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Black Friday sales are on again. To score a genuine bargain, it helps to go in with a plan

<div class="theconversation-article-body"><a href="https://theconversation.com/profiles/park-thaichon-175182">Park Thaichon</a>, <a href="https://theconversation.com/institutions/university-of-southern-queensland-1069">University of Southern Queensland</a> and <a href="https://theconversation.com/profiles/sara-quach-175976">Sara Quach</a>, <a href="https://theconversation.com/institutions/griffith-university-828">Griffith University</a> November 29th was Black Friday, the official beginning of one of the biggest sales events of the year. With so many consumers still feeling the cost-of-living pinch, it’s expected to once again bring bargain hunters out in droves. While some sales have already started, market research company Roy Morgan <a href="https://www.roymorgan.com/findings/black-friday-sales-a-winner-this-christmas-as-cost-of-living-continues-to-bite">estimates</a> Australian shoppers will spend a record $6.7 billion over the four-day shopping window. That’s up more than 5% on last year. For Australians, it’s one of three big annual sales events. The others take place at the <a href="https://theconversation.com/what-you-should-know-before-you-start-chasing-bargains-at-the-eofy-sales-232568">end of each financial year (EOFY)</a> and on <a href="https://theconversation.com/how-boxing-day-evolved-from-giving-christmas-leftovers-to-servants-to-a-retail-frenzy-219507">Boxing Day</a>. Despite being a recent entrant to Australia, Black Friday has quickly become one of the most important shopping days of the year. For consumers, navigating these sales and dodging the marketing tricks played by retailers is no mean feat. Here’s what you should know. <h2>What exactly is Black Friday?</h2> Black Friday as a major sales event originated in the United States. It falls on the day after Thanksgiving, which is celebrated on the fourth Thursday of November each year. A four day sales window then typically runs over the weekend after Thanksgiving, including “Cyber Monday” – a similar event that was set up more recently to encourage online shopping. But as you might have noticed, this official start date doesn’t prevent retailers from discounting products earlier, something many do. Australians don’t officially celebrate Thanksgiving. Nonetheless, the sales event has gained significant traction here over the past decade or so. This was initially driven by big US companies operating here, such as Apple and Amazon. But it was soon adopted and ultimately embraced by Australia’s own big retailers. Some Australian retailers now say Black Friday has already <a href="https://www.smh.com.au/business/consumer-affairs/bigger-than-boxing-day-the-rise-and-rise-of-black-friday-sales-20231117-p5ekwo.html">overtaken Boxing Day</a> to become their most important sales event, a standing it could well cement further this year. It’s been a <a href="https://www.forbes.com/sites/jonbird1/2023/11/20/le-black-friday-how-an-american-tradition-spread-round-the-world/">similar story</a> across much of the world. Countries including Canada, Brazil, France and the UK all now mark the occasion with their own big sales events. <h2>How do big sales work?</h2> Black Friday and other big sales events are designed to create a sense of urgency. They lean heavily into the phenomenon known as <a href="https://onlinelibrary.wiley.com/doi/abs/10.1002/cb.1885">fear of missing out</a> – called FOMO for short. Retailers know that shoppers feel the pressure to buy when they think they might miss out. This is called <a href="https://www.emerald.com/insight/content/doi/10.1108/jfmm-03-2023-0082/full/html">scarcity marketing</a>. Retailers have ways of creating artificial scarcity, which can pressure us to make purchase decisions that aren’t in our best interests. You’ve probably seen phrases in stores and online such as “only two left!” or “today only”. These tactics are designed to make you act. The extent of savings can also depend on retailers’ dynamic pricing tactics. Many businesses use algorithms to adjust discounts in real time based on customer demand, inventory levels and competitor trends. Popular items may start with small discounts, while less popular products get larger price cuts to attract interest. <h2>How to be a savvy shopper</h2> With these factors in mind, there are a few strategies that can help you you keep a clear head. One tactic is to create a shopping list and understand the importance of sticking to predetermined purchase decisions and a predetermined budget. Prioritise needs over impulsive wants. For example, if you need to replace an old keyboard amid a big sale, set a budget before you start looking, and try to avoid buying an entirely new computer just because it’s discounted in-store. Shoppers should prepare for fluctuating prices, while being cautious of tactics such as artificially inflated “fake” discounts, where original prices are exaggerated to make savings seem more appealing. Our previous <a href="https://www.emerald.com/insight/content/doi/10.1108/apjml-07-2021-0475/full/html?casa_token=A3V3IU0s1GkAAAAA%3A84uQk1cv03fh5C6gJrIeOuLPrztKhU4gacoPupelIWtOBZCnqSbmFKz4OjBaL60790I-O011Itd9C63vCGJ_hDSJFuVeiwe3YaiSftT6nUzpzxDYHYkdGQ">research</a> has shown price promotion can trigger customer emotions such as surprise and lead to anticipated regret, influencing their purchase decisions. <h2>Go in with a plan</h2> Another tactic is to do some window shopping in the days or weeks beforehand. This allows you to check and research the products you’re interested in. Note down their non-sale prices for future reference. Create a list of where to buy, along with a few alternatives. For shoes and clothing, try things on if you can and note down your size. That can help you act quickly once the sales go live. And in the excitement of all the sales, don’t forget: if you don’t actually want or need anything, there’s always the option of not shopping at all.<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/244509/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/park-thaichon-175182">Park Thaichon</a>, Associate Professor of Marketing, <a href="https://theconversation.com/institutions/university-of-southern-queensland-1069">University of Southern Queensland</a> and <a href="https://theconversation.com/profiles/sara-quach-175976">Sara Quach</a>, Senior Lecturer in Marketing, <a href="https://theconversation.com/institutions/griffith-university-828">Griffith 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/black-friday-sales-are-on-again-to-score-a-genuine-bargain-it-helps-to-go-in-with-a-plan-244509">original article</a>. </div>

Money & Banking

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

<div class="theconversation-article-body"><a href="https://theconversation.com/profiles/joonhyuk-yang-1548700">Joonhyuk Yang</a>, <a href="https://theconversation.com/institutions/university-of-notre-dame-990">University of Notre Dame</a> and <a href="https://theconversation.com/profiles/jung-youn-lee-1548702">Jung Youn Lee</a>, <a href="https://theconversation.com/institutions/jones-graduate-school-of-business-at-rice-university-5411">Jones Graduate School of Business at Rice University</a> How you shop and what you buy at the grocery store can predict whether you pay your credit card bills on time, <a href="https://doi.org/10.1287/mnsc.2022.02364">our new research shows</a>. As <a href="https://mendoza.nd.edu/mendoza-directory/profile/joonhyuk-yang/">marketing</a> <a href="https://business.rice.edu/person/jung-youn-lee">professors</a>, we wanted to learn about alternatives to traditional credit scores. So we teamed up with a multinational conglomerate that, among other things, runs a large supermarket chain and a credit card issuer. By analyzing consumer-level data from those two business units, we were able to see how 30,089 individuals shop and manage their finances. We found that people with more consistent grocery shopping habits are more likely to pay their credit card bills on time. These are people who tend to shop on the same day of the week, spend about the same amount each month, buy similar items across trips and take advantage of deals regularly. We also found that what people buy predicts how they manage their finances. For example, shoppers who frequently purchase cigarettes or energy drinks are more likely to miss credit card payments. Those who often buy fresh milk or salad dressing tend to be more diligent about paying their bills. In general, buying healthier but less convenient food predicted responsible payment behaviors. This was true even when we held consumer characteristics such as income, occupation, credit score and family size constant. Building on those findings, we developed a credit scoring algorithm that scores people based on their grocery shopping habits along with traditional credit risk indicators. When we simulated approval decisions with this algorithm, we found that using grocery data could help lenders predict defaults more accurately while boosting their per-customer profits. <h2>Why it matters</h2> According to the World Bank, <a href="https://www.worldbank.org/en/publication/globalfindex">more than 1 billion people</a> worldwide lack access to formal financial systems and, as a result, have no credit scores. In the U.S. alone, <a href="https://www.consumerfinance.gov/data-research/research-reports/who-are-credit-invisibles/">about 45 million adults</a> have no credit history or not enough of one to generate a score. This makes it hard for them to access credit, even if they are responsible borrowers. And without credit, it’s harder to get a car, a job or even a place to live. It’s a problem that disproportionately affects <a href="https://www.worldbank.org/en/publication/globalfindex">underprivileged groups</a>, including people of color and women. In response, policymakers and researchers are increasingly interested in using alternative data sources to assess creditworthiness. For instance, <a href="https://www.cnbc.com/2024/07/17/how-on-time-rent-payments-help-credit-invisible-consumers.html">Fannie Mae now considers</a> mortgage applicants’ rent payment histories, allowing those without traditional credit histories to demonstrate their creditworthiness. Grocery data is especially promising because there’s so much of it. Pretty much everybody buys groceries, and not just once. Information about consumer preferences is continuously being generated in every aisle of grocery stores around the globe. Our study shows that this data has value far beyond the grocery industry. <h2>What’s next</h2> We believe that our study serves as a proof of concept, offering insights for the design and implementation of future research. However, several key questions remain. For example, what if this approach affects different groups unequally? And what about privacy concerns? Our follow-up research aims to address these issues. We’re collaborating with a conglomerate in Peru, a cash-reliant country with a significant unbanked population. Building upon our current findings, we’re working closely with that company to test the impact of our approach on low-income populations. We’ll be helping to evaluate credit applicants using retail transaction data, aiming not just to improve profitability but also to boost social inclusion in the region. The <a href="https://theconversation.com/us/topics/research-brief-83231">Research Brief</a> is a short take on interesting academic work.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/234887/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/joonhyuk-yang-1548700">Joonhyuk Yang</a>, Assistant Professor of Marketing, Mendoza College of Business, <a href="https://theconversation.com/institutions/university-of-notre-dame-990">University of Notre Dame</a> and <a href="https://theconversation.com/profiles/jung-youn-lee-1548702">Jung Youn Lee</a>, Assistant Professor of Marketing, <a href="https://theconversation.com/institutions/jones-graduate-school-of-business-at-rice-university-5411">Jones Graduate School of Business at Rice University</a> Image credits: Shutterstock This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/no-credit-score-a-grocery-list-could-be-the-next-best-thing-234887">original article</a>. </div>

Money & Banking

"What a score": Woman finds rare gems in Vinnie's op shop

One lucky thrift shopper has stumbled upon a rare find in her local charity shop, spotting stunning opal earrings on sale for just $2. The shopper took to Facebook to share her find, posting a photo of the gold earrings adorned with a series of blue opals that she got from a Vinnie's op-shop in Queensland. Many were quick to agree that they were "such a rare find" because of the low price, as admirers described the jewellery as "Pretty", "amazing" and "beautiful". "Holy moly," one person exclaimed. "I can't breathe," one other said. "What a score," another agreed. While some people were skeptical that the gems weren't real, others said, "There's no way someone would set that many beautiful opals into costume jewellery so I'd say you have found a unicorn there." "They most certainly look genuine opal and diamond," another agreed — and so do the experts. Sebastian Heffernan from Lightning Ridge Opal mines told <a href="https://au.news.yahoo.com/womans-rare-2-find-at-vinnies-op-shop-worth-1000-absolute-steal-042951545.html" target="_blank" rel="noopener">Yahoo News</a> that while it's difficult to determine based on photos alone, the opals "don't appear to be fake". "It's normally pretty obvious when they are," he explained. "They would look a little bit too perfect a lot of the time. Whereas these ones, you can see that some of them have little dots of colour, some have medium flashes." Assuming the opals are real but the diamonds are fake and the gold is plated, rather than solid, Sebastian guessed the earrings could sell for just couple of hundred. However, Wayne Sedawie, who owns Opal and Gem Stone Auctions, reckons the lucky thrifter could fetch close to $1,000 for the earrings, if resold or cashed in to a reseller, and suggested she get them valued. "It's definitely good to maybe get them looked at by someone in person because they do look quite nice from the photo, and the metal itself could be worth a little bit if it is actual gold," Sebastian added. "But either way, two bucks is an absolute steal". "That's such a great find. They're beautiful," Wayne agreed. "Just clean them up and they'll last a thousand years." Image credits: Facebook

Money & Banking

Nine-year-old Aussie ballet prodigy scores full New York scholarship

A talented nine-year-old is heading to New York City, after scoring a full scholarship to a prestigious ballet school. Malcolm Doyle's dad Nick said he and his wife knew their son had a talent for dance from a young age, and could not be more proud of the international attention his dancing has garnered. "He's been doing really well here in Australia and since last year, there's been a bit of a focus from overseas," Nick told <a href="https://9now.nine.com.au/today/aussie-billy-elliot-nine-year-old-ballet-prodigy-scores-scholarship-to-prestigious-new-york-academy/4e3fdf08-3fb7-41a4-89df-eb6ee4b58095" target="_blank" rel="noopener">Today</a>. "He got brought in to do an audition for Chicago's A and A Ballet, who were doing a world broadcast for auditions and from there, we just started to get a bit of interest." "And then this year, we let him do the auditions for the Royal Ballet and he ended up in Hong Kong over Easter." From there, Nick said the American Ballet Theatre in New York got in contact and offered Malcolm a scholarship. Malcolm ultimately turned down the offer and signed with another NYC school, the Ellison Theatre, who offered the youngster a full ride. The family are currently saving up to buy flights over to the US to check out the school, with Nick saying they will do anything and everything to support their son's dream. "It's taking quite a bit of the funds out of my bank account, but the love he's got for dancing, you can't stop him and even if we wanted to, I mean we get home after he's had a full day of dance and he's still dancing around the house," Nick said. Malcolm's dad has a performing arts background and his mum is also a classically trained ballerina and teacher, so Nick said Malcolm was either going to inherit the genes or "end up having three left feet". "He went and saw a production by the Queensland Ballet on the weekend, which he had never seen before and he walked out with half the choreography memorised in his head and trying to reproduce it.," Nick said. After being dubbed "Australia's own Billy Elliot", the Today hosts asked Malcom what it is he loves so much about dancing. "It makes me feel really excited and it's so amazing for me, the feeling I get when I dance," Malcolm said. Image credits: Today

Music

Flight attendant reveals how to score a free upgrade

A flight attendant has shared her number one trick for securing an upgrade on your next plane journey. American flight attendant Cierra Mistt revealed the one question you should ask at check-in to score an upgrade to first class, with the hack working almost every time. Mistt started her now-viral video by saying her hack to get a free upgrade was top secret. “Let’s look at the big picture. Everyone is flying right now, and no one is more excited about that than commercial airlines,” she said. “The majority of airlines are overbooking every single flight they have.” “It comes from the last month of me trying to get home and not even being able to get on standby because every single flight has been oversold,” she said. “I am not talking about one or two seats. I am talking about 10-30 seats that have been oversold.” Mistt said this overselling of flights presents an opportunity to travellers. “If everyone does show up, including the extra passengers that were oversold their tickets, the airlines have no choice but to financially compensate,” she said. The flight attendant shared that airlines “normally start off with vouchers for $500 or something”. “Normally they say a voucher but you can ask for it in cash,” she said. “Depending on the flight and how desperate they are, they will go up to, like three, four, five thousand dollars.” “This is where the free upgrades come in.” Mistt said not only could you ask for a free upgrade in such circumstances, but you could “also ask for other incentives”. “For example, drinks, dinners, breakfast, even a hotel if you have to stay overnight until the next flight,” she said. “And, yes, you can also ask to be upgraded to first class.” Her video received more than a million views, with people praising the hack and sharing how it has worked for them. “I got upgraded to first class by doing this,” said one person. Image credits: TikTok / Getty Images

Travel Tips

The types of insurance that aren’t worth your while

While it’s important to make sure you’ve been covered, some forms of insurance aren’t really worth your while in the long run. We’ve taken a look at several types of insurance you shouldn’t really bother with, why they’re not worth your money and how you can find an alternative. Yes, it’s essential to make sure you’re covered, but at the same time you don’t need to waste any money. Extended warranties Many a salesperson has made a customer fork out that little bit extra for an “extended warranty” to go with a major electronic purchase. The thing is though, in many cases the period of time covered by the warranty is actually exactly the level you’re automatically entitled to under consumer law. Credit protection insurance While this type of insurance can be useful and a way to insure yourself against the possibility of something happening to your income as the result of an injury or a condition, credit protection insurance has tendency to be pretty expensive. A more cost effective way to ensure your payments to your credit card, personal loans or mortgages are fulfilled would be to take out a life insurance or total and permanent disability insurance policy through your individual superannuation fund. Funeral insurance Many people see this as a good way to ease the financial burden on their family that comes with their passing, but in reality funeral insurance is quite expensive and the premiums add up every year. A far better option is a prepaid funeral, funeral bonds life insurance or even a special savings account with money set aside. Just make sure you let your family know! ID theft insurance This is one of those types of insurance that isn’t really protecting your from becoming a victim, rather helping you deal with the costs once it’s already happened. And what’s more, you bank is usually willing to cover the costs of credit card fraud, which is one of the major problems to be associated with ID theft. Instead of spending money on a policy you can protect yourself from ID theft by simply keeping your personal documents safe, shredding documents such as bank account statements before throwing them away, and using antivirus software that is up to date. You can also check your credit file each year to make sure nobody’s using your identity for fake accounts. Image credits: Getty Images

Money & Banking

How to score yourself free onboard credit on your next cruise

Everybody loves to splurge on holidays especially when you’ve been given free credit! Here’s how to score yourself some free cash. Grab a deal With so many cruise lines now sailing out of Australia, they will all be competing hard for your business. You can book a great deal at any time of year and, alongside things like free upgrades or 50 per cent off for a second passenger, you’ll find onboard credit. Do your research and you could easily score yourself hundreds of dollars to spend onboard at no extra cost. Book through an agent Specialised cruise travel agents develop strong relationships with the lines and will be able to secure you the best price. As part of their offering, they can also throw in some free onboard credit. This could be with an individual shopfront agent or one of the larger online third parties, so look around for the best offers. And if you don’t see anything advertised directly, it never hurts to ask! Stay loyal to a line Most major cruise lines will have a dedicated loyalty scheme that operates sort of like a frequent flyer program. Cruise multiple times with the one line and they will reward you with special fares, upgrades and (you guessed it) onboard credit. Make sure you use your unique identification number every time you book so that you don’t miss out on any of your points. Book another cruise If you’re loving your cruise, take advantage of the onboard sales office and book another one right away. You’ll be able to take advantage of exclusive offers that you won’t find on land and many of these include onboard credit. The line will be eager to get you to sign up again before you can look at other ships, so it’s a chance for you to grab some big bonuses. Make the best of a bad situation When something goes wrong on a cruise (like a change of itinerary, missing a port or a fault with your cabin) the line will very often compensate you with onboard credit. We’re not saying you can create a problem to grab some cash, but if you have a legitimate problem then alert the crew as soon as possible and see if they can offer you some in exchange.

Cruising

"Buddy is the star": Jamie Oliver's son scores his own show

Buddy Oliver is a chip off the old block after landing his own cooking show for the BBC, according to reports. The 12-year-old has already made a name for himself with his YouTube channel Cooking Buddies, where he creates cooking tutorials with his famous dad, the iconic Jamie Oliver, in their family home. With an impressive fanbase of over 133,000 subscribers, Buddy's skills have been recognised and he is now reportedly set to appear on the small screen. "Buddy has taken all of his dad's experience on board and is about to put it into play with his own cookery show," a source told The Sun. The budding cook will reportedly be joined by other kids on the show, who will learn tips from him on how to get started on cooking. "Jamie's fans have long been asking for his son to have his own show for their kids to enjoy," the source added, claiming that Buddy will be the star of the show. "Buddy is the star of the show. Jamie is keen for his son to prove himself to telly audiences, not just live off the family name. "So Buddy's got to showcase his technical skills and presenting ability. But if his YouTube work is anything to go by, it'll be natural for him," the source said. Buddy is the second youngest of Jamie's children with his wife Jools. He has three older sisters Poppy, 21, Daisy Boo, 20, and Petal, 14, and a younger brother seven-year-old River Rocket. Image: YouTube

Food & Wine

Alan Joyce grilled over cancelled flights and Covid credits

Outgoing Qantas CEO Alan Joyce has faced a line of tough questioning after appearing in front of a Senate committee on Monday, who questioned his enormous salary in the face of the cost of living crisis. At the explosive public hearing of the select committee on the cost of living, which Joyce had to be summonsed to after repeatedly refusing to attend, the outgoing Qantas chief executive defended the record $2.47bn full-year profit he announced just days earlier. Senators were confused by the extraordinary profit, given Qantas has seen 12 months of soaring customer dissatisfaction and a looming class action lawsuit over the travel credits policy during the height of the pandemic, as well as facing accusations of anti-competitive behaviour, and historically high cancellation rates out of Sydney airport. Joyce defended the profits, saying Qantas had been caught up in a wave of “criticism of corporate profits” due to cost-of-living pressures. As well as the company's incredible profits, Joyce himself, who is walking away from the CEO role at the end of the year, is set to walk away with as much as $24 million in personal pay. Labor senator Tony Sheldon quizzed Joyce on if he feels "embarrassed" over his huge personal salary, given the airline’s soaring complaints and his decisions to restructure the airline to pay employees less. Joyce refused to answer the question, saying the senator was "making a whole series of points that are just incorrect.” Joyce was then grilled on the seemingly "strategic" cancellation of domestic flights, in which some senators, as well as airline competitors, had accused Qantas of booking in flights out of Sydney airport and then cancelling them last minute, to block other airlines from increasing their services. He again denied these claims, stating that Qantas’s cancellation rate on a national level (not out of Sydney specifically) were the lowest of the major carriers, and blamed the cancellations on “supply chain issues” and “air traffic control delays”. Finally, Joyce was confronted over his policy of not refunding travel credits that were issued when travellers' trips were cancelled during the height of the pandemic. In June, Qantas announced more than $500 million in Covid credits remained unclaimed and would expire by the end of the year. While refunds have been offered for some credits, not everyone was able to claim these, and a class action lawsuit is now claiming compensation for lost interest on the credits. At the Senate committee meeting, Jetstar chief executive, Steph Tully, said the number of unclaimed credits now lies at $370 million, however this figure did not reflect Jetstar or overseas customers’ credits. “Around $100m” in Jetstar credits remain unclaimed, on top of Qantas’s $370m, Tully said. Senator Sheldon then slammed Tully for "not being transparent” before asking “what’s stopping you from refunding the money”. Tully replied “lots of reasons”, citing codeshare flights and “half-taken trips”. Image credits: Getty Images

Money & Banking

Outrage after renters confronted with cleaning “scoring system”

An Australian real estate agent has come under fire for their “demoralising” scoring system for tenants during routine inspections. One fired up renter said they were shocked to receive a scorecard from the agent after they complied with an inspection, and shared their feedback on Reddit. The scorecard rated the tenant’s efforts cleaning the property in 17 different rooms and areas, marking them on cleanliness, and if the areas were damaged or required maintenance. The renter was then also given an overall rating out of five stars, based on the upkeep of their rental home. The Reddit user showed that they received just three and half stars, despite being marked down in only one area due to a light globe not working. In their post, the tenant said they had made every effort to clean the home, adding that the rating was “demoralising”. “I’ve been renting a long time, and my deep cleaning routine is based around inspections,” they explained. “I go all out - every room in my little 3x2 villa is given a spring clean, every surface is washed including walls, doors, lights, windows, carpets etc.” “Had my latest inspection a few weeks ago and just received the report. Despite the agent commenting once again that she never sees houses as clean as mine, and taking 112 (!) photos of every single thing that shows how great the condition of the house is - having one light globe not working is so terrible that I’m scored three and a half out of five.” The renter went on to say that they had only recently discovered that the broken light globe was the real estate’s responsibility to replace, and does not warrant such a severe marking down in their “score”. “The globe in question is a downlight fitting. We have so many downlights that I don’t even use this particular one,” they continued. “I can’t replace the globe itself, I need to get into the roof to replace the whole unit. Thanks to people here I’ve learned this isn’t even my responsibility to fix!” The renter’s post sparked a huge outrage online, with many up in arms over the current state of the rental market and unrealistic expectations of estate agents. One person said, “I fully believe that the average renter keeps a home to a higher standard than an owner, and it seems deliberately demoralising that someone could be marked down for having a light out.” Another added, “This is ridiculously petty, and more importantly, totally irrelevant to the purpose of a periodic inspection. Which is to identify whether any maintenance is needed.” A third person took their anger out on the entire system, summing it up by writing, “I sort of wonder what little lightbulb clicks in your mind and you wake up one day and ask yourself, ‘How can I be a massive c*** who offers no value to society? I know! I will get into real estate.’” Image credits: Getty Images / Reddit

Real Estate

"I did it”: 59-year-old grandma finally scores dream Qantas job

A 59-year-old grandmother has gotten her big gig with Qantas after dreaming of being a flight attendant for about 40 years. Jackie Cookson is one of the airline’s latest recruits, having graduated on May 29, with her first flight scheduled for June 3. Cookson can now add flight attendant to her versatile resume, with her previously working as a travel agent, a receptionist on an oncology ward and a newspaper sales rep. The 59-year-old, who calls herself “crazy nana” has shared her journey on TikTok since her first interview with Qantas, through all the assessments and training and to her upcoming graduation. In January 2023, she posted her first video ahead of her first in-person interview with Qantas, which attracted more than half a million views, saying people might think she was crazy to apply given her age, but she was finally following her dreams. The grandmother-of-two revealed she had an interview at another airline when she was 20 years old but never went as she ended up getting married. “In my eyes then if you were married you couldn’t be cabin crew. How bloody stupid was that,” she said. She got the job and relocated from Perth to Sydney for her training. “Crazy nana is going to be a cabin crew, watch out!” she told her followers. Four months on saw Cookson standing proudly in her Qantas uniform, with her certificate in hand. “Can you believe it? Crazy nana’s gone and bloody done it, hasn’t she? I’ve passed, today I’ve graduated. I did it,” an elated Cookson said. “If I can do it, anyone else can do it. Follow your dreams. Don’t give up. Don’t be thinking ‘I’m too old’ or this or that. Look at me, I’ve got my wings.” Cookson, who is originally from England but has been living in Australia for about 30 years, told news.com.au that the older she got, the more she thought she may have missed her chance. “After Covid I took a year off and travelled the world, went back to see my 91-year-old dad in Yorkshire, and I applied while I was on holiday,” she said. “I haven’t studied for a long time, so it’s definitely been a challenge, but I put everything I’ve got into it and I’m thrilled to have gotten my wings. “I fly on my first flight to LA on Saturday. I’m nervous, like any first day on the job, but I know I’ll settle into it, but I’m mostly just really excited. I love people and I’m looking forward to working with our customers.” Image credit: TikTok

International Travel

Common credit card mistakes to avoid

If you regularly use your credit card, you’ll know how easy it is to plonk down the plastic for your shopping and other purchases. It’s also easy to forget those pesky card payments that follow. Along with the convenience of credit cards comes the danger that your bills can quickly snowball into a major debt that can linger for years if not managed properly. It pays to be aware of the pitfalls of credit cards and ensure you’ve got good habits in place to avoid them as much as possible. The following are a few suggestions: Shop around for the best card deals Don't make the mistake of signing up for the first credit card offer that arrives in your mailbox. Go online and look for the best possible card terms and features to suit you. Credit card rates can vary significantly, depending on the card and type of promotion offered. Rewards programs Following on from the point above, make sure the card you choose provides features you genuinely need and will actively use. Credit card rewards are promoted to make consumers think they’re getting something for free. But when you add up what it costs to earn rewards, a rewards program may not be much of a perk. For instance, credit cards that offer rewards often have much higher interest rates than cards with no rewards. Keep track of your spending While using a credit card sometimes feels like you’re not really spending money, not keeping track of your spending can wreak havoc on your finances. Carry a small notebook or if you’re more tech savvy, use one of the many apps available on your phone to record your purchases so you won't get a nasty shock when you receive your monthly statement. Make sure you check your statements regularly too. Late and minimum payments Credit card payments that aren’t paid on time result in late fees and higher interest rates. Read through your credit card statement carefully so you know when the payment is due. Consider auto-payment facilities or put a recurring note in your calendar each month a few days in advance of your payment due date to ensure you don’t miss it. Most card statements list the date that payments must be received by to avoid penalty interest fees. Ideally, it’s best to pay the full amount every month. Only paying the minimum amount will make the situation worse over time by attracting cumulative interest payment penalties. Using cash advances While they’re a tempting option, cash advances attract higher interest rates and should be used with care. Handle with care! Credit cards can be useful financial tools when used responsibly. Getting into good habits can ensure you take full advantage of the benefits while avoiding the traps. Image credit: Shutterstock

Money & Banking

Dad’s horror at six-year-old’s massive bill

A young boy from Michigan has learned a tasty lesson in money management. Six-year-old Mason Stonehouse had been playing on his dad’s phone when he discovered his soon-to-be favourite app - food delivery service Grubhub. After putting his son to bed, Mason’s father Keith was shocked to find delivery drivers began to frequent their doorstep, one after the other leaving something behind. Keith likened the strange evening to a Saturday Night Live skit, and in doorbell camera footage he could be heard asking one of the drivers “what the hell is going on?” A look at his phone confirmed that Mason had pulled off a parent’s nightmare - the boy had ordered almost $2,000 (AUD) of food from restaurants all across their town. Speaking with TODAY.com, Keith explained that the two were having father and son time in front of the TV when Mason asked to use Keith’s phone. Mason often uses his dad’s phone to play educational games, so Keith thought nothing of it, allowing Mason 30 minutes with the device. Keith recalled how Mason made his way downstairs to play, and went to bed without a fuss when his half hour was up. “A 6-year-old going to bed is not normally an easy thing but he was surprisingly really good,” he said. “There was no fight, no ‘I’m hungry’, or making up stuff to stay up. He just went to bed, and I was like, ‘Wow, this is amazing, I wish Mom was here to witness this’. And all of a sudden I hear the doorbell.” To various news outlets, Keith has mentioned how it was “car after car” that kept “coming and coming” to the family’s home in Chesterfield Township. In his own Facebook post about the incident, he shared Mason’s shopping list, telling his friends “if you’re hungry and you’re in the mood for 5 orders of jumbo shrimp, salad, grape leaves, rice, 3 hanis, several orders of chilli cheese fries, chicken shawarma sandwiches, and plenty of Ice cream - swing on by SMH.” Keith saw Mason’s delectable adventure to an end when his bank declined an order of $635 (AUD) for pepperoni pizza. As he told Good Morning America, this “would’ve been on top of the $1,000 worth of food that was piling in my kitchen.” This wasn’t even Mason’s first order of the evening from the same establishment - Happy’s Pizza for a happy Mason - with a sizable jumbo shrimp delivery already having made it to their doorstep. MLive.com heard from Keith that he tried to speak to Mason about what had happened, but soon discovered that their priorities weren’t exactly aligned, “I was trying to explain to him that this wasn’t good and he puts his hand up and stops me and says, ‘Dad, did the pepperoni pizzas come yet?’” “I had to walk out of the room. I didn’t know if I should get mad or laugh,” he admitted. Whether the entire situation prompted more amusement or exasperation from the Stonehouses, they assured everyone that none of Mason’s bouncy went to waste, with the food going to their neighbours, and their phones well away from Mason’s sneaky shopping. Images: Facebook

Money & Banking

Karl Stefanovic scores huge real estate win

Karl Stefanovic and his wife Jasmine have earned themselves a tidy profit in record time after their home on Sydney’s north shore was leased just five days after going up for rent. Their home in Castlecrag was snapped up at a hefty $1850 a week, nearly a third more than the median rent of $1400 for the area. The rental price isn’t the only above-average feat the home has achieved, having been leased five days after listing, with Castlecrag properties sitting on the market for an average of 32 days, per <a href="https://www.realestate.com.au/news/boofhead-karl-stefanovics-big-real-estate-win/" target="_blank" rel="noopener">realestate.com.au</a>. After <a href="https://www.oversixty.com.au/property/real-estate/sneak-peek-inside-karl-stefanovic-s-new-suburban-oasis">purchasing the three-bedroom home</a> in March last year, the Stefanovics were quick to put it on the rental market <a href="https://www.oversixty.com.au/property/real-estate/how-you-can-rent-karl-stefanovic-s-glam-sydney-home">in September</a> for a similar price of $1800 a week. It comes as the Today show presenter has been in the spotlight recently, with the news his co-host Ally Langdon would be moving on <a href="https://www.oversixty.com.au/news/news/it-s-daunting-a-current-affair-and-today-show-hosts-finally-confirmed">to host A Current Affair</a> and former ACA host Tracey Grimshaw describing him as having a “big boofhead”. Following rumours that <a href="https://www.oversixty.com.au/entertainment/tv/i-just-got-brushed-ally-langdon-responds-to-greatest-snub-in-australian-television">Grimshaw brushed off Langdon</a> during a farewell on her final ACA episode, the 62-year-old sent a hilarious text to her replacement the following day to address the rumours - and take a jab at Stefanovic. "I'm sorry I missed you," Tracy texted, per <a href="https://9now.nine.com.au/today/tracy-grimshaw-ally-langdon-a-current-affair-farewell/e0074648-5b75-4533-a398-afe4463f1610" target="_blank" rel="noopener">Today</a>. "I was so overwhelmed and obviously didn't see your petite head once Karl's big boofhead loomed into vision. Argh, big sorry." With Langdon departing Today at the end of this year, Stefanovic will continue to host the breakfast show next year with 60 Minutes reporter Sarah Abo. Images: realestate.com.au

Real Estate

High score: Video game play linked to better cognitive performance

Children playing video games for more than three hours a day score better on cognitive performance compared to non-gamers. A study involving more than 1,800 children aged nine and ten by researchers at the University of Vermont in the United States, is believed to be the largest investigation looking at the association between <a href="https://cosmosmagazine.com/people/good-games/" target="_blank" rel="noreferrer noopener">video games</a>, cognition and brain function. The researchers found children who played more than 21 hours of video games per week recorded better scores for <a href="https://cosmosmagazine.com/technology/can-games-tell-if-you-are-impulsive/" target="_blank" rel="noreferrer noopener">response inhibition</a> and working memory than those who never played. The article is <a href="https://jamanetwork.com/journals/jamanetworkopen/fullarticle/2797596?utm_source=For_The_Media&utm_medium=referral&utm_campaign=ftm_links&utm_term=102422" target="_blank" rel="noreferrer noopener">published</a> in JAMA Network Open. Lead author Dr Bader Chaarani told Cosmos, “it makes sense that if you consider the brain is like a muscle, the more you train it, the better it performs.” Impulse control is considered important as it is linked to substance use in adolescence, while working memory is connected to IQ and language processing, Chaarani says. In the study, the children performed two tasks inside an MRI scanner. The first was a ‘stop signal task’ measuring impulse control. The task required children to press a button when arrows pointed left or right, but not press anything when the arrows point up. The second, a working memory task showed children pictures of faces and tested their recall. Children were also tested outside the scanner using oral and verbal tasks. In contrast to the findings of other research, the study did not find any significant difference between gamers and non-gamers in terms of mental health or behaviour. <div class="newsletter-box"> <div id="wpcf7-f6-p220302-o1" class="wpcf7" dir="ltr" lang="en-US" role="form"> <form class="wpcf7-form mailchimp-ext-0.5.62 spai-bg-prepared init" action="/technology/high-score-video-game-play-linked-to-better-cognitive-performance/#wpcf7-f6-p220302-o1" method="post" novalidate="novalidate" data-status="init"> <input class="wpcf7-form-control wpcf7-text referer-page" name="referer-page" type="hidden" value="https://cosmosmagazine.com/technology/" data-value="https://cosmosmagazine.com/technology/" aria-invalid="false" /> </form> </div> </div> Chaarani says, “many parents today are concerned about the effects of video games on their children’s health and development, and as these games continue to proliferate among young people, it is crucial that we better understand both the positive and negative impact that such games may have.” In Australia, 78% of children and teenagers play video games, averaging 106 minutes per day, according to <a href="https://igea.net/wp-content/uploads/2021/10/DA22-Report-FINAL-19-10-21.pdf" target="_blank" rel="noreferrer noopener">research commissioned</a> by the Interactive Games and Entertainment Association. In the University of Vermont study, non-video gamers (who spent zero hours a week playing games) and gamers (who played more than 21 hours a week) were recruited from a mix of 21 public, private and charter schools across the United States. The two groups did not differ in terms of characteristics such as age, BMI or IQ. However, the gamers group had a higher share of boys, and lower parental income on average. The research forms part of the <a href="https://abcdstudy.org" target="_blank" rel="noreferrer noopener">Adolescent Brain Cognitive Development Study</a>, the largest long-term study of brain development and child health in the United States. This allows children to be tracked over time into early adulthood to see if changes in video gaming behaviour are linked to changes in cognitive skills, brain activity, behaviour, and mental health. While the results showed an association between playing video games and higher cognitive performance, the paper notes it does not evidence for causality. This will be the focus of further research, given the Adolescent Brain Cognitive Development Study follows children every two years. Chaarani says they also plan to look at the effect of video game genre in future work. The current study did not differentiate by the type of video games children played, whether puzzle games, action adventure, sports, simulation or shooters; or single versus multi-player games. “There are some smaller studies reporting that different types of games may engage different areas in the brain, different functions of the brain… but because of the sample size we cannot trust them enough,” he says. “For the nine and ten years old, we’ve been looking at surveys done internationally. So, these kids tend to play more fast-paced games like action, adventure and shooters that give you immediate reward rather than slow paced games.”  <img id="cosmos-post-tracker" style="opacity: 0; height: 1px!important; width: 1px!important; border: 0!important; position: absolute!important; z-index: -1!important;" src="https://syndication.cosmosmagazine.com/?id=220302&title=High+score%3A+Video+game+play+linked+to+better+cognitive+performance" width="1" height="1" />  <div id="contributors"> <a href="https://cosmosmagazine.com/technology/high-score-video-game-play-linked-to-better-cognitive-performance/" target="_blank" rel="noopener">This article</a> was originally published on Cosmos Magazine and was written by Petra Stock. Image: Getty Images </div>

Technology

What happens if I can’t pay my mortgage and what are my options?

With rising costs of living, including interest rate rises, many people are really worried about their mortgage. So, what actually happens if you can’t pay your mortgage – and what are your options? Here’s what you need to know. <figure class="align-center zoomable"><a href="https://images.theconversation.com/files/480028/original/file-20220819-26-vpnqeb.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=1000&fit=clip"><img src="https://images.theconversation.com/files/480028/original/file-20220819-26-vpnqeb.jpg?ixlib=rb-1.1.0&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/480028/original/file-20220819-26-vpnqeb.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=600&h=451&fit=crop&dpr=1 600w, https://images.theconversation.com/files/480028/original/file-20220819-26-vpnqeb.jpg?ixlib=rb-1.1.0&q=30&auto=format&w=600&h=451&fit=crop&dpr=2 1200w, https://images.theconversation.com/files/480028/original/file-20220819-26-vpnqeb.jpg?ixlib=rb-1.1.0&q=15&auto=format&w=600&h=451&fit=crop&dpr=3 1800w, https://images.theconversation.com/files/480028/original/file-20220819-26-vpnqeb.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=754&h=566&fit=crop&dpr=1 754w, https://images.theconversation.com/files/480028/original/file-20220819-26-vpnqeb.jpg?ixlib=rb-1.1.0&q=30&auto=format&w=754&h=566&fit=crop&dpr=2 1508w, https://images.theconversation.com/files/480028/original/file-20220819-26-vpnqeb.jpg?ixlib=rb-1.1.0&q=15&auto=format&w=754&h=566&fit=crop&dpr=3 2262w" alt="" /></a><figcaption>It’s not particularly rare for a borrower to face a period of temporary financial hardship. Photo by Tierra Mallorca on Unsplash, <a class="license" href="http://creativecommons.org/licenses/by/4.0/" target="_blank" rel="noopener">CC BY</a></figcaption></figure> Payment deferrals, payment plans or getting fees waived It’s not particularly rare for a borrower to face a period of temporary financial hardship, often due to circumstances beyond their control. <a href="https://www.rba.gov.au/publications/bulletin/2021/sep/the-financial-cost-of-job-loss-in-australia.html" target="_blank" rel="noopener">Job loss</a>, relationship breakdowns, natural disasters, injuries and illnesses all affect the capacity of householders to repay their loan, especially given mortgages tend to run over many years, if not decades. Banks have “hardship” processes to deal with borrowers who are temporarily unable to repay their loan. The <a href="https://www.ausbanking.org.au/" target="_blank" rel="noopener">Banking Code of Practice</a>, to which most banks subscribe, provides guidelines for lenders to help consumers through financial difficulties. One form of relief is a payment deferral or “holiday”. That’s where a customer is able to postpone repayments until the issue causing hardship is resolved. Many people used this option during COVID lockdowns. However, a payment holiday sometimes simply “kicks the can down the road” and the customer is still in financial trouble when their temporary payment holiday ends. Other options include payment plans. This is where you pay back less per month but the mortgage lasts longer overall. Or, the bank may simply offer advice on how to handle finances until you’re back on your feet. It is also possible for banks to waive discretionary fees (such as those related to overdue payments). Banks don’t really want you to default Banks typically do not want their customers to default on property. They’re usually protected against losses themselves through lender’s mortgage insurance, but banks see mortgage holders as particularly valuable customers. They have shown they can obtain finance and repay loans. Usually, it’s easier for the bank to make hardship arrangements with a customer - and build trust along the way - than it is to wind up a mortgage, seize the property and then have to deal with trying to sell it in a flagging market. <figure class="align-center zoomable"><a href="https://images.theconversation.com/files/480029/original/file-20220819-15-jlfc4b.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=1000&fit=clip"><img src="https://images.theconversation.com/files/480029/original/file-20220819-15-jlfc4b.jpg?ixlib=rb-1.1.0&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/480029/original/file-20220819-15-jlfc4b.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=600&h=400&fit=crop&dpr=1 600w, https://images.theconversation.com/files/480029/original/file-20220819-15-jlfc4b.jpg?ixlib=rb-1.1.0&q=30&auto=format&w=600&h=400&fit=crop&dpr=2 1200w, https://images.theconversation.com/files/480029/original/file-20220819-15-jlfc4b.jpg?ixlib=rb-1.1.0&q=15&auto=format&w=600&h=400&fit=crop&dpr=3 1800w, https://images.theconversation.com/files/480029/original/file-20220819-15-jlfc4b.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=754&h=503&fit=crop&dpr=1 754w, https://images.theconversation.com/files/480029/original/file-20220819-15-jlfc4b.jpg?ixlib=rb-1.1.0&q=30&auto=format&w=754&h=503&fit=crop&dpr=2 1508w, https://images.theconversation.com/files/480029/original/file-20220819-15-jlfc4b.jpg?ixlib=rb-1.1.0&q=15&auto=format&w=754&h=503&fit=crop&dpr=3 2262w" alt="" /></a><figcaption>Mortgagee-in-possession can lead to lower sale price. Photo by RODNAE Productions/Pexels, <a class="license" href="http://creativecommons.org/licenses/by/4.0/" target="_blank" rel="noopener">CC BY</a></figcaption></figure> What about my credit score? Recent <a href="https://www.creditsmart.org.au/financial-hardship/changes-to-credit-reporting-from-july-2022/" target="_blank" rel="noopener">changes</a> to the credit legislation make it easier to apply for a payment plan without affecting your credit score. From July 1, 2022, under the terms of a financial hardship arrangement, a customer’s credit report will show they have made on time repayments for the period of the arrangement – providing they have followed the terms of the hardship agreement. Credit reports will also indicate whether (but not why) a customer is in a financial hardship arrangement. This information stays on a credit report for one year, then disappears. Importantly, though, hardship information will be visible to other credit providers, and may affect a customer’s ability to get other loans during the period. I’m struggling. So what should I do? Contact your financial institution as early as you can. Your bank may be able to offer payment relief in the form of reduced payments or a holiday from repayments – or a combination of both. You usually need to provide evidence for the reason for financial hardship, and there’s an expectation you’ll be able to resume repayments when the temporary issue is resolved. Not every application for hardship will be successful, particularly if you have made promises to repay in the past and not followed through. <a href="https://moneysmart.gov.au/how-life-insurance-works/income-protection-insurance" target="_blank" rel="noopener">Income protection insurance</a> (for those who plan for uncertainties) may help prevent the need for hardship arrangements in the first place. If you see the issue as ongoing, rather than temporary, consider a different approach. If you’re ahead on your mortgage (as many Australians were during the pandemic), or you have significant equity in your house, consider refinancing. That’s where you take out a new mortgage to repay an existing loan. You may be able to get a lower monthly repayment, especially if you have built an equity stake greater than 30%. It won’t always be an option, especially if you are a recent borrower facing rising interest rates, stagnant or falling house prices, and have limited equity. <figure class="align-center zoomable"><a href="https://images.theconversation.com/files/480030/original/file-20220819-1146-svsca9.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=1000&fit=clip"><img src="https://images.theconversation.com/files/480030/original/file-20220819-1146-svsca9.jpg?ixlib=rb-1.1.0&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/480030/original/file-20220819-1146-svsca9.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=600&h=400&fit=crop&dpr=1 600w, https://images.theconversation.com/files/480030/original/file-20220819-1146-svsca9.jpg?ixlib=rb-1.1.0&q=30&auto=format&w=600&h=400&fit=crop&dpr=2 1200w, https://images.theconversation.com/files/480030/original/file-20220819-1146-svsca9.jpg?ixlib=rb-1.1.0&q=15&auto=format&w=600&h=400&fit=crop&dpr=3 1800w, https://images.theconversation.com/files/480030/original/file-20220819-1146-svsca9.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=754&h=503&fit=crop&dpr=1 754w, https://images.theconversation.com/files/480030/original/file-20220819-1146-svsca9.jpg?ixlib=rb-1.1.0&q=30&auto=format&w=754&h=503&fit=crop&dpr=2 1508w, https://images.theconversation.com/files/480030/original/file-20220819-1146-svsca9.jpg?ixlib=rb-1.1.0&q=15&auto=format&w=754&h=503&fit=crop&dpr=3 2262w" alt="" /></a><figcaption>A growing number of Australians are worried about their home loan. Photo by mentatdgt/Pexels, <a class="license" href="http://creativecommons.org/licenses/by/4.0/" target="_blank" rel="noopener">CC BY</a></figcaption></figure> In dire circumstances, you may be able to <a href="https://www.ato.gov.au/individuals/super/withdrawing-and-using-your-super/early-access-to-your-super/" target="_blank" rel="noopener">access your superannuation early</a> (which means you may have a lot less to retire on). If you really do need to sell, it is better to sell the property of your own volition, rather than having a forced sale. Mortgagee-in-possession (which is where the bank sells the house) can often lead to a lower sales price than a vendor-led campaign, and the time frame may not suit you. Free help is available. The <a href="https://www.arca.asn.au/" target="_blank" rel="noopener">Australian Retail Credit Association</a> provides information on how hardship processes are reported, while the <a href="https://financialrights.org.au/factsheets/mortgage-stress/" target="_blank" rel="noopener">Financial Rights Legal Centre</a> helps advocate for consumers through the mortgage stress process. The government’s <a href="https://moneysmart.gov.au/managing-debt/financial-hardship" target="_blank" rel="noopener">Moneysmart</a> site also provides information on how to navigate the hardship process.<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/188891/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/andrew-grant-442581" target="_blank" rel="noopener">Andrew Grant</a>, Senior Lecturer in Finance, <a href="https://theconversation.com/institutions/university-of-sydney-841" target="_blank" rel="noopener">University of Sydney</a> This article is republished from <a href="https://theconversation.com" target="_blank" rel="noopener">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/what-happens-if-i-cant-pay-my-mortgage-and-what-are-my-options-188891" target="_blank" rel="noopener">original article</a>. Image: Getty Images

Money & Banking

Kochie stunned at how George Lazenby scored 007 role

George Lazenby, Australia's first and only actor to play the iconic role of James Bond, has shared how he scored the role of 007. The 82-year-old actor is travelling around Australia, revealing secret 007 stories on stage, along with a concert performance featuring all the famous songs from the James Bond movies. During his tour, Lazenby stopped by the Sunrise studios to share how he joined the elite list of Bond actors that include Roger Moore, Pierce Brosnan, Sean Connery and Daniel Craig. Chatting with Nat Barr and Kochie, he said it's all about who you know. “I started off with a friend of mine who wanted to be an actor and he had a date with a casting director, and he said ‘you’ve got to help me out, my girlfriend has come back into town’,” Lazenby said. <blockquote class="twitter-tweet"> The only Aussie to ever play James Bond, George Lazenby, told Sunrise how the infamous Hollywood casting couch resulted in him landing the screen role of a lifetime playing super spy <a href="https://twitter.com/007?ref_src=twsrc%5Etfw">@007</a> <a href="https://t.co/hfqCrZbzWz">pic.twitter.com/hfqCrZbzWz</a> — Sunrise (@sunriseon7) <a href="https://twitter.com/sunriseon7/status/1564855509261242369?ref_src=twsrc%5Etfw">August 31, 2022</a></blockquote> “I went to meet the casting director, Maggie Abbott, who was the biggest agent in London at the time." “Then we went home, I won’t tell you what we did, but you can guess, and she was quite impressed.” “She had a casting couch?” Koch asked, stunned. “Uh, yes,” Lazenby replied. George was working as a model at the time, and said he had no intention of going into acting until Abbott tracked him down. Lazenby also admitted to turning down big money to continue on as Bond after his manager convinced him to follow Clint Eastwood’s path into westerns. The actor is <a href="https://concertworks.com.au" target="_blank" rel="noopener">touring Australia</a> performing songs made famous by the Bond franchise throughout September. He’ll be joined by SAS Australia contestant and Australia’s Got Talent winner Bonnie Anderson, and The Voice Australia’s Luke Kennedy. Image credits: Getty Images

Movies

Surprising differences in how we use credit cards and cash

With more credit cards used by Kiwis than ever is definitely seems as though New Zealanders are addicted to the convenience of not having to pay with cash. But what is the impact of this on New Zealand consumer behaviour? Since the late 1990’s researchers have been interested in understanding the psychology behind credit card use, not least because of the proliferation of debt in the consumer market and the concern of the ease with which to gains these cards (and debt) preys on vulnerable consumers. A 1998 study conducted by George Lowenstein and his colleagues that was published in 2001 made the finding that payments with cash elicited quite a different emotional response to payments made with credit cards or any other payment methods where the actual payment is to a certain extent “delayed”. The suggestion is paying by traditional methods with cash requires a physical transaction that can be more painful than paying for something with credit, where you see a figure on the receipt but you’re not actually handing over a physical amount of money in real life. In another experiment as part of the project, Mr Lowenstein observed that people were willing to pay much more for a particular event with credit cards than with cash, with the premium ranging anywhere between 60 and 113 per cent more, which represents quite a significant difference. Similar research has also found people are more likely to spend money when given $50 in cash rather than $50 in a gift voucher, they were more likely to spend a higher proportion of that in the latter rather than the former, which is again probably because of the lack of physical exchange. So what does this mean for you? Well, if you’re looking to tighten your purse strings around the house, opting to make more purchases with cash might just be the best way to do it. By making your purchase with cash you’re statistically likely to be less likely to overspend and more mindful of the items you are actually buying, which could lead to significant savings down the track. Willpower can be hard, especially when shopping, but this is an easier way to make willpower happen. Image: Getty Images

Money & Banking

Beauty and the Geek star sentenced

A former Beauty and the Geek star has avoided a jail sentence after admitting to stealing several credit cards from clients at bucks parties. Jordan Finlayson, 31, appeared at the Downing Centre Local Court via video link on Wednesday where she pleaded guilty to possession of identity information with the intention of committing fraud. Following an investigation, police found her in possession of several photos of credit cards and NSW drivers licenses of three men from bucks parties she was waitressing at between January 29 and February 2. She was arrested on February 17 where she remained in custody until Wednesday. According to court documents, guests at the bucks parties were told to keep their items in a separate room before heading to the event. Finlayson used the room to change and proceeded to take photos of three men’s credit cards and licenses, <a href="https://www.news.com.au/entertainment/tv/reality-tv/beauty-and-the-geek-star-jordan-finlayson-sentenced-for-credit-card-theft/news-story/3a954e8a70448f25c19ddf70357bbaba" target="_blank" rel="noopener">news.com.au</a> reported. A few weeks after the events, the men began to notice unusual transactions on their cards. One man was informed from Centrelink that he received the $750 in Covid disaster payments and could not lodge his tax return because someone with the same name already filled it in. Another victim saw several transactions for coffee and Uber rides around the city. The former NRL cheerleader initially pleaded not guilty but changed her plea when she found out she was going on trial. The court heard that she was already on parole when she was arrested and had breached her conditions. Her barrister Daniel Grippi asked the court not to give her more jail time and instead get treatment for her drug problem in a rehabilitation centre. Magistrate Alison Viney told the court that the crime Finlayson committed carries seven years’ prison. With that in mind, she sentenced Finlayson to a 12-month Community Corrections order telling her, “I sincerely hope that once admitted to a rehab program your path forward is a much more successful one”. Images: Instagram

Legal

Savvy shopper reveals how to score free groceries at Coles and Woolies

An Australian mum has shared her tips on snagging free groceries at the till. The woman from Sydney's north shore took to Facebook to reveal her secrets which managed to bag her a one kilogram tin of Milo and a roast chicken for free last week. “Is everyone aware of the Code of Scanning Practice 1984 at supermarkets?” she asked. “If the price on the shelf is lower than the price the item scans, you get it free." “Check your receipts before leaving [the] shop ladies. They have to refund [you] and give you [the] item." “I usually find two to three items every week!” The Scanning Code of Practice is a voluntary code that many supermarkets have signed up to, including Woolies, Coles, and some IGA and Aldi stores. Under the policy, if an item scans higher than what the shelf price says, the customer is entitled to receive the first item for free. Any subsequent item will be charged at the lower price. The code however, does exclude alcohol, tobacco and items without a barcode, while purchases disputed must be under $50. The policy is well detailed on Coles' website as part of its "promise on price scanning". <div> “If a single item scans at a higher price than the advertised or ticket shelf price for that item, we will give you that item free,” it says. Many people shared their experiences of utilising the policy on the Facebook post, while others shared times they have still been charged full price. “A lot of the time they think people don’t know this, and they will try to just change it to the shelf price,” someone said. “At the service desk, they have a Code of Scanning Practice brochure,” another wrote. “ If they try to argue, I whip it out of my purse.” “I never used to bother saying anything but got sick of getting ripped off at every shop,” someone else added. Image credits: Getty Images </div>

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