Riddle me this - what is the one thing you want to buy, but never use? INSURANCE! Today we’re talking about how to keep you and your loved ones protected.

 

We’ve got Marnie Maloney, one of our LFC Ambassadors and a brilliant insurance broker to help break it down for us. She helps us understand which insurances we actually need, which are the most important and which ones can we get in our super.

 

This is an important one so listen up!

 

First up - why do we need insurance? Marnie explains all the reasons it’s essential and steps us through the different kinds of insurance we’re discussing today - life insurance, income protection, total permanent disability (TPD) insurance and trauma insurance.

 

Basically, insurance gives us options. But what if you not earning that much - is it even worth it? Marnie explains how the ability to earn an income is your most important asset and why it’s important to protect it.

 

Marnie shares some of the stories that have really stood out for her, and how having insurance has really saved those people’s bacon.

 

She answers all our burning questions - if you feel like you can only afford one insurance, which one should you get and does being on a Mental Health Care Plan affect getting insurance?

 

But the big question is - how expensive is income protection? Marnie reveals how age, waiting periods and benefit periods affect the cost.

 

Is this the wake-up call you needed? Dive in to get the low down on the why and how of insurance!

Resources mentioned:

 

Spriggy account

 

Books: Where the Crawdads Sing / Change Your Thinking by Sarah Edelman

 

Travel money cards

 

ING cards

 

CONNECT WITH MARNIE MALONEY

 

Website:  https://www.protectedlife.com.au/index.php/who-we-are

 

LinkedIn:  https://au.linkedin.com/in/marnie-maloney-9ab911aa

CONNECT WITH LADIES FINANCE CLUB

Join our free facebook group - Ladies Finance Club Money Chat

 

Website: https://www.ladiesfinanceclub.com/

Instagram: https://www.instagram.com/ladiesfinanceclub/

LinkedIn: https://www.linkedin.com/company/ladies-finance-club/

Throw some coins in our tip jar: https://buymeacoffee.com/ladiesfc

See omnystudio.com/listener for privacy information.

We’ve all felt how awkward it can be to talk about money in relationships but it’s such an important conversation to have early and often in order to avoid any issues or misunderstandings down the line.

In today’s conversation, I’m chatting with Betsy Westcock, a superb financial wellness coach in Sydney, who explains why it’s never too early to have that uncomfortable conversation. We need to discuss everything from how to pay for a date night or a weekend escape to all of our dreams, big money goals and spending priorities.

Now I know how people tend to avoid talking about those dreaded numbers, in fact, the Ladies Finance Club conducted a poll that showed one in five people didn’t even know how much their partners earned so Betsy’s advice can not come any sooner! 

Betsy covers the importance of discussing how money will be managed on a day-to-day basis, what each partner brings to the relationship, what goals the couple has and what would happen if one of you loses your job, stays home with children, or gets sick.

We all have different financial backgrounds and mindsets so by chatting about how bills will be split, how to manage unexpected costs, and how to put money towards long-term and short-term goals, you’ll always stay on the same page and not start to resent your partner. 

Life can be so unpredictable so we have to prepare for any unforeseen circumstances by maintaining our financial autonomy, even when we’re in a relationship. Betsy is here to help you out with many useful apps and strategies to establish your financial independence and help manage any shared expenses.

Listen in for all of Betsy’s tips to structure your regular money conversations as a couple to stay on track, grow together and achieve your financial goals with joy!

 

Resources mentioned:

App: Beem It

App: Splitwise

 

CONNECT WITH BETSY WESTCOTT

Website: https://www.betsywestcott.com/

Instagram: @betsywestcott 

LinkedIn: https://www.linkedin.com/in/betsywestcott/ 

 

CONNECT WITH LADIES FINANCE CLUB

Join our free facebook group - Ladies Finance Club Money Chat

Website: https://www.ladiesfinanceclub.com/

Instagram: https://www.instagram.com/ladiesfinanceclub/

LinkedIn: https://www.linkedin.com/company/ladies-finance-club/

Throw some coins in our tip jar: https://buymeacoffee.com/ladiesfc

See omnystudio.com/listener for privacy information.

In today’s episode, I’m interviewing the incredible Meggie Palmer. Meggie is the founder of PepTalkHer, has created a free App that is all about helping women negotiate their salaries, has worked with fortune 500 companies and used to be a foreign correspondent for the BBC. She’s passionate about helping women to get paid what they’re worth and is on a mission to see 50/50 women in leadership roles. 

If even thinking about talking to your boss about a pay raise fills you with dread, you’re not alone. The first time I wanted to negotiate my salary I felt sick to my stomach, started shaking and was full to the brim with nerves. Meggie is here to help us all tackle this difficult next step on our financial growth journey and provide proven strategies to get rid of our fears, reframe our mindset and walk into that terrifying conversation with confidence. 

We’ll begin with the common mistakes women are making with their salaries. Firstly - You deserve a pay rise! Even if you’re happy with what you’re earning right now. Remember, you can negotiate for what you’re truly worth, every single year and not just once! Even if the idea of that makes you feel sick like I did. 

Meggie tells us if you want to feel valued and recognised in your workplace - negotiate your salary. Some employers even look for staff that actively negotiate for themselves because they know they will have the skills to advocate for the business too. We explore how to frame the conversation by identifying the value you will bring to the company or are already contributing. 

Meggie is excited to help women change their financial futures. One of her clients obtained a 14% pay rise when everyone else in her team got a 5%. She has even had three women in her program negotiate their way to six figure pay increases! Wow!

So where do you start? 

Timing is everything and preparation is key. There is a window for every company and Maggie will run us through how to determine when to bring it up and what documents and information to bring into the room. 

But what happens if they say “no”? It’s not the end of the world and it doesn’t mean you shouldn’t ask and ask regularly. Negotiating is a muscle and you need to practice it often to master the skill. 

Meggie runs us through her app PepTalkHer and how it was started with the mission to close the gender pay gap and help women get paid what they’re worth. It will get you career fit and allow you to record all of your wins and the amazing things you’ve done for the business so you can bring a brag book into your salary negotiation and grab that pay raise. 

Meggie shares practical strategies to start using like the FYI email to give you a point of connection with your boss and highlight what you’ve achieved that week and what you’re focusing on in the next week. 

We then discuss the top questions sent in from listeners and Meggie shares all of her expertise on how to handle each situation to achieve the best outcome. 

Every single woman needs to listen to this episode and take onboard Meggie’s wisdom and advice. Start off 2023 by becoming a champion for yourself and remind your boss of the amazing value you bring every day. Your future self will definitely thank you for it! 

 

RESOURCES MENTIONED:

Podcast: Chill & Prosper with Denise Duffield-Thomas

Author: Minda Harts 

Book: How to Build a Goddamn Empire by Ali Kriegsman

 

CONNECT WITH MEGGIE PALMER:

Website: https://www.peptalkher.com/

Instagram: @peptalkher

LinkedIn: https://www.linkedin.com/company/peptalkher/

Check out PepTalkHer’s free resources here! 

 

CONNECT WITH LADIES FINANCE CLUB

Join our free facebook group - Ladies Finance Club Money Chat

Website: https://www.ladiesfinanceclub.com/

Instagram: https://www.instagram.com/ladiesfinanceclub/

LinkedIn: https://www.linkedin.com/company/ladies-finance-club/

Throw some coins in our tip jar: https://buymeacoffee.com/ladiesfc

See omnystudio.com/listener for privacy information.

On today’s episode we have the wonderful Grace Bowe joining us. Grace is a mortgage broker and she takes us through what you need to do to get onto that property ladder!

Grace is passionate about educating and empowering Australians to improve their financial literacy and their financial well-being. We have that in common!

So many women ask me if it’s even possible to get on the property ladder?! Grace is here to step us through why it is NOT impossible!

One of the reasons that buying a house can feel so out of reach is that 20% deposit! Grace steps us through some different ways around the 20% deposit burdle and what exactly Lenders Mortgage Insurance (LMI) is.

Grace steps us through some of the common mistakes that people make buying property, including not using a mortgage broker, credit limits and the loyalty tax. And no, that first tip is not a shameless plug. Mortgage brokers can make the stress and overwhelm of home loans so much more simple. They’re essentially like a personal shopper for your home loan! We also bust some myths around mortgage brokers and how they are paid!

So next. how do we work out the price limit for  our new home? Grace explains that knowing what your borrowing capacity is is the most important first step! She also steps us through about what makes a good home loan application and what banks look for when they’re considering lending to you.

Then, how do you actually go about buying a house?! Grace explains what a pre-approval and why it makes such a big difference when you’re putting an offer in.

Grace also takes us what to do if we’re struggling with a deposit. She talks us through the government scheme called First Home Guarantee Scheme, how some professions have the LMI waived and what the guarantor scheme is.

What about your credit score? We bust myths around why you don’t need a credit card and how to make sure yours is up to scratch.

Grace also steps us through some topics you may of heard of but are not quite sure why they actually are! The different interest rates, offset accounts, building and pest checks, why you need a solicitor / conveyancer and what we should look for in a home.

Finally, Grace gives us some hot tips on how we can pay our home off quicker. These are so easy and make a big difference!

Ladies, if you’ve been thinking about property but have zero idea where to begin, this episode will be a game changer for you!

Resources mentioned:

First Home Guarantee

CONNECT WITH GRACE BOWE:

Website: https://www.coasthomeloans.com.au/about-us

Instagram: @coasthomeloans

Facebook: https://www.facebook.com/CoastHomeLoans/

 

CONNECT WITH LADIES FINANCE CLUB

Join our free facebook group - Ladies Finance Club Money Chat

Website: https://www.ladiesfinanceclub.com/

Instagram: https://www.instagram.com/ladiesfinanceclub/

LinkedIn: https://www.linkedin.com/company/ladies-finance-club/

Throw some coins in our tip jar: https://buymeacoffee.com/ladiesfc

See omnystudio.com/listener for privacy information.

Welcome to Investing Part 2 with Emma Kirk. If you didn’t get to listen to Part 1 yet, go check it out now to get the low down on the basics of investing.

In this episode, we run through the steps to placing your first trade and how you can match your values with your investing. Woohoo!

First up, we discuss the different share trading platforms and how they work. Emma explains what to look out for when you’re choosing your platform, including brokerage fees. We also touch on micro-investing and the benefits of these platforms if you’re just starting out. Don’t underestimate the power of investing small amounts regularly!

Next, you need to do your research as to what you want to invest in. Emma explains the options that are available including individual Australian shares, international shares and prepackaged options like Exchange Traded Funds (ETFs)  There are a range of options, it's just about finding out what's right for you.

Emma breaks down the actual steps you go through when buying a share. From choosing the share, what buying at limit or market means (and why it’s different for ETFs) to why the settlement has a funny reference next to it. Plus, why it’s super helpful for tax time to make sure you make a note somewhere of your original purchase price!

Finally, we discuss a topic I’m very passionate about which women are absolutely leading the charge on - ethical investing. Essentially this is investing to match your values. Emma explains the broader term behind this - ESG (environmental, social and governance). You can do your own research and choose companies based on what they stand for, or there are some really great pre-packaged ethical options with ETFs. By owning shares in companies that are doing the right thing, you can force change, which is so powerful.

Ladies, investing is not complicated. You’re going to feel so empowered and absolutely ready to buy your first shares after listening to this episode!

Resources mentioned:

Online brokers mentioned: Commsec / nabtrade / Self Wealth / Pearler / CMC Markets  /  Bell Direct  /  eToro  /  IG  /  Superhero  /  Stake  /  Open Markets  /  CommSec Pocket

Ladies Finance Club Investing Course

Market Index

 

Previous episode mentioned
Investing Part 1: Girls just wanna have funds with Emma Kirk

 

CONNECT WITH EMMA KIRK:

LinkedIn:    https://au.linkedin.com/in/emma-kirk-14810727

Twitter:        https://twitter.com/emmakirk_au?lang=en

Website:    https://www.magellangroup.com.au/

   

CONNECT WITH LADIES FINANCE CLUB

Join our free facebook group - Ladies Finance Club Money Chat

Website:    https://www.ladiesfinanceclub.com/

Instagram:    https://www.instagram.com/ladiesfinanceclub/

LinkedIn:    https://www.linkedin.com/company/ladies-finance-club/

Throw some coins in our tip jar: https://buymeacoffee.com/ladiesfc

See omnystudio.com/listener for privacy information.

Girls just wanna have funds, but when it comes to investing where do you even start?

 

I know the first time I went to start investing it felt like the one and only time I went to the free-weights section of the gym. It was very male, there wasn’t a lot of signage, I didn’t know if I was doing it right and the whole time I was thinking “where are all the women?”.

 

Don’t worry, investing no longer has to be like free weights. For this episode, I sit down with the divine Emma Kirk from Magellan Group. Emma’s superpower is breaking down the world of investing. Over the next two episodes, we run through the basics (Part 1) and the doing (Part 2).

 

Emma shares the key reason we should consider investing: it gives us control over our financial future and choice. Whatever our goals are, investing helps us get there a lot faster than savings alone.

 

Investing is being the owner of an asset. Emma explains the five asset classes and how these work as investments to provide income and capital gain. Considering the attributes of assets is also really important and Emma is onto it! She explains what attributes we should look for to make sure they are high-quality investments.

 

We also chat all things stock market! Emma explains the stock market in a way that will have ALL the lightbulbs in your head going off. If you’ve had trouble understanding the stock market before, you’re going to love how she explains it!

 

Emma also takes us what exchange-traded funds (ETFs) are and the two kinds - passive and active.

 

As Emma shares, investing is not complicated! She runs through the basic concepts of investing and the considerations you need to think about to make sure you’re kicking those financial goals.

 

We also run through compounding and dollar cost averaging, and how this is an absolutely incredible approach for long-term gains.

 

Now, there are lots of different pathways to invest, but you do need to consider the fees on each of them. Fees come in all different shapes and sizes and Emma explains the ins and outs.

 

Finally, Emma takes us through diversification. A robust portfolio that is diversified across different industries, different types of companies and even across different asset classes is key. Don’t have all your eggs in one basket!

 

Ladies, if you put the knowledge from this podcast into play it’s going to have a massive impact on your financial future! Share this with gal pals and remember that investing is for everyone!

 

Resources mentioned:

 

Online brokers: Commsec / nabtrade / Self Wealth / Pearler

 

Learn to Earn by Peter Lynch and John Rothchild

 

CONNECT WITH EMMA KIRK:

 

LinkedIn:    https://au.linkedin.com/in/emma-kirk-14810727

Twitter:        https://twitter.com/emmakirk_au?lang=en

Website:    https://www.magellangroup.com.au/

   

 

CONNECT WITH LADIES FINANCE CLUB

Join our free facebook group - Ladies Finance Club Money Chat

 

Website:    https://www.ladiesfinanceclub.com/

Instagram:    https://www.instagram.com/ladiesfinanceclub/

LinkedIn:    https://www.linkedin.com/company/ladies-finance-club/

Throw some coins in our tip jar: https://buymeacoffee.com/ladiesfc

See omnystudio.com/listener for privacy information.

Wanna get super savvy but have no idea where to start?

That’s why I’m excited to chat with one of my favourite women in superannuation. Her name is Gemma Mitchell and she is an absolute gun when it comes to this stuff. We talk about the small things you can do now, to ensure your super is looking as good as George Clooney does when you retire.

Ladies, get ready to take some notes because this one is a goody!

Gemma explains what superannuation is and explains how it’s different from an investment. Think of it as Future You’s wallet. She explains why it’s so hard to think about it and why it's SO important to think about it now, not when we retire.

Gemma talks us through how much super we should have, and how much we should be aiming to have when we retire. The ATO has a calculator you can check, but Gemma explains that this is a pretty conservative figure and isn’t tailored to your lifestyle. To make retirement planning less of a bore and much more relevant to your lifestyle the company Gemma works for (Super Fierce) has released a fun, interactive retirement planner called Blingo.

If you check out the Blingo calculator and your super isn’t where you want it to be, Gemma steps us through three easy ways you can have the biggest impact on your super balance. She also explains the different contributions including employer, concessional and non-concessional, spouse and super splitting. It’s important to get advice as there are lots of different ways you can do it, and the rules are always changing.

Gemma also talks us through a super exciting new incentive, that makes a huge difference if you’ve had time out of the workforce, or are self-employed, which is a huge win for women! 

Gemma also reminds us that it’s a good idea to look for any lost super, which could provide a boost to your super. Plus - why it’s so, so important to check your insurance before you consolidate your super. She explains the different kinds of insurance that come with our super balances including life insurance, terminal illness, income protection and total and permanent disability as well as some important considerations when looking at your insurance policies.

If you don’t choose the investment strategy for your super funds, you’ll be given the default. Gemma explains that you can change this according to how you want your money to be invested, from defensive (safer investments) through to growth (shares and property) and how you might want this to change across your lifetime.

Think of your super fund as your future holiday fund for when you retire. We need to take action! We want to live our best life when we retire and getting our super sorted means that we get to do that.

Resources mentioned:

 

Super Fierce - Blingo

 

Super Fierce - Tailored & free superannuation report

 

Moneysmart - How much super you need

 

ATO - Your Superannuation Basics

 

Super guarantee percentage

 

MyGov sign in (to access ATO portal)

 

Super Rewards

 

Book: Life is Tough, But So Are You

 

Previous episode mentioned:

 

Investing Part 1: Girls Just Wanna Have Funds

 

How To Become a Goal Getter with Briony Benjamin

CONNECT WITH GEMMA MITCHELL:

 

Instagram:    @gemmamitchell.finance

Email:        [email protected]

Website:    https://superfierce.com.au/

Instagram:    @besuperfierce

CONNECT WITH LADIES FINANCE CLUB

Join our free facebook group - Ladies Finance Club Money Chat

 

Website:    https://www.ladiesfinanceclub.com/

Instagram:    https://www.instagram.com/ladiesfinanceclub/

LinkedIn:    https://www.linkedin.com/company/ladies-finance-club/

Throw some coins in our tip jar: https://buymeacoffee.com/ladiesfc

See omnystudio.com/listener for privacy information.

On the episode today we are joined by Lisa Simpson, a financial counsellor who helps people to get out of debt. After working for over 13 years as a Financial Counsellor and Educator Lisa has developed a passion for Financial Coaching and Literacy and her broad knowledge base allows her to assist people from all walks of life, all ages and circumstances.

 

Lisa has a passion for teaching people what they don’t know about money. She shares with us the common ways that people are getting into debt. In her most recent role, she was looking at people’s bank statements every day and saw a huge number of Buy Now Pay Later entries on their bank statements. Overcommitting via Buy Now Pay Later is so easy, and Lisa shares the ways that these kinds of debts can easily get out of control.

 

Lisa also shares why Buy Now Pay Later aren’t regulated under the ASIC rules like other bank products and why this has created financial hardship for so many.

 

I know if these products were around when I was in my late teens and early twenties I definitely would have got myself into debt. Lisa provides guidance on what to do if you have a Buy Now Pay Later debt, with the first step being a budget, which she likes to term a personal money map. Essentially, this gets you from where you are now, to where you want to be. I love this way of looking at budgeting! Lisa teaches us about the snowball method of paying down debts.

 

Lisa also shares the downfalls of Buy Now Pay Later products, and why the ‘no interest’ term hides the other fees and charges that can apply.

 

Lisa explains why the four walls of your own home are the most important costs to consider first and why you should prioritise these four needs over wants.

 

If you’re in debt, there is help available. Lisa shares how Financial Counsellors can help. There is also significant help available from utility providers, banks and even grants, including payment plans, energy audits and moratoriums (essentially a payment holiday!).

 

Lisa also steps us through ways of approaching hard financial conversations with your partner. These can be hard, but Lisa’s tips will really help.

 

A common money problemo we often get asked about is - will a Buy Now Pay Later debt affect their credit rating? Lisa explains the difference between your credit report, credit rating and your credit score and what is and isn’t listed on these.

 

Ladies, if you’re in debt (no matter how much), help is available and is so much easier to access than you might have thought!

 

Resources mentioned:

 

Connect with a financial counsellor: 1800 007 007 (National Debt Helpline)

 

QLD: Home Energy Emergency Assistance Scheme (HEEAS)

 

VIC: Utility relief grant scheme (URGS)

 

NSW: Energy Accounts Payment Assistance (EAPA) vouchers

 

SA: Energy bill concessions

 

Debt Snowball Method - Scott Ramsay

 

Domino Your Debts - Scott Pape (Barefoot Investor)

 

Atomic Habits - James Clear

CONNECT WITH LISA SIMPSON

 

LinkedIn:    https://au.linkedin.com/in/lisa-simpson

Facebook:    https://www.facebook.com/uncommoncentsgoldcoast/

CONNECT WITH LADIES FINANCE CLUB

Join our free facebook group - Ladies Finance Club Money Chat

 

Website:    https://www.ladiesfinanceclub.com/

Instagram:    https://www.instagram.com/ladiesfinanceclub/

LinkedIn:    https://www.linkedin.com/company/ladies-finance-club/

Throw some coins in our tip jar: https://buymeacoffee.com/ladiesfc

See omnystudio.com/listener for privacy information.

For today’s episode, I am so excited to be joined by Kristen Hartnett from the Salvation Army’s Moneycare financial counselling program to talk all things debt (and how to get out of it!). Moneycare is a free, Australia-wide, professional and confidential service for anyone and everyone who finds themselves in financial hardship.

 

Kristen explains to us the most common forms of debt that people come to talk to them about, including credit cards, Buy Now Pay Later, personal loans, utilities, taxation, fines, child support or owing money to family and friends. There are so many ways to get into debt these days, the important thing is that you talk to someone about it and explore your options.

 

Ladies, if you’re in debt, there is so much you can do to get out of it. Kristen shares some incredible tips - there are so many more options than you might know.

 

In terms of budgeting, Kristen lets us know how to get started, recommends some really great resources, and shares that the best way to approach budgeting is to tackle one thing at a time.

 

Kirsten also breaks down Buy Now Pay Later debt, explaining that even though the product is sold as being ‘interest-free’, if you don’t pay the product back in time, then you start incurring fees and charges. These products can be pretty scary because they are easy to get into and are unregulated, which means there are no credit checks. Kristen also explains credit card debt and shares how this kind of debts can often snowball. As we say at LFC, when things get drastic, don’t stick it on the plastic!

 

Understanding your money story is another great tip from Kristen. She reminds us that the stories we often tell ourselves about how we are about money often aren’t true. If you’re feeling hopeless with money, you are likely overlooking all the ways you are great with it. Changing your story around money can be really powerful.

 

We also chat about how important it is to understand your debts and bills if you share them with your partner. 

 

Kristen reminds us that debts don’t go away, but just as they grow day by day you have the power to make them go away, day by day. She reminds us that there's always hope and light at the end of the tunnel and that your debts don’t have to define you. You can get out of debt, and there are people who can help!

Resources mentioned:

 

Money Care Financial Counseling Program

Website: https://www.salvationarmy.org.au/about-us/our-services/moneycare/

Phone: 1800 722 363

Email: [email protected]

 

Moneysmart

 

You're the Boss - book and course

 

Podcasts: Huberman Lab podcast  /  Criminal podcast

 

Books / authors: Fierce Self Compassion  /  Sally Hepworth

 

CONNECT WITH KRISTEN HARTNETT

 

Twitter    :    https://twitter.com/kristenhartnett?lang=en

LinkedIn:    https://au.linkedin.com/in/kristen-hartnett-18643598

CONNECT WITH LADIES FINANCE CLUB

Join our free facebook group - Ladies Finance Club Money Chat

 

Website:    https://www.ladiesfinanceclub.com/

Instagram:    https://www.instagram.com/ladiesfinanceclub/

LinkedIn:    https://www.linkedin.com/company/ladies-finance-club/

Throw some coins in our tip jar: https://buymeacoffee.com/ladiesfc

See omnystudio.com/listener for privacy information.

Welcome to our Girls Just Wanna Have Funds mini-episodes! 

 

Every week we chat to normal gals like you and me (who don’t work in finance) about how they invest their cashola.

 

Today, I’m chatting with the lovely Kenzia Dawn who is a freelance journalist at Channel 10 and producer at ausbiz TV. She’s rather new to investing and she shares her inspiring story of how she gained control over her money - all by herself!

 

Anyone can do it ladies! Financial freedom can be yours.

 

CONNECT WITH KENZIA

Instagram: https://www.instagram.com/kezia_dawn/

Website: https://keziadawnmedia.com/

CONNECT WITH LADIES FINANCE CLUB

Join our free facebook group - Ladies Finance Club Money Chat

Website: https://www.ladiesfinanceclub.com/

Instagram: https://www.instagram.com/ladiesfinanceclub/

LinkedIn: https://www.linkedin.com/company/ladies-finance-club/

Throw some coins in our tip jar: https://buymeacoffee.com/ladiesfc

See omnystudio.com/listener for privacy information.