eToro is a social trading network. It’s a bit like if you combined a social network like Facebook with a trading platform. On eToro traders can share the trades they make, and copytraders can automatically copy these trades. In this post I’m going to break down how copytrading works and whether its a good way to invest your money.
Coinbase is one of the worlds most popular places to buy bitcoin in the world. But is it a great option for buying Bitcoin if you’re Australian? We look at some of the pros and cons of Coinbase.
Buying Bitcoin on Coinbase
Coinbase is one of the easiest places to buy Bitcoin. They have done an excellent job at making the entire experience straight forward. So even if you’re brand new to Bitcoin, you’ll have no trouble buying. Coinbase also offers a good cloud wallet for storing small amounts of Bitcoin, that is considered to be quite secure.
In Australia, Coinbase only lets you buy Bitcoin with a credit card. This has some upsides and downsides. On the positive side, it means you can buy Bitcoin instantly. It’s no harder than online shopping. The downside is they do limit the amount you can buy each week and there are also some fees you need to be aware of…
Living a frugal lifestyle is not something that just happens overnight. But over time you can make lots of little changes that will all add up to more money in your bank account. Here are some my top tips for living a frugal life, let me know your tips in the comments.
Get your finances in order
- Start Investing and not just Saving – Using a “savings” account to save money over the long term isn’t very smart. You actually end up losing money due to inflation and the low interest rates. You’re better off investing. There are lots of different ways to start investing and the good news is you can start with as little as $10.
- Setup an Emergency Fund – An Emergency fund will help you in the future when unexpected expenses come up. Setting up an emergency fund is simple and is something all young people should do.
- Set yourself saving goals – It’s hard to be frugal if you’re not working towards a bigger goal. My partner and I recently decided to buy a house together. So we have a goal of saving the deposit. This energised my saving efforts. Come up with a bigger goal that you want to work towards and record your progress over time.
- Pay off your debts – Before you start investing or savings, it’s often smartest to pay down or pay off completely your debts. It’s easy to put them to one side and forget they exist, but you’ll be much happier if you actively try and work on any debt.
- Stop gambling – Gambling in Australia is a huge problem for many young people. In the long run, you’re never going to make a profit gambling. There are services available to help you stop gambling – even if you don’t think it’s a problem. If you want to gamble, do it on something like Bitcoin where at least you have a chance of making money in the long term.
Christmas can be a very expensive time of year. But did you know you could be saving up to 20% off what you would regularly pay, by using this one simple tip!
Doing so could save you hundreds of dollars. So read on to find out more about Cashback and how it works.
Many people believe that investing is something for the rich or financial experts. The reality is though that anyone can start investing, and you don’t even need a lot of money. You can start investing in stocks and bonds with as little as $5. And you can even do it without being charged any fees! So read on to find out why you should be investing and how you can do it too, even if you’re broke.
Index funds are a low cost, diversified way to invest in the stock market. The reality is that most retail investors who try and pick stocks on their own will end up either losing money or not beating the market index. That’s why index funds are a great option for investing. They’re hands off and contain a well rounded selection of stocks. And the numbers don’t like – individual investors see better returns when investing in index funds!
So how do you invest in these type of funds? Well here are our favourite options for investing in index funds for Australians:
eToro is a trading platform that is available in Australia. You can trade stocks, currencies, cryptocurrencies, commodities and ETFs. But is it a good option for investing and trading? We break down the pros and cons.
What is eToro
eToro is an online trading platform. You can buy and sell stocks, forex (currency like the AUD), cryptos (like bitcoin) and commodities (such as Gold and Oil). It’s also a “copy trading platform”. This means you can copy trades made by more experienced traders. Whenever they make a trade, your account also makes a trade.
This September, investing app Raiz is giving away $10 for new users. Read on to find out how to claim this bonus.
What is Raiz?
Raiz is a micro-investing app. This is where you automatically invest small amounts at regular intervals. You won’t notice the small amount of money getting invested, but over a long period it really adds up! You can easily save $1000+ each year. Your money gets invested in a diverse portfolio of stocks and bonds.
Before you book your holidays for this year – make sure you read this post. It could end up saving you hundreds of dollars!
Did you know that you can earn Cashback on the hotels you book? Here’s how:
Earn Cashback on Travel with Shopback
There are a number of Cashback sites out there, but I’ve found that best one for travel is Shopback. That’s because you can earn on Cashback when you book through some of the most popular booking sites. For example, while booking my summer holiday this week, I managed to get back over $140 on my hotel booking through Agoda.
It’s tax time! Thankfully these days submitting a tax return is super easy for most people. And a lot of you will be getting a nice little tax refund. So what are some smart things you can do with your return? I’ve put together 5 of my ideas, let me know in the comments if you have any ideas of your own.