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.

Past Ep - Making Housing More Affordable

Past Ep - The Blessing and Curse of Inheritance

Past Ep - Mastering Money Mindset: Balancing Logic and Emotion

Key Takeaways:

• Changing Conversation on Housing: In Australia, perceptions and discussions have drastically changed, necessitating a new approach to homeownership versus renting.

• "Rent money is dead money"????: Challenging long-held beliefs, renting can offer significant financial benefits, such as lower costs and greater flexibility.

• Buying Costs: The interest part of mortgages is equivalent to 'dead money,' similar to rent, a reality many overlook when evaluating homeownership.

• Investment Alternatives: With the high costs associated with buying property, exploring alternative investment options and savings strategies is crucial.

• Future of Housing: The solution to the housing crisis lies in building more homes, rethinking government policies, and adapting to demographic changes and economic demands.

Notable Quotes:

1. Ben McEachen: "What has happened to the Australian dream of owning your own home?"

2. Pete Burrows: "Interest on your home loan is just the price of renting money off the bank."

3. Ben McEachen: "Renting was something you did as a stepping stone towards buying your own house. That's totally changed now."

4. Pete Burrows: "If parents were going to help you, it would have been to help you get into a house, but now we need to rethink our priorities."

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.