Ladies Finance Club - Get Rich

Welcome back, ladies! I’m so excited for our new season. We're going to be diving into truly inspiring stories of how real women built real wealth from scratch. Here at Ladies Finance Club, our mission is simple - to help make women rich. We believe if you have control over your money, then you have control over your life.  Taking charge of your finance doesn't have to be complicated or boring. We know you can do this, but perhaps you just need a little guidance to get you started or to learn from experts to grow your wealth and that’s where we come in.  Join in and become part of our thriving LFC community where women are celebrating their money wins every single day from paying off debt to buying investment properties. 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/ladiesfcSee omnystudio.com/listener for privacy information.

Are you ready to budget like a boss? In this episode, we sit down with money coach Lexi Smith to chat about the B-word budgeting, breaking it all down so you can get control over your finances!   Lexi takes it back to basics for us. Budgeting is working out where we stand and what we want to achieve and coming up with a plan to get there. She explains that budgeting does not have to be hard - the hardest part is often starting.   First of all, work out the categories for your budget.  Lexi gives us the most common categories, so grab a pen and note them down!  She also helps us work out what to do about those often-forgotten categories like Christmas and holiday spending. Lexi also has a really nifty trick which will help you save time and make sure your budget is accurate - bank statements (and how to download them!).   Most importantly, there is no one size fits all budget - it’s about working through the different methods of budgeting so that you can find the one that works for you. One method that might work for you (and used by Lexi’s clients!) is the Traffic Light Activity. This helps you work out your needs and wants and put a stop to unwanted spending habits! Lexi also breaks down the 50-30-20 and zero-based budgeting methods, as well as how mindful and intentional spending can help you move closer to your goals!   Finally, Lexi takes us through the mistakes she sees people making with both their budgeting (and spending!) and the differences between a money coach and a financial planner.   Get your pen and paper ready ladies because this one’s a goodie!   Resources mentioned:   The Bucket Method by Barefoot Investor by Scott Pape   90 days - Rachel Cruze   Apps: WeMoney / Frollo    Clutterbug   CONNECT WITH LEXI SMITH   Website:  https://moneyvine.com.au/ Instagram: @moneyvine.au Facebook group: https://www.facebook.com/groups/savvysisterssociety 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/ladiesfcSee omnystudio.com/listener for privacy information.

Today I have Tessa Kelman on the show to discuss everything you should know and talk about before you tie or untie the knot. Tessa is a family lawyer based in Sydney for Lander and Rogers law firm and is an absolute wealth of knowledge on marriage, defacto and separation law.  Tessa is here to share with us some of the common mistakes she sees women making when preparing for a marriage, defacto relationship, divorce or separation and fill us in on everything we should be doing instead to protect our financials, property, children, and approach big decisions with preparation and confidence.  The biggest mistake Tessa sees every day is couples not having a discussion before getting married or committing to someone on a defacto basis about what your goals are for the future, any assets coming into the relationship, plans for the assets in the future, whether you’re aligned in terms of how you want to spend or save money, and what would happen if you decide to have children (in terms of who would stay at home/daycare), and, if you ever decide to separate.  We all come from different financial backgrounds and I know these conversations can be very awkward and clunky to bring up but they are so important to set yourself up with financial confidence and know that if anything goes wrong, you’re always covered.  Tessa explores how the family court works, contracts including parenting arrangements and binding financial agreements, keeping on top of all of your documentation, record keeping, and reminds us that, in Australia, a separation settlement is definitely not always 50/50.  Tune in and write down all of Tessa’s advice and wisdom to keep yourself protected before getting married/defacto or separated/divorced and breathe a big sigh of relief knowing your future is covered.    CONNECT WITH TESSA KELMAN Website:  https://landers.com.au/ LinkedIn:  https://www.linkedin.com/company/lander-&-rogers/ 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/ladiesfcSee omnystudio.com/listener for privacy information.

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/ladiesfcSee 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/ladiesfcSee 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/ladiesfcSee 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/ladiesfcSee 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 mentionedInvesting 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/ladiesfcSee 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/ladiesfcSee 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:        gemma@superfierce.com.au 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/ladiesfcSee omnystudio.com/listener for privacy information.