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Going Against the Greats – Why You Shouldn’t Pay Yourself First!

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Note: This episode is a re-run of one of our older episodes. It originally aired on 8th June 2017 😊  

According to Albert Einstein, “Compound interest is the eighth wonder of the world. He who understands it, earns it…and he who doesn’t, pays it.” 

In this week’s episode, Bryce and Ben discuss the fascinating power of compounding. 

Tune is as they answer listeners’ questions, explain how you benefit from delayed gratification, and share their experiences and advice on property investing! 

   

Free Stuff Mentioned

 

Additional Resources

 

Timestamps

    • 0:00 – Going Against the Greats – Why You Shouldn’t Pay Yourself First 
    • 4:35 – Tom Panos: “80% of winning is beginning” 
    • 5:58 – Mastering the power of money 
    • 6:56 – Listener Question #1 – Chris 
    • 9:09 – Would you prefer $1,000,000 now, or $0.01 today and double it every day for 30 days? 
    • 18:51 – The benefits of delayed gratification 
    • 24:25 – Leverage is the independent umpire 
    • 27:04 – Dud = dead on arrival? 
    • 30:17 – Listener Question #2 – Greg 
    • 30:33 – Why you shouldn’t pay yourself first! 
    • 32:51 – The plastic money world 
    • 33:42 – MoneySMARTS – the holistic approach to managing your money 
    • 36:46 – Ultimately, it’s about making sure you are enjoying life! 
    • 38:16 – The cup size theory… 
    • 40:33 – Plan to become what you plan to become 
    • 42:05 – Advice from Ben & Bryce on whether you should invest in the current market! 
    • 44:10 – LocationScore 
    • 47:22 – Bryce’s Life Hack 

 

482 | Why Your Financial Habits Aren’t Sticking

By in Podcast, Property Investment

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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… 

 

How to Manage your Money in 10 Minutes a Month (On Parenthood Podcast) Part 2

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In this week’s bonus episode, we’re back with Part 2 of Bryce’s appearance on the Parenthood Podcast featuring its Founder and Host, Leonie Akhidenor. 

Continuing last week’s theme, Bryce and Leonie are unpacking how new parents can get onto the property ladder despite today’s high-interest rates and heated property market.

They’ll be exploring Bryce’s fail-proof money management system, deep diving into how folks can use this to manage their money in 10 minutes a month and unpacking the options investors have once they’ve trapped this surplus.  

A super insightful episode that reveals how new investors can afford home ownership. faster. Tune in now!  

  

Free Stuff Mentioned

  • Discover how to start trapping surplus today. Download our best-selling book, Make Money Simple Again (MMSA) for FREE here >>  
  • Once you’ve trapped this surplus, start putting it to work through property! Get MMSA’s sequel, The Armchair Guide to Property Investing here >>   
  • Manage your money in 10 minutes a month! Get Moorr on your desktop or smartphone. Automate our award-winning money management system from our MMSA book: Start trapping more surplus and pay off your mortgage quicker today.  

 

Timestamps  

  • 0:00 – How to Manage your Money in 10 Minutes a Month  
  • 1:12 – How to save for your new family home  
  • 2:06 – Bryce’s fail-proof money saving system  
  • 7:42 – It’s a simple philosophy folks! 
  • 8:40 – How to manage your money in 10 minutes a month 
  • 12:13 – Ideas to get onto the property ladder… 
  • 13:32 – Using rentvesting to afford your dream lifestyle  
  • 14:34 – The pros & cons of Rentvesting  
  • 17:07 – Bryce always recommends doing THIS to avoid giving away money  
  • 18:01 – What to do once you’ve trapped surplus…   
  • 19:07 – Warren Buffet isn’t the best investor. Here’s what he does have.  
  • 21:17 – Here’s a quick win to save more on your mortgage.  

467 | Back To The Future: Are Our 2015 Investing Strategies Still Relevant Today?

By in Podcast, Property Investment

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Folks, it’s time to strap your seatbelts in and tighten your property investing hats because in today’s episode, we’re doing our own Back to the Future with our first-ever Throwback Thursday!! 🔮

We’re revisiting our best property investing strategies and theories from aaallll the way back in 2015 and asking… 

Are they still relevant today?!?  

We’ll be unpacking (Yep, that’s still a favourite word of ours today 😉):  

🛠️ Ep 1. We Fix Bad Property Investment Advice: The two most common regrets we hear and our cornerstone “Barber Analogy”: Is it still applicable or has it become obsolete?!  

🚀 Ep 2. Regulation vs. Education: How has income vs. Property prices changed? And what makes inner land value 3x higher than land further out? 

🏠 Ep 3. The 4 Pillars of Mastery: Do we still use the same process to set investors up for success? And why is MoneySMARTS still extremely relevant today?!  

To hear all of this, plus some of our favourite quotes of all time from these episodes, tune into our first Throwback Thursday now!!  

 

Free Stuff Mentioned

  • We’ve got ONE last spot on our 2024 Summer Series. Share your story with us today! >>  
  • Check out Binge Guide featuring the first 20 episodes here >>  
  • See the graphs from Ben’s What’s Making Property News! Below:  

 

Timestamps

  • 0:00 – Back To The Future: Are Our 2015 Investing Strategies Still Relevant Today?    
  • 2:15 – We’ve got one spot left on our Summer Series!  
  • 3:03 – Mindset Minute: Where the pursuit of Mastery lives…  
  • 7:26 – It’s Throwback Thursday!  
  • 8:55 – Ep 1. We Fix Bad Property Investment Advice  
  • 9:26 – 💈 The Barbershop Analogy 💈 
  • 15:29 – The 2 most common regrets 
  • 16:33 – Is it still relevant today?!?  
  • 19:12 – The Enthusiastic Amateur  
  • 22:40 – “You can get everything you want in life, if you just…”  
  • 26:14 – Ep 2. Regulation vs. Education  
  • 29:09 – These fundamental rules have not changed folks… 
  • 35:58 – The top #3 evergreen quotes 
  • 36:57 – Is buying counter cyclical still a good idea?  
  • 38:21 – What makes this land value three times higher than other land?  
  • 41:36 – Income vs. Property Prices: What’s changed?  
  • 45:55 – We always start with THIS when building our investing strategies… 
  • 47:51 – Ep 3.The 4 Pillars of Mastery  
  • 48:56 – How we set up investors for success  
  • 52:12 – Debt Servicing Debt: Did this theory work?  
  • 54:19 – This is what drove MoneySMARTS… 
  • 58:47 – Our favourite quotes  
  • 59:42 – A moment for Ben 🤗 
  • 1:02:32 – Check out our free Binge Guide! >>  
  • 1:03:09 – Here’s to the Stig ❤️  

And… 

  • 1:04:32 – Lifehack: Table tennis on the dinner table?!  
  • 1:07:27 – WMPN: Why People Invest in Property!  

 

428 | What is your WealthSPEED?

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Why do folks struggle with good money management?   

It’s a huge question. Now here’s an even bigger one… 

How can they overcome it?!   

Yep. We’re kicking off February with some pretty big and bold content!

With many new year’s resolutions fading into the background of life as January comes to an end, we’re aiming to give you an extra boost of motivation by diving into the 3 biggest causes of bad money management (do you fall into any of these?) and revealing how to tackle and triumph these challenges in 2023!  

And since this podcast is all about giving you the insider’s guide to property and money management, we’ve got 3 special gifts from our Moorr money management platform to help you do just that…

Introducing the WealthSPEED, WealthCLOCK and WealthTRACKER.   

Tune in now to find out how these next-generation financial tools will transform the way you view and control your money and let us know your answer to today’s questions…

What is your WealthSPEED??  

(Leave your answer on our socials or send us a message 😉!) 

 

P.S. Want to learn more about these awesome tools? Check out our Moorr Wealth Dashboard “handbook” here >>  

 

Free Stuff Mentioned… 

  • Want to know your WealthSPEED? Find out by visiting Moorr’s web platform, or download the app on Apple and Android and completely transform your understanding of wealth-building today.
  • Learn more about WealthSPEED, WealthCLOCK & WealthTRACKER here >> 
  • [Free Book] Make Money Simple Again: Learn the foolproof money management system we talk about in this week’s episode. We promise you’ll find a surplus in your bank account every single month. Get your copy here >>
  • Exclusive Masterclass: We’ve been receiving so much positive feedback on our new Masterclass! (Thank you to all who’ve attended so far.) Learn the #3 secrets behind building a property portfolio and retiring on $2k a week today by reserving your seat here >> 
  • Sign up to our YouTube Channel: 2023 is the year we’re going to start pumping out tons more educational content! Stay in the loop by joining our YouTube community and be the first to know. 😊
  • Listen to Ep 200 | Paul Clitheroe – Timeless Wisdom from the Original “Money” Guru 

 

Want to work with Bryce & Ben’s Award-Winning Team? 

 

Here’s some of the gold we cover… 

  • 0:00 – Welcome back 😊  
  • 1:14 – Wow, what a series! (+ what’s in store next week…)  
  • 3:59 – February is the perfect space for this. 
  • 5:25 –🚨 Your internal trigger is a powerful thing folks! 🚨  
  • 14:24 – The 3 things you’ll discover in this episode  
  • 18:12 – Why most households are challenged by good money management (Reason #1)
  • 22:22 – Reason #2 – This goes back to what Ben says EVERY episode!! 
  • 25:54 – So, why don’t we learn this at school?!  
  • 30:03 – Reason #3 (aka. The biggest reason why people don’t achieve financial peace)  
  • 33:16 – Subjectivity is where the danger lives folks!  
  • 36:03 – …and THIS is what you gain!  
  • 38:37 – The money management system we started with and still believe in!  
  • 40:22 – WealthSPEED: Your Speedometer 
  • 41:45 – This is your Wealth Creation Car 🚗  
  • 44:28 – Why this is the ONLY financial metric you’ll ever need  
  • 46:51 – How it all began… 
  • 50:01 – WealthCLOCK: Your Odometer 
  • 51:22 – WealthTRACKER: Your GPS  
  • 53:19 – If you are like THIS, then these tools were made for you!!!  
  • 54:04 – How these tools help you SMASH bad money management!  
  • 59:04 – These are the kind of people we’re coming after!  
  • 59:52 – For our clients who’ve got a plan… 
  • 1:02:12 – We want to make money management as simple as possible so check out these resources too!  
  • 1:08:14 – Google Flights: Is it worth the hype? 

 

Discover your WealthSPEED today! Check out the Moorr web platform, or download the app on Apple and Android.  

 

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