Whether you're reading a payslip, comparing super funds, investing, or making a complaint, this regularly-updated guide breaks down common and complex financial language so you can understand what really matters.

Bookmark this page (last reviewed July 2026) and use it as your go-to guide to decoding the language of money.

Most searched financial tesarms

A

Account-based pension (ABP)

An account-based pension is a regular income stream purchased with superannuation savings, typically after retirement. It allows retirees to draw down their super while benefiting from investment earnings.

Accrued interest

Accrued interest is the interest that has accumulated on a loan or investment but has not yet been paid or received. It is commonly used in bonds and savings accounts to reflect earnings over time.

Administrative Review Tribunal (ART)

The Administrative Review Tribunal (ART) independently reviews decisions made by Australian government departments, agencies and ministers. It replaces the Administrative Appeals Tribunal (AAT).

Afterpay

Afterpay is a buy-now-pay-later (BNPL) service that allows consumers to purchase items and pay for them in instalments over time. Other BNPL services include Zip, Klarna and Humm.

Aged Care Assessment Team (ACAT)

The Aged Care Assessment Team (ACAT) assesses older Australians to determine eligibility for government-funded aged care services.

Aggregate market value (AMV)

Aggregate market value (AMV) is the total value of all outstanding equity shares, according to the market's evaluation.

Amortisation

Amortisation refers to the gradual repayment of a loan over time through regular payments that cover both principal and interest. It also applies to the depreciation of intangible assets over their useful life.

Annual general meeting (AGM)

Annual general meetings (AGMs) of shareholders are required by law where directors inform shareholders of company performance and future prospects. Shareholders vote on board elections and significant company issues.

Annual leave loading

Annual leave loading is an additional payment (usually 17.5%) made to eligible employees when they take annual leave. It compensates for the loss of potential overtime or penalty rates during leave.

Annual percentage rate (APR)

Annual percentage rate (APR) represents the yearly interest rate charged on loans or earned on investments.

Anti-money laundering/counter-terrorism financing (AML/CTF)

Anti-money laundering/counter-terrorism financing (AML/CTF) refers to regulations aimed at preventing money laundering and terrorism-financing activities.

Asset allocation

Asset allocation is the strategy of dividing investments among different asset categories, such as stocks, bonds and cash. It aims to balance risk and reward based on an investor's goals and risk tolerance.

Asset-test exempt (ATE)

Asset-test exempt (ATE) refers to specific assets that are excluded from means tests used to determine eligibility for government benefits, usually through Centrelink.

Association of Superannuation Funds of Australia (ASFA)

The Association of Superannuation Funds of Australia (ASFA) is the peak policy, research and advocacy body for Australia's superannuation industry.

Attorney-General's Department (AGD)

The Attorney-General's Department (AGD) provides legal services and policy advice to the Australian Government.

Authorised credit representatives (ACR)

Authorised credit representatives (ACRs) are individuals authorised to engage in specified credit activities on behalf of a credit licensee.

Authorised deposit-taking institution (ADI)

Authorised deposit-taking institutions (ADIs) are financial institutions, such as banks and credit unions, that are licensed to accept deposits from the public.

Automatic teller machine (ATM)

An automatic teller machine (ATM) is an electronic banking outlet that allows customers to perform basic transactions without the need for a branch representative. Common functions include cash withdrawals, deposits and balance inquiries.

Australian Banking Association (ABA)

The Australian Banking Association (ABA), formerly the Australian Bankers' Association, is the trade association for the banking industry.

Australian Bureau of Statistics (ABS)

The Australian Bureau of Statistics (ABS) is Australia's national statistical agency, providing data on key aspects of the economy, society and environment.

Australian Chamber of Commerce and Industry (ACCI)

The Australian Chamber of Commerce and Industry (ACCI) is the national voice for Australian businesses and commerce.

Australian Charities and Not-for-profits Commission (ACNC)

The Australian Charities and Not-for-profits Commission (ACNC) is the national regulator of charities.

Australian Competition and Consumer Commission (ACCC)

The Australian Competition and Consumer Commission (ACCC) is the Australian Government's chief competition regulator.

Australian Consumer Law (ACL)

Australian Consumer Law (ACL) prohibits certain business practices and creates various enforceable rights for consumers to ensure they are protected when they buy goods and services.

Australian Council of Social Service (ACOSS)

The Australian Council of Social Service (ACOSS) is a national advocate supporting people affected by poverty, disadvantage and inequality, and the peak council for community services nationally.

Australian Council of Trade Unions (ACTU)

The Australian Council of Trade Unions (ACTU) is the largest peak body representing workers in Australia. It is a national trade union centre comprising 46 affiliated unions and eight trades and labour councils.

Australian Financial Complaints Authority (AFCA)

The Australian Financial Complaints Authority (AFCA) is a free and independent ombudsman service that resolves complaints by consumers and small businesses about financial firms.

Australian Financial Counselling and Credit Reform Association (AFCCRA)

The Australian Financial Counselling and Credit Reform Association (AFCCRA) was an organisation advocating for financial counselling and credit reform in Australia. AFCCRA changed its name to Financial Counselling Australia (FCA) in 2011.

Australian Financial Markets Association (AFMA)

The Australian Financial Markets Association (AFMA) is the industry body representing participants in Australia's financial markets and providers of wholesale banking services.

Australian Financial Services Licence (AFSL)

An Australian Financial Services Licence (AFSL) is a licence given by ASIC that allows people or companies to legally carry on a financial services business. This includes selling, advising or dealing in financial products.

Australian Government Disaster Recovery Payment (AGDRP)

The Australian Government Disaster Recovery Payment (AGDRP) is a one-off financial assistance payment for people affected by major disasters.

Australian National Audit Office (ANAO)

The Australian National Audit Office (ANAO) audits government agencies to ensure accountability and transparency.

Australian Prudential Regulation Authority (APRA)

The Australian Prudential Regulation Authority (APRA) is the prudential regulator of the financial services industry. It oversees banks, mutuals, general insurance and reinsurance companies, life insurance, private health insurers, friendly societies, and most members of the superannuation industry.

Australian real estate investment trust (A-REIT)

An Australian real estate investment trust (A-REIT) is an unlisted Australian wholesale property fund which allows investors to invest in large commercial property assets.

Australian Securities and Investments Commission (ASIC)

The Australian Securities and Investments Commission (ASIC) is Australia's corporate, markets and financial services regulator.

Australian Securities Exchange (ASX)

The Australian Securities Exchange (ASX) is an integrated securities exchange which acts as a market operator, clearing house and payments system facilitator.

Australian Small Business and Family Enterprise Ombudsman (ASBFEO)

The Australian Small Business and Family Enterprise Ombudsman (ASBFEO) is an independent advocate for small business owners.

Australian Taxation Office (ATO)

The Australian Taxation Office (ATO) is the principal revenue collection agency of the Australian Government. It is responsible for administering and enforcing tax laws, managing the superannuation system, and overseeing the Australian Business Register.

Australian Trade and Investment Commission (Austrade)

The Australian Trade and Investment Commission (Austrade) is a government agency that helps Australian businesses export products and services and attract international investment to Australia.

Australian Transaction Reports and Analysis Centre (AUSTRAC)

The Australian Transaction Reports and Analysis Centre (AUSTRAC) is the Australian Government agency responsible for detecting, deterring and disrupting criminal abuse of the financial system to protect the community from serious and organised crime.

Australian Workplace Equality Index (AWEI)

The Australian Workplace Equality Index (AWEI) is the national benchmark for LGBTQ+ workplace inclusion in Australia that surveys employees to gauge the overall impact of inclusion initiatives.

B

Balance sheet

A balance sheet is a financial statement that shows a company's assets, liabilities, and equity at a specific point in time. It provides a snapshot of financial health and is used to assess liquidity and solvency.

Basis point (BPS)

A basis point is one-hundredth of a percent (0.01%). It's used to show small changes in interest rates or investment returns.

Bear market

A bear market is when share prices fall 20% or more from recent highs. It often signals a downturn or negative investor sentiment.

Beneficiary

A beneficiary is a person or entity entitled to receive benefits from a financial product, such as a superannuation fund, insurance policy, or will. They are designated by the account holder or policy owner.

Blue-chip stocks

Blue-chip stocks are shares in large, reputable companies with a history of stable earnings and reliable performance. They are considered lower-risk investments and often pay regular dividends.

Budget deficit

A budget deficit happens when spending is higher than income. Governments often run deficits when expenses exceed tax revenue.

Bond

A bond is a fixed-income investment where an investor lends money to an entity (typically government or corporate) for a defined period at a fixed interest rate. Bonds are used to raise capital and are considered relatively stable investments.

Break-even point

The break-even point is the level of sales or revenue at which total costs equal total income, resulting in neither profit nor loss. It's a key metric in business planning and financial analysis.

Broker

A broker is an individual or firm that acts as an intermediary between buyers and sellers in financial markets. Brokers may offer advice and execute trades in exchange for a commission.

Business Activity Statement (BAS)

A Business Activity Statement (BAS) is a form submitted to the ATO to report tax obligations.

Business Council of Australia (BCA)

The Business Council of Australia (BCA) is an industry association that comprises the chief executives of more than 100 of Australia's biggest corporations.

Buy now, pay later (BNPL)

Buy now, pay later (BNPL) payment services such as Afterpay allow customers to pay in instalments over time, instead of paying the full amount upfront.

C

Chartered Accountants Australia and New Zealand (CA ANZ)

Chartered Accountants Australia and New Zealand (CA ANZ) is a professional accounting body with more than 130,000 members in Australia, New Zealand and overseas.

Compound Annual Growth Rate (CAGR)

Compound Annual Growth Rate (CAGR) measures the mean annual growth rate of an investment over time.

Compound interest

Compound interest is interest earned on the initial deposit and the interest already earned (whereas simple interest is only on the principal). For a loan, this means you pay interest on the original loan amount plus any interest that has already been added to your balance.

Comprehensive Credit Reporting (CCR)

Comprehensive Credit Reporting (CCR) provides detailed credit information to lenders for better risk assessment.

Child care subsidy (CCS)

The Child Care Subsidy (CCS) is a government payment that helps families with the cost of approved childcare services.

Cashless debit card (CDC)

The cashless debit card (CDC) was a government program that restricted spending on welfare payments, preventing purchases of alcohol, gambling services and cash withdrawals.

Consumer Data Right (CDR)

The Consumer Data Right (CDR) gives individuals greater control over their personal data, allowing them to share it with trusted service providers, particularly in the banking sector.

Committee for Economic Development of Australia (CEDA)

The Committee for Economic Development of Australia (CEDA) is an independent organisation that promotes economic and social policy reforms to drive Australia's growth and development.

Chief executive officer (CEO)

A chief executive officer (CEO) is the highest-ranking role within an organisation, charged with managing the direction of the company. A CEO is often the public face of the company.

Chief financial officer (CFO)

A chief financial officer (CFO) is the person responsible for managing a company's financial operations and strategy.

Capital gains tax (CGT)

Capital gains tax (CGT) is the tax you pay on profits from disposing of assets including investments, such as property, shares and cryptocurrency.

Clearing House Electronic Sub-Register System (CHESS)

The Clearing House Electronic Sub-Register System (CHESS) is ASX's settlement system and central register for electronic transfer of share ownership and associated cash payments.

Chief information officer (CIO)

A chief information officer (CIO) is the executive responsible for overseeing information technology strategy and implementation.

Chief operating officer (COO)

A chief operating officer (COO) is the executive responsible for overseeing the daily operations of a business. A COO is considered to be second in the chain of command after the CEO.

Certified practising accountant (CPA)

A certified practising accountant (CPA) is a finance, accounting and business professional with a specific qualification. All CPAs are accountants, however not all accountants are CPAs.

Consumer Price Index (CPI)

The Consumer Price Index (CPI) measures household inflation and includes statistics about price changes for categories of household expenditure.

Child Support Agency (CSA)

The Child Support Agency (CSA), which currently operates within Services Australia, helps separated parents manage and receive child support payments for the benefit of their children.

Commonwealth Superannuation Corporation (CSC)

The Commonwealth Superannuation Corporation (CSC) manages superannuation funds for Australian government employees.

Compensation Scheme of Last Resort (CSLR)

The Compensation Scheme of Last Resort (CSLR) provides compensation to eligible victims of financial misconduct who have not been paid, typically because the financial institution involved in the misconduct has become insolvent.

Commonwealth supported place (CSP)

A Commonwealth supported place (CSP) is a subsidised place at an Australian university or approved higher education provider where part of a student's fees are paid by the government.

Chief technical officer (CTO)

A chief technical officer (CTO) is the executive in charge of an organisation's technical operations, opportunities and challenges.

D

Daily accommodation payment (DAP)

Daily accommodation payment (DAP) is an ongoing, non-refundable payment option for aged care residents, covering accommodation costs on a per-day basis.

Defence Housing Australia (DHA)

Defence Housing Australia (DHA) provides housing services to Australian Defence Force personnel, managing and leasing properties across Australia.

Defined Benefit Division (DBD)

A defined benefit division is a superannuation plan where benefits are calculated based on salary and service.

Defined Contribution (DC)

A defined contribution is a superannuation plan where contributions are defined but benefits depend on investment performance.

Department of Veterans' Affairs (DVA)

The Department of Veterans' Affairs (DVA) is a government agency that provides services, support and financial assistance to Australian veterans and their families.

Disability Support Pension (DSP)

The Disability Support Pension (DSP) is a financial support payment for people with a permanent physical, intellectual or psychiatric condition that prevents them from working.

Diversity, equity and inclusion (DEI)

Diversity, equity and Inclusion (DEI) refers to workplace policies and practices that promote representation, fairness and a sense of belonging for all employees.

Dividend Reinvestment Plan (DRP)

A Dividend Reinvestment Plan lets shareholders automatically use their cash dividends to buy additional shares in the same company instead of receiving the money in their bank account. Over time, this can help grow your investment through compounding.

Dollar cost averaging (DCA)

Dollar cost averaging (DCA) is an investment strategy where you invest a fixed amount of money at regular intervals, regardless of market ups and downs.

E

Employee assistance program (EAP)

An employee assistance program (EAP) provides employees with confidential counselling, support and services to address personal and work-related issues.

Earnings before interest, taxes, depreciation and amortisation (EBITDA)

Earnings before interest, taxes, depreciation and amortisation (EBITDA) measures the company's overall financial performance. It is an alternative way of measuring profitability to net income.

External dispute resolution (EDR)

An external dispute resolution (EDR) is a free, independent service for resolving disputes between consumers and financial firms. AFCA is an EDR scheme.

Electronic funds transfer at point of sale (EFTPOS)

Electronic funds transfer at point of sale (EFTPOS) is the electronic payment system that lets customers make a purchase using a credit or debit card or mobile wallet on their phone or a wearable device.

End of financial year (EOFY)

The end of the financial year (EOFY) is June 30, which marks the end of the 12-month fiscal year for business and tax purposes.

Earnings per share (EPS)

Earnings per share (EPS) is a measure of earnings attributed to each equivalent ordinary share over a 12 month period. It is calculated by dividing the company's earnings by the number of shares on issue.

Environmental, social and governance (ESG)

Environmental, social and governance (ESG) criteria are used to evaluate the impact of a company's operations on sustainability, social responsibility and corporate governance.

Exchange traded commodity (ETC)

Exchange traded commodities (ETCs) are exchange traded funds (ETFs) that invest in and track the performance of a commodity such as silver or gold rather than an equity index.

Exchange traded fund (ETF)

Exchange traded funds (ETFs) are investment funds designed to track the performance of an asset such as a share price index.

F

Financial Advice Association of Australia (FAAA)

The Financial Advice Association of Australia (FAAA) is the nation's largest professional association for financial planners.

Financial Claims Scheme (FCS)

The Financial Claims Scheme (FCS) is an Australian Government initiative that protects depositors by guaranteeing up to $250,000 per person per authorised deposit-taking institution (ADI) in the event the institution fails. It also provides limited protection for policyholders of general insurance companies, ensuring quick access to funds during financial distress.

Fringe Benefits Tax (FBT)

Fringe Benefits Tax (FBT) is a tax on non-salary benefits provided to employees.

First Home Guarantee (FHBG)

The First Home Guarantee (FHBG) is a part of the Home Guarantee Scheme that allows eligible first-home buyers to purchase a home with as little as a 5% deposit, without needing to pay for lenders mortgage insurance.

Family Home Guarantee (FHG)

The Family Home Guarantee (FHG) assists eligible single parents to purchase a home with a deposit as low as 2%, even if they have previously owned a home, under the Home Guarantee Scheme.

Fly in, fly out (FIFO)

Fly-in, fly-out (FIFO) refers to a work arrangement where employees travel to a remote job site for a set period before returning home, typically used in the mining industry in Australia.

Financial technology (fintech)

Financial technology (fintech) refers to innovative technologies used to improve and automate the delivery and use of financial services.

FOMO (fear of missing out)

FOMO or the fear of missing out is a feeling of anxiety stemming from the perception that others are experiencing better things than you.

Foreign Investment Review Board (FIRB)

The Foreign Investment Review Board (FIRB) advises the government on foreign investment policy and proposals.

Financial independence, early retirement (FIRE)

Financial independence, early retirement (FIRE) is a lifestyle and investing movement with the goal of gaining financial independence and retiring early.

Financial Services Council (FSC)

The Financial Services Council (FSC) represents Australia's retail and wholesale funds management businesses, superannuation funds, life insurers, financial advisory networks, licensed trustee companies and public trustees.

Family Tax Benefit (FTB)

The Family Tax Benefit (FTB) is a government payment designed to help families with the costs of raising children.

Funds Under Management (FUM)

Funds Under Management (FUM) is the total value of assets managed by an investment firm.

Foreign exchange (FX)

Foreign exchange (FX) refers to the global market for trading currencies, where the exchange rates between different currencies are determined.

G

Generally Accepted Accounting Principles (GAAP)

Generally Accepted Accounting Principles (GAAP) is a standard framework of accounting rules and procedures.

Gross domestic product (GDP)

Gross domestic product (GDP) is the total value of goods and services produced in a country over a specific period, used as an indicator of economic performance.

Global financial crisis (GFC)

The global financial crisis (GFC) refers to the period of extreme stress in global financial markets and banking systems between mid 2007 and early 2009.

General Insurance Code Governance Committee (GICGC)

The General Insurance Code Governance Committee (GICGC) is the independent body that monitors and enforces insurers' compliance with the General Insurance Code of Practice.

Goods and services tax (GST)

The goods and services tax (GST) is a broad-based tax of 10% on most goods, services and other items sold or consumed in Australia.

H

Higher Education Contribution Scheme-Higher Education Loan Program (HECS-HELP)

Higher Education Contribution Scheme-Higher Education Loan Program (HECS-HELP) is a loan from the Australian Government that can be used to pay a student's contribution towards their tertiary studies.

Home Guarantee Scheme (HGS)

The Home Guarantee Scheme (HGS) is an Australian government initiative that helps eligible home buyers purchase a home with a smaller deposit, by providing a guarantee on part of the loan.

Holder identification number (HIN)

I

A holder identification number (HIN) is the unique number issued by the Australian Securities Exchange (ASX) that identifies you as a CHESS-sponsored shareholder with a broker.

Industry superannuation fund

Industry super funds are not-for-profit and return profits to members, generally offering lower fees. Originally for specific sectors, most are now open to everyone.

Insurance Brokers Code Compliance Committee (IBCCC)

The Insurance Brokers Code Compliance Committee (IBCCC) monitors adherence to the Insurance Brokers Code of Practice to help insurance brokers deliver high-quality service standards to consumers.

Insurance Council of Australia (ICA)

The Insurance Council of Australia (ICA) is the representative body for the general insurance industry.

International Energy Agency (IEA)

The International Energy Agency (IEA) is an international organisation currently consisting of 31 countries and 13 association countries, which provides policy advice and promotes energy security.

International Monetary Fund (IMF)

The International Monetary Fund (IMF) is an international organisation that promotes global financial stability and provides financial assistance to countries facing economic difficulties.

Interest-only loan (IO)

An interest-only loan (IO) allows the borrower to pay only the interest on the loan for a specified period, after which they must start repaying the principal along with the interest.

International Organisation of Securities Commissions (IOSCO)

The International Organisation of Securities Commissions Global (IOSCO) is the body of securities regulators promoting market integrity.

Initial public offering (IPO)

An initial public offering (IPO) is the process by which a private company offers shares to the public for the first time, allowing them to become publicly traded.

K

Key performance indicator (KPI)

A key performance indicator (KPI) is a metric used to evaluate success in achieving objectives.

Know your customer (KYC)

Know your customer (KYC) refers to the process by which businesses verify the identity of their clients to prevent fraud, money laundering and other financial crimes.

L

Least-cost routing (LCR)

Least-cost routing (LCR) is a payment processing method that allows businesses to process transactions through the network that charges the lowest fee.

Low exercise price options (LEPO)

Low exercise price options (LEPOs) are European-style options with a strike price of 1 cent, in the case of stock LEPOs, or 1 point, in the case of index LEPOs.

Listed investment company (LIC)

Listed investment companies (LICs) provide exposure to a basket of underlying securities, often shares, although increasingly there are funds providing exposure to other asset classes, such as fixed income.

Lenders mortgage insurance (LMI)

Lenders mortgage insurance (LMI) is a type of insurance paid by the borrower that protects the lender if the loan defaults.

Loan-to-value ratio (LVR)

The loan-to-value ratio (LVR) is a measure used by lenders to assess the risk of a loan, calculated by dividing the loan amount by the appraised value of the property, expressed as a percentage.

M

Market darling

A market darling is a stock or company that is highly favored by investors and analysts, often due to strong performance, growth potential, or positive sentiment.

Medicare levy surcharge (MLS)

The Medicare levy surcharge (MLS) is an additional tax for high-income earners in Australia who do not have private hospital cover.

Memorandum of understanding (MOU)

A memorandum of understanding (MOU) is a type of agreement between two or more parties.

N

Net asset value (NAV)

Net asset value (NAV) is the book value of a company's assets divided by the number of shares on issue.

National Credit Code (NCC)

The National Credit Code (NCC) is a national consumer protection regime that offers protections to individuals borrowing money from institutional lenders for non-business purposes.

National Debt Helpline (NDH)

The National Debt Helpline (NDH) is a free, independent and confidential financial counselling service.

National Disability Insurance Scheme (NDIS)

The National Disability Insurance Scheme (NDIS) provides funding and support to Australians with a permanent disability to help them live independently.

Negative gearing

Negative gearing is when your investment property costs more to run than it earns in rent, creating a taxable loss. You can usually offset that loss against your other income, reducing your overall tax bill.

Net flows

Net flows are the total money moving into or out of an investment fund over a period. Positive net flows mean more money is coming in than going out; negative means the opposite.

Non-fungible token (NFT)

Non-fungible tokens (NFTs) are a type of digital cryptoasset. They are digital certificates that authenticate a claim of ownership to an asset, and allow it to be transferred or sold.

No interest loans (NILS)

No interest loans (NILs) are safe and affordable interest-free loans that Australians at risk can use to pay for essentials such as appliances or rental bonds.

Net tangible assets (NTA)

Net tangible assets (NTAs) are calculated as the total assets of a company, minus intangible assets such as goodwill and less all liabilities.

O

Organisation for Economic Co-operation and Development (OECD)

The Organisation for Economic Co-operation and Development (OECD) is an international organisation, currently with 38 member countries, that aims to promote policies to improve the economic and social well-being of people worldwide.

Owner-occupied (OO)

Owner-occupied (OO) refers to a property that is the primary residence of the borrower, as opposed to an investment property.

Open Training and Education Network (OTEN)

The Open Training and Education Network (OTEN) is a provider of online and distance education and training across a variety of industries and fields offered by TAFE NSW.

Open Universities Australia (OUA)

Open Universities Australia (OUA), previously called the Open Learning Agency of Australia, offers online courses from a range of Australian universities, providing flexible education options for students.

P

Principal and interest loan (P&I)

A principal and interest loan (P&I) requires the borrower to make payments on both the loan principal and the interest charged on the outstanding balance over the term of the loan.

Pay As You Go (PAYG)

Pay As You Go (PAYG) is a system for paying income tax in installments throughout the year.

Product disclosure statement (PDS)

A product disclosure statement (PDS) is a document that financial service providers must provide to you when they recommend or offer a financial product.

Price-to-earnings ratio (PE)

Price-to-earnings ratio (PE) is the number of times the price covers the earnings per security over a 12-month period. Investors commonly use this ratio to measure the attractiveness of particular shares and to compare shares in one company with those in another.

Property Exchange Australia Limited (PEXA)

Property Exchange Australia Limited (PEXA) is a digital property settlement platform that allows for the online completion of property transfers and settlements.

Payment reference number (PRN)

A payment reference number (PRN) is a unique set of numbers and letters applied to a financial transaction such as a bank transfer, direct debit, a standing order or a payment made using a debit or credit card.

R

Real estate investment trust (REIT)

Real estate investment trusts (REITs) provide exposure to the value and rental income from properties owned by the trust.

Refundable accommodation deposit (RAD)

The refundable accommodation deposit (RAD) is a lump sum payment for accommodation in an aged care facility, which is refunded when the resident leaves or dies.

Regional First Home Buyer Guarantee (RFHBG)

The Regional First Home Buyer Guarantee (RFHBG) helps first-time home buyers purchase a home in regional areas of Australia with a reduced deposit, as part of the Home Guarantee Scheme.

Reserve Bank of Australia (RBA)

The Reserve Bank of Australia (RBA) is Australia's central bank and banknote-issuing authority.

Retail superannuation fund

Retail super funds are run by financial institutions for profit, often with a wide range of investment options. They typically charge higher fees and may include adviser commissions.

Return on Equity (ROE)

Return on Equity (ROE) is a measure of financial performance calculated as net income divided by equity.

Return on Investment (ROI)

Return on Investment (ROI) is a performance measure used to evaluate efficiency of an investment.

S

Safe withdrawal rate

A safe withdrawal rate (SWR) is the percentage of your super or investment portfolio that you can withdraw each year in retirement while aiming to make your savings last over the long term. It is commonly used to help retirees balance income needs with the risk of running out of money.

Salary sacrifice

Salary sacrifice is an arrangement where you ask your employer to direct part of your before-tax salary into your super account. This reduces your taxable income and increases your concessional super contributions.

Software as a service (SAAS)

Software as a service (SaaS) is a distribution model used to license and deliver software applications over the internet.

Superannuation guarantee (SG)

The super guarantee (SG) is the minimum amount of super employers must pay to their employees. The SG rate is 12% as of July 1, 2025.

Small and medium-sized enterprise (SME)

Small and medium-sized enterprises (SMEs) are businesses with a relatively small numbers of employees and lower revenue compared with large corporations.

Self-managed super fund (SMSF)

A self-managed super fund (SMSF) is a private financial structure for saving for retirement.

Society for Worldwide Interbank Financial Telecommunication (SWIFT)

The Society for Worldwide Interbank Financial Telecommunication (SWIFT) is a global messaging network used by banks and financial institutions to securely send and receive information about financial transactions.

Stagflation

Stagflation is an economic environment where inflation remains high while economic growth slows and unemployment rises. It can put pressure on households, businesses and investors as living costs increase, but the economy struggles to gain momentum.

T

Target market determination

A target market determination (TMD) is a document that clearly outlines which group of people a specific financial product is best suited for, based on their goals, financial situation, and needs. It also explains how the product should be marketed and sold, and when it will be reviewed to ensure it remains appropriate.

Tax file number (TFN)

A tax file number (TFN) is a unique number issued by the Australian Taxation Office (ATO) to individuals and organisations.

Term account

For an investor, a term account generally refers to a structured investment in a loan or credit facility with a fixed maturity date, where the investor provides capital to a borrower (usually a private company) and earns returns over a defined period. Private credit term accounts are not guaranteed under the Australian Government's Financial Claims Scheme (FCS).

Term deposit (TD)

A term deposit is a type of savings account offered by banks and financial institutions where you deposit a fixed amount of money for a set period of time (the "term") at a predetermined interest rate. Term deposits are guaranteed under the Australian Government's Financial Claims Scheme (FCS), provided they are held with an Authorised Deposit-taking Institution (ADI).

Ten-bagger

A ten-bagger stock is an investment that grows to be worth ten times the price you paid for it. It's investor-speak for a rare, home-run stock that delivers massive long-term returns.

Total and permanent disability (TPD)

Total and permanent disability (TPD) insurance cover pays a lump sum if you become totally and permanently disabled.

Transition to Retirement (TTR)

Transition to Retirement (TTR) is a strategy allowing access to super while still working.

V

Vocational education and training (VET)

Vocational education and training (VET) provides workplace skills, technical knowledge and qualifications for rewarding jobs and careers.

W

Work health and safety (WHS)

Work health and safety (WHS) refers to regulations, policies and practices that ensure the health, safety and welfare of employees in the workplace.

Wage price index (WPI)

The wage price index (WPI) measures changes in the cost of wages and salaries over time in Australia.

Why this glossary matters

What is the purpose of this financial terms glossary?

This glossary helps readers decode common financial terms and jargon used in banking, investing, superannuation, insurance, and financial media. It's designed to make financial literacy more accessible to everyone.

Who should use this glossary?

Anyone looking to better understand financial terms - whether you're a student, investor, professional, or simply trying to make sense of your bank statements or super fund reports.

How often is the glossary updated?

The Moneymag.com.au team updates this glossary regularly to reflect changes in financial regulations, emerging industry terms, and reader feedback.

Where can I learn more about personal finance topics?

Visit Moneymag.com.au for expert articles, guides, and news on budgeting, investing, superannuation, tax, and more.

Can I suggest a financial term to be added?

Yes! If you notice a missing acronym or term, you can contact the editorial team via the website's contact form.

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Absolutely. Each acronym is explained in plain English, making it easy for beginners to understand complex financial concepts.

Why is understanding financial terms important?

Finance terms are everywhere - from your payslip to your investment portfolio. Knowing what they mean helps you make informed decisions and avoid costly mistakes.

Every week, more than 1.5 million listeners tune in to the Kyle & Jackie O commercial breakfast radio show on KIIS FM, to hear a variety of chat, music and, of course, the all-important, revenue-building advertising.

The listeners hear the duo joke about - and graphically describe - a range of crude and, at times, harmful topics.

Among these listeners is a group who call themselves Mad F***** Witches (MFW).

What is Mad F***** Witches and what was the #VileKyle campaign?

This group is not listening for enjoyment, they are taking note of sexist, misogynist, racist and homophobic content. Most, importantly they are noting companies that advertise on the show.

The activist group's followers then email these companies to bring their attention to the objectionable content and lobby them to stop spending their advertising budget on the show.

MFW calls it the #VileKyle campaign. It's an example of a new type of group that is forgoing boycotts to trigger change; instead they employ the power of finance.

The idea being that if enough advertisers pull their spots from the Kyle & Jackie O show, it will reduce network owner ARN Media's radio advertising revenue to the point where they are left with no choice but to take 54-year-old Kyle Sandilands off air.

"Kyle is degrading to women and people in minority groups; he speaks in a degrading, bullying manner to pretty much anyone who's not a straight white male," says Jennie Hill, the founder of MFW.

"I don't have any idea whether he's a physically violent man, and would obviously never accuse him of that, but what he does is verbally violent and it validates the violence that men who are prone to physical violence will commit."

Why advertisers targeted Kyle & Jackie O

There are numerous examples of the sort of content MFW objects to. While chatting to Jackie 'O' Henderson, Sandilands makes regular references to sexual violence towards women, incest, fat-shaming, homophobic slurs and more.

Money is reproducing one example here so readers can understand the context of the #VileKyle campaign: reacting to criticism about his since-cancelled TV show from journalist Alison Stephenson, Sandilands called her "a fat slag", commented on the size of her breasts and threatened to hunt her down.

Some of the content is simply puerile: Sandilands talks about eating a Magnum ice-cream while on the toilet and "holding it in" (this content is promoted on the KIIS YouTube channel).

Hill says MFW doesn't object to puerile content in general, it's the harmful content it is targeting. It's worth nothing that more than 200,000 children and teenagers listen to the show in Sydney alone.

The uncomfortable truth is, however, that it is Sandilands' and Henderson's crudeness that attracts listeners. And that large number of listeners in turn attracts advertisers.

"Kyle and Jackie O have been like they've been for well over a decade and they've been wildly successful. They haven't needed to change," says Chris Walton, managing director of Nunn Media, which buys advertising space on behalf of companies.

Any change to the content or the line-up will be driven by commercial imperatives, not a lobbying campaign, he says. If the MFW campaign ever got to the point that it began to impact commercials, then it would be taken into consideration.

Kyle & Jackie O's Melbourne expansion and ratings battle

Last year the show started broadcasting on KISS 101.1 in Melbourne, in what was to be the first step in a push to syndicate the show around the country.

Ratings were disappointing, which commentators said was because the sort of crude content that attracts Sydney audiences turned off the more refined Melburnians.

But the latest radio ratings survey suggested that the show might have turned the corner in the southern capital, with ratings starting to improve, dashing hopes among detractors that the pair would have to retreat from Melbourne or tone down their content.

In fact, ARN is making a virtue of the crude content and in May launched an advertising blitz for the hosts in Melbourne with the theme 'Radio Gone Rogue!'.

How much advertising revenue is at stake for ARN Media

At stake are many hundreds of millions in advertising revenue.

ARN Media earned more than $300 million from radio advertising in 2024, and would earn significantly more should the national syndication plan succeed.

Much of this comes down to Sandilands and Henderson, and their pay reflects it. They are on a 10-year contract said to be worth $200 million.

At the same time, ARN Media is implementing what it calls a businesses transformation program to reduce its costs by $40 million a year.

The cost cutting has done little to help ARN Media's share price, which has slid from $2.20 at the end of 2021 to 51 cents at the end of May this year.

How many advertisers left Kyle & Jackie O?

Hill points to the cost-cutting program in her estimate that MFW has cost ARN Media $30 million to $40 million in lost advertising revenue.

MFW publishes a list with the names of several hundred businesses that it says no longer advertise on the Kyle & Jackie O show.

However, Hill acknowledges that the list may contain errors and that companies might have stopped advertising on the show for reasons other than the MFW campaign.

This is MFW's claimed list of new and returning advertisers, released recently:

 

 

 

 

View this post on Instagram

 

 

 

 

 

 

 

 

 

 

 

A post shared by MFW (@mfwitches)

What major brands said about advertising on the show

Most of Australia's big businesses don't want their name associated with MFW in any way.

Of more than a dozen enquiries sent to major corporates, only a couple supplied an 'on the record' comment - that is, a statement they are happy to put their name to.

Among the major banks, only NAB responded, saying: "The placement of our advertising campaigns is dynamic and constantly changing as we seek to meet our customers' needs. We continually work with our agency and media buying partners to ensure the integrity of our brand and to position our advertising where are customers consume their media."

It did not dispute MFW's claim that it doesn't advertise on the Kyle & Jackie O show.

Westpac, Commonwealth Bank and ANZ didn't respond.

However, in an email to an MFW supporter who had asked the bank to reconsider its advertising expenditure given its 'inappropriate content', ANZ wrote that the Kyle & Jackie O show is on its brand exclusion list.

The bank explained that some of its 'bonus' slots - where the radio network plays their ads for free - weren't filtered to ensure that they didn't appear on the show. ANZ said it had contacted ARN about the issue.

It's not just the big banks that don't want to comment on MFW.

Qantas and Virgin didn't respond to enquiries, nor did Optus.

Telstra supplied a statement: "We stopped advertising on the program in August 2024 as the content didn't align with our brand."

Woolworths and Coles also didn't respond, although Coles has emailed an MFW supporter to say it will not advertise during the Kyle & Jackie O show.

Has the campaign actually hurt ARN Media?

Steve Allen is a media analyst at Pearman, a media agency that buys advertising space on behalf of companies.

The suggestion that MFW has cost ARN up to $40 million is fanciful, he says, and questions whether they have cost ARN any revenue at all.

There is, Allen says, no doubt that some companies are concerned when contacted by MFW. They then tell ARN they don't want their advertisements to appear when Sandilands is on air or ask their media agency to tell ARN.

But the advertising spots taken out of the breakfast timeslot are usually placed elsewhere in the KIIS FM or other stations' schedules.

"When they get the call from us, the last thing they're going to do is let go of dollars," Allen says of ARN Media.

"They're sympathetic to the plight that advertisers find themselves in and the simplest and easiest commercial way is to reschedule."

And while MFW's campaign is generating headlines and making advertisers take note, Allen also doubts that it will result in the pair toning down their content because, ultimately, it's the ratings that count.

MFW's Hill argues, however, that if organisations are taking their advertisements out of the four-hour prime time KIIS breakfast spot, there is only so much other prime-time broadcasting they can go into instead, and that many organisations have pulled their advertisements from the network altogether.

ARN Media did not provide an executive to interview and instead responded in writing to questions.

The company didn't directly address questions on the effect the #VileKyle campaign has had on its revenue, instead saying it has a strong and stable advertiser base, "with partners continuing to achieve great results across our platforms".

The broadcaster acknowledged that the Kyle & Jackie O show "may not be for everyone", but said its enduring success lies in its ability to resonate with a large portion of everyday Australia.

"Radio is subject to robust regulations. The same can't be said for social media, and some of the personal attacks and radical views held within these activism groups are deeply concerning," ARN Media said.

On activist groups in general, the broadcaster said they "pick fights" with radio personalities to increase their own relevance.

"These groups are prone to overstating their impact, and they don't dictate our strategy or programming. We are focused on the millions of loyal fans who enjoy our content and the advertisers that get quality results," ARN said.

Who is Jennie Hill, founder of Mad F*** Witches?**

MFW came about in 2016, after then Minister for Immigration and Border Protection Peter Dutton referred to political journalist Samantha Maiden as a 'mad f#$$!!$ witch' in a text message and mistakenly sent the message to Maiden herself.

The name resonated with Hill and she started what she describes as a "silly little Facebook page". It now has 90,000 followers on Facebook and tens of thousands on other social media sites.

Some followers contribute $5 to $10 per month to MFW's $120,000 revenue, which it uses to pay five part-time workers around $25,000 each, including Hill, who refers to herself as an accidental activist.

She says she is embarrassed by the swearing in her group's name and still cringes when she hears it, but says it also carries an important message because it has not traditionally been acceptable for women to swear, and that by swearing without apology women are taking back their power.

Three years after she formed MFW, she heard an interview with then Prime Minister Scott Morrison, during which bombastic Sydney radio host Alan Jones said Morrison should "shove a sock down [New Zealand Prime Minister Jacinda Ardern's] throat". He followed it by saying the PM should give her "a few backhanders".

"[MFW] didn't really want to start a campaign, but the pressure from our followers was intense," says Hill.

"I was working in a successful career at that time, had run my own business for 30 years, so I wasn't looking for anything like that."

Inspired by campaigns overseas, Hill and her supporters drew up a roster to listen to the Alan Jones Breakfast Show and make a note of the advertisers. The supporters then emailed the advertisers to say they were unhappy with the content, urging them to pull their ads.

In May 2020, Jones announced his retirement from his role at 2GB and the following year Sky News Australia announced it would not be renewing Jones' contract.

MFW was widely credited for ending Jones' media career.

Hill made herself available to Money for two interviews to answer any questions, including claims from companies whose advertising MFW targets (who asked that their names not be used).

These included claims that MFW is an extremist group.

"We're only extremists because we're women," she says, adding that pro-nuclear, tax cuts and policies seeking to control women's bodies are more extreme.

MFW has been accused of bullying individuals, such as receptionists or customer service people who work for the advertisers.

However, sending them examples of the offensive content is an important part of MFW's campaign strategy.

Hill says MFW is sorry for upsetting these people, but considers it hypocritical that MFW is being criticised when these companies are supporting offensive content.

Commenting on the #VileKyle campaign, she says: "What I work for now is just trying to make the world a bit better for other women," she says.

SBS cycling commentator Bridie O'Donnell will be joining the broadcast team for the 2026 Tour de France which kicks off on July 4.

O'Donnell is a world champion road cyclist, a former rower, and triathlete.

She is also a medical doctor, graduating valedictorian from the University of Queensland, and now focuses on helping cancer patients with behavioural changes to help improve their overall wellbeing.

She was the inaugural director of Victoria's Office for Women in Sport and Recreation.

How was working on last year's Tour de France coverage?

I found it to be quite a wonderful experience.

I was working in Victoria as a doctor in a secondment role in COVID recovery and was working with companies and industries that were very frustrated and angry.

So being part of the coverage team was like a holiday.

I felt like I was in France.

Commenting is a challenge - you have to give the right balance of what the audience wants to hear, not just how smart you are and how much information you know, but how you make it as interesting as possible.

I had ridden many parts of France as a guest on cycling tours so I'm quite familiar with the countryside.

How did you get into cycling?

I came to cycling late.

I had been a rower and triathlete and came into road cycling in 2007.

It took me until my fourth or fifth year in medical school to race triathlons and realise I had capability.

I discovered a friend in med school was doing triathlon and I wasn't good at it but just loved it and realised that endurance sport is about persistence and not falling down or giving up which is a metaphor for life.

You're going to fail at things all along the way but you figure out what went wrong and keep going.

I was 33 years old when I started. It's not a recommended pathway to start late. I rode in the Australian national team and was a professional cyclist for six years.

I then rode and managed a team here in Australia and helped develop domestic riders.

I moved back to track racing and set a new record for women in 2016 (the Women's Hour road race) and kept racing in the individual pursuit and team pursuit in Victoria.

What was your first job?

Cleaning the leaves out of the gutters for my grandfather for $5 for three hours work on a Saturday.

I then started offering my service to the neighbours.

I was around six years old and I probably shouldn't have been on the roof, but that was the 80s.

It felt like a job because I'd approached my grandfather and said, "How about you pay me $5 and I can do this for you?" It was a real negotiation.

My first job after that was working in Donut King in the Myer centre food court in Brisbane - I was 14.

What's the best money advice you've received?

From my mum: "All women should have a running away account."

It's important and sound to have your own bank account. We're seeing more examples of coercive control in abusive relationships.

If you can have independence, it gives security that you can get into a car and leave a dangerous relationship, so that is advice I'd pass onto every woman I know.

"All women should have a running away account."

What's the best investment decision you've made?

To put solar panels on my roof - but not sure it's working out to be as remunerative as I hoped.

I might need to buy a battery. It's saved an enormous amount on electricity bills.

I've also bought a hybrid car and I feel lucky I have a stable job to make those purchases and know they will pay off in the future.

What's the worst investment decision you've made?

Other than getting married and divorced, I would say I don't make too many poor choices!

I'm pretty risk-averse. I've never had a lot of money so I'm pretty careful - I don't gamble or have investments other than property.

What is your favourite thing to splurge on?

Food and wine and experiences.

One of the upsides of finishing each cycling season in Europe is the opportunity to take a couple of weeks holiday there - I went to Lucca in Italy and Berlin with my mum.

There was one experience where we were staying in Antibes near Cannes and went to an incredible restaurant - Bacon - and the owners picked us up on Vespas and rode us around on the way to the restaurant.

It was an incredible meal and an amazing vista.

If you had $10,000 where would you invest it?

I'd buy some Aboriginal art.

There are some incredible artists I saw in the Northern Territory last year; I think it's important to invest in artists but also important to make sure Aboriginal artists are making money from their art from reputable galleries.

What would you do if you only had $50 left in the bank?

I think I'd go to DOC Pizza in Carlton [in Victoria], have a nice bottle of wine, and then celebrate my financial demise.

Do you intend to leave an inheritance?

Yes, I have two nieces and a goddaughter, and they're recipients of my super, and I will leave my property to my two nieces.

What's been your best money-making career move?

Completing a vocational degree in university which provides stability that I never realised.

When I retired from pro-cycling, I could go back to being a doctor and have money go into my bank account every fortnight.

It was a privilege not many other riders have.

I didn't do it for the money.

Since I was a child, I've only ever wanted to be a doctor. I saw it as an interesting and cool way to solve problems for people.

It's a great job and I still use those skills even when I'm not working clinically, because it's about understanding human behaviour and bringing it all together to find an answer.

Finish this sentence: money makes ...

... the hard things less difficult.

This article was first published in 2021 and refreshed in June 2026.

My annual income averages out to approximately $45,000.

The few thousand dollars I have in savings is always stored and calculated carefully and I am always on a budget.

There is a very clear reason why I'm in this financial position: endometriosis and the resulting chronic pelvic pain that has left me disabled.

For me, those numbers aren't abstract, they shape every financial decision I make.

The hidden cost of endometriosis

While the physical symptoms of endometriosis are becoming more widely known - and, thankfully, are starting to be diagnosed earlier - what is less commonly discussed is the economic impact the condition carries.

Endometriosis - a chronic pain condition that can cause infertility and organ dysfunction - causes tissue similar to the uterine lining to grow outside of the uterus.

According to Endometriosis Australia, it affects more than 830,000 Australian people during their lifetime (approximately 11% of the population assigned female at birth).

Endometriosis Australia cites an Australian government study showing endometriosis costs Australia $9.7 billion per year - $2.5 billion coming from direct healthcare costs, the remaining assigned to loss of productivity.

How a $30,000-a-year illness breaks budgets

At the personal level, a study published in PLOS ONE found that the average cost to those diagnosed is close to $30,000 per annum.

It's a figure that doesn't surprise me given I'm affected by both the direct and indirect costs of the condition every day.

When your career shrinks with your health

Prior to a rapid decline in my health in 2017, I was working full-time in a high-stress job.

My annual income was $65,000 with pathways to grow my role both in scope and pay.

I was incredibly fortunate to have a sympathetic employer who paid out my contracted entitlements (both sick leave and annual leave) so that I could remain financially afloat while I recovered from a stint in hospital, and then redesigned my role so that I was able to return to work part-time.

Freelancing gives flexibility, but no safety net

Four years later, I now work in a freelance capacity.

This allows me to work from home, which is not only easier on my body but also helps to protect my compromised immune system.

With this decision, however, means a relinquishing of key protections such as sick leave.

If the work dries up or if I fail to get government grants for certain projects, I am immediately vulnerable to sliding into poverty and homelessness.

For many of us not yet eligible for the Disability Support Pension, JobSeeker often falls short for disabled and chronically ill people who are unable to maintain consistent work.

The stress of this precariousness sits with me on a daily basis and contributes to the mental costs of living with disability and chronic illness.

The bills that never stop

Then there are the direct health costs.

I need to see a GP who specialises in women's health, so I'm unable to access doctors who bulk bill. The gap in standard appointments is $41.05; for longer appointments it is $68.95.

I see her roughly every six weeks.

I see a specialised psychologist who is trained in health and pain management, as well as trauma. This is a key combination of skills that is essential to my ongoing health and welfare.

I can only see her as a private patient, so each appointment covered by Medicare's mental health care plan carries a gap of $120.

During COVID-19, the number of subsidised psychology sessions temporarily increased from 10 to 20 per year.

That has since been rolled back to 10, meaning I still have appointments where I pay the full rate of $200.

Costs that are incurred with less regularity yet are still essential include appointments with my gynaecologist (the gap ranging from $93.45 to $192.25), pelvic ultrasounds (a gap of $249) and pain medications -the cost and rebate of pain medications vary greatly and not all fit within the PBS.

Why private health isn't optional

Finally, a key cost that is non-negotiable for many with endometriosis is private health insurance .

My policy carries a gap of $150.18 per month. Despite my low income this is something that I must prioritise - without it I face lengthy wait times in public hospitals due to surgery for endometriosis deemed to be elective.

Increasingly, more patients are being forced to "self-insure" by paying the full cost of the surgery (after Medicare rebates) to avoid the current wait times, which can stretch from months to years, depending on the public system and urgency.

Medibank quotes a laparoscopy as costing from $5546, which, even with private health cover, requires $785 from the patient (combining the excess with the out-of-pocket cost) and does not include the cost of the anaesthetists.

This also does not take into account more complex cases or complications.

The cost no one can see

The economic costs of endometriosis are of course only one facet of the disease - there are also the social and mental costs that I value more than the missed professional development opportunities and promotions.

Endometriosis hasn't just affected my health, it has taken away my financial safety net. And that's the cost I fear most.

First published April 2021. Last updated June 2026.

The 2026 FIFA World Cup has kicked off, and the money headlines are staggering.

Hosted by Canada, Mexico and the United States, the 2026 World Cup will feature an expanded lineup of 48 teams, including debutants Cape Verde, Curaçao, Jordan and Uzbekistan.

Whichever way you look at it, the scale of football's crown jewel is immense.

Consider the audience, for one. FIFA estimates that five billion people engaged with the 2022 Qatar World Cup across various media forms, with 1.42 billion tuning in to the final.

So what about the money? With massive audiences, lucrative broadcast and advertising deals and some of the world's richest athletes on show, the World Cup is full of staggering figures.

So, before the action on the pitch really ramps up, here are some financial facts to impress your football-watching friends during the tournament.

Note: All figures have been converted into Australian dollars unless otherwise indicated.

How much are 2026 World Cup tickets?

Unsurprisingly, the World Cup has created controversy well in advance of the tournament itself, with ticket prices being one of the biggest grievances for fans.

Despite the tournament kicking off tomorrow, there are still plenty of unsold tickets. Given that, fans might think that they'll be able to score a last-minute bargain, but that's not the case.

Take Australia's first game against Türkiye this weekend. The cheapest seats available on the FIFA website are going for US$380 ($543.16) while the most expensive are US$1170 ($1672).

That's just for a group stage game. Tickets for the semi-final being held in Dallas next month will set fans back between US$2705 ($3866) and $US11,130 ($15,910).

How much money will FIFA make from the 2026 World Cup?

Given the huge audience it attracts, it's not surprising that the World Cup is a significant revenue generator for world football's governing body.

The sale of rights for the 2022 World Cup in Qatar generated roughly $9 billion for FIFA, with broadcasting and marketing deals making up the largest share of revenue.

Given the expanded nature of the 2026 World Cup - which will feature an additional 40 matches - that figure is set to be smashed.

While the final figure won't be confirmed until after the tournament, FIFA is projecting revenue of US$8.9 billion ($12.7 billion) for 2026 alone - the bulk of which will come from the World Cup.

Who are the highest paid players at the 2026 World Cup?

While there's likely to be plenty of ultra-wealthy individuals in the stands, Forbes reports that, for the first time, two billionaires are set to take the field at the World Cup.

These, of course, are two of the greatest - and now wealthiest - players to play the game: Portugal's Cristiano Ronaldo and Argentina's Lionel Messi.

Despite being in the twilight of their careers, both are also at the top of the high-earners list for players appearing at the World Cup.

Forbes estimates that Ronaldo pulled in US$300 million ($428 million) in on-field and off-field earnings over the last year, while Messi made US$140 million ($200 million).

Among the other mega-earners are France and Real Madrid superstar Kylian Mbappé ($135 million), Norway and Man City forward Erling Haaland ($114 million) and 18-year-old Spain and Barcelona prodigy Lamine Yamal ($61 million).

Which 2026 World Cup teams are worth the most?

The financial side of football isn't just about wages though - for fans, it's also about what players are worth on the transfer market.

So, which national sides at the World Cup are among the most valuable? France tops the list, according to football database Transfermarket.

Boasting players like Mbappé, Bayern Munich winger Michael Olise and Paris Saint-Germain forward Ousmane Dembélé, Transfermarket estimates that the combined market value of Les Bleus is €1.52 billion ($2.5 billion).

England ($2.2 billion) and Spain ($2 billion) are not far behind, while Portugal ($1.7 billion) and Germany ($1.6 billion) round out the top five.

With an estimated market value of around $128 million, the Socceroos squad will be the 35^th most valuable squad at the tournament.

How much is winning the World Cup worth?

Like athletes at the Olympics, most footballers playing at the World Cup will be focused on winning rather than financial incentives. That doesn't mean that there isn't prize money though.

FIFA is set to pay out roughly $936 million to the national associations of teams competing at the World Cup. $71 million will go to the winner and $47 million to the runner-up, while each nation is guaranteed at least $15 million.

That won't necessarily all go to the teams though. Australian players will reportedly receive 50% of any World Cup prize money under their current collective bargaining agreement.

So, if half of that $15 million figure was split with the 26 members of the Socceroos squad, each player would receive $288,395.

"Don't cry." That's what I told myself as I walked into the CEO's office the first time I was made redundant.

I knew it was coming. They'd given me a new job title which I have since been told is a sure pathway to redundancy land, easier to cut a role you've just created.

The CEO actually handled it spectacularly well. He was gracious and kind and understood when I said I had to leave, emotion getting the better of me.

How redundancy affects your identity and confidence

I was so hurt. I had poured so much of myself into this job.

I'd helped them get nominated for ACRAs and had taken them to number one in the ratings. I'd given them so much, why was it so easy to discard me?

I was bruised. My ego was in tatters. I wondered who I was without the company.

I didn't realise how toxic it is to tie your worth to your employer. I'd made it part of my identity and that's what hurt most when they decided I was no longer needed.

For as long as I can remember, I've wanted to be a journalist.

But when people asked me back then what I did, I wouldn't say 'I'm a journalist'. I would say "I work at NOVA".

By the time I started my most recent job, I was different.

I'd promised myself I would never become unhealthily attached to a company like that again.

If your job becomes your identity, redundancy feels like losing yourself. The sooner you separate the two, the easier the reset.

I didn't think I'd be next

Seven years, three launched podcasts, awards and millions of downloads later, news started to filter through that redundancies were coming. It wasn't a total surprise.

Advertising revenue was falling, we'd already seen what it had done to the radio industry.

The company was also pushing AI like it was life or death. We were reassured that we weren't AI'ing ourselves out of a job, but it didn't stop the uneasy feeling.

Truthfully, I wasn't prepared for it to be me, at least not so quickly.

I'd been pulling extra time in the past year, filling in for a maternity leave colleague while holding down my own job and backfilling others. I felt like my role was needed.

But on April 21, I got a call to inform me that the restructure would be impacting my role.

Now I understand that legally, managers are restricted with what they can say at this moment.

But when you just desperately want clarity on whether you're being made redundant or not, they can't actually confirm it.

It's rage-inducing and the management speak strips away any humanity.

What happens when you're told you're being made redundant

This is what happened inside my brain after I hung up:

"Agggggghhhhhhhhh!!!"

"Oh s**t, will I be able to pay my mortgage?"

"Who will hire me now?"

"How will we be able to afford to pay for things?"

"Ugh a new resume."

After some calls and a cry, the shock wore off quite quickly. I got myself together and started researching.

I looked up what my entitlements were and logged into my portal to check how much leave I had owing.

I'd been there for seven years, so I was entitled to 13 weeks' redundancy pay, plus a four-week notice period, which they would eventually pay out.

I would also have a payout for accrued annual leave and pro rata long service leave.

How much redundancy pay can help after job loss

That immediately made me feel lighter. I would have enough money to get me through at least a few months, during which I was pretty sure I could find something to do with myself.

It also made me realise I should always have money like that payout in my bank account for situations just like this.

My resume was so old. We lovingly curate them and then abandon them for years, I should have been keeping it updated.

Thankfully my company had trained me on AI so I used it to help me create a new one which I then promptly rewrote.

I've already got an interview lined up, but not being based in Sydney is making the job hunt a little harder to navigate.

I went remote during the pandemic and haven't been back in the office full-time since. Remote jobs like mine aren't easy to come by in 2026.

A new job also means a potential shift in routine and working hours as well as a new commute, not just for me but my family too. With a school-aged kid, that's really stressful.

I asked my direct manager to be my support person for the formal redundancy meeting, and I am so glad I did.

Choosing the right person to sit beside you while you're being told your world is about to change is very important. She was amazing.

I was asked to work for another two weeks, which I agreed to.

Why the last day felt so unsettling

Then I had the weirdest last day at work ever.

People are commiserating with you but also celebrating you.

The speeches made it feel like I was attending my own funeral. But being able to separate my emotions from my employer actually made this last day quite joyous.

I got to say goodbye to the working relationships I'd been enjoying for the better part of a decade, while knowing there would be friendships that endured beyond it.

What you need to tell yourself if and when you ever face redundancy, is that business will business, regardless of how much the company directors and your colleagues like you as a human being.

The important thing to know is that you are not defined by who employs you; you're defined by the work you do and the lasting impact that has on the people around you and those who consume the outcome.

Whatever I do next, know that I go into it without a skerrick of hard feelings towards my previous employer.

Redundancy sucks, doors close, onwards to find open ones.

If you need support

• Lifeline: 13 11 14
• Beyond Blue: 1300 22 4636
• Headspace (for under 25s): headspace.org.au/online-and-phone-support

Debt trouble rarely arrives with a show of fireworks. It turns up as an email, a late fee, a missed direct debit - then you're suddenly in a conversation where the other side sounds certain and you're trying to work out what happens next.

Australia's debt pile is enormous. Australian Bureau of Statistics data puts household debt at $3.33 trillion as at June 2025, with the average household carrying more than $313,000, mostly mortgages. This household debt sits at around 113% of GDP, keeping Australia near the top globally.

Debt isn't automatically a problem. It can bring a first home forward, fund study, grow a business or smooth a big cost over time. But when the debt goes bad, people come knocking.

Laurence Barlow was one of these knockers, a former debt collector who ran large teams collecting for banks and finance companies. That's why he's switched sides, launching Small Business Reboot to help people avoid the knock and know how to answer the door if it arrives.

"I've lost track of the number of people we've had to talk back from the edge because they're scrambling to pay creditors and save the home," says Barlow.

The Australian Financial Security Authority says creditor petitions (a court debt-enforcement process that ends in bankruptcy) climbed from a COVID-era low of 671 in 2020-21 to 1447 last year. The Australian Taxation Office was the largest petitioner by both volume and value, lodging 247 petitions worth $184 million.

"Whether it's a bank or the taxman, they want to know there's a plan," says Barlow. "The earlier you engage, the more options you usually have."

Q&A with Laurence Barlow on debt collection, rights and next steps

What triggers a debt collection notice in Australia?

When you take out credit, you enter a legal contract. It sets out how much you borrowed, the interest, fees, repayment dates and what counts as a default.

A debt collection notice is usually triggered when you miss a repayment or another breach. You'll get reminders, then a formal demand, then escalation to a specialist team or an external collection agency if nothing changes.

A default notice isn't a court order but the lender telling you what's wrong and giving you 30 days to fix it before enforcement.

What should I do in the first 48 hours after getting a debt notice?

First, breathe. A debt notice is scary. But then get organised.

Move the conversation into writing. You need a paper trail.

Start a folder and build a timeline: dates, amounts, who contacted you and how, what was said and how you responded.

Ask for the documents. Get a copy of the contract or agreement and a statement showing the amount, how it was calculated and what you've paid. You're checking whether the paperwork matches what you're being told.

What can debt collectors legally do?

When your account slips, my job as a debt collector was to open a dialogue and get things grounded in facts and process. I could be self-employed or hired by a lender or a debt collection agency.

I would contact you to seek payment, offer a settlement or a payment plan, or check why an agreed plan wasn't kept. If you're on a plan, debt collectors can follow up to review it and explain the consequences if it isn't working.

If the debt is secured against goods, and only after the proper legal steps, they can organise repossession - though that's never a surprise visit at that point.

What can't debt collectors do under Australian law?

There's plenty that debt collectors must not do - we weren't just going around hustling people. We were at pains to not harass people or use any overbearing tactics.

We could only call Monday to Friday between 7.30am and 9pm, no more than three times a week and never on public holidays. We generally only meet face-to-face if no one has responded to our calls.

We couldn't trespass, mislead you or discuss your debt with someone else without your written permission.

Finally, we were trained to not take unfair advantage of vulnerabilities. If someone was ill, elderly, living with a disability or clearly out of their depth, collectors are expected to take that into account and offer realistic options.

How can I dispute a debt?

If something doesn't add up, dispute the debt in writing and ask for evidence.

For most financial firms, you can raise a dispute through the Australian Financial Complaints Authority. Once you've lodged a genuine dispute, collection should pause while it's addressed.

You can dispute a debt if it's not yours, you don't owe the full amount or you have some other legal grounds to challenge it.

If it's more than six years (or three if you're in the Northern Territory) since your last debt payment - and there's not a court judgement against you - you can also dispute it.

If you've already paid back the debt, include proof of payment.

What if I'm struggling to pay my debt?

If you're struggling to pay, hardship isn't a moral failure but a legal pathway. Work out what you can genuinely afford. Use a simple budget (Moneysmart's budget planner is a good resource) and be honest about your essentials and other debts.

If there's nothing spare, call the National Debt Helpline for free, confidential support. A financial counsellor can help you map options and draft words to your lender.

Next, ask your lender for hardship in writing. Under the National Credit Code you can lodge a hardship notice and change your repayments - for example, smaller payments for longer, or a short pause with a catch-up plan.

Lenders must consider the request and respond within set timeframes. While it's assessed, pay what you can, don't agree to an amount you can't sustain and get any deal in writing.

What are some common pitfalls to avoid?

• Ignoring the notices

Ignoring notices escalates the process and is often when debt collectors get involved.

• Acting while overwhelmed

Panic makes expensive promises. Stabilise first: get everything in writing, gather documents, slow the timeline and put a sustainable plan in place.

• Lying to the debt collector

Be honest about your financial situation, including other debts. Being uncooperative or misleading usually makes things worse.

Where to get free debt help in Australia

Call the National Debt Helpline to speak to a financial counsellor who can assess your options and, if needed, talk to your creditor.

If it's legal - court papers, repossession, a disputed contract - contact your local Community Legal Centre or Legal Aid for free advice. ASIC's Moneysmart site explains how counselling works and links to services in your State.

And if it's involving small business debt, remember a personal guarantee can tie business borrowing to personal assets. Get advice early, especially before you sign anything new.

How to read a debt notice, step by step

Start at the top and work down like you're checking a bill.

• Sender: Is it your lender, a collector acting for them, or a law firm?
• Type of notice: Reminder, formal demand, default notice, or court document (very different stakes).
• Debt details: Account or contract number, what the debt relates to, and whether it's in your name.
• Amount claimed: Is it itemised (principal, interest, fees, legal or enforcement costs) or just a lump sum?
• Dates: When the payment was missed, the date of the notice, and the 'pay by' or 'remedy by' deadline.
• Next steps: What they say they'll do if you don't respond (collections, default listing, repossession, court).
• Contact and response method: Where they want you to reply and whether they include a reference number.

Case study: How a small business debt can threaten the family home

John and Marie ran a suburban e-bike shop. They'd done the hard yards and paid off the family home, the dream scenario.

Then the COVID-era supply mess hit. Stock arrived late, freight costs jumped, demand faltered and cashflow got ugly.

To keep the doors open, they took out a business loan and, like many owners, signed personal guarantees. They didn't fully grasp what that meant at the time. If the business couldn't pay, the debt could follow them home.

When the numbers stopped adding up, attempts to restructure the small business debt were met with talk of bankruptcy and selling the home.

"We were panicked," says Marie. "We wanted to retire in a few years and the thought of starting again was terrifying."

They were referred to Barlow, who says the first step was to slow everything down.

"Once we got the paperwork, we could separate what the lender was saying from what the documents actually allowed," says Barlow.

"We put a workable plan on paper, got the conversations into writing and took the heat out of it, helping protect their home when it came time to negotiate."

If you or someone you know needs support
National Debt Helpline: 1800 007 007
The Small Business Support Line (1800 413 828)

Soaring petrol prices, looming interest rate hikes and the largest health insurance premium increase since 2017 are intensifying financial stress for Australians, with research showing the pressure is taking a significant toll on mental wellbeing.

Almost 85% of Gen Z and Millennials say money worries have affected their wellbeing, according to P&N Group's More than Money research, conducted by Painted Dog Research, while almost half say financial stress has directly impacted their mental health.

The survey paints a stark picture of how cost-of-living pressures are reshaping everyday life. Two in five respondents said they had cut back on essentials, while three in 10 reported that financial stress was affecting their sleep and confidence.

Many said they had delayed medical appointments, skipped social activities or stopped saving altogether.

Financial therapist Jane Monica-Jones says the findings reinforce how closely financial pressure and mental health are linked.

"There is a huge connection between money and mental health," she says.

Here, she shares five tips to help maintain financial wellbeing and mental health during turbulent times.

1. Appreciate that your finances and mental health are interlinked

First of all, Monica-Jones says that that relationship between financial wellbeing and mental health is crucial to acknowledge because of how a strong it is.

"There is a huge link between the two. Money and our finances are one of the most stressful aspects of our life, because they hit on our basic needs.

"Money is a device to get our food, our shelter and our clothing. And if that feels under threat - whether that threat is real or not - it can make us feel vulnerable and it's going to impact our mental health."

2. Don't hesitate to switch off and log out

While staying informed can be useful, doomscrolling through news stories about the latest share market movements or checking in on a bank balance too often may not only prove detrimental, it can also become compulsive.

"Doing things like doomscrolling or engaging in distressing news articles can actually have an impact on our resilience, our sense of wellbeing and our mental health," Monica-Jones says.

"When we're stressed, we often seek out those things that continue to stress us - we're compelled to seek out the source of our distress. We think that if we can work it out, we can overcome it. But often, that keeps us sucked in and it doesn't necessarily support us."

Monica-Jones suggests tackling these types of behaviours with the same strategies that can be used for any type of stress, such as exercise, meditation, getting outdoors or connecting with other people.

"What might feel supportive is getting more rest, some exercise, some meditation - anything that makes us feel more resilient.

"If we can support our physical and mental health first, we feel more resilient, then we are more able to come up with creative ideas and potential solutions."

3. Beware social comparison

Beyond limiting behaviours like excessive news consumption or account checking, Monica-Jones says that it's worth being mindful about the negative impacts of comparison.

"The role of social comparison is really important here. Social media exacerbates it, but advertising companies are also really great at bombarding us and prompting ideas like 'Why can't I afford that expensive car?' or 'Why am I not having those expensive holidays?'"

Instead of becoming lost in comparison, Monica-Jones suggests homing in on what success looks outside of the financial sphere.

"It could be that contribution that we make to our family and to our kids, or our friends, or our parents, or our community.

"It's also about focusing on our personal values. What do I actually find is valuable to me? Is it exclusively to do with the trappings of financial wealth, or are there other values that I could maybe place some deeper focus on?'"

4. Keep things in perspective

In the midst of periods of greater uncertainty, it can be difficult to imagine a time when things improve. This is where finding perspective can prove helpful, Monica-Jones notes.

"If we're thinking about perspective, we can look at the idea that there is growth and there is contraction. That there is always winter and that there is always spring."

Of course, that doesn't mean that people should stop being proactive about managing their bills or sticking to their budget in the short-term, nor does it mean that the larger issues in the financial world will immediately go away.

Monica-Jones also suggests looking for perspective at an individual level - especially for those who are experiencing financial setbacks.

"Getting perspective, or thinking a little bit wider about our life as a whole, gives us that sense of resilience because we're actually seeing the bigger picture.

"That could be a bigger picture which shows that we're more resilient or capable than we thought we were, because there's plenty of evidence of the hurdles that we've overcome in the past."

5. If you're struggling, get help

Perhaps the most crucial point of all for those who are in a precarious financial situation or struggling with their mental health is that there are people out there who can help.

"The important thing to know if you're truly struggling, if you've got debt issues, or even if you have small business issues, that you can go and see a financial counsellor. That's part of a free service that's offered to all Australians," Monica-Jones says.

A financial counsellor will be able assess the situation and help with managing debt, developing a budget, negotiating with government agencies or creditors, and accessing any grants, concessions or legal support (if required it) that some may be eligible for.

"There's also other types of professional help. That could be someone like a financial therapist who deals with your challenges with money, but it can also be a financial advisor or a therapist," says Monica-Jones.

Some of the organisations recommended by ASIC's MoneySmart include those listed below, but ASIC also has a financial counsellor near you tool to connect people with counsellors in their area.

• The National Debt Helpline (1800 007 007)
• The Mob Strong Debt Helpline (1800 808 488)
• The Small Business Support Line (1800 413 828)

Alternatively, for those looking to talk to someone about their mental health there are plenty of options listed by Health Direct, including the following:

• Beyond Blue (1300 22 4636)
• Lifeline (13 11 14)
• The Kids Helpline (1800 55 1800)

Later, the family heads to the local RSL for breakfast. Outside, a crowd gathers around a chalk circle. Coins spin through the air as adults laugh and cheer. It's two-up, the one day of the year it's legal. "Just a bit of fun," his dad says, handing over a gold coin.

On the way to the shops, he passes a newsagency. Posters advertise Powerball jackpots. A digital billboard flashes: Win $20 million this Thursday.

Back home, Carlos watches the ANZAC Day AFL match with his older brother. The commentators talk about odds and multi-bets. Logos for gambling companies flash across the screen. Carlos cheers when the Bombers score. His brother doesn't, his bets have already lost. After lunch, Carlos plays a free iPad game. He's prompted to buy a 'loot box' for a chance at a rare skin. The spinning wheel looks like Mum's scratchies. He doesn't realise it, but he's engaging in simulated gambling. 

That night, the family watches a quiz show. During the ad break, a betting company commercial blares its catchy tune. Carlos hums it while brushing his teeth. 

By bedtime, he's encountered gambling seven times - a lucky number for some. It's woven into his entertainment, his community, his games and his family's traditions. 

For Carlos and millions of children like him, it's just another day in Australia.

Teenagers are gambling more than they're playing sport

Almost one million Australians aged 12 to 19 gambled in the past year - more than the number who played cricket, soccer, basketball or footy. That's one in three teenagers, enough to fill the MCG nine times over, according to The Australia Institute. Together, they wagered an estimated $231 million, despite the legal gambling age being 18.

Among 18- to 19-year-olds, nearly half gamble regularly and many carry those habits into adulthood. "We've allowed gambling to get to the point that Aussie kids think it's normal to discuss betting odds when they talk about the footy," says Morgan Harrington, research manager at The Australia Institute.

Public Health Association Australia (PHAA) warns that young people are five times more likely than adults to develop gambling problems. Between 3%-4% of young gamblers already show signs of addiction or are at serious risk.

"Like Big Tobacco, the gambling industry knows if it can get kids hooked, it has a pipeline of customers for life," says Ebony Bennett, The Australia Institute's deputy director.

Australians lose more to gambling per head than anyone else on earth - more than $31.5 billion per year, according to the PHAA. That's more than $1000 per person, more than gamblers lose in Las Vegas. The losses aren't just financial.

"They drive mental illness, domestic violence, family breakdown, housing stress, self-harm and potentially suicide," the PHAA said in July 2025. 
Harrington says this didn't happen overnight.

"It's because of the proliferation of sports betting apps and the advertising for them, which has become just about impossible to avoid," he says.

"These technologies simply weren't available 10 or 15 years ago and the government isn't doing enough 
to restrict use to adults."

The government has known this for some time. In June 2023, a Federal inquiry into online gambling delivered a landmark report - You Win Some, You Lose More. This became known as the Murphy Report, led by the late Labor MP Peta Murphy. It sets out 31 urgent reforms, including a ban on gambling ads during live sports and stricter identity checks for online betting. Two years later, most remain untouched.

Harrington says it comes down to political will.

"We don't see ads for cigarettes anymore and no one thinks that is strange, yet you can't watch a sports match in this country without seeing gambling ads."

The Murphy Report had bipartisan support, but its recommendations stalled.

Betting logos still dominate broadcasts; gambling apps still target young people; the same digital spaces where children watch videos or play games are saturated with gambling cues. "So far, the government seems more willing to side with the gambling industry than Australians affected by gambling," he adds.

How Australian children are gambling

"The impacts of gambling on the young generation will be everlasting ... My son fell into the trap after having a couple of wins. Those wins turned into losses and those losses are then chased until there is nothing left but tears and depression," reads one submission to the Murphy Report.

Gambling isn't one activity but a spectrum of risky behaviours, some far easier for kids to access than others.

Anne Hollonds, director of the Australian Institute of Family Studies (AIFS), says that while most 16-17-year-olds don't gamble, "a significant number do. One in five boys and one in eight girls reported spending money on at least one gambling activity within a year," she says.

"The most common form was private betting with friends or family - cards, mah-jong - activities that have no legal age restrictions." More concerning, about 5% of teens reported betting on sports, horse racing or greyhounds, all restricted forms.

Kids at the pokies 

Poker machines aren't how most children first experience gambling, but they're often where problem gamblers end up. NSW has the highest concentration of pokies outside Las Vegas, with about 90,000 machines, roughly one for every 88 people.

In 2022-23, Australians lost $15.8 billion on pokies, more than half in NSW alone, up 7.6% from pre-COVIDpandemic levels. Among 18-34-year-olds who regularly play poker machines, more than four in five are classified as high risk. Most also gamble elsewhere: 81% buy lotto tickets, 67% scratchies, 62% bet on racing and 56% on sports.

Australia has less than 1% of the world's population but 18% of its poker machines, according to The Guardian. Most global machines are inside casinos; in Australia, three-quarters sit in pubs and clubs.

Unsurprisingly, the world's biggest pokie maker, Aristocrat, is Australian. But what is surprising is that morethan 69,000 12-17-year-olds have used poker machines in the past year, despite ID checks, according to The Australia Institute.

The rise and reach of online gambling 

Online gambling may still cause less total harm than pokies, but it's catching up fast and reaching younger Australians in ways pokies never could. Australians who gamble online are twice as likely to experience harm as those who gamble in person (34% to 15%), according to the Murphy Report.

The COVID lockdowns accelerated the trend. With pubs closed and people isolated, gambling companies filled the void.

"Many people withdrew their superannuation and gambled much of it," Financial Counselling Australia told parliament. "The industry bombarded Australians with marketing. It was the perfect storm for gambling harm."

National spending on online gambling jumped from $5.6 billion in 2019 to $9.6 billion in 2022 - a 72% surge.

Morgan Harrington wrote in The New Daily that "free-to-air TV alone airs more than one million ads a year, not counting the torrent online".

"If 85% of 12-17-year-olds have seen a gambling ad on TV in the past month, is it any wonder young people talk about betting odds like they once did player stats?"

Speaking to Money, he says there's no single fix, but implementing the Murphy Report's recommendations, "would be a good start".

"The fact that there is no Federal regulator simply has to change," he says.

The report called for a national gambling regulator, a minister for harm reduction and an ombudsman to handle complaints.

Three quarters of Australians support a total ad ban within three years, and more than four in five want gambling ads gone from social media, stadiums and uniforms.

On one of those points, the public may get their wish.

Since December 10, platforms such as Instagram, TikTok and Snapchat must block under-16s - a policy that may indirectly reduce gambling exposure. YouTube, initially exempt, is now included.

But experts warn gambling promos will still slip through via sport, streaming and other platforms.

Power of the gambling lobby

Movement on the Murphy Report's recommendations appears unlikely for now.

In August 2024, The Sydney Morning Herald reported that Prime Minister Anthony Albanese shelved a proposed ban on gambling ads under pressure from media networks and sporting codes ahead of the Federal election.

The timing raised eyebrows. Analysis by Reuters revealed that MPs accepted $245,000 in free tickets to sporting events while the ad ban was under consideration. Albanese received $29,000 in tickets, mostly to Rabbitohs games and grand finals, while then Opposition Leader Peter Dutton accepted $21,350 worth.

Australia's professional sporting codes have a financial stake in the gambling industry, which pours millions into sponsorships. Political donations are also common. A 2021 ABC investigation found gambling-linked donors made more than $80 million in political payments between 1998 and 2020.

Even raising concerns can come at a cost. In October, independent senator David Pocock was removed from the Australian Parliament Sports Club - a social group for politicians and journalists (and lobbyists) - after objecting to a gambling lobby group being a paid member.

The Public Health Association of Australia PHAA) is calling for reform, including a ban on political donations from gambling operators and a 1% turnover levy to fund harm-reduction services.

Until such measures are introduced, critics argue Australia will continue to treat gambling as a commercial opportunity rather than a public health issue - leaving the house and its lobbyists, firmly in control.

When gaming becomes gambling

Younger children now face gambling cues not just in ads or sports, but inside the games they play. A September study found simulated gambling in games aimed at kids as young as four.

Many of these games use 'loot boxes' or 'gacha' systems, digital lucky dips where players spend real money for a chance at rare virtual prizes. The flashing lights, suspenseful spins and near-misses mimic the psychology of slot machines.

These features "may function as a gateway to gambling-related harm", warn researchers from the City University of Hong Kong and The University of Sydney.

To get ahead of this, Australia introduced new age ratings for games with gambling-like content in September 2024.

Titles with chance-based purchases must carry at least an M rating, while games that simulate gambling, such as casino or betting apps, must be R18+. Yet out of the top 100 grossing mobile games, researchers found 20 on the App Store and 48 on Google Play that didn't comply.

"Several games with these features still carry ratings below what the law requires," says researcher Leon Xiao.

The team also uncovered wild inconsistencies. Of 31 games with gambling-like content, 30 had conflicting age ratings - some showing four different ratings at once.

Gardenscapes was rated G on Google Play, 4+ on Apple, 16+ in its privacy policy and 16+ with parental permission in its terms.

Dice Dreams was listed as 4+ on Apple, M on Google Play and 15+ under Australian classification - yet its developer admitted it was "intended for those 18 and older."

For parents, that means there's no consistent guide to what's appropriate. Xiao says confusion stems from poor communication. The rules, which took effect on September 22, 2024, also apply to older games that add or alter loot boxes, but many still display outdated ratings.

"The relevant minister arguably misled the industry by declaring that the rules do not apply 'retroactively', even though they clearly do apply to previously released games that are substantively updated," he says.

He adds that the Australian Classification Board only released compliance guidance a week before the law took effect. "That gave the industry very little time to react."

How games are designed to keep kids playing

"Gambling-like elements are designed to make video games addictive," says Morgan Harrington, from The Australia Institute.

"They normalise gambling behaviour, which can become a problem as kids grow up."

Parents and carers, he says, need to understand the risks in the games children play. Parents have long relied on Australia's film and TV ratings to judge what's suitable for kids. Those systems aren't perfect, but at least they're consistent. Gambling, too, is tightly controlled: betting apps must verify ages, and casinos can't let minors through the door.

Yet the study suggests the same consistency doesn't extend to mobile games. A spokesperson for the Department of Infrastructure, Transport, Regional Development, Communications, Sport and the Arts told Money the updated classifications are "designed to help Australians make informed choices", and encouraged people to check ratings at classification.gov.au.

"The government is continuing to work on broader reforms to the National Classification Scheme to ensure it remains a trusted and relevant source of information for Australians when deciding what to watch, read and play," the spokesperson said.

The classification board vows to work with publishers and platforms to improve compliance, with enforcement handled by State and Territory authorities. Public consultation on updated classification guidelines is expected next year.

The Roblox test

Roblox and Minecraft weren't part of the study but were tested separately due to their popularity.

Both are 'sandbox' games where players create their own worlds and minigames, making regulation near impossible.

Roblox alone has about 350 million users, 40% of them are younger than 13. Loot boxes and paid random-reward items remain widespread.

When researchers created a 12-year-old's account, they were immediately prompted to buy a $5 'starter pack' containing a random 'royal egg'.

Later, the same account entered Hotel Elephant, a player-made casino with a functioning poker machine that accepted Robux, Roblox's currency that can be purchased with real money. That, they argue, warrants an R18+ classification for Hotel Elephant, and by extension, Roblox itself.

Mislabelling games is illegal under Australian law, but penalties are weak: the maximum fine is only $6000.

"Given Roblox has a yearly revenue of $5.8 billion, it is reasonable to expect it to moderate its platform to protect child users and ensure compliance with Australian legislation," the study concluded.

Where to get help with gambling

• Gambler's Anonymous: 130 meetings weekly, free membership
• Gambler's Help: Under-25 service, 24/7 support - 1800 262 376
• Gambling Help Line: 24/7 chat and counselling - 1800 858 858
• Lifeline: 13 11 14
• MensLine: 1300 789 978
• Beyond Blue: 1300 224 636

Reader question

Hi Paul, I'm new to thinking about creating wealth.

My parents both grew up in humble times in the UK and their philosophy when we were growing up was to enjoy life, buy a house and go on holidays.

They never considered wealth creation even though my dad had a well-paid job - hence my lack of knowledge. I moved to Australia in my 30s and so I met my husband a bit later in life and have one child.

We bought a unit (paid lenders mortgage insurance), then upgraded a few years later once we'd built a little more equity. Our townhouse is now worth about $1.65 million with about $900,000 equity.

We have close to $200,000 in super between us (husband was self-employed). We both earn a stable income of around $260,000 gross per year - it can be more with husband's overtime.

We are now in our mid 40s and my question is do we sit back a bit, go on nice holidays and live comfortably or do we push for a house (no strata)? Repayments would be 30% or a little more of our income. I've read that 30% is mortgage stress. Is a financial planner worth paying for?

Can you tell I'm an absolute beginner? - Violet

Paul's response

For a beginner you are doing well with your money, Violet. I am interested in what we learn about money from our parents. Your parents were not too far off being decent money managers. Sure, they were not great wealth builders, but they did get the key to financial independence right, they bought a house.

It would have been easier for them if they had built investments outside of the home later in life, but a home and a pension is a pretty good result.

In your case you are making good progress in building equity in your townhouse and you are also building your super. The idea that 30% of income in repayments means you are in mortgage stress is a bit general.

It is a good measure if you and your husband were on an average household income, which is around $95,000. You have $260,000, so your remaining income after 30% goes into a mortgage, is still a lot of money. I doubt you would be stressed.

The very best thing you can do, Violet,is create a budget. This will show you how much income you have after tax and what you spend. The surplus is what interests me. Once you establish this amount, then you and your husband can have a good conversation.

Personally, I don't think you need a financial planner to do the basic money planning yourself.

This planning will allow you to come up with a sensible balance between saving and spending. I don't think the answer will be to 'spend everything' on lifestyle or 'spend nothing' and save like crazy. I suspect the right answer lies somewhere in between.

I think your budget will show surplus income. This then tells you whether pushing for a bigger mortgage and a house makes sense and the flexibility you have to go for both, with a focus on owning a freestanding home while enjoying your lifestyle.

In your mid-40s, planning to own a house while enjoying a fun lifestyle is quite possible.

The trick for you two is to get your basic facts together and decide on your own plan. You have ample time and a very good family income. With a couple of decades of working and generating income in front of you. I think you can own a home and build wealth, while not sacrificing lifestyle... just don't plan to own a Learjet!

Tales of travellers stranded abroad in overseas hospitals facing huge medical bills may have come across your newsfeed lately.

These stories usually follow a similar pattern: tourists are unable to afford their emergency medical costs due to a lack of travel insurance and are then forced to request donations through crowdfunding websites, adding grave insult to injury.

In some cases, travellers may be denied cover for failing to declare a pre-existing condition, leaving them to shoulder treatment costs alone. Insurers only cover unforeseen medical issues, unless you have declared an existing condition upfront. When in doubt, declare it.

What defines a pre-existing condition?

A pre-existing condition refers to a medical or physical condition, defect, disease or illness of which you may be aware of, and for which treatment, medication, investigation, surgery or advice has been received. According to the Australian Institute of Health and Welfare, most Australians (61%) fall under this category.

While policies differ, travellers should declare any condition they've sought treatment for in the past 12 months, as well as any chronic or major health issues from earlier in life. If in doubt, speak with your insurer and seek medical advice before you travel.

How much can I expect to pay?

The cost to cover your pre-existing condition will vary greatly, depending on the severity and complexity of the condition itself.

For example, a reader in their twenties enquiring about cover for endometriosis would likely pay a relatively low premium to have the condition included. By contrast, an older traveller with a heart condition heading to the US can expect significantly higher costs, depending on the specifics of their condition.

Can I choose not to cover my condition?

If you're upfront about your condition, you'll usually be given options. In some cases, you can choose to opt out of cover, which means any claims related to that condition won't be paid. For more serious health issues, insurers may require you to opt in and pay an extra premium to make sure you're protected.

Lastly, honesty is the best policy. If you knowingly withhold information, your insurer may decline you cover when you need it most.

Travellers are expected to be transparent about their medical history so insurers can assess their risk fairly and ensure they're properly protected. When in doubt, be upfront to ensure you have the right safety net in place.

The recent scandals surrounding the chief executives of WiseTech Global and MinRes have put the issue of CEO behaviour on the agenda and raised questions about what if any recourse shareholders have.

CEO scandals can have a direct impact on investors, often triggering sharp share price falls and raising questions about governance, executive accountability and potential legal action.

But shareholders don't have any direct influence on a CEO's future, regardless of what they've done.

Instead, it's the job of a company's board of directors to hold a chief executive accountable for their behaviour.

Who can sack a CEO?

"The board's job is to appoint CEOs, to remove CEOs, to hold them to account on the performance of the business and to ensure that the CEO is doing the right things in the best interests of the business and the shareholders," says Megan Motto, CEO of Governance Institute of Australia.

Along with the financial performance of the company, directors would consider non-financial issues, such as data breaches or reputational damage.

While they have no direct influence, shareholders elect the board, which gives them tacit influence.

They can also raise issues at annual general meetings and vote against the company's remuneration report, which sets out how it pays directors and senior executives.

Shareholders use the vote against the rem report to express their dissatisfaction about a company's performance such as they did in November last year, when 83% of shareholders voted against the Qantas remuneration report.

The two recent CEO scandals each involve different issues.

Why Mineral Resources shareholders are worried

At mining company Mineral Resources, the scandal involves revelations that founder and chief executive Chris Ellison allegedly ran a tax evasion scheme for a decade.

Ellison, former chairman Peter Wade and three other founding executives allegedly realised $7 million in profits in the three years after MinRes floated in 2006 by using a company incorporated in the British Virgin Islands to sell machinery to the mining company at inflated prices.

MinRes then claimed tax deductions that it wasn't entitled to.

MinRes shares fell sharply following the revelations.

The board is investigating the claims.

In the meantime, news this week of a deal with Gina Rinehart to buy some oil and gas projects from MinRes for $1.13 billion has helped the share price recover somewhat.

How the WiseTech controversy hit investors

At WiseTech, founder and chief executive Richard White has been accused of bullying and inappropriate conduct.

A media investigation revealed White paid for a multi-million dollar house for an employee who he had been in a relationship with, that he was selling millions of WiseTech shares to pay his ex-wife, and that had been accused by an outgoing director of intimidation, bullying and overseeing poor corporate governance.

Shares in the company fell from above $133 to under $100, reversing much of the company's rapid share price gains.

It is notable that both scandals were uncovered by the media and not revealed by the companies themselves.

WiseTech shares rebounded somewhat after White resigned.

Can shareholders take legal action?

Motto says the departure of a CEO can play out in different ways, but will usually start with a conversation between the board and the beleaguered chief executive about what's in the best interests of the corporation.

"Sometimes that will be board-initiated and sometimes it might be CEO-initiated, but there's no hard and fast rule," she says.

And Motto points out that shareholders can vote with their feet, by selling their shares.

But doing so might incur a loss, in which case there is always the option of joining a class action lawsuit.

Securities class actions in Australia are generally launched because of a breach of continuous disclosure regulations, which require companies to release information which could affect the share price in a timely manner.

The class actions typically involve situations where executives and the board sat on bad news such as a profit downgrade - such as the successful class action against Myer, where shareholders argued they made a loss because they would have sold their shares had they known all the information.

However, Damian Scattini, a Sydney-based class actions partner at global law firm Quinn Emanuel, says they could also cover poor behaviour by the chief executive.

"No one cares if the CEO on the weekend likes to go train spotting or go to nudist beaches or whatever, it doesn't matter," he says.

"But if what they are doing has the potential to jeopardise the business of the company, either through its reputation or through upsetting all the corporate covenants, or anything really, that would be material to the market."

Under such a circumstance, if the company board knew about the behaviour and its potential to affect the share price, but didn't inform the market, then they might have breached the continuous disclosure obligations.

Such class actions wouldn't rely on the perceived morality or immorality of the CEO's actions, only whether the actions could affect the share price.

Commenting on the likelihood of class actions against some of the companies that have been in the news recently, Scattini says: "I would be astounded if people aren't measuring up some of the companies that have had recent CEO problems."

Unwanted marketing material is one of the pain points of modern life. As retailers jostle and elbow their way into our inboxes and phones via email and text in the hope that getting our attention will elicit a purchase, many are achieving the opposite - anger rather than allegiance.

Consider this scenario: you buy a pair of shoes in a physical store, when the person ringing up your purchase asks for your email address.

"So we can email you the receipt," he explains.

With one eye on easier filing of tax receipts or household budgeting, you then remember to check whether this also signs you up to receive marketing emails.

You are assured that no, it's solely for your receipt. You leave the store, purchase in hand, and don't give the transaction another thought... until a marketing email arrives from that very same store a week later.

Hitting the unsubscribe button to newsletters and sales emails is a chore we've all become accustomed to... 
and resent.

Spam and consent laws

The Spam Act 2003 and Spam Regulations 2021 stipulate what marketers must do before sending us emails or texts.

Under Australian law, your consent is required before someone can send you marketing texts or emails, and it must be easy for you to unsubscribe (you shouldn't have to log in).

'Consent' is not as straightforward as you might imagine, however. The Australian Communications and Media Authority (ACMA), the statutory body that regulates spam in Australia, says consent can be 'inferred' or 'express'.

Express consent means you've ticked a box, filled in a form, or agreed to marketing emails over the phone or in person. Inferred consent is a little murkier.

According to the ACMA, it might be reasonable to expect that you have consented to receive marketing emails if you have a provable, ongoing relationship with a business - if you've subscribed to a service or become a member, for example.

"It does not cover sending messages after someone has just bought something from your business," says ACMA.

Consent is not required if the email sender is a registered charity, educational institution contacting you as a former or current student, government body or registered political party.

How is it regulated?

If you're getting emails you didn't consent to, or continue to get emails after you've unsubscribed, you can forward the email in question to ACMA to lodge a complaint. When ACMA receives a spate of complaints about a particular company, an investigation may be launched.

Consequences range from warnings to fines if the issue is found to be serious and ongoing.

ACMA issued hefty fines to several companies in 2023, including Kmart, Ticketek, DoorDash, Uber Australia, CommBank and MyCar Tyre & Auto.

Kmart had to pay a fine of $1,303,500 for sending more than 200,000 marketing emails between July 2022 and May 2023 to customers who had previously unsubscribed. A combination of technology, system and procedural failures was blamed for the breach.

ACMA chair Nerida O'Loughlin says people are getting frustrated and angry with big brands intruding on their privacy by not respecting their wishes to unsubscribe.

"When a customer decides to opt out  of a marketing mailing list, businesses are obliged to fulfil that request," she says. "The rules have been in place for nearly 20 years and there is simply no excuse."

Ticketek was fined $515,040 for sending 41,000 marketing texts and emails without the consent of recipients and around 57,000 texts and emails to people who 
had previously unsubscribed.

Uber Australia copped a fine of $412,500 for sending out marketing emails in breach of Australian spam laws. The emails were sent on a single day in January 2023 as part of an advertising campaign for an alcohol home delivery service. O'Loughlin says it is unacceptable that a company conducting high-volume marketing does not have robust systems in place.

"In this case, an avoidable error has led to more than 2 million messages being sent without a way for people to unsubscribe."

Worse still, half a million of those messages were sent to people who had previously opted out.

"Consumers are fed up with their wishes not being respected. People rightly expect to have choice over who contacts them for marketing purposes," says O'Loughlin.

She says ACMA will monitor Uber's compliance and will not hesitate to take stronger action if it doesn't comply in 
the future.

"All businesses conducting e-marketing should be actively and regularly reviewing their marketing to ensure it is compliant," she says. "We are particularly concerned about direct marketing that involves gambling, alcohol and 'buy now, pay later' products and services that may lead to significant harm for people in vulnerable circumstances."

How Australia measures up on marketing laws

Consent is required in most countries before a company can contact you for marketing purposes. Not in the US, though. As long as Americans are given the option of unsubscribing, companies can send them as much marketing material as they like.

In countries that require consent, some prohibit pre-checked boxes and other forms of passive consent (during the checkout process for an online purchase, for example). Australia, Germany, Netherlands, France and Canada are among the countries that require people to 'actively' opt in.

All countries require that marketing emails have an unsubscribe option, but the number of days a company has to act on an unsubscribe request varies.

In Germany and Italy, marketers have to process an opt-out request the same day. In Australia they have five days and in the UK they have 28 days.

What happens to companies that flaunt spam regulations?

Consequences range from a slap on the wrist to jail time. The severity of punishment depends on the nature of the violation, and whether the company in question is a repeat offender. 
In the US, serious spammers can face fines of up to $US16,000 ($23,400) per email. In Spain, they can face up to €600,000 ($973,000) per infringement.

In Italy, serious spam violators can face jail time of up to three years.

How to reduce the amount of spam you receive

It is unlikely you can completely avoid unwanted emails, calls and texts, but there are precautions you can take to cut down the numbers:

• Enter competitions at your peril (they are often a way to gather your contact information) or use a dedicated email address for competition entries. It also allows you to track what organisations have compromised your data.
• Untick pre-ticked boxes when you buy a product or sign up for a service. Pre-checked boxes aren't allowed in Australia, but it happens anyway.
• Take the time to check terms and conditions. A quick scan is all it takes to make sure you're not agreeing to marketing emails.
• Block senders of spam/scam emails and texts using your phone and email filters and settings.
• Before you click on an unsubscribe link in an email, check the email address to make sure it's not a scam (mispelled or generic email addresses are red flags).
• If you haven't given your consent to an email, forward it to ACMA at report@submit.spam.acma.gov.au.
• Register your number at donotcall.gov.au to reduce telemarketing calls.
• Fill out a complaint form about spam emails or texts at acma.gov.au/spam-complaint-form.
• Forward SMS spam to the ACMA on 0429 999 888.