10 Pieces Of Personal Finance News You Need To Know This Week

Summer is here and with the end of 2023 in sight, it is going out with a bang.

Here are the curated highlights or rather (mostly) lowlights

😷 Time to break out those masks, the COVID surge is here – with the peak expected next week.

🏠 The RBA increased the cash rate to 3.1% this week – that's an extra $790 on a 25-year $600K (based on a loan starting at 1.99%) more than in April.

💸 Mortgage holders on the lowest fixed rates could find themselves with a 58.3% hike in their repayments.

🔋Australia's energy ministers have agreed on a new mechanism that will reward renewable technologies over fossil fuel investment.

🍫 REDcycle's collapse is even worse than first thought with 3000 tonnes of soft plastics found so far by the EPA.

🔌 Anthony Albanese's energy deal today could save low-to-middle income household's up to $230 a year.

💰The Australian Securities and Investment Commision (ASIC) has changed their guidance on self-managed super funds (SMSFs) – saying now that your balance is only one element to consider.

🔥Summer is definitely here with the current SA fire warning at catastrophic in the Mount Lofty Ranges.

🚣‍♀️ Whilst in another part of SA, the River Murray is flooding with water predicted to keep rising until the end of the month.

🥭 On the upside with inflation making almost everything more expensive – an excess mango crop means you could get a whole box for $10.

The bottom line

It's been a huge year and it shows no signs of letting us slow down yet.

The information contained on this web page is of general nature only and has been prepared without taking into consideration your objectives, needs and financial situation. You should check with a financial professional before making any decisions.