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.
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.
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.
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.”
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.
Although one saving method does certainly not fit all, there are a few common traits that (most of us) subscribe to when it comes to stashing cash for a rainy day.
Ethical and sustainable investments are the way of the future, according to the Responsible Investment Association of Australia (RIAA).The group has released new research showing responsible investment funds outperform their mainstream competitors across 1, 3, 5 and 10-year timeframes. This includes analysis of fund stability during the economic disruption caused by COVID-19.“The pandemic has resulted in significant economic turmoil, severely impacting many people’s livelihoods and financial markets globally. However it’s become clear that responsible investors are ahead of the game,” RIAA chief executive, Simon O’Connor said.“They are identifying the key themes influencing markets and returns, which helps them to better navigate turbulent times, avoid the biggest risks and capture more opportunities” The RIAA report assessed Australia’s responsible investment market in 2019. It found over $1 billion in assets under ethical management, which was a rise of 17% from 2018. This kind of investment now represents 37% of more than $3 trillion in Australia’s professionally managed assets.O’Connor said companies and investments simply won’t thrive in the future if issues like climate change, health, working rights, diversity and corruption aren’t taken into account. “Investors are fast realising that consideration of these issues provides more informed investment decisions, such as valuation and asset allocation," he said.RELATED: Accessed your super early? Here’s how to rebuild your nest egg.
For many, the warmer spring days are a great motivation to drink more water and snack on more juicy fruits. Now while we also love a good smoothie, we’d rather talk about whether or not your savings account is getting its five-a-day.
Here at Mozo we reckon buying and selling preloved all year round is not only good for the planet, but also for your wallet. So we took a look at Gumtree’s latest Secondhand Economy Report to see what items Aussies are most interested in buying or selling used.
When it comes to finances, there is one thing you simply cannot buy and that’s good money habits from an early age. Just like riding a bike or learning a second language, some things are just easier to pick up when you’re little.