With many banks raising their home loan interest rates, we may hear a cheer on the breeze from savers who’ve suffered through cut after cut to their interest earnings. The recent interest rate rises have seen a boost for savings accounts.
Results are out for the 2021 Census and Millennials now make up 21.5% of the Aussie population, set to overtake the similar proportion of Baby Boomers. Long teased for their penchant for avocado toast and ‘killing’ industries, millennials are now aged 25-39 and how they spend their money is no laughing matter.
With the cost of living pressures reaching boiling point for many Aussie families, and increases not showing any signs of slowing down; being wiser with the way you shop for your groceries could make a big difference to the amount you spend and how much you could save every week on the essentials.So, just how do families cut costs when all the groceries that have become necessities in many households start increasing? Here are a few tips that could help reign in the spending whilst still enjoying the things you’re used to when it comes to food and household essentials for the family home.
The rising price of fuel has ignited a growing reluctance to commute to work, according to a survey of 1,000 Australian office workers by Citrix Systems, a work-from-anywhere software company.
With all the talk about the cost of living rising, I've been looking into the simple act of saving money. It's not something that comes as naturally in 2022, when the emphasis on spending feels well ingrained.
Most Australians aren’t getting much joy from their savings accounts right now. In our snapshot of December’s savings interest rate landscape, we saw the average ongoing savings rate in Mozo’s database plunge to less than half a percent.But there is some hope and it’s held in the hot little hands of young savers. Specialised savings accounts for kids and young adults are well and truly leading the way, with interest rates as high as 3.00%. If they’ve been taught well, anyone who sits in the relevant age bracket should get saving while the variable savings rates are good. Make sure you check the fine print of the market-leading accounts below for any conditions you’ll need to meet to earn bonus interest.
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