INTHEBLACK June 2025 - Magazine - Page 9
“Don’t be afraid to do something different. I always took opportunities
when they were offered. Most often, it was a sideways move.”
MICHELE BULLOCK, RESERVE BANK GOVERNOR, SPEAKING AT THE 40TH ANNIVERSARY DINNER
OF CHIEF EXECUTIVE WOMEN IN MELBOURNE IN APRIL.
Furry finances
Pets are taking a bite out of
6.9 million Australian household
budgets, according to research from
Animal Medicines Australia.
Pets in Australia: A national survey
of pets and people notes that the
average annual household spend
on a dog is around A$3200 and
a cat is A$1700, with food being the
top cited cost, followed by vet bills.
When budgeting for the new
financial year, some handy tips
include creating a “pet budget” that
incorporates expenses like food,
medication and insurance, as well
as saving money in an emergency
fund and comparing prices to find
the best deals.
With over 85 per cent of owners
saying their pets have positively
impacted their lives, it is money
well spent.
Read the report
The price of financial freedom
How much money do you need to be free from financial worry?
For 52 per cent of Singaporeans, the figure is more than S$1 million,
according to a recent report from CIMB Singapore.
The report explores Singapore residents’ perceptions and behaviours
towards financial planning and shows that 63 per cent aspire
to achieve financial independence between the ages of 40 and 60.
More than 70 per cent believe that financial independence is a realistic
goal and 43 per cent are confident in managing their finances
to achieve it.
However, almost 40 per cent of respondents say they ‘often’
or ‘always’ feel anxious about their financial future. A similar sentiment
is shared in Hong Kong, where 28 per cent of workers report that their
financial situation causes them higher levels of stress and anxiety.
Read the report
intheblack.cpaaustralia.com.au 9
