News Archive for January 2017

Major supermarket, Woolworths, has announced that its Everyday Money Reloadable Prepaid MasterCard has been discontinued.

If you've had the same old rewards credit card kicking around in your wallet for some time now, chances are it's not delivering the value it used to.

Desire among Australian consumers to cut their energy bills and reduce their reliance on the traditional energy market are the major factors behind an upsurge in demand for household solar and battery technology, new research has revealed.

For many Aussies giving more will have been right at the top of their New Year's resolutions list for 2017, and with NAB’s newly launched rewards scheme they may soon find that resolution much easier to keep just by using their credit cards.

Generation Y employees are spending over $200 more than the average Australian on getting ‘work ready’ each month, with costs such as travel, lunches and take away coffees proving the most expensive costs for workers.

As Australia Day festivities across the world kick off today with the annual Australia Day Gala in New York, Aussies celebrating abroad have been warned to keep their celebrations in check to avoid unwanted travel insurance problems.

Wondering what the year ahead has in store for the world of finance? Wonder no more! Mozo has collected our top 10 predictions for spending, saving, budgeting and more in 2017. Check it out below.

Ready to give your newborn baby the best start in life financially? Say hello to kids savings accounts, the virtual piggy banks that often come with sweeter interest rates than banking products for grown ups!

With 2017 underway, Aussies who made a resolution to save more money are doing it tough so far, as Mozo’s data shows that a number of banks have already welcomed the New Year by cutting rates on savings accounts.

Investors have been urged to focus their attention away from Brisbane’s booming apartment market, as oversupply threatens to stagnate capital growth.

Fifty-five home loan providers have flooded Mozo’s database with fixed interest rate increases since the trend started gaining momentum back in October, 2016. That means there are just 23 mortgage lenders left that are yet to move fixed rates up.

Australians are set to be in for a new year credit card shock, with Mozo.com.au predicting that spending during the festive period will bring the average credit card debt to around $4,255.

Record house prices across the country are making it harder for single Australians to enter the property market, with single women the hardest hit.

Hundreds of property industry professionals in NSW are confident that the next quarter will deliver healthy returns to investors, projecting the most positive outlook of all states.

In a move set to limit the inconvenience of lost or stolen bank cards, ANZ has announced a service which will enable customers to continue using their digital wallets with a ‘virtual’ replacement card.

One in five owner occupiers are at risk of plunging into severe financial stress, if predictions ring true and the RBA lifts rates mid 2017, according to new research.

Whether it’s a trip to Asia or buying their first home, Australians of all ages have made saving money their foremost financial priority in 2017, according to a new study.

Over the last few months of 2016, Mozo reported on a range of providers reducing term deposit rates by up to 0.85%, all despite the Reserve Bank keeping the cash rate on hold.

Australia's largest airline, Qantas, has started the year on a high after being named the world’s safest airline by peak safety and product rating website AirlineRatings.com.

It was the interest rate outcome our experts here at Mozo had been forecasting for months, but one that homeowners and investors hoped wouldn’t play out.

2016, with all its political pain and celebrity heartache, is outta here. Gone. Finito. So as 2017 graces us with the promise of a fresh start (please), many of us may still need something shiny to help us get over the year that was.

On 1 January 2017, many of the Solar Bonus Schemes that previously tempted Aussies to install solar panels changed, leading to dramatically lower feed-in tariffs for households across the country.

Forget New Year’s resolutions involving fitness fads and extreme money saving goals. Why not let the best jazz talent in New Orleans or a luxury Peruvian train enrich your life instead?

Australians are increasingly shunning big business for their entertainment and retail needs in favour of small and medium sized retailers which can offer personalised experiences.

They might not know it, but newborns across the nation are in for a savings surprise with Westpac announcing a $200 contribution to the savings account of any baby born in 2017 who has an account opened in their name.