Australian household savings rates have reached lows not seen for more than 15 years. Australians built a huge savings war chest during COVID (lockdowns prevented us going out and spending) which has helped us fight inflation and rising mortgage repayments. We’ve dipped into our savings to cover the cost increases and still maintain our spending.… Read more »
Yes, loan interest rates are going up, but so is interest paid on savings accounts. Granted many banks haven’t lifted savings rates at the same pace as loan rates, but many have. I was stunned by a survey from research group Finder which found more than 1 in 2 Aussies (53 per cent) are still… Read more »
The big four are always quick to raise their home loan rates, but really drag their feet to reward savers. Here’s where to find the best savings rates. All of the big four banks have hiked their variable home loan rates by 0.5 per cent after the latest RBA increase, but not all their savers… Read more »
Kids’ savings accounts are generally horrible when it comes to features and returns – but some are better than others. As a father of four adult children and eight grandchildren, I’ve always been interested in kids’ savings accounts. Libby and I have always tried to instil good savings habits (with mixed success) into our kids… Read more »
Which savings strategies are you currently using? None? It’s definitely time for a rethink! By Tim Whitehead It’s three days before pay day and the only things left in your wallet are a couple of faded receipt stubs and a crumpled coffee rewards card, three stamps short of a freebie. You check your bank account… Read more »
Reckon you can’t save $10,000 this year? This 52-week savings challenge knows you can. There are so many reasons to save $10,000 by the end of the year. You might be saving towards your first home deposit, paying off a debt, going on a holiday, growing your super balance, or even taking your first leap… Read more »
You’re filing in your home loan application (congrats, BTW), but the request for genuine and non-genuine savings has you stumped. Since when were savings not real savings? When filling out your home loan application, one of the most crucial aspects that your provider will request will be proof of the amount of money you have… Read more »
Just when you thought the banks couldn’t get any stingier, they are. Savings interest rates have been reduced again. Australia’s biggest bank, Commonwealth Bank (CBA), has cut its savings rates by up to 0.07 per cent. The Reserve Bank hasn’t changed official interest rates since November last year, but the CBA (and the other big… Read more »
As the property industry continues to go from strength to strength, it is becoming harder for Australians to save for a deposit. The average Aussie has $28,426 in savings, but that varies greatly depending on age and gender, according to the latest figures from Finder. The report found that young Aussies aged around 23 years were… Read more »
Hi everyone… and to all those in Victoria, hang in there the whole country is supporting you and sending our love. End of another week and more information coming out about the economic damage from the Coronavirus pandemic. . Last night the US economic figures were released showing an 8 per cent contraction in the… Read more »
