Making Money Easy

There’s a lot of good data informing out interest rate crystal ball this week. Monthly inflation data has turned slightly lower and the latest retail spending figures show consumers are starting to open their wallets less. There’s a chance the Reserve Bank is about to hit pause on interest rates rises after multiple hikes since May. Mortgage holders will be cheering, savers will be wanting them to keep going. But inflation is still VERY high, so why would the RBA stop? One of the economists this episode thinks, the RBA doesn’t want its fingerprints on a 2023 Australian recession. We also find out why the RBA Governor is apologising to mortgage holders, and how house prices will look next year. St George Bank Chief Economist Besa Deda and Market Economics Managing Director Stephen Koukoulas join Gillian to explain.

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You might want a wage rise right now but the Reserve Bank Governor is rejecting the idea for the sake of the economy. So is he on the money and how realistic are his expectations of Australians to stop asking for one, to help stop rising inflation? The bigger question is what will inflation look like in the future? My economists this episode have some really good insights AND on the impact of climate change on rising prices as the world transitions. Plus - we consider the sort of Christmas present the RBA is considering giving to consumers at its last board meeting of the year. Lead Economist at Impact Economics Angela Jackson and EY Chief Economist Cherelle Murphy join Gillian to explain.

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Unemployment in Australia has returned to its lowest level in almost 50 years. People looking for full time jobs are snapping them up faster than part-timers but there are still plenty of vacancies. So what are the surprise industries calling out for workers? And how is it impacting small businesses? Plus - there’s been a jump in wages but is it actually being felt in the right way. We take a look at what’s fuelled the increase and what the RBA will DO with all this economic data.. Plus can you believe there are now 8 billion people in the world? This episode takes a look at the good, the bad and the ugly of that. St. George Senior Economist Pat Bustamante and Emma Grey, Manager of Economics, Impact Economics join Gillian to explain.

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So consumers are feeling as bad as they would, if we were in an actual recession. Australians are employed at record levels, economic conditions are pretty strong but sentiment is glum. You might think that’s bad - but one of my experts this episode argues consumers feeling glum right now is a victory. Huh? Hint - it’s linked to rising prices. We’ve also got the latest on the state of mortgages after the full year results of two of the Big 4 banks. And differing views on rates - one thinks there’ll be only one rise next year while the other thinks there’ll be multiple. Welcome to the world of forecasting. ANZ Senior Economist Adelaide Timbrell and Peter Martin, the Economy Editor at The Conversation and a Visiting Fellow at the Crawford School of Public Policy join Gillian to explain. Find out more Gillian here.

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Interest rates may still be rising and mortgage holders are yet to feel the full pain of them but this week’s expert still believes Australia is the best place to be right now. In this one-on-one with CommBank Chief Economist Stephen Halmarick, we explore the latest Reserve Bank rate hike, the financial strain coming for Australians and what major economies are heading for recession next year. Prices-wages spiral - do you know what that is? It’s on the RBA’s radar. We find out what it is and how Australia can avoid it. Plus Stephen has written his own list on what needs to change at the RBA to make it better for us all. Find out what he thinks the pending RBA review should roll out. Find out more about Gillian here.

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Federal Budget analysis - there's so much of it but now the dust has settled, are you ready to find out what it means for you and the Australian economy? What about the impact of the budget on inflation, your job, your wage, your grocery and energy bills and future interest rate rises. There's a lot to digest and some of it isn't pretty, especially with the looming impact of possible recessions in key economies overseas. And how does all this play into the MAY Federal Budget (it's not that far away!!) and the difficult financial decisions ahead for all of us. Barrenjoey Senior Economist and self-described 'budget nerd' Johnathan McMenamin and ANZ Senior Economist Felicity Emmett join Gillian to drill down into these important topics. Find out more about Gillian here.

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Let’s dive into money behaviour and why understanding it will improve your financial freedom. Sound too tricky? It’s not! Mind Over Money author Evan Lucas has done all the hard work and written an easy-to-read book to help. To give you a taste, Gillian and Evan pick apart what drives your money decisions and why your finances are intertwined with your emotions, learned behaviours and biases. Evan’s argument is - if you can understand WHY you do what you do when it comes to money and reflect on whether it’s the best decision - it’s a ticket to financial freedom. Mind Over Money describes itself as a ‘life-changing book’ - have a listen as Gillian finds out just what that means.

Find out more about Gillian here.

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There's a lot of gloom and doom talk surrounding the Australian and global economy right now. The Federal Treasurer Jim Chalmers has headed overseas to attend a key finance ministers' meeting to get more information about what's going on while the International Monetary Fund has released its latest updates on what we're facing. But there's more to this story. As the ANZ Chief Executive says, Australians have never been wealthier, never had more liquid assets, never been healthier or more employed. This episode Gillian gets to the bottom of what's going on and if a Recession is on the cards, with the help of Barrenjoey Chief Economist Jo Masters and ANZ Senior Economist Catherine Birch. And find out what ELSE the Reserve Bank does besides hike interest rates. Find out more about Gillian here.

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We’ve had a smaller interest rate hike from the RBA but don’t let that fool you - the hiking cycle is NOT OVER YET. Despite 6 rises in a row, inflation is still way too high. We’ve got the latest figures on the cost of your groceries and when prices may start to budge. Plus which supply chains are starting to improve and how that’s impacting those building homes. We dive into the real reason house prices are falling and what it means for owners and buyers. And get ready for the October Federal Budget - why is there so much talk right now about taxes. Bank of Queensland Chief Economist Peter Munckton and CommBank Senior Economist Kristina Clifton join Gillian to explain. Find out more about Gillian here.

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We're living longer but are you prepared for what that might look like if you lose your capacity to make decisions for example through a condition such as dementia or an accident? What about if it happens to your loved ones? That's where Power of Attorney comes in. This episode we take a look at what it is, how it works, legally and the best person to choose to make your financial and life decisions. Plus how it can go wrong and what to do to avoid conflict. Don't think this is just an OLD PERSON issue - anything could happen to you at any time. Whoa let's not scare each other but it's good to be informed as no one wants to end up in unnecessary financial strife. Anna Hacker, General Manager - Estate Planning at Australian Unity and Anita Bartfeld, Barrister - Victorian Bar join Gillian to explain.

Links to websites mentioned in the episode: 

Office of the public advocate (OPA) https://www.publicadvocate.vic.gov.au/

Civil and administrative tribunals:

• NCAT: https://www.ncat.nsw.gov.au/
• VCAT: https://www.vcat.vic.gov.au/
• QCAT: https://www.qcat.qld.gov.au/
• WA SAT: https://www.sat.justice.wa.gov.au/
• TASCAT: https://tascat.tas.gov.au/
• SACAT: https://www.sacat.sa.gov.au/
• ACAT: https://www.acat.act.gov.au/

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