News Archive for April 2024

One of the easiest ways you can maximise your money is by signing up to a high interest savings account, yet the latest survey data from Mozo reveals that Aussies have their head in the sand with a whopping 69% saying they have never switched savings accounts.

If you’ve got some savings that you want to put aside for a rainy day, now might be a good time to consider a term deposit.

If you are one of the 1.22 million active online investors* or plan to join their ranks in 2024, a recent number crunch by Mozo’s research team for the annual Mozo Experts Choice Online Share Trading Awards^ reveals that when it comes to brokerage costs it pays to shop around.

New research from Mozo for the 2024 Home Loan Report discovered that a startling percentage of mortgage holders think refinancing isn’t worth the effort when it could save them tens of thousands.

Millennials and Gen Z are struggling the most to achieve their savings goals, despite being the most-likely age groups to set them according to data published in the 2024 Mozo SOS Savings Report.

Released this week, the Domain House Price Report 2024 announced a new record for the median house price in Australia’s combined capital cities – $1,112,575 – after a year-on-year (YOY) gain of 8.9% in March 2024.

Welcome back to another edition of Mozo Money Moves, your weekly wrap where we look at the latest news in banking, and key changes to personal finance products, interest rates, fees and conditions.

1 in 6 Aussies say they’ve never changed savings accounts “because it’s too much effort”, but a new report from Mozo has found that those of us who haven’t bothered switching are lagging behind with the lowest interest rates.

A new study from share trading platform, moomoo, reveals almost half (48%) of Aussies ages 28 to 42 prioritise leisure spending above saving for a home deposit.

MyState Bank has upped the interest rate of its 7 month term deposit rate by 1.50% p.a today to 5.00% p.a.

If you’re gearing up for overseas travel to escape the Australian winter, adding a payment method to your daypack is essential.

Welcome back to another edition of Mozo Money Moves, your weekly banking wrap where we look at key changes to personal finance products, and review what’s been happening to interest rates, fees and conditions.

Super funds have been on a positive trajectory, with March marking yet another month of strong performance.

Small businesses are the unsung heroes of the Aussie economy. They’re everywhere, from your favourite coffee shop that knows your order by heart, to the local tech start-up making life a bit easier with their latest app.

NAB is the first of the Big Four banks to drop interest rates on select home loans this year, with a cut of up to 1.08% now available on some of its variable home loans.

A report by investment firm Challenger has put into numbers what many of us have suspected all along: happiness in retirement relies in large part upon being financially secure. While physical health is the number one priority, financial stability is not far behind, especially in today’s economic climate.

Australian homeowners could be sitting on the opportunity to blast their home loans with a shrink-ray after national home prices rose nearly 40% in just four years.

Welcome back to another edition of Mozo Money Moves, your weekly banking wrap where we look at key changes to personal finance products, and review what’s been happening to interest rates, fees and conditions.

There are several things people think about when planning for a holiday: where they want to go, what they want to see, how much it will cost, and what kind of travel insurance they need.

Buying a home can have pitfalls and perhaps the biggest is misreading the property’s value. If you misread value, you’re likely to over pay and your home loan can end up being much bigger than it should be.

From today, CommBank’s fully digital home loan, the Unloan Variable, scraps its refinance-only rule and opens its books to new borrowers.

For Australian small businesses looking to reach new markets, drive customer growth and enhance their competitiveness, global expansion is a proven way to unlock potential and remain resilient. But venturing beyond domestic boundaries can pose its own set of challenges.

New Mozo research reveals an increasing reliance on credit cards to pay off Buy Now, Pay Later (BNPL) debts among Australian consumers.

Welcome back to Mozo Money Moves, your weekly banking wrap where we look at what’s been happening to interest rates, fees and conditions to key personal finance products.

The first quarter of the year has already flown by, and it's a good time to take stock of your financial progress. Did you manage to stick to your savings plan, or did unexpected expenses and financial challenges derail your goals?

A pinch and a punch for the first day of the month – April is here! And so’s your favourite monthly read. From preparing for tax time to planning for the school holidays, your April 2024 financial checklist is here to help get you through the month ahead.