Key Takeaways:

• Hidden costs are prevalent across various transactions but can often be minimised by thoroughly reviewing terms and engaging in informed decision-making.
• The RBA's reviewed stance on credit card surcharges could significantly impact consumer savings in Australia, potentially changing how payments are processed.
• Financial literacy involves more than understanding visible expenses; it's crucial to delve into the fine print to uncover potential hidden fees.
• Real-world examples, such as fees associated with property transactions or subscriptions, highlight the necessity of awareness around potential 'break fees.'
• Biblical principles, like honesty and foresight, provide valuable ethical guidelines on managing financial transactions and understanding costs involved in purchases.

Notable Quotes:

1. "There's a hidden charge just to spend money." - Pete Burrows
2. "We read the quote, but we pay on the bill." - Pete Burrows
3. "Understand, nothing is really free. It's just a question of who's paying the cost." - Pete Burrows
4. "Future you will thank you though. Like you need to do the work, we need to look for the savings." - Pete Burrows
5. "We want the thing, but we don't understand everything beforehand." - 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.

Key Takeaways:

• Faith vs. Finance: The episode explores the potential conflict between staying true to one's faith and the financial temptations that professional contracts might present.
• Navigating Workplace Ethics: It highlights the subtle and explicit ways in which employment can impact or challenge personal beliefs and values.
• Professional Athletes and Faith: Neymar’s contract scenario underscores how high-profile individuals navigate faith publicly and what ethical dilemmas may arise.
• Faith Expression in Jobs: Listeners are prompted to reflect on the personal and professional boundaries they encounter in their own workplaces.
• Community Insights: A call is made for listeners to share their experiences in the Money, Faith and Finance Facebook group, promoting a collaborative dialogue.

Notable Quotes:

1. "I'd like to think I couldn't be bought and I couldn't be sold." - Pete Burrows
2. "What is the difference between propaganda and just living out your faith or stating your faith?" - Pete Burrows
3. "Boxing is great, but God cleans my soul." - Ben McEachen, quoting Oleksandr Usyk (click on link)
4. "Have you prioritised the money over, living out your Christian faith?" - Ben McEachen
5. "Am I being challenged in my faith and what's my response to that challenge?" - 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.

Love to hear your thoughts, views, comments or concerns about our latest topic - What lessons you have taught your kids about money. What did your folks teach you? What lessons have you learned from others? What questions do you have? What works? What has not worked?

Comment in Spotify, drop us a text or join the Money Faith & Finance group on Facebook here: https://www.facebook.com/share/g/1AyqE24m52/

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.

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 wellbeing as well as the comforts in life which they enjoy? Or should you let them enjoy life, and live a carefree unencumbered 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.

Ben and Pete explore the true costs of owning a car, from financing and depreciation to fuel, maintenance, and tax. They compare buying new versus used and unpack Aussie car trends, road safety, and environmental impacts. Pete also reflects on financial contentment and how our choices shape our lives.

Key Takeaways:

• Consider comprehensive costs of car ownership, from purchase to maintenance and eventual resale or trade-in value.
• Weigh the benefits of new versus used cars, especially in light of recent economic changes affecting vehicle markets.
• Analyze personal needs versus wants when determining the necessity of a first or second car.
• Explore alternative transportation methods and consider them in the broader context of personal finance strategies.
• Contentment and financial peace are key in making thoughtful decisions that align with personal values and current financial capabilities.

Notable Quotes:

• “The cost of owning a car is not just about the purchase price; it includes registration, insurance, fuel, repairs, and depreciation.” - Pete Burrows

• “We had the finances available to buy the car without taking a loan, which made the new car option more appealing.” - Ben McEachen

• “You can't forget the full cost of ownership of a car. It's not just the running costs; it's what you're going to lose when you trade it in or sell it.” - Pete Burrows

• “Many people overlook the financing and opportunity cost of what they could have done with the money spent on a car.” - Pete Burrows

• “In Australia, we are still a relatively car-obsessed country, often overlooking our beliefs and values when it comes to purchasing vehicles.” - Ben McEachen

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.

Will Ben be convinced by the building metaphor that Pete is workshopping? See what you make of constructing your finances one block at a time. Consider the consequences for greed and legacy when you stack up "savings bricks".

Key Takeaways:

• Savings Bricks Concept: Visualising savings goals as "bricks" to build a wealth wall can help break down daunting financial objectives into smaller, more manageable pieces.
• Building Habits: Establishing regular savings habits is essential, even if contributions are small. Consistency over time can lead to significant financial achievements.
• Diverse Strategies: Savings can include various approaches – from reducing debt, to investing in shares – to support overall financial health.
• Avoiding Greed: Maintaining a balanced view of finances ensures that the goal of wealth-building doesn't overshadow other life priorities and values.
• Financial Legacy: A legacy isn't built overnight but through the accumulation of strategic financial decisions and savings over a lifetime.

Notable Quotes:

1. "Think of your wealth as a wall that's built with bricks, with each brick contributing to your financial goal."
2. "Smaller targets are more motivating and more realistic sometimes, building momentum towards larger goals."
3. "The danger is if it's too much of your focus, it starts overshadowing other important aspects of your life."
4. "A legacy doesn't start the day you leave it. It's built over a longer period of time with habits and discipline."
5. "It's better to give to your kids with a warm hand than a cold hand."

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.