Welcome to How Do They Afford That? The podcast that peaks into the financial lives of everyday Australians. I'm Michael Thompson. I'm an author and co host of the podcast Fear and Greed business news. As always, I'm with Canna Campbell, financial planner and the founder of Sugar Mama TV, which is the financial literacy platform that you'll find on Instagram and TikTok and podcasts, books, threads everywhere. Really, Hello, Canna, Hello, good morning, Hello, Hello. Today a slightly personal one for me because recently we met with our financial planner who was terrific and I'm sure you're very happy to hear that. We're so happy finally kind of doing something and she's terrific. She asked a whole bunch of questions and she really got us thinking right, thinking about kind of where we want to go with our finances, how we want to live into the future, kind of even as far ahead as retirement, and kind of what we want to do, how much money we need in retirement, all of this. But what I realized while we were preparing for this meeting was just how much I had my head in the sand. I suppose when it comes to my finances for quite some time, despite doing this podcast. I know you tell me most weeks that my head has been in the sand, and in fact you have been imploring me, begging me to remove it from said sand. But it was just like things like not paying attention to where money was going, putting a lot of things into the too hard basket and making this is not going to surprise you, making a lot of assumptions about how difficult it was going to be, and in reality it was not actually that hard money that Okay, So there's going to be a lot of attitude in today's episode. Today it's all about what to do when you've got your head in the sand over your money.

Welcome to How Do They Afford That? The podcast that peaks into the financial lives of everyday Australians. I'm Michael Thompson. I'm an author and co host of the podcast Fear and Greed business news. As always, I'm with Canna Campbell, financial planner and the founder of Sugar Mama TV, which is the financial literacy platform that you'll find on Instagram and TikTok and podcasts, books, threads everywhere. Really, Hello, Canna, Hello, good morning, Hello, Hello. Today a slightly personal one for me because recently we met with our financial planner who was terrific and I'm sure you're very happy to hear that. We're so happy finally kind of doing something and she's terrific. She asked a whole bunch of questions and she really got us thinking right, thinking about kind of where we want to go with our finances, how we want to live into the future, kind of even as far ahead as retirement, and kind of what we want to do, how much money we need in retirement, all of this. But what I realized while we were preparing for this meeting was just how much I had my head in the sand. I suppose when it comes to my finances for quite some time, despite doing this podcast. I know you tell me most weeks that my head has been in the sand, and in fact you have been imploring me, begging me to remove it from said sand. But it was just like things like not paying attention to where money was going, putting a lot of things into the too hard basket and making this is not going to surprise you, making a lot of assumptions about how difficult it was going to be, and in reality it was not actually that hard money that Okay, So there's going to be a lot of attitude in today's episode. Today it's all about what to do when you've got your head in the sand over your money.

I'm hoping from today's episode, by people hearing what I have to say, they will have this awareness and they will quickly pull their head out from the sound.

I'm hoping from today's episode, by people hearing what I have to say, they will have this awareness and they will quickly pull their head out from the sound.

Yeah, and look, I think a lot of people are in this same boat, because really everyone is so busy. Life is so so busy, and the thing that you hear about all the time is kind of life admin. It just keeps on piling up, and then you've got your work on top of that, you've got family on top of that, you've got all of this kind of thing, and something that seems to get pushed to the back burner a lot is money. It's just about getting by, and it is just about making sure you're paying the mortgage and paying the rent and paying for your grocery bills every week. And there isn't this kind of long term planning because it is more than you can kind of handle. I'm clearly speaking from experience on this one. Why do people ignore their finances? Is it just because we're too busy?

Yeah, and look, I think a lot of people are in this same boat, because really everyone is so busy. Life is so so busy, and the thing that you hear about all the time is kind of life admin. It just keeps on piling up, and then you've got your work on top of that, you've got family on top of that, you've got all of this kind of thing, and something that seems to get pushed to the back burner a lot is money. It's just about getting by, and it is just about making sure you're paying the mortgage and paying the rent and paying for your grocery bills every week. And there isn't this kind of long term planning because it is more than you can kind of handle. I'm clearly speaking from experience on this one. Why do people ignore their finances? Is it just because we're too busy?

Look, there's no straightforward answer really, but you know, I would say sometimes people are scared, they're actually worried about what they're going to find sore it's not there, and they just continue on burying their head in the sand, or they feel completely overwhelmed, like like yourself. You know, you thought it was going to be really complicated, it was going to take hours, and it could be too hard and you'd come out more confused and stressed or take up too much time then you actually discovered yourself. Or quite often I think, and this is what I can sometimes fall into, is a lack of urgency or reason. You know, if things are just bubbling along, ticking along, nicely, even not necessarily perfectly, but you know, they're always able to meet the bills. They've always got enough emergency money. You don't really have that call to action. You don't have that firecracker to go, oh my gosh, we need to fix their finances, and you can very easily fall into that Oh look, I'll deal with it later because things are actually fine. There's no red flags coming up the room financial trouble. What the problem is is actually they're missing out on amazing opportunities to achieve more and do bigger and better things with their financial wellbeing and raise their mention march or financial wellbeing. And then, of course, finally the common one is avoidance, which is avoidance is easier so short term really from just completely avoiding the problem feels better than actually facing it, but obviously that is only a temporary fix. In reality, the more you do this by just burying ahead and the sand, the bigger and the more expensive that particular problem can come with much more serious long term repercussions.

Look, there's no straightforward answer really, but you know, I would say sometimes people are scared, they're actually worried about what they're going to find sore it's not there, and they just continue on burying their head in the sand, or they feel completely overwhelmed, like like yourself. You know, you thought it was going to be really complicated, it was going to take hours, and it could be too hard and you'd come out more confused and stressed or take up too much time then you actually discovered yourself. Or quite often I think, and this is what I can sometimes fall into, is a lack of urgency or reason. You know, if things are just bubbling along, ticking along, nicely, even not necessarily perfectly, but you know, they're always able to meet the bills. They've always got enough emergency money. You don't really have that call to action. You don't have that firecracker to go, oh my gosh, we need to fix their finances, and you can very easily fall into that Oh look, I'll deal with it later because things are actually fine. There's no red flags coming up the room financial trouble. What the problem is is actually they're missing out on amazing opportunities to achieve more and do bigger and better things with their financial wellbeing and raise their mention march or financial wellbeing. And then, of course, finally the common one is avoidance, which is avoidance is easier so short term really from just completely avoiding the problem feels better than actually facing it, but obviously that is only a temporary fix. In reality, the more you do this by just burying ahead and the sand, the bigger and the more expensive that particular problem can come with much more serious long term repercussions.

You said something interesting there about kind of just time time being one of the big kind of challenges. Does that mean then that we should be prioritizing this and setting aside time for this and treating it with the same importance as say, going to work or kind of cooking dinner or something that you should be kind of going. Okay, our money, our finances and securing our financial future is just as important as everything else. We need to carve out that time.

You said something interesting there about kind of just time time being one of the big kind of challenges. Does that mean then that we should be prioritizing this and setting aside time for this and treating it with the same importance as say, going to work or kind of cooking dinner or something that you should be kind of going. Okay, our money, our finances and securing our financial future is just as important as everything else. We need to carve out that time.

Yes, this is financial well being that we're talking about here.

Yes, this is financial well being that we're talking about here.

Does that mean then that you kind of prioritize it alongside your fitness because it does contribute to your mental health and your this sense of well being that you have. Do you kind of Hey, if you can spare kind of forty five minutes to go to the gym or something, or to go for a walk, you should be trying to carve out that same time to get your money sorted. Well.

Does that mean then that you kind of prioritize it alongside your fitness because it does contribute to your mental health and your this sense of well being that you have. Do you kind of Hey, if you can spare kind of forty five minutes to go to the gym or something, or to go for a walk, you should be trying to carve out that same time to get your money sorted. Well.

It's like, well, how much do you want, like how much financial wellness do you want it in your life? It's exactly the same principle with how fit do you want to be? Do you want to be fit? Do you want to be strong to be able to go run in a marathon? If your answer is yes, you've got to step it up. You know that means I need to go to the gym or often it means I need to run further or faster, I need to maybe do more weights. I maybe you need to include a yoga session, just give my muscles, you know, a stretch and relief. The same with financial wellbeing. If you want to have financial harmony, you want to make sure that your mortgage is coming down, your investment portfolio is going up, your retirement is looking like it's going to be long and luxurious, You're properly protected. You've got to put the effort in there. You know, what you put in is what you'll get out. So yes, just like we know we need to take our medication or vitamins, or eat a nutritious balanced diet, go to the gym, get sunlight, being amongst nature, financial wellness comes in here. And this is why I'm so passionate about financial wellness. And I think what was my biggest calling in the world of financial planning is fincial stress acts like a parasite into so many other areas of our lives. But yes, this is you know, until people are aware of that, they continue to bury their head in the sand.

It's like, well, how much do you want, like how much financial wellness do you want it in your life? It's exactly the same principle with how fit do you want to be? Do you want to be fit? Do you want to be strong to be able to go run in a marathon? If your answer is yes, you've got to step it up. You know that means I need to go to the gym or often it means I need to run further or faster, I need to maybe do more weights. I maybe you need to include a yoga session, just give my muscles, you know, a stretch and relief. The same with financial wellbeing. If you want to have financial harmony, you want to make sure that your mortgage is coming down, your investment portfolio is going up, your retirement is looking like it's going to be long and luxurious, You're properly protected. You've got to put the effort in there. You know, what you put in is what you'll get out. So yes, just like we know we need to take our medication or vitamins, or eat a nutritious balanced diet, go to the gym, get sunlight, being amongst nature, financial wellness comes in here. And this is why I'm so passionate about financial wellness. And I think what was my biggest calling in the world of financial planning is fincial stress acts like a parasite into so many other areas of our lives. But yes, this is you know, until people are aware of that, they continue to bury their head in the sand.

What I particularly like about listening to you say this is that you are saying this, there's a little bit of frustration in it, but there's no judgment in it, which I think is kind of And that's the financial planner coming through that. Yes, you understand that people do this and that this is the reality of life that a lot of people do not prioritize money, But you're not actually judging me for that so much.

What I particularly like about listening to you say this is that you are saying this, there's a little bit of frustration in it, but there's no judgment in it, which I think is kind of And that's the financial planner coming through that. Yes, you understand that people do this and that this is the reality of life that a lot of people do not prioritize money, But you're not actually judging me for that so much.

Absolutely not, because you're innocent here. This is probably the only time I'll ever say that you are innocent.

Absolutely not, because you're innocent here. This is probably the only time I'll ever say that you are innocent.

Here, and you're doing it while the tape is rolling.

Here, and you're doing it while the tape is rolling.

Everyone can listen to me being nice for about ten seconds. But like you want to know, it's like someone who has never been taught how to eat healthily and they eat, you know, it's fizzy drinks and please and fried food all the time because no one's ever actually taught them that's actually really bad for your cholesterol and your heart and you know, your kidneys and live it like they didn't know. So why would you go and blame someone? Yeah, you know, this is why I said at the beginning of this episode, I really hope that this creates awareness. People go, wow, I fitn't into that. That sounds a little bit like me, and it is serious. People ud saying the longer you delay it, the more expensive the problem is going to be, or the longer it's going to take to fix it, or you know, the more risk that's potentially needed to take to fix it.

Everyone can listen to me being nice for about ten seconds. But like you want to know, it's like someone who has never been taught how to eat healthily and they eat, you know, it's fizzy drinks and please and fried food all the time because no one's ever actually taught them that's actually really bad for your cholesterol and your heart and you know, your kidneys and live it like they didn't know. So why would you go and blame someone? Yeah, you know, this is why I said at the beginning of this episode, I really hope that this creates awareness. People go, wow, I fitn't into that. That sounds a little bit like me, and it is serious. People ud saying the longer you delay it, the more expensive the problem is going to be, or the longer it's going to take to fix it, or you know, the more risk that's potentially needed to take to fix it.

You probably could afford to be a little bit more judgmental with me, considering I've been across from you in this studio now for what one hundred and thirty episodes or something, so I don't think I have that same ignorance kind of excuse.

You probably could afford to be a little bit more judgmental with me, considering I've been across from you in this studio now for what one hundred and thirty episodes or something, so I don't think I have that same ignorance kind of excuse.

Well that ten seconds now is officially over. I can be back to being a little bit of a bitch to you.

Well that ten seconds now is officially over. I can be back to being a little bit of a bitch to you.

Now, Wow, a little bit judgmental. Is this kind of head in the sand approach more common with certain aspects of your money? Like is it kind of say, credit card debt because you just don't want to know about it, or is it about investing because it feels too hard, or is it superannuation because it kind of happens automatically. Your pay is automatically going in there and it just kind of just builds up in the background and you just like, Okay, that's fine, I don't need to do anything. Technically.

Now, Wow, a little bit judgmental. Is this kind of head in the sand approach more common with certain aspects of your money? Like is it kind of say, credit card debt because you just don't want to know about it, or is it about investing because it feels too hard, or is it superannuation because it kind of happens automatically. Your pay is automatically going in there and it just kind of just builds up in the background and you just like, Okay, that's fine, I don't need to do anything. Technically.

No, there are lots of areas where people bury there head in the sands, so they may have one or two or three or four areas in their lives financially that's going on, and there's one particular ERAa they just ignore. So you know, of course, there is a classic one like credit card debt and buy now, pay later, and you just think, I'll just pay the minimum and deal with that problem later. There's also superannuation, which I think is a lot more unspoken than what we realize, and where people think, oh, why do I worry about my super I'm not going to retire for another thirty years, you know, my future meet can like figure this out close to the time, and that's probably the worst thing you could possibly do. And then there's you know, things like coming into our budgets where we're not checking our subscriptions and those direct debits and we think, oh, it's no big deal. It's ten dollars a month, or it's twenty dollars a month, you know, not doesn't really cost me much. But in fact, over the course of a year or a couple of years, that can really add up to be a large amount of money. That's money that could actually be used to put towards financial goals like paying off debt. You know, putting money to super investing that money. And on that topic of investing, people think, oh, you know what, I've got my super sorted. You know, I've got my mortgage, it's coming down, I've sticked my budget. I don't really have any problems with my credit cards. I don't understand investing, though, so I'm not going to bother even trying that until you know, I know what I want to invest in, what I want to buy. But the thing is they don't actually put any time into learning about investing, so it never actually happens, again burying the head in the sand. And then and finally, I think another one I see is insurance, and you might be someone like this. I'm going to suspect you would have been before you saw the financial planner, but not really knowing what insurance cover you've got in place. Now most people know they've got you know, home and contents for example, or current insurance. But do you know how much you're covered for? Do you know what the excess is? Do you know what you're paying? Do you know if there's any exclusions? And then I don't want to open up account of worms here, But what about your life insurance? How much life insurance have you got? Is it the right level of cover? And you know, did you have other little bits of cover like accidental cover off a random credit card footing around somewhere else, or do you have a couple of old superannuation accounts that also have life in DPD cover?

No, there are lots of areas where people bury there head in the sands, so they may have one or two or three or four areas in their lives financially that's going on, and there's one particular ERAa they just ignore. So you know, of course, there is a classic one like credit card debt and buy now, pay later, and you just think, I'll just pay the minimum and deal with that problem later. There's also superannuation, which I think is a lot more unspoken than what we realize, and where people think, oh, why do I worry about my super I'm not going to retire for another thirty years, you know, my future meet can like figure this out close to the time, and that's probably the worst thing you could possibly do. And then there's you know, things like coming into our budgets where we're not checking our subscriptions and those direct debits and we think, oh, it's no big deal. It's ten dollars a month, or it's twenty dollars a month, you know, not doesn't really cost me much. But in fact, over the course of a year or a couple of years, that can really add up to be a large amount of money. That's money that could actually be used to put towards financial goals like paying off debt. You know, putting money to super investing that money. And on that topic of investing, people think, oh, you know what, I've got my super sorted. You know, I've got my mortgage, it's coming down, I've sticked my budget. I don't really have any problems with my credit cards. I don't understand investing, though, so I'm not going to bother even trying that until you know, I know what I want to invest in, what I want to buy. But the thing is they don't actually put any time into learning about investing, so it never actually happens, again burying the head in the sand. And then and finally, I think another one I see is insurance, and you might be someone like this. I'm going to suspect you would have been before you saw the financial planner, but not really knowing what insurance cover you've got in place. Now most people know they've got you know, home and contents for example, or current insurance. But do you know how much you're covered for? Do you know what the excess is? Do you know what you're paying? Do you know if there's any exclusions? And then I don't want to open up account of worms here, But what about your life insurance? How much life insurance have you got? Is it the right level of cover? And you know, did you have other little bits of cover like accidental cover off a random credit card footing around somewhere else, or do you have a couple of old superannuation accounts that also have life in DPD cover?

Like, can I tell you something? Yeah? Is this this is a confession? Give me father five sin One minute ago, sixty seconds ago, you saw me kind of fiddling with my watch while you were talking, and it was a call that I was receiving, and I hung up on the call, obviously because we're in here recording this podcast. And then a follow up message came through, and it was from my insurer, my life insurer, saying you're about to have a renewal, please call us to review your changes and to review these And you know what I did, I just swiped to dismiss the message and just pushed it straight out of my mind. And then, as though the universe was listening, you looked at me and said, you are probably ignoring your insurance, aren't you. I'm like, how did you know?

Like, can I tell you something? Yeah? Is this this is a confession? Give me father five sin One minute ago, sixty seconds ago, you saw me kind of fiddling with my watch while you were talking, and it was a call that I was receiving, and I hung up on the call, obviously because we're in here recording this podcast. And then a follow up message came through, and it was from my insurer, my life insurer, saying you're about to have a renewal, please call us to review your changes and to review these And you know what I did, I just swiped to dismiss the message and just pushed it straight out of my mind. And then, as though the universe was listening, you looked at me and said, you are probably ignoring your insurance, aren't you. I'm like, how did you know?

I'm very very I have magical.

I'm very very I have magical.

Balance that is quite intense. So yes, instantly, like here if you were talking to me about not having my head in the sand, and I am actively putting it deeper into the sand here in the studio, trying to ignore this part of my finances.

Balance that is quite intense. So yes, instantly, like here if you were talking to me about not having my head in the sand, and I am actively putting it deeper into the sand here in the studio, trying to ignore this part of my finances.

You have two young children, a wife, a mortgage, a cat, a dog, You're self employed, Like insurance is a really important part of your financial wellbeing. I know, I do not know, know, like I hope your financial planet is right onto that you probably haven't told you've been dismissing like this.

You have two young children, a wife, a mortgage, a cat, a dog, You're self employed, Like insurance is a really important part of your financial wellbeing. I know, I do not know, know, like I hope your financial planet is right onto that you probably haven't told you've been dismissing like this.

Well I only dismissed it, what now, two minutes ago, So I've already had one lecture. I do another one. Look, we've used up a lot of time now with all of this. The myths that people tell themselves that keep them stuck in this avoidance mode. What things like everything will be okay, It'll all work itself out in the end, Superms. I'm just telling you what goes through my head on a daily basis.

Well I only dismissed it, what now, two minutes ago, So I've already had one lecture. I do another one. Look, we've used up a lot of time now with all of this. The myths that people tell themselves that keep them stuck in this avoidance mode. What things like everything will be okay, It'll all work itself out in the end, Superms. I'm just telling you what goes through my head on a daily basis.

So in things like, oh, I don't make enough money to actually have a budget, I don't need a budget becuse I have no money, Like that's just ridiculous, or I'll deal with it when I earn more.

So in things like, oh, I don't make enough money to actually have a budget, I don't need a budget becuse I have no money, Like that's just ridiculous, or I'll deal with it when I earn more.

Oh so just pushing it down the road yeah.

Oh so just pushing it down the road yeah.

So you know, we'll let me say for your head. If you're one of those people that says that if you can't manage sixty thousand dollars, are you're not going to be any better at managing one hundred thousand dollars a year, so stop that. It's just a ridiculous, flaky excuse. The other thing is, I'm bad with numbers, so if as long as you have a calculator, you're going to be just fine. And most of the budgeting tools, even the one I do in my budgeting program, it adds it up automatically and also divides it up so it tells you the instructions as to what money goes into which bank account for you, so you don't even need to a calculator. And then of course there is if I don't look at it, it's not real, but spoiler alert, it is very real.

So you know, we'll let me say for your head. If you're one of those people that says that if you can't manage sixty thousand dollars, are you're not going to be any better at managing one hundred thousand dollars a year, so stop that. It's just a ridiculous, flaky excuse. The other thing is, I'm bad with numbers, so if as long as you have a calculator, you're going to be just fine. And most of the budgeting tools, even the one I do in my budgeting program, it adds it up automatically and also divides it up so it tells you the instructions as to what money goes into which bank account for you, so you don't even need to a calculator. And then of course there is if I don't look at it, it's not real, but spoiler alert, it is very real.

So you're saying that not opening letters from your bank doesn't make it go away, and I know you're guilty of that. Yeah, But usually it's just like statements and things, and.

So you're saying that not opening letters from your bank doesn't make it go away, and I know you're guilty of that. Yeah, But usually it's just like statements and things, and.

Statements are kind of important, don't you think, because it lets you know where you stand financially, where your money is, or perhaps where.

Statements are kind of important, don't you think, because it lets you know where you stand financially, where your money is, or perhaps where.

It is not me looking at it isn't going to change the outcome. Oh, instant regret. I'm saying that. Just then I'm like, because it actually does. Looking at it will mean I'm aware of the fees that I'm paying, the interest that I'm paying. I can see how much I paid off, how long I have left to go on the home line. Just open the damn letter. It's like a credit card.

It is not me looking at it isn't going to change the outcome. Oh, instant regret. I'm saying that. Just then I'm like, because it actually does. Looking at it will mean I'm aware of the fees that I'm paying, the interest that I'm paying. I can see how much I paid off, how long I have left to go on the home line. Just open the damn letter. It's like a credit card.

If you don't know how much you own your credit card, I'm pretty much guarantee you're going to go keep spending on your credit card. And also the other one that I see is people saying I will wait until I meet someone to get serious about money.

If you don't know how much you own your credit card, I'm pretty much guarantee you're going to go keep spending on your credit card. And also the other one that I see is people saying I will wait until I meet someone to get serious about money.

Oh really yeah? Oh that no, I know that's a hard one because that's assuming that something is going to happen. And why wouldn't you want to just take control of your own money now exact, so that if you meet someone, then you're going into it in a really good financial position.

Oh really yeah? Oh that no, I know that's a hard one because that's assuming that something is going to happen. And why wouldn't you want to just take control of your own money now exact, so that if you meet someone, then you're going into it in a really good financial position.

And what if they're really there with money? That is just a recipe for disaster.

And what if they're really there with money? That is just a recipe for disaster.

Oh god, Okay, you mentioned the tools and the things that you can use and some kind of practical strategies to start kind of getting some control I want to go into those in a bit more detail, but we will take a quick break first and do it in a second cana. We are talking about what to do if you've got your head in the sand over your finances. We've talked a lot about why people do it and some of the lies and the myths that you tell yourself in order to kind of keep yourself there. What's the first practical step that someone can take when they realize that they have been avoiding their money.

Oh god, Okay, you mentioned the tools and the things that you can use and some kind of practical strategies to start kind of getting some control I want to go into those in a bit more detail, but we will take a quick break first and do it in a second cana. We are talking about what to do if you've got your head in the sand over your finances. We've talked a lot about why people do it and some of the lies and the myths that you tell yourself in order to kind of keep yourself there. What's the first practical step that someone can take when they realize that they have been avoiding their money.

Rip that band aid off immediately. Okay, okay, set aside forty five minutes, put a timer on, make it coffee or a glass of wine. If you really need to and look, sit down and look at your accounts and do a financial stock take. Start small, don't try and fix absolutely everything in one day or even one week. Just even doing a financial stock take and knowing where you stand today is extremely powerful and very effective. As we just spoke about that awareness, So perhaps you know, you go, okay, I'm going to focus on getting my budget done for this week or this weekend, and then next week I'll look at my superannuation. Then of course you've got to completely reframe it, you know, mindset over matter. So doing this is not about punishment, is actually about empowerment. So each step that you take gets you closer and closer to fixing the problem, and you will start to see the stress alleviate, have more controlling your life, and feel a sense of clarity and relief, as well as obviously having direction and purposes. You know what you're going to do for the next couple of weeks. So knowing where you stand and knowing what needs to be fixed as a priority is brilliant.

Rip that band aid off immediately. Okay, okay, set aside forty five minutes, put a timer on, make it coffee or a glass of wine. If you really need to and look, sit down and look at your accounts and do a financial stock take. Start small, don't try and fix absolutely everything in one day or even one week. Just even doing a financial stock take and knowing where you stand today is extremely powerful and very effective. As we just spoke about that awareness, So perhaps you know, you go, okay, I'm going to focus on getting my budget done for this week or this weekend, and then next week I'll look at my superannuation. Then of course you've got to completely reframe it, you know, mindset over matter. So doing this is not about punishment, is actually about empowerment. So each step that you take gets you closer and closer to fixing the problem, and you will start to see the stress alleviate, have more controlling your life, and feel a sense of clarity and relief, as well as obviously having direction and purposes. You know what you're going to do for the next couple of weeks. So knowing where you stand and knowing what needs to be fixed as a priority is brilliant.

Okay, So that's assessing your overall position, and that includes kind of how much debt you have, all of those bits and pieces. You just need to rip the band aid off and just understand where you are and then you can pick the things that need the most urgent attention.

Okay, So that's assessing your overall position, and that includes kind of how much debt you have, all of those bits and pieces. You just need to rip the band aid off and just understand where you are and then you can pick the things that need the most urgent attention.

Right, what's stressing you about the most, I would say, is where you can hone in on immediately?

Right, what's stressing you about the most, I would say, is where you can hone in on immediately?

All right, what if when you're going through this financial stock take, if you find something that is actually quite scary, like I said, suddenly you're doing it and go I've been paying an extraordinary amount of credit card interest every month. How do you deal with that shock for one thing? And how do you stop it from making you just put your head back in the sand, going I can't deal with this, I'm overwhelmed.

All right, what if when you're going through this financial stock take, if you find something that is actually quite scary, like I said, suddenly you're doing it and go I've been paying an extraordinary amount of credit card interest every month. How do you deal with that shock for one thing? And how do you stop it from making you just put your head back in the sand, going I can't deal with this, I'm overwhelmed.

You've got to call it professional. So this is when you make a call to a financial planner or a national helpline, or you go and see a financial advisor or a financial counselor someone that actually is going to give you advice or someone who can talk to you about what your options are, even perhaps a lawyer if so.

You've got to call it professional. So this is when you make a call to a financial planner or a national helpline, or you go and see a financial advisor or a financial counselor someone that actually is going to give you advice or someone who can talk to you about what your options are, even perhaps a lawyer if so.

On that, then the financial planner, what role do they play in kind of resetting your financial mindset When you walk in there and you say, this is what I've discovered. I have kind of realized I've been paying X amount every month in credit card debt. It's getting out of control. A lot of what they do is not just kind of the practical strategies. It's about kind of changing that mindset around it, Isn't.

On that, then the financial planner, what role do they play in kind of resetting your financial mindset When you walk in there and you say, this is what I've discovered. I have kind of realized I've been paying X amount every month in credit card debt. It's getting out of control. A lot of what they do is not just kind of the practical strategies. It's about kind of changing that mindset around it, Isn't.

It absolutely seeing that Okay, all right, it's great that you're discovering this now, not in three years time or five years time, and then talking to you about, all right, let's go through your financial situation. Let's see what we can do to fix this. And this is where I sort of say, like, you know, financial plans are like a swimming coach. They can't swim the laps for you, but they will walk up and down the pool with you as you're doing lap, showing you how to improve your technique can go faster, and they will obviously connect you with the people that can help fix the situation. For example, you might have a credit card debt or hex debt that's just blown out, but you also might have a home loan, so they look at this and go, you know what, there might be an option for you to baby to consolidate this debt back into your home loan. Now, if you do this, you have to be very careful about this because your home loan will go up by this amount, but at least you'll be paying it off now at a lower interest rate. Let me connect to you with a great mortgage broker that will help you do this in the best way possible for you.

It absolutely seeing that Okay, all right, it's great that you're discovering this now, not in three years time or five years time, and then talking to you about, all right, let's go through your financial situation. Let's see what we can do to fix this. And this is where I sort of say, like, you know, financial plans are like a swimming coach. They can't swim the laps for you, but they will walk up and down the pool with you as you're doing lap, showing you how to improve your technique can go faster, and they will obviously connect you with the people that can help fix the situation. For example, you might have a credit card debt or hex debt that's just blown out, but you also might have a home loan, so they look at this and go, you know what, there might be an option for you to baby to consolidate this debt back into your home loan. Now, if you do this, you have to be very careful about this because your home loan will go up by this amount, but at least you'll be paying it off now at a lower interest rate. Let me connect to you with a great mortgage broker that will help you do this in the best way possible for you.

So they will talk you.

So they will talk you.

Through the practical strategies as well as addressing your mindset and a good financial plan or a good mortgage broker will work with you ongoing, so they don't just help you overcome that hurdle. They'll go, great, you paid off that credit card debt that was frightening you. What are we going to do now to make sure that this never happens again? You don't repeat history? And what did you learn from this that we can now maybe look at building up an investment portfolio, or building up emergency money, or perhaps looking at something that includes your superannuation now, so there are steps. It's not a magical overnight financial transformation. Don't ever expect that, because you'll be bitterly disappointed. It is about a journey, an adventure that is sometimes a bit scary and has setbacks and challenges, but you keep going and growing because you're dedicated to actually fixing and coming out to be wealthier.

Through the practical strategies as well as addressing your mindset and a good financial plan or a good mortgage broker will work with you ongoing, so they don't just help you overcome that hurdle. They'll go, great, you paid off that credit card debt that was frightening you. What are we going to do now to make sure that this never happens again? You don't repeat history? And what did you learn from this that we can now maybe look at building up an investment portfolio, or building up emergency money, or perhaps looking at something that includes your superannuation now, so there are steps. It's not a magical overnight financial transformation. Don't ever expect that, because you'll be bitterly disappointed. It is about a journey, an adventure that is sometimes a bit scary and has setbacks and challenges, but you keep going and growing because you're dedicated to actually fixing and coming out to be wealthier.

A lot of people listening to this, though, they would have heard us talking about financial planners and the importance of talking to a financial planner. But the problem is, though, that not everyone has, say, kind of five thousand dollars just lying around for it. And if they are in this position, we know that the financial planner is the gold standard money here, But what if you can't afford it? What if you can't afford a financial planner? Which I do actually need some help. I cannot do this on my own. Are we talking kind of financial counselors for that situation, financial.

A lot of people listening to this, though, they would have heard us talking about financial planners and the importance of talking to a financial planner. But the problem is, though, that not everyone has, say, kind of five thousand dollars just lying around for it. And if they are in this position, we know that the financial planner is the gold standard money here, But what if you can't afford it? What if you can't afford a financial planner? Which I do actually need some help. I cannot do this on my own. Are we talking kind of financial counselors for that situation, financial.

Counselors, and also you know, these days a lot of superinneration companies actually offer general advice as well, and they have various levels of Some of it is paid, but it's heavily discounted, and some of it's free, so you know, and then again there is the library. There are books, there are podcasts, there are so many different resources out there to help you that you can use to get out of the situation and to learn, and really boils down to financial literacy, financial education, understanding money, understanding what a budget is, how it works, how it keeps you know, shopping safe. You know why you should have a financial goal. What are great financial goal is to have and break everything down into bite sized goals.

Counselors, and also you know, these days a lot of superinneration companies actually offer general advice as well, and they have various levels of Some of it is paid, but it's heavily discounted, and some of it's free, so you know, and then again there is the library. There are books, there are podcasts, there are so many different resources out there to help you that you can use to get out of the situation and to learn, and really boils down to financial literacy, financial education, understanding money, understanding what a budget is, how it works, how it keeps you know, shopping safe. You know why you should have a financial goal. What are great financial goal is to have and break everything down into bite sized goals.

All right, So you've got financial planners, you've got financial counselors, you've got a whole lot of different resources. Is the most important thing, though, just to go anyin. No one else can make you do this right. You just need to actually go all right, I'm going to start paying attention.

All right, So you've got financial planners, you've got financial counselors, you've got a whole lot of different resources. Is the most important thing, though, just to go anyin. No one else can make you do this right. You just need to actually go all right, I'm going to start paying attention.

Look, it's about small steps today and that's going to have a huge impact in your financial future. You know, even small savings plans ten dollars a week or small investing plans fifty dollars a month. This really does matter, and this is going to make a difference. And obviously you've got to fix the urgent stuff, the frightening stuff, but don't at your eyedrop of the big picture, which is you living in a financially harmonious world. You know, it's all about heads up, eyes open, and happy wallets. So avoiding your finances is only going to make things so much harder for yourself. And the moment you step up and start paying attention, you're actually taking back control, just like you've done yourself by seeing a financial planner. So for anyone that's listening to this, I have to say, if you've got your head in the sand, this is your sign to start looking up. And you are more than capable of fixing your financial situation and you will never regret doing the work.

Look, it's about small steps today and that's going to have a huge impact in your financial future. You know, even small savings plans ten dollars a week or small investing plans fifty dollars a month. This really does matter, and this is going to make a difference. And obviously you've got to fix the urgent stuff, the frightening stuff, but don't at your eyedrop of the big picture, which is you living in a financially harmonious world. You know, it's all about heads up, eyes open, and happy wallets. So avoiding your finances is only going to make things so much harder for yourself. And the moment you step up and start paying attention, you're actually taking back control, just like you've done yourself by seeing a financial planner. So for anyone that's listening to this, I have to say, if you've got your head in the sand, this is your sign to start looking up. And you are more than capable of fixing your financial situation and you will never regret doing the work.

So saying I should call the insurer back that called me while we're talking, perhaps, okay, maybe I will. It's a good first step. All right, Canna, how do we find you? If we want more information?

So saying I should call the insurer back that called me while we're talking, perhaps, okay, maybe I will. It's a good first step. All right, Canna, how do we find you? If we want more information?

If you ever any questions at all, send me just direct message on Instagram at Trugamma TV or Canna Campbell.

If you ever any questions at all, send me just direct message on Instagram at Trugamma TV or Canna Campbell.

Official and you can hear me every day with Sean Aylmer on Fear and great daily business news for people who make their own decisions. Thank you very much for listening to How Do They Afford That? Remember hit follow on the podcast, and the best thing that you can do is tell somebody else send them this episode. Send them a link to this episode if you think that they might benefit from having a listen to it, spread the word about how do they Afford that? Thank you very much for you company. Join us again next week

Official and you can hear me every day with Sean Aylmer on Fear and great daily business news for people who make their own decisions. Thank you very much for listening to How Do They Afford That? Remember hit follow on the podcast, and the best thing that you can do is tell somebody else send them this episode. Send them a link to this episode if you think that they might benefit from having a listen to it, spread the word about how do they Afford that? Thank you very much for you company. Join us again next week