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Beyond the spin, beyond the handouts, here’s how to get a handle on what’s really happening on budget night

<div class="theconversation-article-body"><a href="https://theconversation.com/profiles/peter-martin-682709">Peter Martin</a>, <a href="https://theconversation.com/institutions/crawford-school-of-public-policy-australian-national-university-3292">Crawford School of Public Policy, Australian National University</a> Three weeks from now, some of us will be presented with a <a href="https://budget.gov.au/">mountain</a> of budget papers, and just about all of us will get to hear about them on radio, TV or news websites on budget night. The quickest way to find out what the budget is really doing will be to listen to the treasurer’s speech, or to peruse online the aptly-named “<a href="https://treasury.infoservices.com.au/page/budget2023">glossy</a>” – a document that last year was titled “<a href="https://archive.budget.gov.au/2023-24/overview/download/budget_overview.pdf">Stronger foundations for a better future</a>”. <figure class="align-right zoomable"><a href="https://images.theconversation.com/files/589444/original/file-20240422-23-vkinrm.png?ixlib=rb-4.1.0&q=45&auto=format&w=1000&fit=clip"><img src="https://images.theconversation.com/files/589444/original/file-20240422-23-vkinrm.png?ixlib=rb-4.1.0&q=45&auto=format&w=237&fit=clip" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px" srcset="https://images.theconversation.com/files/589444/original/file-20240422-23-vkinrm.png?ixlib=rb-4.1.0&q=45&auto=format&w=600&h=848&fit=crop&dpr=1 600w, https://images.theconversation.com/files/589444/original/file-20240422-23-vkinrm.png?ixlib=rb-4.1.0&q=30&auto=format&w=600&h=848&fit=crop&dpr=2 1200w, https://images.theconversation.com/files/589444/original/file-20240422-23-vkinrm.png?ixlib=rb-4.1.0&q=15&auto=format&w=600&h=848&fit=crop&dpr=3 1800w, https://images.theconversation.com/files/589444/original/file-20240422-23-vkinrm.png?ixlib=rb-4.1.0&q=45&auto=format&w=754&h=1066&fit=crop&dpr=1 754w, https://images.theconversation.com/files/589444/original/file-20240422-23-vkinrm.png?ixlib=rb-4.1.0&q=30&auto=format&w=754&h=1066&fit=crop&dpr=2 1508w, https://images.theconversation.com/files/589444/original/file-20240422-23-vkinrm.png?ixlib=rb-4.1.0&q=15&auto=format&w=754&h=1066&fit=crop&dpr=3 2262w" alt="Cover of 2023 budget glossy" /></a><figcaption>Glossies are used to make each budget attractive. <a class="source" href="https://archive.budget.gov.au/2023-24/overview/download/budget_overview.pdf">Commonwealth Treasury</a></figcaption></figure> But they will tell you exactly what the government wants you to hear, exactly as it wants you to hear it. If you are looking instead for the truth – what the government is actually trying to achieve and what it is holding itself and its officials to, I would suggest something else, tucked away on about page <a href="https://cdn.theconversation.com/static_files/files/3225/8787.pdf">87</a> of the main budget document. It is required by the <a href="https://www.legislation.gov.au/C2004A05333/latest/text">Charter of Budget Honesty Act</a> introduced in 1998 by Peter Costello, the treasurer under Prime Minister John Howard. On taking office in 1996, Costello set up a <a href="https://webarchive.nla.gov.au/awa/20101119021633/http://www.finance.gov.au/archive/archive-of-publications/ncoa/execsum.htm">National Commission of Audit</a> to examine the finances he had inherited from the Hawke and Keating governments, presumably with an eye to discovering they had been mismanaged. But the members of the commission weren’t much interested in that. Instead, they decided to deal with something more fundamental. <h2>Budget as you wish, but explain your strategy</h2> Governments were perfectly entitled to manage money in whatever way they wanted, and they were perfectly entitled to spend more money than they raised (which they usually do, it’s called a <a href="https://www.investopedia.com/terms/d/deficit.asp">budget deficit</a>). What the commission wanted was for governments to make clear what they were doing, and to spell out the strategy behind it. Only part of it was about being upfront with the public. The commission also wanted governments to be upfront with themselves – to actually develop frameworks for what they were doing, rather than doing whatever they felt like. The commission recommended a <a href="https://webarchive.nla.gov.au/awa/20101119021633/http://www.finance.gov.au/archive/archive-of-publications/ncoa/execsum.htm">Charter of Budget Honesty</a>, which among other things requires officials to prepare independent assessments of the finances before each election, requires budget updates six months after each budget, and requires <a href="https://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/pubs/BriefingBook45p/TaxExpenditures">tax expenditures</a> (tax breaks) to be accounted for like other expenditures. And it requires the publication and regular updating of a <a href="https://cdn.theconversation.com/static_files/files/3227/CBH_Fiscal_strategy.pdf">fiscal strategy statement</a>. <h2>Where treasurers hold themselves accountable</h2> The <a href="https://cdn.theconversation.com/static_files/files/3225/8787.pdf">fiscal strategy</a> can be thought of as an exam question set by the student who is being examined – something along the lines of “this is what you say you want your budget to achieve, please set out the means by which you plan to achieve it”. It turns out to have been exceptionally effective in getting governments to organise their thoughts, make budgets at least try to achieve something, and let the rest of us know what they are trying to achieve. Every few years, treasurers change the strategy, as is their right. Treasurer Jim Chalmers says he’ll change it again this budget, to de-emphasise the fight against inflation and to more greatly emphasise the need to <a href="https://ministers.treasury.gov.au/ministers/jim-chalmers-2022/transcripts/press-conference-washington-dc-0">support economic growth</a>. His statement will tell us what’s behind his actions in a way the glossy words in his brochure and speech might not. <h2>The strategy that has signposted 26 years</h2> Previous statements have signposted all the important turns in what the budget is trying to do. The first, in <a href="https://images.theconversation.com/files/589686/original/file-20240423-16-rncqg3.PNG">1998</a>, committed Costello and Howard to achieving a budget surplus on average over the economic cycle and whenever “growth prospects remain sound”. Making that commitment more difficult was another “not to introduce new taxes or raise existing taxes over the term of this parliament”. Two years later, after the government had won an election promising a new goods and services tax, that commitment was <a href="https://images.theconversation.com/files/589692/original/file-20240423-18-q843xn.PNG">changed</a> to “no increase in the overall tax burden from its 1996-97 level”, a condition met by calling the GST a state tax. <h2>Hockey and Morrison wound back spending</h2> The Labor budgets from 2008 <a href="https://images.theconversation.com/files/589702/original/file-20240423-18-mikx6f.PNG">loosened</a> the tax target to the average share of GDP below the reference year, which they changed to the higher-tax year of 2007-08. The first Coalition budget under Treasurer Joe Hockey in 2014 changed the target from tax to spending, pledging to bring down the ratio of <a href="https://images.theconversation.com/files/589705/original/file-20240423-16-9spkdy.PNG">payments to GDP</a>, and pledging a surplus of 1% of GDP by 2023-24. Any new spending would be more than offset by cuts elsewhere, and if the budget did receive a burst of unexpected revenue it would be “banked” rather than spent. In 2018 Treasurer Scott Morrison reintroduced tax as a target, that he spelled out precisely. Tax was not to increase beyond <a href="https://images.theconversation.com/files/589706/original/file-20240423-16-b7gj5d.PNG">23.9%</a> of GDP. <h2>During COVID, Frydenberg spent big</h2> In 2020, in the face of a COVID-induced recession and soaring unemployment, Finance Minister Mathias Cormann and Treasurer Josh Frydenberg pushed the old strategy to one side. They would spend big now to keep the economy afloat so they wouldn’t have to spend more bailing it out later, and they wouldn’t return to their old concern about the deficit until the unemployment rate was “<a href="https://cdn.theconversation.com/static_files/files/3228/fs2020.pdf">comfortably below 6%</a>”. So well did they succeed that in 2021 Frydenberg made the momentous decision to keep going, abandoning the promise to return to worrying about the deficit when unemployment fell below 6%. Instead he promised to keep spending big until unemployment was “<a href="https://images.theconversation.com/files/589709/original/file-20240423-16-9pmpaf.PNG">back to pre-crisis levels or lower</a>”. The decision propelled unemployment down to a 50-year low of <a href="https://www.datawrapper.de/_/wPfXO/">3.5%</a>. Along with high iron ore prices, that one change of strategy has probably helped deliver Chalmers two consecutive budget surpluses – the one he announced last year for 2022-23, and the one he is set to announce this year for 2023-24. More of us have been in jobs <a href="https://www.finance.gov.au/publications/commonwealth-monthly-financial-statements/2024/mfs-january">paying tax</a>, and fewer have been out of jobs <a href="https://theconversation.com/half-a-million-more-australians-on-welfare-not-unless-you-double-count-227342">on benefits</a>. It’s a powerful demonstration of the real-world difference budget decisions can make, and the way in which the <a href="https://cdn.theconversation.com/static_files/files/3225/8787.pdf">fiscal strategy</a> tells the story.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/228387/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/peter-martin-682709">Peter Martin</a>, Visiting Fellow, <a href="https://theconversation.com/institutions/crawford-school-of-public-policy-australian-national-university-3292">Crawford School of Public Policy, Australian National University</a> Image credits: Getty Images This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/beyond-the-spin-beyond-the-handouts-heres-how-to-get-a-handle-on-whats-really-happening-on-budget-night-228387">original article</a>. </div>

Money & Banking

What to expect from the federal budget

There's just three weeks left until Treasurer Jim Chalmers unveils the federal budget. With the cost of living crisis still a major issue across the country, we can expect to see some policies aimed at alleviating the pressure. Some policies, have already been announced and here are a few others that we can expect to hear from Chalmers on May 14. Stage 3 cuts announced in January, will form a key part of this year's budget, which will direct more benefit towards low- and middle-income earners – although Australians on high salaries will still receive a tax cut. The decision was made to alleviate the cost-of-living pressures and partly address the bracket creep. The cuts lower the threshold for the lowest two brackets (so they pay less tax on that income), and raise the threshold for the highest two brackets (so they need to earn more to be taxed at a higher rate). This means that someone with average income of around $73,000 will get $1504, but how much you actually receive will depend on your income. The new version of the stage 3 cuts will come into effect on July 1. Superannuation will be paid on government-funded parental leave, with the change due to kick in for parents with babies born after July 1, 2025. They will receive a 12 per cent superannuation on top of their government-funded parental leave, with around 180,000 families expected to benefit from it. The figures will be included in the May 14 budget. Although nothing has been officially announced, there will likely be HECS-HELP debt relief for current and former students. "I think there's a range of areas where we need to do much better with the younger generation, and HECS is one of them," Prime Minister Anthony Albanese said on radio on April 18. "We've received a review of that... and what that has said is that the system can be made simpler and be made fairer. "We're examining the recommendations and we'll be making announcements pretty soon on that. We, of course, have a budget coming up." There have also been some hints from the government that energy bill relief will continue in this year's budget. "Our government understands that for small business – as for Australian families – energy bills remain a source of financial pressure," Albanese said, citing the existing policy that gives eligible families up to $500 off their power bills and eligible small businesses up to $650. "Our government understands that for small business – as for Australian families – energy bills remain a source of financial pressure," he said. "That's why the energy bill relief package I negotiated with the states and territories delivered up to $650 in savings for around 1 million small businesses, along with 5 million families. "And as we put together next month's budget, small businesses and families will again be front and centre in our thinking." Energy bills are also set to go down, or remain stable for the most part from July 1. Image: Getty

Money & Banking

Your passport to salon-quality haircare on a budget

There’s nothing quite like the feeling of walking out of the hairdressers to proudly show off your new cut or colour, and your hair is the softest it's ever felt. While this post-salon feeling is second to none, it's hard to recreate at home to avoid spending big bucks at your hairdressers more than you need to. And then begins the seemingly endless journey to find a shampoo and conditioner that works for your unique hair type without breaking the bank. Trawling down the aisles of supermarkets and chemists in search of these elusive products can often raise more questions than answers. What ingredients should you be steering clear of? What brands are better than others? What problem area should you be targeting? Does more expensive actually mean better? And so on and so forth, forever. Until, an unsung hero swoops in to save the day. After absolutely perfecting affordable makeup, Revlon have made their foray into haircare, with Revlon Professional having the answer for everyone’s individual hair care needs while keeping the prices low. Revlon Professional have a shampoo, conditioner and hair mask to cover everyone, with their systems covering everything from hydration and volume to colour protection, restoration, curly hair maintenance and more. I tried out the Revlon Professional RE/START Hydration system over two weeks while on holiday to really put it to the test. <blockquote class="instagram-media" style="background: #FFF; border: 0; border-radius: 3px; box-shadow: 0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width: 540px; min-width: 326px; padding: 0; width: calc(100% - 2px);" data-instgrm-permalink="https://www.instagram.com/p/C1X1n6AI9FP/?utm_source=ig_embed&utm_campaign=loading" data-instgrm-version="14"> <div style="padding: 16px;"> <div style="display: flex; flex-direction: row; align-items: center;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 40px; margin-right: 14px; width: 40px;"> </div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 100px;"> </div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 60px;"> </div> </div> </div> <div style="padding: 19% 0;"> </div> <div style="display: block; height: 50px; margin: 0 auto 12px; width: 50px;"> </div> <div style="padding-top: 8px;"> <div style="color: #3897f0; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: 550; line-height: 18px;">View this post on Instagram</div> </div> <div style="padding: 12.5% 0;"> </div> <div style="display: flex; flex-direction: row; margin-bottom: 14px; align-items: center;"> <div> <div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(0px) translateY(7px);"> </div> <div style="background-color: #f4f4f4; height: 12.5px; transform: rotate(-45deg) translateX(3px) translateY(1px); width: 12.5px; flex-grow: 0; margin-right: 14px; margin-left: 2px;"> </div> <div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(9px) translateY(-18px);"> </div> </div> <div style="margin-left: 8px;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 20px; width: 20px;"> </div> <div style="width: 0; height: 0; border-top: 2px solid transparent; border-left: 6px solid #f4f4f4; border-bottom: 2px solid transparent; transform: translateX(16px) translateY(-4px) rotate(30deg);"> </div> </div> <div style="margin-left: auto;"> <div style="width: 0px; border-top: 8px solid #F4F4F4; border-right: 8px solid transparent; transform: translateY(16px);"> </div> <div style="background-color: #f4f4f4; flex-grow: 0; height: 12px; width: 16px; transform: translateY(-4px);"> </div> <div style="width: 0; height: 0; border-top: 8px solid #F4F4F4; border-left: 8px solid transparent; transform: translateY(-4px) translateX(8px);"> </div> </div> </div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center; margin-bottom: 24px;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 224px;"> </div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 144px;"> </div> </div> <p style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; line-height: 17px; margin-bottom: 0; margin-top: 8px; overflow: hidden; padding: 8px 0 7px; text-align: center; text-overflow: ellipsis; white-space: nowrap;"><a style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: normal; line-height: 17px; text-decoration: none;" href="https://www.instagram.com/p/C1X1n6AI9FP/?utm_source=ig_embed&utm_campaign=loading" target="_blank" rel="noopener">A post shared by Revlon Professional Australia (@revlonprofessionalaustralia)</a> </div> </blockquote> While I was testing out the three-step system, I was exposing my hair to chlorine pools, salty ocean water and relentless humidity. On top of this, my poor hair has suffered years of abuse (at my own hands), and has been bleached several times, draining my hair of any natural moisture. I have tried dozens of ultra hydration products to make my hair look marginally better than a hay bale, and have yet to find my holy grail solution. I was expecting the Revlon Professional range to do what every other product does: give me maybe 12 hours of softness before my hair goes back to looking like a tumbleweed. Obviously my years of trying every product on the market has made me jaded, because the RE/START Hydration system was so much more than I ever expected. Over two weeks of trying out the products, I used the shampoo, conditioner and mask about four times. After the first time of using them, I was completely shocked at how hydrated my hair stayed until it was next time for a wash. Unlike other products on the market, the RE/START Hydration system keeps your hair hydrated for days, all while looking clean, healthy, shiny and untangled, without weighing your hair down. At last, I have finally found my holy grail products and I will sing their praises from the rooftops. Whatever your hair concerns may be, Revlon Professional has the answer for you, all while keeping your wallet in mind. But don’t just take my word for it. The Revlon Professional ranges are available at <a href="https://www.adorebeauty.com.au/b/revlon-professional.html?p=2">Adore Beauty</a>, <a href="https://www.ozhairandbeauty.com/brands/revlon-professional">Oz Hair & Beauty</a> and Revlon’s <a href="https://www.revlonprofessional.com/">official website</a> for you to find your own holy grail products, and have salon fresh hair all year round. Image credits: Getty Images

Beauty & Style

Airline selling international flights for under $400

Looking to jet off to Europe without breaking the bank? Well, now might be your chance! Budget airline Scoot has just unveiled an irresistible March sale, offering one-way flights to various European and other international destinations for less than $400. With more than 60 destinations on offer, travellers from Sydney, Melbourne and Perth are in for a treat. Scoot, known for its affordable fares and quality service, is the low-fare subsidiary of Singapore Airlines. The airline kicked off its one-week sale on Tuesday March 19, much to the delight of eager globetrotters. From Greece to Japan, and from Singapore to Indonesia, there's a plethora of destinations waiting to be explored. Among the highlights of this enticing offer are flights to Singapore starting from a mere $198, Athens from $355, Osaka from $315, and Denpasar from just $189. With such competitive pricing, it's no wonder travellers are scrambling to secure their seats. However, with great deals often come limited availability. While Scoot has not disclosed the exact number of seats up for grabs, travel experts advise acting fast. Graham Turner, from Flight Centre, <a href="https://7news.com.au/news/scoot-launches-march-sale-with-flights-to-europe-from-395-c-14009924" target="_blank" rel="noopener">cautioned 7News</a> that while the deals are fantastic, they're likely to be snapped up quickly. "There won't be a lot," he warned, while stressing the importance of doing thorough research before making a booking. It's essential for travellers to note that the fares advertised are all one-way and do not include additional charges such as taxes, checked baggage, WiFi, in-flight entertainment, food or flight changes. Despite these add-ons, the base fares remain incredibly competitive, making Scoot's March sale an attractive option for those seeking budget-friendly travel options. If you've been dreaming of am international getaway, now is the time to turn those dreams into reality. But don't delay – Scoot's March sale is set to run only until Monday night March 25, giving travellers just a limited window of opportunity to snag these incredible deals. So, whether you're yearning to wander through the historic streets of Athens, indulge in sushi delights in Osaka, or relax on the pristine beaches of Denpasar, Scoot's March sale has something for every traveller's taste and budget. Don't miss out on this chance to explore Europe without breaking the bank! Image: Scoot

Travel Tips

Five tips for developing and managing your budget – even in tough economic times

<a href="https://theconversation.com/profiles/oluwabunmi-adejumo-1370664">Oluwabunmi Adejumo</a>, <a href="https://theconversation.com/institutions/obafemi-awolowo-university-2843">Obafemi Awolowo University</a> There’s nothing quite like a new year to prompt us to take stock of our lives, our health, our goals – and our finances. Many people will start a new year by contemplating how best to budget, plan and save. This is always a good set of aims, but it’s especially important in the inflation-prone and unpredictable economies we’re seeing <a href="https://www.statista.com/statistics/268225/countries-with-the-highest-inflation-rate/">all over Africa and the world</a>. Budgeting is especially key. It is the most effective method to <a href="https://www.thebalancemoney.com/how-to-make-a-budget-1289587">monitor income and expenditure</a>. <a href="https://www.uslendingcompany.com/blog/key-differences-in-writing-a-household-budget-vs-a-personal-budget/">Personal budgets</a> can help you to monitor your resources in pursuit of larger financial goals. Budgeting also offers <a href="https://www.acrwebsite.org/volumes/v46/acr_vol46_2411998.pdf">more opportunities</a> to save money, reduce your debts and live a comfortable life. It can even <a href="https://prucomm.ac.uk/assets/uploads/blog/2013/04/Personal-Budgets-review-of-evidence_FINAL-REPORT.pdf">improve your mental health</a>. But where should you start? What questions do you need to answer in creating a budget? Here are some tips that I’ve learned – not just as an economist, but as a research cost analyst and someone who keeps a budget too. <h2>1. Understand the broader economic conditions</h2> It is imperative that individuals keep themselves aware and up-to-date on the realities of their country’s economic landscape. You don’t have to be a professional economist, but keep an eye on new developments like free business registration, small business development funds and printing of new money notes. What is the current exchange rate? What’s the political landscape and what international factors, like the price of crude oil, are at play? You should also watch the inflation rate and have a sense of unemployment trends. This economic awareness will prepare you to draft your own budget and you’ll have a sense of when external factors mean it’s time to revisit your plans. <h2>2. Review your income sources</h2> The ability to earn income is critical to sustaining livelihoods. Having a definite source of income is the bedrock of budgeting. Some important questions you should ask about your income – and how you might budget with it – include: <ul> <li>What is my current income?</li> <li>What do I use my income for?</li> <li>Am I able to save, given my current income?</li> <li>What proportion of my income do I save and what proportion do I spend?</li> <li>Do I have the capacity to earn more than this?</li> <li>How can I improve my income?</li> </ul> Your answers can help you to identify gaps or untapped potential. Those with irregular or unpredictable income should factor in the element of time-gap in their income, for effective budgeting. Time gap is when they are not earning income. And everyone should make allowance in their budgets for uncertainties like health issues, social engagements, inflation, unemployment, recession and price shocks. <h2>3. Appraise your expenses</h2> Expenses can be broadly categorised into “variable” and “fixed”. Fixed expenses recur within a short period: housing, food, transport, medical costs, electricity, utilities, toiletries and clothing. Variable expenses are more long-term and irregular, such as investment in property or interest-yielding assets, and the purchase of machinery. The main essence of revising our expenses is to analyse and possibly improve our spending habits. In reviewing our expenses, we can consider issues such as: <ul> <li>What is the proportion of consumption-savings ratio from my income? This is how much do I spend compared to how much I save.</li> <li>What are my regular expenses?</li> <li>What are my fixed, capital or investment expenses?</li> <li>What are my extraordinary expenses that need modification?</li> <li>Have there been emergency or extraordinary expenses?</li> </ul> A careful response to the issues raised above offers an occasion to re-evaluate the pattern and direction of our expenses. For instance, overspending, unplanned or extraordinary expenses can be identified. This can lead to an optimal, efficient reallocation of available resources. <h2>4. Stabilise your finances through savings</h2> Savings have been <a href="https://klinglercpa.com/bedrock-principles-for-saving-money/">described</a> as a financial stabiliser, given their potential to cater for urgent needs and create opportunities for investments. Of course, savings have more value when they grow faster than the rate of inflation. Inflation erodes the value of savings. For instance, an amount of 300,000 naira (US$676) saved to purchase an autorickshaw today may be impossible in two months’ time with an inflation rate of 10% when the tricycle price rises to 330,000 naira (US$744). The reverse is the case when there is deflation. Therefore, it is advisable to improve the value of savings through investments in interest-yielding assets such as stocks, shares, bonds, microfinance and production. That’s not to say it’s always easy to save. Many income earners spend as they go, not seeing savings as part of their budgets. Harsh economic realities can also make it difficult – sometimes seemingly impossible – to save. But it’s not impossible: savings can be made in small amounts, through a daily, weekly or monthly contribution to collections, cooperative schemes or microfinance affiliations. For instance, a point of sale business in Nigeria can permit a daily contribution of 500 naira (US$1.13) over 25 work days, giving an average saving of 12,500 naira (US$28.18) per month. The Point-of-Sale business started in Nigeria in 2013 when the Central Bank of Nigeria introduced the agent banking system. A POS agent operates and processes transactions through a POS service provider. Providers of such services include banks, microfinance banks and fintech companies. <h2>5. Run a flexible budget</h2> Once your budget is created, remember that it’s not set in stone. It should be flexible if anything changes in your life. For instance, an amount saved to buy a car can be invested in a promising venture buying shares through public offerings or private placements in multinational organisations like Nestle or Unilever. Also, health emergencies or career advancement programmes can require taking some money out of our savings. In all, budgeting should be flexible enough to incorporate exigencies, especially when catering for the current situation will culminate into a greater good.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/195590/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/oluwabunmi-adejumo-1370664">Oluwabunmi Adejumo</a>, Lecturer/Researcher, <a href="https://theconversation.com/institutions/obafemi-awolowo-university-2843">Obafemi Awolowo University</a> Image credits: Getty Images This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/five-tips-for-developing-and-managing-your-budget-even-in-tough-economic-times-195590">original article</a>.

Money & Banking

The cheapest places to travel in 2024

With the cost of living continuing to rise, many people are looking for cost-friendly ways to travel the world in 2024. Some destinations are more economic than others, with these somewhat overlooked holiday hotspots showcasing the best of travelling without breaking the bank. If you’re looking for a new adventure this year, these corners of the globe are the cheapest places to travel in 2024. The Philippines The underrated gem located only a few hours northeast of Australia is one of the cheapest destinations in Asia, it's a wonder why more tourists don’t visit. Not only is it home to over 7,500 picturesque islands, six UNESCO World Heritage Sites and an endless chain of pristine beaches, it's also very affordable with resort accommodation under $100 a night is not hard to find. On top of accommodation, day tours and activities (snorkelling, for example) will set you back around $30 to $40. Flights are also reasonable in cost, with return flights from Sydney to Manila coming in around $600 per person. Turkey Travellers can get to Istanbul from Melbourne and back for approximately $1,300 per person, to visit some of the world’s most historical sites. Turkey is a paradise for those travelling on a budget, with mouthwatering meals can be found regularly for as little as $5, and even less for street food. To make it even better, striking accommodation in the historic Galata region can be as low as $50 a night. Hungary Hungary is regularly dubbed one of Europe’s cheapest tourist destinations, with accommodation, dining and entertainment costs significantly lower than the neighbouring countries. Expect to part with $60 to $100 a night for a pretty-as-a-picture hotel in the city centre, around $10 to $15 for meals in restaurants, and anywhere between $7 to $30 for activities. There are also tourist passes available that make these costs even cheaper. Albania Located on the western part of the Balkan peninsula, this destination is often overlooked by tourists, making it an ideal budget-friendly destination. The stunning country is home to UNESCO World Heritage sites and turquoise beaches, all while keeping your budget in mind. Beachside accommodation can be found for as little as $70 a night, with prices comparable to Turkey for restaurant meals. Image credits: Getty Images

International Travel

Give the gift of luxury on any budget

As the weather starts to warm up, a lot of us are kick starting our summer holiday and Christmas plans. While trips away and what’s on the menu for Christmas lunch are obviously vitally important, it's also good to get a jump on buying Christmas presents for your loved ones. It can be hard to think of a thoughtful gift for that special someone, especially when that person may seemingly have everything. Luckily, L’Occitane’s Christmas gift giving guide has you covered. Featuring everything from affordable stocking fillers, to the most luxurious product packs, the L’Occitane 2023 Christmas collection is certain to have something for everyone. For those looking to really spoil their loved one, they have limited edition sets for the ultimate pamper experience. This year, L’Occitane have three collections on offer, each featuring heavenly scents and full-sized products for $129 each. For those on a tighter budget, or those looking to add in a little extra something special as a stocking filler, L’Occitane’s iconic mini baubles are back for another year. The baubles feature a range of mini products in varying scents for $25, giving each person a chance to fall in love with their new favourite product before committing to a full size version. <blockquote class="instagram-media" style="background: #FFF; border: 0; border-radius: 3px; box-shadow: 0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width: 540px; min-width: 326px; padding: 0; width: calc(100% - 2px);" data-instgrm-permalink="https://www.instagram.com/p/ClnauzdvCFO/?utm_source=ig_embed&utm_campaign=loading" data-instgrm-version="14"> <div style="padding: 16px;"> <div style="display: flex; flex-direction: row; align-items: center;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 40px; margin-right: 14px; width: 40px;"> </div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 100px;"> </div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 60px;"> </div> </div> </div> <div style="padding: 19% 0;"> </div> <div style="display: block; height: 50px; margin: 0 auto 12px; width: 50px;"> </div> <div style="padding-top: 8px;"> <div style="color: #3897f0; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: 550; line-height: 18px;">View this post on Instagram</div> </div> <div style="padding: 12.5% 0;"> </div> <div style="display: flex; flex-direction: row; margin-bottom: 14px; align-items: center;"> <div> <div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(0px) translateY(7px);"> </div> <div style="background-color: #f4f4f4; height: 12.5px; transform: rotate(-45deg) translateX(3px) translateY(1px); width: 12.5px; flex-grow: 0; margin-right: 14px; margin-left: 2px;"> </div> <div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(9px) translateY(-18px);"> </div> </div> <div style="margin-left: 8px;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 20px; width: 20px;"> </div> <div style="width: 0; height: 0; border-top: 2px solid transparent; border-left: 6px solid #f4f4f4; border-bottom: 2px solid transparent; transform: translateX(16px) translateY(-4px) rotate(30deg);"> </div> </div> <div style="margin-left: auto;"> <div style="width: 0px; border-top: 8px solid #F4F4F4; border-right: 8px solid transparent; transform: translateY(16px);"> </div> <div style="background-color: #f4f4f4; flex-grow: 0; height: 12px; width: 16px; transform: translateY(-4px);"> </div> <div style="width: 0; height: 0; border-top: 8px solid #F4F4F4; border-left: 8px solid transparent; transform: translateY(-4px) translateX(8px);"> </div> </div> </div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center; margin-bottom: 24px;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 224px;"> </div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 144px;"> </div> </div> <p style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; line-height: 17px; margin-bottom: 0; margin-top: 8px; overflow: hidden; padding: 8px 0 7px; text-align: center; text-overflow: ellipsis; white-space: nowrap;"><a style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: normal; line-height: 17px; text-decoration: none;" href="https://www.instagram.com/p/ClnauzdvCFO/?utm_source=ig_embed&utm_campaign=loading" target="_blank" rel="noopener">A post shared by L’Occitane en Provence | ANZ (@loccitaneanz)</a> </div> </blockquote> L’Occitane has a whole range of stocking fillers available, such as hand cream packs, deluxe Christmas crackers, and much more. For those who simply can’t wait until December 25th to unwrap their L’Occitane goodies, the luxury brand has brought back their deluxe Advent Calendars for another year. With both the Classic and Deluxe beauty advent calendars on offer, enjoy a little luxury everyday of December until Christmas Day. <blockquote class="instagram-media" style="background: #FFF; border: 0; border-radius: 3px; box-shadow: 0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width: 540px; min-width: 326px; padding: 0; width: calc(100% - 2px);" data-instgrm-permalink="https://www.instagram.com/p/CxIEHK7PDpG/?utm_source=ig_embed&utm_campaign=loading" data-instgrm-version="14"> <div style="padding: 16px;"> <div style="display: flex; flex-direction: row; align-items: center;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 40px; margin-right: 14px; width: 40px;"> </div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 100px;"> </div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 60px;"> </div> </div> </div> <div style="padding: 19% 0;"> </div> <div style="display: block; height: 50px; margin: 0 auto 12px; width: 50px;"> </div> <div style="padding-top: 8px;"> <div style="color: #3897f0; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: 550; line-height: 18px;">View this post on Instagram</div> </div> <div style="padding: 12.5% 0;"> </div> <div style="display: flex; flex-direction: row; margin-bottom: 14px; align-items: center;"> <div> <div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(0px) translateY(7px);"> </div> <div style="background-color: #f4f4f4; height: 12.5px; transform: rotate(-45deg) translateX(3px) translateY(1px); width: 12.5px; flex-grow: 0; margin-right: 14px; margin-left: 2px;"> </div> <div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(9px) translateY(-18px);"> </div> </div> <div style="margin-left: 8px;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 20px; width: 20px;"> </div> <div style="width: 0; height: 0; border-top: 2px solid transparent; border-left: 6px solid #f4f4f4; border-bottom: 2px solid transparent; transform: translateX(16px) translateY(-4px) rotate(30deg);"> </div> </div> <div style="margin-left: auto;"> <div style="width: 0px; border-top: 8px solid #F4F4F4; border-right: 8px solid transparent; transform: translateY(16px);"> </div> <div style="background-color: #f4f4f4; flex-grow: 0; height: 12px; width: 16px; transform: translateY(-4px);"> </div> <div style="width: 0; height: 0; border-top: 8px solid #F4F4F4; border-left: 8px solid transparent; transform: translateY(-4px) translateX(8px);"> </div> </div> </div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center; margin-bottom: 24px;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 224px;"> </div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 144px;"> </div> </div> <p style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; line-height: 17px; margin-bottom: 0; margin-top: 8px; overflow: hidden; padding: 8px 0 7px; text-align: center; text-overflow: ellipsis; white-space: nowrap;"><a style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: normal; line-height: 17px; text-decoration: none;" href="https://www.instagram.com/p/CxIEHK7PDpG/?utm_source=ig_embed&utm_campaign=loading" target="_blank" rel="noopener">A post shared by L’Occitane en Provence | ANZ (@loccitaneanz)</a> </div> </blockquote> You can feel good about gifting L’Occitane goodies for Chrstmas this year, as the brand continues to make improvements to the materials they choose to package their products in. This year, L’Occitane has reduced the use of single-use materials by a further 8%, as they make it their mission to create a positive impact for both people and the planet. So when it comes to picking the perfect present for your loved ones this festive season, look no further than the luxuries of <a href="https://au.loccitane.com/">L’Occitane</a> to give the gift of indulgence to those who matter most. Image credits: Instagram

Beauty & Style

What is ‘budget Ozempic’ that’s all over social media? Can it help me lose weight?

<a href="https://theconversation.com/profiles/nial-wheate-96839">Nial Wheate</a>, <a href="https://theconversation.com/institutions/university-of-sydney-841">University of Sydney</a> and <a href="https://theconversation.com/profiles/jessica-pace-1401278">Jessica Pace</a>, <a href="https://theconversation.com/institutions/university-of-sydney-841">University of Sydney</a> Social media is lighting up over what influencers are calling “<a href="https://www.forbes.com/sites/brucelee/2023/09/09/budget-ozempic-tiktok-trend-how-its-contributing-to-the-laxative-shortage/?sh=1f54511b1569">budget Ozempic</a>”. These are drugs normally used as laxatives and stool softeners, but people are taking them to lose weight. The demand is so high in the United States, there are reports this is contributing to <a href="https://www.wsj.com/health/wellness/laxative-shortage-diet-weight-loss-5a15bf02">shortages</a> in pharmacies. These laxatives are just the latest alternatives influencers are touting for the <a href="https://www.abc.net.au/news/2023-09-09/ozempic-maker-novo-nordisk-becomes-biggest-company-in-europe/102812584">blockbuster drug</a> Ozempic. So, does “budget Ozempic” help you lose weight? Any weight loss is likely to be temporary and using these laxatives long term may be dangerous. <h2>Ozempic is in short supply</h2> Ozempic contains the active ingredient semaglutide. It is a prescription-only drug used to treat type 2 diabetes. One side effect of taking it is significant weight loss. This has led to so many people trying to obtain the drug there have been <a href="https://www.tga.gov.au/safety/shortages/information-about-major-medicine-shortages/about-ozempic-semaglutide-shortage-2022-and-2023">shortages</a>. Instead, some people have turned to more easily accessible over-the-counter alternatives to try to lose weight. That includes <a href="https://theconversation.com/natures-own-ozempic-or-berberine-is-all-over-social-media-but-does-it-really-help-you-lose-weight-206855">berberine</a>, which has been dubbed “nature’s own Ozempic”. <h2>What is ‘budget Ozempic’?</h2> “Budget Ozempic” is different to “nature’s own Ozempic”. It is the polymer polyethylene glycol 3350, or PEG 3350 for short. Chemically, it’s similar to other polymers used as ingredients in cosmetics, drug delivery, <a href="https://www.chemistryworld.com/features/raiders-of-the-lost-pigments/3007237.article">archaeological preservative paints</a>, soaps and even <a href="https://navyrecognition.com/index.php/naval-news/naval-news-archive/2023/june/13261-northrop-grumman-hits-production-milestone-with-trident-ii-d5-s-2000th-rocket-motor.html">missile fuel</a>. It’s not to be confused with ethylene glycol, which is used in antifreeze. Medically, PEG 3350 is mainly sold in Australia through pharmacies in <a href="https://australianprescriber.tg.org.au/articles/managing-constipation-in-adults.html">laxative and stool softening</a> products. It is also used to clean out your bowels before a colonoscopy. The products are referred to as <a href="https://www.healthdirect.gov.au/medicines/medicinal-product/aht,22630/macrogol-3350">macrogols</a>. Brands include DulcoSoft, Movicol, OsmoLax, ClearLax and ColonLYTELY. <h2>How can it cause weight loss?</h2> PEG 3350 is known as an <a href="https://www.nhs.uk/conditions/laxatives/#:%7E:text=Osmotic%20laxatives%20draw%20water%20from,brand%20names%20Duphalac%20and%20Lactugal">osmotic laxative</a>. It uses osmosis – how your body manages the balance of electrolytes in your blood serum – to soften your stools and treat constipation. When you swallow a drink with PEG 3350 the polymer isn’t absorbed by the body. Instead, as it passes through your intestines it draws water to it, making your faeces much more watery. Because it draws more water out of your body than you put into it from the drink, your weight goes down. That is, it just makes you dehydrated. This means any weight loss is likely to be short-lived; when you next drink, your body will retain more of the water to replace what was lost. To have any significant and sustained weight loss you’d need to take a lot of PEG 3350 every day. And at most, you would only lose a few kilograms. This is different to how <a href="https://www.nps.org.au/assets/medicines/42ccacc2-2326-42ad-ad14-abd6010499a4.pdf">Ozempic</a> works. Ozempic is similar to a family of hormones in your body called <a href="https://pubmed.ncbi.nlm.nih.gov/29364588/">incretins</a>. These have a number of actions that control both blood sugar levels and weight. For example, they slow how quickly food is absorbed from the stomach and decrease appetite, both of which help with sustained weight loss. <h2>Dangers and side effects</h2> PEG 3350 can make you <a href="https://www.healthdirect.gov.au/dehydration">dehydrated</a>. You may feel dizzy or light-headed, have a headache and have a dry mouth, lips or eyes. The concentration of electrolytes in your blood, such as salt, may also be too high (known as hypertonic blood serum). Hypertonic blood serum can affect the shape of your red blood cells, making it harder for them to carry oxygen around your body. This results in symptoms that include fatigue and tiredness, and those other symptoms of being dehydrated. In extreme cases it can result in <a href="https://psmf.org/story/emily-jerry/">death</a>. Incorrect levels of electrolytes can lead to other serious problems, affecting your heart and muscles. It can also lead to seizures, confusion, and coma. It can be dangerous to take PEG 3350 if you have heart disease, if your doctor has put you on a sodium-restricted diet, or if you already have an electrolyte disorder, such as <a href="https://www.healthdirect.gov.au/potassium">hyperkalaemia</a> (high potassium levels). These products are also dangerous for elderly people, those with kidney problems, and in very young children. Common side effects include anal irritation, vomiting, diarrhoea, nausea, cramps, pain, and swelling of your abdomen. Some people can have allergic reactions. If you use laxatives, including PEG 3350-based products, for a long period of time (over a period of weeks or months) then you may experience <a href="https://www.eatingdisorders.org.au/wp-content/uploads/2019/10/Eating-disorders-and-laxatives.pdf">withdrawal symptoms</a> if you stop taking them suddenly. These include constipation, bloating, weight gain and fluid retention. <h2>In a nutshell</h2> Overall, if you’ve been struggling with weight loss, then PEG 3350-based products are not a safe and effective solution. Any weight loss you experience will be temporary and may put your health at risk. Safer and more effective solutions are available. Eating healthily and exercising regularly are important first steps for anyone who wishes to lose weight. Otherwise, your GP or local pharmacist can help you with both lifestyle changes and medication options to help with weight loss.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/213457/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/nial-wheate-96839">Nial Wheate</a>, Associate Professor of the Sydney Pharmacy School, <a href="https://theconversation.com/institutions/university-of-sydney-841">University of Sydney</a> and <a href="https://theconversation.com/profiles/jessica-pace-1401278">Jessica Pace</a>, Associate Lecturer, Sydney Pharmacy School, <a href="https://theconversation.com/institutions/university-of-sydney-841">University of Sydney</a> Image credits: Getty Images This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/what-is-budget-ozempic-thats-all-over-social-media-can-it-help-me-lose-weight-213457">original article</a>.

Body

Shop around, take lunch, catch the bus. It is possible to ease the squeeze on your budget

<a href="https://theconversation.com/profiles/laura-de-zwaan-180752">Laura de Zwaan</a>, <a href="https://theconversation.com/institutions/griffith-university-828">Griffith University</a> It’s no secret that the cost of living has increased substantially over the last year, with rises of between <a href="https://www.abs.gov.au/media-centre/media-releases/employees-annual-living-costs-highest-record#:%7E:text=%E2%80%9CLiving%20costs%20for%20employee%20households,per%20cent%20was%20in%201986.">7.1 and 9.6 per cent</a> for all households. So what can households do to manage these increases? It might sound simple, but starting with a budget is the best approach. Even if you already have a budget, price increases mean it will need to be updated. For those new to budgeting, it is just a list of your income and expenses. Make sure you match the frequency of these so you are working out your budget over a week, or a fortnight, or a month. There are plenty of budgeting apps and websites that can help, such as the <a href="https://moneysmart.gov.au/budgeting/budget-planner">Moneysmart budget planner</a>. Once your budget is up to date, you can see your financial position. Do you have a surplus of cash – congratulations! You can save that money to help you in an emergency. But what about if you have less income than expenses? You need to work through a process of figuring out where you can cut back. Some expenses are easy to cut back on: <ul> <li> If you have multiple streaming services, drop back to one at a time. Check for any other subscriptions you might be paying for – if you are not using them frequently, now is the time to cancel. You can always resubscribe when money isn’t tight. </li> <li> If you are spending a lot of money on take out or paying for lunch, find cheaper alternatives such as eating at home and packing a lunch using cheaper ingredients. Switch to tap water for normal drinks, and take a travel cup of coffee with you. </li> <li> Check and see if public transport is cheaper for you. If you are using a lot of fuel and paying for parking, public transport could be a better option. </li> <li> Groceries can be a huge cost for families. It is always worth shopping around to not pay full price. Understand unit pricing and buy the products you use when they are on special. It might be necessary to switch to cheaper products. </li> <li> Check if you are paying too much for your utilities like internet, electricity and gas. There are comparison websites you can use, including the <a href="https://www.energymadeeasy.gov.au/">Energy Made Easy</a> website. You can also make simple changes such as turning off lights and using a saucepan lid when boiling water that will reduce your usage. </li> <li> Check other products you might be paying for, such as car, home and health insurance to see if you can save money by switching. Be careful with any life or disability policies. It is best to speak to a financial adviser before changing those as there can be implications for cover. </li> </ul> Other expenses, like housing, can be a lot harder to manage. Rising interest rates have pushed up mortgage repayments for homeowners. Mortgage interest charges have <a href="https://www.abc.net.au/news/2023-05-03/record-high-living-costs-businesses-contracting-interest-rates/102296992">risen by 78.9% over the year</a> to March 2023. For many homeowners, their repayments are unaffordable compared to when they first took out their mortgage. If you are struggling to afford your mortgage, the first step is to talk to your lender as soon as possible. Moneysmart has <a href="https://moneysmart.gov.au/home-loans/problems-paying-your-mortgage">useful information</a> on what to do when you can’t meet your mortgage payments. You may also be able to <a href="https://www.ato.gov.au/individuals/super/withdrawing-and-using-your-super/early-access-to-super/access-on-compassionate-grounds/access-on-compassionate-grounds---what-you-need-to-know/">access some of your superannuation</a> so you don’t lose your home, however bear in mind that this is a temporary solution and uses your retirement savings. Increased demand for rentals has seen average rents across Australia increase by <a href="https://content.corelogic.com.au/l/994732/2023-07-05/z2tcd/994732/1688600749Ly8Iv9wt/202306_CoreLogic_RentalReview_July_2023_FINAL.pdf">27.4% since the COVID pandemic</a>. Supply of rental properties is low, which means many people may not be able to find a suitable alternative if their rent increases and becomes unaffordable. It might be necessary to take on a housemate, or move to a cheaper location (make sure to consider additional costs such as transport). If your circumstances have changed suddenly and you cannot pay your rent, contact your landlord or property manager. If you are paying a lot in credit card or other personal debt repayments such as numerous Afterpay-style accounts, it could be a good idea to speak to a bank about consolidating. This can help move some expensive debt, such as that from credit cards, into lower interest debt and simplify your budgeting as there is only one payment. If debt is making your budget unmanageable, then you can call the <a href="https://ndh.org.au/">National Debt Helpline</a> or for First Nations Australians there is <a href="https://financialrights.org.au/getting-help/mob-strong-debt-help/">Mob Strong Debt Help</a>. A final option could be to increase your income by taking on more work. This can be a good solution, but if you already work full time it might be unsustainable. Two common side hustles to boost income are gig work, such as Uber driving, and multi-level marketing, which is selling goods like Doterra and Herbalife to family and friends. However, both are <a href="https://www.twu.com.au/wp-content/uploads/2023/03/McKell_QLD_Gig-Economy_WEB_SINGLES.pdf">low</a> <a href="https://eprints.qut.edu.au/216593/1/MLM_report_Print.pdf">paid</a> and in most cases you would be better off earning minimum wage as a casual employee.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/210895/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/laura-de-zwaan-180752">Laura de Zwaan</a>, Lecturer, Department of Accounting, Finance and Economics, <a href="https://theconversation.com/institutions/griffith-university-828">Griffith University</a> Image credits: Getty Images This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/shop-around-take-lunch-catch-the-bus-it-is-possible-to-ease-the-squeeze-on-your-budget-210895">original article</a>.

Money & Banking

"I'm not here to apologise": Dan Andrews fires up as Comm Games is scrapped

Dan Andrews has fired up at disappointed journalists after making the shock announcement that the 2026 Commonwealth Games would be cancelled. The Victorian premier shocked the nation with the announcement during a press conference on Tuesday, saying the event would not go ahead due to funding issues. He said the government had considered “every conceivable option” to still hold the games, but new budgets revealed the event, which was originally tipped to cost $2.6 billion, would likely blow out the budget to $7 billion. “I’m not here to apologise for not spending $7bn to deliver an event,” he said. “It’s about, do you deliver it at any cost or not? And the answer is we’re not.” Journalists then quizzed Andrews on what the cost of abandoning the event would be, which he refused to answer but assured the costs would be “fully accounted for” at a later date. While he said he would not “speculate” on discussions, he confirmed “very little costs had been incurred to this point”. Regional Victoria were awarded the rights to host the 2026 event last year after no other countries in the Commonwealth Games Federation volunteered. The Games were set to be held from March 17th to 29th in the regional towns of Geelong, Bendigo, Ballarat, Gippsland and Shepparton. Andrews went on to say the state could benefit much more from allocating the hefty multi-billion budget to other areas. “Today it’s not about finding fault with those cost estimates,” Mr Andrews said. “I will not take money out of hospitals and schools in order to fund an event that is three times the cost as estimated and budgeted for last year.” Mr Andrews said he had informed the Commonwealth Games authorities the state would seek to terminate the contract and said the subsequent meetings had been “amicable and productive”. In lieu of the Games, Mr Andrews announced the government would deliver the legacy benefits of the “housing, sporting infrastructure and tourism” benefits through other policies, using funds from the allocated $2.6 billion budget. Image credits: Getty Images

Money & Banking

Shop Smarter and Save Big: Unbeatable Deals on Appliances, Home items, and More in the EOFY Sales!

The end-of-financial year sales are one of the biggest shopping events of the year here in Australia. Our favourite brands across various categories slash the prices by huge margins so that we consumers can grab a bargain. This event takes place every year, and this time round, it may be one of the best yet, with unmissable bargains including the highly-rated <a href="https://go.skimresources.com/?id=204849X1683982&xs=13&url=https%3A%2F%2Fwww.canningvale.com%2Ftowels%2Fcollections%2Froyal-splendour%2F&xcust=sen_eofy_sales_2023" target="_blank" rel="noopener">Canningvale Royal Splendour Towel Sets,</a> which has over 2,500 5-star reviews! Reviewers shared their thoughts: “Love my new towels - they feel like a bit of luxury - great thickness and fluff. Very pleased” and “Beautiful soft lush towels very happy with purchase”. Even the talk-of-the-town Calming Blankets’ best-selling <a href="https://go.skimresources.com/?id=204849X1683982&xs=13&url=https%3A%2F%2Fwww.calmingblankets.com.au%2Fproducts%2Fweighted-blanket&xcust=sen_eofy_sales_2023" target="_blank" rel="noopener">adult weighted blanket is $100 off, reduced to $99</a>, so grab it while you can. When it comes to fulfilling your shopping needs, there's no better time than now. Why wait? By seizing this opportunity, you might just save yourself a pretty penny or two. We understand the challenges of navigating sales and limited timeframes to find the best deals, which is why we're here to lend a helping hand. Our expertise lies in uncovering the most enticing offers across various categories as we approach the end of the financial year. Whether you're looking to upgrade your tech and appliances, revamp your home bedding and towels for the colder weather, refresh your wardrobe for the new season, or even explore new beauty products, we've got you covered. Our extensive knowledge enables us to provide you with a comprehensive list of the best deals. So, without further ado, let's dive into our curated selection of deals for you to flick through below. <h2>Home </h2> <img src="https://oversixtydev.blob.core.windows.net/media/2023/05/BeddingSets_byToaHeftibaUnsplash_HERO.jpg" alt="" width="1280" height="720" /> Photo by Toa Heftiba on Unsplash We're approaching the peak of the cold weather, so If your bedding still seems better suited for keeping you cool rather than providing cosy warmth, now might be the perfect time to make a change. While you're at it, why not consider swapping out some home decor pieces as well? Give your space a winter makeover by adding touches of cosiness and incorporating warm colours. <h3>Myer </h3> <a href="https://go.skimresources.com/?id=204849X1683982&xs=13&url=https%3A%2F%2Fwww.myer.com.au%2Fc%2Foffers%2Fhome--sale%2Fbedroom-sale%3Ffacets%3Dmv--product_type_filter--quilt20covers%252Cmv--product_type_filter--sheets202620pillowcases%26pageNumber%3D1&xcust=sen_eofy_sales_2023" target="_blank" rel="noopener">Up to 50% off selected quilt covers and sheet sets</a> <a href="https://go.skimresources.com/?id=204849X1683982&xs=13&url=https%3A%2F%2Fwww.myer.com.au%2Fc%2Foffers%2Fhome--sale%2Fsale-tableware%2Fdinnerware--sale%3Ffacets%3Dmv--mfname--heritage%252Cmv--mfname--maxwell202620williams%252Cmv--mfname--robert20gordon%252Cmv--mfname--salt26pepper%252Cmv--mfname--vue%252Cmv--sale_type--402520off%26pageNumber%3D1&xcust=sen_eofy_sales_2023" target="_blank" rel="noopener">50% off Dinnersets by Maxwell & Williams, Robert Gordon, salt&pepper and more</a> <a href="https://go.skimresources.com/?id=204849X1683982&xs=13&url=https%3A%2F%2Fwww.myer.com.au%2Fc%2Foffers%2Fhome--sale%3Ffacets%3Dmv--mfname--royal20albert%252Cmv--mfname--royal20doulton%252Cmv--mfname--waterford%252Cmv--mfname--wedgwood%252Cmv--sale_type--252520off%252Cmv--sale_type--302520off%252Cmv--sale_type--402520off%252Cmv--sale_type--502520off%26pageNumber%3D1&xcust=sen_eofy_sales_2023" target="_blank" rel="noopener">Up to 50% off a great range of Wedgewood, Royal Doulton, Royal Albert and Waterford</a> <a href="https://go.skimresources.com/?id=204849X1683982&xs=13&url=https%3A%2F%2Fwww.myer.com.au%2Fc%2Foffers%2Fhome--sale%3Ffacets%3Dmv--mfname--sheridan%26pageNumber%3D1&xcust=sen_eofy_sales_2023" target="_blank" rel="noopener">Up to 50% off the original price of Sheridan</a> House: <a style="font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen, Ubuntu, Cantarell, 'Open Sans', 'Helvetica Neue', sans-serif;" href="https://www.house.com.au/collections/sale" target="_blank" rel="noopener">Up to 75% off House-wide EOFY Sale</a> Koala: <a href="https://koala.com/en-au/eofy-sale" target="_blank" rel="noopener">Up to 30% off site wide </a> Canningvale: <a href="https://go.skimresources.com/?id=204849X1683982&xs=13&url=https%3A%2F%2Fwww.canningvale.com%2Fsale%2Fbedding%2Fbedding%3Fis_index%3D0&xcust=sen_eofy_sales_2023" target="_blank" rel="noopener">40-60% Off in the Big Bedding Sale</a> Emma Sleep: <a href="https://go.skimresources.com/?id=204849X1683982&xs=13&url=https%3A%2F%2Fwww.emma-sleep.com.au%2Fsale%2F&xcust=sen_eofy_sales_2023" target="_blank" rel="noopener">Up to 55% off selected products</a> Sheridan: <a href="https://go.skimresources.com/?id=204849X1683982&xs=13&url=https%3A%2F%2Fwww.sheridan.com.au%2Fsale.html&xcust=sen_eofy_sales_2023" target="_blank" rel="noopener">Up to 50% off sitewide</a> Calming Blankets: <a href="https://go.skimresources.com/?id=204849X1683982&xs=13&url=https%3A%2F%2Fwww.calmingblankets.com.au%2Fcollections%2Fbest-sellers&xcust=sen_eofy_sales_2023" target="_blank" rel="noopener">Up to 50% off sitewide</a> Bed Bath N’ Table: <a href="https://www.bedbathntable.com.au/products/catalogue" target="_blank" rel="noopener">Clearance Sale Up to 60% off</a> Bed Threads: <a href="https://bedthreads.com.au/pages/bed-threads-sale" target="_blank" rel="noopener">Mid-Year Makeover Sale 15% off Everything</a> Freedom: <a href="https://www.freedom.com.au/c/best-selling" target="_blank" rel="noopener">Absolutely Everything on Sale</a> <a href="https://www.freedom.com.au/c/all-outdoor" target="_blank" rel="noopener">Up to 55% off all Outdoor Furniture</a> <a href="https://www.freedom.com.au/c/all-rugs" target="_blank" rel="noopener">Up to 40% off all Floor Rugs</a> Harris Scarfe: <a href="https://go.skimresources.com/?id=204849X1683982&xs=13&url=https%3A%2F%2Fwww.harrisscarfe.com.au%2Fcategories%3Fq%3D%3Arelevance%3Acategory%3Aquilts%3Acategory%3Apillows%3Acategory%3Acomforters-coverlets%3Acategory%3Atowel-collections%3AdealType%3AOnSale%3AdealType%3AFRIENDS%2520PAY%2520LESS&xcust=sen_eofy_sales_2023" target="_blank" rel="noopener">40-60% off all Homewares & Manchester</a> Dymocks: <a href="https://www.dymocks.com.au/books/promotion-winter-sale-june-2023/" target="_blank" rel="noopener">Books for $9.99 in the Winter Sale</a> Booktopia: <a href="https://go.skimresources.com/?id=204849X1683982&xs=13&url=https%3A%2F%2Fwww.booktopia.com.au%2Feofy-sale%2Fpromo3262.html&xcust=sen_eofy_sales_2023" target="_blank" rel="noopener">Up to 75% off top deals</a> My Deal: <a href="https://go.skimresources.com/?id=204849X1683982&xs=13&url=https%3A%2F%2Fwww.mydeal.com.au%2Fsale%2Fstylish-bedside-tables&xcust=sen_eofy_sales_2023" target="_blank" rel="noopener">Limited-time deals on bedside tables</a> Adairs: <a href="https://go.skimresources.com/?id=204849X1683982&xs=13&url=https%3A%2F%2Fwww.adairs.com.au%2Fsales%2F&xcust=sen_eofy_sales_2023" target="_blank" rel="noopener">Save up to 30% off</a> <h3>Tech & Appliances</h3> <img src="https://oversixtydev.blob.core.windows.net/media/2023/06/EOFY_Jonas-Leupe-on-Unsplash.jpg" alt="" width="1280" height="720" /> Photo by Jonas Leupe on Unsplash Tech and appliances are notorious for their hefty price tags, but their entertainment value or usefulness often justifies the investment. But, due to their high cost, it's wise to hold onto your bank card until the perfect deal presents itself, and that moment might be right now. Myer: <a href="https://go.skimresources.com/?id=204849X1683982&xs=13&url=https%3A%2F%2Fwww.myer.com.au%2Fc%2Foffers%2Fhome--sale%2Fappliances-sale&xcust=sen_eofy_sales_2023" target="_blank" rel="noopener">Great savings on Appliances by Breville, Sunbeam, Delonghi and more</a> <a href="https://go.skimresources.com/?id=204849X1683982&xs=13&url=https%3A%2F%2Fwww.myer.com.au%2Fc%2Foffers%2Fhome--sale%2Felectronics-sale&xcust=sen_eofy_sales_2023" target="_blank" rel="noopener">Great savings on Tech by BOSE, Ultimate Ears, FitBit, Garmin and more</a> Dyson: <a href="https://go.skimresources.com/?id=204849X1683982&xs=13&url=https%3A%2F%2Fwww.dyson.com.au%2Fdeals%2Feofy-sale&xcust=sen_eofy_sales_2023" target="_blank" rel="noopener">Save up to $450, plus receive complimentary gifts and additional accessories with selected technology.</a> The Good Guys: <a href="https://go.skimresources.com/?id=204849X1683982&xs=13&url=https%3A%2F%2Fwww.thegoodguys.com.au%2Fhisense-75kg-front-load-washer--hwfy7514&xcust=sen_eofy_sales_2023" target="_blank" rel="noopener">$500 Off! Fisher & Paykel 10kg Front Load Washer - $995</a> <a href="https://go.skimresources.com/?id=204849X1683982&xs=13&url=https%3A%2F%2Fwww.thegoodguys.com.au%2Fsamsung-75-inches-ls03b-4k-the-frame-qled-smart-tv-2022-qa75ls03bawxxy&xcust=sen_eofy_sales_2023" target="_blank" rel="noopener">$1100 Off! Samsung 75" LS03B 4K The Frame QLED Smart TV 2022 - $2395</a> <a href="https://go.skimresources.com/?id=204849X1683982&xs=13&url=https%3A%2F%2Fwww.thegoodguys.com.au%2Ftefal-easy-fry-classic-air-fryer-ey2018&xcust=sen_eofy_sales_2023" target="_blank" rel="noopener">$100 Off! Tefal Easy Fry Classic Air Fryer - $99</a> <a href="https://go.skimresources.com/?id=204849X1683982&xs=13&url=https%3A%2F%2Fwww.thegoodguys.com.au%2Fninja-intelli-sense-kitchen-system-ct682&xcust=sen_eofy_sales_2023" target="_blank" rel="noopener">$30 Off! Ninja Intelli-Sense Kitchen System - $319</a> Appliances Online: <a href="https://www.appliancesonline.com.au/promo/clearance-sale" target="_blank" rel="noopener">Save on Appliances in the Clearance Sale</a> <a href="https://www.appliancesonline.com.au/product/tefal-cy8515-cook4meplus-multi-cooker" target="_blank" rel="noopener">$99 off Tefal Cook4Me+ Multi Cooker + Bonus Gift</a> Bing Lee: <a href="https://go.skimresources.com/?id=204849X1683982&xs=13&url=https%3A%2F%2Fwww.binglee.com.au%2Fcategories%2Fpromotions%2Fend-of-financial-year-sale&xcust=sen_eofy_sales_2023" target="_blank" rel="noopener">Huge savings in the Yenda Financial Year Sale</a> <a href="https://go.skimresources.com/?id=204849X1683982&xs=13&url=https%3A%2F%2Fwww.binglee.com.au%2Fproducts%2Fdyson-v10-stick-vacuum-394101-01&xcust=sen_eofy_sales_2023" target="_blank" rel="noopener">$450 off Dyson V10™ Stick Vacuum, $649 (down from $1099)</a> Kogan: <a href="https://go.skimresources.com/?id=204849X1683982&xs=13&url=https%3A%2F%2Fwww.kogan.com%2Fau%2Fc%2Fdyson-australia-a%2F%3Fdispatch%3Dfree%26order_by%3D-discount%26shipping%3Dfree%26page%3D1&xcust=sen_eofy_sales_2023" target="_blank" rel="noopener">Save up to $450 on Dyson deals</a> <a href="https://go.skimresources.com/?id=204849X1683982&xs=13&url=https%3A%2F%2Fwww.kogan.com%2Fau%2Fc%2Fawesome-eofy-sale-tvs-home-entertainment%2Fshop%2Fcategory%2Fled-tv%2F&xcust=sen_eofy_sales_2023" target="_blank" rel="noopener">Save up to 55% off TV deals</a> Harris Scarfe: <a href="https://go.skimresources.com/?id=204849X1683982&xs=13&url=https%3A%2F%2Fwww.harrisscarfe.com.au%2Fsearch%3Fq%3Dsmith%2520nobel%3Arelevance%3Acategory%3Akettles%3Acategory%3Atoasters%3Acategory%3Aair-fryers&xcust=sen_eofy_sales_2023" target="_blank" rel="noopener">40% off all Air Fryers, Toasters & Kettles by Smith+Nobel</a> <h3>Fashion & Accessories</h3> <img src="https://oversixtydev.blob.core.windows.net/media/2023/06/EOFY_Priscilla-Du-Preez-on-Unsplash.jpg" alt="" width="1280" height="720" /> Photo by Priscilla Du Preez on Unsplash Time to give your wardrobe an upgrade for the winter season. Think cosy layers, earthy tones, and clothes that will keep you toasty warm. Find everything you need in the sales below, and get ready to rock that effortlessly stylish winter look! Myer: <a href="https://go.skimresources.com/?id=204849X1683982&xs=13&url=https%3A%2F%2Fwww.myer.com.au%2Fc%2Foffers%2Fwomen--sale%2Fwomen-lingerie-sale%2Fwomen-sleepwear-robes-sale&xcust=sen_eofy_sales_2023" target="_blank" rel="noopener">40% Off Women's sleepwear</a> <a href="https://go.skimresources.com/?id=204849X1683982&xs=13&url=https%3A%2F%2Fwww.myer.com.au%2Fc%2Foffers%2Fwomen--sale%2Fwomen-handbags-sale&xcust=sen_eofy_sales_2023" target="_blank" rel="noopener">FROM $69 EACH Selected women's handbags and wallets by Marcs, Guess, Tommy Hilfiger and more</a> <a href="https://go.skimresources.com/?id=204849X1683982&xs=13&url=https%3A%2F%2Fwww.myer.com.au%2Fc%2Foffers%2Fmen-sales%2Fmen-clothing-sale%3Ffacets%3Dmv--sale_type--302520off%26pageNumber%3D1&xcust=sen_eofy_sales_2023" target="_blank" rel="noopener">Up to 50% off a range of men’s fashion</a> <a href="https://go.skimresources.com/?id=204849X1683982&xs=13&url=https%3A%2F%2Fwww.myer.com.au%2Fc%2Foffers%2Fmen-sales%2Fmen-shoes-sale&xcust=sen_eofy_sales_2023" target="_blank" rel="noopener">NOW $119 EACH Selected men's shoes by Tommy Hilfiger, Lacoste, GANT, Polo Ralph Lauren, Adidas, Calvin Klein, Florsheim and Wild Rhino</a> <a href="https://go.skimresources.com/?id=204849X1683982&xs=13&url=https%3A%2F%2Fwww.myer.com.au%2Fc%2Foffers%2Fkids-sale%3Flabel%3D%26facets%3Dmv--mfname--bauhaus%252Cmv--mfname--milkshake%252Cmv--mfname--sprout%252Cmv--mfname--tilii%252Cmv--product_type_filter--coats202620jackets%252Cmv--product_type_filter--knitwear202620sweaters%252Cmv--sale_type--302520off%26pageNumber%3D1&xcust=sen_eofy_sales_2023" target="_blank" rel="noopener">30% off the original price of Kids' jackets, jumpers and cardigans by Milkshake, Sprout, Bauhaus, Tilii and Jack & Milly</a> The Iconic: <a href="https://go.skimresources.com/?id=204849X1683982&xs=13&url=https%3A%2F%2Fwww.theiconic.com.au%2Fwomens-sale&xcust=sen_eofy_sales_2023" target="_blank" rel="noopener">Up to 70% off women’s Mega Sale Event</a> <a href="https://go.skimresources.com/?id=204849X1683982&xs=13&url=https%3A%2F%2Fwww.theiconic.com.au%2Fmens-sale&xcust=sen_eofy_sales_2023" target="_blank" rel="noopener">Up to 70% off men’s Mega Sale Event</a> Cotton On: <a href="https://go.skimresources.com/?id=204849X1683982&xs=13&url=https%3A%2F%2Fcottonon.com%2FAU%2Fco%2Fco-sale&xcust=sen_eofy_sales_2023" target="_blank" rel="noopener">Sale up to 50% off original prices</a> Bonds: <a href="https://go.skimresources.com/?id=204849X1683982&xs=13&url=http%3A%2F%2Fbonds.com.au&xcust=sen_eofy_sales_2023" target="_blank" rel="noopener">40% off storewide</a> Seed Heritage: <a href="https://go.skimresources.com/?id=204849X1683982&xs=13&url=https%3A%2F%2Fwww.seedheritage.com%2Fsale%2Fwoman%2F&xcust=sen_eofy_sales_2023" target="_blank" rel="noopener">Up to 50% off all sale styles</a> <h3>Health & Beauty</h3> <img src="https://oversixtydev.blob.core.windows.net/media/2023/06/Jocelyn-Morales-on-Unsplash.jpg" alt="" width="1280" height="720" /> Photo by Jocelyn Morales on Unsplash There's nothing quite like treating yourself to something that enhances your health or beauty. If it boosts your confidence, it's definitely a smart investment. After all, you deserve to feel as good as you look, and that's something worth going for! 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We do not accept money for editorial reviews, and we only write about products we feel comfortable recommending to our readers. Thank you.<span style="color: #212529; font-family: -apple-system, 'system-ui', 'Segoe UI', Roboto, 'Helvetica Neue', Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol', 'Noto Color Emoji'; font-size: 16px; background-color: #ffffff;">

Home & Garden

Energy bill relief to benefit just one Aussie demographic

Nearly half a million older Australians will receive hundreds of dollars in energy bill relief as the federal government looks to battle rising power prices. Social Services Minister Amanda Rishworth revealed that all Commonwealth seniors health card holders will be given up to $500 per household. The 490,000-plus recipients will include an extra 16,320 people granted access to the card after the federal government introduced higher income thresholds for eligibility in November 2022. The new income limits are $90,000 for singles and $144,000 (combined) for couples. The government claimed this would benefit 52,000 older people by 2026-27. Rishworth explained the energy relief would be available from July 2023. The Australian Energy Regulator (AER) released its final determination on May 25, with a revised price increase higher than the March draft that saw a 20 to 22 per cent rise. AER chair Clare Savage said it had been a “difficult decision” but high wholesale energy costs continued to hike up retail prices. “No one wants to see rising prices, and we recognise this is a difficult time, that’s why it’s important for consumers to shop around for a better deal,” she said. Following the AER’s announcement, Opposition Leader Peter Dutton appeared on Today and said Prime Minister Anthony Albanese had “lied” to Australians about energy prices. “Let’s be very clear about it, he promised on 97 occasions your bill would go down by $275,” he told Today host Karl Stefanovic. “I think the government’s completely underestimating how much families and small businesses are hurting at the moment.” The bill comes shortly after the Australian Energy Regulator revealed electric prices were set to increase by 25 per cent for about 600,000 customers across three states from July 1. The federal government’s latest budget committed to $3 billion in financial support for those struggling to pay their power bill. Image credit: Shutterstock

Money & Banking

Common credit card mistakes to avoid

If you regularly use your credit card, you’ll know how easy it is to plonk down the plastic for your shopping and other purchases. It’s also easy to forget those pesky card payments that follow. Along with the convenience of credit cards comes the danger that your bills can quickly snowball into a major debt that can linger for years if not managed properly. It pays to be aware of the pitfalls of credit cards and ensure you’ve got good habits in place to avoid them as much as possible. The following are a few suggestions: Shop around for the best card deals Don't make the mistake of signing up for the first credit card offer that arrives in your mailbox. Go online and look for the best possible card terms and features to suit you. Credit card rates can vary significantly, depending on the card and type of promotion offered. Rewards programs Following on from the point above, make sure the card you choose provides features you genuinely need and will actively use. Credit card rewards are promoted to make consumers think they’re getting something for free. But when you add up what it costs to earn rewards, a rewards program may not be much of a perk. For instance, credit cards that offer rewards often have much higher interest rates than cards with no rewards. Keep track of your spending While using a credit card sometimes feels like you’re not really spending money, not keeping track of your spending can wreak havoc on your finances. Carry a small notebook or if you’re more tech savvy, use one of the many apps available on your phone to record your purchases so you won't get a nasty shock when you receive your monthly statement. Make sure you check your statements regularly too. Late and minimum payments Credit card payments that aren’t paid on time result in late fees and higher interest rates. Read through your credit card statement carefully so you know when the payment is due. Consider auto-payment facilities or put a recurring note in your calendar each month a few days in advance of your payment due date to ensure you don’t miss it. Most card statements list the date that payments must be received by to avoid penalty interest fees. Ideally, it’s best to pay the full amount every month. Only paying the minimum amount will make the situation worse over time by attracting cumulative interest payment penalties. Using cash advances While they’re a tempting option, cash advances attract higher interest rates and should be used with care. Handle with care! Credit cards can be useful financial tools when used responsibly. Getting into good habits can ensure you take full advantage of the benefits while avoiding the traps. Image credit: Shutterstock

Money & Banking

"What am I going to do?”: Centrelink mother points out crucial flaw in new budget policy for parents

An unemployed mother who relies on Centrelink benefits has broken down while noting a fatal flaw in Treasurer Jim Chalmers’ Federal Budget promises to parents. Jessica Blowers told ABC’s Q&A program that she will be forced off the Single Parent Payment when her daughter turns eight in August, leaving her unable to afford the rent increases. Currently, single parents can claim the Parenting Payment of $949.30 a fortnight until their youngest child turns eight. By September 2023, the age limit for the pay rise to when the youngest child is 14, as part of Chalmers’ budget. Ms Blowers is one of many copping the brunt of it as her daughter’s 8th birthday is four weeks before the new rules begin. She will also see a rent increase during that period from $900 a fortnight to $960. “What am I going to do? What is my choice, other than I am doing my best to get a job so that I can keep a house over my daughter's head,” she stressed to the treasurer. “When I'm applying for the jobs, I am faced with being told that more than 100 other candidates have applied for the same jobs - I'm not sure how I am supposed to compete against 100 other people for one job.” Ms Blowers added she “would like to know what measures the government has in place to bridge the gap that I and other parents in similar situations will find ourselves in”. “I don't have anywhere to go because I am paying my entire pension in rent. Everywhere else in Sydney is comparable to that.” Although sympathetic to her situation, Chalmers said those suffering like Ms Blowers were “the reason why we are lifting the age from eight to 14”. “This is something we were really keen to do in the Budget because we recognise the pressure that you are under as a single mum,” he explained. However, Chalmers was adamant that the new system could not be introduced any earlier than September 20, 2023. “We've tried to do is bring that change in as soon as possible. We think September is the soonest that we can do it,” he said. “I understand that that means a few weeks for you going from the current payment onto JobSeeker and (then) back onto the single parenting payment. “I would love to avoid that if we could, but what we're trying to do is provide this extra assistance ... that you need and deserve. If we could avoid those couple of weeks, we would, but September is the best we can do.” In total, some 57,000 single parents, 90 per cent of whom are women, will benefit from the new scheme. Previously they would have been moved onto the lower JobSeeker rate when their youngest child turned eight. “By age 14, children have typically settled into high school and need less parental supervision, and single parents are in a much stronger position to take on paid work," Prime Minister Anthony Albanese said when the policy was announced. Historically, the single parent payment was eligible for singles with children aged up to 16. But former prime minister John Howard, later supported by Julia Gillard, cut the age to eight in an attempt to encourage parents back into the workforce. Two advisory bodies have called for the government to extend the payment and the eligibility criteria. It is understood mutual obligation requirements will remain in order to continue encouraging parents to go back to work. Speaking to Nova radio in Perth, Mr Albanese explained he knew “firsthand what it's like to grow up with a single mum doing it tough”. “We want to look after single parents because we know that the role that they play in raising their children is such a priority for them and they’re deserving of more support,” he said. Image credit: ABC Q&A

Money & Banking

ATO cracks down on landlords submitting dodgy tax returns

The Australian Taxation Office (ATM) has plans to crack down on landlords submitting dodgy tax returns after an interview found nine in 10 made mistakes and wrongfully claimed expenses. Those working at home, including those who run home-based businesses and people who earn via short-term rental sites like Airbnb or Stayz, will also be under the thumb this year to file returns correctly, in a new bid to eliminate tax fraud. The review comes in the wake of a major funding boost to the ATO, announced in the 2023 federal budget, which saw an $89.6 million injection. The ATO claims there was a tax gap of $9 billion in the 2019-2020 financial year. Taxpayers paid 94.4 per cent of the whole amount theoretically owed to the Commonwealth, with deductions for rental expenses, including those incorrectly claiming negative gearing deductions, contributing $1.4 billion to the gap. Australian Tax Commissioner Tim Loh said the ATO will be taking action in 2023. "We encourage rental property owners and their registered tax agents to take extra care this tax time and review their records before lodging their return," Loh reportedly told The Age. "You can only claim interest on a loan used to purchase a rental property to earn rental income – don't forget, if your loan also includes a private expense, such as for a new car or a trip to Bali, you can only claim an interest deduction for the portion relating to producing your rental income.” Loh warned Australians who work from home and advised against the “copy and paste" tax return method. He said, ” We know a lot of people are working back in the office more compared to last year”, and the method the ATO uses to calculate working from home expenses has now changed. Image credit: Shutterstock

Money & Banking

Federal Budget 2023: How to make the most of the key promises

Treasurer Jim Charles has handed down his first budget for 2023/24, offering a series of measures aimed at tackling the cost-of-living crisis. Millions of Australians will receive a boost from the federal government medical care, bills and welfare payments, amid the forecast that the budget will be be in the black with a surplus of $4bn. Here’s what it means for you: Bill help Those who are on the pension, a seniors card holder or a recipient of family tax benefits A and B will be eligible to get help with energy bills thanks to a deal between the states and Commonwealth that’s worth $1.5bn. That means over five million eligible households and one million eligible small businesses will benefit from the scheme. The relief will come in the form of credits that apply directly to their power bills rather than cash, and the amount they receive will depend on the state they live in. Medicare Relief The incentives paid to GPs who bulk bill 11.6m eligible Australians including children under 16, pensioners and other concession card holders will increase. GPs will be able to claim the incentives for in-person consultations over six minutes long and certain telehealth consultations. GPs who bulk bill patients in the city will be paid a new incentive of $20.65 compared to the previous rate of $6.60, while regional GPs will receive a $31.40 incentive, up from $10.05. Welfare recipients Over 1.1 million vulnerable Australians will benefit from a $40 fortnightly boost from September, if parliament agrees. The increased base rate will apply to people receiving JobSeeker, Youth Allowance, Parenting Payment (partnered), ABSTUDY, Disability Support Pension (Youth) and Special Benefit. Rental assistance For many renters, this budget means that rent is forecasted to increase over the next year as the market tightens. However, for those currently receiving the maximum Commonwealth Rent Assistance allowance their payments will increase by 15 per cent. Here’s what the Federal Budget will look like at a glance: <ul> <li dir="ltr"> Budget deficit of $13.9 billion in 2023/24 </li> <li dir="ltr"> Commonwealth net debt to rise to $574.9 billion (22.3 per cent of GDP) in 2023/24 </li> <li dir="ltr"> Economic growth to fall to 1.5 per cent in 2023/24 </li> <li dir="ltr"> Unemployment rate to rise to 4.25 per cent in 2023/24 </li> <li dir="ltr"> Inflation as measured by CPI to be 3.25 per cent in 2023/24 </li> <li dir="ltr"> Wages to rise by four per cent in 2023/24 </li> </ul> And here are the key measures the federal budget has promised: <ul> <li dir="ltr"> Energy bill relief for five million households and one million businesses </li> <li dir="ltr"> Triple bulk-billing incentives and more funding for urgent care clinics </li> <li dir="ltr"> Base rate of JobSeeker and other payments to be raised for 1.1 million households </li> <li dir="ltr"> Commonwealth Rent Assistant rise for 1.1 million households </li> <li dir="ltr"> Housing boost including tax breaks for build-to-rent investors </li> <li dir="ltr"> $4 billion extra for renewable energy </li> <li dir="ltr"> Tax breaks for small business to write-off assets and reduce energy costs </li> <li dir="ltr"> Targeted help for jobless aged over 55 </li> <li dir="ltr"> Cut to cost of medicines </li> </ul> Image: Getty Images/ Martin Ollman / Stringer

Money & Banking

9 cost-effective ways to warm your home this winter

Sick of hearing about the same old heating methods that never quite do the job? Try these nine unconventional heating hacks. 1. Preheat your pyjamas While you shower, put your pyjamas in the dryer to ensure that you have toasty warm clothing to change into as soon as you leave the warmth of the bathroom. For a slightly more affordable version, wrap your PJs in a hot water bottle or heat bag, not only will it heat your clothes but it will make your bed toasty warm too, just be sure to remove the hot water bottle from your bed before you settle down to sleep for the night. 2. Join the fan club It might seem counter-productive but turning a fan on at the lowest setting will help circulate heat throughout the room. Don't knock it until you try it! 3. Hottie in the car Dreading your chilly morning commute to work? Make your early start a little easier to stomach by putting hand warmers into your pockets or heat up a hot water bottle with warm water or a heat bag and put it on your lap as you drive. 4. Utilise bubble wrap For those whose home insulation isn't up to scratch, a budget-friendly trick is to use bubble wrap to insulate your windows from the inside. To create the DIY double glazing, simply get some bubble wrap and use a product like blue-tac to hold it in place on your windows. 5. Make use of your curtains Keep your house warmer for longer by making use of your curtains and the limited winter sun. To do this, open all of your curtains on a sunny morning and allow the house to soak up as much heat as possible during the day. As night falls, let your curtains act as an additional piece of insulation by closing them at dusk and trapping heat inside the house. 6. Cuddle your pet When in doubt, a great way to stay warm on a cold night is by sharing body heat. While snuggling up with your partner might make you a little bit warmer, cuddling a furry pet will heat you up a lot faster. The key to success with this hack is to cuddle up with the fluffiest animal possible, so try and find a friend with a Ragdoll cat or a St Bernard. 7. Go camping… indoors Just because it's winter doesn't mean you can't go camping... well, as long as it's in the living room. For a warm night's sleep, fill up a tent with pillows and blankets, make sure it's all zipped up and settle down for the night. The enclosed space will heat up by trapping the air and using your body warmth to make the space nice and cosy. 8. Redecorate Positioning your favourite seat in front of the heater might feel great when you're sitting in it, but when you put furniture too close to a heating source you're actually stopping the hot air from circulating throughout the rest of the room. Fix this problem by repositioning your furniture and allowing the hot air to fill the whole room, rather than just absorbing it all up in one spot. 9. Get in the kitchen There's nothing like a good soup or a roast to make you feel better on a cold winter’s night. Cooking is an easy way to warm up the air in your home, while also providing you with something warm to eat at the same time. Republished with permission of <a href="http://www.stuff.co.nz/" target="_blank" rel="noopener">Stuff.co.nz</a>. Images: Getty

Home Hints & Tips

Workers eligible for $10,000 salary bump in federal budget revealed

Treasure Jim Chalmers has revealed the frontline workers who will receive a hefty pay rise in the federal budget to help with the cost of living pressures and improve equal pay for women. Some frontline workers will see a pay rise of $10,000 a year under the historic changes. It is part of the biggest pay rise to date for aged care workers that will distribute pay rises to 250,000 people working on the frontline to care for older Australians. Those eligible include nurses who could receive an extra $200 a week, enrolled nurses, assistants in nursing, personal care workers, head chefs and cooks, recreational activities officers (lifestyle workers) and home care workers. Under the changes, the following will secure a significant pay rise for working in aged care. <ul> <li>A registered nurse on a level 2.3 aware wage will receive an additional $196.08 a week (more than $10,000 a year)</li> <li>An enrolled nurse on a level 2 award age will receive an additional $145.54 a week (more than $7500 a year)</li> <li>An assistant in nursing on a level 3 award wage will receive an additional $136.68 a week (more than $7100 a year)</li> <li>A personal care worker on a level 4 (aged care award) or a home care worker on a level 3.1 (SCHADS award) will receive an additional $141.10 a week (more than $7300 a year)</li> <li>A recreational activity officer on a level 3 (aged care award) will receive an additional $139.54 a week (more than $7200 a year)</li> <li>A head chef/cook on a level 4 (aged care award) will receive an additional $141.12 a week (more than $7300 a year)</li> <li> A staff member with a Certificate III qualification will see a change from $940 per week to $1,082</li> </ul> Treasurer Jim Chalmers said it was hoped the investment would help the industry retain staff and lure new employees to the sector. “Every worker deserves a fair day’s pay for a fair day’s work and that’s what this will deliver for thousands in aged care across the country,’’ he said. “For too long, those working in aged care have been asked to work harder for longer without enough reward but with this Budget, that changes. “This investment recognises the incredible contribution that aged care workers make to our economy and community and will help to create a bigger incentive for young Australians looking for a rewarding career to pick aged care in the future.” Anika Wells, Minister for Aged Care, said the increase in pay reflected that aged care was physically and emotionally demanding work. The 15 per cent pay rise means that a staff member with a Certificate III qualification moves from earning only $940 per week to $1,082. “This record $11.3 billion investment is a historic and deserved pay rise for a workforce undervalued for far too long,’’ she said. “Fair wages play a major role in attracting and retaining workers to provide around the clock care for some of Australia’s most vulnerable people. Health and Aged Care Minister Mark Butler said the pay rise would make history. The wage increase is designed to help women and families struggling with the cost of living crisis and ensure that quality aged care workers are less inclined to consider leaving the sector over pay concerns. “Our commitment is long overdue recognition of the skilled work our aged care workers deliver day in, day out,’’ he said. Other workers in the budget are expected to include older Australians who are seeking employment and they will receive pay rises if they are over 60 but not yet eligible for the aged pension. The Albanese Government are also expected to boost payments for single parents after former Prime Minister Julia Gillard introduced changes to force parents - particularly women - to return to work earlier. Image credit: Getty

Money & Banking

Coronation Quiche anyone? You’ll need to fork out A$38. Here are cheaper and healthier options

If you are a monarchist, or just enjoy the tradition of the royal family, you may have heard about the Coronation Quiche – made with spinach, broad beans and tarragon. The idea is for us to make it and share it with friends and family during the coronation celebrations in May. King Charles and Queen Consort Camilla have just shared a <a href="https://www.royal.uk/coronation-quiche-0">recipe</a>. <blockquote class="twitter-tweet"> Introducing… Coronation Quiche! Chosen personally by Their Majesties, The King and The Queen Consort have shared a recipe in celebration of the upcoming <a href="https://twitter.com/hashtag/CoronationBigLunch?src=hash&ref_src=twsrc%5Etfw">#CoronationBigLunch</a> taking place up and down the country. <a href="https://t.co/aVcw9tNarP">pic.twitter.com/aVcw9tNarP</a> — The Royal Family (@RoyalFamily) <a href="https://twitter.com/RoyalFamily/status/1647917367798939648?ref_src=twsrc%5Etfw">April 17, 2023</a></blockquote> As dietitians, we’re interested in the quiche’s nutritional value. So we analysed its contents and found that although it’s quite a healthy dish, we could make a healthier version. Spoiler alert: the original recipe contains lard (pork fat). We’ve also found we could make the quiche using cheaper or more easily available ingredients. <h2>What exactly is a quiche?</h2> Today, most people consider quiche a French dish that’s essentially a savoury pie. It typically consists of a pastry crust filled with a mixture of eggs, cream and cheese, plus various other ingredients such as veggies, meat and herbs. Quiche can be served hot or cold. You can have it for breakfast, lunch or dinner with salad or veggies. <h2>How much does it cost?</h2> Quiches are usually quite economical to make. Most of the basic ingredients are cheap, and you can adapt the fillings depending on what’s in the fridge or left over from recent meals. Let’s see if this applies to the Coronation Quiche. We split the costs into typical quantities you can buy at the shops (for instance, six eggs) and the costs to make the quiche (which only needs two eggs). If you make the quiche from scratch and have to buy the ingredients in quantities sold in the shops, this will cost you almost A$38. Although this may seem a lot, you’ll have some ingredients left over for another meal. So how much do the ingredients cost for one quiche? We worked it out at $12 for the entire quiche, or $2 a serve. Quite reasonable! <h2>Can you make it even cheaper?</h2> Busy lives and the rising cost of living are front of mind right now. So here are a few things you can do to save time and money when making a Coronation Quiche: <ul> <li> buy pre-made pastry. Keep any sheets you don’t use for the quiche in the freezer </li> <li> use <a href="https://theconversation.com/are-home-brand-foods-healthy-if-you-read-the-label-you-may-be-pleasantly-surprised-189445">home-brand products</a> where possible </li> <li> consider vegetable shortening as it is a little cheaper than lard </li> <li> buy vegetables in season and from a farmers’ market </li> <li> can’t find tarragon? Try seasonal and cheap herbs such as parsley, basil or rosemary </li> <li> can’t find broad beans? Try cheaper pulses such as edamame or cannellini beans. </li> </ul> <h2>How nutritious is the Coronation Quiche?</h2> We also looked at the Coronation Quiche’s nutritional profile. We expressed quantities for the whole quiche, and per serve. <img src="https://oversixtydev.blob.core.windows.net/media/2023/04/quiche-nutrient.jpg" alt="" width="1280" height="720" /> <h2>The healthy … and the not so healthy</h2> This quiche has high amounts of healthy protein and fibre that come from the broad beans and eggs. One serving of this quiche gives you about 18-25% of your daily protein and about 10% of your daily fibre requirements, which is great. But the quiche has high levels of saturated fat, mostly from its high amounts of lard, butter and cream. Saturated fat has been linked to an increased risk of <a href="https://www.cochranelibrary.com/cdsr/doi/10.1002/14651858.CD011737.pub3/full">cardiovascular events</a>, such as heart attacks and stroke, because it raises levels of LDL cholesterol (the bad kind of cholesterol). This LDL cholesterol can build up in the walls of arteries and form plaques, leading to arteries hardening over time and increasing the risk of heart attack and stroke. So, high amounts of saturated fats is something we want to avoid eating too much of, especially if we have cardiovascular disease. It’s also something we want to avoid if we’re trying to lose weight. For an average Aussie consuming roughly 9,000 kilojoules per day, the recommended maximum intake of saturated fat is about 24 grams. Just one serve of this quiche has about 17g of saturated fat, which means there’s not much wriggle room for other foods after you have a slice. You may be better off trying <a href="https://nomoneynotime.com.au/healthy-easy-recipes/clares-rolled-oats-quiche">this quiche</a> instead, as it has half the amount of saturated fat as the Coronation Quiche. You could even try a <a href="https://www.wellplated.com/crustless-quiche/">crustless quiche</a>. <h2>4 ways to make a healthier quiche</h2> Here are a few swaps to help make this recipe healthier: 1. Use low-fat options. If you’re watching your weight and looking to reduce the kilojoules of the quiche, swap the full-fat cheddar cheese, milk and double cream to low-fat products. This will reduce the total fat content per serve from 29.6g to 15g and save 112.2 kilojoules per serve 2. Ditch the lard. Swap the lard for butter to save 15g of total fat per serve. This may change the texture of the quiche slightly but it will reduce the kilojoules 3. Use feta. Swap the cheddar cheese for feta cheese, which has fewer kilojoules per gram 4. Add extra veggies. This increases the fibre content of the quiche and adds loads of extra nutrients. Image credits: Getty Images This article originally appeared on <a href="https://theconversation.com/coronation-quiche-anyone-youll-need-to-fork-out-a-38-here-are-cheaper-and-healthier-options-204100" target="_blank" rel="noopener">The Conversation</a>.

Food & Wine

Tips for eating a healthy diet on a tight budget

When you’re on a tight budget, the idea of coming up with tasty, healthy meals on a regular basis can sometimes seem beyond us! We easily fall prey to slick grocery marketing, and when it comes to fitting meal preparation into our day, it’s easy to fall into a rut, succumbing to quick fix fast foods again and again. The good news is, you can be thrifty and healthy – with a little organisation and creativity, you can enjoy first class meals on a smart saver’s budget. Here’s a selection of tips to help with your creative cuisine challenge: <ul> <li>A golden rule is don’t shop when you’re hungry, as you’re more likely to buy things you don’t need. Shop with a list rather than buying on the spur of the moment.</li> <li>Buy fresh fruit and vegetables that are in season, and only enough for a week or so, as they go off quickly.</li> <li>Buy generic, no name and home brands where possible, especially for items where you’re not fussed about having the absolute best quality.</li> <li>Add some canned kidney beans, chick peas, lentils or other legumes to mince dishes or stews to make the meal go further. Canned beans are cheap, handy and healthy – a great addition to salads and other meals.</li> <li>Buying in bulk is almost always cheaper. It’s a great idea to buy non-perishable items in bulk (canned foods, dried beans and grains etc.), and you can freeze perishable items such as meat and bread in smaller portions to use as needed.</li> <li>When cooking a big meal, make extra to freeze or use later in the week for lunches or quick suppers. Double recipes, then freeze half.</li> <li>Use less expensive cuts of meat for casseroles that you slow cook; add extra vegetables and beans to make the meal go further.</li> <li>Look at purchasing perishables like meat and sushi at the end of the day when there are often clearances of stock close to use by dates.</li> <li>Check supermarket catalogues for specials and identify any products that you need before you go shopping.</li> <li>Buy block cheese and grate it yourself.</li> <li>Preserve when it’s cheap. Depending on your storage capacity, bottling, drying and freezing fresh fruits and vegetables is an excellent way to cash in on seasonal foods that are lower in cost but higher in taste and nutrition.</li> <li>Brown rice is a great addition to leftover meat and veggies. Although brown rice is slightly more costly than white, the nutritional payoff is well worth it.</li> <li>Pasta, likewise, is quick and easy to prepare, and can be paired with veggies, meat or a fresh salad. Have fun adding your own dash of inspiration (mushrooms, spices and herbs.) Choose wholemeal pasta when you can.</li> <li>Always keep spices, herbs and sauces handy – they can brighten up simple dishes.</li> <li>Bake your own goodies – that way you can make sure everything that goes into them is more nutritious. Plus, they are generally cheaper and tastier than store bought varieties.</li> <li>Soups can’t be beaten for nutrition and convenience, especially since you can use inexpensive soup mixes as your base. At the end of the week, make soup out of all your leftover veggies instead of throwing them out, and freeze anything you won’t eat in a few days. You can find great ideas on the internet by searching for recipes containing whatever you have in the fridge. Again, be creative, adding your own herbs and spices.</li> </ul> Image credits: Getty Images

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Beyond the spin, beyond the handouts, here’s how to get a handle on what’s really happening on budget night

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What is ‘budget Ozempic’ that’s all over social media? Can it help me lose weight?

Shop around, take lunch, catch the bus. It is possible to ease the squeeze on your budget

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