Who is Victoria? I started my career working in Organisational - - PowerPoint PPT Presentation

02.

It’s your journey.

Who is Victoria?

I started my career working in Organisational Psychology as a Culture and Engagement Consultant – and quickly realised that whilst I loved what I did, I wasn’t having the impact I desired. In 2015 I started Zella Wealth with the intention of bringing approachable, implementable and long term wealth strategies to Generation Y. I then went on to start She’s on the Money which launched officially as a business in 2018. In my spare time, I love mentoring and am currently working with three different

• rganisations to do this. Fitted for Work, the RMIT Alumni Mentoring Program, and

MyRoad with eBeacon. I also work very closely with the Epworth Foundation to raise much needed funds for the Epworth Hospital.

Ac Academi mic credentials: Bachelor of Psychological Science, Post Graduate Diploma of Psychology, Organisational

• Psychology. Masters of Business Administration . Diploma of Financial Planning, (RG146), Advanced Diploma of

Financial Planning.

GENERAL ADVICE DISCLAIMER

Before we begin let’s quickly wrap the boring but important stuff: The advice shared by She’s on The Money is general in nature and does not consider your individual circumstances. She’s on The Money exists purely for educational purposes only and should not be relied upon to make an investment or financial decision. And of course, as always WE PROMISE: Victoria Devine is an Authorised Representative of Australia Pacific Funds Management ABN 34 132 463 257 | AFSL 339151. Should you wish to seek professional advice from a financial adviser (or mortgage broker!) have a chat to the team at She’s on the Money (we hear they’re pretty good!).

CONNECT WITH Your own Money Story

Your money story is foundational to how you think about money, how you react to money and how you communicate about money. Money Stories are made up of a combination of your beliefs and values about money. You cant change your story, but you can reinvent it.

WHAT IS THE FIRST THING THAT CAME TO MIND WHEN THE TOPIC OF MONEY STORIES CAME UP?

VALUES AND BELIEFS They’re not the same

Be Beliefs are assumptions we we personally ho hold ld to to be tr true. . Mo Money va values es are e not bel eliefs, efs, they ey are e the e things s we e per erso sonally y place e a hig high h im importa tanc nce on. n.

WHAT IS A BUDGET? It’s not a burden

Yo You u need d clari rity on when, , where re and d how you u spe pend d your ur mon

• money. Withou
• ut this, we can

an’t creat ate finan ancial al freedom.

• m.

Where are you starting from? Map out your money

1. 1. If If you don’t know what tools and resources you have to to get t somewhere, you won’t t know if f th the desti tinati tion is is ev even en pos possible.

• ible. (You
• u can’t go
• to
• Antarc

rctic ica in in a row row boa boat and d bik bikin ini, i, can you

• u?!

?!) 2. 2. If If you don’t create a map, you might get lost or end up up needing to detour ur al along the way, ay, which might ma make you too tired to comp mplete the he trip.

Where are you starting? Earn, Spend, Own and Owe

EARN SPEND OWN OWE

EARN OWE SPEND OWN

Where are you starting? Earn, Spend, Own and Owe

EARN SPEND OWN OWE

EARN OWE SPEND OWN

$47,000 $45,000 $0 $11,000

Sam is 24 and earns a package of $65,000 including superannuation and has a HELP debt of $24,000 still. Sam is single and lives in a share house. Sam has a car loan of $11,000 and does not own any assets yet.

SAM

Where are you starting from? Map out your money

EARN SPEND OWN OWE

1 2 4 3

EARN OWE SPEND OWN

What is a budget? It doesn’t actually matter how you track it

CASH IS QUEEN Make cash flow a priority

“T “The e importance e of f cash sh fl flow and why y yo your money ey isn sn’t working as as har ard for you as as you do for it.”

WHAT’S HOLDING YOU BACK

PERCEPTION THAT YOUR INCOME ISN’T ENOUGH LIFESTYLE CREEPING ITS NOT WHAT YOU CAN EARN – ITS WHAT YOU CAN SAVE…

WHAT IS YOUR WHY? Your own Money Story

TRAVEL THE WORLD GROW YOUR FAMILY MORE TIME FINANCIAL SECURITY

SETTING EFFECTIVE GOALS SMART methodology

Specific:

Well defined, clear, and unambiguous

Opti

ptimisti tic: Optimistic but within reach, realistic, and relevant to your life purpose

Timely:

With a clearly defined timeline, including a starting date and a target date. The purpose is to create urgency.

Measurable:

With specific criteria that measure your progress towards the accomplishment of the goal

SAVE MORE AND SPEND LESS? Top cash flow tips

GO BACK TO CASH / DEBIT BASED SYSTEM AND PERFORMING PLASTIC SURGERY ON YOUR CREDIT CARDS PLAN FOR SUCCESS WITH A CASH FLOW BUDGET IMPLEMENT A SYSTEM TO SAVE AND INVEST AUTOMATICALLY

CREDIT CARDS Helping or hindering?

PROS CONS

Helps you spend more than you earn You have to pay it all back You’ll spend 12-18% more There’s no pain associated Promote unconscious spending Can impact your ability to create wealth Flybuys points are worth $0.0005 per dollar …..that’s it

YOU DO NOT NEED A CREDIT CARD TO BUILD YOUR CREDIT SCORE

RICH VERSUS POOR SPENDING Act your wage

LARGE LIFESTYLE EXPENSES INCOME NOTHING LEFT OVER TO SAVE OR INVEST INVESTMENTS SAVINGS PROPERTY LEFT OVER INCOME SPENT ON LIFESTYLE INCOME

POOR SPENDING WEALTHY SPENDING

AUTOMATE YOUR MONEY To make the most of it

AUTOMATIC DEBITS TO YOUR INVESTMENTS AND SAVINGS ACCOUNT BILLS AND DIRECT DEBITS PAID AUTOMATICALLY WEEKLY SPENDING MONEY CASH HUB

(OR MORTGAGE)

ALL INCOME

AUTOMATE YOUR MONEY To make the most of it

AUTOMATE YOUR MONEY To make the most of it

CASH HUB ALL INCOME BANKED INTO UP BANK $1,400 PER FORTNIGHT WEEKLY SPENDING MONEY UP BANK CARD NOMINATED AMOUNT DEPOSITED VIA DIRECT DEBIT EVERY WEEK ON A DAY OF YOUR CHOICE. SPENDING MONEY FOR:

• GROCERIES
• ENTERTAINMENT
• TRANSPORT
• PERSONAL CARE

$320 PER WEEK ALL BILLS AND FIXED COSTS ARE PAID VIA DIRECT DEBIT OR BPAY DIRECTLY FROM YOUR CASH HUB

• PHONE
• UTILITIES
• RENT
• GIFTS

$460 PER FORTNIGHT HOLIDAY SAVER TRANSFER FUNDS EACH PAY TO COVER YOUR ANNUAL TRAVEL $40 PER FORTNIGHT FUTURE INVESTMENT SAVER CONTRIBUTE AS MUCH AS POSSIBLE, AS CONSISTENTLY AS POSSIBLE. THIS FIGURE WILL GROW AS YOUR INCOME DOES $130 PER FORTNIGHT EMERGENCY SAVER THIS MONEY IS YOUR EMERGENCY

• SAVINGS. USED FOR UNEXPECTED

COSTS ONCE YOU INCOME INCREASES, THS ACCOUNT WILL BE USED FOR LONG TERM SAVINSG GOALS $130 PER FORTNGIHT

YOUR ACTION PLAN Home work

IDENTIFY YOUR VALUES AND SET GOALS BASED ON THESE COMPLETE A COMPREHENSIVE BUDGET AUTOMATE YOUR CASHFLOW AND SPENDING START TODAY

Q + a

We love hearing from you. We do! Whether you want to work with us

• n your financial goals, share something with us that we could improve
• n, or if it’s just to tell us you had a money win: every message helps us

be better and do more. So shoot us an email to:

HELLO@SHESONTHEMONEY.COM.AU