Are you satisfied with managing your expenses and your ability to save? If not, then it might be time to start using budget apps to give your finances a boost. 

If you’re unfamiliar with the concept, what we commonly refer to as a budget is an estimation of revenue and expenses over a specified future period of time, and is usually compiled and re-evaluated on a periodic basis. Budgets can be made for an individual, a group of people or household, a business, a government, or just about anything or anyone else that makes and spends money.

However, the reality check that analysing our spending and saving habits presents has a tendency to scare people away from the process. Like it or not, budgeting is an essential for saving up for big ticket items such as your first house, as well as being able to meet the all important monthly repayments. 

While there’s no such thing as a single best budget app that will fit all types of spending habits and savings goals, the good news is that there are a wide range of budget apps that empower anyone with a smartphone to get financially fit. 

Five Budget Apps To Supercharge Your Savings

There’s no way to sugar coat it: inflation is a bit of a budget killer. As the purchasing power of money decreases, everything else goes up – making it that much harder for first home buyers to scrimp and save enough cash for a house deposit. 

The science says that it can take anywhere from 18 to 254 days for a person to form a new habit, and an average of 66 days for a new behaviour to become automatic. Thankfully, anyone with a smartphone can supercharge those figures and make saving money that much easier thanks to the many budget apps – but what are our top picks?

Pocketbook – With your daily spending sorted into categories, you can easily see where most of your money goes, and what you might need to cut back on. Pocketbook is one of the best “all rounder” money saver apps out there, and it syncs with your bank account for users to get a scope on their actual spendings. 

Money Brilliant – Similar to Pocketbook in nature, Money Brilliant is a ‘level up’ as it also includes the option to track your superannuation and investment portfolios. There’s less leg work with this money saver app, as it automatically populates a budget based on your historical earnings and spendings, and can even find the cheapest petrol deals in your region. 

Good Budget – If you really want to start with the basics, then this is the best budget app for you. Good Budget is a digital form of the envelope system: that is, you set yourself limits for certain categories of spending, such as $100 a week towards groceries, or $50 a week on going out. It also allows users to access expense trackers and bank account linking like the above. 

Finspo – Although Finspo is certainly not one of the more traditional budgeting apps, it does shine a light on the true cost of banking. Users can sync up their home loans, credit cards, bank accounts and savings accounts from over one hundred banking institutions, and Finspo will then analyse all that data to provide a range of personalised insights on an ongoing basis.

Your Bank’s App – According to the Australian Bureau Of Statistics, over one quarter of Australians still don’t use internet banking. Making the most of your current bank’s existing app is a great way to keep an eye on what’s happening with your finances and to split accounts up into everyday access, long term savings, direct debits for bills, etc. 

For those getting ready to purchase their first home, refinance their existing one, or even kick start their journey as a budding property investor, it should come as no surprise that six in ten Australians are now working with a mortgage broker for help in navigating the world of home loans – but where do you find one?

Partner With The Property Finance Experts

Since their inception in 2012, the team at Madd Loans have worked tirelessly in providing over 2,000 Queenslanders with finance options to help turn their dreams into reality. With the entire brand being built on referrals, owner George Samios takes great pride in making the loan process both fun, educational and stress free – and he has a swag of awards to prove it.

Relentless in their pursuit of gold star customer service, the team at Madd have now expanded their services to include end to end financial planning. Through Madd Life, the aim is to collaborate with clients to identify long term goals, and transform them into a road map. If thinking about your financial future strikes a chord with you, then it might be time to speak to a professional. Whether you’re chasing mortgage solutions or a financial fairy godmother, the team at Madd proudly work together as a collective to turn your goals into reality.

With a new financial year providing a unique window of opportunity for motivated first home buyers, how can you make a property purchase before Christmas? 

Making your first foray into the property market can be an expensive and confusing experience. As many members of this demographic already know, first home buyers are often inundated with advice from well meaning friends and family, and can quickly become overwhelmed at the sheer amount of information being thrown at them.

However, it’s almost universally agreed that as a first time home buyer, you need a clear plan of attack when it comes to forming a financial blueprint. Things like deposits don’t save themselves, and first home buyers need to have a clear vision for how they intend on purchasing their first abode. 

While many first home buyers tend to associate January with the right month for creating new goals and evaluating existing ones, the reality is that the start of a new financial year is arguably the better choice. 

What A New Financial Year Means For First Home Buyers

While it’s understandable that many first home buyers have opted to wait until the property market simmers down from its current peak, the general rule is that property is always going to increase in value – after all, people who purchased a home ten years ago are in a much better financial position now than they were back then. 

As such, a new financial year provides the perfect opportunity for first home buyers to assess where they’re at when it comes to submitting an application for a home loan pre approval. To make the most of this time of year and even potentially get yourself into a property before Christmas, it’s worth getting familiar with the following insights. 

Save Your Tax Return – Depending on your industry or sector, a new financial year can often mean a sudden influx of cash thanks to your tax return. Instead of booking a holiday or shelling out on a new wardrobe, first home buyers should use their tax refund wisely, and either use it for a deposit or pay off existing debts. 

Review Your Expenses – The end of the financial year usually provides an opportunity to see where your outgoing expenses are. In addition, there’s often extra motivation for better record keeping, so that you know which receipts to keep for next year. For first home buyers, it’s also a good idea to evaluate where to cut back. 

Expand Your Income – Given that Christmas is only six months away, use the new financial year to get motivated and work on generating more income. As a first time home buyer, it can often be easier to make more money than it is to cut back on expenses, so start exploring ideas for side hustles like upcycling furniture or offering services on platforms like Airtasker. 

Consider The FHSS – If you weren’t a fan of how much tax you paid last financial year, the FHSS can be a way to pay less while still saving for a house deposit. The First Home Super Saver Scheme (FHSS) helps Australians boost their savings for a first home by allowing them to build a deposit inside superannuation, and essentially gives them a tax cut.

Explore Federal Schemes – For first home buyers eager to capitalise on the opportunity to break into the property market faster with as little as 5% or 2%, the good news is that applications for the Home Guarantee Scheme and Family Home Guarantee are now open in line with the new financial year. 

Get A Financial Planner – Purchasing your first home can be an extremely daunting experience, but the good news is that with solid financial planning, it doesn’t have to be. Experts in this field help first home buyers to understand where their money goes, but can also provide guidance on saving up for a deposit and eventually purchase an investment home. 

For those ready to purchase their first home, refinance their existing one, or even kick start their journey as a budding property investor, it should come as no surprise that six in ten Australians are now working with a mortgage broker for help in navigating the world of home loans – but where do you find one?

Partner With The Property Finance Experts

Since their inception in 2012, the team at Madd Loans have worked tirelessly in providing over 2,000 Queenslanders with finance options to help turn their dreams into reality. With the entire brand being built on referrals, owner George Samios takes great pride in making the loan process both fun, educational and stress free – and he has a swag of awards to prove it.

Relentless in their pursuit of gold star customer service, the team at Madd have now expanded their services to include end to end financial planning. Through Madd Life, the aim is to collaborate with clients to identify long term goals, and transform them into a road map. 

If thinking about your financial future strikes a chord with you, then it might be time to speak to a professional. Whether you’re chasing mortgage solutions or a financial fairy godmother, the team at Madd proudly work together as a collective to turn your goals into reality.

Not feeling confident at the prospect of higher interest rates? You’re not alone, but the good news is that there are ways to lower your mortgage repayments.

Higher cost of living, global volatility, and the ongoing economic impacts of the pandemic certainly kicked the year off with a bang. In addition, we’re now facing interest rate hikes not seen in over two decades. What’s worse is that for almost half of Australians, our savings and financial wellbeing have taken a hit because of it.

New data sourced from NAB indicates that more than 40% of all surveyed adults reported a decline in their savings in the past three months. In addition, the NAB Australian Wellbeing Survey also found that more than one in ten Australians do not have $2,000 for an emergency. 

If you’re feeling the pinch of financial stress at the moment, you’re not alone, as the survey also showed that one in three people are currently reporting “high” levels of financial stress. Three quarters of respondents are trying to save, but report being challenged by debt, repayments, bills, and everyday spending. With interest rates only set to increase, a wise preventative measure for homeowners is to get familiar tools to reduce their mortgage repayments. 

Five Ways To Lower Your Mortgage Repayments

For prospective buyers and existing homeowners alike, the timing and magnitude of any changes to interest rates will often be closely watched. Even the smallest increase could mean hundreds of dollars more in mortgage repayments per month, so it’s important to have a game plan as a means to protect yourself against these types of rising costs.

As such, lowering your mortgage repayments can be an incredibly effective way to ward off any potential stress linked to your finances, even if it’s only temporary. While some measures may be more appropriate than others and will depend on your financial situation, just a handful of the more common tactics to try include the following. 

Get An Offset Account – The basic function of an offset account is to use up to 100% of the balance of a linked transaction account to ‘offset’ – or effectively reduce – the portion of your home loan that is accruing interest. It’s like having a savings account linked to your mortgage, which in turn could significantly lower the amount of interest you due. 

Stop Paying Monthly – If you are paying your mortgage monthly, take your salary payment frequency into consideration to match your mortgage repayment cycle. By paying half of the monthly amount every two weeks – or swapping to fortnightly payments – you’ll make the equivalent of an extra month’s repayment each year. 

Make Extra Repayments – While it may seem counterproductive if you’re trying to reduce your mortgage repayments, any attempt to get ahead with your home loan will reduce the amount of interest due. Try to get in the habit of making lump sum payments whenever you can, such as utilising your tax return, any surprise bonuses, or even funds sourced from an inheritance. 

Consider Fixed Rates –  It’s not uncommon for lenders to offer lower rates to entice new customers, but fail to look after their existing customers with the same benefits. Banks are not known for their loyalty, so ensure you know what’s on offer and don’t be afraid to ask for the best possible interest rate structure, even if that means opting for fixed over variable. 

Home Loan Health Checks – At least once a year, put aside time to meet with your bank manager or mortgage broker for a loan check up. Your financial position may not be the same as it was twelve months ago, and it’s also a great time to revise your loan terms and interest rates, or if you should swap to another product. 

As of September 2021, mortgage brokers wrote 67% of all residential home loans in Australia – the highest number ever recorded. What’s more is that 90% of these customers reported that they were happy with the services provided to them. If you’re thinking about applying for a home loan or need some help with managing your mortgage repayments, then it’s worth getting in touch with the professionals. 

Partnering With Home Loan Professionals 

Navigating the complex world of home loans has long been regarded as stressful, frustrating and time consuming – but if you can find the right advice on sourcing how mortgages work, then the good news is that it doesn’t have to be.

Since their inception in 2012, the team at Madd Loans have worked tirelessly in providing over 2,000 Queenslanders with finance options to help turn their dreams into reality. With the entire brand being built on referrals, owner George Samios takes great pride in making the loan process both fun, educational and stress free – and he has a swag of awards to prove it.

If thinking about your financial future strikes a chord with you, then it might be time to speak to a professional. Whether you’re chasing mortgage solutions or a financial fairy godmother, the team at Madd work together as a collective to turn your goals into reality.

Although experts are predicting that real estate prices will correct themselves instead of crash, what does the future of the property market look like? 

The latest figures from the Australian Bureau Of Statistics show the value of the country’s 10.8 million residential dwellings rose by $221.2 billion in the three months to March 2022, bringing the total to $10.2 trillion – and the first time in history that the Australian property market has reached such an eye watering figure. 

Despite market conditions running red hot around the nation for close to two years, all the signs are showing things might finally start to cool down. Suburbs in inner city Sydney and Melbourne have long been regarded as the most sensitive to market changes, and the recent spate of interest rate rises have appeared to start taking effect – but what does it mean for us in Queensland?

The Future Of The Queensland Property Market 

After bottoming in September 2020, residential property prices surged in 2021 to their strongest 12-month gain in over thirty years. However, after a 25% national price rise on the back of this period, Australian house prices are finally beginning to soften. 

Everyone from investors, owner occupiers and even first home buyers have closely been watching what the property market is up to, especially since the national average home price fell 0.1% in May. Based on data sourced from CoreLogic, this is the first monthly decline since September 2020. 

While the decline was led by falls of 1% in Sydney and 0.7% in Melbourne, Queensland figures paint a different story. In contrast, Brisbane prices have risen almost 5% in the last three months, and appear to be bucking the trend of falling house prices.

Brisbane’s house prices have increased by a staggering 32.1% in the past 12 months alone, with the median price now sitting at $856,731. Although unit prices have dipped slightly across a handful of areas, not one suburb in Brisbane has seen a drop in quarterly or annual prices for houses. 

The reason why Brisbane market growth is looking so strong will generally vary depending on who you ask. For some, hosting the 2032 Olympic Games means billions of dollars being invested into local infrastructure, particularly for transport and liveability improvements. For others, it’s because Brisbane never quite reached the same levels of growth that Sydney and Melbourne saw in the last two decades, and therefore had less room for market fluctuations. 

Given that the upcoming 2032 Olympics will be covering a number of regional hubs and not just focussing on Brisbane itself, other areas expected to reap the rewards of the event include the Gold Coast, the Sunshine Coast, and even Toowoomba. 

For those trying to predict the future, it’s also worth noting that CoreLogic Research Director Tim Lawless was quick to point out that if the Sydney 2000 Olympics were any indication, Brisbane could be tracking a similarly strong performance. Figures show that between the 1993 announcement of the Sydney Olympics to when they were held in 2000, Sydney dwelling values jumped by 60% – almost twice the growth recorded across the combined capital cities benchmark region, which grew by 34.6%.

While the headlines may indicate financial stress linked to falling house prices, rising interest rates, and inflation levels not seen for decades, it’s easy to understand why Queenslanders may feel nervous about the state of the property market. Although we’re not immune to the cost of living pressures that every corner of the country is currently facing, the long term future over the course of the next decade is certainly looking bright. 

For those ready to purchase their first home, refinance their existing one, or even kick start their journey as a budding property investor, it should come as no surprise that six in ten Australians are now working with a mortgage broker for help in navigating the world of home loans – but where do you find one?

Partner With The Property Finance Experts

Since their inception in 2012, the team at Madd Loans have worked tirelessly in providing over 2,000 Queenslanders with finance options to help turn their dreams into reality. With the entire brand being built on referrals, owner George Samios takes great pride in making the loan process both fun, educational and stress free – and he has a swag of awards to prove it.

Relentless in their pursuit of gold star customer service, the team at Madd have now expanded their services to include end to end financial planning. Through Madd Life, the aim is to collaborate with clients to identify long term goals, and transform them into a road map. 

If thinking about your financial future strikes a chord with you, then it might be time to speak to a professional. Whether you’re chasing mortgage solutions or a financial fairy godmother, the team at Madd proudly work together as a collective to turn your goals into reality.

In an era where mental health has never been more important, Madd were proud to attend and sponsor the inaugural You Are Not Alone fundraising event.  

Verbal or physical bullying, trauma linked to the loss of a loved one or family breakdown, conflict, alcohol misuse and cyberbullying are all contributing factors to youth mental health problems, all of which young people have the potential to be exposed to. 

Despite this, young people are the least likely to seek professional help or support when it comes to dealing with mental health issues. Research suggests that only 17% of young men and 31% of young women will reach out to a school counsellor, a parent, a teacher, a psychologist, when in need of professional help.

While one in seven young people aged 4 to 17 years experience a mental health condition in any given year, there’s no denying that the young people of our communities need our help. As 75% of all mental health issues occur before the age of 25, raising awareness in schools is more important than ever – which is how the You Are Not Alone initiative was born. 

Why We Support The You Are Not Alone Initiative 

Established in 1948, Villanova College caters for approximately 1, 340 boys in three schools ranging from Year Five to Year Twelve. Villanova College has a long history of excellence, with just a handful of its most prominent alumni including former Attorney General for Australia George Brandis, NRL superstar Brad Meyers, journalist Chris Reason, and Madd Loans founder George Samios.

George found his time at Villanova to be hugely influential during his formative years, and wasted no time in supporting the You Are Not Alone initiative launched by Villanova student, Tom Price. 

Established from the aim to change statistics around youth mental health and suicide through talking about how we truly feel, the You Are Not Alone campaign started with one simple yet star-studded video. By highlighting the issues faced by young people, the video was created by students all over Brisbane. The video has been viewed hundreds of thousands of times nationwide and was featured on radio stations and celebrity social media pages.

As the brains behind the You Are Not Alone campaign, Tom Price was well known as a confident and outgoing young man who was heading into Year 12 as a senior leader, while at the same time producing honey from his own hives and working as a part-time volunteer lifeguard. However, when his own busy social, school and sporting routines disappeared in 2020 thanks to the onset of the pandemic, he found himself struggling with his mental health for the first time. 

When Tom looked around, there wasn’t anything that particularly resonated with him – or his peers – in terms of normalising or supporting someone with mental health issues. Having found the help that he needed at the time, Tom has set about creating a mental health campaign he hopes will start conversations, normalise the struggle and create a positive change in student mental health statistics.

“I knew that if I was having a hard time dealing with all the COVID changes and pressures that come with school, family and general life I was surely not the only one.  So, I based the campaign around the words ‘you are not alone’. Words that when you are having a tough time and feeling isolated are pretty powerful,” said Price.

Along with his fellow Villanova students Lachlan Bremner, Riley Richars and Cameron Wallis, Tom has since been blown away by the reaction that the You Are Not Alone campaign has received. Determined to keep the momentum going, Tom and his friends wasted no time in taking the campaign to the next level. 

In conjunction with Lifeline, the You Are Not Alone campaign launched its first annual fun run to raise money to support Lifeline’s call centres. With the aim being to promote conversation among young people about how they are feeling, aiming to change statistics around youth mental health and suicide, Madd Loans jumped at the change to sponsor the event when approached.

Held on Saturday 25 June, the inaugural You Are Not Alone fun run managed to raise a whopping $35, 000, with all funds going directly to lifeline. George and the team at Madd were proud to attend the event held in the Brisbane Botanic Gardens, and be a part of the much needed conversation surrounding youth mental health. 

If you or someone you know is suffering with mental health, it’s important to know where and when to reach out for help. Nobody should ever feel alone, and Lifeline offers vital support via 24/7 free text and phone hotlines to talk things through with trained professionals. Sometimes it might not feel like it, but we’re all in this together.