Whether it's for an emergency fund, a home deposit or an upcoming vacation, saving money doesn’t have to be a boring task. There are many saving challenges you can try to reach your goal in an exciting manner.
With a new year and a new financially conscious you, it might be time to finally set up that budget you’ve been thinking about but never put into action so you can save up for something big in 2022.
It’s the start of the new year and what better time to put into practice some new money habits that could see you ditching debt for good or sending your savings skyrocketing.
When it comes to your finances, being a good saver is crucial. And what goes hand-in-hand with being a good saver? A high interest savings account. So if you are currently signed up with a provider that offers low interest rates (or none at all), it’s time to put your savings account on your spring clean list!
Westpac has made a slew of interest rate cuts to its savings accounts, including to the leading Westpac Life rate for 18 to 29-year-olds. The big bank shaved a sizeable 50 basis points off the rate, taking it down from 3.00% p.a. to 2.50% p.a.*
Putting money away in savings continues to be a top priority for Aussies in 2021, with the latest figures revealing households saved an extra $8.6 billion a month over the 12 months to March 2021.*Getting a decent interest rate on your savings is key to boosting your stash, and the good news is that a handful of financial institutions have just made this task a whole lot easier by boosting savings account interest rates in recent weeks.Virgin Money has launched a market leading new bonus savings rate of 1.50% p.a. for the first three months with its competitive Boost Saver Account, reverting to a high ongoing 1.20% p.a.Rabobank also offers a generous intro rate of 1.35% p.a. for 4 months, while ING has the current top unrestricted ongoing bonus rate at 1.35% p.a.So, if saving money is top of your financial priority list this year, here are some of the top savings and term deposit accounts on the market right now to help you to make the most of your savings.
Despite the financial impacts of the COVID-19 pandemic, new research has revealed that the level of ‘financial comfort’ felt by many households, including household savings balances, has actually improved over the past year and a half.
If you’re prepping your bank account or credit card for a big end of financial year shopping expedition, you’re not alone. A new Mozo study has found 81% of Australians are planning to hunt for discounted computers, software, office furniture and cars before the tax doors close on 30 June.
Whether you’re a tax-time veteran or approaching the EOFY as a newly-minted employee, you’ll want to get as much out of your tax return as possible. Knowing all the work-related expenses you can claim tax deductions on will help you in that mission.
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