News Archive for February 2024

February 2024

Money mantras to manifest this month

4 March money mantras to manifest this month

The power of the mind is an amazing thing, and whether you believe in manifestation or not, there is impressive power behind your thoughts. Have you ever stopped to think how your thoughts influence the way you feel and act? The reality is; the way we think about something has a massive impact on our emotions and actions.

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Family finances

5 fierce money lessons from celebrity women

Businesswomen? More like business-weapons. These ladies have been hitting goals left, right, and centre in the last year, from making scarily successful movies and running a drag queen empire to inheriting the literal title of Queen. What can we learn from their success?

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Which savings accounts changed rates

Which Savings Accounts changed rates in February 2024?

In March, the Reserve Bank of Australia (RBA) continued to hold the cash rate at 4.35%. Of course, with many economists also believing that we’re coming out the other end of the steepest rate climb we’ve seen, many banks have also been revising their relatively high savings interest rates down.

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Ubank launches new bill paying account

ubank launches new bill paying account

It’s not often we see a new trend in bank accounts, but this could be one to watch. Ubank, Australia’s first homegrown digital bank, has just launched its new Bills Account.

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Can you still get a good rate on a 5 year term deposit

Can you still get a good rate on a 5-year term deposit?

Interest rates had some of their steepest growth in the past two years, with term deposits ending up with some pretty high rates. However, with the RBA holding rates for the past few months and CPI inflation slowing, many economists are predicting rate cuts for later in the year.

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Insurance complaints and solutions

Here's how insurance companies can address consumers' biggest concerns

Insurance often finds itself at the centre of frustration when it comes to finances. In fact, a recent report by the Australian Financial Complaints Authority (AFCA) shows that comprehensive car insurance and home insurance are high on the list of consumer grievances, only surpassed by credit cards and personal transaction accounts.

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How to open kids and youth high interest savings accounts

How to open kids and youth high interest savings accounts

Signing your kids up to a high interest savings account can be a great way of getting them started on their saving journey. Not only do they get a good idea about how to manage their money but they also discover the rewards from a high interest rate savings account.

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Can term deposits be a source of income

Can term deposits be a source of income?

Generating a steady income stream is a priority for a lot of us, especially for those looking to supplement their earnings or secure a stable cash flow in retirement. Term deposits offer a reliable and predictable way to earn income.

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Articles

10 things that could change your mind about term deposits

During the depths of the pandemic, when interest rates hit an all-time low, locking your cash up with a term deposit for a long time wasn’t the most advantageous move. However, with a rapid increase in interest rates over 2023 and following holds in the past few months, term deposits may be in a position to earn some good interest for a while.

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Apra quarterly product stats sept 23

Navigating APRA's super data: A guide to informed choices

The Australian Prudential Regulation Authority (APRA) has just released its Quarterly Superannuation Product Statistics for the quarter ending September 2023, providing essential data on the performance of thousands of individual superannuation products across hundreds of funds.

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Boost your wealth in 2024 with these 5 money resolutions

Boost your wealth in 2024 with these 5 money resolutions

We’re already in the second month of 2024, but that doesn’t mean it's too late to set resolutions. In fact, setting or reviewing your financial goals can be a helpful exercise, whether you're looking to save more, invest wisely, or simply manage your finances better.

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Koba announces ev car insurance

KOBA to launch Australia’s first dedicated EV insurance policy

Just as we predicted, March 2024 is big news for EV owners in Australia, with KOBA set to launch the country's first dedicated EV insurance policy next month. This is a game-changer, because it means that EV owners will no longer be shoehorned into car insurance policies that weren’t necessarily designed with their specific needs in mind.

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Fuel excise increase feb 2024

Automatic fuel excise adjustment couldn’t come at a worse time

In a recent adjustment that underscores the ongoing cost-of-living challenges, the Australian fuel excise has increased, pushing petrol prices higher once again. This change is part of the government's routine practice of adjusting the excise in line with the Consumer Price Index (CPI), a review that occurs biannually.

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Stressed about money here are a few ways to keep calm and save

Stressed about money? Here are a few ways to keep calm and save

Financial stress has been bearing down on everyday Aussies since the start of the cost-of-living crisis began. In fact, recently released data from Industry super fund Aware Super has found that 86% of Australians have gone into 2024 worried about the effect of the cost-of-living crisis.

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Nab and anz change term deposit rates after rba holds

NAB and ANZ change term deposit rates after RBA holds

After the Reserve Bank of Australia's (RBA) recent decision to hold rates amidst slowing inflation, NAB and ANZ have adjusted a few of their term deposit rates. This also comes when most economists (including those at the big banks) think that rate cuts are likely later this year.

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February 2024 financial checklist

February 2024 Financial Checklist

The final month of summer is upon us! Which means there’s a lot to cover in this month’s checklist. From budget Valentine’s Day date ideas to back-to-school shopping tips, here’s everything you’ll need to get through the month ahead.

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Top home loans round up

Top home loans round-up: April 2024

Home loan repayments are likely your biggest regular expense, so every cent that you can save on your home loan is more money for you. If you are looking to purchase property this year, or refinance an existing home loan, you’ll want to be in the know where you can get low home loan rates and secure a great value deal.

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Insurance prices skyrocket in 2023

Rising tides, rising costs: insurance premiums skyrocket in 2023

Insurance prices have seen their sharpest rise since March 2001, as indicated by the latest ABS Consumer Price Index (CPI). The 16.2% surge in insurance prices in the year leading up to December 2023 is almost four times greater than the overall rate of inflation, which stands at 4.1% for the same period.

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