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Episode 229 | How to Release Your Money Fears – Chat with Denise Duffield-Thomas

Folks, did you know that almost all of us have buried “bad feels” about money lurking somewhere inside us?? And this contributes — rather significantly — to how we spend and earn our hard earned money… whether we’re aware of it or not!

Ah-huh…. That long-forgotten moment you witnessed when you were five?? … Still remembered! The way your parents spoke about money?? Still remembered! Basically, your psych has stored all your money stories somewhere… and these little tell-tales resurface at the best and worst of times. Say, when you’re putting yet another thing on credit… or refusing to spend a single dollar more than simply surviving. This stuff is not “woo-woo” either folks — it’s legit, and it impacts how each of us responds to and values money… the devil is just in our unique details!

And if there’s one woman who knows ALL about this, it’s a certain someone who wrote a book called —let’s be honest, you’ve probably heard about it — Get Rich Lucky Bitch.

Yep!! Joining us today is Money Mindset Mentor Denise Duffield-Thomas of LuckyBitch.com — aka the woman inspiring, mostly but not exclusively, other women on their very real “money blocks” and how to ditch their fears and simply get on with creating true wealth!! She’s a savvy (but “unbusy”) entrepreneur and the well-respected author of, yes, Get Rich Lucky Bitch as well as Lucky Bitch and most recently, Chillpreneurthe latter, which lets you in on the new rules for creating success, freedom and abundance on your terms!

Now… as two middle-aged fellas who are quick to admit we don’t have all the answers, we’ve gotta hand it to Denise — she, quite literally, is on the money here!! Obviously, we see A LOT of bad money managers and, sure, we’ve got our Money SMARTS Platform to solve this….. but today’s episode is a real eye-opener into WHY people are bad managers and how we (yep… women and men) can reach our absolute potential without lingering on the jitter-bugs from our past!

And folks … you can’t beat an expert in their field who’s “smoking what they’re selling”!!! So, let’s just say… Denise is CLEAR proof of this! Soon you’ll hear just how well her money story’s working out for her … and how you can steal her secrets to success!

Before we crack open the gold, if you’re looking for Julia Hartman’s “Property Tax Pack” that we released last week, you can DOWNLOAD the full Property Tax Q & A from Ep 226 and Ep 228 HERE

Also, Denise has kindly gifted us a copy of Get Rich Lucky Bitch AND her newly-released, Chillpreneur, so if you’re keen to be the Lucky Winner of BOTH BOOKS — Tell us Your #1 Money Block Here for Your Chance to Win!

Here’s what you’ll learn….

Episode 53 | The Money SMARTS System

By now, our listeners should understand the importance of good money management habits. It is the core of building a successful property investment portfolio and has been reiterated multiples times throughout this podcast.

Since episode 3, as part of the Four Pillars of Mastery, Bryce and Ben have talked in various occasions about Cash Flow Management and the flow of money in your household. This includes where money comes from, types of spending and types of investments for your surplus. In episode 41, they talked about the moving parts of cash flow management otherwise known as the money and accumulation model. This model looks at variables and assumptions to consider when you’re modelling sophisticated money and wealth outcomes.

Ep 53 Money SMARTS system - which account do I use - picOn page 58 of the Armchair Guide to Property Investing, they introduced the money SMARTS system. It’s a money management system and the name stands for Surplus, Mindset, Application, Resources, Timelines and Strategy. The book provided an overall summary of each section and also some tips on how you can set up this account structure yourself. But we’ve received some feedback that our readers would like us to explain this little bit more so that is exactly what Bryce and Ben have done in this podcast.

As an extension of the money SMARTS system, we are also sharing a “cheat sheet” on which account to use for different types of expenses. Just fill in your details below and we’ll send you the link to download it.

 

 

Money SMARTS System | Cheat sheet

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If you like this podcast: “The Money SMARTS System”, don’t forget to rate us at our iTunes channel (The Property Couch Podcast) and our Facebook page. If you have any questions or ideas, feel free to drop us your thoughts here: http://tpcaustralia.wpengine.com/topics/

Episode 041 | The Moving Parts of Cash Flow Management (Money & Wealth Accumulation Model)

Money & Wealth Accummulation Model - FinalThis week on The Property Couch, Bryce and Ben discuss about the moving parts of a cash flow management strategy. As compared to Episode 3 (Four Pillars of Mastery – Cash Flow Management) where we talked about the flow of money, this podcast is mainly about the Money and Wealth Accumulation Model. It includes the variables and assumptions to consider when modelling sophisticated wealth outcomes. As this topic can be fairly detailed, we strongly recommend our listeners to have the diagram open while listening to the podcast.

We will also be answering this question from Bradden:
You often refer to paying down debt during your talks as a means of creating passive income. Is there a strategy of paying down debt on your rental properties? Is it just as simple as paying P&I? Do you only start paying down debt once you have finished your accumulation phase? Does this only happen when you start to sell one of your properties? I’m interested in hearing your thoughts on paying down debt.
PS: Ben’s not a bad bloke for a Collingwood supporter.

 

This topic is also discussed in Part Three (Section 10) of our book: The Armchair Guide to Property Investing. For those who have the book, you can also refer to page 219 for additional reference. And here’s the video mentioned in the podcast:

 

 

Free resources mentioned in this podcast:

 

If you like this episode, don’t forget to rate us at our iTunes channel (The Property Couch Podcast) and our Facebook page. Any questions or ideas? Feel free to drop us your thoughts here: http://tpcaustralia.wpengine.com/topics/

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