Financial Wellbeing with The Money Collective

When a relationship ends, one of the first questions people ask is: what happens to the house? Can I keep it? Can I afford to buy somewhere else? Will I need to rent? Where will the kids live? Separation is one of the biggest financial and emotional changes we can go through – and because most of us only do it once, it's hard to know where to start. In this episode, Mel and Darlene share what they see in their one-to-one chats with people going through a separation, and the steps that help people move forward with more confidence and clarity. We discuss: Mel and Darlene's money truths: when life doesn't go to plan, Darlene's feelings about the word "retirement", and why Mel is protecting her long-term savings for the first time Why it pays to be deliberate about how much you spend today versus how much you set aside for tomorrow The assumptions people make about who can (and can't) keep the family home Why getting a home loan as an individual is different from applying as a couple – and why it's never too early to find out your borrowing capacity How stretching yourself to keep the house initially can buy you time to make your next decision on your own terms The experts who can help, from mortgage brokers to divorce coaches and intermediaries Why knowing your numbers at different settlement splits can help you move forward This week's TMC Take is that it's never too early to think about it – even when your relationship is happy. Be empowered with your numbers and stay involved in your household finances. If you're already going through a separation, bring in a fair third party to help, make sure you walk away with your fair share, and remember you don't need to solve all of life in one go. It's a topic many of us will experience, either ourselves or through someone we love. We hope this conversation helps you take the next step, whenever you're ready. ABOUT THE MONEY COLLECTIVE PODCAST Financial Wellbeing with The Money Collective brings together the stories and insights Darlene Neu and Mel Pearce have gained through working with thousands of Australians and helping them navigate their finances. With more than 50 years of combined experience in banking and finance, Darlene and Mel break down the barriers we face every day when it comes to money, relationships and family life. It's an honest, no-holds-barred podcast about financial wellbeing and the role money plays in all our lives. READY TO BEGIN YOUR FINANCIAL WELLBEING JOURNEY? Get to know your cost of living by listing your expenses using our handy spending review spreadsheet: https://www.themoneycollective.com.au/resources Book a time to chat with us, ask questions and talk about all things financial wellbeing, home loans and more. Email [email protected] Take action and improve your financial wellbeing with our online course: https://www.themoneycollective.com.au/onlinecourse

If buying your first home feels completely out of reach, we recommend stepping away from the property listings and gathering the facts. The headlines tell us that buying a home is harder than ever. But without understanding the options available, it's easy to assume home ownership isn't possible – or put off learning more until you feel "ready". In this episode, Mel and Darlene explore why the first-home journey should begin with financial education, a clear plan and a better understanding of what matters to you. We discuss: Darlene and Mel's money truths: supporting their children as they work towards independence – from first jobs and moving away to learning to drive and saving for a car How the stories we hear about housing affordability can shape our beliefs and behaviour Why facts can help you move beyond fear, assumptions and financial overwhelm Why your values, lifestyle and future plans should guide the type of home and loan you choose How the five per cent deposit scheme could help eligible first-home buyers purchase sooner than they think The questions to ask a bank or mortgage broker before committing to a loan Why your first move shouldn't necessarily be opening realestate.com.au This week's TMC Take is that your first-home journey should start with a plan, not a property search. Learning what's possible gives you the confidence to decide whether buying is right for you, what you're comfortable spending and which options could support the life you want to create. You don't need to have everything figured out before asking questions. Start early, get curious and don't be afraid to seek another perspective if you aren't receiving the information you need. We hope this conversation helps you cut through the noise, explore your options and take the next step in your own time. ABOUT THE MONEY COLLECTIVE PODCAST Financial Wellbeing with The Money Collective brings together the stories and insights Darlene Neu and Mel Pearce have gained through working with thousands of Australians and helping them navigate their finances. With more than 50 years of combined experience in banking and finance, Darlene and Mel break down the barriers we face every day when it comes to money, relationships and family life. It's an honest, no-holds-barred podcast about financial wellbeing and the role money plays in all our lives. READY TO BEGIN YOUR FINANCIAL WELLBEING JOURNEY? Get to know your cost of living by listing your expenses using our handy spending review spreadsheet: https://www.themoneycollective.com.au/resources Book a time to chat with us, ask questions and talk about all things financial wellbeing, home loans and more. Email [email protected] Take action and improve your financial wellbeing with our online course: https://www.themoneycollective.com.au/onlinecourse

This week, we're discussing a common situation we see: dual-income households earning great money but still struggling to get ahead. Most of us believe that earning a better wage will help us achieve financial wellbeing. But in reality, it's about knowing your numbers, being in the driver's seat when it comes to your money and spending according to your values. In this episode, we cover: Mel and Darlene's money truths: the reality of installing solar and the challenge of holding firm in the face of financial pressure from a teenage daughter Why so many dual-income households are struggling – and our top tips for putting yourself in the driver's seat when it comes to your finances What financial wellbeing actually means Why it's normal for your financial focus to change at different stages of life The trade-offs that come with every financial decision How not knowing your numbers can prevent you from making confident decisions Our TMC take is that earning more doesn't necessarily equate to improved financial wellbeing. In fact, as we often see in our one-to-one chats, people navigating tight financial circumstances are often more informed and deliberate with their money. We love talking about money – and we believe that the more we have these conversations, the more we can reduce the shame and stigma surrounding a topic that plays such a significant role in all our lives. We hope this episode resonates with you. ABOUT THE MONEY COLLECTIVE PODCAST Financial Wellbeing with The Money Collective brings together the stories and insights Darlene Neu and Mel Pearce have gained through working with thousands of Australians and helping them navigate their finances. With more than 50 years of combined experience in banking and finance, Darlene and Mel break down the barriers we face every day when it comes to money, relationships and family life. It's an honest, no-holds-barred podcast about financial wellbeing and the role money plays in all our lives. READY TO BEGIN YOUR FINANCIAL WELLBEING JOURNEY? Get to know your cost of living by listing your expenses using our handy spending review spreadsheet: https://www.themoneycollective.com.au/resources Book a time to chat with us, ask questions and talk about all things financial wellbeing, home loans and more. Email [email protected] Take action and improve your financial wellbeing with our online course: https://www.themoneycollective.com.au/onlinecourse

Owning your home is a core part of the great Australian dream – but it's also something many people feel is out of their reach these days, especially for the younger generation. In this episode, we explore why housing feels so unaffordable for first home buyers and share our best tips for getting into the market (we believe in you!). We cover: This week's personal money truths: balancing the competing priorities of work and family; and wondering when it's okay to contribute to a kid's purchase Where to start as a first home buyer – and why Government schemes can be a great way to get into the market How much you REALLY need for your deposit Why it's essential to know your facts and figures Why we recommend talking to a mortgage broker before you feel "ready" The TMC view on why budgets don't work – and how to make yours stick If you're saving for your first home, dreaming of getting into the market or have a loved one who's planning on buying their first home, we hope this episode is the pep talk you need to understand that it IS possible. As mortgage brokers, we help people take their first steps towards home ownership every day – and with the right information, preparation and planning, you might be closer than you think. ABOUT THE MONEY COLLECTIVE PODCAST Financial Wellbeing with The Money Collective brings together stories and experiences from working with thousands of Australians when it comes to money. This is a no-holds-barred, honest podcast. Darlene Neu and Mel Pearce have been working in banking and finance for over 50 years and break down the barriers we face every day when it comes to our relationships, families and finances. READY TO GO ON THE JOURNEY OF FINANCIAL WELLBEING? Know your cost of living by listing your expenses with our handy spending review spreadsheet: https://www.themoneycollective.com.au/resources Book a time with us to ask questions and talk all things financial wellbeing, home loans, and more. Email [email protected]⁠ Take action and uplift your own level of financial wellbeing with our online course: https://www.themoneycollective.com.au/onlinecourse

You've heard us talk about the importance of money stories before, but in this episode we REALLY break it down for you – sharing why they matter, how they drive our behaviour, and opening up about how our own upbringings shaped our personal money stories. Whether you realise it or not, your money beliefs are influencing every decision you make – and how big you dare to dream when it comes to your life and finances. In this episode, we cover: How a recent exciting work trip got us thinking differently about what's possible – and the ways our families brought us back down to reality The importance of challenging yourself and changing your behaviour to get a different outcome What to do if you feel like you're just not building your savings Why you need to know your numbers to create a real plan The TMC view on how our money beliefs shape our behaviour – and how to better understand yourself Mel and Darlene's personal money stories, and how they've shaped their attitudes and decisions throughout their lives We hope that by talking openly about our own money stories (and encouraging you to chat to others about yours), we can collectively break down the shame, stigma and ego around money. At the end of the day, your story is trying to keep you safe – but you have the choice to keep the parts that are serving you and release the parts that aren't. We hope you enjoy this episode – and in the spirit of uplifting financial wellbeing across Australia, we'd love it if you'd share it with someone who'd benefit from it. ABOUT THE MONEY COLLECTIVE PODCAST Financial Wellbeing with The Money Collective brings together stories and experiences from working with thousands of Australians when it comes to money. This is a no-holds-barred, honest podcast. Darlene Neu and Mel Pearce have been working in banking and finance for over 50 years and break down the barriers we face every day when it comes to our relationships, families and finances. READY TO GO ON THE JOURNEY OF FINANCIAL WELLBEING? Know your cost of living by listing your expenses with our handy spending review spreadsheet: https://www.themoneycollective.com.au/resources Book a time with us to ask questions and talk all things financial wellbeing, home loans, and more. Email [email protected]⁠ Take action and uplift your own level of financial wellbeing with our online course: https://www.themoneycollective.com.au/onlinecourse