Tag: Financial Planning
-
Toronto-area Lawyer Faced Large Overspending After Mental Health Episode
Overview A 44-year-old lawyer in the Toronto area, identified here as Ella, recently faced a significant financial setback after a mental health episode triggered an abrupt and substantial overspending spree. In response, she canceled several credit cards, taking an important step to regain control of her finances. The case highlights how mental health can intersect…
-
Mental health episode drives overspending: a Toronto-area lawyer’s debt rescue story
The turning point: a mental health episode and a surge in spending In a high-pressure profession like law, mental health challenges can ripple into every aspect of life. For a Toronto-area lawyer aged 44, a sudden mental health episode triggered a period of rapid and unplanned spending that left her with a daunting financial pile.…
-
Will Paying for Family Holidays Trigger an Inheritance Tax Bill? Practical Guide
Can Paying for a Family Holiday Trigger Inheritance Tax? Many families consider paying for a loved one’s holiday as a generous gesture. But when you’re thinking about a lump-sum trip or ongoing family travel, it’s natural to wonder: could this move you into inheritance tax (IHT) territory? The short answer is usually no, but there…
-
When the Stable Path Isn’t So Stable: Fresh Graduates Turning to Startups Amid Job Uncertainty
The Shifting Why Behind Graduates’ Careers For years, the conventional route for fresh graduates has been to secure a stable job, climb the corporate ladder, and gradually build a financial cushion. But in Singapore, a growing number of new degree holders are choosing a different path. Faced with persistent job applications that yield little or…
-
Why Singapore’s Young Adults Are Saving More Than Their Elders: Insights From UOB Data
Overview: A Generational Shift in Singaporean Savings New data from United Overseas Bank (UOB) suggests a notable shift in how different age groups in Singapore approach saving. Contrary to common assumptions that older generations have the strongest savings, younger Singaporeans are increasingly prioritising savings, investments, and financial security. This trend reflects a combination of heightened…
-
ANZ lifts NZ home loan rates as RBNZ stance tightens mortgage market
ANZ raises home loan rates amid shifting NZ mortgage landscape New Zealand’s largest bank, ANZ, has announced an increase to its fixed home loan rates, joining a broader move by lenders as the Reserve Bank’s current stance filters through the mortgage market. The decision to lift 18-month and two-year fixed-rate offerings by 20 basis points…
-
Pensioners Face £800-a-Year Hit If Tax Threshold Freeze Is Extended in Reeves Budget
What the proposal could mean for pensioners As Chancellor Rachel Reeves prepares her Budget, a key policy question stands out: whether to extend the freeze on the income tax personal allowance. Critics warn that extending the freeze would leave tens of thousands of pensioners and other taxpayers stuck in a higher tax band for longer,…
-
Why a Bank Director Earning $88k a Month Could Have Only $13k in Savings
Understanding the paradox: high income vs. low savings It’s a common assumption that a lucrative salary automatically translates into substantial savings. Yet many high earners find themselves with modest balances when life events—like divorce—change their financial picture. A bank director earning about $88,000 a month illustrates this paradox: a large paycheck does not always equal…
-
Why a Bank Director with a Big Salary Had Low Savings: The Hidden Cost of Lifestyle Inflation
Introduction: When a Big Salary Doesn’t Translate to Big Savings It’s a common paradox: a person earns a substantial monthly income, yet savings appear scant. A case in point is a bank director who drew more than $88,000 per month in salary but reported only about $13,000 in savings during a divorce settlement. This situation…
-
Facing Medical Bills in Australia: A Personal Frustration with Public Health Costs
When public healthcare feels out of reach Australia’s public health system, praised for its universal coverage, can still feel out of reach for many. Even with Medicare, patients often face out-of-pocket costs that sting, especially after a serious health event. The anxiety isn’t just about the numbers on a bill; it’s the disruption to daily…