Introduction to Australian Superannuation

Written by Jonathan Bailey

Australians, in general, constitute some ofrepparttar worst savers inrepparttar 148319 world. Current estimates suggest that, on average, Australians save just 4% of their income. This is less than half ofrepparttar 148320 11% estimate for Australians inrepparttar 148321 late 1970s.

Inrepparttar 148322 past, pensions from taxpayers were used to provide pensions for senior citizens upon their retirement. However, because ofrepparttar 148323 increased life expectancy of Australians coupled withrepparttar 148324 decrease inrepparttar 148325 average number of children per household,repparttar 148326 use of pensions, if persisted with, will put a significant strain onrepparttar 148327 Federal Budget.

As a result,repparttar 148328 concept of superannuation was introduced whereby employers are obligated viarepparttar 148329 superannuation guarantee to contribute at least 9% of an employee's wage to a superannuation fund which must be preserved untilrepparttar 148330 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 investrepparttar 148331 money intorepparttar 148332 appropriate assets for increasing its value overrepparttar 148333 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 thanrepparttar 148334 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 History

Written by Carrie Reeder

Whether you are planning to purchase a home forrepparttar 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 intorepparttar 148318 loan or charge excessively high interest rates, so it is best to compare financing offers.

Check Online

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.

Compare Rates

Interest rates can vary a couple of percents between lending companies. Overrepparttar 148319 lifetime of your loan that can add up to thousands of dollars. When comparing rates, make sure that you gave outrepparttar 148320 same information. Differences in loan amount, down payment, and income level affect rates.

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