Territory Stories

The Northern Territory news Mon 16 Mar 2020



The Northern Territory news Mon 16 Mar 2020

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NT news


The Northern Territory news; NewspaperNT






Community newspapers -- Northern Territory -- Darwin; Australian newspapers -- Northern Territory -- Darwin

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News Corp Australia

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Copyright. Made available by the publisher under licence.

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News Corp Australia



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26 LIFESTYLE MONDAY MARCH 16 2020 NTNE01Z01MA - V1 DEPOSIT WATCHBORROWING WATCH MORTGAGE RATES CREDIT CARDS Rates accurate as of 12.03.2020. Source: Ratecity.com.au Big 4 Card Rate % Annual fee Int. free days Balance transfer deal Rewards CBA Platinum Awards 20.24 $249 55 yes yes Westpac Altitude Platinum 20.49 $150 45 no yes ANZ Rewards Platinum 20.24 $95 55 no yes NAB Rewards Platinum 19.99 $195 44 yes yes Low rate credit cards G&C Mutual Bank Low Rate Visa 7.49 $50 50 no no Auswide Bank Low Rate Visa Card 8.45 $50 55 no no American Express Low Rate Card 8.99 $0 55 yes no Community First CU Low Rate Card 8.99 $40 55 no no MOVE Bank Low Rate Card 8.99 $59 45 yes no Major banks Variable %(offset) Monthly ($300K) Basic rate % Fixed 2yr % Fixed 3yrs % Fixed 5yrs % Investor % (lowest var) CBA 4.10 $1,485 3.22 2.99 2.99 3.19 3.52 Westpac 3.44 $1,337 3.18 2.88 2.88 3.39 3.49 NAB 3.92 $1,418 3.09 2.88 2.98 3.19 3.39 ANZ 3.99 $1,431 3.12 2.68 2.88 3.08 3.52 ING 3.08 $1,278 3.03 2.59 2.49 2.74 3.44 BankWest 3.05 $1,273 3.15 3.09 2.93 3.19 3.49 St George 3.39 $1,329 2.94 2.84 2.84 2.84 3.49 Suncorp 3.09 $1,279 3.03 2.89 2.89 2.99 3.33 Bendigo Bank 3.14 $1,288 3.24 2.99 3.19 3.79 3.59 Low rate lenders Homestar Finance 2.49 $1,184 2.44 2.89 2.89 3.29 2.89 Reduce Home Loans 2.49 $1,184 2.44 2.79 2.79 - 2.79 Loans.com.au 2.87 $1,244 2.53 2.88 2.88 - 2.94 Market average 3.90 $1,415 3.69 3.31 3.35 3.64 4.18 Major banks Base rate % Max rate % Int/mth ($10K) Int/mth ($25K) Conditions CBA 0.01 0.65 $5 $14 Mthly deposit of $200, no withdrawal Westpac 0.45 1.55 $13 $32 Mthly deposit, account bal. must have increased NAB 0.11 1.50 $13 $31 Mthly deposit, no withdrawal ANZ 0.01 1.60 $13 $33 Mthly deposit of $10, no withdrawal Market leaders Xinja - 2.25 $19 $47 On balances up to $245k Up 0.50 2.25 $19 $47 5 card transactions per month 86 400 0.40 2.25 $19 $47 Mthly deposit of $1,000 in linked account MOVE Bank 0.80 2.00 $17 $42 Mthly deposit of $200, no withdrawal Australian Unity 0.50 2.00 $17 $42 Mthly deposit of $250, no withdrawal ONLINE SAVINGS ACCOUNTS TERM DEPOSIT RATES Major banks Rate %(1yr) Interest (1yr, $20K) Rate % (3yrs) Interest (3yrs, $20K) Rate % (5yrs) Interest (5yrs, $20K) CBA 1.00 $200 1.00 $606 1.00 $1,020 Westpac 1.20 $240 1.20 $729 1.20 $1,229 NAB 1.20 $240 1.15 $698 1.25 $1,282 ANZ 1.05 $210 1.00 $606 1.01 $1,031 BankWest 1.25 $250 1.20 $729 1.30 $1,334 St George 1.30 $260 1.30 $790 1.30 $1,334 Suncorp 1.30 $260 1.20 $729 1.20 $1,229 Bendigo 1.10 $220 1.25 $759 1.25 $1,282 Market leaders Judo Bank 1.95 $390 2.05 $1,255 2.15 $2,444 The Mutual 1.40 $280 1.60 $975 - Greater Bank 1.30 $260 1.60 $975 1.70 $1,759 QBANK 1.60 $320 1.55 $944 1.55 $1,599 Market average 1.37 $274 1.32 $803 1.30 $1,334 THEpill remainsAustralias most commoncontraceptive method but theoftenoverlookedMirenacanprovide long-termfinancial and health security. Healthexperts say the Mirenahormonal intra-uterine device (IUD) ismore effective than thepill but remains less popular becausepeoplebelieve it is too expensiveor inaccessible. Under Australias Pharmaceutical Benefits Scheme, there was a9.2 per cent drop in the numberoforal contraceptive pills prescribed between2016 to 2019, to 2.28 million. Prescriptions for the Mirena increasedmore than21 per cent in the sameperiod, to 143,300. MonashUniversity researcherDr Safeera Hussainy said long-acting reversible contraceptives (LARCs), such as theMirenaadevice inserted into theuterusallowed people toavoid the financial strain of unplannedpregnancies. In the real world the typical use ofhow womentake thepill onlymakes them 84 per cent effective, as people forget to consistently take them, she said. IUDs areabig investment intoawomans sexualhealth as it CALM DOWN: Forget toilet paper wars keep a cool head or your finances will be running on empty. Pictures: Twitter and Saeed Khan enables her toplanpregnancies, which thenallow her to continueworking andhave childrenwhen shewants. IUDs are99per cent effectivebecause theyre not user dependentand last five years. IUD procedures cancost around$150under thePBS,but Dr Hussainy said when comparedwith long-termcosts of thepill, LARCs win. Thesecond-most popular typeof contraception is condoms,usedbymen, she said. They havedecreased effectiveness due to splits or breakages. Womenshealth specialist Dr JessicaFloreani said you didnot have to forkout thousands of dollars tohave the IUD inserted in hospital. Getting aMirenaataGP or for freeat a sexualhealth network is themost affordable way, she said. And if you take thepill,Dr Floreani said toask if it was subsidised. Thereare many types of the pill, she said. If theyre subsidised they mightbe $12 ifnot theycan cost $80 for a three-month pack. Youre paying over$300a year for that contraceptive versus IUDs,where youve paid less for five years up front. How to cut cost of contraception SARAH SURMAN BE INFORMED Ask your doctor why theyve prescribed you with a particular pill and see if theres one on the PBS. Not all GPs are skilled in inserting IUDs, so shop around. Women under 25 can access contraceptive services for free at sexual health networks. There is a cheaper copper IUD (non-hormonal). Ask your doctor which is best for you. Its a myth that you cant have a Mirena if youve had children. There are still certain side effects some women experience when getting IUDs, so seek advice. Source: Womens health specialist Dr Jessica Floreani forced to lay off staff. Job security is so important but for many of us it can be easier said than done. Casuals and contract workers are most at risk and the first to go when companies cut staff. Keeping your skills up so you are in a good employment position is vital. 3TOO MUCH DEBTAustralians have the second-highest household debt levels in the country, behind Switzerland. Many of us have signed up to whopping mortgages and are also carrying too much household debt, such as credit cards and personal loans. But all of this comes to a head at some point. Having debt means you have to keep bringing in a regular income to survive. So theres no better time than now to reassess your debts, to see if you can consolidate, reduce and, ultimately, wipe them. 4DIVERSIFIEDASSETS It seems cliched but its the truth when it comes to finances: dont put all your eggs in one basket. Having your money or assets spread in multiple places is crucial, especially with the sharemarket volatility in Australia and overseas. There are some key places to spread your wealth and its most commonly across cash, shares, property and bonds. This means you can ultimately ride the wave when each asset classes go up and down. 5EMERGENCY FUNDNo matter what happens with the coronavirus fallout whether you lose your job or end up in tougher financial straits having an emergency fund is key. Ive always been petrified of being jobless so my safety buffer is building up as much cash as I can in my mortgage redraw and offset account, in case I end up with no income. If something goes wrong I then have somewhere to turn. @sophieelsworth SOPHIE ELSWORTH PERSONAL FINANCE WRITER WEVE elbowed each other in supermarket aisles to get our hands on toilet rolls and weve even thrown punches. Weve cleared the shelves of pasta, rice, hand sanitiser and paper towels, and rushed out to buy chest freezers to stash our supplies. The coronavirus panic has set in but its times like these that calm is needed especially when it comes to household finances. Here are five important things to consider to ensure you are in a good financial place. 1STASH SUPPLIESBelieve it or not Ive always had a fear of running out of toilet paper so much so I always have ample supplies in the cupboard. And, finally, this weird fear has paid off in droves. When everyone was rushing out to the supermarket to stock up, I could sit back, relax and watch the madness from afar. While stashing toilet paper is ridiculous given the majority of it is made here, having supplies of essentials, including medicines, at a time like this does make sense. 2JOB SECURITYIn recent weeks, retailers, hoteliers, restaurateurs and tourism operators have been Fight to keep your bank account full