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Music and dementia: researchers are still making discoveries about how songs can help sufferers

<div class="theconversation-article-body"><em><a href="https://theconversation.com/profiles/rebecca-atkinson-1288605">Rebecca Atkinson</a>, <a href="https://theconversation.com/institutions/anglia-ruskin-university-1887">Anglia Ruskin University</a> and <a href="https://theconversation.com/profiles/ming-hung-hsu-2215063">Ming-Hung Hsu</a>, <a href="https://theconversation.com/institutions/anglia-ruskin-university-1887">Anglia Ruskin University</a></em></p> <p>Music is woven into the fabric of our everyday lives. Whether it’s lifting our spirits, pushing us to run faster or soothing us to sleep, we can all <a href="https://www.frontiersin.org/journals/psychology/articles/10.3389/fpsyg.2021.713818/full">recognise its power</a>. So it’s no wonder it is increasingly being used in medical treatment.</p> <p>As well as proving very useful in <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3863265/">cancer treatment</a>, managing <a href="https://www.sciencedirect.com/science/article/pii/S1526590022000153">chronic pain</a> and even helping the brain <a href="https://www.frontiersin.org/articles/10.3389/fnhum.2014.00245/full">recover after a stroke</a>, researchers have also been making great strides in using music to help patients with dementia.</p> <p>It reduces patients’ <a href="https://www.cochranelibrary.com/cdsr/doi/10.1002/14651858.CD003477/full">anxiety and depression</a>, and <a href="https://www.thelancet.com/journals/eclinm/article/PIIS2589-5370(23)00401-7/fulltext">improves wellbeing</a> both for them and their carers <a href="https://www.cambridge.org/core/journals/the-british-journal-of-psychiatry/article/individual-music-therapy-for-depression-randomised-controlled-trial/A1CD72904929CECCB956F4F3B09605AF">by enhancing</a> everyone’s ability to adapt and cope with adversity or stress.</p> <p><a href="https://www.bamt.org">Music therapy</a> in the form of playing, singing or listening to music can also have a <a href="https://journals.sagepub.com/doi/abs/10.1177/1362361309105660">positive effect</a> on cognitive function – particularly for <a href="https://link.springer.com/article/10.1186/1472-6882-10-39">older adults</a> either with dementia or memory issues.</p> <p>So why does music appear to have such a powerful effect for people with dementia?</p> <h2>Music and the brain</h2> <p>About a decade ago, <a href="https://www.sciencedirect.com/science/article/abs/pii/S1053811911013000">researchers discovered that</a> when people listened to music, multiple areas of the brain were involved in processing it. These included the limbic (which processes emotions and memory), cognitive (involved with perception, learning and reaction) and motor areas (responsible for voluntary movement). This challenged preconceptions that music was processed more narrowly in the brain – and helped explain why it has such a unique neurological impact.</p> <p>Not only that, research has shown that music might help <a href="https://www.sciencedirect.com/science/article/abs/pii/S0306987708002880">regenerate the brain</a> and its connections. Many <a href="https://www.nhs.uk/conditions/dementia/about-dementia/causes/">causes of dementia</a> centre around cell death in the brain, raising the possibility that music could help people with dementia by mending or strengthening damaged neural connections and cells.</p> <p>It’s not just any music that has a regenerative effect on the brain, though. <a href="https://www.frontiersin.org/articles/10.3389/fnhum.2016.00103/full">Familiar and favourite music</a> has been shown to have the biggest impact on the way we feel, and is closely linked with memory and emotions. This is because listening to our favourite songs <a href="https://www.nature.com/articles/nn.2726">releases feel-good hormones</a> that give us a sense of pleasure. Curated music playlists of favourite music could be the key in helping us deal with the <a href="https://journals.sagepub.com/doi/full/10.1177/10298649211030318">stress of everyday life</a>.</p> <p>This is relevant to Alzheimer’s and other forms of dementia because researchers have discovered that parts of the brain linked with <a href="https://academic.oup.com/brain/article/138/8/2438/330016">musical memories</a> are less affected by these conditions than other areas of the brain. This explains why memories and experiences that are linked to <a href="https://link.springer.com/article/10.14283/jpad.2018.19">favourite music</a> are often preserved for people with such conditions.</p> <p>Listening to music can also <a href="https://pubmed.ncbi.nlm.nih.gov/34346261/">help manage</a> their experiences of distress, agitation and “<a href="https://www.alzheimers.org.uk/about-dementia/symptoms-and-diagnosis/symptoms/sundowning">sundowning</a>” – where a person is more confused in the afternoon and evening.</p> <p>In a <a href="https://www.sciencedirect.com/science/article/pii/S0197457224002209?utm_campaign=STMJ_219742_AUTH_SERV_PA&amp;utm_medium=email&amp;utm_acid=224973760&amp;SIS_ID=&amp;dgcid=STMJ_219742_AUTH_SERV_PA&amp;CMX_ID=&amp;utm_in=DM500444&amp;utm_source=AC_">small study</a> conducted by us and our colleagues at the Cambridge Institute for Music Therapy Research, we showed just how great of an effect listening to music can have for people with dementia. We found that when people with dementia repeatedly listened to their favourite music, their heart rate and movements changed in direct response.</p> <p>This showed that people’s physical responses were affected by musical features like rhythm and arrangement. Their heart rate also changed when they sang along to music, or when they began reminiscing about old memories or stories while listening to a song or thinking about the music. These changes are important because they show how music affects movement, emotions and memory recall.</p> <p>Studies have also shown that during and after listening to music, people with dementia <a href="https://www.mdpi.com/2076-3425/13/7/1103">experienced less agitation</a>, aggression and anxiety, and their general mood was improved. They even needed less medication when they had regular music sessions.</p> <p>Other researchers have even begun testing the effects of <a href="https://onlinelibrary.wiley.com/doi/abs/10.1002/gps.4721?casa_token=VufeKQP7aNsAAAAA%3AMSOgiwUQYKqmmrLsUFv9glmSnc5BMxoqeMmmt3HX4BJX2Fs2UKeXjnN2850o1Umz0j1NvmrpQ3W3Pw">music training programmes</a> to support cognition for people with dementia. Results have been promising so far – with adults in the study showing improved executive functioning (problem solving, emotion regulation and attention) compared to those who took part in just physical exercise.</p> <p>So, music is likely to continue to be a useful medical treatment for people with dementia. But based on what we know so far, it’s important that it comes from the patient’s own music collection – and is used alongside other management techniques such as using drugs that can slow the progression of dementia or help manage symptoms to support self-care and wellbeing.<!-- Below is The Conversation's page counter tag. Please DO NOT REMOVE. --><img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/239446/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /><!-- End of code. If you don't see any code above, please get new code from the Advanced tab after you click the republish button. The page counter does not collect any personal data. More info: https://theconversation.com/republishing-guidelines --></p> <p><em><a href="https://theconversation.com/profiles/rebecca-atkinson-1288605">Rebecca Atkinson</a>, Researcher in Music Therapy, <a href="https://theconversation.com/institutions/anglia-ruskin-university-1887">Anglia Ruskin University</a> and <a href="https://theconversation.com/profiles/ming-hung-hsu-2215063">Ming-Hung Hsu</a>, Senior Research Fellow, Music Therapy, <a href="https://theconversation.com/institutions/anglia-ruskin-university-1887">Anglia Ruskin University</a></em></p> <p><em>Image credits: Shutterstock</em></p> <p><em>This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/music-and-dementia-researchers-are-still-making-discoveries-about-how-songs-can-help-sufferers-239446">original article</a>.</em></p> </div>

Mind

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We tend to underestimate our future expenses – here’s one way to prevent that

<div class="theconversation-article-body"><em><a href="https://theconversation.com/profiles/ray-charles-chuck-howard-1361224">Ray Charles "Chuck" Howard</a>, <a href="https://theconversation.com/institutions/texas-aandm-university-1672">Texas A&amp;M University</a>; <a href="https://theconversation.com/profiles/abigail-sussman-227057">Abigail Sussman</a>, <a href="https://theconversation.com/institutions/university-of-chicago-952">University of Chicago</a>; <a href="https://theconversation.com/profiles/david-j-hardisty-753777">David J. Hardisty</a>, <a href="https://theconversation.com/institutions/university-of-british-columbia-946">University of British Columbia</a>, and <a href="https://theconversation.com/profiles/marcel-lukas-1236384">Marcel Lukas</a>, <a href="https://theconversation.com/institutions/university-of-st-andrews-1280">University of St Andrews</a></em></p> <h2>The big idea</h2> <p>When asked to estimate how much money they would spend in the future, people underpredicted the total amount by more than C$400 per month. However, when prompted to think about unexpected spending in addition to typical expenses, people made much more accurate predictions.</p> <p>These are the main findings of a series of <a href="https://doi.org/10.1177%2F00222437211068025">studies and experiments that we conducted</a> and which have just been published in the <a href="https://journals.sagepub.com/home/mrj">Journal of Marketing Research</a>.</p> <p>In our first study, we began by asking 187 members of a Canadian credit union to predict their weekly spending for the next five weeks. Then, at the end of each week, we asked them how much they actually spent.</p> <p>For the first four weeks, people underpredicted their weekly spending by about $100 per week or $400 for the month.</p> <p>In the study’s fifth and final week, we ran an experiment to see if we could improve people’s prediction accuracy.</p> <p>Specifically, we randomly assigned participants to one of two groups. In group one, participants estimated their spending for the next week just as they had done in previous weeks. These folks once again significantly underpredicted their spending.</p> <p>In group two, participants were asked to think of three reasons why their spending for the next week might be different than usual before making their estimate. This led them to make higher and much more accurate predictions – coming within just $7 of what they actually spent.</p> <p>Importantly, participants in each group spent roughly the same amount of money that week, on average. The only difference between the two groups was whether they accurately predicted that amount.</p> <p><iframe id="WlDv3" class="tc-infographic-datawrapper" style="border: 0;" src="https://datawrapper.dwcdn.net/WlDv3/3/" width="100%" height="400px" frameborder="0" scrolling="no"></iframe></p> <p>Next, we conducted nine experiments to better understand why people underpredict their spending and whether being prompted to think of unusual expenses helps improve accuracy. In all, over 5,800 people participated in these experiments, including a representative sample of U.S. residents.</p> <p>These experiments revealed two important insights.</p> <p>First, people primarily base their spending predictions on typical expenses like groceries, gasoline and rent. They usually fail to account for irregular – though still common – expenses like car repairs, last-minute concert tickets or one-off health care bills. This is what leads to underprediction.</p> <p>Second, prompting people to think of irregular expenses in addition to typical expenses helps them to make more accurate spending predictions. In our studies, people did not factor in atypical expenses unless we asked them to do so.</p> <h2>Why it matters</h2> <p>Helping people improve the accuracy of their spending predictions could help them improve their financial well-being.</p> <p>Underpredicting expenses can be costly. For example, 12 million Americans <a href="https://www.pewtrusts.org/en/research-and-analysis/reports/2012/07/19/who-borrows-where-they-borrow-and-why">borrow a total of more than $7 billion</a> in payday loans each year because they can’t meet their monthly expenses. These loans typically have extremely high interest rates – <a href="https://www.pewtrusts.org/en/research-and-analysis/data-visualizations/2022/how-well-does-your-state-protect-payday-loan-borrowers">more than 250% in some states</a>.</p> <p>Payday loans also come due in full so quickly that around three in four borrowers <a href="https://www.pewtrusts.org/en/research-and-analysis/reports/2012/07/19/who-borrows-where-they-borrow-and-why">end up borrowing again</a> to pay off the original loan.</p> <p>If consumers could better anticipate how much money they will spend in the future, it might help motivate them to spend less and save more in the present.</p> <p>In fact, one of our studies shows that our suggested prediction strategy <a href="https://doi.org/10.1177/0022243721106802">not only boosted spending estimates</a>, it also increased intentions to save.</p> <h2>What’s next</h2> <p>Members of our research team are currently investigating if, when and why underpredicting one’s expenses may be beneficial. For example, if a person sets an optimistically low budget and actively tracks their spending against it, does that help them reduce their spending?</p> <p>We are also investigating whether people who work in the gig economy show a corresponding tendency to mispredict their future income.<!-- Below is The Conversation's page counter tag. Please DO NOT REMOVE. --><img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/189100/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /><!-- End of code. If you don't see any code above, please get new code from the Advanced tab after you click the republish button. The page counter does not collect any personal data. More info: https://theconversation.com/republishing-guidelines --></p> <p><em><a href="https://theconversation.com/profiles/ray-charles-chuck-howard-1361224">Ray Charles "Chuck" Howard</a>, Assistant Professor of Marketing, <a href="https://theconversation.com/institutions/texas-aandm-university-1672">Texas A&amp;M University</a>; <a href="https://theconversation.com/profiles/abigail-sussman-227057">Abigail Sussman</a>, Professor of Marketing, <a href="https://theconversation.com/institutions/university-of-chicago-952">University of Chicago</a>; <a href="https://theconversation.com/profiles/david-j-hardisty-753777">David J. Hardisty</a>, Assistant Professor of Marketing &amp; Behavioral Science, <a href="https://theconversation.com/institutions/university-of-british-columbia-946">University of British Columbia</a>, and <a href="https://theconversation.com/profiles/marcel-lukas-1236384">Marcel Lukas</a>, Lecturer in Banking and Finance, <a href="https://theconversation.com/institutions/university-of-st-andrews-1280">University of St Andrews</a></em></p> <p><em>Image credits: Shutterstock </em></p> <p><em>This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/we-tend-to-underestimate-our-future-expenses-heres-one-way-to-prevent-that-189100">original article</a>.</em></p> </div>

Money & Banking

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Advertising a house is ridiculously expensive in Australia – could that be affecting the property market?

<div class="theconversation-article-body"><em><a href="https://theconversation.com/profiles/james-graham-1264059">James Graham</a>, <a href="https://theconversation.com/institutions/university-of-sydney-841">University of Sydney</a></em></p> <p>Australia has long been one of the <a href="https://www.forbes.com.au/news/investing/sydney-melbourne-adelaide-are-top-10-least-affordable-cities-for-housing/#:%7E:text=Demographia's%20annual%20report%20assesses%20housing,second%20place%2C%20and%20Vancouver%20third.">most expensive</a> places in the world to buy a house. Now, it’s apparently also one of the costliest places to sell one.</p> <p>Recent <a href="https://www.theguardian.com/australia-news/2024/sep/16/the-symbiotic-relationship-that-makes-selling-a-house-in-australia-so-damn-expensive">reporting</a> in the Guardian has raised concerns about the market dominance of Australia’s two main real estate advertising websites, realestate.com.au and Domain.</p> <p>Facing little competition, the largest – realestate.com.au – appears to have <a href="https://www.theguardian.com/australia-news/2024/sep/16/the-symbiotic-relationship-that-makes-selling-a-house-in-australia-so-damn-expensive">significantly increased its fees</a> in recent years, while thwarting disruptive innovations from smaller competitors.</p> <p>Why does that matter? Because when it comes to selling a house, Australia <a href="https://www.theguardian.com/australia-news/2024/sep/16/real-estate-website-fees-australia">stands out</a> globally. In most other countries, any advertising costs are tiny or bundled in with agent fees.</p> <p>Here, along with only <a href="https://www.theguardian.com/australia-news/2024/sep/16/the-symbiotic-relationship-that-makes-selling-a-house-in-australia-so-damn-expensive">Sweden and New Zealand</a>, home sellers pay their own advertising costs in addition to real estate agent fees and commissions.</p> <p>This advertising can be expensive – up to several thousand dollars for a single property listing. But it also seems necessary, with a lack of alternative platforms offering comparable reach.</p> <p>Setting aside the problems of monopolistic pricing behaviour, what are the economics of high and rising real estate advertising fees? Do home sellers get value for the money they spend on advertising? And what might be the impacts of these fees on the Australian housing market?</p> <h2>Is advertising on big platforms worth it?</h2> <p>First, it’s worth asking whether real estate advertising is actually effective and whether bigger platforms are better.</p> <p>To explore these questions, a group of US-based economists <a href="https://www.aeaweb.org/articles?id=10.1257/aer.99.5.1878">studied</a> the outcomes of advertising on a large platform favoured by real estate agents in the United States called the “multiple listing service”, compared with a smaller for-sale-by-owner platform.</p> <p>The study found no differences in eventual home sales prices between the two platforms. But properties on the multiple listing service were more likely to sell and spent less time on the market.</p> <p>However, the size of the advertising platform didn’t explain these benefits. Rather, the different platforms appealed to buyers and sellers with varying patience levels. This variation in willingness to “wait-and-see” affected the time it took to sell.</p> <p>Translated to the Australian context, that raises questions about the value for money of advertising on a larger platform – which here, unlike the US, attracts significant fees.</p> <h2>Housing markets are ‘search markets’</h2> <p>Next, we need to consider how high costs of advertising property might affect the housing market more broadly.</p> <p>Housing markets fall into a category called “search markets” within economics. Sellers seek buyers, and buyers seek sellers offering up properties that meet their required criteria.</p> <p>The economics of search markets have been extensively studied by the likes of <a href="https://www.nobelprize.org/prizes/economic-sciences/2010/summary/">Nobel laureates</a> Peter Diamond, Dale Mortensen and Christopher Pissarides. Their insights highlight the key factors that determine search market outcomes.</p> <p>Sellers consider the costs of listing an item for sale (such as advertising) and the time it takes to find a buyer. Buyers, on the other hand, consider their alternatives to buying (such as renting) and the time it might take to find a suitable seller.</p> <p>The likelihood of a sale – and how long everything will take – depends on the number of potential buyers relative to sellers. The sales price is then negotiated after meetings between the two.</p> <p>This gives us a framework to speculate about how Australia’s high – and increasing – costs of advertising real estate could be affecting the broader housing market on both sides of this equation.</p> <h2>Costs can affect both supply and demand</h2> <p>On the supply side, high fees reduce the net financial benefit of selling a home, which could discourage homeowners from listing their properties. All else being equal, this could lead to fewer properties on the market, shorter selling times, and higher prices for the properties that are listed.</p> <p>But we can predict some effects on the demand side, too.</p> <p>High fees also reduce the net benefit of buying a home, as current buyers expect to be sellers in the future. These costs are likely to be even more pronounced for property investors, who buy and sell property more frequently than homeowners.</p> <p>Anticipation that selling costs will be high in the future could suppress the demand for housing, reducing prices and increasing the time it takes to sell a property.</p> <p>Interestingly, <a href="https://www.nber.org/papers/w32855">recent research</a> from the US suggests that these demand-side effects might outweigh the supply-side effects.</p> <p>Economists studied the impact of a series of court decisions that forced the National Association of Realtors to reduce real estate agent fees. They found lower fees increase the lifetime benefits of homeownership, which leads to a significant increase in house prices.</p> <p>Significantly, that suggests lowering the costs of selling property – including advertising – could increase property values.</p> <h2>Just one part of the housing story</h2> <p>High prices in any area of economic life are likely to rankle our sense of a fair deal. High fees for advertising real estate have an obvious immediate impact on a home seller’s wallet.</p> <p>But the nuanced flow-on effects to the broader housing market are harder to tease out. They are also likely to vary across different property markets within Australia. Commentators and policy makers should think carefully before leaping into action in this area.</p> <p>In the meantime, advertising fees are one more thing to keep an eye on as Australian housing costs continue to rise.<!-- Below is The Conversation's page counter tag. Please DO NOT REMOVE. --><img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/239111/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /><!-- End of code. If you don't see any code above, please get new code from the Advanced tab after you click the republish button. The page counter does not collect any personal data. More info: https://theconversation.com/republishing-guidelines --></p> <p><em><a href="https://theconversation.com/profiles/james-graham-1264059">James Graham</a>, Senior Lecturer in Economics, <a href="https://theconversation.com/institutions/university-of-sydney-841">University of Sydney</a></em></p> <p><em>Image credits: Shutterstock </em></p> <p><em>This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/advertising-a-house-is-ridiculously-expensive-in-australia-could-that-be-affecting-the-property-market-239111">original article</a>.</em></p> </div>

Money & Banking

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Readers response: What is the most expensive place you've visited?

<p>When it comes to travelling, there are some destinations around the world that are definitely more expensive than others. </p> <p>We asked our readers which place left them the most out of pocket, and the response was overwhelming. Here's what they said. </p> <p><strong>Angela Budden</strong> - Switzerland for sure. </p> <p><strong>Vera Hunt </strong>- Italy, but it's a beautiful place so worth every cent.</p> <p><strong>Pat Isaacs</strong> - Probably London, back in 2011. Such a contrast to Bali, in 2013. Had two weeks there, total cost was under $1600, including air fare, accommodation, food etc. Just the air fare to London was more than the total cost of my time in Bali.</p> <p><strong>Eileen Dunford</strong> - The Amalfi Coast.</p> <p><strong>Roz Harris</strong> - Ashford Castle in Ireland, but I would give anything to go back again and stay for longer.</p> <p><strong>Valerie Southam</strong> - Iceland and Finland.</p> <p><strong>Peter Connolly</strong> - I think Qatar, although the Netherlands wasn't that far behind.</p> <p><strong>Marirose Piciucco</strong> - Tahiti and Copenhagen.</p> <p><strong>Maree Newhouse</strong> - Iceland, I just came back from there. $48 for a bowl of lamb soup and $52 for a hamburger!</p> <p><strong>Gail Ladds</strong> - Positano in Italy. Cost me $25 for a milkshake about $7 years ago. It was the cost of the view I think.</p> <p><strong>Kevin Chapman</strong> - Hawaii, but worth every penny.</p> <p><strong>Peter Brady</strong> - Everywhere in the US given the lousy exchange rate, the plethora of additional government taxes, and the mandatory 20% tip.</p> <p><strong>Chaz Maree</strong> - Scandinavian countries are very expensive to visit but so beautiful, so who cares.</p> <p><strong>Catherine Cotterell</strong> - Venice, where the traders sting you as fiercely as the mosquitos.</p> <p><em>Image credits: Shutterstock </em></p> <p> </p>

Travel Trouble

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World's most expensive house up for sale

<p>A French chateau, once owned by a member of the Rothschild family and, later on, the King of Morocco, has gone up for sale with a £363 million (AU$699) price tag. </p> <p>Chateau d’Armainvilliers located at Seine-et-Marne, 48km east of the Eiffel Tower, is the world's most expensive home. </p> <p>Built upon the foundations of a 12th century castle, the sprawling mansion boasts 1,000 hectares of land, 100 rooms across 2,500 square metres of living space, a private lake, and plenty of sequoia trees - the largest trees in the world. </p> <p>Ignace Meuwissen, a self-acclaimed "real estate advisor to the global elite" described the property as a display of "opulence and grandeur".</p> <p>"It is the most expensive castle in France and perhaps in the world. The price of €425million is justified by the property itself but also by the 1,000 hectare land which offers numerous possibilities," he told Paris Match magazine. </p> <p>"An investor could build thousands of apartments there if he wanted."</p> <p>The chateau was first bought by the Rothschild banking empird in the late 19th century, before King Hassan II of Morocco bought it in the 1980s. </p> <p>He then made the chateau more fit for a king, adding a hammam spa, a beauty and hairdressing salon, and a fully-equipped medical and dental facility.</p> <p>The Moroccan King  also added a basement level, which has a network of tunnels, kitchens, cold rooms, storage spaces and staff quarters.</p> <p>The lucky owner will also find Moroccan mosaics and wall tiles decorating the home, and for any avid equestrians, the home also has a stable big enough for 50 horses. </p> <p>However, some luxury property agents have expressed their doubts on whether the property would sell with its nine-figure sum, with one saying it was an "unrealistic" price tag. </p> <p>"It doesn’t make sense, it’s absurd Properties of this type could sell for 20-25 million, or even 30 million if we really fall in love with them. I’m not even sure that Vaux-le-Vicomte (a Baroque French château), which has no marketing plans, would sell at this price," one agent told French real estate publication <em>Le Figaro Immobilier</em>.</p> <p>Others were unsure whether the changes made by the King in the 1980s would suit modern tastes. </p> <p><em>Images: Whisper Auctions</em></p>

Real Estate

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Why is gluten-free bread so expensive? A food supply chain expert explains

<p><em><a href="https://theconversation.com/profiles/flavio-macau-998456">Flavio Macau</a>, <a href="https://theconversation.com/institutions/edith-cowan-university-720">Edith Cowan University</a></em></p> <p>Before the cost of living hit Australian families hard, a group of consumers were already paying top dollar for their staples. Whether it be gluten free, dairy free or lactose free, people with special dietary requirements are used to spending more at the supermarket checkout.</p> <p>A 2016 study from the University of Wollongong found that Australians were <a href="https://onlinelibrary.wiley.com/doi/10.1111/1747-0080.12171">paying up to 17% more for a gluten-free diet</a>.</p> <p>Current examples are easy to find. A <a href="https://www.coles.com.au/product/coles-white-bread-650g-4901345">white sandwich loaf at Coles</a> costs A$2.40 (or A$0.37 per 100g), whereas <a href="https://www.coles.com.au/product/coles-i'm-free-from-white-loaf-500g-3216673">the cheapest gluten-free option</a> costs $5.70 (or $1.14 per 100g). That’s over three times as much. Prices are closer comparing Coles Full Cream Milk at A$1.50 per litre with Coles Lactose Free Lite Milk at A$1.60, the exception that confirms the rule.</p> <p>So why are allergen-free products more expensive?</p> <h2>Is it the ingredients?</h2> <p>If manufacturers pay more for ingredients, this is usually reflected in the price of the final product. Regular and gluten-free bread share many common ingredients, but there is a substantial change where wheat flour is replaced by gluten-free flour. This ingredient may cost manufacturers around two times as much given the uniqueness of gluten-free grains, seeds, and nuts. These special ingredients are not as abundant or easy to process as wheat, and are also a bit more difficult to buy in very large scale.</p> <p>For a simple reference, compare <a href="https://www.coles.com.au/product/coles-white-plain-flour-1kg-5881232">regular</a> and <a href="https://www.coles.com.au/product/coles-i'm-free-from-plain-flour-gluten-free-500g-2478197">gluten-free flour</a> at Coles.</p> <p>Gluten, <a href="https://onlinelibrary.wiley.com/doi/full/10.1111/jgh.13703">a complex mixture of hundreds of related but distinct proteins</a>, has unique properties. It is a binding agent that improves texture in recipes. Gluten-free bread therefore needs extra help to, literally, hold it together. Additional items such as thickeners, tapioca and maize starches are added to gluten-free recipes to improve viscosity and keep baked items in shape. That means a longer ingredient list and a slightly more complex manufacturing process.</p> <p>So, from an ingredient perspective, gluten-free bread costs more than regular bread. This applies for other allergen-free products as well. But with so many common ingredients, it is reasonable to say that this is not the main explanation.</p> <h2>Is it manufacturing and transporting?</h2> <p>A substantial part of price differences between regular and allergen-free foods comes from <a href="https://www.investopedia.com/terms/e/economiesofscale.asp">economies of scale</a>. Regular products are manufactured in very large quantities, while allergen-free products involve much smaller volumes.</p> <p>Bulk buying from large suppliers gets you bigger discounts. The more machines in a factory, the cheaper it is to run them. Larger outputs coming from the same place mean smaller costs for each individual product. Given that you have fixed costs to pay anyway, size is king.</p> <p>You pay the same amount for a grain mill regardless of whether you grind one kilo or one tonne of grains a day. Sure, you spend more on electricity or gas, but those are <a href="https://corporatefinanceinstitute.com/resources/accounting/fixed-and-variable-costs/">variable costs</a>.</p> <p>Then, there is the need for rigorous quality control. The United Nations Food and Agriculture Organization has a detailed <a href="https://www.fao.org/fao-who-codexalimentarius/sh-proxy/en/?lnk=1&amp;url=https%253A%252F%252Fworkspace.fao.org%252Fsites%252Fcodex%252FStandards%252FCXC%2B80-2020%252FCXC_080e.pdf">code of practice on food allergen management for food business operators</a>, covering harvesting, handling, storage, transportation, packaging, and more. The <a href="https://www.foodstandards.gov.au/food-standards-code">Australia New Zealand Food Standards Code</a> also sets specific standards.</p> <p>Deep cleaning machines, thoroughly checking that standards are met, and scrapping whole batches when they are not makes manufacturing allergen-free products more complex and expensive. The <a href="https://www.health.wa.gov.au/-/media/Files/Corporate/general-documents/food/PDF/DOHComplianceandEnforcementPolicyVersion3.pdf">implications for non-compliance</a> vary in severity, from a simple recall to a costly infringement notice, plus <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10574315/">reputational damage to consumer trust</a>.</p> <p>It is hard to exactly measure the impact of economies of scale and quality costs on the price of allergen-free products. Each manufacturer will have its own challenges and solutions. But it is reasonable to say a considerable chunk of the difference we see when comparing gluten-free bread with its regular counterpart comes from these factors.</p> <p>Transportation costs follow a similar rule. If it is easier and quicker to fill your trucks with regular products, while allergen-free products have a hard time making a full load, there are disadvantages in the latter.</p> <h2>Is it the marketing strategy?</h2> <p>The final consideration on allergen-free food prices has to do with competition and willingness to pay.</p> <p>A quick search on Coles’ website shows 276 results for “bread” once you remove the 42 items that are gluten-free. That means that there are many more brands and products competing for bread consumers than for gluten-free bread consumers. That’s over six to one! This means customers with dietary restrictions are at a disadvantage as they are beholden to the limited options on offer. As noted by the Australian Competition &amp; Consumer Commission, “<a href="https://www.accc.gov.au/business/competition-and-exemptions/competition-and-anti-competitive-behaviour">competition leads to lower prices and more choice for consumers</a>”.</p> <p>Also, fewer allergen-free products make it to the “own brand” list. Australians are <a href="https://www.news.com.au/finance/money/costs/coles-woolworths-ownbrand-products-booming-on-back-of-costofliving-crisis/news-story/d0be8b8d6e98c0a6477959cd83da17ad">relying more on these when facing the cost-of-living crisis</a>.</p> <p>There is also the <a href="https://online.hbs.edu/blog/post/willingness-to-pay">willingness to pay</a>, where consumers pay more for products deemed as having higher value. <a href="https://onlinelibrary.wiley.com/doi/full/10.1111/obr.13525">Research</a> shows that on average consumers are willing to pay 30% more for food products that they perceive to be healthier.</p> <p>Manufacturers and retailers more often than not will capitalise on that, increasing their profit margins for allergen-free products.</p> <h2>4 tips for saving money if you have allergies</h2> <p>People with dietary requirements looking to ease the cost of their weekly grocery shop should use the same strategies as every savvy consumer:</p> <ul> <li>research prices</li> <li>buy larger quantities where possible</li> <li>keep a keen eye on price reduction and items on sale</li> <li>consider replacing products tagged “allergen-free” with alternatives from other categories, such as going for rice instead of gluten-free pasta in a dish.</li> </ul> <p>In the long run, if more customers choose allergen-free products it could lead to more volume and competition, bringing prices down. <!-- Below is The Conversation's page counter tag. Please DO NOT REMOVE. --><img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/223648/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /><!-- End of code. If you don't see any code above, please get new code from the Advanced tab after you click the republish button. The page counter does not collect any personal data. More info: https://theconversation.com/republishing-guidelines --></p> <p><a href="https://theconversation.com/profiles/flavio-macau-998456"><em>Flavio Macau</em></a><em>, Associate Dean - School of Business and Law, <a href="https://theconversation.com/institutions/edith-cowan-university-720">Edith Cowan University</a></em></p> <p><em>Image credits: Getty Images </em></p> <p><em>This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/why-is-gluten-free-bread-so-expensive-a-food-supply-chain-expert-explains-223648">original article</a>.</em></p>

Money & Banking

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Taking expensive medicines or ones unavailable in Australia? Importing may be the answer

<p><em><a href="https://theconversation.com/profiles/jacinta-l-johnson-1441348">Jacinta L. Johnson</a>, <a href="https://theconversation.com/institutions/university-of-south-australia-1180">University of South Australia</a> and <a href="https://theconversation.com/profiles/kirsten-staff-1494356">Kirsten Staff</a>, <a href="https://theconversation.com/institutions/university-of-south-australia-1180">University of South Australia</a></em></p> <p>The cost-of-living crisis may be driving some Australians to look for cheaper medicines, especially if those medicines are not subsidised or people don’t have a Medicare card. Options can include buying their medicines from overseas, in a process called “<a href="https://www.tga.gov.au/products/unapproved-therapeutic-goods/personal-importation-scheme">personal importation</a>”.</p> <p>Others also use this option to import medicine that is not available in Australia.</p> <p>Here’s what’s involved and what you need to know about the health and legal risks.</p> <h2>Cost-of-living crisis bites</h2> <p>Many Australians, particularly those with long-term illnesses, are finding it increasingly hard to afford health care.</p> <p>The <a href="https://www.abs.gov.au/statistics/health/health-services/patient-experiences/latest-release#barriers-to-health-service-use">Australian Bureau of Statistics</a> reports the proportion of people who delayed or did not see a GP due to cost doubled in 2022-23 (7%) compared with 2021-22 (3.5%).</p> <p>A <a href="https://australianhealthcareindex.com.au/wp-content/uploads/2022/11/Australian-Healthcare-Index-Report-Nov-22.pdf">survey</a> published in 2022 of over 11,000 people found more than one in five went without a prescription medicine due to the cost.</p> <p>For those with a Medicare card it’s usually best (and cheapest) to get medicines locally, especially if you also have a concession card. However, for some high-cost medicines, personal importation may be cheaper. That’s when an individual arranges for medicine to be sent to them directly from an overseas supplier.</p> <p>A 2023 study found <a href="https://www.publish.csiro.au/AH/AH23143?jid=AHv47n6&amp;xhtml=5AA1F839-38C8-45E8-A458-79DCDB7597FB">1.8%</a> of Australians aged 45 or older had imported prescription medicines in the past 12 months. That indicates potentially hundreds of thousands of Australians are importing prescription medicines each year.</p> <p>Almost half of the survey respondents indicated they would consider importing medicines to save money.</p> <h2>What’s involved?</h2> <p>Australia’s drug regulator, the Therapeutic Goods Administration (TGA), allows individuals to import up to three months’ supply of medicines for their own personal use (or use by a close family member) under the <a href="https://www.tga.gov.au/products/unapproved-therapeutic-goods/personal-importation-scheme">personal importation scheme</a>.</p> <p>This often involves ordering a medicine through an overseas website.</p> <p>If the medicine would require a prescription in Australia, you must also have a legally valid prescription to import it.</p> <p>Selling or supplying these medicines to others outside your immediate family is strictly prohibited.</p> <h2>How could this help?</h2> <p>For some high-cost medicines, personal importation may be cheaper than having the medicine dispensed in Australia. This is most likely for medicines not subsidised by the <a href="https://www.pbs.gov.au/info/about-the-pbs">Pharmaceutical Benefits Scheme</a> (the PBS). People who do not hold a Medicare card may also find it cheaper to import certain medicines as they do not have access to PBS-subsidised medicines.</p> <p>For example, for people with a specific type of leukaemia, treatment with sorafenib is not covered by the PBS. For these patients it could be up to about ten times more expensive to have their treatment dispensed in Australia as it is to import. That’s because there is a cheaper generic version available overseas.</p> <p>Personal importation may also allow you to access medicines that are available overseas but are not marketed in Australia.</p> <h2>What are the risks?</h2> <p>All medicines carry risks, and medicine sold online can pose additional dangers. The TGA does not regulate medicines sold overseas, so the safety and quality of such medicines can be uncertain; they may not be produced to <a href="https://www.tga.gov.au/what-tga-regulates">Australian standards</a>.</p> <p>While similar regulatory agencies exist in other countries, when ordering medicines from overseas websites it can be difficult to determine if the product you are buying has been assessed to ensure it is safe and will do what it says it will do.</p> <p>The medicines purchased could be counterfeit or “fake”. Products bought through unverified or overseas websites may have undisclosed ingredients, contain a dose that differs from that on the label, or lack the active ingredient entirely.</p> <p><a href="https://www.tga.gov.au/importing-therapeutic-goods">Not all medicines</a> can be legally imported through the personal importation scheme. Certain medicines are never allowed to be imported into Australia, and others can only be imported by a medical professional on behalf of a patient.</p> <p>So if you attempt to import a restricted medicine, the Australian Border Force <a href="https://www.abf.gov.au/entering-and-leaving-australia/can-you-bring-it-in/categories/medicines-and-substances">may seize it</a>. Not only would you lose your medicine, but you could also receive a fine or face <a href="https://www.tga.gov.au/news/blog/can-i-import-medicine-personal-use#:%7E:text=If%20you%20try%20to%20import,a%20fine%20or%20jail%20time.">jail time</a>.</p> <p>As with any purchase from an overseas business, there is also a risk you may lose your money and you might not be protected by Australian consumer laws.</p> <p>If you do choose to import medicines by buying them from an overseas website, you should also consider what could happen if delivery is delayed and you don’t get your medicine in time.</p> <h2>Where can I get more advice?</h2> <p>If you are thinking about importing medicines you should first discuss this with a health professional, such as your GP or pharmacist.</p> <p>They can help you determine if personal importation is permitted for the medicine you need. You can also discuss if this is the best option for you.</p> <p>If you are having difficulty covering the cost of your medicines your doctor or pharmacist can also explore other potential alternatives to ensure you are receiving the most cost-effective treatment available in Australia.</p> <h2>Where do I go online?</h2> <p>If you then decide to import, here are some reputable sites to help navigate the global online medicines market:</p> <ul> <li> <p><a href="https://everyone.org/">everyone.org</a> helps people everywhere in the world access the latest medicines not available in their own countries</p> </li> <li> <p><a href="https://buysaferx.pharmacy/">Alliance for Safe Online Pharmacies</a> is a not-for-profit organisation that collates information on how to find safe online pharmacies based in different regions of the world</p> </li> <li> <p><a href="https://www.pharmacychecker.com/accredited-online-pharmacies/">PharmacyChecker</a> has also collated a list of trusted online pharmacies that ship medicines internationally.</p> </li> </ul> <p>Australian government websites about importing medicines include those from <a href="https://www.tga.gov.au/news/blog/can-i-import-medicine-personal-use">the TGA</a> and on what to consider when buying medicines online from <a href="https://www.healthdirect.gov.au/buying-medicines-online#overseas">overseas</a>.<!-- Below is The Conversation's page counter tag. Please DO NOT REMOVE. --><img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/219394/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /><!-- End of code. If you don't see any code above, please get new code from the Advanced tab after you click the republish button. The page counter does not collect any personal data. More info: https://theconversation.com/republishing-guidelines --></p> <p><a href="https://theconversation.com/profiles/jacinta-l-johnson-1441348"><em>Jacinta L. Johnson</em></a><em>, Senior Lecturer in Pharmacy Practice, <a href="https://theconversation.com/institutions/university-of-south-australia-1180">University of South Australia</a> and <a href="https://theconversation.com/profiles/kirsten-staff-1494356">Kirsten Staff</a>, Senior Lecturer in Pharmacy, <a href="https://theconversation.com/institutions/university-of-south-australia-1180">University of South Australia</a></em></p> <p><em>Image credits: Getty Images </em></p> <p><em>This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/taking-expensive-medicines-or-ones-unavailable-in-australia-importing-may-be-the-answer-219394">original article</a>.</em></p>

Caring

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Most expensive countries to retire in revealed

<p dir="ltr">Australia has become one of the most expensive countries in the world to spend your retirement, with experts sharing how much we need to retire comfortably. </p> <p dir="ltr">Australia is now regarded as the world's seventh most expensive place to retire, and is also a major target for scammers, given the country’s superannuation initiative. </p> <p dir="ltr">Swedish loan broking group Sambla calculated Australians need at least $640,911 to retire comfortably, with this hefty amount one of the biggest in the world. </p> <p dir="ltr">Australia's 4.1 per cent inflation rate is also higher than most of the rich world, which means a retiree would need $34,221 a year to survive, provided they aren't renting.</p> <p dir="ltr">Australia is also a target for scammers, having $3.6trillion in superannuation savings, or the fourth highest pool in the world.</p> <p dir="ltr">In comparison, Switzerland has been named the most expensive place in the world to retire, requiring $927,034 in retirement savings to grow old in the Alps, translating into annual costs of $46,632.</p> <p dir="ltr">Check out the entire top ten list of most expensive countries to retire below. </p> <p dir="ltr">10. France. $583,950 in retirement savings required</p> <p dir="ltr">9. Austria. $598,434 in retirement savings required</p> <p dir="ltr">8. Iceland. $607,558 in retirement savings required</p> <p dir="ltr">7. Australia. $640,911 in retirement savings required</p> <p dir="ltr">6. Canada. $665,752 in retirement savings required</p> <p dir="ltr">5. Liechtenstein. $772,984 in retirement savings required</p> <p dir="ltr">4. Singapore. $773,456 in retirement savings required</p> <p dir="ltr">3. Qatar. $791,029 in retirement savings required</p> <p dir="ltr">2. Monaco. $795,431 in retirement savings required</p> <p dir="ltr" role="presentation">1. Switzerland. $927,035 in retirement savings required</p> <p dir="ltr"><em>Image credits: Getty Images </em></p>

Retirement Life

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Australia’s most expensive number plate breaks record

<p dir="ltr">Australia’s most rare licence plate has broken records in the days before it is set to be auctioned off, with the single-digit number plate expected to sell for over $10 million. </p> <p dir="ltr">Heritage number plates are in high demand amongst collectors, with the first plates coming out of each state only branded with a single number. </p> <p dir="ltr">The first ever NSW heritage plate, which was first made for the state's first police commissioner, is being auctioned off for the first time in over a century, with the plate simply reading “1” attracting nation-wide attention. </p> <p dir="ltr">The plate was last year <a href="https://www.lloydsonline.com.au/LotDetails.aspx?smode=0&amp;aid=47033&amp;lid=4617672&amp;_ga=2.27604924.1274045232.1705885942-1957527670.1705885942">listed</a> on Lloyds Auctions, where bidding soared to over $10 million within the first 72 hours on the site. </p> <p dir="ltr">Lloyds described the plates as “the holy grail must-have for any blue-chip passion investor or the no. 1 gift for that person who has ‘everything’.”</p> <p dir="ltr">Lloyds Auctions chief operations officer Lee Hames called the plate a “unicorn” and said the public auction listing was “truly a once-in-a-lifetime opportunity”.</p> <p dir="ltr">“Generally, rare heritage plates such as these are usually passed down through generations within families,” Hames said.</p> <p dir="ltr">After being made for the police commissioner in 1910, the number 1 plate was then handed over to Sir Fredrick Stewart, the founding chairman of Australian National Airways, who held onto the plates until his death. </p> <p dir="ltr">The extraordinary value comes from the rarity of the plates, with only nine single digit number plates available in each state and territory.</p> <p dir="ltr">“These are as rare as hens’ teeth and the perfect addition to any rare classic or prestige vehicle,” Mr Hames continued.</p> <p dir="ltr">“In fact, you could potentially say that the number plate will be most likely worth MORE than the car you put it on.”</p> <p dir="ltr">At its current bidding levels, NSW 1 will be the most expensive number plate ever to sell in Australia.</p> <p dir="ltr" style="line-height: 1.38; margin-top: 0pt; margin-bottom: 18pt;"><em>Image credits: Lloyds Auctions</em><span id="docs-internal-guid-345c72a0-7fff-c7dd-0126-edd3a30b52a7"></span></p>

Money & Banking

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#GirlMaths: a seemingly innocent and fun way to justify expenses that can have serious financial consequences

<p><em><a href="https://theconversation.com/profiles/janneke-blijlevens-150258">Janneke Blijlevens</a>, <a href="https://theconversation.com/institutions/rmit-university-1063">RMIT University</a>; <a href="https://theconversation.com/profiles/angel-zhong-1204643">Angel Zhong</a>, <a href="https://theconversation.com/institutions/rmit-university-1063">RMIT University</a>, and <a href="https://theconversation.com/profiles/lauren-gurrieri-5402">Lauren Gurrieri</a>, <a href="https://theconversation.com/institutions/rmit-university-1063">RMIT University</a></em></p> <p>These shoes are perfect, made for me! I have to get them! But really, I should be paying off my car loan instead. I can’t justify this purchase. Or can I …?</p> <p>We all know this feeling, this tension between what you really want to do and what you really should, or shouldn’t, do. What you are experiencing is <a href="https://www.britannica.com/biography/Leon-Festinger/Cognitive-dissonance">cognitive dissonance</a>.</p> <p>It’s a psychological discomfort we feel when our behaviours and our values or beliefs do not match. Not to worry, we can make that discomfort simply disappear with a good dose of #GirlMaths!</p> <h2>So what is #GirlMaths?</h2> <p>GirlMaths recently became a viral phenomenon on TikTok after New Zealand FVHZM radio hosts Fletch, Vaughan and Hayley used #GirlMaths to justify one host’s mother’s expensive dress purchase as basically free because the dress was going to be worn at least four times.</p> <p><iframe id="tc-infographic-904" class="tc-infographic" style="border: none;" src="https://cdn.theconversation.com/infographics/904/f0b5e215a804bb450e609c397b96c7fcbf46172f/site/index.html" width="100%" height="400px" frameborder="0"></iframe></p> <p>Since then, influencers have added to the #GirlMaths trend with gems such as “If I buy it for $100, wear it, and then resell it for $80 then I basically wore it for free”, “If I pay with cash, it means it’s free”, and “If I just returned something, then purchase something new for the same amount of money, then it’s free”.</p> <p>The reason #GirlMaths resonates so well with everyone and allows it to go viral is that we are very familiar with this type of thinking. The mental gymnastics of #GirlMaths needed to justify cost-per-wear or cash-is-free is a perfect display of behavioural biases and heuristics, such as confirmation bias and denomination bias, being applied to everyday consumption decisions.</p> <h2>The psychology of decision-making</h2> <p>Behavioural biases and heuristics are shortcuts in our thinking that help us make decisions quicker and easier, and are great for reducing the cognitive dissonance we sometimes experience.</p> <p>Our brain has a lot of decisions to make in a day and simply doesn’t have the power to scrutinise every little detail of every <a href="https://theconversation.com/what-shall-we-have-for-dinner-choice-overload-is-a-real-problem-but-these-tips-will-make-your-life-easier-193317">decision</a>. These shortcuts in our thinking may facilitate the decision making process, but they don’t always mean we make the most optimal decisions.</p> <p>Confirmation bias is a bias where you justify your decisions by considering only the evidence that supports what you want and ignore the evidence that would mean you’d have to make a different decision. Cost-per-wear does sound quite financially savvy. It is just like bulk-buying pantry essentials, right?</p> <p>The issue is you are ignoring the facts such as: 1) your disposable income does not match this expense in light of your utility bills, 2) you could rewear a cheaper dress all the same, and 3) by spending money on a fancy dress, you lose the opportunity to spend the money on other better investments for wealth accumulation, or to pay off your car loan.</p> <h2>The financial and social costs</h2> <p>But it’s all a bit of innocent fun, right? Surely people won’t take #GirlMaths that seriously? We beg to differ.</p> <p>First, the term is unnecessarily gendered. Gendered language operates to reinforce societal expectations with a particular gender and can promote stereotypes, biases and binary categories.</p> <p>In this case, the term “girl maths” reinforces problematic stereotypes that equate women with consumption, frivolity and extravagant spending. When stereotypes are reinforced within our own social circles, we are more likely to <a href="https://journals.sagepub.com/doi/abs/10.1177/0146167299025007004?casa_token=dOhnQVtFwPsAAAAA:XSBdix5AB6bDfGjNgfbX9OIjstw4KE071GP0l60mAxvHJMaEwkyPERqHXf3z9PhctWJUl6h7TgTHg_U">internalise these as part of our identity</a>.</p> <p>By representing women in a less favourable way, the term operates to both demean and discriminate on a gendered basis. This is heightened by the use of “girl” as opposed to “woman”, which implies someone is childlike or lacking in knowledge or experience. It also begs the question what “boy maths” - set up as something opposing and different - might connote.</p> <p>Second, the #GirlMaths trend reminds us of the power of “<a href="https://theconversation.com/fintok-and-finfluencers-are-on-the-rise-3-tips-to-assess-if-their-advice-has-value-161406">finfluencers</a>” – social media content creators amassing huge online followings by sharing advice on anything from budgeting to buying a house, to investing.</p> <p>These online gurus appeal to Gen Z and millennials, simplifying complex financial concepts into digestible nuggets, much like #GirlMaths simplifies purchases based on cost-per-wear or cash-as-free.</p> <p>Just as regulators such as <a href="https://moneysmart.gov.au/other-ways-to-borrow/buy-now-pay-later-services">ASIC</a> repeatedly warn us of the dangers of buy-now-pay-later services, we must caution the #GirlMaths trend as a dangerous cocktail for young women who are susceptible to the “advice” of finfluencers.</p> <p>The trend resembles BNPL by breaking down expenses into smaller, more palatable portions, making purchases seem justifiable and affordable at the moment.</p> <p>Denomination bias describes this tendency to spend more money when it is denominated in small amounts rather than large amounts. We find it much easier to spend $50 four times than $200 all at once.</p> <p>However, the convenience of these shortcuts in our thinking can obscure the hidden financial risks. You may overlook the bigger picture of your financial health, and spend more than what you can afford. That’s why a large number of BNPL users find themselves ending up in a <a href="https://www.choice.com.au/money/credit-cards-and-loans/personal-loans/articles/bnpl-submission-to-treasury">modern debt trap</a>.</p> <h2>The perils of #GirlMaths</h2> <p>The danger of #GirlMaths to young women lies in the cocktail of feeling oddly familiar and reinforced in this biased thinking, the problematic stereotypes that shape identities, and the power of finfluencers, who wield increasing influence over the financial choices and decision-making of young women.</p> <p>While the term may initially come across as innocent fun, it’s crucial not to underestimate its potential harms. Instead, let’s champion the use of inclusive language in finance that doesn’t perpetuate gender biases.</p> <p>And if you’re a staunch supporter of #GirlMaths, we strongly urge you to take into account the possible adverse financial consequences of these quick-fix spending habits.<!-- Below is The Conversation's page counter tag. Please DO NOT REMOVE. --><img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/211903/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /><!-- End of code. If you don't see any code above, please get new code from the Advanced tab after you click the republish button. The page counter does not collect any personal data. More info: https://theconversation.com/republishing-guidelines --></p> <p><em><a href="https://theconversation.com/profiles/janneke-blijlevens-150258">Janneke Blijlevens</a>, Senior Lecturer in Marketing, <a href="https://theconversation.com/institutions/rmit-university-1063">RMIT University</a>; <a href="https://theconversation.com/profiles/angel-zhong-1204643">Angel Zhong</a>, Associate Professor of Finance, <a href="https://theconversation.com/institutions/rmit-university-1063">RMIT University</a>, and <a href="https://theconversation.com/profiles/lauren-gurrieri-5402">Lauren Gurrieri</a>, Associate Professor in Marketing, <a href="https://theconversation.com/institutions/rmit-university-1063">RMIT University</a></em></p> <p><em>Image credits: Getty Images</em></p> <p><em>This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/girlmaths-a-seemingly-innocent-and-fun-way-to-justify-expenses-that-can-have-serious-financial-consequences-211903">original article</a>.</em></p>

Money & Banking

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Eggs are so expensive right now. What else can I use?

<p><em><a href="https://theconversation.com/profiles/evangeline-mantzioris-153250">Evangeline Mantzioris</a>, <a href="https://theconversation.com/institutions/university-of-south-australia-1180">University of South Australia</a></em></p> <p>The price of eggs <a href="https://www.abc.net.au/news/2023-06-14/egg-shortage-high-prices-blamed-on-shift-from-cage-to-free-range/102474282">is rising</a>. So many of us may be looking for cheaper alternatives.</p> <p>First, the bad news. Nothing can replace a boiled, poached or fried egg.</p> <p>Now, the good news. Lots of other ingredients can make foods puff and rise, give your meal a rich taste, or hold together ingredients.</p> <p>So try using some of these egg substitutes and save the real eggs for your breakfast.</p> <h2>Why are eggs so popular?</h2> <p>Eggs are incredibly <a href="https://www.foodstandards.gov.au/science/monitoringnutrients/afcd/pages/default.aspx">nutritious</a>. They’re a <a href="https://www.mdpi.com/2072-6643/11/3/684">rich source</a> of protein, vitamins A and D, pigments called carotenoids, and minerals.</p> <p>Eggs are also versatile. We use them to make a range of savoury and sweet foods, sauces and drinks, not to mention breakfast.</p> <p>Their popularity and versatility lies in the unique characteristics of the two main parts of the egg – the white and yolk. Each contribute <a href="https://www.amazon.com.au/Food-Cooking-Harold-McGee/dp/0684800012">different properties</a> in cooking.</p> <p><a href="https://www.mdpi.com/2072-6643/11/3/684">Egg yolk</a> is about 55% water, 27% fats, 16% protein (with small amounts of carbohydrate). <a href="https://www.mdpi.com/2072-6643/11/3/684">Egg white</a> is about 10% protein and 90% water, with only traces of fat and carbohydrates. Different types of protein in egg white contribute to them foaming when whisked.</p> <h2>Eggs are versatile</h2> <p>Eggs have a <a href="https://www.sciencedirect.com/science/article/pii/S0268005X2200131X?casa_token=1yXlEb1uvwQAAAAA:s3h5KCozwn-hjIn6kLOEoW45An255V6Z0G8TcJAQgTejfLEwV7nKqkS6VPWXiNkNxR4m5Mr2lHc">different role</a> in different types of cooking.</p> <p><strong>1. Eggs are a raising agent</strong></p> <p>Beaten or whisked eggs act as a raising agent by creating pockets of air in foods, which expand with cooking, making the foods puff and rise. This gives baked products like cakes, biscuits and muffins volume and an airy feel.</p> <p>Using just the egg white leads to a remarkably light and delicate foam, as we see in meringues. In mousse and souffles the whites and the yolk are beaten separately, then mixed together. This leads to a light, airy and smooth texture.</p> <p><strong>2. Eggs hold together other ingredients</strong></p> <p>Eggs combine ingredients and hold them together during cooking. This gives foods – such as vegetable or meat patties – their structure.</p> <p><strong>3. Eggs bind other liquids</strong></p> <p>The liquid from eggs binds other liquids from other ingredients in the recipe into a soft, moist and tender mass. We see this in scrambled eggs, omelettes and egg custard.</p> <p><strong>4. Eggs act as emulsifiers</strong></p> <p>The egg yolk contains different proteins (livetin, phosvitin) and lipoproteins (lecithin). These act as emulsifiers, allowing fat and water to mix together in foods such as mayonnaise and hollandaise sauce.</p> <p><strong>5. Eggs boost flavour</strong></p> <p>The fat in egg yolks helps carry and release the flavour of some fat-soluble components of food. These foods <a href="https://www.sciencedirect.com/science/article/pii/S0924224401000796">may taste differently</a> without the eggs. Eggs also contribute to foods feeling soft in the mouth.</p> <p>As eggs have different roles in cooking, you may need different egg substitutes depending on the outcome you want. Here are some cheaper (and vegan) options.</p> <h2>Aquafaba</h2> <p>Aquafaba is the liquid drained from cans of bean – typically from chickpeas as it has the most neutral flavour. This is the all-round winner, especially as most of us probably throw it away without realising what a gem it is.</p> <p>Aquafaba is <a href="https://www.sciencedirect.com/science/article/pii/S0924224421001424?casa_token=P45Z4G2SFdsAAAAA:DRy8adcAU_QHl96LONyWOEhUXvrExVZsJ18xKvc8OiPYeVKHSOkGOKefiixXFPY9UhdscEaHF70">versatile</a>. You can whip it up like egg whites to form a foam that can be used to make meringue (even pavlova), gelato, in baked goods, and for binding ingredients in patties. It also contains emulsifiers and can be used to make mayonnaise.</p> <p>You’ll need different quantities of aquafaba depending on the recipe. Generally, though, you use about two to three tablespoons of aquafaba to replace the volume of fluid from an egg.</p> <p>On the downside, aquafaba can taste a bit beany. So it is best to use it with stronger flavours to overcome this.</p> <p>Nutritionally, <a href="https://www.sciencedirect.com/science/article/abs/pii/S0924224421001424?via%3Dihub">aquafaba</a> has small amounts of carbohydrate (about 2.6g/100 millilitre), and negligible levels of protein (about 1.3g/100 millilitre).</p> <p>You can also freeze aquafaba.</p> <h2>Vinegar and baking soda</h2> <p>Mixing a teaspoon of baking soda with a tablespoon of vinegar can replace an egg in most baked goods. This produces carbon dioxide, which is trapped into air pockets, and makes foods rise.</p> <p>This is a very cheap option, however its success may be limited by how heavy the rest of the ingredients are. This combination also has very little nutritional value.</p> <h2>Commercial egg replacements</h2> <p>These are available at most supermarkets, are very cheap compared with eggs, have a long shelf life, and are easy to use, with instructions on the packaging.</p> <p>Typically, they contain different starches from potato, tapioca and pea protein (which act as leavening agents and form foams), along with raising agents. They are recommended for use in baked goods. However they have very little nutritional value compared to an egg.</p> <h2>Flaxseed meal and chia seeds</h2> <p>Use either a tablespoon of flaxseed meal, or chia seeds, added to about three tablespoons of water. Allow the mixture to sit for a few minutes to form a gel.</p> <p>The gels can be used in baked goods, however this option isn’t as cheap as the others, and has a slight nutty taste.</p> <p>Both these seeds provide nutritional value. They are both rich in the plant-based omega-3 fatty acid called alpha-linolenic acid. We <a href="https://academic.oup.com/ajcn/article/59/6/1304/4715808">can convert</a> this fatty acid into healthy omega-3 fatty acids, but at a slow rate. These seeds also provide fibre, polyphenols and antioxidants.</p> <h2>Tofu</h2> <p>Tofu, which is made from soybeans, is widely available and fairly cheap. It has the most “eggy” appearance and so makes it ideal as a substitute for scrambled eggs and in quiche. However, you will need to use silken tofu and puree it.</p> <p>Tofu is highly nutritious and provides protein, fat, calcium, polyphenols and anti-oxidants.</p> <p>You could also use soy flour. Add one tablespoon to three tablespoons of water, then use immediately in baking and for binding ingredients together. However, soy flour does not contain calcium, which tofu does.</p> <h2>Mashed fruit</h2> <p>Mashed bananas or applesauce are also used as egg substitutes. These mainly act to bind and hold moisture in the food and help carry the flavours.</p> <p>You also get the nutritional value of the fruit. Due to the natural sugar that in fruit, this will sweeten your baked goods so you will need to drop the sugar by about a tablespoon (or more) for each piece of fruit you add.<!-- Below is The Conversation's page counter tag. Please DO NOT REMOVE. --><img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/207837/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /><!-- End of code. If you don't see any code above, please get new code from the Advanced tab after you click the republish button. The page counter does not collect any personal data. More info: https://theconversation.com/republishing-guidelines --></p> <p><em><a href="https://theconversation.com/profiles/evangeline-mantzioris-153250">Evangeline Mantzioris</a>, Program Director of Nutrition and Food Sciences, Accredited Practising Dietitian, <a href="https://theconversation.com/institutions/university-of-south-australia-1180">University of South Australia</a></em></p> <p><em>Image credits: Getty Images</em></p> <p><em>This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/eggs-are-so-expensive-right-now-what-else-can-i-use-207837">original article</a>.</em></p>

Food & Wine

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“Yolkidding me”: Perfectly round egg goes viral online

<p>In what is perhaps one of the most eggs-traordinary discoveries in Australian grocery history, a perfectly round egg has been found laying in a Victorian supermarket.</p> <p>3AW Football host Jacqui Felgate shared the remarkable find to her Instagram followers, revealing she had been sent footage of the egg that was taken at a Woolworths in inner-city Melbourne.</p> <p>"From a follower: This is so random, but I thought I would share this eggcellent find," the post read.</p> <p>"In our egg carton we found a round egg.</p> <p>"After a quick google realised it was one in a billion, literally one in a billion eggs are round and the last one that was found sold for over $1400!”</p> <blockquote class="instagram-media" 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);" data-instgrm-captioned="" data-instgrm-permalink="https://www.instagram.com/reel/CtgX__fhbdH/?utm_source=ig_embed&amp;utm_campaign=loading" data-instgrm-version="14"> <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> <div style="padding: 12.5% 0;"> </div> <div style="display: flex; flex-direction: row; margin-bottom: 14px; align-items: center;"> <div> <div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(0px) translateY(7px);"> </div> <div style="background-color: #f4f4f4; height: 12.5px; transform: rotate(-45deg) translateX(3px) translateY(1px); width: 12.5px; flex-grow: 0; margin-right: 14px; margin-left: 2px;"> </div> <div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(9px) translateY(-18px);"> </div> </div> <div style="margin-left: 8px;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 20px; width: 20px;"> </div> <div style="width: 0; height: 0; border-top: 2px solid transparent; border-left: 6px solid #f4f4f4; border-bottom: 2px solid transparent; transform: translateX(16px) translateY(-4px) rotate(30deg);"> </div> </div> <div style="margin-left: auto;"> <div style="width: 0px; border-top: 8px solid #F4F4F4; border-right: 8px solid transparent; transform: translateY(16px);"> </div> <div style="background-color: #f4f4f4; flex-grow: 0; height: 12px; width: 16px; transform: translateY(-4px);"> </div> <div style="width: 0; height: 0; border-top: 8px solid #F4F4F4; border-left: 8px solid transparent; transform: translateY(-4px) translateX(8px);"> </div> </div> </div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center; margin-bottom: 24px;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 224px;"> </div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 144px;"> </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;" href="https://www.instagram.com/reel/CtgX__fhbdH/?utm_source=ig_embed&amp;utm_campaign=loading" target="_blank" rel="noopener">A post shared by JACQUELINE FELGATE (@jacquifelgate)</a></p> </div> </blockquote> <p>Naturally, Instagram users flocked to the post, with a lot questioning how an egg could ever sell for four figures.</p> <p>"Yolkidding me," one wrote.</p> <p>"Folks buying eggs for $1400? That’s eggtortion. 😩," another said.</p> <p>However, many of the comments sympathised with the chicken who created the perfectly round — and relatively large — incredible egg.</p> <p>“All I could think was that poor chicken 🐔 😬,” one said.</p> <p>“The poor chicken that squeezed that one out 😮,” another added.</p> <p>One even questioned the sphere’s authenticity, commenting, “Is it really an egg 🥚??”</p> <p>Considering perfectly round eggs have earned finders big bucks in the past, it was no surprise that someone told Felgate her find was a thing of fortune.</p> <p>“It’s your lucky day get a ticket to the 60 mill tonight.” they said.</p> <p>Only time will tell if Felgate’s fortunate find will bring her prosperity or wind up scrambled, fried or poached.</p> <p><em>Image credit: Instagram</em></p>

Food & Wine

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Cafe owner responds to extortionate avocado drama

<p dir="ltr">A Sydney cafe has responded after being slammed for their $10.90 side of avocado.</p> <p dir="ltr">Little Jack Horner, situated right in front of Coogee Beach, also charges $11.90 for halloumi and $9.90 for a side of bacon, all of which are meant to be shared.</p> <p dir="ltr">Cafe owner BJ McHatton spoke to <em>9Honey</em> about the avocado side dish that made waves.</p> <p dir="ltr">"The smashed avocado is portioned at almost one and a half avocados, as well as containing other ingredients to make it a dish, not just an avocado in a bowl," he said of the dish. </p> <p dir="ltr">"The price of avocados does fluctuate, two months ago we were paying double what we are today," he said, adding that the venue works with local providers who go to the market daily to provide them with quality produce.</p> <p dir="ltr">"Of course, this comes at a higher cost that allows us to have a quality offering for our customers.”</p> <p dir="ltr">He pointed out that this is the first price increase in 10 years, with "the hospitality industry as a whole all the way from the suppliers to the actual venues himself have seen prices explode over the last 12 months.”</p> <p dir="ltr">McHatton added that the cafe is in a prime location, with live music five nights a week, 160 indoor plants that are professionally cared for, and their efforts to support local teams, clubs, schools and charities all contribute to their prices.</p> <p dir="ltr">"Obviously, running a business of this size, and in this destination has a lot of associated expenses. All of this has to be taken into account when we set prices for our products.”</p> <p dir="ltr">Despite increased media coverage, McHatton says they haven’t received any backlash.</p> <p dir="ltr">"Obviously being on a few radio stations and covered by a few news stations it has generated some interest on those stories. However, after reading the comments, most of them are supportive. Most people genuinely seem to understand how hard running a business is the associated cost to come with running a business," he told <em>9Honey</em>. </p> <p dir="ltr">However, he expressed disappointment at the Google reviews that were allegedly left overnight by people who had never been to the cafe.</p> <p dir="ltr">"[It's] disappointing that people will go to the trouble of leaving a review having never actually experienced the venue. If anyone has ever been to our place, they know it's a lot more about an experience, which includes the food than just the food and the price," McHatton said.</p> <p dir="ltr">Other reviewers have dubbed the food “grossly overpriced”, with one reviewer revealing their Easter lunch of two breakfasts and fruit juice was almost $100. Another added that the prices were "pushing close to that of what you would expect for dinner," though they did say the food "was great".</p> <p><span id="docs-internal-guid-58292ee2-7fff-ec9e-cede-50a6da2915f7"></span></p> <p dir="ltr"><em>Image credit: Shutterstock</em></p>

Food & Wine

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"THE SENNA MADE IT": Multi-millionaire has McLaren craned up to Melbourne’s most expensive penthouse

<div class="post-action-bar-component-wrapper" style="box-sizing: border-box; margin: 0px; padding: 0px; border: 0px; font-size: 16px; vertical-align: baseline;"> <div class="post-actions-component" style="box-sizing: border-box; margin: 0px; padding: 0px; border: 0px; font-size: 16px; vertical-align: baseline; visibility: visible;"> <div class="upper-row" style="box-sizing: border-box; margin: 8px 16px; padding: 0px; border: 0px; font-size: 16px; vertical-align: baseline; display: flex; justify-content: space-between; align-items: flex-end;"> <div class="right-box-container" style="box-sizing: border-box; margin: 0px; padding: 0px; border: 0px; font-size: 16px; vertical-align: baseline; display: flex; justify-content: flex-end; color: #323338; font-family: Figtree, Roboto, Rubik, 'Noto Kufi Arabic', 'Noto Sans JP', sans-serif; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"> <div class="post-editor-container" style="box-sizing: border-box; margin: 0px; padding: 0px; border: 0px; font-size: 16px; vertical-align: baseline;"> </div> </div> </div> </div> </div> <div> <p dir="ltr">Multi-millionaire Adrian Portelli has had his McLaren Senna GTR craned 57 storeys off the ground and into the most expensive penthouse in Melbourne.</p> <p dir="ltr">The 34-year-old bought the $39 million penthouse in April, and announced his plans to use a crane to lift his luxury sports car into the penthouse so that he can display it in the living room.</p> <p dir="ltr">“It’s a car that we can’t register, and it’s just collecting dust, so I might as well have it somewhere where it’s safe,” he told <em>7NEWS </em>last month.</p> <p dir="ltr">On Wednesday a crowd had gathered to watch Portelli’s dreams come true.</p> <p dir="ltr">The multi-millionaire took to Instagram to share his success.</p> <p dir="ltr">“THE SENNA MADE IT! A first look at the McLaren Senna GTR 57 floors up 🔥” he captioned the post.</p> <p dir="ltr">“A huge thank you to everyone involved for making this absolutely surreal moment happen,” he added, tagging the construction and investment companies who helped him achieve this.</p> <p dir="ltr">“Forever grateful.”</p> <p dir="ltr">He shared a follow up post with a series of images from the move and how proud he was to be able to achieve his dream.</p> <p dir="ltr">“When I went to bed last night I just giggled. Young Portelli would be proud. The one nobody knew 10 years ago,” he captioned the post.</p> <p dir="ltr">“If I can motivate and inspire people to want to succeed, my job is done because I understand how hard and lonely it is on the pursuit of success,” he added.</p> <p dir="ltr">Portelli has said that he plans to use his Melbourne penthouse as a weekend getaway, and admitted that he had looked at a few other penthouses during his property search, but unfortunately they didn’t have “that ‘wow’ factor”.</p> <p dir="ltr">The penthouse is located atop the Sapphire by the Gardens tower in the Melbourne CBD, and was set to<a href="https://www.oversixty.com.au/property/real-estate/luxury-penthouse-could-set-records-with-eye-watering-price-tag" target="_blank" rel="noopener"> break records</a> for the most expensive penthouse back in March.</p> <p><em>Images: Instagram</em></p> </div>

Real Estate

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Soccer’s “greatest domestic treasure” found after 70 years

<p>It took 69 years, but the Soccer Ashes have finally been found. </p> <p>Australian football has been on the hunt for the treasured trophy since 1954, when it - by all accounts - disappeared from the face of the Earth. </p> <p>The “greatest domestic treasure”, a title bestowed upon it by Australian football historian Trevor Thompson, is easy enough to miss at first glance. The hand-carved wooden box is small, but like with most things in life, it’s what’s on the inside that counts - in this case, the ashes of two cigars smoked by the Australia and New Zealand captains in 1923 following their first ‘A’ international match in Australia. </p> <p>The trophy - which is now considered to be a main contributing element in the wider history of Australia’s national team, the Socceroos - serves as the first one ever contested between the rival sides, and was thought up by the then-team manager for New Zealand, Harry Mayer. </p> <p>His belief that the two sides needed something to play for - similar to cricket’s Ashes - led to its creation. Mayer himself - a trophy maker - constructed the piece, combining the likes of New Zealand honeysuckle and Australian maple, including the iconic imagery of kangaroos and silver ferns on its lid.</p> <p>Within the box lies a blue velvet lining, and a silver-plated razor case. The case is a main feature of the trophy, as it once belonged to the-secretary of the Queensland Football Association, Private William Fisher. He had been carrying it with him during the 1915 Gallipoli landing.</p> <p>In the 30 years to follow, the two nations competed for the trophy, and saw it passed back and forth between Australia and New Zealand before its 1954 disappearance. And while some feared it had simply been tossed aside or at worst destroyed, many were not willing to give up on it. </p> <p>Historians Trevor Thompson and Ian Syson, for example, set out in 2019 on a mission to track it down, armed with the support of Football Australian and government funding.</p> <p>And to the delight of soccer fans across both nations, they did it. </p> <p>The family of the late and former Australian Soccer Football Association’s chairman Sydney Storey found it tucked away with a whole host of other treasures - including but not limited to football memorabilia, pictures, newspaper clippings, and other assorted documents - in his garage. It took them a year to identify and verify all of Storey’s vast collection, but it was all worth the wait, with the family reaching out to Football Australia as soon as possible. </p> <p>In the wake of the joyous discovery, there have been calls for the trophy - or at least a replica of it - to once again be implemented, as well as for the trans-Tasman competition to become an annual event. </p> <p>As Ian Syson explained, “this trophy is symbolic of something really important, and its discovery is also really important as well.</p> <p>"Its absence was a symptom of Australian soccer's tendency to forget itself, and for the surrounding culture not to care at all.</p> <p>"This trophy is replete with sacred significance to a country that is so obsessed with its Anzac mythology. For that to go missing, it says a lot about the way this game manages to shoot itself in the foot all the time.</p> <p>"And so maybe this is a sign that the game can correct itself, can fix itself, can remember itself - if there's enough people caring about it, if there's enough people taking an interest in the history.</p> <p>"It means so much for the game."</p> <p><em>Images: Twitter</em></p>

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Young mum shocked by dire discovery in daughter's schoolbag

<p>A Perth mother has recounted her horror at discovering a vape in her 12-year-old daughter’s schoolbag. </p> <p>Mother of three Sarah Goodyear’s day only went from bad to worse when she learned that not only was her daughter using the electronic cigarette, but that the device had been sold to her at school. </p> <p>“In all honesty, I was mortified,” she told <em>7News</em>’ Amelia Broun. “It has completely imploded now. We’ve, to some extent, left it a little bit too late.”</p> <p>“There’s a real urgency to it now,” she said, “you would not believe how many teenagers are doing this.”</p> <p>Although Sarah knows she is not alone in her current situation - just last year, a mother in Melbourne found a vape in her 7-year-old’s bag - it is likely to come of little comfort, with experts suggesting that children who vape are three times more likely to pick up a smoking habit later in life. </p> <p>Those same health experts warn that some vape devices can contain the same nicotine content as hundreds of cigarettes, while the chemicals present in different aerosols are not safe for inhalation, and are not worth the damage they will do to organs. </p> <p>“It’s almost like the genie’s got out of the bottle,” Cancer Council Western Australia’s chief executive Ashley Reid reported, “and we’re desperately trying to put it back in.</p> <p>“We don’t want to undo decades of really amazing, world-leading work in tobacco control to let vaping get away from us.”</p> <p>In response to the growing crisis, the Western Australian government has announced it will spend hundreds of thousands of dollars on a new anti-vaping campaign from the Cancer Council. The online resource, set for release later this year and said to complement existing awareness campaigns, will feature information about the health impacts of vaping, as well as support venues for those who want to quit. </p> <p>Meanwhile, a number of private schools in Perth have gone as far as to install vape detectors in their bathrooms, but public schools have shown no sign of following suit. </p> <p>Some private Perth schools have installed vape detectors in toilets, but that’s not something on the agenda for public schools, despite 9 in 10 Australians supporting tougher vaping regulations. </p> <p>Western Australia’s Health Minister Amber-Jade Sanderson noted that the state already leads the nation with their vape regulations, as vaping is illegal there without a prescription. </p> <p>“Not only is vaping harmful,” she said, “it often contains harmful substances found in cleaning products, weed killer, nail polish remover and bug spray.</p> <p>“Emerging research has found that non-smokers who use e-cigarettes are three times more likely to go on to smoke tobacco cigarettes.”</p> <p><em>Images: 7News</em></p>

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5 most expensive cities in the world

<p>Grab your credit card – you’ll need the extra funds if you want to visit these pricey cities.</p> <p><strong>1. Geneva, Switzerland</strong></p> <p>Get ready to pay at least $250 per night for a hotel and an incredible $33 for a club sandwich. Switzerland has a well-deserved reputation for being super expensive. Economists put the hefty price tags down to the fact that Switzerland pays some of the highest salaries in the world, meaning its citizens have heightened buying power.</p> <p>You’ll pay a premium for everything including transport, food, alcohol, shopping and even tasty Swiss chocolates.</p> <p><strong>2. Oslo, Norway</strong></p> <p>All of Scandinavia is known to be highly expensive, but the Norwegian capital takes the cake. In fact it’s held the top spot in the global UBS Prices and Earnings report on the world’s most expensive cities for the past decade.</p> <p>One night in Oslo will cost you an average of $561 for accommodation, cocktails, dinner for two with wine and a taxi. Even a bottle of water can cost up to $8, so it would be sensible to bring a refillable bottle of your own.</p> <p><strong>3. Singapore</strong></p> <p>The 2016 Worldwide Cost of Living Index ranked Singapore as the most expensive city in the world to live in and it’s not cheap for travellers either. You can still find some reasonably priced hotels and cheap street stalls for food, but overall prices are skyrocketing.</p> <p>Part of what makes Singapore so expensive is that its economy is booming while many others (like Australia, the US and Europe) are on the decline. It’s a trend that’s expected to continue, so Singapore won’t be appearing on the list of great value destinations anytime soon.</p> <p><strong>4. Dubai, UAE</strong></p> <p>A five-night holiday for two in Dubai will set you back almost $4,700, making it the world’s most expensive destination for tourists according to Hoppa, an airport transfer booking service. It also has the most expensive hotel rooms in the world, with an average price per night of more than $360.</p> <p>The city is known for its flashy hotels, huge shopping malls and high-end restaurants, built largely on the back of the country’s huge oil wealth.</p> <p><strong>5. New York, US</strong></p> <p>The Big Apple is easily the most expensive tourist destination in the USA and has been made even more so in recent months by a weak Australian dollar. A night out in the city that never sleeps will cost around $430 for accommodation, a meal, taxi fares and wine for two.</p> <p>Surveys have found that the average cost of a meal in New York is the most expensive of any major city in the US. The city is also known for its ‘tourist traps’, attractions that suck in naïve visitors but don’t offer value for money.</p> <p><em>Image credits: Getty Images</em></p>

International Travel

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The most expensive books in the world

<h2>The Tales of Beedle the Bard</h2> <p>JK Rowling’s first book since the conclusion of the Harry Potter series fetched a huge chunk of change. Published in December 2007, Beedle was the complete book of fairy tales that play a crucial role in the final instalment of the Harry Potter series. JK Rowling produced seven separate handwritten copies of Beedle, filled with illustrations she herself had drawn. These books were incredibly beautiful: leather-bound, with silver and moonstones decorating the cover. Rowling gave six of these ‘Moonstone Editions’ to friends and people who worked on the Harry Potter books, but one went up for auction on Amazon. One mega-fan paid US$3.98 million for it, and Rowling donated the proceeds to a children’s charity. While far from the most expensive book on this list, Beedle was the priciest book ever purchased that was written and published in the twenty-first century.</p> <h2>Traité des Arbres Fruitiers</h2> <p>The title of this eighteenth-century French handbook translates to Treatise of Fruit Trees. The book was written by botanist Henri Louis Duhamel du Monceau and contained five separate volumes filled with detailed illustrations. This manuscript went for €3.4 million (about AU$5.2 million) at a 2006 auction. Yes, someone spent over five million dollars for a book about fruit trees.</p> <h2>The Gutenberg Bible</h2> <p>This was the first-ever edition of the ‘Good Book’ to be produced using moveable-type print, with Johannes Gutenberg’s printing press (hence the name). Despite being mass-produced, the Gutenberg Bible is still incredibly rare and valuable, as its AU$8.4 million price tag makes clear. Only 48 copies of the original 1450s-printed batch remain today. The buyer of this copy was Maruzen Co. Ltd., a major Japanese bookseller. At the time, 1987, it set the record for the most expensive book ever purchased.</p> <h2>The First Folio</h2> <p>This collection of William Shakespeare’s plays is widely considered one of the most significant treasures in literary history. Formally titled Mr William Shakespeare’s Comedies, Histories &amp; Tragedies, the folio contains all but four of the Bard’s dramatic works. Of the 750 copies originally published seven years after his death in 1623, only 228 remain. Paul Allen, the co-founder of Microsoft, snatched one up at Christie’s, an auction house in New York City, in 2001. It cost him a cool AU$9.6 million.</p> <h2>The Canterbury Tales</h2> <p>This enduring collection of stories from the middle ages by fourteenth-century poet Geoffrey Chaucer fetched a hefty sum of money in 1998 – AU$11.67 million, to be exact. The 17,000 lines of The Canterbury Tales tell the story of a motley crew of pilgrims who engage in a storytelling contest while on their way to visit a holy shrine. Only 12 original copies still exist today. One ended up in the hands of London book dealers, who purchased it for GP£4.6 million (AU$8.1 million). In 1998, that amount was equal to about US$5.5 million. If you do the math (there are 24 separate tales), that’s approximately US$230,000 per tale.</p> <h2>Birds of America</h2> <p>Between 1827 and 1838, naturalist John James Audubon published a series of exquisite prints depicting hundreds of different North American bird species. Together, the 435 illustrations form the complete first edition of Birds of America, of which there are only 119 remaining copies. Another reason for the bird book’s massive value is the fact that six of the bird species depicted are now extinct. In 2010, the most expensive copy of Birds of America went for US$11.5 million at Sotheby’s Auction House in London. Two other copies of the book also raked in big money in the twentieth century: an US$8.8 million copy in 2000 and a US$7.9 million copy in 2012.</p> <h2>The Gospel of Henry the Lion</h2> <p>Only just beating out the birds in this list of expensive books is a lion… Henry the Lion, to be exact. Henry the Lion was the Duke of Saxony from 1142 to 1180 (Saxony, in case you were wondering, is a German state). He commissioned the production of a gospel book for display on the altar of Brunswick Cathedral. The text was a masterpiece, 266 pages long with 50 Romanesque illustrations depicting scenes from all four gospels. The book ended up back in the hands of the German government around 800 years later when it was purchased at a 1983 London auction for US$11.7 million. Today, the complete manuscript has a home in Wolfenbüttel, Germany’s Herzog August Library. To ensure its safety, it is only put on display once every two years!</p> <h2>Rothschild Prayer Boo</h2> <p>These are some pricey prayers: this Flemish collection of Christian texts, psalms, and images cost its buyer US$13.4 million. It was compiled in the early 1500s and features the works of a myriad of Flemish scholars, which fill 254 separate pages. In 1999, Australian businessman Kerry Stokes purchased it from Christie’s in New York. Stokes loaned it to the National Library of Australia in Canberra, where it remains today.</p> <h2>Bay Psalm Book</h2> <p>Religious texts continue to fill this list of expensive books, with the Bay Psalm Book continuing the trend. This one stands out from its fellows, though, because of its distinction as the first book ever printed in the British colonies that would become America. In 1640, 20 years after the Pilgrims landed on Plymouth Rock, the Bay Psalm Book emerged from printers in Cambridge, Massachusetts. There are approximately eleven copies still intact today, mostly in the possession of libraries and universities. One copy, though, has belonged to American businessman David Rubenstein since 2013, when he bought it at a Sotheby’s auction for US$14.2 million.</p> <h2>St Cuthbert Gospel</h2> <p>This pocket-sized version of the Gospel of John is one of the earliest surviving examples of Western bookbinding. Created in the eighth century, it spent years in the coffin of its namesake, St Cuthbert, before becoming the property of an English Jesuit school. In the years leading up to its 2012 purchase, it was on loan to the British Library. The book measures only 14 centimetres by nine centimetres inches. It may be small, but its price tag sure isn’t; the British Library raised over GB£9.5 million (AUD16.6 million) to buy it for good at an auction.</p> <h2>The Magna Carta</h2> <p>The Magna Carta, the thirteenth-century charter that laid the foundation for the future of the law as we know it, is one of the most famous texts in history. Naturally, it earns a high spot on this list. The text was one of the earliest to lay out the concept of basic human rights and limit the powers of a king. Today, only seventeen copies predating 1300 survive. One sold for a whopping AU$33.1 million at a 2007 auction. The identity of the buyer is most likely David Rubenstein, who is also the lucky (or perhaps just wealthy) owner of the Bay Psalm Book. His reasoning for spending so much money? He thought it ‘very important’ that there be a copy of the Magna Carta in the United States. It’s widely believed that the document helped inspire the Declaration of Independence.</p> <h2>The Codex Leicester</h2> <p>You might know this author’s name: Leonardo da Vinci. You might know the buyer’s name as well: Bill Gates. The current record for the most expensive book of all time belongs to this 72-page notebook filled with the Renaissance genius’s notes and theories. In the early 1700s, the Codex was purchased by the Earl of Leicester, hence its name. In 1980, an art collector bought it from the Leicester estate, and none other than Bill Gates bought it from the collector in 1994. The Codex set Gates back a cool US$30.8 million. Gates decided to share his purchase with the world, and did it in the most Bill Gates way possible: he scanned the pages of the book and turned them into a Windows 95 screensaver.</p> <p><strong>This article originally appeared on <a href="https://www.readersdigest.com.au/culture/the-most-expensive-books-in-the-world?pages=1" target="_blank" rel="noopener">Reader's Digest</a>.</strong></p> <p><em>Image: Shutterstock</em></p>

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