Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yr
Speaker 1: the Order, Kernie Whoalbury and a waddery woman. And before
Speaker 1: we get started on She's on the Money podcast, I
Speaker 1: would like to acknowledge the traditional custodians of the land
Speaker 1: of which this podcast is recorded on a wondery country,
Speaker 1: acknowledging the elders, the ancestors and the next generation coming
Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing
Speaker 1: and the storytelling of you to make a difference for
Speaker 1: today and lasting impact for tomorrow.
Speaker 2: Let's get into it.
Speaker 3: She's on the Money. She's on the Money.
Speaker 4: Hello, and welcome to She's on the mo the podcast
Speaker 4: for millennials who want financial freedom Today, my friends, is
Speaker 4: Friday again comes around every week so strange, which means
Speaker 4: it is time to sit back with the girls with
Speaker 4: a bev in hand, to unpack the week that was,
Speaker 4: and of course to celebrate you how incredible She's on
Speaker 4: the Money community. As always, we're going to be sharing
Speaker 4: our favorite money wins or Georgia King will be. We
Speaker 4: never contribute anything, do we, Jess. We're going to be
Speaker 4: discussing what's making news in the finance world, and we
Speaker 4: are going to be answering a juicy money question, which
Speaker 4: this week is very self indulgent. I mean, I didn't
Speaker 4: ask the question, but I'm very happy to answer. It's
Speaker 4: about my budgeting cash flow system and how all of
Speaker 4: the different bank accounts work and fit together, which I
Speaker 4: cannot wait to dive into.
Speaker 2: But before we.
Speaker 4: Get their, miss Jessicarichi, tell us what happened on our
Speaker 4: Monday's Money.
Speaker 2: Diary this week.
Speaker 3: We had a beautiful multi mother of two who worked
Speaker 3: in emergency services and she had an egg donor.
Speaker 4: An actual queen, and it was a really.
Speaker 3: Unique situation because she spoke about this couple who put
Speaker 3: a call out online trying to find a donor because
Speaker 3: they wanted someone who.
Speaker 2: Had the same heritage.
Speaker 3: Yeah, exactly right, like they wanted, I guess for their
Speaker 3: family to follow that lineage in a sense. And she
Speaker 3: reached out because she fit the description of what they
Speaker 3: were looking for. And she developed this relationship with this
Speaker 3: couple and she you know, had their child and they're
Speaker 3: still in contact and it was such an it made
Speaker 3: my heart so happy. Oh my god, it was really
Speaker 3: really special. And the way she spoke about it. She
Speaker 3: was so passionate about giving a family an opportunity to
Speaker 3: have a child that they couldn't have by themselves. And
Speaker 3: she was really open, and to be honest, I didn't
Speaker 3: know a lot about any of the egg donor or
Speaker 3: like any of that process, and she was really happy
Speaker 3: to share what it was like and how that worked financially,
Speaker 3: and we.
Speaker 4: Asked a lot of really intimate questions and she's so
Speaker 4: grateful for But you know, this whole week, I've just
Speaker 4: been thinking like, oh my gosh, Like there was this
Speaker 4: gay couple who weren't sure if they could have a
Speaker 4: baby worked out the process and them were like, oh,
Speaker 4: we just don't know. Like we've worked out how we
Speaker 4: go through the process. We've found someone who can be
Speaker 4: the surrogate, but is any way we can intertwine our
Speaker 4: heritage into this. They put this call out out and
Speaker 4: had her reply and she was like the perfect match
Speaker 4: for them, And so now they have babies and they
Speaker 4: can have another one. They have babies with the same
Speaker 4: heritage as they have, And I just think that is
Speaker 4: so beautiful because that's a reality that a lot of
Speaker 4: people in our community who are in those circumstances can't get.
Speaker 3: And it was really cool that they had a relationship
Speaker 3: because obviously when you do egg donorship, you're not always
Speaker 3: in the picture. So it was I felt like a
Speaker 3: really unique take and I was.
Speaker 2: Yeah, I just didn't know there was so much to
Speaker 2: it either.
Speaker 4: I didn't realize that when you go, all right, I'm
Speaker 4: going to donate an egg, there were like open egg
Speaker 4: donations and closed eg donation.
Speaker 2: It was very much like adoption in a.
Speaker 4: Way, and I just I hadn't ever thought about the
Speaker 4: semantics of that, and I was just like, this is
Speaker 4: such a cool process. The most interesting question though, I
Speaker 4: was like, oh my gosh, how you met the child?
Speaker 4: Like how did you feel? And she was like she
Speaker 4: was just another really special girl.
Speaker 3: Like I just I love it anyway, really cool, really
Speaker 3: really unique.
Speaker 1: One.
Speaker 4: Yeah, epic money story, but from one epic money story
Speaker 4: straight into our epic Wednesday deep dive Georgia King.
Speaker 2: What did we cover this week?
Speaker 5: We went really deep into the subject of financial trauma.
Speaker 5: So that's characterized as a dysfunctional reaction to chronic financial stress.
Speaker 5: So we went through exactly what it is, what it
Speaker 5: looks like. We learned that it's actually very similar in
Speaker 5: its indicators to what people with post traumatic stress experience. Like,
Speaker 5: it's a very serious thing, and we kind of spoke
Speaker 5: about how the term trauma is often kind of used
Speaker 5: a bit frivolously in twenty twenty two, but financial trauma
Speaker 5: is a very real thing, and we have seen this
Speaker 5: week so many dms of people that have really resonated
Speaker 5: with this topic, which we didn't expect. So yeah, if
Speaker 5: you think that that's something that you may struggle with,
Speaker 5: definitely have a I.
Speaker 4: Was really worried about this episode coming up because sometimes
Speaker 4: topics like this can be really confronting. Yeah, it's kind
Speaker 4: of like, hey, gee, here's this episode and she's on
Speaker 4: the money, and you might have you know, been happy
Speaker 4: listening to content and not really thought about it, and
Speaker 4: then you're confronted with all these indicators that you really
Speaker 4: align with and you're like, oh my gosh, I didn't
Speaker 4: realize that I've actually been through this and this is
Speaker 4: the thing negatively impacting me. It can actually raise, you know,
Speaker 4: a fair bit of trauma, which obviously we provided some
Speaker 4: financial counseling resources for that.
Speaker 2: But I think the best thing you can do is
Speaker 2: actually just talk about it. Talk about it.
Speaker 4: With someone, reach out to our Debt Free Helpline for
Speaker 4: some free financial counseling. If you're in that circumstance, reach
Speaker 4: out to a therapist, talk to your GP. I just
Speaker 4: think that there are so many conversations to be had,
Speaker 4: but thankfully, if you've been able to identify it, we
Speaker 4: can work on it. And that's a really great outcome
Speaker 4: for anyone who found themselves in that position this week.
Speaker 2: So love you.
Speaker 5: Guys one hundred percent.
Speaker 4: All right, Georgia King, I think it is time to
Speaker 4: pivot into some lighter content now. I want to know
Speaker 4: what are our budget Direct money wins this week.
Speaker 5: Well, we've got some goodies, ladies. The first one of
Speaker 5: the week comes from Alex money Win. I was looking
Speaker 5: at accommodation in London for Christmas and New Year's for
Speaker 5: about three thousand.
Speaker 4: Dollars London, so expensive, getcha.
Speaker 5: I ended up downloading an app and I found a
Speaker 5: house sitting gig in the same locations in the same
Speaker 5: time frame for free, for free. It is a hot,
Speaker 5: gosh genius smart for Christmas and New Year's because so
Speaker 5: many people are going to be away.
Speaker 2: House sitting gigs.
Speaker 4: I wouldn't have even considered looking for a house sitting gig.
Speaker 2: If I was traveling.
Speaker 3: We spoke about pet sitting we did a few weeks ago,
Speaker 3: and house sitting, I would argue, is like even better.
Speaker 2: House sitting is Do you reckon it?
Speaker 4: Can start planning my holidays around random locations in the
Speaker 4: world that people need their houses. Do you know what
Speaker 4: I would travel for a pet Mike? If you said, hey,
Speaker 4: I live in Italy. These are my random dates of leave.
Speaker 4: Can you please come look after my dog? Probably be
Speaker 4: there with absolutely What a joy. The next week comes
Speaker 4: from aerin. After having a credit card for twenty years,
Speaker 4: I finally paid it off and cut it to.
Speaker 2: Shrinks yees, twenty years, What a queen? How good?
Speaker 5: The next win comes from Anna money win. Okay, it's
Speaker 5: a bit of a long one strap.
Speaker 2: Ready, We're ready, money win.
Speaker 5: I dye my hair with a supermarket hair dye. I
Speaker 5: always checked the reduced section at the supermarket and I
Speaker 5: happened to find the hair dye that I buy a
Speaker 5: few days ago. It had that very tasty price of
Speaker 5: five dollars.
Speaker 2: Money win.
Speaker 5: Then I went to the self checkout to see it
Speaker 5: scan for over eleven dollars. I stood there thinking, do
Speaker 5: I just suck it up pay that amount, or do
Speaker 5: I get a staff member to come over and change
Speaker 5: the price. As I grabbed three packets, it would have
Speaker 5: been over eighteen dollars extra then the advertised reduced price.
Speaker 5: So I called over a staffer and she asked the price.
Speaker 5: I replied five dollars something, and she said, how does
Speaker 5: five dollars for the lot sound?
Speaker 2: So money?
Speaker 6: It was?
Speaker 5: It was definitely worth it. Well done to you, Anna.
Speaker 5: The next wind comes from Caitlin money Win. I'm moving
Speaker 5: in with my boyfriend and when I called to move
Speaker 5: my current insurance, I got a five hundred and seventy
Speaker 5: dollars refund money win straight into the car account for
Speaker 5: next year's renewal. Would that be because maybe the parking's
Speaker 5: not on street or something like that.
Speaker 2: Risk.
Speaker 4: Yeah, and different postcodes have different like risk associated with them,
Speaker 4: and the closer you are to the city, the more
Speaker 4: likely you are to have a higher risk profile and
Speaker 4: therefore more insurance to pay, which means that my parents
Speaker 4: have really good insurance and I kind of want to
Speaker 4: move home just for that. Yeah.
Speaker 5: The next week it comes from Luara money. When I
Speaker 5: was walking down at the food court in the shopping
Speaker 5: mall with my husband and I saw fifty dollars laying
Speaker 5: on the floor. My husband a trap stuck to a
Speaker 5: bit of fishing.
Speaker 2: Line, someone pulling it along along the floor.
Speaker 5: My husband picked it up and asked the people around
Speaker 5: if someone had dropped it. None of them had. In fact,
Speaker 5: they said, you found it, it's.
Speaker 2: Yours, signers, keepers.
Speaker 5: Losers, weepers. Indeed, so she's fifty dollars richerut. While walking
Speaker 5: around the mall. On that note, ladies, I saw a
Speaker 5: one dollar coin.
Speaker 2: Was it super glued to the ground.
Speaker 5: I didn't pick it up, and I was like, you
Speaker 5: have grown up, George, because I felt like a tight ass.
Speaker 3: I don't care how old.
Speaker 4: But I also think it's really sweet. I think it's
Speaker 4: like passing on the lock to somebody else that makes
Speaker 4: really sweet. It's also this whole conversation about finding money
Speaker 4: on the ground reminds me of the boys I went
Speaker 4: to school with. I remember in grade eleven in the
Speaker 4: lock area, the boys with super glued two dollar coins
Speaker 4: to the ground, like people try and pick it up
Speaker 4: and then like make fun of them. Bullying has progressed
Speaker 4: since then.
Speaker 5: It seems brilliant that takes us to the last win
Speaker 5: slash loss of the day. It comes from Gen money loss.
Speaker 2: This is so good.
Speaker 5: I got drunk on a fourteen hour flight from Melbourne
Speaker 5: to Dubai and I paid two point seven k for
Speaker 5: an upgrade to business Harris money win. I'm now extremely
Speaker 5: motivated to actually be able to afford to fly business class.
Speaker 2: Can you imagine?
Speaker 4: And it's funny because she would have been having the
Speaker 4: time of her life dreams on the plane. They're free,
Speaker 4: absolutely like having a whole other.
Speaker 2: Time to then upgrade and then when you're sober, up it.
Speaker 4: But you're like, hookie, error, I've made a horrible flight
Speaker 4: from Dubai.
Speaker 3: Parents would have thought you would have wanted to have
Speaker 3: done it in Australia.
Speaker 2: How it goes into it? Is it ten hours?
Speaker 4: It's a long time. It's definitely a long time. So
Speaker 4: it would have been an expensive flight. Just she was
Speaker 4: living our dreams. We flew to America recently and we
Speaker 4: were like, oh, maybe we treat ourselves.
Speaker 2: It is a business trip.
Speaker 4: We'll see how much more expensive.
Speaker 2: It is here we are.
Speaker 4: Turns out we had rocks in our heads because we're like, okay,
Speaker 4: it's a pretty going to be expensive right, because we
Speaker 4: were booking last minute flights to the US, which is
Speaker 4: entirely my fault because I had left it so late.
Speaker 4: So our flights each were like two and a half
Speaker 4: nearly three thousand dollars each return to LA which is disgusting.
Speaker 4: But we went to a finance conference and hopefully we've
Speaker 4: brought home this newfound knowledge, which is and she's on
Speaker 4: the money. Were actually it's not that much more to
Speaker 4: fly business like. We're already nearly three thousand dollars deep
Speaker 4: each at this point, and by each, I mean six
Speaker 4: thousand dollars deep, because I'm the business owner.
Speaker 2: Okay for this, Yeah.
Speaker 4: For ten thousand dollars a flight, I think not rastus.
Speaker 4: You will sit in an economy class and you will enjoy.
Speaker 2: It, that's all right.
Speaker 3: I invested in a lot of like plane lutch, like
Speaker 3: a foot hammock, and like a feel yes, which is
Speaker 3: basically business class.
Speaker 5: It was that ten thousand, exactly ten thousand dollars pertic.
Speaker 4: It was I think it was like thirteen thousand per
Speaker 4: ticket to the US, and if you want to fly first,
Speaker 4: that was like twenty six thousand dollars.
Speaker 2: And I nearly was sick.
Speaker 4: I thought it was a joke at the start, and
Speaker 4: then I was like, noh, yes, it's fine, because that
Speaker 4: must be our tickets combined.
Speaker 2: It wasn't. It was eually.
Speaker 4: So yeah, we bought foot Hammocks on Amazon Primo. Basically
Speaker 4: a business class experience.
Speaker 5: That is all for the Wins today.
Speaker 4: Lady speaking as always, it has been great celebrating some
Speaker 4: of your budget Direct money wins. Budget Direct winner can
Speaker 4: Star's Insurer of the Year Award twenty twenty to the
Speaker 4: fancy guys Budget Direct Insurance solved. Let's go to a
Speaker 4: really quick break and after the break we are going
Speaker 4: to be talking about the budget and cash flow masterclass
Speaker 4: and the bank accounts associated with that, and we also
Speaker 4: have some juicy news to share with you guys. Don't
Speaker 4: go anywhere. Okay, gals, we did it again. Recently, we
Speaker 4: pissed off some people on Instagram.
Speaker 2: Was it me to pay?
Speaker 3: No, it wasn't. After pay. We were talking about equal
Speaker 3: pay because it's Equal Pay Day a couple of weeks ago,
Speaker 3: and the conversation is still going on in our dams.
Speaker 3: So the day that we posted it, so this would
Speaker 3: have been two weeks weeks ago. Yeah, but the day
Speaker 3: that we posted it it was the sixtieth day after
Speaker 3: the end of the financial yarch. It is on that
Speaker 3: day because it's representative of the sixty extra days that
Speaker 3: women must work on average in Australia to earn the
Speaker 3: same annual salary the'se earned by men, So women are
Speaker 3: under earning. Essentially, women I have to work sixty more days,
Speaker 3: one four hundred and forty more hours or eighty six thousand,
Speaker 3: four hundred more minutes to earn the same amount as
Speaker 3: a man. And the bad news is that the pay
Speaker 3: gap this year went up. Last year went down. We
Speaker 3: were like, yes, pro pross, we love progress, not this year.
Speaker 3: So it actually went up zero point three percentage points
Speaker 3: over the last six months, which is really sad and kind.
Speaker 2: Of shitty to hear.
Speaker 3: And people are up in our dms telling me that
Speaker 3: the gender pay GAP's not real and that's really tough.
Speaker 3: But also I thought, good chance for us to kind
Speaker 3: of run over what can people do right because we've
Speaker 3: spoken about this before, We've spoken about the wage gap before,
Speaker 3: the pay gap before. I'm not even here to have
Speaker 3: the argument today about whether or not it's real because
Speaker 3: we've done it and it is, and if you don't
Speaker 3: like it, go to double away.
Speaker 4: It's actually very funny because over the last few weeks,
Speaker 4: I've been getting sent screen shots from people that follow
Speaker 4: me saying, Hey, here's a screenshot of someone replying to
Speaker 4: my story because shared your post that you put on
Speaker 4: cheese on the money. And they're like, oh, this doesn't exist,
Speaker 4: and they're just like block and delete, block and delete.
Speaker 4: And my one girl replied to me and was like, Hey,
Speaker 4: this is the guy that I've been going on dates with.
Speaker 2: More dates for you And I was like, yes, queen.
Speaker 3: That is if he doesn't believe in the gender pay
Speaker 3: gap red flag.
Speaker 4: Just ask if you're on a dating app, just go
Speaker 4: what do you think of the gender pay gap? That
Speaker 4: will tell you whether you should go on a date
Speaker 4: with them or not. Don't waste your time asking it on.
Speaker 2: A first date. Get it done up front. Genius one
Speaker 2: thousand percent.
Speaker 3: But the WGEO website, if you're a nonbeliever or if
Speaker 3: you know a non believer, send them there because it
Speaker 3: is a government website worth acknowledging. How that these stats
Speaker 3: also don't take into account or don't currently recognize, the
Speaker 3: even larger gap for women of color because we know
Speaker 3: that there is an even bigger disparity there, but we
Speaker 3: don't have the hard darted back it up, and it's
Speaker 3: something we would love to see more research into for
Speaker 3: our first nations women as well. Again, that gap is
Speaker 3: very broad. However, today VD I thought we could talk
Speaker 3: about tangible action we can take because I am so
Speaker 3: sick of seeing the p people saying it's not a thing,
Speaker 3: So I want to talk about what can we do
Speaker 3: to make a difference. Jess is sick of it, so
Speaker 3: we are dealing with it.
Speaker 2: I love it.
Speaker 4: There's a lot we can do about it, to be honest,
Speaker 4: But it's also about awareness and that's what days like
Speaker 4: Equal Payday bring to light, right, It's about bringing to
Speaker 4: light the fact that it exists. And it shouldn't just
Speaker 4: be our burden as women to carry because we earn less.
Speaker 4: It should be everybody's burden to carry, because at the
Speaker 4: end of the day, if it's happening in our society,
Speaker 4: it's a societal problem, not just a women's problem. So
Speaker 4: I think that education is key. I mean, I probably
Speaker 4: wouldn't get in DM arguments with people who don't believe
Speaker 4: in the gender pay gap because they don't deserve your
Speaker 4: explanation because it is very easy to google. I'm actually
Speaker 4: really sick of hearing it doesn't exist. Oh my gosh,
Speaker 4: you haven't included this stat or oh this chart you've
Speaker 4: posted doesn't include the fact that women take on less hours.
Speaker 4: It's actually not about that. It's the fact that women
Speaker 4: are still behind men. And what we want is not
Speaker 4: actually for women to be above and beyond men. I'm
Speaker 4: just asking for the exact same opportunities and to be
Speaker 4: paid this as a man would in exactly the same
Speaker 4: role if I have the same credentials and experience.
Speaker 3: Oh but it's a legal to do that, So, Jessica,
Speaker 3: people are still doing meth, aren't they.
Speaker 4: So it doesn't matter that it is illegal. It is
Speaker 4: still happening, and I think that we need to talk
Speaker 4: about it. We know the cause is let's not talk
Speaker 4: about it is now time for action. How do we
Speaker 4: work towards closing that gap? One education, talking about it too,
Speaker 4: being really open and honest about what we earn. Something
Speaker 4: that I've seen over the last few weeks is people
Speaker 4: talking about, oh, well, I shouldn't have to share my pay. Okay,
Speaker 4: mediocre middle aged white man who doesn't think that anyone
Speaker 4: should know what you earn because it's personal information. But
Speaker 4: do you know that could change the life of the
Speaker 4: woman that sits down the hallway from you. Do you
Speaker 4: know that that could put someone in a better position
Speaker 4: so that they're not homeless in retirement? Like I just
Speaker 4: think I know it exactly exactly, and I have so
Speaker 4: much respect for that. And if you genuinely think that
Speaker 4: your personal value is so tied to your income that
Speaker 4: hiding it is more important than putting other people in
Speaker 4: a better position, You've got rocks in your head in
Speaker 4: there is a far big issue at play. We're at
Speaker 4: the point where we know what's contributing to it and
Speaker 4: we need to actually action it. And you did a
Speaker 4: really great post the other day just on the She's
Speaker 4: on the Money page, and you talked about things like
Speaker 4: conducting a pay gap audit, developing an action plan, and
Speaker 4: establishing accountabilities, which sounds really formal if I'm honest, but
Speaker 4: talking about it. If you work in HR, bring this
Speaker 4: up as a conversation for your organization to be able
Speaker 4: to be champions in this space as opposed to just
Speaker 4: you know, people that follow the flow. If you want
Speaker 4: to talk to your friends if you want to talk
Speaker 4: to your colleagues about it. I think it is really important.
Speaker 4: Another thing I do, which wasn't on the list, check
Speaker 4: your contract. Do you have pay secrecy? Why does your
Speaker 4: company have pay secrecy? Something that I am strongly campaigning
Speaker 4: for is that that is removed from employment contracts because
Speaker 4: what are you hiding?
Speaker 2: Guys?
Speaker 4: Why shouldn't your employees talk about their salary?
Speaker 1: Oh?
Speaker 4: Because it impacts you and you might have to pay
Speaker 4: them all equally.
Speaker 2: That would be such a shame.
Speaker 4: The other thing that you said in here, Jess was
Speaker 4: set targets to promote gender equality at all levels of
Speaker 4: the organization, which.
Speaker 2: I think just should be. It's twenty twenty two, guys,
Speaker 2: why is this not happening.
Speaker 5: One hundred percent? Some more ideas, guys, include changing what
Speaker 5: leadership roles actually look like, so making them part time,
Speaker 5: making them more flexible so that women who might also
Speaker 5: be the primary carer in the home can actually work
Speaker 5: in those higher paid roles.
Speaker 4: But Georgia, that's why women don't get paid as much,
Speaker 4: because they have more caring responsibilities.
Speaker 5: I hate that so much. Unpaid we get out all
Speaker 5: the time.
Speaker 4: Yeah, we're actually doing double time. So like I go
Speaker 4: to work, I do my full time job. I don't personally,
Speaker 4: I'm not a mum yet. But a lot of women
Speaker 4: in our community go to work, they do their full
Speaker 4: time job, then they go home and do a full
Speaker 4: time job. Literally they do do more caring roles. But
Speaker 4: that doesn't mean they can't be the CEO exactly.
Speaker 5: I do not understand how people don't understand, just don't get.
Speaker 4: I'm just so convinced, babe, I'm speaking English.
Speaker 5: Yeah, what are they not getting? And another idea would
Speaker 5: of course be introducing a better gender neutral paid parental
Speaker 5: leave policy so that we can all take part in
Speaker 5: the parenting at home situation instead of it.
Speaker 4: I think that's I think that that's a really important
Speaker 4: one as well, and I'm glad that you put it
Speaker 4: on the list, yes, because I think that we don't
Speaker 4: understand that neutral paid parental leave policies don't necessarily mean
Speaker 4: oh my gosh, you're giving the man the opportunity. It's
Speaker 4: actually because if I'm in a relationship, let's saying twelve months, guys,
Speaker 4: I turn around to you and say, look, I'm pregnant,
Speaker 4: and Steve and I have looked at his parental leave
Speaker 4: policy in mine, and Matt leaves just better. So we're
Speaker 4: going to put me out of the workforce because the
Speaker 4: policy is just better.
Speaker 2: That's how it works.
Speaker 4: That's a decision that a lot of people in our
Speaker 4: community make, and I genuinely believe it shouldn't come down
Speaker 4: to who has the better Matt leave policy. It should
Speaker 4: just be if you're the dad or you're the mum,
Speaker 4: you're the primary care give but you can take that leave.
Speaker 4: I just it doesn't make any sense to me that, oh, sorry,
Speaker 4: that you're the dad, you can't actually take the leave
Speaker 4: that we would give to the women in this organization.
Speaker 3: And we are making strides with that with parental sever
Speaker 3: rules now. But I think ultimately the big goal is
Speaker 3: rally together for change, because ultimately, you know, it benefits
Speaker 3: everyone to be putting women in these positions of power.
Speaker 3: And I know people are resistance change and whatever, but firstly,
Speaker 3: stop coming to our DM. I'm telling me the pay
Speaker 3: GAP's not real because I will fight you, but no
Speaker 3: I won't because I'm soft.
Speaker 2: Nott make Victoria fight you for me.
Speaker 3: But also have those conversations, support them and talk to
Speaker 3: your partners, talk to them men in your life, your brothers,
Speaker 3: your dads, your cousins, because we need them to be
Speaker 3: standing up as well. It can't just be women. We
Speaker 3: need everybody getting on the same page and saying, yeah, like,
Speaker 3: let's make some change. Let's get that percentage below ten
Speaker 3: percent at least twenty twenty three.
Speaker 2: And understand it now.
Speaker 4: Yeah, but also just genuinely understand what it means as well,
Speaker 4: because we've had a few people who have messaged us
Speaker 4: and they're like, yeah, but I want to work Cless. Good,
Speaker 4: But your friends who don't want to work Cless should
Speaker 4: get the same opportunity. Like, I don't mind what your
Speaker 4: personal values are. What I want is for you to
Speaker 4: have freedom of choice and that choice not be compromised
Speaker 4: or that choice not be equal to that of somebody
Speaker 4: else who just has a different gender.
Speaker 3: All Right, we gotta put a pin in it because
Speaker 3: I'm getting around.
Speaker 2: Even recently.
Speaker 4: This was weeks ago and we're still writing in the
Speaker 4: office about it.
Speaker 2: I reckon, it's time to listen to our money dilemma.
Speaker 3: Hi, there, have you got.
Speaker 5: A money dilemma you just can't solve that. She's on
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Speaker 6: In your book, it talks about setting up different bank
Speaker 6: accounts for different things such as expenses, emergency, blowcard, et cetera.
Speaker 6: Do I still do that if I have an offset account?
Speaker 6: Or should I be putting everything into the offset account?
Speaker 3: Victoria Vine, I know I never remember you mentioning a
Speaker 3: blow account.
Speaker 2: No, but I heard that.
Speaker 4: There was this guy who didn't wear shoes who did
Speaker 4: recommend a blow account.
Speaker 2: But you do you.
Speaker 4: We don't have a mojo either, but what we do
Speaker 4: have is a she's on the money, budget and cash
Speaker 4: flow plan. I can talk about that. Would you want
Speaker 4: me to talk about that? Absolutely fantastic, so, really good question. Yes,
Speaker 4: it is exactly the same whether you have an offset
Speaker 4: account or not. In fact, with that system, if you
Speaker 4: have an offset account, it arguably turbocharges every single dollar
Speaker 4: in your account. So with the budget and cash flow
Speaker 4: plan that you're asking about, and to be honest, I
Speaker 4: came up with her. I think it's pretty genius. Bias, Jess,
Speaker 4: you use it, you think it's good. You have obviously
Speaker 4: added your own flare to it, which I love. But
Speaker 4: it's a very good from my perspective base of how
Speaker 4: a cash flow system works to make sure that every
Speaker 4: single dollar that comes into your account is utilized properly,
Speaker 4: and that every single dollar that comes into your account.
Speaker 2: Works as hard as you do for it.
Speaker 3: Right.
Speaker 4: So the first thing, I'm just going to explain the
Speaker 4: whole thing, because I'm sure that there are people who
Speaker 4: are listening who are like I have. I've never seen
Speaker 4: your plan. I don't know what it is. So essentially,
Speaker 4: you have what's called a cash hub, and I've called
Speaker 4: it a cash hub because it's basically the one stop
Speaker 4: shop where all of your money goes. Whether you are
Speaker 4: a freelancer or you are you know, a full time employee,
Speaker 4: or maybe you're both. All your personal income goes into this.
Speaker 4: If you're a business owner, though, different cashlow system, you
Speaker 4: need to work that out. We never mix our personal
Speaker 4: and our business banking. So your cash hub exists for
Speaker 4: all income to be banked into on a weekly, fortnightly
Speaker 4: monthly basis doesn't matter. It automatically calculates that for you.
Speaker 4: If it is just a regular savings account, fantastic. If
Speaker 4: it is an offset account, every dollar that goes into
Speaker 4: that account is actually offsetting the money that you owe
Speaker 4: on your mortgage, which.
Speaker 2: Is the money win.
Speaker 4: Right. So if you're in a position where you don't
Speaker 4: have an offset and you're like, oh, Victoria, that sounds
Speaker 4: pretty sexy, talk to your mortgage broker. And when I
Speaker 4: say your mortgage broker, I'm talking about Kate brands Growth,
Speaker 4: who is the Zela mortgage broker, because he's obviously supreme.
Speaker 4: But every dollar goes into your cash hub. That cash
Speaker 4: hub exists, and then all bills and fixed costs are
Speaker 4: paid from that cash hub via direct debit or be
Speaker 4: paid directly from your cash hub. So you've organized it.
Speaker 4: You know your budget, you know how many dollars come
Speaker 4: in each month, week, fortnite, whatever it is, and all
Speaker 4: your bills are directly taken out of that cash hub.
Speaker 2: You know that figure.
Speaker 4: So you might have twenty nine hundred dollars a fortnite
Speaker 4: coming into that account, and you might know as well
Speaker 4: that six hundred dollars per month are bills, and that
Speaker 4: might be for your rent, it might be for your phone,
Speaker 4: your internet, your insurance, your utilities, your red Joe. This
Speaker 4: is that cash hub that exists to capture every single dollar,
Speaker 4: and it kind of acts like a basket so that
Speaker 4: nothing filters away, because honestly, money is kind of like sand,
Speaker 4: and if you don't have a good plan for it,
Speaker 4: it literally just blows away. Then you're going to have
Speaker 4: your weekly spending amount. And your weekly spending amount is
Speaker 4: an amount of money that exists for you to have,
Speaker 4: and I always call it the food, fuel, and Fun
Speaker 4: account because that's what pays to your groceries you're entertained,
Speaker 4: and your transport, so Jess in your example, it might
Speaker 4: be for your groceries, for whatever you pay for Frisbee,
Speaker 4: for your shoes, for your clothes, for whatever you're buying
Speaker 4: at Sephora. You know, because you've done a good budget,
Speaker 4: how much on average that costs per week, and you
Speaker 4: transfer each and every single week that amount of money
Speaker 4: to that account. That now means that you're not dipping
Speaker 4: into your cash hub and accidentally spending the money that
Speaker 4: you're meant to have reserved for your car, redge oh
Speaker 4: or your health insurance or whatever you need to pay.
Speaker 4: You know that maybe each and every single week you
Speaker 4: have two hundred and eighty dollars to spend on food, fuel,
Speaker 4: and fun. And once that money is gone each and
Speaker 4: every single week, it's gone.
Speaker 2: Babe.
Speaker 4: If you have spent that money and now you need
Speaker 4: to go and eat two minute noodles for dinner, that's
Speaker 4: on you. Because this system means that you're not compromising
Speaker 4: your saving, investing, or bigger bills and goals. Right, So
Speaker 4: then your weekly spending amount, because it's an average, you're
Speaker 4: not going to spend each and every single week that
Speaker 4: same amount. Some weeks, you might have a really lean
Speaker 4: week and you might be like, oh, my gosh, I
Speaker 4: worked fifty million hours because Victoria is the devil boss,
Speaker 4: and I didn't have any time to go to Sephora.
Speaker 4: I couldn't buy anything for me. So I had two
Speaker 4: hundred and eighty dollars in the account at the start
Speaker 4: of the month. Now there's one hundred and ninety left.
Speaker 4: That's a stretch that that's not how much is ever
Speaker 4: left in mind, but you know it's a good example.
Speaker 4: I'm then going to transfer that money on the same
Speaker 4: day that my weekly spending amount is automatically direct debited
Speaker 4: into that account. I'm going to transfer the surplus over
Speaker 4: to my feels like an emergency, but it's not an
Speaker 4: emergency account, which is another bank account. So for those
Speaker 4: following along at home, we're now at three bank accounts.
Speaker 4: That is your emergency fund for fun. It's not your
Speaker 4: real emergency fund. It's the fund where you're like, hmm,
Speaker 4: I blew all my money in my weekly spending account,
Speaker 4: but the girls want to go out for drinks. Well,
Speaker 4: I do have that one hundred and ninety sitting to
Speaker 4: the side in my feels like an emergency, but it's
Speaker 4: not a lergency account, and I can spend that because
Speaker 4: it's actually left over from the last time I didn't
Speaker 4: do it, and I've kind of like done it myself.
Speaker 4: We're not actually compromising our saving or investing goals. We're
Speaker 4: not compromising Red Joe just she knows that that money's
Speaker 4: sitting there and she can spend it if she wants to.
Speaker 4: I get a little protective of that money because that's
Speaker 4: where my shoes come from. So like, I look at
Speaker 4: it and go if I have money left over in
Speaker 4: my weekly spending money, and I transfer it to my
Speaker 4: not emergency account. I kind of see it and I'm like, oh,
Speaker 4: if I get to X amount, I can buy shoes
Speaker 4: or I can buy something that I want and it
Speaker 4: doesn't impact any other goal.
Speaker 2: It's kind of like a win.
Speaker 4: Or it could be you going and getting your hair
Speaker 4: done or doing something for you that you want to
Speaker 4: spend money on without any level of guilt. So that
Speaker 4: is how the base of the cash hub works. And
Speaker 4: then you will have other accounts. Usually people will have
Speaker 4: an additional three accounts, so that takes you to a
Speaker 4: total of six accounts. They will have three savings accounts.
Speaker 4: If you have an offset account and the ability to
Speaker 4: have multiple offsets, most people doing this system will choose
Speaker 4: to have as many accounts as they possibly can as
Speaker 4: an offset because that money will always then offset the
Speaker 4: interest that you're paying on your mortgage. But they will
Speaker 4: have three additional accounts. One will be long term savings.
Speaker 4: So for Jess, and she's a good example because we
Speaker 4: know she's saving for a house, that could be a
Speaker 4: house deposit, and each fortnite when she gets transferred that
Speaker 4: amount of money, she might go, Okay, cool, I'm transferring
Speaker 4: two hundred dollars to my house savings. It's automated. Then
Speaker 4: there's medium term goals and that could be just as
Speaker 4: saving for a new car or a holiday, or some
Speaker 4: spending money for a holiday or something that she's working towards.
Speaker 4: And then that sixth account is your emergency fund, and
Speaker 4: that emergency fund sits there if it's in an offset
Speaker 4: money in, it's offsetting the mortgage, it's offsetting the interest
Speaker 4: that is payable on your mortgage. But that money's job
Speaker 4: is actually just to sit there. It's not to be invested,
Speaker 4: it's not to worry about. It's there as your safety net.
Speaker 4: Most people have six accounts in the budget and cash
Speaker 4: flow system and that works for them, but you can
Speaker 4: obviously add your own. But that basic structure to answer
Speaker 4: the question does work with an offset and actually puts
Speaker 4: you in a turbocharged position because every single dollar that's
Speaker 4: in any of your system is actually working towards the
Speaker 4: mortgage money win. The floor is now open for questions.
Speaker 3: And if you do want to learn more about that.
Speaker 3: If you're struggling with your budget and cash flow VD,
Speaker 3: you did cover off this obviously in the sheets of
Speaker 3: the money book, but if you're the whole systems in
Speaker 3: the book like it is in the book, But if
Speaker 3: you're really struggling with your budget and cash flow, or
Speaker 3: if you're someone who needs a little more help with
Speaker 3: their automation like I did, check out the Budget and
Speaker 3: cash Flow Masterclass. It specifically and very thoroughly covers from
Speaker 3: beginning to end of setting up your budget and cash
Speaker 3: flow system. It includes the handy dandy budget template, best
Speaker 3: one I've ever seen, best one I've ever used. I
Speaker 3: mean your bias, but I am, but I use it
Speaker 3: and it does all that for you. So we're obviously saying,
Speaker 3: right now, put this in this fund and this in
Speaker 3: that fund. The template does it automatically. You plug all
Speaker 3: your information in it.
Speaker 4: I can't tell you how long that took me, Jess,
Speaker 4: I have cried so many times over that spreadsheet. But
Speaker 4: essentially your job, if you're using that template is to
Speaker 4: just plug all the numbers in me. How much you earn,
Speaker 4: tell me how much you spend it on what, and
Speaker 4: the rest of it will tell you where to put it,
Speaker 4: what account to put it in.
Speaker 2: How it works, what it looks like.
Speaker 4: You tell me what your savings goal is, and it
Speaker 4: even breaks that down for you to tell you how
Speaker 4: much you need to contribute per week to work it out.
Speaker 5: That just makes it so easy for people who are
Speaker 5: scared of budgets and the organization like me.
Speaker 4: Babe, all of it for you good. I've literally created
Speaker 4: a tool that will do it for you.
Speaker 3: Because it's Friday and I'm feeling generous. Is looking angry
Speaker 3: at me?
Speaker 2: Where are you getting this from?
Speaker 3: If anyone wants to grab the budget and hashla mask class,
Speaker 3: I'll put a little discount code on there for you guys.
Speaker 2: Use the code pod fifty.
Speaker 3: You'll get fifty bucks off and it can put that
Speaker 3: in your feels like an emergency but not an emergency
Speaker 3: account and get some drinks on me galse I love it.
Speaker 4: But yeah, anyway that feels like an emergency but not
Speaker 4: an emergency account was the best thing I ever did
Speaker 4: for myself because I feel like sometimes I'm being naughty,
Speaker 4: but I know I'm not being naughty, and it can
Speaker 4: actually work really well for people that struggle with spending
Speaker 4: money on themselves because it's literally to the side. It
Speaker 4: was kind of like leftover money in a way that
Speaker 4: was alex hated towards something that you know isn't going
Speaker 4: to impact your bigger financial goals. That's all we have
Speaker 4: time for today though, So missus Georgia King, could you
Speaker 4: please wrap the boring but important stuff?
Speaker 5: Absolutely I can already. Guys, please remember that the advice
Speaker 5: shed on She's on the Money is generally in nature
Speaker 5: and does not consider your individual circumstances. She's on the
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Speaker 4: Happy Friday, my friends.
Speaker 2: We will love you on Monday. Bye bye