With the Albanese Government returned to office with a larger majority, many Australians are wondering how this next term will affect their finances. Promises like cost-of-living tax cuts, changes to HECS debt, more investment in healthcare and housing, and increased childcare support are now expected to roll out. But while the focus is local, global uncertainty is having an impact.
On this episode of 20Twenty, finance expert Alex Cook, founder of Wealth With Purpose, joined us to help unpack what all of this means from a Christian perspective.
Global Uncertainty is Having an Impact
“Since we last spoke, the stock markets have been on a roller coaster,” Alex said. “Trump announced massive tariffs unexpectedly, and markets dropped 10% in a matter of days—then rebounded after he backed off.”
While much of the attention has been on the US and its trade conflicts, Alex said the real risk for Australia comes from China, our biggest trading partner. “If China slows down or starts dumping cheap goods elsewhere, we could see deflation here,” he said. “That could mean lower interest rates and cheaper products, but it’s not without its dangers.”
Alex also warned about rising global tensions, particularly in Europe, which he believes is economically declining. “Countries like Poland are increasing military size, and gold is flowing out of Europe and into the US,” he said. “There are signs that people are nervous, and they’re preparing.”
Despite the chaos, Alex reminds us all to keep calm and continue to seek Biblical wisdom. “We’re reminded in Ecclesiastes 11:2 to invest in seven or eight ventures because we don’t know what disaster may come. That’s the Bible’s way of saying: diversify.”
Alex also urged Christians to be cautious with debt. “The average home loan is now $700,000,” he said. “Australians are among the most indebted households on Earth. Proverbs says, ‘The borrower becomes the slave of the lender’. We need to live differently.”
Practical Steps for Today
Alex’s provided us with some clear and practical advice:
- Diversify your investments
- Avoid overextending on debt
- Build up savings for both emergencies and opportunities
- Get good advice from either trusted friends or professionals
For younger people especially, Alex sees opportunities. “Don’t try to time the market. Just keep adding money into good-quality investments regularly. Volatility can work in your favour over the long run.”
“God owns it all,” Alex said. “We’re just stewards.”
Listen to Alex’s full interview below:
