Money: Faith & Finance

You are going to want to take notes. Pete provides plenty of ways to cut costs – by letting us know what we should be auditing every year (or more often). Key Takeaways: Annual financial checkups are essential for effective money management and should involve reviewing all expenses and bills. Proactively asking for better prices or researching provider alternatives can lead to significant savings without sacrificing quality. Understanding the importance of balancing time versus potential financial savings is crucial for effective personal finance management. Creating a “financial toolkit” can help structure the processes needed to make informed financial decisions regularly. Complacency can harm financial health; staying informed and active in challenging existing costs regularly is beneficial. Notable Quotes: "You can't correct it if you don't check it." "If you care about where your money goes and what you're spending on, you should check your bills at least annually." "A bit like going to the doctor, you're hopefully healthy and eating healthy [...] once a year you might go to the doctor and say, how am I really doing?" "I've never seen anybody go, 'You know what, just for hanging around here's a discount.' You don't get anything without asking." "You need to look at the bills, not just pay them." Join the Money: Faith and Finance Group on Facebook here!We love your questions. Contact the Money: Faith and Finance team and we will aim to get back to you in a future episode.  Pete Burrows is an accountant for small business and individuals with Lower Russell and Farr in Penrith, Western Sydney, Australia.Ben McEachen hosts Hope Mornings on Hope 103.2FM in Sydney, Australia.Support the show, a product of Hope Media: https://hope1032.com.au/donate/2211A-pod/See omnystudio.com/listener for privacy information.

Ever been on hold with a call centre about a financial issue that you didn't create? When you finally get through, did things get better – or worse? Our special guest, influencer Jordana Brown ("That British Girl"), had a stressful situation with Centrelink that went viral. She tells Pete and Ben about trying to navigate bureaucracy, standing up for what's right and how faith and kindness improve terrible exchanges.   Jordana Brown is an influential social media personality known as "That British Girl" on platforms like Instagram, TikTok, and Facebook. Before becoming an influencer, Jordana worked extensively in the production field, spending over 15 years behind the camera in a major UK church. Jordana currently hosts the Morning Wake-up Show on Salt1065 on Australia’s Sunshine Coast. Key Takeaways: Jordana Brown's Journey: Discover how Jordana moved from behind the scenes in production to becoming a prominent influencer and radio host. Navigating Bureaucracy: Learn about Jordana's challenging experience with Centrelink, highlighting the importance of perseverance and clarity in dealing with life admin. The Role of Empathy: Maintaining politeness and empathy – even in frustrating circumstances – can lead to resolution and change. Faith in Adversity: Explore how Jordana's Christian faith provided comfort and guidance during extensive struggles with public services. Financial Awareness: Gain insights into overcoming emotional spending and the benefits of seeking professional financial advice. Notable Quotes: "I became an accidental influencer. I've always worked behind the camera and just started randomly creating videos." "The one thing I'll have to say as an influencer—the amount of trolling I get – [but] I try to remember they are human as well." "The older I get, the more I think I'm empathetic." "From the responses from the video, it was kindness. So, yes, my takeaway is: Be kind." Resources: That British Girl on Instagram: @thejordanagrace Join the Money: Faith and Finance Group on Facebook here!We love your questions. Contact the Money: Faith and Finance team and we will aim to get back to you in a future episode.  Pete Burrows is an accountant for small business and individuals with Lower Russell and Farr in Penrith, Western Sydney, Australia.Ben McEachen hosts Hope Mornings on Hope 103.2FM in Sydney, Australia.Support the show, a product of Hope Media: https://hope1032.com.au/donate/2211A-pod/See omnystudio.com/listener for privacy information.

Why do we pay tax? Should we? How much? The Bible instructs about tax? Welcome to the Tax Episode you have been waiting for and it's finally arrived. Applause. Key Takeaways: Taxes are the financial backbone which support essential government services such as schools, hospitals, and infrastructure. The Australian tax system is progressive – higher-income earners pay proportionally more. This allocation of resources from those who can afford to contribute more can be viewed as a fair system. Optimising tax payments through eligible deductions and exemptions is encouraged. The distinction between high earners and rich individuals is crucial, particularly in discussions about tax equity and avoidance. From a Christian perspective, paying taxes is viewed as a civic duty aligned with scriptural teachings which emphasise honesty and respect for governing authorities. Notable Quotes: "Taxes are the price we need to pay to live in the kind of world that we want." - Pete Burrows "A fair amount is what's correct... calculated within the laws." - Pete Burrows "I think tax is a privilege." - Pete Burrows "The Bible strongly indicates that paying taxes is necessary, 'giving to Caesar what is Caesar's'." - Ben McEachen Join the Money: Faith and Finance Group on Facebook here!We love your questions. Contact the Money: Faith and Finance team and we will aim to get back to you in a future episode.  Pete Burrows is an accountant for small business and individuals with Lower Russell and Farr in Penrith, Western Sydney, Australia.Ben McEachen hosts Hope Mornings on Hope 103.2FM in Sydney, Australia.Support the show, a product of Hope Media: https://hope1032.com.au/donate/2211A-pod/See omnystudio.com/listener for privacy information.

We know. You can't hardly wait for Season 6. It will drop in November 2024! Before that, listen to this awesome episode from Season 1! To keep helping us to get the most out of our Christmas budget, Pete and Ben offered a tonne of top tips. Listen in again or for the first time to this early Christmas gift that keeps on giving. Join the Money: Faith and Finance Group on Facebook here!We love your questions. Contact the Money: Faith and Finance team and we will aim to get back to you in a future episode.  Pete Burrows is an accountant for small business and individuals with Lower Russell and Farr in Penrith, Western Sydney, Australia.Ben McEachen hosts Hope Mornings on Hope 103.2FM in Sydney, Australia.Support the show, a product of Hope Media: https://hope1032.com.au/donate/2211A-pod/See omnystudio.com/listener for privacy information.

Click here for the 'Smarter with Money' handout that you can use to help your household  Just like you and me, we've got burning questions to ask Pete so we could be one step closer to making sense out of the everyday money matters. We've cherry picked 10 questions (with one BONUS) for you. Press play now to hear Pete's "Smarter with Money" Q&A sesh. Join the Money: Faith and Finance Group on Facebook here!We love your questions. Contact the Money: Faith and Finance team and we will aim to get back to you in a future episode.  Pete Burrows is an accountant for small business and individuals with Lower Russell and Farr in Penrith, Western Sydney, Australia.Ben McEachen hosts Hope Mornings on Hope 103.2FM in Sydney, Australia.Support the show, a product of Hope Media: https://hope1032.com.au/donate/2211A-pod/See omnystudio.com/listener for privacy information.

Click here for the 'Smarter with Money' handout that you can use to help your household  In this bonus episode before Season 6 drops, Pete Burrows dives into practical money tips and traps. Press play now to hear Pete's "Smarter with Money" session from Pittwater Anglican, Sydney, this month. Pete covered the importance of budgeting, saving habits, and financial planning. He shared valuable insights on setting financial goals, managing expenses, and the benefits of early financial education.  Join the Money: Faith and Finance Group on Facebook here!We love your questions. Contact the Money: Faith and Finance team and we will aim to get back to you in a future episode.  Pete Burrows is an accountant for small business and individuals with Lower Russell and Farr in Penrith, Western Sydney, Australia.Ben McEachen hosts Hope Mornings on Hope 103.2FM in Sydney, Australia.Support the show, a product of Hope Media: https://hope1032.com.au/donate/2211A-pod/See omnystudio.com/listener for privacy information.

In this episode, Ben and Pete are joined by Hayson and Nikki Lo, hosts of the Money Matrimony podcast. Hayson and Nikki share their own experience with navigating household finances, as they took time and effort to find a more united approach. They want to help other couples with communicating better about money matters. Key Takeaways: Open Communication: Regular, honest conversations about daily expenses and financial goals strengthen marital relationships. Joint Accounts: Combining finances fosters transparency and shared responsibility, ensuring both partners are involved in financial decisions. Importance of Contentment: Teaching children about contentment and gratitude, regardless of financial status, helps ground them in healthy financial principles. Role of Faith: Understanding that all resources come from God and striving to be good stewards impacts how money is managed and prioritised. Balancing Act: Regular assessment of goals is necessary as balancing career aspirations and family time remains a constant challenge.   Notable Quotes: Hayson: "The way that you view money, the way that you view the language around money, it's so important that it's about 'we' and not 'I'." Nikki: "We are focusing more on the relational side of it, because a lot of finance podcasts involve getting rich and finding financial freedom – which is important – but we want to emphasise not making money an idol." Hayson: "Having good communication and honest communication, even about our financial mistakes, helps foster a healthier relationship." Nikki: "It's also seeing the value in each other's contributions, whether financial or non-financial, to help bring about those important conversations and communications." Hayson: "We want our kids to learn contentment, to be content whether they have a lot or a little, and to always be thankful to God." Listen now to Money Matrimony with Hayson and Nikki. Join the Money: Faith and Finance Group on Facebook here!We love your questions. Contact the Money: Faith and Finance team and we will aim to get back to you in a future episode.  Pete Burrows is an accountant for small business and individuals with Lower Russell and Farr in Penrith, Western Sydney, Australia.Ben McEachen hosts Hope Mornings on Hope 103.2FM in Sydney, Australia.Support the show, a product of Hope Media: https://hope1032.com.au/donate/2211A-pod/See omnystudio.com/listener for privacy information.

Key Takeaways: Cozy Fizz Explained: Or how the rising cost of living impacts luxury items and discretionary spending. Wants vs Needs: Working out what is essential. Economic Pressures: Small businesses, particularly in niche markets, must consider the particular sting of inflation and other financial factors. Strategic Spending: Tips for managing finances by balancing quality purchases with affordability and necessity. Notable Quotes: "The more money you spend on vanity, the less money you've got to spend on humanity." - Pete Burrows "It doesn’t cost that much more to make a fancy handbag. It’s just the name on it." - Pete Burrows "Everybody wants to get something that’s a bit different, a bit unusual, and that comes out in people’s drinking tastes." - Pete Burrows Join the Money: Faith and Finance Group on Facebook here!We love your questions. Contact the Money: Faith and Finance team and we will aim to get back to you in a future episode. Pete Burrows is an accountant for small business and individuals with Lower Russell and Farr in Penrith, Western Sydney, Australia.Ben McEachen hosts Hope Mornings on Hope 103.2FM in Sydney, Australia.Support the show, a product of Hope Media: https://hope1032.com.au/donate/2211A-pod/See omnystudio.com/listener for privacy information.

Everything you need to know about starting out in stocks. Our special guest is Joe Youssef, Chief Investment Officer and Head of Distribution with Two Harbours Asset Management. You can learn more about Joe on LinkedIn.Key Takeaways: Understanding Shares: Shares represent ownership in a company. When private companies go public, they offer shares that anyone can buy, turning shareholders into partial owners. Importance of Liquidity: The stock market offers liquidity, allowing investors to buy and sell shares quickly, unlike properties or term deposits which are less flexible. Educational Emphasis: Joe Youssef stresses the importance of education in investing. Investors should thoroughly understand what they are investing in to make informed decisions. Ethical Investing: Ethical investing is becoming increasingly prominent. Investors often choose not to invest in sectors like gambling, tobacco, or certain pharmaceuticals based on personal or religious beliefs. Long-term Strategy: Effective investing requires patience and a long-term perspective. Joe highlights the need to weather short-term market fluctuations and focus on long-term growth. Notable Quotes: Joe Youssef: "The definition of true investment is to buy an asset with the view of holding it and letting it appreciate steadily over time." Pete Burrows: "It’s a flexible way to make money… the very transparency of the share market is what scares people about it." Joe Youssef: "Historically, no market has generated the most capital returns as well as income for investors than the stock market." Joe Youssef: "Education is key and then have the patience to see that through." Ben McEachen: "Should I align my faith with what I invest in?" Join the Money: Faith and Finance Group on Facebook here!We love your questions. Contact the Money: Faith and Finance team and we will aim to get back to you in a future episode. Pete Burrows is an accountant for small business and individuals with Lower Russell and Farr in Penrith, Western Sydney, Australia.Ben McEachen hosts Hope Mornings on Hope 103.2FM in Sydney, Australia.Support the show, a product of Hope Media: https://hope1032.com.au/donate/2211A-pod/See omnystudio.com/listener for privacy information.

Key Takeaways: Difference Between Redundancy and Retrenchment: Redundancy is a job role being removed. Retrenchment is more personal, related to your job performance. Immediate Actions: If you are made redundant, start looking for new jobs ASAP, consult financial professionals, and consider budgeting your redundancy payment as a wage. Tax: Understand the tax-free components of redundancy payments. Where possible, time redundancy to maximise tax benefits. Psychological Impact: Redundancy can deeply affect your identity and emotional well-being. Seek support and aim to view it as an opportunity rather than judgment. Financial Planning: Consider paying off high-interest debts, topping up superannuation, or investing redundancy payments to ensure financial stability. Notable Quotes: "Retrenchment is generally more specific to a person, while positions get made redundant." - Pete Burrows "I've seen some clients get made redundant and then after some time, say it was the best thing that happened to them." - Pete Burrows "It's important to think of redundancy payments as wages and not just spend it all at once." - Pete Burrows "Redundancy seems more commonplace in recent times." - Ben McEachen "It's nothing personal from your employer, and it also isn’t any kind of punishment or judgment by God. It’s a fact of life." - Pete Burrows   Join the Money: Faith and Finance Group on Facebook here!We love your questions. Contact the Money: Faith and Finance team and we will aim to get back to you in a future episode. Pete Burrows is an accountant for small business and individuals with Lower Russell and Farr in Penrith, Western Sydney, Australia.Ben McEachen hosts Hope Mornings on Hope 103.2FM in Sydney, Australia.Support the show, a product of Hope Media: https://hope1032.com.au/donate/2211A-pod/See omnystudio.com/listener for privacy information.