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Cover design and stripe concept by Alissa Dinallo
Internal design and artwork (except where noted) by Chris Shorten/Wiley
The material in this publication is of the nature of general comment only, and does not represent professional advice. It is not intended to provide specific guidance for particular circumstances and it should not be relied on as the basis for any decision to take action or not take action on any matter which it covers. Readers should obtain professional advice where appropriate, before making any such decision. To the maximum extent permitted by law, the author and publisher disclaim all responsibility and liability to any person, arising directly or indirectly from any person taking or not taking action based on the information in this publication.
To the Smart Women Society community thank you for your never- ending support and for making this book possible.
INTRODUCTION
No-one really prepares you for adult life.
Trying to excel in your career, manage your money, maintain your friendships, look after your physical and mental health, reply to all your emails and texts, stay hydrated, avoid burnout, invest for your future, set healthy boundaries, work on your goals, be happy and get enough sleep.
If you feel exhausted after reading the above paragraph, I’m with you.
It can feel like a never- ending juggling act.
Ever since I was in school, I have always been obsessed with breaking things down into simpler steps.
As a student and then as a university tutor, I would always draw simple graphics and flowcharts breaking down the topics we learned in class and summarising the key points we had to know for exams. I created copies of these breakdowns and shared them with my friends and students as study notes.
In university, I would help my friends write their resumés and cover letters to land internships and graduate jobs.
At work, I would always preach the importance of financial independence and show my colleagues of all ages the steps to create a budget in the break room at lunchtime.
Nothing beat the feeling of seeing the smile on someone’s face when a topic finally ‘clicked’ for them.
My approach has always been the same: practical, actionable and easy to understand. I break down complex topics into visual summaries and simple steps, so they are easily digestible and quick to learn and implement.
My goal when I started Smart Women Society was to implement this on a larger scale, breaking down a variety of topics across all areas of our lives, and help people just like you feel confident and empowered to achieve their goals.
This book is filled with more than 130 tips and lessons I’ve learned along the way through my experiences, research and working with industryleading experts.
I wrote this book to help you take control of all areas of your life. To show you how much potential and power you have. To make you feel empowered to level up in your finances, your career, your relationships and your overall wellbeing.
Before you get stuck into this book, I have one request: take action.
Read the tips and implement them in your life.
It may feel scary, but the hardest step is always the first one.
Don’t let yourself in a year’s time wish you had started a year ago.
Start today.
HOW TO USE THIS BOOK
This book is broken down into four sections:
● Money
● Career
● Wellbeing
● Love.
Within each section is a variety of chapters covering different topics and issues that many of us face every day. Each topic is short and filled with simple, actionable and easy-to-understand tips that you can implement straight away.
Consider this book as your go-to guide. It’s your companion and starting point as you navigate various situations and different seasons in your life. Make it your own write all over it, highlight parts, fold down the corners and do research to learn more about the topics that interest you.
You can read this book from start to finish or you can start at whichever chapter is most relevant or interesting to you. One month you may want to try some new productivity techniques, and another month, you may be more focused on boosting your self- confidence. Re-visit the chapters as often as you need.
I would love to hear about your progress: send us a DM on our Instagram (@smartwomensociety) or email me at hello@smartwomensociety.com.
You’ve got this!
I’ve made a lot of silly money mistakes in my time. Some of my ‘highlights’ (in no particular order) include:
● I once went to a new hair salon to get my hair cut and coloured. I didn’t ask how much it cost before the hairdresser started, and when I got to the counter, it was $650. I was absolutely mortified but had no other option than to just pay it.
● I didn’t realise that I had to actually cancel subscriptions after the free trial period and ended up wasting hundreds of dollars on random apps and streaming services I never used.
● As soon as I received an offer for my graduate role, I bought a very expensive handbag so I could ‘look the part’ on my first day. I wasn’t starting the job for another six months and I had already spent a big portion of my first pay cheque.
● I was running late to an appointment and couldn’t find a park, so I stopped in a loading zone outside. I came out 15 minutes later to a very hefty fine.
● I always thought I needed to ‘treat myself’ after a long week at work and would constantly buy random beauty items or new clothes to boost my mood. The man at the post office remembered my name from how often I was going in, and would snidely ask me: ‘So what did you get this week?’
We’re all human. We all make mistakes that we may not be particularly proud of. However, what’s important is that we forgive ourselves for these past mistakes and learn how we can improve in the future. For many people, learning how to manage your money was never really taught when they were growing up. The beliefs and the behaviours that we have towards money usually stem from how we saw our parents and other people interact with money and what we saw in movies or on TV. Maybe you’ve always told yourself that money is ‘too hard’. Or maybe you’ve convinced yourself that it’s ‘too late’ to change your relationship with money. But you are far more capable than you think and there is no better time than today to take the first step to transform not only your money, but your life.
Remember, personal finance is just that personal. We all have our own unique upbringings, privileges and backgrounds, and negatively comparing yourself to someone else’s situation is a waste of your time. The only person you should be comparing yourself to is the person you were yesterday. If you focus on becoming just 1 per cent better every day, you will see huge progress over time.
You might be wondering: what does 1 per cent better even look like? One per cent better can include a variety of things such as working on your money mindset, forgiving yourself for past money mistakes, setting financial goals, creating a budget, paying off debt, being financially prepared for an emergency, knowing where your money goes every month, exploring ways to grow and invest your money, and learning how to shop smarter and avoid impulse shopping.
It may feel overwhelming, confusing or daunting, but remember that you do not have to change everything all at once. Pick one or a few things to focus on at a time and build systems and habits so it becomes a natural part of your life. When you feel like you have a good grasp of the topics, choose some more areas to work on, and watch your confidence with money grow. What matters is that you have decided to take control, transform your relationship with money and work towards becoming financially free.
Being financially free and independent is so important. The reason for this is that when you are financially independent, it allows you to make your own decisions without the influence or control of others. It means you can say ‘no’ and walk away from things that do not serve you. It means that you no longer stress about money or have money hold you back when making a decision. It means you have full control of your time and can live life on your own terms.
And probably more importantly, financial freedom gives you choice. It gives you the choice to quit a job that you feel trapped in and take your time finding a better one, end a toxic relationship or be there for your loved ones when needed. This is why it’s so important to build positive money habits and have a plan for your money, so that you are never in a situation where you feel stuck, trapped or held back.
1 Laying the foundations
YOUR MONEY MINDSET
Limiting beliefs
Lifestyle creep vs elevation
Instant vs delayed gratification
Imposter syndrome
Our money mindset and attitudes towards money ultimately shape how we handle our finances. The money mindset we have is usually shaped by how we grew up around money, our experience with it growing up and witnessing how our parents and other people interacted with money. For example, if you come from a household where your dad handled all the finances and your mum didn’t make any of those decisions, then this is likely to lead to you having similar beliefs as an adult. Or if money was
INSTANT VS DELAYED GRATIFICATION
Many of us are prone to wanting instant gratification: constantly buying new clothes to be ‘trendy’, wanting the latest thing to ‘keep up’ or seeking immediate results or pleasure. Even though choosing something now may feel good in the moment, taking a longer-term view and developing self- discipline can result in bigger and better rewards in the future. Delayed gratification is our ability to resist these temptations of instant pleasure, allowing us to stay focused on our long-term goals. It involves budgeting and spending mindfully, as well as developing discipline and patience to avoid impulse spending and decision making. Think about instant vs delayed gratification when you are developing your own financial goals. Consider whether your goals are focused on short-term gains or designed to look forward to a bigger picture.
LIFESTYLE CREEP VS ELEVATION
One of the biggest money mindset mistakes you can make is lifestyle creep. When you receive a pay rise at work or you increase your income with a new job or side hustle, it can be tempting to spend that extra money on a nicer car, more expensive restaurants or fancier clothes. Before you know it, these former luxuries become ‘necessary’ spending and you find yourself running out of money every month. Avoiding lifestyle creep involves having clear financial goals that you are working towards, tracking your spending and automating transfers to your savings and investments so they occur before any non- essential spending happens. When you receive an increase to your income, allocate a small portion to treat yourself and put the rest towards your financial goals.
In contrast to lifestyle creep, lifestyle elevation is the way we act following an increase in income that benefits our lives. Rather than seeing this as a negative, lifestyle elevation focuses on the positive benefit that can come from spending more on your lifestyle. This includes investing in personal self- care, spending more on higher quality items that will last longer, improving your standard of living, having the ability to travel and paying
As my everyday decisions changed, eventually I had to tackle money. I had been seeing an amazing kinesiologist for almost a year, and with just one session on my relationship with money, I had an awakening. She showed me that my relationship with money was deeply rooted in my self-worth, which was, for years, scarred by a broken relationship with my father. During my second therapy session, we unlocked that I subconsciously did not want to save up because I believed that if I saved my money, I wouldn’t have a life. I saw my mom living frugally and not looking after herself just so that my brother and I could enjoy our lives.
After that session, I bought my first book about money and went on an Instagram and YouTube spree to find the best financial advisers. I am so grateful to have come across Smart Women Society, as their content is so easy to understand and is relatable in so many ways.
I’m only in the primary stages of building a healthy relationship with money and I love it already. I recently started a fortnightly, zero-based budget, setting up a savings account with interest, and enjoying seeing my savings grow. I’ve also reflected on my spending habits and a lifestyle I am happy with without all the frivolous stuff involved.
Thanks again SWS for all the work that you do.
Frances
FINANCIAL GOALS
If you find yourself feeling unmotivated or stuck when it comes to budgeting or saving money, you may not be setting effective money goals. Setting goals gives you a sense of direction and purpose for all the effort that you are putting into improving your finances. Without meaningful financial goals, we can lose interest or feel indifferent, which can result in bad money habits. Put yourself in the best position to take control of your money by defining your financial values and setting smart goals that align with these values.
