So what does this all mean? According to a recent survey by Reuters, the decision to keep the cash rate at generational lows was no surprise to most Economists. If you are a retiree that has relied on your cash income from savings, you may have your hand forced to look for an alternative investment as your situation could be a little vulnerable.
A debt crackdown similar to the recent robo-recovery Centrelink debacle which sent bills to thousands of Australians is now shocking Airbnb hosts and leaving them with fines worth thousands of dollars.
One of the best ways we can teach our kids about money and money management is through pocket money. Introducing kids to a healthy savings plan from their pocket money can make a real difference to their future and give them saving skills that can last a lifetime.
The Reserve Bank of Australia (RBA), as widely expected, left the cash rate unchanged at 1.5% at the December 2016 Board meeting.
The Australian dollar was weaker against the strengthening USD throughout December. The AUD ended the month down 2.4% against the USD at $US0.7208. The AUD was also weaker against the other major currencies.
If you’re like most Australians, you’ll have some level of debt. But how much of it is really working in your interest? While some debt can help boost wealth, some can put a massive and unnecessary drain on your finances.
The Reserve Bank of Australia met on 1 November 2016 and, as widely expected, the cash rate was held unchanged at 1.5%.
The Australian dollar was mixed against most major currencies over November. The AUD was down 2.8% against the USD to $US0.7394 and also weaker against the sterling (-4.92%), but rose against the euro (+0.53%) and yen (+5.65%).