Have you got all your Super?

You may have seen in the media recently that the Federal Government is really pushing for you to seek out your lost superannuation. Australians apparently have some $17billion in unclaimed super floating around scores of funds. Some of it could be yours and if it is, you should do something about it.

(Yes, once again I am actually going to blog about something practical. The last time it was about writing your Will – have you done that yet?)

Many years ago, I had about 4 different superannuation accounts. I think it’s a common problem for people when they enter the workforce and each new job has a different preferred fund and you don’t really care too much about where the money goes because you won’t see it until you’re ‘old’.  When I settled into my first professional role, I took the time to bring all of my super funds into one account. It was annoying and took a while and to be honest cost me money, because when I withdrew money from an account it would charge me for the pleasure of doing so.  Ultimately it was worth it because I now have one fund with one lump sum then earns more interest than my four smaller funds would.

This is the message the Government is trying to get across – it’s your superannuation, you earned it, you will need it some day and it’s better off in your back pocket than in some unknown super fund you can’t remember joining.

So, even though I was pretty sure I’d mopped up all my earnings I went online to the Australian Government’s SuperSeeker website to check it out.

Turns out it is spectacularly easy to check if you have ‘lost’ super. All you need is you TFN, name and date of birth and you can find out immediately if you have any registered lost super. There are lots of ‘lost superannuation fund’ websites out there but I recommend you go straight to the Federal Government one.

It’s so easy everyone should do it. It will only take you two minutes to see if you have any super to claim and then if you have – score! Money you didn’t know you had! It may take some effort to get it back but really, it’s worth it in the long-term. 

 Because we all want to spend our days here.

Buy Nothing New October

I get a particular financial newsletter in my inbox every fortnight. I received the newsletter last Friday 30 September, opened it and 3 minutes later had signed on for Buy Nothing New October.

I'm not sure exactly why or how this happened but some part of my brain that has superior control over my motor functions clearly thought it was a good idea. I am trying to organise my finances, set long term goals and get my life sorted for 2012, so in theory at least the 'pledge' – yes, pledge – that I have taken is a good idea.

Buy Nothing New Month according to their website is:

Buying Nothing New is not about going without, nor is it Buy Nothing New Never.

It’s about taking October to reassess what we really need, think about where the stuff we buy comes from (finite resources), where it goes (landfill), and what our alternatives are.

It is about conscientious consumption and by not spending on stuff we don’t need, increasing our savings for the things we do need.

You can still buy essentials such as food, drink and medicines. If you want anything else you need to ' beg, borrow, barter, swap or buy secondhand'. It's a great concept actually, though I don't suppose retails want it to take off. We all do tend to buy too much 'stuff' and this is about taking a month off from that, taking the time to realise just how much money you spend on things you don't necessarily need and hopefully saving a bit of moolah.

The only problem for me if that I don't buy that much new anyway. I op-shop and vintage shop. The challenge for me is to not be consumerist in the Paddington Antiques Centre or my local favourite Endo's. That's harder for me than it might appear because I am always seeing fabulous second hand and vintage finds that I want to buy. But no, if I can't put away my consumerist tendencies for one month then I have some problems.

Buy Nothing New Month – a great idea and a good personal challenge.

That being said, I do need some an A5 ring binder folder to organise my papers … if anyone has a spare going begging?