News archive for March 2024

March 2024

Australias best savings term deposits and bank accounts unveiled

Australia's Best Savings, Term Deposits and Bank Accounts Unveiled

You work hard for your money and it should work just as hard for you! That’s why, each year Mozo’s team of money experts assess and evaluate every savings account, term deposit and everyday bank account in our database to determine the best value options for Australians.

Mortgage shake up meet the lenders taking on the big banks

Mortgage shake-up! Meet the lenders taking on the big banks

With the RBA cutting rates for the second time in this year, and many of Australia’s home lenders following suit, now is a good time to compare your home loan to see where your loan rate stacks up against the market.

Westpac credit card interest rates on the rise

Westpac credit card interest rates on the rise

Westpac has just announced that it will be increasing the interest rates on several of its credit card products from the 20th of June 2024. The changes will impact both new and existing customers, with increases to both purchase and cash advance rates on several Westpac credit card products.

How to save money fast

How to save money fast

Have you found your savings pool exhausted? Building up your cash pile fast can be a bit difficult when economic times are tough. But what strategies can you take beyond just getting a promotion?

Are smaller banks offering the best 1 year term deposits

Are smaller banks offering the best 1-year Term Deposits?

Getting the best interest rate for your cash often means shopping around for providers who are offering the best rates. While it can be tempting to lock in the longest rate possible with a Alex.Bank - Term Deposit (invitation only)

New vehicle efficiency standards

Australia shifts gears with New Vehicle Efficiency Standards

In an effort to reduce emissions and fuel consumption, Australia is set to introduce the New Vehicle Efficiency Standard (NVES) from 1 January 2025. This move aims to lower the nation’s carbon footprint and make driving more cost-effective by ensuring that the mix of new vehicles sold in Australia meets specific, increasingly stringent CO2 emissions targets.

How does bank of sydneys 500 pa 1 year rate compare

How does Bank of Sydney’s 5.00% p.a 1-year rate compare?

Since the RBA started holding rates at the end of last year, term deposit providers have made small downward revisions to rates. As rate cuts are on the cards for later this year, longer term rates have seen the biggest cuts. However, there are still some great short term rates that might be worth parking your cash for.

Articles

Australia's rental crisis: a one-two punch

Australia's rental scene just got a bit more dire according to PropTrack, whose Market Insight Report released today unveiled that the national rental vacancy rate dropped to a record low of 1.07% in February*.

Banks offering 5 pa interest on savings accounts

Banks offering 5% p.a. interest on savings accounts

With the cash rate currently standing at 4.35%, some savings account providers have brought rates on offer up to and even over 5.00% p.a. This means that, while rates remain high, savers can see their cash earn them a fair amount if they get the highest rates possible.

Using a short term personal loan to pay for home renovations

Using a short-term personal loan to pay for home renovations

Got a short-term home reno project in the works? Whether you’re redoing the tiles in the bathroom or upgrading your kitchen benchtop, a personal loan can be useful for a quick and relatively simple finance option to fund tweaks around the house.

Articles

5 low cost activities to do on the school holidays

The April school holidays are right around the corner which means your kids will be home for two whole weeks. If you’re out of ideas on how to keep them occupied during the holiday period, fear not! We have some creative, low budget (or free) activities that will keep the kids pumped with excitement and help you create some great memories along the way.

Money management skills 6 ways to help you save

Money management skills: 6 ways to help you save

NAB did some research on financial literacy last year and found that while many people were confident of their money know-how, one-quarter of Aussies didn’t have enough for an emergency.

Articles

5 Travel Insurance essentials to consider this Easter

Easter, much like many other holidays, is a time for travel and exploration. But with travel comes the essential addition of travel insurance, particularly when you’re heading abroad. But just what should you consider when it comes to travel insurance?

Super returns and satisfaction

Super funds are on the rise and everyone's noticing

February brought a win for super funds and their members, with SuperRatings reporting a solid 1.8% increase for the median balanced option. This boost isn't just for the month; it's part of a bigger trend that's seen a 6.7% rise over the first eight months of the financial year.

How much should you start a term deposit with

How much should you start a term deposit with?

Term deposits are a simple and easy way of earning interest on cash. However, knowing the right amount to first lock up can be a bit difficult. Part of this, is that you generally can’t withdraw money from term deposits the way you can with a savings account.

Insurance financial abuse

Insurance products need redesigned to be abuse-proof, says CWES

A new report from the Centre for Women’s Economic Safety (CWES) is tackling domestic violence from an unexpected angle: the insurance industry. The report suggests that by redesigning insurance products, we can provide a new layer of protection for women against financial abuse, a subtle yet damaging aspect of domestic violence.

Family finances

4 simple ways to celebrate Easter on the cheap

With Easter on the horizon, it’s all too simple to start spending mindlessly when it comes to prepping food, gifts and entertainment for the big day. On top of that, the rising cost of living can make your usual celebrations that tad bit more expensive.

How much do you need to deposit to get the best savings rate

How much do you need to deposit to get the best savings rate?

Most of the highest rate savings accounts are bonus rates, meaning that you must fulfil certain conditions to get the highest rate possible. One of the common requirements is to contribute a certain amount of cash monthly. While this amount isn’t the same across all accounts, there are some commonly offered monthly deposit conditions.

March 2024 financial checklist

March 2024 Financial Checklist

So long summer – hello autumn! From International Women's Day to Easter and everything in between, March is set to be a busy month. Luckily for you, your fave financial checklist is here to help get you through!

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