Laine Gordon

Why Gen Y is broke $2.6B lent to friends

Generation Y is struggling to manage their finances, with the vast majority resorting to borrowing and lending informally between friends and peers, a St George Bank survey has found. Just what will it take for Gen Y to learn the savings lesson?

Fixed last year? Switch now and pocket $720 a month

Many Australians can save $720 a month by switching from last year’s high fixed rates to a variable home loan. Australian mortgagees may be panicking in light of the interest rate rise announced on October 6. RateCity has shown that borrowers, who locked in to a high fixed rate last year, may now have a window of opportunity to save money on their home loans, if they switch to a variable rate now.

Are you wasting $2,700 on home loan fees?

Interest may be the key expense of a mortgage but it pays to be mindful of ongoing fees that can significantly boost the overall cost of a loan. A review of more than 2,000 Australian home loans by RateCity has revealed that almost a third (29 percent) of loans come with ongoing fees, ranging from $3 per month to a hefty $35 each month.

Future suffering First home owners to battle rising rates

Thousands of first time home buyers have cruised into the housing market this year. However, with interest rates set to rise, many home owners could be heading towards mortgage stress.

Women and mortgages Tackle your home loan fears

If you’re a single woman and the prospect of finding a mortgage leaves you overwhelmed don’t feel alone - most women feel just like you. There are some positive steps you can take to become more confident about choosing a home loan.

Term deposits Vs savings accounts What's best for you?

Where should one stash their cash: savings accounts or term deposits? Australia may have escaped the full grunt of the GFC, but the new mood of thrifty restraint appears to be hanging around a little longer. This is the perfect environment in which to begin saving for that next rainy day or home loan deposit.

Smart ways to beat rate rises and mortgage stress

Falling behind in your repayments or suffering mortgage stress

Rudd's First Home Owners Boost How much is it really saving you?

If you are buying your first home you’re no doubt keen to get the Federal Government’s First Home Owners Grant as well as the First Home Owners Boost. With the cut-off date for the Boost fast approaching (December 31, 2009) you may be stressing about missing out.

Tax refund - Key to your savings fortune

It's tax refund time, which means millions of Australians are pondering whether to spend their payment at the shops, or put it safely away into their savings accounts.

Australia's worst savings accounts

How do you know when your savings account is on the nose and what should you do about it? The answers to the following questions will help you to determine whether your existing savings account is worth keeping or sweeping.