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Your Best Financial Year Yet: How to Set Money Goals That Actually Stick · She's On The Money

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Speaker 1: She's on the Money.
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Speaker 2: She's on the Money.
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Speaker 3: My name's Tatasha Bamblet. I'm a proud First Nations woman
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Speaker 3: and I'm here to acknowledge country. Hello, beautiful friends, we
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Speaker 3: gather on the lands of the Aboriginal people. We thank,
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Speaker 3: acknowledge and respect the Aboriginal people's land that we're gathering
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Speaker 3: on today. Take pleasure in all the land and respect
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Speaker 3: all that you see. She's on the Money podcast acknowledges culture, country,
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Speaker 3: community and connections, bringing you the tools, knowledge and resources
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Speaker 3: for you to thrive.
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Speaker 1: Hello, and welcome to She's on the Money, the podcast
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Speaker 1: that helps you feel confident with your cash, especially when
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Speaker 1: you're trying to get your life together at the start
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Speaker 1: of the new financial Here and today we are talking
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Speaker 1: all about goal setting, not the right your list and
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Speaker 1: hope for the best kind, but the kind that actually sticks.
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Speaker 1: Because I don't know about vat, but there is definitely
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Speaker 1: something about July one that just feels like a reset
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Speaker 1: to me.
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Speaker 2: For me, it feels like your reset, but like for me,
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Speaker 2: it also feels like new financial Year. Like I celebrate
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Speaker 2: this in exactly the same way you would celebrate genuine
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Speaker 2: New Years.
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Speaker 1: The party.
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Speaker 2: Well, yeah, and in finance land, everything's due on June thirty,
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Speaker 2: so it's just like a weightlifts and I can start
1:15
Speaker 2: thinking a little bit more about work life balance, you
1:19
Speaker 2: could say, for sure. And I mean it's a little
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Speaker 2: bit of acquire to new Year that I don't think
1:25
Speaker 2: enough of us are talking about, and what an opportunity
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Speaker 2: to kind of reset. Anyway, I probably should preface this
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Speaker 2: episode and say I've done a lot of reading over
1:36
Speaker 2: the last few months so that you don't have to.
1:39
Speaker 2: I've been on Matt leave and it has been incredible.
1:43
Speaker 2: And we all know I love a self development book,
1:46
Speaker 2: like very very deeply, and over the last few months,
1:49
Speaker 2: I feel like I've picked up a few of them
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Speaker 2: that are circling around the same ideas, and that is
1:55
Speaker 2: that we've been thinking about goals slightly wrong, and that
2:00
Speaker 2: is why so many people feel like they're constantly trying
2:02
Speaker 2: to start over when it comes to money. And I
2:04
Speaker 2: feel like that's going to make a really juicy episode.
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Speaker 1: It feels very real, you know, the idea of I'm
2:10
Speaker 1: feeling motivated. It's new financial year or new year or
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Speaker 1: whatever it is. I've set all these goals, I've made
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Speaker 1: all my lists and then you know, a few weeks
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Speaker 1: in everything has started to slowly fall apart. Yeah, exactly.
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Speaker 2: And I mean we've talked about this a million times.
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Speaker 2: Everyone joins the gym in January and then by February
2:25
Speaker 2: they're not going, but the gym's still making money. Yeah,
2:28
Speaker 2: And how many times can we go over the same stuff?
2:31
Speaker 2: And then you think maybe it's a you problem and
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Speaker 2: it's motivation that you're lacking, and that maybe you're not
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Speaker 2: disciplined enough. Well, maybe you're just really bad with money.
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Speaker 2: And it's not that it's never been that it never was.
2:42
Speaker 2: That it's actually a psychology problem, not a personality flaw.
2:47
Speaker 2: And I recently read a book called Think Again my
2:51
Speaker 2: very smart guy called Adam Grant, and one of the
2:54
Speaker 2: ideas that really stuck with me is that we treat
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Speaker 2: our goals often like they're permanent dis decisions. Yes, and
3:02
Speaker 2: once we set them, we're like locked and loaded and
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Speaker 2: we can't change. But he talks in this book about
3:08
Speaker 2: treating goals like hypotheses. So instead of saying, oh, this
3:12
Speaker 2: is what I'm doing and I have to stick to it,
3:15
Speaker 2: it kind of becomes this is what I'm testing based
3:18
Speaker 2: on what I know right now. And that could change
3:20
Speaker 2: into the future, but like, I'm doing the best I
3:22
Speaker 2: can with the tools and resources that I have in.
3:25
Speaker 1: This moment, that feels a lot less intense. I like that.
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Speaker 2: I feel like it's really she's on the money aligned
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Speaker 2: as well, because I'm often like, don't crucify past you,
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Speaker 2: because you know she was doing the best she could
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Speaker 2: with the tools and resource so she has So I'm
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Speaker 2: like reading along being like, yes, King get it, Yes,
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Speaker 2: I agree with this, And I think it completely changes
3:43
Speaker 2: how you respond when then things don't go to plan,
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Speaker 2: because instead of you thinking, ohmg, I've just failed. I
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Speaker 2: can't do anything, like I never set money goals that
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Speaker 2: I achieved. This means I'm bad at money, you actually think, oh,
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Speaker 2: this approach didn't work. What could I do? What could
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Speaker 2: I t? And then I went back, you're not going
4:02
Speaker 2: to be surprised by this, mister Scricci. What's my favorite booky? No, no,
4:08
Speaker 2: I do love Ikey Guy.
4:09
Speaker 1: Oh no, no, no. The Man in Babylon.
4:12
Speaker 2: Nope, I also love that book. Yeah, I do love
4:14
Speaker 2: that books. I do.
4:16
Speaker 1: I do.
4:17
Speaker 2: I actually thought that you would immediately know because I
4:20
Speaker 2: was like, I only have one book I like. But
4:21
Speaker 2: you've just tumbled me. And yes, I talk about books
4:23
Speaker 2: a lot.
4:24
Speaker 1: Grit, oh greed, Well, sorry, we were to about Grit
4:28
Speaker 1: just reasonably.
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Speaker 2: So this is a book that I've read and I
4:31
Speaker 2: reread because I just think it's really powerful. And for
4:35
Speaker 2: those of you who aren't readers, that's cool. I've done
4:38
Speaker 2: this whole podcast episode for you. But also, this person
4:40
Speaker 2: did an epic TED talk, which I'll make sure I
4:43
Speaker 2: link in the show notes. Anyway, this book is called
4:46
Speaker 2: Grit and it's by Angela Duckworth, and she talks about
4:49
Speaker 2: the power of passion and perseverance, which obviously I adore,
4:53
Speaker 2: but it really builds on this idea from Adam Grant
4:56
Speaker 2: because her whole argument is that six says is not
5:00
Speaker 2: about talent. It's not about luck or how pretty you are,
5:04
Speaker 2: or even how smart you are. It's actually about grit,
5:08
Speaker 2: which is basically passion and being persistent over a really
5:13
Speaker 2: long period of time. And like we say this all
5:16
Speaker 2: the time, like you see other people be so successful,
5:20
Speaker 2: You're like, but how I'm really smart too, Well, baby cakes,
5:24
Speaker 2: it's got nothing to do with you being smart. That
5:25
Speaker 2: person is just tenacious, Yeah, and if something didn't work
5:30
Speaker 2: for them, instead of ruminating on it and going, oh,
5:32
Speaker 2: I'm really bad at this, so I'm bad at money.
5:34
Speaker 2: I can't do it. They're like, can't be that hard.
5:36
Speaker 2: I'm gonna try again. And sometimes you've got to be
5:38
Speaker 2: a little bit du lulu.
5:40
Speaker 1: Yeah, the most successful people aren't the smartest or the cleverest,
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Speaker 1: or the funniest or the like. Isn't necessarily they're the
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Speaker 1: best at something. It's just that it's more that they've
5:50
Speaker 1: been sticking at something for.
5:51
Speaker 2: A long time time.
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Speaker 3: Yep.
5:52
Speaker 2: But you really annoying, Jess, Like, just be consistently annoying
5:56
Speaker 2: to your goal, and I think you're more likely to
5:58
Speaker 2: achieve it. I think that's where this money conversation overlay
6:03
Speaker 2: becomes really interesting, because building wealth is actually nothing about talent.
6:08
Speaker 2: Like we know that research says that people who are
6:12
Speaker 2: active traders in the market do worse than people who
6:16
Speaker 2: just picked an ETF and forgot about it. Like the
6:19
Speaker 2: returns on an ETF in general are higher than you
6:23
Speaker 2: actively trading every single day and doing heaps of research
6:26
Speaker 2: and you know, diving in and trying to be the
6:29
Speaker 2: smartest guy in the room because you just can't time
6:31
Speaker 2: the market. And that's not because you're not smart. It's
6:34
Speaker 2: just because that strategy doesn't work. And it's not about
6:37
Speaker 2: being the smartest person in the room. It's about doing
6:40
Speaker 2: I would say, relatively simple things consistently over a long
6:45
Speaker 2: period of time. But there is a catch. It's boring,
6:49
Speaker 2: no instant reward and a little dope for me, no
6:52
Speaker 2: hit and for someone like me who's a little bit
6:55
Speaker 2: adhd and you're a spicy I love instant back. And
7:00
Speaker 2: you know what, our brains hate it, yea, like our
7:02
Speaker 2: brains hate that things are boring.
7:04
Speaker 1: Yeah, O care boring things that do good stuff.
7:06
Speaker 2: For us exactly. So spending money feels good immediately, like
7:11
Speaker 2: I love spending money. Don't get me wrong. Saving money
7:15
Speaker 2: doesn't feel good. It does when it starts to compound,
7:17
Speaker 2: but that takes a long period of time. So if
7:20
Speaker 2: your entire plan relies on you consistently choosing the things
7:23
Speaker 2: that feel worse in that moment, I feel like you're
7:26
Speaker 2: going to struggle. Like that doesn't I'm not selling it
7:29
Speaker 2: to you in this moment.
7:30
Speaker 1: No, it's not sounding great.
7:31
Speaker 2: Yes, I'm going to take away the dopamine. This is
7:34
Speaker 2: going to feel terrible. Would you like to continue?
7:36
Speaker 1: Not particularly?
7:37
Speaker 2: No, well, I'm going to anyway. And that's why systems
7:41
Speaker 2: and processes matter so much, because they remove the need
7:46
Speaker 2: for you to constantly make a decision that is boring,
7:50
Speaker 2: that doesn't feel good, that doesn't set you up for success.
7:55
Speaker 2: And I have another book to come into the conversation. Oh, yes,
7:58
Speaker 2: you probably have read this one actually, and that's where
8:01
Speaker 2: the book Atomic Habits, Yeah comes in. Yeah, I have
8:04
Speaker 2: read of that one, so I feel like that's a
8:06
Speaker 2: cooler one than the richest man in Babylon. But I
8:08
Speaker 2: promise I will always give you the tips and tricks
8:10
Speaker 2: so you don't have to do it. But that's where
8:12
Speaker 2: Atomic Habits come in, because the whole idea is that
8:17
Speaker 2: your life is a reflection of your habits, not of
8:19
Speaker 2: your intentions. We can have the best of intentions but
8:23
Speaker 2: not be doing what we said we want to do,
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Speaker 2: and like you can intend on saving all the money
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Speaker 2: in the entire world, Jess, but if your habits don't
8:31
Speaker 2: support it, it's never going to happen.
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Speaker 1: Yes, I do feel past me feels personally attacked by
8:35
Speaker 1: that one.
8:36
Speaker 2: I'm sorry. But also, your habits have saved more than
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Speaker 2: one hundred thousand dollars and your habits have bought you
8:42
Speaker 2: a house, so like she's a changed woman.
8:45
Speaker 1: The proof is in the pudding. Really to do in
8:46
Speaker 1: fact work?
8:47
Speaker 2: Was it a little bit boring?
8:49
Speaker 1: Probably very much.
8:51
Speaker 2: But instead of relying on willpower, what we need to
8:55
Speaker 2: be doing is building systems. We need to be building processes.
8:59
Speaker 2: And this is about things like if every time you
9:01
Speaker 2: get paid you say to yourself, oh, just save whatever's
9:04
Speaker 2: left over, you're literally relying on discipline. But if every
9:09
Speaker 2: single time you get paid you set up an automation
9:11
Speaker 2: and it automatically moves money into savings before you even
9:14
Speaker 2: see it, now that's the system that's doing the work
9:17
Speaker 2: for you. It's taking it away from you, so there's
9:19
Speaker 2: one less decision to make. Or if you're trying to
9:22
Speaker 2: spend less, but your card is saved in every single app,
9:26
Speaker 2: connected to every single platform and you're a little bit
9:29
Speaker 2: tap happy. You're making it so easy for yourself to
9:32
Speaker 2: just overspend, like add more friction.
9:36
Speaker 1: Yeah, it's the Apple pay of it all. It makes
9:38
Speaker 1: so much sense.
9:39
Speaker 2: It's so easy, So it's not about trying harder. It's
9:42
Speaker 2: actually just about setting things up better for yourself. Yeah,
9:46
Speaker 2: and my friend, this is why I always say if
9:49
Speaker 2: you're starting a new financial year and you want things
9:52
Speaker 2: to feel really different, let's not start with a goal.
9:55
Speaker 2: Let's start with an audit. I know that that's not
9:58
Speaker 2: the sexiest thing you've ever heard. And every single person,
10:02
Speaker 2: and when I say every single person, I mean literally
10:05
Speaker 2: thousands of women who have done my money masterclass are
10:08
Speaker 2: going to agree with me here that doing an audit
10:12
Speaker 2: is going to put you in the best possible position.
10:14
Speaker 2: We're going to look at the last three months of
10:16
Speaker 2: your money, not emotionally but honestly, like you might need
10:19
Speaker 2: a glass of wine, I totally get it, or like,
10:22
Speaker 2: if you're a better person than me, maybe you need
10:24
Speaker 2: a cup of tea. But sitting down and looking at Okay,
10:28
Speaker 2: what discretionary expenses do I have? What nondiscretionary expenses do
10:32
Speaker 2: I have? Where did it go? What was working? What didn't?
10:35
Speaker 2: What patterns are showing up? WHOA, I didn't realize I
10:38
Speaker 2: bought a slushy every single day at seven eleven, Like
10:42
Speaker 2: you know what I mean? Looking at these things and
10:44
Speaker 2: going wow, Am I okay with this? Because that's where
10:48
Speaker 2: the power comes in, and it can feel a lot.
10:52
Speaker 1: Yeah, it does feel a little bit confronting.
10:53
Speaker 2: Doesn't it, Because it is you're kind of, like again,
10:56
Speaker 2: personally attacking yourself, and I don't want you to see
10:59
Speaker 2: it that way. And that's why I call it an audit,
11:01
Speaker 2: not like a budget check, but like we're just auditing
11:04
Speaker 2: it and we're going to put everything on the table
11:05
Speaker 2: and see where we're at. But it's also where clarity
11:08
Speaker 2: comes from, because awareness is always the first step to
11:11
Speaker 2: behavioral change. So instead of saying new year, n me,
11:15
Speaker 2: how about new year? Honest to me? No, it's not.
11:19
Speaker 2: I just said it with the right intonation. But from there,
11:24
Speaker 2: you don't need to set ten goals. You just need
11:26
Speaker 2: maybe one or two that actually move the needle in
11:28
Speaker 2: your life. And Jess, I feel like I've been yapping
11:32
Speaker 2: and I can continue to yap, and I will continue
11:34
Speaker 2: and yap because we're going to go to a really
11:36
Speaker 2: quick break. But when we come back, we're going to
11:37
Speaker 2: get really practical. Because if you're listening to this thinking
11:41
Speaker 2: I actually want this to be my best financial year yet, guys,
11:44
Speaker 2: I'm going to walk you through exactly how to approach
11:46
Speaker 2: it in a way that will work in your real life.
11:54
Speaker 2: Our one thousandth episode is coming up soon, and to celebrate,
11:57
Speaker 2: We're giving one clever listener a chance to win She's
12:00
Speaker 2: stashed the cash. Today's mystery word is seven. Tune into
12:06
Speaker 2: episodes of She's on the Money between the seventeenth of
12:08
Speaker 2: June and the third of July and listen out for
12:11
Speaker 2: the hidden code words. They're are five in total. The
12:14
Speaker 2: first person to arrange the code words in the correct
12:16
Speaker 2: order will win one thousand dollars. Entries open on Friday,
12:20
Speaker 2: the third of July, with details shared live on the pod.
12:23
Speaker 2: Good luck and happy hunting. Okay, Ms jessic Ricci, we
12:27
Speaker 2: are back and let's get into it. If, my friends,
12:31
Speaker 2: you want this to be your best financial year yet,
12:35
Speaker 2: this I've done like a little template. This is how
12:37
Speaker 2: I would approach it. And I mean, you do you
12:40
Speaker 2: if you wouldn't approach it this way? Don't like, you
12:44
Speaker 2: don't have to do what I say. But this is
12:46
Speaker 2: how I would approach it. Ye from knowing what I
12:50
Speaker 2: know now, I suppose so first I would be picking
12:54
Speaker 2: a direction, not a perfect goal, because like, how many
12:57
Speaker 2: times will we set perfect goals and then disenchanted because
13:01
Speaker 2: we haven't achieved them?
13:02
Speaker 1: Yeah, scrap that.
13:03
Speaker 2: We're going to pick a direction, ask yourself, what would
13:06
Speaker 2: actually make my life feel easier with money over the
13:11
Speaker 2: next twelve months, because that's going to ground you in reality,
13:14
Speaker 2: not some ideal perfect version of you. Like, what's going
13:19
Speaker 2: to make you feel like life is a bit easier
13:22
Speaker 2: when it comes to cash. Yeah, because if you said
13:25
Speaker 2: to me, I'm going to save so much every month, well,
13:28
Speaker 2: we haven't done that before and it hasn't worked so far,
13:32
Speaker 2: So maybe let's just pick a direction.
13:35
Speaker 1: I like that. It feels much more achievable.
13:37
Speaker 2: I would agree. And then because that's maybe not specific enough,
13:41
Speaker 2: we are going to make it specific enough that your
13:43
Speaker 2: brain knows what to do, not just like save more,
13:47
Speaker 2: or you're going to save one hundred dollars a week, yess,
13:50
Speaker 2: or I need to build a five thousand dollar emergency fund,
13:53
Speaker 2: because what that's going to do is remove friction, because
13:57
Speaker 2: clarity removes friction. And then third, we're going to build
14:01
Speaker 2: the system immediately. We're not going to talk about it
14:03
Speaker 2: for a long period of time. We're just going to
14:05
Speaker 2: set it up and if it's not working for you,
14:06
Speaker 2: we're going to change it. But we're going to implement
14:09
Speaker 2: the system asap, and we're going to automate it we're
14:13
Speaker 2: going to set it up. We're going to remove the
14:15
Speaker 2: need for you to make decisions every single damn time,
14:17
Speaker 2: because that relies on motivation, and motivation isn't coming tomorrow.
14:22
Speaker 2: Motivation is actually a choice in the moment that you
14:25
Speaker 2: have to make consistently, because it's not just going to
14:27
Speaker 2: one day show up, like You're not going to wake
14:28
Speaker 2: up tomorrow and be like, I finally get these jets,
14:32
Speaker 2: I finally feel like compromising my lifestyle enough to save
14:37
Speaker 2: five grand.
14:38
Speaker 1: And even if you have motivation, now it goes away.
14:41
Speaker 1: It's that new year n me feeling and then I'm
14:44
Speaker 1: feeling good now I'm setting my goals. Now mean four
14:46
Speaker 1: weeks not feeling so good I feeling.
14:49
Speaker 2: Could invent a drug that makes that feeling last for
14:53
Speaker 2: the entire period that I'm trying to set the goal
14:55
Speaker 2: or like achieve the goal. That would be fantastic, yes,
14:58
Speaker 2: but there's something exist.
15:01
Speaker 1: In the interim. Automating feels much more doable.
15:03
Speaker 2: It totally is. And let's then make this really real,
15:08
Speaker 2: because I think that that's where it kind of clicks
15:10
Speaker 2: with you. If you're someone whose goal every single year
15:13
Speaker 2: is like I want to save money, Like this year
15:15
Speaker 2: I'm going to save money, and it just like never
15:18
Speaker 2: quite happens. What's missing, it's not motivation, Like, it's not
15:23
Speaker 2: its structure. So your version of this kind of becomes
15:27
Speaker 2: every Thursday, when I get paid one hundred and fifty dollars,
15:29
Speaker 2: it's going to automatically move into savings and I'm not
15:33
Speaker 2: going to touch it. Your job isn't to be disciplined
15:36
Speaker 2: in every single week go into your bank account and
15:39
Speaker 2: transfer that money when you get paid, because that's adding
15:42
Speaker 2: a heap of admin and like I can promise you,
15:45
Speaker 2: you're going to fall off that horse real quick, because
15:48
Speaker 2: come Thursday and you're like, oh, I'll do it, want
15:50
Speaker 2: to get home, because I'm just gonna pop out and
15:51
Speaker 2: do X, Y or Z when you get home, you're
15:53
Speaker 2: not going to do it. And then the week after
15:55
Speaker 2: you're gonna be like, oh, actually, I don't want to
15:57
Speaker 2: transfer it right now because I'd like a bit more
15:59
Speaker 2: money in my account for the weekend. Like you are
16:01
Speaker 2: going to come up with every reason under the sun
16:04
Speaker 2: to not do it. Manually automate it, because then we're
16:07
Speaker 2: not interrupting the system, and if the system is just
16:10
Speaker 2: working as it should, your goal is going to be achieved.
16:14
Speaker 1: That feels like a big shift.
16:16
Speaker 2: And if you're someone who kind of starts off strong
16:19
Speaker 2: and then falls off after a couple of weeks, it's
16:22
Speaker 2: usually because you've built something that only works when you
16:25
Speaker 2: feel motivated. That's why we need.
16:27
Speaker 1: To build it.
16:28
Speaker 2: Well, it's why we have to build a system that
16:30
Speaker 2: you can actually stick to. So instead of going all in, like,
16:34
Speaker 2: let's scale it back to something that works even on
16:37
Speaker 2: the worst of worst days. Like if you have said
16:40
Speaker 2: I want to transfer one hundred and fifty dollars a week,
16:43
Speaker 2: but you just know that's not going to work, why
16:45
Speaker 2: are we setting that up for ourselves. Yeah, let's be
16:48
Speaker 2: really realistic. Maybe it's just checking your account once a
16:51
Speaker 2: week and moving a smaller amount of money because the
16:54
Speaker 2: intensity it can change, like lower the intensity, but increase
17:00
Speaker 2: your consistency.
17:01
Speaker 1: I feel like a lot of people don't want to
17:02
Speaker 1: do that because it feels like it's too small.
17:05
Speaker 2: Talk to all the women in our community who said
17:08
Speaker 2: I started by transferring five dollars a week. Amen, Like
17:12
Speaker 2: the girls in there in the group chat, they know
17:15
Speaker 2: and they are the ones shouting from the rooftops in
17:18
Speaker 2: our Facebook group. Being like Victoria, I thought it was useless,
17:21
Speaker 2: and I was like, I know, but it was actually
17:24
Speaker 2: about setting up the system because that five dollars you
17:27
Speaker 2: were like, oh, actually i've got a pay rise. I
17:29
Speaker 2: can increase that to ten dollars. And then that ten
17:32
Speaker 2: dollars became fifty dollars in all of a sudden, it's
17:35
Speaker 2: much bigger. But it didn't feel more painful. Yeah, because
17:38
Speaker 2: you're in the habit exactly, And how on earth are
17:40
Speaker 2: you going to find one hundred and fifty dollars a
17:42
Speaker 2: week when it's probably absorbed in other parts of your
17:46
Speaker 2: budget without feeling like it's restrictive. So let's start small
17:49
Speaker 2: and then start pushing it up. You're not going to
17:52
Speaker 2: feel it. Yeah, it's like the frog in the pot
17:55
Speaker 2: of boiling water, Like you just don't realize it's getting
17:58
Speaker 2: hot until you're in a pot boiling water.
18:01
Speaker 1: But in a positive way this time. Yeah, but jump
18:04
Speaker 1: out of the pot of the boiling water because the
18:05
Speaker 1: pot of boiling water is money.
18:07
Speaker 2: Oh yeah, you're in a pile now money. You're in
18:11
Speaker 2: baskets and buskets of money. But I feel like sometimes
18:16
Speaker 2: when we say, oh it feels too small, don't bother,
18:19
Speaker 2: Like that's a trap, because small and consistent every single
18:22
Speaker 2: day of the week is going to beat big and
18:24
Speaker 2: inconsistent rabbit in the hair. There are so many childhood
18:29
Speaker 2: fables we could use because it's not something that's unknown.
18:34
Speaker 2: Everybody knows that small and consistent wins the race. And
18:37
Speaker 2: if you're someone who sets too many goals, which can
18:39
Speaker 2: be tempting, like Jess is looking at me because like
18:42
Speaker 2: I love to be like and I think I want
18:44
Speaker 2: to achieve. This just is like do what you said
18:47
Speaker 2: you would do, not what you actually did, Victoria. But
18:50
Speaker 2: the reality is every single goal is going to take energy.
18:53
Speaker 2: So instead of trying to fix everything, maybe let's just
18:56
Speaker 2: pick one financial focus for the next three months, and
19:01
Speaker 2: that's where you're going to actually start to see some
19:03
Speaker 2: progress and actually start to chip away it's something that
19:05
Speaker 2: maybe you've never chipped away out before.
19:08
Speaker 1: Just one. I feel like that's doable. That feels like
19:10
Speaker 1: a relief almost to think about just I just have
19:12
Speaker 1: to think about one thing.
19:13
Speaker 2: It should or I'm hoping it does. Because trying to
19:17
Speaker 2: change absolutely everything at once is one of the fastest
19:20
Speaker 2: ways to change absolutely nothing. And this is where I
19:22
Speaker 2: want to bring in another Adam Grant book, it's called
19:26
Speaker 2: hidden potential, and I've just this is the most recent
19:28
Speaker 2: one that I've read because one of the key ideas
19:32
Speaker 2: in his book is that progress it's not about getting
19:37
Speaker 2: it right the first time. It's actually about how you
19:39
Speaker 2: respond when things don't go to plan. I reckon, we
19:42
Speaker 2: should get Angela and Adam in a room together, because
19:44
Speaker 2: they would be like, oh, yeah, I thought of this first. Nope,
19:47
Speaker 2: I thought of this first. Like they're saying very very
19:50
Speaker 2: similar things. So instead of seeing your setbacks as failures,
19:55
Speaker 2: which how many of us do, like I punish myself
19:58
Speaker 2: for it inherently if I don't succeed the first time,
20:02
Speaker 2: I'm like, oh my god, I'm so bad at this.
20:06
Speaker 2: I Am literally a drama queen. And you have to
20:08
Speaker 2: call yourself out on that. Yeah, But instead of seeing
20:11
Speaker 2: it as a failure, let's start treating it as feedback.
20:15
Speaker 2: And every manager who's ever existed is going to tell you, Jess,
20:20
Speaker 2: feedback is a gift. Does it feel nice?
20:23
Speaker 1: Absolutely not at the moment, no.
20:25
Speaker 2: But like, feedback can be constructive and you ask yourself, well,
20:30
Speaker 2: what got in the way, what didn't work, and then
20:32
Speaker 2: you can adjust, And that's just how people are actually
20:35
Speaker 2: going to improve, Like it's not nice. And I think
20:40
Speaker 2: that you probably started this because you thought, oh, Victoria's
20:43
Speaker 2: started another podcast on goal settings. This is going to
20:45
Speaker 2: feel good, Like, no, it's going to tell you to
20:48
Speaker 2: get together.
20:50
Speaker 1: There's a phrase that I love, which I don't know
20:53
Speaker 1: if it's their phrase, but Alice KT we have worked
20:56
Speaker 1: with that team before. They have, you know, their principles
20:59
Speaker 1: that they want said better the walls. Yeah, one sent
21:01
Speaker 1: better is like I think the most well known one.
21:03
Speaker 1: But one of the rules that they have I remember
21:05
Speaker 1: we saw at their office was move fast and break shit.
21:08
Speaker 1: And the principle was like, when you're doing stuff all
21:11
Speaker 1: the time, things are gonna go wrong.
21:13
Speaker 2: Oh you break so much stuff.
21:14
Speaker 1: Yeah. That not because I'm clumsy, but I like that
21:18
Speaker 1: principle because it's like, well, if the goal is to
21:21
Speaker 1: be doing things, like I'm saying, I'm someone who when
21:24
Speaker 1: I don't do well at something, I find it really frustrating.
21:27
Speaker 1: That's just like a personally trade of mind. But like,
21:29
Speaker 1: if the goal is to try so many things that
21:31
Speaker 1: some things don't work, you can't fail.
21:35
Speaker 2: Which I feel like that's arguably a little bit healthier. Yeah,
21:38
Speaker 2: and it's I guess also what keeps you going, because
21:41
Speaker 2: if every single mistake feels like proof that you suck
21:45
Speaker 2: and you can't do it, you're gonna stop. Like, I'm
21:48
Speaker 2: not going to keep doing that because that is terrible,
21:51
Speaker 2: make me feel bad. That's not motivation. But if every
21:55
Speaker 2: single mistake we change our mindset and we view it
21:58
Speaker 2: as just part of the proce, like I was never
22:01
Speaker 2: going to be good at something, first go, which is logical,
22:04
Speaker 2: Like I would tell you that, right, I would be like, yes,
22:06
Speaker 2: you can't be good at everything, like first cab off
22:09
Speaker 2: the rank, of course not. But then when I do it,
22:11
Speaker 2: I'm like, why am I not good? First cab off
22:13
Speaker 2: the rank?
22:14
Speaker 1: Stupid?
22:14
Speaker 2: Start talking to yourself like you would your friend instead
22:17
Speaker 2: of me, because my self talk she needs talking to.
22:21
Speaker 2: It's where grit really kind of comes in, because it's
22:25
Speaker 2: not about being perfect for a really short period of time.
22:28
Speaker 2: It's about staying consistent when things feel boring or slow
22:31
Speaker 2: or just relatively inconvenient. And that's where most financial goals
22:36
Speaker 2: do fall apart, not because they're hard, because arguably the
22:40
Speaker 2: journey is not that exciting. That's so true, and what
22:43
Speaker 2: our friend Angela Duckworth talks about is that people who
22:47
Speaker 2: succeed aren't the most talented, they're the ones who stay
22:51
Speaker 2: in the game for the longest. And I think about
22:53
Speaker 2: that all the time when it comes to money, because
22:55
Speaker 2: the person who invests consistently for years will almost always
23:01
Speaker 2: outperform the person who is trying to be perfect but
23:04
Speaker 2: gives it up early or just like throws lots and
23:06
Speaker 2: lots of money at it for a short period of time,
23:09
Speaker 2: because it's not about being perfect, it's just about not quitting.
23:13
Speaker 1: And not quitting feels like an achievable goal.
23:15
Speaker 2: One hundred percent. And I think it's a good trim. Yeah,
23:18
Speaker 2: And I think it's a little bit of a mindset shift.
23:20
Speaker 2: And if we bring this back to something really practical,
23:22
Speaker 2: if you're sitting there going what the hell do I
23:25
Speaker 2: actually do after this episode, this is what I want
23:28
Speaker 2: you to do. I want you to pick one financial goal,
23:32
Speaker 2: and then I want you to make it really specific,
23:34
Speaker 2: like set one system up that supports it. So we're
23:37
Speaker 2: not just going to set one goal. The system is
23:40
Speaker 2: the key here. What system are you setting up that
23:42
Speaker 2: is actually going to support that goal? And then in
23:45
Speaker 2: your calendar you're going to put a check in with
23:47
Speaker 2: yourself in a month, you're going to go and put
23:50
Speaker 2: that in your calendar and be like check in on
23:51
Speaker 2: that goal. And then that's it. That is it, that's it.
23:54
Speaker 1: That feels very manageable. I want can I add one thing,
23:57
Speaker 1: of course, to everybody, We would like you to go
23:59
Speaker 1: to the comments on Spotify and tell us what your
24:01
Speaker 1: goal is.
24:02
Speaker 2: Oh yeah, we'll keep you accountable.
24:04
Speaker 1: Yeah, maybe like six months time we can come back
24:05
Speaker 1: and be like, Okay, Amanda, did we do what we
24:07
Speaker 1: said we were going to do?
24:08
Speaker 2: And Amanda's going to be like why your personally attacking mean?
24:11
Speaker 2: Is just a gut of your cheek, you know? With love,
24:13
Speaker 2: just love exactly like we are your big sisters. Sometimes
24:17
Speaker 2: we really annoying, but I promise we still love you
24:21
Speaker 2: and what wants best for you. We just have to
24:22
Speaker 2: sometimes point things out that you don't particularly like.
24:25
Speaker 1: Yeah, and make it feel manageable.
24:27
Speaker 2: Yeah, but like, why's my little sister do that to
24:29
Speaker 2: me so often? Rude? That's big sister energy. You are
24:33
Speaker 2: the little sister. But I guess that's the whole point.
24:36
Speaker 2: It makes it a lot more manageable. You actually don't
24:38
Speaker 2: need a perfect plan, you don't need to overhaul your
24:41
Speaker 2: entire life. You don't need to find noodles of motivation
24:44
Speaker 2: and watch six million tiktoks on how to find motivation.
24:47
Speaker 2: You just need to start something and then stick to it.
24:50
Speaker 2: Get this just longer than you normally would. Okay, just
24:54
Speaker 2: stick to it longer than you normally would. That would
24:56
Speaker 2: be the goal. We're not going to set this ridiculous
24:58
Speaker 2: goal of jest. You have to stick to it for
24:59
Speaker 2: the next twelve months, just like longer than you normally would.
25:04
Speaker 2: And then if we zoom out, your best financial year
25:07
Speaker 2: isn't going to come from one big decision. It's actually
25:10
Speaker 2: going to come from really small decisions that are done
25:13
Speaker 2: consistently over time, and then a year from now you
25:16
Speaker 2: will look back and be like, damn, girl, I did that.
25:20
Speaker 1: Yeah, which is less exciting in the moment, but arguably
25:23
Speaker 1: more realistic and less pressure, which we love exactly.
25:26
Speaker 2: And if there's one thing that I want you to
25:28
Speaker 2: take from this, it's that you actually do not ever
25:31
Speaker 2: need to be perfect with money. No one, I mean,
25:34
Speaker 2: Jess might be, I'm not.
25:35
Speaker 1: Definitely not.
25:36
Speaker 2: But you just need to stay in the game because
25:38
Speaker 2: that's where everything changes. And if you want to go
25:40
Speaker 2: deeper on this, I'll make sure that I link the
25:42
Speaker 2: books that I talked about and Angela Duckworth's Ted talk
25:46
Speaker 2: in the show notes, because I think it's genuinely one
25:49
Speaker 2: of the best explanations about why persistence matters more than talent.
25:54
Speaker 2: But for now, I want you to consider this your
25:57
Speaker 2: midyear reset. It's not pressure, it's not perfect. It's just
26:00
Speaker 2: a chance to start again. But we're just being a
26:03
Speaker 2: little bit smarter about it this time.
26:06
Speaker 1: And that feels like such a good place to land,
26:07
Speaker 1: doesn't it.
26:08
Speaker 2: I think that we're done. I think we can wrap
26:10
Speaker 2: this episode. So, my friends, if this episode has helped you,
26:13
Speaker 2: I would love it if you sent it to a
26:15
Speaker 2: friend who's also trying to get their stuff together this
26:18
Speaker 2: financial year. And we'll be back again on Friday by Friends.
26:26
Speaker 4: The advice shared on She's on the Money is general
26:28
Speaker 4: in nature and does not consider your individual circumstances. She's
26:32
Speaker 4: on the Money exists purely for educational purposes and should
26:36
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