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News.com.au
a day ago
- Business
- News.com.au
‘Monster amount': 29-year-old Aussie reveals problem with HECS debt
A young Australian woman has claimed that indexation 'is the same as interest' after expressing her annoyance that she still has a 'monster' HECS-HELP debt. Sarah Jane, 29, works a corporate job in Sydney, lives on The Central Coast, and creates social media content on the side. At the moment, she has been exploring sharing financial content with her followers. She recently created a TikTok video revealing how she spent $1600 during a particularly expensive week, with that clip amassing over 100,000 views. Speaking to Ms Jane said she started creating money content because she enjoys watching it herself. There is also a still fair amount of mystery around how other people spend their money, but whenever she speaks with her friends, everyone expresses feeling poor and wonders how other people their age are budgeting. 'We've never made more money and never been poorer,' she said. In Ms Jane's case, while she declined to get into the specifics surrounding her income, she said her HECS-HELP debt, which is currently around $30,000, is something that plagues her. 'I'm the most risk adverse person financially. I don't have a credit card, or a car loan and I don't have any personal debt,' she said. 'HECS was sold to us as teenagers as this interest free loan but indexation is the same as interest.' Higher education loans in Australia don't charge interest, but they are subject to indexation based on inflation. In 2023, millions of Australians saw their loans increase by a whopping 7.1 per cent — the biggest jump seen in 30 years. In June 2024, the indexation rate was 4.7 per cent. HECS-HELP loans are now indexed in line with either the Consumer Price Index (CPI) or the Wage Price Index (WPI), depending on which figure is smaller, with this change backdated to June 1, 2023. On June 1, 2025, a 3.2 per cent indexation was applied to all student loan debts. However, last week, the Labor government introduced a bill to parliament. If passed, it will see student loan debts slashed by 20 per cent for approximately three million graduates. Ms Jane was 24 when she completed her bachelor's degree majoring in media. It took her longer than average to finish because she paused her degree to travel. She's now shocked that, even with five years of full-time work under her belt, she is still paying it off. 'I thought my HECS was not going to be a concern in my life. I'll get a bachelor's degree and I'll work in my industry and pay it off,' she explained. 'It is still $30,000 or something.' Living with that debt hanging over her head means it is a 'bigger piece' of her life than she would like. 'I'm paying off a monster amount of HECS debt,' she said. The 29-year-old said the cost of living crisis has made her notice things like her student debt. 'As someone that gets paid monthly, it feels like it evaporates. The cost of everything has gone up dramatically,' she said. 'I commute from The Central Coast to Sydney and it is $20 just on transport. I bring my lunch and breakfast to work every single day and it still adds up to $40 a day between transport and buying yourself one or two coffees.' Ms Jane said she feels like it is so easy to spend more than you want to as it 'snowballs' and everything costs so much money these days. The young worker claimed that she's a complete type-A personality, with a spreadsheet where she tracks her ingoings and outgoings. However, being diligent often isn't enough. For instance, Ms Jane was 'massively shocked' when she spent $1600 in a single week, as she often only spends $350 a week. The $1600 spend was also a week where she had a few social occasions collide, including her best friend's birthday. 'It was the perfect storm and a one-off week,' she said. What she's most proud of, though, is that she has a firm understanding of her finances, even if she's sometimes stunned by the cost of living. 'I used to find finance really intimidating, I found it really scary and it used to make me massively anxious,' she said. 'The more you understand it the less confronting it is.'
Yahoo
18-07-2025
- Business
- Yahoo
The List of Gold IRA Companies for 2025 Released by Affiliate Credo
Disclosure: The owners of this website may be compensated for referrals or recommendations made in this content. The opinions expressed may not be neutral or independent. NEW YORK, July 18, 2025 (GLOBE NEWSWIRE) -- Affiliate Credo, a financial content publisher based in New York, has released its annual research summary analyzing key developments in the U.S. Gold IRA industry for 2025. This report offers insights into notable players in the physical asset retirement market and highlights general market characteristics observed in the self-directed retirement industry. The 2025 research emphasizes transparency, educational support, and service accessibility as primary factors influencing consumer engagement with Gold IRA companies. Key Highlights from the 2025 Research Report Each company mentioned below offers its own free Gold IRA Kit with educational materials. You can request it directly on their website to learn more about their services. A trusted company focused on customer education and long-term support offers a highly structured onboarding process for retirement-focused individuals. One of the leading firms in rollover services helps customers streamline their IRA and 401(k) transitions with efficient and responsive support. A company that actively appeals to first-time customers offers transparent account minimums and easy onboarding options to start your precious metals journey. A provider offering gold, silver, platinum, and palladium stands out for its informative materials and direct communication approach. One digital-forward platform integrates live pricing tools and online dashboards to help manage physical asset portfolios more clearly and efficiently. This research aims to provide consumers with an overview of popular companies currently active in the Gold IRA space and to support broader financial literacy in retirement planning. About Affiliate CredoAffiliate Credo is a New York–based financial content publisher specializing in retirement research, educational materials, and comparative analysis across investment-related products. The platform is committed to improving access to clear and unbiased information that helps Americans make well-informed financial decisions. Media Contact:Affiliate CredoNew York, USAEmail: A photo accompanying this announcement is available at
UAE Moments
01-06-2025
- Business
- UAE Moments
UAE Rolls Out ‘Finfluencer' Licence for Finance Creators
The UAE has officially launched the region's first 'Finfluencer' licence, targeting individuals who create and share investment-related content online or through traditional media. This new move, introduced by the Securities and Commodities Authority (SCA), aims to bring financial content creators under regulatory oversight to ensure transparency and investor protection. أعلنت هيئة الأوراق المالية والسلع عن إطلاق رخصة "المؤثر المالي Finfluencer"، وهي الأولى من نوعها على مستوى المنطقة، في خطوة استراتيجية تهدف إلى تنظيم المحتوى المالي الرقمي، وحوكمة أنشطة الأفراد المؤثرين في تقديم التحليلات والتوصيات الاستثمارية، والتسويق المالي عبر المنصات… — SCA UAE (@sca_uae) May 28, 2025 Who Needs the Licence? The licence is meant for anyone offering investment advice, financial analysis, or insights related to regulated financial products or entities within the UAE. It applies to content shared through platforms like social media, YouTube, websites, or even seminars and public talks. This step comes as financial influencers continue to grow in reach and impact, often influencing decisions of everyday investors. Read More: Different types of social media influencers and their characteristics Free for the First Three Years To encourage content creators to sign up early, the SCA is waiving registration, renewal, and legal fees for the next three years. Applicants will need to register with the SCA and follow the rules laid out to promote market integrity and maintain public trust. Setting New Standards in the Digital Finance Space SCA's CEO, Waleed Saeed Al Awadhi, described the licence as a strategic step that reflects the UAE's push to lead digital transformation in financial regulation. He said the initiative is about more than just local oversight — it's a move to raise the global bar for how financial content is created, shared, and trusted. This licence marks another major milestone in the UAE's ongoing efforts to balance innovation with investor safety.
