With an ongoing focus on interest rates, now could be the perfect time to make some clever and practical changes to your finances and learn how to prepare for any further fluctuations with our helpful tips.

Assess your budget

Now is an ideal time to look at your finances and take stock of your expenses.

Creating a written copy of your spending habits to keep track of and highlight any behaviours can be a great way to note any negative patterns. Assess your current weekly or monthly costs and note the areas you can limit spending.

For individual homeowners, a mortgage is often their single largest source of debt and has the greatest effect on their finances, and their ability to stay solvent through wage decreases or wage losses. For lenders, mortgages are typically the most significant asset on their retail banking book, which means that any changes in originations, repayment schedules, and default rates will have significant impacts on their profitability and liquidity.

With its prime location approximately 40km north of Melbourne’s CBD and boutique masterplanned community of just 480 lots, we all know Donnybrae will be a great place to live! But did you know that it is also a great place to invest?

Great news for Australians dreaming of buying their own home. The Federal Government’s new HomeBuilder scheme provides eligible owner-occupiers with a grant of $25,000 to build a new home or substantially renovate an existing home.  This will be a welcome relief to many Australians and the country’s economy as it tries to navigate its way out of the current health crisis.

Here is an overview of the HomeBuilder grant –