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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… 

 

Exit Strategy

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

“Begin with the end in mind.”
Stephen Covey  

In this week’s bonus episode, we’re rewinding the clocks and revisiting a past episode that covers a core strategy every investor should have…    

Your Exit Strategy  

From the “Buying and Holding” to the “Buying and Selling” strategy, we’re exploring the many ways an investor can leave the property market and which approach works best under certain conditions.    

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?   

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

 

Free Stuff Mentioned

 

Timestamps

  • 0:00 – Exit Strategy  
  • 1:58 – Where this episode came from  
  • 5:21 – Living off Equity   
  • 8:03 – “A goal without a date is just a dream”  
  • 9:57 – What fulfils you?    
  • 12:07 – How to calculate the cost of your lifestyle  
  • 14:22 – Buying & Holding   
  • 16:05 – Buying & Selling  
  • 19:40 – How realistic is living off equity?   
  • 20:18 – Reverse Mortgages   
  • 23:29 – This is Nirvana for Bryce   
  • 25:38 – Why most investors only need 3-5 investment properties    
  • 27:05 – Is Fractional Selling the Future?   

 

481 | Property Market Outlook 2024

 

It’s everybody’s favourite time of the year…  

(No, it’s not Christmas. Or your birthday. Well, it’s actually OUR birthday month and we’re giving you a present: Our Free Suburb Report 😉) 

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

Our 2024 Property Market Outlook!   

Using expert data from the past 12 months and our own countless years of experience, we’re covering…  

👉 The headlines we saw in 2023 (and the #1 biggest derailer the Gov didn’t expect) 
👉 Why did we see housing prices soar? (With economic insights)
👉 The Big Focus of 2024, plus the one critical number the RBA is waiting to change before interest rates drop

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

Tune in now to hear us honestly assess the past predictions and forecast the future of Australia’s housing market! 

  

P.S. The Property Investors Council of Australia (PICA) needs support! As mentioned in “What’s Making Property News”, 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 >>   

 

Free Stuff Mentioned

  • Our Birthday Present to You: Free Suburb Report 
    Go one level deeper than our Property Market Outlook. Learn how your suburb has performed and its changing community and properties. ‘Cos it’s our birthday month, we’re also giving it away for $0 (Usually RRP $40)   
  • Share what’s on your mind through our SpeakPipe: Leave us your raving reviews, little lifehacks and burning questions – and if we mention it on the podcast, you’ll get a free Start & Build course as our thank you 😊   

 

Timestamps

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

And… 

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

 

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! 

 

480 | How to FAIL to Retire on $2K Per Week

 

Ever wondered how to FAIL at building a successful property portfolio? 

Want to learn how NOT to build a weekly passive income of $2k?  

If so, then this is the episode for you! 😉 

This week’s episode gives you a step-by-step guide on how never to take action or build a weekly passive income of $2k. 

From the worst ways to approach the property market to the incorrect beliefs you should hold about investing, we’re breaking down this episode into the 4 crucial ways you could go wrong…

Can you guess them?   

  1. The Wrong S_R_ _E_Y: Approach this wrong; you’ll be frozen in paralysis forever. 
  1. The Wrong P_O_E_T_: Get this wrong, and you could pour thousands of dollars into your portfolio….and still never make a passive income 😮.  
  1. The Wrong M_N_ _E_: Slip up on this, and you can say goodbye to growth.  
  1. The Wrong N_T_ _R_: Refuse to seek this, and you’re going to fall into a lot more traps on the way… 

To avoid taking these wrong turns (and, in all seriousness, avoid making these mistakes), listen in now!  

 

P.S. As mentioned in Ben’s “What’s Making Property News”,  the Property Investors Council of Australia (PICA) needs support! As a not-for-profit organisation representing the everyday property investor without a voice, any membership or donation helps. Become a member, donate or find out more today >>  

 

Free Stuff Mentioned

  • FREE PROPERTY SUBURB REPORT: As our birthday gift to you, we’re giving away our data-packed Property Suburb Report – for free! (Usually RRP $40). Get your free report here >> (Note: There’s been a change in email restrictions which requires you to verify your email to allow us to send it to you. Please be aware that we are following these changes.)  
  • Watch our most streamed video ever >>  
  • Upcoming Q&A: Send us your puzzling property questions (and as thanks, get a free Start & Build course!) Send them through our SpeakPipe >>  

Timestamps

  • 0:00 – How to FAIL to Retire on $2K Per Week 
  • 1:25 – Our FREE birthday present for you…  
  • 4:56 – Mindset Minute: What is your ROI on a BOOK?  
  • 9:33 – “Invert, always invert”  
  • 10:59 – #1) The Wrong S_R_ _E_Y:  Sell N_ _!  
  • 11:57 – Wait To B_ _  
  • 13:05 – Don’t T_in_  
  • 14:06 – Leave It To The G_ _  
  • 15:45 – Play The S_ _ _ _ Game  
  • 17:21 – #2) The Wrong P_O_E_T_: Focus on P_ _p_r_ _ Appeal alone 
  • 19:13 – Ignore S_a_c_ty 
  • 20:20 – Don’t R_ _e_r_h 
  • 21:54 – #3) The Wrong M_N_ _E_: Treat your b_l_e_s like… 
  • 23:16 – Pr_ _r_s_in_t_  
  • 25:43 – Seek instant g_a_i_ic_ti_n 
  • 28:27 – #4) The Wrong N_T_ _R_: Take a_v_c_ From Your Family 
  • 30:31 – Self-Ma_a_e Your Properties 
  • 32:56 – Neglect B_i_d_ng Ins_e_t_ _ns  
  • 35:57 – The Checklist to Failure  
  • 38:28 – Our most streamed video ever… 

And… 

  • 40:04 – Lifehack: Value is found in the second or third lap (Thanks Merv!)
  • 43:47 – WMPN: Help us to support PICA 

 

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