Latest news with #RealMoney
Sydney Morning Herald
2 days ago
- Business
- Sydney Morning Herald
Power bills got you sweating? Stay warm without spending a fortune
Real Money, a free weekly newsletter giving expert tips on how to save, invest and make the most of your money, is sent every Sunday. You're reading an excerpt − sign up to get the whole newsletter in your inbox. As I write this on a frosty Melbourne morning, the mercury has dipped below 3 degrees, prompting the ritualistic donning of black puffer jackets and a sharp spike in the number of people working from home. I've heard it's also quite cold in Sydney but, frankly, whatever goes on north of the Murray River is none of my business. Scientists have also discovered that cold weather is often associated with thoughts such as 'oh my god I'm never going to be warm again' and 'can I do everything I need to get do today from bed?' It can also see many of us crank our heating up to ridiculous levels, which is great for short-term relief but bad from a power bill perspective. This is especially problematic for those of us with large or poorly insulated houses (so, basically, all of us, as 80 per cent of Australian houses have a two star or less energy rating). What's the problem? To make matters worse, energy prices are on the up. Power prices are set to rise by up to 9.7 per cent in NSW and 5 per cent in Victoria from July 1, after the market regulator announced its latest round of annual price setting. These rises are just an estimate too, as calculations by Canstar show that over the past six years, 67 per cent of the actual prices ended up higher than the proposed price. All in all, it's shaping up as a bad year to be cold. What you can do about it So if the chill is creeping a little too much for your liking (and it's only June!), here are some moves you can make: Shop around: You can put on as many jumpers as you like, or stack on three more blankets, but nothing will save you as much money as jumping ship to a new energy retailer. Comparison expert at iSelect, Sophie Ryan, says everyone should get on the front foot now and check how your current energy offer stacks up – including what your service and supply fees are. 'While power prices may be higher across the board and will increase further for many homes from July 1, there are still differences between retailers and plans, and even a small price difference could make a big difference to a quarterly energy bill,' she says. It's a common misconception (and something that I ramble on about all the time) that loyalty pays, but it doesn't. Your energy provider owes you nothing, and vice versa, so if another one is offering a better deal (even if it's just a one-off for new customers), go get it. The government even has a free, independent energy price comparing tool which you can access here.
The Age
2 days ago
- Business
- The Age
Power bills got you sweating? Stay warm without spending a fortune
Real Money, a free weekly newsletter giving expert tips on how to save, invest and make the most of your money, is sent every Sunday. You're reading an excerpt − sign up to get the whole newsletter in your inbox. As I write this on a frosty Melbourne morning, the mercury has dipped below 3 degrees, prompting the ritualistic donning of black puffer jackets and a sharp spike in the number of people working from home. I've heard it's also quite cold in Sydney but, frankly, whatever goes on north of the Murray River is none of my business. Scientists have also discovered that cold weather is often associated with thoughts such as 'oh my god I'm never going to be warm again' and 'can I do everything I need to get do today from bed?' It can also see many of us crank our heating up to ridiculous levels, which is great for short-term relief but bad from a power bill perspective. This is especially problematic for those of us with large or poorly insulated houses (so, basically, all of us, as 80 per cent of Australian houses have a two star or less energy rating). What's the problem? To make matters worse, energy prices are on the up. Power prices are set to rise by up to 9.7 per cent in NSW and 5 per cent in Victoria from July 1, after the market regulator announced its latest round of annual price setting. These rises are just an estimate too, as calculations by Canstar show that over the past six years, 67 per cent of the actual prices ended up higher than the proposed price. All in all, it's shaping up as a bad year to be cold. What you can do about it So if the chill is creeping a little too much for your liking (and it's only June!), here are some moves you can make: Shop around: You can put on as many jumpers as you like, or stack on three more blankets, but nothing will save you as much money as jumping ship to a new energy retailer. Comparison expert at iSelect, Sophie Ryan, says everyone should get on the front foot now and check how your current energy offer stacks up – including what your service and supply fees are. 'While power prices may be higher across the board and will increase further for many homes from July 1, there are still differences between retailers and plans, and even a small price difference could make a big difference to a quarterly energy bill,' she says. It's a common misconception (and something that I ramble on about all the time) that loyalty pays, but it doesn't. Your energy provider owes you nothing, and vice versa, so if another one is offering a better deal (even if it's just a one-off for new customers), go get it. The government even has a free, independent energy price comparing tool which you can access here.
Sydney Morning Herald
02-06-2025
- Business
- Sydney Morning Herald
The simple banking switch that could save you time and money
Real Money, a free weekly newsletter giving expert tips on how to save, invest and make the most of your money, is sent every Sunday. You're reading an excerpt − sign up to get the whole newsletter in your inbox. As a general rule, I try to contain any evangelising about personal finance or superannuation to within this column (you lucky things). That being said, I have been known to interrogate my friends about their super allocations (usually after one too many pints), but no one likes someone rambling on about ETFs or debt or whatever when they're just trying to have a good time. However, there was once, circa 2018, when this rule went completely out the window. It was peak neobank boom, and I had just decided to switch from my classic, big four bank account to one of the new challengers, with slick branding and a promise to revolutionise banking – two things I'm usually pretty dismissive of. But the change was like night and day, and I quickly began to pester my friends, telling them to do the same, to the point where many asked if I was getting some sort of kickback from the company (I wasn't). Loading What's the problem? In the end many of them caved, found out I was right, and I received some sweet, sweet vindication. But for many of us, this is an unthinkable move, with a recent survey from Finder revealing 51 per cent of adults are still with the same bank they started out with. This might sound like a bit of a 'so what' statistic, but imagine if you were still driving the same car you bought at 16? Or still working in the same part-time job? We're used to changing and moving on to the next best thing when the opportunity arises, but for some reason, this approach doesn't apply to our bank accounts. What you can do about it
The Age
31-05-2025
- Business
- The Age
The simple banking switch that could save you time and money
Real Money, a free weekly newsletter giving expert tips on how to save, invest and make the most of your money, is sent every Sunday. You're reading an excerpt − sign up to get the whole newsletter in your inbox. As a general rule, I try to contain any evangelising about personal finance or superannuation to within this column (you lucky things). That being said, I have been known to interrogate my friends about their super allocations (usually after one too many pints), but no one likes someone rambling on about ETFs or debt or whatever when they're just trying to have a good time. However, there was once, circa 2018, when this rule went completely out the window. It was peak neobank boom, and I had just decided to switch from my classic, big four bank account to one of the new challengers, with slick branding and a promise to revolutionise banking – two things I'm usually pretty dismissive of. But the change was like night and day, and I quickly began to pester my friends, telling them to do the same, to the point where many asked if I was getting some sort of kickback from the company (I wasn't). Loading What's the problem? In the end many of them caved, found out I was right, and I received some sweet, sweet vindication. But for many of us, this is an unthinkable move, with a recent survey from Finder revealing 51 per cent of adults are still with the same bank they started out with. This might sound like a bit of a 'so what' statistic, but imagine if you were still driving the same car you bought at 16? Or still working in the same part-time job? We're used to changing and moving on to the next best thing when the opportunity arises, but for some reason, this approach doesn't apply to our bank accounts. What you can do about it
Sydney Morning Herald
25-05-2025
- Business
- Sydney Morning Herald
Generation squeeze: Why Millennials should start preparing for retirement now
Real Money, a free weekly newsletter giving expert tips on how to save, invest and make the most of your money, is sent every Sunday. You're reading an excerpt − sign up to get the whole newsletter in your inbox. As a generation, Millennials cop a lot of flak. First from older generations – usually with some mumblings about avocado toast or work ethic – and recently from our younger Gen Z counterparts, who think we're cringe or whatever. As an official 'cusp' Millennial, I like to pretend none of this criticism applies to me, and that I'm not cringe at all but actually extremely cool and relatable. Plus, at least I actually know how to use a computer. But if we move past my delusions and into the world of facts, the truth is that Millennials are facing a serious problem. Dubbed the 'generational squeeze', a recent survey by financial advisory Findex found half of Millennial Australians believe they'll need to support their family members. One third believe they'll need to support their elderly parents, and one fifth say they'll have to support their children. Loading What's the problem? While the bank of mum and dad is renowned for handing out loans to children, Millennials could be the first generation that needs to support their offspring and their parents at the same time, a daunting prospect for a generation barely managing to afford the rent. Indeed, one in every five Millennials said they were not confident in their ability to support dependents in retirement. What you can do about it If you're in this boat, there are some things you can do now to prepare yourself:
