More than 80 per cent of Australians have insurance for their car but fewer than one third of us have income protection insurance1 to protect our livelihoods should the worst happen. While the odds of a bingle are higher – once every seven years on average – being waylaid by injury or sickness for a lengthy period is not as unlikely as you may think. In fact, a staggering 60 per cent of Australians will be off work due to serious injury or sickness for more than a month at least once in their working lives, according to a 2012 Rice Warner report on underinsurance.
Summer once again highlighted the extremities of our harsh Australian weather. In addition to Dorothea Mackellar’s “droughts and flooding rains”, communities too often contend with bushfires, cyclones and severe storms; stark reminders of the need for adequate home insurance cover.
New home sales are back on the rise, fuelled in part by many investors and owner-occupiers buying off the plan. The concept is straightforward: put up a deposit (usually 10 per cent) to help the developer fund construction and pay the balance when the build is complete. Apartments are now springing up at a rapid rate in capital cities and popular holiday locations with the confidence that property prices will rise, handing buyers a tidy capital growth when they eventually take possession.
Making the most of your money often requires common sense more than a commerce degree. Haven takes a look at five misconceptions about money that could be holding you back from greater financial freedom.
Pets have been long maligned by landlords for their potential to make a mess and cause damage. But with pet ownership in Australia ranking the highest in the world, property investors who turn their backs on our furry friends could be missing out on tenants and dollars.
Before they dismiss dogs and cats, landlords should consider that 60 per cent of Australians have pets and one third of households rent. Saying “no” to Fido and his feline foes means narrowing the rental funnel. At a time when national vacancy rates are climbing, this could be a costly choice.
Many landlords are now welcoming pets and reaping rewards. Here are some tips to help you embrace a pro-pet policy.
Competition among lenders for home loans remains steep but borrowers may still be missing out on
great deals and important information that could save them thousands of dollars.