As the Aussie interest rate holds, savers should look for better rates
After the Reserve Bank’s recent May meeting, it seems Australia's cash rate is going to hold at 4.35% a while longer.
Read MoreMillennials and Gen Z struggle the most to meet savings goals – here’s how to buck the trend
Millennials and Gen Z are struggling the most to achieve their savings goals, despite being the most-likely age groups to set them according to data published in the 2024 Mozo SOS Savings Report.
Read MoreLaziness and loyalty: new survey exposes the key factors slugging Aussies with the lowest savings rates
1 in 6 Aussies say they’ve never changed savings accounts “because it’s too much effort”, but a new report from Mozo has found that those of us who haven’t bothered switching are lagging behind with the lowest interest rates.
Read MoreNew report reveals Aussies have head in the sand on savings, despite skyrocketing cost of living
One of the easiest ways you can maximise your money is by signing up to a high interest savings account, yet the latest survey data from Mozo reveals that Aussies have their head in the sand with a whopping 69% saying they have never switched savings accounts.
Read MoreIs your savings rate in the top 10 best interest rates?
While rates are still high, making sure your savings account's interest rate is good can be helpful to your financial goals. It’s important to make sure your savings are not just idling but actively growing. One way to check how you’re going is by looking at how your account stacks up.
Read MoreHave you stuck to your 2024 savings plan?
The first quarter of the year has already flown by, and it's a good time to take stock of your financial progress. Did you manage to stick to your savings plan, or did unexpected expenses and financial challenges derail your goals?
Read MoreAustralia's Best Savings, Term Deposits and Bank Accounts Unveiled
Interest rates in Australia have finally moved up from the record lows of recent years, and so there is now more choice when it comes to finding a decent earnings rate for your savings.But with so many different accounts on the market, from bonus rate savings accounts to fixed term deposits and fee-free everyday banking accounts, it can be daunting to decide which savings option is right for you.
Read MoreBanks offering 5% p.a. interest on savings accounts
With the cash rate currently standing at 4.35%, some savings account providers have brought rates on offer up to and even over 5.00% p.a. This means that, while rates remain high, savers can see their cash earn them a fair amount if they get the highest rates possible.
Read MoreMoney management skills: 6 ways to help you save
NAB did some research on financial literacy last year and found that while many people were confident of their money know-how, one-quarter of Aussies didn’t have enough for an emergency.
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