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Kicking Your New Year Finance Goals · She's On The Money

• 0:00
  Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yor
• 0:04
  Speaker 1: the Order KERNI Whoalbury and a waddery woman. And before
• 0:08
  Speaker 1: we get started on She's on the Money podcast, I
• 0:11
  Speaker 1: would like to acknowledge the traditional custodians of the land
• 0:14
  Speaker 1: of which this podcast is recorded on a wondery country,
• 0:18
  Speaker 1: acknowledging the elders, the ancestors and the next generation coming
• 0:22
  Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing
• 0:27
  Speaker 1: and the storytelling of you to make a difference for
• 0:30
  Speaker 1: today and lasting impact for tomorrow.
• 0:33
  Speaker 2: Let's get into it.
• 0:34
  Speaker 3: She's on the Money, She's on the Money.
• 0:57
  Speaker 4: Hello, and welcome to the last Wednesday of twenty twenty three.
• 1:01
  Speaker 2: With Shoes on the Money. Do you know what that means?
• 1:06
  Speaker 2: I don't actually means. It's been next year five years
• 1:10
  Speaker 2: of podcast. Oh my god, holy hecking.
• 1:13
  Speaker 4: Are you going to celebrate?
• 1:15
  Speaker 2: Probably not. I'm not very good at celebrating things.
• 1:18
  Speaker 4: That's fair.
• 1:19
  Speaker 2: I do like a little Instagram post. We could get
• 1:22
  Speaker 2: donuts or something.
• 1:23
  Speaker 4: Oh, I would love that. I mean, I haven't been
• 1:26
  Speaker 4: here for the whole five years.
• 1:27
  Speaker 2: But sorry, are you on the team? Are you off
• 1:29
  Speaker 2: the team? Are on the team.
• 1:30
  Speaker 4: I feel like I'm on it. Can I have a donut?
• 1:32
  Speaker 2: Still? Oh? You can have ten donuts?
• 1:34
  Speaker 4: Thank you?
• 1:35
  Speaker 2: My shower? All right, what are we doing?
• 1:37
  Speaker 5: Okay, So today we're talking about news resolutions, which I
• 1:43
  Speaker 5: think I feel like everyone's on top of mind right
• 1:45
  Speaker 5: now for everyone.
• 1:46
  Speaker 4: Yeah, can I ask what yours are?
• 1:47
  Speaker 2: You can ask what minor? Oh my gosh, I don't
• 1:50
  Speaker 2: know what minor. I have no idea. I feel like
• 1:52
  Speaker 2: it starts. Coming year is going to be crazy for me.
• 1:57
  Speaker 2: True the end of February, I'm going to become.
• 1:59
  Speaker 4: A Mom's got to be a mum?
• 2:00
  Speaker 2: What the heck? So I feel like everything is I
• 2:03
  Speaker 2: think I just want to be able to I guess yeah,
• 2:05
  Speaker 2: do that. There's nothing that I really want to change.
• 2:07
  Speaker 2: I feel like last year I had, or like last
• 2:10
  Speaker 2: year as in this year, I've had just had a
• 2:12
  Speaker 2: really productive year, Like I've smashed some really big goals.
• 2:15
  Speaker 2: I've gotten on track, I've done yeah to me a
• 2:19
  Speaker 2: lot yeap, And I'm super excited about it. But it's
• 2:22
  Speaker 2: just one of those things that you go do you
• 2:24
  Speaker 2: know what. I'm actually really proud of where I've come from.
• 2:27
  Speaker 2: So while we're talking about you know, smashing your new
• 2:30
  Speaker 2: financial goals for twenty twenty four. I also think it's
• 2:32
  Speaker 2: a good time to kind of like step back and go,
• 2:35
  Speaker 2: do you know what? Twenty twenty three was hard for
• 2:37
  Speaker 2: lots of us financially cooked, cost of living crisis cooked
• 2:42
  Speaker 2: for lots of us who have debt or mortgages, absolutely stressful.
• 2:47
  Speaker 2: So I think that we need to give ourselves a
• 2:48
  Speaker 2: bit of a pad on the back and go, you
• 2:49
  Speaker 2: know what, we didn't come this far or only come
• 2:52
  Speaker 2: this far? Yep, doesn't matter if you didn't achieve any
• 2:56
  Speaker 2: of the goals you set out to achieve this year?
• 2:58
  Speaker 2: Who cares?
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  Speaker 1: Mean?
• 3:00
  Speaker 2: You probably care? That's all right. We can start fresh
• 3:02
  Speaker 2: next year. We can start on a really good foot.
• 3:05
  Speaker 2: But like beck, who cares? If you didn't achieve a
• 3:07
  Speaker 2: goal in twenty twenty three that you really really wanted to,
• 3:10
  Speaker 2: does it mean it's completely unobtainable for the rest of
• 3:12
  Speaker 2: your life? No, exactly, we can still do it.
• 3:15
  Speaker 4: It's never too late to start, exactly.
• 3:17
  Speaker 2: So do I know what my news resolutions are?
• 3:20
  Speaker 1: No?
• 3:20
  Speaker 2: Hopefully by the end of this episode, I have a
• 3:22
  Speaker 2: better clearer idea, and I do definitely need to sit
• 3:25
  Speaker 2: down over I guess you could say the New Year's
• 3:28
  Speaker 2: break and write some of my own ones out. But yeah,
• 3:31
  Speaker 2: I think sitting down and talking about smashing your new
• 3:34
  Speaker 2: year's financial goals, it's a good place to be. But
• 3:37
  Speaker 2: we need to, I guess, start it from a place
• 3:40
  Speaker 2: of kindness as well. Not kindness for each other, which
• 3:43
  Speaker 2: is always given, but more kindness for ourselves, because sometimes
• 3:46
  Speaker 2: coming to a point, like right now, you're listening to
• 3:49
  Speaker 2: this episode, going I didn't achieve anything. They I'm really disappointed.
• 3:52
  Speaker 2: That's fine, I'm not proud of you. Look at you.
• 3:54
  Speaker 2: You're still listening to the pod, You're still engaged in
• 3:56
  Speaker 2: the community, You're still wanting what is best for you,
• 4:00
  Speaker 2: And isn't that the best?
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  Speaker 4: That's a really good way to look at it.
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  Speaker 2: I think it's the only way we can look at it.
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  Speaker 4: I love that, I think.
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  Speaker 5: Yeah, So the start of the year kind of like
• 4:07
  Speaker 5: sees us all reaved up to set new Year's resolutions.
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  Speaker 5: Whether we stick to someone or not is totally fine,
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  Speaker 5: but we do kind of find ourselves more likely than
• 4:14
  Speaker 5: ever to set fitness goals or focus on life changes.
• 4:17
  Speaker 5: And while anytime is a good time to reassess your
• 4:19
  Speaker 5: financial goals, the beginning of a year feels like a
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  Speaker 5: nice clean slate to set our new intentions on. Yeah, totally,
• 4:27
  Speaker 5: it really does.
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  Speaker 2: You're like, new year, new media, financial goals. It feels good,
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  Speaker 2: you know, she's fresh. Totally get a new diary and everything.
• 4:35
  Speaker 4: Yeah untainted? We can, Yeah we can leave everything.
• 4:38
  Speaker 2: Haven't even doodled all over it.
• 4:40
  Speaker 4: Yeah, that's exactly right.
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  Speaker 5: And that's why today we're talking top tips for kicking
• 4:43
  Speaker 5: your New Year's financial goals.
• 4:45
  Speaker 2: I'm obsessed.
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  Speaker 5: Did you know that seventy four percent of Aussie is
• 4:49
  Speaker 5: making New Year's resolutions and most common things to set
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  Speaker 5: our sights on in twenty twenty four, according to the
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  Speaker 5: Forbes Slash one pul survey are And this is probably
• 4:57
  Speaker 5: not shocking because.
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  Speaker 2: I'm not surprised that seventy four percent of assi's make
• 5:01
  Speaker 2: news resolutions. I would have guessed higher, though, same actually said, like,
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  Speaker 2: doesn't everyone set news resolutions or yeah, news goals even
• 5:08
  Speaker 2: a little bit doesn't mean you need to achieve them.
• 5:10
  Speaker 2: But I think I just feel like I have so
• 5:12
  Speaker 2: many conversations like what are you planning on doing next year?
• 5:15
  Speaker 5: Yes, you know the people that are like, I don't
• 5:17
  Speaker 5: really care about my birthday, it's just another day. I
• 5:19
  Speaker 5: think those are the people that right news resolutions resolutions,
• 5:23
  Speaker 5: which is totally fine.
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  Speaker 2: But we have birthday months, so those are type of
• 5:27
  Speaker 2: people we are exactly.
• 5:29
  Speaker 5: Actually, I would say the month before, in the month
• 5:30
  Speaker 5: after birthday, it's our birthday.
• 5:32
  Speaker 2: It's rude not to also when it's your birthday back
• 5:35
  Speaker 2: basically my birthday, so we probably should share and celebrate.
• 5:37
  Speaker 4: We can do that combined birthday part Right.
• 5:41
  Speaker 2: Tell me about this survey. What did it find?
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  Speaker 5: Okay, this is almost the same list as my own resolutions,
• 5:47
  Speaker 5: but top of the list, forty eight percent of people
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  Speaker 5: want to improve their fitness, thirty eight percent of people
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  Speaker 5: want to improve their finances, thirty six percent of people
• 5:56
  Speaker 5: want to improve their mental health, thirty four percent of
• 5:58
  Speaker 5: people want to lose weight whatever that looks like, and
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  Speaker 5: thirty two percent of people want to improve their diet.
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  Speaker 2: Yeah, I feel like those are so stereotypical, right, and
• 6:07
  Speaker 2: I'm over it.
• 6:08
  Speaker 4: Sure?
• 6:08
  Speaker 2: Yeah, anyway, you could kick me off on a round
• 6:11
  Speaker 2: about like the weight loss community, et cetera. If your
• 6:14
  Speaker 2: this is like a plug, but not a plug. It's
• 6:16
  Speaker 2: not paid, it's not sponsored, it's just run by two friends.
• 6:20
  Speaker 2: Of mine who I really really respect. If you're planning
• 6:23
  Speaker 2: on I guess improving your fitness or planning on losing
• 6:26
  Speaker 2: weight or improving your diet, I would go check out
• 6:30
  Speaker 2: kick You kick app. Yeah, they're on Instagram, and I
• 6:34
  Speaker 2: just I adore their approach to fitness and lifestyle and
• 6:38
  Speaker 2: diet because they don't talk about calories. They talk about
• 6:41
  Speaker 2: the best version of you and setting yourself up to
• 6:44
  Speaker 2: be the best version of you. And they are to
• 6:48
  Speaker 2: gorgeous people who have gone through it all when it
• 6:50
  Speaker 2: comes to I guess restricting themselves when it comes to
• 6:53
  Speaker 2: food and you know, over exercising and all of that,
• 6:56
  Speaker 2: and they don't want that for their community, so they
• 6:58
  Speaker 2: try so hard to make sure everything's well balanced. But
• 7:01
  Speaker 2: I would be checking something like that out if those
• 7:03
  Speaker 2: are your goals, and obviously sticking around She's on the
• 7:06
  Speaker 2: money when you want to talk about the financial aspects
• 7:09
  Speaker 2: of things, because obviously improved finances is great, But I
• 7:14
  Speaker 2: feel like we need to have a clearer outline because
• 7:17
  Speaker 2: you can't just say, oh, I'm going to lose weight
• 7:19
  Speaker 2: this year or I'm going to be better money this year. Yeah,
• 7:22
  Speaker 2: Like that's not tangible.
• 7:23
  Speaker 5: No, And what does that even look like, because like
• 7:26
  Speaker 5: I mean, I know we're not a weight loss podcast,
• 7:28
  Speaker 5: but like losing weight, does that mean you want to
• 7:29
  Speaker 5: lose muscle and bone density?
• 7:31
  Speaker 4: Or does that mean you want to lose fat? Like
• 7:32
  Speaker 4: we need to be more specific, bat, I don't.
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  Speaker 2: Know, And also like why are you doing that? Do
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  Speaker 2: you actually need to work on your mental health and
• 7:38
  Speaker 2: your mind exactly because I can almost guarantee that half
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  Speaker 2: the people that are saying, oh, I need to lose weight,
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  Speaker 2: you don't.
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  Speaker 4: I know, I agree, So I can't.
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  Speaker 2: We won't.
• 7:47
  Speaker 5: I think we feel exactly the same about this whole anyway,
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  Speaker 5: Straight in the bin, straight in the bin. Just everyone's
• 7:53
  Speaker 5: beautiful anyway. So v where can we drop the ball
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  Speaker 5: when it comes to actually following through on these.
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  Speaker 2: Like everywhere if you're me everywhere? But most people actually
• 8:02
  Speaker 2: blame their failure or the inability to fulfill a resolution
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  Speaker 2: on a lack of time, a lack of resources, a
• 8:09
  Speaker 2: lack of motivation, which is really important, or a loss
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  Speaker 2: of zeal after starting. Like it's like when I used
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  Speaker 2: to go to the gym, I don't anymore. I'm not
• 8:17
  Speaker 2: a gym bunny girly, and I had to come to
• 8:19
  Speaker 2: that realization. I wanted to be a gym bunny girly.
• 8:22
  Speaker 2: I so wanted to be like so fit and be
• 8:24
  Speaker 2: you know those people that get up at SA six
• 8:26
  Speaker 2: am and they go to the gym for half an
• 8:27
  Speaker 2: hour every single morning. I look at that and I go, wow,
• 8:30
  Speaker 2: the commitment, the motivation. I want to be like you.
• 8:33
  Speaker 2: I'm not like you. It's not going to happen. Never
• 8:36
  Speaker 2: going to be that gal. But like in January, when
• 8:39
  Speaker 2: I used to go to the gym, it would be
• 8:41
  Speaker 2: super full because everyone's motivated. Then come like February there's
• 8:44
  Speaker 2: less people. March there's less people. June everything's empty, like
• 8:48
  Speaker 2: we're all done. People lose their lack momentum. But only
• 8:52
  Speaker 2: about sixteen percent beck of people are able to follow
• 8:56
  Speaker 2: through with their resolutions, according to research, and the majority
• 8:59
  Speaker 2: give up within one to six weeks of starting. And
• 9:02
  Speaker 2: many of these resolutions they're just repeated year after year. Yes,
• 9:06
  Speaker 2: so I can almost guarantee that if improving your finances
• 9:09
  Speaker 2: is a goal that you have this year, it was
• 9:12
  Speaker 2: a goal that you had last year, potentially the year before.
• 9:15
  Speaker 2: But what we're doing this year back, we're getting it done,
• 9:18
  Speaker 2: getting it done, getting it done, this year is going
• 9:21
  Speaker 2: to be our best year yet when it comes to
• 9:23
  Speaker 2: twenty twenty four. So I've got a list of five
• 9:26
  Speaker 2: things that seem to get people off track really quickly.
• 9:29
  Speaker 2: So the first thing I'm going to run through these
• 9:31
  Speaker 2: really quickly is setting unrealistic resolutions. So you set something
• 9:35
  Speaker 2: that honestly was never going to happen. So if I
• 9:38
  Speaker 2: set the goal of going to the gym five times
• 9:40
  Speaker 2: a week, I can guarantee never going to happen because
• 9:42
  Speaker 2: I do not have the motivation, I don't have the time,
• 9:45
  Speaker 2: I don't have the zeal. It's not going to happen.
• 9:48
  Speaker 2: But people either establish excessively difficult objectives that quickly become unreachable,
• 9:54
  Speaker 2: or they set relatively easy goals that they quickly become
• 9:57
  Speaker 2: bored with. So, like, if you're planning on setting a goal,
• 10:00
  Speaker 2: and I'm using the gym as an example here because
• 10:02
  Speaker 2: I feel like we can all immediately connect with that mindset,
• 10:05
  Speaker 2: whether you like the gym or not, But like, how
• 10:08
  Speaker 2: unrealistic to go I'm going to go to the gym
• 10:10
  Speaker 2: five times a week? Do you go to the gym
• 10:13
  Speaker 2: once a week? Back?
• 10:14
  Speaker 4: Sometimes not you?
• 10:16
  Speaker 2: But like I don't go to the gym even once
• 10:18
  Speaker 2: a week, So why would going straight for five actually
• 10:21
  Speaker 2: be smart?
• 10:22
  Speaker 4: Yes, exactly.
• 10:23
  Speaker 2: Maybe my goal should be I'm going to work up
• 10:25
  Speaker 2: to five times a week over the next twelve months,
• 10:28
  Speaker 2: and I'm going to start by going once a week
• 10:30
  Speaker 2: in January.
• 10:31
  Speaker 4: That's a really good way to do it.
• 10:32
  Speaker 2: Lack of accountability. So if you're working with a coach
• 10:35
  Speaker 2: or a mentor or an accountability partner, that guarantees that
• 10:39
  Speaker 2: the proper energy and drive are present to help you
• 10:41
  Speaker 2: be more accomplished, more and have more. Now, I'm not
• 10:44
  Speaker 2: saying you need to go pay someone for this privilege.
• 10:47
  Speaker 2: And I guess spicy opinion, I don't believe in a
• 10:50
  Speaker 2: lot of life coaches or life mentors or business mentors
• 10:53
  Speaker 2: because I just go, how would they know how to
• 10:56
  Speaker 2: run your life better than you do? That accountability is
• 10:58
  Speaker 2: important and that's why she's on the community exists. So
• 11:01
  Speaker 2: this year, we're going to have accountability lists in our
• 11:04
  Speaker 2: Facebook group and I want you to check in. I
• 11:06
  Speaker 2: want you to be like, oh, I set this goal
• 11:08
  Speaker 2: and I haven't done it, and I promise you so
• 11:10
  Speaker 2: many other beautiful human beings from our community and jump
• 11:13
  Speaker 2: on and be like Beck, don't worry. You've got tomorrow, Beck,
• 11:16
  Speaker 2: don't worry. We can do it next week. Oh my gosh, Beck,
• 11:18
  Speaker 2: this is how I motivated myself to do it. We've
• 11:21
  Speaker 2: got your back, and we've got your back all the time.
• 11:25
  Speaker 2: People don't track or review their resolutions. So you need
• 11:28
  Speaker 2: to make sure you've got a weekly or fortnightly review
• 11:31
  Speaker 2: to allow you to keep on track of your progress
• 11:33
  Speaker 2: and turn excuses into opportunities. Yeah, because if you're not
• 11:38
  Speaker 2: on top of it, you're going to bury your head
• 11:39
  Speaker 2: in the sand. And if you bury your head in
• 11:41
  Speaker 2: the sand, you wake up in six months time ago.
• 11:43
  Speaker 2: Oh that never happened. But like, if you are two
• 11:46
  Speaker 2: weeks in and you haven't done it, well, let's just
• 11:48
  Speaker 2: reframe that goal. Maybe it's not working. What can we do?
• 11:50
  Speaker 4: Sure?
• 11:51
  Speaker 2: The next is self doubt. So so many of us
• 11:54
  Speaker 2: suffer from this. Don't allow your past failures to dictate
• 11:59
  Speaker 2: your future, Beck, I could not scream it louder. Your
• 12:03
  Speaker 2: financial circumstance does not dictate whether you are a good
• 12:07
  Speaker 2: human being or not. If you have not been good
• 12:11
  Speaker 2: with money historically, that does not mean anything. It just
• 12:15
  Speaker 2: means you didn't have the tools and the resources that
• 12:18
  Speaker 2: you needed. To manage money. Does that mean that you're silly?
• 12:22
  Speaker 3: No?
• 12:23
  Speaker 2: Does it mean you're dumb? No? Does it make you
• 12:25
  Speaker 2: really really bad with money?
• 12:28
  Speaker 1: No?
• 12:28
  Speaker 2: Because how were you supposed to be good with money? Beck?
• 12:31
  Speaker 4: Yeah?
• 12:31
  Speaker 2: If no one taught that to you, if no one
• 12:33
  Speaker 2: role modeled that to you, how were you just supposed
• 12:36
  Speaker 2: to know?
• 12:37
  Speaker 4: That's so true? I feel like that's a big thing.
• 12:39
  Speaker 2: And so many times you'll be harsh on yourself and
• 12:41
  Speaker 2: I've seen you do it and you go, I'm just
• 12:43
  Speaker 2: not that good at money.
• 12:44
  Speaker 4: Yeah, but that can be changed.
• 12:45
  Speaker 2: But why aren't you good at money?
• 12:47
  Speaker 4: Beck?
• 12:47
  Speaker 2: Is it because you grew up in a world where,
• 12:50
  Speaker 2: you know, lots of your family and friends they just
• 12:52
  Speaker 2: didn't have a lot of financial literacy too. Sure, nothing
• 12:55
  Speaker 2: to be ashamed of. It's just something to identify and go, wow,
• 12:58
  Speaker 2: I could work on that.
• 12:59
  Speaker 4: Yeah, how good?
• 13:01
  Speaker 2: Do you know what? The further we start backwards, the
• 13:03
  Speaker 2: further we can go forwards. Right.
• 13:05
  Speaker 1: Yeah.
• 13:05
  Speaker 2: It's like if you're in debt today and you're going, oh,
• 13:07
  Speaker 2: I just don't know, Like, you know, I've been pretty
• 13:09
  Speaker 2: shitty in my past. I'm not very good at money,
• 13:12
  Speaker 2: and you know, I haven't even paid off the debt
• 13:14
  Speaker 2: that I said I was going to pay off last year.
• 13:16
  Speaker 2: So how cool is it that we now have that
• 13:19
  Speaker 2: opportunity to do that, And ultimately how cool is it
• 13:22
  Speaker 2: that we can set up that goal and it will
• 13:25
  Speaker 2: actually carry us into the future. We can like look
• 13:27
  Speaker 2: at the bigger picture, right Like, if you owe five
• 13:29
  Speaker 2: grand and you're really really stressed about it, and you're like, look,
• 13:33
  Speaker 2: I'm paying back you know the minimum payments each and
• 13:35
  Speaker 2: every single month, have a look at what that minimum
• 13:37
  Speaker 2: payment is. Go all right, well, if I'm paying back,
• 13:40
  Speaker 2: you know, two hundred dollars a month, at what month
• 13:44
  Speaker 2: will I be out of debt? Let's put that in
• 13:46
  Speaker 2: your calendar. Then you've got that two hundred dollars a
• 13:48
  Speaker 2: month that can start to become savings. Let's keep that
• 13:52
  Speaker 2: I guess structure and that clarity around our goals to go.
• 13:56
  Speaker 2: I'm getting out of debt, but every single time I
• 13:58
  Speaker 2: make a repayment, that's me investing in my future self
• 14:02
  Speaker 2: and my future mentality and having that habit of quote
• 14:05
  Speaker 2: paying off debt, because one day paying off debt is
• 14:07
  Speaker 2: actually going to be savings. Yes, paying off debt one
• 14:11
  Speaker 2: day is going to be your investment and the more
• 14:13
  Speaker 2: you can prioritize that one, the more you're going to
• 14:16
  Speaker 2: smash down debt quicker. But two, the more you'll have
• 14:19
  Speaker 2: to invest in the future. Isn't that exciting?
• 14:21
  Speaker 4: Yeah, I'm so that. I think it's really good, but
• 14:23
  Speaker 4: it's so motivating.
• 14:24
  Speaker 2: Self doubt sucks. Kick it out.
• 14:26
  Speaker 4: Kick it out.
• 14:27
  Speaker 2: I promise nobody is ever going to talk to you
• 14:29
  Speaker 2: worse than you talk to yourself.
• 14:31
  Speaker 5: Yeah, I totally agree. Just Like a quick side note
• 14:33
  Speaker 5: and maybe maybe number five is that I read the
• 14:36
  Speaker 5: Power of habit. I'm not sure if you read this one,
• 14:37
  Speaker 5: but it's kind of like something I took away from
• 14:39
  Speaker 5: that is if you are just like making a plan,
• 14:42
  Speaker 5: it's all like positive stuff like I'm going to do
• 14:44
  Speaker 5: this and this and this, but we're not really planning
• 14:46
  Speaker 5: for when we're going to fail because we're not expecting to.
• 14:49
  Speaker 4: We don't want to plan for failure. I don't want
• 14:51
  Speaker 4: to fail. But I didn't set up goal because I'm
• 14:53
  Speaker 4: not bay exactly.
• 14:54
  Speaker 5: But if we hit a point or a usual blocker
• 14:58
  Speaker 5: where we would fail, and we plan for how we're
• 15:00
  Speaker 5: not going to fail, that's I think really beneficial. We
• 15:04
  Speaker 5: keep going back to like weight loss in the gym.
• 15:05
  Speaker 5: But let's say you know, on a Thursday night, you're
• 15:09
  Speaker 5: so tired you probably not going to go to the
• 15:11
  Speaker 5: gym on Friday morning. Let's think about what our mind
• 15:15
  Speaker 5: is telling us in that moment. Let's prepare ourselves for
• 15:17
  Speaker 5: those moments where we have no motivation. So planning for failure,
• 15:20
  Speaker 5: which sounds really weird, I think is also a good
• 15:23
  Speaker 5: thing to take on board.
• 15:24
  Speaker 2: I think it's really smart and it actually reminds me
• 15:26
  Speaker 2: something that I have been thinking about a lot, I
• 15:28
  Speaker 2: guess in the last twelve months, because I'm often asked fee,
• 15:32
  Speaker 2: where do you get your motivation? Where do you get
• 15:34
  Speaker 2: self discipline? And like, I've had to really reflect on
• 15:39
  Speaker 2: why I have these things because I don't have them
• 15:41
  Speaker 2: in every aspect of my life. But when it comes
• 15:43
  Speaker 2: to work and you know, getting stuff done and all
• 15:45
  Speaker 2: of that, I think a lot of people go WOWV
• 15:47
  Speaker 2: like you're doing so much, and that can be overwhelming
• 15:50
  Speaker 2: because that puts a lot of pressure on you if
• 15:52
  Speaker 2: they are like, oh, Beck, you're doing so well that
• 15:54
  Speaker 2: you can't then drop the ball, can you? But people
• 15:57
  Speaker 2: often go, well, how did you get motivated? And I'm like,
• 15:59
  Speaker 2: I didn't, I just did it like there's actually no
• 16:02
  Speaker 2: key to motivation. And when it comes to self discipline,
• 16:05
  Speaker 2: the way I see it is self discipline is the
• 16:08
  Speaker 2: highest form of self care, like doing something for future
• 16:12
  Speaker 2: you when today you doesn't really want to do it,
• 16:15
  Speaker 2: and like overcoming that and that book that you've recommended
• 16:18
  Speaker 2: is a really great place to start, but like overcoming
• 16:21
  Speaker 2: the lack of self discipline because so many people say
• 16:23
  Speaker 2: I don't have any self discipline, Victoria and I go,
• 16:26
  Speaker 2: but you have to find that no one's going to
• 16:28
  Speaker 2: gift it to you, Like there's no book you can
• 16:30
  Speaker 2: read or podcast you can listen to, or inspirational mentor
• 16:34
  Speaker 2: you can turn to that's ultimately going to turn on
• 16:36
  Speaker 2: your motivation. You've actually got to do it for you
• 16:39
  Speaker 2: and for future you. And if you go, all right, well,
• 16:41
  Speaker 2: self discipline is the highest form, according to Victoria, of
• 16:46
  Speaker 2: you know, self love, that's actually going to put you
• 16:49
  Speaker 2: in the best possible position. Because if you start seeing
• 16:51
  Speaker 2: it as like no, no, no, I'm actually going to
• 16:54
  Speaker 2: look at my budget this week because I'm overwhelmed, but
• 16:57
  Speaker 2: also I'm going to look at it because it puts
• 16:59
  Speaker 2: me in the best possible position, and I really love
• 17:01
  Speaker 2: myself and I deserve it. It changes your mindset.
• 17:03
  Speaker 5: Absolutely and can be small little things that will build
• 17:06
  Speaker 5: up your self discipline. But the I always want to
• 17:08
  Speaker 5: know what are some good like mental health checks to
• 17:10
  Speaker 5: do before we actually start setting goals.
• 17:12
  Speaker 2: I think it's a really good thing to have a
• 17:14
  Speaker 2: framework around goal setting. So obviously inside She's on the Money,
• 17:17
  Speaker 2: we use the She's on the Money goal setting framework.
• 17:20
  Speaker 2: So we want to be specific about the goals that
• 17:23
  Speaker 2: we are setting, so clearly defining it. We're not just saying,
• 17:26
  Speaker 2: you know, I want to save more money. You're saying
• 17:31
  Speaker 2: I want to be able to save ten dollars every
• 17:34
  Speaker 2: single week for the next twelve months. Like we are
• 17:37
  Speaker 2: being very specific. Beck the next is O so SotM
• 17:42
  Speaker 2: it's revolutionary watch out. But that's optimistic. So like we
• 17:46
  Speaker 2: need to really focus on mindset. So are we optimistic
• 17:51
  Speaker 2: about this goal? Are we passionate? Are we excited? Are
• 17:54
  Speaker 2: we actually wanting to do this? It's kind of like
• 17:56
  Speaker 2: a check in point because sometimes we set goals that
• 17:59
  Speaker 2: we quote think should set, not goals that we actually
• 18:02
  Speaker 2: want to set. True, so are we being optimistic? Are
• 18:05
  Speaker 2: we positive about this? Is this framed correctly goes back
• 18:09
  Speaker 2: to you know, people talking a lot about weight loss
• 18:12
  Speaker 2: and stuff like that. Are you optimistic about this or
• 18:15
  Speaker 2: are you just feeling like pretty negative? And that's probably
• 18:17
  Speaker 2: a really terrible goal to set for yourself. Like is
• 18:20
  Speaker 2: your mindset okay in this moment? T? So T is
• 18:24
  Speaker 2: time bound, So setting a realistic time frame for something,
• 18:29
  Speaker 2: and to do this we often have to work backwards.
• 18:32
  Speaker 2: So is there a date we're working towards? So if
• 18:34
  Speaker 2: you say the I really want to have ten thousand
• 18:36
  Speaker 2: dollars in my savings account by the end of the year,
• 18:38
  Speaker 2: big goal, Beck, possible, I'm excited for you. But if
• 18:42
  Speaker 2: you said to me v I want to save ten
• 18:45
  Speaker 2: thousand dollars this year, great, Beck? Is it time bound?
• 18:49
  Speaker 2: What days are we having this by?
• 18:52
  Speaker 5: Right?
• 18:52
  Speaker 2: What does that look like? Where's that ten thousand dollars
• 18:55
  Speaker 2: coming from? Which leads into m which is measurable? And
• 18:59
  Speaker 2: that's can we measure that goal? So like, if you
• 19:03
  Speaker 2: get to let's say you want it by the thirtieth
• 19:05
  Speaker 2: of December next year and you're going to start on
• 19:06
  Speaker 2: the first of January, how are we measuring that? Are
• 19:09
  Speaker 2: we going to break down that goal? Is it actually achievable?
• 19:12
  Speaker 2: So like if you told me they want to save
• 19:14
  Speaker 2: ten grand. Okay, beck, do you have eight hundred and
• 19:17
  Speaker 2: thirty three dollars a month to save? But like ten
• 19:21
  Speaker 2: thousand dollars?
• 19:21
  Speaker 1: Right?
• 19:21
  Speaker 2: If you set that goal, you go, all right, well,
• 19:24
  Speaker 2: that doesn't seem too big over twelve months, I'll break
• 19:26
  Speaker 2: it down into smaller chunks. All right, Well, that means
• 19:28
  Speaker 2: eight hundred and thirty three dollars a month. Sure, can
• 19:32
  Speaker 2: you do that? And you might go, oh, that feels
• 19:34
  Speaker 2: like a lot. Let's contextualize it a little bit more.
• 19:37
  Speaker 2: There are fifty two weeks in a year. Back that
• 19:40
  Speaker 2: means you would need to save about one hundred and
• 19:43
  Speaker 2: ninety two dollars every week to achieve ten thousand dollars.
• 19:47
  Speaker 2: Can we do that? You might go, oh, I actually
• 19:50
  Speaker 2: don't have one hundred and ninety two dollars in my
• 19:52
  Speaker 2: budget each week. I could probably like do like half
• 19:56
  Speaker 2: of that. I could probably do like one hundred dollars
• 19:58
  Speaker 2: a week, So maybe like ninety six bucks a week. Okay, Well,
• 20:02
  Speaker 2: maybe our goal needs to change to five thousand dollars
• 20:05
  Speaker 2: by the end of the year. Let's set measurable goals
• 20:09
  Speaker 2: that we know we can achieve. Because if you set
• 20:12
  Speaker 2: a goal like ten thousand dollars and you don't have
• 20:14
  Speaker 2: that free cash flow. Do you know what's gonna happen
• 20:17
  Speaker 2: on the thirtieth of December. You're going to feel like trash.
• 20:21
  Speaker 2: You're gonna tell yourself this narrative of I'm not good
• 20:25
  Speaker 2: at money, beck, I suck at money. I tried to
• 20:28
  Speaker 2: save ten thousand dollars this year and it just never happens.
• 20:31
  Speaker 2: I do it all the time, like I set these
• 20:33
  Speaker 2: goals and then I can't achieve them because I'm not
• 20:35
  Speaker 2: good with money. Becky, you're not good with money or
• 20:38
  Speaker 2: you're just not good with planning because I think not
• 20:41
  Speaker 2: you personally don't look at me like I'm attacking you,
• 20:44
  Speaker 2: but like, if you set that goal of ten thousand
• 20:47
  Speaker 2: dollars but we actually hadn't broken it down and looked
• 20:50
  Speaker 2: at whether it was feasible for you or not, you're
• 20:52
  Speaker 2: just gonna set yourself up for failure and you're gonna
• 20:55
  Speaker 2: feel like trash. Why don't we set a reasonable goal
• 20:58
  Speaker 2: for the financial circuitcumstances that you're in so that when
• 21:02
  Speaker 2: you achieve it, it can validate that you are good
• 21:05
  Speaker 2: at money. Beck All you have to do is put
• 21:07
  Speaker 2: a plan in place, put your mind to it, and
• 21:09
  Speaker 2: we can do it. A lot of people might be
• 21:12
  Speaker 2: in the position where they're thinking that there's no way
• 21:14
  Speaker 2: I can save ten grand this year, and I go,
• 21:16
  Speaker 2: that's fine, but there might be some more creative ways
• 21:19
  Speaker 2: that you want to do that. So maybe you looked
• 21:22
  Speaker 2: at me before and you were eight hundred and thirty
• 21:24
  Speaker 2: three bucks a month. Absolutely not technic, but you might
• 21:27
  Speaker 2: still be like, but I really want to save ten grand.
• 21:30
  Speaker 2: Just be creative. Do you get a second job? If
• 21:33
  Speaker 2: you've got a second job, how many hours would you
• 21:35
  Speaker 2: need to do it that second job to get about
• 21:37
  Speaker 2: eight hundred bucks a month? In addition? What could that
• 21:40
  Speaker 2: look like? Could we you know, every month?
• 21:43
  Speaker 1: Go?
• 21:43
  Speaker 2: All right? Well, I might have, you know, a little
• 21:45
  Speaker 2: cafe job in addition. But then are there things I
• 21:48
  Speaker 2: could sell? Other things I could do? Do I have
• 21:51
  Speaker 2: a friend who owns a cafe like you? Do you
• 21:53
  Speaker 2: work at your friend's cafe occasionally?
• 21:55
  Speaker 4: Yes?
• 21:55
  Speaker 2: Could I go and you know, do a few shifts
• 21:57
  Speaker 2: there to like bulk that up? R? Does that look
• 22:00
  Speaker 2: like for you? So let's make it realistic and time
• 22:03
  Speaker 2: bound so that we actually get to achieve these things. Yeah,
• 22:06
  Speaker 2: because there's nothing more disheartening than setting a goal, not
• 22:09
  Speaker 2: achieving it and thinking it was your fault because you're
• 22:12
  Speaker 2: not good enough. That's not how it works.
• 22:15
  Speaker 5: Yeah, totally, that makes so much sense. But I think
• 22:17
  Speaker 5: let's sit on that for a second. Let's go for
• 22:18
  Speaker 5: a quick break, but don't go anywhere, because after the break,
• 22:22
  Speaker 5: VD is going to give us her top tips for
• 22:24
  Speaker 5: kicking your New Year finance goals.
• 22:31
  Speaker 4: Welcome back everyone.
• 22:32
  Speaker 5: We are talking a new year, new you in this
• 22:35
  Speaker 5: final Wednesday with She's on the money for the years.
• 22:38
  Speaker 4: I know it is really sad.
• 22:40
  Speaker 2: How's at the end of the year.
• 22:41
  Speaker 4: What are we going to do with ourselves?
• 22:43
  Speaker 2: Not even joking every time you say that, I'm like,
• 22:45
  Speaker 2: il David, Il sad.
• 22:47
  Speaker 5: But don't be too sad, because VD, we want to
• 22:50
  Speaker 5: know what are your top tips for kicking your New
• 22:52
  Speaker 5: year finance goals?
• 22:53
  Speaker 2: Right, so you are not going to be surprised. We're
• 22:56
  Speaker 2: going to make it as easy as possible. Thank you
• 22:59
  Speaker 2: to smash twenty twenty four and make it your best
• 23:01
  Speaker 2: year yet. Cannot wait for it because I'm also planning
• 23:05
  Speaker 2: on making it my best year yet. So I just
• 23:06
  Speaker 2: feel like as a team, as a community, we should
• 23:09
  Speaker 2: all be on board. Yes, we're gonna have the best
• 23:12
  Speaker 2: year ever. I think we will by doing the following things.
• 23:15
  Speaker 2: Ah again, So first thing first, we're going to decide
• 23:17
  Speaker 2: what we actually want to achieve. January clean slate. As
• 23:21
  Speaker 2: you were saying before, it is the perfect time to
• 23:23
  Speaker 2: take stock of where we're at financially, particularly because we've
• 23:27
  Speaker 2: just gone through like that post December like bills role
• 23:30
  Speaker 2: that's just come through the month. Yeah, and it's like
• 23:33
  Speaker 2: at the end of a quarter, so like you're gonna
• 23:35
  Speaker 2: get your bills, you're gonna get your bader, you're gonna
• 23:37
  Speaker 2: get your electricity. So like, now's the time to really
• 23:41
  Speaker 2: sit down and go new year. Knew me. We're gonna
• 23:44
  Speaker 2: set some goals. So perhaps you would like to start
• 23:46
  Speaker 2: paying off some more debt, or commence a savings plan
• 23:49
  Speaker 2: for a new car, or maybe a holiday or you know,
• 23:52
  Speaker 2: you might want to go to Meredith this year that yes,
• 23:54
  Speaker 2: you might actually go you know what, that's on my
• 23:56
  Speaker 2: goals list. I didn't get to do it last year.
• 23:58
  Speaker 2: Let's make a clean, clean budget and automate our transfers
• 24:02
  Speaker 2: so that you know, maybe five bucks every week or
• 24:05
  Speaker 2: every couple of days goes from your account into a
• 24:07
  Speaker 2: different account, and then we know you're not going to
• 24:09
  Speaker 2: miss out.
• 24:10
  Speaker 4: It's actually a really good year.
• 24:11
  Speaker 2: But like, isn't that exciting to go, Oh, I can
• 24:14
  Speaker 2: set this goal, especially because you missed out on Meredith
• 24:17
  Speaker 2: this year. Set a goal will be like, actually, what's
• 24:20
  Speaker 2: Meredith going to cost me? Like a couple hundred bucks
• 24:22
  Speaker 2: for the ticket, a couple of hundred bucks for accommodation,
• 24:24
  Speaker 2: et cetera, et cetera. You've got heaps of time to
• 24:27
  Speaker 2: plan so that it doesn't knock you about. When it
• 24:30
  Speaker 2: pops up, you'll be like, oh my gosh, I actually
• 24:31
  Speaker 2: have a separate saver for this. It's going to happen,
• 24:34
  Speaker 2: and I deserve it.
• 24:35
  Speaker 4: Yes, it will feel free as well.
• 24:37
  Speaker 2: Exactly exactly. That's girl, math girl, your genius is. But
• 24:41
  Speaker 2: the same thing can happen there for Christmas time. If
• 24:45
  Speaker 2: you were really stressed at Christmas this year, now is
• 24:48
  Speaker 2: the time to do a little bit of reflecting and go, well,
• 24:50
  Speaker 2: how much did I spend? Did you spend five hundred dollars?
• 24:53
  Speaker 2: Did you spend one thousand dollars? Can we start popping
• 24:56
  Speaker 2: some cash aside today before the end of the year
• 25:01
  Speaker 2: so next year is not nearly as financially stressful as
• 25:03
  Speaker 2: it was this year. Yeah, like, you can set yourself
• 25:06
  Speaker 2: up now. But if we are trying to set ourselves up,
• 25:09
  Speaker 2: you know, if it was the start of December and
• 25:11
  Speaker 2: you're like, wow, Christmas is in a month, scraping together
• 25:14
  Speaker 2: an extra one thousand dollars, if that's what you needed,
• 25:17
  Speaker 2: it's not gonna help. It's gonna make you depressed, it's
• 25:19
  Speaker 2: gonna make you feel really icky. But we can do
• 25:22
  Speaker 2: that right now. In fact, if you started in the
• 25:24
  Speaker 2: first week of January and you said to yourself, all
• 25:27
  Speaker 2: right on a thousand dollars by Christmas next year, I'm
• 25:30
  Speaker 2: gonna set up a separate, like little Christmas savings account,
• 25:33
  Speaker 2: can't touch it, automate a transfer of twenty bucks a week. Okay,
• 25:37
  Speaker 2: thousand dollars at Christmas time. That seems doable, right, And
• 25:41
  Speaker 2: if it's automated out of sight, out.
• 25:42
  Speaker 4: Of mind, Yes, that's what we need.
• 25:44
  Speaker 2: I've seen you spend more than twenty bucks in a
• 25:46
  Speaker 2: week on coffee before bet, so like, that's not unachievable, right,
• 25:51
  Speaker 2: So decide what you want to achieve. The next is
• 25:54
  Speaker 2: to take stock of your current spending. Essentially with the
• 25:57
  Speaker 2: excess of the festive season, just wrapping up and probably
• 26:00
  Speaker 2: still very fresh in your mind. The new year is
• 26:03
  Speaker 2: the perfect time to take control of your current spending habits.
• 26:07
  Speaker 2: So whether that is just setting up a new little
• 26:09
  Speaker 2: account with an automatic transfer suit that you're not stressed
• 26:11
  Speaker 2: next Christmas, or taking some time to work out exactly
• 26:15
  Speaker 2: where your money is being spent, which I think is
• 26:18
  Speaker 2: really really important. Obviously, a great place to start is
• 26:21
  Speaker 2: with I guess a recent bank statement, going through that,
• 26:25
  Speaker 2: making sure that you list out each transaction that's happened.
• 26:28
  Speaker 2: We're not judging ourselves, but looking at what you're actually
• 26:31
  Speaker 2: spending in a month or a quarter or even over
• 26:33
  Speaker 2: the year is going to help. Here's where I'm going
• 26:35
  Speaker 2: to tell you about my very shiny money master class
• 26:38
  Speaker 2: that I do. So it's online, you can go and
• 26:41
  Speaker 2: sign up now. In fact, we'll do a little discount.
• 26:44
  Speaker 2: We'll put it in the show notes so you don't
• 26:45
  Speaker 2: miss out. But Pod five zero, so Pod fifty we'll
• 26:49
  Speaker 2: get you fifty bucks off.
• 26:51
  Speaker 4: That is very kind.
• 26:52
  Speaker 2: I know, it's also really great marketing for my business. Yeah, Like,
• 26:55
  Speaker 2: if we're being honest, But the reason I'm plugging the
• 26:58
  Speaker 2: money master Class here is we go through how to
• 27:02
  Speaker 2: do a proper bank account audit, how to set up
• 27:05
  Speaker 2: your spending, how to get through those I guess mind
• 27:07
  Speaker 2: blocks of you know, am I good enough? Am I
• 27:10
  Speaker 2: not good enough? Having a look at where your spending
• 27:12
  Speaker 2: habits have come from in your money story. And then
• 27:15
  Speaker 2: it's the most comprehensive spreadsheet. It's obviously on Excel or
• 27:19
  Speaker 2: Google sheets, really accessible. And also if you're not good
• 27:22
  Speaker 2: at Google sheets or Excel, don't worry. It's actually all automated.
• 27:25
  Speaker 2: I've locked everything there so you can't mess it up.
• 27:28
  Speaker 4: She's good.
• 27:29
  Speaker 2: I just can't trust everyone, you know, so you can
• 27:31
  Speaker 2: customize it. But it will essentially take you through your budget,
• 27:35
  Speaker 2: so what are you spending? And then it will tell
• 27:37
  Speaker 2: you what surplus you have and it will help you
• 27:39
  Speaker 2: allocate to Okay, well you've got excess this year or
• 27:43
  Speaker 2: coming into the new financial year of maybe ten thousand
• 27:46
  Speaker 2: dollars in your budget? Sure, what are now your goals?
• 27:48
  Speaker 2: So it'll ask you what your goals are and you
• 27:50
  Speaker 2: can pop them together. Then my favorite part about it
• 27:53
  Speaker 2: is the bank account structure. So it's not going to
• 27:55
  Speaker 2: tell you what bank to use, because that would be
• 27:58
  Speaker 2: wildly unethical and it would change. It would obviously depend
• 28:01
  Speaker 2: on you personally, but it will tell you have this
• 28:04
  Speaker 2: bank account specifically and have this money going into here,
• 28:08
  Speaker 2: and then because of your goals, you need to put
• 28:11
  Speaker 2: X in these bank accounts each week or month or
• 28:13
  Speaker 2: you know, fortnite or whatever works for you, because it's
• 28:15
  Speaker 2: all changeable, but it will make sure that you're actually
• 28:18
  Speaker 2: achieving the goals that you're setting because you're literally setting
• 28:22
  Speaker 2: a plan up for success. So it's not going to
• 28:25
  Speaker 2: leave you high and dry. You're looking at me confused.
• 28:28
  Speaker 2: I'm going to give it to you obviously, and you
• 28:30
  Speaker 2: can do it as well. But I think that you know,
• 28:34
  Speaker 2: taking stock of your spending and that obviously leads into
• 28:37
  Speaker 2: my second one of actually keeping a realistic budget. It
• 28:40
  Speaker 2: just makes sense to have a really structured approach to that,
• 28:43
  Speaker 2: especially if you've never done it before. Yeah, because it
• 28:45
  Speaker 2: can feel overwhelming, and like if you're thinking that going
• 28:49
  Speaker 2: and sitting down and writing out a budget of what
• 28:51
  Speaker 2: you're spending and what you're hoping to spend is going
• 28:53
  Speaker 2: to do it. It's not. You need the follow through
• 28:56
  Speaker 2: of well, what does my banking structure then look? Like
• 28:59
  Speaker 2: how much money it comes into my account. How much
• 29:01
  Speaker 2: money goes out of my account? What does that look like?
• 29:04
  Speaker 2: And how do I control it? Because back, how many
• 29:07
  Speaker 2: times have you sat down and written down all your expenses?
• 29:09
  Speaker 4: Maybe once in my entire life.
• 29:11
  Speaker 2: You are the worst example here. But if you were
• 29:14
  Speaker 2: to then you might go, oh, I'm spending too much
• 29:16
  Speaker 2: on groceries. I want to spend less. Sure, how are
• 29:19
  Speaker 2: you actually implementing that? It's not going to help, so
• 29:23
  Speaker 2: set a realistic budget. The next is, Baby, it's time
• 29:26
  Speaker 2: to consolidate your debts. Yep, it is time to have
• 29:29
  Speaker 2: a look at your debt with your head not in
• 29:32
  Speaker 2: the sand. So if you're paying off several personal loans
• 29:35
  Speaker 2: or credit card balances at once, you're probably finding it
• 29:38
  Speaker 2: really difficult to juggle different payments. It gets overwhelming. Beck,
• 29:41
  Speaker 2: you've spoken on the podcast before about how this has
• 29:44
  Speaker 2: given you mad anxiety. Yes, consolidating your debts into a
• 29:47
  Speaker 2: single loan might I'm not saying guaranteed, but it might
• 29:50
  Speaker 2: be an option for you, and it might make budgeting
• 29:53
  Speaker 2: easier and it could potentially save you money on interest
• 29:56
  Speaker 2: and fees. So giving you just I guess one payment
• 30:00
  Speaker 2: every single month to pay instead of multiple across the
• 30:02
  Speaker 2: board if you're in that circumstance is going to help. Yeah,
• 30:06
  Speaker 2: and it just takes the mental load off as well.
• 30:09
  Speaker 2: Having a chat to someone about it, making sure that
• 30:11
  Speaker 2: you know you're not alone on this is more.
• 30:14
  Speaker 4: Important makes you feel good.
• 30:15
  Speaker 5: Like in my experience, like even when I called someone
• 30:17
  Speaker 5: to ask about consolidating loans, when the person on the
• 30:19
  Speaker 5: outer line didn't scream at the idea of the debts
• 30:23
  Speaker 5: that I had, They were just kind of like, yeah, okay,
• 30:25
  Speaker 5: well blah blah.
• 30:25
  Speaker 2: Blah, like they still without every day.
• 30:27
  Speaker 4: Hey, that was so nice.
• 30:29
  Speaker 2: That's liliberating. It makes you feel, I guess, empowered and
• 30:32
  Speaker 2: that it's not you.
• 30:34
  Speaker 5: Yeah, and it's like, oh, there surely are other people
• 30:36
  Speaker 5: out there in this case.
• 30:38
  Speaker 2: I'm telling you right now, debt consolidation loans exist because
• 30:43
  Speaker 2: lots of people, Beck experience debt? Yes, Does it make
• 30:46
  Speaker 2: you a bad person, Beck, I would not think so. Exactly,
• 30:50
  Speaker 2: absolutely not. The next you're never going to see this coming,
• 30:55
  Speaker 2: sit down. I want you to have an emergency fund. Okay,
• 30:58
  Speaker 2: start building an emergency fund. If you don't have one.
• 31:00
  Speaker 2: If you have one, revisited, is it still enough we
• 31:03
  Speaker 2: have just gone through or are still in a cost
• 31:05
  Speaker 2: of living crisis. Your emergency fund might need a little
• 31:09
  Speaker 2: bit of a bump up. This could feel really overwhelming
• 31:12
  Speaker 2: hearing this right now, because you probably dug into your
• 31:14
  Speaker 2: emergency fund in the last few months. So don't worry
• 31:17
  Speaker 2: if it's looking a little less healthy than it was once.
• 31:21
  Speaker 2: This is just a season of life back Sometimes money
• 31:24
  Speaker 2: and finances are really hard. Sometimes they ease up a
• 31:27
  Speaker 2: bit and become really easy, and then they might go
• 31:30
  Speaker 2: back to hard. This is a season of life. It's
• 31:32
  Speaker 2: not reflective of your ability to manage money, but keeping
• 31:37
  Speaker 2: your emergency fund as a priority is really really important.
• 31:41
  Speaker 2: The next this is sexy. It's it's not Eve going
• 31:45
  Speaker 2: to review all your PaperWorks. Oh sorry, you can have
• 31:48
  Speaker 2: like a little cheeky glass of wine, or, if you're
• 31:50
  Speaker 2: in my situation, a really nice peppermint tea. Set yourself
• 31:53
  Speaker 2: a little date night. You know what, I'm giving you
• 31:55
  Speaker 2: permission you can get takeaway. Oh yes, you takeaway right.
• 32:00
  Speaker 2: And we're going to start with insurances. Do you have
• 32:02
  Speaker 2: life insurance, house insurance, car insurance? Are they all up
• 32:05
  Speaker 2: to date? When was the last time you reviewed your
• 32:07
  Speaker 2: car insurance? Get online compare a few different car insurance quotes.
• 32:11
  Speaker 2: I guarantee you'll probably save a couple of hundred bucks
• 32:13
  Speaker 2: by moving car insurance companies because they're all just reissuing
• 32:18
  Speaker 2: their car insurance statements at this point in the year.
• 32:21
  Speaker 2: And you know what you can do. Better, go save
• 32:24
  Speaker 2: yourself a couple of hundred bucks. I promise the takeaway
• 32:26
  Speaker 2: will be worth it. Make sure that you're adequately covered.
• 32:29
  Speaker 2: Are your premiums actually appropriate for the amount of cover
• 32:32
  Speaker 2: that you're getting. Assess your superannuation and if you haven't before, Beck,
• 32:37
  Speaker 2: nominate your beneficiary. Okay, do you ever know what that means?
• 32:41
  Speaker 2: You're looking at me like, what the heck can.
• 32:42
  Speaker 4: Why do you remember this from Super days?
• 32:44
  Speaker 2: Yes, so it's essentially what happens when you die. Beck,
• 32:46
  Speaker 2: who's going to take it over? Nominate that person. Make
• 32:49
  Speaker 2: your financial life not be a burden on your family
• 32:52
  Speaker 2: if something were to happen to you. Is your will
• 32:55
  Speaker 2: up to date or have your circumstances changed? Recently we
• 32:58
  Speaker 2: have had to go and read our wills, so Steve
• 33:01
  Speaker 2: and I because we now have a baby that we're
• 33:03
  Speaker 2: going to have to think about. Oh, isn't that scary? Yeah,
• 33:06
  Speaker 2: So I'm looking at my life insurance, going ah, that's
• 33:09
  Speaker 2: not going to be enough to sustain a whole other
• 33:11
  Speaker 2: human being who doesn't have an income. Sure, So if
• 33:15
  Speaker 2: you are looking at that and going, oh, I'm so
• 33:17
  Speaker 2: overwhelmed with life insurance and you know, TPD and all
• 33:20
  Speaker 2: of those fun things, Sky Wealth is who you want
• 33:23
  Speaker 2: to talk to. Obviously, this is a not so subtle
• 33:26
  Speaker 2: plug for my friend Phil. Take it or leave it.
• 33:29
  Speaker 2: Go see any financial advisor you want. The reason I
• 33:31
  Speaker 2: like Phil is he only does insurances, So you're not
• 33:34
  Speaker 2: going to go and have someone be like, oh, hello, Beck,
• 33:36
  Speaker 2: you came for insurances. Can I upsell you to look
• 33:39
  Speaker 2: at your superannuation? Can I make a fancy investment plan?
• 33:43
  Speaker 2: Can I charge you thousands of dollars the stuff you
• 33:45
  Speaker 2: didn't ask me for? He doesn't do that. He just
• 33:47
  Speaker 2: has a very low fee for his statement of advice.
• 33:51
  Speaker 2: He only does insurances, and he's who my husband and
• 33:54
  Speaker 2: I go through and I've had a really positive experience,
• 33:56
  Speaker 2: and I know you will too if you chose that.
• 33:59
  Speaker 2: But if you don't want to work with Phil, that's fine.
• 34:02
  Speaker 2: Go work with anybody to get your insurances sorted, because
• 34:05
  Speaker 2: it is so damn important. You can get matched on
• 34:10
  Speaker 2: that she's on the Money website with a financial advisor
• 34:13
  Speaker 2: just for insurance, or a holistic financial advisor if that's
• 34:16
  Speaker 2: what you want to do. This is so also check
• 34:18
  Speaker 2: out that she's on the money website. This feels very informercial,
• 34:21
  Speaker 2: but it's not meant to I'm just like trying to
• 34:22
  Speaker 2: get through it quickly so you get the information. But
• 34:25
  Speaker 2: I can keep talking to you about all of the
• 34:27
  Speaker 2: tips and tricks I've written down. But yes, I think
• 34:29
  Speaker 2: it's actually really important to know that that resource on
• 34:32
  Speaker 2: the she's on the Money website actually exists because we
• 34:34
  Speaker 2: don't actually talk about it that much. True, but it's
• 34:37
  Speaker 2: a service that she's on the Money offers because I
• 34:40
  Speaker 2: just have had so many people message me going, oh
• 34:43
  Speaker 2: v I want a financial advisor, and I go, oh, well,
• 34:46
  Speaker 2: I recommend to this person, but I actually need to
• 34:48
  Speaker 2: ask so many questions about like, oh, Beck, well what
• 34:50
  Speaker 2: are you looking for? Why do you want an advisor?
• 34:52
  Speaker 2: Because if you came to me and said, oh, Ve
• 34:55
  Speaker 2: like it's really unfortunate, but I've just come into a
• 34:58
  Speaker 2: massive inheritance, that's very different, and the type of advisor
• 35:02
  Speaker 2: I would you match you with is very different to
• 35:04
  Speaker 2: the type of advisor if you're like, oh, I just
• 35:06
  Speaker 2: really want to get my life insurance sort it, so
• 35:08
  Speaker 2: I think it's important to understand that's hard. But then
• 35:11
  Speaker 2: also so many people in our community struggle with like, well,
• 35:14
  Speaker 2: I don't have a family member or a friend that
• 35:17
  Speaker 2: can recommend a good advisor or a good mortgage broker.
• 35:20
  Speaker 2: So I will be that friend and we do that
• 35:22
  Speaker 2: in the background. Sweet. The last thing is tidy up
• 35:25
  Speaker 2: your damn filing cabinet, beck our physical one. I don't
• 35:29
  Speaker 2: know lots of us have filing cabinets. You should see
• 35:32
  Speaker 2: the drawer beside my desk. It's just full of absolute trash.
• 35:34
  Speaker 2: According to the Australian Taxation Office, you should be keeping
• 35:38
  Speaker 2: your financial records for about five years. Anything older than
• 35:41
  Speaker 2: that you can bin shred financial paperwork. Don't just put
• 35:45
  Speaker 2: it in the bin so that you know some guy
• 35:47
  Speaker 2: walking down the street can open your bin and steal
• 35:50
  Speaker 2: your personal information, shred it, rip it up into tiny
• 35:53
  Speaker 2: pieces of paper, take it to work and shred it
• 35:56
  Speaker 2: in their shredder. Like, don't just put a whole heap
• 35:59
  Speaker 2: of your information, especially on bulk, right into the bin.
• 36:04
  Speaker 2: You're asking for your identity to be stolen, Beck. If
• 36:07
  Speaker 2: you do that, but make sure that you're cleaning anything out,
• 36:10
  Speaker 2: making yourself feel fresh and refreshed and revived this year.
• 36:14
  Speaker 2: And remember that any filing system you implement should actually
• 36:17
  Speaker 2: be very quickly and very easily maintained so that you're
• 36:21
  Speaker 2: motivated to keep like your records straight. I promise if
• 36:24
  Speaker 2: you do this at the start of the year, come
• 36:26
  Speaker 2: tax time. Tax time is going to be a breeze
• 36:28
  Speaker 2: for you. Yeah. Tax time does not need to be
• 36:30
  Speaker 2: stressful this year, I promise. So those are all of
• 36:33
  Speaker 2: my hot tips, Beck. That's what I've got. I got
• 36:36
  Speaker 2: I'm fresh out.
• 36:37
  Speaker 5: Well, I was especially like that last one. I really
• 36:39
  Speaker 5: feels good when you have a clear space, get a
• 36:41
  Speaker 5: clean mind, and.
• 36:43
  Speaker 2: It's clean, like you know when you were in like
• 36:45
  Speaker 2: I don't know if you were like this, but you
• 36:47
  Speaker 2: were like I don't know, early teen, and you rearrange
• 36:49
  Speaker 2: your room like you come home and just like drag
• 36:53
  Speaker 2: everything around and make it look different, like it's that vibe.
• 36:57
  Speaker 4: But as an adult, yes, it feels really good. Exactly
• 37:01
  Speaker 4: do you have anything else before?
• 37:02
  Speaker 5: You're right now?
• 37:02
  Speaker 2: I don't. I'm fresh out.
• 37:03
  Speaker 4: She's fresh out.
• 37:04
  Speaker 2: I'm fresh out, and I need a coffee. All right,
• 37:06
  Speaker 2: let's go do it all right, Have a good week, guys.
• 37:09
  Speaker 2: We will see you on Friday. Bye.
• 37:17
  Speaker 6: The advice shared on She's on the Money is general
• 37:19
  Speaker 6: in nature and does not consider your individual circumstances. She's
• 37:23
  Speaker 6: on the Money exists purely for educational purposes and should
• 37:27
  Speaker 6: not be relied upon to make an investment or financial decision.
• 37:30
  Speaker 6: If you do choose to buy a financial product, read
• 37:33
  Speaker 6: the PDS TMD and obtain appropriate financial.
• 37:36
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