13: Self care & Money

This is the last episode for the season! I know right? Where did the time go? Christmas is next week. What an amazing year. I love the end of the year. For me it is always a time of reflection. Looking back over everything I have achieved and planning for what I want to do next. Super fun but a little scary too yeah?

It’s funny, I always get excited when I dream about new goals but when the dust settles and I actually write it down on paper and start planning for it I get a bit scared.

Does this happen to you?

That worry that you have bitten off more than you can chew, maybe you’re being a bit too ambitious.  I certainly get like this.  All my doubts come up but I don’t let that stop me, well not for too long anyway. I have a big goal on the horizon that I might share with you next year when we kick off the new season. I have been bubbling away with what I want to do next year, now that my circumstances are changing and we are moving interstate, some new possibilities are opening up. But I will save this to share with you when the show returns.

I wanted to mention to you that each episode has an accompanying post on the website.  If you are reading this you will see the podcast player above.  You can listen directly to the show on the player above or you can just read it here.  It’s not quite an exact transcript but it covers all the main points mentioned on the episode. I tailor it here to suit the written format. Someone mentioned to me that they don’t like listening to podcasts, shock horror, I know! So this is why I have a written version for you here too.

Ok let’s get into it.

I’m just going to warn you that I am about to get my woman power rant on and it does involve a few swear words.

A couple of weeks back I got my first nasty message from someone. I wont go into the details because some things are not worth repeating.  However, one of the points that struck me from the message was that the guy wrote the podcast was, in his words ‘incredibly…. Simplistic’ and ‘Financial strategy is a double degree UNI course’.  I wanted to point it out here because this is the myth that I think many of us can get caught up in. That money and looking after your finances by investing or planning for your future is this complex thing that you have to go to university to understand.

That is some complete bullsh!t right there.

Do you remember earlier in the year I mentioned I had been saving money for my daughters and I invested it in September, Well in 3 short months I have already made $150 on that investment.

Okay, so yes, I admit, I do have post graduate qualifications. I am from a white middle class family and live in a country where getting a degree is still in reach for most people. However, I didn’t have to go to university to learn about how to look after myself financially. Nor did I learn anything that I know about making money from  university. Financial strategy is 'simplistic'. It's only complex for people that make out that it is, in order to feel good about themselves.  How clever they are; investing in futures and options.

Let the little boys play with their complicated toys, meanwhile us women will get down to the simple business of looking after ourselves financially by using simple strategies and supporting each other. By the way men, because I know there are a few of you listening/reading the show. I love you, but I’m just getting my rant on about people who try to put others down. No offence intended.

There are very basic concepts about budgeting, saving and investing that you don’t have to be a rocket scientist to understand or implement. I think many people, particularly women don’t realise how easy it is and or have simply never been taught.  I don’t think it was meant to be a compliment but I will certainly take it as one, that yes, this podcast is 'incredibly simplistic', and thank goodness it is accessible to all, because you shouldn’t have to, or need to be a financial advisor to understand money. If everyone had to do a double degree university course to understand money we would all be up sh!t creek. Making the most of our money would only be available to a privileged few, who had those degrees. I will add, that yes of course if you want to be a world economist and do international bank mergers, well yes, you probably do need a double degree.

I was at a party on the weekend and surprise surprise I ended up in two separate conversations about money. One was to do with a person having to deal with the paperwork headache after a friend had died suddenly. He was saying they couldn’t organise payments for her bills because they were all on monthly direct debits but the bank had already closed her accounts.  So they were having to pay for it all themselves, while they worked on getting the authorisation to close all her billing accounts. This was a real issue for them, so if you are wondering why I was banging on about getting your estate affairs in order, this is why.   Have it set up so someone you trust has access to your billing information or your email password as that is where a lot of bills get sent these days. Anyway, I won't go into that now. You can hear me talk about it in episode 11 from a couple of weeks backs.

The second conversation was with someone who works for a superannuation company in claims.  She was telling me how she often receives claims from women who want to access some of their super early due to financial hardship. The women would often have no idea where their money was invested or other important facts about their super and would say they had been putting it off to call. The women felt uncomfortable because they didn’t really understand super and or had a low balance. These conversations get me so fired up and give me a renewed enthusiasm for this podcast, as if I need anymore!

So please don’t let anyone ever try and convince you that you are not smart enough or that your money strategies are too simple. The simpler the better I say. And this goes for any time you are seeking financial advice. There is certainly a place to get expert financial advice and use expert services like ones I have mentioned in previous episodes but again if anyone makes you feel like you don’t know what you are doing or talks down to you, move on.

Talk to your girlfriends about money, share information. I’m not suggesting you should follow the advice of friend to invest in some hot stock and then end up losing all your money but I am suggesting get information about money out into the open. Women are so good at supporting each other and telling stories. Share your money story. Your best friend might be having the exact same issue as you and you may find you can work together to problem solve. That’s exactly want I did with my friend when we were both buying a property at the same time. We asked questions and we helped each other. Also there is an amazing community of women on Instagram. Regular women who are wanting to either get out of debt or do better financially. They are all very open and supportive about money and what they do. You can get onto my Instagram @moneymindfulpodcast and see who I am following.  You will also find like minded communities there.  You can search the hashtags such as  #debtfreecommunity, or a good one to be a part of is the hashtag I look like an investor. Women just don’t invest as much as men and this I Look Like an Investor movement is there to show you that women of all races and walks of life are investors. So get onto following that. The women who started the I look like an investor movement are, @bossgirlmillionaire, @finesse_finance and @taysjourney3.

So there you go. I just could not pass up the opportunity to mentions these points and I’m so glad I got that negative message because it just reminded me to reach out and say if you feel shame or embarrassed because you don’t feel like you know much about finance, that’s ok. You can change that. There are plenty of books you can read to educate yourself and there is a strong community of women that is growing online, who are educating themselves about money and we will welcome you with open arms. I can’t give you financial advice obviously but please reach out if you are getting stuck or feel overwhelmed, you can get me at Meaghan@moneymindful.com.au I want to support women to empower themselves around money and financial literacy.

Ok passion rant over.

Moving on, I have a Christmas present for you. As I said earlier, this is the last episode for the season but I am certainly not going to leave you empty handed. I have prepared a self care and money guidebook for you. It’s called Self Care & Money: 3 steps to practise financial self care! Plus bonus Money Mindful Guide. Yay! I can’t wait for you to get a hold of it.

We all know about looking after our health and physical wellbeing. Self care is a topic we see increasingly on social media. We know about taking time out for ourselves, getting a massage or going to a yoga class but what about self care when it comes to money?

Our personal finances are often an area of our lives that we neglect. We don't give it the attention it deserves and then wonder why we are in debt or can't seem to get ahead.  Well rest assured that you are not alone and you are in the right place.  I designed the guidebook to give you quick and simple actionable steps you can start doing straight to look after yourself financially.

Taking action to improve your finances is obviously a great step towards creating financial security and freedom. However, to really set yourself up for success creating awareness around what you believe about money shines a light on how much you have and why. If you believe people with money are not nice people or that money isn't important it should come as no surprise that you may not have much of it as why would you want to be one of those nasty rich people or spend time taking action about something you believe is not important. Does this make sense?

This guide book will help you take the first steps toward creating financial security and freedom in your life.

You will learn what you believe about money and how that effects how much you have.

You will learn what your net worth is.

You will learn the first simple steps to get your finances in order.

This should give you the opportunity to Reframe your finances from overwhelm and worry to self care and clarity.

To access the self care and money guide go to www.moneymindful.com.au/selfcare

You can opt into the money mindful ladies club and there you will get access to the guide book.

Making this podcast has been life changing because it has made me realise if you have an idea it is possible to just follow through and do it. This is how I want to live my life. I was speaking to my daughter’s teacher at kinder and she was telling me how since listening to the show she has change some of her money habits and has already saved a considerable amount of money! Yes! Doing something that has a positive impact on others, I don’t really think it gets better than this. If you are at ground zero or in debt it’s not too late to start. You are right where you need to be. Don’t worry if you don’t have all the answers, just take one simple step, then another and another and before you know it you will be kicking ass financially speaking and not only that, I find once you start getting one area of your life sorted, it filters out to other areas of your life.

So thank you for being with me on the Money Mindful journey this season. I hope you are learning that it is possible to look after yourself financially. You just need to take the first step and then the next and the next. Baby steps are all you need.

A little plus often equals a lot.

I’m not sure who said that but I sure do find it so helpful to focus on when I am feeling overwhelmed starting something new.

It’s time for me to take a break and move my family to NSW. I cannot wait to reconnect with you again in the new year. Remember you can get the self care and money guide by clicking here.

The holidays is the perfect season to take some time out for yourself and start practising a little self care, mentally, physically and financially.

I will keep you posted on Instagram or on Facebook. I will let you know there when I will be back for season 2 in the new year. I have lots of plans and people I want to interview so stay tuned for that in 2020. Thanks for having me in your ears.

Have a beautiful holiday season.

Until next year bye bye.

Get the Self Care & Money: 3 steps to practise financial self care! Plus bonus Money Mindful Guide.

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