Banks tighten lending, reducing the maximum you can borrow
Some of Australia’s biggest banks have tightened their mortgage lending criteria, meaning you might not be able to borrow as much from them. How might this affect your next purchase? This week ANZ lowered a key lending cap, indicating it will no longer lend to borrowers with a debt-to-income (DTI) ratio above 7.5 (meaning people […]
What the!? Tesla came third on the new vehicles sold list?
Car enthusiasts around the nation got a bit of a shock this week when the Tesla Model 3 rocketed up the sales leaderboard to place third for all new vehicles sold in March. How did that happen? You might have seen an article by us a few weeks back about the sales of electric vehicles […]
How much have car prices gone up since the pandemic began?
Most of you would have noticed that car prices have gone up significantly over the past two years. But how much have they gone up exactly? Let’s take a look. You’re not imagining things – both new and used vehicle prices have spiked over the past two years (not to mention, house prices, petrol, groceries […]
What’s your debt-to-income ratio? And why do lenders care about it?
New data from the lending watchdog reveals almost one in four new mortgages are risky. How are they deemed risky? Well, it’s got something to do with your debt-to-income ratio, which we’ll explain in this week’s article. Your debt-to-income (DTI) ratio might sound complicated, but it’s really very simple to work out. Basically, your DTI […]
Thought about buying an EV? Interest rates for them are dropping
It wasn’t long ago that the idea of buying an electric vehicle (EV) seemed like a bit of futuristic science-fiction. But with interest rates on EV loans recently dropping to under 3%, going electric is now more in the realms of an everyday, mundane, household budget decision. According to the latest Electric Vehicle Council data, […]
What was Australia’s top-selling vehicle in 2021?
Some of us buy cars for work, others for play. So it’s no surprise that the top two cars in 2021 can do both. But which vehicle took the crown? Well, it was super close, so let’s have a look. Ok, let’s cut straight to the chase. Taking out pole position in 2021 was the […]
Homeowners nearly four years ahead on their mortgage repayments
Australian homeowners are loading up their offset accounts in record amounts, so much so that the average household is now almost four years ahead on their mortgage payments. Quick question: do you have an offset account (or several) attached to your mortgage? They’ve become quite popular in recent years, especially since the RBA’s official cash […]
Three (financial) New Year’s resolution ideas
Cut calories, increase your steps, abstain from alcohol: each year we set ourselves some pretty lofty New Year’s resolutions, most of which are doomed to fail. So why not add a nice straightforward financial goal to the list this year? Here are three to get you started. Ambition is an admirable quality, but somewhere between […]
Don’t drown in Buy Now Pay Later debt this Christmas
Christmas is fast approaching and there’s a good chance you’ve started turning your attention to gifts for family and friends. But be careful this silly season: more than half of Buy Now Pay Later (BNPL) customers are struggling to pay day-to-day living expenses. Christmas and overindulging: name a more iconic duo. But one temptation to […]