Aussie Finance Blog

Australian personal finance news, tips and advices.

Mortgage broker or direct lender? Which is best for you?

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Compensation for this post was provided by FindBroker. Opinions expressed here are my own.

Is there any real difference between a mortgage broker and a lender? While both parties can help you secure a loan, knowing the difference between the two will assist in deciding which would be better in your circumstance.

If you’re looking to purchase a property, for whatever reason, it’s almost sure that you’ll also be looking to secure a mortgage.
For most, this part is the most stressful, as you are required to give evidence of your credibility as a borrower. Additionally, you need to research all the available loan products to find one that’s suitable for your financial circumstances and has the features that you’ll require. ... (read more)

What is a Black Credit Card?

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Choosing the right credit card seems more complicated than ever thanks to a competitive financial marketplace and diverse product developments. Fortunately, Australian banks provide credit card options tailored to suit individual requirements. Banks generally differentiate their premium credit card options according to colours such as platinum, gold or black, while lesser cards are not as imposing or opulent in appearance. Most banks in Australia and around the world advertise their black card as the premium product. ... (read more)

inkl: Noise Free News

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Compensation for this post was provided by inkl. Opinions expressed here are my own.

Front page news used to be important. However, in the rush to position themselves as viable online services, many news publishers diverted resources toward gossip journalism, in-your-face advertising and even clickbait articles. The concept of newsworthy journalism and commentary has become clouded. Serious readers are often left out in the cold or diverted to pulpy headline articles about funny cats, dogs and babies at the expense of major world events. The time is right to introduce inkl, the noise-free news service that delivers only important news and information provided by the world’s leading news publishers. ... (read more)

Planning a Destination Wedding

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Compensation for this post was provided by OzForex Limited ABN 65 092 375 703 (trading as OFX). Opinions expressed here are my own.

Destination weddings have grown in popularity and are no longer just for the fortunate few. People travel more than ever, airfares are great value and the overseas destination could even be closer to home for some relatives. With the right advice and sound money management, planning a destination wedding becomes a very real possibility. ... (read more)

Are Rewards Credit Cards Worth It?

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In a world governed by finances, it’s often all too obvious that we need to make our own money work harder for us. Everyone likes to get the best possible interest rate or return on investments, with hard earned money tucked safely away. However, we also need to spend money, and anything saved at the point of transaction will reap rewards later on.

All of us have the capacity to reap at least some gain from a rewards credit card. First, we need to understand the name and nature of the card. Rewards are gained over time, with good financial management, while the card is used for as many transactions as possible. A large number of Australians earn and spend sufficiently to justify owning a rewards credit card. At this point we need to be warned that any card payment default or late payment will incur a fee or other penalties that will nullify rewards earnings. ... (read more)

5 Ways Australians Can Build a Balanced Stock Portfolio

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All investors want to achieve success and make a quick and sizeable profit on the stock market, but this is easier said than done. If trading stocks was an easy and guaranteed way to earn cash then everybody would be making a fortune off the markets and all swanning off into early retirement happy – but the reality is that it takes knowledge and skill to become a successful trader.

One way to improve your chances of success in the market in Australia, is to adopt a balanced approach to your stocks, and to develop the sort of versatile and robust portfolio which can weather any storm that the domestic and global markets can throw its way. Read on for our five top tips for success: ... (read more)

4 Ways To Smarter Finances This End Of Financial Year

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With the end of financial year upon us, so much attention surrounds how to get the most out of your tax, but there is real merit in planning all year round and saving important dollars too. It’s not just about saving at tax time!

Rate Detective CEO, Damon Rasheed (former economist for the ACCC) has some great tips on how to start the new financial year smarter, healthier and with peace of mind. Remove the stress of 30 June by using Damon’s advice to ensure your finances are in shape. ... (read more)

Do I have a Junk Policy?

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Compensation for this post was provided by Choosewell. 

The private health insurance industry has found itself in a bit of a pickle after customer advocacy group Choice recently ousted several major providers as proponents of ‘junk’ health insurance policies. Arguing that these policies represent a complete waste of money for consumers, Choice has demanded attention from the Federal Government. ... (read more)

What Personal Loans Are Easy to Get Approved For

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Anyone who has ever borrowed money knows it can be hard to pay back at times. However, borrowing is a bridge most of us need in order to quickly get ahead in life. Personal loans are the fastest means of acquiring funds for a range of purposes, but the first criterion is your ability to make the loan repayments on time.

If your earnings or income are high and you have a clean credit history, a personal loan will usually be approved. People on lower incomes need to tailor their approach to repayments that are make-able. You will need to provide evidence of current and ongoing expenses, revealing enough disposable income to furnish the loan and thrive . There are other stipulations, including Australian residency requirements, that will affect the application. ... (read more)

What is a home equity loan?

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This post is a response to Saundra Latham’s great article about the best home equity loan rates for 2016 (US), posted on the The Simple Dollar.

Paying off a mortgage results in more than just owning a home. The value of your home is a form of savings that provides negotiating power for other loan arrangements or investments. For many people, the downside of making regular mortgage repayments is the lack of ready cash or additional savings potential. A home equity loan can provide the solution, by allowing home owners to borrow money against the value of their home. This money can be used for any number of home improvements or other purposes. ... (read more)