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In a significant move, the Reserve Bank of Australia (RBA) has announced an increase in the nation’s cash rate by 25 basis points, bringing it to 4.35%. This first increase since June is set to impact many, particularly homeowners with variable rates or those with fixed loans nearing their end. Prospective buyers are also likely to feel the pinch.

However, it’s not all doom and gloom. As the festive season approaches, let’s explore five joyful and effective tips for saving money, emphasising the importance of family and rethinking traditional gift-giving.

  1. Embrace Homemade Gifts: The essence of gift-giving is thoughtfulness, not price tags. Consider homemade gifts this year. They are not only cost-effective but also add a personal touch that store-bought items cannot match. From baked goods to handmade crafts, these gifts can be a delightful way to show care and creativity.
  2. Plan a Family Potluck: Instead of hosting a lavish dinner, organise a family potluck. Encourage each family member to bring a dish. This approach not only divides the cost but also brings a variety of flavors to the table, making the occasion more special and diverse.
  3. DIY Decorations: Get creative with decorations by involving the whole family in DIY projects. Use recycled materials or natural elements like pine cones and branches for a unique and eco-friendly festive decor.
  4. Focus on Experiences: Shift the focus from material gifts to experiences. Plan family activities like game nights, outdoor adventures, or movie marathons. These create lasting memories and are often more valued than physical gifts.
  5. Set a Budget for Gifts: If you still plan to buy gifts, set a budget and stick to it. Look for deals and discounts, and consider group gifting for more expensive items. This way, you can manage your finances better without compromising on the joy of giving.

While the RBA’s rate increase might cause tighter financial conditions, it’s an opportunity to embrace the festive season in a more meaningful, family-oriented, and economically savvy way. Let’s rethink traditions and focus on what truly matters – spending quality time with loved ones and creating memories that last a lifetime.

Needing to explore your mortgage options in the light of the recent rate rise? Call us anytime, we’re here to help you do exactly that.



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