Join Ben and Pete on the 7th season of Money: Faith and Finance as they explore strategies for building wealth across various life stages. With insights into managing HECS debt, the importance of superannuation, and investing when young, they address financial challenges which we all confront. They discuss how lifelong financial habits shape wealth and consider the balance of current and future financial planning.

Key Takeaways:

• Focus on your current financial circumstances but always consider future implications.

• Younger individuals may have fewer overheads, allowing for more risk in investments.

• Superannuation might seem dull, but it’s a crucial component of a secure retirement plan.

• It’s never too late to develop sustainable financial habits — start small and grow.

• Financial decisions should ultimately serve your desired lifestyle and values, including the capacity to be generous.

Notable Quotes:

1. "The good and bad thing about money is every day is a chance to get it right and a chance to stuff it up."

2. "You can make decisions today, and the best ones put in building blocks for 'Future You'."

3. "It's never too late [even] if you're older."

4. "Pick something, build it, stick with it — every decade has its vibe."

5. "Superannuation is not something you should sleep on. Having a good retirement isn't boring."

Resources

• 2024 Woman Financial Planner of the Year Michelle Stone on podcast She Wasn't Born Yesterday - Listen here

Join the Money: Faith and Finance Group on Facebook here!

We love your questions. Contact the Money: Faith and Finance team and we will aim to get back to you in 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:

• Christians, like everyone, face daily financial struggles due to inherent human imperfection.

• Financial accountability and transparency are crucial for churches and organizations to maintain trust and compliance.

• Personal financial management can be improved through humility, seeking advice, and being open to mentorship.

• Overcoming fear of perceived greed is necessary to achieve effective financial stewardship.

• Practical tools like financial software and accountability partners can aid in better budget management and fiscal responsibility.

Notable Quotes:

1. "Explaining is better because it's more grounded in facts and there's less judgment." - Pete Burrows

2. "Money by itself isn't evil, it's probably more the love of money and the pursuit of it." - Pete Burrows

3. "Need isn't greed. Needing to be concerned with money does not mean you're greedy with money." - Pete Burrows

4. "Better questions get better answers." - Pete Burrows

5. "Good accounting isn’t just about debits and credits; it's about trust." - Pete Burrows

Join the Money: Faith and Finance Group on Facebook here!

We love your questions. Contact the Money: Faith and Finance team and we will aim to get back to you in 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:

• Retirement planning should begin as early as possible, ideally 20 years in advance, to maximize compounding interest and financial security.

• Financial guidelines suggest retiring with an income of half to two-thirds of one's working salary to maintain a comfortable lifestyle.

• Superannuation in Australia is a foundational retirement saving tool, but additional voluntary contributions are recommended for comprehensive coverage.

• Housing remains a significant consideration in retirement planning—whether to own, rent, or move in with family can notably impact one’s financial landscape.

• A fulfilling retirement is characterized less by financial wealth and more by meaningful activities, relationships, and contributions to the community.

Notable Quotes:

• "There's a big difference between retiring rich and having a rich retirement." - Pete Burrows

• "Start with an amount that is manageable for where you're at now." - Pete Burrows

• "It's about having a full life and interests… not just spending money and having a lavish lifestyle." - Pete Burrows

• "Get your house in order." - Pete Burrows

• "More money just brings you more choices; it doesn’t necessarily make your life better." - Pete Burrow

Join the Money: Faith and Finance Group on Facebook here!

We love your questions. Contact the Money: Faith and Finance team and we will aim to get back to you in 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.

One of the top episodes in time past! It's a cracker and would love you to consider tithing in 2025. Should we even do it? We already give a huge chunk of our pay to tax, 10% to GST and another 10% to ...God?

Key Takeaways:

• Understanding Tithing: Tithing originates from a Hebrew word meaning "one tenth," often interpreted in religious contexts as giving 10% of one's income or assets.

• Historical vs. Modern Practice: While traditionally a biblical mandate, particularly under Old Testament law, the necessity of tithing for modern Christians is debatable.

• The Heart of Giving: The discussion emphasized giving one's first and best to God, underscoring a priority-based approach to financial generosity.

• Practical Implications: Insights were provided on how tithing can be a useful discipline but not necessarily a compulsory act, reflecting a personal choice aligned with one's financial capability and spiritual commitment.

• Inspirational Examples: Rick Warren's example of incrementally increasing his tithe each year showcases a commitment to giving that evolves with one’s financial and spiritual growth.

Notable Quotes:

• "It takes money to make things happen, you know, and I think we say with our mouths that we're Christians, but like, you know, I always say to clients, well, would you be willing to put your money into that?" – Pete Burrows

• "It's not just first for God, it's best." – Ben McEachen

• "I think it needs to come from your heart and be sincere." – Pete Burrows

• "It is an element of us coming towards God and showing God how serious we are by the fact we are making that offering." – Pete Burrows

• "Tithing, not tiring." – Pete Burrows

Join the Money: Faith and Finance Group on Facebook here!

We love your questions. Contact the Money: Faith and Finance team and we will aim to get back to you in 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.

A replay from the archives but the advice given still is so relevant in 2025!

Glen James from My Millennial Money (now Money Money Money) shares on personal finance and life values, focusing on millennial money management, the impact of social media, and career advancement tips from Glen's book Sort Your Career Out.

Discover why aligning financial habits with your core beliefs can lead to prosperity, and learn practical advice on consumer debt, spending wisely, and investing in yourself.

Key Takeaways:

• Value-Driven Finance: Financial decisions should align with personal values, integrating moral and ethical considerations into financial planning.

• Invest in Yourself First: The best investment you can make is in your career; optimizing personal skills and professional growth can lead to substantial financial benefits.

• Pragmatic Risk-Taking: Learning how to identify and execute good career risks can significantly enhance your financial trajectory.

• Beware of Consumer Debt: Making informed choices about debt can prevent financial strain and promote future financial prosperity.

Notable Quotes:

• "I'm a pragmatist by nature. I'm a realist."

• "To be relevant, you need to know who you're talking to."

• "The more that I can invest for future me is the more I'm transferring my human capital into future investments."

• "A lot of the things that I do is just encourage people with the plan they're on."

Join the Money: Faith and Finance Group on Facebook here!

We love your questions. Contact the Money: Faith and Finance team and we will aim to get back to you in 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:

• Generosity's Broader Impact: Giving is not just about finances; it encompasses time, effort, and resources, enriching both giver and receiver.

• Cultural Reluctance: There is often stigma associated with asking for help, particularly financially, which can prevent people from seeking support.

• Financial and Spiritual Interplay: Act of giving aligns with core biblical teachings, fostering spiritual growth and community connection.

• Return on Intent: The benefits of giving lie in its intentions and the unexpected blessings that come, not just in financial returns.

• Reflective Practice: Embrace giving as a way to learn about humility, connection, and the shared human experience.

Notable Quotes:

1. "I think it has to encompass everything... People don't just give their money; they give their time, their resources, their energy." - Pete Burrows

2. "It is more blessed to give than to receive. That almost suggests that you should expect there to be Blessing coming back." - Ben McEachen

3. "It's okay to hope also means you can ask for help." - Pete Burrows

4. "True givings and true blessings often are long and could be potentially costly and painful." - Pete Burrows

5. "ROI - Return on intent, not return on investment. That is a very neat summary of this." - Ben McEachen

Join the Money: Faith and Finance Group on Facebook here!

We love your questions. Contact the Money: Faith and Finance team and we will aim to get back to you in 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.

Wow. Turns out you might have lost treasure (ie, money) and you didn't know. Good thing "Pirate" Pete Burrows and first mate Ben McEachen are here to help you find your forgotten funds.

Key Takeaways:

• Individuals often lose track of finances due to outdated personal information and inattention to accounts such as superannuation, resulting in billions of unclaimed dollars.

• The Australian Securities and Investments Commission (ASIC) provides tools like MoneySmart.gov.au to assist in reclaiming lost financial assets.

• Proactive life admin, including regular updates to personal details and account management, is crucial in preventing misplaced finances.

• Government initiatives and resources exist to help reunite lost funds with their rightful owners, benefiting both the individuals and the economy as a whole.

• Financial management isn’t passive; individuals must actively engage with and maintain awareness of their financial situations.

Notable Quotes:

1. "No one's going to be your PA! You have to do your life admin." - Pete Burrows

2. "The government does want to reunite us with our money." - Pete Burrows

3. "Where was the last place you put it? Go back there." - Pete Burrows

4. "Have I gone through every super account I've ever had?" - Ben McEachen

5. "It's easier to find a place for something you have rather than search for something you've lost." - Pete Burrows

Join the Money: Faith and Finance Group on Facebook here!

We love your questions. Contact the Money: Faith and Finance team and we will aim to get back to you in 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.

Joining us again is financial planner Hamish Ferguson, founder and director of Vison Newcastle. Hamish and Money's chief accountant Pete Burrows are often approached for financial assistance that the other profession provides. Given how popular and prominent accountants and financial planners are, Pete and Hamish set the record straight in this episode. They discuss similarities between accountants and financial planners, the main differences, and the benefit to you when you decide who you need.

Previous Ep featuring Hamish - What is a Good Financial Planner?

Key Takeaways:

• The intersection between financial planners and accountants involves overlapping functions but distinct responsibilities which require specialised expertise.

• Ethical considerations, such as risk-return balance and truthful tax deductions, are crucial in both financial planning and accounting.

• Times of increased financial anxiety, such as during COVID pandemic, highlight the need for professional financial guidance.

• Clients often benefit when accountants and financial planners collaborate, leading to more effective long-term financial strategies.

• Retirement planning questions are common, emphasising the need for clear understanding and planning decades earlier.

Notable Quotes:

1. "The relationship between a good planner and accountant [is] one plus one can equal three." - Pete Burrows

2. "Everyone wants the return, but nobody wants the risk." - Hamish Ferguson

3. "Managing that whole risk-return relationship is very important." - Hamish Ferguson

4. "Don't be afraid to engage a professional but understand why you need them and how far they can help you." - Peter Burrows

Resources:

• Vision Property & Finance: Vision Property & Finance

• Money Smart Website: Money Smart Website

Join the Money: Faith and Finance Group on Facebook here!

We love your questions. Contact the Money: Faith and Finance team and we will aim to get back to you in 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.