The Broke Generation

Putting money into savings and then pulling it right back out again is a common financial glitch we experience. We are not all born financially savvy or natural savers. We are not naturally inclined towards delayed gratification and saving. However, pulling money out of our savings for whatever reason is one of those things that hold us back, but when we work on stopping this behaviour from happening in the long run, it can propel us much faster toward our goals. Pulling money out of our savings is not caused by the same circumstance or mechanism, and it is worth paying attention to what is happening at different points in your finances to cultivate your financial confidence and autonomy over your money. In this episode, your host, Emma, shares more about savings and how to stop pulling money out of your savings. It's a common misconception that the main cause of our savings failures is pulling money out of our savings. In reality, the problem lies in our initial approach to saving, where we tend to put away excessive amounts. We end up over-saving and attempting to do more than we can. Listen in and get the tools to help you shift your perspective and approach to what fits your finances. Tune in! Episode Highlights: [00:01] Episode intro and what’s in for you today [05:42] Slowing down and recognizing situations in which you are pulling savings  [09:09] The difference between reactive and responsive financial behavior  [10:51] Emotional problems and how we pull savings to fuel emotional behaviors  [13:06] The PMG framework to help you work on emotional spending [23:50] Mathematical problems in calculating saving and the best antidote  [27:21] Organisational issues and how to plan in a way that looks ahead for banana skins [29:27] The focus problem and how it comes up in our financial management  [33:50] Motivation, goal simulation, and understanding how your brain responds to reward [38:51] Prioritisation problem and spending on your highest values to get the most value  [42:31] Wrap up and end of the show Standout Quotes: “When we put money into savings and pull it back out again, we are kicking ourselves and our financial mindsets in a financial gap and hurting ourselves.”- Emma [07:43] “If you try to do the right thing too hard, if you try to budget too hard or attempt achieve more than it's realistically possible, you are setting yourself out for failure."- Emma [08:19] “When you are pulling money out of your savings emotionally, you are taking money from the future you to change your emotional state in the present; you are choosing now over later but the antidote is making tomorrow more attractive than today.” - Emma [23:20] “Looking ahead for banana skins is one of those big hard hitters that is going to drastically change the sense of control that you feel you have over your finances and give you much more autonomy on where your money goes because you have that confidence that you have looked ahead and you are aware of what is coming up. ”- Emma [29:09] “Understanding how to balance your scales out and prioritise your way to financial confidence is valuable.”- Emma [41:15] Resources Mentioned Free Financial Values Workbook: https://www.thebrokegeneration.com/subscribeSee omnystudio.com/listener for privacy information.

Take a deep breath in… and out… ok now you’re ready for this week's comments section! We’re diving into the real deal of self-care beyond the pretty pictures on social media. We’re talking about how we really make self-care work in our daily lives - from nifty apps that keep us zen to those little life hacks. But hang on, we’re also getting real about how self-care’s become a bit of a shopping spree. Are we actually nurturing ourselves or just splashing cash to feel good? We’re peeling back the layers on what self-care means and spotting the difference between quick fixes and the real thing that gives us a deeper kind of chill. And, because we love getting into the nitty-gritty, we’re asking the tough questions about why we resort to these self-care 'buys'. Is it genuinely soothing us or just patching up bigger issues? From psychological insights on why we shop when we're down, to simple truths like, maybe we need to treat ourselves like a toddler to figure out what we really need, this episode is your call to rethink self-care. Don’t forget, we want to hear from you too! Drop into our socials and share how you’re keeping it real with self-care. Where to find Emma Website: https://thebrokegeneration.com/?v=518f4a738816 Instagram: https://instagram.com/the.brokegeneration TikTok: @the.brokegeneration  Order my book, Good with Money! Sign up to The Glue: the weekly money psychology and mindset newsletter www.thebrokegeneration.com/subscribe, where you’ll also get your free Financial Values workbook. Where to find Victoria Instagram: https://www.instagram.com/bad.bitch.money/?hl=en Newsletter: https://substack.com/@victoriashakeshaftSee omnystudio.com/listener for privacy information.

"Spending money is a shortcut to most of the feelings we crave in our lives." In this episode I'm taking you through 7 pesky little happenings that make you want to spend money, and how to break the habit of giving in and emptying your bank account in the process. From having a bad body image day to getting good news, there's always something waiting to send us into a spending frenzy. But the good news is, you can learn to master it.  I share a smorgasbord of alternative behaviours and mindset shifts to help you tackle the spending monster head on, and feel more in control of your money and your financial wellbeing.  Mentioned in this episode: Join the waitlist for the new and improved Wardrobe Pause Challenge: https://mailchi.mp/a5bafd003bec/wardrobe-pause-challenge-waitlist Where to find The Broke Generation Website: https://thebrokegeneration.com/?v=518f4a738816 Instagram: https://instagram.com/the.brokegeneration TikTok: @the.brokegeneration  Order my book, Good with Money! Sign up to The Glue: the weekly money psychology and mindset newsletter www.thebrokegeneration.com/subscribe, where you’ll also get your free Financial Values workbook.See omnystudio.com/listener for privacy information.

SWOT’s going on everyone? This week, we're diving into the grit of what it's like to hit the books as mature age students and unpacking the whole "cost" of it. We're chatting about the pressure cooker of societal and cultural expectations, questioning why there's this idea that you have to jump straight from high school into higher education. Remember: it's totally cool to take your time and dive into studying when it feels right for you. So, if you're contemplating hitting the books as a mature age student, stick around as we dish out some real talk about why it's not just okay, but actually pretty awesome to take that leap of faith into the world of learning, no matter when you decide to do it. Have your own experiences you want to share with us? Check out our socials and join the discussion! Where to find Emma Website: https://thebrokegeneration.com/?v=518f4a738816 Instagram: https://instagram.com/the.brokegeneration TikTok: @the.brokegeneration  Order my book, Good with Money! Sign up to The Glue: the weekly money psychology and mindset newsletter www.thebrokegeneration.com/subscribe, where you’ll also get your free Financial Values workbook. Where to find Victoria Instagram: https://www.instagram.com/bad.bitch.money/?hl=en Newsletter: https://substack.com/@victoriashakeshaftSee omnystudio.com/listener for privacy information.

It's me and the mic again my friends for another solo episode, and this week we're talking all about finding your financial chill girl. Let's face it: stressing about money SUCKS A$$ – and because our brains are such drama queens, often we stress more than we actually need to. Enter: the financial chill girl. In this episode I'm teaching you the principles of mental and financial resilience to help you build a sense of chill around your money and approach money management from a resilience-first perspective.  Highlights: The antics our brains pull when experiencing financial adversity The three P's of learned optimism  How to intercept negative thoughts during financial adversity so you can get on with dealing with the issue objectively The components of financial resilience and why personalising your approach is critical Why managing your everyday money habits makes it infinitely easier to handle financial adversity + juice up your financial resilience Mentioned in this episode: GET THE PIPING HOT GOALS POWER PACK and set the best, hottest money goals of your entire life: https://thebrokegeneration.com/product/piping-hot-goals/ Get your copy of Good With Money: https://amzn.to/3TFms2p See omnystudio.com/listener for privacy information.

We’re diving back into the comments section, this time we spill the beans on the pricey pitfalls of convenience, from occasional valet parking to a regular house cleaner. Join us as we swap stories and bounce ideas off each other about when to indulge in life's little luxuries and when to hold back. It's all about finding that sweet spot where convenience fits into our lives without breaking the bank or compromising our values.Grab a cuppa and tune in as we dish out plenty of food for thought on incorporating convenience into your life while staying true to your values and financial goals. Lots of love, Fruit & Nut (AKA Emma and Victoria) x Where to find Emma Website: https://thebrokegeneration.com/?v=518f4a738816 Instagram: https://instagram.com/the.brokegeneration TikTok: @the.brokegeneration  Order my book, Good with Money! Sign up to The Glue: the weekly money psychology and mindset newsletter www.thebrokegeneration.com/subscribe, where you’ll also get your free Financial Values workbook. Where to find Victoria Instagram: https://www.instagram.com/bad.bitch.money/?hl=en Newsletter: https://substack.com/@victoriashakeshaftSee omnystudio.com/listener for privacy information.

In this episode, I'm sharing insights into my approach to managing my finances - what I like to call being a "hot b*tch" with money. I break down six key steps to master this mindset with confidence, and a touch of sass. On the fun side, it’s things like crafting a budget that fits your life, not the other way around. On the other hand, it’s tricker things like critically reviewing your spending habits that eventually help you to be more in control and aware of your financial standing. Working these tips into your finances can help you step away from autopilot and into financial empowerment and confidence.  Here's to embracing our inner "hot b*tch" and conquering our financial goals in 2024 and beyond! Episode highlights: Moving away from autopilot financial habits towards empowerment and self-assurance. Emphasising the value of knowing your financial status at all times to make informed decisions and avoid unnecessary stress or guilt. The importance of having financial goals and working towards them, whether big or small, as a key aspect of financial empowerment. “A hot b*tch does what she says she's going to do... By setting and keeping promises to yourself and actually following through on them, that is where we become a hot b*tch with money."Emma [03:49] “Having a payday routine is the perfect way to do the things that you say you're going to do."Emma [05:59] “Treat every aspect of your finances as data... Seeing everything as data neutralises it. It doesn't make it about you and it helps you move forward."Emma [23:43] Where to find The Broke Generation Website: https://thebrokegeneration.com/?v=518f4a738816 Instagram: https://instagram.com/the.brokegeneration TikTok: @the.brokegeneration    Order my book, Good with Money!   Sign up to The Glue: the weekly money psychology and mindset newsletter www.thebrokegeneration.com/subscribe, where you’ll also get your free Financial Values workbook.See omnystudio.com/listener for privacy information.

This episode was recorded on the lands of the Boonwurrung People of the Kulin Nation. This land was never ceded, it always was and always will be Aboriginal Land.  The Comment Section is back for another juicy ep! This week we’re talking luxury money sh*t, and the link between consumerism and self-perception. With Soho House's expansion into Sydney, we dissected the allure and exclusivity surrounding the global members' club, and its lavish amenities and strict membership criteria.  We also compared our experience in purchasing a designer bag and explored the complex dynamics of prestige and personal expression tied to these luxury items. Beyond bags, we look at the broader questions surrounding luxury purchases, and their true value, both monetarily and emotionally. Join us as we unravel the complexities of luxury living, membership culture, and the quest for belonging in an ever-evolving society. Emma and Victoria x Where to find Emma Website: https://thebrokegeneration.com/?v=518f4a738816 Instagram: https://instagram.com/the.brokegeneration TikTok: @the.brokegeneration  Order my book, Good with Money! Sign up to The Glue: the weekly money psychology and mindset newsletter www.thebrokegeneration.com/subscribe, where you’ll also get your free Financial Values workbook. Where to find Victoria Instagram: https://www.instagram.com/bad.bitch.money/?hl=en Newsletter: https://substack.com/@victoriashakeshaftSee omnystudio.com/listener for privacy information.

Buying clothes again after a full year of not buying ANY... what's that like?! Well gang, I'm taking you inside my brain. Being back in the big wide world outside of my challenge bubble (I didn't buy any clothes in 2023) has been humbling. While I learned so much last year and completely fell in love with my existing wardrobe, having the option of buying again has been more difficult to navigate than I expected. In this episode, I take you through how I'm approaching solidifying my new approach to my wardrobe in the real world, the mistakes I've made now I'm buying again, and the challenges I've faced in trying to decide how to buy going forward. I also dive into the decision fatigue that comes with deciding whether something is worth buying, and discuss how I plan to achieve the sense of peace I experienced during the year-long challenge, but without never buying.  I hope you enjoy this chatty episode, thanks so much for listening.  Where to find The Broke Generation Website: https://thebrokegeneration.com/?v=518f4a738816 Instagram: https://instagram.com/the.brokegeneration TikTok: @the.brokegeneration  Get your copy of Good with Money! Out February 27th 2024 Sign up to The Glue: the weekly money psychology and mindset newsletter www.thebrokegeneration.com/subscribe, where you’ll also get your free Financial Values workbook.See omnystudio.com/listener for privacy information.

This episode was recorded on the lands of the Boonwurrung People of the Kulin Nation. This land was never ceded, it always was and always will be Aboriginal Land.  Welcome to The Comments Section: money sh*t chat with your hosts, Emma Edwards and Victoria Shakeshaft. In this 10 week special series from The Broke Generation, we'll be in your ears every Tuesday with chaotic conversations about money, life, and trying to exist as a grown-up, in a manner so unhinged it almost resembles the comments section of any piece of content you see these days.  This week we're moderately composed as we debrief the morning after my book launch party, and lift the veil on the reality behind events that look far glossier online than they actually are. You'll also get to know your cohost, Victoria aka @bad.bitch.money, and hopefully enjoy a giggle or two along with us.  Thank you so much for tuning in, bearing with us while we find our groove, and embracing the chaos. Emma and Victoria x Where to find Emma Website: https://thebrokegeneration.com/?v=518f4a738816 Instagram: https://instagram.com/the.brokegeneration TikTok: @the.brokegeneration  Order my book, Good with Money! Sign up to The Glue: the weekly money psychology and mindset newsletter www.thebrokegeneration.com/subscribe, where you’ll also get your free Financial Values workbook. Where to find Victoria Instagram: https://www.instagram.com/bad.bitch.money/?hl=en Newsletter: https://substack.com/@victoriashakeshaft?utm_source=profile-page  See omnystudio.com/listener for privacy information.