Savings Are Reduced with High Interest Rates on Consumer Debt
Bank savings accounts will soon suffer and may be depleted due to the increasing levels of consumer debt especially with another looming interest rates increase. This may in turn lead to a more pressing credit default problem that many people are now finding themselves trapped in. It is a good thing that the resources sector [...]
Strong Aussie Dollar Brings Savings to Consumers
The Australian dollar is trading well with a strengthened currency that allows many retailers to offer discounts and lower rates in the hope to attract more buyers. This is very timely especially when the holidays draw nearer. Shoppers will be gearing up for the expense but still on the lookout for good and cheap buys. [...]
Consumers Are Avoiding Withdrawing From Foreign ATMs
Ever since the Reserve Bank has initiated the on-screen cost warnings whenever you withdraw from your bank accounts, withdrawals have significantly declined. Warnings would say that there is a high cost incurred when you use foreign ATM’s fees. This is enough to sway a ban account holder to discontinue the withdrawal. Beginning March of [...]
The Intricacies of Bank Deposits During A Crisis
Bouncing back from the Great Depression the central bank, known then as the Commonwealth Bank, strived with great effort to compete in the banking business. By 1945, it was able to successfully hold almost 50% of the total deposits along with the state savings bank. Nowadays, the national savings agency could provide a wide array [...]
Do Not Let Your Savings Fall Prey To The Latest Consumer Fraud
A good number of Australians are now finding themselves easy victims to the latest scam that involves fake travelers’ cheques. Just recently, a retiree from North Beach lost more than $5000 worth of his bank savings. A con has chosen to target Western Australians and business establishments that are advertising online. Police warns individuals and [...]
First Home Buyers Need Huge Savings
If you are a first-home buyer then you would need to put more into your bank savings account because deposits now are 10% more. National figures show that it will now take 4.5 years to save for a 20% deposit as compared to the 3.7 years figure in the past annual report. This means that [...]