What does the RBA do?

On the first Tuesday of every month, the Reserve Bank of Australia (RBA) meets to set the cash rate. But what is the cash rate, and what exactly does the RBA do? The RBA is the government-owned, but independent central financial authority in Australia. One of the RBA’s jobs is to set the official cash…

The importance of your credit rating

It’s no secret that we are a society that isn’t afraid of debt. Over the past three decades, Australian household debt has steadily climbed as more and more of us take out mortgages for homes and rely on products such as car loans and credit cards. According to the latest OECD data, the ratio of household…

Is rent money dead money?

There is something to be said for owning your own little piece of the world. It’s the great Aussie dream to have a house to live in and grow with, but should it be your biggest asset? Is it even an asset at all? Rich Dad, Poor Dad author Robert Kiyosaki says that a house you buy…

Why is saving so hard?

In my teens, my mother attempted to encourage my sense of self-identity by giving me a clothing allowance. Rather than spend it, instead I stockpiled my money and rotated my wardrobe between two pretty hideous polar fleece tops – it was the 90s and polar fleece was everywhere. I’ve always been a saver, but let’s face…

Nice girls

In my 20s I was offered a job undertaking research for a food magazine publisher (not as exciting as it sounds, I promise). As part of the recruitment process, I had to negotiate my hourly rate. I knew what I was worth, but I was scared to attach a value to it for fear of…