In this episode of Spending Made Easy, Ron Fiedler sits down with budgeting expert Samantha Boardman to explore the crucial topic of distinguishing between wants and needs.

Sam explains that "needs" are the basics essential for survival—food, shelter, and water—while "wants" are non-essential items like the latest gadgets or extra shoes.

Sam suggests that the key to managing finances is shifting your mindset, rethinking how you categorise these purchases, and considering whether something is a genuine need or just a passing desire.

As we move further into the conversation, Sam offers practical advice for balancing indulgences with responsible budgeting.

By setting aside a fixed amount each week—whether it’s $20 or $100—listeners can enjoy the occasional treat without derailing their financial goals.

The idea is to plan for these wants, rather than impulse-buying, ensuring your spending aligns with your overall financial strategy. Sam encourages listeners to consider how future-proofing your financial plans can make space for small indulgences without neglecting essentials.

Here are short chapter summaries for the podcast episode on "Wants vs Needs," with one-line explanations and time stamps:

Chapter Summaries

Defining 'Wants' and 'Needs'(02:31 - 06:00)

Clarification of the key differences between essential needs and discretionary wants.

- Why It’s Important to Know the Difference (06:01 - 09:00)

Explaining how understanding the difference can help with budgeting and financial freedom.

- Strategies for Managing Wants in Your Budget (09:01 - 13:00)

Practical advice for balancing non-essential desires within a responsible financial plan.

- Real-Life Examples of Wants vs Needs (13:01 - 17:00)

Examples of everyday spending decisions illustrate the difference between wants and needs.

Overcoming Emotional Spending (17:01 - 21:00)

Discussing how emotions can influence our spending choices and tips for staying disciplined.

Host and Producer: Ron Fielder

Web: podcastcity.com.au

Email: ron@podcastcity.com.au

Mobile: ‭0491 633 320‬

Co-Host: Samantha Boardman

Web: spendingmadeeasy.com.au

Email: hello@spendingmadeeasy.com.au

Mobile: 0404 468 525

In this episode of Spending Made Easy, Ron Fiedler had the pleasure of welcoming Samantha Boardman, the founder of Spending Made Easy, back to the show.

Our focus today was on celebrating success stories—real-life examples of how effective budgeting and mindful spending have transformed lives.

Samantha shared some of her favourite success stories, starting with a long-term client named Paula.

After transitioning from another budgeting organization that charged her $20,000 in fees, Paula embraced the DIY approach offered by Spending Made Easy.

With just six months of support and guidance, she became empowered to manage her own spending plan.

The results were remarkable: Paula upgraded her car, installed solar panels, renovated her house, and even started her own business. This story exemplifies the long-term impact of adopting effective spending habits.

We also discussed the common traits among successful clients, highlighting the importance of being open to new ideas and recognising that there may be better methods than their current practices.

Samantha emphasised that the Spending Made Easy tool is a game changer, allowing clients to project their financial future and make informed decisions.

Another inspiring story came from a recent client who, as a single mother of three, initially felt overwhelmed and considered taking on a second job.

However, after following the spending plan, she discovered she didn't need the extra income and instead found herself in a position to pay off her mortgage faster.

This client expressed her joy at being able to manage her finances effectively for the first time, breaking free from the cycle of debt that often plagued her during the holiday season.

Throughout our conversation, we touched on the diverse clientele that Samantha serves, from single parents to high-income earners, and even pensioners.

We discussed how the spending plan can be tailored to meet the needs of various demographics, including young people just starting their financial journeys.

Samantha shared a heartwarming story of a mother who gifted her daughter a spending plan as a wedding present, illustrating the value of financial literacy from an early age.

As we wrapped up the episode, I was reminded of the profound impact that a well-structured spending plan can have on mental health and overall well-being. Samantha's insights reinforced the idea that taking control of one's finances is not just about numbers; it's about empowering individuals to live their best lives.

If you're interested in learning more about how to take control of your spending, I encourage you to reach out to Samantha Boardman at Spending Made Easy.

You can contact her at 0404 468 525 or visit spendingmadeeasy.com.au for more information.

Remember, every big change starts with a small step, so don't hesitate to take that first step towards better financial habits. Thank you for tuning in, and I look forward to our next episode!

Chapter Summaries

00:01:35 - Celebrating Success Stories

00:02:02 - Paula's Transformation

00:03:13 - Why Clients Stay with Spending Made Easy

00:03:59 - Common Traits of Successful Clients

00:05:13 - Another Inspiring Success Story

00:06:27 - Breaking the Cycle of Debt

00:08:03 - The Impact of Mindful Spending

00:09:44 - Spending Plans for All Walks of Life

00:11:30 - The Importance of Professional Guidance

00:12:44 - Budgeting for Pensioners and Young Adults

00:16:08 - Setting Up Young People for Financial Success

00:17:54 - Client Engagement and Support

00:20:02 - The Value of a Spending Plan

00:22:35 - Conclusion and Contact Information

Host and Producer: Ron Fielder

Web: podcastcity.com.au

Email: ron@podcastcity.com.au

Mobile: ‭0491 633 320‬

Co-Host: Samantha Boardman

Web: spendingmadeeasy.com.au

Email: hello@spendingmadeeasy.com.au

Mobile: 0404 468 525

In this episode of Spending Made Easy, with hosts Ron Fiedler and Sam Boardman Samantha shares her expertise on how creating a personalised plan can reduce financial stress, empower individuals to take control of their money and align spending with future goals.

From preparing for annual events like Christmas to managing unexpected expenses like car repairs, Samantha demonstrates how a spending plan provides clarity and confidence.

Listeners will discover practical insights into scheduling payments, managing income frequencies, and planning for future expenses.

Samantha also addresses common financial challenges, such as "waiting for payday" anxiety and money-related arguments in relationships.

Whether you're single, part of a family, or managing a business, this episode is packed with actionable advice to make your money work for you.

Transcript Summaries

1. [1:12 - 2:00] Samantha discusses the emotional relief a spending plan provides, enabling people to manage their money without stress or overwhelm.
2. [2:05 - 3:26] Samantha explains how a spending plan helps align income with expenses, covering wants, needs, and unexpected costs like car repairs.
3. [4:30 - 5:50] The conversation dives into budgeting for special occasions, such as Christmas, to avoid financial strain during the festive season.
4. [6:10 - 7:20] Samantha shares practical strategies for managing varying income frequencies and aligning spending habits with financial goals.
5. [8:45 - 9:55] The duo explores how spending plans reduce conflicts over money in relationships by creating shared financial understanding.

Host and Producer: Ron Fielder

Web: podcastcity.com.au

Email: ron@podcastcity.com.au

Mobile: ‭0491 633 320‬

Co-Host: Samantha Boardman

Web: spendingmadeeasy.com.au

Email: hello@spendingmadeeasy.com.au

Mobile: 0404 468 525