Interest rate rise to hit Age Pensioners hardest?
While i'm not an Age Pensioner myself, i'm having my yearly house inspection tomorrow ahead of my rental house contract renewal. It's obvious to me that due to the interest rate announcement that i'll be paying more every week in my next contract.
All i can think about is how Age Pensioners doing it tough will be affected. The current pension movements alongside increases in relation to the CPI will most likely not cover the real increases caused by interest rate rises.
Are you in this current situation? How are you going to manage?
Very simple Einstein, don't rent, buy a house/apartment. Jacka.