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Chapter 1: What motivated Chanelle to improve her finances during lockdown?
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Chapter 2: How can donating blood benefit both you and others?
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You'll find our full disclosure, disclaimer, and link to our financial services guide in the show notes. Kate Campbell, welcome back to this episode of the Australian Finance Podcast.
It's good to be back, Owen, on this beautiful Friday morning.
It is indeed. Spring has officially arrived in Melbourne, which is nice. And we are nearing the end of lockdown, which is always, always a treat. But we have an extra special guest with us today. Chanel, how are you going?
I'm good, thank you. How are you?
Yeah, good. Thank you.
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Chapter 3: What free resources are available for learning during lockdown?
Thanks for joining Kate and I. I wanted to assure you off air just a minute ago that we didn't have to hit record because you were the recipient of our Apple Watch giveaway last month. And for those listeners who don't remember what it was, we...
asked everyone in the community to share 10 things basically that we put on a list and show air quotes proof that you've done them by submitting into the social channels or into our Facebook group. And Chanel, you were the lucky recipient. You were the one who earned it, I guess. You weren't just lucky. How have you found the Apple Watch so far as a fellow Apple Watch user? Has it been okay?
Okay.
Yeah, no, it's been great. I've never had one before. I've sort of just like looked at getting one, but never committed. So yeah, it's really pleasant surprise in the middle of lockdown. And it's nice. I was talking to Kate earlier about how you can like track your sleep and I've never seen that before. And yeah, it's been really cool, especially in lockdown.
Yeah, yeah, for sure. I found that with our team, we've all kind of taken it in our stride just to be a little bit more, I guess, active. Particularly Kate. Kate has been extra active, kicking goals, literally.
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Chapter 4: How can you consolidate your superannuation accounts effectively?
So it's great. And so basically the way it worked was that You've submitted your kind of 10 things that you did and we're going to go through them today. But maybe before we get to those things, maybe you can just tell Kate and I and listeners a little bit about how, you know, you got started thinking about money and kind of maybe even like the resources that you used.
Yeah, so I think I started thinking about it at the beginning of our first lockdown, so March last year, because I had just gotten back from six months abroad studying. So I kind of came back with like $0 in my bank account and was fortunate enough though to be eligible for JobKeeper because I never quit my job in hospitality and I came back and worked a few weeks before we locked down.
So I was sort of like receiving the 750 each week wondering like what should I do with it? Like I can either put it in my savings account and just like build it back up to what I had before I went overseas. But then I sort of thought maybe that's gonna take a long time. Like I'm gonna be here for a very long time.
So yeah I started just looking into shares because I never really knew anything about it. My dad has kind of always been like a invest in property kind of guy. But that's also intimidating because you need so much money for a deposit. So yeah, I started listening to podcasts, read some financial books that you already had. I did your like starter beginner shares and ETF courses.
And yeah, so I just started from there and I've just been learning as I go, like finding different resources and articles and things.
It's amazing how many people like lockdown has been a great project and a great time to actually get on top of their finances.
Yeah, I think it's because you're definitely not spending as much as what you originally would. And so you kind of like look in your bank account and you're like, wow, I have more money than I thought I would this week.
i think some people it kind of goes two ways some people get really you know intimidated and put off by lockdowns obviously because it's a pretty traumatic time some people kind of have to set themselves goals right so you've definitely set yourself some goals and kind of you're just kicking them so how's how have you found like managing money during lockdown have you just found that it's like easier to save
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Chapter 5: What strategies can help you manage your tax return better?
Yeah, I definitely find it's easier to save because I've never really been a big spender anyway. So I think I'm definitely more of a saving kind of mentality. I just tend to spend everything all at once, like going overseas for six months or like buying a car or things like that. But I think, yeah, I'm more of a saver.
And during lockdown, I'm just sort of like thought more critically about what I'm spending my money on. I think outside lockdown, I buy a lot of coffee and like go out and eat a lot more with friends than what I do, obviously, in lockdown. So just kind of like realizing where all your money goes. And yes, I sort of just like organize my bank accounts a bit better.
And yeah, just a bit more thoughtful, I guess.
It's definitely been a perspective shift, especially for me and a lot of people I've spoken to of things that were really important to you before maybe aren't as important now. And like you might have valued spending a lot on materialistic things before, but now it's kind of like after lockdown, I want to spend money on experiences and travel.
That's going to be my priority over the next few years. Have you found that sort of like a perspective shift for you?
Yeah, for sure. I think I've also kind of been more of a experienced kind of person as well over material items. But I think just being, you know, stuck in one place just so long kind of, yeah, your drive to travel is a bit bigger. And yeah, it's kind of what you're saving towards or I am.
Yeah, absolutely. Now, you shared an amazing list of 10 things with us. And I think there's a lot of suggestions that listeners might like to take on board themselves.
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Chapter 6: How does limiting takeout contribute to saving money?
There's a lot of ways to save money, get started investing. And you had a few other sort of tips that people might not think about that often, which I'll let you share. But yeah, I'll hand it over to you, maybe share each of the 10 items and sort of a little bit of sort of elaboration on each one just so you can kind of share your experience with us.
Yeah. Okay. So my first one was I'm a big reader and sort of find that buying books all the time can add up, especially if you don't really have the space for them all and they're really expensive. So my local library in lockdown, you obviously can't go and borrow hard copies of books, but they have an app. There's two apps that my local library is affiliated with, BorrowBox and LibGuide.
And so you just like download the apps, log in with your normal membership number and password, and they have a huge range of e-books and audio books. So I've just been reading a lot of those and you can borrow them for up to like 20 days, have I think like five at a time and even reserve them for in the future. So that's been a really good way to sort of keep busy, read.
I think I've read about 10 in the last three months, which is a bit ridiculous.
That's great.
Yeah.
So this is just like, um, I haven't used this, so it's just like a normal book, like you'd borrow, except it's just a digital version. So you have to kind of air quotes, give it back and then the next person gets it. Yeah. Right.
Yeah, exactly like that.
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Chapter 7: What steps can you take to build an emergency fund?
Yeah. And so, um, because I think only like there's a limit on how many people can be reading it at one time. So it might say like your book isn't available until December. But if it's a really good book, I find that it's available so much quicker because people read it in less than allocated time. Oh, okay.
I thought it would have been the other way around. There would have been heaps of people virtually lining up for it.
No, it's a cool way to read, I guess. And I think it'd be cool to continue even after lockdown. Yeah, you can just read on your phone.
Cool.
I like it. My second one is starting to donate plasma at Lifeblood Australia. I first donated whole blood in high school and then sort of forgot about it. It was ineligible for a while. But at the beginning of lockdown last year, I think I heard an ad on the radio about how they needed donors. So I got back into it. It's awesome to do in lockdown because it takes like about an hour.
It's a reasonable excuse to leave home and you get like a free snack afterwards. So I find that and you save lives.
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Chapter 8: How can engaging in financial discussions improve your knowledge?
yeah yeah there's the added benefit of saving lives right and so yeah because we were talking about this i donated blood recently you can um donate blood which is every two three months and plasmas every two weeks with life yeah so that's um that's a great way to do it right like everyone needs blood everyone needs plasma so yeah good way to donate if you can't give financially too
yeah yeah that's what i found um i think lots of people might not be in the best financial situation to donate to charities if they normally would uh so this is a perfect way to still feel like you're giving yeah especially because it's been quite hard to you can't physically sort of donate your time to many charities at the moment like the op shops and all those sort of traditional places are closed but donating blood still something that's really necessary and it doesn't cost you a cent in fact you get snacks so
Exactly.
And my third one was I am in the middle of doing two free New South Wales TAFE lockdown short courses. They have so many ones available. I chose two that are sort of like relevant to my industry. I completed the Bachelor of Psychology at the beginning of the year, but
I'm doing one in an introduction to community services and then alcohol and other drug work so one of them is just like self-paced online but then the other one has optional classes that you can join each week but they're just like short assignments kind of work through the content at your own pace but yeah you get a certificate at the end and it's sort of been a good time filler and it can go on your resume for sure it can yeah extracurricular stuff that's awesome
And I think that's a really good one to mention because I don't think the government's publicized enough that a lot of the like the states have subsidized like heavily subsidized or free courses at the moment as part of like the job maker program. So that's definitely something people should check out.
There was a lot available, like, especially for Victoria when I looked a few months ago, I think when we mentioned something like this.
So I didn't know what you meant by number four. So your fourth one here, I didn't understand the first hyphenated word. So you're going to have to clear this one up for me.
Oh, procrastinate. Okay. Yeah.
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