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EOFY Glow-Up: 5 Ways to Get Your Finances Together, Fast · She's On The Money

0:00
Speaker 1: My name's Sasha Bamblet. I'm a proud First Nations woman
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Speaker 1: and I'm here to acknowledge country t glennyan Ganya, Niana,
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Speaker 1: kaka ya Ya bin Ahaka Nian our gay In Nimbina,
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Speaker 1: yakarum jar Dominyama, Domaga Ithawakawaman, damon Imlan bomber bang Gadabomba
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Speaker 1: in and now in wakah ghana on yak rum jar Watnadaa. Hello,
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Speaker 1: beautiful friends, we gather on the lands of the Aboriginal people.
0:26
Speaker 1: We thank I acknowledge and respect the Abiginal people's land
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Speaker 1: that we're gathering on today. Take pleasure in all the
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Speaker 1: land and respect all that you see. She's on the
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Speaker 1: Money podcast acknowledges culture, country, community and connections, bringing you
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Speaker 1: the tools, knowledge and resources for you to thrive.
0:44
Speaker 2: She's on the Money.
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Speaker 3: She's on the Money. Hello and welcome to She's on
1:09
Speaker 3: the Money, the podcast that can't Believe the end of
1:12
Speaker 3: the financial year is all I know.
1:14
Speaker 2: I don't want to know about it.
1:16
Speaker 3: If you're feeling the same, don't worry. You're not alone.
1:18
Speaker 3: One minute it was all New Year, New me, and
1:21
Speaker 3: next you're wondering, where's all your money and motivation actually gone.
1:25
Speaker 2: I don't know, jessicap, but I need hell.
1:27
Speaker 3: It disappeared, and no, I'm not besited. I'm Jessica Ricky.
1:31
Speaker 2: I have been duped. Surprise.
1:33
Speaker 3: I'm filling in for Beck boshes away, and obviously I'm
1:36
Speaker 3: not doing this alone. Victoria Devine is here with me,
1:38
Speaker 3: ready to keep its accountable and I'm sure deliver a
1:40
Speaker 3: bit of tough love if we need it.
1:42
Speaker 4: Yeah. Absolutely, I'm the Queen of budding, and so I
1:44
Speaker 4: don't think it was a surprise that I was here
1:46
Speaker 4: during your intro. But I feel like everyone in our community,
1:49
Speaker 4: including you and I, Jess, like we're not just going
1:51
Speaker 4: oh you guys, is like us too. We love to
1:53
Speaker 4: set big, really shiny goals at the start of the year.
1:56
Speaker 4: But if we've learned anything from our past episodes that
2:00
Speaker 4: a year is a really long time to stay motivated,
2:03
Speaker 4: and like life happens, plans change, and by like February,
2:08
Speaker 4: I don't know, it feels like most of those resolutions
2:11
Speaker 4: have already gone out the window and I've just gone back.
2:13
Speaker 2: To my old habits.
2:14
Speaker 4: But just like a halftime in sport, Jess, I guess
2:17
Speaker 4: this is where you pause and then we have a
2:18
Speaker 4: look at our strategy and we reassess, and then we
2:21
Speaker 4: head back out with a stronger and better game plan.
2:24
Speaker 3: You're the coach here to give us a rousing.
2:27
Speaker 2: The coach.
2:28
Speaker 4: I don't know if you'd want me to coach anything,
2:30
Speaker 4: because you'd be like, oh, this is really hard, and
2:32
Speaker 4: I'd be like, baby, you don't have to do that,
2:34
Speaker 4: Like that's the best thing about sport, you don't have
2:37
Speaker 4: to do them. But first, I guess when putting this
2:42
Speaker 4: episode together, I really wanted you to remember to look
2:45
Speaker 4: at your expenses and you're spending from the last six months,
2:48
Speaker 4: and like, I know that this might not be the
2:51
Speaker 4: most fun way to.
2:51
Speaker 2: Spend your time.
2:53
Speaker 4: But if you're in a country like Australia who follows
2:56
Speaker 4: the end of financial year, which is on June thirty
2:59
Speaker 4: a happy birthday to me, there is also some serious
3:02
Speaker 4: benefit in getting this done before the end of financial year.
3:05
Speaker 2: Also, like New Year, knew me, Like first of.
3:09
Speaker 4: July can be like your new financial year, but like
3:12
Speaker 4: you don't have to start then because you've already made
3:14
Speaker 4: the plan already.
3:14
Speaker 2: Yeah, does that make sense? And like the sales are everywhere.
3:18
Speaker 4: I feel like I've already started seeing them ramp up,
3:20
Speaker 4: which is absolutely wild. I saw someone on social media
3:23
Speaker 4: the other day saying, oh, e f y sales coming soon, and.
3:26
Speaker 2: I was like, guys, what the heck?
3:29
Speaker 4: But if we're smart, we can actually use this coming
3:32
Speaker 4: season to our advantage instead of just getting swept up
3:35
Speaker 4: in the marketing height, which I think a lot of
3:37
Speaker 4: us do every single year. And I guess another reason
3:40
Speaker 4: we look at six months of spending data is because
3:44
Speaker 4: I guess that shows you the real cumulative cost of
3:47
Speaker 4: your habits. So those sneaky little expenses that don't feel
3:51
Speaker 4: like a big deal. In a moment, you realize, oh,
3:54
Speaker 4: that fifty dollars on Uber eats feels kind of harmless
3:57
Speaker 4: right now. But then we zoom out, You've already spent
3:59
Speaker 4: thirteen hundred dollars in the last six months.
4:01
Speaker 2: Yeah, do you know what I mean?
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Speaker 4: Like, yeah, I think you and I go, oh, fifty
4:04
Speaker 4: bucks on a new top. Like I feel like, in
4:06
Speaker 4: this economy, fifty dollars on your new top's a good deal,
4:09
Speaker 4: But like, if you're doing that every single week, that's
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Speaker 4: thirteen hundred dollars, like that total, and having that cost
4:18
Speaker 4: be maybe a little bit confronting can actually help you
4:21
Speaker 4: realize that maybe that spending wasn't a part of your
4:23
Speaker 4: goals or values, and like you don't have to continue
4:26
Speaker 4: that way. We can, I guess, reallocate that money to
4:29
Speaker 4: something that is a little bit more fun, but also
4:32
Speaker 4: something more in line with our values, like maybe a
4:34
Speaker 4: holiday fund or paying off your credit card debt that's
4:37
Speaker 4: really stressing you out. And I guess once you have
4:40
Speaker 4: all your expenses together, I want to like play a
4:43
Speaker 4: game with it.
4:44
Speaker 2: It's like shoot Mary Kill. Yeah, shoot Mary.
4:47
Speaker 3: Kill, very aggressive. I played kiss Mary Kill.
4:49
Speaker 2: Oh do you yeah?
4:51
Speaker 4: Oh well, maybe it's a little bit different in our house.
4:54
Speaker 4: We're going to play that with our money, but we're
4:56
Speaker 4: going to like reframe it a little bit. It's going
4:58
Speaker 4: to be keep, cut and switch. That's not as good,
5:01
Speaker 4: not as sexy said. If you want to use and
5:02
Speaker 4: shoot Marry kill, you can. I feel like it's a
5:06
Speaker 4: little bit more dramatic, but like keep, that's probably Marry
5:10
Speaker 4: if you're playing that version of the game. Keep is
5:13
Speaker 4: the things that I think genuinely bring value into your life.
5:16
Speaker 4: These are the things think of it as your like
5:19
Speaker 4: financial non negotiables, Like girl, we're paying rent, like I'm
5:22
Speaker 4: sorry you have to pay you your utilities. Like if
5:25
Speaker 4: you do go to the gym regularly and you love
5:26
Speaker 4: your gym membership, like that goes in that bucket, but
5:29
Speaker 4: only if you're actually using it. Don't try and gaslate
5:32
Speaker 4: yourself into oh, like maybe I'll keep it because in
5:35
Speaker 4: this new financial year, I'll use it. Don't line to yourself.
5:39
Speaker 4: Be ruthless, be ruthless. But like we're keeping the things
5:42
Speaker 4: that we want to keep in our lives, we want
5:45
Speaker 4: to marry, then cut that's kill. We are going to
5:48
Speaker 4: cut the stuff that isn't serving us anymore, those little
5:51
Speaker 4: expenses that we were talking about earlier that just don't
5:54
Speaker 4: align with our values. Like if you looked at this
5:57
Speaker 4: jests and said, I'm spending fifty bucks on Uber eats
6:00
Speaker 4: every single week, I love it.
6:03
Speaker 2: Pop off. Yeah, Like thirteen hundred dollars on Uber.
6:06
Speaker 4: Eats to you might be absolutely worth it, because like
6:09
Speaker 4: you're telling me that every I don't know, I'm going
6:10
Speaker 4: to make this up. Every single Friday night, you and
6:13
Speaker 4: your partner get a pizza on Uber eats and you
6:15
Speaker 4: watch one of your favorite movies and you have the
6:17
Speaker 4: best date night of your entire Life God thus worth
6:20
Speaker 4: thirteen hundred bucks over six months. But if you're like, oh,
6:23
Speaker 4: because they didn't want to cook, and I couldn't be
6:26
Speaker 4: bothered getting up and walking to the freezer to see
6:28
Speaker 4: if there was any chicken nuggets, So we ordered chicken nuggets.
6:33
Speaker 2: Do you know what I mean? Like, that's clearly not
6:35
Speaker 2: serving you, So we want to cut those things.
6:37
Speaker 4: They might be subscriptions that you forgot about, all the
6:40
Speaker 4: healthy insurance extras that you don't even know that you're
6:43
Speaker 4: currently paying for because you need to review them. And
6:46
Speaker 4: then we've got switch, which I think is shoot because
6:49
Speaker 4: you might survive rush. But like there's switch and this
6:52
Speaker 4: is where you shop around and negotiate a better deal
6:55
Speaker 4: on things like your energy bills, your health insurance, your
6:58
Speaker 4: phone plan, and basically anywhere that you are paying. The
7:02
Speaker 4: infamous loyalty tax we did a whole episode, Jess, was
7:05
Speaker 4: that you and I back in the day. I feel
7:07
Speaker 4: like we did the loyalty tax episode together.
7:09
Speaker 3: I've done one I don't remember.
7:11
Speaker 4: Just key in loyalty Tax. She's on the money, and
7:14
Speaker 4: the episodes we've done on that will come up. But
7:16
Speaker 4: like that's where it's shoot, getting the gun out if
7:19
Speaker 4: you don't get us a better deal, leaving, that's very leaving,
7:25
Speaker 4: But like we're going to switch, Like I am not
7:27
Speaker 4: being held hostage by loyalty tax I don't care if
7:31
Speaker 4: you've been with a company you for like, oh yeah,
7:33
Speaker 4: but they sent me their premiums and sent congrats for
7:35
Speaker 4: being a member for nine years.
7:37
Speaker 3: What are you really getting?
7:38
Speaker 2: What are you getting out of that?
7:39
Speaker 3: Yeah?
7:40
Speaker 2: Is it a discount? Because if it's not, I don't
7:42
Speaker 2: want it.
7:42
Speaker 3: Amen.
7:43
Speaker 2: The best part is at the end of the financial year.
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Speaker 2: I think this is the best time to do with it.
7:48
Speaker 4: This is when all the private health insurance companies they
7:50
Speaker 4: go fishing because the medicare surcharged levy that is going
7:53
Speaker 4: to come into effect by June thirty, which means if
7:55
Speaker 4: you earn over a certain amount and you don't have
7:57
Speaker 4: private health insurance, you have to pay more. And they
8:00
Speaker 4: know that you are going to scramble to get health insurance.
8:03
Speaker 4: So if you already have it, why not use it
8:05
Speaker 4: as the best time to get a better deal. Be
8:07
Speaker 4: like you are offering this to other people, I would
8:09
Speaker 4: like that deal, And I mean this is when lots
8:11
Speaker 4: of different providers are throwing around. I would say juicy benefits,
8:15
Speaker 4: like you might get one month free of cover, or
8:17
Speaker 4: a gift card or something for joining up, or even
8:20
Speaker 4: just a discount on the deal that you already had,
8:22
Speaker 4: like this is a good deal, yess.
8:25
Speaker 3: Yeah, absolutely. And another really great way to make the
8:27
Speaker 3: most of end of financial year is to take a
8:29
Speaker 3: look at what is actually already on your keyp list
8:31
Speaker 3: and see if there's anything that's going on sale.
8:33
Speaker 2: So can rent go on sale? O? Girl can dream? Yeah?
8:36
Speaker 4: Can you imagine if you like able to negotiate and
8:39
Speaker 4: you're like, landlord is marketing your rent?
8:41
Speaker 3: Ah, I wish I'd be going to bat for that.
8:44
Speaker 3: I'll tell you what. But if there's a software subscription
8:46
Speaker 3: that you rely on, check if they're running an end
8:47
Speaker 3: of financial year discount, or maybe if you're happy with
8:50
Speaker 3: your current insurance provider, like you are saying, that's great,
8:53
Speaker 3: but can you take them a competitors price and see
8:56
Speaker 3: if you can, you know, say, hey, give it to me,
8:58
Speaker 3: put the gun to the head. I'm gonna walk somewhere else.
9:01
Speaker 4: But like it kind of makes sense, Like I'm so sorry,
9:04
Speaker 4: but we're in the cost of living crisis and my
9:06
Speaker 4: job is to help you financially, Like even if you
9:09
Speaker 4: threaten to quit, like this is a little bit unhinged,
9:12
Speaker 4: but like even if you're like I really like this,
9:15
Speaker 4: like software that I used, and I'm not going to
9:17
Speaker 4: name names because like we don't want to, but Jess,
9:19
Speaker 4: you and I know well that there is one very
9:21
Speaker 4: popular software. If you go through their settings and you
9:24
Speaker 4: go cancel my account, you're just toying with the idea.
9:26
Speaker 4: You're just having a look to see what happens if
9:29
Speaker 4: you hit cancel my account, because.
9:30
Speaker 2: You always get it back.
9:32
Speaker 4: They go, oh, you sure you want to leave, We'll
9:33
Speaker 4: give you a fifty percent discount, and go, oh, what
9:35
Speaker 4: a coincidence.
9:37
Speaker 3: I guess I'll stay.
9:38
Speaker 4: Yes, I'll stay to look around and even google the
9:42
Speaker 4: software that you use and be like, how to get
9:44
Speaker 4: a discount on software xyz because sometimes there are little
9:48
Speaker 4: loopholes like threatening to cancel, and they're like, oh, well,
9:53
Speaker 4: here's our retention strategy. You didn't even have to call
9:56
Speaker 4: anyone on the phone, and you saved fifty percent on
9:58
Speaker 4: your very expensive software that edit things.
10:00
Speaker 3: One hundred percent, say less. And it's about keeping what
10:03
Speaker 3: you love but making sure you're getting the best possible deal.
10:05
Speaker 2: I think that is a good deal. Like again, shoot,
10:09
Speaker 2: and I'm.
10:10
Speaker 3: Looking, I think we've got like some real aggression problems
10:12
Speaker 3: in this team.
10:13
Speaker 2: Well I do, because I'm just like, why am I
10:15
Speaker 2: paying so much for software?
10:16
Speaker 4: Anyway, that's beside the point, Like this isn't a green
10:20
Speaker 4: light though, jes just to go rogue with your credit card.
10:22
Speaker 4: But if you know that you're going to like need
10:25
Speaker 4: things that are work related expenses, so like equipment, maybe
10:29
Speaker 4: you've been going, oh, I work for myself and I
10:31
Speaker 4: need a new laptop. Or even if you like regularly
10:34
Speaker 4: buy things like skincare or household staples, I reckon the
10:39
Speaker 4: end of financial year sales are a literal perfect time
10:42
Speaker 4: to buy them at a discount, stock up for the
10:44
Speaker 4: upcoming year exactly, Like look at those expenses and be like, okay, cool,
10:48
Speaker 4: Like what is one thing that I bought over that
10:50
Speaker 4: last six months? Maybe you do buy two of your
10:53
Speaker 4: favorite moisturizer while that website has a forty percent discount
10:57
Speaker 4: because you're like, I know in the last six months
10:59
Speaker 4: I've used to and they're not going to go off
11:00
Speaker 4: in that time. I'll just buy two so it gets
11:02
Speaker 4: me through to the end of the year. Maybe I'll
11:04
Speaker 4: stuck up again at Christmas. Yeah, like when Christmas sales
11:07
Speaker 4: are on.
11:08
Speaker 3: What are some other end of financial year reminders people
11:10
Speaker 3: should keep in mind.
11:10
Speaker 2: I've written down a couple, so bear with me.
11:12
Speaker 4: But another thing that future you is definitely going to
11:15
Speaker 4: thank you for is topping up your super jessic Ici.
11:18
Speaker 4: We want to do that before June thirty though, so
11:21
Speaker 4: that we can take advantage of concessional which is before tax,
11:24
Speaker 4: and non concessional, which is after tax contribution caps if
11:28
Speaker 4: you can. So those have moved now, and I don't
11:31
Speaker 4: think most people in our community can max out there
11:33
Speaker 4: super like, just because I don't want you to think, oh,
11:36
Speaker 4: Victoria is being unrealistic, Like the cap is thirty thousand dollars.
11:39
Speaker 4: I'm not going to contribute thirty thousand dollars to my super.
11:42
Speaker 2: This year, like go, it's just a cap.
11:45
Speaker 4: Yeah, even an extra few hundred dollars or fifty bucks
11:49
Speaker 4: to your super could be really good. And if it's
11:52
Speaker 4: come from your bank account, come tax time, you will
11:55
Speaker 4: get a refund on the tax that you already paid, because,
11:58
Speaker 4: for example, the supernuation tax environment is fifteen percent. But
12:03
Speaker 4: most people in our community, I would say have an
12:05
Speaker 4: average tax rate of thirty percent. That means a fifteen
12:08
Speaker 4: percent return on the money that you deposited.
12:10
Speaker 3: That's pretty appealing.
12:11
Speaker 2: That's pretty appealing.
12:12
Speaker 4: And for a lot of us, I know we're asking
12:15
Speaker 4: questions like, oh, my super fuels behind, or I want
12:17
Speaker 4: to get a little bit ahead, like small steps in
12:20
Speaker 4: the right direction, Like we don't need to have thirty
12:22
Speaker 4: thousand dollars to max out our super Like a few
12:24
Speaker 4: dollars here and there over the long term could actually
12:27
Speaker 4: compound and put future you when future you is retiring
12:31
Speaker 4: in the.
12:31
Speaker 2: Best possible position.
12:32
Speaker 3: And we love that we do.
12:33
Speaker 4: I feel like that's a win win, and Jess I
12:36
Speaker 4: would say, this is something that you want to look
12:37
Speaker 4: at right now, like not the twenty ninth of June,
12:41
Speaker 4: because one thing that a lot of people do not
12:44
Speaker 4: realize is that the contributions have to clear, so like
12:47
Speaker 4: they have to hit your superanuation account before the end
12:51
Speaker 4: of financial year to count. You can't just go, oh,
12:54
Speaker 4: but I transferred it on the twenty ninth of June,
12:56
Speaker 4: But then maybe your superannuation account doesn't have OSCO and
12:59
Speaker 4: it didn't hit like July second.
13:01
Speaker 2: Sorry, it falls into the new and.
13:03
Speaker 3: A lot of people start doing them at end of
13:05
Speaker 3: financial ye. I know, my super has a notification that
13:08
Speaker 3: pops up usually in the app that says, hey, like,
13:10
Speaker 3: if you're planning on making contributions to it two weeks
13:12
Speaker 3: prior to allow for process.
13:13
Speaker 4: You just want to make sure that, like you're dotting
13:15
Speaker 4: all your eyes and crossing all your te's, so like
13:17
Speaker 4: if you did it so that you could reap the
13:19
Speaker 4: tax benefits, you actually can. And I think that that's
13:23
Speaker 4: important because not alsubanuation funds have the easiest processing systems,
13:30
Speaker 4: so it's easy for you to transfer, but then their
13:32
Speaker 4: processing is like maybe a bit more manual, And that
13:34
Speaker 4: doesn't mean they're bad, It just means it takes a
13:36
Speaker 4: little bit longer totally.
13:37
Speaker 3: And that's applicable to anyone who wants to use the
13:39
Speaker 3: first home Super Savior scheme as well.
13:41
Speaker 4: So the first time Super Saviors scheme. I was explaining
13:44
Speaker 4: this to a friend the other night, maybe maybe I'd
13:47
Speaker 4: had a few ones, and I was like, girl, it
13:49
Speaker 4: is the closest thing to money laundering that you can
13:51
Speaker 4: get to in Australia because you can put your cash
13:54
Speaker 4: in and then you can take it out and you
13:56
Speaker 4: can get a refund.
13:57
Speaker 2: Let me love, you can get a lower tax, that's right.
14:00
Speaker 4: And they were like, Victoria, you all right, And I
14:02
Speaker 4: was like, girl, if you are buying your first home
14:04
Speaker 4: and you're not using this system even like to put
14:08
Speaker 4: fifteen granding because you're planning on buying really soon and
14:10
Speaker 4: you actually can't use it over the long term, is
14:13
Speaker 4: that not free money?
14:14
Speaker 2: Jes Totally yeah, but it is free money.
14:17
Speaker 4: And I explain, like again, I told you guys before
14:20
Speaker 4: that the superannuation tax environment is fifteen percent and most
14:24
Speaker 4: of us are on a marginal tax rate of thirty percent.
14:27
Speaker 4: If you're higher than that, like if you're even closer,
14:29
Speaker 4: like the more money you earn better the first home
14:31
Speaker 4: super sabor scheme is, and like this is one of
14:34
Speaker 4: the places where you go, you know, the rich really
14:36
Speaker 4: do keep getting richer because you'll get fifteen percent tax back, Jess,
14:41
Speaker 4: And they will too, but because they're paying more tax,
14:44
Speaker 4: they get more of a discount. So it's kind of
14:46
Speaker 4: like instant returns on your money. And the benefit is
14:49
Speaker 4: if you start saving for your first home now, but
14:51
Speaker 4: you're like, v it's going to take forever, like I'm not,
14:55
Speaker 4: and Jess, you would know this well, does not take
14:57
Speaker 4: a year or two years to save for your first
14:59
Speaker 4: time home anymore, which I think the de Lulu boomers
15:02
Speaker 4: think it does, but like it can take you ten years,
15:05
Speaker 4: but you actually get the returns on that money that
15:08
Speaker 4: was invested as well to go towards your first home.
15:10
Speaker 4: So it's not just those tax benefits, but it's also
15:13
Speaker 4: the investment returns over that period of time.
15:15
Speaker 2: Is that not super sexy?
15:17
Speaker 3: It's amazing.
15:18
Speaker 2: It's so good.
15:19
Speaker 3: And if you are thinking about buying soon, your contribution
15:22
Speaker 3: cap we've spoken about this before, but it's fifteen thousand
15:24
Speaker 3: per financial Yeah, so.
15:25
Speaker 2: You can do fifty thousand dollars over the long term.
15:27
Speaker 3: Yes, So you could drop fifteen thousand in now and
15:29
Speaker 3: then come July first you can put another fifteen you
15:32
Speaker 3: don't even need me, and then all of a sudden,
15:34
Speaker 3: there's thirty thousand ready to go.
15:37
Speaker 4: Like, if you are planning on buying this year, that's
15:40
Speaker 4: thirty thousand dollars that you can pop through that scheme.
15:43
Speaker 4: I mean, obviously this isn't personal advice, and if it
15:46
Speaker 4: works for you, fantastic. The actual best thing that you
15:49
Speaker 4: could do if you're thinking about the first home, super
15:51
Speaker 4: savor scheme, Jess, and I feel like I rant about
15:53
Speaker 4: this a lot when we talk about super is just
15:56
Speaker 4: call your super fund because Australian super versus like host plus,
16:00
Speaker 4: they're going to have like a slightly different process, Like
16:03
Speaker 4: it might just be different release forms or ways that
16:06
Speaker 4: you contributed.
16:06
Speaker 2: But just pick up the phone because you are already.
16:09
Speaker 4: Paying subernuation fees to get this advice, so it's technically
16:13
Speaker 4: free because you've already paid for it. It's how I
16:15
Speaker 4: see holidays, like if I already prepaid the holiday and
16:17
Speaker 4: then it's been a few months before I went on
16:19
Speaker 4: the holiday, the holiday was free. Yeah, girl, math, But
16:21
Speaker 4: pick up the phone and have a chat with them
16:23
Speaker 4: and be like, hey, really want to make the most
16:25
Speaker 4: of this. They can give you financial advice on that
16:29
Speaker 4: I can't. But they could say, Okay, yes, your contribution
16:32
Speaker 4: strategy looks like this to cap out this system and
16:35
Speaker 4: this is going to work this way.
16:36
Speaker 2: How good is that?
16:37
Speaker 3: We love that free advice?
16:38
Speaker 4: Yes?
16:38
Speaker 3: Please? Alrighty, what is next on your list?
16:41
Speaker 2: Okay?
16:42
Speaker 4: So I feel like we've crunched the numbers and we
16:44
Speaker 4: have faced what I believe are the cold hard facts,
16:47
Speaker 4: but it's now time to switch gears a little bit more. Yes,
16:50
Speaker 4: we're going to get reflective. No more shoot Mary kill.
16:53
Speaker 4: We're not going to play that game. After all, money
16:55
Speaker 4: isn't about mouths or guns. It's actually about how it
16:59
Speaker 4: makes you feel. And spoiler those feelings, Yeah, they're probably
17:03
Speaker 4: driving all the decisions that you make. Jess.
17:06
Speaker 2: Oh, but you knew that already.
17:08
Speaker 4: You've been on this show for long enough to know
17:10
Speaker 4: that money is inherently emotional, right, Yeah, No, and I
17:13
Speaker 4: think that reviewing the way that you feel about things
17:16
Speaker 4: is probably a very great way to expose why you have.
17:18
Speaker 3: Some of those habits that maybe you wish that you
17:21
Speaker 3: did it exactly.
17:22
Speaker 4: So let's go to a really quick break so that
17:24
Speaker 4: we can prep for getting a little bit emotional. All right,
17:31
Speaker 4: we are back, and as Jess and I promised, so
17:33
Speaker 4: we are going to get a little bit reflective. We're
17:35
Speaker 4: going to talk about our emotions because before we can
17:38
Speaker 4: plan where we're going, you actually need to fully comprehend
17:41
Speaker 4: where you've been.
17:43
Speaker 2: Like it's confronting.
17:44
Speaker 4: It can be hard understanding why you feel things about money,
17:48
Speaker 4: or why you maybe don't feel like you've caught up
17:51
Speaker 4: to your friends, or why you're so good at comparison
17:54
Speaker 4: and just doesn't seem to be good at comparison, you know.
17:56
Speaker 4: But like, reflection is so important because for me, it's
18:00
Speaker 4: not about beating yourself up or like trying to point
18:03
Speaker 4: things out about yourself that you know aren't so good,
18:06
Speaker 4: because I don't want you to fall into a guilt spiral.
18:09
Speaker 4: It's actually about awareness and creating consistent and very clear
18:14
Speaker 4: awareness because real reflection is going to give you clarity,
18:19
Speaker 4: clarity on so many things, so what you're currently doing,
18:22
Speaker 4: what you actually want in.
18:23
Speaker 2: Life, and what that's going to look like.
18:26
Speaker 4: When you know what's worked and what hasn't, and how
18:29
Speaker 4: you actually feel about your money, then you're in this
18:32
Speaker 4: really powerful position to be more empowered and be more
18:36
Speaker 4: intentional towards the decisions that you're making, and make decisions
18:39
Speaker 4: that you're like, nah, this is absolutely what I want
18:42
Speaker 4: to do, Like this is how I want to do it.
18:44
Speaker 2: And like Jess, we know that you are in.
18:47
Speaker 4: The market for buying a property at some point, but
18:49
Speaker 4: like I can always guarantee you were not able to
18:51
Speaker 4: save a house deposit without being really clear that that
18:55
Speaker 4: was a goal that you wanted, without being really clear
18:57
Speaker 4: about your budget and what you did and didn't want
19:00
Speaker 4: to spend like you are probably one of the most
19:02
Speaker 4: intentional spenders I know. But do you think that's because
19:06
Speaker 4: of your values and like understanding them or do you
19:08
Speaker 4: think you're just really good at money?
19:10
Speaker 3: No, I think it's definitely Like I'm a very goal
19:12
Speaker 3: oriented person, so it's when I have eyes on the price,
19:15
Speaker 3: it's really simple for me to go, Okay, well, you know,
19:18
Speaker 3: I can spend that fifty dollars a week or thirteen
19:20
Speaker 3: hundred dollars over six months on Uber Eats, or I
19:23
Speaker 3: can you know, have that money to put towards a
19:25
Speaker 3: house deposit. And so for me, it's really easy to
19:27
Speaker 3: separate that and having a good idea of where I'm
19:29
Speaker 3: going is something that for me personally, I find really
19:33
Speaker 3: drives those decisions and makes me stup and go, okay,
19:36
Speaker 3: well would I rather X or Y?
19:37
Speaker 2: Yeah?
19:38
Speaker 4: And you're a fashion galie like you and I consistently
19:41
Speaker 4: bond over fashion beauty, and I'm always like, oh, where's
19:43
Speaker 4: that top from? Do you think that you've sacrificed a
19:46
Speaker 4: lot about the lifestyle that you enjoy to get ours
19:50
Speaker 4: to posit? Yeah?
19:50
Speaker 3: I think there's also just ways to be smart like
19:53
Speaker 3: I one in, one out is a big rule for me.
19:55
Speaker 3: You know, I love to resell my clothing, whether it's
19:57
Speaker 3: on deepop or whether it's at clothing racks. I think
19:59
Speaker 3: there are often ways to find compromises to do the
20:02
Speaker 3: things that you want, Like if you like going out
20:04
Speaker 3: to dinner, can you use one of those apps to
20:06
Speaker 3: do the fifty percent off dinners at an early or
20:08
Speaker 3: late session. I think again, like knowing what's important, you
20:12
Speaker 3: can normally find ways to still uphold them. Maybe it's
20:16
Speaker 3: like a little bit less convenient, like I'm not wearing
20:18
Speaker 3: the newest, latest style. I'm often because I'm shopping secondhand
20:21
Speaker 3: or I'm waiting for it to go on sale.
20:23
Speaker 4: Nobody would know, Jess, you look shic all the time.
20:25
Speaker 4: Not one person has ever been like, oh, Jess, where's
20:27
Speaker 4: last season?
20:29
Speaker 3: And like anybody who cares. But I think it's sometimes
20:33
Speaker 3: letting go of the culture of needing things immediately, Like
20:36
Speaker 3: there's that thing of like you see something, oh, I
20:37
Speaker 3: can click somebody's link and have it straight away and
20:39
Speaker 3: it's at my house in two days. Getting rid of
20:42
Speaker 3: the need for that and finding like alternate ways to
20:44
Speaker 3: do things means you can still not have to sacrifice completely.
20:49
Speaker 4: Yeah, And I think it's important because there are going
20:51
Speaker 4: to be so many people listening to this who are like, oh,
20:53
Speaker 4: it's Jess, Like we know she's on Friday episodes, but
20:56
Speaker 4: like we're maybe new to the community, and when you
20:59
Speaker 4: hear just talking about money, you're like, oh, so easy
21:02
Speaker 4: for her, She's so good at it, Jess. When you
21:05
Speaker 4: started at she's on the money, I believe you had
21:08
Speaker 4: just gotten out of a whole heap of credit card
21:10
Speaker 4: debt I had, So you kind of started from scratch,
21:15
Speaker 4: like you weren't someone who was like, oh, I've just
21:17
Speaker 4: always been kind of good at money. No, I don't
21:19
Speaker 4: understand those people. Just for the record, like if you are,
21:21
Speaker 4: I'm just envious, Like this is just my jealousy showing through.
21:24
Speaker 4: I think it's important to also preface that you didn't
21:28
Speaker 4: just always be good at money, right.
21:30
Speaker 3: No, not at all. I listened to the show before
21:33
Speaker 3: I were it here, and that was what taught me. Remember, yeah,
21:36
Speaker 3: I'm an o G Season one girly and so I, yeah,
21:40
Speaker 3: I had a lot of credit card debt. I think
21:41
Speaker 3: at its peak, I had like eight thousand plus dollars.
21:44
Speaker 2: That would have been so stressful across your credit cards.
21:46
Speaker 3: And it was a lot, and you know, I paid
21:48
Speaker 3: it all off and I used every dollar pretty much
21:50
Speaker 3: that I had to pay it off. And I was like, okay,
21:52
Speaker 3: well now I need to save an emergency fund and okay,
21:54
Speaker 3: I can start saving a house.
21:55
Speaker 4: Was it?
21:55
Speaker 3: And it's been well, I'm this is my fifth year
21:58
Speaker 3: here and in that time, I've got a six figure
22:00
Speaker 3: house to possible.
22:01
Speaker 2: Ah, that's so sexy. Yeah, and you've been on overseas trips.
22:06
Speaker 4: You are always still spending on like fashion and enjoying life,
22:10
Speaker 4: Like I swear you're at brunch every second weekend, but
22:13
Speaker 4: I watch you on socials.
22:14
Speaker 3: Yeah, I feel like I still live a life that
22:16
Speaker 3: I'm really happy to you. And you know, I don't
22:19
Speaker 3: feel like I'm overwhelmingly missing so proud of you.
22:22
Speaker 2: That is so exciting.
22:23
Speaker 4: But I think that when we aren't, you know, prioritizing things,
22:27
Speaker 4: and we aren't clear on our goals and what we
22:29
Speaker 4: want to achieve, and we don't have the tools that
22:31
Speaker 4: we deserve to get out of it, we can often
22:33
Speaker 4: fall into like sneaky little habits that like kind of
22:37
Speaker 4: self sabotage ourselves. Like I remember when I was getting
22:39
Speaker 4: out of debt. Like there would be periods of time
22:41
Speaker 4: where I'm like, I'm so motivated, I'm going to smash
22:43
Speaker 4: this out, and then.
22:44
Speaker 2: I'd be like, why am I bothering?
22:46
Speaker 4: Yeah, like pull more money on my credit card, and
22:48
Speaker 4: it became like a little cycle that I then have
22:50
Speaker 4: to break again, and like, you can't just pull yourself out.
22:53
Speaker 4: But I think that if you're ignoring your bank balance
22:56
Speaker 4: and you don't know how much is in there, or
22:57
Speaker 4: you don't know exact debt numbers, or you you know,
23:00
Speaker 4: you're not really sure when you're next after pay amount
23:04
Speaker 4: is coming out, like pull your head out of the
23:06
Speaker 4: sand and just know the numbers. Because knowledge is power.
23:09
Speaker 4: Doesn't mean that you're immediately in a better position. It
23:12
Speaker 4: doesn't mean that you're immediately able to get out of
23:15
Speaker 4: that debt, which I mean we all wish, but it
23:18
Speaker 4: does mean that you're better prepared for it and it's
23:20
Speaker 4: not going to take you by surprise. I think that
23:23
Speaker 4: self sabotage is a massive part of staying in debt
23:27
Speaker 4: because we kind of just have our heads in the
23:28
Speaker 4: sand and we're like, oh, like you know, you don't
23:31
Speaker 4: get into eight thousand dollars worth of credit card debt
23:33
Speaker 4: by getting into the first thousand and thinking, well.
23:35
Speaker 2: That was fun.
23:35
Speaker 4: I'd love some more debt, right, Yeah, you do it
23:38
Speaker 4: because you're like, I'm just going to pretend it's not there,
23:40
Speaker 4: and I know that I haven't maxed this out yet,
23:43
Speaker 4: like you just keep rolling.
23:45
Speaker 2: So I think it's really important.
23:46
Speaker 4: To do that.
23:47
Speaker 3: And six months is a really good amount of time,
23:49
Speaker 3: I feel like to set yourself new goals, like it
23:51
Speaker 3: feels sometimes thinking a year ahead can be overwhelming when
23:54
Speaker 3: you're already in that mindset. So can you give us
23:57
Speaker 3: some ideas what can we do and sit down right
23:59
Speaker 3: now to prep for the next six months. In terms
24:01
Speaker 3: of reflecting a.
24:02
Speaker 2: Little bit, I've written a list.
24:03
Speaker 3: I'll get it.
24:04
Speaker 4: We're gonna journal where I love a list. I'm an
24:07
Speaker 4: ADHD girly through and through. So my entire note section
24:10
Speaker 4: is lists. Yeah doesn't mean I remember them, but I
24:12
Speaker 4: have written another one for this episode. So we are
24:15
Speaker 4: going to get a journal or maybe you like I
24:17
Speaker 4: don't journal v We'll just take a quiet moment and
24:19
Speaker 4: ask yourself these questions.
24:20
Speaker 2: So the first is what were your three biggest money
24:25
Speaker 2: wins this year?
24:25
Speaker 4: Like, what were your three biggest financial wins big or
24:28
Speaker 4: small doesn't have to like be something that other people
24:32
Speaker 4: would look at, Like it can just be for you.
24:35
Speaker 4: But like maybe you finally started prioritizing an emergency fund
24:39
Speaker 4: and like maybe there's not heaps in there, but like
24:42
Speaker 4: it exists. Maybe you negotiated a better salary or even
24:45
Speaker 4: just survived without dipping into your savings.
24:48
Speaker 2: Like wins are wins.
24:50
Speaker 4: Then I want you to be real with yourself and ask, well,
24:53
Speaker 4: what financial habit so over the last six months have
24:56
Speaker 4: kind of slipped. We're all guilty of this, right, Like
24:58
Speaker 4: we're all guilty, I would say, of a little bit
25:01
Speaker 4: of convenience spending, a little bit of who cares? Like
25:05
Speaker 4: this price is gone up, I'm not going to look
25:07
Speaker 4: for a better deal. Like I want you to be honest.
25:10
Speaker 4: Did your meal prepping did it disappear by February? Like
25:14
Speaker 4: would be like I'm going to be a meal prepping queen.
25:16
Speaker 4: I've watched all these meal prepping tiktoks and then all
25:18
Speaker 4: of a sudden, you're like, meal prepping is not for me.
25:21
Speaker 3: Bought all the containers Yarrell in the drawer?
25:24
Speaker 2: Yep, did you go?
25:25
Speaker 4: You know what I'm going to buy like only a
25:27
Speaker 4: coffee out once we're I'm going to make it at home,
25:29
Speaker 4: and then you're like, look at your wallet and you
25:31
Speaker 4: have five different coffee loyalty cuts, Like, what's going on, babe,
25:35
Speaker 4: what's happening there?
25:36
Speaker 2: Like it's not about shame.
25:37
Speaker 4: I think that we can look at these things and
25:39
Speaker 4: be like, oh, this is just a pattern, like what's
25:41
Speaker 4: going on here? More often than not, it's just convenience. Yeah,
25:44
Speaker 4: And it's maybe something that you're like, I didn't realize
25:46
Speaker 4: how much I valued that. I do want to make
25:48
Speaker 4: a little bit more space in my budget so that
25:51
Speaker 4: I can continue to enjoy that because like I tried
25:53
Speaker 4: to cut it out, I don't want to or on
25:55
Speaker 4: the flip side, you go, I really need to tighten
25:58
Speaker 4: my belt, Like I really need to just not to
26:00
Speaker 4: do that anymore. And then the big question, the last
26:03
Speaker 4: question is how are you actually feeling about money right now?
26:07
Speaker 4: Like I recorded an episode before this episode, and it
26:11
Speaker 4: was like a solo episode because I just think that
26:14
Speaker 4: life and money and life is just it's so heavy
26:17
Speaker 4: right now. I feel like with everything going on economically
26:20
Speaker 4: and then everything going on financially, like it feels like
26:24
Speaker 4: life is expensive.
26:25
Speaker 2: It doesn't matter who you are.
26:26
Speaker 4: And I'm not saying that, Oh, Victoria feels like life's expensive,
26:30
Speaker 4: Like how privileged?
26:31
Speaker 2: What a twitt? It does?
26:32
Speaker 3: Though?
26:33
Speaker 4: Life was like and like every single time I go
26:36
Speaker 4: to the supermarket, I find it a privilege that I
26:38
Speaker 4: can afford to pay for my groceries. But I'm often
26:40
Speaker 4: mind boggled at how much I'm spending, and I'm like.
26:43
Speaker 2: What is this like? And I'm you know, yes, let's
26:47
Speaker 2: be honest, I have the money, but.
26:49
Speaker 4: That doesn't mean that I want to, you know, blow
26:51
Speaker 4: the budgets that I've set for myself just purely because
26:54
Speaker 4: I can. Yeah, Like I I'm often mind boggled at
26:59
Speaker 4: how much things are and I just go, how do people.
27:01
Speaker 2: Who aren't business owners?
27:03
Speaker 4: Like?
27:03
Speaker 2: How do we get by?
27:04
Speaker 4: And my husband and I were talking about this the
27:06
Speaker 4: other night, and I was like, Steve, I reckon that
27:09
Speaker 4: one hundred thousand dollars, which used to be to me
27:12
Speaker 4: like one day I'm going to earn one hundred grand
27:14
Speaker 4: like that was like my when I was twenty one,
27:16
Speaker 4: like that was my big dog goal. I reckon, one
27:19
Speaker 4: hundred thousand is the new sixty thousand, like, and that
27:23
Speaker 4: I think is pretty astronomical to say, but I would
27:27
Speaker 4: say that, you know, ten years ago more sadly, when
27:31
Speaker 4: I entered the workforce, it's more than that.
27:32
Speaker 2: It was probably more than fifteen years.
27:34
Speaker 4: Right, But when I officially enter the workforce, I remember,
27:37
Speaker 4: sixty thousand dollar income was really cushy, Like it was
27:40
Speaker 4: a good income. You could pay your rent, you could
27:42
Speaker 4: save a bit, you could like still have a good
27:44
Speaker 4: lifestyle if you're earning sixty thousand dollars now, like you
27:48
Speaker 4: are budgeting, you are cutting things like I can alwayst
27:51
Speaker 4: guarantee a lot of people in those situations, like well,
27:53
Speaker 4: I just don't have the capacity to say for a
27:55
Speaker 4: home right now. And I'm having these conversations every day,
27:57
Speaker 4: and I just I don't want you to feel like
28:01
Speaker 4: we are saying focus on your budget because you'll all
28:04
Speaker 4: of a sudden be able to afford a house. Like
28:06
Speaker 4: I just want you to know that life is hard
28:09
Speaker 4: and life is heavy, and these things can be confronting.
28:13
Speaker 4: But if we can talk about how money is actually
28:15
Speaker 4: making you feel in this moment, even if it's good,
28:18
Speaker 4: even if it's bad, Like I want to know, are
28:21
Speaker 4: you feeling stressed, You're feeling empowered? Are we a little
28:23
Speaker 4: bit avoidant? We motivated? Like there is genuinely no wrong
28:27
Speaker 4: answer here, but it is a super powerful check in
28:30
Speaker 4: to go, well, what can I do about that? Like
28:34
Speaker 4: how you feel about money is going to drive the
28:38
Speaker 4: decisions you make around money. Yeah, and if your head
28:41
Speaker 4: is staying in the sand around you know, even your
28:43
Speaker 4: budget or your credit card, I can promise you that
28:46
Speaker 4: that is impacting your ability to increase your income because
28:49
Speaker 4: we're not talking about money, Like we need to be
28:51
Speaker 4: consistently talking about money. We need to be having these
28:54
Speaker 4: open conversations because you cannot fix what you aren't acknowledging
29:00
Speaker 4: honestly having this conversation. And I mean I'm having a
29:02
Speaker 4: conversation just with you and our community who listen to
29:06
Speaker 4: money podcasts. I think they're a little bit ahead of
29:08
Speaker 4: the game the most people, right, Yeah, but like you
29:10
Speaker 4: might actually surprise yourself with just how far you've come,
29:14
Speaker 4: because I think if you ask me that question, Jess,
29:17
Speaker 4: like money, it still makes me anxious in a way,
29:21
Speaker 4: Like I still get a little bit of anxiety checking
29:23
Speaker 4: my bank account, and I think that's just because, like
29:25
Speaker 4: I know there's gonna be money in there. But like
29:28
Speaker 4: even business banking accounts, Like I'm consistently over analyzing, well,
29:33
Speaker 4: what's in there, what's coming out? What's payroll got to do?
29:35
Speaker 4: Like what overheads are we paying?
29:37
Speaker 2: What's rent? Like, when's that coming out?
29:39
Speaker 4: And I know that these are like, oh whatever, Victorialy's
29:42
Speaker 4: problems aren't that big in hindsight, but like, we all
29:45
Speaker 4: do that, and I think it's so important for you
29:47
Speaker 4: to understand that. You know, I think because I know
29:50
Speaker 4: that lots of people put me on a financial pedestal.
29:52
Speaker 4: You go, she's good at money. Yeah, but that doesn't
29:56
Speaker 4: mean I'm not a little bit anxious. Like that doesn't
29:58
Speaker 4: mean I'm not a little bit like ooh, like I
29:59
Speaker 4: don't like that. That doesn't mean that every time I
30:02
Speaker 4: log into my shared trading accountant is down, I'm like whatever,
30:04
Speaker 4: I fully understand the markets. Yeah, I hate seeing that
30:09
Speaker 4: no one likes red cool red. What would you say
30:12
Speaker 4: if I ask you that question? Yeah, I think more
30:15
Speaker 4: than ever, I'm the same.
30:16
Speaker 3: I do find money overwhelmingly stressful lately, and I'm finding
30:22
Speaker 3: more and more, Like I've said before, like I'm very
30:25
Speaker 3: happy to cut things from my budget. I know that
30:27
Speaker 3: I definitely have luxuries that I can fork out if
30:30
Speaker 3: I need to, but it's getting harder.
30:33
Speaker 2: To trim the fat without feeling like you're missing out.
30:36
Speaker 3: Yeah, one hundred percent. You know, we've had to increase
30:38
Speaker 3: our grocery budget by almost one hundred dollars a month,
30:42
Speaker 3: and it's like it doesn't sound like a crazy amount
30:44
Speaker 3: of money, but you really feel it, Like, you know,
30:47
Speaker 3: we are way more conscious of how much heating we're
30:50
Speaker 3: using in the house. Like I find myself, I did
30:53
Speaker 3: that thing that what is it? I didn't do it
30:55
Speaker 3: with tampons, but it's this example that I've seen on
30:57
Speaker 3: social media where they say the first thing women always
30:59
Speaker 3: put back is tampons, which wasn't the example for me,
31:02
Speaker 3: but really at the shops and we were over what
31:04
Speaker 3: we had planned to spend by quite a lot, I
31:06
Speaker 3: was doing the shop and so I just put back
31:08
Speaker 3: like a couple of the snacks that I'd picked up
31:10
Speaker 3: because I was like, I don't need you know, the
31:11
Speaker 3: bags of chips whatever, Like it's fine, Like I'm not,
31:14
Speaker 3: you know, going hungry. It's nobody's stress. But I was like, well,
31:17
Speaker 3: I can't pay for that because as soon as you start,
31:21
Speaker 3: you know, if every week I go over and over
31:22
Speaker 3: and over all of a sudden, there's not enough money there,
31:25
Speaker 3: and like, I found that quite stressful. And it's not
31:27
Speaker 3: because I can't afford back of chips, obviously I can,
31:29
Speaker 3: but it was that, oh my gosh, like we've gotten
31:32
Speaker 3: to a point where I'm even having to trim such
31:35
Speaker 3: a small feeling luxury and of course I can like
31:38
Speaker 3: I don't need it with as I said, no, got it,
31:40
Speaker 3: Like I.
31:41
Speaker 4: Want to stress, like I'm still meeting your savings goals
31:44
Speaker 4: and whatnot, and just as someone that's like really prioritizing that.
31:47
Speaker 3: But it's not a nice feeling. No, it's really confronting,
31:50
Speaker 3: and it's really hard because you know, I work a
31:52
Speaker 3: second job or I have a side hustle, Like I feel,
31:56
Speaker 3: as you said, like I'm quite good with money, and
31:58
Speaker 3: it's crazy to me that I go, I feel like
32:00
Speaker 3: I'm very on top of it, and even then it's
32:03
Speaker 3: still sometimes just so hard. Yeah, And I'm sure that
32:07
Speaker 3: I'm probably not the only person feeling that way.
32:09
Speaker 2: Yeah, And I feel like that's.
32:11
Speaker 4: A good conversation to be having with the community, because
32:14
Speaker 4: I think that they often look at us and our
32:16
Speaker 4: team and go, oh, they're fine. I'm like you're right,
32:19
Speaker 4: but like, I think money is inherently stressful and just
32:23
Speaker 4: because you have more of it than somebody else, yes,
32:26
Speaker 4: you could go, oh, we you so much more privilege.
32:27
Speaker 2: Yeah, I acknowledge that.
32:28
Speaker 4: I fully understand that, But that doesn't mean it's not stressful,
32:31
Speaker 4: especially if you have that history of trauma where you
32:35
Speaker 4: haven't had enough or you have gone through significant debt
32:38
Speaker 4: and you just go, I don't know, it feels like
32:40
Speaker 4: a slippery slope where you're like, I just don't want
32:42
Speaker 4: to go back there, And like it's like the small
32:44
Speaker 4: things like the chips, where you're like, that's the decisions
32:47
Speaker 4: I used to make, and you know, you extrapolate that
32:49
Speaker 4: in your head and you go, well, that's how I
32:50
Speaker 4: got there the first time, and you just get a
32:52
Speaker 4: little bit stressed about the idea that maybe you're slipping
32:55
Speaker 4: when it's not the reality of the case. I think
32:58
Speaker 4: that's human psychology, right, And like also want you to
33:00
Speaker 4: take how you're feeling about money now, like back to
33:03
Speaker 4: the community I suppose, and you can do this too
33:05
Speaker 4: right now, Jess, and think about, well, how do you
33:08
Speaker 4: actually want to feel next year, like or at the
33:11
Speaker 4: end of this year, like what's that going to look like,
33:13
Speaker 4: So to do that, ask yourself what's going to have
33:16
Speaker 4: the biggest impact on your life to get you there,
33:19
Speaker 4: and like not what looks impressive or what you think
33:22
Speaker 4: you should be doing, but like what actually is going
33:25
Speaker 4: to make things feel easier and less stressful or more
33:27
Speaker 4: exciting for the next six months, Because like the bag
33:29
Speaker 4: of Chip's example is a good one, but like those
33:32
Speaker 4: small steps over a month or over a week, Like
33:36
Speaker 4: back to that fifty dollars a week example is thirteen
33:38
Speaker 4: hundred dollars in six months, Like that becomes a lot.
33:42
Speaker 4: Like that's return flights to Bali at the moment. Yeah,
33:45
Speaker 4: Like if you want to go to Bali, like save
33:47
Speaker 4: free year, you've got the flights in the first six
33:49
Speaker 4: months and second six months. That's your accommodation, you know
33:52
Speaker 4: what I mean? Like there are small things and I'm
33:54
Speaker 4: not saying that that's exactly what we all should be doing,
33:57
Speaker 4: but like I feel like it might be you not
34:00
Speaker 4: going on a holiday to Bali, but like finally clearing
34:03
Speaker 4: off that lingering debt, Like maybe you've always just like
34:06
Speaker 4: had a rolling after pay debt and you're like, do
34:08
Speaker 4: you know what enough is enough? I am done with this,
34:10
Speaker 4: Like I'm going to get rid of that because it's
34:12
Speaker 4: been hanging over my head. Or it might be like
34:14
Speaker 4: you want to be more prepared for Christmas, and you
34:17
Speaker 4: just heard our fifty dollars a week example, and you're like,
34:19
Speaker 4: thirteen hundred bucks by Christmas.
34:20
Speaker 2: Christmas is coming to Christmas.
34:22
Speaker 4: It's like it's tomorrow basically at this point, and you
34:26
Speaker 4: could set up an automatic transfer of fifty bucks every
34:29
Speaker 4: single week into a separate account and Christmas time, you're
34:31
Speaker 4: going to be thirteen hundred dollars better off.
34:33
Speaker 2: That's a good deal.
34:34
Speaker 4: And I am already foreseeing that this coming Christmas is
34:38
Speaker 4: going to be incredibly stressful. Yeah, so like let's take
34:40
Speaker 4: that stress off ourselves. Or even if you're like, you know,
34:43
Speaker 4: different situation again, you're like, do you know what, I
34:46
Speaker 4: really want to put a cleaner into the budget, Like
34:49
Speaker 4: I just think my mental capacity needs that. I want
34:52
Speaker 4: my Saturdays back, I want to spend more time with
34:55
Speaker 4: my family, Like I think putting that into the budget
34:58
Speaker 4: is going to create the life I want to live. So, like,
35:01
Speaker 4: there's going to be lots of different examples here.
35:03
Speaker 3: Yeah, definitely, So once we've identified what that thing is,
35:06
Speaker 3: it's going to have the positive impact. We've made that
35:08
Speaker 3: our new goal for the next six months.
35:10
Speaker 2: Yeah, what are we going to do?
35:11
Speaker 4: So I spoke recently on someone Else's podcast actually about
35:15
Speaker 4: how adding friction actually helps break bad habits, but when
35:21
Speaker 4: it comes to financial goals, it's actually the opposite. We
35:25
Speaker 4: want to make it as easy as humanly possible to succeed,
35:28
Speaker 4: and you know what, the easiest way to do that
35:30
Speaker 4: just automate it. Like if I set up fifty dollars
35:34
Speaker 4: going out of your account every single.
35:35
Speaker 2: Week, like you might go, oh, yeah, v I might
35:39
Speaker 2: need that.
35:39
Speaker 4: I can almost guarantee when you look at your account
35:41
Speaker 4: and that fifty bucks isn't there, you go, oh, well,
35:43
Speaker 4: I don't have the money on X like out of sight,
35:46
Speaker 4: out of mind. The best way to create success is
35:50
Speaker 4: automation because then, you know what, it's quite manual. If
35:52
Speaker 4: you're like, oh, actually I need that fifty dollars back,
35:54
Speaker 4: I'm going to have to log in and transfer it across.
35:57
Speaker 4: You might even convince yourself it's not worth it that
35:59
Speaker 4: that point, and that that's going to give us that
36:02
Speaker 4: extra thirteen hundred dollars at the end of the month.
36:05
Speaker 4: So I think if you want to be more prepared
36:07
Speaker 4: for Christmas, which seems to be my example this episode, Like,
36:10
Speaker 4: don't just hope that you're going to have money set aside,
36:14
Speaker 4: or like you're going to get a good tax return.
36:16
Speaker 4: I want you to set up a direct debit fifty
36:18
Speaker 4: bucks a week or forty dollars a week into a
36:20
Speaker 4: separate account, because even forty bucks a week, what's that
36:23
Speaker 4: one thousand dollars by Christmas that you didn't have when
36:26
Speaker 4: you started last year. Yeah, like without having to rely
36:29
Speaker 4: on willpower as well, Jess, incredible.
36:32
Speaker 3: It sounds amazing, and I love it when you do
36:33
Speaker 3: realize that it doesn't necessarily need to be complicated. Having
36:36
Speaker 3: a few of those smart, simple little systems that a
36:39
Speaker 3: lot of apps and platforms now have for us to
36:42
Speaker 3: use means that you can do a bit of prep
36:43
Speaker 3: now and you can take the mental load off for
36:46
Speaker 3: the whole rest of.
36:46
Speaker 2: The year exactly.
36:47
Speaker 4: And before we finish up, because I know we're coming
36:49
Speaker 4: to the end of this episode, because I've been yapping
36:51
Speaker 4: for a while, I want to bring it back. I
36:54
Speaker 4: guess to that big question we asked earlier, and that's
36:58
Speaker 4: how you actually want to feel about money by the
37:00
Speaker 4: end of the year.
37:01
Speaker 2: Do you want to be calm? Do you want to
37:02
Speaker 2: be collected? Do you want to be stressed?
37:04
Speaker 4: No?
37:04
Speaker 2: Do you want to be confident? Do you want to
37:06
Speaker 2: be proud?
37:07
Speaker 4: Like, take that feeling and really hold on to it,
37:09
Speaker 4: because every single financial decision that you are going to
37:12
Speaker 4: make from here, whether it's automating a savings transfer or
37:16
Speaker 4: just like saying no to something that genuinely doesn't serve you,
37:20
Speaker 4: that feeling should be like your little guiding star. Like, remember,
37:24
Speaker 4: I want to feel this way because I said this
37:27
Speaker 4: on another podcast that I recorded. I think it goes
37:30
Speaker 4: out the week before this episode, right, I was like motivation,
37:34
Speaker 4: Like it doesn't find you. You don't just wake up
37:36
Speaker 4: one day motivated, Like you create motivation, like one little
37:39
Speaker 4: step at a time, one foot in front of the other,
37:43
Speaker 4: like choice by choice, Like you create your own motivation,
37:46
Speaker 4: like I think so many of us go, I'll do
37:49
Speaker 4: it when I'm more motivated.
37:50
Speaker 2: That's not coming. I'm sorry. You actually just have to
37:52
Speaker 2: create it yourself. Just start, just start, just do it.
37:55
Speaker 3: As nice he likes to say, I remember, six months
37:58
Speaker 3: is plenty of time to turn around. Imagine closing out
38:02
Speaker 3: the year feeling like you're completely back in control exact
38:05
Speaker 3: fiction that Let that be the thing that gives you
38:08
Speaker 3: that motivation. And if you loved this episode, make sure
38:11
Speaker 3: that you follow wherever you're listening. Share it maybe with
38:14
Speaker 3: someone who think could use a little mid year money motivations.
38:16
Speaker 4: Maybe ask them, do you want to be in my
38:18
Speaker 4: accountability partner? Like if we both do this, we'll both
38:21
Speaker 4: be in a better position in six months. That's kind
38:24
Speaker 4: of cute too. And if you like this episode, please
38:27
Speaker 4: don't forget to like and subscribe and follow us on
38:29
Speaker 4: whatever your app calls it. It really does help us
38:32
Speaker 4: bring you more of the content that you love. And
38:35
Speaker 4: we'll see you guys on Friday.
38:36
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