Are you making smart financial choices?


Making smart financial choices can be difficult. You need to consider tax laws, super rules, Centrelink – and the list goes on. What’s more, once you’ve made your choice you’re usually stuck with the outcome, for better or worse.

Imagine if you could easily go back and try again if you weren’t happy with the outcome of your choices. That’s exactly what the Choices interactive experience allows you to do.

It gives you the opportunity to put your financial know-how to the test by helping five animated couples make smart financial choices when facing realistic scenarios.

Meet the couples

Bruce and Shelley. Try to keep their age pension

From 1 January 2017 the Centrelink assets test for the age pension is changing and many people are set to lose all or some of their benefits if they don’t reduce their assets.

Should Bruce and Shelley go on a holiday or gift some money to their child? Or perhaps they should renovate their house or transfer some money to super? You choose!

Natalie and Carlos. Mortgage paid off, now what?

Mortgage repayments are most people’s biggest expense so when it’s paid off the extra money is a big bonus. What would you choose? Splurge it or save it?

Tina and Dave. Coping with costs after an injury

Most people have insurance as part of their super plan but don’t know what it covers, if it’s enough and any restrictions that may apply. See what happens to Tina and Dave when they find themselves in some very unfortunate circumstances.

Carol and Chung. Timing their retirement

Deciding when to retire involves thinking through many factors including tax, super, cash flow and, of course, doing the things you’ve always wanted.

Should Carol retire at 57 or 60? And should she take her super as a lump sum or a pension? See how Carol’s decisions not only affect their finances but their lifestyle goals too.

Jen and Tom. Moving into Aged Care

There comes a time when empty nesters consider downsizing. For some, this will mean moving into more suitable accommodation for health or age reasons.

Help Jen and Tom with their living circumstances including decisions around Tom’s move into Aged Care accommodation. Should they sell or keep the family home?

Take the challenge

Visit the Choices interactive experience today and see how you go helping one, or all, of these animated couples make smart financial choices. You’ve got nothing to lose and everything to gain.

Take the next step

To discuss the complex financial choices you’re facing, make an appointment with a Bridges financial planner. We have an established alliance with Bridges, to provide our customers with financial advice. Bridges has been helping Australians prepare for their retirement for 30 years.

A Bridges financial planner will develop a plan specifically for you; one that’s tailored to your needs and circumstances, to help you achieve your goals, both in the lead up to retirement and during retirement.

To make an appointment with a Bridges financial planner, call 1300 65 65 81. The initial consultation is complimentary and obligation free.

Bridges Financial Services Pty Ltd (Bridges). ABN 60 003 474 977. ASX Participant. AFSL 240837.
This is general advice only and has been prepared without taking into account your particular objectives, financial situation and needs. Before making an investment decision based on this information, you should assess your own circumstances or consult a financial planner or a registered tax agent. In referring members to Bridges, Northern Inland Credit Union does not accept responsibility for any acts, omissions or advice of Bridges and its authorised representatives.
Examples are illustrative only and are subject to the assumptions and qualifications disclosed.
Part of the IOOF Group.

How to create a financial safety net for your health


What is the biggest potential threat to your family’s financial security?

If you think the biggest threat to your family’s personal financial security is premature death, then think again. Unfortunately, total and permanent disablement can happen to any of us and the financial impacts may be greater than you think.

Read more…

Help your children buy property without risking your retirement


It’s natural to want to give our children a helping hand into the property market.

Soaring property prices during the last couple of years have put a spotlight on the difficulty that younger generations have in entering the property market. While continuing low interest rates provide some impetus for young people to enter the market, the challenge of saving for a sufficient deposit and qualifying for sufficient finance has meant many will turn to their parents to assist them in purchasing a property.

Read more…

The 5 golden rules of investment


You don’t need luck or a hot tip to have a successful investment plan. Just follow some simple guidelines to achieve the best results. Here’s how!

Recent research has shown that Australia has an insatiable hunger for gambling that puts us first in the world in terms of losses per head of population. This desire for a quick win can sometimes carry over into our attitudes on investment.

Some of us tend to look at investing as being all about finding a ‘fast track to instant riches’, such as a hot tip for the next big share market bolter or where to buy investment property. Others will be fixated on seeking clever ways to take advantage of the tax system to make it big.

Fortunately, the real ‘secrets to success’ in investment are much simpler. Here we identify five basic principles that anyone can apply to achieve great results, even if you are starting with limited resources.

Read more…

Choosing a Financial Planner


The earlier you start a regular plan of saving and investing, the better. A financial planner can provide specialist advice on strategies and products for wealth creation, superannuation, retirement and investments such as shares, managed funds and property trusts. We share some important factors to consider when choosing a financial planner.

Read more…

Are you prepared for the looming pension changes?


On 1 January 2017 up to 326,000 pensioners may have their entitlements reduced. So who is affected and what can they do about it?

A recurring theme in recent years from our federal legislators has been the question of sustainability of the age pension. Changes to retirement ages have been seen as necessary by both sides of politics and other changes to reduce budget costs are no doubt on the cards.

Read more…

How much is your mortgage costing you?


Q: Real quick – have you got a mortgage?

A: Yes?

Well, how much interest are you paying on it?

Are you using all the loan features to your advantage?

Don’t feel bad if your answer is “I don’t know”. We see a lot of people who’ve had their mortgage for a few years and forgotten how much they’re paying and how it works. They set it up to come out of one of their accounts when they started, and everything’s happened in the background since.

Read more…

Why choose Northern Inland


Why us instead of a traditional bank?

We’re like a bank…but we’re not a bank

On a day-to-day financial level, we offer the exact same sorts of services and products as the banks you’re used to dealing with. Savings accounts, term deposits, foreign currency, insurance, business banking, credit cards, personal loans…and, of course, home loans. You’re not missing out on anything by joining Northern Inland.

We’re local

Tamworth, Gunnedah, and Narrabri – that’s where our branches are, and that’s where we operate, so we’ve got a laser-like focus on the region. Our Members aren’t stuck with practices and policies that were made for Sydney and Melbourne; nor are we insulated by distance from our decisions. Northern Inland offers an almost bespoke financial service for the people of northwest NSW.

We’re fast

Our entire head office is just behind the branch in Peel Street, Tamworth. Unlike other financial institutions, whose support staff may be spread around the country or even overseas, we can approve things like loans quickly on-site. Being small means we can move and react quickly to Member requests and enquiries, and offer up replies from our key management staff.

We’re experienced

We have over 40 years’ experience handling the financial needs of people of the northwest, firstly as three separate credit unions: Namoi Credit Union, Oxley Mutual Credit Union, and Tamworth Community Credit Union. Northern Inland was then born in 1988, following the merger of these three credit unions.

We’re all about you…

Private individuals are our bread-and-butter, not just a garnish. Our service and existence is due to Members like you. We’re not investing in giant construction projects in Dubai, or factories in China, or mines in Argentina. We invest in our local people and local investments in our community.

…because we are you

As we’re fond of saying: our customers are our owners, and our owners are our customers. Like any business we have to appeal to both. It’s just so much neater and easier to do that if owners and customers are one and the same: Members. And that’s the secret behind our great service and low rates. We never have to rob Peter to pay Paul. Every Northern Inland Member gets a vote at our Annual General Meeting; every Northern Inland Member has a say in how we’re run. And this ownership comes with a host of rewards in the form of our Member Loyalty Program.

Join us. Switch over to Northern Inland, and don’t just be a customer – be a Member of a credit union that’s all about you.

AFSL and Australian Credit Licence 235022

Any advice or information on this site does not take into account your personal objectives, financial situation or needs and you should consider whether it is appropriate for you. Please review our Disclosure Documents, Financial Services Guide and Credit Guide before acquiring the product.

Buy then sell? Sell then buy?


Ideally, you’d sell your house one day, and move straight into your new home the next, and this would all happen on a long weekend.

But, unfortunately, the complexities of the market, buyers, sellers, agents, removalists, conveyancers, government, and a thousand little other things all interacting with each other means that stars in the new home universe rarely align.

There’s either going to be some gap or overlap, depending on if you have to (or want to) to buy before selling your current house, or sell before finding a new home.

Read more…