This week in banking news - Beem It, preparing for severe weather, millennial home ownership and solar for low income households trial

By Tara McCabe · · 3 min read
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  • Payments app Beem It launches two new exciting features.
  • The Bureau of Meteorology warns of more heatwaves and extreme weather events to come this summer.
  • Low income households in NSW given the chance to take part in trial solar installation.
  • New reports show that millennials are more focused on home ownership than ever.

All in this week's banking recap.

Payments app Beem It launches two new exciting features.

The payment app that allows you to split bills and make payments in just seconds, regardless of which bank you’re with, this week added two new features. The new features ‘Transfer’ and ‘Scheduled Payments’ allow customers to link more debit cards to the app and organise future, recurring payments.

As more and more Aussies switch from traditional cash payments to digital money transfers, there is no doubt that payment apps like Beem It will become more and more popular. Plus if you are thinking of downloading it, you’ll be happy to hear that it is available to use with any Australian Visa or Mastercard debit card.

Low income households in NSW could benefit from solar installation trial

Following on from that, a new government scheme could see low income households across New South Wales benefit from the new Solar For Low Income Households trial.

As part of the trial the NSW government plans to install 3 kilowatt solar systems in as many as 3,000 homes across selected regions of the state. This could be a great way for low income households to not only save money on energy bills, but also supply more renewable energy to the grid.

If you’re interested in applying and you think you might meet the criteria, you can apply for the scheme via the NSW government. Or if you aren’t quite eligible but you still want to do your bit for the planet, why not switch to a GreenPower plan. You can find out if there is a GreenPower plan in your area with Mozo’s nifty energy comparison tool.

Report shows that millennials are more focused on home ownership than ever

Speaking of investing in the future, a report released by Gateway Bank and Genworth Insurance this week, has revealed that more and more millennials are focused on owning their own home rather than renting.

According to the report a huge 94% of millennials now believe that home ownership is important, with 46% seeing renting as a waste of money. 58% even suggested that owning a home was important to gain a sense of ‘stability and security’.

So if you’re one of those millennials dreaming of owning your home, but you don’t quite know where to start, why not take a look at Mozo’s guides for first time buyers. 

Bureau of Meteorology warns Aussies to prepare for a summer of extreme weather events

The Bureau of Meteorology has warned Aussies that this summer may be marred with more heat waves and even more extreme weather events than usual. Dr Andrew Watkins warned that Aussies all over the country should prepare themselves and find out what the risks are to their area. 

Of course if you’re worried about your home, one thing to do, is make sure that your home is insured against the worst. And if you do decide that a home insurance policy is the way to go, you might want to double check what your premiums are, what the waiting periods for claims are and what exclusions might apply. Exclusions may include smoke scorching from a nearby bushfire and flood damage to outdoor areas.

Keen to get your home covered this summer? Why not check out the home insurance deals below to see what policy might best suit you.

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