Aussies urged to check their energy plans as rebates end

Checking your power plan just became a priority, Elon Musk set to become world's first trillionaire, and the smart strategy Aussies are using to pay festive bills. Here are five things you may have missed this week.

Australian energy rebates come to an end

It was great while we had them, but this week saw Federal Treasurer Jim Chalmers announce the end of electricity rebates.

The $75 quarterly discount for all households will end in December.

According to Chalmers, three rounds of rebates have cost the Commonwealth almost $7 billion, with the states and territories kicking in another $1.5 billion.

The end of rebates makes it critical to take a close look at your power plan and provider to see if you could do better.

Analysis by Econnex shows Tasmanian households pay the nation's highest power bills, averaging $2480 annually.

Victorians pay the lowest energy bills, averaging $1675 annually.

Head to the Energy Made Easy website to compare different providers and plans. It's a free, independent government service.

Is Elon Musk about to list SpaceX?

The world's richest person - Elon Musk, may be on track to become the first ever trillionaire.

According to a Bloomberg report, Musk looks like he is planning to list his company SpaceX.

If it happens, it will be one of the largest initial public offerings in history, potentially raising $US1.5 trillion ($2.25 trillion).

Of course, the funds raised go to the company, not Musk.

Even so, Musk won't walk away empty-handed as he owns close to half SpaceX's current shares.

SpaceX's various projects including planned flights to Mars, demand vast amounts of capital, and that could certainly make a public listing attractive for the company.

On the other hand, Starlink - SpaceX's internet service, must be something of a cash cow.

Over 6 million Starlink subscribers globally pay upwards of $US99 ($148) each month for internet access.

With no formal announcement from Elon Musk regarding a SpaceX listing, it's a case of watch this space.

Aussies use frequent flyer points to pay for Christmas

With the festive season set to stretch household budgets, Australians are using their airline frequent flyer points to ease the financial pressure.

Virgin Australia's Velocity Points Pulse Report shows that nearly half (49%) of us plan to use frequent flyer points to help cover Christmas shopping, travel and everyday expenses.

And we have plenty of points to work with.

The average airline loyalty member has built up around 58,000 points, contributing to a national total of almost 783 billion in unredeemed reward points.

That's worth roughly $1.9 billion in potential savings waiting to be used on flights, gifts, groceries and more.

Velocity Frequent Flyer CEO Nick Rohrlach says the report highlights a major shift in how Australians think about loyalty programs.

"Members are no longer just thinking about flights - a 40% surge in members earning through non-air partners shows Aussies are turning everyday spending into Christmas gifts," notes Rohrlach.

Could be the season to check your points balance.

An easy way to ditch those pesky subscriptions

Households are spending more on media and entertainment subscriptions than ever before.

That's according to a Deloitte report, which shows average spending on digital entertainment rose 24% from $63 to $78 each month between 2024 and 2025.

It may not sound like much, but it adds up.

Westpac data reveals the bank's customers are spending approximately $6.7 billion annually on subscriptions.

The big spend may not be delivering big value.

One in three (31%) Aussies admit they waste money on duplicate or unused services.

In response, Westpac is introducing a new feature to its banking app that will allow account holders to view - and cancel - subscriptions directly through the Westpac app.

Carolyn McCann, Westpac chief executive of consumer banking, says the feature could be a game-changer for the millions of Australians who are paying for unused subscriptions each month.

"Managing subscriptions can be a real pain. With so many services on auto-renew, it's easy to lose track of what you're paying for," adds McCann.

"Today, customers must contact each subscription company separately to cancel a service. Our new feature will mean they can do it all conveniently from the Westpac app.

The feature will start rolling out to customers in the Westpac app early next year.

Quitting uni doesn't have to mean leaving empty-handed

If 2026 is anything like previous years, close to 270,000 school leavers will enrol in a university degree next year.

Many will find uni isn't for them. Around 15% of students drop out at the end of their first year.

That can mean walking away with zero qualifications and a hefty HECS debt. The first year of a law degree, for instance, can cost over $15,000 in tuition fees alone.

Melbourne's Swinbourne University is changing this, with the launch of Australia's first Undergraduate Certificate of Higher Education Studies.

It's a new formal qualification for those who complete tertiary education but fall short of a degree.

Students who have completed four units of study, including at least two units at Swinburne, will receive the award if they exit before completing a higher degree.

Swinburne's Professor Laura-Anne Bull says, "Leaving university for any reason often comes with a negative stigma, but it shouldn't.

"The traditional educational model of studying a 3- or 4-year higher education degree full-time until graduation is outdated."

Bull adds, "The Undergraduate Certificate of Higher Education Studies meets students where they are and supports their further study and professional development."

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