Money School

Emily is one of our favourite students, having paid off her CC debt after taking our Get Out Of Debt Fast course.

Awesome that she's using the book to go the next mile too :)

'What a wonderful book!

I wish I'd read this 20 years ago....

Thanks Lacey and Fran for empowering your readers to gain control of their finances and financial future!

5 stars!! And if I wasn't saving money I'd buy one for all my friends and family 😂❤👍🏻'

Want to get the lowdown on Money School's favourite resources that are cheap or even free to access?

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FinTok (that's financial TikTok) trends.

Love 'em or loathe 'em, they're out there and millions of people watch and use 'em.

Rachael Gavin at Nine.com.au Honey spoke to a bunch of finance folks to find out which ones we should treat with caution, and which one (yes, only one apparently) was worth following. Lacey was delighted to be included in the roundup.

The list of trends includes:
💰 Licensed vs unlicensed general advice/tips from finfluencers
💰 Loud budgeting
💰 Girl math
💰 Cash stuffing
💰 YOLO consumption culture
💰 FOMO

Which one do you reckon was the winner that most of the group surveyed approved? Cast your votes in the comments!

🔗 Read the article in full here: https://bit.ly/3VZ7GVJ

Q. How should women set up finances with a partner to protect themselves if there is a break up?

A. There's no rules about how to set up finances in a relationship, so you can choose what works for you and your partner.

In general, I'd suggest:

- actively deciding if you need a joint account. This is more of a convenience than a 'must have' these days. I know couples who's been married for decades, raised kids into adulthood and never had a joint account. It's up to you. Here's some thoughts on that: https://bit.ly/4tBc3Fx

- even if you do get a joint account, consider keeping individual accounts to which each partner is the only signatory. Some money of your own that doesn't have to be approved for spending by the other partner can be a recipe for less stress, and in the worst cases it's much-needed financial protection to escape abuse.

- consider a binding financial agreement (BFA), which can be enacted any time in a relationship. Get a family lawyer to prepare one. It outlines how you'll split assets etc in the event of a separation.

- remember: a partner's not a plan. Your ability to earn an income and your assets are the best chance you have at independence. Think very carefully before giving up a career or letting them put joint assets in their name only.

- do not accept 'if you loved me, you'd sign this' or any other such guilt-trip to get you to do something you don't understand. A true partner would want you to feel comfortable, and would give you the time and space to fully understand what's happening. Do not outsource your due diligence to your partner.

- remember that a Plan B is not saying Plan A will fail. Being well protected and not needing that protection because you remain together happily is better than the inverse.

- consult a family lawyer if you're unsure. A few hundred dollars spent on a consult could save you hundreds of thousands and a whole lot of heartache.

*** This question came up in the most recent seminar. It's the fourth time Lacey has delivered the 'Securing your financial future' session for Future Women and, as always, the participant questions were fabulous! Thanks to all who attended.

Some people will tell you that you must share everything for a marriage to be successful, including all money and investments.

I'm calling BS on that idea.

Your relationship is not doomed to failure if you decide to keep your cash separate.

Likewise, you may find it works best to combine some cash and assets, but not others.

But please note: joint accounts are a CHOICE, not a given.

If you're wondering whether a joint account is right for you and your partner, I wrote an article on to help you decide: https://www.kidspot.com.au/lifestyle/money/do-you-and-your-partner-need-a-joint-bank-account/news-story/174896bc09aa9b7a53a9969a94331c2d

What works for you and your partner? Let me know in the comments - I'm always keen to hear different approaches!

Need an insight into teenage investing?

Lacey shares her story of buying her first property in 2001 at
19 years old, and thoughts for today’s keen teens and what it might look like today.

🔗 Read it now: https://bit.ly/4bp3W8G

Love it when we make personal finance less scary, thanks Erica!

'A great read - one that makes the often scary world of managing finances way less scary, especially for one as financially challenged as myself.

Easy to digest, practical examples.

Not just a great read but a very smart investment.

Do yourself a favour and grab a copy!'

Breaking up is never easy, especially when it comes to sorting out the finances. It's a topic we often avoid, but being financially prepared can make a huge difference.

In a powerful conversation with Philip Clark for - Sydney, Lacey discusses why budgeting before a relationship ends can help you manage your life better.

🎧 Listen to the full segment or jump to the second-hour now https://ab.co/43x0Jzv