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Money news: Gladys v Trump, rewards, super and property

In money news affects your hip pocket: the Gladys and Trump effect on women, property prices, unpaid super and rewards cards.

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In money news that will affect your hip pocket: time to focus on the positive for women without Trump, rewards cards skimp on actual rewards, the extent of Australia’s unpaid super problem, plus how capital city property prices compare.

The Trump and Gladys effect on women

Whether you are against Donald Trump, for him or just don’t care, there’s no denying the effect that his US presidency is already having on many women.

This week issues around women’s rights, and indeed human rights were voiced at rallies around the world, including in Australia where an estimated three-million men and women took to the streets.

But are we overly focused on this as being a set back for women when in Australia there is much to celebrate?

Take last week’s appointment of the first woman as New South Wales Liberal premier Gladys Berekjiklian.

She takes the reins at a time when the NSW economy is in good shape and the budget sits at $70-billion.

As a former Commonwealth Bank executive before running for the seat of Willoughby in 2003, Ms Berekjiklian knows finance, so if ever there was an opportunity for a woman leader to shine financially, now’s it.

Non-rewards cards better than rewards

It seems that rewards cards may not be worth your time and effort, according to a new study by financial comparison website of over 300 credit cards.

On average, for a rewards card, account holders pay $182 in annual fees and repay interest at 19.58 per cent, the study says.

This equates to a cost of $1,728 when repaying the average credit card balance of $6,298 over two years.

A non-rewards card, however, has an average annual fee of just $49, and a purchase rate of 14.65 per cent, which works out to be only $1,103 in fees and interest over the same period.

The study found credit card holders would be $625 better off when signing up for a non-rewards card, compared to a rewards credit card.

Are you being dodged out of superannuation?

Research brought to light by Fairfax Media claims that Australians who were underpaid their super entitlements may be $20,000 worst off because of it.

What’s more if they are aged in their 60s and have been unpaid super, they could be down more than $35,000 in retirement savings.

The findings will be raised at the first Senate committee hearing into unpaid superannuation today.

Employers are legally required to contribute at least 9.5 per cent in superannuation towards every employee over the age of 18 earning more than $450 (gross) a month. This is called the Superannuation Guarantee (SG).

However, a recent joint Industry Super/Cbus report found that 2.4 million workers were denied their SG in 2013-14. For the average worker this represented $1,489 or four months’ worth of savings.

Financy more on unpaid super?

How pricey is Sydney property?

Data group Core Logic shows the extent to which property prices in Sydney are just out of whack to the rest of the country.

The median house price in Sydney is well over $1-million yet the average loan on that property is significantly less than all other capital cities.

The most affordable suburbs within 10 kilometres of each capital city are listed below.

Suburb State Median House Price Mean Loan Value
Pennington SA $366,565 $187,626
Rocklea QLD $390,173 $190,766
Scullin ACT $502,717 $197,268
Anula NT $498,458 $301,420
Clarendon Valley TAS $153,531 $158,746
Braybrook VIC $613,399 $242,244
Westminister WA $405,716 $253,402
Tempe NSW $1,151,122 $287,275

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