The workers getting a raise as junior rates are scrapped
Junior pay rates scrapped, how Aussie motorists are beating sky high fuel prices, and big telcos hike prices...again. Here are five things you may have missed this week.
'Junior' pay rates scrapped
Over the next four years, junior pay rates will be scrapped for workers aged 18 to 20 who have at least six months' service in retail, fast food and pharmacy.
It puts plenty of young Aussie workers in line for a pay rise
Retail, fast food and pharmacy employ more than 1.5 million Australians and a disproportionate number are under the age of 21.
Until now those aged 20 have been paid 90% of the award rate, 19 year-olds 80%, and 18 year-olds 70%.
This is despite the fact that juniors can be highly experienced and have considerable responsibilities by the time they are 18.
Gerard Dwyer, National Secretary of the Shop, Distributive and Allied Employees' Association, says, "18 year olds are adults. They struggle with the same cost of living pressures as every other adult.
"They do not receive a discount on their rent or the petrol they buy to get to work just because they happen to be 18. Now they will be paid the same as other adults."
How Aussies are beating the bowser
Shopping around, hitting the streets and catching the bus.
That sums up how Aussies are tackling budget-busting bowser prices.
A survey by NRMA found over one in two (52%) drivers have scaled back their time behind the wheel in the past month - in some cases by up to 30%.
Over one in three (31%) motorists are choosing cheaper service stations. That's seen a four-fold increase in people using the My NRMA app, which gives real time fuel pricing across the nation.
The study also found:
- 24% are combining trips
- 13% are walking more, and
- 12% are relying more on public transport.
Despite the high cost of fuel, Queensland motoring body, the RACQ, says plenty of caravanners are expected to hit the road this Easter long weekend.
However, caravan owners are being urged to give their rig a once-over before heading off.
RACQ research shows almost a third (30%) of caravanners wait for a breakdown before doing any maintenance on their van.
Telstra and Optus jack up mobile prices...again
Another day, another price hike.
This time, it's Telstra jacking up its prices - for the second time in less than 12 months.
From May 5, most Telstra postpaid plans are going up by $4 a month.
Telstra prepaid plans will jump by $2 to $5 though the sweetener is more data.
Optus has also announced price increases.
According to WhistleOut, the telco's postpaid mobile plans will rise by $5 from May 18 subscribers will get the benefit of extra data.
It may be slim consolation for Telstra customers but they will soon have access to a new (presumably cheaper) bare bones plan.
Available from May 5, the Upfront Mobile Access plan will provide basic connectivity (emails, SMS, calls and limited browsing) at what Telstra says will be a "more affordable price point" No word yet on the exact cost.
SpaceX planning IPO
As Artemis II heads off on its historic voyage around the moon, investors may soon be able to get a slice of intergalactic action.
Reuters reports that Elon Musk's SpaceX has confidentially filed for an initial public offering (IPO) on the US stock market.
With a market value estimated at $US1.75 trillion ($2.5 trillion), a SpaceX IPO, if it happens, will be the biggest sharemarket listing in history.
It would also see space exploration move from science fiction to become a legitimate investment theme.
It wouldn't hurt Elon Musk's bank balance either.
Already the world's wealthiest person, Musk owns just under half of SpaceX. If the IPO goes ahead, he could become the first ever trillionaire.
What's likely to make SpaceX attractive to investors is not the company's grand plans to colonise Mars, but rather its Starlink internet service, which has over 9 million subscribers globally.
Unused subscriptions cost more than 579 litres of fuel
As Australians battle a fuel crisis, one in two of us could be wasting serious bucks through unused subscriptions.
Compare the Market found that the top five unused subscriptions may be leaving our wallets lighter to the tune of $1,739 annually.
Netflix is the most common unused subscription (annual cost of at least $119).
However, the most expensive unused subscription is gym memberships.
People who don't actively use their gym pass are spending around $93 per month on gym fees - at a cost of $1,116 annually.
That sort of money could buy around 579 litres of diesel - even at today's record-high prices.
It could be worth putting your subscriptions under the spotlight.
Cutting back can be an easy cost-of-living win.
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