News Archive for December 2017

Aussie travellers are losing an average of $448 a year to avoidable tourist traps, according to recent Mozo research.

Unless you’ve been living under a rock, you won’t be shocked to learn that many credit cards come with a range of rewards - namely in the form of rewards points.

Each new year brings with it new goals and aspirations, but when it actually comes to thinking about resolutions for 2018 where should you begin?

We all think we have it tough around Christmas, especially with our credit cards swiping like crazy.

For many Aussies, the journey to work often begins with two taps: one with their Opal card and the other to pay for breakfast with their debit card.

Summer is the perfect time for hanging out with friends and doing all the things you love, like shopping, eating out and ... planning that next trip away together.

Congratulations, you’ve managed to get all of the gifts under the Christmas tree and the fridge is fully stocked, but after a frantic December, are you a little hesitant to take a peek at your credit card statement?

Finding the right lender to suit your money needs hasn’t always been easy - in fact, some borrowers would probably rather close their eyes and pick at random!

Put simply, you’re either a summer person or you’re not. And if the sound of waves crashing and the opportunity to get a glowing tan is not your cup of (iced) tea, then we’re guessing your summer will probably be spent indoors. But by doing this, you run the risk of sending your energy bill through the roof. Luckily, there are a few things you can do to keep your cool over summer without the air-con.

2017 has truly been a year of flux in the Australian banking sector, with plenty of upheaval and a heap of changes and new products that have altered the way we bank now, and will bank in the future.

You know what they say, “new year, new financially-savvy, money-wise me.”

Recent research from international money transfer specialist Transferwise has shown that although Australia is a multicultural society with many residents who were born or have relatives overseas, we only have a hazy understanding of sending money to our loved ones across borders.

Aussies are racking up personal loan bills that now total close to $6.4 billion across the country, according to the ABS’ recently released Lending Finance data for the month of October.

A novel solution designed at combating credit card fraud could soon be a standard feature on your plastic, with the MOTION CODE credit card set to be released in Australia for the first time by mid 2018.

In 2017, Mozo revealed that the Bank of Mum and Dad is the fifth biggest lender in Australia, shelling out a massive $65.3 billion to help young adults enter the property market, without charging fees, or for the most part, interest. But it turns out homebuyers who head back to the family home might pay for it in other ways - namely, by getting stuck in awkward situations.

Household electricity prices are predicted to fall by an average of 12% by mid-2018 according to a recent energy trend analysis by the Australian Energy Market Commission (AMEC).

One of the best things about Christmas is that no two families do it the same but for many, it involves a road trip which inevitably results in screaming kids in the backseat from the moment you leave home till you arrive at the perfect holiday home. But if you’re on the other side of the fence and are about to rent out your holiday home, or use it as an AirBnb, here a few tips that’ll help you prevent a home insurance disaster.

It turns out the biggest barrier holding Aussie women back from their dreams in the coming year won’t be a lack of time, motivation or know-how - for a majority of women, finances are the biggest hurdle to overcome.

Following the discovery of a 23-year glitch, Westpac will be refunding up to $11 million in home loans to around 9,400 interest-only loan customers.

The festive season is a joyous, albeit pricey time of year and with less than two weeks till Santa climbs down your chimney, you might have realised you’re going to need a little extra financial muscle to get every gift under the tree in time for Christmas Day.

It’s no real secret that Aussies love heading on an end-of-year holiday over the Christmas and New Year period, but when you’re spending $600 on beer over the break and almost $500 on vacation vino, you don’t want to be forking out for a home insurance claim.

Sydney property prices have fallen by 1.4% during the September quarter, which is reportedly its largest fall since the 2015 December quarter, according to recent figures by the Australian Bureau of Statistics (ABS).

Sydneysiders clear your lunch schedule and ready your bank account, because ME is offering a seriously appealing prize for the winner of its Christmas treasure hunt.

As of yesterday, insurance provider, Youi will now sell compulsory third-party insurance (CTP) to Aussies living in New South Wales.

We can now pay for our morning coffee with a wave of our credit card, mobile phone, watch or wristband, not to mention a host of other wearables - but what about when it comes to receiving payments?

Love them or loathe them, school holidays are a major chunk of every parent’s calendar. In the summer holidays, keeping kids entertained, cool and active takes considerable brain power.

In recent plastic news, Debit Mastercard are taking on millennials by releasing the first of its kind in Australia - a Debit Mastercard rewards program.

Finding the best value energy plan for your household is not always easy - discounts, usage rates and feed-in tariffs are just some of the things Aussies need to consider. And now, an extra consideration has been thrown into the mix - to fix or not to fix?

This November, Aussies broke the record for the number of rooftop solar systems installed in one month, totalling 120MW of capacity, according to Green Energy Markets Director of Analysis & Advisory, Tristan Edis.

168,000 South Australian residents will be offered the chance to slash up to $531 off their annual energy bills thanks to a new partnership between Origin Energy and the Weatherill State Government, but the outlook isn’t looking so pretty for the rest of the market in 2018.

Travelling overseas for the family holiday is an increasingly popular end-of-year option for Aussie households especially after the pandemic lull of the last few years. So why then do we wait so long to organise one of the most important ingredients for a successful overseas holiday - travel insurance?

As credit cards are expected to become the shopping sidekicks for many Aussies this December, it’s no surprise that fraud is on the brain for payment giant, Visa.

Christmas may have come early for travel junkies and frequent flyer points lovers alike, with the launch of the newest credit card offering by Qantas - the Qantas Premier Everyday Mastercard.

If you’re like a host of other adventurous Aussies, you’ve probably spent the last few months booking flights, organising accommodation and sorting out car hire and now you’re eagerly awaiting the day you head abroad.

In just three months since APRA pushed for tougher lending criteria, interest-only home loans have now dropped to a historic low of 16.9% of new lending, from 30.5% in June.

It’s supposedly the happiest time of the year, but data from St.George has revealed that Australians are suffering from the ‘holiday blues’, thanks to high holiday rates, an increase in grocery bills and the struggle to afford Christmas presents.

If you’ve been patiently watching your rewards credit card points balance climb throughout 2017 in anticipation of redeeming them for Christmas presents then you’d better be quick, because the delivery deadlines for a number of the major banks are fast approaching.

The pain has continued today for Australians eager to get the best returns on their savings account balances, with RAMS becoming the latest online provider to slash rates - dropping its Saver Account interest rate by 20 basis points from 3.00% to 2.80%.

If you’ve got your heart set on an end of year holiday or your New Year’s resolution is to finally tackle that kitchen reno, you’ll be glad to hear that there has been a spate of personal loan rate cuts recently.

If you’ve just read the headline, you probably think we’re crazy, but when used responsibly, a credit card can be your saving grace when it comes to taking on Christmas shopping. If you’ve been playing hard to get with your plastic this December, here are our top 3 reasons that might persuade you otherwise.

The Reserve Bank board’s last meeting of 2017 brought no change to the official cash rate, with the record low 1.50% locked in now until the board meets again in February next year.

Tis’ the season of giving, or is it? That widely accepted truism is under threat after a recent survey by ME Bank revealed that Aussies aren’t all that into purchasing presents and will resort to some pretty extreme tactics to manipulate the gifting process this Christmas.

It started out with a few drinks on the weekend, a new pair of shoes to treat yourself for a great work week and a coffee every morning to keep you sane. Now you’ve realised that December has arrived and you’re caught with little savings stashed away. But there’s no need to panic, because you can still guarantee yourself a merry Christmas with our top 10 Christmas savings tips.

As every young driver in Australia knows, car insurance isn’t cheap, with young men the most likely to be stung when it comes to paying their premiums. But are another, growing group of Australians set to be paying more for their premiums in the near future?

December brings with it a couple of colossal calendar events - there is the big family Christmas to prepare for and new year's eve plans to nail down - but above all, it signals the start of the great Aussie summer.

It’s not uncommon for the average Aussie to experience financial stress, particularly with their mortgage, but recent figures from the National Cities Performance Dashboard has revealed that 1 in 10 Western Sydney households have been hit the hardest with ‘mortgage stress’.

Coming out of the quaint Queensland Sunshine Coast is the claim that Aussies could soon cut their energy consumption in half, resulting in cheaper power bills and much-needed relief for energy grids across the country.

With just one month left until the new year ticks over and even less until Santa climbs down the chimney, Aussies might have taken their eyes off the big headlines to come from November. But fear not, we’ve wrapped up the month’s money must-knows, bow and all, so that you can head into, what is sure to be a busy December, financially prepared.