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Episode 319 | From Poor Dad To Rich Dad – How To Wipe Out Financial Trauma Learnt In Childhood – Chat with Michael

What if you grew up in an environment where money was extremely tight? And what if this experience carried on into young adulthood, this time from your OWN financial decisions… up until something finally cracked and you said, “That’s it, I’ve had enough!”

What if you went from DROWNING in debt to FLOATING on Financial Peace… and finally cracked the code to break the family’s financial trauma cycle once and for all?!

Well folks, joining us today is listener Michael – and he knows EXACTLY what this financial transformation feels like… because he’s lived it!!

Here’s the deal…

On the last day of one of the most interesting years we will probably ever experience (good riddance 2020!!), we are interviewing someone who has, through no fault of his own, faced money challenges as a child… but then went on to become a young adult who survived on one can of tuna and slices of bread while snowed under some seriously bad debt…

… and now, through sheer grit and a reversing his money habits (and money mindset), OWNS three properties and has wiped out the financial trauma he learnt in childhood!

Yes… Michael went from having a Poor Dad…. to becoming a Rich Dad.

So, how did he do it?!

Tune in now to listen to learn how you can go from struggling to pay the bills to being an investor in complete control of your finances!

 

Free Stuff Mentioned…

 

What We Cover…

  • 03:04 – What was money like for Michael growing up?
  • 05:20 – Was his dad explicit about the money issues?
  • 06:06 – How did this background flow into Michael’s own money habits?
  • 08:34 – What sparked the desire to finally change?
  • 09:58 – The danger zone credit card story…
  • 12:51 – Where did he seek help to get on top of his debt?
  • 14:52 – “Psychological Sense” vs “Mathematical Sense” for what debt to pay off first
  • 16:02 – A tip to break negative habits
  • 17:35 – How did they afford a house deposit?
  • 19:35 – How did he discover The Property Couch?
  • 20:10 – Michael’s favourite property investing books!
  • 20:42 – Lessons Learnt From The Richest Man In Babylon…
  • 21:44 – What does Michael’s spreadsheet track?
  • 23:03 – What motivates Michael to be so “hands on” with his money management?
  • 23:34 – Why is Michael investing in property, anyway?
  • 25:26 – … The Big Rocks in The Jar!
  • 28:32 – Financial Trauma: Conscious & Unconscious Consequences…
  • 30:35 – How to resolve underlying money mindset patterns
  • 34:55 – What is Debt Recycling?
  • 35:36 – How to get the balance right to work out what’s really “enough”
  • 36:48 – Why No One Wants To Be The Richest Man In The Cemetery…
  • 37:34 – How to make compromises while still rewarding yourself so you stay the course
  • 38:12 – The property story!
  • 38:47 – Now, that’s sacrifice!! (Delayed Gratification in its finest form)
  • 40:20 – How many properties is he aiming for?
  • 40:37 – Asset Selection Mistakes
  • 44:38 – How does Michael’s Dad feel about all this? 😊
  • 44:56 – Should you take advice from friends and family?!

 

Note: There are more real-life investor stories like this in our Summer Series! Make sure you check them all out here.

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Episode 318 | 3 Investment Properties, 1 Family Home & Nothing Left To Do But Retire! – Chat with Dennis

Want to meet an investor who has FINISHED their Acquisition Phase?! That is, they’ve purchased ALL the properties they need to earn a passive income for life… so now there’s nothing left to do but retire!!

Here’s the deal… today we are speaking to a “TPC Veteran” – someone who has listened to the podcast since the very beginning… and in that time has actioned on all the teachings and built their own property portfolio from start to finish!!

… Meet Dennis, a property investor who proves it’s entirely possible for “Mums and Dads” to build a portfolio in their 40s… and not only that… but purchase THREE investment properties in less than five years!

So… how on earth did he do it?!

Even better, how did Dennis and his wife, Glenda, invest without completely impacting their family budget?! (… and without earning massive incomes!?!)

Tune in now to hear the full transformation and hear how it feels to be “at the end of the line” of the property investment journey!

 

Free Stuff Mentioned…

 

Here’s What We Cover…

  • 03:32 – What was Dennis’s money backstory?!
  • 05:22 – What were the family money rituals growing up?
  • 05:55 – How did he manage his money when he first started earning an income?
  • 06:11 – Getting a loan for a car…
  • 06:43 – How did he chose his first bank account?
  • 08:00 – Was he always considering investing in property?!
  • 10:24 – Using a credit card to pay for everything…
  • 11:05 – Conscious vs Unconscious spending
  • 12:43 – Money alignment with your life partner…
  • 14:02 – How old was he when he discovered The Property Couch?!
  • 17:16 – When did the shift to getting serious about creating a passive income happen?
  • 19:40 – Purchasing property during a boom…
  • 22:06 – How has Money SMARTS played a critical role in all this?
  • 26:19 – How do they use their 7-day float?
  • 32:28 – Is it too late to invest in property?
  • 33:42 – The Game-changing Mindset Shift!
  • 35:50 – When (and how) did they purchase each property?
  • 36:20 – What’s it like being a Borderless Buyer?
  • 37:53 – The Passive Income Target!
  • 40:11 – Should you EVER buy sight unseen?
  • 42:21 – When your need to calling on Defence…
  • 49:22 – Dennis’s advice for YOU!

 

Note: There are more real-life investor stories like this in our Summer Series! Make sure you check them all out here.

Keen to Get Started with Money SMARTS like Dennis?

Fill in the form below and create your account on our Money SMARTS Platform now!

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6 Reasons Why The Property Market Did NOT Collapse During COVID-19! – Bonusisode with Nerida

Folks, wanna know the SIX reasons why Australia’s property market didn’t “plummet” during a global pandemic…. even when so many commentators suggested otherwise!?!👇

We’re checking in with Nerida Conisbee, Chief Economist at REA Group and she’s going to tell you exactly why… and the key risks we still have to keep an eye on as we move into 2021!

 

A Hint on The 6 Reasons… (see if you guess right 😉)

1️⃣ __ are being __ for now

2️⃣ Unemployment primarily impacting __

3️⃣ __ __ have slowed

4️⃣ Some __ __ are faring well

5️⃣ Less overall __

6️⃣ Record level of Govt stimulus, such as __

 

Tune in now to Get ALL 6 Reasons and the latest update on…

🔸 Biggest risks to undermine Australia’s economic recovery

🔸 China /Australia Relations – who’ll blink first?

🔸 When’s the MOST auctions happening!?

🔸 How did so many commentators get it WRONG?

🔸 Where are First Home Buyers going?

🔸 How second homes might drive the post-COVID housing boom

🔸 The star suburb performer in NSW this year in

🔸 Commercial property investment from UK and German funds

🔸 Australian luxury property defies the downturn and global trend

🔸 Property Market Predictions For 2021

 

 

 

Episode 317 | Crushed By An Underwater Missile… And Still On The Road To Financial Peace! – Chat with Max

Some stories need to be told. And today’s guest listener owns one of those stories.

Here’s what happened…

While working in the Navy, Max Roman literally had his legs crushed when a torpedo unexpectedly fell from a submarine’s storage shelf, instantly trapping him.

Obviously, that’s quite a full-on story, right!?! And definitely not something you hear every day.

But it gets even more “Wow.”

… Despite all this, Max held true to his commitment to create something more for himself. He stayed the course because YEARS BEFORE all that happened, he’d embarked on a journey few folks take… he’d started upon the road less travelled to Financial Peace!

And what a trek it’s been!!

… ‘cos there’s SOMETHING ELSE to Max’s story that surprised the heck out of us…

… low and behold, it turns out he actually went to the same high school as Bryce – just the year below!

Like we said, some stories just need to be told…

Tune in now to hear it.

 

Free Stuff

 

Here’s What We Cover…

 

Note: There are more real-life investor stories like this in our Summer Series! Make sure you check them all out here.

Keen to Get Started with Money SMARTS like Max?

Fill in the form below and create your account on our Money SMARTS Platform now!

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Episode 316 | From 12 Bank Accounts To A Sigh Of Relief! – Chat with Renae

Yep. She once had TWELVE bank accounts open… but now her money management story looks very different indeed!

Joining us today is listener Renae Brandsema… and we’re about to unpack how she said goodbye to financial stress once and for all.

Because what’s interesting about Renae is she has known what money is like as a stressor – and she’s previously tried to control this stress by counting every single dollar that went out the door – which at face value might seem like it’s smart money management, but in actual fact does more harm than good… often contributing (or perhaps even causing) the stress in the first place!

We mean… Can you even imagine trying to manage all those bank accounts!?!

Thankfully, Renae has a very different relationship to money now… and while she’s kept some of her positive money habits – like being frugal when it comes to “wants” versus “needs” – she now knows what it’s like to be in REAL CONTROL of her money.

… And with that comes the best reward – Financial Peace.

Tune in now to hear how Renae took total control back of her money management (and got rid of all those accounts 😉)!

 

Free Stuff Mentioned…

 

Here’s What We Cover…

  • 02:53 — Meet Renae and her money background…
  • 07:12 — What’s she like with shopping?!
  • 07:50 — What’s “holes in socks” got to do with all this?
  • 09:47 — The transition to marital life…
  • 11:00 — Who handles the money in the relationship?
  • 11:49 — What were the early years of managing money like?
  • 12:38 — 12 bank accounts!
  • 16:30 — The reconciling system…
  • 18:36 — What was causing all the money stress?
  • 19:39 — What triggered her to look for a different system?
  • 23:01 — The “A-ha” moment…
  • 24:40 — The biggest change (and how it impacted Renae’s husband)
  • 30:19 — The Money Transformation!
  • 31:23 — What was the property planning process like?
  • 35:07 — Why does Renae think you should use Money SMARTS?
  • 26:39 — What does their weekly “kitty” look like?
  • 39:40 — #1 Tip for paying for petrol!
  • 44:08 — How long does their monthly check up take?
  • 46:39 — How to get The Big Rock in The Jar…
  • 53:53 — What do you do with business profits inside the MyWealth Portal?
  • 55:36 — What do we think about financial education in schools?

 

 

Note: There are more real-life investor stories like this in our Summer Series! Make sure you check them all out here.

Keen to Get Started with Money SMARTS like Renae?

Fill in the form below and create your account on our Money SMARTS Platform now!

Already have an account? Log in here.

 

 

 

Bonusisode | Everything You Need To Know About VIC Stamp Duty!

How will stamp duty changes in Victoria affect you? Folks, we’re about to unpack the new stamp duty and land tax changes outlined in the Victorian State Budget… and what this means for home buyers and property investors!

So who gets the most benefit? And HOW MUCH will we pay in stamp duty moving forward? And are these discounts likely to stick around, or…?
’cos here’s what’s interesting…

… with VIC’s proposed changes following suit after NSW took the lead in stamp duty reform… does this mean Australia plans to get rid of stamp duty altogether??

Or is there a bit more to all this than we all know about?

Tune in now to find out everything you need to know about Victorian Stamp Duty!

 

Here’s What We Cover..

👉 Who gets the most benefit?
👉 Who is NOT going to benefit from these changes?
👉 HOW MUCH will we pay in stamp duty moving forward?
👉 Are these discounts likely to stick around?
👉 Will this cause any long term impacts on the property market??

 

 

Episode 315 | How A Paper Round Paved The Way To A Passive Income – Chat with Brendan

Today we kick off the first episode of our Summer Series – that is, we’re showcasing REAL LIFE MONEY TRANSFORMATIONS!

And there’s no better place to start than with Brendan Deith, who took humble beginnings as a paperboy to ignite money habits that would go onto pave the way to a passive income for life!!

And Brendan’s journey has indeed been an endless ripple effect – from learning good money management early (thanks to his paper round & his parents sound money management conversations around the kitchen table) right through to the ULTIMATE OUTCOME – Financial Contribution.

There’s a few tweaks and tips along the way too… so strap yourselves in folks ‘cos you’re in for a feel-good episode with solid takeaways that you can go ahead and implement in your own life too!

Psst… just wait to you get to the part about “The Classroom Economy” – it’s game-changing!

 

Free Stuff

 

What We Cover…

  • 05:38 – Brendan’s Backstory
  • 08:30 – The Drum set that kickstarted healthy money habits…
  • 09:57 – What was his parents’ “extra” jar?
  • 11:09 – The award saver account (paper round money)
  • 12:18 – What was Brendan’s original budgeting system?
  • 14:27 – The first property
  • 16:17 – How did having a buffer help with the mindset?
  • 17:48 – BEFORE Money SMARTS…
  • 18:58 – AFTER Money SMARTS
  • 24:26 – The Ripple Effect of spending habits
  • 26:22 – What does Brendan most enjoy about Delayed Gratification?
  • 27:44 – How & When did he discover Money SMARTS, anyway?
  • 29:44 – Unique Ways to get your essential spending down…
  • 30:38 – How does Brendan navigate provisions?
  • 31:34 – Why has he NEVER done the 7-day float?
  • 32:13 – Using a credit card for everyday spending (Who should & Who absolutely should NOT?)
  • 33:32 – Is Brendan’s wife equally on board?
  • 24:17 – The Best Advice They Ever Got!
  • 35:17 – What are they doing with the trapped surplus?
  • 35:37 – What’s their Passive Income target?
  • 37:33 – Getting Property Investment Advice and getting an answer to this question: “How many properties do we actually need?”
  • 39:41 – How does he feel about getting into debt?
  • 41:09 – The first investment property…
  • 43:75 – The Two Journeys You’ll Almost Always Take To Reach Financial Peace
  • 45:04 – Brendan’s “Classroom Economy” that teaches kids about money…
  • 50:42 – Money SMARTS Hack
  • 52:53 – Brendan’s Question for us… Do you plan for an increase material (and labour) cost for renovations

 

Note: There are more real-life investor stories like this in our Summer Series! Make sure you check them all out here.

Keen to Get Started with Money SMARTS like Brendan?

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Our 1st ever Summer Series SURVEY folks!

Bonusisode | A Complete Breakdown of NSW Stamp Duty Changes!

Folks, as you’re likely aware, the NSW government has taken the lead on ENDING stamp duty!

Yep. In their unforgettable 20/21 Budget, NSW has announced some significant proposed changes to the heavily debated Tax charged for property purchases….

So, what are these proposed changes and how do they affect property buyers?! And will property investors get a look in?

Tune in now, because we’re unpacking NSW Stamp Duty Changes… and whether or not this will start the ripple effect for Tax Reform across other states and territories…

 

Here’s What We Cover..

  • The background story of what’s been happening
  • What are the proposed NSW Stamp Duty Changes?
  • The strategy behind this proposal
  • Will it stimulate economic activity and boost homeownership?
  • Pro’s and Con’s: What will the flow-on effect be?
  • The real winners and losers of this policy change

 

 

RBA December 2020 – The Big Turn Around?!

Last cash rate announcement for the year folks and after last month’s cut, we know the Reserve Bank of Australia will not be moving the cash rate anytime soon. But yet, there are still A LOT of things happening globally and domestically.

So here’s Ben’s update on what’s happening to property markets around the world and in Australia.

 

Plus, Ben also includes his latest news and commentary on…

👉 A Quick update Into The COVID-19 Health Crisis
👉 Who won the US Election and what to expect from now on?
👉 The trade war happening between Australia and China right now
👉 Australia’s Unemployment Story and the Wage Growth Index
👉 What’s Released in the most recent NSW & VIC Budget
👉 The Construction and Property Market Update
👉 What’s Next For The Australian Property Market?

 

And One Final Word…

If you’re worried about your finances or if you have no clarity on your cash flow position, we strongly recommend you to organise your finances now. It’s more important than ever to have a clear view, down to the exact cent, on how much you’re spending each month and how much surplus you’ve got. If you don’t know it, then log in to your Money SMARTS Platform here and update the numbers.

Don’t have an account yet? Create your free access below and we’ll also send you an e-copy of the instruction manual which is also our best-seller book, Make Money Simple Again. Just fill in the form below and we’ll email it to you right away.

 

 

 

DISCLAIMER: This podcast is general information only and is an opinion comment by Ben Kingsley. The information contained in this video is for Australian residents only. The information does not take into account the particular investment objectives or financial situation of any potential viewer. It does not constitute, and should not be relied on as, financial or investment advice or recommendations (expressed or implied) and it should not be used as an invitation to take up any investments or investment services. No investment decision or activity should be undertaken on the basis of this information without first seeking qualified and professional advice.

The Property Couch, its employees or contractors do not represent or guarantee that the information is accurate or free from errors or omissions and therefore provide no warranties or guarantees. The Property Couch disclaims any and all duty of care in relation to the information and liability for any reliance on investment decisions, claiming the use or guidance of this publication or information contained within it.

For more information, please visit: http://thepropertycouch.com.au

 

 

 

 

 

 

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