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The cost-of-living crisis is hitting hard. Here are 3 ways to soften the blow

<a href="https://theconversation.com/profiles/ama-samarasinghe-1386754">Ama Samarasinghe</a>, <a href="https://theconversation.com/institutions/rmit-university-1063">RMIT University</a> As our wallets feel the strain from the cost-of-living crisis, many of us are looking for ways to soften the blow. While everyone’s circumstances are different, and ideally you should seek help from an accredited financial adviser, there are some tried and true ways to work out where all your money is going and why. Here are three practical tips to reduce the impact of the cost-of-living increases, and stretch every hard-earned dollar. <h2>1. Hunt for a better loan rate</h2> For many households, the biggest hit comes from the mortgage, so start there. Even a modest 0.5% reduction can translate into substantial savings. Call your bank today and just ask for rate reduction. If the answer is no, consider shopping around for a different lender. Your loyalty to your current lender might be costing you more than you realise. Banks often reserve their most attractive rates for new customers, leaving long-time customers paying higher-than-necessary interest. Even if your bank does agree to a rate reduction, explore the market anyway. There is a range of free rate-comparison websites, or you can directly check individual bank websites. If you find a lender offering a better rate, you might consider calling the competing bank to ask about switching your mortgage to them. Or, you might seek assistance from a mortgage broker, who can guide you through the process of securing a better deal (just remember they often take <a href="https://www.canstar.com.au/home-loans/mortgage-brokers-fees/">commissions</a> from lenders). Tread carefully and factor in any exit fees or charges from your current lender. Refinancing isn’t without risk, so a thorough cost-benefit analysis is important before making the switch. Also consider the value of features such as <a href="https://moneysmart.gov.au/glossary/offset-account">offset accounts</a>. An offset account, linked to your home loan, allows you to deposit money such as your salary and savings. This money is then “<a href="https://www.rba.gov.au/publications/smp/2015/aug/box-e-offset-account-balances-and-housing-credit.html">offset</a>” against your home loan balance. That means you only pay interest on the outstanding amount (the loan minus whatever salary and savings you put in the offset). This can accelerate loan repayment and reduce interest costs. Keep in mind that offset accounts are typically only available with variable interest rates. Offset accounts work best if you have considerable savings to put into the offset account that outweigh the additional fees and charges attached to offset accounts. <h2>2. Trim your expenses and uncover hidden savings</h2> It’s time to become a budget detective, identifying and cutting down on non-essential costs that might be quietly draining your wallet. Take a close look at those recurring memberships and subscriptions. How often do you actually use that gym membership or streaming service? Many banking apps have handy spending tracking features to help you set realistic budget goals for each spending category. According to the <a href="https://www.abs.gov.au/statistics/economy/price-indexes-and-inflation/selected-living-cost-indexes-australia/latest-release">Australian Bureau of Statistics</a>, insurance and financial services are among the top risers in living cost indexes (which measure the price change of goods and services and its effect on living expenses). So search comparison websites for better insurance premiums. Australia’s insurance market is competitive, and you can often get discounts by bundling your insurances together (for example, having your home and contents insurance with the same company that also provides your car insurance). However, don’t shy away from exploring different insurers for potentially better value. Don’t overlook energy costs, either. Use comparison websites like <a href="https://www.energymadeeasy.gov.au/">Energy Made Easy</a> (or, if you’re in Victoria, the <a href="https://compare.energy.vic.gov.au/">Victorian Energy Compare</a> site) to find more cost-effective energy plans. Stay updated on rebates and concessions via the federal government’s <a href="https://energy.gov.au">Energy.gov.au</a> site, to ensure you’re maximising your entitlements. Use less energy, if you can. Small adjustments can make a significant dent in your bills. And for fuel costs, find websites and applications that allow you to lock in the lowest prices in your area. If you’re renting, ask yourself whether moving to a cheaper suburb or a cheaper home is an option. Many people use cashback sites like Cashrewards and ShopBack to accrue cashback incentives. <h2>3. Maximise returns and tackle high-interest debts</h2> While rising interest rates might make your mortgage climb, it also means high interest on your savings. Consider exploring high-yield savings accounts; with current interest rates, you could potentially earn around 5.5% with a bank savings account. Many people set up recurring transfers to help them stick to savings goals, increase deposits and maximise interest earnings. For those wrestling with high-interest debts such as credit cards or personal loans, prioritise settling outstanding balances to minimise interest payments. It can be hard to escape the long-term repercussions (such as a <a href="https://theconversation.com/payday-lending-trap-requires-a-credit-supply-rethink-39311">poor credit score</a>) of defaulting on <a href="https://www.sydney.edu.au/news-opinion/news/2022/09/21/researchers-uncover--pecking-order-of-defaults--as-belts-tighten.html">high-interest loans</a>. And approach buy-now, pay-later services with extreme caution. They may seem tempting but the <a href="https://onlinelibrary.wiley.com/doi/10.1111/acfi.13100">debts can quickly add up</a>. And if you need more help, contact the government’s free National Debt Helpline on 1800 007 007.<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/218118/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/ama-samarasinghe-1386754">Ama Samarasinghe</a>, Lecturer, Financial Planning and Tax, <a href="https://theconversation.com/institutions/rmit-university-1063">RMIT University</a> Image credits: Getty Images 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/the-cost-of-living-crisis-is-hitting-hard-here-are-3-ways-to-soften-the-blow-218118">original article</a>.

Money & Banking

What is the ‘sunk cost fallacy’? Is it ever a good thing?

<a href="https://theconversation.com/profiles/aaron-nicholas-1487960">Aaron Nicholas</a>, <a href="https://theconversation.com/institutions/deakin-university-757">Deakin University</a> Have you ever encountered a subpar hotel breakfast while on holiday? You don’t really like the food choices on offer, but since you already paid for the meal as part of your booking, you force yourself to eat something anyway rather than go down the road to a cafe. <a href="https://www.sciencedirect.com/science/article/pii/0167268180900517">Economists</a> and <a href="https://www.sciencedirect.com/science/article/pii/0749597885900494">social scientists</a> argue that such behaviour can happen due to the “sunk cost fallacy” – an inability to ignore costs that have already been spent and can’t be recovered. In the hotel breakfast example, the sunk cost is the price you paid for the hotel package: at the time of deciding where to eat breakfast, such costs are unrecoverable and should therefore be ignored. Similar examples range from justifying finishing a banal, half-read book (or half-watched TV series) based on prior time already “invested” in the activity, to being less likely to quit exclusive groups such as sororities and sporting clubs the more <a href="https://psycnet.apa.org/record/1960-02853-001">effort it took to complete the initiation ritual</a>. While these behaviours are not rational, they’re all too common, so it helps to be aware of this tendency. In some circumstances, you might even use it for your benefit. <h2>Sunk costs can affect high-stakes decisions</h2> While the examples above may seem relatively trivial, they show how common the sunk cost fallacy is. And it can affect decisions with much higher stakes in our lives. Imagine that Bob previously bought a house for $1 million. Subsequently, there’s a nationwide housing market crash. All houses are now cheaper by 20% and Bob can only sell his house for $800,000. Bob’s been thinking of upgrading to a bigger house (and they are now cheaper!), but will need to sell his existing house to have funds for a downpayment. However, he refuses to upgrade because he perceives a loss of $200,000 relative to the original price he paid of $1 million. Bob is committing the sunk cost fallacy by letting the original price influence his decision making – only the house’s current and projected price should matter. Bob might be acting irrationally, but he’s only human. Part of the reason we may find it difficult to ignore such losses is because losses are psychologically more salient relative to gains – this is known as <a href="https://psycnet.apa.org/record/1985-05780-001">loss aversion</a>. While most of the evidence for the sunk cost fallacy comes from <a href="https://link.springer.com/article/10.1007/s40685-014-0014-8">individual decisions</a>, it may also influence the decisions of groups. In fact, it is sometimes referred to as the <a href="https://www.nature.com/articles/262131a0">Concord fallacy</a>, because the French and British governments continued funding the doomed supersonic airliner long after it was likely it would not be commercially viable. Another example is drawn-out armed conflict that involves a large loss of lives for the losing side. Some may think it impossible to capitulate because the casualties will have “died in vain”. <h2>Knowing about sunk costs can help you</h2> If you find yourself justifying behaviour due to costs you’ve paid in the past rather than circumstances of the present, or predictions of the future, it’s worth checking yourself. Identifying sunk costs allows you to cut your losses early and move on, rather than perpetuating larger losses. This is apparent in the housing example: the larger the crash, the cheaper the bigger house; and yet the larger the crash, the greater the perceived loss from selling the existing house. Hence, the greater the loss in opportunity inflicted by the sunk cost fallacy. If you find it difficult to overcome the sunk cost fallacy, it may help to delegate such decisions to others. This may include the decision of whether to <a href="https://direct.mit.edu/rest/article-abstract/93/1/193/57894/The-Flat-Rate-Pricing-Paradox-Conflicting-Effects">go to a buffet</a> or subscribe to Netflix, with the latter potentially being a double whammy: one may feel compelled to binge-watch due to the flat fee structure and, as mentioned earlier, to finish mediocre series once halfway through. <h2>Use sunk costs to your advantage</h2> A second, less obvious benefit is actively using the fallacy to your advantage. For example, many gym memberships require upfront payments regardless of how much you use the facilities. If you find it hard to ignore sunk costs, choosing gym memberships that have large upfront fees and minimal pay-per-usage fees may be a way to <a href="https://pubsonline.informs.org/doi/abs/10.1287/mnsc.2018.3032">commit yourself</a> to a regular gym habit. This can also apply to other activities that involve short-term pain for long-term gain – for example, paying for an online course will make you more likely to stick with it than if you found a free course. But be warned, this doesn’t work for everything: it seems that spending wildly on a <a href="https://onlinelibrary.wiley.com/doi/abs/10.1111/ecin.12206">wedding ceremony or engagement ring</a> doesn’t have a “sunk cost” effect – it fails to increase the likelihood of staying married.<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/217798/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/aaron-nicholas-1487960">Aaron Nicholas</a>, Senior Lecturer in Economics, <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-is-the-sunk-cost-fallacy-is-it-ever-a-good-thing-217798">original article</a>.

Money & Banking

Downsizing cost trap awaits retirees – five reasons to be wary

<a href="https://theconversation.com/profiles/erika-altmann-361218">Erika Altmann</a>, <a href="https://theconversation.com/institutions/university-of-tasmania-888">University of Tasmania</a> It’s time to debunk the myth of zero housing costs in retirement if we want to understand why retirees resist downsizing. Retirees have at least five reasons to be wary of the costs of downsizing. Retirees living in middle-ring suburbs face frequent calls to downsize into apartments to free up larger allotments in these suburbs for redevelopment. Retirees who fail to downsize into smaller units and apartments are viewed as being a greedy, baby-boomer elite, stealing financial security from younger generations. It also makes sense to policymakers for retirees to move into less spacious accommodation and make way for high-density housing. Housing think-tank AHURI <a href="http://www.ahuri.edu.au/__data/assets/pdf_file/0021/14079/AHURI_Final_Report_No_286_Australian-demographic-trends-and-implications-for-housing-assistance-programs.pdf">fosters this view</a>. Yet seniors remain resistant to moving, in part because of the ongoing costs they would face. The concept of zero housing costs in retirement is based on a 1940s view of a well-maintained, single dwelling on a single allotment of land where the mortgage has been paid off. This concept is incompatible with medium- and high-density housing and refusing to acknowledge ongoing housing costs may cause significant poverty for retirees. <h2>Reason 1 – upfront moving costs are high</h2> When a house is sold the owner receives the sale funds minus the real estate and legal fees. When the same person then buys a different property to live in, they pay legal fees plus stamp duty. For cities such as Melbourne and Sydney, these costs are likely to exceed A$70,000. These high transfer costs may mean it is not cost-effective <a href="https://theconversation.com/why-older-australians-dont-downsize-and-the-limits-to-what-the-government-can-do-about-it-76931">for the person to move</a>. <h2>Reason 2 – levies are high</h2> Because apartment owners pay body corporate levies, people often assume this is just the same as periodic payment of rates, water, insurance and other costs. It is not. Fees remissions for low-income retirees for rates, power, insurance and water are difficult to apply within a body corporate environment. As a consequence, these are usually not applied to owners of apartments. The costs of maintaining essential services, such as mandatory fire-alarm testing, yearly engineering certification, lift and air-conditioning inspections, significantly increase ownership costs. When additional services are supplied, such as swimming pools, gyms and rooftop gardens, these also require periodic inspections. Garbage collection, cleaning, gardening, concierge and strata management services also <a href="https://eprints.utas.edu.au/cgi/users/home?screen=EPrint%3A%3AView&eprintid=23322">must be paid</a>. Owners of standard suburban homes choose whether they want these services, with those on fixed incomes going without them. Annual levies for apartment buildings vary, but expect to pay between $10,000 and $15,000. They <a href="https://www.strata.community/understandingstrata/faqs">may be more than this</a>. <h2>Reason 3 – costs of maintenance</h2> <figure class="align-right "><figcaption></figcaption></figure> Apartments are often sold as a maintenance-free solution for older people. The maintenance is not free. It needs to be paid for. Maintenance costs are higher in an apartment than a standard suburban home because there are more items and services to be maintained and fixed. Lifts and air conditioning need periodic servicing and fixing. This is in addition to the mandatory inspections listed above. <h2>Reason 4 – loss of financial security</h2> It is a mistaken belief that the maintenance costs that form part of the body corporate fee include periodic property upgrades. This relates to items that are owned collectively with other apartment owners. Major servicing at the ten-year mark and usually each five-to-seven years after that include painting, floor-covering replacement, and lift and air-conditioning repair or replacement. Major upgrades may also include garden redesign or other external building enhancement including <a href="https://eprints.utas.edu.au/cgi/users/home?screen=EPrint%3A%3AView&eprintid=23315">environmental upgrades</a>. All owners share these upgrade costs. Costs of upgrading the inside of an apartment (a bathroom disability upgrade, for example) are additional again. Once the body corporate committee members pledge funds towards an upgrade, all owners are required to raise their share of the funds, whether they can afford it or not. Communal choice outweighs an individual owner’s need to delay upgrade costs. Owners who buy apartments that are part of a body corporate effectively lose control of their future financial decisions. <h2>Reason 5 – loss of security of tenure</h2> Loss of security of tenure is usually associated with renters. However, the recent introduction of <a href="http://www.lpi.nsw.gov.au/__data/assets/pdf_file/0009/25965/Termination_of_a_strata_scheme_by_RG.pdf">termination legislation</a> in New South Wales gives other owners the right to vote to terminate a strata title scheme. When this occurs, all owners, including reluctant owners of apartments within that scheme, are compelled to sell. There are valid reasons why termination legislation is desirable, as many older apartment complexes are reaching the end of their useful life. Even so, as termination legislation is rolled out across the states, owner- occupiers effectively lose control of how long they will own a property for. They no longer have security of tenure, which means retirees may face an uncertain housing future in their old age. <h2>Downsizing raises poverty risks</h2> Because current data sets do not adequately take account of ongoing costs associated with apartment living, the effect of downsizing on individual households is masked. Downsizing retirees into the apartment sector creates ongoing financial stress for older people. Creating <a href="https://theconversation.com/it-will-take-more-than-piecemeal-reforms-to-convince-older-australians-to-downsize-51043">tax incentives to move</a> does not tackle these ongoing costs. Centrelink payments for of <a href="https://www.humanservices.gov.au/customer/services/centrelink/age-pension">$404 per week</a> are well below <a href="http://acoss.wpengine.com/poverty-2/">the poverty line</a>. Yet we expect retirees to willingly downsize and to be able to cede most of their Centrelink payments to cover high body corporate costs. Requiring retirees to downsize for the greater urban good will shift poverty onto retirees who could barely manage in their previously owned standard suburban home. Failing to understand the effect of high ongoing costs associated with apartment living and reinforcing the myth of zero housing costs in retirement will continue to lead to poor policy outcomes.<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/80895/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/erika-altmann-361218">Erika Altmann</a>, Property and Housing Management Researcher, <a href="https://theconversation.com/institutions/university-of-tasmania-888">University of Tasmania</a> Image credits: Getty Images 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/downsizing-cost-trap-awaits-retirees-five-reasons-to-be-wary-80895">original article</a>.

Retirement Income

The cost of living is biting. Here’s how to spend less on meat and dairy

Food & Wine

King Charles hit hard by cost of living crisis

As the cost of living crisis continues around the world, it seems even those at the very top are not as immune from the financial uncertainty as expected. King Charles and the royal family are the latest hit by the crisis, with the Crown Estate losing half a billion pounds (approx. $950 million AUD) on its London property portfolio after the value of retail space crashed. King Charles was reportedly forced to dip into the royal reserves by £21 million (approx. $40 million AUD) due to overspending by the Palace, while staff have implemented a number of cost-cutting measures across the various royal estates including turning down the heating. Following a year of "unprecedented" royal activity that saw both the death of Queen Elizabeth and the coronation of King Charles, Buckingham Palace's net expenditure grew by more than £5 million this year, to £107.5 million (approx. $203 million AUD) in just a few short months. The spending was used on events such as the Queen Elizabeth II's Platinum Jubilee, the Queen's funeral, preparation for the King's coronation and the joining of two royal households. During a media briefing on Tuesday, Sir Michael Stevens, keeper of the royal family's Sovereign Grant, emphasised that it had been "an exceptional year" for the royal household. He said the financial strain related to a year of "grief, change and celebration, the like of which our nation has not witnessed for seven decades". The historic events, he said, have "inevitably entailed additional burdens on resources" to ensure that they were "delivered safely and smoothly, and that the change of reign was effected as seamlessly as possible at a time of great national and international interest". The Platinum Jubilee cost £700,000 (approx. $1.3 million AUD), while the Queen's funeral cost £1.6 million (approx. $3.5 million AUD). Image credits: Getty Images

Money & Banking

Ready-made foods you should avoid at all costs

<h2>Pasta dishes</h2> Those ready-made spaghetti Bolognese and creamy pasta dishes are comfort foods at their finest, but they’re not the best for your body. Skip the frozen dishes, which tend to be loaded with sodium and fat, and throw your own healthy pasta recipe together, suggests paediatric dietitian Jodi Greebel. Not only is boiling pasta quick and easy, but you also have more control over what goes into the sauce and sides. Load yours up with nutritious veggies and throw in a tin of lentils for a healthier twist on your guilty-pleasure pasta. <h2>Kids’ meals</h2> Parenting is a 24/7 job, and if you cook separate meals for your little ones, sometimes you lack the energy and time. It’s tempting to pop a frozen kids’ meal in the oven and serve dinner 20 minutes later, but that meal probably isn’t something you really want in your child’s belly. “Some meals have more than half the amount of fat a child needs for the whole day,” says Greebel. With just a teensy bit more effort, you can dish up something you can feel confident feeding your child. For standby freezer aisle meals, Greebel recommends baked chicken nuggets with frozen veggies, but fresh food can be just as easy. Pick up a rotisserie chicken to serve with two vegetables – food that will feed not just your children but the adults in the house too. Any leftovers use in tacos for tomorrow night’s meal. <h2>Low-protein veggie burgers</h2> Skipping the traditional cheeseburger for a meatless option can be better for your belly and the planet, but there’s a catch. A lot of people look at all plant-based burgers as healthy protein substitutes, but some are much higher in carbohydrates and fat than protein, says nutrition program creator Ilana Muhlstein. “Protein is important for keeping us full and preventing overeating.” Leave it on the shelf if the nutrition facts say just five grams of protein, and hunt down another veggie patty with ten grams or more, she suggests. <h2>Frozen stir-fries</h2> Frozen meals like stir-fries are loaded with sodium, thanks in part to the sauces they come in. Luckily, a healthier version is just as easy and freezer-friendly. Buy a pack of plain frozen veggies – some stores even sell stir-fry vegetables without the sauce – and throw them in your wok or frying pan with chicken or beef, suggests Greebel. Use just a bit of low-sodium soy or teriyaki sauce to keep the salt to a minimum. <h2>Fried foods</h2> So, how bad are fried foods? Chips and other frozen fried food is tasty, but it shouldn’t be a part of your regular diet. Loaded with sodium and saturated fats, it could increase your risk of heart disease and obesity. Keep some healthier snack options on hand so you’re not tempted by the fried stuff. Throw together a pita pizza instead of frozen pizza, or make chicken tacos. <h2>Two-serving meals</h2> When you’re looking for a quick and healthy single-serving dinner, buyer beware: some frozen foods look reasonable in calories, fat, and sodium at first glance, but they’re actually two servings disguised as one. Double-check the portion size before you dig in to make sure you’re not biting off more than you’d want to chew. Swap the poser out for a single-serving meal, or set half aside for leftovers. Image credit: Shutterstock This article originally appeared on <a href="https://www.readersdigest.co.nz/kitchen-tips/ready-made-foods-you-should-avoid-at-all-costs" target="_blank" rel="noopener">Reader's Digest</a>.

Food & Wine

9 cost-effective ways to warm your home this winter

Sick of hearing about the same old heating methods that never quite do the job? Try these nine unconventional heating hacks. 1. Preheat your pyjamas While you shower, put your pyjamas in the dryer to ensure that you have toasty warm clothing to change into as soon as you leave the warmth of the bathroom. For a slightly more affordable version, wrap your PJs in a hot water bottle or heat bag, not only will it heat your clothes but it will make your bed toasty warm too, just be sure to remove the hot water bottle from your bed before you settle down to sleep for the night. 2. Join the fan club It might seem counter-productive but turning a fan on at the lowest setting will help circulate heat throughout the room. Don't knock it until you try it! 3. Hottie in the car Dreading your chilly morning commute to work? Make your early start a little easier to stomach by putting hand warmers into your pockets or heat up a hot water bottle with warm water or a heat bag and put it on your lap as you drive. 4. Utilise bubble wrap For those whose home insulation isn't up to scratch, a budget-friendly trick is to use bubble wrap to insulate your windows from the inside. To create the DIY double glazing, simply get some bubble wrap and use a product like blue-tac to hold it in place on your windows. 5. Make use of your curtains Keep your house warmer for longer by making use of your curtains and the limited winter sun. To do this, open all of your curtains on a sunny morning and allow the house to soak up as much heat as possible during the day. As night falls, let your curtains act as an additional piece of insulation by closing them at dusk and trapping heat inside the house. 6. Cuddle your pet When in doubt, a great way to stay warm on a cold night is by sharing body heat. While snuggling up with your partner might make you a little bit warmer, cuddling a furry pet will heat you up a lot faster. The key to success with this hack is to cuddle up with the fluffiest animal possible, so try and find a friend with a Ragdoll cat or a St Bernard. 7. Go camping… indoors Just because it's winter doesn't mean you can't go camping... well, as long as it's in the living room. For a warm night's sleep, fill up a tent with pillows and blankets, make sure it's all zipped up and settle down for the night. The enclosed space will heat up by trapping the air and using your body warmth to make the space nice and cosy. 8. Redecorate Positioning your favourite seat in front of the heater might feel great when you're sitting in it, but when you put furniture too close to a heating source you're actually stopping the hot air from circulating throughout the rest of the room. Fix this problem by repositioning your furniture and allowing the hot air to fill the whole room, rather than just absorbing it all up in one spot. 9. Get in the kitchen There's nothing like a good soup or a roast to make you feel better on a cold winter’s night. Cooking is an easy way to warm up the air in your home, while also providing you with something warm to eat at the same time. Republished with permission of <a href="http://www.stuff.co.nz/" target="_blank" rel="noopener">Stuff.co.nz</a>. Images: Getty

Home Hints & Tips

How much it costs to rent Hugh Jackman’s bucket list home

After building and developing this stunning, minimalist East Hamptons estate over a period of six years, Wolverine star Hugh Jackman and his wife Deborra-lee Furness have decided to put it to better use by popping it onto the rental market – and it will only set you back around half-a-million dollars per month, according to <a href="https://www.corcoran.com/listing/for-rent/20-hedges-banks-drive-east-hampton-ny-11937/6517169/regionId/3" target="_blank" rel="noopener">Corcoran.com</a>. “Stunning Modern Waterfront Compound!” screams the listing. “Beautifully done, highest end construction, with every amenity, including gym, theater, flush edge pool, jacuzzi, and two single and separate homes, set high on the bluff overlooking the open bay with the most spectacular views!” After Hugh bought the property for $3.5m in 2015, he and Deborra-lee spent six long years renovating it, and turning it into what Furness described as her “lifelong dream”. Architect Stelle Lomont Rouhani collaborated with Jackman and Furness to create “the utmost Zen tranquillity overlooking the Gardiner's Bay in East Hampton”. The minimalist main house with a gourmet kitchen, Gaggenau appliances and an informal dining room features a hand-carved solid bleached walnut dining table, custom crafted by Field & Co., 3 en suite bedrooms, floor-to-ceiling glass doors, and a guest house, meticulously renovated and features open living space complete with a top-of-the-line kitchen with bar area, a step-down open living room with lounge-style seating, along with a loft bed and lounge areas and a primary suite overlooking the oversized pool and spa sitting above the bay with a spectacular 180-degree vista of the water. Set on a sprawling 2.5-acre plot, the 5-bedroom, 5 1/2 bath compound is the ultimate retreat with all the amenities of a 5-star resort. Images: Corcoran.com

Real Estate

Child marriage comes with a heavy cost for young girls in Africa – but there’s one clear way out

650 million women and girls alive today were married before their 18th birthday. That’s one of the startling figures contained in a <a href="https://data.unicef.org/wp-content/uploads/2021/11/Towards-Ending-Child-Marriage-report-2021.pdf" target="_blank" rel="noopener">2021 UNICEF report</a> about child marriage. Africa’s sub-Saharan region is home to <a href="https://data.unicef.org/topic/child-protection/child-marriage/" target="_blank" rel="noopener">nine of the ten countries</a> with the highest rates of child marriage in the world. Ingrained traditions and cultural practices typically entrench such early marriages. State or customary laws in <a href="https://www.unfpa.org/sites/default/files/pub-pdf/MarryingTooYoung.pdf#page=12" target="_blank" rel="noopener">146 countries</a> allow girls younger than 18 to marry with the consent of their parents or other authorities. In <a href="https://www.unfpa.org/sites/default/files/pub-pdf/MarryingTooYoung.pdf#page=12" target="_blank" rel="noopener">52 nations</a>, girls under 15 can marry with parental consent. Early marriage among boys is <a href="https://www.unicef.org/press-releases/115-million-boys-and-men-around-world-married-children-unicef" target="_blank" rel="noopener">also widespread</a>, though the numbers are far lower than they are for girls and young women. And it is girls and young women who pay the heaviest costs for early marriage. Girls who marry before 18 are <a href="https://data.unicef.org/wp-content/uploads/2021/11/Towards-Ending-Child-Marriage-report-2021.pdf" target="_blank" rel="noopener">more likely</a> to be subjected to domestic violence and less likely to continue schooling than their peers. They have worse economic and health outcomes, a burden they almost inevitably pass on to their children. Early marriage has been linked to poorer <a href="https://www.wider.unu.edu/sites/default/files/Events/PDF/Slides/1_khatoon.pdf" target="_blank" rel="noopener">cognitive development</a> and <a href="https://www.sciencedirect.com/science/article/abs/pii/S0277953617303283" target="_blank" rel="noopener">stunting</a> among the children of such women. Today, the practice is declining thanks to national and international policies, global treaties and, since 2016, the UNFPA-UNICEF Global Programme to End Child Marriage. But gains have been slow in sub-Saharan Africa. What is it that drives the practice in the region? That’s what we examined in a <a href="https://journals.sagepub.com/doi/10.1177/0021909620966778" target="_blank" rel="noopener">recent study</a>. Using statistical analysis, we looked at the socio-economic and demographic determinants of early marriage among young women the Democratic Republic of Congo (DRC), Malawi, Mali and Niger. Each of the four countries has sought to introduce measures to discourage early marriage, but their challenges remain formidable. We explored several possible explanations and variables: age at first intercourse, education and literacy, women’s current age, region and type of place of residence, family wealth index, ethnicity, employment status, and even mass media exposure. One factor stands out across the four countries in our study: education. Women without formal education are more likely to marry early than those who completed secondary or higher education. <h2>Four study countries</h2> The four countries have a great deal in common, including high poverty levels and substantial under-15 and rural populations. In each country, around 50% of people are younger than 15, and around half of the countries’ respective populations live in rural areas (a full 84% in the case of <a href="https://malawi.unfpa.org/sites/default/files/resource-pdf/2018%20Malawi%20Population%20and%20Housing%20Census%20Main%20Report%20%281%29.pdf#page=23" target="_blank" rel="noopener">Malawi</a>). Among the four countries in our study, Niger has the highest child marriage prevalence worldwide – 76% of girls are married before the age of 18. The rates stand at 52% in Mali, 42% in Malawi, and 37% in the DRC. For our analysis, we turned to the most recently available demographic and health surveys from each of the four countries. We then applied a framework that seeks to describe the important social-cultural and cognitive variables and their interrelationships that underlie behaviours and decisions around reproductive health. <h2>Statistical variables</h2> The answers we found as to why early marriage is so commonplace in these countries were not always clear-cut. What’s more, there were lots of statistical variations across the four countries and contradictions, as was to be expected. For example, the average age of first marriage ranged from 15.3 in Niger to 17.1 in Malawi. There was also a range in the percentage of women from the poorest wealth category in the countries who had been married by 18: Niger (90.9%), Mali (80%), DRC (70.3%), Malawi (63.1%). Rates of early marriage dropped among women from richer categories, but were still high: Niger (72.7%), Mali (65.4%), DRC (60.3%) and Malawi (42.5%). The study also showed that young women living in rural areas were likely to marry earlier than those from urban areas. These variations’ social, economic, and cultural underpinnings are likely complex and would need some unpacking. In some cultures, for example, girls are married off young as they are considered to be more likely to be virgins still and can thus fetch a higher payment of what’s known as the <a href="https://www.globalcitizen.org/en/content/child-marriage-brides-india-niger-syria/" target="_blank" rel="noopener">bride price</a>. Amid the many statistical variables that emerged, we were especially struck by the relationship between educational levels and average age at first marriage. <h2>The role of education</h2> We found that the average age at first marriage in Niger, Mali, DRC, and Malawi increased from young people with no education (15.1, 15.4, 16.2, and 16.4, respectively) to those with secondary and higher education (17.0, 16.6, 17.1 and 18.5 in that order). In addition, we saw that the highest prevalence of early marriage (by 18 years) was found among young women with no education (90.6%, 80.3%, 70.9%, and 70.3%). It was lowest among women with secondary and higher education (64.2%, 62.9%, 58.9%, and 30.2%). Malawi is the only one of the four countries where school education is universal, accessible and compulsory. Education offers young women opportunities in life. In some African cultures, however, allowing girls to finish or even attend school <a href="https://www.girlsnotbrides.org/learning-resources/child-marriage-and-education/" target="_blank" rel="noopener">is discouraged</a> as it is feared that an educated girl is less likely to get a husband or be a good wife. <a href="https://www.girlsnotbrides.org/learning-resources/child-marriage-atlas/atlas/malawi/" target="_blank" rel="noopener">In Malawi</a>, less than 15% of women have any secondary school education, and 42% of girls are married before the age of 18 – the twelfth highest rate of child marriage in the world. <h2>Next steps</h2> There is an urgent need for governments in these countries to introduce programmes that promote delaying the age at which girls first have sex and to equip adolescents with knowledge about responsible and safer sex. Policymakers should also work to promote prolonged enrolment in school for adolescent girls. And, crucially, laws are needed – and must be enforced – that criminalise child marriages. This article originally appeared on <a href="https://theconversation.com/child-marriage-comes-with-a-heavy-cost-for-young-girls-in-africa-but-theres-one-clear-way-out-190924" target="_blank" rel="noopener">The Conversation</a>. Image: Shutterstock

Legal

Just how much does each day on a cruise cost

Part of the great appeal of cruising is the idea that it will work out cheaper than other types of holidays due to paying for meals and accommodation upfront. But recent data from Cruise Lines International Association Australia (CLIA) seems to suggest that this might not necessarily be the case with some holidays. Thought the purchase of multiple add-ons like beverage packages, room service, on-shore excursions or other activities, cruises can actually work out much more expensive. <a href="http://www.finder.com.au/" target="_blank" rel="noopener">CLIA broke down</a> what a typical cruise passenger spent each day in 2014: <img style="display: block; margin-left: auto; margin-right: auto;" src="../media/23487/cruise-graph_499x315.jpg" alt="Cruise Graph" width="499" height="315" /> Figures include items you have to pay for up front, as well as extras that might not be part of your cruise package. But it works out the average cruise passenger was paying $384 a day, which depending on the type of holiday you’re used to might actually be more expensive. What’s your take on the figures? Have you recently taken a cruise and did you find it a major bargain, or did it work out more expensive? Share your thoughts in the comments. Image credit: Finder.com.au / Getty

Cruising

Inflation is 2022’s boogeyman. How can we address rising living costs, while helping bring it down?

An entire generation has never experienced life with high inflation. But that is set to change. Countries like Australia, Canada, the United Kingdom and others are <a href="https://www.weforum.org/agenda/2022/06/inflation-stats-usa-and-world/">reporting rising inflation</a>. In New Zealand, inflation has climbed to its <a href="https://www.stuff.co.nz/business/129293267/annual-inflation-hits-73">highest rate in 32 years</a>. Our collective inexperience with the scourge of inflation, and how to solve it, could be a real problem. For those experiencing high inflation for the first time, it is helpful to understand just what economists and politicians are talking about. Inflation is a sustained increase in overall prices. Not everything goes up by the same amount but when people are having to pay more each week, month or year for the same basket of goods and services then that’s inflation. Inflation is harmful in many ways. It works like rust – slowly eating away at the value of your money. Inflation affects all of us. It doesn’t matter what the face value of your money is – what matters is the quantity of goods and services you can buy with it. The real value of money One easy way to understand inflation is to look at what you can buy for the money you have. Suppose at the start of the year your $100 note bought you 20 cups of coffee. However, inflation pushes coffee from $5 to $6 a cup. By the end of the year, your same $100 only buys you 16 cups of coffee. The face value of your money is the same but its real value (in terms of the number of coffees you can buy) has gone down. Your money is worth less now than a year ago. This rise in costs hurts wage earners who have limited opportunity to renegotiate their wages. Inflation also hurts those on fixed incomes such as beneficiaries and superannuitants who only receive periodic adjustments. Rising inflation hurts savers who find the real value of their savings going down if returns on savings don’t keep up with inflation – which they currently aren’t. Inflation can benefit borrowers who have the same debt at the end of the year but the value of that debt is lower in real terms. Providing there is at least some inflation adjustment to their income, borrowers have to sacrifice less to repay their debt. While this sounds good, it’s not. It encourages poor borrowing decisions and discourages savings. <figure class="align-center "><img src="https://images.theconversation.com/files/474465/original/file-20220718-495-2r9amx.jpg?ixlib=rb-1.1.0&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/474465/original/file-20220718-495-2r9amx.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=600&h=400&fit=crop&dpr=1 600w, https://images.theconversation.com/files/474465/original/file-20220718-495-2r9amx.jpg?ixlib=rb-1.1.0&q=30&auto=format&w=600&h=400&fit=crop&dpr=2 1200w, https://images.theconversation.com/files/474465/original/file-20220718-495-2r9amx.jpg?ixlib=rb-1.1.0&q=15&auto=format&w=600&h=400&fit=crop&dpr=3 1800w, https://images.theconversation.com/files/474465/original/file-20220718-495-2r9amx.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=754&h=503&fit=crop&dpr=1 754w, https://images.theconversation.com/files/474465/original/file-20220718-495-2r9amx.jpg?ixlib=rb-1.1.0&q=30&auto=format&w=754&h=503&fit=crop&dpr=2 1508w, https://images.theconversation.com/files/474465/original/file-20220718-495-2r9amx.jpg?ixlib=rb-1.1.0&q=15&auto=format&w=754&h=503&fit=crop&dpr=3 2262w" alt="Young woman looking at a grocery receipt." /><figcaption>Inflation has risen to levels not seen for three decades. Consumers will feel the squeeze as their purchasing power drops. <a class="source" href="https://www.gettyimages.com.au/detail/photo/checking-receipt-royalty-free-image/691853536?adppopup=true">Getty Images</a></figcaption></figure> The all-encompassing impact of inflation In a progressive tax system, inflation hurts salary and wage earners who get pushed into higher tax brackets as they receive inflation adjustments to their pay. Inflation can also cause issues at a national level. If one country’s inflation rate is higher than their trading partners then its currency falls in value. In the early 1970s, the NZ dollar was worth almost US$1.50. Our higher inflation rates of the 70s and 80s saw it fall to around US$0.50 by the mid 80s. This drop in value limits what we can buy from overseas – things like life-saving drugs will become more expensive for us if we don’t get inflation down and others do. The causes of inflation can come from good intentions Inflation is too much money chasing too few goods. If central banks push more money into circulation, there is a real risk of inflation. A big increase in demand for goods from, for example, an increase in government spending can also trigger inflation. So can supply chain disruptions that reduce the goods available (meaning the same amount of money chasing fewer goods). Unfortunately, all these triggers are currently in play as countries respond to a series of global crises. The invasion of Ukraine and ongoing COVID-19 supply chain disruptions have reduced the goods available. Governments globally have boosted spending to support their economies. But this latter factor has been put on steroids by central banks being willing to purchase government debt. <figure class="align-center "><img src="https://images.theconversation.com/files/474468/original/file-20220718-53534-kfbvw2.jpg?ixlib=rb-1.1.0&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/474468/original/file-20220718-53534-kfbvw2.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=600&h=400&fit=crop&dpr=1 600w, https://images.theconversation.com/files/474468/original/file-20220718-53534-kfbvw2.jpg?ixlib=rb-1.1.0&q=30&auto=format&w=600&h=400&fit=crop&dpr=2 1200w, https://images.theconversation.com/files/474468/original/file-20220718-53534-kfbvw2.jpg?ixlib=rb-1.1.0&q=15&auto=format&w=600&h=400&fit=crop&dpr=3 1800w, https://images.theconversation.com/files/474468/original/file-20220718-53534-kfbvw2.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=754&h=503&fit=crop&dpr=1 754w, https://images.theconversation.com/files/474468/original/file-20220718-53534-kfbvw2.jpg?ixlib=rb-1.1.0&q=30&auto=format&w=754&h=503&fit=crop&dpr=2 1508w, https://images.theconversation.com/files/474468/original/file-20220718-53534-kfbvw2.jpg?ixlib=rb-1.1.0&q=15&auto=format&w=754&h=503&fit=crop&dpr=3 2262w" alt="Man with mask pushing supermarket trolly." /><figcaption>Russia’s war in Ukraine and the ongoing COVID-19 pandemic has caused a cost-of-living crisis. <a class="source" href="https://www.gettyimages.com.au/detail/photo/man-wearing-mask-while-shopping-in-supermarket-royalty-free-image/1235145649?adppopup=true">Getty Images</a></figcaption></figure> Unintended consequences The RBNZ bought billions of government bonds to keep interest rates low as part of its <a href="https://www.parliament.nz/en/pb/library-research-papers/research-papers/library-research-brief-large-scale-asset-purchase-lsap-programme">“large scale asset purchases” programme</a>. In New Zealand, the average money growth between 1995 and 2019 was about 8% per year. This accommodates a growing population, a growing economy and a little bit of inflation (a little bit is OK). In the last two years money supply has grown by around 30% per year. Of course it’s easy to look back with the benefit of hindsight. Those who made the decisions at the time don’t have that luxury. The RBNZ is now they are having to wind back their asset purchases and raise interest rates to rein in inflation. Some argue the RBNZ has been <a href="https://www.stuff.co.nz/national/politics/129311096/more-pain-expected-as-inflation-runs-hotter-than-a-government-can-handle">distracted and has dropped the ball on their key job</a> and we are now facing the risk the inflation genie is out of the bottle. Whether that criticism is justified or not, the RBNZ will now have to act decisively to reduce inflation. But getting inflation down is never painless. Households with mortgages will find their weekly budgets squeezed as interest rates rise. Firms will face falling demand from consumers with less to spend. Job growth will dry up – though New Zealand is in the fortunate position of starting with very low unemployment. Regardless, the RBNZ must do the job they got back in 1989 with the passing of the <a href="https://www.rbnz.govt.nz/-/media/29ada25bfa8b4e50922262618fb03e00.ashx?sc_lang=en">Reserve Bank of New Zealand Act</a>. New Zealand’s central bank is the only one that can control monetary conditions; it’s the only one that can get inflation under control. The same could be said for many of the countries facing growing inflation. If central banks don’t take decisive action, we could get a sharp reminder of just how bad inflation can be.<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/187154/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/stephen-hickson-1288490">Stephen Hickson</a>, Economics Lecturer and Director Business Taught Masters Programme, <a href="https://theconversation.com/institutions/university-of-canterbury-1004">University of Canterbury</a> 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/inflation-is-2022s-boogeyman-how-can-we-address-rising-living-costs-while-helping-bring-it-down-187154">original article</a>. Image: Getty Images

Money & Banking

Travelling around the globe might not have to cost the Earth

The last time you booked a flight online, you may have been offered the chance to ‘offset’ the carbon produced by your travel. This is due in part to recognition that the aviation industry is responsible for around 5% of human-made emissions resulting in climate change. The efforts by this sector to respond to its environmental impact can range from switching fuels (from coal to biomass, for instance), more efficient combustion processes (by improving aircraft engines, for example), protecting forests or promoting sustainable development in local communities. Now, in a potentially ground-breaking innovation for long-haul flights, a team of researchers at the Swiss Federal Institute of Technology, Zürisch (ETH Zurich) have developed an all-in-one solar-powered tower that’s able to use energy from the Sun’s rays to convert water and carbon dioxide into synthetic fuels. Think: water + carbon dioxide = energy. Sound familiar? Well, it should. It’s what many plants do to make energy for themselves. The ETH Zurich process has a lot in common, really, explains Dr Jessica Allen, a chemical engineer and renewable energy technologies expert at the University of Newcastle. Although in this case, “industrial photosynthesis might be a better term as this particular process doesn’t involve any physiological mechanisms like plants and living material”, says Allen. The proof-of-concept solar tower consists of 169 Sun-tracking panels that reflect and concentrate sunlight into a tower-top solar reactor. Here, energy from the Sun’s rays meets a combination of water, carbon dioxide and a special structure made of ceria (cerium oxide), which is porous and “acts like a filter network, undergoing many reduction-oxidation (also known as redox) reactions”, says Allen. These reaction cycles produce syngas (synthesis gas), which is then converted to liquid fuels such as diesel and kerosene (which is used as jet fuel for long-haul flights) via a well-established process known as the Fischer-Tropsch reaction, which typically occurs in the presence of metal catalysts, temperatures of 150–300°C and pressures of several tens of atmospheres. Much work remains to translate the process to industrial scale. Currently, the energy efficiency of the process is only at 4%, meaning that out of 100 parts of energy available, only four parts are captured in the process. This is something the researchers are keen to push up towards around 15%. According to Allen, that’s still at the low end of the energy efficiency of current solar-to-electricity and solar-to-thermal energy generation. She says that efficiency is crucial when it comes to systems that use land area for solar collection (such as solar panels and the ETH Zurich tower’s reflectors): “A low efficiency will mean a large land area to generate the required fuel.” Where the CO2 comes from is also very important. At present, it’s injected into the system, but the next obvious step is to start capturing it directly from the air. At that point the fuel production process might be considered carbon neutral, as the amount of CO2 captured from the air is the same as the amount released during fuel combustion. Direct-from-air carbon dioxide capture comes at a cost, though. “There is a fairly major energy penalty for doing direct air capture, because it’s quite hard to filter out carbon dioxide from the rest of the gasses,” says Allen. Then there’s the carbon footprint related to the manufacture and production of equipment and materials, but Allen urges a long-term outlook: “In the system that we’re in at the moment there will be an emission penalty for the materials, however, in the long term, we’ll eventually be manufacturing these things using zero emission approaches.” This will make the whole process – and not just the fuel itself – carbon neutral. The average fuel consumption of a Boeing 747 (which are still used as long-haul cargo transport today) is around 4L per second. For a flight of 10 hours, this equates to 144,000L of fuel. In the future, EHT Zurich researchers will work to increase the system’s energy efficiency to 15%, capture more heat in the process and improve the ceria structures in the reactor in addition to capturing CO2 directly from the air. Their long-term aim is to scale the process to an industrial size – in which enough fuel can be produced to truly fly us into a carbon-neutral aviation future. This article originally appeared on <a href="https://cosmosmagazine.com/science/carbon-neutral-travel-wont-cost-earth/" target="_blank" rel="noopener">cosmosmagazine.com</a> and was written by Clare Kenyon. Image: Shutterstock

Travel Trouble

If you’re renting, chances are your home is cold. With power prices soaring, here’s what you can do to keep warm

If you’re feeling the cold this winter, you’re not alone. About a quarter of all Australians have trouble keeping their homes warm enough in winter. That figure is likely to soar this year, due to poor quality housing and the rapidly escalating energy crisis. Renters are particularly at risk, but our research has shown many home owners are in the same boat as well. We’ve collected data over the last few years on how many Australians have cold homes, find it <a href="https://theconversation.com/forget-heatwaves-our-cold-houses-are-much-more-likely-to-kill-us-83030">difficult to stay warm</a>, and can’t afford their heating bills. What counts as cold? The World Health Organization recommends a <a href="https://www.who.int/publications/i/item/WHO-CED-PHE-18.10">minimum home temperature</a> of 18℃ for health and wellbeing. About a fifth of Australian renters, for example, <a href="https://doi.org/10.1038/s41597-022-01136-5">have cold homes</a>. Our <a href="https://able.adelaide.edu.au/housing-research/research/healthy-housing-cre/cold-in-australian-homes#0">current research</a> has shown this applies to home owners as well, with 26% of people across all housing types unable to stay warm at least half of the time during winter. Australia’s energy crisis is likely to see soaring rates of energy poverty, meaning being unable to keep your home warm or cool enough. Here’s why this is such a problem – and what you can do about it. <h2>Cold homes affect our health</h2> If you’re cold at home, you have a higher risk of developing <a href="https://link.springer.com/article/10.1007/s00484-017-1379-0">respiratory problems</a>and <a href="https://journals.lww.com/jhypertension/fulltext/2014/08000/Stronger_association_of_indoor_temperature_than.8.aspx?casa_token=TFv1eApy3hQAAAAA:9tc6eHiZCAk72mWgrmcgSxQT7kLczUDd7XNpXvNvoIFcMF6pJPSGpORK3SI-Veu4oc994saGXCWuJFBCs3pYN4g">high blood pressure</a>. People in the coldest homes face a higher risk of <a href="https://www.sciencedirect.com/science/article/pii/S0013935114003661?casa_token=vWpvR-oc8iMAAAAA:q72pW312N2oWIm1Gf9jpTTGUr3sH8uM_DankOAVzziVRT8_OPPnPjxJzDIC_x5j4Pr7O_Uuq">dying in winter</a>. Cold can have a flow-on impact on our health system, which is already struggling. Australia’s south-east has had the coldest start to winter <a href="https://thenewdaily.com.au/news/national/2022/06/09/cold-winter-weather-australia/">in decades</a>. Melbourne hasn’t been this cold this early since 1949, while Sydney hasn’t seen these temperatures in early June since 1989. <h2>Double trouble: cold weather and the energy crisis</h2> If you’ve been hit by the recent cold snap, chances are you’ll have been reminded how cold your home can get. This is not a surprise given how badly <a href="https://www.sustainability.vic.gov.au/research-data-and-insights/research/energy-efficiency-and-reducing-emissions/household-retrofit-trials">existing homes</a> and <a href="https://theconversation.com/australias-still-building-4-in-every-5-new-houses-to-no-more-than-the-minimum-energy-standard-118820">new housing</a> perform in keeping an even temperature. The cold has made many people doubly worried, because the energy required to heat our leaky, poorly insulated homes is about to get <a href="https://theconversation.com/expect-more-power-price-hikes-a-1970s-style-energy-shock-is-on-the-cards-183911">very expensive</a>. Early results from <a href="https://able.adelaide.edu.au/housing-research/research/healthy-housing-cre/cold-in-australian-homes#0">our survey</a> of over 350 Australians found 25% of people were experiencing shortages of money to the point they will be unable to adequately heat their homes. One third of our respondents said energy was unaffordable. Some reported making trade-offs, such as skimping on food or healthcare to pay energy bills. These people are experiencing energy poverty, where a household is unable to properly heat or cool their home or face significant financial difficulty doing so. While data about energy poverty in Australia is patchy, we know around 180,000 households <a href="https://vcoss.org.au/wp-content/uploads/2018/11/Persistent-Energy-Hardship-FINAL-Web-Single-Page.pdf">in Victoria</a> had persistent bill payment issues as of 2018, and 45,000 households were consistently unable to heat their homes. <h2>Energy price increases hit lower income households hardest</h2> Lower income households are more at risk from the cold. That’s because they’re more likely to live in homes that are in <a href="https://www.tandfonline.com/doi/full/10.1080/10852352.2016.1197714?casa_token=D_2YbBQ9wRkAAAAA%3A5Z_XqM42cmGunbSwhVJ-EaaHrtV4w3nORhDq9ZoaqAMBx700PldV7_9VVPdAWy7mm2hi3KYLOij3">poor condition</a> and hard to heat. One quarter of low income households told us they struggle to stay warm. Insulation may be a key factor, with 25% of our respondents reporting their rental properties did not have insulation. Insulation matters, because heat escapes homes through <a href="https://www.yourhome.gov.au/passive-design/glazing">single-pane windows</a>, or poorly insulated walls and ceilings. As a result, poorly insulated homes <a href="https://environmentvictoria.org.au/resource/10-tips-warm-house/">cost more to heat</a>. This makes life harder for low income renters, given they have little control over insulation or other home modifications. Worse still, heaters that are cheap to buy are often the most <a href="https://www.climatecouncil.org.au/top-tips-improve-home-energy-efficiency/#:%7E:text=Shoot%20for%20the%20stars%3A%20Top%20tips%20to%20improve%20your%20home's%20energy%20efficiency,-26.11.21%20By&text=Compared%20to%20a%206%2Dstar,amount%20of%20electricity%20we%20use.">expensive to run</a>. While an efficient reverse cycle air conditioner would save money and heat the space better over the longer term, it is often difficult for renters to negotiate installation with property managers or landlords – especially given the intense competition for rentals at present in many cities. That can mean renters will suffer in silence, unwilling to ask for something that will make their lives better. <h2>What can renters do?</h2> Low income renters face real threats from energy poverty this year. While we need systemic change to improve the outlook for Australia’s renters, there are low-cost DIY ways to improve how <a href="https://www.yourhome.gov.au/">your house retains heat</a> this winter. The first step: check your current heating appliances are working efficiently. Many people don’t clean the filters on their reverse cycle air conditioners. This makes them less efficient, and can drive up energy bills. Poorly sealed windows and doors make it hard to stay warm. Using <a href="https://home.howstuffworks.com/home-improvement/heating-and-cooling/insulated-curtains.htm">thermal curtains</a>, and keeping them closed makes a big difference. Putting a piece of plywood or even a scarf between the curtain rail and the wall to make a <a href="https://environmentvictoria.org.au/2011/07/05/take-the-chill-out-of-winter-with-diy-pelmets/">DIY pelmet</a> also helps keep the heat in. If you have single glazed windows, consider <a href="https://renew.org.au/renew-magazine/buyers-guides/window-buyers-guide/">window films</a> as a way to improve performance for a fraction of the cost of double glazed windows. <a href="https://blog.csiro.au/draught-proof-house/">Sealing the cracks</a> around windows, under doors and around the wider home is also important. Silicon or expanding foam can be used for gaps and cracks. Draughts under doors can be stopped with door seals or door snakes. Close the doors to your bathroom, laundry and other rooms not in use to keep the heat where you need it most. Hanging a blanket over a doorway can also be a cheap way to seal off a room and concentrate heat. It’s also worth checking what rebates and concessions your state government or council is offering. These might include energy efficiency improvements or extra help with heating costs. If you’re renting, your home must meet <a href="https://www.energy.vic.gov.au/energy-efficiency/minimum-rental-standards">minimum standards</a>, so make sure you check what you are entitled to as these vary by state. Everyone deserves a warm home. Our health and well-being depend on it. Building new, energy efficient homes is only part of the answer. We also have to make our 10.8 million <a href="https://www.abs.gov.au/statistics/economy/price-indexes-and-inflation/total-value-dwellings/latest-release#:%7E:text=Total%20value%20of%20dwelling%20stock,-Download&text=Range%3A%206400000%20to%2010400000.&text=End%20of%20interactive%20chart.&text=The%20preliminary%20estimate%20of%20the,in%20the%20December%20quarter%202021.">existing dwellings</a> warmer. Image credits: Getty Images This article originally appeared on <a href="https://theconversation.com/if-youre-renting-chances-are-your-home-is-cold-with-power-prices-soaring-heres-what-you-can-do-to-keep-warm-184472" target="_blank" rel="noopener">The Conversation</a>.

Home & Garden

Low-cost gel film pulls clean drinking water from desert air, raising hopes of quenching the world’s driest communities

One in three people lives in <a class="spai-bg-prepared" href="https://www.un.org/en/events/desertification_decade/whynow.shtml" target="_blank" rel="noreferrer noopener">drylands</a>, areas covering more than 40% of the Earth’s surface that experience significant water shortages. Scientists and engineers have now developed a new material that could help people living in these areas access <a class="spai-bg-prepared" href="https://cosmosmagazine.com/earth/water/an-answer-to-the-clean-water-crisis/" target="_blank" rel="noreferrer noopener">clean drinking water</a> by capturing it right out of the atmosphere, according to a new study in Nature Communications. They’ve developed a gel film that costs just $2 per kilogram to produce and can pull water from the air in even the driest climates; 1kg of it can produce more than 6 litres per day in less than 15% relative humidity (RH), and 13 litres in areas with up to 30% RH. Relative humidity is the ratio of the current absolute humidity to the highest possible absolute humidity. So a 100% RH means that the air is completely saturated with water vapour and cannot hold any more. People tend to feel most comfortable between 30% and 50%, and arid climates have less than 30% RH. These results are promising, as previous attempts to pull water from the desert air have typically been energy-intensive and not very efficient. “This new work is about practical solutions that people can use to get water in the hottest, driest places on Earth,” says senior author Guihua Yu, professor of Materials Science and Mechanical Engineering at the University of Texas in Austin, US. “This could allow millions of people without consistent access to drinking water to have simple, water-generating devices at home that they can easily operate.” <div class="newsletter-box spai-bg-prepared"> <div id="wpcf7-f6-p192317-o1" class="wpcf7 spai-bg-prepared" dir="ltr" lang="en-US" role="form"> <form class="wpcf7-form mailchimp-ext-0.5.61 spai-bg-prepared resetting" action="/technology/gel-film-desert-drinking-water/#wpcf7-f6-p192317-o1" method="post" novalidate="novalidate" data-status="resetting"> <input class="wpcf7-form-control wpcf7-text referer-page spai-bg-prepared" name="referer-page" type="hidden" value="https://cosmosmagazine.com/technology/" data-value="https://cosmosmagazine.com/technology/" aria-invalid="false" /> </form> </div> </div> The gel is made with <a class="spai-bg-prepared" href="https://www.sciencedirect.com/topics/pharmacology-toxicology-and-pharmaceutical-science/hydroxypropyl-cellulose" target="_blank" rel="noreferrer noopener">hydroxypropyl cellulose</a> (HPC) which is produced from cellulose, and a common kitchen ingredient called <a class="spai-bg-prepared" href="https://www.sciencedirect.com/science/article/abs/pii/S0141813016310339" target="_blank" rel="noreferrer noopener">konjac glucomannan</a>, as well as lithium chloride salt (LiCl). It forms a hydrophilic (water attracting) porous film with a large surface area that collects the water vapour from air. “The gel takes two minutes to set simply. Then, it just needs to be freeze dried, and it can be peeled off the mould and used immediately after that,” explains Weixin Guan, a doctoral student on Yu’s team and a lead researcher of the work. And, because the cellulose is thermo-responsive, it becomes hydrophobic (water repelling) when heated which allows the collected water to be released within 10 minutes through mild heating at 60 °C. This means that the overall energy needed to produce the water is minimised. The film is also flexible, can be moulded into a variety of shapes and sizes, and producing it requires only the gel precursor – which includes all the relevant ingredients poured into a mould. “This is not something you need an advanced degree to use,” says lead author Youhong “Nancy” Guo, a former doctoral student in Yu’s lab and now a postdoctoral researcher at the Massachusetts Institute of Technology. “It’s straightforward enough that anyone can make it at home if they have the materials.” And because it’s so simple, the authors say the challenges of scaling the technology up and achieving mass usage are reduced.  <img id="cosmos-post-tracker" class="spai-bg-prepared" style="opacity: 0; height: 1px!important; width: 1px!important; border: 0!important; position: absolute!important; z-index: -1!important;" src="https://syndication.cosmosmagazine.com/?id=192317&title=Low-cost+gel+film+pulls+clean+drinking+water+from+desert+air%2C+raising+hopes+of+quenching+the+world%E2%80%99s+driest+communities" width="1" height="1" />  <div id="contributors"> <a href="https://cosmosmagazine.com/technology/gel-film-desert-drinking-water/">This article</a> was originally published on <a href="https://cosmosmagazine.com">Cosmos Magazine</a> and was written by <a href="https://cosmosmagazine.com/contributor/imma-perfetto">Imma Perfetto</a>. Imma Perfetto is a science writer at Cosmos. She has a Bachelor of Science with Honours in Science Communication from the University of Adelaide. Image: The University of Texas at Austin/Cockrell School of Engineering </div>

Technology

Prince Charles mocked over "cost of living" promise

Prince Charles has been relentlessly mocked online for a comment made in a speech at British parliament. The speech was originally meant to be delivered by his mother Queen Elizabeth, who was forced to pull out of yet another key public engagement due to health reasons. As snippets of the speech circulated online, the future king was mocked as he promised the government would aim to "ease the cost of living for families" - all while he sat on a golden, jewel-encrusted throne inside the ornate House of Lords. Many online couldn’t resist a few digs at the Prince over the stark contrast between his speech and his setting. <blockquote class="twitter-tweet"> i simply would have made this announcement from any other room, wearing any other outfit <a href="https://t.co/2u1XNn6Vj5">https://t.co/2u1XNn6Vj5</a> — rax ‘leads with her crotch’ king (@RaxKingIsDead) <a href="https://twitter.com/RaxKingIsDead/status/1524100216688885761?ref_src=twsrc%5Etfw">May 10, 2022</a></blockquote> <blockquote class="twitter-tweet"> Note to self. Do not give “cost of living” update while sitting on solid gold throne. <a href="https://t.co/rvhGu89xNO">https://t.co/rvhGu89xNO</a> — Paddy Andrews (@PaddyAMetis) <a href="https://twitter.com/PaddyAMetis/status/1524037178006937602?ref_src=twsrc%5Etfw">May 10, 2022</a></blockquote> <blockquote class="twitter-tweet"> Gotta love the irony of Prince Charles feigning concern about the cost of living, while decked out in more gold than Flavor Flav at the Pimp of the Year awards <a href="https://t.co/VirBplUoDz">pic.twitter.com/VirBplUoDz</a> — We're Werewolves Not Swearwolves (@punka1977) <a href="https://twitter.com/punka1977/status/1524006462611144705?ref_src=twsrc%5Etfw">May 10, 2022</a></blockquote> <blockquote class="twitter-tweet"> As he sits on his gold throne next to a hat made of precious jewels, English Prince Charles adorned with bogus medals talks about how his government will solve the cost of living crisis. Meanwhile, thousands of his subjects are forced to use food banks.<a href="https://twitter.com/hashtag/AbolishTheMonarchy?src=hash&ref_src=twsrc%5Etfw">#AbolishTheMonarchy</a> <a href="https://t.co/PZJQiKZyl5">pic.twitter.com/PZJQiKZyl5</a> — Graham Sanders 🏴󠁧󠁢󠁷󠁬󠁳󠁿 🇺🇦 (@gramatter) <a href="https://twitter.com/gramatter/status/1524134103674765313?ref_src=twsrc%5Etfw">May 10, 2022</a></blockquote> “Her Majesty’s Government’s priority is to grow and strengthen the economy and help ease the cost of living for families,” Charles said in the speech. “Her Majesty’s Government will level up opportunity in all parts of the country and support more people into work.” The Queen’s speech to parliament is traditionally penned by the government and is used to outline the Prime Minister’s plans for the country, meaning Charles would have had no actual input in the content of the speech. The Prime Minister’s office was later forced to defend the speech amid criticism that it did not outline any specific measures to alleviate the cost of living crisis in Britain. “The public understand that we’ve already acted to address some of the immediate challenges facing the public. “The Prime Minister and the Chancellor are very upfront that no government could address all of these global pressures that we’re seeing,” the Prime Minister’s official spokesman told <a href="https://www.thesun.co.uk/fabulous/18518084/queens-speech-live-watch-video-health-prince-charles-king/">The Sun</a>. “The Queen’s speech, the bills we’re bringing forward, focus on boosting economic growth across the country to create the conditions for more people to have high-wage, high-skilled jobs, so dealing with the medium to long-term issues, that’s what is a sustainable solution to ease the burden of families and businesses.” Image credits: Getty Images

Money & Banking

Are you ready for a bit of extra pocket money?

Millions of Aussies will receive a bit of extra pocket money to help combat the rising cost of living. With the cost of petrol now sitting at $2.40 a litre, and fruit and vegetables having soared in price - Aussies are really struggling. As of March 21, singles under the age, disability support and carer payments scheme will receive an extra $20.10 a fortnight, adding up to $987.60. Couples under the same payments will receive an extra $30.20 a fortnight, adding up to $1,488.00. Senior Australians will also be able to access part of their pension earlier on as the asset test limit increases. For a single homeowner, it has increased by $6,750 to $599,750 and for a couple it has gone up by $10,000 to $901,500. Single Jobseeker recipients will receive a $13.20 jump in their pay up to $629.50, while those under Parenting Payment Singles scheme will get an extra $18.20 to $874.10. Help for renters will also be increased to $145.80 for singles a fortnight and $193.62 for families. Social Services Minister Anne Ruston described the 2.1 per cent increase to pension payments as the largest since 2013. “It gives us a higher weighting to fuel and transport costs in recognition of their significance to pensioners, which helps ensure the rate of the age pension maintains senior Australians’ purchasing power in the economy,” she said. Labor Leader Anthony Albanese however slammed the Federal Government for being out of touch and claiming the increase would help. “This government is so out of touch that they’re prepared to spin out there saying how well pensioners are going to be off,” he said. “When they get to the supermarket to buy products they find that everything‘s gone up. “The rise in the pension will not keep up with the costs of living. Pensioners are doing it really tough at the moment.” Image: Shutterstock

Money & Banking

Woman shares the extraordinary cost of living with OCD

Kalista Dwyer’s life has been ravaged by her obsessive compulsive disorder - both emotionally and financially. The 22-year-old has shared an insight to her OCD by telling her followers on TikTok how much she spends to cater to the demands of her illness. While walking through a Target in the US, Kalista says she has experienced the disorder to such an extreme degree that it has left her with crushing debt, while treatment has set her back almost $60,000 in one year alone. “OCD has devastated me financially. It’s what I spend most of my paychecks on, it’s left me without savings and, in the past, a job,” she revealed. A particularly pricey element of her condition comes with the unavoidable compulsion to buy clothes in accordance with her frequently changing “safe” colours. “I’m constantly changing my safe colour, therefore I have to replace any clothes that are not that colour,” she explained. She is also forced to replace any clothing that she has had a bad experience or “intrusive thought” while wearing them. Kalista’s OCD has also given her the false belief that if she sees something on sale in a shop that there is “something wrong with it”, making her always buy products at full price. Her household purchases often outnumber that of a typical home, given her compulsion to maintain certain quantities of things at any given time. Another huge expense she faces is with food, as she is constantly under the belief that her food has expired and gone rotten, causing her to “spend upwards of $700 a month on groceries.” Kalista’s extensive list of expenses has drained her bank account, as she admits “I should have more money than I do.” She says her spending to appease her compulsions is an additional stress on top of the already complicated medical system in the US. “So yeah, being mentall ill is really f***ing expensive and it furthers the conversation on why mental health care is a privilege in America.” Image credits: TikTok @kalistadwyer

Mind

Free to good home: The house that costs zero dollars but comes with a catch

In a deal that’s almost too good to be true, a four-bedroom Sydney house is free to a good home. But, it comes with a catch: its new owners will need to remove it from the property and find a new patch of land to transport it to. The home, listed on Facebook and <a rel="noopener" href="https://www.gumtree.com.au/s-ad/cronulla/other-real-estate/house-for-removal-free-/1288343408" target="_blank">Gumtree</a>, is sure to gain some interest as property prices continue to skyrocket across the city. In Kirrawee in Sydney’s south, where the home is currently located, the median house price reached $1.3 million in the year ending last September, coming at an 18.2 percent increase on prices from the year prior. In comparison, the new homeowners will only need to pay to remove the home - which can cost <a rel="noopener" href="https://www.smh.com.au/property/news/four-bedroom-house-offered-free-with-just-one-catch-20220117-p59oru.html" target="_blank">around $70,000</a> on top of reconnection to services and plaster setting at the new site. <blockquote class="twitter-tweet"> Not your usual Facebook marketplace item! Free house - you only need to pay for removal and transport! How does that work out financially? Is that something anyone’s had experience with? Excuse me for being fascinated by any concept that isn’t COVID and/or Djokovic 😂 🏡 <a href="https://t.co/ugD9keuSLV">pic.twitter.com/ugD9keuSLV</a> — Lucy Thackray (@LucyThack) <a href="https://twitter.com/LucyThack/status/1482281605163286530?ref_src=twsrc%5Etfw">January 15, 2022</a></blockquote> According to the ad, which has since been shared on Twitter, the home is about 60 years old and comes with two bathrooms, two living spaces, a modern kitchen and a laundry. Homes have been known to sell without the land they stand on, with the home used as the set for The Castle selling for $40,000 at auction in 2017 as a relocatable home. In 2018, another house-only sale made headlines when it was listed for just $5,000 - a much cheaper option compared to the $25,000 it may have cost to demolish. As for the Kirrawee house, the deadline to clear the site is at the end of February, with the home able to be picked up at the start of March. Images: @LucyThack (Twitter), Gumtree

Real Estate

The Singapore-inspired idea for using super for housing that could cut costs 50%

During the past four decades in which home ownership among Australians aged 25-34 has sunk from around <a href="https://www.aihw.gov.au/reports/australias-welfare/home-ownership-and-housing-tenure">60% to 45%</a>, home ownership among the same age group in Singapore has climbed from around <a href="https://tablebuilder.singstat.gov.sg/table/TS/M810401">60% to 88%</a>. There’s a good chance that’s because Singapore is doing something right. What Singapore has that Australia does not is a public housing developer, the <a href="https://www.hdb.gov.sg/cs/infoweb/homepage">Housing Development Board</a>, which puts new dwellings on public and reclaimed land, provides mortgages, and allows buyers to use their compulsory retirement savings (what Australians call superannuation) for both a deposit and repayments. There’s more to it than that. It limits eligibility by income and age, requires owners to hang on to the property for five years, and limits their resale to only other eligible buyers. Eight in ten of all the dwellings in Singapore today were built over the past half century by the Housing Development Board. In a new paper released this month I suggest an Australian version called <a href="https://osf.io/nxq2u/">HouseMate</a>, that could halve the cost of buying a home. <h2>Introducing HouseMate</h2> <ul> <li> Housemate would build on underutilised crown, council, and federal land, land acquired by compulsory acquisition, or land purchased at market prices, and by tenders from private developers </li> <li> HouseMate would sell the dwellings at a discounted price (A$300,000 on average) to Australian citizens aged over 24 and in a de facto or married relationship and to single citizens aged over 28 and over, where no household member owns property </li> <li> HouseMate would offer loans underwritten by the federal government for up to 95% of the purchase price, charged at one percentage point above the cash rate, which at the moment would be 1.1% </li> <li> HouseMate buyers would be permitted to use their superannuation savings and contributions for both the deposit and ongoing repayments </li> <li> HouseMate buyers would be required to occupy the home, with limits on leasing and resale for seven years. They will own the home freehold, paying council rates, insurances, and having responsibility for maintenance and body corporate representation </li> <li> HouseMate owners could sell after seven years. But if they sell to the private market instead of another eligible HouseMate buyer, that would trigger a waiting period of seven years before the seller became eligible for another HouseMate home, and a fee of 15% of the sale price </li> </ul> <h2>Homes for half price</h2> <a href="https://images.theconversation.com/files/440816/original/file-20220114-25-qr9hwk.png?ixlib=rb-1.1.0&q=45&auto=format&w=1000&fit=clip"><img src="https://images.theconversation.com/files/440816/original/file-20220114-25-qr9hwk.png?ixlib=rb-1.1.0&q=45&auto=format&w=237&fit=clip" alt="" /></a> <a href="https://gameofmates.files.wordpress.com/2022/01/housemate_jan2022_vpublish.pdf" class="source">HouseMate, a proposed national institution to build new homes and sell them cheap to any citizen who does not own a home</a> My calculations suggest building these homes on land that would cost little (perhaps A$50,000 averaged across all types) would by itself cut the price 20-35%. The lower interest rate, and the use of superannuation savings for both the deposit and repayments would cut the “after super” cost saved by as much again, cutting the “after super” cost savings 50-70%. The use of superannuation savings where available makes sense. Home ownership does more for security in retirement than does super. Because the use of super would be quarantined to new HouseMate homes, it would be unlikely to push up the price of existing homes. No other housing policy change would do anything like as much to make homeownership cheaper, or to free up income for families at the times they need it most. The changes to tax arrangements often talked about, including changes to capital gains tax and negative gearing, might on my estimate at most cut prices by as much as 10% - enough to reverse only <a href="https://www.corelogic.com.au/news/housing-values-end-year-221-higher-pace-gains-continuing-soften-multi-speed-conditions-emerge">six months</a> of the past year’s price growth. <h2>There would be critics</h2> Because HouseMate would divert first home buyers away from private markets, private sellers would find reasons to argue it would be bad for the people it helps and somehow financially reckless or unsustainable. Banks would argue the same thing. But because the non-land cost of HouseMate dwellings would be mostly covered by the purchase price (and 15% of private resale prices) and the other costs would mostly be covered by the interest margin, the budget cost would be low - on my estimate peaking at A$1.7 billion after seven years and shrinking to $640 million after 20 years. The $1 billion or so per year would provide 30,000 affordable houses per year. Compared to the A$100 billion spent on the COVID JobKeeper scheme, that cost is a rounding error. Australia spends $125 billion per year on healthcare. Each year about <a href="https://www.fresheconomicthinking.com/2016/06/the-great-australian-town-planning-give.html">$11 billion</a> is given to private landowners through rezoning decisions. Taxing those value gains could fund HouseMate ten times over. <h2>We have got the land</h2> <a href="https://images.theconversation.com/files/440817/original/file-20220114-27-1sf1klu.png?ixlib=rb-1.1.0&q=45&auto=format&w=1000&fit=clip"><img src="https://images.theconversation.com/files/440817/original/file-20220114-27-1sf1klu.png?ixlib=rb-1.1.0&q=45&auto=format&w=237&fit=clip" alt="" /></a> The Australian Capital Territory has developed land for decades. Google Maps The New South Wales Land and Housing Corporation has four times the net assets of Singapore’s Housing Development Board at <a href="https://www.hdb.gov.sg/-/media/doc/CCG/HDB-Financial-Statements-for-the-year-ended-31st-March-2021.pdf">$54 billion</a>. Queensland’s Housing and Public Works has <a href="https://www.hpw.qld.gov.au/__data/assets/pdf_file/0013/6160/15financialstatements.pdf">$10 billion</a> in land assets. Victoria’s Department of Families, Fairness and Housing has <a href="https://www.dffh.vic.gov.au/sites/default/files/documents/202110/DFFH%20annual%20report%202020-21.pdf">$17 billion</a>. We could start by upgrading and selling existing public housing to its tenants under HouseMate rules. The Australian Capital Territory has operated this way for decades, developing low or zero cost rural land for housing and selling the homes at cost, although in recent decades it has acted more like a private developer, maximising revenue at the expense of putting people into homes. <h2>To start with, there would be bottlenecks</h2> HouseMate would be overwhelmed at first. I have suggested lotteries to allocate homes until the system ramps up. Just as Medicare didn’t displace but operated alongside the private health system, HouseMate would operate parallel to the private market, adding to overall supply rather than increasing demand in the private market. I’ll finish with a story. I met a Singaporean resident recently who moved to Australia to study social work. She said they don’t really have homeless people in Singapore because the Housing Development Board provided an option for almost everyone. To find homeless people required moving to Australia. I think we ought to try it. What’s the worst that could happen?<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; text-shadow: none !important;" src="https://counter.theconversation.com/content/174401/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/cameron-murray-172480">Cameron Murray</a>, Research Fellow - Henry Halloran Trust, <a href="https://theconversation.com/institutions/university-of-sydney-841">University of Sydney</a> 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/the-singapore-inspired-idea-for-using-super-for-housing-that-could-cut-costs-50-174401">original article</a>. Image: Shutterstock

Real Estate

Convenience, comfort, cost and carbon: what’s the best way to travel, save money and cut emissions?

As New Zealanders plan their summer holiday trips, it’s worth considering different travel options and their respective cost, both to the budget and the environment. I’ve <a href="https://www.massey.ac.nz/massey/fms/Research/Transport_article_Conversation_3.pdf">compared several travel modes (with all assumptions made found here)</a> — a small diesel car, electric car, bus, train or plane — for a door-to-door 300km return journey. The process has identified limitations for each mode, which may help policymakers better understand the challenges involved in developing a low-carbon transport system. New Zealand’s annual transport emissions have <a href="https://www.mfe.govt.nz/sites/default/files/media/Climate%20Change/new-zealands-greenhouse-gas-inventory-1990-2018-vol-1.pdf">nearly doubled</a> since 1990 and account for more than a fifth of total greenhouse gas emissions. Emissions from cars, utes and vans have continued to increase even though the <a href="https://www.motu.nz/our-research/environment-and-resources/emission-mitigation/shaping-new-zealands-low-emissions-future/a-timeline-of-the-nz-emissions-trading-scheme/">NZ Emissions Trading Scheme</a> has been in place for 14 years and has added a “carbon levy” of around 10-15 cents per litre to petrol and diesel. The Climate Change Commission has <a href="https://www.climatecommission.govt.nz/our-work/advice-to-government-topic/inaia-tonu-nei-a-low-emissions-future-for-aotearoa/">recommended</a> the government should: <ul> <li> reduce the reliance on cars (or light vehicles) and support people to walk, cycle and use public transport </li> <li> rapidly adopt electric vehicles </li> <li> and enable local government to play an important role in changing how people travel. </li> </ul> But is it realistic to expect governments to change how people travel? Providing information is perhaps the key. <h2>Transport comparisons</h2> A person’s choice of transport mode is based on a mixture of cost, comfort and convenience as well as speed and safety. But most New Zealanders choose their car out of habit rather than from any analytical reasoning. Carbon dioxide emissions are rarely a factor in their choice. Although more people now agree that climate change is a major issue, few have been willing or able to take steps to significantly reduce their transport-related carbon footprint. This analysis is based on my personal experiences travelling between my house on the outskirts of the city of Palmerston North to attend a meeting in the centre of Wellington. It relates to any other similar journey with a choice of transport modes, although the details will vary depending on the specific circumstances. I compared a 1500cc diesel car I owned for ten years with an electric car which has a 220km range and is mainly charged at home, using rooftop solar. The airport is 8km away from the house, the railway station 7km and the bus station 5km. I included “first and last mile” options when comparing total journey time, cost, carbon emissions, comfort and convenience. <iframe id="ph0I4" class="tc-infographic-datawrapper" src="https://datawrapper.dwcdn.net/ph0I4/8/" height="400px" width="100%" style="border: none;" frameborder="0"></iframe> <h2>Things to consider before a trip</h2> Travelling by car for one person is relatively costly but has good door-to-door convenience and can be quicker than the bus, train or plane, except during times of traffic congestion. Comfort is reasonable but the driver cannot read, work or relax as they can on a train. Car drivers usually consider the cost of fuel when planning a journey, but few consider the costs of depreciation, tyre wear, repairs and maintenance as included here. Should more than one person travel in the car, the costs and carbon emissions will be lower per passenger. <img src="https://images.theconversation.com/files/437335/original/file-20211213-17-446b2y.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=754&fit=clip" alt="Woman taking picture from small plane" /> A short plane journey, if nearly full, can have lower emissions per passenger than one person going by road in a diesel car. Shutterstock/Peter Gudella Taking a short-haul flight over this distance is relatively costly and the journey is no quicker since there is considerable inconvenience getting to and from the airports. The carbon dioxide emissions per passenger can be lower than for a diesel car (with just the driver), assuming the plane has around 80% occupancy. For one person, taking a bus or train can be significantly cheaper than taking a car and also offers lower emissions. However, the longer overall journey time and the hassles getting to and from the stations are deterrents. Infrequent bus and train services, often at inconvenient times, can also be disincentives to choosing these modes. <h2>Going electric</h2> <img src="https://images.theconversation.com/files/437334/original/file-20211213-25-4k5xtx.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=237&fit=clip" alt="Car park reserved for electric cars to recharge" /> Electric cars offer convenience and low emissions. Shutterstock/Ed Goodacre The electric car has low carbon emissions, especially if charged from a domestic solar system. Coupled with reasonable comfort and convenience and the lowest journey cost per person when carrying two or more passengers, this supports the government’s policy to encourage the deployment of EVs. Travelling by train is perhaps the best option overall for one person making this journey. The total cost is less than half that of taking a car. Emissions are around a third of the diesel car. Comfort is good, with the opportunity to work or relax. Making the whole journey more convenient will help encourage more people to travel by train and help reduce transport emissions. But this will require national and local governments to: <ul> <li> encourage Kiwirail to provide more frequent services </li> <li> electrify all lines </li> <li> provide cheap and efficient “first-and-last-mile” services to railway stations </li> <li> undertake a major education campaign to illustrate the full cost, carbon emissions and convenience benefits resulting from leaving the car at home.<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; text-shadow: none !important;" src="https://counter.theconversation.com/content/165526/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> </li> </ul> <a href="https://theconversation.com/profiles/ralph-sims-204224">Ralph Sims</a>, Emeritus Professor, Energy and Climate Mitigation, <a href="https://theconversation.com/institutions/massey-university-806">Massey University</a> 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/convenience-comfort-cost-and-carbon-whats-the-best-way-to-travel-save-money-and-cut-emissions-165526">original article</a>. Image: Shutterstock/Matej Kastelic

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Convenience, comfort, cost and carbon: what’s the best way to travel, save money and cut emissions?

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