Close
Enter your
text here
Posts By :

Credit Simple

Why you should start investing in your 20s

Have you ever thought about investing your money in things that aren’t going to give you immediate returns? Building wealth in your 20s in Australia might not seem necessary, but the earlier you put money into long-term investment strategies, the more benefits you’ll get over time. Compound interest in a savings account can help you to achieve your financial goals. Essentially it works by adding any interest your initial deposit earns to the same account, and the next interest payment…

read more
What to do if you’re a victim of identity fraud

Everyone knows someone who has been a victim of fraud. It can be a total nightmare when a cybercriminal has dipped into your bank account, stolen your credit card details or taken out credit in your name. In the short term your credit score is going to take a dip because you can’t simply delete it. Don’t despair, however. You’re not the first person in this situation and it can be ironed out. There are a number of different types…

read more
What could you save by removing extras from your shopping?
Budget Betty: What could you save by removing extras from your shopping?

Are you throwing money away every week on your shopping? Think online shopping for clothes you absolutely don’t need, or popping into a nice store because you like the look of something in the window and then walking out having spent $300. It’s okay – we’ve all been there. But putting thought into saving money on your shopping in Australia can help you to keep your bank account healthy, which means you’ll have enough money to pay your bills and…

read more
5 things to remember about your finances when traveling

How long can you really afford to travel for? It’s a tough question to ask yourself, because ideally you’d constantly be jet-setting around the world and having a great time, but it’s unlikely that you can afford that. Even taking a month off can be a struggle when your income stops but the bills don’t. That’s why it’s vital you remember exactly what you have to pay for even when you’re not in the country, or staying at your home.…

read more
Has Cupid’s arrow struck? Don’t date your way into debt

We know your new girlfriend or boyfriend wants to go out every Friday. Even two drinks each, some snacks and an Uber ride home could set you back $50. It’s dead easy to blow $100 if you throw food in as well. What’s more, dating can send your credit score south. Fast. Let’s say you spend $150 a week going out, $300 a couple of times a year on a weekend away, $200 on his/her birthday, and flowers or chocolates…

read more
How long does it take to recover from serious financial difficulty?

If you’re on the verge of a serious financial problem, you need to act quickly. Going bankrupt or having multiple defaults listed on your credit report can severely impact your future ability to take out a loan or open a new line of credit. Lenders will look at your financial past, see that you’ve been unable to handle your finances, and potentially refuse your application. Examples of a major financial misstep include going bankrupt, failing to repay multiple debts over…

read more
Are Australians asking the right people for financial advice?

Everyone’s an expert these days. From an Octopus making predictions on the 2014 FIFA World Cup to Dr Phil not even being a trained psychologist, all kinds of so-called professionals are waiting around every corner to help you find a better budget, a better home, a better you. The thing is, many people that Australians go to for advice – especially on their money – are not necessarily the best option. In fact, research shows nearly 3 million Australians are…

read more
Is postpaid mobile worth risking your credit score?

Black marks on your credit score can come from many sources. Mortgages and bankruptcies might be what most people think of, but it’s important to understand the everyday things that can impact your credit rating – such as your mobile phone use. When the Australian Communications and Media Authority revised existing legislation and recommendations in 2012, it found that people had spent $1.5 billion on the wrong plan. While there have been many changes since to help people who experience…

read more
You say you want a resolution?

For most of us, the New Year is a popular time to set personal goals and look back on the what we’ve achieved in the last 12 months. But with all the goodwill in the world, it can be hard to turn resolutions into results. People who study behaviour for a living reckon that for a resolution to actually work, it needs to tick five boxes. Happily, the five boxes spell “SMART,” making them not just easy to remember but…

read more
How does my credit score affect mortgages and other loans
How does my credit score affect mortgages and other loans?

The majority of purchases we make in our lifetime are affordable enough for us to either buy outright or save towards over time. This is rarely the case for high-value assets such as houses, cars and other expensive items. Statistics show that the average property price across Australia’s capital cities reached $625,000 in July 2017. A new vehicle is cheaper (and cars are apparently more affordable than ever before, but still a considerable expense nonetheless. Even renting an apartment comes…

read more