Here’s what you need to know today

• The Olympics is officially over and with 18 gold medals, Australia has enjoyed its most successful games ever. That was good enough for 4th place behind the US, China and Japan. Now we turn to the Paralympics starting on 28 August.
  
  

• The potential restriction on gambling ads in Australia continues to get closer. While the government will likely water down the recommended full ban on gambling ads, reports are that lobbying is ramping up as the government nears a final decision. As we wait, a surprising voice joined those calling for a complete ban on gambling ads - former Prime Minster John Howard. 
  
  

• The deputy governor of the Reserve Bank of Australia, Andrew Hauser, has lashed out at “false prophets” making interest rate predictions that leave people who follow them worse off. There’s a certain irony to his comments given his boss, RBA Governor Michele Bullock, last week suggested no rate rises before Christmas and back in 2021 former Governor Phillip Lowe predicted no rate rises before 2024.
  
  

• China has a new richest person. Colin Huang, the founder of Pinduoduo (owner of Temu), now takes the mantle. Temu has gone from strength-to-strength business-wise although it has courted plenty of controversy along the way. 
  
  

• Staying in China, the country has hit a massive electric vehicle milestone. In July, for the first time ever, more than half of all cars sold were electric or plug-in hybrid. Just 3 years ago, EV sales were 7%. Last month, they were 50.7%.
  
  

• The rise of social commerce continues. As more and more young people are looking to buy directly on social media platforms like Instagram and TikTok, Amazon has just announced a partnership with TikTok and Pinterest where shoppers can buy items directly from Amazon without leaving the social media app environment.

What the…?

In a small town in Texas, the solution to our housing crisis may be slowly toiling away. A giant 3D-printer is building 100 homes in Georgetown, Texas. Once finished it will be the largest 3D-printed neighbourhood in the world.

The printer uses a concrete mixture to create one-story homes with three or four bedrooms in roughly 3 weeks. While it is exciting, we’ve seen the promise of faster home-building before - the ASX-listed FBR (previously Fast Bricks Robotics) comes to mind.

Investing is a lifelong journey

Here’s what you can learn today.

Two quick fire questions with Glen Hare, financial adviser and co-founder Fox & Hare

Question 1: Chess sponsored or custodial broker?

Custodial broker.

Custodial brokers often offer greater flexibility and access to a broader range of international markets and securities, which can be a significant advantage. While costs are always a consideration, custodial brokers typically provide a more comprehensive suite of services and investment options. They can cater to more complex investment strategies and offer better integration with other financial tools and platforms.

While I see merit in both options, custodial brokers generally edge ahead for those looking for greater flexibility and broader investing capabilities.

Question 2: Credit cards for the points or no credit cards at all?

No credit cards at all.

The research shows that even if you manage to avoid paying interest on your credit card, you end up spending about 20% more on average compared to using other payment methods. This increase in spending can negate any benefits gained from points or rewards.

For our clients who are fond of using credit cards for the points, we often recommend segregating card use specifically for larger expenses or bills rather than everyday purchases. This approach makes it easier to track spending and minimises the risk of overspending. By doing so, you can still capitalise on the benefits of credit card points without adversely impacting your financial discipline.

Feeling ready to speak to a financial adviser? Fill out the form on our website and we’ll connect you for a no-obligation initial chat with one of our hand-picked advisers

Today’s sponsor is Australian Property Scout

Join Sammy Gordon, Equity Mates’ regular property expert, as he is joined in the studio by co-host Jimmy and Property Investor Jason Titus who details how a family guarantor loan on his first property got him onto the ladder, and helped him kickstart his 4 property portfolio.

This episode is packed with lessons and learnings from Jason as he reveals how his journey started, and how he turned this gift from his parents into a growing portfolio that is building in size every year. Jason has only tipped $32,000 of his own money into his portfolio.

Tune in to this inspiring and educational episode on the Scouting Australia Podcast on all your favourite listening platforms.

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