News Archive for June 2018

It’s hard to believe that the sixth RBA board meeting of the year is almost here, but while all eyes will be on Governor Philip Lowe’s statement at 2:30pm on Tuesday, another likely rate hold will mean that attention soon shifts back to where the real rate movement lies - in the home loan market.

Whether it’s using some time off over the winter holidays to renovate your home before spring selling season, or getting organised for a summer vacation by buying flights to Europe, ING has a new funding solution to help you make things happen.

After a balmy autumn, winter has well and truly come in with a bang, leaving some Australians frantically grasping for the dial on their heaters.

With the upcoming July holidays, are you panicking about how to keep the kids entertained without breaking your bank? Don’t worry! We’ve done some digging for you and found a few cheap, some even free, family friendly activities that will ensure boredom is the last thing on your kids’ minds this winter holiday.

Property ownership can often seem like an uphill battle for many Aussies, but recent figures by Westpac show that the market doesn’t seem to be slowing prospective first home buyers down.

Renewable energy is predicted to supply 30% of the market’s electricity needs by 2020 and 40% by 2030, according to new research by Green Energy Markets (GEM).

If there’s one thing all Aussie parents aim to do, it’s tell their kids to dream big. But according to recent Mozo research, the big banks don’t feel the same way when it comes to their savings accounts.

How many working days do you think you'd need to get through each year to cover your basic expenses?

Home loan borrowers may need to find extra room in their budgets very soon, with lenders hiking interest rates in response to increased funding pressure.

Whether it’s time for an upgrade or you’re craving a new set of wheels, the end of financial year (EOFY) may be the perfect time pick up a new car.

As the saying goes, nothing is certain in life but death and taxes. So with EOFY just days away and tax return season looming ahead, many Aussie taxpayers will be wondering if there’s anything they can do before the financial year ends to make their 2018 tax return more rewarding (and less painful).

Based on the latest RBA banking fees report, which showed banks are making $4.5 billion in fees each year - a 3.7% increase from 2016 - Mozo has revealed that Aussie households are paying nearly $500 a year in bank fees.

ING have introduced a new savings feature, allowing Aussies to link their automatic savings to everyday occurences, like hitting their daily step count, loading the dishwasher or even changes in the weather.

Any Aussie who currently owns a property can remember the feeling of walking through the front door of their brand new home for the first time. But a moment many will want to try to forget is the bundle they had to cough up in stamp duty.

The end of the financial year is fast approaching and lots of Aussies are ready to bag a bargain at the EOFY sales, whether it’s an upgraded laptop, a new set of wheels or that new dishwasher you’ve been coveting for months.

Fancy a holiday with your home loan? Well that’s the latest perk Westpac is offering, thanks to a new partnership between the big bank and Velocity Frequent Flyer.

Uh oh, Australia - we’ve had another big facepalm moment and this time it’s to do with a potentially very costly concept; compulsory third party (CTP) car insurance.

Drum roll please… the results are in for the Mozo Experts Choice Australia’s Best Awards, revealing the top value banking picks for Aussies in 2018.

Marble countertops and rose gold faucets may be all the rage, but when it comes to the most popular home improvements, new figures from personal loan lender RateSetter show that Australians are actually most eager to make energy efficient upgrades to their homes.

According to new research by Credit Simple, once a personal loan bill is in default, it takes an average 326 days to pay off the outstanding balance.

They say that education is key, but according to a survey of more than 1,000 Aussies living in Melbourne and Sydney, we're not getting enough of it when it comes to our energy bills.

One of the hottest destinations around this time of year - as Australians look to escape the increasingly chilly winter weather - are the sun-soaked shores of Europe.

AMEX lovers have suffered another blow today after CommBank became the final big bank to axe its AMEX companion credit cards.

The countdown to June 30 is officially on, but while you may be eyeing off an EOFY bargain on a new TV or set of wheels, it’s also a great time to bag a limited time offer on a range of financial products.

Having “the talk” might be awkward, you may feel uncomfortable and in the end, tears could indeed be shed. But Mozo’s recent research has indicated that they’re more likely to be tears of joy not sadness, with seven in 10 Australian home loan hagglers successfully negotiating a cheaper interest rate on their home loan.

For most students, social media plays a big part in their uni existence, whether it’s planning events, tracking what their high school friends are up to, or according UniBank’s new report, influencing their spending habits.

The weather may have well and truly started to turn with the onset of winter, but unlike the changing seasons, the RBA board has remained consistent as ever when it comes to the official cash rate following today’s meeting in Sydney.

While some Aussies are rugging up to prepare for the winter chill, others are choosing to escape with a mid-year holiday to Europe.

On the official list of things Aussies love to do most, travelling ranks right up there with ditching Prime Ministers and talking up the quality of our coffee.

Australian globetrotters and international investors have a new option for wheeling and dealing in foreign currency, after Citi today launched the Global Currency Account, which allows customers to use up to ten global currencies through a single bank account with linked debit card.

The end of the financial year is fast approaching and lots of Aussies are ready to bag a bargain at the EOFY sales, whether it’s an upgraded laptop, a new set of wheels or that new dishwasher you’ve been coveting for months.

Aussie grandparents are helping to ease the strain on family budgets by providing hours of ‘Greycare’ - unpaid childcare - every month, adding up to a combined saving of $328 million for parents, new Mozo research has found.

May wasn’t just any ordinary month when it came to covering finance news over here at Mozo.

Welcome back, everyone! It’s been a while since we last caught up. Since March, we celebrated Easter, fell for some April fools tricks and gave our mother’s a reason to smile - but we also hope you’ve been staying on top of your finances. But don’t worry if you’ve been too preoccupied with the Royal Wedding to worry about your bank balance because we’ve got 5 fresh, financial to-dos you can add to your checklist!