WEBVTT - Nadine Higgins: Finding the path of least resistance 0:00:05.721 --> 0:00:13.401 You're listening to the Weekend Collective podcast from News talksbe. 0:00:49.201 --> 0:00:51.881 And welcome back to the show. This is a Weekend 0:00:51.881 --> 0:00:55.281 collective on Tim Beverage and this is Smart Money. Now 0:00:55.321 --> 0:00:57.241 we have a new guest in the studio. It's always 0:00:57.241 --> 0:00:59.241 exciting to get a new guest. She's not necessarily a 0:00:59.281 --> 0:01:01.361 stranger to people from the media point of view, because 0:01:01.681 --> 0:01:04.361 she has been around and about in the media circles 0:01:04.361 --> 0:01:07.001 for a little while. But she is now a financial 0:01:07.081 --> 0:01:09.721 advisor and coach with Enable Me and her name is 0:01:09.841 --> 0:01:14.041 Nadine Higgins Nadine or Nadine Nadine. Sorry about that, No, 0:01:14.161 --> 0:01:14.601 that's okay. 0:01:14.601 --> 0:01:15.441 Thanks for asking. 0:01:15.841 --> 0:01:17.481 Well, as I said it, I thought how and I 0:01:17.481 --> 0:01:19.441 should have checked that before. How are you? 0:01:19.841 --> 0:01:22.921 I'm very well, thank you? And what Yes, yeah, it 0:01:23.001 --> 0:01:25.481 is an internal heater going at the moment you do. 0:01:25.681 --> 0:01:28.481 And luckily you are at that stage of a pregnancy 0:01:28.521 --> 0:01:33.961 where I feel reasonably relaxed at saying hey, congratulations. 0:01:33.161 --> 0:01:35.401 Have you been eating all the pies? Or asking I mean, 0:01:35.401 --> 0:01:36.121 I'm also doing that. 0:01:37.881 --> 0:01:39.081 How's it all going? All good? 0:01:39.361 --> 0:01:42.561 Yeah, really good. It's a different pregnancy when you're also 0:01:42.641 --> 0:01:46.001 running around after a toddler. So our son is sixteen 0:01:46.041 --> 0:01:50.041 months old and he's full noise, and so there's less 0:01:50.081 --> 0:01:51.481 relaxing than go on. 0:01:52.161 --> 0:01:55.561 Ah yeah, and actually, so have you got another what 0:01:55.561 --> 0:01:56.841 three or four months to go or something? 0:01:56.961 --> 0:01:59.401 H three? Yeah, so there'll be about nineteen months apart. 0:01:59.601 --> 0:02:01.241 Oh that was the same with ours. Twenty We are 0:02:01.281 --> 0:02:02.601 twenty months in between our two. 0:02:02.681 --> 0:02:06.401 So well, it's incredible really four years trying to have 0:02:06.481 --> 0:02:10.161 our son, Frankie, and then we accidentally got pregnant with 0:02:10.281 --> 0:02:10.801 the second. 0:02:10.921 --> 0:02:13.321 We are almost I mean, we didn't quite have the 0:02:13.401 --> 0:02:15.161 journey were I mean, I know we're talking about money here, 0:02:15.201 --> 0:02:15.961 but it's good to get to. 0:02:15.961 --> 0:02:19.241 Know is relevant to money. 0:02:19.361 --> 0:02:22.001 Yeah, well we went through a few a few well 0:02:22.001 --> 0:02:24.721 we had there were a few. My wife it's the Wii, 0:02:24.801 --> 0:02:27.201 but she went to go through the emotional, the physical 0:02:27.681 --> 0:02:31.681 term alliver miscarriages. But it's funny. The second time was 0:02:31.761 --> 0:02:35.121 completely what do you mean? I'm not sure how much 0:02:35.161 --> 0:02:37.001 to give away about that, but there was a day 0:02:37.041 --> 0:02:41.161 when we shifted Lily into her own room and then 0:02:41.241 --> 0:02:44.041 a few weeks later my wife was like, one, guess what, 0:02:45.081 --> 0:02:47.641 it's quite funny. Anyway, too much information. I think I 0:02:47.801 --> 0:02:48.721 just overshared there. 0:02:48.881 --> 0:02:53.241 Anyway, I don't know that's okay. I'm not thinking the dots, and. 0:02:53.241 --> 0:02:54.841 I'm not thinking of you. I'm thinking the fact that 0:02:54.881 --> 0:02:59.601 we're actually anyway. So you're with Enabled Me and your 0:02:59.681 --> 0:03:01.921 financial advisor. How have you been doing that gig for now? 0:03:02.081 --> 0:03:07.281 I've been with Enable Me for uce six years, and 0:03:07.401 --> 0:03:11.801 the last three I think I have been as an advisor. 0:03:13.321 --> 0:03:16.201 And obviously my background was as a journalist, but I 0:03:16.241 --> 0:03:19.921 actually started out hosting the business show early in the 0:03:19.961 --> 0:03:23.241 morning when they had One and Zed, and before that 0:03:23.401 --> 0:03:27.201 was a financial journalist with rin Z and so it 0:03:27.281 --> 0:03:31.361 actually felt like the perfect fit. I'd been writing lots 0:03:31.361 --> 0:03:34.801 of financial content and doing their communications that Enabled Me, 0:03:35.201 --> 0:03:37.401 and then they said would you present some webinars? And 0:03:37.441 --> 0:03:39.041 I thought, oh, well, I don't really want to do 0:03:39.041 --> 0:03:41.401 that unless I'm qualified. And then I thought, well, why 0:03:41.401 --> 0:03:42.521 don't I get qualified? 0:03:43.041 --> 0:03:45.801 Actually this sounds like it. I specialized in what I 0:03:45.841 --> 0:03:48.761 think could be dumb questions, but there's simple questions. What 0:03:49.721 --> 0:03:53.441 got you interested in money? Because the obvious answer anyone 0:03:53.481 --> 0:03:56.001 listening boy, well we all love money. But what got 0:03:56.001 --> 0:03:58.641 you interested in that side of it and managing finances? 0:03:59.321 --> 0:04:01.961 I think and writing about it in the first place 0:04:02.041 --> 0:04:02.361 came back. 0:04:02.561 --> 0:04:05.281 What prompted me to get into that as a journalist. 0:04:05.761 --> 0:04:10.361 Was I think I had a real desire to know myself. Yeah, 0:04:10.441 --> 0:04:12.521 you know, I came from a family. You know, my 0:04:12.601 --> 0:04:14.921 mum was a single mum for a lot of my childhood. 0:04:14.921 --> 0:04:18.081 We didn't have a lot of money. I was acutely 0:04:18.121 --> 0:04:22.921 aware of that, and despite her best efforts to give 0:04:23.001 --> 0:04:26.201 us everything that we needed. And I think I just 0:04:26.321 --> 0:04:29.241 really craved financial security. And so I think it started 0:04:29.241 --> 0:04:31.001 from a place of wanting to educate myself. 0:04:31.241 --> 0:04:33.881 Was this at school? Were we talking school? 0:04:34.041 --> 0:04:35.961 Not so much? Although I was good at economics, I 0:04:36.001 --> 0:04:37.201 really enjoyed economics. 0:04:37.321 --> 0:04:42.401 Wow you Oh no, it's only just a running gag 0:04:42.441 --> 0:04:44.081 on that. I think I got a C minus at 0:04:44.201 --> 0:04:46.201 university or a C plus. I even talked about it with 0:04:47.201 --> 0:04:49.841 a good All yesterday from Corl Logy. He says, c's 0:04:49.881 --> 0:04:54.241 get degrees anyway, well done. When did you feel when 0:04:54.241 --> 0:04:57.401 did you feel you learned your first significant lesson in finances? 0:04:57.441 --> 0:04:59.881 Then that you sort of thought, oh, I think I 0:04:59.961 --> 0:05:01.161 get this now, you know what I mean. 0:05:01.961 --> 0:05:04.521 I started as a financial reporter right at the beginning 0:05:04.561 --> 0:05:09.721 of the financial crisis, and so I watched the devastating 0:05:09.801 --> 0:05:12.481 impacts on so many people. You know, you were interviewing 0:05:12.521 --> 0:05:17.441 people who'd lost money in bridge Court or Hanover or 0:05:17.681 --> 0:05:20.081 you know, and these were people who'd put their life 0:05:20.161 --> 0:05:23.681 savings in to get a slightly better rate of return 0:05:23.721 --> 0:05:26.361 than they could get in the bank, and it had 0:05:26.721 --> 0:05:29.881 changed the game for many of them are reparably. You know, 0:05:29.921 --> 0:05:32.281 they didn't have time to make that ground back up, 0:05:32.881 --> 0:05:35.681 and they'd thought they were doing the right thing, and 0:05:36.041 --> 0:05:37.681 you know, some of them didn't take advice. Some of 0:05:37.721 --> 0:05:41.881 them had been put crook potentially by advisors. And so 0:05:41.961 --> 0:05:44.721 I suppose that's where my first lesson came from. And 0:05:44.761 --> 0:05:47.841 I still vividly remember saving my first ten thousand dollars 0:05:48.241 --> 0:05:51.441 at about the age of twenty one, and it was 0:05:51.521 --> 0:05:54.561 when the official cash rate was eight point two five percent, 0:05:54.961 --> 0:05:56.881 and I put it on a term deposit for eighteen 0:05:56.921 --> 0:06:00.081 months and it was like nine point seventy five or someone. 0:06:00.161 --> 0:06:02.441 Goodness, it would have been like, wow, this is good. 0:06:02.521 --> 0:06:05.041 I'm not even working on getting another almost a thousand 0:06:05.121 --> 0:06:06.841 and bucks in the first year of investment. 0:06:07.561 --> 0:06:10.881 And so coming to high interest rates the second time round, 0:06:11.121 --> 0:06:13.321 not having the savings and having the mortgage was a 0:06:13.361 --> 0:06:14.841 totally different experience. 0:06:15.041 --> 0:06:17.961 Actually, that you would have seen a lot of change 0:06:17.961 --> 0:06:20.401 then because back in the old Hanover days that in fact, 0:06:20.481 --> 0:06:24.761 that company name was almost a trigger for remembering that 0:06:24.801 --> 0:06:27.481 there was a sort of maybe a lack of regulation. 0:06:27.521 --> 0:06:29.881 Because things have changed a lot now when it comes 0:06:29.921 --> 0:06:34.641 to advertising, hey earned ten percent, eleven percent, me one's going, 0:06:34.681 --> 0:06:36.561 oh bingo, I stent the money in there without really 0:06:36.601 --> 0:06:38.361 realizing how safe it was or wasn't. 0:06:38.641 --> 0:06:38.801 Yeah. 0:06:38.841 --> 0:06:43.801 I think disclosure regulations have changed, certainly, the regulations around 0:06:43.921 --> 0:06:46.921 how advisors need to be qualified, what they need to 0:06:46.961 --> 0:06:52.121 tell their clients, everything that they need to disclose has changed, 0:06:52.761 --> 0:06:56.481 always more room for improvement. And I also think one 0:06:56.481 --> 0:06:59.441 of the burgest things that's changed throughout my career is 0:06:59.481 --> 0:07:03.601 that people didn't care about the stock market. I used 0:07:03.601 --> 0:07:06.081 to go on the television every morning talking about how 0:07:06.441 --> 0:07:08.801 you know, the Nxaics top fifty did this and the 0:07:08.841 --> 0:07:11.481 foot seat did that, and people were like, oh, yawn, 0:07:11.521 --> 0:07:17.281 when's this lady going to finish? But people care now 0:07:17.321 --> 0:07:19.401 because there is a whole generation of people who do 0:07:19.441 --> 0:07:23.521 not remember nineteen eighty seven, and they're also worried that 0:07:23.601 --> 0:07:26.001 they're not going to get onto the property market. So 0:07:26.041 --> 0:07:28.921 how do you make your money grow? And yeah, there's 0:07:29.041 --> 0:07:33.081 actually a really exciting cohort coming through who care and 0:07:33.281 --> 0:07:38.201 are interested in upskilling. And you know, maybe if television 0:07:38.281 --> 0:07:40.281 was in a different place right now, there would be 0:07:40.321 --> 0:07:42.241 a brilliant business show. 0:07:43.281 --> 0:07:45.761 Yeah, it's interesting. I do remember the crash because I 0:07:45.761 --> 0:07:47.681 had as a kid, had some shares which had been 0:07:47.761 --> 0:07:49.601 I've had a few hundred bucks given to me, and 0:07:49.641 --> 0:07:52.281 I had Briley shares and I just kept on taking 0:07:52.361 --> 0:07:56.081 up every cash offer as a teenager, and I actually 0:07:56.081 --> 0:07:58.761 had quite a whack in Briley's. And I thought, and 0:07:58.801 --> 0:08:00.281 I remember saying to my mum, what I should I 0:08:00.281 --> 0:08:02.161 think I should sell these. They've gone up quite a lot. 0:08:02.321 --> 0:08:06.361 He says, no, they'd be right. That didn't play out 0:08:06.361 --> 0:08:06.801 too well. 0:08:07.401 --> 0:08:10.361 But probably my other big lesson and money was in 0:08:10.401 --> 0:08:13.761 the early days of zero, I with my flatmate at 0:08:13.761 --> 0:08:16.241 the time, bought shares. I think we brought about ten 0:08:16.281 --> 0:08:19.361 thousand dollars worth the shares to get at two dollars fifty. 0:08:19.161 --> 0:08:21.681 As a flat mate. That's a that's a very nerdy 0:08:21.761 --> 0:08:24.881 financial as a flat isn't it. 0:08:24.961 --> 0:08:27.361 He was a real, he's a real He's still a 0:08:27.401 --> 0:08:28.961 very good friend of mine, and he's a roll. The 0:08:29.001 --> 0:08:31.161 dice gambler kind of guy, and so he was like, 0:08:31.281 --> 0:08:33.521 let's get in, let's get in, and I was like, oh, 0:08:33.841 --> 0:08:36.401 I'm definitely a lot more risk averse. So we put 0:08:36.401 --> 0:08:40.801 our money in, and we doubled our money, and we 0:08:40.881 --> 0:08:45.201 sold them at five dollars and wow. I later worked 0:08:45.241 --> 0:08:47.001 out what we would have ended up with if we'd 0:08:47.041 --> 0:08:49.841 held on for the ride on the insid X, and 0:08:50.041 --> 0:08:52.361 I was like, wow, my mortgage would have been a 0:08:52.401 --> 0:08:55.441 lot smaller. But we took another bite at the cherry 0:08:55.441 --> 0:08:58.121 some years later and we bought beck In before they 0:08:58.161 --> 0:09:01.081 delisted from the insid X because we thought they'd got 0:09:01.361 --> 0:09:06.281 stock zero O zero was like once in a generation 0:09:06.521 --> 0:09:09.801 kind of trajectory. It listed at a dollar. I think 0:09:10.121 --> 0:09:12.401 it might have delisted on the New Zealand Stock Exchange 0:09:12.441 --> 0:09:15.041 somewhere in the forties, and then in Australia it went 0:09:15.081 --> 0:09:16.521 to one hundred or something. 0:09:16.641 --> 0:09:19.521 So yeah, I think it's always easy to look at 0:09:19.521 --> 0:09:21.601 those journeys though, because people would look at and in fact, 0:09:21.601 --> 0:09:24.641 I've talked about this when until the Deep Sect thing 0:09:24.681 --> 0:09:28.321 popped out about the n video price and everyone imagines, 0:09:28.321 --> 0:09:30.321 so imagine if you'd bought in video when they were 0:09:30.361 --> 0:09:32.441 just a couple of bucks a share, but how many 0:09:32.441 --> 0:09:35.721 people would have necessarily held them and held them and 0:09:35.761 --> 0:09:38.321 held them until the very peak. But nobody does that. 0:09:38.761 --> 0:09:40.561 What people do, I guess funds do. 0:09:40.801 --> 0:09:44.641 Really lots of people who believe in bitcoin have held 0:09:44.681 --> 0:09:47.841 on through some tough times, and you know they've ridden 0:09:47.881 --> 0:09:50.921 a real roller coaster. But I think too many of 0:09:51.001 --> 0:09:55.281 us focus on trying to a pick the market and 0:09:56.401 --> 0:10:00.721 be not necessarily focused on what your situation can handle 0:10:00.801 --> 0:10:02.441 in terms of the tolerance of it. I heard of 0:10:02.441 --> 0:10:05.761 somebody the other day trying to sell a tiree of 0:10:05.841 --> 0:10:09.761 seventeen seventy and seventy five into bitcoin, and I thought, 0:10:10.401 --> 0:10:11.681 please don't listen to that person. 0:10:12.001 --> 0:10:14.481 Yeah, and I just like to think I bought bitcoin 0:10:14.601 --> 0:10:16.401 and stuck a hundred bucks of bitcoin and when they 0:10:16.441 --> 0:10:19.081 are about ten cents, But of course nobody does that. Well, 0:10:19.121 --> 0:10:21.081 somebody has, and somebody's very happy, but it's a bit 0:10:21.161 --> 0:10:21.761 lottery sort of. 0:10:21.761 --> 0:10:23.481 Well, and then you could be like the guy who 0:10:24.201 --> 0:10:29.001 lost his access code and he would literally be I 0:10:29.041 --> 0:10:32.241 think a billionaire, if not many hundreds of millions, and 0:10:32.281 --> 0:10:34.081 it's gone to the tip and he's tried to go 0:10:34.121 --> 0:10:37.041 to the council to say let's, you know, excavate this 0:10:37.241 --> 0:10:40.081 and try and find, you know, my millions of dollars. 0:10:40.121 --> 0:10:42.841 I'll pay for it. I'll pay for it. But unfortunately, 0:10:42.921 --> 0:10:44.721 I think that will be the regret of his life. 0:10:44.801 --> 0:10:46.121 Because one of the things we want to talk about 0:10:46.121 --> 0:10:48.161 today is the reason I was asking about you earlier questions, 0:10:48.241 --> 0:10:52.201 is that there are some easy ways where you can 0:10:52.241 --> 0:10:56.921 improve your finances without actually having to be a financial whiz. 0:10:56.961 --> 0:10:59.681 Have you are? There are there some easy ways where 0:10:59.681 --> 0:11:02.321 people can I'm not sure is it avoiding waste? What 0:11:02.721 --> 0:11:04.841 are some of the simpler lessons where people can improve 0:11:04.841 --> 0:11:05.561 there out look on? 0:11:05.841 --> 0:11:08.801 I think approach that so many people take to finances 0:11:09.081 --> 0:11:12.081 is they're like, what's the big thing I should invest in? 0:11:12.401 --> 0:11:15.641 And sometimes the thing you should invest in is actually 0:11:15.721 --> 0:11:18.921 a little bit more awareness, some better systems and yourself. 0:11:19.841 --> 0:11:23.681 What's in't it? Is this something that you've learned personally 0:11:24.241 --> 0:11:25.121 or from observation? 0:11:25.961 --> 0:11:26.281 Both? 0:11:26.521 --> 0:11:26.921 Yeah? 0:11:27.001 --> 0:11:30.321 Both. I've had clients that you know, don't think they 0:11:30.401 --> 0:11:32.641 spend very much, and sometimes they'll actually tell you that 0:11:32.681 --> 0:11:35.281 they're very frugal compared to their friends, and when you 0:11:35.321 --> 0:11:40.761 look into the nitty gritty, oh, you know that they're 0:11:40.761 --> 0:11:44.601 not frugal. But it's not because their profligate spenders. It's 0:11:44.641 --> 0:11:48.441 that there's just a lack of awareness about what is 0:11:48.481 --> 0:11:50.401 actually going out the door and what it's going on. 0:11:50.921 --> 0:11:53.401 Is that often when people have they they probably have 0:11:53.441 --> 0:11:56.521 a frugal attitude to certain aspects of their spending. So 0:11:56.561 --> 0:11:58.681 they think, look, I've had a look at the mortgage, 0:11:58.761 --> 0:12:00.401 and then we're going to do this, and we're going 0:12:00.441 --> 0:12:03.201 to and when it comes to our shopping, our weekly shop, 0:12:03.441 --> 0:12:06.201 let's try and stick to this budget. And then in 0:12:06.241 --> 0:12:11.601 the next breath they're paying for I don't know, a 0:12:11.681 --> 0:12:15.361 session at the local sort of spa where it's three 0:12:15.481 --> 0:12:17.001 hundred dollars for a couple of hours I don't know, 0:12:17.441 --> 0:12:17.881 sort of stuff. 0:12:18.041 --> 0:12:20.961 That's about prioritizing the things that actually make you happy, 0:12:21.041 --> 0:12:24.201 Like I'm all for the going down to the spa 0:12:24.281 --> 0:12:28.721 and spatial if you have provision for it and then 0:12:28.721 --> 0:12:30.761 you can enjoy it without guilt. And that's where I 0:12:30.761 --> 0:12:34.681 think people confuse a budget being about restriction, when it 0:12:34.761 --> 0:12:38.801 is actually about freedom knowing you can do something and 0:12:38.801 --> 0:12:41.681 that you will still achieve your goals, rather than being like, oh, 0:12:41.721 --> 0:12:43.601 it shouldn't have done that. It's going to thwart my 0:12:43.641 --> 0:12:46.001 financial progress. But do you know what, the shopping one 0:12:46.481 --> 0:12:50.681 is huge. So many people are eating and drinking their surplus. 0:12:52.281 --> 0:12:54.841 That actually doesn't surprise any That shouldn't surprise anyone really, 0:12:54.841 --> 0:12:57.321 because we love our cafes and we do love our 0:12:57.401 --> 0:13:00.561 lattess what we're talking about us. 0:13:00.601 --> 0:13:03.441 I think that it's that because it's just little and 0:13:03.481 --> 0:13:06.521 often and so you well, what's five bucks here or 0:13:06.561 --> 0:13:08.681 actually probably a late costs you more than that, now 0:13:08.721 --> 0:13:12.521 seven bucks here. But at the same time, I think 0:13:12.561 --> 0:13:14.961 we are also buying things, putting them in our fridge 0:13:15.001 --> 0:13:17.401 and then throwing them out a week later. Yeah, there's 0:13:17.401 --> 0:13:21.081 a lot that is spent on literal waste and could 0:13:21.121 --> 0:13:23.841 be avoided, which would be to the benefit of everybody. 0:13:23.881 --> 0:13:25.441 Really, what are some what are the some of the 0:13:25.481 --> 0:13:29.561 examples that you've seen yourself. If somebody was to talk 0:13:29.601 --> 0:13:32.041 about how do I want to improve misspending and my 0:13:32.201 --> 0:13:34.721 savings and things, would there be a particular part of 0:13:34.761 --> 0:13:36.521 their life that you would go, well, okay, I think 0:13:36.561 --> 0:13:38.841 we're going to mind this part of your life first, 0:13:38.881 --> 0:13:40.881 and you know you're going to come up with some gold. 0:13:42.001 --> 0:13:44.561 The food and drink would be top of the list. 0:13:44.641 --> 0:13:46.521 And I know it sounds really simple, but I just 0:13:46.561 --> 0:13:48.721 see it day and day out. I think the worst 0:13:48.721 --> 0:13:53.801 I've seen is maybe about forty thousand more than that 0:13:53.921 --> 0:13:57.361 they intended to spend on eating and drinking and going out. 0:13:58.001 --> 0:14:01.281 So that's not the budget, that's the excess a year. 0:14:01.681 --> 0:14:04.601 In a year, Yeah, that sounds. 0:14:04.361 --> 0:14:08.441 Like you'd have to really try to spend that a 0:14:08.481 --> 0:14:09.681 couple of nice bottles of wine. 0:14:09.721 --> 0:14:13.321 You're there, Well, I guess if you love socializing and 0:14:13.361 --> 0:14:15.081 you live in an area where there are lots of 0:14:15.441 --> 0:14:18.281 opportunities to go out and have a really nice meal 0:14:18.601 --> 0:14:22.201 and drink some really nice wine, it very quickly adds up. 0:14:22.761 --> 0:14:24.841 But there are plenty of other areas what we spend 0:14:24.881 --> 0:14:28.801 on interest. Sometimes that's people who have savings in the 0:14:28.841 --> 0:14:31.641 bank and a mortgage or savings and short term debt, 0:14:31.801 --> 0:14:34.521 and it's almost like they are lending the bank their 0:14:34.601 --> 0:14:37.121 money on one hand and borrowing it back from them 0:14:37.161 --> 0:14:39.961 at a higher rate on the other, which makes zero sense. 0:14:40.001 --> 0:14:41.961 And that's a structural thing that doesn't actually make you 0:14:42.001 --> 0:14:45.561 feel any happier. But they just need to feel safe 0:14:45.961 --> 0:14:48.721 in putting that money against the debt or putting that 0:14:48.801 --> 0:14:54.441 money against the mortgage insurance. Because we don't like reviewing 0:14:54.481 --> 0:14:57.121 it because it's complicated and it's a bit boring. And 0:14:57.201 --> 0:15:00.521 so you know, I've seen people, in fact, one guy 0:15:00.761 --> 0:15:05.521 who had I think he had two life insurance policies 0:15:05.521 --> 0:15:07.481 and he had no debt and no dependence, and I 0:15:07.521 --> 0:15:10.281 was like, what, why are we spending this money? Who's 0:15:10.281 --> 0:15:13.001 getting this money if you die? Because it's certainly not you. 0:15:14.201 --> 0:15:18.201 And so it's not that insurance isn't important. It absolutely is, 0:15:18.681 --> 0:15:20.881 But it's about having the right level of cover for 0:15:20.921 --> 0:15:22.761 the right price, for the right length of time. 0:15:23.041 --> 0:15:24.721 So you've got a piece in the hairld. You've written 0:15:25.681 --> 0:15:28.961 one of your columns, you've written Mastering Money, Habits, financial progress. 0:15:29.001 --> 0:15:33.001 The lazy way, Okay, what are the What are the 0:15:33.081 --> 0:15:35.521 lazy ways that you can make progress? 0:15:36.401 --> 0:15:41.641 Automate? Just automate, that's one of them, because it doesn't 0:15:41.681 --> 0:15:44.001 rely on you remembering to do it. It doesn't rely 0:15:44.081 --> 0:15:46.881 on you bothering to do it. And those are two 0:15:46.881 --> 0:15:48.001 of the things that get in the way. 0:15:48.081 --> 0:15:48.241 Right. 0:15:48.241 --> 0:15:52.321 We're busy, we you know, there's kids, there's washing to do, 0:15:52.441 --> 0:15:56.401 there's shopping to do. So if you can automate what 0:15:56.481 --> 0:15:59.121 goes into your savings, or you can automate that all 0:15:59.161 --> 0:16:01.601 the bills get paid on time because you know exactly 0:16:01.641 --> 0:16:04.241 what they add up to, and there's a you know, 0:16:04.361 --> 0:16:06.481 a ring fence around that, so there's always enough that 0:16:06.521 --> 0:16:09.241 those bills get paid. One of the other one that 0:16:09.681 --> 0:16:11.681 other ones that a lot of people don't know is 0:16:11.721 --> 0:16:14.961 that some bills, if you pay them annually instead of 0:16:15.001 --> 0:16:18.081 choosing to pay them monthly or quarterly, they'll actually cost 0:16:18.161 --> 0:16:22.001 you less. So, for example, some insurances, you might get 0:16:22.001 --> 0:16:26.321 a five percent discount if you pay it there might 0:16:26.361 --> 0:16:29.561 even be more than that instead of paying it monthly. 0:16:29.681 --> 0:16:31.041 Obviously you have to have the money. 0:16:31.481 --> 0:16:34.161 All that. I thank you. In fact, I think I 0:16:34.201 --> 0:16:36.201 know through my I'm sure. I'm pretty sure at one 0:16:36.201 --> 0:16:38.681 stage when things were tight, we went to a monthly 0:16:38.761 --> 0:16:40.761 thing because I just didn't like the idea of forking 0:16:40.801 --> 0:16:42.001 out at all in one. 0:16:41.921 --> 0:16:46.281 Shebang, which I completely understand. But I'm willing to do 0:16:46.321 --> 0:16:48.121 it if there's the right incentive to do it. 0:16:48.361 --> 0:16:51.361 Yeah, we'd like for your calls on this actually to 0:16:51.401 --> 0:16:53.601 share your experiences. What are the easy ways that you 0:16:53.681 --> 0:16:55.601 have also saved money as well. We're going to dig 0:16:55.641 --> 0:16:58.601 into this more with Nadine. By the way, our guest, 0:16:58.681 --> 0:17:01.761 if you have just joined us. Her voice may sound familiar. 0:17:01.841 --> 0:17:05.841 Is Nadine HEATONI, oh gosh, sorry, it's not Nat It's 0:17:05.961 --> 0:17:09.601 Nadine Higgins from enable Me. We love your cause. What 0:17:09.601 --> 0:17:12.801 are the easy ways that you have actually I don't 0:17:12.801 --> 0:17:15.881 want to use where's like transformed your finances? Corset sounds 0:17:15.881 --> 0:17:18.241 a bit high for lutin and life changing? But what 0:17:18.281 --> 0:17:21.241 are the small things that you've done easily which have 0:17:21.321 --> 0:17:23.401 made a difference. But if you'd like to pick Nadine's 0:17:23.601 --> 0:17:25.441 brains on this stuff as well. She is a financial 0:17:25.481 --> 0:17:28.201 advisor and coach from enable me and she's with us now. 0:17:28.201 --> 0:17:30.361 You can give us a call. Oh eight hundred eighty 0:17:30.401 --> 0:17:33.761 ten eighty text nine two nine two. You can email, 0:17:33.801 --> 0:17:35.761 but that's not the quickest way. Jump on the blower. 0:17:35.801 --> 0:17:37.481 We'll be back in just a moment. It's twenty four 0:17:37.521 --> 0:17:38.721 past five Newstalks. 0:17:38.721 --> 0:18:01.081 He'd body and Jesus so long and be right to 0:18:01.201 --> 0:18:08.921 feel long and be with you Instead, there's something. 0:18:12.081 --> 0:18:13.761 And so Welcome back to the Weekend Collective. This is 0:18:13.761 --> 0:18:15.281 a smart money. We have a new guest on the show, 0:18:15.401 --> 0:18:18.161 Nadine Higgins from enable Me. She as a financial advisor 0:18:18.201 --> 0:18:20.481 and coach. We're talking about what are the easiest ways 0:18:20.521 --> 0:18:24.521 to just make a difference to your financial what what 0:18:25.161 --> 0:18:27.761 to just your money to the money that's coming in, 0:18:27.801 --> 0:18:31.801 you're saving your financial prospects trajectory. There we go. That's 0:18:31.881 --> 0:18:35.921 that's that sounds like a high flutin I mean, what 0:18:36.001 --> 0:18:39.481 are the simple What are the simple things that if 0:18:39.481 --> 0:18:41.921 people are listening now and they're thinking, oh, you know, 0:18:41.961 --> 0:18:44.081 I'm always putting this in the back burner, and okay, 0:18:44.081 --> 0:18:46.161 I've heard about the insurance. What are a couple of 0:18:46.201 --> 0:18:48.761 things that you would say for someone who's listening just 0:18:48.761 --> 0:18:50.841 to have a look at that might make an instant 0:18:50.841 --> 0:18:55.321 difference just to their financial well being, simply by a 0:18:55.321 --> 0:18:56.521 few simple decisions. 0:18:57.641 --> 0:19:00.121 Have one account that you spend everything you eat and 0:19:00.201 --> 0:19:02.961 drink out of and and only top it up once 0:19:02.961 --> 0:19:06.001 a week once it's gone. You eating what's in the 0:19:06.041 --> 0:19:10.401 pantry all which you know sometimes might be a weird meal, 0:19:12.041 --> 0:19:15.041 But honestly, that means that it alerts you when you're 0:19:15.041 --> 0:19:20.881 about to overspend, and it makes it more difficult to overspend. 0:19:21.321 --> 0:19:23.921 And I think that's one of the hacks, is that 0:19:24.081 --> 0:19:27.201 if we're trying to change our behaviors, because our behaviors 0:19:27.201 --> 0:19:30.161 become our habits, which actually become what we're on track 0:19:30.201 --> 0:19:32.361 to achieve long term, the things we do day to day, 0:19:32.361 --> 0:19:37.201 week to week, months to month. Then I think that 0:19:38.401 --> 0:19:40.161 I completely lost my train of thought. That can I 0:19:40.361 --> 0:19:40.721 blame the. 0:19:40.721 --> 0:19:44.601 Baby, Absolutely can blame what? No, No, the simple things 0:19:44.601 --> 0:19:47.201 that we can do to change our financial prospects and trajectory, 0:19:47.361 --> 0:19:47.961 that's your word. 0:19:48.721 --> 0:19:51.521 Yeah, it's probably too high fluting the direction we're heading 0:19:51.521 --> 0:19:53.961 an URI on track to achieve our goals or not. 0:19:54.081 --> 0:19:57.961 So if you want to make something happen, make it easy, 0:19:58.601 --> 0:20:01.361 make it something that you can see. And if you 0:20:01.401 --> 0:20:04.881 want to stop doing something, I guess the inverse would apply, right, 0:20:05.161 --> 0:20:08.041 make it hard and you take it out of your eyesight. 0:20:08.241 --> 0:20:12.321 So one option is you what I would never save 0:20:12.401 --> 0:20:14.881 my credit card into an internet browser. Makes it way 0:20:14.921 --> 0:20:16.761 too easy to head to the checkout when you've been 0:20:16.801 --> 0:20:20.161 served up some ad on social media and you're like, oh, excellent, 0:20:20.481 --> 0:20:23.361 add to cart and we're off and it's being delivered 0:20:23.361 --> 0:20:26.201 in two days time, So if you instead have to 0:20:26.201 --> 0:20:29.241 get up and go to the other room, or one 0:20:29.321 --> 0:20:31.441 suggestion one of my colleagues made was that we put 0:20:31.481 --> 0:20:33.721 the credit card in the freezer, so you're literally putting 0:20:33.761 --> 0:20:38.481 your spending on ice Ah. Then sometimes that is just 0:20:38.801 --> 0:20:42.961 enough friction that it stops you and gives you pause. 0:20:43.521 --> 0:20:46.201 And similarly, if you're at in the shops, we've all 0:20:46.241 --> 0:20:49.921