Why Aussies are spending less on Dad this Father's Day
Father's Day hit by spending squeeze, Qantas stuff-up sees bargain hunters fly in style, and what Aussie kids are saving for.
Here are five things you may have missed this week.
Dads cop spending cutbacks this Father's Day
Sunday, September 1 is Father's Day, and Australians are expected to spend $820 million on gifts - an average of $100 per dad, though this is down from $112 last year.
Australian Retailers Association CEO Paul Zahra, says Father's Day remains a popular celebration but adds that no one is spared the impact of a cost-of-living crunch.
Around 800,000 Australians have stocked up early, buying Father's Day presents in advance to take advantage of mid-year sales.
CommBank data suggests socks and jocks no longer top the list of Father's Day gifts, with dads more likely to receive a lottery ticket this Sunday.
Qantas ticketing error leaves buyers flying high
The OzBargain site lived up to its name this week when it posted an alert that Qantas was selling first class return flights from Sydney or Melbourne to Los Angeles, for just $4299.
These flights normally retail for upwards of $13,000 each way.
The post clearly noted that this was likely an "error fare" and encouraged readers to book it while they could.
And so they did, in their hundreds.
It didn't take long for Qantas to spot the error and contact ticket holders, who have been offered a refund or a flight in business class. It's not a bad deal. Business class return tickets to LA from the east coast will usually set you back around $16,000.
Is Qantas entitled to back out of the fares? Yes. The airline's terms and conditions spell out that if a fare is obviously incorrect, the airline has the right to cancel the booking, offer a refund, or offer a new fare at the correct price.
For those who took advantage of the ticketing error, the party can still get started in the luxury of business class.
Taylor Swift, Temu and Crocs - what Aussie kids are saving for
Research by pocket money app Spriggy has revealed what a money-savvy bunch Aussie kids are.
The nation's children collectively earned $225.6 million in pocket money and rewards for good behaviour last financial year.
Kids are typically asked to complete a few chores to earn pocket money, mainly tidying their room and emptying the dishwasher. But parents also benefited, with 'pampering mum' ranking as one of the top earners for children.
Plenty of grown-ups could learn a thing or two from the nation's 8-year-olds, who topped Spriggy's list of the most frequent savers, managing to grow their savings 1.6 times each month.
What plans do youngsters have for all their cash? Spriggy's findings are a heartwarming reminder of the joys of childhood.
Trending goals over the last financial year included saving for Taylor Swift tickets, spending on Temu and buying a new pair of Crocs.
Unpaid employer super - a $5 billion a year problem
Around 2.8 million Australians are missing out on their full super entitlements, and it could leave them $30,000 poorer in retirement.
The Super Members Council of Australia (formerly Industry Super Australia) says that in 2021-22, employers skipped $5.1 billion worth of compulsory super contributions.
Women, workers in lower-paid jobs and young employees are most impacted. Workers aged in their 20s, who earn less than $25,000 a year, have a one in two chance of having their super underpaid.
The average affected worker missed out on $1800 in employer-paid super each year, which could leave a $30,000 hole in super savings by the time they retire.
The Federal Government has pledged to enact payday super reforms, which will see employer contributions paid when employees receive their wages, but legislation is yet to be introduced to Parliament.
Super Members Council CEO Misha Schubert, says, "Unpaid super locks too many Australians out of the full transformative benefits of the retirement system and leaves people poorer when they retire."
Part of the problem is that unpaid super is often only discovered when a business goes bust. Schubert is calling for the Government's compensation scheme of last resort for workers - the Fair Entitlement Guarantee - to be extended to include super.
The $14 purchase that could cut car insurance premiums by 4%
ABS figures show car insurance premiums have jumped 6.4% over the year to July, making it a leading driver of inflation.
However, there may be a low cost way to dial down the cost.
Compare the Market says around one in five insurers offer discounts to drivers who install a dashcam in their car.
The average discount is around 4.15%, a saving that can come close to winding back the latest premium hike.
According to Compare the Market, dashcams can be purchased online for as little as $14. Not only can they help lower premiums, a dashcam can also provide handy evidence if you need to make a claim.
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