May 2021 Financial Checklist

A pinch and a punch for the first day of the month - It’s May folks! And boy is the weather starting to get colder!

So, grab your heated throw blanket, chuck on some uggies and sit back and relax with your fave Financial Checklist: May 2021 edition

1. Make it your own this Mother’s Day

Pop it in your calendar kiddos, it’s Mother’s Day on Sunday the 9th of May. Let’s be real, most mum’s will appreciate anything that requires a little effort and a lotta love. So don’t think you have to splash loads of cash on lavish gifts for mum this Mother’s Day - especially if it means breaking the bank.

Just think back to some of those hideous - um, abstract creations you made as a kid that still managed to score some prime real estate on the fridge for all to see.

So, put those wacky new skills you learnt in lockdown to good use and whip her up a batch of banana bread - or paint her a portrait of the family pooch - whatever your schtick. P.S. when in doubt, you can never go wrong with some good ole fashion quality time! 

2. Start your EOFY prep

With the end of the financial year right around the corner, now’s the time to start rounding up your tax receipts and any other bits and bobs you need to tick off your EOFY to-do list.

Use Mozo’s free income tax calculator to get an estimate on how much tax you’ll be paying as well as how much money you’ll get back based on the Australian Tax Office's personal income tax scales (calculations are estimates only and don’t include rebates, loadings, levy or HECS-HELP payments).

3. Spruce up your space with a home reno

With people spending more time at home than usual since the COVID-19 pandemic began last year, we’ve seen more and more Aussies taking on home reno projects to spruce up their space.

So, if you’ve been thinking about converting your spare bedroom into a home theatre then now could be the time to do it. And if you’re looking for a way to cover the cost, then here are some of the hottest home renovation loan deals in the Mozo database at the moment.

4. Learn about living off-grid with Aussie Survivor star Aimee Stanton

Looking for a way to stay in the loop and expand your horizons within personal finance? Then get on board with The Finance Burrito podcast! Here’s what’s been on the agenda over the past month:

Episode #20: Unwrapped: The reality of living off the grid

Ever thought about packing up and going to live off the grid? Well, in episode #20 of The Finance Burrito Liv and Tom explore just that. In this ep:

• Get ready to hear all about off-grid living:
  • The price tag
  • How sustainable it actually is
  • What you need to consider if you're thinking of making the move
• Then to get a first-hand experience of this trendy lifestyle, Liv chats to previous Survivor Australia contestant Aimee Stanton (@aimeekatestanton )
  • Aimee is a plumber by trade who’s been trying her hand at building tiny homes in Victoria while making adjustments to her own place
  • Aimee shares why she decided to switch up her surroundings & experience off-grid living - we're talkin' the good, the bad & the downright ugly!

Episode #21: Your Money News: Credit card cuts & the right to disconnect

With Liv away on vacay, Tom has the lovely Ceyda Erem as his burrito sidekick to help unpack some of the sauciest finance news topics of the week - such as:

• The never-ending story of rising property prices and how it’s pushing more first home buyers out of the market
• A recent statement made by the Victorian Treasurer, Tim Pallas, which says that credit card interest rates should be going down to reflect the falling cost of lending
• Lastly, Tom shares a story about the Victorian Police Force winning the right to disconnect from work calls and emails after hours.

Episode #22: Unwrapped: What's the deal with carbon offsetting?

With Liv still away, prepare to be pleasantly surprised by Ceyda’s oh-so soothing voice once again in this final episode of our sustainability series. In this ep Tom and Ceyda unpack:

• What exactly carbon offsetting is
• How companies offset our emissions
• Why it's controversial -- ooh drama!
• Then to really get a grip on things, the pair chat with Powershop CCO Catherine Anderson and discuss:
  • Why Powershop decided to offer carbon offsetting programs to their customers
  • The costs involved in doing so
  • Why Catherine thinks carbon offsetting has gotten a bad rep in the media

Episode #23: Your Money News: Taking a bite out of Apple Music & unemployment

With Liv back from Tassie we've got the original duo back in the studio to spill the tea on the top finance news of the week - such as:

• The new unemployment figures from the ABS, plus, why it’s good news for the economy
• The new tax change that’ll impact millions of Aussies
  Apple Music vs. Spotify: an age-old battle about which streaming service pays artists more.
• Haven’t caught up with our most recent eps? No problemo, go and have yourself good ole’ Finance Burrito binge-fest!

5. Make the most of Mercury retrograde this Taurus season

It’s your birthday Taurus babies! Believe it or not but there are other ways to celebrate your special day that doesn’t involve bleeding your bank account dry (did someone say Balenciaga handbag?!). But, if you must, make sure you set yourself a budget first so things don’t get out of hand.

In addition to having the urge to splurge, our Mozo Magic 8-ball also predicted that this year you’ll be more than keen to get out of your comfort zone. Which makes May’s Mercury retrograde the perfect time to stop and think about what really matters to you Taurus.

And that’s another fab Financial Checklist done ‘n’ dusted folks! We’ll catch y’all back here next month for your June 2021 Checklist. For now, feel free to have a browse through our life & money hub.