array(1) { [0]=> &object(stdClass)#5300 (52) { ["id"]=> string(5) "15670" ["title"]=> string(37) "Capitalising on the COVID-19 pandemic" ["alias"]=> string(37) "capitalising-on-the-covid-19-pandemic" ["introtext"]=> string(208) "

More time at home means many Australians now have the opportunity to re-assess their lifestyle and spending habits and set some serious saving goals. So how can you actually go about it?

" ["fulltext"]=> string(1236) "

In this episode of The nestegg Podcast, host Grace Ormsby is joined by Melbourne-based Reventon’s Billie Christofi to talk all things finance and the impact of isolation on our hip pockets.

In stage 4 lockdown, Billie shares the importance of going back to basics when it comes to budgeting, methods to re-assess spending habits, and some of the less conventional ways people can boost their wealth at this time.

Thanks Billie, for sharing your insights with the nestegg podcast team!

Have an investment story to share? Get in touch at [email protected] and you might get featured on an upcoming episode!

" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["catid"]=> string(3) "302" ["created"]=> string(19) "2020-09-01 07:00:26" ["created_by"]=> string(4) "2386" ["created_by_alias"]=> string(0) "" ["state"]=> string(1) "1" ["modified"]=> string(19) "2020-09-02 02:50:12" ["modified_by"]=> string(4) "2386" ["modified_by_name"]=> string(12) "Grace Ormsby" ["publish_up"]=> string(19) "2020-09-02 02:50:12" ["publish_down"]=> string(19) "0000-00-00 00:00:00" ["images"]=> string(218) "{"image_intro":"images\/podcasts\/Billie_Christofi_WEB_ne.jpg","float_intro":"","image_intro_alt":"","image_intro_caption":"","image_fulltext":"","float_fulltext":"","image_fulltext_alt":"","image_fulltext_caption":""}" ["urls"]=> string(121) "{"urla":false,"urlatext":"","targeta":"","urlb":false,"urlbtext":"","targetb":"","urlc":false,"urlctext":"","targetc":""}" ["attribs"]=> string(782) "{"article_layout":"","show_title":"","link_titles":"","show_tags":"","show_intro":"","info_block_position":"","info_block_show_title":"","show_category":"","link_category":"","show_parent_category":"","link_parent_category":"","show_associations":"","show_author":"","link_author":"","show_create_date":"","show_modify_date":"","show_publish_date":"","show_item_navigation":"","show_icons":"","show_print_icon":"","show_email_icon":"","show_vote":"","show_hits":"","show_noauth":"","urls_position":"","alternative_readmore":"","article_page_title":"","video_url":"","channel_id":"UCLBR-2LtTtui_WiRuEfW3qA","show_publishing_options":"","show_article_options":"","show_urls_images_backend":"","show_urls_images_frontend":"","send":"0","test":"0","readingDiff":"3","canonical_link":""}" ["metadata"]=> string(68) "{"robots":"","author":"","rights":"","xreference":"","metatitle":""}" ["metakey"]=> string(105) "podcast, savings, financial goals, financial freedom, lockdown, pandemic, wealth, wealth creation, saving" ["metadesc"]=> string(186) "More time at home means many Australians now have the opportunity to re-assess their lifestyle and spending habits and set some serious saving goals. So how can you actually go about it?" ["access"]=> string(1) "1" ["hits"]=> string(4) "1870" ["xreference"]=> string(0) "" ["featured"]=> string(1) "0" ["language"]=> string(1) "*" ["readmore"]=> string(4) "1236" ["ordering"]=> string(1) "0" ["category_title"]=> string(7) "Podcast" ["category_route"]=> string(17) "resources/podcast" ["category_access"]=> string(1) "1" ["category_alias"]=> string(7) "podcast" ["published"]=> string(1) "1" ["parents_published"]=> string(1) "1" ["lft"]=> string(2) "82" ["author"]=> string(12) "Grace Ormsby" ["author_email"]=> string(33) "[email protected]" ["parent_title"]=> string(9) "Resources" ["parent_id"]=> string(3) "300" ["parent_route"]=> string(9) "resources" ["parent_alias"]=> string(9) "resources" ["alternative_readmore"]=> NULL ["layout"]=> NULL ["params"]=> object(Joomla\Registry\Registry)#5299 (3) { ["data":protected]=> object(stdClass)#5302 (95) { ["article_layout"]=> string(14) "momentum:newne" ["show_title"]=> string(1) "1" ["link_titles"]=> string(1) "1" ["show_intro"]=> string(1) "0" ["info_block_position"]=> string(1) "0" ["info_block_show_title"]=> string(1) "1" ["show_category"]=> string(1) "1" ["link_category"]=> string(1) "1" ["show_parent_category"]=> string(1) "0" ["link_parent_category"]=> string(1) "0" ["show_associations"]=> string(1) "0" ["flags"]=> string(1) "1" ["show_author"]=> string(1) "1" ["link_author"]=> string(1) "0" ["show_create_date"]=> string(1) "0" ["show_modify_date"]=> string(1) "1" ["show_publish_date"]=> string(1) "1" ["show_item_navigation"]=> string(1) "1" ["show_vote"]=> string(1) "1" ["show_readmore"]=> string(1) "1" ["show_readmore_title"]=> string(1) "1" ["readmore_limit"]=> string(3) "100" ["show_tags"]=> string(1) "0" ["show_icons"]=> string(1) "1" ["show_print_icon"]=> string(1) "1" ["show_email_icon"]=> string(1) "1" ["show_hits"]=> string(1) "1" ["record_hits"]=> string(1) "1" ["show_noauth"]=> string(1) "0" ["urls_position"]=> string(1) "0" ["captcha"]=> string(0) "" ["show_publishing_options"]=> string(1) "1" ["show_article_options"]=> string(1) "1" ["save_history"]=> string(1) "1" ["history_limit"]=> int(10) ["show_urls_images_frontend"]=> string(1) "0" ["show_urls_images_backend"]=> string(1) "1" ["targeta"]=> int(0) ["targetb"]=> int(0) ["targetc"]=> int(0) ["float_intro"]=> string(4) "left" ["float_fulltext"]=> string(5) "right" ["category_layout"]=> string(14) "momentum:newne" ["show_category_heading_title_text"]=> string(1) "1" ["show_category_title"]=> string(1) "1" ["show_description"]=> string(1) "0" ["show_description_image"]=> string(1) "0" ["maxLevel"]=> string(2) "-1" ["show_empty_categories"]=> string(1) "0" ["show_no_articles"]=> string(1) "1" ["show_subcat_desc"]=> string(1) "1" ["show_cat_num_articles"]=> string(1) "0" ["show_cat_tags"]=> string(1) "1" ["show_base_description"]=> string(1) "1" ["maxLevelcat"]=> string(2) "-1" ["show_empty_categories_cat"]=> string(1) "0" ["show_subcat_desc_cat"]=> string(1) "1" ["show_cat_num_articles_cat"]=> string(1) "1" ["num_leading_articles"]=> string(2) "14" ["num_intro_articles"]=> string(1) "0" ["num_columns"]=> string(1) "0" ["num_links"]=> string(1) "0" ["multi_column_order"]=> string(1) "0" ["show_subcategory_content"]=> string(2) "-1" ["show_pagination_limit"]=> string(1) "0" ["filter_field"]=> string(4) "hide" ["show_headings"]=> string(1) "1" ["list_show_date"]=> string(9) "published" ["date_format"]=> string(0) "" ["list_show_hits"]=> string(1) "0" ["list_show_author"]=> string(1) "1" ["orderby_pri"]=> string(4) "none" ["orderby_sec"]=> string(5) "rdate" ["order_date"]=> string(9) "published" ["show_pagination"]=> string(1) "2" ["show_pagination_results"]=> string(1) "1" ["show_featured"]=> string(4) "show" ["show_feed_link"]=> string(1) "1" ["feed_summary"]=> string(1) "0" ["feed_show_readmore"]=> string(1) "0" ["sef_advanced"]=> int(1) ["sef_ids"]=> int(1) ["custom_fields_enable"]=> string(1) "1" ["show_page_heading"]=> NULL ["layout_type"]=> string(4) "blog" ["menu_text"]=> int(1) ["menu_show"]=> int(1) ["page_title"]=> string(71) "Invest Money - Strategies and Tools for your Investment Goals | nestegg" ["menu-meta_description"]=> string(180) "Let us help you decide how you want to invest your money on. Learn the best strategies in investing and options like cryptocurrency, bonds, mutual funds, property and stock market." ["secure"]=> int(0) ["page_description"]=> string(7) "nestegg" ["page_rights"]=> NULL ["robots"]=> NULL ["page_heading"]=> string(71) "Invest Money - Strategies and Tools for your Investment Goals | nestegg" ["access-view"]=> bool(true) } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["displayDate"]=> string(19) "2020-09-02 02:50:12" ["slug"]=> string(43) "15670:capitalising-on-the-covid-19-pandemic" ["catslug"]=> string(11) "302:podcast" ["link"]=> string(56) "/resources/podcast/capitalising-on-the-covid-19-pandemic" ["image"]=> string(43) "images/podcasts/Billie_Christofi_WEB_ne.jpg" ["image_alt"]=> string(0) "" } }

Latest Podcast

Capitalising on the COVID-19 pandemic...

Resources

There is $17.5 billion in lost and unclaimed super across ...

Invest

New 10-year jail penalties for financial misconduct unveiled

By Lucy Dean

April 20 2018
Share

Invest

New 10-year jail penalties for financial misconduct unveiled

By Lucy Dean
April 20 2018

Individuals found to have committed serious financial crimes could find themselves jailed for 10 years under new penalties announced by the Turnbull government today.

New 10-year jail penalties for financial misconduct unveiled

By Lucy Dean

April 20 2018
Share

Individuals found to have committed serious financial crimes could find themselves jailed for 10 years under new penalties announced by the Turnbull government today.

The reforms aim to act as a “credible deterrent to unacceptable misconduct”, Treasurer Scott Morrison and Minister for Revenue and Financial Services Kelly O’Dwyer said in a joint statement today.

“These stronger new penalties will ensure that those who do the wrong thing will receive appropriate punishment,” they said.

“These reforms represent the most significant increases to the maximum civil penalties, in some instances, in more than 20 years. They bring Australia’s penalties into closer alignment with leading international jurisdictions, and ensure our penalties are a credible deterrent to unacceptable misconduct.”

The reforms under the Corporations Act mean individuals found to have committed serious financial crime offences could face up to 10 years’ imprisonment, in addition to, or in place of, either a financial penalty of $945,000 or three times the value of benefits gained or loss avoided.

Corporations could face a penalty of 10 per cent of annual turnover, a $9.45 million penalty or three times benefits – whichever is largest.

ASIC will also receive additional powers to strip miscreants of profits or losses avoided that were illegally obtained.

That’s in addition to expanded abilities to ban individuals, or revoke the financial services and credit licences of those found to be unfit, improper or incompetent.

They will also have boosted powers to use seized materials, enjoy strengthened warrant powers and have access to intercepted telecommunications material.

Ms O’Dwyer and Mr Morrison said the new penalties follow the recommendations of the ASIC Enforcement Review which was established in 2016 to review the ability of ASIC’s enforcement powers and regime.

However, the reforms also coincide with the ongoing royal commission and its fallout.

AMP CEO departs

The royal commission has so far uncovered instances of fees for no service at both AMP and Commonwealth Bank and failures in Westpac’s adviser supervision and penalty structures.

The government’s response to the Enforcement Review coincides with the departure of AMP’s CEO Craig Meller, who agreed with the AMP board this morning to step down with immediate effect.

In a statement, Mr Meller said: “I am personally devastated by the issues which have been raised publicly this week, particularly by the impact they have had on our customers, employees, planners and shareholders. This is not the AMP I know and these are not the actions our customers should expect from the company.

“I do not condone them or the misleading statements made to ASIC. However, as they occurred during my tenure as CEO, I believe that stepping down as CEO is an appropriate measure to begin the work that needs to be done to restore public and regulatory trust in AMP.”

Mr Morrison and Ms O’Dwyer said the Enforcement Review’s 20 remaining recommendations will be considered along with the final report from the royal commission.

Speaking in Geelong yesterday, Mr Morrison said the “despicable behaviour” unveiled by the royal commission carries jail sentences under the Corporations Act.

Responding to questioning around his prior reluctance to instigate a royal commission, Mr Morrison said the Enforcement Review was evidence of the Liberal Party’s desire to “act immediately, not wait”.

He said: “We've been getting on with making sure the penalties are up to scratch, we've had an enforcement taskforce working on that task for some time now, to see what additional improvements can be made.”

Forward this article to a friend. Follow us on Linkedin. Join us on Facebook. Find us on Twitter for the latest updates

Rate the article

Property

How to turn your ‘costly’ lifestyle investment into a money-making asset

Emotionally driven holiday home buyers are being advised to seek maximum rental income and depreciation benefits to make their investments viable. ...Read more

Property

Dutch e-commerce giant VidaXL ramping up Australian operations

Netherlands-based online retailer VidaXL is ramping up its operations in Australia, by launching the build of a brand new 81,000 sq m national distribution centre in Melbourne. ...Read more

Property

Invest in property or watch savings dwindle, expert warns

Money is cheaper than it’s ever been on the back of a favourable interest rate environment, compelling Aussies to shift away from other types of investment vehicles and into property investment. ...Read more

Property

Is 2021 a great year to buy property? Aussies think so

2021 is tipped to be one of the busiest years for property ever as money remains cheap and readily accessible, with a majority of Aussies agreeing that now is a good time to buy. ...Read more

Property

Young Aussies set their sights on home ownership in 2021

The COVID-19 pandemic has accelerated younger Australians’ desire to own their own home, despite affordability remaining a significant concern, new research has revealed. ...Read more

Property

HomeBuilder stimulus causing surge in new houses: ABS

Housing schemes such as HomeBuilder and historically low-interest rates are causing a surge in new properties being built in Australia, official stats have shown. ...Read more

Property

Cancelled gap years could trigger first home buyer frenzy

COVID-19’s cancellation of travel plans could fuel demand from first home buyers in Western Australia, according to a chief executive. ...Read more

Property

When will Australia crack the $1m median house price?

A property investor has predicted Australia’s median house price will surge to over $1 million in the next three years, as the economic recovery acts as a tailwind for the industry. ...Read more

Listen