First Home Super Saver cap increase, budget-friendly kids parties & cheap home renos: This week’s best banking news

First Home Super Saver cap increase, budget-friendly kids parties & cheap home renos: This week’s best banking news
  • First Home Super Saver cap to be increased
  • January credit card spending takes a hit
  • 5 tips for a budget-friendly kids party
  • The cost of running an electric vehicle running in 2022
  • The Mozo Team's tips for renovating on a budget
  • Australian travel to Bali: What to consider when taking out a holiday loan

All in this week’s best banking news recap: editor’s pick.

First Home Super Saver cap to be increased

Following the passing of legislation last week, it appears the maximum amount of superannuation that Aussie first home buyers can use to buy their first home will soon be increased by a sturdy $20,000.

From 1 July 2022, first home buyers will have access to up to $50,000 (previously capped at $30,000) worth of voluntary contributions via the First Home Super Saver Scheme.

Read the full article: First Home Super Saver cap to be increased to help Aussies save a deposit for more information.

January spending takes a hit, but things are looking up for 2022

Despite record credit card spending in late 2021, the CommBank Household Spending Intentions Index dropped by 10% in January 2022. The most significant declines were in credit card and debit card spending on retail, entertainment and household services.

The Index is generated using a combined analysis of CBA payments data (Australia’s largest consumer spending data set, which covers roughly 40% of payment transactions) and loan application information.

Read the full article: January spending takes a hit, but things are looking up for 2022 for the details.

5 tips for a budget-friendly kids party

5 tips for a budget-friendly kids party

Lolly bags, party pies, piñatas - oh my! Planning a kids party will make you want to cry!

Planning a party is no easy feat. With so many expenses to consider, it can be easy to go overboard and break the budget.

So, if you want to keep your sanity and prevent any more grey hairs, then be sure to check out our five tips for a budget-friendly kids party.

Read the full article: 5 tips for a budget-friendly kids party for your ultimate party-planning guide.

The cost of running an electric vehicle in 2022

A 2022 Carmichael Centre report has revealed that over two-thirds of Aussies want the federal government to do more to increase the usage of electric vehicles (EV) in Australia.

With a strong focus on environmental concerns, nearly three-quarters of Aussies believe a reduction in CO2 emissions from internal combustion engine vehicles (ICE) would be effective in the fight against climate change. 

Read the full article: What does it cost to keep an electric vehicle running in 2022? for the full scoop.

The Mozo Team's tips for renovating on a budget

The Mozo Team's tips for renovating on a budget

There’s nothing like a few home improvements to help spruce up your space. And contrary to popular belief, home renovations don’t have to cost a fortune.

Some of our Mozonians shared their home reno experiences plus tonnes of top tips on how to do so without blowing your budget.

Read the full article: The Mozo Team's tips for renovating on a budget for all the goss!

Australian travel to Bali: What to consider when taking out a holiday loan

After a long two and a bit years of going in and out of lockdowns, Australians can finally jet set off to the ultimate Aussie holiday destination … Bali!

In 2019 (before the pandemic), a whopping 1.2 million Aussies travelled to Bali - that’s more than any other nationality in the world! So you can bet that plenty of Aussies will be eager to book another trip. But it’s not going to fund itself!

Read full article: Australian travel to Bali: What to consider when taking out a holiday loan for a rundown on some of the different finance options available to help fund your next trip.

On the hunt for a personal loan to help fund an upcoming trip, home reno or other big expense? Start comparing options now with our free personal loan comparison tool below:

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