Major Australian Banks Likely To Cut Thousands Of Jobs

Australia’s biggest lenders are likely to cut thousands of jobs nationally as they seek to consolidate record earnings from last year.

Amidst a backdrop of soaring funding costs and slower growth in mortgage lending, ANZ, Westpac and CBA have devised plans to reduce expenses according to the Daily Telegraph.

CBA’s plan, with an intriguing code name “Project 35”, seeks to achieve a cost to income ratio at its retail banking division of 35 per cent by next year. According to banking analysts reducing the ratio to that level from its current rate of 38.7, will mean a loss of at least 600 jobs.

In August last year, CBA announced a record $6.4 billion in profits for the year. Rival NAB delivered a record $5.5 billion, whilst Westpac also produced a record $7 billion. ANZ als


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An Easy Way to Stack Discounts and Make More Money

Have you ever run into one of these disclaimers?

This offer can not be used with any other offer, sale or discount.

Frustrating, isn’t it? Especially when you have a coupon for 15% off and the store is running a special on an item you need to buy. Trot up to the cash register and the clerk says, “I’m sorry, you can’t use that coupon AND get the discount.” In some rare cases the manager my be able to over-ride that policy but rarely … and you then get labeled a “problem” customer.

By using the right credit or debit card at Ebates.com. With this site, members (membership is FREE) get cash back at any of their 1,200 participating stores any time they BEGIN their shopping at Ebates.com. Simply search for the store you wish to buy from and follow the link to it. Your shopping activity is automatically registered and you can get up to 26% CASH BACK without the hassle of redeeming points, mailing in some form, or paying a membership fee. Stores pay Ebates a sales commission for sending shoppers their way, and Ebates uses the commission to pay you cash back. All that’s needed


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6 Tips for Saving Money during Your Pregnancy

Congratulations, you’re pregnant! Now fork over a bunch of cash for doctor’s visits, vitamins, organic food, maternity clothes and things baby will need immediately like diapers and a crib. Yay?

We’ve all heard that kids are expensive, but no one really mentioned all of the expenses that come before the baby’s even here. But don’t panic – stress isn’t good for the baby anyway – because we’ve got several ways you can save money.

1. Go In-Network.

This is your baby and your body, so obviously you want medical help that you feel comfortable with, but insurance companies often offer huge advantages for choosing someone in-network. For example, advantages may include paying only a $250 deductible for your hospital delivery expenses versus covering 50 percent of everything. Even if you have to try several in-network providers before you find one you like, it might be well worth your while.

2. Frequent farmer’s markets.

Organic at the supermarket sometimes costs double – or more! But if you’re lucky e


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Lending Club Returns At 11.23% Despite My First Charged Off Loan

Lending Club had another great year in 2011, reaching a variety of milestones.  They reached 400 million in loan originations in November (pushing 500 million now) only a couple of months after reaching 300 million. They were also recognized as a World Economic Forum 2012 Technology Pioneer, a Forbes Top 20 Most Promising Company, 2011 Webby Award Winner, Top 300 Startups at 2011 fundedIDEAS and continued to receive great mentions in the  mainstream media.  Theyre becoming more and more mainstream.  The word is out!

While Lending Club had a good year, the returns I saw last year were good as well, better than I saw in my retirement or savings accounts.  I think Lending Club and social lending in general are a great way to diversify your savings and investments especially in turbulent times like were going through right now.  You can also open an IRA with Lending Club as well if you want to make this part of your retirement plan.

Interested in my original Lending Club Review? check


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Choice Scaring Away Property Owners From Buying Home Insurance

Choice, the consumer group is advising consumers who live in places that are prone to flooding from taking out insurance in an irresponsible manner, whilst at the same time heavily criticizing the industry according to the insurance council.

Recently the advisory group held its annual Shonky Awards, where the group awarded lemon trophies for dubious dodgy and deceitful goods and services.

Choice singled out the insurance industry, following this summer’s flooding in Victoria, Queensland and New South Wales.

According to Choice, this year’s flooding left people who lived in the three states without any cover as insurers sought to avoid their liabilities.

Rob Whelan the executive director and chief executive of the Insurance Council of Australia says the group may scare property owners who are at risk from buying flood insurance.

“We don’t want a situation to arise in which property owners do not have appropriate cover for their property because they were put off by irresponsible and inaccurate statements by Choice,” Mr Whelan said.

According to Mr. Whelan, 1


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