Money money money: budgeting for a house, smashed avo & everything in between
Let’s jump into today’s podcast where we’ll be chatting about all the green stuff – and no, we don’t mean broccoli and the often-controversial kale. We’re here to chat money with Fernwood Fitness Finance Manager Donna Hudec. Donna’s interest in finance started early on, inspired by a high school teacher, and led to a prosperous career.
Money may be a bit of a taboo subject for some, but as our guest on today’s episode of Women Supporting Women tells us, it’s better to always be in the know when it comes to our bank account. Donna says when it comes to managing everyday finances, the biggest mistake people often make is not having a budget.
Whether it’s a handwritten list, or a detailed spreadsheet, it’s essential to know what’s coming in versus what’s going out. Additional ‘luxury’ items can often be missed and can quickly add up. So before you head out for another smashed avo brunch, buy that pair of those super cute sports leggings, or invest in a new scented soy candle, check whether those items have been accounted for in the budget.
She also touches on the considerations for more expensive purchases, such as a car or a house mortgage, and identifying hidden fees, the value of research, and why you should plan for a rainy day.
Similar principles apply when it comes to business. While we all like to remain optimistic, especially when starting a new business or project, it’s so important to understand the potential negative outcomes so we can plan to avoid them. We know finances can be the cause of a great deal of stress for some people, especially when business ventures don’t quite go to plan. To avoid a financial misstep, Donna chats through the importance of financial planning in business and engaging the support of a financial professional, particularly when you’re just starting out.
Keep listening to learn some tips and tricks – none of that ‘get rich quick’ talk here – just solid, insightful knowledge about managing finances from a woman who does it everyday! You can also listen via Spotify or Apple Podcasts, by searching 'Women Supporting Women'.