In a world where the temptation to splurge is everywhere, it's easy to fall into the trap of 'spaving', aka - spending to save. While it may seem like a savvy strategy at first glance, this trend can quickly lead to financial pitfalls if not approached with caution.
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Saving doesn’t have to be complicated, and if you put aside a little bit each time you get paid, you could have as much as $10,000 in your savings account in five years time.
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After the Reserve Bank’s recent May meeting, it seems Australia's cash rate is going to hold at 4.35% a while longer.
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No matter what continent they live on or what language they speak, you can always count on mums to tell you exactly what they’re thinking. Yes mums sometimes have some painfully honest opinions to share, but they can also often give you extremely useful, shrewd tips to live by.
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Millennials and Gen Z are struggling the most to achieve their savings goals, despite being the most-likely age groups to set them according to data published in the 2024 Mozo SOS Savings Report.
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Savings account rates remained relatively steady in April, with only a handful of providers making adjustments to interest rates according to Mozo data, while the RBA cash rate remained unchanged.
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1 in 6 Aussies say they’ve never changed savings accounts “because it’s too much effort”, but a new report from Mozo has found that those of us who haven’t bothered switching are lagging behind with the lowest interest rates.
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The continued rising cost of living means expenses are piling up, which makes sticking to a budget and finding the small wins all the more important. You may feel personally victimised by your skyrocketing supermarket bill, but there are some things you can do to help reduce your spending and build up those savings even if you are already on a tight budget.
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The first quarter of the year has already flown by, and it's a good time to take stock of your financial progress. Did you manage to stick to your savings plan, or did unexpected expenses and financial challenges derail your goals?
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With the cash rate currently standing at 4.35%, some savings account providers have brought rates on offer up to and even over 5.00% p.a. This means that, while rates remain high, savers can see their cash earn them a fair amount if they get the highest rates possible.
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