Self-managed super funds now hold more than $1 trillion in assets, yet many Australians still aren't sure how they work or whether they could be an option worth considering.

On this episode of the Friends With Money podcast, Money's Tom Watson is joined by Marisa Broome, certified financial planner and principal of wealthadvice.com.au, to explain the mechanics, benefits and risks of self-managed super funds (SMSFs).

00:00 Introduction

01:45 What an SMSF is and how it differs from retail and industry funds

03:25 Why fees and asset allocation matter

05:00 Why people choose SMSFs

06:20 Who SMSFs are best suited to (and who should avoid them)

08:45 How much money you should have before starting an SMSF

10:00 The practical steps involved in setting up a fund

15:00 Why investors should do their homework before setting up an SMSF

16:15 Conclusion

#friendswithmoney #tomwatson #marisabroome #super #smsf

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Debt can help fund life's big purchases. But for some, it can become a major source of financial stress. So where should people start if they want to get on top of it?

On this episode of the Friends With Money podcast, Money's Tom Watson is joined by Deb Shroot, financial counsellor and Financial Counselling Australia sector advocate, to discuss prioritising debt, freeing up cash flow and working towards becoming debt free.

00:00 Introduction

02:00 Rising debt stress: mortgages, credit cards and utilities

03:00 First steps when debt feels overwhelming

04:30 How to prioritise multiple debts

07:00 The danger of the debt spiral

08:00 Common debt repayment mistakes and hardship options

09:00 Where to find extra money in a tight budget

12:00 Why you should seek help before reaching breaking point

14:00 Building healthy financial habits that last

15:00 Seeking trustworthy financial advice

16:05 Conclusion

#friendswithmoney #tomwatson #debshroot #debt

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Live where you want, buy where you can – that’s been the idea behind rentvesting. But are policy tweaks and market swings changing the equation?

On this episode of the Friends With Money podcast, Money’s Tom Watson is joined by Arjun Paliwal, founder and chief executive of InvestorKit, to discuss the latest rentvesting developments.

00:00 Introduction

02:43 Who is rentvesting used by?

04:15 The tax changes impacting rentvesting

06:02 Is rentvesting still worth it?

06:27 Sydney case study and numbers

12:04 The rentvesting decision checklist

15:34 How investors should adapt to policy changes

19:49 Final lessons for long-term investors

22:05 Conclusion

#friendswithmoney #tomwatson #arjunpaliwal #property #rentvesting

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The hidden costs that could sink your budget!

Question:

What are the real, often overlooked costs of owning a home in Australia and how can buyers avoid nasty surprises?

Short answer:

Owning a home is much more expensive than just paying the purchase price. According to Georgia Madden, new homeowners face steep mortgage interest, rising insurance premiums, energy bills, maintenance, council rates, and if buying an apartment, strata fees and surprise levies. Many underestimate costs like rebuilding insurance, ongoing repairs, and the impact of rate rises. Smart strategies include reviewing insurance annually, fixing small problems early, and checking apartment sinking funds before buying.

Why it matters:

For first-time buyers and anyone budgeting for a home, missing these hidden costs can lead to financial stress. Understanding the full picture means you can plan, save, and protect your investment rather than being caught out by “budget sinkholes.”

Sources:

• Vanessa Walker, Managing Editor, Money Magazine

• Georgia Madden, Home & Property Journalist

• Mortgage brokers, insurance experts, property managers

• Money magazine, June issue

Timestamps:

01:31 Mortgage breakdown: interest vs equity

02:46 Insurance: costs and common mistakes

03:59 Energy bills & efficiency tips

04:55 Solar: upfront costs and payback

05:45 Maintenance: how much to set aside

06:51 Hidden repair costs: plumbing, wiring, roofing

07:51 Council rates & water charges

08:37 Strata fees & apartment levies

09:47 Cautionary tales & advice for buyers

10:16 Wrap-up & where to find more info

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How to dodge bust-ups and actually talk cash with your partner

Question:

How can Australians have honest, productive conversations about money with partners or family without awkwardness, arguments, or avoidance?

Short answer:

Money conversations are often dodged due to fear of conflict, judgment, or not feeling confident. But avoiding them can make financial stress worse. According to Meray El-Khoury (MetLife Australia), the key is to start small: use gentle, time-bound openers (“Can we spend 15 minutes talking about money?”), focus on “we” not “you”, and break topics into manageable chunks - cashflow, debt, protection, retirement. Regular, calm check-ins help families plan for life’s curveballs and build financial resilience together.

Why it matters:

If you don’t talk about money, you risk missing warning signs, being unprepared for emergencies, and leaving one partner vulnerable. Open, positive conversations help families set goals, avoid nasty surprises, and take control of their financial future, instead of letting circumstances dictate outcomes.

Sources:

• Michelle Baltazar, editor-in-chief, Money Magazine

• Meray El-Khoury, chief insurance officer, MetLife Australia

• Money magazine podcast: Friends With Money, July 2026 episode

Timestamps:

00:02:04 Why we avoid money talks: fear, judgment, lack of confidence

00:04:50 How to start: gentle openers, time-bound, “we” language

00:06:45 Order of topics: cashflow, debt, protection, retirement

00:08:01 Protection: insurance, planning for the unexpected

00:13:34 Retirement: conversation starters and positive framing

00:12:02 Regular check-ins: monthly, calm, non-confrontational

00:15:22 Inclusivity: making sure both partners are involved

00:17:05 Incremental progress: clarity comes from talking

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More than four million Australian homes have gone solar, but for many others, the benefits have remained out of reach. The Solar Sharer Offer could change that.

On this episode of the Friends With Money podcast, Money’s Tom Watson is joined by Brian Spak, general manager of advocacy and policy at Energy Consumers Australia, to unpack the new Solar Sharer Offer and who will benefit from free electricity.

00:00 Introduction

01:29 How the Solar Sharer Offer works

03:54 Which households are eligible for Solar Sharer?

06:07 How to make the most of free midday electricity

07:56 How to sign up for Solar Sharer

08:43 What kind of savings can households expect?

10:17 Why caution and bill monitoring could pay off

11:52 Conclusion

#friendswithmoney #tomwatson #brianspak #energy #solarsharer

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The end of the financial year may be just around the corner, but it’s not too late to make some superannuation moves that could benefit your balance.

On this episode of the Friends With Money podcast, Money’s Tom Watson is joined by Greg Elias, senior private client adviser at UniSuper, to discuss the steps you can take before June 30 and the upcoming super changes worth knowing about.

01:44 Making a concessional contribution

05:35 Contribution caps explained

06:18 The benefits of salary sacrificing

09:00 Division 296: who it affects and what to know

12:01 What are the payday super changes?

15:03 Market volatility and superannuation

18:40 Common EOFY mistakes

20:38 Conclusion

#friendswithmoney #tomwatson #gregelias #superannuation #eofy

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REITs explained - A property expert explains the next investment hotspots

This week on the Friends With Money podcast, Money's editor-in -chief Michelle Baltazar speaks with Justin Blaess, principal and portfolio manager at REIT specialist Quay Global Investors, to explain real estate investment trusts (REITs) and how investors can earn investment income through them.

They discuss REITs as listed businesses that owns buildings and collect rent, how the sector has evolved since the late 1990s and the GFC, and new opportunities beyond traditional retail, office, and industrial.

01:05 What Is a REIT?

01:48 How REIT investing evolved

03:29 Investment hotspots: data centres, storage and senior living

05:59 Expected returns basics

09:34 Interest rates myth

12:43 How to start investing

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