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“Lesson learnt”: Expat fined for parking mistake

<p>A British expat has copped a hefty fine after going against a "common sense" road rule.</p> <p>The man had just moved to Sydney and was visiting the famous beaches in Shoalhaven, NSW when he copped a $200 fine for parking on the wrong  side of the road, facing against the direction of traffic flow.</p> <p>“Never heard of this before. It didn’t say anything about no parking and I’ve come back, and I’ve got a ticket, ” he said n the video posted on social media. </p> <p>While it is an offence in Australia, in the UK the parking technique is permitted, except at night. </p> <p>“Lesson learnt,” he ended his clip.</p> <p>The video received a lot of comments, with one asking the obvious question: “Didn’t you see what the other cars were doing?”</p> <p>Another added: “If the cars are all facing the one way, park that way. Why would you park facing the wrong way then all the other cars are facing the other way?” </p> <p>“Wasn’t it obvious?” a different person questioned.</p> <p> </p> <div class="embed" style="box-sizing: inherit; margin: 0px; padding: 0px; border: 0px; font-size: 16px; vertical-align: baseline; outline: none !important;"><iframe class="embedly-embed" style="box-sizing: inherit; margin: 0px; padding: 0px; border: 0px; font-size: 16px; vertical-align: baseline; outline: none !important; width: 535px;" title="tiktok embed" src="https://cdn.embedly.com/widgets/media.html?src=https%3A%2F%2Fwww.tiktok.com%2Fembed%2Fv2%2F7462819112226540833&display_name=tiktok&url=https%3A%2F%2Fwww.tiktok.com%2F%40archoz_2025%2Fvideo%2F7462819112226540833&image=https%3A%2F%2Fp16-sign-useast2a.tiktokcdn.com%2Ftos-useast2a-p-0037-euttp%2FogAIQEeARJOEnAQfRA5kCUnTbHGDECF1PRWDjH%7Etplv-dmt-logom%3Atos-useast2a-i-0068-euttp%2Fo0nbEYRzCBSwQAAwr8ARPoEAiB5iZIQdj0FCv.image%3Flk3s%3Db59d6b55%26x-expires%3D1737849600%26x-signature%3DbzHLO2CQeaQN%252BZr1Nmm%252Fw5t8q1A%253D%26shp%3Db59d6b55%26shcp%3D-&type=text%2Fhtml&schema=tiktok" width="340" height="700" frameborder="0" scrolling="no" allowfullscreen="allowfullscreen"></iframe></div> <p>Others told him that it was just "common sense" but he insisted that everyone in the UK parks in different directions” despite also driving on the left-hand side of the road.</p> <p>A few people explained why they think the rule exists. </p> <p>“I think it’s because to get out of that park you would have to drive into oncoming traffic,” one user suggested. “Maybe in the UK your lanes are small and this would be okay but 99 per cent of our roads are wide and this is not needed.”</p> <p>“And to get into that park in the first place, you have to drive on the wrong side,” another person pointed out.</p> <p>Some British commenters could relate to the man's mistake, saying:  “I’ve been caught out doing this too,” and “It did my head in when I first moved here!”</p> <p>The penalty for parking in the wrong direction of travel can reach up to 257, and in school zones, this fine can increase to $330 plus two demerit points.</p> <p><em style="box-sizing: inherit; margin: 0px; padding: 0px; border: 0px; font-size: 16px; vertical-align: baseline; color: #323338; font-family: Figtree, Roboto, 'Noto Sans Hebrew', 'Noto Kufi Arabic', 'Noto Sans JP', sans-serif; background-color: #ffffff; outline: none !important;">Images: TikTok</em></p>

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Ray Martin cashes in after selling luxury Sydney home

<p>Ray Martin has made a whopping $7.1 million after selling the family home he has owned on Sydney's north shore for thirty-five years.</p> <p>The veteran journalist sold the five-bedroom, three-bathroom mansion in the suburb of Waverton for a reported $8 million, after Martin and his wife Dianne bought the luxurious 1930s-era house in 1990 for $900,000.</p> <p>The beautiful home, known as Finisterre, sold for between $8 million and $8.5 million after being listed on January 1st, according to reports from <em><a href="https://www.realestate.com.au/news/ray-martins-8m-home-sale-bonanza/" target="_blank" rel="nofollow noreferrer noopener">The Daily Telegraph</a></em>.</p> <p>Located just 5km from the Sydney CBD, the gorgeous two-storey home features classic period stylings and luxurious interiors.</p> <p>The stunning home boasts impressive features such as grand scale living areas, a beautiful patio for entertaining and a glass-framed mosaic-tiled pool, while a chef's kitchen features the latest appliances and a breakfast island.</p> <p>Other highlights include a 'formal' living room, a separate family room, a home office and an open-plan dining area that opens out to the backyard and patio.</p> <p>The upper level offers a large open terrace which features views of Sydney Harbour and the city skyline.</p> <p>Other luxury features on the estate also include a wine cellar, a second-floor study and landscaped gardens.</p> <p><em>Image credits: SBS / McGrath Real Estate</em> </p>

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Cruel scam targets radio star's elderly mum

<p>Radio star Bianca Dye has revealed that her elderly mother was the target of a cruel scam. </p> <p>The <em> i98 </em>radio host told <em>9Honey</em> that her mother, Anne, was at home when she received a series of texts from someone pretending to be her. </p> <p>The first text Anne received claimed that Dye was using a friends phone, before "they sent something about me needing help with an urgent tax bill."</p> <p>At the time, Dye was in Wollongong in NSW hosting the breakfast shift, when her mother received  the <span style="font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen, Ubuntu, Cantarell, 'Open Sans', 'Helvetica Neue', sans-serif;">"urgent tax bill"</span><span style="font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen, Ubuntu, Cantarell, 'Open Sans', 'Helvetica Neue', sans-serif;"> text requesting $3,000. </span></p> <p>"When parents get older, they don't want to bother you. She didn't want to stress me out," she added, fighting back tears. </p> <p>"But by not contacting me the day it happened and waiting until the next day, she had worked herself up into tears. She didn't sleep a wink."</p> <p>"So she was sending text messages to some stranger."</p> <p>By the time Anne rang her daughter, she was trying to transfer the money, but got the credit card number confused. </p> <p>Fortunately, Dye had a friend check in on her mum, who was able to take Anne to her local branch for help. </p> <p>"They got it all sorted, changed her PIN, no money had been taken out," Dye said. </p> <p>While it was a close call for Dye many Australians, particularly the elderly, are common targets for scammers. </p> <p>Dye hopes to raise awareness of such scams and spoke with cyber security expert Damien Cantelo of Apollo Secure who shared a few safety tips. </p> <p>"Certainly [parents] should take the approach of 'trust no one, assume nothing', because if it's a text message or a call, [scammers] are getting more sophisticated so it's harder to detect," Cantelo said.</p> <p>"A really good tip is to set up a 'safe word'. So you and your family have a word, you just make up a random word.</p> <p>"And if ever there's anything a little bit fishy going on, you can say, 'Oh, hey Bianca, what's the safe word?' And then if you don't have it, then they know to hang up."</p> <p>Dye added that as scams get more intricate, it may be more difficult for older people, especially those who may suffer from memory loss, to detect the scams. </p> <p>"It's a terrifying future for the elderly unless someone tech savvy is living in the house with them," Dye added.</p> <p><em>Image: Bianca Dye/ 9Honey</em></p>

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Does ‘made with love’ sell? Research reveals who values handmade products the most

<div class="theconversation-article-body"><em><a href="https://theconversation.com/profiles/tuba-degirmenci-2291455">Tuba Degirmenci</a>, <a href="https://theconversation.com/institutions/queensland-university-of-technology-847">Queensland University of Technology</a>; <a href="https://theconversation.com/profiles/frank-mathmann-703900">Frank Mathmann</a>, <a href="https://theconversation.com/institutions/queensland-university-of-technology-847">Queensland University of Technology</a>, and <a href="https://theconversation.com/profiles/gary-mortimer-1322">Gary Mortimer</a>, <a href="https://theconversation.com/institutions/queensland-university-of-technology-847">Queensland University of Technology</a></em></p> <p>We’ve all seen the marketing message “handmade with love”. It’s designed to tug at our heartstrings, suggesting extra care and affection went into crafting a product.</p> <p>As Valentine’s Day approaches, many businesses will ramp up such messaging in their advertising.</p> <p>Handmade gifts are often cast as more thoughtful, special options than their mass-produced, machine-made alternatives.</p> <p>But does “love” actually sell? Our new <a href="https://onlinelibrary.wiley.com/doi/10.1002/cb.2455">research</a>, published in the Journal of Consumer Behaviour, reveals not everyone feels the same way about these labels.</p> <p>Why do some people feel handmade products are made with love, while others don’t really care? We found it’s all about how they approach purchase decisions.</p> <h2>A deeper, human connection</h2> <p>Why do businesses market products as handmade? Previous research has shown handmade labels can lead to higher positive emotions. This tendency is known as the “<a href="https://journals.sagepub.com/doi/abs/10.1509/jm.14.0018">handmade effect</a>”.</p> <p>In a world of seemingly perfect and polished products, <a href="https://www.emerald.com/insight/content/doi/10.1108/09590551211267593/full/html">research</a> shows consumers increasingly prefer human (as opposed to machine) interactions, including in their shopping experiences.</p> <p>It’s also been shown that giving handmade gifts can <a href="https://link.springer.com/article/10.1007/s11002-024-09722-w">promote social relationships</a>.</p> <p>We often associated handmade products with smaller “cottage” retailers. But many major global retailers – including <a href="https://www.amazon.com/b?ie=UTF8&amp;node=120955898011">Amazon</a> and <a href="https://www.ikea.com/au/en/new/handcrafted-textiles-for-a-better-future-pub6fc26570/">IKEA</a> – have strategically introduced handmade products, aiming to connect on a deeper emotional level with their consumers.</p> <p>Our research found not all consumers respond in the same way to these marketing messages.</p> <figure><iframe src="https://www.youtube.com/embed/kYn-xUjv_qs?wmode=transparent&amp;start=0" width="440" height="260" frameborder="0" allowfullscreen="allowfullscreen"></iframe><figcaption><span class="caption">IKEA has previously run a dedicated handmade marketing campaign.</span></figcaption></figure> <h2>Who cares about love?</h2> <p>Across two studies, we found that the response to marketing products as “handmade” depends on a consumer’s locomotion orientation – put simply, how they approach decisions and other actions.</p> <p><a href="https://www.sciencedirect.com/science/article/abs/pii/S0022435917300155">Low-locomotion individuals</a> take things more slowly. They take their time and can thoroughly consider their purchase decisions. Think of them as the “mindful”.</p> <p>In contrast, high-locomotion individuals are “doers”. They like to get things done quickly without getting stuck in the details. They are the “grab-and-go” shopper.</p> <p>When the way they perform an action – such as making a purchase – matches their fast-paced mindset, something remarkable happens: they experience what’s called “<a href="https://myscp.onlinelibrary.wiley.com/doi/full/10.1002/jcpy.1317">regulatory fit</a>”.</p> <p>This fit boosts their emotions and engagement.</p> <h2>Our first study</h2> <p>In our first study, participants imagined buying a gift for a loved one. They were split into three groups and presented with a photo of the same mug.</p> <p>One group was informed that the mug was “handmade”, one group informed it was “machine-made”, and the last group was not offered any “production cue”.</p> <p>We also asked and measured how much “love” they felt the mug contained – and how much they would pay for it.</p> <p>The handmade mug evoked more love and led to a higher willingness to pay – but only for those with a “low-locomotion” orientation.</p> <p>High-locomotion individuals didn’t react in the same way. For these “doers”, the backstory of how the mug had been made wasn’t as important as just getting a product they needed.</p> <p>For the “doers”, the benefits of marketing the mug as handmade actually backfired.</p> <p>They felt more love for the mug if it had no label at all.</p> <h2>Our second study</h2> <p>By communicating with consumers on social media, marketers can trigger a mindset called “regulatory locomotion mode”. Put simply, this is the mode where we take action and make progress toward goals.</p> <p>Marketers can do this by using <a href="https://psycnet.apa.org/doiLanding?doi=10.1037%2F0022-3514.79.5.793">locomotion-activating</a> words such as “move” and “go” to encourage active decision-making.</p> <p>To borrow one famous example from Nike: “<a href="https://psycnet.apa.org/doiLanding?doi=10.1037%2F0022-3514.79.5.793">Just Do It</a>”.</p> <p>Our second study examined the marketer-generated content of over 9,000 Facebook posts from the verified <a href="https://www.facebook.com/Etsy">Etsy</a> Facebook page.</p> <p>We analysed how locomotion-activating words in social media posts for handmade products influence consumer engagement.</p> <p>In other words, we wanted to understand how these words affected social media engagement with the potential consumers reading them, particularly in terms of social media shares.</p> <p>We found the higher an individual’s locomotion orientation was, the fewer social media “shares” for handmade products occurred.</p> <h2>So, does handmade really matter?</h2> <p>As we get closer to Valentine’s Day, understanding these differences can help retailers tailor their marketing strategies.</p> <p>For “mindful” customers, retailers should highlight the story of the craftsmanship, care, and love behind a handmade product for Valentine’s Day. Use emotional language such as “made with love”.</p> <p>But be aware this mightn’t work on everyone. For a customer base of “doers”, keep it simple, leaving out unnecessary details about production methods.</p> <p>There are a range of <a href="https://marketingplatform.google.com/about/">website analytical tools</a> that can help retailers identify how their customers approach their purchase decision-making.</p> <p>Do they browse quickly, hopping from one product to the next, opting for “<a href="https://www.business.com/articles/one-click-purchasing-how-click-to-buy-is-revolutionizing-ecommerce/">one-click</a>” purchasing? Or do they take their time, browsing slowly and considering their product selection?</p> <p>Personalised marketing messages can then be crafted to emphasise the aspects – love or efficiency – that matter most to each group. The key lies in knowing who you’re speaking to.<!-- Below is The Conversation's page counter tag. Please DO NOT REMOVE. --><img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/247351/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /><!-- End of code. If you don't see any code above, please get new code from the Advanced tab after you click the republish button. The page counter does not collect any personal data. More info: https://theconversation.com/republishing-guidelines --></p> <p><a href="https://theconversation.com/profiles/tuba-degirmenci-2291455">T<em>uba Degirmenci</em></a><em>, PhD Candidate School of Advertising, Marketing and Public Relations, <a href="https://theconversation.com/institutions/queensland-university-of-technology-847">Queensland University of Technology</a>; <a href="https://theconversation.com/profiles/frank-mathmann-703900">Frank Mathmann</a>, Lecturer (Assistant Professor), <a href="https://theconversation.com/institutions/queensland-university-of-technology-847">Queensland University of Technology</a>, and <a href="https://theconversation.com/profiles/gary-mortimer-1322">Gary Mortimer</a>, Professor of Marketing and Consumer Behaviour, <a href="https://theconversation.com/institutions/queensland-university-of-technology-847">Queensland University of Technology</a></em></p> <p><em>Image credits: Shutterstock</em></p> <p><em>This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/does-made-with-love-sell-research-reveals-who-values-handmade-products-the-most-247351">original article</a>.</em></p> </div>

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Billionaire Adrian Portelli responds to $50k "McLaren Man" controversy

<p>Alex Cullen has returned the $50,000 that he received after taking on billionaire <a href="https://www.oversixty.com.au/finance/legal/nine-reporter-stood-down-over-controversial-50k-gift" target="_blank" rel="noopener">Adrian Portelli's challenge</a> of offering money to the first journalist to call him "McLaren Man" on-air, an act that has landed the <em>Today</em> show presenter in hot water. </p> <p>Cullen was stood down from the show, after dropping the moniker on-air during a live cross on Friday morning, with Channel Nine condemning his actions for breaching the  Media Entertainment and Arts Alliance Journalist Code of Ethics.</p> <p>“Nine is taking this matter extremely seriously," they said at the time.</p> <p>“Appropriate action has been promptly taken, including arranging for the funds to be returned. While we review the circumstances in which this occurred, Alex has agreed to stand down.”</p> <p>On Tuesday, Portelli revealed that he had chosen to donate the returned cash to two charities on behalf of Cullen. </p> <p>“Alex Cullen … on behalf of you, mate, $25,000 to the Salvation Army and $25,000 to the RSPCA,” Portelli wrote in a post to social media. </p> <blockquote class="instagram-media" style="background: #FFF; border: 0; border-radius: 3px; box-shadow: 0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width: 540px; min-width: 326px; padding: 0; width: calc(100% - 2px);" data-instgrm-captioned="" data-instgrm-permalink="https://www.instagram.com/p/DFEzS3QS4ib/?utm_source=ig_embed&amp;utm_campaign=loading" data-instgrm-version="14"> <div style="padding: 16px;"> <div style="display: flex; flex-direction: row; align-items: center;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 40px; margin-right: 14px; width: 40px;"> </div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 100px;"> </div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 60px;"> </div> </div> </div> <div style="padding: 19% 0;"> </div> <div style="display: block; height: 50px; margin: 0 auto 12px; width: 50px;"> </div> <div style="padding-top: 8px;"> <div style="color: #3897f0; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: 550; line-height: 18px;">View this post on Instagram</div> </div> <div style="padding: 12.5% 0;"> </div> <div style="display: flex; flex-direction: row; margin-bottom: 14px; align-items: center;"> <div> <div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(0px) translateY(7px);"> </div> <div style="background-color: #f4f4f4; height: 12.5px; transform: rotate(-45deg) translateX(3px) translateY(1px); width: 12.5px; flex-grow: 0; margin-right: 14px; margin-left: 2px;"> </div> <div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(9px) translateY(-18px);"> </div> </div> <div style="margin-left: 8px;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 20px; width: 20px;"> </div> <div style="width: 0; height: 0; border-top: 2px solid transparent; border-left: 6px solid #f4f4f4; border-bottom: 2px solid transparent; transform: translateX(16px) translateY(-4px) rotate(30deg);"> </div> </div> <div style="margin-left: auto;"> <div style="width: 0px; border-top: 8px solid #F4F4F4; border-right: 8px solid transparent; transform: translateY(16px);"> </div> <div style="background-color: #f4f4f4; flex-grow: 0; height: 12px; width: 16px; transform: translateY(-4px);"> </div> <div style="width: 0; height: 0; border-top: 8px solid #F4F4F4; border-left: 8px solid transparent; transform: translateY(-4px) translateX(8px);"> </div> </div> </div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center; margin-bottom: 24px;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 224px;"> </div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 144px;"> </div> </div> <p style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; line-height: 17px; margin-bottom: 0; margin-top: 8px; overflow: hidden; padding: 8px 0 7px; text-align: center; text-overflow: ellipsis; white-space: nowrap;"><a style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: normal; line-height: 17px; text-decoration: none;" href="https://www.instagram.com/p/DFEzS3QS4ib/?utm_source=ig_embed&amp;utm_campaign=loading" target="_blank" rel="noopener">A post shared by Adrian Portelli (@adrian_portelli)</a></p> </div> </blockquote> <p>He added that Cullen was "an absolute gentleman" and that he hoped Channel Nine would not fire him. </p> <p>“I’ve kept pretty quiet about what unfolded with Alex, but even before he’d heard from Ch9, we had a conversation where he expressed his desire to donate the money. That speaks volumes about his character.”</p> <p>Portelli then offered to work with Cullen in some capacity if he does end up losing his job. </p> <p>While Cullen has yet to comment on what happened, his Instagram has been flooded with messages of support from his fans. </p> <p>“Nine isn’t the same without you,” one person said.</p> <p>“I stand with you Alex — you are the best,” another wrote.</p> <p><em>Images: Instagram</em></p>

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Australian Open loser learns of "insane" pay day

<p>A lucky Australian Open loser has learned of her massive pay day on camera after being knocked out of the competition in Melbourne. </p> <p>Eva Lys, a 23-year-old tennis champion from Germany, had never been beyond the second round of a grand slam but made the most of her last-minute opportunity to join the main draw in Melbourne to secure three wins worth 240 ranking points. </p> <p>As well as her win, the young player secured a cash prize of $420,000. </p> <p>Lys enjoyed the “humbling” experience on Rod Laver Arena making it to Round 16, and was told by a member of the media of her big pay day. </p> <blockquote class="instagram-media" style="background: #FFF; border: 0; border-radius: 3px; box-shadow: 0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width: 540px; min-width: 326px; padding: 0; width: calc(100% - 2px);" data-instgrm-permalink="https://www.instagram.com/reel/DFD8WxNzHTW/?utm_source=ig_embed&amp;utm_campaign=loading" data-instgrm-version="14"> <div style="padding: 16px;"> <div style="display: flex; flex-direction: row; align-items: center;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 40px; margin-right: 14px; width: 40px;"> </div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 100px;"> </div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 60px;"> </div> </div> </div> <div style="padding: 19% 0;"> </div> <div style="display: block; height: 50px; margin: 0 auto 12px; width: 50px;"> </div> <div style="padding-top: 8px;"> <div style="color: #3897f0; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: 550; line-height: 18px;">View this post on Instagram</div> </div> <div style="padding: 12.5% 0;"> </div> <div style="display: flex; flex-direction: row; margin-bottom: 14px; align-items: center;"> <div> <div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(0px) translateY(7px);"> </div> <div style="background-color: #f4f4f4; height: 12.5px; transform: rotate(-45deg) translateX(3px) translateY(1px); width: 12.5px; flex-grow: 0; margin-right: 14px; margin-left: 2px;"> </div> <div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(9px) translateY(-18px);"> </div> </div> <div style="margin-left: 8px;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 20px; width: 20px;"> </div> <div style="width: 0; height: 0; border-top: 2px solid transparent; border-left: 6px solid #f4f4f4; border-bottom: 2px solid transparent; transform: translateX(16px) translateY(-4px) rotate(30deg);"> </div> </div> <div style="margin-left: auto;"> <div style="width: 0px; border-top: 8px solid #F4F4F4; border-right: 8px solid transparent; transform: translateY(16px);"> </div> <div style="background-color: #f4f4f4; flex-grow: 0; height: 12px; width: 16px; transform: translateY(-4px);"> </div> <div style="width: 0; height: 0; border-top: 8px solid #F4F4F4; border-left: 8px solid transparent; transform: translateY(-4px) translateX(8px);"> </div> </div> </div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center; margin-bottom: 24px;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 224px;"> </div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 144px;"> </div> </div> <p style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; line-height: 17px; margin-bottom: 0; margin-top: 8px; overflow: hidden; padding: 8px 0 7px; text-align: center; text-overflow: ellipsis; white-space: nowrap;"><a style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: normal; line-height: 17px; text-decoration: none;" href="https://www.instagram.com/reel/DFD8WxNzHTW/?utm_source=ig_embed&amp;utm_campaign=loading" target="_blank" rel="noopener">A post shared by Lachlan Wills (@lachlanwills1)</a></p> </div> </blockquote> <p>"I loved that one of the members of the media here said to her, off air, it's $420,000 and she had no idea," Grand Slam Daily host Chris Stubbs said on Stan Sport.</p> <p>"She hadn't even looked at the prize money. And her reaction!"</p> <p>Lys ended up being knocked out by Poland's Iga Swiatek, as Mark Petchey said on Grand Slam Daily, "You walk out there if you're Eva Lys and you're wondering what's going to happen. She's had a great tournament, but Iga's looking supreme, she's looking dominant."</p> <p>"And that's what the best players do. Yes, they compete, great, but they also dominate."</p> <p>Image credits: 7News</p>

Money & Banking

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Tradie fights "unfair" fine for parking across his own driveway

<p>A frustrated tradie is fighting an "unfair" fine he copped for parking in his own driveway.</p> <p>Mark Fricker, a builder from Newcastle, was photographed last September by a council camera when his ute was briefly stopped across his driveway with two wheels in the gutter of the bus zone that fronts his property.</p> <p>The man was only parked in the precarious spot for a few minutes to open the gate to his home. </p> <p>He only became aware of the alleged offence when he received a fine about 10 days later, with the penalty notice saying he was parked in a bus zone and was required to pay $320. </p> <p>The fine was generated by the council’s mobile licence plate recognition technology with cameras attached to council cars patrolling the city’s streets to monitor parking offences.</p> <p>Fricker told <a href="https://au.news.yahoo.com/tradie-fights-unfair-320-parking-fine-after-common-driveway-act-050252102.html" target="_blank" rel="noopener"><em>Yahoo News</em></a> the fine was ‘unfair’ and would not have been issued if a ranger was on the scene to see what was going on.</p> <p>While he attempted to take up the matter with his local council, he was referred back to Revenue NSW and felt he had no option but to contest the fine in court.</p> <p>“If it had been a person and not a car, they wouldn’t have issued the fine,” Fricker said.</p> <p>“I don’t feel an automated camera system is right. If a ranger had seen me park there, get out and open the gate, and move the car in, he wouldn’t have worried about it. He could see that I’m not a threat or danger to a bus, or passengers getting on or off, so it wouldn’t have happened."</p> <p>Fricker's dispute is just one of many to arise from the increased use of controversial ticketless parking fine systems used by councils across NSW.</p> <p>There was a 49 per cent surge in ticketless parking fines issued in NSW during the 2023-24 financial year, with revenue from ticketless fines surged to $158 million for that period, up 54 per cent on the previous year.</p> <p><em>Image credits: Newcastle Herald</em></p>

Money & Banking

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Superannuation is complicated. A guaranteed government income in retirement would be simpler

<div class="theconversation-article-body"><em><a href="https://theconversation.com/profiles/brendan-coates-154644">Brendan Coates</a>, <a href="https://theconversation.com/institutions/grattan-institute-1168">Grattan Institute</a> and <a href="https://theconversation.com/profiles/joey-moloney-1334959">Joey Moloney</a>, <a href="https://theconversation.com/institutions/grattan-institute-1168">Grattan Institute</a></em></p> <p>Having compulsory super should help create a comfortable and stress-free retirement. But Australia’s super system is too complex for retirees to navigate.</p> <p>This can leave them stressed and lacking the confidence to spend their super savings.</p> <p>Our latest report, <a href="https://grattan.edu.au/report/simpler-s%5Buper/">Simpler super: taking the stress out of retirement</a>, recommends the federal government offer all Australians a lifetime <a href="https://moneysmart.gov.au/retirement-income/annuities">annuity</a> - a financial product that pays a guaranteed income for the rest of their lives.</p> <p>This would help retirees stress less, spend more, and enjoy their retirement years.</p> <h2>Stress prompts many to underspend super</h2> <p>For the first time, many Australians are entering retirement with significant super balances: Australians are retiring with an average super balance of more than A$200,000, and couples with about $300,000.</p> <p><a href="https://grattan.edu.au/news/balancing-act/">Despite having saved enough to be comfortable</a>, four in five people say planning for retirement is complicated, and 60% don’t think their retirements will be financially stress-free.</p> <p>Few retirees draw down on their retirement savings as intended. In fact, many are actually net savers – their savings continue to grow for decades after they retire.</p> <p><a href="https://grattan.edu.au/report/simpler-super/">Our analysis</a> of the <a href="https://www.abs.gov.au/participate-survey/household-survey/survey-income-and-housing">ABS Survey of Income and Housing</a> shows for those aged 60-64 in 2003-04, average super balances had grown by 37% in real terms by the time they were aged 76-80 in 2019-20.</p> <p>And their average net wealth, which excludes the equity in their home, grew by 14% over the same period.</p> <p>Australia’s <a href="https://www.apra.gov.au/quarterly-superannuation-performance-statistics-highlights-september-2024">$4 trillion</a> compulsory superannuation system is turning into a massive inheritance scheme. That’s not how super was supposed to work.</p> <h2>Retirees are given too little guidance</h2> <p>The super system makes most big decisions for working Australians, such as how much to contribute or how it’s invested. But once we retire there is little guidance about how to use our funds.</p> <p>More than four in five retirees are steered into account-based pensions. But partly because they’re anxious not to outlive their savings, this group manages their spending very cautiously.</p> <p>While on average, an Australian woman aged 65 today can expect to live until 88, they also have a one-in-five chance of either dying before age 81 or of making it to 94.</p> <p>Half of those retirees who use an account-based pension draw their super at legislated minimum rates, which if followed, leave 65% of super balances unspent by average life expectancy.</p> <p>This widespread use of account-based pensions makes Australia a global outlier. Retirees in most rich countries are automatically given – or otherwise strongly encouraged to choose – <a href="https://www.oecd.org/en/publications/2023/12/pensions-at-a-glance-2023_4757bf20.html">an income guaranteed to last their entire lives</a>.</p> <p>Research suggests having an income that is guaranteed to last until death <a href="https://www.researchgate.net/profile/Keith-Bender/publication/23647866_What_Makes_Retirees_Happy/links/0046353578c678a403000000/What-Makes-Retirees-Happy.pdf">can reduce stress</a> and <a href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3875802">boost retirees’ spending</a>.</p> <h2>Government could steer retirees into annuities</h2> <p>Our report argues retirees should be encouraged to use 80% of their super balance above $250,000 to purchase an annuity.</p> <p>The government could embed this pre-set guidance throughout the retirement income system. It could be included in all relevant communications with retirees from super funds, and especially at the point of retirement.</p> <p><a href="https://researchportalplus.anu.edu.au/en/publications/default-and-naive-diversification-heuristics-in-annuity-choice">Research shows</a> that retirees tend to choose the option put in front of them.</p> <p>The remaining super balance – $250,000, plus the remaining 20% of any savings above that level – would continue to be drawn down via an account-based pension. Retirees would still have to access their super for large purchases if needed.</p> <p>Using some super to buy an annuity could boost expected retirement incomes by up to 25%, compared to solely drawing on an account-based pension at legislated minimum rates.</p> <p>And it would ensure that the bulk of retirees’ incomes, irrespective of their super balances, would be guaranteed to last the rest of their lives.</p> <hr /> <p><iframe id="TYMjG" class="tc-infographic-datawrapper" style="border: 0;" src="https://datawrapper.dwcdn.net/TYMjG/" width="100%" height="400px" frameborder="0" scrolling="no"></iframe></p> <hr /> <h2>Annuities should be provided by government, not super funds</h2> <p>But steering retirees into annuities offered via super funds is unlikely to work.</p> <p>Super funds <a href="https://www.superreview.com.au/news/superannuation/asfa-urges-against-cipr-longevity-component">have resisted</a> previous attempts by government to <a href="https://consult.treasury.gov.au/development-of-the-framework-for-comprehensive-income-products-for-retirement">require them to offer annuities to retirees</a>.</p> <p>Many people also struggle to understand and compare annuities. They often find it difficult to switch to a better deal later even if they can spot one.</p> <p>Recent <a href="https://www.fca.org.uk/publications/market-studies/retirement-income-market-study">experience in the UK</a> showed when required to purchase an annuity, most people simply took what their fund was offering and often got a poor deal.</p> <p>Designing a regulatory regime that overcomes these issues is a huge challenge. The best option, therefore, is for the government to directly offer annuities. It should offer all retirees a simple lifetime annuity as the baseline option.</p> <p>The government could also offer alternatives including investment-linked annuities, where payments are guaranteed for life, but payments could vary based on investment returns.</p> <p>Priced fairly, and managed by an independent agency, a government annuity would encourage there take-up. Retirees would be more confident that they’re getting a good deal.</p> <p>Annuity payments would be made from the pool of capital created by annuity purchases, with these investments managed by the Future Fund.</p> <p>Under reasonable assumptions we project the government annuity provider could be managing assets totalling 2.5% of GDP by 2040.</p> <p>Superannuation offers Australians the promise of a more comfortable and stress-free retirement. Government-offered annuities can help turn that dream into reality.</p> <p><em>Esther Suckling made substantial contributions to the research underpinning this article.</em><!-- Below is The Conversation's page counter tag. Please DO NOT REMOVE. --><img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/247383/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /><!-- End of code. If you don't see any code above, please get new code from the Advanced tab after you click the republish button. The page counter does not collect any personal data. More info: https://theconversation.com/republishing-guidelines --></p> <p><a href="https://theconversation.com/profiles/brendan-coates-154644"><em>Brendan Coates</em></a><em>, Program Director, Housing and Economic Security, <a href="https://theconversation.com/institutions/grattan-institute-1168">Grattan Institute</a> and <a href="https://theconversation.com/profiles/joey-moloney-1334959">Joey Moloney</a>, Deputy Program Director, Housing and Economic Security, <a href="https://theconversation.com/institutions/grattan-institute-1168">Grattan Institute</a></em></p> <p><em>Image credits: Shutterstock</em></p> <p><em>This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/superannuation-is-complicated-a-guaranteed-government-income-in-retirement-would-be-simpler-247383">original article</a>.</em></p> </div>

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Home ownership is slipping out of reach. It’s time to rethink our fear of ‘forever renting’

<div class="theconversation-article-body"> <p><em><a href="https://theconversation.com/profiles/dorina-pojani-413644">Dorina Pojani</a>, <a href="https://theconversation.com/institutions/the-university-of-queensland-805">The University of Queensland</a></em></p> <p>A wide range of voices in the Australian media have been <a href="https://www.theguardian.com/australia-news/2024/dec/05/share-with-parents-or-rent-forever-i-have-put-life-on-hold-while-trying-to-buy-a-house">sounding the alarm</a> about the phenomenon of “forever-renting”.</p> <p>This describes a situation in which individuals or families are <a href="https://www.abc.net.au/news/2024-08-10/young-people-priced-out-of-home-ownership/104202602">unable to transition</a> from renting to home ownership, due to rising property values and wages that can’t keep up.</p> <p>Forever-renting is often framed as a terrible condition that should be avoided at all costs – that renting is only acceptable in the short term, as an individual or family saves for a down-payment.</p> <p>The underlying implication is that the ultimate goal in life for just about every Australian should be to own a house – or at least a condominium unit.</p> <p>This only serves to stigmatise renters, who currently make up <a href="https://www.abs.gov.au/statistics/people/housing/housing-occupancy-and-costs/2019-20">nearly a third</a> of Australian households. Demographic research indicates <a href="https://www.jstor.org/stable/24639395">about 15% of Australia’s population</a> changes address every year. Many of these moves require rental accommodation.</p> <p>And, yes, millions of Australians will <a href="https://www.ahuri.edu.au/analysis/news/rising-proportion-forever-renters-requires-tax-and-policy-re-think">rent for their whole life</a>.</p> <p>Clearly, we need to change our thinking around renting to bring it into step with reality. We must accept that the proportion of renters may never go down – or may even increase – and that that’s not necessarily a bad thing.</p> <h2>Where did this attitude come from?</h2> <p>The Australian tradition of home ownership was established in the early decades of European settlement. To make what we now call the “Australian dream” happen, the continent had to be treated as a <em>tabula rasa</em>, or blank slate. A mass of Indigenous people were <a href="https://theconversation.com/refugees-in-their-own-land-how-indigenous-people-are-still-homeless-in-modern-australia-55183">dispossessed</a>.</p> <p>Migration to Australia offered impoverished Britons an opportunity to own a house and plenty of land. In the old country, in contrast, real estate ownership had been a privilege of the gentry. Postwar waves of immigrants from southern Europe and East Asia were also intent on home ownership.</p> <p>In a low-density nation with smallish cities and cheap land, owning a home made sense. Now, urban land is no longer cheap and our <a href="https://www.apimagazine.com.au/news/article/scale-of-urban-sprawl-in-australia-hurting-more-than-just-the-environment">cities have sprawled</a> beyond what’s sustainable.</p> <h2>Renting can have advantages</h2> <p>The first step towards rethinking renting as a norm is acknowledging it can have some significant and often overlooked advantages. For some, renting is a <a href="https://www.emerald.com/insight/content/doi/10.1108/09604521011027598/full/html">lifestyle preference</a>.</p> <p>Ownership comes with burdens such as house and garden maintenance. This makes renting much more convenient and carefree for some demographics, including young people and older adults.</p> <p>Another key advantage of renting is the <a href="https://www.google.com.au/books/edition/Homeownership_and_the_Labour_Market_in_E/GwoUDAAAQBAJ">employment flexibility</a> it can provide. Renters can look for work outside their commute range and are less tied to particular employers.</p> <p>There’s some evidence that high levels of home ownership could even damage the overall labour market.</p> <p>Previous <a href="https://www.nber.org/papers/w19079">research</a> by the US National Bureau of Economic Research has shown that increasing home ownership leads to less labour mobility, longer commutes, and fewer new businesses because homeowners are less likely to move.</p> <h2>Safe as houses?</h2> <p>One common argument against renting is that investing in your own home is a “safe bet”. But we perhaps need to rethink this unquestioned reliance on housing as a store of wealth. Those who enter the housing market for investment purposes should be aware of several issues.</p> <p>Over the long term, housing prices have historically shown a <a href="https://www.dpn.com.au/articles/house-price-growth-australia-over-30-years">general upward trajectory</a>, driven by population growth and limited land supply in desirable areas.</p> <p>In the short term, however, housing prices can be <a href="https://press.uchicago.edu/ucp/books/book/chicago/H/bo20832545.html">quite volatile</a>. They may move up, down, or stay the same. This depends on broader economic cycles, market conditions and interest rates.</p> <p>Think of the housing bubble in the United States, which led to a global recession in 2008, or the <a href="https://www.abc.net.au/news/2025-01-07/china-property-crash-a-warning-for-australian-housing-market/104788660">current downturn in China</a>.</p> <p>The cycles in property prices are often worsened by <a href="https://www.jstor.org/stable/1914185">psychological biases</a> that can lead to overoptimism during booms or panic during busts. Investors may win or lose.</p> <h2>Compounded by climate change</h2> <p>In the contemporary era, we also need to factor in climate change. Areas that are currently desirable may become unappealing before too long – due to <a href="https://www.climatecouncil.org.au/resources/how-hot-will-your-neighbourhood-be-by-2050/">heatwaves</a>, <a href="https://theconversation.com/one-of-the-most-extreme-disasters-in-colonial-australian-history-climate-scientists-on-the-floods-and-our-future-risk-178153">floods</a> or <a href="https://theconversation.com/la-is-on-fire-how-will-australia-cope-when-bushfires-hit-sydney-melbourne-or-another-major-city-246967">fires</a>.</p> <p>Natural disasters, or even just growing disaster risks, can prompt large drops in property prices and massive population movements.</p> <p>To illustrate: during the pandemic, South East Queensland began to draw many domestic migrants as other states struggled to contain the virus.</p> <p>People from cooler southern states were also attracted by the region’s mild winter climate. In 2024, Brisbane became Australia’s <a href="https://www.realestate.com.au/news/uneven-price-growth-reshuffles-rankings-of-australias-most-expensive-cities/">second-most expensive</a> city for property values.</p> <p>That might appear to bode well for property buyers who’ve invested millions of dollars. But one <a href="https://rmets.onlinelibrary.wiley.com/doi/abs/10.1002/joc.5998">2019 study</a> has predicted that temperature rises could make Brisbane “<a href="https://www.abc.net.au/news/2019-06-22/temperature-increases-from-climate-change-brisbane-unliveable/11227404">unbearably hot</a>” by 2050.</p> <p>In this context, renters may be more adaptable than owners.</p> <h2>A more renter-friendly Australia</h2> <p>None of this is to argue that everyone should be a renter, or that renters should be left to the whims of the market.</p> <p>In Australia, current rent increases are <a href="https://www.abs.gov.au/statistics/economy/price-indexes-and-inflation/consumer-price-index-australia/latest-release">outpacing</a> both wage growth and inflation (CPI). The rental affordability crisis has driven a <a href="https://homelessnessaustralia.org.au/rough-sleeping-surges-as-homelessness-crisis-worsens-new-report/">recent surge</a> in homelessness.</p> <p>There is a wide range of policy tools available to us, many of which have been shown to <a href="https://www.abc.net.au/news/2024-10-16/build-to-rent-fix-housing-crisis-australia-us-uk-hong-kong/104458458">work relatively well in other countries</a> and could be adopted here.</p> <p>These include:</p> <ul> <li> <p><a href="https://thefifthestate.com.au/housing-2/the-case-for-rent-control-and-historical-norms-in-rent-increases/">rent caps</a>, which tie allowable rent increases to the CPI (Australia already <a href="https://treasury.gov.au/sites/default/files/2019-03/round5-5.pdf">regulates the price of utilities</a> in this way)</p> </li> <li> <p>nationwide no-ground eviction bans (already in place in <a href="https://www.choice.com.au/money/property/renting/articles/no-grounds-evictions-update">some states</a>)</p> </li> <li> <p>normalisation of <a href="https://www.abc.net.au/news/2021-06-28/how-to-find-a-long-term-rental-home/100217074">long-term leases</a> beyond 12 months and restrictions on <a href="https://cities-today.com/barcelona-set-to-ban-short-term-rentals/">short-term rentals such as Airbnb</a></p> </li> </ul> <p>More vulnerable renters, including people with disabilities, single parents, victims of domestic abuse, those on low incomes, and older retirees, need extra protections.</p> <p>The supply of rental units should also be increased, through <a href="https://www.ahuri.edu.au/analysis/brief/what-build-rent">build-to-rent</a> and <a href="https://www.statedevelopment.qld.gov.au/news-and-events/granny-flats-provide-housing-choice-in-tight-rental-market">granny flat</a> construction, for example.</p> <p>Landlords should not be vilified either. In an unregulated market, they are often cast as “<a href="https://www.realestate.com.au/news/robber-barons-great-landlord-myth-exposed/">robber barons</a>” and “<a href="https://www.theguardian.com/commentisfree/2018/apr/16/landlords-social-parasites-last-people-should-be-honouring-buy-to-let">social parasites</a>”.</p> <p>If tenants were protected from excessive rent increases and evictions, landlordism could also be recast as an essential service that yields <em>reasonable</em> profits to providers.<!-- Below is The Conversation's page counter tag. Please DO NOT REMOVE. --><img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/245848/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /><!-- End of code. If you don't see any code above, please get new code from the Advanced tab after you click the republish button. The page counter does not collect any personal data. More info: https://theconversation.com/republishing-guidelines --></p> <p><em><a href="https://theconversation.com/profiles/dorina-pojani-413644">Dorina Pojani</a>, Associate Professor in Urban Planning, <a href="https://theconversation.com/institutions/the-university-of-queensland-805">The University of Queensland</a></em></p> <p><em>Image credits: Shutterstock </em></p> <p><em>This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/home-ownership-is-slipping-out-of-reach-its-time-to-rethink-our-fear-of-forever-renting-245848">original article</a>.</em></p> </div>

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“That is a real hustler!”: Retiree's savings stun Aussies

<p>An 84-year-old retiree has stunned Aussies after revealing just how much money he has saved. </p> <p>As part of property app Copoist's latest social media series, where they ask people of all ages how much they have in savings, one senior revealed that he had $2.3 million in savings "at the moment". </p> <p>While he didn't go into detail about how he amassed his wealth or whether he owns multiple properties, people online were blown away by his savings. </p> <p>“This is crazy! Who has the means to save?” One asked.</p> <p>"Must be nice", another commented. </p> <p>"That is a real hustler!" a third complimented. </p> <p>However, the video also highlighted the huge wealth divide, especially among men and women, with one 73-year-old woman revealing that she had  over $100,000. </p> <p>Another 75-year-old woman said she had had over $70,000, and a 64-year-old said she had $61,000, while another man around the same age as them had $2 million saved up.</p> <p> </p> <div class="embed" style="box-sizing: inherit; margin: 0px; padding: 0px; border: 0px; font-size: 16px; vertical-align: baseline; outline: none !important;"><iframe class="embedly-embed" style="box-sizing: inherit; margin: 0px; padding: 0px; border: 0px; font-size: 16px; vertical-align: baseline; outline: none !important; width: 535px;" title="tiktok embed" src="https://cdn.embedly.com/widgets/media.html?src=https%3A%2F%2Fwww.tiktok.com%2Fembed%2Fv2%2F7458541912367189254&amp;display_name=tiktok&amp;url=https%3A%2F%2Fwww.tiktok.com%2F%40coposit_street%2Fvideo%2F7458541912367189254&amp;image=https%3A%2F%2Fp16-sign-va.tiktokcdn.com%2Fobj%2Ftos-maliva-p-85c255%2FoMB0ABiGEwgQrCMnqhJFEBSgIBjfmpeEIQDIwT%3Flk3s%3Db59d6b55%26x-expires%3D1737151200%26x-signature%3DczaQ96WizT%252FTVSaqXDyvNBgw7to%253D%26shp%3Db59d6b55%26shcp%3D-&amp;type=text%2Fhtml&amp;schema=tiktok" width="340" height="700" frameborder="0" scrolling="no" allowfullscreen="allowfullscreen"></iframe></div> <p>The savings disparity in the clip sparked a huge online conversation, with one writing: “How come men have millions and women cannot even have half a million? Mind blowing." </p> <p>“My first thought was okay so all the men have more savings than woman funny that. If life has shown me anything, it is that women take 10 years off raising their children, so his saving is hers,” another added. </p> <p>“It is all the men with a lot more,” a third pointed out.</p> <p>Financial comparison website Finder has found that generally still have more money than women in Australia, with the average woman having $42,664 in cash savings, compared to $50,479 for men.</p> <p>Finder’s Equal Pay Day Report 2024 found the main hurdles to women’s earning capacity have been having a baby, choosing a flexible job that allows them to take care of family, and the industry or career that they are in. </p> <p>They also found that the average Aussie had $40,000 in savings in December 2024, but 43 per cent of people had less than $1,000.</p> <p><em>Image: TikTok/coposit_street</em></p>

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Woolies shopper shocked by 15-year-old grocery receipt

<p>A Woolworths shopper has been left stunned after unearthing a 15-year-old grocery receipt and comparing what the same order would cost today. </p> <p>Amy Coulston took to TikTok after finding her mum's grocery receipt from January 14th 2010 and decided to do a comparison to 2025 supermarket prices. </p> <p>"It's been 15 years since this shopping trip and I wanted to see the difference in price from then and now," she said.</p> <p>"I added in as much as I possibly could (but) there's brands on here that just don't exist anymore."</p> <p>The overall price for 30 items, which included chicken pies, salami, cereal and a DVD of the Pixar animated film <em>Up</em>, came to $127.26 in 2010.</p> <p>She looked for all the same items, or close comparisons, on the Woolworths website and the January 2025 bill came to $170.45.</p> <blockquote class="instagram-media" style="background: #FFF; border: 0; border-radius: 3px; box-shadow: 0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width: 540px; min-width: 326px; padding: 0; width: calc(100% - 2px);" data-instgrm-permalink="https://www.instagram.com/reel/DEopeK3yGWq/?utm_source=ig_embed&utm_campaign=loading" data-instgrm-version="14"> <div style="padding: 16px;"> <div style="display: flex; flex-direction: row; align-items: center;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 40px; margin-right: 14px; width: 40px;"> </div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 100px;"> </div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 60px;"> </div> </div> </div> <div style="padding: 19% 0;"> </div> <div style="display: block; height: 50px; margin: 0 auto 12px; width: 50px;"> </div> <div style="padding-top: 8px;"> <div style="color: #3897f0; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: 550; line-height: 18px;">View this post on Instagram</div> </div> <div style="padding: 12.5% 0;"> </div> <div style="display: flex; flex-direction: row; margin-bottom: 14px; align-items: center;"> <div> <div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(0px) translateY(7px);"> </div> <div style="background-color: #f4f4f4; height: 12.5px; transform: rotate(-45deg) translateX(3px) translateY(1px); width: 12.5px; flex-grow: 0; margin-right: 14px; margin-left: 2px;"> </div> <div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(9px) translateY(-18px);"> </div> </div> <div style="margin-left: 8px;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 20px; width: 20px;"> </div> <div style="width: 0; height: 0; border-top: 2px solid transparent; border-left: 6px solid #f4f4f4; border-bottom: 2px solid transparent; transform: translateX(16px) translateY(-4px) rotate(30deg);"> </div> </div> <div style="margin-left: auto;"> <div style="width: 0px; border-top: 8px solid #F4F4F4; border-right: 8px solid transparent; transform: translateY(16px);"> </div> <div style="background-color: #f4f4f4; flex-grow: 0; height: 12px; width: 16px; transform: translateY(-4px);"> </div> <div style="width: 0; height: 0; border-top: 8px solid #F4F4F4; border-left: 8px solid transparent; transform: translateY(-4px) translateX(8px);"> </div> </div> </div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center; margin-bottom: 24px;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 224px;"> </div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 144px;"> </div> </div> <p style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; line-height: 17px; margin-bottom: 0; margin-top: 8px; overflow: hidden; padding: 8px 0 7px; text-align: center; text-overflow: ellipsis; white-space: nowrap;"><a style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: normal; line-height: 17px; text-decoration: none;" href="https://www.instagram.com/reel/DEopeK3yGWq/?utm_source=ig_embed&utm_campaign=loading" target="_blank" rel="noopener">A post shared by Amy │ Aussie Side Hustles 📲 (@amycoul.money)</a></p> </div> </blockquote> <p>"That's an increase of 35 per cent," Ms Coulston said.</p> <p>While many people took to her comment section to say the price comparison wasn't as significant as they thought it would be, others took another factor into consideration. </p> <p>"A 35 per cent (increase) over (that) period isn't actually that bad. It's the fact that the product is shrinking as the price goes up," they wrote.</p> <p>While Ms Coulston did not claim that all, or even most, of the products had shrunk in size over time, she did mention one popular treat in particular. </p> <p>"There's definitely a lot of discrepancies on here when it comes to things getting smaller, so for example, the Turkish Delights were 55 grams and now they're 50 grams," she said.</p> <p>One commenter spoke for many, though, in pointing out a glaring detail in the most recent shop.</p> <p>"It doesn't seem like a big increase over that period of time. The majority of the increase was over the last two years!" they wrote. "Like cheese prices didn't gradually increase, they just jumped from 6 dollars to 10 dollars overnight."</p> <p><em>Image credits: Woolworths / TikTok</em></p>

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Research suggests those who use buy-now-pay-later services end up spending more

<div class="theconversation-article-body"><em><a href="https://theconversation.com/profiles/ashish-kumar-1056067">Ashish Kumar</a>, <a href="https://theconversation.com/institutions/rmit-university-1063">RMIT University</a></em></p> <p>Once, borrowing money to make a purchase was a relatively tedious process, not a spur-of-the-moment thing.</p> <p>True, some stores offered lay-by plans that would let you pay for goods in instalments. But if they didn’t, and you didn’t already have a credit card, you’d have to go to a bank and apply for one.</p> <p>That would mean providing a range of supporting documents, negotiating an appropriate credit limit, and waiting for approval. It’s unlikely you’d apply for credit just for a single, small purchase.</p> <p>In recent years, though, the financial technology or “fintech” revolution in the customer credit market has changed all that, with the meteoric rise of buy-now-pay-later (BNPL) services.</p> <p>BNPL credit allows consumers to split their purchases into smaller, interest-free instalments. It is often directly integrated into online checkouts with fast approval, making it easy to purchase something instantly and spread the cost over coming months.</p> <p>There are some obvious risks. Many BNPL providers charge less visible fees, such as late payment fees and account maintenance fees. In many countries, the BNPL sector is also less regulated than traditional credit.</p> <p>But does it also change our spending habits? Our recent <a href="https://doi.org/10.1016/j.jretai.2024.09.004">research</a> uncovered a concerning insight: consumers who use BNPL services end up spending more money online than those who don’t. This effect is particularly strong among younger shoppers and those with lower incomes.</p> <h2>Our research</h2> <p>We <a href="https://doi.org/10.1016/j.jretai.2024.09.004">analysed</a> data from an online retailer in the Nordic region that offered customers three payment options for online purchases: card, pay on delivery and BNPL.</p> <p>We found that consumers who used BNPL spent an average of 6.42% more than those who didn’t.</p> <p>This increase was particularly noticeable for low-ticket items, suggesting that BNPL may encourage customers to buy more when shopping for smaller, everyday things.</p> <p>Why might this be the case? For one, BPNL spending is constrained by the size of the loans on offer. In the US, the average BNPL loan amount is <a href="https://files.consumerfinance.gov/f/documents/cfpb_consumer-use-of-buy-now-pay-later_2023-03.pdf">US$135</a> (A$217).</p> <p>It may also be related to what’s known in economics as the “<a href="https://www.theguardian.com/business/2008/dec/22/recession-cosmetics-lipstick">lipstick effect</a>”, where customers under financial strain tend to reduce spending on big-ticket items in favour of lower-priced luxuries.</p> <p>Selling such low-ticket items doesn’t always give online retailers the biggest profit margins. But it can play a crucial role in acquiring and retaining customers, and creating opportunities to upsell.</p> <p>Our research also showed that younger, lower-income customers were more likely to spend more when using BNPL services, likely because it provides them with additional “liquidity” – access to cash.</p> <h2>Why might they be spending more?</h2> <p>It’s easy to see why so many consumers like BNPL. Some even think of it as more of a way of payment than a form of credit.</p> <p>The core feature of such services - offering interest-free instalment payments for online purchases - has a significant psychological impact on customers.</p> <p>It leverages the principle that the perceived benefit of spending in the present outweighs the displeasure associated with future payments.</p> <p>This behaviour aligns with theories of “hyperbolic discounting” – our preference for smaller immediate rewards over larger later ones – and the related “<a href="https://www.behavioraleconomics.com/resources/mini-encyclopedia-of-be/present-bias/">present bias</a>” phenomenon.</p> <p>Our results also suggest customers with high category experience – that is, more familiar with the larger product categories carried by a retailer – and those more sensitive to deals and promotions are likely to spend more when online retailers provide BNPL as a payment option.</p> <h2>A growing influence on spending</h2> <p>The economic impact of BNPL is substantial in the countries that have pioneered its adoption.</p> <p>In Australia, birthplace of Afterpay, Zip, Openpay, and Latitude, it’s <a href="https://www.oxfordeconomics.com/wp-content/uploads/2022/10/AFIA_BNPL_Research_Report-1.pdf">estimated</a> that (allowing for flow-on effects) BNPL services contributed A$14.3 billion to gross domestic product (GDP) in the 2021 financial year.</p> <p>Industry research firm Juniper Research <a href="https://www.juniperresearch.com/press/pressreleasesbuy-now-pay-later-users-to-exceed-670-million-globally/">projects</a> the number of BNPL users will exceed 670 million globally by 2028, an increase of more than 100% on current levels.</p> <p>Substantial projected growth in the sector is attributed to multiple factors. These include increasing e-commerce usage, economic pressures, the flexibility of payment options and widespread adoption by merchants.</p> <h2>Buyer, beware</h2> <p>BNPL services can be a convenient way to pay for online purchases. But it’s important to use them responsibly.</p> <p>That means understanding the potential risks and benefits to make your own informed decisions. Be mindful of your spending. Don’t let the allure of easy payments let you get carried away.</p> <p>Customers should explore beyond the marketing tactics of interest-free split payments and pay close attention to terms and conditions, including any fees and penalties. They should treat BNPL like any other form of credit.</p> <p>Whether you’re a shopper considering using BNPL or a business thinking about offering it, our research highlights that it may have the power to significantly influence spending patterns – for better or worse.<!-- Below is The Conversation's page counter tag. Please DO NOT REMOVE. --><img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/246686/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /><!-- End of code. If you don't see any code above, please get new code from the Advanced tab after you click the republish button. The page counter does not collect any personal data. More info: https://theconversation.com/republishing-guidelines --></p> <p><a href="https://theconversation.com/profiles/ashish-kumar-1056067"><em>Ashish Kumar</em></a><em>, Senior Lecturer, <a href="https://theconversation.com/institutions/rmit-university-1063">RMIT University</a></em></p> <p><em>Image credits: Shutterstock </em></p> <p><em>This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/research-suggests-those-who-use-buy-now-pay-later-services-end-up-spending-more-246686">original article</a>.</em></p> </div>

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Why the royal family is set to receive an eye-watering pay increase

<p>The members of the British royal family are set to receive a record-breaking pay increase, funded by British taxpayers. </p> <p>From April 2025, the amount the royals will receive from the Sovereign Grant - funded by the UK’s public purse – will jump by a whopping £45 million (A$88 million), to £132 million ($260 million).</p> <p>Not everyone is happy about this enormous pay increase, as CEO of Republic Graham Smith said that while the UK remains in the clutches of the cost of living crisis, it is not the time for such a hefty increase to one of the richest families in the world. </p> <p>“This is public money, all of this money comes from the government, at a time when the government is not able to properly fund schools, hospitals police … It is scandalous,” Smith told <em><a href="https://www.townandcountrymag.com/society/tradition/a63330811/british-royal-family-money-finances-2025/" target="_blank" rel="noopener">Town &amp; Country</a></em>.</p> <p>“Not only should it not be going up at all, it should be going down.”</p> <p>The increase was first announced last year, with Buckingham Palace officials saying at the time that a huge chunk of that extra cash will be put towards the £369 million ($728 million) bill for long-planned, necessary Palace renovations.</p> <p>The exact amount that is being allocated from this year’s Grant for the work has not been made public.</p> <p>The Grant was established in 2012 in order to help the royal family pay for expenses related to their official duties, with the vast majority usually spent on property maintenance and staffing.</p> <p>When the Grant first came into effect, there were many more working royals which required a larger pool of funding. </p> <p>Now that the royal roster has been stripped back, royal author Richard Palmer believes the public is now “getting less for their money”.</p> <p>He told <em>Town &amp; Country</em>, “I do think that the monarchy in general does a good job for the country and is part of the glue that binds us all together but that doesn’t mean that as an institution, as individuals, they should be able to avoid criticism. They are not above scrutiny.”</p> <p><em>Image credits: Shutterstock </em></p>

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Aussie drivers urged to cash in on $140 million in unclaimed funds

<p>The NSW government has urged Sydney motorists to access its toll road relief scheme, with $140 million left unclaimed since the cost-of-living support measure was introduced last year. </p> <p>Drivers who spend more than $60 in tolls weekly can claim the excess back under the "toll cap" introduced by the Minns government to help highly-tolled residents in Western Sydney. </p> <p>On Monday, Roads Minister John Graham said that while $75 million had already been paid to motorists, there's still $140 million yet to be claimed. </p> <p>“I want to remind motorists to get on to the Service NSW website and claim what they are entitled to in relief,” Graham said in a statement.</p> <p>Around 720,000 drivers are eligible for a slice of the payments. </p> <p>Over the past year, more than 276,000 claims were paid since the scheme was introduced, with an average claim of $277, according to the government. </p> <p>There were 115 suburbs where the average claim was $300 or more, including Parramatta, Lidcombe, Schofields, Westmead, Toongabbie, Merrylands and Auburn.</p> <p>“We know people are doing it tough and the toll cap is making it just that little bit fairer for drivers that heavily rely on the toll roads,” Graham said. </p> <p>He also added that reform talks with private toll road companies are still ongoing. </p> <p>In December, the government struck an in-principle deal with Transurban, a toll road operator, for a network-wide pricing system in attempt to ease the impact of toll payments on motorists. </p> <p>“The NSW government is progressing with toll reform to make tolls fairer overall,” Graham said on Monday. </p> <p><em>Image: Rose Marinelli / Shutterstock.com</em></p>

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Meet the grandparents giving a unique gift to their grandkids for Christmas

<p>The Wallis family are one of many who are steering away from traditional Christmas presents for their grandchildren. </p> <p>Instead of standard presents, Grandpa John and Grandma Chris have found a way to invest in their grandchildren to make a difference in their future. </p> <p>"These days kids have got so much they don't really need a lot more stuff," John Wallis told <a href="https://www.9news.com.au/national/the-grandparents-giving-investments-instead-of-presents-this-year/8c4307f7-0ee3-45d2-acfa-50814d18abde" target="_blank" rel="noopener"><em>9News</em></a>. </p> <p>Instead of buying gifts for their grandkids, the Wallis' give something to their offspring all year round. </p> <p>"We give a monthly donor a contribution, so $25 each to the six grandchildren each month, and then the fund gets topped up occasionally by uncles and aunts."</p> <p>This kind of unique investment is part of a growing trend for baby boomers to help them invest in their grandchildren's futures.</p> <p>"We are seeing a real rise in those over 60 years, about 25 per cent increase in Australians over 60 opening a kids account," a spokesperson for Vanguard Australia said.</p> <p>Vanguard isn't the only platform, with many banks offering trust accounts for minors, with other portfolios designed for children include online adviser Stockspot and micro-investing platform Raiz.</p> <p>"Even if it was $10 or $15 a month, putting money aside adds up," Chris Wallis said.</p> <p><em>Image credits: Nine </em></p>

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Many people don’t get financial advice even though it can help ensure a comfortable retirement

<div class="theconversation-article-body"><em><a href="https://theconversation.com/profiles/antonia-settle-1019551">Antonia Settle</a>, <a href="https://theconversation.com/institutions/monash-university-1065">Monash University</a></em></p> <p>Many Australians, particularly those on lower incomes, are often characterised as <a href="https://www.mpmwm.com.au/latest-news/50475">lacking knowledge or interest</a> in superannuation.</p> <p><a href="https://www.superannuation.asn.au/wp-content/uploads/2024/09/Research-Note-Survey-on-superannuation-and-retirement-Advice-Sept-2024.pdf#_msdynmkt_linkid=48e751d5-debe-4eb2-9309-4bc96b01930a">Research</a> by the Association of Superannuation Funds of Australia (ASFA) confirms this.</p> <p>It found only 51% have sought any sort of financial advice before retiring.</p> <p>Financial advice plays a critical role in helping people maximise their super. But most of us don’t seek professional guidance.</p> <p>To make matters worse, <a href="https://www.theaustralian.com.au/business/wealth/retirement-and-superannuation-questions-not-being-asked/news-story/cc2142c3b32c706ea6ff1dc99dab62a5">superannuation experts</a> say those with small amounts of super are the least likely to seek it.</p> <h2>Financial literacy</h2> <p>The failure of households to approach super like experienced asset managers is often attributed to <a href="https://treasury.gov.au/sites/default/files/2021-02/p2020-100554-ud00b_key_obs.pdf">poor financial literacy</a>.</p> <p>Better <a href="https://www.investopedia.com/terms/f/financial-literacy.asp#:%7E:text=%25%2025%25%200%25-,What%20Is%20Financial%20Literacy%3F,management%2C%20budgeting%2C%20and%20investing.">knowledge</a>, it is often reasoned, would help lower income households make financially savvy decisions. This would help give them a better chance of achieving a comfortable retirement.</p> <p>Getting professional advice about managing retirement savings is a first step towards knowing what you don’t know. Learning to trust independent advice can optimise risk and returns, even if those decisions conflict with our instincts.</p> <p>ASFA <a href="https://www.superannuation.asn.au/wp-content/uploads/2024/09/Research-Note-Survey-on-superannuation-and-retirement-Advice-Sept-2024.pdf#_msdynmkt_linkid=48e751d5-debe-4eb2-9309-4bc96b01930a">research</a> found while trust in super funds was relatively high, only 12% sought information or advice from the funds.</p> <h2>Career interruptions</h2> <p>Some households might have little superannuation because their hourly wages are low and they have long breaks from the workforce. This might be due to raising children, personal illness or caring for others.</p> <p>Instead of being able to rely on public healthcare or pay others to provide this support, they are required to reduce or abandon paid work to do it themselves. This group consists overwhelmingly of <a href="https://www.wgea.gov.au/publications/superannuation-gender-pay-gaps-by-age-group">women</a></p> <p>They are also unlikely to have benefited from high employer contribution rates, such as those of <a href="https://www.csc.gov.au/Members/Funds-and-products/PSSap">federal public servants</a> or university employees, who have long earned a standard 17%.</p> <h2>Tax and other benefits</h2> <p>Low balance households are also unlikely to have paid large sums into super to avoid income tax. <a href="https://www.apra.gov.au/news-and-publications/apra-releases-superannuation-statistics-for-june-2024">One in every four dollars</a> contributed to super is deposited as voluntary contributions, which attract a low tax rate.</p> <p>But most of these low tax contributions are made by <a href="https://australiainstitute.org.au/wp-content/uploads/2024/06/P1527-Who-benefits-The-high-cost-of-super-tax-concessions-Web-1.pdf">the 20%</a> with the highest incomes.</p> <p>In fact, with <a href="https://povertyandinequality.acoss.org.au/inequality/">70% of superannuation assets owned by the wealthiest 20% of households</a>, low balance households have relatively little to gain.</p> <p>Research shows those with the <a href="https://melbourneinstitute.unimelb.edu.au/__data/assets/pdf_file/0008/4630688/ri2023n03.pdf">lowest balances</a> believe superannuation is a largely a tool for high income earners to avoid tax.</p> <p>And while financial advice will always be more useful to those who are able to use <a href="https://www.commbank.com.au/articles/tax/five-ways-to-save-tax-using-superannuation.html">super as a tax minimisation strategy</a>, even for low-balance households – getting financial advice is worthwhile.</p> <p>Financial advice can help households choose investments that optimise the risk/return profile of superannuation at each stage of the life cycle.</p> <p>It can help avoid unnecessary fees and taxes and help people make the best decisions about <a href="https://www.investopedia.com/terms/d/drawdown.asp#:%7E:text=A%20drawdown%20in%20retirement%20is,known%20as%20a%20drawdown%20percentage.">spending in retirement</a> so they can get the most out of their super.</p> <h2>Potential sticking points</h2> <p>The <a href="https://www.royalcommission.gov.au/banking#:%7E:text=The%20Royal%20Commission%20into%20Misconduct,into%20misconduct%20in%20the%20banking%2C">2017 royal commission</a> into banking and finance misconduct revealed major conflicts of interest in the advice sector. This only made some people more wary about trusting a stranger with their life savings.</p> <p>At between $4,000 and $12,000 for a <a href="https://www.moneymag.com.au/financial-planning/learning/how-much-does-financial-advice-cost">personal financial plan</a>, independent financial advice is not cheap. There is free counselling to manage debts but there is no free, independent advice for longer-term financial planning.</p> <p>Recent <a href="https://ministers.treasury.gov.au/ministers/stephen-jones-2022/media-releases/government-unveils-comprehensive-financial-advice">regulatory efforts</a> to better position superannuation funds to provide free financial advice to households will improve access for many.</p> <p>But these efforts won’t resolve the conflict of interest issue, given there is little incentive for funds to suggest investment strategies using other providers. This is particularly important during the <a href="https://www.ato.gov.au/individuals-and-families/super-for-individuals-and-families/super/withdrawing-and-using-your-super/retirement-withdrawal-lump-sum-or-income-stream">draw down phase</a>.</p> <p>This is where people start using their super which they receive as either a lump sum or income stream. The products offered by any single super fund to set this up are limited.</p> <p>Superannuation balances can be seriously eroded by <a href="https://www.ato.gov.au/calculators-and-tools/super-yoursuper-comparison-tool">unnecessary fees</a>, inappropriate investments and poorly planned <a href="https://www.superguide.com.au/in-retirement/minimum-pension-payments-reduced">draw down</a> strategies. This is particularly damaging when low balances are involved.</p> <h2>Facing poverty in retirement</h2> <p>As a result, failure to seek financial advice can increase the risk of elderly poverty, especially if people retire without having bought or paid off a home.</p> <p>Any savings that can be preserved can make a meaningful difference to the capacity of such households to have a dignified retirement.</p> <p>For these reasons, access to free and independent advice is critically important for the superannuation system to better serve low-balance households. But free, independent advice is still not available in the superannuation system.</p> <p>It is not surprising low-balance households are reticent to engage in super given the lack of accessible advice. But the peripheral role of low-balance households in a system dominated by Australia’s wealthiest households may play a role in that reticence as well.<!-- Below is The Conversation's page counter tag. Please DO NOT REMOVE. --><img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/240207/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /><!-- End of code. If you don't see any code above, please get new code from the Advanced tab after you click the republish button. The page counter does not collect any personal data. More info: https://theconversation.com/republishing-guidelines --></p> <p><a href="https://theconversation.com/profiles/antonia-settle-1019551"><em>Antonia Settle</em></a><em>, Lecturer, <a href="https://theconversation.com/institutions/monash-university-1065">Monash University</a></em></p> <p><em>Image credits: Shutterstock </em></p> <p><em>This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/many-people-dont-get-financial-advice-even-though-it-can-help-ensure-a-comfortable-retirement-240207">original article</a>.</em></p> </div>

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Ash Barty loses high-profile Optus job

<p>Ash Barty has lost her job as Optus' Chief of inspiration. </p> <p>The Grand Slam tennis champion signed on with the telecommunications company as one of their ambassadors in September 2022, just months after announcing her retirement from tennis. </p> <p>“The decision was taken as we looked to rebuild customer trust and focus on the fundamentals that we know are important to them – a resilient network, great value products and services, and simple, efficient customer service,” an Optus spokesperson told the Australian Financial Review.</p> <p>The telecommunications giant quietly made the move this year, and also parted ways with ex-F1 star Daniel Ricciardo, who was their Chief of Optimism. </p> <p>The role included fronting several campaigns for the brand and featuring in viral stunts. </p> <p>Both stars have updated their LinkedIn accounts to reflect their departure from the jobs. </p> <p>Barty had the role for two years, while Ricciardo was appointed as the Chief of Optimism in September 2020. </p> <p>The Australian Financial Review’s Myriam Robin described Optus’ move as a “one-two kick in the guts for Daniel”, who was cut by Red Bull’s junior team VCARB earlier this year.</p> <p>Optus' move away from Barty and Ricciardo comes after the company's former chief executive Kelly Bayer Rosmarin was replaced by Stephen Rue in September.</p> <p>While Barty lost her job at the telecommunications company, she is still listed as the Women's Tennis Association's National Indigenous Tennis Ambassador on LinkedIn. </p> <p>Since her retirement from tennis at the peak of her career, she has worked as a commentator for Stan during the Paris Olympics, released a series of children's books as part of her <em>Little Ash</em> series, and a tennis-themed book for kids called <em>Tennis Camp Diaries</em>. </p> <p><em>Image: Instagram</em></p>

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