array(1) { [0]=> &object(stdClass)#4704 (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(3) "372" ["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)#4705 (3) { ["data":protected]=> object(stdClass)#4710 (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

Why the iron price boom means you pay more for an iPhone

By Cameron Micallef

September 16 2020
Share

Invest

Why the iron price boom means you pay more for an iPhone

By Cameron Micallef
September 16 2020

A strong Australian dollar spurred on by the high price of iron ore means Australians are now paying more for an iPhone relative to 12 months ago, new research has shown.

Why the iron boom means you pay more for an iPhone

Why the iron price boom means you pay more for an iPhone

By Cameron Micallef

September 16 2020
Share

A strong Australian dollar spurred on by the high price of iron ore means Australians are now paying more for an iPhone relative to 12 months ago, new research has shown.

The latest Commsec iPhone index explains that the appreciation of the Australian dollar compared with the US dollar has seen Aussies getting less value for money when purchasing a new phone, due to the price Apple charges remaining the same.

Commsec has questioned whether the Australian dollar has overshot its mark, with consumers ultimately losing out.

“The latest results add to concerns that the Aussie dollar is perhaps a little too firm at present, underpinned by the high price of iron ore,” Commsec said.

While the high price of an Australian dollar might be bad for the latest tech junkies, the high price of iron ore is great for others, as miners, including Andrew ‘Twiggy’ Forrest, collect almost $2 billion in dividend payments, following record profits from his Fortescue Metals company.

However, the miners’ strength have weakened Australians purchasing price parity with the appreciation of the Australian dollar seeing its cheap tech rating fall from 4th to 18th.

An iPhone 11, 64GB is $1,199 in Australia (US$875.18 at exchange rates sourced on 13 September). In the US, the same phone is US$699 (US$765.41 in Los Angeles with state and local taxes) – around 12.5 per cent cheaper. The price of an iPhone varies in US and Canada according to state and local taxes.

In 2019, Australia ranked as the fourth cheapest place to buy an iPhone and the third cheapest country in the world to purchase an iPad.

“Last year the Aussie dollar was near US68-69¢ and today it is closer to US72-73¢. That has meant that Australia has slipped down the global leaderboard of US dollar pricing of the latest Apple devices,” CommSec chief economist Craig James said.

Like the Big Mac index, the CommSec iPad and CommSec iPhone indexes assume that the same goods should sell for the same price across the globe once exchange rates are taken into account, with the difference that consumers can pick up an iPhone in a cheaper country.

But if you assume that the Aussie price for an iPhone should be the same price as that paid by a resident in Los Angeles, then the exchange rate should be closer to US65¢.

Again, if you assume that the Aussie price for an iPhone should be the same as China where the goods are manufactured, then the Aussie dollar is about 7.5 per cent overvalued.

Mr James said on current pricing, Aussie tourists would have saved approximately $150 by purchasing an iPad in the cheapest countries rather than in Australia.

“Unfortunately, it is a moot point given that Aussies can’t currently travel abroad and pick up bargains in the United States, Hong Kong, Japan or a number of other countries,” he said.

“The Australian dollar has appreciated by around 6 per cent against the US dollar over the past year. If our dollar hadn’t appreciated, Australia would have been the eighth cheapest place to buy an Apple iPhone in US dollar terms.”

For both iPhones and iPads, customers located in Latin America and Eastern Europe pay the highest prices in the world for the latest technology.

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

About the author

Cameron Micallef

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.

About the author

Cameron Micallef

Spending

Buy a pair, give a pair claim costs $3.5m

Eyewear retailer Oscar Wylee has been ordered by the Federal Court to pay $3.5 million in penalties for misleading or deceptive conduct and making or misleading representations about its charitable do...Read more

Spending

Single mums can afford the basics due to pandemic: report

Australian single mothers are no longer skipping meals to feed their children, being forced to wear the poorest clothing or having to steal nappies as changes to social benefits due to the COVID-19 p...Read more

Spending

Buy now, troubles later?

Almost one in three people who use buy now, pay later services is finding themselves in financial trouble, new research has found. ...Read more

Spending

Consumers push for locally made products

Australians are increasingly supporting locally produced products as the COVID-19 pandemic revealed weaknesses in the Australian economy as well as an over-reliance on foreign trading partners, accord...Read more

Spending

Petrol prices tumble but record gross margins mean you pay more

The average petrol price in the June quarter fell to its lowest level in 21 years in real inflation-adjusted terms as a result of the recent lockdowns and geopolitical tensions, but gross retail margi...Read more

Spending

Consumers’ intent to spend rises despite COVID restrictions

Australians’ intentions to spend have increased during July, despite lockdowns and border restrictions slowing down consumer spending, new research has shown. ...Read more

Spending

How are Australians spending stimulus money?

Australians have received an unprecedented amount of cash amid further government stimulus, new research has revealed. ...Read more

Spending

6.5 million Australians cut spending in anticipation of government support expiring

Millions of Australians are cutting back on spending in preparation for the easing of government and banking support, new research has revealed. ...Read more

Listen