Over the last decade, Australia’s interest-rate environment has been great for borrowers, but increasingly more challenging for savers – particularly those who prefer to hold substantial portions of their savings in low-risk savings options like savings accounts and term deposits.

Aged care can be a tough subject for many families to broach, but as we enjoy longer lives, there’s a growing likelihood that at least part of our final years will be spent in formal care.

The decision to move into aged care doesn’t just come with a raft of emotional issues. There are also financial considerations. That’s because nursing home accommodation can involve substantial costs, especially for self-funded retirees.

The ATO has begun issuing determinations to individuals who exceeded their concessional super contributions cap for the 2017-18 financial year. These determinations will also trigger amended income tax assessments and additional tax liabilities. Individuals can elect for the ATO to withdraw their excess contributions from their super fund to pay any additional personal tax liability. The key is to be aware of the time limits and avoid the pitfalls when making elections to release excess contributions.

Small savings goals are important, but are you really going to save for a house deposit or a Europe trip in takeaway coffees alone?

Here are six substitutions to make on things you’re already buying – that could save you thousands per year.

The festive season is a time in which many of us practice the Three R’s (Relaxation, Rejuvenation and Reflection). In addition to this, there is an important message to be had, which resides within the festive season spirit, and what it seeks to embody and impart upon us.