ME Bank

Tracking your spending can change your life

New research from our friends at ME confirms that tracking spending has a powerful influence on your ability to save and set money goals.

ME put four participants to the test by asking them to track their spending for an entire month using ASIC’s TrackMySpend app.

Overall, all participants agreed the exercise empowered their money management in three major ways:

How first home buyers can boost borrowing power

When it comes to maximising borrowing power ahead of buying your first home, a deposit is important, but it isn’t everything. A range of factors work together to shape your borrowing power. Read on for some tips from our friends at ME.

“How much can I borrow?” was Google’s most popular home loan question in the past 12 months. 

ME’s analysis shows Australians made the enquiry more than 25,000 times, highlighting the dilemma housing affordability is causing many buyers. 

5 reasons your savings are going backward

If the halfway mark of 2017 sees your savings looking a little lean, you could be caught in one of five money traps.  Our friends at ME have identified the hurdles reported by Aussie savers and have some handy tips on how to overcome them.

At the start of a new financial year, it’s the ideal time to check your savings progress. 

If you’re on target with your goals, give yourself a pat on the back. If it turns out you’re falling behind, read on to see if you’ve fallen into one of the five key traps that keep pushing the goalposts further out.

Secrets to getting out of credit card debt

If you don’t pay your credit card off each month, follow these simple steps to take control of debt.  

Are you a ‘revolver’ or a ‘transactor’? Credit card holders can be largely divided into two camps – revolvers, who don’t pay off their card in full each month, and transactors, who always pay off their card in full to avoid any ongoing debt. 

Your money bucket list to get back on track in 2017

Be a boss of money matters this year by drawing up a money bucket list. It could make 2017 your most prosperous year yet.

Your money bucket list represents personal goals that individually, and collectively, improve your finances. Take some time to think about what would really make a difference to your financial wellbeing (no, we’re not talking Lotto wins), then follow ME’s three-step guide to make your money bucket list a personal blueprint for a prosperous 2017. 

    1. Pick your top three goals

SPEND WISELY THIS FESTIVE SEASON

The festive season beckons, with end-of-year parties and gift giving characterising the last month of the year. While it may be tempting to blow off some steam by letting loose in the shops, it could pay in the long-run to formulate a loose spending plan. 

ME Chief Marketing Officer Rebecca James advises consumers to devise a concrete plan of attack before hitting the shops. 

‘It’s fun to kick up your heels at this time of the year. But it’s also important not to party yourself into poverty and start the New Year on a financial back foot. 

SIX MISTAKES TO AVOID WHEN SAVING

Growing a healthy honeypot of savings is simple – especially if you know the mistakes to avoid. ME Bank explains six potential stumbling blocks to watch out for to make saving even easier.

1. Believing you need a lot to get started

Big things grow from small beginnings, right? The important part of building savings is not how much you save but how consistently you save. Over time, even modest deposits can add up to an impressive pool of cash. 

A financial gap is growing between Australian generations

Sure, by the time we reach our 50s, half marathons may be a distant memory, and when a friend mentions ‘clubbing’, you’re more likely to reach for a 9-iron than a pair of dance shoes. 

However new research by ME shows the ageing process has some important upsides, including one very special advantage – increased financial comfort.

Seniors enjoy 16% rise in comfort

Pages

Subscribe to RSS - ME Bank