Aussie Finance Blog

Australian personal finance news, tips and advices.

Know your strata title insurance to avoid paying twice

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When looking into property insurance, it usually doesn’t take too long before we come across a horror story about someone being under-insured, and discovering all too late that they’re seriously out of pocket.

What we encounter less of, is someone being over-insured, but according to Australian property insurance specialists, Flex Insurance, it’s potentially more common than we think. And it all comes down to knowing what’s already covered by your strata insurance and what you need to cover under your own contents or landlords’ insurance. ... (read more)

Choosi Dollar Report Provides Insights on Aussie Money Management

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Personal finance isn’t a very fun topic to discuss at dinner parties. However, consumers need to be financially literate if they are to thrive. The Choosi Dollar Report 2019 researched the spending habits of Australian citizens and their understanding of financial issues.

A number of important issues were highlighted in this report. The key points are listed below. 

Are Australians Stressed About Money?

Australians have become more uneasy about their financial situations in recent years. The report shows that half of Australians experience concerns about their money on a weekly or even daily basis. The majority of Australians are unable to maintain the same standard of living, as inflation erodes the value of their paychecks. The survey showed that 62% of Australians said they were unable to keep up with cost of living increases. It also showed that 44.6% of Australians feel anxious about their debt at least most of the time, if not all of the time. ... (read more)

What are Credit Card Instalment Plans?

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Several different credit cards let cardholders pay off a portion or some of their outstanding balance through an instalment plan. These payment options break down your balance into monthly instalments spread over a fixed time or predetermined rate. For example, if you had a $1,000 balance and set up an instalment plan over ten months, you’d pay $100 per month instead of paying it all off at once. This is a basic calculation used as an example only, it does not include the addition of interest to the amount borrowed. ... (read more)

6 tips to save on your mortgage interest

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Taking out a mortgage is the largest financial commitment that most Australians will make in their lifetime. If you invest in a property you could be making repayments for the next 30 years. This article will focus on a number of tips that can help you save interest on your mortgage and pay off the debt on your home at a faster rate.

1. Pay large sums into your loan

Rather than spending any large lump sums you receive, pay them straight into your loan. Think of larger windfalls as an excellent opportunity to reduce the overall interest on your loan and therefore the overall cost of your mortgage. Unexpected windfalls can include: ... (read more)

What to look for when deciding on a super fund

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Apart from buying a house, superannuation is likely to be one of the biggest investments that you will make in your lifetime. Understanding your options and making the right decision can make the difference between scraping by or having that well-deserved, worry-free retirement.

In 2005, new legislation was introduced that put the power of super firmly in the consumer’s hands and gave many Australians like yourself the power to choose which fund your contributions would be made into. ... (read more)

Tips on How to Save Money in Sydney

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Breathtaking landscapes and seascapes, vibrant urban life, laidback lifestyle—these are what pull people to Sydney. However, Sydney is not just the biggest city in the country, it is also the priciest. In fact, the UBS ranks Sydney as among the ten most expensive cities to live in. Basic expenses alone already cost around $2,500 for a family with one to two children. Ten years ago, a 2010 survey by the Sydney Business Chamber indicated that half of the survey respondents believe they need $100,000 or more per year to live comfortably. ... (read more)

How to Be Frugal in Australia

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Living a frugal lifestyle in the era of social media, where everyone flaunts what they have and where they’ve travelled to, can be quite challenging—but there’s nothing great about living paycheque to paycheque either.

If you aren’t conscious about your spending, you might end up accumulating credit card debt. It will only eat away at your limited earnings as well as the money you’ve set aside for emergencies. As a result, it can easily compromise your financial future. ... (read more)

How to Choose an Air Purifier for Bushfire Smoke

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Last updated on 11 January 2021 with new product info.

There are the dismal statistics we read about the direct effects of bushfires that burn for months in different parts of Australia. Australia is often severely affected by bushfire smoke that’s blanketing the country. There have been instances of asthma, breathing difficulties and other respiratory ailments in Sydney and other cities. People have been advised to stay indoors to avoid exposure to bushfire smoke. But while commercial buildings are equipped with HVAC systems that have filters, homes aren’t always equipped with such systems that protect family health. This is why home purifiers have been in high demand for most people lately. ... (read more)

The top traits to avoid in a mortgage broker

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All Mortgage Brokers are not born equal. Like any service business, the quality of brokers’ offerings can vary from company to company and from broker to broker. This article will explore the qualities that you should avoid in a potential mortgage broker. Use this information to find a broker that will take the time to understand your situation and secure a mortgage product that’s right for you. ... (read more)

How to choose the best mask for bushfire smoke

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Post updated on 11 January 2021 with new product info.

Smoke mask is not a topic I would normally write about but given the circumstances (large bushfires in Australia), I think it’s important that we talk about the risks and options we have to protect ourselves and our family (including our pets). Scroll down if you are interested in the smoke masks only. I also found a smoke mask for dogs.

Protect Your Family from Bushfire Smoke

It was nearly the holiday season and the end of 2019 was just around the corner. But with dozens of bushfires raging all across the country, Australia was in a state of crisis. South Australia shut down more than a hundred schools due to a catastrophic fire warning and even those further away from the actual flames were suffering from the effects of wildfire smoke. ... (read more)