The Broke Generation

Have you got your card details at the ready for Black Friday tomorrow? Maybe you’re hanging out till the Cyber Monday deals instead? I’m swooping in with this episode just before tomorrow’s frenzy with a bit of insight into the psychological aspects that can influence our spending behaviour during sale periods. The current economic landscape, marked by reserved spending and consistent interest rate hikes, can make even the most disciplined saver more susceptible to the allure of a good sale. Now is the time for mindful decision-making! I’m also discussing the challenge of dealing with regret avoidance spending, (Hello FOMO!) especially when faced with significant discounts. This is the time to be strategic, isolate your shopping behaviours, and prioritise mindful spending over impulsive decisions.  Tune in for some practical tips, including price comparisons, checking alternative platforms for better deals, and leveraging discounts and cashback opportunities. Episode highlights: Experts are predicting significant discounts during Black Friday, with 71% of retail experts expecting high discounting, Five #SpendingTraps that could test you this sale season The importance of comparing prices, checking alternative platforms like marketplaces and Depop for better deals, and leveraging discounts and cashback opportunities to maximise savings. “Because of the cost of living crisis, people's discretionary spending is down. We're being a lot more reserved. So they're needing to entice us to spend a little bit more."Emma [03:40] “Be really, really careful with big discounts when you see them because it's going to throw everything else out of context."Emma [10:17] “Being good with money does not mean being perfect. It's all about how you respond."Emma [25:31] Where to find The Broke Generation Website: https://thebrokegeneration.com/?v=518f4a738816Instagram: https://instagram.com/the.brokegenerationTikTok: @the.brokegeneration  Sign up to The Glue: the weekly money psychology and mindset newsletter www.thebrokegeneration.com/subscribe, where you’ll also get your free Financial Values workbook.See omnystudio.com/listener for privacy information.

By now, you've probably heard me talk about the significance of aligning your personal values not just with savings and investments but also with your day-to-day spending. In this episode, I'm highlighting the importance of recognising and understanding your natural spending tendencies and how they shape your financial behaviour. It's about mastering the art of blending your financial choices seamlessly with your unique personality and priorities! Like most things, there are pitfalls and exceptions to navigate. I share my own experiences, shedding light on the nuances of values-based spending, and the ongoing challenge of distinguishing between conditioned wants and genuine needs. The beauty of this approach lies in its dual nature: indulging in things that truly matter while also saving or investing in alignment with those core values.  And because learning doesn't have to be all serious, I've got a couple fun exercises for you to try. These will guide you in uncovering and comprehending your financial values. Remember, getting to know yourself is the first step in getting on top of your money! Episode highlights: The importance of understanding and acknowledging your behaviour and motivations, How savings and investments can also honour your values, contributing to your overall financial well-being, Assessing how well current financial behaviours reflect values and potential for adjustments. “It's a lot easier to shut out a lot of that noise when you have your financial values nutted out and you really get into the flow of aligning your money to these values."Emma [10:34] “I've noticed a lot that my priorities, my values are shifting and not like going against each other, but more just becoming more refined."Emma [17:55] “Finding a way to honour your values in some way in your financial routine makes your money, makes your relationship with money instantly stronger, and it makes it easier to engage in the behaviours that are conducive to positive financial outcomes."Emma [31:07]   Where to find The Broke Generation Website: https://thebrokegeneration.com/?v=518f4a738816 Instagram: https://instagram.com/the.brokegeneration TikTok: @the.brokegeneration  Sign up to The Glue: the weekly money psychology and mindset newsletter www.thebrokegeneration.com/subscribe, where you’ll also get your free Financial Values workbook.See omnystudio.com/listener for privacy information.

If you’ve clicked on this episode it’s probably because you’re fighting that nagging feeling that you’re ‘behind’ in life. It's a topic that resonates with all of us, consuming our thoughts more often than we'd like to admit. Featuring voice notes from listeners, sharing their own experiences with this all-too-familiar sensation, and how to navigate the complex feeling of being behind in life. Feeling behind isn't just about the numbers; it's about the choices we make, the experiences we gather, and the unique circumstances that shape our journey. Together we explore the need to discern the specific triggers that make us feel behind and the underlying emotions driving these perceptions. It’s important to define your own unique path, discover your core values, and find contentment in their distinct journey. Episode highlights: Learning to differentiate between the societal pressure to conform to certain life milestones and your own personal desires and values, Recognising privilege and how comparing yourself to others who may have had different opportunities can be counterproductive, The importance of self-awareness and personal growth. “Getting aware is the very first stage, and that might be noting little things down if and when they pop into your mind or getting better at sort of slowing down and noticing when these thoughts and feelings are coming to you."Emma [11:15] “Where can you kind of move away from that goal that's been sort of drilled into you is the right thing to do."Emma [39:11] “There is no decision, there is no end destination, there is no place you can be in your life where you don't have questions about where you're going next."Emma [39:35] “The older you get, stage of life matters so much more. I've got friends that are 25 and I've got friends that are in their forties, but the stage of life is kind of more important than the age."Emma [42:26]   Where to find The Broke Generation Website: https://thebrokegeneration.com/?v=518f4a738816 Instagram: https://instagram.com/the.brokegeneration TikTok: @the.brokegeneration  Sign up to The Glue: the weekly money psychology and mindset newsletter www.thebrokegeneration.com/subscribe, where you’ll also get your free Financial Values workbook.See omnystudio.com/listener for privacy information.

It’s the final guest episode of the year and I am so excited to be joined by Annelise McCarthy, owner and founder of ‘Her Speaking Coach’. This week, we're delving into the often intimidating world of confidence, communication, and self-belief as Annelise explores the five factors that frequently hinder women from speaking confidently: fear of judgement, perfectionism, imposter syndrome, comparison, and people-pleasing. We discuss how these factors can be interconnected and how they can impact our ability to speak up and trust ourselves. Annelise stresses that building confidence isn't solely about mastering the technical aspects of speaking; it's also about cultivating a resilient mindset, and embracing your individual voice. External validation is a natural human need, but the journey towards self-belief involves finding a balance between seeking validation and developing internal self-trust. Remember, building confidence is a continuous journey, and it's crucial to prioritise self-compassion, self-awareness, and a dedicated commitment to challenging these limiting beliefs. Episode highlights: How confidence in speaking is not just about having the right tools or techniques but also about working on your mindset, voice, and body language, Addressing the challenges people face when trying to express themselves, advocate for their ideas, and overcome self-doubt in various aspects of their lives, not just in formal presentations, The importance of confident listening - confident communication involves both speaking and listening effectively! “The more that you avoid that fear, you validate the fact that it's scary."Annelise [10:45] “It's so hard to know where to start with breaking out of those things when they've been such ingrained patterns. I'll think that I've got over a hurdle I've been having, but then something will happen… and it kind of rears its ugly head again."Emma [26:26] “We talk about these powerful tools that we can use to overcome that external validation piece and to overcome perfectionism, whatever it might be. I think it's really human to want to be validated."Annelise[28:50] Where to find AnneliseWebsite: https://www.herspeakingcoach.com/Instagram: https://www.instagram.com/herspeakingcoach/LinkedIn: https://www.linkedin.com/in/annelise-mccarthy-b31533142/ Where to find The Broke GenerationWebsite: https://thebrokegeneration.com/?v=518f4a73881Instagram: https://instagram.com/the.brokegenerationTikTok: @the.brokegeneration  Sign up to The Glue: the weekly money psychology and mindset newsletter www.thebrokegeneration.com/subscribe, where you’ll also get your free Financial Values workbook.See omnystudio.com/listener for privacy information.

It’s the penultimate guest episode of the year! This week I’m joined by Kate Campbell, financial educator, and co-host of the Australian Finance Podcast - and now author! We discussed the value of investing and how it connects with our life goals. Kate emphasised the importance of reframing your identity as an investor and starting small to build confidence. We also explored how personal values and experiences can shape financial decisions and the significance of questioning advice from others. Kate stressed that taking one step at a time, enhancing financial literacy, and asking better questions when working with financial professionals can lead to better financial well-being. With Kate’s book now out, we also unpacked the significance of prioritising relationships and allocating time and resources to nurture them. The balance between living in the present and securing a better future, with a focus on relationships and well-being as key aspects of a fulfilling life. Episode highlights: The challenge of dealing with pushback from friends and family who may have different values or life goals. Forgiving yourself for past financial decisions and understanding that those decisions were made based on the knowledge and experiences available at the time. The concept of taking ‘healthy risks’ in investing and starting small, learning as you go, and seeking support from resources like podcasts, courses, and online communities. “I honestly think that one of the most powerful things I did for my finances was forgive myself for everything that I did, quote unquote wrong or everything I didn't do because there's a unique type of shame that relates to things that we think we should have done or that we should have known better."Emma[16:29] “The answer lies within you, and I think this is why a lot of people, particularly with money stuff and particularly investing, you learn and you learn. And then there comes a point where you can’t learn any more. You’ve just got to make yourself do it."Emma [26:33] “There's not really a free lunch in investing. If someone's offering you something for free, really start to question it."Kate [39:45] “If we can focus a little bit more on the relationship piece and if we can allocate a bit more time and money to that side of things, then we're going to be happier longer term."Kate [50:52] Where to find Kate Campbell Website: https://buyinghappiness.com.au/Instagram: https://www.instagram.com/katecampbellausLinkedIn: https://www.linkedin.com/in/katecampbellonlineAustralian Finance Podcast: https://www.raskmedia.com.au/podcasts/australian-finance-podcast/ Where to find The Broke Generation Website: https://thebrokegeneration.com/?v=518f4a738816Instagram: https://instagram.com/the.brokegenerationTikTok: @the.brokegeneration  Sign up to The Glue: the weekly money psychology and mindset newsletter www.thebrokegeneration.com/subscribe, where you’ll also get your free Financial Values workbook.See omnystudio.com/listener for privacy information.

Lately, I've been going through it, just like many of you. 2023 has thrown everything at me, from life stuff to financial struggles. But guess what? I got sick of myself moping around and identifying with the struggle. I’ve found myself a mantra that feels like I’ve hit reset on my year - Enter the Milhouse Mindset!  Listen in to find out how Milhouse Van Houten is helping me to change my perspective and believe that things can work out. I'm inviting you to join me in the Milhouse Movement for the last three months of the year. Whether you've had an amazing 2023 or a tough one like me, embrace this mindset. It's all about looking on the bright side, taking opportunities, and believing that things are going your way. And you know what? It's empowering, it's exciting, and it might just change your life.  So, get your flood pants and join the movement, share your Milhouse moments with me over on Instagram, and let's make the most of the rest of 2023. Episode highlights: How I’m embracing my new positive approach for the last three months of the year, regardless of my experiences in 2023. Alongside my new mantra, I’ve been committing to regular self-care, looking after mental health and physical health “I got sick of myself identifying with this struggle because I had found this, I guess, comfort and identity there."Emma [08:38] “I have been finding myself... doing things that I have been too scared to do all year or too stuck to do."Emma [14:37] “So I'm in full Milhouse Mindset mode at the moment. October, November, we are showing up for ourselves. I am just being like, You know what? We're going to go for that. We're going to try and make stuff happen."Emma [15:09]   Where to find The Broke Generation Website: https://thebrokegeneration.com/?v=518f4a738816Instagram: https://instagram.com/the.brokegenerationTikTok: @the.brokegeneration  Sign up to The Glue: the weekly money psychology and mindset newsletter www.thebrokegeneration.com/subscribe, where you’ll also get your free Financial Values workbook.See omnystudio.com/listener for privacy information.

This week I’m grooving into another solo episode, looking into eight low-effort ways to enhance your finances without much hassle. We all know life's a bit rough these days. Whether it's dealing with the cost of living or just bracing for the unexpected, it's been one heck of a rollercoaster. But guess what? We're in this together, and I've got some tricks up my sleeve to make it a bit easier. So, grab your coffee, give this episode a listen, and get ready to upgrade your financial game. I'd love to hear if you try any of these tips, and remember, it's all about making money work for you, not the other way around. Episode highlights: Work on identifying and updating your financial values to align your money with what matters to you, Focus on one high-impact financial improvement at a time, Prioritise action and make small changes to improve your financial situation. “Where a business would have like a marketing budget and an event budget… for the full year or per quarter, you can sort of do that yourself with your own finances by looking at those zoomed out numbers."Emma [15:15] “When you feel overwhelmed and you don't know what to do, what you should be doing, what's the most, what's the best thing to do? Just pick one thing and put your energy into that. Because doing one thing is always better than doing nothing."Emma [19:45] “What matters to you and how you can align money to improving your life, whatever that looks like for you, that sense of control is immediately flipped."Emma [21:36]   Where to find The Broke Generation Website: https://thebrokegeneration.com/?v=518f4a738816Instagram: https://instagram.com/the.brokegeneration|TikTok: @the.brokegeneration  Sign up to The Glue: the weekly money psychology and mindset newsletter www.thebrokegeneration.com/subscribe, where you’ll also get your free Financial Values workbook.See omnystudio.com/listener for privacy information.

Got a long walk or drive planned? Queue up this ep, because it’s a long one! Joined by Jess Brady, I delve into the world of personal finance, shedding light on the psychological aspects that often overshadow the numbers. Jess, is an expert in financial psychology and founder of Green House, a financial literacy program. We explore two distinct mindsets: financial stragglers and financial strivers. Financial stragglers tend to avoid accountability and justify their financial behaviour, while financial strivers embrace change, set meaningful goals aligned with their values, and learn from their mistakes. Jess emphasises the importance of deep self-reflection regarding one's relationship with money and suggests asking hard-hitting questions to uncover beliefs and behaviours. She challenges the normalisation of being "bad with money" in society and advocates for a more open and supportive financial community. Anyone can shift from being a struggler to a striver by embracing personal accountability, seeking support, and aligning their financial goals with their values for a future filled with financial freedom and flourishing. Episode highlights: The importance of thinking about money in the context of one's entire life rather than just day-to-day finances. The cost of accessing traditional financial advice has been on the rise, making it less accessible to many people. Understanding one's core values and aligning financial goals with those values, without this alignment, financial strategies are less likely to be effective. Mindset, personal accountability, and the willingness to learn and make changes, when it comes to finances. “I love Conscious cash flows. I don't like the word budget. It feels like dieting, very restrictive, very boring. It doesn't work for me and it certainly doesn't work for many of the people that I've worked with in the past."Jess [12:15] “Most people have never learned formally anything about money. You know, it's really been left to the people around us to role model. Some did it exceptionally well, some didn't do it very well. And we can learn from their mistakes, but they role model it in an environment that is exceptionally different to where we're at today."Jess [17:13] “People are very passive, and we let that sort of autopilot, as I call it, kind of run the show when we're not really making decisions in any part. We're not really balancing the now and the future."Emma [20:32] “I think in any area of our life, if it's important to you and if it's worth whatever's on the other side, to be passive is kind of selling yourself short."Jess [21:45] Where to find Jess BradyWebsite: https://jessicabrady.com.au/Instagram: https://www.instagram.com/jessbrady_financialadvice/LinkedIn: https://www.linkedin.com/in/jessica-brady-21165812/Join the waitlist for The Greenhouse Money Program, running in January 2024!   Where to find The Broke Generation Website: https://thebrokegeneration.com/?v=518f4a738816Instagram: https://instagram.com/the.brokegenerationTikTok: @the.brokegeneration  Sign up to The Glue: the weekly money psychology and mindset newsletter www.thebrokegeneration.com/subscribe, where you’ll also get your free Financial Values workbook.See omnystudio.com/listener for privacy information.

Last week’s episode was all about breaking free from the spending hamster wheel and highlighted the importance of recognising the underlying emotional needs that drive our spending behaviours. Today, I'm delving deeper into this topic by exploring some common money beliefs that might be holding you back. These beliefs often linger in the background, quietly influencing our financial decisions, without us ever really noticing. Let's dive right in! First up, the belief that "money will always be there." It's like a safety net, right? But sometimes, it can lead us down a path of reckless spending. We'll explore how to regain control over this belief and your finances. Next, we've got the classic belief that "money is always hard." Who hasn't felt that way at some point? But I'll show you how to change your response to unexpected expenses and build a more positive outlook. And finally, we've got the belief that "I deserve to spend my money." We all do, but when it turns into impulsive spending, it can be a problem. I'll help you find alternative ways to treat yourself without emptying your wallet. Episode highlights: Learn how to understand the link between your beliefs and behaviours when it comes to money and spending. Overcome financial challenges and reduce shame associated with your money choices. How to work on your money beliefs is an ongoing process, not a one-time fix. It's a tool to help navigate money throughout your lifetime.   “I want to help you start to understand the link between beliefs and behaviours. Because when we start to understand what is driving our behaviour, that's when we can really start to neutralise those beliefs eventually and make them more positive and then experience the outcome, the behavioural outcome as a result."Emma [04:59] “Most [financial] experiences have a practical element of what is literally happening and then an emotional meaning that's put on to that or an emotional way."Emma [09:07] "Sometimes what you deserve is to keep that money for another time when money can really be used as a resource to help you live your life, to help you experience life in a better way rather than in that immediate moment."Emma [30:10] "It's a really powerful pocket of personal finance because so often we focus solely on the behaviour and that can kind of keep us focused on trying to change something that is kind of like broken from within."Emma [30:46] Where to find The Broke Generation Website: https://thebrokegeneration.com/?v=518f4a738816Instagram: https://instagram.com/the.brokegenerationTikTok: @the.brokegeneration  Interested in joining the next Midseason Wardrobe Pause? Sign up here: thebrokegeneration.com/the-midseason-wardrobe-pause Sign up to The Glue: the weekly money psychology and mindset newsletter www.thebrokegeneration.com/subscribe, where you’ll also get your free Financial Values workbook.See omnystudio.com/listener for privacy information.

Have you found yourself in a spending hamster wheel? Stuck in a cycle that seems impossible to break, with an urge to spend money, even when it doesn't align with your goals? This solo episode I’m breaking down the cycle, showing you how to identify what motivates your spending, and understand the emotional needs behind the spending. I’m sharing my own experiences of being stuck in this cycle and feeling like my financial outcomes were out of my control. I've learned to step off that hamster wheel and take control of my financial behaviour. This process involves identifying the motivator behind my spending, understanding the needs I’m trying to meet, and redirecting my behaviour in healthier ways. Rather than just focusing on cutting spending, it's essential to treat the underlying causes of your financial behaviour. By breaking the cycle and reprogramming your responses, you can achieve better financial outcomes and build self-trust. It's not about avoiding spending altogether but making conscious and empowered financial decisions.  Episode highlights: Understanding the spending hamster wheel, and the steps you can take to break it Uncover the underlying emotional needs driving your spending behaviour. How to redirect your energy and behaviour toward more productive alternatives. Building self-trust by consciously practising new spending behaviours and making mindful choices. I want you to think about the need that you try and meet when you spend money. Is it an emotion that you are trying to soothe? Is it a feeling you're trying to obtain? Is it about control?Emma [16:52] If you could buy who you wish you were, if you could buy your way out of low self esteem, then we wouldn't be here working through this.Emma [26:57] You can have peace from your spending decisions. You can feel truly in control, not just a perceived sense of control.Emma [32:23] Learning how to spend money is not something that we're taught, and it's not something that's covered often in personal finances until you meet me.Emma [35:17]   Where to find The Broke Generation Website: https://thebrokegeneration.com/?v=518f4a738816 Instagram: https://instagram.com/the.brokegeneration TikTok: @the.brokegeneration  Interested in joining the next Midseason Wardrobe Pause? Sign up here: thebrokegeneration.com/the-midseason-wardrobe-pause  Sign up to The Glue: the weekly money psychology and mindset newsletter www.thebrokegeneration.com/subscribe, where you’ll also get your free Financial Values workbook.See omnystudio.com/listener for privacy information.