Market news :: Financial industry, Finance & Banking

Rich parents of instagram are putting their kids to shame

THESE wealthy social media stars definitely haven’t cut back on their opulent lifestyles since having children.

From bathing in a tub full of cash to letting their expensive pets lounge in their luxury cars, the Instagram shots offer a little peek into the lives of the rich.

Maria, wife of German tycoon Bastian Yotta, is one of the affluent parents to feature on the Instagram page.

The blonde bombshell poses in the bathroom, gleefully throwing stacks of cash into the air, in a snap thats racked up more than 1000 likes.

Model Yulianna YS, from Moscow, Russia, is another wealthy socialite who has been featured on the Instagram page.

In one photo, Yulianna reclines in the comfy red seat of a Ferrari 458 Spider, which costs around $290,000.

Real estate guru Emir Bahadir isnt shy about posting pictures of his luxurious lifestyle either.

The tycoon snaps photos of his time at luxury events, where hes dressed in the most expensive fashion items.

Likewise, Russian Instagram star Marina Mayer constantly posts enviable photos of herself to social media.

Featuring on the Rich Parents of Instagram page, the expert poser totters beside a luxury vehicle in a pair of Louboutin shoes.

Designer and founder Iman Lopez enjoys travelling the world, frequently posting clips of herself on planes.

Its clear that this parent doesnt slum it in economy, instead choosing to sip champagne in first class.

It seems that not all of the jetsetters are ready to fully embrace the spotlight, as not all of them are tagged in the Instagram posts.

In one photo, a glam woman poses in front of a golden frame packed full of Louboutin shoes, seemingly deciding on which pair to put on.

Another man has taken a picture from a Sea-Doo of his two ships, commenting: Damn our new yacht is small.

Its not just the affluent adults who get treated to lavish goods, as one rich parent shared a snap from a recent shopping trip with her daughter.

She shared the photo of the little girl clutching a huge shopping bag, alongside the caption: Treating my daughter to Louis Vuitton one of her weekly shopping trips.

A similar snap showed a picture of a showy Lamborghini, captioned: Dad bought this 4 my 20th bday. Thank you daddy!

Even the pampered pets of the rich parents get their fair share of social media attention.

One image shows an adorable french bulldog perched on the leather seats of a Lamborghini, while another features a cheetah on top of a sports car.

Even though the Instagram account only has 93 posts to date, its already racked up an impressive 46,000 followers.

Surprisingly, the majority of responses to the ostentatious photos are positive, though some commenters cant help taking a swipe at the parents casual regard for money.

This documentary focuses on the growing "wealth gap" in America.

Tax refunds what to do and what not to do

AAAAAH, tax refunds. The promise of some free money — even though technically it’s your own money being returned to you — every August or September pleases millions of Australians.

Each year more than 10.2 million taxpayers receive a tax refund, averaging about $2500 for an individual. More than half get between $1 and $1999, while about 15 per cent get back $2000-$4000 and about 2 per cent get more than $10,000.

Deciding what to do with a tax windfall can be tricky as you try to mix the boring, do-whats-right approach with a bit of fun.

A new survey by has found that debt reduction is the number one focus this year, with almost 58 per cent of taxpayers directing their refund to debt. However, holidays and renovations also figure strongly.

Its obvious that people are cautious with their money. However, thats not to say they also arent planning to treat themselves, says Will Keall.

MyBudget director Tammy May says the extra money can quickly disappear if you dont have a plan for it. These tips might help you decide your path.


Debt reduction will save you money in the long run. Target high-interest debts such as credit cards first a $2000 payment off a typical credit card debt will save you about $400 a year in interest.

RATES COMPARED: Find a better deal for your credit card

Paying it off the mortgage will also save you interest an offset account or redraw facility on your home loan will give you flexibility to get it back if needed.

A tax refund can be great for future planning. Put some into an emergency fund or savings account you could even plan ahead and start saving for Christmas, says May.

Even longer term, putting it into superannuation will allow years of compound interest to work their magic, and youll collect some tax benefits along the way.

Aim to use some of your tax refund for fun things. The secret of a good household budget is to have money left to reward yourself.


Using your tax refund as a deposit for a big-ticket consumer item thats going to lose value and increase your debt is one of the worst things to do with the money.

It happens too often people dream big about how they are going to spend their tax return, May says.

Many consumers think they are saving money by purchasing so-called bargains but simply forget about their personal debts.

Dont stash the cash in an everyday transaction account you will receive almost nothing in interest and the money will most likely be frittered away.

Lending the money to family and friends is another bad idea, unless youre happy to kiss it goodbye.

Still having trouble deciding? Grab a pen and some paper and write down a list of the possibilities, listing the positives and negatives for each. Having it on paper will help you decide whats really important.