Where’s My Money? Season 7, Episode 3
Where’s My Money? is back for Season 7 with a fresh new look and more money content to help Kiwis work through their finances and make considered moves towards financial freedom.
enable.me partners with rova to bring this podcast to life and stimulate the conversation about finances with everyday Kiwis. Where’s My Money? follows the story of Reagan – a man chasing the Kiwi Dream but feeling stuck living month-to-month – and his discussions with the experts about what he may be doing wrong and how to fix it.
One man. One million dollars of debt. One podcast to find a way out.
In this episode of Where’s My Money?, Reagan catches up with his ex-colleague, comedian and radio star Guy Williams. They discuss the financial ups and downs of working in the creative industries, before enable.me financial coach Shelley Palman returns to the podcast to answer another listener question in the Hotline segment.
Guy Williams shares the realities of being a comedian in New Zealand
First up in the episode, Guy Williams sat on the Where’s My Money? couch to talk about what money was like when he was growing up, and the way his perceptions of finances have changed as he’s experienced more of life.
In their conversation, the pair covered:
- Guy’s Dad owning a McDonald’s franchise when he was growing up
- His first job (at his Dad’s McDonald’s location) through to the work he does now
- The university experience in New Zealand
- Shifting ambitions as Guy got older (from sports to comedy)
- How Seven Days reshaped the New Zealand comedy landscape
- Working as a presenter and comedian in radio and television
- Job insecurity that often comes with creative careers
- Apartment ownership and managing finances
Where’s My Money? Hotline with enable.me financial coach Shelley Palman
Each week in Season 7 of the podcast, Shelley answers a listener’s question as part of the Where’s My Money? Hotline segment.
Both Reagan and Shelley express their condolences, before Shelley shares something that might surprise some people: “often I say to people who do come into money, just do book the holiday. You know, if you need it or replace the car, now is a good time. You’ve had some cash in.”
Then once you’ve had some fun spending and gotten that out of your system, it’s time to look towards your long-term goals and get a plan in place to reach them faster with the money you’ve received.
Shelley says that when she works with clients in this situation, they often want to “honour the memory of the loved one,” so she “always [tries] to make sure she put[s] it to good use.”
An example she gives is using it to pay down debt such as a mortgage, or to “invest” for their “children’s future.” Ultimately, no matter the number, the basics remain the same.
As Shelley acknowledges, there can be different amounts of cash in an inheritance lump sum and things you can put it towards depending on those amounts.
She says, “for some people it’s 10 grand, you know, for others it’s a million or 10 million,” and those amounts open up different avenues. “For the lucky ones, you know, it can be life changing.”
She also raises the point that if you’re in a relationship, it’s important to get timely legal advice; how your lump sum is impacted and who has ownership of the cash, and anything you’ve bought with it.
If you’re in a similar position to this listener, whether you’ve inherited a lump sum from a loved one or have acquired one through another avenue (for example, a business sale or a prize win), consider booking a consultation with an enable.me coach (costs apply). They’ll help you diagnose your starting point, create goals you’ll feel motivated to work towards, and a strategic financial plan that can help you achieve them.
Watch Guy’s interview and the full listener Hotline segment below:
Disclaimer: The Where’s My Money? podcast and the information shared by host Reagan White and his guests does not constitute individual financial advice. If you’re interested in receiving financial advice, you can book a consultation with an enable.me coach. Costs apply.
