money myths

What are the common money misconceptions you've heard before? In this episode, we're bunking a few that we believe don't always stand true.

It's #MoneyMonth in NZ during August; A yearly campaign run by Te Ara Ahunga Ora Retirement Commission (Sorted NZ). Money Month helps Kiwis maximise their money in a way that’s relevant in the current climate.

To celebrate, we're debunking the money myths that might be taking up valuable brain space. All so you can pause, and get your money sorted. 

In this episode, we chat about:

• Why you don't need to feel bad about your weekly treats, especially those $5.50 coffees!
• If investing in property is *really* the 'best' way to build your wealth in NZ
• Why old financial timelines that worked for your parents/grandparents probably won't work for you in this day and age
• Whether side hustles are worth the time investment or not 
• Why you don't need hundreds of thousands of dollars to get started investing

Check out the resources mentioned during the episode:

1. Stuff Article Price of Coffees
2. Evergreen Advice Article: Are Rental Properties Still Worth It?
3. PEW Research: Why People in Their 20s Aren't Reaching Financial Milestones as Fast as Boomers Did

For clarity, here are the specific stats mentioned in the podcast:

• Property Price Returns - 6.25% Price Returns (as at 31.07.23)
• S&P NZX 50 Index 10-year annualised return - 6.57% (as at 1.08.23)

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Got questions? Get in touch: www.itsnosecret.co.nz

Women have made gigantic strides toward equality in recent years but still face financial challenges that men don’t. It’s hard to believe that, in this day and age, women are still not considered equals when it comes to money management. This podcast takes a look at the myths surrounding women and money. Licensed Insolvency Trustee, Francyne Myers shares her insights gathered over the 20 years she has been working with people in debt. 

Along with busting the myths around women’s poor money management skills, she also discusses:

• How women (and men) get into debt
• The influence social media has on young women
• Why you’re not responsible for the financial health of others
• How to teach kids about money and how to stand on their own 2 feet
• Having difficult conversations and setting boundaries with your kids
• What is disposable income and how to increase it 

Licensed Insolvency Trustees like Francyne Myers are federally regulated and approved by the Canadian government. With their extensive financial knowledge, they will give you honest advice about how to deal with unmanageable debt.

About Francyne Myers

In 2012, Francyne left her 23 year public service career and joined Allan Marshall & Associates where she completed her education and became a Licensed Insolvency Trustee in 2013. Alongside with her work she is actively involved in her local Trustee Association. In her spare time Francyne can be found fishing and spending time with her family.

Additional Resources

• Allan Marshall & Associates Licensed Insolvency Trustee
• Myths About Bankruptcy
• Considering Hiring a Financial Advisor to Help Manage Your Money? Here’s What You Need to Know

Capital raiser, syndicator, and CEO of Erbe Wealth, Stephanie Walter, believes that we need to start viewing money as something that should be working for us right away. And she’s graciously sharing how we can see past old money myths and tap into the investment strategies used by the wealthy to create a positive cash flow. Get out your pen and paper because she’s giving us all the details on how to make our money work for us and how we can immediately set ourselves up for increased abundance.

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This Episode is all about a very conservers topic....making MONEY! I debunk 3 common Money Myths and share 3 Money phrases that must be eliminated immediately. I also share a way to start making money today! See you inside the episode! 

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