News Archive for January 2021

New research from the NRMA shows that car accidents peak during school pick-up time. These worrying statistics reveal that nearly 40% of car collisions occur between 1pm and 5pm, peaking at 3pm.

You may be at that point in your life when you’ve started to think seriously about buying a home. Maybe you’ve rented for a number of years now and you’re tired of handing over your hard earned dollars to someone else. That said, the thought of having to take out a home loan can also be quite daunting.

This time 12 months ago insurance companies shelled out $1.89 billion in property insurance claims related to hail damage on Australia’s east coast.

South Australian households doing it tough might be finally getting some energy bill relief, thanks to a new deal negotiated by the Marshall Liberal Government. From 1 January 2021, SA Origin Energy customers who use the SA Concession Energy Discount Offer (SACEDO) will now receive a 21% discount off the electricity reference price, up slightly from 20% previously. According to the Government of South Australia website, customers who take advantage of this offer are set to save an average of $384 a year, depending on their electricity plan. At the moment, more than 64,000 low and fixed income SA households are currently taking up the offer, however the Government is encouraging more than 145,000 eligible households to sign up. “We know that this year has been tough on South Australians, which is why it’s welcome news we can continue to build on electricity savings which are flowing onto our households,” said Minister for Human Services, Michelle Lensik. “In addition to the huge discounts on bills, this special offer boasts a range of other benefits, such as no late payment fees, no exit fees, and flexible payment options - small features that make a big difference.”Aside from the SACEDO offer, SA customers can also apply for the State Government’s annual energy concession of up to $231.41 during the 2020-21 financial year. This means that the total energy bill savings for households could hit $615.41. In order to be eligible for the SACEDO 21% discount offer, customers must:

NAB has announced plans to purchase neobank 86 400, which it will combine with its digital offshoot UBank in a bid to accelerate growth and innovation.The decision is still subject to shareholder approval, though 86 400’s team of directors have unanimously recommended that shareholders vote in favour of the scheme. “This will significantly fast-track our growth, propelling our business, customer numbers and balance sheet to a position which would’ve otherwise taken five years,” said 86 400 chief executive Robert Bell.Since launching in September 2019, 86 400 has attracted 85,000 customers and $375 million in deposits with its mobile-led platform. It also has $270 million in approved residential mortgages.NAB became a minority stakeholder in 86 400 after purchasing 18.3 per cent of shares last year. It informed the ASX on Friday morning it intends to acquire the remaining shares, which it estimates will cost approximately $220 million.86 400 chairman Anthony Thomson said the partnership with UBank will allow the neobank to “dramatically accelerate our growth and reach even more Australians with our smarter approach to banking.”“It means we’ll be able to invest even more into developing smart products, experiences and services, helping our customers own their home faster and reach their goals sooner with smarter spending and saving.”UBank CEO Philippa Watson also struck a positive tone, saying the transaction will allow the two digital players to continue to deliver innovative banking solutions to Australians.“Combining with 86 400 will bring together UBank’s established business and 86 400’s experience and technology platform to meet the changing needs of our customers,” she said.The purchase will still need to be approved by various official bodies, including the Treasurer, the Australian Prudential Regulation Authority (APRA) and the Australian Competition and Consumer Commission (ACCC). It is expected to be finalised by mid calendar year 2021. Until then, both 86 400 and UBank will continue to operate as separate businesses.

All in this week’s best banking news recap: editor’s pick.

Efforts by the Reserve Bank of Australia have made the cost of borrowing cheaper than ever, and record low fixed rates have seen a growing number of buyers rushing to lock in all or part of their loan.Lenders are certainly eager to attract quality borrowers. Online lender UBank, a division of NAB, recently announced a 3-year fixed rate of 1.75% p.a. (2.22% p.a. comparison rate*), which is available until 26 February 2021.The offer is currently the lowest standard fixed rate among lenders we track, and a full 62 basis points below the 3-year fixed rate average of 2.37% p.a.Even among the big banks, fixed rates below the 2.00% mark are no longer a rarity, with CommBank, NAB and Westpac offering customers between 1.98% p.a. (3.69% p.a. comparison rate*) and 1.99% p.a. (3.66% p.a. comparison rate*) on 4-year terms.But is now the best time to lock in your home loan? Mozo’s banking expert Peter Marshall says decisions by the RBA in the coming months could bring rates down even further, although pinpointing the bottom of the cycle can be tricky. “One option for the RBA is to continue to support low rates by extending its bond purchase program, and it could even start to target longer term rates, which some commentators have said could start in April,” he said.“But if the RBA decides to ease back on its bond purchasing activity there should still be some time to pick up a good fixed rate before they start to increase again.”If current interest rate settings have rekindled your property ownership dreams, check out the excellent deals below. And if you’d like a more in-depth look at what’s on the market, visit our home loans comparison page.

Baking bread, making frothy coffee and binge watching a documentary about a man and his love for tigers - there’s not much we didn’t do in 2020 to stave off boredom. But according to new Mozo data, we also spent time indulging in a bit of retail therapy. Mozo analysis shows that 1 in 3 Aussies have increased their comfort spending since the start of the Covid-19 pandemic. A massive 87% of Aussies admitted that they do comfort spend, with one in five frequently making comfort purchases. And if that wasn’t frightening enough, a Mozo number crunch found that the average Aussie is dropping $2,172 a year on comfort purchases, nationally that’s a jaw dropping $37,533,391,524! “Many of us have been cooped up at home and that has led to some sizable comfort spending. One in three people spent more last year on comfort spending than they had ever spent before,” said Mozo Director, Kirsty Lamont. “It’s no surprise that over half admit that their comfort spending habits put pressure on their budget.”

If you feel like your grocery bill has gone up a few dollars recently, you’re not imagining things. The cost of living has risen dramatically in Australia over the past year, with all items of your budget feeling the squeeze.

Almost every Aussie in lockdown last year braced themselves for a higher than normal energy bill. However new research from The Conversation has found that some households in particular fared worse than others. Older Australians who rely on the Age Pension as a source of income have been thrown into what’s called ‘energy poverty’, with many facing energy bills that were up to 50% higher than they were in 2019. In order to keep up with the high costs, many seniors resorted to cutting back on essential and non-essential spending, reduced the number of showers they took and even switched off the heater or air conditioner. This also meant that savings goals and other financial priorities were pushed aside to ensure their electricity bills were paid. “Even though I’m saving some money by not socialising, I can’t save money for potential emergencies as before. With the higher electricity bills and the new medical expenses, my capacity to save [has] reduced a lot,” an interviewee told The Conversation. But unfortunately, energy debt spread well beyond seniors during 2020. Figures from the Australian Energy Regulator (AER) revealed that long-term electricity debt for residential customers jumped to $124.5 million between 31 March 2020 and 2 November 2020. During this period more than 60,000 Australians also chose to defer their energy bills, allowing themselves some time to get back on their feet.

Current interest rate settings have fast-tracked property ownership dreams across Australia, with home loan approvals currently at all-time highs and first home buyers in particular flocking to the market in droves.But before you take out a home loan, there are a few things you’ll need to be clear about. Below we’ve compiled some of the main questions you should ask yourself to help you in your search.

As the holiday season comes to an end and life shifts back to normal, many Australians will be looking at their finances with fresh eyes, ready to plan for the year ahead.

Everyone talks about ‘back to school time’ but what about back to work time? January can be a hazy month for many and we’re not just talking about the heat. Many Aussies choose this time to take a few weeks off work to enjoy the Christmas break and a much needed holiday. The question is how do you get your finances back on track after taking time off?

Over the past year a lot of plans have either been cancelled, delayed or put on pause. Indeed, there’s a high chance that your money priorities look considerably different now compared to this time last January.

If there’s one thing 2020 gave the average Aussie, it’s a change in perspective when it comes to money. Not only did we take saving more seriously, but one in four Aussies vowed to rid themselves of debt. “Historically, Australians haven’t been afraid of debt, particularly through our love of credit cards. We’ve racked up debt with the assumption that job security and a steady paycheck is a relatively safe bet, but a global pandemic has tipped that notion on its head as unemployment soars,” said Mozo Director, Kirsty Lamont. “For many people, Covid-19 has been a wake up call to get their finances in order, and eliminating debt is a key part of that.” If you’ve never had to take a serious look at your debt before, it can seem a little daunting. So to equip you with skills you need to make your debt disappear, we’ve listed our top four tips below.

All in this week’s best banking recap: editor’s pick.

Online lender UBank today made cuts across all of its fixed rate home loans, bringing its three-year offer down to a new low of 1.75%. For a limited time, if you’re an owner occupier making principal and interest repayments, you can lock in ultra competitive three-year fixed rates from 1.75% (2.22% comparison rate*) with UBank.While UBank’s UHomeLoan (Fixed) was already the rate leader for three-year terms in the Mozo database, today’s 20 basis point rate cut raises it even further above the rest of the competition. The next best three-year rate after UBank’s is 1.97% - 22 basis points higher. Comparing it more broadly to other lenders within our database, UBank now sits a massive 62 basis points below the three-year fixed rate average of 2.37%. The only catch is you have to get in quick. To be eligible for UBank's new rate, you must apply by 26 February 2021 and have your application settled within 90 days.

The coronavirus pandemic has been a wake-up call in many aspects of life. Social injustice has come to the fore for one, including in supply chains and major companies, with people increasingly concerned about what impact their money is having on the planet. They are demanding more from banks, superannuation funds and insurance companies, and are aware of how companies handle their business around environmental, social and governance (ESG) concerns.

If we were to ask you for your phone number, you could tell us in three seconds. But what about if we wanted to know your credit card interest rate?According to new research from Defence Bank, one in three Aussies don’t know their credit card rate. Of those Aussies, four out of five didn’t realise their interest rate was above 10%, while some owed a card with a rate above 20%. “It’s time to break the cycle of paying unnecessarily high credit card interest rates. Australian consumers need to stop paying 20% for the convenience of a basic credit card, when genuine low-rate options exist for half the cost,” said Defence Bank chief executive officer, David Marshall. Concerningly, more than half (60%) of respondents admitted they don’t pay much attention to the rate on their card, while one in four carry a balance sometimes throughout the year. The data also found that Aussies are losing faith in rewards credit cards, with one in two believing the rewards programs are generally not good value for money. “We see from these results that Australians are frustrated by the rates they’re paying and the bells and whistles they either can’t use or don’t need,” says Marshall.

Whether it’s to pay for big ticket items or to support yourself through a financial emergency, there are all sorts of reasons why you might be considering a credit card this year.But while credit cards can help you out of a bind, the flipside is they could also lead you down a rabbit hole of debt, if not managed responsibly. Credit Counsellors Australia’s senior insolvency officer, Matt Shepherd says a mistake many people make is that they treat their credit card as ‘free money’ rather than borrowed money.  “We find that when people pretend like their debt isn’t there, that’s when it can really get out of hand. Due to interest and things like [late fees], a couple hundred dollars can turn into a thousand dollars very quickly,” he says. The good news though is that you can use a credit card without ever falling into debt. All it takes is practising healthy money habits, such as sticking to a solid repayment plan and being proactive with your plastic - that might mean knowing your interest rate, reducing your credit limit or switching to a more suitable card.We spoke to three personal finance experts about their top tactics for staying debt-free over 2021. Here’s what they had to say.

Not long after the pandemic hit, hundreds of thousands of Australians took up their bank’s offer to suspend mortgage repayments. But new deferral applicants will soon be turned down as banks prepare for the program’s end in March 2021.In a note to mortgage brokers, NAB said it will no longer be accepting deferral applications as of 20 January. Similar guidance has been issued by the other major banks, though an exact date has not yet been provided.The option to pause mortgage repayments was one of the major lifelines offered to borrowers last year as the coronavirus pandemic and ensuing lockdowns threatened to topple the nation’s housing market. Uptake peaked in May, when around 10 per cent of all loans on issue in Australia had been deferred. By November, that number had dropped to 2.3 per cent, with deferral exits outweighing new entries and extensions for the fifth straight month.According to the latest data from APRA, the total value of deferred home loans sits at $49.5 billion.As banks begin transitioning customers out of the deferral arrangements, borrowers still experiencing financial difficulty will be able to request support through their bank’s hardship program.But it remains to be seen how the more vulnerable of this cohort will fare in the long-run, with one tenth of all housing deferrals in November recorded as having a loan-to-value ratio above 90 per cent.RELATED: Home values continue to rise, regional markets more likely to return a profitWhile there was plenty of concern about the property market bottoming out last year, distressed sales have been kept to a minimum and housing prices have so far remained resilient in the face of multiple economic shocks.New loan commitments rose 5.6 per cent in November to a record high $24 billion, and growth in the first home buyer market was the highest since October 2009, when the government temporarily tripled the first home owner grant.As the economic recovery picks up pace, the majority of Australians maintain a positive outlook for the future, with the latest ANZ-Roy Morgan consumer confidence report showing sentiment lifting to a 15-month high.For more information about mortgage and lending trends, visit our home loan statistics page. And for a rundown of the support measures available to Australians, along with handy tips to keep your finances in good health, browse our coronavirus financial guide.

Australia’s largest banks appear to have successfully navigated their way through the COVID-19 pandemic with a tick of approval from their home loan customers.

In December last year, neobank Xinja renounced its Authorised Deposit-Taking Institution (ADI) licence and discontinued its banking and savings accounts.

As more households embrace renewable energy, new figures have revealed that solar photovoltaic (PV) systems are being installed at record numbers across the country. According to the ACT Government’s 2019/20 annual feed-in tariff report, there are more than 28,000 solar generators in the Territory, an increase of more than 17% during the previous financial year. What’s more impressive is that rooftop solar within the ACT has produced more than 135 megawatts during the 2019/20 financial year. Plus, more than 47,000 MWh came from over 10,000 solar PVs that were provided by the ACT Government’s Feed-In Tariff (FiT) scheme, an incentive from 2009 that was designed to boost solar uptake and reduce solar system prices altogether.  “It’s great to see incentives like these are giving the average household the opportunity to generate their own electricity and save on their energy bills,” said Mozo Director, Kirsty Lamont.

Want to build up a rainy day fund in 2021? Well it might be time to channel that positive, early noughties pop energy and reach for the savings stars!

Nobody immediately turns to their finances when bucket list dreams are on the agenda. It’s usually all scaling mountains and visiting unexplored corners of the globe in between finding true love and scarfing down fine dining feasts.

Let’s make a pact right now to avoid car insurance renewal blunders in 2021. It’s easy to take a misstep when it comes to renewal time, but this year that won’t be you.

Despite numerous economic headwinds, the Aussie property market held firm last year, with recent CoreLogic data showing the rate of profit making sales in capital cities increased over the September quarter.According to the research firm, the proportion of profitable sales nation-wide was 88.1% over the period, putting an extra $24.8 billion in the hands of sellers. This was up from 87.2%, or $19.8 billion, in the June 2020 quarter.However, the number of non-profitable sales also went up in September, with the total value of losses coming in at 1.2 billion, up from $885 million in the previous quarter.Hobart was the best performing city, continuing a trend that has lasted since March 2018. Meanwhile, Melbourne, which was still reeling from the effects of a prolonged lockdown, was the only capital city to post a decrease in the rate of profitable sales.CoreLogic Head of Research Australia, Eliza Owen noted that regional areas tended to outperform capital cities, particularly coastal regional markets such as Geelong, Illawarra, and the Sunshine Coast.“The combined regional Australian market saw the rate of profit making sales increase 150 basis points, to 89.2% in the September quarter, while the rate of profitability across capital city markets expanded 30 basis points, to 87.2%,” she said.The data also confirmed that the market rewards patience, with properties that were held for longer before resale more likely to return a profit.“Over the September 2020 quarter, the median hold period of resale events across Australia was approximately 8.5 years. For profit making sales, the median hold period was 9 years, while loss making sales were typically held for 6.7 years,” said Owen.

The total value of new home loan approvals jumped up 5.6 per cent in November to a record high $24 billion, according to the latest figures from the Australian Bureau of Statistics. Loan commitments for existing dwellings contributed the lion’s share of growth, increasing 5.9 per cent over the month to $12.44 billion.Meanwhile, the value of construction loan commitments rose 5.6 per cent to reach $3.01 billion. This marks an increase of 75 per cent since July last year, shortly after the Government’s HomeBuilder scheme was introduced.Housing Industry Association (HIA) economist Angela Lillicrap said the recent extension of the HomeBuilder program bodes well for buyer confidence and “will see the strength in housing finance data extend into 2021.”ABS data also shows the value of investor loan commitments increased by 6 per cent in November, however the share of investors remains low, with high vacancy rates and low rents among the main reasons investors are retreating from the market.

In the world of banking, 2020 was a whirlwind. From three RBA rate cuts and the implementation of open banking, to the growth of some neobanks and fall of others, it can all be hard to keep track of. So if you’re left feeling a bit confused about what’s to come in 2021, we’ve got you covered. Here are our top 10 banking buzzwords you’re likely to hear more than once this year.

Congrats, you made it out of 2020! If you weren’t into astrology before, then you probably are now after the year we’ve had.

All in this week’s best banking new recap: editor’s pick.

If you’re set on looking at your finances with a fresh focus in 2021, honing in on your biggest savings opportunity could be the place to start.

Small Business Ombudsman Kate Carnell has renewed calls for the federal government to provide HECS-style loans to businesses to help them stay afloat once JobKeeper ends in March.These ultra-low or zero-interest business loans would be government-funded and help boost cashflow, and similarly to the student HECS-HELP loan, would only be repaid once the business hits a certain agreed level of revenue.Carnell says that “somewhere between 25-30% of businesses are still really struggling.”“[That may be] because of the industry that they’re in, border closures, shutdowns, COVID requirements - a whole range of reasons why they’re not recovering at the same sort of rate as other businesses,” she says. “There are some [businesses] that are tracking in the right direction and they will be alright, but there needs to be an option for those that aren’t.”

Putting your property on the market can be an exciting time. But while you might be looking forward to the title changing hands and that lump sum arriving in your bank account, it can be easy to forget all the other steps involved, not to mention the costs. Some costs are unavoidable, such as real estate agent fees, conveyancer fees, and the cost of marketing your property to potential buyers. But there are plenty of voluntary costs sellers take on in the hope they’ll be able to bump up the sales price. Generally, you can expect to pay the following:

If 2021 is the year you say goodbye to lingering credit card debt, you might be considering picking up a balance transfer credit card. A balance transfer credit card allows you to transfer credit card debt you’ve built up over the years onto another card with a 0% interest rate - for a certain period of time. If used correctly, these cards do a fantastic job at saving you on interest and other fees you might be paying with your current card. Want to find out what’s on offer in January? Check out our top three balance transfer picks below!

Looking to buy your first apartment or switch to a cheaper home loan this year? Given how much interest rates have fallen over the past 12 months, the general consensus is that 2021 could be a great year to tick off these goals.The big question though, is what home loan rates should borrowers be looking for when shopping around? After three Reserve Bank cuts in 2020 which brought the official cash rate down by a massive 0.65%, what’s considered ‘low’ or ‘competitive’ has unsurprisingly changed a lot. As a rule of thumb, you’re likely paying too much with a rate above 3.00%, considering that a big bulk of owner occupier home loans now start with ‘2’ and some even begin with ‘1’.

Every new year is an opportunity to start fresh and try something new. And if one of your financial goals this year is to save a bit more cash, getting inspired with some fresh ideas is a great place to start. To help you take your first step toward your savings success, we’ve jotted down our top five savings tactics we think are worth their salt in 2021.

Whether you’re planning on renovating your home, going on holiday or consolidating debt, there’s no shortage of personal loans to help you get things off to the right start. And with so many digital lenders out there, much of the lengthy wait times and paperwork that were once par for the course when borrowing have been cut in half.

The value of homes in regional markets has grown by almost 7% over the last 12 months – more than tripling capital city property value growth on average – according to CoreLogic.

Is your takeaway coffee cup always full and your savings account always empty? If you answered a reluctant ‘yes’ to that then it might be time to rethink your expenses.

When it comes to money management, the decade got off to a very weird start. A global pandemic and short-lived recession left many Australians struggling to maintain funds in their savings accounts, while others started spending in new ways.

Whether you are looking to switch your home loan, opt for a high interest savings account or get a fresh set of wheels with a car loan, 2021 could be the year to get more financially savvy. So, how can you improve your money know-how this year? It’s all about what you look for when choosing your financial products. There are three main things to consider:

With a sudden strict four month lockdown it’s safe to say Victorians haven’t had an easy 2020. But with the Essential Services Commission (ESC) announcing its final energy prices determination for 2021, the new year may already be off to a better start. The ESC has announced that the Victorian Default Offer (VDO) will fall by 10% for residential customers and 14% for small businesses customers. That equates to a bill reduction of $159 per year and $916 a year, respectively.As a quick recap, the VDO, which came into effect 1 July 2019, is a default energy offer available to all customers in Victoria who choose to not engage in the energy market - that is, comparing offers and switching plans. The VDO also replaced standing offers and capped prices, preventing retailers from charging expensive plans to customers on these offers. “The fall in the default offer is being mainly driven by lower wholesale electricity purchase costs, with lower prices likely to assist many Victorian households and small businesses in recovering from the impacts of the coronavirus pandemic,” said Essential Services Commission pricing director, Marcus Crudden.The state’s economic regulator estimates that these price reductions will provide some much needed bill relief to around 125,000 households and 40,000 small businesses.

Loan deferrals were among the most significant measures introduced last year to keep households and businesses afloat, but data from the Australian Prudential Regulation Authority suggests the number of borrowers who need them is trending down.The latest figures from the government regulator reveal that $60 billion worth of business and home loans were still on hold as of 30 November, meaning 2.3% of all loans in Australia were not currently being serviced.But the number of loan exits has exceeded new entries for the fifth month in a row, with a total of $32 billion in loans expiring or exiting deferral compared to only $7 billion entering or being extended.Banks introduced the deferral schemes in March 2020 as uncertainty surrounding the pandemic reached a fever pitch. Uptake peaked in May, when 10% of all borrowers in Australia had arranged to pause repayments with their lender.Home loans make up the bulk of all deferred loans, with $49.5 billion out of a total $1.8 trillion worth of mortgages subject to deferral in November. SME customers account for considerably less, with $7.6 billion in business loans out of a total $322.3 billion deferred.Victoria continued to record the highest number of repayment deferrals, with its extended lockdown bringing the number up to 3.2%. For comparison, only 1.7% of loans were deferred across all other states and territories. While the number of borrowers who have resumed repayments might give the impression that household finances are on the mend, Australian Banking Association chief executive Anna Bligh cautions against being overly optimistic.“Banks have said very publicly and very honestly, that for some of their customers 2021 is going to mean facing some pretty tough decisions,” she told ABC radio late last year.She added that there will be circumstances “where it is in the best interest of the customer to put their property on the market, realise the equity they have in it and restore themselves to financial well being.”Customers who are struggling are advised to contact their bank and make use of the financial hardship services available. For an overview of other support measures, along with handy tips to keep your finances in good health, browse our coronavirus financial guide.

January has rolled around once again and with it so has a determination to really get a handle on your finances. This time you’ve got a foolproof savings plan, you’ve cancelled lingering subscriptions and you’re working on banishing your credit card debt.

Beyond committing to yet another gym membership or meal plan, New Year’s resolutions are a great opportunity to step back and re-evaluate your financial goals. If you’re a homeowner, that includes your game plan on how to pay off your mortgage sooner. But sticking to a big goal like ‘repay a third of my home loan by the end of 2021’ can be tricky. The secret is to break it down into smaller steps. You’ll find that keeps you focused and motivated while moving you towards the ultimate milestone of being mortgage free. So to help you stay on top of your mortgage this year and save big on interest, here are four mini resolutions to tick off your 2021 list.

The new year offers plenty of promise for Australian home buyers: home loan rates are set to stay at record lows for at least the next three years, while house prices have rebounded for the third month running. Nationally, home values rose by another 1% last month, according to the latest figures from property data platform Corelogic.Regional markets were the standout player. Their annual home values outperformed the capital cities by more than three times (7% growth, compared to 2%), thanks to a trend of Australians seeking out ‘tree changes’ amid work-from-home arrangements. Now with 2020 behind us and things continuing to swing around for the property market, could 2021 be the right time to buy your first or next home? Mozo’s property expert, Steve Jovcevski says the start of 2021 is a particularly good time for first home buyers to get their foot on the ladder as house prices will likely increase in the months to come. “The prediction is that the property market will do really well this year and surpass the 2017 price peak,” he says.Or in economist Dr Andrew Wilson’s words, “the jeopardy of waiting [is] if you don’t buy early, then you’ll be paying more as [time] progresses.”

Goodbye 2020 and hello 2021! With the holiday season drawing a close and a brand new year ahead of us, it’s time to get ready to kick some serious 2021 goals.In fact, if you start out on the right foot, this could be the year to give yourself the best chance to achieve your financial New Year’s Resolution, no matter how big or small. So with that in mind, here are some 2021 financial New Year’s Resolutions and simple ways you could knock them out of the park over the next 12 months!