In this episode, Paige Estritori from Financial Services Online covers several critical financial issues in Australia. Eric Insurance has been ordered by the Australian Financial Complaints Authority to rectify an unfairly sold GAP policy and will return the premium plus interest. A recent study from Colonial First State indicates an alarming 20% of Australians live paycheck to paycheck, with lack of affordable financial advice a major hurdle. As for work, younger generations, foreseeing extended careers, are calling for age-inclusive environments to counter all-pervasive ageism. Lastly, Ubank's study suggests that owning a home could be more affordable than renting, sparking a rise in "rentvesting," an investment strategy where buyers rent for convenience and invest in affordable properties. The podcast emphasizes the importance of sound financial practices for a prosperous life.
