Latest Finance News

Home Ownership In Australia On The Decline

Post by Sharat on December 28, 2018 · Under News · Comments Off on Home Ownership In Australia On The Decline 

It is no secret that the Australian property market has seen better times. Following hikes in interest rates and those seeking to get on the property ladder sitting on the side line for now, things can hardly be worse. According to the latest survey results, home ownership between 2001-2004 and 20013-2016 declined by 3.7 per cent across the country and when you take the 18 to 24 age bracket into consideration the figure fell by 5.9 per cent. Continue reading

Australian Property Owners Feeling The Pinch

Post by Sharat on December 21, 2018 · Under News · Comments Off on Australian Property Owners Feeling The Pinch 

As prices for ordinary items such as a cup of coffee continues to rise and companies say there will be no Christmas bonus despite banks hiking mortgage rates, it is hardly a surprise that Australians are feeling squeezed. The latest research by Gateway Bank suggests that a whopping 56 per cent of Australians are facing mortgage stress and believe their home loan is an anchor around their neck, severely limiting their lifestyles. Continue reading

Australian Parents Being Forced To Dip Into Children’s Savings Due To Rising Cost Of Living

Post by Sharat on December 14, 2018 · Under News · Comments Off on Australian Parents Being Forced To Dip Into Children’s Savings Due To Rising Cost Of Living 

A recent survey polling more than 1,000 parents has found that more than half of Australian parents polled have established a savings account to build a nest egg for their children. This indicates that parents are planning for their children’s financial future’s and understand how important it is to build a war chest to finance expenses such as education or perhaps help their children along with their home deposit. Continue reading

It’s Time For Australians To Shop Around For Home Loans

Post by Sharat on December 7, 2018 · Under loans · Comments Off on It’s Time For Australians To Shop Around For Home Loans 

According to research, Australian borrowers who continue to stick with the big four lenders despite the hike in interest rates could end up missing out on saving more than $2,000 a year. When this figure is combined Australians could end up missing out on saving a whopping $7 billion in annual interest payments or $19 million a day. Over the last few months ANZ, CBA, and Westpac have all raised their variable home loan rates in response to rising funding costs. Continue reading

Parents Under Financial Stress After Birth Of Child

Post by Sharat on November 28, 2018 · Under Hints and Tips · Comments Off on Parents Under Financial Stress After Birth Of Child 

The latest research suggests that new born babies cause financial stress for many first time and even experienced parents. 70 per cent of families say they feel financial pressure during the first year of their baby’s life. Whilst most expecting parents do make financial preparations for the arrival of a new child, many also struggle with the costs. Having a baby is a life changing event and should be celebrated but there are certainly financial implications that need to be considered. Continue reading

Australians Need To Ask For Inflation Adjusted Pay Increases

Post by Sharat on November 21, 2018 · Under News · Comments Off on Australians Need To Ask For Inflation Adjusted Pay Increases 

If we pay attention to inflation data, then the average Australian should be asking for at least a $1,000 pay increase this year. The latest Consumer Price Index suggests a 2.1 per cent rise in the cost of living in Australia over the last year. Household budgets are tight as a result of electricity rate hikes and rising household debt and mortgage rates and despite companies engaging in cost cutting, every Australian should put in a request for pay increases. Continue reading

Australians Need To Educate Themselves On The New Credit Reporting System

Post by Sharat on November 14, 2018 · Under News · Comments Off on Australians Need To Educate Themselves On The New Credit Reporting System 

If you are someone who never thinks about their credit score you certainly aren’t alone in that sort of behaviour. According to research from Experian, 65 per cent of Australians have never looked at their credit report even a single time, with customers of the big four lenders being the worst in this regard. There have been changes adopted to the credit reporting system, so now more than ever it is critical that Australians understand how important having a good credit score is. Continue reading

Financial Regulator Issues New Guidance On Credit Cards

Post by Sharat on November 7, 2018 · Under credit cards · Comments Off on Financial Regulator Issues New Guidance On Credit Cards 

In a bid to ensure that credit card issuers engage in responsible lending, the regulator ASIC has asked that lenders take up a three-year period when they determine what the appropriate credit limits for borrowers should be. Banks and other providers of credit will now have to assess a borrower’s ability to repay their credit limit in no more than three years, whilst still maintaining the ability of customers to have regular access to credit. Continue reading

Second Hand Car Loans Make Car Ownership Affordable

Post by Sharat on October 28, 2018 · Under loans · Comments Off on Second Hand Car Loans Make Car Ownership Affordable 

According to the latest research, Australia appears to be a nation of second-hand lovers with over 90 per cent of the population having purchased at least one second item at some point in their lives. The research suggests that 100 million items were sold on Gumtree over the last year, with 43 per cent of buyers claiming they saved as much as 50 per cent off the purchase price of the item were they to have bought the item brand new. Continue reading

Low Interest Personal Loans Can Be Used To Consolidate Debt

Post by Sharat on October 21, 2018 · Under loans · Comments Off on Low Interest Personal Loans Can Be Used To Consolidate Debt 

According to the latest data, nearly half of all Australian credit card holder say they find it difficult to make payments that exceed their minimum monthly repayment on their outstanding balance. Not only do these borrowers struggle to make the minimum payment they also seem to be unable to pay down their debt during the interest free period. An ASIC report published recently found that the total outstanding credit card debt in Australia is $45 billion. Continue reading