Should you burden your maturing youngin' on how you make your money work for your household? Should you spell it out for them so they understand how the adults in the household have sacrificed for their well being as well as the comforts in life which they enjoy? Or should you let them enjoy life, and live a carefree unemcumbered life because after all, they've got a whole lotta years of adulting to enjoy?

Key Takeaways:

• It's crucial for children to learn about money early on, including budgeting, saving, and investing.
• Transitioning from cash to digital transactions presents challenges in teaching kids about the value of money.
• Encouraging children to work part-time can provide valuable financial skills and experiences.
• Understanding new financial tools such as Afterpay and digital banking is essential for today's youth.
• Engaging in open, non-judgmental conversations about finances can help mitigate money-related mistakes.

Notable Quotes:

• "One out of one people in the world need to understand and deal with money." — Pete Burrows
• "The earlier you can start [financial education], the better." — Pete Burrows
• "It's a good idea to set up bank accounts for kids to teach them about saving and spending." — Pete Burrows
• "Mistakes are your best resource because you can learn from them." — Pete Burrows
• "You want to keep open conversations… lean into [money] learning opportunities." — Pete Burrows

Got a question, comment or personal story to share? Send it through at hopepodcasts.com.au. Ben and Pete will get stuck into it on 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.

Ben and Pete discuss effective ways to save for retirement. They discuss the importance of superannuation, the potential and pitfalls of property investment, and the simplicity of ETFs. They also cover the security of term deposits and the passion behind side hustles. Pete shares strategies for both young and seasoned investors. Whether you're planning for retirement or adapting to financial shifts, this episode offers valuable guidance on securing your financial future.

Key Takeaways:

• Superannuation remains a critical yet often misunderstood element of retirement planning, with opportunities for voluntary contributions and strategic fund selection.
• Property investment offers traditional value but comes with hefty transaction costs and market volatility considerations, demanding careful timing and planning.
• Exchange-Traded Funds (ETFs) provide accessible options for diversification in investment portfolios, appealing especially to younger investors with limited capital.
• Term deposits present a conservative, low-risk savings method, ideal for preserving funds against inflation although lacking growth potential.
• Side hustles can be rewarding hobbies or potential new career pathways, but require realistic expectations about their financial contribution to retirement plans.

Notable Quotes:

• "It's not the quantity of things in your life, it's the quality of things in your life that is important." – Pete Burrows on retirement focus.
• "Our financial setup now is our reality. You have to start from there." – Pete Burrows on assessing current financial resources.
• "People are very busy, you know, busy lives. I'm looking for achievable next steps." – Pete Burrows on investing in ETFs.
• "You learn the most from your mistakes." – Pete Burrows on financial learning and experience.
• "We can't take it with us. I haven't seen a client yet that's been able to tuck their money into their coffin." – Pete Burrows on the importance of quality versus quantity in life.

Got a question, comment or personal story to share? Send it through at hopepodcasts.com.au. Ben and Pete will get stuck into it on 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.

Join Ben and Pete as they unpack the role of contentment in financial well-being. Drawing on biblical wisdom from Philippians and Timothy, they explore how mindset shapes money habits. From embracing simple joys to budgeting well on a modest income, this chat shows how true contentment can reduce spending and increase gratitude.

Key Takeaways:

• Contentment as a Choice: Contentment involves shifting focus from accumulating more to appreciating what you already possess.
• Financial Mindfulness: Establishing a budget and regularly reviewing it can help identify areas of financial dissatisfaction and guide towards contentment.
• Value Experiences Over Possessions: Emphasize enjoying experiences rather than acquiring material goods to foster financial well-being.
• Scriptural Guidance: Biblical passages, such as those found in Philippians 4 and 1 Timothy 6, offer timeless insights on achieving contentment.
• Generosity and Stewardship: Being a good steward of your resources includes the willingness to give and lose money gracefully, which cultivates contentment.

Notable Quotes:

• "If you're not content, you're always going to want more." – Pete Burrows
• "Part of contentment is going, this money isn't mine, I'm a steward of it." – Pete Burrows
• "People don't enjoy money; they enjoy moments." – Pete Burrows
• "We have a television that…I like the fact that we're happy with that situation because…it saves us money." – Ben McEachen
• "Being content isn't about your contents; it's more about the vibe of having enough." – Pete Burrows

Got a question, comment or personal story to share? Send it through at hopepodcasts.com.au. Ben and Pete will get stuck into it on 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.