Australians rely on plastic to get through to payday. In fact, more than one in three credit card users are carrying around debt after they pay their bill each month, contributing to the estimated $3.15 billion lenders have collected in interest charges over the last year. This according to a RateCity.com.au survey of over 1,500 credit…
Is financial infidelity worse than adultery in a relationship? Well, a Finder survey of 1,096 respondents revealed that 1 in 5 Australians (21%) – equivalent to 4.2 million people – think lying to your partner about finances is worse than physically cheating. Baby boomers (23%) are most concerned with financial fibs in a relationship, compared…
Australia is home to some of the most liveable cities and most beautiful beaches in the world, but now our nation is considered one of the world’s richest. According to new data from Founder Pass, Australia is ranked at number 8 for the world’s highest salaries. The ranking shows that Australians have a monthly average…
It seems that Aussie households are struggling to clear their Christmas debts. In fact, credit card debt attracting interest charges has risen for the third month in a row according to the latest RBA credit card statistics. The total credit card bill attracting interest on personal credit cards is now $17.61 billion. At an average…
Do you think you’re paying way too much tax? Well, according to new research by Finder, millions of Australians think too much of their salary goes towards paying taxes. The survey with 1,004 respondents revealed almost 2 in 3 (64%) Australians – equivalent to almost 13 million people – believe they pay too much money…
Household wealth rose for the fifth straight quarter (+2.8 per cent or $419 billion) in the December quarter of 2023, according to the latest figures released by the Australian Bureau of Statistics (ABS). Total household wealth was $15.7 trillion in the December quarter, which was 7.8 per cent ($1.1 trillion) higher than a year ago. Residential land…
Money in the bank from households continues to climb with APRA’s latest data showing Australians collectively stockpiled an additional $6.17 billion in the month of February. This takes the total value of household deposits to a new record high of $1.46 trillion. APRA’s monthly banking statistics released today also show that since the start of…
The latest RBA cash rate announcement came as no surprise, keeping the cash rate on hold at 4.35%, with most economists agreeing the next move on rates will be down. What does this mean for borrowers? Well, borrowers could be thousands of dollars better off with substantial savings forecast for loan repayments over the next…
In an increasingly digital world, the frequency and sophistication of financial scams have escalated, posing a significant threat to unwary Australians. The government projects that scams cost Australians $3.1 billion per year. So let’s dissect the common tactics used by scammers and look at a few strategies to avoid falling prey to these schemes. What…
In 2023, the Australian property market witnessed a distinctive shift, as homeowners and investors navigated the changing financial landscape. According to PEXA’s latest Mortgage Insights Report, the total amount borrowed for property purchases across Australia was $300.9 billion, marking a 12.7% decrease from the previous year. This trend reflects the dual impact of rising interest…
