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Personal Finance

Yes, you can claim a tax deduction for a bag — as long as you follow these rules

Handbags, backpacks and other work bags may be tax deductible providing they comply with some rather strict rules.
A stylish woman in a beige coat and jeans holds a large black handbag.

'It makes me feel ill': Author Elfy Scott on the reality of living in Sydney's current rental market

It's Pay Day! Author Elfy Scott answers all the money questions we don't like to talk about as we seek to demystify personal finance and normalise conversations about how we think about money, what we earn and how we spend it.
A woman in her 20s smiles with an orange backdrop, wearing a black dress

How smart meters are changing your power bill

There is a huge change happening in the way we pay for our power and whether you can get the balance right could have big implications for your energy bill.
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A man with his palms out with pictures of old and new power meters superimposed hovering over his right and left hands.
Duration: 8 minutes 42 seconds

Parents 'panicked out of their mind' by cost of living turn to doomsday prepper for help

Trevor Andrei is a self-described doomsday prepper and survival guide. But it's not just people fearing the end of days that are coming to him for help, as the cost-of-living crisis bites hard. 
Trevor Andrei stands in a short with his name on the front at his property in regional Victoria on a summer day

You can save hundreds in a few hours by ticking off these financial housekeeping tasks

Do you shop around when your insurance company or energy supplier sends you a bill with increased prices? If not, you might be missing out on savings.
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A woman smiles while putting a coin int a pink piggy bank.

Parents failing to submit tax returns are skewing child support payments

Legal experts want the federal government to foot the bill for child support if an ex-partner doesn't pay, with new data revealing last financial year 168,000 parents had overdue tax returns. 
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Why migrants are $140,000 worse off than people born in Australia

The average superannuation balance at retirement for people from non-English speaking backgrounds is about 30 per cent lower than the general population. 
A graphic of a woman with brown hair and a piggy bank against a teal-coloured background.

Without realising it, Marc opened 19 super accounts. He says it has halved his retirement savings

It wasn't until Marc Ypinazar fell in love with his now wife Elle Roberts, and the couple began combining their finances, that he realised his super accounts were in disarray and he was losing money. The ATO says there is $16 billion in unclaimed superannuation.
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Two adults and three kids smile in a selfie

Car insurers expect you to be 'lazy' with finding a better deal — here's how to beat them

Is your car insurance policy due for renewal soon? If you're a loyal customer, your insurer may not be giving you the deal you deserve.
A young woman sits on a couch, in front of a laptop with two printed bills in her hands, looking shocked.

'Our farming debt has carried over for generations': Leila McDougall on farming, finances and making her first film

It's Pay Day! Farmer and filmmaker Leila McDougall shares the surprising truth about life on the land, how her family informed her attitude towards credit cards, and why it's important to believe in yourself. 
 A woman in a brimmed hat, long-sleeve shirt and vest stands leaning on a cattle fence, cattle behind her

Pay Day with Caitlin Figueiredo: 'I've lined up back-to-back house-sitting gigs so I don't have to pay rent or utilities'

It's Pay Day! The ACT's Young Australian of the Year, Caitlin Figueiredo, shares the first big purchase she made at just eight years old, why she won't stop buying people gifts and how she's managed to stop paying rent.
A young woman in a blue, button-up shirt stands in front of a marble staircase.

'An enormous betrayal': Understanding financial infidelity

Financial infidelity can range from some "low-key sneaky spending" on clothing, through to racking up debt on a secret credit card, or gambling away savings.
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Close-up of woman putting a brown leather wallet in the back pocket of her jeans.

After working all her life and still not having enough super, this 60-year-old nurse decided to chuck it in and hit the road

A study by The Australia Institute finds superannuation tax concessions will only widen the wealth divide for women and low-income earners like Debra.
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A woman with short grey hair in a black top smiles with her little white dog on her lap

'I have shop-lifted to feed my family': Dr Liz Allen on the shame of poverty, and the life lessons it has taught her

For Pay Day, demographer and social researcher Dr Liz Allen shares the shame that comes with living in poverty, the secrets of survival, and how this experience "grants perspective that can never be bought".
Liz Allen, wearing black floral blazer over navy top, smiles outside in front of a brick wall

Why lawyers say the 'bank of mum and dad' is driving demand for Australia's version of a prenup

Antoinette and her wife are joining a growing number of Australians seeking "prenups". Lawyers say the harsh economic climate and growing number of parents giving children money is driving more people to consider them.
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Two wedding bands resting on a book.

The 'remarkably devious' ShinyHunters hackers allegedly behind the Ticketmaster data leak

An international syndicate that uses a Pokémon avatar claims to be behind a major Ticketmaster cyber attack, and it's not the first time the group has taken aim at high-profile companies with vast customer databases. 
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A hooded man holds a laptop computer as cyber code is projected on him.

The $4,000 travelling mistake that left drag superstar Hannah Conda at the 'lowest point in her financial life'

It's Pay Day! Australian drag superstar Hannah Conda explains the expensive reality behind the scenes of her glitzy appearances on RuPaul's Drag Race, and the travel mistake that led her to the lowest point in her financial life. 
Hannah sings into a microphone in a frilly pink dress with white underwear on display. A shirtless man plays a pink piano.

analysis:Soft deals with banks and inaction after tip-offs — brand ASIC needs a change

After years of issues and commentators calling for reform, the findings from a parliamentary inquiry into the corporate regulator ASIC are expected next month — with signs that significant changes could be on their way. 
People work at desks in an airy room, sitting in front of computers.

Four financial advisers reveal what to do if you ever win the lottery or receive a surprise inheritance

Winning the lottery could be life-changing if you spend the money right. We spoke to four personal finance experts for their hypothetical tips if you were to receive a windfall.
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Stack of several thousand dollars of Australian $50 notes showing Edith Cowan

The hidden costs of home ownership and why they're on the rise

Paying a mortgage is just one part of home ownership. Here are some of the other expenses to factor in.
A home buyer looks at documents. In the foreground of the image is a model house and keys.

For self-employed artist Nordacious, home ownership still feels like 'a lofty aspiration'. But this is his 'slow and steady' plan

It's Pay Day! Brisbane-based visual artist Nordacious, AKA James Hillier, shares the lesson of "delayed gratification" that he learned from his parents and the irresistible guilty splurge in his shopping trolley most weeks.
A split image shows a man sitting against a brick wall and two pop-art style illustrations of David Bowie and Freddie Mercury

Questions to ask a partner that can protect you from financial abuse

One in six women in Australia experience financial abuse. We share three ways that could increase your financial safety, including the questions you should ask a partner early in a relationship.
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A woman and man look over finances at their laptop while sitting at a dining table.

Get the most bang for your buck from digital subscriptions

Reviewing what you're paying for digital subscriptions — and what you're getting in return — can be a good place to start if you're looking to cut household expenses.
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A close-up of a hand holding a small television remote, which is pointed at an out-of-focus TV.

Charlie is selling lemonade to save up for a boat, and the skills he's learning could help set him up for life

When six-year-old Charlie watched a Bluey episode where the pup made a lemonade stand, it motivated him to start saving. An expert says the vital money skills he's learning will help him throughout life.
A boy fits a lid to a cup of lemonade at a lemonade stand.

Life after coffee: Why quitting caffeine makes sense for your mind and your bank balance

After decades as a big coffee drinker, Jesse recently gave it away, and says he is already noticing health improvements. Experts agree there are a range of benefits to ditching the daily grind.
A man holds a coffee mug as he sits on a balcony overlooking a valley.