Spend your money on what matters - Tory Archbold interviews Julia Newbould

In this episode of the Powerful Stories Podcast, Tory shares how Julia Newbould gifted her book ‘The Joy of Money’ during lockdown last year. As the editor of ‘Money Magazine’, Julia is fully equipped to share with us her wealth of knowledge on money and how to spend it on what matters. So, let’s talk about women and money. In our 30s we are chasing career and family. Often the defining moment comes when we hit our 40s and realise that we only have 10-20 years left in our careers. ‘When women talk about money, they are only looking at is as something that is a part of their life - we should always be conscious that money gives us the choices to do what we want to do in life’ says Julia. Being smarter with your money requires knowledge. Julia suggests we think of money in three goals and separate them into different accounts. ‘Short term is your end of year holiday; the mid-term goal may be education for our children and the long-term goal is our retirement. ‘Money can be a boring topic and it can become a task, but thinking of it as these shared values gives us a way to be able to get there.’ Julie gives us her three most powerful tips for creating an abundant future - ‘To ensure you get the next step in your career you need to up-skill says Julia. ‘If you can’t get more money in, then you need to spend less which leads to conscious spending.’  And thirdly, we need to be aware of where our future finances are at and that includes considering your super in your 20s. It gives to choices.  In her book, Julia says we need to be S-A-S-S-Y. ‘Sassy by name, sassy by nature and sassy in the way that we create the structure for you to be smart with your money’. It stands for: Spending, Asset, Structure, Set-rules and Yearly review. The relationships we have and the people we hang out with determine spending behaviours. Saying no is a habit we need to practice. ‘We need to learn who is worth it’ says Julia, ‘it’s important to choose your friends carefully, those who are aligned with you.’ Money is power and there is power in saying no to the right now, for the sake of your future finances.  Managing cash flow is a trick. ‘I went from fortnightly pay to monthly pay which was a huge change, but the first thing I still do is put away what I can afford to save. Then, I have a holding account where I pay my bills from. And finally, I have the spending account says, Julia. The key is ‘to manage what you can let go of and have that rainy-day fund’ says Julia. Julia’s readers want to know – invest in housing or shares? ‘Invest in something you know a bit about and consider your competitive advantage – you may work in an industry and, as a result, have insider knowledge of what would help you make a good investment.’ Go with your strengths. So, sit back and enjoy this powerful story with the extraordinary Julia Newbould. Links: Sign up to the Powerful Steps #coffeechallenge to gain Tory’s proven formula for building a global network, with three coffee dates a week. It’s how she connected with the guests on this podcast. Each one is an authentic and trusted connection  Powerful Steps Follow @powerfulsteps on Instagram Powerful Steps on LinkedIn Connect with Julia on LinkedIn Get your copy of ‘The Joy of Money’ by Kate McCallum & Julia Newbould   See omnystudio.com/listener for privacy information.

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Powerful Stories with Tory Archbold. One of Australia’s top female entrepreneurs and CEOs, Tory Archbold knows that just as our stories have the power to shape us, so we have the power to shape our stories. Having attained global recognition through her businesses Torstar and Powerful Steps, now Tory is stepping back to connect with the powerful stories of extraordinary women—their highs and lows, near misses and great wins. From entrepreneurs to CEOs to influencers and beyond, women open up to Tory about the powerful steps they’ve taken, and the sacrifices they’ve made, to achieve their business goals. These compelling stories aren’t just great listening. They invite listeners to step up and take hold of their own power. Find out more at www.powerful-steps.com