Inside Good Money Club: How to Manage Your Money (EP#48)
Profit First, Cashflow Reality, and Trusting Yourself with Money
Psst! Ever wondered what it’s really like inside Good Money Club? In this sneak peek episode of Money Secrets, Fi gets real about the thing that breaks (and builds) small businesses: cashflow. If you’ve ever obsessed over cutting costs while quietly avoiding the bigger question: how do I bring in more? this insight to one of our recent club sessions, “How to Manage Your Money” is the perspective shift you need.
Fi explains why revenue can be vanity, profit is sanity, and cash (money in the bank) is reality. She shares a practical walk-through of Profit First — the simple system that helps you pay yourself first, reduce stress, and make confident decisions about where every dollar goes.
🎧 Tune in to hear how a few weekly habits, a handful of bank accounts, and a mindset reset can turn “mo’ money, mo’ problems” into clarity, control, and sustainable growth.
What you’ll learn in this episode:
Cash ≠revenue: Why “money in the bank and how it moves” is the metric that matters most.
The growth trap: How fast growth (new team, inventory, expansion) creates cashflow crunches, and how to plan for the lag between expenses and income.
Self-trust with money: The subtle ways we sabotage revenue (discounting, slow follow-ups) and how to build evidence that you are good with money.
Profit First 101:
Flip the formula to Income - Profit = Expenses.
Use multiple bank accounts (Income, People/Owner’s Pay, Expenses, Tax, Profit).
Pay yourself first, then profit, then expenses; the ATO last (allocated weekly).
Make temptation harder: Keep profit/tax out of sight (even in a separate bank) if you tend to spend what you see.
Enforce a rhythm: Why weekly transfers make the system stick (habits > heroic bursts).
Credit cards = muddy water: How available credit blurs your true expense limits and fuels overspend.
Toothpaste rule: Use only what’s needed — even when the tube’s full, so you invest intentionally, not impulsively.
Slice the pie with percentages: Clear Monday-morning allocations so you always know what you can actually spend.
Think bigger than $30 decisions: Spend less time agonising over micro-costs and more time engineering $30k decisions that grow revenue.
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We’ve come so far as a society in many ways, but money is one of the areas where progress hasn’t been enough. If we want to tip the scales in favour of marginalised people, it starts with understanding the secret: money in small business.
In this podcast, Money Secrets, host Fiona (Fi) Johnston, Chartered Accountant, small business advocate, and impact enthusiast, dives into the conversations we need to have about money. The secrets that once stayed behind closed doors (or on the golf course) are finally out in the open.
Fi’s mission? To get more money into the hands of good people, like you. She believes small businesses have the power to change the world, and the key to making a bigger impact is to make—and manage—more money.
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Thank you to everyone involved for bringing this podcast together. We are excited to hear from you with any questions, feedback or suggestions for future episodes that you might have. Send a Direct Message to @peach.businessIf you are excited for what’s to come, please like this episode, follow the podcast and share it with your friends. We are thrilled you're here.
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Check out my FREE Pricing Training you need to set your prices for profitability.
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This podcast episode was recorded on the lands of the Wurundjeri People of the Kulin Nation and I'd like to acknowledge them as the Traditional Owners and custodians of this land and water that I live, work and play on. I'd like to pay respect to elders both past and present, and note that sovereignty has never been ceded. This always was and always will be Aboriginal and Torres Strait Islander land.
Australia