Autumn
2014
Welcome to the AUTUMN EDITION
Autumn 2014
Contact Us Hammock Financial Group Tel 07 4642 1179 Email hello@hammockfinancial.com.au Web www.hammockfinancial.com.au Address Lvl 1, 516 Ruthven St, Toowoomba Postal PO Box 1869, Toowoomba Qld 4350
Hammock Financial Group Pty Ltd (ABN 88 150 832 232) is an Authorised Representative of AMP Financial Planning Pty Limited. Any advice contained in this newsletter is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. For important information about us, our services and to read our Financial Services & Credit Guide (FSCG) please visit www.hammockfinancial.com.au.
Autumn Edition 2014
In this issue... The gift every mum should give herself Mothers are the masters of multi-tasking but often have little spare time to look after themselves. This Mother's Day there is one important gift mothers can give themselves - the gift of a secure financial future by ensuring their super is on track.
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Common myths and mistakes of investing The increasingly complex nature of investment markets leads many to adopt simple rules of thumb often based on common sense, when making investment decisions. Unfortunately though, the forward looking nature of investment markets means such approaches often cause investors to miss out on opportunities at best or lose money at worst.
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Saving is a family affair You eat together, play together and live under the same roof – so why not save together? Simple saving ideas for the whole family!
p. 13
Making a smooth transition Retirement used to represent a sharp break with the past-one day you were working full time, the next you were sitting at home with the rest of your life ahead of you. These days, the transition doesn't have to be quite so abrupt.
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Australia's growing population - get ready With Australia's population expected to swell by mid-century and the first wave of baby boomers reaching retirement, building up the nest egg has become more important than ever.
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Access your finances on the move Technology is changing the way we live. Whether it's buying our groceries or finding out what's happening in the world, we expect instant access. And it's no different when it comes to our money.
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Ideas that won't break the budget Mother's Day Special! We've scoured the internet for clever ideas every day people are coming up with. From cheap and tasty recipes, clever uses for everyday things and DIYs that will blow your mind, we're on it and want to share it with you!
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Mother's 12 14 Day
OCT
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The gift
EVERY MUM should give herself Mothers are the masters of multi-tasking, rarely blinking an eyelid when it comes to juggling work, parenting and running a household. Because busy mums are often caught up in the day-to-day responsibilities of caring for others, they often have little spare time to look after themselves.
The reasons women have less super: Women are more likely to work part-time or casually Women earn, on average, 17 per cent less than men and are less likely to hold senior or managerial positions Women often take time out of the workforce while raising a family There are some steps women can take to rectify this super imbalance and help ensure they retire with enough money to live on - an even more important goal when you consider that women have a longer life expectancy than men. This means women are on average spending a lot more time in retirement than men so their super needs to last longer.
But there is one important gift mothers can give themselves on Sunday, May 12 – the gift of a secure financial future. This Mother’s Day, every mum should make a promise to get their super on track once and for all. According to recent statistics, the average superannuation payout at retirement for women is $112,600 compared with $198,000 for men.*
$112,600
$198,000
* Source: ‘Women and Super – the Facts’, 2013, Australian Institute of Superannuation Trustees.
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Top
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5
super boosting tips for women
Take stock of your super – Firstly, get your superannuation statement out and check how much you have. Consider the lifestyle you want in retirement and seek professional advice. A financial planner can help you work out exactly how much super you will need and a strategy for achieving your desired nest egg. According to the Federal Government’s Money Smart website, a couple retiring at age 65 with a life expectancy of 85 will need $412,000 to live a modest lifestyle and $716,000 for a comfortable lifestyle. Consolidate your super – Women often have multiple super funds, because they are more likely to work in part-time jobs and may change employment more frequently. Small, dormant accounts can be eroded by fees, so it can be beneficial to consolidate your super into a single fund. Websites such as www.findmysuper.com.au can help you track your missing super. Salary sacrifice – While your employer must contribute the 9.25 per cent Government Super Guarantee (increasing to 9.5% from 1 July 2014), you can boost your nest egg dramatically by salary sacrificing
and the earlier you start the better. Depending on how much you can afford, try to put another 2-5 per cent of your income into your super. Under the current rules, you can add up to $25,000* of pre-tax earnings (less your SG contributions) to your super each year and have it taxed at the concessional rate of 15 per cent – rather than at your marginal tax rate.
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Spouse contributions – This is a good strategy for women if they are not working or are working part-time while raising a family. Their partner can make contributions to their superannuation and potentially receive an 18 per cent tax offset. Over the years, this will help bridge the gap between a couple's super accounts. Co-contribution – Lower income earners should also make the most of the Federal Government co-contribution scheme. If you earn under $33,516 and make a personal after-tax superannuation contribution during the 2013/2014 financial year, the Government will match your contributions at a rate of 50 per cent up to $500 per year.
* Or up to $35,000 pa if you are 59 years or older
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There are many other ways women can boost their super and a financial planner can help you work out the best strategy to suit your personal needs, whether you're a part-time or full-time employee, stay-at-home-mum or self-employed. While it is important for women to start building their nest egg early on, it is never too late to get your retirement planning on the right track, so why not pledge to do something about it this Mother’s Day.
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common MYTHS
&
mistakes of
investing
The increasingly complex nature of investment markets leads many to adopt simple rules of thumb often based on common sense, when making investment decisions. Unfortunately though, the forward looking nature of investment markets means such approaches often cause investors to miss out on opportunities at best or lose money at worst. This notereviews some of the common myths and mistakes of investing.
Myth # 1: Rising unemployment means growth can’t recover Whenever there is a downturn this argument pops up. But if it were true then economies would never recover from recessions or slowdowns. But they do. Rather, the boost to household spending power from lower mortgage rates and any tax cuts or stimulus payments during recessions eventually offsets the fear of unemployment for those still employed. As a result they start to spend more which gets the economy going again. In fact, it is normal for unemployment to keep rising during the initial phases of an economic recovery as businesses are slow to start employing again fearing the recovery won’t last. Since share markets lead economic recoveries, the peak in unemployment usually comes after shares bottom. In Australia, the average lag from a bottom in shares following a bear market associated with a recession to a peak in unemployment has been twelve and a half months. Based on All Ords. Source: Bloomberg, Thomson Financial, AMP Capital
Hence the current cycle where the share market has gone up despite rising unemployment and headline news of job layoffs is not unusual.
Myth #2: Business won’t invest when capacity utilisation is low This one is a bit like the unemployment myth. The problem is that it ignores the fact that capacity utilisation is low in a recession simply because spending is weak. So when demand turns up, profits rise and this drives higher business investment which then drives up capacity utilisation.
Myth #3: Corporate CEOs, being close to the ground, should provide a good guide to where the economy is going Again this myth sounds like good common sense. However, senior business people are often overwhelmingly influenced by their own current sales but have no particular lead on the future. Until recently it seemed Australian building material CEOs saw no sign of a pick-up in housing construction even though it was getting underway. Now it’s widely accepted. This is not to say that CEO comments are of no value – but they should be seen as telling us where we are rather than where we are going.
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Myth #4: The economic cycle is suspended A common mistake investors make at business cycle extremes is to assume the business cycle won’t turn back the other way. After several years of good times it is common to hear talk of “a new paradigm of prosperity”. Similarly, during bad times it is common to hear talk of a “new normal of continued tough times”. But history tells us the business cycle will remain alive and well. There are no such things as new eras, new paradigms or new normals.
Myth #5: Crowd support indicates a sure thing This “safety in numbers” concept has its origin in crowd psychology. Put simply, individual investors often feel safest investing in a particular asset when their neighbours and friends are doing so and the positive message is reinforced via media commentary. But it’s usually doomed to failure. The reason is that if everyone is bullish and has bought into the asset there is no one left to buy in the face of more good news, but plenty of people who can sell if some bad news comes along. Of course the opposite applies when everyone is bearish and has sold – it only takes a bit of good news to turn the market up. And as we have often seen at bear market bottoms this can be quite rapid as investors have to close out short (or underweight) positions in shares. The trick for smart investors is to be sceptical of crowds.
Myth #6: Recent returns are a guide to the future This is a classic mistake investors make which is rooted in investor psychology. Reflecting difficulties in processing information and short
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memories, recent poor returns are assumed to continue and vice versa for strong returns. The problem with this is that when its combined with the “safety in numbers” myth it results in investors getting into an investment at the wrong time (when it is peaking) and getting out of it at the wrong time (when it is bottoming).
Myth #7: Strong economic/profit growth is good for stocks and vice versa This is generally true over the long term and at various points in the economic cycle, but at cyclical extremes it is invariably very wrong. The big problem is that share markets are forward looking, so when economic data is really strong – measured by strong economic growth, low unemployment, etc – the market has already factored it in. In fact the share market may then fret about rising costs, rising inflation and rising short term interest rates. As an example, when global share markets peaked in October/November 2007 global economic growth and profit indicators looked good. Of course the opposite occurs at market lows. For example, at the bottom of the global financial crisis (GFC) bear market in March 2009, economic indicators were very poor. Likewise at the bottom of the mini-bear market in September 2011 economic indicators were poor and there was a fear of a “double dip” back into global recession. But despite this “bad news” stocks turned up on both occasions, with better economic and profit news only coming along later to confirm the rally. History indicates time and again that the best gains in stocks are usually made when the economic news is poor and economic recovery is just beginning or not even evident, as stocks rebound from being undervalued and unloved.
Myth #8: Strong demand for a particular product or stock market sector should see stocks in the sector do well and vice versa While this might work over the long term, it suffers from the same weakness as Myth #7. By the time demand for a product (eg, new residential homes) is really strong it should already be factored into the share prices for related stocks (eg, building material and home building stocks) and thus they might even start to start to anticipate a downturn.
Myth #9 Countries with stronger economic growth will see stronger equity market returns In principle this should be true as stronger economic growth should drive stronger revenue growth for companies and hence faster profit growth. It’s the basic logic why emerging market shares should outperform developed market shares over time. But it’s not always the case for the simple reason that often companies in emerging countries may not be focussed on maximising profits but rather may be focussed on growing their market share or social objectives such as strong employment under the influence of their government.
Myth #10: Budget deficits drive higher bond yields
are usually associated with recession or weak economic growth and hence weak private sector borrowing, falling inflation and falling interest rates so that bond yields actually fall not rise. This was evident in both the US and Australia in the early 1990s recessions and evident through the GFC that saw rising budget deficits and yet falling bond yields.
Myth #11: Having a well diversified portfolio means that an investor can take on more risk This mistake was clear through the GFC. A common strategy had been to build up more diverse portfolios of investments with greater exposure to alternative assets such as hedge funds, commodities, direct property, credit, infrastructure, timber, etc, that are supposedly lowly correlated to shares and to each other. Yes, there is a case for such alternatives, but last decade this generally led to a reduced exposure to truly defensive asset classes like government bonds. So in effect, investors actually began taking on more risk helped by the “comfort” provided by greater diversification. But unfortunately the GFC exposed the danger in allowing such an approach to drive an increased exposure to risky assets overall. Apart from government bonds and cash, virtually all assets felt the blow torch of the global financial crisis, as supposedly low correlations amongst them disappeared.
It's common sense that if the government is borrowing more (higher budget deficits) then this should push up interest rates (the cost of debt) and vice versa, but it often doesn’t turn out this way. Periods of rising budget deficits
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Myth #12: Tax should be the key driver of investment decisions For many, the motivation to reduce tax is a key investment driver. But there is no point negatively gearing into an investment to get a tax refund if it always makes a loss.
Myth #13: Experts can tell you where the market is going I have to be careful with this one! But the reality is that no one has a perfect crystal ball. And sometimes they are badly flawed. It is well known that when the consensus of experts’ forecasts for key economic or investment indicators are compared to actual outcomes they are often out by a wide margin. Forecasts for economic and investment indicators are useful, but need to be treated with care. And usually the grander the call – eg prognostications of “new eras of permanent prosperity” or calls for “great crashes ahead” – the greater the need for scepticism as such strong calls are invariably wrong. Like everyone, market forecasters suffer from numerous psychological biases and precise point forecasts are conditional upon information available when the forecast is made but need adjustment as new facts come to light. If forecasting the investment markets was so easy then everyone would be rich and would have stopped doing it. The key value in investment experts’ analysis and forecasts is to get a handle on all the issues surrounding an investment market and to understand what the consensus is. Experts are also useful in placing current events in their historical context and
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this can provide valuable insights for investors in terms of the potential for the market going forward. This is far more useful than simple forecasts as to where the ASX 200 will be in a year’s time.
Conclusion The myths cited here might appear logical and consistent with common sense but they all suffer often fatal flaws, which can lead investors into making poor decisions. As investment markets are invariably forward looking , common sense logic often needs to be turned on its head when it comes to investing.
Written by: Dr Shane Oliver Head of Investment Strategy and Chief Economist AMP Capital Important note: While every care has been taken in the preparation of this article, AMP Capital Investors Limited (ABN 59 001 777 591, AFSL 232497) and AMP Capital Funds Management Limited (ABN 15 159 557 721, AFSL 426455) makes no representations or warranties as to the accuracy or completeness of any statement in it including, without limitation, any forecasts. Past performance is not a reliable indicator of future performance. This article has been prepared for the purpose of providing general information, without taking account of any particular investor’s objectives, financial situation or needs. An investor should, before making any investment decisions, consider the appropriateness of the information in this article, and seek professional advice, having regard to the investor’s objectives, financial situation and needs. This article is solely for the use of the party to whom it is provided.
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Saving is a
FAMILY AFFAIR IDEAS FOR THE ENTIRE FAMILY
Simple saving ideas for the whole family You eat together, play together and live under the same roof – so why not save together? While many parents bear the brunt of their brood’s finances, it’s a good idea to consider making household saving a family affair by involving kids in the process. With the cost of living on the rise, many Australian families are finding it hard to keep up with today’s growing list of expenses. Groceries, petrol, mobile phones, and kids’ sport – the bills just keep adding up.
goals will help you to prioritise what’s important for your family now and into the future. Get your kids involved by asking them what they hope to achieve this year. If funds are tight, prioritise the list together by working out what is most important to make sure they don’t miss out.
Simple saving ideas for the entire family :
2. Be a positive role model Kids form many of their habits and attitudes early on by watching their parents, so it is important that you demonstrate good financial practices whenever possible. Using lay-by rather than relying on credit cards will show your children that you should only purchase what you can afford. You can also teach your kids to be savvy spenders by showing them how to shop around for the best price. Modelling positive financial decision-making will help your kids avoid the dangerous path of debt later in life.
1. Plan for the future A goal without a plan is just a wish, so it’s important to take the time to sit down as a family and discuss your financial priorities for the year ahead. Whether you plan to buy a new family car, have an overseas holiday or upgrade to a bigger home, establishing clear
3. Spread the load Kids should be made aware of how their actions impact on household finances early in life. While younger children shouldn’t be expected to make financial contributions, they should be able to contribute around the house. Simple measures such as turning off
It is never too early to teach your children about money, shape positive habits, and instil valuable life lessons. By getting the whole family on board, not only will you help your kids develop into money savvy adults, you’ll also play a helping hand in creating a more prosperous future for you and your spouse.
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the lights, having shorter showers and unplugging computers from the wall at night can all make a big difference to household running costs. By setting these expectations early on, your kids will be on the right path to managing their own expenses when they leave home. 4. Cost of responsibility With the cost of rent increasing, young adults are flying the coop much later in life. It’s important to ensure children over the age of 18 are contributing to household expenses financially, rather than simply helping out with chores. Sit down with your child and go through your household expenses. Explain that in order to remain at home, you expect them to set aside weekly amounts of money to cover their share of board, groceries, utilities and mobile phone costs. Not only will this give young adults a greater share of responsibility, it will also encourage them to enter the workforce. Nothing in life comes free, and the earlier kids learn this, the better off they will be when it comes to managing their own finances as they get older.
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making a
SMOOTH TRANSITION
With a Transition to Retirement strategy you can continue working AND access your super. Retirement used to represent a sharp break with the past—one day you were working full time, the next you were sitting at home with the rest of your life ahead of you. These days, the transition doesn’t have to be quite so abrupt. Many Australians are keeping themselves active and engaged by continuing for longer in the workforce on a part-time or contractual basis. In fact, more than two in five Australians who work full time and intend to retire are looking to reduce their hours first.[1] The good news is that in the few years prior to retirement you can start to draw an income from your retirement nest egg while you continue working and contributing towards your super. Access your super the smart tax way If you’ve reached your super ‘preservation age’ (currently 55 but rising to 60), you can take some of your existing super as an income stream to help make your transition to retirement a smooth one.
This is called a transition to retirement (TtR) strategy. And it can be very tax effective. You can continue to work and contribute towards your super using tax-effective salary sacrifice contributions. You can top up your income with a tax-effective income stream from your retirement account (between 4% and up to 10% of the account balance can be drawn each year). And there’s even a way to ‘refresh’ your TtR strategy every year for potentially even more tax benefits There are two main ways you can use a TtR strategy. 1. Less work, potentially the same after-tax income The first option is a TtR strategy that may allow you to cut down your working hours while maintaining the same level of after-tax income. Let’s say you’re over 55, you earn $75,000 a year before tax and you have $250,000 in your super.
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As shown in the table below, by using a TtR strategy, you can maintain your after-tax income, despite reducing your work hours.
But it does come at a price—your super balance may dwindle over time as you draw down your pension payments.
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2. Same hours, more super The other option is a TtR strategy that may allow you to maintain your work hours, but increase your salary sacrifice contributions to super, and supplement your income with a TtR pension so that there is no reduction in your after-tax income. So let’s say you’re over 60, earning $60,000 a year before tax and you have $200,000 in your super, and you choose to use the full amount to start a pension. As shown in the table below, together with your pension income, you can salary sacrifice $24,380 a year and still receive the same amount of after-tax income in your pocket.
What’s more at the end of the year, you’ve boosted your super by $953. If you do this for ten years, that’s potentially an extra $9,530 for your retirement, simply by managing your money in a different way.
What you need to know The examples provided are illustrative only and are not an estimate of the income you will receive or fees and costs you will incur. The examples are based on the following assumptions:
Finding the right balance A TtR strategy can be an effective way to boost your super savings, but it also has superannuation, taxation and social security implications.
$35,000 p.a. concessional cap for individuals aged 60 and over, and after allowing Superannuation Guarantee contributions of 9.25%, the concessional cap is not exceeded. Tax rates for 1 July 2013 have been applied Individual earns less than $300,000 pa
We can help you strike the right balance and work out how to make your transition to retirement. To find out more about TtR strategies or whether a TtR strategy may be suitable for you, call us today on 07 4642 1179.
[1] http://www.ausstats.abs.gov.au /ausstats/subscriber.nsf /0/61A0264E827F59C4CA25768E00 2C8F72/$File /62380_jul%202008%20to%20jun%2 02009.pdf
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AUSTRALIA'S
GROWING POPULATION Get ready!
There are 5.2 million boomers in Australia born from 1946 to 1964. This compares with six million generation Xers born between 1965 and 1983. Generation Y, born across the 18 years to 2002, is expected to peak at about 7.4 million next decade. [1]
With Australia’s population expected to swell by mid-century and the first wave of baby boomers reaching retirement, building up the nest egg has become more important than ever. [2]
Late boomers, generation X and Y have contributed to their superannuation fund for most of their working lives and are expected to be largely self-funded in retirement from the mid-2020s onwards. However, there is a large gap for the baby boomers retiring now between the
Generational
financial strategies
superannuation they have and the amount they need for retirement. Either generation X and Y will be forced to support them in the form of more taxes, or Australia will need to import more taxpayers to spread the load. [3]
Each generation has its own financial challenges and strategies vary depending on the stage of life people face.
Age 25-35: With a higher disposable income and less family expenses, this is a good time to accumulate assets. Aged 35-45: Paying down the mortgage and increasing home equity is the focus. Age 45-55: Now is the time to shift focus to extra contributions to the retirement nest egg. Debt elimination remains a priority. Age 55-65: Preservation of investment capital becomes more of a priority in addition to accumulation of capital. The last years of work should be devoted to topping up superannuation contributions. Source: ‘Super success achieved in stages;, 28 July, 2013, The Sydney Morning Herald, viewed 15 November
Market conditions Whether the retirement age should be lifted to 70 along with compulsory superannuation being increased from 9.25% to 12% are among the policies being explored[4] to cope with a “big Australia”. The Australian Bureau of Statistics recently projected the population would surge to 38 million by 2051.[5]
[1] ‘We are at a population tipping point’, 6 December, 2013, The Australian Financial Review, viewed 15 November, 2013 [2] ibid [3] ibid [4] Commonwealth Government – Department of Treasury [5] www.abs.gov.au
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A chart that featured in a November 30 article in The Australian by demographer Bernard Salt shows two possible pathways beyond 2012. One assumption puts net overseas migration at 140,000 a year and the other at 240,000 a year. The second chart shows the net addition to the
Government spending across housing, health, infrastructure and pensions will have to increase further to accommodate greater boomer numbers.
the future for BIG AUSTRALIA
Salt argued net overseas migration of 242,000 people a year in the next 40 years could provide the skills and tax required to support the transition of baby boomers into retirement. Government spending across housing, health, infrastructure and pensions will have to increase further to accommodate greater boomer numbers.
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retirement population averaged about 40,000 a year between 1950 and 2010. From 2010, more than 100,000 people annually joined the retirement ranks, with the number tipped to rise to 140,000 a year.
Whatever stage you are at in your life, there is never a better time for you to plan your future. Speak to your adviser to see how they can help.
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AMP’s digital tools can help you take control of your money and own your tomorrow Technology is changing the way we live. Whether it’s buying our groceries or finding out what’s happening in the world, we expect instant access. And it’s no different when it comes to our money. At AMP we’re helping you access your finances on the move, wherever and whenever you like. Go digital with AMP’s new mobile app—on iPhone, Android and soon on tablet AMP. Own Tomorrow is the first app in Australia where you can access your banking, insurance, investments and your super—all from one place. We’ve got mobile banking covered, with everything you’d expect to access your AMP Bank account on the go, including transferring money, viewing your account balance, rediATM maps and more You can even set up alerts to tell you when your AMP Bank account balance is low and when money is paid in or taken out. And we’re putting super, insurance and investments where they belong—right in the centre of your financial world so it's quick, easy and mobile. You can check your super balance, beneficiaries and investments as well as your insurance inside and outside super.
You can also: set up alerts that tell you when payments hit your super account; and get help to start consolidating your super accounts. Get started in three easy steps: 1. Have your BankNet (banking) and/or My Portfolio (super/insurance/investments) details handy. 2. Download the app from the App Store or Google play. 3. Follow the easy set-up instructions and you’re good to go. Putting super front and centre It’s easy to put your superannuation on the back burner. After all, retirement could be a fair way away. And you’ve got so many more pressing financial concerns—paying the bills, covering the mortgage and putting food on the table. But if you simply ‘set and forget’ your super, you may not be putting yourself in the best position come retirement time. Do you have the best investment strategy for your individual needs? Will you have enough to enjoy a comfortable retirement? Will your money go to the people you want to benefit if anything happens to you? It makes sense to take a closer interest in your super. After all, it’s your money. And it’s your future that will be shaped by how much you have saved when you stop working.
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My Portfolio—your secure online gateway To access AMP’s new mobile app, you’ll need to activate your online account at My Portfolio – your secure online gateway to your AMP accounts. With its fresh look and easy-to-use navigation, My Portfolio is a great way to access up-to-date information about your super, insurance and investment portfolio, and take control of your super future
Download the App now!
See inside the new AMP mobile app
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Cos' they can help with all this...
WHAT MAKES FINANCIAL
PLANNERS SO GOSH
DARN USEFUL? What can we help you with?
DEAS THAT WON'T BREAK THE BUDGET
Mother's Day SPECIAL We've scoured the internet for clever ideas every day people are coming up with. From cheap and tasty recipes, clever uses for everyday things and DIYs that will blow your mind, we're on it and want to share it with you!
Got a clever idea or tasty recipe? Email us at hello@hammockfinancial.com.au and you could see your idea in our next newsletter!
Mmmmm Banana Pancakes There's no monkeying around when we say that we're bananas over this pancake recipe! Tastes awesome AND it's good for you? Fire up the griddle now and don't be stingy on the maple syryp! It's Mother's Day people! Link: Pop over to www.mrfood.com for this tasty recipe
Say it with (Paper) Flowers Nothing says Mother's Day like flowers. Spoil mum with flowers that won't wilt away and die! These blossoms are so simple to make, it's crazy! Link: Find the tutorial at www.mrsthreeinthree.com
Cheesy Ham & Spinach Egg Cups What I love about this recipe is that even the smallest kids can help prepare it as it involves no chopping or dicing. Dad might have to help with cracking the egg and removing the pan from the oven, but the assembly is all kid-friendly! Link: Find this easy recipe at www.blogher.com
Make a Clay Jewellery Dish for Mum These adorable little dishes are very useful gifts for Mother's Day to store coins, keys, and jewellery. They are also fun to make and quite addictive. Link: Learn how at www2.fiskars.com
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