Not every money decision looks smart on a spreadsheet, but that doesn’t always mean it was a mistake.

 

In this episode we unpack the so-called “dumb” money decisions people make (Scott included) and why some of them are still worth it. From spending on experiences, taking career risks, helping family, buying convenience or choosing joy over optimisation, we explore the difference between careless spending and conscious spending.

 

This is a lighter, honest conversation about money choices, hindsight, values and the lessons that come from decisions we probably wouldn’t reverse, even if they weren’t perfectly rational.

 

Thanks for listening!  We love your support, please subscribe, review, comment and share this episode to help empower and educate more folks around the money stuff!

 

Check out more about us here:

www.moneymechanics.com.au

www.scottmalcolm.com.au

Check out our Financial Service Guide and Privacy Policy here.

 

Follow and like us on socials:

Instagram: @moneymechanics

Twitter: @moneymechanics

 

Money Mechanics Pty Ltd (ABN 64 136 066 272) is a Corporate Authorised Representative of Infocus Securities Australia Pty Ltd (ABN 47 097 797 049) AFSL and Australian Credit Licence No. 236523

 

General Advice Warning Information in this podcast has been prepared for general information purposes only and not as specific advice to any particular person. 

 

Any advice contained is General Advice and does not take into account any person's particular investment objectives, financial situation and particular needs.  Before making an investment decision based on this advice you should consider, with or without the assistance of a qualified adviser, whether it is appropriate to your particular investment needs, objectives and financial circumstances.  Past performance of financial products is no assurance of future performance.  Product Disclosure Statements contain information necessary for you to make a decision whether or not to invest in financial products which may be mentioned in this podcast.  

Not every money decision looks smart on a spreadsheet, but that doesn&rsquo;t always mean it was a mistake.
&nbsp;
In this episode we unpack the so-called &ldquo;dumb&rdquo; money decisions people make (Scott included) and why some of them are still worth it. From spending on experiences, taking career risks, helping family, buying convenience or choosing joy over optimisation, we explore the difference between careless spending and conscious spending.
&nbsp;
This is a lighter, honest conversation about money choices, hindsight, values and the lessons that come from decisions we probably wouldn&rsquo;t reverse, even if they weren&rsquo;t perfectly rational.
&nbsp;
Thanks for listening!&nbsp; We love your support, please subscribe, review, comment and share this episode to help empower and educate more folks around the money stuff!
&nbsp;
Check out more about us here:
<a href="http://www.moneymechanics.com.au">www.moneymechanics.com.au</a>
<a href="http://www.scottmalcolm.com.au">www.scottmalcolm.com.au</a>
<a href="https://www.platformplus.com.au/OfficeLegal.aspx?t=ozltyLOCOx3CUEprGCaV%2fv0Y5Vt2DhXlheKWWnXu7ziOrbFGhs4OES6xbWD9dkK4zsu%2bH9MFqmSRctEzB6KzTw%3d%3d">Check out our Financial Service Guide and Privacy Policy here.</a>
&nbsp;
Follow and like us on socials:
Instagram:&nbsp;<a href="https://www.instagram.com/moneymechanics/">@moneymechanics</a>
Twitter:&nbsp;<a href="https://twitter.com/MoneyMechanics">@moneymechanics</a>
&nbsp;
Money Mechanics Pty Ltd (ABN 64 136 066 272) is a Corporate Authorised Representative of Infocus Securities Australia Pty Ltd (ABN 47 097 797 049) AFSL and Australian Credit Licence No. 236523
&nbsp;
General Advice Warning&nbsp;Information in this podcast has been prepared for general information purposes only and not as specific advice to any particular person.&nbsp;
&nbsp;
Any advice contained is General Advice and does not take into account any person's particular investment objectives, financial situation and particular needs. &nbsp;Before making an investment decision based on this advice you should consider, with or without the assistance of a qualified adviser, whether it is appropriate to your particular investment needs, objectives and financial circumstances. &nbsp;Past performance of financial products is no assurance of future performance. &nbsp;Product Disclosure Statements contain information necessary for you to make a decision whether or not to invest in financial products which may be mentioned in this podcast. &nbsp;

As human beings we share a commonality.  We are all born into the financial system in which we live.  On a daily basis we make decisions on how we earn, spend, save, invest and give away our money as well as how willing we are to get into debt.

Welcome to Looking Under the Hood – a podcast all about helping you to unpacking money so you can move towards financial freedom.

I’m Scott Malcolm, I’ve always been curious to understand how things work.  When I was a kid there was that one time, I pulled apart our family toaster to see how it worked – sorry again Mum and Dad!

When I became a financial planner – fresh out of Uni in 2000 I had the same desire to get a deep understanding of the money stuff and how to make it work for you.

What I have learnt and seen working with clients is that the Money stuff is no different.  If you have an understanding of how the system works and how you relate to it, you can empower yourself for a better financial future.

My aim of this podcast is to give you money insights as we ‘look under the hood’ and unpack how the financial system works, and provide some stories around clients situations I have worked with over the last few decades to give you greater understanding of you and the money in your life.

We will kick of our first series to look under the hood and unpack money in the context of the Australian financial system.  While tax and retirement systems change between countries the fundamentals and foundations of money are a shared human experience.

Financial planning weather you are doing it yourself or paying for professional advice, is all about having a decision making framework in place to navigate your life transitions as you move through startup phase, accumulation phase and then into retirement or financial freedom phase.

I look forward to taking on you a journey to unpack your money stuff and get the foundations in place to be living your ideal life.

Thanks for listening!  We love your support, please subscribe, review, comment and share this episode to help empower and educate more folks around the money stuff!

_

Money Mechanics Pty Ltd (ABN 64 136 066 272) is a Corporate Authorised Representative of Infocus Securities Australia Pty Ltd (ABN 47 097 797 049) AFSL and Australian Credit Licence No. 236523

General Advice Warning Information in this podcast has been prepared for general information purposes only and not as specific advice to any particular person. 

Any advice contained is General Advice and does not take into account any person's particular investment objectives, financial situation and particular needs.

Before making an investment decision based on this advice you should consider, with or without the assistance of a qualified adviser, whether it is appropriate to your particular investment needs, objectives and financial circumstances.  Past performance of financial products is no assurance of future performance.  Product Disclosure Statements contain information necessary for you to make a decision whether or not to invest in financial products which may be mentioned in this podcast.  

Ideally we suggest you speak with a licensed financial planner and seek out personal advice!

As human beings we share a commonality.&nbsp; We are all born into the financial system in which we live.&nbsp; On a daily basis we make decisions on how we earn, spend, save, invest and give away our money as well as how willing we are to get into debt.
Welcome to Looking Under the Hood &ndash; a podcast all about helping you to unpacking money so you can move towards financial freedom.
I&rsquo;m Scott Malcolm, I&rsquo;ve always been curious to understand how things work.&nbsp; When I was a kid there was that one time, I pulled apart our family toaster to see how it worked &ndash; sorry again Mum and Dad!
When I became a financial planner &ndash; fresh out of Uni in 2000 I had the same desire to get a deep understanding of the money stuff and how to make it work for you.
What I have learnt and seen working with clients is that the Money stuff is no different.&nbsp; If you have an understanding of how the system works and how you relate to it, you can empower yourself for a better financial future.
My aim of this podcast is to give you money insights as we &lsquo;look under the hood&rsquo; and unpack how the financial system works, and provide some stories around clients situations I have worked with over the last few decades to give you greater understanding of you and the money in your life.
We will kick of our first series to look under the hood and unpack money in the context of the Australian financial system.&nbsp; While tax and retirement systems change between countries the fundamentals and foundations of money are a shared human experience.
Financial planning weather you are doing it yourself or paying for professional advice, is all about having a decision making framework in place to navigate your life transitions as you move through startup phase, accumulation phase and then into retirement or financial freedom phase.
I look forward to taking on you a journey to unpack your money stuff and get the foundations in place to be living your ideal life.
Thanks for listening!&nbsp; We love your support, please subscribe, review, comment and share this episode to help empower and educate more folks around the money stuff!
_
Money Mechanics Pty Ltd (ABN 64 136 066 272) is a Corporate Authorised Representative of Infocus Securities Australia Pty Ltd (ABN 47 097 797 049) AFSL and Australian Credit Licence No. 236523
General Advice Warning Information in this podcast has been prepared for general information purposes only and not as specific advice to any particular person.&nbsp;
Any advice contained is General Advice and does not take into account any person's particular investment objectives, financial situation and particular needs.
Before making an investment decision based on this advice you should consider, with or without the assistance of a qualified adviser, whether it is appropriate to your particular investment needs, objectives and financial circumstances. &nbsp;Past performance of financial products is no assurance of future performance. &nbsp;Product Disclosure Statements contain information necessary for you to make a decision whether or not to invest in financial products which may be mentioned in this podcast. &nbsp;
Ideally we suggest you speak with a licensed financial planner and seek out personal advice!

Money Mechanics with Scott Malcolm

Unpacking Dumb Money Decisions We Don't Regret

Every year Budget night brings big headlines, hot takes and a whole lot of confusion. In this episode of the Money Mechanics Podcast, Scott Malcolm CFP® and Ara Jansen unpack the 2026–27 Federal Budget and translate it into real‑world implications for everyday Australians.

We break down the key tax changes in plain English – from income tax cuts and the new “no‑receipts” work deduction, to the Working Australians Tax Offset and what it actually means when an offset is “non‑refundable”. We then move into the big structural shifts: capital gains tax reform, tighter rules on negative gearing, the new 30% minimum tax on discretionary trusts, and what all of this could mean for investors, business owners and family groups.

Scott and Ara also explore the superannuation side of the Budget, including payday super, Division 296 for balances over 3 million, and why some people are suddenly asking if they should move property into an SMSF. Through real‑life style scenarios, they show how these changes might land for a typical family with a home, one investment property and plans for a family trust – and why rushing to restructure purely for tax reasons can backfire.

If you’ve felt overwhelmed, anxious or tempted to make a big move after hearing this year’s Budget coverage, this conversation is for you. No spin, no panic – just clear guidance on what’s changing, who needs to pay attention, and how to use the next couple of years to make calm, intentional decisions.

Thanks for listening!  We love your support, please subscribe, review, comment and share this episode to help empower and educate more folks around the money stuff!

 

Check out more about us here:

www.moneymechanics.com.au

www.scottmalcolm.com.au

Check out our Financial Service Guide and Privacy Policy here.

 

Follow and like us on socials:

Instagram: @moneymechanics

Twitter: @moneymechanics

 

Money Mechanics Pty Ltd (ABN 64 136 066 272) is a Corporate Authorised Representative of Infocus Securities Australia Pty Ltd (ABN 47 097 797 049) AFSL and Australian Credit Licence No. 236523

 

General Advice Warning Information in this podcast has been prepared for general information purposes only and not as specific advice to any particular person. 

 

Any advice contained is General Advice and does not take into account any person's particular investment objectives, financial situation and particular needs.  Before making an investment decision based on this advice you should consider, with or without the assistance of a qualified adviser, whether it is appropriate to your particular investment needs, objectives and financial circumstances.  Past performance of financial products is no assurance of future performance.  Product Disclosure Statements contain information necessary for you to make a decision whether or not to invest in financial products which may be mentioned in this podcast.  

Every year Budget night brings big headlines, hot takes and a whole lot of confusion. In this episode of the Money Mechanics Podcast, Scott Malcolm CFP&reg; and Ara Jansen unpack the 2026&ndash;27 Federal Budget and translate it into real‑world implications for everyday Australians.
We break down the key tax changes in plain English &ndash; from income tax cuts and the new &ldquo;no‑receipts&rdquo; work deduction, to the Working Australians Tax Offset and what it actually means when an offset is &ldquo;non‑refundable&rdquo;. We then move into the big structural shifts: capital gains tax reform, tighter rules on negative gearing, the new 30% minimum tax on discretionary trusts, and what all of this could mean for investors, business owners and family groups.
Scott and Ara also explore the superannuation side of the Budget, including payday super, Division 296 for balances over 3 million, and why some people are suddenly asking if they should move property into an SMSF. Through real‑life style scenarios, they show how these changes might land for a typical family with a home, one investment property and plans for a family trust &ndash; and why rushing to restructure purely for tax reasons can backfire.
If you&rsquo;ve felt overwhelmed, anxious or tempted to make a big move after hearing this year&rsquo;s Budget coverage, this conversation is for you. No spin, no panic &ndash; just clear guidance on what&rsquo;s changing, who needs to pay attention, and how to use the next couple of years to make calm, intentional decisions.
Thanks for listening!&nbsp; We love your support, please subscribe, review, comment and share this episode to help empower and educate more folks around the money stuff!
&nbsp;
Check out more about us here:
<a href="http://www.moneymechanics.com.au">www.moneymechanics.com.au</a>
<a href="http://www.scottmalcolm.com.au">www.scottmalcolm.com.au</a>
<a href="https://www.platformplus.com.au/OfficeLegal.aspx?t=ozltyLOCOx3CUEprGCaV%2fv0Y5Vt2DhXlheKWWnXu7ziOrbFGhs4OES6xbWD9dkK4zsu%2bH9MFqmSRctEzB6KzTw%3d%3d">Check out our Financial Service Guide and Privacy Policy here.</a>
&nbsp;
Follow and like us on socials:
Instagram:&nbsp;<a href="https://www.instagram.com/moneymechanics/">@moneymechanics</a>
Twitter:&nbsp;<a href="https://twitter.com/MoneyMechanics">@moneymechanics</a>
&nbsp;
Money Mechanics Pty Ltd (ABN 64 136 066 272) is a Corporate Authorised Representative of Infocus Securities Australia Pty Ltd (ABN 47 097 797 049) AFSL and Australian Credit Licence No. 236523
&nbsp;
General Advice Warning&nbsp;Information in this podcast has been prepared for general information purposes only and not as specific advice to any particular person.&nbsp;
&nbsp;
Any advice contained is General Advice and does not take into account any person's particular investment objectives, financial situation and particular needs. &nbsp;Before making an investment decision based on this advice you should consider, with or without the assistance of a qualified adviser, whether it is appropriate to your particular investment needs, objectives and financial circumstances. &nbsp;Past performance of financial products is no assurance of future performance. &nbsp;Product Disclosure Statements contain information necessary for you to make a decision whether or not to invest in financial products which may be mentioned in this podcast. &nbsp;

Special Episode: Unpacking Federal Budget 2026: What It Really Means For Your Money

Receiving an inheritance can bring up a mix of emotions, decisions and responsibilities. In this episode of Money Mechanics, Scott and Ara unpack what to think about if money, property or other assets come your way, from pausing before making big decisions to understanding tax, super, debt, investing and family considerations.

 

We also look at the other side of the conversation: how to plan your own giving well. Whether you want to support loved ones, leave a legacy, reduce future stress for your family or make sure your wishes are clearly understood, this episode explores how thoughtful planning can help money move with purpose.

 

A practical conversation about inheritance, estate planning conversations, financial choices and using money in a way that reflects your values.

 

Thanks for listening!  We love your support, please subscribe, review, comment and share this episode to help empower and educate more folks around the money stuff!

 

Check out more about us here:

www.moneymechanics.com.au

www.scottmalcolm.com.au

Check out our Financial Service Guide and Privacy Policy here.

 

Follow and like us on socials:

Instagram: @moneymechanics

Twitter: @moneymechanics

 

Money Mechanics Pty Ltd (ABN 64 136 066 272) is a Corporate Authorised Representative of Infocus Securities Australia Pty Ltd (ABN 47 097 797 049) AFSL and Australian Credit Licence No. 236523

 

General Advice Warning Information in this podcast has been prepared for general information purposes only and not as specific advice to any particular person. 

 

Any advice contained is General Advice and does not take into account any person's particular investment objectives, financial situation and particular needs.  Before making an investment decision based on this advice you should consider, with or without the assistance of a qualified adviser, whether it is appropriate to your particular investment needs, objectives and financial circumstances.  Past performance of financial products is no assurance of future performance.  Product Disclosure Statements contain information necessary for you to make a decision whether or not to invest in financial products which may be mentioned in this podcast.  

Receiving an inheritance can bring up a mix of emotions, decisions and responsibilities. In this episode of Money Mechanics, Scott and Ara unpack what to think about if money, property or other assets come your way, from pausing before making big decisions to understanding tax, super, debt, investing and family considerations.
&nbsp;
We also look at the other side of the conversation: how to plan your own giving well. Whether you want to support loved ones, leave a legacy, reduce future stress for your family or make sure your wishes are clearly understood, this episode explores how thoughtful planning can help money move with purpose.
&nbsp;
A practical conversation about inheritance, estate planning conversations, financial choices and using money in a way that reflects your values.
&nbsp;
Thanks for listening!&nbsp; We love your support, please subscribe, review, comment and share this episode to help empower and educate more folks around the money stuff!
&nbsp;
Check out more about us here:
<a href="http://www.moneymechanics.com.au">www.moneymechanics.com.au</a>
<a href="http://www.scottmalcolm.com.au">www.scottmalcolm.com.au</a>
<a href="https://www.platformplus.com.au/OfficeLegal.aspx?t=ozltyLOCOx3CUEprGCaV%2fv0Y5Vt2DhXlheKWWnXu7ziOrbFGhs4OES6xbWD9dkK4zsu%2bH9MFqmSRctEzB6KzTw%3d%3d">Check out our Financial Service Guide and Privacy Policy here.</a>
&nbsp;
Follow and like us on socials:
Instagram:&nbsp;<a href="https://www.instagram.com/moneymechanics/">@moneymechanics</a>
Twitter:&nbsp;<a href="https://twitter.com/MoneyMechanics">@moneymechanics</a>
&nbsp;
Money Mechanics Pty Ltd (ABN 64 136 066 272) is a Corporate Authorised Representative of Infocus Securities Australia Pty Ltd (ABN 47 097 797 049) AFSL and Australian Credit Licence No. 236523
&nbsp;
General Advice Warning&nbsp;Information in this podcast has been prepared for general information purposes only and not as specific advice to any particular person.&nbsp;
&nbsp;
Any advice contained is General Advice and does not take into account any person's particular investment objectives, financial situation and particular needs. &nbsp;Before making an investment decision based on this advice you should consider, with or without the assistance of a qualified adviser, whether it is appropriate to your particular investment needs, objectives and financial circumstances. &nbsp;Past performance of financial products is no assurance of future performance. &nbsp;Product Disclosure Statements contain information necessary for you to make a decision whether or not to invest in financial products which may be mentioned in this podcast. &nbsp;

Unpacking Inheritance: Receive Well, Give Wisely

Choosing a super fund can feel simple on the surface, until you start comparing fees, performance, insurance, investment options and member services.

 

In this episode we unpack how super comparison tools work, what they can help you see, and where they can fall short. We look at the difference between comparing a fund on headline performance and understanding whether it actually suits your life outcomes, risk profile, time frame, insurance needs and retirement strategy.

 

We also explore “free” super comparison offers. What are they comparing? Who is behind the offer? What information do they need from you? And when does a free comparison become a lead-in to advice, product switching or a sales conversation?

 

A practical guide to using super comparison tools with curiosity, caution and context, so you can ask better questions before making changes to one of your biggest long-term assets.

 

Resources:

https://moneysmart.gov.au/how-super-works/choosing-a-super-fund

https://www.ato.gov.au/single-page-applications/yoursuper-comparison-tool

 

Thanks for listening!  We love your support, please subscribe, review, comment and share this episode to help empower and educate more folks around the money stuff!

 

Check out more about us here:

www.moneymechanics.com.au

www.scottmalcolm.com.au

Check out our Financial Service Guide and Privacy Policy here.

 

Follow and like us on socials:

Instagram: @moneymechanics

Twitter: @moneymechanics

 

Money Mechanics Pty Ltd (ABN 64 136 066 272) is a Corporate Authorised Representative of Infocus Securities Australia Pty Ltd (ABN 47 097 797 049) AFSL and Australian Credit Licence No. 236523

 

General Advice Warning Information in this podcast has been prepared for general information purposes only and not as specific advice to any particular person. 

 

Any advice contained is General Advice and does not take into account any person's particular investment objectives, financial situation and particular needs.  Before making an investment decision based on this advice you should consider, with or without the assistance of a qualified adviser, whether it is appropriate to your particular investment needs, objectives and financial circumstances.  Past performance of financial products is no assurance of future performance.  Product Disclosure Statements contain information necessary for you to make a decision whether or not to invest in financial products which may be mentioned in this podcast.  

Choosing a super fund can feel simple on the surface, until you start comparing fees, performance, insurance, investment options and member services.
&nbsp;
In this episode we unpack how super comparison tools work, what they can help you see, and where they can fall short. We look at the difference between comparing a fund on headline performance and understanding whether it actually suits your life outcomes, risk profile, time frame, insurance needs and retirement strategy.
&nbsp;
We also explore &ldquo;free&rdquo; super comparison offers. What are they comparing? Who is behind the offer? What information do they need from you? And when does a free comparison become a lead-in to advice, product switching or a sales conversation?
&nbsp;
A practical guide to using super comparison tools with curiosity, caution and context, so you can ask better questions before making changes to one of your biggest long-term assets.
&nbsp;
Resources:
<a href="https://moneysmart.gov.au/how-super-works/choosing-a-super-fund">https://moneysmart.gov.au/how-super-works/choosing-a-super-fund</a>
<a href="https://www.ato.gov.au/single-page-applications/yoursuper-comparison-tool">https://www.ato.gov.au/single-page-applications/yoursuper-comparison-tool</a>
&nbsp;
Thanks for listening!&nbsp; We love your support, please subscribe, review, comment and share this episode to help empower and educate more folks around the money stuff!
&nbsp;
Check out more about us here:
<a href="http://www.moneymechanics.com.au">www.moneymechanics.com.au</a>
<a href="http://www.scottmalcolm.com.au">www.scottmalcolm.com.au</a>
<a href="https://www.platformplus.com.au/OfficeLegal.aspx?t=ozltyLOCOx3CUEprGCaV%2fv0Y5Vt2DhXlheKWWnXu7ziOrbFGhs4OES6xbWD9dkK4zsu%2bH9MFqmSRctEzB6KzTw%3d%3d">Check out our Financial Service Guide and Privacy Policy here.</a>
&nbsp;
Follow and like us on socials:
Instagram:&nbsp;<a href="https://www.instagram.com/moneymechanics/">@moneymechanics</a>
Twitter:&nbsp;<a href="https://twitter.com/MoneyMechanics">@moneymechanics</a>
&nbsp;
Money Mechanics Pty Ltd (ABN 64 136 066 272) is a Corporate Authorised Representative of Infocus Securities Australia Pty Ltd (ABN 47 097 797 049) AFSL and Australian Credit Licence No. 236523
&nbsp;
General Advice Warning&nbsp;Information in this podcast has been prepared for general information purposes only and not as specific advice to any particular person.&nbsp;
&nbsp;
Any advice contained is General Advice and does not take into account any person's particular investment objectives, financial situation and particular needs. &nbsp;Before making an investment decision based on this advice you should consider, with or without the assistance of a qualified adviser, whether it is appropriate to your particular investment needs, objectives and financial circumstances. &nbsp;Past performance of financial products is no assurance of future performance. &nbsp;Product Disclosure Statements contain information necessary for you to make a decision whether or not to invest in financial products which may be mentioned in this podcast. &nbsp;

Unpacking Dumb Money Decisions We Don't Regret

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