News Archive for August 2018

Mozo research has revealed that Aussies should be asking for at least a $1,000 pay rise this year, simply to keep up with the rising cost of living.

The moment Aussie home owners have been dreading has arrived: big bank Westpac has promised to hike rates on all variable home loan products come September 19.

With Christmas less than 4 months away, many Aussies may have already begun thinking about their summer getaway.

With spring right around the corner, many Aussie buyers will soon start gearing up for the biggest property season of the year.

Whether you’re travelling often for work or play, having travel insurance to cover you in case of an accident or unfortunate mishap should be at the top of your to-do list. Not having the right cover could leave you out of pocket and put a damper on your plans to spend your year hopping from summer to summer.

Even those who love their jobs need a break from the monotony of the nine to five. That’s probably why 56% of Aussies plan their holidays during work hours, according to research from KAYAK.com.au.

True rewards lovers know there’s nothing more tempting than a massive bonus points offer - and Citi is currently offering an epic 400,000 bonus points!

According to Gumtree’s Second Hand Economy Report, we’re a nation of second-hand lovers, as 90% of Aussies have bought something second hand at one stage in their life.

For many, managing money can either feel like a breeze or a nightmare. But thanks to a new strategy launched by the Minister for Revenue and Financial Services, The Hon. Kelly O’Dwyer MP, controlling what goes on in your bank account is about to get a whole lot easier.

In news that will delight credit card points lovers, Citi have made a number of changes to their suite of credit cards, including the introduction of a number of substantial bonus points offers which could earn cardholders up to 400,000 Citi Points.

A Mozo survey of over 1,000 parents has revealed that more than half of Aussie parents have set up savings accounts to start building up a nest egg for their kids.

Does it seem like your power bills are hitting your hip pocket harder than before? It’s not just your imagination.

Dreaming of clear blue skies and ocean for days? For many Australians, cruises are an affordable getaway offering round-the-clock entertainment and the added benefit of visiting multiple destinations in one trip. Unfortunately, it’s not always smooth sailing and complications on board could see you forking up cash you’d rather be spending on piña coladas.

Don’t let hay fever get you down, spring property season is on the way, and if you’re looking to get on the property ladder, there are some great new home loan deals available.

As the Liberal party fights over the top spot in a stoush that led to a leadership spill earlier today, Prime Minister Malcolm Turnbull has put the NEG on the backburner and is now suggesting alternative ways to drive down energy prices for Aussie families.

In between updating their Snapchat or Instagram, it’s no secret that Aussie teens also love to spend time using their debit cards for their next transaction.

With Aussies leading the world in contactless payments, it comes as a surprise that cash, the so called out-of-fashion way to pay, may be making something of a steady comeback.

There’s nothing quite like the feeling of wind in whipping past your face as you glide down a snow-covered slope- that is until you hit a bit of slippery ice and end up with a broken bone and a sizeable hospital bill. Whether New Zealand’s lush ski fields have caught your eye or you’re more a fan of the snowy mountains of Tokyo, you’re going to need something to fall back on if things go astray.

For most Aussies, credit cards are an essential bit of plastic helping us navigate life’s many financial trials and tribulations. With over 13 million credit and charge accounts in Australia according to the RBA, it’s important you understand how your credit account works and what you need to do when your credit card expires.

Ditching and switching - it’s all the rage.

New data from peer-to-peer lender, RateSetter has found that 47.8% of credit card holders agreed it’s too difficult to make more than the monthly minimum repayment on their balance.

Many Aussies understand the importance of booking travel insurance before their next holiday away. But according to a recent Mozo analysis, travellers could be paying more than double the price for travel insurance policies offering the same level of cover.

With more than half of Australia’s population online, and social commerce on the rise, cybersecurity attacks are a more pressing issue than ever. Aussies are feeling the stress of protecting their important information more than ever.

With great power comes great responsibility - and with a great car comes even greater expenses. Contrary to popular belief, filling up petrol isn’t the biggest weekly expense for car owners, and neither is the cost of a car loan - for drivers on a good deal.

It’s safe to say many Aussies are continuing to shiver through what feels like the coldest winter yet.

From seniors to teens, it seems nearly every Aussie traveller has caught the cruise bug.

Putting this year's tax return in your savings account seems like a no-brainer right? Well, with the average savings account offering up a return of just 1.79% p.a., Mozo research has shown there are some much better options for money savvy Aussies.

Whether you’re just starting out with your first credit card, or you’ve been managing a mortgage for the past ten years, brushing up on good money habits is never a bad idea. To get you on the right track, here are 5 money savvy habits that frugal people live by, which you can add to your routine.

Sick of paying interest on a lingering credit card debt? You’re not alone.

Travelling is expensive. After paying for accomodation and flights, shelling out more money is probably the last thing you want to do. But as the saying goes, if you can’t afford travel insurance, you can’t afford to travel. That’s where Mozo’s Experts Choice Travel Insurance Awards come in. The recent awards have found you the best value policies on the market so you can spend more on the fun parts of travel.

Travelling isn’t always sunshine and rainbows. Luggage goes missing, accidents happen and before you know it you could be spending your hard-earned annual leave in a hospital bed. Not having the appropriate cover for travel blunders could turn a stressful situation into a full-blown catastrophe.

The Mozo’s 2018 Experts Choice Travel Insurance Awards winners are in, with World2Cover Travel Insurance coming out on top by taking out wins across all awards categories.

With today’s decision to leave the official cash rate on hold at 1.50% for a 24th consecutive month, the RBA’s affair with steady interest rates has well and truly eclipsed that (at least in terms of length) of most budding relationships.

You might be easily forgiven for dipping into your savings stash every now and again, but according ME Bank’s most recent Household Financial Comfort Report (HFCR), many Aussies have become dependant on routinely plundering their savings balance.

We all knew renewable energy was popular, but according to a recent poll by Reachtel, it’s a lot more popular than we thought.

As lenders slash fixed rates left, right and centre, borrowers are racing to lock in a great home loan deal while they last.

With many Australians swapping their heaters for blankets this winter, it’s a welcome relief to hear that Aussie households are set to save an extra $150 more than expected on energy bills each year, according to the NEG (National Energy Guarantee).

For many Australians, a savings account is the most accessible and flexible outlet for the money they’re looking to save. But as prospective savers know all too well, the value offered by savings accounts isn’t what it was a few years ago.

You would be hard pressed to have missed the overwhelming narrative of ongoing rate hikes from a swathe of home loan lenders over the last two months, so today’s announcement from ANZ has certainly caught many by surprise.

For some parents, talking about trusting a teenager with money is often met with shaking heads and wide eyes.

Happy anniversary checklist community! It’s officially a been a year since we started doing our monthly financial to-dos - time flies! Hopefully, you’ve found new and exciting ways to budget and save some cash over the year. But let’s not hold off any longer, so grab your pen and pad because we’ve got 6 new things to take care of this month.