1 DUST OFF FORGOTTEN GIFT CARDS
LAST WEEK I made the brave decision to tidy my teenage son's bedroom. Turns out it was a lucrative experience. Among the decaying remains of school lunches and other questionable finds, I discovered several unused gift cards - JB Hi-Fi ($50), Rebel Sport ($25) and Village Cinemas ($50).
This is not unusual. While gift cards have a reputation for being a lazy gift, recipients are often unequally "meh" about them. According to comparison site Finder, two in five of us have unused gift cards lying around, with an average value of $243.
Finder's head of consumer research, Graham Cooke, believes more than a third of gift cards go unused. "By not redeeming them, you're essentially giving that money back to the retailer and losing out on a great deal of savings," he says.
Since 2019, most gift cards are required to have a minimum three-year shelf life. So, use it or lose it. If you know there's a gift card tucked away somewhere but can't find it, ask the giver if they have the receipt. Some retailers may replace the gift card if you have proof of purchase, once they check the card hasn't been redeemed.
2 GRAB A SUPER CO-CONTRIBUTION
YOU COULD BE eligible for a free boost to your super of up to $500. Sure, it's money you may not be able to access today, but if you're heading into retirement, a co-contribution is definitely worth a look.
If you earn up to $43,445 and make an after-tax super contribution of $1000, the federal government will chip in an extra $500. A partial co-contribution is available if you earn up to $58,445.
You don't need to apply for the super co-contribution. The tax office will work out if you're eligible and automatically top up your super account.
3 LOOK FOR LOST MONEY
Esta historia es de la edición July 2023 de Money Magazine Australia.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición July 2023 de Money Magazine Australia.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
An outrageous, beautiful monopoly
Telstra's mobile business is a cash machine with few competitors, giving it the highest returns in the world.
Drop the anchor to judge value
Buying and selling decisions should be based on where a stock price is going, not where it has been.
Powering the AI boom
Beyond the software and chipmakers, where will the energy come from?
Get into life
Tucked inside super are products that can protect you from life's inevitable uncertainties.
Paths to home ownership
Taking the road less travelled can sometimes deliver unexpected benefits.
Sold! Quick ways to add value
Small, strategic changes can have a big impact on the look and feel of your home. And get you a better price on auction day.
Money lessons the kids need to know
Your children can learn a lot from your past money mishaps. Here are eight financial conversations I have had with mine.
Property-investing rules: are they likely to change?
The pressure for the government to curb the tax benefits of tax concessions, such as negative gearing and the capital gains tax discount, is unrelenting. Most recently, independent senators David Pocock and Jacqui Lambie proposed five options for paring back investment property tax concessions, with savings to the Federal budget of up to $60 billion over the next decade.
What's love got to do with it?
A rollercoaster of emotions could be driving poor crypto behaviour.
Are we ready to be cash-free?
Saying goodbye to our piggy banks too soon could leave small businesses in the dark when problems arise.
