News Archive for July 2022

Getting a new smartphone can be an expensive prospect, but a hot new option just landed on the market. Meet the Pixel 6a, which according to Google is faster, better, and cheaper than ever.

Telco Belong has partnered with Kingfisher to launch a line of refurbished mobile phones to combat the rising impact of tech e-waste on the environment.

So you’re thinking of moving to Hawkins, Indiana. Welcome to Hell – er, we mean the most exciting town in all of Middle America! With local charm, a wide variety of nostalgic properties to choose from, and definitely no demogorgons, there’s something for everyone and every budget in this perfect midwestern slice.

For the first time in 14 years, McDonald’s stores in the United Kingdom have jacked up the price of their signature cheeseburger.

With interest rates on the rise, the inflation of food, petrol and services also trending upwards, and the average paycheck finding it hard to keep up with these rising costs, most of us are sharply focused on how we spend our money.While it's hard to quickly increase your income, reducing your outgoings can be easier than you think by making smarter choices that could stretch your budget out further. Even small savings can quickly add up and make a big difference to your family’s budget.So if you’ve got money on your mind and are looking for some easy ways to spend less on your household expenses without making any radical changes, read through our 8 tips to help your budget go the extra mile.

Australians have been copping it from all angles. Between soaring inflation, supply chain chaos, and a central bank determined on an absurdly aggressive round of rate hikes, living costs have mushroomed in the last year. Now, economists warn another threat may loom on the horizon: recession.

The number of successful auctions drifted down over the June quarter, as rising interest rates, runaway inflation and weak consumer sentiment make for a difficult selling environment.

With inflation still rip-roaring through the economy, mortgage holders paying variable interest will be nervously watching the Reserve Bank of Australia (RBA) for future rate hikes.

Digital home loans are all the rage. After the success of CommBank’s new digital home loan, Unloan, another Big Four bank has waded into the space.

Since the RBA rate hike in May, quite a number of financial institutions have increased savings account rates, including for business savers. In fact, Mozo’s database recorded an increase by 25 of the 49 business savings accounts we track during this time period.

Six cars in the garage seems like the domain of the seriously wealthy, but the ABS tells us an altogether different story.

The popularity of electric vehicles (EVs) in Australia has skyrocketed in recent years as more companies have released cheaper models to cater for all demographics.

As Aussies, it’s easy to forget that we’re living on a little island disconnected from the rest of the world. With the cost of living continuing to climb, and rising rates adding pressure on homeowners (all while home ownership feels like a distant fantasy for others), you’d be forgiven for feeling a little less than optimistic about the financial future.

The lull in business term deposit rates is seeing a major reversal, according to the average rates in Mozo’s database.

Before complaining about a Christmas piece in July, hear me out. Money doesn’t grow on Christmas trees, right? Expenses are everywhere, and with the rising cost of living it's better to start ‘sleighing’ your Christmas savings goals early.

Following on from EU proposals to phase out new petrol and diesel powered vehicles by 2035, the ACT has announced plans to do the same.

After two years of intense flooding, gale force winds, and raging bushfires, Mozo’s latest survey research has found almost half (49%) of Australians believe climate change is driving up their insurance premiums. Severe weather events have forced many to claim on their policies, with losses for homes and cars alike topping an estimated $4.8 billion.

Yes, there are lenders which will allow you to borrow money for the purpose of investing in shares.

With online shopping at an high during the COVID-19 lockdown, it comes as no surprise that 2020-21 saw more than 2.1 million Australians fall victim to personal fraud.

Victorian gas reserves have hit an all time low, with the possibility that the state may face “total system” gas supply shortages.

Spending more time inside streaming movies and TV shows to escape the cold? Now could be a good time to review your broadband plan to keep up with your internet needs.

Telstra is currently offering a deal where you can save $20 per month on their NBN100 plan and $30 on their NBN250 plan for the first 12 months. But get in quick, this offer is only available until the 25th of July.

You’ve been dreaming of beaches and cocktails, and now it’s time to book that trip - but ouch, those flights can sure sting.

Suncorp making an agreement to sell its banking business to ANZ for $4.9 billion raises all sorts of questions.

Aussies spent more than 600 times more on travel between January and May of 2022 than they did in the same period last year, so to say travel enthusiasm is at a high seems like an understatement.

When it comes to grocery-related drama this year, we've just about seen it all.

Neobank UP has joined the mortgage market and now offers variable and fixed home loans for refinancers.

Pandemic savings and ballooning asset prices have left Australian households in good shape to cope with rapidly rising interest rates, according to Reserve Bank of Australia deputy governor Michele Bullock.

In the last two years, Australia’s property market has been shocked by a few seismic shifts. Not only did the pandemic bring an explosion of property prices, but until recently, fixed rate home loans were at deeply attractive lows.

Telstra’s 7 Day Flash Sale starts today and runs from 19 – 25 July, 2022.

If you're looking to change share trading platforms, then you'll likely need to transfer your shares across to your new account.

Adult life seems to be 90% maintenance. Whether it’s keeping up with bills or household care, it’d be nice if someone rewarded – or even noticed – our efforts from time to time. Luckily, some home insurance providers absolutely do.

If you’re like me–a renter not looking to own any time soon–seeing home loan rates increase doesn’t seem that big of a deal. But recent RBA hikes - pushing the official rate up to 1.85% - can also positively affect savings accounts, which is always a big plus!

Bank of Queensland have paid a $133,200 fine for alleged breaches of Consumer Data Right (CDR) rules.

Since the first RBA rate hike in May, we’ve seen financial institutions increase term deposit rates. In fact, in June alone we saw a total of 615 increases in our database.

Over the last two years, the home loan market has been rocked by a series of rate hikes thanks the Reserve Bank of Australia (RBA). The central bank has been chasing runaway inflation with tighter monetary policy.

Wherever you look you’ll find that the median house price in most Australian capital cities has moved closer to one million dollars.

This week, Netflix announced its partnership with Microsoft to introduce a cheaper subscription option for customers that includes advertisements.

Keen to go green? A lot of Aussies are, with demand for green cars and electric vehicles (EVs) growing as new options enter the market.

Alarmed by your phone bill? No wonder! Inflation has hit all corners of the cost of living, from groceries to energy to even our mobile plans. Big providers like Telstra and Optus have been passing along rising prices to customers, but one little guy has decided to take a stand.

A continued flow of residential properties going to market, particularly in Sydney, Melbourne and Canberra, has eased earlier competitive conditions and tilted the market further in buyers’ favour, according to recent data from PropTrack.

Your bank has access to your most important personal information and your money, so being able to trust them is oh-so-important. With trust accounting for 75% of a brand’s reputation, it’s also important that your bank is able to secure your trust.

Knowing the best way to spend and transfer money internationally can take you down roads less travelled. We just don’t do these things every day! So if you’re moving cash internationally and don’t know how to do this at a lower cost, Mozo has a plan all mapped out for you.

Australia is a country of drivers. We drive to work, we drive to the shops, we go on weekend road trips, and to go see our friends. Our cars are important to us, and plenty of people drive every single day. So, when something goes wrong with our cars (like getting in an accident) it can be a real pain in the bumper – not to mention expensive to fix. Hence why it’s useful, if not financially responsible, to have car insurance.

Every household is different when it comes to the appliances they prefer and therefore which ones use the most power in a given year.

Recent ABS stats show that Aussie personal loan lending has hit a high, with people looking to combat the rising cost of living and tackle projects like home renovation.

To ease the inflation currently bearing down on the economy, the Reserve Bank of Australia (RBA) has finally begun tightening monetary policy, lifting the official cash rate by increments of 25-50 basis points over the last three months.

Our eyes are on the heavens. After launching in December 2021, NASA’s new James Webb space telescope has just delivered some of its first mind-blowing pictures of the universe. Who isn’t starstruck by blooming nebulas and whirling galaxies?

If you’re after a streaming service with a heavy content rotation for you to work your way through, you’ve come to the right place.

The Australian Prudential Regulation Authority (APRA) has officially authorised the first Australian Islamic bank to have a restricted deposit-taking license under the Banking Act.

The Reserve Bank of Australia has been quite busy in recent months, delivering three consecutive interest rate hikes totalling 125 basis points. But anyone eyeing fixed rates in the hopes of safeguarding their finances may find they’ve already missed the boat.

Yes, there’s an energy crisis in Australia at the moment and most households have the bills to prove it! But what’s behind it? There are multiple reasons as to why the price of energy is going up, and so with the help of CommBank’s latest research, let’s recap.

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

With Australia undergoing a severe car shortage and fuel prices soaring, you might be eyeing up that car in the driveway and wondering if it’s worth it.

So you want to save more money but are short on ideas? Well, I’m here to give you 25 very different, perhaps even odd ways to save money with the help of Mozo’s content team.

The 2022 FIFA World Cup is just days away now. So if you're heading off to Qatar, make sure you're ready for kick-off by reading some of our top travel tips below.

It’s been a hard couple of years and comfort spending is on the rise.

Been feeling the sting of the upwards trend of the cost of living? A high interest rate on your credit card could be adding to your wallet woes.

Commitment-phobes beware because we’re talking term deposits!

Rising interest rates and shaky consumer confidence have put many Australian business owners to the test this year, but non-bank lender Lumi hopes to extend a lifeline with an innovative business loan option.

After back to back RBA rate hikes, MyState Bank has just raised the interest rate of its 24 and 36 month term deposits to a whopping 3.35% p.a. This makes its 24 month term one of the top 5 highest available in our database.

The Reserve Bank of Australia has delivered another cash rate hike — this time lifting rates by 50 basis points — as it ramps up its efforts to control surging prices.

According to The World Bank, the COVID 19 pandemic “spurred financial inclusion.” The2021 release of The Global Findex Database found that during the pandemic, many people around the world opened their first bank account and influenced people to turn to digital payment methods for the first time.

Last updated: 2:45 pm 8 July

Financial fears are brewing ahead of an expected cash rate rise from the RBA tomorrow, which could tip home loan rates above 4% and place almost half (45%) of mortgage holders around the country under significant financial pressure, according to Mozo research.

A pinch and a punch for the first day of the month! July 2022 is here, and so is your monthly Financial Checklist!

With Australian homes producing 13% of the country’s greenhouse gas emissions, it’s no surprise that Aussies are keen to find greener options for their property and finances.

As the Reserve Bank of Australia (RBA) raised the official cash rate again in June - up from 0.35% to 0.85% - we saw banks again revising their variable and fixed rates.

New payments service PayTo went live this week and has been touted as an easy way for customers to pre-authorise real-time payments from their bank accounts.

If you’re dreading the upcoming school holidays and are not sure how to keep the kids occupied for two weeks, here are some movie and TV suggestions on streaming platforms. The weather makes it a perfect time to stay in with a few favourites!