Dual Incomes, Good Money… So Why Are We Still Struggling?

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