Rebecca Pritchard posted an update in the group Money And Business 6 years, 7 months ago
WHEN LOVE DIES, YOUR FINANCES DON’T HAVE TO
Break-ups suck. There’s no two ways around that. Even if we know they’re for the best, at the time, there’s a lot of pain and uncertainty to wade through.
Financially, where do we stand? And how can we look after ourselves when faced with the fact that approximately 1 in 3 marriages end in divorce…[Read more]
Rebecca Pritchard posted an update in the group Money And Business 6 years, 7 months ago
KEEPING YOUR EYE ON THE PRIZE
How do we know if we’re making progress? If we’re doing what we need to, to reach our goals? If we’ve fallen off the wagon?
Do we know that intrinsically?
For most of us, probably not.
So what do we do?
Today let’s talk about the importance of tracking when looking after our financial wellbeing.
Budge…[Read more]
Hi Rebecca, thanks for the useful tips. I have budget goals for each fortnight, but I’ve never thought about reflecting back on how I went. I think sometimes I’m too scared to look back and realise I wasn’t as strict with my budgeting as I planned to be! I was using a ‘Daily Budget’ app for a while which helped. It’s hard to stay consistent – what…[Read more]
Thanks Hannah. Knowledge is power! It’s definitely like checking back in on the scales and tape measure (or looking in the mirror) after you’ve been busting your chops at the gym for a couple of months 🙂 You want to know if it’s been working or not.
I find that using a really well structured cash flow system means there’s less emphasis on checking the budget. i.e. when I review mine each month, it takes about 45 seconds. Because my cash flow is structured very robustly, I know that as long as I’m not swiping from another account, I’m going to hit my goals. The budget review is a curiosity /…[Read more]
Rebecca Pritchard posted an update in the group Money And Business 6 years, 7 months ago
MAKING FRIENDS WITH THE TAX MAN (AND WOMAN)
Benjamin Franklin said there were only two things certain in life: death and taxes.
I’m not going to talk about the role tax plays in society, but instead focus on the interactions that we have with it. For most of us, it’s one of our biggest household expenses. So, how can we do this bet…[Read more]
Rebecca Pritchard and 
Jamila Rizvi are now friends 6 years, 7 months ago
Rebecca Pritchard posted an update in the group Money And Superannuation 6 years, 7 months ago
BEING SUPER(WOMEN)
We all have superannuation, yet many of us don’t realise what an attractive investment vehicle this really is. Income earned on the investments sitting within the superannuation environment are taxed at a flat rate of 15% (as opposed to those held in your own name where income is taxed at your marginal tax rate), and a c…[Read more]
Oh goodness that article gives me heart palpitations (thankfully I have fabulous insurance)! There’s a big difference between average and ideal. These figures are really crap, if you compare to what someone in this community is likely going to require to maintain their current lifestyle, into the future.
Those in their 60s right now might look…[Read more]
Rebecca Pritchard and 
Morgan Hannaford are now friends 6 years, 7 months ago
Rebecca Pritchard posted an update in the group Money And Superannuation 6 years, 7 months ago
INVESTING LIKE A BOSS: CASH
Is cash an investment? Not really, but it plays a very important role in building your investment approach.
The purpose of this series is to give you the information and prompts you need to get out of cash, and invest for your medium and long term goals and values. However, there will always be circumstances where…[Read more]
Thank you Helen! I hope you’ve enjoyed the posts so far and it’s helping to organise some thoughts. Downturns in the market (both shares and property) are SO exciting for those looking to get started with building their wealth. It’s great to learn about volatility as well as get some bargains. I love both shares and property, so if they’re aligned…[Read more]
I can’t work out how to add an emoji, but if I did, it would be the no deal emoji. This strategy came out of the banks in the 1990s / early 2000’s and makes complete sense on paper (WE used to recommend this a number of years ago). Mathematically very sound! Practically, the margin for error is tiny and in our experience at WE, not even close to…[Read more]
Sounds like you’re ready to go into bat at the next BBQ. Start spreading the good word 🙂
I sure have @rhansen! I’m actually on board with the underlying concept (secretly swiping $$ away from us before we notice) but not a fan of the marketing (spend more to save is an oxymoron if I’ve ever heard one).
However, where I think it can work a treat is where the round-ups are occurring on transactions that we would have done anyway. It’s…[Read more]
Rebecca Pritchard posted an update in the group Money And Superannuation 6 years, 8 months ago
INVESTING LIKE A BOSS: ALTERNATIVES
Errrrr…. So what’s an alternative asset?
When we think of investing, there’s some pretty dominant ideas that come to mind – property and shares. But there’s a big wide world of investing out there, and “alternatives” pretty much covers all the rest.
An alternative is an asset that’s not one of those traditi…[Read more]
@madeleine what are GROW’s thoughts on alternatives?
Credit portfolios were part of the GFC – very poorly designed and managed portfolios. Credit can be a fabulous element of an investment portfolio, and there’s different levels of risk in times of the quality of the underlying debts from super high risk to very chill.
Rebecca Pritchard posted an update in the group Money And Superannuation 6 years, 8 months ago
INVESTING LIKE A BOSS: BUSINESS
20 years ago being a business owner wasn’t the coolest job title going around – today, being an entrepreneur is sexy AF.
Going into business isn’t just a career strategy, it’s a financial strategy.
Investing in businesses, whether yours or someone else’s, needs to be treated like any investment – with diligen…[Read more]
I hear you Patti! I see a very clear trend in the rise of the part-time entrepreneur, who hustles to grow their business on the side, and then gradually transitions into it so they don’t feel that big clunk of dropping to low or no income.
An interesting exercise for you, how would you feel about investing in the same type of business (that you…[Read more]
Adding layers is my favourite approach. I like this plan, and then business down the track 🙂
Rebecca Pritchard posted an update in the group Money And Superannuation 6 years, 8 months ago
INVESTING LIKE A BOSS: PROPERTY
The great Australian dream might be the white picket fence, but this isn’t necessarily the face of the investment property market.
INVESTING in property is about what’s going to give you bang for your buck, not what you would personally like to live in. There’s often a very big gap between these two!
Why do I…[Read more]
I’m quite ambivalent between different types of dwellings – it all depends on value, and what your expectations are around capital growth, rental income and expenses. The different types can all work well.
The potential law changes on negative gearing have been discussed for a number of years – I’ll believe it when it passes. I am very adamant…[Read more]
Ultimately, I hope to pay a lot of tax on my investments, as it means they are cash flow positive and they’re making me lots of money 🙂
That’s excellent self-awareness! Body corporates can be a pain the ass, but they don’t have to be a deal breaker. Often in blocks with < 12 units, the fees are very manageable and will provide you value. When we get into bigger buildings, they can be quite steep and will make you question what you're really getting!
Rebecca Pritchard posted an update in the group Money And Superannuation 6 years, 8 months ago
INVESTING LIKE A BOSS: SHARES
Firstly, what is a share? Whilst at times shares (also called equities) seem like a mythical beast, a share is simple a portion of a company that is already living and breathing. If it’s a listed share, you can trade (buy or sell) on a stock exchange, like the ASX (we’ll focus on these today).
Why do I love sha…[Read more]
Rebecca, thank you so much for this. In the past, one of the biggest obstacles for me has been finding the time to start. Setting time aside to research companies, funds and platforms can be incredibly daunting and something that’s often pushed down our to-do lists. But as women, it’s imperative that we prioritise finances and make informed dec…[Read more]
Completely agree – I wish there was this one-size-fits-all solution to this barrier, but we all have different levels of comfort. I have been working with a lot of my members (particularly the ladies) lately to be putting their financial wellbeing on the same level as going to the gym in terms of fitness priorities, and cleaning the house (when it…[Read more]
Absolutely – but as long as you don’t get overwhelmed with info and then suffer analysis paralysis. I really like ETFs for both those with lower starting balances, and more of an emphasis of buying regularly over time (called dollar cost averaging, which is awesome). Platforms like Clover and Raiz are fab. for this, I use Praemium personally…[Read more]
Rebecca Pritchard posted an update in the group Money And Superannuation 6 years, 8 months ago
INVESTING LIKE A BOSS
So, we’ve got our goals, we’ve got our cash, we’ve got our cash flow sorted. We know we need to invest (our goals are more than three years away). We know we don’t want to put it all in one place.
…errrrr now what? How does one actually “invest”?
This is a bloody big topic, and we’re going to spend a whole WEEK walking th…[Read more]
Rebecca Pritchard posted an update in the group Money And Superannuation 6 years, 8 months ago
WHERE DO YOU PUT YOUR EGGS? (IF NOT IN ONE BASKET)
Diversified investing helps us sleep at night – but the purpose of this might have been lost in translation along the way.
What are we trying to achieve here? We want to know that if shit hits the fan, we haven’t lost everything. If we drop the basket, all our eggs have not been smashed.…[Read more]
Rebecca, I’ve been noticing all the news about both the Aussie and US stock markets plunging over the last few days. What does this mean for for those of us who have stocks, should we be waiting this out? And on the other hand, for those of us who might have been thinking of getting into the stock market, should we watch and learn for the moment,…[Read more]
@rhansen – very interesting reflection. Australia has historically been a solid place to invest, and when shit hit the fan in the GFC, Australia weathered the storm quite well compared to the rest of the world. But this can also mean that if you’re only invested in Australia, you miss out on the fun / good stuff happening elsewhere in the world.…[Read more]
I’m just about to head to the airport – see you soon!!
Rebecca Pritchard joined the group Book Club 6 years, 8 months ago
Rebecca Pritchard posted an update in the group Money And Superannuation 6 years, 8 months ago
BUT FIRST, DO NO HARM
How do we be mindful and present, living our best lives, but preparing in case shit hits the fan?
This week, we’re talking about risk. This is looking at the likelihood that life’s going to throw us curve balls and assessing the potential impact of that.
This is not the most fun topic, but it’s one of the most impor…[Read more]
Hi Sophie – thank you for sharing. Your father-in-law sounds like he’s got you well protected. I’m a bit like that too – insured up to my eye balls, and I try just not to look at how much comes out of the bank each month. I’ve been pondering a lot lately the concept of self-insurance, and at what point of my life (and wealth), will I feel…[Read more]
You know within two days of writing that humble brag – I dropped my phone and smashed the screen 🙁
Definitely worth exploring this concept! It’s an incredibly empowering one – the moment when you think, “you know what, if I couldn’t work and earn an income, that’s totally cool because I have enough income coming in from X investments, my family and I will be ok”. It also helps me balance my desire to insure for errrrrrrrrrrrrything, with the…[Read more]
Rebecca Pritchard posted an update in the group Money And Superannuation 6 years, 8 months ago
DUMPING DEBT – GOOD vs. BAD DEBT AND HOW TO MANAGE BOTH
The dreaded D-word. Not divorce, death, disability (we’ll get to those later), but DEBT. It’s bloody everywhere.
There’s lots of different words for this – borrowing, leveraging, gearing, credit, debt, mortgages, loans, finance. But it’s all about borrowing money from someone, in exchang…[Read more]
@lara_r I say hard no to credit cards. You do not NEED one, this is an excellent marketing move by banks and finance companies. You’re able to build a great credit rating by paying your bills and rent on time. Debit VISA / Mastercard exists now so we can tap and go to our hearts content and buy things online when we want. If you don’t have a…[Read more]
@lee-hayward there’s so much second guessing we do around these things, and I admire your self-awareness around this. You’re really ahead of the curve for that alone, even before you incorporate some of those strategies to ensure you don’t get caught up. Consistency with finances is the least sexy but one of the most important tools to success. Is…[Read more]
For most of us, there’s two key areas to do this. Property and shares. Sounds like you’ve already got a mortgage? It may not be the right time to take on more debt in the property space, but potentially starting to learn more about shares and what leverage in that environment looks like could be very interesting. Definitely watch that link I shared above!
You’re spot on @lee-hayward! I feel that one of the biggest dangers around financial management is that people feel that there’s right / wrong ways to do things, and there’s only one path to success. These sorts of open convo’s are so important so we can learn off each other, because what works for some may be awful for others. The more ideas the better 🙂
Rebecca Pritchard posted an update in the group Money And Superannuation 6 years, 8 months ago
Hey team! This week on #financefriday we’re talking about DEBT! I’d love to know your thoughts / questions on the down-and-dirty areas you’d like to hear about. Can you add some thoughts below or send me a message? Here to help!
Rebecca Pritchard posted an update in the group Money And Superannuation 6 years, 9 months ago
WHAT’S THE BIGGEST BARRIER TO YOU SAVING MONEY?
For almost everyone I work with, myself included, cash flow can sometimes be a bitch.
What’s your best tight-ass tips good-with-money-goddess go-to’s for making your cash work for you? I know there’s some amazing women nailing this here!
This one’s for you @estherbrooks.
Yes! Great idea! Plus, your usage and your needs change over time so you want to make sure you’re getting good bang for your buck.
I love to automate errrrrrrrrrrrything to ensure I never forget to pay something and lose my discount.
You are so spot on Becky! I find that living well within your means is one of the biggest secrets hacks. It means you don’t need to keep earning more $ to keep fuelling your lifestyle and you’ll reach financial freedom sooner.
That being said, it was bloody hard a few years ago when I was earning diddly squat, but over time it’s gotten a lot easier.
Rebecca Pritchard and 
Madeleine Gasparinatos are now friends 6 years, 9 months ago
Rebecca Pritchard posted an update in the group Money And Superannuation 6 years, 9 months ago
FINANCIAL ANCESTRY – HOW OUR FAMILIES HAVE SHAPED OUR THOUGHTS
Nature vs. nurture – how do you feel about the way you’ve come into being, and the influences of your upbringing and environment?
Before we get too deep in planning our financial futures, it’s amazing to look back and reflect on why we think the way we do.
For decades, we’ve been…[Read more]
I find this conversation fascinating! Here’s more on the topic without blowing up the word count 😜https://youtu.be/uJY_-tmJuLM
This is great reflection Becky! Knowledge is power 🙂
I find the best way to start any topic that’s slightly uncomfortable is to simply share one’s own experiences. There’s no judgement, or opinion, just relaying of your own experiences. Showing curiosity helps too.