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LowerBills Personal Finance Blog

In the section below you can read articles on Australian personal finance - from tips on how to choose the best credit cards, home loan comparison advice to personal loan and bank account tips; plus the latest Australian personal finance news that affects you.

 

Read up on the subjects that interest you and why not leave a comment below the post and let us know your thoughts.....

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Category Archives: Australia Banking

Find Out – Are You Mr. Average Australian Borrower?

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Are you Mr. Average when it comes to borrowing money?

Are you typical of Australian borrowers? Needing a couple of hundred dollars to tide you over until pay day? Or have you sat down, prepared your budgets and are on top of your personal finances, knowing what’s coming in and when and what’s going out and when?

There is very little middle ground here – unless you are the latter you may well be the former!

The New Study by the Commonwealth Bank of Australia

The Commonwealth Bank recently surveyed about 2,000 people and found that the average person borrows $200 per month to make it to the next pay day, quite apart from any other lines of credit that they have like home loans, credit card balances, car loans or personal loans. Continue reading →

What Is The EFT Code And How Does It Affect You?

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Electronic Funds Transfer

Who’s watching and how are you protected?

Whenever you use your credit card, an ATM or make any electronic financial transaction, there is a slight risk of something going wrong; we all know that computers and machines have faults and can be open to manipulation or fraud.

In fact several high profile fraud cases have recently raised their head and have got many Australians wondering how they are protected by legislation.

Below we take a look at the Electronic Funds Transfer (EFT) Code and how it affects your financial transactions.

The EFT Code

Basically the EFT Code is a code of practice created by ASIC in 1986 and revised a few times since; almost all Australian banks, building societies and credit unions have signed up to this code and the good news is that it protects you when you are making EFTs. Continue reading →

How To Minimise Foreign Currency Costs With Australian Bank Accounts

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Foreign Currency Costs

Foreign currency costs can ruin a holiday!

Many an overseas holiday has been spoiled by a credit card or bank account statement greeting you on the welcome mat as you return!

Even though we are benefiting from the strong Australian dollar, the costs of withdrawing cash overseas can catch unsuspecting Australians by surprise; so before you venture abroad check with your bank or card provider exactly what you’re going to be up for.

Here are some tips for paying less in currency conversion fees:

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