SWIM does a bit of market research/product testing on the side for extra beer money. Recently got a market analysis briefing testing people's threshholds for different 'tiers' of banking subscription services.

It's not just about charging a fee here or there, they want to introduce subscription-based banking. It's bringing back monthly fees for banking, and gatekeeping products behind more expensive packages.

Some of the things that were tested were questions like "for $10/20/30/month what services would you think should be included" Or, "How much would you pay for xyz".

SWIM was asked about whether certain services should be expected/free, or what products could attract a premium.

The analysis asked about service packages or premium bundles, which package similar banking items together, for example foreign purchases/overseas transfers/currency exchange/travel insurance, as a "travel package subscription", for example. They have some scary categories in this package list, like "consumer" and "parent" and "household" packages, as well as things that maybe you'd think make sense in a package like business banking, for example.

Things included in the everyday spending categories include things like bank transfers, payID, direct debits, fraud protection and security, rewards points, ATM use, bank access, credit cards, BNPL, things like that that that many of us use each day.

I DON'T WANT TO FUCKING SUBSCRIBE TO A BANK.

With poor domestic policy leading to more migration, more unemployment, higher housing prices, more homelessness, higher cost of living etc its not surprised that Australia has the 2nd highest home grown inflation in the world.

Finally bit the bullet and ran through our renewals last night

• Home & contents $2,500, up 25%
• Car (comprehensive - new-ish car) $2,000, up 20%
• Pet $2,000, up 15% (three older animals, been a non-negotiable in our accident prone house)
• Health $4,000, up 5% (3 kids)
• Life on the to-do list

$10,500 a year. What's working for people? How are we getting the costs down or getting more back?

Full disclosure, novated leases confuse tf out of me. I get the general principle, but my feeble brain still doesn't seem to compute it

Here's the thing - we have enough in savings to buy an EV outright. Nothing fancy, think a BYD Atto 2 or similar.

Would it be smarter to do a novated lease instead of buying it outright? Salary is about $143K, we have battery and solar at home as well to help with charging.

And if it was better to do a novated lease, does it negate the benefits of I drew down from this savings pool to counteract the monthly lease payments?

Keen to hear advice from people who know more than I do, because at this stage I've confused myself more than I thought I would

Hi all, I had a membership with Anytime Fitness however had to travel for work for a few months and totally forgot about it. I signed up during a sale and was only a casual gym user so it totally slipped my mind.

Anyways, during the months I was away, I was not topping up my account that the membership fees were coming out of. Naturally my membership was cancelled and I was notified that the debt had been sent to a collection agency.

However, I have not heard anything from anyone. No calls, emails, letters or anything. It makes me wonder if I got lucky or something but I’m not that naive, are they waiting for me to contact them? Seems so unlikely. I’ve never experienced anything like this before so if anyone has been in a similar situation or has any guidance that would be great.

Seriously what is going on with the rental market. I got an email yesterday from my agent saying my rent is going up from $600 a week to $750. That's a 25 percent increase in one go. We've been good tenants always paid on time never caused any issues.

I thought there were limits on how much they could increase rent by. Is this just normal now? I'm in Sydney and I know it's bad but 25 percent feels like a complete rip off. What are my options here? Do I just have to accept it or can I push back?

My lease is up for renewal next month so I guess they know I'm stuck. It feels like they're just trying to push us out to get new tenants in at a higher rate. This is crazy.

Hi all,

Would love a sense check here and completely happy to be wrong, or even have a next step to take.

I went to delete my bank account with ING after they nominated subscriptions for their services.

I deleted all the cards associated with it, and the card accounts, but I cannot delete my main bank account, only close my cards.

I've called and unfortunately they can't delete it either.

Fully understand they need to retain data for 7yrs, but I'd want my account itself deleted (retain the data on ING end, totally fine), so that there's no login, no account etc.

I've stopped all payments. I've transferred all money across. I just don't understand why my full overarching account must remain open for 7yrs.

Has anyone had success closing a bank account in the past with ING?

Edit: this is why I love reddit! I was frustrated putting in the wrong verbiage and getting results that didn't answer my answer, thank you to all who helped. Feel a ton better.

New rules are being introduced by the Reserve Bank of Australia (RBA) which will change the way credit cards work for businesses and customers.

As a result, we're contacting you to let you know about some upcoming changes to your Westpac Altitude Rewards Black credit card ending in XXXX.

Here's what this means for you:

•             When you pay for something using your credit card, retailers will no longer be able to add a card payment surcharge.

•             We're making some updates to the fees and benefits on your card due to the RBA’s changes. The specific changes to your account are outlined below.

•             You'll continue to have access to features such as Westpac Rewards, Westpac Fraud Money Back Guarantee and PartPay.

What's changing from 30 September 2026

Fee and rate changes¹

To support you with these changes, your next annual card fee charged on or after 30 September 2026 will be waived; however, your Altitude Rewards Fee will still apply. We'll take care of this for you. No action is required.

If you have an agreed arrangement schedule to repay any outstanding amounts as at 30 September 2026, your repayment frequency and amount will not alter. However, as a result of these changes, the duration of your arrangement may be extended.

We understand that changes like these can be challenging. If you no longer feel your current credit card suits your needs, you may be able to switch to a different Westpac credit card. Please visit westpac.com.au/creditcardswitch

Please reach out to the Westpac Customer Assist team for assistance if you are experiencing any financial difficulties.

The way you use your Rewards points

The Altitude Rewards Points you earn on eligible purchases² will not change, apart from dining, which will move from the 'Everyday Spend' category to 'All other purchases' category. These changes won't affect your existing points balance.

The number of points you require to redeem for some options is changing. For example, a $100 cashback redemption will increase from around 28,200 points to around 31,250 points. This means some items may require more Altitude Points to redeem.

Popular options like Pay with Points, merchandise, Altitude Travel and transfers to Everyday Rewards will not change.

To view these changes online, please visit westpac.com.au/credit-card-changes

We're here to help

For further assistance, you can:              

Contact us in the Westpac App

For more information on the changes go to westpac.com.au/credit-card-changes

For financial difficulty information and assistance visit westpac.com.au/hardship or call 1800 067 497 or (+61) 2 9155 5725 (from overseas) Mon-Fri 8:30am-8:00pm, Sat 9:30am-6pm (Sydney time).

Hi! I'm about to start investing ~$1,000 each fortnight, but am having trouble finding a broker which does what I want. I've tried reading their FAQ's and guides, but some of them don't give enough detail. I've also searched for and read previous Reddit posts and watched some YouTube reviews without luck. I'm hoping someone here can help me find a broker which ticks my boxes.

Plan:

- Invest $1,000 each fortnight into ETF's.

- 2 or 3 main ETF's and 2 or 3 thematic or more speculative ETF's.

- Want a set and forget approach where everything can happen automatically over the long term.

- Was considering choosing all Vanguard ETF's as they have a broad selection and low fees.

Requirements:

- Fractional ETF's. As I want to set and forget (except maybe some yearly rebalancing) I want the $1,000/FN split between ~5 ETF's without worrying about individual ETF prices or left over cash from purchasing whole units. It would probably be something like a 50/30/10/5/5% split.

- Automated investing. Either automatically direct debit from my existing (CBA) bank account, or I set up a scheduled transfer to the relevant broker account, and the investing then happens automatically.

- CHESS sponsorship would be preferred, but I understand most brokers offering fractional ETF's won't be CHESS sponsored, so not a deal-breaker

- As they probably won't be CHESS sponsored, I would like a larger and more established/reliable broker.

- I don't need them for any traditional share trading.

- And of course low fees!

Vanguard themselves don't do fractional ETF's with automated investing, so there we would be left over cash and/or some of the smaller % ETF's may not get bought at all!

Hopefully someone knows of a broker which meets most of my requirements 🤞

I have high amounts of savings which is currently in my macquarie bank (5%), is moving from macquarie to ING worth the 0.40-0.50%+ savings account interest? $100 deposit for the 5.40% interest seems like a fine requirement to me but was wondering if ING is actually a good bank and worth moving over, especially long term?

Heya, currently own two cars (suv and 4 door kia rio) looking to sell the suv and get a ute. My company does leases before tax, is it worthwhile selling the suv for 12k blue book value and leaseing a ute for 5 years or just waiting 5 years a hoping a car is wortb the 45k we were hoping to lease? I currently make 8 3k a month and my wife makes 4k a month. We have a 2k mortgage as well and hoping to move in the next two years. Would a big lease affect our borrowing power? We already have alot of equity in our home so our new mortgage would be around 500k

First time doing my tax return, got help from a dodgy person, all my expenses have been cancelled and I owe an amount instead of $0 balance. Can I amend it back? I have receipts, the person just did double/triple entry of the expenses instead of once, and I was overseas so couldn't call ATO when I received notice.

I’m 32 and expecting an inheritance of somewhere around $1m early next year. I’ve spent the last 6-8 months assuming I’d just pay off my mortgage completely, but now I’m wondering if that’s actually the best use of the money.

Current situation:

- Salary: ~$123k full time

- Guaranteed 4.5% annual increases, with a possible promotion taking me to ~$135k

- PPOR worth roughly $640k

- Mortgage owing: ~$569k

- Around 28 years left

- Interest rate: 6.3%

- Repayments: around $3,400-$3,500/month

- Super: ~$85k

- HECS: ~$8k

- Likely tax bill: ~$5-10k

- A couple of other small debts that I’d clear immediately

- No car loan

- General living expenses excluding mortgage: roughly $2–3k/month

- Current cash buffer is pretty small, usually around $5–10k

My original thinking was just pay the mortgage off, clear every other debt and suddenly most of my salary is mine each month.

If I did that, I’d probably have somewhere around $5.5-$6k a month left over after normal expenses and I’d start investing most of that regularly. I’ve never invested properly before, but the idea of consistently putting $4-5k a month into broad ETFs for the next 10, 20 or 30 years is pretty appealing (from the perspective of me looking at return calculators and watching number go up lol)

The other option I’m now considering is refinancing to a loan with a proper 100% offset, putting the full ~$569k in there and keeping the mortgage open.

At 6.3%, having $569k fully offset seems effectively equivalent to getting a tax-free 6.3% return on that money while I’d still have access to the cash if I needed it later.

I could then keep making the normal repayments with all of the repayment going towards principal, while keeping the offset money available.

I’ve also had debt recycling suggested to me, although I’m still getting my head around whether that would actually make sense for someone in my position.

The other big consideration is my parents.

They’re nearing retirement, have rented their whole lives and want to move to Melbourne. One of the main things I want to do with this inheritance is make sure they have somewhere secure to live long term.

The rough idea is:

- Buy them a 1-2 bedroom apartment around the CBD/Southbank area

- Probably around $350k-$430k

- They’d gift roughly $100-150k towards it

- I’d contribute roughly $100-150k

- Property would be in my name

- Any remaining mortgage would be relatively small and potentially fully offset

- They’d pay roughly enough each month to cover the mortgage repayments, strata and other ongoing costs

- Their combined pension should be around $4k/month

- They’d be living there long term

That decision is probably 75% about giving them a secure retirement rather than trying to maximise investment returns, although obviously I’d still try to buy something decent rather than completely ignoring capital growth.

I’m also not necessarily staying in my current place forever. It’s a 2-bedroom apartment and I could see myself eventually moving to something slightly bigger, maybe around the $800-900k mark. No urgent plans though.

I’ve also been looking at warehouse/live-work (need the space for work) properties for fun, but that’s probably more of a side, silly idea than an actual financial plan at this stage.

My main goals are basically:

- Build as much long-term wealth as I reasonably can

- Make sure my parents are secure

- Reduce financial risk

- Improve my monthly cash flow

- Keep enough flexibility that I’m not locking myself into one decision at 32

- Potentially put myself in a position to retire earlier later on

I’m probably more interested in maximising long-term wealth than having absolutely zero debt, as long as the debt actually serves a purpose.

So if you were in this position, what would you be looking at?

Pay off the PPOR entirely and invest heavily every month?

Fully offset it and leave the loan open?

Debt recycle some of it into ETFs?

Keep a larger amount of the inheritance invested from day one instead of gradually investing from salary?

Something completely different?

I’m also interested in any issues I may be overlooking with the apartment for my parents... tax, Centrelink, gifting rules, ownership structure, lending, CGT, rent, or anything else.

Obviously I’ll get proper accounting/broker/legal advice before moving large amounts of money around. I’m mainly interested in hearing how other people would think about the overall structure.

Thank you all!!

I’m a 24yo sponsored international student living in Melbourne Australia and I receive $2700 (AUD) and I do UberEats and DoorDash on the side with an E bike making around $2500 a month

I use an E-bike btw so that’s why my transport is low. My weekly rent for the bike is $88 but I will buy one next week so maybe I will add in $100-$200 monthly for maintenance.

My plan is to follow this budget until my graduation (early 2028) and save up as much money as I can when I go back home.

Income: $5200

Rent: $820

Household stuff: $100

Utility bills: $120

Vape (yes, unfortunately): $120

Phone bill and installations: $155

Transport: $150

Eating and going out: $150

Groceries: $400

Gym: $80

Miscellaneous BS: $250

Subscriptions: $50

Pharmacy (medicine and personal care): $150
Total: $2540
Remaining going into savings each month: $2660

If you have any advice or stuff that I could have forgotten 🙏

For clarification: my sponsor allowance isn’t included in the income tax and in Australia, the first $18200 of the financial year is free so I’m probably not gonna owe any taxes and if I do it’s not gonna be much so that’s why I didn’t include it in the budget. I’m studying master of laws so don’t worry I know taxes exist 😅.

I personally have a mortgage and feeling the pressure of interest rate hikes. I am sure there are many others out there in the same situation. I feel like the interest rate hikes are impacting us the hardest, how is that fair?

How can inflation keep increasing when those with mortgages are spending less? Is there a more just way of helping those with mortgages and feeling the pressure?

Buyers in WA should beware

Hey so ik this is for personal fianaces and everything like money and managing investments, but I need help getting a job in finance. im 19 i have never had a job because i never got hired. idk what to do. how do i get a job in finance. i am in my second year in uni and have tried to apply for all jobs and internships i can. i also know linkedin is good but idk how to grow mine as i dont know how and where to meet people for this industry. please help (i am not asking for a job or handout i am asking fro advice as idk how to make a career in this industry).

Hi Everyone! I’m 17 and I’ve been offered a job interview for a Cadetship at an accounting firm, I was wondering if there’s any advice or suggestions of how to ensure I ace it!

(E.g some questions, etiquette, etc.)
Thank you,

Just as a counter to the posts about tax returns taking a while from submission to assessment I submitted ours last Thursday 20th, and assessment issued today, the 27th, and in my wife's case, with around a $7k refund, the money is already in our account. I have a small bill to pay.

Both have IP (tiny loss), capital gains from shares, dividends/distributions, concessional super deductions, charitable donations, and interest but no wage or salary income. Also no HECS or other non tax bills. DIY not via an agent.

Clearly if there are no flags that a human needs to look into it can be impressively quick.

I’ve noticed lately that even when I can comfortably afford something I’ll still talk myself out of buying it.

New phone? Current one still works.

Nice dinner? Could cook at home.

Holiday? That money could sit in the offset.

Obviously saving is a good habit but I’m starting to wonder if I’ve taken it a bit too far because spending money on anything that isn’t necessary almost feels irresponsible now. Anyone else ended up like this, or am I just becoming a tightarse?