February 2021


Deciding to invest in a rental property is an exciting time. It can also bring a lot of emotional and financial stress to the investor. That’s why it’s important to make sure you understand the market, and all the ins and outs of investment properties before spending hundreds of thousands of dollars. If you are just starting out on your investment journey, here are a few tips to get you started.

Know What It Takes to Be a Landlord

Managing a property comes with repairs and being able to fix common issues yourself will save you a lot of money in the long run. If you don’t already have a basic understanding of how to maintain and care for a building, take time to learn all you can before investing. Eventually, you might be able to hire outside help, but especially if you are just starting out, being to take care of problems yourself is advised.

Pick the Right Location

So much of real estate is about location. You might find a great property with all the amenities you’re looking for, but if it’s in the wrong location it could be a total flop. When looking for a property consider the school district, local amenities such as parks, pools, and shopping malls. You should also consider the property tax of that area and make sure you will be able to keep housing affordable and accessible. Steven Taylor Los Angeles said, “Providing safe and affordable housing is one way to give back to your local community”. Choosing the right location can be the difference between a help and a hindrance to the community.

Secure Your Finances

Before making an investment as huge as a rental property, make sure your own finances are in order. Pay down any personal debt you have, secure a down payment for your property, and make sure you have plenty of money in savings for unexpected costs that may come up. In addition to saving, make sure you’re aware of potential income opportunities as well. Landlords, such as Steven Taylor LA, are often eligible for tax breaks related to their business and properties, so make sure you do your research ahead of time. Don’t let any potential financial benefits go unused.

These are just a few of the many things to keep in mind when beginning your investment journey. Don’t rush the process and jump into an investment. It’s important to do your research and feel confident and empowered as you step into this new adventure.

Just when you thought it was time to relax after a hectic Christmas and holiday period, back-to-school purchases enter the picture.

For many December and January can be less about the joy of gift-giving and holidays, and more about thinking about their budgets. Mainly about how they can stretch their budgets across Christmas, school holidays and then back-to-school costs for the kids, without becoming financially stressed.

While education related expenses can vary across schools and states, they are once again on the rise throughout Australia. Due to the increase of technology used within schools now, 2021 school related costs have increased by 10 percent since 2020.

However, if you are located in NSW and mainly the CBD, where residents are still dealing with outbreaks of COVID-19, you are set to save more on back-to-school costs. Why? Because many residents are choosing to avoid shopping centres, due to the outbreaks, in favour of online shopping, which is currently one of the top ways to save money on educational expenses.

Considering online shopping instead of in-store shopping will save you petrol and time, plus it stops you from grabbing all of those extra little items, you think you need, but really you don’t. It also allows you to compare larger costly items across various retailers, so that you can get the best deal. You can also use a click & collect option to save on delivery fees if you don’t have access to free delivery.  This is also a lifesaver when purchasing tablets or laptops, as this can be the hardest place to save, and the costliest. Technology has actually played the largest role in the increasing of school expenses, with parents spending an average of $284 a year on school related technology, according to Big W’s annual back to school report, conducted by YouGov. They also pointed out that the older your child gets, the most the costs increase, so it is ideal to save where possible.

Shopping around online will not only save you money, but it will also save time and your sanity. Residents of Sydney and the surroundings are turning online and saving hundreds, so if you are thinking of shopping in-store this year for back to school, you should reconsider.

However, the rising costs of educational expenses can still be stressful if you haven’t budgeted for that extra 10 percent rise in costs. An option to help assist with that extra 10 per cent of back-to-school costs is a quick cash loan. This is a great option if you just don’t have that extra amount on hand at the time you need it. The best part about a quick cash loans is that unlike a regular bank loan, there is not mountains of paperwork and long waiting periods. As long as you meet the necessary criteria, including secure employment, you can have your quick cash loan in your bank account on the same day.

The only thing you must be sure of when getting a quick cash loan, is to ensure that you are lending from a reputable and trustworthy lender, such as Spondooli. Spondooli specialises in providing quick cash loans, as a reliable lender, in the times you need them most.

This year instead of worrying about not budgeting for that extra 10 per cent of back-to-school costs, stress less and get a quick cash loan from Spondooli.

Trauma insurance, which is also known as Critical Illness insurance, covers specified, serious conditions.

Owing to the current global pandemic, there have been many asking the question: does trauma insurance cover me if I am infected with Covid-19?

The answer is ‘no,it does not cover Covid-19’.

Aspect Underwriting’s Trauma insurance provides a lump sum amount to the insured for 11 pre-defined medical events, which does not include viral diseases like Coronavirus 2019(Covid-19).

Insurance agencies or underwriters provide product disclosure statements (PDS) that outline coverage details of their insurance products.If you have purchased a Trauma or Critical Illness policy as a standalone cover or as part of insurance bundle, you should refer to the PDS that came with the policy.

Trauma insurance is usually purchased with other similar products such as Income Protection, Accidental Death, and/or Total & Permanent Disability. These products can all be purchased standalone or you may select two, three or all four together. Each of them cover specific circumstances, their payouts differ from each other and do fit together to provide a great deal of protection.

Trauma insurance, as the name suggests, covers serious medical conditions and pays a lump sum benefit upon diagnosis of such a condition.

The most common trauma insurance claims are made for cancer, heart attack, coronary bypass and stroke. However, Aspect Trauma Cover provides extensive medical cover including 11 critical illnesses, that if diagnosed have potential significant financial implications over and above medical costs.

The 11 critical illness covered by Aspect Trauma Cover incudes angioplasty, Aorta surgery, benign brain tumour, cancer, coronary artery by-pass surgery, heart surgery, heart valve replacement or repair, kidney failure, major organ transplant, multiple sclerosis and stroke.

Trauma Insurance will normally cover those 11 critical illnesses, however by pure nature it doesn’t include a viral disease such as COVID-19.

There are many trauma products on themarket, and they are unlikely tohave Covid-19 under the list of medical events covered by the policy.

However, if you contract coronavirus and that leads to severe complications such as a heart attack, stroke or kidney failure, among others, the trauma policy should respond.

So, to summarise, Trauma or Critical Illness insurance do not cover Covid-19directly but it covers all the critical illnesses listed in your policy even if those ailments develop after you have been infected with the Covid-19 virus.

Inclusion of medical events covered by Trauma or critical insurance differ from one insurer to another. Refer to the PDS provided for all the medical events covered by it and if unsure,always contact your insurance provider.

Debt collection occurs when creditors want to secure Commercial Collection Services from a person or businesses, that they have previously been unsuccessfulin obtaining. Once the creditor cannot get their payment from a debtor even after multiple attempts,they will usually get a debt collector involved.Hiring a professional will save you from the headache of chasing the debtor, and a debt collection agency will have more experience and skill in this area.

A debt collection agencyalways needs to know and be aware of the legal obligations within their field. The Australian Competition and Consumer Commission (ACCC) and Australian Securities and Investments Commission (ASIC) has jointly produced a debt collection guideline to assist creditors, collectors and debtors in understanding their rights and obligations. These guidelinesare to ensure that alldebt collection activity is carried outconsistently and in linewith consumer protection laws.

However, what if a debt collector is also struggling to get the payment from a debtor, what can they do within the law, from here?

  1. Final Notice Letter

The first thing that a debt collection agency will do is send a final letter of notice to the debtor, to advise them that this is final notice of payment. This will normally be after they have received 2-3 friendly reminders already, through either email, letters or a phone call.

  1. Letter Of Demand

If a debtor doesn’t respond to the notice or the response is not good enough according to the debt collection agency, then the next step a debt collection agency will likely take is to send a letter of demand asking for immediate full payment. Until the debtor paysthe debt in full,they will keep receiving calls or emails from the debt collector within the legal obligations.

However, if you can’t make the full payment, you can talk with them to negotiate payment options.

  1. Negotiating Payment Plan

A debt collection agency will likely negotiate a payment plan with a debtor, if their response is that they cannot pay it all upfront. The agency will always be willing to help find a suitable payment method for you, as all they want it for you to pay, no matter how it goes about. There are various types of negotiations when it comes to payment that you can expect, including signing a legal repayment agreement with regular instalments, or a discount if you pay immediately.

  1. Legal Proceedings

If you don’t respond to any notices or demands, or if the debt collector feels that negotiation plans aren’t working,they will start legal proceedings.

They will collect all the necessary documentation required to get back all debt and take you to court. This will usually increase the amount you owe, as it won’t just be the debt amount, but the debt collection agency will file a “Statement of Claim” for the debt amount, debt collection costs and interest of the debt, for you to pay.

Once a court proceeding has commenced, you will have 28 days to pay the debt or file a defence. The debt collection agency can ask a court to pass a judgment against you if you don’t show up tocourt.

  1. Affect Your Credit Rating

If the court passes judgment against your or your business, it will be recorded on acredit reportas a default which will impact your future ability to take loans or get a credit card, until the judgment is removed. You will need to talk to the debt collection agency and come to an agreement to remove a default or take legal action.

  1. The Police Can Seize Your Property or Business

The debt collection agency can apply for the court to issue a warrant against you. If the court passes judgment against you, a court sheriff will visit your house or business, seize and sell your property to pay your debts.

Insurance is one of the most important things which most of the people have these days to stay protected against some unwanted situation or lack of health or money. The same thing applies to the housemaid also and especially with them who work for twenty-four hours and that is too not in the same country or location. For such people, many employers also buy some maid insurance plans. There are many different types of plans. In this article, we will discuss a few of them which you can too opt for if you think that maid insurance is beneficial not just for her but for you also. Let’s discuss these all in a bit more detail.

Based on Cost

Though there are many criteria based on which one can choose the best plans for main insurance. However, most employers first look for the budget and want to go with the best plan under the lowest cost, yet there are mainly three types of main insurance on the basis of cost. Let’s know them all one by one.

Basic or low-cost plan

The starting cost of this plan may be somewhere between $280 to $300 on average. This plan comes with the least number of the facility which you may need sometimes. However, there are almost all basic things which one can expect in any maid insurance plan. This plan is especially beneficial for them who don’t have much experience in the plans like this or for the people whose budget is very tight due to many other investments or due to any other reasons. Though you may miss some non-essential facilities in it, it is mostly used by most of the employers and especially by them who either have any foreign maid in their house or they have more than one maid in their house.

The mid-tier or average plan

These plans are also sought by most of the employers. The budget of this plan may be somewhere between $300 to $400. Under this plan, you will find all the basic coverage which you can expect from the basic plan and along with that, some extra coverage will also come with this. One of the main reasons for making this plan very popular is that expect just two to three coverages, it gives almost all the coverages like any top premium plan at the much less cost.

Top tier plan with almost everything

This is the plan which is mostly used by the employer who belongs to a very rich family or who wants to provide their maid with all possible facilities so that she can remain carefree and focus more just on the task which she needs to perform on a daily basis. Just because of some differences in the cost they don’t want to compromise with the facilities their maid gets in the insurance plan. Most of the celebrities and business tycoons mostly go with such plans for their housemaid. Though it is preferred by them the most, you can go for such plans if you think that your maid needs all the possible facilities in her insurance plans. The cost of this plan may be somewhere between $450 to $500.

On the basis of coverage

After discussing the maid insurance plans based on cost, let’s discuss them all on the basis of coverage they provide. Let’s discuss them all through some of the important coverage they provide.

On the basis of  Medical coverage

This is one of the main coverages which every person searches for in their insurance plan. In terms of the maid, this is also of very much importance. That is the reason most of the employers go with the insurance plans which provide health protection also. In this health protection, the protection may be in the form of either in inpatient form, outpatient form or with both. In the inpatient form, the insurance is applicable only when the medical treatment is done in any hospital and the maid has to spend the whole hours of treatment in that hospital. In outpatient form, the reimbursement is done only when the treatment is done at home instead of any hospital.

On the basis of Liability coverage

If you want to choose any maid insurance especially considering the protection of your house against the theft done by your maid, you could go for this insurance plan also. The very popular form of this type of maid insurance is the third party liability plan. Under this plan, you also get recovery options when your maid damages someone or something either by mistake or accidentally.

Other than the above-mentioned category of choosing the maid insurance plan you can also choose it with the facility of a critical illness insurance plan.

Critical illness insurance

Many a time the question may come in the mind of many employers, is critical illness insurance necessary? If you too have any questions like this, then let me tell you that there are many things which you need to know before going for the plans which have this facility. However, if the work of your maid is very tedious or if she is suffering from some such critical illness, you should go with the plans with this facility. With the help of this plan, you will not just let the maid be tension free but at the same time, you will also reduce your expenses which you may have to spend on such issues with her.

Above we discussed some of the main types of housemaid plans which you can choose for your maid. Though we have discussed them in the reference of the maid working as a foreigner maid which belong to some other countries, you can purchase this insurance for even the local maids if you think that the maid deserves such insurance. Whatever may be reasons in your case, maid insurance is always worth purchasing for the betterment of both the employer and employee for sure.