Overcoming money barriers: How to take control of your finances

If financial freedom feels like a pipe dream, this week’s guest is here to set you on the right track. Financial expert and author of Financially Fit Women, Amanda Thompson, joins us on the Flying Solo podcast to reveal the biggest hurdles to reaching financial wellbeing, and how to overcome them.

Amanda shares invaluable tips and advice, from retirement planning and understanding superannuation, to investment opportunities and building better cash flow in your business.

Tune in to find out how to become confident with your financial decisions and learn the money saving hacks that will allow you to have the money you need to live the life you want.

Topics covered in this podcast episode

In this episode, Amanda unpacks:

1. Simple steps to rewriting your own money story

• Knowledge-gathering is the key to getting started
• Taking small steps to build financial confidence
• Action plan for debt, investment, superannuation, cash flow and estate planning
• Aligning financial life with personal values for success

2. Key factors holding you back from financial literacy

• Understanding your money and personal motivations for business or financial success
• Taking a reality check on debt and credit
• Financial crisis hotlines and government-funded financial counselling services
• Impact of 'buy now pay later' schemes on lending capability

3. Practical budgeting tips

• Understanding superannuation and investments
• Gaining access to finance in business
• Online tools to help with financial planning
• Empowering women’s confidence in financial decision-making

Episode timestamps

• [01:54] The importance of financial empowerment for women
• [05:32] Understanding your cash flow to strengthen your budget
• [08:36] Hurdles to women accessing business finance and how to overcome them
• [10:55] Building financial confidence in investment decisions
• [13:10] Why retirement planning from a young age matters + online tools to help
• [15:44] Understanding the debt trap – credit cards, payday loans + buy-now-pay-later schemes
• [18:20] Aligning financial goals to personal values = the key to success
• [21:36] Empowering women’s financial literacy – where to begin
• [25:03] How auditing your superannuation fund leads to financial confidence

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