News Archive for January 2024

As we cruise into 2024, the Australian car insurance landscape is shifting gears, driven by technological innovation and always-evolving consumer needs. So hop into the passenger seat as we take you on a journey though some of the major car insurance trends we expect to see in 2024!

Kicking off the new year with a new home seems to be a popular choice among Australians, with January being the most popular month for moving house according to new research from Budget Direct.

In a recent ABC interview with David Iliffe, Australian Prime Minister Anthony Albanese hinted at the creation of a new cyclone industry recovery and resilience program and a potential new standing reserve body to assist in disaster response alongside the ADF and other emergency services.

The last two years have been chaotic ones for home loan interest rates. Between May 2022 and November 2023, the official cash rate jumped a staggering 4.25%, bringing average home loan rates up by almost the same amount in the Mozo database.

2024 is shaping up to be a fascinating year for car insurance, with different players using different strategies to capture the attention of drivers across Australia. What strategy will win out?

Another year, another look at the Reserve Bank of Australia (RBA). The last two years have seen a crusade against inflation from the central bank, adding 4.25% to the cash rate between May 2022 and December 2023.

Looking for a new savings account? Interest rates aren’t the only thing you’ll want to check. Our lives have become increasingly more digital and savings accounts are no different.

Bank accounts have become a standard part of our everyday life. Because of this, it’s important to make sure that your provider is offering an account that works for your needs.

Macquarie has once more proved why its home loans remain some of the most competitive on the market – at least for home loan interest rates.

Considering switching to an electric vehicle in 2024? In Australia, we’re seeing an increasing number of electric and hybrid cars on the roads. So if you thought that Tesla was your only option, think again.

In the wake of Tropical Cyclone Kirrily's impact on North Queensland, Commonwealth Bank is stepping up with a vital Emergency Assistance package for those in the affected communities.

Keen social media users will have heard of ‘loud budgeting’ - a new financial strategy where you share your money aspirations out loud with the people in your life.

Many of us love to spoil our pets with new toys and treats, but new research from CommBank shows that some generations take their fur babies' wellbeing to new heights.

This week’s edition of Mozo Money Moves is coming to you a day early, due to the public holiday tomorrow, and despite the fact that January is a notoriously quiet month for interest rate moves, there seems to be a few trends emerging.

While parents across the country are preparing to kick up their heels (or head back to work) and farewell their kids to another school year, they’ll still have to face the morning rush of getting everyone out the door on time with all the food they need for the day.

With Cyclone Kirrily on track to hit Queensland this week, residents are bracing for another major weather event, all too soon after being battered by Cyclone Jasper. Strong winds and widespread flooding are among the expected threats, prompting cautious preparations across the state.

The 'Bank of Mum and Dad' really took off in 2021, when the data showed spiking property prices were being met with a significant financial boost from Aussie parents.

We all have savings goals. Some goals are usually short-term like saving up for a holiday, others are longer term like buying a car or saving for a house deposit.

The Australian property market has fully recovered from the 2022 downturn, reports Domain.

Who needs toys for the grandkids when you can splurge on designer collars and gourmet treats for your four-legged companions? According to a fascinating study by insurance house Australian Seniors, 28% of Aussie pet parents over 50 have made a surprising admission: they're spending more on their pets than on their own kids and grandkids.

If you have a major expense to tackle such as a home renovation, a car or even a wedding, a loan from the bank can help.

As 2024 gets going, you might be thinking about adopting a "savings mindset". Well, it might just be that actions speak louder than words, folks.

A share rally in the final quarter of the 2023 calendar year helped propel Australian superannuation funds to notable year-end gains, with the median Balanced and Growth options delivering impressive returns of 9.6% and 11.0%, respectively.

Welcome back to Mozo Money Moves, your weekly snapshot of the latest banking news and interest rate moves in personal finance.

Car insurance, an industry often seen as stable and predictable, is experiencing a quiet revolution with the emergence of 'pay as you drive' (PAYD) policies. A form of usage-Based Insurance (UBI), PAYD suggests a straightforward concept: your insurance costs align directly with your actual driving distance.

First home buyer activity roared back to life by the end of 2023, after a comparatively slow start to the year, and a 2022 riddled with aggressive cash rate hikes and rising inflation.

After seeing a meteoric climb in interest rates, the RBA ended last year with a Christmas rate hold. Now many economists predict that the official rate is likely to come down in the second half of 2024.

The Australian Competition & Consumer Commission (ACCC) has announced a staggering 28,000 consumer guarantee issues were raised in 2023, stressing that when it comes to refunds and warranties, Australian consumers may be entitled to more than they think.

Switching savings accounts can be a strategic move in personal finance management. The decision to switch should be based on several factors that align with your financial goals and changing economic environment.

In today's inflation-driven, expensive world, many Australians are finding that their primary income may not be enough to cover all their bills, let alone have a little spare coin for the fun things in life. That's where a side hustle could step in to make the everyday a little easier and the fun things attainable.

If you’re looking to get into the property market in 2024, a question you’ll have to ask when you compare home loans is whether to go with one of the bigger banks or a smaller lender.

Welcome to the first edition of Mozo Money Moves for 2024. This weekly snapshot rounds up the latest in banking and interest rate news, sharing any key banking and rate changes in personal finance.

NAB has a well-being index that tells us quite a bit about how much Aussies want to save, matched up against how much they actually stash away, on average.

With many of us trying to work off festive season indulgences, January marks a time of change. The intention, at least, is to start the new year by getting into better shape. This can include rethinking how we manage our money, too.

For many Australians, repaying a home loan is one of the most expensive yet important things they do. For first-home buyers, a mortgage invests in their future and housing security. For investors, it’s a nest egg and income stream.

Whether you’re at the stage of working out how much you can afford or you’re ready to compare home loans, it never hurts to have some expert tips at your disposal – especially if you’re unsure about how to buy your first home.

Heading into 2024, the home insurance market in Australia is undergoing some exciting changes. This year brings a blend of technological innovation and a stronger focus on climate resilience, reshaping the way Australians protect their homes.

Australia’s biggest home loan lenders just got a little bit smaller.

We are all looking for ways to save money where we can, so it helps to know if there are any government or industry changes that might mean a win for you in 2024, and also be prepared for the ones that are not.

Hello 2024, how are you? We’re two days into the New Year and not much has changed in property and home loans since last year – but last year still brings us changes, nonetheless.