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App Offers Cheap Financial Advice

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If you’re used to getting financial advice by advisors and paying by the hour, that may soon change with a new app that allows consumers to pay per question instead.

The smartphone developer Crowd Mobile is developing the app to allow customers to consult financial experts remotely from their phones and it costs less than $10 per query.

Crowd Mobile chief executive Domenic Carosa explained the notion of bringing experts into your home for less.

The app benefits consumers by putting professional financial advice within their grasp and helps people in the financial industry make extra cash.

Source: http://www.sbs.com.au/news/article/2016/04/11/app-offers-financial-advice-under-10



Financial Week Ahead and Impact on Jobs

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According to the latest financial reports, job growth is solid in Australia and is expected to remain so.

Economists are positive about the future of employment with 15,000 new jobs being added in March.

There has also been an increase in the  number of people looking for a job, which may increase unemployment figures from February’s 5.8 per cent.

The Reserve Bank will publish its semi-annual Financial Stability Review (FSR) on Friday. Find out more at: http://www.abc.net.au/news/2016-04-10/focus-on-chinese-growth,-australian-jobs-and-us-profits/7314086



Accountants Called in to Train Next Gen Private Equity Leaders

trainingAn accounting firm has reached an agreement with the Australian Private Equity and Venture Capital Association (AVCAL) to train future venture capitalists.

Through the partnership, the accounting company Crowe Horwath agreed to provide foundation level private equity education to AVCAL members. The ‘Private Equity 101’ program has been described as critical to the industry.

In an article on MoneyManagement.com.au the importance of the program was discussed, preparing the next generation of leaders for the industry also helping them foster strong networks for the duration of their career.

Find out more at http://www.moneymanagement.com.au/news/accounting/accountants-called-train-next-gen-private-equity-leaders



High Wage Increase no Good for Australian Youth, ACCI Warns

min wageThe Australian Chamber of Commerce and Industry (ACCI) has urged the Fair Work Commission to increase the minimum wage by no more than 1.2 per cent or $7.90 per week which would make the minimum weekly wage $664.80.

Thousands of unemployed Australians, most of them young people will be disadvantaged if the minimum wage is raised too high, the ACCI explained.

The peak body has called for a more “job-friendly” approach to the minimum wage to avoid impeding access to jobs or training opportunities.

Youth unemployment is at 12.2 per cent, which is twice the national unemployment rate of 5.8 per cent.

The Fair Work Commission’s decision on the new minimum wage will come into effect from July 1.

Find out more at https://au.finance.yahoo.com/news/wage-increase-no-good-youth-011951097.html



Federal Government Considering Audit of Training Providers

moneyThe federal government is considering an audit of training providers to crack down on rorting of the $1.6 billion VET FEE-HELP loans scheme by inflating course fees.

Evidence recently emerged of pricing disparity between fee-for-service and VET FEE HELP courses offered by a number of RTOs (Registered Training Organisations) in the country.

Taxpayers are having to fork out up to 400 per cent premiums to foot the bill to training companies with government loans, with many of them never being repaid.

Since the deregulation of the VET FEE-HELP scheme, we’ve seen a huge increase in for-profit, private education providers as well as a decline in quality across the industry. Completion rates for students are terrible with around 7 per cent completing their course.

Source: http://www.news.com.au



How to Answer The Most Awkward Interview Question

moneySo you completed your financial training and landed an interview at your dream job, but you’re still not sure what to expect.

If it’s your first interview you’re probably a little more nervous, but even seasoned interviewees dread that one awkward question that your interviewer is sure to ask, “What are your salary expectations?”.

Most people don’t know whether to be honest, aim to high or aim lower or simply don’t answer at all.

According to people in senior positions, it’s important that interviewees are realistic about what they ask for. See more at http://www.news.com.au/finance/work/careers/how-to-tackle-the-awkward-but-crucial-salary-expectation-question-in-job-interviews/news-story/5493ad8eef959730c47ff9523e6735e3



Could Finance Field Attract the Most Psychopaths ?

ceoSomeone sat down and researched which profession actually attracts the most psychopaths and its CEOs followed by lawyers.

Although psychopaths make up only 1 per cent of the population, they appear to be most common at higher levels of corporate organisations particularly in positions where their actions can have a ripple effect.

The Hare psychopath checklist, developed in the seventies, says psychopaths are identifiable by their lack of remorse for destructive acts and lack of empathy. They also tend to be impulsive, manipulative and sexually promiscuous.

They are likely to be found in places where they can asset their dominance such as in the courtroom or the operating theatre. They are often CEOs, salespeople and media personalities.

Source: https://au.finance.yahoo.com/news/10-professions-which-attract-the-most-psychopaths-034144524.html



Study Reveals Sexism Common in Financial Sector

women moneyAccording to a new study of accounting firms, gender discrimination is rife in the financial sector, with women often passed over for promotions based on their gender.

The study was conducted by the University of New England’s business school and found that females were perceived as unreliable because of their family commitments.

Male heads of companies in the sector often showed concern that child-rearing may result in disruption so they prefer to promote men over women.

Read more: http://www.smh.com.au/nsw/une-study-finds-sexism-rife-in-financial-sector-20160312-gnhlps.html#ixzz430oIit62 

 

 



Research Shows Australian Women More Stressed Out about Money

moneyNew research shows that young Australian women in 2016 are more anxious and stressed and most of their woes are due to money problems.

Reports commissioned recently by 2 major banks show that young women aged 18 to 29 were “by far the most anxious” Australians. A key contributor to this anxiety are financial worries.

According to the report commissioned by Westpac, women’s salaries peak at age 31 while men’s peaked at 39, so there is little hope of the future getting better for females in Australia.

Read more at http://www.news.com.au/finance/economy/australian-economy/australian-women-are-stressed-about-money-and-with-good-reason/news-story/0cc76672ab6e04ae9e147eb8d1343a62



Are You More Money Smart than a Kiwi Teenager?

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A recent test evaluated 16 to 19 year olds in New Zealand and found that these teens were good at identifying risks and money but have a lack of skills around budgeting and financial management.

The test undertaken by Massey University’s Fin-Ed Centre was developed by high school teachers for an annual financial health check.

Budgeting was a particularly poorly scored part of the test. The average score was 37 out of 100.

Financial knowledge was also bad, saving and investing were particularly bad areas where the average score was just 45 out of 100.

Read more at: http://www.nzherald.co.nz/personal-finance/news/article.cfm?c_id=12&objectid=11595323




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