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LETTER OF THE MONTH

Giving is just as important as saving

I would love you to write an article on the importance of giving away your money – to those in need or to charity. The principles of savings/investing are always well visited. But no one talks about the monster that is greed. That monster is the one that can make it possible for all your hard work to come down to ... well, nothing. Giving away a certain amount per pay cheque each month or year is just as important as putting a certain amount away for savings or investments. For one can be wealthy financially but isn’t truly wealthy at heart until one knows the gift of giving. What are your thoughts, Money?

ED’S NOTE: We agree charity is important, which is why we run our regular Give It Up column focusing on different worthy charities each month.

Seniors miss out in Qld

Maria Bekiaris’s article (“Discounts for seniors”, News and Views, April) touched a sore spot for this Money subscriber. I would like to point out the disparity between Queensland and all other Australian states.

In Queensland, you are required to wait five years longer than every other state to obtain the rights to a government Seniors Card. This penalises Queenslanders from receiving Australia wide discounts and concessional travel from private travel companies until we turn 65. The discrimination does not end there, as Queensland recognises all interstate Seniors Card holders regardless of age.

Thanks, Maria, for all the enlightening articles you write and also to Money magazine for the valuable information passed on to so many readers.

Therese, Qld

Stick to the basics

Sam Henderson of Henderson Maxwell (“Ask the experts”, March) hit the nail on the head and underlines why I really enjoy reading your magazine.

He described paying down your home loan as “the greatest financial step anyone can take – it frees up the rest of your cash flow for saving, investing and enjoying your life choices”.

For me his “grow and protect” message was a sound financial strategy and certainly humbling advice, though it also made me reflect a little deeper. I realised reading your magazine and taking steps towards a good financial education is ultimately about investing in your choice and freedom – and who doesn’t want that?

You don’t need to take risks on complex investmentsor gamble on start-up stocks to generate wealth - quite the opposite. It’s amazing how sometimes following the most basic advice can make the most substantial impact on our financial situation – and in turn almost every other aspect of your lives.

If reducing debt, freeing up money and protecting assets means I can spend more time with my family, do what I’m passionate about and have more time to relax, then in my book that’s a worthwhile investment.

Adam, email

Invest in the future

Everyone should have shares! I can remember economic guru Bruce Bond coming to my high school (many years ago). His mission was to encourage us to start a share portfolio. He believed that such acquisitions (no matter how small)  would provide an “interest” in the financial world. By being an active player one certainly does learn. Sitting on the sidelines is useless. The sharemarket is not designed to be a spectator sport. I have definitely learned from years of “on-the-job training”, so to speak.

We live in a capitalist society which rewards enterprise. By investing in business, we are investing in the future. I don’t believe savers should be heavily taxed or have their savings drastically cut. Investment should be rewarded. In a democracy everyone should have the opportunity to control their own financial destiny.

Linda, email

PRIZE WORTH WINNING

Each month we’ll award one letter a 12-month subscription to Money magazine.

Write to: Letters, Money, GPO Box 3542, Sydney, NSW, 2001 or email This email address is being protected from spambots. You need JavaScript enabled to view it.

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