News Archive for July 2018

If you're sick of the same old credit card offering, then we've got good news for you.

From the rising cost of energy bills to increased home loan repayments, many Australian families are experiencing greater amounts of strain on their households budgets - a strain which looks to be having a flow on effect to other areas.

Over the month of July, we’ve seen a domino effect of home loan lenders hiking variable rates to cope with mounting funding pressure.

Australian banks are reducing their ATM networks after the big four banks terminated ATM fees last September.

We’ve all heard how open banking is set to revolutionise traditional banking, and thanks to a new online budgeting app called Money Simple, it just got a whole lot easier for regular Aussies to take the power of budgeting back into their own hands.

Thanks to increased competition among energy retailers in Queensland, Aussies have saved up to $100 million in the past year on their power bills.

Every Aussie has their favourite travel destination, whether it be London, Rome or New York and according to recent Roy Morgan data, we’re a nation that’s travelling more than ever!

“Is tap okay?”

Australian savers are feeling the heat as two of the Big Four banks ring in the new financial year by lowering their base rates on standard savings accounts.

Hikes, hikes, hikes. Many Aussie homeowners will have heard little else since the start of winter, but online lender UBank has well and truly broken ranks with many other lenders following today’s announcement of a cut to its UHomeLoan offer.

In an Australian first, AMEX is redefining prestige with new enhancements announced today to their Platinum charge card.

If you’ve been thinking of putting some money into a term deposit now might be the time, as Teachers Mutual Bank Limited and Gateway Bank have announced increases to their standard term deposit interest rates.

Australians aren’t picking the right travel money card and could be paying over $1000 in bank fees, Mozo research has found.

Millennials often get a hard time for their money management, especially for their love of expensive brunches and extensive overseas travel, but it turns out that young Australians may be savvier than most when it comes to avoiding bank fees and debt.

AMP has today hiked home loan interest rates for both owner-occupiers and investors, joining a rising trend of lenders lifting borrowing rates in response to funding pressures.

Australian parents are adding a full work day to their week driving their kids around, recent research from Allianz Australia has found.

While many Aussies may already have begun changing their spending habits to keep up with their rising home loan repayments, experts are now predicting that this could be just the tip of the iceberg for homeowners.

While many Aussies are breathing a sigh of relief following the July 1 energy price updates, new findings from today’s ACCC report could save households hundreds on their future electricity bills.

It’s easy to get caught up in the excitement of travelling, but when setting aside money for your next trip it’s important to know how to spend your hard-earned cash without waste. Whether you’re still in the research phase or on the way to the airport, Mozo has collected these travel money hacks to help you save you from extra costs on your big trip.

It’s the start of a new financial year, which means that more than 12 million Australian taxpayers will be busy rustling up receipts and refreshing their inboxes waiting for their PAYG payment summaries to come in.

Everyone with a term deposit knows that once you deposit your cash, it’s hands-off until the term period ends.

Winter is well and truly upon us, which means the ugg boots are on, the heating is cranked up and the July energy price changes have arrived.

A recent report by ASIC has revealed that one in six Aussies have fallen into a ‘debt trap’ because of their credit cards.

It’s not uncommon for the average Aussie household to feel financial strain, but according to new research by Digital Finance Analytics, ‘mortgage stress’ is at a record high.

Just when Australians thought they might be in for a bit of relief on their energy bills following the announcement of less severe July 1 price changes, a new report into the Australian energy market has warned that the current high prices are the ‘new normal’.

An ASIC report which reviewed 21.4 million credit card accounts has revealed that 1 in 6 Aussies may fall into a “debt trap” when using their plastic.

While getting nice and toasty next to the fire in winter is a great way to warm up, poor fireplace maintenance is one reason for the 22% increase in Tasmanian winter fire claims since 2016, according to RACT Insurance.

As Benjamin Franklin once wrote, "...in this world nothing can be said to be certain, except death and taxes,” but the old idiom could well be in need of updating, with the RBA board yet again showing their consistency by maintaining interest rates at a record low 1.50%.

The new financial year is here, and it's a great time to resolve to save money on your home loan as it's brought with it a frenzy of  discounted home loan specials offering rate discounts, fee waivers, cash back and other rewards.

Term deposit rates for terms of 1 - 3 years are at the highest they've been since 2017, upholding the continuous trend of rate increases.

As we welcome in the new financial year (and Sydneysiders curse the Opal fare rise), many Aussies may be thinking about how they can start the new year with a money-saving bang.

The Reserve Bank is expected to keep the cash rate on hold again today, but mortgage lenders are bumping up rates for Aussie borrowers anyway and the big banks are expected to follow.

There’s no easy way to say this, but if you thought you were in for an easy July, you’ve got another thing coming. From energy bills, to your home and savings, we’re in for a busy month. And I’d tell you that by the end of this list, you’ll want to put your feet up and have a glass of wine...but you can’t do that either. Happy July, everyone!