How to Spend your $900 – think about your future needs first
Thousands of Australians are just receiving or are about to receive a pretty handsome cheque from the Federal Government as part of the economic stimulous package. The question then is ‘what do I spend this on?’ Below I offer a futurist’s view on where certain generational types might consider spending the bonus.
As a Strategic Futurist I am asked to help individuals and organisations of all shapes and sizes consider emerging issues and potential implications as a result of those issues. Below is a ‘generational’ take that might assist you when thinking about your future and how to spend the funds wisely:
Boomers – okay let’s say you’re about to be in receipt of a full $900 – where do you use the cash? Well if I was a Boomer, I’d be looking at two areas in particular – training, and training. First, consider a book-keeping course – it’s a great skill with plenty of ongoing demand, and second then about doing a Cert IV in Training and Assessment – that workplace experience and teaching qualification could be in great demand. Alternatively, think about buying yourself a good bicycle with all the riding accessories you need – helmet, lights etc. You might find you’ll need to stop driving or have more time to spend with the grand kids
For Gen Xers (the ‘forgotten’ generation) – the Cert IV in Training and Assessment is a must do, slightly after paying off Credit Card Debt. If you’re okay in those two areas then I’d certainly think about getting a yearly gym membership – just make sure you pay all in one hit so you don’t get locked into contracts with horrendous and punitive ‘get-out’ clauses. The training qualification will be useful in later years as the upturn kicks in because there will be plenty of people needing to be re-trained in a hurry. The gym because if you find yourself temporarily on the scrap heap, your health can go down hill fast. Committing to staying healthy means your state of mind is sharper, you’ll look better and you just never know who you might meet there. For many, it’ll be a chance to make up for one too many good lunches and long working hours that rarely included sufficient exercise
Gen Y – ah yes, the first shock to the system for many in this bracket. Consider buying camping equipment and an outdoor stove because you might just find that you’ll need somewhere to live once the rental and free accommodation dries up. Also a good bicycle because if your friends lose their job (or you do) running a car will be expensive – same goes for a reliance on parents to drive you around – such an asset may no longer be available and the ol’peddley will turn out to be more than a useful option
There you have it – enjoy the cash, spend wisely
Every where we look we are being given clear signs of the blatant stupidity and arguably outright criminality of a toxic system of decision making. The Menindee Lakes and Darling River disaster is one example A couple of years ago I was invited to speak at a Private Equity conference at a lovely resort…
Read More >Every year I aim to identify what I think a major focus of the upcoming year will be and in that light I’m declaring 2019 the International Year of the Cooperative. I’m prompted by a multitude of signals that my daily research has uncovered, many of which will be familiar to you – Cost of…
Read More >Here we are with the last posting of the year looking at the potential for wide ranging strategy for a country like the United States. Arguably the United States is undergoing its own version of #Brexit though without the vote of the people. Instead the dictatorial nature of what I see as an incompetent strategic…
Read More >I’m reluctant to make predictions but am getting a few calls so: My tip is on a March 2019 election – the 9th or 16th But that will be an attempt to protect the existing NSW Government hoping that voters will have sufficiently vented. That said though, it also required a Federal Minoroty Government to…
Read More >The Asian Productivity Organisation has shifted gears from being a centre for member countries to talk about productivity, to one that now wants to upskills its member countries. We’ve just completed the first chunk of helping National Productivity secretariats to ready their staff for a more proactive, future facing approach to their Country’s development …
Read More >The question is, ‘how does the thinking inside this document stack up?’ Turns out, pretty good. What we spotted and what problems we said we’d have to watch out for, are just about spot on When it was discovered that the then Prime Minister Kevin Rudd was going to hold the Australia 2020 Summit,…
Read More >it’s OK not to know your career path when you leave university – sometimes that won’t emerge until much later down the track,” Barber says. “We should remind kids that the pathway they select to start off with is unlikely to be their final pathway, Was interviewed by #TheodoraSutcliffe who wrote this article for…
Read More >At a recent session with the Gen Y group working on the ‘Future Melbourne’ project for the City of Melbourne I suggested that the group consider what the result might be if they could ‘invert’ the way the State of Victoria operates. What would you be likely to see if more of the functions of…
Read More >McKinsey’s interview with Richard Thaler on ‘debiasing the corporation’ is a really good one. I’ve spent the best part of two decades trying to help organisations unpack their biases through the use of foresight. I recommend this article to you Nobel Laureate Richard Thaler offers some great insights as to how to make more…
Read More >As the Ipswich Council has determined that recycling schemes are too expensive and indicates it will end collections, the question is ‘what happens next’? If result of the explosion in Tip fees by Councils around Australia is anything to go by, what happens next will not be good China recently decided to end acting…
Read More >