News archive for June 2024

It’s a competitive home loan market out there and with property prices at an all time high, it only makes sense to find a home loan that offers more than just your standard features.

With inflation at an all time high and the cost of living having a choke-hold on many Australian families, it’s time to think smarter when it comes to making your money work harder for you. So what better time to boost your savings interest rate with a few smart moves that could triple your returns?

Whether you’ve got your eye on a new electric car model, a family sedan or your dream sports car, the end of financial year (EOFY) is now just around the corner and that means it’s time for EOFY car sales.

Welcome back to Mozo Money Moves, our weekly wrap where we dive into Australia's banking landscape, and bring you the latest in personal finance news.

The number of Australians falling behind on their home loans has reached its highest level since March 2021, according to CoreLogic.

Home prices in Australia are forecast to continue rising over the next 12 months and lead to a ‘reshaping’ of how we see the Australian dream, Domain’s chief of research and economics, Dr Nicola Powell told Mozo.

At Mozo, we love finding new ways to save money, and groceries are one of the easiest places to start. We asked our team for their best money-saving tips for grocery shopping, and they delivered some fantastic hacks.

As the Reserve Bank of Australia (RBA) holds the cash rate steady at 4.35%, new Mozo analysis reveals a surprising twist in the savings landscape.

When designing insurance for specific age demographics - like P platers or seniors - many car insurance companies seem to take a pretty generic approach: take a standard policy, tweak a few features around the edges, and rebadge it as a brand new targeted product.

Winter school holidays are a great opportunity for families to create lasting memories and enjoy quality time together, even if you're on a budget.

I recently did a cost vs. savings check, which hit harder than an opening State Of Origin tackle!

Great news for Australians managing their budgets, as S&P Global predicts a slowdown in the rise of insurance premiums .

Welcome back to another edition of Mozo Money Moves, where we wrap up the week that was in personal finance and call out any interesting rate changes flying under the radar.

Tax time is upon us, and for many Aussies, it's an opportunity to make the most of the money coming back to you. Whether you’re receiving a sizable chunk or just a modest return, there are clever and easy ways to maximise your tax refund and set yourself up for financial success.

If you have a good portion of cash, say $2,000, it might be time to look for a high interest savings account.

The Reserve Bank of Australia (RBA) continues its cash rate freeze as it works to assess the petering-out of inflation across the nation.

The Albanese government has announced new measures to help Australians get better rates on their home loans and savings accounts.

This edition of Mozo Money Moves comes as we prepare for the next cash rate decision from Australia’s central bank, the Reserve Bank of Australia (RBA).

With rates still high but possible cuts at the start of next year, savers will have to make a choice between short and long term interest rates.

Around the world the cuts have begun. The European Central Bank (ECB) last week announced a 25 basis-point cut after the central bank’s June meeting, but the US Federal Reserve hasn’t followed suit, leaving its rate unchanged.

They say teamwork makes the dream work. But it's now clearer than ever that the platitude applies to the Australian dream of homeownership, too.

You’ve no doubt seen all sorts of things on sale at your local Aldi supermarket, especially in the middle aisle, from night vision goggles to industrial meat slicers. So, is it any surprise that you can now buy insurance from Australia’s third-largest grocery retailer ?

Rabobank's High Interest Saver currently offers a bonus rate of 5.75% p.a. for the first 4 months, making it the highest savings interest rate in the Mozo database as of June.

Essential workers have access to the lowest variable home loan rate in the Mozo database this month from G&C Mutual Bank, with an interest rate of 5.80% p.a. (5.83% p.a. comparison rate*).

Customer owned Greater Bank made cuts to its Great Rate Fixed Home Loan product, its lowest rate starting at 5.79% p.a. (7.26% p.a. comparison rate*) for 3 years (OO, P&I, $400k, <80% LVR).

Achieving financial stability in your 20s and 30s can set the stage for a secure and prosperous future. These are crucial years for building habits that will benefit you throughout your life.

The average price of residential homes across Australia rose by $14,300 to $959,300 in the March quarter, according to the latest figures from the Australian Bureau of Statistics (ABS).

This week’s bumper edition of Mozo Money Moves dives into the latest Lending Indicators data and Mozo's latest research report, The Cost of Connectivity: Why it pays to shop around.

Qudos Bank has cut rates on its No Frills Home Loan (Owner Occupier, Principal & Interest), bringing it under 6% p.a.

A low headline rate from a Big Four bank is bound to turn heads. But is CommBank’s new Digi Home Loan more than just a pretty face?

MOVE Bank is the latest lender to offer sub 7% rates on secured car loans for new vehicles.

The AFR recently ran an article titled, "'It’s my money' attitude leading to illegal super withdrawals," followed by the subtitle, "Early release of super is only supposed to be allowed as a last resort. So why are so many people being approved to use it for dental work?"

In today's expensive and fast-paced world, finding additional streams of income can be a game-changer. Whether you're looking to grow your savings, pay off debt, or just have some extra cash to enjoy, there are plenty of ways to make money without a full-time job. From the convenience of your home to opportunities around your community, here are 10 simple ways to boost your income both online and offline.

More than half (54%) of Millennials say they are likely to experience financial hardship in the next 12 months, which is far more likely than their older generation counterparts (Gen X 39% and Baby Boomers 31%), says ASIC’s Moneysmart in a new report .

Brrr! It’s time to pull out those woolly jumpers, folks! June has arrived, which means winter is officially here! With a change of seasons, the end of the financial year and school holidays, June’s set to be a mammoth month!