Money: Faith & Finance

Should small business owners just suck it up when tax changes hit? After listener feedback, Ben McEachen from Hope Mornings and accountant Pete Burrows from Lower Russell and Farr take a fresh look at what working for yourself really costs. Pete shares the tight early years, the unpaid admin nobody sees, and how uncertainty taught him to lean on his faith. You’ll learn how to test a business idea against your current wage, when it’s time to walk away, and why no small business owner should go it alone. Key Takeaways: Absorbing Change Without Support: Small business owners often have to absorb tax and policy changes they didn’t ask for, usually without any help to adapt. Benchmark Against Your Wage: A business idea is worth testing against the salary, leave and entitlements it would replace, not just against whether it sounds good. The Hidden Workload: Much of running a small business is unpaid work done behind the scenes, from BAS and bookkeeping to paying staff properly. Know Your Exit Before You Start: A time frame or dollar target for getting out helps owners avoid throwing good money after bad as industries change. Small Business Can Be Lonely: Mentors, networking groups and contemporaries matter, because owners carry pressures that people on wages rarely see. Faith in the Lean Seasons: The uncertainty of self-employment can push owners to lean on faith and trust when the bills are due and the money isn’t in yet. Notable Quotes: “You need to know your way out of a room when you walk into it.” — Pete Burrows “It does make you lean a bit on your faith and just trust in the sense that, you know, I don’t know how I’m gonna pay the bills this month.” — Pete Burrows “The benchmark should be what your job is now.” — Pete Burrows “You as a small business operator, more than me as an employee, might actually be more painfully, sometimes joyfully aware that you’re not in control as much as you’d like to be.” — Ben McEachen “Just like in life, you’d probably need more friends than you think you need in business.” — Pete Burrows Got a question, comment or personal story to share? Send it through at hopepodcasts.com.au. Ben and Pete will get stuck into it on a future episode. Pete Burrows is an accountant for small business and individuals with Lower Russell and Farr in Penrith, Western Sydney, Australia. Ben McEachen hosts Hope Mornings on Hope 103.2FM in Sydney, Australia. Support the show, a product of Hope Media: https://hope1032.com.au/donate/2211A-pod/ See omnystudio.com/listener for privacy information.

Is taking out insurance a sin, or just wise? Hope Mornings host Ben McEachen and accountant Pete Burrows tackle the questions they couldn’t get to on their recent livestream. Is retirement Biblical? What should someone renting do with a $150,000 inheritance a year out from retirement? Should a Sydneysider buy regional now or wait? Plus, join Ben and Pete live on Thursday 3 December for a Christmas special. You’ll hear why housing comes before investing, and why a windfall shouldn’t be spent on day one. Key Takeaways: * Insurance Isn't Distrust: Taking out insurance can be part of how God provides when something goes wrong, rather than a sign of weak faith. * Cover Protects Others Too: Insurance isn't only about you, because policies like car cover and CTP protect other people when accidents happen. * You Never Retire From Serving: Paid work may stop, but volunteering, cooking a meal or minding the grandkids are still acts of service. * Plan Retirement Years Ahead: Thinking five to ten years out about what you'll do, and who you'll do it with, shapes the retirement you end up with. * Housing Comes First: Before a windfall is invested, it helps to know where you'll live and what it costs, because rent can swallow a retirement income. * Regional Property Still Carries Risk: Buying in the regions before you move can lock in a price, but higher yields often come with higher vacancy risk and questions about services. Notable Quotes: "Every year you don't die or something doesn't flood or there's no fire insurance seems like a waste of money." — Pete Burrows "The insurance might be there as part of God's provision for looking after you once that accident or whatever occurs." — Ben McEachen "You definitely don't retire from loving God." — Ben McEachen "The people that are in your circle generally influence your behaviour and how your retirement ends up." — Pete Burrows "You can't live inside your ETF." — Pete Burrows Got a question, comment or personal story to share? Send it through at hopepodcasts.com.au. Ben and Pete will get stuck into it on a future episode. Pete Burrows is an accountant for small business and individuals with Lower Russell and Farr in Penrith, Western Sydney, Australia. Ben McEachen hosts Hope Mornings on Hope 103.2FM in Sydney, Australia. Support the show, a product of Hope Media: https://hope1032.com.au/donate/2211A-pod/ See omnystudio.com/listener for privacy information.

Should Christians sell everything and give it all away? Ben McEachen and accountant Pete Burrows dig into Acts chapter 2, where the early church shared everything, and admit how tempting it is to wiggle out of it. They weigh it against Paul's blunt call to work, and Ben opens up about the generosity fund in his own family budget. You'll hear why generosity takes practice, why your skills and time count too, and the small first step anyone can take. Key Takeaways: Different Times, Same Challenge: Acts 2 describes a very different world, but its challenge to hold our possessions loosely still applies today. Work Fuels Generosity: Nothing in the passage suggests the early believers gave everything away and stopped working, and 2 Thessalonians makes work part of the picture. Hold Your Stuff Lightly: A house, super or a job can feel like security, but any of them could go. Give More Than Money: Hospitality, practical skills and time are gifts too, and they're meant to be shared. Generosity Takes Practice: The world pushes us towards holding on, so giving freely has to be learned on purpose. Start Small, Heart First: Generosity begins with attitude rather than amount, so start with something you can do now. Notable Quotes: "If you're not sharing the gift, is it really a gift?" — Pete Burrows "I'm not trying to wiggle out of it, but I really sound like I am." — Ben McEachen "We're looking for all these external things to give us security when in fact they could all go." — Pete Burrows "Is there still money in that generosity fund? Because I don't think I've actually been that generous." — Ben McEachen "It's not necessarily what's in your wallet, but it's what's in your heart." — Pete Burrows Got a question, comment or personal story to share? Send it through at hopepodcasts.com.au. Ben and Pete will get stuck into it on a future episode. Pete Burrows is an accountant for small business and individuals with Lower Russell and Farr in Penrith, Western Sydney, Australia. Ben McEachen hosts Hope Mornings on Hope 103.2FM in Sydney, Australia. Support the show, a product of Hope Media: https://hope1032.com.au/donate/2211A-pod/ See omnystudio.com/listener for privacy information.

Do you still need an accountant now that AI can answer almost anything? Ben McEachen puts that question to Pete Burrows, an accountant with Lower Russell Farr in Penrith. Pete's quick answer: AI is okay, but sometimes you need actual intelligence. He shares when a simple tax return is fine to do yourself, the red flags of a dodgy accountant, and why a phone call before a big purchase beats fixing a costly mistake. Plus, a client who went all in on crypto, and a super tip many couples miss. Key Takeaways Actual Intelligence Over Artificial: AI can process your numbers, but an accountant interprets them and helps you act on them. Complexity Is the Trigger: Simple PAYG returns may not need an accountant. Investments, capital gains, negative gearing, a new business or an SMSF usually do. Ask Before You Act: A quick call or email costs far less than fixing a big financial mistake after the fact. Honesty Is Non-Negotiable: A good accountant won't help you hide income or stretch deductions. One who will is a red flag. Welcome the Pushback: Much of the value in advice comes from someone testing your ideas and naming the risks before you commit. Conversations Uncover Opportunities: Face-to-face discussions surface tax and super strategies, such as spouse contributions, that you may not think to ask about. Notable Quotes "Artificial intelligence is okay. I think occasionally you will need actual intelligence." — Pete Burrows "A phone call to us is cheaper than a big bad mistake that you're going to make if you don't." — Pete Burrows "Doesn't always mean they're going to like the answer, but you need to work with the truth." — Pete Burrows "If I went to an accountant and they were supportive of my dodginess, I should really, at that point be walking out the door." — Ben McEachen "The advice you gave at the time was right for the time. But circumstances and life is dynamic and does change." — Pete Burrows Got a question, comment or personal story to share? Send it through at hopepodcasts.com.au. Ben and Pete will get stuck into it on a future episode. Pete Burrows is an accountant for small business and individuals with Lower Russell and Farr in Penrith, Western Sydney, Australia. Ben McEachen hosts Hope Mornings on Hope 103.2FM in Sydney, Australia. Support the show, a product of Hope Media: https://hope1032.com.au/donate/2211A-pod/ See omnystudio.com/listener for privacy information.

Card surcharges disappear on 1 October 2026. Tap for a $100 purchase, pay $100. Simple enough, until you ask the question accountant Pete Burrows keeps coming back to: the business still has to pay to process that card, so who ends up wearing the cost? Ben McEachen and Pete sort out what's actually changing on eftpos, Mastercard and Visa, what isn't, and what to watch for at the till. Key Takeaways: From October 1st, Australia will implement a ban on surcharges for payments made with Eftpos, MasterCard, and Visa cards. The policy aims to enhance price transparency, allowing consumers to see the full cost of their purchases at the point of sale without additional surcharges. Businesses must decide how to handle transaction costs moving forward, possibly through pricing adjustments. Surcharges for services like Amex, UnionPay, and PayPal will also be removed, expanding the global shift toward reduced transaction costs. The episode highlights the need for consumers and businesses to stay informed about these regulatory changes and their broader financial impact. Notable Quotes: "Technically, that fee is meant to go towards helping the business, but the reality is that business still has costs." - Pete Burrows "They’re trying to say, look, it's transparency. When you go and pay for something, that’s the full price." - Ben McEachen "Depending on the size of the business too, they may have different costs." - Pete Burrows "Most people are using plastic. Really, the question is why should that cost me more every time?" - Pete Burrows "Amex has traditionally been one of the higher cost cards…that’s a big win." - Ben McEachen Resources The RBA's weblink on removal of credit card surcharges here: RBA https://www.cardsurcharge.com.au/ Got a question, comment or personal story to share? Send it through at hopepodcasts.com.au. Ben and Pete will get stuck into it on a future episode. Pete Burrows is an accountant for small business and individuals with Lower Russell and Farr in Penrith, Western Sydney, Australia. Ben McEachen hosts Hope Mornings on Hope 103.2FM in Sydney, Australia. Support the show, a product of Hope Media: https://hope1032.com.au/donate/2211A-pod/ See omnystudio.com/listener for privacy information.