Other Contributors

Banks… If You Can’t Beat Em Join Them

Posted:05.17.2012

So the banks are the focus of a traditional post RBA rate movement ‘bashing’ which is understandable as Australian’s will generally be effected in some way or another because they either

1/ have a home loan

2/ have savings account or a term deposit

3/ are a shareholder

Now banks provide a service and Australian banks are as strong as any in the world which was demonstrated through the GFC as other banks around the world were defaulting. Now as per any other business, banks are out there to make money for their owners, ie their shareholders of which many Australians are either directly or through their superannuation funds and if you are not all in cash or self manage your fund the chances are you are invested in them as well.

But just as a business like your local supermarket, they have a product to sell. To enable them to have this product to sell they need to buy that product and the difference between how much they buy the product for and sell the product for is their margin which the use to generate a profit which they can then return to their owners/shareholders. The banks product is however lending money, so to lend money they have to buy money…… to buy money the banks can do several things, one of which is borrow it from depositors, ie savings accounts and term deposits for a certain interest rate and then lend that money out at a different  interest rate. The difference of which is the margin they keep for the service.

Competition among the banks for the consumers money ie term deposits and debt will push this margin down and ensure the consumers win but the banks will also always try to keep this margin at a suitable level to keep their owners/shareholders happy.

The trick is to remember that when all this noise is out there – the effect of how the bank reacts to reserve bank cash rate changes will differ for each person, depending on whether you are a borrower, depositor or shareholder.

How do interest rate changes affect you?

Alisdair Barr is the founder of Future Map, a dynamic financial literacy program focused on building life planning and financial literacy skills in the workplace. Having held senior leadership roles for the last 10 years at Commonwealth Bank of Australia, he is passionate about reducing complexity and helping to map out a better future for all Australians. More from Alisdair on www.futuremap.com.au

Get Up, Dress Up, Show Up

Posted:03.05.2012

Photo Credit: Mel Rodgers

Do you ever feel like life is just passing you by? It’s as if everyone else is on the train, speeding away to their destinations; while you’re still at the platform, frantically trying to decide which train you want to board. You can see the faces of your friends, smiling wistfully at you as they are carried further and further away. You wonder why they are smiling wistfully at you; why do they look as if they want to be the one on the platform?

I have regular moments of panic about my life. I joke about having a quarter life crisis – but to be realistic I have these crises way too often to be called quarter life; they could more appropriately be named quarter-year crises! Perhaps it’s because I spend too much time thinking, too much time wondering what my purpose in life is, too much time fantasizing about the possibilities ahead of me. Whatever it is, I have abject moments of panic when I wonder where my life is going and what I really want out of it.

My life has been wonderfully rich and fulfilling so far. I’ve studied marine biology, climbed the Eiffel Tower, competed in triathlons, snorkelled the Great Barrier Reef, fallen in love, read Jane Eyre and My Brilliant Career, had my heart broken, laughed until I’ve cried, lain in the park and stared at the clouds, slept in a hammock along the Mekong River, had too many tequila shots, lost a shoe at a music festival, and played a crocodile in a musical.

That isn’t to say my life has been a picnic; but then if it had been I wouldn’t have any stories worth telling. Life is tough. I’ve had moments of stark loneliness, staring at the ceiling wishing I had someone to talk too. I’ve had depression and days of wondering whether there is a reason to get out of bed at all. I’ve felt paralysing self-doubt, wondering if I’ll ever be smart or pretty enough (for who or what I’m not sure). All of these experiences have shaped me into the woman I am now.

It’s in my moments of panic that I think about all the things that have really mattered so far in my life. The moments when I’ve laughed with friends, cried with my sister, hugged my mum, listened to my brother, or asked my dad for career advice. The moments I’ve seen a beautiful sunset, watched the waves roll in over the sand, or watched the sunrise on a morning jog. These moments make me realise that I’m not waiting for my own life to happen, it’s already happening. If you’re like me – you’re still figuring out who you are, where you fit in the picture, and how you’re going to change the world – I think it’s okay to be scared and unsure sometimes.

Don’t get disheartened. In those moments when you’re wondering where you’re going and how you’ll get there, take stock of all the amazing things you have already done in your life, the beauty you’ve seen, and all the challenges that you’ve overcome. There is no single recipe for happiness or success (nor a single definition for these). There are no right or wrong answers. You don’t have to follow anyone else’s path. To paraphrase Regina Brett, you just have to get up, dress up, and show up – life will follow.

Mel Rodgers isn’t sure exactly where she’s going, but she’s still going to show up. She writes, runs, cycles, laughs, cries and makes excessive lists of all the things she still wants to do in life.

The Most Unlikely Connections

Posted:02.13.2012

10thousandgirl welcomes a new blogger – Melissa Rodgers – blogging her perspectives from her current home in a small village in Cambodia!

There are millions of reasons why we make connections with others; just as there are millions of types of connections to make. There are friends that touch your heart. There are colleagues that inspire your mind. There are lovers that ignite your soul (… and those that are plain old steamy, but worth the fun). There are mothers and fathers that hold your hand and catch you when you fall. There are brothers and sisters that torment and tease, but always have your back. There are tiny connections with strangers that change your day for the better; the barista who always gives you a cheeky smile with your coffee, the neighbour who smiles distractedly at you each morning as they walk by.

I have been living in a small village in Cambodia for 6 months now. There are about 10 other expats in town, which means the potential for relationships is limited; at least, that’s what I thought when I moved here. Living in this town has taught me a lot about the small connections that can be built between strangers from different cultures. It’s these connections that can change your day for the better by slightly adjusting your soul.

Every morning I say hello and poke my tongue out at my landlords’ 2 year old daughter. In turn, she wrinkles her nose up at me and says hello. Despite the language barrier, my landlords still make me feel welcome. About once a fortnight they bring me a bunch of bananas. The first time this happened I did not stop smiling all evening. It was such a small gesture, but when you’re living in the middle of nowhere without family or friends, a little thing like that reminds you that people do care.

I spend my Saturday mornings buying fresh produce from the local market. I speak only enough Khmer to be able to ask how much things cost; that’s about it. Now that I’ve become a ‘regular’ at the markets, many of the old women at the stalls talk to me. I can honestly say that I have no idea what they are saying, and I’m sure they don’t know what I’m saying either. They chat among themselves, including me in the conversation; all the while we’re all smiling like fools at each other.

Each afternoon as I leave my office, there are a few kids playing out on my street. Sometimes they are playing volleyball, other times they just seem to be playing in the dirt. Every day, without fail, they will greet me with shouts of “hello”. Some afternoons I will attempt to play volleyball with them – it doesn’t matter how uncoordinated I am, they let me join in just like I’m one of them.

Yes, I miss my best friends from home. I miss the man who knew me so well after a few weeks of friendship to make me a perfectly personalised mix CD. I miss the girlfriend who sent me a bottle of wine and chocolate, no note, and I knew instantly who had sent it. We may not talk every day, but our friendship is about quality, not quantity. It’s because of all the unexpected, but enriching, connections that I’ve made over here that I can cope with living remotely, away my closest friends.

All of these unexpected connections, across language barriers, will be poignant memories someday. These are the connections that shape moments of your life. They are moments I will reminisce over when I’m sitting on a veranda drinking wine at 80 years old. It doesn’t take identical view points, similar tastes in music, or even the same language to make a connection. All it takes is the willingness to open the windows of possibility and welcome people into your life; allowing strangers to become friends. In the end, we’re all people – we all dream, hope, despair, laugh, cry, love and pine.

Photo Credit

Melissa Rodgers believes that in life there are those that drift and those that go their own way. She is a friend, daughter, sister, emergency contact, colleague, training buddy, and white woman on a green bicycle. She shares her stories at http://mel-dolphinsdarwinandotheradventures.blogspot.com/

Life Planning Workshop

Get a life and finance makeover ..and a beauty makeover! The first series of one day Life Planning Workshops are being held at Napoleon Perdis Makeup Academy venues in capital cities from February to June 2010.

More info and register now

Personal Finance Program

Find out more about the one year Personal Finance Program. Available from June 2010, we're looking for girls to jump on the boat early. Provide feedback on each of the modules and receive your program free!

Click here for more info

Share Your Inspiration

Get involved in the discussion! Looking to build your writing portfolio? We're looking for active blog contributors with all kind of fun and exciting rewards and incentives, you'll play an integral part in collating stories and helping us all stay in tune and inspired.
Contact us for more information

  • Stay in touch

    Updates for girls and supporters. Receive your
    free Financial Zodiac Guide when you sign up.

  • facebooktwitterfacebooktwitterfacebook
  • 10thousandgirl Blog

    Banks… If You Can’t Beat Em Join Them

    17th May 2012

    So the banks are the focus of a traditional post RBA rate movement ‘bashing’ which is understandable as Australian’s will generally be effected in some way or another because they either 1/ have a home loan 2/ have savings account or a term deposit 3/ are a shareholder Now banks provide a service and Australian [...]

    Upcoming Sydney Workshop! 20th May 2012

    7th May 2012

    10thousandgirl, together with Beautiful Minds and Savvy Sassy She are offering together a full day break out workshop suitable for professional women, mothers and teen daughters. Perfect for women of all ages and financial stages  looking to create or review your goals, build your confidence, improve your personal finances or discover fun tools and systems [...]

  • Profiled 10thousandgirl


    Carmen McIntosh

    My financial goals for the next 12 months are… to be in a position to use rental income to pay off my mortgage (instead of getting into even more debt), to have established some sort of investment portfolio and to achieve a higher grade in my career (meaning higher pay). Read more

  • Volunteer

    Contact us for current opportunities

  • Contribute

    Our goal is to raise $1 million to support women in developing countries to launch their own business... this is the ripple effect.
    CLICK HERE TO FIND OUT MORE