Macquarie Bank have just released a new account, it is called the Macquarie Cash XL. A simple to use, online savings account that earns you 7.75%pa^ on your balance.
Offering no minimum initial investment or ongoing balance plus earn full interest on every dollar in your account calculated daily, paid monthly. Unlimited free transaction to linked account and no establishment or transaction fees. Read the rest of this entry »
SavingsGuide.com.au would like to take the opportunity to let everyone know that the Government has released some exceptionally good incentives for First Home Savers. As a result there has been a lot of talk about different First Home Saver accounts to the point that it has become very hard to find all the information you need + compare them to get the best option available.
This ‘Guide to First Home Saver Accounts‘ will help those wishing to find out the following;
and explain everything that is needed to be known about first home saver accounts in Australia. Read the rest of this entry »
With Christmas coming shortly, I thought it would be appropriate to start looking at ways to reduce debt and tips on saving money so that you do not get into trouble with your debt over the Christmas period (or any period of the year really).
We will look at general ideas behind debt reduction along with revisiting some previous articles that have notibly helped readers of this website to reduce their debt.
In the past few weeks I have been reading a couple of books on how to pay off your mortgage quicker and save money on interest payments. These books are small and easy to read and almost seem to be general knowledge, but at the same time they are really useful for grasping techniques to save you thousands over the course of your 25 year loan.
The books are called;
Today I will list some interesting ways in which people could possible save money on their mortgage and start to own their own home years sooner.
Imagine cutting your loan term from 25 years to 16 years! Read the rest of this entry »
Margin Lending - ‘Oh Yeah! I have heard of that, isn’t that where you borrow money to invest in shares and then make money on the shares and pay the loan back after making a profit??’ Not quite!
Margin loans are quite useful for people who can borrow what they can afford to pay back safely.
Using a margin loan arrangement, the investor’s portfolio of shares and funds are used as security for the loan. The risk involved is that sometimes the market can drop below the level of security required by the banks and once this process has fallen far enough that the ratio of the loan to the portfolio exceeds the max. st by the lender, it (the bank) will step up and make a margin call. Read the rest of this entry »
This is an article I found on SMH.com.au today. It is all about the basics of Superannuation and I thought would be a great way to show everyone some very easy to remember and follow tips on Superannuation.
Superannuation is a way of saving for your retirement. Both you and your employer can make contributions that accumulate over time and this money is then invested in shares, government bonds, property, or other appropriate investments.
On retirement, or after disability or death you then receive the money (less charges and taxes) as regular periodic payments (ie, a pension), a lump sum payment, or a combination of both.
Employers must contribute to an employee’s superannuation fund. This is called the Superannuation Guarantee, which came into operation on July 1, 1992.
The amount of contribution is 9% of an employee’s wages (excluding overtime, leave loading and fringe benefits) Read the rest of this entry »
As most of you will know, Australian Super Funds have lost alot of money in the past 3months with all that is going on around the world. This is hard for people who wish to retire shortly as there money is extremely lower then what it should be due to exposure to the risk in the US markets.
Today I intend to look at the long term outlook of super funds in Australia and discuss tactics of what can be done with Superannuation in this time.
Is not looking good, the markets are down and so to are our super portfolios. Some people are removing their money now so they don’t lose anymore, but remember - when the market bounces back over the course of 3-4 weeks you could miss out on a day or so of 10+ % gains, a lot more then possible in safe hold cash deposits. Read the rest of this entry »
One of my readers recently sent me an email asking questions about having a seperate bank account for his investment property and the pro’s and con’s of seperating your investment property money from that of your everyday money.
This is a great question and I believe will help craft together some top information for people looking for how to setup a bank account specifically for your investment property and the reasons behind it. Read the rest of this entry »
We all want to save money, we all want to learn how to save money and we all preach the benefits of savings, yet we continue to struggle when it comes to having new ideas on how to save money. Today I thought it would be a good idea to just have a small chat and throw a few money saving ideas back and forwards for people looking for money saving ideas to get motivated.
In order to throw around multiple ideas, I thought it would be best to categorise the money saving ideas by who can use them. We will look at money saving ideas for the family, students, parents, mum and dad and pets. Read the rest of this entry »
I have been considering a term deposit for quite a while now, ever since there was great market volatility in Australia from 6 months ago until now. What are my reasons for considering a term deposit? That is what I would like to look at as term deposits are very much back in fashion this year and they will provide you with a good 6-12month investment strategy while the current market situation rides the waves of the storm. Read the rest of this entry »
