Money101

Aussies will soon have the right to disconnect after hours, with the hope of combating the growing, excessive work culture.

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Employee’s right to disconnect could boost productivity and retention | Money101 Did you know that in 1856, Victorian stonemasons won a world-first fight, and demanded that they would work no more than 8 hours a day? Nowadays, Aussies are putting in long and excessive working hours. With the development of digital tools and flexible working models, being constantly contactable i...

AI in its current form is everywhere. It can be used to write articles, code and even generate some pretty realistic images and videos. But in the world of finance, can it help us with our money goals or our money issues?

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Can AI help everyday Aussies with their finances? | Money101 AI is everywhere these days. To some it’s a great tool, to others it can seem confusing, or even intrusive. We think of AI, we think of robots and all the movies that show us everything that can go wrong with them. AI in its current form is everywhere. It can be used to write articles, […]

Financial distress among employees often translates into reduced productivity, higher absenteeism and increased turnover rates. Financially secure staff are more likely to be engaged, motivated, and committed to their employer’s goals.

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Winter is right around the corner. Colder months means the extra cost of keeping our homes heated. So what are some ways we can ease the cost of heating, without having to go without completely?

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The cost of winter is coming | Money101 We can all feel it in the air: winter is right around the corner. That means cold days and even colder nights. And colder months means the extra cost of keeping our homes heated. Heating can be a huge expense on the household budget and, like most other things, its cost has increased over the […]

Whether it's the news, social media or newspaper; it’s safe to say that lately, there’s been a lot of doom and gloom in the world of money. But there are a few rays of sunshine that may brighten your day soon:

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Feel like there’s nothing good in the world of money right now? Don’t worry, it’s not all doom and gloom. | Money101 Whether you watch the news, scroll through social media or read the paper; it’s safe to say that lately, there’s been a lot of doom and gloom in the world of money. Rising costs, housing accessibility, interest rates and inflation, it’s all painting a very grey picture. So much so, that when t...

Almost a third of older Australians have considered a “grey divorce”, with more couples over the age of 50 splitting up than ever before.

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We can all veer off track from our financial plans now and then. Falling off the wagon can leave us feeling overwhelmed and deflated. What are some things you can do to get your plans back on track?

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The term ‘budgeting’ can often produce images of restraint, penny-pinching and a whole lot of sacrifice. But a recent idea from social media is challenging this perception with the concept of ‘loud budgeting’.

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A recent study revealed that the top personal goal researched by Aussies in the summer was...

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The average driver spends thousands of dollars on fuel each year. But fuel is one of those things that's difficult to cut back on. So how do you try and save money on fuel costs?

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A third of employees would use financial education and tools at least once a month if their employer offered these services. Sadly, only 15% of employers have.

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Australian workers took an average rate of six days in unscheduled absences each in the last financial year. This may not sound like much on face value, but beneath the surface there’s lots of consider.

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There have been a lot of news stories lately about the stage three tax cuts that are coming into effect from 1 July this year. But how does it all actually work?

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We’ve all learnt over the years not to answer calls or texts from numbers that we don’t know, and certainly not to click on any suspicious links. We will also know that banks won’t ask for your login or personal information via text or email, so anyone trying to get information from you is a big fat liar.

However, if you get a phone call or text message that mentions the number 1300 705 750, then you should get in contact with your bank as soon as possible. Why? This is the number of the Fraud Bureau Service (FBS) that operates on behalf of banks in Australia. They help to protect us against fraudulent transactions 24/7.

If the FBS tries to contact you, it’s because a suspicious purchase has been attempted with your bank card, which they have blocked or flagged pending contact with you. If this happens, you may end up needing to cancel your bank card. Depending on the amount of the attempted transaction or time of day, you should receive a phone call from 1300 705 750, or an SMS from 0489 988 024 or 0489 988 025.

But as always, if you can’t tell if something is legit, it’s best to err on the side of caution; hang up or ignore the message and call your bank directly for answers.

Maybe your goal for 2024 is to spend less; sometimes easier said than done. Smoothing out your expenses over the course of the year could help you identify areas for cutting back without feeling like you have to give up everything.

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What is financial wellbeing? It's more than just having money in the bank; it’s about understanding and using financial resources to live a comfortable life.

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In a world where financial decisions can shape our future, understanding the concept of financial literacy becomes paramount. But what is financial literacy and why is it important? 👉 Read more: https://rb.gy/zk281m

Australia’s big supermarkets are the next item to be put under a Senate microscope with a newly announced inquiry to investigate their market power and pricing decisions, and whether customers are being subjected to ‘price-gouging’ during the rising cost of living.

It feels like costs are increasing across the board, and groceries have been no exception. The reason for this is mostly inflation, and the extra costs that supermarkets incur with transport, petrol, and other areas. But some people think that the price of groceries has been inflated beyond any additional costs that rising inflation has placed on supermarkets. With the big supermarkets recording hefty profit margins, Aussies want answers.

The two main players in the supermarket game have dominated the industry with little threat from others. Along with prices the senate inquiry will look at this supermarket duopoly, as well as the labelling of discounts that aren't actually discounts, automation and technology used throughout stores and protections for suppliers.

The inquiry won’t be expected to start until next year, and for now, it will be difficult to determine exactly how it will all play out. Senate inquiries take time, so any result that might arise that favours the consumer wouldn’t come into effect any time soon. For now, at least, supermarkets will determine their prices as they wish.

More than 50% of young people identify financial security as a personal concern. Financial issues were also noted as a barrier to achieving study and work goals.

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According to the latest from the WGEA, the gender pay gap has decreased to its lowest ever recording of 21.7%. This means for every dollar earnt by a man; a woman earns 78 cents. This equates to $26,393 per year. There are many reasons why the gender pay gap persists, and it can’t always be translated into numerical data. We know that generally, women take more time out of the workforce than men. They raise children and often take on the role of caregivers. They are also more likely to be in casual or part-time roles. Sometimes these are choices, other times they are not.

However, another important thing to remember when it comes to the gender pay gap is that it also affects the superannuation balances of women across Australia. Women earning less in the workforce than men means they receive less in compulsory super employer payments. Currently, women reach the 60-64 age bracket with around $70,000 less in super savings then men in the same age bracket*.

The narrower the gap, the better off women will be in retirement. The narrower the gap, the less likely women are going to need to rely on the Age Pension. The narrower the gap, the better off everyone will be.



*ASFA, Developments in account balances: Superannuation account balances for various demographic groups

🌟 Exciting news from Money101! 🏆 We're thrilled to announce we've been recognised with a LearnX Diamond Award for Best Online Learning! 🎓✨

🥳 A big thank you to our dedicated team and the wonderful learners who have been part of our journey! 🎉

But the excitement doesn't end there! Stay tuned for upcoming announcements as we approach our 20th anniversary. We're enhancing and expanding our financial wellbeing and education content in 2024. Cheers to continuous learning and growth! 🚀💰

Planning to retire early? Can you rely on your salary and super, or are you looking to make other investments?

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The social cohesion index provides an indicator of the overall social wellbeing of Australia, measuring things like belonging, worth, participation, acceptance and rejection, social inclusion, and justice. The latest release reveals that financial pressures and the rising cost of living has seen an increase in financial stress, and those who describe themselves as ‘poor’, ‘struggling to pay their bills’ or ‘just getting along’ increased from 31% to 41%*.

One of the best ways to improve overall financial wellness for Australians is to provide access to education. But financial education can be a minefield, including undertones of product selling, particularly when it comes to specific things like credit cards and home loans. Money101’s financial wellbeing platform contains no products or selling, so as a top-notch employer, you can be assured you're providing 100% educational education content. Get in touch today and have financial wellbeing ready to go for your workplace in a jiffy.

# FinancialWellbeing


*Scanlon Foundation Research Institute, ‘Mapping social cohesion 2023’

The average Aussie is expected to spend nearly $1,500 this Christmas on food, alcohol, eating out and travel. It can be hard to cut out one of these to save a bit of money, so what can you do to make it a little easier?

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A new survey suggests more than a quarter of Aussies don’t have any savings, and more than two thirds are in debt*. Many households are living week to week as the cost of living keeps rising.

The recent RBA announcement of another rate increase is unlikely to ease the issue. As we move into the expensive festive season, these pressures will continue to test many Australians.

While employers can't solve the issues of the economy, they can help their staff by providing access to quality financial education. Money101 offers a range of solutions for any workplace. Visit money101.com.au to find out more.



*Compare the market, ‘One in four Aussies say they have no savings, alarming new research reveals’

We've all had financial setbacks – whether due to market changes, unexpected expenses, or not having sufficient income. But there's another factor you might not have considered: financial self-sabotage.

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Are you a content creator, social media influencer or brand ambassador? If you got stung during tax season this year, it might be because you didn’t know you needed to register for GST. Did you know that if your GST turnover from your enterprise is more than $75,000 in a 12-month period, you may need to register for GST with the ATO?

Making sure you’re paying what you need to upfront could save you a lot of hurt come 1 July.

👉 Read more on the ATO website: https://www.ato.gov.au/Business/GST/Registering-for-GST/

1 in 3 Aussies have experienced psychological stress related to Buy Now Pay later debt. New legislation in progress (not yet law) would mean better protection for vulnerable consumers.

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