Insights

Interest rates to keep climbing as RBA hikes cash rate to 1.85%

August 2, 2022

The Reserve Bank of Australia (RBA) has increased the official cash rate by another 50 basis points to 1.85%. Here’s how to hang in there and keep up with all these monthly cash rate hikes. Another month, another RBA cash rate hike – that’s four months in a row now! It’s hard to believe that…

Keep calm and carry on: 5 ways you can absorb interest rate rises

July 28, 2022

We’ve seen interest rates bounce back up over the past three months, and most economists are predicting more increases to come. If you’re starting to worry about your finances, rest assured there are several steps you can take now to get on the front foot. The days of ultra-low interest rates are officially over (it…

Renovate or invest? How 7-in-10 Aussies are using their equity

July 21, 2022

Seven in 10 homeowners have recently used the equity in their home to renovate, invest in property or shares, or boost their superannuation. Have you thought about how you could take advantage of last year’s property price spike? You might have heard that property prices spiked 23.7% in 2021, yeah? That’s quite the growth spurt! So…

Single and under 30? You’re a great fit for the 5% deposit scheme

July 18, 2022

Single Australians under 30 snare the lion’s share of spots in the federal government’s 5% deposit first home buyer scheme, according to new data. Here’s how to secure one of the highly coveted 35,000 scheme spots released on July 1. Long gone are the days when you had to scrimp and save for a 20%…

The tax on luxury cars just got a little cheaper

July 18, 2022

Got your eye on a luxury car that’ll make your mates jealous? Or perhaps something that’s a little more fuel-efficient and environmentally friendly? Today we’ll run you through a new tax change that could help you buy something a little more la-de-da. Have you heard about the luxury car tax (LCT) threshold? Basically, if you…

RBA lifts cash rate for the third month in a row to 1.35%

July 18, 2022

The Reserve Bank of Australia (RBA) has increased the official cash rate by another 50 basis points to 1.35% amid continuing inflation pressures. How much will this third consecutive rate hike increase your monthly mortgage repayments? At the beginning of May, the cash rate was 0.10%. Today, it was increased by the RBA to 1.35%…

Want a first home buyer scheme spot? Here’s how to get the inside lane

July 18, 2022

We’re just days away from 35,000 first home buyer scheme spots becoming available on July 1. If you’re keen to snare a place in the scheme – and buy your first home sooner – here’s how to get ahead of the pack. Have you heard about the federal government’s Home Guarantee Scheme? (previously called the…

Financial hardship arrangement reporting is about to change

July 18, 2022

With interest rates on the way back up, there’s no doubt some households around the country are starting to do it a bit tough. Coincidentally, some big changes kick in on July 1 when it comes to recording financial hardship arrangements. In the past, if you were unable to meet your loan repayments, you could…

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