The big splurges are over, budgeting is up to the cost of living


CommBank offers $2700 savings on NBN, Aussies tighten on sweets and veggie boost could save $1844 a year. Here are five things you may have missed this week.

CommBank offers free NBN for three years

Commonwealth Bank offers homebuyers a chance to save $2,700 on internet costs

The bank has partnered with telco More to offer conditionally pre-approved home loan customers a free 36-month NBN plan – a savings of up to $2,700.

Existing CBA customers don’t miss out on this chance, with 30% off More NBN plans for the first 12 months when signing up with a CBA credit or debit card.

Dr Michael Baumann, Executive Managing Director of Home Buying at CBA, said: “We know that the rising cost of living is being felt by all Australians, especially those looking to buy property in Australia. current environment.

“We want to support pre-approved home loan customers where we can, and that includes longer-term savings on essential, ongoing bills and commitments like the internet.”

The treats are out, the budgeting is in

In these times of inflation, NAB research reveals how Australians are making their money work – and one of the first things to cut back on is non-essential spending.

NAB found that one in two of us are turning to cheaper brands, and 44% are skipping or cutting back on “micro” treats such as takeout coffees, snacks and lunches.

On the positive side, the study shows that nearly half of us (43%) have started using a budget and are tracking our spending better.

Rachel Slade, Director of Personal Banking at NAB Group, said: “We know that many Australian households are already feeling the pressure of the cost of living.

“This research reflects the conversations I’ve had with our clients – people are finding ways to make short-term changes and get their money under control.”

Going green can save you a lot

Three in five Australians have become more aware of their impact on the environment since COVID-19 according to Finder’s latest Green Consumer Report.

The study highlights how a number of green choices can save money. Reducing meat consumption, for example, could save $1,844 per year.

The big surprise is that Finder says switching to a high-performing ethical super fund could improve the situation for retired Australians by $292,000.

That’s a possible savings of around $6490 per year (not accounting for inflation), with a 4 tonne reduction in carbon emissions each year. The savings do not translate into more money today, but are based on a 45 year investment period. Despite the potential benefits, only 2% of Australians have gone green with their super.

Darwin, the least profitable city in Australia

CoreLogic’s latest Pain and Gain report, which examines property resales in the December 2021 quarter, shows not everyone made money on bricks and mortar last year despite gains at double digit property values ​​nationwide.

During the quarter, 96.2% of homes were sold for a profit, compared to 88.6% of units. Investors had a lower incidence of profitability (91.4%) than owner-occupiers sellers (96.7%).

For those who made a profit, the property turned out to be a nice little income. The median gain during the quarter was $319,000, far exceeding the median loss of $34,000 on resold properties.

Hobart won the title of capital with the highest incidence of sales-to-profit (98.3%) – a position the Tassie capital has held for 14 consecutive quarters.

Darwin was the least profitable city, with one in four properties (26.2%) resold at a loss. On the positive side, CoreLogic says the March 2022 quarter saw the Darwin market record “vast increases” in the rate of sales-to-profit.

It’s time to stash some super cash

If you’re thinking of making a personal contribution to the super this year, it’s time to crack.

Super regulator APRA says Australians have dramatically increased their personal super contributions during the pandemic.

In the year ending March 2022, personal super contributions totaled $34.9 billion, a jump of 61.7% from the previous year.

The beauty of making personal super contributions is that you can claim a tax deduction for contributions worth up to $27,500, although this figure includes employer contributions.

Best to get by if you plan to claim personal tax contribution in the current fiscal year.

Super funds typically run flat by June 30, and most funds require your contribution to be disbursed at least one week before June 30 to allow time for payment to be processed in the 2021/22 financial year .

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