News

A Shocking Number Of Australians Lack Basic Financial Literacy

Post by Sharat on September 14, 2018 · Under News · Comment 

It is hardly surprising that the results of a new survey suggest that Australians who lack financial literacy tend to have low levels of savings, probably do not have much of an emergency fund and continue to carry credit card balances instead of paying down debt. The survey conducted by the University of Melbourne polled a group consisting of 15,000 people from both genders and every age group. Men tended to be more literate as were middle aged respondents in comparison to females, younger age groups and the elderly. Continue reading

Aussies Seem To Love Their Cars

Post by Sharat on August 21, 2018 · Under News · Comments Off on Aussies Seem To Love Their Cars 

For most people, purchasing a new car is a milestone and means they are taking on more responsibility. According to the latest data from the Australian Bureau of Statistics, many Australians experienced that milestone in the last calendar year. In 2017, vehicle sales increased by 4.5% in December, making it the largest monthly increase in almost six years. According to analysts, the reason for the rise was down to better quality vehicles and increased affordability, both of which produced the jump in sales. Continue reading

Australian Term Deposit Rates Are Starting To Climb

Post by Sharat on July 21, 2018 · Under News · Comments Off on Australian Term Deposit Rates Are Starting To Climb 

In the past, one of the best ways to grow a nest egg was to deposit extra cash in a high interest term deposit account. However, the last 18th months have proved that old theory to be a little inefficient. Things are starting to change though.  Since the beginning of March as many as 25% of providers have hiked their term deposit rates and April was the second consecutive month where the number of rate hikes exceeded the number of cuts.  This is great news for Australian savers who prefer a set-and-forget strategy.

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Developers Trying To Entice Young Australians Into Buying Their First Homes

Post by Sharat on June 28, 2018 · Under News · Comments Off on Developers Trying To Entice Young Australians Into Buying Their First Homes 

The hardest thing about climbing the property ownership ladder for a young Australian is saving up for the down payment on their mortgage. One property developer in Western Australia has developed a plan that seeks to make that a problem of the past. The plan launched by Apartments WA is called Preposit and allows young Aussie home buyers to move into their apartment even before they have finished saving for their deposit. Continue reading

Australians Need To Understand The Impact Of Their Credit History

Post by Sharat on June 21, 2018 · Under News · Comments Off on Australians Need To Understand The Impact Of Their Credit History 

Many Aussies simply have no understanding of the term credit history. However, it is critical that they do because it determines the access you have to credit which means it could impact everything from the homes you wish to purchase or the holidays you wish to take. This means you should take the time to better understand it. According to recent polls, as many as 60 per cent of all Australians have never checked their credit report and 30% don’t know there is a difference between their credit score and credit report. Continue reading