Earning

100 People Tell Us How Much Money They Make...

Why is it that people don’t like sharing how much they make? Aren’t people interesting creatures!

Checkout a video below from CUT where 100 People Tell Them How Much Money They Make.

How much do you make?

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Mawer Money is a Social Enterprise assisting the world with Financial Empowerment.

www.mawermoney.com

NYE Reflections: The best way to achieve your goals in money (or anything else)

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Happy New Year!  This time of year is perfect for reflection on the year that has passed and to make goals for the coming year.

When making financial goals (or any goals in fact), they need to be S.M.A.R.T:

Specific

Measurable

Attainable

Relevant

Timely

E.g.

Specific: A clear goal in mind

Measurable: If you cant measure it, you can't improve it. Whether it be in dollars, percentages, kilos, you must be able to measure it

Attainable: Not unrealistic (e.g. I want to be the world's richest person tomorrow)

Relevant: This one is pretty obvious, but is has to be relevant to what you desire to achieve

Timely: You have to put a time frame on the goal. When you intend to start and when you intend to reach your goal

One final tip: You should also write these goals down and tell others about your goals. This will help to hold yourself accountable and increase the likelihood of reaching your goals.

What are your SMART goals for the coming year? Feel free to let me know in the comments below

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Click here to sign up to our Newsletter to receive the latest in Financial Empowerment and Personal Finance.

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Mawer Money is a Social Enterprise assisting the world with Financial Empowerment.

www.mawermoney.com

_____________________________________________________________

Income and Wealth of the average Australian: How do you compare?

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Our friends at the Australian Bureau of Statistics produce statistics on the distribution of wealth and income of Australians each two years. Really interesting data (wish it was released every year!).

People often ask me “how do I compare to others?” Below are the key wealth and income metrics of Australians for 2015-16.

1.     Gross Household Income in Australia 2015-16 (weekly)

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2.     Household Net Worth in Australia 2015-16

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3.     Households by Net Worth Range 2015-16:

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4.     Households by Net Worth Range 2015-16 (showing only up to $2 million as this encompasses 90% of the population):

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5.     Mean Worth by Age Australia 2015-16

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6.     Median Net Worth by Age Australia 2015-16 (interesting to note that the median is much lower than the mean – the exceptionally high wealth of some households brings the average/ mean up significantly):

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A few other interesting statistics that I found:

1.     33,700 households are worth 8 figures (more than $10 million)

2.     135,200 households are worth more than $5 million – this represents 1.5% of households

3.     1.2% of households have a net worth of less than zero

The above is for your information only. You are reading this because you want to be different to the average. You want to save more, invest wiser and achieve financial freedom earlier.

Want to review the numbers in more detail? You can find them on the ABS website:

http://www.abs.gov.au/AUSSTATS/abs@.nsf/DetailsPage/6523.02015-16?OpenDocument

How do you compare? Feel free to comment below.

You’re welcome.

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Click here to sign up to our Newsletter to receive the latest in Financial Empowerment and Personal Finance.

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Mawer Money is a Social Enterprise assisting the world with Financial Empowerment.

www.mawermoney.com

_____________________________________________________________