Spending

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All parties should commit to stronger regulations for the BNPL sector, according to Financial Counselling Australia.

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Ahead of the election, Financial Counselling Australia (FCA) has encouraged all parties and candidates to support greater consumer safeguards for buy now, pay later (BNPL).

Around 61 per cent of financial counsellors surveyed by FCA late last year said that most or all of their clients with BNPL debt were struggling to service other living expenses.

The FCA survey also found that the number of financial counsellors who reported that half, more, or all of their clients had BNPL debt had increased from 31 per cent a year ago to 84 per cent.

“Financial counsellors are seeing people with multiple BNPL debts. They are really concerned that so many clients are using the product to cover essentials like food, medications and utility bills,” said FCA CEO Fiona Guthrie.

“We know these products cause harm. BNPL is credit and should be regulated like other credit products.”

The renewed calls from FCA come after the Labor Party committed to introducing stronger regulation for the BNPL sector if it wins the May election.

Shadow Financial Services Minister Stephen Jones told nestegg on Thursday that BNPL is a “great innovation” and that the increased competition in the retail credit market is a positive.

But he noted that Labor wants to ensure that the sector is appropriately regulated and not operating outside the flags.

“We welcome the fact that there is an industry code of practice that has been developed,” he said.

“At the moment, it doesn’t apply to everyone, so what we’ve said to industry is that we’ll have a look at how it’s operating, we’ll let it run for a bit and we’ll see where the gaps are.”

Labor also plans to consult with consumer groups to identify any gaps, from the perspective of consumers, before legislating or codifying the code.

“The ALP’s commitment is good news because it is looking to put consumer safeguards in place, however, it will not be enough to simply take the industry’s weak self-regulatory code and put that into regulation,” commented Ms Guthrie.

“Industry self-regulation of the BNPL industry is woefully inadequate. BNPL providers should, at the very least, be required by law to assess whether a person can afford to repay a BNPL debt.”

Last month, FCA and the Consumer Action Law Centre made a submission to a public inquiry by the US Consumer Financial Protection Bureau, warning about the “major flaws” of BNPL self-regulation.

The two groups called on the federal government to conduct a similar review locally, in order to improve BNPL for Australian consumers.

“It’s time the Australian government ordered an independent inquiry to find appropriate consumer safeguards to make these products safer for all,” Consumer Action Law Centre CEO Gerard Brody said.

FCA said that individuals in financial stress as well as those who may be struggling with BNPL debt can contact a free and independent financial counsellor via the National Debt Hotline.

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All parties should commit to stronger regulations for the BNPL sector, according to Financial Counselling Australia.

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Spending on retail, recreation and hospitality have continued to climb as COVID-19 case numbers and restrictions have eased.

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The Australian Bureau of Statistics (ABS) has reported a 7.7 per cent increase in household spending between February 2021 and February 2022.

Clothing and footwear recorded the biggest lift with a rise of 20.2 per cent, according to the ABS figures, ahead of recreation and culture (17.8 per cent), hotels, cafes and restaurants (15.6 per cent), and transport (15.4 per cent).

“Household spending increased in seven of the nine spending categories in February 2022, compared to February 2021,” commented ABS head of macroeconomic statistics Jacqui Vitas.

"The only categories with decreased spending over the same period were on alcoholic beverages and tobacco (-10.3 per cent) and miscellaneous goods and services (-0.8 per cent).”

Over the year, spending rose by 7.6 per cent for food, 7.1 per cent for furnishings and household equipment, and 2.2 per cent for health.

Every state and territory saw an increase annually, including the biggest rise of 13.9 per cent in Victoria on the back of much higher spending on hotels, cafes and restaurants (35.7 per cent), clothing and footwear (35 per cent) and transport (30.3 per cent).

Western Australia recorded the next biggest annual rise of 12.1 per cent, driven by greater spending on transport (25.3 per cent), hotels, cafes and restaurants (22.6 per cent) and recreation and culture (22.0 per cent).

“Fewer COVID-19 cases in February, alongside the further easing of restrictions over the month saw increased spending in recreation, hospitality and retail venues,” said Ms Vitas.

Household spending in the Northern Territory moved only 0.6 per cent over the period, however, the ABS noted that the territory had recovered from the decline seen in January.

NSW saw the second weakest annual lift (3.3 per cent), trailing Queensland (5 per cent), the ACT (5.6 per cent), South Australia (6.3 per cent) and Tasmania (8.1 per cent).

Compared to pre-pandemic estimates from January 2020, the ABS said that household spending had increased 5.6 per cent in current price, calendar-adjusted terms.

Spending on health is up 25.4 per cent on pre-pandemic levels, the biggest increase out of all categories, followed by a 13.4 per cent lift for food and a 12.2 per cent rise for furnishings and household equipment.

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Learn the best strategies in investing and options like cryptocurrency, bonds, mutual funds, proper" ["page_description"]=> string(7) "nestegg" ["page_rights"]=> NULL ["robots"]=> NULL ["check_access_rights"]=> int(0) ["access-view"]=> bool(true) } ["initialized":protected]=> bool(true) ["separator":protected]=> string(1) "." } ["displayDate"]=> string(19) "2022-04-20 00:10:51" ["slug"]=> string(60) "18213:household-spending-surges-led-by-retail-and-recreation" ["event"]=> object(stdClass)#11365 (3) { ["afterDisplayTitle"]=> string(0) "" ["beforeDisplayContent"]=> string(132) "

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Spending on retail, recreation and hospitality have continued to climb as COVID-19 case numbers and restrictions have eased.

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int(1) ["group_state"]=> int(1) ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } } ["link"]=> string(77) "/invest-money/spending/household-spending-surges-led-by-retail-and-recreation" ["image"]=> string(43) "images/article-826x550/retail-worker-ne.jpg" ["image_alt"]=> string(25) "Household spending surges" } [2]=> object(stdClass)#10863 (57) { ["id"]=> int(18035) ["title"]=> string(61) "Banks extend financial assistance to flood-affected customers" ["alias"]=> string(61) "banks-extend-financial-assistance-to-flood-affected-customers" ["introtext"]=> string(113) "

A range of assistance is available from major banks to those impacted by flooding in NSW and Queensland.

" ["fulltext"]=> string(1914) "

Flood-affected individuals will be able to defer loan repayments for up to three months as part of a range of financial assistance measures offered by Australia’s banks.

Australian Banking Association (ABA) CEO Anna Bligh said that the support aimed to provide some financial peace of mind to those impacted by flood disasters in NSW and Queensland as they face a slow road to recovery.

“Loan deferral or reduced repayment arrangements for home, personal and some business loans are being offered across individual banks,” said Ms Bligh.

“Customers are encouraged to talk to their bank, as soon as they are able, and find out what assistance is available to get them through this tough time.”

In addition to loan deferrals, members of the ABA, which include major and regional banks, may also offer to waive fees and charges, consolidate debt and restructure existing loans without establishment fees depending on an individual’s circumstances.

Other measures offered by the banks may include additional finance to help cover cashflow shortages, deferring credit card repayments and emergency credit limit increases.

“Once the worst of the emergencies are over and the clean-ups begin, we want Australians who have been impacted to know their bank is ready with tailored support to assist as they recover,” said Ms Bligh.

“The message from banks is clear: 'don’t tough it out on your own, call your bank, they are ready to help.'”

Westpac recently announced a $2 million fund for its small business customers affected by the floods which will provide a cash grant of $3,000 to cover urgent expenses and repairs.

The ABA has encouraged individuals to visit its website for more information on the financial assistance available.

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Learn the best strategies in investing and options like cryptocurrency, bonds, mutual funds, proper" ["page_description"]=> string(7) "nestegg" ["page_rights"]=> NULL ["robots"]=> NULL ["check_access_rights"]=> int(0) ["access-view"]=> bool(true) } ["initialized":protected]=> bool(true) ["separator":protected]=> string(1) "." } ["displayDate"]=> string(19) "2022-03-02 22:30:03" ["slug"]=> string(67) "18035:banks-extend-financial-assistance-to-flood-affected-customers" ["event"]=> object(stdClass)#11376 (3) { ["afterDisplayTitle"]=> string(0) "" ["beforeDisplayContent"]=> string(132) "

• Yes

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A range of assistance is available from major banks to those impacted by flooding in NSW and Queensland.

Write comment (0 Comments) " ["jcfields"]=> array(9) { [1]=> object(stdClass)#11404 (33) { ["id"]=> int(1) ["title"]=> string(17) "Automatic tagging" ["name"]=> string(17) "automatic-tagging" ["checked_out"]=> NULL ["checked_out_time"]=> NULL ["note"]=> string(0) "" ["state"]=> int(1) ["access"]=> int(1) ["created_time"]=> string(19) "2018-08-29 05:26:30" ["created_user_id"]=> int(2355) ["ordering"]=> int(-1) ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#11082 (3) { ["data":protected]=> object(stdClass)#10881 (1) { ["options"]=> object(stdClass)#10883 (2) { ["options0"]=> object(stdClass)#10884 (2) { ["name"]=> string(3) "Yes" ["value"]=> string(1) "1" } ["options1"]=> object(stdClass)#10882 (2) { ["name"]=> string(2) "No" ["value"]=> string(1) "0" } } } ["initialized":protected]=> bool(true) ["separator":protected]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#11081 (3) { ["data":protected]=> object(stdClass)#10879 (6) { ["hint"]=> 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Sydney ranked eighth globally and clinched the third spot in the Asia-Pacific data centre market as the industry continues to expand at a breakneck speed.

" ["fulltext"]=> string(6001) "

Cushman & Wakefield’s 2022 Data Centre Global Market Comparison research revealed that out of 55 global markets studied, only Sydney, Singapore, and Hong Kong in the Asia-Pacific region have made the cut to the top 10 global ranking.

It has also predicted the Asia-Pacific region’s rise “to become the world’s largest data centre region over the next decade”.

What could have fueled the massive growth of the data centre market?

As the global pandemic triggered an abrupt transition to remote work arrangements, a sharp increase in demand for cloud technology to support a workforce in dispersed locations was observed in the technology sector.

Companies like Google, Microsoft, Amazon, and Apple, technology vendors providing big-scale cloud services, have seen a heightened need for data centres to store their servers, which, in turn, have accelerated the growth of data centre builds in different parts of the world.

The Cushman & Wakefield report looked at 1,333 data centres in global markets within 13 categories, which are “potential locations for investing in, owning and operating data center facilities”.

Researchers further grouped the 13 categories into three weighted levels, comprising: fibre connectivity, market size, and cloud availability for the high-weight category; incentives, taxes, political stability, vacancy, development pipeline, sustainability, and smart cities for the mid-weight category; power cost, land price, and environmental risk for the low-weight category.

Todd Olson, head of Asia-Pacific data centre practice group at Cushman & Wakefield, said: “Asia Pacific’s outlook is exceptionally positive, with many multinational enterprises requiring further refinement in the cloud (or across multiple cloud services) and many regional governments pursuing online service access.”

Top data centre markets need to address the massive power requirements of data centres.

According to the report, current construction in the markets studied have 4.1 gigawatts (GW) capacity, a steep rise from 2.9 gigawatts in the previous study and 1.6 gigawatts from the year prior. Bigger clients requiring larger builds are looking at 100 megawatts (MW) in capacity.

When it comes to cloud availability under the high-weight category, Sydney made it to the 28 out of 55 markets, which offer the three major cloud services: Amazon Web Services, Microsoft Azure, and Google Cloud. These hyperscale cloud services account for 70-80 per cent of all leasing in any given quarter.

Another factor that helped Sydney clinch its spot is political stability, ranking 10th of all markets. According to the report, a key consideration for a data centre location is a stable political environment because a “business works best in a stable, highly functional environment”.

To assess the political stability of data centre markets, researchers used these six stability dimensions in the World Governance Indicators, developed by the World Bank: voice and accountability, political stability and absence of violence or terrorism, government effectiveness, regulatory quality, rule of law, and control of corruption.

Sustainability is another item under the mid-weight category that was aced by Sydney and earned it the second spot across 10 markets. Based on the report, data centres are a large source of carbon emissions due to their high energy requirement for operations. Markets that scored high in this category are committed to net zero carbon emissions by 2030.

The last category that helped Sydney make the cut as a top data centre market, earning it the eighth rank globally, is it being a smart city. Researchers said smart cities are “well-run and offer excellent expansion potential for career growth”, which make them “attractive places for data centre tenants and the people that work for them”.

Weighing in on all these factors, Mr Olson has given an encouraging thought for investors: “It is a great time to be investing in this sector and we look to continue leveraging our experience, expertise and access to relationships and supply to drive opportunities within both the asset and platform space.”

Kevin Imboden, Cushman & Wakefield’s director of research for the data centre advisory group, concurred and said in conclusion: “The horizon for the data centre industry across the Asia Pacific region is exceptionally bright, thanks to deep hyperscale demand and the billions of dollars in development in progress to support these key tenants.”

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Learn the best strategies in investing and options like cryptocurrency, bonds, mutual funds, proper" ["page_description"]=> string(7) "nestegg" ["page_rights"]=> NULL ["robots"]=> NULL ["check_access_rights"]=> int(0) ["access-view"]=> bool(true) } ["initialized":protected]=> bool(true) ["separator":protected]=> string(1) "." } ["displayDate"]=> string(19) "2022-01-30 23:00:50" ["slug"]=> string(61) "17903:sydney-ranks-among-top-data-centre-markets-in-the-world" ["event"]=> object(stdClass)#11387 (3) { ["afterDisplayTitle"]=> string(0) "" ["beforeDisplayContent"]=> string(132) "

• Yes

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Sydney ranked eighth globally and clinched the third spot in the Asia-Pacific data centre market as the industry continues to expand at a breakneck speed.

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Global research has provided insight into the top consumer trends for the 2022 calendar year.

" ["fulltext"]=> string(6365) "

Euromonitor International has rolled out its Top 10 Global Consumer Trends 2022 report this month, giving a picture of the emerging and fast-moving trends that are expected to gain traction in the year ahead. 

Climate-conscious behaviour

Among the trends highlighted is a growing number of “climate changes”. These, the report flagged, will be critical for companies to address head-on.

“Green activism and low-carbon lifestyles are here to stay. Consumers expect brands to step up and are taking action through the products they purchase as concerns over the climate emergency escalate,” the report noted.

“To win over Climate Changers, companies should offer products that are carbon footprint certified. Transparent labelling of carbon-neutral products builds trust and enables consumers to make informed choices.”

The report found that 78 per cent of professionals think that climate change will impact consumer demand, changing behaviours, needs and preferences.

“Millennials and Generation Z, especially, feel they can make a difference through their choices. This largest spending cohort of the future will use tools to ensure minimal climate impact. The more offerings that align with expectations of Climate Changers, the more brands will see their products and services resonate,” it said.

Digitally savvy seniors

The pandemic has seen an influx of seniors becoming better acquainted with technology, with 45 per cent of consumers aged 60+ now using a banking service on mobile at least once a week. A further 82 per cent of consumers aged 60+ owned a smartphone in 2021, the report flagged, noting that a rise in digitally savvy seniors is set to continue in 2022.

“Older consumers were forced online as the world shut down. Now, familiar and comfortable with technology, Digital Seniors are empowered to make purchases and use services through this channel. Businesses have an opportunity to tailor their digital experience to target and meet the needs of this expanded online audience,” the report said.

“The global population aged 60+ will grow 65 per cent from 2021 to 2040, reaching over two billion people. This relatively wealthy cohort is gaining more experience and confidence using online services and choosing to adopt more tech solutions that assist with their daily lives.

“Alongside browsing and shopping online, Digital Seniors embrace virtual solutions for socialising, health screenings, finances and learning. TikTok is one platform these consumers use, as a result of their digitally native grandchildren influencing and empowering them to be on social media.

“In fact, over 60 per cent of consumers aged 60+ visited a social networking website at least once a week, whilst 21 per cent took part in video gaming weekly.”

Financially focused

Another key trend impacting consumers this year will be the continuation of people becoming greater aware of their finances and what they can do with them, the report found.

“Consumers are gaining confidence in investing and becoming savvy savers to strengthen financial security. Financial Aficionados take control of their money and use services to track their transactions. Financial literacy is no longer restricted to Wall Street. Companies should provide tools and easy-to-use solutions to make any consumer feel financially empowered,” the report said.

According to the report, 51 per cent of consumers believe they will be better off financially in the next five years.

“The banked population across emerging and developed countries continues to increase, giving consumers access to money management tools. Businesses are capitalising on this newfound financial freedom and are responding with resources that give consumers more control and confidence,” the report said.

“There has been an influx of consumer-friendly retail trading platforms for Financial Aficionados to invest their money in the stock market. Fintech startups are providing digital banking services with lower fees and higher interest rates to the unbanked and financially underserved.

“Offering educational resources within these platforms can help build consumer confidence and brand trust. Companies are also capitalising on the growth of cryptocurrencies as an alternative payment method.”

‘The Metaverse Movement’

Simulated, 3D digital ecosystems of the future will become a key focus area for consumers in 2022 and beyond, the report said, flagging that 38 per cent of consumers took part in online video gaming at least weekly in 2021. This figure is up from 29 per cent in 2015.

“The digital world is evolving beyond virtual hangouts to immersive 3D realities,” it explained.

“Consumers are embracing these digital spaces to socialise with communities. Brands at the centre of The Metaverse Movement can build equity. These immersive environments can drive e-commerce and virtual product sales as access expands.”

Further, the report noted that finding a digital identity has become more important for consumers off the back of lockdowns spurred by the pandemic.

“Physical and virtual worlds collided last year. With strict social distancing requirements, consumers learned how to stay connected, forming new online communities that offer a range of interactivity, from livestreaming to gaming,” it said.

“Social networks are advancing their capabilities, and in some cases, acquiring tech startups, to enter The Metaverse Movement.

“The constant stream of content and ability to go viral on video-dominant social platforms like TikTok and YouTube showcase the influence of community-based networks. Now, online socialisation is the preferred form of entertainment for many consumers, particularly younger generations, who spend more time playing games on mobile, desktop and AR / VR headsets.

“During The Metaverse Movement, consumers will outfit their avatars to explore virtual worlds alongside users from across the globe. The prevalence of shared, 3D virtual spaces will characterise a future rendition of the internet.”

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Global research has provided insight into the top consumer trends for the 2022 calendar year.

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Strong spending over the Christmas shopping period in December has been followed by a weaker January.

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The lifting of Delta restrictions, high household savings and strong Christmas trading delivered a surge in spending during December, according to the Commonwealth Bank.

The CommBank Household Spending Intentions Index moved up by 2.5 per cent to 115 in December, which the bank said was the highest level since the series commenced in July 2017.

“December is generally a seasonally strong time for retail due to Christmas shopping,” said CBA senior economist Belinda Allen.

“However, this was compounded by the fact that December 2021 marked the end of restrictions post Delta and there was accumulated household savings, which led to a strong surge in spending.”

CBA economists estimated that household savings totalled $260 billion as of the end of 2021.

Travel saw the biggest increase in spending intentions in December with a rise of 28.1 per cent. Spending on travel was also up 20.9 per cent compared to December 2020 but remained lower than December 2019.

Transport spending intentions lifted 11.8 per cent, driven by higher petrol prices, while retail spending intentions were up 10.8 per cent.

“The Omicron variant, which has led to a surge in COVID cases late in December and into January, is an important development to watch. It is impacting the demand and supply side of the Australian economy,” noted Ms Allen.

“We can see from our high frequency credit and debit card data there does appear to be a fall in spending in January, with spending on services more impacted than goods spending.”

According to CBA economist Stephen Wu, spending so far in January was 3 per cent lower than would be expected otherwise.

“With a large number of people in isolation we have seen spending on services slow sharply. However, spending on goods has held up well,” he said.

“Online spending growth remains firm, while in-store spending is a little lower.”

These findings were also reflected in recent data released by ANZ, which recorded a decline in spending overall and a shift to online spending for both dining and non-food retailing.

Mr Wu said that spending on transport and recreation was down, while spending on eating out remained broadly steady.

“Given the number of COVID cases, spending on medical and healthcare has been strong over recent weeks,” he noted.

“This category includes spending in pharmacies. Purchases of rapid antigen tests, pain relief and other supplies to help with the virus is likely supporting spending in this category.”

Western Australia was highlighted as an exception to the lower levels of spending seen elsewhere, with strong spending across a number of categories, according to CBA.

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Learn the best strategies in investing and options like cryptocurrency, bonds, mutual funds, proper" ["page_description"]=> string(7) "nestegg" ["page_rights"]=> NULL ["robots"]=> NULL ["check_access_rights"]=> int(0) ["access-view"]=> bool(true) } ["initialized":protected]=> bool(true) ["separator":protected]=> string(1) "." } ["displayDate"]=> string(19) "2022-01-19 23:45:34" ["slug"]=> string(58) "17879:household-spending-takes-a-hit-after-strong-december" ["event"]=> object(stdClass)#11409 (3) { ["afterDisplayTitle"]=> string(0) "" ["beforeDisplayContent"]=> string(132) "

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Strong spending over the Christmas shopping period in December has been followed by a weaker January.

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["type"]=> string(3) "url" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> int(3) ["label"]=> string(17) "First article URL" ["description"]=> string(0) "" ["required"]=> int(0) ["only_use_in_subform"]=> int(0) ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(16) "Related Articles" ["group_access"]=> int(1) ["group_state"]=> int(1) ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [8]=> object(stdClass)#11439 (33) { ["id"]=> int(8) ["title"]=> string(18) "Second article URL" ["name"]=> string(18) "second-article-url" ["checked_out"]=> NULL ["checked_out_time"]=> NULL ["note"]=> string(0) "" ["state"]=> int(1) ["access"]=> int(1) ["created_time"]=> string(19) "2020-07-08 05:42:04" ["created_user_id"]=> int(2351) ["ordering"]=> int(0) ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#10878 (3) { ["data":protected]=> object(stdClass)#11067 (1) { ["relative"]=> string(0) "" } ["initialized":protected]=> bool(true) ["separator":protected]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#10876 (3) { ["data":protected]=> object(stdClass)#11062 (10) { ["hint"]=> string(0) "" ["class"]=> string(0) "" ["label_class"]=> string(0) "" ["show_on"]=> string(1) "2" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator":protected]=> string(1) "." } ["type"]=> string(3) "url" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> int(3) ["label"]=> string(18) "Second article URL" ["description"]=> string(0) "" ["required"]=> int(0) ["only_use_in_subform"]=> int(0) ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(16) "Related Articles" ["group_access"]=> int(1) ["group_state"]=> int(1) ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [9]=> object(stdClass)#11438 (33) { ["id"]=> int(9) ["title"]=> string(17) "Third article URL" ["name"]=> string(17) "third-article-url" ["checked_out"]=> NULL ["checked_out_time"]=> NULL ["note"]=> string(0) "" ["state"]=> int(1) ["access"]=> int(1) ["created_time"]=> string(19) "2020-07-08 05:42:42" ["created_user_id"]=> int(2351) ["ordering"]=> int(0) ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#11068 (3) { ["data":protected]=> object(stdClass)#11058 (1) { ["relative"]=> string(0) "" } ["initialized":protected]=> bool(true) ["separator":protected]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#11061 (3) { ["data":protected]=> object(stdClass)#11066 (10) { ["hint"]=> string(0) "" ["class"]=> string(0) "" ["label_class"]=> string(0) "" ["show_on"]=> string(1) "2" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator":protected]=> string(1) "." } ["type"]=> string(3) "url" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> int(3) ["label"]=> string(17) "Third article URL" ["description"]=> string(0) "" ["required"]=> int(0) ["only_use_in_subform"]=> int(0) ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(16) "Related Articles" ["group_access"]=> int(1) ["group_state"]=> int(1) ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [4]=> object(stdClass)#11436 (33) { ["id"]=> int(4) ["title"]=> string(9) "Video URL" ["name"]=> string(9) "video-url" ["checked_out"]=> NULL ["checked_out_time"]=> NULL ["note"]=> string(0) "" ["state"]=> int(1) ["access"]=> int(1) ["created_time"]=> string(19) "2020-06-19 05:54:21" ["created_user_id"]=> int(2351) ["ordering"]=> int(1) ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#11065 (3) { ["data":protected]=> object(stdClass)#11063 (2) { ["filter"]=> string(0) "" ["maxlength"]=> string(0) "" } ["initialized":protected]=> bool(true) ["separator":protected]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#11064 (3) { ["data":protected]=> object(stdClass)#11092 (10) { ["hint"]=> string(0) "" ["class"]=> string(0) "" ["label_class"]=> string(0) "" ["show_on"]=> string(1) "2" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator":protected]=> string(1) "." } ["type"]=> string(4) "text" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> int(2) ["label"]=> string(9) "Video URL" ["description"]=> string(0) "" ["required"]=> int(0) ["only_use_in_subform"]=> int(0) ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(22) "Summary points + video" ["group_access"]=> int(1) ["group_state"]=> int(1) ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [6]=> object(stdClass)#11424 (33) { ["id"]=> int(6) ["title"]=> string(33) "Image Caption / Video description" ["name"]=> string(31) "image-caption-video-description" ["checked_out"]=> NULL ["checked_out_time"]=> NULL ["note"]=> string(0) "" ["state"]=> int(1) ["access"]=> int(1) ["created_time"]=> string(19) "2020-06-25 16:29:55" ["created_user_id"]=> int(2351) ["ordering"]=> int(2) ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#11060 (3) { ["data":protected]=> object(stdClass)#11094 (2) { ["filter"]=> string(0) "" ["maxlength"]=> string(0) "" } ["initialized":protected]=> bool(true) ["separator":protected]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#11091 (3) { ["data":protected]=> object(stdClass)#11096 (10) { ["hint"]=> string(0) "" ["class"]=> string(0) "" ["label_class"]=> string(0) "" ["show_on"]=> string(0) "" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator":protected]=> string(1) "." } ["type"]=> string(4) "text" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> int(2) ["label"]=> string(33) "Image Caption / Video description" ["description"]=> string(0) "" ["required"]=> int(0) ["only_use_in_subform"]=> int(0) ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(22) "Summary points + video" ["group_access"]=> int(1) ["group_state"]=> int(1) ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [3]=> object(stdClass)#11445 (33) { ["id"]=> int(3) ["title"]=> string(6) "Status" ["name"]=> string(6) "status" ["checked_out"]=> NULL ["checked_out_time"]=> NULL ["note"]=> string(0) "" ["state"]=> int(1) ["access"]=> int(1) ["created_time"]=> string(19) "2020-06-20 01:45:26" ["created_user_id"]=> int(2351) ["ordering"]=> int(3) ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#11093 (3) { ["data":protected]=> object(stdClass)#11101 (1) { ["options"]=> object(stdClass)#11099 (2) { ["options0"]=> object(stdClass)#11098 (2) { ["name"]=> string(8) "Inactive" ["value"]=> string(1) "0" } ["options1"]=> object(stdClass)#11100 (2) { ["name"]=> string(6) "Active" ["value"]=> string(1) "1" } } } ["initialized":protected]=> bool(true) ["separator":protected]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#11095 (3) { ["data":protected]=> object(stdClass)#11103 (10) { ["hint"]=> string(0) "" ["class"]=> string(9) "btn-group" ["label_class"]=> string(0) "" ["show_on"]=> string(0) "" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator":protected]=> string(1) "." } ["type"]=> string(5) "radio" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> int(2) ["label"]=> string(6) "Status" ["description"]=> string(0) "" ["required"]=> int(0) ["only_use_in_subform"]=> int(0) ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(22) "Summary points + video" ["group_access"]=> int(1) ["group_state"]=> int(1) ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [5]=> object(stdClass)#11341 (33) { ["id"]=> int(5) ["title"]=> string(22) " Essential information" ["name"]=> string(21) "essential-information" ["checked_out"]=> NULL ["checked_out_time"]=> NULL ["note"]=> string(0) "" ["state"]=> int(1) ["access"]=> int(1) ["created_time"]=> string(19) "2020-06-25 06:10:20" ["created_user_id"]=> int(2351) ["ordering"]=> int(4) ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#11097 (3) { ["data":protected]=> object(stdClass)#11105 (4) { ["buttons"]=> string(0) "" ["width"]=> string(0) "" ["height"]=> string(0) "" ["filter"]=> string(0) "" } ["initialized":protected]=> bool(true) ["separator":protected]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#11102 (3) { ["data":protected]=> object(stdClass)#11107 (10) { ["hint"]=> string(0) "" ["class"]=> string(0) "" ["label_class"]=> string(0) "" ["show_on"]=> string(0) "" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator":protected]=> string(1) "." } ["type"]=> string(6) "editor" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> int(2) ["label"]=> string(22) " Essential information" ["description"]=> string(35) "3 points that summarize the article" ["required"]=> int(0) ["only_use_in_subform"]=> int(0) ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(22) "Summary points + video" ["group_access"]=> int(1) ["group_state"]=> int(1) ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [2]=> object(stdClass)#11444 (33) { ["id"]=> int(2) ["title"]=> string(14) "Embedded Video" ["name"]=> string(14) "embedded-video" ["checked_out"]=> NULL ["checked_out_time"]=> NULL ["note"]=> string(0) "" ["state"]=> int(1) ["access"]=> int(1) ["created_time"]=> string(19) "2020-06-20 01:43:32" ["created_user_id"]=> int(2351) ["ordering"]=> int(5) ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#11104 (3) { ["data":protected]=> object(stdClass)#11109 (4) { ["buttons"]=> string(0) "" ["width"]=> string(0) "" ["height"]=> string(0) "" ["filter"]=> string(0) "" } ["initialized":protected]=> bool(true) ["separator":protected]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#11106 (3) { ["data":protected]=> object(stdClass)#11111 (10) { ["hint"]=> string(29) "Paste your embedded code here" ["class"]=> string(0) "" ["label_class"]=> string(0) "" ["show_on"]=> string(1) "2" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator":protected]=> string(1) "." } ["type"]=> string(6) "editor" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> int(2) ["label"]=> string(14) "Embedded Video" ["description"]=> string(0) "" ["required"]=> int(0) ["only_use_in_subform"]=> int(0) ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(22) "Summary points + video" ["group_access"]=> int(1) ["group_state"]=> int(1) ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } } ["link"]=> string(75) "/invest-money/spending/household-spending-takes-a-hit-after-strong-december" ["image"]=> string(45) "images/article-826x550/grocery-kitchen-ne.jpg" ["image_alt"]=> string(18) "Household spending" } }