This is a very quick overview of the proposed changes as outlined in the 2010 Federal Government Budget. The proposed changes will need to be confirmed by the passing of any relevant legislation and thus all details may change.
A small change to the First Home Saver Accounts scheme was announced by the Federal Treasurer Mr Swan in the Budget last week to make them more flexible.
Two of the major expenses in most household budgets are groceries and petrol. With Australia’s two largest grocery store chains, Coles and Woolworths both offering a credit card with a rewards program and linked petrol savings programs, we take a look at whether getting one of these cards might be a good idea.
Are you worried about the increases in home loan mortgage rates? Are you considering switching to a fixed mortgage?
Given the recent trend of home loan interest rate rises, many home owners may be considering switching to a fixed rate home loan. Home owners are facing a similar situation as they did approaching the Federal elections in 2007. At that time the mortgage rates increased rapidly and many opted to switch to a fixed rate loan only to see the RBA rapidly cut rates due to the global financial crisis. Many borrowers who did fix were left with monthly repayments substantially higher than variable rate repayments. Now the RBA is trying to fight inflation, house pricing bubbles and bring rates up from historically low rates.
Financial literacy is a very important issue for anyone and it pays to start young. Smart parents can start their children off on the right path by introducing their children to banking at an early age by signing up for a Childrens Bank Account. Most banks offer special bank accounts specifically for children. A few of them even have special websites to help the education process.
Are you making regular deposits into a savings account? You might be interested then in finding out which bank products offer an incentive to regular savers. There are quite a few financial institutions that offer savings accounts with incentives to make regular monthly deposits however not all offer much in terms of a bonus. Read more to find those that do.
With the increase in official cash rates by the RBA of 0.25% you would expect that the savings accounts offered by the banks would also follow suit. Suprisingly you would be wrong.
If you’re thinking about saving up for a deposit on your first home then you should consider the government incentivised First Home Saver Accounts (FHSAs).
ING Direct the people who brought high interest savings accounts to Australia have a new everyday bank account with some great fee savings.
Citibank and Bankwest has upped the interest rate on their main savings account products. Citibank is now offering 5.71% for the first 6 months for new accounts whilst Bankwest has increased the introductory promotional interest rate on its TeleNet Saver account to match UBank USaver account’s 5.62%. The Citibank Online Saver has a standard interest …