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SOMETHING LOST, SOMETHING FOUND

Oops. The NSW State Liberal government recently “found” an extra lazy $1 billion that has turned a deficit of $337 million to a surplus of $680 million for the state’s budget for 2011/12.

You gotta wonder about the sloppy accounting practices that led to such a massive turnaround…

You also have to be a little relieved that we were surprised on the upside rather than the downside in this instance.

It’s kind of like finding that crumpled $20 note in your jeans pocket when you sort out the washing…

Who doesn’t get a bit of a thrill when that happens?

It started me thinking about other ...

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13 Comments

  • Reply November 7, 2012

    William Marshall

    So, the N.S.W. government found $1billion behind the couch! Lucky so and so’s!

  • Reply November 8, 2012

    Lindy

    You certainly got me thinking about how little I know about my own super fund. Thank you!

  • Reply November 8, 2012

    Rowena

    Outstanding Piece. Really got me thinking about myself. I really feel i can relate to your situation. Wonderfully written.

  • Reply November 13, 2012

    True Believer

    Excellent article, Jill. Couldn’t agree more that we need to know more about our superannuation (I have been guilty of this in the past as well).

    Regarding ‘lost’ money, I’d add that people should definitely check out SuperSeeker and MoneySmart online – they are free and will help you track down ‘lost’ dollars!

    SuperSeeker is on the ATO website, you just need your tax file number, name and date of birth. The MoneySmart page is with ASIC and will look for bank accounts, shares, and life insurance.

    It makes me cross to see people charging for these free services when they are so easy to use!

    http://www.ato.gov.au (search for SuperSeeker)
    http://www.moneysmart.gov.au (search for ‘unclaimed money search’.

    Good luck!

  • Reply November 13, 2012

    Rosie

    If only the financial education we had when we were at school was more interesting. We had to learn double entry book-keeping from an extremely boring man with long socks and sandals!
    I find finance and economics very interesting now I am older but still have very little understanding of how things work. So I am looking forward to more of these articles.
    On the Super side of things, I actually had to chase some up through the ATO that my old bosses had ‘accidentally’ not paid me. For two years! So that was a sort of windfall. The only other type I have received is when someone has died.
    And I wish I earned even $22,500 annually, now. Or ever! Wouldn’t know what to do with myself.
    Can’t wait for the next article. Can we ask questions? I have heaps…

  • Reply November 13, 2012

    Anon today

    I got a windfall only today! The school sent me back my $20 for the fete raffle tickets becasuse they didn’t put them in the box in time. But hey, 20 bucks is 20 bucks!

    As the wife of someone who had to go bankrupt (with me along for the ride), now we’re having to start all over again in our 40′s but with the added expense of kids – I would advise everyone to know their personal balance sheet. Get a 2nd opinion on financial advice. Don’t believe the mortgage broker (in disguise as a caring financial planner) that you can afford way more than you know you can comfortably pay off.

    Bring on the rest of the financial advice series. Looking forward to it.

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