Posts

What is financial independence and why is it so important?

We bang on about financial independence a lot at Money School. It features heavily in our blogs, and it appears in our education for kids.

But what does it actually mean, and why should you care?

What does financial independence mean?

We define financial independence as being able to support your lifestyle without having to work.

In money terms: you don’t need a wage to meet your costs. You’ve got enough income (rent, dividends, interest etc) coming in from your assets (cash, shares, bonds, property etc) that you can feed, clothe and house yourself in the style to which you have become accustomed.

These are technical definitions and can seem a bit nebulous. Here’s what financial independence really means (in my personal experience): Read more

The gender pay gap: is your Lisa Wilkinson moment here?

Lisa Wilkinson’s refusal to accept a pay packet half the size of her male co-host’s was a laudable moment. I hope I will describe it to my daughter as the point at which the tide turned and the gender pay gap began to close.

Right now, it raises several questions:

Why hasn’t Karl – a man who wore the same suit for a year to demonstrate how much abuse his co-host got for her appearance – resigned in solidarity? Does he condone Channel 9 paying Lisa less? Or does he think he’s worth twice as much as she is, or does twice as much work? Does he just really, really need that pay packet after his divorce settlement? Read more