WEBVTT - 5 ways to cut the cost of living

0:00:01.560 --> 0:00:03.800
<v Speaker 1>Welcome to How Do They Afford That? The podcast that

0:00:03.840 --> 0:00:07.120
<v Speaker 1>peaks into the financial lives of everyday Australians. I'm Michael Thompson.

0:00:07.160 --> 0:00:09.119
<v Speaker 1>I'm an author and the co host of the business

0:00:09.160 --> 0:00:11.719
<v Speaker 1>news podcast Fear and Greed, And as always i am

0:00:11.720 --> 0:00:15.520
<v Speaker 1>with Canna Campbell, financial planner and founder of Sugar Mummer TV,

0:00:15.680 --> 0:00:19.760
<v Speaker 1>the financial literacy platform covering YouTube, podcast books, Instagram, threads,

0:00:19.800 --> 0:00:20.639
<v Speaker 1>TikTok and more.

0:00:21.280 --> 0:00:23.200
<v Speaker 2>Hello, Canna, Hello, how are you?

0:00:23.360 --> 0:00:26.760
<v Speaker 1>I am battling against the cost of living?

0:00:26.920 --> 0:00:29.600
<v Speaker 2>You know what, you and me both, yeah, and everyone else.

0:00:29.600 --> 0:00:33.640
<v Speaker 1>It's a universal thing right now. It is the big

0:00:33.880 --> 0:00:38.760
<v Speaker 1>challenge from interest rates to particularly filling up the car

0:00:39.040 --> 0:00:41.960
<v Speaker 1>right now. It is tough. It is very, very tough.

0:00:42.120 --> 0:00:44.400
<v Speaker 1>But that's all the complaining. We're going to do, no

0:00:44.400 --> 0:00:44.880
<v Speaker 1>more complaining.

0:00:44.920 --> 0:00:47.680
<v Speaker 2>We have solution based. We are the glass half full

0:00:47.800 --> 0:00:48.519
<v Speaker 2>type of people.

0:00:48.840 --> 0:00:50.920
<v Speaker 1>Well see you are glass half full, one class half

0:00:51.000 --> 0:00:53.559
<v Speaker 1>MD and we kind of balance each other out. We

0:00:53.640 --> 0:00:56.680
<v Speaker 1>meet in the middle. But we are actually today going

0:00:56.680 --> 0:01:00.200
<v Speaker 1>to focus on what works. It is solution based. We

0:01:00.240 --> 0:01:03.960
<v Speaker 1>are focusing on how to actually improve the situation, what

0:01:04.080 --> 0:01:07.800
<v Speaker 1>moves the needle and what doesn't, And then we're going

0:01:07.880 --> 0:01:10.440
<v Speaker 1>to bring it all home with kind of five ways,

0:01:10.600 --> 0:01:13.240
<v Speaker 1>a list five ways to cut the cost of living.

0:01:13.280 --> 0:01:16.120
<v Speaker 1>This is all about improving the situation, trying to reduce

0:01:16.160 --> 0:01:20.640
<v Speaker 1>the pressure on the household budget. Let's get cracking. Do

0:01:20.680 --> 0:01:23.880
<v Speaker 1>you think that people tend to focus on the wrong

0:01:24.000 --> 0:01:26.160
<v Speaker 1>things when we're trying to cut costs? Because I was

0:01:26.440 --> 0:01:28.639
<v Speaker 1>when I was, when I was sitting down to prep

0:01:28.760 --> 0:01:31.280
<v Speaker 1>for this, I was like, Okay, is there a risk

0:01:31.319 --> 0:01:34.320
<v Speaker 1>that you focus on these the big picture or the

0:01:35.880 --> 0:01:39.399
<v Speaker 1>small go too small on the cost of living when

0:01:39.440 --> 0:01:41.640
<v Speaker 1>really the savings are to be found elsewhere.

0:01:42.240 --> 0:01:46.720
<v Speaker 2>Look, more often than not, the best and biggest savings

0:01:46.760 --> 0:01:50.040
<v Speaker 2>are quite often just under our nose, in plain sight,

0:01:51.160 --> 0:01:54.240
<v Speaker 2>and we think, you know, we assume, oh well, the groceries,

0:01:54.360 --> 0:01:58.160
<v Speaker 2>the subscriptions, the insurances, we assume they're fixed and we

0:01:58.200 --> 0:02:00.280
<v Speaker 2>can't do things about it, so we immediately glaze over

0:02:00.320 --> 0:02:01.560
<v Speaker 2>them and then go to the next thing.

0:02:01.720 --> 0:02:04.240
<v Speaker 1>The way you're talking sounds as though they are not fixed.

0:02:04.400 --> 0:02:08.760
<v Speaker 2>Well, not necessarily, but when you have been taught how

0:02:08.840 --> 0:02:11.720
<v Speaker 2>to review them properly and to ask the right questions,

0:02:12.040 --> 0:02:14.840
<v Speaker 2>quite often there are some fantastic savings in doing this

0:02:15.000 --> 0:02:18.399
<v Speaker 2>hard work. So I don't think that anyone is necessarily

0:02:18.560 --> 0:02:22.079
<v Speaker 2>looking at the wrong things trying to find savings, but

0:02:22.200 --> 0:02:25.359
<v Speaker 2>rather they haven't been shown where to look and how

0:02:25.400 --> 0:02:27.840
<v Speaker 2>to look properly to find the savings.

0:02:28.040 --> 0:02:30.200
<v Speaker 1>Are you saying that you will tell us the right place?

0:02:30.240 --> 0:02:31.280
<v Speaker 2>Is I believe I will?

0:02:31.560 --> 0:02:35.399
<v Speaker 1>Well? Otherwise, what are we doing here? Really? Do you think? Then?

0:02:36.000 --> 0:02:37.880
<v Speaker 1>And I'm assuming we're going to get to this list

0:02:37.919 --> 0:02:39.360
<v Speaker 1>because we love making a list, and we're going to

0:02:39.360 --> 0:02:42.800
<v Speaker 1>do the five kind of ways to cut costs? But

0:02:43.800 --> 0:02:46.440
<v Speaker 1>is it more effective to focus on those kind of

0:02:46.480 --> 0:02:50.480
<v Speaker 1>those big things, those big fixed that appear fixed costs,

0:02:50.520 --> 0:02:53.680
<v Speaker 1>things like your home loan and those than it is

0:02:53.720 --> 0:02:55.799
<v Speaker 1>to just try and cut like those little bits out

0:02:55.800 --> 0:02:57.840
<v Speaker 1>of your everyday spending, because.

0:02:57.919 --> 0:02:59.160
<v Speaker 2>Little bits really do add up.

0:02:59.280 --> 0:03:02.720
<v Speaker 1>Okay, right, all right, again an incorrect assumption, good start.

0:03:03.360 --> 0:03:06.800
<v Speaker 2>So I'd be focusing first as a priority on my

0:03:06.919 --> 0:03:09.359
<v Speaker 2>sort of hit list of if I was attacking my budget,

0:03:09.360 --> 0:03:10.960
<v Speaker 2>which I do on a regular basis, by the way,

0:03:11.200 --> 0:03:14.440
<v Speaker 2>but I'd be focusing on the biggest expenses first because

0:03:14.919 --> 0:03:17.960
<v Speaker 2>if you can find even a small percentage of those

0:03:18.000 --> 0:03:21.240
<v Speaker 2>big savings, that's going to have the biggest uplift in

0:03:21.320 --> 0:03:24.440
<v Speaker 2>helping free up some cash in your budget, but I

0:03:24.440 --> 0:03:27.880
<v Speaker 2>would still also be looking at the most frequent expenses

0:03:28.080 --> 0:03:29.960
<v Speaker 2>as well. And I think this is where a lot

0:03:30.000 --> 0:03:32.480
<v Speaker 2>of people do get into the trap of thinking, oh, well,

0:03:32.480 --> 0:03:36.200
<v Speaker 2>I'll just cut out my takeaway coffee because it's easier

0:03:36.200 --> 0:03:40.160
<v Speaker 2>to do. But we put off calling up our banks,

0:03:40.160 --> 0:03:43.160
<v Speaker 2>calling up our mortgage broker, you know, speaking to our

0:03:43.200 --> 0:03:46.240
<v Speaker 2>property manager, looking at our insurance policies and what the

0:03:46.280 --> 0:03:48.960
<v Speaker 2>finer details, because sometimes that can seem overwhelming, too much

0:03:48.960 --> 0:03:51.280
<v Speaker 2>hard work, and we don't even realize actually, we could

0:03:51.320 --> 0:03:53.720
<v Speaker 2>probably save twenty percent on our insurance premiums by taking

0:03:53.760 --> 0:03:55.240
<v Speaker 2>out things that we are paying for what we don't

0:03:55.240 --> 0:03:56.720
<v Speaker 2>necessarily need any more.

0:03:56.800 --> 0:03:59.680
<v Speaker 1>But to be fair, cutting out the daily coffee is

0:03:59.720 --> 0:04:01.880
<v Speaker 1>a lot less confrontational.

0:04:01.440 --> 0:04:03.600
<v Speaker 2>That's the problem. This is where we need to really

0:04:04.600 --> 0:04:07.160
<v Speaker 2>step up, be accountable, okay, And at the end of

0:04:07.160 --> 0:04:08.560
<v Speaker 2>the day, do we want to save money or not?

0:04:08.680 --> 0:04:12.680
<v Speaker 2>And perhaps you can find big enough savings by doing

0:04:12.720 --> 0:04:16.640
<v Speaker 2>that hard, deep financial work within your budget so that

0:04:16.720 --> 0:04:19.640
<v Speaker 2>you don't necessarily have to completely give up that takeaway

0:04:19.640 --> 0:04:22.800
<v Speaker 2>coffee that perhaps brings you so much joy and actually

0:04:22.839 --> 0:04:27.200
<v Speaker 2>makes this world a lot more livable and enjoyable as

0:04:27.240 --> 0:04:31.160
<v Speaker 2>it is obviously an incredibly tough economic condition that we're

0:04:31.200 --> 0:04:32.640
<v Speaker 2>living in and navigating right now.

0:04:32.720 --> 0:04:36.600
<v Speaker 1>It is tough, really tough right now. Is there though,

0:04:36.720 --> 0:04:39.880
<v Speaker 1>a risk of kind of like burning out right if

0:04:39.880 --> 0:04:42.440
<v Speaker 1>you're trying to cut too much too quickly. Are you

0:04:42.600 --> 0:04:45.200
<v Speaker 1>just going to get completely jack of it and just

0:04:45.240 --> 0:04:46.240
<v Speaker 1>go no, I can't do this.

0:04:46.760 --> 0:04:48.760
<v Speaker 2>Yes, absolutely, And this is where people really start to

0:04:48.800 --> 0:04:51.240
<v Speaker 2>fall off the track and sometimes even rebel and undo

0:04:51.360 --> 0:04:54.719
<v Speaker 2>all their hard work by self distracting. It's got to

0:04:54.800 --> 0:04:57.600
<v Speaker 2>be sustainable. So whatever you are trimming, you know, you've

0:04:57.600 --> 0:05:00.279
<v Speaker 2>got to think can I actually get through this long term?

0:05:00.800 --> 0:05:03.120
<v Speaker 2>And I think when it comes to budgeting, it's really

0:05:03.200 --> 0:05:06.640
<v Speaker 2>about thinking coming from a mindset of it being intentional

0:05:06.880 --> 0:05:11.039
<v Speaker 2>rather than restrictive. However, I'm also someone who's a big

0:05:11.080 --> 0:05:14.560
<v Speaker 2>believer in mini challenges like bursts and spurts, where you go,

0:05:14.560 --> 0:05:16.800
<v Speaker 2>all right, I'm going to tighten the belt for two

0:05:16.800 --> 0:05:18.440
<v Speaker 2>weeks for fun, if you're up for a bit of

0:05:18.480 --> 0:05:21.240
<v Speaker 2>a challenge, and see what can come from that. So

0:05:21.279 --> 0:05:23.280
<v Speaker 2>if you want to do short, sharp bursts, of course,

0:05:23.600 --> 0:05:26.400
<v Speaker 2>but the big picture needs to be sustainable and you

0:05:26.440 --> 0:05:29.200
<v Speaker 2>need to be building a system behind the way that

0:05:29.240 --> 0:05:32.080
<v Speaker 2>you're spending money and managing your cash flow and your budget.

0:05:32.279 --> 0:05:35.200
<v Speaker 2>That actually supports you, not exhausts you.

0:05:35.760 --> 0:05:39.960
<v Speaker 1>Oh I like that supports, not exhausts. It seems like

0:05:40.000 --> 0:05:41.720
<v Speaker 1>a good time to get into our list, because there

0:05:41.760 --> 0:05:43.560
<v Speaker 1>is nothing more supportive than a good list.

0:05:43.880 --> 0:05:46.000
<v Speaker 2>Right well, I'm hoping what we share will help people

0:05:46.120 --> 0:05:49.760
<v Speaker 2>have a bit of a financial reset and help people,

0:05:50.160 --> 0:05:52.719
<v Speaker 2>you know, I guess, feel a bit safer with where

0:05:52.720 --> 0:05:54.680
<v Speaker 2>their money is going and know that there is an

0:05:54.720 --> 0:05:57.760
<v Speaker 2>ability to at some stage, you know, stay on track

0:05:57.920 --> 0:05:59.000
<v Speaker 2>to the best of their ability.

0:05:59.240 --> 0:06:02.800
<v Speaker 1>So we're going to together a list of five ways

0:06:02.920 --> 0:06:05.960
<v Speaker 1>to cut the cost of living. When I decide how

0:06:05.960 --> 0:06:07.719
<v Speaker 1>many numbers, how many things we're going to do on

0:06:07.760 --> 0:06:10.559
<v Speaker 1>all this, I do it basically to taunt you, because

0:06:10.560 --> 0:06:12.440
<v Speaker 1>I know you have a bit of a thing with numbers,

0:06:12.960 --> 0:06:14.680
<v Speaker 1>and you like it to be a particular way.

0:06:15.040 --> 0:06:16.479
<v Speaker 2>It's not a particular way. I like it to be

0:06:16.480 --> 0:06:17.359
<v Speaker 2>a particular number.

0:06:17.560 --> 0:06:20.920
<v Speaker 1>Yeah, and five would not be very satisfactory to you,

0:06:20.920 --> 0:06:21.280
<v Speaker 1>would it.

0:06:21.440 --> 0:06:25.159
<v Speaker 2>I am feeling a little bit fragile and imbalanced right now.

0:06:25.800 --> 0:06:29.000
<v Speaker 2>You like your it's not an even number thing, it's ten.

0:06:29.120 --> 0:06:30.160
<v Speaker 2>I just like the number ten.

0:06:30.240 --> 0:06:32.360
<v Speaker 1>Well, this is half. It's halfway there.

0:06:32.400 --> 0:06:34.760
<v Speaker 2>It's just that I'm mentally coaching myself.

0:06:35.000 --> 0:06:37.720
<v Speaker 1>Just make them all doubly good, and that way they

0:06:37.760 --> 0:06:39.480
<v Speaker 1>will pretty much kind of equate to ten.

0:06:39.600 --> 0:06:41.320
<v Speaker 2>Well, I'm just going to focus on the richness that

0:06:41.360 --> 0:06:44.320
<v Speaker 2>comes from these five and the doubling the value then

0:06:44.400 --> 0:06:46.000
<v Speaker 2>then makes it technically ten.

0:06:46.080 --> 0:06:48.159
<v Speaker 1>Oh, this is so satisfying. This sounds like such a

0:06:48.240 --> 0:06:51.000
<v Speaker 1>victory for me. Okay, number one on the list of

0:06:51.000 --> 0:06:53.039
<v Speaker 1>ways to cut the cost of living take it away

0:06:53.279 --> 0:06:53.600
<v Speaker 1>all right.

0:06:53.640 --> 0:06:57.400
<v Speaker 2>Obviously the housing, so whether you are renting or whether

0:06:57.600 --> 0:07:01.120
<v Speaker 2>you have a mortgage, So this is obviously the biggest expense,

0:07:01.200 --> 0:07:04.159
<v Speaker 2>according to the ABS, for most Australians right now. So

0:07:04.520 --> 0:07:06.720
<v Speaker 2>if you have a mortgage, you've got to get on

0:07:06.760 --> 0:07:09.840
<v Speaker 2>the phone and speak to your bank and ask them

0:07:09.880 --> 0:07:11.880
<v Speaker 2>if you can if you can get a better deal.

0:07:12.040 --> 0:07:14.640
<v Speaker 2>Otherwise you're going to look at walking. If you don't

0:07:14.640 --> 0:07:16.640
<v Speaker 2>want to make that phone call, speak to a mortgage

0:07:16.640 --> 0:07:19.559
<v Speaker 2>broker and if you're finding that money is particularly tight.

0:07:19.920 --> 0:07:21.840
<v Speaker 2>A great thing about a mortgage broker is they can

0:07:21.880 --> 0:07:24.040
<v Speaker 2>look at your loan term. Now, this is not something

0:07:24.040 --> 0:07:26.760
<v Speaker 2>I would ever recommend unless you're in a serious situation,

0:07:26.840 --> 0:07:29.840
<v Speaker 2>but perhaps you know you're ten years left on your

0:07:29.840 --> 0:07:32.520
<v Speaker 2>home loan, but money is extremely tight right now and

0:07:32.560 --> 0:07:34.680
<v Speaker 2>you're worried that you're going to default. This is the

0:07:34.680 --> 0:07:36.920
<v Speaker 2>phone call to make to say, look, can I potentially

0:07:36.960 --> 0:07:39.520
<v Speaker 2>look at changing the loan term? Not something I want

0:07:39.520 --> 0:07:42.040
<v Speaker 2>to recommend, and I'm not formally recommending it, but these

0:07:42.160 --> 0:07:45.200
<v Speaker 2>options worth considering that can actually help you stay on

0:07:45.240 --> 0:07:48.080
<v Speaker 2>track still keep the roof over your head. And you

0:07:48.160 --> 0:07:51.080
<v Speaker 2>know that's basically restructuring the loan and of course trying

0:07:51.080 --> 0:07:53.240
<v Speaker 2>to get a better rate. And if you don't ask,

0:07:53.400 --> 0:07:55.320
<v Speaker 2>you don't get because we all know that. You know,

0:07:55.600 --> 0:07:57.040
<v Speaker 2>loyalty tax is expensive.

0:07:57.360 --> 0:07:59.760
<v Speaker 1>And I've made that call to the bank to ask

0:07:59.800 --> 0:08:04.160
<v Speaker 1>for a better home line and it was so much

0:08:04.200 --> 0:08:05.960
<v Speaker 1>easier than I thought it was going to be because

0:08:05.960 --> 0:08:08.400
<v Speaker 1>of the thing is they deal with these calls every

0:08:08.720 --> 0:08:11.440
<v Speaker 1>single day. And the thing you need to remember is

0:08:11.520 --> 0:08:14.840
<v Speaker 1>that you're not asking for the money out of the

0:08:14.880 --> 0:08:17.920
<v Speaker 1>person's pocket who's answering the phone. They are representing a

0:08:17.960 --> 0:08:21.680
<v Speaker 1>big corporation and they are trained in this process and

0:08:21.880 --> 0:08:23.680
<v Speaker 1>it is just based on the numbers. They will look

0:08:23.680 --> 0:08:25.360
<v Speaker 1>at it. They will look at how long you've been

0:08:25.520 --> 0:08:28.040
<v Speaker 1>a customer with the bank. They'll look at kind of

0:08:27.800 --> 0:08:31.240
<v Speaker 1>your repayment history and how much equity you have in

0:08:30.800 --> 0:08:34.200
<v Speaker 1>your in your home. It just pays to ask, and

0:08:34.240 --> 0:08:35.920
<v Speaker 1>the worst that they can say is no. And sure

0:08:35.960 --> 0:08:39.679
<v Speaker 1>you feel a little bit sheepish afterwards, but you might

0:08:39.720 --> 0:08:41.080
<v Speaker 1>also be way better off.

0:08:41.160 --> 0:08:43.720
<v Speaker 2>But also you actually then can feel good about yourself

0:08:43.760 --> 0:08:46.000
<v Speaker 2>that you've made that call and you had to go. Yep,

0:08:46.080 --> 0:08:49.080
<v Speaker 2>you haven't left that stone unturned. And you are my

0:08:49.160 --> 0:08:52.080
<v Speaker 2>exact You are the evidence in front of me about

0:08:52.080 --> 0:08:54.480
<v Speaker 2>people not looking at the most obvious ones in front

0:08:54.480 --> 0:08:56.000
<v Speaker 2>of you. You know you put it off for so long,

0:08:56.040 --> 0:08:57.600
<v Speaker 2>because I know you put it off for so long.

0:08:57.840 --> 0:09:00.800
<v Speaker 2>I hounded you for so long with it making that years.

0:09:01.000 --> 0:09:07.199
<v Speaker 1>Yes, that I might be overdue to make that call again, Well.

0:09:07.040 --> 0:09:09.400
<v Speaker 2>Every eighteen months is what my mortgage broker recommends.

0:09:09.440 --> 0:09:12.680
<v Speaker 1>Okay, I'm I'm at close to it.

0:09:13.480 --> 0:09:15.679
<v Speaker 2>Make that phone call. Won't hurt past it?

0:09:15.920 --> 0:09:19.640
<v Speaker 1>Oh God, I'm sorry. I've done you have you have,

0:09:19.760 --> 0:09:23.160
<v Speaker 1>but I just sometimes accidentally disregard your advice.

0:09:23.840 --> 0:09:25.480
<v Speaker 2>Now I want to talk about renting. I was going

0:09:25.520 --> 0:09:27.440
<v Speaker 2>to ask you because this is important. Not everyone has

0:09:27.480 --> 0:09:29.880
<v Speaker 2>a mortgage, and there are people who are renting but

0:09:29.920 --> 0:09:32.560
<v Speaker 2>also rent investing as well. So, you know, I think

0:09:32.679 --> 0:09:36.079
<v Speaker 2>speaking to your property manager and looking at your living

0:09:36.120 --> 0:09:38.920
<v Speaker 2>situation and you know, perhaps it's time to look at

0:09:38.960 --> 0:09:41.120
<v Speaker 2>perhaps a different area. Maybe it is time to look

0:09:41.160 --> 0:09:43.360
<v Speaker 2>at moving, or maybe you can speak to the property

0:09:43.360 --> 0:09:45.640
<v Speaker 2>manager or perhaps some people in situations where they're not

0:09:45.679 --> 0:09:47.920
<v Speaker 2>dealing with the property manager, they're dealing with an owner directly,

0:09:47.960 --> 0:09:49.800
<v Speaker 2>and they can speak to them about the loan term.

0:09:49.960 --> 0:09:52.000
<v Speaker 2>What are there some things they can potentially do to

0:09:52.080 --> 0:09:54.320
<v Speaker 2>the house to add value of the apartment, to add

0:09:54.400 --> 0:09:57.160
<v Speaker 2>value that's going to help, or perhaps extend the lease

0:09:57.200 --> 0:10:00.400
<v Speaker 2>so they've got a longer lease in place to help

0:10:00.480 --> 0:10:03.760
<v Speaker 2>protect them. So having those conversations or perhaps you know,

0:10:03.840 --> 0:10:06.120
<v Speaker 2>if you can't, maybe look at moving. You know, you

0:10:06.160 --> 0:10:08.000
<v Speaker 2>look at walk what can we do with this space?

0:10:08.080 --> 0:10:10.760
<v Speaker 2>Can we look at renting out the car spot, Can

0:10:10.800 --> 0:10:13.040
<v Speaker 2>we look out if you have a spare bedroom, can

0:10:13.120 --> 0:10:15.000
<v Speaker 2>you potentially look at that, or you know, can you

0:10:15.720 --> 0:10:18.199
<v Speaker 2>move into a friend's house on the weekends and look

0:10:18.200 --> 0:10:21.760
<v Speaker 2>at Airbnb if your property manager and the owner actually

0:10:21.760 --> 0:10:24.760
<v Speaker 2>allows that. And I've shared this before. I did this

0:10:24.840 --> 0:10:27.280
<v Speaker 2>with Tom when we were first got together. You know,

0:10:27.320 --> 0:10:29.520
<v Speaker 2>we would take turns in renting our places out on

0:10:29.559 --> 0:10:33.600
<v Speaker 2>Airbnb and it helped hugely, so you know there are

0:10:33.679 --> 0:10:35.000
<v Speaker 2>options worth exploring.

0:10:35.400 --> 0:10:37.440
<v Speaker 1>I find that really interesting the idea of a value

0:10:37.480 --> 0:10:40.240
<v Speaker 1>exchange there as well, that if you talk directly to

0:10:40.480 --> 0:10:42.840
<v Speaker 1>your landlord or to the property manager and say, hey,

0:10:43.440 --> 0:10:46.120
<v Speaker 1>I have these skills, I have the ability to do

0:10:46.240 --> 0:10:49.840
<v Speaker 1>some maintenance, to repair some things. Is there an agreement

0:10:49.880 --> 0:10:52.720
<v Speaker 1>that we can come to that might actually make it

0:10:52.760 --> 0:10:54.520
<v Speaker 1>a little bit more affordable to live right now?

0:10:54.840 --> 0:10:58.240
<v Speaker 2>You would be surprised how often I have had conversations

0:10:58.240 --> 0:11:00.760
<v Speaker 2>with people who have done that. You know, you know

0:11:01.360 --> 0:11:04.400
<v Speaker 2>someone is particularly good at handyman skills. They've fixed up things,

0:11:04.480 --> 0:11:07.080
<v Speaker 2>or they've paid for the apartment to be painted, not

0:11:07.120 --> 0:11:09.319
<v Speaker 2>at the owner's expense, or that you know, I've got

0:11:09.320 --> 0:11:11.800
<v Speaker 2>a situation where you're not looking at extending at least,

0:11:11.800 --> 0:11:13.160
<v Speaker 2>but they'll agree to stay in it for a longer

0:11:13.200 --> 0:11:14.559
<v Speaker 2>period of time and I'm not going to make any

0:11:14.640 --> 0:11:16.360
<v Speaker 2>changes whatsoever, and may even have you to look at

0:11:16.400 --> 0:11:18.720
<v Speaker 2>a lower rand to make sure that they can stay

0:11:18.880 --> 0:11:20.840
<v Speaker 2>longer and take care of the place. And you know,

0:11:22.000 --> 0:11:25.440
<v Speaker 2>owners of properties, no, it's incredibly expensive to lose a tenant,

0:11:26.200 --> 0:11:27.920
<v Speaker 2>even you know it's going to be time in between

0:11:27.960 --> 0:11:29.760
<v Speaker 2>you've got to pay a property manager or leasing fee

0:11:29.760 --> 0:11:34.200
<v Speaker 2>all over again. Get it photographed, get it, you know, repainted, recarpeted, potentially,

0:11:34.720 --> 0:11:38.120
<v Speaker 2>it is a huge headache. Keeping people in your investment

0:11:38.120 --> 0:11:39.840
<v Speaker 2>property is something that you want to do, and you

0:11:39.840 --> 0:11:42.480
<v Speaker 2>can use that information to your advantage to try and

0:11:42.800 --> 0:11:45.480
<v Speaker 2>negotiate some form of savings to help you keep your

0:11:45.520 --> 0:11:46.160
<v Speaker 2>head above water.

0:11:46.240 --> 0:11:48.880
<v Speaker 1>All right, so number one is housing. Let's jump straight

0:11:48.880 --> 0:11:49.640
<v Speaker 1>onto number two.

0:11:50.000 --> 0:11:56.000
<v Speaker 2>Food. Okay, okay, So keeping food more financially friendly is actually,

0:11:56.000 --> 0:11:58.080
<v Speaker 2>I think a lot easier than we think. And the

0:11:58.080 --> 0:11:59.960
<v Speaker 2>amount of people that tell me, oh, I can't keep

0:12:00.120 --> 0:12:02.640
<v Speaker 2>our grocery bills under control, and I start exploring and

0:12:02.679 --> 0:12:03.920
<v Speaker 2>go all right, what are we doing here? What are

0:12:03.920 --> 0:12:05.520
<v Speaker 2>you doing? Tak me through how you go to the shops.

0:12:05.760 --> 0:12:09.040
<v Speaker 2>Turning up to the supermarket with no list whatsoever. That

0:12:09.160 --> 0:12:10.880
<v Speaker 2>is a you know, one way ticket to spend and

0:12:10.920 --> 0:12:14.160
<v Speaker 2>waste a whole pile of money, you know, checking what

0:12:14.200 --> 0:12:18.280
<v Speaker 2>you've already got in your freezer, your fridge and your pantry,

0:12:18.720 --> 0:12:21.320
<v Speaker 2>doing meal planning, which you and I both know is

0:12:21.440 --> 0:12:25.320
<v Speaker 2>really important, you know, buying in bulk obviously, keeping in

0:12:25.320 --> 0:12:27.520
<v Speaker 2>mind with you at the storage for those particular things.

0:12:27.880 --> 0:12:30.160
<v Speaker 2>Even this morning, actually, we were running low on cleaning

0:12:30.160 --> 0:12:33.200
<v Speaker 2>products and I was on Amazon and I noticed one

0:12:33.240 --> 0:12:35.480
<v Speaker 2>of the cleaning products we used. I could buy seven

0:12:35.520 --> 0:12:37.600
<v Speaker 2>bottles of it for twenty dollars, and that normally cost

0:12:37.640 --> 0:12:40.040
<v Speaker 2>me about five dollars a bottle from my normal supermarket.

0:12:40.040 --> 0:12:42.280
<v Speaker 2>I couldn't believe it. So, you know, buying in Bolk

0:12:42.280 --> 0:12:44.880
<v Speaker 2>can often be a great opportunity. Or if you don't

0:12:44.880 --> 0:12:47.400
<v Speaker 2>want to necessarily buy that many, speak to your friends,

0:12:47.400 --> 0:12:49.760
<v Speaker 2>speak to your neighbors, perhaps they need those items too,

0:12:49.760 --> 0:12:51.400
<v Speaker 2>and you can start your own sort of mini cop

0:12:51.440 --> 0:12:54.520
<v Speaker 2>if you like. You know, and keeping meals simple, and

0:12:54.520 --> 0:12:56.720
<v Speaker 2>this is something we've really been doing in our family,

0:12:57.120 --> 0:13:00.840
<v Speaker 2>you know, like I've got three kids, can sometimes be

0:13:00.960 --> 0:13:03.160
<v Speaker 2>very fussy. They like one meal one night and they

0:13:03.160 --> 0:13:05.680
<v Speaker 2>don't like it the next, but just keeping it very simple,

0:13:06.000 --> 0:13:10.800
<v Speaker 2>not expensive gourmet ingredients anymore, just and there's some really

0:13:10.880 --> 0:13:13.679
<v Speaker 2>great cookbooks out there, and there are so many accounts online,

0:13:13.720 --> 0:13:16.800
<v Speaker 2>particularly TikTok, which my son uses all the time, where

0:13:16.840 --> 0:13:20.439
<v Speaker 2>you can find some really budget friendly meals and inspiration

0:13:20.800 --> 0:13:24.040
<v Speaker 2>that are actually not bland but really quite delicious and

0:13:24.080 --> 0:13:25.400
<v Speaker 2>of course healthy.

0:13:25.640 --> 0:13:29.959
<v Speaker 1>The one that we talk about a bit is for ingredients. Yes,

0:13:30.440 --> 0:13:33.800
<v Speaker 1>the series of recipe books which is based on just

0:13:34.040 --> 0:13:36.960
<v Speaker 1>four ingredients and you can add things to them from there,

0:13:37.000 --> 0:13:39.160
<v Speaker 1>but four ingredients is all you need then to get

0:13:39.200 --> 0:13:42.800
<v Speaker 1>the basic meal together. And it's just a great shortcut

0:13:42.840 --> 0:13:45.760
<v Speaker 1>for when you're shopping. And we love to We do

0:13:45.840 --> 0:13:48.520
<v Speaker 1>all of our groceries online because one of the things

0:13:49.080 --> 0:13:52.080
<v Speaker 1>is if you're shopping on coals or woolies or whatever

0:13:52.080 --> 0:13:53.280
<v Speaker 1>it is, you're doing it on the app or doing

0:13:53.320 --> 0:13:56.239
<v Speaker 1>it on the website. You are not cruising around the supermarket,

0:13:56.480 --> 0:13:58.520
<v Speaker 1>and you are not just being tempted by all of

0:13:58.559 --> 0:14:01.400
<v Speaker 1>the sales, all of the special and kids aren't putting

0:14:01.480 --> 0:14:04.520
<v Speaker 1>extra things in and just asking for more. You can

0:14:04.679 --> 0:14:06.640
<v Speaker 1>just get what you need and you can see the

0:14:06.679 --> 0:14:08.600
<v Speaker 1>tally of That's.

0:14:08.400 --> 0:14:10.760
<v Speaker 2>My big thing. Yeah, I love the tally because I

0:14:10.760 --> 0:14:13.920
<v Speaker 2>can we have a set budget each week for groceries,

0:14:14.000 --> 0:14:16.440
<v Speaker 2>and I can see if we're approaching it and we've

0:14:16.559 --> 0:14:18.959
<v Speaker 2>gone over, I can quickly review it and take things

0:14:19.000 --> 0:14:20.600
<v Speaker 2>out and there's none of that embarrassment at the end

0:14:20.640 --> 0:14:22.880
<v Speaker 2>of the you know, the checkout to cue of people

0:14:22.880 --> 0:14:24.520
<v Speaker 2>behind and you're like, oh my goodness, I've spent way

0:14:24.560 --> 0:14:27.200
<v Speaker 2>too much. It is easy, especially with clicking collect. You

0:14:27.240 --> 0:14:28.840
<v Speaker 2>don't even need to pay for groceries.

0:14:28.960 --> 0:14:31.000
<v Speaker 1>Yeah, indeed, so pay You do need to.

0:14:30.960 --> 0:14:32.920
<v Speaker 2>Pay for groceries. You don't need to pay for delivery.

0:14:33.000 --> 0:14:34.760
<v Speaker 1>Yeah, no, no, no, not paying for it's that's that.

0:14:34.800 --> 0:14:36.520
<v Speaker 2>Would be a one way ticket to go to jail.

0:14:36.760 --> 0:14:40.400
<v Speaker 1>Indeed, theft. Okay, that is number two. Food. We're going

0:14:40.440 --> 0:14:42.360
<v Speaker 1>to take a very quick break and come back and

0:14:42.800 --> 0:14:45.880
<v Speaker 1>get three, four, and five, and we are running shorter time,

0:14:45.960 --> 0:14:48.920
<v Speaker 1>so you are going to have to probably speed through

0:14:49.200 --> 0:14:58.600
<v Speaker 1>hammer through these tips back in a moment, Cana. We

0:14:58.600 --> 0:15:00.720
<v Speaker 1>are talking today about five ways to cut the cost

0:15:00.760 --> 0:15:03.040
<v Speaker 1>of living. So far, we've had number one, which is housing.

0:15:03.680 --> 0:15:06.800
<v Speaker 1>Whether you are you have a mortgage or whether you

0:15:06.880 --> 0:15:09.680
<v Speaker 1>are renting, there are ways to save on both of those.

0:15:10.280 --> 0:15:13.240
<v Speaker 1>Number two is food, trying to cut the grocery bill.

0:15:13.320 --> 0:15:14.920
<v Speaker 1>What's number three utilities?

0:15:15.440 --> 0:15:20.560
<v Speaker 2>So most people don't realize loyalty is really rewarded, particularly

0:15:20.640 --> 0:15:25.520
<v Speaker 2>with banks and utility providers. So calling them up say

0:15:25.560 --> 0:15:27.920
<v Speaker 2>I'm thinking of leaving the shop online. You can use

0:15:27.920 --> 0:15:30.280
<v Speaker 2>all the comparison websites as a bit of ammunition up

0:15:30.320 --> 0:15:33.600
<v Speaker 2>your sleeve. I do this every year for financial I

0:15:33.640 --> 0:15:35.440
<v Speaker 2>do this every year for frugal February. And I think

0:15:35.560 --> 0:15:38.200
<v Speaker 2>last this year I saved was it ninety dollars on

0:15:38.240 --> 0:15:40.200
<v Speaker 2>my energy bill and maybe thirty dollars per month on

0:15:40.280 --> 0:15:43.120
<v Speaker 2>my gas bill. Like that's a huge savings to bank.

0:15:43.560 --> 0:15:46.280
<v Speaker 2>So make those calls, and that I've shared before as

0:15:46.320 --> 0:15:48.400
<v Speaker 2>a quick hack, have the number saved in your phone,

0:15:48.600 --> 0:15:51.040
<v Speaker 2>have against the number your account number, so it's quickly

0:15:51.080 --> 0:15:53.160
<v Speaker 2>and easily referenced. You can do it sitting on the

0:15:53.160 --> 0:15:55.760
<v Speaker 2>bus on the way to work. You could do it,

0:15:55.800 --> 0:15:59.200
<v Speaker 2>you know, while you're maybe folding laundry on speakerphone. You know,

0:15:59.360 --> 0:16:01.840
<v Speaker 2>just get make those phone calls and ask and use

0:16:01.880 --> 0:16:05.400
<v Speaker 2>those comparison websites. And there's some great government websites as

0:16:05.400 --> 0:16:07.440
<v Speaker 2>well to help you compare different plans and what's right

0:16:07.480 --> 0:16:07.680
<v Speaker 2>for you.

0:16:08.680 --> 0:16:11.040
<v Speaker 1>It's another one of those that it's just it pays

0:16:11.040 --> 0:16:11.720
<v Speaker 1>to make the call.

0:16:12.120 --> 0:16:12.440
<v Speaker 2>Yeah, right.

0:16:13.520 --> 0:16:17.640
<v Speaker 1>But I don't know about you, but I find electricity

0:16:18.040 --> 0:16:24.160
<v Speaker 1>quite dense. I understand. So when say with your mortgage,

0:16:24.160 --> 0:16:27.320
<v Speaker 1>your home loan, it's quite straightforward to say, okay, this

0:16:27.400 --> 0:16:30.720
<v Speaker 1>bank is offering this interest rate and it is for

0:16:30.760 --> 0:16:34.960
<v Speaker 1>a thirty year loan. All right, I understand that. But

0:16:35.040 --> 0:16:38.640
<v Speaker 1>all of a sudden when you are comparing electricity plans,

0:16:38.960 --> 0:16:42.760
<v Speaker 1>it doesn't feel like you are comparing apples with apples.

0:16:43.080 --> 0:16:45.920
<v Speaker 1>You are suddenly comparing different on peak and off peak

0:16:46.000 --> 0:16:49.160
<v Speaker 1>rates and kind of there's the shoulder periods and all

0:16:49.200 --> 0:16:51.800
<v Speaker 1>these other little incentives and things that are in there.

0:16:52.080 --> 0:16:54.600
<v Speaker 1>I find that quite challenging.

0:16:54.840 --> 0:16:56.360
<v Speaker 2>You need to understand, you need to have a copy

0:16:56.360 --> 0:16:58.520
<v Speaker 2>of your most recent bill so you can look at

0:16:58.520 --> 0:17:00.840
<v Speaker 2>your usage and also consider see what time of the

0:17:00.920 --> 0:17:02.720
<v Speaker 2>year we're in, you know, is it have we just

0:17:02.720 --> 0:17:05.080
<v Speaker 2>come out of a really hot summer where you're located

0:17:05.119 --> 0:17:07.760
<v Speaker 2>and you've been cranking up their conditioning, or you know,

0:17:07.840 --> 0:17:10.919
<v Speaker 2>perhaps you've been away and you know your usage is

0:17:11.160 --> 0:17:14.480
<v Speaker 2>misleadingly low. Perhaps, So that's really important and like getting

0:17:14.520 --> 0:17:15.920
<v Speaker 2>someone to compare your usage.

0:17:16.040 --> 0:17:18.400
<v Speaker 1>Yeah yeah, but the key is have your bill there,

0:17:18.520 --> 0:17:23.240
<v Speaker 1>because that boils information. Yeah, okay, that's number three power

0:17:23.240 --> 0:17:27.720
<v Speaker 1>bills and gas so utilities, number four.

0:17:27.800 --> 0:17:32.840
<v Speaker 2>Transport obviously in particular, you know, trending topic fuel prices,

0:17:32.920 --> 0:17:36.240
<v Speaker 2>you know, so you know, looking at you know, when

0:17:36.280 --> 0:17:38.880
<v Speaker 2>this is actually kind of ironic. Literally on the weekend,

0:17:38.920 --> 0:17:41.119
<v Speaker 2>someone had a conversation with me about buying a new

0:17:41.160 --> 0:17:43.440
<v Speaker 2>car when they should buy a new car, I'm like, no,

0:17:43.760 --> 0:17:46.720
<v Speaker 2>hold on to that car. You know. It is like

0:17:47.200 --> 0:17:49.840
<v Speaker 2>avoid these larger expenses as much as you can until

0:17:49.920 --> 0:17:52.760
<v Speaker 2>the dust cells. You've got greater sort of financial clarity,

0:17:52.880 --> 0:17:55.560
<v Speaker 2>you know, particularly when you're if you're this person was

0:17:55.600 --> 0:17:58.080
<v Speaker 2>complaining about how expensive everything is right now, how tight

0:17:58.119 --> 0:18:03.160
<v Speaker 2>things are, you know, being really strategic with your fuel usage.

0:18:03.560 --> 0:18:06.040
<v Speaker 2>I'm curious to know have you changed the way that

0:18:06.119 --> 0:18:10.879
<v Speaker 2>you use your family car since fuel prices have skyrocketed.

0:18:11.000 --> 0:18:13.800
<v Speaker 1>Absolutely, we are trying to use it a lot less.

0:18:14.680 --> 0:18:16.760
<v Speaker 2>I'm being so much more strategic where you know, if

0:18:16.760 --> 0:18:18.520
<v Speaker 2>I have to pick a child up, I would normally

0:18:18.560 --> 0:18:20.280
<v Speaker 2>just go pick a child up and then maybe delay

0:18:20.280 --> 0:18:22.840
<v Speaker 2>picking another one or go to the supermarket later on

0:18:22.880 --> 0:18:27.440
<v Speaker 2>that day. It is now one very efficient, sometimes very

0:18:27.440 --> 0:18:30.000
<v Speaker 2>stressful with three kids a trip where I try and

0:18:30.080 --> 0:18:32.800
<v Speaker 2>just do it all in one swoop, because I mean

0:18:32.880 --> 0:18:35.840
<v Speaker 2>it is just painful filling up petrol now and just

0:18:35.880 --> 0:18:38.400
<v Speaker 2>seeing the impact on you know, your budget and where

0:18:38.400 --> 0:18:39.840
<v Speaker 2>that money has to come from, where you've got to

0:18:39.840 --> 0:18:42.680
<v Speaker 2>find it to help keep petrol in the car. Obviously,

0:18:42.680 --> 0:18:46.080
<v Speaker 2>then there's the obvious ones like public transport, you know,

0:18:46.400 --> 0:18:49.480
<v Speaker 2>avoiding obviously you know, long trips if you can. Car

0:18:49.480 --> 0:18:51.240
<v Speaker 2>pulling is another big one that I've been doing a

0:18:51.240 --> 0:18:53.560
<v Speaker 2>lot with my friends, you know, avoiding, you know, if

0:18:53.560 --> 0:18:56.320
<v Speaker 2>we're meeting up somewhere, we all go in a separate car,

0:18:56.640 --> 0:18:58.679
<v Speaker 2>you know, like we previously did, or each got our

0:18:58.720 --> 0:19:01.360
<v Speaker 2>own uber if we were you know, drinking alcohol. Perhaps

0:19:01.560 --> 0:19:03.280
<v Speaker 2>now it's like, no, I'm going to swing by and

0:19:03.320 --> 0:19:05.000
<v Speaker 2>pick you up and we'll all go together. And then

0:19:05.040 --> 0:19:07.399
<v Speaker 2>the other person obviously shouts the uber home and you know,

0:19:07.480 --> 0:19:11.159
<v Speaker 2>public transport, like it's just fantastic if you are in

0:19:11.200 --> 0:19:13.560
<v Speaker 2>a position where you can access public transport of course.

0:19:13.640 --> 0:19:18.960
<v Speaker 1>Yeah, okay, number five, what have you got for us?

0:19:19.000 --> 0:19:22.560
<v Speaker 1>Because it feels like you've actually covered all of the

0:19:22.560 --> 0:19:24.280
<v Speaker 1>big areas that I could think of. This is a

0:19:24.280 --> 0:19:25.000
<v Speaker 1>real mystery.

0:19:25.160 --> 0:19:27.800
<v Speaker 2>So it's actually medical. But I also want to be

0:19:27.960 --> 0:19:32.560
<v Speaker 2>very careful here because obviously access and options aren't always

0:19:32.640 --> 0:19:38.960
<v Speaker 2>of you know, equal value opportunity. But not everyone necessarily

0:19:39.000 --> 0:19:41.760
<v Speaker 2>has this like the luxury of a medical center around

0:19:41.760 --> 0:19:43.920
<v Speaker 2>the corner or a doctor that they can in their

0:19:43.960 --> 0:19:47.879
<v Speaker 2>local town. But you know, looking at certain situations perhaps

0:19:47.920 --> 0:19:51.640
<v Speaker 2>where you can maybe access telehealth or a bulk billing service,

0:19:52.680 --> 0:19:54.280
<v Speaker 2>you know, when you go to the chemist and you're

0:19:54.320 --> 0:19:56.360
<v Speaker 2>filling scripts because I know a lot of people she's

0:19:56.400 --> 0:19:58.680
<v Speaker 2>skipping filling their scripts from the recent studies that have

0:19:58.760 --> 0:20:02.679
<v Speaker 2>been released, which is really frightening and really concerning, is

0:20:02.920 --> 0:20:05.199
<v Speaker 2>you know, is there a generic medication that they can

0:20:05.200 --> 0:20:08.399
<v Speaker 2>switch to without compromising on the quality. And also taking

0:20:08.400 --> 0:20:12.439
<v Speaker 2>a proactive approach in managing your health and wellbeing so

0:20:12.480 --> 0:20:15.040
<v Speaker 2>that you avoid having to go to the doctors in

0:20:15.080 --> 0:20:16.679
<v Speaker 2>the first place. And by no means what I ever say,

0:20:16.760 --> 0:20:19.480
<v Speaker 2>don't go to save money, That's far from it, but

0:20:19.920 --> 0:20:23.640
<v Speaker 2>you know, just taking I guess a more mindful, intentional,

0:20:23.640 --> 0:20:28.520
<v Speaker 2>holistic approach with managing your health, staying fit, getting outside,

0:20:28.960 --> 0:20:32.040
<v Speaker 2>having the power of connection with your community, you know,

0:20:32.440 --> 0:20:34.200
<v Speaker 2>understanding when you do need to go to a doctor

0:20:34.240 --> 0:20:35.800
<v Speaker 2>or when it's such too much more serious you need to

0:20:35.840 --> 0:20:38.840
<v Speaker 2>go and see a specialist. And even saying to your doctor,

0:20:39.200 --> 0:20:41.120
<v Speaker 2>I'm on a really tight budget. Is there any chance

0:20:41.119 --> 0:20:43.320
<v Speaker 2>you can actually tick a box sort of on a

0:20:43.359 --> 0:20:45.399
<v Speaker 2>scan or can you ask the doctor if they do

0:20:45.440 --> 0:20:47.960
<v Speaker 2>in thing bulk billing, because they're conversations I've definitely had

0:20:48.000 --> 0:20:49.200
<v Speaker 2>and it has saved me money.

0:20:49.720 --> 0:20:52.000
<v Speaker 1>And the other thing is if you do have health

0:20:52.200 --> 0:20:55.080
<v Speaker 1>private health insurance is to have a really good look

0:20:55.119 --> 0:20:57.680
<v Speaker 1>at what is on offer through your fund and there

0:20:58.560 --> 0:21:00.359
<v Speaker 1>there are often benefits there that you may not have

0:21:00.359 --> 0:21:03.040
<v Speaker 1>actually used, and you may not be aware that you

0:21:03.119 --> 0:21:06.280
<v Speaker 1>might be able to get, say a portion of your

0:21:06.359 --> 0:21:10.440
<v Speaker 1>gym back, for instance. Or the one that I love

0:21:10.680 --> 0:21:12.720
<v Speaker 1>is that if you're in a capital city, a lot

0:21:12.760 --> 0:21:16.320
<v Speaker 1>of the big private health insurers now have clinics that

0:21:16.400 --> 0:21:19.679
<v Speaker 1>are based on eye care, dent and care where you

0:21:19.680 --> 0:21:22.800
<v Speaker 1>can take the whole family in get a check up,

0:21:22.840 --> 0:21:24.560
<v Speaker 1>get an eye test, get.

0:21:24.440 --> 0:21:29.600
<v Speaker 2>It clean, fluoride, and they'll often be no fee, no fee,

0:21:30.200 --> 0:21:33.480
<v Speaker 2>or it's a fraction of what you'd pay. And I mean,

0:21:33.760 --> 0:21:37.040
<v Speaker 2>I'm very open when we are with HCF and I

0:21:37.119 --> 0:21:40.359
<v Speaker 2>use the dental clinic for all of us. And you know,

0:21:40.680 --> 0:21:42.639
<v Speaker 2>there was a bit of a communication breakdown Thomas spending

0:21:42.640 --> 0:21:44.320
<v Speaker 2>a fortunate the dentist and it wasn't til I cottoned

0:21:44.359 --> 0:21:47.480
<v Speaker 2>on and saw the bit invoices that I was like, no,

0:21:47.600 --> 0:21:48.960
<v Speaker 2>you get it for free. And he's been doing it

0:21:48.960 --> 0:21:51.159
<v Speaker 2>ever since. He's like, this is brilliant, this is great.

0:21:51.080 --> 0:21:53.960
<v Speaker 1>Hopecially for kids. How much trouble did you get in well?

0:21:54.000 --> 0:21:55.359
<v Speaker 2>And you know what I am to blame because it

0:21:55.400 --> 0:21:59.800
<v Speaker 2>was a communication breakdown, so a lot. Yes, I could

0:21:59.800 --> 0:22:00.880
<v Speaker 2>both from travel.

0:22:00.560 --> 0:22:02.639
<v Speaker 1>All right, okay, all right, that's a good list. That

0:22:02.840 --> 0:22:07.160
<v Speaker 1>is five good things. The other thing when I was well,

0:22:07.560 --> 0:22:10.639
<v Speaker 1>let me recap the list. First number one was of

0:22:10.680 --> 0:22:16.439
<v Speaker 1>course housing. Number two is food. Number three utilities so

0:22:16.480 --> 0:22:19.840
<v Speaker 1>your power bill and your gas bill. Number four is

0:22:19.960 --> 0:22:22.480
<v Speaker 1>transport and on that. I had to get the car

0:22:22.600 --> 0:22:26.800
<v Speaker 1>service recently, worst possible time because it's just transport costs

0:22:26.800 --> 0:22:29.000
<v Speaker 1>are going through the roof. And again it was just

0:22:29.040 --> 0:22:32.360
<v Speaker 1>being really upfront with the mechanic at the outset. Basically,

0:22:32.440 --> 0:22:34.639
<v Speaker 1>I said, I just need this to pass red Jo,

0:22:35.040 --> 0:22:37.879
<v Speaker 1>I just just do what is needed for that. And

0:22:37.920 --> 0:22:39.800
<v Speaker 1>all of a sudden it went from us. It went

0:22:39.840 --> 0:22:44.200
<v Speaker 1>from a major logbook service down to just a small

0:22:44.240 --> 0:22:46.880
<v Speaker 1>service enough to kind of pass. From four new tires,

0:22:46.920 --> 0:22:48.920
<v Speaker 1>it went to two tires and things like that, and

0:22:48.960 --> 0:22:52.560
<v Speaker 1>all of a sudden, still ridiculously expensive, right, but it

0:22:52.600 --> 0:22:56.600
<v Speaker 1>was also just a little bit of being upfront right

0:22:56.720 --> 0:22:59.840
<v Speaker 1>from the outset can actually save you a lot of money.

0:22:59.840 --> 0:23:02.840
<v Speaker 1>And maybe when things ease, when the pressure isn't on

0:23:02.840 --> 0:23:04.960
<v Speaker 1>the household budget so much, I can go back and

0:23:05.040 --> 0:23:06.760
<v Speaker 1>kind of do the rest of those things later. But

0:23:06.840 --> 0:23:09.200
<v Speaker 1>rather than having to find the money now for all

0:23:09.240 --> 0:23:11.720
<v Speaker 1>of those things, just being honest from the.

0:23:11.680 --> 0:23:13.840
<v Speaker 2>Outset, you start to come from place, you start opening

0:23:13.880 --> 0:23:16.520
<v Speaker 2>up the conversation around solutions. Examples of getting new ties.

0:23:16.560 --> 0:23:18.520
<v Speaker 2>Perhaps they go okay, well in that case, knowing that

0:23:18.560 --> 0:23:20.879
<v Speaker 2>about you, why don't we just brutate the tires and

0:23:21.040 --> 0:23:22.399
<v Speaker 2>put the back ones on the front, and then you

0:23:22.400 --> 0:23:25.840
<v Speaker 2>can get another x amount kilometers. So just you are

0:23:25.960 --> 0:23:28.480
<v Speaker 2>kicking the can down the road a little bit, but

0:23:28.600 --> 0:23:30.360
<v Speaker 2>it just helps you get through the next couple of months,

0:23:30.400 --> 0:23:32.440
<v Speaker 2>which was what we're all needing right now. It's short

0:23:32.520 --> 0:23:33.439
<v Speaker 2>term solution indeed.

0:23:33.440 --> 0:23:35.879
<v Speaker 1>Indeed, and the last one, of course was medical and

0:23:35.920 --> 0:23:40.919
<v Speaker 1>that completes our list. We are over time, but in

0:23:41.000 --> 0:23:45.720
<v Speaker 1>thirty seconds or less. If someone is feeling completely overwhelmed

0:23:46.040 --> 0:23:52.160
<v Speaker 1>right by rising costs, they're just coppying it from every side.

0:23:52.480 --> 0:23:56.680
<v Speaker 1>What is the first practical step that they can do

0:23:57.200 --> 0:23:59.680
<v Speaker 1>right now to regain control.

0:24:00.119 --> 0:24:03.040
<v Speaker 2>With awareness, Stop buring your head in the sand and

0:24:03.119 --> 0:24:06.040
<v Speaker 2>ignoring this. It is everybody needs to be looking at

0:24:06.040 --> 0:24:09.240
<v Speaker 2>where their money goes, their budgets and their financial goals,

0:24:09.880 --> 0:24:13.439
<v Speaker 2>and quit the judgment. We're all in this together. You

0:24:13.480 --> 0:24:16.840
<v Speaker 2>know it's really hard. I mean, the abs have come

0:24:16.880 --> 0:24:20.880
<v Speaker 2>out and said, you know, the biggest drivers of inflation

0:24:21.000 --> 0:24:25.400
<v Speaker 2>right now are housing, food, energy, So everybody is under

0:24:25.520 --> 0:24:28.280
<v Speaker 2>huge amounts of pressure and stretched. You know you are

0:24:28.280 --> 0:24:31.040
<v Speaker 2>not alone, but we also need to be kind to ourselves,

0:24:31.040 --> 0:24:34.360
<v Speaker 2>like drop the judgment. And when you get some clarity

0:24:34.440 --> 0:24:36.560
<v Speaker 2>as to where your money is going, it gives you

0:24:36.600 --> 0:24:41.280
<v Speaker 2>back a sense of control. And the smallest tiniest changes

0:24:41.359 --> 0:24:44.000
<v Speaker 2>in your budget, particularly when you can implement them on

0:24:44.040 --> 0:24:49.840
<v Speaker 2>a consistent basis, can definitely transform your financial position over time.

0:24:50.400 --> 0:24:52.639
<v Speaker 2>So please don't ever turn your nose up. But oh well,

0:24:52.680 --> 0:24:54.440
<v Speaker 2>why would I bother for ten dollars a week saving

0:24:54.840 --> 0:24:56.240
<v Speaker 2>you know what? Ten dollars a week is over five

0:24:56.320 --> 0:24:58.359
<v Speaker 2>hundred dollars a year. That money I'd rather be in

0:24:58.400 --> 0:24:59.720
<v Speaker 2>your pocket making you feel better?

0:25:00.119 --> 0:25:02.760
<v Speaker 1>Well said? All right? If people want more information from you,

0:25:02.800 --> 0:25:03.560
<v Speaker 1>where do they find you?

0:25:03.680 --> 0:25:05.359
<v Speaker 2>The best place to get ahold of me is always

0:25:05.359 --> 0:25:07.920
<v Speaker 2>on Instagram at Sugar Mama TV, and you.

0:25:07.840 --> 0:25:10.120
<v Speaker 1>Can hear me every day with Sean Aylmer on Fear

0:25:10.160 --> 0:25:12.679
<v Speaker 1>and Greed business news. You can use thank you for

0:25:12.720 --> 0:25:14.359
<v Speaker 1>listening to how do they afford that? Remember to hit

0:25:14.440 --> 0:25:16.439
<v Speaker 1>follow on the podcast, and the very best thing that

0:25:16.480 --> 0:25:19.119
<v Speaker 1>you can do is tell somebody else. And if you

0:25:19.240 --> 0:25:21.240
<v Speaker 1>know someone who might be struggling with the cost of living,

0:25:21.240 --> 0:25:23.080
<v Speaker 1>then send them a link to this episode and they

0:25:23.119 --> 0:25:26.760
<v Speaker 1>can hear some of these little pearls of wisdom for themselves.

0:25:26.920 --> 0:25:28.720
<v Speaker 1>Thank you very much for your company. Join us again

0:25:28.800 --> 0:25:29.160
<v Speaker 1>next week.