|
Average mortgage size revealed; Gov FREE power plan; Half-price Dyson; Best credit cards for points; $200 off cult kitchen appliance |
Sally Tindall | Canstar's Money Expert |
|
|
| In terms of rabbits out of a hat, the federal energy minister, Chris Bowen pulled out a particularly fluffy one on Tuesday–free electricity for households for three hours a day 🎉.
Then came the caveats. It’s only for households in NSW, southeast Queensland and South Australia. It’s only for households with a smart meter (which ironically are, in many cases, those with solar panels who don’t need free energy at midday). It’s only for three hours in the middle of the day, when many Aussies are out of the house. Finally, if you want the three hours free, you’re going to have to sign up to a ‘default’ electricity plan which, at this point, could potentially be over 20 per cent more expensive.
There is huge merit underpinning this scheme. Getting us all to use more energy in the day, when the network is full to the brim from rooftop solar would take pressure off the over-worked and sometimes about-to-burst grid. It would also drive innovation to help us use energy at home when we’re not there (think remote controlled timers). However, to be effective, the cost of electricity outside of these hours needs to be competitive so we don’t blow out when we accidentally turn the dishwasher on at the ‘wrong’ time.
More work needs to be done on this concept (and maybe fewer rabbits out of hats). Got a wallet win or burning question? Send it my way at sally@canstar.com.au |
|
|
| How does your mortgage compare to other Aussies’? |
New data has revealed the average Aussie mortgage—and with rates holding steady for now, it’s a good time to see how you stack up and if a better deal is out there. |
|
|
| Energy rebates are ending—but new credits could save you even more! |
Households will soon face full-price power bills but there are still clever ways to save. |
|
|
Electricity plans offering credit for new customers |
Always check if you qualify before you switch. |
| Provider | Max credit on offer | Wait time for credit | State |
|---|
| 1st Energy | $150 | 12 months | TAS | | AGL | $100 | 90 days | NSW, VIC, QLD, SA | | Alinta Energy | $100 | First bill | NSW, VIC, QLD, SA | | Energy Locals | $100 | 6 months | NSW, VIC, QLD | | Engie | $250 | First bill | NSW, VIC, | | Kogan | $100 | First bill | NSW, VIC, QLD, SA | | Momentum Energy | $50 | First bill | NSW, VIC, QLD, SA | | Origin | $150 | Stay active until 31 Dec 25 | NSW, VIC, QLD, SA | | Powershop | $200 | First bill | NSW, VIC, QLD, SA |
|
Source: Canstar. Eligibility criteria for credit based on state and/or provider terms, as well as plan type. Additional terms and conditions may apply. |
Looking for better energy rates? See if you can find a better deal |
|
|
Is your insurance storm and bushfire season ready? |
With summer’s bushfire and storm season fast approaching–and following Brisbane’s recent hailstorm, which saw the Insurance Council of Australia report more than 11,000 insurance claims–now’s the time to check your cover. If you’re a homeowner or driver, take a moment to review your insurance policies and check exactly what you’re covered for and for how much. Not all insurers provide full protection for bushfire or storm damage, and some policies may no longer reflect current rebuilding or replacement costs due to inflation or updated building standards. A quick review now could save you stress (and expense) when severe weather hits.
|
Break free of Hotel California |
The Eagles hit is unfortunately a costly reality for many Australians, with Canstar research showing that 40 per cent of us have had difficulty getting out of a subscription, including 1 in 10 who say they’re still paying for one they tried to cancel. Hard-to-find cancellation buttons and endless screens asking ‘are you sure?’ are part of the problem. While the government is considering a rule to make opt-out as easy as opt-in, they’ve gone quiet since last year. While we wait, take matters into your own hands. A quick check in the settings of your iPhone or Android should list some of the subscriptions you’re signed up for along with cancellation instructions. It may take persistence but it’s worth it to make sure you can check out anytime you like AND leave.
|
First-home buyers fan the property price fire |
Australian property prices surged 1.1 per cent last month, the biggest monthly increase in over two years, according to property price experts Cotality, with the biggest rises among the capital cities recorded in Perth (up 1.9% in the month), followed by Brisbane (+1.8%). Unsurprisingly, the strongest gains were recorded in the lower and middle tiers of the market, where interest from first-home buyers has intensified thanks to the government’s newly expanded Home Guarantee scheme. Buyers are now competing fiercely for limited stock, directly pushing up prices. The question is, how much further can the market possibly rise and how on earth will anyone still sitting on the sidelines get in? A problem for a future government, rather than the current one, it seems.
|
|
|
|
