Shared from a friend? Subscribe or see past wins

Roll up! Roll up! The pre-budget circus has arrived in town and this year, we’ve got policy kites flying everywhere – a classic political tactic where an idea is leaked ahead of an official announcement to test public reaction.

The biggest one to crash and burn so far is talk of a $200-$300 cash handout for the majority of Australian workers.

Say what?

OK, so the RBA hikes rates to strip money from borrowers’ (and by default renters’) pockets to slow spending, then the government hands it back via a new tax offset? 

🤯

This circus has helped reignite the debate over whether the RBA’s sledgehammer of a cash rate lever is the right tool to slay the inflation dragon, particularly when hikes squeeze one cohort of Australians, but hand extra money to another via higher savings rates.

News from the RBA this time around was particularly grim, with the Governor confirming this latest rate hike will do nothing to stop the second wave of cost-of-living price rises coming down the line in the next six months. It’s time to get the red pen through the budget, yet again.

For those looking for a spending reset, take a look at Jasmine’s confessions of a, now reformed, shopaholic. Alternatively, it could be time to stretch out those higher-priced groceries. Your guide to meat stretching is below. 👇

Brace for impact: NBN Co is adjusting wholesale prices across all speed tiers this July. Check if your plan is set for a hike before your next bill arrives.

The RBA just delivered its third straight rate hike, pushing the cash rate to 4.35% and wiping out last year's relief. See how much this adds to your monthly mortgage and what a "good" rate looks like now.

The days of a cheap feed of chicken and chips are behind us. I learned this the hard way recently, when I pulled up to the window at Red Rooster and heard “that’ll be $42.30, please!” I was sure there’d been a mix-up, but no – turns out I was about to pay $16.95 for a six-piece box, $11.75 for some chicken pops and a further $13.60 for two somewhat meagre servings of chips. It was too late to back out (literally), so I gritted my teeth and tapped my card–serves me right for not checking the prices ahead of time. Had I been to the supermarket instead, I could have picked up a bag of fries and a boneless BBQ chicken for around $20.80–less than half the price! While a fast food splurge is sometimes necessary after a long day, don’t make the mistake I did. Make sure you check the prices carefully to avoid nasty drive-through surprises. 

Alasdair Duncan
Deputy Finance Editor

What on earth is meat stretching, you ask? No, it’s not you and your partner pulling at both ends of a steak, but instead adding hidden ingredients to bulk out the meal without compromising on taste. Lentils, black beans and kidney beans are your stretchy friends because they’ll take on the flavour of the dish, cost next to nothing, and keep that fibre count up without you noticing. For example, subbing 250g of mince for a $1 can of kidney beans, means you’ll pocket about $4.50 in change. Do that once a week and you’re looking at $234 in savings over the next 12 months.

The RBA’s May hike to 4.35 per cent has banks cranking up their rates in around one week’s time, but not everyone will be facing a 0.25 rate rise. Canstar rate tracking shows seven lenders, including ING, Qantas, and Virgin Money, have cut—yes CUT—variable rates in the last month. The catch? (There always is one). These advertised rates are only for new customers, not existing ones. If your mortgage rate is on a fast-track toward 7 per cent, it could be time to turn yourself from a long-suffering loyal customer into a fresh face and treat yourself to a competitive rate banks only serve new guests.

The federal government is overhauling the electric car discount to prioritise cheaper EVs. While the current Fringe Benefits Tax exemption on leases will continue until March 2027, from April next year, the full exemption will only apply to EVs priced under $75,000. Higher-priced models will transition to a partial 25 per cent discount, eventually becoming the standard for all eligible EVs by 2029. Importantly, existing leases are protected. If you’ve been considering a switch to electric, now is the time to lock in current benefits or plan for a more affordable model