Borrowing
MIND OVER MONEY
Celebrate innovation that puts the customer in charge
Caitlin Fitzsimmons The word innovation is in vogue, but what does it mean anyway - and is it worth all the fuss?
MONEY MENTOR
Property options for the priced-out
![The Great Australian Dream of property ownership is not dead, but it needs to shift away from the white picket fence.](/web/20160618060317im_/http://www.smh.com.au/content/dam/images/g/o/x/r/s/y/image.related.thumbnail.90x60.goymcr.png/1463931118741.jpg)
Nicole Pedersen-McKinnon It's not going to be much consolation to frustrated would-be first-home buyers, but monthly repayments on the average new mortgage are $254 less than they were at Australia's borrowing peak in November.
TIP OF THE WEEK
5 ways to pay off the mortgage super quick
![Owning a home can be incredibly rewarding, but it also comes with a fair amount of financial responsibility.](/web/20160618060317im_/http://www.smh.com.au/content/dam/images/g/o/u/7/9/c/image.related.thumbnail.90x60.gougb7.png/1463177824691.jpg)
Heidi Armstrong Stories about people who pay off sizeable home loans in record time are always talked about – but what are some of the tricks to making this happen?
CREDIT CARDS
Dissatisfaction with rewards cards widespread
![Cheryl Williams is unhappy with the value of her reward credit cards.](/web/20160618060317im_/http://www.smh.com.au/content/dam/images/g/o/u/8/3/z/image.related.thumbnail.90x60.got7mt.png/1463237347515.jpg)
John Collett Most rewards credit card holders believe that their rewards program delivers poor value.
TIP OF THE WEEK
When to fix your mortgage
![Even if the RBA reduces the cash rate again this year, that is no guarantee mortgage rates will fall.](/web/20160618060317im_/http://www.smh.com.au/content/dam/images/g/k/3/p/o/v/image.related.thumbnail.90x60.go5oft.png/1461029182099.jpg)
John Flavell One of the most common questions mortgage holders ask their broker is: "when is the right time to fix my loan?"
WELL HEELED
Save yourself from drowning in debt
![Programs such as Nippers train young people to become excellent performers in the water. We need to adopt the same ...](/web/20160618060317im_/http://www.smh.com.au/content/dam/images/g/l/r/b/5/a/image.related.thumbnail.90x60.gn98kg.png/1456967358105.jpg)
Melissa Browne The number of Australians wallowing in credit-card debt, mortgage debt, car loans and other forms of debt is a real issue, so perhaps it's time we paid the same level of attention to financial safety as we do to being waterwise.
HOME LOANS
How to find a mortgage bargain
![Chris Reid and his wife Kathryn found a better home loan deal for their Brisbane home.](/web/20160618060317im_/http://www.smh.com.au/content/dam/images/g/n/7/1/i/x/image.related.thumbnail.90x60.gn2z5y.png/1456873942911.jpg)
John Collett Are you the "ideal" mortgage borrower? If, so, lenders want your business.
Millennials, step away from the credit card!
![Beware the credit rating credit card.](/web/20160618060317im_/http://www.smh.com.au/content/dam/images/g/n/3/r/k/u/image.related.thumbnail.90x60.gn3rc5.png/1456442037405.jpg)
Nicole Pedersen-McKinnon Millennials snapping up credit cards in order to get a credit history should be aware that credit ratings are now warts 'n' all.
TIP OF THE WEEK
Help for those who can't repay their debts
![To qualify for the National Hardship Register, you need to meet with a financial counsellor.](/web/20160618060317im_/http://www.smh.com.au/content/dam/images/g/i/n/o/5/q/image.related.thumbnail.90x60.gmykdh.png/1456216175793.jpg)
John Collett The National Hardship Register can help the vulnerable have their debts waived.
INSIGHT
Banks ramp up credit card loyalty scheme push
![Amex cards can reward holders with up to 3 points per dollar spent whereas it is typically 0.5 to 1 point per dollar for ...](/web/20160618060317im_/http://www.smh.com.au/content/dam/images/g/j/0/h/j/x/image.related.thumbnail.90x60.gmo5kp.png/1455624809167.jpg)
Clancy Yeates Banks are busily spruiking a growing number of promotions that promise you thousands of frequent flyer points for taking out a new credit card.
CREDIT CARDS
Credit cards a 27-year debt sentence
![The government is considering mandating minimum repayments of both principal and interest on credit cards.](/web/20160618060317im_/http://www.smh.com.au/content/dam/images/g/k/w/b/0/8/image.related.thumbnail.90x60.gmftxv.png/1454167866676.jpg)
Nicole Pedersen-McKinnon The average bad marriage lasts 12 years, but the average bad debt on credit cards lasts 27 years.
UNIVERSITY COSTS
Student debt cheapest debt of all
![MON00-Collett](/web/20160618060317im_/http://www.smh.com.au/content/dam/images/3/4/p/s/h/image.related.thumbnail.90x60.gmfrrp.png/1460503306093.jpg)
John Collett There is not much point in repaying student debt early, especially after the removal of discounts at the end of this year.
TIP OF THE WEEK
Tackle bad debt before good debt
![More Australians are worried about their finances than two years ago.](/web/20160618060317im_/http://www.smh.com.au/content/dam/images/g/m/f/s/t/o/image.related.thumbnail.90x60.gmfrfx.png/1454461932399.jpg)
John Flavell Australians are increasingly worried about their finances, but there is a simple technique that everyone can use to become debt free faster.
INSIGHT
Beware sting in zero per cent credit card deals
![If you've racked up a large credit card debt, the zero per cent balance transfer deals look tempting.](/web/20160618060317im_/http://www.smh.com.au/content/dam/images/g/l/c/1/i/a/image.related.thumbnail.90x60.gmajes.png/1464302207458.jpg)
Clancy Yeates Here are some of the traps in banks' zero interest credit card offers.
MIND OVER MONEY
What The Big Short movie can teach ordinary people
![<p>](/web/20160618060317im_/http://www.smh.com.au/content/dam/images/g/l/z/o/m/3/image.related.thumbnail.90x60.gm7ufu.png/1464942243052.jpg)
Caitlin Fitzsimmons It's exciting watching the traders short the US mortgage market before the global financial crisis, but it's not something the rest of us can emulate.
INSIGHT
Debit cards more popular than ever but Aussies still hooked on credit
![The abstract nature of credit means consumers feel less emotionally connected to the money and are more prone to the ...](/web/20160618060317im_/http://www.smh.com.au/content/dam/images/1/3/f/e/y/9/image.related.thumbnail.90x60.gm4s1n.png/1453265982287.jpg)
Sally Rose The use of a debit card to limit reliance on credit is being undermined by consumers keeping a credit card for 'emergencies'.
Aussies turning to fast cash this Christmas
![Kim Kardashian is a role model for many.](/web/20160618060317im_/http://www.smh.com.au/content/dam/images/g/l/n/i/u/6/image.related.thumbnail.90x60.glsk6p.png/1450673853208.jpg)
Michelle Hutchison At this time of year many Australians are taking out small loans in the lead-up to Christmas.
BASIC TRAINING
Credit cards that don't break the bank
![If you are getting a credit card for the first time, tread carefully.](/web/20160618060317im_/http://www.smh.com.au/content/dam/images/g/l/4/o/k/6/image.related.thumbnail.90x60.glduf6.png/1460417696534.jpg)
Larissa Ham If you're disciplined, a credit card can be handy. But if you're not – and many millions of us aren't – it can be a fast track to an endless cycle of interest payments.
EXCLUSIVE
Credit card traps for zero-interest customers
![December is a time when consumers are tempted to pile purchases on credit.](/web/20160618060317im_/http://www.smh.com.au/content/dam/images/g/l/8/y/1/5/image.related.thumbnail.90x60.gl8t5y.png/1450058025016.jpg)
John Collett Credit card providers are aggressively pushing balance-transfer deals by offering dramatically longer zero-interest periods, but creaming profits from higher fees.
INTEREST RATES
Time to fix your mortgage
![The best deals on fixed interest rates are before the rate cycle hits the bottom.](/web/20160618060317im_/http://www.smh.com.au/content/dam/images/g/l/7/q/c/8/image.related.thumbnail.90x60.gl7pti.png/1448593248869.jpg)
Nicole Pedersen-McKinnon It's time to fix your mortgage. Well, half of it. For three years only.
INSIGHT
Home buyers embrace benefits of bigger deposits
![Home buyers are paying bigger deposits to get the best mortgage deals.](/web/20160618060317im_/http://www.smh.com.au/content/dam/images/g/k/x/z/p/7/image.related.thumbnail.90x60.gl2kb6.png/1454057689020.jpg)
Clancy Yeates Banks are becoming more picky about who they offer their lowest interest rates to.
HOME LOANS
Perfect time to refinance your mortgage
![Janine Louden and her husband are returning to their original lender, so they won't have to set up new accounts.](/web/20160618060317im_/http://www.smh.com.au/content/dam/images/g/k/x/z/6/u/image.related.thumbnail.90x60.gkxd7r.png/1447536112819.jpg)
John Collett The big banks may be increasing their mortgage interest rates, but that's no reason for their mortgage customers to meekly accept higher repayments.
TIP OF THE WEEK
Pressure mounts for parents to go guarantor
![Families are helping adult children into property.](/web/20160618060317im_/http://www.smh.com.au/content/dam/images/g/k/w/4/7/6/image.related.thumbnail.90x60.gkw3r5.png/1447288748483.jpg)
Dianne Charman Parents need to consider all the options before becoming property guarantors for their children.
CREDIT TRAPS
New credit card traps
![Credit card providers have new traps to squeeze customers.](/web/20160618060317im_/http://www.smh.com.au/content/dam/images/g/k/m/k/8/6/image.related.thumbnail.90x60.gkwwuy.png/1464302207560.jpg)
Nicole Pedersen-McKinnon We know about unconscionable credit card interest rates and unreasonable surcharges, but this is what you don't know.
Young Aussies out of financial control
![Commerce graduate Daniel Wroby didn't hear the term "financial literacy" until he was 23.](/web/20160618060317im_/http://www.smh.com.au/content/dam/images/g/k/l/p/s/p/image.related.thumbnail.90x60.gklu6o.png/1446314237530.jpg)
Emily Chantiri Twenty-three-year-old Daniel Wroby had never heard the term "financial literacy" until this year. He is not alone.
ASSET CHECK
The magic of the mortgage offset account
![Mortgage offset accounts provide financial flexibility to homeowners.](/web/20160618060317im_/http://www.smh.com.au/content/dam/images/g/k/f/q/l/n/image.related.thumbnail.90x60.gkfqoq.png/1445488523621.jpg)
Daryl Dixon It's an excellent development for consumers that mortgage offset accounts are becoming more commonplace.
ASK NOEL
Age pensioners' guide to lending money
![<p>](/web/20160618060317im_/http://www.smh.com.au/content/dam/images/1/3/h/8/x/2/image.related.thumbnail.90x60.gkfle6.png/1445484792488.jpg)
Noel Whittaker Noel Whittaker answers reader questions on loans from age pensioners, saving for funeral costs and possible changes to superannuation.
WELL-HEELED
From armchair activist to conscious consumer
![Are you a conscious consumer or a sleepwalker? Illustration: Andrew Dyson](/web/20160618060317im_/http://www.smh.com.au/content/dam/images/g/k/b/s/2/l/image.related.thumbnail.90x60.gkan9v.png/1445337415312.jpg)
Melissa Browne Clicking to support a cause is not enough; you need to consider your investing, spending and borrowing as well.
INSIGHT
Home buyers shun fixed interest rates
![If you're feeling the pinch, it pays to have the certainty of a fixed interest rate.](/web/20160618060317im_/http://www.smh.com.au/content/dam/images/g/k/4/3/8/l/image.related.thumbnail.90x60.gk763h.png/1451348102038.jpg)
Clancy Yeates When interest rates are this low, it can make sense to fix part of your mortgage.
HIDDEN DISCOUNTS
Big 4 in surprise $400m loan giveaway
![To get the best rate discounts, you need to pick up the phone to the banks and negotiate.](/web/20160618060317im_/http://www.smh.com.au/content/dam/images/g/j/t/9/c/8/image.related.thumbnail.90x60.gk8lsx.png/1459051097183.jpg)
Nicole Pedersen-McKinnon The Big 4 are secretly lopping a full 1 per cent on average off advertised rates for home loans.