2020, Climate and Your Money

Author: Vanessa Stoykov
Category: Manage Finances

My first blog back for 2020 – after an eventful holiday period, mainly dominated by bushfires.

Yes, Australia is still burning. The crisis is far from over. But to be honest, there is not too much left to burn. In fact, I just read that 80% of the Blue Mountains, my home, has been burned. What started in November (the first of several evacuations!) to the horror that continued in January, the fires have forever changed the way we all see our future in this country. It is shocking and we are all still coming to terms with what it means. Stories are starting to emerge of people urgently waiting for funding, and there is no solid plan in place for rebuilds yet.

So what does it mean for us as Australians, and what does the future hold for our children? While nothing is clear, there are a few things we can count on. The financial impact on our country of climate change will be huge – and affect all of us.

So how can we prepare? Rather than just point out the doom and gloom (as the daily press does a great job of this), I would like to offer some ideas on what we can all be doing right now to be proactive in preparing for the changing environment.

1. Lean on your super fund.

Most not-for-profit funds offer free or low cost financial advice. If you are worried about your financial situation, contact your super fund and ask for help. This will help give you peace of mind about your financial future. If you can also spare even $10 a week more to go into your super, do it. Your future is that little bit more secure if you can spare something now to help.

2. Pivot.

Do you own your business? How can you change your offering to somehow cater to what’s happening? Can you build a new offering? Change your target market? For example, my husband is a horticulture consultant. He is now looking at ways to help people change their gardens – losing water thirsty plants and putting in natives and drought resistant species. If you don’t own your business, and work for someone else, how can you get ready for changing markets in what you do? The sooner you start thinking of it, the more secure your income stream will be.

3. Educate your children and get them thinking early.

Climate change may likely the biggest threat most of our kids will face. How can they contribute to making it better? Can they choose careers that will be of benefit in the new world? Our old way of thinking will not cut it in the future, so don’t get them thinking like we do. Rather, aim to expose them to new ideas and the latest in tech and science.

4. Stay positive.

While we are facing a real crisis, and it can be hard to see the bright side. It’s important to keep thinking of all the good things happening in the world. Mental health is critical to surviving and thriving in this new world order.

While nobody has all the answers, it is so important to keep moving forward and to do everything we can to build a future world we all want to live in. Australians are amongst the most resilient people on earth – we can and will overcome our challenges together.

Until next time,

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Each day I wake up excited to inspire everyday people to open up and take control of their money, regardless of their history, goals, or savings amount. About Vanessa >>

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Authors

Vanessa Stoykov

Vanessa has been passionate about writing and storytelling since her days of hiding under the doona with her torch to read after bedtime.
Kathy Skantzos

Kathy is a yoga-loving world traveller who also happens to moonlight as a business journalist and writer. She was the finance editor of news.com.au and the Managing Editor of CEO Magazine (Asia) before joining Vanessa and the evo squad.
Shayne Sommer

Shayne is second dan black belt in karate, and a budding romance writer with a difference. Why? Because she writes romance stories that always have a money lesson.
Antoinette Colbran

Specialising in stories for 50+ women, Antoinette draws from her own experiences to help other women avoid the pitfalls and see the benefits of understanding their money situation.
Michael Crooks

Michael Crooks is a more than 20 year writer and documentary maker who has worked with Time Inc and the BBC, who wants to expose the truth from real victims of financial crime to help others avoid their mistakes.
Kim Payne

Kim Payne has spent the past three decades as a speaker, trainer, business coach, and consultant in financial services. She has worked with and transformed hundreds of brilliant, educated, high achievers who are chronically under-living.
Rebecca Pritchard

Rebecca Pritchard is on a mission to help men and women achieve equality when growing a family.
Antony Perring

Ant is a writer, designer and business builder with a love of food, design and good living. He writes on food and money in an easy to do way.
Julie Hyde

Julie Hyde is a leader of leaders. A disruptor and a powerful people enabler who empowers leaders to make big things happen.
Joshua Pennell

As a Dad to four kids and a business owner, Josh is passionate about family and finances and is known as The Family Finance Guy.
Sid Lal

Sid is a serial entrepreneur who set up his first business when he was still in University. Since 2009 he has been heading Bruce Clay, first in India & more recently in Australia.
Lou Johnson

Lou Johnson believes in the power of sharing stories to build empathy, understanding and connection. Growing up surrounded by books and storytelling, alongside her drive to make a difference led her to a highly successful career in book publishing.
David Rae

Dave is a CERTIFIED FINANCIAL PLANNER® professional and has been a financial adviser since 2003. He works with a range of clients and has a strong focus on ethical and sustainable investing.
Natallia Smith

Natallia specializes in assisting pre-retiree single women—whether they are never married, widowed, separated, or divorced—understanding deeply the importance of financial stability during life's pivotal moments such as separation, divorce, retirement, and the loss of a loved one.
Mark Hoy

With over 15 years of experience in financial services, Mark established Wollemi Wealth Management in 2013. His business is built almost entirely on referrals and word of mouth — a testament to the trust, integrity, and long-term relationships he forms with his clients.
Derek Gascoigne

Derek Gascoigne is the State Manager for UniSuper Advice in Victoria and Tasmania. Derek has been with UniSuper for over 15 years, and his career in superannuation and financial services spans 27 years and counting.
Annika Bradley

Annika Bradley is Head of Advice Strategy, Research & Technical at UniSuper. She brings over 20 years of experience across investments and wealth management in both the public and private sectors.
Wayne Leggett

Wayne has been a recipient of numerous industry awards and was one of the first to qualify as a Certified Financial Planner (CFP). He has been heavily involved in industry affairs at the highest level, including serving as national president of the Association of Financial Advisers (now FAAA).
Conrad Francis

Conrad Francis is the Founding Director of Inspired Money, a Perth-based financial coaching and financial planning, mortgage broking and money coaching firm he established in 2011.
Andrew Beks

Andrew Beks is a Chartered Accountant and the founder of Simplified Business and Accounting.