Money Mindful Podcast

06: Savers are losers

Savers are losers hmmm. Ok now that I think I have your attention let’s talk about saving. A couple of months back I read Robert Kiyosaki’s book Rich Dad Poor Dad and in the book he states that savers are losers. At first I was like what the? But then I started to process what he was saying and I think he does have a point- let me explain. You may be aware that interest rates are really low at the moment. Which is super awesome if you have a home loan. I mean you can get rates below 4% which is pretty amazing but the down side of low interest rates it that the interest you earn on savings is also very low. I did a quick online search which was by no means extensive but the best rates I could find for a term deposit was 2.4% interest and for an online savings account it was 2.75% Is that even keeping up with inflation? Only just. I think Inflation currently sits around 2%.

05: How we get in & out of debt

Today I will discuss how we get into debt and how to get out of debt. What is debt? Debt is the price we pay to buy money. What? I’m guessing you probably haven’t thought of it that way before. Am I right? When we purchase something in advance on our credit card or by taking out a loan. What we are doing is buying money. Let me explain. We borrow the money to pay for the item such as a new pair of jean, a large bill such as our car rego -that by the way we have to pay for every year yet somehow seem to forget that and have to come up with the money from somewhere each year.

03: How do you spend your money?

We are going to be talking about budgets. That’s right get pumped people for all things budgeting. Why does everyone hate budgeting so much? You know what I think? It’s because your thinking about it all the wrong way. It shouldn’t be called a budget. It should be called a spendit. Think about it. A budget it all about planning how you get to spend your money. How good is that? I love it. If you’re serious about managing your money you better get comfortable with making a budget.

02: Planning your dreams

Thank you so much for joining me here again at Money Mindful! Today we are looking at creating goals to achieve what you want. I’m here in my home office, it’s nice and quiet today. It’s the perfect time to talk about goals and what you want to achieve. Let’s first have a little recap on what we discussed last week. How did you go? Hopefully by now you have completed the ‘What is your net worth?’ worksheet and have clarity on what your net worth is. How do you feel about? Do you want to change?

01: How to Get Started

You are at your local store picking up a couple of groceries for dinner or perhaps a bottle of wine, you tap your debit card and it gets declined. So you pull out your credit card, tap away and off you go. No big deal we have all been there…… except you think to yourself - where did it all go? You know it’s close to the end of the week but surely you haven’t spent ALL your pay? This seems to happen more often than you would like. You know you need to start managing your money better but have no idea how?