How much you can save with Money's Best of the Best


This time two years ago we were getting ready to celebrate calendar year super returns of 15.2%, the cash rate was just 0.1%, inflation was 3.5% and mortgage rates were about 2.5%. Petrol was $1.61 a litre.

A year later, 12 months ago, super returns were just about to close the calendar year on -5%, the cash rate had surged to 3.1%, inflation had more than doubled to 7.8%. Mortgage rates had also doubled to about 5%. Petrol was $1.83 a litre.

And right now, super returns are likely to finish the year on 7%, the cash rate is 4.35%, inflation has fallen back below 5% and mortgage rates are about 7%. After a roller coaster ride this year, petrol is back to $1.80 a litre.

how much you could save with best of the best 2024

Consumers feel the pinch

When inflation, mortgage rates, investment returns and fuel prices jump around like this, consumers have every right to be nervous.

And if they weren't, they will be after listening to daily news reports of the latest global military crises mixed with news of coming extreme weather as we bounce around weekend-to-weekend oscillating between fears of major bushfires to torrential rain and floods.

When this is the backdrop consumers are facing, the least we can do is help them find a good value deal.

Finding a better deal

They need reassurance that even if we can't solve all their financial stresses, we can at least give them comfort that their money is working as hard as they are.

And this is precisely what the Money Best of the Best awards set out to do.

Money has been doing these awards for 15 years now and Rainmaker has been working with them for the past five.

Through this time the mission of the awards hasn't changed one bit. If anything it's sharpened.

How much you could save by switching

If Money readers were invested in this year's best super fund, best equities managed fund, had their mortgage with best lender, had some money in the best term deposit, their life was insured with the best super fund group insurance deal, and their car and home was insured with the best insurer too, over the past three years they would have been $40,000 better off compared to if they'd just been with the average in each segment.

Multiple this many-fold compared to if they'd been with the worst because, sadly, as we know all too well, the range in returns, fee ratios and insurance premiums can be routinely as much as 2:1 or even 3:1.

The primary purpose of all the Money Best of the Best awards is identifying success and celebrating it so we can point our readers to these products and the industry leaders who run them, in order to help readers, their families and their communities.

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Alex Dunnin is director of research at Rainmaker Information, publisher of Money magazine and Financial Standard. He has a Bachelor of Science and a Diploma of Education from the University of Sydney, and a Graduate Diploma in Operations Research and Graduate Certificate in Marketing from Charles Sturt University.
Giuseppe De Filippo
January 6, 2024 5.08pm

I love Money Magazine but beware of self-celebration: past performance is not an indicator of future performance and these awards are telling us the best for this year, but not the best of next year. Some of the awarded companies constantly figure at the top year after year, so in these cases Money's awards go a long way since for these the outlook is more certain. But rarely managed funds or ETF repeat themselves and picking one of this year's top ones does not necessarily means picking a good performer for the 2024.