The Broke Generation

It’s the penultimate guest episode of the year! This week I’m joined by Kate Campbell, financial educator, and co-host of the Australian Finance Podcast - and now author! We discussed the value of investing and how it connects with our life goals. Kate emphasised the importance of reframing your identity as an investor and starting small to build confidence. We also explored how personal values and experiences can shape financial decisions and the significance of questioning advice from others. Kate stressed that taking one step at a time, enhancing financial literacy, and asking better questions when working with financial professionals can lead to better financial well-being. With Kate’s book now out, we also unpacked the significance of prioritising relationships and allocating time and resources to nurture them. The balance between living in the present and securing a better future, with a focus on relationships and well-being as key aspects of a fulfilling life. Episode highlights: The challenge of dealing with pushback from friends and family who may have different values or life goals. Forgiving yourself for past financial decisions and understanding that those decisions were made based on the knowledge and experiences available at the time. The concept of taking ‘healthy risks’ in investing and starting small, learning as you go, and seeking support from resources like podcasts, courses, and online communities. “I honestly think that one of the most powerful things I did for my finances was forgive myself for everything that I did, quote unquote wrong or everything I didn't do because there's a unique type of shame that relates to things that we think we should have done or that we should have known better."Emma[16:29] “The answer lies within you, and I think this is why a lot of people, particularly with money stuff and particularly investing, you learn and you learn. And then there comes a point where you can’t learn any more. You’ve just got to make yourself do it."Emma [26:33] “There's not really a free lunch in investing. If someone's offering you something for free, really start to question it."Kate [39:45] “If we can focus a little bit more on the relationship piece and if we can allocate a bit more time and money to that side of things, then we're going to be happier longer term."Kate [50:52] Where to find Kate Campbell Website: https://buyinghappiness.com.au/Instagram: https://www.instagram.com/katecampbellausLinkedIn: https://www.linkedin.com/in/katecampbellonlineAustralian Finance Podcast: https://www.raskmedia.com.au/podcasts/australian-finance-podcast/ Where to find The Broke Generation Website: https://thebrokegeneration.com/?v=518f4a738816Instagram: https://instagram.com/the.brokegenerationTikTok: @the.brokegeneration  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 week I’m grooving into another solo episode, looking into eight low-effort ways to enhance your finances without much hassle. We all know life's a bit rough these days. Whether it's dealing with the cost of living or just bracing for the unexpected, it's been one heck of a rollercoaster. But guess what? We're in this together, and I've got some tricks up my sleeve to make it a bit easier. So, grab your coffee, give this episode a listen, and get ready to upgrade your financial game. I'd love to hear if you try any of these tips, and remember, it's all about making money work for you, not the other way around. Episode highlights: Work on identifying and updating your financial values to align your money with what matters to you, Focus on one high-impact financial improvement at a time, Prioritise action and make small changes to improve your financial situation. “Where a business would have like a marketing budget and an event budget… for the full year or per quarter, you can sort of do that yourself with your own finances by looking at those zoomed out numbers."Emma [15:15] “When you feel overwhelmed and you don't know what to do, what you should be doing, what's the most, what's the best thing to do? Just pick one thing and put your energy into that. Because doing one thing is always better than doing nothing."Emma [19:45] “What matters to you and how you can align money to improving your life, whatever that looks like for you, that sense of control is immediately flipped."Emma [21:36]   Where to find The Broke Generation Website: https://thebrokegeneration.com/?v=518f4a738816Instagram: https://instagram.com/the.brokegeneration|TikTok: @the.brokegeneration  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.

Lately, I've been going through it, just like many of you. 2023 has thrown everything at me, from life stuff to financial struggles. But guess what? I got sick of myself moping around and identifying with the struggle. I’ve found myself a mantra that feels like I’ve hit reset on my year - Enter the Milhouse Mindset!  Listen in to find out how Milhouse Van Houten is helping me to change my perspective and believe that things can work out. I'm inviting you to join me in the Milhouse Movement for the last three months of the year. Whether you've had an amazing 2023 or a tough one like me, embrace this mindset. It's all about looking on the bright side, taking opportunities, and believing that things are going your way. And you know what? It's empowering, it's exciting, and it might just change your life.  So, get your flood pants and join the movement, share your Milhouse moments with me over on Instagram, and let's make the most of the rest of 2023. Episode highlights: How I’m embracing my new positive approach for the last three months of the year, regardless of my experiences in 2023. Alongside my new mantra, I’ve been committing to regular self-care, looking after mental health and physical health “I got sick of myself identifying with this struggle because I had found this, I guess, comfort and identity there."Emma [08:38] “I have been finding myself... doing things that I have been too scared to do all year or too stuck to do."Emma [14:37] “So I'm in full Milhouse Mindset mode at the moment. October, November, we are showing up for ourselves. I am just being like, You know what? We're going to go for that. We're going to try and make stuff happen."Emma [15:09]   Where to find The Broke Generation Website: https://thebrokegeneration.com/?v=518f4a738816Instagram: https://instagram.com/the.brokegenerationTikTok: @the.brokegeneration  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.

Got a long walk or drive planned? Queue up this ep, because it’s a long one! Joined by Jess Brady, I delve into the world of personal finance, shedding light on the psychological aspects that often overshadow the numbers. Jess, is an expert in financial psychology and founder of Green House, a financial literacy program. We explore two distinct mindsets: financial stragglers and financial strivers. Financial stragglers tend to avoid accountability and justify their financial behaviour, while financial strivers embrace change, set meaningful goals aligned with their values, and learn from their mistakes. Jess emphasises the importance of deep self-reflection regarding one's relationship with money and suggests asking hard-hitting questions to uncover beliefs and behaviours. She challenges the normalisation of being "bad with money" in society and advocates for a more open and supportive financial community. Anyone can shift from being a struggler to a striver by embracing personal accountability, seeking support, and aligning their financial goals with their values for a future filled with financial freedom and flourishing. Episode highlights: The importance of thinking about money in the context of one's entire life rather than just day-to-day finances. The cost of accessing traditional financial advice has been on the rise, making it less accessible to many people. Understanding one's core values and aligning financial goals with those values, without this alignment, financial strategies are less likely to be effective. Mindset, personal accountability, and the willingness to learn and make changes, when it comes to finances. “I love Conscious cash flows. I don't like the word budget. It feels like dieting, very restrictive, very boring. It doesn't work for me and it certainly doesn't work for many of the people that I've worked with in the past."Jess [12:15] “Most people have never learned formally anything about money. You know, it's really been left to the people around us to role model. Some did it exceptionally well, some didn't do it very well. And we can learn from their mistakes, but they role model it in an environment that is exceptionally different to where we're at today."Jess [17:13] “People are very passive, and we let that sort of autopilot, as I call it, kind of run the show when we're not really making decisions in any part. We're not really balancing the now and the future."Emma [20:32] “I think in any area of our life, if it's important to you and if it's worth whatever's on the other side, to be passive is kind of selling yourself short."Jess [21:45] Where to find Jess BradyWebsite: https://jessicabrady.com.au/Instagram: https://www.instagram.com/jessbrady_financialadvice/LinkedIn: https://www.linkedin.com/in/jessica-brady-21165812/Join the waitlist for The Greenhouse Money Program, running in January 2024!   Where to find The Broke Generation Website: https://thebrokegeneration.com/?v=518f4a738816Instagram: https://instagram.com/the.brokegenerationTikTok: @the.brokegeneration  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.

Last week’s episode was all about breaking free from the spending hamster wheel and highlighted the importance of recognising the underlying emotional needs that drive our spending behaviours. Today, I'm delving deeper into this topic by exploring some common money beliefs that might be holding you back. These beliefs often linger in the background, quietly influencing our financial decisions, without us ever really noticing. Let's dive right in! First up, the belief that "money will always be there." It's like a safety net, right? But sometimes, it can lead us down a path of reckless spending. We'll explore how to regain control over this belief and your finances. Next, we've got the classic belief that "money is always hard." Who hasn't felt that way at some point? But I'll show you how to change your response to unexpected expenses and build a more positive outlook. And finally, we've got the belief that "I deserve to spend my money." We all do, but when it turns into impulsive spending, it can be a problem. I'll help you find alternative ways to treat yourself without emptying your wallet. Episode highlights: Learn how to understand the link between your beliefs and behaviours when it comes to money and spending. Overcome financial challenges and reduce shame associated with your money choices. How to work on your money beliefs is an ongoing process, not a one-time fix. It's a tool to help navigate money throughout your lifetime.   “I want to help you start to understand the link between beliefs and behaviours. Because when we start to understand what is driving our behaviour, that's when we can really start to neutralise those beliefs eventually and make them more positive and then experience the outcome, the behavioural outcome as a result."Emma [04:59] “Most [financial] experiences have a practical element of what is literally happening and then an emotional meaning that's put on to that or an emotional way."Emma [09:07] "Sometimes what you deserve is to keep that money for another time when money can really be used as a resource to help you live your life, to help you experience life in a better way rather than in that immediate moment."Emma [30:10] "It's a really powerful pocket of personal finance because so often we focus solely on the behaviour and that can kind of keep us focused on trying to change something that is kind of like broken from within."Emma [30:46] Where to find The Broke Generation Website: https://thebrokegeneration.com/?v=518f4a738816Instagram: https://instagram.com/the.brokegenerationTikTok: @the.brokegeneration  Interested in joining the next Midseason Wardrobe Pause? Sign up here: thebrokegeneration.com/the-midseason-wardrobe-pause 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.

Have you found yourself in a spending hamster wheel? Stuck in a cycle that seems impossible to break, with an urge to spend money, even when it doesn't align with your goals? This solo episode I’m breaking down the cycle, showing you how to identify what motivates your spending, and understand the emotional needs behind the spending. I’m sharing my own experiences of being stuck in this cycle and feeling like my financial outcomes were out of my control. I've learned to step off that hamster wheel and take control of my financial behaviour. This process involves identifying the motivator behind my spending, understanding the needs I’m trying to meet, and redirecting my behaviour in healthier ways. Rather than just focusing on cutting spending, it's essential to treat the underlying causes of your financial behaviour. By breaking the cycle and reprogramming your responses, you can achieve better financial outcomes and build self-trust. It's not about avoiding spending altogether but making conscious and empowered financial decisions.  Episode highlights: Understanding the spending hamster wheel, and the steps you can take to break it Uncover the underlying emotional needs driving your spending behaviour. How to redirect your energy and behaviour toward more productive alternatives. Building self-trust by consciously practising new spending behaviours and making mindful choices. I want you to think about the need that you try and meet when you spend money. Is it an emotion that you are trying to soothe? Is it a feeling you're trying to obtain? Is it about control?Emma [16:52] If you could buy who you wish you were, if you could buy your way out of low self esteem, then we wouldn't be here working through this.Emma [26:57] You can have peace from your spending decisions. You can feel truly in control, not just a perceived sense of control.Emma [32:23] Learning how to spend money is not something that we're taught, and it's not something that's covered often in personal finances until you meet me.Emma [35:17]   Where to find The Broke Generation Website: https://thebrokegeneration.com/?v=518f4a738816 Instagram: https://instagram.com/the.brokegeneration TikTok: @the.brokegeneration  Interested in joining the next Midseason Wardrobe Pause? Sign up here: thebrokegeneration.com/the-midseason-wardrobe-pause  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.

In this episode I’m joined by Trenna Probert, as we tackle the big area of finance a lot of us don’t want to think about - retirement. Trenna is the co-founder of Super Fierce, a platform dedicated to helping people retire with financial security. Trenna is a passionate advocate for financial security, especially for women and minorities. Our discussion revolved around redefining retirement as a positive and integral part of life, challenging the negative narratives surrounding it. Trenna emphasises the importance of choice in retirement planning, sharing her personal journey of financial challenges and rebuilding. The gender gap in retirement savings was another important topic we explored, dispelling the myth that women are worth less economically. Trina stressed the need for women to prioritise simple steps to improve their financial well-being. Throughout the episode, we worked to reframe retirement as a positive and achievable goal, highlighting the need to embrace life's unpredictability and learn from our past financial experiences. It’s important to realise that none of us have it all figured out, but with the right mindset and support, we can navigate life's financial challenges and secure a brighter future. Episode highlights: Reframing retirement as a natural and exciting part of life, with everyone deserves a fulfilling future. Exploring the concept of "failed to fierce," where stumbling or failing is part of life, but it's how we respond and innovate that matters. Trenna shares the power of taking small steps today, and how even minor changes can significantly impact future financial well-being. The gender wealth gap and the need for equity in retirement planning. Check in on your private health cover - if you have it! Think about what could happen in your life, at different stages, that you would need covered. "This is my life. I'm going to lean into my life. There are always going to be things that you cannot plan for. The only thing that you can control is the way that you respond to it."Trenna [31:22] "It's not about the failure. It's not about the stumble. It's what you do in the moment that matters."Trenna [33:33] “Looking back is actually really important when it comes to looking forward”Emma [50:50] Where to find Trenna Website: https://superfierce.com.au/ Trenna’s Instagram: https://www.instagram.com/trennaprobert_/  Trenna’s LinkedIn: https://www.linkedin.com/in/trennaprobert/  Super Fierce Instagram: https://www.instagram.com/besuperfierce/ Podcast episode featuring Trenna: Female Founders: Trenna Probert: From concierge to fintech start-up founder Where to find The Broke Generation Website: https://thebrokegeneration.com/?v=518f4a738816 Instagram: https://instagram.com/the.brokegeneration TikTok: @the.brokegeneration  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.

You have successfully launched your side hustle. Congratulations! However, you might be wondering how to sustain and expand it further. Join your host, Emma Edwards, in the last episode of her side hustle school mini-series as she shares key things you can do with the side hustle you have created to ensure its longevity, or know when it's time to call time. Episode Highlights: [00:01] Episode intro and what’s in for you today [02:49] What to do with the side hustle you have created [02:51] Doing a SWOTLH analysis [06:23] Come back to your personal why [09:07] Set growth goals [11:56] Be aware of burnout [13:00] Be aware of side hustle spending  [15:37] Taking your side hustle full-time [17:22] Align your mindset [20:02] A quick recap of ways to create longevity in your side hustle [23:02] Call to action and ending the show Standout Quotes:  “Your side hustle needs growth goals. But most importantly, think about how growth looks like, and how it resonates with why you started the hustle in the first place.” - Emma [09:10] “When we start new projects such as our side hustles, we are always motivated and willing to work in jeopardy of our self-care. We should be aware of that because it can be a highway to burnout.” - Emma [12:43] “A renewed mindset is necessary if your side hustle will have longevity. It is almost harder to take a side hustle full-time than to do your business full-time.” - Emma [17:22] Stay Connected Emma Edwards Website: https://thebrokegeneration.com/?v=518f4a738816 Instagram: https://instagram.com/the.brokegenerationSee omnystudio.com/listener for privacy information.

Managing time and money effectively in your side hustle is essential for its success and personal fulfilment. Time management involves setting clear priorities, creating a structured schedule, and minimising distractions. By planning and allocating specific time blocks for your side hustle, you can ensure consistent progress without sacrificing your primary responsibilities. On the financial front, budgeting and tracking expenses are crucial. Keep a close eye on your earnings and expenses, reinvesting profits wisely to fuel growth. Striking a balance between time and money management enables you to navigate the challenges of your side hustle while achieving both personal and financial goals. Join your host, Emma Edwards, in episode four of the Side Hustle school mini-series as she shares more about managing time and money in your side hustle. Time is money, and we need to be very strategic to maximise our time and money in our side hustle to ensure we are getting a return on the work we put in.  Episode Highlights: [00:01] Episode intro and what’s in for you today [01:31] How to be strategic with your time upfront in your side hustle  [02:44] Treating yourself like a resource and booking yourself out for your side hustle [11:13] Ensuring the extra money you earned from side hustles is not leaking out [13:47] How keeping your side hustle income separate can be a game changer  [15:29] How the money from your side hustle is taxed and treated  [20:31] Setting aside your tax first in a separate savings environment [21:04] How to manage your side hustle expenses and maximise your returns  [25:11] A quick recap on what you need to manage time and money in your side hustle [27:02] Wrap up and end the show   Standout Quotes:  “Time management and prioritisation is important in determining not only the success of your side hustle but also your happiness, fulfilment and achievement of your Why.” - Emma [02:13] “The outcome might be the same, but the intention you are going in with can determine how you feel about it and therefore the longevity of the outcome ” - Emma [10:19] “Unless we change our money beliefs and our thought patterns around Money, More Money won't always help.” - Emma [13:33] “Keep your income and your expenses for your side hustle separate; this not only gives you clarity and makes things so much easier when it comes to paying taxes and understanding how much money you have made, but it also helps you see the extra money you got and be intentional with it.” - Emma [14:09] “Having your expenses organised in a side hustle is an important part of your success, but it is a big mindset to undergo, especially if you have been an employee or you are currently an employee.” - Emma [22:17] Stay Connected Emma Edwards Website: https://thebrokegeneration.com/?v=518f4a738816 Instagram: https://instagram.com/the.brokegenerationSee omnystudio.com/listener for privacy information.

Marketing yourself and attracting clients and customers is essential for the success of your side hustle. To effectively promote your side hustle, you need to leverage the lowest-hanging fruits by distilling your marketing to the essential need-to-dos to get the most opportunities. Marketing your side hustle ensures that your client can find you, give you money when they want to give it to you, and tell their friends about your product. With so much competition, so many ads, and so much information available, you want to ensure your side hustle is visible and with repeat visibility in order to penetrate your target customer's decision-making. Consistent, diligent efforts in marketing yourself and consistently delivering value to your clients and customers will be your pathway to long-term success in your side hustle. Join your host, Emma Edwards, in episode three of the Side Hustle school mini-series as she shares strategies for marketing yourself and finding all those important paying clients and customers. We all want people to pay us for our products or services. Tune in and learn how to market yourself, make people aware of what you do, convince them to choose you, and hand over their money for your offer. Episode Highlights: [00:01] Episode intro and what’s in for you today [02:10] What marketing our side hustle is all about    [02:55] How to build your side hustle marketing funnel  [05:07] Marketing strategies for the early stages of your side hustle [08:13] How to find and connect with your ideal clients through marketing [10:41] Optimizing your customers' pre and post-purchase experience  [14:31] Distilling your marketing to the essential to-dos to get the most opportunities  [17:46] Making your side hustle visible with repeated action to build traction [21:07] Wrap up and ending the show Standout Quotes:  “Marketing is all about putting your product or service in front of your ideal customer or client, and building your relationship so that they know who you are and understand what you do.” - Emma [02:10] “When it comes to marketing your side hustle, visualizing it using marketing to move customers through the different phases can help you understand how to put yourself out there and what kind of messaging you can use to attract customers.” - Emma [03:35] “The early stages of marketing your side hustle can feel a bit scrappy because they are about gaining visibility and building traction: it’s getting yourself in front of your potential market, expressing your skills, services, and product, and capitalizing on opportunities to relate to them.” - Emma [05:10] “Distilling down your marketing into the essential to-dos and the lowest hanging fruit for your side hustles to get the most opportunities is about making sure clients and customers can give you their money when they want to give it to you, tell their friends about you and you are good at what you do.” - Emma [15:03] “You cannot be in the right place at the right time if you don't go anywhere; a lot of work and customers that you will attract will not be traceable as we often think; you need to show up over and over and show people what you do repeatedly before you push them through your funnel.” - Emma [16:46] Stay Connected Emma Edwards Website: https://thebrokegeneration.com/?v=518f4a738816 Instagram: https://instagram.com/the.brokegenerationSee omnystudio.com/listener for privacy information.