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Refinancing your home later in life – what you need to know

There are many reasons why you may look to refinance your home. The obvious one is to lower mortgage repayments with a better rate. However, other reasons people refinance later in life include: <ul> <li>unlocking equity to invest</li> <li>paying down other debts</li> <li>buying a holiday home</li> <li>funding extended travel</li> <li>launching a new business</li> <li>supporting children with a property deposit</li> </ul> Regardless of why you want to refinance, the points below will help you navigate your options. Changing lenders It may have been a while since you last revisited your mortgage, meaning you may not be aware of current lending options and traps. A common trick lenders use is the so-called “headline rate” to grab your attention. However, this interest rate is typically not what you end up paying. It may only be an introductory rate for the first few months, or hefty fees attached may wipe out any savings. Banks aren’t the only ones offering loans nowadays. Registered non-bank lenders, fintechs and online lenders can refinance your mortgage and provide other credit services the same as any bank; they just don’t take cash deposits. Alternatively, you could explore credit unions and mutual societies. Also consider any shareholder benefits you may have. Most banks have done away with them now but may still honour pre-existing ones. If you change lenders, you could lose this entitlement – permanently. Reverse mortgages Generally, only available to people aged 60-plus, a reverse mortgage effectively allows you to unlock equity in your home without you needing to make immediate repayments. However, they often have strict conditions including: <ul> <li>minimum borrowing amounts</li> <li>maximum borrowing ratios</li> <li>higher interest rates than standard mortgages</li> </ul> Crucially, the interest accrues over time and is repaid when you sell, move or pass away. As such, your debt liability grows over time – potentially impacting your future living arrangements and how much is left for beneficiaries in your will. The Govt has the “loan equity scheme” as another option to lenders. I just want to highlight the need to be careful with reverse mortgages. Changing homes Rather than selling, downsizing could involve making an investment property your primary residence and then renting out your existing home. This approach may require you to refinance both loans simultaneously. There will also be tax considerations to work through – including Capital Gains Tax liabilities when you do sell, negative gearing, depreciation, and changes to your income tax. Then there are the lifestyle factors to weigh up, especially if you are moving to a different area: <ul> <li>living expenses</li> <li>insurance and travel costs</li> <li>access to healthcare</li> <li>rental income</li> <li>property management expenses</li> </ul> Remember that if you have a Self Managed Super Fund (SMSF), it CANNOT own any property that you directly use yourself, including your home. Becoming Bank of Mum and Dad Refinancing can unlock equity to support adult children with their first property deposit. However, it isn’t without its risks. Ask yourself honestly: <ul> <li>Will this be a gift or loan?</li> <li>If a loan, under what terms? Will interest be applied? How and when will repayments be made? What if they default?</li> <li>What happens if their relationship breaks down, will you get your money back?</li> <li>How does going without that money affect your retirement?</li> <li>Do you have alternative assets to support you if your circumstances change?</li> <li>How does this affect inheritances or deposit contributions to your other children?</li> <li>Can you assist them another way without using your home equity?</li> </ul> Draw up a written agreement outlining all conditions and scenarios to avoid disagreements in the future. Pension impacts Don’t overlook how refinancing your home could impact your pension. While your home is exempt from the means test, any income or assets you generate from unlocking equity is not. You could inadvertently see your pension amount reduced or your eligibility voided altogether. This would come as a nasty shock if you haven’t pre-budgeted for such a change! Getting advice To ensure you get the best bang for your buck when refinancing, be sure to enlist the help of a good: <ul> <li>mortgage broker to source the best loans for your circumstances</li> <li>insurance broker to ensure your cover is right sized for your needs, risk and budget</li> <li>accountant to work through any tax implications</li> <li>estate planner to manage any changes</li> <li>financial adviser to keep your investments and financial strategy working for you</li> </ul> Ultimately, decisions – including about refinancing – are only as good the information you have at hand. So, make sure you have all the relevant facts before signing on the dotted line. Helen Baker is a licensed Australian financial adviser and author of the new book, Money For Life: How to build financial security from firm foundations (Major Street Publishing $32.99). Helen is among the 1% of financial planners who hold a master’s degree in the field. Proceeds from book sales are donated to charities supporting disadvantaged women and children. Find out more at <a style="color: #467886;" title="http://www.onyourowntwofeet.com.au/" href="http://www.onyourowntwofeet.com.au/">www.onyourowntwofeet.com.au</a> Disclaimer: The information in this article is of a general nature only and does not constitute personal financial or product advice. Any opinions or views expressed are those of the authors and do not represent those of people, institutions or organisations the owner may be associated with in a professional or personal capacity unless explicitly stated. Helen Baker is an authorised representative of BPW Partners Pty Ltd AFSL 548754.

Money & Banking

Population panic: how demography is used for political gain

<div class="theconversation-article-body"> Population is far from the seemingly innocuous and bland topic of “people”. We’re not just talking people. We’re talking the very foundation of society, culture, and economy … and it’s deeply fraught. It’s also an effective political point scorer. Population scrutiny waxes and wanes in Australian populist and political discourse, much like many nations across the globe. <a href="https://theconversation.com/whats-behind-the-dramatic-shift-in-canadian-public-opinion-about-immigration-levels-219193">Canada</a>, <a href="https://theconversation.com/biden-defends-immigration-policy-during-state-of-the-union-blaming-republicans-in-congress-for-refusing-to-act-225158">the United States</a>, <a href="https://theconversation.com/a-far-right-political-group-is-gaining-popularity-in-germany-but-so-too-are-protests-against-it-223151">Germany</a>, <a href="https://theconversation.com/in-demand-but-disempowered-why-low-skilled-migrant-workers-face-even-worse-exploitation-under-nzs-new-rules-227993">New Zealand</a> and <a href="https://theconversation.com/uk-taking-back-control-of-its-borders-risks-rolling-back-human-rights-protections-230044">the United Kingdom</a> are all grappling with population issues. But when we talk population, it’s pretty safe to read immigration. It’s immigration that has most of the world talking, because growth for many is dominated by international movements, not local growth. Population growth due to immigration has fed growing fears from some quarters about a <a href="https://www.abc.net.au/religion/five-years-terror-christchurch-mosque-danger-muslim-women/103593682">replacement of the majority dominance</a> – in other words, that white people will no longer be the majority in Australia. Contemporary population debate has been largely ill-informed, lacking nuance and is often detrimental. Rooted in a long history of the way we talk about population, contemporary debate is best understood in context, and with facts. <h2>Population dynamics and change</h2> Population is most simply a <a href="https://population.gov.au/population-topics/topic-population-measurement">bunch of individuals</a> living in a specific place. Sounds boring, I know, but the reality is something much greater. When we start talking about what underpins population – composition, characteristics and change – it becomes clear why population is so political. Populations are comprised of varying characteristics – think age, sex, and geography. Characteristics like the age structure of a population have a direct impact on the workforce and economic wellbeing of a nation. A younger population means more expenditure invested in the young to ensure a strong workforce in the future. This is known as the <a href="https://www.prb.org/wp-content/uploads/2019/11/prb-demographic-dividend-evidence-1.pdf">demographic dividend</a>. An older population age structure, on the other hand, sees more spending on the upper end of the life course – senior people – and pressures on the workforce meeting the economic needs of the nation. This is <a href="https://www.abs.gov.au/ausstats/abs@.nsf/2f762f95845417aeca25706c00834efa/851dece969d9182cca2570ec000a2501!OpenDocument">structural ageing</a>. Australia’s population, like most of the world, is structurally ageing. We’re living longer and <a href="https://blog.id.com.au/2023/population/population-trends/australias-birth-rate-falls-in-2022#:%7E:text=Australia's%20birth%20rate%20has%20been,level">not replacing ourselves</a> through births. Living longer is a mark of technological success and ingenuity, and the same could be said about below-replacement births. But our success has some downsides. <blockquote class="instagram-media" style="background: #FFF; border: 0; border-radius: 3px; box-shadow: 0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width: 540px; min-width: 326px; padding: 0; width: calc(100% - 2px);" data-instgrm-captioned="" data-instgrm-permalink="https://www.instagram.com/p/DBP0rqgSCm5/?utm_source=ig_embed&utm_campaign=loading" data-instgrm-version="14"> <div style="padding: 16px;"> <div style="display: flex; flex-direction: row; align-items: center;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 40px; margin-right: 14px; width: 40px;"> </div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 100px;"> </div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 60px;"> </div> </div> </div> <div style="padding: 19% 0;"> </div> <div style="display: block; height: 50px; margin: 0 auto 12px; width: 50px;"> </div> <div style="padding-top: 8px;"> <div style="color: #3897f0; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: 550; line-height: 18px;">View this post on Instagram</div> </div> <div style="padding: 12.5% 0;"> </div> <div style="display: flex; flex-direction: row; margin-bottom: 14px; align-items: center;"> <div> <div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(0px) translateY(7px);"> </div> <div style="background-color: #f4f4f4; height: 12.5px; transform: rotate(-45deg) translateX(3px) translateY(1px); width: 12.5px; flex-grow: 0; margin-right: 14px; margin-left: 2px;"> </div> <div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(9px) translateY(-18px);"> </div> </div> <div style="margin-left: 8px;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 20px; width: 20px;"> </div> <div style="width: 0; height: 0; border-top: 2px solid transparent; border-left: 6px solid #f4f4f4; border-bottom: 2px solid transparent; transform: translateX(16px) translateY(-4px) rotate(30deg);"> </div> </div> <div style="margin-left: auto;"> <div style="width: 0px; border-top: 8px solid #F4F4F4; border-right: 8px solid transparent; transform: translateY(16px);"> </div> <div style="background-color: #f4f4f4; flex-grow: 0; height: 12px; width: 16px; transform: translateY(-4px);"> </div> <div style="width: 0; height: 0; border-top: 8px solid #F4F4F4; border-left: 8px solid transparent; transform: translateY(-4px) translateX(8px);"> </div> </div> </div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center; margin-bottom: 24px;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 224px;"> </div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 144px;"> </div> </div> <p style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; line-height: 17px; margin-bottom: 0; margin-top: 8px; overflow: hidden; padding: 8px 0 7px; text-align: center; text-overflow: ellipsis; white-space: nowrap;"><a style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: normal; line-height: 17px; text-decoration: none;" href="https://www.instagram.com/p/DBP0rqgSCm5/?utm_source=ig_embed&utm_campaign=loading" target="_blank" rel="noopener">A post shared by Australian Bureau of Statistics (@absstats)</a> </div> </blockquote> The trouble with below-level births and an ageing population is that the local age structure is not sufficient to meet the <a href="https://treasury.gov.au/intergenerational-report">needs of the workforce</a>. Simply, the local Australian population cannot meet the economic needs of the nation, and this has the potential to see living standards go backwards. Immigration helps offset the adverse consequences of an ageing population. Population change occurs due to births, deaths and migration. Commonly known as the population balancing equation, population growth is expressed as: births minus deaths plus migration. Immigration makes up the majority of population growth in Australia and has done so consistently since <a href="https://www.aihw.gov.au/reports/australias-health/profile-of-australias-population">around 2005</a>, with the exception of international border closures during COVID. Natural increase – the balance of births minus deaths – also contributes to population growth in Australia. However, increasing deaths and declining births means the country is expected to see <a href="https://theconversation.com/eight-charts-on-how-australias-population-is-growing-and-changing-227153">natural decline by 2054</a>. <h2>Population problem</h2> In Australia, there has been a preoccupation with the <a href="https://www.aihw.gov.au/reports/australias-health/profile-of-australias-population">drivers of population change</a> since colonisation. Is the nation’s population <a href="https://digital-classroom.nma.gov.au/defining-moments/postwar-immigration-drive">growing too slowly</a>? <a href="https://www.themandarin.com.au/237985-australia-population-27-million-milestone/">Too fast</a>? Why are women having <a href="https://theconversation.com/women-in-rich-countries-are-having-fewer-kids-or-none-at-all-whats-going-on-229185#:%7E:text=Simply%2C%20women%20are%20often%20not,and%20buying%20a%20first%20home.">too few children</a>? Are the <a href="https://www.smh.com.au/politics/federal/abbott-calls-for-middle-class-women-to-have-more-children-20200128-p53vkx.html">wrong kind of women</a> having too many children? Will migrants <a href="https://www.abc.net.au/news/2021-10-15/migrant-movement-in-australia-covid/100536114">want to come</a> to the country? Are there <a href="https://www.theguardian.com/australia-news/2024/mar/21/migration-numbers-australia-2023-rise">too many migrants</a> coming to Australia? Australia is rarely not in a state of <a href="https://theconversation.com/solving-the-population-problem-through-policy-110970">population panic</a>. Population panic once stemmed from being a small population in a big country vulnerable to external military attack. Now population panic is about the pace of growth being too great, due to immigration. And it doesn’t take much to stoke <a href="https://www.theguardian.com/global-development/2022/oct/18/global-population-growth-8-billion-unfdp-united-nations-warning-alarmism">population fear</a>. Population is charged and offers an easy trigger point to leverage voters. Politicians on all sides of the ideological landscape know this and use population discourse effectively for political gain. <figure><iframe src="https://www.youtube.com/embed/h5CubF42DGI?wmode=transparent&start=0" width="440" height="260" frameborder="0" allowfullscreen="allowfullscreen"></iframe></figure> Since the <a href="https://www.jstor.org/stable/41110698">early 1900s</a>, Australia’s history has been dotted with inquiries into growth and birth rates. In fact, at the time of colonisation, the male-dominated imbalance in the colony sparked calls for more women from Britain – <a href="https://unsw.press/books/the-future-of-us/">of suitable status</a> – to help arrest high rates of hooliganism, drunkenness, and sexually transmitted infections. Women of standing were believed to help socialise the nation and provide essential children for nation building. Nothing much has changed really, with the Treasurer Jim Chalmers saying in the lead up to the 2024 federal budget: “<a href="https://youtu.be/JLzp53D6thg?si=p8YheMdF0-ndO9DB">It would be better if birth rates were higher</a>”. <h2>So why aren’t women having babies?</h2> Australian federal treasurers have expressed concerns about birth rates over many years, across different governments. Chalmers wasn’t the first and he won’t be the last bemoaning below-replacement births. In 2004, then-treasurer Peter Costello <a href="https://ministers.treasury.gov.au/ministers/peter-costello-1996/transcripts/doorstop-interview-treasury-place-melbourne-16">famously said</a>: “have one for mum, one for dad and one for the country”. <a href="https://www.thenewdaily.com.au/finance/finance-news/2020/07/25/baby-bonus-frydenberg-costello">Josh Frydenberg, while treasurer, stated</a>: <blockquote> I won’t go as far as to say, like Peter Costello, “one for the mother, one for the father and one for the country”. But [what] I can say is that people should feel encouraged about the future and the more children that we have across the country, together with our migration, we will build our population growth and that will be good for the economy.“ </blockquote> In the 1940s, Australia held an inquiry into falling birth rates, and following the second world war Australians were called on to populate or perish. During the 1940s inquiry, <a href="https://catalogue.nla.gov.au/catalog/1786445">women were invited to make submissions</a> reflecting how difficult motherhood was and how unsupported they were: "You men in easy chairs say ‘populate or perish’. Well, I have populated and I have perished – with no blankets.” Many Australians now won’t achieve their desired family size because contemporary life is simply not conducive to having children. Having no or fewer children is now a forced outcome for a growing number of Australians. The barriers to having a child are now insurmountable for far too many. Housing affordability, gender inequality, financial insecurity and climate change make for an unstable and uncertain future. Young Australians are carrying the burden of the nation’s future and the burden is simply too much. They have seen the generational bargain crumble and are being denied a future because of the failings of politics past. <h2>Permanent versus net overseas migration</h2> Among the many nuances missing from the population debate is the difference in the terminology used to refer to immigration. From a planning point of view, permanent migration is discussed; from a population perspective, net overseas migration applies. The difference between the two is stark and used in a smoke and mirrors way to hide reality or harm an opponent. Government has much control over permanent migration, little control over net overseas migration. Permanent migration refers to the cap of permanent visas granted. The permanent migration program is reviewed annually by the <a href="https://immi.homeaffairs.gov.au/what-we-do/migration-program-planning-levels">Department of Home Affairs</a> with input from select experts, peak bodies, and government. Permanent migration <a href="https://www.aph.gov.au/About_Parliament/Parliamentary_departments/Parliamentary_Library/Budget/reviews/2023-24/Immigration">has fluctuated over the past ten years</a>, reflecting political point scoring. Under Tony Abbott’s government in 2014-15, permanent migration was just under 190,000. The permanent migration remained in the 180,000s until declining to over 160,000 in 2017-18 under Scott Morrison. Morrison also reduced permanent migration further to around 144,000 in 2021-22. In its final year, the Morrison government flagged increasing the planning level for <a href="https://treasury.gov.au/sites/default/files/2021-06/p2021-182464.pdf">permanent migration to 190,000</a>. Planning levels under the Anthony Albanese government were 195,000 and 190,000 in 2022-23 and 2023-24 respectively. The permanent migration program ceiling is set to decline by 5,000 places to 185,000 in 2024-25 under Albanese. Opposition Leader Peter Dutton has also announced his party would reduce permanent numbers to 140,000, seemingly linking <a href="https://www.liberal.org.au/latest-news/2024/05/16/leader-oppositions-budget-address-reply">housing affordability to permanent migration</a>. Dutton has also said his party would cut net overseas migration (NOM) but has since <a href="https://www.abc.net.au/news/2024-12-08/dutton-walks-back-promise-to-cut-net-migration/10469921">backtracked on his plan</a>, possibly because he realised it couldn’t be done. <blockquote class="twitter-tweet"> Explaining the 2024 Migration Surge A recent surge in net migration has become a hot topic, with politicians & media linking it to housing pressures. But what is Net Migration? And do we really have unusually high volumes of migration? <a href="https://t.co/TjzwbtGqsF">https://t.co/TjzwbtGqsF</a> <a href="https://t.co/aFHXIeC4ay">pic.twitter.com/aFHXIeC4ay</a> — Alan Gamlen (@alangamlen) <a href="https://twitter.com/alangamlen/status/1795721881699664286?ref_src=twsrc%5Etfw">May 29, 2024</a></blockquote> Net overseas migration feeds into population estimates and is the balance of incoming minus outgoing migration. <a href="https://immi.homeaffairs.gov.au/what-we-do/migration-program-planning-levels?fbclid=PAZXh0bgNhZW0CMTEAAaZPBEWLyQJhkvB8_SaqYBSgRdV_rx4Kjy86bbkugYRsOO2cukAoD2wd5dM_aem_AcfxCup1XXR8DP4ZaRfFTFaXggVYw8b8TyNLWsw-3fIenPm_wsx7xM0zfsZHmQ2OjYi0H-YUQdLxUjQUcT47Feij#:%7E:text=Net%20overseas%20migration%20%E2%80%93%20relationship%20with,New%20Zealanders%20and%20Humanitarian%20migrants">NOM is comprised</a> of temporary and permanent migration and includes refugees, students, working holiday makers, and even Australian and New Zealand citizens. A cut to the permanent migration program is unlikely to affect net overseas migration numbers. NOM is set to return to <a href="https://budget.gov.au/content/bp3/download/bp3_14_appendix_a.pdf">recent historical average</a> even without reduced permanent numbers. Most people granted permanency are <a href="https://immi.homeaffairs.gov.au/what-we-do/migration-program-planning-levels?fbclid=IwZXh0bgNhZW0CMTEAAR1aJLdjyJotVfICnc2Ge8vcrJ6DMCaPC4XfDOST9owl1qS4YfBYCKYPkBw_aem_AcegFZW0_vafT8J90jDFyG8aVhMd2f0Ab_9EqE1Y38Q5vuVT5NExZi5Um2BrkpHg0odl0odbI0pDfnUE7A34PRhi">already in the country</a>. What will occur with a reduced migration program is increased temporariness. Increased temporariness has the potential to erode social cohesion, harming migrants and Australian society overall. Just like births, populist tactics are used when talking immigration for quick political point scoring. It works, but is it good for people? <h2>Turning on ourselves</h2> Demography is often used against the population in a peculiar ploy to win political points. Take gender. Fewer birth means less expenditure on paid parental leave and superannuation for those receiving parental leave. Announcing <a href="https://www.abc.net.au/news/2024-05-14/federal-budget-pledges-superannuation-into-paid-parental-leave/103846312">increased</a> paid parental leave benefits and superannuation while knowing births are set to be fewer is political genius. Chalmers announced exactly this in the 2024 budget. <blockquote class="twitter-tweet"> BREAKING: Parliament has just passed our bill to expand Paid Parental Leave to 26 weeks. On top of that, we've announced a plan to pay super on PPL from 1 July 2025 - all part of our efforts to ensure women earn more, keep more of what they earn & retire with more as well <a href="https://twitter.com/hashtag/auspol?src=hash&ref_src=twsrc%5Etfw">#auspol</a> <a href="https://t.co/p3p4ib6sed">pic.twitter.com/p3p4ib6sed</a> — Jim Chalmers MP (@JEChalmers) <a href="https://twitter.com/JEChalmers/status/1769541268739080507?ref_src=twsrc%5Etfw">March 18, 2024</a></blockquote> The government says it’s doing more for women and mothers, but what it’s actually doing is a <a href="https://www.abc.net.au/news/2024-05-20/paid-parental-leave-payments-saving-millions-fertility-rate/103866506">whole lot of nothing</a>. There is no substantive examination of why women are saying no to motherhood. Demographic insights have enabled an effective political sleight of hand to give the illusion of doing something when actually not doing much at all. Blaming population growth for the housing crisis is another stroke of political mastery. Talking tough on population (immigration) while promoting and relying on immigration is a tale as old as Australia’s ageing population. When in opposition the talk is tough; when in government, actions speak louder than words. Governments and oppositions, no matter the political leaning, make promises and then realise immigration is the economic safety raft keep the economy afloat. <a href="https://ministers.treasury.gov.au/ministers/jim-chalmers-2022/speeches/budget-speech-2024-25">Chalmers talked tough</a> on immigration in his 2024 budget speech, pointing the finger of blame towards immigration for all manner of things, <blockquote> […] we’re addressing the pressures caused by population growth, with net overseas migration next year now expected to be half what it was last year. </blockquote> But the government can’t take the credit for lowering NOM – nothing they did lowered the artificially high rates of NOM Australia saw post COVID border reopening. Yes, the Albanese government has introduced changes to <a href="https://www.reuters.com/world/asia-pacific/australia-tightens-student-visa-rules-migration-hits-record-high-2024-03-21/">build integrity</a> into the <a href="https://www.reuters.com/world/asia-pacific/australia-raises-minimum-savings-student-visa-warns-fake-recruitment-2024-05-08/">migration system</a>, but NOM figures were set to decline anyway. It comes down to the way it is calculated. Border closures in Australia saw NOM fall to <a href="https://www.abs.gov.au/statistics/people/population/overseas-migration/2022-23-financial-year">-88,000 in 2020-21</a>. That’s negative nearly 90,000 people. <hr /> <iframe id="datawrapper-chart-9amUU" style="border: none;" title="Overseas migration in Australia from 2014 to 2024" src="https://datawrapper.dwcdn.net/9amUU/1/" width="100%" height="426" frameborder="0" scrolling="no" aria-label="Interactive line chart" data-external="1"></iframe> <hr /> This was the first such decline outside wartime in Australia’s recorded history. A big deal. Temporary migrants, including students, left Australia prematurely at the onset and peak of COVID-related measures. Morrison, prime minister at the time, told international students and temporary visa holders to “go home”, while saying those with critical skills <a href="https://www.abc.net.au/news/2020-04-03/coronavirus-pm-tells-international-students-time-to-go-to-home/12119568">could stay and contribute</a>: “For those backpackers in Australia who are nurses or doctors, or have other critical skills that can really help us during this crisis, then there will be opportunities for them”. Expendability of migrants echoed in this statement. What happened with the NOM during COVID closed borders was essentially a calculation reset. Higher than expected numbers of people left Australia prematurely. Students, especially, left Australia prior to their studies finishing. This resulted in greater outgoings of NOM than the recent average. NOM restarted the moment borders reopened, but because so many brought forward their exit the number of incomers weren’t balanced by the usual outflow of people. Taking a longer view of NOM prior to and since COVID-related measures shows smoother growth than popular media suggests. But nuance is hard to articulate in small soundbites, especially when the language of otherness is so enticing. <h2>Creating the ‘other’</h2> <a href="https://journals.sagepub.com/doi/10.1177/14705958231216936">The language of otherness</a> is used extensively in the population (immigration) narrative. Dutton played population bingo with his use of the word “foreign” in his 2024 budget reply speech referring to students, ending investment, and interference. Dutton also blamed migrants for road congestion and pressure on local services. His speech was a populist symphony. When in opposition, members of the now government also made disparaging comments about migrants. For example, <a href="https://www.smh.com.au/national/do-we-want-migrants-to-return-in-the-same-numbers-the-answer-is-no-20200501-p54p2q.html">Kristina Keneally</a> wrote an opinion piece suggesting migrants were taking jobs from locals. Fear about population is easily manufactured, and once created enables a fix the playmaker can resolve. Much like a David Copperfield magic special. The trouble with these tactics is in the enormous <a href="https://www.abs.gov.au/statistics/people/population/australias-population-country-birth/latest-release">diversity in Australia</a> – we risk turning on ourselves and eroding already fraying social cohesion. <h2>Shaping Australia</h2> Our preoccupation with population largely reflects the central place people and demography hold in the economy and very function of the nation. But we appear to have lost our heads, instead problematising the very heart of what makes us Australian: the people. Demography is a slow-moving train, and based on past and current trends population science can somewhat predict the future. The populist playbook results in population (namely immigration) used for political point scoring, to the detriment of the people, particularly the young. Australia is by no means perfect. There is much work to be done to fix the multiple crises the nation is confronted with – housing affordability, financial insecurity, gender inequality, and climate change. A sensible approach to population and immigration is needed to ensure living standards don’t go backwards. Migrants help us weather the demographic headwinds. Rather than use population for political gain, we need instead to harness the power of demography to solve our way out of the gigantic mess we’re in. The key is ensuring young people have a future worth living. <hr /> This is an edited extract from <a href="https://thamesandhudson.com.au/product/how-australian-democracy-works-and-why-we-need-it-more-than-ever/">How Australian Democracy Works</a>, a new collection of essays from The Conversation on all aspects of the country’s political landscape.<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/230409/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> By <a href="https://theconversation.com/profiles/liz-allen-10193">Liz Allen</a>, Demographer, POLIS Centre for Social Policy Research, <a href="https://theconversation.com/institutions/australian-national-university-877">Australian National 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/population-panic-how-demography-is-used-for-political-gain-230409">original article</a>. Image: Shutterstock </div>

Money & Banking

“They are treating us like chumps": Karl fires up over supermarket practices

In a heated interview on the Today show, Karl Stefanovic confronted Treasurer Jim Chalmers over the conduct of major supermarket chains, accusing them of treating Australian consumers like "chumps". The exchange followed the release of the Australian Competition and Consumer Commission’s (ACCC) final report into supermarket practices, highlighting concerns over price-gouging, misleading discounts and "shrinkflation". The ACCC’s inquiry found that the dominance of Woolworths, which controls 38% of the national grocery market, and Coles, which holds 29%, has resulted in an “oligopolistic” effect. Despite this, the regulator refrained from endorsing Opposition Leader Peter Dutton’s call for greater powers to dismantle the supermarket giants, cautioning that there was no “silver bullet” solution. Treasurer Chalmers acknowledged the ongoing cost-of-living pressures, saying that “Australians are still feeling that pressure at the checkout. And that’s why we’re cracking down on the supermarkets.” He added that the government was working to foster greater competition in the industry to prevent further consumer exploitation. However, Stefanovic challenged Chalmers, arguing that no significant changes had been made to curb supermarket dominance. “They are treating us like chumps and they continue to,” he said. “And I’ve not seen anything that’s going to stop them from doing that.” Chalmers then defended the government’s economic policies, citing key improvements including declining inflation, rising real wages and economic growth. “We know that people are still under pressure,” he admitted but insisted that progress was being made. In response to the ACCC report, Coles issued a statement claiming the company also faces financial pressures, including rising rents and electricity costs. “We do not control these inflationary costs in the economy – but they contribute to higher grocery prices for Australian households,” the statement read. Coles also defended its pricing strategy, stating that grocery inflation (excluding tobacco) remained at just 1% for the first half of the financial year. The company assured that it is reviewing the ACCC’s recommendations and has already implemented changes to improve pricing transparency and customer communication. Images: The Today show

Money & Banking

"I'm not ready to go yet": Leading Aussie doctor given months to live

Leading melanoma researcher and Australian of the Year recipient Professor Richard Scolyer has revealed that he has only months to live following the return of his brain cancer. Diagnosed with incurable glioblastoma two years ago, Professor Scolyer chose to <a href="https://www.oversixty.com.au/health/caring/doctor-beats-cancer-using-his-own-treatment" target="_blank" rel="noopener">undergo an experimental immunotherapy treatment</a>, defying his initial six-month prognosis. His remarkable journey was documented in a study published in late February, detailing the innovative approach he helped pioneer. However, after undergoing surgery last week, doctors confirmed that the aggressive cancer had returned. “Unfortunately, there is a larger volume of quickly growing brain cancer (glioblastoma, IDH WT, unmethylated etc.) in my left brain,” Professor Scolyer shared in an emotional social media post on Monday. “The prognosis is poor. Whilst some of my recurrent tumour was removed last week, some of it couldn’t be because of its site.” Despite the devastating news, Professor Scolyer remains hopeful that the experimental treatment he volunteered for could pave the way for future medical breakthroughs. Alongside his colleague and friend, Professor Georgina Long, he was named a 2024 Australian of the Year for their groundbreaking work in melanoma research and immunotherapy advancements. “I greatly appreciate the support of all my family, friends, and colleagues who have been looking after me so well and the incredible research that has been performed,” he said. “I hope the latter will change the field and patient outcomes in the not too distant future.” In a heartfelt interview on A Current Affair with Ally Langdon on Monday, the father-of-three shared his decision to forgo further experimental treatments, choosing instead to spend his remaining time with his loved ones. “It could help, but my heart’s not in the same place as what it was before,” he admitted. “It’s not fair, but there’s a lesson for everyone … make the most of every day because you don’t know what’s around the corner.” “I’m not ready to go yet. I love my life,” he said. “I guess I feel lucky that I’ve been able to go for so long without a recurrence of it.” Images: A Current Affair

Caring

Woman slammed for using GoFundMe for house deposit

A woman has been relentlessly mocked online after launching a GoFundMe page to ask strangers to contribute money to her house deposit. Emmalee Potter, a mother-of-three from Victoria, wrote on the page that she had been "suffering a rough few years" and relying on friends and family for help with accommodation. Now however, Potter is finally in the position where she is tantalising close to being able to purchase her new home after "working hard towards saving", but still finds herself $3,000 short of her goal. As she wrote on the fundraising page, "I'm almost at the final stage but I'm short on the deposit so I'm calling on my village. Please help me get over this last hurdle, every little bit truly helps, a house is more than just a place to live." "It's a foundation for the next chapter of life, a space where memories are made, and where I can really begin to feel settled. Your donation, no matter the size, will go directly toward helping me achieve this dream." While Ms Potter thanked those who could contribute, many were not impressed at her using the platform in order to fund her house. "No hate but you expect people to donate to you so you can buy a house?" one person asked, while another added, "I'm sorry but that is ridiculous. If we are all going to start GoFundMe accounts, I may as well start one so I can go on a holiday to Greece." Another person wrote, "It's a tough time for everyone trying to buy a house, especially with the cost of living, so I'm kind of confused why you're asking for donations. The first paragraph of your listing says 'I'm now in a position to purchase a home' but you're asking strangers to send you money for the deposit?" Ms Potter defended the fundraising page as she responded to one outraged commenter, writing, "It's not about 'funding me a house' it's the small amount still needed to buy something." "Me and my kids are living in a room at my friends. Buying is actually cheaper than renting. We've applied for over 100 rentals and been knocked back. I can get the home loan and pay the repayments [I'm] just needing the last bit of the deposit." Others were quick to defend the woman, as one person wrote, "There's nothing wrong with asking for help." Image credits: GoFundMe / Facebook

Money & Banking

Use it or lose it as historic super cap prepares to expire

Jordan Kennedy is a Partner at accounting and advisory firm Pitcher Partners Sydney. Australians could be sitting on a golden opportunity to spur their super savings this year — but if they don’t act fast, they will miss out. That’s because in July they will lose the entitlement to claim any unused superannuation tax concessions from 2019-20, known as the concessional cap. The concessional cap is the total annual amount that can be contributed into super by a person’s employer, through salary sacrifice or claimed as a tax deduction, before the person is charged at the ordinary taxable rate. In other words, for most Australians there is a gap between what they or their employer contribute each year and the total amount they could contribute, taking advantage of tax concessions. In 2019-20, that capped amount was $25,000, and unless people were making or receiving contributions above the superannuation guarantee, they would have needed to earn about $260,000 to hit the cap. If they didn’t, there may still be ‘available’ cap that has built up over the last five years and can be used to access the 15% tax rate on earnings — until July 1, when the cap expires. While this sounds technical, reviewing past superannuation contributions and checking to see that caps have been maxed out is one of the easiest ways to achieve a tax deduction. Of course, there are a few aspects to this strategy that bear consideration. The concession cap system is a use it or lose it play. Any gap between contributions and cap will expire after five years, so this is the last chance to retrospectively boost your superannuation using the 2019-20 cap. That said, as this is the first year we have seen the cap expire, it might have slipped the minds of many. Even if you have maxed out the cap for that year, you should take the opportunity to look at more recent years as well to see if you have been carrying forward an available pool of tax concessions. The second thing to note is that the vast majority of Australians will have a tax cap opportunity available. For anyone on an average salary, the cap gap can grow by $10,000 or more each year, unless additional contributions are made through salary sacrifice or as a tax deduction. The concession is also available for those who might have stopped work to have children or who are reducing their workload approaching retirement. Check with your accountant or your super fund — you might have tens of thousands of dollars in tax concessions available for use. Thirdly, consider your timing. If you know you will have tax capacity in coming years, try to time your use for those years where you have a significant tax event, such as realising capital gains. This can reduce your tax liability without disrupting your other plans. In this case, seeking strategic advice is extremely important to determine the optimal outcome for your circumstances. And finally, recognise there are exceptions. People whose superannuation balance is already over $500,000 are excluded from taking advantage of the cap rollover, but could still benefit from advice on how they should balance their tax liabilities while maximising their superannuation. Whatever your circumstance, speaking to a qualified, independent advisor is the first step to ensure you are working within the complex rules that govern super and taking best advantage of the tax concessions available. But if there is an opportunity to reduce your tax liability for limited effort, you would be mad not to explore your options. Image credits: Shutterstock

Retirement Income

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

Around 3% of us will develop a brain aneurysm in our lives. So what is it and how do you treat it?

<div class="theconversation-article-body"> <a href="https://theconversation.com/profiles/theresa-larkin-952095">Theresa Larkin</a>, <a href="https://theconversation.com/institutions/university-of-wollongong-711">University of Wollongong</a> and <a href="https://theconversation.com/profiles/jessica-nealon-1481995">Jessica Nealon</a>, <a href="https://theconversation.com/institutions/university-of-wollongong-711">University of Wollongong</a> Australian radio host Kyle Sandilands announced on air that he <a href="https://www.abc.net.au/news/2025-02-03/kyle-sandilands-brain-aneurysm-diagnosis/104888826">has a brain aneurysm</a> and needs urgent brain surgery. Typically an aneurysm occurs when a part of the wall of an artery (a type of blood vessel) becomes stretched and bulges out. You can get an aneurysm <a href="https://www.betterhealth.vic.gov.au/health/conditionsandtreatments/aneurysm">in any blood vessel</a>, but they are most common in the brain’s arteries and the aorta, the large artery that leaves the heart. Many people can have a brain aneurysm and never know. But a brain (or aortic) aneurysm that ruptures and bursts can be fatal. So, what causes a brain aneurysm? And what’s the risk of rupture? <h2>Weakness in the artery wall</h2> Our arteries need strong walls because blood is constantly pumped through them and pushed against the walls. An <a href="https://www.healthdirect.gov.au/aneurysms">aneurysm</a> can develop if there is a weak part of an artery wall. The walls of arteries are made of three layers: an inner lining of cells, a middle layer of muscle and elastic fibres, and a tough outer layer of mostly collagen (a type of protein). Damage to any of these layers causes the wall to become thin and stretched. It can then balloon outward, leading to an aneurysm. <a href="https://pmc.ncbi.nlm.nih.gov/articles/PMC4399795/">Genetics</a> and <a href="https://www.ninds.nih.gov/health-information/disorders/cerebral-aneurysms">certain inherited disorders</a> can cause weak artery walls and brain aneurysms in some people. For all of us, our artery walls become weaker as we age, and brain aneurysms are more common as we get older. The <a href="https://www.ncbi.nlm.nih.gov/books/NBK557867/">average age for a brain aneurysm</a> to be detected is 50 (Sandilands is 53). Females have a higher risk of brain aneurysm than males <a href="https://www.ncbi.nlm.nih.gov/books/NBK507902/">after about age 50</a>. Declining oestrogen around menopause reduces the collagen in the artery wall, causing it to become weaker. <figure class="align-center "><img src="https://images.theconversation.com/files/646696/original/file-20250204-15-i55mtq.jpg?ixlib=rb-4.1.0&q=45&auto=format&w=754&fit=clip" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px" srcset="https://images.theconversation.com/files/646696/original/file-20250204-15-i55mtq.jpg?ixlib=rb-4.1.0&q=45&auto=format&w=600&h=400&fit=crop&dpr=1 600w, https://images.theconversation.com/files/646696/original/file-20250204-15-i55mtq.jpg?ixlib=rb-4.1.0&q=30&auto=format&w=600&h=400&fit=crop&dpr=2 1200w, https://images.theconversation.com/files/646696/original/file-20250204-15-i55mtq.jpg?ixlib=rb-4.1.0&q=15&auto=format&w=600&h=400&fit=crop&dpr=3 1800w, https://images.theconversation.com/files/646696/original/file-20250204-15-i55mtq.jpg?ixlib=rb-4.1.0&q=45&auto=format&w=754&h=503&fit=crop&dpr=1 754w, https://images.theconversation.com/files/646696/original/file-20250204-15-i55mtq.jpg?ixlib=rb-4.1.0&q=30&auto=format&w=754&h=503&fit=crop&dpr=2 1508w, https://images.theconversation.com/files/646696/original/file-20250204-15-i55mtq.jpg?ixlib=rb-4.1.0&q=15&auto=format&w=754&h=503&fit=crop&dpr=3 2262w" alt="An illustration showing a brain aneurysm." /><figcaption>A brain aneurysm occurs when a part of the wall of an artery balloons out. <a class="source" href="https://www.shutterstock.com/image-vector/human-brain-blocking-stroke-aneurysm-disease-2171173339">Alfmaler/Shutterstock</a></figcaption></figure> High blood pressure can increase the risk of a brain aneurysm. In someone with high blood pressure, blood inside the arteries is pushed against the walls with greater force. This can <a href="https://pmc.ncbi.nlm.nih.gov/articles/PMC3163429/">stretch and weaken the artery walls</a>. Another <a href="https://www.aihw.gov.au/reports/heart-stroke-vascular-diseases/hsvd-facts/contents/introduction">common condition</a> called atherosclerosis can also <a href="https://www.ninds.nih.gov/health-information/disorders/cerebral-arteriosclerosis">cause brain aneurysms</a>. In atherosclerosis, plaques made mostly of fat build up in arteries and stick to the artery walls. This directly damages the cell lining, and weakens the muscle and elastic fibres in the middle layer of the artery wall. <h2>Several lifestyle factors increase risk</h2> Anything that increases inflammation or causes atherosclerosis or high blood pressure in turn increases your risk of a brain aneurysm. <a href="https://pmc.ncbi.nlm.nih.gov/articles/PMC6527044/">Smoking and heavy drinking</a> affect all of these, and nicotine <a href="https://pmc.ncbi.nlm.nih.gov/articles/PMC6214667/">directly damages</a> the artery wall. Sandilands mentioned <a href="https://www.news.com.au/entertainment/tv/radio/kyle-sandilands-reveals-shock-health-diagnosis-i-may-be-dead/news-story/62f9f05c6f0a03702632ec8d622cf97a">his cocaine use</a> in discussing his diagnosis. He said: "The facts are, a life of cocaine abuse and partying are not the way to go." Indeed, cocaine abuse <a href="https://www.nhs.uk/conditions/brain-aneurysm/causes/">increases the risk of a brain aneurysm</a>. It causes very high blood pressure because it causes arteries to spasm and constrict. Cocaine use is also <a href="https://www.sciencedirect.com/science/article/abs/pii/S1878875023017400">linked to worse outcomes</a> if a brain aneurysm ruptures. <a href="https://onlinelibrary.wiley.com/doi/full/10.1111/ejn.15992">Stress</a> and a <a href="https://pmc.ncbi.nlm.nih.gov/articles/PMC6243058/#:%7E:text=High%2Dfat%20diets%20(HFDs),many%20organs%20(see%20text).">high-fat diet</a> also increase inflammation. <a href="https://www.hopkinsmedicine.org/health/conditions-and-diseases/atherosclerosis#:%7E:text=Atherosclerosis%20is%20thickening%20or%20hardening,activity%2C%20and%20eating%20saturated%20fats.">High cholesterol</a> can also cause atherosclerosis. And <a href="https://www.aihw.gov.au/reports/heart-stroke-vascular-diseases/hsvd-facts/contents/risk-factors/overweight-and-obesity">being overweight</a> increases your blood pressure. <a href="https://www.ahajournals.org/doi/10.1161/JAHA.121.022277">A study</a> of more than 60,000 people found smoking and high blood pressure were the strongest risk factors for a brain aneurysm. <h2>Is it always a medical emergency?</h2> About <a href="https://www.ncbi.nlm.nih.gov/books/NBK557867/">three in 100 people</a> will have a brain aneurysm, varying in size from <a href="https://www.ncbi.nlm.nih.gov/books/NBK557867/">less than 5mm to more than 25mm</a> in diameter. The majority are only discovered while undergoing imaging for something else (for example, head trauma), because small aneurysms may not cause any symptoms. Larger aneurysms can cause symptoms because they can <a href="https://www.mayoclinic.org/diseases-conditions/brain-aneurysm/symptoms-causes/syc-20361483">press against brain tissues and nerves</a>. Sandilands described “<a href="https://www.abc.net.au/news/2025-02-03/kyle-sandilands-brain-aneurysm-diagnosis/104888826">a lot of headache problems</a>” leading up to his diagnosis. Headaches can be due to <a href="https://www.mayoclinic.org/diseases-conditions/brain-aneurysm/symptoms-causes/syc-20361483">minor leaks of blood</a> from the aneurysm. They indicate a risk of the aneurysm rupturing in subsequent days or weeks. Less than <a href="https://www.nature.com/articles/s41467-024-46015-2">one in 100 brain aneurysms will rupture</a>, often called a “brain bleed”. This causes a <a href="https://www.hopkinsmedicine.org/health/conditions-and-diseases/subarachnoid-hemorrhage#:%7E:text=A%20subarachnoid%20hemorrhage%20is%20bleeding,brain%20and%20inside%20the%20skull.">subarachnoid haemorrhage</a>, which is a <a href="https://www.nhs.uk/conditions/subarachnoid-haemorrhage/">type of stroke</a>. If it does occur, rupture of a brain aneurysm is <a href="https://www.ncbi.nlm.nih.gov/books/NBK507902/">life-threatening</a>: nearly one in four people will die within 24 hours, and one in two within three months. If someone’s brain aneurysm ruptures, they usually experience a sudden, severe headache, often described as a “<a href="https://www.bafound.org/blog/three-signs-your-bad-headache-might-be-a-ruptured-brain-aneurysm/">thunderclap headache</a>”. They may also have <a href="https://www.ninds.nih.gov/health-information/disorders/cerebral-aneurysms">other symptoms of a stroke</a> such as changes in vision, loss of movement, nausea, vomiting and loss of consciousness. <h2>Surgery can prevent a rupture</h2> Whether surgery will be used to treat a brain aneurysm depends on its size and location, as well as the age and health of the patient. The medical team will balance the potential benefits with the risks of the surgery. A small aneurysm with low risk of rupture will usually <a href="https://pmc.ncbi.nlm.nih.gov/articles/PMC2323531/">just be monitored</a>. However, once a brain aneurysm reaches <a href="https://www.ncbi.nlm.nih.gov/books/NBK507902/">7mm or more</a>, surgery is generally needed. In <a href="https://www.nhs.uk/conditions/brain-aneurysm/treatment/#:%7E:text=A%20cut%20is%20made%20in,permanently%20clamped%20on%20the%20aneurysm.">surgery to repair a brain aneurysm</a>, the surgeon will temporarily remove a small part of the skull, then cut through the coverings of the brain to place a tiny metal clip to close off the bulging part of the aneurysm. Another option is <a href="https://www.hopkinsmedicine.org/health/treatment-tests-and-therapies/endovascular-coiling">endovascular</a> (meaning within the vessel) coiling. A surgeon can pass a catheter into the femoral artery in the thigh, through the aorta to the brain. They can then place a coil inside the aneurysm which forms a clot to close off the aneurysm sac. <a href="https://medlineplus.gov/ency/article/007372.htm">After either surgery</a>, usually the person will stay in hospital for up to a week. It can take <a href="https://www.healthline.com/health/brain-aneurysm-clipping-surgery#recovery">6–8 weeks</a> for full recovery, though doctors may continue monitoring with annual imaging tests for a few years afterwards. You can <a href="https://www.medicalnewstoday.com/articles/how-to-prevent-a-brain-aneurysm#prevention">lower your risk of a brain aneurysm</a> by not smoking, moderating alcohol intake, eating a healthy diet, exercising regularly and maintaining a healthy weight.<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/248882/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/theresa-larkin-952095">Theresa Larkin</a>, Associate Professor of Medical Sciences, <a href="https://theconversation.com/institutions/university-of-wollongong-711">University of Wollongong</a> and <a href="https://theconversation.com/profiles/jessica-nealon-1481995">Jessica Nealon</a>, Senior Lecturer in Medical Sciences (Neuroscience), <a href="https://theconversation.com/institutions/university-of-wollongong-711">University of Wollongong</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/around-3-of-us-will-develop-a-brain-aneurysm-in-our-lives-so-what-is-it-and-how-do-you-treat-it-248882">original article</a>. </div>

Body

Anthony Albanese fast-tracks cost of living relief

Prime Minister Anthony Albanese is set to fast-track legislation to introduce new measures to help struggling families and students during the ongoing cost of living crisis. The legislation will be introduced to parliament in the next two weeks which will include a guarantee of three days of subsidised childcare each week for Australian families, and will make fee-free TAFE permanent. The Labor government said three days of subsidised childcare is “about putting in place the building blocks for a universal childcare system”, with Education Minister Jason Clare saying the policy “is fundamentally about making sure every child gets a great start in life and start school ready to learn." “At the moment the children who need early education the most can’t access it,” Clare said. “They are missing out. As a result they start school behind and often never catch up. This will help fix that. Every child has the right to go to school — and governments have a responsibility to make that possible." “We believe every child has the right to go to early education, to help make sure they don’t start school behind — and our Labor government is going to make this possible.” Passing laws to make fee-free TAFE permanent will save “students thousands of dollars to train in key occupations, while delivering the skilled workers Australia needs”, the Albanese government said. “Our focus is on Building Australia’s Future while helping with the cost of living now,” Leader of the House Tony Burke said. “This fortnight we’ll continue delivering on that agenda — securing cost-of-living support for families through childcare reforms, while setting up our future prosperity through skills, training and future industry,” Burke said. Opposition Leader Peter Dutton has opposed most cost-of-living measures, claiming they will have the opposite effect by pushing up inflation and delaying interest rate cuts. However, underlying inflation is now sitting at 3.2 per cent, and most economists believe the Reserve Bank will cut rates on February 18th. Image credits: LUKAS COCH/EPA-EFE/Shutterstock Editorial

Money & Banking

Cabana drama: 5 expert tips on how not to be branded a twit when using a beach tent

<div class="theconversation-article-body"><a href="https://theconversation.com/profiles/samuel-cornell-1418374">Samuel Cornell</a>, <a href="https://theconversation.com/institutions/unsw-sydney-1414">UNSW Sydney</a> Debate erupted this week over the growing number of beach tents, or “cabanas”, proliferating on Australian beaches. The controversy, which <a href="https://www.tiktok.com/@gunclediaries/video/7453200613170564370">began on social media</a>, was fuelled by Prime Minister Anthony Albanese who declared it was “not on” for beachgoers to reserve a spot on the sand by erecting a cabana then leaving it vacant for hours. Albanese <a href="https://www.pm.gov.au/media/television-interview-today-show-19">told</a> Nine’s Today show “everyone owns the beach” and staking a claim on the sand was “a breach of that principle, really”. Other critics deem beach cabanas an eyesore. And lifeguards say <a href="https://www.abc.net.au/news/2023-01-21/busy-beaches-noosa-cabana-craze-surf-lifesavers/101875660">the structures can</a> obscure their view of the water, which poses a safety risk. Beach cabanas do, however, serve <a href="https://www.sciencedirect.com/science/article/pii/S0190962208007330?via%3Dihub">a valid purpose</a>. They provide some <a href="https://theconversation.com/i-cant-get-sunburnt-through-glass-shade-or-in-water-right-5-common-sunburn-myths-busted-150640">protection against the sun’s harmful ultraviolet rays</a> and, from a recreational perspective, can enable people to spend longer at the beach on hot days than they might have otherwise. I’m a member of the University of NSW <a href="https://www.beachsafetyresearch.com">Beach Safety Research Group</a>, and I’ve worked with local councils and national parks to address health and safety issues on beaches. So let’s look at how to strike the right balance between personal convenience and public safety when using a cabana. <figure><iframe src="https://www.youtube.com/embed/U4W_2ti5QUk?wmode=transparent&start=0" width="440" height="260" frameborder="0" allowfullscreen="allowfullscreen"></iframe></figure> <h2>A fair go for all?</h2> In years past, Aussies came to the beach with a towel and maybe a book, stayed a little while then left. But more recently, the use of beach tents and cabanas has grown. It’s likely the result of Australia’s <a href="https://soe.dcceew.gov.au/coasts/pressures/population">growing coastal population</a>, and a rising awareness of the dangers posed by sun exposure. These days, it’s not uncommon to visit a popular beach in summer and find a village of cabanas stretching as far as the eye can see. It’s great to see so many people using the beach. Beaches and oceans are <a href="https://www.sciencedirect.com/science/article/pii/S0013935120310665">health-giving places</a>, though they come with inherent dangers. And of course, in Australia the beach is free for all who wish to use it. It’s an approach in line with our <a href="https://www.theguardian.com/commentisfree/2020/oct/12/even-without-private-clubs-the-egalitarian-australian-beach-is-a-national-myth">supposedly egalitarian culture</a>, in which everyone gets a “fair go”. Here, beaches are a place to be shared, no matter what your income or social status. The approach contrasts to many destinations in Europe, the United States and elsewhere, where large sections of beaches are reserved for private use. At Waikiki beach in Honolulu, for example, people <a href="https://www.waikikibeachservices.com/royal-hawaiian/beach-umbrella-chair-rental/">pay US$100 or more</a> to hire an umbrella and chairs, and a place on the sand for the day. To some naysayers, cabana use in Australia <a href="https://www.theguardian.com/australia-news/2025/jan/07/everyone-owns-the-beach-prime-minister-anthony-albanese-weighs-in-cabana-debate">challenges the notion</a> that the beach is for everyone. They question whether people should be allowed to mark out beach territory no-one else can use. That’s why in 2020, a bid by a private company to introduce paid cabanas on Sydney’s Bondi Beach <a href="https://www.9news.com.au/national/bondi-beach-petition-to-open-paid-cabanas-on-sand-amalfi-beach-club/ef1ddae5-e24e-4dd8-810d-f0d9ba5c2971">prompted a public outcry</a>. Cabanas bring practical challenges, too. They represent an unplanned influx of temporary infrastructure into busy public spaces. Left unchecked, they could cause pedestrian congestion and become a flashpoint for disagreement between beachgoers. The current debate may prompt Australian beach authorities to consider bringing in cabana regulation, similar to what’s in place for <a href="https://www.smh.com.au/national/nsw/does-sydney-need-us-style-cabana-ban-to-curb-beach-spreading-20230202-p5chgi.html">some beaches in the US</a>. In the meantime, here are five tips for safe and fair use of beach cabanas: 1. Placement: Erect your cabana at the back of the beach and away from lifeguard towers or lifesaver tents to avoid obstructing lifeguards’ views. Clear sightlines to the water are essential for ensuring timely emergency responses. This positioning also leaves space closer to the water for other beachgoers, including children playing at the water’s edge. 2. Tying down: Secure your cabana firmly in the sand to prevent it from being blown away by strong winds. Flying cabanas are a danger to other beach users, potentially causing injuries and damage to property. 3. Spacing: Avoid overcrowding by maintaining two to three meters between structures. This ensures free movement and accessibility for all beachgoers, and ensures families and groups can enjoy the beach without feeling cramped. Also, stay within the boundaries of your cabana and don’t claim territory outside its boundaries. 4. Emergency access: Keep pathways and access points clear at all times. This is crucial for lifeguard vehicles, ambulances and surf rescue teams. Unobstructed access can make the difference between life and death in an emergency. 5. Common sense: As with using any shared space, consider the needs of others and apply common sense. How would you feel if someone set up a structure right in front of you, blocking your view of the waves or ruining your vibe? Or if you or a loved one needed medical attention on a beach, would you want an ambulance crew obstructed by an unbroken line of tents? <h2>Looking ahead</h2> In the past, some have called for <a href="https://au.news.yahoo.com/calls-grow-to-ban-cabanas-on-aussie-beaches-get-out-and-leave-051701259.html">a ban on beach cabanas</a>. But the structures appear here to stay – and that’s not a bad thing. Skin cancer <a href="https://www.aihw.gov.au/reports/cancer/cancer-in-adolescents-and-young-adults-in-australi/contents/summary">affects more young Australians</a> than any other cancer, and the Cancer Council <a href="https://www.abc.net.au/news/2023-01-26/cancer-council-beach-cabanas-skin-cancer-rate-highest-in-qld/101887320">applauds the use of cabanas</a>. It’s important to note, however, that cabanas do not <a href="https://pmc.ncbi.nlm.nih.gov/articles/PMC3873510/">provide complete protection from UV rays</a>. If you’re at the beach all day, <a href="https://theconversation.com/do-beach-cabanas-actually-protect-you-from-the-sun-199102">you might still get too much sun</a> even under a tent. When it comes to your next visit to the coast, by all means pack your cabana. But make sure you use it carefully and responsibly, so everyone’s day at the beach is safe and enjoyable.<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/246882/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/samuel-cornell-1418374">Samuel Cornell</a>, PhD Candidate, UNSW Beach Safety Research Group + School of Population Health, <a href="https://theconversation.com/institutions/unsw-sydney-1414">UNSW Sydney</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/cabana-drama-5-expert-tips-on-how-not-to-be-branded-a-twit-when-using-a-beach-tent-246882">original article</a>. </div>

Travel Tips

Mum furious over grandmother’s refusal to use car seat for her child

A mother has voiced her frustration over her own mother’s major babysitting error. The woman, who has a son of her own, shared that her parents regularly look after their grandchild, but has grown more and more annoyed that one request has been ignored. In her lengthy post on Reddit, the woman wrote that her mother has taken her grandson in a car without a car seat more than once. She wrote, "I'm livid and won't be letting her take him out again but needed to vent. My parents look after my son for me now and again, he loves them, and they love him, but my mom is really testing me. Twice now she has had him in someone's car without his car seat." She continued: "The first time it happened, I didn't let her see him for a month. I knew they were taking him out and had left his car seat for them, but she didn't use it as they were only 'going around the corner.' I screamed and shouted about her putting my son at risk.” “She tried to backtrack and lie her way out of it, but at the end of the day, she disrespected me." "That was almost a year ago; yesterday, she had him as I had work in London, and hubby was at work; she said they were taking him out and promised she would use the car seat. I stressed to her how she won't see him again if they don't use it and guess what, they didn't use it." The end of the post reads: "I'm livid, I'm going to see her today to shout and give an ultimatum, why don't people listen?! 'Oh, he was fine. We only went two streets away. You're being dramatic…'" "'Dramatic' when there's an insane storm going on, and anything could have happened. [She] won't be having him again. I feel like a d*** for trusting and believing her.” Hundreds of comments poured in from other mothers backing up the woman’s decision, as one person wrote, "She is playing Russian roulette with your child's life. Stay strong in this decision." Another simply wrote, “Why even take the risk? Why?!" Image credits: Shutterstock

Family & Pets

Voluntary assisted dying is legal in Australia – but many of us don’t know

<div class="theconversation-article-body"> <a href="https://theconversation.com/profiles/ben-white-15387">Ben White</a>, <a href="https://theconversation.com/institutions/queensland-university-of-technology-847">Queensland University of Technology</a>; <a href="https://theconversation.com/profiles/lindy-willmott-15386">Lindy Willmott</a>, <a href="https://theconversation.com/institutions/queensland-university-of-technology-847">Queensland University of Technology</a>, and <a href="https://theconversation.com/profiles/rachel-feeney-140352">Rachel Feeney</a>, <a href="https://theconversation.com/institutions/queensland-university-of-technology-847">Queensland University of Technology</a> Voluntary assisted dying is lawful in <a href="https://www.unswlawjournal.unsw.edu.au/wp-content/uploads/2023/12/Issue-464-10-Waller-et-al.pdf">all Australian states</a>. This allows terminally ill adults who are suffering and have decision-making capacity to choose to receive help to die. Victoria’s law was the first, coming into effect <a href="https://theconversation.com/voluntary-assisted-dying-will-soon-be-legal-in-victoria-and-this-is-what-you-need-to-know-111836">in 2019</a>. New South Wales was the last state, with its <a href="https://theconversation.com/voluntary-assisted-dying-is-now-available-in-all-australian-states-how-do-the-nsw-laws-compare-217261">voluntary assisted dying law</a> beginning in late 2023. Voluntary assisted dying will be <a href="https://www.act.gov.au/health/topics/end-of-life-and-palliative-care/voluntary-assisted-dying-in-the-act">allowed in the Australian Capital Territory</a> in November, and a <a href="https://cmc.nt.gov.au/project-management-office/voluntary-assisted-dying">Northern Territory report</a> has recommended it pass a voluntary assisted dying law too. While the vast majority of Australians now live in jurisdictions where voluntary assisted dying is permitted, accessing voluntary assisted dying depends on knowing it’s a legal option. But our <a href="https://www.tandfonline.com/doi/full/10.1080/07481187.2025.2452490">new research</a> suggests many Australians don’t know this. <h2>A study in Queensland</h2> Voluntary assisted dying became legal <a href="https://www.health.qld.gov.au/clinical-practice/guidelines-procedures/voluntary-assisted-dying/explained/overview">in Queensland</a> on January 1, 2023. We conducted <a href="https://eprints.qut.edu.au/255019/">an online survey</a> of 1,000 Queensland adults in mid-2024 to find out if the community knew about this new end-of-life choice. We set quotas for age, gender and geographical location to ensure the people we surveyed represented the overall Queensland population. First, we asked whether people thought voluntary assisted dying was legal in Queensland. Only <a href="https://research.qut.edu.au/voluntary-assisted-dying-regulation/wp-content/uploads/sites/292/2025/01/Do-people-know-VAD-is-legal-Research-briefing.pdf">one-third (33%) correctly identified</a> it was. Of the 67% who didn’t, 41% thought voluntary assisted dying was illegal and 26% said they didn’t know. People who did know voluntary assisted dying was legal had generally found out in one of three ways: <ul> <li> from the media </li> <li> from professional experience (for example, working in health care) </li> <li> from personal experience (for example, knowing someone who had asked about, requested or accessed voluntary assisted dying). </li> </ul> We then told our survey participants voluntary assisted dying was legal in Queensland and asked if they would know how to go about accessing it if they wished to. Only one-quarter (26%) answered yes. The survey also asked people where they might look for information about voluntary assisted dying. Most people said they would seek this information online, but asking health practitioners, especially doctors, was also important. <h2>Legal and cultural barriers</h2> Perhaps it’s not surprising so few members of the surveyed public know voluntary assisted dying is a legal choice. It’s still a relatively new law. But there are <a href="https://onlinelibrary.wiley.com/doi/10.1111/hex.13867">specific barriers</a> in Australia that can prevent people finding out about it. One major barrier is health practitioners are often <a href="https://onlinelibrary.wiley.com/doi/10.5694/mja2.52183">not able to freely discuss</a> voluntary assisted dying with their patients. The laws in all states control how conversations about voluntary assisted dying can occur. For example, in Queensland, only doctors and nurse practitioners <a href="https://classic.austlii.edu.au/au/legis/qld/consol_act/vada2021302/s7.html">can raise voluntary assisted dying</a> and only if they also discuss available treatment and palliative care options and their likely outcomes. But the most problematic are <a href="https://classic.austlii.edu.au/au/legis/vic/consol_act/vada2017302/s8.html">Victorian</a> and <a href="https://www.austlii.edu.au/cgi-bin/viewdoc/au/legis/sa/consol_act/vada2021302/s12.html">South Australian</a> laws which prohibit health practitioners from raising the topic with patients altogether. Many people rely on their doctor to tell them about treatment options, so it’s a problem if the onus is on the patient to bring it up first. <a href="https://onlinelibrary.wiley.com/doi/10.5694/mja2.52183">Conscientious objection</a> is another significant barrier. Some doctors are opposed to voluntary assisted dying and even if they practise in a state where they can legally raise it, may choose not to tell their patients about it. This is another reason patients may not know voluntary assisted dying could be a choice for them. It’s important to note our study was only done in Queensland, so we can’t be confident the findings represent the wider Australian population. But given these barriers to knowing about voluntary assisted dying, it’s reasonable to anticipate similar trends in other states. <h2>A national challenge</h2> Raising community awareness of voluntary assisted dying is a challenge around the country. Voluntary assisted dying oversight boards from five states (<a href="https://www.health.qld.gov.au/__data/assets/pdf_file/0019/1362124/vad-annual-report-2023-24.pdf">Queensland</a>, <a href="https://www.health.tas.gov.au/sites/default/files/2024-09/voluntary_assisted_dying_annual_report_2023-24.pdf">Tasmania</a>, <a href="https://www.health.vic.gov.au/sites/default/files/2024-09/voluntary-assisted-dying-review-board_annual-report-2023-24.pdf">Victoria</a>, <a href="https://www.health.wa.gov.au/%7E/media/Corp/Documents/Health-for/Voluntary-assisted-dying/VAD-Board-Annual-Report-2023-24.pdf">Western Australia</a> and <a href="https://www.sahealth.sa.gov.au/wps/wcm/connect/73a3fd16-46c4-4ad4-bd82-7a03a924c1bc/VAD+Review+Board+Annual+Report+2023-2024+-+FINAL.pdf?MOD=AJPERES&CACHEID=ROOTWORKSPACE-73a3fd16-46c4-4ad4-bd82-7a03a924c1bc-pdMyZ1p">South Australia</a>) have all discussed this issue in their most recent annual reports. In addition, Western Australia recently reviewed its voluntary assisted dying laws, identifying lack of community knowledge as a problem. The <a href="https://www.parliament.wa.gov.au/publications/tabledpapers.nsf/displaypaper/4113439a2331593cd11da0ae48258be300355868/%24file/voluntary+assisted+dying+act+2019+final+report.pdf">review called for a strategy</a> to fix this. We see this challenge as one of “voluntary assisted dying literacy”. Greater voluntary assisted dying literacy will enable members of the public to know the options available to them, and how to make the choices they want. <h2>What can we do about this?</h2> We need community awareness initiatives to increase knowledge that voluntary assisted dying is legal and ensure people know where to find information about this option. Information about voluntary assisted dying is already available from all <a href="https://www.health.qld.gov.au/clinical-practice/guidelines-procedures/voluntary-assisted-dying">state government health departments</a>, but more action is needed to ensure it reaches more people. Respondents in our survey suggested using social media campaigns, advertising, and sharing information through Centrelink, health clinics and other trusted community channels. We also propose targeted information for particular patient groups who may be eligible for voluntary assisted dying, such as people with cancer or neurodegenerative diseases. This means they will know voluntary assisted dying may be one of the treatment options available to them, and how to navigate the process should they wish to. These initiatives would need to be designed sensitively with a focus on providing information to avoid any perception that people could feel induced or directed to access voluntary assisted dying. Training for health practitioners is also important. This is particularly needed for GPs and specialists working in end-of-life care. Training will support health practitioners to facilitate informed discussions with patients and families. Strong community support was a <a href="https://www.parliament.vic.gov.au/4af889/contentassets/1fa966ea0b6c4034a82bca04f57a19b9/lsic_58-05_text_web.pdf">key argument</a> in legalising voluntary assisted dying in Australia. The public wanted this as an end-of-life choice. But that choice is only a real one if people know it exists. Our online resource <a href="https://end-of-life.qut.edu.au/assisteddying">End of Life Law in Australia</a> has more information about voluntary assisted dying and contact points for accessing it in each state.<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/248114/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/ben-white-15387">Ben White</a>, Professor of End-of-Life Law and Regulation, Australian Centre for Health Law Research, <a href="https://theconversation.com/institutions/queensland-university-of-technology-847">Queensland University of Technology</a>; <a href="https://theconversation.com/profiles/lindy-willmott-15386">Lindy Willmott</a>, Professor of Law, Australian Centre for Health Law Research, <a href="https://theconversation.com/institutions/queensland-university-of-technology-847">Queensland University of Technology</a>, and <a href="https://theconversation.com/profiles/rachel-feeney-140352">Rachel Feeney</a>, Research Fellow, Australian Centre for Health Law Research, <a href="https://theconversation.com/institutions/queensland-university-of-technology-847">Queensland University of Technology</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/voluntary-assisted-dying-is-legal-in-australia-but-many-of-us-dont-know-248114">original article</a>. </div>

Legal

Readers response: Which discontinued fast food item do you want to come back?

We asked our reader what discontinued food item they would love to see make a comeback. Here's what they said. Lillian Mary Brand - KFC had this wicked bean salad back in the 80's!!! Loved it!! Ellen Kuchel - Lattice Biscuits and Polly Waffles. Phill Johnston - All you can eat at Pizza Hut. Bruce Hopkins - Henny Penny Chicken. Sharyn Wood - KFC in the late 60s early 70s had the most amazing gravy I have ever tasted. A pot of the gravy with their bread rolls was a very cheap meal! Herman Zirkzee - Real milkshakes in metal containers with ice cream and malt. Maureen Whale - Georgie Pie. Robyn Joy Davis - Potato skins from Sizzlers. Christine Murphy - Scrambled eggs and big breakfast from Macca's. Julia Haffenden - Hungry Jack's hotdog and Yumbos. Image credits: Shutterstock

Food & Wine

Brave pensioner fights off robber using a pair of jeans

A 84-year-old man has been praised for his heroic actions as he fought off a robber with a pair of jeans. Ron Croker, from Yorkshire in the UK, was doing his washing at a laundromat when the would-be robber burst in and demanded, "Give me you f****** money now!" Mr Croker stood his ground and refused to give up his wallet, slowly walked towards the man and managed to force him out, all while holding a pair of his jeans in one hand. As he went to return to his washing, the robber reentered the laundromat for a second try, when Mr Croker jumped into action. The man screamed "get off!" and whipped him with the jeans as he again bundled him out the launderette. <blockquote class="instagram-media" style="background: #FFF; border: 0; border-radius: 3px; box-shadow: 0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width: 540px; min-width: 326px; padding: 0; width: calc(100% - 2px);" data-instgrm-permalink="https://www.instagram.com/reel/DE2taf2IkXx/?utm_source=ig_embed&utm_campaign=loading" data-instgrm-version="14"> <div style="padding: 16px;"> <div style="display: flex; flex-direction: row; align-items: center;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 40px; margin-right: 14px; width: 40px;"> </div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 100px;"> </div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 60px;"> </div> </div> </div> <div style="padding: 19% 0;"> </div> <div style="display: block; height: 50px; margin: 0 auto 12px; width: 50px;"> </div> <div style="padding-top: 8px;"> <div style="color: #3897f0; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: 550; line-height: 18px;">View this post on Instagram</div> </div> <div style="padding: 12.5% 0;"> </div> <div style="display: flex; flex-direction: row; margin-bottom: 14px; align-items: center;"> <div> <div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(0px) translateY(7px);"> </div> <div style="background-color: #f4f4f4; height: 12.5px; transform: rotate(-45deg) translateX(3px) translateY(1px); width: 12.5px; flex-grow: 0; margin-right: 14px; margin-left: 2px;"> </div> <div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(9px) translateY(-18px);"> </div> </div> <div style="margin-left: 8px;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 20px; width: 20px;"> </div> <div style="width: 0; height: 0; border-top: 2px solid transparent; border-left: 6px solid #f4f4f4; border-bottom: 2px solid transparent; transform: translateX(16px) translateY(-4px) rotate(30deg);"> </div> </div> <div style="margin-left: auto;"> <div style="width: 0px; border-top: 8px solid #F4F4F4; border-right: 8px solid transparent; transform: translateY(16px);"> </div> <div style="background-color: #f4f4f4; flex-grow: 0; height: 12px; width: 16px; transform: translateY(-4px);"> </div> <div style="width: 0; height: 0; border-top: 8px solid #F4F4F4; border-left: 8px solid transparent; transform: translateY(-4px) translateX(8px);"> </div> </div> </div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center; margin-bottom: 24px;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 224px;"> </div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 144px;"> </div> </div> <p style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; line-height: 17px; margin-bottom: 0; margin-top: 8px; overflow: hidden; padding: 8px 0 7px; text-align: center; text-overflow: ellipsis; white-space: nowrap;"><a style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: normal; line-height: 17px; text-decoration: none;" href="https://www.instagram.com/reel/DE2taf2IkXx/?utm_source=ig_embed&utm_campaign=loading" target="_blank" rel="noopener">A post shared by KTVU Channel 2 News (@ktvu2)</a> </div> </blockquote> "I've worked all my life for my money. He's not having it," Mr Croker <a href="https://www.bbc.com/news/articles/ckgyzy6weqeo" target="_blank" rel="noopener">told the BBC</a>. "I gave him an almighty shove and he went rolling into the road," he added. Despite his heroic actions, he admits the experience has left him "shaken" and "struggling to sleep", saying, "I do think about it when it's quiet at night. That's when the thoughts come. But I don't regret it." Police said a 42-year-old man had been charged with attempted robbery, and while Mr Croker sustained some bruises during the incident, a GoFundMe page has so far raised nearly £2,500 for him. Image credits: Coin-Op Launderette Maltby via Storyful / Instagram <p style="box-sizing: content-box; font-size: 21.999962px; margin: 0px auto 1.5rem; max-width: var(--article-body-width-l); transition: padding 0s ease-in-out 0s; word-break: break-word; caret-color: #4a4a4a; color: #4a4a4a; font-family: 'Sky Text', sans-serif; padding: 0px var(--site-gutter) 0px var(--site-gutter);">

Legal

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

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

Money & Banking

Do natural fabrics really keep us cooler in summer? Here’s the science

<div class="theconversation-article-body"><a href="https://theconversation.com/profiles/nisa-salim-1442233">Nisa Salim</a>, <a href="https://theconversation.com/institutions/swinburne-university-of-technology-767">Swinburne University of Technology</a> The Bureau of Meteorology has warned Australia is facing one of the <a href="https://www.abc.net.au/news/2024-10-12/australia-facing-one-of-hottest-summers-on-record-bom/104464014">hottest summers on record</a>. As the weather warms, many of us reach for light-coloured clothes in natural fabrics, such as cotton and linen. But why are natural fabrics like these so much better at keeping us cool when the weather is hot? Here’s what the science says. <h2>Natural fabrics and sweat: a match made in heaven</h2> In hot weather, we sweat. As sweat evaporates, it carries heat away, which helps cool the body down. In hot weather, then, we want clothes that help take moisture away from the body as efficiently as possible. Natural fabrics are made using fibres extracted from plant- or animal-based sources such as cotton, linen, hemp, wool and silk. The primary component of all plant-based fibres is cellulose. Animal-based fibres are made up of proteins such as keratin and silk fibroin. Cellulose molecules are rich in compounds called hydroxyl groups that attract water and moisture. In scientific terms, they are hydrophilic – they love water. So, clothing made of cotton and linen is highly hydrophilic. It tends to absorb moisture and disperse it across the fabric, allowing it to evaporate more easily. This takes the sweat away quickly, making it more comfortable and breathable and allowing us to stay cool in sweltering temperatures. One downside of the natural fabrics is they wrinkle quickly (some people, of course, like that look). And on a really hot, sweaty day, natural fabrics can get heavy and wet. Animal fibres are basically proteins, and their properties vary depending on the source. Wool has been bio-engineered over millions of years to be comfortable to wear. Wool fibres are hydrophilic on the inside and hydrophobic on the outside, meaning they’re both water resistant and good at wicking moisture away. On the other hand, silk fabrics are very good at helping regulate temperature; they keep us cool in hot weather and warm in cold weather. <h2>Synthetic fabrics: less wrinkly, more sweaty</h2> Synthetic fabrics, on the other hand, are lighter and tend to wrinkle less. Common synthetic fabrics (such as polyester, nylon and acrylic) are all made from petroleum-based chemicals. Most synthetic fibres are made of long chains of hydrogen and carbon atoms and do not contain the hydroxyl groups we discussed earlier. Such fibres are therefore hydrophobic – they hate water. This means the water can’t spread evenly across the fabric and evaporate easily. They trap sweat against the skin, making the clothes less breathable and comfortable when the weather is warm and humid. However, some synthetic fabrics used in certain types of active wear can wick sweat away from body. And some semi-synthetic fabrics such as rayon or tencel (which are made from wood pulp or cotton with synthetic fibres) are more breathable than other synthetic fabrics such as polyester or nylon. <h2>Fabric weave makes a difference, too</h2> The colour of the clothing is also a contributing factor to keep you cool during summer. Light colours reflect sunlight away from you and help to keep the body cooler. There is some evidence dark colours absorb the <a href="https://www.sciencedirect.com/science/article/pii/S2214157X23012054">sunlight and associated heat</a>, making the surface of the skin warmer than normal. Another factor affecting breathability and comfort of clothing is the way the fabrics are woven. Fabrics that are loosely woven (sometimes known as “open weave”) with thinner materials naturally have more airflow, which helps you keep cool. For a quick, non-scientific test, hold a fabric up and see how much light passes through it. The more light you can see, the more breathable it likely is. The way the fabric is treated can play a role, too; such as for softening and wrinkle resistance. Using a fabric softener when you do a load of laundry usually doesn’t affect fabric breathability; softeners modify the surface of the fabric but don’t change the internal structure or porous nature of the fabrics. Wrinkle resistance is the ability of the fabric to stay smooth and polished even after washing. Synthetic fabrics are inherently wrinkle resistant. Natural fibres are more prone to wrinkles but can be chemically treated on the fabric surface during manufacturing to make them wrinkle resistant. Such treatments, however, may form layers on top of the fabric blocking the airflow, leading them to be less breathable.<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/240909/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/nisa-salim-1442233">Nisa Salim</a>, Senior Lecturer at the School of Engineering, <a href="https://theconversation.com/institutions/swinburne-university-of-technology-767">Swinburne University of Technology</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/do-natural-fabrics-really-keep-us-cooler-in-summer-heres-the-science-240909">original article</a>. </div>

Beauty & Style

Retiring with debt? Experts explain downsizing, using super for your mortgage, and pension eligibility

<div class="theconversation-article-body"> <a href="https://theconversation.com/profiles/kathleen-walsh-218536">Kathleen Walsh</a>, <a href="https://theconversation.com/institutions/university-of-technology-sydney-936">University of Technology Sydney</a> and <a href="https://theconversation.com/profiles/jemma-briscoe-2234812">Jemma Briscoe</a>, <a href="https://theconversation.com/institutions/university-of-technology-sydney-936">University of Technology Sydney</a> About <a href="https://cepar.edu.au/sites/default/files/cepar-research-brief-housing-ageing-australia.pdf">36%</a> of homeowners still have a mortgage when they retire, up from 23% a decade ago. This increase in mortgage debt is due to soaring property prices, <a href="https://www.mlc.com.au/content/dam/mlc/documents/pdf/retirement/retirement-reports-housing-report.pdf">changes in retirement ages</a> and easy access to <a href="https://www.dss.gov.au/our-responsibilities/seniors/benefits-payments/home-equity-access-scheme">drawdown equity loans</a> (where you use your home as security to get a loan, which can be used to fund travel, medical costs and other expenses). So, what are the options for homeowners who carry debt into retirement? <h2>Option 1: keeping the home and the debt</h2> If you keep the family home in retirement, you get to own a property and can still receive the <a href="https://www.dva.gov.au/get-support/financial-support/income-support/what-changes-your-payments/your-property-or-accommodation/how-owning-home-can-affect-pensions-and-payments">age pension</a>. For example: Jackie has a home worth A$2 million with a $200,000 mortgage. She also has $800,000 in superannuation. She is 67 but is not eligible for the age pension because her <a href="https://moneysmart.gov.au/how-super-works/tax-and-super#:%7E:text=If%20you're%20aged%2060%20or%20over%20and%20withdraw%20a,as%20a%20public%20sector%20fund.">assessable assets</a> – her super – is above the $695,500 cut off. If Jackie takes $200,000 from her super and repays the outstanding mortgage debt, she will save on interest and principal repayments for the next ten years. She will also reduce her assessable assets by $200,000. This makes her eligible for a part pension. So while Jackie has less super, she gets to receive a pension and gets all the subsidies associated with being a pensioner. <h2>Option 2: downsizing to clear the debt</h2> Downsizing can extinguish any remaining debt, and can free up money for holidays, restaurants and the good life in retirement. It also enables a move to a more age-friendly home or apartment. And the government does provide a superannuation incentive via the <a href="https://www.ato.gov.au/individuals-and-families/super-for-individuals-and-families/super/growing-and-keeping-track-of-your-super/how-to-save-more-in-your-super/downsizer-super-contributions">downsizing contribution</a>. This allows homeowners over 55 who have lived in their home for more than ten years to make a one-off contribution of $300,000 (singles) and $600,000 (couples) to their super, using money from the sale of their home. But when a person reaches pension age, currently 67, any money in super will be included in <a href="https://www.servicesaustralia.gov.au/deeming?context=22526">the government’s assessment</a> of your financial assets and income. It could mean you don’t qualify for a pension or pensioner subsidies. Of the approximately 2.6 million who receive a part or full the age pension, only <a href="https://www.ato.gov.au/about-ato/research-and-statistics/in-detail/super-statistics/downsizer-super-contributions-data">78,000 people</a> have taken up this initiative. That begs the question if this option really does create a true financial downsizing incentive. Think again of Jackie, the woman with the $2 million home and the $200,000 in mortgage debt. Say she decides to sell her home and move to a smaller house close to family and friends. This will incur about $40,000 in selling and marketing fees, and stamp duty of around $62,000 on her new $1.4 million apartment. Downsizing leaves her with $1.1 million in financial assets (after transaction costs), which means that Jackie is not eligible for the pension. While she’ll be able to fund a comfortable lifestyle, this decision to downsize may not be as attractive as keeping the house. The decision to sell and move has cost her an extra $100,000 in transaction costs and her pension. So, people need to think carefully about downsizing. It can allow people to move closer to children, grandchildren, and the services they need – but these must be balanced against the financial implications. <h2>What about renters?</h2> Paying market rent while on a fixed income can be very hard, so renting is a challenge for retirees. According to the <a href="https://www.abs.gov.au/statistics/people/housing/housing-census/latest-release">2021 census</a>, women aged 55-64 and those over 65 are among the fastest-growing groups experiencing homelessness. The good news is many profit and not-for-profit retirement communities provide rental models and discounted entry contributions to residents with limited means (but there are often waiting lists). Retirement village residents may also be eligible for <a href="https://guides.dss.gov.au/social-security-guide/4/6/4/30">rent assistance</a> depending on their circumstances. Rent assistance is an extra $5,751 per year in social security benefits and provides extra financial support to <a href="https://guides.dss.gov.au/social-security-guide/5/1/7/10">eligible age pension recipients</a>. Retirement communities provide vulnerable older Australians a unique opportunity to move into a community under a leasehold or licence agreement. More than 260,000 senior Australians live in about <a href="https://www.propertycouncil.com.au/media-releases/retirement-living-construction-leads-wary-market">2,500 retirement communities</a> across the country. While a retirement village may not be the first option for many retirees, they can provide affordable accommodation. <h2>Making the best choice</h2> Navigating housing decisions as you approach retirement means balancing financial, emotional, and lifestyle considerations. Homeowners retiring with a mortgage face a choice: keep their home or downsize to alleviate debt. Keeping the home and accessing super to pay the outstanding debt improves cash flow and allows you to keep your biggest asset. Downsizing helps eliminate debt and boosts the super balance, but comes with extra transaction costs (and you may end up with less pension, or none at all). Seeking professional <a href="https://moneysmart.gov.au/financial-advice/choosing-a-financial-adviser">financial advice</a> is crucial, and ensure they are a registered <a href="https://moneysmart.gov.au/financial-advice/financial-advisers-register">financial advisor</a>.<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/240679/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/kathleen-walsh-218536">Kathleen Walsh</a>, Professor of Finance, <a href="https://theconversation.com/institutions/university-of-technology-sydney-936">University of Technology Sydney</a> and <a href="https://theconversation.com/profiles/jemma-briscoe-2234812">Jemma Briscoe</a>, Adjunct lecturer in finance, <a href="https://theconversation.com/institutions/university-of-technology-sydney-936">University of Technology Sydney</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/retiring-with-debt-experts-explain-downsizing-using-super-for-your-mortgage-and-pension-eligibility-240679">original article</a>. </div>

Retirement Income

How to make gravy (using chemistry)

<div class="theconversation-article-body"><a href="https://theconversation.com/profiles/nathan-kilah-599082">Nathan Kilah</a>, <a href="https://theconversation.com/institutions/university-of-tasmania-888">University of Tasmania</a> “Gravy Day” is a relatively new date in the Australian calendar. Paul Kelly’s song <a href="https://theconversation.com/humbug-tinsel-and-gravy-in-search-of-the-perfect-christmas-pop-song-88924">How to Make Gravy</a> tells the story of a prisoner (Joe) writing to his brother on December 21. Joe laments missing the family Christmas celebrations and asks who will make gravy for the roast lunch in his absence. While a roast may not be everyone’s idea of the perfect <a href="https://theconversation.com/a-festive-feast-of-fish-and-fruit-the-creation-of-the-australian-christmas-dinner-151201">Christmas feast</a>, “Gravy Day” does give the opportunity to discuss the chemistry involved in making gravy – a thickened sauce made from drippings collected from roasted meats. <h2>Give my love to Angus (beef?)</h2> Roasting meat sets off a cascade of chemical reactions, producing myriad new flavour chemicals. More than <a href="https://link.springer.com/chapter/10.1007/978-1-4615-2143-3_10#:%7E:text=This%20has%20resulted%20in%20the,and%20lean%20components%20of%20meat.">1,000</a> flavour compounds have been identified in roasted meats. Each chemical gives its unique characteristics to the taste and smell of the finished roast. The chemical <a href="https://www.sciencedirect.com/science/article/pii/S0308814698000764">12-methyltridecanal</a> helps give roast beef its “beefy” flavour, while the sulfur-containing compound <a href="https://www.sciencedirect.com/science/article/pii/S0963996922004422">2-methyl-3-furanthiol</a> is more often found in roast chicken. There are three main types of chemical reactions taking place when roasting meats that produce flavour chemicals. The <a href="https://theconversation.com/kitchen-science-from-sizzling-brisket-to-fresh-baked-bread-the-chemical-reaction-that-makes-our-favourite-foods-taste-so-good-58577">Maillard reaction</a> is responsible for both colour and flavour. This broad reaction type takes place between amino acids from the protein and sugars and simple carbohydrates found in the meat. The Maillard reaction is also the chemistry responsible for many favourite flavours, including roasted coffee, chocolate, steak, toast and more. <h2>A hundred degrees, even more maybe</h2> The other main type of reaction occurring in a hot oven is the breakdown of fats by “<a href="https://doi.org/10.1016/j.foodres.2022.111385">lipid degradation</a>”. This can form hundreds of different chemical compounds. Many of these chemicals are described as “fatty”, “tallowy”, or smell like fried foods. The unique fat profiles found in different animals translate to the profile of flavour chemicals that form from lipid degradation when roasted. Further flavour compounds can arise through the third type of reactions combining products of Maillard reactions and lipid degradation. One specific flavour compound identified as having a “gravy aroma” is known as <a href="https://pubs.acs.org/doi/10.1021/jf9023189">3-mercapto-2-methylpentan-1-ol</a>. This compound comes from roasted vegetables, so including some veggies in your roasting pan will give you more depth of gravy flavour. Also, “cutting onions” is a useful excuse if listening to How to Make Gravy gets you feeling emotional. <h2>The treasure and the trash</h2> Roasting meats causes the fats to “render” and separate from the meat as a liquid. The fat pools in the tray with flavour-rich meat juices. While the fat and the water both carry flavour compounds, too much fat can give the finished gravy an unpleasant mouth feel, or can separate into layers when served. It’s worth pouring off the pan juices into a jug to allow the fat to separate from the liquid so you can control how much fat you’re adding. Be sure to dispose of the excess fat responsibly – <a href="https://theconversation.com/why-shouldnt-i-pour-oil-or-paint-down-the-sink-and-what-should-i-do-instead-206604">don’t pour it down the drain</a>. <h2>Just add flour…</h2> Flour (or, more specifically, starch) is the secret ingredient of a good gravy. Starches are <a href="https://www.sciencedirect.com/science/article/pii/S0168945222000474">large complex chemicals</a> that are made up of lots of sugars joined together. Starch granules are tightly packed and swell greatly when they absorb water. The swollen starch molecules forms a gel-like network that traps water and oil to give a thickened gravy. Wheat flour is most often used as the starch source. Corn and arrowroot starch can also be used. They have a higher percentage of starch than flour and a more neutral flavour. Wheat starch typically requires a larger quantity to be added and longer cooking to form a paste. Whichever starch you use, don’t add it too quickly or without mixing as you’ll form lumps. <h2>…salt, red wine, and a dollop of tomato sauce</h2> Salt is a common ingredient when preparing roast meats, both on the surface of the meat to draw out moisture and as a flavouring agent. The pan juices are typically concentrated as part of the gravy making process. Make sure you taste the gravy before seasoning, as salt will be concentrated by heating. Additional flavour components can be introduced by adding red wine, sherry, stock, or tomato sauce. These ingredients will broaden the flavour profile through sweetness (sugar), acidity (vinegar, citric and malic acids), and umami in the case of tomato sauce (natural glutamates, such as those found in MSG). Some folk even add Vegemite to their gravy for an extra umami boost. <h2>I bet it will taste the same</h2> If you happen to have screwed up your gravy this time, or are after convenience, then you can turn to an instant gravy powder. The main ingredient is typically maltodextrin or another corn-derived (and possibly chemically modified) starch. Shelf-stable powdered fats, salt, colours, and a range of <a href="https://theconversation.com/busting-the-myth-that-all-food-additives-are-bad-a-quick-guide-for-label-readers-82883">flavour additives</a> will be present in varying amounts depending on the style and price point of the product. The advantages of the instant version are speed and uniformity due to the carefully controlled commercial production. So unlike Joe’s concerns for his family’s gravy, an instant gravy will be more likely to taste the same, regardless of who ends up making it.<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/219589/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/nathan-kilah-599082">Nathan Kilah</a>, Senior Lecturer in Chemistry, <a href="https://theconversation.com/institutions/university-of-tasmania-888">University of Tasmania</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-make-gravy-using-chemistry-219589">original article</a>. </div>

Food & Wine

Track your spending, use cash and DIY gifts: how to keep your costs down this Christmas

<div class="theconversation-article-body"> <a href="https://theconversation.com/profiles/angelique-nadia-sweetman-mcinnes-1361909">Angelique Nadia Sweetman McInnes</a>, <a href="https://theconversation.com/institutions/cquniversity-australia-2140">CQUniversity Australia</a> Australians are expected to spend more this Christmas than last, with spending projected to rise to <a href="https://www.shopassociation.org.au/sites/default/files/uploaded-content/field_f_content_file/2024-australian-christmas-shopping-intentions-research-report-cpmaustralia-retailsafari-1.pdf">A$69.7 billion</a>. This is a 2.7% increase on what we spent last year on gifts, food and other treats for ourselves and others. This is a lot at a time when many people are experiencing mortgage stress and high inflation. But by employing smart budgeting and spending strategies we can enjoy a festive Christmas season without huge financial stress. <h2>Know how much you are spending</h2> Being aware of what you are spending is important. So you don’t spend beyond your means, you need to decide what you are going to buy and track what you spend. Using budgeting tools in your banking app will help you monitor your spending. Your bank’s app or a <a href="https://www.savings.com.au/savings-accounts/budgeting-and-saving-apps">variety of budgeting apps</a>, can also help you find deals and stick to your financial goals. <a href="https://doi.org/10.1093/jcr/ucac024">Research</a> shows spending decreases when you use an online budgeting app by 15%. Christmas budgeting means setting clear limits, like a gift allowance for each person of, for example, under $10, $25, $50 or $100. This helps us stay on track. Before shopping, we should also ask ourselves: “Is this worth buying?” or “Do I really need this?”. <h2>How to bag a bargain</h2> About <a href="https://www.shopassociation.org.au/sites/default/files/uploaded-content/field_f_content_file/2024-australian-christmas-shopping-intentions-research-report-cpmaustralia-retailsafari-1.pdf">63% of Australian consumers</a> say they start their shopping in November, before the last-minute push to fill the Christmas stockings. This enables them to take advantage of the Black Friday sales on now and Cyber Monday, next Monday. Online research can uncover decent bargains to lower Christmas spending. Or you could wait until the Boxing Day sales to buy discounted gifts for people you don’t see until after December 25. The post-Christmas sales are also good for stocking up on heavily discounted crackers and decorations for next year. <a href="https://www.shopassociation.org.au/sites/default/files/uploaded-content/field_f_content_file/2024-australian-christmas-shopping-intentions-research-report-cpmaustralia-retailsafari-1.pdf">Most Australian shoppers</a> (89%) are combining online (websites, mobile apps, social media) with physical in-store shopping. <a href="https://www.shopassociation.org.au/sites/default/files/uploaded-content/field_f_content_file/2024-australian-christmas-shopping-intentions-research-report-cpmaustralia-retailsafari-1.pdf">Major online retailers</a> such as Amazon, eBay, and The Iconic (69%) are now more popular than department stores (59%). There are also thrift and discount stores which offer affordable gifts while using their income to help those in need. By using the internet to compare prices and set price alerts for goods you want to buy, you are more likely to get the best deals. Take time to search for store discounts. Using loyalty programs, coupons, promo codes, and free shipping also helps keep money in your pocket. <h2>Why cash at Christmas is better</h2> The <a href="https://ministers.treasury.gov.au/ministers/jim-chalmers-2022/media-releases/ensuring-future-cash-and-next-steps-phasing-out-cheques#:%7E:text=The%20Government%20will%20mandate%20that,will%20not%20be%20left%20behind.">federal government’s decision</a> last week to require businesses to accept cash, not just credit or debit cards, also has benefits for saving. Cash purchases encourage you to spend wisely, set your <a href="https://resources.depaul.edu/financial-fitness/tackle-overspending/Pages/solutions-for-overspending.aspx">spending limit, and prevent you from overspending, or paying interest and fees on cards</a>. There is also the old “<a href="https://www.ramseysolutions.com/budgeting/envelope-system-explained">cash envelope system</a>” used for centuries and popularised in the 1990s to help curb spending. This sees cash divided into envelopes, each labelled for a specific expense (for example, gifts for A, B, C). Once the money in the envelope is gone, nothing more can be spent. One way to help boost your Christmas budget; while simultaneously decluttering, your home is to sell items you no longer use. There are numerous online sites and bricks and mortar stores where this can be done. <h2>Saving money with DIY</h2> In 2024, Australians will spend an average of <a href="https://www.shopassociation.org.au/sites/default/files/uploaded-content/field_f_content_file/2024-australian-christmas-shopping-intentions-research-report-cpmaustralia-retailsafari-1.pdf">$660 per shopper on gifts</a>, with popular choices including clothing and shoes, books, and gift cards. However, it’s not necessary to buy all your gifts or Christmas decorations. Consider making affordable handmade gifts to add a personal touch. There are demonstration videos online showing you how to re-purpose old items, bake homemade festive treats, create a special moments photo album or scrapbook. Mix Epsom salts, essential oils and dried flowers to create relaxing bath salts or scrubs. Use natural pine cones or salt dough to make ornaments. Make wreaths using pine branches, holly or dried oranges. Sew fabric garlands to place on the tree, fireplace or mantle. Instead of buying multiple extravagant presents for each person, try doing a Secret Santa. This is the low-cost tradition where everyone buys only one gift for one recipient who is chosen using an online tool. Gifts are then given anonymously. <h2>Festive food</h2> Festive food spending is projected to be <a href="https://www.roymorgan.com/findings/9736-ara-roy-morgan-media-release-christmas-spending-2024">$28 billion, up 4.2%</a>, this year, contributing to the overall increase in expected total Christmas spending. To save on food expenses, asks guests to bring a dish to share. Or celebrate Christmas with an economical picnic or BBQ, weather permitting. Get creative with food leftovers to make meals and reduce the amount of food waste, while stretching your wallet further once Christmas has come and gone. <h2>Managing costs, avoiding debt</h2> Sticking to your Christmas budget can feel rewarding. If you do overspend, reflect on why, and adjust your plan. If needed, explore debt options, like credit cards or personal loans, but only as a last resort. Thoughtful planning will help you manage your costs, while enjoying the festive season. After all, the true spirit of Christmas is about creating memories and enjoying time with loved ones, not about overspending.<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/244300/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/angelique-nadia-sweetman-mcinnes-1361909">Angelique Nadia Sweetman McInnes</a>, Academic in Financial Planning, <a href="https://theconversation.com/institutions/cquniversity-australia-2140">CQUniversity Australia</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/track-your-spending-use-cash-and-diy-gifts-how-to-keep-your-costs-down-this-christmas-244300">original article</a>. </div>

Money & Banking

Italian village offers $1 homes to Americans upset by US election results

An Italian village in Sardinia, Italy is offering one-euro homes to Americans seeking a new start following the results of the 2024 U.S election that saw Donald Trump being re-elected as president. Ollolai has long been trying to persuade outsiders to move in to revive the community after decades of depopulation. Now, it's selling dilapidated houses for as little as one euro — just over a US dollar or $AU1.60 — to entice Americans to move abroad. Following the November 5 outcome, they have launched a website aimed at potential American expats, offering cheap homes in hopes that those disappointed by the result and seeking a fresh start will snap up one of their empty properties. "Are you worned (sic) out by global politics? Looking to embrace a more balanced lifestyle while securing new opportunities?" the website read. "It's time to start building your European escape in the stunning paradise of Sardinia." Mayor Francesco Columbu told CNN that the website was specifically created to attract American voters in the wake of the presidential elections. The mayor loves the United States and is convinced Americans would be the best people to revive the community. "We just really want, and will focus on, Americans above all," he said. "We can't of course ban people from other countries to apply, but Americans will have a fast-track procedure. We are betting on them to help us revive the village, they are our winning card." The village is offering three tiers of accommodation: Free temporary homes to certain digital nomads, ($1.6) homes in need of renovations, and ready-to-occupy houses for prices up to $160,000. The mayor also set up a special team to guide interested buyers through every step of the process including finding contractors, builders and navigating required paperwork. "Of course, we can't specifically mention the name of one US president who just got elected, but we all know that he's the one from whom many Americans want to get away from now and leave the country," Columbo added. "We have specifically created this website now to meet US post-elections relocation needs. The first edition of our digital nomad scheme which launched last year was already solely for Americans." Photos and plans of available empty properties will soon be uploaded to the website. The website has since received nearly 38,000 requests for information on houses, with most of them coming from the United States In the past century, Ollolai's population has shrunk from 2,250 to 1,300 with only a handful of babies born each year. Over the last few years, this has dropped 1,150 residents. Image: Shutterstock

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Track your spending, use cash and DIY gifts: how to keep your costs down this Christmas

Italian village offers $1 homes to Americans upset by US election results

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