S4 E29 Yep, another EOFY Podcast! cover art

S4 E29 Yep, another EOFY Podcast!

S4 E29 Yep, another EOFY Podcast!

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It is the end of financial year, and if this week has been all receipts, logbooks and bookkeeper calls, you have had plenty of money conversations already. Every one of them was with someone else. The tax office. Your accountant. A portal at ten at night. This episode is about the one conversation you have not had yet, the one with yourself, and why the first of July is the cleanest fresh start you will get all year. Grab a pen, put the kettle on, and let's have it. The four conversations to have with yourself before the new financial year gets going: Where am I right now? Work out your net worth. What you own minus what you owe: home equity, super, savings, investments, loans, cards. Most of us know our income cold and go blank on our net worth. Log in and find your actual super balance, even if it is confronting.What do I actually want? Stop asking only "can I afford it" and start asking "what am I building." Picture three pools of money: lifestyle (the everyday), project (the renovation, course, trip, business) and future (super, investments, assets). Trouble starts when they all swim in one account and the project quietly eats the future. Name the thing you keep not letting yourself do, then decide which pool it belongs to.Who do I need to become? We change our behaviour when it matches who we believe we are. Move from "I'm hopeless with the money stuff" to the present tense: "I'm someone who takes leadership of my financial future. I'm someone who knows her own numbers." Nobody was born knowing this.Who am I going to say it to? The first three happen in your head. This one has to leave it. Text your sister, book the call with your super fund or accountant, ring a financial counsellor if you are stuck. The women who talk about money make better decisions about money. The number worth knowing: the ASFA benchmark for a comfortable retirement for a single homeowner now sits around $630,000 in super (ASFA Retirement Standard, updated February 2026). Knowing you are behind is not the bad news. Not knowing is. On the downsizer super strategy mentioned in the episode: if you are 55 or older and sell a home you have owned for 10 years or more, you may be able to contribute up to $300,000 per person ($600,000 for a couple) from the sale proceeds into super as a downsizer contribution, within 90 days of settlement. It sits outside the usual concessional and non-concessional contribution caps, which is what makes it powerful for topping up super later in life. It does count toward your total super balance and can affect Age Pension entitlements, so it is worth getting advice on the timing. Full rules and the form are on the ATO page linked below. Your next step this week Pick one of the four conversations. Not all of them. One. Have the honest one and find your super balance, or have the out-loud one and text one person the words "I'm finally getting on top of my money." One conversation this week changes which version of you walks into the new financial year. Links and resources The Happy Money Society (now live, free and paid options): phoebeblamey.com.au — links also in the episode notesWork with Phoebe: phoebeblamey.com.auATO — downsizer super contributions: ato.gov.auASFA Retirement Standard (the comfortable-retirement benchmarks): superannuation.asn.auASIC Moneysmart (free, independent money guidance and calculators): moneysmart.gov.auNational Debt Helpline (free, confidential financial counselling): 1800 007 007, ndh.org.au A quick note Everything in this episode is general information to get you thinking. It is not personal financial advice and it does not take your own circumstances into account. Please get advice tailored to you before making any big financial moves. Until next week, whatever you're doing, wherever you're doing it, and whoever you're doing it with, enjoy your journey.
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