The Present Imagine there was a bank that credited your very own account each morning with a large sum of money. But, it carried over no balance from day to day. Every evening it deleted whatever part of the balance you failed to use during the day. What would you do? Draw out all of it, of course!
Each of us has such a bank. Its name is - Time. Every morning, it credits you with 86,400 seconds. Every night it writes off, as lost, whatever of this you have failed to invest to good purpose. It carries over no balance. It allows no overdraft.
Each day it makes a new deposit for you. Each night it burns the remains of the day. If you fail to use the day's deposits, the loss is yours. There is no going back. There is no drawing against the "tomorrow." You must live in the present on today's deposits. Invest it so as to get from it the utmost in health, happiness, and success!
The clock is running. Make the most of today. And remember that time waits for no one. Yesterday is history. Tomorrow is a mystery. But today is a gift. That's why it's called The Present!
1. Households stung for $1 billion in fees Australian households have been charged almost a billion dollars in unfair bank penalty fees in the past year, according to consumer advocate group Choice, which is calling on the government to do something about it. New data released by the Reserve Bank of Australia (RBA) shows the total fees paid by households to banks in 2008 is up by 8 per cent to $4.845 billion. These figures have been broken down for the first time to reveal that 20 per cent of bank fees paid by households in 2008 came from unfair bank penalty fees. Australian households have been charged almost a billion dollars in unfair bank penalty fees in the past year, according to consumer advocate group Choice, which is calling on the government to do something about it. New data released by the Reserve Bank of Australia (RBA) shows the total fees paid by households to banks in 2008 is up by 8 per cent to $4.845 billion. These figures have been broken down for the first time to reveal that 20 per cent of bank fees paid by households in 2008 came from unfair bank penalty fees. "These are the figures the banks didn't want you to see and they're much worse than even we expected," said CHOICE spokesman Christopher Zinn. "Consumers will be furious to learn that they were stung with almost $1 billion in unfair bank penalty fees last year." CHOICE says this figure is too high and must be halved by this time next year. The consumer group says banks need to act to: - Get rid of overlimit fees on credit cards.
- Ensure no account can be overdrawn without customer authorisation.
- Review every penalty fee and make sure it reflects the true cost incurred by the bank.
CHOICE says if banks choose not to bring these fees down and limit the circumstances in which they can be charged then the government will need to act. "The growing market dominance of the Big Four as a result of recent bank mergers means banks have customers over a barrel. This is an unacceptable situation," Zinn says. "As a result of CHOICE's campaign against unfair bank penalty fees the banks have already made some improvements in this area but this alarming figure shows there is a long way yet to go." 2. Incentives and renos build future  There are already strong signs of a recovery for the housing industry over the next financial year, according to a new report.
Commenting on the release of the March 2009 quarter HIA National Outlook publication, HIA Chief Economist, Dr Harley Dale, said this week that substantial fiscal stimulus and large interest rate reductions will see new home building grind out a recovery from mid 2009. There are already strong signs of a recovery for the housing industry over the next financial year, according to a new report. Commenting on the release of the March 2009 quarter HIA National Outlook publication, HIA Chief Economist, Dr Harley Dale, said this week that substantial fiscal stimulus and large interest rate reductions will see new home building grind out a recovery from mid 2009. The number of housing starts was forecast to fall by 17 per cent in 2008/09 to a level of 132,000 before growing by 11 per cent over the subsequent two years. The report shows that the renovations sector, which accounts for 47 cents in every dollar spent in the housing industry, is holding up well. "Following a steady 2008/09 we are forecasting an increase in total renovations investment of 6 per cent over 2009/10 - 2010/11," Dale said. "Renovations activity hit a record worth of nearly $31 billion in 2007/08 and our forecast is for the value to be well on the way to $33 billion in 2010/11." 3. WA to change transfer duties The Western Australian Government has announced a series of planned changes which will allow homebuyers to pay transfer duty as part of the settlement process. Treasurer Troy Buswell said the combination of duty laws, banking practice and contract conditions all currently contributed to a requirement to produce a stamped transfer document at the time of settlement. The Western Australian Government has announced a series of planned changes which will allow homebuyers to pay transfer duty as part of the settlement process. Treasurer Troy Buswell said the combination of duty laws, banking practice and contract conditions all currently contributed to a requirement to produce a stamped transfer document at the time of settlement. "In the past few years, one of the most common complaints by home buyers has been the need for them to pay transfer duty before settlement takes place," Mr Buswell said. "As a result, many buyers are inconvenienced by having to pay the duty from their own funds or arrange for their bank to pre-release a portion of the loan to facilitate the early payment of duty. The Treasurer said that the planned solution was multi-faceted, involving legislative change, significant computer system enhancements and the use of the Office of State Revenue's electronic assessment system by settlement agents. "Significant industry consultation, including with the Australian Institute of Conveyancers (WA), has taken place on the design of the new arrangements," he said. Mr Buswell said he intends to introduce legislation into State Parliament in the second half of 2009 and hopes the computer system developments would be completed in time for the new arrangements to commence by the start of the 2010-11 financial year. 4. Plant your trees while the sun don't shine  Last Friday was World Environment Day, but don't fret if you didn't get involved in the day's festivities and tree planting sessions, you still have plenty of chances.
Last Friday was World Environment Day, but don't fret if you didn't get involved in the day's festivities and tree planting sessions, you still have plenty of chances. Planting trees tops the United Nations list of Things People Can Do to green their lives, as it helps to maintain and enhance biodiversity, and to preserve native plants, birds, fish and insects as well as their support systems and food supplies - forest, streams, wetlands, and seas. Many local councils support and organise planting days during `tree planting season' - basically winter, from May to August. During this time, volunteers join regional parks' staff to plant trees, helping to restore habitats and revegetate parks, as well as other local sites that could afford to show a little more green. The UN promotes tree planting on and around World Environment Day because trees can be planted during June on every continent, and every new tree contributes to its target of seven billion planted by the end of the year. You can follow the tree campaign's progress on Twitter. 5. Greening the golden oldies Heritage buildings in the UK are to be given a green makeover, according to a recent report in Country Life magazine. The magazine reports that the National Trust plans to renovate 5000 buildings over the next five years to meet a minimum set of environmental standards, including the installation of loft insulation and water saving devices. Castle Drogo in Devon, for instance, will have recycled glass flooring in the entry, rainwater supplying its lavatories and recycled newspaper installed as insulation in the roof. It is also upgrading its heating, from oil boilers to a biomass version fuelled by local woodchips. 6. Multitasking mirrors  There have been some bizarre developments recently in the design of bathroom mirrors, many of which seem to stem from a love of multi-tasking. But hey, if you're going to spend time in front of one, why not get the most out of the experience?
In the past we've seen an LCD TV built into a mirror, created by a stock exchange agent with a desire to keep an eye on the market at all times and the Who Tall Are You mirror, that charts your height and matches it to a famous celebrity of the same stature.
Now there's the Maitre bathroom mirror, living up to its name with a touch screen console that activates an integrated radio, clock, barometer and mp3 player, while a sensor activates a demister so you won't get cold waiting for the fog to clear. | |
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