The NPP (New Payment Platform) is an innovative platform to give Australian consumers and institutions a new way to make everyday payments. Also known as the New Payments Platform, the NPP will allow Australians to make low-value payments 24 hours a day in less than 30 seconds. The system will operate seven days a week, 365 days a year, with no holiday breaks.

Since Australian business—just like the global economy—never sleeps, a round-the-clock payment system that can get payments into the right hands in less than a minute is a real boon for the country. The NPP is the real-time payments infrastructure that Australians need to kick their economy up to the next level. ... (read more)

How can you make more money when investing? And how do you protect your investments from market downturns and unexpected future events? The answer is diversification. If you’re looking to build your investment portfolio, diversifying is important.

A diversified portfolio can help protect your income and wealth during various stages of the economic cycle and provide good long-term returns.

Here are seven tips for diversifying your portfolio. ... (read more)

Open-end loans provide funds for projects, vacations, hobbies and more. They deliver access to an ongoing line of credit that can be redrawn and re-purposed anytime, if loan conditions are being met. Credit card owners may not be aware, but they also rely on a line of credit and an open-end loan. In other words, if a loan is flexible and doesn’t have an exact date for repayment, it is an open-end loan. ... (read more)

Fluctuating fortunes mean there will always be times when assistance is required to plug financial gaps, pay bills and keep the business afloat. There are options for quick finance, such as credit cards, but interest repayments can make them cost-prohibitive in many situations. An alternative loan option is a line of credit, with lower interest rates and other budget-friendly features.

A bank line of credit provides customers the opportunity to borrow additional funds or utilise equity. Banks extend lines of credit (LOC) for a multitude of purposes, from home renovations to business expansion and more. The most well-known of this loan type is the home equity line of credit (HELOC), usually used for renovating or remodelling established residences. A line of credit is also accessible to the self-employed, those with inconsistent earnings, and people wanting to get their business off the ground. ... (read more)

Bank cards are used for most financial transactions these days and people are familiar with the technology. However, there are differences between check cards, debit cards and credit cards that need to be understood. Bank cards can be used for financial freedom and financial restraint, ultimately assisting with money management – but only when used wisely.

Each type of card has its pros and cons, although they are all versatile and almost universally accepted. There are occasions where cash payment is still preferred, but almost everyone carries a check card, debit card or credit card. In fact, it’s not uncommon to carry a range of bank cards for specific purposes and payment options. Understanding the difference between check cards, debit cards and credit cards is relatively easy, as check and debit cards perform similar functions. ... (read more)

“Never invest in a business you cannot understand.” Warren Buffet

“Behind every stock is a company. Find out what it’s doing.” Peter Lynch

There are two key decisions in investment decision-making: the buy decision and the sell decision. By being aware of the common pitfalls of buy decisions, we can potentially save ourselves from a painful sell decision.

Social Proof

Social proof is an extremely powerful force. It’s often noticeable at intersections when a group of pedestrians are waiting to cross. Often, if one breaks rank, others quickly follow. ... (read more)