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I love Christmas.
I love the trimmings, the trappings, the ribbon and the wrappings. So at the risk of not wanting to sound like the Grinch who stole Christmas…..
While you’re contemplating how much turkey/seafood/pudding you’ve consumed over the Christmas period – why not use some of that downtime to do an audit of your personal finances? (more…)
The Reserve Bank Deputy Governor, Ric Battelino, delivered a speech today at an investment conference on the latest economic and financial developments – and the news wasn’t all doom and gloom (more…)
There’s a change in dinner party banter occurring around many dining tables in Australia.
Gone are the conversations which centre around property prices and interest rates – only to be replaced by what good deal you can get on your internet, utilities, phone, groceries, petrol, car, insurances and basically anything that constitutes household spending.
In fact, it’s routine for someone to talk up which company or website they found their bargains through and how much they have saved in the process.
How times have changed. (more…)
Thanks to a 24 hour news cycle, we now have rolling updates on everything from around the world, if we choose to keep glued to our TV and computer screens.
And for some it’s quite addictive. Because just as reality TV has capitalised on people’s fixation to watch the good, the bad and the ugly of people’s everyday lives - so too has society’s appetite grown for watching global events unfold before our very eyes.
If we need a recent example, who can ever forget the Japanese tsunami?
But this has had more serious implications on matters of economic importance such as what might happen to official interest rates, because expert’s predictions can now change from da- to- day.
Just take the events of the last few weeks…
In early August analysts were tipping rates to rise because of higher than expected inflation figures for the June quarter. And then… as global sharemarkets all took a huge tumble thanks a still tenuous US economy and the economic situation in Europe, a rate cut was then being more widely predicted.
And most recently, RBA Governor Glenn Stevens last week told a parliamentary committee, that Australia is well positioned to tackle any further weakening of international conditions and that inflation data is “still concerning,” easing speculation they will cut interest rates.
It’s a bit like watching a tennis match, with volleys going back and forth. When really, all consumers want is some semblance of stability - which is difficult to attain in an information rich world where everyone can so easily promote their opinion.
So for borrowers, this abundance of information can be overwhelming and needs to be balanced out by starting to think about their goals again so that no matter what happens, you have a clear path to follow.
Keep your eyes on the prize, but remember that too much information can sometimes be a dangerous thing. And perspective is a wonderful bedfellow.
There is much debate on what the newly proposed Federal Government reforms for the banking industry will actually deliver in terms of tangible benefits for the industry and in turn borrowers – and much of that is because there is certainly more detail needed. (more…)
Working out exactly when the right time is to sell, is a little like working out the right time to fix a loan. In other words, it’s a tough one to call.
And at the moment (notwithstanding we’re coming into the Christmas season), it’s a challenging period to try and choose the right time to sell if that’s part of your game plan. (more…)
Another potential interest rate rise, another round of Christmas presents to buy, another end-of-year social function to attend – and another bank balance goes begging.
So let’s not pull any punches here – December is an expensive month any way you look at it. (more…)