Why people choose the wrong credit card Now we have a bit more proof that these warnings from consumer advocates were spot on. As banks face pressure to live up to claims they “put customers first”, the Reserve Bank released research finding almost two out of three Australian cardholders receive no “net monetary benefit” from having a credit card. When you think about it, that’s a surprisingly high proportion of customers who are no better …
7 money personalities you may identify with or want to avoid Are you the friend that shouts more than what you can afford, or the one that’s happy with a handout because no one knows struggle street like you do? When it comes to money and people’s behaviour, you may have a few labels or preferred ways of describing those nearest and dearest to you – and surprise surprise, they may do for you too. …
The best money blogs and financial advice for 20-somethings Are you a 20-something, a Millennial, a Gen Y or a Gen Next? Actually, it’s a trick question, as they’re all the same thing. Whether you believe such a label applies to you or not, you may think managing your money better isn’t something you should be doing until you’re 30-something and living in your own home with kids. Here we feature some money blogs to …
Old and new money lessons for kids One of the most important things you can teach your kids is how to manage their money as this will help them better face the challenges of adulthood. In our world of ever advancing technology, children often don’t see physical money being exchanged. In fact, some Scandinavian countries are even doing away with physical cash altogether. These days, money can be moved with the swipe of plastic card …
Personal debt – maybe the mortgage isn’t so bad Household debt in Australia is high but more of us are taking a sensible approach to debt management. Nationally, our household debt ratio is nudging 200%. On paper it means we owe twice as much in debt as we bring home in our pay packets each year. It sounds like an alarming figure but as 74% of all households have some level of debt, the reality …
What’s debt consolidation and do I need it? Stuck with a post-Christmas spending hangover? Debt consolidation could be a solution, but tread carefully: there are no easy fixes. Debt consolidation involves taking all your monthly debts – for example, from your credit cards, store cards, mortgage, car and other loans and so on – and rolling them into a single low interest rate loan. If you are rolling all your debt, including high interest rate …
The inconvenient cost of convenience apps In today’s digital world, there’s a mobile phone app for just about everything. It can make life easier, but convenience can come at a cost. Smartphones have wrought remarkable changes to our way of life in just a few short years. Need a ride somewhere? There’s an app for that. Too tired to cook dinner? There’s an app to supply takeaways direct to your door. Need cash in a …
What you need to know about buy now, pay later services Take your product home, pay for it within the specified timeframe, get charged 0% interest. What could go wrong? Branded the modern-day layby, ‘buy now, pay later’ services essentially offer the same thing, except you get the product up front—the outfit, the watch, even certain domestic flights within Australia. If you haven’t heard of buy now, pay later services, or are keen to know …
Digital payment options could see you spend more this Christmas With the festive season just weeks away, Australians are gearing up for the annual peak spending period, and the growth of digital payment options could be widening the gap between what we regard as our spending limit and the balance of our bank account. The disconnect between cards and cash Credit cards make spending (and overspending) very easy, and a new breed of “digital wallets” …
Be the boss of your cash If, like many others, your life and money feels a bit like a juggling act – paying bills here and there… and “Uh oh, forgot about the council rates, guess that one’s going on the credit card”. You may be thinking that having some extra cash would solve a lot of your problems. Well, often changing how you spend the money you have now, can help you start to …
