Going Eco Friendly Can Help You Save Money!

eco friendly

eco friendly

Disclaimer: Quick Online Loans is a lender-finding service. We do not offer financial advice. Consider seeking independent legal, financial, taxation or other advice to check how the information and ideas presented on this website relates to your unique circumstances.

Going green and eco friendly is probably something many of us have thought about at one time or another. With the constant reminders that climate change is one of the biggest issues that is facing humanity today, it’s hard not to consider the option, even in passing. And it’s easy to see why it’s becoming such an issue. With a booming population, increasing waste output and decreasing resources, we think it’s safe to say that the world is reaching a breaking point. In light of these dire facts, many of us are again seriously considering adopting eco friendly initiatives.

For those who haven’t quite embraced the green lifestyle, we definitely get that the idea of going green may sound like a bit of an ordeal. Many will put off adopting an eco friendly lifestyle as they just can’t justify many of the initial startup costs. Or, it may seem like too much effort when you’re already short on time. And we understand this, we really do.

But, what if we told you it doesn’t have to be as expensive and time-consuming as you might think? What if we told you that with just a little effort, you can actually save yourself money in the long run? Too good to be true? Maybe not! We’re going to show you not only how to do your bit in helping the environment, but how to do it in a way that can save you money! So, let’s be thrifty, go green AND be environmentally conscious.

For those who are considering being more eco friendly, going green is beginning to look more and more attractive.

How to get into the habit of going green – the easiest ways to start out!

Starting something new can often the hardest part of any journey. After all, where do you even start? What do you need? What actions do you take? It can all be a little overwhelming without a bit of handy guidance! So, behold, some quick tips for getting your thrifty, eco friendly journey going.

Start using less energy

OK, this one goes without saying. The less (non-renewable) energy we’re using, the more money we are going to save. Begin by doing simple things such as turning off light switches if you’re not in the room and turning off electronics at the powerpoints when not in use. You would be surprised how much power your appliances use on standby mode! That’s literally money that is seeping out of your wallet for no good reason.

Another great way to easily start reducing your power output and go green is in the laundry! Wash your clothing in cold water rather than hot. Your clothing will be just as clean and you’ll save a pretty penny. Also, consider line drying your clothing! Tumble dryers are notorious for chewing through power. Start hanging your washing up as often as you can and just watch your power bill decrease. Not to mention extending the life of your clothing – heat ruins the fabric of your clothing! Start using these gentler methods and not only will it save you money immediately, but your favourite pair of jeans will last a lot longer as well!

Install those LED light bulbs!

Yes, this one is going to be a small investment, but the rewards are huge! LED light bulbs can last up to 10-years. Not only is this going to save you a chunk of money on constantly replacing light bulbs, but they’re a lot better for the environment as well. They’re eco friendly and long-lasting. You don’t have to buy them all at once. Start picking up a light bulb every other week and your home will soon be filled with lighting that you can feel good about.

Change your showerhead

Have you considered a low-flow shower head? Not only are they fairly cheap to purchase, but they’re designed to use a heck of a lot less water than your traditional shower head currently does. Your water pressure won’t be compromised, but they release and waste a lot less water. Go green and your water bill will thank you.

These may not sound like drastic changes, but changing your small everyday habits can have a big impact on both your wallet and the environment. That’s a pretty big perk in our books. These suggestions are only a few of the multitude of money-saving, environment saving tips out there. Looking to take it a step further? Take a look here for more handy tips and tricks!

Some short-term tips when you’re going shopping

Now, we’re the first to admit that not everyone is going to have the spare cash to go and invest in a bunch of expensive “eco friendly jars” or other gadgets that influencers on Instagram are touting as the “next big thing” in the move towards environmental sustainability. So, realistically, what can you do to help save some money and be eco friendly friendly at the same time? Well, lots as it turns out! It’s more about being mindful than simply investing in expensive habits.

Buy pre-loved goods

This one is probably our favourite. Nearly everyone loves a good op shop day. And it doesn’t have to be just clothing! By buying furniture, nick-nacks, clothing, technology and even appliances second-hand, not only are you giving these items a second go at life, but you’ll be saving a pretty penny as well.

This will also help reduce the amount of unwanted objects that may just fade into obscurity. With the amount of belongings that end up in landfills, trash heaps and our oceans, buying second-hand really will be helping fight the good fight! Plus, you can find some pretty cool things if you know where to look. One man’s trash truly can be another man’s treasure!

Quit that bottled water addiction

This tip is close to our hearts. Plastic can take dozens, if not hundreds of years to break down. It ends up in the ground, the oceans, lining the streets or getting burned and releasing poisonous toxins into the air. So, we’re all about ditching the plastic addiction that seems to have gripped so many of us. Stop buying one-use plastic if you can help it. Instead, start taking an eco friendly refillable water bottle with you. Sure, bottled water isn’t hugely expensive, but filtered water from a tap is free.

Invest in a few glass tupperware containers over a few paydays. Start keeping jars from cooking to store your food in (pasta sauce jars work a charm!). Quit the single use sandwich bags and glad wrap.

And as always, if you must absolutely buy single use plastic, recycle, recycle, recycle! There are so many ways to not only do your part for our beautiful earth, but to do it cheap! Go green and help the environment.

Long-term eco friendly investments

Let’s get into some of the bigger green investments you may be considering. These may involve a bit more of an upfront investment, but they’re worth it in the long run!

Solar power

This one’s a biggie! Considering how much sunshine Australia gets year-round, solar power is a definite consideration if you’re looking to go green and eco friendly. It is a bit of an initial investment, but solar power is an incredibly efficient way of not only saving money, but also reducing harm to the environment. Depending on a few different factors (location, energy output, choice of system) your solar panels will pay for themselves sometimes within just a few years. After that, you’re basically receiving free energy!

Want to know if investing in solar power will be worth it in the long run (i.e. how much moolah you can save yourself)? Have a look hereto get a few ideas of the financial benefits of solar power!

Want to know what factors will affect how much your system will cost you initially and how long before it pays for itself? Take a look here for some more in-depth information! Green energy is the way to go.

Plant some leafy trees!

Do you own a home with a bit of a yard or some property? Plant some trees! Some big leafy trees will provide some much-needed shade throughout the scorching summer months, helping to cool down your home. Did we mention that planting trees on your property can also help raise the value of your home over time? Yeah, this is one of those ‘2 birds, 1 stone’ situations. A cooler home means less need for that expensive non eco friendly air conditioning to be running around the clock. That’s instant savings!

Another perk of planting some leafy greens around your place? They’ll help absorb the Co2 in the air! Cooler home, less money spent on air conditioning, and helping to purify the air?? If that isn’t a great motivator to get a shovel out, we don’t know what is.

Being eco friendly is as easy as pie!

It’s heartwarming to see that there are people out there who are embracing the movement towards a more sustainable future by decreasing their waste and giving the Earth a little helping hand. And, not only is this going to have positive effects environmentally (every little bit helps!) but it’s also proving to be a huge money saver for those choosing to go green!

For those who have seriously begun thinking about eco friendly environmental sustainability, the future is now! The sooner we all start doing our part, the sooner we can help heal the damage that has been done in the past. Let’s fight climate change and save some money while we do it!

Plug the hole in your budget with these grocery shopping tips

grocery shopping

Disclaimer: Personal Loan Pal is a lender-finding service. We do not offer financial advice. Consider seeking independent legal, financial, taxation or other advice to check how the information and ideas presented on this website relates to your unique circumstances.

Grocery shopping – the one thing in this world that can make the beloved pastime of eating, scary and anxiety-inducing. While we’re happy just to avoid things that scare me, unfortunately, you can’t just avoid grocery shopping. There are things you are always going to need like toilet paper and detergent, but, we’re going to focus on buying food.

Unlike some of those other products, you actually have a lot more control over what you can buy, like fresh ingredients, so let’s take what we can. We can shelf the debate over why cleaning supplies are so damn expensive for another day.

That being said, there are ways to make your trip to the supermarket a little less financially stressful. Here are our tips for your budget grocery shopping.

Setting your budget

The first thing you need to sort out before optimising your budget is to actually have a budget. Budgets are easy to make and easier to stick to if you make them based off your current needs. Typically, most people may make a budget by arbitrarily setting how much they want to spend each week.

Of course, this can lead to problems, either unrealistic to the point where you are spending money that you don’t need to spend, or you are stretched so thin that you can’t actually maintain this nifty budget you’ve convinced yourself is the answer.

So how do you do it? The trick is to know how much you usually spend, not necessarily how much you wish you could contribute. And don’t worry, it’s easy to figure this out. Simply, do your grocery shopping like you usually do for some time and keep all your receipts. After three months you’ll start to see patterns, but if you need to get started sooner rather than later try just a month. Once you have a good idea of how much you spend on groceries in a month (especially concerning how much you are earning in a month), you can start to set your budget.

Apps are here to help

Now regarding what your budget actually looks like, try not to worry about that too much. There are different budgeting apps you can use, but I personally use an Excel spreadsheet because we’re all about fun here. The main thing is to have a very concrete breakdown of how much you spend on certain things at the shops.

If you usually spend $40 a month on meat, does that mean you can pay $10 every week? Maybe less for some weeks so you can buy a nice expensive steak in the last week of the month? Perhaps once it’s in action, you realise that you can comfortably cut $40 a month down to $35 a month and all of a sudden you’re optimising your budget.

It might be a bit difficult or confusing to get your head around at first, but if you keep consistent and stick to a grounded and realistic budget, you’ll be surprised at how much you’ll be saving in the long run.

Picking your store

You work hard for your money, so you need to make your money work for you. Brand loyalty isn’t really something you should be considering if you are trying to make budget grocery shopping work. Maybe Woolworths stocks something that Coles doesn’t, but Aldi has something cheaper than Woolworths!

All of a sudden, brand loyalty stops to matter. Shop around, look which stores have better deals on the things you want and need. If you have found that Coles has cheaper meat, but Woolworths has cheaper vegetables, then go to Coles when you have a meat-heavy shop and vice versa.

We aren’t suggesting that you spread your shop across multiple stores, because that is just incredibly inefficient. But do consider the fact that you don’t need to collect all of the Coles mini collectables. They’re just trying to get you to form brand loyalties! And what did I just say about that?

Buy in bulk

Let’s just stop right there. Everyone says that the key to saving money at the shops is to buy in bulk. But that doesn’t mean that you need to buy a 15kg shipment of rice and the grain silo to store it through winter. If you aren’t a seasoned grocery shopper yet or want to up your budget grocery shopping game, allow me to change your world. Unit pricing. Notice at the bottom of supermarket tickets it lists a price per unit of measurement. You will notice that in general, the smaller a package is, the higher the unit price will be in comparison to the larger size.

The trick isn’t to just buy the most you can for the least, but rather to buy the most you will need for the best relative price. Don’t just buy your 15 kg of rice if you aren’t going to eat it. Only buy enough for what you will actually make, and to that point…

Plan your meals out ahead of time

A classic mistake any shopper can make is writing out a list of what they want to buy, but not what they are planning to cook. See, if you are just buying ingredients, it is quite easy to impulse buy different things that you might not actually need. Always walk into the grocery store knowing what you are cooking with what you buy, and you won’t end up with $40 worth of spices that you saw on MasterChef that one time. Speaking of which…

Learn to like cooking

It goes without saying, but cooking your own food instead of eating out or buying pre-made is significantly cheaper. Why not put to test those skills you’ve (maybe) learnt watching 7 seasons of Master Chef? That being said, not everyone has that luxury. It’s easy to see cooking as a chore you have to do every day. If you are ever stuck for ideas, Woolworths usually has recipe cards that use stocked items, so that’s worth keeping in mind.

You might find that the more you cook, you’ll become inspired to create innovative dishes that tickle your taste buds!  And the more you will start to like cooking, and more importantly, the more you will stick to it. And hey, cooking each day does take a chunk out of your evening. Maybe consider assigning a day or two to meal prep, and save yourself having to cook every day. Eating the same thing for dinner or lunch a few times a week isn’t the end of the world. However, remember to keep it varied!

Keep it varied

We’re sure your world famous mac and cheese is just fantastic, but you can’t just eat that every night. One of the quickest ways to revert back to ready-made meals is to eat the same thing over and over again. It may work for those muscly guys at the gym, with their brown rice and tuna 6-8 times a day but it doesn’t have to be that way.

The beauty (or horror) of supermarkets is that the specials change weekly. So you can try a different set of meat and vegetable week to week, instead of trying to find a way to make the same ingredients work every week. Also, why not eat with the season?

Buying seasonal produce is excellent for a couple of reasons. Firstly, it is always cheaper in season. It is fresher and better quality in season.

grocery shopping

Consider a vegetarian approach

Put down the pitchfork for just a moment, and let me explain. Cooking vegetarian is, in a lot of cases, very cheap. And no, I’m not referring to vegetarian sausages that ironically cost an arm and a leg, but rather more staple veggies and legumes. A great example is lentils. They fill you up, make a great meat substitute, and are around 5 times cheaper than beef mince. Think about replacing or substituting some meat in your dishes with veggies (lentil tacos for example). Trust us, you’ll be surprised how much further you can make them go and for how much cheaper.

Look into online grocery shopping

grocery shopping

Finding the time to write lists, make meal plans and actually cook your food is a whole issue in itself. It doesn’t help that actually going on your budget grocery shopping adventure is incredibly time-consuming as well. So if time is tempting you towards expensive ready-made meals, consider online grocery shopping.

More and more supermarkets are offering online grocery shopping Australia wide. You may find something asking where is a grocery shop near me? Well, don’t. Simply order your groceries online. What an exciting sign of the times!

Think paying to have your shopping delivered doesn’t not make sense? Think again. When we are talking about budget grocery shopping, a lot of places offer free pickup. This means that you can pick everything you want online, and instead of wondering “when will I have time to go grocery shopping?” you instead only have to ask “where is the best grocery shop near me?”.

So what do we take away?

We have focused a lot on how important your own cooking is to optimising your grocery shopping budget. And it’s probably the most important factor in not breaking the bank. If you plan out your meals, when you’re going to cook them and how you’re going to keep it varied, then you should have no trouble sticking to your optimised budget grocery shopping! But take it in baby steps, try the things we’ve suggested in small doses to see how it works for you.

Hopefully, these tips and insight from inside the belly of the beast will help make your next trips to the grocery store a little less stressful. Oh, and please bring your reusable bags!

Let’s stay in touch

We love tips on saving your hard earned moolah. If you do too, check out our previous how to on pet adoption and how it’ll save a life and your wallet. Of course, we love saving money, but we also know that emergencies aren’t planned. And that’s where we come in! We can help find you a quick loan.

Have questions about our loan service? Simply hop onto our website and send us a quick message and our loan finding specialists will get back to you.

Want more of Quick Online Loans? Great! Follow us on Facebook, Instagram, and Twitter and also keep up to date with the latest personal finance and lifestyle trends via our blog.

Rescue An Animal: Help Your Community and Your Wallet!

Do you ache to hear the pitter-patter of little paws on your floor? Or require a buddy for your nightly sofa indulgence? Well, we can bet you’re on the look for out for a furry companion. You’re probably trying to decide whether to buy from a breeder or a pet shop, however, let’s throw another option into the mix: why not adopt a pet? Whether you’re looking for a tiny baby to nurture, a teenager who (mostly) ignores you, a middle-aged professional or an old timer; adopting a pet ticks all the boxes. Doesn’t matter if you’re team cat or dog, or if you’re looking for something off the beaten track. When you adopt a pet, you can find what you’re looking for, and more!

Not convinced? Let’s dive into why you should be thinking about adoption.

Adopt a pet: rescue an animal

You know that warm feeling that eclipses your heart when you sip a cup of tea? Imagine that amplified for all the feels. That’s adopting a pet. You’re not only gaining a new companion, but also granting a precious animal a second chance at happiness. What a gift to give! According to their annual report, the RSPCA euthanased just under 13% of dogs they received in the 2015-16 financial year. And the news gets worse for kitties; in that year just under 30% of RSPCA’s cats were euthanased.

But, don’t worry, it’s not all bad news! The numbers are down 13.2% from the previous year for dogs, and the number of kitties being rehomed was up to 11.18%.

In a world of online trolls and hate groups, we can always use a touch of kindness, something that extends beyond our own self-interest. No matter what, we have the power to put love and happiness into the world. Because in the end, isn’t that all that matters?

adopt a pet

Pick and choose

You may have a dream breed in mind when you’re on the hunt for the perfect companion, but don’t close yourself off to other options. If you adopt a pet, there is a myriad of breeds and personalities to choose from. They may not have a pedigree pug, but you can find all kinds of lovable misfits. And you may spot some breeds you have never thought of! You never know until you look.

The hard work is done for you

Having a new furry friend can be a bit of a catch 22. Before long, your couch, carpet and socks will certainly pay the price. If you adopt a pet from somewhere like the RSPCA, your new friend will come equipped with potty training and basic obedience skills. So, forget about chasing after your munchkin with a handful of socks in its mouth; adopt a pet and you’ll get to enjoy your new companion without the headaches of training.

Fit as a fiddle

When you adopt a pet, you can be sure they’ve had a comprehensive health check. If you adopt from the RSPCA (and most other reputable shelters), all animals come desexed, vaccinated, microchipped and up to date with flea and worm treatments. There will be no urgent trips to the vet, or pulling at stitches (unless your furry friend decides to swallow something it shouldn’t). You simply need to provide a happy home for your pet, with toys and love in abundance.

Support is always on hand

If you find yourself at a loss with your new companion, don’t hesitate to ask for help from their previous caregivers. Most shelters are more than happy to provide support when an adopted pet is settling into their new home. If you’re a first-time pet owner, then you may find yourself overwhelmed (with panic and adorableness!). So, don’t spend time worrying, when you could be cuddling with your new best friend.

Keep costs down

If you decide to purchase your pooch or kitty from the nearest pet store or breeder, you can expect to pay anything from $500 to $2,000! It all depends on what breed you want, but costs can begin to acquaint to a large hot, steaming mess if you’re not careful. So, for the sake of your wallet, adopt a pet instead. It depends where you look, but in a pet shelter, you’ll be able to find a furry friend from $30 to $300! Your wallet will certainly appreciate the savings.

An example of kindness

When you adopt a pet, you become a poster child for kindness. If someone asks where you got your adorable pet, you can tell them you adopted. Kitties and puppies waiting in the shelters around Australia will thank you.

That warm fuzzy feeling

And finally, the most compelling reason to adopt a pet; it just feels damn good! Pets already come with their own wellness advantage. They are known to reduce anxiety, lower blood pressure and stress, and boost immunity! Adopting a pet unlocks a secret level of added benefits. You feel that warm fuzzy feeling you get when you are motivated by love and kindness. When you’re playing with your pup or kitty, or when you’re snuggling in front of the TV, you’ll be reminded you gave a beautiful creature a second chance at life. Sorry, please excuse us while we get all emotional.

Where to adopt a pet

There’s plenty of real estate space for pet adoption shelters. Of course, the one that comes to mind is the RSPCA. The RSPCA is a great place to start for any first-time pet owners. Their website is jammed pack with info on adopting and taking good care of your new furry friend. Each pet comes with a cheeky, and detailed description of the animal’s personality. So, before you bring your pet home, you already know its likes and dislikes.

The RSPCA isn’t the only kid on the block. The AWLQ is also a great alternative. The shelter is a temporary home to 17,500 stray animals a year and they’re all looking for a new place to call home. AWLQ also provides useful details that any potential owner should know. PetRescue is another pet shelter filled to the brim with little kitties and pups ready for your love.

adopt a pet

How to adopt a pet

To adopt a pet you simply need a welcoming home and some free time to smother your new friend with love. To begin the process of finding your rightful soulmate, you have to know what you’re looking for. So, decide whether you want a kitty or pup, what age, and whether you’re after a particular breed. Then, you can begin the search for your perfect companion and be prepared for the onslaught of knee-weakening adorableness.

With such adorableness, it may be hard to pick just one pet, so that’s where those descriptions come in handy. They don’t just serve as some light reading. These little bios are also a good indicator of whether you’re a good match for a potential companion. The descriptions will include details like:

  • Whether they are suited to an outdoor or indoor life
  • Medical details, such as vaccinations, desexing and worming
  • Age, sex, size, colour, coat and breed
  • Behavioural quirks
  • Whether they are suitable around children

And other random, fun details that will make you fall in love before you even meet your new companion.

So, after you’ve scanned the internet for your perfect snuggle mate, simply set a date to meet your potential companion and find out if you both like each other.

And the rest is…paperwork. Of course. But after that, it’s time to get your home ready for your new arrival!

Pet adoption is available for prospective pet owners across Australia. So, that means you can adopt a pet Brisbane, look for pet adoption Sydney, find pet adoption Melbourne, and many more! Your new best friend is waiting somewhere near you.

Prepare your home for the latest arrival

adopt a pet

You’ve found your perfect snuggle buddy, now it’s time to set the stage for her/his arrival. Don’t worry, there’s no need to panic, we have all the essential tips to help pamper your new companion:

Don’t live alone?

If you don’t live alone, make sure everyone in the household is ready for the latest addition to the pack. It’s important to discuss the responsibilities of owning a pet. Make sure everyone is on the same page before diving head first into this new adventure.

Treat Yo Pet.

We all need a little pampering every now and again, so before you welcome your new pet into your home, buy them a few treats. Of course, start with the essentials; food, bedding, a few toys, but hey, why not throw in a comfy coat? Or fancy collar? But make sure it’s safe for the animal to wear; it’s all fun and games until your latest sweetheart destroys your latest $50 purchase.

Make a special place for records. Make sure to keep track of your pet’s paperwork, so when the vet comes calling, you have all the essential info.


If you’re adopting a little pup or kitty, it’s time to baby-proof. Basically, anything that’s on the floor – move it! Especially dangerous objects like electronic chords, chemicals (traps etc.), and any choking hazards.


The big day has arrived and your pooch is travelling to their new home. So, make sure it’s comfy and safe. Ask the shelter if your new pet has any issues with car travel and take that into account.

Sensible love.

You may want to smother your new friend with an abundance of love, but they may need some time to get used to their new home. So, balance the cuddles and pats with space and rest. Give your pet time to adjust to the transition, whilst getting to know you as well!

Have a keen eye.

Your new pet may be up to no good in the first few weeks at their new home. So, take special notice of their habits; the good, the bad and the ugly. Like, if they have a thing for socks, create boundaries around the laundry room.

Before you go

A life with a pet will evidently mean vet bills and pet finance. And they’re the opposite of adopting a pet in that they are just plain expensive! So, if you ever find yourself in a rut, turn to us, and we can sort you out with fast cash loans for vet bills. And we mean really fast. Simply fill out our 4-minute application, receive a conditional approval within 60 minutes and we’ll match you with the perfect lender. It’s that easy.

So, don’t let vet bills hurt your relationship with your companion. Let us take care of any financial strains!

Let’s stay in touch

It’s no secret that we are in love with how to save tips, because we know that emergencies aren’t planned. And that’s where we come in! We can help find you a small loan.

Have questions about our loan service? Simply hop onto our website and send us a quick message and our loan finding specialists will get back to you.

Want more of Quick Online Loans? Great! Follow us on Facebook and be sure to enter the Facebook cash giveaway, Instagram, and Twitter and also keep up to date with the latest personal finance and lifestyle trends via our blog.

How to Treat Yo Self on a Tight Budget

how to save money

Last time on the Quick Online Loans Blog, we had a look at creative ways to cut costs and save a few bucks. We think budgeting is pretty important, so we’ve dedicated another blog to savvy money-saving tips. This time it’s less about money (boring!), and more about treating yo’ self. We all love spending time with family and friends, but sometimes we can lose sight of ourselves. When you add work and pesky bills to the equation, then your needs almost disappear. Soon you become a spending machine, but only on the necessaries. Groceries, bills, gifts, rent, and the list could go on. After you satisfy all the hungry beasts, there may only be pennies left for some good old fashion me-time. Well, we think it’s time that you treat yo self (even if you’re on a budget) because you’re worth it! You may be thinking that how to save money and treat yo self don’t really go hand in hand.

Ah, think again!

So, let’s find out how to treat ourselves! (on a budget).

Where it all began

The treat yo’ self mantra originated from the legendary Parks and Recreation sitcom. Since 2011, October 13th is Treat Yo’ Self day, so mark it on your calendars! Even though the Treat Yo’ Self Day only comes around once a year, the feeling it gives you can last all year round. The lesson we’ve learned from the treat yo’ self philosophy, sometimes we need to unwind, and just smother ourselves with love, instead of everyone else!

Treat yo’ self to a social life

Everyone at some point in our lives experiences a strict budget lockdown. Whether we are saving for a new car, or a home, or adventure holiday. And we start to neglect our social life. Sometimes we forget that spending time with our loved ones is the pampering a stressed soul needs. A chapmers with your squad can be the cure to any wired nerves. However, when the pockets are light, we can begin to see outings with our friends as a chore. Let how to save money and treating yo self come together and become a winning trio. It’s possible to chill with our squad and not risk spending your grocery funds.

Here are some tips on how to save money and enjoy your social life:

  • Host a potluck dinner party.

    Sharing is caring. So, gather your friends and share in some home-made goodies. This way everyone can shine. Cook what you love and share it with your friends. It’s cost effective and super delicious!

  • Have a spa day.

    In our last budgeting blog post, we outlined that DIY thinking is the key to how to save money. Well, nothing’s changed. In order to take control of your social life with loose change, learn to think DIY. Start by hosting your very own spa day. We’re talking homemade face masks, amateur massages and using essential oils lying around the house. Make use of your environment without having to pay someone else for their space.

  • DIY party.

    Who doesn’t love a party? All your friends gathered for a night of laughs and love, however, for the hostess especially, they can cost a few bucks. So, if you’re hosting a fun-filled party for your gang, head to Pinterest for all the DIY party decor tips.

  • Hang out amongst the trees.

    Spend an afternoon in a local park. Soak in the beauty of nature and enjoy a lovely picnic, complete with cheese, crackers and maybe some sneaky chocolate!

  • Volunteer together.

    Here’s something that doesn’t cost anything, your time! Give up your time to help others in need. And make a date out of it, invite all your friends for a bonding sesh, whilst spreading love and kindness in your community.

  • Game night.

    Break out the cranium, have yourself a game night. Each friend brings their favourite game for everything to enjoy. Paired with a few glasses a wine and that’s a fun (yet cheap) Saturday night.

  • Go swimming!

    Locate the nearest watering hole and dip your toes in for a refreshing (free!) experience.

  • Go to the da clubs!

    And no, we don’t mean the party clubs (they are certainly NOT free). The clubs we are thinking about are a book club, card club, wine club or anything else your passionate it.

There is a myriad of ways to enjoy your friends’ company without breaking the bank. So, let the creative juices flow!

Treat yo’ self to some fitness

We all know they say, “Healthy body, healthy mind.” Yet, when you’re reaching into your pocket for loose change, you may not be able to afford a fancy gym membership. But don’t give up on your fitness dreams yet! There are plenty of ways to treat yo self to some fitness without disseminating your budget:

  • Take advantage of your space.

    There are plenty of ways to exercise that won’t bent your budget. Try a run around your local park or a jog with a nearby friend. Once you get into the routine of exercise, it becomes second nature.

  • Buy equipment second-hand.

    If running around in circles isn’t your thing, then spice up your exercise routine with some equipment. However, as we all know, exercising equipment cost a bit more than a few pennies. So, head to the internet and hunt down some second-hand bargains!

  • how to save money

  • Get on them apps!

    Technology has gifted us some wonderful things, from cute videos to hilarious memes, technology is certainly a beauty. But did you think about how it can save you money? Well, good news it can! There are plenty of apps to teach you all about the latest fitness crazes. Such as Sworkit or 7 Minute Workout app. There are too many to choose from, so just pick one that you like and get going.

  • Search for studios that offer free classes.

    Some studios or gyms offer free classes as a trial. So, you can try before you buy!

  • Combine your social and your fitness.

    Join a social team! You can use it as an opportunity to make some new friends or join the team with your fitness-crazed friends. No matter where your talents lie (or how coordinated you are), a social team is perfect for beginners and experts alike.

  • Get healthy is cheap!

    Maintaining a healthy diet will help you cut costs, and improve your fitness. It’s the best of both worlds. Preparing a salad for lunch instead of heading out for a cheeky burger (no matter how delicious!).

Budget health cleanse – how to save money and eat healthily

You may think how to save money can be tricky when you want to treat yo self to a healthy diet. Everyone deserves the benefits of a healthy diet, no matter your budget. Before you shake your head in disbelief, whilst thinking of the cost of organic health food, let us show you a few money saving tips for healthy eating:

  • Plan your meals.

    As we mentioned in our last budgeting tips blog post, the key to how to save money is to unleash the meticulous planner within you. Planning your meals can help improve your diet, by cutting out those late night burger buys (we’ve all done it). Set aside a day to plan your meals for the week, then when you’re grocery shopping, remember to stick to the plan.

  • Hunt for bargains.

    When you’re planning your weekly meal plan, keep an eye on the sales of the week. See what’s on sale, then work your meal routine around savings a few bucks.

  • Utilise the power of leftovers.

    Cooking is tricky, so why not reduce the number of meals you have to cook? By utilising the power of leftovers, you can cook one big meal and live off its remains for a few days! It’s an easy way to stay healthy, and exy food costs.

  • Limit your junk food supplies.

    This may seem like an obvious health tip, however, it can always save your valuable moolah. Treating yo body to a healthy diet by reducing sugar and junk food will also treat your wallet.

  • how to save money

  • Let treats..be treats.

    Sometimes we can believe in the treat yo’ self philosophy so much, that we never stop treating ourselves! Don’t let treating yo’ self become your only motivator. Afterall, treats aren’t as rewarding if we have them all time!

Treat yo’ self to some me-time

Sometimes the most valuable time we have is me-time. When life becomes stressful, and your mind becomes busy – it’s time for some me-time. However, when people think me-time, they think expensive or simply a waste of moolah. As a result, we tend to neglect ourselves and the stress culminates and begins to affect all areas of our lives. So, here are some simple money saving tips for some much-needed me-time:

  • Get out and about the town.

    Take some time and explore your own stomping ground. Take a free walk around a beautiful spot in your neighbour. Walking amongst nature can free your mind and is completely free! Just make sure to stay sun safe.

  • Get in touch with the child within.

    Remember when playtime was the most exciting part of your day? Well, let’s bring playtime back for adults! Set aside time in your day to simply enjoy the things you love. Whether that’s a soothing bath, playing a sport, escaping into your favourite book, or whatever you look forward to a long day of work. And you can do it all in the comfort of your home!

  • DIY pamper night.

    DIY is certainly a buzzword when it comes to budgeting and treating yo self. When it comes to nailing DIY, it’s about believing in yourself and some serious internet researching. To treat yo self, set aside a night to make your own pampering products; scrubs, peels, face masks and the list could go on. You can set up an entire skin routine for yourself with just common and inexpensive household items. And hey, it’s relaxing!

  • Do something special…for yourself.

    Feeling stressed and overwhelmed? Don’t wait for something else to make you breakfast in bed, make it yourself!

  • Unplug.

    Sometimes the best way to treat yo self is to advance into the unknown. For a most of us, a day without social media, texting or gifing is certainly unknown territory. But why not give it a try? Replace your social media time by inviting a friend over, or just simply taking a walk, read a book or some other activity that helps you relax.

How to save money and treat yo’ self

And that’s it really! It’s the secret elixir for life, how do we save money and pursue things that you love to do. Hopefully, there money saving tips opens you up to a world of unexpected, (and inexpensive), ways to Treat. Yo. Self.

Let’s keep in touch

Whilst we are in love with how to save money tips, we also know that emergencies aren’t planned. And that’s where we come in! We can help you find you a small loan OR even more ways to save while still looking good.

Have questions about our loan service? Simply hop onto our website and send us a quick message and our loan finding specialists will get back to you.

Want more of Quick Online Loans? Great! Follow us on Facebook, Instagram, and Twitter and also keep up to date with the latest personal finance and lifestyle trends via our blog.

And don’t forget to treat yo self!

Budgeting tips: How to cut costs to save a few quick bucks

budgeting tips

Today’s market has brought us many wonders. Red velvet lattes, high-end vacuum cleaners, talking watches, streaming services, the list could go on. The market is flooded with all different avenues to spend our hard-earned dollars. With all these tempting goodies, budgeting tips are essential. When it comes to budgeting tips there is a myriad of different tips for saving. However, budgeting tips have become a bit same same, don’t you think? Tips like make a checklist or your review spending, are tips we’ve seen across hundreds of blog posts. So, we thought it was time to get creative, spice things up a little. We have gone far and wide to gather the ultimate budgeting tips to help you cut costs and save a few bucks.

We think that budgeting is a core pillar of personal finance. Money can open up all sorts of inspiring opportunities, but only if you use it wisely. That’s why we are dedicating a few blog posts to exploring the art of creating a budget and budgeting tools. So, stay tuned for a treasure chest of gold advice and essential finance tips. You might just hit the jackpot!

Back to budgeting tips. To best present our ultimate list of budgeting tips, we will divide them into categories. There are many areas of our lives where we can spend exclusive money, such as personal care, technology, travel, home and work. So, let’s dive into how you save a few bucks in all areas of life!

Save a buck at home

Budgeting tips don’t have to start by completely cutting out expenses. Believe it or not, you can begin with simply cutting BACK. To make a budget you first have to learn all the budgeting tips to save a few bucks. Finding ways to reduce costs, rather than rob yourself of life’s pleasures.

Don’t waste your water

It happens to all of us. When we’re washing our hands and forget to turn the tap off properly, and then we just forget about it. All that water slowly dripping out from the tap runs into obscurity! And quite literally drains your water bill.

Research your internet bill

Bills are an efficient way to save a buck at home. In regards to budgeting tips, finding cost-effective alternatives to your current providers is an easy way to save a few bucks. Internet is an easy bill to start with. There is a myriad of different internet providers, each offering different packages. iSelect is a great platform to compare internet providers and will help you find a data package that suits your needs and your budget.

Do you really need the latest Google Home?

Impulsive buying is budgeting public enemy number 1. You may be walking down the isles of your local department store and see a flashy ad for the new Google Home or a wireless charger. We can all acknowledge that these products are pretty nifty, however, are they essential? Not really. Especially, when you’re working on a tight budget.

Get hooked on the DIY lifestyle

We are talkin’ DIY air fresheners, DIY decorating, DIY gifts, DIY containers, DIY cleaning solution, the list could go on! Ignite your creative spirit and challenge it into your budgeting. Instead of spending your hard earned moolah on overpriced trinkets, make your own! Give your home a sense belonging with a touch of you in each piece of your decor.

Stay warm with blankets

Now we are not suggesting you freeze. However, in some situations, a classic, snuggling a blanket would work just as effectively as a heater. And it costs you nothing!

Turn energy-efficient

There is an abundance of ways to become more energy-efficient. Particularly all the energy we use could be converted to efficient usage. The classic omen is to turn off all your lights when they are not in use. We may sound like a broken record. However, it’s possibly the easiest way to save on your rising electricity bill. Also, swap out your dusty old-fashioned light bulbs for fresh, innovative energy efficient bulbs. LED and CFL bulbs require less energy to run and although they may be on the exy side initially, they’ll save you a few bucks in the long run.

Maintain your appliances

f you notice something isn’t quite right with your dishwasher or washing machine, get it fixed! Rather than tossing it out and forking out the cash for a new one. Don’t spend money when you don’t need to.

Budgeting for personal care

Adhering to budgeting tips for personal care doesn’t mean you’re ready to give up your treat yo self-attitude. It means cutting back on a few tiny luxuries you wouldn’t really miss. Budgeting tips for personal care also mean it’s time to release the frugal in you! Follow these budgeting tips for a heavy wallet and a lighter you!

Be on a lookout for bargains

Keep on high alert for any sales and bargains. Browse catalogues and online stores for exclusive sales. Even sign up to their emailing list for that extra 10% off. The vastness of the internet makes searching for bargains without help fruitless. However, never fear, because the internet was gifted as a bargain-hunting helper! Honey is a coupon and discount finding service that will guide you through your bargain exploration. Simply add Honey to your Chrome extensions and it will pick any discounts on web pages you visit.

Take care of yourself

Keep yourself healthy to save on those costly trips to the doctor. Make sure to get a healthy dose of sleep per night, maintain a good diet and regular exercise. Just your basic maintenance activities to prevent expensive medical bills.

Beauty DIY

Treating yo self to a nice spa day is definitely a must. However, they can be costly, and when you’re working on a tight budget, a spa day may be out of the picture. But, wait! Don’t lose hope. Remember our budgeting tips philosophy? Instead of going cold turkey, simply change your thinking. Find a way to enjoy your favourite treat for less! The internet holds a treasure cove of DIY face masks and body scrubs. So, get exploring.

DIY fitness

Paying $30 a week for a gym you only attend once a week after you feel bad about indulging in a whole block of chocolate? Then maybe it’s time to give up on the membership and accept defeat. However, that doesn’t mean you have to drop your exercise routine. There are plenty of videos online that guide you through a yoga class or through a cardio routine. And you can do them from the comfort of your living room. So, no need to spend that $100 to look fancy at the gym.

Save a buck at work

Prepare your lunch

If you’ve developed a habit of buying lunch every day or two, ditch that! Opt for a homemade lunch instead. Set an hour or two aside for some quality time with your pots and pans. Your bank account will thank you! If you can get into the habit of bringing your own lunch, it will never seem like a chore.

DIY coffee

Take the plunge and invest in a nice coffee machine (pods or espresso depending on your level of expertise). It can be a hefty upfront cost, however, the investment is worth it. You’ll save on the daily $4 coffee runs. You could also inspire your workplace to invest in a pod machine by collecting pool for all the costs.

Budgeting for travel

Bike it

If you already have a long commute, ignore this budgeting tip. However, if you’re sitting in your car for 15 minutes on your commute to work, then consider biking it. These budgeting tips work two ways; you can save on petrol and fit in your cardio for the day!


If you have a workmate that lives near you, consider organising a carpool. Like most budgeting tips, this one also has two sides. You can get to know a potentially awesome friend and you can cut on expenses!

Train it

Public transport may be more expensive than biking it, however, it’s certainly cheaper than the price of oil! If your work is accessible via public transport, consider making the switch. It may increase your commute time slightly, however, with the blessing of Netflix, you can catch up on your favourite shows.

Bulk travel

Limit your car trips. Do all your grocery shopping in one trip to save on hassle and fuel! Combine your errands into a super trip where you can vanquish them all in one mission. Bonus: you’ll feel super good about yourself as well!

Save a buck with technology

Technology is not only a tool for procrastination and cat videos but also a gem when it comes to budgeting tips. The wonders of technology can help save you precious time and money. Use the latest technology to book your holidays. Save money on your next accommodation stay with an Airbnb purchase. Or save on your trip back from a night out by ordering an uber. Have clothes just gathering dust? Why not sell them on Gumtree, eBay or Facebook Marketplace? What an achievement! You can save money whilst also starting a profitable side hustle.

The options are endless with technology. The sky’s the limit really.

Technology has also gifted us with apps. Now we know that apps can encourage impulsive shopping sprees, (you don’t even have to leave your bed to go shopping), however, they can also help you manage your money. There is a myriad of budgeting apps to act as your personal finance assistance. So stay tuned for the next instalment in our blog to learn all about how budgeting apps can save a few bucks.

Let’s be friends

Whilst we are in love with budgeting tips, we also know that emergencies aren’t planned. And that’s where we come in! Have questions about our loan service? Simply hop onto our website and send us a quick message and our loan finding specialists will get back to you.

Want more of Quick Online Loans? Great! Follow us on Facebook, Instagram, and Twitter and also keep up to date with the latest personal finance and lifestyle trends via our blog


Paying too much tax? Think tax deductions! Find out how much you can save on your tax

tax deductions

When you hear the term ‘tax’ you may want to run and hide and never show your face again. But never fear, we are here to talk about tax DEDUCTIONS! Mastering the art of tax deductions will bring life back to your finances and ultimately reduce the amount of tax you pay. So, step forward and begin your first step in mastering the art of tax deductions. Your journey to financial enlightenment has begun!

And more good news, the release of the 2018-19 budget includes tax deductions for low-income earners! Here’s a list of new tax deductions you can claim with the new budget:

  • If you earn up to $37,000 you can claim back $200 in your tax return
  • If you earn $90,000 than you could receive a maximum of $530 back
  • As well as a lower tax bracket for any earners with an income of $90,000 and under

4.4 million Australians will receive a maximum benefit of $530 with a reduced income tax rate of 32.5 percent. See how much you’ll save in the next financial year with the new budget.

Now, let’s dive into a cave filled with wondrous tax deductions!

A quick guide to tax deductions

Navigating the field of tax deductions is like finding Wally in a Where’s Wally picture. You must summon the courage to begin the tremendous journey through the perils that await you, such as government websites, mindless government bureaucracy and red tape. That’s why we are here to do all the work for you! Much like with our expert loan finding service, let’s find you the right tax deductions and see how you can save.

What is a tax deduction?

A tax deduction is an expense that you can claim on your tax. Essentially, the amount of the deduction is redacted from your taxable income, and as a result, you pay less tax. You can claim pretty much any deduction that you incur when running your business.

Close up: Tax Deductions – pay less tax!

Here are some answers to frequently asked tax questions on Google:

  • What is an allowable deduction?

    Don’t be confused by the government labelling deductions with extra words. Allowable deduction simply means a deduction that can be claimed. The industry you’re in and what your contract stipulates will drive which deductions are allowable.

  • Who can claim which deductions?

    Everyone who works in Australia and is an Australian for tax purposes qualifies for tax deductions. However, most of the time, the average Australia (who isn’t fluent in tax law), doesn’t know which deductions they are entitled to. Which deductions you can claim to depend on your employment contract and how your business is structured and whether you’re self-employed.

What job-related expenses are tax deductible?

You can claim lots of work-related expenses, so get creative! Expenses you can claim will depend on your industry, however, there are some expenses that are common ground for everyone.

To see what expenses you’re eligible for, here’s a list of deductible work expenses:

  • Vehicle and travel expenses

  • Firstly, there is a difference between work travel expenses and private work travel expenses. Unfortunately, normal travel tips between work and home are classified as private travel.

    However, you can claim vehicle repairs and other travel expenses directly connected with your work, such as work business trips (also, side note – if car troubles are keeping you off the road, we can help find a personal loan lender to fix that!). So, if your boss requires that you fly to Sydney for a conference, you can claim the cost back on your tax! In other words, you can have a fabulous trip to Sydney and save on your taxes.

    Here’s a breakdown of travel expenses that you can claim:

    • Cost of travelling between two separate workplaces
    • From your workplace to an alternative workplace. For example, a meeting with a client or running a workplace errand
    • If you work from home and are sometimes required to travel to a workplace
    • If you work at more than one site during your work hours
    • Cost of travelling when you’re workplace requires you to carry bulk tools that cannot be left in the workplace
    • If work requires you to travel away from home, you can claim it as an expense

  • Clothing, laundry and dry-cleaning expenses

  • Yes, you read that correctly. You can save on your tax by simply wearing clothes to work! Well, not just any clothes, you can claim a deduction on the cost of clothes that are occupation-specific, such as uniforms and protective wear.

    However, if you already receive an allowance from your employer for uniform costs, laundry or dry-cleaning, then you must declare that amount as income on your tax return.

    When it comes to deducting your work clothing expenses, here’s all you need to know:

    • You can claim work clothing that is occupation specific and is not considered everyday clothing. Such as chef uniforms, traddies and other professions
    • You can also claim for clothing and footwear that is required for protection. For example, safety coloured vests, protective footwear, fire-resistant and sun-protective clothing and other clothing to protect yourself whilst at work
    • The cleaning of your work uniform can also be claimed. That includes socks, shoes and stockings
    • You can claim the cleaning costs of work clothing if the amount is greater than 150 and if your total claim for work-related expenses exceeds $300 (not including car, meal allowance, and travel allowance expenses)
    • You can also claim the dry-cleaning of work-related clothing. To justify your claim, you must have written evidence

  • Gifts and Donations

  • Besides the obvious feeling of love and kindness you receive once you give to others in need, you can also save on your taxes! So, you can feel good about yourself, help others and also save money on the side, it’s the perfect combo. Any organisation that has a DGR (deductible gift receipt) means that you can claim your donation back on your taxes. All you have to do is ask for a receipt after you generously donate and, BAM, money saved and the love is spread!

  • Home Office Expenses

  • In some cases, you can claim deductions for bad-ass office equipment, like the latest MacBook or Samsung Galaxy. Using these devices at home for work purposes entitles you to tax deductions.

    If work requires you to work from home, you can deduct home office expenses. There is a range of office equipment you can deduct, such as computers, printers and telephones. You can also claim, heating, cooling, lighting, the costs of repairs to home office products and cleaning expenses.

  • Self-education expenses

  • More good news – if your work requires you to re-educate than you can claim the cost back on your taxes. If the course you select leads to a formal qualification then it is considered an allowable deduction. The course must:

    • Improve a specific skill or knowledge you require for work
    • Result in an increase of salary at your current work

    Unfortunately, if the course doesn’t relate to your current work, then you cannot claim it as a tax deduction.

  • Tools, equipment and other equipment

  • If work requires you to purchase tools to complete your job, you can claim a deduction for some or all of the costs (depending on the price of the tool). If the tool costs less than $300 you can claim the whole cost of the tool, however, if the value exceeds $300 then you can only claim a deduction for their decline in value.
    Unsure if your tool is deductible? Check this list:

    • Calculators
    • Computers and software
    • Desks, chairs and lamps
    • Hand tools and power tools
    • Protective items, such as hard hats, safety glasses, sunscreen and glasses
    • Professional libraries
    • Technical instruments

    And more good news, if the tool breaks down, you can deduct the cost from your taxes.

  • Other deductions

  • When you’re talkin’ tax deductions, a good rule of thumb is to assume that, if you spend your money on work expenses, you can claim it as a deduction. So, get creative! When you’re attending a work lunch, don’t forget to grab the receipt. If you need sunglasses because your job requires you graze in the sun, keep the receipt. If you’re unsure whether an expense is a deduction at the time of purchase, why not be on the safe side and grab a receipt!

  • Deductions for specific industries and occupations

  • For a complete guide to your profession’s list of deductible allowances, see the ATO website.

Tax Deductions and Students

If you’re studying, don’t worry, the government hasn’t forgotten about you. You can claim tax deductions too! As we’ve mentioned above, you can deduct the cost of your course if it relates to your work. For example, if you take a barista course and work in a cafe, you can most likely claim it as a tax deduction. If your course relates to your current profession, you and claim these tax deductions:

  • Course/tuition fees (Not including HECS/HELP)
  • Stationery and textbooks
  • Student service fees
  • Union fees
  • Amenity fees
  • Equipment depreciation and repairs (eg. laptops computer, printer, etc.)
  • Car expenses (if applicable)

That’s a lot of deductibles! So, if you’re work is hinting you should upskill, just think of the tax deductions. As always, remember to grab the receipt for any purchase whilst you’re studying.

Tax Deductions and Families

When you have 4 little rascals running a muck, needing more school uniforms and running into walls, tax deductions must be music to your ears. So, to help save money for the next family holiday, take a look at capitalising on these tax reductions:

  • Take a look at your medical costs
  • If you spend over $2,000 in medical expenses for the financial year (which is likely if you have 4 children who love to run into things!), then you can claim 20% back on tax!

  • Understand all the aspects of family tax benefits
  • If you are a low-income family, you can claim family tax benefits. The rates depend on how many dependents you have and whether you are a single parent family. Check out the rates at Centrelink. Or look at our information on centrelink.

  • Claim child care tax rebate
  • The childcare rebate is a complicated one and with the new changes purposed it looks to be getting even more so. You are eligible for the childcare rebate if you use an approved child care claim and are eligible for child care benefit (the tax rebate and child care benefit will soon be merged into a single payment) and meet the rebate Work, Training, Study test.

    The scheme can cover 50% of child care expenses up to the annual limit of $7,613 per child (will increase under the new scheme). So, if you’re a full time working family, then make sure you look at into the child care tax rebate to see if you can save on childcare expenses.

  • Take advantage of the superannuation bumper
  • If you’re a low-income earner, the government will help pitch in with your superannuation. Therefore, if you earn less than $31,920 and you contribute $1,000 to your super, the government will contribute another $1,000. So, plan for your future with the government’s help!

  • Get to know rent taxes
  • Own a rental property? Well, you can also save money on your taxes. You can claim the depreciation of the building and repairs on your taxes. It’s another benefit of owning a rental property. Don’t own a rental? We have some tips.

  • Claim all the car expenses you can
  • When it comes to taxes it’s time to pull out the binders and unleash the organiser! If you log all your car activity, then you can claim it back on your taxes.

Let’s be friends

Ultimately taxes are here to serve the people, they are used to provide healthcare, roads, education and so much more. But we all need a break every now and again, so keep track of your expenses this financial year for maximum savings on your taxes.

We also know that emergencies aren’t planned, and that’s where we come in! Have questions about our loan service? Simply hop onto our website and send us a quick message and our loan finding specialists will get back to you.

Want more of Quick Online Loans? Great! Follow us on Facebook, Instagram, and Twitter and also keep up to date with the latest personal finance and lifestyle trends via our blog.

Finding rental properties: The must-know guide for any renter

find rental properties

You’ve just received a promotion and your savings have never looked better. You look around at your tiny studio flat, and think “I can do better than this.” Then, it’s time to hit the rental market. To find rental properties, you must take on the challenge of scanning apps, newspapers and newsletter for properties.

Firstly, why rent?

In a housing market, where house and apartment prices in metropolitan cities have skyrocketed above-average incomes, renting has become the cheapest and smartest option. Whilst many of you might be masters of renting, there are plenty of people entering the market for the first time with very little knowledge.

So, let’s start with, what is renting?

Essentially, renting is paying the owner of the property to live in a house or an apartment. To rent the property, you must sign a lease. A lease is a contract between the landlord and the tenant (you). Being faced with a lease can be daunting, so here are a few things to look for when examining a lease:

  • The amount of rent and when to pay it
  • The length of the lease
  • What may occur if you don’t pay your rent on time
  • The rules to follow
  • Other costs you may have to pay (body corporate fees, energy, water etc.)

A lease may also show the cost of utilities. In some rental agreements, utilities are included in the rent! This means that the landlord takes care of these costs.

Typically a lease will last one year, however, some landlords offer 6 months. If you’re simply looking for a short lease, then some landlords also offer short stay leases.

The initial costs of renting

To find rental properties can be a challenge, and in addition, when you add on costs it can be an expensive experience. Entering your rental property may be costly, to begin with. There are several expenses to pay before you start your new life in your home. So, don’t be caught off guard with sneaky expenses. Here’s a handy list of costs to expect when you’re renting:

  • 2 weeks or 1 month’s advance rent
  • Bond
  • If you have a bad credit history, you may need to pay extra

To find a rental property, the initial costs can be steep. If your finances are not feeling flexible, why not apply for a short-term personal loan to cover bond.

How to find rental properties that are right for you

Single and ready to rent, but need a running mate

Looking for your first apartment can do daunting and the majority of young singles cannot afford to live alone. So, if you’re young, single and ready to rent, start by looking for the ideal roommate. To find rental properties can be a long and gruelling project, however, before you begin the process you have to face the challenge of finding the perfect roommate. Furthermore, to help ease this process along here are some tips for finding the ideal roommate:

  • Someone with excellent communication skills: Living together is a big change in an existing relationship. If your roommate is also your friend, it’s important to assess whether you can live with them. The idea of living with a friend may seem fun, however, it can be challenging if you don’t communicate well. Before popping the big question, see how you communicate in a social setting and ask yourself whether you can be honest with them when issues eventually arise at home. Find rental properties with someone who can communicate with ease.
  • Someone who can adapt: When it comes to living with a stranger or a friend, you have to learn to adapt and live with someone who can adapt. We all have our funny quirks that may push other people’s buttons.
  • Someone who is considerate: When you’re living in close quarters with another person, it’s important to remember all the decisions you make affect your roommate. Find someone who you know will be considerate of your space, and also the communal space. Before living together set a standard for how the communal spaces should be left after using them. Another good idea may be to set boundaries for private spaces.
  • Someone who is consistent: Everyone wants the pleasure of feeling safe and supported at home. So, it’s important your roommate is consistent and will always be there for you when you need. To find rental properties, you must be committed to paying rent and utilities, but you must also be prepared to be someone your housemate looks forward to coming home to. No one likes bad vibes at home.
  • Someone who is clean: Cleanliness is probably one of the most important aspects of finding the ideal roommate. This doesn’t mean you have to live with a clean freak! Just someone who wipes down benches packs the dishwasher and doesn’t leave all their clothes spread across the living room floor. Also, remember that your roommate’s room is their business, so don’t fret if it’s messy. Thank goodness for doors, right?
  • Someone who is respectful: To live together, you must respect each other. You are both sharing the burden of rent and bills, so it’s important to trust and respect each other. Respect their time by not demanding you both eat together every single night. Respect their space by not intruding. And simply find someone who is courteous of your feelings and will listen to you.
  • Someone who you feel comfortable with: Above all else, to live with someone, you must feel comfortable around them. If you meet a stranger and for whatever reason don’t think the roommate relationship would work, trust your instincts.

So, there you have it. The perfect recipe for finding the ideal roommate. Now onto to find rental properties!

Now, as much as we may love our friends, the idea of living with them has probably already triggered a migraine. That’s why there are services to help find a roommate that matches your requirements. Another option is to move into a share house with existing roommates. To help you decide here’s a handy list of apps to find solutions to all your roommate dilemmas:

  • Flatmates – to find share houses or team up with friendly like-minded other to put a share house together
  • EasyRoommate – Find your dream sharehouse in any major city in Australia
  • Roomster – One of the most popular, global, apps to help you find a flatmate or get sorted in a share house

Whether you’re moving out for the first time or wanting to save some moolah on rent, finding a share house or flatmate has never been easier!

Couples looking for a love nest

If you’ve reached that happy stage in your relationship where you’re ready to take a big leap, this is for you. Moving in together is certainly that leap. Aside from tying the knot, moving in together is a huge gesture of commitment. Instead of a marriage licence, you now have a year’s lease tying you together. It’s an exciting, yet daunting time for a lot of couples.

To help alleviate some of the stress here’s are some handy, essential tips for moving in with your beau:

  1. Before moving, declutter, declutter, declutter: Before beginning your new life together, it’s helpful to declutter and get rid of some of the baggage from your past life. Get rid of any unwanted clothes (if you haven’t worn a dress in a year – stop telling yourself you’ll wear it again). Set up some criteria when you’re decluttering. Designate piles for keep, sell, donate and toss. Gumtree, eBay and Facebook Marketplace are prime platforms to sell old, but the functional items.
  2. A fresh start, or moving into a familiar ground: A question most couples have to ask themselves is whether to rent a new place or move into the other’s apartment. There is no right answer to this dilemma. It’s all about communication and figuring out what is best for the next stage in your relationship together.
  3. Practise making decisions together: Moving in together is the start of a new collection of fights and disagreements. No sugar coating here. So, it’s best to prepare by practising making decisions together. Decide where you both want to live, how you want to budget, what style of decor you want. There can be an overwhelming pile of decisions to make, so start with the easy ones. Like, Front Loader or Top Loader?
  4. Learn to discuss finances with your beau: Moving in together introduces a new variable into your relationship: money. Learning each other spending habits may come as a shock, so it’s important to get fully acquainted before you moved in together. To get started with finances, create a personal budget together. Decide how much rent you can afford and go from there. It’ll be hard to hide your 2-minute noodle dinners when you’re sharing a kitchen.
  5. Communication is key: Have you noticed a pattern in these tips? Yep, you guessed it, it’s communication. Communication is key to a successful renting experience with your boo. It’s important, to be honest with your new roomie about how you’re feeling and when you’re not comfortable with a decision.

Hunting for a family castle

With the second child on the way, you and your partner are thinking it’s probably time to move out of your 2 bedroom house. Moving with a family can be tricky, but, it’s important to find the right home for your growing family. To assist in the chaos of a screaming 2-year-old and one on the way, here’s a handy list of tips to help find rental properties:

  1. Choose your type: Ask yourself: what type of home to do you want? Are you looking for outdoor space or an optimal location for commuting? Know your priorities and what you’ll sacrifice, as the likelihood of one house ticking all your boxes is slim.
  2. Find the right Neighborhood: Location, location, location. Renting a home is all finding the right neighbourhood for your little ones to grow up in.
  3. Convenience: If your new rental property comes with a commute, decide whether it’s something you could live with permanently. It may seem fine before you start, however, 3 months in, you could find yourself grumpy at the 1-hour commute.
  4. Suitability: When you’re hunting for a new home; think about your future family. Ask yourself questions, like is the kitchen large enough? Are there enough bathrooms to accommodate future newcomers? When you need to find rental properties for the future, it’s important to know how long you plan to remain in one place.

Applying for a rental property

So, you’ve scanned the rental market and learnt how to find rental properties. You’ve found the perfect place that suits all your needs, and all you have to do is apply. Applying for rental properties can be overwhelming, but with systems like 1Form – an online application system, applying for a rental property can be stress-free. To ease the process along, here are some must-know tips when applying for a rental property:

  1. Provide as many financial details as possible: It all depends on what type of property you’re applying for, but any landlord or agency will look favourably on applicants with steady employment.

  2. If you own a pet, be a responsible pet owner: Pet approvals can be tricky, as the landlord may have had a bad experience with pets. So, if you’re applying for a pet in your rental application, include a cute photo and a pet reference.

  3. Complete your application correctly: If there’s a time to detail orientated, it’s when you’re completing your rental application. Before submitting your application, make sure you have filled in other criteria to the best of your ability. At the inspection, ask the realtor if there is any extra information they would like you to include in your application. This elevates some of the back and forth emails between you and the agency.

  4. Bring your whole party to inspect the property: When inspecting your dream rental property, bring along the whole gang. Everyone who will live at the property should be present at the inspection.

  5. Follow-up on your application if you haven’t heard anything in 48 hours: It’s important to follow-up on your application, especially if you haven’t heard anything in 48 hours. Let the agency know you love the property and are excited to move in.

  6. Learning how to find rental properties can take years to perfect. Paying the initial costs of your rent can be expensive, especially if you need to finance your new home. That’s when quick personal loans can come in handy. That’s where WE come in handy. We are ready to match you with the right lender for your financial circumstances.

Want to hear more from the Quick Online Loans blog? You have your dream home covered, how about your dream job? Find out how to land your dream job on our blog!

Finance books everyone should read | Get the scoop on what’s worth the bucks, here!

finance books

Although, as humans, we are the most ‘developed’ and ‘intelligent’ species, sometimes we need a little guidance in navigating through life and getting things right. As much as we like to think we’ve got it all under control, this is just something we tell ourselves (and everyone else) to make it seem like we actually do. But no one knows everything and life is just one big learning curve. Therefore, we turn to things like books to help us figure things out. Text books, baby books, ‘how to’ books and finance books are just a few of the places we turn to get a better idea about what the heck we’re doing – or meant to be doing.

These days, you can find a book on pretty much anything. Things like what to expect when you’re expecting, baby names, Auto Repair for Dummies, The Internet for Dummies, even Wine for Dummies. Then, you’ve got the more serious things like ‘Women Who Think Too much’ and ‘You are Enough’. Then there are the mountains of finance books which, in our opinion, are the best ones to read!

Why turn to finance books?

One of the most difficult concepts to master for many is managing money. Once we get to a certain age, we’re suddenly in charge of managing everything without any real-life practice. It’s no wonder we make mistakes every now and then! Luckily, we have found some of the best finance books to turn to when things get a little stressful.

If you’re struggling to build your savings account, slowly being swallowed up by your debt, wanting to save up for a house or planning for your retirement, bury your nose in some of the top finance books! Online courses and blogs are also great to turn to but they won’t help you, finance books will. They’re great for when you need a little guidance with your money. If it’s a specific concept you’re struggling with or whether you just need some general guidance, there are books that cover all aspects of personal finance.

If replacing your fiction for finance is not something you’ve thought about before, then finding the right books for you can be a confusing – and perhaps daunting – struggle. Therefore, we’re going to talk about some of the best finance books that everyone should be reading.

The best finance books to read

The Barefoot Investor

This book is first on our list because, in our opinion, it is one of the best. The Barefoot Investor covers everything from the bank Australia you should join, to the type of bank account you should have, to how much you should be putting away in your superannuation. It covers everything and the author, Aussie investment advisor Scoot Pape, draws from his own personal experiences and mishaps to provide us with detailed, clear and legitimate advice.

The Barefoot Investor is incredibly easy to read as Pape’s tone of voice is light-hearted and conversational. You almost feel like he’s in the room explaining it all to you. The book aims to show you how to save up a 6-figure house deposit in just 20 months, double your income using certain strategies, save money on your mortgage and wipe out almost 7 years of payments, be able to provide for your children and retire into a very comfortable lifestyle. The Barefoot Investor is great for anyone with those types of goals and it relates very closely to young adults just entering the workforce. As Australia’s number 1 bestseller, this book is a money guide you definitely need to read.

The Millionaire Next Door

This is another one of the top finance books as it discusses all the basics of personal finance. It was first published in 1996 and refines the authors’ (Thomas Stanley and William Danko) findings from more than 20 years of research into America’s millionaires. The book is less specific in terms of taking action than The Barefoot Investor. However, it provides simple, common sense lessons on how to develop good money habits.

The Millionaire Next Door explains concepts like ‘spending less than you earn’, ‘avoiding buying status objects and ‘diversifying your investments’. And although this finance book looks at the American millionaire, the advice it offers is completely universal. It looks at 7 common qualities millionaires share and has since been updated to match the context of the 21st century.

Again, the tone of this book is really easy to read and the authors have provided their readers with an interesting story that offers untimely financial advice.

Money: A Love Story

This is another one of the best personal finance books. It teaches its readers about the importance of having a good relationship with their money. The books author, Kate Northrup, uses client stories as well as her own saga of moving from heavy debt to complete financial freedom by the age of 28. Northrup’s book offers advice on how to chart your financial life and create a plan that will help you reach your financial goals.

She talks about step-by-step exercises that address both the emotional and practical aspects of money and help you figure out your own personal perceptions of your money and how to change them for the better. This book is all about changing the way you think about and see your finances. Reading this book could bring to light some thought patterns that you have that might be holding you back from earning what you’re worth or saving what you’re capable of.

If you want to learn how to shift your beliefs about money, create a budget, spend in line with your values and get out of debt, definitively get yourself a copy of this book.

Rich Dad, Poor Dad

Rich Dad, Poor Dad is all about teaching people about growing their assets. It tells you to stop working for your money and start making your money working for you. A bestselling book, it advocates the importance of financial literacy, financial independence and building wealth by investing in assets. If you’re your someone who doesn’t have a clue about investing then this book will straighten out the scribble that investment seems to be.

Rich Dad, Poor Dad aims to show readers that you don’t need to earn a high income to become rich, show parents that they need to take charge when it comes to teaching their kids about money, define the concepts of assets and liability and create an individual strategy to become secure, comfortable and rich.

Robert Kiyosaki, the author of the book, challenges the way society thinks about money and assets. His perspectives tend to contradict conventional financial theories; however, he has earned himself and his book a reputation of straight talk. The book is “dedicated to all parents everywhere, a child’s most important teacher” and is a great starting point for anyone wanting to take control of their financial future as well as their children’s.

Think and Grow Rich

Funnily enough, this book was actually written in 1937 by a man named Napolean Hill. Despite the old-timeliness of this book, its teachings still strand strong within today’s modern context. Hill wrote the book in the midst of the depression after interviewing about 500 successful business men and finding that they all shared a relentless desire to achieve their goals. It’s thought that Think and Grow Rich launched both the self-help and get-rich book genres and if one were to wholeheartedly embrace the book, it would indeed help them grow rich.

This book has been read and followed religiously by the Oprah Winfrey and encourages persistence, faith, autosuggestion and imagination that will help you control your financial mind. The term ‘rich’ in this book doesn’t only focus on financial richness but also being rich spiritually and socially. The term, to Hill, is more about focusing on one’s goals and achieving success in being happy.

Despite the age of the book, it is easy to read and the language used is clear and easy to follow.

Making Money

If your finances are a little out of control then this is one of the best finance books you can read.  This book by Paul Clitheroe is all about helping you increase your wealthy, maximise the benefits of investments you already have, and become smarter with your money in general. It is a basic introductory book to saving money and is really easy to follow.

It explains the basic process to follow in order to get your finances in order and start saving money. If you’re just getting into to your finance books then this book is a great place to start. It will give you a clear idea of the first moves you need to make to map out your financial goals and figure out the best way to reach them.

This book is also great if you’re struggling with debt as it provides a guide on how to clear that debt sooner than you thought possible. Tips in this book also include how to get on top of your credit cards and how to make your own money go further. Making Money is one of the good finance books for beginners and definitely worth the read.

The best finance podcasts to listen to

Now that you have 6 awesome finance books to bury your nose in, why not increase your money knowledge by listening to few of the best financial podcasts out there. These are especially great if you’re not much of a reader and finance books aren’t overly suited to your interests. So, here are some of the best finance podcasts to listen to.

The Investors Podcast: We Study Billionaires

If you thought that financial podcasts couldn’t be fun and entertaining, you were wrong. This podcast is entertaining, educational and very insightful. It constantly breaks down complex investing and business scenarios into the most understandable way. The hosts, Preston Pysh and Stig Broderson, like to explore interesting ways to invest and live better and get more joy from your life.

Their audience tends to remain consistently informed, engaged and impressed throughout every episode. So, if you’re more of a listener, rather than a reader, and you like to get a bit of entertainment out of your finances, this is the podcast for you.

Listen Money Matters

Andrew Fiebert and Thomas Frank are the type of guys you’d want to go and hang with at a bar. They’re young, fun and hip and they host one of the best finance podcasts in Australia. They offer awesome advice from how to make your money for you, instead of you working for it, to how to avoid bank scams, to saving money the right way. Their delivery of this advice is really down-to-earth and easy to understand. Their discussions are clear and well-rounded and they have a knack for motivating their audience to get on top of their finances. Another fun and education podcast that you should definitely get listening to.

Money Girl’s Quick and Dirty Tips for a Richer Life

This podcast is great for tips on money management and financial investments. If you’re looking to learn more about the power of the money that you earn and how to save as well as invest your money, give this podcast a go. Again, the content is really clear and easy to understand and all the topics touched on are relevant and very helpful.

Money Girl also touches on topics like tax reform, simplifying your finances, committing to a healthy financial life and realistic ways to save money. Her advice is practical and timely and she acts your very own free financial advisor. Another one not to miss!

Have you got bad credit? Let us help.

Now that you have some of the best finance books to read and some really entertaining finance podcast to listen to, you should all be money geniuses in no time! If any of you have your own favourite finance books or podcasts that your and listen to, we’d love to hear about them! Get in touch either via our website or Facebook page!

How to change banks and open a new bank account

bank account

Last week we spoke about the benefits and disadvantages of both a traditional bank and an online bank. Perhaps article sparked some motivation for you to change your bank account? If so, you’re in luck! This week we’re going to show you how easy it can be to change banks. We’re going to talk about everything from opening a new bank account to transferring your funds and alerting the appropriate people.

Banks can sometimes resemble that of a tumultuous relationship. You’re unhappy, you complain to your friends and family, you constantly tell yourself you’re going to do something about it, but then you never do. In hindsight though, there’s no reason for you to stick with something if it isn’t making you happy.

Therefore, if you’re not impressed with the bank account that you currently have, don’t be reluctant to change to something new. The thought of doing this may give you a bit of a headache but, believe it or not, it’s actually very simple.

How easy is it to change my bank account?

It’s really quite simple! First, you need to do your research and find the bank that you would like to move to. One main thing to consider when changing your bank account is the fees that bank charges to hold your account. Things to compare include:

  1. How large a balance is needed to avoid fees – This is a big one as many banks will charge monthly fees if you’re not reaching a certain threshold of deposits each month. Many traditional banks set their limit at about $2,000, which is quite steep. If fees are something you’re trying to get away from then make sure you choose a bank that accepts a lower amount before they start charging you.

You should also be wary that some banks require a deposit or recurring payment through their site to avoid further monthly fees. In addition to these, you should also ask about any other fees before you change your bank account. Questions like how much will the bank charge if you go into overdraft? Is there a fee to close the account? How long will it take to transfer money to other bank accounts?  How much does it cost to make an international transfer?

  1. Are there fees for using other banks ATMs? – If you’re using an ATM that belongs to one of the big four banks, they have recently abolished withdrawal fees for non-customers. This is definitely a bonus as you know you can use these ATM’s without it costing you money.

However, you should also find out how much it will cost you to use independent ATM’s, as sometimes these fees can be substantial. If you travel a fair bit, it might also be a good idea to look for a bank that offers free ATM services around the country.

  1. What overdraft protection options does the bank account offer? – Overdraft is not an ideal situation to be in as it means that your account has gone into a negative number. However, things happen and it’s possible to accidentally overspend sometimes. Especially if you have direct debits coming out of your bank account.

If you do ever go into overdraft, it’s important that are aware of the options available to you. Some banks charge enormous fees if your balance goes into negative. Therefore, this is something you want to try and avoid. You should compare the overdraft penalty fee of different banks along with the maximum amount of times the fee is applied per day. Also look at the minimum amount required to trigger an overdraft fee and extended overdraft penalty fee charged for each day the bank account is in negative.

  1. How much interest is paid on savings accounts? – As we mentioned last week, interest rates offered on traditional bank savings accounts are generally quite low. In order to get the most value out of your savings, compare the how much each bank will pay you for your saving efforts.

These are the most important things to consider when looking for a new bank account. Some other aspects you might want to have a think about include:

  • How soon are deposit funds available?
  • Are mobile banking and online bill pay offered?
  • Are reward programs offered?

How do I change my bank account?

The process can be as simple or as difficult as you make it. Here is a checklist or the best order to do things that you can choose to follow if you wish.

Step 1 – Open your new bank account

Once you have decided on the bank you would like to switch to, the first thing you should do is open your bank account with them. This process is generally quite easy as banks love new customers so your initial experience should be rather pleasant. The bank will then organise to post you your new bank cards and chequebook (if necessary). These will usually take between 2-5 business days to arrive. Once they do, you can activate your account.

Step 2 – Transfer money between your current bank account and your new account

Most banks will require a minimum deposit in order to fully activate your account. This amount is normally quite small, it’s mostly just so the bank has time to establish the connection between the 2 accounts before your cards arrive. It may take a couple of days for the funds the transfer over but without your kinds, there’s not too much of a rush.

Step 3 – Set up online banking and bill pay

This is only really applicable if you’re moving to another traditional bank as online banks will automatically have online banking set up. For a traditional bank account, you can either call your bank or jump on to their website to set up online banking. This will be handy for paying bills, receiving statements, and applying for quick online loans. For online banks, it’s always a good idea to download the app. This will make everyday transactions a lot easier.

Step 4 – Move any automatic payments from your old account to your new account

If you have any payments that are automatically taken out of your account each month, make sure you change your account details to match your new bank account. These payments would include things like:

  • Netflix and other subscriptions channels,
  • Insurance (life, home, pet, car, etc.),
  • Loan repayments (house, car, personal loan, etc.),
  • Magazine subscriptions,
  • Credit card repayments,
  • Bills (phone/ mobile network, internet electricity, gas, etc.),
  • Uber,
  • iTunes/Apple ID,
  • Rent,
  • Foxtel,
  • Go Via/Toll fees,
  • PayPal,
  • eBay, and
  • School/university/online courses

Make sure you change everything over to avoid any defaults. Even if you’re not changing banks and just getting a new card, you will still need to notify all of these services.

Step 5 – Move direct deposits to your new bank account

This step includes notifying your employer or any other parties that may be depositing money into your bank account. To notify your employer, you generally just need to fill out new deposit forms and submit them to the payroll department. If you’re not too sure how to do this then we recommend asking your employer directly to avoid any miscommunication.

Apart from your usual employment, some other forms of direct deposits you might receive include:

  • Government benefits payments
  • Medicare rebates
  • Tax refunds
  • Alternative income sources (e.g. Airbnb, Uber, Air Tasker, etc.)
  • Friends and family
  • PayPal

Some banks will actually provide you with a form which will automatically generate a suite of letters for you to send to your employer and other regular billers.

Step 6 – Close your old account

Once you have completed all the steps above and checked them all twice, it’s now to close your old account. This can usually be done with a phone call to the bank. Some banks may require you to go to the branch but it’s not always necessary. Make sure you check with the bank, once your old bank account has been closed, that there are no outstanding fees and no remaining balance.

So, there you have it. 6 simple steps to changing banks. It’s not as involved as you thought it was, is it?

Before you go, here are a few more things you might consider before making the decision to change your bank account.

  • Is it worth it? – Although the process of changing your bank account is really quite simple, any mistakes can cost you money. Therefore, it’s important to make sure you are 100% certain that changing banks will benefit significantly before you make the change. It might be a good idea to look at ASIC’s compound interest calculator to make sure you’re going to be getting a better deal.
  • Evaluate the options – Once again, it’s really important to do your research. If you’ve decided to change banks because you’re unhappy with your current one and you’re not sure which bank to move to, compare all of them so you can pick the best one for you.
  • Ask for help – If you’re really not sure about what bank to move to, why not ask for help? Seeking the help of a financial advisor could give you a much better idea about what type of bank account is most suited for your situation. It could also give you a better handle on your spending and help you figure out what to do to get the most out of your bank.

If you have just recently changed banks and have already gone through this process, we’d love to hear from you! Perhaps you have a different checklist that you follow? Or maybe you didn’t have a checklist and your experience was slightly painful. Whatever it is, let us know!

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An Online Bank Australia V The Big Four: Who should you bank on?

bank Australia

Banks are like a universal language when it comes to our finances. Unless you’re under the age of about 16, chances are you are a member of a bank. You actually have to have a bank account if you ever want to get a job or buy things online or just live in general. The good thing is that it is completely up to you which bank Australia offers you want to hold an account with.

One of the most common reasons people give for being a member of a certain bank is that their parents were members so it was just easy. This is completely understandable as, a lot of the time, your parents are the ones who set your bank account up for you. Why wouldn’t they choose the same one?

Coming into adulthood though, you are now allowed to make your own decisions based on what suits you and your adult needs. Once you start making some real money of your own and making plans to use that money for specific endeavours, it might be a good idea to look at the benefits you get from your bank and if you can get better ones elsewhere.

As we’re now in a time where technology knows far fewer boundaries than it used to, online banks are starting to gain popularity within society. An online bank Australia offers very similar services as a traditional bank, however, there are a few differences that may determine which road a person goes down: online or traditional.

We’re going to talk about the pros and cons of online banks and how well they stand next to more traditional banks like the Big Four.

The Big Four Bank Australia

The term ‘The Big Four’ is a colloquial name used to describe the 4 major banks in every country that is dominated by just 4 institutions. Fun fact: there are 37 countries in the world in which the banking industry is dominated by just four major banks.

The big four banks in Australia include:

  • Australia and New Zealand Bank (ANZ)
  • National Australia Bank (NAB)
  • The Commonwealth Bank of Australia (CBA)
  • Westpac Banking Corporation

These banks are the largest in Australia by market share as, between them, they hold 80% of the home loans market in the country. More than $600 billion of the $750 billion that Australian households have in cash deposits sits with one of the big four banks. The popularity of these banks and the amount of trust Australians put in them to look after their money definitely shows that they are doing something right. However, it could also be a few million cases of ‘changing banks is too hard’ that’s keeping the big four where they are in the market.

Benefits of the big four and other traditional bank Australia

They have a wide range of options

Whether you’re looking to open a personal savings or checking account, a business checking account, a pensioner security account, or even a trust fund, it is very likely that traditional banks will offer all of these services. They’ll also offer these services all in the one place along with further wealth management and investment services as well.

They are convenient

The leading banks in Australia have brick and mortar locations and ATM’s all over the country. The ATM’s are free for customers to use and are available for use 24 hours a day, 7 days a week. They allow you to withdraw cash, deposit cash, check your account balance and transfer funds at any time of the day.

You can have both

All of the big traditional banks offer online banking services as well. This is something you have to set up manually after opening your account but it will let you set up extra accounts, pay bills, receive online statements and make international payments.

Cash deposits

Cash is the most traditional form of currency and is something that a traditional bank Australia still works with. Although the use of physical cash has diminished significantly in recent years, it’s still nice to know that we have the option to make cash deposits. You can walk into any bank Australia branch and make a cash deposit, or you can make one at any respective ATM. This is something that online banks are currently unable to offer.

Face-to-face service and help

This is a huge bonus for new customers or those opening a new type of account. Direct physical communication can sometimes be invaluable for customer service and problem resolution. Many people take comfort in the fact that they can just walk into a branch and ask for help instead of trying to solve the issue themselves or sitting on your mobile, waiting to talk to a customer service agent.

Disadvantages of a traditional bank Australia

Low to no interest rates

Traditional banks offer, if at all, quite low-interest rates on savings accounts, especially compared to an online bank Australia. The reason that traditional banks offer lower interest rates on savings compared to online banks is that they have much higher overhead costs.

Limited accessibility

The big four banks in Australia do have call lines open 24 hours for some issues. However, if you have a particular query or issue outside of the banks regular trading hours, you may have to wait until the next day before you can seek help. If you’re travelling or unable to make it into a branch during standard hours of operation, you won’t be able to conduct your business. If your working hours are the same as the banks then visiting a branch can also prove to be quite difficult.

Less efficient

Getting in the car, driving to a bank Australia branch and standing in line to be served can be inconvenient at the best of times. Just like most things, it is generally more efficient to do your banking online where you can make use of all the bank’s services without having to get up from your desk.

Larger account minimums

A traditional bank Australia will generally require you to maintain a much higher monthly balance in order to avoid being charged monthly fees. Many traditional banks require a minimum deposit of $2,000 per month to have the fees waived. Whereas online banks, if they have one at all, have an average minimum of about $350.

ATM fees

You won’t be charged a fee if you’re using an ATM from your bank. However, if you are withdrawing cash from smaller, independent ATM’s, you can be charged around $2.50 for every transaction you make. This means that if you’re in a place where there isn’t an ATM for your bank around, it could actually end up costing you money.

Advantages of an online bank Australia


Online banks are open for business anywhere you have an internet connection: it could be from the comfort of your own bed if you choose. If the internet services aren’t available, customer service is generally provided around the clock via telephone. You will never have to drive to a branch and stand in line to ask questions about your service.

Better interest rates

As we mentioned before, an online bank Australia has much lower overhead costs than a traditional bank. Therefore, they can offer higher interest rates on savings accounts and lower mortgage and loan rates. Some online bank accounts can also be opened with no minimum deposits and carry no minimum balance or service fees.

Studies have even shown that for every billion dollars Australian’s deposit into certain traditional banks instead of online banks, $7.5 million is lost. That means that for any amount you have in a traditional bank savings account, you’re missing out 7.5%. That’s money staying in the bank’s pocket instead of your own, which is where it belongs.


An online bank Australia will typically have more inclusive websites that offer a comprehensive set of features that may not be found on the websites of traditional banks. These features may include budgeting and forecasting tools, financial planning opportunities, investment tools and loan calculators. Many online banks will also offer free online bill paying, online tax forms and tax preparation.

Strong online interface

In addition to the range of services offered on an online bank Australia website, they will generally have a superior online website interface compared to the websites of traditional banks. This is due to the fact that all of your interactions with an online bank are done through its website. Therefore, online banks typically have very sophisticated websites with plenty of features and a very fast response time.

Ease of use

Online bank accounts are easy to set up and require no more information than a traditional bank does. A lot of the time, all they’ll ask for is proof of identity. As everything is done online, you don’t need to print out forms, fill them out and then scan them or take them to the branch. Unless you want to do that, of course. Another advantage of using online banking is that you can select to have your payee information retained. This means that you don’t need to re-enter information on subsequent checks to the same payee.

Opening an account is quick and easy

This is closely linked to the ease of use of online banks. This is because opening an account with an online bank Australia will be one of the easiest things you do with your day. If you feel like opening an extra savings account on a Sunday night after spending too much on the weekend, you can. That account could then be ready to go by Monday morning. You never have to wait for normal operating hours to start to make requests as online banks’ operating hours never stop.

Disadvantages of an online bank Australia

Bank relationship

Traditional banks come with the opportunity to form personal relationships with the team at the bank or particular branch. Having these relationships can be an advantage when you need a loan or a special service that may not normally be offered to the public. A bank manager will usually have some discretion when it comes to altering the terms of your account, especially if you are a valued customer. If you have a personal relationship with your bank it may also be easier to solve certain problems such as undeserved fees or a lost or stolen card.

Websites can go down

Even the internet has tough days. Therefore, it is possible for your online bank’s website to go down on the odd occasion. While it’s rare, it’s not completely unheard of for these websites to have technical failures. These failures could render the website inaccessible. This could force you to sit on hold to customer service as it’s likely that there would be an influx of calls if this were to happen. Website failure may also mean that you are unable to make important, time-sensitive transactions.

Which should you choose?

While there aren’t too many drawbacks of an online bank Australia, the two listed are quite substantial. All points listed here are things worth considering when making your decision about whether you want to bank traditionally online. It is not our place to offer advice, but instead, offer the quick online facts that can help you choose what’s best for you.

We will say that online banks are looking to be the wave of the future in terms of the way society’s internet usage is progressing. There are more and more people moving from a traditional bank Australia to an online bank and online banks are challenging the competition of the big four banks. However, these traditional banks still hold the majority of the market share and they are definitely using the advance in technology to expand and modify their services.

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So, in summary, it is completely up to you. If you have recently changed from a traditional bank to an online bank, or you are thinking about doing so, we’d love to hear about your experience and opinion. Head over to Quick Online Loans to apply for a loan or pop over to our facebook page to leave us a comment!