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Cheapest home-brand revealed; Nail in coffin for rate cuts; Beware of this energy offer; Boost your frequent flyer points; Are you being underpaid? |
Sally Tindall | Canstar's Money Expert |
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The streets might be filled with ghosts and vampires this Halloween, but it turns out your home is not, according to our resident energy detective, Eden. While we used to be fearful that leaving appliances permanently plugged in would rack up the electricity bill, developments in technology mean leaving many newer devices on standby isn’t as ghoulish as you might think. In fact, bending down or pacing the house to turn them off every night could well expend more energy than leaving them on (although I do appreciate the workout).
Unfortunately, no Halloween trick or treat is likely to give us more of a fright than Wednesday’s CPI figures, which saw inflation spike back up to 3.2 per cent. This puts a nail in the coffin of the chance of a rate cut this year and casts a shadow over the possibility of cuts in 2026. Where’s the treat, you ask? Canstar’s data team tells me nine lenders have cut at least one variable rate over the last month. Nine! And I’m not just talking about banks you’ve never heard of – the list includes Westpac and CBA’s offshoot Unloan. The trick? These cuts are only for new customers (of course), so it could be time to reinvent yourself from a long-serving loyal customer into a new one. Remember, there are over 30 lenders offering owner-occupier variable rates under 5.25%. How does your mortgage measure up?
Got a wallet win or burning question? Send it my way at sally@canstar.com.au |
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| Energy offer that might cost you |
There's not denying the allure of sign-up bonuses and incentives. But do they really save you money in the long run? |
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| Tips to earn frequent flyer points fast |
Insider tricks to rack up points quicker, so you can travel more and spend less! |
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Making sense of the Medicare Safety Net minefield |
The Medicare Safety Net is not something people aspire to reach, but if you do, you’ll want to know about it. For most people, once you’ve paid $576 in gap fees for the calendar year, you’ll be entitled to 100% of the schedule fee for out-of-hospital services (which sounds extremely generous, except many charge more than this, so you could still be out-of-pocket). If, even with this higher rebate, you end up paying more than $2,615.50, then even higher rebates can apply. Now, how to activate it? If you’re listed as an individual on your Medicare card, you’ll automatically be eligible, however, if you’re listed as a family, you’ll need to confirm each of the members with Services Australia before you’re paid the higher benefit.
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More changes coming to your super payments |
Payday Super is coming from mid next year, scrapping the current requirement for employers to pay super at least four times a year (about once every three months), to every time an employee gets paid, whether that’s weekly, fortnightly or monthly. It’s a small move in the scheme of things–like when your mechanic changes your windscreen wipers for you, without asking–but processing super alongside your pay will help make things clearer. Not only will it be easier to check you’re getting paid the right amount (it should be at least 12% of your before-tax pay), you’ll also benefit from having that money invested sooner, and hopefully be encouraged to check in on your super balance more regularly.
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Can cash go the distance in a digital world? |
Cash might not be king, but the government is moving to make sure it sticks around for the foreseeable future with the release of its new cash mandate, due to kick in from 1 January, 2026. Currently, the draft regulation says big grocery stores and petrol stations (big = turnover of over $10m p.a.) must accept cash for in-person payments of $500 or less, although the ACCC will have the power to grant exemptions. The idea is to ensure cash remains a viable payment option across the country in the years ahead, however, some say the mandate doesn’t extend far enough. You can have your say but only until this Friday (31 October).
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