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Replacing stamp duty with a land tax could save home buyers big money. Here’s how

<div class="theconversation-article-body"> Infrastructure Victoria has released a <a href="https://assets.infrastructurevictoria.com.au/assets/Victorias-draft-30-year-infrastructure-strategy.pdf">draft 30-year plan </a> outlining how the state can grow sustainably. It focuses on key areas like transport, housing, energy, and public services to support a growing population and improve liveability. The plan also suggests ways to make the state’s infrastructure and tax system fairer, more efficient and more sustainable. The plan’s recommendations are expected to cost between A$60 billion and $75 billion, mostly spent before 2035. This is around 10% of <a href="https://www.abs.gov.au/statistics/economy/national-accounts/australian-national-accounts-state-accounts/2023-24-financial-year#data-downloads">Victoria’s yearly economic output</a> in 2023-24, spread over the next decade. With Victoria already spending record amounts on infrastructure, and <a href="https://pbo.vic.gov.au/document/BudgetUpdateSnapshot2024-25">budget deficits forecast</a> until 2025-26, finding the money to fund social housing, transport and other projects is a key challenge. We estimate the Infrastructure Victoria proposals would add between $4 billion and $5 billion to Victorian government expenditure each year. Yet one of its proposals — replacing stamp duty with an annual land tax — would only cost between $1 million and $5 million to implement, but generate substantial gains for Victorian households. <h2>Why replace stamp duty with land tax?</h2> Stamp duty is one of the biggest barriers to moving house in Victoria and other Australian states. This tax, which people pay when they buy property, adds thousands of dollars to the cost of moving. In 2022-23, Victorians paid about <a href="https://www.abs.gov.au/statistics/economy/national-accounts/australian-national-accounts-state-accounts/2023-24-financial-year#data-downloads">$12 billion</a> to move house. Of this, $3 billion went to actual moving costs (like real estate services, and removalists) and $9 billion was <a href="https://www.abs.gov.au/statistics/economy/government/taxation-revenue-australia/latest-release#data-downloads">stamp duty</a>. That’s an effective tax rate of 300% on the true cost of moving, and in 2023 <a href="https://www.e-business.sro.vic.gov.au/calculators/land-transfer-duty">added about</a> $40,000, or 5.3%, to the cost of purchasing the average Victorian home. High stamp duty discourages people from relocating, even when their needs change — whether that’s moving for a new job, finding a bigger home for a growing family or downsizing after retirement. This leads to longer commutes, traffic congestion and a less efficient housing market. Switching from stamp duty to an annual land tax would make moving easier and spread the tax burden more fairly. Instead of a large, one-time tax when buying a home, all landowners would pay a smaller tax each year. This would help fund schools, hospitals, and other infrastructure more sustainably. <h2>What can we learn from Canberra?</h2> Victoria University’s Centre of Policy Studies <a href="https://www.treasury.act.gov.au/__data/assets/pdf_file/0009/1618407/cops-final-report.pdf">studied a similar reform</a> in the Australian Capital Territory, where stamp duty has been gradually phased out since 2012 and replaced with higher general rates (a type of land tax). Each year, the ACT government sets a target for how much money it needs to raise. Landowners then pay a share of that total, based on the value of their land. One of the biggest benefits of this approach is that it raises money more efficiently. Unlike other taxes, land taxes don’t discourage investment or economic activity. The study found removing stamp duty had a big positive impact on the ACT’s economy. Around 80% of the economic boost came from removing stamp duty, while introducing land tax also had benefits. By studying transaction data from the ACT, we showed each 10% reduction stamp duty rates drove a 6% rise in property transactions. <h2>Would it help housing affordability?</h2> One of the main arguments for replacing stamp duty with land tax is its effect on housing prices. Economists widely agree land taxes reduce land values, which makes housing more affordable. However, the impact of removing stamp duty is less predictable. Our previous research found <a href="https://theconversation.com/swapping-stamp-duty-for-land-tax-would-push-down-house-prices-but-push-up-apartment-prices-new-modelling-finds-184381">the effect on house prices</a> depends on how often properties are bought and sold. Apartments, for example, tend to change hands more frequently than houses. Because of this, removing stamp duty tends to push up apartment prices more than house prices. Even so, the overall effect of the reform is a drop in property prices. The challenge is ensuring this price reduction is evenly spread across different types of housing. <h2>A fairer tax system</h2> To make the system fairer, policymakers could adjust how land tax is applied. One option is to introduce a fixed-rate component, as <a href="https://www.revenue.nsw.gov.au/grants-schemes/previous-schemes/first-home-buyer-choice">proposed </a> in New South Wales. Another idea, suggested 15 years ago in the <a href="https://treasury.gov.au/sites/default/files/2019-10/afts_final_report_part_1_consolidated.pdf">Henry Tax Review</a>, is to base the tax on the per-square-metre value of land. Another key factor is housing supply. If planning laws allow more high-density housing in inner suburbs, price changes could be better managed. <h2>We also need short-term solutions</h2> Replacing stamp duty with land tax is a long-term reform that would take years to fully implement. The ACT, for example, planned a 20-year transition. If all state governments implemented this reform, we estimate Australian households would ultimately be <a href="https://www.copsmodels.com/ftp/workpapr/g-337.pdf">better off by about</a> $,1600 per household per year. In the short term, <a href="https://theconversation.com/whats-the-best-way-to-ease-rents-and-improve-housing-affordability-we-modelled-4-of-the-governments-biggest-programs-225446">other policies </a> could help improve housing affordability. These include increasing Commonwealth Rent Assistance and rethinking first-home buyer support. These steps could complement broader tax, infrastructure and housing supply reforms. The Victorian government is <a href="https://engage.vic.gov.au/victorias30yearinfrastructurestrategy">seeking feedback</a> on the draft plan before releasing the final version later this year. This is an opportunity for Victorians to contribute ideas on how to shape the state’s future and ensure its infrastructure and tax system work for everyone.<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/251472/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/jason-nassios-318488">Jason Nassios</a>, Associate Professor, Centre of Policy Studies, <a href="https://theconversation.com/institutions/victoria-university-1175">Victoria University</a> and <a href="https://theconversation.com/profiles/james-giesecke-9853">James Giesecke</a>, Professor, Centre of Policy Studies and the Impact Project, <a href="https://theconversation.com/institutions/victoria-university-1175">Victoria University</a> 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/replacing-stamp-duty-with-a-land-tax-could-save-home-buyers-big-money-heres-how-251472">original article</a>. Image: 7news.com.au </div>

Money & Banking

A late start, then a big boom: why it took until 1975 for Australians to finally watch TV in colour

<div class="theconversation-article-body"> Some 50 years ago, on March 1 1975, Australian television stations officially moved to colour. Networks celebrated the day, known as “<a href="https://artsandculture.google.com/story/c-day-and-the-colour-monster-national-archives-of-australia/LAWRcgnnNY1cKA?hl=en">C-Day</a>”, with unique slogans such as “come to colour” (ABC TV), “Seven colours your world” (Seven Network), “living colour” (Nine Network) and “first in colour” (<a href="https://televisionau.com/feature-articles/network-ten">0-10 Network</a>, which later became Network Ten). The ABC, Seven and Nine networks also updated their logos to incorporate colour. <figure><iframe src="https://www.youtube.com/embed/T7gZdYVZJNc?wmode=transparent&start=0" width="440" height="260" frameborder="0" allowfullscreen="allowfullscreen"></iframe></figure> For most viewers, however, nothing looked much different. The majority owned a black and white TV, while a coloured broadcast required a colour TV set. Advertisers were initially reluctant to accept the change, which required them to re-shoot black and white commercials with colour stock at a significantly higher cost. Many reasoned viewers were still watching the ads in black and white. And initially this assumption was correct. But by nine months later, 17% of Australian homes <a href="https://trove.nla.gov.au/newspaper/article/110829595?searchTerm=colour%20television%20in%20australia%201975">had a colour receiver</a>. This rose to 31% by July 1976. By 1978, 64% of Melbourne and 70% of Sydney households owned colour TV sets, making Australia one of the world’s fastest adopters of colour TV. According to the Federation of Australian Commercial Television Stations (FACTS) annual report for 1975–76, colour TV increased overall viewership by 5%, with people watching for longer periods. The 1976 Montreal Olympics also led to an <a href="https://www.nfsa.gov.au/collection/curated/asset/96836-olympic-games-coverage-colour">increase in TV sales</a>, with the colour broadcast shared between the ABC, Seven and Nine. <figure><iframe src="https://www.youtube.com/embed/L-75iIoshak?wmode=transparent&start=0" width="440" height="260" frameborder="0" allowfullscreen="allowfullscreen"></iframe><figcaption>Highlights from the Montreal 1976 Olympic Games marathon event.</figcaption></figure> <h2>A late start</h2> With the United States introducing colour TV from 1954, it’s peculiar that Australia took so long to make the transition – especially since conversations about this had been underway since the 1960s. In 1965, a report outlining the process and economic considerations of transitioning to colour was tabled in parliament. Feedback from the US highlighted problems around broader acceptance in the marketplace. Colour TV sets were expensive and most programs were still being shot in black and white, despite the availability of colour. Networks were the most hesitant (even though they’d go on to become one of the most major benefactors). In 1969, it was <a href="https://australianfoodtimeline.com.au/colour-tv-introduced/">estimated transitioning to colour</a> would cost the ABC A$46 million (the equivalent of $265,709,944 today) over six years. The federal government, led by then prime minister Robert Menzies, decided to take a cautious approach to the transition – allowing manufacturers, broadcasters and the public time to prepare. The first colour “test” broadcast took place on June 15 1967, with <a href="https://televisionau.com/2025/03/tv-50-years-in-colour.html">live coverage</a> of a Pakenham country horse racing event in Victoria (although few people would have had coloured TV sets at this point). Other TV shows also tested broadcasting in colour between 1972 and 1974, with limited colour telecasts aired from mid-1974. It wasn’t until March 1975 that colour TV was being transmitted permanently. <figure><iframe src="https://www.youtube.com/embed/vIqqiK4ncfs?wmode=transparent&start=40" width="440" height="260" frameborder="0" allowfullscreen="allowfullscreen"></iframe><figcaption>‘Aunty Jack Introduces Colour’ was a one-off television special of The Aunty Jack Show, broadcast on the ABC on February 28 1975.</figcaption></figure> <h2>The cinema industry panics</h2> <a href="https://anzacportal.dva.gov.au/wars-and-missions/vietnam-war-1962-1975/events/withdrawal-from-1971">Australia’s involvement</a> in the Vietnam War created further urgency to televise in colour. With the war ending in April 1975, Australians watched the last moments in colour. Other significant events broadcast in colour that year included the December federal election, in which Malcolm Fraser defeated Gough Whitlam after the latter was <a href="https://www.youtube.com/watch?v=SXq056TJhU4">dramatically dismissed</a> as prime minister on November 11. With the public’s growing interest in colour TV, local manufacturers began lobbying for higher tariffs on imports to encourage domestic colour TV production. In the mid 1970s, a new colour set in Australia cost between $1,000 and $1,300, while the average full-time annual income was <a href="https://www.abs.gov.au/AUSSTATS/abs@.nsf/Lookup/6302.0Main+Features1Sep%201975?OpenDocument=">around $8,000</a>. Still in the throes of a financial recession, customers began seeking out illegally-imported colour TV sets – which were appearing at car boot markets across the country. <figure><iframe src="https://www.youtube.com/embed/wTKMqPg4hM8?wmode=transparent&start=0" width="440" height="260" frameborder="0" allowfullscreen="allowfullscreen"></iframe><figcaption>British childrens show The Wombles came to Australian screens shortly after colour TV was introduced.</figcaption></figure> The government also created an advertising campaign warning the public of scammers who would offer to convert black-and-white TVs to colour. These door-to-door “salesmen” <a href="https://hoaxes.org/archive/permalink/instant_color_tv#google_vignette">claimed to have</a> a special screen which, when placed over a TV, would magically turn it colourful. By 1972, the estimated cost of upgrading broadcasting technology to colour <a href="https://www.nfsa.gov.au/latest/colour-tv-part-1">had reached $116 million</a>. The cinema industry, in a panic, even questioned whether colour TV could damage a viewer’s eyesight. The industry had previously suffered huge losses in cinema attendance with the introduction of black-and-white TV from 1956. Cinemas had a monopoly on colour and were petrified over what the introduction of colour to television could do to their attendances. Such fears were founded. In 1974 Australia had 68 million admissions to the cinema. By 1976, there were just 28.9 million admissions. Never again would yearly cinema admissions reach <a href="https://www.screenaustralia.gov.au/fact-finders/cinema/industry-trends/historical-admissions">above 40 million</a>. But despite the complaints – from the cinema industry, advertisers, broadcasters and manufacturers – audiences were ready for colour. And any network that dared to program in black and white would subject itself to a barrage of annoyed viewers. Colour TV was here to stay.<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/251363/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/stephen-gaunson-265553">Stephen Gaunson</a>, Associate Professor in Cinema Studies, <a href="https://theconversation.com/institutions/rmit-university-1063">RMIT University</a> 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/a-late-start-then-a-big-boom-why-it-took-until-1975-for-australians-to-finally-watch-tv-in-colour-251363">original article</a>. Image: Youtube/Austvarchive </div>

Should you use your retirement savings to pay off debt? Three things to keep in mind

<div class="theconversation-article-body"><a href="https://theconversation.com/profiles/bomikazi-zeka-680577">Bomikazi Zeka</a>, <a href="https://theconversation.com/institutions/university-of-canberra-865">University of Canberra</a> and <a href="https://theconversation.com/profiles/jasmine-kinsman-1438670">Jasmine Kinsman</a>, <a href="https://theconversation.com/institutions/nelson-mandela-university-1946">Nelson Mandela University</a> A host of countries have taken steps to reform the terms under which people can access their retirement benefits. South Africa is the most recent. In 2024 it <a href="https://theconversation.com/south-africa-has-changed-its-retirement-rules-to-help-boost-country-savings-how-it-will-work-233287">introduced changes</a> that allow access to some retirement savings while ensuring that most of the money is still preserved for later. Other countries that have changed the rules to allow members to dip into their savings before retirement include Australia, Chile, India and Portugal. Changes were introduced to ease the financial strain caused by COVID-19 pandemic lockdowns. People across the world are grappling with debt and the cost of living. <a href="https://www.treasury.gov.za/comm_media/press/2024/2024%20Two-pot%20System%20Updated%20%20FAQ%20August%202024.pdf">Policymakers</a> have considered this an avenue that offers financially distressed fund members the flexibility to access their retirement funds while still supporting long-term retirement savings. Retirement funds are also often the only sizeable savings that fund members have. A recent report by South Africa’s <a href="https://www.discovery.co.za/portal/business/top-reasons-for-two-pot-withdrawal-requests">Discovery Corporate and Employee Benefits</a>, which represents 3,000 employers that provide pension and provident funds for just over one million employees, found that people aged between 35 and 45 made the most claims to access the savings component of their retirement. When asked what they used the funds for, 24% of members said their withdrawals were for financing home or car expenses. Another 21% of members were using their funds to pay off short-term debt. The majority of members who withdrew their retirement savings were low-income earners (earning up to R125,000 or US$7,000 a year). On the other hand, withdrawals were lowest among high-income earners (earning more than R1 million or US$56,000 a year). This data provides evidence that most low- to middle-income South African consumers are grappling with the trade-off between preserving their capital for retirement and meeting their monthly financial obligations. Given that everyone’s financial situation, goals and needs are different, it’s always best to speak to a financial advisor to assess whether using your retirement savings to pay off debt will be a sound move. But, as academics who have focused on financial planning, we offer three pointers to consider: <ul> <li> understand what you owe, to whom, and what it’s costing you </li> <li> plan beyond paying off debt </li> <li> weigh the pros and cons carefully. </li> </ul> <h2>Know which debt to settle first</h2> Debt with a high interest rate often takes longer to repay, because at the start of the loan repayment period, most of the repayments are going towards interest payments – not reducing the capital amount. If you use your retirement proceeds towards this, it could shorten the period that it would take to settle the loan and reduce the interest repayments, which are compounded according to the outstanding loan balance. Short-term loans, such as those with a repayment term of up to 18 months, tend to have higher interest rates. Unsecured debt, which is debt that is not tied to an asset, also attracts high interest rates because they have little to no collateral requirements. Collateral provides the lender with a guarantee of compensation in the event of default. When there is no collateral, the cost of debt becomes more expensive. Using your retirement proceeds towards settling these short-term loans can free up cash that can be used towards settling other debt and will improve your credit score. <h2>Understanding borrowing behaviour</h2> Using your retirement savings to settle debt should be a priority if you have a plan in place to ensure that your overall financial position will improve. Once the debt is cleared, consider how you can use your free cash in your favour. This could mean boosting your savings or acquiring assets and investments. But if retirement savings are being used to pay off debt while you accumulate more debt, this indicates on ongoing cycle of debt. For example, paying off the minimum amount due on a loan but also consuming the balance that becomes available on the same loan is a sign of poor borrowing behaviour. A more extreme example is taking on more debt to service existing debt. Without a change in borrowing behaviour, using your retirement savings to pay off debt will leave you worse off. You will have missed out on the opportunity to grow your retirement savings and you will have got into more debt. <h2>Debt repayments vs retirement returns</h2> When considering withdrawing from your retirement savings to pay down debt, it’s also important remember this will be at the expense of building your retirement nest egg. For instance, if a 35-year-old were to draw down R30,000 from their retirement fund, that same amount could have grown their retirement capital by over R200,000 by the time they reached 55 years old (assuming an investment return of 10%). Withdrawing your retirement savings on a frequent basis could also mean you may need to work longer and past your intended retirement age to compensate for the withdrawals. Or you may need to find ways to supplement your retirement savings through other investments, or consider reducing your standard of living at retirement. <h2>Is this a sound move?</h2> Remember, withdrawal from retirement savings is subject to tax. While retirement may seem far off when there are more pressing financial needs, using your savings to pay down debt has its advantages and drawbacks. Since withdrawals are being used to pay for expenses and service debt, it’s also important to reflect on borrowing behaviours that may need to be corrected. Otherwise, using retirement savings could become a financial crutch that could make your retirement income less secure. Settling debt using your retirement savings should be done after careful consideration and planning. If in doubt, speak to a financial advisor.<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/244837/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/bomikazi-zeka-680577">Bomikazi Zeka</a>, Associate Professor in Finance and Financial Planning, <a href="https://theconversation.com/institutions/university-of-canberra-865">University of Canberra</a> and <a href="https://theconversation.com/profiles/jasmine-kinsman-1438670">Jasmine Kinsman</a>, Senior Lecturer in Financial Planning and Certified Financial Planner, <a href="https://theconversation.com/institutions/nelson-mandela-university-1946">Nelson Mandela University</a> Image credits: Shutterstock 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/should-you-use-your-retirement-savings-to-pay-off-debt-three-things-to-keep-in-mind-244837">original article</a>. </div>

Money & Banking

Big banks finally cut fixed-interest mortgage rates

NAB has become the first big bank to announce it has cut its fixed rate mortgages across all loan terms. The bank is the first of the big four banks to cut its fixed rates in 2025, two weeks out from the Reserve Bank of Australia’s first meeting when it is tipped to cut the cash rate. NAB announced on Monday that their lowest fixed rate is now 5.84 per cent, with a deposit of at least 20 per cent on a three-year term. “NAB is the first of the big four banks to cut fixed rates in 2025, with other banks likely to follow,” Canstar data insights director Sally Tindall said. “The cost of wholesale fixed rate funding has started to ease slightly. This, combined with a prospective cash rate cut, should push other banks into moving on fixed rates.” The cuts from NAB come almost two weeks after Macquarie Bank lowered its fixed rates, however, ANZ still has the lowest fixed rate out of the big four banks at 5.74 per cent for a two-year or three-year term. “While a few banks are now starting to sharpen their offerings, fixed rates still have a way to fall before they become fashionable again with borrowers,” Tindall said. “We expect the big four banks in particular to pass on cash rate cuts in full, at least for the first couple of cash rate cuts,” she said. “But we might even see some banks choose to pass on even more to new customers in order to take advantage of that re-engagement for borrowers in what a competitive rate looks like.” “Many homeowners have been waiting for well over a year for a cash rate cut. It’s hard to see them throwing in the towel and switching to a fixed rate now when the RBA is poised to move." “That said, there’s no guarantee we’ll see a barrage of cash rate cuts and borrowers should factor this into their thinking.” Image credits: Shutterstock <p class="mb-4 font-serif text-article-body" style="font-family: var(--font-google-newsreader),serif; box-sizing: border-box; border: 0px solid; margin: 0px 0px 24px; font-size: 1.2275rem; line-height: 26.514px; caret-color: #2a2a2a; color: #2a2a2a;">

Money & Banking

From the Big Bogan to Larry the Lobster, why do towns build Big Things?

<div class="theconversation-article-body"><a href="https://theconversation.com/profiles/amy-clarke-248726">Amy Clarke</a>, <a href="https://theconversation.com/institutions/university-of-the-sunshine-coast-1068">University of the Sunshine Coast</a> Big Things first appeared in Australia in the 1960s, beginning with the <a href="https://sahistoryhub.history.sa.gov.au/things/big-scotsman/">Big Scotsman</a> (1962) in Medindie, South Australia, the <a href="https://bigbanana.com">Big Banana</a> (1964) in Coffs Harbour, New South Wales, and the <a href="https://www.visitnsw.com/destinations/country-nsw/the-murray/tocumwal/attractions/big-murray-cod">Big Murray Cod</a> (1968) in Tocumwal, NSW. These structures were inspired by earlier North American examples, such as <a href="https://lucytheelephant.org">Lucy the Elephant</a> (1882) in New Jersey, and several <a href="https://www.laconservancy.org/learn/historic-places/randys-donuts/">big doughnuts in California</a>. While they differed in subject matter, all aimed to attract the attention of passing motorists: in the 1950s–1960s, private car ownership had soared and highway construction spread. Towns and regions across Australia, <a href="https://ourwayoflife.co.nz/11-iconic-big-thing-statues-around-new-zealand/">New Zealand</a> and North America used oversized landmarks to get travellers to stop, take a photo and hopefully spend money at local businesses. As awareness of these giant landmarks grew, so did the desire of other communities to have their own. Within a few decades, Australia’s Big Things had become a beloved fixture of road trips and summer holidays. <h2>A big cultural impact</h2> <a href="https://www.tandfonline.com/doi/full/10.1080/14443058.2022.2144928">My research</a> shows the number of Big Things being constructed in Australia hit an initial peak in the 1980s before experiencing a temporary decline. By the 2000s, however, towns as far afield as Tully in Queensland (<a href="https://www.australiantraveller.com/qld/big-gumboot/">Big Golden Gumboot</a>), Cressy in Tasmania (<a href="https://www.aussietowns.com.au/town/cressy-tas">Big Trout</a>), and Exmouth in Western Australia (<a href="https://www.exmouth.wa.gov.au/news/exmouths-iconic-and-much-loved-crustacean-is-back/358">Big Prawn</a>) were reviving the tradition. Soon, Big Things became firmly entrenched in Australian popular culture: featuring on limited edition <a href="https://www.couriermail.com.au/news/queensland/sunshine-coast/redheads-pay-homage-to-icons/news-story/219026f222830073f4db107759e1145c">Redheads matchboxes</a> (2010), and on sets of <a href="https://australiapostcollectables.com.au/stamp-issues/aussie-big-things">Australia Post stamps </a>(2007 and 2023). But some of the older structures experienced declining popularity: the Big Wool Bales in Hamilton, Victoria (closed 2020), Victoria’s Giant Gippsland Earth Worm in Bass (closed 2020) and the Big Cask Wine in Mourquong, NSW (closed 2012), survive only in holiday photos and people’s memories. Icons like Larry the Lobster (Kingston, SA), the Big Prawn (Ballina, NSW), and the Big Pineapple (Nambour, Queensland) have battled <a href="https://www.nytimes.com/2018/08/30/world/australia/larry-lobster-big-things-sale.html">changes in ownership</a>, <a href="https://www.abc.net.au/news/2009-09-24/council-votes-to-sink-big-prawn/1441452">threat of demolition</a>, and <a href="https://www.theguardian.com/australia-news/article/2024/aug/24/big-pineapple-reopen-queensland-woombye-history">closure</a>. Despite these challenges, and debates over heritage conservation, construction of these giant landmarks has not slowed. <a href="https://www.visitnsw.com/destinations/outback-nsw/cobar-area/nyngan/attractions/big-bogan">The Big Bogan</a> was erected in 2015 in Nyngan, NSW, by community members who were eager to encourage visitors to the area. A local progress association in the small town of Thallon in Queensland unveiled William the <a href="https://www.stgeorgeregion.com.au/listing/william-the-wombat/">Big Wombat</a> in 2018, also with the aim to bring attention to the area. Similar hopes were held for the <a href="https://www.queensland.com/au/en/things-to-do/attractions/p-5f72991d4390bc7c02ab8547-the-big-melon">Big Watermelon</a> erected in 2018 (Chinchilla, Queensland), and the Big Tractor (Carnamah, WA) <a href="https://www.abc.net.au/news/2024-10-05/midwest-wa-town-carnamah-unveils-worlds-biggest-tractor/104388496">which opened this year</a>. Through my research, I spoke with many people involved with projects such as these, and they said they’d selected objects that were iconic to their area. This could be a product they specialise in, a local native animal, or, in the case of the Big Bogan, a joke based on the name of nearby Bogan River. Most builders openly acknowledge their primary motivation is to promote the region, attract tourist dollars and investment, and revive towns that have seen better days. But do Big Things actually achieve these goals? Unfortunately, there is no easy answer. <h2>An economic return?</h2> Local economies are complex, as are the reasons people choose to visit. Many Big Things are constructed on the sides of highways that connect Australia’s numerous regional towns. People who stop for photos may not set out with the goal of visiting that Big Thing – it may simply be convenient to take a break there while on the way somewhere else. And if people do stop, it doesn’t guarantee they will spend more than the cost of filling up their car with petrol, if that. Over the years, tourism researchers have developed <a href="https://www.sciencedirect.com/science/article/abs/pii/S1447677021000322">several different models </a>for calculating the impact of rural and regional tourism on local economies. However, none of these approaches has proven to be universally effective. Most scholars agree tourists aren’t likely to travel long distances <a href="https://www.tandfonline.com/doi/abs/10.1080/21568316.2019.1673811">for any one reason</a>. They will consider a range of factors including food and accommodation, and the closeness of numerous attractions. In other words: building a Big Thing won’t guarantee a sustained increase in tourism to the area on its own. Communities should factor this in when considering erection of a Big Thing, especially given the cost of construction. The Big Mango in Bowen <a href="http://www.atlasobscura.com/places/the-big-mango">reportedly cost $A90,000</a> when it was built in 2002, while the organisers of the Big Tractor in Carnamah <a href="https://www.abc.net.au/news/2024-10-05/midwest-wa-town-carnamah-unveils-worlds-biggest-tractor/104388496">raised more than $600,000</a> to cover its price tag. The spread of social media and easy access to media outlets via the internet offers communities another reason to build Big Things, however. Australians are not the only ones fascinated by Big Things, and when a new one is unveiled — or an existing one goes “missing”, as <a href="https://www.bbc.com/news/newsbeat-26324023">the Big Mango did in 2014</a> — it is often covered by the press and then shared online. These giant landmarks are also highly “Instagrammable”: <a href="https://www.dailymail.co.uk/news/article-3039474/The-20-hottest-Australian-attractions-Instagram-revealed-spectacular-Sydney-Opera-House-Twelve-Apostles-don-t-forget-Big-Banana.html">a 2015 survey</a> revealed that six of Australia’s 20 most Instagrammed tourist attractions were Big Things. This sort of coverage doesn’t necessarily guarantee the long-term revival of a town’s economy. But it can help to remind people of the town’s existence, and it gives locals a memorable image on which to build.<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/241129/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/amy-clarke-248726">Amy Clarke</a>, Senior Lecturer in History, specialising in built heritage and material culture, <a href="https://theconversation.com/institutions/university-of-the-sunshine-coast-1068">University of the Sunshine Coast</a> Image credits: Shutterstock 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/from-the-big-bogan-to-larry-the-lobster-why-do-towns-build-big-things-241129">original article</a>. </div>

Domestic Travel

Big change for new buses after Hunter Valley crash

Australian buses and coaches fitted with seatbelts will soon be required to have announcements reminding people to buckle up, following the tragic Hunter Valley bus crash that killed 10 people almost two years ago. On Tuesday, the federal government announced that the new rule will require these vehicles to include visual and audio alerts reminding passengers to buckle up, similar to those on airplanes. “Travelling by bus is one of the safest forms of transport in Australia, and these new audible and visual signage requirements will ensure this continues to be the case,” federal assistant Regional Development Minister Anthony Chisholm said. The government also announced it had closed a loophole where some buses with seats under 1m high were exempted from requiring seatbelts. Under the regulations, all new bus and coach models must comply by November 1, 2026, while existing models will need to make the changes by November 1, 2027. “These safety outcomes further improve what is generally regarded as the most stringent seatbelt rules for buses in the world,” Bus industry confederation chair Tony Hopkins said. “With seat belt usage currently as low as 7 per cent on some services, this provides a simple but powerful message that reminds bus passengers to fasten a seat belt. “After all, if a seat belt is provided in a bus it must be worn by law.” Image: Mino Surkala / Shutterstock.com

Domestic Travel

Readers response: What are some things older generations did as couples that we rarely see today?

We asked our readers what simple acts of romance they encountered in their lives, that younger generations don't partake in anymore, and the response was overwhelming. Here's what they said. Sharon Watson - Men would walk on the outside of the lady on the road. Also, walking hand in hand and doors & car doors were opened by men for women. Jo Hoffman - Went to cabarets for old time ballroom dancing to beautiful music! Ann MacCann - Taking walks holding hands. Judith Turpin - Ate breakfast and evening meal at the table as family. We communicated! Margaret Gerlach - Visited family and in-laws every week. Lorna Johnson - Gentlemen tipped their hats at ladies and held the door open for you. Jan Bradley - Dancing at the town hall, drive in movies, stayed together. Jane Reynolds - Spending time together as a family, playing games, talking to each other. No phones, writing and receiving letters, supporting each other, staying together, caring and helping each other. Myfawny Jones - One partner read the road map while the other drived, often on corrugated gravel roads. Lindi Williams - Played cards together. Cherylyn Thornton - Went to the drive in movies. Patricia Sutton - We had children because we wanted them, not because of the economy or that we couldn't afford them! Di Richardson - Shotgun marriages! Image credits: Shutterstock

Relationships

Readers response: What's one thing you must do when visiting Australia?

We asked our readers what travellers shouldn't miss when they head to Australia. Here's what they said. Jim Bell - The one thing you must do is to take a couple months there. We were there for 3 weeks and it wasn't nearly long enough to see and do everything we wanted to. Lorraine James - Land in Brisbane and take a cruise ship to Tasmania. Princess does a cruise stopping in Sydney, Bega, a country town on the coast and then of course Port Arthur old penal settlement then Hobart ,Tasmania. Get a taste of Australia. Deedee Cullum - If you’re in a major city then catch a train for the day. Eg, Sydney to Blue Mountains or Melbourne to Dandenongs. That way you’ll see some bush without the bother of driving. Anne Hare - Go see Uluru in the Northern Territory. It's a long way from the coast but it will astound you. Suzanne Maree Saxelby - Remember to visit the outback. It has a beauty that the coastline doesn't have. Janette Mitchell - Take the XPT train from Sydney to Coffs Harbour. So much beautiful scenery & Coffs Harbour is a great place to stay. Mattie Smith - Don't just stick to the coast! Australia has so much to offer. Avis Tolcher - Visit the Whitsundays. So beautiful. Judith Turpin - Wander through the Daintree on foot. Swim in a deep fresh water hole. Take your children on a guided night walk through the forest. Magic! Image credits: Shutterstock

Domestic Travel

7 things you can do if you think you sweat too much

<div class="theconversation-article-body"> <a href="https://theconversation.com/profiles/michael-freeman-223922">Michael Freeman</a>, <a href="https://theconversation.com/institutions/bond-university-863">Bond University</a> Sweating is our body’s way of cooling down, a bit like an internal air conditioner. When our core temperature rises (because it’s hot outside, or you’re exercising), sweat glands all over our skin release a watery fluid. As that fluid evaporates, it takes heat with it, keeping us from overheating. But sweating can vary from person to person. Some people might just get a little dewy under the arms, others feel like they could fill a swimming pool (maybe not that dramatic, but you get the idea). So what’s a normal amount of sweat? And what’s too much? <h2>Why do some people sweat more than others?</h2> How much you sweat depends on a number of <a href="https://www.tandfonline.com/doi/pdf/10.1080/23328940.2019.1632145">factors</a> including: <ul> <li> your age (young kids generally sweat less than adults) </li> <li> your sex (men tend to sweat more than women) </li> <li> how active you are. </li> </ul> The average person sweats at the rate of <a href="https://www.tandfonline.com/doi/pdf/10.1080/23328940.2019.1632145">300 millilitres per hour</a> (at 30°C and about 40% humidity). But as you can’t go around measuring the volume of your own sweat (or weighing it), doctors use another measure to gauge the impact of sweating. They ask whether sweating interferes with your daily life. Maybe you stop wearing certain clothes because of the sweat stains, or feel embarrassed so don’t go to social events or work. If so, this is a medical condition called <a href="https://www.dermcoll.edu.au/atoz/axillary-hyperhidrosis/">hyperhidrosis</a>, which affects <a href="https://onlinelibrary.wiley.com/doi/pdf/10.1111/1346-8138.16908">millions of people</a> worldwide. People with this condition most commonly report problematic armpit sweating, as you’d expect. But sweaty hands, feet, scalp and groin can also be an issue. Hyperhidrosis can be a symptom of another medical condition, such as an <a href="https://www.frontiersin.org/articles/10.3389/fendo.2023.1167890/pdf">overactive thyroid</a>, <a href="https://www.tandfonline.com/doi/pdf/10.1080/23328940.2019.1632145">fever or menopause</a>. But hyperhidrosis can have no obvious cause, and the reasons behind this so-called primary hyperhidrosis are a bit of a mystery. People have normal numbers of sweat glands but researchers think they simply over-produce sweat after triggers such as stress, heat, exercise, tobacco, alcohol and hot spices. There may also be a genetic link. <h2>OK, I sweat a lot. What can I do?</h2> 1. Antiperspirants Antiperspirants, particularly ones with <a href="https://onlinelibrary.wiley.com/doi/pdf/10.1111/ics.12852">aluminium</a>, are your first line of defence and are formulated to reduce sweating. Deodorants only stop body odour. <a href="https://www.drugs.com/mtm/aluminum-chloride-hexahydrate-topical.html#:%7E:text=Aluminum%20chloride%20hexahydrate%20is%20an,excessive%20sweating%2C%20also%20called%20hyperhidrosis.">Aluminum chloride hexahydrate</a>, <a href="https://go.drugbank.com/drugs/DB11081">aluminium chloride</a> or the weaker <a href="https://cosmileeurope.eu/inci/detail/807/aluminum-zirconium-tetrachlorohydrex-gly/">aluminum zirconium tetrachlorohydrex glycinate</a> react with proteins in the sweat glands, forming a plug. This plug temporarily blocks the sweat ducts, reducing the amount of sweat reaching the skin’s surface. These products can contain <a href="https://www.termedia.pl/Journal/-7/pdf-46948-10?filename=Hyperhidrosis.pdf">up to 25%</a> aluminium. The higher the percentage the better these products work, but the more they irritate the skin. 2. Beat the heat This might seem obvious, but staying cool can make a big difference. That’s because you have less heat to lose, so the body makes less sweat. Avoid super-hot, long showers (you will have more heat to loose), wear loose-fitting clothes made from breathable fabrics such as cotton (this allows any sweat you do produce to evaporate more readily), and carry a little hand fan to help your sweat evaporate. When exercising try <a href="https://pathprojects.com/blogs/news/how-to-make-an-ice-bandana-for-trail-running-and-hiking?srsltid=AfmBOorsJpNUDs_ZkAkJDFbDFFSeT5TtWsU4aqI4-_hHWbl_wuZLsgHn">ice bandanas</a> (ice wrapped in a scarf or cloth, then applied to the body) or wet towels. You can wear these around the neck, head, or wrists to reduce your body temperature. Try also to modify the time or place you exercise; try to find cool shade or air-conditioned areas when possible. If you have tried these first two steps and your sweating is still affecting your life, talk to your doctor. They can help you figure out the best way to manage it. 3. Medication Some <a href="https://www.termedia.pl/Journal/-7/pdf-46948-10?filename=Hyperhidrosis.pdf">medications</a> can help regulate your sweating. Unfortunately some can also give you side effects such as a dry mouth, blurred vision, stomach pain or constipation. So talk to your doctor about what’s best for you. Your GP may also refer you to a dermatologist – a doctor like myself who specialises in skin conditions – who might recommend different treatments, including some of the following. 4. Botulinum toxin injections Botulinum toxin injections are not just used for cosmetic reasons. They have many applications in medicine, including blocking the nerves that control the sweat glands. They do this for many months. A dermatologist usually gives the injections. But they’re only subsidised by <a href="https://www9.health.gov.au/mbs/fullDisplay.cfm?type=item&q=18362&qt=ItemID">Medicare</a> in Australia for the armpits and if you have primary hyperhidrosis that hasn’t been controlled by the strongest antiperspirants. These injections are given up to three times a year. It is not subsidised for other conditions, such as an overactive thyroid or for other areas such as the face or hands. If you don’t qualify, you can have these injections privately, but it will cost you hundreds of dollars per treatment, which can last up to six months. 5. Iontophoresis This involves using a device that passes a weak electrical current through water to the skin to <a href="https://www.sciencedirect.com/science/article/am/pii/S254243272030014X">reducing sweating</a> in the hands, feet or armpits. Scientists aren’t sure exactly how it works. But this is the <a href="https://pmc.ncbi.nlm.nih.gov/articles/PMC9826940/">only way</a> to control sweating of the hands and feet that does not require drugs, surgery or botulinum toxin injections. This treatment is not subsidised by Medicare and not all dermatologists provide it. However, you can buy and use your own device, which tends to be cheaper than accessing it privately. You can ask your dermatologist if this is the right option for you. 6. Surgery There is a procedure to cut certain nerves to the hands that stop them sweating. This is <a href="https://www.mdpi.com/2077-0383/11/3/786/pdf">highly effective</a> but can cause sweating to occur elsewhere. There are also other surgical options, which you can discuss with your doctor. 7. Microwave therapy This is a <a href="https://www.tandfonline.com/doi/pdf/10.1080/09546634.2022.2089333">newer treatment</a> that zaps your sweat glands to destroy them so they can’t work any more. It’s not super common yet, and it is quite painful. It’s available privately in a few centres.<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/239397/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/michael-freeman-223922">Michael Freeman</a>, Associate Professor of Dermatology, <a href="https://theconversation.com/institutions/bond-university-863">Bond University</a> Image credits: Shutterstock 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/7-things-you-can-do-if-you-think-you-sweat-too-much-239397">original article</a>. </div>

Body

Airlines cancel flights after volcanic eruptions. An aviation expert explains why that’s a good thing

<div class="theconversation-article-body"><a href="https://theconversation.com/profiles/patrick-murray-2027113">Patrick Murray</a>, <a href="https://theconversation.com/institutions/university-of-southern-queensland-1069">University of Southern Queensland</a> At least three airlines <a href="https://www.abc.net.au/news/2024-11-13/flights-to-and-from-bali-cancelled-due-to-volcanic-ash/104593698">cancelled flights between Australia and Bali</a> this week after a volcano eruption in eastern Indonesia spewed a vast plume of volcanic ash into the air. But while would-be holiday makers are naturally <a href="https://7news.com.au/sunrise/volcanic-eruption-in-indonesia-forces-airlines-to-cancel-flights-to-bali-stranding-frustrated-passengers-c-16732486">upset</a> at having their plans disrupted, it’s worth remembering it’s not safe to fly planes through volcanic ash. So, how do airlines decide it’s not safe to fly when a volcano erupts? And why is volcanic ash so dangerous for aircraft, anyway? <h2>What does volcanic ash do to a plane?</h2> Volcanic ash particles are very, very abrasive. They can cause permanent damage to windscreens in the aircraft and can even make windscreens look opaque – like someone has gone over them with sandpaper. Imagine getting spectacles and scraping them over and over with sandpaper – that’s what you’d see if you were sitting in the cockpit. Volcanic ash can also clog or damage external sensors, leading to erroneous readings, and can infiltrate an aircraft’s ventilation system. This can affect cabin air quality and lead to potential respiratory issues. But the main issue, in fact, is the impact volcanic ash has on engines. A jet engine works by drawing in air, compressing it, mixing it with fuel and igniting it. This creates high-pressure exhaust gases that are expelled backward, which pushes the engine (and the aircraft) forward. The correct balance of fuel and airflow is crucial. When you disrupt airflow, it can cause the engine to stall. Ash particles that get inside the engines will melt and build up, causing disruption of the airflow. This could cause the engine to “flame out” or stall. Volcanic ash has a lot of silica in it, so when it melts it turns into something similar to glass. It won’t melt unless exposed to very high temperatures – but inside a jet engine, you do get very high temperatures. There was a famous incident in 1982 where a <a href="https://theaviationgeekclub.com/the-story-of-british-airways-flight-9-the-boeing-747-that-lost-all-four-engines-due-to-volcanic-ash-yet-it-landed-safely/">British Airways Boeing 747 plane</a> was flying in the vicinity of Indonesia and lost all four engines after it encountered volcanic ash spewing from Java’s Mount Galunggung. Fortunately, the pilot was able to <a href="https://simpleflying.com/gallunggung-glider-the-story-of-british-airways-flight-9/">restart the engines and land safely</a>, although the pilots were unable to see through the front windscreens. <h2>How do airlines decide it’s not safe to fly when a volcano erupts?</h2> The decision is made by each airline’s operational staff. Each airline’s operational team would be looking at the situation in real time today and making the decision based on their risk assessment. Every airline has a process of risk management, which is required by Australia’s Civil Aviation Safety Authority. Different airlines may tackle risk management in slightly different ways; you might have some cancelling flights earlier than others. But, in broad terms, the more sophisticated airlines would come to similar conclusions and they are likely all communicating with each other. Mostly, they make the call based on the extent of the plume – how big the cloud of ash is and where it’s going, bearing in mind that winds vary with altitude. As you get stronger winds with altitude, the ash can drift quite far from the source. There is also a United Nations agency called the <a href="https://www.icao.int/Pages/default.aspx">International Civil Aviation Organization</a>, which issues guidance on volcanic ash hazards. Various meteorological agencies around the world work together and liaise with aviation authorities to spread the word quickly if there is an eruption. For airlines to resume flights, the ash needs to clear and there needs to be a low probability of further eruptions. <h2>Passenger safety is the priority</h2> The underpinning reason behind these flight cancellations is safety. If you lose engines and you can’t see out the window, the risk to passenger safety is obvious. Naturally, people are upset about their holiday plans being held up. But it’s actually in passengers’ best interests to not fly through volcanic ash.<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/243576/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/patrick-murray-2027113">Patrick Murray</a>, Emeritus Professor of Aviation, <a href="https://theconversation.com/institutions/university-of-southern-queensland-1069">University of Southern Queensland</a> Image credits: Shutterstock 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/airlines-cancel-flights-after-volcanic-eruptions-an-aviation-expert-explains-why-thats-a-good-thing-243576">original article</a>. </div>

Travel Trouble

These 12 things can reduce your dementia risk – but many Australians don’t know them all

<div class="theconversation-article-body"><a href="https://theconversation.com/profiles/joyce-siette-1377445">Joyce Siette</a>, <a href="https://theconversation.com/institutions/western-sydney-university-1092">Western Sydney University</a> and <a href="https://theconversation.com/profiles/laura-dodds-1378067">Laura Dodds</a>, <a href="https://theconversation.com/institutions/western-sydney-university-1092">Western Sydney University</a> Dementia is a <a href="https://www.abs.gov.au/statistics/health/causes-death/provisional-mortality-statistics/jan-may-2022">leading</a> cause of death in Australia. Although dementia mainly affects older people, it is an avoidable part of ageing. In fact, we all have the power to reduce our risk of developing dementia, no matter your age. Research shows your risk of developing dementia could be <a href="https://www.thelancet.com/article/S0140-6736(20)30367-6/fulltext">reduced by up to 40%</a> (and even higher if you live in a <a href="https://www.thelancet.com/journals/langlo/article/PIIS2214-109X(19)30074-9/fulltext">low or middle-income country</a>) by addressing lifestyle factors such as healthy diet, exercise and alcohol consumption. But the first step to reducing population-wide dementia risk is to understand how well people understand the risk factors and the barriers they may face to making lifestyle changes. Our new <a href="https://www.mdpi.com/2673-9259/2/4/21/htm">paper</a>, published this week in the <a href="https://www.mdpi.com/2673-9259/2/4/21/htm">Journal of Ageing and Longevity</a>, found most older people are aware that dementia is a modifiable condition and that they have the power to change their dementia risk. We also found the key barrier to making brain healthy lifestyle choices was a lack of knowledge, which suggests a public awareness campaign is urgently needed. <h2>What we did</h2> We began by <a href="https://www.mdpi.com/2673-9259/2/4/21/htm">reviewing</a> the published research to identify 12 factors shown to reduce dementia risk. We surveyed 834 older Australians about their awareness of the 12 factors, which were: <ol> <li>having a mentally active lifestyle</li> <li>doing physical activity</li> <li>having a healthy diet</li> <li>having strong mental health</li> <li>not smoking</li> <li>not consuming alcohol</li> <li>controlling high blood pressure</li> <li>maintaining a healthy weight</li> <li>managing high cholesterol</li> <li>preventing heart disease</li> <li>not having kidney disease</li> <li>not having diabetes</li> </ol> <a href="https://www.thelancet.com/article/S0140-6736(20)30367-6/fulltext">The Lancet</a> subsequently published its own list of factors that help reduce dementia risk, which covered much the same territory (but included a few others, such as reducing air pollution, treating hearing impairment and being socially engaged). Of course, there is no way to cut your dementia risk to zero. Some people do all the “right” things and still get dementia. But there is <a href="https://www.thelancet.com/article/S0140-6736(20)30367-6/fulltext">good evidence</a> managing lifestyle factors help make it less likely you will get dementia over your lifetime. Our study shows many older Australians are quite aware, with over 75% able to correctly identify more than four of the factors in our list of 12. However, few were able to name the less well-known risk factors, such as preventing heart disease and health conditions like kidney disease. The good news is that close to half of the sample correctly identified more than six of the 12 protective factors, with mentally active lifestyle, physical activity and healthy diet in the top three spots. <h2>Two key issues</h2> Two things stood out as strongly linked with the ability to identify factors influencing dementia risk. Education was key. People who received more than 12 years of formal schooling were more likely to agree that dementia was a modifiable condition. We are first exposed to health management in our school years and thus more likely to form healthier habits. Age was the other key factor. Younger respondents (less than 75 years old) were able to accurately identify more protective factors compared to older respondents. This is why health promotion initiatives and public education efforts about dementia are vital (such as Dementia Awareness Month and <a href="https://www.memorywalk.com.au/">Memory, Walk and Jog initiatives</a>). <h2>How can these findings be used in practice?</h2> Our findings suggest we need to target education across the different age groups, from children to older Australians. This could involve a <a href="https://onlinelibrary.wiley.com/doi/full/10.1111/ajag.13049">whole system approach</a>, from programs targeted at <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5858574/#:%7E:text=Family%20Coaching%20has%20specific%20goals,to%20problem%20solve%20challenging%20situations.">families</a>, to educational sessions for school-aged children, to involving GPs in awareness promotion. We also need to tackle barriers that hinder dementia risk reduction. This means doing activities that motivate you, finding programs that suit your needs and schedule, and are accessible. <h2>What does this mean for you?</h2> Reducing your dementia risk means recognising change starts with you. We are all familiar with the everyday challenges that stop us from starting an exercise program or sticking to a meal plan. There are simple and easy changes we can begin with. Our team has developed a program that can help. We are offering limited <a href="https://www.brainbootcamp.com.au/">free brain health boxes</a>, which include information resources and physical items such as a pedometer. These boxes aim to help rural Australians aged 55 years and over to adopt lifestyle changes that support healthy brain ageing. If you’re interested in signing up, visit our <a href="https://www.brainbootcamp.com.au">website</a>. Now is the time to think about your brain health. Let’s start now.<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/191504/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/joyce-siette-1377445">Joyce Siette</a>, Research Theme Fellow, <a href="https://theconversation.com/institutions/western-sydney-university-1092">Western Sydney University</a> and <a href="https://theconversation.com/profiles/laura-dodds-1378067">Laura Dodds</a>, PhD Candidate, <a href="https://theconversation.com/institutions/western-sydney-university-1092">Western Sydney University</a> Image credits: Shutterstock 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/these-12-things-can-reduce-your-dementia-risk-but-many-australians-dont-know-them-all-191504">original article</a>. </div>

Mind

No credit score? A grocery list could be the next best thing

<div class="theconversation-article-body"><a href="https://theconversation.com/profiles/joonhyuk-yang-1548700">Joonhyuk Yang</a>, <a href="https://theconversation.com/institutions/university-of-notre-dame-990">University of Notre Dame</a> and <a href="https://theconversation.com/profiles/jung-youn-lee-1548702">Jung Youn Lee</a>, <a href="https://theconversation.com/institutions/jones-graduate-school-of-business-at-rice-university-5411">Jones Graduate School of Business at Rice University</a> How you shop and what you buy at the grocery store can predict whether you pay your credit card bills on time, <a href="https://doi.org/10.1287/mnsc.2022.02364">our new research shows</a>. As <a href="https://mendoza.nd.edu/mendoza-directory/profile/joonhyuk-yang/">marketing</a> <a href="https://business.rice.edu/person/jung-youn-lee">professors</a>, we wanted to learn about alternatives to traditional credit scores. So we teamed up with a multinational conglomerate that, among other things, runs a large supermarket chain and a credit card issuer. By analyzing consumer-level data from those two business units, we were able to see how 30,089 individuals shop and manage their finances. We found that people with more consistent grocery shopping habits are more likely to pay their credit card bills on time. These are people who tend to shop on the same day of the week, spend about the same amount each month, buy similar items across trips and take advantage of deals regularly. We also found that what people buy predicts how they manage their finances. For example, shoppers who frequently purchase cigarettes or energy drinks are more likely to miss credit card payments. Those who often buy fresh milk or salad dressing tend to be more diligent about paying their bills. In general, buying healthier but less convenient food predicted responsible payment behaviors. This was true even when we held consumer characteristics such as income, occupation, credit score and family size constant. Building on those findings, we developed a credit scoring algorithm that scores people based on their grocery shopping habits along with traditional credit risk indicators. When we simulated approval decisions with this algorithm, we found that using grocery data could help lenders predict defaults more accurately while boosting their per-customer profits. <h2>Why it matters</h2> According to the World Bank, <a href="https://www.worldbank.org/en/publication/globalfindex">more than 1 billion people</a> worldwide lack access to formal financial systems and, as a result, have no credit scores. In the U.S. alone, <a href="https://www.consumerfinance.gov/data-research/research-reports/who-are-credit-invisibles/">about 45 million adults</a> have no credit history or not enough of one to generate a score. This makes it hard for them to access credit, even if they are responsible borrowers. And without credit, it’s harder to get a car, a job or even a place to live. It’s a problem that disproportionately affects <a href="https://www.worldbank.org/en/publication/globalfindex">underprivileged groups</a>, including people of color and women. In response, policymakers and researchers are increasingly interested in using alternative data sources to assess creditworthiness. For instance, <a href="https://www.cnbc.com/2024/07/17/how-on-time-rent-payments-help-credit-invisible-consumers.html">Fannie Mae now considers</a> mortgage applicants’ rent payment histories, allowing those without traditional credit histories to demonstrate their creditworthiness. Grocery data is especially promising because there’s so much of it. Pretty much everybody buys groceries, and not just once. Information about consumer preferences is continuously being generated in every aisle of grocery stores around the globe. Our study shows that this data has value far beyond the grocery industry. <h2>What’s next</h2> We believe that our study serves as a proof of concept, offering insights for the design and implementation of future research. However, several key questions remain. For example, what if this approach affects different groups unequally? And what about privacy concerns? Our follow-up research aims to address these issues. We’re collaborating with a conglomerate in Peru, a cash-reliant country with a significant unbanked population. Building upon our current findings, we’re working closely with that company to test the impact of our approach on low-income populations. We’ll be helping to evaluate credit applicants using retail transaction data, aiming not just to improve profitability but also to boost social inclusion in the region. The <a href="https://theconversation.com/us/topics/research-brief-83231">Research Brief</a> is a short take on interesting academic work.<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/234887/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/joonhyuk-yang-1548700">Joonhyuk Yang</a>, Assistant Professor of Marketing, Mendoza College of Business, <a href="https://theconversation.com/institutions/university-of-notre-dame-990">University of Notre Dame</a> and <a href="https://theconversation.com/profiles/jung-youn-lee-1548702">Jung Youn Lee</a>, Assistant Professor of Marketing, <a href="https://theconversation.com/institutions/jones-graduate-school-of-business-at-rice-university-5411">Jones Graduate School of Business at Rice University</a> Image credits: Shutterstock 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/no-credit-score-a-grocery-list-could-be-the-next-best-thing-234887">original article</a>. </div>

Money & Banking

Your friend has been diagnosed with cancer. Here are 6 things you can do to support them

<div class="theconversation-article-body"> <a href="https://theconversation.com/profiles/stephanie-cowdery-2217734">Stephanie Cowdery</a>, <a href="https://theconversation.com/institutions/deakin-university-757">Deakin University</a>; <a href="https://theconversation.com/profiles/anna-ugalde-2232654">Anna Ugalde</a>, <a href="https://theconversation.com/institutions/deakin-university-757">Deakin University</a>; <a href="https://theconversation.com/profiles/trish-livingston-163686">Trish Livingston</a>, <a href="https://theconversation.com/institutions/deakin-university-757">Deakin University</a>, and <a href="https://theconversation.com/profiles/victoria-white-1888110">Victoria White</a>, <a href="https://theconversation.com/institutions/deakin-university-757">Deakin University</a> Across the world, <a href="https://www.who.int/news/item/01-02-2024-global-cancer-burden-growing--amidst-mounting-need-for-services">one in five</a> people are diagnosed with cancer during their lifetime. By age 85, almost <a href="https://www.cancer.org.au/cancer-information/what-is-cancer/facts-and-figures">one in two</a> Australians will be diagnosed with cancer. When it happens to someone you care about, it can be hard to know what to say or how to help them. But providing the right support to a friend can make all the difference as they face the emotional and physical challenges of a new diagnosis and treatment. Here are six ways to offer meaningful support to a friend who has been diagnosed with cancer. <h2>1. Recognise and respond to emotions</h2> When facing a cancer diagnosis and treatment, it’s normal to experience a range of <a href="https://www.canceraustralia.gov.au/impacted-by-cancer/emotions#:%7E:text=It's%20likely%20that%20feelings%20will,these%20feelings%20ease%20with%20time">emotions</a> including fear, anger, grief and sadness. Your friend’s moods may fluctuate. It is also common for feelings to <a href="https://link.springer.com/article/10.1007/s00520-014-2492-9">change over time</a>, for example your friend’s anxiety may decrease, but they may feel more depressed. Some friends may want to share details while others will prefer privacy. Always ask permission to raise sensitive topics (such as changes in physical appearance or their thoughts regarding fears and anxiety) and don’t make assumptions. It’s OK to tell them you feel awkward, as this acknowledges the challenging situation they are facing. When they feel comfortable to talk, follow their lead. Your support and willingness <a href="https://www.cancervic.org.au/get-support/stories/what-to-say-and-not-say.html">to listen without judgement</a> can provide great comfort. You don’t have to have the answers. Simply acknowledging what has been said, providing your full attention and being present for them will be a great help. <h2>2. Understand their diagnosis and treatment</h2> <a href="https://onlinelibrary.wiley.com/doi/full/10.1002/pon.4722">Understanding</a> your friend’s diagnosis and what they’ll go through when being <a href="https://www.cancer.org/cancer/caregivers/what-a-caregiver-does/treatment-timeline.html">treated</a> may be helpful. Being informed can reduce your own worry. It may also help you to listen better and reduce the amount of explaining your friend has to do, especially when they’re tired or overwhelmed. Explore reputable sources such as the <a href="https://www.cancer.org.au/">Cancer Council website</a> for accurate information, so you can have meaningful conversations. But keep in mind your friend has a trusted medical team to offer personalised and accurate advice. <h2>3. Check in regularly</h2> Cancer treatment can be isolating, so regular check-ins, texts, calls or visits can help your friend feel less alone. Having a normal conversation and sharing a joke can be very welcome. But everyone copes with cancer differently. Be patient and flexible in your support – some days will be harder for them than others. Remembering key dates – such as the next round of chemotherapy – can help your friend feel supported. Celebrating milestones, including the end of treatment or anniversary dates, may boost morale and remind your friend of positive moments in their cancer journey. Always ask if it’s a good time to visit, as your friend’s immune system <a href="https://www.cancerresearchuk.org/about-cancer/what-is-cancer/body-systems-and-cancer/the-immune-system-and-cancer#:%7E:text=to%20fight%20cancer-,Cancer%20and%20treatments%20may%20weaken%20immunity,high%20dose%20of%20steroids">may be compromised</a> by their cancer or treatments such as chemotherapy or radiotherapy. If you’re feeling unwell, it’s best to postpone visits – but they may still appreciate a call or text. <h2>4. Offer practical support</h2> Sometimes the best way to show your care is through practical support. There may be different ways to offer help, and what your friend needs might change at the beginning, during and after treatment. For example, you could offer to pick up prescriptions, drive them to appointments so they have transport and company to debrief, or wait with them at appointments. Meals will always be welcome. However it’s important to remember cancer and its treatments may <a href="https://www.cancer.gov/about-cancer/treatment/side-effects/nutrition#effects-of-cancer-treatment-on-nutrition">affect</a> taste, smell and appetite, as well as your friend’s ability to eat enough or absorb nutrients. You may want to check first if there are particular foods they like. <a href="https://www.cancervic.org.au/downloads/resources/booklets/nutrition-cancer.pdf">Good nutrition</a> can help boost their strength while dealing with the side effects of treatment. There may also be family responsibilities you can help with, for example, babysitting kids, grocery shopping or taking care of pets. <h2>5. Explore supports together</h2> Studies <a href="https://pubmed.ncbi.nlm.nih.gov/35834503/">have shown</a> mindfulness practices can be an effective way for people to manage anxiety associated with a cancer diagnosis and its treatment. If this is something your friend is interested in, it may be enjoyable to explore classes (either online or in-person) together. You may also be able to help your friend connect with organisations that provide emotional and practical help, such as the Cancer Council’s <a href="https://www.cancer.org.au/support-and-services/cancer-council-13-11-20">support line</a>, which offers free, confidential information and support for anyone affected by cancer, including family, friends and carers. <a href="https://www.researchgate.net/publication/5659099_Systematic_review_of_peer-support_programs_for_people_with_cancer">Peer support groups</a> can also reduce your friend’s feelings of isolation and foster shared understanding and empathy with people who’ve gone through a similar experience. GPs <a href="https://pubmed.ncbi.nlm.nih.gov/34333571/">can help</a> with referrals to support programs. <h2>6. Stick with them</h2> Be committed. Many people feel <a href="https://pmc.ncbi.nlm.nih.gov/articles/PMC11120751/">isolated</a> after their treatment. This may be because regular appointments have reduced or stopped – which can feel like losing a safety net – or because their relationships with others have changed. Your friend may also experience emotions such as worry, lack of confidence and uncertainty as they adjust to a <a href="https://www.cancer.gov/about-cancer/coping/survivorship/new-normal">new way of living</a> after their treatment has ended. This will be an important time to support your friend. But don’t forget: looking after <a href="https://www.healthdirect.gov.au/caring-for-someone-with-cancer">yourself</a> is important too. Making sure you eat well, sleep, exercise and have emotional support will help steady you through what may be a challenging time for you, as well as the friend you love. <a href="https://www.deakin.edu.au/faculty-of-health/research/cancer-carer-hub">Our research</a> team is developing new programs and resources to support carers of people who live with cancer. While it can be a challenging experience, it can also be immensely rewarding, and your small acts of kindness can make a big difference.<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/239844/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/stephanie-cowdery-2217734">Stephanie Cowdery</a>, Research Fellow, Carer Hub: A Centre of Excellence in Cancer Carer Research, Translation and Impact, <a href="https://theconversation.com/institutions/deakin-university-757">Deakin University</a>; <a href="https://theconversation.com/profiles/anna-ugalde-2232654">Anna Ugalde</a>, Associate Professor & Victorian Cancer Agency Fellow, <a href="https://theconversation.com/institutions/deakin-university-757">Deakin University</a>; <a href="https://theconversation.com/profiles/trish-livingston-163686">Trish Livingston</a>, Distinguished Professor & Director of Special Projects, Faculty of Health, <a href="https://theconversation.com/institutions/deakin-university-757">Deakin University</a>, and <a href="https://theconversation.com/profiles/victoria-white-1888110">Victoria White</a>, Professor of Pyscho-Oncology, School of Psychology, <a href="https://theconversation.com/institutions/deakin-university-757">Deakin University</a> Image credits: Shutterstock 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/your-friend-has-been-diagnosed-with-cancer-here-are-6-things-you-can-do-to-support-them-239844">original article</a>. </div>

Caring

For some people dying alone is not such a bad thing – here’s why

<div class="theconversation-article-body"><a href="https://theconversation.com/profiles/glenys-caswell-142188">Glenys Caswell</a>, <a href="https://theconversation.com/institutions/university-of-nottingham-1192">University of Nottingham</a> It seems so obvious that no one should die alone that we never talk about it, but people do often die when they are alone. Sometimes they die in a way that suggests they prefer to be alone as they are coming to the end of their lives. So is it really such a bad thing to be alone when you die? When a person is dying in a hospital or a care home it is common for the nurses caring for them to summon their family. Many people will have the experience of trying to <a href="http://journals.sagepub.com/doi/abs/10.2190/OM.55.3.d">keep vigil beside a family member</a>. It is hard – as everyday life goes on regardless – and it can be emotionally exhausting. Sometimes, the relative will die when their family have gone to make a phone call or get a cup of tea, leaving the family feeling distressed and guilty for not being there when they died. There is plenty of research literature, from many countries, devoted to trying to decide <a href="http://www.sciencedirect.com/science/article/pii/S0885392415001578">what makes a good death</a>. There are differences to be found between countries, but similarities too. One similarity is a belief that <a href="http://www.sciencedirect.com/science/article/pii/S106474811600138X?via%3Dihub">no one should die alone</a>. This idea sits well with the view of dying that can be found in many different places. When interviewed as research participants, health professionals – and <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC2904589/">nurses in particular</a> – commonly say that no one should die alone. There are also many cultural references that suggest that to die alone is a bad thing. Consider, for example, the death of Ebenezer Scrooge in Dickens’s <a href="https://www.gutenberg.org/files/46/46-h/46-h.htm">A Christmas Carol</a>, or the death of Nemo, the law writer in <a href="http://www.gutenberg.org/files/1023/1023-h/1023-h.htm">Bleak House</a>. These are both sad, dark, lonely deaths of a kind to be avoided. Celebrity deaths, such as those of comedian and actress <a href="https://www.theguardian.com/culture/2016/apr/20/victoria-wood-dies-aged-62-comedian">Victoria Wood</a> or <a href="http://www.bbc.co.uk/news/entertainment-arts-35278872">David Bowie</a>, are described in the news as peaceful or good when they are surrounded by family. Ordinary people who die alone make the news when the person’s body is undiscovered for a long time. When this happens the death is likely to be described in <a href="http://www.sciencedirect.com/science/article/pii/S027795360300577X?via%3Dihub">negative terms</a>, such as shocking, lonely, tragic or as a sad indictment of society. <h2>Some people prefer to be alone</h2> Of course, it may be the case that many people would prefer to have their family around them when they are dying. But there is <a href="http://www.tandfonline.com/doi/full/10.1080/21582041.2015.1114663">evidence</a> that suggests that some people would <a href="http://www.sciencedirect.com/science/article/pii/S0277953615003482?via%3Dihub">prefer to be alone </a> as they are coming to the end of their lives. My own <a href="http://www.tandfonline.com/doi/full/10.1080/13576275.2017.1413542">research</a> found that while hospice-at-home nurses believe that no one should die alone, they had seen cases where a person died after their family members had left the bedside. The nurses believed that some people just want to be on their own when they are dying. They also thought that people may have a measure of control over when they die, and choose to do so when their family are not around. In the same study, I also talked to older people who were living alone to find out their views about dying alone. I was intrigued to learn that dying alone was not seen as something that is automatically bad, and for some of the older people it was to be preferred. For some people in this group, dying was not the worst thing that could happen – being trapped in a care home was considered to be far worse than dying alone. Cultural representations of dying suggest that being alone while dying is a dreadful thing. This view is supported by healthcare policy and the practices of health professionals, such as nurses. But we all know people who prefer to be left alone when they are ill. Is it so surprising then that some might wish to be alone when they are dying? It is time we began to talk about this and to accept that we want different things in our dying as we do in our living. Openness created through discussion might also help to remove some of the guilt that family members feel when they miss the moment of their relative’s death.<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/90034/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/glenys-caswell-142188">Glenys Caswell</a>, Senior Research Fellow, <a href="https://theconversation.com/institutions/university-of-nottingham-1192">University of Nottingham</a> Image credits: Shutterstock 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/for-some-people-dying-alone-is-not-such-a-bad-thing-heres-why-90034">original article</a>. </div>

Caring

How one elderly couple made their big move to Italy

US couple Tony Smarrelli, 74, and his wife, Francine, 75, were celebrating their 50th wedding anniversary in Venice, Italy when they decided to move to Italy for good. The Smarrelli's, who are retired elementary teachers from New York and both of Italian descent relocated to the picturesque coastal town of Scalea in southern Italy. “We were in St Mark’s Square (in Venice) when a quartet started playing (classic Italian song) Malafemmina,” Tony recalled the day they decided to make the big move. “It brought tears to my eyes, because my father would put on his Italian records every Sunday for dinner and would sing that song to my mother.” Looking to reconnect with their Italian roots, they purchased a 139 metre property with three bedrooms, a dining room and a walk-in-closet for for €150,000 ($A247,754) in November 2023. “We flew to Italy for the second time in 2023 and put an offer in for that home. We then secured our visas in the US in three hours, sold our home (in the US), packed up our belongings and flew back to Italy in December 2023,” Tony said. While their home in the peaceful coastal time was already livable when they bought it, the couple chose to renovate it, spending an extra €80,000 (about $A132,086) to retile the property, add a new plumbing and electric system, as well as two new bathrooms, an entire kitchen, doors, windows and screens. The property was renovated within four-months, and they said that a similar home in the US would have been nearly impossible for them to afford. “It would be easily $US1 ($A1.5) million to $2 million to live on a coast of South California or (a place with) any coastal views on the Eastern Seaboard,” Tony said. Tony's father and grandfather initially immigrated to the US in 1983 to make a better life for themselves, now 86 years later, Tony has returned to his homeland. “Some of my best friends said it takes a lot of guts to pick up and move to another country at 74 years of age. “I tell them it took guts for my father and grandfather to come to another country on a boat for eight weeks with no home, no work, very little money, no resources to make a better life for themselves,” Tony said. “In our modern world, it’s just a lifestyle change and for us, it was a good choice.” The couple said since their big move, they've cut back nearly y $3000 ($A4574) per month on expenses, which amounts to $36,000 ($A54,894) a year. The couple now spends about $1200 ($A1825) a month between the two of them. Back in the US, the couple's mortgage alone was $US1500 per month ($A2281) “Monthly expenses in the US before leaving were between $US4800 to $US5000 a month. In all we are about $US3000 less monthly living here in Italy,” Tony said. Tony plans to apply for an Italian citizenship, and while his father was naturalised as an American citizen before he was born, he plans to rectify this by appealing to a local court. Images: CNN

International Travel

Borrowing money isn’t always a bad thing – debt can be a sensible way to build wealth

<div class="theconversation-article-body"><a href="https://theconversation.com/profiles/bomikazi-zeka-680577">Bomikazi Zeka</a>, <a href="https://theconversation.com/institutions/university-of-canberra-865">University of Canberra</a> Debt, in some form or another, is part of our financial profiles whether we like it or not. And it can be a useful way to build wealth if it is managed carefully and wisely. For example, you may borrow money from the bank to buy an asset – a resource of economic value that generates income from its productive use. Investment property is an example. So investing in an income-producing property can be a good idea. If you are already in the property market, the home equity you’ve accumulated – the share of the property value that’s yours – can help you buy a second property. This time, you may not need a deposit as big as the initial investment. In the event that the rental market is booming and your tenants pay you more than what you repay on the loan, municipal rates and property manager fees, then the wealth-building machine will start to run itself. But debt makes many people uncomfortable. In South Africa, a person earning R20,000 a month commits on average <a href="https://businesstech.co.za/news/finance/585372/south-africas-middle-class-is-in-serious-trouble-right-now/">63% of their salary to repaying unsecured debt</a> – such as credit cards, personal loans, overdrafts or “buy now, pay later” facilities. As a general guideline, it’s suggested that <a href="https://www.investopedia.com/terms/d/dti.asp">no more than 40%</a> of your income should be used to service debt. Financial anxiety has its roots in some misconceptions. The main one is that all debt is bad. This isn’t true. Prudent borrowing to buy an asset can help build wealth in the medium to long term. So fears about debt need to be weighed against a broader understanding of wealth accumulation. Well-managed debt can play a role in that process. Here are the four biggest misconceptions about debt. Recognising them will help you develop a more nuanced approach to debt. <h2>The misconceptions</h2> All debt is bad debt. Indeed, debt is a problem when you can no longer manage it and it starts to manage you. One of the simplest ways to tell whether debt is working for you or against you is through “leveraging”. This refers to the use of debt to acquire an asset that is worth more than the value of the debt. It’s also known as positive or favourable leveraging. People who take out unsecured loans are leveraging unfavourably when the debt is driven by consumption. Often there’s nothing to show for what you’ve spent. Unsecured loans also tend to charge higher interest rates to compensate for the lack of collateral. Only financially reckless people are in debt. This is the next misconception. Second to unsecured loans, most South African consumer debt portfolios are taken up by <a href="https://businesstech.co.za/news/wealth/617685/these-income-levels-in-south-africa-owe-the-most-debt/">home loans</a>. The most realistic way to gain entry into the housing market is through a mortgage. You’re doing the right thing if your mortgage is paid off within a reasonable time. This will mean that, in the long term, the value of the property will surpass the home loan amount that was taken out to buy the property in the first place. But there are two misconceptions related specifically to mortgages. After you’ve paid the mortgage deposit, you won’t have other fees to pay. This isn’t correct. Banks charge a fee to open and close a home loan account. There can also be a penalty when a home loan is repaid prematurely. So be sure to read the fine print about discharge fees or closing costs. If you stick to the repayment amount for your mortgage, you’ll be able to repay the loan quickly. This isn’t true – even if interest rates fall and your mortgage repayments decline, your home loan is most likely tied to a loan term of 20 to 30 years. Many banks will quote a monthly mortgage repayment amount that seems affordable at face value but is in fact based on a 20-year term period. Banks are businesses and it works in their favour if you take longer to repay your mortgage because that translates into more interest repayments. The longer the duration of the home loan, the more interest you pay, the more profit they make. If it takes over 20 years to repay a bond, it’s often the case that the value of the interest repayments exceeds the initial loan amount. Home loan calculators are a useful tool that can help you assess how much you could afford to repay on a home loan depending on the deposit saved, if interest rates change and how long it will take you to repay the mortgage with topped-up contributions. It is essential to have a goal for when you’d like to finish paying off your mortgage and a plan in place to achieve this goal. If you don’t do this you could become a mortgage prisoner. <h2>Keeping your eye on the prize</h2> As we’re about to conclude the year and enter the festive season, it’s a good time to remember your financial goals and not let your guard down by unconsciously swiping or tapping that credit card. “Janu-worry” is around the corner, and so is the financial anxiety that comes with it. But it need not be the case. Debt can either be the cure or the cause of your financial position. Reconsider spending patterns that prompt you to use your credit card. Too much debt over short periods is an irregular spending pattern that is a warning sign. There’s no harm in buying what you can afford or staying in your financial lane if the alternative forces you to sacrifice your hard-earned income on servicing consumption-driven debt. For better or worse, debt is a part of our financial portfolios. But the road to financial empowerment is not always easy – financial planning can help you keep your eye on the prize.<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/192630/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/bomikazi-zeka-680577">Bomikazi Zeka</a>, Assistant Professor in Finance and Financial Planning, <a href="https://theconversation.com/institutions/university-of-canberra-865">University of Canberra</a> Image credits: Shutterstock 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/borrowing-money-isnt-always-a-bad-thing-debt-can-be-a-sensible-way-to-build-wealth-192630">original article</a>. </div>

Money & Banking

Readers response: What’s one thing you wish you had known before retiring?

When it comes time to retire, there are always things we wish we knew first before entering our golden years. We asked our readers what they wish they knew before retiring, and the response was overwhelming. Here's what they said. Margaret Walsh - As long as you are fit and active, it's great. Just don't get crook or disabled, it sucks. Judi Bradshaw - I retired 9 times and kept going back to work as I didn't find myself ready to stop work, but finally retired at 73. Took awhile to adjust but now 75 and full time travellers, just loving life. Marcus von Moger - How good it was going to be. Chris Bailey - How boring it is, I’d go back to work in a heartbeat if I could. Ellen Fowler - That the government would keep changing the rules. Michael L Carrigg - Just how long it takes dealing with government departments that clearly are understaffed, especially in the front line service areas. Jim Burgess - Finding reasonably priced accommodation. Nicol Kyriakidou - That it would be so great! Having the whole day to yourself. Taking it easy, meeting friends, going shopping. Doing everything at your leisure. Gaye Johnson - You never get a day off!!! David Brown - How good it is. I should have retired 20 years earlier. Image credits: Shutterstock

Retirement Life

How to choose a legal decision-maker as you get older – 3 things to consider

<div class="theconversation-article-body"><a href="https://theconversation.com/profiles/joseph-ibrahim-252671">Joseph Ibrahim</a>, <a href="https://theconversation.com/institutions/monash-university-1065">Monash University</a> and <a href="https://theconversation.com/profiles/amelia-grossi-1280226">Amelia Grossi</a>, <a href="https://theconversation.com/institutions/monash-university-1065">Monash University</a> “It’s my life and I’ll do what I want,” <a href="https://www.youtube.com/watch?v=HNzmrEgz_GI">sang</a> Eric Burdon of The Animals to the baby boomer generation. Unfortunately, that’s not always the case. As we get older, sometimes we are no longer capable of making our own decisions. Diseases that affect the brain such as dementia, stroke and head injury can impair cognition and thinking. Some people may choose to appoint a <a href="https://www.legislation.vic.gov.au/in-force/acts/medical-treatment-planning-and-decisions-act-2016/008">medical treatment decision-maker</a> or an <a href="https://www.legislation.vic.gov.au/in-force/acts/powers-attorney-act-2014/007">enduring power of attorney</a> to make certain decisions on their behalf. Alternatively, a legal tribunal or court may appoint <a href="https://www.legislation.vic.gov.au/in-force/acts/guardianship-and-administration-act-2019/005">a guardian or trustee</a> to help guide decisions about health care, finances, accommodation and lifestyle. Who is the right person to take on this important role? Is it the family member or partner who knows you best? Or someone with time and energy? Perhaps someone who understands the services you need – like a nurse, accountant or real estate agent? The role of a decision-making representative has <a href="https://www.alrc.gov.au/publication/equality-capacity-and-disability-in-commonwealth-laws-alrc-report-124/3-national-decision-making-principles-2/will-preferences-and-rights-2/#:%7E:text=The%20'best%20interests'%20principle%20is,an%20equal%20basis%20with%20others">changed significantly</a> in recent years, shifting from a paternalistic approach to a more person-centred focus. Our <a href="https://pubmed.ncbi.nlm.nih.gov/35157838/">research</a> looks at the differences between these approaches and how subconscious bias can influence decision-making. <h2>Taking care</h2> These days, guardianship has <a href="https://www.legislation.vic.gov.au/in-force/acts/guardianship-and-administration-act-2019/005">moved</a> from deciding what’s deemed to be in the individual’s “best interests” to what best reflects their “will and preferences”. While <a href="https://www.legislation.vic.gov.au/repealed-revoked/acts/guardianship-and-administration-act-1986/089">previously</a>, decisions were made for the person by their guardian or representative, new laws require representatives to enact the person’s “will and preferences”. That is, to make decisions with them. This is an important difference. The newer model gives the represented person more autonomy over personal, financial and other decisions. It recognises that even though a person may struggle with aspects of decision-making, they should not be excluded from decisions about how they live their life. This fundamental shift was <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6313688/">earlier adopted</a> by the United Nations in the <a href="https://www.ohchr.org/en/hrbodies/crpd/pages/conventionrightspersonswithdisabilities.aspx">Convention on the Rights of Persons with Disability</a>, to which Australia is a signatory. <h2>Challenging in real world situations</h2> The will and preferences <a href="https://supporteddecisionmaking.com.au/wp-content/uploads/sites/4/2021/08/Realising-will-preferences-and-rights-reconciling-differences-on-best-practice-support-for-decision-making.pdf">framework</a> may sound simple, but it can be <a href="https://www.tandfonline.com/doi/full/10.1080/09687599.2021.1941781">challenging in practice</a>, when concepts of empowerment are tricky to define and the will of someone with cognitive difficulties is hard to discern. Representatives <a href="https://supporteddecisionmaking.com.au/wp-content/uploads/sites/4/2021/08/Realising-will-preferences-and-rights-reconciling-differences-on-best-practice-support-for-decision-making.pdf">bring their own biases, perceptions and lived experience</a> to the role of supporting another person to make decisions. This subjectivity is a natural and an inherent part of decision-making. The representative faces the challenge of setting aside their own opinion and, instead, stepping into the shoes of the represented person to give effect to what they want. A mismatch between the age, gender, ethnicity, religion or socioeconomic status of the representative and the represented person can exacerbate this challenge. An older able-bodied female, who is deeply religious and from a middle-to-high income background might find it difficult to represent a young man with a disability who is an atheist and from a working-class background. Now, imagine a scenario where the young man expresses a desire to go bungee-jumping or parachuting, despite previously showing a fear of heights. What’s his representative to do? Older people and women generally <a href="https://www.tandfonline.com/doi/abs/10.1080/1366987032000105315?journalCode=rjrr20">have a lower appetite for risk</a>, as do those who have a faith and with a high socioeconomic status. A heightened perception of danger or a feeling the activity as frivolous, may lead to the representative reframing the situation with their subconscious bias. They may fail to respect the younger person’s will and preferences. Understanding what might shape a representative’s approach to decision-making is essential. Especially when decisions involve <a href="https://theconversation.com/do-you-want-to-be-resuscitated-this-is-what-you-should-think-about-before-deciding-105506">health</a> or <a href="https://theconversation.com/theres-no-need-to-lock-older-people-into-nursing-homes-for-their-own-safety-73954">living arrangements</a>. <h2>3 things to look for when selecting a legal decision-making representative</h2> 1. Deep understanding An intimate understanding of your situation is crucial. An ideal representative is someone who actively listens and has a holistic view of your circumstances. This may come from discussions with you and your loved ones. The representative must be careful your views are not outweighed by those of family or friends who are often more vocal. They should have a deep sense of who you are as an individual. 2. Self-awareness The person you choose should be able to describe their personal views and values and understand how their perspective may influence their decisions. This is vital to mitigate the effects of pre-existing bias. They should be able to reflect on their own lived experiences, to understand how their history shapes their approach to decision-making. They should be able to assess whether what you would do is the same as what they think you should do, and why. 3. Effective documentation A record of conversations between the representative and represented person often helps to illuminate a person’s will and preferences. Writing or recording compels us to commit to an idea and explain what we mean. It helps to clarify what is intended far better than a one-time conversation that may be remembered differently by participants. Further research is needed to better match representatives with represented persons. Improved tools are needed to identify the role of bias in decision-making and evaluate whether the represented person’s wills and preferences are being respected.<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/177631/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/joseph-ibrahim-252671">Joseph Ibrahim</a>, Professor, Health Law and Ageing Research Unit, Department of Forensic Medicine, <a href="https://theconversation.com/institutions/monash-university-1065">Monash University</a> and <a href="https://theconversation.com/profiles/amelia-grossi-1280226">Amelia Grossi</a>, , <a href="https://theconversation.com/institutions/monash-university-1065">Monash University</a> Image credits: Shutterstock 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/how-to-choose-a-legal-decision-maker-as-you-get-older-3-things-to-consider-177631">original article</a>. </div>

Legal

10 things you should never do on a cruise balcony

While many cruise ship passengers may think they can abide by their own rules in the comfort of their cabins, there are still many cruise ship etiquette rules to follow. Even though some passengers may have private balconies in their rooms, that doesn't mean you can act as if no one is watching. It's important to follow these rules while in your rooms and on your balcony to ensure you'll never be forced to cop the consequences of bad behaviour. 1. Smoke Smoking on cruise balconies is a real no-no. Not only is the wafting smoke an unpleasant smell, but a half-burning cigarette blown back aboard can potentially be a fire hazard. 2. Make too much noise One think that’s often forgotten is the fact that when we’re standing on our cruise ship balconies we’re well within earshot of our neighbours, so keep the volume down. 3. Go nude The thing people sun bathing in one their cruise ship balcony in their birthday suit don’t realise is many balconies are tiered, so you may actually be in view of others. 4. Stand or climb on railings Now this should be obvious, but you should never stand on the railings or the verandah furniture can significantly increase your risk of being thrown overboard. 5. Throw items overboard It might be tempting to toss a message in a beer bottle overseas, but there are strict regulations. Not only is this dangerous, it’s also not environmentally friendly. 6. Dry clothes It can be quite difficult to dry your swimmers when you’re off a cruise, but one strong gust of wind could mean you could go the rest of your cruise without bathers. 7. Leave the balcony door open On a hot and humid day, leaving the balcony door ajar might seem like a good idea, but the gusty sea breeze can wreak havoc with any loose items in your cabin. 8. Light a candle It might seem like it’s a good way to enhance the mood, but any open flame on a cruise ship is a fire hazard, and lighting a candle is almost always against regulations. 9. Leave the balcony light on If your cruise balcony has outdoor lighting, make sure you turn if off when you’re not actually using it, to save electricity and not disturb your neighbours. 10. Amorous behaviour Cruises are inherently romantic holidays, but you might need to avoid overt displays of affection. As mentioned above, balconies are not be as private as you think. Image credits: Shutterstock

Cruising

Is there anything good about menopause? Yep, here are 4 things to look forward to

<div class="theconversation-article-body"><a href="https://theconversation.com/profiles/yvonne-middlewick-1395795">Yvonne Middlewick</a>, <a href="https://theconversation.com/institutions/edith-cowan-university-720">Edith Cowan University</a> Menopause is having a bit of <a href="https://journals.sagepub.com/doi/full/10.1177/13675494231159562">a moment</a>, with less stigma and more awareness about the changes it can bring. A recent senate inquiry <a href="https://www.aph.gov.au/Parliamentary_Business/Committees/Senate/Community_Affairs/Menopause/Report">recommended</a> public education about perimenopause and menopause, more affordable treatments and flexible work arrangements. But like many things in life the experiences of menopause are on a continuum. While some women find it challenging and require support, others experience some physical and emotional benefits. These are rarely reported – but we can learn from the research available and, importantly, from people’s lived experiences. Here are four changes to look forward to once you reach menopause. <h2>1. No more periods or related issues</h2> <a href="https://theconversation.com/what-are-the-most-common-symptoms-of-menopause-and-which-can-hormone-therapy-treat-225174">Menopause</a> is considered “complete” 12 months after the final period of a woman (or person assigned female at birth) who previously menstruated. Perhaps unsurprisingly, the benefit at the top of the list is no more periods (unless you are taking hormone therapy and still have your womb). This can be particularly beneficial for women who have had to manage <a href="https://www.mdpi.com/1660-4601/18/4/1951">erratic, unpredictable and heavy bleeding</a>. At last, you don’t need to keep sanitary protection in every bag “just in case”. No more planning where the bathroom is or having to take extra clothes. And you’ll save money by not purchasing sanitary products. There is also good news for women who have had heavy bleeding due to uterine fibroids – common benign gynaecological tumours that affect up to 80% of women. The evidence <a href="https://journals.lww.com/menopausejournal/abstract/2020/02000/uterine_fibroids_in_menopause_and_perimenopause.17.aspx">suggests</a> hormonal changes (for women not taking hormone therapy) can lead to a reduction in the size of fibroids and relieve symptoms. Women who suffer from menstrual migraine may experience an improvement in migraines post-menopause as their hormonal fluctuations begin to settle – but the timeframe for this <a href="https://www.maturitas.org/article/S0378-5122(20)30329-7/abstract">remains unclear</a>. For some women, no more periods also means more participation in social activities from which they may have been excluded due to periods. For example, <a href="https://www.tandfonline.com/doi/full/10.1080/08952841.2014.954502">religious activities or food preparation</a> in some cultures. <h2>2. Getting your body and your groove back</h2> Throughout their reproductive lives, women in heterosexual relationships are usually the ones expected to be <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6115298/">proactive about preventing pregnancy</a>. Some post-menopausal women <a href="https://www.tandfonline.com/doi/full/10.1080/08952841.2018.1396783">describe</a> a re-emergence of their sexuality and a sense of sexual freedom that they had not previously experienced (despite contraceptive availability) as there is no longer a risk of pregnancy. A participant in my research <a href="https://eprints.soton.ac.uk/451254/">into women’s experiences of menopause</a> described the joy of no longer being child-bearing age: <blockquote> I’ve got a body back for me, you know, coz I can’t get pregnant, not that I haven’t enjoyed having [children] and things like that and it was a decision to get pregnant but I feel like, ooh my body isn’t for anybody now but me, people, you know? </blockquote> For women who have chosen to be child-free there may also be a sense of freedom from social expectations. People will likely stop asking them when they are planning to have children. <h2>3. A new chapter and a time to focus on yourself</h2> Another participant <a href="https://eprints.soton.ac.uk/451254/">described</a> menopause as an unexpected “acceleration point” for change. Women told us they were more accepting of themselves and their needs rather than being focused on the needs of other people. Researchers have previously <a href="https://sk.sagepub.com/books/individualization">tracked this shift</a> from “living for others” to “a life of one’s own”. Some women find the strength of emotions at this time a challenge, whereas others find their potency can <a href="https://doi.org/10.1145/3290605.3300710">facilitate liberation</a> – enabling them to speak their minds or be more assertive than at any other time in their lives. <h2>4. Increased self-confidence</h2> A new sense of liberation can fuel increased self-confidence at menopause. This has been <a href="https://doi.org/10.1145/3290605.3300710">reported</a> in studies based on in-depth <a href="https://doi.org/10.1080/0167482X.2016.1270937">interviews with women</a>. Confidence boosts can coincide with <a href="https://eprints.soton.ac.uk/451254/">changes in career and sometimes in relationships</a> as priorities and self-advocacy transform. <h2>Life on the other side</h2> It can be hard to think about what is good about menopause, particularly if you are having challenges during perimenopause – but these can get better with time. In <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6910086/">cultures where women are valued as they become older</a>, women describe themselves as positively contributing to the community. They find they gain power and respect as they age. We need to work towards more positive societal attitudes on this front. Our bodies change across the lifespan and are remarkable at every stage, including menopause.<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/239725/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/yvonne-middlewick-1395795">Yvonne Middlewick</a>, Nurse, Lecturer & Director of Post-graduate Studies in the School of Nursing and Midwifery, <a href="https://theconversation.com/institutions/edith-cowan-university-720">Edith Cowan University</a> Image credits: Shutterstock 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/is-there-anything-good-about-menopause-yep-here-are-4-things-to-look-forward-to-239725">original article</a>. </div>

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Is there anything good about menopause? Yep, here are 4 things to look forward to

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