Battle of the sexes continues in Australia

Gender equality is a closer goal than it might have been decades ago, but remains a hot topic with divergent statistics in areas like education, work, health and lifestyle, according to recent data from the Australian Bureau of Statistics (ABS).

In regards to health, women reported higher levels of psychological stress and were less likely to lead an active lifestyle, although sedentary or low exercise levels were high in both genders - 69% of women and 61% of men.

Men were still more likely to be obese (71% compared to 56% of women) and more than twice as likely to consume harmful amounts of alcohol (24% compared with only 9%). Mozo’s vice calculator shows it could be costing them more than their health, with even a $25 a week alcohol habit potentially costing $1,300 each year.

RELATED: 5 practical steps for women who want to take control of their finances

Divergent attitudes also emerged between genders in the choices young Australians made in regards to education after school. Lisa Conolly, Director of Family and Community Statistics at the ABS said that 34% of women aged 18-24 were studying for a Bachelor Degree or higher, as opposed to 28% of men in the same age bracket. Men were more likely to study for a Certificate III or IV qualification (9.5% compared to 6% of women).

Slightly less women than men were employed or studying full time, however, with 29.5% of women aged 20-24 either working or studying part-time or not at all, as opposed to 23.4% of men.

Despite this, Conolly said there was a gradual trend toward more women occupying leadership positions in the workforce. "Women held 41% of senior executive roles and just under 48% of executive level roles in the APS in 2015," she said.

Even so, men were more likely to have paid leave entitlements, with only one in ten men from employed couples with children missing out, as opposed to one in five women. For employed single mothers, it was even worse, with over a quarter having no paid leave.

On the other hand, men were more likely to have a mortgage - 28.1% of women owned their own home outright, while just 25% of men did. That still leaves many Aussies of both genders tackling mortgage repayments each month, and Mozo recommends reviewing home loans on a regular basis, to ensure homeowners are getting the best possible deal.

For example, a homeowner with a $300,000 loan paid back over 25 years could save $40,600 by switching from the average big four home loan rate of 4.78% to Mozo’s Mystery Bank Deal with a rate of just 3.98%.

To find how much you could be saving on your mortgage, check out our handy switch and save calculator.

Home loan comparisons on Mozo - rates updated daily

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  • placeholder
    Mozo Experts Choice 2021
    Smart Booster Home Loan

    1 Year Discounted Variable Rate, Owner Occupier, Principal & Interest, <80% LVR

    interest rate
    comparison rate
    Initial monthly repayment
    1.99% p.a.variable for 12 months and then 2.48% p.a. variable
    2.47% p.a.

    A super low introductory rate home loan with no monthly or ongoing fees. Unlimited free redraws and unlimited additional repayments to help you build your equity and own your home sooner. Multiple loan splits available. (Rates revert after introductory period ends). 20% minimum deposit required. Winner of two Mozo Expert's Choice Award for 2021.

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    Details
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    UHomeLoan

    Owner Occupier, Principal & Interest

    interest rate
    comparison rate
    Initial monthly repayment
    1.75% p.a.
    fixed 3 years
    2.22% p.a.

    $0 fees and easy application. Choose between weekly, fortnightly or monthly repayments. 3 year fixed rates are for new Owner Occupier Principal & Interest loans.

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    Details
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    Basic Home Loan

    Fixed, Owner Occupier, Principal & Interest, LVR<70%

    interest rate
    comparison rate
    Initial monthly repayment
    2.09% p.a.
    fixed 3 years
    2.43% p.a.

    Get a flexible loan structure with up to six loan accounts with different rate types. Make free extra repayments. Enjoy free redraw facility. No upfront or ongoing fees. Option to earn Qantas points.

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    Details
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    Mozo Experts Choice 2021
    Celebrate Variable Home Loan

    <60% LVR, Owner Occupier, Principal & Interest

    interest rate
    comparison rate
    Initial monthly repayment
    2.19% p.a. variable
    2.19% p.a.

    Fast and efficient online application. Automatic discounts as loan is paid off. Free extra repayments and redraw facility. Zero fees to consider. Min 40% deposit required. Winner of three Mozo Expert's Choice Award for 2021.

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    Fixed Home Loan

    Owner Occupier, Principal & Interest

    interest rate
    comparison rate
    Initial monthly repayment
    1.89% p.a.
    fixed 2 years
    2.15% p.a.

    Award-winning low rate home loan that could save you thousands. No application or ongoing fees, fee-free redraws, unlimited additional repayments and an optional offset account for $10/month. Minimum 10% deposit. Winner of Mozo’s Experts Choice Award for Online Home Lender of the Year 2021.^

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*WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

**Initial monthly repayment figures are estimates only, based on the advertised rate, loan amount and term entered. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.

^See information about the Mozo Experts Choice Home Loans Awards

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