Money Magazine December 2016

‘The ideal Christmas gift is money, but the trouble is you can’t charge it —’ Bill Vaughan, American columnist and author 1915-1977 Where did this year go? Well, if you believe French psychologist Pierre Janet the reason this year has gone so fast is because you’re a year older and as each year passes the next year becomes a smaller proportion of your total lifespan. So when you’re five, a year represents 20% of your life; when you’re 50, it’s a measly 2%. This made complete sense to me until my 10-year- old asked me the very same question. As we unwind, and for those of us lucky enough to be on a summer holiday, now is the time to reflect on how your finances fared in 2016 and, more…

In praise of a simple life I found Paul’s column on a simpler lifestyle (In Your Interest, October and November) so refreshing. My husband and I earn modest incomes, have two young children and enjoy a really good life. We decided a long time ago that there were two ways we could become richer: earn more or want less. We still try to save and invest wisely for the future but the thing that has made the most difference to our lives is the wanting less. It’s hard in this world full of “must haves” and the prolific buy-now-pay-later attitude but I agree with Paul that most of us need to readjust our approach and expectations both now and in retirement. Thank you for your wonderful magazine. I get so…

Thank you for your travel awards articles (“Ready, set … and now you can go”, November). As I am now retired and my wife, after 45 years in the education profession, is retiring this year, we are really looking forward to a bit more travelling, albeit balancing the joys of being doting grandparents with the possibilities of lengthy absences. Anyway, on a recent trip to the US and Canada we took travel cards, preloaded with the appropriate currencies. The only mistake we made was to use them for “holding deposits” for the sea cruise and hotel accommodation. The way a holding deposit works is the amount of deposit is “held” against your funds and even though your account is not debited the funds are unavailable to you until the holding…

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EFFIE ZAHOS Money editor Effie says: “Had a good laugh when my son gave his sister small change for Christmas. Literally 75 cents in an envelope. The best gift I’ve received, though, is letters from my children outlining why I’m the best mum. Not sure how they came up with the methodology for this award but I’m more than happy to take the title.” MARIA BEKIARIS Maria is Money’s deputy editor. She says: “When I was about eight my parents bought my sister and I with a swing set for the backyard. That brought us countless hours of fun over the years. Then of course there was the gift my daughter surprised me with last year – a Scholl Velvet Smooth Express Pedi – for my (in her words) ‘dirty…

EDITORIAL Chairman & chief commentator Paul Clitheroe Editor Effie Zahos Deputy Editor Maria Bekiaris Art Director Ann Loveday Deputy Art Director Tim Verrender Designer Young-Sun Hwang Senior Sub-editors Bob Christensen, Janice Hogg Senior Writers Susan Hely, Pam Walkley Staff Writer Steph Nash Online Content Producer Sharyn McCowen CONTRIBUTING WRITERS Chris Batchelor, Nicola Field, Peter Forrestal, Adam Gee, Ross Greenwood, Sam Henderson, Greg Hoffman, Deborah Light, Roger Montgomery, Anthony O’Brien, Marcus Padley, Vita Palestrant, Richard Scott, James Whitbourn CONTRIBUTING ARTISTS Andrew Finlayson, Reg Lynch, Rodney Macuja, Jim Tsinganos, John Tiedemann PHOTOGRAPHS Getty Images, iStockphoto ADVERTISING NSW & Vic Peter Balinski (02) 9282 8075 Queensland Nikkola Hogan (07) 3101 6636 South Australia Jo Moroney (08) 8267 5032 Western Australia Vikki Stacy (08) 9449 9908 PRODUCTION Controller Rosanna Quinzon Advertising Production Dominic Roy…