The path to creating wealth is different for everyone. Some people get there via strategic property investment, while others achieve financial freedom because of business ownership. While most financially successful people share similarities, they also make sure they don’t make silly mistakes that could damage their financial goals. So, here are five financial mistakes it…
Will there be another double hike in interest rates from the RBA next week? With annual inflation rising to 6.1 per cent today, this is almost certain. In fact, if the RBA increases the cash rate by 0.50 percentage points on Tuesday, the average owner-occupier with $500,000 debt and 25 years remaining will see their…
The property market is going to crash! How many times have we heard that one recently? Inflation is rampant and the RBA is hell bent on getting it under control meaning rising interest rates will strangle our housing markets. Well, that’s what mini so-called experts in the media is telling us, isn’t it? Even our…
The number of households renting in Australia has jumped by 280,000 since the last census This comes as rentals become increasingly unaffordable, with skyrocketing rents pushing about more Aussies into rental stress. Rental stress is characterised by households spending more than 30 per cent of their income on rent. While almost 3 million households are…
In the face of rising living costs, high levels of debt and mortgage stress for some, there’s no doubt many of us find it difficult to save money. But even if you’re on an average income, there are small changes you can make that will have a big financial impact on you. Here are the…
Australia’s shrinking household size accelerated during the Covid-19 pandemic, sending property prices and property rental prices skywards as dwelling supply struggled to keep up with the booming demand. The most recent Census data revealed that the average number of people in each household has fallen to 2.5 people, from 2.6 people last Census. In 2021,…
Did you know that 1 in 4 Australians lie about money? According to Finder’s latest research data, an equivalent of 5.2 million people have lied about their financial situation. In fact, the research shows the most common money-related lies deal with income and savings. The most common fib Aussies tell is how much money they…
How is consumer sentiment being affected by the continuous news about higher interest rates and rising inflation? To be frank…quite badly! The latest data from NAB showed that consumer sentiment fell 3.0% month on month in July to 83.8 from 86.4 to be at its lowest level since August 2020. The fall in July represents…
Aussies are focussing more on their outgoings, prioritising essentials and cutting back where they can according to a recent report by NAB. Clearly, the cost of living is steadily rising in Australia and is becoming a key issue for consumers. Rising inflation has been the key driver, with Australian consumer prices rising by 5.1% over…
Is it now a buyers market for those living in NSW, given that we are witnessing an overall slowing momentum in property value? The latest report from Domain highlights this property trend across Australia’s most populous state, with their Chief of Economics and Research, Dr Nicola Powell commenting: “The NSW property market has been an…
