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Avoid financial heartache this Valentine’s Day

Valentine’s day is just around the corner. And you know what that means: candle-light dinners, romantic water-side strolls, mouth-watering chocolates, exquisitely arranged bouquets and… your beloved’s outstanding debt?  At first you’ll be enamoured by that special someone’s talents and strengths but there will come a day when you have to face their flaws. And no, we’re not talking about letting one rip in the middle of a Netflix special, because we all do that. What we’re talking about here is…

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Is a secured personal loan right for you?

A secured personal loan is a personal loan in which you offer up an asset as collateral, essentially guaranteeing you’ll pay the loan off. If you don’t pay, the lender can take possession of that asset (in this case, known as the security) and sell it off to recoup their money. The most common type of secured personal loan is a car loan, where the car you’re buying is also the asset that secures the loan. Why take out secured…

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Lazy man yawning on couch
Why you should aim to be a ‘deadbeat’ – at least when it comes to your credit card

Are you a deadbeat? When it comes to credit cards, that’s actually a good thing. Yep, a ‘deadbeat’ is a term for someone who pays off their credit card in full and on time every month. Why a deadbeat? Well, if you pay off your card each month, the credit card company doesn’t charge you interest  –  so they won’t make any money off you. (Credit card companies also use the much more polite terms ‘non-revolver’ and ‘transactor’.) A whopping…

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Managing your finances when life throws you a curveball

Occasionally life will throw you a curveball that directly or indirectly impacts your finances: you’re made redundant, your furnace dies or you’re expecting a child and you realise you’ll need to upgrade homes in the not-too-distant future. The last thing you want is to dig yourself into a deeper hole because you weren’t able to manage the financial side of things. Here are some ways to avoid that, so that you can bounce back sooner rather than later. 1.  Put…

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Choosing a rewards credit card that’s right for you

Rewards credit card programs have exploded in recent years, offering everything from flights to merchandise to cash in your pocket. With so many options, it’s important to choose a rewards card that suits your lifestyle and preferences. Here’s how. What is a rewards credit card? Rewards credit cards typically work by letting you accumulate a certain number of “points” for every dollar you spend and you can later redeem these points for valuable goods and services like flights, household items…

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How to compare credit cards the right way

Comparing credit cards the right way can be rewarding, because there’s a credit card that can cater to almost every lifestyle and financial need. When you compare, you’ll be looking at everything from interest rates, to reward programs to promotional offers to fees. Compare credit cards by type of card Since you probably already know that closing your accounts too often can hurt your credit score, we hope you’ll keep your card for some time. That’s why it’s important to…

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Debt consolidation loan vs. balance transfer credit card – which one to choose?

When you consolidate your debt, you are essentially taking out one large loan and using that money to pay off two or more smaller debts. The two major ways you can do this is by applying for a balance transfer (BT) credit card or taking out a debt consolidation loan. This guide explores why you’d want to consolidate debt in the first place and then looks at your two options to help you determine which one is right for you.…

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What are neobanks and how are they different?

The term ‘neobank’ refers to a new crop of financial institutions that has been sprouting up throughout Australia and the rest of the world since at least 2017. What makes these banks different from traditional banks is that they have been reimagined from the ground up with a purely digital focus – to run seamlessly through an app and with no branches anywhere in sight. What are the benefits of using a neobank? The outside-the-box thinking common to neobanks offers…

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Here’s what a credit report actually looks like

If you’ve ever wondered what your credit report looks like, wonder no more. This guide will give you insight into your credit report, including what information it contains, how to read it, and why it’s so important. There are three main credit reporting bureaus in Australia, and you can access their version of your report in a number of ways, including in a written/physical format or through an online dashboard. Each variation may differ slightly in the way it’s presented,…

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7 ways to save money this holiday season

Here are a few tips to help you ring in the new decade with as little debt as possible. 1. Reconsider whom you need to shop for At different points in our lives, it makes sense to shop for certain people and not for others. For example, when our nieces and nephews are young, gifts are appropriate but when they’re adults, maybe a heartfelt card is enough. Go through your list and decide whom you really need to shop for…

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