Category: Financial Wellness
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How happy are you: measuring happiness across countries and generations
Community & Engagement, Consumer Behavior, Financial Wellness, Lifestyle, Lifestyle & Well-being, Personal Finance, Spiritual Perspectives on WealthThe 2024 World Happiness Report ranks Finland as the happiest country for the seventh year in a row, while the USA drops out of the top 20 for the first time. Serbia and Bulgaria show the most significant improvements, climbing 69 and 63 places, respectively, since 2013. Rankings are based on people’s assessments of their…
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How having a flat tyre could send many Australians flat broke
Consumer Behavior, Credit and Loans, Diversification, Economic Insights, Financial Planning, Financial Wellness, Lifestyle, Lifestyle & Well-being, Personal FinanceThe Australian Bureau of Statistics reports that the national saving ratio has plummeted to a 17-year low of 1.1% of total disposable income. Nearly half of Australians have less than $1,000 in savings, with 20% having no savings at all. This financial instability is causing significant stress, with 76% of respondents feeling strained by their…
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Dozens of Australian businesses have gender pay gaps above 50%
Australia’s national gender pay gap stands at 12%, with men earning an average of $1982.80 weekly compared to $1744.80 for women. This disparity results in women earning 88 cents for every dollar earned by men, amounting to $12,376 less annually. The data, excluding overtime and junior or part-time employees, reveals significant state and industry variations.…
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Building better money habits with your kids
Financial Health, Financial Planning, Financial Wellness, Investment Strategies, Life Events, Lifestyle, Lifestyle & Well-being, Personal Finance, Retirement PlanningGenerally speaking, we Australians are pretty financially savvy, that is, we understand the how and why of effectively managing our money. Unfortunately, that doesn’t mean we put that know-how into practice to make astute financial decisions. According to the Australian Bureau of Statistics (ABS), the average Australian household debt has risen by 7.3% (over $260,000)…
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Navigating Retirement: Two Approaches to Financial Independence
Financial Planning, Financial Wellness, Life Events, Lifestyle, Lifestyle & Well-being, Retirement PlanningSteve and Sue Smith have worked hard all their lives, paid their taxes, and now that they have retired, they feel they are entitled to a full age pension. Jenny and John Jones have also worked hard and paid their taxes. However, concerned that Australia’s aging population and ballooning pension bill will make it increasingly…
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Navigating Financial Decisions with a Behavioral Finance Lens
Navigating Financial Decisions with a Behavioral Finance Lens In today’s complex geopolitical and economic climate, making sound financial decisions requires more than just an understanding of numbers; it involves recognizing and overcoming our inherent biases and emotions. Behavioral finance offers insights into how psychological factors can influence our financial choices, leading us to make decisions…
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