Mindful Money with Canna Campbell

0:02 A listener production. This is Crappy to Happy and I'm your host, Cas Done. I'm a clinical and coaching psychologist, a mindfulness meditation teacher, and author of the Crappy to Happy books. In this show, I bring you conversations with interesting, inspiring, intelligent people who are experts in their field and who have something of value to share that will help you feel less crappy and more happy. Today, I'm talking with Canna Campbell. Canna is a licensed financial advisor and the founder and director of SaaS Financial Services. When Canna found herself very very broke after her divorce and needing to keep a roof over the head of herself and her young son, she embarked on a project which she now calls the one thousand dollar Project, and that first one thousand dollars has now turned into a significant and growing investment portfolio that delivers her a passive income and she is all about passive income. She went on to write a book about that experience called The one thousand Dollar Project, and more recently she has written a second book called Mindful Money, which is a great read for anyone looking to improve their financial situation. And let's face it, who isn't. Canna also shares her financial advice on her YouTube channel called Sugar Mama and her website. Canna is really passionate about educating, inspiring, and empowering every individual to create financial harmony, freedom and

1:33 independence in their lives. She helps people to get out of debt to start saving no matter what circumstances you find yourself in, and I think that you will find that she shares a whole lot of really valuable tips and information. I really hope that you enjoy my conversation with Canna. Canna, thank you so much for being a guest on the Craffy the Happy podcast. Thank you for having me. I know that you are so under the pump at the moment, so I really appreciate you making the time. And you and I have been trying to organize this conversation for I think about a year and a half, and with our busy schedules and then COVID, it just keeps being pushed out. So I'm so glad that you're managing to fit this conversation in. Now.

2:13 Speaking of COVID, you know, I think twenty twenty really demonstrated to all of us just how uncertain and unpredictable, and how suddenly you know things can change regardless of your individual circumstances financially or workwise. We were all confronted with the fact that nothing is really certain or guaranteed. So I guess on the other side of that, what I'm curious to hear from you is like, what other things for those of us who've had a wake up call? What are the things that we should be thinking about and putting in place to protect ourselves from those kinds of scenarios. Well, first of all, I think it's about our attitude and mindset to everything that's gone on. You know, whenever something like this happens, it's such a wake up call and a wake up call or is a blessing because it's an opportunity for us to grow becomes smarter, wiser, more intuitive. So I think it's been a wake up call for us all to realize we're not financially invincible.

3:08 We need to be respectful and mindful of the way that we use money, spend money, build. Money, and protect money. So it's really important that first of all, we respect what's gone on, and it's that we're able now to for lots of us have the opportunity to to, I guess, make a shift or a change for the better financially. And where would we start with making that shift? For somebody thinking, okay, I really need to start spending layers, putting something away for the future. Your most recent book, which is not so recent now, is Mindful Money. And before that you had a book called one thousand dollar Project. Can you tell me about the thousand dollar project? And is that a good place for people to start with starting to build a nest egg or build a buffer?

3:50 Okay, well, there are two questions there. So the first thing is where do I start? And then the thousand dollars projects? So where to start is really is number one? I said, you get the toxic debt out of your life. You need to clear the debts. So if you've got credit card debt, a personal loan maybe outstanding by now pay laters, you need to get on top of those quickly. So you know, that's where you would write a budget out look at how much you can afford to contribute on top of the minimum repayments so that you get that debt out of your life. And I have this thing called a hitless strategy where you start with the smallest debt through to the biggest debt, And it's not actually financially the smartest thing from a Nu miracle perspective, because sometimes obviously interest rate might be higher on the bigger debts, but it's when you're juggling multiple debts, it's kind of like juggling lots of balls in the same air.

4:41 In the air not the same are. So imagine you're juggling and say six different balls. If I take one ball out of the air for you quickly, it's going to make juggling the remaining five much easier for you. So that's why I recommend you, know, you get rid of the smallest. Debt first, and then go to the second smallest debt than the third, and each time, you know, you free up that cash flow. I've now got two sources of additional repayments to now move on towards the next So it's very similar to the snowball technique. So the first thing is get rid of the debts, like do a budget, write down some goals, and track your progress so you can actually go, wow, my debts are coming down. My overall debt is now eight thousand dollars. And it's now seven and a half thousand dollars and the next time I check it it's six eight hundred, And you can. See the progress you're making in that.

5:22 One of my I Guess mantras or messages is progress fuels success. So when you see it's like being on a say you're going on a fitness plan or a weight loss journey. You know when you get on the scale and go, wow, I've lost other half a kilo, or wow, I can run that extra kilometer or I can mentpress that extra five kilos, you go wow, I. Want to keep going because this is working. The sacrifices of getting up early and going for a run or saying no to dessert one night a week are paying off. So track it and then the moment you're debt free, build up emergency savings so that you never get into debt like that again. Keep using your budget, keep you and then obviously, once you've moved on from the emergency savings, work towards building an investment portfolio that builds. Your passive income, which creates true financial freedom.

6:04 So the thousand dollar project after your second question, is how you can use You can use a thousand dollars project all the way through from paying off your debts, stability of promotionency savings to investing. And the thousand dollars project is something I started about just one hundred six years ago and it's now a two hundred. Thousand dollar share portfolio. Wow, does have a I should disclose fifty thousand of that is a margin loan, but it is. You know, it pays me a passive income of seven and a half thousand dollars a year that goes to World Visions one thousand girl project. Wow, that's amazing. That's really inspiring for people to hear that you can. Something that can start so small has so much potential.

6:45 Absolutely, And I should also point out I started that thousand dollars project just after my marriage ended. I'd gone through an expensive divorce. You know, my budget to keep my son in the same home, you know, I had to pay for so I was on a really type budget myself to keep us afloat financially. So I had no money to invest. And I was like when I had launched Sugar Mama literally two weeks before my marriage ended, and I said to myself, in my gosh, how am I going to invest again, I'm on a type budget. I don't really have any savings to throw it towards investing. It's all going towards my legal fees and the mortgage. So I sort of said, well, what have I done in the past, And I'm like, I've hustled. I've just focused on. Small, bite sized goals, one at a time that it will been positively.

7:27 Correlated towards one big goal. And you know, in my first year of doing a thousand dollar project, I had invested thirty two thousand dollars. And that is not a dollar came for my budget, not a dollar came for my salary, and not a dollar came from my savings. It was all money that I hustled, did frugal challenges, worked on the weekends, took on extra projects, sold things, decluttered. That's how I did it. And I look at it now and just go, oh, my goodness, how I managed to do this is incredible. It is incredible. And I really like that point because I think so many people think, well, it's okay if you've got the money to invest, but you really or if you've got the income coming in or whatever, but you really demonstrated that this was all extra money that you found.

8:14 I didn't have any money, like literally, I mean, I remember my ex husband said to me, you're going to die financially, You're going to drown. You've had to take borrow this money to pay me out to get out of this. You know, you can't even take the bins. Out at night. And he was right, Like I was. I really stretched myself to get out of it, and he knew that, and it was you know, I was like, I'm going to prove him wrong. And he's like, you know, you can't even take the bins out at night. So when you know, I'm now at a different house. But I used to like happily banged these heavy bins down my front steps and not going I can't down that at night, like and I did it. Look and look. There were a couple of sacrifices at the time, and there were highs and lows, but the sacrifices were miniscule in the scheme of things. Because I grew so much wi a person, I started a thousand dollars projectors of shell of a human being. I had so much anxiety and fear and self doubt and low self esteem and you know, I was like, when I, you know, made my first thousand dollars, I was like, Wow, that wasn't actually so hard, and it happened quite quickly, and the thousand dollars project for me was very much part of my healing process.

9:19 I'm so glad you brought that up, because one of my questions for you was going to be that for women especially, they can be so devastated by financial breakups, especially if they're the ones staying at home. They retire with something like forty seven percent less super and so I'm really interested. And one of the. Reasons I was so desperate to talk to you was like, how do women do this to protect themselves? Yeah, it's a really serious problem. A lot of women are retiring in poverty and they don't realize it until it's too late. And that's one of my big messages and my big missions is to help women financially. Obviously, my content is is for both genders, but it's particularly women because you know, being a mother or being caring for someone else, it's so easy to put our own priorities so far down the list.

10:12 And you know, we all know our lists get multiplied all the time. We're all getting you know, you just get pushed further and further down, and time goes by, and a year passes, five year passes, ten years pass. Sometimes you know you think, of my goodness, what have I done? I've like, what am I going to do for money? And there are things you can do and the number one is to start educating yourself. So much of this boils down to financial literacy. And if the word facial literacy is such a boring sub name, but I'm even bored here in the word financial literacy, like my eyes glaze over. But it's about knowing how to be smart with your money. It's like knowing, okay, well I don't go get myself into debt. I know to put my foot down and say no. If I'm staying at home looking after the kids or cutting down to part time work, we need to factor into a family budget. You know, some money that goes into my superannuation in the meantime whilst I'm missing out on my employee contributions.

11:00 It's about having fun, try goals. It's about knowing how to stick to a budget and why a budget is so important that the whole. Family is financial wellbeing. It's about making sure that you have some money set aside, you through an investment portfolio, building up what I call your mind for money number, which is what really is my number one foundation message is about building up a passive income stream. And I've coached thousands of women through these sorts of situations to help them get back on their feet financially and make up for lost time. And the important thing is I want to stress is it's never too late to start investing. It's never too early, of course, but it's never too late, and you're never too old. And it's amazing what you can achieve when you put your head, heart in mind to it and you feel really committed and connected to making a breakthrough or having a shift.

11:48 It's as if you're in my head. Half of those things that you just said, well all on my list, you know, for the people who think they're too old? Are they people who think it's too late? And I even had down here you know some of these terms ETFs A, LICs, and you know, your eyes glaze over. But how important is it to have financial literacy? You just answered the question. It's like knowing what to eat, you know, knowing how to we need to at least three to. Four you know, leafy vegetables a day, and to balance it with some vibrans and carbohydrates and a little bit of sugar like and I'm not about you know, some people will assume I'm a financial planner, so that I'm all about being frugal and depriving yourself and you know, drinking instant coffee and taking a packed lunch to work every day. How I will point out, my lunch today is here. This money is going to go towards a thousand dollars project.

12:35 Can confirm me and is holding up her packed lunch. I have yoga, chopped carrots and littook chocolate. But it's I'm not I'm actually all about balance. You know. Yes, I might take my lunch to work three days a week, but then I'll enjoy a cafe takeaway lunch one or two times a week. You know, I love. If you follow me on Instagram, you'll see that I love. My vice is a nice beautiful handbag. What's a year? But I deal it with balance. I do it if I've achieved my fundancial goals and also my lifestyle goals, you know, around fitness and relationships and spirituality, and know intellectual growth. So it's I'm not about depriving. Yourself of being mean or strict or following some sort of formula that I think is on ristic. It's about working with what you've got, doing the best you can, setting goals, debt a stretch, debt a dream, and always review and tweak, adjust with your lifestyle, adjust with your opportunities, but always come from an abundant mindset.

13:32 It's interesting that you brought up the you know, we know what to eat, and I think for me, I often think that food and dieting is much like money and budgeting. We kind of do know what to do, but there can be a whole lot of other emotional and psychological issues that get in the way of us doing the things that we need to do. How important is it for us to address those psychological issues huge. This is where I think I'm quite different from, for example, other financial. Experts, and I'm not disrespecting them in any way. But that's why I sort of said to you, my hitless strategy is actually not financially correct. It's more about the psychology of money. Yes, it is.

14:14 If you google how to get out of credit card debt, they'll all say, start with the debt that's got the biggest and highest interest rate. Mine's different because I'm all about progress. If you can see that it's paying off, it's working, you're more likely to keep going and see it all the way through to the end, till that final dollar is paid off. So yes, it may cost you a little bit in the long run when you look at the expense, but I believe you'll pay it off faster and with a greater sense of joy and balance and pleasure, and feel far more committed to work on to the next goal, such as emergency money or even investing by working at the psychology money. And this is also why I'm actually very much for a redraw facility instead of an offset account for your home loan, even though financially they're equal.

14:58 I believe that, and I've. Seen this from my own personal experience and from you know, the thousands of people have coached, and also from my own financial planning clients satas financial is, I find that you know, say, for example, you have an eight hundred thousand dollars home loan, and you've got to say, fifty thousand dollars in your offset account, so that fifty thousand dollars is offsetting the eight hundred thousand dollars loan, so you're only being charged interest on seven hundred and fifty thousand. My issue is, and this is why I swur the banks create these products, is because they know this will do this. A lot of family has become fixated. They're like, oh, we don't need to really worry. So much about the budget, or we can let a few things slide because we now have fifty thousand dollars in our offset account. You know, and they're fixated on that fifty thousand dollars.

15:38 It's access like smoke and mirrors, and you won't really budget. It's hard. You'll let you know, you'll spend a bit more than what you should be doing, or you know you'll you'll only be committed to your goals because you're like, no, we've got fifty one thousand heats in the in the offset account. It's fine, don't worry. That fifty thousand dollars is masking the fact that you have a seven hundred and fifty thousand dollars mortgage that you need to pay off and to take thirty years to pay for your home loan is madness. Forget the bank's prescription. It's fought with problems. This is why for the redraw facility, transfer that fifty thousand dollars to your home loan. See your home loan for what it really is, seven hundred and fifty thousand dollars home loan. Financially, the system is no difference. But you'll suddenly your goal becomes a lot clearer. You have a much more honest perspective of your reality, and you go, right, actually, we've got to seven hundred and fifty thousand dollars Morgach. Yes, there is fifty thousand we can draw redraw from emergency. Yeah, that's great, and that's sensible and wise. But the end of the day, that's what we need to target, is that seven hundred and fifty thousand dollars mortgage. The fifty thousand redraw facility or whatever is in you're sitting in, your redraw facility acts as a band aid or foundation to the reality of the quality of your skin.

16:50 I guess you could say, and I think also, you know, at a deeper level, there's a lot of messaging that we have grown up with about you know, when we start talking about passive income or financial freedom. There are so many people who have grown up with money doesn't grow on trees, or there's never enough money, or you know, all of that stuff that can get into our subconscious and get in the way. It can get in the way, or it can be something that teaches us and we grow through it. I come across so many people who say to me, oh, I'm no good with money, and I'm like, cut the crab, Like, seriously, that's not true. You've managed to pay for all the clothes in your back, You've paid for this appointment to see me, You've got you know, you've got money.

17:31 In your superannuation account. That's not true. That's just a story you're telling. Yourself to remain in safety and comfort of being a victim. And you know that conversation and that language and that self talk holds you back and gets you nowhere and actually is only going to make your financial journey much harder. And I would never ever recommend someone sweep. Under the mat bad habits have had in the past or maybe their upbringing, because I have watched a lot of us, particularly in my practice of satas financial clients who have actually used their bad their negative history or their upbringing to channel and motivate them to achieve amazing financial success. So this is when you start to go all right, I'm going to step into a place of empowerment.

18:12 I'm going to take a full responsibility and ownership of my past. But you use it then in a powerful way to create change. And you say, in the past, I have got myself into a lot of product card debt. But right now I'm doing all these amazing things to get myself out of it. And it's working, and every day my debt's coming down, and every day I'm learning something more and more about myself, and I'm excited about the progress I'm making. And I'm actually starting. To realize once my debt's paid off, I can start investing. You know, Or you say, yes, I'm really aware that. You know, my parents were really bad with money and really responsible when I grew up in immense poverty and you know, scarcity and missed out on a lot of things. But I'm building a bigger. And better future for myself where I'm not repeating history, I'm not reliving my parents' past.

18:55 I'm building my own. And they use that as a motivation and drive to create the pole opposite of what they grew up with. So it can actually be a very very powerful tool of growth and self development. And you know, you start to realize, oh my gosh, I'm actually really quite powerful. Yeah. It's empowering, isn't it. Yeah? Yeah, And you start to go, well, I can do this in my health and wellbeing, I can do this in my relationships, in my intellectual growth, like all the other components of our lives. I hope that you're enjoying this conversation and realizing the benefits of positivity in your own life. If you are enjoying the show, please be sure to like and subscribe so that you get notified when you apps drop and head on over to Apple Podcasts or wherever you listen and leave us a rating and review. So ken I, once we've addressed the debt, head on, paid down the debt, and let's say I have got one thousand and five thousand, like a small amount of money. A lot of people feel intimidated by stocks and and investment portfolios. Is it possible these days to invest in shares with a small amount of money. I'm sure I read in your book that these days you're like, you don't need a massive amount of money to go buy shares.

20:14 The thousand dollar protects started with one thousand dollars, right, Look, Actually you can invest with the zizlas five hundred dollars. I personally recommend you wait until a thousand brokerages on average twenty dollars and look, the best and fastest way to build up a diversified quality investment portfolio is to use something like a listed investment company or an ETF, an index style to ETF. The people going, well, hang on WHI shall I see or ETF should I be buying? I actually share about five or six of them in Mindful Money that I personally own and I really like as a quality, long term, high growth risk profile perspective. And even on my Instagram account on my ig stories, every now and again, I share a snapshot what the thousand dollar project portfolios may off. So I share all the stocks and eatfs and l sees in the accountant.

21:04 It's funny people messaging me. They're like, thanks for sharing, and they're like, I have screenshop and you can't. Obviously I have the disclaimer in there. There's general advice education base, but people can see This is not rocket science. It's really easy, and you know, you can see the importance of building a diversified share portfolio. It's not there for people to copy, of course, but it's like, okay, I get it. Like you've got twenty to thirty different stocks in here, across different industries, different countries, different sectors. And so those recommendations in the book are still current or how do people say they are? And I guess I'm asking you know, so where do people access that most current information all of the time? Is that information that's available? Do they need a financial advisor?

21:48 Through all of my content, whether it be my YouTube to account, my Instagram account, and my podcasts for the Momber's Fireplay, all of my contents, I've obvious seen it free for everyone to access. I'm almost trying to make my job obsolete because i want it's not rocket science. And look, my minimum fee to be for me to be someone's financial planner starts at five and a half thousand dollars a year. I don't want people paying me that. I want people saving that or not saving that. I think will invest in that. So you don't necessarily need a funcial planner when you your situation becomes quite complicated, and you need someone to help manage it, you know, such as understanding the legislation, the loopholes, legal loopholes, of course, you know, you need different tax structures involved.

22:34 You know you're dealing potentially with. A higher network years of course, or you need someone to help as a sounding board financially because quite often the value a funcial planner can add is actually stopping you from making. A bad investment. That's where a funcial planner comes in. But if you've got say ten thousand dollars to invest, and of course you can't afford to see a funcial planner, that doesn't mean you do nothing. You can, you know, read the thousand dollars project, Breed Mindful Money, read another book perrecommendic called Motivated Money by Peter Thornhill, and you can do this yourself. And I guess too. Just on that subject. Often the question that comes up with oh should I buy stocks or shares or property? You know, is it shares or property? People sort of have a preference for one or the other. It sounds like you can invest in shares for a lot lower investment.

23:18 Look, I'm not. There to tell someone what to invest in like, it's none of my business what people prefer. As long as they're doing in an educated, informed way, then I'm happy. The thing about shares that I love is number one, there's no stamp duty. Oh yeah, you know. I mean that money is literally money down the toilet. Yes, buy a million dollar rest of property, that's almost fifty thousand dollars in stamp duty, which is insane. The other thing is how long does it take to save up a deposit years? That's valuable time that you could have actually started building up your share portfolio. As I said, you can buy shares as little as five hundred dollars. So the thing about is you can can get started straight away. The moment you've got money to invest, you can buy shares that day need to open up an online share trading account.

24:02 The other thing is obviously that the ongoing costs, like would it come with property? So and I will dispose I own investment properties and I own shares. But if I won a million dollars and I had to invest it today, I would not be buying any more property. I'd only be buying shares. And you know, look at I look at the property I own as an investment. And you know, especially when I include my partner as well, the strata feeds, the property management fees, the water rates, the marketing, the risk I have in between tenants. It massively eats into the rent I get. Yes, the property has gone up in value, but the rent hasn't gone up in value. And that's the big catch for that. People don't realize the property.

24:47 Australians have a love affair with property. I think it's because it's a really easy investment to understand. It's a simple concept. People get it and it's a tangible asset. You can point to it, you can touch it, you can see it, you can get into it ground, you take photos and show your family and friends. You know, it makes you feel good. I can't touch my zero point zero or zero zero one percent holding in Westpac Bank like and it doesn't feel it. But at the end of the day, Westpac doesn't come knocking on my door saying you need to contribute towards our strata bills or electricity bills, or. That's the toilet's broken. It's broken exactly, or the annual Christmas party. No, Like, I get a dividend and that's my return. And you know, if you look at the average yield of Australian industrial shares, it's pretty strong. It ranges between sort of three and a half to six percent, which is trying to find an investment probably amazing. And it comes if it's industrial.

25:44 Quite often they're fully fraked, so you get tax benefits along the way, which, particularly in someone you know who's approaching retirement or not on the top marginal tax rate. It's really valuable. So that's I prefer shares or a property. And look, I explain all this in mindful money, so I don't want to I don't want to run the risk of people's eyes starting to plaze. No, everybody, just buy the book. It is a great book. I really enjoyed it. You mentioned before about if a woman is out of work, for example, looking after kids, putting money into her super. Anyway, what about the. Difference between investing one thousand dollars in shares versus putting one thousand dollars into your super? Great question. Okay, so all right this I shouldn't just say put money into super. There's a couple of things people need to do. Number one is make sure your superannuation is consolidated ideally into one account. Number two is make sure your superannuation money is properly invested to your long term goals.

26:35 So many people have the default balance fund. I have a big problem with that because your superannuation is most likely going to be a forty to sixty year product, so you are you are technically a long term investor, and the FPA defined as long term investing is seven years. I defined it as ten years or longer, so you're literally four to six times the definition of long term investors. So you want to make sure that your money is invested to help maximize as many opportunities as possible for long term capital growth and long term income. So that means a general advice perspective, obviously do a risk profile, but it means if you're you know, the default balance fund is not.

27:18 Necessarily the right type of investment for you. You're not necessarily giving your money the best opportunity to grow and compound. All you need to do is look at the difference between you know, cash, Australian shares, International shares and property over a ten twenty year time frame. You'll see where they all end up, so you may be better off going in the growth or high growth investment option. So number one, make it consultant, make sure it's consolidated, who're not wasting fees. Number two, make sure it's properly invested. And number three is look at the contributions, like especially if you're out of workforce for a couple of years, raising children or taking care of family members, or you know, maybe having a sabbatical, or you know you're studying a new course or taking a different career path, make sure you try within your budget to replace those superannuation contributions. Yes, you may not be able to replace the full nine and a half percent, but try and do four percent or four and a half percent or three percent or eight percent, do the best you can, because you never want to jeopardize your financial well being, and it's you're basically if you don't, you're pushing a problem.

28:21 It's going to be a bigger problem and harder to catch up further down the track and comes with a lot more sacrifices and pain as well. So that is just so incredibly important. It do remember, though, to ask your question about the two. Once you put money into superannuation, you cannot get it out, So. That thousand dollars. If I put that into my Super tomorrow, I can't get that money out. But for me, I think that's actually quite a good thing because it takes away temptation. The tax rate in Super is a lot lower than the average marginal tax rate, so tax within Super is maximum fifteen percent, and if you've read Write for Money, you'll know how to actually get that down even lower, potentially to zero. But you've got to be obviously aware of that.

29:02 But for a lot of Australians it's actually a blessing in disguise because they can't get that money out, so it's going to be invested for the long run. They're not going to withdraw it go buy a flat screen TV or a new pair of shoes. It's there. It's temptations, you know, been removed, so you can do You can do both if you want, and a lot you know. Obviously, if someone in their twenties or you know, there's planning retiring early, I would never recommend they put all their money into superannuation because it's going to be you don't want to wake up at age fifty and go great, I've got two million dollars on Super. But I can't touch it and I can't access it. That's where you need to have, you know, a twofold strategy where you target both strategies at the same time, which is perfectly doable. But yeah, that's where you know the strategies come in. But and the case studies that I give in Mindful.

29:49 Money, Yeah, it is so helpful. Thank you Kenna. When is the earliest that we can start investing for our kids or getting our kids investing? When my son Rock over born, I bought him I think a thousand or fifteen hundred dollars worth of shares and I actually have a whole chapter dedicated to kids and money in Mindful Money. But yeah, when he was born, I bought him shares. I bought them as trustee for my son and I can control the portfolio. My daughter, Issu's eight a months and a couple of months ago, I bought her first parcel of shares, but I don't. We have a mortgage. So our number one funcial goals to help pay off. The mortgage, and we do this thing called debt recycling, so as the mortgage come down, we borrow money, you know, in a very controlled, responsible way to buy shares, and I explain how to do this in mind for money, but I don't believe in putting us as a family under funcial stress to pump a whole pile of investments into my children's investment portfolios. It's literally like every now and again, you know, with birthdays and Christmas times and things that come along. If I have a thousand dollars available for them, I'll buy some meet some shares for them.

31:00 But they are very small portfolios. At the end of the day, it's about educating my children rather than just gifting the misshifshed followers. I want them to know how to budget. I want them to understand the importance of investing and the difference between investing and savings. And my son, he's you know, he's seven twenty eight in a couple of months, and I'm starting to show him the share portfolio, and he has two different accounts. He's a spending account because we really embrace the casual society, so and he gets pocket pocket money, and you know, he gets a spending account and an investing to save so saving to invest account as well. And when his tooth, very very money came, Tom and I were like crap.

31:40 We don't have any money, we don't have any coins. I was doue and he was like the tooth Fairy is coming tonight, and I was like, yes they are. And so Tom and I were like situal, literally turning the house ups and down trying to find money, and finally, like nine thirty at night, were exhausted and Tom found a twenty dollar note and we had to give him twenty dollars for his stoop. Very valuable, I know, and co he was like, wow, twenty dollars. Oh my gosh, what am I gonna get next time? I'm like, we've set the bar really high now. So but he actually said he actually gave it back to me and said can because I'm completely catchless. He said to you please put this in my investment account so he can do something with it. You know, and he is a consumer. He loves Kmart. He actually I'll pick him up from school and say can we go to Kmart?

32:27 So and I have to. Explain no because it's a danger zone. He'd buy as many Pokemon cards as he could at the moment. But I was so broad on him because he he started to get the difference and I'm not. I'm not bombarding my children with investment advice. I'm just slightly gently every now and again, when he shows the right signals, we talk about it. And when he's finished and he looks like his eyes are glazed over, we stopped a conversation and move on to. Something else so important. Yeah, and he's interested and it's funny like I don't pepper and he actually says to me, you show me this and that, and can show me. My account online and how much is in there? And it's also a great option for do to practice some maths as well. And yeah, and so that any setting up, can I put that towards investing?

33:14 And yes, those twenty dollars. Good for him account good for him? And I was stuck with a twenty dollars note. Again, Kenna, thank you so much. This has been amazing. And do you want to tell my listeners where they can find you or I can I'll obviously put it in the show notes. Sure, Okay. So I have a YouTube channel called Sugar but my TV, and every Thursday I publish a financial video around budgeting, you know, cash flow, investing, retirement. I also have touched on a few lifestyle subjects even like even fashion. I had a shop mindfully with fashion so that you can enjoy fashion but not have a break the bank. I'm also a massive fan of minimalism.

33:55 Then I have my Instagram account and I you know, I'm always publishing quotes to keep you motivated, you know, important messages, important information. So that's a Sugar Mama TV and at Canna Campbell Official for people who like to see more behind the scenes. And then my podcast is called Sugar Mama's Fireplay. And that's been such an exciting platform for me to launch because I've been asked to it for so many years and I was like. No one's going to want to listen to me talking for forty five minutes. But it's doing really well and I actually interview people. This is why I love so much about podcast is chatting with people rather than just talking to a camera.

34:36 Is I talk to people and people. Have gone through all sorts of challenges financially and even emotionally, and how they've turned their life around, What are the defining moments. What helped, what didn't help, how they got through it. And I've interviewed women who have gotten out of financially and physically abusive marriages, and one will actually use that thousand of the project to do it. Women who've gone through almost lost their homes and experienced lost family members and miscarriages and so forth, and how they've you know, basically ended up almost starving because they couldn't afford to buy groceries, and how they've had to you know, go to approach charities, and how they've built themselves financially up from there. And you know families who've just kicked societies financial goals, you know, such as we're having to buy a house or you know, the to the curb and deciding okay, well stuff owning a home, we want to we want a passive income, we want.

35:30 An investment portfolio. And there's so many amazing stories and people have just opened up their bank accounts and their their hearts and their minds and shared the most intimate stories so that people can make their own breakthroughs in their lives financially. So that's all on Sugar Moment's fireplay. That's amazing, and I think that's what we need to hear because they can be so much shame wrapped up around it. If you've got yourself into debt. So thank you for everything that you do. I know you've got a massively busy day and I so appreciate you taking the time. Thank you. I really like Canna's approach to managing money, and since I talked to her, I've already started my own one thousand dollar project and been madly researching ETFs, which is actually a whole lot of fun. You can find out more about Canna and her work and her financial services practice at her website Sugar Mamma dot TV. Her YouTube is also called Sugar Mama TV. She's got lots of free advice over there. You can follow her on Instagram at Sugar Mamma tv or at Canna Campbell Official.

36:35 And of course, her books are called. Mindful Money and The one thousand Dollar Project and they are available at all good bookstores. As always, I would love for. You to come and connect with me. I am on Instagram at cast done underscore xo or Facebook at castone dot xo. And if you enjoyed this episode, be sure to leave us a rating and a review on Apple Podcasts. I also love to read your messages, so me a dm over on Instagram or email me at helloatcasdone dot com and I look forward to catching you on the next episode of Crappy to Happy. Crappy to Happy is presented by Cast Dunn, produced by Davis Lensky, Audio production by Darcy Thompson.

37:20 Listener