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We’ve crunched the numbers, read the fine print and researched hundreds of products. Penned by Mozo’s team of money experts, our banking guides help you uncover smart ways to save and get a better deal on your finances.
It’s now been well over a year since the Reserve Bank’s last cash rate cut and the flood of home loan cuts that followed, yet instead of relative rate stability, lenders seem to be making as many changes as ever.
After a long period of COVID restriction, it seems that Aussies are planning to go all-out this Christmas season. According to Citi research, 25% of Aussies plan to spend more than they did last year, believing that everyone deserves to be spoiled after a difficult year.
Emerging from our Covid lockdown cocoons has been a joyful affair for many. Far flung friends and family have been reunited, we’ve tamed unruly locks at the hairdressers, and even begun booking holidays.
Unlike a home loan, which is designed for the purchase of a ‘home’, personal loans are more than a one trick pony. In fact, there are a range of situations where different types of personal loans could come in handy - such as:
Over the last few months, more than a few term deposit providers have been increasing rates. In October alone Mozo’s research team counted 51 interest rate increases from 10 term deposit providers tracked in our database.**
It’s no secret that a car is something that will cost you the moment you drive out of the dealership (have you seen the price of petrol lately?). From regular costs like car loan repayments, fuel and tolls to you more-occasionals like tyres, rego and insurance and roadside assist - it all adds up. That’s where the latest stats from the Australian Automobile Association come in handy, as they break down the Australia-wide average of different car costs. According to the report, the average total transport cost for Aussies over the third quarter (Q3) of 2021 was $367.63 per week. That’s $6.99 greater than in the second quarter (Q2) of this year and makes up on average 15% of Australians’ total income. And, if you look at it from an annual cost perspective, it adds up to be $19,117 per year. While public transport is considered in the national total transport cost, it only makes up 6% of yearly transport costs overall, meaning the rest goes towards personal transportation costs (those associated with owning a vehicle) such as car loan repayments, fuel and repairs.
Mozo, Australia's money saving zone, helps you to start saving money by comparing retail banking products like home loans, insurance, savings accounts, credit cards and much more. If you want excellent money saving ideas, we have you covered.
Find out which financial products and services are the best for your situation. Whether you are a student looking for financial advice or a new home owner trying to choose the best loan - there is advice and tips on saving money on the Mozo that will make life easier for you.
Managing your money with Mozo
Money saving deals are everywhere but you need to know where to find them. Rather than trawling through all of the financial institutions' website, turn to Mozo, where you can find the right deals for you - that's the best way to save money when organising a new loan or term deposit. You could also join the Mozo community,
Need to know how much pocket money is a good amount for child? Or do you need advice on a particular loan decision? No matter how big or small your question Mozo's team of money experts will be able to answer your query.
Need some tips?
Saving money always sounds like a plausible plan, until that unexpected bill comes along! Good money management is a skill that everyone wants, but in reality they may find it hard to actually put into action.
Mozo offers an extensive catalogue of banking and financial reviews, blogs and feature money articles to help you learn how to manage your money. Our articles cover everything from getting a cash management account to exchanging foreign currency for your next big holiday. If you are after up-to-date money saving ideas, then check out these articles - they offer expert advice at the click of a mouse.
Use our banking tools to get your money sorted
If you need ways to help you manage your money you've come to the right place. The first step is to create a budget - our budget calculator can help you work out where you could trim back your expenses to bring your debts under control. Once you feel like you're in charge of your financing, use our savings calculator to start saving for the things you really want - or, if you're ready to make that next big step, use the home loan calculator to see if you're able to buy a house.
Doing things the easy way
These are easy ways to save money - getting advice from the experts and taking advantages of online calculators and searches to work out what the best way for you to save money is - and which financial institutions can provide the best product for you!
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