News archive for May 2024

Today, the Reserve Bank of Australia (RBA) announced it will hold the cash rate in May 2024 at 4.35%.

Welcome back to another edition of Mozo Money Moves, where we dive into what’s been happening in the world of personal finance.

Getting a home loan approved is cause for celebration, as you’re one step closer to owning your home. It’s typically a nice conversation.

As the chill of winter sets in, many of us find ourselves reaching for the thermostat to keep warm. But with heating costs on the rise, it's essential to find ways to stay cosy without breaking the bank.

With the end of the financial year fast approaching, it's time to start thinking about getting your tax return in order. Whether you're a seasoned tax-filer or a first-timer,, navigating the EOFY process can be daunting. But fear not! We've compiled a list of top tips to help you get tax return-ready in an effort to maximise your refund this financial year.

Welcome back to another Money Moves, the weekly wrap of finance news.

Ahhh, savings goals.

In a world where the temptation to splurge is everywhere, it's easy to fall into the trap of 'spaving', aka - spending to save. While it may seem like a savvy strategy at first glance, this trend can quickly lead to financial pitfalls if not approached with caution.

In its recent report on harmful advice charges, the Australian Securities and Investments Commission (ASIC) recently revealed that a staggering $990 million in advice fees were charged across 476,000 superannuation accounts.*

Designing a comfortable retirement relies on various factors, including anticipating future needs, making adequate savings, and choosing the right super fund. Ultimately, you seek a fund that aligns with your investment values and offers good net returns after fees are factored in.

Welcome back to another Money Moves, the weekly wrap of finance news.

Australian homeowners are being bled dry by the highest interest rates in more than a decade, according to data from mortgage broker, Aussie.

Term deposits have reached some great levels in recent months. But, while it can be tempting to lock your savings away for some time, it’s possible that you can miss out on some rates that are actually highest in the short term.

When we spend as much time as we do using our mobile phones, iPads, laptops and other digital devices, you want to know that you’ve got a good mobile or internet deal to keep you connected.

Treasurer Jim Chalmers officially announced the 2024–25 federal budget on 14 May, but what’s in it for you?

Are you struggling with your EFTPOS machine like many other small businesses? Whether it's navigating tip reporting or waiting on delayed payments, it's clear that current solutions aren't hitting the mark.

After the Reserve Bank’s recent May meeting, it seems Australia's cash rate is going to hold at 4.35% a while longer.

Welcome back to another edition of Mozo Money Moves, the personal finance wrap-up of the week that was.

New analysis from Mozo reveals Australians are collectively paying an extra $3 billion per month to cover rising home loan repayments after the 13 cash rate hikes since May 2022.

It’s exciting times for Australian EV owners as KOBA officially launches its dedicated EV car insurance policy. The insurance marks a significant milestone for the EV community, and while it’s only available for Tesla’s now, it’s set to expand to other models soon.

This week, Mozo released its April edition of the Mozo Banking Roundup, which looked at the trends and rate moves across key personal finance products over the past month.

With the Consumer Price Index (CPI) coming in hotter on inflation than economists expected this quarter, doubts about a cash rate cut by year’s end are mounting.

It’s May! As we quickly approach the middle of the year (where has the time gone?!), now’s an excellent opportunity to review our financial goals for the rest of the year.