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A third consecutive rate hike from the Reserve Bank of Australia landed this week… like a bolt of lightning. The impact was devastating … Combined with stubborn inflation, volatile oil prices and ongoing cost-of-living pressures, it’s the latest blow in a long stretch of them. For Australians already struggling with mortgage repayments, tenants drowning in… Read more »
Adult children could save upwards of $27,000 a year by returning to the coop after moving out of home, according to new research. The Compare the Market survey found older Australians and multi-generational living arrangements continue to be a major defence against rising costs. Rental prices have accelerated at three times the rate of wages… Read more »
School is supposed to equip our kids for life, and yet financial literacy is not a compulsory subject. Is it tine we changed the school curriculum to include it? It is a common concern that Aussie kids aren’t learning anywhere near enough about personal finances, with most Aussies receiving little to no money education at… Read more »
You may already have what you need to bring your car insurance premiums down an average of 4.15 per cent. Usually, small black boxes are associated with expensive rings, but what if one that many drivers already have could be saving you money instead? Car insurance comparison website Compare the Market (where I am Economic… Read more »
The financial squeeze on most Australian families from higher interest rates and inflation is leading to a great focus on managing the household budget better. New research from Compare the Market has found that saving money is the top New Year’s resolution for Australians ahead of the new year… which is only the end of… 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 »
The Aussie dollar has dropped sharply to a nine-month low and that impacts everyone. Our Australian dollar has dropped sharply over the last couple of weeks to a nine-month low. And the fact that our interest rate cycle is peaking while other countries are still raising rates is also dampening the value of the Aussie… 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 »
Existing bank home loan customers are being financially screwed like never before. But it’s up to you to fight with your bank. For example, if someone took out one of the big four banks’ lowest variable rates this time just last year they would now be on a rate that is, on average, 0.44 per… Read more »
