New limits for payday loans and consumer leases

The federal government is drafting legislation designed to help protect vulnerable Australians from being stung by payday loans, consumer leases, and similar small credit products.

Ranking Australia's states and territories by economy

A recent report has found that out of Australia’s states and territories, South Australia has experienced the strongest improvement in economic performance over the last quarter, though New South Wales remains at the front of the pack.

Affordability eases for owner occupiers, toughens for investors

While increasing levels of government regulation have made housing affordability tougher for property investors in recent months, conditions have eased slightly for owner occupiers as a result, according to the Housing Industry Association (HIA).

Bankruptcies and debt agreements hit highs

More Australians are struggling to manage debt, mortgage stress and financial hardship, with the number of bankruptcies and debt agreements around the country increasing over the past three months.

How much of my credit card should I pay off each month?

Credit cards offer a convenient way to borrow large or small amounts of money whenever you need it, which can prove very useful in the right circumstances. But of course, any money you borrow will need to be paid back, with interest over time.

ASIC shifts strategy from financial literacy to capability

The Australian Securities and Investments Commission (ASIC) is proposing updates to its National Financial Literacy Strategy, including shifting the focus to financial capability and outcomes rather than financial literacy alone.

More Aussies own less of their homes

The number of Australian mortgage-holders with little or no real equity in their properties has grown over the past 12 months, according to figures from Roy Morgan Research, placing them at considerable risk if they must sell or prices decline.

CBA puts focus on service, not sales

The Commonwealth Bank is continuing its recent charm offensive by changing how it pays its frontline staff. Rather than offering tellers financial incentives to make sales, the new system will reward the delivery of superior customer service in CBA branches.

Is Australia's future housing supply at risk?

An unprecedented number of Australian dwellings are currently in the development pipeline, according to the Australian Bureau of Statistics (ABS). With the average length of time between dwelling approval and commencement increasing, there is a growing risk that these projects could end up abandoned, potentially affecting Australia’s future building activity and housing supply.

NAB and CBA lead Big Four in CCR

Both National Australia Bank (NAB) and Commonwealth Bank of Australia (CBA) have announced that they will participate in Comprehensive Credit Reporting (CCR) in 2018, allowing more Australians the opportunity to improve their credit ratings by exercising positive borrowing habits.