S2E5: How do you compare to average? And how to cross the pay gap | Timi Merriman-Johnson

The average person in the UK earns … yeah, we just teased you with that, but 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, an author, creator and founder of Mr MoneyJar, a financial education charity, to get under the bonnet of wealth gaps - averages, 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. 📇 80% of what you need to know about personal finance on 2 pages Download: https://makingmoney.email/basics-guide 🤝 Want guidance from a financial advisor 1:1? Email [email protected] for more info. 📈 Investment platforms we use: Trading 212 Get a free share worth up to £100 when you sign up for a new Invest or ISA account and deposit at least £1. https://www.trading212.com/promocodes/MM  If you do not get your free share after depositing at least £1, use the promo code ‘MM’ (for Making Money). You can use this code for up to 10 days after opening the account. InvestEngine  Get a £25 bonus when you invest at least £100. https://investengine.pxf.io/daOD2Q Vanguard https://www.vanguardinvestor.co.uk/ This is not an affiliate link. 🏥 Life insurance, income protection and critical illness cover We work with Heath Protection: https://heathprotection.co.uk/ If you purchase a product or service using one of the links above, we may receive a small commission. There will be no additional charge for you. Remember investments can fall and rise - and past performance is no guarantee of future results. Other fees may apply. Your money is at risk. 🎉Sponsors Vanta - Get your company secure and compliant, with $1k off: https://vanta.com/makingmoney. Tide - Get 4.33% AER Variable for your business account: https://makingmoney.email/tide. MoneyWeek - Get 6 editions of quality financial journalism for free: moneyweek.com/makingmoney. ✉️ Newsletter If you want a summary from this episode in an easy format, please subscribe to our newsletter: https://makingmoney.email/ep18 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.