Rich Mum Poor Mum: Financial Advice from Faye Kotsis.

Pay Yourself First

The best piece of advice I can give you is something I learned at a seminar recently. The speaker of honor was someone named Faye Kotsis, a mogul of the property industry with over thirty years of experience, a philanthropist who has contributed thousands of dollars and thousands of hours to charities, and a caring, generous person in her personal life. Mrs. Kotsis told the audience that one of the most important things, if not the most important thing, in getting ahead financially is this:




Hard to believe that a concept so simple can evade so many of us. Kotsis ensured the audience that most people focus on paying their debts and their bills first, and then they think about putting aside what they can afford into a savings plan or an investment. What happens is that when the bills are paid, we have a tendency to relax and feel like we’ve succeeded somehow. This is when we become lazy. Faye said that if you pay yourself before you pay your bills, you create urgency which kicks your brain into overdrive, making you come up with creative ways to keep your head above water. Putting aside even 10% of your earnings and telling yourself not to touch it, no matter what, will motivate you to come up with solutions to cover the expenses, such as spending less on groceries, on dining out, on movies, anything that you waste money on. Faye said that you may even find time for a second income. People with aspirations may admit that this is completely possible.

The second best piece of advice I can give you is something I learned at a seminar recently. Faye Kotsis was the guest of honor, a philanthropist who has contributed thousands of dollars and thousands of hours to charities, a mogul of the property industry with over thirty years of experience, and a caring, generous person in her personal life. Kotsis told the audience that the other rule of getting ahead financially is this:





Work To Live



It’s obvious that with bills and debts, responsibilities and commitments, we can very easily forget about the most important aspect of making a living in the first place: LIVING. Faye Kotsis told the audience that so many people she has helped financially couldn’t even tell her why they went to work, other than paying bills. I was shocked to realize I couldn’t answer that question myself. I gave some generic answer but I didn’t even convince myself. Want to refocus yourself and your goals? Take an evening or a weekend to sit down by yourself or with your partner, and ask yourself just what it is that you’re working for. Obviously we all need to pay bills and support ourselves and our families, but Mrs. Kotsis made the audience think about LIFE, not just work. She challenged us to reevaluate our goals and our reasons for leaving the house in the morning, and to give ourselves a chance to enjoy the journey.


Faye Kotsis Guest Speaker at my First Ladies’ Luncheon- Part 2

Here are some more things I managed to scribble down:


  1. Nobody knows you’re looking for a job unless you tell them! I was like, I’ve told tons of people I’m looking for work in the editing industry, but then Faye Kotsis told us to write down exactly who knows about your aspirations, and all I wrote down was my mum, some of my friends, and you guys who read my blog. Whoops! Faye said even putting it up on facebook can help you get the attention you need, because chances are one of your friends will know someone in the industry. Again, why didn’t I think of that?



Okay, I forgot to mention this one before! I think it’s super important and before Faye Kotsis said it, I’ve never really thought of it even though we all at least try and do it without really knowing why.


Okay I know you’re all like, “What is it??”

The answer is: “Dress for the job you want to have.”


I don’t think Mrs. Kotsis meant dress like a cop or a nurse if you want to be one, but more like dress professionally if you want to be seen as a professional, which is some good advice if you ask me! Now you know why I said we all at least try and do it, but I pretty much only dress up to go out for dinner or parties or to go to work. And I don’t even try that much when it comes to work, I just wear what I think I have to. Since right now I work at a clothing store it means I dress pretty casual!


Faye said, “Dress for the job you want to have,” and I looked down at myself. Blouse from Sportsgirl and skirt from like Supré or something. Not exactly looking like a professional editor! I don’t think her advice means I have to spend a fortune on clothes just to convince people to give me work, but dressing a bit more conservative and trying to be taken seriously will make me feel more serious when I’m telling people that this is my career dream. So that’s some of the advice I got from my first ladies’ luncheon, and I have Faye Kotsis to thank for it. Time to go out and conquer the professional business world! Wish me luck!


Faye Kotsis Guest Speaker at my First Ladies’ Luncheon

So you all know I was nervous about my first ladies’ luncheon. I was pretty much up all night stressing (sorry Tom! I know you like to get your 8 hours sleep!) about how many powerful women would be there and how they are all so successful and of course decked out in beautiful fashion. This is Sydney after all! Not to mention someone like Faye Kotsis being there.


Well let me give some back story: I’ve been trying to get work editing, and it’s nearly impossible to find out who to speak to, what companies to contact for work, and of course they all want specific qualifications. Something your uni tutors don’t tell you! Anyway a friend of mine suggested I start going to these ladies’ luncheons and ladies’ breakfasts, which are all about networking in the business community. I was like, what do I know about the business community?? Anyway, there was one coming up that my friend told me about, featuring a few local business owners and operators, all successful women, with the main guest speaker being Faye Kotsis, who has made her mark in real estate development and supports lots of charities.


Well most of the luncheon was a blur because I was so nervous about having to introduce myself, but I remember getting some great motivation and advice from some of the speakers. And when Faye got up on the little stage to speak, she gave us great tips which may seem simple, but are so important to entrepreneurs and people starting out in small business.


The ladies’ luncheon was well worth the cost of admission when I got advice from Faye Kotsis on how to start up my editing career. Here are some things I managed to scribble down. There was so much good advice I couldn’t get it all but I got more than enough to get really excited about my career!

  1. Invest in good quality business cards. Cheap business cards can be seen a mile away, and they make people think you’re not serious. Spending the money to get good quality, professional looking business cards can convince potential clients AND employers that you’re here to stay!
  2. Buy a magazine ad in a relevant industry. I was so surprised to hear this one, and I wondered how come I never thought of that?! Maybe because I didn’t think people actually read magazines that much anymore, but Faye Kotsis said it’s a must if you want to get attention from people in the industry. So the good thing is, there are lots of companies who make business cards and also design advertisements, so I’ll hopefully get a good deal if I get them to do both.







Healthy Mind, Healthy Body by Faye Kotsis.

While we all like to keep informed by watching the news, reading newspapers, and (for more and more of us) reading the news on Twitter, we also know that there seems to be much more bad news than good news happening on our planet. Faye says that sometimes keeping up with the news can, instead of making us feel informed and productive, make us feel stressed out and depressed. Worry about what’s going on in the world can affect our lives and our sleep, making a vicious circle of stress.


Faye suggests taking a break from the news once in a while, and instead focusing that time on learning about something else that’s very important: ourselves! By taking that focus we would spend on the world around us and directing our focus to ourselves, we may find that we notice things we would have missed.


The world is a big place, and there are always going to be good and bad things going on out there. Do we really need to be reminded of this as much as we are? Do yourself a favor and try this some time: Turn the TV off, put your mobile on silent, and just see how long you can sit quietly and relax. You may think this sounds like meditation, and you might be right. Faye Kotsis says that ‘meditation’ doesn’t have to involve sitting in a strange position or going through any kind of routine. It can mean just relaxing your body and your mind for a while, and letting your thoughts slow down for even a few minutes. The world will keep spinning if you take a break from watching it! There will always be news, but focusing on yourself once in a while can help to bring more good news than bad news into your life.








Get Ready for City2Surf: Training Tips from Faye Kotsis part 2.

Get ready for City2Surf with some great advice! In part 1, we looked at setting a goal, or a series of goals for yourself. Faye Kotsis knows that without a goal it’s hard to know where to even begin. With a goal, the finish line is clearly defined and you can start making a plan to get there.


Warm up and cool down!

Faye says that warming up your muscles before exercise is the best way to prevent injuries. A warm-up prepares your heart for increased activity, prepares your muscles for the strain of exercise and increases blood flow to the muscles, and (perhaps most important for running marathons) prepares your mind for the upcoming exercise!


Cooling down helps to carefully and safely return your heart to resting level of activity, helps remove waste products such as lactic acid from your muscles (don’t forget the leg muscles are very big!), and helps avoid dizziness or fainting as the blood returns to the rest of your body gradually.


Get some new running shoes!

Either shop for some new shoes and allow yourself time to get used to them and wear them in a bit, or if you’re going to run in the shoes you have now, definitely look them over for signs of wear or lack of support. Faye Kotsis has seen too many people start marathons only to give up because their feet hurt too much to go on. Running on the road is very different to running on a treadmill. Asphalt is much harder than the surface of a treadmill, and the impact can tire out your feet quicker, as well as your knees and other joints. Take those shoes out for some serious road runs well before marathon day, to make sure there won’t be any surprises!



Always have a goal!

This is so important to know, says. When you begin training, you may find that you’re just not sure how to go about it. With a clear goal and something to focus on, you will know exactly where you are and where you need to be as marathon day gets closer. Also, having a goal or even several goals, allows you to decide what help you need, and what your strong and weak points are.


For example, let’s say you do a bit of running already. How far can you run? How fast can you run? How much water do you need to drink while running? Without knowing these things, it’s hard to know what to work on. The best way to figure out what needs work is to know exactly what you’re already capable of. Keeping a journal is a great way to look over your progress and set goals for improving.


If you’re a veteran of marathon running, your goal may be to improve your finishing time. If you’ve run a half-marathon, your goal may be to run a full marathon. If you’ve never run a marathon before, your goal usually would be to finish, or you might decide that you just want to get out there and give it a go. In that case, Faye suggests having a look at the route map and deciding on your own finish line.

Get Ready for City2Surf: Training Tips from Faye Kotsis

Get ready for City2Surf with some great advice! These pointers will help you whether you’ve run a marathon before, or several marathons, or you’re thinking about signing up for your first-ever running event. Faye Kotsis has been involved with Sydney’s City2Surf marathon for several years now, and is a great supporter of people who want to raise some money, help others, and give themselves the gift of health in the process!


The great thing about the marathon is that you don’t have to be a competitive athlete to participate. The event attracts thousands of runners, joggers and walkers every year, and people of all fitness levels can really get out there and give it a shot. You don’t need to be a health-nut to compete. All you need to do is give yourself a chance! Faye has been there year after year taking part and contributing, and she wants to share the knowledge she has after watching people successfully complete the marathon. So what do they do as part of their training for the event?


Faye says that setting goals will be the key to success every time. Anyone who wants to achieve success knows that planning is everything. Making goals for yourself keeps you on task, and it gives you a focus. If you decide that you’re just going to wing it on the day and hope for the best, you may be disappointed when something happens that you weren’t ready for. So read our advice from Faye Kotsis to get the most out of the City2Surf marathon, and make sure that you achieve your goals on the day. After all, it only comes along once a year, and it can change your life for the better!


Get ready for City2Surf with some great advice! Mrs Kotsis has been involved with the City2Surf Marathon for several years, and she’s seen what it takes to make a successful run at it. Here are some great tips to ensure you get the most out of the marathon, and either make it to the finish line, or make yourself proud trying: