What you need to know about gifting money to your kids
Gifting money to your children or grandchildren represents more than just financial assistance – it's an opportunity to provide meaningful support and lessons about money.
Gifting money to your children or grandchildren represents more than just financial assistance – it's an opportunity to provide meaningful support and lessons about money.
If you've ever reached the end of your pay cycle and wondered "Where did all my money go?", you're not alone. Good news though, there is a solution!
Fixed or variable, that is the question. For most people, savings accounts and their variable interest rates are the standard option. However, term deposits and their fixed rates offer their own advantages that make them worth considering.
No matter what you’re saving for—whether it’s a holiday, a home deposit, or a new pair of shoes—there’s a savings account suited for every savings goal.
A savings account is a secure and easily accessible place to store your money. Unlike a regular transaction account, which you use to pay bills and cover expenses, a savings account is designed for depositing funds for future needs while earning interest.
Savings accounts can be a great way to earn interest on your hard-earned money. Not only do they provide a safe place to store your cash (as they are guaranteed under the government’s Financial Claims Scheme), but many offer quick access to your cash if needed.
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Half? A quarter? A dollar? It can be challenging to figure out how much of your income you should save. Thankfully, there are ways of figuring this out so that you can start saving for whichever goal you’re aiming for.
Choppy financial waters have meant that the average saver has burnt through their cash quickly this year. In fact, Mozo’s 2024 savings report found that 1 in 6 (16%) Aussies are putting their savings goals on hold.
Ever wondered what might happen to your savings if your bank failed? The Australian Government's Financial Claims Scheme (FCS) is designed to protect you in such scenarios.
An emergency fund is a sum of money you set aside that can support you if you experience a difficult financial time. It might be an unexpected event such as a medical emergency or losing your job, or you might be getting hit hard by the rising cost of living.
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Saving up cash doesn't have to be a complicated process. At the most basic level, it requires spending less than you earn. Normally, this means having to cut out discretionary spending, although you can offset this by finding new sources of income.
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If you’re planning on saving with someone you trust, it can be a hassle to calculate between separate accounts. That’s why a joint savings account can be pretty useful. But what are they and how do they work?
With rates climbing upwards and the rising cost of living causing stress, we’re all looking to save money wherever we can. The first things we look at are always the big expenses - home loan repayments, credit cards - but could you be earning more on your savings?
Sate your high-interest appetite with savings updates and belt-loosening news.
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With the RBA following through with a rate cut last month, it's a tricky time for savers, so getting the best return on your money is paramount.
You work hard for your money and it should work just as hard for you! That’s why, each year Mozo’s team of money experts assess and evaluate every savings account, term deposit and everyday bank account in our database to determine the best value options for Australians.
Rising cost of living pressures have begun to ease as inflation slows, but household budgets remain tight in 2025. With the RBA's last 25 basis point cut bringing the cash rate down to 3.85%, being aware of good savings rates becomes more important.
Mozo recently released the findings of our annual savings report and shockingly, despite the high cost of living, many Aussies continue to throw money down the drain.