Have a goal in mind when you save.
Budgeting & Debt Tips for Australian Gen Yers
Y Money Matters is a website that provides tips on budgeting and debt for Gen Y in the context of the Australian economic environment. We aim to provide information that can be understood by the average Australian and encourage your participation.
If you have any money saving ideas you have implemented, stories of how you have taken control of your finances or a helpful debt consultant let us know.
RBA cuts cash rate to 2%
The RBA cut the cash rate to 2%, so what impact does this have on your debt and budgeting?
If you have a mortgage on your own home or an investment property, this may be good news for you as your bank may cut your interest rate on your loan (if on a variable interest rate). Home loan interest rates in the past were adjusted down or up in line with changes to the cash rate by the Reserve Bank of Australia (RBA). However in recent times, banks have broken away from this to a degree and may only pass on part of a rate cut, on the other hand they usually pass on the increase in full!Read More