1 00:00:00,680 --> 00:00:01,000 Speaker 1: Hello. 2 00:00:01,560 --> 00:00:05,040 Speaker 2: My name's Santasha Nabananga Bamblet. I'm a proud yr the 3 00:00:05,160 --> 00:00:08,760 Speaker 2: Order KERNI Whoalbury and a waddery woman. And before we 4 00:00:08,800 --> 00:00:11,440 Speaker 2: get started on She's on the Money podcast, I would 5 00:00:11,520 --> 00:00:14,520 Speaker 2: like to acknowledge the traditional custodians of the land of 6 00:00:14,560 --> 00:00:18,680 Speaker 2: which this podcast is recorded on a wondery country, acknowledging 7 00:00:18,680 --> 00:00:22,560 Speaker 2: the elders, the ancestors and the next generation coming through 8 00:00:23,040 --> 00:00:27,159 Speaker 2: as this podcast is about connecting, empowering, knowledge sharing and 9 00:00:27,240 --> 00:00:30,560 Speaker 2: the storytelling of you to make a difference for today 10 00:00:31,040 --> 00:00:32,640 Speaker 2: and lasting impact for tomorrow. 11 00:00:33,320 --> 00:00:34,120 Speaker 1: Let's get into it. 12 00:00:34,800 --> 00:00:54,080 Speaker 3: She's on the Money, She's on the Money. 13 00:00:57,760 --> 00:01:00,720 Speaker 4: Hello, and welcome to She's on the Money, the podcast 14 00:01:00,800 --> 00:01:05,280 Speaker 4: for millennials who want financial freedom. My name is Beckside 15 00:01:05,360 --> 00:01:07,040 Speaker 4: and with me is Victoria Device. 16 00:01:07,120 --> 00:01:10,160 Speaker 1: Hello and welcome to twenty twenty three Deep Dives. Are 17 00:01:10,160 --> 00:01:10,800 Speaker 1: you excited? 18 00:01:11,080 --> 00:01:12,720 Speaker 4: I am so excited, A little nervous. 19 00:01:12,800 --> 00:01:13,640 Speaker 1: You look craly nervous? 20 00:01:13,760 --> 00:01:16,800 Speaker 5: Do I look? I'm really you're a little bit scary, 21 00:01:16,880 --> 00:01:20,680 Speaker 5: being intimidating, all like five for one of me, just 22 00:01:20,720 --> 00:01:22,240 Speaker 5: like towering over you. 23 00:01:22,319 --> 00:01:24,759 Speaker 4: Yes, you're a little I hate saying this pocket rocket. 24 00:01:24,880 --> 00:01:28,440 Speaker 1: No worse, we're going to go, we'll keep it on. 25 00:01:29,560 --> 00:01:32,000 Speaker 4: I'm very excited to do this deep dive with you today. 26 00:01:32,240 --> 00:01:33,280 Speaker 4: Do you want to jump straight in? 27 00:01:33,360 --> 00:01:35,040 Speaker 1: Yeah, let's jump straight in. Great. 28 00:01:35,240 --> 00:01:39,640 Speaker 4: I think today's topic is actually all too relatable. I'll 29 00:01:39,680 --> 00:01:43,240 Speaker 4: start by asking you, have you ever splurged a little 30 00:01:43,240 --> 00:01:46,759 Speaker 4: bit when you really shouldn't have, Like, not anything huge, 31 00:01:46,920 --> 00:01:51,360 Speaker 4: just misca our nail polish. I don't know, lipstick maybe 32 00:01:51,920 --> 00:01:54,520 Speaker 4: if you have. Not only is it okay, but it's 33 00:01:54,560 --> 00:01:58,440 Speaker 4: apparently so common that it's gotten its own name, the 34 00:01:58,640 --> 00:02:01,280 Speaker 4: lipstick index. Have you heard of this? 35 00:02:01,400 --> 00:02:01,680 Speaker 1: I have. 36 00:02:02,040 --> 00:02:04,480 Speaker 5: I'm very excited to talk about this. I've mentioned it 37 00:02:04,520 --> 00:02:06,080 Speaker 5: too a few of my friends and they're like, what 38 00:02:06,120 --> 00:02:08,160 Speaker 5: are you talking about? So now we're doing a whole 39 00:02:08,200 --> 00:02:08,960 Speaker 5: episode on it. 40 00:02:09,120 --> 00:02:11,320 Speaker 4: I mean, you've got it. I actually had never heard 41 00:02:11,320 --> 00:02:13,320 Speaker 4: of this before, but it makes sense. I think this 42 00:02:13,400 --> 00:02:14,680 Speaker 4: is a term we're going to hear more often than 43 00:02:15,480 --> 00:02:17,080 Speaker 4: do you know why it might be more common. 44 00:02:17,520 --> 00:02:20,040 Speaker 5: Look, at the end of the day, the lipstick index 45 00:02:20,200 --> 00:02:23,560 Speaker 5: exists as kind of like a really it's a bit fluffy, 46 00:02:23,639 --> 00:02:25,799 Speaker 5: but it's a legit, which I find hilarious. But it's 47 00:02:25,919 --> 00:02:29,600 Speaker 5: actually an indicator of an either an impending recession, or 48 00:02:29,600 --> 00:02:32,680 Speaker 5: that we're already in a recession, and given we are 49 00:02:32,960 --> 00:02:35,440 Speaker 5: likely to be headed into a recession this year, I 50 00:02:35,440 --> 00:02:37,200 Speaker 5: don't want to put too many eggs all in that 51 00:02:37,240 --> 00:02:40,359 Speaker 5: one basket. But we've been talking about it in twenty 52 00:02:40,400 --> 00:02:42,280 Speaker 5: twenty two, and I think it is only fair to 53 00:02:42,320 --> 00:02:44,720 Speaker 5: really embrace it this year and talk about it now. 54 00:02:44,960 --> 00:02:47,480 Speaker 5: But a lot of economists are predicting that we will 55 00:02:47,480 --> 00:02:50,839 Speaker 5: fall into a recession this year, which is essentially where 56 00:02:50,880 --> 00:02:54,240 Speaker 5: we have a pretty significant economic downturn. So it's a 57 00:02:54,240 --> 00:02:57,360 Speaker 5: period of time where less people have jobs and there's 58 00:02:57,480 --> 00:02:59,880 Speaker 5: less economic activity, so less trading. 59 00:03:00,240 --> 00:03:01,880 Speaker 1: People are a little bit worried. 60 00:03:02,080 --> 00:03:04,520 Speaker 5: And I would assume that if that's the case in 61 00:03:04,560 --> 00:03:06,720 Speaker 5: the economy, that's the case in our community. 62 00:03:06,800 --> 00:03:08,160 Speaker 1: So we want to talk about it. 63 00:03:08,480 --> 00:03:11,640 Speaker 5: But during times of economic downturn more crisis, you can't 64 00:03:11,639 --> 00:03:13,560 Speaker 5: actually afford big ticket items like I'm not going to 65 00:03:13,600 --> 00:03:15,400 Speaker 5: go out and buy a brand new washing machine when 66 00:03:15,440 --> 00:03:17,880 Speaker 5: I'm financially stressed. But you know what I can afford. 67 00:03:18,160 --> 00:03:20,440 Speaker 5: I can afford a like a little premium luxury. I 68 00:03:20,440 --> 00:03:23,120 Speaker 5: can go back and like lipstick that makes me feel good, 69 00:03:23,360 --> 00:03:25,960 Speaker 5: because I might not be able to justify a whole, 70 00:03:25,960 --> 00:03:27,960 Speaker 5: brand new outfit to make myself feel good. 71 00:03:28,000 --> 00:03:29,639 Speaker 1: But do you know what can make me feel good. 72 00:03:29,600 --> 00:03:32,920 Speaker 5: Like refresh it, treating yourself? Yeah, exactly, a lipstick. So 73 00:03:32,960 --> 00:03:36,040 Speaker 5: that's why it's called the lipstick index, because it basically 74 00:03:36,680 --> 00:03:39,120 Speaker 5: makes you feel good, but is a small amount of money. 75 00:03:39,400 --> 00:03:41,640 Speaker 4: Okay, that makes sense. I feel like I do that 76 00:03:41,680 --> 00:03:44,960 Speaker 4: a little bit too often when I'm feeling already good. 77 00:03:45,720 --> 00:03:48,320 Speaker 1: Feel like I feel good. I need more I feel good. 78 00:03:48,600 --> 00:03:51,040 Speaker 4: I need to maintain this good feeling. I know that 79 00:03:51,080 --> 00:03:53,680 Speaker 4: we're talking about the lipstick index, but if you don't mind, 80 00:03:53,720 --> 00:03:58,320 Speaker 4: I might just quickly ask you what. 81 00:03:57,640 --> 00:03:59,800 Speaker 1: What it actually is and give it a more info. 82 00:04:00,320 --> 00:04:02,680 Speaker 1: What where? How does this happen? 83 00:04:02,720 --> 00:04:06,400 Speaker 4: Like? How do we expect or predict a recession? What 84 00:04:06,560 --> 00:04:10,080 Speaker 4: is a recession? Should I just be blissfully ignorant? Or 85 00:04:10,120 --> 00:04:12,520 Speaker 4: should I know about this? Should prepared? 86 00:04:12,920 --> 00:04:14,680 Speaker 1: I think it's fair to know about it. 87 00:04:14,840 --> 00:04:17,719 Speaker 5: I think that you would have already heard, assuming that 88 00:04:17,760 --> 00:04:20,520 Speaker 5: you don't live under a roll Clarke Patrick the Cistar, 89 00:04:21,000 --> 00:04:22,920 Speaker 5: you would have heard of a recession, and you would 90 00:04:22,920 --> 00:04:25,280 Speaker 5: assume that it's not a good thing. In twenty twenty two, 91 00:04:25,279 --> 00:04:27,120 Speaker 5: we did a whole podcast on it, but you weren't 92 00:04:27,120 --> 00:04:29,080 Speaker 5: here in twenty twenty two, so this is a very 93 00:04:29,080 --> 00:04:31,559 Speaker 5: fair question. And I'm assuming we also have a number 94 00:04:31,560 --> 00:04:34,120 Speaker 5: of brand new listeners, So we have heaps of resources 95 00:04:34,120 --> 00:04:36,400 Speaker 5: that you can go back to. Just type into your 96 00:04:36,400 --> 00:04:39,720 Speaker 5: search bar on whatever podcasting app you do use She's 97 00:04:39,760 --> 00:04:42,120 Speaker 5: on the Money, and then recession and our episodes that 98 00:04:42,200 --> 00:04:45,480 Speaker 5: reference that will come up. But essentially, a recession is 99 00:04:45,520 --> 00:04:48,719 Speaker 5: a significant decline in economic activity that can last for 100 00:04:48,800 --> 00:04:52,920 Speaker 5: months or even years, and experts basically declare, quote, we're 101 00:04:52,920 --> 00:04:56,840 Speaker 5: in a recession when a nation's economy experiences negative gross 102 00:04:56,839 --> 00:05:02,320 Speaker 5: domestic product, which is called GDP, essentially exports and rising 103 00:05:02,400 --> 00:05:05,560 Speaker 5: levels of unemployment, as well as falling retail sales and 104 00:05:05,640 --> 00:05:09,520 Speaker 5: contracting measures of income and manufacturing for extended periods of time. 105 00:05:09,760 --> 00:05:12,320 Speaker 5: So it's kind of like everything grinds to a massive holt, 106 00:05:12,320 --> 00:05:14,800 Speaker 5: and I mean not absolutely everything, but like when things 107 00:05:14,800 --> 00:05:17,480 Speaker 5: are going down, people get worried and you're like, oh, 108 00:05:17,560 --> 00:05:19,920 Speaker 5: maybe I won't build that house, maybe I won't buy 109 00:05:19,960 --> 00:05:22,200 Speaker 5: so many clothes, Maybe I'll just put that thing I've 110 00:05:22,200 --> 00:05:24,839 Speaker 5: been planning on purchasing off for a little bit longer. 111 00:05:24,880 --> 00:05:27,080 Speaker 5: Because you know, my husband now doesn't have a job 112 00:05:27,160 --> 00:05:30,800 Speaker 5: or I'm seeing around me other people not have job stability, 113 00:05:30,880 --> 00:05:33,800 Speaker 5: and that can be really stressful. So a recession is 114 00:05:33,839 --> 00:05:36,840 Speaker 5: something that is really stressful. And the last one we 115 00:05:36,880 --> 00:05:40,200 Speaker 5: went through was the GFC, so the global financial crisis 116 00:05:40,240 --> 00:05:42,760 Speaker 5: that happened in two thousand and eight and really impacted 117 00:05:42,760 --> 00:05:45,320 Speaker 5: people in two thousand and nine, and that you know, 118 00:05:45,400 --> 00:05:47,600 Speaker 5: we covered that on the podcast as well, So if 119 00:05:47,600 --> 00:05:49,080 Speaker 5: you want to look that up, search she's on the 120 00:05:49,080 --> 00:05:51,080 Speaker 5: Money GFC and it will come up because they deep 121 00:05:51,160 --> 00:05:54,400 Speaker 5: dived into that. But essentially, it's important to not only 122 00:05:54,480 --> 00:05:58,120 Speaker 5: understand what a recession is, but also financially prepare for it, 123 00:05:58,160 --> 00:05:59,720 Speaker 5: which we're going to do a lot of content on 124 00:05:59,760 --> 00:06:03,080 Speaker 5: these year. But the lipstick index is a term that's 125 00:06:03,120 --> 00:06:04,919 Speaker 5: just kind of interesting, and I think that she's on 126 00:06:04,960 --> 00:06:08,200 Speaker 5: the Money community will find it really interesting because it's 127 00:06:08,240 --> 00:06:12,120 Speaker 5: one of those things that you don't realize how important 128 00:06:12,200 --> 00:06:15,560 Speaker 5: little things are to a community until you know something 129 00:06:15,640 --> 00:06:18,919 Speaker 5: bad happens and we start really appreciating the small pleasures. 130 00:06:18,920 --> 00:06:21,440 Speaker 5: And I think it's also a really nice reminder that 131 00:06:21,520 --> 00:06:23,960 Speaker 5: we can still have nice things when we don't have 132 00:06:24,040 --> 00:06:24,960 Speaker 5: massive budgets. 133 00:06:25,200 --> 00:06:26,680 Speaker 4: That makes me feel a little bit better about my 134 00:06:26,720 --> 00:06:30,400 Speaker 4: spending habits actually, but it does bit weird that it's 135 00:06:30,520 --> 00:06:32,560 Speaker 4: because like, I don't relate to that, I don't buy lipstick. 136 00:06:32,720 --> 00:06:33,560 Speaker 1: Why is that the term? 137 00:06:33,600 --> 00:06:36,120 Speaker 4: Why you come across as the type of gowl who 138 00:06:36,160 --> 00:06:39,480 Speaker 4: decides that lipstick is hor splurge item. Yeah, Like, are 139 00:06:39,480 --> 00:06:42,760 Speaker 4: we assuming that it's just for people who buy like 140 00:06:42,880 --> 00:06:44,200 Speaker 4: small cosmetic items? 141 00:06:44,920 --> 00:06:45,080 Speaker 2: No? 142 00:06:45,080 --> 00:06:45,600 Speaker 1: No, no, no. 143 00:06:45,720 --> 00:06:48,760 Speaker 5: So it was actually coined in the aftermath of September eleven, 144 00:06:48,839 --> 00:06:51,080 Speaker 5: during the two thousand and one US recession by a 145 00:06:51,080 --> 00:06:54,200 Speaker 5: guy called Leonard Lauder, who might be familiar because he's 146 00:06:54,200 --> 00:06:58,039 Speaker 5: the chairman of stay Lauder Cosmetics. And this guy he 147 00:06:58,120 --> 00:07:02,080 Speaker 5: found that lipstick sales Esta Lauder rose in the autumn 148 00:07:02,080 --> 00:07:05,320 Speaker 5: of that year, which indicates that women facing an uncertain 149 00:07:05,360 --> 00:07:08,479 Speaker 5: economic environment actually turned to beauty products as an affordable 150 00:07:08,520 --> 00:07:12,480 Speaker 5: little treaty treat beck and it's continued to play out. 151 00:07:12,520 --> 00:07:14,720 Speaker 5: So in the financial crisis of two thousand and eight 152 00:07:14,760 --> 00:07:17,560 Speaker 5: slash two thousand and nine that I mentioned before, sales 153 00:07:17,640 --> 00:07:21,720 Speaker 5: of Foundation went through the roof, and Lurel's sales in general, 154 00:07:21,800 --> 00:07:25,200 Speaker 5: like across the board, grew by five point eight percent, 155 00:07:25,400 --> 00:07:28,560 Speaker 5: which is why, given we were in a recession and 156 00:07:28,640 --> 00:07:30,840 Speaker 5: everything else was just going down and Loreal's like, oh, 157 00:07:30,880 --> 00:07:33,080 Speaker 5: we're over here making bank Heven a really good time. 158 00:07:33,200 --> 00:07:34,840 Speaker 1: Yeah, so it must be nice exactly. 159 00:07:34,920 --> 00:07:37,120 Speaker 5: So the lipstick index just comes from a guy who 160 00:07:37,160 --> 00:07:40,040 Speaker 5: decided to call it that. It's not because lipstick is 161 00:07:40,080 --> 00:07:42,320 Speaker 5: the only thing we're spending on. It just came from 162 00:07:42,360 --> 00:07:44,360 Speaker 5: a guy who happens to be a chairman. 163 00:07:44,160 --> 00:07:45,560 Speaker 1: Of Esday lauder Town guy. 164 00:07:45,760 --> 00:07:48,640 Speaker 4: Just a small town guy living in a big city. 165 00:07:50,520 --> 00:07:53,000 Speaker 4: That's actually very interesting. Do they know why that is? 166 00:07:53,040 --> 00:07:54,720 Speaker 4: Can you tell me how that actually works? 167 00:07:54,840 --> 00:07:57,720 Speaker 5: So the lipstick effect is a consumer expression of something 168 00:07:57,760 --> 00:08:01,680 Speaker 5: the economists like to call the income effect. So with 169 00:08:01,800 --> 00:08:04,880 Speaker 5: normal goods, as a consumer's income rises, so does demand. 170 00:08:04,880 --> 00:08:07,120 Speaker 5: And we've talked about this before and I call it 171 00:08:07,160 --> 00:08:10,240 Speaker 5: on the podcast lifestyle Creep, which you would have heard 172 00:08:10,240 --> 00:08:13,400 Speaker 5: me talk about a million times before. But essentially an 173 00:08:13,400 --> 00:08:15,520 Speaker 5: example of lifestyle creeper is when I was at Uni, 174 00:08:15,560 --> 00:08:17,560 Speaker 5: I used to buy like makeup and stuff from the 175 00:08:17,600 --> 00:08:19,880 Speaker 5: supermarket and from price line, And now I have a 176 00:08:19,880 --> 00:08:22,600 Speaker 5: full time job, I'm like dabbling with Mecca and my 177 00:08:22,800 --> 00:08:26,320 Speaker 5: expenses have increased because obviously, like a Mecca foundation much 178 00:08:26,360 --> 00:08:28,560 Speaker 5: more expensive. Though on the one on sale of coals, 179 00:08:29,160 --> 00:08:32,200 Speaker 5: but it kind of just slowly creeps up on you. 180 00:08:32,840 --> 00:08:35,600 Speaker 5: So with that in mind, for some goods known as 181 00:08:35,600 --> 00:08:40,360 Speaker 5: inferior goods, the rising consumer income actually weakens demand. So 182 00:08:40,640 --> 00:08:43,319 Speaker 5: cheap domestic beer is a really good example of that. 183 00:08:43,400 --> 00:08:45,600 Speaker 5: Nobody wants to drink the cheap, crappy stuff, And I 184 00:08:45,600 --> 00:08:49,400 Speaker 5: think that that's a really good example of quote inferior goods. 185 00:08:49,559 --> 00:08:52,559 Speaker 5: The opposite actually happens in the case of the lipstick effect. 186 00:08:52,640 --> 00:08:56,760 Speaker 5: So as consumers income's full or become less stable, they'll 187 00:08:56,760 --> 00:09:00,319 Speaker 5: actually four go big ticket luxury items or big ticket 188 00:09:00,400 --> 00:09:03,320 Speaker 5: luxury purchases that they can no longer afford, and instead 189 00:09:03,400 --> 00:09:06,959 Speaker 5: spend their now reduced income on a smaller luxury item. 190 00:09:07,120 --> 00:09:10,800 Speaker 5: Right now, when I say luxury item, I'm not talking like, oh, 191 00:09:10,920 --> 00:09:14,200 Speaker 5: like people are stopping buying your bags, Beck, Like, oh, 192 00:09:14,240 --> 00:09:15,800 Speaker 5: they're not headed off to Chanelle. 193 00:09:15,920 --> 00:09:16,120 Speaker 2: I know. 194 00:09:16,240 --> 00:09:18,800 Speaker 4: I pause my der bag subscription. 195 00:09:18,920 --> 00:09:22,520 Speaker 1: General, you have your bag subscription. You must have a dog, 196 00:09:23,440 --> 00:09:24,080 Speaker 1: big dog. 197 00:09:24,280 --> 00:09:24,559 Speaker 2: Beck. 198 00:09:24,679 --> 00:09:25,920 Speaker 4: Yeah, it's pretty nice. 199 00:09:25,800 --> 00:09:26,720 Speaker 1: When we talk about that. 200 00:09:27,040 --> 00:09:30,520 Speaker 5: I feel like the word luxury, especially in twenty twenty 201 00:09:30,520 --> 00:09:33,960 Speaker 5: two slash twenty twenty three, has a different take. Like, 202 00:09:34,000 --> 00:09:37,440 Speaker 5: to me, luxury are those things that are not necessary 203 00:09:37,480 --> 00:09:41,600 Speaker 5: in your budget. So we're not talking about like designer goods. 204 00:09:41,679 --> 00:09:44,680 Speaker 5: When someone says, oh, luxury, I'm like, I immediately think 205 00:09:44,679 --> 00:09:47,880 Speaker 5: of designer items. I don't know about you, I immediately think, oh, 206 00:09:47,920 --> 00:09:50,679 Speaker 5: they must be talking about like really expensive things. But 207 00:09:50,800 --> 00:09:54,240 Speaker 5: luxury in this term of reference is actually just things 208 00:09:54,320 --> 00:09:58,720 Speaker 5: that are not necessary, so like not housing, not food, 209 00:09:58,920 --> 00:10:02,040 Speaker 5: not bills, like things that you know, going out for 210 00:10:02,080 --> 00:10:04,720 Speaker 5: a drink with your mates, that's a luxury that's not 211 00:10:04,760 --> 00:10:08,480 Speaker 5: a necessity. So things that are not necessary for your 212 00:10:08,520 --> 00:10:10,560 Speaker 5: budget or your life, if that makes sense. 213 00:10:10,760 --> 00:10:13,240 Speaker 1: So we're not just talking about lipstick. 214 00:10:13,640 --> 00:10:16,280 Speaker 5: But I feel like it's a good example, right because 215 00:10:16,360 --> 00:10:18,800 Speaker 5: not everyone buys it. But like, for example, I'm gonna 216 00:10:18,800 --> 00:10:20,719 Speaker 5: pick on you for a hot second. You dyed your 217 00:10:20,720 --> 00:10:24,080 Speaker 5: hair recently. I mean it was it was fun to 218 00:10:24,120 --> 00:10:26,520 Speaker 5: watch on Instagram and thankfully it looks really good. 219 00:10:26,559 --> 00:10:29,280 Speaker 1: Like I'm shocked how good your hair looks. Doesn't look good? Yeah, 220 00:10:29,280 --> 00:10:30,520 Speaker 1: it looks cute, You're real cute. 221 00:10:30,960 --> 00:10:34,360 Speaker 5: But that would be a luxury purchase, as opposed to 222 00:10:34,640 --> 00:10:36,000 Speaker 5: you're thinking maybe it was a deal. 223 00:10:36,960 --> 00:10:40,200 Speaker 4: Yeah, yeap, that makes sense. Okay. When I think of luxury, 224 00:10:40,800 --> 00:10:43,120 Speaker 4: I honestly don't even think that far ahead. But it 225 00:10:43,200 --> 00:10:45,880 Speaker 4: is while that going out for a drink with a 226 00:10:45,920 --> 00:10:47,280 Speaker 4: mate is a luxury. 227 00:10:47,000 --> 00:10:48,480 Speaker 1: Well, it totally is a luxury. 228 00:10:48,559 --> 00:10:52,319 Speaker 5: Like it's something that not absolutely everybody has the privilege 229 00:10:52,360 --> 00:10:56,040 Speaker 5: of experiencing because not everybody has the room in their 230 00:10:56,080 --> 00:10:58,280 Speaker 5: budget to go. Oh, I can pop out for a 231 00:10:58,280 --> 00:11:00,960 Speaker 5: beer with a mate, or in my be takeaway or 232 00:11:01,040 --> 00:11:04,000 Speaker 5: Uber Eats, or it might be you know, you buying 233 00:11:04,200 --> 00:11:07,360 Speaker 5: the pre prepared chicken at the supermarket as opposed to 234 00:11:07,720 --> 00:11:09,079 Speaker 5: just marinating it yourself. 235 00:11:09,080 --> 00:11:09,719 Speaker 1: Do you know what I mean? 236 00:11:09,800 --> 00:11:13,080 Speaker 5: Like when we say luxury, we're saying a luxury from 237 00:11:13,120 --> 00:11:16,800 Speaker 5: my perspective, especially as somebody who knows money is something 238 00:11:16,840 --> 00:11:19,240 Speaker 5: that is not necessary but makes you feel good. 239 00:11:19,320 --> 00:11:22,360 Speaker 4: So I guess you could probably understand that that's why 240 00:11:22,440 --> 00:11:24,520 Speaker 4: I had to. Well I didn't have to, but I 241 00:11:24,640 --> 00:11:27,240 Speaker 4: chose to bleach my hair at home as opposed to 242 00:11:27,320 --> 00:11:28,600 Speaker 4: going to the salon. 243 00:11:29,160 --> 00:11:30,680 Speaker 1: Yeah, but it's still a luxury. 244 00:11:30,800 --> 00:11:33,840 Speaker 5: Rat like you was still able to afford to buy 245 00:11:33,880 --> 00:11:36,040 Speaker 5: some bleach to do your hair. It's kind of like 246 00:11:36,400 --> 00:11:39,720 Speaker 5: a more affordable luxury. An affordable luxury is something that 247 00:11:39,760 --> 00:11:41,920 Speaker 5: I want to talk a little bit more about this 248 00:11:42,040 --> 00:11:44,959 Speaker 5: year because I feel like people have blown it out 249 00:11:44,960 --> 00:11:47,319 Speaker 5: of proportion, Like I'm on TikTok all the time. Now, 250 00:11:47,320 --> 00:11:49,120 Speaker 5: I don't want to talk about my usage, but like 251 00:11:49,280 --> 00:11:52,320 Speaker 5: I love TikTok, I'm obsessed with it. If anybody has noticed, 252 00:11:52,360 --> 00:11:55,520 Speaker 5: I have been posting literally twice a day on about 253 00:11:55,520 --> 00:11:57,679 Speaker 5: the yeah big dog energy, Let's see if I can 254 00:11:57,760 --> 00:12:00,040 Speaker 5: keep it up for the entirety of twenty twenty three. 255 00:12:00,120 --> 00:12:03,160 Speaker 5: But something that I'm finding coming up on my FU 256 00:12:03,360 --> 00:12:06,320 Speaker 5: page all the time is just like lots of luxury 257 00:12:06,320 --> 00:12:08,480 Speaker 5: goods and people being like, oh, here's my hall from 258 00:12:08,480 --> 00:12:11,320 Speaker 5: when I went shopping in Paris, or here's my outfit 259 00:12:11,360 --> 00:12:13,440 Speaker 5: of the day, and like all of those things. I 260 00:12:13,480 --> 00:12:16,000 Speaker 5: really like consuming because like I love shiny things. I'm 261 00:12:16,040 --> 00:12:18,920 Speaker 5: basically like a magpie. Like I see shiny and I'm like, ooh, 262 00:12:18,960 --> 00:12:21,880 Speaker 5: I need it. But it's interesting because I look at 263 00:12:21,920 --> 00:12:23,840 Speaker 5: it and go wow, Like your outfit of the day 264 00:12:24,640 --> 00:12:27,559 Speaker 5: is more than one thousand dollars, Like even a full 265 00:12:27,600 --> 00:12:30,360 Speaker 5: outfit that's more than three hundred dollars to me is 266 00:12:30,640 --> 00:12:33,800 Speaker 5: not reasonable. Like and I mean, don't get me wrong, 267 00:12:33,880 --> 00:12:36,040 Speaker 5: I definitely have items in my wardrobe that are more 268 00:12:36,080 --> 00:12:38,000 Speaker 5: than three hundred dollars so it's not about being a 269 00:12:38,080 --> 00:12:41,040 Speaker 5: hypocrite here. I'm just looking at it going wow, like 270 00:12:41,160 --> 00:12:43,000 Speaker 5: is this the new normal? Are we meant to look 271 00:12:43,000 --> 00:12:44,880 Speaker 5: at it and be like, oh, you're meant to be 272 00:12:44,920 --> 00:12:47,000 Speaker 5: wearing Chanel shoes because like, oh, there's such a good 273 00:12:47,000 --> 00:12:48,880 Speaker 5: staple and I get good cost per way, Like why 274 00:12:48,960 --> 00:12:52,040 Speaker 5: are people just anyway? We can talk about affordable luxuries 275 00:12:52,040 --> 00:12:55,040 Speaker 5: on another episode, but I think it's really important to 276 00:12:55,120 --> 00:12:58,480 Speaker 5: kind of check our imprivilege, right because regardless of what 277 00:12:58,559 --> 00:13:01,320 Speaker 5: our income is, as you said before, it's a really 278 00:13:01,360 --> 00:13:03,840 Speaker 5: good example. You were like, I, you know, didn't go 279 00:13:03,880 --> 00:13:05,880 Speaker 5: to the salon because to go as blonde as you 280 00:13:05,960 --> 00:13:09,080 Speaker 5: went would be like minimum six hundred bucks, right, Oh 281 00:13:09,160 --> 00:13:13,600 Speaker 5: my god, Yeah, it's so expensive. But the audacity you 282 00:13:13,640 --> 00:13:15,680 Speaker 5: had to take that into your own hands, like and 283 00:13:15,720 --> 00:13:18,160 Speaker 5: she also, guys, she put it all over her Instagram 284 00:13:18,200 --> 00:13:19,760 Speaker 5: and I was just like living for it. 285 00:13:20,160 --> 00:13:20,520 Speaker 1: Anyway. 286 00:13:20,559 --> 00:13:24,320 Speaker 4: It's free to get advice from strangers on the internet, 287 00:13:24,760 --> 00:13:27,520 Speaker 4: and I really I probably could have gone to the salon. 288 00:13:27,640 --> 00:13:29,480 Speaker 5: See, I feel like the thing you should have done 289 00:13:29,520 --> 00:13:32,160 Speaker 5: in this circumstance, okay, is probably just head down to 290 00:13:32,240 --> 00:13:34,559 Speaker 5: chemists warehouse or like what is that hairhouse? 291 00:13:34,559 --> 00:13:37,600 Speaker 1: Warehouse. Everyone did, Oh they did? 292 00:13:37,760 --> 00:13:38,240 Speaker 6: Everyone did? 293 00:13:38,240 --> 00:13:38,720 Speaker 1: What? 294 00:13:39,000 --> 00:13:39,440 Speaker 4: Surely they? 295 00:13:39,559 --> 00:13:41,559 Speaker 1: How did you do it? Tell me? Sorry, we're going 296 00:13:41,600 --> 00:13:42,040 Speaker 1: on a rail. 297 00:13:43,120 --> 00:13:45,040 Speaker 5: Did you just like go to like came out and 298 00:13:45,040 --> 00:13:46,840 Speaker 5: buy a packet to die and call it a day. 299 00:13:47,000 --> 00:13:49,160 Speaker 4: I had some bleach left over my cupb and I 300 00:13:49,160 --> 00:13:50,440 Speaker 4: don't know how if it was expired. 301 00:13:50,480 --> 00:13:52,000 Speaker 1: I was hair bleach, it was. 302 00:13:52,240 --> 00:13:53,160 Speaker 4: It was sink bleach. 303 00:13:53,200 --> 00:13:56,880 Speaker 1: I'm just kidding. It was about to go down here 304 00:13:56,920 --> 00:13:58,199 Speaker 1: and I was like, wow. 305 00:13:58,080 --> 00:14:00,480 Speaker 4: But it was several years old bleach. 306 00:14:00,640 --> 00:14:03,560 Speaker 5: But I thought, you sure, it's just yeah, sure, surely 307 00:14:03,640 --> 00:14:04,400 Speaker 5: it doesn't expire. 308 00:14:04,559 --> 00:14:06,680 Speaker 4: No, I don't think so. I didn't actually check. But 309 00:14:07,160 --> 00:14:09,400 Speaker 4: it got there in the end. I bleached it five times. 310 00:14:09,440 --> 00:14:12,040 Speaker 4: It turned jelly a little bit. Oh just a little bit, 311 00:14:12,280 --> 00:14:13,640 Speaker 4: just a little bit of it went to jelly. 312 00:14:13,720 --> 00:14:14,959 Speaker 1: That's all right? Is it all gone now? 313 00:14:15,280 --> 00:14:19,560 Speaker 4: It's look it's it's actually hanging on by literally a thread, 314 00:14:19,920 --> 00:14:22,280 Speaker 4: a jelly thread, a jelly thread. I can't get it 315 00:14:22,280 --> 00:14:25,240 Speaker 4: wet right now, I will fall out. But I got 316 00:14:25,280 --> 00:14:28,800 Speaker 4: there in the end. I just chucked a twelve dollars 317 00:14:28,840 --> 00:14:31,840 Speaker 4: silver toner through it used my old bleach. 318 00:14:32,040 --> 00:14:35,040 Speaker 5: I'm surprised at how good it looks given that experience. 319 00:14:35,080 --> 00:14:36,840 Speaker 5: But for those of you who are playing along at home, 320 00:14:36,880 --> 00:14:39,600 Speaker 5: I'd probably head to hairhouse, wearhouse and just ask someone 321 00:14:39,680 --> 00:14:41,840 Speaker 5: there say, look, I'm going to be dyeing my hair 322 00:14:41,960 --> 00:14:43,160 Speaker 5: at home on my own. 323 00:14:43,360 --> 00:14:43,920 Speaker 1: What would you. 324 00:14:43,840 --> 00:14:45,960 Speaker 5: Recommend I do to make sure I don't pull a 325 00:14:46,040 --> 00:14:49,440 Speaker 5: jelly beck? Speaking of hanging on my threadback, let's go 326 00:14:49,480 --> 00:14:51,120 Speaker 5: to a quick break, and then when we get back 327 00:14:51,160 --> 00:14:53,680 Speaker 5: we'll re establish and actually talk about the lipstick index. 328 00:14:53,800 --> 00:15:00,760 Speaker 4: Okay, perfect sounds good. All right, the we are back, 329 00:15:00,920 --> 00:15:04,040 Speaker 4: we're talking about the lipstick index today. I guess I'm 330 00:15:04,080 --> 00:15:08,040 Speaker 4: wondering what else does well because I know it can't 331 00:15:08,040 --> 00:15:10,680 Speaker 4: just be lipstick? Is it all cosmetics? What are the 332 00:15:10,720 --> 00:15:12,400 Speaker 4: other little things that do well in a time? 333 00:15:12,520 --> 00:15:15,440 Speaker 5: Obviously it's not lipstick, because as you said before, you're 334 00:15:15,440 --> 00:15:17,560 Speaker 5: not ellipstick kind of gal, and you're not going to 335 00:15:17,600 --> 00:15:21,200 Speaker 5: go buy ellipstick. But I guarantee there's like small luxuries 336 00:15:21,200 --> 00:15:23,240 Speaker 5: that you would be putting your money into. So it 337 00:15:23,240 --> 00:15:25,520 Speaker 5: could be anything. It could be skin care, it could 338 00:15:25,520 --> 00:15:29,000 Speaker 5: be perfume, it could be premium hair care because and 339 00:15:29,200 --> 00:15:31,200 Speaker 5: when I say premium hancaan, we're not talking about a 340 00:15:31,240 --> 00:15:33,200 Speaker 5: dice in air rap. Not everybody has. I think they're 341 00:15:33,200 --> 00:15:35,960 Speaker 5: close to one thousand dollars now, which blows my mind. 342 00:15:36,080 --> 00:15:39,440 Speaker 5: Absolutely worth it from my perspective, but definitely not an 343 00:15:39,480 --> 00:15:42,720 Speaker 5: affordable luxury, but like a bottle of Oliplex, like what 344 00:15:42,880 --> 00:15:45,320 Speaker 5: you were talking about before. It can be like fifty 345 00:15:45,360 --> 00:15:47,880 Speaker 5: bucks for a bottle of oliplex. But I would assume 346 00:15:47,880 --> 00:15:50,680 Speaker 5: that those sales increase during that period of time, and 347 00:15:50,720 --> 00:15:53,440 Speaker 5: we know those sales increase during that period of time 348 00:15:53,760 --> 00:15:56,960 Speaker 5: because they are seen to be more of an affordable luxury. 349 00:15:57,320 --> 00:15:59,440 Speaker 5: Like back to your example, You're not going to go 350 00:15:59,480 --> 00:16:01,760 Speaker 5: to the seal on and spend six hundred dollars getting 351 00:16:01,760 --> 00:16:04,800 Speaker 5: bleached hair, but you might go and go, all right, 352 00:16:04,840 --> 00:16:06,120 Speaker 5: I'm going to bleach my hair at home, and then 353 00:16:06,120 --> 00:16:07,920 Speaker 5: I'm going to buy the fifty dollars Oliplex to make 354 00:16:07,960 --> 00:16:10,320 Speaker 5: sure that everything is a okay and of course be 355 00:16:10,400 --> 00:16:13,760 Speaker 5: good to go. Things like clothing and shoes and going 356 00:16:13,840 --> 00:16:17,640 Speaker 5: to the movies and types of entertainment are also likely 357 00:16:17,760 --> 00:16:20,640 Speaker 5: to do really well during a recession. A lot of 358 00:16:20,640 --> 00:16:23,040 Speaker 5: people make decisions like, oh, maybe I'll just like sign 359 00:16:23,120 --> 00:16:26,440 Speaker 5: up for Stan instead of you know, going out as much, 360 00:16:26,520 --> 00:16:31,120 Speaker 5: so they justify smaller expenses because from their perspective, like, oh, 361 00:16:31,160 --> 00:16:33,640 Speaker 5: and please don't quote me on this fourteen bucks a month, 362 00:16:33,760 --> 00:16:36,320 Speaker 5: maybe I cannot remember for the life of me what 363 00:16:36,360 --> 00:16:37,840 Speaker 5: my Stan subscription is. 364 00:16:37,880 --> 00:16:40,320 Speaker 4: It's been nice, thank you, thank you. 365 00:16:41,320 --> 00:16:44,920 Speaker 5: So rude, but I cannot, for the life I don't 366 00:16:44,920 --> 00:16:46,720 Speaker 5: even think I've got stand at the moment. Just to 367 00:16:46,800 --> 00:16:49,800 Speaker 5: back you back into your corner fair enough, I definitely 368 00:16:49,800 --> 00:16:50,520 Speaker 5: have Netflix. 369 00:16:50,720 --> 00:16:51,960 Speaker 1: I can't remember what that is. 370 00:16:52,280 --> 00:16:55,200 Speaker 5: Mostly nice. You can have my login if you want to. Yeah, 371 00:16:55,200 --> 00:16:57,720 Speaker 5: you're welcome, You're welcome. But these are in a good 372 00:16:57,760 --> 00:17:01,000 Speaker 5: position as well. And then lower to me toe restaurants 373 00:17:01,120 --> 00:17:03,320 Speaker 5: and more premium priced. 374 00:17:02,920 --> 00:17:04,439 Speaker 1: Alcohol that you buy the bottle. 375 00:17:04,440 --> 00:17:06,840 Speaker 5: Oh, so we're not talking about people go to the 376 00:17:06,960 --> 00:17:09,760 Speaker 5: mid range restaurant and order a bottle of like really 377 00:17:09,760 --> 00:17:12,880 Speaker 5: expensive champagne. But if you went to Dan Murphy's, people 378 00:17:12,960 --> 00:17:15,239 Speaker 5: are more likely to, you know, treat themselves with like 379 00:17:15,280 --> 00:17:17,520 Speaker 5: a thirty or forty dollar bottle of wine instead of 380 00:17:17,560 --> 00:17:19,840 Speaker 5: the like fifteen dollar bottle of wine that they usually 381 00:17:19,840 --> 00:17:22,160 Speaker 5: got because they feel like they're missing out in other 382 00:17:22,240 --> 00:17:24,600 Speaker 5: areas of their life. Because people basically want to treat 383 00:17:24,640 --> 00:17:28,119 Speaker 5: themselves to something that lets them forget about their financial 384 00:17:28,119 --> 00:17:31,040 Speaker 5: stresses and they'll go to a movie, but they probably 385 00:17:31,080 --> 00:17:34,399 Speaker 5: won't go overseas because that puts way too much financial strain. 386 00:17:34,480 --> 00:17:37,200 Speaker 5: On before the breakback, I was talking to you about 387 00:17:37,240 --> 00:17:41,040 Speaker 5: TikTok and how that seems like it's just it's frustrating me. 388 00:17:41,119 --> 00:17:42,919 Speaker 5: Like there's so many times that I really want to, 389 00:17:42,960 --> 00:17:45,640 Speaker 5: like you can duet on TikTok. I feel so old 390 00:17:45,640 --> 00:17:47,960 Speaker 5: when I explain this, but I really want to jeet it. 391 00:17:48,000 --> 00:17:49,760 Speaker 5: But then I don't want to come across as like 392 00:17:49,800 --> 00:17:52,440 Speaker 5: condescending or rude or mean, and I'm not being that. 393 00:17:52,520 --> 00:17:53,960 Speaker 1: I just want to be like, hey, like. 394 00:17:53,960 --> 00:17:56,520 Speaker 5: This is a really good video and I really like it, 395 00:17:56,640 --> 00:17:59,959 Speaker 5: but like that's not reasonable to expect that a normal 396 00:18:00,080 --> 00:18:03,199 Speaker 5: salary and wayjourning human being would actually have a thousand 397 00:18:03,240 --> 00:18:05,840 Speaker 5: dollar pair of shoes and like cost per ware. Yeah, 398 00:18:05,880 --> 00:18:08,240 Speaker 5: like let's talk about cost per ware. That makes sense, 399 00:18:08,520 --> 00:18:10,840 Speaker 5: but like on a thousand dollars pair of shoes, that's 400 00:18:10,840 --> 00:18:12,760 Speaker 5: still not reasonable from my perspective. 401 00:18:12,840 --> 00:18:14,719 Speaker 4: You're a vigilante, I think you should do it. 402 00:18:14,800 --> 00:18:16,640 Speaker 5: Oh yeah, but I don't want to be rude because 403 00:18:16,640 --> 00:18:19,919 Speaker 5: it's kind of like their intent is really beautiful, but 404 00:18:19,960 --> 00:18:23,000 Speaker 5: it's also like, can we reframe this because normal people 405 00:18:23,320 --> 00:18:26,240 Speaker 5: cannot afford that, Like that's not normal, Like that content 406 00:18:26,359 --> 00:18:29,320 Speaker 5: isn't normal. Anyway, My point there is that social media 407 00:18:29,359 --> 00:18:32,560 Speaker 5: really does play a big part in determining what category 408 00:18:32,600 --> 00:18:35,480 Speaker 5: benefits from the lipstick effect based on trends and what 409 00:18:35,520 --> 00:18:37,760 Speaker 5: you're seeing on social media and consuming it. 410 00:18:37,720 --> 00:18:39,960 Speaker 4: Sounds like literally all I spend my money on during 411 00:18:40,000 --> 00:18:41,240 Speaker 4: good times and bad times. 412 00:18:41,440 --> 00:18:44,400 Speaker 5: I wonder like, oh, I'm just spending money. That's why 413 00:18:44,520 --> 00:18:46,680 Speaker 5: have you on the show. Because I feel like we've 414 00:18:46,760 --> 00:18:49,239 Speaker 5: got work to do. Yeah, okay, I've got a lot 415 00:18:49,280 --> 00:18:50,840 Speaker 5: to learn. I've got a lot to learn. But I 416 00:18:50,840 --> 00:18:53,639 Speaker 5: guess my question is what are we actually cutting back 417 00:18:53,720 --> 00:18:56,919 Speaker 5: on then? So obviously big ticket stuff, so all of 418 00:18:56,920 --> 00:18:59,159 Speaker 5: the opposites of everything that I just said, so like 419 00:18:59,480 --> 00:19:03,200 Speaker 5: expensive restaurants and going on holidays. But we also see 420 00:19:03,200 --> 00:19:06,399 Speaker 5: it in the statistics around like home sales, So people 421 00:19:06,400 --> 00:19:09,400 Speaker 5: aren't buying big luxury homes, they're not even buying their 422 00:19:09,440 --> 00:19:13,560 Speaker 5: average standard home. Because during a time of recession, often 423 00:19:13,600 --> 00:19:17,320 Speaker 5: our interest rates increase to kind of juxtapose what's going 424 00:19:17,359 --> 00:19:19,840 Speaker 5: on and make things go back to normal. So during 425 00:19:19,880 --> 00:19:22,240 Speaker 5: a period of time where we're in a recession, it's 426 00:19:22,359 --> 00:19:25,800 Speaker 5: much less likely that people are buying their first family homes. 427 00:19:26,119 --> 00:19:28,520 Speaker 5: It's less likely that people are going out and buying 428 00:19:28,560 --> 00:19:30,959 Speaker 5: brand new cars, even if they need them. They're more 429 00:19:31,080 --> 00:19:33,720 Speaker 5: likely to kind of push that purchase off because we're 430 00:19:33,720 --> 00:19:36,879 Speaker 5: a bit anxious about it. So anything from you know, 431 00:19:37,080 --> 00:19:39,840 Speaker 5: electronics and you know, white goods and stuff like that, 432 00:19:39,920 --> 00:19:42,359 Speaker 5: all the way through to big home renovations. Like, people 433 00:19:42,400 --> 00:19:44,840 Speaker 5: aren't going to agree to, you know, chucking one hundred 434 00:19:44,880 --> 00:19:47,560 Speaker 5: thousand dollars into their home if they're seeing their friends 435 00:19:47,560 --> 00:19:50,720 Speaker 5: and family go through rough financial periods of time. And 436 00:19:50,760 --> 00:19:52,679 Speaker 5: it's not because they don't want their friends and family 437 00:19:52,720 --> 00:19:55,080 Speaker 5: seeing that, they kind of get an idea in their 438 00:19:55,119 --> 00:19:57,520 Speaker 5: head that they're like, oh, I could be next. So 439 00:19:57,640 --> 00:19:59,879 Speaker 5: this period of time, we're cutting back on this. But 440 00:20:00,040 --> 00:20:03,720 Speaker 5: I think it's really important to then be thinking about, right, well, 441 00:20:03,760 --> 00:20:06,800 Speaker 5: where are our emergency funds? How much do I have saved? 442 00:20:06,880 --> 00:20:08,440 Speaker 5: Do I maybe want to have a little bit more 443 00:20:08,440 --> 00:20:10,960 Speaker 5: saved if I'm anxious? And how does that work? So 444 00:20:11,080 --> 00:20:14,040 Speaker 5: if you haven't got an emergency fund and you haven't 445 00:20:14,119 --> 00:20:16,480 Speaker 5: really thought about it until twenty twenty three, and twenty 446 00:20:16,520 --> 00:20:19,119 Speaker 5: twenty three is your year to get your financial stuff sorted, 447 00:20:19,680 --> 00:20:22,200 Speaker 5: that would be the place that I start, because Beck, 448 00:20:22,359 --> 00:20:27,080 Speaker 5: I'm such a big believer in financial freedom being accessible 449 00:20:27,119 --> 00:20:29,720 Speaker 5: at any income, and I know that that seems to 450 00:20:29,760 --> 00:20:32,119 Speaker 5: be a little bit backwards because to a lot of people, 451 00:20:32,200 --> 00:20:33,680 Speaker 5: financial freedom means that. 452 00:20:33,640 --> 00:20:35,240 Speaker 1: You never have to go to work and you've got 453 00:20:35,280 --> 00:20:36,080 Speaker 1: like this big. 454 00:20:35,880 --> 00:20:38,480 Speaker 5: Investment that pays you enough each and every single month 455 00:20:38,560 --> 00:20:42,480 Speaker 5: or year to exist without work. Right, But from my perspective, 456 00:20:42,560 --> 00:20:46,400 Speaker 5: financial freedom isn't just that, like, yes, that's the big outcome, 457 00:20:46,480 --> 00:20:48,200 Speaker 5: Like that's big dog energy. 458 00:20:48,040 --> 00:20:48,760 Speaker 1: That's the energy. 459 00:20:48,840 --> 00:20:51,720 Speaker 5: Yeah, exactly, that's so exciting. But we can't have that 460 00:20:51,800 --> 00:20:53,880 Speaker 5: in the here and now. But what can give us 461 00:20:53,920 --> 00:20:57,160 Speaker 5: financial freedom is an emergency fund so that if something 462 00:20:57,200 --> 00:21:00,640 Speaker 5: pops up, or an unexpected bill or an emergency happens, 463 00:21:00,680 --> 00:21:03,719 Speaker 5: we have the financial freedom to pay for that and 464 00:21:03,800 --> 00:21:07,000 Speaker 5: not go into debt or to go, Oh it doesn't matter, 465 00:21:07,080 --> 00:21:09,320 Speaker 5: that's okay. I'm going to pay for flights to go, 466 00:21:09,520 --> 00:21:12,080 Speaker 5: you know, see a sick parent or relative into state 467 00:21:12,119 --> 00:21:13,920 Speaker 5: because I have the money for those flights and I 468 00:21:14,000 --> 00:21:16,240 Speaker 5: don't have to second guess it. And to me, that 469 00:21:16,440 --> 00:21:19,600 Speaker 5: is a really, really big part of financial freedom is 470 00:21:19,600 --> 00:21:21,920 Speaker 5: setting yourself up so that you don't have to say 471 00:21:21,960 --> 00:21:24,880 Speaker 5: no because you can't afford it. And I mean, when 472 00:21:24,880 --> 00:21:26,919 Speaker 5: it comes to an emergency fund, we're not saying. 473 00:21:26,800 --> 00:21:29,199 Speaker 1: Go to Europe with your girlfriends like that to me, 474 00:21:29,480 --> 00:21:31,400 Speaker 1: is not what your emergency fund is for. 475 00:21:31,560 --> 00:21:34,159 Speaker 5: It's more for those things that pop up so that 476 00:21:34,240 --> 00:21:37,040 Speaker 5: you can either get into a situation you need to 477 00:21:37,040 --> 00:21:39,399 Speaker 5: be in or get out of a situation that you 478 00:21:39,440 --> 00:21:41,040 Speaker 5: don't want to be in. Like Beck, what if one 479 00:21:41,119 --> 00:21:43,480 Speaker 5: day you went home and all your housemates were They've 480 00:21:43,520 --> 00:21:46,720 Speaker 5: gone rancid. They have absolutely gone feral, and you can't 481 00:21:46,760 --> 00:21:51,080 Speaker 5: live right. Yeah, they've ruined the house, they've decided to 482 00:21:51,080 --> 00:21:53,480 Speaker 5: grow drugs in the laundry or something, and you're like, 483 00:21:53,480 --> 00:21:55,840 Speaker 5: I can't live here anymore. But if you didn't have 484 00:21:55,920 --> 00:21:58,840 Speaker 5: the finances to get yourself out of that circumstance, you 485 00:21:58,920 --> 00:22:02,359 Speaker 5: might just be stuck there. But financial freedom is having 486 00:22:02,480 --> 00:22:05,399 Speaker 5: enough finances behind you to get out of any circumstance 487 00:22:05,480 --> 00:22:08,199 Speaker 5: or situation you don't want to be in because you 488 00:22:08,240 --> 00:22:10,280 Speaker 5: shouldn't have to be in that. And that doesn't matter 489 00:22:10,320 --> 00:22:14,200 Speaker 5: whether that's a housemates situation or a relationship, or even 490 00:22:14,359 --> 00:22:15,880 Speaker 5: just you're on a holiday and you want to fly 491 00:22:16,000 --> 00:22:17,720 Speaker 5: home because you're no longer come forgive it with the 492 00:22:17,760 --> 00:22:20,800 Speaker 5: friends that you're with, right, Like, I think financial freedom 493 00:22:20,840 --> 00:22:23,440 Speaker 5: to me means so much more. And if we're talking 494 00:22:23,440 --> 00:22:25,720 Speaker 5: about what people are cutting back on, I think that 495 00:22:25,760 --> 00:22:28,800 Speaker 5: we also need to really juxtapose that with well, where 496 00:22:28,800 --> 00:22:31,399 Speaker 5: should we be putting our money during this period of time, 497 00:22:31,440 --> 00:22:33,520 Speaker 5: because I think a lot of people just get anxious 498 00:22:33,520 --> 00:22:36,080 Speaker 5: and then stop doing anything, and then they see all 499 00:22:36,119 --> 00:22:38,520 Speaker 5: of these smaller things and you might not be spending 500 00:22:38,600 --> 00:22:41,240 Speaker 5: you know, you might go, oh, financial times are tough. 501 00:22:41,320 --> 00:22:43,399 Speaker 5: Let's not spend seven hundred and fifty dollars on a 502 00:22:43,400 --> 00:22:44,400 Speaker 5: new washing machine. 503 00:22:44,480 --> 00:22:46,600 Speaker 1: We'll put that off. That makes sense. 504 00:22:46,920 --> 00:22:49,199 Speaker 5: But if then you're not thinking about your money and 505 00:22:49,240 --> 00:22:52,240 Speaker 5: you're going to Priceline every couple of weeks and spending 506 00:22:52,280 --> 00:22:54,560 Speaker 5: thirty dollars here in there, like that's going to add 507 00:22:54,640 --> 00:22:57,160 Speaker 5: up to that seven hundred and fifty dollars and you've 508 00:22:57,200 --> 00:22:59,800 Speaker 5: lost that money. And if I put a pile of 509 00:22:59,840 --> 00:23:02,280 Speaker 5: my cup on the bench, and also the washing machine, 510 00:23:02,320 --> 00:23:04,480 Speaker 5: is that beck? Which one do you want? You'd be like, well, 511 00:23:04,480 --> 00:23:06,840 Speaker 5: I needed the washing machine. But because you had your 512 00:23:06,840 --> 00:23:09,280 Speaker 5: head in the sand, that money fell to the wayside 513 00:23:09,320 --> 00:23:12,520 Speaker 5: and you didn't actually make the most of your financial circumstances. So, 514 00:23:12,880 --> 00:23:15,320 Speaker 5: from my perspective, yes, we're cutting back on things, but 515 00:23:15,440 --> 00:23:18,160 Speaker 5: it should be really purposeful and we should be really 516 00:23:18,200 --> 00:23:19,080 Speaker 5: thinking about it. 517 00:23:19,160 --> 00:23:20,480 Speaker 1: Thank you for coming to my TED talk. 518 00:23:22,600 --> 00:23:26,400 Speaker 4: Financial freedom actually sounds like heaven. It's so sick, it's 519 00:23:26,640 --> 00:23:28,359 Speaker 4: kind of sexy. I feel like that could be the 520 00:23:28,400 --> 00:23:30,479 Speaker 4: life for us. I mean, I mean for you, it's 521 00:23:30,520 --> 00:23:32,040 Speaker 4: already maybe you've already they had it. 522 00:23:32,160 --> 00:23:35,040 Speaker 5: Well, I do have an emergency fund, and that's something 523 00:23:35,040 --> 00:23:38,800 Speaker 5: that makes me feel really good about the circumstances that 524 00:23:38,880 --> 00:23:39,200 Speaker 5: I have. 525 00:23:39,359 --> 00:23:40,960 Speaker 1: Like, you know, what if I didn't want to be 526 00:23:41,040 --> 00:23:45,720 Speaker 1: with Steve anymore? Well, I don't. I love him. I 527 00:23:45,720 --> 00:23:48,000 Speaker 1: don't want to make that decision. I love him so much. 528 00:23:48,040 --> 00:23:49,080 Speaker 4: To decide right now. 529 00:23:49,160 --> 00:23:52,800 Speaker 5: Yeah, but like what if something happened like that? Is 530 00:23:52,840 --> 00:23:55,560 Speaker 5: the one thing that keeps people in relationships they don't 531 00:23:55,600 --> 00:23:57,920 Speaker 5: want to be in is finances. Like I don't think 532 00:23:57,960 --> 00:24:00,600 Speaker 5: anyone in our community should be in that circle ccumstance. 533 00:24:00,840 --> 00:24:02,840 Speaker 5: And when I say relationships, we're not just talking about 534 00:24:02,840 --> 00:24:05,280 Speaker 5: your partner. We could be talking about your family circumstances. 535 00:24:05,359 --> 00:24:08,000 Speaker 5: We could be talking about your work, your relationship with 536 00:24:08,040 --> 00:24:11,040 Speaker 5: your boss, that's a relationship too. And what if it's 537 00:24:11,119 --> 00:24:14,199 Speaker 5: such a toxic environment that you need to leave but 538 00:24:14,320 --> 00:24:16,399 Speaker 5: you can't because you don't have the funds behind you. 539 00:24:16,640 --> 00:24:18,440 Speaker 1: What if I said, oh, Beck, well you've actually. 540 00:24:18,160 --> 00:24:20,200 Speaker 5: Got three months worth of savings, like you could quit 541 00:24:20,240 --> 00:24:22,200 Speaker 5: now and look for another job and actually everything would 542 00:24:22,200 --> 00:24:25,000 Speaker 5: be okay, and your mental health is absolutely the biggest 543 00:24:25,000 --> 00:24:27,800 Speaker 5: priority right now. You'd be like, Oh, that takes the 544 00:24:27,840 --> 00:24:31,199 Speaker 5: pressure off, taking their pressure off ourselves. 545 00:24:31,359 --> 00:24:31,719 Speaker 4: Yeah. 546 00:24:31,760 --> 00:24:35,199 Speaker 5: So anyway that we've talked about emergency funds before, I 547 00:24:35,320 --> 00:24:38,320 Speaker 5: keep talking about them literally forever, but they're really. 548 00:24:38,119 --> 00:24:41,320 Speaker 4: So important now, just coming back to the lipstick index, Yes, 549 00:24:41,440 --> 00:24:43,680 Speaker 4: is that what this episode is about? Yeah, I actually forgot. 550 00:24:43,760 --> 00:24:45,359 Speaker 5: I just have so much stuff that I want to 551 00:24:45,359 --> 00:24:47,160 Speaker 5: give you guys this year that I'm like, let's pack 552 00:24:47,200 --> 00:24:48,160 Speaker 5: it into this episode. 553 00:24:48,240 --> 00:24:50,919 Speaker 4: We really appreciate it. You were mentioning before V that 554 00:24:50,960 --> 00:24:54,160 Speaker 4: it's easier to make little, cheap, superficial changes than costly 555 00:24:54,200 --> 00:24:58,160 Speaker 4: ones when we're financially under pressure. Do you think there's 556 00:24:58,240 --> 00:25:03,000 Speaker 4: like a deeper psychological behind what makes lipstick cosmetics other 557 00:25:03,040 --> 00:25:05,160 Speaker 4: beauty products so popular at a time like. 558 00:25:05,119 --> 00:25:06,280 Speaker 1: This, Yeah, one hundred percent. 559 00:25:06,600 --> 00:25:08,520 Speaker 5: So there was actually a study that was done in 560 00:25:08,600 --> 00:25:11,400 Speaker 5: twenty twelve, so a while ago. Do you know, twenty 561 00:25:11,440 --> 00:25:13,080 Speaker 5: twelve was actually ages ago, It was more than ten 562 00:25:13,119 --> 00:25:15,040 Speaker 5: years ago. It doesn't feel that way though. It's twenty 563 00:25:15,080 --> 00:25:18,000 Speaker 5: twenty three. Wild anyway, But this study done in twenty 564 00:25:18,000 --> 00:25:21,520 Speaker 5: twelve found that the lipstick effect is deeply rooted in 565 00:25:21,560 --> 00:25:26,640 Speaker 5: mating psychology. No, yeah, sexy, right, so that's sorry. Sarah Hill, 566 00:25:27,040 --> 00:25:30,400 Speaker 5: who was the person behind the study, found that during quote, 567 00:25:30,640 --> 00:25:34,960 Speaker 5: periods of scarcity, women see a decrease in the availability 568 00:25:35,000 --> 00:25:39,320 Speaker 5: of quality mates. So Hill has said that because unemployment 569 00:25:39,359 --> 00:25:42,640 Speaker 5: and low returns on investments occur at a higher rate 570 00:25:42,800 --> 00:25:47,080 Speaker 5: during recessions, a recession makes signal to women that financially 571 00:25:47,119 --> 00:25:51,040 Speaker 5: secure men are becoming relatively scarce. Okay, And while this 572 00:25:51,160 --> 00:25:54,480 Speaker 5: might seem really superficial, and from my perspective, I think 573 00:25:54,480 --> 00:25:58,240 Speaker 5: that financial security in a partner, any partner, is very sexy. 574 00:25:58,640 --> 00:26:02,439 Speaker 5: Hill has conducted four separate experiments, not just one, not 575 00:26:02,520 --> 00:26:05,960 Speaker 5: just one, and all have said, yes, that effect does exist, 576 00:26:06,400 --> 00:26:09,679 Speaker 5: and that times of economic stress see an increase in 577 00:26:09,760 --> 00:26:13,080 Speaker 5: women's desire to buy products like lipstick or designer genes 578 00:26:13,200 --> 00:26:15,959 Speaker 5: or high heeled boots and perfume and they're just not 579 00:26:16,080 --> 00:26:19,560 Speaker 5: interested in men as much or not interested in having 580 00:26:19,600 --> 00:26:21,600 Speaker 5: a partner as much because they're like, man, they're not 581 00:26:21,640 --> 00:26:22,719 Speaker 5: that financially secure. 582 00:26:22,840 --> 00:26:24,520 Speaker 1: Get in the bin. I'm gonna go make. 583 00:26:24,359 --> 00:26:27,199 Speaker 5: Myself look chic and ten out of ten and I 584 00:26:27,240 --> 00:26:29,800 Speaker 5: find it's super super interesting and obviously beg that's super 585 00:26:29,840 --> 00:26:34,679 Speaker 5: heteronormative and not relate. No, No, That's why I was like, 586 00:26:34,720 --> 00:26:39,280 Speaker 5: probably not related to you, but on a base mating level, 587 00:26:39,359 --> 00:26:42,600 Speaker 5: Like if women are looking at men in general, something 588 00:26:42,680 --> 00:26:46,120 Speaker 5: that women from a psychology perspective look for when they 589 00:26:46,200 --> 00:26:49,000 Speaker 5: are looking for a male partner is a level of security. 590 00:26:50,240 --> 00:26:52,679 Speaker 5: So it kind of makes sense that this makes sense. 591 00:26:53,119 --> 00:26:56,439 Speaker 5: I'd be interested to see if that experiment in twenty 592 00:26:56,520 --> 00:26:59,280 Speaker 5: twenty three could be pushed out, because you know, during 593 00:26:59,320 --> 00:27:01,520 Speaker 5: this period of time it's a recession. We could do 594 00:27:01,560 --> 00:27:03,840 Speaker 5: the research again, and I would like to see it 595 00:27:03,880 --> 00:27:06,919 Speaker 5: as a if people in general are looking for a partner, 596 00:27:07,040 --> 00:27:09,119 Speaker 5: what would that look like during a recession, because I 597 00:27:09,160 --> 00:27:10,840 Speaker 5: think that would actually be extra juicy. 598 00:27:11,040 --> 00:27:13,280 Speaker 4: I mean, it's twenty twenty three. I feel like the 599 00:27:13,440 --> 00:27:14,840 Speaker 4: results will be a little bit different. 600 00:27:14,960 --> 00:27:17,159 Speaker 5: I just think in general people will be like, oh, 601 00:27:17,200 --> 00:27:18,359 Speaker 5: I don't want to partner. I don't want to have 602 00:27:18,359 --> 00:27:19,520 Speaker 5: to pay for going on dates. 603 00:27:19,600 --> 00:27:21,720 Speaker 1: You know, Like, I don't think this has got anything. 604 00:27:21,440 --> 00:27:22,160 Speaker 4: To do with gender. 605 00:27:22,200 --> 00:27:23,399 Speaker 5: You're like, I don't want to go on a date 606 00:27:23,440 --> 00:27:25,000 Speaker 5: because I don't want to have to pay for it, 607 00:27:25,119 --> 00:27:26,600 Speaker 5: And like, what if I have to pay for the 608 00:27:26,640 --> 00:27:27,040 Speaker 5: whole date? 609 00:27:27,119 --> 00:27:28,880 Speaker 1: Hell no, let's just not do it. I'm a buy 610 00:27:28,880 --> 00:27:30,320 Speaker 1: myself a lipstick. Exactly. 611 00:27:30,359 --> 00:27:34,840 Speaker 4: It's expensive dating and that's why I'm still very much single. 612 00:27:35,119 --> 00:27:35,320 Speaker 2: Ah. 613 00:27:35,440 --> 00:27:38,280 Speaker 5: That's that's a suggestion to those in the community that 614 00:27:38,359 --> 00:27:41,520 Speaker 5: might find backing, yes, moving on anything. 615 00:27:43,080 --> 00:27:45,880 Speaker 4: So v can I ask what's an affordable luxury to you? 616 00:27:46,600 --> 00:27:46,840 Speaker 6: Ah? 617 00:27:46,920 --> 00:27:48,840 Speaker 5: This is such a good question because I feel like 618 00:27:49,000 --> 00:27:51,280 Speaker 5: so many this is a trend on TikTok at the moment, too, 619 00:27:51,600 --> 00:27:53,399 Speaker 5: all I'm doing is talking about TikTok because we've just 620 00:27:53,440 --> 00:27:55,320 Speaker 5: come back from holidays and like, I spent a lot 621 00:27:55,359 --> 00:27:58,520 Speaker 5: of time on the internet. But for me, having thought 622 00:27:58,520 --> 00:28:01,320 Speaker 5: about this over the brain, I feel like an affordable 623 00:28:01,400 --> 00:28:05,600 Speaker 5: luxury obviously, like fluffily, enough is time. 624 00:28:06,080 --> 00:28:09,040 Speaker 1: But if I've got some time, I want. 625 00:28:08,880 --> 00:28:12,320 Speaker 5: Fresh sheets, beck, like real crispy fresh sheets and a 626 00:28:12,320 --> 00:28:15,240 Speaker 5: cup of tea in bed with a book and literally 627 00:28:15,320 --> 00:28:18,440 Speaker 5: nowhere to be like like a Sunday morning. Like to me, 628 00:28:18,600 --> 00:28:21,439 Speaker 5: that's a really good affordable luxury where it's kind of 629 00:28:21,480 --> 00:28:25,040 Speaker 5: like I'm enjoying my time, like I'm snuggy, I'm having 630 00:28:25,080 --> 00:28:28,240 Speaker 5: a good day, Whereas to somebody else they'd be like, 631 00:28:28,480 --> 00:28:31,000 Speaker 5: I hate spending time in bed, Victoria, like from wake, 632 00:28:31,040 --> 00:28:33,080 Speaker 5: I'm up and out, like my business partner Kate, like 633 00:28:33,119 --> 00:28:35,439 Speaker 5: I cannot imagine her lying in bed and enjoying it. 634 00:28:35,920 --> 00:28:38,960 Speaker 1: But what about you, what's an affordable luxury? 635 00:28:39,040 --> 00:28:42,240 Speaker 4: Well, yours sounds actually very wholesome, and mine won't sound 636 00:28:42,320 --> 00:28:42,800 Speaker 4: very wholesome. 637 00:28:42,840 --> 00:28:45,520 Speaker 1: It's okay, we are who we are, beck, Are you 638 00:28:45,520 --> 00:28:46,400 Speaker 1: gonna say hair bleach? 639 00:28:47,280 --> 00:28:47,920 Speaker 4: I think so. 640 00:28:48,640 --> 00:28:50,440 Speaker 1: I knew you would, but I think that's good. 641 00:28:51,800 --> 00:28:54,360 Speaker 4: An affordable luxury to me would be going to the 642 00:28:54,400 --> 00:28:57,320 Speaker 4: pub with mates, to sitting around in the bier garden, 643 00:28:57,760 --> 00:28:59,760 Speaker 4: and I usually get a soda water believe it or not, 644 00:28:59,800 --> 00:29:02,080 Speaker 4: fit so it's still actually I do. 645 00:29:02,240 --> 00:29:05,400 Speaker 1: I'm smart, all man, thank you. Sometimes they're free too. 646 00:29:05,560 --> 00:29:06,200 Speaker 1: Sometimes they're free. 647 00:29:06,240 --> 00:29:08,400 Speaker 4: They're either free or max two dollars. 648 00:29:08,520 --> 00:29:11,360 Speaker 5: Yeah, yeah, yeah, that's an affordable luxury and affordable luxury. 649 00:29:11,400 --> 00:29:13,720 Speaker 5: But I also think it really depends on who you 650 00:29:13,800 --> 00:29:16,280 Speaker 5: are and what that looks like. Because we're talking about 651 00:29:16,280 --> 00:29:18,360 Speaker 5: this before the show, and I was like, oh, like, 652 00:29:18,520 --> 00:29:20,880 Speaker 5: another thing that I really like is a good coffee, 653 00:29:21,200 --> 00:29:23,560 Speaker 5: Like and I think that's an affordable luxury that fits 654 00:29:23,600 --> 00:29:26,320 Speaker 5: into my budget, and to me, that's one thing that 655 00:29:26,400 --> 00:29:28,880 Speaker 5: I won't remove from my budget. So like Steve and 656 00:29:28,920 --> 00:29:31,200 Speaker 5: I go for a walk every morning with our dog Lucy, 657 00:29:31,520 --> 00:29:33,560 Speaker 5: and we go to the cafe and we get a coffee. 658 00:29:33,800 --> 00:29:35,800 Speaker 5: And you could say, oh, eye, but you'd save so 659 00:29:35,880 --> 00:29:36,800 Speaker 5: much money if you made. 660 00:29:36,640 --> 00:29:37,360 Speaker 1: The coffee at home. 661 00:29:37,440 --> 00:29:39,480 Speaker 5: And I'm like, oh, but that's like a luxury to me, 662 00:29:39,600 --> 00:29:42,280 Speaker 5: Like that's something yeah, like we love the experience. I 663 00:29:42,440 --> 00:29:44,920 Speaker 5: love a good coffee, and I think it's to me 664 00:29:45,080 --> 00:29:46,800 Speaker 5: that makes sense. But then there are other people that 665 00:29:46,800 --> 00:29:48,280 Speaker 5: would be like, oh, I cut coffee out of my 666 00:29:48,280 --> 00:29:50,000 Speaker 5: budget and I save twelve hundred dollars a year, and 667 00:29:50,040 --> 00:29:52,520 Speaker 5: like that makes sense because that might not be worth 668 00:29:52,600 --> 00:29:55,440 Speaker 5: it to you. So I think this concept of affordable 669 00:29:55,520 --> 00:29:58,760 Speaker 5: luxuries is really personal and I think that's really good. 670 00:29:59,160 --> 00:30:02,200 Speaker 5: But the thing that then overlays on that is to me, 671 00:30:02,440 --> 00:30:04,640 Speaker 5: and this might sound really fluffy, but it's she's on 672 00:30:04,640 --> 00:30:05,040 Speaker 5: the money. 673 00:30:05,080 --> 00:30:07,240 Speaker 1: So Bear with me is a. 674 00:30:07,240 --> 00:30:11,480 Speaker 5: Level of gratitude as well. So to think about affordable luxuries, 675 00:30:11,520 --> 00:30:14,560 Speaker 5: you actually have to put your gratitude hat on and go, oh, 676 00:30:14,600 --> 00:30:15,719 Speaker 5: like what am I grateful for? 677 00:30:15,840 --> 00:30:17,240 Speaker 1: That's maybe not you know. 678 00:30:17,240 --> 00:30:20,080 Speaker 5: A flat screen TV or going to Europe or like 679 00:30:20,200 --> 00:30:22,560 Speaker 5: something really big, Like what are the little things in 680 00:30:22,640 --> 00:30:25,800 Speaker 5: life that are affordable to me that make my life 681 00:30:25,840 --> 00:30:27,240 Speaker 5: better or make my life good? 682 00:30:27,520 --> 00:30:28,760 Speaker 1: And I've got a million of them. 683 00:30:28,760 --> 00:30:31,360 Speaker 5: I'm gonna make TikTok series on like my favorite afford 684 00:30:31,880 --> 00:30:34,280 Speaker 5: trees because I have heaps of them. Do you know 685 00:30:34,320 --> 00:30:36,680 Speaker 5: what another or one of my favorite affordable trees is. 686 00:30:36,800 --> 00:30:40,720 Speaker 5: Oh my gosh, it's so lame. Are you ready please? Okay, 687 00:30:40,840 --> 00:30:44,200 Speaker 5: so try so when I travel, Like, one thing that 688 00:30:44,240 --> 00:30:47,360 Speaker 5: I really like is the face washers, So like you know, 689 00:30:47,440 --> 00:30:49,720 Speaker 5: like a fresh clean face washer. 690 00:30:50,160 --> 00:30:50,400 Speaker 2: God. 691 00:30:51,000 --> 00:30:53,080 Speaker 5: So I went to Kmart and I bought like ten 692 00:30:53,120 --> 00:30:55,479 Speaker 5: of them because they're like a dollar at Kmart, and 693 00:30:55,520 --> 00:30:57,320 Speaker 5: I roll them up and I have a little tray 694 00:30:57,400 --> 00:30:59,760 Speaker 5: in my bathroom. Yeah, and every time I get in 695 00:30:59,760 --> 00:31:02,400 Speaker 5: the show, I have a brand new face washer. And 696 00:31:02,440 --> 00:31:04,760 Speaker 5: I know that, like, maybe that's normal to some people. 697 00:31:04,800 --> 00:31:06,840 Speaker 5: And I know some people because growing up I had 698 00:31:06,880 --> 00:31:09,000 Speaker 5: a face washer, and I just like left it hanging 699 00:31:09,080 --> 00:31:11,480 Speaker 5: in the bathroom and I just used the same one, 700 00:31:11,600 --> 00:31:13,480 Speaker 5: but I then like hang it over the side of 701 00:31:13,480 --> 00:31:15,280 Speaker 5: the shower and chuck it in the washing basket and 702 00:31:15,280 --> 00:31:16,400 Speaker 5: like it just goes through with. 703 00:31:16,320 --> 00:31:17,400 Speaker 1: The normal load. 704 00:31:17,520 --> 00:31:19,800 Speaker 5: Sure, but that those ten face washers cost me ten 705 00:31:19,840 --> 00:31:23,120 Speaker 5: bucks and I feel so lux when I use them. 706 00:31:23,120 --> 00:31:24,840 Speaker 5: I'm like grab my rolled up thing and I'm like 707 00:31:24,880 --> 00:31:26,720 Speaker 5: ready and I use my nice face wash and I 708 00:31:26,760 --> 00:31:30,040 Speaker 5: do that anyway. It's really lame, but to me that 709 00:31:30,120 --> 00:31:33,640 Speaker 5: makes me feel good. So affordable luxuries could literally be 710 00:31:33,760 --> 00:31:36,760 Speaker 5: anything like it's the way I'm washing my face back now, 711 00:31:36,840 --> 00:31:40,160 Speaker 5: I think is a little bit luxul But how can 712 00:31:40,200 --> 00:31:43,000 Speaker 5: you incorporate more things into your life that make you 713 00:31:43,040 --> 00:31:45,920 Speaker 5: feel good about the processes that you're going through? And 714 00:31:46,000 --> 00:31:48,440 Speaker 5: if me spending ten bucks on ten little face washers 715 00:31:48,440 --> 00:31:51,560 Speaker 5: from Kmart made me feel good one hundred percent great 716 00:31:51,600 --> 00:31:54,240 Speaker 5: affordable luxury and the last lifetime, well. 717 00:31:54,320 --> 00:31:55,200 Speaker 1: I don't know. I don't know. 718 00:31:55,320 --> 00:31:57,840 Speaker 5: Do you get them from Paymart and pro brand and 719 00:31:57,920 --> 00:32:00,320 Speaker 5: pro brand We don't know how long they're gonna last month, 720 00:32:00,400 --> 00:32:03,360 Speaker 5: but they definitely will be worth for ten bucks. 721 00:32:03,400 --> 00:32:05,280 Speaker 1: I've paid for that, Oh for sure, one hundred. 722 00:32:05,760 --> 00:32:08,320 Speaker 4: Actually, you've really talked me into it. How about let's 723 00:32:08,400 --> 00:32:09,720 Speaker 4: leave it here then I'm going to head off and 724 00:32:09,760 --> 00:32:13,240 Speaker 4: go by myself a ten one dollar face washers. Yeah, 725 00:32:13,320 --> 00:32:15,120 Speaker 4: and we'll meet back here soon. 726 00:32:15,240 --> 00:32:17,960 Speaker 5: I love it all right, guys, I am done for today, 727 00:32:18,120 --> 00:32:20,520 Speaker 5: but as always, we would love it if you joined 728 00:32:20,520 --> 00:32:23,479 Speaker 5: our Facebook group where our community shares money tips and 729 00:32:23,560 --> 00:32:27,160 Speaker 5: tricks every single day, free of judgment. So She's on 730 00:32:27,200 --> 00:32:29,800 Speaker 5: the Money on Facebook and join us if Facebook's don't 731 00:32:29,800 --> 00:32:31,880 Speaker 5: you think? We're on Instagram where She's on the Money 732 00:32:31,880 --> 00:32:35,680 Speaker 5: aus we are on TikTok and I'm posting literally twice 733 00:32:35,720 --> 00:32:38,360 Speaker 5: a day at She's on the Money. And as always, 734 00:32:38,560 --> 00:32:41,040 Speaker 5: new year, New mean new review. Don't forget to rate, 735 00:32:41,120 --> 00:32:46,240 Speaker 5: review or subscribe. But also, Beck, congratulations on the end 736 00:32:46,240 --> 00:32:47,800 Speaker 5: of your first ever deep dive. 737 00:32:48,200 --> 00:32:50,280 Speaker 4: Thank you so much, f that was a lot of fun. 738 00:32:50,480 --> 00:32:51,520 Speaker 1: I'm so excited about that. 739 00:32:51,640 --> 00:32:53,920 Speaker 4: I am so excited. I'm so excited for twenty twenty three. 740 00:32:54,040 --> 00:32:55,040 Speaker 1: Let's let's do it. 741 00:32:55,160 --> 00:32:57,600 Speaker 4: Match it out the part all right, See you on Friday, guys, 742 00:32:57,600 --> 00:33:00,120 Speaker 4: see you Friday. 743 00:33:04,480 --> 00:33:07,000 Speaker 6: The advice shared on She's on the Money is general 744 00:33:07,080 --> 00:33:10,880 Speaker 6: in nature and does not consider your individual circumstances. She's 745 00:33:10,960 --> 00:33:14,440 Speaker 6: on the Money exists purely for educational purposes and should 746 00:33:14,440 --> 00:33:17,640 Speaker 6: not be relied upon to make an investment or financial decision. 747 00:33:18,000 --> 00:33:20,440 Speaker 6: If you do choose to buy a financial product, read 748 00:33:20,480 --> 00:33:23,800 Speaker 6: the PDS TMD and obtain appropriate financial. 749 00:33:23,400 --> 00:33:25,200 Speaker 1: Advice tailored towards your needs. 750 00:33:25,520 --> 00:33:29,480 Speaker 6: Victoria Divine and She's on the Money are authorized representatives 751 00:33:29,520 --> 00:33:33,320 Speaker 6: of money. Sheirper pty Ltd ABN three two one IS 752 00:33:33,440 --> 00:33:37,280 Speaker 6: six four nine two seven seven zero eight AFSL four 753 00:33:37,400 --> 00:33:41,160 Speaker 6: five one two eight nine