Darren Titmus, Author at Financial Planning QLD

Darren Titmus

Obsessed with helping people achieve their own financial freedom through practical strategies and tips that really work, Darren Titmus built Financial Planning Qld to provide strategic financial planning.

Managing debt alternatives financial advice

The alternatives for managing debt

Whether it’s for buying furniture, a car, or a home, the majority of Australians have used debt. For most, repaying debt is a formality, but for others who cannot manage their debt, it can be the first step on the slope to bankruptcy. Fortunately, alternatives are available when it comes to managing your debt. Insolvency in Australia The Australian Financial Security Authority (AFSA) regularly publishes statistics on insolvency. The latest report showed that in 2016-17, 16,320 Australians became bankrupt, 13,597…

Choosing the right type of loan

When choosing the right type of loan to suit your needs now and into the future, there are many factors to consider. What is the purpose of the loan? Credit cards provide immediate access to credit that can be used for many purposes, but the interest rate is high so they are best relied on only for short-term loans. If you need a larger loan to pay back over a longer period, consider a personal loan. These tend to be…

An Australian family is worried about the hidden costs when buying a home

Hidden costs of buying a new home

You’ve decided that it’s time to buy your first home; Congratulations! It’s such an exciting milestone in anyone’s life and should be as effortless as possible. It’s important not to be caught out by the hidden costs that come with buying a home. The costs add up quickly and can cause issues if you’re ill-prepared. The following should give you a clear insight into what to expect and how to plan your savings correctly to avoid any unforeseen obstacles in…

Couple applying these 6 financial tip when it comes to investing in property

6 Tips for investing in property

We are often asked for financial tips when it comes to investing in residential property. Quite simply there is no yes or no answer to this question. The real question you need to ask yourself is, “is this the right time to invest in property for me?” There are many different styles of property (houses, units, apartments, and so on) in many different locations (CBD, inner suburbs, outer areas, rural, etc). The choice of property for investment purposes is enormous,…

How to clear your debt

The Australian Bureau of Statistics estimates that the average amount of money Australian homeowners owe on mortgages, credit cards and personal loans combined comes to approximately $85,400 per household. Obviously, many have more debt than that – but over $85,000 is a substantial debt. Take heart though – some debt, such as money borrowed to invest, is considered more productive than others. If your debt is not productive and is weighing you down, there are plenty of solutions for winning…

Couple seeking home loan and organising their debt-to-income ratio

Does your debt-to-income ratio matter for a home loan?

Before we jump into the debt-to-income ratio let’s look into a typical situation you can find yourself in. Applying for a home loan can take on almost mystical proportions, with most Australians unsure of just how much money they can borrow. As a result, they often make the mistake of trying to secure too much money, only to be knocked back. Most people understand they need a deposit, usually 20 per cent or more of the purchase price, and to…

Australian job resume appeal during COVID

5 ways to ramp up your job appeal now!

The COVID-19 Global Pandemic seemed to come from nowhere. Just as we thought we were chugging along quite nicely, it crept up and went, whammo! We didn’t see that coming! Within a week, more than 700,000 Australian jobs were lost and by June 2020 Australia was officially in its first recession in almost 30 years. If you lost your job during the year we’d-all-like-to forget, the good news is that our economy – and our job market – are already picking up. According to…

Financial advice for senior entrepreneur

How to succeed as a ‘senior entrepreneur’

The latest buzzword is “innovation”, but you don’t have to be young to be innovative – ask any ‘senior entrepreneur’! Reaching the seventh decade is nothing like it was for previous generations. Improved medical technology and a better understanding of staying fit and healthy for longer is making a positive impact on the lives of many Baby Boomers, and the Australian economy. However, ballooning redundancies and the difficulties many older workers face in finding new jobs can make it a…

Debt consolidation and financial planning advice

How to consolidate your debt

It’s become so easy to borrow money that even when you’re struggling to pay off what debts you already have, your bank may offer you more credit. Sometimes the temptation to say “yes, more please” is too high and before you know it you’re over-extended. Managing your credit cards, personal loans, store cards, car loans and mortgage can be a nightmare especially when all the loans have different conditions and interest rates. Rolling all of your debts into a single…

Seeking financial advice to break the pay-to-pay cycle

You can break the pay-to-pay cycle

Now and then, Jodi borrowed $100 from her parents. She’s good for it, and always paid it back, but her situation was not uncommon. She was living pay-to-pay. 5.9 million Australians live pay-to-pay A study by Deloitte between November 2021 and January 2022, surveyed over 14,000 Millennials (born 1983 – 1994) and Gen Zs (born 1995 – 2003) worldwide. The results were alarming: over 30% of respondents indicated that they did not feel financially secure, while 47% of millennials and…