In money news that will affect your hip pocket.
Women getting on top of home loan debt
It seems that women and Generation X are more likely to try and fast-track repayments on their home loans, a new survey has found.
According to financial product comparison website finder.com.au, a survey of 2,005 Australians found 89 per cent of borrowers have tried to pay down their mortgage sooner, with 60 per cent opting to make extra repayments.
Using a linked offset account to pay down the debt was one of the most popular strategies.
The study found that women are marginally more likely 90 per cent than men at 88 per cent to pay down their mortgage faster, while Baby Boomers are twice as likely as Generation X to have never tried paying off their mortgage faster.
Credit card default admissions
Nearly one in three Australians have defaulted on their credit card repayments, with men most likely to miss repayments compared to women.
Almost one in seven Australians have defaulted on a personal loan, while over 10.3 per cent of borrowers have been behind on their mortgage, says finder.com.au.
A further 17.5 per cent had missed one credit card repayment, while 14 per cent had missed more than one.
Bessie Hassan, spokesperson at finder.com.au, says repeat offenders risk damaging their credit score, which could affect their ability to get a loan in the future.
Qantas ramps up Christmas offers
Qantas is making the most of the likelihood of people spending and travelling more this Christmas.
In a first for the Qantas Frequent Flyer program, bonus points on many major cards have been beefed to members signing up for a new card.
Those holding platinum cards, such as a black credit card with Westpac and Qantas American Express Ultimate can earn 100,000 bonus Qantas Points, whereas ANZ Frequent Flyer’s black credit card and National Australia Bank’s Qantas Rewards Premium card can earn 75,000 bonus points.
These points alone can allow members to buy domestic flights and contribute towards more expensive international travel.
Girl shopping for brands or jobs?
Jobs website Diverse City Careers (DCC) has teamed up with another two start ups to help champion equality on the jobs and shopping front.
DCC announced that it’s partnering with start-up shopping for equality website, Femeconomy by offering certain approved brands for a 10 per cent discount on DCC’s services.
Meanwhile, DCC has also partnered with job sharing consultancy Jobs Shared to provide over 30,000 subscribers access to a growing resource along with access to Australia’s only jobs site that selects employers based on their commitment to supporting women.