Cash Conversation: My Notes
At the beginning of this month I spoke at Cash Full Stop’s Cash Conversation panel event in Brisbane with the amazing women, Karen Brading & Megan Morton. I was a little nervous heading into the event because I am only 26 and I thought what do I know? What could I contribute to the conversation?! However I love talking about money and I am super curious so I knew I was in for a good night. To give a little background first up, Cash Full Stop is a Financial Consultant business run by Chelsea Murphy & her husband, Karen Brading is a Private Banker (but I call her a Money Wizard because the word banker dulls her sparkle) & Megan Morton is a Stylist who runs her own business called The School.
I had no intention of writing about the night as I was there to answer questions but I left wishing I had a notepad so I could have written down notes. I was so curious that I would have happily sat up there for another hour just finding out more from these women. But either way I wanted to touch on a few of the things from the night that really stood out to me and that I want to adopt in my life.
Please note; I am only speaking through my experiences as a 26 year old. I am not a financial guru in any way shape or form.
CREATING POSITIVITY AROUND MONEY
CELEBRATING WINS
This is something that Megan spoke about that really stood out to me. She spoke about women she met on her travels, dancing when one of their goods were bought. For her it’s going down to a particular cafe/restaurant after a professional/personal achievement. This is what I have really been lacking in my business (and personal life). No matter what job I get that I am so stoked about or what milestone I hit, I approach it in the worst way. I brush it off and focus onto the next thing. I put my previous work in a box and never look back. This is something I am wanting to change, now. It doesn’t need to be a big thing but since I am not a dancer I think it might be booking myself in a night at my new favourite hotel in Brisbane. Something physical that forces me to stop and take in the achievement. This may help these things sink in and feel like they are actually happening.
DEEP PLEASURES
This again was something that Megan spoke about but definitely connects to my version of success. Deep pleasures are things that do exactly what they say - bring you deep pleasure. It is best if they can a mixture of things that be done without expense to you & things that cost you money. For example I find deep pleasures in; food, the ocean, being around flowers, going for drives, listening to music loudly, being with family, sunlight, my home & travel. As long as I have the freedom to do those things, I am pretty happy. If work is really stressing me out or making me not feel so great, I am able to drive to the flower markets and just walk around them and that alone will bring me pleasure. It helps to keep these things front of mind when it comes to your spending also because if you can look at your expenditure and see that none of your ‘non-essential’ spending is going to these deep pleasures than you are probably wasting your money. Notice going for drives is on my list, but not driving or cars, so for me to spend my money on a nice car does not fulfil any pleasure for me in the longer term.
RESHAPING HOW YOU THINK & TALK ABOUT MONEY
This can be a personal one because I don’t know you personally or how you already do think & talk about money. This was something that Megan spoke about and her upbringing around money was different to mine (as all of ours are). It is about changing the negative narrative around money. That money is greedy or that money is hard to get, that only if you work hard will you get money, you only don’t get money if you’re lazy or one that I probably tell myself - money disappears quickly. That negative narrative has me constantly in fear that I will lose it. Not great. We all have those little negative money thoughts, it is just about realising ours so that we can re-frame them.
IF YOU THINK MONEY = SUCCESS, WHAT IS MONEY TO YOU?
Something I realised over the last year is that money without materialising in some form or another is just a number. So ‘money’ itself isn’t really anything more than a number or data, so what is it to you? What does being in a ‘successful’ financial situation look like to you? As I mentioned above, to me it is freedom. It is the freedom to work for myself, it is the freedom to choose the jobs I want to do, it is the freedom to take a week off over Christmas to spend it with my family, it is the freedom to travel, the freedom to buy fresh flowers, the freedom to live in a house I really like & in a suburb that I enjoy. I would highly recommend you asking yourselves the same thing.
COMMUNICATION & KNOWLEDGE IS POWER
One of the biggest things I tell myself when it comes to money is ignorance is not bliss. Knowing & building a healthy relationship with your money is so so important and the younger you get into the habit of it the better. Know how your spending your money, try and understand your money habits, your weaknesses, how you're investing in your future etc. The more you can keep up that relationship with money the more confident you will become and the less sleepless nights you’ll have dreading it. Historically talking about money has been a bit crass, but I say more the better. Not to brag to drop how much you earn, or how much your house has gone up in value but to instead learn and grow from others experiences. I think is is especially important in partner relationships. To be on board your partners goals, or concerns around money will not only help your relationship but will also strengthen you financially.
HAVE YOUR OWN MONEY
Now I want to re-iterate, I am 26. I have no children, I am not married, I don’t own property. However growing up the way that I did, I know that it will always be essential that I have and control my own money. I know personally, solely relying on someone else financially is just not something I ever want to happen. Not because I don’t trust anyone, but money to me is freedom. Freedom to leave at any point, freedom to spend my money on whatever I please because it is my money or freedom to do the job that I want to do. I don’t want to ever be a position where someone else controls the finances because I feel like that controls me.
saving & investing doesn’t
get you praise.
It’s funny that some of the most performing content on social media is external expressions of wealth. Luxury cars, extravagant travels or luxury goods garner admiration and praise for being ‘successful’. Spending our money is the only way of externally showing our wealth. You can’t put up a photo of your savings account, or your investments. There comes a time where it can feel like everyone around you is doing better than you because they are spending their money on external things and the scary thing is most of the time they didn’t even have the money for those things. Try not to be discouraged or feel the pressure to buy shit just to prove that you’re doing okay. Instead go back up to Celebrating Wins and give yourself praise internally, then maybe we won’t feel the need for the praise externally. I feel like this is a topic I could write more about so let me know in the comments if you have any thoughts around it.
I wanted to thank Chelsea, Karen & Megan for that night & sharing so much wisdom.
I would love to know your thoughts on the conversation around cash & my thoughts from the night below in the comments. As always, if there is anything in particular around the topic of cash that would like me to chat about, let me know.
I did a podcast last year with Your Creative Start around money so feel free to give that a listen for more business finance chat.