A major consequence of the ongoing rate rises is that the number of Australians defaulting on their home loans has surpassed the mortgage stress peaks during the Global Financial Crisis. Borrowers can’t take this hit lying down though, they need to be proactive, and spring clean their finances to make sure they’re on the best… Read more »
Borrowing power has plunged over $260,000 for some Australian families, trapping many mortgagees that can’t qualify for better rates, and hampering house hunter hopefuls. Lenders have been far more cautious in an effort to offset the risk of recession and higher rates that could impact long-term serviceability. Fixed rate borrowers who have just had their… Read more »
The economy is slowing, inflation is still too high, it has never been harder to balance the family budget and loan repayments are sky high… but the average Australian is still one of the wealthiest, if not THE wealthiest, people in the world. I always enjoy reading James Kirby in The Australian newspaper and during… Read more »
Research shows you may be throwing money away by staying with an insurer who isn’t giving you their best deal. No one wants to buy the same product for a markup at the supermarket, especially when the cheaper alternative may be just as good, if not better. Yet, the latest research from Compare the Market (disclosure:… Read more »
From 1 July 2025 the Federal Government plans to reduce the tax concessions on people with more than $3 million in their superannuation fund. An extra 15 per cent tax will be added to the annual “earnings” of the fund… on top of what they already pay. The controversy is not just the introduction of… Read more »
Research from Compare the Market’s new Household Budget Barometer has revealed the nation’s surprising financial fears for the next 12 months. According to the report, the cost of groceries, energy and fuel are the bills that Australians believe will cause the most pain in the next year. In fact, a whopping 66.4 per cent of… Read more »
Yet another fast and furious profit reporting season is over. We get bombarded with so much information that it’s pretty hard to get perspective on what actually happened. That’s why I always look forward to CommSec’s wrap up of reporting season to provide the overview. Here’s summary of CommSec’s key takeaways from this year. Aggregate… Read more »
While the Federal Treasurer and PM put on dour faces and complain about how tough the impact of higher interest rates and inflation is having on the average Australian… they are quietly counting the dollars they’re reaping in the background. Yes, iron ore and coal exports have been booming and the lower Australian dollar is… Read more »
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 »
I know you’re sick of me always saying you need to constantly shop around for the best deals on everything. But it’s so important. Those who have been following me for a while know my wife Libby is the world’s best when it comes to household finances… she has managed ours ever since we were… Read more »
