How shopping can help your superannuation balance

How shopping – online or instore – can make a real difference to your superannuation balance

Women make 80% of household shopping decisions

That’s a huge number! At Super Rewards, we think about all the time and effort invested in our household shopping decisions. We are two mums, who each have young families. Our shopping decisions range from smaller decisions such as the dinner menu for that evening, through to our next holiday. Every day is filled with at least 10 decisions on what to buy, where to buy, and how to buy it.

Why is it women who are primarily responsible for the decisions? Of the 18-64yo female population, 40% aren’t working and 36% work part-time or casually, usually because of family responsibilities. So there’s definitely an element of ‘availability’ to make these shopping decisions. But, even for the 24% of women who work full-time, they spend a lot more time on household chores/maintenance than men; this ASIC infographic tells us that the average full-time working woman spends 44 hours on household duties.

The juggle of work, family and household for Australian women is real

Time is money – and your super

The thing about spending all this time doing housework, chores, unpaid childcare etc – is that it actually costs Australian women. The 2018 HILDA (Household Income and Labour Dynamics of Australia) survey shows that women spend 28 hours on household chores per week – compared to men’s 14 hours. (The men have improved over time by the way.) 28 hours – that’s 2 days of full-time work, for which you could have been paid!

Here’s the kicker: while women are busy doing the shopping and the chores and the childcare – they’re not being paid to do so. And when you’re not earning an income stream, you’re not contributing to your superannuation. As we know from multiple media articles, women retire with roughly 58% as much super. Partly because we’re all so busy looking after everyone else but ourselves!

So we asked…WHAT IF?

What if we could monetise that unpaid work? Find a way to reward women for doing the shopping? Generate cash rewards into their superannuation, so that they can retire with more?

So we built Super Rewards. Super Rewards is cash top-ups, into your super, from Australia’s leading retailers. You shop – instore or online – and you earn cash directly in to your super. $5 here, $10 there.

Each individual cash reward may not sound a lot – but think about your weekly spend. The average Australian household spends roughly $1500 per week. If you used Super Rewards for, say, half of your shopping, then you could generate over $500 in your super each year! Use this handy ASIC compound interest calculator to understand what that could mean for your superannuation. Here is the chart showing the results of $500 extra per year, over 20 years – that’s a massive addition to anyone’s superannuation balance. And just through shopping!

Compound interest chart showing $500 annual contribution over 20 years, with an initial balance of $50,000.

Everyone shops differently so play with our super rewards calculator to understand how much extra YOU could add to your superannuation through Super Rewards. And sign up for more information to stay up to date with Super Rewards!

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Retailers

This is a quick view of a collection of our retailers. To view all, please go to super-rewards.com.au

Accessories

Threadicated

Threadicated

Nautica

Nautica

katespade

Kate Spade

oroton

Oroton

witchery

Witchery

Baby and Children

kidsbrightstar

Bright Star

Bright Star Kids

Queen Bee

Queen Bee

Queen Bee

thatbabyshop

That Baby Shop

Beauty

nudebynature

Nude by Nature

fresh

Fresh

Fresh

endotaspa

Endota Spa

Endota Spa

sephora

Sephora

Sephora

Nourished Life

Nourished Life

Nourished Life

HARDTOFIND

Hard to find

Hard to find

Clothing and Fashion

modibodi

Modibodi

Modibodi

rockmans

Rockmans

Rockmans

hellomolly

Hello Molly

Hello Molly

showpo

Showpo

Showpo

ugg

Ugg

Ugg

Gabo+Kelly

Gabo+Kelly

Gabo+Kelly

Lacosta

Lacosta

Lacosta

Rodd & Gunn

Rodd & Gunn

Rodd & Gunn

THEICONIC

THE ICONIC

THE ICONIC

COUNTRYROAD

COUNTRY ROAD

COUNTRY ROAD

seike

Seike

bonds

Bonds

Lingerie and Swimwear​

sunburn

Sunwear

Sunburn

seafolly

Seafolly

brasnthings

Bras 'n Things

bendon lingerie

Bendon Lingerie

Electronics

bing lee

Bing Lee

Bing Lee

Apple

Apple

Bose

Bose

Bose

Lenovo

Lenovo

Lenovo

Men's Fashion

Gabo+Kelly

Garbo & Kelly

Rodd & Gunn

Rodd & Gunn

Food and Drink

Woolworths

Woolworths

Woolworths

BWS

BWS

BWS

marley spoon

Marley Spoon

Marley Spoon

vinomofo

vinomofo

vinomofo

jimmybrings

jimmy brings

jimmy brings

gourmet basket

Gourmet Basket

Gourmet Basket

edibleblooms

Edible Blooms

Edible Blooms

getwinesdirect

Get Wines Direct

Get Wines Direct

Home Entertainment

JBL

JBL

JBL

Home and Gifts

BookTopia

BookTopia

petals

Petals

Petals

interflora

Interflora

Interflora

livingstyles

Living Styles

Living Styles

adrenaline

Adrenaline

Adrenaline

Homewares

thegoodguys

The Good Guys

The Good Guys

lowes

Lowes

Lowes

Household

Renovation Store

Renovation Store

Renovation Store

Shoes

Hushpuppies

Hush Puppies

Ugg

Sport and Fitness

puma

Puma

Puma

footlocker

Footlocker

Footlocker

Travel

hotelscombined

Hotels Combined

Hotels Combined

travelinsurance

Travel insurance

Travel insurance

covermore

Cover More

Cover More

viator

Viator

Viator

edreams

eDreams

eDreams

qatar

Qatar

Qatar

pocruises

P & O Cruises

P & O Cruises

sta travel

Sta Travel

Sta Travel