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Forget forgetting – simple ways to improve your memory
We’ve all heard the old saying ‘an elephant never forgets’- but unlike elephants, we humans certainly don’t have flawless recall. Forgetting where you left your keys or the name of the person you met last week, is all too familiar. Memory lapses happen to the best of us, but there are ways to sharpen your memory and boost brainpower.
How are memories formed?
Memory works through three key stages: encoding, storage, and retrieval. Encoding is when the brain processes information from your senses and turns it into a format that can be stored. Next, short-term memories are stored briefly, while long-term memories are kept in the brain called the hippocampus. Finally, retrieval is recalling stored memories, triggered by cues such as sights, sounds, or emotions. While memory helps us navigate life, it can sometimes be imperfect, influenced by a range of factors.
The good news is there are things you can do to help your brain stay sharp.
Tips to improve memory
Sleep: your brain’s power nap
We know that feeling when we’re sleep-deprived: foggy and wondering why we walked into a room in the first place. Well, there is a reason for that, your brain processes and stores new information while you sleep and deep sleep helps to consolidate memories, so the more restful your slumber, the better your memory.
Exercise: more than just physical gains
It’s not just your muscles that benefit from a good workout—your brain does too! Studies have shown that regular physical exercise can improve memory and cognitive function. When you move, your heart pumps more oxygen to your brain, and new brain cells are formed. Plus, exercise helps to reduce stress, which can negatively impact your memory.
You don’t need to run marathons or lift massive weights, a simple brisk walk can work wonders.
Stress less: your memory needs it
Stress is like that annoying cold caller who just won’t leave you alone. It messes with your ability to think clearly, hampers memory recall, and can even damage your brain over time. Stress, especially chronic stress, can interfere with the part of your brain responsible for memory so finding ways to unwind, like taking a warm bath, or simply taking deep breaths, can help support memory.
Keep your brain engaged: never stop learning
Your brain functions in a similar manner to a muscle—the more you use it, the stronger it gets. Keep your brain engaged; do crosswords and jigsaw puzzles. Learn new things, whether it’s a new language or a musical instrument to build neural connections and keep your memory sharp. The trick is to constantly challenge yourself – by the time you sound OK on that instrument, your brain is not working as hard, so step things up a notch or take on a new endeavour.
Memory techniques help
Did you know that ancient Greeks used to memorise long speeches using specific techniques? One popular method is called the memory palace technique. It’s creating a vivid mental image of a place you’re familiar with, like your house, and mentally placing the things you want to remember in different rooms or corners.
For example, if you need to remember a list of groceries, imagine placing bananas in the kitchen, milk in the living room, and bread in the hallway. When it’s time to recall the list, you just “walk” through your memory palace and pick up the items. It may sound a bit wacky, but it works!
Or, who better to look to for memory techniques than Dave Farrow, Guinness Record holder for memorizing 59 decks of shuffled cards, which is an astounding 3,068 cards.i In addition to the memory palace technique, Dave uses a quirky trick: looking up. Nobody knows why looking up works when we are trying to recall something, but we do know that it sends more energy to your cerebral cortex and hippocampus, the memory centres of the brain.
Remember, your brain is your most valuable asset—treat it well and try some of these strategies. Before you know it, you might be impressing your friends with how sharp your memory is (and avoiding turning the house upside down to find your keys!).
Boost your future: How extra super contributions add up
With the financial year end approaching, now is the perfect time to consider making additional contributions to your superannuation. Despite rising living costs affecting households nationwide, superannuation remains one area of personal finance you can improve without significant immediate financial strain.
Making strategic investment decisions and finding ways to contribute more to your super now can substantially boost your retirement savings over the long term. Thanks to compound interest, these extra contributions can make a meaningful difference to your future lifestyle options.
Australians Super Knowledge Gap
A September 2024 ASIC Moneysmart roundtable revealed that nearly half (48%) of millennials surveyed were unsure how much they could contribute to their super. This knowledge gap extends beyond millennials. Vanguard’s 2024 “How Australia Retires” research found that almost half (49%) of working-age Australians have never made personal (additional) contributions to their super, and more than a quarter (27%) have no plans to make future personal contributions. To assist you in better understanding your options to boost your future through extra super contributions, here are a few contributions you could consider.
Understanding the Superannuation Framework
Under the current Superannuation Legislation, Australian employers must contribute 11.5% of employees’ ordinary time earnings to superannuation (which will increase to 12% on 1 July 2025). Superannuation contributions up to the concessional limit of $30,000 per person each financial year are taxed at just 15%1 . If your employer’s contributions don’t reach this $30,000 limit, you can make up the difference yourself while enjoying the same low tax rate.
Concessional (Before-Tax) Contributions
You can make these contributions either:
• Through salary sacrifice arrangements with your employer
• By depositing after-tax money directly into your super account and then claiming a tax deduction in your next tax return
These contributions are taxed at 15% within your super fund. However, if your income and concessional contributions exceed $250,000 in 2024/25, you may have to pay an additional 15% tax on some or all of your concessional contributions. There is an annual cap for concessional contributions, which is currently $30,000. However, depending on your contribution history over the previous five years, you may also be eligible to make additional “carry-forward” contributions. You may be able to contribute more than $30,000 this financial year using unused concessional contributions caps from the previous five financial years, if eligible. NOTE: If you are aged between 67 and 75 at the time of making a concessional contribution, you must meet the work test requirement for the relevant income year or one of the work test exemptions.
Non-Concessional (After-Tax) Contributions
These are personal contributions you make from after-tax money and cannot claim as a tax deduction. The main advantage is accumulating more of your money inside the super system, where: • Investment earnings are taxed at up to 15% • After age 60, if you’ve stopped work and access your super as a pension, your investment earnings and payments are completely tax-free The current non-concessional contribution limit is $120,000 per financial year. However, using the “three-year bring-forward rule,” you may be able to contribute up to $360,000 in a single financial year. If you make a non-concessional contribution to superannuation, you may qualify for the government co-contribution of up to $500. The amount of the co-contribution will depend on your income and the amount of the contribution.
Contributions Splitting
Couples can split up to 85% of their annual concessional contributions with an eligible spouse, including employer contributions, additional salary sacrifice and personal super contributions. This splitting must occur after the end of the financial year in which the contributions were made. Super splitting can happen at any age, but your spouse must be either: • Under their preservation age (the age at which they can access super), or • Between their preservation age and 65, and not retired Before pursuing this strategy, check whether your super fund allows contribution splitting.
Spouse Contributions
If you make an after-tax contribution into your spouse’s superannuation, you may qualify for a tax offset of up to $540. The amount contributed will count towards your spouse’s nonconcessional contributions cap. To be able to access the tax offset of $540, the amount of the contribution must be at least $3,000 and the spouse’s income cannot exceed $37,000 per annum. The tax offset will reduce if the spouse’s income is between $37,000 and $40,000 per annum.
Get Professional Advice
Super and retirement planning can be complex. It’s crucial to fully understand contribution types and limits, as exceeding the applicable caps can result in significant tax penalties. Agebased limits on super contributions also apply.
Call us for personalised advice if you’re unsure about your super options.
Fostering wellbeing in the workplace
Roger was an auditor at a large multinational consulting firm. He was a conscientious worker, confident, capable and always positive. But Roger’s cheerful smile concealed a private burden.
For years, Roger had struggled with depression and anxiety. Yet each day, he put on a brave face at work while sadness and apprehension shadowed him.
According to Beyond Blue, nearly half of us will experience mental health concerns in our lifetime. A 2019 inquiry by the Australian Productivity Commission found that mental ill-health costs Australian businesses up to $180 billion per year through lost productivity.
During the COVID-19 pandemic, the number of people experiencing stress and anxiety-related health issues increased dramatically, often resulting from isolation and remote work arrangements.
As Roger’s private battle worsened, it began to overwhelm him. He became forgetful, struggled to concentrate and missed deadlines. Such physical symptoms left him feeling even more depressed, and undermined his self-esteem, leaving him with a sense of hopelessness.
Mary-Ann, Roger’s manager, realised something was amiss when Roger made a rookie mistake on a simple task. She decided to check in with him over coffee.
Businesses nowadays have a greater awareness of employee mental health and its impacts, than in the past. Nevertheless, many people, fearing judgement and discrimination, continue to suffer in silence.
Relaxed in the neutrality of a café, Roger cautiously confided that he’d been struggling with feelings of anxiety and despondency for some time but had been too afraid to speak up.
Mary-Ann listened patiently, gently encouraging him to talk about his struggles.
Surprised by her empathy, Roger admitted that he’d been feeling so overwhelmed in group settings that he’d become withdrawn and was unable to contribute to team meetings. He’d even been avoiding social events with colleagues and friends.
In recent years, there has been a shift in attitudes towards mental health in the workplace. Factors such as education, support groups, regulatory policy changes and organisational culture have contributed.
Mary-Ann assured Roger that she would fully support him in seeking assistance, and together they would develop a work design to accommodate his needs, including flexible hours and regular one-on-one check-ins.
She explained that their organisational policy authorised her to assess Roger’s specific needs in relation to:
- his tasks, responsibilities, and the people and teams he interacted with,
- his levels of frustration, stress and boredom,
- appropriate breaks and fatigue recovery,
- enabling his sense of control and flexibility over his workload,
- implementing policies and procedures for responding to bullying, stress and harassment.
With Roger’s approval, Mary-Ann facilitated a meeting between him and Jack, the company’s HR Workplace Health and Safety Manager. Jack provided Roger with information around the company’s mental health policy and external counselling services.
Roger began seeing a professional counsellor. This, combined with the support and resources provided by the company, saw Roger become more confident and able to cope; his smiling face was no longer a façade.
Mental health touches every facet of your life, from your work – how you work and how you feel about work – as well as your life outside of work.
For Roger, his gradual recovery has been a positive transition that has pervaded not only his work life but his home and social life as well.
Roger considers himself a work in progress, but he also says that every day is a better day because he’s no longer fighting his battles alone.
Mental health does not discriminate. It can affect anyone regardless of age, gender, ethnicity or other factors.
Organisations like Beyond Blue and Lifeline can provide assistance if you’re feeling as though life is getting on top of you. Additionally, they provide advice to employers wishing to ensure their workplaces are supportive environments.
If you’re feeling unsettled at work, or you’re struggling to cope, reach out to your HR department or your manager for guidance.
Update:
Since regaining control of his personal well-being, Roger has undertaken the company’s newly created role of Mental Wellness Officer (MWO). He has not relinquished his former duties, but in his capacity as MWO, he provides direction and help to others in the organisation struggling with workplace mental health.
Federal Budget 2025-26 Analysis
The Treasurer aims to “rebuild living standards”.
Much of the 2025 Federal Budget was already known, after a volley of pre-election spruiking for votes. But Treasurer Jim Chalmers had one surprise up his sleeve – $17 billion in tax cuts. The first round of cuts will kick in on 1 July 2026 and second round on 1 July 2027, saving the average earner $536 each year when fully implemented.
With the next Federal Election due to be called any day, the Treasurer named five priorities for his fourth budget: helping with the cost of living, strengthening Medicare, building more homes, investing in education, and making the economy stronger.
He called it a plan for “a new generation of prosperity in a new world of uncertainty” that would help “finish the fight against inflation”.
The big picture
The Budget deficit has made an unwelcome, but not surprising, return. The Albanese government has been clear that we were headed back into the red and Treasurer Chalmers says the $42.1 billion deficit is less than what was forecast at both the last election and at the mid-year update. Gross debt has been reduced by $177 billion down to $940 billion, saving around $60 billion in interest over the decade.
Nonetheless, Australia is navigating choppy international waters with a “volatile and unpredictable” global economy.
Australia will feel the shockwaves from escalating trade tensions, two major global conflicts – in Ukraine and the Middle East, and slowing growth in China. Treasury predicts the global economy will grow by 3.25 per cent in each of the next three years in the longest stretch of below-average growth since the early 1990s.
However, Australia is in a good position to deal with the difficult conditions, the Treasurer says.
The Australian economy has “turned a corner” and continues to outperform many advanced economies. Inflation has moderated “significantly”, and the labour market has outperformed expectations. Meanwhile growth is predicted to increase from 1.5 per cent to 2.5 per cent by 2026-27.
Addressing the cost of living
With the rising cost of living expected to be central to the upcoming election campaign, the Budget aims to deliver more support to those doing it tough with further tax cuts, changes to Medicare and the Pharmaceutical Benefits Scheme (PBS), cuts to student debt and wage increases for aged care and childcare workers among a number of initiatives
Apart from the new tax cuts due in 2026 and 2027, the government will increase the Medicare levy low-income thresholds from 1 July 2024.
The energy bill relief is also being extended to the end of this year. At a cost of $1.8 billion, every household and around one million small businesses will each receive $150 off their electricity bills in two quarterly payments.
The government claims that energy bill relief has helped to drop electricity prices by 25.2 per cent across 2024.
Students aren’t forgotten in the Budget with a cut of $19 billion in student loan debt, with all outstanding student debts reduced by 20 per cent and a promised change to make the student loan repayment system fairer.
The government is tackling the cost of living where it’s often most obvious – at the cash register. It is providing support for fresh produce suppliers to enforce their rights and will make it easier to open new supermarkets. It’s also planning to focus on “unfair and excessive” card surcharges.
Looking for a clean bill of health
Almost $8 billion will be spent to expand bulk billing, the largest single investment in Medicare since its creation 40 years ago.
Treasurer Chalmers says nine-out-of-10 GP visits should be bulk billed by the end of the decade with an extra 4,800 bulk billing practices.
There’ll also be another 50 Urgent Care Clinics across the country, taking the total to 137, and public hospitals will get a boost of $1.8 billion to help cut waiting lists, reduce waiting times in emergency rooms and manage ambulance ramping.
Cheaper medicines
The cost of medicines is also in the government’s sights. The maximum cost of drugs on the Pharmaceutical Benefits Scheme (PBS) will be lowered for everyone with a Medicare Card and no concession card. From 1 January 2026, the maximum co-payment will be lowered from $31.60 to $25.00 per script and remain at $7.70 for pensioners and concession cardholders. Four out of five PBS medicines will become cheaper for general non‑Safety Net patients, with larger savings for medicines eligible for a 60‑day prescription.
An extra $1.8 billion is also being invested to list new medicines on the PBS.
Increasing the housing stock
The government’s previously announced target of 1.2 million new homes over five years has seen 45,000 homes completed in the first quarter.
The budget sees an extra $54 million to encourage modern construction methods and $120 million to help states and territories remove red tape.
With building set to increase, more apprentices are needed, and the government has announced financial incentives of up to $10,000 to encourage more people to take up apprenticeships in building trades. Some employers may also be eligible for $5,000 incentives for hiring apprentices.
The Help to Buy program that allows homebuyers to get into the market with lower deposits and small mortgages will be expanded with an extra $800 million to lift property price and income caps to make the scheme more accessible.
To help increase housing stock available, foreign buyers will be banned from purchasing existing dwellings for two years from 1 April 2025. Land banking by foreign owners will also be outlawed.
Recovering and rebuilding
The damage from ex-Tropical Cyclone Alfred and subsequent rains in Queensland and northern New South Wales is so extensive that it is expected to wipe a quarter of a percentage point off quarterly growth.
Flooding has damaged infrastructure and disrupted supply chains, agricultural production, construction, retail, and tourism activity.
The government expects costs of at least $13.5 billion in disaster support. As a result, the Budget includes $1.2 billion to be placed in a contingency fund to better respond to future disasters.
Looking ahead
Despite concerning events on the world stage, Australia’s economy is emerging “in better shape than almost any other advanced economy”.
Inflation and unemployment are coming down and wage growth will be stronger. To help underpin continuing economic growth, the Budget adds $22.7 billion to the government’s Future Made in Australia agenda.
It includes extra investment in renewable energies and low emissions technologies and an expansion of the Clean Energy Finance Corporation. The plan also includes more than $15 billion in support for private investment in hydrogen and critical minerals production, clean energy technology manufacturing, green metals, and low carbon liquid fuels.
And, as the trade war kicks off, the Budget allocates $20 million to a Buy Australian campaign.
“The plan at the core of this Budget is about more than putting the worst behind us. It’s about seizing what’s ahead of us,” the Treasurer says.
If you have any questions about the Budget measures announced, please don’t hesitate to contact us.
Information in this article has been sourced from the Budget Speech 2025-26 and Federal Budget Support documents.
It is important to note that the policies outlined in this article are yet to be passed as legislation and therefore may be subject to change.