Five money stories you need to know this week
Would you trust an EV on a road trip? Plus, the Aussie town where prices soared 40%. Here are five things you may have missed this week.
Who's giving $9.5 billion to US kids - and why?
Michael Dell, founder and chair of Dell Technologies is giving away $US6.25 billion ($9.5 billion) to give 25 million US children a financial head start.
The Michael and Susan Dell Foundation will fund $250 deposits for children aged 10 and under, directing the money to so-called 'Trump accounts' that can only be accessed when the child turns 18.
It's part of the newly launched Invest America program, which gives every eligible US child a savings and investment account they can grow over time.
Parents and families can make contributions of up to $5000 annually. No investing knowledge is needed - the accounts are professionally managed.
With an estimated worth of $US148.2 billion ($224.5 billion), Michael Dell ranks as the world's 10th wealthiest person leaving him well-placed to make a substantial donation.
Even so, Invest America is a great idea - one that wouldn't go astray here in Australia.
Do EVs really deliver the range they promise?
Six out of 10 electric vehicle (EV) buyers say their main concern is how far an EV will travel before it conks out.
It turns out they have every reason to be worried.
The Australian Automobile Association (AAA) tested nine EVs, finding each had an on-road range below the manufacturer's claims.
The MG4 2023 recorded the biggest variation. Under 'real world' conditions, it managed a range of 281km on a single charge - 31% less than the range noted on its windscreen sticker.
The Tesla model Y 2025 performed closest to laboratory tests, with a real-world driving range of 450km, just 3% below lab results.
AAA managing director Michael Bradley says the test results allow consumers to know which electric vehicles perform as advertised and which do not.
The surprise suburb where home prices soared 40% this year
An unexpected township has topped the leaderboard of property price growth in 2025, notching up gains of more than 40%.
If you think it was one of the ritzier suburbs like Toorak or Vaucluse, think again.
According to Cotality, lower-value suburbs delivered the strongest value gains in 2025.
Kalbarri, a coastal neighbourhood almost 600km north of Perth, leads the field for house price growth, recording gains of 40.2% this year. It's still relatively affordable with a median house price of $627,500.
The Townsville suburb of Cranbrook (Qld) recorded the highest apartment price growth, with unit values surging 29.3%. Cranbrook's median apartment price of $265,000 means it too offers affordable buying.
For property investors, WA's mining towns can offer rental yields high enough to bring on nosebleeds.
Apartments in South Hedland (WA), where summer temperatures can nudge 470C, delivered an eye-watering 17.8% gross yield - the highest Australia-wide.
Festive spending fueled by debt
There's not much time to recover from Black Friday spending, with Australians each set to drop around $828 on Christmas purchases.
The majority (54%) of us will pay for festive buys using cash or by dipping into savings.
However, research by Compare the Market shows 41% of shoppers plan to pay for Christmas using credit cards, personal loans and Buy Now, Pay Later services.
It comes as credit card debt is on the rise in Australia.
Reserve Bank data shows total card debt accruing interest reached $18.4 billion in September - the highest since 2021.
Adding salt to the wound, the RBA says the average standard card rate is 20.99%. That sort of rate can see the cost of Christmas purchases blow-out if the card isn't paid off in full each month.
If you have an ongoing card debt it can be worth looking for cheaper options.
ANZ's Low Rate Credit Card, for example, offers a 0% balance transfer rate for 26 months. A 3% balance transfer fee applies.
Popular $20k instant asset write-off extended
Good news for small businesses. The Senate recently passed legislation extending the $20,000 instant asset write off (IAWO) until June 30, 2026.
The IAWO is a favourite among small business owners.
It allows businesses with annual turnover below $10 million to claim an immediate tax deduction for newly purchased plant, equipment and other business assets, rather than depreciating them over time.
The $20,000 tax break is a far cry from the $150,000 instant write-off that applied during the COVID-era, but every bit counts.
Federal Treasurer Jim Chalmers expects up to 4.1 million small businesses to benefit from the extended IAWO.
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