'Money School' Book References

References are better when they’re clickable


As much as we love holding a paperback in our hands, locating the sources referenced is a pain in the proverbial when you’re dealing with a printed page.

We created this list so you can click instead of type or hunt. If you find a link that no longer works, please let us know.


1: Australian Bureau of Statistics, ‘General social survey: Summary results, Australia, 2014’ http://www.abs.gov.au/ausstats/abs@.nsf/mf/4159.0

2: William N. Goetzmann & Geert Rouwenhorst, Chapter 1, ‘Interest’, The Origins of Value (Oxford University Press, 2005)

3: https://yourmoneyoryourlife.com/book-summary/

4: https://www.frugalwoods.com/

5: Linda Moon, ‘FIRE: The “retire early” strategy enthralling millennials’, The New Daily, 28 April 2018, https://thenewdaily.com.au/life/wellbeing/2018/04/28/how-to-retire-early-fire-movement/

6: Sarah Laskow, ‘How retirement was invented’, The Atlantic, 24 October 2014 https://www.theatlantic.com/business/archive/2014/10/how-retirement-was-invented/381802/

7: Andrew Oxlade, ‘World pension ages on the rise: when will you retire?’, Schroders, 23 November 2017 https://www.schroders.com/en/insights/economics/world-pension-ages-on-the-rise-when-will-you-retire/

8: Vicki Robin & Joe Dominguez, Your Money or Your Life (Penguin, 2008), p. 23 https://yourmoneyoryourlife.com/book-summary/

9: Frank Chung, ‘“Time to regulate banks out of schools”: Dollarmites is worth $10 billion to CommBank, analyst says’, 24 January 2018 https://www.news.com.au/finance/business/banking/time-to-regulate-banks-out-of-schools-dollarmites-is-worth-10-billion-to-commbank-analyst-says/news-story/ cc2d305177bc6047fad72437d6adf9a3; John Rolfe, ‘Dollarmites account should be banned from schools, says the Barefoot Investor’, 3 September 2015 https://www.news.com.au/finance/dollarmites-account-should-be-banned- from-schools-says-the-barefoot-investor/news-story/b4dc922034e882fef521d102e5a503f0; 13th Annual Choice Shonkys, 4 October 2014 https://www.choice.com.au/shonky-awards/hall-of-shame/shonkys-2018/commonwealth-bank-dollarmites

10: https://www.press.uchicago.edu/pressReleases/2014/March/1403ConnellJCR.html

11: Tom McIlroy, ‘Warning sounded over federal budget’s growing reliance on individual income tax’, Financial Review, 18 April 2018 https://www.afr.com/ news/politics/warning-sounded-over-federal-budgets-growing-reliance-on- individual-income-tax-20180418-h0yx34; ‘Fact check: Comparing Australia’s income tax take with other OECD countries’, ABC News, 17 November 2015 https://www.abc.net.au/news/2015-11-17/fact-check-tax-rate-vs-the-oecd-scott-morrison/6925134

12: https://financialservices.royalcommission.gov.au/Pages/reports.aspx

13: Quote Investigator, ‘The best minds of our generation are thinking about how to make people click ads’, https://quoteinvestigator.com/2017/06/12/click/

14: Commonwealth of Australia, 2015 Intergenerational Report Australia in 2055, 2015 https://static.treasury.gov.au/uploads/sites/1/2017/06/2015_IGR.pdf; https://static.treasury.gov.au/uploads/sites/1/2017/06/2015IGR_Overview.pdf (see graphic on p. 9)

15: Dale Boccabella & Sarah Kaine, ‘How gig economy workers will be left short of super’, The Conversation, 19 October 2017 https://theconversation.com/how-gig-economy-workers-will-be-left-short-of-super-85814; https://www. superannuation.asn.au/ArticleDocuments/359/1803-Superannuation_balances_ of_the_self-employed.pdf.aspx?Embed=Y; Stephen Long & Janine Cohen, ABC News, ‘Millions of Australians missing out on superannuation, amid rise of gig economy’, 26 March 2018 https://www.abc.net.au/news/2018-03-26/millions-of-australians-missing-out-on-superannuation/9584736

16: The maximum age pension for a single person is $926.20 per fortnight as at 5 March 2019. https://www.humanservices.gov.au/individuals/services/centrelink/age-pension/eligibility/payment-rates

17: The poverty line for a sole person is $432 per week; P. Davidson, P. Saunders, B. Bradbury & M. Wong, Poverty in Australia, 2018 (ACOSS/UNSW Poverty and Inequality Partnership Report No. 2, Sydney: ACOSS), 2018 https://www.acoss.org.au/wp-content/uploads/2018/10/ACOSS_Poverty-in-Australia-Report_Web-Final.pdf

18: OECD, Pensions at a Glance 2015: OECD and G20 Indicators, 2016 http://www.keepeek.com/Digital-Asset-Management/oecd/social-issues-migration-health/pensions-at-a-glance-2015_pension_glance-2015-en#page1; 85% over 65 on pensions – AgeWatch report card, https://www.helpage.org/global-agewatch/population-ageing-data/country-ageing-data/?country=Australia; Australian spending 4.2% of GDP in 2016, sixth-last vs OECD 7.5% average, out of 37 – ‘Pension spending’ https://data.oecd.org/socialexp/pension-spending.htm

19: Financy Women’s Index, p. 6 https://financy.com.au/wp-content/uploads/2018/12/FWX_Dec18_Report_Final-1.pdf

20: Financy Women’s Index, p. 10 https://financy.com.au/wp-content/uploads/2019/10/FWX_Sept19_Report_Final.pdf

21: Nick Baker, ‘Counting dead women: The project keeping toll of Australia’s hidden “epidemic”’, SBS News, 18 January 2019 https://www.sbs.com.au/news/counting-dead-women-the-project-keeping-toll-of-australia-s-hidden-epidemic

22: Monique Ross, ‘Father who killed son, Luke Batty, at cricket ground had history of mental illness, says boy’s anguished mother’, ABC News, 14 February 2014 https://www.abc.net.au/news/2014-02-13/mother-in-shock-after-son-killed-by-father-at-cricket-oval/5258252

23:  The most recent sharing of Rosie Batty’s story was 1 March 2019 at the launch of Your Toolkit (https://www.yourtoolkit.com.au), where Lyn Beazley delivered the opening speech about where Financial Toolbox (https://www.financialtoolbox.org.au) came from, which led to the toolkit development.

24: Emily Stewart, ‘Lisa says she suffered financially for years. Now she’s teaching her kids to be money savvy’, ABC News, 11 May 2019 https://www.abc.net.au/news/2019-05-11/lisa-says-she-suffered-financially-for-years/11057290

25: https://www.studyassist.gov.au/help-loans/hecs-help

26: For a great comparison of the two, see Rob Berger, ‘Debt snowball versus debt avalanche: What the academic research shows’, Forbes, 20 July 2017 https://www.forbes.com/sites/robertberger/2017/07/20/debt-snowball-versus-debt-avalanche-what-the-academic-research-shows/#109492c11454

27: Melissa Dahl, ‘Yes, shopping can be addictive’, Elle, 6 January 2017 https://www.elle.com/fashion/shopping/a41845/shopping-dopamine/; Susan Weinschenk, ‘Shopping, dopamine, and anticipation’, Psychology Today, 22 October 2015 https://www.psychologytoday.com/au/blog/brain-wise/201510/shopping-dopamine-and-anticipation

28: https://raizinvest.com.au/

29: https://en.wikipedia.org/wiki/Hedonic_treadmill

30: Keating says 12 per cent minimum – see Paul Keating, ‘The story of modern superannuation’, 31 October 2007 http://www.keating.org.au/shop/item/the-story-of-modern-superannuation-31-october-2007

31: ‘I saved like a Fiend – at my peak I was saving (and investing) 91% of our income and living on only 9%. When our incomes were lowest, in our first few years, we maintained 80%+ savings rates through RENT HACKING & HOUSE HACKING.’ https://www.youtube.com/channel/UCe56q2OeCxBHreMzwiK82Ig [REPLACED LINK]

32: https://lifelongshuffle.com/2019/01/26/a-year-of-shuffling-2018-in-review/

33: https://www.frugalwoods.com/2015/01/09/well-hot-damn-frugality-works-our-2014-savings-rate-revealed/

34: https://www.mrmoneymustache.com/2011/09/15/a-brief-history-of-the-stash-how-we-saved-from-zero-to-retirement-in-ten-years/

35: Robert Kiyosaki, Rich Dad, Poor Dad (Plata Publishing: USA), 2002, p. 61

36: Australian Bureau of Statistics, ‘6401.0 – Consumer Price Index, Australia, Mar 2019’ http://www.abs.gov.au/ausstats/abs@.nsf/mf/6401.0

37: Scott Pape, The Barefoot Investor: The Only Money Guide You’ll Ever Need (Wiley: Australia), 2016 https://barefootinvestor.com/book

38: Tony Robbins, Money: Master the Game (Simon & Schuster: Australia), 2014, p. 390 https://www.goodreads.com/book/show/23014006-money-master-the-game [REPLACED LINK]

39: Commonwealth of Australia, ‘Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry’ https://financialservices.royalcommission.gov.au/Pages/default.aspx

40: The opening of Superfreakonomics states that the original Freakonomics book could be summed up by: people respond to incentives. https://www.litcharts.com/lit/freakonomics/themes/incentives

41: https://www.abc.net.au/news/business/kohler-report/

42: https://economicprinciples.org/

43: Using the figure from https://www.australiandebtclock.com.au/money [REPLACED LINK] of ~5.8 trillion debt total in Nov 2015, and economy size of $8.9 trillion in June 2016 from https://en.wikipedia.org/wiki/Economy_of_Australia (both actuals based on real data, not projections) Australia is 65 per cent debt, 35 per cent cash.

44: Adam Gorajek & Grant Turner, ‘Australian bank capital and the regulatory framework’, Reserve Bank of Australia, September Quarter 2010 https://www.rba.gov.au/publications/bulletin/2010/sep/6.html

45: https://economicprinciples.org/

46: Rob Turner, ‘Canada rated world’s soundest bank system: survey’, Reuters, 9 October 2008 https://www.reuters.com/article/us-financial-soundest-banks-idUSTRE4981X220081009

47: ‘Government guarantees on deposits’ section – https://www.moneysmart.gov.au/managing-your-money/banking

48: Scott Morrison, ‘Strengthening APRA’s crisis management powers’, Australian Government Treasury, 21 September 2015 http://sjm.ministers.treasury.gov.au/media-release/012-2018/ [UPDATED LINK]

49: Ann Lawler, ‘Does “bail-in” include bank deposits?’ Newcastle Herald, 10 December 2018 https://www.theherald.com.au/story/5802374/does-bail-in- include-bank-deposits/; James Eyers, ‘Regulators reject fringe fears on APRA crisis powers’, Financial Review, 11 February 2018 https://www.afr.com/business/banking-and-finance/regulators-reject-fringe-fears-on-apra-crisis-powers-20180210-h0vvye

50: List of authorised deposit-taking institutions covered under the Financial Claims Scheme https://www.fcs.gov.au/which-adis-are-covered

51: Reserve Bank of Australia Historical Data page – https://www.rba.gov.au/statistics/historical-data.html chart uses F01hist.xls, FIRMMCRI

52: https://www.marketwatch.com/investing/stock/brk.a

53: https://au.finance.yahoo.com/quote/bhp.ax/

54: BHP, ‘BHP Billiton merger complete’, 29 June 2001 https://www.bhp.com/media-and-insights/news-releases/2001/06/bhp-billiton-merger-complete

55: ‘Demerger taxation information’, https://www.bhp.com/investor-centre/shareholder-information/demerger-taxation-information

56: Daniel Myers, ‘Buy when there’s blood in the streets’, Forbes, 23 February 2009 https://www.forbes.com/2009/02/23/contrarian-markets-boeing-personal-finance_investopedia.html#5d514419b59a

57: https://www.investopedia.com/terms/b/bluechipstock.asp

58: ‘What did Warren Buffett’s diversification quote mean?’, Investopedia, 19 November 2018 https://www.investopedia.com/ask/answers/031115/what-did-warren-buffett-mean-when-he-said-diversification-protection-against-ignorance-it-makes.asp

59: Mark Hulbert, ‘This is how many fund managers actually beat index funds’, MarketWatch, 13 May 2017 https://www.marketwatch.com/story/why-way-fewer-actively-managed-funds-beat-the-sp-than-we-thought-2017-04-24

60: https://www.delisted.com.au/company/mr-whippy-holdings-limited

61: https://responsibleinvestment.org/

62: http://www.afi.com.au/List-of-Investments.aspx

63: https://www.asx.com.au/education/sharemarket-game.htm

64: http://www.firsthome.gov.au/

65: I was able to go without a guarantor because of the massive discount I’d achieved. The market value was $130 000, so I had over $25 000 of equity plus the $30 000 deposit at settlement. This made the property low risk, and my tiny living costs meant I was earning enough to meet the cashflow requirements.

66: Deloitte Access Economics, ‘The economic impact of stamp duty: Three reform options’, Property Council of Australia, downloadable from https://www.propertycouncil.com.au/Web/Content/Media_Release/National/2015/Abolishing_stamp_duty_would_grow_the_economy.aspx

67: James Fernyhough, ‘The meteoric rise of stamp duty explained’, The New Daily, 15 June 2015 https://thenewdaily.com.au/money/property/2015/06/15/meteoric-rise-stamp-duty-explained/

68: Robbins, op. cit., p. 390

69: Jim Edwards, ‘Switzerland is about to launch a huge experiment in “the war on cash”’, Business Insider Australia, 28 November 2015 https://www.businessinsider.com.au/negative-interest-rates-switzerland-sweden-and-war-on-cash-2015-11?r=US&IR=T

70: From personal conversations with ANZ and CBA employees, 2017–18

71: Walter Updegrave, ‘Some people have a crazy idea of what they can afford in retirement’, Money, 6 March 2017 http://money.com/money/4689984/safe-withdrawal-rate-retirement/, but this study questions validity: https://www.griffith.edu.au/__data/assets/pdf_file/0024/205683/FPRJ-V1-ISS1-pp22-32-safe-withdrawal-rates.pdf

72: Example derived from Robbins, op. cit., p. 117

73: Daniel Kahneman & Angus Deaton, ‘High income improves evaluation of life but not emotional well-being’, PNAS, 21 September 2010, 107 (38), pp. 16489–93 https://www.pnas.org/content/107/38/16489.abstract

74: Andrew T. Jebb, Louis Tay, Ed Diener & Shigehiro Oishi, ‘Happiness, income satiation and turning points around the world’, Nature Human Behaviour, Volume 2, 8 January 2018, pp. 33–38 https://www.nature.com/articles/s41562-017-0277-0

75: Barbara Drury, ‘How much super do I need to retire?’, SuperGuide https://www.superguide.com.au/boost-your-superannuation/comfortable-retirement-how-much-super-need. (Article is updated periodically – these numbers come from 11 March 2019 – and you can find detail on what is considered ‘comfortable’ too.)

76: Tax relief estimator https://www.budget.gov.au/2019-20/content/estimator/incometax.htm. (Used to accommodate recent budget changes. In future, searching the Australian Tax Office site at ato.gov.au for income tax brackets would be sufficient for someone wanting to calculate their effective tax rate.)

77: Stephen Letts & Matt Liddy, ‘When do people in your line of work retire?’, ABC News, 15 August 2018 https://www.abc.net.au/news/2018-08-15/when-do-people-in-your-job-retire-chart/10122410

78: https://www.ato.gov.au/rates/key-superannuation-rates-and-thresholds/

79: Financial year 2018–19 rates from https://www.ato.gov.au/Rates/Individual-income-tax-rates/

80: Quotes from two superannuation funds in financial year 2017–18 ($450 and $475 for same service, deducted from your super balance).

81:  https://www.ato.gov.au/Individuals/Super/Growing-your-super/Keeping-track-of-your-super/

82:  Approximately two-thirds of actively managed funds (with higher fees) fail to beat passive index funds (with lower fees) https://www.smh.com.au/business/markets/index-funds-beat-active-funds-hands-down-20141008-10rvsk.html

83: https://www.vanguardinvestments.com.au/au/portal/homepage.jsp

84: https://www.moneysmart.gov.au/superannuation-and-retirement/income-sources-in-retirement/age-pension

85:  https://www.humanservices.gov.au/individuals/services/centrelink/age-pension/eligibility/payment-rates

86:  P. Davidson et al, op. cit. https://www.acoss.org.au/wp-content/uploads/2018/10/ACOSS_Poverty-in-Australia-Report_Web-Final.pdf

87:  Lance Wiggs, ‘Valuing Xero again’, 20 February 2018 https://lancewiggs.com/

88:  https://profitfirstbook.com/

89:  https://www.amazon.com/Millionaire-Makers-Guide-Creating-Machine/dp/B002ECEHC4

90:  https://fourhourworkweek.com/

91: https://www.asktrim.com/

92: Tamara DiMattina, ‘How I started the growing Buy Nothing New movement’, Money, 17 October 2018 https://moneymag.com.au/buy-nothing-new/

93: http://www.25andfree.com/ [UPDATED LINK – NOW YOUTUBE CHANNEL]

94:  https://housepriceindex.ca/#chart_compare=c11,on_london

95: http://www.25andfree.com/2018/01/03/rent-hacking-guide-live-rent-free/ [UPDATED LINK – NOW ON YOUTUBE]

96: Jennifer Duke, ‘What to do when property bubbles burst: Investor $3.5 million in the red’, Domain, 22 February 2016 https://www.domain.com.au/news/what-to-do-when-property-bubbles-burst-35-million-in-the-red-20160223-gn086p/

97: https://www.asx.com.au/documents/resources/UnderstandingOptions.pdf

98: Jane Gilmore, ‘The cost of womanhood’, Queen Victoria Women’s Centre, 23 May 2017 https://janegilmore.com/article-the-cost-of-womanhood/ [UPDATED LINK] – I first came across this story when Elizabeth Davie shared it in her performance of ‘Super Woman Money Program’ (https://www.elizabethdavie.com/stand-up-and-live-shows/2017/8/15/super-woman-money-program) at Perth Fringe Festival in early 2018. It’s stayed with me ever since.

99  Porter Gale, Your Network Is Your Net Worth: Unlock the Hidden Power of Connections for Wealth, Success, and Happiness in the Digital Age (Simon & Schuster/Atria), 2013

100: Maureen Eppen, ‘Secrets of hidden market’, West Australian, 30 September 2017 https://www.pressreader.com/australia/the-west-australian/20170930/282673277521145

101: https://en.wikipedia.org/wiki/Fukushima_Daiichi_nuclear_disaster

102:  https://en.wikipedia.org/wiki/Deepwater_Horizon_oil_spill

103: Daniel Mercer, ‘WA households set for $120 a year power price hike as WA Labor look for Budget fix’, West Australian, 7 April 2018 https://thewest.com.au/news/wa/wa-households-set-for-120-a-year-power-price-hike-as-wa-labor-look-for-budget-fix-ng-b88797949z

104: Kate Kelland, ‘Study finds poverty reduces brain power’, Reuters, 30 August 2013 https://www.reuters.com/article/us-poverty-brain-idUSBRE97S10W20130829

105: https://www.financialcounsellingaustralia.org.au/Home/

106: Alexis Carey, ‘More than half of Aussies don’t have enough spare cash to survive an emergency’, news.com.au, 14 June 2018 https://www.news.com.au/finance/money/wealth/more-than-half-of-aussies-dont-have-enough-spare-cash-to-survive-an-emergency/news-story/868bca936882124e500baa1547b1bc51

107: Eliza Borrello, ‘More than 32,000 Australians declared bankruptcy in 2017–18’, ABC PM, 23 July 2018 https://www.abc.net.au/radio/programs/pm/more-than-32000-australians-declared-bankruptcy-in-2017-18/10058152

108: https://www.ndis.gov.au/

109: Pat McGrath, ‘Are time share holiday schemes value for money?’, 7.30, 13 September 2017 https://www.abc.net.au/7.30/are-time-share-holiday-schemes-value-for-money/8943106

110: https://www.asx.com.au/documents/resources/UnderstandingOptions.pdf

111: Caitlin Fitzsimmons, ‘Financial stress is big cause of break-ups. How to money- proof your relationship’, Sydney Morning Herald, 8 September 2017 https://www.smh.com.au/money/planning-and-budgeting/financial-stress-is-big-cause-of-breakups-how-to-moneyproof-your-relationship-20170908-gydyc5.html

112: https://thomasgatter.com.au/

113: ‘The economics of divorce’, Mr Money Mustache, 31 December 2018 http://www.mrmoneymustache.com/2018/12/31/divorce/.

114: Abigail Hess, ‘Here’s why lottery winners go broke’, Make It, 25 August 2017 https://www.cnbc.com/2017/08/25/heres-why-lottery-winners-go-broke.html

115: Travis Bradberry, ‘Why everyone should have unlimited vacation days’, LinkedIn, 29 November 2015, https://www.linkedin.com/pulse/why-everyone-should-have-unlimited-vacation-days-dr-travis-bradberry/

116: Neil Ungerleider, ‘Kickstarter nixes unlimited vacation time for employees’, Fast Company, 24 September 2015 https://www.fastcompany.com/3051537/kickstarter-nixes-unlimited-vacation-time-for-employees

117: https://www.linkedin.com/company/inventium/

118: Sophie Haslett, ‘Is this Australia’s most flexible workplace?’ Daily Mail, 18 March 2019 https://www.dailymail.co.uk/femail/article-6820665/Is-Australias-flexible-workplace-Company-introduces-three-month-life-leave-policy.html

119: Nassim Khadem, ‘AECOM trials 12 weeks annual leave scheme for working parents’, Sydney Morning Herald, 22 October 2017 https://www.smh.com.au/business/workplace/aecom-trials-12-weeks-annual-leave-scheme-for-working-parents-20171020-gz5c8w.html

120: https://www.afp.gov.au/careers/benefits-and-conditions

121: Ryan’s TEDxUWA talk on ‘Conquering insignificance with humanism’ covers how he ended up following this path. https://youtu.be/ouE5LINk68o

122: Quote Investigator, ‘The best minds of our generation are thinking about how to make people click ads’, https://quoteinvestigator.com/2017/06/12/click/

123: I am alluding to Australian company law, which places the survival of the company first for non-executive directors (NED) (e.g. ‘Directors must act for the benefit of “the company as a whole”. In general, this means that directors must act in the interests of all members collectively. However, directors may sometimes be required or permitted to take other interests into account’ – from Duties and liabilities of directors of Australian companies, Baker McKenzie https://www.bakermckenzie.com/-/media/files/locations/australia/bk_australia_dutiesliabilitiesofdirectors_dec17.pdf?la=en). If a NED fails to do the best thing for the company, they open themselves up to prosecution that can result in them being sued personally. This is part of the reason we’ve ended up with the Banking Royal Commission.

Phew! That’s 123 references, done and dusted. Thanks for reading.