News archive for July 2019

July 2019

Monday Moneyvators: Level up to a better credit card deal

Monday Moneyvators: Level up to a better credit card deal

From rewards cards to black cards to everyday spending cards, when it comes to credit cards, the options are endless. Which means it’s super important to find the right one for you that will get you the best value from your spending.

Bus it to work? You can now use your credit card to tap on and off

Bus it to work? You can now use your credit card to tap on and off

From next month, commuters across NSW will be able to tap on and off using their credit card and debit card on Sydney buses, which according to NSW Transport Minister, Andrew Constanceto is completing the “final piece in the contactless payments puzzle.”

Australia's Best Life Insurer for 2019 Revealed

Australia's Best Life Insurer for 2019 Revealed

Life’s too precious to take shortcuts when it comes to life insurance, so taking the time to find the right policy is an absolute must. Finding the right policy for you and your family can be daunting, which is why we’re pleased to announce the 2019 Mozo Experts Choice Awards for Life Insurance.

Borrowers abandon Big 4 for challenger banks

Borrowers abandon Big 4 for challenger banks

Home borrowers are walking away from the big 4 banks in favour of challenger and customer owned banks, according to the latest statistics from the banking regulator.

With property prices expected to ‘bottom out’, is now your time to buy?

With property prices expected to ‘bottom out’, is now your time to buy?

If you’ve been keeping up with the latest property news, you’ll know that the property market has seen better days. But with prices expected to ‘bottom out’ in the coming months, many potential buyers across the country could be tossing up about whether now is the right time to make their move.

Credit card debt ruining Aussie retirements: how to avoid the same fate

Credit card debt ruining Aussie retirements: how to avoid the same fate

With no job to tie you down, retirement promises more opportunities to wind down and relax, whether it’s learning new hobbies or finally taking that dream holiday overseas. But for a growing number of senior Aussies, that may no longer be possible with their credit card trapping them in debt they can’t pay off.

Red hot business loans to launch your big idea

Red hot business loans to launch your big idea

A lower company tax rate and an increase in the instant asset write-off - the new financial year has brought with it some seriously good news for Australian businesses big and small.

Home loan debt is biggest contributor to Aussie spending cuts, RBA research finds

Home loan debt is biggest contributor to Aussie spending cuts, RBA research finds

Record-high mortgage debts are stopping Aussies from spending their money, new research has revealed. A Reserve Bank analysis has found home loans are the biggest culprit behind why we’re pulling back on our expenditure, despite the government’s efforts this month to kickstart our slowing economy with a $158 billion tax cut package.

What’s your new financial year’s resolution?

What’s your new financial year’s resolution?

With July well and truly upon us, now’s the chance to take a step back and look at your finances and focus on some new financial year’s resolutions. Whether that goal be starting a new savings plan, paying-off existing debt or taking the big step of buying your first home, now is a great time to take the plunge.

Monday Moneyvators: What to claim for a bumper tax return

Monday Moneyvators: What to claim for a bumper tax return

Organising your tax return is probably the last thing you want to do on a Monday, especially when you’re suffering from the post-weekend blues. But, as we all know, our motivation usually starts to dwindle as the week unfolds, which means Monday’s are when we’re at our productivity peak.

This week in banking - Savings rates take a hit

This week in banking - Savings rates take a hit

In this week’s banking recap, we review what’s been happening on the home loan and savings front since the RBA cut official interest rates, plus take a look at some helpful tax and energy tips.

ING savers hit with another rate cut

ING savers hit with another rate cut

Today, popular digital bank, ING slashed interest rates by 0.25% across most of its savings accounts products following the RBA decision last week.

How to crush your mortgage this financial year

How to crush your mortgage this financial year

With a new financial year upon us and interest rates sitting at new record lows, now is the perfect time to resolve to crush your home loan. Borrowers around Australia are celebrating back to back RBA cuts, but did you know that you can use the record low rates environment to your advantage to pay down your mortgage even faster?

Aussie borrowers celebrate as rates plunge lower

Aussie borrowers celebrate as rates plunge lower

Aussie borrowers are revelling in a rates bonanza, as home loan interest rates continue to plunge to unheard of new levels. Lenders are now offering jaw dropping deals in the 2 per cent and low 3 per cent range, enabling borrowers to pay down their debt faster than ever before and build up record buffers.

Heading overseas? Here’s one thing you don’t want to leave without

Heading overseas? Here’s one thing you don’t want to leave without

If you’ve got a holiday in the works, the last thing you want is to be told your trip has been cancelled, or worse yet, you run into a medical emergency once you’ve reached your destination. Aside from being downright heartbreaking, these situations could also put a not so nice looking hole in your travel budget.

Does your home insurance cover erratic Aussie weather?

Does your home insurance cover erratic Aussie weather?

When it comes to natural disasters, no matter how prepared you feel, the damage is inevitable. And with a new report by the Sigma revealing Aussie’s are ‘heavily exposed’ to secondary natural perils, such as bush fires and flash floods, it’s crucial to find out whether your home insurance policy will cover natural disasters.

Which banks have cut home loan interest rates so far?

Which banks have cut home loan interest rates so far?

On Tuesday, the Reserve Bank decided to decrease the cash rate once more, bringing it down to a record low 1.00%. Since then, attention has turned to banks and lenders to see how much of the cut will flow through to home loan customers.

ING and ME Bank latest home loan lenders to make cuts

ING and ME Bank latest home loan lenders to make cuts

This afternoon, we learned that ING will be reducing rates for its variable home loan products by 0.20%. And while that’s five basis points shy of the full 0.25% cut, it still sees several ING home loans among the more competitive in the market.

Ditch the big banks and check out these stellar offers instead

Ditch the big banks and check out these stellar offers instead

Following the RBA’s decision to cut official interest rates - the second month in a row they’ve done so - all eyes were on the big banks. But if you were holding out hope that they would pass on the cut in full, we’ve got bad news.

Hot home loans under 3%

Hot home loans under 3%

With the RBA cutting the cash rate to a historical low of 1.00%, there’s never been a better time to get picky about your home loan, especially with some lenders slashing rates to below 3.00%!

ANZ: First big bank to drop home loan rates following today’s RBA cash rate cut

ANZ: First big bank to drop home loan rates following today’s RBA cash rate cut

ANZ dropped its variable home loan rates by 0.25% p.a. following today’s RBA cash rate cut, making it the first big bank to pass on the full cut. Considering the backlash ANZ copped from the RBA after not passing on last month’s cash rate cut to customers, it was really only a matter of time before it did.

Home loan rates go bok bok berserk

Home loan rates go bok bok berserk

Home loan rates are hitting jaw dropping new lows as Australia's challenger lenders waste no time in passing through the Reserve Bank's second rate cut in as many months.

Homestar and Athena move fast, cut rates by 0.25%

Homestar and Athena move fast, cut rates by 0.25%

Only a few short minutes after the RBA announced it will be reducing official interest rates by 0.25%, online lenders Homestar andAthena Home Loans have jumped on the opportunity to pass on the full cut to their customers.

July 2019 Financial Checklist

July 2019 Financial Checklist

HAPPY NEW YEAR! …Well, happy financial new year, that is. Wow, is it July, already? Firstly, welcome to any new readers here today, and welcome back to all of our financial checklist regulars! Now, get ready, because, from dry July to travel money to award-winning energy providers, our July 2019 financial checklist is filled to the brim with tonnes of tips and tricks to get you through the month!

3 new financial year tasks small business owners shouldn’t skip

3 new financial year tasks small business owners shouldn’t skip

While it can be tempting for business owners to sweep certain tasks under the rug over the financial year, like bookkeeping or organising tax receipts, scrambling to get everything sorted when June hits isn’t fun - it’s usually just extra stress!

Red alert for savers as rates plummet

Red alert for savers as rates plummet

Experts are urging Aussie savers to rescue their rainy day funds by switching to a top paying account, as rates on some of the nation's most popular accounts race towards 0%. Alarm bells are ringing after the average savings rate dropped by 22 basis points in June, and is now sitting at a dismally low 1.39%.

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