News archive for May 2023

May 2023

Articles

5 Bad credit card habits you need to break

Once you’ve got a credit card (or multiple credit cards, as may be the case) it can become easy to fall into a pattern of bad habits. With potential for bad credit card card habits to have a long-term impact on your credit score and your ability to borrow in the future. To keep your future finances looking sweet, let’s break those bad habits now!

How to choose ethical and eco friendly credit cards

How to choose ethical and eco friendly credit cards

When it comes to choosing a credit card there are a lot of factors to consider – the interest rate and the credit card rewards are only the beginning. But what about the feel-good factor behind the card?

Articles

7 things think about when choosing your next savings account

So you’ve just mastered the art of sticking to a budget and now have some money set aside for a rainy day or your next holiday. You might be wondering which savings accounts you should keep your hard earned money in.

Articles

10 savings tips for your 20s when you love spending money

Whether you want to live it up on a Euro summer trip or just have some extra cash in the bank for a rainy day, saving in your 20s can be tricky. Everyday expenses can add up and you don’t want to sacrifice your social life - money is made to be spent right?

How to have a happy eofy and maximise your tax return

How to have a happy EOFY and maximise your tax return, with ubank

Many young Aussies have been doing it tough financially, which can make tax time hard. So with the End of the Financial Year (EOFY) fast creeping up on 1 July, it’s time to run our finances through a necessary checklist. Are we prepared to file our returns and make the most of it?

Home loan review is it time to refinance

Home loan review: Is it time to refinance?

Borrowers have been feeling the squeeze since RBA began its rate hike spree and many have been trying to find strategies to keep themselves afloat—and refinancing might just be one of the favourites amongst Aussies.

Why you should open a high interest savings account

Why you should open a High Interest Savings Account

With recent rate hikes by the Reserve Bank of Australia causing banks to raise their interest rates, borrowers have increasingly felt squeezed. However, if you’re a saver, now might be your time to shine as high interest savings accounts have been bringing in great returns with some savings accounts as high as 5%.

Online lenders hit home loans with massive rate hikes

Online lenders hit home loans with massive 0.30% - 0.50% rate hikes

The Reserve Bank of Australia surprised the market in May with another 0.25% rate hike, but the market astonishes even more. In the last two days, many online lenders funded by Bendigo and Adelaide Bank have made sweeping changes to their variable offers for new customers, most at or over 0.30% p.a.

Car buying options 3 ways to get an electric vehicle

Car buying options: 3 ways to get an electric vehicle

Electric vehicles (EVs) and eco-friendly cars are the ‘it girl’ of the automotive world at the moment. They’re sleek, expensive, and on the rise - not to mention they have a great publicist.

Womens financial wellbeing 7 things you can start today

Women’s financial wellbeing: 7 things you can start today

Living a financially healthy life is a common goal, but what if the odds aren’t stacked in your favour? Women are subject to less pay, comparatively lower retirement funds and less education in financial matters compared to men.

Super saving kids exceeding adults in financial literacy according to kit report

Super saving kids exceeding adults in financial literacy according to Kit report

Kids as young as six years old are showing a remarkable uptick in financial literacy, according to a report by Kit. The study, covering more than 4,000 families, paints a more positive picture of family finance in comparison to the latest HILDA survey—which found each age group experiencing a decline in financial literacy and that adults struggled to answer basic questions about money.

Five ways to save money on contents insurance

Renting your home? 6 ways to save money on contents insurance

Young renters often forgo the added expense of contents insurance. Common excuses include, “My stuff isn’t worth that much,” or “I’d rather just save the money for a rainy day.” But you’d be surprised how quickly all your worldly possessions add up.

May 2023 federal budget review

Cost of living, energy, and home loans: recapping the new Federal Budget

After a year of economic turmoil and government shake-ups, the Australian Federal Budget has a steep hill to climb. Pressing issues like the rising cost of living and housing affordability crisis understandably took centre-stage, with major wins for energy, superannuation, and JobSeeker included. But has the budget done enough to relieve money stress for Aussies?

How to maximise your savings account interest rate

How to maximise your savings account interest rate

There are loads of reasons for wanting to have a healthy stash in your savings account. Whether it's for a rainy day fund or a house deposit, it’s important to grow your savings. One way this can be achieved is by trying to maximise and get the most out of your interest rate.

Articles

5 great home loan features – and the sneaky reasons lenders offer them

Everyone knows about home loan interest rates, especially since they’re quite high at the moment. But if you’re just starting your property-buying journey, what other features should you consider in a mortgage? What are the pros and cons? And why does your lender offer them in the first place?

May home loans snapshot lenders quietly cutting fixed rate home loans

May home loans snapshot: Lenders quietly cutting fixed rate home loans

The Reserve Bank’s relentless rate hike campaign — which commenced in May last year and has brought the cash rate to its highest level since 2012 — paused last month. Giving homeowners a temporary reprise from watching their monthly mortgage repayments increase.

May 2023 financial checklist

May 2023 Financial Checklist

May is here – which means that winter is near! And Mother’s Day and the new financial year are just around the corner. Here’s your favourite Financial Checklist to help get you through: May 2023 edition.

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