Fashion addicts have it all

Peta Muller reported this story 29 October 2009.

Budgeting for high end quality design fashion labels has never been easier credit to the Take 2 Markets opening its doors in Melbourne.in June 2007.

With the harsh state of the economy forcing many Australians into tight budgets, shoppers are excited by the possibility of finding designer fashion labels at bargain prices.

Take 2 Markets Owner Rina Chia said, "We have stallholders selling top brand garments, some of which have not been worn at all; at 50-80% off the price that one would have to pay in a department store or boutique."

Mainstream labels and vintage garments are also available from stallholders including shoes and accessories, in addition to selection of new merchandise from local designers.

The emphasis of Take 2 Markets is on value and quality and as such conditions require stallholders to provide descriptions of items for sale prior to being offered a stall.

"At Take 2 Markets the focus is on quality rather than quantity and I encourage women to seek out the better pieces in their wardrobe so they can get good money for their clothes by selling at Take 2”, said Ms Chia.

Accountant and regular shopper at Take 2 Kate Garland acknowledges that prices for desirable labels make them often unattainable to the average wage earner.

“Dressing like a princess on a working girl’s budget is hard to achieve, you don't need a lot of pieces to dress rich, only a few that are interchangeable and superior quality,” said Ms Garland.

"Women are getting very savvy by buying recycled clothing and using what they have already got, so there is less demand for cheap imported garments”, said Ms Chia.

As the economy drives society to become more astute with budgeting, Take 2 is seizing the opportunity to provide an outlet for shoppers to have the high quality goods without causing financial ruin.

“Second hand is definitely not second best anymore”, said Ms Chia.

Home buyers relieved - renovating not so hard

Peta Muller reported this story 27 October 2009.

Buyers chasing properties to renovate are in for some much needed relief thanks to the creation of a new website.

Historically, searching for renovation properties has been time consuming and labour intensive with purchasers having to research newspapers, contact agents and screen websites just to find a renovator delight.

With the introduction of http://www.findmeareno.com.au/ enables users to quickly search for renovation properties Australia wide, by state, area and suburb from their desktop, view the properties online and contact the selling agent for more information.

Former Real Estate Agent Stephanie Rawling has created the concept which allows home buyers to subscribe at a cost of $60 per state, per month and receive renovation property alerts based on their search criteria.

"FindMeAReno eliminates most of the hard work as buyers can handle the searching process from their office or home desktop, saving them time and money,” she said.

"With thousands of properties on the market at any one time, buyers specifically seeking out properties they want to renovate, need to do a lot of searching to find one that's right for them," she said.

The website allows users to view samples of properties on the home page giving them enough information to decide if they want to subscribe, and then enabling them to apply on the same page.

"FindMeAReno provides a database of thousands of renovation properties, Australia wide, and users of the site can search online quickly and easily," said Ms Rawling.

Ms Rawling notes that because the site links through to other websites; it provides another opportunity for agents to advertise their property listings.

"If they can get more exposure for their properties at no extra cost, they are happy about that, and we have had a very good response from Real Estate Agents," she said.

Financial crisis deepens with Gen Y

Peta Muller reported this story 25 October 2009.

Young adults are finding themselves in financial strife with the endless pitfalls of credit schemes warns premier budgeting company MyBudget.

MyBudget assists clients by managing their finances, advising clients how to break bad financial habits, achieve their financial goals, reduce debt and save money.

MyBudget Director Tammy May revealed that she and her staff regularly encounter young adults already experiencing financial difficulties from poor choices.

"The buy-now-pay-later deals can be a great way to get some needed furniture or appliances but many people in this age bracket get caught out with huge interest rates and repayments they may not be able to afford," Ms May said. 

Ms May advocates spending only what you earn is an extremely important lesson to learn.

"I have personally seen many young clients who have found themselves in hot water over enormous mobile phone bills," she said.

"All of a sudden they receive a large bill they can't afford to pay by the due date and their phone is disconnected, yet if they are on a contract they are liable to pay it out in addition to their bill,” she said.

Keeping within the budget is most important, so shopping around before making significant purchases or financial commitments is imperative according to MyBudget consultants.

One of the first steps people should take when they begin to take on more financial responsibility is to track their spending and draw up a budget," Ms May said.

Websites such as www.canstar.com.au offer comparisons on interest rates, credit cards, bank accounts and insurance. 

Ms May suggests that young adults should begin preparing for a new stage in life by discussing budgeting and finances with their parents or guardians and gain an deeper understanding about needs versus wants.

"It is so important for people at this age to realise spending habits are just as important as saving habits," she said. 

An upward trend for the doom and gloom employment crisis

Peta Muller reported this story 16 October 2009.

The bleak predictions for the Queensland unemployment crisis seem to have fallen by the wayside.

Whilst recruitment agencies are finding it more competitive, Axis Recruitment (Axis) on the Gold Coast is prospering after opening its doors in July 2009.

Gold Coast based Axis Co-founder Marc Vella believes that recent difficult times have forced businesses to return to recruitment agencies to manage their hiring as workloads become too demanding.

According to Mr Vella, businesses are searching for candidates who not only possess good technical abilities, but who also have the right cultural fit for the organisation.

“They put a high value on the right attitude, and on finding people with something to really add to the business,” said Mr Vella.

Axis has a niche focus in the accounting, office support, finance, health, and hospitality industries, which allows them to source specialists within these fields.

“Because Axis Recruitment has in depth knowledge in the hospitality, health, finance and accounting industries, we can source the right candidates for really complex briefs," Mr Vella said.

In difficult financial times, Axis has secured a strong market position by offering competitive pricing and personalised service to its clients as opposed to expanding the organisation.

Mr Vella highlights the three focal strengths of Axis as recession-busting fees, mobile service, and a strong candidate and employee-orientated focus.

Axis also offers premium services and a choice of packages to suit the employer’s needs and budget, which other agencies do not do.

“Many QLD recruitment companies work off a percentage of 13% to 22%, whereas our fees are almost half that,” said Mr Vella.

Mr Vella who overseas the Gold coast operations has extensive experience in the hospitality industry in conjunction with a dynamic background with major recruitment agencies.

Axis attributes its success to adding value to recruitment services in terms of speed and quality of responsiveness and experience.

Under insurance a traumatic neglect for the Aussie battler

Peta Muller reported this story 13 October 2009.

Australians are experiencing an increase in financial burdens thanks to a significant trend of under insuring.

Countless Australians do not have the financial capacity or existing funding to accommodate a long-term illness or potentially leave work for an extended period of time.

Financial Advisor Carla Benson said that inadequate insurance cover was a significant problem in Australia.

“It’s disturbing to think that many people are putting themselves at significant financial risk by not having an adequate level of insurance,” said Ms Benson.

For the largest part of the population, income is not something that can be jeopardised so it is important that people protect themselves by ensuring they have sufficient insurance cover.

Ms Benson believes many households retain policies to protect tangible assets, yet do not protect their main source of income or sufficiently prepare for the risk of experiencing a traumatic event.

“Trauma insurance is often overlooked as a priority because of the common misconception that savings, employment, government and health benefits provide a sufficient safety net," said Ms Benson.

The financial burden of medical costs and obligations is increasing, as are the chances of experiencing or recovering from a traumatic event.

Ms Benson claimed that Australians tend to believe that “It won’t happen to me”, however everyone knows someone who’s experienced a serious illness or accident, and it can happen at any age.

Statistics from Aviva indicate that 70% of the critical illness benefit payments made to their policy holders during the period of 1990 – 2008 were to sufferers of malignant cancer, followed by heart attacks.

“The harsh reality is that if these patients didn’t have trauma cover, they may have not been able to afford to pay for the upfront medical treatment required to save their lives," Ms Benson said.

“Everyone should reassess their financial circumstances and weigh up the risks," she said.

Property distress turns into property interest

Peta Muller reported this story 13 October 2009.

The effects of the international credit crisis have well and truly hit home, with the recent battering of Australian Real Estate Investment Trust’s (A-REITs) and the downturn of many direct property assets.


With this misfortune comes opportunity for the cashed up investor to take advantage of distressed assets and short-term market turbulence.

Property Fund Manager Vaughan Hayne of WHK Horwath Securities Limited (WHKSL) and his team have been liaising with industry professionals to gain a feel for opportunities in the property market.

Mr Hayne believes the cycle has returned to an environment where investors are seeking transparent, plain vanilla products, with low gearing and a focus on yield.

“In times of market crisis, the philosophy “Cash is King” is evident through A-REITs raising capital to both strengthen the balance sheet and allow for strategic acquisition opportunities," said Mr Hayne.

“Capitalisation rates softening across all property asset classes has created opportunities for cashed-up buyers to acquire quality assets which would seldom reach the market, and are now selling at bargain prices," said Mr Hayne.

Mr Hayne claimed the positive feedback retrieved from industry participants, combined with the decline in interest rates has provided an opportunity for his organisation to launch new products in 2009.

“Our new products will take property investing back to basics where the investor clearly knows the underlying asset(s) and attributable income component," said Mr Hayne.

“Stringent risk management policies will be adhered to with an investment committee appointed to approve decisions," Mr Hayne said.

In times of market turmoil, a wise investor who can identify sound undervalued investment opportunities can create a strong investment portfolio for the medium to long term.

“This will be a big step for WHKSL in this current environment, however the support of investors will ultimately determine the success of these products," said Mr Hayne.