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According to chief market strategist at CMC Markets and host of The Artful Trader podcast Michael McCarthy, there are certain investor personality traits that seem to predict success in the share market.

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In this episode of the nestegg Podcast, Michael joins host Grace Ormsby to outline exactly what these characteristics are, the difference between high-risk and low-risk appetites, and how investors can apply different strategies depending on their own personality type.

Michael also explains how fear can be both helpful and a hindrance for confident decision-making, why failure is a crucial process for investors seeking growth, and where budding investors can begin educating themselves about the markets.

Thanks Matthew, for sharing your insights with the nestegg podcast team!

You can keep up to date with what CMC Markets are up to HERE

Have an investment story to share? Get in touch at [email protected] and you might get featured on the next episode.

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Aussies drop $15k a year on food and drinks

By Cameron Micallef · September 24 2019

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Invest

Aussies drop $15k a year on food and drinks

By Cameron Micallef
September 24 2019

Reading:

Aussies drop $15k a year on food and drinks

By Cameron Micallef · September 24 2019

Reading:

Despite spending $272 billion on food each year, only 40 per cent of Australians can stick to an allocated food budget, new research has found.

Insurance giant Suncorp has found the average Australian individually spends nearly $300 dollars a week on food.

According to Suncorp’s behavioural economist Phil Slade, the findings indicate that when it comes to food, instincts are driving spending decisions.

Suncorp revealed that food delivery services are the item people are most likely to overspend on.

“Most of us agree regularly spending money on takeaway food and barista-made tea and coffee is an unreasonable expense, yet we’re spending $140 a month on these items,” Mr Slade highlighted.

The behavioural economist said that the busier consumers become, the more money they throw away on “painful problems” like hunger or boredom, which can be easily solved.

“While the rise of food delivery services is perceived as making life simpler, they’re also giving us another outlet to spend money in moments when we’re experiencing pain (hunger), which in most cases hasn’t been budgeted for,” Mr Slade continued.

The report found 29 per cent of Aussies are also overspending on groceries (29 per cent), eating out (25 per cent), takeaway (24 per cent) and alcohol (23 per cent).

The most common food-related expenses included groceries ($135), eating out ($52), alcohol ($31), takeaway ($22), coffees/teas ($13), food delivery services ($12), supplements ($12) and health foods ($11).

To combat such overspending, Suncorp offered up five budgeting tips to help Australians reduce their unnecessary spending on food.

Five budget tips

Plan meals – Thinking about meals a few days in advance and doing one grocery shop is the single most cost-effective way to get the most out of a budget, the report said.
Shop online and don’t shop when you’re hungry – You’re more likely to purchase unnecessary snacks when you’re hungry.
Shop around – Different shops have different specials on any given week, so it’s worth taking the time to tailor meals around sales items.
Value leftovers – Using leftovers for lunch the next day can effectively reduce food bills.
Grow your own food – Space constraints can limit food growing opportunity, but an herb or vegetable garden might shave a few dollars off the weekly bill, with cherry tomatoes, lettuce and broccoli particularly adaptable to apartment living.

nestegg has previously queried whether Uber Eats and Afterpay habits are making Aussies poor.

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About the author

Cameron Micallef

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.