“I needed to set something up so it’s essentially on autopilot and I’m protected from myself.”

Brendan Gale and his partner Marrissa have an unusual way of running our Money SMARTS system that we think is pretty cool. At first, this unorthodox twist made us go “Woah, what?!” and we kinda struggled to wrap our heads around it (we’re old school, folks)! But as you’re about to hear…. this surprise twist to the Money SMARTS system STILL works… and they’re trapping more surplus than ever before (just like they would if they were running it our ol’ simple way.)

Even better? Since running their “version” of Money SMARTS, they were able to….

1. Afford their dream wedding in the Greek Islands (yep! Not a cheap affair folks — and there’s a bit of story about an unexpected cost that came up here, eek!)
2. Invest in property
3. And still have their own cash to spend!!

And the craziest thing is of all?? Before all this… Brendan was living paycheck-to-paycheck!

So if you want to hear from someone who has been running Money SMARTS for some time now… and you’re curious to hear about the spin they’ve put on it, which might actually work for you… then hit play on another great ep from our Summer Series 😉

Pssst…. yes, they’ve got the same name… but today’s guest is NOT the Richmond Football Club President, ha!

Free Resources:

• FREE BOOK! (the Money SMARTS “manual”)— Make Money Simple Again
• FREE TPC MyWealth Portal (the system that implements Money SMARTS for you) — http://thepropertycouch.com.au/financialpeace

Episode Breakdown:

• 02:54 – Life before Money SMARTS!
• 05:15 – Why property over investing in shares?
• 08:50 – Why does the 7 Day Float make it so simple to trap surplus?
• 11:22 – How much of a deposit was needed for the First Investment Property?
• 11:23 – And what was the LVR on it?
• 13:30 – Why was going ‘wider’ a better investment strategy?
• 15:37 – The TWIST!
• 17:04 – The Pros and Cons of having separate money from your partner?
• 19:10 – Why does Brendan and his wife WANT separate money? (it’s probably not what you think!)
• 21:33 – Why are they both using Money SMARTS then?
• 24:40 – How did they save for their dream wedding on The Greek Islands?
• 27:25 – The “ouch” hidden cost — how much was the VAT tax?
• 29:25 – Why model out your property investment strategy?
• 33:57 – Brendan’s money, property and plain ol’ life advice for YOU…

Keen to Get Started with Money SMARTS like Brendan?

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Acted on your knowledge learnt on The Property Couch just like Brendan has? Let us know here!

P.S. Haven’t got your FREE PHYSICAL COPY of The Armchair Guide to Property Investing yet?? Get it here (just pay shipping + handling)

“Your eyes are over every cent.”

 Before we switched on the microphones, TPC listener Keren White wasn’t sure if she’d have anything ‘worthwhile’ to share. But just like every other guest in our Summer Series, her real-life experience with the fundamentals we’ve been teaching is nothing short of extraordinary! So when we hit go on record, she absolutely kicked into second gear and held nothing back… which means you’re about to be in for a ‘Wow, really?!’ ride…

Here’s her story in nutshell…  Keren is at the coal face of someone who has adopted our Money SMARTS system… but unlike most folk, what instigated the need to switch from a typical budget to our rules-based system was a bit different.

You see, prior to the change, Keren and her husband Terence’s life — and indeed their money habits — took a more of a ‘go with the flow’ approach. So, while they were able to get some savings together when they wanted to and never ventured into credit card debt territory, they almost always struggled to stick to their budget. Lifestyle and perhaps ‘living just for now’’ took precedence. For example, if they wanted a holiday… they took a holiday. If there was emergency cash sitting in their ‘car’ account — just one of the many open (FYI. you only need these accounts set up) — but say the car was running fine… well, then that was extra play money for the holiday, right?!

They weren’t stretched. They were doing kinda fine, really. Sure, there wasn’t much put aside for tomorrow, but their money situation wasn’t too bad in the scheme of things…

But then something happened. The Wake-Up Call. It was a hard blow that finally demanded Keren and Terence start prioritising their future….

Free Resources Mentioned

• Your FREE Book (free for a limited-time): http://makemoneysimpleagain.com.au
• Bonusisode – Are You Money Fit?
• Episode 191 | Seven Steps to Make Money Simple Again
• Facebook Group for Money SMARTS User

Episode Breakdown

02:40 – Keren’s backstory
04:04 – How was money spoken about at home?
05:00 – What was it like to be a child with parents who liked flipping houses?
5:50 – Trapping surplus cash when you first leave home…
7:00 – Why didn’t Keren want to invest in property? (here are the reasons why you shouldn’t)
7:56 – THE WAKE-UP CALL.
10:52 –  Why the budget FAILED!
11:12 – What is the pitfall of having a Savings Account that earns “bonus interest” when you don’t withdraw any money?
12:50 – How many accounts did Keren and Terence have? (shocking, but not surprising)
15:18 – How did she find out about Money SMARTS?
16:31 – Money SMARTS in action!!
21: 73 – What difference has this made in their life?? (Yay!)
27:39 – Do they share a 7 Day Float?
29:36 – Why DON’T they do their grocery shop on a Thursday?
37:23 – How do you make $25 out of nothing??
38:30 – Hacks to save money
40:29 – Keren’s experience with a Qualified Property Investment Advisor…
43:26 – How does Keren talk about money NOW?

Keen to Get Started with Money SMARTS like Keren?

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It was mid-2017 when David List and his wife, Lisa, decided to purchase their first investment property. But a few days into the settlement, and feeling a bit of buyer’s remorse, David did a quick Google-stalk to see what else he should probably know about investing… and that’s when he stumbled upon these two middle-aged larrikins (which turned out to be us!) riffing about property, finance and money management!!

From there, we’d like to think it became an immediate love story with The Property Couch… but, truth be told, that day we completely overwhelmed him, making David feel like there’s way more to “all this” than he first realised… (eek, our bad…)

Thankfully, somewhere along the line we must’ve said something that made sense… because he preserved and quickly got all in gold in the first twenty episodes, which got him up to speed on the fundamentals we’re all about. And one of those fundamentals — one of our Four Pillars of Mastery — was, of course, Cash Flow Management… ie. being smart with your money and knowing exactly where your hard-earned cash goes!!

This set fire to a whole new David and — we’ve gotta admit it — has transformed him into one of the BEST money managers we’ve ever seen! And this transformation has overflowed into almost every other area of his and his young family’s life… including their property story!

So, here in the studio — on our very first episode of 2020 — after putting Money SMARTS to the ultimate test, and coupling it with a money management app where he categorised every single transaction during 2017 – 2018…. well, let’s just say today’s guest has gone through an INCREDIBLE money transformation, folks!!

And just wait ‘til you hear what David — who once upon a time, left the money management up entirely up to Lisa — has brought into the studio, which tracks their ENTIRE financial story!!! (it’s a proud moment, folks! And not just ‘cos he brought us all gifts too, ha!)

Free Resources Mentioned:

• Episode 117 | Everything You Need To Know About Depreciation Changes – Chat with Bradley Beer, CEO of BMT Tax Depreciation: https://thepropertycouch.com.au/ep117-depreciation-changes-bradley-beer/

• Episode 257 | The Exception To The Rule When It Comes To Off The Plan Properties & House And Land Packages: https://thepropertycouch.com.au/ep257-off-the-plan-properties/
• Episode 258 | WARNING: The Unconscious Mental Triggers Property Spruikers Use To Trick You: https://thepropertycouch.com.au/ep258-property-spruikers/
• Episode 259 | Q&A: A Tax-Saving Hack For An Offset Account, The Simplest Way to Keep Track of Your Properties and How To Distinguish “Emotional Value” from “Property Value”: https://thepropertycouch.com.au/ep259-questions-answers-property/
• Make Money Simple Again (FREE Book): www.MakeMoneySimpleAgain.com.au

Episode Breakdown

• 13:02 — the money behaviours and saving hacks that lead to their first investment property!
• 17:00 — how did David get his wife on board with Money SMARTS?
• 23:15 — what happened after he listened to TPC?
• 29:15 — why get a Plan?
• 29:40 — what did his mortgage broker first tell him?
• 34:26 — the mental transformation (not just the $$$ one)…
• 31:35 — why is “the end game” not always about retirement?
• 36:42 — David’s advice for people thinking, “Yeah, but…”
• 42:16 — how should you be paying for a haircut? (What “bucket” does it come out of?)
• 48:42 — anything David would do differently? Why?
• 49:58 — how many properties will it take to achieve $120,000 in passive income?

Keen to Get Started with Money SMARTS like David?

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It turns out a bag of M&Ms has the power to build a passive income…

Sure, there’s a few more steps to get from “A bag of M&Ms” to “A passive income”… but you can bet on the fact that it does NOT take away from today’s epic story line!

And it’s one heck of an epic storyline that involves not JUST a packet of chocolates… but also 50 cents… a half-year-long sabbatical and… wait for it…. a property portfolio consisting of only TWO INVESTMENT PROPERTIES that will deliver $120,000 passive income in retirement!!!

Spoiler alert: today’s guest Keno Diamante is about to tell you exactly why planning ahead WILL change the game for you! And why is he in a position to share this story?? Well folks, he’s walking proof of it!

Another ripper episode in our Summer Series that can’t be missed. Hear it straight from the mouths of the folks who’ve gone and put their knowledge into action!

Before we get to the awesome chat with Keno today, here’s a quick message to all Queensland Property Owners. The Queensland Government has proposed changes to the rental tenancy legislation and you only have until 5pm, Saturday 28 December 2019 to have a say. So it’s imperative to act now and ensure property investors are heard on an issue that will affect your financial security. To help you make your submission below are the guide from PICA or you can also click here for a step-by-step instructions. You can also cut and paste the information below or make amendments as you see fit:

• Click on this link here to open your word submission document. Give it a name- ie “John Smith’s submission form” and add your name to the bottom of the submission. Save it in your computer.
• Click on this link https://www.yoursayhpw.engagementhq.com/give-feedback-renting-in-qld/survey_tools/written-submissions-renting-in-qld
• You’ll need to create an account for the submission. Click on “Register”
• Fill in the Registration form and click “Register”.
• Next is to activate your account. Log in to your email and click on the link provided.
• You’ll be redirected to a confirmation page. Click on “Continue”
• You’ll start to see a series of fields. If you’d like a sample from PICA’s submission, please click here to download the sample.
• On Question 15, click on “Choose file…” and look for the submission form that you’ve saved on your computer. Click on “Open” and that will attach the file.
• Click on “Submit”

Your Free Resources

• Episode 157 | 7 Reasons Why Investors Should Think Like Ants
• FREE BOOK (Physical copy) – The Armchair Guide to Property Investing
• FREE BOOK (PDF version) – Make Money Simple Again
• TPC Binge Guide – The Best Bits From The First Twenty Episodes

The Gold Covered in This Episode…

• The Most Important Bag of M&Ms Ever: A True Story of Delayed Gratification
• How is having 3 kids considered conservative and risk adverse?
• Why can two properties be enough to achieve a passive income?
• What money systems were Keno and Michelle they using before Money SMARTS?
• How do you organise surprise gifts if you’re sharing a 7 Day Float with your partner?
• If you aren’t comfortable with numbers, what advice can you get?
• How can you afford a wedding AND six months off work?
• What retirement age are we looking at here?
• Building a Passive Income in your thirties…

Quote of The Episode

“Imperfect action beats perfect inaction.”

Keen to Get Started with Money SMARTS like Keren?

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