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James Clear: Forget Your Goals, Focus on Systems

Please Note: This episode is a re-run. The original air-date was on December 5, 2019. šŸ˜ŠĀ Ā Ā Ā Ā 

Building on from Episode 482, where we exploredĀ why progress tracking is key to healthy financial habit formation, weā€™re bringing back an old episode where we uncover…Ā 

The 4-step framework from James Clear on how to build good habits and break bad ones ā€“Ā for good!Ā Ā 

For those unfamiliar with this best-selling author ofĀ Atomic Habits,Ā James applies a unique blend of scientific research and practical life to breaking and building habits. His websiteĀ receives millions of visitors each month, and he is a regular speaker at Fortune 500 companies.Ā Ā 

Weā€™ll explore his distinctive perspective on habit-building, decision-making and continuous improvement from creating environmental design to the ā€œscaling downā€ strategy.Ā Ā 

Itā€™s an episode about creating lasting behaviours, overcoming setbacks and what encompasses true behavioural change. Tune in now!

 

Free Stuff Mentioned

  • Make Money Simple Again: Download our best-selling book that breaks down our MoneySMARTS money management system for FREE here >>Ā Ā Ā Ā 
  • Moorr App: Check out our money management platform (available on Desktop and Mobile) that automates the system fromĀ Make Money Simple Again.Ā Create your free account or login >>Ā Ā 

 

Additional Resources

Timestamps

  • 0:00 ā€“ James Clear: Forget Your Goals, Focus on SystemsĀ Ā  Ā 
  • 3:56Ā ā€“ Welcome James! Ā 
  • 5:44 ā€“ His backstoryā€¦Ā 
  • 10:40Ā ā€“ Why focus on daily habits? Ā 
  • 12:58Ā ā€“ The downsides to goal settingĀ 
  • 15:03Ā ā€“Ā Why systems always trump goals Ā 
  • 16:49Ā ā€“ How habit formation andĀ MoneySMARTS relateĀ 
  • 18:10Ā ā€“ Scaling Down: How to sustain good habits Ā 
  • 20:05Ā ā€“ Why doesĀ the entry point matter more than the end? Ā 
  • 21:27Ā ā€“ What isĀ true behaviour change?Ā 
  • 23:58Ā ā€“ WhatĀ common habitsĀ can you move the needle on quickly?Ā 
  • 26:36Ā ā€“Ā The 4-step Framework to Build Good Habits and Break Bad OnesĀ 
  • 31:51 ā€“Ā Environment design: Why it matters! Ā 
  • 34:33Ā ā€“ Why you need toĀ Master the Art of Delayed GratificationĀ 
  • 36:32Ā ā€“ What is The Valley of Death? (And how do you get through it?)Ā 
  • 38:00Ā ā€“ GOLD!Ā 
  • 43:10Ā ā€“ What does James recommend?Ā 
  • 44:33Ā ā€“ How does James get so much done??Ā 
  • 48:32Ā ā€“ How to deal with disappointment and setbacks Ā 
  • 52:04 ā€“ Jamesā€™ book recommendationsĀ 

 

482 | Why Your Financial Habits Arenā€™t Sticking

 

We all know money is simple, but behaviour is hard.Ā 

So what can we do to create lasting financial habits and behaviours instead of falling back into old money habits?Ā  Ā 

Folks, in todayā€™s episode, weā€™re sharing a scientifically backed solution thatā€™ll reveal how to achieve your goals financially and in life. Ā 

From introducing feedback loops to creating accountability (and thatā€™s just the tip of the iceberg), weā€™re uncovering how these can be used to boost goal achievement, motivation, self-efficacy, and more! Ā 

It’s a revolutionary episode where we dive beyond the waters of investing psychology and into the deeper, murkier waters of why humans act the way we do. Give it a listen now!Ā  Ā 

 

Free Stuff Mentioned

  • Itā€™s our 9th Birthday! Our Present to You: Free Suburb Report
    Timeā€™s running out to get your Suburb Report for free. Learn how your suburb has performed and its changing community and properties. Ā 
  • ā€œMake Money Smart Againā€ Book: Our MoneySMARTS money management thatā€™ll reduce your decision fatigue, teach healthy financial habits, and (as the name suggests) simplify your money management. šŸ˜Š Ā 
  • ā€œThe Armchair Guide to Property Investingā€ Book: The simple steps to invest in property and how to achieve your passive income goals.Ā 
  • Moorr Money Management App: Our platform automates the money management system from ā€œMake Money Simple Againā€ (available on mobile and desktop). Weā€™ve just introduced MyFinancials and Historical Tracking to help you easily track your progress towards your financial goals! Ā 
  • Read James Clear, Author of Atomic Habits,Ā Ultimate Habit Tracker Guide Ā 
  • Episodes 261 | How to Hack Your Habits to Make You a Better Money Manager ā€“ Chat with James ClearĀ 

Ā 

Events Mentioned

  • The Property Investors Council of Australia (PICA)Ā Webinar:
    Melinda Jennison, REBAA Chair, will share insights into the 2024 market outlook, key elements to watch out for as property investors and uncover what buyers’ agents bring to the table. 7-8pm, 27th February AEDST. Ā 
  • Investing for Doctors: Financial Independence Career Optionality Conference
    Ben will be the first speaker on Saturday, 9 March! Tune in to hear a range of speakers from the property world sharing information to assist doctors in everything they need to succeed in their financial and wealth creation journey. The eventĀ runs 9-10th March in Sydney.Ā 

 

Timestamps

  • 0:00 ā€“ Why Your Financial Habits Arenā€™t StickingĀ Ā  Ā 
  • 1:21 ā€“ Itā€™s our 9th birthday & upcoming eventsĀ 
  • 8:07 ā€“Ā Mindset Minute: Saving vs.Ā Investing Ā 
  • 9:39 ā€“ ā€œMoney is simple, behaviour is hardā€ Ā 
  • 12:00 ā€“ The secret behind motivation and goal achievement Ā 
  • 14:00 ā€“ How to implement goal tracking Ā 
  • 16:32 ā€“ Why financial goals are no different from any other goalsĀ 
  • 20:18 ā€“ Finding evidence to increase your Self-EfficacyĀ 
  • 22:21 ā€“ Be, Do, HaveĀ  Ā 
  • 26:02 ā€“ Habit formation and behavioural change Ā 
  • 29:14 ā€“ How Ben quelled his financial anxietyĀ 
  • 33:15 ā€“ C_ _p_r_s_n is the thief of joyĀ 
  • 36:05 ā€“ Keep it simple! Ā 
  • 40:10 ā€“ How to overcome decision fatigueĀ 
  • 43:44 ā€“ THIS can be used for the power of good or bad Ā 
  • 49:37 ā€“ If you see the progress, it makes you…Ā 
  • 52:37 ā€“ Perception of t___ and e____Ā 
  • 54:27 ā€“ This is the 2nd most important thing to be successful Ā 
  • 56:21 ā€“ How to track your progress easily Ā 
  • 1:06:16 ā€“ RecapĀ 
  • 1:07:20 ā€“ Sustained Consistency! Ā Ā 

And…Ā 

  • 1:08:15 – Lifehack: Small action to motivation. Take action today. Ā 
  • 1:22:54 – WMPN: Interest rate cuts in the later part of year…Ā 

Ā 

Exit Strategy

Please Note: This episode is a re-run. The original air-date was on August 6, 2015. šŸ˜ŠĀ  Ā 

ā€œBegin with the end in mind.ā€
Stephen Covey Ā 

In this weekā€™s bonus episode, weā€™re rewinding the clocks and revisiting a past episode that covers a core strategy every investor should have… Ā Ā Ā 

Your Exit Strategy Ā 

From the ā€œBuying and Holdingā€ to the ā€œBuying and Sellingā€ strategy, weā€™re exploring the many ways an investor can leave the property market and which approach works best under certain conditions. Ā Ā Ā 

Plus, tune in to hear how you can easily calculate the cost of your lifestyle (thereby how much you need to retire), understand the math behind reverse mortgages and learn: How realistic is the living off equity strategy?Ā  Ā 

An old episode that covers an evergreen concept, tune in now folks!Ā  Ā 

 

Free Stuff Mentioned

 

Timestamps

  • 0:00 ā€“ Exit StrategyĀ Ā 
  • 1:58 ā€“ Where this episode came fromĀ Ā 
  • 5:21 ā€“ Living off EquityĀ Ā Ā 
  • 8:03 ā€“Ā ā€œA goal without a date is just a dreamā€Ā Ā 
  • 9:57 ā€“ What fulfils you?Ā  Ā Ā 
  • 12:07 ā€“ How to calculate the cost of your lifestyleĀ Ā 
  • 14:22 ā€“ Buying & HoldingĀ Ā Ā 
  • 16:05 ā€“ Buying & SellingĀ Ā 
  • 19:40 ā€“ How realistic is living off equity?Ā Ā Ā 
  • 20:18 ā€“ Reverse MortgagesĀ Ā Ā 
  • 23:29 ā€“ This is Nirvana for BryceĀ Ā Ā 
  • 25:38 ā€“ Why most investors only need 3-5 investment propertiesĀ  Ā Ā 
  • 27:05 ā€“ Is Fractional Selling the Future?Ā Ā Ā 

 

481 | Property Market Outlook 2024

 

Itā€™s everybodyā€™s favourite time of the year… Ā 

(No, itā€™s not Christmas. Or your birthday. Well, itā€™s actually OUR birthday month and we’re giving you a present: Our Free Suburb ReportĀ šŸ˜‰)Ā 

It is, however, that time of year when we bring you… Ā 

Our 2024 Property Market Outlook!Ā  Ā 

Using expert data from the past 12 months and our own countless years of experience, weā€™re covering… Ā 

šŸ‘‰ The headlines we saw in 2023 (and the #1 biggest derailer the Gov didnā€™t expect)Ā 
šŸ‘‰ Why did we see housing prices soar? (With economic insights)
šŸ‘‰ The Big Focus of 2024, plus the one critical number the RBA is waiting to change before interest rates drop

šŸ‘‰ Where will the plane land? Interest rates, inflation figures & the easing cycleĀ Ā 
šŸ‘‰ What investors want to see in business investment data
šŸ‘‰ The Supply Story: What data reveals about future sale and rent volumeĀ Ā Ā 
šŸ‘‰ The downside risks and critical upsides in 2024
šŸ‘‰ Will property prices grow over the next 12 months?Ā Ā 
šŸ‘‰ The Rental Story: Will the crisis continue?Ā Ā 
šŸ‘‰ The most challenged markets and what markets we predict to see growth in!Ā Ā 
šŸ‘‰ Rental Rises: Who are the price makers and takers today?Ā Ā  Ā Ā Ā 

Tune in now to hear us honestly assess the past predictions and forecast the future of Australiaā€™s housing market!Ā 

Ā Ā 

P.S. The Property Investors Council of Australia (PICA) needs support!Ā As mentioned in ā€œWhatā€™s Making Property Newsā€, PICA is a not-for-profit organisation that gives property investors across Australia a voice. Any membership or donation helps. Become a member, donate or find out more today >>Ā Ā Ā 

 

Free Stuff Mentioned

  • Our Birthday Present to You:Ā Free Suburb ReportĀ 
    Go one level deeper than our Property Market Outlook. Learn how your suburb has performed and its changing community and properties. ā€˜Cos itā€™s our birthday month, weā€™re also giving it away for $0 (Usually RRP $40) Ā Ā 
  • Share whatā€™s on your mindĀ through our SpeakPipe:Ā Leave us your raving reviews, little lifehacks and burning questions ā€“ and if we mention it on the podcast, youā€™ll get aĀ free Start & Build courseĀ as our thank you šŸ˜Š Ā Ā 

 

Timestamps

  • 0:00 ā€“ Property Market Outlook 2024Ā 
  • 1:39 ā€“ Free Suburb Report Ā 
  • 5:29 ā€“ Thank you, Muzzaaa (Let us know whatā€™s on your mind & get a free Start & Build course!) Ā 
  • 6:27 ā€“ Mindset Minute: There are two ways to use money…Ā 
  • 7:14 ā€“ What happened in 2023? Ā 
  • 10:07 ā€“ Why have housing prices soared? Ā 
  • 11:37 ā€“ Last year, we got THIS wrong… Ā 
  • 12:20 ā€“ The Water Wheel is slowingĀ 
  • 14:44 ā€“ The big headline of 2024Ā 
  • 15:07 ā€“ What we want to see in Business Investment dataĀ 
  • 17:15 ā€“ Are businesses and government still splurging on spending? Ā 
  • 18:45 ā€“ The number that needs to change before interest rates drop…Ā 
  • 21:27 ā€“ The drivers of demand Ā 
  • 23:51 ā€“ Our assumptions Ā 
  • 26:32 ā€“ The dangerous derailers Ā 
  • 27:29 ā€“ The supply story: What the data reveals about future sales and rent volume Ā 
  • 30:01 ā€“ New financing for investors & owner-occupiersĀ 
  • 32:51 ā€“Ā The incoming storm: The #7 downside risksĀ 
  • 35:38 ā€“ Hereā€™s the exciting upsides! Ā 
  • 37:06 ā€“ Buyer Demand across AustraliaĀ 
  • 38:59 ā€“ Days on Market & Vendor Discounts: What do they signal? Ā 
  • 41:32 ā€“ Use THIS sophisticated tool for predicting growth… Ā 
  • 43:53 ā€“Ā Good signsĀ for property prices Ā 
  • 45:31 ā€“ The rental story:Ā Will the crisis continue? Ā 
  • 48:12 ā€“ The most challenged marketsĀ 
  • 50:29 ā€“ Letā€™s consolidate: Big 4 bankā€™s outlook & what markets we predict to see growthĀ 
  • 53:38 ā€“ The Commuter Belt is driving…Ā 
  • 54:44 ā€“ Why Melbourne is a challenged marketĀ Ā 
  • 58:56 ā€“ Predictions for Sydney Ā 
  • 1:01:38 ā€“ Our advice for 2024 Ā 

And…Ā 

  • 1:05:44 – Lifehack: Sleep is the best meditation. Hereā€™s how to ease yourself into it.
  • 1:09:57 – WMPN: Help give investors a voice through supporting PICAĀ 

Ā 

Why an Abundant Mindset is the Formula for Financial Freedom

Ā In this week’s episode, Ben makes a guest appearance on The Australian Property Investment Podcast, hosted by Aaron-Christie David. Ā 

From dissecting why money isnā€™t as simple as ā€œin and outā€ bank transactions to exploring why home ownership is still possible for new investors and generational renters, this weekā€™s episode is all about the power of an Abundance Mindset. Ā 

Hereā€™s a sneak peek of what else we cover…
šŸ‡¦šŸ‡ŗ Is the Great Australian Dream dead?Ā 
šŸ  The #2 biggest mistakes Ben made in property
šŸ’” How Ben and Michael designed a revolutionary money management system
šŸ•° Building money habits for long-term success
šŸ“ˆ How an investorā€™s wealth-building speed affects their psychology
šŸ“š PIPA’s pivotal role in property investing
šŸš© The Red Flags a property spruiker will show Ā Ā 

Listen now! Ā 

 

Free Stuff Mentioned

  • Make Money Simple Again: Download our best-selling book, for FREE here >>Ā Ā Ā 
  • Manage your money in 10 minutes a month: Check out Ben and Michael Popeā€™s revolutionary money management platform (available on Desktop and Mobile) that automates the system from Make Money Simple Again. Create your free account or login >> Ā 
  • Get Qualified Property Investment Advice: Learn more about The Property Investment Professionals of Australia (PIPA) and how they can help you to avoid being spruiked. Find out more >> Ā 

 

Timestamps

  • 0:00 ā€“ Why an Abundant Mindset is the Formula for Financial FreedomĀ 
  • 4:05 ā€“Ā Benā€™s 3PsĀ 
  • 6:40 ā€“ The #2 biggest mistakes heā€™s made Ā 
  • 8:35 ā€“ Adopting an ā€œAbundance Mindsetā€ Ā 
  • 12:49 ā€“ From coffee to empowering others Ā 
  • 15:09 ā€“Ā Why Money Isnā€™t Simple!Ā Ā 
  • 18:15 ā€“ A client focused approach to property investingĀ 
  • 21:19 ā€“ Designing revolutionary money management Ā 
  • 26:27 ā€“ Is the Great Australian Dream dead?Ā  Ā 
  • 32:15 ā€“ Should generational renters be worried? Ā 
  • 36:27 ā€“Ā ā€œThe Market Rewards Action Takers and Decision Makersā€Ā 
  • 39:54 ā€“ Why does the speed of your wealth-building matter?Ā  Ā 
  • 43:12 ā€“Ā PIPA’s Pivotal Role in Property Investing Ā 
  • 46:22 ā€“ Watch out for these property spruiker red flags!Ā 

 

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