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Chapter 1: What are the benefits of simplifying your finances?
Property investors often talk about using debt to build wealth. In the share market, that's called gearing. With the BetaShares WealthBuilder range, investors can access moderate gearing into shares, and with the newly launched GG-BL, That means exposure to a diversified portfolio of around 1,300 global companies excluding Australia, all with no loan applications, credit checks, or margin calls.
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Chapter 2: How can regular check-ins improve financial management?
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That means it's not specific to you, your needs, goals, or objectives, so don't act on the information until you've spoken with your financial advisor. You'll find our full disclosure, disclaimer, and link to our financial services guide in the show notes.
Chapter 3: What strategies can help reduce the number of financial goals?
Kay Campbell, welcome to this episode of the Australian Finance Podcast. Oh, and it is good to be back. Oh, it is indeed. This episode is not sponsored by Vacation Coffee. Really good coffee here in Melbourne, just on the corner of Exhibition and Flinders Street. If you're in Melbourne, there's a tip for you. One of the top 10, I reckon. It's no Patricia's, but it's good. Yeah, there you go.
Chapter 4: Why is it important to close unused financial accounts?
Okay, so today we're talking about simplifying your finances.
Yes. And making your life a little bit easier because there is so much going on already. So if you can take some of the hassle and admin out of your finances and just make it a bit more streamlined and easy to sort of keep on top of, it's a good thing to do.
Yep, so there are gonna be five action points in this, really simple stuff to simplify your finances. That's gonna be punchy. So if you get to the end of this episode, our hope would be that you at least think of one of these things that you can apply, maybe even within 10 minutes after getting off the podcast.
If you're driving, do not put both hands on your phone to figure out, to delete your brokerage app or something like that. But there is something for everyone in here. So try to take one of these things away. One of them in particular, I am focusing on, and I'll explain that when we get to it,
Well, I was just going to say, I think the biggest thing that we've both realized over the past five to 10 years is that complicated does not equal better when it comes to your money.
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Chapter 5: How can you effectively reduce financial administration?
And the more complicated you make your finances, your taxes, your investment structures, you often end up making your life a lot harder in the long run. And a really simple strategy with low maintenance, you don't have to check in or do much on a regular basis can actually end up having the best returns over your long time. Yeah. Lifetime. Lifetime.
We'll go with that. But yeah, the thing is, right, I think the way we currently do finance in Australia, we have an app for this, a website for that, a login here, bank for this. I think that's all going to be done away with in the next 10 years. I think we're going to start to simplify even further. We're going to use automation as a Western world in particular.
Chapter 6: What tools can automate your investments effectively?
We're going to use automation to just completely change a lot of the things that we do. And I think for the most part, this will be like the way we go and see the doctor. Like we schedule a check-in every now and again with our finances. I think we're gonna get to a point where it's all kind of running And we can see that already happening with myGov, where your taxes can be filed automatically.
As long as you've got your tax file number, everything goes in there. We've got apps now that kind of want to do everything for you. So this stuff is going to be easier and easier just to automate.
Chapter 7: How does automation impact long-term financial success?
And basically all you'll have to do is work to get the paycheck and the rest should take care of itself. So, okay, let's get to the five things. I'm happy to be guided by you. Number one is schedule regular check-ins with yourself.
Yeah, so your finances are not something you can leave to chance. And I think it's really important that you do prioritize checking in with your finances, whether you can do it on a weekly or monthly basis.
Actually, just having that, we've said it time and time again, but having a recurring calendar invite in your diary that even if that time doesn't work that month, you can just schedule on another day.
Chapter 8: What are the five key ways to simplify your finances?
But it's just, it brings it up faster.
front of mind that you actually want to spend some time working on your finances that month and just being really proactive by maybe you're not someone who sets a budget but just reviewing your spending for the month and going am i happy with where my money went this month or do i want to adjust my spending so i can spend it a little bit more intentionally because i was just apple paying every day and i didn't really think about where my money was going apple pay how dare you
but even checking in with your financial goals so you might set those big financial goals in January because I know a lot of people like doing that I do too but if you don't actually look at those goals for the rest of the year like sometimes you can automate it in January so it just happens on autopilot but it is a good idea to check in with those goals why you set those goals in the first place and if it's still something you want to work towards and even just learning as well you want to make sure you're putting time aside from that so
I think checking your super, investing, all of this stuff, you can just put a regular calendar reminder, whether it's weekly, monthly, quarterly for different things that you check in with your finances.
I like it. I've actually had a recurring calendar invite that's been going since I think it was 2017. Wow. Yeah. Do I check in every month? No, because oftentimes I get to it and I'm like, oh, I don't really need to change anything or I just can't be bothered. But it's still going. Like I've never turned it off and it's still going in the background.
And it prompts you as well. Even if you don't do it, it's there.
Yeah, it's there. And what I realized is that my goals have changed dramatically from year to year. But I really only had like one or two things on that list so that for many years it was invest $1,000. That was literally like the headline of my calendar reminder. And it just said, invest $1,000 tomorrow.
This was like before I knew you could like automate heaps of different things, which we'll get to in a second. But yeah, that was the thing. And that kind of like habit began to form and it became like, eventually it became one of the big rocks that you put in your jar, so to speak, your money jar first. It became one of those big rocks that I put in there first just from doing that, so.
Super easy and a way that you can kind of just keep it front of mind. And you probably don't need long, do you? You know, you can do this in like 15, 20 minutes. Beth, we had date nights, which were fantastic because it made it fun.
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