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hang on24 jul 2026

did money really just do that?

keeping track of your paycheck?

via allens.com.au
what it means for you

working in retail or hospo? you could be the prime target for wage theft cases.

tl;dr

both retail and hospitality sectors respectively accounted for 40% of all new australian class action suits this year, with most claims accusing employers of employee wage underpayment or theft.

the full story

a new report on australian class actions shows that the sectors hiring the most young people are also the ones most likely to be ripping them off. between january and june 2026, retail and hospitality became the biggest targets for legal action, mostly due to bosses failing to pay correct wages and superannuation. it is no longer just a civil dispute; since early 2025, intentional wage theft has been a criminal offence with potential prison time.

this wave of lawsuits arrives just as new payday super rules kick in, requiring employers to sync super payments with your regular pay cycle. the government is trying to claw back the estimated 6 billion dollars in super that goes unpaid every year. for you, it means the industry is finally being forced to clean up its act, but you will need to keep a closer eye on your payslips as these legal battles play out in court.

go deeper: super basics for your twenties

the big banksslapped withrecord fines

via sigma.world
what it means for you

after years of dodgy systems, the regulator is finally forcing the banks to pay you back.

tl;dr

the financial watchdog secured a record $830 million in penalties last year, with an estimated $644 million already reinstated back to the majority of affected customers.

the full story

it has been a massive year for the corporate watchdog, asic, which just posted its highest-ever tally of court-ordered penalties. the regulator has been on a warpath against big institutions that failed to protect customers from scams or ignored people asking for financial hardship support during the cost-of-living crisis.

for you, this means the 'too big to fail' era of banks ignoring the rules is getting a reality check. with hundreds of millions being funneled back into consumer pockets, it is worth keeping a close eye on your accounts for any remediation payments if you have been with hsbc or westpac lately.

go deeper: super basics for your twenties

interest ratestwice as risky

via theguardian.com
what it means for you

surging oil prices overseas are raising the likelihood of another larger hike in interest rates for us aussies.

tl;dr

financial markets now believe there is an 80% chance the RBA hikes interest rates in november all due to rises in global fuel prices.

the full story

a major jump in global oil prices is hitting home at the pump, with unleaded petrol prices climbing 25 cents in july alone. because fuel costs are a massive driver of inflation, the central bank is under pressure to keep interest rates high or even lift them again to cool things down.

while some big banks like nab have actually started cutting their fixed mortgage rates, the market's betting on a hike has doubled in just two weeks. if you have a loan or are looking to buy, keep an eye on the august 11 meeting where the chances of a surprise rise have already crept up to 30%.

go deeper: the three pillars of sustainable investing

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hang on — 24 jul 2026 | inaam | inaam