Disclaimer: I'm not a finance professional, so there is no warranty whatsoever on the accuracy or the suitability of anything presented here. Also this is biased for couple with no kids.


CASH Buckets (Budgets)


Credit: The below are based on Scott Pape, The Barefoot Investor. Books, website and blueprint material. Please visit their website barefootinvestor.com


When selecting bank accounts: no fees ever (including no ATM fees) and one of the highest rate bank account. Always use internet banking.

Split your bank accounts to:

1.     Everyday transactions: 'Daily expense' and 'Splurge'. Scott recommends two separate accounts with two separate debit card, but I combine them to reduce complexity. - recommendation: ING Direct Orange Transaction Account

2.     Online savings: 'Smile' and 'Fire Extinguishers'. Scott recommends two separate accounts, but I combine them to reduce complexity. - recommendation: ING Direct Saving Maximiser (or ME Bank)

3.     Mojo, minimum $2000 emergency money. If you do not have it, sell things to have this emergency money. Keep it separate from your main accounts, to reduce ease of access. - recommendation: UBank Usaver

# recommendation is as of end of 2016 and based on personal research, and the Barefoot Investor (2016, 2nd edition) book.

Average Australian household is charged by about $515 bank fee each year per the Reserve Bank.

Married couple should share bank accounts, separate cards. Each person can spend up to $400 on whatever the person chooses, no need to ask permission. Anything over that need to be talked and joint decision needs to be made.


Frequent Flyer Comparison



Qantas Frequent Flyer

Virgin Velocity

Status requirements

Silver - 300 to earn; 250 to keep
Gold - 700 to earn; 600 to keep
Platinum - 1500 to earn; 1200 to keep
Platinum One - 3600 to earn; 3600 to keep

Silver - 250 to earn; 200 to keep
Gold - 500 to earn; 400 to keep
Platinum - 1000 to earn; 800 to keep

Sydney to Melbourne

Discount - 10 points
Flex - 20 points

Prior 30-Jan-2017
Discount - 10 points
Flex - 20 points

After 30-Jan-2017
Restricted econ - 5 point
Discount - 15 points
Econ - 25 points

Sydney to Singapore

Discount - 30 points; Flex - 40 points

After Jan 2017 - Restricted econ 30 points, discount 60 points and econ 90 points

Airline partners/ alliance

Qantas, Jetstar, American Airlines, Airberlin, British Airways, Cathay Pacific, Dragon Air, Finnair, Iberia, Japan Airlines, LAN, Malaysian Airlines, Qatar, Royal Jordanian, S7 Airlines, Srilankan Airlines, TAM, *condition applies

Alitalia, Air NZ, Delta Airlines, Etihad, Hawaiian Airlines, Singapore Airlines, Silk Air, South African Airways, Virgin America, Virgin Atlantic *condition applies

Family Pooling

Not applicable

Yes - up to 6 family members living at same household


Not applicable

Thanks to our partnership with flybuys, you'll also earn Status Credits when you shop by using your linked flybuys card at Coles, Coles Online, Liquorland or First Choice Liquor. You'll earn 1 Status Credit for every $100 spent on eligible

Status benefits

50% more Qantas Points
Seating privileges
Complimentary Qantas Club lounge invitation
Status Hold - Parental Leave benefit for growing families
Priority telephone service in Australia
Enhanced seating privileges
Preferred seating
Preferential access to selected Qantas Classic Flight Reward seats
International Classic Upgrade Reward Request Priority
Priority check-in
Complimentary Q Bag Tags
Extra checked baggage allowance
An invitation to The Qantas Club - complimentary single-visit invitation
Priority Waitlist/Airport Standby

75% more Qantas Points
Priority boarding
Global lounge privileges
Status Hold - Parental Leave benefit for growing families
Priority boarding
Access Premium Security Lanes
On Departure Upgrade requests for domestic flights in Australia
Gold members can enjoy access to Qantas Clubs and International Business lounges for you and one guest and up to two children (aged between 4 and 17)

Velocity point bonus
Preferential seating
Priority phone service
Priority wait list
international priority checkin
Virgin aust lounge - 2 complimentary for silver; access for gold
complimentary baggage allowance
Premium lounge sydney, melbourne, brisbane
priority boarding
domestic priority check in
upgrade me points for international long haul flights to LA and Abu Dhabi
fly ahead
priority screening
priority baggage
complimentary partner hotel membership for one year - IHG reward club or Hilton
complimentary car hire membership - europ car priviledge program or hertz gold plus reward for one year
access to any servcorp city coworking space one day a month world wide
Global lounge access
Once a year, Gold members are guaranteed to be able to redeem up to four return Economy Reward Seats to any destination within Australia when travelling with Virgin Australia.
Personalised baggage tag

Gold members are eligible to access Virgin Australia Lounges for onward domestic travel with Virgin Australia on the day.
Virgin Australia Lounge members and Velocity Gold members may invite one accompanying guest to the Virgin Australia Lounge at no charge. Velocity Platinum members may be accompanied by up to three guests at no charge.
Guests do not need to be travelling with Virgin Australia to join members. Additional guests will be charged $65 at the lounge reception.



Jetts gym
Red Balloon
Virgin Mobile
MyPost digital mailbox
Cover more
Virgin money
Midas car service
Wilson parking
# see links below

Status expiration

Have to achieve Status before your membership anniversary.

Hit your Status within a year from a specified point on your activity statement (when you earn the status).

Airline Comfort

- better check in (for luggage, domestic)
- better inflight entertainment
- better food on the plane (negated by lounge)

Credit Card


Haven't done my research yet

Virgin Australia Velocity Flyer Card
Earn up to 40,000 bonus Velocity Points
129 Gift voucher each year - make a retail purchase prior to requesting booking
Velocity points 1 per $2
0% balance transfer for first 6 months
$129 fee per annum
rate 20.99%
approx 3-4% foreign transaction fee

Travel Card

Qantas cash - details (fee) TBC

Virgin Global Wallet - fees TBC


search using Qantas website

see website, notable ones: Adina, Chifley, Clarion, Comfort, Country Comfort, Crowne Plaza, Econolodge, Holiday Inn, Intercontinental, Park Royal, Vibe


# Links:





Scott Dickson’s (Barefoot Blueprint Member) analysis spreadsheet: https://docs.google.com/spreadsheets/d/1cmkLHJPiu6Y26zCAxL7-u6ZzcK2D4Xh0b_6DuQ1jRVU/htmlview#gid=0

Barefoot and the Boss Dec 2016:

1.     Do not predict the market (by extrapolating current events). You cannot predict when a price of an investment will drop/rise and when. You can however see a cycle and be prepared to return to means. For example, if you see extreme pessimism and market crashing, you know it will rebound. You cannot figure out when and by how much, but you know it will rebound. Same applies to historically low interest rate. It will go up and property price will be impacted.

2.     Do not borrow money to invest.

3.     You can hold a very profitable share and ride up and down. Selling at high means a step backward due to capital gain tax.

4.     Do not value a price based on growth “potential”. Price to earnings ratio is the right measure.

5.     Always have enough cash supply - so you can ride during the low, or even better buy good bargains.


Breakfree portfolio

1.     ASX 200 Streettracks STW 35%

2.     Vanguard Australian Small Companies Index ETF VSO 15%

3.     iShares Global 100 ETF IOO 20%  -- or even better VGAD

4.     Vanguard Australian Property Securities ETF VAP 20%

5.     Vanguard Australian Fixed Interest ETF VAF 10%

https://barefootinvestor.com/four-efts-add-your-portfolio/  -- additional ETFs to consider:

1.     S&P Global 100 Index i-shares Fund

2.     SHARES MSCI Emerging Markets Index Fund -- On a cautionary note, while the opportunities are immense, so are the risks.

3.     The S&P GSCI Commodity-Indexed trust: tracks an index of 24 commodities, together with the i-shares gold, and silver trusts.

4.     The i-shares S&P Global Technology Sector Index Fund




Market throw opportunity. It doesn't tell you anything about the right price.

You find a profitable company, decide how much to pay and wait until the market price reaches that.

Buffett didn't but during GFC because of timing. He doesn't time the market. It's because the companies he wanted were becoming within his buy price.

Be patient. Is not about activity. Nothing wrong with having cash reserves. Buy at the right price instead.

How to grow money: (1) time the market is impossible (2) Buy profitable company at the right price




1.     OzBargain newsletter – bargain, competition, etc

2.     Plan ahead splurge: groupon, scoopon, special cashback (e.g. Amex) promotion etc. For example, on Christmas, you can use groupon to get lunch deal

3.     Try to see points website: https://flybuyseshops.com.au/  (watch out to make sure that you don’t pay more by using their referral links)


Travel Card Recommendation


1.     https://www.canstar.com.au/travelex-multi-currency-cash-passport/

2.     Other recommendation: Bank West, Citibank and 28degree (still need to be compared)


Travel Tips


1.     Multiple one way (or around the world travel) can be cheaper than return ticket: https://www.theurbanlist.com/sydney/a-list/10-travel-hacks-every-millennial-should-know-expedia-amex-travel16





I remember reading a book by Dalai Lama called The Path to Happiness. One of the key way to happiness is to stop comparing yourself (your neighbour will have a bigger house, a better-looking car, etc). So this benchmark is not intended to provide comparison that will remove happiness from you. Rather it is an encouragement to show you what is possible.