NSW premier prepared to clash with councils over affordable housing incentives for developers

What’s the point of interest rate hikes to decrease demand when we are taking on record levels of immigrants to only stimulate demand across the board while doing nothing on the supply side? - This goes across wages, housing, academic inflation where everyone has the same 4 degrees.

I understand increasing ... See More rates to slow things down, but this just won’t happen when you hypercharge immigration when all these people will stimulate things even more.

Can someone help me understand what the goal is? A worse income to expense ratio then we already have? Asphyxiating the middle class so more can go to the upper class whilst creating a larger lower class…?

Oldies splurge on holidays and cruises amid interest rate windfall as Millennials tighten their belts.

What to do with money from first "real" job? - Hi all,

Situation:

* Graduating from uni at the end of this year, and have my first "real" job lined up for around $75,000 a year.
* I have around $15,000 savings and $20,000 assorted shares from my uni job.
* Living with parents ... See More - they're more than happy for me to stay. I initially thought I would stay with them for one more year (my first year working), but they reckon I should stay for two more and really save - not too stressed about deciding just yet.
* I pay no rent and my Dad in particular is keen on me not paying any. Next year I would want to pay some even just like $50-100 a week once I start work because I feel bad. Or even just shout us all a breakfast & takeaway meal instead.

I'm not gonna be super stingy or anything but I still would still like to build up my financial situation. What is best to do with money? Just in savings account? I'm not too savvy with shares or anything like that (my dad has done all my investing for me LOL).

‘Per-capita recession’ tipped as banks slash economic growth forecasts - Smashing the economy to save house prices. Let's go baby!!

Early 20's, just left job with 100k savings. What options do I have? - G'day,

I'm early 20's who climbed the corporate ladder quite fast and have decided to step down in pursuit of exploration, happiness and general freedom for myself to look for what really makes me fulfilled before committing ... See More myself too deep again.

My situation is this:

Total Savings/Assets: Around 100k

* Cash: 70k
* 2 Old Toyotas (1 being sold, other in use and high maintenance cost, undecided what to do with it yet): 25k
* House appliances + furniture: 10k
* Income trickle from ex job (commissions): 5k.

Total Expenses: $900 p/w.

* House (rent + bills): $550 (house to myself)
* Transport: $90
* Food: $170
* Personal (health, clothes, subscriptions): $90

I do not have a clear idea of what is next, travel, study, mundane job to get by, charity work.

My main concern at the moment is not throwing away my savings and earnings from this job and having to start fresh, or having the constant financial pressure while i'm exploring new options.

Any advice is welcome, what would you do? How would you handle this situation?

Am sole trader, so tax time is also a consideration.

Anyone here recently quit their job to start their own business? How are you going? - Been fantasizing about this for a while but with high cost of living, high inflation, high interest rates, high wages, high risk of recession, there's a lot of risk.

Anyone done so recently, within the ... See More past year or 2? How are you going?

Would Kaufland in Australia have helped reduce food inflation? - Remember when German supermarket giant Kaufland was about to set up shop in Australia before the start of the pandemic?

I can't help but think that Kaufland would have shaken up Coles and Woolies and helped keep them competitive on pricing.

Coles ... See More and Woolies essentially holding a duopoly over the market have allowed them to bump up their prices across the board with no reservations.

We need some more serious competition in the Australian supermarket sector as we know food inflation has been a big contributor to cost of living increase.

Perhaps Aldi will capitalise and capture market share from the 2 supermarket giants?

How important is putting nutritious food on your table vs cost - I know someone who is wasting away literally because they refuse to buy enough meat, increase food portions (kids getting older) and buy better quality produce. Has kids too and they are very small for their ages. And ... See More yes, they can afford it. Is sacrificing nutrition to get ahead financially worth it?

‘Strong and deep’: Home buyers ignore rate rises

Penny-wise, pound-foolish in real life - as per title - what are some blatant examples you witnessed? Not talking about small things like buying a $5 bread instead of $6, and then splurging on Uber Eats. Talking about big things.

I'll start. A close of friend of mine prefers to pay ... See More cash for most things to save on card surcharges. Sadly, her house was broken into a while ago, and apparently, a lot of cash was stolen, too. While she was able to lock her bank card and get a new one promptly, all the cash savings went down the toilet with no chance of recovery.. yikes!

Can we stop with the daily immigration posts? - Honestly it's enough. We get it. There's immigration. At this point the flavour is feeling very "political agenda"ish.

It's really convenient to blame immigration but it's a catch 22 situation right now and it's not the sole cause to the housing ... See More issues that's had a decade to boil.

We have become a subreddit full of moaners (even more so than usual) and it's barely finance related anymore.

This is becoming worse than r/australia.

Humble proposition that incessant immigration posts are stopped by the mods. We already know the numbers for the next 2 years. None of this is news or interesting, just allows people to rant about how they hate immigration.

On the economics of homebrewing - Seeing as we are seeing a lot of cost of living posts, I thought I'd add a little post on considering homebrewing as a cost saving measure and share my own experiences.

I took up making my own hard cider as a hobby during lockdown ... See More and have kept it up because I actually prefer my homemade gear to most commercial products out there, which tend to be a bit too sweet for my palate. It's also super easy, without the need to go through boils and hopping as is the case with beer. Each batch takes under an hour of labour all up to sterilize the gear, pitch yeast, and then keg a few weeks later after fermentation. My keg takes 18L which then lasts me a few months.

The initial outlay was about $1000 all up for a fermentation vessel, keg, gas regulator and connectors, sterilization products, and a second hand fridge to keep the keg in. I use Sodastream gas cylinders to carbonate and it's pretty easy to find an adaptor to attach them to your regulator on eBay. I think you could do it much cheaper with glass demijohns and bottling yourself, but the convenience of a kegerator is really worth it, is less work all up, and doesn't risk bottle bombs from bottle carbonation.

With that all purchased, each batch of 18L costs me around $80 in consumables, being preservative free apple juice, yeast and the occasional Sodastream cylinder.

Be interested to hear how that compares to beer homebrewers too. Let me know if you have any questions.

A huge boom looms - After our friend in Sydney’s post today about a slow night for an inner western restaurant being slow, I can confirm this is isolated.

I spent the afternoon and night in Melbournes Southbank and CBD.

Tourist and money was flowing though the Casino and even ... See More the buskers were making a killing.

Myer was rammed with people enjoying stock take sales and lines out the door at a very popular green restaurant on Lonsdale street we’re seen at 5.30pm!!

I personally spent $60 on 3 pints and a 2 cokes and even $70 on a very average dinner at taco bills cause it was the only place I could get in to!

You heard it here first - Australia is pumping and only good times ahead

That is all.

For those of us who are older or have an economics degree... - ...is what is happening now relatively normal?

Asking as I know news outlets intentionally dramatises events and most of this sub is < 30 years of age (myself included).

To get a more rational/long-term perspective on things, I'm just ... See More curious whether in your opinion what is happening right now is just part of the economic cycle (i.e. we will be fine in a year or two) or are the current statistics and signs pointing to something abnormal/more serious?

As it is, I'm just putting as much as I can into my offset and holding steady. Not a financial expert myself but my "consistent small steps win the race" approach has worked surprisingly well thus far (touch wood).