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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. Welcome back to another

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Speaker 2: one of our Friday Drinks episodes, where this week we

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Speaker 2: do have the whole gang here to celebrate the money

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Speaker 2: wins from ow She's on the Money community. As we

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Speaker 2: all know, there are so many great money wins and

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Speaker 2: confessions that are shared every single week in our She's

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Speaker 2: on the Money group. And Jess, George and I have

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Speaker 2: spent a very big part of the last hour talking

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Speaker 2: about how great you are, so it only felt fair

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Speaker 2: to hit record and start sharing them with you. Friday

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Speaker 2: is about celebrating our community and having more positive and

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Speaker 2: constructive conversations around, So let's jump straight into it. Jess

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Speaker 2: and George together, Welcome back to the show.

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Speaker 3: Oh my gosh, everyone, Yeah, hey girl, the spicy cough

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Speaker 3: has not got us that far down, Absolutely not. Miss Arner,

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Speaker 3: not today.

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Speaker 2: Today, Satan, not today. And George, Jess, you're feeling better.

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Speaker 2: You're good on the mend on the men, never better

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Speaker 2: on the money. Good here all right, Jess, let's start

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Speaker 2: off with you tell us what happened this week? I

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Speaker 2: can't work out what was on money though.

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Speaker 3: Why sat That's because we didn't have an episode. Big

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Speaker 3: apology everyone who was waiting. Unfortunately we had a diarist

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Speaker 3: canceled last minute, which happens no heart to be great

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Speaker 3: at all. We've been known to need to move something

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Speaker 3: around as well. But it does leave us in a

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Speaker 3: bit of a tricky spot because with the Chrissy break

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Speaker 3: and everything, we normally have a couple in the bank,

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Speaker 3: but this time we just unfortunately didn't.

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Speaker 2: We'd used up all of our nine lives I had

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Speaker 2: then left, so sorry, that seems fair. It's like, on,

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Speaker 2: who wants to be a millionaire and you've got like

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Speaker 2: three lives that you can use, you can like phone

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Speaker 2: a friend or whatever. Like, we used all of those up.

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Speaker 2: But we promise Jesse's very organized, so I reckon we'll

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Speaker 2: get ahead very soon so it won't happen again. But

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Speaker 2: I mean, we're sorry, But also we don't want to

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Speaker 2: put junk interiors, so we didn't want to do like

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Speaker 2: a last minute ditch to try and like scrape something

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Speaker 2: together that just didn't hit the mark. It's just not

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Speaker 2: who we are, is it, guys, Not at all?

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Speaker 3: But we did have more success. On Wednesday, we did.

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Speaker 2: We actually got that episode in your ear? Is George?

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Speaker 2: What happened on the show?

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Speaker 1: Oh it was a fun one, guys. We spoke about

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Speaker 1: power of attorneys.

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Speaker 2: Oh my gosh, make it sound sexier, George show.

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Speaker 1: It sounds extremely bland, doesn't it, But as we learned

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Speaker 1: throughout the episode, it was actually super super interesting. And

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Speaker 1: I remember going into that at Bee. I was like,

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Speaker 1: how is this relevant? This sounds boring, Like what what

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Speaker 1: are we going to learn today? And we learned heaps, I.

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Speaker 2: Would love to think. So I remember bringing up the

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Speaker 2: topic with you and You're like what, and I was like, yes,

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Speaker 2: that is something we are going to talk about on

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Speaker 2: the podcast because everybody needs to know. George quick recap

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Speaker 2: what's the power of attorney? For those of us who

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Speaker 2: missed the EP?

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Speaker 1: So really long story short, A power of attorney is

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Speaker 1: essentially a legal document that outlines who will look after

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Speaker 1: your affairs in the event that you can no longer

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Speaker 1: look after them. So that might be that you suffer

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Speaker 1: from an illness that takes away your ability to make decisions,

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Speaker 1: or it might be that you're moving overseas and can't

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Speaker 1: look after your own affairs while you're away. So there's

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Speaker 1: a few different types. There's also medical power of attorneys.

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Speaker 2: And they're different. They're completely different, Yes, very much so.

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Speaker 1: But we also learned what happens if you don't have one,

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Speaker 1: how you go about choosing an appropriate person to be

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Speaker 1: your power of attorney, like there were there was heaps

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Speaker 1: in there.

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Speaker 2: It's really good. I I'm biased, so I think it

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Speaker 2: was a pretty good episode. Jess What were you about

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Speaker 2: to say?

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Speaker 3: I feel like it's one of those topics and we've

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Speaker 3: done a few of these in the past, and I

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Speaker 3: have a few on our lists to come up in

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Speaker 3: the coming months. But you don't think you need to

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Speaker 3: know about it until you need to know about it.

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Speaker 3: It's just a good topic to have in your back

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Speaker 3: pocket to make it real topical. For a second, anyone

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Speaker 3: who's been following miss Britney Spears and her conservativeship not

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Speaker 3: the exact same thing. Obviously, it's international. It's a conservatiship,

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Speaker 3: not a power of attorney. However, it does bring to

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Speaker 3: attention why we should be talking about this, because if

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Speaker 3: you don't have the knowledge and don't have things in

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Speaker 3: place when you perhaps might need them, you could find

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Speaker 3: yourself in a less than ideal situation.

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Speaker 1: Yeah, and we did. We spoke about that, so that's

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Speaker 1: yea well picked up jay Rick.

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Speaker 2: And I also think there's this massive misconception that a

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Speaker 2: power of attorney is something that wealthy people have, and

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Speaker 2: it's not. It's something that we all could have. Like George,

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Speaker 2: we've spoken about it before. It breaks my heart. But

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Speaker 2: at some point you want to go overseas leaving the

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Speaker 2: she's on the Putney team one day and travel and

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Speaker 2: live overseas and maybe we'll work out away for you

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Speaker 2: record remotely, but you know, we'll work it out as

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Speaker 2: we go. But that's something even you should go. Is

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Speaker 2: that something I need? It's not just for people who

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Speaker 2: have millions and millions of dollars And just in your example,

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Speaker 2: you're absolutely right, like Britney Spears is a massive example

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Speaker 2: of an abusive power and something we really should be

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Speaker 2: aware of and what can happen. Thankfully, conservative ships aren't

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Speaker 2: common in Australia. I don't even think they're legal, but

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Speaker 2: again I'm not a lawyer, so I don't want to

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Speaker 2: say they're not because I couldn't find enough information about

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Speaker 2: it online. However, it's not just wealthy people. It could

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Speaker 2: be me, It could be you, Jess, it could be George,

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Speaker 2: it could be you know, our parents needing to go

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Speaker 2: through that situation. So this is one if you've read

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Speaker 2: the title and you're like, oh, that's so irrelevant for me,

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Speaker 2: it's actually not. We all need to understand this, know

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Speaker 2: our rights and know our power. All right, George, onto

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Speaker 2: some more exciting and less dry content. I believe you

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Speaker 2: have been in the Facebook group once again this week

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Speaker 2: pulling out the money wins that you think should be

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Speaker 2: shared on the show. What have you got for us

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Speaker 2: this week? George?

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Speaker 1: Absolute beauties as per my Friends. The first money win

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Speaker 1: here comes from Shellini, So her money win this week

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Speaker 1: is that she actually went through and checked that she

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Speaker 1: had received Medicare rebates that she was entitled to, and

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Speaker 1: in doing so, she discovered that she didn't get one

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Speaker 1: for a psych appointment back in February. It was just

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Speaker 1: due to a little Medicare card number era, so not

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Speaker 1: a big deal, but she got one hundred and twenty

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Speaker 1: eight dollars fifty back just for putting in the effort

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Speaker 1: to have a little look see too.

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Speaker 3: Also applicable if you have private health because I know

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Speaker 3: that sometimes they won't do it when you're like on location,

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Speaker 3: and you can usually subit like up to twelve months

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Speaker 3: after you've used it. And so I went through my

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Speaker 3: private health doc and realized that I could claim my

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Speaker 3: contact lenses, which I didn't know who. Yeah, so I

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Speaker 3: went back and claimed like twelve months worth of contact lenses.

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Speaker 3: So amazing. Check your health stuff, ladies. Yeah, you could.

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Speaker 2: Claim contact lenses, but it makes sense because you can

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Speaker 2: claim optometry. So like I just I just wouldn't have

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Speaker 2: thought of that. She go check it out, Jesse, you

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Speaker 2: probably just saved someone this week a serious amount of money.

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Speaker 2: I love that.

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Speaker 1: Our next wind Ladies comes from Renata. This one's kind

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Speaker 1: of sad and happy at the same time. So Ranata's

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Speaker 1: ex and her actually split up two months after moving

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Speaker 1: into the house that they built together.

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Speaker 3: They ended up.

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Speaker 1: Selling the house, but they made three times more than

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Speaker 1: what they put into it because of how much the

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Speaker 1: property market has popped off in recent time.

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Speaker 2: Money win, guys, money win exactly.

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Speaker 1: So she's sad that the relationship has ended, but she's

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Speaker 1: managed to walk away with so much money and is

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Speaker 1: planning on building a house of her own within the

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Speaker 1: next twelve months.

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Speaker 2: So yeah, exciting. Congratulations my friend. How good is that?

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Speaker 1: Exactly? And I hope you're getting through the breakup. Okay,

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Speaker 1: it's always a horrible time, but this is exciting that

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Speaker 1: you have a big goal coming your way this year.

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Speaker 2: Absolutely.

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Speaker 1: Our next wind Gals is from ken So she's started

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Speaker 1: putting money aside for her car related expenses. A few

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Speaker 1: months ago after becoming a listener, she put her car

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Speaker 1: in for a routine service and was blind sided by

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Speaker 1: the need for four new tires. That always sucks when.

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Speaker 2: Seal audacity all of it should be a buy three,

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Speaker 2: get one free kind of sitch.

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Speaker 1: Luckily, though, she was able to pay for it without

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Speaker 1: using her credit card or by dipping into her savings,

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Speaker 1: which is the first for her, because she was putting

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Speaker 1: that money aside.

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Speaker 3: So clever, clever, little kid.

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Speaker 1: Our next one gals is from Hailey Huge money when

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Speaker 1: she writes moving Out edition, My partner and I move

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Speaker 1: out of home and in together. This weekend, I posted

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Speaker 1: on a local page where I live and managed to

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Speaker 1: score a free brand new couch washer and dryer. What yeah,

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Speaker 1: but there's more. On top of that, we've managed to

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Speaker 1: score a dining table, a coffee table, bedsides, outdoor set

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Speaker 1: and a barbecue for a total of one hundred and

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Speaker 1: fifty dollars.

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Speaker 2: Sorry, what bread, She's really drop the message that you

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Speaker 2: posted on that board because I think a few she's

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Speaker 2: on the money friends are going to want to copy

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Speaker 2: and paste that message into their own local boards to

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Speaker 2: see what they can get. But that kind of makes sense, right,

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Speaker 2: like popping a message in a community board being like, hey,

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Speaker 2: we're moving into the area, like we're new to this,

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Speaker 2: I'm so help reply to that.

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Speaker 3: There's a Facebook not a trend, but there's a lot

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Speaker 3: of buy nothing groups, which is where you have things

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Speaker 3: that you If you google like your area like Melbourne

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Speaker 3: buy nothing, they should come up. And it's local to

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Speaker 3: like suburbs. So you'll often find people who are like, hey,

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Speaker 3: like I've upgraded my dining table, does anyone want this one?

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Speaker 3: It's like a pay it forward, good for the environment

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Speaker 3: while worth plugging it interface seeing what you can get,

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Speaker 3: and then when you have something that maybe you need

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Speaker 3: to get rid of, do the same thing and pay

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Speaker 3: it forward.

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Speaker 2: Yeah, I love that. Oh, I don't know how we've

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Speaker 2: missed this Guy's turns out I might be living under

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Speaker 2: a rock, George, what else have we got? Maybe this

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Speaker 2: one will resonate.

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Speaker 1: So our next win is from Isabella at the end

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Speaker 1: of last year herself that she would get on top

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Speaker 1: of her budget. Yes, she opened an account with up

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Speaker 1: and has her money going into all the little savings

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Speaker 1: accounts she's created for herself, so she knows where every

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Speaker 1: dollar is going now. The money win though, is that

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Speaker 1: she had an unexpected bill that she didn't factor into

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Speaker 1: her budget, but she was able to take it from

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Speaker 1: her emergency fund and not stress about it. So she's like,

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Speaker 1: I was really an emergency, but it was nice not

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Speaker 1: to stress.

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Speaker 2: No, that is an emergency, Like, that's absolutely what your

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Speaker 2: emergency fund is for. It's for things that just pop

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Speaker 2: up that you could potentially go into debt for. I mean, yes,

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Speaker 2: there's obviously actual emergencies like oh my gosh, I've totaled

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Speaker 2: my car and I need to pay the excess, or

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Speaker 2: you know, for me when my dog ate chocolate and

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Speaker 2: I needed to take her to the emergency vet. Like,

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Speaker 2: that was a very big bill, but it came out

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Speaker 2: of my emergency fund. But if you've got a bill

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Speaker 2: that's just popped up out of nowhere, don't need to

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Speaker 2: have to pay it, don't need to put it on

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Speaker 2: a credit card, don't need to borrow fifty bucks from

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Speaker 2: your housemate because you've got your own back. How good

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Speaker 2: is that?

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Speaker 1: It's very good. I knew you'd like that one VD. Yeah,

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Speaker 1: this one I chose because I know you will both approve.

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Speaker 1: So it's from m Her local Bunnings finally got the

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Speaker 1: new range of rare indoor plants in she went to sea.

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Speaker 2: They get rare indoor plants. Yes, we need to.

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Speaker 3: Look this up, girlies. They don't sell them on the

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Speaker 3: West side.

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Speaker 2: That's I've never seen rare indoor plants at Bunnings. Like

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Speaker 2: you got your standard monsterra. You could probably get some

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Speaker 2: Devil's ivy and be sure as hell, can get a

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Speaker 2: lot of different types of lavender, but you cannot get

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Speaker 2: a Thai Constellation monsterra or an elbow Like. People are

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Speaker 2: going to be like, what is she talking about?

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Speaker 3: Literally, if you.

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Speaker 2: Know, you know, if you know you know, hold on,

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Speaker 2: tell us more, George.

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Speaker 1: Okay, So she says that she went absolutely overboard and

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Speaker 1: had seven in her basket, but she can't dare to

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Speaker 1: leave any of them behind because they're already her little

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Speaker 1: plant babies, so she took them all to the counter.

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Speaker 1: The woman at the register undercharged her, but she didn't

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Speaker 1: realize until she got home. So that's that's the winning health.

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Speaker 1: Except she didn't. She's an angel. What does she do?

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Speaker 1: She picks up the blower also known as the phone,

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Speaker 1: calls the store, says, Hi, guys, so sorry, you undercharge me.

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Speaker 1: I've got all a plant, a houseful of plants for

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Speaker 1: a hot deal. Like I'll come in and I'll give

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Speaker 1: them back. They thanked her for her honesty and told

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Speaker 1: her to keep them.

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Speaker 3: Fifty dollars.

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Speaker 2: Wow here I am being like sure, and she's like, no,

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Speaker 2: I wanted to give them back.

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Speaker 1: Actually, hang on, there's there's one more line here I missed.

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Speaker 2: Okay, sorry, sorry what is it?

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Speaker 1: She's now going to propagate the cuttings from these plants

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Speaker 1: and sell them as a mini side Hussley.

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Speaker 2: You are you've you've peaked. That is that she's on

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Speaker 2: the money poster girl right there? You are our people.

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Speaker 2: You like plants, you like money wins, you like propagating plants.

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Speaker 2: Do a little sneapy snip. It's not deally, it's what

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Speaker 2: Jess is it. It's liberating exactly right.

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Speaker 3: It's liberating esecially when you already own it. So oh

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Speaker 3: my gosh, I love that that it turned out so

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Speaker 3: well for her. She did the right thing, and like

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Speaker 3: the good karma just came immediately right back around.

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Speaker 1: We love to see it. That's my last one for

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Speaker 1: the day.

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Speaker 2: No, I love that. That was a really good one

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Speaker 2: to finish it on. I feel like people who pick

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Speaker 2: up the phone and are like, hey, you undercharge me,

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Speaker 2: they have like no need to do that because it's

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Speaker 2: not technically theft and no one's going to come and

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Speaker 2: get you. But like they're the type of people I

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Speaker 2: want to know, Like they are the wholesome people that

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Speaker 2: are in our community. And I just feel so special

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Speaker 2: that she shared that with us. But imagine her being

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Speaker 2: your friends. You're like at breakfast, she's like, oh my god,

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Speaker 2: yar and I called Bunnings and I wanted to give

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Speaker 2: them back, like I'd be like, I love you, you're

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Speaker 2: my people.

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Speaker 1: M's an angel.

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Speaker 2: Yeah, I know em is an angel. But before I

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Speaker 2: get too into it, let's go to a quick break

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Speaker 2: and then George Jess, we have spicy content to share

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Speaker 2: that I didn't realize was spicy after maybe one too

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Speaker 2: many glasses of wine on a Sunday night. Don't go anywhere,

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Speaker 2: all right, George. So first things first, we probably need

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Speaker 2: to tell Jess what we did last week. We kind

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Speaker 2: of just railroaded this segment, which is usually like a

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Speaker 2: show and tell kind of segment where we talk about

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Speaker 2: something that's happening in the media, or we might have

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Speaker 2: a few listener questions and like it's a bit flexible.

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Speaker 2: But Jeeki and I we went rogue. We started book

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Speaker 2: club last week and whilst we're not doing book club

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Speaker 2: this week, we probably thought we should get your approval.

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Speaker 2: I think the community likes it though. If you heard

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Speaker 2: of book club already, Jess.

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Speaker 3: A few people have mentioned it, yes, and it seems

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Speaker 3: to be in on the thing. So what are we thinking,

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Speaker 3: Like maybe a monthly segment where gives people time to

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Speaker 3: read the book if they want to read along.

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Speaker 2: Oh no, this fake girl. You clearly did listen to

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Speaker 2: the podcast. This is fake book club where you don't

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Speaker 2: even have to read the book. I will read the book.

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Speaker 2: I would tell you the key points that you needed

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Speaker 2: to take away from that book, and then you pretend

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Speaker 2: you read the book. That's our book club.

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Speaker 3: Books sounds like the kind of book club I want

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Speaker 3: to be a part of.

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Speaker 2: You are actually an honorary member, and you will be

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Speaker 2: privy to every book club meeting that we actually hold.

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Speaker 2: Will they be scheduled? No? Will they be absolutely random

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Speaker 2: and you'll never foresee them coming. Yes. So whenever I

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Speaker 2: finish a finance book or reread one, I'm gonna pop

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Speaker 2: on the show and let you guys know what's up.

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Speaker 2: If you have any requests, though, please lid into our dms,

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Speaker 2: because a lot of finance books are really dry. They

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Speaker 2: are dry, or they are boring. But I think it's

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Speaker 2: really exciting that we are now going to start talking

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Speaker 2: about them and what they actually mean. Because so many

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Speaker 2: times in our community, and Jess and George, you would

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Speaker 2: hear this a lot, people like, oh my gosh, which

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Speaker 2: books should I read? And you hear the standards. You

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Speaker 2: obviously hear richest man in Babylon. You hear rich dad,

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Speaker 2: poor dad. You would hear the barefoot investor. Hopefully people

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Speaker 2: are recommending she's on the money. But you kind of go,

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Speaker 2: why would I pick up these books if you've never

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Speaker 2: picked them up before? What's rich dad? Poor dad? Do

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Speaker 2: you know what I mean like, at least I can

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Speaker 2: tell you the premise of the book and you might go,

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Speaker 2: do you know what? That sounds exactly like something I

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Speaker 2: would want to read, or oh, I don't want to

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Speaker 2: read about behavioral finance. That's way too technical for me

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Speaker 2: to start on. So hopefully it means you don't have

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Speaker 2: to read the book and you get all the tips

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Speaker 2: and tricks from them from us just telling you about

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Speaker 2: the new book club. But if not, I think it's

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Speaker 2: a good intro to you potentially reading your own finance books. Fine,

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Speaker 2: but George, this week, what are we doing?

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Speaker 1: Okay, so let's talk about a little article that I

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Speaker 1: found before the show VD when I was doing my

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Speaker 1: my pre pod planning, trying to find some saucy news

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Speaker 1: for us all. After we do that, though, we will

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Speaker 1: also be listening to a money question all about what

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Speaker 1: the devil is happening in the stock market right now

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Speaker 1: because a lot of us have noticed that spaceship, in particular,

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Speaker 1: because we all have spaceship, a lot of.

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Speaker 2: Us do have sped down it returns.

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Speaker 1: Yes, So we're going to talk about what's going on

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Speaker 1: there and if we should be worried spoiler, don't be

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Speaker 1: worried exactly right before we do get their gals talk

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Speaker 1: us through this Daily Mail article about holes.

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Speaker 2: BASSI, well, would you like to know how it came

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Speaker 2: to fruition? Because I didn't even know it was going

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Speaker 2: to come to fruition. So the other night I was

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Speaker 2: on TikTok and I saw this trend with this particular sound.

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Speaker 2: And if you're not on TikTok and you've seen my video,

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Speaker 2: the music that I'm singing to makes no sense, you'd

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Speaker 2: be like, why did she pick that song and that

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Speaker 2: text over the top of it. But essentially the video

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Speaker 2: and the text I have chosen is all about equity,

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Speaker 2: not equality in relationships. And I've said it on the

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Speaker 2: pod before, and if you've listened to every single one,

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Speaker 2: you would know that I am a firm believer in

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Speaker 2: splitting expenses like rent with your romantic partner. We're not

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Speaker 2: talking housemates here, with your romantic partner based on how

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Speaker 2: much you earn, not just splitting it down the line

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Speaker 2: in terms of fifty to fifty. So George, if you

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Speaker 2: earn one hundred and fifty thousand dollars a year and

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Speaker 2: I was on sixty thousand dollars a year, I personally

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Speaker 2: do not think it is fair that we would just

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Speaker 2: lit rent right down the middle, because it doesn't make

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Speaker 2: sense in terms of equity in a relationship. And when

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Speaker 2: I talk about equity, I'm talking about giving people the

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Speaker 2: exact same tools and resources and opportunities to put themselves

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Speaker 2: in the same position. We're not talking about like, oh,

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Speaker 2: well it's fair, you pay half, I pay half. Yes,

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Speaker 2: in a housemate situation, that would be it. Because George,

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Speaker 2: if you and I live together, which that'd be a blast.

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Speaker 2: I mean, you lived with my sister.

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Speaker 1: It was a good time.

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Speaker 2: I'm like the tidy version, maybe a little bit more boring,

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Speaker 2: so you will probably have less fights. So if you're

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Speaker 2: ever looking for housemate, hit me up. But my financial

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Speaker 2: situation as your housemate is not your business, like and

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Speaker 2: vice versa. Whatever you earn, you've agreed to pay your

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Speaker 2: room's rent right or the house's rent. But if we're

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Speaker 2: in a romantic relationship, I genuinely think that that changes,

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Speaker 2: and that is something that we're meant to be working

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Speaker 2: towards shared goals and shared visions. And the I posted

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Speaker 2: this video and one thing led to another, and I

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Speaker 2: had a cheeky glass of red wine on the couch

404
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Speaker 2: and got very heated in my comments back to people

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Speaker 2: made the Daily Mail.

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Speaker 1: I have a couple of questions VEDI. Firstly, what's it

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Speaker 1: like to be featured in the Daily Mail?

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Speaker 2: Oh, it's actually really scary. It was a really nice article,

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Speaker 2: like it was gorgeous. Whoever wrote that, thank you. Really

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Speaker 2: appreciate the exposure for She's on the money. But sometimes

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Speaker 2: you see it pop up as a notification in your

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Speaker 2: email and you're like, oh, what do I done? This

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Speaker 2: is scary, Like this is not googe, Like, no, not

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Speaker 2: my vibe. But I do think it's a really topical

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Speaker 2: conversation to be had because I'm a genuine believer in

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Speaker 2: equity and relationships. But I was super surprised at some

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Speaker 2: of the comments guys.

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Speaker 1: Like I was, with the types of comments.

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Speaker 2: Oh look, some of them were gorgeous. Some of them

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Speaker 2: were like, oh my gosh, I wish I'd known about

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Speaker 2: this earlier. Some of them were like, yes, I'm so

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Speaker 2: for this. I've been doing this for years. One of

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Speaker 2: them said, hey, Victoria, I just this video to my

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Speaker 2: partner and he said, why aren't we already doing this?

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Speaker 2: And I just think it's so awesome that we're having

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Speaker 2: these money conversations and were viewing things in a way

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Speaker 2: that gives us a lot of power, especially you know,

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Speaker 2: we're not all women, but most women and most minority

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Speaker 2: groups are already disadvantaged, so we're the ones that need

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Speaker 2: the most empowerment to have these conversations. But on the

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Speaker 2: flip side of me being like, oh my gosh, I'm

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Speaker 2: so glad this content's resonating, there's always those few people

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Speaker 2: that message you and say, oh my gosh, I work

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Speaker 2: so hard and I shouldn't have to share my hard

435
00:20:32,800 --> 00:20:35,520
Speaker 2: work with somebody else who doesn't work as hard. And

436
00:20:35,600 --> 00:20:38,720
Speaker 2: I just was really shocked that people genuinely believe that

437
00:20:38,880 --> 00:20:43,200
Speaker 2: in twenty twenty two, that potentially because you earn less money,

438
00:20:43,200 --> 00:20:46,840
Speaker 2: you're working less hard and that is absolutely not the case.

439
00:20:47,520 --> 00:20:49,760
Speaker 2: And I was just a bit like, man, your red

440
00:20:49,760 --> 00:20:52,200
Speaker 2: flags showing, ooh, do you want to put that away?

441
00:20:52,560 --> 00:20:54,639
Speaker 2: I don't know, it just felt wild.

442
00:20:54,640 --> 00:20:56,880
Speaker 1: You're also in a partnership, so it's like, why are

443
00:20:56,920 --> 00:21:00,720
Speaker 1: you acting as an individual? And I know everyone money

444
00:21:00,720 --> 00:21:04,280
Speaker 1: differently and some do do it independently, but surely you'll

445
00:21:04,320 --> 00:21:06,639
Speaker 1: have shared goals down the line that you're both working

446
00:21:06,640 --> 00:21:09,199
Speaker 1: towards So wouldn't you want your partner, if they are

447
00:21:09,280 --> 00:21:13,000
Speaker 1: earning less kind of to be in a better financial position.

448
00:21:13,040 --> 00:21:14,760
Speaker 1: It's kind of a strange logic.

449
00:21:15,000 --> 00:21:18,359
Speaker 2: Yeah, it's a very strange logic. And I've got a

450
00:21:18,400 --> 00:21:21,000
Speaker 2: couple of messages and we will actually do a podcast

451
00:21:21,080 --> 00:21:22,760
Speaker 2: on this, and Jess and George, you're in for it

452
00:21:22,800 --> 00:21:24,240
Speaker 2: because I want to do a little bit of role

453
00:21:24,240 --> 00:21:28,040
Speaker 2: playing in that episode. Will It sounds really lame, but

454
00:21:28,240 --> 00:21:31,280
Speaker 2: I want you guys to throw questions at me saying well,

455
00:21:31,520 --> 00:21:34,240
Speaker 2: I don't think that's fair, and then me respond and

456
00:21:34,320 --> 00:21:37,560
Speaker 2: help empower you with those conversations, because that seems to

457
00:21:37,600 --> 00:21:40,000
Speaker 2: be the number one question that said, well how do

458
00:21:40,040 --> 00:21:42,520
Speaker 2: I bring this up in a relationship? Or my boyfriend

459
00:21:42,520 --> 00:21:44,840
Speaker 2: thinks it's not fair and that he works really hard

460
00:21:44,880 --> 00:21:47,320
Speaker 2: for his really high income and that I didn't go

461
00:21:47,359 --> 00:21:49,359
Speaker 2: to UNI and therefore I don't deserve it, and that's

462
00:21:49,400 --> 00:21:52,560
Speaker 2: not it. Like, equity comes in so many different shapes

463
00:21:52,600 --> 00:21:55,160
Speaker 2: in a relationship, but it's not just financial. It could

464
00:21:55,160 --> 00:21:57,920
Speaker 2: be tasks you're doing around the house, like domestic work.

465
00:21:58,000 --> 00:22:01,840
Speaker 2: It could be childcare, it could be pet care, it

466
00:22:01,880 --> 00:22:04,480
Speaker 2: could be literally looking after your partner and making them

467
00:22:04,560 --> 00:22:06,800
Speaker 2: lunch if that's something you do. I'm not saying that

468
00:22:06,880 --> 00:22:09,679
Speaker 2: every relationship is equal, but you do need to have

469
00:22:09,720 --> 00:22:13,760
Speaker 2: a genuine conversation about what equity in a relationship looks like,

470
00:22:14,280 --> 00:22:17,760
Speaker 2: because it's different for everybody. And it just seems so

471
00:22:17,960 --> 00:22:20,600
Speaker 2: wild to me that, you know, if you're a high

472
00:22:20,600 --> 00:22:25,040
Speaker 2: income earner, you would want your partner to be financially disadvantaged.

473
00:22:25,560 --> 00:22:27,800
Speaker 2: And one of the messages I got, and I'm sure

474
00:22:27,840 --> 00:22:30,280
Speaker 2: that there are other people that resonate with this, was

475
00:22:30,400 --> 00:22:32,960
Speaker 2: from someone who said, this is really funny because I

476
00:22:33,080 --> 00:22:35,960
Speaker 2: used to be the low income earner in my relationship

477
00:22:36,000 --> 00:22:38,720
Speaker 2: by a lot, but I was the one who insisted

478
00:22:38,720 --> 00:22:42,600
Speaker 2: on splitting everything fifty to fifty, even though their partner

479
00:22:42,760 --> 00:22:45,760
Speaker 2: always said, oh, no, I'll pay more, It's okay. But

480
00:22:45,840 --> 00:22:49,800
Speaker 2: this person was raised to be quote independent and never

481
00:22:49,840 --> 00:22:52,640
Speaker 2: to ask for a man's money. So, and she said

482
00:22:52,680 --> 00:22:56,040
Speaker 2: in quotation marks for her own pride, she never accepted

483
00:22:56,080 --> 00:22:58,560
Speaker 2: what he offered or that he wanted to pay more,

484
00:22:58,720 --> 00:23:02,800
Speaker 2: even though he truly earned triple what she was earning

485
00:23:03,160 --> 00:23:05,840
Speaker 2: seven years into the relationship, and she still has a

486
00:23:05,840 --> 00:23:08,880
Speaker 2: really hard time not feeling guilty when he pays for something.

487
00:23:09,119 --> 00:23:11,479
Speaker 2: But then also harbors a lot of guilt when he

488
00:23:11,560 --> 00:23:14,880
Speaker 2: suggests going on a holiday or something that she genuinely

489
00:23:14,880 --> 00:23:17,399
Speaker 2: can't afford because she's trying really hard to pay fifty

490
00:23:17,400 --> 00:23:20,040
Speaker 2: to fifty. And I think that the biggest thing for

491
00:23:20,080 --> 00:23:23,080
Speaker 2: me that came out of this is your independence is

492
00:23:23,280 --> 00:23:28,040
Speaker 2: not changed or quashed or nonexistent, because you want equity,

493
00:23:28,280 --> 00:23:31,480
Speaker 2: because you want to be given the same opportunity as

494
00:23:31,520 --> 00:23:35,600
Speaker 2: your partner to save, to invest, to put money aside

495
00:23:35,640 --> 00:23:37,679
Speaker 2: so that you can go on a holiday, to go

496
00:23:37,760 --> 00:23:40,920
Speaker 2: out for a coffee. And it just blows my mind

497
00:23:41,359 --> 00:23:44,360
Speaker 2: that in twenty twenty two, we are actually still thinking

498
00:23:44,400 --> 00:23:46,119
Speaker 2: that way. And I just want to say here and

499
00:23:46,200 --> 00:23:48,800
Speaker 2: now before this podcast episode comes out, because it's going

500
00:23:48,840 --> 00:23:50,480
Speaker 2: to be a few weeks off, because I really want

501
00:23:50,520 --> 00:23:52,520
Speaker 2: to nail it, and I really want to put down

502
00:23:52,880 --> 00:23:55,720
Speaker 2: all of my thoughts into one like little document, have

503
00:23:55,760 --> 00:23:57,320
Speaker 2: a chat with George, have a chat with Jess, have

504
00:23:57,320 --> 00:23:59,640
Speaker 2: a chat with the community about what they want from this.

505
00:24:00,240 --> 00:24:03,119
Speaker 2: But I think it's really important to understand equity in

506
00:24:03,160 --> 00:24:07,320
Speaker 2: a relationship and the fact that equity recognizes that every

507
00:24:07,359 --> 00:24:11,479
Speaker 2: single person has different circumstances, and then it allocates the

508
00:24:11,520 --> 00:24:16,120
Speaker 2: resources that those people have in line with what they

509
00:24:16,240 --> 00:24:20,120
Speaker 2: need to achieve a desired outcome. It's not about saying yes,

510
00:24:20,240 --> 00:24:23,600
Speaker 2: we need to pay fifty to fifty. It's about saying, yes,

511
00:24:23,960 --> 00:24:27,720
Speaker 2: we both need equal opportunity. And from my perspective, I

512
00:24:27,760 --> 00:24:29,639
Speaker 2: know I'm getting a bit ranty about this. I'm just

513
00:24:29,720 --> 00:24:32,640
Speaker 2: genuinely so passionate about it. It just doesn't feel fair

514
00:24:32,680 --> 00:24:35,560
Speaker 2: that if somebody's earning less money, they end up in

515
00:24:35,560 --> 00:24:38,280
Speaker 2: a situation where they can't say, or they can't invest,

516
00:24:38,400 --> 00:24:40,679
Speaker 2: or they can't feel empowered. Like it just makes no

517
00:24:40,760 --> 00:24:43,359
Speaker 2: sense to me. What do you guys think. I not

518
00:24:43,680 --> 00:24:48,520
Speaker 2: to be controversial, but I'll be controversial.

519
00:24:49,280 --> 00:24:52,239
Speaker 3: I just think it's probably worth highlighting here. And I

520
00:24:52,280 --> 00:24:54,320
Speaker 3: know that this is what you're getting at. But it's

521
00:24:54,359 --> 00:24:57,040
Speaker 3: not as simple, I think as saying, oh, if you

522
00:24:57,080 --> 00:24:59,760
Speaker 3: don't want to split things equitably, you don't want your

523
00:24:59,760 --> 00:25:01,960
Speaker 3: past to succeed, Because.

524
00:25:01,920 --> 00:25:04,720
Speaker 2: No, absolutely not. And I hope I'm not coming across

525
00:25:04,760 --> 00:25:06,080
Speaker 2: like that. Oh my gosh, if I.

526
00:25:06,000 --> 00:25:08,960
Speaker 3: Am, pull my head in because yeah, it's definitely really complicated.

527
00:25:09,000 --> 00:25:12,399
Speaker 3: There's a lot of factors, you know, based on personal circumstance.

528
00:25:12,440 --> 00:25:15,480
Speaker 3: A friend of mine, she works full time, she did

529
00:25:15,520 --> 00:25:19,000
Speaker 3: two degrees. She's a doctor, and her partner has a

530
00:25:19,040 --> 00:25:21,919
Speaker 3: more creative job, and part of his job something that

531
00:25:21,960 --> 00:25:23,800
Speaker 3: he loves is the freedom that it gives him to

532
00:25:23,880 --> 00:25:26,840
Speaker 3: work part times. So he has chosen to live at

533
00:25:26,840 --> 00:25:31,120
Speaker 3: a greater level of work life balance for a lower income. So,

534
00:25:31,160 --> 00:25:33,679
Speaker 3: for example, in that situation, if I was her and

535
00:25:33,760 --> 00:25:36,720
Speaker 3: my partner turned around and said, hey, you know, based

536
00:25:36,760 --> 00:25:38,720
Speaker 3: on the choices that you've made, you're earning a lot

537
00:25:38,720 --> 00:25:41,880
Speaker 3: more than me. I want you to pay more than

538
00:25:41,920 --> 00:25:45,560
Speaker 3: I am. And so it really is so dependent on

539
00:25:45,600 --> 00:25:49,440
Speaker 3: your situation. I think as well. The things in my relationship,

540
00:25:49,440 --> 00:25:52,359
Speaker 3: it's flipped. I'm the higher income earner. My partner is

541
00:25:52,400 --> 00:25:58,480
Speaker 3: still studying love that this year he's literally on placement

542
00:25:58,600 --> 00:26:02,480
Speaker 3: all yeah, so he's earning potential, not super swish. And

543
00:26:02,560 --> 00:26:06,600
Speaker 3: for us, we split rent equitably because when we were

544
00:26:06,600 --> 00:26:09,040
Speaker 3: looking there were things that were a priority to me

545
00:26:09,280 --> 00:26:12,240
Speaker 3: that weren't important to him that would increase the cost

546
00:26:12,280 --> 00:26:15,040
Speaker 3: of living. So I wanted a modern house, I wanted

547
00:26:15,080 --> 00:26:18,040
Speaker 3: new appliances, whereas he would happily live in a house

548
00:26:18,040 --> 00:26:20,000
Speaker 3: from the nineteen forties and not think twice about So.

549
00:26:20,000 --> 00:26:23,080
Speaker 2: With Steve, like, I don't know how but they're cool

550
00:26:23,080 --> 00:26:23,359
Speaker 2: with it.

551
00:26:23,560 --> 00:26:25,720
Speaker 3: Yeah, they don't need a lot and that's great. And

552
00:26:25,760 --> 00:26:27,199
Speaker 3: I was like, okay, well, I can see in this

553
00:26:27,240 --> 00:26:29,719
Speaker 3: situation my choices are going to cost you more, and

554
00:26:29,760 --> 00:26:33,240
Speaker 3: therefore I feel like it's my responsibility to cover the difference.

555
00:26:33,520 --> 00:26:36,439
Speaker 3: But for things like bills and groceries, we split them

556
00:26:36,480 --> 00:26:39,720
Speaker 3: equally because we're consuming them equally, and so I think,

557
00:26:39,800 --> 00:26:42,600
Speaker 3: like it's it is a very complex situation. I think

558
00:26:42,600 --> 00:26:46,000
Speaker 3: it's so important to be comfortable having those conversations. And

559
00:26:46,080 --> 00:26:48,760
Speaker 3: it is again, as like the higher income owner, like,

560
00:26:48,920 --> 00:26:51,440
Speaker 3: it is a conversation that we have regularly, and I say, hey,

561
00:26:51,640 --> 00:26:53,919
Speaker 3: like how are you feeling about things like how are

562
00:26:54,000 --> 00:26:56,880
Speaker 3: you doing financially? And we're probably a little more comfortable

563
00:26:56,960 --> 00:26:59,480
Speaker 3: having those conversations because of the work that I do.

564
00:27:00,119 --> 00:27:03,119
Speaker 3: But yeah, there's no one size fits all. Hey, it's

565
00:27:03,200 --> 00:27:07,040
Speaker 3: quite hard, but it is definitely something that's worth understanding because,

566
00:27:07,080 --> 00:27:09,320
Speaker 3: like that girl said, she didn't even know that it

567
00:27:09,400 --> 00:27:11,480
Speaker 3: was an option that she could put on a table

568
00:27:11,520 --> 00:27:12,240
Speaker 3: for discussion.

569
00:27:12,680 --> 00:27:15,560
Speaker 2: Absolutely, and I think you've brought up a really really

570
00:27:15,680 --> 00:27:20,600
Speaker 2: valid point here as well. Equity is not necessarily just money,

571
00:27:20,920 --> 00:27:22,919
Speaker 2: as I said before, it could be other things. And

572
00:27:22,960 --> 00:27:26,520
Speaker 2: if you've got this friend whose partner is prioritizing their

573
00:27:26,560 --> 00:27:29,520
Speaker 2: work life balance, well that's part of their equity and

574
00:27:29,560 --> 00:27:31,960
Speaker 2: the thing that they're getting out of that relationship. That

575
00:27:32,000 --> 00:27:35,760
Speaker 2: doesn't necessarily mean that they get the cushy amount of

576
00:27:35,760 --> 00:27:38,600
Speaker 2: rent because they're earning less income to have a better life.

577
00:27:38,640 --> 00:27:40,240
Speaker 2: I think we really need to see this as an

578
00:27:40,280 --> 00:27:43,879
Speaker 2: ongoing and consistently moving conversation that is very different for

579
00:27:43,960 --> 00:27:47,320
Speaker 2: every single couple. And I think that that's where I'm like,

580
00:27:47,520 --> 00:27:49,719
Speaker 2: Od's made it to the Daily Mail. It makes me

581
00:27:49,760 --> 00:27:52,000
Speaker 2: look so black and white, and that I do believe

582
00:27:52,000 --> 00:27:54,520
Speaker 2: that there's only one way of doing this, whereas you

583
00:27:54,560 --> 00:27:56,919
Speaker 2: guys would know that that's not how she's on the

584
00:27:56,920 --> 00:27:59,560
Speaker 2: money exists, that's not what that means, and that's not

585
00:27:59,600 --> 00:28:02,960
Speaker 2: how this works. Because you could do that percentage thing

586
00:28:03,000 --> 00:28:04,560
Speaker 2: and work it out and be like, all right, Jess,

587
00:28:04,560 --> 00:28:06,280
Speaker 2: like you get to pay forty percent of rent and

588
00:28:06,600 --> 00:28:09,680
Speaker 2: James gets to pay sixty percent of rent. That's the

589
00:28:09,720 --> 00:28:12,720
Speaker 2: start point of the conversation. It's not the end point.

590
00:28:12,760 --> 00:28:15,600
Speaker 2: It's not the outcome. It's the hey, is this fair?

591
00:28:15,600 --> 00:28:18,000
Speaker 2: And you might go no, like that makes no sense

592
00:28:18,080 --> 00:28:21,320
Speaker 2: for us, because I do abcdn e and he does this,

593
00:28:21,440 --> 00:28:23,680
Speaker 2: and maybe one of you own the property, and that's

594
00:28:23,720 --> 00:28:26,680
Speaker 2: a different conversation again, so I think it is very

595
00:28:26,720 --> 00:28:29,800
Speaker 2: different for different couples. But I really want to introduce

596
00:28:29,840 --> 00:28:34,040
Speaker 2: the concept of what I would call domestic socialism and say,

597
00:28:34,160 --> 00:28:36,680
Speaker 2: all right, what does that actually look like for us?

598
00:28:36,760 --> 00:28:40,720
Speaker 2: What is fair? What is equitable? Not necessarily what is equal,

599
00:28:40,960 --> 00:28:44,000
Speaker 2: because a relationship is always about compromise, and it's about

600
00:28:44,080 --> 00:28:46,360
Speaker 2: putting the other person first and you being able to

601
00:28:46,400 --> 00:28:50,760
Speaker 2: be put first, and working together towards common goals. And

602
00:28:51,000 --> 00:28:54,280
Speaker 2: just because someone's paying less rent doesn't mean that they're freeloading.

603
00:28:54,560 --> 00:28:56,680
Speaker 2: I mean, if that's the case, there's probably a few

604
00:28:56,760 --> 00:28:59,520
Speaker 2: red flags and we need to reevaluate our relationships. But

605
00:29:00,680 --> 00:29:03,000
Speaker 2: you're right, Jess, I think we should be looking at

606
00:29:03,000 --> 00:29:05,320
Speaker 2: this as the start point of a conversation, not the

607
00:29:05,520 --> 00:29:08,920
Speaker 2: actual outcome, because there's so many more factors that play

608
00:29:08,960 --> 00:29:12,280
Speaker 2: into it. But let's just have more money conversations more

609
00:29:12,320 --> 00:29:14,760
Speaker 2: often with our partners. And if this is a really

610
00:29:14,800 --> 00:29:17,800
Speaker 2: good trigger for you, go for it, like, use that

611
00:29:17,920 --> 00:29:20,480
Speaker 2: as something that is going to empower you. But I

612
00:29:20,520 --> 00:29:22,680
Speaker 2: think that the one thing that I do want to

613
00:29:22,800 --> 00:29:26,320
Speaker 2: change is that mindset that just because you might be

614
00:29:26,360 --> 00:29:28,680
Speaker 2: paying less doesn't make you any less independent.

615
00:29:28,760 --> 00:29:32,200
Speaker 1: Good chat, girls, that was interesting. Loved your points, Chess.

616
00:29:32,400 --> 00:29:35,000
Speaker 1: All right, so now let's take a listen to today's

617
00:29:35,160 --> 00:29:35,840
Speaker 1: money question.

618
00:29:36,120 --> 00:29:39,760
Speaker 4: My girls. My question is what is happening with this

619
00:29:39,960 --> 00:29:46,640
Speaker 4: talk market lately? Things are going really really bad. It's

620
00:29:46,720 --> 00:29:52,200
Speaker 4: scary to look at our spaceship raise and older. There'sment accounts,

621
00:29:52,560 --> 00:29:58,480
Speaker 4: including cryptop everything's just going sand Libad was wondering, Victoria,

622
00:29:58,520 --> 00:30:00,920
Speaker 4: could you explain to us what is going on? I'm

623
00:30:00,960 --> 00:30:03,640
Speaker 4: guessing that the new Corvid waves has something to do

624
00:30:03,800 --> 00:30:06,360
Speaker 4: with it, but maybe I who could help us to

625
00:30:06,440 --> 00:30:10,720
Speaker 4: understand the situation? Then? What should we do to ride

626
00:30:10,720 --> 00:30:14,560
Speaker 4: this wave and go through the current situation? What would

627
00:30:14,600 --> 00:30:17,239
Speaker 4: be your general advice to help us to deal with

628
00:30:17,280 --> 00:30:19,600
Speaker 4: this right now? Thank you so much, love to show.

629
00:30:19,920 --> 00:30:22,440
Speaker 1: Okay, so this is a question that I have my

630
00:30:22,560 --> 00:30:26,680
Speaker 1: selfie because I've noticed with my own spaceship account it's

631
00:30:26,800 --> 00:30:30,360
Speaker 1: currently down three point twenty nine percent, and I have

632
00:30:30,440 --> 00:30:33,080
Speaker 1: the same questions like what is happening? Should I be stressed?

633
00:30:33,160 --> 00:30:34,160
Speaker 3: What are we doing?

634
00:30:34,280 --> 00:30:34,400
Speaker 4: Like?

635
00:30:34,480 --> 00:30:35,480
Speaker 2: What's the goal?

636
00:30:35,720 --> 00:30:38,680
Speaker 3: It's not even just spaceship either, My spaceship is the same.

637
00:30:38,680 --> 00:30:40,880
Speaker 3: But even a lot of my independent stocks that I

638
00:30:40,920 --> 00:30:42,680
Speaker 3: hold are seeing a bit of red right now.

639
00:30:43,080 --> 00:30:45,480
Speaker 2: Check that out. That is not something Jessica Bride she

640
00:30:45,520 --> 00:30:49,440
Speaker 2: would have said twelve months ago her independent share portfolio, what.

641
00:30:50,120 --> 00:30:52,240
Speaker 3: Look at me? Go No? But I'm sure there are

642
00:30:52,240 --> 00:30:54,160
Speaker 3: a lot of people out there saying, oh my god,

643
00:30:54,200 --> 00:30:55,280
Speaker 3: is it? Do I need to sell?

644
00:30:55,440 --> 00:30:55,560
Speaker 1: Like?

645
00:30:55,720 --> 00:30:58,440
Speaker 2: What do we do? No? No, we don't sell when

646
00:30:58,440 --> 00:31:02,200
Speaker 2: the market is down. Need to remember that you lose

647
00:31:02,320 --> 00:31:06,360
Speaker 2: money only when you crystallize that loss. And that's a

648
00:31:06,480 --> 00:31:10,520
Speaker 2: very technical way of saying, you only lose money when

649
00:31:10,560 --> 00:31:13,920
Speaker 2: you accept the amount of money that your share portfolio

650
00:31:14,000 --> 00:31:17,280
Speaker 2: is worth right now, quite literally, you need to start

651
00:31:17,320 --> 00:31:20,480
Speaker 2: thinking about a quote loss in the share market like

652
00:31:20,560 --> 00:31:23,840
Speaker 2: you do about a property, like see it as property.

653
00:31:24,000 --> 00:31:26,880
Speaker 2: If your property drops in value, you didn't lose any

654
00:31:26,920 --> 00:31:30,720
Speaker 2: money because you didn't sell the property. Does that make sense?

655
00:31:30,880 --> 00:31:33,960
Speaker 2: Unless you sell the property or you sell the share,

656
00:31:34,320 --> 00:31:36,680
Speaker 2: that's when you lose money. So, George and jess if

657
00:31:36,680 --> 00:31:40,120
Speaker 2: you're looking at your spaceship portfolios and thereof you haven't

658
00:31:40,160 --> 00:31:43,920
Speaker 2: lost anything. It's just currently valued it less. And what

659
00:31:43,960 --> 00:31:46,480
Speaker 2: that value is telling you is that if you decided

660
00:31:46,520 --> 00:31:48,560
Speaker 2: to put all your money out today. That's how much

661
00:31:48,560 --> 00:31:51,560
Speaker 2: money and how much of a loss you would be accepting. However,

662
00:31:52,040 --> 00:31:54,120
Speaker 2: you're in the positions I know you're in the position,

663
00:31:54,280 --> 00:31:56,760
Speaker 2: so I can talk to this quite easily. You're in

664
00:31:56,800 --> 00:31:58,640
Speaker 2: the positions where you don't need that money right now

665
00:31:58,640 --> 00:32:01,760
Speaker 2: from spaceship, so you have the benefit of time on

666
00:32:01,800 --> 00:32:04,600
Speaker 2: your side to ride that wave out. Because we know

667
00:32:04,800 --> 00:32:07,320
Speaker 2: that the share market has ebbs and it has flows,

668
00:32:07,360 --> 00:32:10,600
Speaker 2: and it goes up and down over time. However, the

669
00:32:10,720 --> 00:32:14,600
Speaker 2: longer you're in the share market, the more likely you

670
00:32:14,680 --> 00:32:17,120
Speaker 2: are going to have a positive return. Like we know

671
00:32:17,480 --> 00:32:20,840
Speaker 2: here in Australia that nobody, if they've invested in the

672
00:32:20,880 --> 00:32:24,640
Speaker 2: Australian share market over a thirty year period, has ever

673
00:32:24,720 --> 00:32:27,880
Speaker 2: lost money if they're buying the ASX top one hundred

674
00:32:28,000 --> 00:32:31,160
Speaker 2: type shares. We're not talking about you know, I don't

675
00:32:31,160 --> 00:32:33,200
Speaker 2: know what Jess is purchased, but like if you've gone

676
00:32:33,320 --> 00:32:36,160
Speaker 2: rogue or Jess, I feel like you've potentially purchased shares

677
00:32:36,320 --> 00:32:37,880
Speaker 2: because I'll be in the office being like, oh, I've

678
00:32:37,920 --> 00:32:40,719
Speaker 2: bought this one. This seems really interesting. Is that how

679
00:32:40,720 --> 00:32:43,440
Speaker 2: we've picked our shares, Jessicarici, not just.

680
00:32:43,440 --> 00:32:45,920
Speaker 3: Based off but it's a contributing pattern.

681
00:32:46,520 --> 00:32:49,680
Speaker 2: It had something to do with it. However, I think

682
00:32:49,720 --> 00:32:52,040
Speaker 2: it's also really interesting to have a quick chat about

683
00:32:52,040 --> 00:32:55,480
Speaker 2: the way the share market works. And we often see

684
00:32:55,960 --> 00:32:58,440
Speaker 2: in the share market the start of the year be

685
00:32:58,600 --> 00:33:02,320
Speaker 2: kind of like New Year, you me really perform really well. However,

686
00:33:02,520 --> 00:33:05,400
Speaker 2: in twenty twenty two, we actually saw investors in the

687
00:33:05,440 --> 00:33:09,040
Speaker 2: first week of January, which was kind of unprecedented. It's

688
00:33:09,040 --> 00:33:11,120
Speaker 2: not the way the share market usually works. They were

689
00:33:11,160 --> 00:33:14,560
Speaker 2: ditching all these fast growing technology companies like after pay

690
00:33:15,120 --> 00:33:18,120
Speaker 2: in favor for like less hyped businesses, which is a

691
00:33:18,120 --> 00:33:20,720
Speaker 2: really big change from twenty twenty one. As you guys know,

692
00:33:20,840 --> 00:33:23,640
Speaker 2: we were talking about a lot of stocks like Tesla

693
00:33:23,720 --> 00:33:26,240
Speaker 2: and after Pay, which I would say are fast growing

694
00:33:26,280 --> 00:33:30,920
Speaker 2: technology companies, so they're currently being ditched. Really important to

695
00:33:31,000 --> 00:33:33,320
Speaker 2: note that the recent falls are not just in tech

696
00:33:33,360 --> 00:33:37,040
Speaker 2: stocks though, but also in other what they're calling pandemic

697
00:33:37,280 --> 00:33:41,840
Speaker 2: era type consumer facing shares. So we're turning away from

698
00:33:41,960 --> 00:33:45,320
Speaker 2: things that people really favored during the pandemic, like the

699
00:33:45,320 --> 00:33:49,000
Speaker 2: big four banks and oil majors like BHP, and we're

700
00:33:49,040 --> 00:33:52,280
Speaker 2: turning to things like industrial groups as they gain a

701
00:33:52,320 --> 00:33:56,080
Speaker 2: little bit more I guess notoriety, and people are feeling

702
00:33:56,080 --> 00:33:59,520
Speaker 2: a little bit more settled, and the share market is

703
00:33:59,560 --> 00:34:03,640
Speaker 2: reacting by going down in value, not necessarily because those

704
00:34:03,680 --> 00:34:07,840
Speaker 2: companies are worthless, but because so many people are selling

705
00:34:07,880 --> 00:34:10,960
Speaker 2: off stocks. And as we know, the share market is

706
00:34:11,040 --> 00:34:14,880
Speaker 2: driven by demand. So if a top at the shops

707
00:34:15,280 --> 00:34:19,319
Speaker 2: is really really popular, the shop owner might go, huh ah, Jess,

708
00:34:19,440 --> 00:34:21,719
Speaker 2: this is stupid. I'm just going to charge more for

709
00:34:21,760 --> 00:34:23,959
Speaker 2: it because I only have ten of these each week

710
00:34:24,040 --> 00:34:26,439
Speaker 2: to sell, so I'm just gonna put it up five

711
00:34:26,480 --> 00:34:29,560
Speaker 2: bucks or up ten bucks. But if people are like, oh,

712
00:34:29,640 --> 00:34:32,120
Speaker 2: that top's not in vogue anymore, they're going to have

713
00:34:32,160 --> 00:34:34,120
Speaker 2: to put a discount on the share for more people

714
00:34:34,160 --> 00:34:37,600
Speaker 2: to purchase it. So we're actually seeing the share prices

715
00:34:37,600 --> 00:34:40,360
Speaker 2: come down, not because the companies are performing any differently,

716
00:34:40,640 --> 00:34:44,359
Speaker 2: but because of share market hunger, because of the way

717
00:34:44,440 --> 00:34:46,440
Speaker 2: our community is viewing it. Like it could be people

718
00:34:46,480 --> 00:34:48,120
Speaker 2: like Jess and George being like, I want to own

719
00:34:48,160 --> 00:34:51,760
Speaker 2: Telsa anymore. It'satitayday. That was twenty twenty one. I'm moving

720
00:34:51,760 --> 00:34:53,919
Speaker 2: on it's twenty twenty two, and I want to buy

721
00:34:54,160 --> 00:34:57,200
Speaker 2: something that's a little bit more consumer facing, Like that's

722
00:34:57,239 --> 00:34:59,279
Speaker 2: what's going on at the moment. And I think it's

723
00:34:59,360 --> 00:35:02,600
Speaker 2: really imp important to realize that it's not a sell

724
00:35:02,680 --> 00:35:06,759
Speaker 2: off about Omicron and about COVID, because what we're seeing

725
00:35:06,840 --> 00:35:09,160
Speaker 2: in the share market when it comes to COVID and

726
00:35:09,320 --> 00:35:13,080
Speaker 2: Omicron is that it's actually eased in markets as companies

727
00:35:13,080 --> 00:35:15,520
Speaker 2: are starting to reopen, Like people are a little bit

728
00:35:15,520 --> 00:35:19,719
Speaker 2: more comfortable about how the pandemic impacts countries and how

729
00:35:19,840 --> 00:35:22,759
Speaker 2: we're locking down, Like here in Australia, we now know

730
00:35:22,960 --> 00:35:26,640
Speaker 2: what the COVID normal potentially looks like, Jess George, you've

731
00:35:26,680 --> 00:35:29,040
Speaker 2: just been through this yourselves, and we were literally having

732
00:35:29,120 --> 00:35:32,319
Speaker 2: this conversation off air where it's really strange how the

733
00:35:32,320 --> 00:35:36,000
Speaker 2: goalposts have changed from being super locked down and like

734
00:35:36,320 --> 00:35:39,359
Speaker 2: no COVID ever to all right, Jess George, all right,

735
00:35:39,360 --> 00:35:41,440
Speaker 2: if you test negative, you can be out in the community,

736
00:35:41,560 --> 00:35:42,880
Speaker 2: doesn't matter. If you've still got a bit of a

737
00:35:42,960 --> 00:35:46,160
Speaker 2: lingering cough, don't worry about it. Like we're getting a

738
00:35:46,160 --> 00:35:49,720
Speaker 2: little bit more comfortable with what that COVID normal world

739
00:35:49,840 --> 00:35:53,120
Speaker 2: looks like, and that is translating to the share market,

740
00:35:53,239 --> 00:35:56,200
Speaker 2: which means that COVID isn't impacting the share market as

741
00:35:56,280 --> 00:35:58,759
Speaker 2: much as it was in twenty twenty and twenty twenty one,

742
00:35:59,320 --> 00:36:02,720
Speaker 2: whereas now the share market's a bit more worried about inflation,

743
00:36:02,880 --> 00:36:04,879
Speaker 2: and as you guys know, everyone's a bit like, well,

744
00:36:04,920 --> 00:36:07,719
Speaker 2: what happens if interest rates increase? Like we're being a

745
00:36:07,760 --> 00:36:10,080
Speaker 2: little bit more protective of that because we're being told

746
00:36:10,120 --> 00:36:12,920
Speaker 2: that that's potentially happening, Like we're seeing the big banks

747
00:36:13,000 --> 00:36:16,200
Speaker 2: talk about it. We are seeing that interest rates could

748
00:36:16,200 --> 00:36:19,520
Speaker 2: go up if central bank policy changes. And I think

749
00:36:19,600 --> 00:36:22,919
Speaker 2: that's what's potentially driving the share market a bit more

750
00:36:22,960 --> 00:36:26,520
Speaker 2: than Omicron or Covid or you know, maybe people selling

751
00:36:26,520 --> 00:36:30,000
Speaker 2: off Tesla. We are just seeing the share market react

752
00:36:30,360 --> 00:36:32,880
Speaker 2: to what people's hunger for shares are at the moment

753
00:36:32,880 --> 00:36:35,520
Speaker 2: and what that actually looks like. And when it comes

754
00:36:35,600 --> 00:36:38,359
Speaker 2: to things like the interest rate, people are being conservative.

755
00:36:38,600 --> 00:36:41,120
Speaker 2: They're getting rid of things that they don't think that

756
00:36:41,120 --> 00:36:43,560
Speaker 2: they want to hold anymore. So does that kind of

757
00:36:43,760 --> 00:36:47,800
Speaker 2: answer it a little bit? Yes, George questions open the floor.

758
00:36:47,880 --> 00:36:50,239
Speaker 1: My friends really well said they're v and I feel

759
00:36:50,239 --> 00:36:51,880
Speaker 1: like that does give a lot of context as to

760
00:36:51,920 --> 00:36:54,160
Speaker 1: what is actually happening, because I feel like I just

761
00:36:54,160 --> 00:36:56,520
Speaker 1: assumed it was something to do with COVID she'll be right.

762
00:36:56,960 --> 00:36:59,560
Speaker 2: I think it all just Assuman's COVID now. And before

763
00:36:59,600 --> 00:37:01,360
Speaker 2: this episode, I was like, guys, it's not COVID, and

764
00:37:01,400 --> 00:37:03,040
Speaker 2: you're like, what, it's always.

765
00:37:03,160 --> 00:37:08,120
Speaker 3: Sure it is, Victoria. So and I know that.

766
00:37:08,080 --> 00:37:10,279
Speaker 1: You might not be able to answer this question because

767
00:37:10,280 --> 00:37:12,320
Speaker 1: you're not a mind reader, So why are you asking?

768
00:37:12,960 --> 00:37:15,160
Speaker 1: Or a reader of the future, I guess I should say,

769
00:37:15,560 --> 00:37:19,319
Speaker 1: how long can we expect our portfolios to kind of

770
00:37:19,440 --> 00:37:22,319
Speaker 1: be on this downward trend? Is it going to pep

771
00:37:22,400 --> 00:37:23,120
Speaker 1: up anytime soon?

772
00:37:23,560 --> 00:37:25,239
Speaker 2: I wish I could tell you, do you know what?

773
00:37:25,400 --> 00:37:27,960
Speaker 2: I'd be so rich, like people would be calling me

774
00:37:28,040 --> 00:37:31,319
Speaker 2: the next Warren Buffett if I could actually tell you

775
00:37:31,400 --> 00:37:34,799
Speaker 2: what was going to happen. But interestingly enough, there is

776
00:37:34,840 --> 00:37:38,080
Speaker 2: something called the January effect, and I alluded to this earlier,

777
00:37:38,480 --> 00:37:42,880
Speaker 2: and it's usually quite I guess, pronounced in US stocks,

778
00:37:42,920 --> 00:37:46,040
Speaker 2: not necessarily Australian stocks, but as we know, the global

779
00:37:46,080 --> 00:37:50,040
Speaker 2: markets really do impact the Australian markets. And there's actually

780
00:37:50,040 --> 00:37:52,600
Speaker 2: an old saying in the markets. When I say an

781
00:37:52,640 --> 00:37:55,040
Speaker 2: old saying, like, you guys don't know what that saying is,

782
00:37:55,040 --> 00:37:57,319
Speaker 2: but like old financial advisors say it, so it must

783
00:37:57,320 --> 00:38:01,359
Speaker 2: be quite legitimate. And they say how January goes is

784
00:38:01,400 --> 00:38:03,479
Speaker 2: how the rest of the year will pan out, which

785
00:38:03,520 --> 00:38:06,120
Speaker 2: is kind of interesting and kind of negative, and I

786
00:38:06,120 --> 00:38:07,799
Speaker 2: don't want to be on the podcast being like it's

787
00:38:07,880 --> 00:38:11,000
Speaker 2: going to go down for the whole year, but essentially

788
00:38:11,120 --> 00:38:14,120
Speaker 2: what the markets are saying and the whispers among all

789
00:38:14,160 --> 00:38:16,480
Speaker 2: of my market update emails, which you guys know I'm

790
00:38:16,520 --> 00:38:20,239
Speaker 2: obsessed with and read every single day, essentially alluding to

791
00:38:20,320 --> 00:38:23,240
Speaker 2: saying that if January is down, then the market expectations

792
00:38:23,280 --> 00:38:25,799
Speaker 2: will be down a year for the US stocks for

793
00:38:25,840 --> 00:38:29,200
Speaker 2: twenty twenty two, which is kind of interesting. But even so,

794
00:38:29,520 --> 00:38:32,600
Speaker 2: I do think that the market can increase in twenty

795
00:38:32,600 --> 00:38:35,439
Speaker 2: twenty two. In saying that, I do think that there

796
00:38:35,520 --> 00:38:37,960
Speaker 2: is a lot of room for the market to increase

797
00:38:38,000 --> 00:38:40,680
Speaker 2: in twenty twenty two, and I wouldn't say that it's

798
00:38:40,719 --> 00:38:42,239
Speaker 2: going to be a negative year. I feel like there's

799
00:38:42,280 --> 00:38:45,320
Speaker 2: a lot of optimism, like people and countries are coming

800
00:38:45,360 --> 00:38:48,360
Speaker 2: out of this omicron stuff, we're coming out of COVID,

801
00:38:48,440 --> 00:38:50,800
Speaker 2: and I think that a lot more people are wanting

802
00:38:50,840 --> 00:38:54,120
Speaker 2: to invest and create wealth and buy shares. So I

803
00:38:54,239 --> 00:38:58,120
Speaker 2: just don't see it as consistently going down, especially given

804
00:38:58,280 --> 00:39:00,480
Speaker 2: the ride that we've been on over the last three years.

805
00:39:00,520 --> 00:39:02,160
Speaker 2: I feel like people who are a little bit more

806
00:39:02,280 --> 00:39:04,439
Speaker 2: educated and a little bit more ballsy and a little

807
00:39:04,480 --> 00:39:07,080
Speaker 2: bit less likely to go, oh my gosh, it will

808
00:39:07,120 --> 00:39:09,719
Speaker 2: go down because January is down. But as I said,

809
00:39:09,760 --> 00:39:12,440
Speaker 2: I can't predict it. I just like having these conversations

810
00:39:12,440 --> 00:39:15,200
Speaker 2: and hopefully you guys like listening to them, because that's

811
00:39:15,239 --> 00:39:16,120
Speaker 2: what we're here for.

812
00:39:17,040 --> 00:39:18,560
Speaker 3: I saw a really cute post the other day and

813
00:39:18,600 --> 00:39:21,600
Speaker 3: it said, when the stock market is down, your shares

814
00:39:21,600 --> 00:39:25,360
Speaker 3: are on sale. So if you're wanting to buy, obviously

815
00:39:25,360 --> 00:39:27,359
Speaker 3: not suggesting you would buy. You don't know if it's

816
00:39:27,400 --> 00:39:28,719
Speaker 3: going to go up or down. We can't tell you

817
00:39:28,800 --> 00:39:31,080
Speaker 3: what to do. But instead of thinking of it that way,

818
00:39:31,200 --> 00:39:32,960
Speaker 3: maybe just think of it as a good time to

819
00:39:33,400 --> 00:39:35,239
Speaker 3: if you're wanting to get on in there.

820
00:39:35,520 --> 00:39:39,080
Speaker 2: Yes, literally, when the market is down, that is the

821
00:39:39,120 --> 00:39:42,560
Speaker 2: point of maximum opportunity in the share market. And when

822
00:39:42,560 --> 00:39:44,839
Speaker 2: the share market is really up and people are saying

823
00:39:44,880 --> 00:39:46,759
Speaker 2: that it is a bull market, which means it's kind

824
00:39:46,760 --> 00:39:50,239
Speaker 2: of like charging ahead, that's when there's the most risk.

825
00:39:50,680 --> 00:39:54,040
Speaker 2: So Jess you're onto something. I think you should be

826
00:39:54,080 --> 00:39:55,840
Speaker 2: the next Warren Buffett. It won't be made. It'll be

827
00:39:55,920 --> 00:40:01,880
Speaker 2: Jesse free, she and her individual stock portfolio. All right, guys,

828
00:40:01,920 --> 00:40:04,640
Speaker 2: I think that is all we have time for today.

829
00:40:05,120 --> 00:40:07,320
Speaker 2: Just before we head off, though, we'd like to acknowledge

830
00:40:07,320 --> 00:40:11,280
Speaker 2: and pay respect to Australia's Aboriginal and torrest Rade islander peoples.

831
00:40:11,520 --> 00:40:14,680
Speaker 2: They're the traditional custodians of the lands, the waterways and

832
00:40:14,719 --> 00:40:18,080
Speaker 2: the skies all across Australia. We thank you for caring

833
00:40:18,160 --> 00:40:20,040
Speaker 2: and for sharing for the land on which we are

834
00:40:20,120 --> 00:40:23,240
Speaker 2: able to learn. We pay respects to orders past and present,

835
00:40:23,440 --> 00:40:26,719
Speaker 2: and we share our friendship and our kindness. See you

836
00:40:26,800 --> 00:40:28,600
Speaker 2: next week, guys. Bye guys,