Today’s email is sponsored by Global X

What we’re chatting about this week…

Our attempt to make $100 in April…

ICYMI Bryce and Alec are looking to find or earn an extra $100 for their portfolio each month. Why? If you invest $100 each month and earn the market average return for 40 years, that’ll compound into $350 000.

If you listened to last month’s episode, you’ll know that our colleague Em did the lion’s share of work for our team and earned $600 renting out her dresses online. In one month! Bryce had some hair brained plot to sell umbrellas - and Alec decided to pack his lunch for an entire month.

Our colleague Simon joins us in the studio to share what simple item he rents out to earn a little bit of cash on the side, and we hear from the community as well! Got a good cash saving tip? Tell us your ideas at equitymates.com. 

Maddy and Sophie from You’re In Good Company have been talking to some amazing founders over the past two months, who’ve been reflecting on the lessons they learned building some amazing companies.

Today, it’s Maddy and Sophie’s turn! They share the reason they started You’re In Good Company and talk about their proudest moments, and some of the hardest times they’ve had running this podcast over the past two years.

It’s a really honest and vulnerable chat. We hope you love it!

5 small changes to save more money

Sometimes it’s daunting to make huge changes, and then we put off doing anything. So here are some simple adjustments that might add up, and help you take a huge step forward in your financial journey.
Here’s 5 of our best ideas:

1. Find quick wins. Print off your bank or credit card statement and go through it. We know - a bit scary! Highlight and identify anything that isn’t essential. It doesn’t mean it needs to go, it’ll just give you a good idea of what could go.

2. Swap to cheaper or free: Paying for a fitness app you’re not using? Investigate a local running group, or one of the many Youtube channels (Heather Robertson has 100s of workouts). Ride your bike or walk to work instead of driving, cancel Netflix for a couple of months and use SBS on demand and ABC iview. Visit your local library instead of a bookshop!

3. Reduce your grocery bills. Plan, plan, plan. If you hate doing shopping lists - ask ChatGPT. Seriously. We did, and it actually put a decent list together! Otherwise, this $50 list is a pretty good start - it’s a few years old, but has a lot of ideas.

4. Automate your savings. Taking the thinking out of transferring part of your pay into a savings plan will help. If you don’t see it, you won’t be tempted to spend it! You can even ask your employer to do this if you really want. Make it a small, manageable amount. Even just $10 a week! Consistency is the most important thing.

5. Pay off your debt sooner. Bryce actually did this last month so he’d free up some cash flow. This could be hard, but if you can, make those extra repayments towards any credit card debt you have. It might save you thousands in interest!