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Most young adults in their 20s are concerned with kick starting their career, enjoying their lifestyle and taking eye-opening and bucket-list-worthy overseas trips. Thinking about their personal financial goals is often low on the priority list.
Australians will ‘gift’ an estimated $10.7 million to their credit card providers in the form of extra interest revenue in January, new research has found.
According to the old saying, death and taxes are the only certainties in life. We can probably add credit cards to that list – from online shopping to liberating us from the burden of carrying cash, it would be impossible to live a hassle-free lifestyle without a bit of plastic.
Most would agree that credit cards can make life easier. If not handled correctly, however, they can also make life difficult. The best way to avoid getting bogged down in credit card debt is to understand how credit cards work.
Christmas doesn’t have to blow the budget this year, however. There are simple ways to cut the cost of the festive season.
We are on the home stretch to Christmas: a time for family gatherings, over-indulgence and hefty holiday-related expenses. Expenses can spiral out of control at this time of year as we buy gifts, host parties and go on holidays. With a little bit of planning and some creative thinking, however, you can rein in your expenses and minimise the impact on your wallet.
If you can bear to think about it, Christmas is less than three months away. And while millions are expected to pay for Christmas largely on credit again this year, savings are available if you plan ahead.
Despite low interest rates, stress levels are rising among Australian households, new research shows. We look at 10 simple steps to regain control of your money and take the stress out of your finances.
Australians are renowned travellers but if new research is anything to go by, we’re not so good at keeping a lid on holiday spending.
As more Australians fall victim to financial stress – a record number in the last financial year – now is the time to take control and get organised with household finances.
Signing for card payments to be phased out from next year under a new proposal from Visa and MasterCard.
We collectively owe around $49.3 billion on our cards – that's a drop of $1.25 billion over the last 12 months compared to $50.6 billion in June 2012.
The average Australian has more than one credit card and combined we pay an estimated $500 million each month in interest alone.
More cardholders are choosing to use their own money rather than credit and it has major implications for Australia’s financial institutions, according to the RateCity study.
While thieves did rip off more Australians and their cards, new research shows they are now stealing far less.
Credit card rates rarely make the headlines; a look at the figures shows just how little they’ve changed.
Only one-in-five organisations are aware they have experienced a “cyber incident” in the past 12 months.
RateCity found it would take 24 years and five months to repay the average credit card bill of $3282 if making only the minimum repayment each month.
RateCity research shows that the average credit card interest rate is now 17.21 percent – almost six times the RBA’s official cash rate.
The percentage of Aussies planning to take on debt in the next couple of months is at three-year lows, according to a Dun & Bradstreet Survey.
What do Mike Tyson and Dennis Rodman have in common? How about Perez Hilton and Donald Trump? Despite their fame a fortune these A-list celebrities have all graced the ‘B’ list at one point in their lives, famously filing for bankruptcy.
We’re among the world’s keenest online shoppers, but Australians are still losing millions of dollars every year to dodgy online sellers and scammers.
Australians owe about $50 billion on credit cards so it’s little surprise that many users are being hit with hefty interest charges.
Credit reporting and debt collection agency Dun and Bradstreet says the worst thing anyone suffering a debt hangover can do is ignore the problem.
Australians are expected to spend about $8.5 billion on Christmas presents this festive season, and almost a third have admitted feeling pressured to spend more than they can afford, research shows.