WEBVTT - Inside Canna's new money mindset 0:00:01.600 --> 0:00:03.840 Welcome to How Do They Afford That? The podcast that 0:00:03.880 --> 0:00:07.320 peaks into the financial lives of everyday Australians. I'm Michael Thompson. 0:00:07.400 --> 0:00:09.080 I'm a writer and the co host of the podcast 0:00:09.160 --> 0:00:12.280 Fear and Greed business news. As always, I'm with Canna Campbell, 0:00:12.280 --> 0:00:15.440 financial planner, founder of Sugar Mama TV, the financial literacy 0:00:15.480 --> 0:00:21.440 platform that is on Instagram and threads and books, podcasts, YouTube, TikTok, 0:00:22.000 --> 0:00:25.919 keynote speeches and more. Hello Canna, Hello, how are you? 0:00:26.200 --> 0:00:31.280 I am? Well, thank you. I am intrigued by today's topic. 0:00:32.240 --> 0:00:36.040 It's a one that you have been thinking a lot 0:00:36.080 --> 0:00:39.040 about lately and quite deeply, yes as well. 0:00:39.200 --> 0:00:45.040 It's really impacted me and it's really changed my mindset 0:00:45.040 --> 0:00:47.120 and the way that I want to talk about money 0:00:47.720 --> 0:00:48.880 in an evolved way. 0:00:48.920 --> 0:00:51.600 You could say, oh, that sounds very kind of high level, 0:00:52.080 --> 0:00:55.600 but really, I mean everyone's heard of the work life balance, right, 0:00:55.840 --> 0:00:59.280 This idea of kind of restoring some kind of order 0:00:59.760 --> 0:01:02.160 of working to live, not living to work, all that 0:01:02.960 --> 0:01:07.240 kind of thing. Remote and hybrid working has certainly helped 0:01:07.560 --> 0:01:10.240 with that. So today we're kind of starting with the 0:01:10.319 --> 0:01:13.320 idea of work life balance and looking at how it 0:01:13.360 --> 0:01:15.880 applies to money in a way. Is there's such a 0:01:15.959 --> 0:01:21.200 thing as finding a financial balance, a balance between all 0:01:21.240 --> 0:01:24.039 the different components of your life in terms of your money, 0:01:24.040 --> 0:01:26.759 you're saving, you're spending, paying down debts, kind of investing, 0:01:26.760 --> 0:01:29.280 all of these bits and pieces, getting them all working 0:01:29.480 --> 0:01:35.760 in in harmony. Great word, what is financial balance? Have 0:01:35.840 --> 0:01:38.880 I completely butchered it there? Or was I roughly close? No? 0:01:39.200 --> 0:01:43.720 As you said, like, it's something, How do I explain this? Okay, 0:01:43.760 --> 0:01:47.400 So to go straight to the point, My idea of 0:01:47.480 --> 0:01:51.440 financial balance has changed and evolved. So I watched an 0:01:51.480 --> 0:01:56.160 interview recently with Jeff Bezos and he was challenging the 0:01:56.280 --> 0:01:58.320 term of balance and. 0:01:58.480 --> 0:01:58.960 What it was. 0:01:59.000 --> 0:02:02.200 He suggested that the idea of balance implies a trade 0:02:02.240 --> 0:02:05.000 off or sacrifices, so you can't have too much of 0:02:05.000 --> 0:02:07.680 that because then you've got to go without that. Instead, 0:02:07.760 --> 0:02:10.120 what he explains in this particular interview is he sees 0:02:10.160 --> 0:02:14.040 it more as a work life flow where if you 0:02:14.080 --> 0:02:16.799 are fulfilled and growing at work, you are then more 0:02:16.840 --> 0:02:19.880 present and happy at home. So it's about moving in 0:02:19.919 --> 0:02:23.920 a state of harmony. And this had a huge impact. 0:02:24.200 --> 0:02:26.960 It was so thought provoking in that it made me 0:02:27.000 --> 0:02:29.760 think about money. You know, if you don't spend something, 0:02:29.960 --> 0:02:31.760 you know, with the consequence of that or if you 0:02:31.800 --> 0:02:34.640 still spend money the consequence of spending that money. So 0:02:34.760 --> 0:02:38.200 my definition of balance really has changed. And you know, 0:02:38.520 --> 0:02:42.640 I've always thought balance is something in movement. You can't 0:02:42.680 --> 0:02:46.359 just have permanent, perfect balance and just have it static. 0:02:46.400 --> 0:02:51.000 It is always moving. So for me now financial balance 0:02:51.120 --> 0:02:55.320 is actually about having every dollar has its purpose, has 0:02:55.360 --> 0:02:59.160 its role, and it's now about a moving, healthy flow 0:02:59.240 --> 0:03:05.400 between saving, investing, and obviously planning for retirement to managing debt, 0:03:05.600 --> 0:03:10.359 but also included in that mix is some guilt free spending. 0:03:11.120 --> 0:03:15.320 So it's about achieving an element of financial harmony in 0:03:15.360 --> 0:03:19.040 how we actually allocate the motion and movement of money 0:03:19.040 --> 0:03:21.320 in our lives. And instead of just seeing it in 0:03:21.360 --> 0:03:23.720 a very polar black or white world where it's about 0:03:23.840 --> 0:03:27.480 saving and spending in very simplistic ways and seeing them 0:03:27.480 --> 0:03:32.280 as you know, competing goals, it's actually about combining them 0:03:32.320 --> 0:03:36.160 all together, almost like a piece of music that helps 0:03:36.240 --> 0:03:40.880 create an overall sense of harmony and fulfillment and satisfaction. 0:03:41.560 --> 0:03:46.040 So it's not about you sacrificing, but actually about creating 0:03:46.040 --> 0:03:50.240 freedom and having a plan that allows a very healthy 0:03:50.360 --> 0:03:56.920 respectful sense of enjoyment today, but also honoring and respecting tomorrow, 0:03:57.520 --> 0:04:00.640 rather than feeling like we are stretched and pulled and 0:04:00.680 --> 0:04:03.280 pushed in all sorts of different directions with these competing 0:04:03.840 --> 0:04:10.280 goals and ambitions and dreams and also financial responsibilities and pressures. 0:04:11.320 --> 0:04:14.360 Sorr it went for a really long answer. No, see, 0:04:14.400 --> 0:04:15.800 it's really impacted me. 0:04:16.120 --> 0:04:19.440 Yeah, and all of this kind of starting with Jeff Bezos, 0:04:19.680 --> 0:04:21.480 which is not a place where I thought we would 0:04:21.480 --> 0:04:24.000 start an episode. And it's interesting because obviously he's the 0:04:24.600 --> 0:04:28.480 founder of Amazon and one of the richest people in 0:04:28.520 --> 0:04:32.080 the world. And I always kind of wonder when you 0:04:32.080 --> 0:04:34.320 hear people like that talking about the importance of work 0:04:34.360 --> 0:04:36.960 life balance. It perhaps it's easier to have a work 0:04:36.960 --> 0:04:38.919 life balance when you have one hundred billion dollars in 0:04:38.920 --> 0:04:40.839 the bank account and kind of you're not. But he's 0:04:40.920 --> 0:04:41.679 living to work. 0:04:41.800 --> 0:04:44.200 He's a very busy person working. He isn't like, you know, 0:04:44.440 --> 0:04:45.440 he's made obviously an. 0:04:45.400 --> 0:04:47.320 Absolute yeah, indeed empire. 0:04:47.520 --> 0:04:50.680 Yeah, but he's still working and you know. 0:04:50.680 --> 0:04:54.599 No, it's but it's a really good starting point for 0:04:54.640 --> 0:04:59.000 this because this idea of money being in a flow 0:04:59.720 --> 0:05:04.279 is an interesting, interesting idea, and this concept that every 0:05:04.320 --> 0:05:10.040 dollar should have its purpose, that that it is spending, investing, 0:05:10.240 --> 0:05:12.880 even kind of giving yourself room to kind of treat yourself. 0:05:13.240 --> 0:05:18.000 It feels like you're moving into your I'm going to 0:05:18.080 --> 0:05:20.560 say your I was going to say your woo woo 0:05:20.600 --> 0:05:26.120 era maybe of money with this. But it is actually 0:05:26.120 --> 0:05:30.000 really practical, isn't it? Because it is not just necessarily 0:05:30.040 --> 0:05:32.480 about changing your mindset. It is about a practical kind 0:05:32.520 --> 0:05:35.120 of system or a practical way of looking at money. 0:05:35.720 --> 0:05:37.599 How do you figure out that, how do you figure 0:05:37.600 --> 0:05:39.640 out if you are in balance or whether you are 0:05:39.960 --> 0:05:44.400 like overweight on one particular aspect of money. It's about 0:05:44.400 --> 0:05:48.719 stepping back and doing an audit of your finances of 0:05:48.760 --> 0:05:51.200 what you are spending, what you are saving, what you 0:05:51.279 --> 0:05:55.000 are investing, how much debt you have, how you're paying 0:05:55.040 --> 0:05:58.520 that back, whether you are allowing yourself to have any 0:05:58.560 --> 0:06:01.440 fun with your money as well? Is it just is 0:06:01.480 --> 0:06:03.400 it step back first and look. 0:06:03.279 --> 0:06:06.440 At it, Step back and look at what's going on, 0:06:06.520 --> 0:06:10.080 and explore and dissect and get in touch with how 0:06:10.120 --> 0:06:13.239 you're feeling, so you know, look at the spending habits, 0:06:13.360 --> 0:06:15.400 and look at the debts that you have in your life, 0:06:15.640 --> 0:06:18.400 and what savings you might have and any investments that 0:06:18.440 --> 0:06:22.200 you've built so far, and then ask yourself where does 0:06:22.240 --> 0:06:25.240 this sit with your value system? You know, how does 0:06:25.240 --> 0:06:30.039 this allocation of debts or savings of investments even you know, 0:06:30.080 --> 0:06:33.120 how does that actually make you feel? And look to 0:06:33.520 --> 0:06:37.120 what actually makes you feel proud and smile inside. So 0:06:37.160 --> 0:06:38.839 you might think, you know what, when I look at 0:06:38.880 --> 0:06:42.120 my savings accounts, I feel good about myself. I feel strong, 0:06:42.160 --> 0:06:45.760 I feel resilient. So that is a great insight for 0:06:45.839 --> 0:06:48.520 you then to build upon and go, Okay, well, that 0:06:48.640 --> 0:06:51.360 is actually something that I really value. It's really important 0:06:51.400 --> 0:06:52.880 to me. I can maybe I need to look at 0:06:52.960 --> 0:06:55.719 channeling more of my focus to have that financial harmony, 0:06:56.360 --> 0:06:58.599 to maybe prioritizing a little bit more my savings and 0:06:58.640 --> 0:07:01.600 what I can potentially do, and then obviously going back 0:07:01.600 --> 0:07:03.800 to the budget. So what I'm trying to say is 0:07:03.920 --> 0:07:07.200 it's the reflection that helps identify the errors that needs 0:07:07.200 --> 0:07:11.040 some adjustments so that you have that mindfulness to make 0:07:11.920 --> 0:07:14.320 the changes to your flow of money in your life 0:07:14.840 --> 0:07:17.760 so that you can actually feel like it's more connected 0:07:17.880 --> 0:07:22.400 and more purposeful and more realistic with the current situation 0:07:22.480 --> 0:07:22.800 you're in. 0:07:23.080 --> 0:07:26.440 I suppose without being too cynical about it, and I 0:07:26.480 --> 0:07:29.880 suppose that the part that kind of sticks in my crawl, 0:07:30.360 --> 0:07:33.640 so to speak with Jeff Bezos is it feels like 0:07:33.720 --> 0:07:36.680 this kind of reflection is almost a luxury that I 0:07:36.760 --> 0:07:39.720 might be wrong with that. Yeah, it feels like it 0:07:39.760 --> 0:07:43.480 can be a luxury if you have plenty of money, 0:07:43.840 --> 0:07:46.400 if you have the ability to actually kind of put 0:07:46.480 --> 0:07:48.840 money into you know what. I really feel like I 0:07:48.880 --> 0:07:51.920 need to be putting more into the future and investing more, 0:07:52.000 --> 0:07:54.040 or be kind of spending more on me. I'm not 0:07:54.080 --> 0:07:57.240 appreciating money. That It's easy enough to say that if 0:07:57.280 --> 0:08:00.440 you have the money there to do that with. But 0:08:00.560 --> 0:08:05.320 if you are constantly financially stretched and every week you 0:08:05.360 --> 0:08:08.160 are just living from kind of paycheck to paycheck and 0:08:08.160 --> 0:08:11.360 you're just getting by, how can you apply this mindset 0:08:11.440 --> 0:08:13.680 to that great question? 0:08:14.080 --> 0:08:16.480 And you are you are? I think you're spot on. 0:08:16.800 --> 0:08:21.120 But also I don't have squeallias of dollars like Jeff Bezos. 0:08:21.440 --> 0:08:24.120 I think it's more of the mindset principle in it 0:08:24.440 --> 0:08:26.960 taking the pressure and stress that you're putting on your 0:08:27.000 --> 0:08:31.240 own shoulders to look at, Okay, things are really tight 0:08:31.280 --> 0:08:35.040 right now, how can I find out what I value. So, 0:08:35.280 --> 0:08:37.760 for example, things might be you might have lots of debts. 0:08:37.760 --> 0:08:41.760 At the moment that awareness that it creates, it goes, okay, 0:08:41.800 --> 0:08:44.400 all right, I don't value the debts of my life. 0:08:44.559 --> 0:08:47.600 I need that that is a priority for me, and 0:08:47.760 --> 0:08:49.920 I need to channel my energy and the flow of 0:08:49.960 --> 0:08:53.920 money to making sure that I honor that goal in 0:08:53.960 --> 0:08:57.080 a sense of financial harmony to pay that debt off, 0:08:57.120 --> 0:09:00.560 like use it as a tool to help maintain focus 0:09:00.600 --> 0:09:03.880 and motivation, because you will then value once you are 0:09:03.960 --> 0:09:07.120 debt free. So I'm saying I probably not articulating myself 0:09:07.200 --> 0:09:08.719 very well, but and I understand exactly what you say, 0:09:08.720 --> 0:09:11.720 and I actually hope I completely agree. But I'm also 0:09:11.840 --> 0:09:14.120 using this as someone who is just like everybody else. 0:09:14.120 --> 0:09:17.520 I've got a mortgage, I've got childcare, I've got grocery bills. 0:09:17.559 --> 0:09:20.040 You know, I've got the same stresses and pressures as 0:09:20.080 --> 0:09:23.079 every was most of people do out there. And I'm 0:09:23.160 --> 0:09:25.560 using this as a way of creating an awareness so 0:09:25.600 --> 0:09:28.360 that I don't get beat myself up and get myself 0:09:28.360 --> 0:09:30.960 down if I don't achieve something or something doesn't work 0:09:30.960 --> 0:09:34.480 out or didn't land where I'm supposed to, but also 0:09:34.520 --> 0:09:38.360 to help create that understanding of what's important, where does 0:09:38.400 --> 0:09:42.760 my value sit in the whole story of harmony, and 0:09:43.840 --> 0:09:47.320 just completely understanding that it doesn't. It's not a war 0:09:47.679 --> 0:09:52.040 inside our bank accounts and our investment portfolios. It's about 0:09:53.120 --> 0:09:55.000 and this is why I say the idea of which 0:09:55.160 --> 0:09:56.920 is not Jeff's idea about the idea of a movement, 0:09:56.960 --> 0:09:59.439 it's mine. You know, that's I talked about an idea 0:09:59.440 --> 0:10:01.959 of a song. You know, there are times in your 0:10:02.000 --> 0:10:04.360 life where debts are important being on top of and 0:10:04.400 --> 0:10:06.640 that's you know, like you think about an orchestra, you know, 0:10:07.240 --> 0:10:09.880 you know, the brass might be the dominant sound in 0:10:09.920 --> 0:10:13.080 that particular piece of music. So that's the debts. You know. 0:10:13.120 --> 0:10:15.640 You go, okay, well, all right, right now, the feeling 0:10:15.679 --> 0:10:17.840 of debt doesn't feel good. I need to honor that. 0:10:17.920 --> 0:10:20.000 I have that awareness now, I need to honor and 0:10:20.040 --> 0:10:23.560 respect it, and my financial flow goes towards that, and 0:10:23.600 --> 0:10:25.880 I will. I'm committed to going through that piece of 0:10:25.920 --> 0:10:28.840 music until it fades out and I can use what 0:10:28.880 --> 0:10:30.719 I've learned from that to then flow onto other things. 0:10:30.760 --> 0:10:32.440 But in the meantime, I have that awareness as to 0:10:32.480 --> 0:10:35.280 what I want as the next piece in the music 0:10:35.800 --> 0:10:38.000 and I'm waving my hands around like a conductor. 0:10:38.080 --> 0:10:40.000 It does feel like you are conducting this flow of 0:10:40.000 --> 0:10:40.640 money right now. 0:10:40.679 --> 0:10:43.120 And that's something that I think sometimes when you are 0:10:43.320 --> 0:10:45.720 motivated and you're ambitious, and you're you know you've got 0:10:45.760 --> 0:10:48.800 this financial drive to build a great life yourself, you 0:10:48.840 --> 0:10:52.800 can definitely page yourself in a corner where you put 0:10:52.840 --> 0:10:55.360 so much stressure and pressure on yourselves to achieve certain 0:10:55.400 --> 0:10:58.480 goals and then if you fall short or that something 0:10:58.520 --> 0:11:00.600 happens and you don't even come close to you can 0:11:00.679 --> 0:11:03.040 really beat yourself up. And this is just a different 0:11:03.600 --> 0:11:06.200 a bit of a mindset refresh to look at something 0:11:06.200 --> 0:11:08.840 from a different perspective and understand that there are different 0:11:08.880 --> 0:11:12.320 times of your life where unfortunately it is about debt 0:11:12.600 --> 0:11:14.400 and it is about getting back on top of that debt. 0:11:14.679 --> 0:11:17.800 But knowing that the song will change, the chorus will 0:11:17.840 --> 0:11:19.720 fade away and the next lyrics you know part of 0:11:19.720 --> 0:11:21.280 the song will come up and you'll move on to 0:11:21.320 --> 0:11:23.640 the next part of your life. And having understanding that 0:11:23.720 --> 0:11:26.560 nothing is set in stone, things do move. Things you 0:11:26.600 --> 0:11:29.560 have achieved by that connection to what you value. Because 0:11:29.920 --> 0:11:32.400 for example, I hate debt. We have a mortgage. 0:11:32.440 --> 0:11:33.479 I hate it. 0:11:33.880 --> 0:11:36.560 But you know, Bruce, for you, you might not really 0:11:36.559 --> 0:11:39.520 bother you about the mortgage, but it's having that awareness 0:11:39.559 --> 0:11:42.800 of what you value and what makes you feel harmonious inside, 0:11:43.000 --> 0:11:46.400 so you can focus on more of that to give 0:11:46.440 --> 0:11:47.599 you more happiness. 0:11:47.760 --> 0:11:52.040 All right, I understand. I think the mindset. Now we're 0:11:52.080 --> 0:11:54.080 going to take a quick break now, and when we 0:11:54.120 --> 0:11:55.719 come back, I want to talk about how we then 0:11:55.880 --> 0:11:59.680 implement some strategies using that mindset. So it's not just 0:11:59.679 --> 0:12:02.400 about the theoretical, it is actually about the practical how 0:12:02.440 --> 0:12:04.600 we kind of use that to go Okay, I want 0:12:04.640 --> 0:12:06.880 to focus on my debt or I want to focus 0:12:06.920 --> 0:12:09.560 it on investing and how you can use that in 0:12:09.640 --> 0:12:13.319 order to set yourself up or come back in a second. 0:12:18.520 --> 0:12:21.760 Can are we talking today about financial balance? And it 0:12:21.840 --> 0:12:26.560 is quite a It's an alternative way of looking at money, 0:12:26.640 --> 0:12:28.840 isn't it. It is really about kind of the flow 0:12:29.040 --> 0:12:31.760 of money. And I initially thought when we were talking 0:12:31.800 --> 0:12:34.040 about it that it was about goal setting, that it 0:12:34.080 --> 0:12:37.400 was about setting these goals, but being open to the 0:12:37.400 --> 0:12:39.800 fact that you may get their different ways to what 0:12:40.400 --> 0:12:43.480 you intended. That it's not just go one hundred percent 0:12:43.720 --> 0:12:46.040 in the direction of this particular goal that it might 0:12:46.080 --> 0:12:48.400 actually take you off in different directions, but you'll still 0:12:48.440 --> 0:12:52.040 get there eventually. But it now feels it doesn't quite 0:12:52.040 --> 0:12:53.880 feel like that, because it feels like if you set, 0:12:54.120 --> 0:12:56.480 if you're setting these hard and fast goals for yourself, 0:12:56.520 --> 0:13:00.760 you are setting yourself up to potentially fail and you 0:13:00.800 --> 0:13:04.120 will be too hard on yourself. Have I interpreted this correctly? 0:13:04.120 --> 0:13:06.640 But as it absolutely and there's an awesome element you 0:13:06.679 --> 0:13:10.160 could say it's almost surrendering, not giving up at all, 0:13:10.160 --> 0:13:14.920 but surrendering to the process and the journey and obviously 0:13:15.120 --> 0:13:18.559 means still doing your best and trying, but just taking 0:13:18.600 --> 0:13:22.280 that pressure off yourself and to stop thinking that I 0:13:22.320 --> 0:13:24.040 can't buy that because you know, I've got to do this. 0:13:24.240 --> 0:13:26.880 Like it's making peace within yourself to allow things within 0:13:26.920 --> 0:13:28.920 a mindful, respectful way. 0:13:28.920 --> 0:13:31.800 Of course. You know, now I'm going to ask you 0:13:31.840 --> 0:13:36.040 to put it into a formula or some because it's 0:13:36.040 --> 0:13:39.360 been a very kind of theoretical, hypothetical, kind of slightly 0:13:39.400 --> 0:13:42.480 woo woo kind of discussion. How do we put it 0:13:42.520 --> 0:13:46.840 into practice? Because we've talked in the past about financial priorities, 0:13:46.960 --> 0:13:49.200 about kind of whether you pay down your debt first, 0:13:49.320 --> 0:13:51.480 or whether you kind of start investing or whether you 0:13:51.880 --> 0:13:54.120 are focusing on the mortgage or whether you're focusing on 0:13:54.160 --> 0:13:59.000 getting just the household budget under control. There's no simple formula, 0:13:59.160 --> 0:13:59.720 is there. 0:14:00.240 --> 0:14:03.920 And you know, this is the thing with financial planning, 0:14:04.240 --> 0:14:06.240 and as a financial planner, you could tell a client 0:14:06.320 --> 0:14:09.320 this is the most efficient way to fix your finances, 0:14:09.679 --> 0:14:12.679 but you've really got to respect that money doesn't work 0:14:12.800 --> 0:14:14.520 like this. And this is this is kind of what 0:14:15.120 --> 0:14:18.280 Jeff Bezos is saying. A client might say to you, Look, 0:14:19.080 --> 0:14:21.720 I actually don't really care about the mortgage. Yes, it 0:14:22.040 --> 0:14:24.440 will come down, it will come down, you know within 0:14:24.520 --> 0:14:28.280 the banks terms and conditions. I actually value being able 0:14:28.320 --> 0:14:31.240 to take my family on a holiday once a year, 0:14:31.840 --> 0:14:35.400 or being able to work part time. That's that awareness 0:14:35.480 --> 0:14:38.920 to what that person's values are. And of course we 0:14:38.960 --> 0:14:41.400 go through different stages of our lives where you know 0:14:42.000 --> 0:14:46.240 things are important and they're not then important five years later. 0:14:46.280 --> 0:14:48.920 And I know for myself that you know, when I 0:14:48.960 --> 0:14:50.920 had children, that was a huge shift for me in 0:14:51.400 --> 0:14:53.840 where money played a role in my life. It was 0:14:53.920 --> 0:14:57.280 more about security and stability rather than that ambition of 0:14:57.280 --> 0:14:58.040 building wealth. 0:14:58.680 --> 0:15:01.640 So is it about and aligning money to your values? 0:15:01.680 --> 0:15:04.240 But understanding that your values change. 0:15:04.440 --> 0:15:07.080 Yes, absolutely, As I said, nothing is set in stone, 0:15:07.120 --> 0:15:10.320 and it's really important. You know, the best relationship you 0:15:10.320 --> 0:15:13.240 could ever have is with yourself. So this includes that 0:15:13.400 --> 0:15:16.600 understanding of what where money fits in and what money 0:15:16.600 --> 0:15:19.160 represents to you in your life. Does it represent stability? 0:15:19.160 --> 0:15:23.720 Does it represent freedom, does it represent independence, luxury? You know, 0:15:24.040 --> 0:15:26.320 investing that time to actually find out what that is 0:15:26.360 --> 0:15:29.920 and knowing that it will most likely change and evolve 0:15:29.960 --> 0:15:32.120 as we do with our own personal growth and development 0:15:32.120 --> 0:15:32.560 of life. 0:15:32.600 --> 0:15:35.680 Okay, So using that then to set your financial priorities 0:15:35.720 --> 0:15:37.720 and again kind of coming back to how we practically 0:15:37.800 --> 0:15:40.880 implement this. It is about stepping back. It is about 0:15:40.880 --> 0:15:44.760 reflecting on what is causing you the greatest angst potentially, 0:15:44.880 --> 0:15:47.080 So I say it is the mortgage, or say it 0:15:47.120 --> 0:15:50.280 is this feeling that you know what, I'm still young. 0:15:50.520 --> 0:15:52.960 I have an opportunity now to set myself up for 0:15:53.000 --> 0:15:55.160 the future. I need to pay attention to my super 0:15:55.680 --> 0:15:58.920 It is about okay, this is what I need right 0:15:59.000 --> 0:16:02.760 now in order to really the pressure on myself and 0:16:03.440 --> 0:16:05.960 putting your attention on that. 0:16:06.240 --> 0:16:10.000 Yes, and making peace with those decisions. Okay, because you 0:16:10.200 --> 0:16:12.560 have that boundary in place, yes, I am going to 0:16:12.560 --> 0:16:15.880 prioritize my superinnuation. But I'm going to prioritize my superhuation 0:16:16.280 --> 0:16:21.800 whilst also enjoying travel, or whilst also enjoying buying beautiful 0:16:21.880 --> 0:16:24.920 produced food or whatever it met. That person's individual value 0:16:24.960 --> 0:16:25.960 system is okay. 0:16:26.000 --> 0:16:28.200 And never mind the fact that, yes, you might have 0:16:28.200 --> 0:16:30.840 a mortgage at the same time, and everyone says you 0:16:30.840 --> 0:16:32.760 have to pay your mortgage down as quickly as you can. 0:16:33.360 --> 0:16:36.560 That doesn't necessarily apply to you because it doesn't align 0:16:36.640 --> 0:16:38.200 with your values exactly. 0:16:38.240 --> 0:16:41.040 It's like the people who would prefer to take the 0:16:41.120 --> 0:16:43.920 scenic route and enjoy the journey rather than the other 0:16:43.960 --> 0:16:47.280 person who values getting to their destination is in the fastest, 0:16:47.280 --> 0:16:49.280 most efficient way possible, but they're happy to pay the 0:16:49.280 --> 0:16:50.520 tolls and go on the motorway. 0:16:51.680 --> 0:16:52.520 It's making sense. 0:16:52.960 --> 0:16:55.800 I know, I'm really worried. I haven't quite got my 0:16:56.240 --> 0:16:57.600 making sense. Does this make sense? 0:16:57.800 --> 0:17:00.680 It actually is. And then that kind of leads me 0:17:00.720 --> 0:17:03.960 into that point that you made earlier. You mentioned it 0:17:04.000 --> 0:17:09.960 in passing about life stages requiring different approaches to financial balance, 0:17:10.640 --> 0:17:14.399 in that as you perhaps approach retirement, you will be 0:17:14.560 --> 0:17:17.760 feeling the pressure of that and making sure that you 0:17:17.840 --> 0:17:20.040 are kind of setting yourself up that you're going to 0:17:20.080 --> 0:17:23.160 have enough money to live the retirement that you want, 0:17:23.240 --> 0:17:25.320 and so suddenly that is the thing that is kind 0:17:25.320 --> 0:17:27.840 of your priority, and the other things may kind of 0:17:28.080 --> 0:17:31.600 drift away for now. And it is being comfortable with 0:17:31.800 --> 0:17:35.800 that and not necessarily feeling that you're doing the wrong 0:17:35.840 --> 0:17:39.000 thing by focusing choosing to focus on that and not 0:17:39.440 --> 0:17:42.000 just saving or not paying down other debt. Things like 0:17:42.200 --> 0:17:43.720 is this I am getting this? 0:17:44.200 --> 0:17:49.120 And about living authentically in alignment to your values, obviously 0:17:49.160 --> 0:17:53.439 with an element of financial intelligence, but understanding the flow 0:17:53.640 --> 0:17:55.679 and how all the pieces move together. 0:17:56.760 --> 0:18:01.800 Okay, symphony? What in symphony? This starts? It brings it 0:18:01.800 --> 0:18:04.119 back to you and your big conductor hands that you 0:18:04.240 --> 0:18:04.720 had before. 0:18:04.880 --> 0:18:08.360 What's a very philosophical episode. And I'm sure it's working progress, 0:18:08.359 --> 0:18:11.960 I'm but it's had a huge impact on me and 0:18:12.280 --> 0:18:15.520 I think you know, right now, obviously things are tight, 0:18:15.640 --> 0:18:18.399 you know, the interest rates rise in cost of living. 0:18:19.040 --> 0:18:21.919 You know, a lot of people are feeling stressed and pressure. 0:18:22.040 --> 0:18:25.560 For me, in discovering this and exploring and pondering and 0:18:25.600 --> 0:18:30.119 reflecting and parking and coming back to it, it's helped 0:18:30.320 --> 0:18:35.720 move my mindset into a less restrictive, high pressure you 0:18:35.760 --> 0:18:39.520 know about deprovision and sacrifices, and just made it a 0:18:39.560 --> 0:18:43.760 bit more lightweight, which is what some of us need 0:18:43.840 --> 0:18:44.240 right now. 0:18:44.440 --> 0:18:49.240 Yeah, what does success look like in this? What is 0:18:49.280 --> 0:18:57.120 the end goal here? A balanced approach financial balance? What 0:18:57.200 --> 0:19:00.520 does that result in? Is it a life of financial freedom? 0:19:00.920 --> 0:19:04.040 Is it retirement kind of with enough money to travel 0:19:04.080 --> 0:19:06.160 and to buy a new car every couple of years 0:19:06.200 --> 0:19:08.560 or something like or or is it much like the 0:19:08.840 --> 0:19:11.960 actual financial plan? Is that fluid as well? 0:19:12.200 --> 0:19:15.480 I think it's fluid. You know. Obviously the mac Daddy 0:19:15.560 --> 0:19:18.000 Rolls Royce financial strategy is to be able to live 0:19:18.040 --> 0:19:20.560 off the passive income off your investments, whether it be 0:19:20.600 --> 0:19:23.920 through superannuation or through your growing investment put forward. That 0:19:24.000 --> 0:19:27.920 is the sort of basics one oh one of financial freedom. 0:19:28.240 --> 0:19:30.639 But let's look at it, I guess go back to 0:19:30.680 --> 0:19:33.440 your value system and your priorities. For some people that 0:19:33.480 --> 0:19:35.720 doesn't float their boat. That's not what they're up for, 0:19:35.840 --> 0:19:38.439 like that they actually for them that their definition of 0:19:38.480 --> 0:19:42.000 financial freedom is actually, you know, being able to travel 0:19:42.040 --> 0:19:44.840 around the world and live in lots of different countries 0:19:44.920 --> 0:19:48.359 and do volunteer work. It's that's why I said, you 0:19:48.359 --> 0:19:50.880 know a second ago. It's about living authentically in alignment 0:19:50.920 --> 0:19:53.720 to your value systems, but in best time exploring it 0:19:53.720 --> 0:19:56.640 so you can create that flow for yourself and make 0:19:56.680 --> 0:19:57.239 peace with that. 0:19:57.840 --> 0:20:00.359 So it's kind of running your own race. Is not 0:20:00.400 --> 0:20:02.880 comparing yourself to others, and it's making sure that your 0:20:02.960 --> 0:20:06.199 money and your strategies for money, and you're prioritizing of 0:20:06.240 --> 0:20:09.560 different kind of things just aligns with with your values, 0:20:09.560 --> 0:20:12.440 which can change over time. Yes, and you use the 0:20:12.520 --> 0:20:14.480 term macdaddy. I don't know how I feel about this. 0:20:15.400 --> 0:20:17.639 I'm really sorry about that. We I'll go and find 0:20:17.680 --> 0:20:19.399 another term to use next time. 0:20:19.440 --> 0:20:20.679 I don't think we'll put that on the list of 0:20:20.720 --> 0:20:22.560 things that are not allowed to be mentioned in the 0:20:22.600 --> 0:20:26.320 studio ever. Again, very philosophical episodes today, except for the 0:20:26.359 --> 0:20:28.960 macdaddy part that that's not philosophical at all. 0:20:29.920 --> 0:20:31.440 Am I allowed to use the term rolls Royce. 0:20:31.640 --> 0:20:36.120 Yeah, that's fine, Okay, that's completely legit Macdaddy. Ah, No way, 0:20:36.600 --> 0:20:39.320 all right, You've given us plenty to think about here. 0:20:39.920 --> 0:20:43.520 I would love to hear your thoughts listeners as to 0:20:43.560 --> 0:20:46.040 what you think of this and whether any of this 0:20:46.160 --> 0:20:48.919 has made sense and whether anything is actually resonated with 0:20:49.000 --> 0:20:52.520 you and helps you find an element of maybe flow 0:20:52.640 --> 0:20:53.440 financial flow. 0:20:53.960 --> 0:20:55.800 Okay, And if people want to get in touch with 0:20:55.840 --> 0:20:58.560 you on through Instagram, through Instagram is the best way 0:20:58.560 --> 0:21:00.760 to reach you, all right. And you can hear every 0:21:00.800 --> 0:21:03.399