With all the doom and gloom presented in mainstream newspapers, with increasing interest rates and volatile markets, in the office we were very happy to see some positive news coming out of the TIME Magazine this month.  It was the headline “The best inventions of 2022 – 200 extraordinary innovations changing our lives” that got us excited and hopeful for the future.

Here are a few that caught my attention…

As the mum of an impressionable 2-year-old it was exciting to see Mattel have bought out a Barbie that is based on Inspiring Women, designed to celebrate courageous women who took risks.  The doll is not the usual depiction of a “Barbie” that they are well known for, they are reflective of real-life women and role models and in this case, Dr Jane Goodall.  Mattel are not only thinking of the people they are representing via their brand, but the impact they are having on the environment and are using a minimum of 75% recycled materials.  They have plans to expand the series to include Rosa Parks, Eleanor Roosevelt, Maya Angelou and Florence Nightingale.

Most of us would be aware of the new “buy now, pay later” boom and arguably how problematic and detrimental they can be for your finances.  Fintech start-up Accrue Savings have flipped the script, encouraging people to save now and buy later.  Customers set up a free savings account and make auto deposits towards the purchase of a specific goal.  Progress is rewarded with cash given out by participating merchants – they have 35 on board so far including SmileDirectClub, Eterneva and Casper.  Currently only available in America, if it takes off it’s likely they will expand to the rest of the world.  It is reminiscent of traditional layby but with modern technology.  A far better way to purchase items you need, rather than on credit.

If you have had coffee in our office, you are in the minority of coffee drinkers that enjoy a superior brew.  Everyday, two-thirds of Americans drink coffee that is stale or poorly brewed.  For anyone who has travelled to America, this is no surprise!  This is because ground coffee beans begin to lose their flavour within hours of being ground.  Cometeer have developed a solution, a system that brews coffee 10 times stronger than a standard cup, then flash freezes it with liquid nitrogen to lock in peak taste for months.  The frozen capsules cost $2, are a high-quality single origin, packed into recyclable aluminum and dissolve in just 8oz of hot water.  Sounds like a great option for home use, where you don’t have access to an espresso machine and barista.

It is hard enough teaching children to read, let alone those who are visually impaired.  When kids are learning braille in schools, teachers can let them know how they are doing.  However, when they are working at home, teachers often don’t have the tools to assess and provide feedback.  The American Printing House for the Blind and Tinkerbell Labs have developed Polly, a wi-fi enabled device that provides braille learners with instant audio feedback, allowing teachers to assign and assess homework remotely.  Imagine how hard it would have been for blind children to learn during the pandemic and how far behind they may have fallen because they couldn’t access remote education.

The impact of our collective human footprint on the environment is causing people to think about their own actions and look for positive steps at their disposal.  When speaking with clients, more and more have the goal of installing solar panels on their homes however even with the government rebates, the cost is substantial.  A company called GAF Energy has developed a low-cost solution, Timberline Solar.  It is a complete rooftop system featuring solar energy shingles that can be installed by a roofer and a nail gun.  They are really trying to disrupt the existing solar companies to make it more accessible and affordable.  Be sure to keep an eye out for when they hit the Australian market, hopefully in the near future.

These are just a handful of the ground-breaking innovations that have a positive impact on the world and will continue to drive economic growth, changing our lives for the better. They are a timely reminder of how technology has improved our lives tremendously over the years and can continue to do so into the future.  After all, innovation is timeless.

Click here for TIME magazine’s full list of the best inventions of 2022 https://time.com/best-inventions-2022/

Written by Elise Anderson (Director & Senior Financial Planner, CFP® (BCom FP))

Referenced: TIME magazine Nov. 21/Nov.28, 2022