#29 On Negotiating Your Financial Future with Lacey Filipich

#29 On Negotiating Your Financial Future with Lacey Filipich

It's time to tackle an important topic.


In this week's episode of Graduate Theory, we uncover how to take the first steps to become financially free.

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Lacey Filipich graduated as valedictorian in chemical engineering before starting work in the mines. Since then, she’s accomplished many things including becoming financially free, giving a TEDx talk, writing a book called “Money School” and founding a company by the same name.

👇 Episode Takeaways

3 Rules to Financial Independence

Lacey is financially free.

She said there are three things you need to do to get there.

  1. Save
  2. Buy Assets (Shares, Property)
  3. Avoid Bad Debt (Afterpay, expensive loans)

Doing any of these things will get you closer to your goal, doing more will get you there faster.

Negotiate Your Pay Often

Lacey negotiated her pay every 6 months.

In one case, she was promoted and her employer realised that she was already outside of the pay band for her new role.

Sound interesting?

She says that one of the things she did was to negotiate her pay every six months.

But I think when you're in a role, so you're in your job and you've got the same boss or whatever the point is, why would they pay you more? Because you're adding more value and they either don't want to lose you, or they want to share profits with you.

The steps to negotiating successfully?

  1. be a productive and valuable employee
  2. keep a record of the things you have achieved
  3. ask for a raise, and cite your achievements
  4. If you don't get a raise, ask why and take notes to improve (or leave)
  5. If you do get a raise, congratulations!

Pick your boss wisely

Lacey left us with a final piece of great advice.

There is no one who will have a bigger impact on how happy you are at work than your boss, the end. 80% of your satisfaction at work, I reckon comes from whether you have a good boss or an outside good boss

Pick your boss wisely. Perhaps even more than enjoying what you do is enjoying the company of those around you and those in charge of you.

Picking a good boss will both save you from misery and set you up for success.

🤝 Connect with Lacey

Money School - Get to financial independence, so you can enjoy life now
Financial independence means freedom to choose how you’ll spend your most precious resource: your time. Our independent financial education shows you how.


📝 Content Timestamps

00:00 Lacey Filipich

00:23 Intro

00:55 The Start of Lacey's Financial Journey

02:02 Lacey and Financial Independence

09:21 A Break from Work and Overseas Travel

16:27 How did Lacey restructure her life?

21:17 How to start your financial journey

26:19 Learning to run her own business

30:51 Saving More or Earning More

39:56 Asking for Pay Rises

50:01 Lacey's Advice for Graduates

58:14 Connect with Lacey

59:01 Outro