I am hearing a lot of advertising for SuperSuper ‒ a shopping rewards program that pays rewards directly to your super account with GuildSuper. It’s targeting women, enabling us to boost our super balances by doing nothing different ‒ we are shopping anyway! What are you thoughts on this?
I actually heard SuperSuper advertised on the radio, and my first thought was:
“Well, this sounds like the financial equivalent of a Spice Girls song.”
Girl Power! Yeah! We can shop and save for our super!
So I’ll tell you what I want, what I really, really want.
I want a super fund that doesn’t zig-a-zig-ah: GuildSuper has underperformed an average super fund over 1, 3, 5, 7, and 10 years, according to Superratings. I assume this is because their fees are a little, shall we say, Scary Spice. At 1.38% per annum plus $95 a year.
Bottom line? Any money you save from their slick shopping campaign, you’ll give back in higher fees and lower returns (and then some).
So, if you want to be my (super) lover, you’ve got to get with my plan.
By all means score rewards from shopping, but you don’t need GuildSuper to do it (though hats off to GuildSuper for making it super … simple).
All you need to do is Google “Woolworths discount cards” and you can get 5% off your shopping. (Tightarse tip: most retailers offer these discounts if you buy their gift cards or e-vouchers … because they bank on a certain percentage of people losing the cards or forgetting about them, and they’ll pocket the money.)
Then, take your savings and make a contribution into an ultra-low-cost index super fund.
Spice up your life!