RateCity
How to avoid the trap of living pay-by-pay
For some it seems that as soon as we receive our pay it isn't long before we see our bank balance rapidly decline and we can't wait for our next payday to come. But if you look at where your money goes and what you can cut back on, you may be surprised. And what's more, it's simple and will help you reach your savings goal sooner.
Get back in the black this party season
We are well and truly into summer and fast approaching the party season. With the endless Christmas parties and New Year's Eve, these are undoubtedly the year's busiest months on the social calendar.
Say goodbye to debt: six tips for a clean slate
For most of us, our mortgage is the biggest debt we'll carry through much of our adult life. But debt comes in all shapes and sizes – furniture or appliances bought on interest-free loans, mounting credit card debt and massive car loans are all symptoms of our buy now pay later consumer mentality.
Hate paying fees? Here's how to avoid them
Bank fees are one of the certainties of life. They come under various names and guises, across pretty much every aspect of banking, so it's no wonder Aussies often cite fees as the primary reason for their mistrust of banks.
A parent’s guide to raising savers not spenders
Our money habits begin young. Learning the value of saving at a young age can help children grow into regular savers as adults. But instilling a savings mentality into your children isn’t always easy.
Australians have weathered the global financial crisis, rising interest rates, and staggering debts over the past few years and despite this, frugal savers have come out of winter with more savings than ever. For those wondering how you can best put your cash to work for the new season, here’s a handy guide that your wallet would love.
Savings goals and how to kick them
With almost $500 billion in our collective bank accounts, according to Australian Prudential Regulation Authority, Australians are serious savers.
Fancy a discount on your taxable income?
Saving money may soon become easier if a proposed Federal tax incentive gets the green light. It’s a timely initiative for Australians, which are saving more of their income now than in the past 24 years, according to Australian Bureau of Statistics figures.
The ins and outs of pocket money and saving
Teaching your children financial literacy at an early age creates behaviours that will carry them throughout life and effective lessons can be as simple as managing pocket money or a savings account.
Savings accounts: the little guys make a comeback
When considering a new savings account from a field of lenders, the majors often stand out from the pack while the little guys barely get a look-in. But increasing competition means these smaller lenders are vying for your attention, offering unbeatable deals.
RBA urges Australians to save during mining boom
The governor of the Reserve Bank of Australia, Glenn Stevens, is urging Australians to keep their funds in savings accounts while the domestic economy adjusts to the mining investment boom.
The art of saving and how to do it right
Saving might seem an almost impossible task in the face of constantly rising consumer prices, but mastering the art of saving is easy when you are armed with handy tips and a good online savings account.
Don't get trapped by your savings plan
In a society where credit is easily available, saving can often be neglected. Having a good savings record, however, is crucial when it comes to securing a loan or even applying for a credit card. While as a nation we are now saving more than ever, your savings plan can be derailed if you don't pay attention to common traps when trying to save.
Don't let your savings account leave on a honeymoon
When the internet started an online savings account revolution, it changed the way we saved. Interest rates on these accounts have gradually increased, so it's not surprising that recent Reserve Bank of Australia data reveals household savings mimics that of the mid-1980s.
Get your new year's saving resolution on!
At the top of many lists of New Year resolutions will be to save more money. The results of a recent survey by RaboDirect, however, show we're far from a nation of savers The good news is it is easy to turn around. Nearly half of the population put their money into a transaction or savings accounts.
Good saving habits to continue in 2011
After decades of riding the economic boom and neglecting their savings accounts, Australians rediscovered their frugal side at the onset of the global financial crisis in 2008 and have continued saving ever since.
When saving money actually costs you more
You will often hear the advice, "the more you save, the more you earn", but is that necessarily true? Can putting too much into your savings account be bad for you, or is it just a myth that retailers want you to believe?
Aussies could be missing out on $3.6 billion in interest
If you currently have money sitting in a savings account you could be one of the many people missing out on your share of $3.6 billion of unclaimed interest. But there is good news: all you need to do is switch accounts and find a better deal to get your share.
Want to save $9000+ in three years?
Options to invest your money seem to transform with each decade, as RateCity takes a peep into the world of Cash Management Trust accounts and looks at some of the best savings choices for 2010.
Are 'save to win' accounts the best ticket to save?
When it comes to helping you save, more financial institutions are upping the ante as they implement new ways of attracting customers to "save and win". Save to win accounts are designed as an incentive to help people save as they usually require a minimum balance each month in order to enter the draw.
Aussies keeping up with their savings
Much like the TV series Keeping Up with the Kardashians, life is pretty busy. Between work, catching up with friends and family and trying to stay fit and healthy, it's hard to not lose track of time - not to mention the affect your lifestyle can have on your savings. But the good news is that more Australians have been keeping up with their savings.
Victorians are the best savers in Australia
RateCity looks into how Australians feel about their savings and why Victorians are shining over the rest of the nation. Let\'s face it, saving can be hard; it can sometimes feel like a vicious cycle of money going out as fast as it comes in. But the good news is that while the feeling is mutual between you and your neighbour, you can do something about it.
Competition heats up: Virgin launches new online savings account
On July 27, 2010, Virgin Money launched its online savings account at an introductory rate of 6.75 percent, which is 0.24 percentage points higher than RateCity\\\'s current highest online savings account. Over the past six months interest rates for online savings accounts have been on an upward slope.
Cook up a storm: the right ingredients for a healthy bank balance
RateCity looks into why Australians are stashing their money and shows you how you can get in on the action. Australians love cooking good food. By following the recipe and adding the right ingredients, your efforts will pay off with a healthy investment at the end. Recently, Australian households have been using this approach and applying it their savings.
Use your tax refund to start a savings account for your kids
Why not consider using all or a portion of your tax refund to invest into your children\'s future? Obviously this will depend on how much you get back and how many kids you have, but think about depositing a chunk into a high interest savings account to accumulate over time.
