Perth Drivers Warned About 17cent Petrol Price Hike

ABC.net.au
Consumers are being warned that BP will be hiking pump prices by 17 cents from tomorrow, with other companies set to follow in coming days.

Most BP sites will increase their unleaded petrol (ULP) price by 17 cents per litre to 129.9 cents per litre from Wednesday.

There are 195 petrol stations selling below the metropolitan average of 115.0 cpl tomorrow.Wednesday’s cheapest ULP is available for:• 109.3 cpl at Gull High Wycombe in the East;
• 109.2 cpl at Caltex Woolworths Osborne Park in the North; and
• 109.2 cpl at Caltex Woolworths Warnbro Fair in the South.Consumer protection body Fuel Watch has advised drivers to check the price of petrol before they fill up.
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Tips To Supersize Your Superannuation

Barefootinvestor.com.au
Could you be putting a little extra into your super? Here are some tips from the barefoot investor. He has come up with things you can do right now to help your super.
For full article click here

Inflation Also To Blame For Food Price Hike

ABC.net.au
The head of the Australian Competition and Consumer Commission (ACCC) says drought and other agriculture reforms are contributing equally to food price inflation.

He says the food inflation rate should be squarely blamed at the lack of competition between Australia's two major supermarket retailers, Coles and Woolworths.

"I have no doubt that it is the duopoly at play. The reality is we in Australia have one of the most highest concentrated supermarket sectors in the world," he said.

But Graeme Samuel, the chairman of the ACCC, says there are other factors at play than simply a lack of competition between supermarkets.

"The drought and the sorts of issues that we've had to deal with in agriculture in this country, particularly over recent years," he said.

However, Professor Zumbo says whether it is fresh food or packaged goods, the price hike is across the board.

"Their dominance is clearly in the packaged sector but also they're getting growing dominance in the fresh food and vegetable sector," he said.

"They're extending their dominance in liquor, they're extending their dominance in petrol.

"If you look across all these sectors that Coles and Woolworths are involved in, over time prices are creeping up in all those sectors."

Top Ten Ways You Might Be Dropping Dollars

barefootinvestor.com.au
Scott Pape looks at 10 ways you might be losing money.
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Mr Home Budget Talks With Dennis Walters

3AW Melbourne
We talk on radio to Dennis Walters about our new home budgeting book.

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Depression Cooking With Claire

You Tube Video
The Great Depression would not have been a great time to live. However here is a lady who not only lived through it but cooked through it. She is now offering cheap recipes from the Depression to save money in 2009.

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Simple Financial Assistance Solution

The Herald, Barossa Valley
Adam Goulding has used his common sense and his life skills to pull himself out of major debt. Now the 28 - year old Craigmore man is keen to assist others.

When Adam was aged 24 he discovered, with his now wife Renee, he owed about $25,000 through loans and personal debts. With help from Renee he wrote down all his expenses for the month.

It was here Adam noticed his dilemma - his outgoing weekly expenses were exceeding his weekly income. "It was a huge shock," Adam said. "So we devised a plan we now call Keep It Simple Stupid," he added.

From then on Adam kept a constant eye on his finances and worked hard to change his prior spending habits. Within a year he had had managed to reduce his loan by $10,000. After this Adam put himself into a routine of budgeting his money and on January 1,2007 he decided to keep every single receipt. "This meant receipts for purchasing $1.50 gup or for a coffee," he said.

Adam also decided to take on a defence mode to his money, meaning spend less on daily iteam rather than the attack method, which was to make more money. Within two years and after keeping all their receipts and sticking to a budget, Adam and Renee had together managed to save themselves $84,975.71.

Adam is keen to point out he does not hold any university degree and during his days of major debt worked as a pharmaceutical salesperson.

However, since his desire to save money, he and Renee have set up their own business and three months ago released their self published book 'How to cut your debt to zero in 5 simple steps, the keep it simple stupid home budget'. To date, 200 copies have been sold and they have received hundreds of emails in support of the book.

The couple now only has a home loan debt and with their income always exceeding their weekly outgoings expenses, this is helping them to quickly reduce their home loan. Also, they do not own any credit cards.

In addition, Adam and Renee who are expecting their first child are keen to document the cost of raising a child to share with others. Those interested in learning more can contact Adam or Renee at www.MrHomeBudget.com.au.

What The October Rate Rise Means For You

Yahoo.com
As expected the Reserve Bank of Australia lifted interest rates by a quarter of a percent on 6 October to raise the official cash rate to 3.25 percent. Although in the short-term the news won't be so good for mortgage holders and people with other loans, it's a great sign the worst of the economic downturn is over. We can look to the future with much more financial confidence than this time last year when financial markets were still scarily imploding.

So what does the first rate rise in 19 months mean for you and me? Obviously if you have a home loan, you'll see a rise in the variable component of the loan. Budget to pay roughly $50 more in repayments on the average mortgage each month.
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Some Australians Vulnerable to Mounting Debt

Veda Advantage
There seems to be a debt burden on Australians which might just be the straw that breaks the camel’s back.

According to Veda Australia, “The Australian Debt Study Report by Galaxy Research found 16% of Australians are having difficulty repaying debts and 21% of those who are likely to apply for credit over the next six months say they are currently having difficulty paying debts.”

Veda Advantage's report indicates:

• More than one in ten (12%) of Australians have missed a required minimum payment in the past three months, with many missing two or more essential household payments. Of the people likely to apply for more credit, one in five (18%) have missed a bill payment in the last three months.
• Of those Australians with a mortgage, 13% were late paying a household bill in the past three months. One in three respondents is concerned interest or mortgage rates will impact on their ability to repay debts during the next twelve months.
• Mortgage holders aged between 25 - 49 years are three times more likely to miss a payment than those over 50 years. Mortgage holders were most likely to miss a telephone or Internet bill, followed by a mobile phone bill, credit card, utilities, and personal loan repayments.
• More than 20% of Australians currently struggling are likely to apply for more credit in the next 12 months.
• Although Australians experiencing financial difficulty aspire to pay off their credit cards, one in five is likely to apply for new credit in the next 12 months.
• Australian part-time workers are more likely than full-time workers to apply for new credit to consolidate existing debts.
• Australians currently finding it difficult to repay bills are more likely to have children and are more likely not to be working, or working on low incomes.
• Australians living in regional areas are worse off than their city counterparts.

Helping lenders prevent these families falling into a debt trap should be a high priority. But government legislation to allow lenders to see when a borrower is overcommitted is facing continued delays. "Australia needs to adopt a comprehensive reporting system.  There is a window of opportunity to introduce this change, however this requires swift action," Mr Evans said.

We at mrhomebudget.com believe Australians are facing increasing pressure from all sides. We must as householders track every dollar in the household budget, now more than ever.

A Review Of The $21 Challenge (Book Review Artical)

We spend about $300 a week on groceries and the figure seems to be growing along with the kids. So $21 looks like a steep challenge. Just one week’s success though, will have a $280 value. Do it once a month, and the annual savings would be $3,300. That’s no small amount, especially when the book retails for around $17. But the short term savings are only a small part of the picture of this clever book. The bigger benefit is the way The $21 Challenge will change your perspective and habits in a way that can be far more rewarding than three grand in the pocket each year. Because the real key to this book is the way it will show you how much you already have, whether that be food, clothing, toys, gadgets, and how to use, and how to use planning and stock takes to guide purchasing (rather than being guided by hunger, advertisements, desire). The end result could be life-changing.
For full article click here