Westpac increases digital offerings with MoneyBrilliant app
Westpac announced this week that it would be boosting its digital offerings with money management app, MoneyBrilliant.
Why your savings account should be on your spring clean list this year
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!
Leading Westpac Life interest rate cut overnight
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.*
Cash savings rise during pandemic, yet 21% of households have less than $1,000 saved
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.
81% of Aussies will take advantage of EOFY sales, according to Mozo research
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.
5 surprising things you can claim as tax deductions
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.
QLD gov says goodbye to Dollarmites in school banking shake-up
Queensland has become the latest state to announce a ban on bank-led school banking programs, including the Commonwealth Bank’s well-known ‘Dollarmites’ program.
Mozo Piggy Bank Report 2021: Our kids and pocket money
Key findings from our report:
‘Bill’ Now Pay Later: Is it a good option post-JobKeeper?
There are so many Buy Now Pay Later platforms around these days, it would be surprising if you hadn't heard of at least one. Think Afterpay, Zip, Klarna and Payright. The question is have you come across the 'Bill Now Pay Later' concept?
Do banks really create money out of thin air?
Most people tend to think of banks as intermediaries between people with savings and people who want to borrow money. They loan out deposits to borrowers, and make a profit by charging more interest than they pay savers.But is this an accurate description of how banks work? Nowadays, there’s a lot of debate about where banks actually get the money for loans, with some suggesting deposits may not be the source after all. Below, we explore a few of the main theories.