News Archive for February 2023

February 2023

Should i take out a 6 month term deposit pros and cons

Should I take out a 6 month term deposit? Pros and cons

With interest rates sitting high, more Aussies are looking to park their savings in a safe place to help their money grow. One way people are achieving this is by taking out a short 6 month term deposit, but is it worth doing?

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Musicals live shows coming to australia in 2023

Musicals & live shows coming to Australia in 2023

There ain’t no business like show business! And if you love a good show, you’re in for a real treat! From Hairspray to Wicked, there’ll be tonnes of live theatre productions happening in Aus this year.

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What can i use a personal loan for

What can I actually use a personal loan for?

So you’ve found out about personal loans and you’re wondering what you can and cannot do with them. While you can take out a loan for different purposes, personal loans can’t be used for everything and we’ll get into that below.

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5 tips to avoid mortgage prison

The threat of ‘mortgage prison’ has been bearing down on Aussies in the wake of continued interest rate hikes and tightening economic conditions. However, many borrowers still have a chance to avoid this trap.

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Unloan named australia s best new home loan

Digital gamble pays off for CBA as Unloan wins best new home loan

If there’s one home loan lender more and more Aussies are hearing about, it’s the new digital lender Unloan, built by CommBank. And for good reason. Between seriously competitive rates, zero fees , handy features like its loyalty discount, and speedy 10 min online application process, Unloan has become a force to be reckoned with. The Mozo expert judges think so too, as they’ve awarded Unloan two Mozo Experts Choice Awards in 2023^ for Best New Home Loan and Low Cost Home Loan. “Now more than ever, borrowers are looking for ways to reduce their mortgage repayments,” said Mozo expert judge, Peter Marshall. “With the winning combination of low rates, unique features, the scrapping of fees, and big bank backing, Unloan has set the bar for what a leading home loan looks like.”

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I asked chatgpt to plan my europe trip

I asked ChatGPT to plan my Europe trip

Planning an overseas trip, especially one with legs in multiple countries, can be a trying task. Besides the questions of where to go and what to do, you need to work out whether to get travel insurance, if you need to apply for visas, and so much more.

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Credit card boom 5 top low card rate deals

Credit card boom: 5 top low card rate deals

As inflation and rising interest rates put a strain on finances, it's not surprising that more Australians are turning to credit to help buffer their budgets.  According to credit reporting agency Equifax, applications for new credit cards surged by 21%^ in the December quarter. Yikes!But a credit card can be an extremely useful financial tool to have at your disposal if you are savvy about when you use it, where you use it, and when to stop using it. And while it can be tempting to be drawn towards cards with flashy rewards points offers and extras like airport lounge access, these cards generally have interest rates over 20% p.a.  Fortunately, there are some cards on the market with low interest rates on purchases, and some even come with low fees and perks. With this in mind, here’s our Editors’ round up of low interest credit card deals this month.

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Are you facing mortgage stress more than 100 000 australians could be too

Are you facing mortgage stress? More than 100,000 Australians could be too

Pressure is building on more Australians after yet another hike in the cash rate was announced by the RBA. To make matters worse, according to a report by fintech Otivo, more than 100,000 Australians are set to fall victim to mortgage stress with the wealthiest suburbs set to be hit with the brunt of it.

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6 savings challenges worth trying in 2023

Whether you're saving for a deposit on a house, a much needed holiday or simply want to stash some cash for a rainy day, making the most of your coin doesn’t have to be a boring task. There are a myriad of savings challenges to help you reach your goal that can get you there in an exciting way.

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How to celebrate holidays safely with your dog

How to celebrate Easter safely with your dog

Ah, Easter: a lovely holiday for us, but a chocolate-riddled temptation for our pooches. Because accidental poison ingestion is a common claim on pet insurance, here are some tips on avoiding disaster and celebrating the Easter weekend safely with your dog.

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Six month deals are the hot new thing in mobile

Six month deals are the hot new thing in mobile

With many Aussies bracing for more rises in the cost of living, mobile providers have cottoned onto the desire for a bit of long-term financial security with an exciting suite of offers. That’s right: goodbye monthly bonuses. Hello to the half-year deal!

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Inflation to return to target in 2025 rba

Inflation to return to target in 2025: RBA

Not long after its decision to lift interest rates by 0.25 per cent at its February meeting, the Reserve Bank of Australia has confirmed that its war on inflation is far from over.

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Do 35 year home loans help or simply blow out your costs

Do 35-year home loans help or blow out your costs?

The length of your mortgage is perhaps something you’ve put on the backburner, along with how much your energy bill will come to after this humid summer and whether you might be overdoing it with too many streaming services.

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Rba rate hike spurs borrowers to ditch and switch

RBA rate hike spurs borrowers to ditch and switch

The RBA has dealt many blows for mortgage holders, with rate hikes adding an extra $1,092 to a $600,000^ home loan each year. And with economists now also saying that more hikes are likely in 2023, if you’ve been sitting on the sidelines until now, it’s time to review your home loan rate to see how it compares. According to the Mozo database the average owner occupier rate now sits at 6.60%, and 6.96% for investment loans. But with plenty of potential savings options on offer for borrowers, now is not the time to be complacent. We’ve rounded up some of the latest home loan deals.

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Leading digital lender makes waves with new 5 year fixed home loan

Leading digital lender makes waves with new 5 year fixed home loan

While mortgage holders have had a brief rest with the RBA's pausing of their interest rate hikes, banks have been relentless in passing through these rate rises for the past year.But one rival lender has come to the aid of borrowers with a new 5 year fixed rate home loan that is sure to send a stampede of savvy switchers their way.Aussie-owned, who has been taking on the big banks since 2011, now has a competitive 5 year fixed rate of 5.39% (6.05% comparison) available for owner occupier borrowers with up to 90% LVR .With the average Big Four 5 year fixed home loan rate in the Mozo database now sitting at 6.66%, this new loan provides an opportunity to lock in a decent rate and get some stability back with repayments.   Read on for our expert rundown of's new 5 year fixed home loan to find out if this digital dynamo could be your solution to keeping some of the mortgage stress at bay….

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Is 2023 shaping up as a chance for first time home buyers

Is 2023 shaping up as a chance for first time home buyers?

You’ve likely seen on the news that home prices have been in steady decline over the last year. So, maybe you’ve been thinking to yourself now might be the time to buy your first home. We look at some of the things you’ll want to consider.

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30 Valentine’s Day movie ideas

Planning a cosy movie night for Valentine’s Day but not sure what to watch? Mozo has you covered with 30 movie ideas including some you might not have heard of before!

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Groovin the moo lineup tickets more

Groovin the Moo 2023: Lineup, tickets & more

First held in 2005, Groovin the Moo the Moo is an iconic annual Aussie music festival that’s loved by many. What really sets this festival apart is that it’s held in various regional locations around the country.

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Improve your savings health with a financial feb fast

Improve your savings health with a financial Feb Fast

The beginning of the year can be a bit of a tough time for our wallets, with plenty of us struggling to find the money to squirrel into our savings accounts. If you’re looking for ways to save, take some inspiration from FebFast and FebFit and put your financial fitness in focus this month.

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