Issue April 2024 - Money Magazine (2024)

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Money magazine is Australia’s longest-running, highest-selling and most-read personal finance magazine. Money magazine provides credible, independent, easy-to-understand financial advice to help its readers save money and make the most of their investments.

in this issue

UPFRONTTIME TO FIGHT BACKEDITOR'S WELCOME When we talk about saving money, we often share articles about how to invest, where to cut costs and how to improve money habits. But a damning report on price gouging and unfair pricing practices released in February had the Money team's (collective) jaws on the floor. The report exposed one of the reasons why, despite all our best efforts, living standards continue to come down: we are getting ripped off every day. Our reporter, Nicola Field, pored over the 80-page report for the backbone of our cover story on price gouging (page 34). Companies with large market share due to a lack of competition are using a plethora of methods to benefit themselves and their shareholders at the expense of the consumer. At every turn – whether…1 min

UPFRONTLetter of the monthLearn about shares by playing the ASX game Paul's response to Tamara about her teenagers’ interest in shares (Ask Paul, February) is insightful. Might I add that an excellent way for teenagers (or anyone, for that matter!) to learn about shares is the biannual ASX Sharemarket Game. Her children could participate independently or ask a teacher to enrol them in the School Sharemarket Game, where whole groups/classes can compete for a grand prize. I'm a secondary teacher myself and registered my Year 10 students for this last year. It was fun to see them compete against each other and learn about such an important life skill in the process. Kimberley Mission accomplished in building wealth As an ex-army veteran, I enjoy a mission. My monthly mission with Money magazine is…3 min

UPFRONT‘What is your pet overcharging peeve?’HANNAH TATTERSALL Contributing writer It annoys me when retail stores have a sign saying something like: ‘Transactions less than $10 will incur a credit card fee’. As someone who pays for almost everything using my phone or smartwatch, it's annoying to be penalised for not having cash. We were all forced to use cards during the pandemic and many of us have kept up the habit. I feel it is unfair to be charged an extra 10c or 50c for buying something small. Retailers should factor this amount into the cost of their products rather than charging extra at the counter. See Hannah's feature about the benefits of debt recycling on page 72. PAUL cl*tHEROE Columnist I hate being overcharged, but getting underpaid is even worse. I always recommend that…2 min

UPFRONTWhy the ASX is in big troubleALEX DUNNIN OUTLOOK A ustralia's largest super fund, AustralianSuper, sent shockwaves through the nation's company boards last year when it led the resistance that thwarted the buyout of Origin Energy by the consortium led by the Canadian private equity group Brookfield. As dramatic as AustralianSuper's actions were, too many people have learned the wrong lessons from it. It's not that our super funds have become too powerful and need their wings clipped; the problem is with the ASX itself. It's too small, not diversified enough and has too few large investible, quality companies capable of satisfying Australia's cashed-up, biggest investors. It means that policy proposals to require super funds that get involved with a takeover deal to seek permission, or impose on them some bizarre duty of care to other…4 min

UPFRONTFinancial lessons to last a lifetimeLearning about money is a lifelong journey. Parents and teachers consistently tell us they wish they had learnt more about personal finance at school when they hear about the Talk Money program run by Ecstra, an independent charitable foundation committed to building financial wellbeing. Concerningly, financial literacy has declined, with the largest drop among 15- to 24-year-olds, according to the 2022 Household, Income and Labour Dynamics in Australia (HILDA) survey. Providing financial education at school is a vital first step. Ecstra helps educators by providing classroom resources on budgeting, spending, needs versus wants plus the newer concepts of crypto, buy now, pay later and a nearly cashless economy. Talk Money – the largest face-to-face national financial education program offered free to all schools – helps students of all ages to…1 min

Issue April 2024 - Money Magazine (2024)

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