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To fix or not to fix?

Deciding on what to do when it comes to your interest rate.
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WITH variable rates recently at 50-year lows and now starting to move upwards (beginning with a 0.25 per cent increase last week), the question many people are now asking is “should I fix my interest rate?”

As three-year fixed rates are already at an average of around 7 per cent and the discounted variable rates are around 5.3 per cent there is currently a valid argument that it’s now too late to fix. However this argument assumes you are using fixed rates to try and out-guess the market to get the cheapest rates, as opposed to a risk-management strategy.

The argument is that banks, which employ teams of economists and are supposed to know more than the average person, have already factored in what will happen with rates in the future. Meaning, that fixed rates already reflect the likely increase you will pay in the next few years.

What is often overlooked is the affordability of your loan should rates start to go much higher than anticipated. So for example, if your loan is $450,000 over a 30-year term and the rates went from 5.3 per cent to, say, 9 per cent (as they were only 12 months ago), the difference in principal and interest repayments would go from $2498 per month to a whopping $3620 per month.

It’s quite clear that when considering whether to fix, hedging for the cheapest rate must not be the sole consideration. You must factor in the maximum monthly repayment threshold that you can afford.

Of course, banks carry out affordability checks at the time of your loan application, however they generally use a buffer of around 1.5 per cent over the current variable rate. Because variable rates are currently so low, it is especially important to be aware of how high a rate you could tolerate before you would need to fix.

Rate calculators are freely available on sites such as www.mfaa.com.au. If you can afford a very high rate if rates went crazy, then you can afford the strategy of out-guessing the market described above, and for those who can afford the risk, it is fine to do. However if you can’t then you need to watch rates very carefully. A free interest rate comparison service is available at www.infochoice.com.au.

A common risk strategy is to “split” your loan, part-fixed and part-variable. Ask your broker to discuss these concepts for you. Either way it’s good practice to understand the risks you are taking, especially if you are a recent first home owner and not yet used to the impact of higher rates.

Read more from Virginia at www.modelmortgages.com.au

Your say: What do you think, should you fix your loan? Do you have any tips? Email us on [email protected]

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Stop work, drop dead!

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New research from the US has found that people who retire and stop working altogether are less healthy than their part-time working counterparts.

University of Maryland researchers found that serious diseases such as diabetes, cancer and heart disease were less prevalent in those who were still carrying out some kind of employment. Those workers also were healthier mentally and performed better day-to-day than those who gave up work altogether.

Twelve-thousand people aged between 51 and 61 were interviewed over a six-year period about finance, health, employment history and retirement.

The findings suggested that a form of “bridge employment”, part-time, self-employment or casual work, by older people in the same field as their pre-retirement career could improve mental health compared with retirees who stopped working all together.

However, those who took up work in an unrelated field to their previous career did not experience the improvement in their mental health. Researchers say this could be because taking a job in a different field could lead to stress caused by the new environment.

The study backed up the adage that people who gave up full-time work could die soon afterwards.

It also found that pensioners struggling with finance were more likely to take up work in a field unrelated to their previous career.

“Given the economic recession, we will probably see more people considering post-retirement employment,” study co-author Dr Mo Wang, told the Daily Telegraph.

This, according to the authors, would be a good thing for all concerned. The findings are reported in the Journal of Occupational Health Psychology, published by the American Psychological Association.

**Your say: When you retire, will you stop working altogether? What kind of work do you think would be good for retirees? Do you think this study will help older people when making decisions about retiring?

**

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Go fish, fight cancer

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Good news for guys, just in! Fish high in omega-3 fatty acids — such as salmon, tuna, mackerel and sardines — has been strongly linked to a decreased risk of developing prostate cancer.

The Harvard School of Public Health study, published in Clinical Cancer Research in the United States, examined the dietary habits of nearly 1000 men.

Those who ate five servings of fatty fish per week slashed their risk of developing prostate cancer by a staggering 63 percent. What is even more encouraging is that the finding was most noticeable among men who had a family history of the disease, which put them at greater risk to begin with.

Your say: Do you or your partner eat fish regularly? What are your favourite seafood recipes? Share with us below…

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Adam Harvey’s *Both Sides Now*

Adam Harvey

For seven-time Golden Guitar winner Adam Harvey, a duet with Idol winner Guy Sebastian might not seem like an obvious choice. But Adam Harvey has teamed up with the Idol alum and other famous Aussies (and one adopted Aussie in Leo Sayer) to put together a feel-good duet CD that is sure to be a family favourite this year.

Troy Cassar-Daley, Wendy Matthews, Kasey Chambers, Shannon Noll, David Campbell, Renee Geyer and Guy Sebastian are just some of the Aussie superstars who join Harvey on this album. With a guest list that strong, it’s easy to see why Adam Harvey is fast becoming a household name.

The great thing about a duets album is that no two songs sound alike. Adding to this is the range of songs Adam has chosen to cover — there is a song on the album for everyone.

Adam’s role on the Seven Network’s It Takes Two gave a new range of listeners the chance to enjoy the seven-time Golden Guitar winner’s abilities and also gave Adam an avenue to sing outside his usual genre.

His new album, Both Sides Now is essentially a country-flavoured album, with hints of pop, rock and some soul added in. The title track ‘Both Sides Now’ with the McClymonts is a soulful take on the Joni Mitchell original, and conjures up the romantic in all of us (remember that scene in Love Actually?).

Look out for ‘Stuck in the Middle’ with Guy Sebastian, a mix of two of Australia’s favourite voices that gel surprisingly well together.

Both Sides Now is out now.

Your say: Who is your favourite Australian artist? Have you bought yourself a copy of this album yet? Share your thoughts with us below.

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Cancer: the food connection

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Although the rates of cancers such as lung, colorectal, breast and prostate are on the increase around the world, the exciting findings of a scientific report titled Food, Nutrition, Physical Activity and the Prevention of Cancer: a global perspective bring hope that 30 to 40 percent of all cancers can be prevented simply by adopting a healthy lifestyle.

The research produced by the World Cancer Research Fund and American Institute for Cancer Research examines the link between diet and cancer. In general, dietary recommendations were only made where convincing evidence was found.

What should we eat?

What follows are dietary recommendations from the expert report that we consider to be most relevant to people who are two years of age or older.

  1. Focus on plant foods

Choose mainly a plant-based diet which is rich in fruits, vegetables, legumes and minimally processed starchy foods (such as rice, oats, potatoes, etc). Plant foods are important as they provide dietary fibre, vitamins and minerals. Many have also been found to be rich in phytochemicals (which may provide protection against some cancers).

  1. Maintain a healthy weight

Avoid being too skinny or too fat. Avoid gaining more than 5kg in adulthood.

  1. Keep physically active

If you have a sedentary job, include one hour of brisk walking each day and a total of one hour of vigorous exercise for the week.

  1. Eat more vegetables and fruits

Eat five or more serves of a variety of vegetables and fruits each day. One serve is approximately equivalent to half a cup of vegetables or one piece of fruit or equivalent.

  1. Eat a variety of other plant foods

Eat seven or more serves of a variety of grains, grain products, legumes, roots and tubers each day. Choose minimally processed foods in preference. Limit refined sugar consumption. Grains and legumes are good sources of plant protein, starch, as well as a range of nutrients and biologically active compounds which seem to provide protection against disease. They also contain dietary fibre. The report defines one serve of a grain product or legumes as approximately two thick slices of bread, two cups of breakfast cereal, half a cup of cooked rice, pasta or legumes or one small potato.

  1. Avoid alcohol

Alcohol consumption is not recommended. If consumed at all, men should drink less than two drinks per day and women should drink less than one drink per day.

  1. If eating meat, use small amounts

If eaten at all, red meat should be limited to less than 80g per day. It is preferable to choose fish or poultry and processed meat is best avoided to reduce risk of cancer.

  1. Use healthy cooking methods

Do not eat charred food. Fish or meats that have been grilled in direct flame, cured or smoked should be used only occasionally, if at all.

  1. Fats and oils in the diet

Limit fatty foods, particularly those of animal origin.

  1. Slow down on salt

Limit salty foods and use of cooking salt and table salt. Use herbs and spices to flavour foods. When purchasing processed food look for “no added salt” or “salt-reduced” options.

  1. Supplements aren’t necessary

Dietary supplements are probably unnecessary and unhelpful for the prevention of cancer in those who follow the above recommendations.

Your say: How many of these recommendations do you follow? How do you maintain a balanced diet? Share with us below…

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Keeping chocolate delicious

Apple pie

Question

How is chocolate best stored?

Answer

Chocolate should be stored in cool, dry conditions. If it becomes too warm, the cocoa butter rises to the surface and a whiteish-grey film or “bloom” develops.

The chocolate will still taste the same and, once melted, will usually return to its original colour. If chocolate has been refrigerated or frozen, bring it to room temperature before using.

Fancy some chocolate recipes? Visit our new site Food To Love

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Film review: *Mao’s Last Dancer*

Mao's Last Dancer

Houston Texas comes to Sydney for Bruce Beresford’s latest movie, Mao’s Last Dancer, the dramatisation of the autobiographical bestseller of the same title.

Mao’s Last Dancer is a stirring story of a young Chinese boy, Li Cunxin, who is plucked from poverty to attend ballet school in Beijing, and suddenly expected to perform an art he didn’t understand or had shown any previous interest in. Years later, his determination to succeed and his physique drives him and brings him to the attention of Ben Stevenson (Bruce Greenwood, Star Trek (2009), I, Robot) the artistic director of Houston’s ballet school, who brings Li to study in Houston, Texas.

Li falls in love with another dancer, Elizabeth (Amanda Schull, Centre Stage), and the freedom of dancing, and decides he wants to stay in the US.

This causes a political storm and he needs lawyer Charles Foster (Kyle MacLachlan) and a US federal judge (Jack Thompson) to rescue him. Soon, he is released and the movie takes us on his struggle to settle into a new land as an exile, far from his family. But it is also his time as a dancer.

This true and classic story of struggle and triumph against the odds and doubt keeps us interested in the characters and the dancing keeps us engrossed. The ballet sequences are stunning but we didn’t need every character nodding their heads and beaming to let us know.

Beresford’s directing is heavy-handed and overly dramatic, as is Jan Sardi’s script (Shine). A key scene between Li and Elizabeth seems more like daytime soap opera than real drama. And the depiction of the Chinese seems a little too simplistic and predictable. When the central government officials ask about his family’s dedication to the revolution, Li’s father boasts “We have always been peasants!” A ballet teacher who marvels at Rudolf Nureyev is mysteriously taken away. And doubt is thrown over the fate of his parents.

Only Bruce Greenwood uses his acting credentials, and Chi Cao who plays Li Cunxin is very competent. Interestingly, Chi learned to dance at the same school as Li, and went to London at just age 15 to dance with the Royal Ballet School. Joan Chen (The Last Emperor, Twin Peaks), who plays Li’s mother, was chosen by Mao Zedong’s wife to act after impressing her on the rifle range.

Small roles by Chen, MacLachlan, Jack Thompson, Wang Shaung Bao (the father) and Penne Hackforth-Jones only highlight there is more talent than Beresford or the script know what to do with.

The emotional ending will bring many tears to the eyes, and just when you think it’s dry enough to leave, it goes for another sentimental moment. It’s ideal for those who love a good tear-jerker and can marvel at the brilliant ballet on show.

If only the acting and directing was as good, it would be as successful as the book. It will still succeed, but will probably break tissue-box records, instead of box-office ones.

Your say: Have you seen Mao’s Last Dancer? Did you enjoy it? Share with us below…

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In 25 words-or-less I dumped my stingy fiancé

I’d been engaged to Owen for three long depressing years. Polite people called him ‘frugal’ but I just called him ‘stingy’. At first I thought it was funny how he pinched pennies and always took me out to the cheapest restaurants in town and when I say restaurants I mean the local Chinese or if I was really lucky the $5.00 Sunday roast at the RSL club.

I’ve never been stingy with my money and Owen’s behaviour really started to wear thin with me but he was good to me in others ways so I tried to ignore his reluctance to open his wallet wherever possible and usually just paid for things myself to keep the peace. The final straw came one night when we were out with friends and work colleagues at a beautiful seafood restaurant celebrating the engagement of our work-mate Sarah and her fiancé Nick. The happy couple had paid for trays of delicious nibblies and champagne for us to enjoy but due to the big turn-out we all agreed to pay for our own meals. Everyone was fine with that, we were just happy to be there- everyone that is, except Owen.

“$100.00 for a seafood platter for two, are you serious Anna? I am NOT paying $50 for my half of a seafood platter!”

“Shhhhhhh!” I said looking around. “It’s not that expensive Owen, this is a really good restaurant and how often do we lash out? C’mon don’t make a fuss, everyone else is happy to pay…” I pleaded in whispers. Everyone knew what Owen was like but just once I wanted to have a normal dinner with no dramas, just once! Was that too much to ask for?

Yes.

“I’m not paying that Anna and that’s final. If you want it so badly you can pay for it” hissed Owen as he pushed the laminated menu away abruptly.

I sighed and felt that familiar heaviness settle over me, the sadness and futility that I always felt when Owen behaved like this. Most men would pay not only for their own half but for their fiances, too. Not Owen. Never Owen.

Just as I was about to agree to pay for the whole thing as he knew I would, I noticed Owen had perked up considerably. To his right was Selina, the new receptionist at work who clearly got the position for skills and assets that weren’t listed on her resume. Selina was laughing at something Owen had said as he reached over her and topped up her glass of champagne. Always the gentlemen when someone else was footing the bill!

A hundred different occasions flashed through my mind where Owen had made me feel less than worthy by making me pay or go without or share a main meal with him! Worst of all was the time I had to invent a suitable birthday present to tell everyone about because he’d only bought me a $25 lottery pack with not even a birthday card to accompany it. I didn’t want my family and friends to hate Owen so it was easier to lie about things like that.

The only thing I did that Owen supported was entering competitions; 25 Words-or-less were my speciality. I had a bit of a knack for throwing together clever entries and had won some terrific little prizes over the last few years we’d been together. Owen supported this only because it cost me nothing to email an entry and often reaped dividends. The weekend in the Blue Mountains I won was valued at $500!

What I had failed to tell Owen before we’d come out tonight was that I’d won another prize today. I’d been informed that my entry had been chosen over thousands of others and that I was now the proud owner of a house valued at $475 000 on the Gold Coast!

I had planned on telling Owen tonight while we were in party mode but seeing my fiancé sit there flirting with another woman while I yet again planned on paying for our meal was finally too much. I took off the cheap thin engagement ring that I’m pretty sure he got from cash-converters and dropped it in his Champagne glass. As it dropped into the glass it made a faint plopping sound, surprising considering how light it was.

Owen heard the noise, looked at the ring in the glass and looked up at me with a puzzled expression on his face- “Where are you going?” he said impatiently “and why did you do that!?”

“Goodbye Owen, I hope Selina doesn’t mind forking-out for your lobster tonight because I sure as hell won’t be. I’ll send you a postcard from the Gold Coast. Oh, I forgot to tell you? Yes, I won a house worth half a million dollars in a competition! Can you believe that? That’d pay for a few seafood platters wouldn’t it Owen?” I said beaming.

And I turned on my heel and walked away from my stingy past.

Names have been changed. Picture posed by models.

Your say: Have your say about this true confession below…

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Oprah Winfrey scandals

Oprah has been accused of coming between TV psychologist Dr Phil McGraw and his wife Robin.

Oprah Winfrey started her television career in 1973 when she became the first black female news anchor at Nashville’s WLAC-TV.

In 1976 she moved to Baltimore’s WJZ-TV news, where she worked as co-anchor. A botched perm in the late seventies caused Oprah’s hair to fall out and she had to wear a wig during broadcasts.

After being criticised for showing too much emotion on air, and sometimes crying while reporting tragedies, Oprah moved into the daytime talk show arena and launched the Oprah Winfrey Show. Within a year she was topping the ratings and had obtained ownership and control of the program.

In 1989 Oprah slimmed down to 64kg on the Optifast Liquid diet. She dragged a 30kg slab of animal fat onto her show to celebrate the amount of weight she’d lost. But within a year she had regained the weight.

In a 1990 interview with sexual abuse victim Truddi Chase, Oprah admitted she had been sexually abused as a child by a number of her family members.

When she won the award for Best Talk Show Host at the Daytime Emmys in 1992, Oprah had reached her greatest weight ever — 107kg. The following year she lost 32kg after hiring a personal trainer and taking up running. Doctors believe that years of extreme yo-yo dieting have put a serious strain on Oprah’s health and may have lowered her life expectancy.

In 1993, Oprah signed a US$4 million contract to tell her life story through a biography. She withdrew the finished book at the last minute and it was never published.

In 1995 Oprah publicly admitted she’d used cocaine 20 years earlier. Two years later her ex-boyfriend Randolph Coot unsuccessfully sued her for allegedly blocking a tell-all book in which he revealed details of Oprah’s drug use.

Members of the US cattle farming industry took Oprah to court for libel in 1996 after she declared on her program that she would never eat another burger. The comment was made after she interviewed a vegetarian activist about Mad Cow disease — causing US beef prices to plummet the following day. After a two year court battle, Oprah won the case.

Oprah guest starred alongside Ellen Degeneres when she famously “came out” on her program in 1997. This sparked rumours about Oprah’s sexuality, particularly her relationship with her best friend Gayle King.

Oprah responded to the rumours by saying, “I understand why people think we’re gay. There isn’t a definition in our culture for this kind of bond between women. So I get why people have to label it — how can you be this close without it being sexual? People think I’d be so ashamed of being gay that I wouldn’t admit it? Oh, please.”

Despite the gay rumours, Oprah has maintained a 24 year relationship with Stedman Graham (pictured here in 1987), although the pair never married.

A number of Oprah’s friends and family members have sold her secrets to the press. In 1990 her half sister Patricia Lloyd revealed that Oprah had given birth to a son when she was 14 years old. The baby, who was born prematurely, died after only a few weeks. Oprah has since learned that her father Vernon Winfrey is planning to write a tell-all book about her.

Oprah dotes on her five dogs as if they were her children. Unlike some of the less-trustworthy members of her human family, she wants to provide for them after her death so she’s set aside a whopping $30 million trust fund for her pets.

Now single, Oprah has been romantically linked with TV medical guru Dr Mehmet Oz after the pair were caught in a compromising clinch recently.

Oprah was devastated when accusations of abuse emerged at the South African girls school she founded last year. The accused staff member has since been removed from the school.

After almost four decades working in the entertainment industry, Oprah has announced she’s ready to retire. But her TV career isn’t over. She recently launched her own television network called OWN.

Oprah recently revealed she had a secret half-sister, which she only discovered she had this year. Oprah made the announcement on one of her final 25th season shows where she interview her half-sister Patricia and her mother Vernita Lee.

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Breast cancer advice and survival stories

We’ve spoken with some inspirational breast cancer survivors about their journeys. Plus don’t miss ‘Five things every woman should know about breast cancer’ below.

Tanya Downes felt the lump, as she was playing on the floor with her two young kids one Sunday morning in December 2007. “I really thought it was nothing,” she says. “But I knew it should be checked, so I went to my doctor… still completely expecting to be told it’s nothing to worry about. Instead she said: ‘I don’t like the feel of this, I think it should be investigated further’.”

Tanya, now 38, her husband Shane, 37 and their children Zali, 4 and Brandon, 6 live in Charters Towers, Qld, where they own and run a diesel mechanic business.

Tanya went home from her doctor’s appointment and phoned the clinic in Townsville where she’d been referred to, to have a mammogram and biopsy. But they couldn’t fit her in for four weeks.

“Shane said straight away: ‘That’s not right!’ and we agreed I’d try to get into Mackay instead – that meant a two hour drive to Townsville, then a one hour plane flight. But the clinic there said they could see me much sooner… so off I went.”

Tanya had a mammogram and a biopsy – and the results were that she did have breast cancer and because of the size of the lump, a mastectomy was the only option. She then had four months of chemotherapy.

Today Tanya declares she’s ‘in the clear’. However she still has a mammogram every 12 months, and sees her oncologist and breast surgeon every six months.

“I’ve actually decided to have the other breast off too, and two new ones!” Tanya explains.

“Because I am younger and the cancer had spread to my lymph nodes, there was a real chance it would recur.

“My kids are so little … I just feel I’ve got to do absolutely everything I can to make sure I’m here with them – and of course Shane, forever.”

Tanya – now a keen fundraiser for the Breast Cancer Network Australia – can even see positives.

“We’ve always been a close family, but we’re even closer now,” she says. “I love life so fully and realise that bad experiences open your eyes to all the good stuff that’s always there – but that we’re usually just too ‘busy’ to see.”

Melbournian Lisa Sewards, 44, was diagnosed with breast cancer four years ago – the same week as her 40th birthday celebrations!

Within two weeks she had surgery – at first a lumpectomy; then due to the type of cancer it was, a mastectomy was required and she had her lymph nodes removed.

Surgery was followed by five months of chemotherapy, the removal of her ovaries, and radiotherapy.

Throughout her treatment, Lisa realised how hard it all was for her husband Michael and especially their children Harrison, now 11 and Isabella, 7 to cope with too.

“So Harrison and I kept a journal together, with notes about how we were both feeling throughout my journey,” she explains.

“And it’s now been published as a not-for-profit book called: ‘My Mum Has Breast Cancer’.” It’s available from some bookstores, or can be purchased online from Cancer Council Victoria at: www.cancervic.org.au

Today Lisa says she is “happy and healthy” and an active community fundraiser for women’s health.

She adds: “We live in a country where despite who you are or where you live amazing support is available through organisations such as Breast Cancer Network Australia.”


If you or someone you love has been diagnosed with breast cancer, contact Breast Cancer Network Australia for a free My Journey Kit, on: 1300 78 55 62, or go to: www.bcna.org.au


  • Kylie – in 2005, the Aussie pop star was diagnosed with early stage breast cancer; from which she’s recovered.

  • Anastacia – this American superstar found a lump in her breast in 2003. She was diagnosed in January, responded well to treatment and given the ‘all-clear’ that June.

  • Cynthia Nixon – best-known for her role in “Sex and the City,” quietly battled breast cancer in 2006.

  • Rove McManus – Rove’s first wife, actress and singer Belinda Emmett put up an incredibly strong eight-year battle. But sadly she passed away in November 2006.

  • Olivia Newton-John – Olivia successfully battled breast cancer in the ‘90s, and is now a passionate campaigner for awareness

  • Nicole Kidman – movie star Nicole’s beloved mum Janelle is also a breast cancer survivor.

1. Your breast cancer risk increases with age

Increasing age is one of the strongest risk factors for developing breast cancer. Breast cancer can occur in younger women, but about three out of four breast cancer cases occur in women aged 50 years and older.

To calculate your personal level of breast cancer risk, visit National Breast and Ovarian Cancer Centre’s risk calculator at www.nbocc.org.au/risk.

2. Most women diagnosed with breast cancer will not die of the disease

The good news is that more Australian women are now surviving breast cancer than ever before. Overall, 88 per cent of women diagnosed with breast cancer today will be alive five years after their diagnosis. Twenty years ago 71 per cent of women diagnosed with breast cancer could expect to live five years after their diagnosis.

Early detection is vital to surviving breast cancer. Research shows 98 per cent of women whose breast cancers are detected early (when they are less than 10mm in size) will be alive five years after their diagnosis. Don’t let the fear of possibly finding breast cancer stop you from taking control of early detection.

3. No matter how old you are, get to know the normal look and feel of your breasts

This is important even if you are having regular screening mammograms, as breast cancer can develop in between mammograms. There’s no right or wrong way to check your breasts, no special technique to use and no right time of the month to check. Just check your breasts wherever and whenever works for you.

Changes in the breast to look out for include:

• a new lump or lumpiness, especially if it’s only in one breast

• a change in the size or shape of the breast

• a change to the nipple, such as crusting, ulcer, redness or inversion

• a nipple discharge that occurs without squeezing

• a change in the skin of the breast, such as redness or dimpling

• an unusual pain that doesn’t go away.

4. Women aged over 50 years should have regular screening mammograms

Mammography screening is the best method of early detection available for women aged 50 years and over. International studies have shown mammography screening reduces deaths from breast cancer by approximately 25-30 per cent among women aged 50-69 years – the target age group for the BreastScreen Australia program.

To make an appointment for a free screening mammogram, call BreastScreen Australia on 13 20 50 for the cost of a local call anywhere in Australia.

5. If you are diagnosed with breast cancer, National Breast and Ovarian Cancer Centre is a great source of information

A breast cancer diagnosis can be a confronting and confusing time for a woman and her family. National Breast and Ovarian Cancer Centre provides a comprehensive range of resources free of charge to help women and their families through every stage of the cancer journey including:

• Guide for women with early breast cancer

• Cancer – how are you travelling?

To order printed resources visit www.nbocc.org.au/resources or phone 1800 624 973. For online information about breast cancer, visit www.nbocc.org.au.

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