Credit score, financial management & tips

Six ways to save money while on holiday

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…

Tips to save everyday on technology

By: Credit Simple

3 August 2017

Technology has become a crucial part of our everyday lives. Whether it’s talking, texting, catching up with family on social media or searching for the latest recipe to cook for dinner. However technology is increasingly becoming more expensive. Here are some tips to save money. 1. Understand your bills Understand the plan you are currently on. What are the fees and charges? Go through your bills and make sure you understand what the items are you are being charged for. If…

How to refinance your home loan and get greater value (yes please)

By: Credit Simple

1 August 2017

A home loan is the biggest financial commitment most Australians ever take on, yet too many have a set-and-forget approach that can cost us tens of thousands of dollars. Research from RateCity.com.au shows that many Australians stick with their initial lender – usually one of the big four banks – for way too long and for all the wrong reasons. “It’s too much effort,” we tell ourselves. “Paperwork is boring. It’s probably too expensive. I like having an ATM on the…

Why we don’t refinance our home loans (and why you should)

By: Credit Simple

17 July 2017

Most Australians stick with the major banks when they have a home loan, even though switching to a non-major lender could take years off their mortgage and save them tens of thousands of dollars. Home buyers cite a range of reasons why they don’t take advantage of better rates. These include dislike of paperwork, the perceived costs of refinancing, the effort of changing direct debits and the imagined inconvenience of dealing with more than one financial institution. But these concerns…

In the habit of ‘whacking it on the mortgage’? Start treating it like any other debt (and get ahead)

By: Credit Simple

13 July 2017

Need a new kitchen? Fancy that round the world trip? Just whack it on the mortgage. In 21st century Australia we extend the mortgage every time we have a bit of ‘spare equity’ built up. It’s like we’ve inverted the whole concept of borrowing and the aim of paying it off has disappeared out the window. If you don’t pay that mortgage down as you would other debt, you could be forced to work until you drop just to pay the…

Let’s play Pantry Survivor – are you committing the seven supermarket shopping sins?

By: Credit Simple

13 July 2017

Because I’m both a procrastinator and a multitasker I recently found myself avoiding work by cleaning the pantry while listening to a recording of the Hobbit. Unfortunately, owing to my overactive imagination, as I cleaned and found packets of things I don’t remember purchasing, I could hear the small but persistent voice of Gollum quietly hissing: “What has it got in its cupboards, hmmm?” I don’t want to admit to Gollum that we have eight different kinds of flour. “Is…

Fighting fraud: How biometrics and artificial intelligence are helping to keep you safe online

By: Credit Simple

10 July 2017

Once upon a time bank robbers needed guns and balaclavas. Today a mouse and keyboard can be more dangerous. Every year too many Aussies are defrauded by cyber criminals, resulting in annual losses of more than $2b, according to the Australian Institute of Criminology. One common fraud method is ‘phishing’, where the victim clicks on what looks like a genuine email from a company such as their bank, an online trading site, or another organisation. Except that it’s not their…

Tap into the sharing economy and rent your way to success

By: Credit Simple

31 May 2017

Are you a part of the sharing economy yet? If you’ve used Uber or Airbnb, then you’re part of it. But there’s plenty of other sharing businesses springing up, and one that we think looks especially interesting is the renting business. The internet has made it ridiculously easy to rent your stuff and get paid for it*. Take Rentoid, as an example. It’s kind of like eBay, with one crucial difference: the stuff in the listing isn’t for sale, its…