This time of year can bring about a lot of additional stress when it comes to festive finances, especially this year with the cost of living crisis that many of us are experiencing.

We've teamed up with our finance in residence and Cuppa course host, Betsy Westcott to bring you a quick guide on mastering holiday budgeting this festive season.

Please share this with anyone who you think may benefit from watching it. 🙏

PS: Need more support? Check out our 'Dealing with Financial Stress' self-study course co-hosted by David Koch and Betsy, which is available for as little as $99 for 3 months access. For more information, click here: https://cuppa.tv/pages/dealing-with-financial-stress

#dealingwithfinancialstress #financialstress #financeandeconomy #financegoals #costoflivingcrisis #costofliving

New to leadership? Your 2024 Kickstart Guide to Success

As a new leader heading into 2024, you’re probably asking yourself, "How do I gear up for success?" Fear not! We’ve got you covered with a robust game plan tailored to make this year your leadership playground.

1) Harnessing the Power of Self-Belief

As the confetti settles, you might find that little voice of doubt trying to dull your sparkle. Here’s your first assignment for 2024: kick that doubt to the curb. Building confidence is your mission, and yes, it’s an inside job.

Picture this: What does a confident leader look like to you? Got that image? Great. Now, what do they have that you want to embody? Harness those traits, and let them become part of your leadership DNA.

It's all about playing to your strengths and converting your uncertainties into opportunities. When you're faced with a challenge, flip the script and ask, "What can I learn here?" This mindset isn't just a game-changer; it’s your rite of passage as a leader.

2) Creating Your Circle of Trust

Imagine starting 2024 with a support system so robust that nothing can shake you. That's the goal. Forge connections with individuals whose leadership qualities make you want to take notes. Mentorship is a two-way street, and every relationship is a learning experience.

Take a moment and think about the people you know. Who inspires you? Reach out. Networking isn’t just about adding contacts; it’s about building relationships that build you.

And remember, you're not just cultivating your own growth—you're also there to energize your team. Your mantra for the year? "Empower and be empowered." That’s the kind of synergy that can move mountains.

3) Sharpening Your Leadership Toolkit

With each passing month in 2024, focus on honing three crucial leadership capabilities: strategic, relational, and cultural. These are the pillars upon which your leadership temple stands.

Can you effectively communicate your vision and align it with your team's actions? That’s strategic prowess. Are you able to foster strong one-on-one relationships that enable your team to thrive? That's relational mastery. And, can you cultivate a culture that resonates with positivity and productivity? That's cultural finesse.

Take every opportunity to learn and grow in these areas. Workshops, books, podcasts, and yes, real-world experience—these are your bricks and mortar.

The 2024 Leadership Launchpad

So you’re fired up and ready to go, but you might wonder where to begin. Don’t worry, Cuppa and Shane Hatton have done some of the heavy liftings for you. They’ve pooled their wisdom into the “So Now You're A Leader” self-serve course, laying down the foundations for leadership success.

Find out more in this link: https://cuppa.tv/pages/so-now-youre-a-leader

As we stand at the threshold of 2024, this course is the launchpad you need. It’s packed with insights that will not only set the tone for your year but also for your entire leadership journey.

Finally, as you stand on the brink of this promising year, ask yourself, "Am I ready to take the leap?" Because 2024 is not just another year; it’s your canvas. And with the right skills, mindset, and resources, you're going to paint a masterpiece.

Let’s raise a toast to your leadership success story in 2024. It’s time to lead, inspire, and transform. Ready, set, lead! 🚀

One more thing

Want to take the next step before purchasing the course? Check out the below FREE conversation we had with Shane on what holds early stage leaders back. 

Since the referendum, Cuppa has been inundated with requests to help people heal and to find out what more can be done. We decided to create a conversational space with Indigenous leader and author of The Dreaming Path, Paul Callaghan, to sit with us and create a place of understanding and hope. 

You can watch the replay here or click the video below

During this moving conversation we reflected on the emotion that now exists, the gap to reconciliation, how to galavanise together, what to focus on now and how we can heal in this process. 

Paul also shared a number of different ways that individuals like you can be a part of the healing. Which one of the below will you do today?

1. Understand our story and research history

2. Learn about Aboriginal arts and artists to hear there story

3. Do research 

4. Watch Indigenous movies and television

5. Read books

6. Connect with local community

7. Call out racism

8. Educate others in your social circles 

9. Build relationships with First Nations people 

10. Create culturally safer places

11. Support Aboriginal businesses

12. Acknowledge and care for country

13. Make reconciliation everyone’s business

14. Ask Aboriginal people/Elders in

15. Support Aboriginal fund raisers

16. Empower Aboriginal voices

17. Volunteer

18. Celebrate at home with purchases of genuine Aboriginal artwork and other merchandise

19. Attend community events

20. Stay with us at Cuppa 

There may have been a NO but lets focus on NOW WHAT 

Cuppa Crew

Have you ever noticed how certain stories stick with you, long after you've heard them? That's the power of storytelling. Let's dive into a conversation  with personal and team branding expert Nicole Hatherly had on Cuppa, as she unravels the magic behind storytelling in branding.

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The Unforgettable Nature of Stories in Personal Branding

Nicole Hatherly made a compelling point about stories and personal branding: while data and hard facts might fade from our memory, stories tend to linger. Think about it – you might not remember the exact details of someone's resume, but you'll certainly remember a gripping tale from their past.

By framing our life experiences and accomplishments within a narrative, we not only make our personal brands stickier, but also more human. Nicole drove home the point that these shared snippets of our lives, these personal stories, help us genuinely connect with others.

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Storytelling: The Heartbeat of Team Branding

Shifting gears a bit, Nicole and Cuppa host Cookie touched on a significant distinction – that between personal and team branding. While both share the core principle of establishing a clear identity, team branding is about collective stories, shared values, and common goals.

And guess what’s right at the center? Yep, storytelling. By weaving together individual stories, teams can outline their shared journey. This approach not only showcases the team's values and mission but also strengthens bonds between team members, making them feel they're part of something bigger.

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Personal Meets Team: The Branding Intersection

Nicole was keen to underline an essential insight – personal and team branding, though distinct, are deeply interwoven. It's not about shedding your individual identity when you're part of a team. Instead, it's about aligning your personal beliefs and passions with the collective ethos of the team, creating a unique blend that stands out.

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How Stories Forge Trust and Commitment

Now, this is where things get intriguing. Nicole introduced this idea of a trust model she employs with global teams. It revolves around laying out shared values, pinpointing growth areas, and celebrating strengths. When stories wrap around these areas, they form a binding narrative that aligns everyone.

With trust as the bedrock, accountability becomes the watchdog of a team's brand. Leaders, Nicole suggests, need to create an environment where open conversations happen, ensuring that the brand's essence is upheld by all.

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Rooted in Stories: The Preservation of Culture

Adding another layer to the storytelling tapestry, Nicole drew attention to the First Nations people. Their rich tapestry of stories, passed down over generations, is a testament to the power of oral traditions. It's a reminder that stories are more than mere branding tools; they're the very essence of our cultural heritage.

In today's digital age, where it's easy to feel disconnected, stories serve as a bridge, connecting us to our roots and to each other.

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To Wrap It Up...

In the vast realm of branding, storytelling is the magic wand. Whether you're an individual looking to leave an indelible mark or a team aiming to etch a lasting legacy, stories are your allies. They humanise, connect, and resonate. As we navigate a tech-driven world, let's not forget the stories that anchor us to our essence. So, next time you think of branding, remember – it's all in the story.

WHAT NEXT: 

• Book in Cuppa and Nicole Hatherly for a private session on personal or team branding: Click here to request information

• Join the Cuppa community and get access to this show: Click here

(5 minute read)

We're well aware at Cuppa that many of you are facing financial hurdles in the wake of soaring interest rates. That's why today, we've invited Cuppa's very own financial coach and expert, Betsy Westcott, to shed light on the current financial landscape and share invaluable steps to navigate it successfully

Since the start of 2023 over 730,000 fixed rate home loans have expired, according to analysis from Ratecity.com.au, subjecting borrowers to an unsettling transition into new variable rates. A further 150,000 home loans are set to expire before the end of the year, according to RBA data. The Reserve Bank of Australia's aggressive 12 interest rate hikes since May 2022 have pushed the cash rate from a mere 0.1% to a staggering 4.1%, marking the sharpest and swiftest rate rise in nearly three decades. Consequently, what was once a comfortable home loan rate commencing with a modest 2 is now poised to leap to a 6 or higher for mortgage holders with an expiring fixed rate. If you have a mortgage of $1,000,000 this abrupt adjustment translates into a daunting $2,229/month in extra repayments - that's $26,748 a year. Such a rapid and substantial rise in home loan repayments signals significant strain being placed on household budgets. 

Data from Mozo Money indicates that more than 39% of all mortgage holders are spending in excess of 30% of their household income on their repayments. This is worrying as mortgage repayments in excess of 30% of total household income typically indicate mortgage stress. Unsurprisingly, the National Debt Helpline which is a resource available to help those in need access free financial counseling is receiving an uptick in calls. What’s most remarkable is that many individuals contacting the National Debt Helpline are doing so for the first time in their lives and would be considered affluent with incomes in excess of six figures.

While the inevitable expiration of fixed-rate loans looms large, there are proactive steps borrowers can take to mitigate the impact of higher interest rates and secure the best possible rate. Here’s five proactive steps you can take to minimise mortgage pain:

Reach out to your home lender

Before your fixed rate expires, find out what interest rate you can expect to roll onto and what monthly repayment that equates to. Get into the habit of paying that new repayment by beginning the equivalent of that payment now so it’s not such a shock when it happens. Not only will it get you used to paying a higher repayment but it will also build up your cash buffer.

Negotiate a better rate

Mortgage Broker Sandy Kelso from Kelso Finance Mortgage Brokers, said ‘You should absolutely be negotiating your variable rate home loan with your bank. Don’t take their first offer. I’m seeing very few clients taking new fixed rates as the fixed rates on offer are still too high. Plus many of them expect rates to go down next year which is in line with many economists’ forecasts’. To negotiate a better deal you first need to do some research into what variable rates are on offer for similar home loans. You can simply jump on a comparison website like Compare the Market, Finder or Canstar or talk to a mortgage broker. If you find a lower rate being offered for a similar loan type to yours then take it to your bank and ask them to match it.

Consider Refinancing to a new lender

If your existing bank isn’t coming to the table with a great rate then it’s time to switch to an alternative lender. There’s lots of competition for new customers and many lenders are offering incentives like cash backs to win your business. It can take a few months to complete a refinance from beginning to end. A good mortgage broker can be your ally in the process to help you navigate which financial institution has the best deal for you and assist you in organising all your paperwork to make the process as seamless as possible.

Reprioritise your spending where possible

The rise in the cost of living has impacted everyone’s day to day expenses. It’s imperative that you review you current spending to understand where your money is going and reprioritise any spending that is unnecessary or not giving you value. Look at things like bills that you can switch to a better deal on, identify any unused subscriptions and cancel them or perhaps you  can make more budget friendly choices when it comes to dining out or transport?

Consider how you can reduce your debt ahead of schedule

One of the quickest ways to reduce the cost of your mortgage is by paying it off fast. Cassie, Sydney said ‘We’re looking to sell our investment property in Canberra to reduce our overall debt position. We have our second baby on the way and we just need to control our cashflow. We’re hoping having more equity in our home will also give us better negotiating power with our bank too”. If you do have other investment assets that can be sold to reduce your debt then consider if this is appropriate for you. If you’re not sure, seek advice from a suitably qualified professional like a financial planner. If you have excess income or come into any windfalls consider how you can use this to pay down or contribute it to an offset account as a way to reduce your interest repayments and debt position.

Times are undeniably tough for homeowners facing soaring interest rates amidst other cost of living pressures. However, armed with knowledge and a proactive approach, borrowers can mitigate some of the pain. By reaching out to lenders, negotiating for better rates, assessing the option to refinance, reprioritising spending and finding ways to minimise debt, individuals can regain control of their financial wellbeing. As the RBA continues to bring inflationary pressures down and interest rates continue to evolve, adaptability and informed decision - making will be key. By taking these steps, homeowners can not only weather the storm but emerge from it with stronger financial foundations than before.

Did you miss our recent FREE conversation in which David Koch and Betsy Westcott discussed all aspects of DEALING WITH FINANCIAL STRESS? Watch here

What a Cuppa ☕ with celebrated humanitarian Peter Baines OAM who shared remarkable stories and unique insights about leadership in challenging times.

During this conversation 💬 Peter draws on more than 20 years of experience in leading others through crises and disasters. 

Here are some of the key takeaways you will learn👍: 

• What the one thing leaders of today need to focus on 

• What holds back leaders in business today from being successful in their roles

• Embracing fear and failure 

• Leading through highly emotional moments 

• Supporting early stage leaders to be successful 

• Why giving and purpose are your superpower 

Feel free to share this conversation with others