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Speaker 1: She's on the Money.

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

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Speaker 2: the Money, the podcast for millennials who want financial freedom.

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Speaker 2: My name is Georgia King. I'm a writer and TV

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Speaker 2: production assistant and I am someone who just really wants

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Speaker 2: to lift my game when it comes to all things money,

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Speaker 2: and to do that, I've enlisted the help of my

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Speaker 2: friend and money expert Victoria Define. Hello, surprise, it's me Victoria.

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Speaker 2: Today we're going to be talking about goal setting. It

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Speaker 2: sounds very simple, but it's the one thing in the

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Speaker 2: shoes on the Money Facebook group that we all seem

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Speaker 2: to get stuck on. We need your help. But before

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Speaker 2: we really dig in, let's kick things off by sharing

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Speaker 2: a money win or a money confession from our own lives. Victoria,

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Speaker 2: good or bad this week?

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Speaker 3: Mate?

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Speaker 4: It's good, I haven't. It's such a good.

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Speaker 3: It was going to be a money confession, but it's

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Speaker 3: now a win and I'm claiming it as such.

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Speaker 4: Fabulous.

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Speaker 3: So I was about to order something on a door

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Speaker 3: Beauty and I had it in my cart and I

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Speaker 3: was actually about to purchase it, and on my laptop

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Speaker 3: I have email notifications, and a notification popped up that

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Speaker 3: I got an email from a door beauty being like,

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Speaker 3: your fifteen dollar reward is waiting for the next twenty

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Speaker 3: four hours, and I was like, yeah, so I clicked

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Speaker 3: that code, popped it, and got fifteen dollars off my order.

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Speaker 3: And I feel like it wasn't going to be a

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Speaker 3: money lost because it was something I actually needed to purchase.

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Speaker 3: But it totally turned into a win. When I got

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Speaker 3: a code. It was as if they were reading my mind.

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Speaker 2: Ye, good from you mate, well done. What have you

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Speaker 2: got for me? I also have a win? Yeah, we

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Speaker 2: are winners, Yeah, winners. We are back at work and

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Speaker 2: I've actually I was gifted a coffee machine over the break,

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Speaker 2: So forget spending four dollars fifty on a latte every day.

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Speaker 4: What does that E calls sixty dollars a week?

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Speaker 2: Just kidding, I know it doesn't It still heaps. So yeah,

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Speaker 2: basically I'm I'm saving a bit of week on coffee.

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Speaker 1: Yeah.

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Speaker 3: Look, that was a weird even though your maths was

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Speaker 3: terrible because it was twenty two dollars fifty if you

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Speaker 3: have a coffee every day, unless you're having three a day,

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Speaker 3: in which case I can't fight that.

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Speaker 2: Mass don't judge me because I was good at English

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Speaker 2: at school and not maths. So I'm saving what was it,

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Speaker 2: twenty dollars a week ish?

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Speaker 3: All right, Well, you keep being the TV producer and

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Speaker 3: I'll keeping financial advisor.

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Speaker 2: All right, Victoria, Enough about my coffee habit and bad math. Yes,

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Speaker 2: once again, another huge week in the shoes on the

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Speaker 2: money community. Did anything stick out to you this week

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Speaker 2: was particularly amazing?

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Speaker 4: Yes, talk to me.

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Speaker 3: I actually have a really fun money win. I don't

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Speaker 3: know if it's a money win, but I just really

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Speaker 3: liked her post. So this post is from Hania, and

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Speaker 3: she said what's everyone's money goals for twenty twenty, And

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Speaker 3: then she listed a whole heap of her money goals

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Speaker 3: and she said that she wants to double her income.

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Speaker 3: She wants to start investing on the stock market. She

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Speaker 3: wants to give more to charity and start making super

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Speaker 3: contributions because she says she's self employed. She also wants

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Speaker 3: to have twenty five thousand dollars in savings and beat

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Speaker 3: the feast or famine cycle that she's been struggling with

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Speaker 3: since going freelance. So she says there's heaps on her plate,

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Speaker 3: but she's feeling so motivated because of this group, and

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Speaker 3: she just wanted to hear everybody else's goals.

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Speaker 2: I love her energy.

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Speaker 3: I did too, and there were literally hundreds of comments

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Speaker 3: on her post of other people sharing their goals and

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Speaker 3: what a way to bring in this episode.

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Speaker 4: Have you got something for me?

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Speaker 5: I do?

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Speaker 2: Mine is from eighteen year old Mikayla, who was the

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Speaker 2: first time poster, and she really just wanted to thank

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Speaker 2: the community for helping her save twenty four thousand dollars

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Speaker 2: in twelve months. She also went on two overseas holidays

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Speaker 2: and she's booked another one in March. She wrote about

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Speaker 2: how grateful she is to all of you for keeping

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Speaker 2: her inspired, feeling supported, really helping her to reach her

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Speaker 2: goals and she can't wait to smash plenty more in

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Speaker 2: twenty twenty. I love it, Go to Mikayla. Now, though,

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Speaker 2: let's get into the show, Victoria. Research suggests that if

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Speaker 2: you can create specific accountability, you'll increase your answers of

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Speaker 2: completing a goal you set by up to ninety five percent, which,

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Speaker 2: if we're being honest, is basically one hundred percent Victoria.

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Speaker 2: Why are goal so important? All right?

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Speaker 4: So definitely not one hundred percent.

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Speaker 3: You're talking to a financial advisor here, that five percent

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Speaker 3: is really important. We know setting goals is important. We

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Speaker 3: talk about it all the time. You know, we're in

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Speaker 3: a new year. We are setting goals because we're motivated

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Speaker 3: to do so. We often like, all right, new year,

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Speaker 3: knew me, clean slate, let's do this. But the important

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Speaker 3: thing here is actually setting goals that we can achieve.

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Speaker 3: Too many times do we set goals that we are

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Speaker 3: unable to achieve, And the easiest way to get derailed

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Speaker 3: and feel demotivated is to set a goal that actually

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Speaker 3: doesn't work out for us. And we heard this in

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Speaker 3: the last season of the podcast, where we had a

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Speaker 3: couple of people who had set goals but hadn't achieved them,

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Speaker 3: and the reasons they hadn't achieved them was because they

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Speaker 3: had actually set goals that were outside of the scope

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Speaker 3: of their ability. So one person in the first season

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Speaker 3: set the goal of saving ten thousand dollars, but she

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Speaker 3: was still a student and had spent eight grand on

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Speaker 3: her in visiline treatment and had I think it was

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Speaker 3: like twenty thousand dollars worth of income, So that was

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Speaker 3: actually just unreasonable for her to have.

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Speaker 4: Expected that of herself.

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Speaker 3: So it became abundantly clear that we needed to do

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Speaker 3: an episode on how to set goals that we can

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Speaker 3: actually achieve, because as mundane as it sounds, it's really not.

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Speaker 2: Okay, Victoria, So I've got a lot of goals I

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Speaker 2: want to meet for twenty twenty. How do I figure

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Speaker 2: out what is actually attainable and what I can truly

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Speaker 2: achieve and what's just not ever going to work for me?

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Speaker 3: It's all about being super clear. Setting goals that we

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Speaker 3: can actually achieve means committing to them as well. So

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Speaker 3: you could say, Victoria, I want to save ten thousand.

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Speaker 4: Dollars this year. That's a fab goal.

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Speaker 3: If you've got a goal to go overseas twice and

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Speaker 3: also purchase a new car, I think we need to

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Speaker 3: really reprioritize what that looks like because for someone on

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Speaker 3: an average salary, all those things aren't possible at once.

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Speaker 3: We can actually achieve everything together. The thing we can't do, though,

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Speaker 3: is achieve it all at once. So we need to

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Speaker 3: be logical about what we are set in and how

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Speaker 3: it's going to work. And my favorite way to go

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Speaker 3: about this is actually to work backwards, saying, all right,

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Speaker 3: what is the final outcome and when do I want

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Speaker 3: to have that achieved by and then going all right,

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Speaker 3: well what will that.

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Speaker 4: Cost me per month?

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Speaker 3: So if you're in a position where you said, and

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Speaker 3: I'm going to use that example of ten thousand dollars again,

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Speaker 3: if you said to me, Victoria, I want to save

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Speaker 3: ten thousand dollars by Christmas time next year, and it's January.

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Speaker 3: All right, we've got twelve months to achieve that goal.

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Speaker 3: Let's work backwards. Can you logically save just over eight

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Speaker 3: hundred dollars a month for that goal? And you might say, oh,

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Speaker 3: that's a lot of money. I also want to buy

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Speaker 3: a car, Well, which one are you prioritizing?

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Speaker 1: More?

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Speaker 3: Goal setting for me is a little bit like a

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Speaker 3: process of elimination, where it's really nice to be really

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Speaker 3: open and optimistic about it at the beginning. Write down

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Speaker 3: all of your goals and ideas on paper, put numbers

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Speaker 3: to them, put figures through them, pop a timeframe on it,

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Speaker 3: and then work towards it in a more constructive way.

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Speaker 3: Because the easiest way to feel like you can't go

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Speaker 3: anywhere is to set a goal that I actually looks

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Speaker 3: like you're not going anywhere. This episode and what we

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Speaker 3: want to get out of it is understanding that I

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Speaker 3: know we're all probably in the mindset of fresh start,

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Speaker 3: new energy levels. We're all really high, so motivated to

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Speaker 3: get it done. Let's also be really constructive about it,

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Speaker 3: because I don't want you all falling off the bandwagon

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Speaker 3: come the end of March because a first of all

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Speaker 3: ticket came up and we've just put you, you know,

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Speaker 3: two steps behind on your savings goal because that took

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Speaker 3: half of the monthly allocated savings from you. Just being

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Speaker 3: really clear about your goals is really important. Vague or

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Speaker 3: generalized goals such as I just want to eat better

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Speaker 3: or I just want to save more money aren't going

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Speaker 3: to work. They're not going to serve you. They are

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Speaker 3: not going to get you where you need to go.

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Speaker 3: We need to be so specific, We need to be

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Speaker 3: defined so we can actually measure things. And as much

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Speaker 3: as that doesn't sound exciting, measuring things actually means they're

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Speaker 3: going to happen. So what, when, where, how? How is

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Speaker 3: this going to happen? Whether that is a personal goal

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Speaker 3: or it's a money related goal like I'm going to

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Speaker 3: pay off credit card by March, is that something that

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Speaker 3: you can actually do? And if you've got a two

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Speaker 3: thousand dollars credit card, can you actually save one thousand

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Speaker 3: dollars a month to actually get to that goal? Or

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Speaker 3: are you putting unrealistic standards on yourself.

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Speaker 2: So what I'm hearing is I need to start running

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Speaker 2: to my goals. Victoriam right.

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Speaker 3: Yes, you are correct, and you also need to start

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Speaker 3: sharing them because if you can create accountability around your goals,

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Speaker 3: you're able to and absolutely more likely to achieve them,

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Speaker 3: whether that is sharing them with your friends, or your family,

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Speaker 3: or just your mum or maybe your cat. I think

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Speaker 3: it's really important to be visualizing these things but also

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Speaker 3: vocalizing them. So put it out to the universe, say

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Speaker 3: I'm going to do this, and this is how I'm

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Speaker 3: going to do it. All right, well do and let's

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Speaker 3: all remember that we are actually human and your journey

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Speaker 3: is not a straight line to success. We're in this

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Speaker 3: situation where nothing actually ever goes according to plan. If

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Speaker 3: we put a plan in place, we are better able

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Speaker 3: to track what we are trying to achieve. If we're

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Speaker 3: not on the bandwagon on Friday, we can always jump

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Speaker 3: back on a Monday and the plan is.

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Speaker 4: Already in place.

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Speaker 3: Our resolution for the next twelve months should be just

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Speaker 3: to keep going on. It's not about always being perfect.

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Speaker 3: It's more about how do I still achieve this goal?

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Speaker 3: And like we're saying, if you need to save just

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Speaker 3: over eight hundred dollars to save that ten thousand dollars

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Speaker 3: in the year, if you get off track, just realign it.

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Speaker 3: What do you now need to save per month? Then

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Speaker 3: you know where could you pull that additional savings from

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Speaker 3: so that you're still on track to achieve the bigger picture.

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Speaker 2: So basically, when I fall off that bandwagon, I can

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Speaker 2: just jump back on and it'll all be okay.

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Speaker 4: Absolutely, it'll all be okay.

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Speaker 3: We just need to be really realistic with ourselves and

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Speaker 3: not expect everything to be perfect. And what a better

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Speaker 3: way to do that than to have shared it already

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Speaker 3: with your friends so that they can motivate you to

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Speaker 3: get back on as well.

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Speaker 2: All right, done, it's a good plan.

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Speaker 4: So Georgia.

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Speaker 3: Before we head into the next part of the show,

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Speaker 3: we wanted to quickly share a message from today's sponsor,

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Speaker 3: verve Super.

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Speaker 4: Who are they well, Victoria.

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Speaker 2: Verv Super is Australia's first ethical super fun to tailored

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Speaker 2: for women. They also don't invest in fossil fuels like

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Speaker 2: new coal mines, or companies engaged in animal cruelty, weapons

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Speaker 2: or gambling. Plus, they're the first superfund only to invest

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Speaker 2: in companies with women on their boards, which is pretty huge.

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Speaker 3: Well, as we know, one of the most important things

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Speaker 3: we can do to improve our financial lot for the

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Speaker 3: future is to sort out our super and what a

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Speaker 3: better time to do it than the start of twenty twenty.

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Speaker 2: By twenty twenty five, Australian women will hold one point

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Speaker 2: five trillion dollars in superannuation, so we probably should start

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Speaker 2: the year off right by caring about which superfund is

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Speaker 2: going to help us long term, Which is why VERV

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Speaker 2: wanted to remind you guys that super is super important.

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Speaker 2: Given this is a goal setting episode. If you know

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Speaker 2: you haven't looked at your super in a while, or

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Speaker 2: you've got a few funds floating around, maybe this is

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Speaker 2: your friendly reminder to pop super on your list. To

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Speaker 2: find out more about VERV Super or to sign up online,

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Speaker 2: visit vervsuper dot com dot au.

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Speaker 3: When looking at changing your superannuation fund, it's really important

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Speaker 3: to take a number of factors into consideration, like the

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Speaker 3: fees associated and the insurances that come as standard. And

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Speaker 3: also please keep in mind that past performance is not

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Speaker 3: a reliable predictor of future performance. We suggest having a

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Speaker 3: chat to your friendly financial advisor. We're making decisions like this.

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Speaker 2: Hi. There, you've reached shees on the Money mailbox. Do

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Speaker 2: you have a money problem you want help solving. Do

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Speaker 2: you have a money dilemma you just want to chat about.

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Speaker 2: Victoria is here to help. Every week, we'll be playing

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Speaker 2: your questions to help make sense of the money mess

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Speaker 2: you may have found yourself in. Make a quick recording

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Speaker 2: on your phone and send it through to podcasts at

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Speaker 2: sheesoondthmoney dot com dot you and you might find yourself

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Speaker 2: on the show. But for now, here's today's question.

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Speaker 5: Hi, guys, I love the show and the principles in

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Speaker 5: the Facebook group. However, I thought i'd send this recording

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Speaker 5: through because even though I'm really motivated and absolutely love

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Speaker 5: the idea of saving money, I can never seem to

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Speaker 5: meet my goals, regardless of how big or small they are.

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Speaker 5: I just can't seem to achieve the goals I set.

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Speaker 5: I have a good income, so money coming in isn't

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Speaker 5: really an issue. So I feel as I'm a bit

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Speaker 5: stuck at the moment. I'd love to know your thoughts

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Speaker 5: and if you have any tricks to keep motivated once

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Speaker 5: the initial excitement has worn off. Thanks guys.

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Speaker 2: So what are some things she needs to think about

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Speaker 2: when setting goals?

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Speaker 3: Victoria, I think it's really important to realize, and I

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Speaker 3: feel like I might have said this a few times

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Speaker 3: in the podcast already, that achieving goals is actually really hard.

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Speaker 3: So we can set goals while we really motivated. But

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Speaker 3: people often fail to achieve their goals, not because the

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Speaker 3: goals they set were actually impossible, but because the goals

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Speaker 3: they set weren't actually set in the correct way. Maybe

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Speaker 3: the goal didn't have a really realistic time frame, or

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Speaker 3: perhaps the goal wasn't achieved because the person actually lost

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Speaker 3: motivation and they couldn't see any progress. And I think

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Speaker 3: we've all been a little bit guilty of that at

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Speaker 3: some point in our lives. What I actually think we

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Speaker 3: need to do is use a framework for our goal setting.

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Speaker 3: This is something I do with my clients all the time,

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Speaker 3: and as much as it sounds silly, it puts us

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Speaker 3: in a position where we are able to really quantify

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Speaker 3: what that goal means and how we can achieve it

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Speaker 3: over the long term.

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Speaker 2: Victoria A. Since you're going to start talking to us

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Speaker 2: about the smart goal methodology, am I right in my assessment?

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Speaker 4: Look, you're not wrong.

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Speaker 3: So many who you have probably already heard me talk

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Speaker 3: about the smart goal methodology. But you know what, I'm

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Speaker 3: going to keep harping on about it because sometimes the

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Speaker 3: best solution is actually the simplest. And as I said,

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Speaker 3: working backwards is really important to me. And this is

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Speaker 3: a framework around two of my favorite things, goal setting

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Speaker 3: and money problems.

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Speaker 4: Even though I've spoken about it.

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Speaker 3: Before, and if you look up smart goals in the

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Speaker 3: Facebook community, you'll be able to find a whole heap

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Speaker 3: more information on this and a template. You are welcome,

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Speaker 3: But it's something I use with my clients all the time.

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Speaker 3: One of the most important things when setting goals is

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Speaker 3: to be realistic. And I know I keep saying that,

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Speaker 3: but the fastest way to lose your motivation is to

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Speaker 3: set a goal that's unrealistic or unachievable. You won't want

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Speaker 3: to go back to it, and actually puts us in

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Speaker 3: a position where we then begin to think that goals

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Speaker 3: for us are unachievable in general. If we start to

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Speaker 3: feel like we are consistently failing on something. Setting a

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Speaker 3: new goal just feels unachievable before you even begin with

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Speaker 3: the smart goal methodology helps us maintain not only our motivation,

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Speaker 3: but also keeps us on track. Smart goals can be

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Speaker 3: applied to anything in your life, whether that's financial or

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Speaker 3: personal goals, whether it's doing more yoga, saving for a

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Speaker 3: house deposit, or affording a holiday. Being clear on the

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Speaker 3: goals that you set and how we can achieve them

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Speaker 3: is actually the start line of your journey. And if

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Speaker 3: we don't know where we're beginning, how on earth are

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Speaker 3: we meant to know where we're going. If I gave

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Speaker 3: you a map with no directions, where would you be going?

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Speaker 2: Begin and lost?

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Speaker 4: Victoria exactly.

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Speaker 3: So let's work out what the start line looks like.

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Speaker 3: Set out a clear path and a starting gun to

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Speaker 3: let us know when to actually start, and a ribbon

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Speaker 3: to run through at the end to let you know

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Speaker 3: that you've achieved your goal. We are all going to

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Speaker 3: be able to achieve goals quicker, faster, better and over

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Speaker 3: the long term.

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Speaker 2: Love the Olympic reference there, Victoria.

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Speaker 4: You are so welcome. I tried really hard with that one.

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Speaker 2: By the way, okay, Victoria, So for those playing along

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Speaker 2: at home who haven't heard of the smart methodology that

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Speaker 2: you love so dearly, can you give us a little recap.

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Speaker 3: Smart actually is an acronym and it stands for specific, measurable, attainable, relevant,

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Speaker 3: and timely. And these are the five factors that I

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Speaker 3: like to take into consideration when setting goals. If we

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Speaker 3: don't meet one of those criteria when setting a goal,

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Speaker 3: it makes it harder to achieve. If we're not setting

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Speaker 3: a goal that's relevant for us, we're probably going to

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Speaker 3: lose motivation over the long term. If we don't set

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Speaker 3: a time on it. How do we know when we've

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Speaker 3: actually achieved it or not achieved something? For me, the

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Speaker 3: smart goal methodology is a very simple way of creating

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Speaker 3: a structure around a goal so we make sure we

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Speaker 3: can achieve it.

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Speaker 2: Alright, So this is starting to make sense to me,

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Speaker 2: and I'm feeling like I probably need to start doing

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Speaker 2: some of these.

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Speaker 4: Myself, Victoria.

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Speaker 2: If people are listening to this and really struggling to

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Speaker 2: find motivation to set a new goal, what exactly would

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Speaker 2: you recommend?

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Speaker 3: I think it's about going broad and then funneling it

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Speaker 3: in write down all of the goals and things you

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Speaker 3: would like to achieve, and then go through that list

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Speaker 3: and highlight the things that are most important to you

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Speaker 3: what is jumping off that page. As I said earlier,

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Speaker 3: we can actually achieve everything, we just can't do it

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Speaker 3: at once. When setting goals, I really like to limit

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Speaker 3: myself to a total of five are ones. And as

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Speaker 3: much as I definitely have more than five goals, it

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Speaker 3: doesn't mean I'm always actively working towards them. If you

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Speaker 3: put too many goals on your plate at one time,

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Speaker 3: you're actually going to lose not only motivation, but you

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Speaker 3: won't have the energy all resources needed to achieve those goals,

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Speaker 3: and therefore you spread yourself too thin. To break this

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Speaker 3: even further down, I really like to of my five goals,

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Speaker 3: and this might be a little bit pedantic, but bear

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Speaker 3: with me. I like to have one long term goal,

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Speaker 3: so something I'm trying to achieve over the next ten years,

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Speaker 3: two medium term goals which I'm trying to achieve in

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Speaker 3: the next three to five is years, and two short

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Speaker 3: term goals and those are the goals that I am

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Speaker 3: trying to smash out in the next twelve months. If

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Speaker 3: you tick off a goal early fantastic. You actually get

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Speaker 3: to replace it with a new one, and I really

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Speaker 3: like doing that because I feel like having a constricted

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Speaker 3: list of goals means I'm really forced to prioritize what's

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Speaker 3: really important to me and what's important to my life,

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Speaker 3: and it stops things from feeling really overwhelming and forces

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Speaker 3: me to consistently reassess whether those things are still a priority.

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Speaker 3: Like if I'm only allowed five things, are those five

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Speaker 3: things worthy of being on the list. I talk to

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Speaker 3: clients about this all the time, because the first thing

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Speaker 3: people are going to say to me is, but, Victoria,

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Speaker 3: I have so many more goals. Keep a wish list,

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Speaker 3: and every time you knock something off that goal list,

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Speaker 3: you can take something from your wish list and add

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Speaker 3: it to your goal list. As much as it sounds

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Speaker 3: a little bit savage to only have five goals at once,

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Speaker 3: creating a list of five goals and achieving them over

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Speaker 3: long term is going to take some time, but it

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Speaker 3: ultimately provides you with the clarity that we are looking

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Speaker 3: for so that we can always stay on track.

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Speaker 2: I think what I love about that, Victoria is that

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Speaker 2: it's not just these giant goals that are you know,

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Speaker 2: ten or twenty years of like buying a house, if

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Speaker 2: that'll ever happen, you know you're gonna be ticking things

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Speaker 2: off along the way by having smaller goals and feeling

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Speaker 2: like you're achieving. So that's pretty big.

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Speaker 5: Yeah.

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Speaker 3: I think it's really important to make sure that we

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Speaker 3: are actually rewarding ourselves along the way and ticking things off.

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Speaker 4: A list is just so satisfying.

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Speaker 2: Love a list. Okay, now for the fun stuff. What

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Speaker 2: good would a money podcast be without the pervy stuff.

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Speaker 2: Now it's time for money Diary. Let's get into it.

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Speaker 5: Hi.

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Speaker 1: I'm twenty three and my name is Snakes and Ladders.

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Speaker 1: I called myself Snakes and Ladders for the podcast just

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Speaker 1: because I feel like ever since I've started working, I've

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Speaker 1: always been saving up for some big items, sort of

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Speaker 1: around the ten thousand dollars a year, and then once

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Speaker 1: I'd hit that, I'd obviously been saving for it, and

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Speaker 1: so then I'd spend it, and then I'd sort of

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Speaker 1: be back to square one. So sea up and down

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Speaker 1: like a game of Snakes and Ladders.

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Speaker 2: Today's money diarist grows by the name Snakes and Ladders

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Speaker 2: and is pretty amazing with her money.

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Speaker 1: I would say that my relationship with money is fairly positive.

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Speaker 1: I've been working since I was about fifty and have

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Speaker 1: always had a job since that point in time. I've

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Speaker 1: always been encouraged to save and save up for big

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Speaker 1: ticket items in cash. But I feel like things could

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Speaker 1: still be better, so always looking for ways to improve.

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Speaker 1: I just finished UNI last year, so I'm finishing up

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Speaker 1: my role as a disability support worker and in the

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Speaker 1: process of starting work as an occupational therapist, so I'll

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Speaker 1: be working with people of different ages who have disabilities

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Speaker 1: and on the National Disability Insurance scheme.

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Speaker 2: Alrighty, so now we know what she does. Let's get

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Speaker 2: into the juicy stuff. How much does she earn and

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Speaker 2: how much is sitting in her bank account right now?

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Speaker 1: Currently, I'm sort of earning a different amount each week

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Speaker 1: because I was working casually, so I'd probably say on

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Speaker 1: average maybe about four hundred and fifty a week. And

440
00:19:46,680 --> 00:19:49,720
Speaker 1: at the moment, my bank accounts, because there's multiple are

441
00:19:49,760 --> 00:19:53,000
Speaker 1: sitting at about seventeen thousand dollars, but about four thousand

442
00:19:53,040 --> 00:19:54,879
Speaker 1: of that is sort of reserved for bills and stuff

443
00:19:54,880 --> 00:19:57,200
Speaker 1: I have annually that are sort of between March and May.

444
00:19:57,240 --> 00:19:58,160
Speaker 2: What about debts.

445
00:19:58,720 --> 00:20:01,240
Speaker 1: The only debt I have at the moment is my

446
00:20:01,400 --> 00:20:04,440
Speaker 1: hex step from UNI, which I think is about thirty

447
00:20:04,480 --> 00:20:07,440
Speaker 1: eight thousand dollars. But I also took out an extra

448
00:20:07,480 --> 00:20:09,600
Speaker 1: four thousand dollars to go overseas for one of my

449
00:20:09,720 --> 00:20:13,200
Speaker 1: unique placements, went over to Vanawati, which was definitely worth it.

450
00:20:13,280 --> 00:20:16,200
Speaker 2: So what exactly happens to her money once it's deposited

451
00:20:16,320 --> 00:20:17,280
Speaker 2: into her account?

452
00:20:17,480 --> 00:20:19,879
Speaker 1: I put most of it into sort of my longer

453
00:20:19,960 --> 00:20:23,080
Speaker 1: term savings account, which at the moment I have reserved

454
00:20:23,160 --> 00:20:25,480
Speaker 1: to save up to move out, and I'm also saving

455
00:20:25,480 --> 00:20:27,440
Speaker 1: for a trip to Canada, so some of it goes there.

456
00:20:27,680 --> 00:20:29,520
Speaker 1: Then a little bit I have on a bank card

457
00:20:29,600 --> 00:20:31,960
Speaker 1: just for whatever splash money I want to have on

458
00:20:32,280 --> 00:20:35,360
Speaker 1: whatever I want to buy. Then a little bit goes

459
00:20:35,359 --> 00:20:38,040
Speaker 1: into a separate bank account with a separate bank for

460
00:20:38,119 --> 00:20:41,200
Speaker 1: my emergency fund, and then the others all go into

461
00:20:41,240 --> 00:20:42,680
Speaker 1: the bills accounts as well.

462
00:20:42,760 --> 00:20:45,640
Speaker 2: Alrighty, So how does Snakes and Latters feel about investing?

463
00:20:45,880 --> 00:20:46,680
Speaker 4: Does she invest?

464
00:20:46,760 --> 00:20:47,280
Speaker 2: And if so?

465
00:20:47,640 --> 00:20:48,159
Speaker 4: How so?

466
00:20:48,240 --> 00:20:51,040
Speaker 1: When it comes to investing, I've just started using a

467
00:20:51,160 --> 00:20:54,480
Speaker 1: micro investing platform sort of just before around Christmas time,

468
00:20:54,640 --> 00:20:58,080
Speaker 1: so I do invest, but I've just started, but my

469
00:20:58,160 --> 00:21:00,760
Speaker 1: plan for what I do have in that platform is

470
00:21:00,800 --> 00:21:03,960
Speaker 1: to help it hit a certain amount and then decide

471
00:21:03,960 --> 00:21:06,040
Speaker 1: what to do with it and get some advice about that.

472
00:21:06,200 --> 00:21:09,080
Speaker 1: I definitely see the value in investing, but I just

473
00:21:09,119 --> 00:21:11,159
Speaker 1: think it's something I need to learn more about, and

474
00:21:11,200 --> 00:21:13,080
Speaker 1: I think as I do that, I would feel better

475
00:21:13,119 --> 00:21:15,159
Speaker 1: about it. Like I know at the moment it's a

476
00:21:15,160 --> 00:21:17,880
Speaker 1: good thing to do over time, but it's just yeah,

477
00:21:17,880 --> 00:21:20,280
Speaker 1: I suppose that's still initial sort of phase of starting

478
00:21:20,280 --> 00:21:20,840
Speaker 1: something new.

479
00:21:21,119 --> 00:21:24,160
Speaker 2: So and how does today's money diarist feel about making

480
00:21:24,200 --> 00:21:25,639
Speaker 2: decisions when it comes to money?

481
00:21:25,720 --> 00:21:28,399
Speaker 1: I think to a certain extent, I think when it

482
00:21:28,400 --> 00:21:33,080
Speaker 1: comes to making decisions around money that it's sort of

483
00:21:33,359 --> 00:21:35,959
Speaker 1: when it comes to spending or knowing what I want

484
00:21:36,000 --> 00:21:38,680
Speaker 1: to save up to spend, I feel confident. But when

485
00:21:38,720 --> 00:21:41,240
Speaker 1: it comes to things about I suppose deciding where to

486
00:21:41,240 --> 00:21:44,679
Speaker 1: put my money, like whether it's an investment or you know,

487
00:21:44,960 --> 00:21:47,159
Speaker 1: if you know someone of my age should even be

488
00:21:47,240 --> 00:21:50,399
Speaker 1: looking at contributing to super voluntarily or something like that,

489
00:21:50,440 --> 00:21:52,359
Speaker 1: I'm a bit sort of still confused about it or

490
00:21:52,359 --> 00:21:55,720
Speaker 1: need to read more about it. So for the most part, yes,

491
00:21:55,840 --> 00:21:57,520
Speaker 1: but also probably could be better as well.

492
00:21:57,640 --> 00:21:59,840
Speaker 2: Does next and latterers have any good money habits that

493
00:22:00,119 --> 00:22:01,200
Speaker 2: is especially proud of.

494
00:22:01,400 --> 00:22:03,800
Speaker 1: The main good money habit that really jumps to my

495
00:22:03,880 --> 00:22:07,159
Speaker 1: mind is that I have a spreadsheet that I've been

496
00:22:07,240 --> 00:22:09,119
Speaker 1: using for the last two years ry I list all

497
00:22:09,200 --> 00:22:12,880
Speaker 1: of my spending, which has been helpful mainly because I've

498
00:22:12,880 --> 00:22:15,080
Speaker 1: been able to not only track where everything goes, but

499
00:22:15,240 --> 00:22:16,439
Speaker 1: pick up on habits.

500
00:22:16,440 --> 00:22:17,360
Speaker 4: So I didn't know that I had.

501
00:22:18,080 --> 00:22:20,760
Speaker 1: So for instance, I found out anytime I was going

502
00:22:20,800 --> 00:22:23,000
Speaker 1: out somewhere, like to an appointment, and I was early,

503
00:22:23,119 --> 00:22:25,119
Speaker 1: I'd go and get a snack or a coffee or something,

504
00:22:25,160 --> 00:22:27,320
Speaker 1: and all of those little things were adding up. So

505
00:22:27,440 --> 00:22:29,520
Speaker 1: now I just don't do that because I know it

506
00:22:29,560 --> 00:22:33,120
Speaker 1: adds up over time. And then probably the other thing

507
00:22:33,320 --> 00:22:37,680
Speaker 1: as well is using sort of apps to help split

508
00:22:37,760 --> 00:22:40,200
Speaker 1: costs with friends as well, so when you go out,

509
00:22:40,359 --> 00:22:42,159
Speaker 1: not one person's footing the bill. And I think it

510
00:22:42,240 --> 00:22:44,880
Speaker 1: also helps us to all chat about money a bit

511
00:22:44,880 --> 00:22:47,120
Speaker 1: easier as well, because no one feels like they're being

512
00:22:47,160 --> 00:22:48,320
Speaker 1: unfair towards another person.

513
00:22:48,480 --> 00:22:50,440
Speaker 2: And what about her worst money habit?

514
00:22:50,760 --> 00:22:54,800
Speaker 1: My worst money habit would probably be maybe not fully

515
00:22:54,920 --> 00:22:57,840
Speaker 1: thinking through how much things would cost before I actually

516
00:22:57,840 --> 00:23:00,359
Speaker 1: do them, So like say, for example, the middle of

517
00:23:00,440 --> 00:23:03,399
Speaker 1: last year, I booked a plane ticket to go and

518
00:23:03,440 --> 00:23:05,760
Speaker 1: visit a friend that lives in England, and I just

519
00:23:05,800 --> 00:23:07,880
Speaker 1: booked the plane ticket and then I was like, I'll

520
00:23:07,920 --> 00:23:09,119
Speaker 1: just figure it out later because I was on a

521
00:23:09,200 --> 00:23:11,159
Speaker 1: uniqu placement at the time and I was busy, and

522
00:23:11,200 --> 00:23:13,000
Speaker 1: it all worked out because I had money in the

523
00:23:13,000 --> 00:23:15,920
Speaker 1: bank that I could draw upon. But I think in hindsight,

524
00:23:15,960 --> 00:23:18,840
Speaker 1: I probably should have actually done a rough estimate of things.

525
00:23:18,680 --> 00:23:21,920
Speaker 2: First, what is our money dirist actually saving for? What's

526
00:23:21,920 --> 00:23:23,280
Speaker 2: her big money goal at the moment.

527
00:23:23,480 --> 00:23:25,720
Speaker 1: The things that I'm saving for at the moment would

528
00:23:25,720 --> 00:23:29,080
Speaker 1: be mainly my trip to Canada, which I'm hoping to

529
00:23:29,160 --> 00:23:31,800
Speaker 1: do the year after next, so twenty twenty one. So

530
00:23:32,080 --> 00:23:34,320
Speaker 1: I started saving for that the middle of last year,

531
00:23:34,480 --> 00:23:36,480
Speaker 1: just by putting a little bit aside each paycheck, and

532
00:23:36,520 --> 00:23:39,040
Speaker 1: that's really added up. So looking forward to saving up

533
00:23:39,080 --> 00:23:41,879
Speaker 1: for that over the next year. But other than that,

534
00:23:42,800 --> 00:23:45,119
Speaker 1: just saving up for a rainy day and saving up

535
00:23:45,119 --> 00:23:47,280
Speaker 1: to move out as well, sort of hopefully some point

536
00:23:47,320 --> 00:23:47,880
Speaker 1: this year.

537
00:23:47,920 --> 00:23:50,560
Speaker 2: New Year, New Goals. What does twenty twenty look like

538
00:23:50,640 --> 00:23:51,560
Speaker 2: for snacks and ladders?

539
00:23:51,720 --> 00:23:54,199
Speaker 1: I suppose it's the money goals for this year is

540
00:23:54,200 --> 00:23:58,919
Speaker 1: more about hitting specific amounts in certain accounts, So like

541
00:23:58,960 --> 00:24:01,000
Speaker 1: with the Canada account, I want to have six grain

542
00:24:01,040 --> 00:24:02,240
Speaker 1: by the end of the year so it can start

543
00:24:02,280 --> 00:24:04,080
Speaker 1: paying things off. Because now I'm going to have annual

544
00:24:04,200 --> 00:24:06,480
Speaker 1: leave to use while I'm away, so I won't need

545
00:24:06,520 --> 00:24:08,640
Speaker 1: to save up for the full amount before I start

546
00:24:08,680 --> 00:24:11,480
Speaker 1: booking things, if that makes sense or yeah, having a

547
00:24:11,480 --> 00:24:14,040
Speaker 1: certain amount ready for when I move out.

548
00:24:14,119 --> 00:24:17,280
Speaker 2: Now. Does our Snakes and Ladders lass have any hacks

549
00:24:17,320 --> 00:24:19,840
Speaker 2: she can share with the Shoes on the Money community.

550
00:24:19,400 --> 00:24:21,440
Speaker 1: I'd say, like, my best hack for saving money is

551
00:24:21,480 --> 00:24:23,359
Speaker 1: always trying to find a better deal somewhere else. Like

552
00:24:23,440 --> 00:24:27,720
Speaker 1: whether it's using you know, vouchers to get discounts on

553
00:24:27,800 --> 00:24:30,800
Speaker 1: meals or group on to get cheap massages or whatever

554
00:24:30,840 --> 00:24:32,200
Speaker 1: it is you want to do, you can always find

555
00:24:32,200 --> 00:24:34,399
Speaker 1: a better deal somewhere else. I love using vouchers. I

556
00:24:34,440 --> 00:24:36,919
Speaker 1: think that people need to probably be using more of them.

557
00:24:36,960 --> 00:24:38,840
Speaker 1: They're there to be used, you know, they're out. They

558
00:24:38,880 --> 00:24:41,639
Speaker 1: help bring business into shops that might otherwise need it,

559
00:24:41,760 --> 00:24:43,480
Speaker 1: and you know you get to try a holoda cool

560
00:24:43,520 --> 00:24:46,000
Speaker 1: new places, So no shame it used to work in hospitality.

561
00:24:46,000 --> 00:24:47,399
Speaker 1: I don't care if someone gave me a voucher I

562
00:24:47,520 --> 00:24:49,960
Speaker 1: just use It's what's there for. Even shopper dockets still

563
00:24:49,960 --> 00:24:52,239
Speaker 1: around as well. There's so many good ones you can use.

564
00:24:52,280 --> 00:24:53,840
Speaker 1: You just got to check in. You know, you never

565
00:24:53,920 --> 00:24:56,320
Speaker 1: might get lucky. One time, my family and I we

566
00:24:56,400 --> 00:24:58,960
Speaker 1: got three days free airport parking from a shopper docket,

567
00:24:58,960 --> 00:24:59,440
Speaker 1: so you never know.

568
00:24:59,600 --> 00:25:02,720
Speaker 2: And finally, how would today's money diarist rate her own

569
00:25:02,760 --> 00:25:03,800
Speaker 2: relationship with money.

570
00:25:04,480 --> 00:25:10,440
Speaker 1: I'd probably rate my relationship with money maybe a B plus,

571
00:25:10,880 --> 00:25:13,840
Speaker 1: just because I feel like I have really solid habits

572
00:25:13,840 --> 00:25:16,359
Speaker 1: that I've started early on, and I think those have

573
00:25:16,480 --> 00:25:19,400
Speaker 1: the potential to carry me through quite well. But it's

574
00:25:19,440 --> 00:25:22,400
Speaker 1: just a matter of I suppose fine tuning and tweaking

575
00:25:22,440 --> 00:25:25,560
Speaker 1: things and learning about those other things that I've mentioned

576
00:25:25,560 --> 00:25:28,680
Speaker 1: that I haven't yet learned about, like investing and doing

577
00:25:28,720 --> 00:25:29,399
Speaker 1: that better.

578
00:25:29,720 --> 00:25:32,040
Speaker 2: Snakes and ladders, Victoria, what did you reckon?

579
00:25:32,480 --> 00:25:36,040
Speaker 3: I loved it? How good was she? How savvy, very incredible.

580
00:25:36,080 --> 00:25:38,280
Speaker 3: I absolutely loved her shopper docket tip.

581
00:25:38,320 --> 00:25:39,480
Speaker 2: That was my favorite as well.

582
00:25:39,560 --> 00:25:41,760
Speaker 3: I actually can't remember the last time I looked at

583
00:25:41,800 --> 00:25:44,840
Speaker 3: the back of receipt and I just feel like I've

584
00:25:44,880 --> 00:25:47,080
Speaker 3: been missing out, Like how many shopper dockets. If I

585
00:25:47,080 --> 00:25:48,560
Speaker 3: put in the bin and missed out.

586
00:25:48,359 --> 00:25:50,360
Speaker 2: On, imagine all the deals you're just throwing away. Girl.

587
00:25:50,480 --> 00:25:52,520
Speaker 3: I know I'm going to look next time, I promise.

588
00:25:52,720 --> 00:25:54,840
Speaker 3: But I thought she was really, really great. I thought

589
00:25:54,840 --> 00:25:58,119
Speaker 3: she had some really good tips, but also was quite aware.

590
00:25:58,400 --> 00:26:00,600
Speaker 3: You could tell by the way that she explained her

591
00:26:00,640 --> 00:26:03,119
Speaker 3: money situation, how money comes into her account, and then

592
00:26:03,160 --> 00:26:05,920
Speaker 3: she did visit up to her goals and her savings.

593
00:26:06,000 --> 00:26:11,280
Speaker 3: That was absolutely incredible. I think that her B plus

594
00:26:11,359 --> 00:26:14,120
Speaker 3: rating was fair given she said that she didn't really

595
00:26:14,160 --> 00:26:16,720
Speaker 3: know much about investing, but I loved that she said

596
00:26:16,760 --> 00:26:18,600
Speaker 3: that she wanted to be investing more.

597
00:26:19,160 --> 00:26:20,800
Speaker 4: I also feel like.

598
00:26:21,520 --> 00:26:24,560
Speaker 3: Not to criticize, but I also think it's really important

599
00:26:24,560 --> 00:26:25,720
Speaker 3: to have some bigger goals.

600
00:26:25,840 --> 00:26:28,520
Speaker 2: I thought her goals were pretty amazing, but obviously you're

601
00:26:28,520 --> 00:26:30,919
Speaker 2: a financial advisor, so what would you say bigger long

602
00:26:31,000 --> 00:26:32,199
Speaker 2: term goals actually look like.

603
00:26:32,359 --> 00:26:34,720
Speaker 3: So it was fantastic that she's saving for Canada in

604
00:26:34,760 --> 00:26:37,760
Speaker 3: twenty twenty one. And I think it was fantastic that

605
00:26:38,400 --> 00:26:41,240
Speaker 3: she said I'm saving for a rainy day. But these

606
00:26:41,320 --> 00:26:45,240
Speaker 3: bigger goals are really important. So saving for something like

607
00:26:45,400 --> 00:26:49,360
Speaker 3: financial freedom or retirement is not too far away when

608
00:26:49,400 --> 00:26:52,119
Speaker 3: you're twenty three, so it feels far away, but it

609
00:26:52,160 --> 00:26:55,000
Speaker 3: is absolutely not. And the reason we want these bigger

610
00:26:55,080 --> 00:26:58,760
Speaker 3: financial goals in place is because why are we working.

611
00:26:58,920 --> 00:27:02,119
Speaker 3: We're working to create financial freedom, and financial freedom is

612
00:27:02,119 --> 00:27:04,840
Speaker 3: the thing that is going to make us money. So

613
00:27:04,920 --> 00:27:06,639
Speaker 3: the money that we invest is going to then make

614
00:27:06,720 --> 00:27:08,280
Speaker 3: us money so we don't have to go to work,

615
00:27:08,320 --> 00:27:10,359
Speaker 3: so we can go to Canada every year. So I

616
00:27:10,359 --> 00:27:12,879
Speaker 3: think we need to really see the bigger picture, not

617
00:27:13,320 --> 00:27:16,360
Speaker 3: just all right, I'm saving for Canada in twenty twenty one,

618
00:27:16,480 --> 00:27:19,320
Speaker 3: because what after that? What happens next? Where are the

619
00:27:19,359 --> 00:27:22,240
Speaker 3: next steps? Where are we going? But I think she's

620
00:27:22,280 --> 00:27:24,560
Speaker 3: absolutely on the right track. She's twenty three, she's just

621
00:27:24,600 --> 00:27:27,400
Speaker 3: started investing, she's got her whole life ahead of her,

622
00:27:27,720 --> 00:27:28,919
Speaker 3: and I absolutely loved it.

623
00:27:29,440 --> 00:27:32,320
Speaker 2: That is all we have time for today. But before

624
00:27:32,320 --> 00:27:35,679
Speaker 2: we head off, let's quickly wrap the boring but important stuff.

625
00:27:36,119 --> 00:27:38,000
Speaker 2: The advice shared on she is on the Money is

626
00:27:38,040 --> 00:27:41,200
Speaker 2: general in nature and does not consider your individual circumstances.

627
00:27:41,560 --> 00:27:45,040
Speaker 2: She's on the Money exists purely for educational purposes only,

628
00:27:45,320 --> 00:27:47,400
Speaker 2: and should not be relied upon to make an investment

629
00:27:47,520 --> 00:27:50,960
Speaker 2: or financial decision. And yes, don't worry. We promise. Victoria

630
00:27:51,000 --> 00:27:54,800
Speaker 2: to Mine is an authorized representative of Consultant Financial Advisors

631
00:27:54,880 --> 00:27:58,879
Speaker 2: Propriety Limited ABM six' five double six three seven three

632
00:27:59,119 --> 00:28:02,439
Speaker 2: nine nine five two three zero three two. Three and of,

633
00:28:02,480 --> 00:28:05,000
Speaker 2: course thank you to our lovely sound Engineer Chris burg

634
00:28:05,040 --> 00:28:05,880
Speaker 2: for making us sound.

635
00:28:06,040 --> 00:28:08,400
Speaker 3: Stunning we would love it if you joined Our facebook,

636
00:28:08,400 --> 00:28:11,800
Speaker 3: group where our community shares, money wins and confessions every single,

637
00:28:11,920 --> 00:28:12,520
Speaker 3: day free of.

638
00:28:12,600 --> 00:28:15,440
Speaker 4: Judgment Search she's on The money On facebook and join.

639
00:28:15,520 --> 00:28:18,600
Speaker 3: Us If facebook's not your, thing maybe find us On.

640
00:28:18,640 --> 00:28:21,800
Speaker 4: Instagram we're At she's on The money A. Us see

641
00:28:21,840 --> 00:28:27,320
Speaker 4: you guys next. Week bye, guys