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