Predictions on interest rates tomorrow? - Hey so what are everyones thoughts on interest rate decision tomorrow?

Today I realised where I went wrong with my mortgage - This is probably going to seem like a “duh” to most of you, but my journey of being a financially responsible adult hasn’t been a long one. Hopefully with this post, I can give other people in a similar ... See More position to my partner and I 3 years ago some insight that will prevent them from making some mistakes.

My partner and I purchased a property almost 3 years ago now. The incentive was given to me by my parents, who told me I “have to get into the market” as prices of home sky rocketed. Our broker gave us our borrowing power, and we were off, looking for a house 1.5 hours out from the city where we live. Where most of my family live. Our objective wasn’t very clear. We wanted to move in eventually, but we also wanted something that had financial prospect.

We eventually found a house that was affordable, and by affordable, I mean, we can buy it with all our savings, and make repayments with our income. RBA mentioned that the rates wouldn’t change till later years, so we went with a variable loan. You probably know by now where this is going.

Today, our repayments have gone up something like 60%, and we’ve been splitting hairs trying to find where to save money. My partner and I both had leave recently, and we couldn’t go anywhere, because it was simply too expensive.

So my realisation was basically that we didn’t consider the lifestyle that we wanted to have whilst we had this mortgage. We could have got a much smaller loan, at the expense of a more prospective house, and had the money to be able to do a lot more things that we wanted to do even with the rate changes.

We’re fortunate to have been able to increase our incomes during this time, but that hasn’t come without it’s sacrifices as well.

So my advice to those who are looking to buy a house who don’t have strict requirements is to consider the lifestyle sacrifices you will have to make in order to service your loan. Very obvious in hindsight yep, but we got too fixated on the far future. My heart goes out to those who do not have this luxury.

Economists want more unemployment. But do they care how the jobless will be treated?

Nobodies talking about yesterday’s 56% clearance rate - Not a single article, so much for balanced media 😂

Utterly Lost 22-Year-Old Struggling to get First Job - I know that r/careerguidance exists but honestly I get the impression this sub would be more helpful.

I am 22 turning 23 this month. I graduated with a BSCI majoring in Physics from Unimelb and then did a Graduate Certificate of Data ... See More Analytics at Deakin. I am 70 applications into my job search which started in January this year and I didn't land a single grad role for this year or next. I did well in uni but I feel it is all for nothing now. I'm really starting to lose hope. I just want to get a job to make some money to move out, and I tried for entry level data analyst positions but no luck.

Who should I reach out to for help? What other jobs should I try for? How would you try and make money?
EDIT
My work experience includes:
data entry at officeworks over the summer

swim instructor for kids for a few months

2 years of VCE tutoring

I also completed two research internships at the university

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More Australian homeowners offloading properties at loss as interest rate rises take toll, new data shows | Housing

What’s the feeling - Hey peeps,

What’s the feeling?

I came from proper poverty, my mum was a heroin addict, my dad, non-biological, but who I know as my dad, both very low income earners.

My partner and I just sold our home, our first home, we bought it for $380 ... See More near exactly 10 years ago for $925.

She came from a decently well off family, her parents lent us money, I don’t have a relationship with mine, plus her parents have helped us so much with ‘babysitting’, I hate that term, but we just sold our first family home, in Adelaide for $925k.

I’m so proud. I’m a tradie, I did 70% myself, with the help of mates, her old man, etc.

It’s a hard day, I’m so sentimental, but it’s time to move one after 10 years.

Why? School zoning, and house size.

My partner is an amazing teacher, in an amazing primary school, with an amazing high school , it’s a long term plan in an amazing area of our city.

Out of interest, Redditors on this sub over 35 who earn less than the Aussie median of $90K, what do you do for work? - And do you wish you’d had more opportunities or pushed harder in your career to hit six figures?

Sick of doom and gloom. When did you wake up and think “we’re actually doing ok” - Let’s have some feel good stories.

At what point in your career, financial position, life, did you have a moment of reflection and think “y’know what? we’re doing alright.”

Two more RBA rate hikes, tumbling inflation, and a high chance of recession: how our forecasting panel sees 2023-24 - Well, this feels optimistic.

How well off are Australians - It seems that every where I look there are couples in their 30s, two toddlers, with a late model Range Rover, million dollar plus McMansion, frequent overseas trips.

Am I just being overly sensitive to this observation or is a large chunk of Australia genuinely ... See More welathy and cashed up?

Anyone else not eating or drinking out just because - I'm 37, no mortgage, good job, not struggling at all, enjoy life atm, dont complain about much.
Love once or twice a fortnight going out for dinner, lunch, having a few beers at a pub when I can. But ever ... See More since all this inflation rubbish and I have noticed prices going up I've just thought stuff it, and not do it anymore. I take my lunch to work, cook our own takeaway, and if me and the guys want a drink after work we all chip in $10 to buy a slab and drink it together.
Not that I can't afford it or anything, it's just like the 'f$%# you factor'.
I find it hard to explain, weather because I think the price rises are b/s or something, I'm not sure. Anyone else the same?

For those have reached 100k already in their ING Savings Maximiser, what is your next move? - For those have reached 100k already in their ING Savings Maximiser, how do you plan on tackling the limit?

I naturally don't wish to continue saving money there and only receiving 0.5% interest. However, ... See More I also don't want to just pull the whole lot out and lose out on around $500 next month.

Personal super contributions, just stopped mine for now - I've been employed 30+ years and have paid 5% pre tax super into my superannuation account. I've accumulated with employer contributions about $550K. Today I've stopped my contributions as I'm really feeling the pinch, and I think I need the $ ... See More now rather than when I'm retired. Have I shot myself in the foot, or are there any other negatives I should be aware of ?

Bank error in your favour - Someone I know has found money in their bank account that is not theirs. Think low six figures. So a lot! The bank has been notified. How long do they take to correct? Any chance it's a random act of kindness? Money has been ... See More in account over a week, but only noticed yesterday.