News Archive for November 2021

November 2021

Average cost of owning a car continues to go up as aussies spend over 350 a week on their transportation

Average cost of owning a car continues to go up as Aussies spend over $350 a week on their transportation

It’s no secret that a car is something that will cost you the moment you drive out of the dealership (have you seen the price of petrol lately?). From regular costs like car loan repayments, fuel and tolls to you more-occasionals like tyres, rego and insurance and roadside assist - it all adds up. That’s where the latest stats from the Australian Automobile Association come in handy, as they break down the Australia-wide average of different car costs.  According to the report, the average total transport cost for Aussies over the third quarter (Q3) of 2021 was $367.63 per week. That’s $6.99 greater than in the second quarter (Q2) of this year and makes up on average 15% of Australians’ total income. And, if you look at it from an annual cost perspective, it adds up to be $19,117 per year. While public transport is considered in the national total transport cost, it only makes up 6% of yearly transport costs overall, meaning the rest goes towards personal transportation costs (those associated with owning a vehicle) such as car loan repayments, fuel and repairs.

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More aussie workers likely to work from home after covid

More Aussie workers likely to work from home after COVID

Nearly one in five workers may continue working from home after COVID restrictions ease, according to new research from CSIRO and NBN Co. This would be a large increase from the one in twenty home-based workers across Australia prior to the pandemic.

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Renewables bring household energy prices down

Renewables bring household energy prices down

The average household energy bill has dropped thanks to an uptake in renewable energy, the latest report from the Australian Energy Market Commission (AEMC) has found. Customers can also expect the trend to continue, with the AEMC estimating the average home will pay $77 less annually for their power than they do now.

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Green hydrogen not enough to save future of gas distribution

Green hydrogen not enough to save future of gas distribution

Green hydrogen has been touted as a way to bring down the emissions of the gas market as Australia and the world moves towards cleaner energy. But a new study from German think-tank Agorie Energiewende concludes it won’t be enough to save traditional gas distribution grids.

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Online shopping

5 important things to remember for Black Friday shopping in Australia

Black Friday 2021 is finally upon us and this year more Aussies than ever are getting ready to spend more than ever on the big day.Black Friday is the perfect time to grab incredible deals on essentials, as well as Christmas presents. But, before diving head-first into the sales frenzy, you should be aware that shopping from Australia can be more complicated than from other regions.Here are five important things to keep in mind when Black Friday shopping online in Australia.

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Home loan still with a big bank? Stop paying too much...

Home loan still with a big bank? Stop paying too much...

When the head of the nation’s biggest bank, CommBank, publicly admits that profits are being ‘shredded’ due to intense competition from rival lenders with ‘cut price’ mortgages, it’s time for big bank home loan customers to take stock.

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Insurance trends and the road forward in 2022

Insurance trends and the road forward in 2022

You probably don’t think of insurance as a ‘trendy’ topic – and fair enough, it’s not necessarily the most enthralling topic among the personal finance bunch. But like any area of finance, it has its own quirks and trends that develop over time.

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When will australian property prices fall

When will Australian property prices fall?

The Australian housing market has enjoyed remarkable growth during the pandemic era, but the nation’s biggest bank expects the pace of growth to slow down to 7 per cent next year before tumbling in 2023.

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Motorbike loans the ins and outs of funding two wheels

Motorbike loans: the ins and outs of funding two wheels

Got an itch to hit the open road on two wheels this summer? Or maybe you’ve been dabbling with the idea of scooting to work? Whatever the reason, when it comes to financing the purchase of a motorcycle (or motorised scooter) it's best to know what options are out there - because the truth is it may not be as straightforward as getting a car loan.   According to recent stats from the Federal Chamber of Automotive Industries (FCAI), 86,239 new motorcycles, scooters and off highway vehicles were sold between January and September of this year, an increase of 6,616 year on year.   “This steady growth of 8.3 per cent over the same period in 2020 shows us that there is strong demand from buyers who want to use a motorcycle as their first choice for the daily commute and for recreation,” FCAI chief executive, Tony Weber said.Plus with the FCAI’s ‘Ride Your Motorcycle Week’ around the corner (29 November to 5 December), Weber is hoping that more Aussies will hit the road soon.  “When you’re on the bike, there’s nothing else like it,” Weber said. “But life gets in the way. Ride Your Motorcycle Week is just a little extra push to get your bike serviced ahead of riding season, take the bike to work or take the long way home, take the day off and reconnect or just go and have an adventure. This is the week to start doing it.”

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Glasgow cop26 inspired you to go green here are some loan options to reduce emissions at home

Glasgow COP26 inspired you to go green? Here are some loan options to reduce emissions at home

With talks around net zero emissions and green energy still circulating on the back of the Glasgow COP26 climate summit, it’s no surprise if it has inspired you to go green. From installing solar panels, rainwater tanks and water treatment systems to upgrading your white goods and appliances to energy efficient options, there are a range of ways to help the planet from your own home. But the question is: what are your funding options when it comes to a ‘green reno’? Well, if your nest egg doesn’t quite cut it, you may want to consider a green personal loan option.

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Home loans to get more costly as rba flags rate rise

Home loans to get more costly as RBA flags rate rise

Homebuyers who have taken out mortgages at record low interest rates have been warned that they might not be around for much longer, as a rapidly improving economy prompts a rethink of the Reserve Bank’s loose monetary policy.

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Australia has highest coal power emissions per capita in world

Australia has highest coal power emissions per capita in world

New research has shown that Australia has the highest coal power emissions per capita in the world, with coal still a major energy source in the nation. According to the data, Australians emit almost five times more carbon dioxide from coal power than the average person globally.

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Articles

5 ways to save on gifts this Christmas

Emerging from our Covid lockdown cocoons has been a joyful affair for many. Far flung friends and family have been reunited, we’ve tamed unruly locks at the hairdressers, and even begun booking holidays.

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Fixed rate home loans that allow extra repayments

Fixed rate home loans that allow extra repayments

Since the RBA confirmed that the cash rate could rise sooner than initially planned at its November meeting, many borrowers have turned their sights to fixed rates to protect their finances against rising rates.

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HSBC cuts variable home loan rate to new low

HSBC cuts variable home loan rate to new low

Anyone looking to refinance or move up the property ladder has a smorgasbord of options available to them nowadays, but one major bank lender is going out of its way to stand out from the pack. HSBC has cut the variable rate on its popular Home Value Loan to an ultra-low 1.97% (1.98% comparison rate*) for borrowers with 30% deposit or equity.

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Electric vehicles could double demand on grid by 2030

Electric vehicles could double demand on grid by 2030

With more Aussies making the jump to electric vehicles, emissions will fall as our reliance on petrol cars diminishes. The energy market may face a struggle to adapt, however, with electricity demand set to double by 2030, according to a new report.

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Australia's Best Online Lenders of 2021

Australia's Best Online Lenders of 2021

More Australians are turning to online mortgage lenders when taking out a home loan, and it’s proving to be a pretty savvy financial decision for many. Speedy online applications, super-efficient approval processes, and best of all, low interest rates — these are just some of the advantages that online mortgage lenders have over the major banks.

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How to consolidate your debt in a personal loan for christmas

How to consolidate your debt in a personal loan - before Christmas!

The cost of living crisis has impacted many, particularly over the last few years. So it’s not entirely surprising that some Australians might be feeling a lot of pressure on their finances this December. If you’re concerned about meeting holiday commitments, you’re not alone.

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Best credit cards

Australia’s Best Credit Cards April 2024

With the cost of living continuing to rise you may find yourself needing to break out your credit card more frequently. Many credit card providers have spent the past months reducing their offers for bonus rewards points or shrinking their balance transfer options, so if these things are important to you, it's now more important than ever to find the card that suits you best.

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Low rate home loans round-up: November 2021

Low rate home loans round-up: November 2021

Interest in low-rate home loans is surging as the post-pandemic property market heats up, lenders cut rates to jaw-dropping new lows and savvy borrowers looking to save money on their home loan refinance in record numbers.

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November 2021 financial checklist

November 2021 Financial Checklist

A pinch and a punch for the first day of the month - it’s November, folks! And lucky for you, we’ve got just the thing to help you get prepped for the Silly Season, which is just right around the corner.

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