Average Aussie only 109 days from financial ruin

Don't know about all this, but I hope I'm only 109 days away from my next international holiday haha

 

Yeah that's what I meant to say, median. In this case way lower than the average (/mean).

 

Rents would get us by indefinitely provided we only buy essentials.

 

S

Since when have international flights not been essential?

 

Our next international holiday (to Vietnam, Cambodia and Laos) is in 91 days time.

Fly out tonight in 13 weeks time.

 

Sorry mate...he is taking a sickie...he can't respond as he is waiting on line to talk to Woolies MD.

 

Counting down bud!!!

 

that probably is the majority of Australians

 

We have income streams to support our lifestyle, so all good here.
Structured everything so that when we are gone our children continue to benefit from this. I am also well aware 50% end up in divorce, so hopefully we have got it right.

 

Two main takeaways I got from the article, besides the 109 days.

20 per cent of Australians declared no savings at all - This should be really scary for 1 in five of us that they have zero money to live off, I would also assume these people didn't have insurance incase of bad health etc.

18.6 per cent gender gap in salaries - Remind me where on seek it has woman's salary vs male salary? Yes males do earn more than women on average, however are they doing the same job with same results and same skill?

If you want to compare where gender equality is not correct lets compare the Australian Open as the figures are public and easy to find (Australian Open Tennis 2016 Prize Money (Breakdown))

Both M/F both receive the same all the way down (1st both M/F get 3.85M each)... Great however the males had to play for min 3 sets compared to women min 2 sets (so actually females get paid 50% more). The women's final went for 39/33/56 mins total 128 mins compared to males which went for 30/80/63 or total 173 (35% more).

 

The tennis example is pretty lame.

Better studies out there to demonstrate the point.

Look at the studies that show graduates going into the same job. Women on average will get a grand or so less per year. So women do get paid less than men because they are women. But not to a great extent.

Of course down the track when a woman had a kid and misses out on work for 5 years, her career will be way behind the men who started with her.

Plus men choose better paying jobs like engineering. Whereas women choose jobs such as social work, etc...

Lots of extraneous variables. Which is why I like the studies straight from uni.

 

Just going to add re: tennis, most tennis tournaments on the female tour pay substantially less than equivalent male ones. In general its only the grand slams where women get paid equal or near men. So its much harder to make a good living for the average professional female tennis player. Remember the grand slams only account for 8 weeks of the year.

 

from the stats I've read the discrepancy is between 10-15% in terms of median prize winnings when comparing men vs women, a discrepancy for sure but not as vast as it is made out to be.

 

Worldwide women tend to live in poverty whereas men hold most of the world's wealth.

The work that women predominantly do (nursing, teaching, child care etc.) is not paid as highly as the work that men predominantly do. Unfortunately, it seems men do not value the work that women do and it is viewed as not as important as the work that men do. Even though women actually work more hours than men in their lives.

'Women make up 70% of the world's working hours and earn only 10% of the world's income and half of what men earn'

Is empowering women the answer to ending poverty in the developing world?


Women tend to choose careers that support their roles as mothers (e.g. teaching work is usually during school hours so they can work while the kids are at school and get school holidays) plus women are not valued for their roles as mothers (unpaid by society).

Yes, there will always be slight variables, but for many women, this is the reality.

 

Perhaps the women could start playing 5 sets to raise some extra cash

 

And/or they drop mens to 3. Or they all play best of 3 sets and you need to win 8 games to claim a set. Reason for saying this is that there's a matter of hours and scheduling available. There will be 127 matches in both mens and womens divisions, they need to fit that all within a 2 week timeframe... plus the doubles, mens, mixed, womens, and junior divisions...

Sanj, have you read this? (Note, the ATP tour is the top mens tour while the WTA is the top womens tour)
Aguanomics: Income inequality in tennis: a startling problem


I also know from being a long time reader of Australian Tennis magazine the prizemoney on offer on the women's tour has historically been a lot lower than for the men. That's why the Sydney International tournament would attract the best women but only the average (say ranking of 50) men - the Sydney International pays equal prizemoney for the guys and gals but it was only "good" prizemoney for the ladies when you look at their alternatives.
The money the top men could make elsewhere was a lot more and I don't blame them for choosing to play elsewhere where they could make more lucrative prizemoney. Plus there's exhibition matches that players (generally male) could play in places like Dubai. Lots of money for 1 game of tennis, and it has no effect on their world rankings win or lose.

 

Good position to be in

 

Perhaps that is more to do with the demand to watch male sport stars then the female, so there is more money going to the males due to better marketing opportunity.

I couldn't find the Tennis stats but lets look at Soccer world cup.

2014 Male - TV viewership - 3.2billion viewers but only 2.2B watch more than 20 consectutive mintues (1B for final) - $35M for 1st
2015 Female - TV viewership - 750m viewers but only 327M watch more than 20 consecutive
minutes (60.7M for final) - $2M for 1st

Sources
2014 FIFA World Cup™ reached 3.2 billion viewers, one billion watched final
Record-breaking FIFA Women’s World Cup tops 750 million TV viewers

So for this females only got paid 5% of the prize money however they had 23.4% of the total viewership (14.8% for 20+ mins) but they only had 6% of the same viewers compared to the finals.

So you can argue any way either that females get paid the same, more or less then their male counterparts.