May 16, 2021

Mindful Money with Canna Campbell

Mindful Money with Canna Campbell
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Mindful Money with Canna Campbell
Mindful Money with Canna Campbell
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Season 6 Financial Wellbeing

Are you good with money? Financial advisor, Canna Campbell talks with Cass Dunn about the importance of having a solid financial plan and the simple ways you can start to pay down debt and begin saving and investing even if you’re on a low income. With women typically retiring with 47% less superannuation than men and older women being the most likely group to live in poverty this is an important conversation for all of us.Canna’s books are called “Mindful Money” and “The $1000 Project”.
Connect with Canna:
www.sugarmamma.tvInstagram: @sugarmammatv
Buy Canna's book Mindful Money here: https://tinyurl.com/7pmjk6df
Connect with Cass:www.crappytohappypod.comhello@crappytohappypod.com 
www.instagram.com/crappytohappypodwww.tiktok.com/crappytohappypod
Join the free 7-day Happiness Challenge:www.cassdunn.com/happiness

Connect with Cass:

www.cassdunn.com
www.instagram.com/cassdunn_xo

Contact Crappy to Happy:

Email: hello@crappytohappypod.com
www.crappytohappypod.com
www.instagram.com/crappytohappypod
www.tiktok.com/@crappytohappypod


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Transcript
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A listener production.

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This is Crappy to Happy and I'm your host, Cas Done.

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I'm a clinical and coaching psychologist, a mindfulness meditation teacher,

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and author of the Crappy to Happy books. In this show,

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I bring you conversations with interesting, inspiring, intelligent people who

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are experts in their field and who have something of

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value to share that will help you feel less crappy

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and more happy. Today, I'm talking with Canna Campbell. Canna

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is a licensed financial advisor and the founder and director

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of SaaS Financial Services. When Canna found herself very very

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broke after her divorce and needing to keep a roof

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over the head of herself and her young son, she

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embarked on a project which she now calls the one

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thousand dollar Project, and that first one thousand dollars has

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now turned into a significant and growing investment portfolio that

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delivers her a passive income and she is all about

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passive income. She went on to write a book about

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that experience called The one thousand Dollar Project, and more

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recently she has written a second book called Mindful Money,

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which is a great read for anyone looking to improve

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their financial situation. And let's face it, who isn't. Canna

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also shares her financial advice on her YouTube channel called

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Sugar Mama and her website. Canna is really passionate about educating, inspiring,

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and empowering every individual to create financial harmony, freedom and

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independence in their lives. She helps people to get out

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of debt to start saving no matter what circumstances you

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find yourself in, and I think that you will find

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that she shares a whole lot of really valuable tips

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and information. I really hope that you enjoy my conversation

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with Canna. Canna, thank you so much for being a

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guest on the Craffy the Happy podcast.

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Thank you for having me.

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I know that you are so under the pump at

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the moment, so I really appreciate you making the time.

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And you and I have been trying to organize this

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conversation for I think about a year and a half,

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and with our busy schedules and then COVID, it just

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keeps being pushed out. So I'm so glad that you're

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managing to fit this conversation in.

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Now.

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Speaking of COVID, you know, I think twenty twenty really

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demonstrated to all of us just how uncertain and unpredictable,

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and how suddenly you know things can change regardless of

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your individual circumstances financially or workwise. We were all confronted

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with the fact that nothing is really certain or guaranteed.

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So I guess on the other side of that, what

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I'm curious to hear from you is like, what other

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things for those of us who've had a wake up call?

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What are the things that we should be thinking about

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and putting in place to protect ourselves from those kinds

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of scenarios.

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Well, first of all, I think it's about our attitude

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and mindset to everything that's gone on. You know, whenever

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something like this happens, it's such a wake up call

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and a wake up call or is a blessing because

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it's an opportunity for us to grow becomes smarter, wiser,

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more intuitive. So I think it's been a wake up

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call for us all to realize we're not financially invincible.

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We need to be respectful and mindful of the way

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that we use money, spend money, build.

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Money, and protect money.

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So it's really important that first of all, we respect

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what's gone on, and it's that we're able now to

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for lots of us have the opportunity to to, I guess,

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make a shift or a change for the better financially.

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And where would we start with making that shift? For

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somebody thinking, okay, I really need to start spending layers,

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putting something away for the future. Your most recent book,

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which is not so recent now, is Mindful Money. And

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before that you had a book called one thousand dollar Project.

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Can you tell me about the thousand dollar project? And

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is that a good place for people to start with

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starting to build a nest egg or build a buffer?

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Okay, well, there are two questions there. So the first

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thing is where do I start? And then the thousand

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dollars projects? So where to start is really is number one?

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I said, you get the toxic debt out of your life.

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You need to clear the debts. So if you've got

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credit card debt, a personal loan maybe outstanding by now

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pay laters, you need to get on top of those quickly.

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So you know, that's where you would write a budget

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out look at how much you can afford to contribute

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on top of the minimum repayments so that you get

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that debt out of your life. And I have this

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thing called a hitless strategy where you start with the

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smallest debt through to the biggest debt, And it's not

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actually financially the smartest thing from a Nu miracle perspective,

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because sometimes obviously interest rate might be higher on the

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bigger debts, but it's when you're juggling multiple debts, it's

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kind of like juggling lots of balls in the same air.

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In the air not the same are.

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So imagine you're juggling and say six different balls. If

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I take one ball out of the air for you quickly,

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it's going to make juggling the remaining five much easier

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for you.

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So that's why I recommend you, know, you get rid

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of the smallest.

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Debt first, and then go to the second smallest debt

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than the third, and each time, you know, you free

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up that cash flow. I've now got two sources of

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additional repayments to now move on towards the next So

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it's very similar to the snowball technique. So the first

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thing is get rid of the debts, like do a budget,

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write down some goals, and track your progress so you

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can actually go, wow, my debts are coming down. My

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overall debt is now eight thousand dollars. And it's now

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seven and a half thousand dollars and the next time

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I check it it's six eight hundred, And you can.

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See the progress you're making in that.

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One of my I Guess mantras or messages is progress

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fuels success. So when you see it's like being on

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a say you're going on a fitness plan or a

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weight loss journey. You know when you get on the

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scale and go, wow, I've lost other half a kilo,

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or wow, I can run that extra kilometer or I

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can mentpress that extra five kilos, you go wow, I.

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Want to keep going because this is working.

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The sacrifices of getting up early and going for a

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run or saying no to dessert one night a week

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are paying off. So track it and then the moment

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you're debt free, build up emergency savings so that you

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never get into debt like that again. Keep using your budget,

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keep you and then obviously, once you've moved on from

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the emergency savings, work towards building an investment portfolio that builds.

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Your passive income, which creates true financial freedom.

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So the thousand dollar project after your second question, is

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how you can use You can use a thousand dollars

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project all the way through from paying off your debts,

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stability of promotionency savings to investing. And the thousand dollars

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project is something I started about just one hundred six

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years ago and it's now a two hundred.

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Thousand dollar share portfolio.

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Wow, does have a I should disclose fifty thousand of

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that is a margin loan, but it is. You know,

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it pays me a passive income of seven and a

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half thousand dollars a year that goes to World Visions

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one thousand girl project.

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Wow, that's amazing. That's really inspiring for people to hear

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that you can. Something that can start so small has

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so much potential.

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Absolutely, And I should also point out I started that

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thousand dollars project just after my marriage ended. I'd gone

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through an expensive divorce. You know, my budget to keep

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my son in the same home, you know, I had

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to pay for so I was on a really type

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budget myself to keep us afloat financially.

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So I had no money to invest.

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And I was like when I had launched Sugar Mama

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literally two weeks before my marriage ended, and I said

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to myself, in my gosh, how am I going to

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invest again, I'm on a type budget. I don't really

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have any savings to throw it towards investing. It's all

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going towards my legal fees and the mortgage. So I

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sort of said, well, what have I done in the past,

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And I'm like, I've hustled.

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I've just focused on.

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Small, bite sized goals, one at a time that it

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will been positively.

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Correlated towards one big goal.

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And you know, in my first year of doing a

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thousand dollar project, I had invested thirty two thousand dollars.

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And that is not a dollar came for my budget,

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not a dollar came for my salary, and not a

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dollar came from my savings. It was all money that

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I hustled, did frugal challenges, worked on the weekends, took

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on extra projects, sold things, decluttered.

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That's how I did it.

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And I look at it now and just go, oh,

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my goodness, how I managed to do this is incredible.

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It is incredible.

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And I really like that point because I think so

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many people think, well, it's okay if you've got the

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money to invest, but you really or if you've got

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the income coming in or whatever, but you really demonstrated

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that this was all extra money that you found.

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I didn't have any money, like literally, I mean, I

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remember my ex husband said to me, you're going to

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die financially, You're going to drown. You've had to take

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borrow this money to pay me out to get out

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of this. You know, you can't even take the bins.

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Out at night. And he was right, Like I was.

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I really stretched myself to get out of it, and

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he knew that, and it was you know, I was like,

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I'm going to prove him wrong. And he's like, you know,

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you can't even take the bins out at night. So

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when you know, I'm now at a different house. But

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I used to like happily banged these heavy bins down

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my front steps and not going I can't down that

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at night, like and I did it.

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Look and look.

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There were a couple of sacrifices at the time, and

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there were highs and lows, but the sacrifices were miniscule

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in the scheme of things. Because I grew so much

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wi a person, I started a thousand dollars projectors of

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shell of a human being. I had so much anxiety

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and fear and self doubt and low self esteem and

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you know, I was like, when I, you know, made

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my first thousand dollars, I was like, Wow, that wasn't

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actually so hard, and it happened quite quickly, and the

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thousand dollars project for me was very much part of

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my healing process.

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I'm so glad you brought that up, because one of

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my questions for you was going to be that for

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women especially, they can be so devastated by financial breakups,

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especially if they're the ones staying at home. They retire

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with something like forty seven percent less super and so

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I'm really interested.

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And one of the.

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Reasons I was so desperate to talk to you was like,

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how do women do this to protect themselves?

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Yeah, it's a really serious problem.

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A lot of women are retiring in poverty and they

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don't realize it until it's too late. And that's one

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of my big messages and my big missions is to

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help women financially. Obviously, my content is is for both genders,

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but it's particularly women because you know, being a mother

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or being caring for someone else, it's so easy to

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put our own priorities so far down the list.

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And you know, we all know our lists get multiplied

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all the time.

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We're all getting you know, you just get pushed further

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and further down, and time goes by, and a year passes,

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five year passes, ten years pass. Sometimes you know you think,

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of my goodness, what have I done? I've like, what

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am I going to do for money? And there are

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things you can do and the number one is to

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start educating yourself. So much of this boils down to

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financial literacy. And if the word facial literacy is such

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a boring sub name, but I'm even bored here in

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the word financial literacy, like my eyes glaze over. But

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it's about knowing how to be smart with your money.

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It's like knowing, okay, well I don't go get myself

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into debt. I know to put my foot down and

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say no. If I'm staying at home looking after the

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kids or cutting down to part time work, we need

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to factor into a family budget. You know, some money

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that goes into my superannuation in the meantime whilst I'm

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missing out on my employee contributions.

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It's about having fun, try goals.

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It's about knowing how to stick to a budget and

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why a budget is so important that the whole.

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Family is financial wellbeing.

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It's about making sure that you have some money set aside,

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you through an investment portfolio, building up what I call

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your mind for money number, which is what really is

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my number one foundation message is about building up a

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passive income stream. And I've coached thousands of women through

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these sorts of situations to help them get back on

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their feet financially and make up for lost time. And

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the important thing is I want to stress is it's

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never too late to start investing. It's never too early,

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of course, but it's never too late, and you're never

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too old. And it's amazing what you can achieve when

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you put your head, heart in mind to it and

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you feel really committed and connected to making a breakthrough

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or having a shift.

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It's as if you're in my head. Half of those

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things that you just said, well all on my list,

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you know, for the people who think they're too old?

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Are they people who think it's too late? And I

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even had down here you know some of these terms

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ETFs A, LICs, and you know, your eyes glaze over.

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But how important is it to have financial literacy? You

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just answered the question.

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It's like knowing what to eat, you know, knowing how

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to we need to at least three to.

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Four you know, leafy vegetables a day, and to balance

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it with some vibrans and carbohydrates and a little bit

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of sugar like and I'm not about you know, some

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people will assume I'm a financial planner, so that I'm

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all about being frugal and depriving yourself and you know,

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drinking instant coffee and taking a packed lunch to work

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every day. How I will point out, my lunch today

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is here. This money is going to go towards a

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thousand dollars project.

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Can confirm me and is holding up her packed lunch.

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I have yoga, chopped carrots and littook chocolate. But it's

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I'm not I'm actually all about balance. You know. Yes,

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I might take my lunch to work three days a week,

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but then I'll enjoy a cafe takeaway lunch one or

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two times a week.

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You know, I love.

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If you follow me on Instagram, you'll see that I love.

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My vice is a nice beautiful handbag.

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What's a year? But I deal it with balance.

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I do it if I've achieved my fundancial goals and

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also my lifestyle goals, you know, around fitness and relationships

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and spirituality, and know intellectual growth.

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So it's I'm not about depriving.

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Yourself of being mean or strict or following some sort

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of formula that I think is on ristic. It's about

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working with what you've got, doing the best you can,

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setting goals, debt a stretch, debt a dream, and always

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review and tweak, adjust with your lifestyle, adjust with your opportunities,

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but always come from an abundant mindset.

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It's interesting that you brought up the you know, we

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know what to eat, and I think for me, I

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often think that food and dieting is much like money

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and budgeting. We kind of do know what to do,

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but there can be a whole lot of other emotional

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and psychological issues that get in the way of us

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doing the things that we need to do. How important

303
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is it for us to address those psychological issues huge.

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This is where I think I'm quite different from, for example,

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other financial.

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Experts, and I'm not disrespecting them in any way.

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But that's why I sort of said to you, my

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hitless strategy is actually not financially correct.

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It's more about the psychology of money. Yes, it is.

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If you google how to get out of credit card debt,

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they'll all say, start with the debt that's got the

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biggest and highest interest rate. Mine's different because I'm all

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about progress. If you can see that it's paying off,

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it's working, you're more likely to keep going and see

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it all the way through to the end, till that

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final dollar is paid off. So yes, it may cost

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you a little bit in the long run when you

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look at the expense, but I believe you'll pay it

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off faster and with a greater sense of joy and

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balance and pleasure, and feel far more committed to work

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on to the next goal, such as emergency money or

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even investing by working at the psychology money. And this

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is also why I'm actually very much for a redraw

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facility instead of an offset account for your home loan,

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even though financially they're equal.

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I believe that, and I've.

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Seen this from my own personal experience and from you know,

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the thousands of people have coached, and also from my

329
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own financial planning clients satas financial is, I find that

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you know, say, for example, you have an eight hundred

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thousand dollars home loan, and you've got to say, fifty

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thousand dollars in your offset account, so that fifty thousand

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dollars is offsetting the eight hundred thousand dollars loan, so

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you're only being charged interest on seven hundred and fifty thousand.

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My issue is, and this is why I swur the

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banks create these products, is because they know this will

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do this.

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A lot of family has become fixated. They're like, oh,

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we don't need to really worry.

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So much about the budget, or we can let a

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few things slide because we now have fifty thousand dollars

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in our offset account. You know, and they're fixated on

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that fifty thousand dollars.

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It's access like smoke and mirrors, and you won't really budget.

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It's hard.

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You'll let you know, you'll spend a bit more than

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what you should be doing, or you know you'll you'll

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only be committed to your goals because you're like, no,

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we've got fifty one thousand heats in the in the

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offset account.

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It's fine, don't worry.

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That fifty thousand dollars is masking the fact that you

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have a seven hundred and fifty thousand dollars mortgage that

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you need to pay off and to take thirty years

355
00:16:01.039 --> 00:16:02.799
to pay for your home loan is madness.

356
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Forget the bank's prescription. It's fought with problems.

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This is why for the redraw facility, transfer that fifty

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00:16:10.320 --> 00:16:12.919
thousand dollars to your home loan. See your home loan

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for what it really is, seven hundred and fifty thousand

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dollars home loan. Financially, the system is no difference. But

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you'll suddenly your goal becomes a lot clearer. You have

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a much more honest perspective of your reality, and you go, right, actually,

363
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we've got to seven hundred and fifty thousand dollars Morgach. Yes,

364
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there is fifty thousand we can draw redraw from emergency. Yeah,

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that's great, and that's sensible and wise. But the end

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of the day, that's what we need to target, is

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that seven hundred and fifty thousand dollars mortgage. The fifty

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00:16:40.919 --> 00:16:43.120
thousand redraw facility or whatever is in you're sitting in,

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your redraw facility acts as a band aid or foundation

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to the reality of the quality of your skin.

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I guess you could say, and I think also, you know,

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at a deeper level, there's a lot of messaging that

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we have grown up with about you know, when we

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start talking about passive income or financial freedom. There are

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so many people who have grown up with money doesn't

376
00:17:04.599 --> 00:17:07.680
grow on trees, or there's never enough money, or you know,

377
00:17:07.759 --> 00:17:10.920
all of that stuff that can get into our subconscious

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and get in the way.

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It can get in the way, or it can be

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something that teaches us and we grow through it. I

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00:17:18.359 --> 00:17:20.240
come across so many people who say to me, oh,

382
00:17:20.279 --> 00:17:23.839
I'm no good with money, and I'm like, cut the crab, Like, seriously,

383
00:17:24.480 --> 00:17:27.039
that's not true. You've managed to pay for all the

384
00:17:27.039 --> 00:17:29.119
clothes in your back, You've paid for this appointment to

385
00:17:29.160 --> 00:17:31.759
see me, You've got you know, you've got money.

386
00:17:31.559 --> 00:17:34.240
In your superannuation account. That's not true. That's just a

387
00:17:34.319 --> 00:17:35.279
story you're telling.

388
00:17:35.039 --> 00:17:38.720
Yourself to remain in safety and comfort of being a victim.

389
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And you know that conversation and that language and that

390
00:17:42.400 --> 00:17:46.160
self talk holds you back and gets you nowhere and

391
00:17:46.200 --> 00:17:49.359
actually is only going to make your financial journey much harder.

392
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And I would never ever recommend someone sweep.

393
00:17:51.880 --> 00:17:54.079
Under the mat bad habits have had in the past

394
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or maybe their upbringing, because I have watched a lot

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of us, particularly in my practice of satas financial clients

396
00:18:00.720 --> 00:18:04.759
who have actually used their bad their negative history or

397
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their upbringing to channel and motivate them to achieve amazing

398
00:18:08.079 --> 00:18:10.599
financial success. So this is when you start to go

399
00:18:10.680 --> 00:18:12.960
all right, I'm going to step into a place of empowerment.

400
00:18:12.960 --> 00:18:15.119
I'm going to take a full responsibility and ownership of

401
00:18:15.160 --> 00:18:17.240
my past. But you use it then in a powerful

402
00:18:17.240 --> 00:18:20.319
way to create change. And you say, in the past,

403
00:18:20.359 --> 00:18:22.160
I have got myself into a lot of product card debt.

404
00:18:22.240 --> 00:18:24.480
But right now I'm doing all these amazing things to

405
00:18:24.519 --> 00:18:26.880
get myself out of it. And it's working, and every

406
00:18:26.920 --> 00:18:29.359
day my debt's coming down, and every day I'm learning

407
00:18:29.400 --> 00:18:31.400
something more and more about myself, and I'm excited about

408
00:18:31.400 --> 00:18:32.160
the progress I'm making.

409
00:18:32.200 --> 00:18:33.240
And I'm actually starting.

410
00:18:33.000 --> 00:18:36.160
To realize once my debt's paid off, I can start investing.

411
00:18:37.039 --> 00:18:38.839
You know, Or you say, yes, I'm really aware that.

412
00:18:38.880 --> 00:18:40.640
You know, my parents were really bad with money and

413
00:18:40.680 --> 00:18:43.119
really responsible when I grew up in immense poverty and

414
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you know, scarcity and missed out on a lot of things.

415
00:18:46.839 --> 00:18:50.079
But I'm building a bigger.

416
00:18:49.599 --> 00:18:52.759
And better future for myself where I'm not repeating history,

417
00:18:52.920 --> 00:18:54.799
I'm not reliving my parents' past.

418
00:18:55.119 --> 00:18:56.079
I'm building my own.

419
00:18:56.440 --> 00:18:59.039
And they use that as a motivation and drive to

420
00:18:59.119 --> 00:19:01.799
create the pole opposite of what they grew up with.

421
00:19:02.400 --> 00:19:05.240
So it can actually be a very very powerful tool

422
00:19:05.319 --> 00:19:09.480
of growth and self development. And you know, you start

423
00:19:09.519 --> 00:19:11.799
to realize, oh my gosh, I'm actually really quite powerful. Yeah.

424
00:19:11.799 --> 00:19:12.920
It's empowering, isn't it.

425
00:19:13.160 --> 00:19:13.440
Yeah?

426
00:19:13.519 --> 00:19:14.799
Yeah, And you start to go, well, I can do

427
00:19:14.839 --> 00:19:17.319
this in my health and wellbeing, I can do this

428
00:19:17.359 --> 00:19:20.160
in my relationships, in my intellectual growth, like all the

429
00:19:20.200 --> 00:19:23.039
other components of our lives.

430
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I hope that you're enjoying this conversation and realizing the

431
00:19:28.839 --> 00:19:31.720
benefits of positivity in your own life. If you are

432
00:19:31.839 --> 00:19:34.559
enjoying the show, please be sure to like and subscribe

433
00:19:34.599 --> 00:19:36.920
so that you get notified when you apps drop and

434
00:19:37.000 --> 00:19:39.440
head on over to Apple Podcasts or wherever you listen

435
00:19:39.519 --> 00:19:48.480
and leave us a rating and review. So ken I,

436
00:19:48.559 --> 00:19:52.160
once we've addressed the debt, head on, paid down the debt,

437
00:19:52.200 --> 00:19:54.680
and let's say I have got one thousand and five thousand,

438
00:19:54.720 --> 00:19:57.680
like a small amount of money. A lot of people

439
00:19:57.720 --> 00:20:03.400
feel intimidated by stocks and and investment portfolios. Is it

440
00:20:03.440 --> 00:20:07.720
possible these days to invest in shares with a small

441
00:20:07.759 --> 00:20:09.880
amount of money. I'm sure I read in your book

442
00:20:09.880 --> 00:20:11.559
that these days you're like, you don't need a massive

443
00:20:11.559 --> 00:20:13.880
amount of money to go buy shares.

444
00:20:14.400 --> 00:20:18.359
The thousand dollar protects started with one thousand dollars, right, Look,

445
00:20:18.400 --> 00:20:20.559
Actually you can invest with the zizlas five hundred dollars.

446
00:20:20.599 --> 00:20:24.039
I personally recommend you wait until a thousand brokerages on

447
00:20:24.079 --> 00:20:27.799
average twenty dollars and look, the best and fastest way

448
00:20:27.880 --> 00:20:31.319
to build up a diversified quality investment portfolio is to

449
00:20:31.440 --> 00:20:34.200
use something like a listed investment company or an ETF,

450
00:20:34.200 --> 00:20:36.920
an index style to ETF. The people going, well, hang

451
00:20:36.920 --> 00:20:39.480
on WHI shall I see or ETF should I be buying?

452
00:20:40.119 --> 00:20:42.359
I actually share about five or six of them in

453
00:20:42.480 --> 00:20:46.640
Mindful Money that I personally own and I really like

454
00:20:46.720 --> 00:20:50.559
as a quality, long term, high growth risk profile perspective.

455
00:20:50.599 --> 00:20:54.279
And even on my Instagram account on my ig stories,

456
00:20:54.319 --> 00:20:58.160
every now and again, I share a snapshot what the

457
00:20:58.240 --> 00:21:01.039
thousand dollar project portfolios may off. So I share all

458
00:21:01.119 --> 00:21:04.640
the stocks and eatfs and l sees in the accountant.

459
00:21:04.960 --> 00:21:06.039
It's funny people messaging me.

460
00:21:06.079 --> 00:21:07.759
They're like, thanks for sharing, and they're like, I have

461
00:21:07.799 --> 00:21:10.839
screenshop and you can't. Obviously I have the disclaimer in there.

462
00:21:10.839 --> 00:21:14.440
There's general advice education base, but people can see This

463
00:21:14.519 --> 00:21:17.480
is not rocket science. It's really easy, and you know,

464
00:21:17.559 --> 00:21:20.680
you can see the importance of building a diversified share portfolio.

465
00:21:20.880 --> 00:21:22.599
It's not there for people to copy, of course, but

466
00:21:22.640 --> 00:21:26.079
it's like, okay, I get it. Like you've got twenty

467
00:21:26.119 --> 00:21:29.920
to thirty different stocks in here, across different industries, different countries,

468
00:21:29.920 --> 00:21:31.039
different sectors.

469
00:21:31.720 --> 00:21:35.839
And so those recommendations in the book are still current

470
00:21:36.440 --> 00:21:39.039
or how do people say they are? And I guess

471
00:21:39.039 --> 00:21:42.480
I'm asking you know, so where do people access that

472
00:21:42.680 --> 00:21:45.559
most current information all of the time? Is that information

473
00:21:45.599 --> 00:21:47.720
that's available? Do they need a financial advisor?

474
00:21:48.000 --> 00:21:50.279
Through all of my content, whether it be my YouTube

475
00:21:50.319 --> 00:21:52.880
to account, my Instagram account, and my podcasts for the

476
00:21:52.920 --> 00:21:55.799
Momber's Fireplay, all of my contents, I've obvious seen it

477
00:21:55.839 --> 00:21:58.359
free for everyone to access. I'm almost trying to make

478
00:21:58.400 --> 00:22:02.799
my job obsolete because i want it's not rocket science.

479
00:22:03.000 --> 00:22:05.880
And look, my minimum fee to be for me to

480
00:22:05.880 --> 00:22:08.279
be someone's financial planner starts at five and a half

481
00:22:08.279 --> 00:22:11.119
thousand dollars a year. I don't want people paying me that.

482
00:22:11.160 --> 00:22:13.440
I want people saving that or not saving that. I

483
00:22:13.519 --> 00:22:17.880
think will invest in that. So you don't necessarily need

484
00:22:17.920 --> 00:22:21.400
a funcial planner when you your situation becomes quite complicated,

485
00:22:21.880 --> 00:22:25.079
and you need someone to help manage it, you know,

486
00:22:25.119 --> 00:22:30.000
such as understanding the legislation, the loopholes, legal loopholes, of course,

487
00:22:31.240 --> 00:22:33.960
you know, you need different tax structures involved.

488
00:22:34.920 --> 00:22:36.400
You know you're dealing potentially with.

489
00:22:36.359 --> 00:22:39.079
A higher network years of course, or you need someone

490
00:22:39.079 --> 00:22:41.400
to help as a sounding board financially because quite often

491
00:22:41.440 --> 00:22:43.599
the value a funcial planner can add is actually stopping

492
00:22:43.640 --> 00:22:44.319
you from making.

493
00:22:44.160 --> 00:22:47.519
A bad investment. That's where a funcial planner comes in.

494
00:22:47.559 --> 00:22:50.000
But if you've got say ten thousand dollars to invest,

495
00:22:50.079 --> 00:22:52.200
and of course you can't afford to see a funcial planner,

496
00:22:52.200 --> 00:22:54.640
that doesn't mean you do nothing. You can, you know,

497
00:22:54.680 --> 00:22:57.559
read the thousand dollars project, Breed Mindful Money, read another

498
00:22:57.559 --> 00:23:00.640
book perrecommendic called Motivated Money by Peter Thornhill, and you

499
00:23:00.640 --> 00:23:01.880
can do this yourself.

500
00:23:02.599 --> 00:23:05.279
And I guess too. Just on that subject. Often the

501
00:23:05.640 --> 00:23:07.599
question that comes up with oh should I buy stocks

502
00:23:07.680 --> 00:23:10.960
or shares or property? You know, is it shares or property?

503
00:23:11.079 --> 00:23:13.079
People sort of have a preference for one or the other.

504
00:23:13.480 --> 00:23:15.359
It sounds like you can invest in shares for a

505
00:23:15.400 --> 00:23:17.400
lot lower investment.

506
00:23:18.079 --> 00:23:19.480
Look, I'm not.

507
00:23:19.440 --> 00:23:21.960
There to tell someone what to invest in like, it's

508
00:23:22.000 --> 00:23:24.559
none of my business what people prefer. As long as

509
00:23:24.559 --> 00:23:27.319
they're doing in an educated, informed way, then I'm happy.

510
00:23:28.279 --> 00:23:30.400
The thing about shares that I love is number one,

511
00:23:30.400 --> 00:23:31.359
there's no stamp duty.

512
00:23:32.119 --> 00:23:34.759
Oh yeah, you know. I mean that money is literally

513
00:23:34.839 --> 00:23:35.839
money down the toilet.

514
00:23:36.359 --> 00:23:39.279
Yes, buy a million dollar rest of property, that's almost

515
00:23:39.279 --> 00:23:41.559
fifty thousand dollars in stamp duty, which is insane.

516
00:23:42.359 --> 00:23:44.319
The other thing is how long does it take to

517
00:23:44.319 --> 00:23:46.160
save up a deposit years?

518
00:23:47.039 --> 00:23:49.440
That's valuable time that you could have actually started building

519
00:23:49.480 --> 00:23:51.400
up your share portfolio. As I said, you can buy

520
00:23:51.519 --> 00:23:54.119
shares as little as five hundred dollars. So the thing

521
00:23:54.119 --> 00:23:56.240
about is you can can get started straight away. The

522
00:23:56.240 --> 00:23:58.400
moment you've got money to invest, you can buy shares

523
00:23:59.000 --> 00:24:01.960
that day need to open up an online share trading account.

524
00:24:02.799 --> 00:24:05.759
The other thing is obviously that the ongoing costs, like

525
00:24:06.000 --> 00:24:09.079
would it come with property? So and I will dispose

526
00:24:09.119 --> 00:24:11.519
I own investment properties and I own shares. But if

527
00:24:11.640 --> 00:24:14.000
I won a million dollars and I had to invest

528
00:24:14.000 --> 00:24:16.720
it today, I would not be buying any more property.

529
00:24:16.720 --> 00:24:17.920
I'd only be buying shares.

530
00:24:18.559 --> 00:24:21.759
And you know, look at I look at the property

531
00:24:22.519 --> 00:24:26.559
I own as an investment. And you know, especially when

532
00:24:26.559 --> 00:24:30.519
I include my partner as well, the strata feeds, the

533
00:24:30.559 --> 00:24:35.799
property management fees, the water rates, the marketing, the risk

534
00:24:35.839 --> 00:24:39.440
I have in between tenants. It massively eats into the

535
00:24:39.480 --> 00:24:42.799
rent I get. Yes, the property has gone up in value,

536
00:24:42.920 --> 00:24:45.000
but the rent hasn't gone up in value. And that's

537
00:24:45.000 --> 00:24:47.319
the big catch for that. People don't realize the property.

538
00:24:47.640 --> 00:24:50.599
Australians have a love affair with property. I think it's

539
00:24:50.599 --> 00:24:53.200
because it's a really easy investment to understand. It's a

540
00:24:53.240 --> 00:24:56.359
simple concept. People get it and it's a tangible asset.

541
00:24:56.480 --> 00:24:58.039
You can point to it, you can touch it, you

542
00:24:58.039 --> 00:25:00.519
can see it, you can get into it ground, you

543
00:25:00.640 --> 00:25:02.759
take photos and show your family and friends. You know,

544
00:25:02.759 --> 00:25:06.440
it makes you feel good. I can't touch my zero

545
00:25:06.519 --> 00:25:09.519
point zero or zero zero one percent holding in Westpac

546
00:25:09.599 --> 00:25:12.079
Bank like and it doesn't feel it. But at the

547
00:25:12.160 --> 00:25:14.319
end of the day, Westpac doesn't come knocking on my

548
00:25:14.359 --> 00:25:18.720
door saying you need to contribute towards our strata bills

549
00:25:18.839 --> 00:25:20.440
or electricity bills, or.

550
00:25:20.359 --> 00:25:22.759
That's the toilet's broken.

551
00:25:22.759 --> 00:25:26.960
It's broken exactly, or the annual Christmas party. No, Like,

552
00:25:27.119 --> 00:25:30.960
I get a dividend and that's my return. And you know,

553
00:25:31.000 --> 00:25:34.240
if you look at the average yield of Australian industrial shares,

554
00:25:34.359 --> 00:25:36.400
it's pretty strong. It ranges between sort of three and

555
00:25:36.440 --> 00:25:39.960
a half to six percent, which is trying to find

556
00:25:40.000 --> 00:25:44.240
an investment probably amazing. And it comes if it's industrial.

557
00:25:44.920 --> 00:25:47.400
Quite often they're fully fraked, so you get tax benefits

558
00:25:47.440 --> 00:25:50.079
along the way, which, particularly in someone you know who's

559
00:25:50.079 --> 00:25:53.200
approaching retirement or not on the top marginal tax rate.

560
00:25:53.359 --> 00:25:57.160
It's really valuable. So that's I prefer shares or a property.

561
00:25:57.200 --> 00:25:59.119
And look, I explain all this in mindful money, so

562
00:25:59.200 --> 00:26:01.200
I don't want to I don't want to run the

563
00:26:01.279 --> 00:26:02.920
risk of people's eyes starting to plaze.

564
00:26:03.559 --> 00:26:05.880
No, everybody, just buy the book. It is a great book.

565
00:26:06.640 --> 00:26:10.079
I really enjoyed it. You mentioned before about if a

566
00:26:10.119 --> 00:26:12.400
woman is out of work, for example, looking after kids,

567
00:26:12.680 --> 00:26:14.160
putting money into her super.

568
00:26:14.279 --> 00:26:15.440
Anyway, what about the.

569
00:26:15.400 --> 00:26:17.960
Difference between investing one thousand dollars in shares versus putting

570
00:26:17.960 --> 00:26:19.519
one thousand dollars into your super?

571
00:26:19.920 --> 00:26:20.559
Great question.

572
00:26:20.680 --> 00:26:23.319
Okay, so all right this I shouldn't just say put

573
00:26:23.359 --> 00:26:25.319
money into super. There's a couple of things people need

574
00:26:25.319 --> 00:26:27.480
to do. Number one is make sure your superannuation is

575
00:26:27.519 --> 00:26:31.640
consolidated ideally into one account. Number two is make sure

576
00:26:31.640 --> 00:26:35.440
your superannuation money is properly invested to your long term goals.

577
00:26:35.480 --> 00:26:37.680
So many people have the default balance fund.

578
00:26:39.640 --> 00:26:42.400
I have a big problem with that because your superannuation

579
00:26:42.880 --> 00:26:45.680
is most likely going to be a forty to sixty

580
00:26:45.759 --> 00:26:49.039
year product, so you are you are technically a long

581
00:26:49.119 --> 00:26:52.920
term investor, and the FPA defined as long term investing

582
00:26:53.000 --> 00:26:55.440
is seven years. I defined it as ten years or longer,

583
00:26:55.720 --> 00:26:58.200
so you're literally four to six times the definition of

584
00:26:58.240 --> 00:27:00.759
long term investors. So you want to make sure that

585
00:27:00.799 --> 00:27:06.359
your money is invested to help maximize as many opportunities

586
00:27:06.400 --> 00:27:09.680
as possible for long term capital growth and long term income.

587
00:27:10.240 --> 00:27:14.000
So that means a general advice perspective, obviously do a

588
00:27:14.039 --> 00:27:16.920
risk profile, but it means if you're you know, the

589
00:27:17.039 --> 00:27:18.680
default balance fund is not.

590
00:27:18.599 --> 00:27:20.440
Necessarily the right type of investment for you.

591
00:27:20.279 --> 00:27:23.079
You're not necessarily giving your money the best opportunity to

592
00:27:23.160 --> 00:27:25.759
grow and compound. All you need to do is look

593
00:27:25.759 --> 00:27:30.079
at the difference between you know, cash, Australian shares, International

594
00:27:30.079 --> 00:27:32.599
shares and property over a ten twenty year time frame.

595
00:27:32.680 --> 00:27:35.640
You'll see where they all end up, so you may

596
00:27:35.640 --> 00:27:38.160
be better off going in the growth or high growth

597
00:27:38.319 --> 00:27:41.640
investment option. So number one, make it consultant, make sure

598
00:27:41.680 --> 00:27:44.519
it's consolidated, who're not wasting fees. Number two, make sure

599
00:27:44.559 --> 00:27:48.240
it's properly invested. And number three is look at the contributions,

600
00:27:48.279 --> 00:27:50.880
like especially if you're out of workforce for a couple

601
00:27:50.880 --> 00:27:53.160
of years, raising children or taking care of family members,

602
00:27:53.319 --> 00:27:56.119
or you know, maybe having a sabbatical, or you know

603
00:27:56.240 --> 00:27:58.599
you're studying a new course or taking a different career path,

604
00:27:59.440 --> 00:28:02.039
make sure you try within your budget to replace those

605
00:28:02.079 --> 00:28:05.799
superannuation contributions. Yes, you may not be able to replace

606
00:28:05.839 --> 00:28:07.960
the full nine and a half percent, but try and

607
00:28:08.000 --> 00:28:10.400
do four percent or four and a half percent or

608
00:28:10.440 --> 00:28:13.119
three percent or eight percent, do the best you can,

609
00:28:13.200 --> 00:28:16.680
because you never want to jeopardize your financial well being,

610
00:28:17.640 --> 00:28:21.039
and it's you're basically if you don't, you're pushing a problem.

611
00:28:21.160 --> 00:28:22.880
It's going to be a bigger problem and harder to

612
00:28:22.920 --> 00:28:25.200
catch up further down the track and comes with a

613
00:28:25.240 --> 00:28:31.039
lot more sacrifices and pain as well. So that is

614
00:28:31.079 --> 00:28:34.240
just so incredibly important. It do remember, though, to ask

615
00:28:34.319 --> 00:28:37.079
your question about the two. Once you put money into superannuation,

616
00:28:37.200 --> 00:28:38.960
you cannot get it out, So.

617
00:28:38.960 --> 00:28:39.759
That thousand dollars.

618
00:28:39.759 --> 00:28:41.720
If I put that into my Super tomorrow, I can't

619
00:28:41.720 --> 00:28:44.279
get that money out. But for me, I think that's

620
00:28:44.279 --> 00:28:46.400
actually quite a good thing because it takes away temptation.

621
00:28:47.000 --> 00:28:49.240
The tax rate in Super is a lot lower than

622
00:28:49.240 --> 00:28:51.599
the average marginal tax rate, so tax within Super is

623
00:28:51.680 --> 00:28:54.759
maximum fifteen percent, and if you've read Write for Money,

624
00:28:54.799 --> 00:28:57.599
you'll know how to actually get that down even lower,

625
00:28:57.640 --> 00:28:58.559
potentially to zero.

626
00:29:00.079 --> 00:29:02.440
But you've got to be obviously aware of that.

627
00:29:02.480 --> 00:29:05.279
But for a lot of Australians it's actually a blessing

628
00:29:05.319 --> 00:29:08.240
in disguise because they can't get that money out, so

629
00:29:08.279 --> 00:29:10.319
it's going to be invested for the long run. They're

630
00:29:10.319 --> 00:29:12.799
not going to withdraw it go buy a flat screen

631
00:29:12.839 --> 00:29:16.960
TV or a new pair of shoes. It's there. It's temptations,

632
00:29:17.039 --> 00:29:20.039
you know, been removed, so you can do You can

633
00:29:20.119 --> 00:29:22.440
do both if you want, and a lot you know. Obviously,

634
00:29:22.680 --> 00:29:25.039
if someone in their twenties or you know, there's planning

635
00:29:25.079 --> 00:29:27.480
retiring early, I would never recommend they put all their

636
00:29:27.519 --> 00:29:29.640
money into superannuation because it's going to be you don't

637
00:29:29.640 --> 00:29:31.640
want to wake up at age fifty and go great,

638
00:29:31.680 --> 00:29:33.160
I've got two million dollars on Super.

639
00:29:33.240 --> 00:29:35.319
But I can't touch it and I can't access it.

640
00:29:36.400 --> 00:29:38.599
That's where you need to have, you know, a twofold

641
00:29:38.799 --> 00:29:42.240
strategy where you target both strategies at the same time,

642
00:29:42.240 --> 00:29:45.960
which is perfectly doable. But yeah, that's where you know

643
00:29:46.200 --> 00:29:48.480
the strategies come in. But and the case studies that

644
00:29:48.480 --> 00:29:49.799
I give in Mindful.

645
00:29:49.519 --> 00:29:53.400
Money, Yeah, it is so helpful. Thank you Kenna.

646
00:29:53.559 --> 00:29:56.519
When is the earliest that we can start investing for

647
00:29:56.559 --> 00:29:58.200
our kids or getting our kids investing?

648
00:29:59.000 --> 00:30:01.720
When my son Rock over born, I bought him I

649
00:30:01.759 --> 00:30:04.200
think a thousand or fifteen hundred dollars worth of shares

650
00:30:04.880 --> 00:30:07.200
and I actually have a whole chapter dedicated to kids

651
00:30:07.200 --> 00:30:08.839
and money in Mindful Money.

652
00:30:09.079 --> 00:30:10.640
But yeah, when he was born, I bought him shares.

653
00:30:10.640 --> 00:30:15.000
I bought them as trustee for my son and I

654
00:30:15.000 --> 00:30:18.839
can control the portfolio. My daughter, Issu's eight a months

655
00:30:18.839 --> 00:30:20.799
and a couple of months ago, I bought her first

656
00:30:20.799 --> 00:30:23.119
parcel of shares, but I don't.

657
00:30:23.559 --> 00:30:26.039
We have a mortgage. So our number one funcial goals

658
00:30:26.079 --> 00:30:26.839
to help pay off.

659
00:30:26.720 --> 00:30:29.160
The mortgage, and we do this thing called debt recycling,

660
00:30:29.559 --> 00:30:32.519
so as the mortgage come down, we borrow money, you know,

661
00:30:32.519 --> 00:30:36.480
in a very controlled, responsible way to buy shares, and

662
00:30:36.480 --> 00:30:38.160
I explain how to do this in mind for money,

663
00:30:38.160 --> 00:30:42.799
but I don't believe in putting us as a family

664
00:30:42.880 --> 00:30:45.680
under funcial stress to pump a whole pile of investments

665
00:30:45.680 --> 00:30:48.880
into my children's investment portfolios. It's literally like every now

666
00:30:48.920 --> 00:30:53.240
and again, you know, with birthdays and Christmas times and

667
00:30:54.440 --> 00:30:56.480
things that come along. If I have a thousand dollars

668
00:30:56.880 --> 00:31:00.279
available for them, I'll buy some meet some shares for them.

669
00:31:00.279 --> 00:31:02.640
But they are very small portfolios. At the end of

670
00:31:02.640 --> 00:31:05.799
the day, it's about educating my children rather than just

671
00:31:05.839 --> 00:31:09.400
gifting the misshifshed followers. I want them to know how

672
00:31:09.440 --> 00:31:11.640
to budget. I want them to understand the importance of

673
00:31:11.640 --> 00:31:15.240
investing and the difference between investing and savings. And my son,

674
00:31:15.400 --> 00:31:17.400
he's you know, he's seven twenty eight in a couple

675
00:31:17.440 --> 00:31:20.440
of months, and I'm starting to show him the share portfolio,

676
00:31:20.519 --> 00:31:23.440
and he has two different accounts. He's a spending account

677
00:31:23.480 --> 00:31:26.400
because we really embrace the casual society, so and he

678
00:31:26.400 --> 00:31:29.240
gets pocket pocket money, and you know, he gets a

679
00:31:29.720 --> 00:31:33.160
spending account and an investing to save so saving to

680
00:31:33.240 --> 00:31:37.359
invest account as well. And when his tooth, very very

681
00:31:37.480 --> 00:31:40.680
money came, Tom and I were like crap.

682
00:31:40.759 --> 00:31:43.359
We don't have any money, we don't have any coins.

683
00:31:44.880 --> 00:31:46.559
I was doue and he was like the tooth Fairy

684
00:31:46.640 --> 00:31:50.119
is coming tonight, and I was like, yes they are.

685
00:31:50.279 --> 00:31:52.799
And so Tom and I were like situal, literally turning

686
00:31:52.799 --> 00:31:55.400
the house ups and down trying to find money, and finally,

687
00:31:55.559 --> 00:31:58.319
like nine thirty at night, were exhausted and Tom found

688
00:31:58.359 --> 00:32:02.440
a twenty dollar note and we had to give him

689
00:32:02.519 --> 00:32:06.160
twenty dollars for his stoop. Very valuable, I know, and

690
00:32:06.519 --> 00:32:09.720
co he was like, wow, twenty dollars. Oh my gosh,

691
00:32:09.720 --> 00:32:11.119
what am I gonna get next time? I'm like, we've

692
00:32:11.160 --> 00:32:12.400
set the bar really high now.

693
00:32:12.880 --> 00:32:14.599
So but he actually said he actually gave it back

694
00:32:14.599 --> 00:32:17.920
to me and said can because I'm completely catchless.

695
00:32:18.000 --> 00:32:19.960
He said to you please put this in my investment

696
00:32:20.000 --> 00:32:22.359
account so he can do something with it. You know,

697
00:32:22.400 --> 00:32:24.880
and he is a consumer. He loves Kmart. He actually

698
00:32:24.920 --> 00:32:26.359
I'll pick him up from school and say can we

699
00:32:26.400 --> 00:32:26.960
go to Kmart?

700
00:32:27.920 --> 00:32:29.960
So and I have to.

701
00:32:29.920 --> 00:32:34.559
Explain no because it's a danger zone. He'd buy as

702
00:32:34.599 --> 00:32:36.480
many Pokemon cards as he could at the moment. But

703
00:32:36.839 --> 00:32:39.039
I was so broad on him because he he started

704
00:32:39.039 --> 00:32:41.440
to get the difference and I'm not. I'm not bombarding

705
00:32:41.480 --> 00:32:45.319
my children with investment advice. I'm just slightly gently every

706
00:32:45.359 --> 00:32:48.599
now and again, when he shows the right signals, we

707
00:32:48.680 --> 00:32:51.079
talk about it. And when he's finished and he looks

708
00:32:51.079 --> 00:32:52.920
like his eyes are glazed over, we stopped a conversation

709
00:32:52.960 --> 00:32:53.519
and move on to.

710
00:32:53.480 --> 00:32:54.559
Something else so important.

711
00:32:55.160 --> 00:32:58.440
Yeah, and he's interested and it's funny like I don't

712
00:32:58.440 --> 00:33:00.599
pepper and he actually says to me, you show me

713
00:33:00.720 --> 00:33:02.559
this and that, and can show me.

714
00:33:02.519 --> 00:33:05.240
My account online and how much is in there?

715
00:33:05.319 --> 00:33:08.200
And it's also a great option for do to practice

716
00:33:08.200 --> 00:33:12.119
some maths as well. And yeah, and so that any

717
00:33:12.160 --> 00:33:14.680
setting up, can I put that towards investing?

718
00:33:14.759 --> 00:33:16.880
And yes, those twenty dollars.

719
00:33:16.440 --> 00:33:18.480
Good for him account good for him?

720
00:33:19.160 --> 00:33:21.160
And I was stuck with a twenty dollars note.

721
00:33:20.960 --> 00:33:25.119
Again, Kenna, thank you so much. This has been amazing.

722
00:33:25.279 --> 00:33:27.680
And do you want to tell my listeners where they

723
00:33:27.720 --> 00:33:29.640
can find you or I can I'll obviously put it

724
00:33:29.640 --> 00:33:30.440
in the show notes.

725
00:33:31.039 --> 00:33:31.680
Sure, Okay.

726
00:33:31.720 --> 00:33:34.079
So I have a YouTube channel called Sugar but my TV,

727
00:33:34.240 --> 00:33:38.240
and every Thursday I publish a financial video around budgeting,

728
00:33:39.000 --> 00:33:43.839
you know, cash flow, investing, retirement. I also have touched

729
00:33:43.839 --> 00:33:46.640
on a few lifestyle subjects even like even fashion. I

730
00:33:46.640 --> 00:33:49.279
had a shop mindfully with fashion so that you can

731
00:33:49.400 --> 00:33:51.440
enjoy fashion but not have a break the bank.

732
00:33:52.359 --> 00:33:55.519
I'm also a massive fan of minimalism.

733
00:33:55.960 --> 00:33:58.480
Then I have my Instagram account and I you know,

734
00:33:58.559 --> 00:34:01.799
I'm always publishing quotes to keep you motivated, you know,

735
00:34:01.839 --> 00:34:05.759
important messages, important information. So that's a Sugar Mama TV

736
00:34:06.039 --> 00:34:08.639
and at Canna Campbell Official for people who like to

737
00:34:08.679 --> 00:34:14.039
see more behind the scenes. And then my podcast is

738
00:34:14.079 --> 00:34:18.960
called Sugar Mama's Fireplay. And that's been such an exciting

739
00:34:18.960 --> 00:34:20.880
platform for me to launch because I've been asked to

740
00:34:20.960 --> 00:34:22.480
it for so many years and I was like.

741
00:34:22.599 --> 00:34:24.320
No one's going to want to listen to me talking

742
00:34:24.360 --> 00:34:25.440
for forty five minutes.

743
00:34:25.840 --> 00:34:30.760
But it's doing really well and I actually interview people.

744
00:34:30.840 --> 00:34:33.119
This is why I love so much about podcast is

745
00:34:33.280 --> 00:34:35.440
chatting with people rather than just talking to a camera.

746
00:34:36.719 --> 00:34:38.199
Is I talk to people and people.

747
00:34:38.039 --> 00:34:42.239
Have gone through all sorts of challenges financially and even emotionally,

748
00:34:42.280 --> 00:34:44.199
and how they've turned their life around, What are the

749
00:34:44.239 --> 00:34:45.360
defining moments.

750
00:34:45.039 --> 00:34:48.199
What helped, what didn't help, how they got through it.

751
00:34:48.239 --> 00:34:52.320
And I've interviewed women who have gotten out of financially

752
00:34:52.400 --> 00:34:56.639
and physically abusive marriages, and one will actually use that

753
00:34:56.679 --> 00:34:59.360
thousand of the project to do it. Women who've gone

754
00:34:59.360 --> 00:35:04.679
through almost lost their homes and experienced lost family members

755
00:35:04.679 --> 00:35:07.440
and miscarriages and so forth, and how they've you know,

756
00:35:07.760 --> 00:35:12.320
basically ended up almost starving because they couldn't afford to

757
00:35:12.320 --> 00:35:14.599
buy groceries, and how they've had to you know, go

758
00:35:14.679 --> 00:35:19.360
to approach charities, and how they've built themselves financially up

759
00:35:19.360 --> 00:35:23.039
from there. And you know families who've just kicked societies

760
00:35:23.119 --> 00:35:25.079
financial goals, you know, such as we're having to buy

761
00:35:25.079 --> 00:35:27.400
a house or you know, the to the curb and

762
00:35:27.440 --> 00:35:29.639
deciding okay, well stuff owning a home, we want to

763
00:35:29.679 --> 00:35:31.119
we want a passive income, we want.

764
00:35:30.960 --> 00:35:32.000
An investment portfolio.

765
00:35:32.119 --> 00:35:36.159
And there's so many amazing stories and people have just

766
00:35:36.320 --> 00:35:41.119
opened up their bank accounts and their their hearts and

767
00:35:41.159 --> 00:35:44.599
their minds and shared the most intimate stories so that

768
00:35:44.599 --> 00:35:47.440
people can make their own breakthroughs in their lives financially.

769
00:35:47.480 --> 00:35:49.519
So that's all on Sugar Moment's fireplay.

770
00:35:49.920 --> 00:35:52.159
That's amazing, and I think that's what we need to

771
00:35:52.199 --> 00:35:54.000
hear because they can be so much shame wrapped up

772
00:35:54.039 --> 00:35:57.440
around it. If you've got yourself into debt. So thank

773
00:35:57.480 --> 00:35:59.559
you for everything that you do. I know you've got

774
00:35:59.599 --> 00:36:02.360
a massively busy day and I so appreciate you taking

775
00:36:02.400 --> 00:36:02.800
the time.

776
00:36:03.079 --> 00:36:05.639
Thank you.

777
00:36:06.719 --> 00:36:09.480
I really like Canna's approach to managing money, and since

778
00:36:09.480 --> 00:36:11.800
I talked to her, I've already started my own one

779
00:36:11.840 --> 00:36:15.320
thousand dollar project and been madly researching ETFs, which is

780
00:36:15.400 --> 00:36:18.280
actually a whole lot of fun. You can find out

781
00:36:18.320 --> 00:36:21.280
more about Canna and her work and her financial services

782
00:36:21.320 --> 00:36:25.920
practice at her website Sugar Mamma dot TV. Her YouTube

783
00:36:26.000 --> 00:36:28.800
is also called Sugar Mama TV. She's got lots of

784
00:36:29.119 --> 00:36:32.119
free advice over there. You can follow her on Instagram

785
00:36:32.159 --> 00:36:35.320
at Sugar Mamma tv or at Canna Campbell Official.

786
00:36:35.599 --> 00:36:37.639
And of course, her books are called.

787
00:36:37.559 --> 00:36:40.760
Mindful Money and The one thousand Dollar Project and they

788
00:36:40.760 --> 00:36:43.199
are available at all good bookstores.

789
00:36:43.519 --> 00:36:44.599
As always, I would love for.

790
00:36:44.599 --> 00:36:46.199
You to come and connect with me. I am on

791
00:36:46.360 --> 00:36:50.960
Instagram at cast done underscore xo or Facebook at castone

792
00:36:51.119 --> 00:36:54.960
dot xo. And if you enjoyed this episode, be sure

793
00:36:55.000 --> 00:36:57.519
to leave us a rating and a review on Apple Podcasts.

794
00:36:57.880 --> 00:37:00.320
I also love to read your messages, so me a

795
00:37:00.400 --> 00:37:04.639
dm over on Instagram or email me at helloatcasdone dot

796
00:37:04.679 --> 00:37:07.000
com and I look forward to catching you on the

797
00:37:07.079 --> 00:37:11.159
next episode of Crappy to Happy. Crappy to Happy is

798
00:37:11.159 --> 00:37:14.920
presented by Cast Dunn, produced by Davis Lensky, Audio production

799
00:37:15.039 --> 00:37:16.000
by Darcy Thompson.

800
00:37:20.920 --> 00:37:21.360
Listener