Category Archives: Money Saving Tips

How big is your slice of the household debt pie?

One of the ways the Australian Bureau of Statistics looks at household finances is to measure average household debt as a percentage of average household income. Over time, it shows whether households are becoming more or less indebted in relation to their earnings.

How big is your slice of the debt pie?

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Money advice from Jason, a budgeting expert (video blog)

Money advice from a budgeting expertJason is one of MyBudget’s personal budgeting consultants. His role is to is to help people understand their financial situation and develop a budget to achieve their financial goals. This month, Jason shares his insights about taking control of your finances, including how to talk with your creditors and the importance of rewarding yourself.

MyBudget’s September 2014 video blog

How and why to check your credit report

What does your credit report say?Earlier this year, we published an advisory bulletin about changes to credit reporting. Changes to privacy laws now allow credit reporting agencies to collect information about your repayment history on consumer credit payments. The introduction of positive reporting is good news for people who pay on time. But if you pay late, it means that those payments may now be appearing on your credit file. Partial payments may be treated as late, too. If you have any concerns, it’s worth checking your credit report. Here’s how to do it. Continue reading

10 credit card facts you need to know

10 things you need to know about credit cardsI got this question from a MoneyTalks reader: “My younger brother has just turned 20 and landed his first regular job. To mark the occasion, he’s applied for a credit card. How can I convince him that he doesn’t need one?” Great question.

Financial independence is an important part of the transition to adulthood, and it’s positive that your brother feels ready for it. What your brother may not realise is that he’s standing at an important launching point in his life. His twenties could set him up for a lifetime of financial fitness or for decades of debt. So, let’s dispel the myths about credit cards and focus on the facts that make them one of the leading causes of financial stress In Australia. Continue reading

Habitat for Humanity – Home Building Program

Habitat for Humanity Home Building Program Safe and affordable housing is a basic requirement of life, yet over a million Australian households experience housing stress. Fortunately, one charity group is doing something about it by mobilising communities, building new homes and giving people interest-free loans. Continue reading

Money advice from Bianca, a budgeting expert

Money management tipsBianca is one of MyBudget’s personal budgeting consultants. Her job is to help people think through their financial situation and design a budget plan to achieve their goals. In this month’s video blog, Bianca shares her insights and gives you her top money management tips for taking control of your finances.

MyBudget’s August 2014 video blog


Future of payment security—vein scanning!

Furture of wallet-less transactionsDo you remember when we used to have bank books? Or how about the old, crunchy credit card machines that used to make a carbon imprint of your card? Then we got cards that had magnetic strips inside and came with PIN numbers. The latest iteration is smart cards with radio chips and virtual wallets programmed into our mobile devices.

So what comes next? According to people in the know, the future of transaction security is “biometric authentication”, which basically means using body parts to verify our payment details. Continue reading