News

Read the latest Australian Finance, Banking and Business news, updates and reports.

  • Life in retirement keeps getting more expensive

    The latest rise in the Age Pension rate still falls short of what many people may need to have a modest lifestyle in retirement. Around 2.58 million Australians received a 1.78% government Age Pension payment boost on March 20 as part of Centrelink’s twice-yearly indexation review. They included the 1.76 million people who receive a full Age Pension, according to Department of Social Services December 2023 quarterly data, and a further 806,670 who qualify for part pension payments based on them having passed either Centrelink’s “income” or “assets” pension means tests, or both. The raise means the full Age Pension rate for singles has risen…

  • Memory loss, dementia and your money

    Memory loss can make it difficult to stay in control of your money. Things like checking bank statements or investments, or paying bills may become challenging. If you’re starting to struggle, it’s time to put some safeguards in place. A few simple steps will help you and your loved ones protect your money and prepare for the future. Start planning It can be confronting to think about what may happen when you can no longer manage your own money. But it’s important to start planning. Making a plan is the best way to have a say in things that will…

  • Planning financially for a career break

    A pause in super contributions can have long-lasting effects. Here’s how to plan ahead for super breaks. There’s a host of reasons why people take career breaks. Having and raising children, or taking an extended holiday or sabbatical, are the most common reasons. Vanguard’s 2023 How Australia Retires study, based on a survey of more than 1,800 working and retired Australians, found that 2 in 5 current working-age Australians (40%) expected to take some form of extended break from work during their career, probably between their twenties and fifties. Of those surveyed, 1 in 2 people under 35 years old expected to…

  • Giving your portfolio a caffeine inspired boost

    With interest rates likely to fall this year, borrowers could invest some or all of their mortgage repayment savings. Inflation may be coming off its high, but the retail price of coffee isn’t likely to lose any monetary steam. Depending on where you buy, the average cost across Australia of a regular-size takeaway cup of coffee is now around $5. For those needing a daily fix, that equates to $35 per week. The chart below isn’t the Australian share market. It’s the wholesale price of coffee since the start of 2019. The caffeine hit Source: Trading Economics The sharp rise in…

  • More money in your pocket, by paying off your mortgage faster

    For most of us, our mortgage is our biggest financial burden – and one that’ll be with us for decades. However, it’s important to remember that the life of a home loan doesn’t need to be as long as the contract suggests; you’re free to pay it off faster and take that financial load off your shoulders sooner. Chipping away at your mammoth mortgage takes a committed plan, so here are some savvy ways to be debt-free earlier than originally planned. Consider making fortnightly payments If you’re paying your mortgage off monthly, consider switching to fortnightly repayments. It may seem…

  • Choosing between a credit card or personal loan

    Personal loans vs credit cards Upcoming travel, car upgrade, Christmas festivities or home renovations on the horizon? If you need access to money to cover costs like these, you might be considering a personal loan or credit card. Choosing between the two can be tricky. We’ll explain the differences and why one may be a more suitable borrowing option for you. The biggest difference between a personal loan and a credit card is that with a personal loan you’re given a lump sum upfront, whereas a credit card you’re given a limit that you can spend up to. Both have their advantages and…

Load More