Innholdsfortegnelse for September 2025 i Money Magazine

Let me tell you, whether you're an investor or an end user, electricity is the name of the game. On top of traditional industries – think chemical, industrial, petroleum and coal – it's essential to the power-hungry data centres that are the backbone of the world's tech companies. As Sam Altman, CEO of OpenAI revealed last month, a single query on ChatGPT consumes, on average, 0.34 kWh (for the uninitiated that's enough to run an LED lightbulb for a few minutes) in these data centres. Meh. But guess how many prompts ChatGPT alone receives every day? Two and a half billion. Then there's the other players, Claude, Google Gemini, MS Copilot, DeepSeek and Perplexity to name a few. You can see that the demand for electricity is enormous and unstoppable.…

My nine-year-old daughter came into the living room last week and started climbing the IKEA bookcase to get to the craft materials stored on top. Luckily, the bookcase was secured to the wall so the bookcase – and my daughter – were unharmed. It was a reminder to me that the IKEA effect is alive and well in our household. The IKEA effect, for those not in the know, is the observation that people value their IKEA furniture much more when they put it together themselves. Sure, it can be frustrating following those confusing diagrams but the end result? Pure satisfaction, even if the leg is a little wobbly. For the past few days, I've been using regression analysis to deconstruct the style factors embedded in Australian equities ETFs. I…

If you use your car for business or work purposes and use the ATO's cents-per-kilometre method to calculate your tax deduction, you need to know how much to claim. For 2025-26, the amount is 88 cents per kilometre, unchanged from 2024-25. With the cents-per-kilometre method you can claim a maximum of 5000 business kilometres per vehicle. If you use this standard rate, you don't need to keep a detailed logbook of your journeys or receipts to cover the money you spent on your business journeys because this method takes the place of individual claims you would make for things like fuel, servicing, insurance and depreciation of the cost of the car. To work out how much you can claim, simply multiply the total business kilometres travelled by the cents per…

Clearing out a loved one's home after they've moved into aged care or passed away is no easy undertaking. It can involve substantial effort and emotion. Australians are being warned against rushing the job. Bob Morton, director of home clearance firm the Property Clearance company, says that people don't always appreciate the value of their loved ones' belongings. “People assume it's just clutter, but many don't realise they're sitting on collectables, retro furniture, vintage tech and memorabilia that are highly sought after. “We've seen people throw out rare Mid-century chairs, antique clocks and first-edition books, only to discover they were worth hundreds or thousands.” While the value of designer handbags and watches may be more obvious, Morton says that items such as old radios and tools can attract interest from…

MORE INVESTING STORIES ON P70-73 Super funds have notched up another strong year, with Rainmaker Information's MySuper index returning 10.6% for the FY25 – its best annual result since FY21 and the third consecutive year of positive performance. The index also returned 9.8% per year over the past three years after fees and taxes, with equities doing the heavy lifting. The S&P/ASX 200 rose 13.8%, while international shares surged 19.1%, helped by a falling Australian dollar. Only three months delivered negative returns, with the strongest monthly performance in November 2024 (+2.5%) and the weakest in March 2025 (–2.1%). “The past three years of annual performance for Rainmaker Information's MySuper index of market participants has been one of the most consistent of the past decade,” says David Gallagher, executive director of research…

Just over a year ago we pondered a specific problem. Wesfarmers, one of the most successful businesses on the ASX, was clearly expensive. We acknowledged that strict adherence to value led to selling quality too early and too often. We continued to Hold. Today, the dilemma has transformed into delusion. Wesfarmers' share price has risen a further 25% and casually accepting overvaluation is harder than ever. If everything goes perfectly over the next three years, in 2028 Wesfarmers might eke out an EBIT of just over $5 billion. That's a healthy sum but not enough to justify a $100 billion price. The twin drivers of Wesfarmers' profit are Bunnings and Kmart, which are likely to grow in the mid to high single-digits. Assuming EBIT multiples of about 15, these might…

Q Hi Paul, my husband and I are both 34, earning a combined income of $260,000, and currently trying for our first child through private IVF. We own our $1.5 million home with a $570,000 mortgage and $200,000 in offset. We have $560,000 in super and $360,000 in ETFs. I've just inherited a $1.3 million house as an only child. Should we keep it and rent it out, sell and invest in ETFs, or buy another property? We're also planning a $500,000 renovation on our home in about five years. What's the smartest move? First up and, most importantly, Alex, all the very best with your IVF program. Money is very secondary to your family life. But it is a necessary thing. Inheriting a home at an early stage in life is…

Q Hi Paul, my husband and I are in our late forties and we are keen to do some planning for our retirement. Our major concern is for our two teenage daughters with autism and ADHD. We don't know if they will be able to hold a job or what level of support they will require in the future. Still, we would like to put some financial plans in place to assist them and to support us as we age. Currently, we are in a reasonable financial position. We no longer have a mortgage and own our home, my husband works full-time, earning about $90,000 per year, and has a reasonable super balance. I don't work due to my caring responsibilities, but I do receive government payments and have more than…

Australians are being warned not to rent or sell their bank accounts to strangers, with authorities cracking down on so-called ‘money mules’ who unknowingly help criminals launder illegal money. The Australian Federal Police (AFP) and Australian Banking Association (ABA) have issued a joint warning after a rise in cases where scammers offer people quick cash – often as little as $200 – to ‘borrow’ their bank account. ABA chief executive Anna Bligh says criminals rely on mules to move stolen money through legitimate accounts making it difficult to trace. “Renting or selling your bank account may seem harmless, but you may be unwittingly helping a scammer to rip off someone you know,” says Bligh. The statement said the proceeds could help fund scams, extortion, drug trafficking and terrorism. Criminals target…

It was March when Cyclone Alfred lashed the coast of South-East Queensland, with the Category 4 system leaving almost 250,000 homes and businesses without power, some for more than a week. On the Gold Coast, dozens of EV owners offered up their electricity, transforming the fleet into a mobile lifeline for the community. The initiative, powered by the mycar Charger team, used the EVs of more than 100 volunteers to provide essential power -such as charging phones, baby monitors or medical devices -during blackouts. “Thank goodness they came along so that I could make contact with my family,” said one resident. This was achieved through the cars' Vehicle-to-Load (V2L) capacity, where the electric battery is converted to standard 240v power through an adapter. Research from the trial found 76% of…

The ASX energy sector has underperformed the ASX 200 by more than 80%, driven by fluctuating commodity prices, high capital expenditures and rising debt levels. Meanwhile, sectors aligned with cleaner energy and ESG principles have thrived. Growing investor preference for sustainable, low-carbon businesses has led to capital outflows from traditional energy stocks, deepening the sector's underperformance in a sustainability-focused market. The shift toward green energy sources has placed immense pressure on traditional fossil fuel industries, with increasing demand for clean and sustainable alternatives such as solar, wind and electric vehicles made from greener commodities like lithium and copper. This energy transition has led to reduced investor interest in fossil fuel-dependent companies, pushing capital away from the sector. Copper and lithium Many energy companies were slow to pivot to renewable energy,…

Depop A peer-to-peer platform where users can buy and sell second-hand clothing. It's commonly used for vintage and unique fashion items. SwapUp An Australian website that facilitates clothing swaps. Users upload unwanted items and trade them for others listed on the platform. Reluv An online marketplace focused on second-hand women's clothing. It partners with retailers and consumers to resell garments and promote circular fashion. AirRobe A digital wardrobe tool that allows users to resell, rent or recycle clothing purchased from participating brands. Renoon A search platform that curates fashion brands based on their environmental and ethical practices. Users can filter by sustainability criteria when browsing products.…

1991 Launch of the Australian Securities Commission (ASC.) 1998 Renamed ASIC and made responsible for consumer protection in deposit-taking, insurance and superannuation. 2001 Australian Securities and Investments Commission Act (2001) passed by parliament, which sets out ASIC's role, function and powers. 2002 Takes on responsibility for financial services licensing under the Financial Services Reform Act (2001). 2010 Made responsible for consumer credit regulation under the National Consumer Credit Protection Act (2009). 2010 Given the responsibility for supervising trading on Australian equity, derivatives and futures markets. 2018 Adopts a ‘Why not litigate?’ approach to enforcement following criticism raised during the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.…

Last week, my son got married. It was a big event, full of love, joy and… economic subversion. See, instead of handing our wallets over to the industrial wedding complex, my wife and I decided to host the whole thing ourselves. That marquee you rent for a backyard circus party? $250. But the same one in ‘wedding white’? $700. We could buy it for $900, so we did. Apply that logic across catering, flowers, lighting; suddenly, we'd hacked the entire wedding tax. What was meant to extract money incentivised a shift in behaviour. That got me thinking: if a market-induced tax could spark such a change, what might a government tax do to our behaviour? More specifically – what's really going on with France's shiny new fast fashion tax proposed…

Plusses 1 Affordability. Use Finder's calculator (finder.com.au) to work out how much you need to earn to service a mortgage based on the median price of a house or unit in any suburb in Australia. Be prepared for a shock, especially when it comes to houses. Apartments by comparison are more affordable. 2 More choice closer to where you work and play. Because units require less land than houses, you are more likely to find an apartment in a convenient location. Most State governments are driving the development of apartment blocks near major transport hubs as a way of increasing housing supply as quickly as possible. 3 Lower maintenance costs. Apartments usually require less upkeep than a typical house; for example, no mowing. Most maintenance issues – other than your…

There are a small number of very wealthy people in Australia – 2.58% of Australians (690,000) have more than $1 million in investable assets. The average investable assets of those with more than $1 million of investable assets in Australia is $4.92 million, meaning Australian wealth is a ‘rock in a sock’. Investable assets include everything except the primary residence, personal assets such as cars, jewellery and art, and lifestyle assets like holiday homes that don't produce an income. While some of you may consider people with more than $1 million of investable assets as HNW (high net worth), the truth is that assets of $1 million are of little interest to the financial planning industry. These days, most financial planners probably won't stir themselves into interest until you have…

There's a comforting simplicity in the idea of investing in utilities: big, physical assets providing essential services, throwing off reliable cashflows and quietly delivering for shareholders. Or at least, that used to be the idea. But investing isn't (only) about simplicity. It's about understanding risk, managing uncertainty, and stacking the odds in your favour. And as the utilities sector continues to evolve that old image of stable, sleepy infrastructure businesses is increasingly more mirage than reality. Start with the basics. We're talking about companies that transmit, distribute or retail essential services: electricity, gas, water, sometimes roads and airports depending on your definition. They're often monopoly or near-monopoly businesses, which means little or no direct competition, and regulated prices – a lovely combination if you're an investor who values predictable returns.…

Source: Rainmaker Information. Data sourced June 30, 2025. *Numbers stated here depict averages, other than the Rank column, which is the total number of funds in the category. For any queries on these tables, please contact info@rainmaker.com.au. The tables on these pages contain data and information to help you compare managed funds, which are pooled funds managed professionally by investment experts. Managed funds displayed in these tables are multi-sector or asset class specific. Multi-sector managed funds invest across a diversified mix of asset types spanning equities, property, bonds, cash, infrastructure, private equity and alternatives. Managed funds are normally set up as unit trusts. You may be able to invest in them directly or through a platform. These products may be recommended to you by a financial adviser. The performance results displayed…

Association of Superannuation Funds of Australia (ASFA) 1800 812 798 (outside Sydney) 9264 9300 (Sydney) superannuation.asn.au Australian Communications and Media Authority 1300 850 115 acma.gov.au Australian Competition and Consumer Commission 1300 302 502 accc.gov.au Australian Energy Regulator aer.gov.au/consumers/making-a-complaint Australian Financial Complaints Authority 1800 931 678 afca.org.au Australian Securities and Investments Commission (ASIC) 1300 300 630 asic.gov.au Australian Securities Exchange (ASX) 131 279 asx.com.au CPA Australia 1300 737 373 (within Australia) +61 3 9606 9677 (outside Australia) cpaaustralia.com.au Do Not Call Register To reduce telemarketing calls 1300 792 958 donotcall.gov.au/contact-us/contact-details Fair Trading/Consumer Affairs ACT: 132 281 NSW: 133 220 NT: 1800 019 319 QLD: 137 468 SA: 131 882 TAS: 1300 654 499 VIC: 1300 558 181 WA: 1300 304 054 Financial Counselling Australia National Debt Helpline: 1800 007 007 financialcounsellingaustralia.org.au/contact…

CALENDAR OF EVENTS Thursday, Sept 4 Balance of trade Wednesday, Sept 10 Westpac consumer confidence index Thursday, Sept 18 Unemployment rate Tuesday, Sept 30 RBA interest rate decision Credit where credit is due Love it or hate, credit makes the world go round. That might be a slight exaggeration, but credit's prevalence in today's world is hard to deny. Not everyone can dip into their savings to pay for every purchase they make. For most, big-ticket items such as cars or property would be entirely out of reach without borrowed money. As of May this year, there were 12.1 million credit card accounts in Australia, according to Reserve Bank data. Adding to that, Australian Institute of Health and Welfare research found that more than a third of households (3.3 million)…

BOOK OF THE MONTH WHAT WOULD ADAM SMITH MAKE OF MODERN AUSTRALIA? by Joseph Healy (Major Street, $32.99) Australia is not a level playing field, according to author and economic thinker Joseph Healy. Too many people are getting smaller and smaller pieces of this country's growing economic pie, while a handful are getting far more than they can possibly eat. The result is a decline in the wellbeing of Australian society, which is having a negative impact on family life, mental health, and education among others. Drawing on the works of 18th-century Scottish writer and ‘Father of Economics’ Adam Smith, Healy offers an interesting perspective on how to shape a better and more equitable future. Five readers can win a copy. In 25 words or less, tell us one thing…

Bitcoin was the best-performing major asset in the 2024–25 financial year, returning 73% and outperforming the ASX, S&P 500 and gold, according to BTC Markets. And while the cryptocurrency is notoriously turbulent, that volatility is a welcome feature for some. Charlie Sherry, head of finance at BTC Markets, notes that BlackRock reported its Bitcoin ETF (IBIT) earns more revenue than its flagship S&P 500 (IVV) fund. “The narrative is shifting. It's no longer about a retail investor thinking ‘maybe I'll throw in 1%’,” says Sherry. “Instead, we have institutional legitimisation via ETFs, family offices getting asked about crypto from their investors, and even executive teams pushing treasury strategy into crypto-native rails.” Crypto ownership continues to rise, with Crypto.com estimating more than 700 million global holders, including one in three Australians.…

From a young age, Lauren Kennedy knew that she wanted to be a fashion designer. It was her passion. Her creative outlet. “If you asked anyone through high school, I was always going to be a designer. Fashion was sort of my life. I love the art of it, I love sketching – everything like that. “So when I left school, I did fashion design. Then when I finished that degree, I was lucky enough to land a job as a junior designer at an Australian label.” After a year Kennedy quit. Reality didn't quite measure up to expectation and she wasn't getting the creative fulfilment from fashion that she craved. Lacking a sense of direction, Kennedy opted for the well-trodden path taken by many Australians in their early twenties.…

Q Hi Paul, could I, at the age of 73, transfer $30,000 of my super to my 74-year-old husband's super fund? I may stand to inherit $100,000 to move into my super. Is this a viable strategy? Technically, yes, Therese. But in our super system nothing is simple. There are a number of ways to transfer to a spouse, these include contribution splitting, spouse contributions or what I suspect you would need to do, withdrawal and recontribution. It is so easy to make an error with super. You certainly could take $30,000 out of your super to put into your husband's super – this is possible as a concessional contribution. But this general information is the most I can give you. I simply do not know enough about you and your…

Hi Paul, I have been reading your articles, and I love your experience and guidance. I have an 11-month-old baby and as her first birthday approaches, I'm keen to start saving for her future. I'm torn between two options: setting up a new superannuation account in her name, or using a share trading platform to build and manage an investment portfolio. In both cases, my plan is to contribute automatically every month. Which option is likely to provide her with better long-term benefits? Would superannuation offer more security for her retirement years, or could investing in shares deliver a stronger return and greater flexibility? Also, would you recommend a particular super fund or suggest hiring a professional broker to manage my daughter's investments? CASE STUDY HAVE A QUESTION? If you…

• Develop Global Buy rating with 12-month price target of $5.30. Develop Global (DVP) remains as a ‘Buy’ rating from Bell Potter's analysts due to expected undersupply of copper as demand ramps up due to the electrification movement. • Pilbara Minerals Buy rating with 12-month price target of $2. Pilbara Minerals (PLS) remains as a ‘Buy’ rating as lithium plays a vital role in the global green energy transition • Paladin Energy Buy rating with 12-month price target of $6.50. Paladin Energy (PDN) remains as a ‘Buy’ rating due to its low-bar expectations for 4QFY25 performance, with potential for upside given the recent improvements in operating performance and CEO transition. The company is positioned for re-rating as Langer Heinrich's fresh ore processing is expected to outperform past stockpile issues, and…

I just got a pay rise. What should I do with it? A client recently asked, “We've both had pay rises this year. How do we make sure the extra income doesn't just disappear?” It's a great question, and one that comes up more often than you might think. Lifestyle creep is real. As income rises, so do spending habits, often without us noticing. The trick is to set a plan before your pay rise quietly blends into everyday expenses. 1 Know your numbers First, work out exactly how much your after-tax income has increased. It's easy to overestimate the impact of a raise, especially once tax is taken out. Look at your new net pay and calculate the difference from before the raise. That's your opportunity fund. 2 Prioritise your goals…

Opal Tower. Major defects. Non-compliant. Words that send a chill through any buyer eyeing a new build or off-the-plan apartment. From concrete cancer and flammable cladding to dodgy builders going bust, Australia's residential construction sector is beyond notorious. Zeher Khalil, veteran building inspector at Site Inspections in Melbourne, has seen it all. “People say, ‘Can you show us a video of a house that's actually compliant, so we know what good work looks like?’ I tell them, ‘Find one and I'll do the inspection for free’,” he says. Dressed in his SWAT-style Swiss-Army-Knife-like vest equipped with every tool of the trade, Khalil, the TikTok Inspector who goes around the country inspecting homes, has amassed an online following. And his verdict? “The percentage of new builds in Australia that are guaranteed…

People don't like to think about death or how their family would cope without them or, for that matter, the need for life insurance. Fortunately, super fund members older than 25 are automatically given a basic amount of default life cover. But here's the rub: it's up to the fund member to actively nominate who their beneficiaries are. Superannuation isn't automatically part of your estate under Australian law. If you don't have a valid binding nomination in place, your super fund's trustee can decide how your death benefit – super plus insurance payout – should be distributed. Generally, super can only be paid to a dependant or your legal personal representative (LPR) (the executor of your estate). Under super law a dependant is defined as a spouse or de facto…

TOM WATSON Contributor In an ideal world, the rules and accountability mechanisms in our institutions would be enough to keep them on track. But even in the most well-meaning organisations that's not always the case. It doesn't matter if it's the government, a company or a regulator – scrutiny and input from the general public, media or elsewhere is healthy. Think of a tree where good governance is the roots and public pressure is the sunlight. It's difficult for it to thrive without both. See Tom's story on ASIC, p50. PAM WALKLEY Contributor The Robodebt scheme raised more than half a million inaccurate Centrelink debts through a method of ‘income averaging’, which has since been ruled unlawful. Whistleblowers and advocates combined with the media to shine a light on the scandal…

While it's normal to think that menopause only affects women, the reality is that it isn't just a women's issue – it affects families, workplaces and communities. Menopause causes many women to reduce their working hours or leave the workforce prematurely. These changes result in lower lifetime earnings, reduced super balances and compromised retirement outcomes. Based on MetLife's research, on average, Australian women have lost $1.5 billion in earnings per year from time off work due to menopause symptoms. The research further shows that women typically reduce hours, pass on promotions, or leave work altogether, adding to worry about not having enough money at retirement. It's clear from our research that menopause needs as much financial understanding as other facets of building a strong financial foundation. This brings into focus…

MORE MONEY STORIES ON P46-63 Nearly a million Australian banking customers on lower incomes will receive refunds after being charged ‘excessive’ transaction account fees by their banks. The announcement was made by the Australian Securities and Investments Commission (ASIC) in conjunction with the release of a new report focusing on the impact of fees on low-income customers. ASIC found that millions of people on lower incomes – many of whom rely on concession payments from the government – have been repeatedly stung by bank fees after being left in high-fee accounts when more cost-efficient options were available. In one example cited by the regulator, a single parent from South Australia was charged $2645 in overdraft fees (which has since been refunded) by Westpac. $50M The amount of money customers who have…

Families are paying premiums to secure homes in top public-school catchments, but new research shows it doesn't always pay off. Analysis from property data firm Cotality reveals the median price gap between in- and out-of-zone homes in some suburbs reaches up to $1.3 million – with weaker capital growth in return. “In some of the most in-demand school zones, families are paying hundreds of thousands – and in one case more than a million dollars – more for a house compared to similar houses outside the boundary,” says Eliza Owen, Cotality's head of research. The biggest premium was in Sydney's North Shore, where homes zoned for Killara High, Willoughby Girls and Lindfield Learning Village fetched 39.8% more, yet saw lower long-term growth. A similar trend appeared in Melbourne, where catchments…

Need Paul's help? Send your questions to: Ask Paul, Money magazine, Level 7, 55 Clarence Street, Sydney NSW 2000 or money@moneymag.com.au. Paul can't personally answer your questions other than in the Q&A column. By submitting your question to Money, you consent to having your question and the response you receive from Paul published in the print and digital edition of Money. Q Hi Paul, I'm getting a lot of information about financial advisers who charge a fee to explain how to pay off your home loan within 7-10 years. I'm 58, have a mortgage of $650,000, not including interest, with 22 years left on the loan. Our household has a combined income of $250,000. My loan is linked to an offset account and has a redraw facility and the majority…

Q Hi, is there a finance book you can recommend for people navigating a separation? Or any money tips you can share for a man going through a separation? The process of divorce and separation, as you know Andrew, is incredibly challenging and complex. I have been asked this question so often over many decades, that with the assistance of one of my friends and colleagues, Money contributor Nicola Field, we wrote a book called Money, Marriage and Divorce. It is available for purchase online. I think that would answer most if not all your questions. Money tips are going to be completely dependent on the situation you are in after your financial settlement, your salary and more broadly your career. If a family home is sold, you may have…

TEAM EFFORT What is it? Oakley Meta – HSTN AI Glasses Meta has teamed up with Oakley to create the HSTN AI Glasses. The glasses live up to the classic, thick-framed Oakley design. They're also polarised and are compatible with prescription lenses. That's where the similarities with regular sunglasses end. Sporting two cameras at the front of the frames, the glasses allow users to take photos and record video with the tap of a button or via Meta's AI assistant, while in-built speakers can be used to listen to music or podcasts via a Bluetooth connection. Speaking of assistance, wearers can ask Meta AI to make calls, send messages and even answer basic questions on the go. The glasses have a battery life of up to eight hours when used…

Thanks for your kind words, Katerina. Having turned 70 last month, I am getting a bit long on experience. As a friend of mine cheerfully pointed out to me at a party, ‘you are now in your eighth decade’. This I found very alarming. I have no complaints, though. A bit to my surprise, I've arrived at age 70 in really good health, with my wife, Vicki, our three grown-up kids and four grandchildren. Life has been a terrific adventure, with all the usual ups and downs and that is where experience comes from. Money is no substitute for family, friends and good health, but it helps to make choices. I've mentioned this on a number of occasions to Money readers, but it reinforces what a good decision you are…

In the heart of Sydney's inner west, Anthony lives with his wife, Bridget, and their teenage son in a single-storey terrace that's more than a century old. It might not look futuristic from the street, but inside – and especially on the roof -it's a different story. With a 9kW solar panel on his rooftop and a 19kWh SolarEdge battery set-up, Anthony's home doesn't just run on renewable energy – it earns from it. But it wasn't always this way. “We were putting 70–80kWh a day into the grid in summer and getting five cents per kilowatt,” he says. “Meanwhile, they were charging us 35 cents at night. It just didn't feel like we were getting any reward at all.” This imbalance pushed Anthony to install a battery. Then, on…

Inspired by WinZero's virtual energy network, Deakin Business School is now testing how households and businesses can benefit from peer-to-peer energy trading. “What the WinZero pilot demonstrated is that VENs are feasible for community use,” says Dr Andrea La Nauze, the project's lead researcher and an energy economist at Deakin University. “Now we are looking to scale it up and understand what the benefits are in a randomised control trial.” The goal of the trial is to see if VENs change when people consume electricity and if it helps make electricity cheaper overall. “We really need to shift electricity consumption into the middle of the day in Australia because of the amount of solar we generate,” says La Nauze. “If the VEN facilitates that and proves to be beneficial to…

Active Super In March 2025, the Federal Court imposed a $10.5 million fine on Active Super after finding that the fund had presented misleading claims related to the ethical nature of part of its investments. ANZ In September 2023, the Federal Court ordered ANZ to pay a $15 million fine after the bank admitted that it had misled some credit card customers about the funds available in certain accounts. AustralianSuper In February 2025, the Federal Court ruled that the trustee of AustralianSuper should pay a $27 million fine after finding that the fund had failed to merge multiple accounts held by 90,700 members. Mercer Super In August 2024, the Federal Court ordered Mercer Super to pay a $11.3 million penalty after the fund admitted to making misleading statements about the…

When I started my first part-time job in a light-fitting factory, I was so happy to have a job and to be earning money that I didn't think about whether the amount was fair. I loved the independence of having some money. Not that it was much. I was 15 and paid the lowest wage in the factory hierarchy. I didn't get money for overtime and had limited work breaks. I didn't dream of negotiating with my employer. Part-time work is a rite of passage and a formative financial step for teenagers, with about 500,000 young adults under 17 in the workforce, often in retail and fast food. The early jobs in my life, which included restaurant kitchens, cafeterias and kiosks, expanded my world beyond school, family and friends. I…

Apartments have one big advantage over houses – they are usually far more affordable and conveniently located. It's long been accepted wisdom, however, that apartments simply don't produce the same level of capital growth as houses. But it's a belief that has been called into question by a recent report showing that price growth of apartments outpaced or matched that of houses in 62.9% of Australian markets in the 12 months to May 2025. The report by wealth strategist and coach Nuestar and real estate analyst Hotspotting challenged the long-held opinion that houses are better value than units, according to Nuestar founder and director of property, Michael Wilkins. “The common view is that the real money is in land, not apartments. However, that's not our experience,” says Wilkins. “With lifestyle…

“You always hear about how to make money, but never how to keep it, protect it and grow it.” Naomi Pearce Naomi Pearce has spent years on the frontline of an Australian crisis – the emotional and financial fallout of relationship breakdowns. As a counsellor, she watched people walk away from homes, careers and futures not because they weren't entitled to more, but because they were too traumatised to keep fighting. That gap between legal rights and emotional readiness drove her to launch TFA Legal, a national firm combining litigation with psychological support. Named one of APAC Insider's Most Client-Focused Law Firms, TFA is redefining how Australians, and particularly women, are supported through separation. Q Let's start with your early years – what shaped your relationship with money? It started…