941b wwgd: one spender, one saver, one household, but two money systems

Glen James (0:06)

Today, we are doing an episode of What Would Glen Do. Thank you for joining us again.

If you've been around the tracks a little bit, if you are new here, this is a series, it's called What Would Glen Do. So that means I will ask people a heap of questions. They'll ask me what they think or want to know that I would do in a situation. And I would tell them, if you do get outraged, please let us know in the comments on Spotify or YouTube, all the outrage. It only helps with our algorithm, but just remember it is what Glen would do. Individual results may vary. Follow the instructions on the box. And if in doubt, go back to your doctor.

But if you wanted to listen to these episodes only, you can do that. There's a dedicated podcast channel on Apple and Spotify called WWGD, and that just drops all these episodes. They're also on the main feed, so it's just whatever works for you. This episode is brought to you by Sphere Home Loans. We are a big believer in getting a mortgage broker when you need your first home, your next home, if you want to upsize or downsize. There's no out-of-pocket cost to see Sphere Home Loans. They are enumerated by the banks and lenders. You can talk with the team, have a confidential and exploratory discussion. Let them know your situation. If you've got an existing mortgage that hasn't been reviewed in a while, let them run their eyes over it and they'll let you know where you stand. If a new loan is required, they'll look at your situation and then look at all the different banks and lenders and present you with options for you to make your own decision. Then they'll help with the application, the gift wrapping for the bank and you don't need to lift too many fingers. So thank you to Sphere Home Loans. You can find them at wherever you get your Googling. Just Google Sphere Home Loans and you will be in great hands. Well, as I said, my name is Glen James and this is What Would Glen Do? We're going to do it right now.

Before we get into it, this show is general advice only. I've got a license to provide that advice. Full details can be found in the show description. My name is Glen James, former Financial Advisor. I host this show and a show called Retire Right. I've got some books, the award-winning Quick-Start Guide to Investing and The Quick-Start Guide to Your First Property available where good books are sold or in the description. If you're new here, welcome. If you're in old hand, welcome to M3. Let's get into it right now.

Radio, today we have Matt, hey, Matt, what's crappin in?

Matt (2:52)

Oh, not a lot. Glad to be here.

Glen James (2:54)

Love it. Hey, tell us a little bit about your situation. Firstly, what do you want to ask me, what I would do or your question for me?

Matt (3:04)

Sure. Basically, I just want to ask how to stop living paycheck as well as improve my current spending plan, which I've just recently started using. Because I quite often start burning through money before my next pay comes along and I'm scrambling and start using savings and not investing and it's just a bad time.

Glen James (3:25)

Yeah, yeah, yeah, yeah. All right, well, let's walk through the details. Matt, where are you based?

Matt (3:32)

I'm based in Sunny Cairns.

Glen James (3:33)

Love it.

Matt (3:34)

Far North Queensland.

Glen James (3:35)

Love it. How old are you, Matt?

Matt (3:38)

I'm 31

Glen James (3:39)

Nice. And what are you doing for work?

Matt (3:42)

I am an internal sales at an electrical wholesaler.

Glen James (3:45)

Yeah, cool. So, internal sales, is that, so if trades come in and there's big electrical accounts, are you dealing with that type of stuff? Like, is it like a Go or a TLE or Turks or something like that?

Matt (4:00)

Yeah, basically like that, yeah. So, yeah, they come in, they shop on the phone, emails, et cetera.

Glen James (4:06)

Yeah, yeah, cool.

Matt (4:08)

Anything inside the branch I'm responsible for.

Glen James (4:10)

Awesome. Yeah.

Cool. And you're working full-time?

Matt (4:15)

Yes, that's correct.

Glen James (4:16)

What type of earnings are you on at the moment?

Matt (4:19)

It's recently gone up. At the moment, it's 71,000 plus super. It was at like 63 or 64

Glen James (4:26)

Yeah.

Matt (4:27)

But yeah, it's gone up recently, thankfully.

Glen James (4:28)

Yeah, cool. And do you have any kids?