Australia’s top money goal for 2023, phone plans take priority over home loans, and new job seekers targeted by scammers. Here are five things you may have missed this week.
Revealed: Our No 1 financial goal for 2023
CommBank says nine out of 10 Australians have set a financial goal for 2023, and this year “reducing living costs” tops the list of money resolutions.
However, Will Mailer, chief behavioural scientist at CommBank, says, “We know a huge number of resolutions won’t make it to February, as many of us fall back into old habits in the first weeks of the year.”
Mailer offers tips for sticking with your 2023 financial goals including:
- Avoid big and vague – break down big goals into one or two very specific behaviours that you will need to change, for example, saving a certain percent of your pay each payday.
- Build in incentives – you might agree with your partner that you will do the dishes for a week every time you miss your monthly budget target.
- Accept willpower is not enough – set up systems that will help to sustain good behaviours, like setting up auto-transfers to grow personal savings.
Aussies more likely to research new phone plan than new mortgage
A home loan is a vastly bigger beast than a mobile phone plan. Yet research by non-bank lender Pepper, shows 70% of Australians devote time to comparing phone plans, while just six out of ten people shop around for a home loan.
Mario Rehayem, Chief Executive Officer, Pepper Money, says the finance market “can feel…
