The growth of contactless payments COVID-19 has accelerated our move towards a cashless society. If you can’t tell your Apple Pay from your AirPlay, now’s a good time to consider the benefits of contactless payments. It’s a very 2020 story. Your new homemade breadmaking skills are as uneven as the lump you lifted from your oven, so you pop down to the bakers for their tasty sourdough rolls. But as you make it to the …
Mixed outlook for Australian housing amid prolonged pandemic A relatively high rate of unemployment across the nation, coupled with a freeze on immigration, and consequently population growth, might ordinarily spell bad news for the housing market. Instead, Australian capital city average dwelling prices rose 0.2% in October, according to CoreLogic, the first monthly gain since April and hot on the heels of a cumulative contraction of almost 3% between April and September. Prices …
Financial wellness in 2020 – how does yours compare? Financial wellness is how you feel about your money. It can affect your overall wellbeing and other areas of your life, such as work and family. So, while money isn’t the be-all and end-all, how you feel about it is pretty important. Since 2014, AMP has been commissioning research1 into the financial wellbeing of Australians and has developed the Financial Wellness Index. It measures a person’s satisfaction …
Five investment markets impacted by a big week in Australia It’s been a big week in Australia, with the central bank meeting and the government handing down one of the most significant Budgets in our history. For a detailed analysis of our thoughts on the Federal Budget, you can read a note from Shane Oliver and I. Here, we take a look at the outlook for some asset classes after a busy few days. 1. Cash and …
Market Update 14 August 2020 Investment markets and key developments over the past week Major global share markets, with the exception of Chinese shares, rose over the last week as US new coronavirus cases trended down and on optimism regarding a vaccine and the economic outlook, with the US share market briefly surpassing its February closing high. The positive global lead along with a fall in new Victorian cases saw Australian shares rise to the …
Mortgage relief to be extended for struggling Aussies There may be some welcome news for distressed Aussie homeowners, with banks extending their offer of mortgage relief to those in need. Find out more about the offer and pay off your home loan sooner. Mortgage holders who are still struggling financially due to the impact of COVID-19 will be eligible for a further four-month extension to repay their home loans. The Australian Banking Association says lenders will work with …
Why you need more than one budget Coming up with even a basic budget is a big achievement for most of us. But having more than one budget can actually help you get to your goals sooner. Find out why. Sticking to a budget can be a tough business. Even with a step-by-step budgeting guide to follow, having the discipline to stay on target with goals for spending and saving is a challenge. Even the task of …
Market Update 31 July 2020 Investment markets and key developments over the past week Share markets were mixed over the last week with Chinese shares up solidly and US shares rising slightly on the back of good earnings results, particularly for tech stocks, but Eurozone, Japanese and Australian shares fell on uncertainty regarding the economic outlook. Australian shares were dragged lower by sharp falls in energy, financial, health, property and utility stocks. Bond yields generally fell …
How COVID-19 has widened the gender super gap With the coronavirus outbreak (COVID-19) wreaking havoc on the global and Australian economies, new research by AMP shows the extent of the economic impact of COVID-19 on the super account balances of Australian women. Diana Mousina, Senior Economist at AMP Capital, and AMP Data Insights Manager, Tracy Lewis, discuss the latest findings on the widening gender super gap. These include contributing factors such as job losses, the …
AMP is marking 10 years of its advisers helping cancer patients and their families with pro bono financial advice through the AMP Foundation’s partnership with the Cancer Council. Since 2010, advisers in the AMP network have supported more than 6,500 people affected by cancer – patients and their families – to address their financial challenges through Cancer Council’s Pro Bono Program. During this time, the AMP Foundation has contributed more than $1 million towards the …
