Glen Hare

19/09/2021

A few months ago I made a post about Woolworth's plastic bag victory lap - wondering whether or not they deserved to be advertising their "green" credentials

Fast forward to now and this is the scene at my local woolies

EVERYTHING is wrapped in plastic. There are more fresh fruit and veg wrapped in single use plastic than there are not - this is not an exaggeration

Every piece of plastic is potential pollution

Whether it's a single use plastic carrier or single use celery wrapper is irrelevant

Is this what greenwashing looks like?

Do Woolies deserve to be plastering their plastic bag stats on bus shelters all over Sydney?

I don't think so....

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16/09/2021

Is less than $30 per week enough for clothes?

It is for me

And it should be for you too

I only shop for clothes once per year

It’s strictly budgeted and almost ALWAYS during sale season

So many people clutch their pearls when I tell them this

But

Clothes are one of the biggest contributors to overspending I see while reviewing the finances of Fox & Hare Financial Advice members

Do you *REALLY* need a new outfit every time you leave the house?

I don’t think so

Even worse

So many people sit opposite me exasperated, sometimes to the point of tears

“I'll never be able to afford to live in Sydney”

Or

“I feel like I’ll be drowning in debt forever”

But

They don’t register the effect that $300 per week on new clothes is having on those goals

I spend $1500 per year on clothes and not a cent more

Yes, that’s less than $30 per week

My wardrobe is filled with good quality, long lasting and sometimes even ratty old clothes - the free Nutri-Grain merch I got in 2015 and still wear today is a case in point

Even better my bank account is filled with money

Yours should be too.

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13/09/2021

For some people, saving the deposit is the hardest part of buying property!

BUT

Do you know

💰 Why you need a 20% deposit?

👩‍💼 Which professions can escape the 20% and get away with deposits as low as 10%?

🇦🇺 Which Australian government program could save you THOUSANDS of dollars when purchasing your first home?

I recently partnered with Kellie Landrey from Scoutable Property Agents to put together a guide for potential buyers in Sydney’s (absolutely raging) Inner West!

Check out the full video here:

>> http://foxandharewealth.com/canyouaffordmarrickville/

>> http://foxandharewealth.com/canyouaffordmarrickville/

>> http://foxandharewealth.com/canyouaffordmarrickville/

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12/09/2021

If you could go back and tell your younger self anything, what would it be?

My boyfriend told me that he was actually earning pretty good money for a 20 year old at his job as a bartender in Brisbane

But every payday he would head to Queen St Mall and spend almost everything on clothes 🤦‍♂️

He often laments how much money he wasted during that period of his life and what it could be worth now if he had invested - even a small amount!

Now that we've all matured like fine wines and life is a little more LinkedIn than Insta...

What advice would you give your 20 year old self?

Photo Circa 2011!

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08/09/2021

Can *SAVING* money actually *COST* you money!?

Of course it can!

We all know that a home loan offset account lets you reduce the interest you're paying on a home loan

But what if the amount saved on interest was less than the amount you could've earned by putting that money to work?

With interest rates as low as they are

It's VERY likely that if you

- Used the funds to buy an investment property

- Diversified into the stock market

- Made additional (tax effective) contributions to super

You'd stand to gain significantly more than the amount saved in your offset

It takes time, it takes effort and will involve a little planning

But putting your money to work is essential if you want to get ahead!
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06/09/2021

Should we learn how to budget in high school?

I learned a LOT at St Augustines

SOH CAH TOA, how to play the recorder (my heart will go on no less) and even carpentry

But never how to budget, file a tax return or the importance of compounding interest

At Fox & Hare Financial Advice I meet so many ridiculously talented, intelligent people

Computer programmers, news anchors, lawyers

But it seems like so few of them understand how to properly manage their finances

Should we be teaching these things in school?

What should be the very MINIMUM that we should know and understand by the time we graduate from high school?

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06/09/2021

What do Effie Zahos and I have in common?

Aside from the obvious impeccable dress sense and luscious hair…

We’ve both been featured in Canstar! **

I was lucky enough to speak with the fabulous Maria Bekiaris about the pros and cons of salary sacrifice (if you’re not on a higher income!)

Check out the article through the link in the comments below!

**Of course Effie is the editor and I am a contributor but we can overlook that fact just for today!

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02/09/2021

A vast majority of the gay men I work with present as financially insecure.

It doesn't seem to matter how much they earn or how succesful they are in their respective careers.

A huge number are drowning in credit card debt, have little to no emergency funds and no tangible assets.

But why!?

Things may look great from the outside but an outsized portion of gay men present as financially insecure - regardless of their income.

01/09/2021

Australia is one of the best places in the world to be 🌈

We have legal protection from discrimination, equal marriage rights and enjoy the support and acceptance of a vast majority of our families, neighbours and colleagues.

Even so, 🌈 Australians:

- Earn less our heterosexual counterparts
- Report significantly higher levels of financial insecurity
- Own less property &
- Have more credit card debt

But why?

Why do you think 🌈 Australians report such higher levels of financial insecurity than the general population?

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***an ***r

31/08/2021

EVERYBODY seems to have read The Barefoot Investor

Myself included 😀

Same with Rich Dad Poor Dad

But what other books are out there for Australians looking to level up their financial literacy?

What is the best money book you ever read - or intend on reading?

Let me know in the comments below.

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30/08/2021

If you’re forking out for an outrageously priced Australian property...

Wouldn’t you want to minimise the extra costs associated with that property as much as humanly possible?

There’s three ways you can cut down on costs when buying and saving for property

🏡 Avoid Lenders Mortgage insurance

🏡 Stamp duty concession up to 800k (NSW)

🏡 Budget to pay off your loan sooner!

I recently partnered with Kellie Landrey from Scoutable Property Agents to put together a guide for potential buyers in Sydney’s (absolutely raging) property market.

Check out the full video through the link in the comments below!

29/08/2021

What would you have done with $100,00k at 23 years old?!

Two years ago I sat down opposite a young Fox & Hare Financial Advice member

He had a basic knowledge of the investment process, but no idea what the end goal would look like

"I know my money needs to be working harder, I'll just never do anything about it on my own"

We spoke through the options available and I asked the most important question

"what do you want to do with your money?"

The answer?

"I don't know, I just know I want it to be working for me"

Two years later and he still doesn't know

"maybe I'll buy a house one day, I don't really know"

The difference between his situation now and then?

more than $100,000 in stocks across a domestic & global portfolio

$100,00 at 25 years old!

If he never invests another cent, that account has the potential to be worth more than $200,000* by the time he's 35

If he invests $150 per week for that same ten years? That's potentially more than $300,000* in the bank

The moral of the story?

Being smart with your money IS the goal.

Whatever it is you decide on doing in ten years time

A $300,000 portfolio will make it a hell of a lot a easier!

*Assuming 7% annual growth

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