How to Use the $750 Josh Frydenberg Gave You

$750 Josh Frydenberg

The government has handed out $750 to Australia’s low income earners

emergency stimulus package

Prime Minister Scott Morrison (r) and Treasurer Josh Frydenberg (l) announce an emergency stimulus package. src

As the COVID-19 pandemic continues to affect the country, the Australian government is making bold moves to contain the virus and restore the economy. Prime Minister Scott Morrison announced the a $17.6 billion stimulus package to jump-start the economy and bolster consumer confidence. The package includes one-time $750 payments to low-income households, especially those with pensioners.

The prime minister referred to the coronavirus pandemic as a “health crisis with very significant economic impacts,” and laid out details of the mitigation measures in a press conference in Canberra. The stimulus package is worth 1.2% of GDP, and the government may allocate more funds in the coming weeks depending on the severity of the pandemic.

The beneficiaries of the one-time $750 payments include some 2.4 million aged pensioners, people enrolled in Newstart, the disability or carers pension, the youth allowance, and veterans. The handouts will also be doled out to people on family tax benefits and holders of Commonwealth health cards.

A second $750 payment is in the pipelines

A second round of payments will begin on 13th July 2020. Eligible beneficiaries will include recipients of social security and veteran income support, and qualified concession card holders. But people within this demographic who are already on an income support payment that qualifies for coronavirus supplement will be excluded from the second payments.

There are about 5 million Australians who’re eligible for the second payment, and about half of them will be pensioners. This second round of handouts will cost the government some $4 billion.

Self-isolation and being stuck at home is the new order of the day

The lockdown in the country has dealt a huge blow to the economy, as life in society has literally come to a grinding halt. People are choosing (and being ordered) to stay at home because they’re concerned not only about their safety, but that of others as well. Self-isolation is no longer an individual thing, but a societal affair.

In the meantime, the government is looking to keep the economy going, including through the stimulus packages. “We know Australia’s more than 3 million small and medium businesses are the engine room of our economy. When they hurt, we all hurt,” noted Morrison. And when the lockdown is lifted, a bumpy ride will likely follow as we come to terms with the full economic fallout of the virus.

Now is a good time to consider your phone plan

Mobile connectivity has become the centerpiece of the society connecting people with their loved ones and businesses. And as we become increasingly dependent on mobile technology, this might be the best time to look into mobile phone plans now that we have more spare time at hand. With a significant economic downturn heading our way, you would want to get the best value for every dollar you spend on your phone plan.

Thankfully, the top telcos in the country have put forward generous offers ranging from data bonuses to bill waivers to ease the burden of connectivity for customers during the crisis. What’s more, you can discover highly valuable tips for getting more bang out of your bucks if you take out time to research mobile phone plans.

Final words – Long expiry plans and 12-month contracts are a great way to spend your stimulus payment

If you’ll be spending part of your $750 on mobile plans, you should consider taking advantage of Long Expiry plans and 12-month contracts to get more value for your spending. These deals may cost a lot more in the beginning since you need to pay a bulk of the total cost upfront. However, you can save up to 10% of the cost on a 6-month plan and up to 25% on a 12-month plan, in addition to bonus data allowances and talk time.

 

Neil Aitken

Having worked in 3 countries for 4 telcos on both voice and data products, Neil is in a position to give you the inside track. Get beyond the marketing messages to the best plan for you.