The message is obviously getting through because Australians spend around $500 million a year on vitamins and mineral supplements. I’ve even heard of people who spend hundreds of dollars a month on this stuff. To get to the bottom of this, I talked with Ada Hallam, a nutritionist who practices in Melbourne.

Remember: This article is for informational purposes only. The content does not constitute or replace professional medical advice. If you have concerns about your health or nutrition, please see a health professional.

MoneyTalks: Does the average Australian diet deliver sufficient nutrition? Should we believe advertisers when they tell us that our diet is inadequate?

Ada: In an ideal world, Australians shouldn’t have to take supplements. We have access to a very wide range of high quality foods. A healthy, balanced diet will normally deliver all the nutrients most people need. But unfortunately we don’t live in an ideal world. The steady increase in diseases like cardiovascular disease, diabetes, and obesity indicate that the Aussie diet isn’t working. In fact, research shows that the average adult is now getting over a third of their daily calories from junk food. Junk food usually contains high amounts of sugar and fat and very little nutritional goodness.

People are busy these days. We eat on the run and we eat a lot of processed foods. When you take all of these factors into account, I think it’s often hard for individuals to reach an optimal nutritional state through food alone. Nutrition also needs to be considered on a case-by-case basis. For example, pregnant women and women intending to become pregnant need higher levels of folic acid in their diet because it can protect against certain birth defects.

MoneyTalks: If a person feels like their diet might be inadequate, what vitamin supplements do you recommend?

Ada: Speaking generally, most people would benefit from a multivitamin. But people with health concerns or specific health conditions should seek professional advice. For those people, an understanding of therapeutic dosage and absorption are vital to ensure they get what they need.

The reality is that most people self-prescribe supplements based on advertising or what they read on the internet. There also tends to be a one-size-fits-all approach, which can lead to people taking supplements in a combination or form that may not meet their needs.

For example, let’s take probiotics. They’ve become hugely popular, but there are many different strains available and their clinical uses and effectiveness vary. People suffering from IBS-related symptoms will find greater relief from one particular strain versus someone who just wants to take a probiotic due to antibiotic use or for general health.

MoneyTalks: That leads to my next question: Vitamins vary widely in cost yet the ingredient list often looks identical. Does higher cost indicate better quality?

Ada: In Australia, the manufacture and sale of vitamins is regulated by the federal government. If you’re buying a supplement over-the-counter from a supermarket or pharmacy, it should meet those regulations whatever the price. Keep in mind that our government doesn’t control supplements bought from overseas through the internet. In my practice, I use more expensive, practitioner-only products, but that’s because my clients often have chronic health conditions and I need to be able to formulate the dosage for their needs. The average, healthy adult will require much lower dosages, and a general multivitamin will be fine. Follow the instructions on the label.

MoneyTalks: What’s the best way to budget for good nutrition?

Ada: That’s a great question. It’s one of the biggest challenges facing our nation. Processed food has become cheap food — cheap, empty calories. That’s why we need to embrace a new mindset and think of good nutrition as an investment. A balanced, nutrient-dense diet can protect against expensive, debilitating diseases like obesity, heart disease and diabetes.

I recommend that people eat a minimum of five serves of vegetables and two serves of fruit a day. I like to tell my clients to “eat a rainbow” — the more colours on your plate, the more nutrient-rich your meal is. Essential fatty acids are vital for health — they’re called ‘essential’ because the body can’t make them. The best dietary sources include oily fish, nuts and seeds, and plant oils such as olive oil. Eat brown grains instead of white. Generally speaking, white foods (white bread, pasta, rice etc.) tend to be more highly processed and depleted of nutrients. Lastly, keep sugar to a minimum. Instead of juices and soft drinks, drink water (tap water is fine), and think of sugary foods as a rare treat.

That’s not to say that my voice isn’t unique and attention-grabbing. It has through the years been described in such euphemisms as nails on a chalkboard, squeaky hinges and a sick kazoo. That’s to name just a few. My voice is one of the more persistent topics of feedback we get from the public.

The criticism concerned me at first, but I’ve long-learned to accept my nasal Aussie twang. Bernie Fraser (from the industry superannuation ads) and John Symonds (from Aussie Home Loans) get similar feedback about their voices. I suspect one of the underlying issues is that we’ve become so used to hearing media-type voices that real voices sound weird when we hear them on television and radio.

In 2008, when we made our first TV ads, Luke from Rocketeer Films suggested I be the face of MyBudget. From there, Austereo suggested for me to do the voiceover for our radio commercials. It all made sense and we quickly realised that my voice had ‘cut-through.’ The ads stood out because I don’t have a traditional media voice that blends in with other advertising. We were excited — people were actually hearing our ads! I continue to meet people who don’t recognise my face but say “I know your voice from somewhere.”

(By the way, having a cut-through voice also comes in handy for gaining the attention of children, ordering drinks in a noisy bar, calling for the ball in team sports, and parodying Kath and Kim. But I digress!)

MyBudget’s first advertising campaign was a huge breakthrough for us. Before 2008, we had been growing mainly by referrals and word-of-mouth. Our challenge in reaching out to the public was that MyBudget was a new type of service. We had made our own category — what was the best way to explain what we do in less than a minute?

We figured we’d let the stories tell themselves. That’s why we use real clients in our commercials. Their real-life stories are much more inspiring than we could possibly invent. In the process, MyBudget has grown to be bigger and more multi-voiced than my twangy vocal chords.

For a fleeting second, we thought about recruiting a celebrity spokesperson for MyBudget, but who wants to hear about budgeting from a celebrity? That’s not what MyBudget is about. We’re here to help everyday Aussies with their finances, from every walk of life, at every income level, no matter what their financial goals may be.

So, my dream of being a singer is long gone, but my dream of reducing financial stress in the community is rocking on. This is my passion and I couldn’t be prouder to put my voice to it. (But I do apologise to those with sensitive hearing!)

Tammy May’s May 2013 video log

The most important thing to remember is that you are not your clothes, handbag or hairstyle. Stick to fashion that’s affordable and you’ll not only look good, you’ll also feel great about yourself.

With that in mind, here are my tips for girls (and guys) that just wanna have funds:

• Give yourself an affordable clothes allowance in your budget and stick to it. That might mean saving up for expensive items or putting them on lay-by. Because I don’t spend beyond my budget, I never feel guilty.
• I have one word for you Kimmie: “Sales and bargains!” By only buying items that are marked down, you can save  hundreds of dollars a year.
• Buy clothes you can easily mix and match. I try to avoid unique pieces that don’t go with other things in my wardrobe. If you already have a lot of clothes, it might pay to spend an hour shopping in your own wardrobe and trying different pieces together. My friend Juliet uses the app StylishGirl to keep track of her wardrobe. She says it’s like having an online stocktake of her clothes in her pocket and it keeps her honest (“do I really need another black top?”). It also helps her create lots of different looks.
• Borrow clothes from friends. My friends and I often share clothes, shoes and accessories.
• If you find a great look in a magazine, try to source similar, cheaper items from places like Target. My friend Leah is fantastic at this. Her clothes are low priced, but she wears them like a million dollars.
• Don’t be a slave to fashion. If your fashion spending is causing you stress or coming at the cost of other goals, it’s time to cut back and get serious. Here’s how MyBudget client Nicole did it.

But as a minimum, no matter your salary, you should be saving at least $100 per month. This is useful for emergencies and to fall back on if a bill arrives that’s higher than expected. It also provides a buffer that keeps your budget intact. That’s why every budget we design at MyBudget includes a savings plan.

A person who has no or very little savings is walking a thin line. What happens if they lose their job or their car needs expensive repairs or they can’t work next week because their kid is sick? Most people in this position end up using a credit card or fast cash loans to make ends meet. This is how the debt spiral starts for many people.

In general, the more savings the better. Once you’ve reached your emergency fund savings goal you can then decide what to do with your extra savings—top up your super, invest in shares, open a term deposit, pay down your mortgage faster, take a well-deserved holiday etc. How you invest your savings will be influenced by your priorities and by, what financial advisors call, your risk profile.

A good goal is to have at least one month’s salary in savings. An even better position is to have six months. To keep your emergency fund safe and out of reach (“break glass in case of emergency!”) you might think about keeping the money in a term deposit. The banks are currently looking for cash which is why we’re seeing some decent term deposit rates. Shop around to find a term that suits you and your needs. Make sure you understand the penalties or conditions should you have to withdraw funds before the maturity date.

A businessman was travelling abroad when he visited a charming coastal village. As he enjoyed walking along the pier a small boat with a lone fisherman inside slid up to the pier and docked. Inside the small boat were several large Yellow-fin tuna. The businessman complimented the fisherman on the quality of his fish and asked how long it took to catch them. The fisherman replied, “Only a little while.”

“Why don’t you stay out longer and catch more fish?” asked the businessman. The fisherman shrugged and said he had enough to support his family’s needs and save a little for the future. The businessman then asked, “But what do you do with the rest of your time?” The fisherman shrugged again and said, “I sleep late, fish a little, play with my children, take an afternoon nap with my wife, and play guitar with my friends in the evenings. I have a full and busy life, señor.”

The businessman scoffed, “I have an MBA and I could help you. If you spend more time fishing, you’ll be able to buy a bigger boat. With the proceeds from a bigger boat, you can buy several more boats and eventually manage a fleet of boats and workers. Instead of selling your catch to a middleman, you could sell directly to the processor and eventually open your own cannery. You could set up offices in Los Angeles and New York. That would allow you to control the product, processing and distribution.”

The fisherman thought about this for a few seconds then asked, “But how long will this all take?” To which the businessman replied, “Fifteen, maybe 20 years.”  “And then what would I do?” asked the fisherman.

The businessman laughed and said, “That’s the best part! When the time is right you would sell your company stock to the public and become very rich. You would make millions.” “Millions? Then what?” asked the fisherman. The businessman said, “Well, of course then you would retire. You’d move to a charming coastal village where you could sleep late, fish a little, play with your children, take an afternoon nap with your wife, and play guitar with your friends in the evenings.”  –Author unknown

Tammy May’s May 2013 video log

There are many factors you need to consider before jumping in – everything from which direction your roof points to the confusing topic of solar credits.

Small solar panel systems have traditionally cost $6000-$7000 (including rebates), but systems are now becoming available for as little as $3000. A reputable dealer will help you calculate how long it will take you to realise a return on your investment. Your local council is also likely to have an advisor who can help you understand the costs and requirements.

Choice is careful to point out that it’s cheaper in the short-term to make your home energy efficient. If renewable energy is important to you but you’re not ready to invest in solar panels, an alternative is to buy renewable energy from your existing electricity supplier. Choice says that choosing GreenPower from your current provider will add approximately $4-$7 a week to an average bill.

This article appears in issue 3 of Samara Magazine,  a free online magazine for women business owners and entrepreneurs. Helping people to succeed and achieve their life goals is very important to me. The advice outlined in this article–what to do when there are more bills than income–applies as much to people in paid employment as to those running their own business. Good money management always comes back to budgeting.

When you work for yourself, cash flow can be a real challenge, that’s why it’s important to have a personal budget to make sure you meet your personal financial commitments. But what happens when there’s not enough income to cover your expenses? Sudden bills can crop up, payday can be delayed or your income can be skinnier than expected. Which should you pay first: your car insurance or mortgage? How will you pay for your child’s hobbies? Thousands of Australians face questions like these every day.

Protect your credit rating

When asked to prioritise their bills and debts, most people say that their mortgage is their top priority. That’s a good call. Lenders often issue default notices after mortgage payments have been missed for three consecutive months.

But many people don’t realise that other creditors (telephone companies, credit card providers, rental agencies etc.) also report defaults when bills are paid late. In fact, some creditors are more likely to report a default than a financial institution.

You want to avoid default notices on your credit file—they can result in you being refused credit or missing out on discounted interest rates.

Credit cards are not the answer

When money gets tight, the solution for many people is to use their credit card to make ends meet, but that strategy is fraught with danger. If you can’t pay your credit card balance in full at the end of each month, interest will be added to the amount you owe—the last thing you need when your finances are already stretched.

Take control of your bills

Even with fluctuating income, it’s possible to take control of your bills without needing a credit card or other loans to fall back on.

If you have more bills than you can afford, these five steps will point you in the right direction:

1. Take action — now!

Don’t hide your head in the sand. Financial problems have a habit of escalating, especially when late fees, penalties and reconnection costs are involved. The worst thing you can do is ignore the problem. If your car is going to be repossessed or your electricity cut off, you want to know about it!

2. Create a personal budget

A long-range budget will show you where your money is going and help you take control of your finances. Managing your income is particularly important if your income fluctuates. Having a budget in place will also assist you if you need to talk to your creditors about setting up an affordable payment plan.

As you look at your budget, identify areas to cut costs. Many people are surprised by how much money they spend on unnecessary things (coffee, lunches, clothes, magazines, snacks, and gadgets etc.) Look for big savings in areas like transportation, accommodation, mobile telephone, pay TV, entertainment and eating out.

3. Prioritise your bills

Ask yourself, what are the most important bills to pay first? What are the consequences of not paying a bill? For instance, most people understand that it’s better to surrender a rental TV than, say, let their home insurance lapse. But it’s easy to become confused about your priorities when creditors are chasing you for payment.

4. Contact your creditors

As soon as you know that you won’t be able to make a payment on time, call the creditor and explain your situation. Armed with your personal budget, you’ll be able to propose an alternative payment plan. Most creditors are happy to provide a short payment extension. Some will even grant you a moratorium (a payment holiday) while you get back on your feet. Also ask about the company’s financial hardship policy.

5. Seek help

Sometimes a fresh set of eyes will help you to see your finances from a new perspective. An accountant, financial counselor or personal budgeting service are great options, but you might also try talking to a friend who’s good with money.

The debate highlighted that money is clouded by all sorts of misunderstandings. Much of it stems from the fact that we live in a money-centric culture. Too often, we measure life in dollars and cents instead of its intrinsic value. But what if we measured our worth by different metrics: friends, family, health, laughs, kind thoughts, gentle words, personal projects, hobbies, gratitude, self-respect, knowledge… How wealthy would you be?

The 20^th of March marks the International Day of Happiness and to honour the event I want to address some popular money misconceptions. I hope, in the process, you’ll see yourself for the wealthy person you already are and the happy person you deserve to be!

Fiction 1: If I had more money, I’d be happier.

Don’t believe the hype: You are not your car, clothes, home, or job title. Sure, money pays the bills and gives us options, but it doesn’t buy self-worth. Happiness is an internal attitude that springs from self-respect. You generate self-respect by honouring your personal values. It has nothing to do with what you drive, the brand of your clothes, your address or your power over others. (Need examples? Whitney Houston, Amy Winehouse, Michael Jackson, Eva Rausing, Elvis, Marilyn Monroe…)

That being said, there is a strong correlation between stress and unhappiness. After all, it’s hard to feel happy if you’re always worrying. If financial stress is a source of unhappiness for you, the key is to reduce your stress by getting a better handle on your finances. It’s not about having more money; it’s about having more control over your money. Less stress = more happiness!

Fiction 2: If I had more money, I wouldn’t have to work.

Work is not just about earning money. Humans have an innate need to be creative and productive. That doesn’t necessarily mean working to cure cancer or striving to be prime minister (though it might). It means finding work that satisfies your personal interests. One person may like working in a team, another may prefer working alone. Perhaps you like working outdoors, while your best friend prefers an office job.

It also helps to turn up to work with a happy attitude. One of the most valuable lessons I ever learnt happened when I was working at Hungry Jacks. I realised that I had a choice: I could focus on the negative aspects of the job or I could focus on the positives. The hours went by much faster when I was wearing a smile. I learnt that any work can be satisfying if you try your best and approach it with a positive attitude.

Fiction 3: If I had more money, I wouldn’t be in debt.

A big income is no guarantee of avoiding debt. In fact, people with big salaries can be more prone to overspending, especially if they feel pressure to look successful and affluent. The only way to avoid debt is to not borrow money, which includes credit cards.

The good news is that you can avoid debt by living within your means. If you’re relying on loans to make ends meet or your debt has become unmanageable, it’s time to analyse your finances by creating a detailed budget. (MyBudget offers this service for free.) Most people can pay their way out of debt without needing more credit.

Fiction 4: If I had more money, I’d be able to live my dreams.

If your dream is to buy a tropical island then, yes, you’ll need to become rich to achieve it. But most people’s dreams are much more modest than that. When I talk to people their dreams include things like touring the country in a campervan, staying at home while their kids are young, or taking an overseas holiday. These dreams are achievable! We can’t always have everything we want in life (especially tropical islands), but we can achieve the things that are important to us if we are willing to set ourselves goals and stick to a plan.

In summary… Having more money won’t guarantee you happiness, but having more control over your finances is a great way to feel good about yourself and your future. The other advantages of practicing financial responsibility include finding deeper, more personal, less monetary ways to experience the beauty of life. I was reminded of this when I read this thoughtful client post:

“My children have become creative in thinking outside the square too, especially for Christmas and that you don’t need to a product to make someone happy… My son has decided to take his girlfriend to the beach and watch the sunset together on Christmas Day. I think that is just beautiful! Now, if we were not with MyBudget, I probably would have given my son $100 to go buy his girlfriend something and gone broke. It’s great to see MyBudget has also changed my children’s view of money and hopefully it stays with them throughout their lives.”

Wishing everyone a very happy International Day of Happiness for tomorrow!