save interest Archives - MO'R MORTGAGE OPTIONS

What’s changing with the RBA and their interest rate decisions?

RBA Feb 24 Cash Rate Decision The Reserve Bank kept the cash rate steady in February. However, a change to the RBA’s 2024 meeting schedule has commentators theorising about how this will impact interest rates changes this year. The RBA’s decision to keep the cash rates on hold at 4.35% earlier this month wasn’t unexpected, given the latest inflation data. Because after months of steadily rising living costs, inflation seems to be finally heading south, currently at 4.1% down from 7.8% in … [Read more...]

How can I maximise interest savings with my offset account for minimum effort?

You already have an 100% offset account as part of your loan, and you know it’s correctly linked against your owner occupied home loan.* With each monthly statement, you can see you're saving interest but you'd like to see if you can push those savings higher. Here's a few things you can try: Ensure all household income is paid into your offset account You should already have all wages, tax returns, investment income and windfalls (if you're lucky!) paid into your offset … [Read more...]

Do you consider yourself to be a ‘spender’ or a ‘saver’?

Are you paid weekly, fortnightly or monthly? New findings from Xero indicates that how often you’re paid may influence whether you’re a saver or a spender. Xero has gathered data to explore payday behaviours across the country, and revealed that rushes of 'payphoria' appear to sweep the nation each time we're paid. Spending big & the payday pinch Xero's findings revealed that one in three Australians spend more on payday than usual, because they believe they work hard and … [Read more...]

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