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“I’m meant to be an expert”: David Koch reveals unexpected info about finances

<p>Sunrise host and financial guru David ‘Kochie’ Koch spilt some unexpected information about his own finances recently. </p> <p>Sunrise had Sally Tindall on as a guest, and Kochie spoke to her about how Australian mortgage holders can protect themselves against the Reserve Bank’s continued interest rate rises.</p> <p>RateCity research director Ms Tindall advised anyone with stress surrounding their mortgage to speak to their bank first to discuss all their options, allowing them to “make an informed decision.”</p> <p>“That word, ‘informed’. I reckon the first step is to go and check how much you’re paying on your loan,” Kochie said.</p> <p>“I’m meant to be an expert… Two weeks ago, I went and checked mine. I was paying 6% per cent!”</p> <p>“Kochie, you can do better than that,” Ms Tindall joked.</p> <p>“I went to the bank and said, ‘I need a discount.’ Three-quarters of a per cent, they cut. In one go! And I’ve asked for a discount before and thought, ‘Oh, I must still be on a great rate.’ But go and check what you’re paying.”</p> <p>Kochie has had a long public career as a financial expert, so this confession came as a surprise to viewers. Before becoming a host on Sunrise, he created financial titles, including Business Magazine, New Accountant and Money Management magazine.</p> <p>Kochie is also a published author, writing multiple books on finance, including Kochie’s 11-Step Money Plan For A Better Life, Money Basics For Tough Times and Financial Survival For Australians.</p> <p>Ms Tindall called any interest rate that mortgage holders can secure from their bank “the gift that keeps on giving.”</p> <p>“Not only does it drop your repayments in the next instalment, but it also does that for the life of your loan, provided you keep that discount,” she told Kochie.</p> <p>The on-air chat comes in the wake of the RBA lifting interest rates to 3.35% last week from a record low of 0.1% back in April 2022.</p> <p>Kochie had also recently warned viewers that scammers have been using his images on social media to lure unsuspecting users into clicking on risky links.</p> <p>“Beware… 2023 and the financial scams keep on coming more than ever,” Koch wrote on Instagram, sharing multiple images of dodgy ads that purported to reveal “how he makes his money” and other financial tips but instead led those who click on them to scam websites.”</p> <p>Photo credit: Getty</p>

Money & Banking

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Guy Sebastian reveals insider info from The Voice

<p><em><span style="font-weight: 400;">The Voice</span></em><span style="font-weight: 400;"> judge Guy Sebastian has revealed just how much of the wildly popular show is controlled by producers.</span></p> <p><span style="font-weight: 400;">With the show currently bringing in more than one million views a night, Sebastian has explained that its success comes from more than just the amazing performances.</span></p> <p><span style="font-weight: 400;">“I think the producers go into it with a fair bit of thought,” Sebastian told </span><em><a rel="noopener" href="https://au.lifestyle.yahoo.com/the-voice-guy-sebastian-reveals-behind-the-scenes-coach-secrets-071139280.html" target="_blank"><span style="font-weight: 400;">Yahoo! Lifestyle</span></a></em><span style="font-weight: 400;">.</span></p> <p><span style="font-weight: 400;">“For example, they’ll have some people that are pretty good, and then towards the end of the session when we’re a bit tired and we are desperate for a lift, they’ll put in this ‘wow’ singer.</span></p> <p><span style="font-weight: 400;">“And I think sometimes it might look like we’re being over the top, but we’ve probably sat through some mediocrity for a little while and then there’s someone that’s like, oh my gosh.”</span></p> <p><img style="width: 500px; height:261.45833333333337px;" src="https://oversixtydev.blob.core.windows.net/media/7843385/voice4.jpg" alt="" data-udi="umb://media/8643675a813140cf8bcf74fc9a6307b8" /></p> <p><em><span style="font-weight: 400;">Image: Channel 7</span></em></p> <p><span style="font-weight: 400;">Sebastian also shared details about the little red notebooks each judge has sitting next to them in their chairs, revealing that they contain information the producers want the judges to know.</span></p> <p><span style="font-weight: 400;">“It’ll sort of just say like, what state they’re from. There’s no names, no gender or anything like that,” Sebastian explained.</span></p> <p><span style="font-weight: 400;">“We never get told anything about who they are, we don’t get told the song.<br />“But if it’s a really random song, like one that’s some B-side Whitesnake or Radiohead or something that not everyone knows, we get told that so we don’t think it’s an original.”</span></p> <p><img style="width: 500px; height:261.45833333333337px;" src="https://oversixtydev.blob.core.windows.net/media/7843386/voice3.jpg" alt="" data-udi="umb://media/62352dff2c434c89bf2cf4bd7efe8dfa" /></p> <p><em><span style="font-weight: 400;">Image: Channel 7</span></em></p> <p><span style="font-weight: 400;">While the star singer admitted he didn’t want to “give away TV secrets”, he disclosed that the books also include notes directing judges on who they should turn their chairs around for.</span></p> <p><span style="font-weight: 400;">“This season we’ve got unlimited chair turns so sometimes if there’s one coach that goes in for a chair turn, to make it more interesting, you may as well go in there and have a crack at pitching,” he said.</span></p> <p><span style="font-weight: 400;">“They don’t want the show to be all one-chair turns for some of the artists. You want the artist to feel like there are two coaches fighting over them, otherwise, how do you make a good segment out of that?</span></p> <p><span style="font-weight: 400;">“It’s just literally, ‘oh Keith is the only one that turned, so you’re stuck with Keith’.</span></p> <p><span style="font-weight: 400;">“So there are little things the producer will write in, stuff like, ‘If this is just a one-chair turn, maybe jump in’.”</span></p> <p><img style="width: 500px; height:261.45833333333337px;" src="https://oversixtydev.blob.core.windows.net/media/7843387/voice2.jpg" alt="" data-udi="umb://media/087b6b99d6d040ed8971ff7d1734f929" /></p> <p><em><span style="font-weight: 400;">Image: Channel 7</span></em></p> <p><span style="font-weight: 400;">Sebastian added that the judges will add in their own notes, but the books are mostly used for production directions.</span></p> <p><span style="font-weight: 400;">“It’ll tell you who the leading coach is, as in, ‘Keith you kick this one off with, “Hey, where are you from? What’s your name?”’.</span></p> <p><span style="font-weight: 400;">“That’s why we look at them because we’re going, ‘Is this me?’.</span></p> <p><span style="font-weight: 400;">“Otherwise, sometimes they sing and everyone just sits there if you don’t read your notebook.”</span></p> <p><span style="font-weight: 400;">Sebastian also shared that at least one judge will turn around for about 80 percent of contestants, and that those who don’t get a chair-turn should still walk away with something.</span></p> <p><img style="width: 500px; height:261.45833333333337px;" src="https://oversixtydev.blob.core.windows.net/media/7843388/voice1.jpg" alt="" data-udi="umb://media/50aa7f3748ac4ff584892900e7438ce1" /></p> <p><em><span style="font-weight: 400;">Image: Channel 7</span></em></p> <p><span style="font-weight: 400;">“What we all decided is hey, if someone didn’t get a chair turn, how do we get them to leave feeling not like a failure but feeling like we’ve given them some coaching, some tips, some technical advice, or got up and sang with them and made it a moment,” he said.</span></p> <p><span style="font-weight: 400;">“Those little things make it so there’s no disappointment or heartbreak and it just adds to the overall feeling that we’re part of something really nice.”</span></p>

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Seniors need more info about their aged care options

<p><em><strong>Lee-Fay Low, Senior Research Fellow in Psychiatry, UNSW, explains why seniors need more info about their aged care options.</strong></em></p> <p>Community-care packages have traditionally been case-managed packages of services for older people requiring residential care but wanting to stay in their home. Community-care packages in Australia have now become consumer directed, which means that, within an allocated budget, the older person will choose the services they want.</p> <p>The adage that the customer is always right presumes that customers know what they want, and understands the repercussions of their choices. In community care, it presumes that older people know what help they need to live in their own home for as long as possible.</p> <p>The change means that they have gone from being clients to customers, from passive recipients of services to active participants in managing their own care. They have carte blanche on how they spend their budget except they can’t buy food, pay rent or their mortgage, pay for holidays or entertainment or gamble, and they can’t pay family and friends to provide care.</p> <p>The system will put the older person and their family in the driver’s seat, giving them greater choice and control. It’s hoped this means common complaints about the inflexibility and non-personalised nature of services will be a thing of the past. And transparency of budgets means that customers can try to ensure they get value for money.</p> <p><strong>Too many choices</strong></p> <p>But the change has serious, perhaps unforeseen implications. Let me illustrate with an example.</p> <p>Last week, we went to buy a new television after our ten-year-old set gave up the ghost. I thought hubby and I would just be arguing to balance between size (his priority) and price (my priority).</p> <p>But we were bamboozled by questions from the salesperson. Did I want a smart TV, inbuilt DVD player, an LCD, LED, plasma or 1080p, whatever that is. We didn’t know about or understand the options.</p> <p>I think the aged-care customer is in a similarly intractable position.</p> <p>What does she need to know before being able to make an informed choice? Information about her own clinical needs is important. If you don’t know that you have high-blood pressure, for instance, you may not choose to do anything about it.</p> <p>Older people living in the community <span style="text-decoration: underline;"><strong><a href="http://www.ncbi.nlm.nih.gov/pubmed/18728300" target="_blank">often don’t realise</a></strong></span> what their clinical needs are. They also may not know the implications of their clinical needs.</p> <p>They may not realise, for instance, that their poor physical function and declining cognitive ability both <span style="text-decoration: underline;"><strong><a href="http://www.ncbi.nlm.nih.gov/pubmed/19934075" target="_blank">put them at greater risk</a></strong></span> of having to go into a nursing home.</p> <p>An older person may request that their funds be spent on home cleaning and help with the shopping. But if that person is told that he is at high risk of falling and may benefit from a physical exercise program, he may choose to forgo help with shopping and get the service to select, and pay for their attendance at a seniors’ exercise class.</p> <p><strong>In-built intractability</strong></p> <p>The Home Care Standards against which community-care providers are reviewed and accredited have not been changed in response to consumer-directed care. So there are no safeguards to ensure that service providers give customers a wider range of choices, and information about the possible repercussions of those choices.</p> <p>This is problematic in a number of ways and regulation needs to keep pace with changes in care systems.</p> <p>First, customer satisfaction <span style="text-decoration: underline;"><strong><a href="http://www.ncbi.nlm.nih.gov/pubmed/2966123" target="_blank">does not correlate</a></strong></span> with service quality, and is much more influenced by the relationship customers have with care staff. A patient may be dissatisfied with a curt doctor, for instance, even if her surgery was conducted to the highest standard.</p> <p>What’s more, a consumer-directed system provides incentives for community-care providers to keep their clients happy, but <span style="text-decoration: underline;"><strong><a href="http://www.biomedcentral.com/1472-6963/11/93" target="_blank">not necessarily provide the best care</a></strong></span> to keep them at home longer.</p> <p>It’s like doctors giving patients prescriptions because it’s what they want, rather than telling them to exercise and lose weight, which would be better for their health overall.</p> <p>We like easy solutions, not ones that require us to work. Customers want help with housework and gardening, even though in order to stay at home longer, it may be better for them to do these things themselves. It would help them maintain and improve their functional ability, and perhaps even lift their depression.</p> <p>Better, more appropriate services would be providing retraining people in lost self-care skills, and helping them increase their social network.</p> <p>Back at the shop, we decided deciding was too hard and now watch television on the computer. Shops should train their salespeople to give digestible information to those of us who don’t know anything about gadgets.</p> <p>The changes in community-care packages are much more complex and affect whether people can stay at home for the rest of our lives. More needs to be done to empower citizens who have suddenly been turned into customers.</p> <p>Do you agree with this advice?</p> <p><em>Written by Lee-Fay Low. Republished with permission of <a href="http://theconversation.com/" target="_blank"><strong><span style="text-decoration: underline;">The Conversation</span></strong></a>.</em><img width="1" height="1" src="https://counter.theconversation.com/content/15963/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation"/></p>

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