The Medicare Levy Surcharge (MLS) is an additional tax for higher-income Australians who do not have eligible private hospital cover, making private health insurance a worthwhile financial consideration for many. For the 2026–27 financial year, individuals earning over $105,000 and families earning over $210,000 may pay an MLS of 1% to 1.5% of their income, in addition to the standard Medicare levy. While private health cover can sometimes cost less than the surcharge itself, the decision should also consider factors such as policy benefits, excess, Lifetime Health Cover (LHC) loading, and personal healthcare needs. As income increases, private health insurance becomes not only a health decision but also an important tax and cashflow planning consideration.

Many of our most important money habits aren’t learned in school—they’re shaped at home, often through the quiet influence of parents, especially mothers. Through everyday conversations, behaviours, and life experiences, children develop their understanding of money early on, including how to spend, save, and make financial decisions. This article highlights essential lessons such as spending less than you earn, saving consistently, understanding needs versus wants, and making calm, thoughtful decisions. More importantly, it emphasizes that money is a tool—not a measure of self-worth—and that teaching these habits isn’t about perfection, but about consistency, awareness, and leading by example to build confidence, responsibility, and long-term financial independence.

The price of daily living has gone up — we’re all feeling financially fatigued: groceries, fuel, insurance, energy… it all adds up. So, let’s explore some simple, practical ways to make your money go further.