1
00:00:03,200 --> 00:00:06,760
Speaker 1: So we really need to shift our mindset around budgeting.

2
00:00:06,840 --> 00:00:08,680
Speaker 1: And the way that I approach it, I would say,

3
00:00:08,800 --> 00:00:11,920
Speaker 1: is very different to the average bear. So the way

4
00:00:11,960 --> 00:00:14,680
Speaker 1: I approach it is not about restriction. It's actually just

5
00:00:14,720 --> 00:00:18,840
Speaker 1: about learning what comes in and out of your bank

6
00:00:18,960 --> 00:00:22,919
Speaker 1: system without judgment. So if you look at your budget,

7
00:00:23,280 --> 00:00:25,400
Speaker 1: I guarantee one of the first things you'll says, oh

8
00:00:25,400 --> 00:00:27,520
Speaker 1: my god, I feel so bad, like I can't believe

9
00:00:27,600 --> 00:00:30,920
Speaker 1: I no, no, no, We're not going to use that language.

10
00:00:32,800 --> 00:00:35,480
Speaker 2: Py chicks, I'm out. And this is two broad chicks

11
00:00:35,479 --> 00:00:37,440
Speaker 2: to show that shares life lessons because we are broken

12
00:00:37,479 --> 00:00:40,080
Speaker 2: funds but rich in life. And today we are joined

13
00:00:40,080 --> 00:00:42,080
Speaker 2: by Victoria from She's on the Money.

14
00:00:42,320 --> 00:00:45,120
Speaker 1: Hello, my friends, thank you for having me. How fancy

15
00:00:45,200 --> 00:00:45,400
Speaker 1: is this?

16
00:00:45,760 --> 00:00:48,840
Speaker 3: So it's me, I know. We're down in Melbourne, face

17
00:00:48,880 --> 00:00:49,400
Speaker 3: to face.

18
00:00:49,680 --> 00:00:53,600
Speaker 2: I love it, instude, instude, and we are so excited

19
00:00:53,600 --> 00:00:55,720
Speaker 2: to say we're going to be talking about how to

20
00:00:55,840 --> 00:01:00,120
Speaker 2: actually spend your monthly paycheck because honestly, I don't think

21
00:01:00,120 --> 00:01:02,080
Speaker 2: many people know how to do this. I know, like

22
00:01:02,200 --> 00:01:04,360
Speaker 2: it's taken me a really long time and I probably

23
00:01:04,400 --> 00:01:05,880
Speaker 2: still don't know. Like I'm going to be listening to

24
00:01:05,920 --> 00:01:08,000
Speaker 2: this be like okay reading nex yeah, got it.

25
00:01:08,120 --> 00:01:12,160
Speaker 4: People are like just budget and I'm like, well what okay,

26
00:01:12,240 --> 00:01:13,360
Speaker 4: but what next?

27
00:01:13,800 --> 00:01:14,800
Speaker 3: Like how do I do that?

28
00:01:15,240 --> 00:01:18,319
Speaker 4: That's why we've got Victoria Aunt answer those questions for us.

29
00:01:18,520 --> 00:01:21,480
Speaker 1: Bold of you to think, I know, oh, come on now,

30
00:01:21,600 --> 00:01:23,760
Speaker 1: you've got a book on it, girl, I do, but

31
00:01:23,920 --> 00:01:25,920
Speaker 1: like fake it till you make it, you know, I'm

32
00:01:25,920 --> 00:01:27,840
Speaker 1: into that. It's very like do as I say, not

33
00:01:27,880 --> 00:01:30,000
Speaker 1: as I do. Yeah, so if you're here for professional

34
00:01:30,000 --> 00:01:32,280
Speaker 1: advice like that, we can talk about that personal advice.

35
00:01:33,480 --> 00:01:34,120
Speaker 1: So cute.

36
00:01:34,400 --> 00:01:38,360
Speaker 2: Yeah, but that's relatable, Like that's understandable. Like it's kind

37
00:01:38,360 --> 00:01:41,240
Speaker 2: of the worst when someone is sitting there being like

38
00:01:41,319 --> 00:01:44,160
Speaker 2: so you can never buy anything fun ever again, and

39
00:01:44,200 --> 00:01:46,160
Speaker 2: you're absolutely okay.

40
00:01:45,560 --> 00:01:48,360
Speaker 3: You set yourself up for failure. Yeah, Like I'm like,

41
00:01:48,400 --> 00:01:50,640
Speaker 3: that's not me. Yeah, can't say no to myself.

42
00:01:50,840 --> 00:01:51,120
Speaker 5: Yeah.

43
00:01:51,240 --> 00:01:53,600
Speaker 2: My toxic trait is like what baby wants baby gets.

44
00:01:53,840 --> 00:01:56,279
Speaker 1: Yeah, Like that's not a toxic trade. That's a life lesson.

45
00:01:56,440 --> 00:01:57,040
Speaker 5: Thank you.

46
00:01:57,560 --> 00:02:02,560
Speaker 2: I love this already. I love this. Yes, we love

47
00:02:02,600 --> 00:02:04,920
Speaker 2: it a neighbor. But before we get into the episode,

48
00:02:04,960 --> 00:02:06,640
Speaker 2: we do like to start with our life lesson of

49
00:02:06,640 --> 00:02:09,480
Speaker 2: the week. So Victoria's our guest of honor. What is

50
00:02:09,520 --> 00:02:10,120
Speaker 2: your life lessen?

51
00:02:10,160 --> 00:02:12,400
Speaker 1: A life lesson of the week or small?

52
00:02:13,040 --> 00:02:13,840
Speaker 5: Ah?

53
00:02:13,880 --> 00:02:16,040
Speaker 1: Do you know what? I feel like? There's so many.

54
00:02:16,360 --> 00:02:18,079
Speaker 1: I was talking to my dad the other day and

55
00:02:18,639 --> 00:02:21,800
Speaker 1: there have been some things in my life that I

56
00:02:21,840 --> 00:02:24,640
Speaker 1: just want to be brutally honest about that.

57
00:02:24,720 --> 00:02:26,120
Speaker 2: I love when your friend turns you and they're like,

58
00:02:26,120 --> 00:02:27,240
Speaker 2: can I just be mean for a second?

59
00:02:27,280 --> 00:02:30,280
Speaker 1: And you're like, one of my team members sent me

60
00:02:30,320 --> 00:02:33,080
Speaker 1: that as a TikTok this morning and it's like, you know,

61
00:02:33,080 --> 00:02:36,000
Speaker 1: how will you get resurrected from you? Yeah for a second,

62
00:02:36,040 --> 00:02:39,240
Speaker 1: And I'm like, yes, I'm here, that's me anyway. Else

63
00:02:39,240 --> 00:02:41,080
Speaker 1: saying to my dad like, ah, this is annoying me

64
00:02:41,200 --> 00:02:43,520
Speaker 1: or I rah, And he said, don't forget honesty tempered

65
00:02:43,520 --> 00:02:46,240
Speaker 1: with mercy and I was like what And he's like, well,

66
00:02:46,680 --> 00:02:49,680
Speaker 1: if you be honest, that's great, But like, is that

67
00:02:49,720 --> 00:02:52,000
Speaker 1: the kindest thing to do? Sometimes the kindest thing to

68
00:02:52,000 --> 00:02:54,359
Speaker 1: do is to say nothing. And sometimes the kindest thing

69
00:02:54,480 --> 00:02:57,040
Speaker 1: is actually going to be better for you mentally as well,

70
00:02:57,080 --> 00:03:00,480
Speaker 1: because you don't need to always give someone the tire

71
00:03:00,639 --> 00:03:03,480
Speaker 1: loop of feedback. Sometimes you just go, hey, I need

72
00:03:03,480 --> 00:03:05,760
Speaker 1: a moment Hey need this, hey need that. But you

73
00:03:05,800 --> 00:03:09,160
Speaker 1: don't have to always give them one hundred percent of

74
00:03:09,200 --> 00:03:11,240
Speaker 1: the truth because that might not be the kindest thing.

75
00:03:11,520 --> 00:03:14,920
Speaker 1: We're not saying, lie, Yeah, like temper your honesty with

76
00:03:15,040 --> 00:03:17,200
Speaker 1: mercy and be a little bit kind. So maybe we're like,

77
00:03:17,200 --> 00:03:19,120
Speaker 1: that's a find dad lesson.

78
00:03:19,600 --> 00:03:22,680
Speaker 2: Yeah, So I'm like, why'd you lie? And I was like,

79
00:03:22,720 --> 00:03:28,360
Speaker 2: I was being merciful, like you could have told me,

80
00:03:28,400 --> 00:03:30,359
Speaker 2: And I'm like, no, no, I'm just being dick.

81
00:03:31,000 --> 00:03:32,200
Speaker 5: Well you didn't tell the whole truth.

82
00:03:32,200 --> 00:03:34,720
Speaker 1: It's like, yeah, because it wasn't the kindest thing to do.

83
00:03:34,880 --> 00:03:37,400
Speaker 2: That's the thing sometimes, like when you know something like,

84
00:03:37,440 --> 00:03:39,839
Speaker 2: for example, if you know that your best friend's ex

85
00:03:39,960 --> 00:03:42,160
Speaker 2: got with someone on the weekend at the pub, you're like,

86
00:03:42,560 --> 00:03:43,960
Speaker 2: I'm not going to tell you that. You don't need

87
00:03:44,000 --> 00:03:47,160
Speaker 2: to know. You don't need to know anyone. Yeah, So

88
00:03:47,320 --> 00:03:48,520
Speaker 2: what's your life lesson of the week?

89
00:03:48,600 --> 00:03:50,560
Speaker 4: Okay, this one's like a bit of a reminder. But

90
00:03:50,680 --> 00:03:53,960
Speaker 4: something that I had been completely neglecting for the last

91
00:03:53,960 --> 00:03:54,880
Speaker 4: few years. Is it me?

92
00:03:55,160 --> 00:03:56,760
Speaker 5: Because I wanted to bring this up.

93
00:03:57,240 --> 00:03:59,080
Speaker 2: On the board.

94
00:04:00,320 --> 00:04:03,280
Speaker 4: It's to take advantage of happy hours, Oh my god,

95
00:04:03,400 --> 00:04:07,560
Speaker 4: like midweek deals. Yes, I never ever do that, I'll

96
00:04:07,640 --> 00:04:09,480
Speaker 4: like rock up and be like, oh shit, happy hour

97
00:04:09,600 --> 00:04:12,520
Speaker 4: just ended, like I never organized enough, or I just

98
00:04:12,560 --> 00:04:14,280
Speaker 4: go to the same restaurant every time.

99
00:04:14,400 --> 00:04:15,600
Speaker 3: I never branch out.

100
00:04:15,800 --> 00:04:18,040
Speaker 4: But because we were coming down to Melbourne and we're

101
00:04:18,040 --> 00:04:20,360
Speaker 4: all about that broke chick life, we were like, let's

102
00:04:20,360 --> 00:04:22,840
Speaker 4: look up some happy hours, like some good midweek deals.

103
00:04:23,000 --> 00:04:25,600
Speaker 4: We got thirty percent off a meal for ordering online

104
00:04:25,640 --> 00:04:27,000
Speaker 4: at a restaurant.

105
00:04:26,800 --> 00:04:29,800
Speaker 2: Well booking, just booking, yeah, just booking online. We didn't

106
00:04:29,839 --> 00:04:31,800
Speaker 2: even order it, need to order the food in advance,

107
00:04:32,240 --> 00:04:33,599
Speaker 2: we just booked it online.

108
00:04:33,680 --> 00:04:36,360
Speaker 3: It was Sint Domenico's and it was so nice.

109
00:04:36,360 --> 00:04:38,039
Speaker 4: But I don't think I ever would have found it

110
00:04:38,920 --> 00:04:42,200
Speaker 4: unless I've just been googling like midweek deals Melbourne.

111
00:04:42,560 --> 00:04:45,040
Speaker 2: It was and it was so delicious. Our producer, who

112
00:04:45,080 --> 00:04:48,800
Speaker 2: is gluten and dairy intolerant, had a four cheese and yoki.

113
00:04:49,839 --> 00:04:52,559
Speaker 2: We were like and then she was like, what I'm living?

114
00:04:52,800 --> 00:04:54,000
Speaker 5: Yeah, it was worth.

115
00:04:55,880 --> 00:04:56,440
Speaker 2: She was fine.

116
00:04:56,640 --> 00:05:01,320
Speaker 5: She was fine, that's a money win.

117
00:05:01,440 --> 00:05:04,040
Speaker 1: There's also an app that my community are obsessed with

118
00:05:04,200 --> 00:05:05,760
Speaker 1: and I cannot for the life club.

119
00:05:06,080 --> 00:05:08,960
Speaker 2: No. It's called like First Table or open Table.

120
00:05:09,120 --> 00:05:12,320
Speaker 1: No First Table and you book and look I might

121
00:05:12,360 --> 00:05:14,520
Speaker 1: be incorrect, but if you google first table like Melbourne

122
00:05:14,560 --> 00:05:16,279
Speaker 1: or City, I'm sure it will come up. But it's

123
00:05:16,320 --> 00:05:18,760
Speaker 1: like an app where you can go on and book

124
00:05:18,800 --> 00:05:20,920
Speaker 1: the first tables of the evening and you get fifty

125
00:05:20,920 --> 00:05:24,120
Speaker 1: percent off your meal at that particular restaurant because you

126
00:05:24,120 --> 00:05:26,479
Speaker 1: know how if they open it like five, there's like

127
00:05:26,560 --> 00:05:30,040
Speaker 1: no one there. Oh my god, make us look busier.

128
00:05:30,520 --> 00:05:31,440
Speaker 1: We'll give you half off.

129
00:05:31,600 --> 00:05:34,279
Speaker 2: That is. That is amazing. Also, I love it like

130
00:05:34,320 --> 00:05:37,800
Speaker 2: a five pm dinner special. I do not.

131
00:05:37,920 --> 00:05:40,480
Speaker 1: That is an afternoon snack. I'm going to require dinner

132
00:05:40,520 --> 00:05:41,240
Speaker 1: again at ninth.

133
00:05:41,120 --> 00:05:42,520
Speaker 5: Oh yeah, oh we can do that.

134
00:05:44,640 --> 00:05:45,360
Speaker 1: Yeah, I don't know.

135
00:05:47,800 --> 00:05:50,000
Speaker 2: It's a dinner win. My life lesson of the week

136
00:05:50,120 --> 00:05:52,560
Speaker 2: is how you can see the Barbie movie for twelve dollars.

137
00:05:52,680 --> 00:05:54,680
Speaker 1: What? Yeah, I didn't know this.

138
00:05:54,920 --> 00:05:56,760
Speaker 5: Oh yeah, very good deal. Yeah.

139
00:05:56,760 --> 00:05:59,680
Speaker 2: So literally I did this with my partner. I think

140
00:05:59,680 --> 00:06:02,240
Speaker 2: it was like eleven dollars for a movie ticket and

141
00:06:02,360 --> 00:06:03,960
Speaker 2: it was just buying it on the shot back app.

142
00:06:04,120 --> 00:06:07,520
Speaker 2: You just get like a voucher on shot back and

143
00:06:07,560 --> 00:06:10,240
Speaker 2: it's half priced. Now it's eleven dollars and ninety five cents.

144
00:06:10,279 --> 00:06:11,919
Speaker 2: And when you go to the movies, you can scan

145
00:06:12,000 --> 00:06:14,520
Speaker 2: it to get your movie ticket, or you just buy

146
00:06:14,520 --> 00:06:16,599
Speaker 2: your ticket online and it's so cheap, so just do

147
00:06:16,640 --> 00:06:17,000
Speaker 2: that if.

148
00:06:16,960 --> 00:06:18,240
Speaker 1: You want to go because the movie.

149
00:06:18,720 --> 00:06:21,800
Speaker 2: The movies are so expensive now it's ridiculous. I sound

150
00:06:21,880 --> 00:06:24,599
Speaker 2: like my dad, but I'm like, I don't want to pay.

151
00:06:24,800 --> 00:06:27,080
Speaker 1: Out the popcorn, and then you obviously need the like

152
00:06:27,520 --> 00:06:31,719
Speaker 1: giant coat. Oh yeah, tops, obviously that's part of the

153
00:06:31,760 --> 00:06:32,640
Speaker 1: experience absol.

154
00:06:33,800 --> 00:06:36,080
Speaker 2: But they have deals across like gold class as well.

155
00:06:36,120 --> 00:06:38,040
Speaker 2: So if you're wanting to go see the Barbie movie,

156
00:06:38,120 --> 00:06:39,360
Speaker 2: obviously you.

157
00:06:39,160 --> 00:06:41,920
Speaker 5: Are, like who are you rich?

158
00:06:42,200 --> 00:06:44,760
Speaker 3: Yeah, well, okay, only if we're getting it half rice.

159
00:06:44,720 --> 00:06:46,520
Speaker 2: Fully, but like as well, maybe if you're going on

160
00:06:46,560 --> 00:06:47,839
Speaker 2: a date, like if you want to take someone on

161
00:06:47,880 --> 00:06:48,480
Speaker 2: a date as.

162
00:06:48,400 --> 00:06:52,200
Speaker 1: Well, elite date, taking me to the Barbie movie, Like

163
00:06:52,279 --> 00:06:55,080
Speaker 1: I'm already married. If you yet me, I would marry you.

164
00:06:55,080 --> 00:06:58,839
Speaker 1: You're like divorced, babe, divorce a Barbie movie.

165
00:06:59,040 --> 00:07:03,240
Speaker 2: Yeah, yeah, yeah, it's over all right, Well, now that

166
00:07:03,279 --> 00:07:05,760
Speaker 2: we've saved money, gone to happy hour and we're going

167
00:07:05,839 --> 00:07:09,960
Speaker 2: to start being merciful and honest, let's get into the episode,

168
00:07:10,400 --> 00:07:13,880
Speaker 2: all right, So finance in our twenties is there's so

169
00:07:14,080 --> 00:07:15,760
Speaker 2: much to it, but we're going to kind of niche

170
00:07:15,800 --> 00:07:19,720
Speaker 2: down into how to spend our monthly paycheck. But first

171
00:07:19,720 --> 00:07:22,840
Speaker 2: things first, what's that average salary that someone in their

172
00:07:22,840 --> 00:07:25,320
Speaker 2: mid twenties is actually working with and earning?

173
00:07:25,920 --> 00:07:28,960
Speaker 1: So it really depends and there's lots of different numbers

174
00:07:28,960 --> 00:07:31,600
Speaker 1: that float around, and I think the best number to

175
00:07:31,800 --> 00:07:33,920
Speaker 1: rely on if you're asking me for the average is

176
00:07:33,920 --> 00:07:36,640
Speaker 1: the abs starter and so it's eleven hundred and twenty

177
00:07:36,680 --> 00:07:39,720
Speaker 1: seven dollars and fifty cents each and every single week,

178
00:07:40,000 --> 00:07:41,280
Speaker 1: which feels like a lot.

179
00:07:41,400 --> 00:07:42,640
Speaker 2: It does feel like a lot.

180
00:07:42,520 --> 00:07:45,240
Speaker 1: But when you realize how much it costs to live,

181
00:07:45,280 --> 00:07:49,200
Speaker 1: it's not actually that much. However, it's interesting when you

182
00:07:49,240 --> 00:07:51,880
Speaker 1: look at what the mean salary is for the average

183
00:07:51,880 --> 00:07:55,320
Speaker 1: Australian versus the median, these two things are actually quite different.

184
00:07:55,760 --> 00:08:00,000
Speaker 1: And I believe the average salary is around sixty thousand dollars,

185
00:07:59,680 --> 00:08:03,680
Speaker 1: but the quote normal salary, like what you would most

186
00:08:03,960 --> 00:08:08,000
Speaker 1: likely expect someone our age to earn, is between seventy

187
00:08:08,080 --> 00:08:11,360
Speaker 1: and ninety thousand a year. So it really depends on

188
00:08:11,640 --> 00:08:14,680
Speaker 1: so much stuff, right, Because this data takes into consideration

189
00:08:14,800 --> 00:08:17,440
Speaker 1: people who live regionally, all of the people who might

190
00:08:17,440 --> 00:08:20,920
Speaker 1: be employed and working part time, working mums, people who

191
00:08:20,960 --> 00:08:24,040
Speaker 1: have a lot more flexibility, people who are working and

192
00:08:24,120 --> 00:08:26,360
Speaker 1: are very close to the poverty line. But then it's

193
00:08:26,400 --> 00:08:29,760
Speaker 1: also considering people who own hundreds of thousands of dollars,

194
00:08:29,760 --> 00:08:32,840
Speaker 1: if not millions, as business owners. So it's kind of

195
00:08:32,960 --> 00:08:36,840
Speaker 1: hard to look at data and go is this reflective

196
00:08:37,120 --> 00:08:40,280
Speaker 1: of the reality. And when I look at the reality

197
00:08:40,320 --> 00:08:42,240
Speaker 1: and I look at our community and that she's on

198
00:08:42,240 --> 00:08:44,120
Speaker 1: the money community is more than two hundred and fifty

199
00:08:44,160 --> 00:08:49,200
Speaker 1: thousand women. And I'm psycho love I love data. I

200
00:08:49,320 --> 00:08:53,240
Speaker 1: actually studied psychology way back when, have two degrees in that,

201
00:08:53,320 --> 00:08:55,600
Speaker 1: so psychometrics.

202
00:08:54,800 --> 00:08:59,360
Speaker 2: And I gettics. I'm like, are you ready my mind?

203
00:09:00,240 --> 00:09:01,880
Speaker 1: I mean here to it tally, you'd be kind to

204
00:09:02,040 --> 00:09:05,000
Speaker 1: watch out anyway, I would say the average is more

205
00:09:05,080 --> 00:09:07,520
Speaker 1: around take home pay in your twenties of like eight

206
00:09:07,640 --> 00:09:10,959
Speaker 1: hundred bucks. So the data or the official data says

207
00:09:11,000 --> 00:09:14,400
Speaker 1: one thing. And then my experience within my community, because

208
00:09:14,440 --> 00:09:17,200
Speaker 1: as I said, love a bit of analysis. I give

209
00:09:17,240 --> 00:09:21,320
Speaker 1: them a census every year. That's so cool, around eight

210
00:09:21,360 --> 00:09:24,199
Speaker 1: to nine hundred dollars a week take home and then

211
00:09:24,320 --> 00:09:28,120
Speaker 1: our average, I guess rent payment in our twenties is

212
00:09:28,240 --> 00:09:30,920
Speaker 1: nearly forty percent of our salary.

213
00:09:31,160 --> 00:09:34,319
Speaker 2: Yep, I feel that feel that it's a.

214
00:09:34,240 --> 00:09:36,240
Speaker 1: Lot, And I mean it's all down to I've got

215
00:09:36,240 --> 00:09:37,800
Speaker 1: so much to say about this, but it's all down

216
00:09:37,840 --> 00:09:39,960
Speaker 1: to your values and your goals and whatnot. And like

217
00:09:40,080 --> 00:09:42,560
Speaker 1: I meet people who are, you know, living really frugally

218
00:09:42,600 --> 00:09:44,720
Speaker 1: and they're like, oh, I don't even pay rent. I

219
00:09:44,760 --> 00:09:47,160
Speaker 1: live in a cardboard box in the corner of a sharehouse.

220
00:09:47,520 --> 00:09:49,200
Speaker 1: And then there's other people who are like, no, I

221
00:09:49,240 --> 00:09:52,520
Speaker 1: really value my home and my rent is actually fifty

222
00:09:52,559 --> 00:09:55,199
Speaker 1: five percent of my salary. And you go, okay, as

223
00:09:55,200 --> 00:09:58,079
Speaker 1: long as you're making educated decisions around that. And I

224
00:09:58,120 --> 00:10:00,880
Speaker 1: guess that's what this conversation is meant to be about.

225
00:10:01,040 --> 00:10:02,520
Speaker 2: Yeah, I think that's such a good point on like

226
00:10:02,559 --> 00:10:04,320
Speaker 2: what your priorities are and what you want in life,

227
00:10:04,360 --> 00:10:07,480
Speaker 2: Like do you want to be living in like your

228
00:10:07,559 --> 00:10:10,120
Speaker 2: dream apartment or do you want to just like go

229
00:10:10,200 --> 00:10:11,760
Speaker 2: live your life and you don't really care about where

230
00:10:11,800 --> 00:10:15,000
Speaker 2: you lay your head at night. I'm definitely the apartments.

231
00:10:15,559 --> 00:10:20,199
Speaker 2: I'm such a homebody. Yeah, yeah, I love being at

232
00:10:20,240 --> 00:10:23,600
Speaker 2: home and I wasn't always like that, but definitely off

233
00:10:23,640 --> 00:10:26,920
Speaker 2: the COVID, I'm such like I'm like home.

234
00:10:27,200 --> 00:10:27,520
Speaker 5: Yeah.

235
00:10:27,600 --> 00:10:29,439
Speaker 4: I think that's so interesting as well that you look

236
00:10:29,480 --> 00:10:31,640
Speaker 4: at that data based on your audience, because then you

237
00:10:31,679 --> 00:10:32,800
Speaker 4: can actually give.

238
00:10:32,720 --> 00:10:35,240
Speaker 3: More helpful and tailored advice.

239
00:10:35,400 --> 00:10:38,080
Speaker 4: I know it's still not personal advice because everybody's situation

240
00:10:38,200 --> 00:10:41,480
Speaker 4: is so different, but based on that, what's the average

241
00:10:42,000 --> 00:10:44,280
Speaker 4: savings that people in their mid twenties have?

242
00:10:44,600 --> 00:10:46,439
Speaker 1: See? I don't like this question either.

243
00:10:46,600 --> 00:10:48,319
Speaker 2: Can you make everyone? You're either going to make everyone

244
00:10:48,360 --> 00:10:50,120
Speaker 2: feel better about themselves or you were.

245
00:10:50,040 --> 00:10:51,600
Speaker 1: Bad because I look at it and I look at

246
00:10:51,600 --> 00:10:54,280
Speaker 1: my community and they say one thing and then the

247
00:10:54,360 --> 00:10:55,640
Speaker 1: reality of it says another.

248
00:10:55,800 --> 00:10:58,800
Speaker 2: But that's the thing. So healtic statistics can be so

249
00:10:59,000 --> 00:11:01,320
Speaker 2: like they'll show you a number of like you know

250
00:11:01,400 --> 00:11:03,640
Speaker 2: what the average person in their twenties is EARNINGE? And

251
00:11:03,679 --> 00:11:06,120
Speaker 2: you're like, who where? Yeah?

252
00:11:06,160 --> 00:11:09,920
Speaker 1: Yeah, So Westpac data tells us that the average savings

253
00:11:09,960 --> 00:11:12,559
Speaker 1: of someone in their twenties is seven nine hundred and

254
00:11:12,600 --> 00:11:14,640
Speaker 1: ninety five dollars and I look at that and go,

255
00:11:14,720 --> 00:11:19,080
Speaker 1: oh baller, all right, no worries. However, other data tells

256
00:11:19,160 --> 00:11:22,960
Speaker 1: us that the average Australian obviously not all in their twenties.

257
00:11:23,520 --> 00:11:26,440
Speaker 1: The average Australian would not be able to access five

258
00:11:26,559 --> 00:11:29,600
Speaker 1: hundred dollars if they came into an emergency where that

259
00:11:29,720 --> 00:11:32,680
Speaker 1: was required. So I look at it and go, all right,

260
00:11:32,840 --> 00:11:36,960
Speaker 1: no worries. And then when I survey my my community

261
00:11:36,960 --> 00:11:39,080
Speaker 1: and go, hey, how much do you have in savings?

262
00:11:39,679 --> 00:11:42,079
Speaker 1: It goes all the way from I have literally nothing,

263
00:11:42,080 --> 00:11:44,840
Speaker 1: I'm negative, I'm in personal debt all the way through

264
00:11:44,880 --> 00:11:48,480
Speaker 1: two hundreds of thousands of dollars. But the average, I

265
00:11:48,480 --> 00:11:51,160
Speaker 1: would say is between two and five thousand dollars. So

266
00:11:51,200 --> 00:11:54,079
Speaker 1: that nine hundred and ninety five dollars feels like a lot,

267
00:11:54,400 --> 00:11:57,000
Speaker 1: especially in your twenties, Like I feel like you're just

268
00:11:57,040 --> 00:11:59,960
Speaker 1: setting yourself up, like life has just become quote real,

269
00:12:00,280 --> 00:12:04,120
Speaker 1: and you're learning and growing and changing and testing the waters. Yeah,

270
00:12:04,160 --> 00:12:07,959
Speaker 1: so if you have more than that, baller, big drategy.

271
00:12:08,080 --> 00:12:09,680
Speaker 1: But if you have less than that, I wouldn't be

272
00:12:09,679 --> 00:12:11,680
Speaker 1: crucifying yourself either, because it's so.

273
00:12:11,720 --> 00:12:13,880
Speaker 2: Normal, definitely, And I think a lot of people are

274
00:12:13,920 --> 00:12:17,520
Speaker 2: struggling to just pay their rent increase, like and that's okay,

275
00:12:17,640 --> 00:12:20,800
Speaker 2: Like you don't need to be having seven thousand, nine

276
00:12:20,840 --> 00:12:23,600
Speaker 2: hundred dollars in your bank account. Like if you focusing

277
00:12:23,640 --> 00:12:25,680
Speaker 2: on getting by month to month, that's okay.

278
00:12:26,200 --> 00:12:29,040
Speaker 4: Yeah, it's also really good to have that context, because

279
00:12:29,080 --> 00:12:31,760
Speaker 4: it is so disheartening when you see that figure and

280
00:12:31,800 --> 00:12:34,400
Speaker 4: you're like I don't have that and I am not

281
00:12:34,520 --> 00:12:37,600
Speaker 4: even anywhere near close to that. In my early twenties,

282
00:12:37,640 --> 00:12:40,559
Speaker 4: I was so like pessimistic when it came to my money,

283
00:12:40,559 --> 00:12:43,679
Speaker 4: being like, well, I'm earning nothing, so what's even the point,

284
00:12:43,800 --> 00:12:46,040
Speaker 4: Like I'll never get to that goal of the average,

285
00:12:46,040 --> 00:12:48,520
Speaker 4: so like what's the point. But it's like, no, like

286
00:12:48,600 --> 00:12:50,760
Speaker 4: every little bit counts, and it's so helpful to know

287
00:12:50,840 --> 00:12:53,320
Speaker 4: that the majority of people don't have seven thousand dollars

288
00:12:53,360 --> 00:12:55,360
Speaker 4: saved in their mid twenties, I know.

289
00:12:55,559 --> 00:12:57,760
Speaker 2: And in my it's so bad that I'm like, what

290
00:12:57,840 --> 00:13:00,880
Speaker 2: if my dad tomorrow, you know, Like I have that

291
00:13:00,880 --> 00:13:02,439
Speaker 2: thing in my head that I'm like, I want to

292
00:13:02,480 --> 00:13:03,800
Speaker 2: say if I want to be responsible. But then I'm

293
00:13:03,800 --> 00:13:09,280
Speaker 2: also like, but like there's only one day like today,

294
00:13:10,240 --> 00:13:11,199
Speaker 2: which again.

295
00:13:11,000 --> 00:13:13,280
Speaker 1: Like I'm sixty five year old, you I know, I

296
00:13:13,400 --> 00:13:16,680
Speaker 1: had a good twenty years, yeah, which I don't remember

297
00:13:16,720 --> 00:13:17,320
Speaker 1: now at all.

298
00:13:17,520 --> 00:13:20,280
Speaker 2: I only remember when I had a breakfast this morning.

299
00:13:20,440 --> 00:13:20,760
Speaker 3: Yeah.

300
00:13:20,800 --> 00:13:22,679
Speaker 2: But again I'm like, well, baby wants the baby gets

301
00:13:24,040 --> 00:13:26,360
Speaker 2: I think as we're one of the biggest struggles I've

302
00:13:27,000 --> 00:13:29,280
Speaker 2: had with budgeting and trying to get better with my

303
00:13:29,320 --> 00:13:32,360
Speaker 2: money is that there are so many types of budgets

304
00:13:32,400 --> 00:13:34,480
Speaker 2: that we're told to do, being like, oh, try this

305
00:13:34,559 --> 00:13:37,600
Speaker 2: rule or do this budgeting hack, and it becomes a

306
00:13:37,640 --> 00:13:40,360
Speaker 2: lot and a bit overwhelming. So in your experience, when

307
00:13:40,400 --> 00:13:44,920
Speaker 2: someone's really bad at budgeting, like uss like I was, Yeah,

308
00:13:45,200 --> 00:13:48,080
Speaker 2: if someone's really bad at budgeting, what is the budgeting

309
00:13:48,280 --> 00:13:50,880
Speaker 2: tool or way of doing it that you recommend?

310
00:13:51,120 --> 00:13:54,360
Speaker 1: So I am really fluffy, like I am so like,

311
00:13:54,440 --> 00:13:56,280
Speaker 1: oh my gosh. So it's about how you think and

312
00:13:56,320 --> 00:13:58,720
Speaker 1: how you feel. So like hear me, all right, So

313
00:13:58,960 --> 00:14:02,199
Speaker 1: budgeting sucks. Likes to budget because budgeting I would a

314
00:14:02,280 --> 00:14:04,760
Speaker 1: kin to dieting. No one likes dieting. It feels restrictive,

315
00:14:04,800 --> 00:14:07,199
Speaker 1: it feels awful. It doesn't feel like something I want

316
00:14:07,240 --> 00:14:10,920
Speaker 1: to do. The second I implement any type of diet

317
00:14:10,960 --> 00:14:13,640
Speaker 1: in my life, which I don't anymore completely, just to

318
00:14:13,679 --> 00:14:16,160
Speaker 1: put that on the table, I just think of all

319
00:14:16,160 --> 00:14:19,000
Speaker 1: the things I can't have. I feel like the same

320
00:14:19,040 --> 00:14:21,680
Speaker 1: thing happens when we budget. So if I said to you,

321
00:14:21,680 --> 00:14:23,720
Speaker 1: you really need to budget, you'd be like, but I

322
00:14:23,840 --> 00:14:25,920
Speaker 1: want to and you're thinking about all the things that

323
00:14:25,960 --> 00:14:27,840
Speaker 1: you can't have, not the things that you can have

324
00:14:27,920 --> 00:14:31,000
Speaker 1: because of the decisions that you're making. So we really

325
00:14:31,040 --> 00:14:34,080
Speaker 1: need to shift our mindset around budgeting. And the way

326
00:14:34,120 --> 00:14:36,680
Speaker 1: that I approach it, I would say, is very different

327
00:14:36,840 --> 00:14:39,400
Speaker 1: to the average bear. So the way I approach it

328
00:14:39,440 --> 00:14:42,920
Speaker 1: is not about restriction. It's actually just about learning what

329
00:14:43,000 --> 00:14:47,600
Speaker 1: comes in and out of your bank system without judgment.

330
00:14:47,920 --> 00:14:51,080
Speaker 1: So if you look at your budget, I guarantee one

331
00:14:51,080 --> 00:14:52,520
Speaker 1: of the first things you'll say is, oh my god,

332
00:14:52,520 --> 00:14:55,280
Speaker 1: I feel so bad, like I can't believe I no, no, no,

333
00:14:55,320 --> 00:14:57,360
Speaker 1: We're not going to use that language. How much do

334
00:14:57,360 --> 00:14:59,560
Speaker 1: you spend on groceries? You might go, oh, of it's

335
00:14:59,600 --> 00:15:02,320
Speaker 1: three hundre bucks a week and I'm a single. Were like, great,

336
00:15:02,400 --> 00:15:05,240
Speaker 1: no worries. Does that align with your values? And you

337
00:15:05,320 --> 00:15:09,480
Speaker 1: might go, yeah, it actually does because I run a podcast,

338
00:15:09,600 --> 00:15:12,960
Speaker 1: I'm really busy. I buy a lot of convenience meals,

339
00:15:13,040 --> 00:15:15,520
Speaker 1: I eat out a lot. I'm not worried about that

340
00:15:15,600 --> 00:15:19,000
Speaker 1: being a big expense. We might look at something else though,

341
00:15:19,280 --> 00:15:22,120
Speaker 1: that you're not using, that you don't get value out

342
00:15:22,160 --> 00:15:25,120
Speaker 1: of that you didn't realize added up, Like I'm not

343
00:15:25,360 --> 00:15:29,240
Speaker 1: an air forty five girl. Oh, like, I'm not throwing

344
00:15:29,520 --> 00:15:31,960
Speaker 1: forty five girlies under the bus. In fact, I'm really

345
00:15:32,080 --> 00:15:32,680
Speaker 1: envious with you.

346
00:15:32,880 --> 00:15:33,560
Speaker 5: Yeah mogment.

347
00:15:34,000 --> 00:15:39,119
Speaker 1: However, in Melbourne, I have heard from my own experience

348
00:15:39,800 --> 00:15:42,400
Speaker 1: that forty five is like seventy five to eighty dollars

349
00:15:42,440 --> 00:15:45,280
Speaker 1: a week. It's so actimitted to that because I was like,

350
00:15:45,280 --> 00:15:46,360
Speaker 1: if it's expensive, I'm.

351
00:15:46,200 --> 00:15:48,920
Speaker 2: Going to go Yeah, honestly no, about.

352
00:15:48,680 --> 00:15:51,760
Speaker 1: Every excuse under the sun not to do bur piers,

353
00:15:51,920 --> 00:15:54,320
Speaker 1: I was not going to do it. And then once

354
00:15:54,360 --> 00:15:56,640
Speaker 1: I calculated how much that was costing me per year,

355
00:15:56,680 --> 00:15:59,120
Speaker 1: I was like, absolutely not, that's got to go. So

356
00:15:59,160 --> 00:16:00,840
Speaker 1: if we sit down and we do our budget and

357
00:16:00,880 --> 00:16:03,920
Speaker 1: we actually look at it as in, is this aligning

358
00:16:03,960 --> 00:16:07,400
Speaker 1: with my values every single line item, not what works

359
00:16:07,440 --> 00:16:09,840
Speaker 1: for my friend, because my friend might be obsessed with

360
00:16:09,880 --> 00:16:12,400
Speaker 1: their forty five and she might also be a meal

361
00:16:12,480 --> 00:16:15,080
Speaker 1: prepping queen and she might look at my grocery budget

362
00:16:15,120 --> 00:16:18,840
Speaker 1: and be like you are crazy, like that's so irresponsible.

363
00:16:19,000 --> 00:16:21,000
Speaker 1: Not it's not. It's me living in line with the

364
00:16:21,080 --> 00:16:24,160
Speaker 1: values that I hold. Once we then have that complete

365
00:16:24,200 --> 00:16:26,880
Speaker 1: budget and we go all right, well, this is what

366
00:16:26,920 --> 00:16:30,080
Speaker 1: I'm doing. What are my goals? What am I trying

367
00:16:30,120 --> 00:16:32,200
Speaker 1: to achieve? And you might be trying to save for

368
00:16:32,200 --> 00:16:33,720
Speaker 1: a house, or you might be trying to, you know,

369
00:16:33,800 --> 00:16:35,480
Speaker 1: just get some cash in the bank so you have

370
00:16:35,520 --> 00:16:37,800
Speaker 1: an emergency fund, or you might be saving for a

371
00:16:37,840 --> 00:16:40,120
Speaker 1: girl's trip to Bali, or it might be anything. Right,

372
00:16:40,560 --> 00:16:42,440
Speaker 1: you might look at your budget and go, hmmm, that

373
00:16:42,560 --> 00:16:45,200
Speaker 1: thing that I really want to do, it's not gonna

374
00:16:45,240 --> 00:16:48,840
Speaker 1: happen if my lifestyle stays this way. What can I

375
00:16:48,920 --> 00:16:53,280
Speaker 1: comfortably then cut back without compromising my lifestyle too much?

376
00:16:53,600 --> 00:16:55,960
Speaker 1: You might go, all right, well, three hundred bucks on groceries,

377
00:16:56,040 --> 00:16:59,160
Speaker 1: it's a lot. Maybe I could just do one less

378
00:16:59,160 --> 00:17:01,880
Speaker 1: thing and buy I, you know, a quicker meal, or

379
00:17:01,920 --> 00:17:03,840
Speaker 1: I might make dinner once a week, and then that

380
00:17:03,880 --> 00:17:06,919
Speaker 1: additional cash can go somewhere else. So I'm not saying

381
00:17:07,560 --> 00:17:12,159
Speaker 1: stick to certain concepts or certain frameworks, because if we

382
00:17:12,240 --> 00:17:14,760
Speaker 1: google it, the average family in Australia is spending between

383
00:17:14,760 --> 00:17:17,320
Speaker 1: one hundred and fifty and two hundred dollars on groceries

384
00:17:17,320 --> 00:17:20,800
Speaker 1: each week. Average family. I spend way more than that.

385
00:17:20,840 --> 00:17:21,520
Speaker 1: As an individual.

386
00:17:21,560 --> 00:17:23,160
Speaker 2: I was just doing the math in my head.

387
00:17:23,359 --> 00:17:26,600
Speaker 1: I spend so much on that, And again the data

388
00:17:26,720 --> 00:17:29,679
Speaker 1: tells us that that's from the poverty line all the

389
00:17:29,680 --> 00:17:32,919
Speaker 1: way up to people who have millions to spend on groceries.

390
00:17:33,160 --> 00:17:35,919
Speaker 1: So that's not really representative. So if you look at

391
00:17:35,920 --> 00:17:37,320
Speaker 1: your budget and you're going, well, what should I be

392
00:17:37,320 --> 00:17:40,720
Speaker 1: spending Victoria, I can't tell you that, Yeah, because I

393
00:17:40,720 --> 00:17:43,080
Speaker 1: don't know your values. I don't know what aligns to

394
00:17:43,119 --> 00:17:45,520
Speaker 1: your goals. And as you were saying before, your homebody,

395
00:17:45,800 --> 00:17:48,520
Speaker 1: you're going to want to spend more on your rent.

396
00:17:48,800 --> 00:17:51,399
Speaker 1: I know somebody who's literally doing that fire you know,

397
00:17:51,480 --> 00:17:55,119
Speaker 1: financial independence, retire early, so they're saving like ninety percent

398
00:17:55,160 --> 00:17:58,720
Speaker 1: of their income. Their home is not a priority to them. Well,

399
00:17:58,920 --> 00:18:02,000
Speaker 1: I respect, but I could never do ever. I could

400
00:18:02,080 --> 00:18:04,160
Speaker 1: never because it's not in line with my values. We're

401
00:18:04,200 --> 00:18:07,159
Speaker 1: all so different. So when it comes to what's the

402
00:18:07,240 --> 00:18:09,680
Speaker 1: right way to budget, to be honest, I think my

403
00:18:09,800 --> 00:18:12,359
Speaker 1: system of what you earn, what you spend, what you own,

404
00:18:12,400 --> 00:18:15,280
Speaker 1: and what you owe and understanding those four numbers I

405
00:18:15,320 --> 00:18:17,840
Speaker 1: do have you know, shameless plug free budget on my

406
00:18:17,880 --> 00:18:20,600
Speaker 1: website doesn't cost you anything, download it, do it. But

407
00:18:20,720 --> 00:18:23,360
Speaker 1: that's just so you can get a hold of those numbers.

408
00:18:23,640 --> 00:18:26,480
Speaker 1: Because the second you know those, you're so much more powerful.

409
00:18:26,520 --> 00:18:28,840
Speaker 1: Like if you could tell me, and I guarantee right

410
00:18:28,880 --> 00:18:31,480
Speaker 1: now you could probably both tell me, on average what

411
00:18:31,560 --> 00:18:33,840
Speaker 1: you earn each month. You could say, yeah, we take

412
00:18:33,880 --> 00:18:37,520
Speaker 1: home X, but you probably couldn't tell me how many

413
00:18:37,560 --> 00:18:41,359
Speaker 1: dollars leave your bank account on average. You probably couldn't

414
00:18:41,359 --> 00:18:44,320
Speaker 1: tell me the other three numbers that I say are imperortant.

415
00:18:44,359 --> 00:18:45,040
Speaker 1: So you could tell me.

416
00:18:45,000 --> 00:18:46,520
Speaker 2: What you own, Okay, Victoria, stop expecting?

417
00:18:47,880 --> 00:18:49,560
Speaker 1: Do you know? And what do you own? And if

418
00:18:49,560 --> 00:18:51,920
Speaker 1: you have those four numbers, it's kind of like creating

419
00:18:51,920 --> 00:18:54,480
Speaker 1: and coordinates on a map and you know exactly where

420
00:18:54,480 --> 00:18:56,640
Speaker 1: you are and where you want to go and what

421
00:18:56,680 --> 00:18:59,040
Speaker 1: that looks like, and we can create a plan because

422
00:18:59,080 --> 00:19:01,880
Speaker 1: I genuinely think if we don't know where we're starting

423
00:19:01,920 --> 00:19:04,440
Speaker 1: from and we can't be honest with ourselves about that,

424
00:19:04,920 --> 00:19:06,400
Speaker 1: how are we going to get to where we're going

425
00:19:06,480 --> 00:19:10,000
Speaker 1: if we can't draw the map. So it's it's a

426
00:19:10,000 --> 00:19:12,320
Speaker 1: bit more fluffy, and I think a little bit more kind,

427
00:19:12,359 --> 00:19:13,080
Speaker 1: and I do think.

428
00:19:12,960 --> 00:19:15,119
Speaker 2: But I think that's nicer. It's not like, Okay, this

429
00:19:15,240 --> 00:19:18,640
Speaker 2: is the exact percentage you're transferring to savings and doing this,

430
00:19:18,720 --> 00:19:22,640
Speaker 2: because that becomes like just not really achievable. I think

431
00:19:22,680 --> 00:19:24,199
Speaker 2: a lot of the time, and I really like that

432
00:19:24,240 --> 00:19:27,000
Speaker 2: approach of being like, yeah, but I like, you know,

433
00:19:27,280 --> 00:19:30,280
Speaker 2: eating out at least like one to two nights a week,

434
00:19:30,359 --> 00:19:32,040
Speaker 2: So like, does that work with what I want to do?

435
00:19:32,080 --> 00:19:33,760
Speaker 2: If I do want to go to Barley next month

436
00:19:33,840 --> 00:19:35,320
Speaker 2: or if I want to go to Europe next year,

437
00:19:35,320 --> 00:19:36,440
Speaker 2: which I really do.

438
00:19:37,240 --> 00:19:41,960
Speaker 1: We really want to compromise, right, Unfortunately our incomes are

439
00:19:42,080 --> 00:19:43,320
Speaker 1: limited and.

440
00:19:43,440 --> 00:19:44,679
Speaker 3: Which what's up with that.

441
00:19:46,720 --> 00:19:54,480
Speaker 1: Elbow man bode But because they have some level of

442
00:19:54,680 --> 00:19:58,399
Speaker 1: like cap, our goals have to have compromise. So you

443
00:19:58,560 --> 00:20:02,320
Speaker 1: might love eating out, but that's the compromise you're making.

444
00:20:02,359 --> 00:20:04,560
Speaker 1: And I think the most important part about that is

445
00:20:04,600 --> 00:20:07,040
Speaker 1: not me just saying, oh, you need to compromise and

446
00:20:07,040 --> 00:20:09,800
Speaker 1: you going, well, that sucks. What you need to compromise

447
00:20:10,000 --> 00:20:12,560
Speaker 1: is one thing for another. But if you're making that

448
00:20:12,640 --> 00:20:15,480
Speaker 1: and you're clean and clear and educated about that, you're

449
00:20:15,520 --> 00:20:17,440
Speaker 1: going to be happy eating at home because you're getting

450
00:20:17,480 --> 00:20:20,439
Speaker 1: something that, to you is more valuable going to Bali

451
00:20:20,480 --> 00:20:22,360
Speaker 1: with your girlfriends. If it means one more night at

452
00:20:22,359 --> 00:20:25,040
Speaker 1: home is going to be so much easier to do.

453
00:20:25,119 --> 00:20:26,800
Speaker 1: It's going to be so much easier to stick to.

454
00:20:27,200 --> 00:20:29,679
Speaker 1: If you're really passionate about this, and I think so

455
00:20:29,760 --> 00:20:32,720
Speaker 1: many times people fall off I guess the horse so

456
00:20:32,880 --> 00:20:37,360
Speaker 1: quickly because they set goals that they just are influenced

457
00:20:37,359 --> 00:20:40,080
Speaker 1: to set. Like a lot of people who say I'm

458
00:20:40,119 --> 00:20:42,480
Speaker 1: saving for my first home, I'm like, why though, do

459
00:20:42,480 --> 00:20:45,800
Speaker 1: you actually want that? Because you're not really tracking towards

460
00:20:46,320 --> 00:20:49,440
Speaker 1: this value set. Your values are actually over here. And

461
00:20:49,480 --> 00:20:51,320
Speaker 1: the amount of people because I used to do this

462
00:20:51,400 --> 00:20:54,200
Speaker 1: thing called the Hour of Power, right and I'd sit

463
00:20:54,240 --> 00:20:56,520
Speaker 1: you down, I'd make you give me all of your expenses,

464
00:20:56,560 --> 00:20:59,560
Speaker 1: and I would to smash through your budget, your cash flow,

465
00:20:59,680 --> 00:21:01,639
Speaker 1: tell you exactly what you're earning, what you were spending,

466
00:21:01,640 --> 00:21:03,560
Speaker 1: would go through your goals. I'd set you up and

467
00:21:03,600 --> 00:21:07,360
Speaker 1: be like, okay, well now you need to do abc DN.

468
00:21:07,680 --> 00:21:09,880
Speaker 2: People would be like look, yeah, they'd be like, oh shit.

469
00:21:09,960 --> 00:21:12,320
Speaker 1: But sometimes I'd sit down with people and their goals

470
00:21:12,320 --> 00:21:14,520
Speaker 1: would be you know, let's just be really scary to

471
00:21:14,720 --> 00:21:15,840
Speaker 1: I want to buy a house, want to say for

472
00:21:15,880 --> 00:21:17,399
Speaker 1: a car, I want to have a wedding. Yeah, all right,

473
00:21:17,520 --> 00:21:21,359
Speaker 1: no worries. I am pretty sure your values are vapes, babe,

474
00:21:21,760 --> 00:21:29,120
Speaker 1: because sit down, if I sit down and do your budget,

475
00:21:29,560 --> 00:21:30,720
Speaker 1: all of your money is.

476
00:21:30,640 --> 00:21:33,480
Speaker 5: Going to going out and spending money on vapes.

477
00:21:33,240 --> 00:21:39,119
Speaker 2: Right, and then just like ow so many faces, it's not.

478
00:21:39,000 --> 00:21:40,919
Speaker 1: A bad thing. It's actually none.

479
00:21:40,800 --> 00:21:43,040
Speaker 2: Of us vaping.

480
00:21:43,280 --> 00:21:50,119
Speaker 1: Like, yeah, but if you sit down and look at

481
00:21:50,119 --> 00:21:51,600
Speaker 1: your budget and that's where a lot of your cash

482
00:21:51,600 --> 00:21:54,560
Speaker 1: flow is going, I'm sorry, but you care more about

483
00:21:54,600 --> 00:21:56,520
Speaker 1: that than you do the goals you just taught me about.

484
00:21:56,800 --> 00:21:58,320
Speaker 1: And if you then want to argue with me, I'll

485
00:21:58,320 --> 00:22:00,960
Speaker 1: be like, that's fine, but sometimes I speak a little.

486
00:22:00,760 --> 00:22:02,600
Speaker 2: Bit y yeah words, what are you going to do.

487
00:22:02,600 --> 00:22:05,560
Speaker 1: To change that? And if you can't change that, maybe

488
00:22:05,600 --> 00:22:07,560
Speaker 1: we need to dig deeper into that. It's probably not

489
00:22:07,600 --> 00:22:10,720
Speaker 1: the vapes promise. It's probably the lifestyle. It's probably the

490
00:22:10,760 --> 00:22:13,600
Speaker 1: social aspect. It's probably all of those things that we

491
00:22:13,640 --> 00:22:17,280
Speaker 1: need to, you know, deconstruct to understand why you're not

492
00:22:17,320 --> 00:22:19,720
Speaker 1: achieving these other goals. Do we need to change the

493
00:22:19,760 --> 00:22:23,240
Speaker 1: way you're socializing? Are your friends are they actually really

494
00:22:23,240 --> 00:22:25,960
Speaker 1: good for you or not? Like there's just so much

495
00:22:26,040 --> 00:22:28,240
Speaker 1: to it where if you tell me what your value

496
00:22:28,240 --> 00:22:31,880
Speaker 1: sets are, that when we overlay them over how you

497
00:22:31,960 --> 00:22:35,720
Speaker 1: spend sometimes they're not reflective and that's where we get

498
00:22:35,720 --> 00:22:38,159
Speaker 1: a bit of misalignment and we might feel really lost.

499
00:22:38,240 --> 00:22:40,720
Speaker 1: We might feel like we're not achieving anything, or we're

500
00:22:40,720 --> 00:22:43,280
Speaker 1: not working towards anything, or you get this narrative of

501
00:22:43,480 --> 00:22:46,480
Speaker 1: like I can't save I suck at it. It's like no, babe,

502
00:22:46,680 --> 00:22:49,240
Speaker 1: Like you just haven't thought enough about it to actually

503
00:22:49,240 --> 00:22:52,199
Speaker 1: create this clean, clear plan that aligns with who you

504
00:22:52,240 --> 00:22:54,600
Speaker 1: are and who you are at nineteen very different to

505
00:22:54,600 --> 00:22:55,000
Speaker 1: who you are.

506
00:22:55,359 --> 00:22:57,720
Speaker 2: You need to tough love yourself a little bit.

507
00:22:57,840 --> 00:23:00,280
Speaker 4: Yeah, yeah, yeah, And because it is really hard looking

508
00:23:00,320 --> 00:23:03,640
Speaker 4: at your expenses especially, and our next question was going

509
00:23:03,640 --> 00:23:04,080
Speaker 4: to be.

510
00:23:04,000 --> 00:23:07,160
Speaker 3: How do you break down your paycheck?

511
00:23:07,400 --> 00:23:09,520
Speaker 4: Like should you be looking at it like, for example,

512
00:23:09,560 --> 00:23:12,720
Speaker 4: forty percent towards rant, Yeah.

513
00:23:13,119 --> 00:23:14,760
Speaker 1: That's what we've been with percentages.

514
00:23:14,840 --> 00:23:16,840
Speaker 2: Do you think the same with savings, Like do you

515
00:23:16,880 --> 00:23:19,840
Speaker 2: think you should be like in terms of people thinking

516
00:23:19,880 --> 00:23:22,919
Speaker 2: they should save a certain amount per month? Like is

517
00:23:22,960 --> 00:23:25,800
Speaker 2: that also? Like yeah, just like whatever is align with

518
00:23:25,840 --> 00:23:27,000
Speaker 2: your values.

519
00:23:26,960 --> 00:23:29,000
Speaker 1: I think it's really in line with your values. And

520
00:23:29,040 --> 00:23:31,400
Speaker 1: I believe again, as I said, I'm a little bit

521
00:23:31,480 --> 00:23:34,320
Speaker 1: fluffy about money, and I think it's important.

522
00:23:34,440 --> 00:23:35,880
Speaker 2: I don't think it's fluffy though.

523
00:23:35,880 --> 00:23:37,960
Speaker 1: What kind of is It's like me trying to overlay

524
00:23:38,000 --> 00:23:40,600
Speaker 1: my psychology degrees with my finance degrees and being like,

525
00:23:40,680 --> 00:23:41,480
Speaker 1: I know who you are.

526
00:23:41,800 --> 00:23:44,000
Speaker 2: But that's the thing is people need to be like

527
00:23:44,119 --> 00:23:47,119
Speaker 2: realistic in what they can do. Because I think that

528
00:23:47,320 --> 00:23:50,920
Speaker 2: was the thing that I was really bad at savings,

529
00:23:50,960 --> 00:23:53,800
Speaker 2: I say in quotation marks, because I was trying to

530
00:23:53,840 --> 00:23:56,639
Speaker 2: save an amount that just was not like I could

531
00:23:56,680 --> 00:23:59,600
Speaker 2: save that amount, but I didn't want to because I

532
00:23:59,640 --> 00:24:01,919
Speaker 2: wanted to go out with friends. I wanted to you know,

533
00:24:02,200 --> 00:24:04,240
Speaker 2: go online shopping. I wanted to do all those things.

534
00:24:04,280 --> 00:24:06,160
Speaker 2: So the amount that I was trying to save did

535
00:24:06,200 --> 00:24:07,920
Speaker 2: not match the things that I want in my life,

536
00:24:07,960 --> 00:24:10,440
Speaker 2: which is now everything's a lining and I think you're

537
00:24:10,440 --> 00:24:11,320
Speaker 2: not making sense.

538
00:24:11,560 --> 00:24:14,280
Speaker 1: Yeah, And I think that's where the fluffy thing comes in, right, So,

539
00:24:14,400 --> 00:24:17,679
Speaker 1: like I believe in seasons of life, like there are

540
00:24:17,720 --> 00:24:20,199
Speaker 1: seasons in the year. You can't always have winter, you

541
00:24:20,240 --> 00:24:22,680
Speaker 1: can't always have summer. And obviously we have a little

542
00:24:22,680 --> 00:24:24,440
Speaker 1: bit of a preference for what we want and how

543
00:24:24,480 --> 00:24:27,480
Speaker 1: it works, but in life we go through different seasons.

544
00:24:27,840 --> 00:24:30,800
Speaker 1: And if you tell people or you should be saving

545
00:24:30,840 --> 00:24:33,760
Speaker 1: ten percent of your salary, if you then got someone

546
00:24:33,760 --> 00:24:36,399
Speaker 1: who was earning four hundred thousand dollars, I'd look at

547
00:24:36,400 --> 00:24:39,280
Speaker 1: you and go, why aren't you saving more? If you

548
00:24:39,400 --> 00:24:42,479
Speaker 1: got a single mom earning forty thousand dollars, I'd be like,

549
00:24:42,640 --> 00:24:46,199
Speaker 1: my friend, it makes sense that you cannot say you

550
00:24:46,240 --> 00:24:48,760
Speaker 1: should not have that pressure on you. You're a single

551
00:24:48,840 --> 00:24:51,560
Speaker 1: mom absolutely killing it. You're doing the best thing that

552
00:24:51,600 --> 00:24:53,840
Speaker 1: you possibly can with the tools and resources you have.

553
00:24:54,280 --> 00:24:57,600
Speaker 1: That life is not forever like, that's a season of

554
00:24:57,640 --> 00:24:59,479
Speaker 1: your life that you're going through, And I think that

555
00:24:59,480 --> 00:25:01,760
Speaker 1: that's where we need to be a lot kinder to

556
00:25:01,840 --> 00:25:04,959
Speaker 1: ourselves to say, well, maybe there are times in my

557
00:25:04,960 --> 00:25:07,880
Speaker 1: life you might be a young UNI student killing it,

558
00:25:08,000 --> 00:25:10,840
Speaker 1: working an extra job and doing UNI and it's all

559
00:25:10,880 --> 00:25:13,720
Speaker 1: overwhelming and you don't feel like you're getting ahead. Can

560
00:25:13,760 --> 00:25:16,399
Speaker 1: we be a little bit pragmatic about writing down why

561
00:25:16,480 --> 00:25:19,520
Speaker 1: maybe that's the case. It might be because you're working

562
00:25:19,560 --> 00:25:22,600
Speaker 1: a minimum wage job to get through university and that

563
00:25:22,840 --> 00:25:26,440
Speaker 1: job's job is actually to put food on your care

564
00:25:26,600 --> 00:25:29,399
Speaker 1: and a roof over your head, and savings aren't actually

565
00:25:29,480 --> 00:25:33,239
Speaker 1: part of this journey right now, because it's unrealistic, And

566
00:25:33,280 --> 00:25:36,680
Speaker 1: I think that we need to be really kind to ourselves.

567
00:25:37,000 --> 00:25:40,280
Speaker 1: Whereas if you said to me, oh, Victoria four hundred

568
00:25:40,359 --> 00:25:42,919
Speaker 1: thousand dollar lawyer, I'd be like, Okay, cool, I can

569
00:25:42,960 --> 00:25:45,879
Speaker 1: craft a plan that makes sense forty thousand dollar. A

570
00:25:45,880 --> 00:25:48,320
Speaker 1: mom can craft a plan that makes sense. But it's

571
00:25:48,359 --> 00:25:51,800
Speaker 1: all really circumstantial based on what you're earning, what your

572
00:25:51,840 --> 00:25:55,560
Speaker 1: commitments are, and how that's going to play out. Because

573
00:25:55,600 --> 00:25:57,920
Speaker 1: I think by saying, oh, you probably should spend around

574
00:25:58,000 --> 00:26:00,919
Speaker 1: twenty percent, that's not going to work for everybody. And

575
00:26:00,960 --> 00:26:05,560
Speaker 1: there's this very popular finance content creator that doesn't wear

576
00:26:05,560 --> 00:26:12,640
Speaker 1: any shoes. Really, I wear really good shoes. He has

577
00:26:12,680 --> 00:26:16,480
Speaker 1: this brilliant system that has completely changed Australia. Like Scott

578
00:26:16,520 --> 00:26:19,040
Speaker 1: Pape is a genius. So the Barefoot Investor is I

579
00:26:19,080 --> 00:26:23,320
Speaker 1: think one of the best finance resources in the country. However,

580
00:26:23,880 --> 00:26:26,960
Speaker 1: I have a few things that don't really work for

581
00:26:27,000 --> 00:26:31,000
Speaker 1: my community because he does suggest a percentage based system,

582
00:26:31,320 --> 00:26:33,560
Speaker 1: and he does suggest a whole heap of stuff that

583
00:26:33,600 --> 00:26:36,679
Speaker 1: I go Actually, my community are young and educated and

584
00:26:36,720 --> 00:26:39,800
Speaker 1: have time on their side. Some of these things don't work,

585
00:26:40,280 --> 00:26:43,480
Speaker 1: and like, if you're at a higher tax bracket, why

586
00:26:43,520 --> 00:26:46,160
Speaker 1: would you only save a certain amount and then splurge

587
00:26:46,200 --> 00:26:49,760
Speaker 1: that much? And I know that these things. People love structure,

588
00:26:49,840 --> 00:26:53,160
Speaker 1: They love being told what to do because the structure

589
00:26:53,600 --> 00:26:55,880
Speaker 1: is often what we crave. So I can see why

590
00:26:55,920 --> 00:27:00,600
Speaker 1: it works, but sometimes starting there is great save x amount.

591
00:27:00,920 --> 00:27:04,640
Speaker 1: If that system of percentages works for you have practiced

592
00:27:04,680 --> 00:27:06,760
Speaker 1: at it, once you feel confident with it, maybe let's

593
00:27:06,760 --> 00:27:09,840
Speaker 1: look at it more holistically and go, well, actually, what's

594
00:27:09,880 --> 00:27:11,600
Speaker 1: going to work for my value set? What's going to

595
00:27:11,600 --> 00:27:13,000
Speaker 1: work for the goals that I have and what I

596
00:27:13,040 --> 00:27:16,600
Speaker 1: want to create? Because as much as his book is brilliant,

597
00:27:16,880 --> 00:27:19,639
Speaker 1: it is written for people in their forties who have

598
00:27:19,760 --> 00:27:22,919
Speaker 1: not cared about financial literacy yet, and the plan is

599
00:27:23,119 --> 00:27:27,199
Speaker 1: to get one home and retire comfortably and rely on

600
00:27:27,240 --> 00:27:29,920
Speaker 1: a pension. Yeah, and I guarantee that if I sat

601
00:27:29,960 --> 00:27:31,359
Speaker 1: you down and said what of your life goals? What

602
00:27:31,400 --> 00:27:32,840
Speaker 1: do you want to do, you'd be like, I want

603
00:27:32,880 --> 00:27:35,159
Speaker 1: to be financially free by this year. I want to

604
00:27:35,200 --> 00:27:37,000
Speaker 1: do this, I want to do that. That's not the

605
00:27:37,040 --> 00:27:39,680
Speaker 1: system for you. That it's a brilliant place to start

606
00:27:39,680 --> 00:27:41,199
Speaker 1: to get out of debt, to put yourself in the

607
00:27:41,200 --> 00:27:43,840
Speaker 1: best possible position, but it's kind of like we need

608
00:27:43,880 --> 00:27:45,680
Speaker 1: to level up at some point, we need to take

609
00:27:45,720 --> 00:27:49,080
Speaker 1: it to that situation where it's really encompassing your goals,

610
00:27:49,119 --> 00:27:51,520
Speaker 1: your values, what you want to create and as much

611
00:27:51,520 --> 00:27:54,119
Speaker 1: as you too keep finishing your sentences, and like you

612
00:27:54,160 --> 00:27:56,720
Speaker 1: are two peas in a pod, you will have different

613
00:27:56,760 --> 00:27:59,480
Speaker 1: goals and different values. So even if I sat down

614
00:27:59,480 --> 00:28:01,640
Speaker 1: with your buddy and looked at yours and then looked

615
00:28:01,640 --> 00:28:04,639
Speaker 1: at yours, they hopefully would be really different. And I

616
00:28:04,640 --> 00:28:07,080
Speaker 1: wouldn't ever want you to compare because what you spent

617
00:28:07,160 --> 00:28:09,120
Speaker 1: on food might not be what you spent on food,

618
00:28:09,119 --> 00:28:10,160
Speaker 1: and that's so fine.

619
00:28:10,200 --> 00:28:16,679
Speaker 2: It'd be surprised. It's very alive, but yeah, definitely. So

620
00:28:17,000 --> 00:28:19,280
Speaker 2: this one was a very common question that we get

621
00:28:19,280 --> 00:28:22,879
Speaker 2: from our audience a lot. And in your own short

622
00:28:22,920 --> 00:28:26,240
Speaker 2: and sweet answer, how do we stop buying every new

623
00:28:26,320 --> 00:28:29,240
Speaker 2: viral product that's coming up on our TikTok? Because social

624
00:28:29,320 --> 00:28:33,520
Speaker 2: media just teach me our over consumption that we're like,

625
00:28:34,200 --> 00:28:34,960
Speaker 2: do you new jacket?

626
00:28:35,400 --> 00:28:38,960
Speaker 1: Laptop light? It clips onto the top of my laptop.

627
00:28:39,000 --> 00:28:42,760
Speaker 1: Found it on tiktop, See, I've got it, It's in

628
00:28:42,760 --> 00:28:45,800
Speaker 1: my fridge. So one of the things that I teach

629
00:28:46,160 --> 00:28:47,600
Speaker 1: is you can have it all, you just can't have

630
00:28:47,600 --> 00:28:51,320
Speaker 1: it all at once. And my favorite way of starting

631
00:28:51,400 --> 00:28:54,360
Speaker 1: to implement that is putting twenty four hours between you

632
00:28:54,400 --> 00:28:56,720
Speaker 1: and your spending. So what we're going to do. Is

633
00:28:56,880 --> 00:29:00,640
Speaker 1: you really want the viral clip on laptop? Lamb? She

634
00:29:00,720 --> 00:29:02,000
Speaker 1: looks so good on zoom.

635
00:29:02,080 --> 00:29:05,400
Speaker 2: I can imagine I don't even need to have this,

636
00:29:05,800 --> 00:29:07,680
Speaker 2: like like.

637
00:29:07,680 --> 00:29:09,560
Speaker 1: No, I don't need that. I've got this light. It's

638
00:29:09,560 --> 00:29:14,960
Speaker 1: the Alex Earl life. Oh yeah, yes, obviously understand.

639
00:29:15,200 --> 00:29:17,880
Speaker 2: Yeah, and she I'm like, if I get this light,

640
00:29:17,960 --> 00:29:19,680
Speaker 2: oh look exactly like Alex Earl.

641
00:29:20,160 --> 00:29:22,120
Speaker 1: Do you know what my following is going to skyrockets.

642
00:29:22,960 --> 00:29:26,680
Speaker 1: I'm going to become so engaging, it's going to be insane.

643
00:29:26,800 --> 00:29:30,440
Speaker 2: Do you see how UNI now offers the Alex Earl Scholarship?

644
00:29:31,000 --> 00:29:33,360
Speaker 5: Really? Oh yeah, I am my god.

645
00:29:33,480 --> 00:29:37,800
Speaker 1: Honestly, like complete pivot from conversation. She has taken her

646
00:29:37,880 --> 00:29:41,320
Speaker 1: following and her influence and really harnessed that. I'm so

647
00:29:41,360 --> 00:29:44,400
Speaker 1: glad she's done that. I hope she actually goes down

648
00:29:44,840 --> 00:29:47,040
Speaker 1: a route of like education and teaching people how to

649
00:29:47,080 --> 00:29:49,720
Speaker 1: study and teaching people how to like just be better.

650
00:29:49,720 --> 00:29:53,080
Speaker 1: Like she's one of those pretty content creators that I

651
00:29:53,080 --> 00:29:54,560
Speaker 1: think has so much opportunity.

652
00:29:54,640 --> 00:29:56,280
Speaker 2: Yeah, I'm obsessed with her As a fellow Alex. I

653
00:29:56,360 --> 00:30:01,240
Speaker 2: feel completely inadequate and I'm like, oh god, it's fine, x. Yeah,

654
00:30:01,280 --> 00:30:03,520
Speaker 2: I'm an ex she's an IX. It's fine, different people.

655
00:30:04,360 --> 00:30:06,440
Speaker 1: But we're gonna put twenty four hours between us and

656
00:30:06,480 --> 00:30:09,200
Speaker 1: our spending. So I'm not saying no, we're saying just

657
00:30:09,200 --> 00:30:11,600
Speaker 1: not right now. So you might cut and paste the

658
00:30:11,760 --> 00:30:13,240
Speaker 1: URL and put it in the notes section of your

659
00:30:13,280 --> 00:30:14,960
Speaker 1: phone and we'll go back and look at it later.

660
00:30:15,320 --> 00:30:17,520
Speaker 1: You might just save the video and go back and

661
00:30:17,560 --> 00:30:20,520
Speaker 1: look at it later. Minimum twenty four hours. I can

662
00:30:20,560 --> 00:30:23,400
Speaker 1: guarantee two things. You either realize that you really want

663
00:30:23,400 --> 00:30:25,320
Speaker 1: that thing, or you forgot that you put it in

664
00:30:25,320 --> 00:30:26,600
Speaker 1: your notes happen, we don't buy it.

665
00:30:26,840 --> 00:30:28,080
Speaker 2: Yeah, so it's.

666
00:30:27,960 --> 00:30:31,080
Speaker 1: One of two. And the longer you can wait, because

667
00:30:31,120 --> 00:30:35,640
Speaker 1: obviously delayed gratification for human beings is hard, The longer

668
00:30:35,640 --> 00:30:38,080
Speaker 1: you can wait, the better I get it. I'm impulsive.

669
00:30:38,280 --> 00:30:41,880
Speaker 1: It's twenty twenty three. I want something yesterday. I don't

670
00:30:41,960 --> 00:30:44,240
Speaker 1: understand way if I order things online, they're not just

671
00:30:44,280 --> 00:30:45,000
Speaker 1: at my doors.

672
00:30:45,040 --> 00:30:47,840
Speaker 2: Like when the shipping doesn't come the next day, you're like, what, Yeah.

673
00:30:47,800 --> 00:30:48,960
Speaker 5: I plaied for express?

674
00:30:49,040 --> 00:30:53,280
Speaker 1: What do you mean three business days? Sorry, these expectations

675
00:30:53,280 --> 00:30:55,360
Speaker 1: that I made up in my head are not being met.

676
00:30:55,600 --> 00:30:57,720
Speaker 5: I agree, so rude.

677
00:30:57,800 --> 00:31:00,280
Speaker 1: But the longer you can leave it, the more likely

678
00:31:00,280 --> 00:31:02,520
Speaker 1: you are to make a balanced decision that's actually right

679
00:31:02,560 --> 00:31:05,160
Speaker 1: for your financial future. And I think by saying don't

680
00:31:05,160 --> 00:31:06,840
Speaker 1: look on Instagram, I live there.

681
00:31:07,000 --> 00:31:07,239
Speaker 3: I am.

682
00:31:07,560 --> 00:31:08,520
Speaker 1: I live on TikTok.

683
00:31:08,760 --> 00:31:11,720
Speaker 2: Do what I did, though, I did unfollow, like I'm

684
00:31:11,720 --> 00:31:14,680
Speaker 2: pretty sure every fashion brand that I did follow, like

685
00:31:14,760 --> 00:31:17,040
Speaker 2: I and followed all of them, because what would happen

686
00:31:17,120 --> 00:31:18,520
Speaker 2: is I'd be scrolling and be like, oh, I love

687
00:31:18,560 --> 00:31:21,440
Speaker 2: that dress or like whatever it was, and I would

688
00:31:21,480 --> 00:31:23,920
Speaker 2: just immediately go by, or i'd see the sale like

689
00:31:24,160 --> 00:31:26,520
Speaker 2: it'd be like thousands of products up to eighty percent off,

690
00:31:26,560 --> 00:31:30,000
Speaker 2: and I'd be like, say less, And once I unfollowed

691
00:31:30,040 --> 00:31:33,680
Speaker 2: all of them, like I really just stopped that spending amount.

692
00:31:33,720 --> 00:31:36,120
Speaker 2: Like I really just stopped spending as much as I was.

693
00:31:36,240 --> 00:31:39,000
Speaker 2: And when I needed something, then I went searching for it.

694
00:31:39,040 --> 00:31:41,800
Speaker 2: When I was like, okay, like that, I don't know,

695
00:31:42,560 --> 00:31:45,280
Speaker 2: long sleevetop has seen better days, it's time for like

696
00:31:45,360 --> 00:31:48,120
Speaker 2: a new playing black long sleeve that's like a basic

697
00:31:48,200 --> 00:31:50,680
Speaker 2: that I know I'm gonna wear all the time. Then

698
00:31:51,200 --> 00:31:53,480
Speaker 2: that's like I would go searching for that then, But

699
00:31:53,520 --> 00:31:55,800
Speaker 2: it was only when I needed something, rather than just

700
00:31:55,840 --> 00:31:57,480
Speaker 2: having something pop up and I'd be like, oh, I

701
00:31:57,520 --> 00:31:59,959
Speaker 2: should buy that, but TikTok's a whole different ballgame. God,

702
00:32:01,000 --> 00:32:01,479
Speaker 2: no control.

703
00:32:01,760 --> 00:32:03,600
Speaker 4: I know, want to miss out on the sale, that's

704
00:32:03,600 --> 00:32:05,880
Speaker 4: the thing. You're like, no, but I am wasting money.

705
00:32:06,040 --> 00:32:09,360
Speaker 1: But know you do because I guarantee there's always going

706
00:32:09,440 --> 00:32:11,720
Speaker 1: to be another sales. There's always going to be another sale,

707
00:32:11,720 --> 00:32:13,560
Speaker 1: There's always going to be a better deal. And I

708
00:32:13,560 --> 00:32:17,640
Speaker 1: think we're so pressured into buying immediately. Speaking of TikTok,

709
00:32:17,720 --> 00:32:20,440
Speaker 1: do you know who I've started following, not individually, like

710
00:32:20,520 --> 00:32:22,760
Speaker 1: this is not one person, but you know the group

711
00:32:22,840 --> 00:32:25,800
Speaker 1: or the cohort of people that I've started following that

712
00:32:25,840 --> 00:32:33,760
Speaker 1: I'm obsessed with women over fifty.

713
00:32:31,400 --> 00:32:32,160
Speaker 3: Tell me everything.

714
00:32:32,320 --> 00:32:36,760
Speaker 1: So like Chelsea Fagan, who is a TikToker, taught me

715
00:32:36,800 --> 00:32:38,239
Speaker 1: this concept and she was like, do you know who

716
00:32:38,280 --> 00:32:41,560
Speaker 1: I love? I only now new follows, only women over fifty.

717
00:32:41,800 --> 00:32:44,360
Speaker 1: They have their lives together, whether they're single or in

718
00:32:44,800 --> 00:32:46,880
Speaker 1: a relationship. They're not going to sell your product because

719
00:32:46,960 --> 00:32:49,440
Speaker 1: they don't care anymore. They're just about living their lives.

720
00:32:49,480 --> 00:32:52,960
Speaker 1: They'll give you, they'll teach you how to socialize better,

721
00:32:53,000 --> 00:32:55,560
Speaker 1: they'll teach you home tips. Like I was like, I'm here,

722
00:32:55,720 --> 00:32:57,880
Speaker 1: I'm there, give it to me. They're like the fifty

723
00:32:57,960 --> 00:33:02,200
Speaker 1: year olds you want to become. I'm not iul spending anymore.

724
00:33:02,280 --> 00:33:04,280
Speaker 1: I'm just like looking at my own values and like, wow,

725
00:33:04,280 --> 00:33:07,160
Speaker 1: when I'm fifty, I better look this hot like it

726
00:33:07,200 --> 00:33:07,520
Speaker 1: makes you.

727
00:33:07,760 --> 00:33:10,880
Speaker 2: It puts let's your evening skincare.

728
00:33:11,200 --> 00:33:14,280
Speaker 3: It's giving, like Samantha Jones. That's what I want to

729
00:33:14,280 --> 00:33:16,080
Speaker 3: be when I grow up, you know exactly.

730
00:33:16,160 --> 00:33:20,000
Speaker 1: So my basically, my entire TikTok feed now is like dogs.

731
00:33:20,280 --> 00:33:22,640
Speaker 1: It's real random cat videos and women over the age

732
00:33:22,640 --> 00:33:23,880
Speaker 1: of fifty and I'm here for.

733
00:33:23,800 --> 00:33:28,360
Speaker 4: It and alex El alex El of course always always.

734
00:33:29,080 --> 00:33:32,520
Speaker 4: So we've spoken about how a lot of people in

735
00:33:32,560 --> 00:33:36,000
Speaker 4: their twenties are spending, like struggling to even just save

736
00:33:36,320 --> 00:33:39,360
Speaker 4: any money or pay the rent or buy groceries. So

737
00:33:39,600 --> 00:33:42,720
Speaker 4: it sometimes seems like a lot to expect us to

738
00:33:42,800 --> 00:33:46,480
Speaker 4: also get into investing, which has been a huge conversation

739
00:33:46,560 --> 00:33:48,400
Speaker 4: over the last like five to ten years for people

740
00:33:48,400 --> 00:33:51,680
Speaker 4: in their twenties. Do you think it's worth investing in

741
00:33:51,720 --> 00:33:53,680
Speaker 4: your twenties and looking into that or is it.

742
00:33:56,240 --> 00:33:57,720
Speaker 3: Okay? Where do we see the hell?

743
00:33:59,280 --> 00:34:01,360
Speaker 1: We're going to take some pressure off ourselves right, We're

744
00:34:01,400 --> 00:34:02,920
Speaker 1: gonna be like, all right, if you don't have the

745
00:34:02,920 --> 00:34:06,080
Speaker 1: capacity to do that, don't do it. Let's tick off

746
00:34:06,080 --> 00:34:08,320
Speaker 1: some hygiene factors. First of all, we're in a cost

747
00:34:08,320 --> 00:34:11,480
Speaker 1: of living crisis, so if you're struggling, please stop putting

748
00:34:11,480 --> 00:34:14,759
Speaker 1: more pressure on yourself like it is not helpful. It's

749
00:34:14,800 --> 00:34:17,480
Speaker 1: not putting anybody in a better position. It's actually making

750
00:34:17,560 --> 00:34:22,040
Speaker 1: you feel like trash about yourself. So let's not do that. Secondly,

751
00:34:23,040 --> 00:34:26,600
Speaker 1: investing nowadays, twenty plus years ago used to have minimum

752
00:34:26,600 --> 00:34:29,440
Speaker 1: investment amounts, so you might need one thousand dollars to

753
00:34:29,440 --> 00:34:34,480
Speaker 1: start your journey. That's completely unfathomable these days, however, there

754
00:34:34,520 --> 00:34:36,480
Speaker 1: are you know, and this is not a product plug.

755
00:34:36,520 --> 00:34:38,640
Speaker 1: I just kind of love the concept that you can

756
00:34:38,640 --> 00:34:40,960
Speaker 1: invest with as little as one cent. So there's a

757
00:34:40,960 --> 00:34:43,319
Speaker 1: platform called shares Is that you could have a look at.

758
00:34:43,520 --> 00:34:46,080
Speaker 1: There's also a million other platforms that you could invest with.

759
00:34:46,440 --> 00:34:49,480
Speaker 1: But nowadays investing is so accessible. So if you're in

760
00:34:49,520 --> 00:34:52,279
Speaker 1: a situation where you're financially so cure enough and you

761
00:34:52,320 --> 00:34:54,480
Speaker 1: have a few extra dollars that you would like to

762
00:34:54,560 --> 00:34:57,680
Speaker 1: invest with, I think it's a fantastic thing to start

763
00:34:57,680 --> 00:35:00,719
Speaker 1: in your twenties, even if it's not large. Ma, And

764
00:35:00,760 --> 00:35:03,560
Speaker 1: I say this because I think it's an investment into

765
00:35:03,600 --> 00:35:07,200
Speaker 1: your financial literacy. So let's say the free cash flow

766
00:35:07,239 --> 00:35:09,360
Speaker 1: you have each and every single month is five bucks.

767
00:35:09,600 --> 00:35:11,640
Speaker 1: You might look at me and be like, ve, that's

768
00:35:11,719 --> 00:35:14,080
Speaker 1: not worth it, Like you can't even buy an oat

769
00:35:14,120 --> 00:35:19,120
Speaker 1: latte in Melbourne anymore, which is true, it's absolutely true.

770
00:35:19,480 --> 00:35:22,560
Speaker 1: But what if you're at the start of your twenties

771
00:35:22,600 --> 00:35:28,040
Speaker 1: and you spend ten years investing five dollars a promise.

772
00:35:28,080 --> 00:35:29,759
Speaker 1: It's not going to be enough to retire with. In fact,

773
00:35:29,760 --> 00:35:31,120
Speaker 1: it's probably not even going to be enough at the

774
00:35:31,200 --> 00:35:32,960
Speaker 1: end of that ten years for you to buy a car.

775
00:35:33,320 --> 00:35:35,960
Speaker 1: But look how educated you are. Look how confident you

776
00:35:36,040 --> 00:35:39,279
Speaker 1: are with the share market. Look what you've done for yourself.

777
00:35:39,520 --> 00:35:42,200
Speaker 1: You now understand how to buy shares, how to trade shares,

778
00:35:42,239 --> 00:35:44,840
Speaker 1: what the market looks like over a ten year period.

779
00:35:45,120 --> 00:35:48,040
Speaker 1: You are so confident that when you get that next

780
00:35:48,040 --> 00:35:50,440
Speaker 1: pay rise and you're adding more to it, it starts

781
00:35:50,480 --> 00:35:53,920
Speaker 1: to really compound. So five dollars might go to fifteen,

782
00:35:54,200 --> 00:35:56,680
Speaker 1: and fifteen might go to fifty, and fifty goes to

783
00:35:56,719 --> 00:35:59,080
Speaker 1: five hundred, and all of a sudden, you you're.

784
00:35:59,200 --> 00:36:02,799
Speaker 5: Rich, I started. You're richer than Kim coume.

785
00:36:03,000 --> 00:36:04,440
Speaker 2: Yeah, happens.

786
00:36:05,160 --> 00:36:06,720
Speaker 5: I'm pretty sure I've been waited.

787
00:36:07,160 --> 00:36:10,359
Speaker 1: I actually need to call the ASX because it hasn't happened.

788
00:36:10,040 --> 00:36:10,640
Speaker 5: For me years.

789
00:36:10,800 --> 00:36:13,640
Speaker 1: Yeah, I've been investing for ten years. Yeah, But it's

790
00:36:13,640 --> 00:36:16,440
Speaker 1: about that confidence. It's about actually starting to dip your

791
00:36:16,440 --> 00:36:19,920
Speaker 1: toes into the water, because investing, I think the hardest

792
00:36:19,960 --> 00:36:23,400
Speaker 1: thing is that analysis paralysis at the start. Where do

793
00:36:23,440 --> 00:36:24,279
Speaker 1: I start? What do I do?

794
00:36:24,640 --> 00:36:25,160
Speaker 2: It? Download?

795
00:36:25,440 --> 00:36:28,280
Speaker 1: You forget it, you ignore it. In fact, every single

796
00:36:28,320 --> 00:36:31,200
Speaker 1: person listening to this podcast who is employed has a

797
00:36:31,200 --> 00:36:35,560
Speaker 1: superannuation fund. You are already an investor. Why aren't you

798
00:36:35,680 --> 00:36:38,920
Speaker 1: caring about that super? It's eleven percent now as of

799
00:36:39,040 --> 00:36:42,760
Speaker 1: July first this year, you now get eleven percent super.

800
00:36:42,760 --> 00:36:44,520
Speaker 1: It's gone up from nine point five and it will

801
00:36:44,520 --> 00:36:47,560
Speaker 1: continue to go up until I think it's July twenty

802
00:36:47,640 --> 00:36:50,600
Speaker 1: twenty five goes to twelve percent super.

803
00:36:51,080 --> 00:36:51,640
Speaker 2: Wow.

804
00:36:52,000 --> 00:36:54,880
Speaker 1: Most of us cannot afford to save ten percent of

805
00:36:54,920 --> 00:36:57,479
Speaker 1: our incomes, yet we are doing that within the tax

806
00:36:57,520 --> 00:37:00,680
Speaker 1: structure of superannuation. So why aren't we caring about that

807
00:37:00,760 --> 00:37:02,880
Speaker 1: money as much as we can't access it at sixty

808
00:37:02,960 --> 00:37:05,880
Speaker 1: until sixty five. At this point, I'm pretty sure it

809
00:37:05,920 --> 00:37:08,239
Speaker 1: will still go up again, but we can't access it.

810
00:37:08,280 --> 00:37:10,879
Speaker 1: But it's your money. You've got complete control over it,

811
00:37:11,000 --> 00:37:12,960
Speaker 1: and you can learn from that. You can grow, you

812
00:37:12,960 --> 00:37:16,000
Speaker 1: can change, And I think that that's it's so important

813
00:37:16,000 --> 00:37:19,239
Speaker 1: to care about. Oh no, I'm learning, Like isn't that

814
00:37:19,320 --> 00:37:22,440
Speaker 1: cool to think that in ten years you might just

815
00:37:22,480 --> 00:37:24,120
Speaker 1: be like, oh no, I know what this is, and

816
00:37:24,200 --> 00:37:26,440
Speaker 1: actually that ATF doesn't perform as well as this. Like

817
00:37:26,480 --> 00:37:30,960
Speaker 1: you you get education by exposure. It's like you know,

818
00:37:31,000 --> 00:37:32,560
Speaker 1: when you went to UNI or I don't even know

819
00:37:32,560 --> 00:37:34,520
Speaker 1: if you guys went to UNI, but I did, and

820
00:37:34,680 --> 00:37:36,719
Speaker 1: it was the worst one hundred thousand dollars I ever said.

821
00:37:37,120 --> 00:37:38,920
Speaker 2: Yep, one because a piece of paper.

822
00:37:39,360 --> 00:37:41,560
Speaker 1: I don't use either or sorry, I don't use any

823
00:37:41,600 --> 00:37:44,640
Speaker 1: of my degrees. I now live in podcast land, so

824
00:37:44,800 --> 00:37:47,399
Speaker 1: that was a waste of time. But also I learned

825
00:37:47,400 --> 00:37:50,680
Speaker 1: most of my stuff on the job through same So

826
00:37:50,920 --> 00:37:53,719
Speaker 1: investing is exactly the same. You can read about it.

827
00:37:53,719 --> 00:37:55,440
Speaker 1: You could pick up my investing book, you could pick

828
00:37:55,520 --> 00:37:57,319
Speaker 1: up every investing book under the sun. You could read

829
00:37:57,320 --> 00:38:01,200
Speaker 1: them all. Those are the textbooks. Doing it as different,

830
00:38:01,400 --> 00:38:06,720
Speaker 1: doing that journey of feeling confident and connected and going, oh, actually,

831
00:38:06,800 --> 00:38:08,759
Speaker 1: if I do this, this happens, and if I do that,

832
00:38:08,760 --> 00:38:11,480
Speaker 1: that happens. Like you could know all the technical stuff.

833
00:38:11,640 --> 00:38:14,200
Speaker 1: You could be the smartest kid at school and the

834
00:38:14,239 --> 00:38:18,080
Speaker 1: worst intern. Like it happens all the time. So I

835
00:38:18,120 --> 00:38:21,239
Speaker 1: think it's really important to just dive in give it

836
00:38:21,280 --> 00:38:23,319
Speaker 1: a crack. If you can invest for as little as

837
00:38:23,360 --> 00:38:25,960
Speaker 1: one cent, why can't we test it with a coffee.

838
00:38:26,000 --> 00:38:29,560
Speaker 1: I've spilt heaps of coffees over Like I spill coffees,

839
00:38:29,600 --> 00:38:31,520
Speaker 1: I buy them, I put them on my desk, I

840
00:38:31,560 --> 00:38:33,520
Speaker 1: let them go cold, I tip them out. I could

841
00:38:33,560 --> 00:38:35,839
Speaker 1: have invested five bucks and learn a little bit.

842
00:38:36,280 --> 00:38:37,480
Speaker 3: Yeah, I love that.

843
00:38:38,080 --> 00:38:41,200
Speaker 4: Also, it's way less risky making mistakes and learning along

844
00:38:41,200 --> 00:38:44,000
Speaker 4: the way with five bucks than it is when you,

845
00:38:44,000 --> 00:38:45,759
Speaker 4: you know, find yourself with a bunch of cash that

846
00:38:45,800 --> 00:38:48,799
Speaker 4: you could be making a serious investment, like you'd rather

847
00:38:48,920 --> 00:38:52,080
Speaker 4: learn learn the mistakes with the one cent investment exactly.

848
00:38:52,080 --> 00:38:54,600
Speaker 1: And I think it's a massive misconception where people think

849
00:38:54,640 --> 00:38:57,080
Speaker 1: if I start investing, it means I have to have

850
00:38:57,239 --> 00:38:57,960
Speaker 1: a lot of money.

851
00:38:58,400 --> 00:39:00,600
Speaker 2: That's what I always thought, you don't.

852
00:39:00,760 --> 00:39:03,080
Speaker 1: And it goes back to this, This is so stereotypical,

853
00:39:03,120 --> 00:39:05,359
Speaker 1: so I do promise to not pull out too many

854
00:39:05,360 --> 00:39:08,920
Speaker 1: more like Instagram quotes from twenty sixteen. But if you

855
00:39:09,120 --> 00:39:12,680
Speaker 1: can't manage ten dollars, you can't manage ten thousand, and

856
00:39:12,680 --> 00:39:15,240
Speaker 1: you're sure as hell cannot manage one hundred thousand dollars.

857
00:39:15,360 --> 00:39:19,160
Speaker 1: But it's true, learn as you grow. And there's this

858
00:39:19,239 --> 00:39:21,719
Speaker 1: story that I love bringing out, and I'll try and

859
00:39:21,760 --> 00:39:23,920
Speaker 1: tell you it as quickly as possible because it's in

860
00:39:23,960 --> 00:39:26,560
Speaker 1: my first book. I had a client, let's call him Jim.

861
00:39:26,640 --> 00:39:28,680
Speaker 1: I have permission to talk about that. He's one of

862
00:39:28,680 --> 00:39:31,560
Speaker 1: my favorite clients. I inherited him from an ex financial

863
00:39:31,560 --> 00:39:33,840
Speaker 1: advisor that retired and I got him and he was

864
00:39:33,880 --> 00:39:37,000
Speaker 1: like at retirement age. He and his wife had an

865
00:39:37,040 --> 00:39:40,439
Speaker 1: income combined income because she didn't work three kids, she'd

866
00:39:40,480 --> 00:39:42,440
Speaker 1: always been a state at home mum. He worked in

867
00:39:42,520 --> 00:39:45,280
Speaker 1: all of the skyscrapers in the city, like just doing maintenance,

868
00:39:45,320 --> 00:39:48,680
Speaker 1: running around changing lightlobes, seventy grand a year. He has

869
00:39:48,719 --> 00:39:51,960
Speaker 1: retired in a better position than my client who was

870
00:39:52,000 --> 00:39:54,640
Speaker 1: a barrister, and this high school teacher who had a

871
00:39:54,640 --> 00:39:57,560
Speaker 1: combined income of more than half a million dollars. He

872
00:39:57,600 --> 00:40:00,279
Speaker 1: has retired in a better position than two the two

873
00:40:00,280 --> 00:40:02,719
Speaker 1: people who have arguably what you'd say is like a

874
00:40:02,760 --> 00:40:07,560
Speaker 1: real luck's lifestyle because he invested consistently over the long term. Wow,

875
00:40:07,640 --> 00:40:11,040
Speaker 1: he now has an investment portfolio, you know, invested in

876
00:40:11,080 --> 00:40:14,280
Speaker 1: super like put away? What he could? You know, times change,

877
00:40:14,320 --> 00:40:16,920
Speaker 1: seasons happened when kids were at school, he couldn't do

878
00:40:16,960 --> 00:40:19,360
Speaker 1: too much. But then once the kids graduated, he was

879
00:40:19,400 --> 00:40:22,200
Speaker 1: like squirreling away more. He now has an income of

880
00:40:22,239 --> 00:40:24,439
Speaker 1: about one hundred and twenty thousand dollars a year from

881
00:40:24,440 --> 00:40:28,280
Speaker 1: his investment portfolio, and he's used to earning seventy thousand.

882
00:40:28,520 --> 00:40:30,720
Speaker 1: When I used to be his advisor, he'd always be like, Victoria,

883
00:40:30,760 --> 00:40:33,160
Speaker 1: what do I do with this money? And I'm like, Jim,

884
00:40:33,320 --> 00:40:34,840
Speaker 1: you guys could buy a new caravan?

885
00:40:35,160 --> 00:40:38,520
Speaker 5: Yeah, really really a brand new one.

886
00:40:38,760 --> 00:40:43,799
Speaker 1: Yep, capacity Like you can absolutely do that. Whereas this

887
00:40:43,920 --> 00:40:47,080
Speaker 1: other couple who I took on as a brand new client.

888
00:40:47,200 --> 00:40:48,919
Speaker 1: Do you know why I got them? Their daughter listened

889
00:40:48,960 --> 00:40:50,440
Speaker 1: to she's on the money and was that mom and dad,

890
00:40:50,560 --> 00:40:53,280
Speaker 1: but I love that you need to get it together,

891
00:40:53,400 --> 00:40:56,399
Speaker 1: go see this advisor. And they did, and like they're

892
00:40:56,400 --> 00:40:59,280
Speaker 1: gonna be okay now. But for them to achieve exactly

893
00:40:59,320 --> 00:41:01,879
Speaker 1: the same outcome, we had to cut their lifestyle back

894
00:41:02,280 --> 00:41:06,319
Speaker 1: so significantly that they had to invest, you know, with

895
00:41:06,440 --> 00:41:10,000
Speaker 1: me through their investment portfolio, about fifteen thousand dollars a

896
00:41:10,120 --> 00:41:12,640
Speaker 1: month to achieve the same goal that Gym did. Wow,

897
00:41:12,760 --> 00:41:15,000
Speaker 1: Jill wouldn't have done that, but because he had done

898
00:41:15,040 --> 00:41:17,439
Speaker 1: it his whole life, like since his early twenties, because

899
00:41:17,440 --> 00:41:21,040
Speaker 1: you know, he's like what my parents' age, I reckon. Yeah,

900
00:41:21,239 --> 00:41:23,640
Speaker 1: so like back then, you got married in your early twenties,

901
00:41:23,640 --> 00:41:26,000
Speaker 1: you had babies, like you, it was a different life.

902
00:41:26,320 --> 00:41:29,919
Speaker 1: But it's the lesson that from little things, big things grow.

903
00:41:30,040 --> 00:41:32,760
Speaker 1: And it's genuinely not about what you're earning. It's about

904
00:41:32,760 --> 00:41:34,480
Speaker 1: what you can save and what you do with the

905
00:41:34,480 --> 00:41:37,520
Speaker 1: money the wealth you can create, because it's crazy to

906
00:41:37,560 --> 00:41:39,919
Speaker 1: think that it can change that much. And that's why

907
00:41:39,920 --> 00:41:41,640
Speaker 1: I like telling that story, because you both go, oh

908
00:41:41,640 --> 00:41:44,360
Speaker 1: my god, like seventy grand a year and he achieved that.

909
00:41:44,400 --> 00:41:47,680
Speaker 1: It's like, well yeah, because he was consistent. It's not

910
00:41:47,760 --> 00:41:50,120
Speaker 1: about how much money you have, it's actually about how

911
00:41:50,160 --> 00:41:53,360
Speaker 1: long you can invest for because every ten year or

912
00:41:53,520 --> 00:41:56,280
Speaker 1: seven to ten years, technically your money doubles.

913
00:41:56,520 --> 00:41:57,920
Speaker 2: Yeah, well when you have.

914
00:41:57,880 --> 00:41:59,799
Speaker 1: One hundred grand, the next year you're gonna have two hundred,

915
00:41:59,800 --> 00:42:02,719
Speaker 1: then two hundred and four hundred, and it just goes wild. Yeah,

916
00:42:02,719 --> 00:42:03,520
Speaker 1: and that's sexy.

917
00:42:03,880 --> 00:42:06,200
Speaker 2: I love that our final question is always like, what's

918
00:42:06,200 --> 00:42:08,759
Speaker 2: your biggest like life lesson that you could give the

919
00:42:08,840 --> 00:42:14,280
Speaker 2: chicks about no budgeting on money. But I'm like, that's it, Jim.

920
00:42:14,560 --> 00:42:16,359
Speaker 1: We love a medioca middle aged white man.

921
00:42:16,600 --> 00:42:17,040
Speaker 2: Yeah.

922
00:42:17,160 --> 00:42:20,000
Speaker 1: No, I think it's it's care about it sooner. Yeah,

923
00:42:20,040 --> 00:42:24,440
Speaker 1: and stop thinking it's about lifestyle compromise because I used

924
00:42:24,480 --> 00:42:27,040
Speaker 1: to be in forty four thousand dollars worth of personal debt.

925
00:42:27,440 --> 00:42:29,319
Speaker 1: I am not the person that is going to sit

926
00:42:29,400 --> 00:42:31,160
Speaker 1: up here and be like I've always been good at money.

927
00:42:31,239 --> 00:42:33,759
Speaker 1: I'm a bloody genius. Like listen to me because I'm

928
00:42:33,760 --> 00:42:35,799
Speaker 1: so smart. No, listen to me because I know you,

929
00:42:35,800 --> 00:42:38,360
Speaker 1: because I am you. I still struggle with money. I

930
00:42:38,400 --> 00:42:42,160
Speaker 1: have ADHD. I am the most impulsive person you've ever met.

931
00:42:42,320 --> 00:42:44,919
Speaker 1: Like ask anybody in my team that always like what

932
00:42:44,960 --> 00:42:47,520
Speaker 1: the heck and like sometimes they need.

933
00:42:47,400 --> 00:42:50,160
Speaker 2: To literally here right.

934
00:42:50,080 --> 00:42:53,360
Speaker 4: Now, just like oh yeah, like can go a bam.

935
00:42:53,360 --> 00:42:57,080
Speaker 1: Oh like you say TikTok advertising, Like I am the

936
00:42:57,160 --> 00:43:01,279
Speaker 1: target audience. I am keeping tiktoking like they come over

937
00:43:01,360 --> 00:43:03,319
Speaker 1: every week. Do you know what My recent purchase was

938
00:43:04,560 --> 00:43:07,680
Speaker 1: a nugget ice machine that I had to import from

939
00:43:07,719 --> 00:43:12,319
Speaker 1: the US and buy a universal like Converse for the

940
00:43:12,400 --> 00:43:15,279
Speaker 1: power cost me more than fifteen hundred bucks by the end.

941
00:43:15,200 --> 00:43:20,920
Speaker 5: Of that Like, I regret nothing. I regret nothing. Oh

942
00:43:21,160 --> 00:43:25,480
Speaker 5: my god, let me live my values. O Ya don't know, Jay.

943
00:43:25,440 --> 00:43:27,680
Speaker 1: But I think we need to share these things and

944
00:43:27,760 --> 00:43:29,520
Speaker 1: be honest about it, because money is a journey. Like,

945
00:43:29,560 --> 00:43:32,520
Speaker 1: money's not easy. Money is confronting and hard. And if

946
00:43:32,560 --> 00:43:36,120
Speaker 1: you've grown up in a family where money wasn't abundant,

947
00:43:36,320 --> 00:43:37,960
Speaker 1: do you know what this conversation is going to make

948
00:43:38,000 --> 00:43:39,800
Speaker 1: you feel so sick in the pit of your stomach

949
00:43:39,880 --> 00:43:42,480
Speaker 1: because that's overwhelming and it doesn't feel good. You might

950
00:43:42,520 --> 00:43:45,520
Speaker 1: earn really great money now, but you still don't invest

951
00:43:45,840 --> 00:43:48,799
Speaker 1: because you're overwhelmed and squirreling away money is what you

952
00:43:48,880 --> 00:43:51,080
Speaker 1: do to make yourself feel comfortable. And it doesn't matter

953
00:43:51,160 --> 00:43:53,160
Speaker 1: how much money you squirrel away if you don't address

954
00:43:53,200 --> 00:43:55,040
Speaker 1: the fact that that's making you feel sick, and your

955
00:43:55,040 --> 00:43:58,439
Speaker 1: money story is such that you can't grow. I don't

956
00:43:58,440 --> 00:44:00,279
Speaker 1: care how much you have in savings I prom you're

957
00:44:00,280 --> 00:44:02,880
Speaker 1: never going to feel comfortable. I've met so many people

958
00:44:02,920 --> 00:44:05,920
Speaker 1: as well who have grown up with wealth. Mummy and

959
00:44:06,000 --> 00:44:07,879
Speaker 1: daddy gave you a credit card and they just tap.

960
00:44:07,920 --> 00:44:10,200
Speaker 1: They end up in ultimate debt. They still don't care

961
00:44:10,480 --> 00:44:12,640
Speaker 1: because they're like, ah, money comes and goes, it doesn't

962
00:44:12,640 --> 00:44:15,680
Speaker 1: worry me at all. So I think it's really importantly

963
00:44:16,800 --> 00:44:17,840
Speaker 1: it would be nice.

964
00:44:17,840 --> 00:44:19,360
Speaker 5: I can't be nice.

965
00:44:19,600 --> 00:44:22,040
Speaker 1: Yeah, I think it's really important to just understand you

966
00:44:22,080 --> 00:44:24,720
Speaker 1: where you come from, what you do, what are your goals,

967
00:44:24,840 --> 00:44:27,560
Speaker 1: and make sure that they're not being influenced by somebody else.

968
00:44:27,840 --> 00:44:30,600
Speaker 1: Your best friends might be buying a house. I feel

969
00:44:30,600 --> 00:44:33,600
Speaker 1: like every single time I open Instagram there's a new

970
00:44:33,680 --> 00:44:35,920
Speaker 1: picture of a couple standing in front of a SOULD

971
00:44:36,000 --> 00:44:39,600
Speaker 1: sign with a big yellow sticker. You don't know anything

972
00:44:39,640 --> 00:44:41,680
Speaker 1: about their life. You don't know if they got help.

973
00:44:41,719 --> 00:44:43,719
Speaker 1: You don't know if they're in debt that's making them

974
00:44:43,840 --> 00:44:46,040
Speaker 1: argue every single day. You don't know if that was

975
00:44:46,080 --> 00:44:48,160
Speaker 1: their goal full life and they've been saving since they

976
00:44:48,200 --> 00:44:51,279
Speaker 1: were five, Like, you don't know. Stop comparing yourself, and

977
00:44:51,320 --> 00:44:52,600
Speaker 1: I think that that's the lesson.

978
00:44:53,040 --> 00:44:55,439
Speaker 2: Oh that's amazing. Well, thank you so much for joining

979
00:44:55,520 --> 00:44:58,440
Speaker 2: us today on Too Broad Chicks. That was really like,

980
00:44:58,680 --> 00:45:01,279
Speaker 2: what's the word I'm looking for? But that was so

981
00:45:01,440 --> 00:45:03,839
Speaker 2: refreshing in the way that you talk about money. It's

982
00:45:03,880 --> 00:45:06,640
Speaker 2: really achievable, it's really relatable, and I think there's so

983
00:45:06,719 --> 00:45:09,080
Speaker 2: many chicks that just maybe feel a little bit lighter

984
00:45:09,200 --> 00:45:09,840
Speaker 2: after hearing this.

985
00:45:12,400 --> 00:45:13,080
Speaker 3: Like a breathe.

986
00:45:13,320 --> 00:45:15,640
Speaker 1: Money doesn't have to be hard, but it feels hard.

987
00:45:15,800 --> 00:45:19,320
Speaker 2: Yeah. Yeah, Well, thank you Jan so much, and thanks

988
00:45:19,320 --> 00:45:21,120
Speaker 2: to your chicks for having us in your ear holes.

989
00:45:21,160 --> 00:45:23,920
Speaker 2: We absolutely love to be here. Shout out to Producy

990
00:45:24,080 --> 00:45:27,080
Speaker 2: for hosting us today for the podcast, and m I

991
00:45:27,160 --> 00:45:29,520
Speaker 2: k Made for making this episode of Two Broad Chicks happen.

992
00:45:29,600 --> 00:45:32,920
Speaker 2: Thanks so much again, Victoria, thanks for having me guys cheeks.