Season 5 has wrapped but you need to know all about how you can be smarter with money. So, welcome to this extra episode of Money: Faith and Finance! Hear your favourite accountant Pete Burrows explain why you need to join him at a special live event at Pittwater Anglican, Sydney, on Saturday September 14.

Register NOW for "Smarter with Money" with Pete from Money: Faith and Finance. Invite your friends, family members, colleagues, church members and anyone keen to upskill their approach to everyday finances.

Join the Money: Faith and Finance Group on Facebook here!

We love your questions. Contact the Money: Faith and Finance team and we will aim to get back to you in a future episode.

Pete Burrows is an accountant for small business and individuals with Lower Russell and Farr in Penrith, Western Sydney, Australia.

Ben McEachen hosts Hope Mornings on Hope 103.2FM in Sydney, Australia.

Support the show, a product of Hope Media: https://hope1032.com.au/donate/2211A-pod/

See omnystudio.com/listener for privacy information.

In this episode, Ben and Pete are joined by Hayson and Nikki Lo, hosts of the Money Matrimony podcast. Hayson and Nikki share their own experience with navigating household finances, as they took time and effort to find a more united approach. They want to help other couples with communicating better about money matters.

Key Takeaways:

Open Communication: Regular, honest conversations about daily expenses and financial goals strengthen marital relationships.

Joint Accounts: Combining finances fosters transparency and shared responsibility, ensuring both partners are involved in financial decisions.

Importance of Contentment: Teaching children about contentment and gratitude, regardless of financial status, helps ground them in healthy financial principles.

Role of Faith: Understanding that all resources come from God and striving to be good stewards impacts how money is managed and prioritised.

Balancing Act: Regular assessment of goals is necessary as balancing career aspirations and family time remains a constant challenge.

Notable Quotes:

Hayson: "The way that you view money, the way that you view the language around money, it's so important that it's about 'we' and not 'I'."

Nikki: "We are focusing more on the relational side of it, because a lot of finance podcasts involve getting rich and finding financial freedom – which is important – but we want to emphasise not making money an idol."

Hayson: "Having good communication and honest communication, even about our financial mistakes, helps foster a healthier relationship."

Nikki: "It's also seeing the value in each other's contributions, whether financial or non-financial, to help bring about those important conversations and communications."

Hayson: "We want our kids to learn contentment, to be content whether they have a lot or a little, and to always be thankful to God."

Listen now to Money Matrimony with Hayson and Nikki.

Join the Money: Faith and Finance Group on Facebook here!

We love your questions. Contact the Money: Faith and Finance team and we will aim to get back to you in a future episode.

Pete Burrows is an accountant for small business and individuals with Lower Russell and Farr in Penrith, Western Sydney, Australia.

Ben McEachen hosts Hope Mornings on Hope 103.2FM in Sydney, Australia.

Support the show, a product of Hope Media: https://hope1032.com.au/donate/2211A-pod/

See omnystudio.com/listener for privacy information.

Key Takeaways:

Cozy Fizz Explained: Or how the rising cost of living impacts luxury items and discretionary spending.

Wants vs Needs: Working out what is essential.

Economic Pressures: Small businesses, particularly in niche markets, must consider the particular sting of inflation and other financial factors.

Strategic Spending: Tips for managing finances by balancing quality purchases with affordability and necessity.

Notable Quotes:

"The more money you spend on vanity, the less money you've got to spend on humanity." - Pete Burrows

"It doesn’t cost that much more to make a fancy handbag. It’s just the name on it." - Pete Burrows

"Everybody wants to get something that’s a bit different, a bit unusual, and that comes out in people’s drinking tastes." - Pete Burrows

Join the Money: Faith and Finance Group on Facebook here!

We love your questions. Contact the Money: Faith and Finance team and we will aim to get back to you in a future episode.

Pete Burrows is an accountant for small business and individuals with Lower Russell and Farr in Penrith, Western Sydney, Australia.

Ben McEachen hosts Hope Mornings on Hope 103.2FM in Sydney, Australia.

Support the show, a product of Hope Media: https://hope1032.com.au/donate/2211A-pod/

See omnystudio.com/listener for privacy information.

Everything you need to know about starting out in stocks. Our special guest is Joe Youssef, Chief Investment Officer and Head of Distribution with Two Harbours Asset Management. You can learn more about Joe on LinkedIn.

Key Takeaways:

Understanding Shares: Shares represent ownership in a company. When private companies go public, they offer shares that anyone can buy, turning shareholders into partial owners.

Importance of Liquidity: The stock market offers liquidity, allowing investors to buy and sell shares quickly, unlike properties or term deposits which are less flexible.

Educational Emphasis: Joe Youssef stresses the importance of education in investing. Investors should thoroughly understand what they are investing in to make informed decisions.

Ethical Investing: Ethical investing is becoming increasingly prominent. Investors often choose not to invest in sectors like gambling, tobacco, or certain pharmaceuticals based on personal or religious beliefs.

Long-term Strategy: Effective investing requires patience and a long-term perspective. Joe highlights the need to weather short-term market fluctuations and focus on long-term growth.

Notable Quotes:

Joe Youssef: "The definition of true investment is to buy an asset with the view of holding it and letting it appreciate steadily over time."

Pete Burrows: "It’s a flexible way to make money… the very transparency of the share market is what scares people about it."

Joe Youssef: "Historically, no market has generated the most capital returns as well as income for investors than the stock market."

Joe Youssef: "Education is key and then have the patience to see that through."

Ben McEachen: "Should I align my faith with what I invest in?"

Join the Money: Faith and Finance Group on Facebook here!

We love your questions. Contact the Money: Faith and Finance team and we will aim to get back to you in a future episode.

Pete Burrows is an accountant for small business and individuals with Lower Russell and Farr in Penrith, Western Sydney, Australia.

Ben McEachen hosts Hope Mornings on Hope 103.2FM in Sydney, Australia.

Support the show, a product of Hope Media: https://hope1032.com.au/donate/2211A-pod/

See omnystudio.com/listener for privacy information.

Key Takeaways:

Difference Between Redundancy and Retrenchment: Redundancy is a job role being removed. Retrenchment is more personal, related to your job performance.

Immediate Actions: If you are made redundant, start looking for new jobs ASAP, consult financial professionals, and consider budgeting your redundancy payment as a wage.

Tax: Understand the tax-free components of redundancy payments. Where possible, time redundancy to maximise tax benefits.

Psychological Impact: Redundancy can deeply affect your identity and emotional well-being. Seek support and aim to view it as an opportunity rather than judgment.

Financial Planning: Consider paying off high-interest debts, topping up superannuation, or investing redundancy payments to ensure financial stability.

Notable Quotes:

"Retrenchment is generally more specific to a person, while positions get made redundant." - Pete Burrows

"I've seen some clients get made redundant and then after some time, say it was the best thing that happened to them." - Pete Burrows

"It's important to think of redundancy payments as wages and not just spend it all at once." - Pete Burrows

"Redundancy seems more commonplace in recent times." - Ben McEachen

"It's nothing personal from your employer, and it also isn’t any kind of punishment or judgment by God. It’s a fact of life." - Pete Burrows

Join the Money: Faith and Finance Group on Facebook here!

We love your questions. Contact the Money: Faith and Finance team and we will aim to get back to you in a future episode.

Pete Burrows is an accountant for small business and individuals with Lower Russell and Farr in Penrith, Western Sydney, Australia.

Ben McEachen hosts Hope Mornings on Hope 103.2FM in Sydney, Australia.

Support the show, a product of Hope Media: https://hope1032.com.au/donate/2211A-pod/

See omnystudio.com/listener for privacy information.

Key Takeaways:

Faith and Generosity: Danniebelle's generous upbringing has shaped her approach to money. Any time she can show generosity, Danniebelle sees that as success.

Struggles in Sydney: Living in the second-most unaffordable city in the world, Danniebelle shares how financial strain was compounded by health issues, unemployment and worry.

Journey Through Darkness: Danniebelle recommends wise counsel, professional healthcare advice, and spiritual re-engagement to help navigate out of dark periods.

Faith, Not Finances: Rather than continue to strive for financial security, Danniebelle came to trust in God’s provision - no matter her circumstances.

The Power of God's Word: I Corinthians 10:13 has provided Danniebelle with comfort and resilience, reaffirming that God never pushes us beyond our limits.

Notable Quotes:

"It's easy to slip into the depths of the depression of it, but actually [I found it was about] not letting yourself go there and turning to God's word..." – Danniebelle Whippy

"I'm just going to get my walk right with God... and things started to change in my financial state." – Danniebelle Whippy

"It's trusting in him that he will provide for you." – Danniebelle Whippy

"He’ll never let you be pushed past your limit. He’ll always be there to help you come through it." – Danniebelle Whippy

Join the Money: Faith and Finance Group on Facebook here!

We love your questions. Contact the Money: Faith and Finance team and we will aim to get back to you in a future episode.

Pete Burrows is an accountant for small business and individuals with Lower Russell and Farr in Penrith, Western Sydney, Australia.

Ben McEachen hosts Hope Mornings on Hope 103.2FM in Sydney, Australia.

Support the show, a product of Hope Media: https://hope1032.com.au/donate/2211A-pod/

See omnystudio.com/listener for privacy information.

Key Takeaways:

Budgeting: Create a budget and stick to it, ideally making it a rolling budget to keep track of your finances monthly.

Use Money-Saving Apps: Leverage apps to compare prices and save on essentials like fuel or groceries.

Pay Off Loans Strategically: Aim to pay off loans and bills more frequently to reduce interest.

Community Resources: Utilize free resources like libraries to save on entertainment and educational needs.

Sell Unused Items: Regularly declutter and sell items you no longer need to free up space and add to your savings.

Notable Quotes:

"Don’t spend more than you earn and actually have a budget." — Pete Burrows

"Convenience comes at a cost." — Ben McEachen

"Use an app that can help you save, like the petrol apps." — Ben McEachen

"It's free to ask. There is no downside to asking for a discount." — Pete Burrows

"Make your own lunch. Retail food can be quite expensive." — Pete Burrows

Join the Money: Faith and Finance Group on Facebook here!

We love your questions. Contact the Money: Faith and Finance team and we will aim to get back to you in a future episode.

Pete Burrows is an accountant for small business and individuals with Lower Russell and Farr in Penrith, Western Sydney, Australia.

Ben McEachen hosts Hope Mornings on Hope 103.2FM in Sydney, Australia.

Support the show, a product of Hope Media: https://hope1032.com.au/donate/2211A-pod/

See omnystudio.com/listener for privacy information.

Do we really need a financial planner? How could anyone plan my money better than myself? They're charging a fee??! Joining us is financial planner Hamish Ferguson, founder and director of Vison Newcastle.

Key Takeaways:

• Financial Planning's Core Value: Financial planners like Hamish Ferguson emphasize both technical skills and relational abilities to offer holistic financial guidance.

• Client-Specific Solutions: Effective financial planning is highly personalized, addressing specific client goals and circumstances.

• Early Engagement: Engaging with a financial planner early in life can set a strong financial foundation and mitigate future financial risks.

• Fee Transparency: A good financial planner provides clear and upfront fee structures, ensuring clients understand the value and cost of services rendered.

• Relational Skills Importance: Beyond technical expertise, the ability to build strong client relationships and communicate effectively is crucial in financial planning.

Notable Quotes:

1. "There are definitely clients that after the first meeting, I would say, look, I don't think you're quite ready for financial advice at this point in time." - Hamish Ferguson

2. "The goal is different to almost the tools we use. And what I typically say to people is, you know, the stock market property, super, our home, at times, they're all tools." - Hamish Ferguson

3. "It's not always about returns, it's about peace of mind and knowing that everything is right and you're on track." - Hamish Ferguson

Resources:

• Vision Property & Finance: Vision Property & Finance

• Money Smart Website: Money Smart Website

Join the Money: Faith and Finance Group on Facebook here!

We love your questions. Contact the Money: Faith and Finance team and we will aim to get back to you in a future episode.

Pete Burrows is an accountant for small business and individuals with Lower Russell and Farr in Penrith, Western Sydney, Australia.

Ben McEachen hosts Hope Mornings on Hope 103.2FM in Sydney, Australia.

Support the show, a product of Hope Media: https://hope1032.com.au/donate/2211A-pod/

See omnystudio.com/listener for privacy information.