5 ways to use the tax rebate to get your finances in shape

THE Australian dollar was lower at noon in a slide which started on Friday on the back of poor US jobs data.

At 12noon (AEDT), the Australian dollar was trading at $US0.8733/35, down from Friday's close of $US0.8811/16.

During the morning, the domestic currency traded between a low of $US0.8705 and a high of $US0.8740.

The Australian dollar lost ground on Friday night when US non-farm payrolls showed the country added 18,000 jobs in December, the weakest jobs growth in more than four years and well below market expectations of a 70,000 increase.

In more bad news, unemployment hit 5 per cent in December, in a sign US economic woes were beginning to widen beyond the sub-prime housing crisis and tight credit markets.

After bottoming out to $US0.8705 shortly after 7am AEDT, the Australian dollar lifted in line with the rising price of precious metals, according to CMC Markets FX dealer Tim Waterer. read more

Time to reappraise system that's all too open to abuse

Oprah introduced money advisor Suze Orman with a depressing warning that too many American are in debt than ever before and are only steps away from financial disaster. Suze Orman said that people don't understand interest only loans and adjustable rate mortgages and many are starting to see their monthly payments adjust up.

Erica and her husband have two children and they purchased their first home in 2004 and got payments of $900 but now the payments are $1,600. They signed an adjustable rate mortgage and because of the payments that escalated, her house is in foreclosure and her husband left. She said that she was sad that her children had to be put through this. Suze Orman said that she needs to rise above this and show the children that mommy has what it takes to make it work. read more

Pop goes the property boom

I've never known an entrepreneur who started a business without making a few mistakes. Certainly, you'll be no exception. You'll make them, try to fix them, and then move on. However, some entrepreneurs fall into traps that are bigger than mistakes. They are, in effect, entrepreneurial sins. Some of these sins will harm your personal life; others may irreparably damage your business, and still others will do both. Many entrepreneurs who came before you have committed these acts and, predictably, suffered their consequences. In the interest of saving your entrepreneurial soul, here are the ten cardinal sins that you must never commit:

1. Not learning from your own mistakes. Talk to any entrepreneur and he or she will tell you about crazy, ridiculous mistakes that will have you shaking your head and saying, "I just can't believe someone could be that stupid." Well, they can, I can, and so can you. read more