News Archive for January 2018

Whether you’ve overspent at Christmas, racked up a big bill on a much needed holiday or just have a guilty habit of carrying a balance on your plastic, carrying debt around on your shoulders is never fun.

If you thought about treating yourself to a set of new wheels in 2017, you're not alone - so did a record number of Aussies, according to ABS data.

Frequent flyer points lovers rejoice, because American Express has almost doubled its bonus Qantas Points offer on the Qantas Ultimate Card as part of a suite of credit card changes unveiled today.

The Reserve Bank board is set to have its first meeting of 2018 next week and although there have been predictions of a rate rise this year, Mozo’s Peter Marshall has said a change in February is unlikely.

Victorian first home buyers, your home loan may have just gotten appreciably smaller thanks to a shared equity scheme known as HomesVic.

The ‘dream home’ is different for everyone. For some it includes a walk-in wardrobe, a kitchen island or a bathroom upgrade.

It turns out that rising energy prices and issues of reliability are not only causing friction in the nation’s parliament - they are also raising the ire of an increasing number of Australian households who are unsatisfied with their providers according to a survey of over 15,000 electricity customers.

The end of Opal cards might be coming sooner than Sydney commuters think - but it has nothing to do with the recent chaos of the trains system and everything to do with the increasing popularity of contactless credit card payments.

If you’ve tried the 52 week challenge, the 50/20/30 rule and saving every $5 note you come across, here’s the next savings strategy to take for a whirl: temptation bundling.

With a rumoured launch date sometime in February, the countdown to the much-awaited New Payments Platform (NPP) - which is set to transform the Australian banking landscape - could be just a matter of weeks away.

Finally heading off on that long-awaited holiday? After you’ve picked out a destination, your mind is probably whirring trying to make a list of all the things you need to throw in your suitcase - swimmers, plane pillow, toothbrush.

HIIT, reps, sets, leg day, rest day - these are all fitness terms Aussies will come to know once they start their New Year’s Resolution of hitting the gym.

Marketplace or peer to peer lending is being increasingly embraced by Aussie investors and borrowers alike, according to survey results released by ASIC last month.

Savers looking for a ray of sunshine to start the new year could be forgiven for shedding a tear, with the first few weeks of 2018 seeing the ongoing downward trend of many term deposit rates continue.

Good news, Australia! According to the Clean Energy Regulator (CER), the country will reach its 2020 renewable energy target.

As the Australia Day long weekend approaches, you might be wondering what to do with yourself on Friday. And the good news is that wherever you are, there’s plenty of fun on offer, from parades, to cockroach races, live music to fireworks.

Australian card holders are chipping away at their credit card debt at near historic levels, with  new figures showing that the country as a whole reduced its outstanding card balance by $260 million over the last year.

After years of carefully nurturing your side hustle, you’re ready to graduate into the freedom-filled level of self-employment - but what does that mean for your chances of landing a personal loan?

New year, new podcast review! With the Aussie dollar performing so valiantly right now, I thought you could join me on a trip across the Pacific to US shores as we find out out what all the fuss is about over Freakonomics Radio.

If your New Year's resolution was to get more bang for your buck in 2018, finding a generous credit card that will provide you with some serious rewards is a great place to start.

From outback adventures to beach-hopping holidays, a road trip is a great way to see some parts of Australia that you might otherwise miss. And what better time to explore the great downunder than the Australia Day long weekend?

For the first time, the Turnbull government will be conducting a review of the Greenhouse and Energy Minimum Standards Act (GEMS) for energy efficient appliances.

“Alexa, what’s the balance on my credit card?”

If thinking about your finances tends to stress you out, it’s never too late to ditch those bad habits which have been holding you back by starting 2018 with a clean slate.

Holidays are great - you can chill, you can catch up with friends and you can travel. But if travelling isn’t on the cards for this year's holiday, having to hear, “We’re off to Europe!” from your friends can be unbearable.

At approximately 6:30am, as Aussies across the country were preparing for the day ahead, the Aussie dollar hit 80.22 US cents for the first time in 4 months.

You may have enjoyed a quaint summer break relaxing by the beach, but some of Australia’s biggest banks were busy, cutting rates on savings accounts across December and January.

Bitcoin may have taken out first place when it came to comebacks of 2017, but jostling for a place on the podium - at least in Australia - was rooftop solar which recorded a strong resurgence in popularity according to new figures.

Depending on the person, buying a new car represents a milestone and some added responsibility. And according to recent numbers from the Australian Bureau of Statistics (ABS), many Aussies met that milestone in 2017.

Going green has never looked better, with a recent report from the International Renewable Energy Agency (IRENA) predicting that renewable energy is well on its way to being cheaper than most fossil fuels by 2020.

It turns out that Aussies are enjoying an open relationship of sorts with their banking providers, according to new data from Roy Morgan Research.

Soon after Australia Day, Aussies will have another reason to celebrate with the release of the new payment platform (NPP) expected in late January.

There’s no doubt about it, paying for a wedding isn’t cheap. While the figures on the average wedding cost vary wildly - from a staggering $90,000 to around the $30,000 mark - Australians often need to rely on a bit of extra financial help from a personal loan or their credit card to make it down the aisle.

Going green is starting to look more and more appealing, with renewable energy sources like solar and wind becoming increasingly competitive, as households electricity bills skyrocket.

For a lot of us, biting our nails, smoking a pack a day and eating one too many burgers are some of our worst habits.

There’s no doubt about it - finding ways to increase a savings account stash has been a difficult task for many Australians, thanks to stagnant wage growth and record low interest rates.

Aussie rewards credit cards may have been given a workout over the silly season, but the new year also affords plastic fanatics the opportunity to earn a sweet deal with some seriously sizeable bonus point offers currently available.

If your main resolution for this year was to finally save up enough cash for that overseas holiday, new set of wheels or kitchen renovation, then we have some news for you. By committing to just one of our list of financially savvy resolutions, you can save hundreds - stick to all of them, and you could have almost $30,000 in your bank account by next Christmas.

Mozo research has revealed that with Australia’s post-Christmas credit card bill expected to reach a total $33 billion this year, picking up a balance transfer credit card might help Aussies avoid some of the sting.

It’s no real secret that, between costly Christmas gifts and pricey New Years plans, Aussie credit cards work up quite the sweat over the holiday season.

Upon recent discovery by one curious Aussie, it turns out that Coles car insurance has silently been charging male drivers excess twice the size of females.

Autonomous vehicles could be part of mainstream Australian life far sooner than many may expect, with a new report urging for legislative action and changes to car insurance in order to accommodate for a ‘high level’ of automation on Australian roads in the next five years.

South Australia might be the renewable energy hub of Australia, but according to recent data from the Australian Energy Market Operator, Victoria are bridging the gap on their neighbours to the west.

It’s only January, but that doesn’t mean Aussies everywhere haven't already started scrolling wistfully through Instagram picking out their next holiday destination.

If there’s one stereotype that certainly rings true about millennials it’s their love for overseas travel - a cliche perhaps only topped by a love for documenting their international adventures on social media.

Nearly every Aussie loves two things: a cheeky reward and spending money, so it seems that a rewards credit card may be the perfect answer to these two great loves. Or is it?

The new year has arrived, and it’s time to make a promise to yourself: in 2018 you won’t pay fees when you don’t have to, and you will clear that cloud of credit card debt you’ve been stuck under.

With 2018 here and new year’s resolutions made around the country, many Aussies probably have plans to finally embark on a long-overdue home renovation project. But before getting started, would-be renovators should check their rainy day fund and consider applying for a personal loan to cover costs, said Mozo property expert, Steve Jovcevski.

For many Australians, their relationship with their finances could easily be personified by Bill Murray’s character in the film Groundhog Day - destined to repeat the same mistakes over and over again.

It was hot on the weekend, really hot. In fact, Sydney was the hottest place on earth on Sunday and despite months of energy speculation, the national grid pulled through to deliver power to the many Aussie air conditioners that churned away all day.

Choosing to transfer debt onto a balance transfer credit card is often a no-brainer for many Aussies because of the alluring 0% interest rate. But with this handy zero interest offer comes a lot of misconceptions about how it can be used effectively, leading many card holders to fall into dangerous balance transfer traps.

If there’s one thing for certain about Australians, it’s that they love to travel.

It’s usually at this point during January that we start taking down the Christmas tree and stuffing cardboard boxes with ornaments and decorations before sending them on a one-way ticket to the attic. But despite your efforts to make your home a Christmas-free zone, there’s still a reminder that hangs around - your credit card bill. But getting rid of that post Christmas debt is possible and it all starts with the help of a balance transfer credit card.

With the beginning of a new year comes the promise of a fresh start, especially for your finances. For most Australians their biggest current or future financial commitment will be a home loan, but how do you know that your mortgage is providing you with the best value?

For a lot of Aussies, the start of the new year is more than just the time to kickstart a goal or resolution - it could also mean the countdown to a marriage.

No two people have the same goals or plans for the year, but we can all agree that saving some coin doesn’t hurt. And with those different goals and plans comes different savings strategies. But regardless of what 2018 has in store for you, we’ve got 25 tips to help you save from cheap travel, to getting a handle on your home loan to rethinking that piece of plastic that’s burning a hole in your wallet.

Whether you spent a little too eagerly over the festive period, or you just know that the year ahead is likely to be an expensive one, now is the perfect time to be proactive about getting your finances in check.

Queensland households looking to slash their energy bills in 2018 can now take advantage of up to $300 worth of rebates thanks to the State Government's new Energy Efficient Rebate scheme, which launched on January 1.

Despite the fact that property prices have cooled slightly in the final months of 2017, taking out a home loan remains a financially daunting prospect for many Australians - particularly first home buyers.

It’s day three of 2018 and for many Aussies, the ‘new year, new me’ high it still going strong. We’re chomping down on salads, lacing up our trainers and dusting off our piggy banks.

Victorian households could find some welcome price relief on their next energy bills after a number of rebates announced by the State Government late last year kicked in on January 1.

One of the two biggest resolutions around are to lose weight and save money, so how does shedding some of the holiday kilos while saving around $30,000 sound?

New year, new you - new rewards card! We all like to score extra value when we hit the shops, and having a great rewards credit card in your wallet could be your ticket to a whole truckload of points and freebies in 2018.

Maybe you went a little overboard with the Christmas shopping, or maybe you’re guilty of carrying a credit card balance for longer than you’d like to admit - either way, your New Year’s Resolution for 2018 should be to clear that credit card debt ASAP.

Whether you’re trying to clear a balance, earn a stack of points or anything in between, we think one of the best ways to kick off the new year is by putting an exceptional piece of plastic in your wallet.

If one of your new year’s resolutions includes being more money savvy in 2018, with a Velocity points earning credit card, you could make your weekly grocery shop, your phone and Netflix bill, and your other day to day spending go towards your next holiday.