Australia has one of the highest penetrations of smartphone users in the world and individuals going overseas risk extreme "budget shock" if they allow their phones to keep them automatically updated about the weather, news and sporting results, much less using them for web browsing, email and video viewing.
The chart below, borrowed from our sister site Exfin, looks at how the Australian dollar has performed against 4 major currencies - the USD, GBP, Euro and JPY - over the past two months to the end of July, 2013.
The results of the OECD's first international survey of adult skills shows that Australian adults perform very well compared to other developed countries when it comes to literacy skills, but when it comes to numeracy the performance is only average.
Legislation was introduced into the Australian Parliament this week to increase compulsory employer super guarantee (SG) contributions from 9 per cent to 12 per cent. This is to be done in regular stages over the next seven years and the current age limit of 75 for making contributions will also be removed.
Offshore Term Deposits - A poor deal for Australian expats and offshore investors
Australian banks consistently offer poor value to Australian expatriates and foreign investors wanting to place cash in Australian dollar term deposits and at call accounts. The rates in the Australian domestic market continue to provide much better returns on your money, evening having regard to the
Current Australian mortgage interest rates are at 30 year lows. Typically, Australian expatriates once overseas rarely review their mortgage arrangements; usually on the presumption that is just "too much of a hassle" and, particularly if they are on variable mortgages, presume that their mortgage payments will remain competitive.
We are very much in favour of Australians considering retirement overseas, particularly into some of the lower cost Asian countries. It is not without it's challenges, and it's not for everyone, but in many cases it will provide retirees with an interesting lifestyle unattainable in Australia.