Money & Banking

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How maths can help you get a good deal at the bank

<div class="copy"> <p>Few people love mathematics.</p> <p>A common refrain among students is, “Why do I have to learn this stuff? When will I need it?” But having a working knowledge of the basic concepts is essential in daily life as an adult.</p> <p>We use them when counting cash, calculating mortgage payments and filling out tax returns.</p> <p>In fact, it was financial matters such as loans, interest payments and gambling that spurred the development of a lot of early mathematics.</p> <p>Negative numbers, for example, were needed to represent debt, and the mathematical rules for their use were worked out in India and the Islamic world by the 7th century.</p> <p>One money problem that was carefully analysed in the 17th century concerned compound interest – a familiar enough concept today.</p> <p>Just like modern banks, the money lenders of the day competed for customers using interest rates as incentives.</p> <p>But when making comparisons the customer always has to be careful of the small print.</p> <p>Interest rates are normally expressed on an annual basis.</p> <p>For example, a simple 5% annual interest means that $100 investment becomes $105 at the end of one year.</p> <p>But if interest is credited, say, every six months, the customer gets a higher overall annual return.</p> <p>To keep the arithmetic simple, imagine a bank that paid 100% annual interest (that would be nice!).</p> <p>If credited annually, that rate of interest would turn $100 into $200 at the end of the year.</p> <p>But if credited every six months, then $50 gets credited to the account after six months, so at the end of the year the original capital has earned $100, but the $50 credited after six months will itself earn $25 interest over the second half of the year.</p> <p>So by offering biannual compound interest, the bank would pay the customer $125 interest at the end of one year rather than $100.</p> <p>A customer who started with $100 would now have $225 in the account.</p> <p>If the interest is paid quarterly, the deal is even better, amounting to a little over $244 at the end of the year.</p> <p>The more often the interest is credited, the higher the final total.</p> <p>But it is a process of diminishing returns: the total goes up by a smaller and smaller amount the more frequently you credit the interest.</p> <p>Crediting every day would yield a bit over $271. That is to say, the original capital will have been boosted 2.71 times.</p> <p>All of which raises the question: what would be the upper limit to this compounding process?</p> <p>Mathematicians were pondering this even back in the 17th century.</p> <p>In 1683, the mathematician Jacob Bernoulli found the answer: 2.7182818… (the ellipsis indicates that this number is an unending decimal).</p> <p>It is an <a href="https://cosmosmagazine.com/mathematics/the-square-root-of-2">irrational number</a> and, like π<span style="font-family: inherit;">, proved to be a fundamental mathematical constant that turns up in fields as diverse as accounting, physics, engineering, statistics and probability theory. </span></p> <p><span style="font-family: inherit;">It is such an important number it is given a letter all its own: e. </span></p> <p><span style="font-family: inherit;">Peruse any textbook on science, engineering or economics, and you will see the symbol e scattered throughout. </span></p> <p><span style="font-family: inherit;">It is most often used in connection with “exponential growth” – a term that has entered the popular lexicon, though it is often misused. </span></p> <p><span style="font-family: inherit;">The correct meaning refers to a specific type of rapid, runaway growth in which a quantity doubles in a fixed time, and then doubles again, and again, ad infinitum. </span></p> <p><span style="font-family: inherit;">The population of bacteria in a dish, for example, will increase exponentially if their growth is unrestrained. </span></p> <p><span style="font-family: inherit;"> One familiar example of exponential growth is Moore’s Law, named after Gordon Moore, co-founder of Intel. </span></p> <p><span style="font-family: inherit;">After noticing in 1965 that the size of transistors was rapidly shrinking, which meant more of them could fit onto a computer chip, he predicted that processing power would double roughly every two years (and the price would drop by half). </span></p> <p><span style="font-family: inherit;">Remarkably, this exponential growth has remained more or less consistent for several decades, though nobody expects it to go on forever. </span></p> <p><span style="font-family: inherit;">And e makes a surprise appearance in less obvious places, too. </span></p> <p><span style="font-family: inherit;">My favourite example is e’s application to the secretary problem. </span></p> <p><span style="font-family: inherit;">Imagine there are 100 applicants </span><span style="font-family: inherit;">to be randomly interviewed </span><span style="font-family: inherit;">for a secretarial job. </span></p> <p><span style="font-family: inherit;">At the end of each interview, the interviewer must give the applicant an irrevocable decision as to whether they’ve got the job. </span></p> <p><span style="font-family: inherit;">It would be risky to see them all, dismissing the first 99, because the 100th interviewee would have to be given the job regardless of quality.</span></p> <p><span style="font-family: inherit;">The conundrum is this: to maximise the probability of getting the best candidate, how many should be interviewed before selecting the first remaining candidate who trumps the ones already seen? </span></p> <p><span style="font-family: inherit;">It turns out the answer is 100/e, or about 37. This result is worth remembering by people who like to play the dating game methodically. </span></p> <p><span style="font-family: inherit;">So mathematical knowledge isn’t just useful at tax time. </span></p> <p><span style="font-family: inherit;">Perhaps if more people knew maths could help them find love, more would be willing to embrace it.</span></p> <p><em><span style="font-family: inherit;">Image credit: Shutterstock</span><span style="font-family: inherit;"></span></em></p> <p><em><span style="font-family: inherit;">This article was originally published on <a rel="noopener" href="https://cosmosmagazine.com/science/mathematics/explore-the-potential-of-exponential-growth/" target="_blank">cosmosmagazine.com</a> by Paul Davies. </span></em></p> </div>

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7 signs you’re a shopping addict

<p>Online shopping is a huge help for many people, especially in lockdown.</p> <p>But, with online shopping rates sky rocketing, here are some tips on how to identify a shopping addiction.</p> <p><strong>1. Spending hours a day scrolling through online shops/apps</strong></p> <p><span>Apps have made it easier than ever to access a worldwide wardrobe at the click of a button. </span></p> <p><span>As great as this can be for retailers and those always on the go, for those struggling with shopping addiction, this can be extremely detrimental as it has never been easier to instantly feed your shopping habit.</span></p> <p><strong>2. Spending more than you can afford</strong></p> <p>This is a common issue for those suffering from an addiction.</p> <p>An addiction can lead to a feeling of lack of control, and this can include the amount we spend.</p> <p>Much like gambling addiction, shopping addiction can have a hugely negative impact on our finances.</p> <p>If you find that you can relate to this and feel overwhelmed about what to do next, please do reach out for professional help and do not feel afraid of being judged.</p> <p>You can quickly find yourself dipping into savings, remortgaging your home and even in some cases borrowing or stealing from partners/family or friends to fund the addiction.</p> <p><strong>3. Feeling a loss of control</strong></p> <p>For those with an addiction, repeating the unhealthy action can sometimes feel like the only way they can regain control of their lives.</p> <p>As we know, it is hard to step out of this unhealthy cycle.</p> <p>With shopping addiction, placing an order is the only way some people may feel like they can feel in control for a brief period of time.</p> <p>It is important to try to remember that this feeling of control will fade again and breaking a cycle like this is important for our mental health.</p> <p><strong>4. The urge to shop when you feel upset or angry</strong></p> <p>If you find you have the urge to shop more when you are going through periods of feeling upset or angry, this may be a sign of a shopping addiction.</p> <p>Again, this is a form of trying to gain back control or take your mind off the topic that has upset or angered you.</p> <p>For any ongoing depressive moods or mood swings, we would always recommend seeking advice from your healthcare provider – or alternatively from mental health services who will be able to give you advice on how best to tackle these feelings in a healthier way.</p> <p><strong>5. Euphoric type rushes</strong></p> <p>Do you ever get a feeling of exhilaration and/or anxiety whenever you place an order?</p> <p>We have all got excited now and again about an order—but if shopping gives you an intense rush (as if you have just been on a rollercoaster) every time, then this may be a sign of addiction.</p> <p>Euphoric rushes are caused by surges of the brain chemical dopamine.</p> <p>Much like a drug addiction, the brain will produce less dopamine each time as it gets used to the activity.</p> <p>However, the body then craves the exhilarating feeling and therefore people can feel like they need to increase the amount they spend, or number of orders they place, in order to get the highs they are craving.</p> <p><strong>6. Buying so much that you own many items never worn or used</strong></p> <p>If you find many items you have bought still have their labels on them, it may be time to think about how much you are shopping.</p> <p>We are all guilty of having items in our wardrobe we swore we were going to wear on the right occasion.</p> <p>However, if there are more than a few items in your wardrobe or in storage that you have not seen or touched since buying them then consider this before buying anything else.</p> <p><strong>7. Shopping in bed when you should be asleep</strong></p> <p>Many people with addiction struggle to switch off. At night, those with an online shopping addiction can find themselves unable to sleep and reaching for their phones, and specifically their shopping apps, for comfort.</p> <p>Those with an online shopping addiction may find themselves more prone to shop on an evening or when they’re in bed with nothing else to do or concentrate on.</p> <p>If you do relate to this then many can find that doing calm exercises such as yoga before bed can help relax the body.</p> <p>We would also recommend turning off your phone or leaving it in another room for the night so you are less tempted to reach for it.</p> <p>Further tips from the experts to curb the urge</p> <ul> <li>Take your shopping apps off of your phones main home screen, or remove them from your phone completely</li> <li>Monitor the amount of time you spend scrolling for clothes and other items</li> <li>Understand it is not the norm to have the same amount of clothes as influencers – most of these clothes/items get sent back to the brands</li> <li>If you need some motivation to shop less, remember the less items we buy, the better for the environment. Consider donating items you haven’t used or worn to charity, or donating the money you would otherwise spend towards a charity to offset your carbon footprint.</li> </ul> <p>Most importantly, if you feel you are struggling with a shopping addiction, do not play this down.</p> <p>Do reach out to friends and loved ones who may be able to help and make sure to reach out to mental health professionals.</p> <p>Shopping addiction generally masks underlying issues of stress that may manifest into another addiction if you do not shop.</p> <p><em>Image credit: Shutterstock</em></p> <p><em>This article was first published for <a rel="noopener" href="https://www.readersdigest.co.nz/food-home-garden/money/7-signs-youre-a-shopping-addict" target="_blank">Reader's Digest</a>. </em></p>

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How to save money by buying second-hand

<p><span style="font-weight: 400;">Melbourne woman Tamara DiMattina has become a self-proclaimed expert at finding bargains at second-hand stores. </span></p> <p><span style="font-weight: 400;">Tamara, who is the founder of the lifestyle program </span><span style="font-weight: 400;">The New Joneses</span><span style="font-weight: 400;">, perfected the art while working at a high-end auction house in London. </span></p> <p><span style="font-weight: 400;">The savvy shopper discovered the wonder of op-shopping when her profession required her to look the part, which seemed out of reach due to her low salary. </span></p> <p><span style="font-weight: 400;">Tamara now considers her love of op-shopping as a lifestyle choice which has allowed her to pay off her mortgage quicker, while buying better for less. </span></p> <p><span style="font-weight: 400;">“If people can get over thinking: ‘It’s second-hand, it’s not as good,’ then they can get fantastic deals, and afford that fantastic quality,” she said to </span><a href="https://www.news.com.au/finance/money/costs/the-new-joneses-tamara-dimattina-shows-how-buying-second-hand-saves-money/news-story/65e6801865810dbc8839a049a2add6e0"><span style="font-weight: 400;">news.com.au.</span></a></p> <p><span style="font-weight: 400;">“That’s how I live my life. I buy everything second-hand and I’m always buying beautiful quality things.”</span></p> <p><span style="font-weight: 400;">“It means I’m saving money on pretty much every purchase I make, and that money then goes against my mortgage.”</span></p> <p><span style="font-weight: 400;">Tamara has scored a range of bargains from shopping second-hand, including </span><span style="font-weight: 400;">$60 fully-functional speakers that retail for $150, and paying $800 for a Thermomix, which cost considerably less than its $2000-plus RRP.</span></p> <p><span style="font-weight: 400;">She believes that it’s important for people to re-frame how they view op-shopping, and realise it is not only the more sustainable choice, but it enables shoppers to buy higher end products that may have been previously out of reach. </span></p> <p><span style="font-weight: 400;">“I think it’s really important to understand that this is a fantastic opportunity to get great stuff at a much reduced rate.” </span></p> <p><span style="font-weight: 400;">“(Buying second-hand) doesn’t mean it’s no longer good, it just means that person doesn’t need that anymore,” she says. </span></p> <p><span style="font-weight: 400;">“For example, I’ve never bought a new iPhone, I always buy a second-hand iPhone. It might mean I’m a few generations behind the latest model, but I don’t need the latest and I save a huge amount of money.”</span></p> <p><span style="font-weight: 400;">Some of the things Tamara can easily find during her op-shopping ventures are high quality kitchenware and appliances, as well as furniture that just needs a clean and good home. </span></p> <p><span style="font-weight: 400;">Tamara has also utilised Facebook marketplace to find pre-loved treasures, and has also found items for free which comes with a true sense of accomplishment. </span></p> <p><span style="font-weight: 400;">“I don’t waste money buying excessively,” she says. </span></p> <p><span style="font-weight: 400;">“I get this extreme pride and joy in going, ‘Wow look at this and it only cost me this much’ but not in a way that says I think cheaper is better.”</span></p> <p><em><span style="font-weight: 400;">Image credit: Shutterstock / Florence Guild Youtube</span></em></p>

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Outsourcing unpleasant tasks makes you happier

<div> <div class="copy"> <p>Paying someone to help out with odd jobs is on the rise through apps like AirTasker, and new research suggests this behaviour could lead to a happier life.</p> <p>A research team from Canada, the UK and the Netherlands conducted a global study of more than 6000 people, and found a correlation between happiness and procuring paid help with their least favourite daily jobs, such as cleaning and cooking.</p> <p>“Around the world, increases in wealth have produced an unintended consequence: a rising sense of time scarcity,” the researchers write in their paper, <a href="http://www.pnas.org/cgi/doi/10.1073/pnas.1706541114">published in the journal </a><a href="http://www.pnas.org/cgi/doi/10.1073/pnas.1706541114">PNAS</a>.</p> <p>“We provide evidence that using money to buy time can provide a buffer against this time famine, thereby promoting happiness.”</p> <p>The research team, led by Ashley Whillans at Harvard University, focused on increasing levels of time stress in developed countries.</p> <p>Research says time scarcity, which is on the rise in many countries, can be linked to higher anxiety, reduced happiness, insomnia and even obesity in individuals.</p> <p>The team wanted to investigate whether using a portion of income to “buy free time” – for example, paying someone to do household chores like cooking, cleaning and shopping – could potentially decrease the effects of these feelings of “time famine”.</p> <p>The surveyed participants included a mix of everyday workers and millionaires living in the USA, Denmark, Canada and the Netherlands.</p> <p>The survey recorded how much money each participant spent each month on delegating unenjoyable everyday tasks, as well as reporting on each individual’s overall life satisfaction.</p> <p>Across all four countries, and across a range of demographics and income brackets, buying time was linked to greater life satisfaction.</p> <p>The researchers suggest the link could point to a greater sense of perceived control, however spending too much money on services and tasks could have the reverse effect, giving an individual the sense they can’t manage their own life tasks, and therefore reducing their happiness.</p> <p>These results are particularly relevant in discussions of gender-based labour division in the home, the researchers say.</p> <p>“Within many cultures, women may feel obligated to complete household tasks themselves, working a ‘second-shift’ at home, even when they can afford to pay someone to help.</p> <p>“In recent decades, women have made gains, such as improved access to education, but their life satisfaction has declined; increasing uptake of timesaving services may provide a pathway toward reducing the harmful effects of women’s second-shift.”</p> <p><em>Image credit: Shutterstock</em></p> <em><img id="cosmos-post-tracker" style="opacity: 0; height: 1px!important; width: 1px!important; border: 0!important; position: absolute!important; z-index: -1!important;" src="https://syndication.cosmosmagazine.com/?id=17061&amp;title=Outsourcing+unpleasant+tasks+makes+you+happier" alt="" width="1" height="1" /></em></div> <div id="contributors"> <p><em>This article was originally published on <a rel="noopener" href="https://cosmosmagazine.com/people/society/outsourcing-unpleasant-tasks-scientifically-proven-to-make-you-happier/" target="_blank">cosmosmagazine.com</a> and was written by Amy Middleton.</em></p> </div> </div>

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Napoleon Bonaparte’s iconic hat showcased for auction

<p><span style="font-weight: 400;">A newly discovered hat that once belonged to European statesman and general Napoleon Bonaparte has been showcased at an auction house in Hong Kong. </span></p> <p><span style="font-weight: 400;">The hat contains DNA of the esteemed general, proving it was once in his possession. </span></p> <p><span style="font-weight: 400;">Described by Bonhams auction house as the “first hat to bear the emperor’s DNA”, the item is currently on display in Hong Kong, before it will be relocated to Paris for a showing and then passed on to London, where it will be auctioned off. </span></p> <p><span style="font-weight: 400;">The hat is one of the most iconic images of Napoleon’s reign during the French Revolution, and a highly sought after item for history buffs and collectors of unique items.</span></p> <p><span style="font-weight: 400;">Napoleon’s hat was bought by its current owner at a small auction house in Germany, with the owner not realising that it once belonged to the emperor. </span></p> <p><br /><img style="width: 500px; height: 281.25px;" src="https://oversixtydev.blob.core.windows.net/media/7843847/napoleon-hat.jpg" alt="" data-udi="umb://media/c67f28fc696e47899a509c07949bbc0a" /></p> <p><em><span style="font-weight: 400;">Image credit: Bonhams Auctions</span></em></p> <p><span style="font-weight: 400;">"It was purely a chance encounter," said Simon Cottle, managing director for Bonhams Europe.</span></p> <p><span style="font-weight: 400;">The buyer became interested in the hat when he realised it had unique inscriptions and other unusual characteristics that suggested it could have belonged to Napoleon.</span></p> <p><span style="font-weight: 400;">The hat was then extensively tested using various methods, which recovered five hairs that carried the General’s DNA. </span></p> <p><span style="font-weight: 400;">Most other Napoleon collectors' items were handed down by noble families or from soldiers who picked them up off the battlefield, whereas this hat holds a very different story. </span></p> <p><span style="font-weight: 400;">The estimated price for the hat is currently between $185,000 and $270,000 with interested buyers remaining skeptical of that hat’s authenticity. </span></p> <p><span style="font-weight: 400;">Other Napoleon items that have gone through global auction circuits have been sold for as much as $3.3million. </span></p> <p><em><span style="font-weight: 400;">Image credit: Getty Images/Bonhams Auctions</span></em></p>

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Rich feelings: better or worse?

<div class="copy"> <p>t’s the age-old question: we all want money, but does it <a href="https://medium.com/@natalie.parletta/money-doesnt-bring-happiness-yet-we-keep-spending-ef0faf3047fb">make us happy</a>? Invariably, the answer is nuanced but some consistent themes have emerged.</p> <p>Researchers have pooled data on the relationship between money and emotions from more than 1.6 million people across 162 countries and found that wealthier people feel more positive “self-regard emotions” such as confidence, pride and determination.</p> <p>People with lower incomes, on the other hand, had more negative emotions towards themselves such as anxiety, sadness and shame, reports the study <a href="https://doi.org/10.1037/emo0000933">published</a> in the journal <em>Emotion</em>. </p> <p>Perhaps not surprisingly, having a greater sense of control mediated those feelings – in other words, people with more wealth and higher positive self-regard also felt more in control of their life’s direction and ability to surmount obstacles. </p> <p>These results held true across high-income and developing countries.</p> <p>But wait – there’s more to it.</p> <p>When it comes to feelings people have towards others – such as love, anger, gratitude and compassion – the findings aren’t so clear-cut: there wasn’t a consistent link between these emotions and income. </p> <p>“Having more money doesn’t necessarily make a person more compassionate and grateful, and greater wealth may not contribute to building a more caring and tolerant society,” says lead author Eddie Tong, from the National University of Singapore.</p> <p>Happiness and other global emotions also had no consistent relationship with income across countries, so the jury is still out on that one – clearly other factors are at play.</p> <p>It’s important to note that the study, based on five large data sets, is correlational – although notably, longitudinal analyses of US data showed that income predicted self-regard emotions over time.</p> <p>The relationships were relatively small so the true picture is more complex. But the authors note that “some small effects may accumulate into practically significant effects in real life over time.</p> <p>“The findings here may thus have substantial real-world relevance, at both individual and societal levels.”</p> <img id="cosmos-post-tracker" style="opacity: 0; height: 1px!important; width: 1px!important; border: 0!important; position: absolute!important; z-index: -1!important;" src="https://syndication.cosmosmagazine.com/?id=141200&amp;title=Rich+feelings%3A+better+or+worse%3F" alt="" width="1" height="1" /></div> <div id="contributors"> <p>This article was originally published on <a rel="noopener" href="https://cosmosmagazine.com/health/body-and-mind/rich-feelings-better-or-worse/" target="_blank">cosmosmagazine.com</a> and was written by Natalie Parletta. </p> </div>

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Marriage doesn’t cure reckless spending

<div class="copy"> <p><span style="font-family: inherit;">People who tend to splash their cash are unlikely to become more prudent after marriage, new research shows.</span></p> <p><span style="font-family: inherit;">Hisaki Kono from Japan’s Kyoto University and Tomomi Tanaka of the World Bank in Washington DC, US, studied 134 married couples in a middle-class area in Vietnam to see if spendthrift behaviour before marriage was moderated after getting hitched.</span></p> <p><span style="font-family: inherit;">The answer, <a href="https://journals.plos.org/plosone/article?id=10.1371/journal.pone.0217646">published</a> in the journal PLOS One, is a resounding “not really”.</span></p> <p><span style="font-family: inherit;">The habit of splurging on impulse purchases is known in the jargon as “present bias”, defined by Kono and Tanaka as “the overvaluation of an immediate payoff”. It is a habit that often results in both short- and long-term problems, because it negatively impacts household budgets and savings bases. </span></p> <p><span style="font-family: inherit;">To test whether being married reduced present bias behaviour, the researchers interviewed all the husbands and wives individually, and asked them, as couples, to participate in a series of experiments that required them to make decisions about the allocation of imaginary funds. </span></p> <p><span style="font-family: inherit;">On the good news side of the ledger, the results showed that spendthrifty partners were less likely to be swayed by present bias when making joint financial decisions than when asked to make decisions on their own.</span></p> <p><span style="font-family: inherit;">However, present biased spouses were also likely to contribute smaller sums from their income for combined household spending. </span></p> <p><span style="font-family: inherit;">In situations where the profligate partner was in charge of the financial planning – something that occurred unexpectedly often – the more prudent partner was likely to be asked to put a higher proportion of income into the common pot.</span></p> <p><span style="font-family: inherit;">“Present-biased individuals also receive larger amounts of money from their spouses’ incomes, indicating that marriage not only fails to function as a savings commitment device but also exacerbates the problem,” the researchers write.</span></p> <p><span style="font-family: inherit;">They also noted that when prudent partners were in charge of finances, they tended to allocate only small amounts of spending money to their spouses – but that the recipients also tended to “conceal money to counteract this strategy”.</span></p> <p><span style="font-family: inherit;">The researchers tentatively suggest that in at least some partnerships unequal spending between partners was tolerated because of “the affection and acceptance that form the basis of marriage”, and because the union brought other, non-financial benefits, such as emotional support and protection.</span></p> <p><span style="font-family: inherit;">It is perhaps not surprising, however, that Kono and Tanaka found that women were more likely than men to be disadvantaged by a present-biased partner – and that they were therefore more likely to use external money-management strategies such as talking to financial advisers and locking funds up in savings accounts.</span></p> <p><span style="font-family: inherit;"><em>Image credit: Getty Images</em></span></p> <p><em><span style="font-family: inherit;">This article first appeared on <a rel="noopener" href="https://cosmosmagazine.com/people/behaviour/marriage-doesnt-cure-reckless-spending-researchers-find/" target="_blank">cosmosmagazine.com</a> and was written by Andrew Masterson.</span></em></p> <img id="cosmos-post-tracker" style="opacity: 0; height: 1px!important; width: 1px!important; border: 0!important; position: absolute!important; z-index: -1!important;" src="https://syndication.cosmosmagazine.com/?id=25625&amp;title=Marriage+doesn%E2%80%99t+cure+reckless+spending" alt="" width="1" height="1" /></div>

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Why kindness through a divorce is so important

<p><span style="font-weight: 400;">The general public perception of divorce is hatred, animosity, resentment and bitterness. </span></p> <p><span style="font-weight: 400;">Difficult separation proceedings can often negatively impact the outcomes of the separation, as well as individuals health and wellbeing.</span></p> <p><span style="font-weight: 400;">However, there are more peaceful ways to amicably end a relationship and go your separate ways as equals. </span></p> <p><span style="font-weight: 400;">Family lawyer, mediator and divorce guide </span><span style="font-weight: 400;">Kirsty Salvestro has had experience with divorced couples since her parents separated when she was a child. </span></p> <p><span style="font-weight: 400;"></span><span style="font-weight: 400;">Kirsty says the key to recalibrating how we think of divorce is kindness. </span></p> <p><span style="font-weight: 400;">She says, “We really need to focus on resolving the pain and hurt, to focus on good behaviour, strong morals, and kind actions. It is hard, but we can do it.”</span></p> <p><span style="font-weight: 400;">While this can often be a challenge when separating from someone, there are steps to help achieve this amicable divorce. </span></p> <p><span style="font-weight: 400;">Kirsty believes that step one is redefining the cause of the separation. </span></p> <p><span style="font-weight: 400;">“Divorce should be seen as the acceptance and acknowledgment of a shared problem that needs to be solved. We need not immediately declare war to resolve that problem, what we need to do is work together to create the best solution.”</span></p> <p><span style="font-weight: 400;">She says that the most important thing is treating your partner with kindness, without feeling the need to be overflowing with love and affection. </span></p> <p><span style="font-weight: 400;">“This means choosing a kind and calm response rather than a hurtful and inflammatory one. The kindest response may be to do nothing at all.”</span></p> <p><span style="font-weight: 400;">Kirsty also believes in the importance of not taking any drastic actions that could exacerbate an already fragile situation. </span></p> <p><span style="font-weight: 400;">Instead, partners need to be understanding of each other’s individual needs and allow each other their space during this difficult time. </span></p> <p><span style="font-weight: 400;">There is also an important need for a dedicated support system during a separation, to help both parties reach a resolution. </span></p> <p><span style="font-weight: 400;">There are studies that show how showing kindness and selflessness can enrich your life and the life of those around you, which can be a valuable tool in a separation. </span></p> <p><span style="font-weight: 400;">Kirsty Salvestro’s book </span><em><span style="font-weight: 400;">What Are We Fighting For? A Peaceful Pathway for Separating Couples</span></em><span style="font-weight: 400;"> is available now. </span></p> <p><em><span style="font-weight: 400;">Image credit: Shutterstock</span></em></p>

Money & Banking

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How can you find out what your car is worth?

<p>When it’s time to upgrade our car, we need to find out what our current vehicle is worth. But what’s the best way to do that?</p> <p>Whether we like it or not, our cars are always depreciating. From the moment we sign the papers and hand over our money for a new car, the dollar value of that vehicle goes down with time.</p> <p>So, if you feel it’s time to upgrade your car, how do you find out its market value?</p> <p><strong>The easiest way to do a car market value check is through car websites with a car market value calculator. You could also browse car sales listings to see how much other people are selling or willing to buy the same model for. </strong></p> <p>Whatever method you use, it’s essential to understand that your <strong>car’s market value</strong> is only a rough indicator. Your car has its own amount of damage – you may have a slight ding here or there – and it also depends how old your car is and how well you’ve serviced it over the years.</p> <p>So, if you’re planning to sell your car online, there’s no guarantee you’ll get the same dollar amount that other cars of the same model and year have been advertised for.</p> <p>Here’s a bit more information on how to get as close as possible to what is the value of your car and what price you should advertise it for.</p> <p><strong>Using Google is a useful method</strong></p> <p>These days, all you have to do is Google the term ‘What is my car market value?’ to find a long list of helpful websites. From there, find one that has a <strong>car market value calculator</strong>. These calculators are databases which help you find the information you need based on the car brand, model, and manufacturing year.</p> <p>One well-known website which has been around for a long time is Redbook and they do car valuations for a small amount. They ask for a lot of detail including if you’ve had any accidents, how many kilometres the car’s done etc.</p> <p>Again, remember when you get these valuations, they are still mainly indicators. But these give you a good idea of the price range your car should be in.</p> <p><strong>Also check your car sales listings</strong></p> <p>Another way to get an understanding of your car's market value is to check car sales listings. As you might already know, there are plenty of websites in Australia and beyond which allow people to put their cars up for sale.</p> <p>Using this method, you will need to do some 'detective work' to check your car market value. So, browse these car sales websites and look for any cars which match your vehicle’s brand, model, and manufacturing year. See if you can find one that’s close to the same condition as yours as well.</p> <p>From there, find out how much the sellers are putting their cars up for. Firstly, those prices act as valuable indicators of your car’s market value. But more importantly, it’ll also show you how much the market is willing to pay for a vehicle like yours.</p> <p>With this kind of approach, your <strong>car market value check</strong> isn’t just about finding out indicators. It’s also helpful because it gives you a clear sense of how much money you could realistically get from potential buyers.</p> <p><strong>Finally, good luck!</strong></p> <p>Working out what your car is worth is not easy and it is always open to different opinions. For example, in one state of Australia a certain car could be worth more than in another state.</p> <p>But if you follow the steps we've talked about, you'll get a very good idea of what you can expect to sell your car for. The next step is to list it on an online car sales site and see if you can sell it for as close as possible to the price you've valued it at.</p> <p>There's always and element of luck to this part because it depends if you find a buyer who really wants your car - the brand, the model etc. So, good luck!</p> <p><em>Photo: Getty Images</em></p> <p><em> </em></p>

Money & Banking

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Queen under fire over abysmal job salary

<p>The royal family have come under fire after a job advertisement has been described as "disastrously" out of touch. </p> <p>The latest vacancy at Buckingham Palace is for the position of Personnel Security Adviser for the royal family, which requires applicants to have <span>a degree in security, experience and the confidence to "deliver vital work".</span></p> <p>The ad tells applications of the job that they will <span>"make important decisions every day" and will be "helping to protect a world-famous institution."</span></p> <p>The position oversees tasks at Buckingham <span>Palace, Windsor Castle, Sandringham and Balmoral, with the potential applicant working five days a week.</span></p> <p><span>Despite the importance and high-ranking position of this job, the pay rate has been labelled a "meagre" rate of only $24 an hour.</span></p> <p><span>The salary amounts to roughly $48,000 per year, and has been blasted by </span>royal critics who have described the rate as next to nothing compared to <span>the royal family's "incomprehensible" wealth.</span></p> <p>A reporter for The Mirror said the Queen's wealth is <span>"double-edged sword" and said the advertisement was "disastrous", considering the family costs the UK public approximately $128 million a year.</span></p> <p><span>"Everyone knows the monarchy brings money into the country — but is it an excuse to offer such low pay in comparison to their own wealth?" he said.</span></p> <p><span>The pitiful wage has coped global </span>scrutiny, given the opulent and exclusive lifestyle ledgy the royal family, particularly in terms of weddings.</p> <p>Reports show that the cost of Prince Harry and Meghan Markle's wedding expenses was around $61million, while the wedding of Prince William and Kate Middleton cost roughly $48million. </p> <p>These royal events also feed money back into the country's economy through global tourism opportunities, with reports of Harry and Meghan's wedding made the UK over $1.8billion in tourism revenue. </p> <p><em>Image credit: Getty Images</em></p>

Money & Banking

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Banking tips we can all use

<p>We all use banks most of the time and knowing how to spend or save your money wisely can be tough. While you may be able to do your banking with just a few taps on your phone, managing money well is much more complicated. Here are a few tips to help you get started.</p> <p><strong>1. Budget using an app or a website to help</strong></p> <p>Tracking how much you spend weekly and monthly shows you where your money goes and how you can save more. You can use a budgeting app to tracks your cash automatically. Choose an app that lets you spend as little or as much time on budgeting as you want. From there, you can identify your total fixed expenses, such as rent and car payments, and more flexible costs such as shopping and dining out. You can use the <a href="mailto:https://moneysmart.gov.au/budgeting/how-to-do-a-budget">Moneysmart website</a> which has a lot of free advice as well.</p> <p><strong>2. Set up automatic transfers to your savings</strong></p> <p>When you have a rough idea of how much you can save regularly, create a recurring transfer from your checking account to a savings account. By making savings automatic, you can get used to spending ‘below your means’ and never have to worry about remembering to transfer. It’s also good to set up automatic transfers to savings accounts which reward you for a monthly increase by a higher interest rate, so set this up.</p> <p><strong>3. Avoid overdrawing your accounts</strong></p> <p>Before you pay rent or spend any other big chunk of money, take a look at your account’s available balance. This can prevent you from spending more than you have in your account because if you overdraw, you may be charged a fee. If you get a number of these, they all add up.</p> <p><strong>4. Establish credit</strong></p> <p>Loans and credit cards can help you build good credit — as long as you stay current on monthly payments and don’t overuse them. Your credit score, which shows how responsible you are with credit, is an important factor which lenders check before approving car loans and mortgages. The better your score, the lower the interest rate you may be eligible for.</p> <p><strong>5. Repay debts strategically</strong></p> <p>If you have debts from multiple credit cards and student loans, pay the minimum on each and then contribute more to your higher-interest debts. By making these a priority, you can reduce how much interest you’re paying faster than by treating all debts the same.</p> <p><strong>6. Start an emergency fund</strong></p> <p>Being financially prepared in case of health emergencies or any other financial strains can save you from going into debt. Have a separate savings account just for this purpose — don’t mix it up with your regular savings. A good rule of thumb is to save enough to pay three to six months’ worth of living expenses.</p> <p><strong>7. Set long-term savings goals</strong></p> <p>Consider opting to pay a higher rate to your superannuation on a long-term basis as this will help you out when you retire. The earlier you start doing this the better.</p> <p><em>Photo: Shutterstock</em></p>

Money & Banking

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Slice of Charles and Di's wedding cake goes under the hammer

<p><span>Prince Charles and Lady Diana Spencer wed in a globally broadcasted wedding 40 years ago.</span><br /><br /><span>On July 29, 1981, the chosen guests of their special day were treated to an extravagant slice from a five-tier wedding fruit cake, which was made by Dave Avery, head baker with the Royal Navy.</span><br /><br /><span>Along with their wedding cake, there were 22 others baked and sent out - including one that was made for Clarence House staff to enjoy.</span><br /><img style="width: 500px; height: 281.25px;" src="https://oversixtydev.blob.core.windows.net/media/7842754/princess-diana-charles-wedding-cake-2.jpg" alt="" data-udi="umb://media/17b9450a439048149d03d4ff800619d3" /></p> <p><em>Image: Supplied</em></p> <p><span>One leftover slice of cake is going under the hammer in the UK and is expected to sell for £500 ($950).</span><br /><br /><span>The piece of cake, weighing in at 800g was given to Moyra Smith, a member of the Queen Mother's household at Clarence House.</span><br /><br /><span>She used glad wrap to preserve the topping.</span><br /><br /><span>Mrs Smith kept the piece of history wrapped and stored in a floral cake tin.</span><br /><br /><span>She topped it with a handwritten label reminding anyone to "handle with care".</span></p> <p><img style="width: 500px; height: 281.25px;" src="https://oversixtydev.blob.core.windows.net/media/7842753/princess-diana-charles-wedding-cake-1.jpg" alt="" data-udi="umb://media/7b08a293936241f8a17b18c5496c1096" /><br /><br /><span>The label was signed by Mrs Smith and dated 27 July, 1981.</span><br /><br /><span>Her family sold the piece of cake to a collector in 2008 but it has now found its way back onto the auction block, on their 40th wedding anniversary.</span><br /><br /><span>The cake features white icing, and a 3D sugared image of the royal coat-of-arms coloured in gold, red, blue, and silver.</span><br /><br /><span>It also has a small silver horseshoe and leaf spray..</span></p> <p><img style="width: 500px; height: 281.25px;" src="https://oversixtydev.blob.core.windows.net/media/7842756/princess-diana-charles-wedding-cake.jpg" alt="" data-udi="umb://media/c7977aa5e32846608bf7e531b8920038" /><br /><br /><span>"It appears to be in exactly the same good condition, but we advise against eating it," Chris Albury from Dominic Winter Auctioneers informed the BBC.</span><br /><br /><span>Mr Albury expects the listing to get between £300 and £500 ($570-$950)</span><br /><br /><span>It also includes an order of service, ceremonial details and a royal wedding breakfast programme.</span><br /><br /><span>The auction will take place on August 11.</span></p> <p><em>Images: Getty Images</em></p>

Money & Banking

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New money-saving tech seniors are tapping into

<p>With the effects of COVID hitting the wallet, rising electricity, healthcare and housing costs nearly 9 out of 10 Australians say they are feeling cost of living pressures, or ‘bill burden’.</p> <p>ABC data shows living costs for age pensioner households recorded the largest rise of all household types due to the highest expenditure for automotive fuel and pharmaceutical products. </p> <p>Thrifty Nala Perkins, 75, is one pensioner who found she is able to keep rising expenses under control by tapping into easy money-saving tech platforms that are predominantly used by young Australians.</p> <p>“I save around $4000 a year on groceries and shopping bills by using shopping apps such as Trolley Saver, which compares specials across the major supermarket chains as well as Half Price, which tracks everything reduced by 50% in Coles and Woolies,” says Ms Perkins.</p> <p>“There are so many comparison sites to make sure I can get the best price for my electricity bills and I save on petrol, with Motormouth,” she adds.</p> <p>“Once you get the hang of it, these programs are really easy to use.”</p> <p>“I also make use of special discounts offered on email and always look for the 30% off deals.”</p> <p>“The supermarket receipts can also get my fuel bill down.”</p> <p>“I also make $700 a month by renting out my car to neighbours when I'm not using it, on Car Next Door.”</p> <p>“I have to watch the dollars so you could say I’m thrifty.”</p> <p>“I’m good at getting discounts with my groceries and fuel, and I’m a stickler for paying my credit cards off every month.”</p> <p><strong>Tech savvy pensioner Nala Perkins shares her top 6 Money Saving platforms:</strong></p> <ul> <li>Track specials across all the supermarkets with <a href="http://www.scan2list.com.au/">Scan2List</a>, <a href="https://www.ourgroceries.com/overview">OurGroceries</a> and <a href="https://m.trolleytracker.com.au">Trolley Tracker.</a></li> <li>Find discounted prescription medications and health products through <a href="https://www.pharmacyonline.com.au">Pharmacy Online</a>.</li> <li>Most cars sit idle 96% of the time, <a href="https://www.carnextdoor.com.au/how-to-list-your-car">Car Next Door</a> safely connects neighbours to share cars.</li> <li>Websites such as<a href="https://motormouth.com.au/mobile-app.html"> MotorMouth</a> reveal the cheapest petrol around the country.</li> <li><a href="https://www.getreminded.com/">GetReminded</a> keeps track of when to shop around for household services due to expire. </li> <li>Easy to do all Centrelink business on the mobile app <a href="https://play.google.com/store/apps/details?id=au.gov.dhs.centrelinkexpressplus&amp;hl=en_AU&amp;gl=US">Express Plus</a>.</li> </ul>

Money & Banking

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"WOW!" Beach handball team responds to Pink's amazing offer

<p><span style="font-weight: 400;">Popstar Pink has offered to pay the fines issued to the Norwegian beach handball team for wearing shorts instead of bikini bottoms during a match.</span></p> <p><span style="font-weight: 400;">After the match between Norway and Spain last weekend, the European Handball Federal (EHF) handed the Norwegians’ a $240 fine per player for “improper clothing”.</span></p> <p><span style="font-weight: 400;">The organisation said the shorts violated the athlete uniform regulations.</span></p> <p><span style="font-weight: 400;">The fines, totalling $2410, caused widespread backlash with athletes and celebrities taking to social media to criticise the decision, including Pink.</span></p> <p><span style="font-weight: 400;">The popstar even said she was “happy to pay” the fines for the team, and praised them for protesting the “very sexist” uniform rules.</span></p> <blockquote class="twitter-tweet"> <p dir="ltr">I’m VERY proud of the Norwegian female beach handball team FOR PROTESTING THE VERY SEXIST RULES ABOUT THEIR “uniform”. The European handball federation SHOULD BE FINED FOR SEXISM. Good on ya, ladies. I’ll be happy to pay your fines for you. Keep it up.</p> — P!nk (@Pink) <a href="https://twitter.com/Pink/status/1419127641068630016?ref_src=twsrc%5Etfw">July 25, 2021</a></blockquote> <p><span style="font-weight: 400;">In response, the team shared the tweet on their Instagram Stories and thanked Pink for her support.</span></p> <p><span style="font-weight: 400;">“WOW! Thank you so much for the support,” the team wrote.</span></p> <p><span style="font-weight: 400;">The ruling also drew criticism from Norway officials, who argue that the womens’ uniform requirements were not practical.</span></p> <p><span style="font-weight: 400;">“In 2021, it shouldn’t even be an issue,” Norwegian Volleyball Federation president Eirik Sordahl told national news agency NTB.</span></p> <p><span style="font-weight: 400;">While beach volleyball players have not been required to wear bikinis since 2012, rules from the International Handball Federation (IHF) state that “female athletes must wear bikini bottoms” which have a “close fit”, be “cut on an upward angle towards the top of the leg”, and a side depth of 10 centimetres or less.</span></p> <p><span style="font-weight: 400;">Male players, on the other hand, are allowed to wear shorts.</span></p> <blockquote class="twitter-tweet"> <p dir="ltr">Here are the rules for the men’s vs. women’s uniforms. Ridiculously <a href="https://t.co/8wDXG22sTd">pic.twitter.com/8wDXG22sTd</a></p> — KT SLP (@MrsThornSLP) <a href="https://twitter.com/MrsThornSLP/status/1419246549763244040?ref_src=twsrc%5Etfw">July 25, 2021</a></blockquote> <p><span style="font-weight: 400;">Norway asked the EHF for permission to play in shorts ahead of the tournament, but were told that rule violations would be punishable by fines.</span></p> <p><span style="font-weight: 400;">The team complied until their last match.</span></p> <p><span style="font-weight: 400;">“The EHF is committed to bring this topic forward in the interest of its member federations, however it must also be said that a change of the rules can only happen at IHF level,” EHF spokesperson Andrew Barringer said in an email.</span></p> <p><span style="font-weight: 400;">Clothing has been an issue in beach sports for a long time, with some women players finding bikinis degrading or difficult to play in.</span></p> <p><span style="font-weight: 400;">The Norwegian Handball Association (NHF) had been pushing for changes to the uniform regulations and planned to protest with the thigh-length tights the team wore.</span></p> <p><span style="font-weight: 400;">Norway’s team captain told Norwegian broadcaster NRK that the team felt forced to wear bikini bottoms.</span></p> <p><span style="font-weight: 400;">“So then we are forced to play with panties. It is so embarrassing,” she said.</span></p> <p><span style="font-weight: 400;">“First we were told about a fine of 50 euros ($AUD 80) per person per match, something that would have landed us a fine of about 4,850 euros ($AUD 7760). We accepted that. However, just before the match we were told that we will be disqualified if we play like that. So we had to go with bikini bottoms.”</span></p> <p><em><span style="font-weight: 400;">Image: Instagram</span></em></p>

Money & Banking

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Prince Harry gets the royal treatment with $10k VIP service

<p><span>Prince Harry is reportedly using an exclusive $10.5k VIP service which allows you all the special privileges while travelling at airports.</span><br /><br /><span>As he makes his way between London and Los Angeles, it’s no wonder why he splurged for the package during his latest trip to the UK in July.</span><br /><br /><span>Harry flew from the United States to England to attend the unveiling of a statue of his mother Diana, Princess of Wales, at Kensington Palace.</span><br /><br /><span>The royal was in England for just under a week, before spending five days in quarantine at Frogmore Cottage.</span><br /><br /><span>He also attended a charity event and the statue unveiling on July 1.</span><br /><br /><span>Prince Harry was quick to return to his new home in Los Angeles however, to be with his wife and their two children, Archie and Lilibet Diana.</span><br /><br /><span>Harry has paid for his experience through airports to be much more smoother than regular passengers after he used The Private Suite, described as "the most VIP way through the airport".</span><br /><br /><span>This means the Duke is able to exit the plane before other passengers.</span><br /><br /><span>He was reportedly then picked in an SUV and taken to a private terminal to collect luggage and move through passport control all in isolation.</span><br /><br /><span>Members pay $6000 a year to join The Private Suite and another $4600 per trip.</span><br /><br /><span>He also chose a commercial flight for both trips when he came to the UK for the funeral of his grandfather Prince Philip in April.</span><br /><br /><span>The Duke of Sussex was forced to defend his wife Meghan Markle however, after it was revealed she used a private plane multiple times around the same time as he launched a global initiative to promote sustainable travel.</span></p> <p><img style="width: 500px; height: 281.25px;" src="https://oversixtydev.blob.core.windows.net/media/7842550/daily-1.jpg" alt="" data-udi="umb://media/cf738d2780e746bf9c12c29380bc3909" /><br /><br /><span>Harry and Meghan were heavily criticised for using four private jets in just 11 days during the British summer.</span><br /><br /><span>Speaking at the launch of <em>Travalyst</em> in the Netherlands, Harry revealed he flies commercially "99 per cent of the time".</span><br /><br /><span>He went on to state he chooses to travel with Meghan and baby Archie on private jets in "unique" situations in order to keep his family "safe".</span></p>

Money & Banking

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Four ways to snap up a bargain online

<p><span style="font-weight: 400;">Picking up a bargain buy is always an enjoyable moment, whether it’s in a physical store or while shopping online.</span></p> <p><span style="font-weight: 400;">Here are four tips to help you become a savvy online shopper and save some cash.</span></p> <p><strong>1. Take advantage of the algorithm</strong></p> <p><span style="font-weight: 400;">Though brands often target customers with ads relating to their most recent searches to tempt them into making a purchase, you can use this to your advantage.</span></p> <p><span style="font-weight: 400;">If you’re looking for a particular product, search for it and monitor how the price changes in ads so you can nab it when the time (and price) is right.</span></p> <p><strong>2. Look for second-hand first</strong></p> <p><span style="font-weight: 400;">Online shopping makes it easier to find pre-loved items that match what you’re looking for - without a hefty price tag.</span></p> <p><span style="font-weight: 400;">If you have an idea of the item you want - whether that’s a particular garment, device, or model - search second-hand online sales platforms such as Facebook Marketplace, Depop, or Gumtree to ensure you aren’t missing out on a deal.</span></p> <p><span style="font-weight: 400;">When buying second-hand, always check the condition and keep any receipts.</span></p> <p><strong>3. Compare and save</strong></p> <p><span style="font-weight: 400;">Just as online shopping makes it easier to find pre-loved items, comparing prices across websites is just as straightforward. </span></p> <p><span style="font-weight: 400;">As well as comparing the price of a garment or device between retailers, search engines such as </span><a rel="noopener" href="https://compareclub.com.au/" target="_blank"><span style="font-weight: 400;">Compare Club</span></a><span style="font-weight: 400;">, </span><a rel="noopener" href="https://www.paylessdeal.com.au/" target="_blank"><span style="font-weight: 400;">PayLessDeal</span></a><span style="font-weight: 400;">, and </span><a rel="noopener" href="http://www.shopmania.com.au/" target="_blank"><span style="font-weight: 400;">ShopMania</span></a><span style="font-weight: 400;"> can help you find the cheapest version in seconds.</span></p> <p><strong>4. Look out for e-coupons</strong></p> <p><span style="font-weight: 400;">When you reach the virtual checkout, adding in a discount code could help you nab free shipping or a general discount.</span></p> <p><span style="font-weight: 400;">Many of these codes can be found on a brand’s social media accounts or website, or promoted by influencers on their individual social media accounts.</span></p>

Money & Banking

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Former Kmart employee shares store secrets

<p>A former Kmart employee is sharing the company's biggest secrets and revealing the hacks that every shopper should know.</p> <p>The video has gone viral with more than 22,000 views.</p> <div class="embed-responsive embed-responsive-16by9"><iframe class="embed-responsive-item" src="https://www.youtube.com/embed/H1EcAGvq4q8"></iframe></div> <p>She also explained why checking barcodes is VERY important while shopping at Kmart.</p> <p>"The last digit on the barcode changes after every new season," she said.</p> <p>"So if there are two toasters that look exactly the same and the last digit of one barcode is eight and the other is nine, the one with the eight should be cheaper.</p> <p>"It has to be the same model, they just tweak the product and the price I found doesn’t come up straight away on the system."</p> <p>She also revealed the best time to go shopping, which is between 8 am and 5 pm.</p> <p>“This is when the full-time and very experienced staff members are working, so they are more able to answer your questions," she explained.</p> <p>The best time for bargain hunting is right after Christmas and Easter.</p> <p>"On Boxing Day there’s a whole section that drops down to between five cents and $5 but it is usually wiped out on Boxing Day by customers so it’s good to come in early.</p> <p>"In between campaign periods like “Back To School” they would mark things down because it’s not as busy but a lot of the times, quite randomly, they will slash the prices of a bulk number of books, clothes or appliances.</p> <p>"It’s usually when a newer model/garment has been updated, fixed or isn’t selling.</p> <p>"The price will drop down drastically but the item doesn’t really change by much."</p>

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Elizabeth Hurley speaks out against her son’s grandfather

<p><span style="font-weight: 400;">Elizabeth Hurley has spoken out against her son Damian’s paternal grandfather, releasing a statement criticising the decision to prevent the 19-year-old from inheriting an expected $330 million AUD (or $354 million NZD) from his family trust.</span></p> <p><span style="font-weight: 400;">Damian’s father, Steve Bing, died by suicide in 2020 at 55. He and Hurley dated between 2001 and 2002.</span></p> <p><span style="font-weight: 400;">Steve Bing’s father and Damian’s paternal grandfather, multimillionaire Dr Peter Bing, made an appeal against Damian and his half-sister, Kira Kerkorian, to receive a share of Steve Bing’s fortune as they were born out of wedlock.</span></p> <p><span style="font-weight: 400;">In a statement made to </span><em><span style="font-weight: 400;">The Daily Mail</span></em><span style="font-weight: 400;"> over the weekend, Hurley said she was hurt by Dr Bing’s decision, especially after Steve had won a court battle overturning Dr Bing’s attempt to exclude Damian and Kira from the family trust before his death.</span></p> <p><span style="font-weight: 400;">“When Stephen took his own life, he died thinking his children were going to be taken care of,” Hurley said in the statement.</span></p> <p><span style="font-weight: 400;">“Stephen fought very hard in his last year to have his children recognised and repeatedly told me how incredibly important it was to him.</span></p> <p><span style="font-weight: 400;">“What Stephen wanted has not been callously reversed. I know Stephen would have been devastated.”</span></p> <p><span style="font-weight: 400;">Although Damian reportedly didn’t have a relationship with Steve growing up, Steve called Damian and expressed hopes of building a relationship with him on the then 18-year-old’s birthday, according to Hurley.</span></p> <p><span style="font-weight: 400;">On the anniversary of his father’s death, Damian shared a tribute on Instagram, saying the “last year has been bloody hard”.</span></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/CQbk0n3l9kA/?utm_source=ig_embed&amp;utm_campaign=loading" data-instgrm-version="13"> <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="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 style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: normal; line-height: 17px; text-decoration: none;" rel="noopener" href="https://www.instagram.com/p/CQbk0n3l9kA/?utm_source=ig_embed&amp;utm_campaign=loading" target="_blank">A post shared by Damian Hurley (@damianhurley1)</a></p> </div> </blockquote> <p><span style="font-weight: 400;">“He was happy beyond belief that the trial verdict ruled that Damian was to be treated like his sister’s children as far as the trust was concerned,” the </span><span style="font-weight: 400;">Austin Powers</span><span style="font-weight: 400;"> star continued in her statement.</span></p> <p><span style="font-weight: 400;">“I am just relieved that Stephen will never know that Damian’s relatives - Stephen’s father and the family of his sister Mary - were ultimately successful in their appeal against the original trial verdict.”</span></p> <p><span style="font-weight: 400;">Kira’s mother, former professional tennis player Lisa Bonder, also contributed to the statement.</span></p> <p><span style="font-weight: 400;">“As a mum, I wonder why on earth this had to happen. Why make two innocent kids into victims?” Bonder said.</span></p> <p><span style="font-weight: 400;">Following the court’s decision, Steve’s fortune will be split between his sister Mary’s two children, Anton Ellis and Lucy Ellis.</span></p> <p><span style="font-weight: 400;">Steve, who founded Shangri-La Entertainment, inherited his fortune when he was 18 from his grandfather, who was a real-estate mogul.</span></p> <p><em><span style="font-weight: 400;">Image: Elizabeth Hurley / Instagram</span></em></p>

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NZ man generously leaves behind millions to charity

<div class="post_body_wrapper"> <div class="post-body-container"> <div class="post_body"> <div class="body_text redactor-styles redactor-in"> <p>Former American turned Queenstown resident Yevrah Ornstein sadly died of cancer last week but is leaving millions of dollars to charity.</p> <p>He has stipulated the sale of his Lakeside Estates Solar home and other investments to go to four international charities along with NZ's KidsCan and Save The Children NZ.</p> <p>Ornstein's neighbour Peter Thodey suggested that he set up a trust before he passed.</p> <p>“We were talking one day about what he wanted to do with his estate and I said, ‘why not set up a trust?’ ”</p> <p>Ornstein made notes while he was in the hospital about the charities he wanted to help, which include US-based charities Nature Resources Defence Council and Rocky Mountain Institute, Animal Welfare Institute and People for the Ethical Treatment of Animals (PETA).</p> <p>“Alongside my passion [for] environmental issues resided my always-present reverence for education — be it educating people about the climate crisis along with protecting that we were endowed with by virtue of being stewards of the natural environment.</p> <p>“The charities I have chosen are doing an excellent job protecting and serving children as well as nature.”</p> <p>Friend Kris Lukaszewicz says he was “quite a generous man — I know he‘s been supporting a number of charities throughout his life”.</p> <p><em>Photo credits: Facebook</em></p> </div> </div> </div> </div>

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