Money Mechanics Melbourne

Money Mechanics
Happy Federal Budget Day!!

As expected no big changes in the Budget this year (keeping inflation pressure at bay). But as already announced the Stage 3.2 tax cuts are in as with some energy bill relief and indexation to superannuation contribution rates.

Aged Care has some focus but the biggest issue in the sector will continue to be staff need for clients accessing services.

Check out our update here:

Federal Budget Update 2024 - Financial Planner, SMSF Advisor Advice Canberra & Melbourne - Money Mechanics Last night Treasurer Jim Charmers announced his third Federal Budget. The Federal Budget is a plan for how things will be spent and focus on what the Federal Government see’s as priorities as well as being a great transparency in our democratic system. Labor’s third Budget has focused on cost of...

Check out our update from Last Nights Federal Budget! While there were few surprises in this budget announcement there are some cost of living changes which may support folks doing it tough in the system at the moment. Any questions as always please reach out!

Federal Budget Update 2023 - Financial Planner, SMSF Advisor Advice Canberra & Melbourne - Money Mechanics Federal Budget Update 2023 by Scott | May 10, 2023 | News Last night Treasurer Jim Charmers announced his second Federal Budget. The Federal Budget is a plan for how things will be spent and focus on what the Federal Government see’s as priorities as well as being a great transparency in our democ...

Well 2022 has been a ride that is for sure!

We have just released the last podcast episode for 2022 and have the plans in place for an exciting series in 2023.

It was great to bookend the Year with the amazing Ara Jansen (we started with a goals chat in early 2022) and now I turn over the Mic to be interviewed by Ara as we unpack cash flow and budgeting.

With a New Year about to start (and with increasing costs) it is a great time to reset and set intention about what you plan to spend in 2023.

It is all about open honest conversations (with self, partner, family and friends) and spending unashamedly on the things that are important to you. If you want a copy of our cashflow planner please reach out!

Thanks for listening it has been so much fun learning the tricks of the podcasting trade over the last few years!

Hope you enjoy the episode!

Unpacking Cash flow and Budgeting with Ara Jensen - Money Mechanics with Scott Malcolm From Snoop Dogg to Sting and prize scones to long distance swimmers and now Scott Malcolm! Ara Jansen has met, interviewed or written about the famous and the rest during her extensive career as a freelance writer and rock journalist. Words, deep blues, swimming pools, books, music and good conversa...

How aware are you of how you spend your time and focus your attention?

I recently read "Stolen Focus" by Johann Hari and was actually shocked to realise how commoditized our time and attention is with Social Media, Streaming Services and News consumption (even podcasts) etc.

When news is 'bad' we often pay more attention to it, which can impact our overall well being.

In the money space, we often see the gloomy headlines if shares markets lose value in a day but there isn't the same focus if markets go up the same amount.

It was great to connect with Kate Mannell to discuss research she completed with James Meese on "Doomscrolling" on the back of the COVID pandemic and lock downs in Melbourne.

Some great insights on how to manage your New's consumption and social media if it is not supporting your overall well-being or as I always like to say connected to your ideal life outcomes.

We hope you enjoy this episode.

Unpacking Doomscrolling with Kate Mannell - Money Mechanics with Scott Malcolm Dr Kate Mannell is a Research Fellow at Deakin University in the ARC Centre of Excellence for the Digital Child and andthe Centre for Research in Educational Impact (REDI). Her research focuses on the design, governance and use of digital platforms with a focus on the role of digital technologies in...

Last night the Albanese Government announced it's first adjustments to the Federal Budget. The Federal Budget is a plan for how things will be spent and focus on what the Federal Government see's as priorities as well as being a great transparency in our democratic system.
Labor’s first Budget was filled with measures aimed at easing the cost of living over the coming years, addressing the challenges of a slowing economy, and introducing investments designed to place Australia in a stronger position for the future. For superannuation and tax, the announcements were mainly re-commitments from earlier Budgets (so no big changes here). This includes the change to the eligibility age for downsizer contributions. The stage 3 tax cuts for 2024 are also unchanged. Instead of focusing on super and tax, most of the proposals centered around investing into key sectors and infrastructure, and providing affordable housing for more Australians through a new national Housing Accord.
Check out the full details here: https://moneymechanics.com.au/federal-budget-2022-v2/

With the Federal Budget Last night check out our budget update at the following link. Some key changes to cost of living (fuel prices) and also some small business training offsets and payments for folks on concessional cards.
Not much on the superannuation front, although pensioners will have another 12 months of reduced pension drawdown rates if desired.

Any questions please reach out!

https://moneymechanics.com.au/federal-budget-2022/

Federal Budget 2022 - Financial Planner, SMSF Advisor Advice Canberra & Melbourne - Money Mechanics Federal Budget 2022 by Scott | Mar 30, 2022 | News With the Federal Budget being released last night we have prepared this update to provide you with the highlights. The Treasurer Josh Frydenberg has delivered his fourth Federal Budget overnight. Being a Pre Election Budget it should be noted that s...

What an awesome way to end 2021 and our first season of the podcast.

Connecting with George D. Kinder to chat about life and freedom on the Looking Under the Hood - Unpacking Money with Scott Malcolm podcast. More than 15 years ago I did some life changing training with George and the Kinder Institute of Life Planning.

We hope you enjoy this episode as George shares some insights and reflections on being free in life and around the money stuff but also setting intention around living your ideal life.

Thanks to everyone who has listened and joined us on the ride over the last 12 months with the podcast and with our business.

See you all in 2022!



https://omny.fm/shows/moneymechanics/unpacking-freedom-with-george-kinder

Unpacking Freedom with George Kinder - Money Mechanics with Scott Malcolm - Omny.fm Internationally recognized as the father of the Life Planning movement, the Harvard-educated George Kinder revolutionized financial advice for over 30 years by training over 3,000 professionals in 30 countries in the field of financial Life Planning. He founded the Kinder Institute of Life Plannin...

It was awesome to connect with Sean Wroe on the Looking Under the Hood Podcast.

Chatting about his recent time at the Tokyo Olympics and providing some great insights to the current mortgage market and rent-vesting!

Sean specialises in securing finance for millennial’s and helping them along their way to home ownership. He has extensive experience working with clients from all over Australia and he is dedicated to helping his clients throughout the whole process.

We hope you enjoy the episode.

https://omny.fm/shows/moneymechanics/unpacking-the-mortgage-market-with-sean-wroe

Unpacking the Mortgage Market with Sean Wroe - Money Mechanics with Scott Malcolm - Omny.fm Sean was a professional track and field athlete prior to starting his career in the finance industry. Sean Won a gold medal for Australia at the 2006 Commonwealth games. He won a silver and gold medal at the 2010 Commonwealth Games and has also represented Australia at the 2008 Olympics. His success...

Great to connect with Will Rainey from Blue True Savings to chat about kids and money and how to start good conversations with the young humans in your life.

His book: Grandpa's Fortune Fables: Fun stories to teach kids about money, is available now and he also has some great free resources via his blog and website.

Hope you enjoy the episode and Happy Friday!



https://omny.fm/shows/moneymechanics/unpacking-talking-to-kids-about-money-with-will-ra

Unpacking Talking to Kids About Money with Will Rainey - Money Mechanics with Scott Malcolm - Omny.fm After years providing investment advice to governments, insurance companies and some of the world's largest pension schemes, Will founded Blue Tree Savings. Blue Tree Savings is on a mission to help as many parents as possible teach their kids to be great with money. Using stories and visualizations...

Money is one of those Universal systems that we human beings are born into. There are differences between each system (depending on which country you are born) but it is one commonality we share. As we move through life from childhood into adulthood we build up habits, values, attitudes and behaviors. There are complexities as we juggle the 'here and now' with our 'future selves'.

It was great to chat with Brendan Frazier to unpack the human side of money. Brendan shares some great insights from the folks he has interviewed over the last few years on his Podcast The Human Side of Money.

It was also fun to use Brendan's 'rapid fire' questions against him, for good of course!

We hope you enjoy this episode!

https://omny.fm/shows/moneymechanics/unpacking-the-human-side-of-money-with-brendan-fra

Unpacking the Human Side of Money with Brendan Frazier - Money Mechanics with Scott Malcolm - Omny.fm Brendan Frazier is founder of Wired Planning and host of The Human Side of Money Podcast which is all about working with emotional human beings on the emotionally charged topic of money.  Brendan has been interviewing experts around the world, talking to like-minded advisors and industry consultant...

So hopefully the lock-downs around the country and spending more time with your partner and family is not taking you towards a path of separation.

Personally, I am holding out to not be physically separated from my partner based on border closures and lock-downs. However if you are not living the vibe together anymore then this episode is for you.

It was great to connect with the amazing Siobhan Mullins, the founder of Separate Together, Australia’s leading online, multi-award-winning family law firm.
Siobhan is a collaboratively trained and the best-selling author of Splitting Up Together: The How-to Handbook for an AMICABLE Divorce.

We almost had too much fun talking about divorce in this episode but there are some great insights and tips if you are managing this life transition. We hope you enjoy it!

https://lnkd.in/ger8vu7C

Unpacking DIY Divorce with Siobhan Mullins - Money Mechanics with Scott Malcolm - Omny.fm

Unpacking DIY Divorce with Siobhan Mullins - Money Mechanics with Scott Malcolm - Omny.fm Siobhan Mullins is the founder of Separate Together, Australia’s leading online, multi-award-winning family law firm. Siobhan is a collaboratively trained, multi-award-winning family lawyer and the best-selling author of Splitting Up Together: The How-to Handbook for an AMICABLE Divorce. Separate ...

Spring is happening all around us right now which is a good time to do a refresh of your cash flow and set your intentions around how you are going to manage the flow of the cash in your life!

1 - be clear on what it costs to be you on the day to day

2 - Review, reduce, stop or adjust any expenses which are no longer aligned or that you are not getting value from (that subscription you never use, the insurances you have not reviewed in the last few years)

3 - setup a structure of accounts and automate as much as you can! Keep it simple so you don’t have to think about it everyday. Give yourself ‘pocket money’ that you can just spend no questions asked and guilt free!

4 - get an accountability buddy to help keep you on track.

5 - spend on stuff that is important and aligned to your values and cut back on the stuff that isn’t important to you.

6 - if you need to boost income think about ways you can get more $$ in the system. (Set yourself up for that promotion or look to eBay, Airtasker or the other collaborative consumption options).

Most importantly be honest with yourself -and have fun with it.. it’s about your life after all.

If you are doing cashflow with a partner have a money date night to chat about your money past and how you have done cash flow well in the past but also consider how you can improve or tweak this for the future. You don’t need to throw it all in together. I often prefer clients to have their own spendings accounts they manage and then joint accounts for the shared stuff. But work out what works best for you 🙂

If you want a copy of our cashflow planner send us a DM!

Information is one key when it comes to being empowered around your money decisions.

The launch of this superannuation tool via the ATO is a game changer.

Context is always another important key to this.

Not all ‘Balanced’ funds are the same when it comes to asset allocation between defensive (debt backed) and growth (equity backed) investments. This means the capital risk (chance of your value going backwards) is not the same between a more growth focused fund and a more true to label ‘balanced’ fund (50% defensive to 50% growth).

It is important that this is aligned to your comfort level, ethical and other investment values and outcomes for the future.

Worth checking out and easy to use from my humbles:

https://www.ato.gov.au/Calculators-and-tools/YourSuper-comparison-tool/

YourSuper comparison tool You can use the YourSuper comparison tool to compare super fund products.

Happy Friday and happy Unpacking Money Day!! In this episode we are joined by Louise Biti from Aged Care Steps Pty Ltd as we unpack the ins and outs of the Aged Care system. Louise has written the book on this stuff (and trains Financial Planners and other professionals) Don't Panic - Age the way you want, where you want!

This is often a topic which is misunderstood but isn't discussed early enough with family or friends and with the right framework and insights it can make the process a much smoother one and ensure that your or your families wishes are honored!

I hope you enjoy these chats and Louise made Aged Care fun and empowering for all!



https://omny.fm/shows/moneymechanics/unpacking-aged-care-with-louise-biti

Unpacking Aged Care with Louise Biti - Money Mechanics with Scott Malcolm - Omny.fm Louise is a co-founder and Director of Aged Care Steps, the leading business supporting professionals to implement advice solutions into their advice businesses in the areas of aged care and other related matters. Louise is a thought-leader and one of the pre-eminent experts in aged care, with over....

Investment is an experiential thing.

What I mean is that you can read all the books / blogs and insta posts in the world but until you take ‘action’ you don’t get to build the skill set and experience what investment is all about.

You need a framework. What you want to achieve? What your risk capacity and tolerance is?
What your values are and if you want to avoid or focus on certain types of investment?
Then the most important part of being able to stay the course when markets go down.

Check out the Share Market game that the ASX is running (also a schools version for those teachers we know) which gives you $50,000 to invest in the market and track over a three month period.

https://www2.asx.com.au/investors/investment-tools-and-resources/play-the-sharemarket-game

Build up your skill set and comfort with how the share market works then start investing your own money.

You can buy shares with a minimum of $500. Sure you have to manage the brokerage costs but often folks think they need $1,000’s to get started!

It’s all about starting and even more importantly making regular investment amounts.

Check out the latest episode of Looking Under the Hood - Unpacking Money.

I am joined by Keith Barrett from Reverb Media and Scott Miller from Asendium to unpack the advice experience but also talk about Statements of Advice and some of the other documentation and process involved when you engage with a Financial Adviser. We touch on how innovation and technology can be (and will be) a game changer in the provision of advice in the future.

It was my first double guest chat which was exciting but also daunting as a host but we had a fun discussion and hope you enjoy it.

https://omny.fm/shows/moneymechanics/unpacking-advice-experience-and-statements-of-advi

Unpacking The Advice Experience and Statements of Advice With Keith Barrett and Scott Miller - Money Mechanics with Scott Malcolm - Omny.fm Keith Barrett, the owner and head of strategy at Reverb Media, has been a journalist for 25 years and an editor for more than 20. In that time, he has run newspapers and magazines in Europe and Australia and has a specific area of expertise in financial services. Connect with Keith here: https://www...

Great to connect with Narelle Glynn from Hunter Advocates to chat about the current heat in the property market as well as strategies for first home buyers and investors to navigate the market and building your framework!

It was a 'White Hot' episode!

https://omny.fm/shows/moneymechanics/unpacking-the-heat-in-the-property-market-with-nar

Unpacking the Heat in the Property Market with Narelle Glynn - Money Mechanics with Scott Malcolm - Omny.fm Narelle is a fully licensed and insured Real Estate Agent with a background in Financial and Professional Services. She combines her real estate expertise with credentials from two decades in finance, credit risk and strategy role to deliver unparalleled insights to help her clients make the best pr...

Here is our Federal Budget Update 2021 - with the Federal Government announcements around changes to tax, super and first home owner and Social Security and Aged Care. Check it out!

https://mailchi.mp/0fcaddbe4e98/federal-budget-update-4773770?fbclid=IwAR0i1qYvFUHDLvZLz-JroHeFUV7GMEf8w9tjTnwERav5V392JXmfybJeAx0

Superannuation is so much fun! Check out our lastest episode as we unpack Superannuation with Steph Clarke joining me to do a little host take over and interview me on one of my favourite money topics!

https://lnkd.in/gDufsFH

Unpacking Superannuation with Steph Clarke - Money Mechanics with Scott Malcolm - Omny.fm Steph Clarke is a question asker, monochrome-lover and life-long-learner. After starting professional life as an accountant with EY in the UK, Steph quickly realised that spreadsheets did not satisfy her need for creativity. Cue a secondment to learning and development (a secondment she never left)....

Have you heard of the funky maths ‘the rule of 72’?

It is a great tool to quickly calculate how long it will take your money to double based on a rate of return.

It gives context to the past performance information you might see on investment or superannuation statements.

“Roughly translated:

In wanting to know of any capital, at a given yearly percentage, in how many years it will double adding the interest to the capital, keep as a rule [the number] 72 in mind, which you will always divide by the interest, and what results, in that many years it will be doubled.

Example: When the interest is 6 percent per year, I say that one divides 72 by 6; 12 results, and in 12 years the capital will be doubled.”

Well the saying might be that time flies when you are having fun.. but wow the last 12 years feels like it has gone in the blink of an eye.

12 years ago yesterday was born. The ride has continued to be amazing with a mix of highs and lows and everything in between. But I can say that I still wake up inspired everyday. Inspired about the amazing work we do with clients. Inspired by the outcomes in life that our clients achieve and inspired by an industry which is continuing to evolve.

Thank you.

To our clients.
To our amazing support team.
To our business partners.
To my mentors.
To my amazing family and partner.

We couldn’t do it without you all!

Great to be online with Laneway Learning Melbourne tonight unpacking investment and markets. Still some tickets available!

https://events.humanitix.com/investment-for-everyone-with-scott-online

Investment for Everyone with Scott (Online), Hosted online, 13th of April | Humanitix Come along to get the low-down on investment markets, and learn how you can get started without having a truckload of money. What will we cover? We will unpack: - How the investment markets work - Tips and traps around the share and property markets - What drives return - How easy it is to set up an...

Great to be back on the podcasting train for 2021 after a short break to connect with Danielle Brophy to unpack financial resilience and how we can improve and strengthen our response when things go wrong or not to plan.

Hope you enjoy the episode and thanks for the continued feedback and questions!

https://lnkd.in/gnSPNF4

Unpacking Financial Resilience with Danielle Brophy - Money Mechanics with Scott Malcolm - Omny.fm Danielle Brophy loves business - so much so that she has three of them! All in financial services: - Money Wellbeing: promoting positive money mindset & management - WLS Wealth: financial planning focused on wealth and lifestyle strategies - Star Super Services: Self Managed Super Fund (SMSF) accoun...