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486 | “Stuff This!”: How to Tackle Financial Anxiety

 

PLEASE NOTE: We have changed the names of the folks in these case studies.  

 We’ve all experienced the gut-wrenching anxiety that comes with property investing, and it’s a natural response considering the huge sums of money and extensive time involved.  

But what happens when it becomes an overwhelming feeling that wakes you up at 2am?  

Folks, this is a REAL story from today’s honest and inspirational Case Study episode.  

From Billy, a single dad holding onto his ambition to secure a future for his son amidst personal and financial upheaval, to Liz and Michael, a couple who found themselves constantly fighting their financial fears.  

Hear how these investors confronted their anxieties, took that first big step with a qualified accountability partner and created their path to freedom.   

The end result? One plan maximises time in the market resulting in a passive income of $2K and the other one creates a net wealth of $17M at retirement😮  

Tune in now to find out step-by-step how these folks will achieve this!  

 

P.S. Huge thank you to today’s guests for opening up about their journeys, we know it’ll inspire many folks in the community to take action.  

 

Free Stuff Mentioned

 

Timestamps

  • 0:00 – “Stuff This!”: How to Tackle Financial Anxiety 
  • 2:43 – PICA Webinar: Stage 2 Property Reforms (QLD)  
  • 3:28 – Social reach out from Kurtis (Share the Ep you’re listening to on your socials!)  
  • 6:08 – Vale Steve Waters  
  • 8:46 – Mindset Minute: What is consistency?  
  • 13:05 – How MoneySMARTS saved this listener! 
  • 14:33 –  Moorr Upgrade Teaser! 
  • 16:31 – Case Study #1: Billy 
  • 20:20 – The magic of soundboards 
  • 22:06 – External Problems: A growing business & limited borrowing capacity  
  • 23:30 – Mortgage Savvy Brokers vs. Accountants  
  • 26:59 – The Internal Challenge 
  • 28:47 – The Plan: How to put more cards on the table  
  • 31:59 – Contingencies Amanda built into this “Single Gent Plan”  
  • 38:15 – How Billy is maximising his tax deductibility  
  • 39:44 – The end goal and his focused transformation  
  • 43:25 – Case Study #2: Liz and Michael  
  • 45:46 – The Anxiety Pitch 
  • 47:43 – Where did the stress and anxiety come from?  
  • 50:52 – Bryce & Ben’s experience with investing anxiety  
  • 55:09 – Google Maps Analogy: There is NO one-size-fits-all!  
  • 57:27 – The Epiphany: “Stuff this!”  
  • 58:41 – The Plan: The contingency child and education 
  • 1:03:54 – How this couple took action 
  • 1:07:25 – $17M at retirement and no more anxiety! 
  • 1:10:16 – Thank you to Amanda, Stu, Billy and Liz & Michael!  

And… 

  • 1:10:47 – Lifehack: A Bed-Time Routine for Strengthening Connection 
  • 1:14:25 – WMPN: Disturbing data from Victoria: House and land sales plummet  

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. 😊     

Building on from Episode 482, where we explored why progress tracking is key to healthy financial habit formation, we’re bringing back an old episode where we uncover… 

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

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

We’ll explore his distinctive perspective on habit-building, decision-making and continuous improvement from creating environmental design to the “scaling down” strategy.  

It’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 >>    
  • Moorr App: Check out our money management platform (available on Desktop and Mobile) that automates the system from Make Money Simple AgainCreate your free account or login >>  

 

Additional Resources

Timestamps

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

 

482 | Why Your Financial Habits Aren’t Sticking

 

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

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

Folks, in today’s episode, we’re sharing a scientifically backed solution that’ll reveal how to achieve your goals financially and in life.  

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

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!   

 

Free Stuff Mentioned

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

 

Events Mentioned

  • The Property Investors Council of Australia (PICA) 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.  
  • 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 event runs 9-10th March in Sydney. 

 

Timestamps

  • 0:00 – Why Your Financial Habits Aren’t Sticking    
  • 1:21 – It’s our 9th birthday & upcoming events 
  • 8:07 – Mindset Minute: Saving vs. Investing  
  • 9:39 – “Money is simple, behaviour is hard”  
  • 12:00 – The secret behind motivation and goal achievement  
  • 14:00 – How to implement goal tracking  
  • 16:32 – Why financial goals are no different from any other goals 
  • 20:18 – Finding evidence to increase your Self-Efficacy 
  • 22:21 – Be, Do, Have   
  • 26:02 – Habit formation and behavioural change  
  • 29:14 – How Ben quelled his financial anxiety 
  • 33:15 – C_ _p_r_s_n is the thief of joy 
  • 36:05 – Keep it simple!  
  • 40:10 – How to overcome decision fatigue 
  • 43:44 – THIS can be used for the power of good or bad  
  • 49:37 – If you see the progress, it makes you… 
  • 52:37 – Perception of t___ and e____ 
  • 54:27 – This is the 2nd most important thing to be successful  
  • 56:21 – How to track your progress easily  
  • 1:06:16 – Recap 
  • 1:07:20 – Sustained Consistency!   

And… 

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

 

Why an Abundant Mindset is the Formula for Financial Freedom

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

From dissecting why money isn’t as simple as “in and out” bank transactions to exploring why home ownership is still possible for new investors and generational renters, this week’s episode is all about the power of an Abundance Mindset.  

Here’s a sneak peek of what else we cover…
🇦🇺 Is the Great Australian Dream dead? 
🏠 The #2 biggest mistakes Ben made in property
💡 How Ben and Michael designed a revolutionary money management system
🕰 Building money habits for long-term success
📈 How an investor’s wealth-building speed affects their psychology
📚 PIPA’s pivotal role in property investing
🚩 The Red Flags a property spruiker will show   

Listen now!  

 

Free Stuff Mentioned

  • Make Money Simple Again: Download our best-selling book, for FREE here >>   
  • Manage your money in 10 minutes a month: Check out Ben and Michael Pope’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 >>  
  • 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 >>  

 

Timestamps

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

 

477 | How This Expat Family Built a 5 Property Portfolio: Escaping Property Price Crashes, Off the Plan Problems & Open Money Conversations – Chat with Emer

 

Folks, if you’re searching for a great property investing role model, then Emer, today’s Summer Series guest, is your person! ⭐🙌     

Today, she and her husband, Rod, own a five-property portfolio and are looking towards a future with a comfortable retirement and legacy piece to leave two kids.    

Getting to this stage, however, hasn’t come without its ups and downs.    

Tune in to hear Emer’s story as she swings from living paycheck to paycheck in Galway to meeting her future husband in sunny Australia to the property market crash they narrowly escaped. 

This is just the beginning of the story.      

We’re diving deep to uncover how they overcame getting stung by a spruiker, why they decided to go borderless, and the positive transformative process they underwent by getting a financial plan.  

It’s another motivational, heart-warming story with an awesome guest. Tune in now! 

 

Free Stuff Mentioned

 

Timestamps

  • 0:00 – How This Expat Family Built a 5 Property Portfolio: Escaping Property Price Crashes, Off the Plan Problems & Open Money Conversations 
  • 1:18 – Welcome Emer!  
  • 2:10 – Generational Differences: Envy & Magazines 
  • 8:58 – She spent everything in those first weeks?! 
  • 11:41 – Trailblazing to Accounting & Australia  
  • 13:34 – The bullet they dodged with Property #1!  
  • 16:07 – Starting life again with just 6 boxes and 1 qualification😮  
  • 18:11 – First steps on the property ladder in Sutherland  
  • 20:13 – Emer’s efficient money management system  
  • 23:41 – So, why did she “U-turn” on a bigger house?  
  • 26:22 – They got burned by THIS textbook mistake 🙁  
  • 29:23 – Be wary of conversations like these…  
  • 33:15 – Pay off your home loan in 7 years: Why this tax strategy is dangerous 
  • 35:06 – Going borderless!  
  • 37:07 – Why did she want a financial plan? (From an accountant’s perspective)  
  • 39:22 – “Everyone makes the assumption when you’re an accountant that you can do everything… 
  • 41:00 – The seamless process behind Property #3  
  • 42:37 – How Emer & Rod invest in property AND keep their cool!  
  • 47:32 – THIS should give everyone confidence!  
  • 49:11 – What’s next on her property journey?  
  • 50:53 – Would she have taken the jump as a DIY investor?  
  • 52:57 – Here’s why Emer is the perfect property model… 
  • 56:09 – The inspirational reason she came onto the Couch 
  • 59:48 – What a remarkable story! Thank you Emer 😊  

 

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