Podcasts to help boost your financial literacy

 

Personal finance is the management of your income, expenses, savings, investments, and debt. It affects every aspect of your life, from your lifestyle choices to your mental health.

In this article, we’ll explore how you can build your knowledge around various aspects of personal finance. Here’s a handy list of some great financial podcasts you can listen to on the go to help boost your financial literacy.

A round-up of some of the top financial podcasts of 2023:

MONEY MANAGEMENT

The Australian Finance Podcast  covers the basics of money, investing, and financial independence in Australia. Hosts Owen Rask and Kate Campbell share their insights, tips, and stories.

The Money Puzzle hosted by journalist David Taylor, explores the complex world of money and economics, featuring interviews with experts, policymakers, as well as ordinary Australians.

INVESTING

Australia Investors Podcast hosted by Owen Rask, reveals the lessons, insights, and challenges some of Australia’s most successful investors and entrepreneurs have faced along their investing journeys.

Equity Mates Investing aims to break down the barriers and jargon of investing. Hosts Bryce and Alec chat with experts, fund managers, and industry leaders to learn the basics of investing, discover new opportunities, and hear inspiring stories.

REAL ESTATE

The Property Couch is hosted by Bryce Holdaway and Ben Kingsley, two of Australia’s leading property experts. This show teaches you how to invest in property and avoid making costly mistakes.

Property Investment, Success & Money hosted by Michael Yardney it features interviews with successful property investors, entrepreneurs, and thought leaders. Michael Yardney is considered one of Australia’s most trusted property advisers.

FOR WOMEN 

She’s on the Money empowers women to take control of their finances and achieve their goals. Hosted by Victoria Devine, a millennial money expert and award-winning financial adviser.

Girls That Invest hosted by Sonia and Taylor, two young women who are passionate about investing, inspires and educates women to start investing.

FOR YOUNG ADULTS AND MILLENNIALS

This is Money (formerly My Millennial Money) helps millennials make smart money decisions and have fun along the way. Hosted by Glen James, John Pidgeon, and Jess Knaus.

How to Money is hosted by Matt and Joel, two best friends who love saving, investing, and spending wisely. This podcast features practical advice, reviews, and valuable money lessons.

These podcasts are a great starting point to increase your financial knowledge. When you’re ready to take the next step, we can help you put some actionable plans in place to build your wealth and safeguard your future. Give us a call on (03) 5229 0577 or get in touch through our website here.

 

Any advice is general in nature only and has been prepared without considering your needs, objectives or financial situation. Before acting on it, you should consider its appropriateness for you, having regard to those factors. Before making any decision about whether to acquire a financial product, you should obtain the Product Disclosure Statement.

Income Solutions Geelong No 2 Pty Ltd, ACN 644 550 078 T/A Income Solutions is a Corporate Authorised Representative of Personal Financial Services Limited ABN 26 098 725 145, AFSL 234459.

ReferenceTAL

March Newsletter 2024

 

After a summer of extreme weather in Australia, Autumn’s cooler climate is anticipated. Economic indicators vary, with inflation at a two-year low suggesting a potential rate cut, while retail sales show mixed results and the Australian dollar remains weak despite a slight increase in share prices influenced by global market events.

In this months newsletter we discuss the impact of the proposed tax on superannuation balances over $3 million, and it’s implications for investment strategy and end-of-financial-year contributions. We also talk about the importance of insurance and how it can serve as a tool to address broader risks in life. And last but not least we look at mankind’s long history of trying to stop the clock and reverse the effects of aging from Cleopatra’s donkey milk baths to Ponce de Leon’s search for the fountain of youth.

Read more here

Investing mistakes to avoid

 

Achieving success in investing and improving your investment portfolio often hinges on minimizing errors rather than solely focusing on identifying the ‘next big thing’.

The key lies in adopting a composed and thoughtful strategy, steering clear of blindly following trends or relying on popular advice.

Let’s explore some common investment pitfalls and examine the fundamental principles essential for building a resilient and prosperous portfolio.

Read more here

Roses are red, Violets are blue. It’s so romantic, talking money with you.

 

Money can be a contentious topic in any relationship. Yet, its significance cannot be understated. Among the myriad of issues that couples navigate, financial matters often rank high in terms of importance and potential conflict. Despite its sensitivity, discussing finances openly and honestly with your partner is not only crucial but can also strengthen the bond between you. Let’s delve into why this conversation is so essential.

 

  1. Establishing Trust and Transparency:

Open communication about finances builds trust and transparency within a relationship. Sharing details about income, debts, savings, and financial goals demonstrates a willingness to be vulnerable and honest with your partner. It lays the foundation for a strong and secure partnership where both parties feel valued and respected.

 

  1. Aligning Goals and Priorities:

Money touches every aspect of our lives, from daily expenses to long-term aspirations. By discussing finances, couples can ensure that they are on the same page regarding their goals and priorities. Whether it’s saving for a house, planning for retirement, or budgeting for vacations, having these conversations allows partners to align their visions for the future and work together towards common objectives.

 

  1. Resolving Conflicts and Reducing Stress:

Financial disagreements are a leading cause of relationship stress and conflict. However, avoiding these discussions only exacerbates the problem. By addressing financial issues head-on, couples can identify potential sources of tension and work towards mutually beneficial solutions. Whether it’s creating a budget, renegotiating spending habits, or seeking professional advice, proactive communication can alleviate stress and prevent conflicts from escalating.

 

  1. Building a Strong Financial Foundation:

Successful financial planning requires teamwork. When couples openly discuss their finances, they can leverage each other’s strengths and expertise to build a strong financial foundation. Whether one partner is more knowledgeable about investments or budgeting, pooling resources and working together allows couples to make informed decisions that benefit both parties in the long run.

 

  1. Navigating Life’s Transitions:

Life is full of unexpected twists and turns, many of which have financial implications. Whether it’s job loss, illness, or a new addition to the family, discussing finances prepares couples to navigate these transitions together. By planning for contingencies and having open conversations about financial priorities, couples can weather life’s storms with greater resilience and unity.

 

  1. Cultivating Intimacy and Connection:

While discussing finances may seem mundane, it can actually deepen intimacy and connection within a relationship. Sharing financial goals, dreams, and fears fosters a sense of intimacy and understanding between partners. It requires vulnerability and trust, which are essential components of any healthy relationship.

 

  1. Strengthening Commitment:

Finally, discussing finances reaffirms a couple’s commitment to each other and their shared future. It signals a willingness to face challenges together and work towards common goals. By openly discussing finances, couples demonstrate their commitment to building a strong and enduring partnership built on trust, communication, and mutual support.

 

In conclusion, discussing finances with your partner is not just about money—it’s about building a strong and resilient relationship. By fostering trust, aligning goals, resolving conflicts, and cultivating intimacy, couples can navigate the complexities of financial management together. So, don’t shy away from these conversations. Embrace them as an opportunity to strengthen your bond and lay the groundwork for a secure and prosperous future together.

 

If you are ready to discuss your financial future get in contact with one of our Advisers today by giving us a call on (03) 5229 0577.

 

The advice on this site is of a general nature only and has not been tailored to your personal circumstances. Please seek personal advice prior to acting on this information.

Remembering that nothing stays the same

 

I’m a child of the 70’s, and for a bit of fun we recently attended a 70’s party.   Apart from the questionable clothes and food choices of our youth (my recommendation is re-visit deviled eggs – pretty good actually!), one thing we laughed about as we were rummaging through old vinyl records was the cost of the compilation album, Ripper.  Released in 1975, providing the latest and greatest from the Skyhooks, Sherbet, ONJ, Donny & Marie Osmond – oh how I could go on – it displayed it’s original Brash’s paper price tag of $4.99!   I repeat $4.99!   So apart from the fact that we’ve since been through cassette tapes, CD’s (technology that was never going to be replaced) and we’ve landed on streaming services, what else has changed:

  • A McDonald’s Big Mac in 1975 cost 65 cents 1 (imagine, if you can, that McDonalds was an exciting new restaurant, not long landed in Australia). Today the same burger will set you back $7.65 2.
  • In 1975 the average house price in Melbourne was $19,800 3. It is $943,725 4
  • A ticket to the Sunbury Music Festive cost $20.00 5 for 3 days in 1975. General admission to Beyond the Valley last year was $389 6 for a 3 day pass.

Looking back on nostalgia of your era (whatever era that may be) is great fun, but life is about looking forwards, not backwards.  Australia’s average life expectancy is 81.2 years for males and 85.3 years for females 7.  As a result, we are retired for decades, not just years.   Not only are we living longer than our parents, we also expect to do more in retirement – perhaps even continue to attend music festivals.

For this very important reason, time invested now can set you on the path to achieve a satisfying retirement, one that continues to enjoy the best life has to offer.  One of Income Solutions core values is knowledge, which we define as “we have a quest to further our knowledge and the knowledge of our clients”.   At the heart of this value lies our monthly “Common Sense Investing” presentation, run free of charge each month, and designed to provide you with the knowledge you need to make informed investment decisions and start to take ownership of your future.  We’d love to help you start this journey – visit https://www.incomesolutions.com.au/event-item/Common-Sense-Investing-Information-Evening/ for more details and to book your spot at our next seminar at 5:30pm on Wednesday 21st February 2024.

 

Written by Alison Adams

 

1 https://www.eatthis.com/big-mac-cost/

2 https://mcdonalds.com.au/mymaccas-rewards

3 https://au.finance.yahoo.com/news/house-cost-australian-cities-in-1975-210000133.html

4 https://www.openagent.com.au/suburb-profiles/melbourne-property-market

5 https://www.onlymelbourne.com.au/sunbury-music-festival-1972-to-1975

6https://www.thatfestivalsite.com/article/Beyond%20The%20Valley%202023%20Ticket%20Prices%20Released

7 https://www.abs.gov.au/statistics/people/population/life-expectancy/latest-release

February Newsletter 2024

 

  • Riding the AI wave to make your life easier
  • Tax changes – what it will mean to me
  • How to start a conversation about money

Have a read here

 

 

Common Sense Investing Seminar 2024

 

Our experience tells us that people are often expected to make important financial decisions when they have 20% or less of the information they really need. For this reason, mistakes are often made. Nobody should be expected to make sound decisions about money with only a fraction of the information required for proper judgement.
At Income Solutions, we have a well researched four-step process which has been carefully designed to give you 100% of the knowledge and understanding you’ll need to make sound financial decisions.

The first step in this process is our Common Sense Investing Seminar. This information session is designed to open your eyes to an exciting and strategic way of thinking about your financial future, motivating you to achieve more.

Details of our next session are as follows:

When: Wednesday 21st February 2024
Where: Geelong Office – 153 Mercer Street, Geelong VIC 3220
Time: 5:30pm

Secure your spot here

January Newsletter 2024

 

In 2023, positive developments included robust property markets in Perth, Adelaide, and Brisbane, where monthly house prices rose by over 1%, contributing to an 8.1% increase in CoreLogic’s national Home Value Index for the year. Superannuation funds rebounded, with the median balanced option expected to return 9.6% in 2023. Despite the Australian economy’s 2.1% growth, marking the eighth consecutive quarter of expansion, concerns arise from a slight uptick in November’s unemployment to 3.9%, a rise of around 81,000 unemployed individuals, and a 0.4 percentage point increase in the unemployment rate, along with ongoing pressure on the Australian dollar amid global economic dynamics.

Read more in our January Newsletter here

 

A New Year, A New Financial Chapter: Setting Your 2024 Financial Resolutions

 

As the new year approaches, it’s the perfect time to reflect on our financial habits and set new goals to achieve better financial health. Whether you’re looking to save more, invest wisely, or pay off debts, establishing clear financial resolutions can pave the way for a more secure and prosperous future. Here’s a guide to help you set your financial resolutions for 2024:

Reflect on the Past Year

Begin by reflecting on your financial journey in the past year. Take a look at your income, expenses, savings, and investments. Celebrate your successes and acknowledge areas where you may have fallen short. This reflection provides a solid starting point for setting achievable goals.

Define Clear and Attainable Goals

Set specific, measurable, achievable, relevant, and time-bound (SMART) financial goals. Whether it’s paying off a certain amount of debt, saving for a down payment, building an emergency fund, or investing in your retirement, clarity is key. Break down larger goals into smaller, actionable steps to make them more manageable.

Create a Budget and Stick to It

A budget is your roadmap to financial success. Outline your income sources and allocate funds for necessities, savings, investments, and discretionary spending. Review and adjust your budget regularly to stay on track and adapt to any changes in your financial situation.

Prioritize Debt Management

If you have outstanding debts, prioritize creating a plan to pay them off systematically. Consider strategies like the debt avalanche (paying off high-interest debts first) or the debt snowball method (paying off smaller debts first for psychological wins). Set specific targets and commit to making regular payments.

Build an Emergency Fund

Life is unpredictable, and having an emergency fund is crucial. Aim to set aside a certain amount—ideally three to six months’ worth of living expenses—in a separate savings account. This fund acts as a safety net during unexpected financial hardships, ensuring you don’t need to rely on credit or loans.

Learn and Invest Wisely

Make 2024 the year to enhance your financial knowledge and take the time to educate yourself about different investment options. Consider consulting with a financial advisor to create an investment strategy aligned with your goals and risk tolerance – we are here and happy to help.

A great first step is attending one of our Common Sense Investing seminars which we run monthly throughout the year commencing in February for 2024. The seminar is the first step in our process designed to help you understand investing from an “income” perspective. Book your spot at the next seminar here.

Review and Optimize Expenses

Regularly review your expenses to identify areas where you can cut back or optimize. Look for subscription services you no longer use, find more cost-effective alternatives for everyday expenses, and limit impulse purchases. Redirect these savings towards your financial goals.

Automate Savings and Investments

Set up automatic transfers from your paycheck to your savings or investment accounts. Automating these contributions ensures that you consistently save or invest without the temptation to spend the money elsewhere.

Monitor Progress and Stay Accountable

Regularly track your progress towards your financial goals. Use apps, spreadsheets, or journals to monitor your income, expenses, savings, and investments. Consider sharing your goals with a trusted friend or family member to hold yourself accountable.

Practice Self-Compassion and Persistence

Remember, financial journeys often come with ups and downs. Be kind to yourself if you face setbacks and stay persistent in pursuing your goals. Adjust your strategies if needed, but don’t let temporary obstacles derail your long-term financial plans.

 

As you step into 2024, envision a brighter financial future by setting clear and achievable resolutions. Commit to these resolutions with dedication, discipline, and adaptability. By taking small, consistent steps, you’ll pave the way for greater financial stability and peace of mind in the year ahead.

Embrace the journey towards financial empowerment, and let 2024 be the year you make significant strides towards your financial aspirations!

December Newsletter 2023

 

It’s December – the month that always seem to race by as we approach the end of the year and all the festivities it brings. We hope you all have a lovely, happy, and safe festive season.

While it is the season for giving, financial well-being is a gift worth giving yourself and something that will have a positive impact on your financial future. Read more in our December newsletter here.

    Book an Appointment

    Accessing Income Solutions Accounting is as easy as clicking to book an appointment and completing our simple online form.

    captcha

      Book an Appointment

      If you have any questions, or would like to book a free initial consultation, please enter your details, and any comments below.

        Get your webinar link

        Please complete the following form, and you will receive a confirmation e-mail containing your link.

          Apply Now:

          To apply please fill out the form below, and upload your resume.

            Book an Appointment

            If you have any questions, or would like to book a free initial consultation, please enter your details and any comments below.