Rising cost of living pressures have begun to ease as inflation slows, but household budgets remain tight in 2025. With the RBA's last 25 basis point cut bringing the cash rate down to 4.10%, being aware of good savings rates becomes more important.
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With more talk of the RBA cutting rates in May, it's a tricky time for savers so getting the best return on your money is paramount.
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You work hard for your money and it should work just as hard for you! That’s why, each year Mozo’s team of money experts assess and evaluate every savings account, term deposit and everyday bank account in our database to determine the best value options for Australians.
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Mozo recently released the findings of our annual savings report and shockingly, despite the high cost of living, many Aussies continue to throw money down the drain.
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New research from Mozo reveals that Australians are leaving significant money on the table through simple savings missteps. The 2025 Savings Report analysed 264 savings products from 84 providers and surveyed over 1,000 Australians, uncovering five critical errors that could be costing you hundreds in potential interest.
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Economic uncertainty partly caused by recent tariffs has seen big drops in the stock market this week. As you would expect, people are understandably anxious about their cash.
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Consumer confidence dropped 2 points to 87.7 over the past week after a significant increase the week before, says Roy Morgan.
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One of the easiest ways you can maximise your money is by signing up to a high interest savings account, yet the latest survey data from Mozo reveals that Aussies have their head in the sand with a whopping 69% saying they have never switched savings accounts.
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I’ll admit it, I’m a big spender. I regularly splash out on the latest kicks (especially during sale season), eating out, weekends away and buying my kids toys they definitely don’t need. But all this spending has got me thinking, surely I’m not the only person in Australia with a spending problem?
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With inflation at an all time high and the cost of living having a choke-hold on many Australian families, it’s time to think smarter when it comes to making your money work harder for you. So what better time to boost your savings interest rate with a few smart moves that could triple your returns?
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