When should a teenager get their first job?
Whether it’s to pay the bills or to follow lifelong career ambitions, we all need to learn how to earn cash.
Read More
Mozo’s Comfort Spending Report 2021
Baking bread, making frothy coffee and binge watching a documentary about a man and his love for tigers - there’s not much we didn’t do in 2020 to stave off boredom. But according to new Mozo data, we also spent time indulging in a bit of retail therapy. Mozo analysis shows that 1 in 3 Aussies have increased their comfort spending since the start of the Covid-19 pandemic. A massive 87% of Aussies admitted that they do comfort spend, with one in five frequently making comfort purchases. And if that wasn’t frightening enough, a Mozo number crunch found that the average Aussie is dropping $2,172 a year on comfort purchases, nationally that’s a jaw dropping $37,533,391,524! “Many of us have been cooped up at home and that has led to some sizable comfort spending. One in three people spent more last year on comfort spending than they had ever spent before,” said Mozo Director, Kirsty Lamont. “It’s no surprise that over half admit that their comfort spending habits put pressure on their budget.”
Read More
Xinja finalises all deposit returns: Where is your cash now?
In December last year, neobank Xinja renounced its Authorised Deposit-Taking Institution (ADI) licence and discontinued its banking and savings accounts.
Read More
How to trim your spending and bulk up your savings in 2021
When it comes to money management, the decade got off to a very weird start. A global pandemic and short-lived recession left many Australians struggling to maintain funds in their savings accounts, while others started spending in new ways.
Read More
Spending is on the rise as the year rounds out, says CommBank
Australians are looking to spend more across retail, entertainment, motor vehicles and home buying, according to the November instalment of the Commonwealth Bank’s Household Spending Intentions series .
Read More
How to make the most of money from your summer job
Whether you’re still in uniform, studying at college or in between years at uni, the summer holiday stretch can be a great time to get some work experience. Of course, if you are lucky enough to land a job over the next few months, you’ll want to make sure you use your earnings wisely.
Read More
Why a big bank savings account isn't always your best bet
For many Australians, the first experience they have with managing and saving money comes with using a bank account or savings account from one of the big four banks.
Read More
NSW Government to distribute $100 vouchers to get Aussies Out & About
The NSW government will be handing out $100 worth of vouchers to be spent on dining and entertainment in a bid to help the sectors hardest hit by COVID-19.The Out & About (Dine and Discover) voucher scheme will distribute four $25 vouchers to all NSW residents over the age of 18. Two will be designated for restaurants, cafes and clubs, and two for entertainment venues such as cinemas and art galleries.Importantly, the program does not allow for spending on retail products, alcohol, gambling or cigarettes.The four vouchers cannot be combined and each voucher is single-use, meaning it will expire even if the cost of the outing is under $25.Treasurer Dominic Perrottet said the scheme will help revitalise small businesses across NSW, who have seen activity plummet due to social distancing measures and an erosion of consumer confidence. “We want to encourage people to open up their wallets and contribute to the stimulus effect,” he said.“The dining and entertainment industries were among the hardest hit by the pandemic and I would encourage people to use this scheme once it is up and running and to make sure they spend a bit extra on the way through too.”RELATED: NSW government announces plans to phase out stamp dutyTo be eligible for the voucher scheme, businesses must register with Service NSW and be designated COVID-safe.The vouchers will be made available in early 2021 via the Service NSW mobile app. But a trial of the program is due to commence in the Sydney CBD in December.The government could also take its cues from similar programs rolled out in the UK, in which use of vouchers is limited to less busy days throughout the week.
Read More
Afterpay and Westpac team up to offer transaction and savings account
Buy now pay later giant Afterpay and major bank Westpac have announced they'll be joining forces. As part of the Westpac Group’s new digital bank-as-a-service platform, Afterpay will introduce savings accounts and cash flow tools to its customers. Back in November of last year, Westpac said it would invest in the digital banking platform as part of its full year results and this appears to have now come to fruition. Chief executive Peter King said fintech innovation is reshaping the way Aussies bank and how the traditional bank needs to keep up. “Our new digital banking platform is part of our long-term strategy to support this trend and better respond to changing customer needs,” he said. “The platform allows us to combine our banking experience with the innovation of our partners to support new customer experiences. We look forward to working with Afterpay to deliver new products and services.”
Read More
How to get married in 2020: Popping the question around cost
On the 27th of June, my boyfriend got down on one knee and asked me to marry him. And like any young woman who grew up watching ‘Say Yes to the Dress’, my mind was already racing with wedding ideas. But in between the overwhelming messages from friends and family was news reports about the COVID-19 pandemic spreading, with cases hitting record numbers. Although I have no plans of getting married this year, I knew I had to move fast to secure a venue, as COVID-19 restrictions were forcing couples to push their weddings until next year. And even though I didn’t like the idea of rushing, I can understand why a couple would choose to delay what’s come to be known as ‘the happiest day of your life’ - coming from a big family myself.According to wedding planning website Easy Weddings, around 60% of couples have already cancelled or postponed their 2020 wedding due to COVID-19.Other couples, however, are choosing to embrace this unusual time and are committed to walking down the aisle. While motivations for doing this can vary between couples, one reason could be the unexpected financial benefit. This report will take a deep dive into what the wedding industry looks like in 2020 and why couples are using COVID-19 as their opportunity to host a refined version of their dream day.
Read More