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Readers response: What seems too expensive but is really worth the price?

We asked our readers what items or experience seem, too expensive but are really worth the price, and the response was overwhelming. Here's what our audience will always justify the price of. Robbie Kirkwood - Travel insurance. Elizabeth Foster - Business class on long haul flights. Jeanette Wallis - Coffee beans. Mandy O'Connor - A good pair of Levi jeans, and a good pair of boots. Pamela McDonald - I would say electricity! Seems lots complain about the cost until you lose power, then you realise how hard life would be without it. Tess Witchell - Real butter! Three ply toilet rolls, frappe iced coffee from McDonald’s, and proper bakery bread. Sue Yunker - Wine! Michael Schulze - A decent cup of coffee. Suzanne Jones - A holiday. Rose Niemack - Fruits and vegetables. Image credits: Shutterstock

Money & Banking

"Yet another disgrace": Rolf Harris’ net worth revealed

Disgraced TV star Rolf Harris died penniless after wiping out his estimated $31 million fortune, making it difficult for his victims to claim compensation. The convicted pedophile died of neck cancer and old age last year after spending his final years as a recluse with his wife at their luxury $10 million riverside mansion in Bray, Berkshire. Harris – a staple of children’s TV in the 1980s - was convicted of 12 indecent assaults, and managed to overturn only one of his convictions. The vile pedophile was released from prison in 2017. After his death, it was said that he left a $31 million fortune that he amassed during his career to his wife Alwen Hughes and daughter Bindi, 60. However, probate documents seen by The Sun show that his assets were said to be worth just $853,436.98 when he died. When expenses were taken out the net value of his estate was $0. It is believed that most of his fortune was spent to make it difficult for his victims, who were seeking compensation, to access his wealth following his death. A large part of his fortune is believed to have been used on around-the-clock carers for him and his wife Alwen, who died in September this year after suffering from dementia. His legal documents show that his will was last signed in March 2022, a year before his death, and was witnesses by two of his carers. Investigator and ex-detective Mark Williams-Thomas, who helped to convict Harris, said: “This is yet another disgrace. “He has obviously planned to get rid of money and assets and there is no way he’d have actually been penniless. “He had amassed a huge amount of wealth and I would assume he has squirrelled it away to avoid victims making claims on it, even after his death. The man had no shame.” Harris was known for a string of children's TV hits and was the face of British Paints for more than three decades before he was dumped by the brand when he was arrested in 2013. The following year, he was convicted a found guilty on 12 counts of indecent assault, and was sentenced to five years and nine months in jail. The assaults include one on an eight-year-old fan who asked for his autograph, two on girls in their early teens, and a catalogue of abuse against his daughter's friend of over 16 years. He was released on parole in May 2017 after serving three years behind bars. Image: Alan Davidson/ Shutterstock Editorial

Money & Banking

Hotel booking sites actually make it hard to get cheap deals, but there’s a way around it

<a href="https://theconversation.com/profiles/peter-martin-682709">Peter Martin</a>, <a href="https://theconversation.com/institutions/crawford-school-of-public-policy-australian-national-university-3292">Crawford School of Public Policy, Australian National University</a> Booking a place to stay on holidays has become a reflex action. The first thing many of us do is open a site such as <a href="https://www.wotif.com/">Wotif</a>, <a href="https://au.hotels.com/?locale=en_AU">Hotels.com</a> or <a href="https://www.trivago.com.au/">trivago</a> (all of which are these days owned by the US firm <a href="https://www.accc.gov.au/media-release/accc-will-not-oppose-expedia%E2%80%99s-proposed-acquisition-of-wotif">Expedia</a>), or their only big competitor, <a href="https://www.booking.com/">Booking.com</a> from the Netherlands. Checking what rooms are available – anywhere – is wonderfully easy, as is booking, at what usually seems to be the lowest available price. But Australia’s Assistant Competition Minister Andrew Leigh is concerned there might be a reason the price seems to be the lowest available. It might be an <a href="https://ministers.treasury.gov.au/ministers/andrew-leigh-2022/media-releases/supporting-tourism-and-accommodation-providers-set-their">agreement not to compete</a>, or the fear of reprisals against hotel owners who offer better prices. <h2>Agreements to not compete</h2> Leigh has asked the treasury to investigate, and if that’s what it finds, it may be the booking sites have the perverse effect of keeping prices high, especially when the substantial fees they charge hotels are taken into account. For now, the treasury is seeking information. It has set a deadline of <a href="https://treasury.gov.au/consultation/c2022-338978">January 6</a> for hotel operators and booking sites to tell it: <ul> <li> the typical fees charged by online booking platforms </li> <li> the details of any agreements not to compete on price </li> <li> whether hotels that try to compete get ranked lower on booking sites. </li> </ul> What’s likely to come out of it is a ban on so-called price-parity clauses that prevent discounting, or a ban on “algorithmic punishment,” whereby hotels that do discount get pushed way down the rankings on the sites. But in the meantime, there are things we can do to get better prices, and they’ll help more broadly, as I’ll explain. <h2>Flight Centre precedent</h2> <figure class="align-right zoomable"></figure> Back in 2018, in a case that went all the way to the High Court, the Australian Competition and Consumer Commission (ACCC) forced <a href="https://www.accc.gov.au/media-release/flight-centre-ordered-to-pay-125-million-in-penalties">Flight Centre</a> to pay a penalty of A$12.5 million for attempting to induce airlines not to undercut it on ticket prices. That the ACCC eventually won the case might be an indication price-parity clauses are already illegal under Australian law. But it’s a difficult law to enforce. This is why the treasury is considering special legislation of the kind in force in France, Austria, Italy and Belgium. The ACCC has known for some time that Expedia and Booking.com have included clauses in their contracts preventing hotels offering the same room for any less than they do, even directly. Rather than take the big two to court, in 2016 the ACCC “reached agreement” with them to delete the clauses that prevented hotels offering better deals <a href="https://www.accc.gov.au/media-release/expedia-and-bookingcom-agree-to-reinvigorate-price-competition-by-amending-contracts-with-australian-hotels">face-to-face</a>. <h2>The concession that conceded little</h2> From then on, hotels were able to offer better deals than the sites over the phone or in person, but not on their own websites. Given we are less and less likely to walk in off the street or even use the phone to book a hotel, it wasn’t much of a concession. Then, in 2019, with the Commission under renewed pressure from hotel owners for another investigation, Expedia (but not Booking.com) reportedly <a href="https://www.smartcompany.com.au/business-advice/competition/expedia-allow-hotels-undercut-prices-online/">waived</a> the rest of the clauses, giving hotel owners the apparent freedom to advertise cheaper prices wherever they liked including on their own sites without fear of retribution. Except several appear to fear retribution, and very few seem to have jumped at the opportunity. <h2>Algorithmic punishment</h2> An Expedia spokesman gave an indication of what might be in store when he was quoted as saying a hotel that undercut Expedia might “find itself ranked <a href="https://www.smartcompany.com.au/business-advice/competition/expedia-allow-hotels-undercut-prices-online/">below its competitors</a>, just as it would if it had worse reviews or fewer high-quality pictures of its property”. Being ranked at the bottom of a site is much the same as not being ranked at all, something Leigh refers to as “algorithmic punishment”. It’s not at all clear the present law prevents it, which is why Leigh is open to the idea of legislating against it. Although you and I may not often think about what hotels are paying to be booked through sites such as Wotif and Booking.com, and although what’s charged to the hotel isn’t publicised, it appeard to be a large chunk of the cost of providing the room. One figure quoted is <a href="https://www.smartcompany.com.au/industries/tourism/online-travel-booking-fed-up-small-businesses-call-accc-action/">20%</a>. Leigh says hotel owners have told him the fees are in the “<a href="https://ministers.treasury.gov.au/ministers/andrew-leigh-2022/transcripts/interview-geraldine-doogue-abc-saturday-extra">double digits</a>”, something he says is quite a lot when you consider the sites don’t need to clean the toilets, change the sheets or help on the front desk. <h2>‘Chokepoint capitalism’</h2> What this seems to mean (the treasury will find out) is almost all bookings are more expensive than they need to be because firms that sit at the “<a href="https://theconversation.com/chokepoint-capitalism-why-well-all-lose-unless-we-stop-amazon-spotify-and-other-platforms-squeezing-cash-from-creators-194069">chokepoint</a>” between buyers and sellers are squeezing sellers. A hotel could always abandon the sites and offer much cheaper prices, but for a while – perhaps forever – it will be much harder to find. In their defence, the operators of the platforms might say they need to get the best offers from hotels in order to make it worthwhile for the operators to invest in their sites, an argument the treasury is inviting them to put. In the meantime, with some hotels reluctant to put their best rates on their websites, but with them perfectly able to offer better rates over the phone, there’s a fairly simple way we can all get a better deal – and help fix the broader problem by weight of numbers. If we look up the best deal wherever we want online, and then phone and ask for a better one (or a better room), we might well find we get it. We might be saving the owner a lot of money. Leigh reckons the more we do ring up, the more the sites might feel pressure to discount their own fees, helping bring prices down even before he starts to think about writing legislation.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/196460/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/peter-martin-682709">Peter Martin</a>, Visiting Fellow, <a href="https://theconversation.com/institutions/crawford-school-of-public-policy-australian-national-university-3292">Crawford School of Public Policy, Australian National University</a> Image credits: Shutterstock This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/hotel-booking-sites-actually-make-it-hard-to-get-cheap-deals-but-theres-a-way-around-it-196460">original article</a>.

Travel Trouble

To move or not to move: is it cheaper to find a new place or stay when your rent increases by 10%?

<a href="https://theconversation.com/profiles/park-thaichon-175182">Park Thaichon</a>, <a href="https://theconversation.com/institutions/university-of-southern-queensland-1069">University of Southern Queensland</a> and <a href="https://theconversation.com/profiles/sara-quach-175976">Sara Quach</a>, <a href="https://theconversation.com/institutions/griffith-university-828">Griffith University</a> Your landlord has just raised your rent by 10% and your mind starts running the numbers – should you cop it sweet or look to move? It’s a familiar scenario in today’s unpredictable housing market. Understanding the real costs of staying versus moving is essential for making informed choices: renters must consider hidden expenses such as moving costs, deposits and changing rental rates, giving them tools to handle rising rent pressures more effectively. <h2>A grim time for many renters</h2> National median market rents have hit record highs, reaching $627 per week, with an average annual growth rate of 9.1% during the past three years, according to real estate giant <a href="https://www.aph.gov.au/About_Parliament/Parliamentary_departments/Parliamentary_Library/Budget/reviews/2024-25/Housing#:%7E:text=Based%20on%20April%202024%20CoreLogic,the%20past%203%20calendar%20years">CoreLogic</a>. <a href="https://www.corelogic.com.au/news-research/news/2024/rent-growth-picked-up-in-the-start-of-2024,-taking-rents-to-new-record-highs">CoreLogic</a> also reported annual rental changes (houses and units) in regional Australia are not far off from the big cities: annual rent changes were 9.4% for combined capital cities, 6.4% for combined regional areas, and 8.5% nationally. So, is it better to stay or move if your rent is raised by 10%? Let’s examine the costs and benefits of each option. <h2>A breakdown of typical moving costs</h2> We’ll start with the most obvious expense: moving costs. Professional moving services aren’t cheap. For example, moving a three-bedroom house in the Gold Coast costs <a href="https://www.muval.com.au/removalists/gold-coast">$1,095.25 on average</a>, with an hourly rate of $158.26. In a bigger city like Melbourne, the cost is slightly higher at <a href="https://www.muval.com.au/removalists/melbourne">about $1,118.46</a>. The moving costs between states or cities will be more expensive if you move further away. You could choose to handle packing yourself and hire some help with a truck – a common option with businesses such as “<a href="https://www.gumtree.com.au/s-removals-storage/gold-coast/2+men+and+a+truck/k0c18643l3006035">Two Men and a Truck</a>”, which typically costs around $100 per hour. Be aware, though, that the hourly rate often starts from the moment the truck leaves the company’s warehouse until it returns. Alternatively, you can rent a van for a lower price, such as $87 for a 24-hour <a href="https://www.bunnings.com.au/for-hire-handivan-24hr-first-100kms-inc-_p5470402">Handivan rental at Bunnings</a>. Don’t forget the cost of moving boxes, too: Bunnings’ 52 litre <a href="https://www.bunnings.com.au/bunnings-52l-light-duty-moving-carton_p0517130?srsltid=AfmBOoqCYAWT0P5apPiJpoOLRAIpUCHNi63ztvIZrG5CxCoNOv45G0TV">moving cartons</a> cost $2.66 each. End-of-lease or <a href="https://firstcallhomeservices.com.au/service-menu/bond-exit-end-lease-cleaning/">bond cleaning</a> is another common expense. For a typical three-bedroom property, internal cleaning can range from $365 to $500. If you have pets, or kids who love drawing on the walls, your cleaning costs might be a bit higher. Now, let’s look at utility connection expenses that can catch people by surprise. Cancelling your internet service can be costly if you don’t meet the exit or cancellation policies. With <a href="https://www.telstra.com.au/internet/5g-home-internet">Telstra Home Internet</a>, for example, if you cancel within the first 24 months, you must return your modem within 21 days to avoid a $400 non-return fee. Most providers charge a cancellation fee or require final device repayments, typically ranging from $100 to $500, depending on the remaining contract period. As a renter, it might be wise to choose a no-lock-in contract plan to avoid these fees if you need flexibility. Electricity and gas connection and disconnection fees are usually minor but can add up, often costing about $40 to $60 for <a href="https://www.energyon.com.au/fees-and-charges/">connection and disconnection fees</a> for electricity alone. If your house uses gas for hot water or cooking, you may have to pay additional fees for setting up service. However, there are also non-financial costs, like the time spent searching for a new home, attending inspections, and putting in applications. Moving takes effort and energy for packing, transporting and unpacking. Some people feel emotionally attached to their current home, which can make leaving harder. Older renters <a href="https://www.sciencedirect.com/science/article/abs/pii/S1353829218311304">seem to draw strength</a> from their familiarity with, attachment to, and enjoyment of their place and community. This is something to be considered. Plus, moving can take <a href="https://www.nature.com/articles/s41537-023-00349-w">an emotional toll</a>. <h2>The benefits of not moving</h2> The clear benefit of staying is avoiding the hassle of relocating. Staying means saving on moving expenses and avoiding the time spent searching for a new place, packing and unpacking. This may also save some people from needing to take time off work. Changing and updating an address is also another tedious task that can be avoided by staying. Moving can hit the hip pocket with “after moving costs” that people may not initially consider. For instance, a new location might mean a longer commute. If each trip adds just 15 extra minutes, that could amount to an additional 11 hours per month over 22 workdays. For drivers, increased fuel and parking expenses might also come into play. Is the current or new location closer to a supermarket, hospital, and school? This proximity could be beneficial or detrimental, depending on the surrounding environment and available services. <h2>To move or not to move?</h2> One point to note is that overall, moving costs are likely to be similar between big cities and regional areas if you get moving supplies or rent a van from a large company such as Bunnings. In the end, moving costs will be around $2,000 based on the figures above, and it can be around $800 to $1,000 cheaper if you opt to rent a van instead of using a full-service moving company. Therefore, if the current rent is $600 per week and is about to increase by 10% to $660, the additional cost would be $3,120 per year. So is it cheaper to move or stay when your rent increases by 10%? The answer is moving may save about $1,000 to $2,000, but comes with the hassle and emotional toll of relocation. Staying will be more expensive, but with less hassle and emotional strain. The right choice depends on your situation.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/243155/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/park-thaichon-175182">Park Thaichon</a>, Associate Professor of Marketing, <a href="https://theconversation.com/institutions/university-of-southern-queensland-1069">University of Southern Queensland</a> and <a href="https://theconversation.com/profiles/sara-quach-175976">Sara Quach</a>, Senior Lecturer in Marketing, <a href="https://theconversation.com/institutions/griffith-university-828">Griffith University</a> Image credits: Shutterstock This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/to-move-or-not-to-move-is-it-cheaper-to-find-a-new-place-or-stay-when-your-rent-increases-by-10-243155">original article</a>.

Money & Banking

Having the ‘right’ friends may hold the secret to building wealth, according to new study on socioeconomic ties

<a href="https://theconversation.com/profiles/brad-cannon-2216202">Brad Cannon</a>, <a href="https://theconversation.com/institutions/binghamton-university-state-university-of-new-york-2252">Binghamton University, State University of New York</a> Having wealthy people in your social network significantly boosts the likelihood that you’ll participate in stock markets and savings plans, according to a new working paper I co-authored. My colleagues and I <a href="https://www.nber.org/system/files/working_papers/w32186/w32186.pdf">recently conducted research</a> on social finance to understand the ways in which social networks affect stock market participation and savings behavior. This is important because a substantial fraction of households in the U.S., particularly <a href="https://www.axios.com/2023/10/18/percentage-americans-own-stock-market-investing">lower-income families, do not own stocks</a>. Given that the total return to the U.S. stock market from 1980 through September 2024 has been over 12,000% – for example, US$1,000 <a href="https://ofdollarsanddata.com/sp500-calculator/">invested in the S&P 500</a> in 1980 would be worth $121,350 today – this creates a disparity in wealth for those who participate relative to those who do not. Understanding why some people invest and others don’t is important for addressing social concerns such as rising inequality. In our study, we looked at <a href="https://academic.oup.com/ej/advance-article/doi/10.1093/ej/ueae074/7720537">social capital</a>, which is a measure of the value that comes from being in a group or having dense social networks. Researchers have found that social capital can have positive impacts on individuals and communities, spurring innovation, <a href="https://www.nature.com/articles/s41586-022-04996-4">economic prosperity</a> and better health outcomes. We used friendship data from Facebook to measure different aspects of social networks by county in the U.S. We combined this data with tax information from the Internal Revenue Service about investments and savings. We found that in counties where friendships with prosperous individuals are more common, investment and savings tend to be higher. Moreover, we found that having these friendships with wealthy individuals plays a more important role in shaping financial behaviors than two other aspects of social capital we looked at in our study: having a tight group of friends and living in a community with strong civic engagement. Of course, making wealthy friends alone does not guarantee you’ll invest or save more. But perhaps knowing people who invest makes it less daunting and fraught, particularly if those friends can serve as a resource and sounding board. “Friends with Benefits: Social Capital and Household Financial Behavior” was co-authored by <a href="https://www.marshall.usc.edu/personnel/david-hirshleifer">David Hirshleifer</a> and <a href="https://hankamer.baylor.edu/person/joshua-thornton">Joshua Thornton</a>.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/239370/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/brad-cannon-2216202">Brad Cannon</a>, Assistant Professor of Finance, <a href="https://theconversation.com/institutions/binghamton-university-state-university-of-new-york-2252">Binghamton University, State University of New York</a> Image credits: Shutterstock This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/having-the-right-friends-may-hold-the-secret-to-building-wealth-according-to-new-study-on-socioeconomic-ties-239370">original article</a>.

Money & Banking

Deborra-Lee Furness' friend makes bombshell claim

A friend of Hugh Jackman’s ex-wife, Deborra-Lee Furness, has claimed that rumours of the actor's affair with co-star Sutton Foster are true. British actress and photographer Amanda de Cadenet hinted that the rumours were true in the comments section of an Instagram video that alleged Hugh Jackman left his wife for Foster, after the two fell in love while starring together in The Music Man on Broadway. “You are on point with this one,” de Cadenet claimed in response. “My beloved friend Deb is about to have her glow up any moment FYI !” Page Six reportedly reached out to reps for Jackman, Foster and Furness for comment. Jackman and Furness announced their separation after 27 years of marriage in September 2023. They share two adopted children together. At the time, a source told the publication that the Wolverine actor was "devastated" by the split. In October, another source told Page Six that Foster and Jackman are "in love" but keeping their romance under wraps. Another source previously told news.co,.au they are “100 percent together and are in love and want to spend the rest of their lives together.” Image: Instagram

Relationships

‘A woman is not a baby-making machine’: a brief history of South Korea’s 4B movement – and why it’s making waves in America

<a href="https://theconversation.com/profiles/ming-gao-1496188">Ming Gao</a>, <a href="https://theconversation.com/institutions/australian-catholic-university-747">Australian Catholic University</a> In South Korea, a growing number of young women are rejecting societal expectations of marriage, motherhood and heterosexual relationships, known as the “4B Movement” or the “4 Nos”. The “B” is a homophone for the Korean word bi (비/非), meaning “no”, representing the movement’s four principles: bihon (no marriage), bichulsan (no childbirth), biyeonae (no dating) and bisekseu (no sex). By refusing to marry, have children, engage in romance, or participate in sexual relationships with men, 4B feminists seek to redefine their lives outside the confines of traditional gender roles. In the wake of the reelection of Donald Trump, there has been <a href="https://www.abc.net.au/news/2024-11-10/donald-trump-win-4b-movement-male-supremacists-make-threats/104575732">increased interest</a> in the 4B movement from women in the United States. But what is the 4B Movement, where did it come from, and how is it reshaping the feminist landscape in South Korea and beyond? <h2>Challenges facing young women</h2> The 4B Movement reflects <a href="https://www.khan.co.kr/national/national-general/article/202004140938001">a broader dissatisfaction</a> among young South Korean women who face instability of housing, digital sexual violence, economic disparities and cultural pressures. It emerged in the mid- to late-2010s, following a surge of interest in feminism in South Korea, and spread primarily through women’s online communities. The roots of the 4B Movement lie in South Korea’s rapid economic transformation and the subsequent challenges it posed for younger generations of the 2000s. For young women, economic insecurity is compounded by systemic gender inequality. South Korea <a href="https://www.straitstimes.com/asia/east-asia/south-korea-s-gender-pay-gap-worst-in-oecd">consistently ranks</a> worst in the OECD for the gender wage gap, and social mobility remains limited. Against this backdrop, traditional life paths – marriage, childbearing and homemaking – have become less appealing. Living an alternative life without men emerged as a radical strategy for young digital feminists to challenge the rigid patriarchy in South Korea. The <a href="https://www.khan.co.kr/national/national-general/article/202405172212001">senseless killing</a> in 2016 of a woman in a train station toilet by a man in Seoul shocked the nation and fuelled the movement. Online platforms became spaces where women could share their frustrations, critique patriarchal norms and organise protests. During this period communities like radical feminist online groups gained traction. Among these was the <a href="https://www.bbc.com/korean/news-44329328">Tal-Corset</a> (escape the corset) movement, which encouraged women to reject societal beauty standards by foregoing makeup, cosmetic surgery and restrictive clothing. The 4B Movement built on this momentum, targeting not only beauty standards but the very institutions that sustain patriarchy. It collectively challenges the notion that women’s value lies in their ability to support men and sustain the family unit. <h2>‘A woman is not a baby-making machine’</h2> The birth rate in South Korea ranks among the <a href="https://worldpopulationreview.com/country-rankings/birth-rate-by-country">lowest in the world</a>. The government has long viewed this as a national crisis. Policies such as subsidised housing for newlyweds and tax incentives for families have sought to encourage marriage and childbearing. In 2016, the government launched a national <a href="https://www.womennews.co.kr/news/articleView.html?idxno=248514">pink birth map</a> visualising the number of women of reproductive age in each district. It sparked outrage. Women criticised it as reducing them to reproductive tools, proclaiming, “<a href="https://www.nocutnews.co.kr/news/4713565">my womb is not national property</a>” and “<a href="https://www.youtube.com/watch?v=6FsEWD1bi3E">a woman is not a baby-making machine</a>”. For many 4B feminists, these policies represent a stark example of how the state prioritises population growth over women’s autonomy. In response, the movement frames its rejection of marriage and motherhood as an act of political resistance. As one <a href="https://www.womennews.co.kr/news/articleView.html?idxno=111598">protest slogan</a> declared: “End population policies! Stop blaming women”. <h2>Living on their own terms</h2> Despite its growing influence, the 4B Movement faces significant challenges. The radical principles have sparked backlash, with critics labelling participants as selfish or anti-social. Swearing off men as a form of protest against patriarchal structures and traditional marital norms is sometimes (mis)interpreted as implicitly favouring <a href="https://brunch.co.kr/brunchbook/radsview2">lesbianism</a>, given its stance against heterosexual relationships. The movement has also attracted negative political attention. <a href="https://www.khan.co.kr/national/national-general/article/202004140938001">Lee Seung-cheon</a>, a 58-year-old Democratic Party candidate, pledged to introduce “measures to reject the 4B Movement” as part of his policy campaign in 2020. Yet 4B feminists remain steadfast in their vision of a future where women can live on their own terms. Their rejection of traditional life paths is not a retreat into isolation but an attempt to create new ways of being free from patriarchal constraints. As one participant noted, rejecting marriage allows women to envision futures beyond societal deadlines like “<a href="https://brunch.co.kr/@404homealone/34">a woman’s age has an expiration date</a>”. <h2>An international movement</h2> The 4B Movement’s radical critique of patriarchy has resonated internationally. 4B Movement ideas are starting to strike a chord in the US. The movement’s core principles align with broader feminist critiques of patriarchy and capitalism, which have intensified in response to political developments such as Trump’s rhetoric and debates over reproductive rights. In the US, Trump’s presidency (and now his return) has been a flashpoint for feminist activism. Policies restricting access to abortion, coupled with an increase in conservative rhetoric around women’s rights, have galvanised movements that resist patriarchal structures. For American feminists, the 4B Movement offers a framework for resistance that goes beyond economic precarity. It provides a roadmap for rejecting political conflicts, focusing on reclaiming agency by prioritising autonomy over their own bodies and rights. 6B4T is inspired by the 4B Movement and has gained particular attention <a href="https://weibo.com/1263977197/KaFZGjoG4">in China</a>. This version incorporates additional principles, including rejecting consumerism and fostering mutual aid among unmarried women. The spread of 4B ideas across Asia and beyond highlights the universality of feminist struggles. As the movement continues to evolve, its impact extends beyond South Korea, sparking conversations about gender, autonomy and the future of feminism. Whether embraced or contested, the 4B Movement forces society to confront uncomfortable truths about the cost of sustaining patriarchy – and perhaps the possibilities of living without it. <hr /> Correction: 6B4T is inspired by the 4B movement and gained attention in China; it did not originate in China.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/243355/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/ming-gao-1496188">Ming Gao</a>, Research Scholar, Gender and Women's History Research Centre, <a href="https://theconversation.com/institutions/australian-catholic-university-747">Australian Catholic University</a> Image credits: Shutterstock This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/a-woman-is-not-a-baby-making-machine-a-brief-history-of-south-koreas-4b-movement-and-why-its-making-waves-in-america-243355">original article</a>.

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Borrowing money isn’t always a bad thing – debt can be a sensible way to build wealth

<a href="https://theconversation.com/profiles/bomikazi-zeka-680577">Bomikazi Zeka</a>, <a href="https://theconversation.com/institutions/university-of-canberra-865">University of Canberra</a> Debt, in some form or another, is part of our financial profiles whether we like it or not. And it can be a useful way to build wealth if it is managed carefully and wisely. For example, you may borrow money from the bank to buy an asset – a resource of economic value that generates income from its productive use. Investment property is an example. So investing in an income-producing property can be a good idea. If you are already in the property market, the home equity you’ve accumulated – the share of the property value that’s yours – can help you buy a second property. This time, you may not need a deposit as big as the initial investment. In the event that the rental market is booming and your tenants pay you more than what you repay on the loan, municipal rates and property manager fees, then the wealth-building machine will start to run itself. But debt makes many people uncomfortable. In South Africa, a person earning R20,000 a month commits on average <a href="https://businesstech.co.za/news/finance/585372/south-africas-middle-class-is-in-serious-trouble-right-now/">63% of their salary to repaying unsecured debt</a> – such as credit cards, personal loans, overdrafts or “buy now, pay later” facilities. As a general guideline, it’s suggested that <a href="https://www.investopedia.com/terms/d/dti.asp">no more than 40%</a> of your income should be used to service debt. Financial anxiety has its roots in some misconceptions. The main one is that all debt is bad. This isn’t true. Prudent borrowing to buy an asset can help build wealth in the medium to long term. So fears about debt need to be weighed against a broader understanding of wealth accumulation. Well-managed debt can play a role in that process. Here are the four biggest misconceptions about debt. Recognising them will help you develop a more nuanced approach to debt. <h2>The misconceptions</h2> All debt is bad debt. Indeed, debt is a problem when you can no longer manage it and it starts to manage you. One of the simplest ways to tell whether debt is working for you or against you is through “leveraging”. This refers to the use of debt to acquire an asset that is worth more than the value of the debt. It’s also known as positive or favourable leveraging. People who take out unsecured loans are leveraging unfavourably when the debt is driven by consumption. Often there’s nothing to show for what you’ve spent. Unsecured loans also tend to charge higher interest rates to compensate for the lack of collateral. Only financially reckless people are in debt. This is the next misconception. Second to unsecured loans, most South African consumer debt portfolios are taken up by <a href="https://businesstech.co.za/news/wealth/617685/these-income-levels-in-south-africa-owe-the-most-debt/">home loans</a>. The most realistic way to gain entry into the housing market is through a mortgage. You’re doing the right thing if your mortgage is paid off within a reasonable time. This will mean that, in the long term, the value of the property will surpass the home loan amount that was taken out to buy the property in the first place. But there are two misconceptions related specifically to mortgages. After you’ve paid the mortgage deposit, you won’t have other fees to pay. This isn’t correct. Banks charge a fee to open and close a home loan account. There can also be a penalty when a home loan is repaid prematurely. So be sure to read the fine print about discharge fees or closing costs. If you stick to the repayment amount for your mortgage, you’ll be able to repay the loan quickly. This isn’t true – even if interest rates fall and your mortgage repayments decline, your home loan is most likely tied to a loan term of 20 to 30 years. Many banks will quote a monthly mortgage repayment amount that seems affordable at face value but is in fact based on a 20-year term period. Banks are businesses and it works in their favour if you take longer to repay your mortgage because that translates into more interest repayments. The longer the duration of the home loan, the more interest you pay, the more profit they make. If it takes over 20 years to repay a bond, it’s often the case that the value of the interest repayments exceeds the initial loan amount. Home loan calculators are a useful tool that can help you assess how much you could afford to repay on a home loan depending on the deposit saved, if interest rates change and how long it will take you to repay the mortgage with topped-up contributions. It is essential to have a goal for when you’d like to finish paying off your mortgage and a plan in place to achieve this goal. If you don’t do this you could become a mortgage prisoner. <h2>Keeping your eye on the prize</h2> As we’re about to conclude the year and enter the festive season, it’s a good time to remember your financial goals and not let your guard down by unconsciously swiping or tapping that credit card. “Janu-worry” is around the corner, and so is the financial anxiety that comes with it. But it need not be the case. Debt can either be the cure or the cause of your financial position. Reconsider spending patterns that prompt you to use your credit card. Too much debt over short periods is an irregular spending pattern that is a warning sign. There’s no harm in buying what you can afford or staying in your financial lane if the alternative forces you to sacrifice your hard-earned income on servicing consumption-driven debt. For better or worse, debt is a part of our financial portfolios. But the road to financial empowerment is not always easy – financial planning can help you keep your eye on the prize.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/192630/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/bomikazi-zeka-680577">Bomikazi Zeka</a>, Assistant Professor in Finance and Financial Planning, <a href="https://theconversation.com/institutions/university-of-canberra-865">University of Canberra</a> Image credits: Shutterstock This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/borrowing-money-isnt-always-a-bad-thing-debt-can-be-a-sensible-way-to-build-wealth-192630">original article</a>.

Money & Banking

Readers response: What celebrity do you think would make a great friend, and why?

When it comes to celebrities, everyone has their favourites, their crushes, and those they'd rather steer clear of. We asked our readers what celebrity they think they would be good friends with, and the response was overwhelming. Here's what they said. Judy Yannopoulos - Keanu Reeves. A true honest person with a good heart. Jenny Maclean - Steven Fry. He’s honest and kind and so very intelligent. Jeff-Lyn Bloom - Tom Hanks. He is so down to earth. Doesn’t put on airs. Jan Totti - John Farnham, because he’s down to earth and there’s no pretences. He seems just a lovely honest person. He’s an amazing Australian singer. Caz McDougall - Michael Sheen and David Tennant. Karen Maberly - Judi Dench. Seems like a good communicator, sharp mind and full of fun, and not full of herself!! Cheryl Cunningham - Denzel Washington. Totally honest and decent human. Rhonda Moffitt - Maggie Beer. She treasures family & others. Always smiling, Maggie I think would be great company. Lisa Drury Hudson - Audrey Hepburn, for her compassion, strength, fighting for children's rights and empathy. What a loss. Bob Wilkinson - Hugh Jackson and Chris Hemsworth as they both seem like down to earth nice people. Image credits: Shutterstock

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What washing machine settings can I use to make my clothes last longer?

<a href="https://theconversation.com/profiles/alessandra-sutti-1513345">Alessandra Sutti</a>, <a href="https://theconversation.com/institutions/deakin-university-757">Deakin University</a>; <a href="https://theconversation.com/profiles/amol-patil-1513347">Amol Patil</a>, <a href="https://theconversation.com/institutions/deakin-university-757">Deakin University</a>, and <a href="https://theconversation.com/profiles/maryam-naebe-1513346">Maryam Naebe</a>, <a href="https://theconversation.com/institutions/deakin-university-757">Deakin University</a> Orbiting 400 kilometres above Earth’s surface, the astronauts on the International Space Station live a pretty normal social life, if not for one thing: they happily wear their unwashed clothes <a href="https://www.nasa.gov/centers-and-facilities/glenn/nasa-glenn-interns-take-space-washing-machine-designs-for-a-spin/">for days and weeks at a time</a>. They can’t do their laundry <a href="https://www.esa.int/Enabling_Support/Space_Engineering_Technology/Keeping_your_underwear_clean_on_the_Moon">just yet</a> because water is scarce up there. But down here on Earth, washing clothes is a large part of our lives. <a href="https://bigee.net/media/filer_public/2013/03/28/bigee_domestic_washing_machines_worldwide_potential_20130328.pdf">It’s estimated</a> that a volume of water equivalent to 21,000 Olympic swimming pools is used every day for domestic laundry worldwide. Fibres from our clothes make their way into the environment via the air (during use or in the dryer), water (washing) and soil (lint rubbish in landfill). Most of this fibre loss is invisible – we often only notice our favourite clothing is “disappearing” when it’s too late. How can you ensure your favourite outfit will outlast your wish to wear it? Simple question, complex answer. <h2>Washing machines are not gentle</h2> When you clean the filters in your washing machine and dryer, how often do you stop to think that the lint you’re holding <a href="https://theconversation.com/uk-laundry-releases-microfibres-weighing-the-equivalent-of-1-500-buses-each-year-199712">was, in fact, your clothes</a>? Laundering is harsh on our clothes, and <a href="https://journals.plos.org/plosone/article?id=10.1371/journal.pone.0250346">research confirms this</a>. Several factors play a role: the type of washing machine, the washing cycle, detergents, temperature, time, and the type of fabric and yarn construction. There are two types of domestic washing machines: top-loader and front-loader. Mechanical agitation (the way the machine moves the clothes around) is one of the things that helps ease dirt off the fabric. Top-loaders have a vertical, bucket-like basket with a paddle, which sloshes clothes around in a large volume of water. Front-loaders have a horizontal bucket which rotates, exposing the clothes to a smaller volume of water – it takes advantage of gravity, not paddles. Top-loading machines <a href="https://link.springer.com/article/10.1007/s12541-010-0047-7">tend to be more aggressive</a> towards fabrics than front-loaders due to the different mechanical action and larger volumes of water. Washing machine panels also present many choices. Shorter, low-temperature programs <a href="https://clevercare.info/more-eco-temperature-tips">are usually sufficient for everyday stains</a>. Choose longer or <a href="https://iprefer30.eu/animations/UK/wash-brochure-uk.pdf">high-temperature programs</a> only for clothing you have concerns about (healthcare uniforms, washable nappies, etc.). Generally, washing machine programs are carefully selected combinations of water volume, agitation intensity and temperature recommended by the manufacturer. They take into consideration the type of fabric and its level of cleanliness. Select the wrong program and you can say goodbye to your favourite top. For example, high temperatures or harsh agitation may cause some fibres to weaken and break, causing holes in the garment. <h2>Some fabrics lose fibres more easily than others</h2> At a microscopic level, the fabric in our clothes is made of yarns – individual fibres twisted together. The nature and length of the fibres, the way they are twisted and the way the yarns form the fabric can determine how many fibres will be lost during a wash. In general, if you want to lose fewer fibres, you should wash less frequently, but some fabrics are affected more than others. Open fabric structures (knits) with loose yarns <a href="https://www.nature.com/articles/s41598-021-98836-6">can lose more fibres</a> than tighter ones. Some sports clothing, like running shirts, are made of continuous filament yarn. These fibres are less likely to come loose in the wash. Cotton fibres are only a few centimetres long. Twisted tightly together into a yarn, they can still escape. Wool fibres are also short, but have an additional feature: scales, which make wool clothes much more delicate. Wool fibres can come loose like cotton ones, but also tangle with each other during the wash due to their scales. This last aspect is what causes wool garments to shrink when <a href="https://journals.sagepub.com/doi/abs/10.1177/004051756403400303">exposed to heat</a> and agitation. <h2>Go easy on the chemicals</h2> The type of detergent and other products you use also makes a difference. Detergents contain a soap component, enzymes to make stains easier to remove at low temperature, and fragrances. Some contain harsher compounds, such as bleaching or whitening agents. Modern detergents are very effective at <a href="https://www.choice.com.au/home-and-living/laundry-and-cleaning/laundry-detergents/review-and-compare/laundry-detergents">removing stains such as food</a>, and you don’t need to use much. An incorrect choice of wash cycles, laundry detergent and bleaching additives could cause disaster. Certain products, like bleach, can <a href="https://site.extension.uga.edu/textiles/textile-basics/understand-your-fibers/">damage some fibres like wool and silk</a>. Meanwhile, research on <a href="https://www.sciencedirect.com/science/article/pii/S0269749120366872?via%3Dihub">fabric softeners and other treatments</a> <a href="https://journals.plos.org/plosone/article/file?id=10.1371/journal.pone.0233332&type=printable">continues</a> – there’s no one-size-fits-all answer about their potential impact on our clothes. <h2>Just skip laundry day</h2> So, how to ensure your clothes last longer? The main tip is to wash them less often. When it’s time for a wash, carefully read and follow the care labels. In the future, our washing machines will <a href="https://www.teknoscienze.com/tks_article/trends-in-laundry-by-2030/">recognise fabrics and select the wash cycle</a>. For now, that’s our responsibility. And the next time you throw your shirt into the dirty laundry basket, stop. Think of the astronauts orbiting above Earth and ask yourself: if they can go without clean laundry for a few days, maybe I can too? (Although we don’t recommend just burning your dirty undies, either.)<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/224064/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <figure><iframe src="https://www.youtube.com/embed/C1j6KLP492E?wmode=transparent&start=0" width="440" height="260" frameborder="0" allowfullscreen="allowfullscreen"></iframe></figure> <a href="https://theconversation.com/profiles/alessandra-sutti-1513345">Alessandra Sutti</a>, Associate Professor, Institute for Frontier Materials, <a href="https://theconversation.com/institutions/deakin-university-757">Deakin University</a>; <a href="https://theconversation.com/profiles/amol-patil-1513347">Amol Patil</a>, Research Engineer, <a href="https://theconversation.com/institutions/deakin-university-757">Deakin University</a>, and <a href="https://theconversation.com/profiles/maryam-naebe-1513346">Maryam Naebe</a>, Associate professor, <a href="https://theconversation.com/institutions/deakin-university-757">Deakin University</a> Image credits: Shutterstock This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/what-washing-machine-settings-can-i-use-to-make-my-clothes-last-longer-224064">original article</a>.

Home & Garden

The financial reality check after a major diagnosis

Once you have received and processed your doctor’s diagnosis, take stock of the situation, because this will determine how you respond and what resources you have available to support you going forward. Who received the diagnosis – you or your spouse (if you have one)? Is it a terminal illness, chronic condition or treatable setback? If you are not yet retired, will you be able to keep working, need a period off work or will this bring forward your retirement? If leaving work temporarily, what are your prospects for re-entering the workforce? Will your partner need to leave their work to care for you (or vice versa)? Once you have clarified and considered this, spring into action as soon as possible. Revisit your spending Healthcare is expensive by any measure. Pensioners and healthcare card holders may get much or all of your treatment covered, but waiting times in the public system can be lengthy. For self-funded retirees, even with private health insurance, there can be considerable out-of-pocket costs: specialist visits, diagnostics, symptom management, physiotherapy and so on. Depending on the type of diagnosis, you may also need to modify your home (install ramps, railings etc.) and/or obtain specialist furniture and equipment. Then comes care requirements – private nurses, retirement living, hospice or palliative care. Your lifestyle may also change, and quickly. Your clothes and shoes may no longer fit if you lose weight rapidly. You may no longer be able to drive. You may need help with household chores – cleaning, cooking, gardening. Covering these requires money if you don’t have family and friends able to lend a helping hand. Carefully look at what supports your new reality demands and whether they will be one-off or ongoing expenses. Some things will need to be purchased, others could be hired to split the cost over the longer term. Secure your income Once you’ve established the impact on your ability to work and your spending needs, determine how you will pay for everything going forward. Your emergency fund can provide short-term cash if you need to stop working suddenly or fork out for large, unexpected bills. Depending on your age and circumstances, it may be worth bringing forward your retirement – allowing you to draw income from superannuation and focus more on your (or your partner’s) health. Check your insurances to see what claims you could make – having paid the premiums, now is the time make use of them. Relevant insurances include total permanent disability, income protection, trauma or critical illness cover. Meanwhile some life insurance policies may pay out based on a specialist’s diagnosis, unlocking much-needed funds sooner. Depending on your diagnosis, policy and the type of insurance, payouts may be a lump sum or smaller payments spaced out over time. Update your estate plans A major diagnosis typically elicits thoughts about mortality, legacy and how you want your loved ones to be provided for. Crucially, it may also influence factors such as guardianship of minors and pets while you are unwell/in hospital, Power of Attorney to cover important legal and financial decisions if you are incapacitated, and palliative care arrangements if required. Before heavy medications, surgeries or further deterioration of your health cloud your judgement, ensure your will and estate plans are updated to fully reflect your current needs and wishes. Look after yourself Stress, shock, anger and despair are common emotions to feel when faced with a major diagnosis. As such, it’s important you look after your mental and emotional wellbeing too. It needn’t cost a cent – you could look to free counselling services available such as Lifeline and Beyond Blue; a daily walk by the beach or through the local park; catching up with loved ones for support and companionship. Keeping your spirits up, as much as you can under the circumstances, can improve your quality of life while also helping you make clearer decisions about your health, finances and relationships – making it arguably the best investment of all. Back that up with sound legal, tax and financial advice. There is much to consider where insurance, superannuation, inheritances, Centrelink and more are involved, and you can’t know everything – especially when your focus is rightly elsewhere! Helen Baker is a licensed Australian financial adviser and author of On Your Own Two Feet: The Essential Guide to Financial Independence for all Women. Helen is among the 1% of financial planners who hold a master’s degree in the field. Proceeds from book sales are donated to charities supporting disadvantaged women and children. Find out more at <a href="http://www.onyourowntwofeet.com.au/">www.onyourowntwofeet.com.au</a> Disclaimer: The information in this article is of a general nature only and does not constitute personal financial or product advice. Any opinions or views expressed are those of the authors and do not represent those of people, institutions or organisations the owner may be associated with in a professional or personal capacity unless explicitly stated. Helen Baker is an authorised representative of BPW Partners Pty Ltd AFSL 548754. Image credits: Shutterstock

Money & Banking

Music and dementia: researchers are still making discoveries about how songs can help sufferers

<a href="https://theconversation.com/profiles/rebecca-atkinson-1288605">Rebecca Atkinson</a>, <a href="https://theconversation.com/institutions/anglia-ruskin-university-1887">Anglia Ruskin University</a> and <a href="https://theconversation.com/profiles/ming-hung-hsu-2215063">Ming-Hung Hsu</a>, <a href="https://theconversation.com/institutions/anglia-ruskin-university-1887">Anglia Ruskin University</a> Music is woven into the fabric of our everyday lives. Whether it’s lifting our spirits, pushing us to run faster or soothing us to sleep, we can all <a href="https://www.frontiersin.org/journals/psychology/articles/10.3389/fpsyg.2021.713818/full">recognise its power</a>. So it’s no wonder it is increasingly being used in medical treatment. As well as proving very useful in <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3863265/">cancer treatment</a>, managing <a href="https://www.sciencedirect.com/science/article/pii/S1526590022000153">chronic pain</a> and even helping the brain <a href="https://www.frontiersin.org/articles/10.3389/fnhum.2014.00245/full">recover after a stroke</a>, researchers have also been making great strides in using music to help patients with dementia. It reduces patients’ <a href="https://www.cochranelibrary.com/cdsr/doi/10.1002/14651858.CD003477/full">anxiety and depression</a>, and <a href="https://www.thelancet.com/journals/eclinm/article/PIIS2589-5370(23)00401-7/fulltext">improves wellbeing</a> both for them and their carers <a href="https://www.cambridge.org/core/journals/the-british-journal-of-psychiatry/article/individual-music-therapy-for-depression-randomised-controlled-trial/A1CD72904929CECCB956F4F3B09605AF">by enhancing</a> everyone’s ability to adapt and cope with adversity or stress. <a href="https://www.bamt.org">Music therapy</a> in the form of playing, singing or listening to music can also have a <a href="https://journals.sagepub.com/doi/abs/10.1177/1362361309105660">positive effect</a> on cognitive function – particularly for <a href="https://link.springer.com/article/10.1186/1472-6882-10-39">older adults</a> either with dementia or memory issues. So why does music appear to have such a powerful effect for people with dementia? <h2>Music and the brain</h2> About a decade ago, <a href="https://www.sciencedirect.com/science/article/abs/pii/S1053811911013000">researchers discovered that</a> when people listened to music, multiple areas of the brain were involved in processing it. These included the limbic (which processes emotions and memory), cognitive (involved with perception, learning and reaction) and motor areas (responsible for voluntary movement). This challenged preconceptions that music was processed more narrowly in the brain – and helped explain why it has such a unique neurological impact. Not only that, research has shown that music might help <a href="https://www.sciencedirect.com/science/article/abs/pii/S0306987708002880">regenerate the brain</a> and its connections. Many <a href="https://www.nhs.uk/conditions/dementia/about-dementia/causes/">causes of dementia</a> centre around cell death in the brain, raising the possibility that music could help people with dementia by mending or strengthening damaged neural connections and cells. It’s not just any music that has a regenerative effect on the brain, though. <a href="https://www.frontiersin.org/articles/10.3389/fnhum.2016.00103/full">Familiar and favourite music</a> has been shown to have the biggest impact on the way we feel, and is closely linked with memory and emotions. This is because listening to our favourite songs <a href="https://www.nature.com/articles/nn.2726">releases feel-good hormones</a> that give us a sense of pleasure. Curated music playlists of favourite music could be the key in helping us deal with the <a href="https://journals.sagepub.com/doi/full/10.1177/10298649211030318">stress of everyday life</a>. This is relevant to Alzheimer’s and other forms of dementia because researchers have discovered that parts of the brain linked with <a href="https://academic.oup.com/brain/article/138/8/2438/330016">musical memories</a> are less affected by these conditions than other areas of the brain. This explains why memories and experiences that are linked to <a href="https://link.springer.com/article/10.14283/jpad.2018.19">favourite music</a> are often preserved for people with such conditions. Listening to music can also <a href="https://pubmed.ncbi.nlm.nih.gov/34346261/">help manage</a> their experiences of distress, agitation and “<a href="https://www.alzheimers.org.uk/about-dementia/symptoms-and-diagnosis/symptoms/sundowning">sundowning</a>” – where a person is more confused in the afternoon and evening. In a <a href="https://www.sciencedirect.com/science/article/pii/S0197457224002209?utm_campaign=STMJ_219742_AUTH_SERV_PA&utm_medium=email&utm_acid=224973760&SIS_ID=&dgcid=STMJ_219742_AUTH_SERV_PA&CMX_ID=&utm_in=DM500444&utm_source=AC_">small study</a> conducted by us and our colleagues at the Cambridge Institute for Music Therapy Research, we showed just how great of an effect listening to music can have for people with dementia. We found that when people with dementia repeatedly listened to their favourite music, their heart rate and movements changed in direct response. This showed that people’s physical responses were affected by musical features like rhythm and arrangement. Their heart rate also changed when they sang along to music, or when they began reminiscing about old memories or stories while listening to a song or thinking about the music. These changes are important because they show how music affects movement, emotions and memory recall. Studies have also shown that during and after listening to music, people with dementia <a href="https://www.mdpi.com/2076-3425/13/7/1103">experienced less agitation</a>, aggression and anxiety, and their general mood was improved. They even needed less medication when they had regular music sessions. Other researchers have even begun testing the effects of <a href="https://onlinelibrary.wiley.com/doi/abs/10.1002/gps.4721?casa_token=VufeKQP7aNsAAAAA%3AMSOgiwUQYKqmmrLsUFv9glmSnc5BMxoqeMmmt3HX4BJX2Fs2UKeXjnN2850o1Umz0j1NvmrpQ3W3Pw">music training programmes</a> to support cognition for people with dementia. Results have been promising so far – with adults in the study showing improved executive functioning (problem solving, emotion regulation and attention) compared to those who took part in just physical exercise. So, music is likely to continue to be a useful medical treatment for people with dementia. But based on what we know so far, it’s important that it comes from the patient’s own music collection – and is used alongside other management techniques such as using drugs that can slow the progression of dementia or help manage symptoms to support self-care and wellbeing.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/239446/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/rebecca-atkinson-1288605">Rebecca Atkinson</a>, Researcher in Music Therapy, <a href="https://theconversation.com/institutions/anglia-ruskin-university-1887">Anglia Ruskin University</a> and <a href="https://theconversation.com/profiles/ming-hung-hsu-2215063">Ming-Hung Hsu</a>, Senior Research Fellow, Music Therapy, <a href="https://theconversation.com/institutions/anglia-ruskin-university-1887">Anglia Ruskin University</a> Image credits: Shutterstock This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/music-and-dementia-researchers-are-still-making-discoveries-about-how-songs-can-help-sufferers-239446">original article</a>.

Mind

Scurvy is largely a historical disease but there are signs it’s making a comeback

<a href="https://theconversation.com/profiles/lauren-ball-14718">Lauren Ball</a>, <a href="https://theconversation.com/institutions/the-university-of-queensland-805">The University of Queensland</a> Scurvy is often considered a historical ailment, conjuring images of sailors on long sea voyages suffering from a lack of fresh fruit and vegetables. Yet doctors in developed countries have recently reported treating cases of scurvy, including Australian doctors who <a href="https://casereports.bmj.com/lookup/doi/10.1136//bcr-2024-261082">reported their findings</a> today in the journal <a href="https://casereports.bmj.com/">BMJ Case Reports</a>. <h2>What is scurvy?</h2> Scurvy is a disease caused by a severe deficiency of vitamin C (ascorbic acid), which is essential for the production of collagen. This protein helps maintain the health of skin, blood vessels, bones and connective tissue. Without enough vitamin C, the body cannot properly repair tissues, heal wounds, or fight infections. This can lead to a range of <a href="https://www.degruyter.com/document/doi/10.1515/9781400884544/html">symptoms</a> including: <ul> <li>fatigue and weakness</li> <li>swollen, bleeding gums or loose teeth</li> <li>joint and muscle pain and tenderness</li> <li>bruising easily</li> <li>dry, rough or discoloured skin (reddish or purple spots due to bleeding under the skin)</li> <li>cuts and sores take longer to heal</li> <li>anaemia (a shortage of red blood cells, leading to further fatigue and weakness)</li> <li>increased susceptibility to infections.</li> </ul> <h2>It historically affected sailors</h2> Scurvy was <a href="https://pubmed.ncbi.nlm.nih.gov/23183299/">common</a> from the 15th to 18th centuries, when naval sailors and other explorers lived on rations or went without fresh food for long periods. You might have heard some of these milestones in the history of the disease: <ul> <li> in 1497-1499, Vasco da Gama’s crew <a href="https://www.thelancet.com/journals/lancet/article/PIIS0140-6736(03)13131-5/fulltext#:%7E:text=After%205%20weeks%20at%20sea,lemons%2C%20clearing%20up%20the%20condition">suffered severely from scurvy</a> during their expedition to India, with a large portion of the crew dying from it </li> <li> from the 16th to 18th centuries, scurvy was rampant among European navies and explorers, affecting notable figures such as <a href="https://www.jstor.org/stable/26305889">Ferdinand Magellan and Sir Francis Drake</a>. It was considered one of the greatest threats to sailors’ health during long voyages </li> <li> in 1747, British naval surgeon <a href="https://pmc.ncbi.nlm.nih.gov/articles/PMC3536506/">James Lind</a> is thought to have conducted one of the first clinical trials, demonstrating that citrus fruit could prevent and cure scurvy. However, it took several decades for his findings to be widely implemented </li> <li> in 1795, the British Royal Navy officially adopted the <a href="https://journals.sagepub.com/doi/pdf/10.1177/003591572601902602">practice of providing lemon or lime juice to sailors</a>, dramatically reducing the number of scurvy cases. </li> </ul> <h2>Evidence of scurvy re-emerging</h2> In the new case report, doctors in Western Australia <a href="https://casereports.bmj.com/lookup/doi/10.1136//bcr-2024-261082">reported</a> treating a middle-aged man with the condition. In a separate case report, doctors in Canada <a href="https://www.cmaj.ca/content/196/33/E1144">reported</a> treating a 65-year old woman. Both patients presented with leg weakness and compromised skin, yet the doctors didn’t initially consider scurvy. This was based on the <a href="https://www.mdpi.com/2072-6643/12/7/1963">premise</a> that there is abundant vitamin C in our modern food supply, so deficiency should not occur. On both occasions, treatment with high doses of vitamin C (1,000mg per day for at least seven days) resulted in improvements in symptoms and eventually a full recovery. The authors of both case reports are concerned that if scurvy is left untreated, it could lead to inflamed blood vessels (<a href="https://www.mayoclinic.org/diseases-conditions/vasculitis/symptoms-causes/syc-20363435">vasculitis</a>) and potentially <a href="https://www.sciencedirect.com/science/article/pii/S2211419X11001625">cause fatal bleeding</a>. Last year, a major New South Wales hospital undertook a <a href="https://www.mja.com.au/journal/2023/219/10/serum-vitamin-c-status-people-new-south-wales-retrospective-analysis-findings">chart review</a>, where patient records are reviewed to answer research questions. This found vitamin C deficiency was common. More than 50% of patients who had their vitamin C levels tested had either a modest deficiency (29.9%) or significant deficiency (24.5%). Deficiencies were more common among patients from rural and lower socioeconomic areas. Now clinicians are <a href="https://onlinelibrary.wiley.com/doi/full/10.5694/mja2.52146">urged to</a> consider vitamin C deficiency and scurvy as a potential diagnosis and involve the support of a dietitian. <h2>Why might scurvy be re-emerging?</h2> Sourcing and consuming nutritious foods with sufficient vitamin C is unfortunately <a href="https://pmc.ncbi.nlm.nih.gov/articles/PMC10260575/">still an issue</a> for some people. Factors that increase the risk of vitamin C deficiency include: <ul> <li> poor diet. People with restricted diets – due to poverty, food insecurity or dietary choices – <a href="https://pmc.ncbi.nlm.nih.gov/articles/PMC10296835/">may not get enough</a> vitamin C. This includes those who rely heavily on processed, nutrient-poor foods rather than fresh produce </li> <li> food deserts. In areas where access to fresh, affordable fruits and vegetables is limited (often referred to as food deserts), people may <a href="https://pmc.ncbi.nlm.nih.gov/articles/PMC9587807/">unintentionally suffer from a vitamin C deficiency</a>. In some parts of developing countries such as India, lack of access to fresh food is <a href="https://pmc.ncbi.nlm.nih.gov/articles/PMC10296835/">recognised as a risk</a> for scurvy </li> <li> the cost-of-living crisis. With greater numbers of people <a href="https://pmc.ncbi.nlm.nih.gov/articles/PMC10935407/">unable to pay for fresh produce</a>, people who limit their intake of fruits and vegetables may develop nutrient deficiencies, including scurvy </li> </ul> <ul> <li> weight loss procedures and medications. Restricted dietary intake due to weight loss surgery or weight loss medications may <a href="https://onlinelibrary.wiley.com/doi/full/10.1002/oby.24067">lead to nutrient deficiencies</a>, such as in this <a href="https://pmc.ncbi.nlm.nih.gov/articles/PMC3320124/">case report of scurvy</a> from Denmark </li> <li> mental illness and eating disorders. Conditions such as depression and anorexia nervosa can lead to severely restricted diets, increasing the risk of scurvy, such as in this <a href="https://pubmed.ncbi.nlm.nih.gov/32291151/">case report</a> from 2020 in Canada </li> <li> isolation. Older adults, especially those who live alone or in nursing homes, may have <a href="https://doi.org/10.1136//bcr-2024-261082">difficulty</a> preparing balanced meals with sufficient vitamin C </li> <li> certain medical conditions. People with digestive disorders, malabsorption issues, or those on restrictive medical diets (due to severe allergies or intolerances) can develop scurvy if they are <a href="https://pmc.ncbi.nlm.nih.gov/articles/PMC8248877/">unable to absorb or consume enough vitamin C</a>. </li> </ul> <h2>How much vitamin C do we need?</h2> Australia’s dietary guidelines <a href="https://www.eatforhealth.gov.au/nutrient-reference-values/nutrients/vitamin-c">recommend</a> adults consume 45mg of vitamin C (higher if pregnant or breastfeeding) each day. This is roughly the amount found in half an orange or half a cup of strawberries. When more vitamin C is <a href="https://www.abs.gov.au/statistics/health/health-conditions-and-risks/australian-health-survey-usual-nutrient-intakes/latest-release">consumed</a> than required, excess amounts leave the body through urine. Signs of scurvy can appear as early as a month after a daily intake of less than 10 mg of vitamin C. Eating vitamin C-rich foods – such as oranges, strawberries, kiwifruit, plums, pineapple, mango, capsicum, broccoli and Brussels sprouts – can resolve symptoms within a few weeks. Vitamin C is also readily available as a supplement if there are reasons why intake through food may be compromised. Typically, the supplements contain 1,000mg per tablet, and the <a href="https://www.eatforhealth.gov.au/nutrient-reference-values/nutrients/vitamin-c">recommended upper limit</a> for daily Vitamin C intake is 2,000mg.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/241894/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/lauren-ball-14718">Lauren Ball</a>, Professor of Community Health and Wellbeing, <a href="https://theconversation.com/institutions/the-university-of-queensland-805">The University of Queensland</a> Image credits: Shutterstock This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/scurvy-is-largely-a-historical-disease-but-there-are-signs-its-making-a-comeback-241894">original article</a>.

Body

Are older adults more vulnerable to scams? What psychologists have learned about who’s most susceptible, and when

<a href="https://theconversation.com/profiles/natalie-c-ebner-1527554">Natalie C. Ebner</a>, <a href="https://theconversation.com/institutions/university-of-florida-1392">University of Florida</a> and <a href="https://theconversation.com/profiles/didem-pehlivanoglu-1527551">Didem Pehlivanoglu</a>, <a href="https://theconversation.com/institutions/university-of-florida-1392">University of Florida</a> About 1 in 6 Americans <a href="https://www.census.gov/library/stories/2023/05/2020-census-united-states-older-population-grew.html">are age 65 or older</a>, and that percentage <a href="https://www.ncoa.org/article/get-the-facts-on-older-americans">is projected to grow</a>. Older adults often hold positions of power, have retirement savings accumulated over the course of their lifetimes, and make important financial and health-related decisions – all of which makes them attractive targets for financial exploitation. In 2021, there were more than 90,000 older victims of fraud, according to the FBI. These cases resulted in <a href="https://www.ic3.gov/Media/PDF/AnnualReport/2021_IC3ElderFraudReport.pdf">US$1.7 billion in losses</a>, a 74% increase compared with 2020. Even so, that may be a significant undercount, since embarrassment or lack of awareness <a href="https://assets.aarp.org/rgcenter/econ/fraud-victims-11.pdf">keeps some victims from reporting</a>. <a href="https://ncea.acl.gov/elder-abuse#gsc.tab=0">Financial exploitation</a> represents one of the most common forms of elder abuse. Perpetrators are often individuals in the victims’ inner social circles – family members, caregivers or friends – but can also be strangers. When older adults experience financial fraud, they typically <a href="https://public.tableau.com/app/profile/federal.trade.commission/viz/AgeandFraud/Infographic">lose more money</a> than younger victims. Those losses can have <a href="https://doi.org/10.1057/sj.2012.11">devastating consequences</a>, especially since older adults have limited time to recoup – dramatically reducing their independence, health and well-being. But older adults have been largely neglected in research on this burgeoning type of crime. We are <a href="https://ebnerlab.psych.ufl.edu/natalie-c-ebner-phd/">psychologists who study social cognition</a> and <a href="https://ebnerlab.psych.ufl.edu/didem-pehlivanoglu/">decision-making</a>, and <a href="https://ebnerlab.psych.ufl.edu/">our research lab</a> at the University of Florida is aimed at understanding the factors that shape vulnerability to deception in adulthood and aging. <h2>Defining vulnerability</h2> Financial exploitation involves a variety of exploitative tactics, such as coercion, manipulation, undue influence and, frequently, some sort of deception. The majority of current research focuses on <a href="https://doi.org/10.1002/acp.3052">people’s ability to distinguish between truth and lies</a> during interpersonal communication. However, deception occurs in many contexts – increasingly, over the internet. Our lab conducts laboratory experiments and real-world studies to measure susceptibility under various conditions: investment games, lie/truth scenarios, phishing emails, text messages, fake news and deepfakes – fabricated videos or images that are created by artificial intelligence technology. To study how people respond to deception, we use measures like surveys, brain imaging, behavior, eye movement and heart rate. We also collect health-related biomarkers, such as being a carrier of <a href="https://pubmed.ncbi.nlm.nih.gov/8346443/">gene variants</a> that increase risk for Alzheimer’s disease, to identify individuals with particular vulnerability. And <a href="https://doi.org/10.20900/agmr20230007">our work</a> shows that an older adult’s ability to detect deception is not just about their individual characteristics. It also depends on how they are being targeted. <figure class="align-center zoomable"><a href="https://images.theconversation.com/files/593784/original/file-20240513-16-j9zy1i.png?ixlib=rb-4.1.0&q=45&auto=format&w=1000&fit=clip"><img src="https://images.theconversation.com/files/593784/original/file-20240513-16-j9zy1i.png?ixlib=rb-4.1.0&q=45&auto=format&w=754&fit=clip" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px" srcset="https://images.theconversation.com/files/593784/original/file-20240513-16-j9zy1i.png?ixlib=rb-4.1.0&q=45&auto=format&w=600&h=339&fit=crop&dpr=1 600w, https://images.theconversation.com/files/593784/original/file-20240513-16-j9zy1i.png?ixlib=rb-4.1.0&q=30&auto=format&w=600&h=339&fit=crop&dpr=2 1200w, https://images.theconversation.com/files/593784/original/file-20240513-16-j9zy1i.png?ixlib=rb-4.1.0&q=15&auto=format&w=600&h=339&fit=crop&dpr=3 1800w, https://images.theconversation.com/files/593784/original/file-20240513-16-j9zy1i.png?ixlib=rb-4.1.0&q=45&auto=format&w=754&h=426&fit=crop&dpr=1 754w, https://images.theconversation.com/files/593784/original/file-20240513-16-j9zy1i.png?ixlib=rb-4.1.0&q=30&auto=format&w=754&h=426&fit=crop&dpr=2 1508w, https://images.theconversation.com/files/593784/original/file-20240513-16-j9zy1i.png?ixlib=rb-4.1.0&q=15&auto=format&w=754&h=426&fit=crop&dpr=3 2262w" alt="A figure with two circles and an arrow between them. One circle shows icons that symbolize individual susceptibility to deception -- like a brain, and a walking cane -- while the other has icons of types of deception, like mail or a text message." /></a><figcaption>Vulnerability depends not only on the person, but also the type of fraud being used. Natalie Ebner and Didem Pehlivanoglu</figcaption></figure> <h2>Individual risk factors</h2> Better cognition, social and emotional capacities, and brain health are all associated with less susceptibility to deception. Cognitive functions, such as how quickly our brain processes information and how well we remember it, <a href="https://doi.org/10.1177/1745691619827511">decline with age</a> and impact decision-making. For example, among people around 70 years of age or older, declines in analytical thinking are associated with <a href="https://doi.org/10.1037/xap0000426">reduced ability to detect false news stories</a>. Additionally, low memory function in aging is associated with <a href="https://doi.org/10.1093/geronb/gby036">greater susceptibility to email phishing</a>. Further, according to recent <a href="https://osf.io/preprints/osf/6f2y9">research</a>, this correlation is specifically pronounced among older adults who carry a gene variant that is a genetic risk factor for developing Alzheimer’s disease later in life. Indeed, some research suggests that greater financial exploitability may serve as <a href="https://doi.org/10.1016/j.neubiorev.2022.104773">an early marker</a> of disease-related cognitive decline. Social and emotional influences are also crucial. Negative mood can enhance somebody’s ability to detect lies, while <a href="https://doi.org/10.1037/xap0000426">positive mood in very old</a> age can impair a person’s ability to detect fake news. Lack of support and loneliness exacerbate susceptibility to deception. Social isolation during the COVID-19 pandemic has led to <a href="https://doi.org/10.1093/gerona/glaa077">increased reliance on online platforms</a>, and older adults with lower digital literacy are <a href="https://doi.org/10.1093/geront/gnac188">more vulnerable to fraudulent emails and robocalls</a>. Finally, an individual’s brain and body responses play a critical role in susceptibility to deception. One important factor is <a href="https://doi.org/10.1016/j.tins.2020.10.007">interoceptive awareness</a>: the ability to accurately read our own body’s signals, like a “gut feeling.” This awareness is correlated with <a href="https://doi.org/10.1093/geroni/igad104.3714">better lie detection</a> in older adults. According to <a href="https://doi.org/10.1093/gerona/glx051">a first study</a>, financially exploited older adults had a significantly smaller size of insula – a brain region key to integrating bodily signals with environmental cues – than older adults who had been exposed to the same threat but avoided it. Reduced insula activity is also related to greater difficulty <a href="https://doi.org/10.1073/pnas.1218518109">picking up on cues</a> that make someone appear less trustworthy. <h2>Types of effective fraud</h2> Not all deception is equally effective on everyone. <a href="https://doi.org/10.1145/3336141">Our findings</a> show that email phishing that relies on reciprocation – people’s tendency to repay what another person has provided them – was more effective on older adults. Younger adults, on the other hand, were more likely to fall for phishing emails that employed scarcity: people’s tendency to perceive an opportunity as more valuable if they are told its availability is limited. For example, an email might alert you that a coin collection from the 1950s has become available for a special reduced price if purchased within the next 24 hours. There is also evidence that as we age, we have greater difficulty detecting the “wolf in sheep’s clothing”: someone who appears trustworthy, but is not acting in a trustworthy way. In <a href="https://doi.org/10.1038/s41598-023-50500-x">a card-based gambling game</a>, we found that compared with their younger counterparts, older adults are more likely to select decks presented with trustworthy-looking faces, even though those decks consistently resulted in negative payouts. Even after learning about untrustworthy behavior, older adults showed greater difficulty overcoming their initial impressions. <h2>Reducing vulnerability</h2> Identifying who is especially at risk for financial exploitation in aging is crucial for preventing victimization. We believe interventions should be tailored, instead of a one-size-fits-all approach. For example, perhaps machine learning algorithms could someday determine the most dangerous types of deceptive messages that certain groups encounter – such as in text messages, emails or social media platforms – and provide on-the-spot warnings. Black and Hispanic consumers are <a href="https://www.ftc.gov/system/files/documents/reports/combating-fraud-african-american-latino-communities-ftcs-comprehensive-strategic-plan-federal-trade/160615fraudreport.pdf">more likely to be victimized</a>, so there is also a dire need for interventions that resonate with their communities. Prevention efforts would benefit from taking a holistic approach to help older adults reduce their vulnerability to scams. Training in <a href="https://doi.org/10.1007/s40520-019-01259-7">financial, health</a> and <a href="https://www.nature.com/articles/s41598-022-08437-0.pdf">digital literacy</a> are important, but so are programs to <a href="https://doi.org/10.1186/s12889-021-10363-1">address loneliness</a>. People of all ages need to keep these lessons in mind when interacting with online content or strangers – but not only then. Unfortunately, financial exploitation often comes from individuals close to the victim.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/227991/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/natalie-c-ebner-1527554">Natalie C. Ebner</a>, Professor of Psychology, <a href="https://theconversation.com/institutions/university-of-florida-1392">University of Florida</a> and <a href="https://theconversation.com/profiles/didem-pehlivanoglu-1527551">Didem Pehlivanoglu</a>, Postdoctoral Researcher, Psychology, <a href="https://theconversation.com/institutions/university-of-florida-1392">University of Florida</a> Image credits: Shutterstock This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/are-older-adults-more-vulnerable-to-scams-what-psychologists-have-learned-about-whos-most-susceptible-and-when-227991">original article</a>.

Money & Banking

Make your kitchen dreams a reality with Dream Doors

If you’re dreaming of a kitchen makeover, <a href="https://www.dreamdoors.co.nz/" target="_blank" rel="noopener">Dream Doors</a> is here to turn that dream into a stunning reality. This innovative brand has made waves in the kitchen renovation scene, offering a range of solutions that fit every homeowner’s style and budget. Whether you want a quick facelift or a full renovation, Dream Doors has got you covered. <h2>Versatile kitchen solutions</h2> One of the best things about Dream Doors is their flexibility. They offer both cost-effective kitchen facelifts and full renovations, making it easy for you to choose what works best for your home. Their signature kitchen facelift service is perfect for those who want to refresh their space without breaking the bank. By replacing doors, handles, benchtops and splashbacks – while keeping the existing structure intact – Dream Doors can give your kitchen a brand-new look at a fraction of the cost and time of a complete overhaul. If you’re looking for something more extensive, their full kitchen renovations are tailored just for you. Their expert team can design and create a custom kitchen that fits your needs, whether you want to stick with your current layout or start fresh. <h2>The Dream Doors difference</h2> <img class="alignnone size-full wp-image-51680" src="https://oversixtydev.blob.core.windows.net/media/2024/10/dream-doors-kitchens-home-banner_1280.jpg" alt="" width="1280" height="487" /> Expert Consultation Dream Doors knows that every kitchen is unique, which is why they offer personalised consultations with their specialist Kitchen Designers. You’ll get a free design consultation where you can share your ideas and get valuable insights on how to make your dream kitchen a reality. Their friendly experts will work closely with you to understand your vision, helping you explore different design options that suit your style and budget. With their guidance, planning your kitchen transformation becomes an exciting journey! Quality and efficiency Dream Doors is all about delivering high-quality results without the hassle. Their simple four-step process makes everything easy: <ol> <li>Free Design Consultation: Collaborate with a Kitchen Designer to create your perfect plan.</li> <li>Site Measure: Get precise measurements for a flawless fit.</li> <li>Fabrication: Custom-made elements using top-notch materials.</li> <li>Installation: Professional installation that’s on time and within budget.</li> </ol> Inspiring transformations Want some inspiration? Check out Dream Doors’ impressive <a href="https://www.dreamdoors.co.nz/before-and-afters/" target="_blank" rel="noopener">before-and-after gallery</a>! Their transformations speak volumes about their expertise and creativity. These real-life examples show just how amazing your kitchen can look after a makeover. <img class="alignnone size-full wp-image-51681" src="https://oversixtydev.blob.core.windows.net/media/2024/10/Dream_Doors_Stock_Image_00050_1280.jpg" alt="" width="1280" height="720" /> Affordable luxury Dream Doors understands that renovating your kitchen can be a big investment. That’s why they offer flexible financing options, including interest-free finance for up to 24 months (subject to approval). This means you can enjoy your gorgeous new kitchen now while spreading the cost out over time. National recognition Dream Doors has made quite an impression in the media, too. Their work has been featured on national TV shows like Selling in the City on BINGE & Foxtel on Demand. This recognition highlights just how fantastic their kitchen transformations really are. Join the Dream Doors family If you’re an entrepreneur looking to dive into the home improvement industry, Dream Doors also offers <a href="https://www.dreamdoors.co.nz/franchising/franchise-opportunities/" target="_blank" rel="noopener">exciting franchise opportunities</a>. As a franchise owner, you’ll benefit from their proven business model and established brand recognition, giving you the support you need to build a successful venture in your local area. <img class="alignnone size-full wp-image-51683" src="https://oversixtydev.blob.core.windows.net/media/2024/10/Dream_Doors_Stock_Image_00062_1280.jpg" alt="" width="1280" height="720" /> Start your Kitchen Journey today! Whether you’re eyeing a quick facelift or dreaming of a full renovation, Dream Doors is ready to help make it happen. Their mix of innovative solutions and expert advice ensures that every project is tailored just for you. Ready to take the first step? Get in touch for an obligation-free quote! The friendly team at Dream Doors is excited to guide you through the process, helping you explore all the possibilities for your dream kitchen. With Dream Doors by your side, you’re not just renovating; you’re reimagining the heart of your home. So why wait? Contact Dream Doors today and start your journey toward a kitchen you’ll love. To find out exactly how Dream Doors can help you re-imagine the most important room in your home, <a href="https://www.dreamdoors.co.nz/" target="_blank" rel="noopener">visit their website here</a>, or download the entire <a href="https://www.dreamdoors.co.nz/assets/downloads/product-brochure-v9.pdf" target="_blank" rel="noopener">Dream Doors brochure here</a>. Images: Dream Doors This is a sponsored article produced in partnership with Dream Doors

Home & Garden

10 signs you’re not on the right financial path

Dreaming of owning a big house, nice car and a boat? Or just having enough cash to be comfortable? Here are 10 signs that you are not (yet) on the path to financial freedom. 1. You don't think about ways to make extra money If you are paid a salary and nothing more, you are limited in the ways you can get ahead. The only way to save is to spend less. But if you switch it up and start to look for ways to earn more, your horizons open up. Most of the world's super wealthy have more than one income stream – some of which are usually passive, requiring no regular input. This could be something such as rental income from an investment property or the sale of a product such as an ebook. Add in some sensible savings habits and you will be on your way. 2. You leave your savings in a savings account If you stick your cash in a savings account, it is basically doing nothing. You are better to look at ways to put that money to work. You could put it in a managed fund, buy shares or even lend it out via a peer-to-peer platform, to get a better return. Make sure you get good advice to understand what you are doing. 3. You borrow to buy Borrowing to buy a house is fine. Borrowing to buy a car is (generally) not. If you are putting all your purchases on finance or credit card and paying them off with high rates of interest, you are pouring money down the drain. Live within your means if you want to get rich. 4. You don't know where your money goes The first step to getting on the right track is to have a clear idea of what you're spending money on. If you don't know, chances are you're wasting it. Have a look through your recent bank statements, draw up a budget. Stamp out some discretionary spending and you'll have more of that money to put to work that we mentioned earlier. 5. You're putting off planning for your retirement If you think you are too young to have to worry about the future, you are doing yourself a huge disservice. When you are working towards a long-term financial goal, such as retirement, time is a huge asset to have on your side. The power of compounding means that any returns you make in a vehicle such as your KiwiSaver account then attract their own returns, over and over each year until you withdraw the money. The later you start saving, the more of that compounding power you miss. 6. You hate risk It is great to be careful with your money but if you never take a risk, you miss out on returns. Over the long term, the biggest gains are usually from riskier investments, such as equities. You may also find ways to wealth by getting out of your comfort zone. Quitting your job and starting a new business is risky and scary, but could pay off if you have planned it well and know your stuff. 7. You don't have a plan If you don't know how you're going to get rich, it probably isn't going to happen. Write down your goals. What do you want to achieve this week, month and year? What about in 10 years? If you can, identify someone who is in a position you'd like to get to and find out what they did to get there. Work out what you need to do to follow suit and break it down into small, achievable steps. 8. You don't pay yourself first If you have decided to save money and think you'll just put aside everything that is left in your account at the end of the month, you will be horribly disappointed. This method almost always fails because there is invariably nothing left. Pay yourself first. Using your budget and plan, put aside the amount that you have worked out you can afford to save as soon as you get paid, and then live off the rest. 9. You think you're bad with money It's a self-fulfilling prophecy. If you think you are bad with money, you won't pay any attention to your finances and they will get out of control. Stop thinking money is some sort of secret club that you could not possibly understand. Everyone can get a handle on it. 10. You don't know the basics But having said that, it's important to get a good knowledge of the basic stuff. If you are not clear how your credit card works, or how your mortgage interest is calculated, get someone to help you break it down and bust the jargon. Websites such as Sorted have good tools or you can seek financial advice from your bank or an adviser. Image credits: Shutterstock Written by Susan Edmonds. First appeared on <a href="http://www.stuff.co.nz/" target="_blank" rel="noopener">Stuff.co.nz</a>.

Money & Banking

5 ways to reduce everyday bills

It’s not uncommon to get to the end of the month and be surprised by a figure in your bills. But this surprise needn’t be unpleasant. There is wide a range of simple measures you can employ to reduce your monthly bills without too much effort. Follow these five simple tips and save money. 1. Food and groceries Food can be a problem area in the average Australian’s budget, either because we’re physically eating too much, eating out too much or spending too much money on groceries. But that doesn’t mean you have to transition to a Spartan diet. Here’s how you can save on your grocery bill: <ul> <li>Reduce the amount of times you’re eating out or getting takeout a week</li> <li>Use a shopping list and coupons, pay for groceries (this means you’re less likely to splurge on items that you don’t need) and buy more non-perishable foods to store and save</li> <li>Consider starting a garden and grow your own fruit and veggies</li> </ul> 2. Energy Many people have found their energy bills have been increasingly steady over the past through years, but this doesn’t mean you have to be part of that trend. With a little bit of ingenuity and not a lot of fuss you can make your house energy efficient and enjoy huge power bill savings: <ul> <li>Switch to energy-efficient light bulbs. In many cases these bulbs do cost more than traditional bulbs, but they use much less energy and can last up to 10 times longer</li> <li>Unplug unused electrical devices that are draining electricity</li> <li>Make sure you home is airtight to prevent cold drafts in winter and the loss of cool air in summer. This will also reduce your heating/cooling bills accordingly</li> </ul> 3. Cars As fuel, registration and maintenance costs start to pile up, a car can seem less like a convenience and more like a money pit rolling around on four wheels. That being said, there is a range of ways you can enjoy the access vehicle ownerships provides, without having to pay through your nose: <ul> <li>Underinflated tyres reduces the value of your cars fuel economy significantly, so make sure you take a couple of minutes to check the air pressure and reinflate once a month</li> <li>Consider selling a vehicle if you’re not using it often. Without taking the cost of parking and toll roads into account driving vehicles costs thousands of dollars a year</li> <li>Use more public transport and consider setting up car pools with friends/colleagues</li> </ul> 4. Grooming and beauty Looking and feeling great is important, but it doesn’t necessarily have to be a hugely expensive ordeal. With a little bit of ingenuity, creativity and willingness to not spend $10,000 on that jewel encrusted headdress you can still be the belle/male-belle of the ball without breaking the bank: <ul> <li>Reduce the amount of money you spend on clothing by keeping your eye on sales</li> <li>Consider lower cost alternatives to your favourite beauty products</li> <li>Cut back on the amount of times you have your hair cut and styled</li> </ul> 5. Additional entertainment expenses Your deluxe gym membership might give you access to the power lifting body attack class, but are you really getting the full value for it and the other regular entertainment expenses you’ve signed up for? There are still ways to stay entertained without having to break the bank every week. <ul> <li>Consider cancelling club memberships for places you don’t visit often</li> <li>Investigate free events and inexpensive entertainment ideas like cheap movies Tuesdays</li> <li>Magazine and newspaper subscriptions can also become expensive if you’re not actually reading the papers, as well as pay television services that can be easily eliminated</li> </ul> Image credits: Shutterstock

Money & Banking

What is bankruptcy?

<a href="https://theconversation.com/profiles/jason-harris-147254">Jason Harris</a>, <a href="https://theconversation.com/institutions/university-of-sydney-841">University of Sydney</a> <blockquote> "Capitalism without insolvency is like Christianity without Hell." </blockquote> Those were the <a href="https://time.com/archive/6882727/the-growing-bankruptcy-brigade/">words</a> of former Apollo 8 commander Frank Borman, speaking as chairman of Eastern Airlines in the United States in the early 1980s. That company later <a href="https://www.airwaysmag.com/legacy-posts/eastern-files-for-chapter-11-bankruptcy">entered</a> Chapter 11 bankruptcy itself, in an attempt to deal with a staggering amount of debt. We all know what it means to run out of money, but what exactly is bankruptcy? It’s certainly been in the news a lot. Tupperware <a href="https://theconversation.com/tupperware-has-filed-for-bankruptcy-is-multi-level-marketing-in-trouble-239387">filed</a> for it last month. Two Australian airlines have <a href="https://theconversation.com/what-is-slot-hoarding-and-is-it-locking-out-regional-airlines-like-rex-235960">become insolvent</a> this year, and other Australian businesses have been going under at <a href="https://www.abc.net.au/news/2024-04-17/business-insolvencies-hit-record-highs-creditorwatch/103732960">record rates</a>. So how do companies go bankrupt – and what is bankruptcy protection under the law? What’s the famous Chapter 11? And is bankruptcy the end of the road? <h2>What exactly is bankruptcy?</h2> Sometimes, a person or company can’t pay all of their debts as they arise. In legal terms, we call this being “insolvent”. Receiving a large bill (such as a large tax bill) that you can’t pay on the day doesn’t necessarily make you insolvent. The law allows for a reasonable time to pay bills after receiving an invoice. But if large numbers of bills remain unpaid weeks or months after their due dates, it begins to suggest a person or business isn’t paying them because they actually can’t. Being unable to pay all of your debts makes you an insolvent debtor. Bankruptcy is the legal process that allows insolvent debtors to fairly resolve these debts. In Australia, insolvent individuals can file a bankruptcy petition with the <a href="https://www.afsa.gov.au/about-us/who-we-are">Official Receiver</a> in bankruptcy, a statutory office that is part of the Australian Financial Security Authority. A creditor who is owed at least $10,000 can also force another person into bankruptcy, by suing them in court and obtaining an order to make them bankrupt. For companies that can’t pay their debts, there are several options, including liquidation, voluntary administration and restructuring. More on these later. <h2>We let an expert take control</h2> When a person or company goes bankrupt, an independent external expert (or team of experts) is appointed to manage their assets and debt. For individuals, we call this person a registered bankruptcy trustee. In the case of corporate bankruptcies, we call them a registered liquidator. In both cases, the expert will take control of the debtor’s assets and affairs. They’ll be looking closely at why the debtor needed to declare bankruptcy in the first place, and whether anything can be sold to generate cash so at least some of the debt can be repaid. When a person goes bankrupt, not everything is up for grabs. The law allows them to <a href="https://www.afsa.gov.au/professionals/resource-hub/indexed-amounts#protected-property">retain</a> some basic essentials, such as clothes, furniture, tools of their trade, and a car valued at less than $9,400. Some categories of assets can also be exempt, such as superannuation and compensation for personal injuries. There are no similar extensions for corporate insolvency. All of a company’s assets are on the table. However, both types of debtor typically enter bankruptcy with few or no assets. In more than 80% of <a href="https://www.afsa.gov.au/sites/default/files/2023-12/ror_bankruptcies.xlsx">individual</a> and <a href="https://asic.gov.au/regulatory-resources/find-a-document/statistics/insolvency-statistics/insolvency-statistics-series-3-external-administrator-reports/#3.3">corporate</a> bankruptcy cases, there are no payments to the creditors they owe. <h2>Why seek bankruptcy protection?</h2> One key feature of formally filing for bankruptcy is that it imposes a “stay” on enforcement action against the debtor. This is a court order that gives the party owing money time to organise its affairs in an orderly way – such as by selling assets to raise cash. In corporate insolvency, there are formal procedures under Australia’s Corporations Act that aim to give a company the opportunity to negotiate a deal with its creditors. That might include formulating a plan to restructure, allowing it to exit insolvency and keep trading. But it could also include selling the business to a new owner so it can continue. Some large Australian companies, including <a href="https://newsroom.virginaustralia.com/release/virgin-australia-enters-voluntary-administration">Virgin Australia</a> and <a href="https://www.smh.com.au/business/companies/network-ten-heads-into-voluntary-administration-20170614-gwqo47.html">Channel Ten</a>, have previously used “voluntary administration” to save their businesses. Voluntary administration can give a company a chance to reduce its debts through a statutory compromise with creditors called a “deed of company arrangement”. This involves the majority of a company’s creditors approving a deal – usually, to compromise on some of their debt in exchange for a promise of future payments. The funds to make these payments might come from selling assets, or be a percentage of promised future profits. If successful, this can allow a company to keep operating and minimise job losses that would otherwise occur if it were simply shut down and its assets sold off – known as being “liquidated”. Once liquidated, a company will be deregistered by the Australian Securities and Investments Commission – that is, it will cease to exist as a separate company. <h2>What is Chapter 11 bankruptcy?</h2> You’ll often hear or read about companies filing for “Chapter 11” bankruptcy. This is because in the US, there is one law – the Bankruptcy Code 1978 – that covers both individuals and companies. Just like we’ve discussed in the Australian context, Chapter 11 of that law is specifically aimed at giving debtor companies a chance to enter into a deal with their creditors – to reduce their debts, sell some or all of the assets and hopefully allow at least part of the business to continue operating. This is what Tupperware did last month, following years of financial pressure. Where the law differs between Australia and the US is in the fact that Chapter 11 allows the debtor company’s management to remain in charge of the bankruptcy process. We call this “debtor-in-possession”. In Australia, in contrast, the liquidator – which acts as the administrator in a voluntary administration – remains in control of the company. Filing for bankruptcy can signal the end of a company’s operations, but not always. It may be possible for an external administrator to try to save the business or sell some or all of it to a new owner, paying down debt and preserving jobs. <hr /> This article is part of The Conversation’s “<a href="https://theconversation.com/au/topics/business-basics-157462">Business Basics</a>” series where we ask experts to discuss key concepts in business, economics and finance.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/239393/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/jason-harris-147254">Jason Harris</a>, Professor of Corporate Law, <a href="https://theconversation.com/institutions/university-of-sydney-841">University of Sydney</a> Image credits: Shutterstock This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/what-is-bankruptcy-239393">original article</a>.

Money & Banking

We tend to underestimate our future expenses – here’s one way to prevent that

<div class="theconversation-article-body"><a href="https://theconversation.com/profiles/ray-charles-chuck-howard-1361224">Ray Charles "Chuck" Howard</a>, <a href="https://theconversation.com/institutions/texas-aandm-university-1672">Texas A&M University</a>; <a href="https://theconversation.com/profiles/abigail-sussman-227057">Abigail Sussman</a>, <a href="https://theconversation.com/institutions/university-of-chicago-952">University of Chicago</a>; <a href="https://theconversation.com/profiles/david-j-hardisty-753777">David J. Hardisty</a>, <a href="https://theconversation.com/institutions/university-of-british-columbia-946">University of British Columbia</a>, and <a href="https://theconversation.com/profiles/marcel-lukas-1236384">Marcel Lukas</a>, <a href="https://theconversation.com/institutions/university-of-st-andrews-1280">University of St Andrews</a> <h2>The big idea</h2> When asked to estimate how much money they would spend in the future, people underpredicted the total amount by more than C$400 per month. However, when prompted to think about unexpected spending in addition to typical expenses, people made much more accurate predictions. These are the main findings of a series of <a href="https://doi.org/10.1177%2F00222437211068025">studies and experiments that we conducted</a> and which have just been published in the <a href="https://journals.sagepub.com/home/mrj">Journal of Marketing Research</a>. In our first study, we began by asking 187 members of a Canadian credit union to predict their weekly spending for the next five weeks. Then, at the end of each week, we asked them how much they actually spent. For the first four weeks, people underpredicted their weekly spending by about $100 per week or $400 for the month. In the study’s fifth and final week, we ran an experiment to see if we could improve people’s prediction accuracy. Specifically, we randomly assigned participants to one of two groups. In group one, participants estimated their spending for the next week just as they had done in previous weeks. These folks once again significantly underpredicted their spending. In group two, participants were asked to think of three reasons why their spending for the next week might be different than usual before making their estimate. This led them to make higher and much more accurate predictions – coming within just $7 of what they actually spent. Importantly, participants in each group spent roughly the same amount of money that week, on average. The only difference between the two groups was whether they accurately predicted that amount. <iframe id="WlDv3" class="tc-infographic-datawrapper" style="border: 0;" src="https://datawrapper.dwcdn.net/WlDv3/3/" width="100%" height="400px" frameborder="0" scrolling="no"></iframe> Next, we conducted nine experiments to better understand why people underpredict their spending and whether being prompted to think of unusual expenses helps improve accuracy. In all, over 5,800 people participated in these experiments, including a representative sample of U.S. residents. These experiments revealed two important insights. First, people primarily base their spending predictions on typical expenses like groceries, gasoline and rent. They usually fail to account for irregular – though still common – expenses like car repairs, last-minute concert tickets or one-off health care bills. This is what leads to underprediction. Second, prompting people to think of irregular expenses in addition to typical expenses helps them to make more accurate spending predictions. In our studies, people did not factor in atypical expenses unless we asked them to do so. <h2>Why it matters</h2> Helping people improve the accuracy of their spending predictions could help them improve their financial well-being. Underpredicting expenses can be costly. For example, 12 million Americans <a href="https://www.pewtrusts.org/en/research-and-analysis/reports/2012/07/19/who-borrows-where-they-borrow-and-why">borrow a total of more than $7 billion</a> in payday loans each year because they can’t meet their monthly expenses. These loans typically have extremely high interest rates – <a href="https://www.pewtrusts.org/en/research-and-analysis/data-visualizations/2022/how-well-does-your-state-protect-payday-loan-borrowers">more than 250% in some states</a>. Payday loans also come due in full so quickly that around three in four borrowers <a href="https://www.pewtrusts.org/en/research-and-analysis/reports/2012/07/19/who-borrows-where-they-borrow-and-why">end up borrowing again</a> to pay off the original loan. If consumers could better anticipate how much money they will spend in the future, it might help motivate them to spend less and save more in the present. In fact, one of our studies shows that our suggested prediction strategy <a href="https://doi.org/10.1177/0022243721106802">not only boosted spending estimates</a>, it also increased intentions to save. <h2>What’s next</h2> Members of our research team are currently investigating if, when and why underpredicting one’s expenses may be beneficial. For example, if a person sets an optimistically low budget and actively tracks their spending against it, does that help them reduce their spending? We are also investigating whether people who work in the gig economy show a corresponding tendency to mispredict their future income.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/189100/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/ray-charles-chuck-howard-1361224">Ray Charles "Chuck" Howard</a>, Assistant Professor of Marketing, <a href="https://theconversation.com/institutions/texas-aandm-university-1672">Texas A&M University</a>; <a href="https://theconversation.com/profiles/abigail-sussman-227057">Abigail Sussman</a>, Professor of Marketing, <a href="https://theconversation.com/institutions/university-of-chicago-952">University of Chicago</a>; <a href="https://theconversation.com/profiles/david-j-hardisty-753777">David J. Hardisty</a>, Assistant Professor of Marketing & Behavioral Science, <a href="https://theconversation.com/institutions/university-of-british-columbia-946">University of British Columbia</a>, and <a href="https://theconversation.com/profiles/marcel-lukas-1236384">Marcel Lukas</a>, Lecturer in Banking and Finance, <a href="https://theconversation.com/institutions/university-of-st-andrews-1280">University of St Andrews</a> Image credits: Shutterstock This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/we-tend-to-underestimate-our-future-expenses-heres-one-way-to-prevent-that-189100">original article</a>. </div>

Money & Banking

"The worst is still yet to come": Grim warning for chocolate lovers

Chocolate lovers could be facing a potential nightmare ahead of the festive season as cocoa supplies hit an all time low, driving confectionary prices to a record high. Most of the world's cocoa beans are grown in West Africa, where ongoing inclement weather and crippling crop diseases, coupled with economy-wide pressures like rising labour, packaging and energy costs, have put unprecedented pressure on the chocolate industry in recent months. However, market analyst Rabobank’s Paul Joules told <a title="www.smh.com.au" href="https://www.smh.com.au/politics/federal/why-a-global-cocoa-crunch-will-sour-chocolate-for-years-to-come-20240927-p5ke0w.html" target="_blank" rel="noopener">The Sydney Morning Herald, </a> “the worst is still yet to come for consumers”, as the stockpiles of cocoa that manufacturers have been relying on for the past 18 months have run out. “While hedging has protected many manufacturers from the worst effects of the price rises until now, eventually all these forward contracts will get used up, and prices will have to increase to reflect the current cocoa price,” Rabobank’s Soaring chocolate prices report, released last week, read. Rabobank wanted that the increased costs of manufacturing will be passed down to consumers, with dark chocolate lovers being the most affected due to the high concentration of cocoa. Analysis by Mr Joules found that, worldwide, a 100 gram block of chocolate with 70 per cent cocoa content could rise from $4.90 to $6.50, with a “similar increase could be expected in Australia”. “It can take anywhere from six to 12 months for … price hikes to be reflected in the retail pricing of products,” Saxo Head of Commodity Strategy, Ole Sloth Hansen said. “The trend of shrinkflation is likely to become more pronounced. Consequently, while there might not be a stark rise in the price tags of chocolate items, the quantity offered for the same price will see a reduction.” Image credits: Shutterstock

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"The worst is still yet to come": Grim warning for chocolate lovers