Homebuyers are set to reap the rewards from the Stage 3 tax cuts with the opportunity to pay off their loan faster and in some cases save over $150,0000 over the lifetime of the debt. While the average tax cut will be $1888 per year, the value of those taxContinue Reading
An alarming amount of mortgage holders are resorting to drastic measures, including selling their homes and personal belongings to cope with the financial strain of rising home loan repayments. Almost half of Australian mortgage holders have considered selling their home, personal items, valuables, investments, car or business to offset theContinue Reading
Australia should prepare itself to mourn the death of the middle class as the once-famed land of opportunity and birthplace of a fair go transforms into a state where the only way to get ahead is to have rich parents. That’s the warning from economists, investment experts and social servicesContinue Reading
A post in a popular personal finance forum sparked fierce debate about what’s considered a good salary these days, with many claiming six figures no longer cuts it. Not too long ago, an aspiration of many Australians just starting their careers was to reach the point where their annual payContinue Reading
The powerful people who control the purse strings of Australia’s biggest companies are worried about what lies ahead next year, coinciding with a warning the economy has “hit a wall”. Consulting firm Deloitte released its biannual CFO Sentiment Report today, which takes the pulse of big business by surveying 84Continue Reading
The new governor of Australia’s central bank is poised to make a decision on the nation’s interest rates just days into the new job. Michele Bullock took over Philip Lowe’s role at the Reserve Bank of Australia (RBA) earlier this month, with her first monthly meeting taking place on TuesdayContinue Reading
Secret briefings inside the Reserve Bank reveal a startling surge in the number of middle-class Australians on six-figure salaries seeking a financial crisis support. In July, members of the RBA’s Financial Stability division met with representatives from the National Debt Helpline – a resource offering those in need access toContinue Reading
It’s not just the colder weather Australians should prepare for. As the nation heads into winter, many people are about to pay more for electricity, health insurance and their student loan repayments. After months of climbing grocery prices and higher mortgage repayments for thousands of homeowners, health insurance premiums, HELPContinue Reading
Mortgage holders have been feeling the financial squeeze amid a campaign of interest rate rises from the Reserve Bank of Australia (RBA), which has put the official cash rate up in 11 of their last 12 meetings. Those who locked in historic low rates at the start of the Covid-19Continue Reading
Labor MP Anne Aly has come under fire for her choice of accessory while speaking in parliament about young Australians struggling with the cost of living crisis. During Question Time on Thursday, the Western Australia MP and Early Childhood Education and Youth Minister was asked to explain what was beingContinue Reading