This week's top reads

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A penny on a penny is a pile of pennies. It might sound old-school (and for some reason it makes me laugh) but right now it’s exactly what households need to face the pile-on of price rises coming from every which way.

But today has delivered a glimmer of hope for households. Draft figures from the Australian Energy Regulator indicate electricity prices could fall in NSW, South East Queensland and South Australia, with savings of up to 10 per cent being flaunted. It’s not locked in–we’ll get final prices in July–but for households under pressure, any relief will be welcome. 

Because let’s be honest, the hits keep coming. The RBA’s decision to ratchet up the cash rate yet again wedges households between a rock and a hard place. The soaring cost of fuel threatens to push inflation beyond 5 per cent, yet households with a mortgage now must pay more to somehow bring this essential cost down. It feels like something out of Monty Python.

You know the drill. Banks are passing on the hike in full to variable mortgages but largely still picking and choosing which savings accounts get a boost, with the majority of the hikes announced so far landing on the bonus rates–those ones with hoops to jump through–rather than the base rates you can actually bank on. 

I’ve said it before but it's worth saying it again: it’s time to take your nest egg shopping.

Speaking of shopping, it’s not just the savings rates getting competitive–the humble hot cross bun is quite the battleground. New Canstar research found nearly one in four Aussies say the specialty flavours are the highlight of their Easter, with one particular supermarket taking the crown for the top buns. Guess who?

According to Aussies, these are the tastiest hot cross buns for Easter.

With rates on the rise, there's more reason to compare home loans with lenders offering cashback sweeteners to entice borrowers. 

Private health insurance premiums rise in less than two weeks, with some Australians—like Canstar’s Lizzie—facing hikes up to 13%. What’s her plan? She’s compared her options (of course), worked out her policy is still competitively priced, so instead she’s prepaying the next 12 months at today’s prices at a saving of $496. Now this strategy will come down to how much of a hike you’re facing and whether that money is better off somewhere else. But if you have the cash spare it's worth crunching the numbers. If you decide to pre-pay, act swiftly; some funds say you have to do this by 25 March in order to lock in the price.

For those looking to buy, the week’s RBA hike will drop an average earner’s borrowing capacity by an estimated $12k. Across what could be three hikes, the drop could tally up to as much as $37k. To boost your chances of getting approved for your mortgage consider these moves: 1) clear lingering debts, 2) cancel your credit card (at least temporarily) and 3) shop around for a competitive rate. That said, don’t forget to look at the big picture: just because the bank says you can, doesn’t automatically make it a good idea. 

Afterpay Day is back, with more than 1,000 brands offering discounts of up to 70% until Sunday - but don’t let the hype derail your budget. You don’t need to use Afterpay to access most deals, and many retailers are running their own sales alongside it. Treat it like any other sale: make a list, set a spending limit, and avoid impulse buys. While Afterpay can help spread costs, it’s still a credit product. In a cost-of-living crunch, the best deal is often the one you don’t make unless you truly need it