927 the 6 reasons why you suck with money
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What are the six reasons why you might struggle with money?
Today on the show, we are talking about potentially six or more, there'll probably be more ways, why you suck with money. And I say this from a person and a position that, you know, left to my own devices, I actually suck with money. I'm really bad at money. It's really bad. But I've had to put systems in place and all that to learn how to be better with the money that I've got and keep as much as I can. So we're going to get through a heap of things. Today, it's a slightly different episode. One, because John's on time. Nah, joking. He's always on time. So we do have John Pigeon from This Is Property, the podcast. the show, also here on YouTube and all that stuff. But John, you have brought in a friend of the show today.
I have indeed.
Before we cut to the friend of the show, tell us about this friend of the show.
Why is taking money seriously important for financial success?
Well, this friend of the show approached me confidently about a couple of months ago and said, hey, John, Don't know what you do, but I wouldn't mind hanging out for a day with some work experience. So all the way from the Central Coast, he's one of my sons, or Max, my son. He's a good friend. So Toby, here he is, year 11 at St. Edward's College on the Central Coast.
Well, there you go. Hey, Toby. Hey, guys. Thanks for having me. No worries. Thanks for dropping into the studio with the Pidge dog. So Pidge said, oh, I'm bringing a work experience. student. I'm like, sweet, we'll put him to work.
How can setting financial goals improve your money management?
So let's make some money off the back of his talent today. Reach out to his followers. That's right. New base. Yeah. So we've also, Toby, you're in year 11. At the moment, what did you decide to do for work experience?
Well, it's for my subject, financial services. So it's a vet course and you have to do a requirement of 35 hours of work placement. And first of all, I started with kind of just trying to wing it and go with mum and do a bit of mortgage broking in that kind of game down at loan market. And then I thought... Whoa, whoa, whoa. We're not dropping commercial names here, bro.
But proceed. But go on.
Yeah, and I thought another good thing, I hit John's son Max up and I thought I'd like to see what John does for work.
What are the risks of being impulsive with spending?
So come along today and look where I am now. Look here. On the big desk. On the big desk. Yeah, and it's hard to get in this room, Glenn.
It is.
Like a lot have tried to knock the door down.
Yeah. So in the spirit of information that no one needs to know, we'll go there. So Toby's grandmother, Leanne, when I first started my financial advice business, I rented an office from within her business at Low Market on the Central Coast. And Lauren, your sister, I think she was in the year above my sister, but I was in- Mum. Sorry. Do you know what's freaking me out? He's got a sister, but she's younger. I know, I know, I know.
How do liabilities differ from assets in personal finance?
She's younger. Sorry.
She's not that young. No. Sorry, Lauren, your mother. It's because she looks so young, Lauren.
That's right. So Lauren, your mother. Yeah. We went to school together. I was in the same year as your uncle. So I'm getting confused. I need to draw the family tree. Yeah. But yeah, all grew up in the same suburb, same vibe, all that.
What systems can help you manage your finances effectively?
I even said to Toby today, are you still on X Street or the street they live on? And he is, so I know the area very well. So Toby's going to join us today. We do have permission from your mother to be on the show. Yes. So any time we have anyone under 18, we get that royal assent from the Queen of Berkeley Vale.
Absolutely, and she is too. Wicked witch some say, wicked witch of Berkeley Vale when it comes down to Halloween time. Yeah. Toves are fitting quite well. You don't mess with her. No, you wouldn't want a stepmom.
Tove might get a regular spot on the show.
If I can't make it, Toves, you can just make your way here.
Anyway, forget Loan Market.
How does your social circle impact your financial habits?
This episode is brought to you by Sphere Home Loans. Third time you've mentioned them. I know, yeah. Good business, Loan Market. But this episode and this podcast is brought to you by Sphere Home Loans. They are a mortgage broker. They help people all over Australia and they help people
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Chapters
8 chapters
1
What are the six reasons why you might struggle with money?
0:06–1:07
2
Why is taking money seriously important for financial success?
1:07–1:44
3
How can setting financial goals improve your money management?
1:44–2:35
4
What are the risks of being impulsive with spending?
2:35–3:19
5
How do liabilities differ from assets in personal finance?
3:19–3:40
6
What systems can help you manage your finances effectively?
3:40–4:21
7
How does your social circle impact your financial habits?
4:21–5:24
8
What steps can you take to align your financial goals with your spending?
5:24–1:06:59
Speakers
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