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Whether you browse reputable sites online, check out finance books from your library, or talk to a certified financial planner or other licensed expert, there are lots of people who are eager to impart their financial know-how.
The Reserve Bank’s decision to increase the cash rate by 25 basis points in November, after leaving the rate unchanged for four months, served as an opportunity for some banks to restore their margin by passing on the full rate increase (or more) to borrowers while holding back on savings rate increases.
The latest round of increases to savings rates, coming at a time when inflation is falling, means there is a growing number of deposit takers offering accounts that pay a real rate of return.