News Archive for January 2020

They say getting married, divorced and moving house are the top three most stressful life events a person can experience.

Heard of FOMO - the Fear Of Missing Out?

Seeking relief from ever-growing debt? If you’ve been thinking of moving to a balance transfer credit card to clear your debts faster, big bank NAB will soon have a handy feature for you.

‘Buy now, pay later’ (BNPL) fintechs, like Afterpay and Zip Money are expected to sign a code of conduct to protect customers who use BNPL services.

If you didn’t already know, the Federal Government’s First Home Loan Deposit Scheme has been in operation - partially - for almost a month, but it’s about to be in full swing.

According to a recent report by RiskWise Property Research, the ongoing bushfire crisis could have major short term impacts on property prices across Australia.

From sailing the high seas with the family to taking a solo trip around Europe, no Aussie travels the same. But if there’s one common interest most travellers share, it’s taking out travel insurance before kick starting their holiday.

Love the sound of double glazed windows and solar panels on your roof? Whether you’re dreaming of a sustainable first home, or you’re itching to give your existing house a green facelift, there’s good news for you.

Research from Mozo has found that Aussie parents could be spending a shocking $3 billion each year on prepackaged lunchbox snacks.

Although the Christmas tree may be long gone, packed away in the loft with the tinsel and baubles gathering dust, there’s one thing from the festive season that you might still be feeling the effects of: credit card debt. In fact, according to a recent report by Mozo, Australians currently have a whopping $27.2 billion of credit card debt racked up, accruing interest.

The Reserve Bank’s February meeting is just around the corner, and while it seemed like a pretty fine-balanced decision for a few days, the chances we’ll see the cash rate cut to 0.50% have dropped significantly.

New year, new decade… but for many Aussies, it looks like old debts on their personal loans and credit cards are here to stay.

Just months after shaving 25 basis points off the introductory bonus offer rate, ANZ has again made cuts to its ANZ Online Saver account. This time round slicing 5 basis points off the base interest rate to lower the maximum interest to be earned with this savings account from 1.60% to 1.55%.

2020 may be the year of the rat, but it seems Aussies with this zodiac aren’t the only lucky ones.

Life insurance isn’t the most glamorous of topics, but it’s pretty unwise to ignore it. After all, can you be sure your family won’t be overwhelmed by a wave of financial obligations if something were to happen to you?

Digitalisation is a phenomenon that has permeated throughout most parts of modern life, incorporating everything from the transition from video rental to streaming services and the move from paper tickets to virtual transport cards. While not particularly new, the same has taken place in the banking sphere with the digitisation of processes and platforms like online and app-based banking for Australian consumers.

While things typically tend to slow down toward the end of the month for many, it looks like mortgage lenders big and small have kept busy by releasing their latest deals and rate cut specials for investors and first home buyers.

All in this week's banking recap.

It looks like Aussies are more eager than ever to buy a home, according to new data from the Commonwealth Bank.

If you don’t have time to pop overseas and get some Insta-worthy travel content before school goes back for the year, then you might take the Australia Day long weekend as an opportunity to pimp your profile out with some aesthetically-pleasing road trip pics instead!

In 2019 the country welcomed 11 new energy retailers to the market, giving Australians more choice than ever before.

Launched just last week, Aussie neobank Xinja has reported that it’s new savings account Xinja Stash has not only left the nest, but is already flying high with positive customer feedback and $30 million worth of inflows.

Australian small businesses impacted by the nations bushfire crisis will have access to a number of financial relief measures following an announcement from the Federal Government on Monday.

We’ve all got friends who love to post the “I’m out” pic on instagram, glass of champagne in hand, with a geotag at the airport lounge.

Heard of Judo Bank? Well, if you have or if you haven’t, it’s a name that you’ll be hearing more and more about.

Whether you’re thinking of adding another investment property  to your portfolio or are looking to snatch up your first home this year, the latest decision from MOVE Bank may be welcome news for you.

It’s no secret studying abroad sits on many of our bucket lists. But from tuition to accommodation, the whole experience doesn’t come cheap, and you could end up digging a lot deeper into your wallet than what you bargained (or budgeted) for.

So you need a bit of extra cash but you’re feeling a little disgruntled with banks in general. Maybe you’ve fallen out of love with the big four or you’re keen to find a bank that aligns more with your own values.

Down down, prices are, wait... up?

If you haven’t already heard, it’s 2020, the beginning of a new decade, the future is here and all that jazz. But what does that actually mean? Surely technology won’t suddenly change just because we’ve dipped into a new decade?

There may be no 2020 RBA cut just yet, but one Aussie online lender isn’t wasting any time. Well Home Loans has swept its competitors aside with two surprise rate slashes that now make its fixed and variable home loans some of the best in the market.

They say every cloud has a silver lining, and if 2020 is the year you’re looking to pick up a new car, you may find that the odds are in your favour.

All in this week’s banking recap.

In a surprise move announced yesterday and implemented today, NAB has reduced interest rates on two popular savings accounts by up to 0.15%

For many Aussies, the turn of a new year - or new decade for that matter, brings fresh opportunities to travel, but things are starting to look little different and so are travel insurance policies.

Today, the Commonwealth Bank has released a brand new rewards credit card to join its Awards program, the Ultimate Awards credit card.

Earlier this week, Westpac announced it will be granting additional support to customers who have been impacted by the bushfires currently spreading across New South Wales and Victoria.

It’s not every day that a brand new bank opens its doors in Australia, let alone an entirely independent bank built from scratch.

When it comes to picking a destination for your next big holiday, word of mouth is everything. Some people turn to their Gran, while others turn to the ‘Gram.

Bank Australia, the self-proclaimed ‘bank Australia needs’ is truly putting its ‘clean money’ where its mouth is with the launch of its new Clean Energy Home Loan.

The bushfires that have affected parts of New South Wales and Victoria have thrown thousands of Australians’ lives into disarray. And with so many forced from their homes, there’s every likelihood that important documents have been left behind or lost altogether.

The battle for Australians’ savings has begun, with neobank Xinja, today releasing details of its high interest savings account. The Stash account has an interest rate of 2.25% for balances up to $245,000 with no minimum deposit or withdrawal conditions.

Congratulations Australia, our collective credit card debt has dropped as a nation by over 8% in the last year.

Ok, you’re probably tired of all the 2020 vision jokes already, but honestly they’ve been coming for the past five years. And regardless of whether or not you’ve suddenly gained perfect vision in the new year, January is a great time to review your home insurance policy.

The new year hasn’t started with a bang for Aussie savers, but rather a whimper. Right now, the average savings account rate in the Mozo database sits at a paltry 0.98%,* and may tumble even further over the year, as our money experts predict two more RBA cuts are in the pipeline for 2020.

Ladies and gentlemen, the time has finally come to shake the Mozo Magic 8-ball once more to catch a glimpse of what your financial future holds for the next year. What’ll 2020 look like for you? A major career change? A new car? There’s only one way to find out… Behold, your 2020 vision awaits!

Being stuck in a confined space, encountering a spider bigger than your pet cat or running into an ex - it’s the stuff that nightmares are made of.

With a new year and a new decade comes promises of starting afresh - and for many people, that may mean letting go of old debts and getting back in touch with healthier money habits.

Major Australian banks including NAB, the Commonwealth Bank and Westpac have been hit by the recent Travelex site ransom.

Following a submission to the senate, the Reserve Bank of Australia (RBA) has expressed its concerns over social media giant, Facebook’s planned cryptocurrency, Libra.

If it’s seeming more and more difficult to save money nowadays, you can take some solace in knowing you’re not the only one. A recent study by ME found that inadequate incomes are the main thing keeping Australians from reaching their financial goals in 2020.

2020 is off to a roaring start for the energy market, with two new energy retailers launching in New South Wales.

Are you guilty of a bit of overspending this past Christmas? Don’t worry, you’re not alone.

All in this week’s banking recap.

January is finally here, and we all know what that means...It’s time to face your financial fears! Yes you were probably expecting something a little more exciting, but the beginning of a new year really is a good time to review your expenses and see where you could be saving more money in the year ahead.

The festive season is officially over… That’s right another 11 months until it rolls around again and you are able to jet set off on another Christmas holiday.

If you’re a homebuyer working in law or accounting, then it could be your lucky day.

Is getting new digs on your to do list for 2020? Well if you are keen to become a homeowner or you’re looking to refinance this year, then you’ve probably started sifting through all the home loans on offer already. Of course that in itself is no mean feat, because there’s a lot of home loans to choose from, in fact according to our databases there are over 500 home loans available in Australia.

It’s a new year, a new decade in fact, so what better time than now to shoot for the stars by setting a serious savings goal for 2020?

Still need to set your new year’s financial resolutions? Well, take inspiration from online bank UBank’s interesting new data which reveals the most popular savings goals among Aussies in 2020 and how much they’re saving towards them.

For many Australians, January presents the perfect time to take control of their finances and set goals for the year ahead. And given the year of financial flux that was 2019, plenty of Aussie businesses and households are likely only just catching up now.

From the fall of credit cards to the rise of neobanks, 2020 promises a year of exciting new developments in the banking world.

Australian banks, big and small, have stepped in to help communities across the country devastated by the bushfire emergency.

If the urge to shop got the best of you in December and you’ve found yourself saddled with more credit card debt than you’d care to think about, it might be a good idea to look at a balance transfer credit card.

Cuts, cuts and more cuts - the Reserve Bank didn’t hold back on interest rate cuts in 2019 and neither did lenders. The result? Business loan rates are the lowest we’ve seen in years and with more action from the RBA on the horizon, rates could keep plummeting!

At the start of every new year, it seems that everyone has got the same goal in mind: to save more money. But obstacles and temptations abound, and even after a few setbacks it’s easy to become demoralised.

What a difference a century makes. Back in the actual roaring 20s, scraping together your last pennies wasn’t just a metaphor to show how broke you were, because Australia literally used pounds, shillings and pence.

Has the new decade got you reevaluating your mortgage decisions of the past? Or has it got you looking towards the future, with a new home on the horizon?

The new year has arrived, and with it a shiny new decade, making it the perfect time to get serious about wiping clean the debts of yesteryear and starting the new decade afresh.

Flights, accommodation, food and sightseeing - the list of expenses for an international trip can really add up, so the last thing travellers will want to see on their bank statements is a list of fees for using their debit card abroad.

New year, new me… or rather, new home loan?

The doors to 2020 have opened, and with it, the opportunity to kick start the year with some healthier money habits that will also lead to a wealthier you this year.

The new year. Honestly it’s a weird one. It’s a time to reflect on the ups and downs of the past 12 months, set resolutions for the next 12 and try and buy into the old cheesy sentiment, new year new you!

With the Christmas festivities all done and dusted, 2019 has officially left the building, folks! And with the new year finally here, your fave Financial Checklist is back and better than ever! Did you miss us?