Introduction to Australian SuperannuationWritten by Jonathan Bailey
Australians, in general, constitute some of worst savers in world. Current estimates suggest that, on average, Australians save just 4% of their income. This is less than half of 11% estimate for Australians in late 1970s.
In past, pensions from taxpayers were used to provide pensions for senior citizens upon their retirement. However, because of increased life expectancy of Australians coupled with decrease in average number of children per household, use of pensions, if persisted with, will put a significant strain on Federal Budget.
As a result, concept of superannuation was introduced whereby employers are obligated via superannuation guarantee to contribute at least 9% of an employee's wage to a superannuation fund which must be preserved until employee has reached retirement before it can be accessed.
The advantage of making contributions to superannuation are that it introduces a form of forced savings for Australians into a fund which will hopefully invest money into appropriate assets for increasing its value over long term.
As an added incentive, contributions to superannuation are only taxed at an marginal rate of just 15%. For most income earners in Australia, this will be more attractive than usually high tax rate that they would be subjected to if their money was not put into superannuation.
Home Loans For People With Adverse Credit HistoryWritten by Carrie Reeder
Whether you are planning to purchase a home for first time or refinance an existing mortgage, plan on comparing lending companies before you accept a financing offer if you have adverse credit history. Sub prime lenders specialize in offering loans to people who have a high-risk credit history. In return for accepting this risk, they charge higher rates and fees.
But not all sub prime lending companies offer competitive rates. Lenders can stack fees into loan or charge excessively high interest rates, so it is best to compare financing offers.
Mortgage websites offer a convenient and competitive way to gather financing quotes. Through such websites, lending companies know they are in direct competition with others, so they offer their best quote. You can also complete your loan application online once you have chosen a competitive offer.
Interest rates can vary a couple of percents between lending companies. Over lifetime of your loan that can add up to thousands of dollars. When comparing rates, make sure that you gave out same information. Differences in loan amount, down payment, and income level affect rates.