Podcast Summary: Style-ish – "You gave us the rules that changed your money mindset"
Host: Shameless Media
Episode Date: November 4, 2025
Hosts: Madison Sullivan Thorpe, Joanna Fleming, Rhiannon Joyce
Episode Overview
This episode dives deep into the rules, hacks, and mindset shifts that have helped listeners—and the hosts themselves—improve their approach to money. Focused on real-life, listener-sourced advice, the discussion explores the practical, the psychological, and the sometimes emotional aspects of managing finances as women. With a conversational and relatable tone, the hosts share stats from their audience, candidly discuss their own habits and upbringings, and offer a blend of humour and vulnerability that makes the subject of money feel accessible rather than intimidating.
Key Discussion Points and Insights
1. The Shame and Taboo Around Money for Women
- The episode calls out the gender gap in financial literacy.
“Women in particular tend to have lower levels of financial literacy than men... According to research from the University of Western Australia, 63% of Australian men demonstrated basic financial literacy, compared with just 48% of women.” — Madison [08:19]
- Many listeners describe feeling isolated, unsure if their experiences are ‘normal.’
2. Listener-Generated Money Rules
The hosts structure the show around listener-submitted ‘rules’ that changed their money mindset, discussing each in turn.
Rule 1: Write Down Every Dollar You Spend
- Origin: From listener Anna
- Concept: Meticulous tracking for one month exposes the “leak” in your budget—those small, unnoticed spends.
“Until you know where your money is going, you can't stop the leak. Then it's a simple process of elimination and you can get to a place where you are saving money you didn't even know you were spending.” — Joanna, quoting Anna [10:20]
- Host insight: Banking apps that categorize spending can help automate this, and the process is most effective for those genuinely ready to look at their finances.
- Memorable moment: The candid chat about forgotten subscriptions.
“They have got my $13.99 every, every month for the last probably 30 months.” — Madison [12:45]
Rule 2: Always Think in Post-Tax Dollars, Not Pre-Tax
- Origin: From listener Grace
- Concept: Calculate affordability based on what you take home.
“The number that you see as your salary on your contract is never the number that hits your bank account.” — Madison [13:50]
- Host insight: Online pay calculators are an essential tool. Pay attention to how tax brackets and student loan repayments impact net income, especially when negotiating a raise.
“...I do think it's smart for people to use this before they ask for a pay rise. Because sometimes if you go up a certain bracket, you then get put into a different tax category and you can end up earning not as much as what you think.” — Rhiannon [15:01]
Rule 3: Make Financial Literacy a Priority
- Origin: From Bronte
- Concept: Surround yourself with non-judgmental, supportive professionals (accountant, mortgage broker) and prioritize learning.
“None of the important things and the life skills that you learn, that is like a fist pumping in the air that I'm saying this are taught to you at school... There is no financial literacy taught in our education system and I think it's a huge gap.” — Rhiannon [17:49]
- Host insight: Learning by living (buying a house, seeking help from family and professionals), and reflecting on the lack of practical finance education in school.
- Podcast Recommendations:
- The Curve Podcast with Vic and Sophie [20:52]
- You're in Good Company/Invested with Maddie Guest [21:51]
Rule 4: Set Up Multiple Savings Accounts with Different Purposes
- Origin: From listener Erin
- Concept: Use separate accounts (e.g., life savings, special item, joint account) to keep spending in check, avoid 'dipping', and stay motivated toward goals with named and earmarked funds.
“I call mine Joy. Joy because for a really long time...that is for Joy. And I don't want any guilt attached to that...that money is for that. That is for me to go, I want to go on that holiday or buy that item.” — Madison [24:21]
- Host insight: Most admit momentary guilt, but appreciate structure for both practical planning and “for joy” spending.
- Stats: 53% of survey respondents set up auto-transfers to savings for future planning [26:06]
Rule 5: Take Cash Out on Payday As Your Spending Money
- Origin: Multiple listeners (Tolly; producer Kate)
- Concept: The tangibility of cash can curb overspending.
“When you pay with cash, you can physically see your money diminishing, which can be really powerful.” — Rhiannon [29:19]
- Alternative: Automate digital transfers into savings/investment accounts you can't easily access (no app, no card).
- Host insight: Digital transactions foster flippant attitudes to spending. The cash hack might not suit online shoppers, but removing stored cards from websites is a helpful barrier [31:19].
Rule 6: When Eating Out, Never Buy Food You Can Make at Home
- Origin: Multiple listeners
- Concept: Save on routine meals—reserve eating out for special, unreplicable experiences. Breakfast food is the example most hosts agree with.
“I do not want to spend $35 for avocado and an egg with like a side. I just don't.” — Madison [32:34]
- Bonus Hack:
- Too Good To Go app: Discounted surplus food from local cafes/restaurants at day’s end (for families/sharehouses) [34:47]
Rule 7: Have a “Play” or “Joy” Account
- Origin: Listener Lauren (plus Nina)
- Concept: Avoid a “scarcity mindset” by having a guilt-free, “just for fun” pool of money—especially for windfalls or unexpected bonuses.
“Life is really stressful. And it's really hard...so for sometimes to have something or it goes somewhere that is purely for you to have a point of escapism...I think that's really important, because everything we do is very serious. And. Yeah, I just, I don't know. I spent so much of my 20s being serious. I'm really big advocate for joy.” — Madison [35:27]
- Host insight: Culturally, women are judged for spending money on “frivolous” things—having play money is empowering.
- Stats:
- Survey: 1 in 5 would save a $1,000 windfall, but most would spend it—travel the top choice (21%) [37:18]
- Nuanced point:
- Acknowledgment that “joy spending” is a privilege not everyone can currently access [37:31]
Notable Quotes & Memorable Moments
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On learning by doing and lack of education:
“None of the important things and the life skills that you learn...are taught to you at school about saving, about taxes, about what do I actually need to save for a mortgage…There is no financial literacy taught in our education system and I think it's a huge gap.” — Rhiannon [17:49]
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On practical hacks:
“I actually have a cleaning hack. Sorry, Maddie...the brand is called Love Basic B A S I Q...designed to remove makeup stains...you're not meant to put heat on it, so you're meant to just like wipe the stain off and then let it air dry...” — Joanna [01:10]
-
On privilege in saving/spending:
“It's a privilege to be able to be like, oh, well, I have a little fun account and I can spend my money on...fun things that I want to do or I can spend money to travel. There will be people...that are like, I do not have a spare dollar to scrape together to buy myself something fun.” — Joanna [37:31]
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On relationship upbringing and money:
“I grew up in a guilty spender household...my mom, and I think she still has that, like, the thought of treating herself is still a real guilt for her. And I see that, which is so funny because she has no guilt around spending, like, for myself or my stepsisters. She's so generous...” — Madison [27:43]
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On the joy account:
“Now I'm like, that is for Joy. And I don't want any guilt attached to that because for me, I spent a lot of my twenties being quite...I had a lot of big expenses. Like IVF is very expensive.. So for me right now, that Joy account is guiltless...that money is for that. That is for me to go. I want to go on that holiday or buy that item.” — Madison [24:21]
Timestamps for Important Segments
- 08:19–09:50 – Gender gap in financial literacy and impact on women
- 10:20–11:56 – Rule 1: Track every dollar spent; forgotten subscriptions
- 13:09–15:25 – Rule 2: Post-tax vs. pre-tax thinking; pay calculators, tax brackets
- 16:14–19:41 – Rule 3: Making financial literacy a priority, education system critiques, learning by necessity
- 20:09–22:09 – Podcasts for financial literacy
- 23:04–27:22 – Rule 4: Multiple savings accounts, methods to manage guilt vs. motivation
- 29:07–31:47 – Rule 5: Cash vs. digital, impulse spending hacks
- 32:03–34:48 – Rule 6: Eating out strategically, Too Good To Go app
- 34:48–39:33 – Rule 7: Joy/play money, privilege, winds up with a discussion on money talk taboo among women
- 39:33–40:15 – Uplifting each other, information sharing lifts all women
Final Thoughts
The hosts champion transparency, community wisdom, and compassion when it comes to money—emphasizing that small shifts in approach can have big impacts, and that talking (even awkwardly) about finances is an act of empowerment for women. They celebrate both the serious and the joyful aspects of spending, clearly advocating for balance and self-forgiveness when it comes to money.
Recap: This episode is a blend of practical tips, audience wisdom, and real talk about money management, emotional hurdles, and the importance of financial literacy—especially for women. Whether you’re a natural saver or working on your habits, you’ll find actionable advice and plenty of relatability.