918b wwgd: Warren is mortgage-free & wanting a new car, home battery & bathroom reno
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What financial goals is Warren looking to prioritize?
You might be at the stage in life where you need to fund a bathroom, a bloody kitchen, solar β flipping cars died and you need a new car. All these things are normal and are part of our life and our financial life. The question is, what do we do and in what order? Well, today on the show, we've got a what would Glenn do? And if you are new here, I go through a listener's current situation, drill deep to find out their bedrock. And then what we do, we kind of work through and I let them know what I would do if I was in their situation. A couple of things. If I say something and you don't agree with me, that is awesome. Let us know in the YouTube comments. I'm always hanging around in there on an episode specific level.
But if you don't agree with me and you are outraged, that's totally fine because that's just what I would do. You might hear something that our guest says today and decide to do something completely different in that situation, and that's what this is all about. This is general financial advice only. Guests that come on the show agree that they need to get their own personal financial advice, but until then, who we got and what are we doing? Hi, this is Warren, and you're listening to the Money, Money, Money podcast. Before we get into it, this show is general advice only. I've got a license to provide that advice. Full details can be found in the show description. My name's Glen James, former financial advisor.
I host this show and a show called Retire Right. I've got some books, the award-winning Quick Start Guide to Investing and the Quick Start Guide to Your First Property available where good books are sold or in the description. If you're new here, welcome. If you're an old hand, welcome to M3. Let's get into it right now. All right, Warren, thank you for coming back to the studio. You've seen Warren in the Facebook group before, your regular pest in there. I try to be, yeah. Yeah, commenting all over the place. Hey, you've put, what would you like to ask Glenn?
How does Glen assess Warren's financial situation?
Would like to know how best to fund the bathroom project, house battery, and possibly a car upgrade. Anything else that kind of is ticking in your mind about why you wanted to jump on here today?
Not really. Like I said in my request to you guys that ultimately we are pretty debt free and we're not people who generally like to go into debt for no reason. So we just wanted to get an honest opinion from someone else about the best way for us to go forward at this point.
Yeah. Well, let's take a deep dive of your current situation. Warren, how old are you? I'm 46. Cool. Do you have a spouse or partner?
I do have a wife and she is 44.
Awesome. Do you guys have kids?
Yes, we have two. We have a girl, eight, and a boy, six.
Awesome.
Pets? Lots of them.
Oh, gosh. There's a story there. Yeah.
So yeah, we're on three acres. So we have obviously a couple of dogs like most people do, but we also have some sheep. We've got some chickens. We've got some guinea fowl. Yeah.
We've got a lot. Did you bring me any eggs down?
Not today, but I will next time.
What are the implications of the mother-in-law arrangement?
Yeah, absolutely.
Love a good farmed egg. So what do you do for work?
I'm a rural merchandise manager for a company store that we have.
Yeah, okay. So that's kind of, would you say it's like Bunnings for farm people type thing?
Pretty much, yeah. So obviously anything a farmer needs, they come to us and either they come to our store or we have four trucks on the road that deliver to them.
Yeah. So Warren has driven down from the valley, I guess, down into Newcastle, about an hour out of Newcastle up in the Hunter.
Yeah, yeah. We live around Maitland.
Yeah, sweet. What's your wife do for work? My wife runs a small business and she's an occupational therapist. Yeah, cool. And in terms of the working scenario, are you both full-time?
I work full-time and then my wife works four days a week. Yeah, cool. Like I said, she does have her own business, so she is pretty flexible with her hours.
And I mean, you know, you're in that primary school age, school run stuff.
School runs and kids sick and all the rest of it.
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Chapters
8 chapters
1
What financial goals is Warren looking to prioritize?
0:06β2:09
2
How does Glen assess Warren's financial situation?
2:09β3:16
3
What are the implications of the mother-in-law arrangement?
3:16β4:40
4
How can Warren fund the bathroom renovation project?
4:40β6:00
5
What considerations are there for purchasing a new car?
6:00β7:50
6
How does Glen suggest managing household expenses?
7:50β9:21
7
What are the benefits of having a home battery system?
9:21β10:38
8
What are the long-term financial strategies discussed?
10:38β49:49
Speakers
3 identifiedMore from money money money
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