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Speaker 1: She's on the Money. She's on the Money.

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Speaker 2: Hello, and welcome to She's on the Money, the podcast

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Speaker 2: for millennials who want financial freedom. Today is Friday, Guys,

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Speaker 2: it means it is time to sit back with our

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Speaker 2: friends with a bev in hand, to unpack our favorite

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Speaker 2: moments of the week, and of course, to celebrate you

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Speaker 2: the incredible She's on the Money community. As always, we

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Speaker 2: are going to be sharing our favorite wins. We are

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Speaker 2: going to be discussing what is making news in the

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Speaker 2: finance world, and we'll be helping to answer a juicy

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Speaker 2: money question all about managing your partner's money when maybe

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Speaker 2: they're not as responsible as they'd like to be. So

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Speaker 2: just before we get there, Jessica Ricci, can you please

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Speaker 2: take us through what happened on Money Diaries this way?

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Speaker 3: Oh my goodness, Monday's episode was quite the journey. We

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Speaker 3: spoke to a beautiful.

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Speaker 2: Diariss It was. It was wild. Really, I was not prepared.

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Speaker 3: She had lived in many, many countries and done so

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Speaker 3: many brilliant things, but she had also just dug herself

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Speaker 3: into this whole of debt, and she took us through

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Speaker 3: her journey that spanned literally five or six years and

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Speaker 3: took us right through.

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Speaker 2: Her and five contents. Five contents took.

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Speaker 3: Her through her emotions, her feelings, how that played out.

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Speaker 3: She had to do some things she said that at

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Speaker 3: the time she you know, didn't want to or wasn't

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Speaker 3: proud of, but you know, she pushed through, she persevered,

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Speaker 3: she did what she had to, and her and her

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Speaker 3: partner have actually just recently moved to Australia, which is

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Speaker 3: really fun and exciting. And after all of that, she's

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Speaker 3: now looking to buy property, which I think is just incredible.

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Speaker 2: I found this story honestly a bit of a rollercoaster.

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Speaker 2: I would be lying if I said it didn't give

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Speaker 2: me anxiety when she was explaining it all and how

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Speaker 2: different debts were in different currencies, and then she moved

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Speaker 2: to Vietnam, so she was being paid in dong but

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Speaker 2: then owed money in Australia. And I cannot, like I

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Speaker 2: already struggle when I go overseas guys and have to

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Speaker 2: remember the currency conversions, like I suck at stuff like that.

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Speaker 2: In fact, I'm the one that goes overseas and goes

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Speaker 2: a little bit unprepared. You know how, if you were

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Speaker 2: jessic Ici, you'd already know, like whitchcard had what transfer fee,

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Speaker 2: Like I'm the absolute nim wit that believes that they

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Speaker 2: have no international transaction fees and then get stung with

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Speaker 2: the like really high conversion rate, like I am a potato,

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Speaker 2: So I cannot imagine having to deal with debt internationally

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Speaker 2: Like that just sounds terrifying. But the fact that she's

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Speaker 2: out of it and she's on the right path and

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Speaker 2: she's literally earning six figures in her dream job, now,

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Speaker 2: like just what she was incredible. I was obsessed.

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Speaker 3: She was super cool. She raised some really interesting points,

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Speaker 3: as you said, around like the cost of sending money

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Speaker 3: back home and the conversions and the tax and things

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Speaker 3: that I personally had never thought about as someone who's

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Speaker 3: not half as ventress as she is. So definitely well

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Speaker 3: worth the listen if you're interested.

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Speaker 2: I feel like Georgie is just as adventurous. But George,

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Speaker 2: you haven't been in personal debt, so you can't relate

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Speaker 2: to that. But you would go and live in a

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Speaker 2: million different countries on a whim.

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Speaker 4: I feel, oh if I could if COVID wasn't a thing.

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Speaker 2: But I feel we like COVID. We like it because

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Speaker 2: we got to keep Georgia King.

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Speaker 4: But no, I feel like I'm more like you Vikid.

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Speaker 4: I'm more scattered when it comes to like understanding, well, actually,

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Speaker 4: you totally understand the financial ramifications of tax and what

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Speaker 4: you're doing. But I wouldn't be as organized as Jess.

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Speaker 2: Oh yeah, No, I get that. It's currency conversion that

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Speaker 2: gets me overseas, like I get tax. I get the

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Speaker 2: ramifications of that, like Lord knows, I know. But it's

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Speaker 2: when you go overseas and you're like, don't want to

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Speaker 2: think about it too much, and you're like, whatever, I'll

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Speaker 2: just pop it on my card or I'll just go

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Speaker 2: to this ATM and get some money out, and like

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Speaker 2: that's a very privileged thing to say, I feel, but

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Speaker 2: I just had never considered it. And I remember coming

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Speaker 2: home from Bali one time. I was there for a

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Speaker 2: work conference and I came home and I was like,

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Speaker 2: what is all of this? Like I couldn't work out

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Speaker 2: what the exchange rate charges were and why they were

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Speaker 2: so much money on my debit card. It just turns

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Speaker 2: out like they might not have had any fees, but

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Speaker 2: they definitely had the exchange rate.

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Speaker 5: Cool from me.

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Speaker 2: Cool from me. But moving on from Monday's episode, George King,

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Speaker 2: what did we talk about on Wednesday's Deep.

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Speaker 5: Dive Victoria Devine?

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Speaker 4: Look, it wasn't maybe as interesting as that money diary,

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Speaker 4: because that does sound quite fascinating. We spoke about mortgage refinancing.

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Speaker 2: Joy to the world. No, I feel like it's exciting.

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Speaker 3: It can save you money.

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Speaker 5: Yeah, exactly, well done, Jess.

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Speaker 2: Look, it can save you money and it can be

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Speaker 2: really sexy. And I mean we didn't say it on

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Speaker 2: the episode, but we do have some very exciting news

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Speaker 2: around the refinancing mortgage broking space coming up soon for Zella,

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Speaker 2: So keep your eyes in ears peeled. But I find

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Speaker 2: it sexy. I was joking just then. But George, what

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Speaker 2: did we talk about? What would the take?

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Speaker 4: Well, we spoke about what it is, and for anyone

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Speaker 4: who is completely unaware, it's basically just transferring your home

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Speaker 4: loan from one bank or Linda to another, or perhaps

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Speaker 4: refinancing with the bank you are currently with, to essentially

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Speaker 4: get a better deal, meaning your repayments are.

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Speaker 5: Lower, the life of your loan may.

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Speaker 4: Be shorter, and there's lots of perks, but there also

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Speaker 4: are somethings to be mindful of. And we did run

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Speaker 4: through the common mistakes that people make when refinancing, So

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Speaker 4: if you're interested, give it a listen.

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Speaker 2: I feel like everybody thinks that refinancing is like the

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Speaker 2: smartest thing to do if you've got a mortgage, like

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Speaker 2: you should do it every year, but you can actually

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Speaker 2: end up shooting yourself in the foot. So if you

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Speaker 2: are one of those people, go listen to the episode,

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Speaker 2: because it turns out, guys, I have an opinion and

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Speaker 2: I shared it on the podcast, so weird. But moving on, George,

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Speaker 2: because I don't want to talk about me anymore jokes.

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Speaker 2: I always want to talk about me, George. What happened

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Speaker 2: in the Facebook group this week? What are the money

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Speaker 2: wins that you are going to showcase?

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Speaker 4: I've got some belts as always, they're quite long as well,

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Speaker 4: so brace yourselves, my friends. The first win of the

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Speaker 4: week comes from Jacqueline So. She had booked a hotel

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Speaker 4: room for her besties hens party, but then realized booking

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Speaker 4: dot Com was actually on shot back, so Ben she yeah,

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Speaker 4: I know, So she canceled her original booking through booking

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Speaker 4: dot Com and rebooked via shot back to score sixty

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Speaker 4: dollars back in her pocket. Sixty dollars is better than

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Speaker 4: no dollars, she wrote shot back.

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Speaker 2: Also money win for them. They got to mention on

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Speaker 2: two podcasts. This week She's on the Money podcast Exactly

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Speaker 2: everyone wins, Yes, hit them up, let them know.

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Speaker 4: The final part of that win was that she also

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Speaker 4: found her pet food store on there, so you bet

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Speaker 4: she now orders all her dogs needs. Fia shot back

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Speaker 4: on the same website. Genius lovely, what a genius. The

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Speaker 4: next win that comes from Mirn. She has been trying

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Speaker 4: to cut out her sushi and uber It's orders for

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Speaker 4: a while now, but she's just never quite been able

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Speaker 4: to give it up for good. She decided this year

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Speaker 4: that instead of going cold turkey, she teach herself how

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Speaker 4: to make it at home once a week. It's been

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Speaker 4: three weeks since her last uber eats, which is saving

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Speaker 4: her between thirty and forty dollars each time. So what

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Speaker 4: she has made is sushi. She's taught herself how to

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Speaker 4: create everyone's favorite little Japanese dish so clever.

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Speaker 2: Oh my gosh, I love that. I feel like that's

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Speaker 2: far more complex than we actually give it credit as well,

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Speaker 2: like sushi, rice is on a different level and I

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Speaker 2: can't cook rice without burning the bottom of the pot,

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Speaker 2: so we take sure every time. I always make sure

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Speaker 2: there's extra rice in the pot so that that burnt

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Speaker 2: bit still happen and I just get the good rice

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Speaker 2: off the top. Yeah. That's that's how Victoria cooks. That

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Speaker 2: is why I do finance.

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Speaker 6: Not food.

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Speaker 4: She also attached a really cute photo of the sush So,

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Speaker 4: I don't know, look out sushi Sushi.

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Speaker 5: There could be a new chef in town. Okay.

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Speaker 4: Our next win is from Ali, so this is actually

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Speaker 4: more of a PSA for the girlies rather than a

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Speaker 4: win of her own. So she was discussing some frugal

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Speaker 4: tips with her girlfriends over the weekend and she thought

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Speaker 4: she'd share them with us, which we love. So if

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Speaker 4: she is wanting to purchase a product but there isn't

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Speaker 4: a readily available discount, she'll hit up the brand's Instagram

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Speaker 4: and go through the tag posts until she finds a

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Speaker 4: current influencer code and then she'll use that.

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Speaker 5: Yeah how smart.

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Speaker 2: That's actually so smart. Also, that influencer is very grateful. Yeah,

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Speaker 2: and I'm sure for you using their code. Wait, why

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Speaker 2: does that wear? It's because the influencer will then get

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Speaker 2: like paid more or do they get more off, what's

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Speaker 2: you guys are both influencers. Yeah, but most of the

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Speaker 2: time when I get a code, I'm not getting paid

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Speaker 2: for it. It just tells the business that I'm working

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Speaker 2: with that you're in their code is working, and that

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Speaker 2: like it worked. And it's very nice when you know

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Speaker 2: a brand has taken their time out to maybe send

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Speaker 2: me a product. Like our friends the LSKD Jess they

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Speaker 2: send us active where sometimes and we both get that

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Speaker 2: and so they share a code and I really like

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Speaker 2: when I know my community using it because it's like, guys,

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Speaker 2: they sent me free activewear, and you're like letting them

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Speaker 2: know that it worked. So I don't know, I just

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Speaker 2: really like it.

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Speaker 4: This is unrelated guys, but they sent me stuff too.

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Speaker 4: They are so actressed. I was like, oh, I'm not

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Speaker 4: going to boast about it because I have two followers, but.

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Speaker 2: Solid, oh my gosh, the little she's on the money

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Speaker 2: LSKD group like, oh my gosh, Yess, we need to

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Speaker 2: hit them up. Can you imagine wait for it, Peach

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Speaker 2: active wear. They've never done it.

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Speaker 3: DM them a little while ago about they showed like

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Speaker 3: men's past or stuff and I was like, please tell

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Speaker 3: me it's coming. In women's You know, I'm totally going

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Speaker 3: to send her a dam and be like, hey, is

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Speaker 3: that a thing? Because I would wear Peach activewear.

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Speaker 2: I don't understand who wouldn't wear Peach active wear. It

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Speaker 2: has to be the right Peach. So we'll need to

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Speaker 2: work really closely with you guys to make sure it

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Speaker 2: is the right Peach. But you know, Jess and I

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Speaker 2: were willing. We're willing and able. Can you imagine I'll

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Speaker 2: put my bees on the money activewear? It could be

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Speaker 2: all brand yep, we will keep it eye hopefully coming

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Speaker 2: to disguise the audacity we have in even thinking that's

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Speaker 2: remotely gonna happen. Like anyway, I'll take my free leggings

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Speaker 2: things I've ever worn.

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Speaker 5: Just for the record, really, I haven't tried them one yet.

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Speaker 2: I like George literally literally I like them so much.

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Speaker 2: The base collection is literally so buttery. And just to

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Speaker 2: disclaimer this, I'm only talking about them because I'm obsessed

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Speaker 2: with them, not because they're paying me to talk about them.

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Speaker 2: Like I could talk about Lulu Lemon in the same way,

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Speaker 2: but they ain't the same.

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Speaker 5: You guys, can't.

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Speaker 3: I'm literally wearing a pair of the bass leggings right now.

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Speaker 5: Good flexibility for you.

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Speaker 3: Everyone can't see you, Pray for those of you who

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Speaker 3: aren't Georgia or I who actually can't see the podcast out.

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Speaker 2: Jess just did some tan trick yoga to show us

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Speaker 2: her her types.

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Speaker 3: On that delightful note, George, what's the next?

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Speaker 1: Okay?

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Speaker 4: The next twin that comes from the Lovely Olga. Her

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Speaker 4: twenty twenty two resolution has been to stick to only

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Speaker 4: one takeaway lunch per week when she's at work, and

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Speaker 4: the rest of the time she has to bring them

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Speaker 4: from home. We love that it's been working for here

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Speaker 4: so far, and she says it doesn't actually feel as

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Speaker 4: restrictive as she expected it to, so that's amazing. That's

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Speaker 4: win number one.

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Speaker 2: Okay, genius, hold on, but can someone post in the

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Speaker 2: Facebook group like actual lunch ideas so you know how

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Speaker 2: like sometimes people be like, oh my god, take cut

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Speaker 2: up cucumber and carrot and celery to lunch, like to

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Speaker 2: work for lunch, and you're like, well, that's gonna last

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Speaker 2: a day before I want something else. Can we do

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Speaker 2: a realistic lunch thread, like what are you actually taking

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Speaker 2: to work for lunch? Because like jessic Rici She's turned

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Speaker 2: up to the office with just like I wanted to

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Speaker 2: bring lunch today, and I'll be like what is that?

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Speaker 2: And You'll be like, oh, all I had in the

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Speaker 2: house was bag or courtship sorry call it like I

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Speaker 2: get it, but like it's so relatable. You like want

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Speaker 2: to take lunch to work sometimes and you're like, well,

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Speaker 2: I don't have all this to do, like an adult

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Speaker 2: version of a Bento box, Like I get all of

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Speaker 2: this like meal prep stuff, and if you guys are

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Speaker 2: doing it, it can go on the realistic thread, but like,

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Speaker 2: what do you have for lunch today work? Like was

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Speaker 2: it a can of tuna? Like was it a packet

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Speaker 2: of minute rice? Because that's what I would do, Like, Jess,

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Speaker 2: you've seen what I eat. Like sometimes, Jess, I've literally

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Speaker 2: been like, oh, I don't have time to make lunch.

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Speaker 2: I'm just gonna eat this whole avocado and You'll be

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Speaker 2: like what are you doing? But I'm like, I'm not

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Speaker 2: buying lunch, it's just not happening.

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Speaker 4: Sticking to the guns, my friend and I when we

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Speaker 4: were traveling in Bali when we were young and poor,

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Speaker 4: we came up with this philosophy or this mantra I guess,

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Speaker 4: And it was called on a budget, not a diet.

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Speaker 4: So we just eat oh yeah, chips for dinner. The cheaper,

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Speaker 4: the better vodka cruser. That'll do bin tang. And it

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Speaker 4: really has it stood the test of time. Maybe less

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Speaker 4: so for my health, but.

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Speaker 2: Not for your health. But I do genuinely believe that

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Speaker 2: there seems to be this like connection where if your

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Speaker 2: meal prepping, it has to be you meal prepping like

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Speaker 2: super healthy things to take to work, Like some kind

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Speaker 2: of shame exists, not in my world, but some kind

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Speaker 2: of shame seems to be existing where if you made

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Speaker 2: like a big dirty spag bowl and you were like,

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Speaker 2: I'm going to take an epic serving of this, somehow

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Speaker 2: that's not as acceptable as making a veggie platter, like

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Speaker 2: I don't know.

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Speaker 4: Oh on this bag bowl, guys feels so, I guess

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Speaker 4: we're interested to hear what Olga is bringing into lunch.

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Speaker 5: Let us know.

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Speaker 4: But beyond that, there's a couple more wins in here.

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Speaker 5: One of what else?

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Speaker 4: Your colleagues noticed that she was being frugal and she

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Speaker 4: was like, Olga, love, why don't you start giving up

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Speaker 4: coffee as well? Old say a respectisty I identify that

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Speaker 4: that is a money drainer. But I love my coffee.

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Speaker 4: It's not going to happen.

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Speaker 5: Lunch is enough. That's my limit.

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Speaker 2: Olga knows her values. I really hate values. I think

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Speaker 2: that's really important. Like, I think it is so important

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Speaker 2: to know what you're willing to compromise on and what

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Speaker 2: you're not. Because I'm with Olga, we aren't compromising on

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Speaker 2: the coffee.

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Speaker 4: Precisely, and it makes it more sustainable because you're not

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Speaker 4: cutting everything out. But anyway, on Friday, Olga won a

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Speaker 4: whole year of coffee from a new coffee shop right

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Speaker 4: next door to her work. So now she's getting a

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Speaker 4: free coffee every day for the rest of the year.

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Speaker 2: So she deserves that so much. That is karma. That's

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Speaker 2: her being like, no coffee is in line with my values,

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Speaker 2: and that's like the she's on the money karma train

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Speaker 2: coming around and being like.

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Speaker 4: We see you, we hear you. But you're still saving

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Speaker 4: we produce the goods. She said, she's putting all of

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Speaker 4: the money she's saving from that coffee into her emergency

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Speaker 4: fund as well.

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Speaker 5: So what a woman love that?

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Speaker 4: Yes, Okay, the next win is from Alana money win.

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Speaker 4: I pay it down in my last personal loan payment

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Speaker 4: this Thursday. Then I'll finally be debt free after racking

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Speaker 4: up over twelve thousand dollars of debt, then falling too

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Speaker 4: ill to work, and having taken guardianship of an at

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Speaker 4: the time seven month old, and then having my own child.

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Speaker 4: Money has been extremely tight of late, but I finally

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Speaker 4: paid it all.

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Speaker 5: How special is that?

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Speaker 2: Well, that's some our house stuff over there, like, I

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Speaker 2: love that. Of course money was tight for you. That

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Speaker 2: sounds like a lot.

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Speaker 4: And with that epic money when girls, I'll leave you

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Speaker 4: with the final one here from Cassandra. She found five

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Speaker 4: dollars on the ground.

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Speaker 2: Yeahs money weir?

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Speaker 3: That takes me back to the OG story of George

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Speaker 3: finding five bucks on the street ones or was it ten?

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Speaker 5: I don't remember.

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Speaker 3: Alrighty, we're back and I have an interesting one for you.

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Speaker 5: This week.

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Speaker 3: A couple of people DMed this to us, and I

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Speaker 3: just thought we had to talk about it because I

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Speaker 3: found it really, really interesting. But we'll get into it.

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Speaker 3: So you might have seen flirting around. There's been quite

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Speaker 3: a bit of pr done for this new startup. And

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Speaker 3: I'll read you the title of the AFI article that

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Speaker 3: I saw which says CBA backs live now by later

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Speaker 3: startup that will ditch home deposits. So of course they

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Speaker 3: got me intrigued. We all know how we feel about

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Speaker 3: buying our pay later.

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Speaker 2: What I haven't seen this yet, Jess, please explain.

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Speaker 3: So it's not as scandalous as that title kind of

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Speaker 3: leads you to belieu. AFR seems to be getting a

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Speaker 3: little clickbaity. But essentially, if a platform called own home,

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Speaker 3: which is in the rent to own space, which we

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Speaker 3: actually spoke about on the Pod a couple of weeks ago,

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Speaker 3: if anyone wants to head back and listen to it,

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Speaker 3: it says in this article it's much more common in

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Speaker 3: the US than it is here, but it does float

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Speaker 3: around and it has for a little while. But the

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Speaker 3: thing that really intrigued me is that it's being backed

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Speaker 3: by Commonwealth Bank, which obviously means that they're seeing a

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Speaker 3: lot of value in this space. And the article does

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Speaker 3: go on to say that at least initially, CBO is

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Speaker 3: not going to add it to their current app that

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Speaker 3: they have, but they anticipate that this kind of model

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Speaker 3: of renting to own is going to become really really popular.

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Speaker 3: And I know that we already spoke about this a

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Speaker 3: little bit on the podcast, but I'm interested to note if,

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Speaker 3: knowing that a more legitimate, I suppose option exists that's

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Speaker 3: being backed by these big businesses, if that changes any

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Speaker 3: of the perspectives we shared, because I know we spoke

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Speaker 3: about how it can be a little sketchy sometimes.

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Speaker 2: Yeah, well this is very different, Like, this is a

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Speaker 2: very different product I think than the ones that we

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Speaker 2: were talking about, and given it's being backed by CBA,

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Speaker 2: I would assume, and this is definitely assumption, that it

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Speaker 2: is a little bit more of a legitimate model that's

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Speaker 2: not planning on taking advantage of first home buyers, especially

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Speaker 2: because a big part of CBA's revenue is generated from

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Speaker 2: mortgage owners. Like, if you're going to give mortgages to people, like,

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Speaker 2: you're not going to want to screw them over, you know,

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Speaker 2: Like it just makes sense that this this might be

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Speaker 2: a really legitimate option for first home buyers, especially in

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Speaker 2: a world where saving up for a home deposit can

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Speaker 2: take literally ten fifteen years at our ages, Like it's insane.

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Speaker 3: Do you give a little bit more context. The way

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Speaker 3: that it works is that own home will purchase the

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Speaker 3: property for you, so they will initially buy it, they'll

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Speaker 3: handle the deposit, the stamp duty, and so you as

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Speaker 3: the purchaser, only pay one point five percent fee up

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Speaker 3: front and you can move in, so they still own it,

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Speaker 3: but you've moved in. So you then go ahead and

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Speaker 3: put in adational one percent to begin a purchase offset,

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Speaker 3: and then make monthly repayments so you'll build up equity

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Speaker 3: over time. You should be putting in about two point

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Speaker 3: five percent of the dwelling per year, and then at

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Speaker 3: a later date you can elect to buy the property

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Speaker 3: for a pre agreed price at any time between three

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Speaker 3: or seven years. So it is a little bit more complicated.

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Speaker 3: It sounds like there's quite a few steps there. I mean,

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Speaker 3: what if you want to purchase the property ten years out.

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Speaker 3: I don't know if that's an option.

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Speaker 2: I'd be really interested just in understanding and from what

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Speaker 2: I can see, there's not a lot of clarity on this,

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Speaker 2: but I would be interested in understanding the credit structure

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Speaker 2: and exactly what that would look like for a mortgage owner.

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Speaker 2: Like obviously, you know they're saying all these great things

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Speaker 2: and it sounds really good. And what I like about

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Speaker 2: this is also that pre agreed price because we know

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Speaker 2: property over time goes up, so the fact that you

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Speaker 2: could be purchasing it for a pre agreed price, is

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Speaker 2: that actually going to take into consideration inflation and like

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Speaker 2: property growth. Are they going to guestimate that and guess

402
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Speaker 2: that it'll be worth this or are they going to

403
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Speaker 2: do it at the pre agreed price? I don't know.

404
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Speaker 2: I just feel like there's so many things that could

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Speaker 2: be really beautiful about this, but also things that could

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Speaker 2: be like a little bit scary, Like what if in

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Speaker 2: five to seven years your financial situation has changed dramatically? Like, Jess,

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Speaker 2: what if you and your partner had broken up and

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Speaker 2: now you can't afford the house on your own? Like

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Speaker 2: is that time wasted instead of saving for a home deposit?

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Speaker 2: I don't know. I feel like there's a lot of

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Speaker 2: lack of clarity around these structures and around what's going

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Speaker 2: on in the credit space. Yeah, Like I don't know.

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Speaker 2: Just everything's annoying me this way. Guys.

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Speaker 3: I feel like I'm sure you could jump on the website,

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Speaker 3: read their pds and find a little bit more information.

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Speaker 3: But something that really stuck out to me in this

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Speaker 3: particular article is it said a potential buyer could access

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Speaker 3: a million dollar property with a twenty five thousand dollar

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Speaker 3: payment upfront, which.

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Speaker 5: Is not a lot.

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Speaker 4: Like.

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Speaker 3: I guess it's good from a consumer perspective because you're like, oh, like,

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Speaker 3: how easy. But I worry as someone who, as we've said,

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Speaker 3: is currently going through the process and assessing whether I

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Speaker 3: can get a mortgage and don't ask me how that's gone.

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Speaker 3: But you know, is it oh I miss? I wished

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Speaker 3: I didn't, I know, But is it almost setting people

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Speaker 3: up a little bit for failure by saying, hey, you

430
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Speaker 3: can have this million dollar property if you only have

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Speaker 3: access to twenty five thousand dollars right now. And I

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Speaker 3: understand it's really hard when people get stuck in the

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Speaker 3: right race of renting and doing this and doing that. Like,

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Speaker 3: I fully understand the challenges. I'm living them with you.

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Speaker 3: But if you can only save a twenty five thousand

436
00:20:27,280 --> 00:20:30,720
Speaker 3: dollar deposit, is does that potentially mean that you just

437
00:20:30,760 --> 00:20:33,840
Speaker 3: should not be purchasing a million dollar property?

438
00:20:34,080 --> 00:20:38,119
Speaker 2: Well, it's interesting because obviously on this podcast, I can't

439
00:20:38,359 --> 00:20:40,960
Speaker 2: give you guys financial advice, so I don't know your

440
00:20:41,280 --> 00:20:45,119
Speaker 2: financial situations near deeply enough to go well, actually that

441
00:20:45,240 --> 00:20:48,920
Speaker 2: means this, that or the other. But from a financial

442
00:20:48,920 --> 00:20:51,960
Speaker 2: advisor who has a very diverse amount of clients. I've

443
00:20:52,000 --> 00:20:55,480
Speaker 2: sat down with clients before and said, hey, client, I've

444
00:20:55,520 --> 00:20:57,760
Speaker 2: done my statement of advice and we're here to present it.

445
00:20:57,800 --> 00:21:00,280
Speaker 2: And I'm sitting with a client and I just say them,

446
00:21:00,320 --> 00:21:03,280
Speaker 2: it's just not financially viable for you to purchase property.

447
00:21:03,600 --> 00:21:05,560
Speaker 2: I mean, if you really really want to, we can

448
00:21:05,600 --> 00:21:08,920
Speaker 2: make that a goal and work in your financial goals

449
00:21:08,960 --> 00:21:12,320
Speaker 2: around that. But unfortunately, because of the hurdle of the

450
00:21:12,359 --> 00:21:15,399
Speaker 2: deposit and the fact that they didn't have, you know,

451
00:21:15,560 --> 00:21:19,520
Speaker 2: any guarantels or anything like that, they found themselves in

452
00:21:19,520 --> 00:21:21,879
Speaker 2: a position where it just wasn't that financially viable to

453
00:21:21,920 --> 00:21:24,760
Speaker 2: own their own property and have all the associated risk

454
00:21:24,840 --> 00:21:28,199
Speaker 2: and additional costs and to create wealth. We ended up

455
00:21:28,200 --> 00:21:31,240
Speaker 2: going down a different route in saying that, I guess,

456
00:21:31,280 --> 00:21:33,919
Speaker 2: you know, to give you enough context that that was

457
00:21:34,119 --> 00:21:37,359
Speaker 2: the right advice to give for them. They didn't mind

458
00:21:37,400 --> 00:21:40,159
Speaker 2: which asset class they wanted. They essentially came to me

459
00:21:40,200 --> 00:21:42,159
Speaker 2: and said, I've got X amount, this is what I

460
00:21:42,200 --> 00:21:43,960
Speaker 2: want to do. I want to create wealth. They want

461
00:21:43,960 --> 00:21:46,560
Speaker 2: to work towards this. They weren't a client that came

462
00:21:46,600 --> 00:21:48,760
Speaker 2: to me and said Victoria desperately want to own property,

463
00:21:48,840 --> 00:21:51,480
Speaker 2: and then I just burst their bubble. They literally will like,

464
00:21:51,720 --> 00:21:55,080
Speaker 2: well what do I do? And in that situation the

465
00:21:55,119 --> 00:21:58,520
Speaker 2: outcome was cool property ain itsis like, that's not going

466
00:21:58,600 --> 00:22:01,080
Speaker 2: to work for you. And I think that we need

467
00:22:01,119 --> 00:22:03,960
Speaker 2: to come to this realization that that's not a bad thing.

468
00:22:04,080 --> 00:22:07,200
Speaker 2: It's just a smart thing for some people. Like we've

469
00:22:07,200 --> 00:22:11,000
Speaker 2: got this pre existing like idea in our head that

470
00:22:11,200 --> 00:22:14,800
Speaker 2: purchasing property means that we've made it, and it's just

471
00:22:14,920 --> 00:22:18,639
Speaker 2: so far from the truth, and it's so I guess

472
00:22:18,680 --> 00:22:22,240
Speaker 2: hard to comprehend when you're not in that property owning position,

473
00:22:22,359 --> 00:22:25,000
Speaker 2: Like Jess, you're not there yet. You're on the journey.

474
00:22:25,240 --> 00:22:27,720
Speaker 2: And I know for sure without you know, throwing you

475
00:22:27,800 --> 00:22:29,399
Speaker 2: under a bus. That's not what I'm doing. But like

476
00:22:29,440 --> 00:22:33,880
Speaker 2: you definitely romanticized property, like you wait, like you love it.

477
00:22:34,119 --> 00:22:36,399
Speaker 2: I know you'll love it. I know because I'm also

478
00:22:36,480 --> 00:22:38,879
Speaker 2: your financial advisor as well as your boss. I know

479
00:22:39,040 --> 00:22:42,120
Speaker 2: that that's the right decision for you. But so often

480
00:22:42,160 --> 00:22:44,840
Speaker 2: when we're not in that driver's seat of owning the property,

481
00:22:45,359 --> 00:22:48,240
Speaker 2: we only see the romantic side of it, whereas just

482
00:22:48,280 --> 00:22:49,879
Speaker 2: in twelve months, you're gonna have a property and you'll

483
00:22:49,920 --> 00:22:51,639
Speaker 2: be like, ah, the hot what a system broke? And

484
00:22:51,640 --> 00:22:53,640
Speaker 2: you'll be like me, like, my air con is out

485
00:22:53,680 --> 00:22:55,160
Speaker 2: and I don't want to pay for a new one.

486
00:22:55,160 --> 00:22:57,159
Speaker 2: So I'm sitting here sweltering right now and going what

487
00:22:57,200 --> 00:22:59,480
Speaker 2: am I going to do to save money while getting

488
00:22:59,480 --> 00:23:01,920
Speaker 2: a new aircorn? Like it's not as sexy as people

489
00:23:01,960 --> 00:23:04,040
Speaker 2: make it out to be. And yes, it is gratifying,

490
00:23:04,080 --> 00:23:06,440
Speaker 2: and there's a lot of privilege in being a homeowner,

491
00:23:06,720 --> 00:23:08,679
Speaker 2: but I think that a lot of people think that

492
00:23:08,760 --> 00:23:12,160
Speaker 2: you've quite made it once you own property, Like we

493
00:23:12,240 --> 00:23:14,679
Speaker 2: talk about it on She's on the Money all the time,

494
00:23:14,760 --> 00:23:17,800
Speaker 2: and we say, you know, it's definitely not an indicator

495
00:23:17,840 --> 00:23:20,440
Speaker 2: of success, Like, yes, you could purchase property, but does

496
00:23:20,440 --> 00:23:24,080
Speaker 2: that mean that you're more financially stable? Not necessarily. Does

497
00:23:24,080 --> 00:23:26,480
Speaker 2: that mean you have free cash flow to achieve all

498
00:23:26,520 --> 00:23:28,199
Speaker 2: of your goals and the things that you want to

499
00:23:28,240 --> 00:23:31,440
Speaker 2: achieve in life? No, does that mean that you're going

500
00:23:31,520 --> 00:23:35,000
Speaker 2: to retire with more money? Maybe not, Like, it doesn't

501
00:23:35,080 --> 00:23:37,560
Speaker 2: actually mean what you think it means. And even though

502
00:23:37,560 --> 00:23:39,960
Speaker 2: I think I'm being incredibly clear in what I'm saying

503
00:23:40,000 --> 00:23:43,320
Speaker 2: to you guys right now, if I still said, hey, George, h.

504
00:23:43,400 --> 00:23:45,360
Speaker 2: Do you know old mate from down the road she's

505
00:23:45,440 --> 00:23:47,199
Speaker 2: bought a house. You'd be like, oh, good on her.

506
00:23:47,320 --> 00:23:51,240
Speaker 2: What an achievement, Like as Italy, it's something that you

507
00:23:51,280 --> 00:23:53,840
Speaker 2: know should be celebrated, And please don't get me wrong,

508
00:23:53,840 --> 00:23:56,439
Speaker 2: it absolutely is because it's the journey, it's the savings,

509
00:23:56,520 --> 00:23:59,439
Speaker 2: it's the sacrifice that goes into creating this. And just

510
00:23:59,560 --> 00:24:01,720
Speaker 2: like when you purchase your home, I'm going to be

511
00:24:02,119 --> 00:24:05,119
Speaker 2: over the moon because you save so hard and you

512
00:24:05,240 --> 00:24:08,639
Speaker 2: compromise so many things that you know, I know you value,

513
00:24:08,920 --> 00:24:11,760
Speaker 2: because you value this goal more. And like, I get

514
00:24:11,760 --> 00:24:13,600
Speaker 2: to be on that journey with you and I've spoken

515
00:24:13,640 --> 00:24:15,879
Speaker 2: to you about it, and I genuinely will be so

516
00:24:16,119 --> 00:24:19,520
Speaker 2: excited and so proud that you've achieved that. But it

517
00:24:19,640 --> 00:24:22,600
Speaker 2: won't be because I'm like, oh my god, she's made it.

518
00:24:22,640 --> 00:24:26,119
Speaker 2: She's achieved it, like she's better than everybody else. Like

519
00:24:26,200 --> 00:24:29,359
Speaker 2: it's crazy. But even though we're saying what we're saying

520
00:24:29,440 --> 00:24:31,360
Speaker 2: right now, people are still going to be like, oh

521
00:24:31,359 --> 00:24:33,680
Speaker 2: my gosh, yeah, but it is a level of achievement,

522
00:24:34,000 --> 00:24:35,320
Speaker 2: Like get that out of your brain.

523
00:24:35,960 --> 00:24:39,240
Speaker 4: Can I throw in a bit of a spicy take here, ladies,

524
00:24:39,440 --> 00:24:39,879
Speaker 4: go for a.

525
00:24:39,920 --> 00:24:43,680
Speaker 2: Love spicy takes. This week is all about spicy taps totally.

526
00:24:43,760 --> 00:24:49,480
Speaker 4: It certainly is. But could someone perhaps argue that maybe

527
00:24:50,160 --> 00:24:57,480
Speaker 4: this venture is kind of capitalizing on the instant gratification

528
00:24:57,600 --> 00:25:02,119
Speaker 4: culture that's kind of been cultivated. I guess throughout our generation,

529
00:25:02,800 --> 00:25:05,040
Speaker 4: like you know how, we're also used to having what

530
00:25:05,080 --> 00:25:07,560
Speaker 4: we want now. We'll deal with the consequences later. That's

531
00:25:07,600 --> 00:25:09,720
Speaker 4: what after pay allows us to do. We'll deal with

532
00:25:09,720 --> 00:25:12,600
Speaker 4: the pain later. If we're entering the property market with

533
00:25:12,680 --> 00:25:15,600
Speaker 4: twenty five thousand dollars and then in three to seven

534
00:25:15,640 --> 00:25:20,880
Speaker 4: years we're expected to take on a full mortgage, how like,

535
00:25:21,040 --> 00:25:23,800
Speaker 4: how can we be expected to afford that if in

536
00:25:23,840 --> 00:25:26,240
Speaker 4: the first place we can't. How does that work?

537
00:25:26,359 --> 00:25:28,840
Speaker 3: It is worth noting here that they did say that

538
00:25:29,280 --> 00:25:32,200
Speaker 3: our customers are being assessed individually, like you would be

539
00:25:32,240 --> 00:25:33,840
Speaker 3: at a bank and you are having to answer the

540
00:25:33,840 --> 00:25:37,159
Speaker 3: same question. So as much as the example that was

541
00:25:37,200 --> 00:25:39,320
Speaker 3: provided was with twenty five thousand dollars you could get

542
00:25:39,320 --> 00:25:41,919
Speaker 3: a million dollar home, I don't know that they're offering

543
00:25:41,960 --> 00:25:44,600
Speaker 3: that to everybody. There's obviously a level of due diligence

544
00:25:44,640 --> 00:25:47,240
Speaker 3: that they're completing, and I would imagine if a bank

545
00:25:47,320 --> 00:25:51,280
Speaker 3: is backing that that it would be pretty thorough more legitimate. Okay,

546
00:25:51,320 --> 00:25:53,800
Speaker 3: I guess the concept is the same, and I mean

547
00:25:54,200 --> 00:25:56,359
Speaker 3: you could argue back and forth on you know, there

548
00:25:56,359 --> 00:26:00,000
Speaker 3: are government grants and things that assist, and it's not easy.

549
00:26:00,080 --> 00:26:02,840
Speaker 3: Getting into the property market is so challenging. We all

550
00:26:02,880 --> 00:26:05,480
Speaker 3: know that. And I don't want to make a sweeping

551
00:26:05,560 --> 00:26:09,520
Speaker 3: statement and say that people who haven't got a deposit

552
00:26:09,800 --> 00:26:12,040
Speaker 3: are just not doing the right thing, because that's obviously

553
00:26:12,080 --> 00:26:14,639
Speaker 3: not the case, because it is really challenging when you

554
00:26:14,720 --> 00:26:19,480
Speaker 3: have families and other commitments. But yeah, I would really

555
00:26:19,480 --> 00:26:22,200
Speaker 3: recommend people go back and listen to that episode because,

556
00:26:22,359 --> 00:26:25,000
Speaker 3: like I said, we've got a heap of dms regarding this,

557
00:26:25,080 --> 00:26:26,679
Speaker 3: and I think a lot of the things that you

558
00:26:26,720 --> 00:26:29,920
Speaker 3: spoke about are applicable. It is just a slightly different

559
00:26:30,240 --> 00:26:32,360
Speaker 3: model and one that seems to be a little bit

560
00:26:32,400 --> 00:26:33,320
Speaker 3: more legitimate.

561
00:26:33,720 --> 00:26:34,639
Speaker 5: One more Q. J.

562
00:26:34,800 --> 00:26:34,960
Speaker 2: Rick.

563
00:26:35,080 --> 00:26:37,159
Speaker 4: I'm not sure if it was in that article, but

564
00:26:37,760 --> 00:26:40,679
Speaker 4: the is the idea that you can go up for

565
00:26:40,720 --> 00:26:43,520
Speaker 4: any home that you're looking at and just click like

566
00:26:43,600 --> 00:26:46,280
Speaker 4: the own home button or is it more of that

567
00:26:46,800 --> 00:26:49,800
Speaker 4: own home is buying like estates and then you're living

568
00:26:49,840 --> 00:26:52,760
Speaker 4: in a designated area or is it like a viable option.

569
00:26:52,960 --> 00:26:56,639
Speaker 3: That's actually that's a really good question, Thank Scott. All Right,

570
00:26:56,680 --> 00:26:58,520
Speaker 3: I've just jumped on the website G two see and

571
00:26:58,720 --> 00:27:01,040
Speaker 3: the first thing I see is it choose the home

572
00:27:01,040 --> 00:27:02,879
Speaker 3: of your dreams and move in straight away. So I'm

573
00:27:02,920 --> 00:27:05,560
Speaker 3: assuming that you can kind of pick and choose. They

574
00:27:05,560 --> 00:27:08,200
Speaker 3: will purchase on your behalf and then that model comes

575
00:27:08,200 --> 00:27:11,560
Speaker 3: into play. But even there again, and to be very clear,

576
00:27:11,760 --> 00:27:14,080
Speaker 3: they are not associated. They are not a buy and

577
00:27:14,119 --> 00:27:17,120
Speaker 3: now pay later platform. But as you said before, it

578
00:27:17,160 --> 00:27:21,000
Speaker 3: is that kind of same instant gratification. It says turning

579
00:27:21,000 --> 00:27:23,280
Speaker 3: renters into homeowners, choose the home of your dreams and

580
00:27:23,320 --> 00:27:27,040
Speaker 3: move in straight away, and it I mean, I'm not

581
00:27:27,080 --> 00:27:29,360
Speaker 3: condemning them. I haven't looked into them enough at all,

582
00:27:29,520 --> 00:27:32,760
Speaker 3: but it is once again, it feels like capitalizing on

583
00:27:32,960 --> 00:27:34,879
Speaker 3: that desire to have something so quickly.

584
00:27:36,680 --> 00:27:41,479
Speaker 2: Yeah, yeah, it seems crazy, and I mean to absolutely pivot.

585
00:27:41,600 --> 00:27:45,639
Speaker 2: We were talking before, Jess and George about the credit industry,

586
00:27:45,760 --> 00:27:47,880
Speaker 2: you know, being a bit crazy at the moment. Jess,

587
00:27:47,920 --> 00:27:50,600
Speaker 2: you're going through the pre approval process and that's you know,

588
00:27:50,840 --> 00:27:53,560
Speaker 2: really challenging. In a couple of weeks ago, we spoke

589
00:27:53,720 --> 00:27:57,240
Speaker 2: on the Friday Drinks episode about how in the US

590
00:27:57,480 --> 00:28:00,320
Speaker 2: Equifax are now putting after pay on their credit report thoughts,

591
00:28:00,359 --> 00:28:03,040
Speaker 2: So everything's becoming a little bit more official. But another

592
00:28:03,240 --> 00:28:06,040
Speaker 2: finance news thing that happened this week was actually that

593
00:28:06,080 --> 00:28:09,320
Speaker 2: a whole heap of financial experts came out at the

594
00:28:09,440 --> 00:28:13,920
Speaker 2: end of last week and they quote predicted potential carnage

595
00:28:14,000 --> 00:28:17,000
Speaker 2: for the buy now, pay later sector. And if you

596
00:28:17,000 --> 00:28:19,120
Speaker 2: know you've been following me on socials, you know I've

597
00:28:19,119 --> 00:28:21,760
Speaker 2: been going a bit ham on after Pay and money

598
00:28:21,800 --> 00:28:24,520
Speaker 2: by after Pay and their potential marketing and how I

599
00:28:24,640 --> 00:28:27,879
Speaker 2: just feel like it's not potentially putting their consumers in

600
00:28:27,920 --> 00:28:30,320
Speaker 2: the best possible position and it makes me a little

601
00:28:30,359 --> 00:28:33,000
Speaker 2: bit uncomfortable. So I've been talking a lot about that,

602
00:28:33,119 --> 00:28:35,240
Speaker 2: and Glenn James from my Millennial Money and I have

603
00:28:35,320 --> 00:28:38,000
Speaker 2: actually already recorded a podcast on that and that will

604
00:28:38,080 --> 00:28:40,440
Speaker 2: drop on our feed in probably the next two weeks.

605
00:28:40,440 --> 00:28:42,520
Speaker 2: We're just making sure it's perfect, okay, guys, because we

606
00:28:42,520 --> 00:28:45,520
Speaker 2: don't need to be starting fires or lighting fires that

607
00:28:45,920 --> 00:28:48,280
Speaker 2: don't need to be lit. So we're just making sure

608
00:28:48,280 --> 00:28:50,120
Speaker 2: we're doing the right thing by you guys, as well

609
00:28:50,160 --> 00:28:53,800
Speaker 2: as by after Pay. But it's interesting to see that

610
00:28:53,880 --> 00:28:56,920
Speaker 2: the buy now, pay later segment here or sector you

611
00:28:56,920 --> 00:28:59,720
Speaker 2: should say here in Australia is actually worth more than

612
00:28:59,800 --> 00:29:03,760
Speaker 2: the billion dollars collectively, which that's a lot of money.

613
00:29:04,240 --> 00:29:07,800
Speaker 2: And now on the AX or the Australian Stock Exchange,

614
00:29:07,880 --> 00:29:11,080
Speaker 2: there are twelve different by now pay laters that are

615
00:29:11,200 --> 00:29:15,720
Speaker 2: you know, on the ASEX here in Australia. But George Jess,

616
00:29:16,000 --> 00:29:19,680
Speaker 2: did you know that by now pay later providers bad

617
00:29:19,720 --> 00:29:24,280
Speaker 2: debts are now astronomical and not one of those twelve

618
00:29:24,520 --> 00:29:27,960
Speaker 2: listed providers have ever made a profit. None of them

619
00:29:28,000 --> 00:29:31,560
Speaker 2: have ever paid a dividend to their investors. And over

620
00:29:31,600 --> 00:29:35,400
Speaker 2: the last week or two share prices have absolutely plummeted.

621
00:29:35,480 --> 00:29:36,120
Speaker 5: Have you seen that?

622
00:29:36,440 --> 00:29:39,000
Speaker 3: I had seen someone talking about it online, And I

623
00:29:39,000 --> 00:29:41,000
Speaker 3: guess it's quite a shock, isn't it. Because we talk

624
00:29:41,040 --> 00:29:43,960
Speaker 3: a lot about the extortionate amount of fees that these

625
00:29:44,000 --> 00:29:46,800
Speaker 3: businesses collect every year. So it's wild to think that

626
00:29:47,280 --> 00:29:49,880
Speaker 3: they're taking on so much debt that even with all

627
00:29:49,880 --> 00:29:52,160
Speaker 3: of those late fees, they're not turning a profit. But

628
00:29:52,240 --> 00:29:54,240
Speaker 3: I guess that makes it pretty clear as to why

629
00:29:54,680 --> 00:29:57,120
Speaker 3: we spoke about last week or the week before. These

630
00:29:57,160 --> 00:29:59,600
Speaker 3: businesses work so hard to keep your business. That's why,

631
00:29:59,760 --> 00:30:01,440
Speaker 3: because they've got debt to pay.

632
00:30:02,080 --> 00:30:04,720
Speaker 2: Because they've got debt to pay, because they're in debt themselves.

633
00:30:04,800 --> 00:30:07,400
Speaker 2: So if anybody understands bad debt, and I was calling

634
00:30:07,440 --> 00:30:10,640
Speaker 2: them out for not understanding bad debt and quoting it, guys,

635
00:30:10,640 --> 00:30:13,520
Speaker 2: you should know you're in it up, dear eyeballs guys.

636
00:30:13,560 --> 00:30:16,840
Speaker 2: The fact that after pay and Zip pays, share prices

637
00:30:16,880 --> 00:30:19,920
Speaker 2: over the last week have gone down dramatically, Like the

638
00:30:20,080 --> 00:30:23,560
Speaker 2: Zip share price dropped eighty percent, like one day it

639
00:30:23,600 --> 00:30:26,320
Speaker 2: was fourteen dollars and then it went down to two

640
00:30:26,480 --> 00:30:31,120
Speaker 2: dollars ninetyer share Like if you were a shareholder, what, yeah.

641
00:30:31,040 --> 00:30:32,000
Speaker 3: What caused that?

642
00:30:32,520 --> 00:30:35,719
Speaker 2: So the cause of that was actually its reporting season,

643
00:30:35,960 --> 00:30:38,360
Speaker 2: So all the reports are coming out, they're starting to

644
00:30:38,440 --> 00:30:40,480
Speaker 2: be really they have to be, because they're on the

645
00:30:40,520 --> 00:30:44,400
Speaker 2: ASX transparent about their debt levels and what their predictions

646
00:30:44,440 --> 00:30:47,160
Speaker 2: are for the next twelve, eighteen, twenty four months and

647
00:30:47,200 --> 00:30:50,480
Speaker 2: what they're foreseeing. But it's kind of one of those

648
00:30:50,480 --> 00:30:54,680
Speaker 2: things where shareholders are talking with their money, Like shareholders

649
00:30:55,000 --> 00:30:59,280
Speaker 2: are mass exiting holding by now pay later companies, and

650
00:30:59,320 --> 00:31:01,960
Speaker 2: the reason they do that is because they're finally saying cool,

651
00:31:01,960 --> 00:31:04,680
Speaker 2: they're not turning a profit. Yeah, we might have gotten

652
00:31:04,720 --> 00:31:07,120
Speaker 2: to a point where we sold for fourteen dollars and

653
00:31:07,120 --> 00:31:09,760
Speaker 2: we only bought for two dollars or whatever their situation was.

654
00:31:10,040 --> 00:31:13,080
Speaker 2: But no person who owns after pay shares or z

655
00:31:13,080 --> 00:31:15,160
Speaker 2: it pay shares or any of the listed by now

656
00:31:15,200 --> 00:31:18,840
Speaker 2: pay later shares has ever returned a dividend. And you know,

657
00:31:18,920 --> 00:31:21,320
Speaker 2: when we talk about the share market, and you know, Victoria,

658
00:31:21,360 --> 00:31:23,080
Speaker 2: what do you invest in? And obviously I'm not going

659
00:31:23,120 --> 00:31:25,880
Speaker 2: to ever share that with you guys and exactly what

660
00:31:25,960 --> 00:31:29,200
Speaker 2: makes up my portfolio because it would be, from my perspective,

661
00:31:29,240 --> 00:31:32,000
Speaker 2: really irresponsible of me to do that because I just

662
00:31:32,000 --> 00:31:33,960
Speaker 2: sit in this. You know, I don't want to say

663
00:31:34,040 --> 00:31:36,600
Speaker 2: I'm so responsible for you guys, but I am. And

664
00:31:36,640 --> 00:31:39,200
Speaker 2: I know that you guys know what I'm talking about.

665
00:31:39,280 --> 00:31:42,000
Speaker 2: So you'd very likely just go out and replicate my portfolio.

666
00:31:42,520 --> 00:31:45,040
Speaker 2: I get it. I would do that too. I've done

667
00:31:45,040 --> 00:31:48,280
Speaker 2: that to other investors that I know when I follow them. Like,

668
00:31:48,360 --> 00:31:53,080
Speaker 2: it's not that are uncommon of a concept, but that's

669
00:31:53,200 --> 00:31:55,400
Speaker 2: one thing that when I'm looking at shares to put

670
00:31:55,400 --> 00:31:58,520
Speaker 2: in my portfolio, They're not only going to increase in value,

671
00:31:58,520 --> 00:32:01,240
Speaker 2: but they also pay a dividend, because a dividend is

672
00:32:01,280 --> 00:32:03,560
Speaker 2: going to make up a very big portion, hopefully of

673
00:32:03,600 --> 00:32:06,560
Speaker 2: what my retirement payment is going to be. Like capital

674
00:32:06,600 --> 00:32:08,840
Speaker 2: growth is great, Like Jesse, if I gave you a

675
00:32:08,880 --> 00:32:11,240
Speaker 2: share tomorrow and said, wow, it was worth ten dollars

676
00:32:11,320 --> 00:32:14,840
Speaker 2: today and fourteen dollars tomorrow, it's only worth fourteen dollars

677
00:32:14,840 --> 00:32:17,280
Speaker 2: if you sell it, Like I need that share to

678
00:32:17,280 --> 00:32:20,920
Speaker 2: be generating me income, and income is the dividend. So

679
00:32:21,040 --> 00:32:22,960
Speaker 2: no one's ever made money from any of the buy

680
00:32:23,000 --> 00:32:25,680
Speaker 2: now pay laters unless they sold their shares, And that's

681
00:32:25,720 --> 00:32:27,400
Speaker 2: not what we want to be forced to do when

682
00:32:27,400 --> 00:32:29,760
Speaker 2: we're investing for the long term. Like we're investing for

683
00:32:29,800 --> 00:32:31,960
Speaker 2: the long term so that the money that our money

684
00:32:31,960 --> 00:32:34,360
Speaker 2: makes can make money and that's the money we live off.

685
00:32:34,760 --> 00:32:39,160
Speaker 2: Like it just to me, not such a good investment, hey, Gus.

686
00:32:39,560 --> 00:32:40,080
Speaker 5: Yeah.

687
00:32:40,360 --> 00:32:43,880
Speaker 2: So I just think it's really interesting to have these

688
00:32:43,880 --> 00:32:46,720
Speaker 2: conversations because you know, it's not us going, oh my god,

689
00:32:46,760 --> 00:32:49,000
Speaker 2: we knew, like this is all common knowledge, but it's

690
00:32:49,040 --> 00:32:51,360
Speaker 2: just so interesting that it's happening at the same time

691
00:32:51,360 --> 00:32:53,640
Speaker 2: that we're talking about it, not because they're connected, just

692
00:32:53,680 --> 00:32:55,920
Speaker 2: because it's like wow, like we were literally talking about

693
00:32:55,960 --> 00:32:59,120
Speaker 2: the last week. Jess like, Yeah, it's crazy to think that,

694
00:32:59,480 --> 00:33:02,240
Speaker 2: you know, they're not even turning a profit and they're

695
00:33:02,280 --> 00:33:03,000
Speaker 2: in bad debt.

696
00:33:03,120 --> 00:33:04,880
Speaker 3: Yeah, one hundred percent. And I guess I'll be really

697
00:33:04,920 --> 00:33:07,240
Speaker 3: interested to take that I guess concept and apply it

698
00:33:07,360 --> 00:33:11,160
Speaker 3: to businesses like own home who are again taking on

699
00:33:11,360 --> 00:33:15,000
Speaker 3: extreme amounts of debt on behalf of a consumer. I mean,

700
00:33:15,080 --> 00:33:17,960
Speaker 3: I'm sure there's going to be, unfortunately, situations where people

701
00:33:18,000 --> 00:33:20,160
Speaker 3: can't pay you that back. So I'm interested to see

702
00:33:20,160 --> 00:33:22,280
Speaker 3: how that model works and learn a little bit more

703
00:33:22,320 --> 00:33:24,280
Speaker 3: about it as time goes on as well.

704
00:33:24,560 --> 00:33:24,840
Speaker 2: Yeah.

705
00:33:24,880 --> 00:33:28,560
Speaker 4: Absolutely, It is Friday, which means it's time to answer

706
00:33:28,600 --> 00:33:32,440
Speaker 4: your most burning finance, career and life questions. If you

707
00:33:32,480 --> 00:33:35,640
Speaker 4: need help untangling a naughty dilemma, no matter how big

708
00:33:35,720 --> 00:33:38,480
Speaker 4: or small, send us through a voice note to podcast

709
00:33:38,520 --> 00:33:40,280
Speaker 4: at She's on the money dot com dot a U

710
00:33:40,360 --> 00:33:43,600
Speaker 4: and will help you find the answer you've been searching for. Now,

711
00:33:43,680 --> 00:33:45,840
Speaker 4: let's press play on today's listener question.

712
00:33:46,120 --> 00:33:48,480
Speaker 6: Hello that it's my lovely She's on the money gals,

713
00:33:48,720 --> 00:33:50,760
Speaker 6: So I'm looking for some help in regards to my

714
00:33:50,840 --> 00:33:54,440
Speaker 6: partners spending and saving habits. He spends like crazy and

715
00:33:54,520 --> 00:33:58,400
Speaker 6: has no savings, basically living paycheck to paycheck. This year,

716
00:33:58,480 --> 00:34:01,200
Speaker 6: I've decided enough is enough and to take control and

717
00:34:01,240 --> 00:34:04,760
Speaker 6: budget his money weekly and transfer any remaining funds into

718
00:34:04,760 --> 00:34:07,600
Speaker 6: an account that only I am able to access, as

719
00:34:07,600 --> 00:34:10,160
Speaker 6: has gotten to the point where I see no other option.

720
00:34:10,680 --> 00:34:12,840
Speaker 6: I love some advice on how to tackle this issue

721
00:34:12,840 --> 00:34:15,279
Speaker 6: further to a syst him and maybe ask is this

722
00:34:15,320 --> 00:34:16,359
Speaker 6: an extreme thing to do?

723
00:34:16,680 --> 00:34:20,560
Speaker 2: Ooft? What a question, guys, I'm a financial advisor. It's

724
00:34:20,640 --> 00:34:23,480
Speaker 2: in this one before what do you guys reckon as

725
00:34:24,120 --> 00:34:25,840
Speaker 2: young gals in relationships.

726
00:34:26,040 --> 00:34:29,239
Speaker 3: I feel like the important thing to touch on here,

727
00:34:29,480 --> 00:34:32,960
Speaker 3: and it wasn't really clear in the question is that

728
00:34:33,440 --> 00:34:36,880
Speaker 3: this model is totally fine as long as both people

729
00:34:36,920 --> 00:34:41,319
Speaker 3: in the relationship are comfortable and consenting. Because I think, yes, yes, yeah,

730
00:34:41,400 --> 00:34:43,879
Speaker 3: male doing this to a female, W'd be really quick

731
00:34:43,920 --> 00:34:45,640
Speaker 3: to jump up and down and say, oh my god,

732
00:34:45,840 --> 00:34:49,680
Speaker 3: this is sounding alarm bells just because it's a female

733
00:34:49,719 --> 00:34:51,480
Speaker 3: doing it for a male. I know that we as

734
00:34:51,480 --> 00:34:55,920
Speaker 3: women take on that mental load significantly more in a partnership,

735
00:34:56,360 --> 00:34:59,919
Speaker 3: but just making sure everyone's comfy, you know, I'm MISSU

736
00:35:00,080 --> 00:35:02,319
Speaker 3: mean that she's had this conversation with her partner and

737
00:35:02,320 --> 00:35:04,720
Speaker 3: that he's happy for her to take on the responsibility.

738
00:35:05,040 --> 00:35:07,640
Speaker 2: Yeah, that's a really good call out, Jess, Like we

739
00:35:07,760 --> 00:35:10,359
Speaker 2: are operating under the assumption that her partner has turned

740
00:35:10,360 --> 00:35:12,560
Speaker 2: around and said, just take my money off me. I

741
00:35:12,600 --> 00:35:15,200
Speaker 2: can't be trusted and all parties are consented.

742
00:35:15,280 --> 00:35:16,040
Speaker 5: Yeah, one hundred percent.

743
00:35:16,080 --> 00:35:18,520
Speaker 2: So let's have the conversation based on that assumption.

744
00:35:18,920 --> 00:35:22,000
Speaker 3: Yeah, with that in mind, my personal opinion is, I mean,

745
00:35:22,040 --> 00:35:24,360
Speaker 3: if you're happy to do that to make your relationship work,

746
00:35:24,440 --> 00:35:30,120
Speaker 3: by all means, I personally would find it incredibly frustrating

747
00:35:30,600 --> 00:35:33,640
Speaker 3: to have to look after my partner's finances as well

748
00:35:33,680 --> 00:35:37,160
Speaker 3: as my own, just in the sense of I think

749
00:35:37,239 --> 00:35:39,520
Speaker 3: that you can be bad with money. And there's a

750
00:35:39,560 --> 00:35:43,160
Speaker 3: whole bunch of reasons why I'm neurodiverse. Friends, there's all

751
00:35:43,160 --> 00:35:46,320
Speaker 3: these different factors that might make certain aspects of financial

752
00:35:46,360 --> 00:35:49,719
Speaker 3: management more challenging for you. But I think there's there's

753
00:35:49,800 --> 00:35:52,719
Speaker 3: one thing to ask someone to help you or to

754
00:35:52,800 --> 00:35:55,120
Speaker 3: set you up for success, and I think it's another

755
00:35:55,200 --> 00:35:58,920
Speaker 3: thing to go it's too hard do it all for me,

756
00:35:59,120 --> 00:36:02,560
Speaker 3: Because assuming you guys are together forever, do you really

757
00:36:02,600 --> 00:36:05,120
Speaker 3: want to be doing everything for him financially, doing his

758
00:36:05,160 --> 00:36:08,080
Speaker 3: budget all of that stuff for the next sixty years.

759
00:36:08,360 --> 00:36:11,920
Speaker 2: Oh my gosh, No, No, that just feels overwhelming, Like

760
00:36:11,960 --> 00:36:14,920
Speaker 2: that feels like too much from my perspective, George, what

761
00:36:14,960 --> 00:36:15,560
Speaker 2: do you reckon?

762
00:36:15,840 --> 00:36:18,279
Speaker 4: Well, it's a hard one. And in the body of

763
00:36:18,320 --> 00:36:20,239
Speaker 4: the email that she sent us, she said that it

764
00:36:20,280 --> 00:36:23,640
Speaker 4: has caused a lot of stress in their relationship.

765
00:36:23,200 --> 00:36:26,160
Speaker 5: Which sucks. And I mean, I am in.

766
00:36:26,120 --> 00:36:29,839
Speaker 4: A relationship where I am a little more responsible with

767
00:36:29,840 --> 00:36:34,080
Speaker 4: my finances than my partner is, so I totally understand

768
00:36:34,239 --> 00:36:36,439
Speaker 4: how hard it can be when you're kind of both

769
00:36:36,480 --> 00:36:39,480
Speaker 4: working towards shared goals and one of you is definitely

770
00:36:39,480 --> 00:36:42,080
Speaker 4: working harder, and you know, you see the other one

771
00:36:42,760 --> 00:36:44,840
Speaker 4: being frivolous with their money, but it is their money,

772
00:36:44,880 --> 00:36:47,800
Speaker 4: so you do need to give them that level of freedom.

773
00:36:47,880 --> 00:36:51,400
Speaker 4: But I mean, I would probably suggest sitting down and

774
00:36:51,440 --> 00:36:54,160
Speaker 4: having a really good chat, and I mean you probably

775
00:36:54,200 --> 00:36:57,680
Speaker 4: have already done this, but talking through your money stories,

776
00:36:58,520 --> 00:37:01,120
Speaker 4: the goals that you are working towards together, and what

777
00:37:01,160 --> 00:37:03,239
Speaker 4: you do want further down the line, be that five years,

778
00:37:03,239 --> 00:37:06,920
Speaker 4: ten years, if it is quite a serious relationship, and

779
00:37:06,960 --> 00:37:10,239
Speaker 4: then I think, yeah, just really reassessing and helping them

780
00:37:10,360 --> 00:37:14,560
Speaker 4: understand that their behaviors around money are impacting you, and

781
00:37:14,760 --> 00:37:17,600
Speaker 4: a level of sacrifice does have to take place if

782
00:37:18,000 --> 00:37:21,239
Speaker 4: I guess you want to continue in this relationship, because yeah,

783
00:37:21,280 --> 00:37:22,960
Speaker 4: it's hard, it's really hard.

784
00:37:23,040 --> 00:37:26,360
Speaker 3: That's such a good point, Gee, I think, yeah, helping

785
00:37:26,360 --> 00:37:29,279
Speaker 3: them set up processes, so being like, hey, I want

786
00:37:29,280 --> 00:37:31,239
Speaker 3: to help you, I want to see you succeed, Like

787
00:37:31,280 --> 00:37:33,680
Speaker 3: that's what a partner does. I'm here to support you.

788
00:37:34,239 --> 00:37:37,120
Speaker 3: But that does in my opinion, that doesn't necessarily mean

789
00:37:37,160 --> 00:37:40,560
Speaker 3: that you should just take on all of the responsibility, but.

790
00:37:40,760 --> 00:37:43,120
Speaker 4: Because that's a massive burden that you have to carry,

791
00:37:43,320 --> 00:37:46,120
Speaker 4: just like, yeah, who could be bothered and it's not

792
00:37:46,200 --> 00:37:47,080
Speaker 4: your responsibility.

793
00:37:47,160 --> 00:37:49,360
Speaker 3: Yeah, we'll get the professional's opinion in a second.

794
00:37:49,400 --> 00:37:49,839
Speaker 2: But just.

795
00:37:52,440 --> 00:37:55,319
Speaker 3: I would also be careful because if you are then

796
00:37:55,600 --> 00:37:58,600
Speaker 3: managing his finances and it is again applicable if the

797
00:37:58,680 --> 00:38:01,719
Speaker 3: roles were reversed, I feel like you're setting yourself up

798
00:38:01,840 --> 00:38:05,080
Speaker 3: for potentially a little bit of resent or a little

799
00:38:05,120 --> 00:38:08,759
Speaker 3: bit of oh yeah, that's a reading or you know.

800
00:38:08,880 --> 00:38:11,200
Speaker 3: I just think, as you said, g she mentioned that

801
00:38:11,239 --> 00:38:14,120
Speaker 3: there's been a bit of a strain. I don't necessarily

802
00:38:14,200 --> 00:38:18,080
Speaker 3: think that taking that responsibility will completely mitigate that strain.

803
00:38:18,160 --> 00:38:21,840
Speaker 3: Because if anything, she's now going to have more oversight

804
00:38:21,920 --> 00:38:24,760
Speaker 3: into what's happening. And of course you never want someone

805
00:38:24,840 --> 00:38:26,480
Speaker 3: to feel as if they've got to turn around and

806
00:38:26,480 --> 00:38:29,080
Speaker 3: be like please, can I have my pocket money? And

807
00:38:29,280 --> 00:38:32,080
Speaker 3: it just it's really hard because obviously it's going to

808
00:38:32,120 --> 00:38:36,840
Speaker 3: function differently with every relationship dynamic. But I foresee a

809
00:38:36,880 --> 00:38:39,680
Speaker 3: lot of pitfalls personally. But what do you think You

810
00:38:39,760 --> 00:38:42,680
Speaker 3: actually probably are the most qualified to speak on it,

811
00:38:42,840 --> 00:38:45,040
Speaker 3: which has been running your mouths back and forth.

812
00:38:45,120 --> 00:38:45,640
Speaker 5: Qualified.

813
00:38:45,719 --> 00:38:49,359
Speaker 2: It's not like this question is so much beyond just

814
00:38:49,400 --> 00:38:52,799
Speaker 2: like financial advice, you're asking for a relationship advice and

815
00:38:52,920 --> 00:38:56,600
Speaker 2: money to the factor, and from my perspective, if it

816
00:38:56,719 --> 00:38:59,759
Speaker 2: was anything else that you were taking over for them,

817
00:39:00,120 --> 00:39:03,960
Speaker 2: like it's grow up in a way, like I want

818
00:39:04,040 --> 00:39:07,719
Speaker 2: you to be responsible for your own wealth, for your

819
00:39:07,760 --> 00:39:10,439
Speaker 2: own future. And Georgie, if I said to you, hey,

820
00:39:10,480 --> 00:39:12,560
Speaker 2: well can you be responsible for making sure I get

821
00:39:12,560 --> 00:39:13,919
Speaker 2: out of bed every day and go to the gym

822
00:39:13,920 --> 00:39:16,120
Speaker 2: because I want to be fit, like it just feels

823
00:39:16,160 --> 00:39:18,840
Speaker 2: like that's not my responsibility or my burden to carry.

824
00:39:19,440 --> 00:39:22,200
Speaker 2: But I think it does really go back, like firstly,

825
00:39:22,360 --> 00:39:25,239
Speaker 2: it's a very kind thing to do, like if you've

826
00:39:25,239 --> 00:39:27,880
Speaker 2: got somebody struggling, and you're like, nah, I'm going to

827
00:39:27,920 --> 00:39:30,120
Speaker 2: be boots in it all. I will manage this for you.

828
00:39:30,200 --> 00:39:32,799
Speaker 2: I've got you Like, that's an incredibly kind thing to do.

829
00:39:33,239 --> 00:39:36,120
Speaker 2: But then also it's kind of like, are we working

830
00:39:36,160 --> 00:39:37,719
Speaker 2: on it while this is happening or are you just

831
00:39:37,719 --> 00:39:40,040
Speaker 2: taking it over? Because if you're taking it over, I'd

832
00:39:40,040 --> 00:39:43,440
Speaker 2: probably suggest that you start looking into, well, where is

833
00:39:43,480 --> 00:39:46,040
Speaker 2: this coming from? Why aren't they good at money? Because

834
00:39:46,120 --> 00:39:49,960
Speaker 2: I don't believe that people are good or bad with money,

835
00:39:50,239 --> 00:39:52,480
Speaker 2: Like I just believe that people have their habits and

836
00:39:52,560 --> 00:39:54,279
Speaker 2: if you would like to change them, you're more than

837
00:39:54,320 --> 00:39:57,040
Speaker 2: welcome to and you absolutely have the power to do that.

838
00:39:57,120 --> 00:39:59,840
Speaker 2: And we've seen that so many times in our community,

839
00:40:00,120 --> 00:40:03,280
Speaker 2: people going from being in extreme debt and being extreme

840
00:40:03,320 --> 00:40:06,160
Speaker 2: spenders to being these epic savers like we see it

841
00:40:06,239 --> 00:40:09,200
Speaker 2: week in week out on our Money Diaries episode. It

842
00:40:09,280 --> 00:40:13,719
Speaker 2: is not impossible to change your situation. And if you're like, oh, well,

843
00:40:13,719 --> 00:40:16,239
Speaker 2: I'm always going to be bad, let's look at your

844
00:40:16,239 --> 00:40:18,280
Speaker 2: money story, let's look at what you can do. But guys,

845
00:40:18,760 --> 00:40:21,840
Speaker 2: you've answered this like you've done a really good job

846
00:40:22,239 --> 00:40:26,000
Speaker 2: of you know, I guess prefacing it. But from my perspective,

847
00:40:26,239 --> 00:40:29,239
Speaker 2: let's understand our money stories. Let's make sure that you're

848
00:40:29,280 --> 00:40:32,320
Speaker 2: giving yourself enough room to breathe. And if that's something

849
00:40:32,400 --> 00:40:34,480
Speaker 2: that is a really heavy burden, maybe put a time

850
00:40:34,520 --> 00:40:36,160
Speaker 2: limit on it. I'm going to take it off you

851
00:40:36,440 --> 00:40:39,040
Speaker 2: for six months, and then in six months like you're

852
00:40:39,080 --> 00:40:40,919
Speaker 2: going to do it. But this is one of those

853
00:40:40,960 --> 00:40:43,680
Speaker 2: things where a couple of people have actually asked me

854
00:40:43,719 --> 00:40:46,240
Speaker 2: about this product before, and that product is my budget.

855
00:40:46,600 --> 00:40:48,400
Speaker 2: And they are a company where you can go to

856
00:40:48,440 --> 00:40:50,520
Speaker 2: them and they'll do your budget for you and get

857
00:40:50,560 --> 00:40:52,960
Speaker 2: you out of debt and do whatever. And they do

858
00:40:53,080 --> 00:40:56,319
Speaker 2: charge a fee for their services. Okay, understood. But the

859
00:40:56,400 --> 00:40:59,680
Speaker 2: thing I don't like is they don't teach you financial literacy.

860
00:41:00,080 --> 00:41:02,480
Speaker 2: Like the day you leave them, you're not in a better,

861
00:41:02,680 --> 00:41:06,080
Speaker 2: more educated position. You've just had your budget taken off

862
00:41:06,120 --> 00:41:07,839
Speaker 2: you for a period of time. And yeah, it might

863
00:41:07,880 --> 00:41:10,160
Speaker 2: be squeaky clean and perfect and all your debts are

864
00:41:10,160 --> 00:41:13,319
Speaker 2: paid and you're in this great position, but you're not

865
00:41:13,520 --> 00:41:16,960
Speaker 2: more financially literate than the day you went in their doors.

866
00:41:17,360 --> 00:41:20,279
Speaker 2: So I just think that this kind of plays into

867
00:41:20,320 --> 00:41:23,399
Speaker 2: that mentality of like you feel like you're saving them,

868
00:41:23,719 --> 00:41:26,520
Speaker 2: but you're not actually, in the long term giving them

869
00:41:26,560 --> 00:41:29,160
Speaker 2: the tools and the resources they need to create their

870
00:41:29,200 --> 00:41:33,520
Speaker 2: own success. And regardless of who you are in a relationship,

871
00:41:33,760 --> 00:41:37,080
Speaker 2: what gender you are, what view you have, like, I

872
00:41:37,160 --> 00:41:39,839
Speaker 2: just think every single person should be able to stand

873
00:41:39,920 --> 00:41:42,680
Speaker 2: on their own two feet financially, and if you're just

874
00:41:42,800 --> 00:41:45,800
Speaker 2: taking it from somebody, you're not giving them that grace

875
00:41:45,960 --> 00:41:48,080
Speaker 2: to learn that. If that makes sense.

876
00:41:47,920 --> 00:41:48,680
Speaker 5: What's that saying.

877
00:41:48,800 --> 00:41:51,160
Speaker 3: You give a man of fish, he eats for a day,

878
00:41:51,320 --> 00:41:53,560
Speaker 3: but you teach a man to fish, and he eats

879
00:41:53,560 --> 00:41:55,400
Speaker 3: for the rest of his life. I feel like that's

880
00:41:55,480 --> 00:41:56,160
Speaker 3: what you're saying.

881
00:41:58,120 --> 00:41:59,280
Speaker 2: Yeah, you read the Bible.

882
00:41:59,400 --> 00:42:03,280
Speaker 5: That's so good? Is that actually from the Bible?

883
00:42:03,760 --> 00:42:04,280
Speaker 2: I believe?

884
00:42:04,360 --> 00:42:07,320
Speaker 3: So I did not know that well, but yeah, I

885
00:42:07,360 --> 00:42:10,239
Speaker 3: think that that's a really relevant point. And as you

886
00:42:10,239 --> 00:42:13,600
Speaker 3: guys know, I like to catastrophize as an anxious really

887
00:42:14,120 --> 00:42:16,279
Speaker 3: and I would just tack on to the end of that,

888
00:42:16,760 --> 00:42:19,080
Speaker 3: if you guys were to ever break up, if you've

889
00:42:19,120 --> 00:42:22,600
Speaker 3: been managing everything for him for however long, and where

890
00:42:22,800 --> 00:42:25,040
Speaker 3: touch wood, you're going to die together, Like that's not

891
00:42:25,080 --> 00:42:27,000
Speaker 3: going to be a problem. But as not at the

892
00:42:27,000 --> 00:42:31,840
Speaker 3: same time, that's more you're going to grow old hand

893
00:42:31,840 --> 00:42:33,879
Speaker 3: in hand like in the notebook at the ripe old age.

894
00:42:34,800 --> 00:42:36,360
Speaker 2: Yes, that's the only option.

895
00:42:36,920 --> 00:42:40,719
Speaker 3: Yeah, but you know, should something go wrong, as you know,

896
00:42:40,800 --> 00:42:44,560
Speaker 3: that's how I think he's arguably potentially going to be

897
00:42:44,600 --> 00:42:48,240
Speaker 3: in a worse situation because he's become reliant on another person.

898
00:42:48,440 --> 00:42:51,200
Speaker 3: So I think you really nailed it, V And you said,

899
00:42:51,280 --> 00:42:54,760
Speaker 3: it's so kind of this listener to want to help.

900
00:42:55,160 --> 00:42:58,040
Speaker 3: But maybe when you have that conversation you look at

901
00:42:58,040 --> 00:43:01,520
Speaker 3: approaching it around what options are there to further his

902
00:43:01,719 --> 00:43:05,040
Speaker 3: education and eventually lead him to a position where he

903
00:43:05,080 --> 00:43:08,560
Speaker 3: can comfortably be at least mostly independent.

904
00:43:08,800 --> 00:43:11,760
Speaker 2: I agree. Is that our or we've got time for today?

905
00:43:11,800 --> 00:43:12,120
Speaker 1: Guys.

906
00:43:12,239 --> 00:43:17,400
Speaker 2: She's on the relationship advice she is on the advice columns.

907
00:43:17,680 --> 00:43:21,040
Speaker 2: Will be Dolly Doctor next week for anybody who is

908
00:43:21,080 --> 00:43:23,560
Speaker 2: going to tune in then, But till then, I do

909
00:43:23,600 --> 00:43:26,000
Speaker 2: think that that is all we have time for today.

910
00:43:26,200 --> 00:43:28,320
Speaker 2: So just before we head off, we'd like to acknowledge

911
00:43:28,360 --> 00:43:32,280
Speaker 2: and pay respect to Australia's Aboriginal and Torres Strait islander people's.

912
00:43:32,520 --> 00:43:35,560
Speaker 2: They're the traditional custodians of the lands, the waterways and

913
00:43:35,600 --> 00:43:38,920
Speaker 2: the skies all across Australia. We thank you for sharing

914
00:43:39,000 --> 00:43:40,960
Speaker 2: and for caring for the land in which we are

915
00:43:41,040 --> 00:43:44,360
Speaker 2: able to learn. We pay respects to orders past and present,

916
00:43:44,400 --> 00:43:47,280
Speaker 2: and we share our friendship and our kindness.

917
00:43:47,040 --> 00:43:49,440
Speaker 4: And the advice shared on She's on the Money is

918
00:43:49,560 --> 00:43:53,240
Speaker 4: general in nature and does not consider out your individual circumstances.

919
00:43:53,680 --> 00:43:57,000
Speaker 4: She's on the Money exists purely for educational purposes and

920
00:43:57,000 --> 00:43:59,440
Speaker 4: should not be relied upon to make an investment or

921
00:43:59,440 --> 00:44:04,160
Speaker 4: a financial decision. Victoria Divine is an authorized representative of

922
00:44:04,280 --> 00:44:10,000
Speaker 4: in Focused Securities Australia Proprietary Limited ABN four seven zero

923
00:44:10,120 --> 00:44:12,320
Speaker 4: nine seven seven nine seven.

924
00:44:13,480 --> 00:44:17,280
Speaker 2: I'm sorry, struggled so much?

925
00:44:18,440 --> 00:44:26,000
Speaker 5: You are you? Okay? Three numbers?

926
00:44:22,520 --> 00:44:33,239
Speaker 4: You're okay, okay, let's go again. So Victoria Divine, that's you.

927
00:44:33,239 --> 00:44:37,600
Speaker 4: You're an authorized representative of Infocused Securities Australia Proprietary Limited

928
00:44:37,840 --> 00:44:41,080
Speaker 4: ABN four seven zero nine seven seven nine seven zero

929
00:44:41,120 --> 00:44:45,320
Speaker 4: four nine AFSL two three six five two three gosh.

930
00:44:47,719 --> 00:44:47,960
Speaker 3: Like that.

931
00:44:49,040 --> 00:44:49,759
Speaker 5: But you did it.

932
00:44:49,800 --> 00:44:53,560
Speaker 2: We got there. I'm proud of you. Yes, for anybody

933
00:44:53,640 --> 00:44:58,880
Speaker 2: who hasn't noticed, I have changed dealer groups. See you

934
00:44:58,920 --> 00:45:00,960
Speaker 2: next week, guys, my guys,