Credit Simple, Author at Credit Simple

Did you know the first credit card was made of cardboard? Here are five random (but fascinating) facts about credit cards

16 October 2017

The first credit card was cardboard The first independent credit card was Diners Club, founded in 1949 after hungry co-founder Frank McNamara took clients out to dinner and realised he’d left his wallet in another suit. His wife paid the bill and Frank thought up a charge card that would help him avoid embarrassment next time. He pitched the idea to the restaurant owner, and next day consulted his lawyer to get the ball rolling. Frank’s first Diners Club card…

Boost your savings with the Three Ts (track, trim, and target)

By: Credit Simple

18 September 2017

Saving is the worst. I cannot save money. I just can’t. I look at my payslip each month and take out the rent, the food, the car, the power, the water, the gas and there’s barely enough left to pay for the odd drink after work let alone save up for a deposit on a house or anything stupid like that. I know I was supposed to pay myself first but somehow that just never worked out. By the time…

Want to keep your money safe online? Think about your underpants

By: Credit Simple

11 September 2017

Budgeting, planning and all the good credit habits in the world are no good if someone goes and nicks your hard-earned money. These days, though, the bad guys are unlikely to turn up with stockings over their heads and big sacks marked “swag”. Digital crime – money being stolen directly from your bank account – is on the up. There are two ways this can happen, and one is a lot more common than the other. “Hacking” is what most…

Nine ways to sabotage your own credit score

By: Credit Simple

4 September 2017

I’m working hard to improve my credit score these days. In the past I was a bit of a bad boy when it came to paying bills – so I’ve been looking into what will kill your credit score, and fast. Real fast. Your credit score, which is sometimes referred to as your credit rating, will generally range from 0 to either 1,000 or 1,200 depending on the credit bureau calculating it. Your illion score via Credit Simple will range…

Eight ways to dine out on a budget

By: Credit Simple

31 August 2017

Saving money doesn’t mean saying no to dinner dates. It’s totally do-able to dine out without spending big. Here are eight tips to spending small when dining out: 1. Avoid share plates. It’s hip to share, right? Well, not when it comes to your wallet. If you’re eating out with a group and everyone is sharing food tapas-style, it’s all too easy to blow out your budget. Those delicious dishes at $15 a pop may seem like a small amount,…

Wanting to get a foot on the property ladder? Here are five strategies to help you get there

By: Credit Simple

25 August 2017

As a young would-be home buyer, it can be tough getting a foot (or even just a big toe) on the property ladder. To help set Aussies up for success, CreditSimple.com.au spokesperson Emily Price provides her top tips for first time buyers to get started. 1. Use your score to leverage a better deal “The first step is to check your score via CreditSimple.com.au. If it’s above 700, you’re an attractive customer and you should pick up the phone to see…

Know your rights: What to do if you’re being chased by a debt collector

By: Credit Simple

19 August 2017

There’s nothing like owning a ferocious guard dog for dealing with debt collectors. Chomp, chomp, chomp. There goes the arm of that dastardly fella. Well, not really. Setting the dog on the debt collector isn’t going to solve your problems – it’ll just make them worse. Debt collectors don’t even taste that nice (or so we’re told). It’s easy to stick your head in the sand when you can’t (or forget to) pay a bill. But leaving all those envelopes…

Six ways to save money while on holiday

By: Credit Simple

17 August 2017

Living life large while on holiday doesn’t mean blowing your budget. It’s possible to enjoy every minute of your well-deserved break and possibly come home with cash to spare. Here are our tips to travelling well while spending less: 1. Package it up There was a time when the phrase ‘package deal’ made us think of budget airlines, cramped hotel rooms and noisy, sunburnt tourists. Now, thanks to companies like Luxury Escapes, it’s easy to nab a great deal to…

How a $560 phone bill stopped a home loan application dead in its tracks

By: Credit Simple

14 August 2017

It’s easy to go through life ignoring your finances. Money, bills and investments are topics that are often thrown in the too-hard basket, and we live with the mindset that if we pay the bills, our finances should be in order. But it’s not quite that simple, and as Melbourne resident Krystle* discovered, something as small as a late payment can come to haunt you years down the track. “I’ve always been a really organised person,” Krystle says. “The importance…

Beat your brain (and better your bank balance) by understanding thought processes

By: Credit Simple

6 August 2017

Is everything you do with your money logical? Don’t fool yourself. Human brains were designed for fight or flight. There’s emerging research showing that even the smartest humans make stupid financial mistakes thanks to our prehistoric brains. Neuro-economists have found longs lists of “cognitive biases” behind why our financial decisions are so flawed. They’ve found that both amateur and professional investors alike are tripped up by inadequate evolution. So when you next fall into the needs versus wants trap, borrow…