Do Aussies have time to compare home loans?

Tuesday 17 November 2009

Article by Mozo

Effective short-cuts such as comparing home loans and credit cards may be more useful than ever for Aussies right now, as it appears they are working more overtime than the hours they receive as annual leave.

According to a study by the Australia Institute and reported by the Age newspaper, staff clock up 44 hours weekly – the highest in the western world.

In total, some 1.16 million new jobs have not been made available thanks to overtime covered by existing workers. The researchers said this means a whopping $72 million in taxable income has never been generated.

The figures could also suggest that, eager to capitalise on any extra income, Aussies are pushing themselves to earn as much as they can during the economic downturn.

However, executive director of the institute Richard Denniss said overtime is an issue that needs discussing and the government should address it.

Those who find they have money to spend but a lack of time to do it in may want to think about comparing credit cards and other financial products to get a clear and quick picture of which is the most suitable.

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