Author name: 2 Ezi

Landlord incentives play an important role in attracting tenants, especially in competitive rental markets. From rent-free periods to property upgrades, these incentives can make a listing stand out. As rental trends shift in cities like Sydney and Melbourne, more landlords are offering perks to secure leases. But what do these incentives really mean for tenants, and how can they make the most of these offers? Landlord Incentives to Attract Tenants Landlord incentives are benefits provided to entice tenants into signing a lease. Common incentives include: These incentives can make a property more appealing, especially in competitive markets or areas with higher vacancy rates. Sydney and Melbourne Rental Prices Drop with Tenant Incentives Australian property portal PropTrack’s October 2024 report took note of downturns in Sydney and Melbourne properties, including which suburbs have properties with incentives attached.  Sydney The study noted that the eastern suburbs had median house rent prices going down 3.2 per cent overall. PropTrack figures showed some of the biggest rent falls over the October quarter were in Sydney’s eastern suburbs, where median rent on houses dropped 3.2 per cent over three months. The Southern Highlands and Shoalhaven saw median apartment rents decrease by 3.5 per cent, while Ryde experienced a 3.4 per cent drop. The North Shore saw a 2.5 per cent slip in rental prices. Some Sydney agents also caught wind of perks offered to tenants. One rental property in Kensington was listed at $894 per week, with the first four weeks rent-free. It was also the same for a certain three-bedroom apartment in Mascot, where tenants who booked a one-year lease will have the first month free. Other properties in Penrith, Cabramatta, Lidcombe, and Punchbowl, to name a few, had two weeks’ free rent offered. Melbourne  Melbourne properties may be expensive, but in some inner-city areas, median apartment rents declined by an average of 1.8 per cent. When you look at the properties, though, the incentives make the slight dip become more valuable. For example, Mirvac’s LIV Aston build-to-rent complex in North Wharf Docklands is offering new tenants two months’ free rent. The complex offers three-bedroom apartments with city views for a weekly rent of $1,570. When you consider two months without any rental obligations, that amounts to nearly $13,000. However, the offer is set to expire on 28 February 2025. Like those mentioned for Sydney, there were also properties to let in Melbourne that had two weeks’ free rent, in Mernda, Essendon, and the CBD. Tenant Guide to Landlord Incentives While landlord incentives can offer financial relief or added conveniences, let’s look at the situation from a tenant’s perspective. Tenants should assess the overall value and long-term implications. Lease Terms Ensure that the lease duration and conditions align with your personal and financial circumstances. Market Comparison Compare the incentivised property’s rent and features with similar properties in the area to determine genuine value. Future Rent Increases Be aware of potential rent hikes after the incentive period ends. Some tenants may get too complacent in the sense the landlord may assume an extension of the incentives when they have not stated anything at all, even in the rental contract! Property Condition Assess whether the property meets your standards and if any promised upgrades are completed before moving in. Tenant Responsibilities for Property Care Maintaining a rental property responsibly helps ensure a comfortable living space and a good relationship with the landlord. Below are key tenant responsibilities to keep in mind. Regular Cleaning Keep the property clean to prevent damage and maintain a healthy living environment. Prompt Reporting Inform the landlord or property manager of any maintenance issues promptly to prevent further deterioration. Respectful Use Use appliances and fixtures as intended to avoid unnecessary wear and tear. Gardening If applicable, maintain gardens and outdoor areas as specified in the lease agreement. Adhere to Lease Terms Follow all lease conditions, including policies on pets, smoking, and alterations to the property. By maintaining the property diligently, tenants can foster a positive relationship with landlords, which may be beneficial for lease renewals or securing favourable references in the future. Conclusion Landlord incentives can provide valuable benefits for tenants, from financial relief to added conveniences. However, it’s essential for renters to assess the true value of these offers by considering lease terms, potential rent increases, and property conditions. As rental markets in cities like Sydney and Melbourne evolve, incentives may continue to shape tenant decisions. By staying informed and making thoughtful choices, tenants can secure the best possible living arrangements while maintaining a positive relationship with their landlords. DISCLAIMER: This article is for informational purposes only. 2 Ezi has no relationships with any rental agents or industry portal. 2 Ezi cannot aid in any property rental negotiations and does not accept referral fees for any listing highlighted here. Please discuss rental plans with your agent and financial advisor.

Renting out a room can be a strategic move for first-time homeowners looking to ease financial pressures while making the most of their property. With rising living costs and evolving government policies, many new homeowners are exploring this option to offset mortgage payments, access tax benefits, and even contribute to local housing demand. However, before taking this step, it’s important to understand the financial, legal, and lifestyle implications. Here’s a closer look at why more first-time buyers are considering this approach and what it could mean for homeowners in Queensland. Why First-Time Homeowners Are Renting Out a Room Renting out a room in your first home can provide much-needed financial relief, particularly in today’s challenging housing market. The following is why many first-time homeowners are considering it. Offset Mortgage Payments Additional rental income can help offset your monthly mortgage repayments, giving you breathing room in your budget. Leverage Queensland’s Stamp Duty Concessions Newly-minted homeowners in Queensland are offered stamp duty discounts. Renting out a portion of your property, while maintaining it as your primary residence, could allow you to maximise the value of these concessions. Tax Benefits You might be eligible for certain tax deductions on property expenses, such as utilities and maintenance, proportional to the rented area. Ease into Property Investment Renting out a room can help you gain experience as a landlord without the complexities of managing a standalone rental property. Support Local Housing Needs With demand for affordable housing high in areas like Brisbane and regional Queensland, renting out a spare room could also contribute to easing housing pressures. Queensland’s Stamp Duty Concessions for First-Time Buyers Stamp duty, a tax levied on property purchases, can add significant costs for first-time buyers. In Queensland, however, the government provides generous concessions to make homeownership more accessible. Under the First Home Concession enacted on 9 June 2024, first-time buyers are exempt from paying stamp duty on properties valued up to $800k with their corresponding discount rates. They range from $17,350 for properties worth no more than $709,999.99 to $1,735 for properties in the $790k-$799,999.99 bracket.  Renting out a room does not typically void this concession, provided you live in the property as your primary residence. To keep the concessions, you could only rent out a room at least one year after moving into the property. Stamp Duty Concession Secured for Renting Out Rooms Liberal National Party (LNP)-Queensland leader David Crisafulli pledged in 2024’s state election campaign that an LNP-majority administration will let first-time homeowners put out a room to let and not lose the stamp duty discount.  However, in late November 2024, ABC Radio Queensland’s Jack Mackay reported that the Labor government enacted the LNP’s pledge into the existing policy in September, weeks before the polls that saw the LNP prevail and Crisafulli become the new state premier. Under the measure, first-time homeowners who landed a new tenant between 10 September 2024 and 30 June 2025 will not be penalised. State Treasurer David Janetzki said the current government will do everything in its power to ensure the measure is enshrined under law, but castigated Labor for “copying” the idea. Aspley MP Bart Mellish, who held two state cabinet portfolios in the previous administration, insisted the government had been looking for improvements to better Queenslanders’ housing predicament. Considerations Before Renting Out a Room While the benefits are enticing, there are critical factors to weigh before deciding to rent out a room in your first home. Legal and Regulatory Obligations Ensure compliance with local council regulations for renting out part of your property. Familiarise yourself with your state/territorial tenancy laws, including the rights and responsibilities of both landlords and tenants. Queensland, though, may be a different fish – tenants are considered boarders and lodgers under common law if the homeowner lives on the property, therefore not covered by the Residential Tenancies and Rooming Accommodation Act 2008.   Tax Implications Renting out a room could affect your eligibility for the full capital gains tax (CGT) exemption when selling your home. Make sure you have kept detailed records of rental income and related expenses to simplify tax reporting. Privacy Concerns Sharing your home with a tenant may impact your lifestyle and require clear boundaries and expectations to maintain harmony. Insurance Coverage Inform your home insurance provider if you plan to rent out a room, as this could affect your coverage. Market Demand and Rental Rates Research rental demand in your area and set a competitive rate. Popular areas like Brisbane and Gold Coast may allow you to charge higher rents, but competition could also be steeper. Renting Out a Room in Queensland Queensland remains one of Australia’s most desirable locations for homebuyers, particularly in cities like Brisbane, which offer a mix of affordability, lifestyle, and growth potential.  Househunting in Queensland has surged in recent years, with many first-time buyers drawn to government incentives like stamp duty discounts. However, rising interest rates and living costs mean new homeowners must find creative ways to make ends meet. Renting out a room offers a practical solution, especially in high-demand areas. In analysing LNP’s pledge, the team at property portal Domain noted in July 2024 that a first-time homeowner might be able to earn more money to help in mortgage repayments. They based the conclusion on analysing a three-bedroom house in Greater Brisbane, where median purchase prices are at $750k. If the homeowner bought the place on a 30-year-loan with a standard variable interest rate of 6.44 per cent and a 20 per cent deposit, their weekly mortgage repayment would be $943 – but what if they leased two rooms for $200 a week each room? Domain evaluators state that may help cover a good deal of the costs, considering three-room houses in Greater Brisbane have median rents at $595. When Renting Out a Room Makes Sense Here are some scenarios where renting out a room might make sense: However, it may not be the right fit if privacy is a top priority or if you’re unwilling to take

De facto relationships are increasingly common in Australia, but many couples may not fully understand the legal and financial implications. While these relationships share similarities with marriage, they come with unique responsibilities and challenges, particularly when it comes to financial planning and legal rights. Understanding how to navigate these aspects can help couples build a secure future together and avoid potential disputes. What are De Facto Relationships?   The Family Law Act 1975 Sec 4AA defines de facto relationships as couples of opposite-sex or same-sex who are not legally married or in a civil union but are actually living together. They must not be biologically related. The rule also applies to de facto couples where one person has another de facto relationship or are actually married; the court, if need be, may have to determine if the married person has domestic issues with their spouse that warranted the de facto relationship. The Family Law Act 1975, Sec 4AA, Part 2 also mandates, among others, that the couple themselves have the capability to use their own financial resources and show their commitment to a mutual shared life. As such, effective management is crucial for them to ensure financial security and avoid disputes. Some key reasons why de facto couples should prioritise financial planning include: Financial Communication and Planning for De Facto Couples Open and Honest Communication Transparency is key when dealing with finances in any relationship. De facto couples should regularly discuss their financial situation, including income, expenses, savings, and debt. Establishing shared financial goals can help create a sense of teamwork and trust. Joint vs. Separate Finances Couples must decide whether to combine their finances, keep them separate, or take a hybrid approach. Options include: Creating a Budget Together A well-planned budget helps couples track income and expenses while ensuring financial goals are met. Budgeting tools and apps can make the process easier and help de facto couples manage their finances effectively. Understanding Legal and Financial Rights De facto couples in Australia should be aware of their financial rights and responsibilities, particularly concerning property ownership, superannuation, and tax obligations. Seeking professional advice can provide clarity on these matters. Financial Considerations for a De Facto Breakup A breakup can be financially complicated for de facto couples, particularly when assets, debts, and joint financial commitments are involved. Planning ahead and knowing your legal rights can make the process smoother. The BFA A Binding Financial Agreement (BFA) is a legally recognised document that outlines how assets and finances will be divided in the event of a breakup. This agreement can help prevent disputes and protect both parties’ interests. Speaking to ABC’s Laura Lavelle, Tayla Kilkeary, principal solicitor at Avokah Legal, said a well-crafted BFA will take account of all potential situations to aid couples – and they must be both present in assembling the provisions.   Dividing Assets and Debts When a de facto relationship ends, both partners may need to divide jointly owned assets, including property, savings, and investments, as well as debts accrued. Those assets must be proven to have been acquired during the period of the relationship. The team at Westpac Bank claims that couples who part amicably can work together to split up their assets – but disagreements may force the escalation to Federal Circuit and Family Court of Australia if the division is not done within two years of parting ways. Cataloguing any debts accrued during the relationship is critical to help the individuals decide how to pay them off going forward. For example, if you bought a plot of land you were intending to build a house on in the future, and there’s still some balance left on the mortgage, who’s paying for it?   Superannuation and Financial Support The Family Law Act 1975 Part VIIIB will have provisions on de facto partners’ entitlement to the other partner’s superannuation or financial support, depending on the circumstances. Part VIIIC covers treatment of superannuation for couples in WA. Consulting with a family solicitor can clarify rights and entitlements. Updating Papers After a breakup, it is important to update financial documents, such as wills, insurance policies, and beneficiary nominations, to reflect the changed relationship status. Some people may also recommend immediately updating access credentials for bank accounts to prevent rapid pilferage. Conclusion It can be a wonderful feeling for two people agreeing to be a couple, whether as a de facto pairing or legal partnership – but that will require deeper maturity, open communication, and care when they have to now manage finances.  Through setting clear expectations and understanding their legal rights, de facto couples in Australia can navigate their financial journey with confidence. In the event of a breakup, having a structured approach to financial separation can make the process less stressful and ensure fairness for both parties. DISCLAIMER: This article is for informational purposes only and does not replace or supersede official finance and legal advice. 2 Ezi has no business relationships with solicitors mentioned. Please consult a relationship counsellor, civil law solicitor, and financial advisor.

The Victoria School Saving Bonus is a new government initiative aimed at easing the financial burden of education for families with children in public schools. While public schooling in Australia is often seen as a low-cost option, many hidden expenses — from uniforms and books to digital devices and extracurricular activities — can add up quickly. This article explores the true costs of public education, the impact on families, and how financial support programs like the School Saving Bonus can help. It also offers practical strategies for managing school expenses and highlights additional resources available to Victorian families. The Hidden Costs of Public Education in Australia Education in Australia is regarded as a basic right, and public schools often come with fewer direct costs than private institutions. However, families still face expenses for: A Finder study from early in 2024 tallies the basic education cost average in Australia every year at $2,547 per primary school child and $4,793 for each child in secondary school. Another report by education bonds company Futurity figured the overall cost over 13 years of basic education in Australia at $92,710. For families with multiple children, this can become overwhelming, especially when compounded by rising living costs. Victoria School Saving Bonus Recognising the increasing financial burden on families, the Victorian Government introduced the Victoria School Saving Bonus in November 2024, aimed at reducing the cost of schooling for public school students. This initiative is designed to ensure that every child has access to necessary educational resources without placing undue stress on families. The Victoria School Saving Bonus is a financial support programme providing eligible families with direct funding to help cover back-to-school expenses for students enrolled in Victoria’s public school system. The state government is allotting $280 million for the programme, with the money coming from the state budget for FY25. An estimated 700,000 families in Victoria will be the beneficiaries. The programme provides a one-off payment of $400 to be sent to an eligible child via their parents. These funds can be used for school uniforms, booklists, digital devices, or extracurricular fees, offering families flexibility in managing their school-related expenses. Eligible families can access the School Saving Bonus by following these simple steps. Check Eligibility The programme is available to all Victorian families with children enrolled in public schools for AY2025 from Prep to Year 12. However, it doesn’t apply to international students, TAFE enrollees, homeschooling students, or kindergarteners, as well as public school students who transferred to a private school. The state education office notes that Prep to Year 12 students in a non-government school may also be eligible for the Bonus, but their parents or carers must consult the school management first.   Registration While there is no application process per se for the School Saving Bonus, the government stated that a notification for eligibility will be sent to the email address of a parent or legal guardian/carer starting 26 November 2024. If they have more than one eligible child in the household, additional emails may be sent. This email will contain access details for the School Saving Bonus portal and a unique redemption code to access the bonus. The main element is that parents should have enrolled their children for Term 1 2025 by 18 October 2024 and their contact details are up to date. This is also vital if the children were transferred to another public school. Portal Access The School Saving Bonus’s official portal has a dashboard to help parents/carers program the funds needed for their child’s expenses, with a set of access buttons to guide the planning. Any purchases under the programme for uniforms of textbooks will be furnished under QR payment codes to your school’s approved supplier. Cash purchases may also be possible If there are funds left in the balance, it can be carried over into the child’s account for the future or programmed to help a sibling studying at the same school if the original beneficiary has graduated. Smart Strategies for Managing School Costs While government assistance like the School Saving Bonus can alleviate some of the financial strain, strategic planning is essential to manage the broader costs of preparing for school. The following are practical tips to make the process more manageable. Create a Budget Draft a detailed list of all school-related expenses for the year, including uniforms, supplies, extracurricular fees, and transport costs. Allocate funds accordingly and identify areas where you can cut costs. Shop Early and in Bulk Buying school supplies early often means taking advantage of sales. Bulk purchases of stationery, for instance, can save money in the long run. Second-Hand Options Consider purchasing second-hand uniforms, books, or devices. Many schools host second-hand sales or connect parents through online platforms to trade items. Leverage Financial Aid Programmes Beyond the Victoria School Saving Bonus, check for other government grants, scholarships, or school-specific financial aid programmes. Digital Device Payment Plans If your school requires a laptop or tablet, inquire about payment plans or rental schemes to spread the cost over time. Encourage Recycling Encourage your children to take care of their school supplies and uniforms so they last longer. Hand-me-downs can also be a cost-effective solution for families with multiple children. Broader Support for Schooling Costs In addition to the School Saving Bonus, other forms of assistance are available for Victorian families: These initiatives form a comprehensive support system to help families manage school expenses.  SSR and the CSEF even align with the School Saving Bonus. SSR can also honour the Bonus money to help in expenses, with 30 June 2025 as the deadline. The government states that the Bonus will be made available for eligible students after the 2025 CSEF budget has been used. The Importance of Financial Support for Education The economic challenges faced by many families, from inflation to stagnant wages, highlight the importance of financial relief programs. Without support, some children may face barriers to education, including limited access to necessary learning tools or extracurricular opportunities. The Victorian School Saving Bonus

Child care subsidy plays a crucial role in making early childhood education more affordable for Australian families. With child care costs varying widely depending on location and provider type, many parents seek ways to manage expenses while ensuring their children receive quality care. Government support, such as the child care subsidy, helps ease financial pressure by covering a portion of child care fees based on household income and work activity. As policies continue to evolve, understanding eligibility, benefits, and new initiatives can help families maximise their savings and access essential early education services. Understanding Child care Costs and Subsidies in Australia Child care fees in Australia can vary significantly based on location, provider type, and the number of hours a child is enrolled. According to recent reports, full-time child care can cost anywhere between $70 to $200 per day per child. For families with multiple children, these expenses quickly add up, making it crucial to find ways to mitigate costs. The Child Care Subsidy (CCS) is a government initiative aimed at making early childhood education and care more affordable for Australian families. The subsidy covers a percentage of child care costs based on household income, ensuring lower-income families receive more substantial support. To be part of the programme, a single parent or couple must be Australian residents with a child under 13 years old, whom they care for at least two nights a fortnight, and who is enrolled in an approved child care service. The child themselves must be immunised and not attend secondary school. Key elements of the programme include the following. Income-Based Support Under a CCS payment matrix for 2024-2025, parents of just one child who have annual income up to $83,280 receive a subsidy of up to 90 per cent of child care fees. The percentage gradually decreases for higher-income families with annual income ranging from $83,280 to $533,280.  Activity Test The subsidy is linked to parents’ work, study, or volunteering commitments, ensuring those engaged in productive activities receive financial assistance. Multiple Child Discount Families with more than one child in care have a different payment matrix. The CCS matrix for second and younger children sets the subsidy rate at 95 per cent for family incomes up to $141,321. The $141,321-$186,321 bracket sees the percentage drop by $3k every one point to 80 per cent for $186,321-$265,611. On the far end, families with multiple children and the annual income exceeding $365,611 will see the children set at the standard CCS rates. Child Care Subsidy Boost Saves Money and Grows Workforce On 28 January 2025, the Department of Education published new figures pointing to the CCS being effective in helping Australian families save on child care from September 2023. The findings reveal some plus points shown below. Substantial Savings  The study estimates that, on average, a family with an annual income of $120,000 who paid for 30 hours of childcare per quarter saved up to $2,768. Up to one million families benefited in the process. Increased ECEC Workforce Participation One of the primary goals of the subsidy is to encourage more families to consider sending their children to Early Childhood Education and Care (ECEC) centres, which will also hire more staff to handle the increased child population. The Department of Education stated that the current regime’s Worker Retention Payments have increased the wages of over 200,000 ECEC staff, starting with a ten per cent increase over award rates in December 2024; another five per cent will be added before the end of 2025. ECEC provider Goodstart may have also benefited from the increased demand for ECEC workers that the CCS has brought about. The company reported that, year-on-year, job inquiries had spiked as high as 60 per cent with completed applications going up 30 per cent. Jobs and Skills Australia data from December 2024 recorded a 22 per cent year-on-year decline in ECEC job vacancy rates. Maximising Your Child Care Subsidy Check Eligibility Parents should review their household income and work activity to determine their subsidy percentage. Update Centrelink Details Keeping Centrelink records up to date ensures the correct subsidy is applied. Consider Flexible Child care Options Some child care providers offer flexible hours that align with work schedules, reducing unnecessary costs. Claim Additional Benefits Some states offer supplementary child care assistance programmes; families should explore regional benefits. Expanding Access to Early Learning The success of the CCS has prompted the federal government to push forward with more initiatives for the child care sector. A $1-billion Building Early Education Fund is being planned for activation in July 2025 plus initiatives to guarantee at least three days of high-quality early education to every child in the country. Education Minister Jason Clare said both are checkpoints to building a universal ECEC system. To make it happen, he noted that the next Labor regime aims to build more ECEC centres in outer suburbs and parts of regional Australia with significant numbers of households in need of child care services. However, Mitchell Institute director Peter Hurley said that while the government has good intentions in building additional ECEC centres, market decisions will determine where they operate. Worse, he hinted that the subsidies might be cancelled out by certain ECEC centres needing to increase service fees to remain afloat. Conclusion Child care costs remain a significant financial consideration for Australian families, but government initiatives like the Child Care Subsidy provide substantial relief. The new subsidy adjustments introduced in September 2023 have helped families save thousands of dollars annually, increased workforce participation, and improved access to early education. As the government continues to refine child care policies under the current administration, more Australian families can benefit from financial assistance, making quality child care more accessible and affordable for all. DISCLAIMER: This article is for informational purposes only. 2 Ezi has no relationships with the federal government and does not assist in the disbursement of any subsidy. It has no business partnerships with any ECEC industry stakeholder.

In a world of constant consumer temptations, cutting back on small luxuries can often be overlooked, even though these indulgences can quietly chip away at your budget. From takeaway coffees to streaming services, many Australians are beginning to rethink their spending habits in an effort to regain control over their finances. A recent survey highlights how more individuals are setting their sights on cutting back on these “little luxuries” in favour of more meaningful financial goals. In this article, we explore the growing trend of prioritising financial health, how Australians are scaling back on everyday indulgences, and the simple strategies that can lead to a stronger, more secure financial future. Scaling Back on Costly Little Luxuries The temptation to indulge in takeaway coffee, snacks, or spontaneous online buys is universal. These “little but expensive luxuries” often go unnoticed in the grand scheme of consumer spending. However, they can significantly impact your budget when viewed collectively.  A Compare the Market survey from October 2024 claims many Australians have set their New Year’s resolution to reduce spending on these indulgences. The survey, which polled 1,006 people, highlights a growing awareness of the need to prioritise financial health over impulse buying. The idea of giving up small luxuries—sometimes referred to as the “sacrifice play”—isn’t about eliminating joy but redirecting resources towards more meaningful goals. Saving for a home deposit, paying off debt, or building an emergency fund becomes much more achievable when these little expenses are curbed. Cutting Back on Impulse Buys Impulse buying is one of the biggest culprits in undermining financial goals. Whether it’s grabbing a takeaway meal during a busy workday or purchasing an item online during a flash sale, these small, unplanned expenses can spiral into a habit. In 2025, as consumer spending habits evolve, Australians are recognising the need to avoid these seemingly trivial outlays. The Compare the Market (CTM) survey revealed that 77 per cent of respondents planned to cut back on “treats” to cope with the cost-of-living crisis. The survey also identified the five most common small indulgences that Australians are sacrificing to save more effectively, with some distinctions between baby boomers and younger generations. Everyday Luxuries Australians Are Cutting Back On Below are some common treats marked in the Compare the Market survey that many people in Australia want to stop spending on and possibly keep the money. Fast Food and Takeaway Meals The convenience of fast food and takeaway meals is undeniable, especially for busy households. However, with individual meals costing $10 to $20 per order, regular consumption can strain finances. The CTM survey put takeaway food at No1 for spending cutbacks, at 24.5 per cent overall. However, when it came to demographics, 34.2 per cent of millennial respondents were willing to make that sacrifice compared to 14.4 per cent of baby boomers.   CTM General Manager Chris Ford said takeaways will not be a good idea to spend on if you are already raising a family, even more if you order via food-delivery apps, which have their extra processing fees.  Clothing Clothing is primarily labelled in many circles as one of the three Basic Needs (the others being food and shelter) but it is No2 on the CTM survey at 9.2 per cent overall, indicating a growing need to keep the current wardrobe. When taken at demographic level, 17.6 per cent of Gen Z respondents were determined to hold off buying new clothes – against 6.3 per cent of millennials.  Travel Travelling emerged No3 in the survey at 7.2 per cent. CTM surveyors said the cutback on both domestic and international travel was noteworthy given the post COVID-19 climate, especially when travel services tended to cost more during the holiday periods. Baby boomers were found to skip travelling altogether to save more money. Streaming Services  Streaming platforms ranked No4 on the cutbacks list at 5.5 per cent. While $10 to $15 a month per platform might not seem significant, subscribing to multiple services can quickly add up. The team at Tom’s Guide reported changes to streaming platforms in 2025 that included even the basic packages being programmed with ads per video. For example, Netflix’s Standard package with ads costs $7.99 a month per household – but the ad-free Standard package is at $18.99 a month. And you also incur extra charges if you share accounts outside the household, at $7.99 per additional member.   Takeaway Drinks/Coffee Many Australians tend to buy drinks, such as juice or coffee, from a takeaway place, but this ranked at No5 on the CTM list, with 5.5 per cent of respondents overall wanting to hold back on the next purchases. This may be prudent as some observers claim that a takeaway flat white or cappuccino, averaging $4.50 to $5.00, can add up to over $1,200 annually if purchased daily. Simple Strategies to Cut Back on Small Treats Breaking the habit of spending on small treats requires a conscious effort. The following are a few strategies to help. Create a Budget Take time to list your current income stream and compare it against the present expenses; this will give you ideas on where cutbacks are in order. Some careful maneouvreing on the budget, however, is needed – a CTM December 2024 study tagged that a household’s average weekly grocery bill coming into 2025 stood at $213.64, up from January 2024’s $191.66, with the annual tally up by $1,142.96. Track Spending Use apps or a simple spreadsheet to monitor your purchases and identify patterns of unnecessary spending. Set Financial Goals If you have mapped out your income and which expenses to cut, some financial goals to set can work, especially when those expenses include some debts you need to wipe clean.  Embrace DIY From brewing coffee to preparing meals, doing things yourself can save money and bring satisfaction. Delay Gratification Before making a purchase, pause and ask if it’s truly necessary or if you can wait a day or two. Shifting Priorities for a Stronger Financial Future The current economic environment has

The holiday season brings joy, but it can also leave a hefty financial hangover. From buying gifts and hosting parties to traveling, the expenses tend to accumulate quickly. According to Finder’s Consumer Sentiment Tracker, many Australians have entered the new year carrying substantial holiday debt, with some struggling to find ways to pay it off. As we navigate the aftermath, understanding how to manage these debts and avoid future financial stress is essential. In this article, we’ll explore practical strategies to help you tackle your holiday spending hangover and regain control of your finances. Holiday Spending Hangover The holiday period is notorious for encouraging overspending. From buying gifts to hosting elaborate dinners and indulging in travel, the expenses can quickly pile up.  Finder’s Consumer Sentiment Tracker for December 2024 tagged 1,010 respondents from all over Australia. From that lot, there were 8 per cent – representing 1.7m people – who reportedly incurred huge debts coming into the holidays and are left perplexed on how to settle them in the new year. The national debt total was estimated at $2.7 billion, which breaks down to an average of $1,634 per head. Finder personal expert Sarah Megginson attributed the huge debt spending to frequent credit card swipes and use of Buy Now, Pay Later (BNPL) services, which also need links to credit cards. The settlement time for the holiday debt also bears much point for consideration. The study found that amongst the 1.7 million beleaguered consumers, 43 per cent of them, or 688,000 people, are estimating they will need as long as five months to wipe out their arrears. Only 23 per cent believe they have the money to settle everything in a month. Some, however, may have a long game to play – 19 per cent calculate between six to 11 months to pay off the debt but 15 per cent believe it will take at least a year. Strategies to Pay Off Holiday Debt Assess Your Debt List all outstanding debts, including credit card balances, personal loans, and buy-now-pay-later accounts. Categorise them by interest rates, minimum payments, and due dates. This will help you understand the scope of your obligations and prioritise which debts to tackle first. Create a Realistic Budget A well-thought-out budget is your best ally in paying off holiday debts, such as reviewing your current income stream and fixed expenses to determine how much you can allocate towards debt repayment. Some discretionary spending such as dining out, subscriptions, and entertainment may have to be sacrificed to free up additional funds. Prioritise High-Interest Debts Focus on clearing debts with the highest interest rates first, using the so-called avalanche method. Alternatively, if smaller debts are causing anxiety, consider the snowball method, which involves paying off the smallest balances first to build momentum and motivation. Consolidate Your Debts A check with your finance advisor may recommend taking up debt consolidation loans to better manage debt, especially the higher-interest ones. Consolidation loans or balance transfer credit cards allow you to combine debts into a single repayment with a lower interest rate, but you will have to fully read the terms and conditions first. Set Up Automatic Payments Automatic payment options can work towards the debt settlement by deducting from your nominated accounts when a due date comes – avoiding the danger of more interest from late payments. If your cash flow allows, consider making fortnightly instead of monthly payments to reduce interest accrual. Cut Back and Redirect Savings Some of your spending habits must be heavily modified to redirect funds towards debt repayment. For example, meal planning can reduce grocery costs, and carpooling can save on fuel.   Side Hustle If your schedule permits, consider taking on a part-time job or freelance work. The extra income can accelerate your debt repayment timeline, reducing financial stress in the long run. Communicate With Creditors If you’re struggling to meet payments, consider talking about your situation with your creditors. Many providers are willing to negotiate repayment plans or temporarily reduce interest rates. Proactively communicating shows goodwill and may help you avoid defaults. However, they still need concrete guarantees and proof you have the money to pay them back.  Avoid New Debt While you work to settle existing debts, it’s also vital to avoid accumulating new ones. Limit or stop credit card usage and postpone large purchases until your finances are under control. One idea to pursue is to possibly deactivate apps linked to the credit card with large balances, and pay the debts associated with them. Small Wins Debt repayment is a marathon but it doesn’t hurt to celebrate small milestones along the way, such as clearing one big debt item that has a hefty interest attached or reducing your overall debt by a certain degree.   Manage Debt with a Balanced Approach Attempting to pay off all your holiday debts in a single month can be unrealistic and stressful, particularly if your budget is already stretched. Spreading repayments over six months to a year allows you to balance debt reduction with other financial obligations, such as rent, utilities, and everyday living expenses. This approach minimises the likelihood of defaulting and helps build better financial habits for the future. Structured Repayment Plan The psychological burden of debt can be immense, leading to stress, anxiety, and even strained relationships. Having a structured repayment plan provides clarity and a sense of control by focusing from the daunting size of the debt to actionable steps you can take to reduce it. Over time, watching your balances decrease can bring a sense of accomplishment and financial empowerment. Avoiding Future Holiday Debt As you work to pay off the recent holiday debts, consider strategies to avoid similar situations in the future. The objective is to look forward to spending the holidays without financial repercussions, even if they are still far below the horizon. Conclusion Some finance specialists advise their clients to “don’t put Christmas on a credit card” – and that maxim may even be truer than you think! Paying off

When flood strikes, the aftermath can be overwhelming, leaving property owners facing both physical and financial challenges. Swift action is crucial to minimize the damage and prevent further complications, from structural issues to mould growth. In addition to the immediate repairs required, understanding the financial options available is essential for managing the costs associated with restoring a property. In this article, we explore the importance of timely flood repairs, the risks of delaying action, and the various financial solutions that can help homeowners navigate the road to recovery. Why Fixing Flood Damage Quickly Matters When a property is hit by a flood, the damage can be extensive and multifaceted. Water can seep into the foundations, weaken structural elements, and create a conducive environment for mould growth. The following are some critical reasons why immediate repairs are crucial: Prevent Structural Damage Water exposure is known to compromise the structural integrity of your property – even more when you consider many houses in Australia are made of wood or concrete. Immediate repairs help prevent the weakening of walls, foundations, and support beams. Mitigate Mould Growth Mould thrives in damp conditions and can begin to grow within 24-48 hours after a flood. This is even worse when there’s five classes of moulds known to grow in Australia, with black water mould the most lethal.   Immediate drying and remediation efforts are essential to prevent mould from spreading and causing health issues. Protect Electrical Systems Water can damage electrical systems, posing a significant safety risk. Prompt repairs ensure that electrical components are checked and restored safely. Reduce Long-Term Costs Addressing flood damage quickly can prevent further deterioration, reducing the overall repair costs. Delaying repairs can lead to more extensive damage, which is more expensive to fix. Finance Options for Managing Flood Repair Costs Given the high costs associated with flood repairs, it’s essential for property owners to be aware of the various finance methods available in Australia to manage these expenses. Here are some options to consider: Flood Insurance One of the primary financial protections against flood damage is flood insurance. This type of insurance covers the cost of repairs and replacements for property and contents damaged by flooding. However, it is crucial to understand the specifics of your policy, as coverage can vary significantly. Government Assistance In the wake of significant flooding events, the Australian government often provides financial assistance to affected property owners. These programmes can help cover the costs of repairs and provide relief during the recovery process. Bank Loans and Lines of Credit For those who need additional funds beyond what insurance or government assistance provides, bank loans and lines of credit can be viable options. These financial products offer flexibility in managing repair costs.  The Australian banking industry, though, may exercise some consideration with repayments for existing loans after a major disaster like a flood. In the wake of the South East Queensland-northern NSW floods in early 2022, for example, the Australian Banking Association announced that member-banks had defer loan repayments for as long as three months, which will apply to home and personal loans, plus certain business loans.   Payment Plans with Contractors Some contractors and repair companies offer payment plans that allow you to spread the cost of repairs over time. This can be a helpful option if you need immediate repairs but want to avoid taking on large loans. Steps to Manage Flood Damage and Finances The emotional and mental stress people experience after a flood may tend to overwhelm the need for rational thinking, especially when repair funds are a big question to answer.    Assess the Damage Before seeking financial assistance, thoroughly assess the extent of the damage. Document everything with photos and detailed descriptions to support your claims or loan applications. Review Insurance Policies Carefully review your insurance policies to understand your coverage limits and exclusions. Contact your insurer immediately to initiate the claims process. Explore All Options Consider all available finance methods, including insurance, government assistance, loans, and payment plans. Choose the option that best suits your financial situation and repair needs. Get Multiple Quotes Obtain quotes from several contractors to ensure you are getting a fair price for the repairs. This can also help in negotiating payment plans or loans. Even in tallying the quotes, you must also check their credentials with your state or territory’s contractor licence registry; NSW Fair Trading, in particular, states that some tradies or possibly unlicenced contractors usually come knocking after a flood offering their services. Do not pay anything without a formal contract. Prioritise Repairs Focus on the most critical repairs first, such as structural issues and mould remediation. This ensures that your property is safe and habitable while you manage other less urgent repairs. Stay Informed Keep up-to-date with any new government assistance programmes or changes to insurance policies that may benefit you. Local councils and community organisations can be valuable sources of information and support. Conclusion Floods can cause significant damage to properties, but immediate repairs are essential to mitigate further harm and reduce overall costs. Understanding the various finance methods available in Australia, including flood insurance, government assistance, bank loans, and payment plans with contractors, can help property owners manage the financial burden of flood repairs. By assessing the damage, reviewing insurance policies, exploring all options, and prioritising critical repairs, you can effectively navigate the challenges of funding your property’s flood repair and restore your home to its pre-flood condition. DISCLAIMER: This article is for informational purposes only and does not supersede existing advice on home repair or finance. 2 Ezi has no business relationships with any government office, home contractor, or emergency management agency.

Australia’s coffee culture is deeply ingrained in the daily routines of millions, with cashless coffee shops becoming an increasingly popular trend. From the bustling streets of Melbourne to the coastal cafes of Sydney, grabbing a coffee is not just about the caffeine hit; it’s a social ritual, a moment of pause, or a way to start the day. As society shifts towards a cashless economy, more coffee shops across Australia are adopting digital payment systems, offering a seamless, efficient, and modern way for customers to pay for their daily brew. One notable example of this trend is Gloria Jean’s Coffee Australia, which recently announced a directive to trial exclusively EFT (electronic funds transfer) payments at select branches. This move is part of a broader shift towards cashless transactions, reflecting changing consumer preferences and the evolving landscape of retail. Why Coffee Shops Benefit from Going Cashless For a coffee store, the decision to switch to purely digital payments can offer several benefits. Increased Efficiency The pressure of transactions in a front-end business like a coffee shop can be time-consuming and prone to errors. Staff need to count change, reconcile cash drawers, and make bank deposits, all of which can take up valuable time. By moving to digital payments, these tasks are eliminated, allowing staff to focus more on customer service and reducing the time spent at the counter. Transactions are faster, which is crucial during peak hours when queues can build up. Enhanced Security Cash handling increases the risk of theft, both from external sources and internally. Cashless transactions significantly reduce this risk, as there’s no physical money to steal. Additionally, digital payments offer a traceable and secure record of transactions, making it easier to manage finances and monitor sales. Cost Savings While there are fees associated with digital payment systems, these can be offset by the savings on costs related to handling cash, such as transportation to the bank and security measures. Moreover, digital payments can reduce the need for frequent cash pickups, which is particularly beneficial for coffee shops with high daily turnover. Customer Preference More customers are moving away from cash, preferring the convenience of tap-and-go payments. The Reserve Bank of Australia (RBA) stated the COVID-19 pandemic exacerbated the decline of cash payments, with more people opting for digital payment methods such as credit/debit cards, mobile payments, and other electronic transfers. By accommodating this preference, coffee shops can enhance the customer experience and avoid potential sales loss from those who no longer carry cash. Health and Hygiene In a post-pandemic world, hygiene has become a top priority for both businesses and customers. Handling cash, which passes through many hands, is seen as less sanitary than digital transactions. Going cashless can reduce the spread of germs, providing a safer environment for both staff and customers. Gloria Jean’s Trials Cashless Payments On 3 September 2024, the Retail Food Group announced that Gloria Jean’s Coffee, one of its component brands, will have a trial programme of exclusive EFT payments at its non-franchise branches, starting 11 September. This decision aligns with broader consumer trends and positions the brand as a forward-thinking leader in the industry. By transitioning to exclusively EFT payments, Gloria Jean’s is responding to the changing dynamics of customer expectations. Customers at these branches can now pay using contactless cards, mobile wallets, or online payment systems. This shift not only speeds up the payment process but also aligns with the brand’s focus on delivering a convenient and modern customer experience. However, the trial does not extend to Gloria Jean’s Coffee franchise owners across Australia. As a result, a franchise owner can still accept cash payments. This decision also supports the broader movement towards a cashless society in Australia. As more businesses, including coffee shops, adopt digital payment systems, cash is gradually becoming less common, especially in urban areas. A Gloria Jean’s representative said the move  was meant to improve the safety and security of employees at the non-franchise branches. For customers, the switch to digital payments in coffee shops like Gloria Jean’s offers several advantages: Conclusion The transition to digital payments is not just a trend; it’s a reflection of the broader changes in how society interacts with money. For coffee shops, adopting digital payment systems is a way to stay relevant and meet the needs of a modern, tech-savvy customer base. As Australia continues to move towards a cashless society, coffee shops that embrace this change can benefit from increased efficiency, enhanced security, and greater customer satisfaction. Even if it’s just a trial period, Gloria Jean’s Coffee Australia’s decision to activate EFT payments at select branches is a testament to the advantages of going digital. For other coffee shops considering this shift, the move to digital payments is more than just a convenience — it’s a strategic decision that can improve operations and customer service, ensuring that they remain competitive in an evolving marketplace. DISCLAIMER: This article is for informational purposes only and is not meant to replace financial advice. The information listed is based on the most accurate data at time of writing. 2 Ezi is not affiliated with any food industry body, coffee chain or digital payments service.