Life Insurance – What is it and why do you need it!?

This week we are tackling another very important topic, one that everyone needs to consider and given our last conversation was about estate planning, I thought we’d stick with the worst-case-planning theme.  I’ve invited in a friend, former colleague and senior manager at one of Australia’s retail insurance companies, Rachael Harney, to join me in having the life insurance conversation, because let’s face it, these tough conversations are better shared!

We tackle why personal insurances are (very) important to consider, the different types of insurances that are available and what they do, how to know if you’ve got a policy that will pay out, and the importance of seeking the assistance of a financial adviser to help you determine the amount of cover you need and how to best structure it.

It’s a complex area, so we’ve included a handout in the link below to break it down a little further.

P.S Rachael’s employer is in no way affiliated with any part of this episode and she taken part of her own will to share her personal views and experience.

This week we are tackling the extremely important topic of estate planning.  I really wanted to bring you this conversation early in the Savvy Mumma piece so you can start escalating the task on your financial to-do list.

Death is not a topic we really like to think about or talk about. We all know that we should consider a Will or our estate planning needs, especially when we become parents, but it can be a really difficult and confronting task to complete.

Lucy Percy, from Melbourne law firm Head and Heart Estate Planning, joins me today on the podcast to discuss the elements of an estate plan and how to navigate them.   An estate plan extends beyond just creating a Will, there are not only many assets or structures that fall outside the Will, but the process also includes thinking about who and how your children are cared for and giving somebody power to make decisions in the event you are incapacitated.

If this task has been on your to-do list, this episode is a must listen!

Financial Advisers (me being one) talk to you commonly about how to invest your money – but how do you get money to invest in the first place?  It’s by simply having money left over after spending each pay check.  Sounds simple doesn’t it?

But it’s where the majority of us fall down.  We are not taught how to manage our money.  So this week I’m accepting the task of taking you back to basics and giving you my tops tips on the everyday management of your money.

And yep, we cover the very dirty B word (budget) in detail and I’m going to change your view on it. I also answer your common questions on how to navigate a budget (and the money conversation) in your relationship, the place for credit cards and how to make a budget work with irregular income.

You can do this!!!

The great Australian dream is to be a homeowner, but what about being a true homeowner?

Imagine being able to remove the mortgage noose from around your neck and put in place a plan to own that roof over your ahead [outright!] sooner rather than later.

Imagine the additional freedom you would feel being mortgage free, cheaper and quicker.

In this episode with Nicole Pederson-McKinnon, we talk real tips and real numbers and how implementing some simple strategies can take years and thousands of dollars off over the life of your mortgage!  And it doesn’t have to involve depriving your current lifestyle or saving more money, there are many strategies that you can take advantage of that will get you out of debt sooner.

“Women don’t talk about money as money, but we do think about what we can do and what we want for our future.  We certainly don’t want to be trapped doing something we don’t love or in an environment that doesn’t make us happy”

I’m so excited to be bringing you a money conversation with Julia Newbould, the editor at large of Australia’s Money Magazine and co-author of The Joy of Money.  In our chat, we tackle the taboo of money and Julia shares her key lessons and wisdom, covering the basics of managing your money, protecting your money, the importance of being interested in superannuation and what financial freedom is really all about.

Julia is passionate about making the topic of money more freely talked about and she has a real knack for communicating in way that takes the complexity and the jargon out of it.

The Joy of Money is a comprehensive guide designed to bring money to life – to put the joy back into money.  You can find it at most book stores, Big W, booktopia, Bauerbooks and Book Depository. 

There is way more to the KonMari method than neatly folding clothes and after listening to this episode with Sally Flower you will have a greater appreciation for what ‘sparking joy’ and decluttering is all about!  It’s more to do with mindset, gaining clarity on how you want to live your life and what’s important to you which leads ultimately to you being more conscious and intentional with the things you do and don’t need.

And where does this fit with the money conversation you ask?  You will have the power to say no to unnecessary consumerism and your bank account will be thanking you!

Sally Flower is the first Australian trained by Marie Kondo in the famous KonMari Method.  Her business Home Sanctuary is built on the solid foundation of her love for the environment and passion for reducing consumerism.  Sally’s goal is to change the way we purchase, to motivate and help the community to make purposeful choices that inspire us to live as the best version of ourselves.

You can find Sally on instagram, facebook  and you can also subscribe to Sally’s newsletter for fortnightly home wellness insights, ideas and updates.

Values and Purpose – How does this fit into a financial plan? It’s got to be the starting point! By knowing what’s important to you and what you are striving for is what will allow you to succeed and feel a sense of achievement.

In this interview with Shannah, we tackle the importance of purpose and values in our lives. We demystify what it’s all about, provide simple strategies on how to define them and uncover why it’s so pivotal in creating a life plan and a financial plan.

We talk about the importance of having a clear vision and connecting to the journey you are on and why your values are the critical thing that will guide you to make decisions. Shannah is all about helping people create a plan where they don’t feel ‘trapped’, and they come out knowing what they are working and savings towards and why they won’t fail!

Shannah Kennedy is a leading life coach here in Australia, an international key-note speaker and best selling author. Her books ‘The Life Plan’ and ‘Simplify, Structure, Succeed’ can be found at major book stores or on Booktopia.

You can find out more about Shannah at www.shannahkennedy.com

Shannah’s the Values Game exercise and moneymode’s Kick-start course are some resources that might help you on your journey!