Aussie Experts Share Their #1 Personal Finance Tips

17 Jan 2018 - Michael Frigger - 9 minutes

Aussie Experts Share Their #1 Personal Finance Tips

As much as I’d like to claim it, sadly, we aren’t familiar with all the personal finance tips out there (even with our big brains working together) – which is why I reached out to some of Australia’s financial experts – asking them to share their #1 personal finance tip.

The wise people you’ll be hearing from today:

  • Jane Slack-Smith – Investors Choice
  • Lacey Filipich – Money School
  • Michael Ginsburg – Spending Hacker
  • Nick Shanley – Shanley Financial Planning
  • Marion Mays – Thalia Stanley Group
  • Leonie Fitzgerald – Wealthology
  • Ian Chester-Master – Brisbane Business Accountant

Here’s what they had to say:


Jane Slack-Smith from Investorschoice.com.au has worked with thousands of Aussies over the years – giving her unique insights into some of her most successful clients.

Jane Slack-Smith

Taking back your financial freedom is scary, but doing it one step at a time and having small wins on the way is essential.

These are the three traits they have in common:

  1. Realistic goals with a realistic timeline – look for the first win to boost your momentum whilst breaking down the larger goals into smaller chunks (more wins > more motivation).
  2. Commitment – Their goals have been planned specifically to their strengths ensuring they are 100% committed to achieving them.
  3. Discipline - There are no half-hearted people here. They understand financial success only comes from hard work and discipline (besides those lucky bugger lottery winners).

Lacey Filipich from Moneyschool.org.au has been educating Aussies on everything personal finance for years. Founded by herself and her mother, Fran, the Money School curriculum is concise, yet still comprehensive, leaving all students with a solid grasp on personal finance.

Lacey Filipich

Pay yourself first. If you spend everything, you pay everyone else but you.

Lacey’s top tip to tackle your own personal finances is to pay yourself first. As soon as your income hits your bank account and is under your control, move it somewhere safe, out of sight, and out of your temptation.

This will ensure you’ll be setting yourself up for a financially independent future.


The single best piece of advice Michael Ginsburg from the team over at SpendingHacker.com.au can let you in on today is to never be loyal to any product/service. Especially if you’re in the business of saving money.

Spending Hacker

Research by the Queensland University of Technology revealed that Aussies are forking out more than $11.6 billion more than they must, every year, for various services. You can read about the study here.

Michael Ginsburg

Be a 'promiscuous' consumer and NEVER have any sense of loyalty to any provider.

There’ll always be a competitor nearby who’ll gladly provide you with the same product/service, but will end up taking less of your hard-earned cash.

It may be a bit scary at first, but what have you got to lose? Nothing.

Only everything to gain.


I absolutely love this next tip brought to you by Nick Shanley. He wholeheartedly recommends the first thing you should do – is to set up a budget.

I know, I know – making a budget won’t save you money directly, but it will allow you to grab a bird’s eye view of your overall financial situation and make far more informed (and better) decisions.

Nick Shanley

Putting together a budget will allow you to understand your income and your expenses.

Nick is bringing this tip to you from his financial planning firm – ShanleyFinancial.com.au. If you reside in the Hunter region of New South Wales, check them out.


Ok, even though I put the call out for Aussie experts to share their ultimate tip for personal finance, sometimes you simply can’t hone it down to a single item.

Thalia Stanley Group

The founder and CEO of Thalia Stanley Group (wealth creation advocacy), Marion Mays, shares the same feeling. Her recommendations:

  • Track every dollar you spend and cut out all the leaks (e.g. no more full English café breakfasts 4 times/week)
  • Always keep an eye on utility providers and their prices. More often than not, you’ll be able to score yourself a killer deal from switching, or simply threatening to switch suppliers.
  • Declutter – spend a couple of weekends sorting through those rooms and boxes which you haven’t thought about for years. What’s that saying again? ‘One man’s junk is another man’s financial freedom?’ That’s the one.
Marion Mays

Budgeting may not be the most glamorous way to save money, but it's effective.

After the above has been taken care of, it’s time to focus on your future. Spend more than a little time fully understanding your superannuation, savings, and potential investment strategies.

Your future self will love you for it.

She runs regular ‘Money Mindset’ workshops with the next one scheduled for November 2017. You can find more information on her website – ThaliaStanley.com.au.


The Founder and Investment Specialist of Wealthology Australia, Leonie Fitzgerald, tells is straight up – don’t spend more than you earn.

If you can’t afford it, you can’t afford it.

Stop lying to yourself. Stop taking on debt. And start preparing to be financially secure.

Leonie Fitzgerald

Don't spend more than you earn.

Wealthology.com.au operates out of Brisbane but is able to help Aussie’s all across the country take their first steps today.


You pay to have your car serviced. You pay to have your plumbing fixed. And you pay to have new lights put in. What do they have in common?

Brisbane Business Accountant

You’re paying a professional for a service. Why? Because they’re bloody good at it (likely a lot better than you). So why aren’t you paying to have someone help you with your finances?

Ian Chester-Master, with the team at Brisbane Business Accountant, is a true believer in paying for good advice.

To preface, I understand Ian’s a financial advisor, and I understand he’s recommending you pay people like him, to help you. But hear him out for a second.

Ian Chester-Master

Successful people are willing to receive and follow good advice.

The legendary (not so much lately) Australian cricket team pay a coach to help them. Richard Branson pays a professional advisor to help him. Even the renowned Michael Jordan had a coach, by the name of Phil Jackson.

What can we learn? Successful people pay advisors. And they take action on their advice.

I don’t want to hear any of this “but they have more money to pay advisers” nonsense. More often than not, you’ll always have a positive return on your investment into an adviser.

Check out Ian’s team over at BrisbaneBusinessAccountant.com.au for more info.


There you have it, folks. Personal finance tips from seven of Australia’s leading industry experts.

One more time – the advice above is only beneficial if you take action on it.

So go, take action.


Michael Frigger

Michael Frigger

Engagement

Michael enjoys long walks along the beach accompanied by a glass of fine wine with a side of vegemite and crackers. Whilst he's not doing that, he's doing his part to help Australians better their personal finances through CashMaster.