The Reserve Bank of Australia’s Statement on Monetary Policy released in February revealed that the household savings ratio was at its highest point in more than 20 years. According to the central bank, Aussies are tucking away 10% of their disposable income – that’s a massive swing from the mid-noughties when we were spending about 2% more than we earned..... Keep Reading »
In order to obtain debt relief you need to do two things at the same time. You will have to increase your income and save money at the same time. Now the economy has become such that only frugal living won’t help you save money. In order to manage the living costs, you will also have to improve the sources of your income. In addition to this, you will also have to try and lower your expenditures as much as possible. This too will help you in saving some amount of money. .... Keep Reading »
Phew. We’ve survived another start of the month Reserve Bank meeting without having to reach into our pockets and hand over more hard earned cash to the bank in the form of higher interest payments. The Reserve Bank met on Tuesday and decided, as many experts had tipped they would, to keep the cash rate at the same level for this month, and possibly another two or three months. And that’s good news for anyone with a mortgage or those of you looking to jump into a home loan in the near future..... Keep Reading »
The recap of this weeks mortgage, home loan and housing news in Australia.
The top stories for the week ending 11/05/08:
Real World Facts Emerge on ‘Mortgage Stress’
Genworth Financial, who provide Lenders Mortgage Insurance, have released details of a report indicating that out of the one million policies currently in place that 5000 of those may be classified as under stress being 90 days in arrears. (more…)
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Social networking is a web trend that is hard to avoid at the moment and, for many, names such as myspace and facebook simply roll off the tongue like a decades old well known brand names. There is also a new contingent of social networking and collaboration sites tailored especially towards finance. Let’s take a look.
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Saving a little money on everyday expenses and adding it to your home loan repayments can certainly help in getting that home loan paid of a little faster. Even if you are saving for a deposit it pays to look at your everyday spending and see where there may be an extra dollar or two to put away.
In some cases it may not mean sacrificing your standard of living just spending wisely and managing what you have.
One of the first steps is to have a budget. Start with listing all your monthly income and all your monthly expenses including debt repayments or deposit savings. Also allow for saving some money each month for emergencies ie doctor bills, car repairs and unknown expenses. (more…)
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