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The RBA has increased the official interest rate from 0.10% per annum to 2.60% per annum since May 2022. As lenders pass on the rate rises to mortgage holders, many families have been watching as their monthly loan repayments continue to increase month by month. For someone with a $750,000, 25-year loan before the RBA rate rises began in May, they’ll be paying over a $1,000 a month more in loan repayments as a result of the hikes.

By negotiating a lower interest rate with your current lender or switching to a new lender with a better rate, you could potentially save hundreds, if not thousands, of dollars a year in mortgage repayments.

Here are our top tips for negotiating a better home loan rate:

With Australians living longer and the cost of retirement on the up, deciding whether to help children out financially can be a conundrum for some parents.

On the one hand, you need to make sure your retirement savings will go the distance, and on the other hand, you may want to help your children get ahead.

Whether you’re contemplating a financial gift or loan, purchasing a property together, or going guarantor on a home loan, there are risks to be aware of, and these risks require careful consideration.

There are, however, a few ways that you can help protect yourself (and your children), and one of them is to legally formalise your financial arrangements.

While this may seem a bit unnecessary, the reality is that things can and do go wrong—relationships break down and family fallouts happen. Putting in place legal arrangements now while everyone is on good terms can be easier than trying to solve any issues when circumstances change and emotions are running high.

Family Lawyer, Bhavesh Mistry, outlines three options that could help with protecting your finances—and your relationship with your nearest and dearest.

To celebrate Financial Planning Week 2022, the Financial Planning Association of Australia commissioned new research to highlight the difference in quality of life between Australians who have received financial advice from a Financial Adviser and those who have not received advice.

The research showed that Australians who received financial advice are significantly better off across the board compared to those who are not advised. Advised clients reported the following benefits of receiving advice:

• Greater financial confidence
• Improved financial decision making
• Help achieving their financial goals
• Improved money management
• Greater peace of mind

We are proud to be Financial Advisers, working in a profession that aims to help our clients live well and enjoy financial freedom.

The infographic below captures the top 10 key benefits of receiving financial advice:

If you have been thinking about seeing a Financial Adviser, please get in touch with us so that we can show you how you too can benefit from receiving financial advice.

You would be forgiven for asking if you can get off the rollercoaster that is the share market in 2022. Share markets locally and overseas have pulled back again over the past week. There is continued pressure due to inflation, rising interest rates & bond yields and the rising risk of recession. These factors could hurt company profits, hence the volatility we are seeing investment markets.

At times like this, Shane Oliver, Head of Investment Strategy & Chief Economist at AMP, reminds us that there are 7 key messages that investors should keep in mind:

1. Share market pullbacks are healthy and normal – their volatility is the price we pay for the higher returns they provide over the long term;
2. It’s very hard to time market moves so the key is to stick to an appropriate long-term investment strategy;
3. Selling shares after a fall locks in a loss;
4. Share pullbacks provide opportunities for investors to buy them more cheaply;
5. Shares invariably bottom with maximum bearishness;
6. Australian shares still offer an attractive income (or cash) flow relative to bank deposits; and
7. To avoid getting thrown off a long-term strategy – it’s best to turn down the noise around all the negative news flow.

To read more on Shane’s thoughts: check out the latest addition of Oliver’s Insights