JobKeeper has been a great assistance to millions of Australians during these uncertain times, unfortunately, these payments cannot last forever!
The government has indicated that Jobkeeper payments will most likely end in September which means that business and individuals really need to prepare and make the most of these payments while they can. Some simple things you can do today to make the most of your JobKeeper payments:
- Save! Save! Save! As much as possible, put away some of your pay into a long-term, high interest savings account. As a general guide, financial advisors usually recommend having three months’ worth of your wages saved at any time. Since we can’t really go out and socialise right now put the extra $$ into your savings – you’ll be glad you did!
- Consider switching your insurance policy. A lot of insurance policies are offering COVID discounts and reduced fees. By doing your research you could be saving yourself up to $350 a year in car insurance alone – it’s worth a look.
- Track your spending. Ignoring your finances and your budget is a huge (and common) mistake. It can be overwhelming but there are a heap of free resources out there to help you. Try visiting MoneySmart which is a free service run by the Australian Government.
- Learn to cook at home. Given that it is currently nearly impossible to book into a restaurant now is the perfect time to refine your cooking skills!
Instead of being worried about JobKeeper coming to an end, use this time to gain control of your finances and to make some smart decisions for your future. If you are worried about your finances and need to speak with someone, contact your TABMA Field Officer today to discuss the ways we can support you.
Apprentice and Trainee Work Tip:
It is important to follow procedures set out by TABMA when you are taking personal or annual leave. You must clear any annual leave with your host and notify your Field Officer. This ensures that we know where you are at all times and can make necessary arrangements not only for payroll but also for your training. Remember, you have a responsibility to your host employer and to TABMA to notify us if you are unable to attend work due to illness or otherwise. As soon as you know you won’t be able to attend work you must let your supervisor and your Field Officer know.
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