-
3 weeks ago | 
moneymag.com.au | Sharyn McCowen |Nicola Field |Paul Clitheroe
Aussie credit score reporting platform Credit Savvy has announced it will be closing its website and app on May 14. More than 1 million Australians have accessed the free service since it was founded in 2016, which promotes financial services and products in exchange for monthly credit score updates. So what does the closure mean for members, their data and their credit score? We took these questions to Australian Retail Credit Association CEO Elsa Markula.
-
1 month ago | 
moneymag.com.au | Sharyn McCowen |Nicola Field |Ryan Johnson
A new resource aimed at Australians starting their first job could help young workers avoid being ripped off at work. The Financial Advice Association Australia (FAAA) this week released its 16-page guide to starting work for the first time, launched in conjunction with Global Money Week.
-
1 month ago | 
moneymag.com.au | Nicola Field |Sharyn McCowen
Power costs to soar up to 9%, UK pension worth $480,000 - are you eligible? And the lenders pushing battlers over the edge. Here are five things you may have missed this week. Just when you thought it was safe to plug in the heater, our national energy regulator has warned power bills could rise as much as 8.9%, or $249 annually, for households in NSW, South Australia and south-east Queensland from July 1, 2025.
-
1 month ago | 
moneymag.com.au | Sharyn McCowen |Mark Chapman |Tom Watson |Michelle Baltazar
Published Video transcriptWell, an audit is when the ATO isn't satisfied with, some or all of the figures in your tax return, and they ask you to provide proof, evidence to back up those figures. It can be a simple request, outlining, some additional information requirements for a specific number, for a specific, possibly a tax deduction that you've claimed.
-
2 months ago | 
moneymag.com.au | Karren Vergara |Vita Palestrant |Sharyn McCowen
The Federal Court today slapped AustralianSuper with a $27 million fine for dragging its feet on a multiple account bungle that lasted more than four years. Judge Hespe found that AustralianSuper failed to promptly identify and merge members' multiple accounts in the way the law required for the period between March 13, 2019 and May 11, 2023. Some 42,551 beneficiaries were affected. ASIC instigated action in October 2024, alleging that the $360 billion super fund's misdeeds stretched back 10 years.
-
2 months ago | 
moneymag.com.au | Vita Palestrant |Paul Clitheroe |Sharyn McCowen
The $4 trillion super sector has been a great success, delivering good returns since its inception. Now the focus has shifted to customer service. Over the past few years, complaints to the Australian Financial Complaints Authority (AFCA) have soared, particularly over delays in handling death and disability claims. This has led the Australian Securities and Investment Commission to take legal action against Cbus, with more cases expected to follow.
-
2 months ago | 
moneymag.com.au | Dale Gillham |Sharyn McCowen
The Australian banking sector has just taken a beating and NAB (ASX: NAB) stole the spotlight for all the wrong reasons, plunging over 8% to a six-month low after delivering a first-quarter earnings report that fell flat. But it wasn't just NAB-Westpac (ASX: WBC) and ANZ (ASX: ANZ) dropped in sympathy, despite not even reporting yet, while Commonwealth Bank (ASX: CBA) couldn't escape the sell-off either, even though it's held up better than the rest.
-
2 months ago | 
moneymag.com.au | Sharyn McCowen |Nicola Field |Paul Clitheroe
So you matched with someone on a dating app and have been chatting for a couple of weeks. They are captivated, asking insightful personal questions, and have even given you a pet name. And now they're suggesting you communicate outside the dating app, via text or instant messaging instead. Whirlwind relationship or romance scam in action? Aussies reported more than 3200 romance scams to Scamwatch last year, totalling almost $24 million in losses. The real number could be much higher.
-
2 months ago | 
moneymag.com.au | Sharyn McCowen |Tom Watson |Paul Clitheroe
Two in three Aussie women preparing for retirement are worried about running out of money after leaving the workforce, new research from HESTA shows. More than 60% of the 1800 pre-retirement health, aged care, and community services workers surveyed were worried about health issues or medical expenses, while half were concerned about not being able to afford their desired lifestyle.
-
2 months ago | 
moneymag.com.au | Tom Watson |Dale Gillham |Sharyn McCowen
From tariffs to rate changes, plenty of factors are set to impact portfolios in the months ahead. So how can investors holding shares, bonds, gold or crypto prepare? Volatility is part and parcel of investing. It comes with the territory. That's why investors with longer horizons are often reminded to take market turbulence and short-term ups and downs in their stride.
