Can debt collectors take money out of your bank account?

If you find yourself struggling with an outstanding debt, at some stage you could be contacted by a debt collector. In this situation, remember that both debtors and debt collectors have rights and obligations. For example, a debt collector cannot take money directly from your bank account or salary without a court order.

What are the risks and challenges of an SMSF?

A Self-Managed Superannuation Fund (SMSF) may sound great on paper, as you get to decide where your retirement savings are invested. However, an SMSF may not be the best choice for every Australian, as they also come with their fair share of potential problems to overcome if you want to get the most out of one. 

What to expect from the December 2022 RBA meeting

As the final meeting of the Reserve Bank of Australia (RBA) board for 2022 approaches, most major banks are forecasting another hike to the national cash rate. This may not be the last rate hike we’ll see over the next few months, though it’s not yet certain when the cash rate will peak before the RBA puts rates back on hold again. 

Inflation slows slightly – what does this mean for you?

Newly released data shows that Australia’s inflation rate has eased slightly. But it’s not yet clear whether this will be enough to curb the likelihood of another interest rate hike.

What does homeowner's insurance cover?

Home insurance covers the cost of repairing your property if it is damaged or destroyed in an insurable event. These events could include natural disasters such as storms or fires, unfortunate circumstances such as falling trees, or criminal activity such as break-ins or vandalism.  

What can personal loan statistics tell Australians about borrowing?

When you apply for a personal loan or any other form of credit, it’s important to make a decision that will work for your household’s financial situation and your personal goals. It can also be worth looking at some statistics to see how your credit plans fit in with the wider Australian economy, so you can be more confident about the decisions you are making.

Housing affordability stopping first home buyers in their tracks – what alternatives are available?

A new report shows that housing affordability is still hitting first home buyers (FHBs) hard, with just 57% of FHBs thinking now is a good time to buy, compared to 67% last year. As pathways to traditional home ownership become harder to tread, many FHBs are open to alternative strategies.

Can an international student have a term deposit?

Banking for overseas students can be complicated, but you may still be able to steadily grow your funds as an international student by using a term deposit. 

Can I get a car loan if I am on disability benefit?

Not every lender will accept pensions or government benefits as income when assessing loan applications, though some lenders will. Borrowers on disability benefits can still apply for a car loan, though it’s important to calculate if you can comfortably afford the loan before you apply. 

How to budget for a home loan with a repayment calculator

Most Australians dream of owning a home. Even if this dream may seem out of reach, that doesn’t mean you shouldn’t start saving and researching how to reach your homeowner goal.