WEBVTT - Lisa Dudson: Dealing with financial stress 0:00:05.801 --> 0:00:09.921 You're listening to the Weekend Collective podcast from News Talks EDB. 0:00:37.481 --> 0:00:40.681 And welcome back to the Weekend Collective. I'm Tim Beverage. 0:00:40.681 --> 0:00:43.681 By the way, gosh, a couple of fantastic hours, No 0:00:43.721 --> 0:00:47.401 pressure on my next guest. We had a great interesting 0:00:47.401 --> 0:00:51.761 interview on politics with Lockwoodsmith just around the UK election, 0:00:51.801 --> 0:00:53.601 but also if he had an interesting take on First 0:00:53.601 --> 0:00:55.921 Past the Post and a certain nostalgia for it which 0:00:56.361 --> 0:00:58.441 was kind of irresistible the way he described it. But anyway, 0:00:58.481 --> 0:01:01.081 you can go and check that out. Go and look 0:01:01.121 --> 0:01:04.601 for the Weekend Collective on iHeartRadio. All the show's packaged 0:01:04.641 --> 0:01:07.041 up into any little package, and the last hour talking 0:01:07.041 --> 0:01:10.601 about the benefits of lifting heavy weights when it comes 0:01:10.641 --> 0:01:16.601 to defeating or fending off osteoporosis, and a fascinating discussion 0:01:16.641 --> 0:01:21.321 with with Greg Pain from BioSport dot in dot codd 0:01:21.401 --> 0:01:23.521 en Zen. But right now it's smart money and my 0:01:23.561 --> 0:01:26.041 guest is while she's written a few books, she's a 0:01:26.081 --> 0:01:28.401 personal wealth educator from Acumen. 0:01:28.521 --> 0:01:31.241 And it is Lisa Dudson, Lisa High, how are you. 0:01:31.361 --> 0:01:32.641 I'm very good, Thank you, Bonip. 0:01:33.081 --> 0:01:38.961 It is well one would hope, so I guess yeah, 0:01:39.201 --> 0:01:40.641 you are you? A winter person. 0:01:41.641 --> 0:01:44.081 Not really. I mean I've just come back. I've you know, 0:01:44.241 --> 0:01:45.881 obviously you read to get the violins out, but I've 0:01:45.881 --> 0:01:47.721 just come back from six weeks in Greece and Turkey, 0:01:47.761 --> 0:01:51.001 so you know, the whole winter things a little bit 0:01:51.001 --> 0:01:51.601 more jealousy. 0:01:52.921 --> 0:01:55.601 I just feel a bit a bit hot, a bit 0:01:55.681 --> 0:01:58.081 cold here, just because I've been in Greece. You know, 0:01:58.161 --> 0:01:59.041 it's all sunny and hot. 0:01:59.121 --> 0:01:59.881 I've got a maide of mind. 0:01:59.921 --> 0:02:02.241 He's just been. He's in Greece right now and sending 0:02:02.241 --> 0:02:06.281 me photos and that all looks so it does. I mean, 0:02:06.321 --> 0:02:08.521 obviously people make sure they send you the best pecks, 0:02:08.561 --> 0:02:11.001 but man, it does look gorgeous in that water and everything. 0:02:11.441 --> 0:02:11.641 Yeah. 0:02:11.681 --> 0:02:13.321 I have to say though, the water when we're in 0:02:13.321 --> 0:02:16.321 Greece was pretty chilly. The water in Turkey was nice. 0:02:16.321 --> 0:02:18.601 But you know, you know, we loved being away, but 0:02:18.681 --> 0:02:20.521 also we came home, we thought, and you know, it's 0:02:20.561 --> 0:02:21.841 pretty hard to beat in New Zealand. 0:02:22.201 --> 0:02:24.481 Oh nice to be home then, yeah, good on you, 0:02:24.641 --> 0:02:25.121 Yeah and. 0:02:25.121 --> 0:02:27.601 Really nice, you know. I mean, it's nice scenery overseas, 0:02:27.601 --> 0:02:30.121 but I think a lot of people don't look after 0:02:30.121 --> 0:02:31.761 the country quite as well as maybe what we do 0:02:31.801 --> 0:02:33.521 in New Zealand. So that's a nice thing about being 0:02:34.121 --> 0:02:34.521 back home. 0:02:34.641 --> 0:02:34.841 You know. 0:02:34.881 --> 0:02:37.001 The other thing you've been if you've been traveling there, 0:02:37.001 --> 0:02:40.281 you've been almost at the peak of sort of summer type. 0:02:40.441 --> 0:02:43.081 Well not the peak, but it's fairly hot. Lots of 0:02:43.081 --> 0:02:44.401 tourists and. 0:02:44.601 --> 0:02:47.041 I always think that the Yeah, I like. 0:02:47.001 --> 0:02:49.401 To travel on sort of off season now because the 0:02:49.481 --> 0:02:51.801 crowds and some of these you know, you see photos 0:02:51.841 --> 0:02:53.521 of the Trevy Fountain or something, but you see the 0:02:53.521 --> 0:02:57.321 reality versus the brochure, and it's like, you know, I 0:02:57.321 --> 0:02:59.121 think they had to close the Trevy Fountain or something. 0:02:59.161 --> 0:03:00.521 I'm thinking of a different country obviously. 0:03:00.641 --> 0:03:03.761 Bit yeah, I mean honestly that we were in Greecelan 0:03:03.921 --> 0:03:07.001 Pantheon at the beginning of May and we were shuffling 0:03:07.561 --> 0:03:11.681 with that people, right, yeah, so crazy busy. 0:03:11.521 --> 0:03:14.801 Anyway, Well, nice to have in the studio. Do we 0:03:14.801 --> 0:03:16.081 need to adjust their conditioning for you? 0:03:16.161 --> 0:03:18.241 I don't know, it's got to ask it out of 0:03:18.281 --> 0:03:18.881 it out of the heat. 0:03:19.161 --> 0:03:20.841 Can you set it to grease temperature please? 0:03:20.881 --> 0:03:21.161 I don't know. 0:03:21.201 --> 0:03:24.441 A nice twenty eight actually I think we were up 0:03:24.481 --> 0:03:27.721 to thirty nine. Oh no, that wasn't so pleasant. 0:03:27.721 --> 0:03:29.441 But I'm a winter guy. I like to be able 0:03:29.441 --> 0:03:31.961 to just dress for the cold. But anyway, enough of 0:03:31.961 --> 0:03:36.761 that now. Actually just sort of leading into the topic, 0:03:37.321 --> 0:03:40.961 what was it like being away? And you obviously as 0:03:41.001 --> 0:03:43.201 a tourist, you've sort of got your roast tinted glasses 0:03:43.201 --> 0:03:44.721 on a little bit from time to time. What was 0:03:44.761 --> 0:03:46.881 it like coming back to New Zealand Because we are 0:03:46.921 --> 0:03:48.441 pretty down on ourselves right now. 0:03:49.081 --> 0:03:50.881 Yeah, and look at there is a little bit of 0:03:50.921 --> 0:03:52.721 that sentimental all around the world. I think, you know, 0:03:52.801 --> 0:03:55.441 everyone in Greece and Turkey was talking about the fact that, 0:03:55.521 --> 0:03:57.641 you know, the cost of living. I mean Turkey in 0:03:57.681 --> 0:04:01.441 particular has had phenomenal inflation and I was actually surprised 0:04:01.441 --> 0:04:05.561 to how expense for everything was in Turkey. So, you know, 0:04:05.641 --> 0:04:09.561 I think we've we're not on our own talking about 0:04:10.401 --> 0:04:12.121 how tough it is out there at the moment, and 0:04:12.201 --> 0:04:14.001 that was a common thing that everyone was talking about 0:04:14.001 --> 0:04:14.561 while we're away. 0:04:14.761 --> 0:04:17.761 It's interesting because I've spoken to people in Australia and 0:04:17.801 --> 0:04:20.761 a lot of the lot of the well, the zeitgeist 0:04:20.761 --> 0:04:22.481 in New Zealand as everyone's going on, it's so great 0:04:22.881 --> 0:04:25.201 in Australia and everyone's leaving, and yet when you speak 0:04:25.201 --> 0:04:27.521 to people who have been living in Australia, they complain 0:04:27.601 --> 0:04:29.561 of the same things that we're winging about as well. 0:04:29.561 --> 0:04:32.521 It's funny, isn't it that we have this gilded sort 0:04:32.521 --> 0:04:36.121 of image of everywhere else, but to hear someone in Australia, oh, mate, 0:04:36.161 --> 0:04:38.481 the cost of living has gone up and the interest 0:04:38.521 --> 0:04:40.401 rates and et cetera, et cetera, et cetera, And I 0:04:40.441 --> 0:04:42.761 was like, oh, it's almost a relief. 0:04:43.841 --> 0:04:45.761 And I think also too, human beings always tend to 0:04:45.761 --> 0:04:47.441 think the grass is greener on the other side, and 0:04:47.481 --> 0:04:49.361 invariably it's not. And you know, that was the thing 0:04:49.361 --> 0:04:51.761 we love to be in overseas, but we're also super 0:04:51.841 --> 0:04:53.601 glad to be home as well, because there's lots of 0:04:53.641 --> 0:04:55.041 great things about being in New Zealand. 0:04:55.281 --> 0:04:59.761 Oh that is that's surprisingly refreshing to hear that, Lisa, 0:04:59.841 --> 0:05:02.281 good on you. But now look while we're talking about 0:05:02.281 --> 0:05:05.561 it though, because at the moment, I mean, where there's 0:05:05.721 --> 0:05:07.921 conversations not that we're going to be talking about so 0:05:07.961 --> 0:05:09.841 much about the property market, but one of the things 0:05:09.841 --> 0:05:13.681 that we're chatting yesterday with Kelvin Davidson from the from 0:05:13.721 --> 0:05:19.201 Core Logic about how the saggy economy is you know, 0:05:19.761 --> 0:05:22.041 the effect on the property market, but the word saggi 0:05:22.121 --> 0:05:24.481 economy and the fact that there are a lot of 0:05:24.521 --> 0:05:26.161 people who are struggling. 0:05:25.721 --> 0:05:28.281 Because forget tax cuts. 0:05:28.401 --> 0:05:31.681 If Adrian or keeps his cash right up there, that's 0:05:31.841 --> 0:05:34.841 doing a hell of a lot more impact on people's 0:05:34.881 --> 0:05:38.641 lives than any little tax cut can do. And people 0:05:38.641 --> 0:05:39.761 are doing it tough, aren't they. 0:05:39.801 --> 0:05:42.041 Oh? Look absolutely, I mean there's no question. It's just 0:05:42.081 --> 0:05:44.361 about everyone you talk to is doing it tough in 0:05:44.401 --> 0:05:47.641 some shape or form. You know, what, did I read 0:05:47.641 --> 0:05:50.921 the other five hundred thousand, almost five hundred thousand Kiwis 0:05:50.961 --> 0:05:54.001 are behind in some kind of debt repayment? 0:05:54.081 --> 0:05:55.841 Yeah it was I think, Yeah, it was just under 0:05:55.841 --> 0:05:59.241 five hundred thousand people who've defilt they had defaulted on 0:05:59.281 --> 0:06:00.121 some debt arrangement. 0:06:00.201 --> 0:06:03.161 Yeah, so that's that's really significant. And that's whether it's 0:06:03.161 --> 0:06:05.001 your credit card, or whether it's your more good or 0:06:05.201 --> 0:06:08.001 car payments or business loans, you know, could be a 0:06:08.281 --> 0:06:10.481 whole range of things. So I don't know how that compares. 0:06:10.521 --> 0:06:12.121 I mean, it is high. I don't know how much 0:06:12.201 --> 0:06:14.681 higher statistically it was from last year though. 0:06:15.161 --> 0:06:16.641 But you know how they measure that would have been? 0:06:17.281 --> 0:06:18.921 How would they get the data on that. Would they 0:06:19.361 --> 0:06:21.441 would they get data from for instance, I mean like 0:06:21.481 --> 0:06:23.201 your water care bill, if you have missed the payment, 0:06:23.241 --> 0:06:25.561 would you suddenly go bing wow? 0:06:25.641 --> 0:06:27.641 And then that's the thing. They probably do some surveys 0:06:27.641 --> 0:06:29.521 and then makes a bunch of assumptions, I would imagine, 0:06:29.521 --> 0:06:31.761 because it would be quite hard to get that really 0:06:31.841 --> 0:06:34.361 accurate data, I would think, But it would be if 0:06:34.361 --> 0:06:35.601 you missed a utility payment. 0:06:36.041 --> 0:06:37.681 I missed them all the time, only because I'm so 0:06:37.841 --> 0:06:40.601 like disorganized. Well, it's not the biggest bill you get. 0:06:41.041 --> 0:06:43.601 And I do pay attention to my credit card bill 0:06:43.881 --> 0:06:46.561 because that's the one where hello, twenty eight percent or 0:06:46.601 --> 0:06:49.241 whatever if you don't pay it twenty yeah. 0:06:49.281 --> 0:06:51.241 But the utilities, though, if you don't pay it on time, 0:06:51.521 --> 0:06:53.441 you're often paid a ten percent penalty on it. 0:06:53.681 --> 0:06:55.681 I think I got a four dollar penalty at one stage, 0:06:55.681 --> 0:06:57.561 So I was like, that's not very you know, but 0:06:58.601 --> 0:07:01.601 it's actually you know what, let's not get distracted by that. 0:07:01.641 --> 0:07:08.721 But the thing is financial stress is I think one 0:07:08.721 --> 0:07:10.801 of the if not the top of the list for 0:07:10.881 --> 0:07:13.761 the most debilitating thing that can affect Okay, I know 0:07:13.801 --> 0:07:16.481 there are people who will have health issues and stuff 0:07:16.521 --> 0:07:19.241 that can be also very stressful, but in terms of 0:07:19.961 --> 0:07:22.561 it's a very common ailment. Oh, you got to have 0:07:22.601 --> 0:07:27.441 financial stress, and how to deal with that when the 0:07:27.481 --> 0:07:33.241 solution financially is not always immediately apparent. I mean, you've 0:07:33.241 --> 0:07:36.401 written books about money and finance and things like that. 0:07:36.601 --> 0:07:40.281 I mean, what are your sort of observations on the 0:07:40.281 --> 0:07:42.281 best ways to deal with it when you really are 0:07:42.281 --> 0:07:45.081 just thinking, gosh, I'm just sweating from week to week. 0:07:45.161 --> 0:07:46.921 Well, yeah, And I guess there is two pop components 0:07:46.961 --> 0:07:49.721 that one is the mental head space around it and 0:07:49.761 --> 0:07:51.561 that sort of financial stress, and then there's also the 0:07:51.561 --> 0:07:54.441 practical side of financial stress. So we look at it 0:07:54.441 --> 0:07:58.161 more from the mental perspective. I guess it's just trying 0:07:58.201 --> 0:08:03.681 not to let it overwhelm you and recognizing that you 0:08:03.761 --> 0:08:06.281 are going through some tough time and not beating yourself 0:08:06.361 --> 0:08:08.121 up too much about it, because I think that's one 0:08:08.121 --> 0:08:09.561 of the challenges that a lot of people have is 0:08:09.561 --> 0:08:12.121 they kind of ready give themselves a good kicking about 0:08:12.161 --> 0:08:13.761 the fact that they're in the maybe the meat that 0:08:13.801 --> 0:08:15.721 they are that they're in. But a lot of other people, 0:08:15.761 --> 0:08:18.241 as we've just heard with that statistic, are in a 0:08:18.281 --> 0:08:20.161 bit of a francive pickle as well. So I think 0:08:20.161 --> 0:08:22.921 it's you know, you're not on your own, and it's 0:08:23.001 --> 0:08:24.921 just kind of going, Okay, well, let's just trying to 0:08:24.961 --> 0:08:27.921 work through this, maybe some meditation or mindfulness. 0:08:28.041 --> 0:08:29.721 Because I think that the problem with it is is 0:08:29.761 --> 0:08:33.361 if you're the way it can be so I can't 0:08:33.361 --> 0:08:36.281 think of the word, but it seeps its way into 0:08:36.321 --> 0:08:37.201 other aspects. 0:08:36.841 --> 0:08:37.281 Of your life. 0:08:37.321 --> 0:08:40.681 Absolutely when you're unhappy, So maybe you're you've got less 0:08:40.721 --> 0:08:44.001 patience for your kids and your relationship and your grump 0:08:44.041 --> 0:08:45.761 and things like that, and it just has this and 0:08:46.361 --> 0:08:50.001 you know, I just wonder if if there are any 0:08:50.721 --> 0:08:52.681 what are the best ways? I guess maybe with the 0:08:52.761 --> 0:08:54.521 question we should ask is what is the worst way 0:08:54.521 --> 0:08:56.721 to deal with financial stress? Which is probably to ignore it? 0:08:56.801 --> 0:08:58.721 Yeah, to put your head in the sand. Yeah, absolutely. 0:08:58.841 --> 0:09:00.641 And you know, even if you've got problems with the 0:09:00.641 --> 0:09:02.521 ID for instance, you know the ID, and I've said 0:09:02.521 --> 0:09:04.761 this before on the show, is that they're actually really 0:09:04.801 --> 0:09:07.321 good to deal with if you get in some challenges 0:09:07.321 --> 0:09:09.561 with anything, you with tax debt or i idid it. 0:09:09.841 --> 0:09:11.561 But if you put your head in the sand, then 0:09:11.601 --> 0:09:13.321 they conver the complete opposite. And it's the same with 0:09:13.361 --> 0:09:15.241 payment plans. I've worked with a couple of friends and 0:09:15.281 --> 0:09:18.281 clients over the years who've got themselves behind in payments, 0:09:18.521 --> 0:09:20.721 and if they just go and ignore things, it gets 0:09:20.801 --> 0:09:23.401 really bad. But if you actually contact those people that 0:09:23.441 --> 0:09:25.681 you own money to and say, oh, look, i'm struggling, 0:09:26.081 --> 0:09:27.801 how do we work through a bit of a plan, 0:09:28.241 --> 0:09:32.281 then you might be surprised about how open people are 0:09:32.321 --> 0:09:34.001 to putting a plan together for you. But if you're 0:09:34.041 --> 0:09:35.721 going to go down that path too, though, you need 0:09:35.761 --> 0:09:37.081 to make sure that you do stick to it and 0:09:37.121 --> 0:09:39.841 you communicate. So dealing with things I think does make 0:09:39.881 --> 0:09:40.641 a big difference. 0:09:40.921 --> 0:09:43.601 Yeah, we'd love to hear from you on one hundred 0:09:43.601 --> 0:09:45.281 and eighty ten eighty if you've got any questions for 0:09:45.321 --> 0:09:48.881 Lisa and you, or you're struggling with just the load, 0:09:49.041 --> 0:09:51.921 financial load and how you're going to get ahead. Problem 0:09:51.921 --> 0:09:53.641 shared is a problem halved, as they say. But if 0:09:53.681 --> 0:09:56.561 you're seeking some input and I think actually picking up 0:09:56.601 --> 0:10:00.161 the phone sometimes on shows like this where it's fairly anonymous, 0:10:00.561 --> 0:10:02.681 that sometimes it can be just that first step to 0:10:02.721 --> 0:10:06.281 maybe addressing the problem that's grinding your down. I mean, 0:10:06.321 --> 0:10:08.881 I've been I'm going to it's certainly not about me 0:10:08.921 --> 0:10:11.241 but I've been a singer and a performing artist for 0:10:11.321 --> 0:10:14.081 many years, and let me tell you, you go through a 0:10:14.121 --> 0:10:16.241 lot of financial stress, and probably some of the financial 0:10:16.281 --> 0:10:18.481 stress I feel now it's still an overhang from those 0:10:18.481 --> 0:10:22.961 emotions of you know, when you're not sure exactly where 0:10:23.001 --> 0:10:24.481 the next gig's coming from and how you're going to 0:10:24.521 --> 0:10:25.001 pay for things. 0:10:25.081 --> 0:10:27.161 Well, that's right because you've had an experience that at 0:10:27.161 --> 0:10:29.521 times wasn't necessarily great, and so that you tend to 0:10:29.521 --> 0:10:32.201 reflect back on that experience that wasn't necessarily great. And 0:10:32.601 --> 0:10:35.121 I think you know, when you are facing that stress, 0:10:35.201 --> 0:10:37.521 you know, picking up the phone, talking to a friend, 0:10:37.561 --> 0:10:39.801 talking to a family member, getting it off your chest. 0:10:40.601 --> 0:10:42.921 You know, there's some really great services around New Zealand, 0:10:43.001 --> 0:10:46.281 you know, budget free budgeting advisory services. If you work 0:10:46.361 --> 0:10:48.721 for a large corporate, they've got, you know, an employee 0:10:48.721 --> 0:10:50.721 assistance program that you may be able to tap into 0:10:50.721 --> 0:10:52.521 to get some financial help. So there are a lot 0:10:52.521 --> 0:10:55.081 of resources out there for you. I think it's just 0:10:55.121 --> 0:10:58.001 having that courage to say, look, you know, I am struggling, 0:10:58.161 --> 0:10:59.881 and to kind of own it and recognize it and 0:10:59.961 --> 0:11:01.721 then say, okay, well what can I actually do to 0:11:01.761 --> 0:11:04.241 move forward? And not give yourself a good bit kick 0:11:04.281 --> 0:11:05.441 about it. 0:11:05.121 --> 0:11:06.881 Well, give us a call on eight hundred and eighty 0:11:06.881 --> 0:11:09.161 ten eighty if you've got you may have some advice 0:11:09.201 --> 0:11:10.961 for people who are really struggling. Is if you've been 0:11:11.001 --> 0:11:13.481 through tough times and you look at a lot of 0:11:13.481 --> 0:11:16.681 successful people who and it seems like a trite story 0:11:16.721 --> 0:11:18.521 that a lot of them like to point towards hardship 0:11:18.561 --> 0:11:21.041 in this, but actually it's true a lot of them 0:11:21.081 --> 0:11:24.041 have been through that hardship. And the difference between what 0:11:24.161 --> 0:11:26.281 was the difference between single swimm I don't know what 0:11:26.281 --> 0:11:27.761 it would have been, but we'd love to hear from 0:11:27.761 --> 0:11:29.161 you on eight hundred and eighty ten eighty. 0:11:29.481 --> 0:11:30.441 I would just want to. 0:11:30.321 --> 0:11:36.241 Dig into the the IRD because I've I was pleased 0:11:36.241 --> 0:11:39.241 to hear you mention the IRD and that they're not 0:11:39.281 --> 0:11:41.561 the sort of the bogey man that you know it 0:11:41.641 --> 0:11:44.361 used to be, the sort of the ultimate sort of 0:11:44.481 --> 0:11:49.121 heartless organization. The tax man is coming for you. But they, 0:11:50.081 --> 0:11:54.801 my dealings have been quite surprising over the years in 0:11:54.841 --> 0:11:59.321 that if you, especially if you communicate with them, they 0:11:59.361 --> 0:12:01.641 are my I mean, look, there'll be people who have 0:12:01.681 --> 0:12:04.641 exceptions to it. I thought they're fantastic actually, yeah. 0:12:04.481 --> 0:12:06.641 And I think you know that's you know, my personal 0:12:06.681 --> 0:12:09.081 experience and experience you know, obviously working with people over 0:12:09.121 --> 0:12:11.361 the twenty five years that I have done, is that 0:12:11.481 --> 0:12:16.081 if you communicate politely and fairly, they will do the same. Right, 0:12:16.121 --> 0:12:17.601 But if you're going to give them grief because you're 0:12:17.601 --> 0:12:18.721 going to remember, the person at the end of the 0:12:18.801 --> 0:12:21.001 telephone and customer service is not the person who sets 0:12:21.001 --> 0:12:22.921 the tax rates. So if you've put an issue with 0:12:22.921 --> 0:12:24.881 how much tax you're paying, then obviously you're going to 0:12:24.881 --> 0:12:27.001 have a problem. But you know, if you're just going 0:12:27.401 --> 0:12:29.681 I'm behind in my taxes and I'm really struggling, and 0:12:29.721 --> 0:12:31.721 you're genuine about it, they will you know, they're not 0:12:31.761 --> 0:12:33.041 going to come down on hard, are you, because how 0:12:33.081 --> 0:12:34.321 are they going to get their money if they just 0:12:34.361 --> 0:12:36.641 come down to hard on you. They're going to genuinely 0:12:36.801 --> 0:12:39.201 want to try and put a plan in place to 0:12:39.681 --> 0:12:41.521 pick up their taxes. Right, But then you've got to 0:12:41.521 --> 0:12:43.081 make sure that you follow that pain and then you 0:12:43.121 --> 0:12:45.641 communicate if you're not following that plan, because otherwise if 0:12:45.681 --> 0:12:47.121 you don't, then you get yourself into trouble. 0:12:48.241 --> 0:12:50.561 If you have people talking to you about what are 0:12:50.601 --> 0:12:52.601 the first bits of advice you give to people who 0:12:52.641 --> 0:12:56.441 are struggling to make ends meet that they maybe hadn't anticipated. 0:12:56.841 --> 0:12:59.601 Yeah, well, I think it's coming back to the basics, 0:13:00.201 --> 0:13:02.601 which is really looking at every single thing that you 0:13:02.641 --> 0:13:04.321 spend money on. And this is something I found really 0:13:04.401 --> 0:13:06.361 quite interesting because obviously I've looked at so many people's 0:13:06.601 --> 0:13:09.521 financial situations over doing this for twenty five years, and 0:13:09.681 --> 0:13:10.921 you know, people go, oh, you know, I'm doing it 0:13:10.921 --> 0:13:13.241 pretty tough. And then I see the nails, and I 0:13:13.281 --> 0:13:15.881 see the new iPhones and you see all these sort 0:13:15.881 --> 0:13:18.001 of things that may be important to them, but really, 0:13:18.481 --> 0:13:20.561 if you're in a bit of a financial pack or 0:13:20.561 --> 0:13:23.721 how important actually are they? So I think it's just 0:13:23.801 --> 0:13:26.241 been super realistic and going back and going what other 0:13:26.281 --> 0:13:28.841 things I can genuinely cut out. It's not necessarily forever, 0:13:29.001 --> 0:13:30.601 but just to get yourself through this tough time. 0:13:30.761 --> 0:13:31.881 Is that one of the mental. 0:13:31.601 --> 0:13:33.081 Blocks for people though, because. 0:13:34.521 --> 0:13:37.441 I would say for one of the mental blocks to 0:13:37.441 --> 0:13:39.521 people properly planning for their retirement is so they don't 0:13:39.521 --> 0:13:41.561 want to know how bad it's looking yep, and what 0:13:41.601 --> 0:13:43.561 they're going to have to do. And that would be 0:13:43.601 --> 0:13:47.001 the same that you're worried about certain key little things 0:13:47.001 --> 0:13:49.721 in your life that you're thinking, but I just couldn't 0:13:49.761 --> 0:13:52.881 bear it if I had to give up this simple 0:13:52.921 --> 0:13:57.441 pleasure yep, or this, And I think that's a really 0:13:57.601 --> 0:14:00.641 understandable human thing You've got to find you suddenly aiming 0:14:00.681 --> 0:14:05.561 to metaphorically speaking sleep on a you know, on a plank. 0:14:06.241 --> 0:14:08.001 Well, that's right. But then the other side of it 0:14:08.041 --> 0:14:10.641 is is going, okay, well, if I don't, you know, 0:14:11.001 --> 0:14:12.641 let's let go of this thing that gives me a 0:14:12.681 --> 0:14:15.641 bit of pleasure, then where am I going to be financially? 0:14:15.641 --> 0:14:17.401 What's the other side of that? So I get this 0:14:17.441 --> 0:14:22.161 temporary relief from getting my nails done using the same example, 0:14:22.361 --> 0:14:23.721 But then on the other side of you thinking, gosh, 0:14:23.721 --> 0:14:25.281 you know, I'm not paying off my credit card, so 0:14:25.441 --> 0:14:27.721 just one negate the other. And then the other thing 0:14:27.761 --> 0:14:29.601 to think about, too, is that you don't necessarily not 0:14:29.681 --> 0:14:31.401 have to do that thing that gives you pleasure for 0:14:31.441 --> 0:14:33.401 the rest of your life. You may just say, look, 0:14:33.401 --> 0:14:34.841 I'm just going to knock on its head for three 0:14:34.881 --> 0:14:37.281 months just to get me through the tough time that 0:14:37.321 --> 0:14:38.161 I'm in at the moment. 0:14:38.601 --> 0:14:40.241 Yeah, okay, So we'd like to hear from you E 0:14:40.241 --> 0:14:41.681 one hundred and eighty ten eighty. If you've got any 0:14:41.761 --> 0:14:46.321 questions for Lisa Dudson, she's are you actually do we 0:14:46.321 --> 0:14:48.241 describe you as a financial advisor as well? I can't 0:14:48.241 --> 0:14:48.841 mean what the rule? 0:14:49.201 --> 0:14:50.721 Yeah, well I am in a financial advisor, but I 0:14:50.761 --> 0:14:53.681 don't I'm not a regulated one. 0:14:53.801 --> 0:14:56.441 Okay, right, So we're not giving specific financial advice, but 0:14:56.441 --> 0:14:58.401 if you if you'd like to have a chat, share 0:14:58.441 --> 0:15:00.721 your experience, or if you're seeking some advice on a 0:15:00.721 --> 0:15:02.441 problem you want to get on top of, then we'd 0:15:02.481 --> 0:15:03.801 love to hear from you on how do you deal 0:15:03.841 --> 0:15:09.321 with financial stress without resting ruining your life or seeping into. 0:15:09.161 --> 0:15:10.601 Every other area of your life. 0:15:10.761 --> 0:15:12.361 Give us a call eight one hundred and eighty ten 0:15:12.441 --> 0:15:15.761 eighty in text on nine two nine two, and actually 0:15:15.881 --> 0:15:18.161 this hour as well, we're else it going to touch 0:15:18.161 --> 0:15:20.321 on you know, there's is there a silver lining to 0:15:20.361 --> 0:15:23.041 some of these dark times and opportunities that might present themselves, 0:15:23.081 --> 0:15:24.361 and how do you make sure that you're one of 0:15:24.361 --> 0:15:27.641 the ones who does it. It's twenty two past five 0:15:27.681 --> 0:15:28.081 News Talks. 0:15:28.121 --> 0:15:28.441 He'd be. 0:15:31.241 --> 0:15:35.841 Now sunbound myself. 0:15:36.881 --> 0:15:42.641 Heselfvery week content. 0:15:55.081 --> 0:15:56.961 Yes, welcome back to smart Money. This is the week 0:15:56.961 --> 0:15:59.921 in collective. I'm Tim Beverage. My guest is Lisa Dudson's. 0:15:59.961 --> 0:16:02.561 She's a personal wealth educated from acumen. She's how many 0:16:02.601 --> 0:16:04.641 books have you written, Lisa hones? 0:16:04.681 --> 0:16:07.281 Seem to you might, oh, that'd be helpful at eight eight, 0:16:07.561 --> 0:16:09.361 But that's over twenty years. 0:16:10.161 --> 0:16:14.041 Wow, I remembered it was quite some number when you 0:16:14.041 --> 0:16:17.401 wrote your first Yep, what's because I would have thought 0:16:17.641 --> 0:16:20.681 you'd get it out of your system if you've written, 0:16:20.881 --> 0:16:23.601 you know, I guess, yeah, what makes you write? 0:16:23.801 --> 0:16:25.121 Say for it? You've written number two? 0:16:25.361 --> 0:16:28.081 One, it does well, maybe I'll run another and okay, three, 0:16:28.121 --> 0:16:30.121 that's fine, But then you go four, five, six, seven, eight. 0:16:30.201 --> 0:16:31.321 Now, there was seemed to be a bit of a 0:16:31.361 --> 0:16:33.681 reason why I wrote one, you know, at the time, 0:16:33.681 --> 0:16:35.401 and and the first one was actually because I used 0:16:35.401 --> 0:16:37.201 to talk to property vistas all the time and teach 0:16:37.241 --> 0:16:39.041 them how about how to be property visitas. And then 0:16:39.081 --> 0:16:41.081 I kind of got a bit bored telling people the 0:16:41.121 --> 0:16:43.321 same thing over and over again, and then kind of thought, well, 0:16:43.441 --> 0:16:45.241 why didn't I put this into a manuscript? And then 0:16:45.281 --> 0:16:46.841 I put into a manuscript, and then I had a 0:16:46.841 --> 0:16:49.121 bright idea one day I thought why didn't I publish it? 0:16:49.161 --> 0:16:51.761 So I opened up the Yellow Pages and started ringing, 0:16:51.761 --> 0:16:55.241 and I rung Penguin and they said, they said, oh yeah, yes, 0:16:55.241 --> 0:16:57.161 Sin just manuscript, and so I sent it and they said, oh, 0:16:57.201 --> 0:16:58.881 you know, we're quite keen to publish that, but then 0:16:58.921 --> 0:17:00.361 turned it down at the lembit of hour and then 0:17:00.361 --> 0:17:02.081 I was like, oh my god. So I went into 0:17:02.081 --> 0:17:03.601 morning for about a month about it, and then I thought, 0:17:03.601 --> 0:17:05.681 oh no, I'll pick up Yellow Page and I you 0:17:05.721 --> 0:17:07.561 know this, this is in the old days, it's twenty 0:17:07.601 --> 0:17:09.041 years ago. And then I sort of rang a few 0:17:09.041 --> 0:17:11.561 other publishers and then got a contract with Read and 0:17:12.961 --> 0:17:14.921 Random House and had to choose between the two, and 0:17:14.921 --> 0:17:16.881 then you know, the rest is history. So it kind 0:17:16.881 --> 0:17:18.521 of started as a way for me to be more 0:17:18.521 --> 0:17:21.361 efficient and not keep repeating myself to all my clients. 0:17:22.601 --> 0:17:23.281 I'm not sure. 0:17:23.961 --> 0:17:26.041 I'm not sure you could invite somebody comes on financial 0:17:26.081 --> 0:17:28.401 advice and you go, listen, just here's the book. 0:17:28.921 --> 0:17:31.241