Savings account news and advice

All the latest savings account news and top tips to help you manage your savings account.

Winners announced in the 2021 mozo experts choice awards for savings and bank accounts

Winners announced in the 2021 Mozo Experts Choice Awards for Savings and Bank Accounts

If you’ve got some serious savings goals for 2021 or just want to limit the fees you pay for your everyday banking, choosing the right savings account and bank account is an all important step in your financial journey.Whilst it can be simple enough to know the features you want and don’t want with your banking, sifting through the hundreds of options out there can be confusing, but that’s where our Money Experts step in!The Mozo Expert Choice Awards not only help you down the right track, our awards also highlight some of the best products in the industry that offer everyday Aussies more bang for their banking buck.“With savings rates dropping dramatically in the last year, it’s more important than ever to proactively manage your money and get the best deals you can find. It might not seem like much, but a 1% difference in your savings rate can add up in the long run,” said Peter Marshall, Mozo Experts Choice Awards judge.    And the winners are…

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Could christmas club accounts be a savings option for 2021

Could Christmas club accounts be a savings option for 2021?

Now you might be thinking it’s February, why are we still talking about Christmas? Well we’re not really, more a nifty way to save money. In fact, one that the Customer Owned Banking Association (COBA) is encouraging Aussies to think about in 2021.

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Mozo s comfort spending report 2021

Mozo’s Comfort Spending Report 2021

Baking bread, making frothy coffee and binge watching a documentary about a man and his love for tigers - there’s not much we didn’t do in 2020 to stave off boredom. But according to new Mozo data, we also spent time indulging in a bit of retail therapy. Mozo analysis shows that 1 in 3 Aussies have increased their comfort spending since the start of the Covid-19 pandemic. A massive 87% of Aussies admitted that they do comfort spend, with one in five frequently making comfort purchases. And if that wasn’t frightening enough, a Mozo number crunch found that the average Aussie is dropping $2,172 a year on comfort purchases, nationally that’s a jaw dropping $37,533,391,524! “Many of us have been cooped up at home and that has led to some sizable comfort spending. One in three people spent more last year on comfort spending than they had ever spent before,” said Mozo Director, Kirsty Lamont. “It’s no surprise that over half admit that their comfort spending habits put pressure on their budget.”

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How to make the most of money from your summer job

How to make the most of money from your summer job

Whether you’re still in uniform, studying at college or in between years at uni, the summer holiday stretch can be a great time to get some work experience. Of course, if you are lucky enough to land a job over the next few months, you’ll want to make sure you use your earnings wisely.

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Nsw government to distribute 100 vouchers to get aussies out about

NSW Government to distribute $100 vouchers to get Aussies Out & About

The NSW government will be handing out $100 worth of vouchers to be spent on dining and entertainment in a bid to help the sectors hardest hit by COVID-19.The Out & About (Dine and Discover) voucher scheme will distribute four $25 vouchers to all NSW residents over the age of 18. Two will be designated for restaurants, cafes and clubs, and two for entertainment venues such as cinemas and art galleries.Importantly, the program does not allow for spending on retail products, alcohol, gambling or cigarettes.The four vouchers cannot be combined and each voucher is single-use, meaning it will expire even if the cost of the outing is under $25.Treasurer Dominic Perrottet said the scheme will help revitalise small businesses across NSW, who have seen activity plummet due to social distancing measures and an erosion of consumer confidence. “We want to encourage people to open up their wallets and contribute to the stimulus effect,” he said.“The dining and entertainment industries were among the hardest hit by the pandemic and I would encourage people to use this scheme once it is up and running and to make sure they spend a bit extra on the way through too.”RELATED: NSW government announces plans to phase out stamp dutyTo be eligible for the voucher scheme, businesses must register with Service NSW and be designated COVID-safe.The vouchers will be made available in early 2021 via the Service NSW mobile app. But a trial of the program is due to commence in the Sydney CBD in December.The government could also take its cues from similar programs rolled out in the UK, in which use of vouchers is limited to less busy days throughout the week.

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