Money & Banking

Placeholder Content Image

Death tax: Seniors may be asked to sell family home

<p><span>Baby Boomers may be asked to sell their family property when they die in order to pay for aged care costs they accrued while living under a new plan for an effect on death tax on seniors to fund their care.</span><br /><br /><span>Former Treasurer Peter Costello has urged the Morrison Government to consider an expanded pensioner loans scheme while at the Royal Commission into Aged Care.</span><br /><br /><span>This new proposal would give seniors the option to sell their family home when they die or have other assets liquidated.</span><br /><br /><span>Mr Costello has called for debate on expanding a pension loans scheme to use the family home as an asset.</span><br /><br /><span>Under this plan, the retiree’s home could be sold once they die to pay off any debts or costs.</span><br /><br /><span>“I mean, financial products that can allow people to raise accommodation bonds against the family home, which is generally their greatest asset, I think there’s a much more scope for them and I think the Government could assist there,” Mr Costello said.</span><br /><br /><span>“The Government has a thing called the Pension Loan Scheme which it says is available. The private sector has what is called a reversible mortgage or equity drawdown mortgages.</span><br /><br /><span>“But I do think, you know, this is a classic area where those people that do use residential care and do have assets should be asked to make a contribution and guaranteed a return of their deaths.”</span><br /><br /><span>However Mr Costello has stressed that informed consent was the key to the proposal.</span><br /><br /><span>He said that family members would have to understand the cost would ultimately come out of the estate.</span><br /><br /><span>“Even today, if you’re asked to put up an accommodation bond, you can raise that bond with your own house as security,” he said.</span><br /><br /><span>“I mean, the point I’d make is that I think people should do it knowingly and in advance and there should be products that allow them to do that during their lifetime. If you come around and try to take their assets after they’ve died, I think you can expect to run into a lot of opposition there.”</span><br /><br /><span>Mr Costello pushed debate on the option as an extension of reforms he introduced during the Howard Government.</span><br /><br /><span>“I felt you were never going to be able to run residential aged care with the ageing of the population off the taxpayer alone and you had to get private money and we introduced what we then called accommodation bonds,” Mr Costello said.</span><br /><br /><span>The longest-serving treasurer did admit that the red tape and forms around aged care were extremely complex - too complex for even him.</span><br /><br /><span>“Now, the members of my family I have attempted to fill in these income and assets tests. You all ought to do them,” he said.</span><br /><br /><span>“I’m reasonably financially literate. I had a lot of trouble filling it in. I don’t know how a person going into a nursing home would ever be able to fill it in.</span><br /><br /><span>“We’re talking about people who might be 80 or 90 years of age. How do they do this? My suspicion is that a lot of them just don’t.”</span><br /><br /><span>Former Treasury secretary Ken Henry told the inquiry he believes that a compulsory tax levy to fund aged care is necessary.</span><br /><br /><span>However he did echo the same concern and Costello had about the complexity of the system.</span><br /><br /><span>“My principal source of discomfort is that the system overall is horribly complex and it contains a very high level of uncertainty for people,” Dr Henry said.</span><br /><br /><span>“People who are elderly, people who are vulnerable, people who are suffering emotional and psychological stress, many, of course, unfortunately are mentally impaired to some extent, too many have little or inadequate family support and they confront the aged care system knowing nothing about it, knowing that they have no real option but to throw themselves into the system because it’s quite simply impossible for them to continue to look after themselves.</span><br /><br /><span>“And they’re bewildered. This system is unsustainable. It’s underfunded, it’s under resourced and it will not be tolerated. In particular, it will not be tolerated by the Baby Boomers themselves when they find themselves in this system.”</span></p>

Money & Banking

Placeholder Content Image

"They make you question yourself": Senior loses life savings in elaborate police scam

<p>Ann Miles had no idea what she would be getting herself into when she answered a call from what appeared to be the St George Bank fraud team.</p> <p>She was alarmed when the person told her over the phone that she had been scammed and although she was initially hesitant of their legitimacy, she ended up believing them after they gave her a number to call back on.</p> <p>“And the girl said to me 'St George bank fraud section can I help you?' It was how a business should operate,” she told A Current Affair.</p> <p>The scammer went on to convince Ms Miles that they needed her to play a role in an AFP operation that would catch a network of scam artists.</p> <p>"I love to help people, I'd do anything for anybody – and I thought, wow, to be able to help the AFP to bust up a scamming ring would be fantastic," Ms Miles explained.</p> <p>The scammer informed Ms Miles that she was involved in a highly confidential situation and that the details needed to remain top secret.</p> <p>Over the course of two weeks, he instructed her to attend St George branches and withdraw significant amounts of money from her account.</p> <p>The scammer then told Ms Miles that she had to drive to a bank and deposit the money into the account number they gave her.</p> <p>Each time, she was assured the deposits were catching thieves and con artists.</p> <p>All in all, Ms Miles was scammed out of $36,000 and she believed she was helping federal police the entire time.</p> <p>Ms Miles was devastated when she realised her mistake.</p> <p>“I just went to water, I just lost it then,” she said.</p> <p>Nick Savvides, Chief Technology Officer for APAC at Forcepoint told <em>A Current Affair</em>: "No bank is going to call you and ask you to be a part of a police sting.</p> <p>"They're not going to ask you to put your own money at stake, your own safety at stake and to help them catch a criminal."</p> <p>Mr Savvides says scammers have adapted their methods of scamming their victims, and one way is by encouraging people to take out their own money at atm’s and banks so no red flags are raised.</p> <p>"If you turn up to the bank and say I want $5000 of my own money and you have the right documents and identification verifications with you, they're going to give it to you,” he said.</p> <p>“It's your money after all."</p> <p>Mr Savvides has urged consumers to protect themselves by turning on two-factor authentication, signing up for SMS alerts, having a unique and complex password, hanging up on people who claim to be the bank and instead call them back on their website’s number or off the back of your card.</p> <p>"Don't call them from the details that are in that communications because the scammers controls those," Mr Savvides said.</p> <p>"Scammers understand human psychology. They know which buttons to push.</p> <p>"They create a sense of urgency and they make you question yourself, so you don't question them."</p>

Money & Banking

Placeholder Content Image

ALDI releases surprising comparison on cleaning buys

<p>ALDI has compared the prices of eight of its cleaning products to rival brands, with some surprising results.</p> <p>The supermarket giant featured its findings on the laundry, kitchen and bathroom buys in its latest catalogue.</p> <p>In it, the ad says shoppers will save over $40 - or 59 per cent - when purchasing similar products from ALDI.</p> <p><img style="width: 500px; height: 378.0918727915194px;" src="https://oversixtydev.blob.core.windows.net/media/7837873/screen-shot-2020-09-15-at-120243-pm.png" alt="" data-udi="umb://media/c299a2150e714d1882cfba8d2cfcd5d0" /></p> <p>The feature states the eight cleaning products will cost $27.52 at ALDI.</p> <p>Meanwhile, the same amount of items from “other supermarkets” will cost $67.70.</p> <p>The price comparison was conducted in late August.</p> <p>“[The comparison was] based on prices available from 10 stores in two major supermarket chains in the New South Wales, Victoria, Queensland, South Australia and Western Australia regions on August 26, 2020,” wrote ALDI in the fine print.</p> <p>“The cheapest competitive price has been used for ‘other supermarkets’.”</p> <p>Included in ALDI’s haul were three Di San laundry items, which has attracted a cult following in the last few years.</p> <p>ALDI also included the Force Bathroom Cleaner, Force Mould Away, Force Anti Ban disinfectant spray, Force Protect ’N’ Clean disinfectant and Trimat Advanced laundry liquid in the comparison.</p> <p>But the results had some cleaning aficionados divided.</p> <p>While some said ALDI products were great value for money, others said they preferred the more well-known brands.</p> <p>“I’ve never bought the ALDI products a second time,” said one on the <a rel="noopener" href="https://www.facebook.com/groups/mumswhoclean" target="_blank">Mums Who Clean</a> group.</p> <p>“They may be comparable but they aren’t as good. I haven’t tried the Glen 20 or disinfectant.”</p> <p>But another disagreed, saying: “I have used both branded and ALDI products. I have happily changed over to ALDI!</p> <p>“I don’t miss the branded ones at all and it’s better for my pocket!”</p>

Money & Banking

Placeholder Content Image

Coles VS Woolies VS ALDI: Who wins the supermarket price war?

<div class="post_body_wrapper"> <div class="post_body"> <div class="body_text "> <p>The pandemic has meant that people are looking for savings where they can, including their grocery shopping.</p> <p>One of the best places to save some extra cash is the supermarket, and consumer group <em>CHOICE</em> has confirmed whether Coles, Woolworths or ALDI offer the best prices with a survey of 152 products.</p> <p><em>CHOICE</em> found that ALDI was on average 20 per cent cheaper than Coles or Woolworths.</p> <p>“We were surprised that there was such a discrepancy,” says Margaret Rafferty, managing editor of CHOICE.</p> <p>“I think in some products you could save up to 50 per cent more by shopping at Aldi.”</p> <p>15 items were at least 35 per cent cheaper.</p> <p>ALDI was thrilled with the news.</p> <p>“From somebody as credible as CHOICE, it’s a great reassurance to us and our customers that we’ve got the best price,” said Andrian Christie, Aldi’s customer interactions director.</p> <p>ALDI also took out the most categories in <em>CHOICE's</em> home brand comparison last month, taking top spot for best tomato sauce and best tea.</p> <p>However, if you don't have an ALDI nearby, you can still save money at Coles or Woolworths.</p> <p>“There were a few (items) where Coles and Woolies were cheaper. It wasn’t universal,” Rafferty said.</p> <p>For example, sweet treat Clinkers cost $1.74 per 100g at ALDI but only $1.67 at Coles and Woolworths.</p> <p>The best advice to follow is to look at the cost per amount.</p> <p>“Just look at the unit pricing. Compare that and that will tell you if you’re getting the best price,” says Christie.</p> </div> </div> </div>

Money & Banking

Placeholder Content Image

"Fair" solution to ALDI Specials Buys problem

<div class="post_body_wrapper"> <div class="post_body"> <div class="body_text "> <p>The chaos of the weekly Special Buys deals by ALDI are well-known by frequent shoppers as they try and get their hands on a bargain.</p> <p>With reports of pushing and shoving in aisles as well as people buying special buys in bulk before others can get their hands on them, a mum was shocked to see a "fair" system implemented at her local store.</p> <p>She praised the solution to ALDI's biggest problem.</p> <p>“I was very impressed with ALDI Seven Hills this morning. I arrived at 7:50 am to find approximately 25 people in front of me,” the NSW woman wrote in the <a rel="noopener" href="https://www.facebook.com/groups/1034012533313136/permalink/3193450564035978" target="_blank" class="_e75a791d-denali-editor-page-rtflink">ALDI Mums Facebook group</a>.</p> <p>“At around 8:15 a staff member came out and went down the line (in order) asking who wanted the Air Fryer.</p> <p>“He took everyone’s names and told us to line up near the registers and they would be handed out.”</p> <p>She thanked her store, saying: “Normally it’s a sh*t fight trying to get the specials, but today it was very civilised.”</p> <p>Despite ALDI having a nationwide policy of not limiting or restricting its weekly deals with customers, stores "do reserve the right to limit purchases to one per customer when they anticipate unusually high demand".</p> <p>Others were impressed and called on ALDI to introduce the system everywhere.</p> <p>“That’s amazing! Hopefully the other stores follow suit!” one said.</p> <p>“That is a great idea, all stores should do that,” another agreed.</p> <p>“Wow that’s so much better! And also fair,” someone else chipped in.</p> <p>The coronavirus pandemic has also thrown some spanners in the works as many try to social distance and get their hands on Special Buys.</p> <p>“It just seems like this style of shopping as it is, isn’t helping people social distance,” one mum wrote on Facebook recently, to much support.</p> </div> </div> </div>

Money & Banking

Placeholder Content Image

Look out ALDI, Coles and Woolworths

<p>After locking in a massive new deal with British grocery giant Tesco, Australian discount retail specialists The Reject Shop are looking to grab a huge share of the market by offering up significant savings for shoppers – and the deal is timed perfectly to take advantage of the widespread effects that COVID-19 is having on household budgets across the country.</p> <p>The newly inked deal will deliver 300 of Tesco’s non-perishable grocery products to The Reject Shop stores across the country.</p> <p>The Reject Shop’s clear leverage here lies in the size of the bulk order, as it allows the chain to release a significant number of the 300 grocery items for significantly reduced prices compared to their ALDI, Coles and Woolworths counterparts.</p> <p>For example, items such as nappies will retail in bulk for under $10, and toothpaste will retail for as little as 50c – as will boxes of 100 bandages (also 50c).</p> <p>As Dani Aquilina, The Reject Shop's Chief Operations Officer, explained to <em>A Current Affair</em>: “What we do specifically that's different is we make sure we find the best-selling products, we buy them in big volumes so we can get the best prices and then we pass those savings onto our customers. It's everything from pantry staples – oil, vinegar, we've got things like rice pouches, snacks and treats – and then we've also brought in a great baby range so everything from formula to baby wipes and nappies.”</p> <p>“When Aldi came to Australia 15 years ago people said, ‘Why would you want to buy cheap food?’ and in 2009 when Kmart started its turnaround journey, they asked ‘Why would you want to offer cheap homewares and clothing, because people wouldn’t buy it,’” CEO Andre Reich said in a press briefing in late August.</p> <p>“But things have changed a lot. Australia is a very expensive place to live but we also want to have everything we need for a good life … so if you’ve only got a fixed income, you’ve got to find ways to save in certain areas.</p> <p>“It hasn’t been so cool or socially acceptable in Australia to shop down in a value store, but now people don’t worry as much where they shop as long as they save money.”</p> <p>The discount chain has also recently relaunched its website in a further bid to lure customers away from The Big Three of ALDI, Coles and Woolworths, and has commenced a $3billion expansion plan to add more stores.</p>

Money & Banking

Placeholder Content Image

Loophole in JobKeeper payments worries tax experts

<p><span>A large loophole has been found in the assessment process for the JobKeeper payment that tax experts worry could be exploited by hundreds of thousands of Aussies.</span><br /><br /><span>In order to receive the full $1,200 per fortnight in wage support, sole traders will need to show the Tax Office they were working more than 20 hours per week in the reference period.</span><br /><br /><span>However the reference period is between the two fortnightly pay periods prior to either March 1, 2020 or July 1, 2020 - whichever had the higher hours worked.</span><br /><br /><span>The activity test given to sole traders simply means they need to be "actively engaged in the business" for 20 hours a week to receive the full JobKeeper rate.</span><br /><br /><span>However Chartered Accountants tax lead Michael Croker told <a rel="noopener" href="https://www.abc.net.au/news/2020-09-08/jobkeeper-loophole-will-tempt-sole-traders-into-rorts/12638334" target="_blank"><em>ABC news</em></a> that "What you're pointing out is a tempting opportunity.” .</span><br /><br /><span>Chartered Accountants represents 120,000 number crunchers around the country.</span><br /><br /><span>The profession is already trying to raise the fact it will be difficult for small businesses and sole traders to rally up their hours of work each fortnight.</span><br /><br /><span>"The Treasurer announced that for sole traders that they needed to be 'actively engaged in the business' for 20 hours or more per week to get the higher rate," Mr Croker explained.</span><br /><br /><span>He noted that they would otherwise only be eligible for the part-time rate of $750.</span><br /><br /><span>"Now, you could be washing the dishes at night and thinking about your business at the same time — that's a very loose test."</span><br /><br /><span>Mr Crocker says many Australians across the nation will be tempted to rort the system, adding that the JobKeeper system requires a degree of honesty for those applying.</span><br /><br /><span>"What we expect to see is common sense prevail around this," he said. .</span><br /><br /><span>"I think to a degree we shouldn't make a mountain out of a molehill here.</span><br /><br /><span>"We're about the economy and jobs, not about compliance and regulation."</span><br /><br /><span>ATO has announced in a statement they have a JobKeeper integrity team whose sole purpose is to make sure JobKeeper is going to those who genuinely need it.</span><br /><br /><span>"We use a range of sophisticated data and behavioural models to identify applications which we will need to review before we make a payment," an ATO spokesperson said in a statement.</span><br /><br /><span>"We will also continue to review applications after payment cycles to identify any risks and issues which cause us concern."</span></p>

Money & Banking

Placeholder Content Image

Woolworths angers shoppers with controversial new policy

<p>Supermarket giant Woolworths has faced heavy criticism after one of it’s long-standing policies was met with change.</p> <p>Last week, the retailer put in place a new rule which bans customers from asking for a refund if the items they purchased were taken home.</p> <p>Previously, customers could receive full refunds on products if they had changed their mind - but that was up until September 1.</p> <p>Woolworths went on to say that until further notice it would “not provide a refund where you have simply changed your mind about products purchased from Woolworths”.</p> <p>“If you have purchased additional items, we encourage you to share those in need, in particular the elderly and most vulnerable,” an update to its policy read.</p> <p>The decision was met with hostility from customers, with one woman, who accidentally bought a 30-pack of Coke cans instead of a 24-pack, taking to Facebook to voice her concerns.</p> <p>After realising her error, she claims to have “went straight back in to be told ‘sorry’ they won’t do anything about it due to the ‘new policy’”.</p> <p>“So I have ended up paying extra $21.10 for six cans. I wasn’t impressed at all, when times are as tough as they are to be told about a change in policy,” she wrote.</p> <p>She later on revealed that she was offered a $20 voucher by the store manager.</p> <p>Some shoppers weren’t phased by the change, as the told people to “get over it”. </p> <p>“Bigger problems in the world! Good on you Woolies, stick to your guns! About time you had this in place,” one person wrote in a comment.</p> <p>Speaking to Yahoo News Australia, a spokesperson for Woolworths said customers are entitled for an exchange.</p> <p>“We have recently changed our refund policy and will no longer offer them for a change of mind,” they said in a statement.</p> <p>“We still offer our customers the option to exchange products when they’ve had a change of mind or made a mistake, and we know this flexibility is important to them. </p> <p>“This change brings us in line with broader supermarket industry practice on change of mind refunds. Of course, we’ll always refund or replace any products that are faulty.”</p>

Money & Banking

Placeholder Content Image

Exactly how much is each British royal actually worth?

<p>Whether you admire them for their established birthrights or myriad of leadership qualities, the esteemed British family is revered throughout countless nations.</p> <p>Royals seem to have it all – power, prestige and perhaps most importantly, money.</p> <p>From gargantuan oil supplies to significant charitable donations, the wealth of the British royal family is quite substantial.</p> <p>Surprisingly, most of the money used to fund the British monarchy doesn’t actually come from the taxpayer – members of the royal family are all wealthy on their own.</p> <p>With the combined sums of inheritances, crown estates and allowances, these royals are able to spare no expense when it comes to enjoying the better things in life.</p> <p>Although we can’t directly indulge ourselves in the abundant realm of high jewellery, impeccable art and acres of land that comprise their lifestyle, we can revel in their considerable net worths to a cup of herbal tea – with our pinkies raised in the air of course.</p> <p><strong>Meghan Markle’s Net Worth</strong></p> <p><strong>Net worth: $5 million</strong></p> <p>In the weeks before her wedding to Prince Harry, there was much speculation about whether the American actress was actually worth more than her then-fiancé. Spoiler: She’s not, though that wasn’t even close to the strangest conspiracy theory about Meghan and Harry. But she still had quite the net worth when she entered the Royal family at around $5 million, <em>Newsweek</em> reports.</p> <p>She reportedly made $50,000 per episode portraying Rachel Zane on the TV show <em>Suits</em>, which she starred in for seven seasons. In addition, she had roles in several other shows and movies, like <em>90210</em>, <em>Remember Me</em>, and <em>The Candidate</em>.</p> <p>Acting wasn’t her only source of income; the Duchess of Sussex also released two clothing lines through the Canadian retailer Reitmans, promoted sponsored content on Instagram and her lifestyle website, The Tig, and worked as a freelance calligrapher early in her career.</p> <p>Recently inked deals with Netflix may also have pushed this figure considerably northwards.</p> <p><strong>Kate Middleton’s Net Worth</strong></p> <p><strong>Net worth: $7-10 million</strong></p> <p>Middleton’s story has often been overplayed as a rags-to-riches ascent to royalty, but that’s actually far from the case; her family held substantial holdings with a collective net worth of $50 million.</p> <p>Most of this derives from an online party supply business called Party Pieces, which Breakthrough Branding has dubbed “the UK’s leading online and catalogue party company.”</p> <p>Prince Charles also covers her official staff and wardrobe expenses, and some of her travel costs are often funded by the countries she visits, which means she gets to keep most of her personal money in the bank – one of the many benefits of having a prince for a husband, we assume.</p> <p>Although her net worth has been reported to be between $7 million to $10 million in terms of savings, her national worth with clothing sales and tourism revenue is rumoured to be much higher.</p> <p>In any case, her combined wealth with husband Prince William is said to increase once Prince Charles ascends to the throne.</p> <p><strong>Prince Philip’s Net Worth</strong></p> <p><strong>Net worth: $30 million</strong></p> <p>Although he never took on the title of king due to strict monarchy regulations, royalty still pumps through his blood and his net worth is estimated at $30 million.</p> <p>Despite having retired from his Royal duties, Prince Philip still receives an annual Parliamentary annuity of £359,000 from the Sovereign Grant just for his royal title.</p> <p>According to a UK Government site, Prince Philip “still requires office support for non-public official duties.”</p> <p><strong>Prince William and Prince Harry’s Net Worth</strong></p> <p><strong>Net worth: $40 million each</strong></p> <p>According to <em>Town &amp; Country</em>, Prince William and his younger brother Prince Harry gathered most of their wealth on their 30th birthdays through an inheritance – about $13m in trust and estate from their late mother, Diana, Princess of Wales.</p> <p>At the age of 21, the two sons gained access to a lavish $450,000 per year investment profit. They also receive an “allowance” from the Duchy of Cornwall, which is managed by their father. This isn’t the typical allowance we remember from our parents, however; it was reported to be a total $4.6 million in 2015. This grand sum covers most of their staff, travel, and wardrobe expenses.</p> <p>Even before Harry stepped down from royal duties to make his own way, both princes were already cranking out their own paychecks as well.</p> <p>Prince William also works as a helicopter pilot for East Anglian Air Ambulance but donates his entire $62,000 annual salary to charity.</p> <p>Prince Harry earnt his own salary as an officer in the Army Air Corps until his departure from the service – as captain, he was said to earn an additional $45,000 a year.</p> <p><strong>Prince Charles’s Net Worth</strong></p> <p><strong>Net worth: $100 million</strong></p> <p>As the next in line to the English throne, Prince Charles reigns over the highest British royal family net worth after Queen Elizabeth: $100 million.</p> <p>According to CNN, a significant bulk of this stems also from the Duchy of Cornwall, a private estate that owns and operates land in rural and urban areas, as well as various islands and cottages in Wales and Cornwall.</p> <p>The Duchy of Cornwall was established in 1937 to ensure that the heir to the throne would have a steady income.</p> <p>Although he doesn’t actually own the colossal real estate portfolio, Prince Charles’s royal position enables him to receive income from it as the land’s sole beneficiary.</p> <p>In 2018, the estate paid Charles and Camilla $28 million. The couple also receives a portion of the Queen’s Sovereign Grant.</p> <p><strong>Queen Elizabeth II’s Net Worth</strong></p> <p><strong>Net worth: $550 million</strong></p> <p>Much of this handsome number derives from owning property holdings like the $140 million Balmoral Castle in the Scottish Highlands, the $65 million Sandringham House, stud and fruit farms, marine land throughout the UK, and one of the world’s largest stamp collections built by her grandfather.</p> <p>The estates she owns were inherited from her father, the late King George VI. The assets belonging to the Crown Estate are not included in her net worth, but she does get to enjoy them too as one of the many perks of being queen. This encompasses $10 billion worth of real estate, Buckingham Palace and the Royal Art collection.</p> <p>The Queen also receives an annual government stipend and because this wealth is tied to her position, she could never sell the royal assets.</p> <p>This stipend does include a bit of taxpayers’ money (the Sovereign Grant which paid her $105 million for the 2019-2020 year), combined with the Duchy of Lancaster, another collection of properties (separate from the Crown Estate) used to generate the Queen’s private income.</p> <p>According to <em>Newsweek</em>, this estate is estimated to generate around $26 million a year and is used to cover the costs the Sovereign Grant does not.</p> <p>And it doesn’t end there. The Queen also has private collections of valuable furniture and jewellery, which Forbes estimates at $110 million.</p> <p><strong>Prince George and Princess Charlotte’s Net Worth</strong></p> <p><strong>Net worth: $3.6 billion, $5 billion</strong></p> <p>Apparently, being a youngster in the royal monarchy comes with some pretty big bucks. Prince George is estimated at a net worth of $3 billion, but Princess Charlotte takes the cake from the entire family with a whopping $5 billion.</p> <p>The reason for Charlotte’s incredibly high value is in large part due to her fashion influence; taking off closely after her mother, the stylish tot has eyes on her style all over the nation.</p> <p>Deemed as the “Charlotte effect,” a yellow pastel patterned cardigan worn by the princess from a popular British department store sold out in 24 hours, according to Moneyish.</p> <p>Regardless, their substantial value doesn’t mean the royal children can go around flashing their Amex cards whenever they want. Since the royal children haven’t physically received inheritances (or worked a day in their life), their net worths are calculated by their value to the UK economy.</p> <p>Because they believe the children have the potential to drive billions in sales, their net worths have been determined as so.</p> <p><strong>Image:</strong> Getty Images</p> <p><em>Written by Hana Hong. This article first appeared on <a rel="noopener" href="https://www.readersdigest.com.au/culture/this-is-how-much-each-person-in-the-british-royal-family-is-actually-worth" target="_blank">Reader’s Digest</a>. For more of what you love from the world’s best-loved magazine, <a rel="noopener" href="http://readersdigest.com.au/subscribe" target="_blank">here’s our best subscription offer</a>.</em></p>

Money & Banking

Placeholder Content Image

Kmart's $49 weighted blanket is the sleep fix we need

<p>Weighted blankets are hugely popular for a sleep-deprived Australia as the "hug effect" it gives users is thought to lower the heart rate as well as increase serotonin and dopamine.</p> <p>These two chemicals can help people fall asleep quicker.</p> <p>For many though, the price point has kept a good night's sleep out of reach, with some weighted blankets costing $339.</p> <p>Kmart has changed all that with their newly released $49 weighted blanket that weighs 7kgs and is designed for adults who weigh between 65-85kgs.</p> <p><img style="width: 500px; height:281.25px;" src="https://oversixtydev.blob.core.windows.net/media/7837668/anko-kmart.jpg" alt="" data-udi="umb://media/6eb144ab6df5416697f426208dea74a5" /></p> <div class="post_body_wrapper"> <div class="post_body"> <div class="body_text "> <p>Despite the new addition only hitting shelves recently, a Kmart spokesperson told news.com.au the item was “in high demand, but there are still a few left”.</p> <p>Some people swear by the blankets, but scientists say that concrete evidence is "unfortunately lacking".</p> <p>“There are no reputable scientific studies to back up the claims, said Dr Cristina Cusin, an assistant professor of psychiatry at Harvard Medical School.</p> <p>“A randomised clinical trial to test the blankets would be very difficult. A blind comparison is impossible because people can automatically tell if the blanket is heavy or not.”</p> <p><em>Photo credit: </em><em><a rel="noopener" href="https://www.kmart.com.au/product/adult-weighted-blanket---charcoal/3160337" target="_blank" class="_e75a791d-denali-editor-page-rtflink">Kmart</a></em></p> </div> </div> </div>

Money & Banking

Placeholder Content Image

Quirky items that fetched millions at auction

<p>They say beauty is in the eye of the beholder, and that certainly rings true for people who have spent tonnes of cash on some really odd things. Here, we round up the weirdest, and a few of the coolest, things people have paid big money for. Have a look and see if you would have done the same!</p> <p><img style="width: 500px; height: 281.25px;" src="https://oversixtydev.blob.core.windows.net/media/7837652/01-art-basel-miami-usa-05-dec-2019-770.jpg" alt="A banana duct-taped to a wall" data-udi="umb://media/6062a14a239c4842b72dc1dec910f3f8" /></p> <ol> <li><strong> A banana duct-taped to a wall</strong></li> </ol> <p>It’s hard to say what is art anymore. One may think of the <em>Mona Lisa</em>, while another might value, say, a banana duct-taped to a wall. We’re not being cute. That is literally what someone bought at the Art Basel art fair in Miami recently.</p> <p>Italian artist Maurizio Cattelan’s controversial piece, titled <em>Comedian</em>, sold for a whopping $120,000. The point of the piece, said the gallerist who sold the pricey fruit, was to question what “art” is. Looks like someone found the piece rather a-peeling, after all.</p> <p><img style="width: 500px; height: 281.25px;" src="https://oversixtydev.blob.core.windows.net/media/7837651/02-violin-played-as-titanic-sank-sells-for-900000-wiltshire-britain-20-oct-2013-770.jpg" alt="The last violin played on the Titanic" data-udi="umb://media/5b3a386ddaa14a29804c079b3c90a397" /></p> <ol start="2"> <li><strong> The last violin played on the <em>Titanic</em></strong></li> </ol> <p>One of the most memorable tales from the tragic sinking of the Titanic is the eight-piece band that played until the end. Led by English musician Wallace Hartley, the band played their instruments as the ship sank into the frozen waters of the Atlantic Ocean in an effort to help soothe scared passengers.</p> <p>According to CNN, “Hartley’s body was reportedly pulled from the water days after the April 1912 sinking with his violin case still strapped to his back.”</p> <p>More than a century later, in 2013, Hartley’s damaged violin was sold at an auction for $1.7 million in less than 10 minutes. It is the most expensive artefact linked to the doomed ship.</p> <p><img style="width: 500px; height: 281.25px;" src="https://oversixtydev.blob.core.windows.net/media/7837653/04-john-lennon-shutterstock-524008o-e1578497425466-770.jpg" alt="John Lennon’s toilet" data-udi="umb://media/2cdaff7d7bfa4c66bf34c5341a391711" /></p> <ol start="3"> <li><strong> John Lennon’s toilet</strong></li> </ol> <p>Imagine all the ways you can spend your money…and then think about this. One Beatles fan spent nearly $15,000 on a flowered porcelain toilet once owned by John Lennon.</p> <p>The luxe loo came from an English estate owned by Lennon and Yoko Ono. When Lennon had the toilet replaced, he told the builders “to put some flowers in it or something,” according to the auction catalogue.</p> <p>The estate, Tittenhurst Park, was where Lennon recorded his legendary <em>Imagine</em> album and film. Hopefully, the toilet was as inspiring to its new owner!</p> <p><img style="width: 500px; height: 281.25px;" src="https://oversixtydev.blob.core.windows.net/media/7837654/05-queen-victorias-undies-7039790b-770.jpg" alt="Queen Victoria’s undies" data-udi="umb://media/a3bba379744946149c046f6fb712e919" /></p> <ol start="4"> <li><strong> Queen Victoria’s undies</strong></li> </ol> <p>And speaking of bathroom inspiration, cotton knickers owned by Queen Victoria (Queen Elizabeth’s great-great-grandmother) sold in 2015 for $16,300.</p> <p>Embroidered with her royal initials, “VR” for Victoria Regina, the undies were in pristine shape, having been wrapped in tissue and kept in a temperature-controlled room.</p> <p>There was something unique about these roomy drawers, which boasted a 114cm drawstring waist.</p> <p>“On these particular knickers, there is a chevron section, which is where they were taken up slightly as Queen Victoria got older and essentially she shrunk in stature,” auctioneer Richard Edmonds told People.com.</p> <p>“That element got the collectors really excited, because you can then date them quite specifically to the last 10 years of her life.”</p> <p><img style="width: 500px; height: 281.25px;" src="https://oversixtydev.blob.core.windows.net/media/7837655/06-elvis-presleys-hair-music-icons-auction-by-juliens-los-angeles-america-22-jun-2012-770.jpg" alt="A lock of Elvis Presley’s hair" data-udi="umb://media/e50824ffb48c4fb6af997aa80226b918" /></p> <ol start="5"> <li><strong> A lock of Elvis Presley’s hair</strong></li> </ol> <p>A hunka, chunka hair from the King of Rock and Roll, Elvis Presley, sold for $115,000 to an eager fan back in 2002.</p> <p>Saved from his barber, who also used to dye his sandy-blonde hair jet black, the trimmings had been kept in a plastic bag since the singer’s death in 1977, until they were sold for a king’s ransom.</p> <p>Other big-ticket Elvis items that sold at auction include his 24-carat gold-leaf grand piano; his peacock jumpsuit; and one of his very first recordings of a song called “My Happiness,” which was bought by White Stripes musician Jack White.</p> <p><img style="width: 500px; height: 281.25px;" src="https://oversixtydev.blob.core.windows.net/media/7837656/07-white-dress-worn-by-marilyn-monroe-in-film-the-seven-year-itch-sells-for-4-6million-los-angeles-america-jun-2011-770.jpg" alt="Marilyn Monroe’s white dress" data-udi="umb://media/501546eb4f3c468a94cb5d294bfe098e" /></p> <ol start="6"> <li><strong> Marilyn Monroe’s white dress</strong></li> </ol> <p>It was the dress that launched a thousand gasps. Marilyn Monroe’s iconic white halter dress, which she wore in <em>The Seven Year Itch</em>, sold in 2011 for a whopping $4.6 million.</p> <p>The dress – which was famously blown up while she stood over a subway grate – made Monroe a certified sex symbol. It also made actress Debbie Reynolds some major bucks when she sold it.</p> <p>Reynolds, the iconic star of <em>Singing in the Rain</em> (and also Carrie Fisher’s mum), was a huge collector of vintage Hollywood gowns, and Marilyn’s made her a pretty penny.</p> <p><img style="width: 500px; height: 281.25px;" src="https://oversixtydev.blob.core.windows.net/media/7837657/08-songwriters-hall-of-fame-annual-induction-and-awards-gala-arrivals-marriott-marquis-hotel-new-york-usa-13-jun-2019-770.jpg" alt="Justin Timberlake’s leftover French toast" data-udi="umb://media/44029608333c496b9ac50a08bcd82f73" /></p> <ol start="7"> <li><strong> Justin Timberlake’s leftover French toast</strong></li> </ol> <p>Twenty years ago, a young band member from NSYNC, Justin Timberlake, was interviewed by the Z100 morning show in New York City when he left some of his uneaten French toast behind. The station’s DJ jokingly put two slices of it for sale on eBay, where it was sold to a teenage girl named Kathy Summers for $1,025.</p> <p>When asked what she would do with the leftover and slightly burned toast, the teen fan said, “I’ll probably freeze-dry it, then seal it…then put it on my dresser.”</p> <p>Mmmm… a wise investment, indeed.</p> <p><img style="width: 500px; height: 281.25px;" src="https://oversixtydev.blob.core.windows.net/media/7837658/09-damien-hirst-exhibition-tate-modern-london-britain-02-apr-2012-770.jpg" alt="A dead shark in formaldehyde" data-udi="umb://media/92f6a7d11ab04a1691ee03df6da5a728" /></p> <ol start="8"> <li><strong> A dead shark in formaldehyde</strong></li> </ol> <p>Weird art always seems to sell well and big. (See item one on this list.) But a piece by British contemporary artist Damien Hirst really takes the shark.</p> <p>Hirst is known for his obsession with death, seen in his high-priced and macabre styles of art. In 2004, he sold a tiger shark preserved in formaldehyde, titled <em>The Physical Impossibility of Death in the Mind of Someone Living</em>, for a reported $8 million.</p> <p>The 22-tonne shark, which is obviously dead but kept scarily preserved, embodies life, death and just what its title aptly describes.</p> <p> <img style="width: 500px; height:281.25px;" src="https://oversixtydev.blob.core.windows.net/media/7837662/01-albert-einstein-gettyimages-544750041-o60.jpg" alt="Albert Einstein’s theory on happiness" data-udi="umb://media/b55dbd43f1d4478fb402c48e324e1077" /></p> <ol start="9"> <li><strong> Albert Einstein’s theory on happiness</strong></li> </ol> <p>A Japanese bellboy received the tip of a lifetime when he made a delivery to physicist Albert Einstein in 1922.</p> <p>Einstein was in Tokyo on a book tour when he found out he’d won the Nobel Prize. Overwhelmed by the honour and attention, Einstein put some of his thoughts to paper, which he gave the bellboy when he couldn’t find change for a tip.</p> <p>“A calm and modest life brings more happiness than the pursuit of success combined with constant restlessness,” Einstein wrote in German on a piece of hotel stationery, according to the <em>New York Times</em>.</p> <p>On the second paper, he wrote, “Where there’s a will, there’s a way.”</p> <p>The two papers, his take on happiness, sold at a 2017 auction in Israel for $1.56 million and $250,000, respectively.</p> <p><img style="width: 500px; height: 281.25px;" src="https://oversixtydev.blob.core.windows.net/media/7837659/11-auction-jeff-koons-new-york-usa-03-may-2019-770.jpg" alt="A giant steel rabbit" data-udi="umb://media/7d20e9bfc8a74e468e1fe1ddff23e3fc" /></p> <ol start="10"> <li><strong> A giant steel rabbit</strong></li> </ol> <p>And we’re back with some really expensive art. A 90cm stainless steel rabbit created by the artist Jeff Koons in 1986 sold at auction in 2019 for the breathtaking price of $91 million.</p> <p>It went to Robert E. Mnuchin, an art dealer and the father of US Treasury Secretary Steven Mnuchin, and it set the world-record price for a work by a living artist.</p> <p>The rabbit is considered one of the most iconic works of art of the 20th century, and a blow-up version of it appeared in the Macy’s Day parade in 2007.</p> <p>The work has influenced generations of artists, even the aforementioned Damien Hirst. And on a funny side note, when Koons was deciding on what animal to sculpt a likeness of, he almost chose a pig. It seems like the bunny paid off.</p> <p><img style="width: 500px; height: 281.25px;" src="https://oversixtydev.blob.core.windows.net/media/7837660/12-truman-capote-shutterstock-6651421a-770.jpg" alt="Truman Capote’s ashes" data-udi="umb://media/ea15b52150ef4978b69cc65f0e3e97af" /></p> <ol start="9"> <li><strong> Truman Capote’s ashes</strong></li> </ol> <p>The author of <em>Breakfast at Tiffany’s</em> and <em>In Cold Blood</em> certainly did love an adventure, and so maybe it’s not that big of a surprise that his ashes continue to have a life of their own.</p> <p>Housed in a Japanese wooden box, the writer’s remains belonged to Capote’s longtime friend Joanne Carson – ex-wife of the famed late-night talk-show host Johnny Carson – until her death in 2015. (Capote died in 1984.)</p> <p>The ashes have had quite a ride, having been stolen once before and luckily returned, until they were finally sold for $45,000 in 2016, to an anonymous buyer who promised: “that Truman will continue his adventures.”</p> <p><img style="width: 500px; height: 281.25px;" src="https://oversixtydev.blob.core.windows.net/media/7837661/13-leonardo-s-exhibit-new-york-usa-770.jpg" alt="Leonardo da Vinci’s Codex Leicester" data-udi="umb://media/a999ec5f51ae449d9028a43ffcd4c3fa" /></p> <ol start="10"> <li><strong> Leonardo da Vinci’s Codex Leicester</strong></li> </ol> <p>While most people associate Leonardo da Vinci with his paintings, like <em>The Mona Lisa</em> and <em>The Last Supper</em>, da Vinci was also a scientist and engineer whose notes about inventions and thoughts on the planet (its origin and end) were captured in a journal titled the “Codex Leicester.”</p> <p>In 1994, Bill Gates purchased the journal for $30.8 million at auction, a price that made it one of the most expensive books ever sold.</p> <p>Da Vinci’s ideas and musings in the Codex are written in his famous mirrored cursive writing, and it’s currently on loan to museums and schools across the United States.</p> <p><strong>Images:</strong> Shutterstock / Getty Images</p> <p><em>Written by Robyn Moreno. This article first appeared on <a rel="noopener" href="https://www.readersdigest.com.au/culture/13-quirkiest-items-that-sold-for-millions-at-auctions" target="_blank">Reader’s Digest</a>. For more of what you love from the world’s best-loved magazine, <a rel="noopener" href="http://readersdigest.com.au/subscribe" target="_blank">here’s our best subscription.</a></em></p>

Money & Banking

Placeholder Content Image

Woolies tackles lockdown coffee spike with free coffee machines

<p>With more people working from home due to the coronavirus pandemic, supermarkets across Australia have reported a big spike in coffee sales.</p> <p>In Aldi, sales of its coffee brand Lazzio spiked <a rel="noopener" href="https://www.news.com.au/lifestyle/food/eat/aldi-coffee-lazzio-sees-50-per-cent-sales-spike-during-coronavirus-panic-buying/news-story/b9c51d90a3d8dbab39ab5919b80a90df" target="_blank">by more than 50 per cent </a>during a seven week period across March and April.</p> <p>Coles also revealed sales of coffee pods <a rel="noopener" href="https://www.news.com.au/lifestyle/food/coronavirus-shopping-hair-dye-sales-soar-while-mints-gum-drop/news-story/6f1e36f049b97c99d3e1e38cb0dc9230" target="_blank">had skyrocketed during isolation.</a></p> <p>Rolando Schirato, Managing Director for Vittoria Coffee, told news.com.au in May it had experienced a drop in takeaway coffee sales but a spike in the use of home-based products such as pods.</p> <p>Now Woolworths is giving customers the chance to feed the at-home coffee frenzy, by giving away $99 coffee machines to customers who buy coffee capsules.</p> <p>Until September 1, customers can get a Lavazza Jolie Coffee Machine for free when they purchase six packets of 16 Lavazza capsules for $11 a pop.</p> <p>It means shoppers can spend $33 less than what they would usually have to fork out for the kitchen appliance and have a supply of coffee to boot.</p> <p>Woolies shoppers took to the Markdown Addicts Australia Facebook account to reveal they had already taken advantage of the deal, encouraging others to do the same.</p> <p>One person said it was great timing as “our coffee machine just died”, while another said they had the machine already and recommended it.</p> <p>“I honestly love mine so easy to use and easy to keep clean,” the wrote.</p> <p>Another shopper said the machine was “great” but it paid to stock up on the capsules when they were on special.</p> <p>“I have this machine and love the coffee. Lavazza is great! I only buy the pods on special usually either $7 or $8 box. I just buy enough for four to five weeks. At full price they are a bit pricey,” they wrote.</p> <p>The offer is available while stocks last until next Tuesday in selected Woolies stores across the country.</p> <p><strong>Images:</strong> Woolworths / Facebook</p>

Money & Banking

Placeholder Content Image

Karen for hire! Company looking to hire the ultimate “Karen” to review products

<p><span>A new job listing on an American site is asking for the perfect Karen to review products online for a whopping $65/hour. Read more:</span><br /><br /><span>A job listing by US site DehumidifierCritic.com is copping criticism for seeking someone “hypercritical and opinionated” to write three product reviews per week, while answering and maintaining a “Call-a-Karen” service.</span><br /><br /><span>The job listing says that “the right ‘Karen’ will start off with a three-month contract with the intention to extend if the service becomes popular.</span><br /><br /><span>“We are recruiting a woman to write three (honest) reviews a week for our website, as well as be the voice and authority behind our Call-A-Karen service, which will see potential customers call for advice and recommendations on (dehumidifier) products,” the listing reads.</span><br /><br /><span>The name “Karen” has been used in the past to describe an “angry, entitled” white woman of privilege who will often want to ”speak to the manager” to complain about the tiniest inconveniences.</span><br /><br /><span>“Being a ‘Karen’ in 2020 probably means you’re going to have a hard time, but I wonder how many people stop and think about the potential benefits of being or knowing a ‘Karen’”, said Oliver Perryman, founder of DehumidifierCritic.com.</span><br /><br /><span>“We want to utilise a ‘Karen’s’ best assets and use it to ensure that we are not only providing the best experience onsite, but also helping members of the public to find the best product for them.”</span><br /><br /><span>The company is offering a remote position, with the potential Karen working with a company phone and “flexible hours”.</span><br /><br /><span>The site states that any applicants need to be over the age of 21, must speak English and have a professional phone manner for the Call-a-Karen service.</span><br /><br /><span>Applications close on Monday, August 31.</span></p>

Money & Banking

Placeholder Content Image

Luxury jewellery company designs $2 million face mask

<p>Face masks are quickly becoming an essential part of people's daily uniforms when they step outside, with some choosing to have a more luxurious face mask to protect them from coronavirus.</p> <p>Luxury Israeli jewellery brand Yvel has created a custom-made white gold 18-karat face mask with more than 3,600 white and black diamonds.</p> <p>The mask doesn't come cheap, with the white gold and diamond-encrusted face mask having a whopping price tag of $USD 1.5 million ($AUD 2.09 million).</p> <p>The buyer of the mask requested to remain anonymous but urged the jewellery brand to complete the mask by the end of the year.</p> <p>The mask will weigh 270g and is being fitted with N99 filters at the request of the client.</p> <p>“Money maybe doesn’t buy everything, but if it can buy a very expensive COVID-19 mask and the guy wants to wear it and walk around and get the attention, he should be happy with that,” the designer of the mask Isaac Levy explained.</p> <p><img style="width: 0px; height:0px;" src="https://oversixtydev.blob.core.windows.net/media/7837341/facemask-jewelerry-1.jpg" alt="" data-udi="umb://media/38e6dcfb24724539bef19df7452b2230" /></p> <div class="body_text "> <p>While Levy said he would not wear the mask himself, he is grateful his company was given the opportunity to create it.</p> <p>“I am happy that this mask gave us enough work for our employees to be able to provide their jobs in very challenging times like these times right now,” he said.</p> <p>The request for the expensive mask came from a businessman in America, and will "not be delayed" for its due date of 31st of December.</p> <p>“In these tumultuous days, every order we receive helps to preserve the company’s day-to-day operations on the one hand, and brings foreign currency into a country that needs all the help from us industrialists on the other,” Levy added.</p> <p><em>Photo credits: </em><em><a rel="noopener" href="https://www.gq.com.au/style/news/this-jewelery-company-has-designed-a-2-million-face-mask/image-gallery/c73646fbf49811739d9e89473c0fe2a0" target="_blank" class="_e75a791d-denali-editor-page-rtflink">GQ</a></em></p> </div>

Money & Banking

Placeholder Content Image

How a Brisbane nurse made $350k in 3 months on the side

<p>A young nurse from Brisbane was determined to rid the ocean of plastic waste and has made upwards of 350,000 selling hammocks made from recycled bottles.</p> <p>As Tegan Gilroy, 28, scuba dived around the world, she was horrified by the amount of plastic waste in the ocean and launched Nakie in September 2019.</p> <p>Nakie is an online range of campaign equipment 'upcycled' from landfill.</p> <blockquote style="background: #FFF; border: 0; border-radius: 3px; box-shadow: 0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width: 540px; min-width: 326px; padding: 0; width: calc(100% - 2px);" class="instagram-media" data-instgrm-captioned="" data-instgrm-permalink="https://www.instagram.com/p/CDVKdS2FFvq/?utm_source=ig_embed&amp;utm_campaign=loading" data-instgrm-version="12"> <div style="padding: 16px;"> <div style="display: flex; flex-direction: row; align-items: center;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 40px; margin-right: 14px; width: 40px;"></div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 100px;"></div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 60px;"></div> </div> </div> <div style="padding: 19% 0;"></div> <div style="display: block; height: 50px; margin: 0 auto 12px; width: 50px;"></div> <div style="padding-top: 8px;"> <div style="color: #3897f0; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: 550; line-height: 18px;">View this post on Instagram</div> </div> <p style="margin: 8px 0 0 0; padding: 0 4px;"><a style="color: #000; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: normal; line-height: 17px; text-decoration: none; word-wrap: break-word;" rel="noopener" href="https://www.instagram.com/p/CDVKdS2FFvq/?utm_source=ig_embed&amp;utm_campaign=loading" target="_blank">A couple of trees and a few mates is all you need. ⁠ ⁠ This month we are planting one tree for every new follow!⁠ ⁠ Help us plant 250,000 trees!⁠</a></p> <p style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; line-height: 17px; margin-bottom: 0; margin-top: 8px; overflow: hidden; padding: 8px 0 7px; text-align: center; text-overflow: ellipsis; white-space: nowrap;">A post shared by <a style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: normal; line-height: 17px;" rel="noopener" href="https://www.instagram.com/nakieco/?utm_source=ig_embed&amp;utm_campaign=loading" target="_blank"> Nakie</a> (@nakieco) on Jul 31, 2020 at 7:55pm PDT</p> </div> </blockquote> <div class="post_body_wrapper"> <div class="post_body"> <div class="body_text "> <p>She still works 12-hour shifts at a hospital in Brisbane three days a week, which she says leaves "plenty of time" to run her website on the side.</p> <p>Each $129 hammock is made from 37 plastic containers recovered from landfill, an approach Ms Gilroy claims have "saved 118,992 bottles going into our waterways".</p> <p>"As someone who loves the ocean I hate seeing how much plastic is tumbling along the ocean floor and washing up along our beaches," she told <em>Daily Mail Australia.</em> </p> <p>She also plants four trees for every item purchased in a partnership with Eden Reforestation Projects, which has planted over 350 million saplings to date.</p> <p>The best selling style from Nakie is a two-person hammock with built-in straps, with customers raving about the quality and affordability of the hammocks. </p> <p>"Every one of my friends and family who have napped, relaxed or read in the Nakie absolutely loved it," a happy customer raved.</p> <p>"Super easy to put up and take down and packable, which I love! Love this company."</p> <p>Another said: "It's a great hammock and a killer deal. Higher weight limit than similar brands and about half the price if you were to piece together the hammock, straps, bug net and rain tarp."</p> <p><em>Photo credits:<span> </span><a rel="noopener" href="https://www.msn.com/en-au/lifestyle/smart-living/nurse-28-makes-350k-in-three-months-selling-recycled-hammocks/ar-BB17K93s?li=AAFzCDU#image=3" target="_blank">Daily Mail Australia</a></em></p> </div> </div> </div>

Money & Banking

Placeholder Content Image

Paul Keating rips into "greedy" Baby Boomers

<div class="post_body_wrapper"> <div class="post_body"> <div class="body_text "> <p>Former Prime Minister Paul Keating has decimated the greed of Baby Boomers, saying that his own generation would never ut up with the low wages, HECS debts and calls to raid their own super accounts for money in the current COVID-19 economy.</p> <p>He has warned that low income younger workers have been asked to raid their own super accounts to the tune of $40 billion, which is around the same amount that the Morrison Government has spent to date on massive stimulus measures such as JobKeeper.</p> <p>He made the statements in a briefing today organised by Industry Super that the legislated pay rise has already been factored into wage negotiations and must not be scrapped.</p> <p>“You cannot have a decent income in retirement without self provision. Otherwise, you would have people on the pension which is now what $23,000 or $540 a week?,’’ he said.</p> <p>“Take my generation, the Baby Boomers. They want everything yesterday and they want it doubled now. If there was no super they wouldn’t be wanting $23,000 they would be wanting $50,000 now.</p> <p>“You look at these young people, I mean a lot of them are on low wages, they carry the HECS charge around their neck before they start, they have trouble accommodating themselves</p> <p>“We are saying, ‘Oh, by the way you can look after the rest of us aged people.’ It’s just fanciful nonsense.”</p> <p>Mr Keating said that if workers failed to save enough super, more will be forced to survive off the aged pension.</p> <p>“Well. The thing is there’s no economic case for it not to go ahead. None. There’s a prejudicial case from some of these baby-faced Liberals,’’ he said.</p> <p>“These first term senators, a particular modest form of political life.”</p> <p>“Look, the thing is this. Anyone born in the 1970s, and I’ve got children born in the 1970s, will live now until 105 or 110,’’ he said.</p> <p>“In other words if they save for 40 years from say 25 to 65, they will be relying on the savings for a further 40 years. This cannot happen with a pool of funds of 9.5 per cent it’s not large enough to do that.</p> <p>“The argument for 12 is a very basic argument for adequacy. If we’ve got people living longer, what case is there possibly to not have 12 per cent?”</p> <p>Mr Keating said he took the Prime Minister at his word that he was "no plans" to scrap the super increase, but warned the Liberal Party has never supported super.</p> <p>“The Liberal Party has never liked mandatory superannuation. They’ve had to be dragged screaming,’’ he said.</p> <p>Former Labor frontbencher and ACTU secretary Greg Combet said the business of allowing workers to raid their super accounts of nearly $40 billion has been a disaster.</p> <p>“It’s been a free for all,’’ he said.</p> <p>“That money has gone into the banks. That to me is all wrong,” he said.</p> <p>“I just think it’s critical that on December 31 the early access scheme is terminated.”</p> </div> </div> </div>

Money & Banking

Placeholder Content Image

Millions earned in coronavirus fines

<p>Across Australia, each state and territory has enforced their own public health orders to deal with the coronavirus pandemic, by handing out fines and penalties to encourage Aussies to comply. </p> <p>While Australia's two biggest states have not disclosed the total amount of revenue they have received from these fines, the ABC reports that an estimate of $5.2 million has been raked in since pandemic laws came into effect in March this year.</p> <p>States like Tasmania are keeping the financial penalty relatively low at $756, however in Victoria, which is facing the nation's worst outbreak, a fine could cost up to $1,652.</p> <p><strong>Queensland</strong></p> <p>In Queensland, the maximum fine for breaching the state’s public health order is $4,003.</p> <p>QLD police have issued 2,168 infringement notices worth $2,998,872 from March 27 to July 27.</p> <p>Due to Queensland's Public Health Act, state and local government officers can hand out infringement notices. </p> <p>A Queensland Government spokesperson says funds from fines go towards the state's consolidated revenue.</p> <p>"Tough penalties apply to those who do the wrong thing by deliberately breaching the rules and putting the lives of others at risk," the spokesperson told the ABC.</p> <p>"Queenslanders have done a great job in uniting against COVID-19 … by complying with health rules, we can keep ourselves, our families and all Queenslanders safe."</p> <p><strong>Western Australia</strong></p> <p>In WA, people infringing the rules will cop a $1,000 fine.</p> <p>A WA Government spokesperson said the total fines issued had not exceeded $140,000.</p> <p>"In the rare cases where police have issued infringements, the breaches have been pretty obvious and careless of other people's health, safety and lives," the spokesperson said.</p> <p>"The McGowan Government has spent hundreds of millions of dollars responding to the pandemic and is investing billions of dollars on projects to drive economic and social recovery across the state."</p> <p><strong>South Australia</strong></p> <p>South Australia's first infringement was handed out on March 29, and a total of 448 notices totalling $503,750 have now been issued.</p> <p>A spokesperson has said any revenue received from fines was placed into "consolidated accounts in accordance with section 17 of the Expiation of Offences Act 1996".</p> <p>A consolidated account is a set of accounts that combines a number of separate smaller accounts.</p> <p><strong>Tasmania</strong></p> <p>Tasmania Police has issued a total of nine infringements to individuals, at $756 each which totals $6,804.</p> <p><strong>ACT</strong></p> <p>In the ACT, police issued the territory's first fine for a breach of coronavirus restrictions from July 17.</p> <p>Any revenue collected from infringements and fines in the ACT is "redirected into support for our local business community and health system to support Canberra through the COVID-19 pandemic", a spokesperson said.</p> <p><strong>Northern Territory</strong></p> <p>Northern Territory police has so far issued 146 infringements for coronavirus-related breaches at $1,106 each which totals out to $161,476.</p> <p>Authorities in NT had conducted more than 30,000 compliance checks as of July 30.</p> <p><strong>Victoria</strong></p> <p>Victoria Police have the power to issue on-the-spot fines of up to $1,652 for individuals and up to $9,913 for businesses which don't follow the directives of the Chief Health Officer.</p> <p>Fines of $200 are also issued to individuals who refuse to wear a mask.</p> <p>A spokesperson has said that all the revenue from infringements is being used to pay for the state’s key services and infrastructure.  All revenue from infringements was used to pay for the state's key services and infrastructure.</p> <p>Victoria does not and will not release the money made from penalties, fines, and infringements, and instead will be aggregated and published into the Victorian budget later this year.</p> <p><strong>New South Wales</strong></p> <p>It is not clear as to where the money made from penalties is going, or how much exactly the state has raked in.</p>

Money & Banking

Placeholder Content Image

Man discovers $2 million winning lotto ticket in his car

<p>A man who forgot about his lotto entry ended up scoring a $2 million division one prize after finding it on the passenger seat of his car.</p> <p>The man from Western Sydney was one of 10 division one entries who won across the country in Saturday’s Lotto $20 Million Superdraw.</p> <p>He said the lucky strike was “pure craziness” as he sat in his car on Monday being completely unaware of the multi-million dollar piece of paper on the seat next to him.</p> <p>“I only checked the ticket this morning. I jumped into my car and saw the ticket there, and I’d completely forgotten about it,” he told The Lott.</p> <p>“When I scanned it over and saw I had won I just couldn’t believe it! It’s honestly amazing.”</p> <p>The man played lotto once a month but never believed he would actually be a winner.</p> <p>As millions are expected to drop into his account soon, he said he hopes to use a portion of it to renovate his home and he wants to save the rest for his retirement.</p> <p>“We really want to do some renovations on our home. So this will certainly allow us to do that. And my wife and I are both semi-retired so we will put this towards our retirement fund and will be able to just really enjoy ourselves. It will be incredible.”</p> <p>The man purchased his winning ticket at Robertson Newsagency in the NSW Southern Highlands.</p> <p>“This is wonderful. There’s plenty of excitement around. In the current climate with all the uncertainty, fancy being able to hand a $2 million winning ticket to someone,” owner Hope Waters said.</p> <p>“All our customers are incredibly excited to hear the news, and they are all hoping it will be them next time. Congratulations to our winner. We hope they really enjoy it and can put their winnings to good use.”</p> <p>Of the 10 winners, four were from New South Wales, three from Victoria, and one each from Tasmania, South Australia and Western Australia.</p>

Money & Banking