Succeed With Money

In Part 1 of "Teaching Kids about Money", we opened a can of worms introducing the topic of teaching children about money. We’re not sure how big this is going to get but there is certainly a lot of interest in this topic. As parents we have a responsibility to give our kids a solid financial foundation for life. Neglect this and you’re setting your kids up for failure.

In this podcast we interview a parent of two children who are learning the importance of making smart choices with money… so it’s an episode not to be missed!

A recent report from the ABC stated that while each generation of Australians has enjoyed a better standard of living than the one that came before it, today's young Australians are in danger of falling behind.

We all want to see our children have a great life and as parents we want to pass on the lessons we have learnt, so our children can avoid making the mistakes we made.

Over the past 53 episodes of Succeed With Money we've been banging on about the importance of taking control of your money and how important having a plan for your day to day finances is.

If you've been listening to our podcast over the last 12 months you would have learnt the importance of taking control of your money, getting rid of debt, understanding where your money goes and how to create a secure financial future.

We are now entering the 2nd year of our podcast and have realised the importance of teaching the next generation, i.e. your kids,  good money skills. Over the coming weeks we will be focusing on the importance of teaching children good life money skills ... which makes this an episode not to be missed!

The Federal Treasurer brought down the budget last week and announced we would all be receiving personal tax cuts. Three days later this passed through parliament and it’s now law. We’re all going to be getting more in our take-home pay each week.

So this episode of Succeed With Money looks at our options for what to do with this money…. which makes it an episode not to be missed!

Three and a half million Aussies have benefited greatly from Job Keeper payments over the last 6 months. These payments were designed to keep staff attached to employers while the business’s income was down due to Corona Virus.

Now it’s early October, JobKeeper V1 has officially run out. However it has been extended for some people at a reduced rate. For others it has ended.

There are many who will now be facing a change in their financial experience and the reality of having to face up to life after government support and protection from loss of income. The Covid bubble has burst.

When you were a teenager you were probably very excited at the prospect of getting started on your life journey, the way YOU want it to be.

When you were in your 20’s you would have started that journey and maybe you recognised the need to get some qualifications or skills that would allow you to generate a decent income, but you were having fun doing life your way.

By the time you're in your 30’s you may well be married, maybe started a family, possibly purchasing or looking to purchase a family home and quite likely up to your eyeballs in financial commitment.

If you are in your 40’s you would quite likely have teenage kids and financial pressure coming at you from many directions.

Each decade of life has its own challenges and rewards.

In this episode of Succeed With Money Podcast David interviews Chris Freeman from 'Design A Decade'. Chris tells the story of his own personal successes and failures and the lessons he learnt that now allow him to teach others how to plan the decades of their life to enjoy success on many levels. It's a very interesting interview... which makes this an episode not to be missed!

If you were a prime minister, a king or queen, or perhaps the president of an important country, you would have security staff whose entire time and energy would be dedicated to keeping you safe. To do that every journey you took, every speech you made and every meeting you had would be assessed for the possible risk of something bad happening to you.

OK so you are actually not the prime minister or the queen, but does that mean that taking risks is OK for you? Have you ever stopped to consider the risks you are living with each and every day?

Have you ever thought about where money comes from? Right now governments around the world are spending lots of it to keep their economies going. That's borrowed money that has to be paid back!

But where does it actually come from and where does it go?

If you think of each week's pay as seeds that could be spent and given to others, you realise some of them could be saved and planted to grow massive trees for your own prosperous future over time.

Are you sowing seeds for your future?

This week's episode of Succeed With Money covers a lot of ground on the topic of creating money.. and yes, it actually does grow on trees!

There are at least three basic human needs. Food, Shelter and Clothing and many would add Companionship to that list as well.

Food is usually readily available and quite affordable. Clothing can be expensive if you let it, but there are certainly economical options available. Potential companionship is all around us and it is usually free, although it can come with some substantial non-financial costs.

Shelter, somewhere to live, is one of the biggest expenses most people encounter. House prices have always made it that home ownership requires a concerted and deliberate effort to achieve, but is home ownership worth it?

Choosing to make the commitment to purchasing a home, or deciding it is better to rent is something that often comes up for debate.

In this episode of the 'Succeed With Money' podcast David and Carolyn explore the pros and cons that might influence your decision either way so they can maybe help you answer the question; is it better to buy a house or rent one?

One of the basic needs all humans have is shelter.

Owning your own home is the ultimate form of shelter so when I recently met Lindsey Galloway, who calls herself a 'New Property Concierge' I was interested to find out all about what that is, and how a New Property Concierge helps people to get into their first home faster.

In today's podcast, David interviews Lindsey to find out all about what she does.

If money stress is painful, why do people go into debt? Is there something attractive about debt that lures us out of our safe place and into the perils of owing someone else money?

Obviously there is or we would not go there! If I were to tell you that debt was only a problem if it was bad debt, would you start to wonder what planet I was from? How could debt possibly be good?

Today in the Succeed With Money podcast David and Carolyn are looking at the difference between good debt and bad debt and how we can all make better debt choices.