F.I.R.E., Life Hacks, More experienced Investors, New To Finance, Review, Uncategorised

Three things I’ve learned from Paula Pant’s Afford Anything

How do you take a philosophy, and a methodology of thinking, and turn it into a business?

Paula Pant has done it with Afford Anything.

She is a woman of colour, an entrepreneur, and a kick-ass lady. But her most important asset is that she likes to think, and she likes to learn.

www.affordanything.com

From Paula, I’ve learned

Small, repeated actions add up to big results. Listening to Afford Anything got me thinking about savings and investments. That got me searching for ways I can do that to fit my lifestyle. Paula says focus on the process rather than the outcome .

What I came up with is twice per month, once after my pay and once after my interest comes in, I make all the numbers in my savings accounts line up in a row. (Savings Account 1: $6222, Savings Account 2: $7222 etc). This has the effect of adding an extra $22.19 here, and an extra $7.54 there, which makes the total go up higher than it would by just adding $300 per month.

And my inner child loves seeing all the numbers add up in a row.

Relationships are more important than stuff.  In this blog, Paula talks about how one of the best ways to heal trauma is to connect with other mammals and focus on building relationships.

That is one of the lessons of my life already. Friends, relationships, family, and caring about people has enriched my life inexpressibly. Having friends involves some simple repeated actions and being kind.

Something I do, is that my teacher buddies and I have coffee together during the school holidays. I initiate one text every school holidays, and if we’re free enough, we catch up.

And my social-self loves having stable, loving friendships.

Look at what other people are doing well, and do that. Paula speaks to people who are interesting and who also think. She’s a thinking person who talks to people who think.  I love this so much.

My little brain just goes “Yaaaaaay” any time she has someone new on her podcast. I’ve bought so many books after listening to the people on her blog. Currently reading: Andrew Hallam, Millionaire Teacher because of listening to her show.

Something else she does really well is having a variety of reader cases (you can ask your questions) with regular guests, and completely new guests and ideas.

…………………………………………………………………

By reading this blog, you agree that you read it under your own risk, and Gill’s Practical Bookkeeping is in no way responsible for any harm or prejudice to yourself, your business, or any fictional examples above.

I am not a financial advisor. I do not have an AFSL. I am a chick who likes to read, think, write, and has access to google. You should treat this blog with the same seriousness that you would treat anyone whose main qualification is access to google. This blog is for entertainment purposes only. It’s a little like watching The Good Place for nerds or artists.

Anything you take from this blog is your responsibility. Nothing in this blog, even if you are mentioned by name, address, and telephone number, pertains to your personal situation. Anything you agree with, or disagree with, you are welcome to comment on, but your opinions belong to you. You are responsible for your comments. If they are offensive, I will remove them.

https://www.patreon.com/gillspracticalbookkeeping

Beauty
F.I.R.E., Life Hacks, Review, Uncategorised

Review: Derek Dammers Youtube Channel from a Marketing Perspective

On Derek Dammers’ youtube channel, he’s fishing both for living humans and living fish. He’s a salary man, who fishes in his spare time, and is slowly turning his favourite hobby into a business. He has fished for forty years around the harbour, rivers, and lakes of Sydney. He’s an extremely technical person, and a bit of perfectionist. He’s also patient and quite gentle, which makes him a good teacher.

Here are some of the great things he’s done:

  • Visual acuity and slow motion. This channel is perfect for visual learners. Anyone who wants to watch again and again and again to perfect their casting technique can.
  • Beautiful settings and surrounds. Each of these videos is shot in areas of great beauty both formed by humans and natural.
  • Short Videos. The longest video is 40 seconds long. This succinctness means that there is no superfluous information and you never waste your time watching.
  • Thoughtfulness of shooting and subject. If you’re looking to improve your physical know-how, this is a great way to do it. He’s really thought about how to teach, and what to teach, and he’s done a good job.

Here are some of the things he could improve:

  • Not everyone is a visual learner. Some people need to hear a story, or might need words to understand what you’re doing.
  • Credentials. Derek is a teacher, trying to set up a business as a teacher, but he’s establishing his credentials as an expert, rather than a teacher.
  • Accesibility. If you’re trying to teach beginners, or less experienced fishermen, they’re not necessarily going to understand what you’re doing right, and what they’re doing wrong

Suggestions:

  • Add a couple of 2-minute videos explaining what’s happening in the short videos
  • Put up student testimonials, and videos of lesson before and afters
  • Do a beginners series for those going fishing for the first time
  • Embed a button in each video with a Call To Action leading to what you’re selling

Overall, a great channel for anyone who wants to learn fly fishing or anyone who wants to see some great photos and videos of Sydney Harbour.

Check it out: https://www.youtube.com/channel/UCEc6ld_-5SihhuXYn0o57wQ

…………………………………………………………………

By reading this blog, you agree that you read it under your own risk, and Gill’s Practical Bookkeeping is in no way responsible for any harm or prejudice to yourself, your business, or any fictional examples above.

I am not a financial advisor. I do not have an AFSL. I am a chick who likes to read, think, write, and has access to google. You should treat this blog with the same seriousness that you would treat anyone whose main qualification is access to google. This blog is for entertainment purposes only. It’s a little like watching The Good Place for nerds or artists.

Anything you take from this blog is your responsibility. Nothing in this blog, even if you are mentioned by name, address, and telephone number, pertains to your personal situation. Anything you agree with, or disagree with, you are welcome to comment on, but your opinions belong to you. You are responsible for your comments. If they are offensive, I will remove them.

https://www.patreon.com/gillspracticalbookkeeping

New To Finance

What should I do with my hard-earned cash?

This is a question that everyone has to answer. Are you working full-time? Part-time? Casual? Relying on the bank of Mum and Dad? Whatever your income source, one of the biggest questions you’re going to have to ask yourself, is ‘What am I going to do with my money?’

Conventionally, this is called a budget.

Hmmm… let’s say God waves her magic wand today and delivers you a job that pays a cool million dollars per year—what would you do with the cash?  Buy a great apartment ($700 000)? Brand new car ($100 000)? Spend the rest on the pokies at the local RSL? Congratulations, you just made a budget.  Budgeting just means you plan where to put your dough.

One of the most important rules of budgeting, is to decide how much you want to put into savings/investments, and then live within your means. Living month to month, or spending up big on credit cards, is the easiest thing in the world, but it will not help you to become financially independent in the long term. So decide how much you want to spend, and  stick to that limit no matter what.

Here’s a real example: An engineer I know earns a $100 000 package.

$9500 of this goes straight to super (Yeah! Long-term retirement savings!).

Around $20 000 goes to tax (this changes slightly year to year according to legislation, charitable donations, other deductions, etc).

He then has around $70 000 to live on.

He pays around $12 500 per year for strata, rates, and bills.

He pays around $5 000 per year for his car expenses all up (he drives a new-ish reliable hybrid–engineer, right).

He pays around $17 500 for all of him and his partner’s food.

He pays $2 000 per year for private health insurance.

He puts around $24 000 per year into savings and investments.

Leaving him $9 000 for fun, education, charity, hobbies, gifts, magazines, and holidays.

This is a basic example of a budget. “I can’t save $2 000 per month!” Well, I hear you. There are plenty of people in Australia, who work more than full time hours and will never earn more than around $40 000 per year. But what if you could be one of the people who invests $24 000 per year? Or more? Are you earning $100 000? It’s not actually that much by Australian standards. How much are you really spending on alcohol and nights out with friends?

“But I’ve got a mortgage!”  Yep. Hear that, too. If you’ve got debt, use your savings money to pay it off as fast as possible. Once you own your property or you’ve paid off your personal loans or credit cards, use that money to invest. Don’t put any charges on your credit cards that you can’t pay off by the end of the month. $500 shoes are a want, not a need (not that I’m judging, if you can afford it out of your ‘fun money’– go for it).

…………………………………………………………………

By reading this blog, you agree that you read it under your own risk, and Gill’s Practical Bookkeeping is in no way responsible for any harm or prejudice to yourself, your business, or any fictional examples above.

I am not a financial advisor. I do not have an AFSL. I am a chick who likes to read, think, write, and has access to google. You should treat this blog with the same seriousness that you would treat anyone whose main qualification is access to google. This blog is for entertainment purposes only. It’s a little like watching The Good Place for finance nerds.

Anything you take from this blog is your responsibility. Nothing in this blog, even if you are mentioned by name, address, and telephone number, pertains to your personal situation. Anything you agree with, or disagree with, you are welcome to comment on, but your opinions belong to you. You are responsible for your comments. If they are offensive, I will remove them.

https://www.patreon.com/gillspracticalbookkeeping