Friends With Money #189: Manage your money - 5 proven methods

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Three in four Australians rely on a specific method to manage their money, so which one could be the right fit for you?

This week on the Friends With Money podcast, Money's Tom Watson is joined by Andrew Morrison, chief product and growth officer at Ubank, to talk about money management and five popular budgeting methods. They discuss:

  • The importance of budgeting for financial health
  • Five of the most popular budgeting methods
  • The 50/30/20 method, envelope system and zero-based budgeting
  • Automating the savings and budgeting process
  • Quickfire money management tips

Andrew Morrison

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Friends With Money podcast FAQ

What is the Friends With Money podcast?

Friends With Money is a weekly personal finance podcast by Money magazine, offering expert insights on investing, budgeting, superannuation, property, and other money strategies for everyday Australians.

Where can I listen to the podcast?

You can listen on Apple Podcasts, Spotify, or YouTube (with closed captions available).

Who hosts Friends With Money?

Episodes are hosted by Vanessa Walker and Tom Watson from Money magazine, featuring expert guests and real conversations about money.

Is the podcast suitable for beginners?

Yes! It's designed to be accessible for beginners while still offering valuable insights for seasoned investors.

What topics does the podcast cover?

The Friends With Money podcast covers topics including banking, property, budgeting, superannuation, investing, saving, insurance, employment, travel and more.

How often are new episodes released?

New episodes are released weekly, so you can stay up to date with the latest financial tips and trends.

Can I watch episodes with captions?

Yes, full episodes with closed captions are available on YouTube.

Why subscribe to the Friends With Money podcast?

Boost your financial literacy anytime, anywhere with the Friends With Money podcast from Money magazine. Whether you're commuting, working out, or relaxing at home, this weekly podcast makes it easy to grow your money knowledge on the go.

Each episode dives into real conversations about money - how it's earned, shared, saved, and grown - with tips and insights that make finance simple and relatable. Perfect for beginners and seasoned investors alike, it's your go-to guide for building better financial habits.

Subscribe to the Friends With Money podcast today and start learning when it suits you.

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Tom Watson is a senior journalist at Money magazine, and one of the hosts of the Friends With Money podcast. He's previously worked as a journalist covering everything from property and consumer banking to financial technology. Tom has a Bachelor of Communication (Journalism) from the University of Technology, Sydney. Connect with Tom Watson on LinkedIn.

Andrew Morrison is chief product and growth officer at Ubank. Prior to this, he worked at the Commonwealth Bank where he served as head of customer and product for TymeBank South Africa. Andrew has completed a CA (Chartered Accountants Australia and New Zealand) and holds a commerce degree from Western Sydney University in which he focused on accounting, economics and finance.
Comments
Kathleen Wilcox
February 7, 2025 9.18am

As a 90 year old I loved your today's podcast. Wonderful tips. A tip which is working with one of my grandsons who is not a good saver is that when paid his fortnightly salary his parents and I equal the amount that he puts in a bank account in the joint names of 3 of us so he cannot take money from this account unless his parents or I agree(which we don't and will not. He still lives at home which is a great help to him. So far the scheme is working and he is very pleased with himself and us. Kathie Wilcox

Money magazine
Verified
February 7, 2025 9.29am

That's a great tip, Kathie, thanks for sharing!

- Money team