links to a cycle and the cycle for you right now is overwhelming, you know this part of your life needs attention, you just don’t know where or how to start.

It’s time to remove the overwhelm and create the life you really want to live, to thrive not just survive.

5. Re-Evaluate Relationship/s

Scenario: You’ve got friends, family and peers in your life, maybe a partner or significant other, yet you feel disconnected at times and would like to have deeper and more meaningful relationships. Your relationship with yourself is often a rollercoaster ride and being hard on yourself, with high expectations is normal.

It’s time to find the right tribe, identify who lights you up, makes you smile and supports you (as much as you support them).

You're a high achiever and wonder if “it’s” ever going to happen!

Every year at this point in time you get to this point reflecting on what has been and where you are going and wonder what is next?

If by this point you are feeling emotionally drained, you're in the right place. It's time to “listen to your body”. We know our bodies are smart, correct? So why do we continue to ignore the signs and warnings, relentlessly pushing harder thinking we’ll reach some holy grail of a “balanced life”. Balance and reality are not friends. When you consider balance, think of the see-saw in the park, one side is always higher or lower than the other; and if there is balance, it’s literally for a fleeting moment.

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MIND SET | Hello It's Me

Here’s my three pillars give you the platform to living a satisfying, fulfilling and harmonious life:

1. Work & Life Synergy vs Balance

If there is no balance then does that mean there is no hope? Once you identify that finding “balance and reality” don’t work then you can move forward and create what is achievable and that’s “work & life synergy”, where you set the framework to lean in when need be, preparing and setting points to re-group and establish boundaries that will protect you and what’s important to you, whilst retaining the ability to be productive and focused to deliver outcomes. Changes in the way we work and live have expedited the options to apply work and life in synergy.

2. Your Mental Hygiene Mental Health has gone through a massive de-stigmatisation. Whilst some have suffered for years in silence and experiencing judgement, many have just experienced what it’s like to struggle with mental health challenges, specifically what it’s like to feel extreme lows where you stop caring, have zero focus and consider that opting out of life is a solution. This is why a mental hygiene plan is essential for everyone. Considering your mental hygiene practice being similar to the exercise we do to keep our bodies fit and strong, you’ve got the idea behind the importance of supporting and exercising the mind in a preventative way.

3. Your Burnout Prevention Plan Burnout is also a condition that you’ve no doubt heard about and is on the increase both at work and outside work. The World Health Organisation now acknowledges burnout as a workplace phenomenon.

Knowing the signs of burnout and being able to identify these are important to treating and or preventing burnout progressing.

Your habits and beliefs that have been formed for many years can be contributing to the development of burnout without you having any awareness and therefore no way of changing.

The combination of meditation, nutrition, stress reduction, anxiety triggers and mindset management combined with our overall outlook on life & work are contributing factors that form an integral part in developing a consistent mental hygiene plan, that contributes to your preventative health and prevents the spiral into a full mental health breakdown. There is no health without mental hygiene.

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Creating an awareness of burnout and the associated signs is the baseline to a burnout prevention plan, getting support and being held accountable is the path to preventing burnout happening or reoccurring.

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MIND SET | Hello It's Me

Begin With Energy & Enthusiasm Whilst you might be starting the year full of energy and enthusiasm you need to have a sustainable plan in place that is robust enough to keep you going when the pressures rise & challenges appear. You’ve started your year of self-development and improvement. Here's three tips to keep your momentum & care for yourself, by turning up the volume on your ability to listen to your body!

1. Slow Down, Please

When you drive through a school zone, the legal speed limit is 40km, during the designated times, well we're the same, we need to slow down at times and change the pace.

Rest assured, it is ok to speed up when you want to and it is easy to do this. It’s likely you are better at speeding up than slowing down. We all have plenty of practice in this department.

So, if we want to slow down enough to hear something, (your body’s needs) we need to practice this, too.

2. Breathe Deeply To Encourage Relaxation When you breathe normally, you don't create unusual sensations in your body, so this readily translates to virtually no sensation at all. Breathe deeply and make yourself as conscious of your breathing as possible.

Breathing has a wonderful way of centering the mind and body and can really reframe your state. Try it now!

Build in relaxation to your breathing, you will get more benefit and feel less tense and stiff. If it helps put your hand on your stomach to feel the ebb and flow of the breath and you’ll feel the stomach rise and fall with your breathing which can help induce a meditative state, picture the air filling your body and flooding all that oxygen through you.

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3. Move Without Thinking or Deciding Let your breath do this for you, and practice first in your body. When you're relaxed, your inhales will give you a lift, and your exhales will make you more movable. So let it move, don’t think, just move and go with the flow of the breath. You may feel inspired by music that is playing and start dancing or singing, allow yourself to simply be. There is no need to make decisions, just move, breathe and go with the flow.

It's Your Time To Shine Now it’s time to leave behind the experiences that have left you unfulfilled and uninspired.

Make the year ahead, your time to shine.

Apply the three life plans I’ve shared here and you’ll be on your way. If you need help, I’d be delighted to guide and support you through your best year!

“Treat your body & mind like they belong to someone you love” Disclaimer: Health that Heals does not provide medical advice. The information in this article is not intended or implied to be a substitute for professional medical advice, diagnosis or treatment. Always consult with a healthcare professional before beginning any diet, supplementation or exercise program. Statements and opinions contained in Health that Heals articles and other related sources (Blog and social media platforms) are provided as self-help tools only. Health that Heals cannot and does not guarantee the accuracy or effectiveness of the information to your unique circumstances.

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Hello It's Me | MIND SET

Sally

MCGRATH Sally McGrath, workplace wellbeing expert, author, and transformation coach is known for her innovative approach to individual & workplace wellbeing programs. Sally works with some of Australia’s most recognisable companies on employee wellbeing, retention, and engagement. Her programs have helped employees, teams and leaders enjoy better work / life synergy and productivity.

Sally’s private coaching is to empower women to prevent burnout taking over their work and life, to stop being stressed out, burnt out and using "busy" as a badge of honour, by reframing their approach to the toxic overworking culture present in the workplace.

Sally McGrath Transformation Coach & Well-Being Expert Health that Heals by Sally McGrath www.healththatheals.com.au LinkedIn

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PERSONAL FINANCE | Get Ready For 2022

Get Ready for

2022

Words Jacqueline Hodges We have all been enjoying living and working in a somewhat unstructured way. We have all been working from home, tolerating and accepting change, and expecting the unexpected.

This unstructured way of living permeates our mindset and leaks into the way we manage our financial wellbeing. So while, we adjust to a new raft of COVID uncertainty, it’s time to close out the unstructured mentality and start 2022 with a healthy personal financial plan.

Some of us have suffered huge financial losses over the couple of years. Some readers will say we lost jobs, we lost investment value, we lost investment income. Others will say, well our credit card debt sky-rocketed, as we embraced an online spending spree. We took home loan repayment holidays only to be stung with a growing debt as interest still accrued.

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You may not have financial balance in mind or not know where to begin. So, following is the basic structure to step you through building your 2022 balanced personal financial wealth plan.

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Get Ready For 2022 | PERSONAL FINANCE

START A PERSONAL BUDGET A personal budget is a summary of your income and expenses, that allows you to plan your saving, and your spending. Once you have created a budget, it becomes a useful tool to track your financial behaviours and help achieve your personal goals.

3. LIST YOUR SPENDING Use your bank statements, receipts, and credit card statements from the last three months to identify your spending.

• Mortgage payments or rent • Car payments • Insurance • Groceries • Utilities • Entertainment • Personal care • Eating out • Childcare • Transportation costs • Travel • Credit card payments • Savings • Emergency Funds • Private Health Insurance Make a list of the spending and record the amount you paid. Total your spending for each month.

A budget also, allows you to manage your debt repayments and plan to reduce that debt. If you have funds available, it is good for the soul to set aside a part of the budget for donations.

1. GATHER YOUR DOCUMENTS To start your personal budget, you will need to gather your financial documents, e.g.: • Bank statements • Credit card statements • Investment accounts • Payslips • Recent bills • Receipts from the last three months • Home loan statements • Car loan statement

4. TOTAL NET INCOME Now subtract the total spending from total income and you will have an estimate of your net monthly income.

2. CALCULATE YOUR INCOME Include all income you regularly receive and income from any other sources, such as child support or social security. Use your bank statements, receipts, payslips and any other information from the last three months to identify your income.

• Wages • Investment Income • Child Support • Social Securities • Pensions Make a list of the income and record the amount you received. Total your income for each month.

5. WARNING WILL ROBINSON! WARNING: If your spending is more than your income, you will need to adjust your spending.

Work through the list of spending. Look to see if there is anything that you can reduce, If there was an unusual one-off payment, such as paying for a new car in one payment or if you paid a large amount of your home loan, then these should be removed. If you still have thee debts, then allocate a reasonable monthly amount for that item.

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PERSONAL FINANCE | Get Ready For 2022

START A SPENDING REDUCTION PLAN

HERE ARE SOME TIPS TO START CURBING YOUR SPENDING: • Write a shopping list and only buy what is on the list • Buy one less coffee/tea/smoothie/juice every day • Cut down on the number of times your eat out or buy in • Think about what you need as opposed to what you want • Set a fixed amount each week for fun money • Commit to sticking to the plan

Make, 2022 the year to curb your desire for excessive or discretionary spending sprees.

Focus on reducing your non-essential spending. Those lattes you are enjoying every day, may not seem much at the time, but cutting back on one coffee each day will save you around $1,000 per year.

SET YOUR GOAL TO CURB THE SPENDING Shopping can be so much fun but that feeling of instant gratification isn’t really helping you achieve financial freedom or growing your wealth. So next time you are ready to spend, think can I be doing something better with this money.

TIP: With the extra money that you didn’t spend, pop it into a separate savings account.

Leave that account alone so you can monitor how much you really spend over the year.

You’ll be surprised, once you have a spending reduction plan you will find yourself smiling as those small amounts grow and become money that you can use towards a bigger goal.

CONSIDER IF YOU REALLY NEED THOSE GORGEOUS SHOES AT THE MOMENT...

START A DEBT REDUCTION PLAN Make, 2022 the year to regain control of your personal finances. Focus on reducing your Debt. Right now, interest rates are still at an all-time low. At the time of writing, the Reserve Bank is still holding the interest rate at 0.10% and the banks rates are similarly low.

FOLLOWING ARE OUR TIPS TO START REDUCING YOUR DEBT: • Set up a debt repayment plan • Switch credit cards to lower interest rate or 0% rate cards • Sell any unused items, check out local Facebook groups and marketplace • Tighten your spending belt • Turn your hobby into a earning machine • Get a second job or start a side hustle • Commit to sticking to the plan

SET YOUR GOAL TO GET OUT OF DEBT Getting out of debt is a personally rewarding and liberating feeling. Not only that, once you have paid off that debt, you will have more money to play with, to save, to give or to invest.

"COMMIT TO STICKING TO THE PLAN" TIP: With the home loan interest rates so low, now is the time to pump extra cash into your loan to reduce the principal component.

You’ll be surprised, once you have a debt management plan you will find your stress levels and productivity at work or in your business will improve.

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Get Ready For 2022 | PERSONAL FINANCE

START A SAVING PLAN

If you don’t have a need for the extra savings, think about placing this into your superannuation fund instead. But remember, unless you have reached retirement age, or one of the conditions of release this money must remain in the superannuation fund.

You should set aside at least 10% of your income each month. Set up a separate bank account, so that you can see your savings grow. While, the interest rates, don’t seem to make savings worthwhile at present, at some stage interest rates will increase and you will have established a savings behaviour.

SEE THESE USEFUL TIPS TO START YOUR SAVINGS PLAN: • Establish your savings goal • Set up a separate saving bank account • Reduce your discretionary spending • Look for a bank account that has no bank fees • Regularly review the interest rate payable.

• If interest rates go up, switch to the higher interest earning account

You need to know why you are saving and how much you want to save. Establish a savings goal, such as I want to save $10,000 to go on a holiday to the Great Barrier Reef or I want to save $100 from each pay to save for an emergency. Set up a separate savings account, so that you can watch your savings grow. If you are setting up an emergency fund, set up a separate bank account for this fund.

You’ll be surprised, once you have a savings plan in place, you will find watching your savings grow will bring a smile to your face.

START AN INVESTMENT PLAN An investment plan allows you to grow your wealth through an investment portfolio and enjoy a diversified income stream. For example, if you buy shares, you may receive dividend income or if you invest in a managed fund you may receive a trust distribution.

Set aside an amount from each pay that will go towards your investment portfolio.

Your investment portfolio may include, cash, property, shares, unit trusts, cryptocurrency, gold, and collectibles.

SEE THESE USEFUL TIPS TO START YOUR INVESTMENT PLAN: • Speak with a financial adviser • Learn about the stock market, the Australian Stock Exchange has online training • Read investment books • Join an investment club, but check them out thoroughly • Understand your personal attitude to risk • Set up a savings account for your investment plan

Investing can be risky, so we highly recommend that you speak with a financial adviser who, understands the type of investment that you are interested in. You wouldn’t go to a Toyota repairer of you own a Mercedes Benz. Likewise, if you want to invest in gold, speak with an adviser that specialises in gold.

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You’ll be surprised, once you have an investment plan in place, while you will find the investment value may go up and down, you will learn more if you regularly record the changes in your investment’s value.

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PERSONAL FINANCE | Get Ready For 2022

START A GIVING PLAN While, establishing a giving plan may not help with your personal financial wealth plan, you will enjoy extra credits to your moral bank account. Giving to a charity adds to your feelings of kindness and you will be helping an organisation achieve its charitable objectives and you could be supporting another human being.

Better still, if you gift to a tax deductible gift recipient, you may be entitled to a tax deduction for your donation.

You’ll be surprised, once you have a giving plan in place, you will feel your well of kindness and empathy grow.

SMARTER GOALS

S M A R T E R

Goal setting is an important part of life and essential in developing your personal financial wealth plan. Goalsetting helps us align our desires and wants with an actionable plan and timeframe to achieve them.

This time of year, we all make resolutions, yet hardly any resolution survives part one month.

Overcome this New Year’s Syndrome with SMARTER Goals. SMARTER is a mnemonic acronym.

The New Year is a great time to reset your financial goals and revise your monthly budget. New Year’s resolutions come and go!

Be honest with yourself! Be realistic! Make small goals that are more achievable that can be your stepping stones to achieving your larger goals. Be SMARTER.

MEASURABLE ACHIEVABLE RELEVANT TIMED EVALUATED REWARDED/REVISITED/REVISED

Based on the original SMART goals concept, first known writings by George T. Doran (November 1981 issue of Management Review), later adapted by Peter Drucker.

If you would like our budget planner visit, www.wfomag.co/resources

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SPECIFIC

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in JoThe WFO Challenge CHALLENGE 1

Make 2022 Your Year!

Join The WFO Challenges

ESTABLISH YOUR GOALS

This year we will be introducing 6 challenges to help you on your journey to become a successful woman.

If you don’t know where you are going, you might end up someplace else.

This is a short challenge to get you started and heading in the right direction, so you can achieve what you set out to achieve.

Subscribe at www.wfomag.co/Join-the-challenge-2022 WFOMag

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2022

Property Investing In

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Property Investing In 2022 | REAL ESTATE

Words Joanna Boyd It’s fair to say that Brisbane hasn’t always been the property investor’s first choice of Australian capital cities. In the past, you just weren’t able to get the big returns you could reliably expect in Sydney, Melbourne or even Perth during the mining boom.

Let’s consider some of the key drivers impacting the investors market: • Adoption of numerous Government stimulus packages.

• Construction chaos, increased building prices and we are seeing builders going bust due to over committing to clients, lack of supplies/materials available and increased rising costs.

• People are re-assessing their own lives and how they live/work in their homes.

• More consumers are using mortgage brokers to secure loans and seeking advice from professionals before signing off on property contracts.

• Record low interest rates.

• Investors have positive cash flow, significant equity often derived from their own principal residences and are therefore re-financing to invest into more property.

But that was then and this is now. Lately I’ve been fielding a great deal of interest from local and overseas investors who are eager to enter the Brisbane market. I don’t need to tell you it’s being driven by the pandemic, which has caused people living in bigger, colder cities to re-evaluate their lifestyles and make changes.

People are opting for more space, less traffic, better weather and unrestricted parking as far as the eye can see.

The question is, will it last? Will investors continue to show an interest in Brisbane property once the masks are off for good, or is this just a passing fancy? Timing is everything when it comes to investment.

Another reason investors are taking notice of Brisbane is that the rental market has become massively competitive. Yields are on a sharp incline.

Recently I have been listing to podcasts and watching webinars so I can hear from other experts and understand what that property market will look like for investors in 2022 as we have been working through some unique times.

This rental crisis is being driven in part by people who are selling their homes at the top of the market, struggling to buy again and then having to rent for a time.

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I HAVE CREATED SOME TIPS THAT COULD BE WORTH CONSIDERING AS AN INVESTOR ENTERING INTO THE MARKET AS A FIRST TIMER OR MAYBE A REFRESH FOR THE AVID INVESTOR.

Educate yourself and be informed of your search area, infrastructure and growth Get professional advice – have solicitors, financial planners and buyers advocate all in your circle

Don’t get FOMO

Obtain finance before ANYTHING else

Don’t be an emotive buyer – stick to your game plan!!!

Understand ALL the impacts and ramifications of your purchase

There are NO more bargains to be had!!!

Get your investment strategy right for you and your goals - consider your ideal tenants, property type, suburb and your WHY??? Be confident!!!

Set your purchase price and stick to it You need to make quick decisions or your will miss the boat

Have additional options with your locations, consider suburb A, B, C, D

Minimise your contract conditions BUT include conditions if you need to undertake more due diligence

If you have finance approval, don’t wait – jump in now – don’t sit hold & wait for the market to turn

Don’t buy sight unseen, get an independent person to inspect the property - better still engage a Buyer’s Advocate

Supply & demand are significant contributing growth factors that is driving the prices

Consider land value vs land size - bigger is not always better DON’T give up!!!

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Property Investing In 2022 | REAL ESTATE

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Ultimately, selecting the right property to invest in comes down to understanding the local market – where it’s been and where it’s going. You need someone on the ground who can fill you in and guide your purchase.

Engage a buyer’s agent to assist with your property purchase and be willing to pay for the professional advice and support that they will provide for you. You will avoid some costly mistakes when you have a professional in your corner.

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Property Investing In 2022 | REAL ESTATE

Joanna BOYD

Passionate Buyers Advocate Joanna Boyd has 20+ years’ experience in the property industry, having worked in real estate business development, franchise management, recruitment, insurance and training and facilitating.

Joanna was driven to start her business after suddenly losing her husband, Tony, in 2017. At the time, she was barely in her 40s and the couple had three young children.

Dealing with the difficult decisions that need to be made after a loved one’s death gave Joanna a unique insight into why Buyers Advocates are so important.

Now Joanna is committed to building relationships with those in a similar position or navigating through a property journey.

Knowing that clients have enough to deal with, she steps in to shoulder the burden of property shortlisting, negotiations, auctions and settlement logistics.

Joanna Boyd Buyers Advocate services are for anyone who wants to purchase property stress-free. With her knowledge of off-book properties, extensive list of contacts and fluency in the secret language of real estate, Joanna Boyd is equipped to deliver your perfect home minus the emotional burden of the house-hunting process.

Joanna Boyd Buyers Advocate www.joannaboyd.com.au 0415 364 783 LinkedIn

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REAL ESTATE | Preparing Your Home For Sale

Preparing Your Home For Sale Words Lauren Owens As a single mum and serial renovator, I know the importance of making smart financial decisions that can set a family up for the future. Helping women who are taking the lead in creating their dream home or making the big and important decision to up and sell to enter the next stage of their journey is what really drives me.

One area where I see money being thrown at homes without a strong return on investment is in the preparation of selling them. They don’t say it’s one of the most stressful life events for no reason! And with more and more women taking the lead in selling homes, while also juggling many other hats and duties, it can often be hard to see the wood for the trees in improving a home for sale. It’s also an incredibly emotional experience for most people and something homeowners understandably take great pride in.

But I want to make sure women are making the right investments in improving their home for sale. Making decisions that will open up the buyer pool and lessen any buyer objections – they are the main objectives.

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Preparing Your Home For Sale | REAL ESTATE

So here are my top tips for where to invest your time, energy and money when preparing your home for sale: First of all, stay strong on the notion that you don’t have to get your home “perfect” when putting it onto the market. What you see in your home is often not what others see. On average, a buyer will spend less than 30 minutes viewing a property that they go on to purchase. We spend more time tossing up on the perfect little black dress!

What a buyer will notice in their inspections will be the more obvious matters. Like room size, position and sense of lightness and warmth.

Room position and floorplan is something you will struggle to change, so the focus should be on presenting the home to be the most liveable and inviting it can be. And enhancing spaces to achieve that outcome should be the focus.

Now, importantly don’t try to hide anything from a buyer. I’ll always recommend a building and pest inspection to clients where any major issues will be identified – including those you might try to hide. And some of the smaller, but important issues more cosmetic in nature such as a hole in the wall covered by art will be seen in the pre-settlement inspection and cause all sorts of issues to try to rectify at the 11th hour. So avoid that stress by fixing any issues that will deter a buyer and that are within your control and budget.

In setting out a plan and creating a budget for your property improvements, the first question to ask yourself is what ‘condition category’ does your home sits within? This will guide where you invest the money based on what the likely buyer expectations and visions are for the home.

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SECTION | Preparing Your Home For Sale

The first category is the ‘turnkey’ property – where the focus is very much about ensuring the functionality and aesthetical presentation of these homes. These homes have floorplans that are logical and don’t require the need for a buyer to start knocking down walls. Buyers of homes in this category will want to turn the key and settle in and enjoy.

The second category is the ‘I am who I am’ property – those properties where it will be evident to a buyer that they will need to put their own stamp on it – of whatever scale.

Whether it’s a fixer upper and needs internal updates, or perhaps it’s a knock down and rebuild job.

The hardest thing about these homes is for vendors to look objectively about the fact their property falls into the category. I recommend speaking to the agent to get their honest opinion around what prospective buyers will potentially be looking to do to this home.

And where likely buyer investment would be made on these properties. This is the key.

Buyer investment. If you have a property falling into the category it’s not worth updating the bathroom or kitchen if it’s incorrectly positioned on the floorplan.

Presentation and limiting buyer objections in these properties is the main objective. In many properties in this category, professional styling is strongly recommended so the décor matches the quality finish of the property itself.

Vendors should also go through the home with a fine-tooth comb to ensure everything is in good working order because it is all about function and quality. Make sure doors, windows and drawers open and close. If there is a drawer that struggles to open it can raise a red flag for the buyer that this home needs work or hasn’t been finished to the quality standard.

For properties in this category the focus should be on ensuring they present as hygienic and safe! Don’t worry too much about painting or fixing any dodgy cupboard doors in these properties – in all likelihood they are getting ripped out immediately, or the new owner

And remember, these buyers are less likely to have DIY tendencies or inclinations so limit the red flags for them.

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Preparing Your Home For Sale | SECTION

will put up with them while they work through their plans for the home. You want to make it liveable though as they’ll likely be in the home while they form their game plan.

kitchen or bathroom would be required. Again, you need to work within the context of buyer expectations and intentions for the home and asking your agent pointed questions about this.

The final category (and perhaps the category of most homes hitting the market) is the “got potential” property.

These properties tend to have the workable floor plans i.e., bedrooms up front and potential for an extension back and/or up at the rear. They will likely have a mix of good and not ideal characteristics that will be meeting different needs to different buyers so playing it safe in the updates you make to the home will help you to ensure you are opening up the buyer pool, no deterring buyers but you are also not overcapitalising.

It’s fair to say that some vendors of homes sitting in the second category will approach preparing their home for sale like those with the ‘got potential’ homes. And this is where money and oh so valuable time can be spent in the wrong way.

These properties are also known as ‘a bit tired’, ‘a little bit dated’ but liveable. And also, perhaps the most appealing to buyers as they can see how they can make their mark on the home but it’s not a challenge they have to face immediately.

Much like the second category, these properties will likely have some small or large renovations undertaken on them in future, so in very few cases would I suggest a new

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REAL ESTATE | Preparing Your Home For Sale

Here are the areas to focus on in prepping these homes for sale: struggle to see the potential in a property.

That’s why my pre-sale styling service is one of my most popular! A clear space with appealing furniture will really open up the buyer options for you.

• Painting is a fool proof, instant game changer. It’s amazing what a lick of paint will do to completely transform a space.

While you can’t go wrong with a bright white to bring that sense of lightness to the space, if you have large spaces you may want to bring in a subtle grey or off white to create warmth. Some of my go-tos are Dulux Lexicon (quarter strength), Dulux Snow Season, and Dulux Buff It (quarter strength).

• Switch over lighting in favour of open fittings. This is particularly relevant for older homes that hit the market with their beautiful but somewhat impractical deco light fittings (in bedrooms in particular).

You want to make sure rooms are as bright as possible, so changing the light fittings and also window furnishings to bring in as much light as possible will be critical.

• Updating the kitchen by making simple changes such as modernising the cabinet handles, painting or spraying the cabinets or replacing the benchtop with something cost effective like a laminate benchtop can be money well spent.

• Replace or fix anything that it chipped or falling apart. Though within reason!

A chip in the kitchen benchtop does not warrant immediate replacement. Again, this is something a buyer won’t see. But if there are big cracks in walls or shelves within wardrobes that need to be replaced, definitely invest in these.

• Cleaning carpets and upholstery can make a big difference to reduce buyer objections.

You can organise for them to be steam cleaned or hire a steamer from Bunnings to do it yourself. And if your carpet is beyond repair, then it’s definitely worth replacing it.

Presenting the most hygienic base to your rooms is a key indicator for a buyer.

At the end of the day you want to make sure that your home appears solid, well cared for and safe so that it doesn’t deter buyers and it helps them to see the potential. This means making sure it is clear of as much junk as possible, it’s sanitary and everything that needs to open, close or turn on is functional. It also means taking on the advice of the agent around buyer intentions and expectations for the home and approaching your property improvements with that in mind. If you need a second opinion, please feel free to reach out [Style for sale - West Home]. That’s what I’m here for!

• Tidy up and clear the clutter out! Going back to one of the primary objectives when appealing to buyers – you want to create that sense of space. Clear out all of the clutter, remove the personal photos from the wall that can stop people in visualising themselves living there. If your real estate agent suggests that you remove your furniture and bring in professional styling, don’t be offended. They are suggesting this as they know 80% of buyers will

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Preparing Your Home For Sale | REAL ESTATE

Lauren OWENS

Lauren Owens, is the owner and lead interior designer and stylist at West Home. She is also a qualified real estate agent, a serial renovator as well as being a single mum to 2 gorgeous kids.

When you combine Lauren’s skills and experience, you get the essence of West Home, which is to provide a unique offering to homeowners to create homes they that can adapt (and withstand) the realities of family life, and flex and change as families do.

Bringing her real estate experience to the table also helps homeowners to understand how updates to their home could impact their ability to sell down the track so they can make the most informed decisions.

Lauren Owens Owner & Lead Interior Designer and Stylist at West Home www.westhome.com.au 0475 940 437

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PERSONAL FINANCE | Looking To Buy

Looking To Buy? Words Anita Marshall

Upsizing / Downsizing / Moving interstate and looking to buy? Here are some great tips on how to be good looking in the eyes of the banks/lenders !!

At the moment a lot of people are looking to upsize / downsize or move interstate. If you are not a first home buyer, it’s very important to know that a LOT has changed over the past 2 years in lending so it’s completely different when applying for finance and quite a bit more complex than ever before.

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PERSONAL FINANCE | Looking To Buy

If you are considering any of these ideas, you need to know 3 very important things:

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If you are considering selling you CAN get a pre-approval before you put your home on the market so you have some peace of mind that once you have sold you will get approved for your next purchase. The preapproval will last between 3 and 6 months with most lenders. I strongly recommend this for anyone planning to buy a property before you start looking at properties.

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Borrowing capacities have come down significantly since the royal commission and then again more recently due to banking industry regulations so please don’t presume you will qualify -it’s very important to check how much you can borrow to see if your idea is realistic.

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Just because you have a large deposit, or a lot of equity doesn’t mean you will be approved. Equity or deposit alone doesn’t get your over the line anymore (once upon a time it did but now you could be buying a $1m property and only need $50k but you won’t get approved unless you have income). You need enough income to service the loan on AND afford your current lifestyle. The banks will also factor in a higher interest rate when they do your assessment so that when rates go up, they can be sure they have not put you into an overcommitted situation. Most of the lenders now work out their servicing based on adding 3% pa.

I strongly recommend a pre-approval no matter what your plan is before you get too excited as the banks can be a bit trickier than in the past.

Not all banks do a fully assessed pre-approval and that is really what you need. You want the bank/lender to fully assess your application as if you had found a home to buy and that way you have some peace of mind that when you do find a home to buy you are going to get an approval (subject to valuation of the home you are buying).

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Some tips about how to look FABULOUS in the eyes of the banks It’s important to keep in mind that the person assessing your loan application has absolutely no idea who you are or anything about you.

They don’t know if you are a good credit risk or a bad one so they are going to analyse the information you give them carefully to make an informed decision about whether they should approve or decline your loan application.

Give as much information as possible to your broker or lender to assist with the assessor’s decision.

Looking To Buy | SECTION

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PERSONAL FINANCE | Looking To Buy

Here are some tips

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Always pay your rent, mortgage, and loans on time. When applying for a loan, supply a copy of your rental ledger for the past six to twelve months if you are renting. Lender’s love seeing you can pay on time. Your real estate agent can give you a copy of your rental ledger. If you are renting privately get a copy of the lease agreement and a bank statement to show where the payments are coming out of your account. Circle them to make it easy for the assessor to see the rent. If we just supply a statement of all your accounts with the rental agreement, it is not easy for them to see. We need to make your application easy for a lending assessor to understand and to make them see what a fabulous minimal risk applicant you are. If you currently have a mortgage or loans give them 6 months of statements on those loans so they can see that you currently pay everything on time.

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If you sometimes work overtime, make sure you do a lot of it in the weeks or months leading up to the application. This will enable the banks to see what sort of income you are capable of earning. They will still work on the average overtime income you have earned in the previous year, but it helps if you can show them what you are able to earn. Once again, we want to make them understand what a fabulous minimal risk applicant you are. If you have the ability to do extra overtime that helps.

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If you are self-employed make sure you declare your full income. If you make your income too low on paper the banks will not approve your application.

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Have a separate savings account that you do not touch for at least three months.

Add to it but do not make any withdrawals.

The banks love to see that you can live without digging into your savings. They consider this to be genuine savings.

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Gone are the days when you went into the bank in a suit and applied for the loan with the local bank manager who approved the loan. However, it is important to present your documents professionally when sending in your paperwork. If you supply inferior quality scans and photos of documents, the lenders often won’t accept them so it’s important to supply high quality PDF scans of everything the lender asks for. Your character is often judged at first sight. The lending assessors do not want a messy application with poorly presented paperwork (and neither do brokers) so present everything as professionally as you can.

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Reduce the limits on your credit cards. The banks take into consideration the full limit on all your credit cards. If you have any that you do not use, contact the bank, and cancel the card or reduce the limit down as low as possible.

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Pay all your bills, including phone bills, on time. If you have a dispute with a credit provider or phone company, make sure you still pay the bill on time because they may put a default on your credit rating if you are more than sixty days overdue.

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It is my passion to get as many Australians into their own homes as possible. Hopefully this article has helped.

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Looking To Buy | PERSONAL FINANCE

Anita

MARSHALL

Words Anita Marshall is Managing Director of Advanced Finance Solutions, leading a team of professional mortgage planners.

A mortgage broker herself, Anita holds a Diploma in Mortgage Broking, Certificate IV in Mortgage Broking, Certificate IV in Financial Services, Diploma in Financial Planning and an Advanced Diploma in Business Management. With offices based at the Gold Coast and Port Stephens, she helps clients find mortgage solutions to suit their needs using the latest broker technology.

Anita is also proud to be one of the published authors in the best-selling books “Ignite Your Investment Property Mojo and “Sprout The Life You Love”.

Anita Marshall Managing Director Advanced Finance Solutions www.advancedfinance.com.au Gold Coast (02) 4919 0478 Port Stephens (07) 5613 1888

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SCAM ALERT | Scams To Look Out For In The New Year

SCAMS

to look out for in the

NEW YEAR

Words Georgie Arnaud It’s a new year and we all want to start strong.

Don’t let scammers ruin your New Year's resolutions and bring negativity into your new year. The ideal way to start your year fresh and financially ready is to relax into it, without any pressures or stresses. So, in order to make sure you don’t start your year at a disadvantage, we’ve researched the most prevalent scams to keep an eye out for at the moment.

GIFT CARD SCAMS

Have you been asked to pay a debt with gift cards? Typically, someone receives a call from a scammer pretending to be ATO or Federal Police requesting payment of an overdue tax or fine.

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The scammer will ask to be paid by gift card.

Gift cards are untraceable which is why scammers will use them as an opportunity to take advantage of your savings without any traceable evidence of the crime.

The most common form of gift card payment requested by scammers has been iTunes cards but they could also ask for Google Play, Steam cards, Amazon, Go Prepaid debit cards, Australia Post Load, or any other form of gift card.

HOT TIP: Remember the ATO or Federal Police will never ask you to pay your tax or fines using gift cards.

Scams To Look Out For In The New Year | SCAM ALERT

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SCAM ALERT | Scams To Look Out For In The New Year

CROWD FUNDING SCAMS

It’s great to make a resolution to be more charitable with the beginning of the New Year.

We all know it takes a village to raise a child and the sight of a malnourished child certainly draws on the heart strings. But do you really know who is getting that money?

Projects aren’t always what they might seem and the campaign organizer may just be trying to use generous people for their own financial gain. Scammer creators of charitable projects will often be vague about where money donations are going and how much money they actually require to run the project. They will also commonly promise an outcome that seems way too good to be true. They will use fake imagery to advertise the cause which can be identified by searching online.

CASH SAVINGS SCAM

A Saving Challenge has been circulating social media platforms, where followers were asked to withdraw a certain amount of cash for example $20 or $50 per week for 52 weeks and put the cash into a clear plastic bag to watch the savings grow. The scammer would send a weekly reminder to withdraw the cash, which acts to builds trust. At the 52-week mark followers were asked to post a photo of the bag of cash.

The best way to identify a Crowd Funding Scam is to research the project and the creator before you donate, as well as read many reviews or comments from previous donators.

Another scam similar to this is the 100-day envelope challenge, where people were asked to put money into to an envelope each day for 100 days to see how much they could save and then post a photo of the end product.

HOT TIP: Before your make that donation, check out the Australian Business Register at www.abr. gov.au or the Australian Charities Register at www.acnc.gov.au to make sure the campaign is for an Australian Charity.

Anyone who doesn’t understand how to manage their personal data, privacy, or security on social channels are setting themselves up to be robbed. Very personal information from social media accounts can surprisingly be obtained easily by scammers, including financial or IP address details. They may even work out where you live from your social posts.

Scammers will continue to take any opportunity to sneak up and take advantage of innocent people. So, let’s all take care of ourselves and ensure we aren’t giving away our hard-earned savings to the wrong people. These are just a few of the scams to look out for when starting your new financial year, so keep a wary eye out for anything else out of the ordinary.

HOT TIP: Become familiar with your privacy settings and check regularly for changes particularly with platform updates.

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FINANCIAL PLANNING | 6 Ways You Can Earn Income From Your Home

WAYS YOU CAN

EARN

INCOME FROM YOUR HOME

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Words Jacqueline Hodges If you are a property owner, you can be almost guaranteed that your personal wealth has grown over the last twelve months. Property prices are trending upwards and economists say that this trend will continue at least for the short-term. With property prices soaring you might be wondering how you can tap into this wealth. You might wonder If now the right time to sell your property or to downsize. You might have considered other ways to make money from your property. Shortterm accommodation and permanent rentals can yield a nice little profit.

So, in this article I will look at some of the various ways you can make money from residential property.

We will look Australia’s biggest tax advantage - sale of the family home, just what is downsizing and how it works, negative gearing versus positive gearing and why positive is always better, permanent rental, short-term accommodation, homestay, and tax structuring for investments. Your home could be wfo a goldmine.

6 Ways You Can Earn Income From Your Home | FINANCIAL PLANNING

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FINANCIAL PLANNING | 6 Ways You Can Earn Income From Your Home

1

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SELLING THE FAMILY HOME

It has long been the dream of every Australian to own their own home. Just what is a home?

For some a home will be a large family house with a big backyard where the children to play, for some it will be a quiet town house with a peaceful and private courtyard, for some it will be a superb inner city unit where it is all happening, and for others it might be a tiny home and a larger block where they can enjoy an off-grid lifestyle.

If you have always lived in your home and have never used it for income producing purposes such as renting a room, listing on Airbnb, or run a business from home, then you are in for the full windfall. But if you have used your home you may need to apportion that gain between income producing and non-income producing periods. You will need to pay tax on the portion that relates to the income producing period.

If you are thinking about selling your home and given the fantastic value at present this might be a good option, then you might be in for a tax free gain. Special rules in the Australian tax law apply to the family home, exempting any gain on your home from tax.

However, there are conditions.

You may ask, what if I have only rented the house out for a short time, while I lived somewhere else? Well, there is another exemption, with provisos. If you leave your home to live in another place that you do not own, and you rent your home out, as long as the sale is within six years of moving, any gain on sale may still be exempt.

FROM EMPTY NESTER TO DOWNSIZER

When the children have grown up and finally left home and are living by yourself, you may start to feel the empty nest pangs of loneliness in a big empty space. Perhaps you are contemplating selling up and downsizing into a smaller home. If you are 65 years or more, you will be pleased to know that some of that extra cash you will have from the gain on selling you home can be used to top your retirement pool. Provided you meet the eligibility rules, you may be able to make a downsizer contribution into your superannuation of up to $300,000 from the proceeds of selling your home.

The good news is that your downsizer contribution will not: • Count towards your contribution caps • Affect your total superannuation balance

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• Count towards your transfer balance cap • Count towards your non-concessional caps Downsizer Contributions Cap Concessional Contributions Cap Non-Concessional Contributions Cap Tranfer Balance Cap

$300,000 $27,500 per annum $100,000 per annum $1.7 million

The downsizer contribution can only be used once, but if you have a partner you both may be able to make a downsizer contribution provided you both meet the eligibility criteria. This mean a married couple may be able to contribute an extra $600,000 into their superannuation fund.

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6 Ways You Can Earn Income From Your Home | FINANCIAL PLANNING

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PERMANENT RENTAL

If selling your home is not part of your plan, renting may be an attractive option. Renting your home or a room allows you to retain your asset, while reducing the repayment burden. You might choose to rent the whole house or a part of the house, and become a landlord.

If you rent the whole house you will need to consider whether you take advantage of the low interest rates and build your asset base buy buying a new home, or renting in the area of your choice. Many people choose to buy a house where they can afford and use the rental income to offset the cost of

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renting in a better suburb or somewhere closer to their work.

The rental income less the costs associated with renting will form part of your taxable income and need to be recorded in your income tax return. If you make a profit on the rent, you will increase your income and may have additional tax to pay. With the current low interest many more landlords are realising a profit this year. Conversely, if you make a loss on renting you property, you will be able to reduce your taxable income and may reduce your income tax payable.

RUNNING A BnB

Starting a Bed and Breakfast requires some planning particularly if you have no experience in the hospitality industry. But with a little research you can turn your spare room into an income generator. You will need to do some marketing to attract guests, however with the many listing sites such as AirBnB or booking.com you won’t have the stress of managing a website.

As a host, you can engage with your guests and create a social experience to entertain your guests.

Or if you have the right space, such as a downstairs apartment or a granny flat you can leave your guests manage their own space and time.

Like permanent rentals, you will need to include your rental income and expenses in your tax return.

If you are starting out or simply offering the space on an ad hoc basis you will still need to include the net rental income or loss in your income tax return.

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FINANCIAL PLANNING | 6 Ways You Can Earn Income From Your Home

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INTERNATIONAL STUDENT HOMESTAY

If you have a spare room and would like to try a cultural exchange experience, hosting an international student may be a good way to bolster your income. As the host you provide the student with more than a room and a meal, you are providing a safe and supportive home environment for an agreed time frame at a specific rate. You may need to provide meals, assistance and other activities.

If you really engage with the student, you may find you have a friend for life and a place to stay if you ever travel to their home country. A familiar face is always nice when travelling abroad. Hosting an international student is generally treated as board and not taxable.

However, this will depend on your specific circumstance.

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FILM SET

This is not for everyone! You have to accept there will be lights, cameras, and action! Renting your home out for a photoshoot or as a film location is a form of short-term rental and in the case of a photoshoot a micro-rental. A photoshoot may only last one hour.

If your home has unique characteristics, perhaps it is a heritage home, or an Art Deco apartment, or the interior is carefully and skilfully curated to convey a sense of glamour, or perhaps you have an old rundown ramshackle barn on a farm.

Filmmakers, advertisers and photographers are always looking for great locations and your home could be one what they require. While it may not mean a regular source of income and the chance that the next major movie filmed will feature your home, registering your home as a location can be a great way to earn the occasional extra income.

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SPEAK WITH YOUR FINANCIAL ADVISER Now these strategies are not for everyone, you might just want your home to remain that, your home for life and that is quite alright. But after reading this article you will have a little more understanding about your option. And if you are thinking for selling or even preparing for your future, please seek professional advice from your tax adviser and your financial adviser.

6 Ways You Can Earn Income From Your Home | FINANCIAL PLANNING

"THE BEST TIME TO START WAS YESTERDAY. THE NEXT BEST TIME IS NOW" - UNKNOWN

Jacqueline Hodges is a Chartered Accountant, Registered Tax Agent and SMSF Auditor. She is a Financial Adviser and an authorised representative of Wealth Today. She has a wealth of experience having worked in the financial services sector for most of her career. Jacqueline is a firm believer in continuing education and holds a Bachelor of Commerce (UQ), a Master of Taxation (UM), and a Financial Planning Certificate. She established her own accounting firm servicing individuals and small businesses in 2005 and complemented the business in 2015 with the opening of the financial advice division.

Disclaimer: The information contained in this article is general in nature and may not be relevant to your personal circumstance and needs. Taxation, legal and other matters referred to in this article are of a general nature only and are based on laws existing at the time and should not be relied upon in place of appropriate professional advice.

We recommend that you assess whether the information is appropriate to your needs and if appropriate speak with a financial adviser to discuss your needs, financial situation and investment objectives. HQ Wealth Pty Ltd as trustee for HQ Wealth (CAR 1238791) and Jacqueline Hodges (AR 1238790) are Authorised Representatives of Wealth Today Pty Ltd (ABN 62 133 393 263), AFSL 340289.

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FINANCIAL PLANNING | 6 Ways You Can Earn Income From Your Home

Jacqueline

HODGES

Jacqueline Hodges is a Chartered Accountant, Registered Tax Agent and SMSF Auditor. She is a Financial Adviser and an authorised representative of Wealth Today. She has a wealth of experience having worked in the financial services sector for most of her career. Jacqueline is a firm believer in continuing education and holds a Bachelor of Commerce (UQ), a Master of Taxation (UM), and a Financial Planning Certificate. She established her own accounting firm servicing individuals and small businesses in 2005 and complemented the business in 2015 with the opening of the financial advice division.

We strongly believes in supporting women’s financial growth and created WFO, Hepburn, and Embrace magazines to fulfil this objective.

Jacqueline Hodges Managing Director HQ Tax HQWealth www.hqfinancialgroup.com.au 1300 474 829 LinkedIn

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PERSONAL FINANCE | Christmas Surprises

Christmas surprises!

Words Isabella Stephan After Christmas we generally find ourselves with lots more than we started. Our fridges are stocked with a platter of leftover ham and trimmings, we make gym resolutions after enjoying a month-long festive indulgence, and we may even have a selection of exciting or even some unwanted presents.

A rather common and unexpected gift can be a new pet, and whether it makes you overjoyed or concerned the facts are it’s the gift that keeps on giving in both loving and costly ways. So, we’re here to inform you just how much pets cost their owners before you go ahead and buy a loved one a furry friend.

It’s estimated that owners will spend between $3,000 and $6,000 on their pet during the first year and $1,627 on dogs and $962 on cats every year after.

After all it’s not uncommon to receive surprise gifts from the family that you wouldn’t have willingly signed up for.

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Christmas Surprises | PERSONAL FINANCE

Vet Expenses It’s mandatory to get your pet microchipped before 12 weeks as the permanent chip inserted into their skin will identify them if they go missing. The current price for microchipping is roughly $45 per pet. Core vaccinations are also recommended for your pet (even if they only reside indoors) which consist of the C3, C5, and C7 vaccinations for dogs that protect them from viruses. The first vaccination is priced from $85-$150, the second from $90$150 and the third at $200. While the three F3 vaccinations for cats are priced at $95 each.

As for desexing your pet, this should be done around their four-month birthday to prevent litters. Depending on the size, breed, and gender of your pet this can cost between $55 to $65 for cats and $150 to $450 for dogs.

It's also a must to register your pet with your local city council otherwise you may receive a fine up to $275. Depending on whether your pet is desexed the price for council registration varies from $30 to $190 each year and needs to be renewed annually. The pricing also depends on where you live and what council you register with.

Also depending on your animal’s health their vet bills, procedures, and any other issues can cost roughly $450 per year. In terms of flee, tick, and heartworm chews these should be taken as regularly as the product states which in some cases is monthly. For puppies you can purchase a $75 6-month pack or for small cats a $47 4-month pack.

Pet Essentials Also depending on where you shop and how much you want to spend on your pet, you’ll need to purchase the essentials too. From their beds to food and water bowls, collars, leads, harnesses, scratching posts, toys, and litters it’s stated that owners spend up to $500 in the first year and $100 for every year after that on essentials.

Pet Insurance & Council Registration If you’ve recently received a cat or dog, pet insurance is also highly suggested by veterinarians. There are several types of pet insurance you’ll need to consider for your pet depending on your living situation. These consist of accident-only insurance, accident and illness insurance, and comprehensive insurance (covering for illness and routine vet checks). Pet insurance is a costly $20 to $60 per month depending on what company you choose and what the insurance covers.

It’s also important to invest in secure pet enclosures to make sure your dog or cat doesn’t escape when you need to put them in a safe and small area while you’re otherwise preoccupied. These can be costly and range roughly from anywhere between $130 to $500 depending on where you buy, how big the pen is, and how strong it is.

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PERSONAL FINANCE | Christmas Surprises

Kennels & Fencing

Daycare & Training

Once you own a pet your holidays will become more costly if you don’t have someone to look after them while you’re gone. It varies for different kennels and times of the year, but the average price of boarding rates can be $39 for dogs and $29 for cats per day. That means a weekly stay at the beach will cost you an extra $203 to $273.

For those who work in the office full-time you might need to consider daycare especially if your pet is anxious. Expect to pay between $55 and $70 for one full-day session. The most popular forms of training are puppy school and group dog training classes. Also depending on where you take your dog and where you live the pricing can vary. Although, average prices can cost from $35 to $80 for training classes and $130 to $250 for puppy training.

You’ll also need to make sure your fencing at home is secure for your new pet. This is vital and one of the most important parts when it comes to owning a new pet to ensure their safety. Fencing can vary depending on if you’re fixing a fence or installing a brand-new fence as this can cost anywhere from $2,200 up to $4,000. If you’re selecting the most common and secure types of fencing such as Colorbond and timber fencing these can cost you a large sum of money. For example, Colorbond fencing is $70 to $200 per panel of 2.4 meters wide while timber will cost you $50 to $120 for each meter. Fencing is a major cost but think of it as an improvement to your property and perhaps even the property value.

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You may find that your pup needs excessive walking (or even a run) and between your work and social life you just can’t seem to fit in the time. Then perhaps you will need to hire someone to walk your dog for you. These can cost from $20 to $28 per hour.

Food & Treats It’s best to opt for healthy pet food. You can buy good quality commercially made pet food available from pet stores and grocery stores, or source a local boutique supplier. Depending

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Christmas Surprises| PERSONAL FINANCE

on your dog’s breed, age, and size food prices may vary from $45 per bag if the animal is small and young and up to $150 for both older and larger sized dogs. For cats prices range from $37 for 2-3kg bags, and $133 for 10kg bags. Moneysmart.gov.au states owners can pay up to $800 per year for their pets’ food.

owner. For short haired cats they will only need a fine-toothed flea comb, whereas for medium to long-haired cats you may need to invest in a brush for their coat. To help with the shedding pet stores have a variety of grooming brushes and tools available starting from $20.

Landlords & Tenants

These prices depend on the kilograms so for example if you buy the 3kg bag the price is marginally lower compared to the 12kg bag, but it won’t last as long. You’ll also need to buy treats to spoil and teach your pet tricks which can cost up to $70 for a 1kg bag of nutritional and tasty treats.

The good news if your renting is that you will be able to keep at pet as most States have removed the need for landlord permission.

But you will still be responsible for maintaining the property and restoring the property when you leave. If you are a landlord consider the maintenance needs and insurance for your property where pets are involved.

Grooming Professional grooming will depend on whether you choose a basic groom or a luxurious pamper. Basic grooming can cost $60 to $85 for dogs under 10kg and up to $150 for large dogs at 35kg. As for cats, we know they do a superb job of cleaning themselves, however they still need some grooming from their

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PERSONAL FINANCE | Christmas Surprises

Pets; they will open your heart & your wallet How To Budget However, if you want to save money here are some of our tips to help you reduce your spending’s:

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1.

Take your dog or cat on regular walks for exercise to minimize any health-related issues and extra vet expenses.

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Before heading away on your next getaway ask a friend to pet-sit to avoid kennel fees.

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Learn to wash and trim their fur from online resources to avoid spending money on pet grooming.

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Instead of signing up for monthly repayments on pet insurance consider setting up a new savings account and using it when your pet needs assistance.

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Sign up for loyalty rewards at your local pet stores which will save you 10% on every purchase by becoming a VIP member for free. This will save you money on food, essentials, grooming, treatments, and toys.

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Bulk buying is another way to save. Buy food and litter in the larger size and store until needed.

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Pet Expenses Planner Item

Budget

Actual

Item

Vet Expenses

Pet Enclosures

Micochipping

Kennels

Desexing

Fencing

Annual Check-up

Pens & Gates

Emergency Procedures

Boarding

Flee, Tick & Hear Worming Pet Insurance Pet Insurance Council Registration Council Registration Pet Essentials Bedding Food Water Bowls

Budget

Actual

Daycare & Training Daycare Training Walkers Grooming Grooming & Baths Brushes & Combs Food & Treats Food Treats

Collars & Leads

Rusks

Scratching Posts

Other

Toys Litters

DOWNLOAD THE PLANNER VIA OUR WEBSITE WWW.WFOMAG.CO

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PERSONAL GIFTING | Focus On Giving

giving

FOCUS ON Words Georgie Arnaud

Start your year in the giving spirit. If you’re looking to begin the new year by giving to others and emitting positive energy into the world, we’ve got the perfect answers to your generous dreams. Make a plan of all the ways you’re going to give back throughout the year. Each issue we feature three different charities committed to giving back to people less fortunate than ourselves. So, start your year off the right way sending love to those who need it, because we all hope to receive the same kindness that we give to others this year. You know what they say, “you get what you give.”

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PERSONAL GIFTING | Focus On Giving

ZIG ZAG

YOUNG WOMEN'S

RESOURCE CENTRE We had the pleasure of interviewing the amazing Sonja Ter Horst, Centre Support Coordinator at Zig Zag Young Women’s Resource Centre.

WHAT IS YOUR OVERALL AIM AS A CHARITY?

Zig Zag was established in May 1988, as an initiative of the Youth Advocacy Centre to provide services that responded to the unique needs of young women in the Wider Brisbane region that included responding to issues relating to sexual violence and harassment, accommodation, and the need to create a safe place for young women to obtain advice, support, and information.

Zig Zag provides a range of free, confidential, specialist services to young women and the wider community in the Wider Brisbane, Brisbane North, and Brisbane Southwest regions. Services include counselling, advocacy, and support to young women aged 12 to 25 years who have experienced sexual violence; and medium term supported accommodation, intensive housing support, and mobile support services to young women aged 16-25 years who are experiencing homelessness or at risk of homelessness. We also offer professional training and information resources to the community in appropriately responding to these issues.

Established as a community-based organisation based on principles of feminism and community development, funding was initially allocated for two full-time Support Worker positions. Thirtythree years later, Zig Zag employs eighteen part time workers and is funded to provide services to young women across three service sites at Camp Hill, Nundah, and Richlands.

Zig Zag recognises the diversity amongst young women and we work in a way that promotes safety, and is collaborative, inclusive, supportive, and respectful. Zig Zag is committed to ethical practice and a process of continuous reflection and development that is informed by young women, practice wisdom and shared knowledge.

HOW DID THE ZIG ZAG YOUNG WOMEN'S RESOURCE CENTRE ORIGINATE?

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Start Believing Banner 2021

WHY SHOULD OUR SUBSCRIBERS DONTATE TO ZIG ZAG? Zig Zag relies on the generous donations provided by the community to provide direct brokerage support to assist young women aged 12 – 25 years in areas not covered under Government funding agreements.

This can include supplying basic furnishings and white goods to young homeless women and their children when transitioning into independent housing; providing childcare for young women attending group programs and court proceedings; educational and skills development costs such as driving lessons; and medical costs not covered by Medicare.

Nature Day Event 2021

Zig Zag is committed to helping women out of difficult situations and empowering them to feel supported and capable of independence. To donate head over to the Zig Zag website or to become a part of the Zig Zag team, check the current vacancies listed on their website and create change from within.

Make your donations to Zig Zag Young Women's Resource Centre at www.zigzag.org.au Zig Zag Young Women's Resource Centre

Workers Outreach 2021

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NORTHSHORE

MUM'S SMILE'S2U If you are looking to put a smile on someone’s face this January and help them start their year in high spirits, consider making a donation to Northshore Mums Smiles2U. Northshore mums dedicate their time to providing support to children, adults and carers who visit the emergency room in local hospitals around NSW.

SMILES BAGS NSM Smiles2U provide packs with fun and creative activities for kids during their hospital stay, including puzzles, colouring books and more depending on the age of the recipient.

ESSENTIAL PACKS Essential packs are provided to adult patients with a range of essential items including, toothbrushes, toothpaste, deodorant, tissues and much more.

NSM Smiles2U was created with the viewpoint that when in distress, all it takes is a moment of kindness and care to point someone to the light at the end of the tunnel.

A smile can make all the difference. Their care packages help every day people, our neighbours, our friends, receive some love and support during their hardest times. A lot of us know how difficult it is to stay positive in times of crisis, NSM Smiles 2U are giving people that little glimmer of hope to push through to better days.

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CANCER CARE PACKS NSM Smiles 2U provide both a men’s and women’s themed care pack for cancer patients and loved ones of cancer patients.

Included in the packs is items ranging from bath bombs ad nail polish to drink bottles and socks. The smallest gifts can go a long way in lifting a patient’s mood.

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to support the patient with comfort and care whilst going through a very challenging time in their lives.

NSM Smiles2U is 100% Voluntary funded, they rely on the community and local businesses for support. Without their support, they can't continue supporting the 12 local hospitals in Sydney and on the Central Coast.

"Many thanks for everything you do. Your care pack was much appreciated during my daughters unexpected recent stay at RNSH. It very much helped to distract her during some difficult moments. Your adults care pack was also much appreciated by me. We have paid it forward and thank you for everything you do."- anonymous patient who turned to NSM Smiles2U for help.

NSM Smiles2U was founded by Michelle Key 6 years ago after experiencing a number of hospital visits with her 3 children, there is only so much YouTube and ABC Kids that a child can cope with for hours on end. After months of research and contacting local hospitals to find out what was needed in Emergency, NSM Smiles2U was launched in July.

“A lot of work goes into Smiles2U every day but the reward is huge when we receive lovely testimonials and photos from recipients of our bags and I wouldn’t change it for anything else.” – Founder of NSM Smiles2U, Michelle Key

Smiles2U became a Registered Charity in NSW with deductible gift recipient (DGR) status in 2020 and continues to work towards providing support to anyone is disastrous situations or who just need something to make them smile.

North Shore Mums Smiles2U is a 100% voluntary charity which aims to bring care and comfort to the many children, adults and carers who pass through the Emergency doors of our local hospitals every day. The packages are made to help everyone's needs when disaster strikes. These packs have been carefully put together with items

Make your donations to Northshore Mums Smiles2U at www.northshoremumssmiles2u.com Northshore Mums Smiles2U north_shore_mums_smiles2u

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PERSONAL GIFTING | Focus On Giving

GOT YOUR

YOUR BACK

SISTA

We were excited to interview Founder and CEO of Got Your Back Sista, Melissa Histon.

HOW DID GOT YOUR BACK SISTA ORIGINATE?

I felt a sense of destiny, that I had had that experience for a reason and now it was time to figure out why and what I was going to do about it. I wanted to make real impact. The fire in my belly was lit. Like so many places around the world, domestic violence is a real issue in our community: a problem that no-one has solved as yet. I had witnessed the impact of violence on the girls we had interviewed in Nepal.

As a trained photographer, I had always wanted to go to a third world country to undertake a photography project for a nonprofit organisation. In 2014, that dream came true. I went to Nepal to help make the documentary about the sex trafficking of Nepali women and children.

For the next two weeks, our small team travelled around rural and remote Nepal with the Three Angels Nepal team, visiting the poorest of the poor villages. Three Angels Nepal is wonderful non-profit that rescues girls who have been trafficked and provides them with a place to live and job skills training, so they are not at risk of being trafficked again or falling into prostitution.

I researched the issue in Australia and found a gap to help women rebuild their lives after fleeing domestic violence. At the beginning of 2016, Got Your Back Sista was registered as a charity.

WHAT IS YOUR OVERALL AIM AS A CHARITY? Our vision is to see women and their children happy, thriving and living independently after escaping the trauma of family violence. As such, Got Your Back Sista offers benevolent relief and support to women and children escaping domestic violence and who are at risk of living below the poverty line.

After two weeks of hearing the most horrendous stories from girls and women who had been kidnapped, tricked into going with a trafficker with hopes of a better life, drugged, raped, tortured and worse, I was changed forever. Coming back to Australia I felt compelled to do something: but what?

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WHY SHOULD OUR SUBSCRIBERS DONATE TO GYBS?

Got Your Back Sista is a regional organisation that is having real impact supporting and lifting women to rebuild their lives after fleeing domestic violence. We are not government funded and so rely on the generosity of our community, corporates and individuals who help us to help women and children in need.

Our Begin Again program helps women and children, moving from a refuge or violent home to independent living, to setup a safe home by providing furniture, white goods and household items, plus food and personal care items.

HOW DOES GYBS ENCOURAGE THE EMPOWERMENT OF WOMEN?

We don’t just give women a handout, we give them a hand up! We empower women to thrive by helping them to set life goals and teaching the tools and skills to achieve those goals. We run education courses as a pathway to employment so that they can be financially independent and are not at risk of living below the poverty line.

Our Rise Up & Thrive includes workshops and programs to help women gain the confidence, resilience, support and skills they need to be happy, live independently, achieve life goals, feel socially connected and thrive.

Our Stand Tall Sista program is 6-week selfdefence that empowers women and girls to know what to do if they ever feel unsafe are threatened attacked or abused. It’s a great opportunity to learn about personal space and boundaries and learn tips and techniques to feel safe.

What Can You Do? • Make an individual financial donation • Partner with us for one our Community Campaigns • Nominate Got Your Back Sista as your preferred workplace charity • Hold a fundraiser on behalf of Got Your Back Sista • Donate grocery gift cards, new household items like toasters, linen and blankets, and new clothing.

Our Education Programs provide attendees with basic computer and administration skills.

These skills will equip participants with basic tools to enter the work force assist with entering further education and help family members with school computer work.

Make your donations to Got Your Back Sista at www.gotyourbacksista.com

Our Community Campaigns and Partnerships are integral to engaging the broader community to stand against domestic violence and educate people about healthy relationships.

Got Your Back Sista Gotyourbacksista

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4. A person you engage to buy your home on your behalf 11. A type of loan, usually to buy a house 13. What you might do to an old character home 15. The name given to a person who rents a home 16. Land and buildings that you own are called this 17. Your deposit is banked into this type of account when you buy property 20. You have these when looking for a property 23. What you might take with you to help assess a property 26. You may choose to buy a home because of this 27. What you need to have if you want a bank loan 28. Type of property that you can earn future income from 29. A person who is interested in purchasing property 30. A type of house to escape the rat race 32. A person who is selling their home on retiring

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1. What occurs on the day the sale of property is finalised 2. What you call the inside of a home 3. A type of rental usually for overseas students 5. You may search this to find the name of the property owner 6. You may think this about the price when it is above your means 7. A report a surveyor gives you on appraising your property 8. A person who is divesting themselves of property 9. The work done by a specialist clerk to help settle the property 10. What happens to property when building a house 12. A house that needs work but has a good layout or location is often called a house with this 14. Every Australian's desire to own a home 18. You do this to withstand the temptation of spending 19. When you sell your home, you put it on this 21. A house that you can buy and just walk into is called this 22. A distinctive appearance or presentation 24. The person who owns a rental property 25. Housing prices are affected by supply and the buyer's need wfo31. You usually seek this from a professional

Financial Maze FINDING YOUR WAY ISN'T ALWAYS EASY, BUT YOU CAN ACHIEVE THIS!

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DOWNLOAD THE SOLUTIONS VIA OUR WEBSITE WWW.WFOMAG.CO

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WHERE YOUR SAVINGS GO TO GROW

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