By Kate Browne

Nothing unravels a blossoming relationship quite like a bad credit history. Seriously!

Ok I know what you’re thinking “yeah right sure finance lady, it’s not about how you look or how you come across personality-wise or even if you are a dog or cat person it’s all about your credit report…give me a break.” And well that might be true, bear with me…. If you are going on a date it just might be worth checking your credit report – as well as the mirror – before heading out the door. ... (read more)

International money transfers are an increasingly important aspect of the global economy. With the pandemic forcing people to work from home, along with the rise in remote working and freelancing, even small businesses are reliant on international money transfers.

Once borders open up again, it’s easy to see how the growth of digital nomading, remote work, and globalisation in general is meaning that the overseas remittance market is ever-expanding. ... (read more)

Back in the 1980s, when Australia’s compulsory superannuation system was born, it was quite common for people to work for one company across their entire careers. Fast-forward three decades, and that notion is pretty mind-boggling, since today the average Australian worker could have up to a dozen or more job changes – and this is particularly so amongst Millennials. One effect of all those job changes is the potential to accumulate multiple superannuation accounts, especially when an employee simply ticks the box for their new company’s default super fund. And to be fair, how many of us in our 20s really took much notice of super? ... (read more)

Personal loans are in great demand by the Aussie public – just look at the figures.

This year, August saw $391 million worth of loans for personal investment (which doesn’t include property!) get approved – the highest that figure has been since way back in the middle of 2015.

If you’re one of the thousands of Aussies looking at taking on a personal loan this year, here’s 3 ways you can get the best deal for the buck. ... (read more)

Uni life taking its toll? If you seem chronically short of cash and struggling to pay for rent or groceries each week, you need a budget. A student’s finances won’t be princely sums to begin with, especially since we can’t work full-time amid our studies; but we can make our student finances stretch a bit further with some clever budgeting and some other financial tips.

Debt isn’t always bad: student loans for investing in yourself ... (read more)

Australians have a lot of financial obligations to keep track of. It’s not uncommon for a person to hold a dozen accounts with banks, lenders, service and utilities providers, clubs, retailers and more. Keeping financially afloat while the coffers are constantly diminishing is a wearying prospect, and the ongoing pressure of debt is a sign that things need to change. Loose spending and over-commitment can be reined in, but staying on top of finances requires a consistent and balanced approach. Often overlooked as a solution, a bank overdraft can provide smoother sailing for those who need to weather a financial storm.

The safety net of a bank overdraft provides peace of mind. Fluctuating fortunes can be balanced by using a bank overdraft for flexible access to money when it’s needed. When managed properly, an overdraft can provide leeway during times when money is short, with the account again replenished during more lucrative times. With an overdraft, funds are readily available, unlike other loan arrangements that lock borrowers in with rigid terms and conditions. Overdrafts have utility for both short and long term financial advantage when used wisely.

Advantages of a bank overdraft

A bank overdraft allows the withdrawal of funds in excess of the account balance. There are fees and interest involved, so understanding the advantages and disadvantages of a bank overdraft is essential to use it effectively. A history of responsible money management and a reliable income stream (or inconsistent but adequate earnings) are needed to access an overdraft facility. When used wisely, an overdraft can assist a person of average means to remain on top of finances, always having money on hand when required. There are quite a few bank overdraft facility advantages worth considering.

Timing the flow of funds is particularly useful for plugging cash flow gaps. Paying bills, clients and even employees can be difficult when expenses temporarily outpace income. Using an overdraft, it’s business as usual, without unwanted financial headaches and distractions.

Flexible bank overdraft arrangements mean the money is on hand whenever you need it. Interest is only paid on money used, so the overdraft facility can remain untouched and interest-free until needed. Flexible arrangements facilitate short-term and long-term overdrafts for meeting personal financial obligations and retaining composure even during occasional financial upheavals.

Late payment fees are an unwanted and unnecessary expense that way too many people experience on a regular basis. A bank overdraft facility will automatically make timely payments to business and service providers even when there is no balance in your account. Developing a relationship of trust and reliability with your bank results in financial give-and-take for everyone’s benefit.

Financial leverage is attained by accumulation of wealth, equity, and a good payment and credit history. A bank overdraft will ensure your credit record remains clean, while also helping you avoid embarrassing situations where a miscalculated bank balance leaves you short of ready cash.

Interest repayments on a bank overdraft are often minimal compared to other loans. With an overdraft, interest is only paid on funds utilised, whereas other loan arrangements demand regular and fixed monthly interest repayments.

... (read more)

Credit and debit cards have been in existence for decades and provide a familiar and convenient way to pay. The question is though, with the dash from cash, accelerated by Covid-19, what are the preferences of today’s Australian consumers when choosing between these two options? And what are the differences between debit and credit card protection?

To begin, we will explore the credit and debit card landscape in Australia. ... (read more)

It’s safe to mention that cryptocurrency is risky. For one, inefficient trading may lead to more financial loss than gain. Still, it’s possible to reduce potential losses and increase profit opportunities by understanding the fundamentals. In particular, you should learn the ins-and-outs of cryptocurrency maps, charts, and prices. 

Continue reading to know some essential aspects of these topics. By reading this article, you should gain sufficient knowledge of trading cryptocurrency.   ... (read more)

Getting approved for a loan or credit card isn’t always easy. Potential customers often have to jump through multiple hoops as part of the application process, and there’s no guarantee that this will result in a lender’s tick of approval either.

But this process may soon become easier for borrowers.

In late September, the government announced that it plans to stimulate the economy by removing the responsible lending obligation from the National Consumer Credit Protection Act (2009). ... (read more)