There are over 29 million pets in Australia with approximately 61% of households owning one of these 29 million pets. Of that 61%, most are dog owners at 40%, followed by cat owners at 27%. In 2019, over 60% of dog and cat owners considered their pet as a member of their family – which means we want to treat them well and keep them in good health for a long and happy life, but at what cost?
As record numbers of Australians transition into retirement, considering your retirement lifestyle, the cost of living and your expected annual retirement income, is crucial in your retirement planning.
For the month of August, growth assets performed well as investor momentum remained strong. Economic data continued to be encouraging with another strong set of US nonfarm payrolls. As the world continues to open up, retail sales for the US, UK and Eurozone are now back at pre-COVID-19 levels, following the worst quarterly GDP declines on record for most countries. Purchasing manager indices remain in expansionary territory. Australian small caps was the strongest performing equity market, returning 7.2% over August whilst overseas hedged investors realised greater relative gains from the continued appreciation of the Australian Dollar.
Taking care of household finances can be taxing, especially if you have a big family. But with proper planning and budgeting, there’s no need to stress.
Here are some tips to help you effectively manage your household finances.