News archive for July 2022

Aussies have been doing it tough. After weathering a year of high inflation, stubbornly elevated interest rates, and relentless cost-of-living pressures, many households are still feeling the financial squeeze. While inflation has eased slightly and the Reserve Bank of Australia (RBA) delivered its first rate cut in four years, the economic outlook remains shaky.

There are lenders out there who will let you borrow money specifically for investing in shares. This kind of borrowing is usually through a margin loan. However, before diving in, it’s crucial to understand that this option comes with considerable risks, and you should seek professional financial advice to navigate the ins and outs.

If you’re considering switching share trading platforms, you’ll likely need to transfer your shares to your new account. There are numerous reasons to make the switch, such as lower brokerage fees, enhanced features like live market data, or access to robo-advice.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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

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.

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

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

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.

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

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.

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.

Alarmed by your phone bill? No wonder! Inflation has hit all corners of the cost of living, from groceries to energy to even our MVNO on Optus’s 4G Plus network, Circles Life claims the Big Price Freeze promotion could save customers up to $600 over eighteen months and keep plans 10-40% below average mobile costs.

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.

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?

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.

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.

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

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.

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

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.

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.

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!