1 00:00:00,200 --> 00:00:19,440 Speaker 1: She's on the Money. She's on the Money. 2 00:00:23,360 --> 00:00:26,280 Speaker 2: Hello, and welcome to She's on the Money, the podcast 3 00:00:26,320 --> 00:00:30,640 Speaker 2: for millennials who want financial freedom. My name is Tony Lodge, 4 00:00:30,680 --> 00:00:33,640 Speaker 2: and joining me for another shot back money Diary is 5 00:00:33,680 --> 00:00:35,080 Speaker 2: Miss Victoria Divine. 6 00:00:35,200 --> 00:00:36,200 Speaker 3: Hello, my friend. 7 00:00:36,320 --> 00:00:38,959 Speaker 2: Thank you for joining me again today on this sunny day. 8 00:00:39,000 --> 00:00:40,320 Speaker 2: It's not sunny outside. 9 00:00:39,960 --> 00:00:42,640 Speaker 3: No, it's really dreary. Yeah, but you're welcome. 10 00:00:42,800 --> 00:00:45,839 Speaker 2: It'll do. So we've got a little bit of a different, 11 00:00:46,360 --> 00:00:48,760 Speaker 2: different spin on a money Diary today, which I think 12 00:00:48,800 --> 00:00:51,920 Speaker 2: you're really going to like, and it might cross over 13 00:00:52,000 --> 00:00:55,240 Speaker 2: into one of our other podcasts called The Business Bible. 14 00:00:55,360 --> 00:00:55,920 Speaker 3: Oh will it. 15 00:00:57,560 --> 00:01:01,360 Speaker 2: C So if this are what will you have to 16 00:01:01,360 --> 00:01:04,720 Speaker 2: write and say? But if this podcast, you know, sparks 17 00:01:04,760 --> 00:01:06,800 Speaker 2: anything for you, you can jump over and listen to The 18 00:01:06,840 --> 00:01:09,360 Speaker 2: Business Bible and maybe have a look at some small 19 00:01:09,520 --> 00:01:10,759 Speaker 2: business tires. 20 00:01:10,920 --> 00:01:14,080 Speaker 3: I'm quite biased, but when it comes to business podcasts, 21 00:01:14,120 --> 00:01:15,520 Speaker 3: that is probably. 22 00:01:15,080 --> 00:01:17,440 Speaker 2: The best, definitely the best one. I don't think there 23 00:01:17,440 --> 00:01:18,200 Speaker 2: are any others. 24 00:01:18,280 --> 00:01:20,520 Speaker 3: I actually can't even think of another one better than 25 00:01:20,560 --> 00:01:21,400 Speaker 3: that podcast. 26 00:01:21,680 --> 00:01:22,920 Speaker 2: All right, should we get right into it? 27 00:01:23,520 --> 00:01:25,319 Speaker 3: Read out her email? Please don't elatch. 28 00:01:26,000 --> 00:01:28,280 Speaker 2: Hey, she's on the Money team. I saw that you 29 00:01:28,280 --> 00:01:31,480 Speaker 2: were looking for money diarists whose side hustles have become 30 00:01:31,520 --> 00:01:33,840 Speaker 2: their full time gigs, and I wanted to reach out 31 00:01:33,920 --> 00:01:36,880 Speaker 2: because that is me. I've just done it backwards. I 32 00:01:36,959 --> 00:01:39,200 Speaker 2: quit my full time job earlier this year to give 33 00:01:39,240 --> 00:01:41,480 Speaker 2: my side hustle a real go, as I knew I 34 00:01:41,480 --> 00:01:43,760 Speaker 2: wouldn't give it enough thought unless I took the plunge 35 00:01:43,760 --> 00:01:46,280 Speaker 2: and went all in. I do content creation and have 36 00:01:46,360 --> 00:01:48,440 Speaker 2: been working on and off as a photographer and in 37 00:01:48,480 --> 00:01:51,200 Speaker 2: production role since I was fourteen. I've always wanted to 38 00:01:51,240 --> 00:01:53,400 Speaker 2: give media work a shop, but was worried about not 39 00:01:53,440 --> 00:01:56,320 Speaker 2: being able to find enough clients to support myself financially. 40 00:01:56,840 --> 00:01:57,840 Speaker 2: A bit of a fickle. 41 00:01:57,600 --> 00:02:00,680 Speaker 3: Industry, actually such a hard industry. And I'm excited here 42 00:02:00,680 --> 00:02:02,600 Speaker 3: that she was like nop, I back myself enough to 43 00:02:02,600 --> 00:02:04,800 Speaker 3: know that if I don't have any other option, I'm 44 00:02:04,840 --> 00:02:06,800 Speaker 3: going to get it done. Yeah, that's so cool. 45 00:02:06,880 --> 00:02:09,200 Speaker 2: I'm super lucky to live with my parents rent free, 46 00:02:09,240 --> 00:02:11,280 Speaker 2: and like so many others, was meant to go backpacking 47 00:02:11,280 --> 00:02:13,200 Speaker 2: around Europe last year, so I had a ton of 48 00:02:13,240 --> 00:02:16,959 Speaker 2: money in savings old COVID. I decided that this year 49 00:02:17,040 --> 00:02:18,800 Speaker 2: was as good a time as any, so handed in 50 00:02:18,840 --> 00:02:21,440 Speaker 2: my notice, started focusing on publishing more of my own 51 00:02:21,440 --> 00:02:25,240 Speaker 2: photography online, and started live to create a creative media 52 00:02:25,280 --> 00:02:27,960 Speaker 2: agency with a few friends. We are slowly picking up 53 00:02:27,960 --> 00:02:30,880 Speaker 2: clients and looking forward to seeing where this endeavor takes us. 54 00:02:31,320 --> 00:02:34,720 Speaker 3: That's very cool. She's already on the line, because that's 55 00:02:34,760 --> 00:02:35,480 Speaker 3: how this works. 56 00:02:35,520 --> 00:02:35,880 Speaker 2: Guys. 57 00:02:36,680 --> 00:02:39,800 Speaker 3: Hello, Money Diarist. Hello, how are you? 58 00:02:39,840 --> 00:02:40,160 Speaker 4: Guys? 59 00:02:40,200 --> 00:02:42,960 Speaker 3: We are so good. I want to know all about 60 00:02:43,000 --> 00:02:45,480 Speaker 3: your small business and what you've been up to and 61 00:02:45,520 --> 00:02:48,919 Speaker 3: how it's been going. But first we've got the questions 62 00:02:48,919 --> 00:02:50,919 Speaker 3: that we go through, so we get the bricks and 63 00:02:50,960 --> 00:02:53,080 Speaker 3: mortar of what's going on, so then we can deep 64 00:02:53,160 --> 00:02:53,840 Speaker 3: dive into it. 65 00:02:53,919 --> 00:02:55,080 Speaker 2: After bricks and mortar. 66 00:02:55,280 --> 00:02:56,520 Speaker 3: Yeah, that was wasn't it. 67 00:02:56,600 --> 00:02:57,640 Speaker 2: I was interesting? Thank you. 68 00:02:57,760 --> 00:03:01,080 Speaker 3: Yeah, interesting doesn't mean good. Sorry, I'll talk about this. 69 00:03:01,720 --> 00:03:05,040 Speaker 3: I'm taking this conversation offline, and what we're going to 70 00:03:05,080 --> 00:03:09,840 Speaker 3: talk about is money Diarist. What is your attitude towards money? 71 00:03:10,760 --> 00:03:12,800 Speaker 4: So from a really young age, my parents did teach 72 00:03:12,840 --> 00:03:14,840 Speaker 4: us about the value of money. So little things like 73 00:03:14,880 --> 00:03:18,760 Speaker 4: if you wanted something unnecessarily like a like a house, 74 00:03:18,840 --> 00:03:20,880 Speaker 4: bade pein at school or something we had to work 75 00:03:20,919 --> 00:03:23,079 Speaker 4: like extra tours around the house sale it or towards 76 00:03:23,120 --> 00:03:25,200 Speaker 4: those little things. So they did a really good job 77 00:03:25,240 --> 00:03:28,000 Speaker 4: of teaching us like money just doesn't growing tries from 78 00:03:28,040 --> 00:03:31,399 Speaker 4: quite a young age. And then when I was about fourteen, 79 00:03:31,520 --> 00:03:33,640 Speaker 4: I did year ten work experience as a photographer and 80 00:03:33,680 --> 00:03:36,160 Speaker 4: got a job with that company straight after, and I've 81 00:03:36,160 --> 00:03:38,280 Speaker 4: been working as a photographer on and off since then 82 00:03:38,320 --> 00:03:38,840 Speaker 4: pretty much. 83 00:03:39,000 --> 00:03:42,320 Speaker 2: Oh that's so young to get into something like, so cool. 84 00:03:42,520 --> 00:03:44,320 Speaker 3: And I loved that your parents yeah brought you from 85 00:03:44,320 --> 00:03:46,720 Speaker 3: a young page as well, and that you like remember 86 00:03:46,760 --> 00:03:49,120 Speaker 3: it because so many people are actually like, oh, I 87 00:03:49,200 --> 00:03:53,280 Speaker 3: actually can't remember like when I started having money conversations, because. 88 00:03:53,040 --> 00:03:54,480 Speaker 2: When you're a kid, you don't care about it as 89 00:03:54,520 --> 00:03:57,120 Speaker 2: long as you can't have lollies and you know, like 90 00:03:57,280 --> 00:03:59,320 Speaker 2: buying new toys and stuff. You're like, oh, I don't 91 00:03:59,360 --> 00:04:01,120 Speaker 2: care about money. Mum and dad just have it. That's 92 00:04:01,320 --> 00:04:02,640 Speaker 2: that's what they deal with. Yeah. 93 00:04:02,800 --> 00:04:07,560 Speaker 3: Yeah, Like it's when we're like, well, back in now day, 94 00:04:07,600 --> 00:04:10,320 Speaker 3: do you remember getting gold coins and thinking that was sick? Yeah? 95 00:04:10,440 --> 00:04:12,960 Speaker 3: Kids these days are probably like Tony, what are we 96 00:04:12,960 --> 00:04:13,720 Speaker 3: going to do with a coin? 97 00:04:13,920 --> 00:04:16,520 Speaker 2: Literally? Yeah, they're easy by coin? Yeah? 98 00:04:17,080 --> 00:04:18,040 Speaker 3: Do I get a big coin? 99 00:04:18,440 --> 00:04:18,520 Speaker 4: No? 100 00:04:18,680 --> 00:04:22,640 Speaker 3: Okay, I want doge coin. All right, So next question 101 00:04:23,040 --> 00:04:25,280 Speaker 3: is what do you currently do for work? I think 102 00:04:25,320 --> 00:04:27,240 Speaker 3: we already know, but you're going to explain it in 103 00:04:27,279 --> 00:04:30,320 Speaker 3: a little more detail. And how much money do you earn? 104 00:04:31,560 --> 00:04:34,280 Speaker 4: So until earlier this year, I was working full time 105 00:04:34,320 --> 00:04:37,040 Speaker 4: as a photographers for a company. I was on fifty 106 00:04:37,040 --> 00:04:39,400 Speaker 4: thousand a years for that job. And then, as I 107 00:04:39,400 --> 00:04:42,080 Speaker 4: said earlier, I handed in my notice quit that and 108 00:04:42,200 --> 00:04:45,120 Speaker 4: started off a side hustle or content creation agency with 109 00:04:45,160 --> 00:04:47,239 Speaker 4: a few friends. And I'm also working at a pub 110 00:04:47,760 --> 00:04:49,919 Speaker 4: a couple hours a week just to avoid touching my 111 00:04:49,960 --> 00:04:52,000 Speaker 4: savings and I get about make county dollars a week 112 00:04:52,040 --> 00:04:52,800 Speaker 4: from that pub job. 113 00:04:53,440 --> 00:04:56,320 Speaker 2: Oh cool, So that's enough to I mean you live 114 00:04:56,360 --> 00:05:00,680 Speaker 2: at home, which is really lucky. Yeah's hundred dollars a 115 00:05:00,720 --> 00:05:03,040 Speaker 2: week is more than enough to pay your phone bill 116 00:05:03,160 --> 00:05:04,159 Speaker 2: and groceries. 117 00:05:04,320 --> 00:05:06,040 Speaker 3: You get to live at home exactly. 118 00:05:06,279 --> 00:05:08,400 Speaker 4: I think it comes like petrol. And if I want 119 00:05:08,440 --> 00:05:09,880 Speaker 4: to go to dinner, I wants a few weeks every 120 00:05:09,880 --> 00:05:13,000 Speaker 4: few weeks as friends each rockhoun Hy they were to 121 00:05:13,040 --> 00:05:15,440 Speaker 4: go just do that with friends aout touching my savings account. 122 00:05:15,680 --> 00:05:18,200 Speaker 3: Yeah, I love that. And I mean if you're at 123 00:05:18,200 --> 00:05:20,720 Speaker 3: home and it's obviously a privilege, and like we all 124 00:05:20,760 --> 00:05:23,039 Speaker 3: know that, but I think it's one of those things 125 00:05:23,040 --> 00:05:25,120 Speaker 3: that if you're at home, like make hay while the 126 00:05:25,160 --> 00:05:27,640 Speaker 3: sun is shining, like how much can you set up 127 00:05:27,640 --> 00:05:29,360 Speaker 3: before you move out? And you have all of those 128 00:05:29,400 --> 00:05:32,800 Speaker 3: really big losts because I know when I was at 129 00:05:32,800 --> 00:05:34,599 Speaker 3: home and I did move out when I was eighteen, 130 00:05:34,680 --> 00:05:36,800 Speaker 3: but like I did not. I took it for granted, 131 00:05:37,000 --> 00:05:39,440 Speaker 3: like I did not make the most of anything, even 132 00:05:39,440 --> 00:05:42,440 Speaker 3: at eighteen. And then I watched my little sister who 133 00:05:42,480 --> 00:05:45,280 Speaker 3: has lived at home on and off throughout that period, 134 00:05:45,360 --> 00:05:47,679 Speaker 3: and I'm like, oh, she goes home and she saves, 135 00:05:47,720 --> 00:05:49,680 Speaker 3: and like Mum and Dad want to support her, and 136 00:05:49,720 --> 00:05:53,200 Speaker 3: I'm just like, oh, the envy is real. Yeah, anyway, 137 00:05:53,839 --> 00:05:57,520 Speaker 3: next question, what is currently your big money goal? 138 00:05:58,920 --> 00:06:01,599 Speaker 4: So kind of like everyone else, my big money goal 139 00:06:01,640 --> 00:06:03,239 Speaker 4: is to one day be able to afford a property. 140 00:06:03,320 --> 00:06:05,120 Speaker 4: So I do have quite a bit in savings at 141 00:06:05,160 --> 00:06:08,120 Speaker 4: the moment. That's been a long term savings account for 142 00:06:08,279 --> 00:06:10,960 Speaker 4: that money goal. And then I also really want to 143 00:06:10,960 --> 00:06:14,160 Speaker 4: buy a van and drive Australia taking photos. Is like, oh, 144 00:06:14,320 --> 00:06:14,960 Speaker 4: that's kind. 145 00:06:14,760 --> 00:06:15,120 Speaker 3: Of like. 146 00:06:16,839 --> 00:06:19,720 Speaker 4: That's gonna happen yet, But that's been a goal since 147 00:06:19,720 --> 00:06:20,279 Speaker 4: I was a kid. 148 00:06:20,520 --> 00:06:23,160 Speaker 3: All right, But like you said, you've got heaps of savings, 149 00:06:23,200 --> 00:06:26,800 Speaker 3: Like this is a money diary episode. What does heaps 150 00:06:26,839 --> 00:06:27,719 Speaker 3: of savings mean? 151 00:06:28,920 --> 00:06:31,600 Speaker 4: I have fifty five thousand in a long term account, 152 00:06:31,839 --> 00:06:34,680 Speaker 4: almost under three in a holiday fund, and then a 153 00:06:35,240 --> 00:06:38,080 Speaker 4: support yourself fund which is just over two thousand dollars. 154 00:06:38,240 --> 00:06:41,120 Speaker 3: What and how long did you say you. 155 00:06:41,080 --> 00:06:43,840 Speaker 4: Were again my friend, I'm twenty four. 156 00:06:44,080 --> 00:06:46,480 Speaker 3: Oh my gosh, how do you do that? 157 00:06:46,560 --> 00:06:48,839 Speaker 2: Afinitely? Making hey well the sunny yah. 158 00:06:50,080 --> 00:06:52,240 Speaker 3: Take advantage of it like some people be like I've 159 00:06:52,279 --> 00:06:54,599 Speaker 3: got five grand saved. I can absolutely quit my job 160 00:06:54,640 --> 00:06:57,000 Speaker 3: and like start this small business thing, honor. I've got 161 00:06:57,080 --> 00:07:00,919 Speaker 3: fifty five thousand dollars saved. That's so excited. 162 00:07:01,760 --> 00:07:03,600 Speaker 4: I don't know when I want to say for something, 163 00:07:03,800 --> 00:07:06,640 Speaker 4: I really knuckle down and don't let myself spend money 164 00:07:06,680 --> 00:07:07,720 Speaker 4: unless I really need to. 165 00:07:08,240 --> 00:07:10,280 Speaker 3: How did you adopt the mindset of like, no, I 166 00:07:10,320 --> 00:07:12,200 Speaker 3: really need to save even though you're at home, because 167 00:07:12,200 --> 00:07:14,160 Speaker 3: so many people are like, oh my gosh, I lived 168 00:07:14,200 --> 00:07:15,840 Speaker 3: at home and I never took advantage of it. Was 169 00:07:15,840 --> 00:07:17,600 Speaker 3: there like a moment in time where you were like, 170 00:07:17,640 --> 00:07:20,120 Speaker 3: oh my gosh, like I actually have a great opportunity 171 00:07:20,120 --> 00:07:22,680 Speaker 3: here to save, or like was it ingrained, or like 172 00:07:22,960 --> 00:07:25,480 Speaker 3: how do other people get into that mindset and start 173 00:07:25,480 --> 00:07:27,400 Speaker 3: doing exactly what you're doing if they're at home. 174 00:07:27,480 --> 00:07:28,680 Speaker 2: Yeah, give us your saving. 175 00:07:28,480 --> 00:07:29,120 Speaker 3: Give us yours. 176 00:07:30,280 --> 00:07:32,120 Speaker 4: I think for me, one of the big things was 177 00:07:32,720 --> 00:07:36,120 Speaker 4: if I love traveling. I absolutely love traveling, and I 178 00:07:36,240 --> 00:07:38,720 Speaker 4: know my parents weren't bet to fund that addiction to travel. 179 00:07:39,240 --> 00:07:41,600 Speaker 4: So for me, the second I finished school, I started 180 00:07:41,600 --> 00:07:44,080 Speaker 4: saving for the holidays and then started UNI and got 181 00:07:44,120 --> 00:07:46,400 Speaker 4: the opportunity to go live overseas for a year for UNI. 182 00:07:46,880 --> 00:07:49,559 Speaker 4: So I had to fund that entire year upfront before 183 00:07:49,560 --> 00:07:50,640 Speaker 4: I left Australia. 184 00:07:50,680 --> 00:07:53,480 Speaker 3: And you've gone all of that and saved fifty five 185 00:07:53,520 --> 00:07:56,480 Speaker 3: grand plus all of your other accounts in addition to 186 00:07:56,520 --> 00:08:00,880 Speaker 3: having funded a year abroad already. Yes, Oh my gosh. 187 00:08:00,920 --> 00:08:04,520 Speaker 3: So what is your biggest saving tip? Come on, be 188 00:08:04,640 --> 00:08:07,000 Speaker 3: really stingy, stingy. 189 00:08:07,200 --> 00:08:10,720 Speaker 2: I love it. It's it's the simpleste savings hack that 190 00:08:10,800 --> 00:08:13,600 Speaker 2: there is is just don't actually spend it. Yeah. 191 00:08:14,200 --> 00:08:17,240 Speaker 4: Yeah, Like if you can avoid spending something unnecessarily, I 192 00:08:17,440 --> 00:08:19,760 Speaker 4: just don't. Or like if I know I need something, 193 00:08:19,800 --> 00:08:21,480 Speaker 4: I try and wait till there's a stay or coming 194 00:08:21,560 --> 00:08:23,520 Speaker 4: up so I can down the track buy it in 195 00:08:23,560 --> 00:08:24,720 Speaker 4: a month or two a little bit cheaper. 196 00:08:25,400 --> 00:08:30,320 Speaker 3: So moving back into questions do you currently invest. 197 00:08:29,760 --> 00:08:32,720 Speaker 4: I actually have recently started investing through Spaceship, so I 198 00:08:32,720 --> 00:08:35,319 Speaker 4: have about one thousand in a spaceship account at the moment. 199 00:08:35,480 --> 00:08:39,760 Speaker 4: But I have also been looking into other bigger investment platforms. 200 00:08:39,760 --> 00:08:42,240 Speaker 3: There's the last couple of months very cool, and what 201 00:08:42,280 --> 00:08:44,520 Speaker 3: are your plans on it? Like are you going to 202 00:08:44,600 --> 00:08:46,800 Speaker 3: stay on spaceship for a while or like what other 203 00:08:46,880 --> 00:08:49,200 Speaker 3: big platforms are you talking about? 204 00:08:49,720 --> 00:08:51,480 Speaker 4: I have been looking to a couple of ets that 205 00:08:51,559 --> 00:08:53,240 Speaker 4: you guys have mentioned over the last couple months, and 206 00:08:53,240 --> 00:08:56,280 Speaker 4: then also into the sixth park platform you guys are 207 00:08:56,320 --> 00:08:59,600 Speaker 4: talking about, and I think about taking maybe like ten 208 00:08:59,679 --> 00:09:02,640 Speaker 4: fifty ten thousand out of my long term savings to 209 00:09:02,640 --> 00:09:04,960 Speaker 4: start investing because it's not really earning any interest at 210 00:09:04,960 --> 00:09:06,959 Speaker 4: the moment in my long term savings account. 211 00:09:07,080 --> 00:09:10,800 Speaker 3: Yeah, interest rates at that moment and looking arguably dismal, 212 00:09:10,920 --> 00:09:13,960 Speaker 3: But that is okay. So I feel like I know 213 00:09:14,040 --> 00:09:17,280 Speaker 3: the answer to this. But do you have any debts? 214 00:09:18,960 --> 00:09:24,280 Speaker 4: Yes, I actually have a gigantic except my exit is 215 00:09:24,440 --> 00:09:25,760 Speaker 4: nearly fifty thousand dollars. 216 00:09:26,120 --> 00:09:27,040 Speaker 3: That's okay. 217 00:09:27,520 --> 00:09:29,680 Speaker 4: But other than that, I've never had a credit card, 218 00:09:30,160 --> 00:09:32,360 Speaker 4: and like even my car, I bought a brand new 219 00:09:32,360 --> 00:09:34,000 Speaker 4: car when I got home from Exchange and I paid 220 00:09:34,000 --> 00:09:36,520 Speaker 4: that upfront as well. So I've never had any other 221 00:09:36,600 --> 00:09:37,600 Speaker 4: debts other than my hex. 222 00:09:37,880 --> 00:09:40,679 Speaker 3: That is really impressive, and I feel like so many 223 00:09:40,720 --> 00:09:43,200 Speaker 3: people need to see their debt in that way, Like 224 00:09:43,760 --> 00:09:46,640 Speaker 3: hextet can feel really heavy if you're not educated on 225 00:09:46,720 --> 00:09:48,800 Speaker 3: what it means and what it gets you. But I 226 00:09:48,840 --> 00:09:50,800 Speaker 3: guess it's one of those things that once you actually 227 00:09:50,800 --> 00:09:53,720 Speaker 3: fully comprehend, like, oh, actually, that's kind of productive for 228 00:09:53,760 --> 00:09:56,120 Speaker 3: me to have, Like I don't need to stress about it. 229 00:09:56,120 --> 00:09:58,080 Speaker 3: It becomes so much easier. 230 00:09:58,320 --> 00:10:01,040 Speaker 2: Or even if you have no other debt, I can 231 00:10:01,120 --> 00:10:02,960 Speaker 2: understand how it would feel for you to be like 232 00:10:03,080 --> 00:10:06,480 Speaker 2: I've got one debt and it's this huge thing. You know. 233 00:10:06,520 --> 00:10:08,280 Speaker 2: When you've got a few other debts, you're like, all right, 234 00:10:08,320 --> 00:10:10,840 Speaker 2: my heck is like the least of my worries. Yeah, 235 00:10:10,840 --> 00:10:13,040 Speaker 2: But when you've got no other debt, you're kind of like, oh, 236 00:10:13,120 --> 00:10:14,600 Speaker 2: do I need to deal with this? But yeah, I 237 00:10:14,640 --> 00:10:17,440 Speaker 2: think that, like you always say Victoria, good and bad 238 00:10:17,480 --> 00:10:18,640 Speaker 2: debt and okay debt. 239 00:10:18,520 --> 00:10:21,000 Speaker 4: Yeah exactly. So like, I'm not stressed about paying that 240 00:10:21,040 --> 00:10:23,680 Speaker 4: one down or doing extra installments to that one because 241 00:10:23,800 --> 00:10:26,280 Speaker 4: it is good debt. It's not earning much interest. I 242 00:10:26,320 --> 00:10:28,160 Speaker 4: can deal with that as I start earning money. 243 00:10:28,840 --> 00:10:32,240 Speaker 3: Yeah, down the track, Yeah, fair fair, all right. Next 244 00:10:32,320 --> 00:10:35,400 Speaker 3: question that we've recently started asking. It's not even that 245 00:10:35,440 --> 00:10:37,240 Speaker 3: recent now, is it, Tony. It's been weeks. 246 00:10:37,440 --> 00:10:39,360 Speaker 2: Yeah, it's been a couple of weeks. But I like it. 247 00:10:39,440 --> 00:10:42,520 Speaker 3: I like hearing the hacks. So do you currently use 248 00:10:42,559 --> 00:10:43,080 Speaker 3: shot back? 249 00:10:43,960 --> 00:10:46,720 Speaker 4: I don't. I've looked into it a couple of times, 250 00:10:46,720 --> 00:10:49,960 Speaker 4: but then every time I go to buy something, I 251 00:10:50,000 --> 00:10:51,760 Speaker 4: seem to just forget about it until I get home 252 00:10:51,800 --> 00:10:52,839 Speaker 4: and I was like, oh, I should have looked through 253 00:10:52,840 --> 00:10:54,720 Speaker 4: shot back. So no, not at the moment. 254 00:10:55,040 --> 00:10:57,400 Speaker 3: So common. It's like one of those things where it 255 00:10:57,440 --> 00:10:58,880 Speaker 3: seems to be the people that are really good at 256 00:10:58,880 --> 00:11:01,080 Speaker 3: shotback make it to have it, and they like set 257 00:11:01,120 --> 00:11:03,040 Speaker 3: themselves up so that they only do it through that. 258 00:11:03,080 --> 00:11:04,880 Speaker 3: And Tony, you were saying the other day that you'd 259 00:11:04,920 --> 00:11:08,319 Speaker 3: added it to your mouth room. Yeah. Chrome, So it's 260 00:11:08,360 --> 00:11:09,880 Speaker 3: just kind of like is it back then? 261 00:11:10,160 --> 00:11:14,720 Speaker 2: Yeah, so you just download it as like an extension, 262 00:11:14,760 --> 00:11:16,920 Speaker 2: an extension. Yeah, I was gonna say add on, but 263 00:11:17,080 --> 00:11:20,240 Speaker 2: you seem to know all about it money don't. And 264 00:11:20,280 --> 00:11:22,360 Speaker 2: then there's like that little puzzle piece in the corner, 265 00:11:22,360 --> 00:11:24,080 Speaker 2: and when I go to check out, it'll be like, oh, 266 00:11:24,080 --> 00:11:26,800 Speaker 2: shot Back has found like three percent for your sofa 267 00:11:27,640 --> 00:11:31,080 Speaker 2: and it's so much better. And I've actually this is 268 00:11:31,120 --> 00:11:35,160 Speaker 2: my little hack. I've actually started telling myself that I'm 269 00:11:35,160 --> 00:11:39,200 Speaker 2: not allowed to buy things on my phone. If I'm 270 00:11:39,280 --> 00:11:42,040 Speaker 2: gonna buy something, I have to like grab my laptop 271 00:11:42,120 --> 00:11:44,679 Speaker 2: just because then there's that like one extra step because 272 00:11:44,679 --> 00:11:47,600 Speaker 2: if I'm just sitting on Instagram while I'm watching TV 273 00:11:47,679 --> 00:11:50,000 Speaker 2: at that time, I'm like, oh, yeah, buy that. But 274 00:11:50,040 --> 00:11:52,040 Speaker 2: if I'm like, okay, no, I've got to get my laptop, 275 00:11:52,080 --> 00:11:53,840 Speaker 2: then I know that i'll add in the shop back 276 00:11:53,880 --> 00:11:56,480 Speaker 2: as well, and I know that I can't just sit 277 00:11:56,520 --> 00:11:59,120 Speaker 2: there and like mindlessly spend while I'm watching. 278 00:12:00,320 --> 00:12:01,560 Speaker 4: I think it's very fair. 279 00:12:01,679 --> 00:12:04,120 Speaker 3: And I found that I wasn't as good at shop 280 00:12:04,160 --> 00:12:05,880 Speaker 3: Back when it was on my phone and I had 281 00:12:05,920 --> 00:12:06,880 Speaker 3: to like then. 282 00:12:06,920 --> 00:12:07,480 Speaker 2: Open the app. 283 00:12:07,600 --> 00:12:08,840 Speaker 3: Yeah it was really up and stuff. 284 00:12:08,920 --> 00:12:11,600 Speaker 2: Yeah it's so easy, but I'm just like so forgetful. 285 00:12:11,679 --> 00:12:14,319 Speaker 3: Yeah it's easy better, Yeah, it's same, Like I'm so 286 00:12:14,400 --> 00:12:17,160 Speaker 3: lazy when it comes up like, oh, another hurdle, but 287 00:12:17,440 --> 00:12:18,520 Speaker 3: reduces the hurdles. 288 00:12:18,600 --> 00:12:19,080 Speaker 2: I like that. 289 00:12:19,360 --> 00:12:21,600 Speaker 3: Hm. I feel like we like the perfect post to 290 00:12:21,600 --> 00:12:24,199 Speaker 3: people for shop back because we're like, yeah, save your money, get. 291 00:12:24,040 --> 00:12:25,920 Speaker 2: It, And I'm like, use your laptop to that You're 292 00:12:25,920 --> 00:12:28,840 Speaker 2: not just mindlessly spending on your fire. I'm so smart. 293 00:12:29,120 --> 00:12:33,400 Speaker 3: Yeah, right, Moving away, Moving away from that, next question 294 00:12:33,640 --> 00:12:35,840 Speaker 3: is what is your best money habit. 295 00:12:36,920 --> 00:12:39,280 Speaker 4: I don't buy anything unless I can afford it upfront. So, 296 00:12:39,640 --> 00:12:41,920 Speaker 4: like I said, I don't have credit cards. I've never 297 00:12:41,960 --> 00:12:44,480 Speaker 4: really needed them because I've always forced myself to save 298 00:12:44,559 --> 00:12:48,520 Speaker 4: the things beforehand. So even like with my twelve months overseas, 299 00:12:48,679 --> 00:12:51,200 Speaker 4: I worked really hard and I was working like three 300 00:12:51,280 --> 00:12:53,760 Speaker 4: or four jobs at one point to save enough so 301 00:12:53,800 --> 00:12:55,680 Speaker 4: I wouldn't have to get a loan or anything to 302 00:12:55,720 --> 00:12:56,560 Speaker 4: fund that twelve month. 303 00:12:56,800 --> 00:12:59,560 Speaker 3: I wish I'd done when I went overseas help myself 304 00:12:59,600 --> 00:13:01,559 Speaker 3: in a hot he of personal debt at UNI. 305 00:13:02,080 --> 00:13:03,720 Speaker 2: I wish I did that when I bought a brand 306 00:13:03,760 --> 00:13:05,080 Speaker 2: new car and I bought it up front. 307 00:13:05,480 --> 00:13:07,600 Speaker 3: Wish I'd spoken to you when I was planning to 308 00:13:07,679 --> 00:13:11,640 Speaker 3: go oversease. I do not regret that it has helped 309 00:13:11,679 --> 00:13:14,240 Speaker 3: me become who I am. But I always look at 310 00:13:14,240 --> 00:13:16,520 Speaker 3: people I'm like, you're smart cookie. Yeah, I wish I 311 00:13:16,559 --> 00:13:16,920 Speaker 3: knew that. 312 00:13:17,679 --> 00:13:20,760 Speaker 2: And again, it's such a simple thing to say, like, oh, 313 00:13:20,880 --> 00:13:24,720 Speaker 2: you know, and obviously everybody's situation is different sometimes to 314 00:13:24,920 --> 00:13:27,480 Speaker 2: you know, manage your cash flow and manage what you 315 00:13:27,520 --> 00:13:29,640 Speaker 2: need to do, like you need a credit card or 316 00:13:29,640 --> 00:13:32,559 Speaker 2: you know you work well with after. 317 00:13:32,320 --> 00:13:33,040 Speaker 3: Pay or whatever. 318 00:13:33,080 --> 00:13:36,320 Speaker 2: As we've said before, sometimes they are that necessary evil 319 00:13:36,400 --> 00:13:38,520 Speaker 2: or they're the best way for you to control your 320 00:13:38,760 --> 00:13:40,760 Speaker 2: your cash flow. But I think it's really cool that 321 00:13:40,800 --> 00:13:42,360 Speaker 2: you say like, Nope, well, if I don't have the 322 00:13:42,400 --> 00:13:45,000 Speaker 2: cash for it, I don't have the cash for it. 323 00:13:45,320 --> 00:13:47,120 Speaker 2: I saw this thing on Instagram once and it said 324 00:13:47,120 --> 00:13:49,280 Speaker 2: if you can't afford to buy it twice, don't buy it. 325 00:13:49,400 --> 00:13:49,559 Speaker 3: Yeah. 326 00:13:49,600 --> 00:13:50,880 Speaker 2: I like that too. 327 00:13:51,080 --> 00:13:53,520 Speaker 3: I never I don't listen to it purchases, but I 328 00:13:53,600 --> 00:13:55,800 Speaker 3: really liked the idea. 329 00:13:56,080 --> 00:13:57,079 Speaker 2: It's a great quote. 330 00:13:57,360 --> 00:13:59,640 Speaker 3: How often do you see quotes on the internet and 331 00:13:59,679 --> 00:14:02,000 Speaker 3: you're like that is so good. I remember that my 332 00:14:02,120 --> 00:14:05,400 Speaker 3: phone is full of stuff and you take screenshots my screenshots. 333 00:14:05,480 --> 00:14:09,240 Speaker 3: Yeah yeah, And then sometimes you're like looking for a 334 00:14:09,280 --> 00:14:11,599 Speaker 3: photo and you're scrolling through it and you're like Oh yeah, 335 00:14:11,720 --> 00:14:15,160 Speaker 3: why did I like that again? Because it was three am? 336 00:14:15,240 --> 00:14:18,160 Speaker 2: The story you liked it at three am. 337 00:14:18,240 --> 00:14:21,520 Speaker 3: The next question is what is your worst money habit? 338 00:14:22,640 --> 00:14:25,040 Speaker 4: I don't budget at all. When I had a full 339 00:14:25,040 --> 00:14:27,120 Speaker 4: time job, I had a rough budget going. But since 340 00:14:27,120 --> 00:14:29,760 Speaker 4: I've quit that, I just honestly wing it. Most weeks, 341 00:14:29,760 --> 00:14:33,160 Speaker 4: I chuck so doway sixty dollars goes into my into 342 00:14:33,160 --> 00:14:35,800 Speaker 4: my spaceship accounts. But other than that, I put a 343 00:14:35,840 --> 00:14:37,760 Speaker 4: little bit into like my long term savings, a little 344 00:14:37,760 --> 00:14:39,400 Speaker 4: bit into like support Yourself fund, and a little bit 345 00:14:39,400 --> 00:14:41,720 Speaker 4: to my holiday fund and just kind of hope that 346 00:14:41,840 --> 00:14:43,960 Speaker 4: the remainder gets you through the week. But more often 347 00:14:44,000 --> 00:14:46,400 Speaker 4: than not, I have to go into my support Yourself 348 00:14:46,440 --> 00:14:48,120 Speaker 4: fund and get a little bit more like a little 349 00:14:48,120 --> 00:14:50,360 Speaker 4: bit out if they would take like or go through 350 00:14:50,360 --> 00:14:51,200 Speaker 4: your something each week. 351 00:14:51,320 --> 00:14:54,320 Speaker 3: Yeah, so really, like is that something you would say 352 00:14:54,320 --> 00:14:55,800 Speaker 3: that I just want to be better at, Like I 353 00:14:55,800 --> 00:14:57,800 Speaker 3: want to work on it, because if you're going into like, yeah, 354 00:14:58,880 --> 00:15:02,240 Speaker 3: money around you find that successful? Or is that not 355 00:15:02,320 --> 00:15:04,560 Speaker 3: a stress because obviously you don't have overheads of living 356 00:15:04,640 --> 00:15:06,520 Speaker 3: at home? Like how does that feel? 357 00:15:07,800 --> 00:15:11,440 Speaker 4: And it is stressful because I don't like dipping into my funds, Like, 358 00:15:11,480 --> 00:15:13,680 Speaker 4: once they're out of my what's on my smart access, 359 00:15:13,800 --> 00:15:15,640 Speaker 4: I don't like touching them again. Yeah, so it does 360 00:15:15,720 --> 00:15:17,480 Speaker 4: get a bit stressful when things pop up and I 361 00:15:17,520 --> 00:15:19,800 Speaker 4: do have to go back into it. But also before 362 00:15:19,800 --> 00:15:22,360 Speaker 4: I quit my full time job, I put my last 363 00:15:22,480 --> 00:15:24,560 Speaker 4: two or three paychecks straight to the support yourself on 364 00:15:24,720 --> 00:15:26,800 Speaker 4: to then when things like my rego came up, I 365 00:15:26,840 --> 00:15:29,200 Speaker 4: wouldn't be ableforet that with my pub job, but I 366 00:15:29,200 --> 00:15:30,600 Speaker 4: had the money there, so I wasn't going to my 367 00:15:30,640 --> 00:15:31,520 Speaker 4: emergency savings. 368 00:15:31,600 --> 00:15:33,720 Speaker 3: Yeah, that's smart, and I think it's. 369 00:15:33,480 --> 00:15:35,280 Speaker 4: I think it's interesting their kind of stuff. 370 00:15:35,440 --> 00:15:37,920 Speaker 3: Yeah, I think it's interesting because so many people will 371 00:15:37,960 --> 00:15:40,080 Speaker 3: say like, oh, but she has so many savings, like 372 00:15:40,120 --> 00:15:41,920 Speaker 3: she shouldn't have to stress, and it's like, well no, 373 00:15:42,480 --> 00:15:45,520 Speaker 3: just because you've got savings, like money management can still 374 00:15:45,640 --> 00:15:48,080 Speaker 3: stress you out because I haven't got this. Yeah, definitely, 375 00:15:48,360 --> 00:15:50,120 Speaker 3: And it is so stressful. If you're like, oh my gosh, 376 00:15:50,160 --> 00:15:52,160 Speaker 3: there's not enough money on that card to pay for petrol. 377 00:15:52,200 --> 00:15:53,920 Speaker 3: I have to quickly transfer it and then you. 378 00:15:53,920 --> 00:15:55,480 Speaker 2: Feel guilty, which is the worst feeling. 379 00:15:55,560 --> 00:15:57,840 Speaker 3: Yeah, you're transferring it, yeah, from like what you thought 380 00:15:57,880 --> 00:16:00,000 Speaker 3: were savings, and you're like oh, well, I'm saving less 381 00:16:00,080 --> 00:16:02,320 Speaker 3: and it's not even a problem, Like it's not a 382 00:16:02,360 --> 00:16:05,000 Speaker 3: bad thing. It just mentally is this massive hurdle that 383 00:16:05,040 --> 00:16:07,160 Speaker 3: you have to jump over and you're like, ah, like 384 00:16:07,200 --> 00:16:10,880 Speaker 3: I if I did that differently, you wouldn't have those feelings. 385 00:16:10,880 --> 00:16:13,160 Speaker 3: And that's I guess what. Yeah, shitting does for you. 386 00:16:13,280 --> 00:16:16,880 Speaker 3: But we can work on that together, my friend. So 387 00:16:17,400 --> 00:16:21,400 Speaker 3: final question, what grade would you give your money habits? 388 00:16:21,400 --> 00:16:23,640 Speaker 3: If I forced you to give yourself a grade. 389 00:16:24,480 --> 00:16:26,760 Speaker 4: I'd probably say a B plus because I think in 390 00:16:26,840 --> 00:16:28,600 Speaker 4: order to get to an A, I want to start 391 00:16:28,640 --> 00:16:31,600 Speaker 4: investing my money smarter than how I currently am, and 392 00:16:31,640 --> 00:16:33,480 Speaker 4: I need to sit the unroad of my budget with 393 00:16:33,560 --> 00:16:36,760 Speaker 4: my current not earning much money fun. 394 00:16:37,280 --> 00:16:39,680 Speaker 3: I think that's fair enough. I think that's more fair enough. 395 00:16:39,680 --> 00:16:42,760 Speaker 3: I love that. Yeah, I love that. I'm really excited 396 00:16:42,800 --> 00:16:45,360 Speaker 3: about that. But after the break, I want to hear 397 00:16:45,680 --> 00:16:48,120 Speaker 3: all about your small business and how you started that up. 398 00:16:52,960 --> 00:16:55,040 Speaker 3: So we are back, and I am so excited to 399 00:16:55,040 --> 00:16:57,640 Speaker 3: ask you about your small business as a fellow small 400 00:16:57,640 --> 00:17:01,280 Speaker 3: business owner. Classic, So how did you make the jump? 401 00:17:01,320 --> 00:17:03,760 Speaker 3: How did you know? What was time? Like so many 402 00:17:03,800 --> 00:17:06,600 Speaker 3: people always like when should I start my small business? 403 00:17:06,640 --> 00:17:08,800 Speaker 3: Like when should I quit? Like how did you work 404 00:17:08,840 --> 00:17:09,600 Speaker 3: that out yourself? 405 00:17:10,720 --> 00:17:12,800 Speaker 4: So I've been doing freelance work on the side for 406 00:17:12,840 --> 00:17:15,720 Speaker 4: a couple of years, like very very odd jobs like 407 00:17:15,800 --> 00:17:19,120 Speaker 4: here and there, maybe a couple of years, and then 408 00:17:19,320 --> 00:17:21,200 Speaker 4: a couple of my friends and I were talking about 409 00:17:21,320 --> 00:17:22,800 Speaker 4: we all want to do something simil wrong. We all 410 00:17:22,800 --> 00:17:25,760 Speaker 4: want to quit our jobs, go all in and give 411 00:17:25,760 --> 00:17:28,800 Speaker 4: it a real shot. And then earlier this year, I 412 00:17:28,920 --> 00:17:30,920 Speaker 4: just kind of said now is as good a time 413 00:17:30,960 --> 00:17:33,159 Speaker 4: as any and candid in my notice and was going 414 00:17:33,200 --> 00:17:36,639 Speaker 4: to continue going freelance by myself, and then it just 415 00:17:36,680 --> 00:17:38,520 Speaker 4: kind of fell into place. Like the other people that 416 00:17:38,560 --> 00:17:42,959 Speaker 4: I'm working with now we're in a similar situation, and 417 00:17:43,000 --> 00:17:45,560 Speaker 4: we just started working together and started all pulling in 418 00:17:45,640 --> 00:17:48,359 Speaker 4: clients from different parts of our own lives to start 419 00:17:48,359 --> 00:17:51,199 Speaker 4: our own business. And it's seen a slow process, but 420 00:17:51,200 --> 00:17:53,440 Speaker 4: we're getting there slowly and it's being really exciting. 421 00:17:53,720 --> 00:17:55,679 Speaker 3: So how many friends are you in business with? 422 00:17:56,800 --> 00:17:59,240 Speaker 4: There's four of us in total now, And how. 423 00:17:59,040 --> 00:18:02,000 Speaker 3: Did you decide that going into because that's like a 424 00:18:02,040 --> 00:18:05,040 Speaker 3: fickle area, right, like going into business as a friend, 425 00:18:05,640 --> 00:18:08,120 Speaker 3: how did you like test the waters or set those 426 00:18:08,160 --> 00:18:11,440 Speaker 3: boundaries or like make that decision and know that going 427 00:18:11,480 --> 00:18:14,160 Speaker 3: into business as a group was a smarter idea than 428 00:18:14,240 --> 00:18:17,280 Speaker 3: you know, staying a freelancer and building up your own profile. 429 00:18:18,760 --> 00:18:20,639 Speaker 4: I think for us the biggest thing was We've all 430 00:18:20,680 --> 00:18:23,520 Speaker 4: got very different strengths. So I've got a degree in 431 00:18:23,760 --> 00:18:27,639 Speaker 4: video production media production, but I'm not good at editing videos, 432 00:18:27,640 --> 00:18:29,399 Speaker 4: whereas one of the other guys I work with is 433 00:18:29,440 --> 00:18:32,920 Speaker 4: a gun video editor. And then side like, I'm really 434 00:18:32,960 --> 00:18:35,760 Speaker 4: good at photography, and some of the others like they 435 00:18:35,840 --> 00:18:37,760 Speaker 4: might not be as strong as photography. So we've all 436 00:18:37,840 --> 00:18:40,040 Speaker 4: kind of realized that we all feel each other, like 437 00:18:40,160 --> 00:18:42,200 Speaker 4: the gaps in our own skill set, we feel for 438 00:18:42,320 --> 00:18:44,760 Speaker 4: each other. So it just worked really well, Like from 439 00:18:44,800 --> 00:18:48,600 Speaker 4: the start, our first clients, it just works like we 440 00:18:48,640 --> 00:18:51,600 Speaker 4: worked really well on set together to film a commercial 441 00:18:52,480 --> 00:18:55,200 Speaker 4: and just kind of going from there. It's been pretty 442 00:18:55,200 --> 00:18:57,160 Speaker 4: thorough failing so far, so you kind of got. 443 00:18:57,080 --> 00:18:59,360 Speaker 3: To test the waters a little bit before going there. 444 00:18:59,640 --> 00:19:01,920 Speaker 3: We Relicia business smart. 445 00:19:02,200 --> 00:19:03,600 Speaker 1: Yeah, yeah, it. 446 00:19:03,600 --> 00:19:06,240 Speaker 2: Must have been so exciting. So I've worked as a 447 00:19:06,240 --> 00:19:08,239 Speaker 2: freelancer as well. I'm sure that most people that are 448 00:19:08,240 --> 00:19:11,520 Speaker 2: listening have, and not only is it super exciting when 449 00:19:11,560 --> 00:19:13,680 Speaker 2: you get jobs, but like when you start getting those 450 00:19:13,720 --> 00:19:16,200 Speaker 2: clients where you know they call you every year because 451 00:19:16,200 --> 00:19:18,920 Speaker 2: they've got an event on or whatever. So it must 452 00:19:18,920 --> 00:19:22,399 Speaker 2: have been so exciting for you guys to land that 453 00:19:22,440 --> 00:19:25,120 Speaker 2: first client, Like it must have just felt amazing. 454 00:19:26,119 --> 00:19:28,320 Speaker 4: Yeah, it was awesome, and it was like it was 455 00:19:28,320 --> 00:19:30,199 Speaker 4: at a beach near around near our houses, so it 456 00:19:30,280 --> 00:19:33,600 Speaker 4: was just a fun day in the sun. Also commercials, 457 00:19:33,680 --> 00:19:36,359 Speaker 4: so it was really really good awesome. 458 00:19:36,760 --> 00:19:39,520 Speaker 2: So I know that before you said that you really 459 00:19:39,560 --> 00:19:42,639 Speaker 2: want to strengthen your skills at budgeting and you know, 460 00:19:42,800 --> 00:19:45,479 Speaker 2: organizing your cash flow and stuff like that. Do you 461 00:19:45,520 --> 00:19:47,800 Speaker 2: guys do all of the money side of things for 462 00:19:47,840 --> 00:19:50,240 Speaker 2: your business as well, or is that something where you're like, oh, 463 00:19:50,240 --> 00:19:53,440 Speaker 2: I could definitely sharpen up for the business and personally. 464 00:19:54,440 --> 00:19:57,679 Speaker 4: Definitely could use a bit of working brecarious in my 465 00:19:57,720 --> 00:20:00,159 Speaker 4: life at the moment. But at the moment BECAU, they 466 00:20:00,200 --> 00:20:02,680 Speaker 4: are still so new and so small as a business. 467 00:20:02,760 --> 00:20:05,120 Speaker 4: Everything we're earning is going straight back into the business, 468 00:20:05,200 --> 00:20:07,480 Speaker 4: so it's not good to having to worry about like 469 00:20:07,480 --> 00:20:09,600 Speaker 4: trying to pay salaries and stuff just yet in terms 470 00:20:09,640 --> 00:20:12,560 Speaker 4: of the business side. But I think budgeting could be 471 00:20:12,600 --> 00:20:15,560 Speaker 4: something we could all definitely work on in that business. 472 00:20:15,600 --> 00:20:16,040 Speaker 4: As well. 473 00:20:16,200 --> 00:20:18,719 Speaker 2: It just seems so simple, but like it makes so 474 00:20:18,800 --> 00:20:22,480 Speaker 2: much of a difference, just that that mental load of going, oh, yeah, 475 00:20:22,480 --> 00:20:24,760 Speaker 2: I do have to transfer money over or no, I 476 00:20:24,920 --> 00:20:27,119 Speaker 2: actually know that there's going to be enough money in 477 00:20:27,160 --> 00:20:28,919 Speaker 2: there when I have to pay my retule or whatever. 478 00:20:30,040 --> 00:20:33,359 Speaker 3: Yeah, I'm more pervy when it comes to money and 479 00:20:33,440 --> 00:20:36,280 Speaker 3: businesses because I know it can be a point of 480 00:20:36,400 --> 00:20:39,280 Speaker 3: contention for a lot of small businesses. Like if I 481 00:20:39,320 --> 00:20:41,359 Speaker 3: had a business with you, Tony, and we were putting 482 00:20:41,400 --> 00:20:43,720 Speaker 3: everything back into the business, Like, at what point do 483 00:20:43,800 --> 00:20:47,119 Speaker 3: we take a salary and how do we pay that? Like, so, 484 00:20:47,240 --> 00:20:49,919 Speaker 3: do you guys have a plan for that? Like are 485 00:20:49,920 --> 00:20:52,280 Speaker 3: you going to at some point all take salaries and 486 00:20:52,280 --> 00:20:54,760 Speaker 3: if so, will they be equal? And at what point 487 00:20:54,800 --> 00:20:55,639 Speaker 3: is that going to happen. 488 00:20:56,880 --> 00:20:58,720 Speaker 4: We've had a couple of conversations about it. We still 489 00:20:58,720 --> 00:21:01,640 Speaker 4: haven't really figured out exactly when that. We've said we're 490 00:21:01,640 --> 00:21:04,280 Speaker 4: going to go the first twelve months putting everything straight 491 00:21:04,280 --> 00:21:06,520 Speaker 4: into the company, and then from there we'll sit down 492 00:21:06,520 --> 00:21:08,840 Speaker 4: and kind of figure out, well, I'm working full time 493 00:21:08,880 --> 00:21:13,119 Speaker 4: on this company, so I'll take a certain salary, and 494 00:21:13,160 --> 00:21:15,199 Speaker 4: then one of the other guys, for example, might be 495 00:21:15,240 --> 00:21:17,200 Speaker 4: working like three US a week on it. He'll take 496 00:21:17,520 --> 00:21:19,760 Speaker 4: like a pro rated rate. So that's like how much 497 00:21:19,760 --> 00:21:20,879 Speaker 4: worky that was on the company. 498 00:21:21,040 --> 00:21:22,080 Speaker 3: Yeah, that's quite cool. 499 00:21:22,080 --> 00:21:24,920 Speaker 4: So you've got to go to hear that is very 500 00:21:25,000 --> 00:21:25,440 Speaker 4: very rough. 501 00:21:25,880 --> 00:21:28,639 Speaker 2: Yes, it's awesome that you guys have been so open 502 00:21:28,640 --> 00:21:32,359 Speaker 2: about your finances, which is something we spoke in the 503 00:21:32,359 --> 00:21:33,880 Speaker 2: shoes on the money to be a lot. 504 00:21:34,000 --> 00:21:36,560 Speaker 3: Would you be open about that, to talk. 505 00:21:36,440 --> 00:21:39,280 Speaker 2: About your finances, and you know, especially with a few 506 00:21:39,320 --> 00:21:41,320 Speaker 2: mates and you're going into business, it's kind of one 507 00:21:41,320 --> 00:21:43,960 Speaker 2: of those things where it's like, oh, it'll all work out, guys, 508 00:21:44,080 --> 00:21:46,000 Speaker 2: we'll figure it out when we get Yeah, but I 509 00:21:46,040 --> 00:21:48,159 Speaker 2: love that you guys have actually talked about it, and 510 00:21:48,200 --> 00:21:50,439 Speaker 2: I feel like Victoria will maybe expect I know that 511 00:21:50,480 --> 00:21:52,480 Speaker 2: I was expecting you to go, oh, we're just going 512 00:21:52,560 --> 00:21:54,320 Speaker 2: to figure it out, but you've actually talked about which 513 00:21:54,320 --> 00:21:54,840 Speaker 2: is awesome. 514 00:21:55,280 --> 00:21:57,680 Speaker 3: Well, it was kind of like, oh, how's this going 515 00:21:57,720 --> 00:22:00,680 Speaker 3: to go when it came to setting up for business, 516 00:22:00,720 --> 00:22:04,240 Speaker 3: like nobody knows where to start. Who did that? How 517 00:22:04,240 --> 00:22:06,080 Speaker 3: did they do that? What were the steps that you 518 00:22:06,119 --> 00:22:10,080 Speaker 3: guys talk to I guess establishing an official business instead 519 00:22:10,080 --> 00:22:11,800 Speaker 3: of just saying, hey, Tony, you do want to work 520 00:22:11,800 --> 00:22:12,000 Speaker 3: with me? 521 00:22:12,200 --> 00:22:13,679 Speaker 2: Yeah, like what do you do after that? 522 00:22:13,840 --> 00:22:15,879 Speaker 3: Like what were your steps? Obviously I do know, but 523 00:22:15,920 --> 00:22:16,359 Speaker 3: I want. 524 00:22:16,240 --> 00:22:18,840 Speaker 4: So we're actually really lucky that we're really lucky. One 525 00:22:18,880 --> 00:22:21,640 Speaker 4: of the guys that we work with, his dad has 526 00:22:21,640 --> 00:22:24,959 Speaker 4: a more business so his dad was kind of mentoring 527 00:22:25,080 --> 00:22:27,600 Speaker 4: us all with the whole how to register for a 528 00:22:27,640 --> 00:22:30,560 Speaker 4: business like an ABN how to your business name with 529 00:22:30,720 --> 00:22:33,879 Speaker 4: the registry. And I'm not the business side. I'm not 530 00:22:33,920 --> 00:22:36,840 Speaker 4: across the business side of it all. But yeah, the 531 00:22:36,840 --> 00:22:39,199 Speaker 4: boys have been really good talking to the dad and 532 00:22:39,240 --> 00:22:41,639 Speaker 4: trying to figure out, like what we need to do. 533 00:22:41,760 --> 00:22:44,440 Speaker 4: We do it legally, so we're not kind of skipping stuff. 534 00:22:44,440 --> 00:22:46,399 Speaker 4: And I remember one of your Business Bible episodes he 535 00:22:46,440 --> 00:22:48,600 Speaker 4: said to register the DSP at the start, so then 536 00:22:48,720 --> 00:22:54,000 Speaker 4: clients don't see that you're earning less than seventy five thousand. Yeah, 537 00:22:54,480 --> 00:22:58,639 Speaker 4: so I made sure the boys did. That's been running 538 00:22:58,640 --> 00:22:59,520 Speaker 4: fal you already. 539 00:22:59,560 --> 00:23:01,560 Speaker 3: You do know what you're talking about. I was about 540 00:23:01,600 --> 00:23:03,639 Speaker 3: to be like, oh, yeah, and totally you listen to 541 00:23:03,680 --> 00:23:08,440 Speaker 3: the Business Bible obviously, but I don't know. I really 542 00:23:08,480 --> 00:23:10,679 Speaker 3: liked that episode actually because I wanted to be like, 543 00:23:10,760 --> 00:23:14,160 Speaker 3: this is what I do and obviously it's not advice, 544 00:23:14,240 --> 00:23:16,680 Speaker 3: it's just more I did it for these reasons because 545 00:23:16,760 --> 00:23:20,240 Speaker 3: when you start off as a small business, you kind 546 00:23:20,240 --> 00:23:22,919 Speaker 3: of feel a little bit self conscious that people know 547 00:23:23,119 --> 00:23:25,439 Speaker 3: like that maybe they're one of your very first clients 548 00:23:25,480 --> 00:23:27,680 Speaker 3: and you're trying to impress them. It's just a way 549 00:23:27,720 --> 00:23:30,120 Speaker 3: to make you feel a little bit more confident because 550 00:23:30,119 --> 00:23:33,560 Speaker 3: they'll see that and go oh, like they're legit, and like, 551 00:23:33,600 --> 00:23:36,119 Speaker 3: I know, it's it's not lying, it's not fake. Like 552 00:23:36,200 --> 00:23:38,119 Speaker 3: it's actually really good to set that up at the 553 00:23:38,160 --> 00:23:41,200 Speaker 3: start and set the expectation with your client as well. 554 00:23:41,200 --> 00:23:44,879 Speaker 3: Because GST, which is goods and services tax, is ten percent. 555 00:23:45,200 --> 00:23:47,000 Speaker 3: And if you then at some point then say to 556 00:23:47,000 --> 00:23:48,879 Speaker 3: your client like, oh, hey, Tony, like I know it 557 00:23:48,880 --> 00:23:51,800 Speaker 3: was one hundred dollars, but next invoice is actually going 558 00:23:51,840 --> 00:23:54,159 Speaker 3: to be one hundred and ten, you vocally have to 559 00:23:54,160 --> 00:23:55,560 Speaker 3: go to your client and be like, cool, I'm now 560 00:23:55,560 --> 00:23:58,359 Speaker 3: earning more than seventy five grand. And that can happen 561 00:23:58,560 --> 00:24:01,280 Speaker 3: really quickly for some business and it can take a 562 00:24:01,320 --> 00:24:04,240 Speaker 3: really long time for some small businesses. And like sometimes 563 00:24:04,280 --> 00:24:06,639 Speaker 3: it just feels real awkward going to a client that 564 00:24:06,680 --> 00:24:08,560 Speaker 3: you weren't with it for two years and be like, oh, 565 00:24:08,600 --> 00:24:10,919 Speaker 3: I've finally gotten over seventy five grand, which is so 566 00:24:11,119 --> 00:24:13,440 Speaker 3: exciting for you. But at the same time, you don't 567 00:24:13,440 --> 00:24:16,199 Speaker 3: want to have to have that conversation with client to 568 00:24:16,240 --> 00:24:18,560 Speaker 3: be like, oh, I'm charging more and I've worked with 569 00:24:18,600 --> 00:24:20,960 Speaker 3: freelances historically who has said that to me? And I'd 570 00:24:21,000 --> 00:24:23,600 Speaker 3: be like, oh my god, yes, queen, like you are 571 00:24:23,640 --> 00:24:26,520 Speaker 3: now killing it. Yeah, but you know, I know that 572 00:24:26,640 --> 00:24:28,439 Speaker 3: for them it was kind of awkward because they were like, 573 00:24:28,440 --> 00:24:31,080 Speaker 3: it's going to cost you more, and like for a business, 574 00:24:31,119 --> 00:24:33,720 Speaker 3: it's left pocket, right pocket, Like if I am a 575 00:24:33,760 --> 00:24:36,560 Speaker 3: business paying invoices, I'm actually receiving it and it all 576 00:24:36,600 --> 00:24:38,880 Speaker 3: works out in the end. But it's one of those 577 00:24:38,920 --> 00:24:41,080 Speaker 3: things that just feels a bit awkward and if you 578 00:24:41,119 --> 00:24:42,280 Speaker 3: can avoid it, why not. 579 00:24:42,640 --> 00:24:44,719 Speaker 2: Yeah, for sure, exactly. Yeah. 580 00:24:44,760 --> 00:24:48,200 Speaker 3: So what would be your biggest money tip for anyone 581 00:24:48,359 --> 00:24:50,120 Speaker 3: wanting to start a small business? 582 00:24:51,440 --> 00:24:57,679 Speaker 4: Ooh, that's tricky. I think be realistic with the money goals, 583 00:24:57,960 --> 00:25:00,840 Speaker 4: Like I would love to have been able to afford 584 00:25:01,040 --> 00:25:03,879 Speaker 4: to actually continue my lifestyle that I had pre quitting 585 00:25:03,880 --> 00:25:05,760 Speaker 4: my full time job. Once I quit it and was 586 00:25:05,800 --> 00:25:07,840 Speaker 4: doing the start hustle, so I had do you really 587 00:25:07,840 --> 00:25:10,439 Speaker 4: realistic and say that I can't afford to go to 588 00:25:10,440 --> 00:25:12,040 Speaker 4: dinner every week if I want to go to dinner 589 00:25:12,119 --> 00:25:15,480 Speaker 4: right now because I don't have as much money coming 590 00:25:15,520 --> 00:25:16,920 Speaker 4: in as I used to at a full time job, 591 00:25:18,040 --> 00:25:20,520 Speaker 4: and kind of being realistic that you do have to 592 00:25:20,560 --> 00:25:22,480 Speaker 4: spend money to make money in a small business. You 593 00:25:22,480 --> 00:25:25,239 Speaker 4: do have to do things like your website and all 594 00:25:25,240 --> 00:25:26,240 Speaker 4: the little things. 595 00:25:26,040 --> 00:25:29,040 Speaker 3: Do add up. Yeah, but that's a really good one 596 00:25:29,160 --> 00:25:32,840 Speaker 3: for the long run. Yeah, that's awesome. It's actually really realistic. Yeah, 597 00:25:32,880 --> 00:25:35,399 Speaker 3: like so many people want to be and it's not 598 00:25:35,440 --> 00:25:37,480 Speaker 3: a bad thing to just be like, oh, inspirational, take 599 00:25:37,480 --> 00:25:39,520 Speaker 3: the jump. It's kind of like, well, actually work out 600 00:25:39,720 --> 00:25:42,840 Speaker 3: what that's going to look like for you and be realistic. 601 00:25:42,960 --> 00:25:46,520 Speaker 2: Yeah. Yeah, and if you can cop the lifestyle change 602 00:25:46,680 --> 00:25:49,440 Speaker 2: or not, you know, because if I left my full 603 00:25:49,480 --> 00:25:51,720 Speaker 2: time job here with cheese on the money started of 604 00:25:52,040 --> 00:25:54,159 Speaker 2: you know, my own business, it would be pretty different. 605 00:25:54,280 --> 00:25:56,920 Speaker 3: So yeah, I actually really love that tip. I feel 606 00:25:56,920 --> 00:25:59,560 Speaker 3: like it's really relatable and actually something we can all adopt, 607 00:25:59,640 --> 00:26:02,200 Speaker 3: Like you can start planning for a small business before 608 00:26:02,240 --> 00:26:04,199 Speaker 3: it starts, Like I think so many people think that 609 00:26:04,240 --> 00:26:06,240 Speaker 3: they have to take the plunge, quit their job and 610 00:26:06,240 --> 00:26:09,560 Speaker 3: their gure out, like have the entire game plan and 611 00:26:09,680 --> 00:26:12,680 Speaker 3: what that looks like financially, and like even just where 612 00:26:12,680 --> 00:26:14,560 Speaker 3: are you going to work from? Make the entire plan 613 00:26:14,600 --> 00:26:16,920 Speaker 3: before you take the plunge, so you know what to expect. 614 00:26:17,720 --> 00:26:18,400 Speaker 4: Yeah, definitely. 615 00:26:18,600 --> 00:26:21,359 Speaker 3: Yeah, as always, I do think that's all we have 616 00:26:21,520 --> 00:26:22,520 Speaker 3: time for today. 617 00:26:22,800 --> 00:26:25,240 Speaker 2: But thank you so much money Darus. It's been amazing 618 00:26:25,280 --> 00:26:27,640 Speaker 2: chatting to you and having you share your your little 619 00:26:27,680 --> 00:26:29,119 Speaker 2: tips and trips for small business. 620 00:26:30,240 --> 00:26:31,960 Speaker 3: Thank you so much for having me go and hearing 621 00:26:31,960 --> 00:26:33,119 Speaker 3: how much of a ball issues. 622 00:26:33,359 --> 00:26:36,919 Speaker 2: Yeah, thank you so much. 623 00:26:37,160 --> 00:26:39,680 Speaker 3: And just before we head off, we'd like to acknowledge 624 00:26:39,680 --> 00:26:43,520 Speaker 3: and pay respect to Australia's Aboriginal and Torres Strait Islander people's. 625 00:26:43,800 --> 00:26:46,919 Speaker 3: They're the traditional custodians of the lands, the waterways and 626 00:26:46,960 --> 00:26:50,399 Speaker 3: the skies all across Australia. We thank you for sharing 627 00:26:50,440 --> 00:26:52,200 Speaker 3: and for caring for the land on which we are 628 00:26:52,240 --> 00:26:54,960 Speaker 3: able to learn. We pay our respects to elders past 629 00:26:55,080 --> 00:26:58,040 Speaker 3: and present, and we share our friendship and our kindness. 630 00:26:58,400 --> 00:27:00,760 Speaker 2: The advice shared on Shees on the Money is generally 631 00:27:00,840 --> 00:27:04,560 Speaker 2: nature and does not consider your individual circumstances. She's on 632 00:27:04,600 --> 00:27:07,760 Speaker 2: the Money exists purely for educational purposes and should not 633 00:27:07,800 --> 00:27:10,840 Speaker 2: be relied upon to make an investment or any financial decision. 634 00:27:11,359 --> 00:27:14,960 Speaker 2: And I promise that Victoria Divine is an authorized representative 635 00:27:15,000 --> 00:27:19,120 Speaker 2: of Australia Pacific Funds Management Proprietary Limited ABN three four 636 00:27:19,160 --> 00:27:22,360 Speaker 2: one three two four six three two five seven AFSL 637 00:27:22,440 --> 00:27:24,200 Speaker 2: three three nine one five one. 638 00:27:24,359 --> 00:27:26,640 Speaker 3: And well, what were you going to say, were gonna 639 00:27:26,680 --> 00:27:26,960 Speaker 3: be good? 640 00:27:27,080 --> 00:27:28,720 Speaker 2: No, it wasn't. Actually, I was going to say, do 641 00:27:28,720 --> 00:27:30,720 Speaker 2: you reckon? The people that listen to the disclaimer every 642 00:27:30,760 --> 00:27:32,399 Speaker 2: week know all those numbers off by heart? 643 00:27:32,480 --> 00:27:34,360 Speaker 3: I'd like to hear it. If you know them all 644 00:27:34,400 --> 00:27:36,680 Speaker 3: off by heart, send us your voice memos and we'll 645 00:27:36,680 --> 00:27:39,600 Speaker 3: start editing them into the podcast. You can do our 646 00:27:39,600 --> 00:27:40,800 Speaker 3: disclaimer for us perfect. 647 00:27:40,800 --> 00:27:42,040 Speaker 2: I mean, that's a lot of work for me. 648 00:27:42,200 --> 00:27:43,000 Speaker 3: That's not my problem. 649 00:27:43,000 --> 00:27:53,200 Speaker 2: But okay, great, see next week, guys,