Have you ever read the minutes from a Reserve Bank of Australia (RBA) monetary policy meeting?
If you have, and you haven’t studied economics, you may feel a little confused. If you haven’t, I have to be honest and say I know why. It’s hardly what the average Australian would see as a “fun” way to pass the time on your morning commute.
The information in these minutes is purposefully dense, dry and complex. Littered with initialisms, acronyms, bizarre concepts and jargon to boot, understanding exactly what the hell Governor Lowe is on about is difficult.
The #RBA #ratecuts may be a little confusing to those with little financial knowledge – so I’ve simplified it for you, Enjoy ✌️ #financialliteracy #financemadeeasy https://t.co/LdHyG3Rmlw
— Miss Wastell (@miss_wastell) July 26, 2019
As a naturally inquisitive person who is obsessed with learning new things, translating this jargon into something I can actually understand can take up to forty minutes.
However, as a Taurus I’m extremely stubborn, so if I don’t understand something you can bet your bottom dollar I’ll obsess over it until I do.
If you’re interested in learning about the state of the economy, without the complicated jargon, these recent stories I have written for Business Insider might give you some insight:
#1 MONETARY POLICY
Quantitative Easing: The RBA is considering “printing money” as a form of monetary policy if economic conditions do not improve.
Learn what that means: https://www.businessinsider.com.au/quantitative-easing-printing-money-is-an-economic-solution-2019-8
#2 BUYING OFF THE PLAN
Did you know if you buy off the plan you could owe tens of thousands of dollars more than you thought, before you even move in?
Learn how that works:
#3 FINANCIAL LITERACY
Staying financially savvy when the economy is in a very strange time can be difficult, but it doesn’t have to be.
Learn how to stay on top of your finances: https://www.businessinsider.com.au/how-to-be-financially-savvy-and-save-money-2019-8
#4 RENTAL YIELDS
Looking to get an investment property, but not sure whether to buy in the city or the country?
Rental yield is something that is very important when assessing where to buy, and the current yields may surprise you.
Learn were to find the best rental yields: https://www.businessinsider.com.au/the-city-vs-the-country-this-is-where-you-can-get-the-best-rental-yields-2019-10
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