News Archive for April 2019

Living and studying expenses can be heavy on many students’ pockets, so what would happen if they got the chance to receive $15,000 a year for attending a regional uni?

The latest Westpac Home Ownership Report, which surveyed 1,000 ‘Next Home Buyers’ or NHBs, has revealed that there is a significant education gap amongst Australia’s homeowners on key financial concepts and that most lack the needed confidence in buying property at an auction.

Prime Minister Scott Morrison’s $1 billion Business Growth Fund was supposed to be a boon to Australian small businesses. But it appears some of the major banks and superannuation funds are less than eager to throw their support behind the initiative.

Today, ING announced it will be cutting fixed rates across a number of its home loan offerings, making it the latest in a long list of lenders to implement changes in recent months.

Be warned travellers heading overseas these holidays, as it’s important to get your head around what it means when a travel warning is issued and how it could ultimately affect your travel insurance.

We know you’re looking forward to the Easter long weekend, but before you dash off to the holiday destination of your choice (or settle in for a quiet stay at home), be sure to read up on the latest news in the banking world in this week’s recap.

A new report from the Economic Regulation Authority has revealed that Western Australia has a higher rate of electricity disconnections than New South Wales, South Australia or Victoria, with the rate of residential disconnections doubling over the last two years.

With eBay data predicting that Aussies will spend a tremendous $140-million online on beauty products in 2019, and an unbelievable $11-million in just April alone, it’s official. Aussies are total online-shopaholics!

Business challenger bank Judo Bank is set to jump aboard the digital banking train expecting to officially be granted its banking licence this week, as revealed by Judo Capital co-CEO Joseph Healy at the AltFi Australia Summit 2019 in Sydney yesterday (15 April).

In a move that puts it one step closer to offering home loans to Aussie buyers, burgeoning digital bank 86 400 has today announced a new partnership with mortgage and finance aggregator Vow Financial.

Rate drop alert! Last week CUA dropped the starting rate on its Unsecured Fixed Personal Loan from an 11.99% p.a. fixed rate to a much lower 9.89% p.a. fixed rate (10.14% p.a. comparison rate^^) with a maximum loan amount of $50,000.

It’s official - American Express have today cut their points earn rate across a number of its rewards credit cards.

Every Friday, we round up the latest news and changes from the banking world and put them in one handy spot. Read on for what’s been going on in Aussie home loans, travel insurance and more in the past week.

If you’re one of the many Aussies still getting hit with up to $10 in unnecessary bank fees, then it’s no surprise you’re fighting a losing battle when it comes to keeping your bank account balance looking healthy. Mozo’s here to show you how you could become the Jackie Chan-esque fee-fighter of the century, avoiding budget-battling add-ons at all costs.

After conducting a recent analysis on business loans, our Mozo experts found that the average Big 4 Bank business loan rate was 88 basis points higher than the average rate of challenger banks. Mozo data also revealed that this difference in interest rates means staying with a Big 4 bank could cost you an extra $6,007 in interest on a $250,000 business loan over 5 years*.

CommBank, Westpac and NAB are cutting their fixed home loan rates in a bid to stem the rising tide of borrowers switching to rival lenders. However, borrowers are being warned not to jump headfirst into fixing, as the big banks are still a long way from being the most competitive in the market.

When you hear the word ‘subscription’, words like Netflix, Stan or Spotify may jump to mind. But now, Aussies in Victoria can add their energy plan to that list.

Easter is just around the corner and clued up Aussies are cashing in their annual leave and heading overseas.

The buy now, pay later (BNPL) market is experiencing a bit of a boom. Aussies have come to appreciate the convenience and affordability of post-pay services, and merchants have waxed fanatical about speedy turnovers. Touted as an interest free alternative to a credit card, they're whipping Aussies into a spending frenzy.

Read Chapter Two Here.

A lot can change in a decade, political leaders come and go, technology continues to advance and self-driving cars are now actually a thing. And your finances are no different - between the ages of 20 to 30 your relationship with money can undergo a quite the transformation.

Mozo Experts Choice Online Home Lender of the Year 2019, Tic:Toc, has just spun a great new offer into the web of its great value home loan products.

Most business owners will tell you that stress and uncertainty are just a part of the job. But thanks to big bank, NAB, making an international money transfer just became a little more stress-free.

The Commonwealth Bank has become the latest lender to jump on the rate cut bandwagon by announcing a number of cuts to it fixed home loan rates this morning which will come into effect immediately.

If you’re about to add another purchase to your Afterpay balance, you might want to think again. Mozo has warned Aussies against racking up massive Afterpay debt, as it could see your home loan application rejected.

When it comes to a lump sum of savings, self-managed super or even inheritance, it’s typically more fun to dream of ways to spend the money rather than working out whether a term deposit and savings account is the right place to stash it.

As we head into 2024, it’s a good time to check in with the personal loan options available and make sure you’ve got the best option for your major expenses like home renovations, travel, and purchasing a car.

It's Friday afternoon, which means it's time for a rundown of all that went on in Australian banking in the past week.

Mozo Experts Choice Award-winning online lender Loans.com.au has just launched a jaw-dropping special offer on its Loans.com.au Fixed Home Loan, the lowest rate for a 3-year fixed term home loan in our entire Mozo database!

The Sydney Royal Easter Show is a famous annual event that many Aussie families know and love - from the wild rides to entertaining side shows - but many also know a day at the show can come with a serious price tag that can leave your pockets feeling very empty once you leave.

Upgrading to a new home can be a costly task but today’s savvy homebuyers have found some clever ways to save money without having to stinge out on socialising.

We’ve gotten pretty well acquainted with Josh Frydenberg this past week. The treasurer has spent a lot of time on our screens ahead of the release of the 2019 Federal Budget, touting tax cuts and big plans for infrastructure. Last night, he finally unveiled the government’s monetary plan for the coming years, and there’s plenty to unpack.

Brace yourself! April's officially here, and with Easter, ANZAC Day and the school holidays all just around the corner, you're in for a jam-packed month ahead. Whether you’re going away or staying home this Easter, we’ve got all the juiciest money tips to get you through the month. So, sit back and relax because your fave monthly subscription has just entered the building! Here’s your monthly Financial Checklist: April 2019 Edition.

The Reserve Bank Board has once again held the official cash rate at a record low 1.50% following it’s monthly meeting in Sydney this afternoon.

While the nation winds down from this year’s round of April Fool’s shenanigans, the Australian Energy Regulator (AER) are taking a more serious approach.

Dysfunctional, confusing and excessive: three words the Australian Competition and Consumer Commission (ACCC) have used to describe the energy market.