Who doesn’t want to know if they’re doing better than the person next door? In this episode we talk with Timi Merriman-Johnson, author, creator and founder of Mr MoneyJar, a financial education charity, to get under the bonnet of wealth gaps - wages, gender, ethnicity - and to lay out some key steps to help you climb the ladder. This episode was recorded in October 2023. The data we reference may have changed. Damo's video (What Salary Puts You In The Top 10%) is here: https://www.youtube.com/watch?v=rMo6Cxmfq1A. 🤝 Want 1:1 money help from us? Answer a few questions to find the right service & book free call: https://getmost.typeform.com/pod-episodes 🎉 Sponsors: Sensate: Get help with your anxiety & 10% off with the code MM10: https://www.getsensate.com/makingmoney Manual: Get help with your hair loss and use the code MM55 to get 55% off. ✉️ Newsletter: If you want a summary from this episode in an easy format, please subscribe to our newsletter: https://makingmoney.email/S2E5 Disclaimer: This is not financial advice. The reason it’s not financial advice is because it’s not tailored to you. We explain the principles of building wealth but if you want personalised advice, it’s worth speaking to a financial advisor. As with everything financial, please do your own research. We really encourage that because no one cares more about your money than you and if you learn the basics then it will change your life. Chapters: 00:00-00:40 - Intro 00:40-05:02 - What is the average wage in the UK? 05:02-10:38 - How to earn more money 10:38-11:20 - Manual ad 11:20-14:08 - How the Gender Pay Gap affects you 14:08-20:01 - The economic value of raising a child 20:01-21:36 - Sensate ad 21:36-25:19 - How the Ethnicity Pay Gap affects you 25:19-29:39 - The Wealth Gap 29:39-35:00 - How to reduce pay gaps 35:00-40:20 - The single biggest tax raise since the 1970s 40:20-45:40 - Who is in charge, and does it matter? 45:40-47:44 - How Warren Buffett got his wealth