Lockdown looms again, billionaires set off to space & the new financial year begins: This week’s best banking news

Lockdown looms again, billionaires set off to space & the new financial year begins: This week’s best banking news
  • Aussies are back in lockdown
  • Top destinations for capital city defectors revealed
  • Kickstart the new financial year
  • Woolworths named Australia’s best online grocery delivery service in 2021
  • Billionaires set off to space
  • Home loan hardships continue during the pandemic

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

Aussies are back in lockdown

After what seemed like a more hopeful few months for the coronavirus climate in Australia, let’s just say anything can happen in a New York COVID-minute.

Over the past week, we’ve seen many Australian cities and regions go back into lockdown after a rapid spike in new COVID cases across the country due to the emergence of a new virus strain.

Read full article: Everything you need to know about Coronavirus and your finances to keep up with all the latest COVID changes.

Top destinations for capital city defectors revealed

New research finds that the number of Aussies looking for a change of scenery from the city has hit a record high during the COVID-19 pandemic. 

According to the inaugural Regional Movers Index Report from the Regional Australia Institute (RAI) and the Commonwealth Bank (CBA), population flow from capital cities to regional areas has gone up by 7% between the March 2020 quarter and the same period in 2021.

The report also found that the top destinations for city-slickers looking for a sea change were the Gold Coast (11%), the Sunshine Coast (6%) and Geelong (4%).

Read the full article: Gold Coast, Sunshine Coast and Geelong revealed as the top destinations for capital city defectors for a full report.

Kickstart the new financial year

July 2021 Financial Checklist

We’ve officially reached a new financial year. And after the past twelve months we’ve had - now’s the time to crack down and start things off on the right foot. 

Lucky for you our July 2021 is jam-packed with all the tips and tools to help get you started. 

In this month’s checklist:

  • Some valuable resources to help you tackle your tax return
  • Learn how to set some stellar savings goals
  • Rejig your finances to boost your savings
  • Watch some millennials make a fool of themselves
  • Consider the bigger picture this Cancer season

Read the full article: July Financial Checklist to help you start the new financial year right.

Woolworths named Australia’s best online grocery delivery service in 2021

If you weren’t an online grocery shopper before, then you might be following the COVID-19 pandemic. Not to mention, with many Aussies currently back in lockdown, now’s a great time to get on board.

But while you might have your fave in-store supermarket, finding the right online grocery store can be a whole different ball game. Lucky for you, our Mozo Experts have already checked out some options.

Woolworths was just crowned Australia’s best Online Grocery Service of the Year in the 2021 Mozo Experts Choice Awards for Online Grocery Service. So if you’re considering doing your next weekly shop from the couch, then Woolies could be the way to go!

Read the full article: Woolworths crowned Australia’s best online grocery delivery service in 2021 to hear all about it.

Billionaires set off to space

Billionaires set off to space

While many Aussie holiday plans have been put on pause due to the recent rise of COVID-19 cases, Amazon CEO, Jeff Bezos, is currently planning for his upcoming trip to outer space.

Though, it’ll only be a short journey - 11 minutes, to be exact! That’s right, billionaire Bezos and a few other wealthy eager space-travellers will be setting off to space in his company’s rocket.

You can hear your fave podcast hosts chat all about it in episode 32 of The Finance Burrito podcast.

Read the full article: Travel insurance in 2021 and why Jeff Bezos can’t get cover for his space odyssey to get the full scoop!

Home loan hardships continue during the pandemic

Despite many of the major banks announcing support packages for Aussies who’ve been financially impacted by the latest lockdown, Mozo research finds that some of these options could potentially lead to large sums of long-term debt.

By taking a 3-month mortgage holiday on a $400,000 owner-occupier principal and interest home loan, you‘d be adding $39 to your monthly repayments and $3,250 to your total loan amount.

Read the full article: Home Loan Hardships Continue During Pandemic - What Are Your Options? to find out more.

After a competitive home loan deal to help you buy your dream home? Use our handy home loan comparison tool to compare your options:

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    Variable Home Loan

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    Basic Home Loan

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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.

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