Invest
Why Aussies should shop for better loan rates
Shopping around for a better rate on a mortgage or personal loan can yield hundreds of dollars in savings, according to Credit Simple.

Why Aussies should shop for better loan rates
Shopping around for a better rate on a mortgage or personal loan can yield hundreds of dollars in savings, according to Credit Simple.

Credit Simple chief executive David Scognamiglio says Australians can save “on average about $830” on their financial products if they are willing to shop around.
“There are a lot of challenger brands out there in the market pricing for risk, and particularly peer-to-peer lenders and some of the smaller companies,” Mr Scognamiglio told Nest Egg.
“You can get really sharp interest rates on personal loans, particularly if you have a good credit score so you can get down to that 7 per cent mark for a personal loan on a really good credit score if you shop the market well.”
Mr Scognamiglio said knowing your credit score was one way Australians could take advantage of better, risk-priced rates offered by these companies, adding that using your personal finance data to find better products is likely to become more popular.
“There’s a real drive for consumers to own their own personal financial information and I think we’re going to see that play out over the next five years,” he said.
“The government is building a set of rules and regulations to make the financial community provide consumers with access to their data in an easy electronic format where they can port it around, so we’re going to start to see this.
“If you’re a consumer, you really need to know what’s in your data, how to port it, and start to shop around the market for how they can use that information, because over the next five years it will result in better deals, easier ability to switch and a tonne of savings.”

Spending
Where are Aussies looking to spend their money in 2021?
Australians are increasing their spending intentions, with travel and entertainment set to be the big winners, a new report has revealed. ...Read more

Spending
Toyota returns $18m in JobKeeper payments
An unexpected surge in sales in 2020 has inspired car manufacturer Toyota to write an $18 million check to the government, returning the amount it received in JobKeeper subsidies and touting the move...Read more

Spending
Aussies spend up big during pre-Christmas sales
Consumers have taken advantage of new freedoms post-lockdown and pre-Christmas discounts as retail sales soared in November, official figures have revealed. ...Read more

Spending
Aussies unlikely to splash the cash following pandemic
Australian consumers are likely to cut back on discretionary items in 2021 with many re-evaluating their spending habits following the COVID-19 pandemic, new research has revealed. ...Read more

Spending
‘It’s back’: SA unveils second Great State Voucher
South Australian residences or those planning to travel to the state could save up to $150 as the government continues its support for the local tourism sector. ...Read more

Spending
Rise in health premiums at 20-year low, but there’s a catch
While the Australian government’s health insurance reforms have resulted in the lowest annual average premium change since 2001, according to experts consumers could still see a “whacking” prem...Read more

Spending
Young Aussies pressured to buy love this Christmas
Younger Australians are likely to spend more this Christmas as they equate expensive gifts with love, a researcher has found. ...Read more

Spending
Buying local this Christmas could raise over $1bn for small business
New research suggests that Australians could deliver an estimated $1.12 billion to the small-business sector this Christmas just by buying one more gift from their favourite local business. ...Read more

Spending
Where are Aussies looking to spend their money in 2021?
Australians are increasing their spending intentions, with travel and entertainment set to be the big winners, a new report has revealed. ...Read more

Spending
Toyota returns $18m in JobKeeper payments
An unexpected surge in sales in 2020 has inspired car manufacturer Toyota to write an $18 million check to the government, returning the amount it received in JobKeeper subsidies and touting the move...Read more

Spending
Aussies spend up big during pre-Christmas sales
Consumers have taken advantage of new freedoms post-lockdown and pre-Christmas discounts as retail sales soared in November, official figures have revealed. ...Read more

Spending
Aussies unlikely to splash the cash following pandemic
Australian consumers are likely to cut back on discretionary items in 2021 with many re-evaluating their spending habits following the COVID-19 pandemic, new research has revealed. ...Read more

Spending
‘It’s back’: SA unveils second Great State Voucher
South Australian residences or those planning to travel to the state could save up to $150 as the government continues its support for the local tourism sector. ...Read more

Spending
Rise in health premiums at 20-year low, but there’s a catch
While the Australian government’s health insurance reforms have resulted in the lowest annual average premium change since 2001, according to experts consumers could still see a “whacking” prem...Read more

Spending
Young Aussies pressured to buy love this Christmas
Younger Australians are likely to spend more this Christmas as they equate expensive gifts with love, a researcher has found. ...Read more

Spending
Buying local this Christmas could raise over $1bn for small business
New research suggests that Australians could deliver an estimated $1.12 billion to the small-business sector this Christmas just by buying one more gift from their favourite local business. ...Read more