Episode Details

Blog post of this episode - Tap here!

Resources (courtesy of Alex Bechara):
https://moneysmart.gov.au/financial-advice/choosing-a-financial-adviser

https://www.fairtrading.nsw.gov.au/buying-products-and-services/buying-services/banking-and-finance/investment-and-financial-advice

https://www.service.nsw.gov.au/business/business-concierge-service

https://www.service.nsw.gov.au/transaction/find-a-financial-counsellor

 https://ndh.org.au/financial-counselling/find-a-financial-counsellor/

 https://www.ato.gov.au/businesses-and-organisations/preparing-lodging-and-paying/record-keeping-for-business/setting-up-and-managing-records/manage-your-business-cash-flow

Key Takeaways:

• Career Transition: Alex Bechara shares his experience of transitioning from a career in computer science to accounting, highlighting the importance of finding a fulfilling career.
• Economic Climate: Current financial pressures are causing significant anxiety for families, and economic downturns have pushed more people to seek financial help.
• Financial Education: Understanding personal finances, including income and expenses, is critical. Start by asking questions and seeking financial advice if needed.
• Emotional Impacts: Financial stress can strain family dynamics and relationships. It is crucial to have open conversations and seek support from loved ones and professionals.
• Community and Support: Utilizing community resources and support systems, like those offered by Hill Sanctuary House, can help alleviate financial stress and anxiety.

Notable Quotes:

1. "It's very hard to change and adapt...we do need to have the ability to assess and understand what can I do and what I can't do anymore." - Alex Bechara
2. "There is a huge misconception about who we are...living within our means is definitely a great way to start." - Alex Bechara
3. "Financial advice is a really good place to start, but it's also not the only tool out there...being educated enough to understand your current personal situation." - Alex Bechara
4. "Debt is a natural and normal thing now for a society. As long as we can keep up the payments, we should always bring our focus back to the family." - Eddie Reaich

You and your mental health is important to us. If this episode brought up any heavy emotions, please know you do not need to carry them alone. Reach out to Lifeline, Beyond Blue, or the counselling service at Hills Sanctuary house at hshl.org.au 

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