1 00:00:00,480 --> 00:00:03,000 Speaker 1: Just before we get started, we'd like to acknowledge and 2 00:00:03,160 --> 00:00:06,840 Speaker 1: pay respect to Australia's Aboriginal and torrest Rate islander peoples. 3 00:00:07,120 --> 00:00:10,399 Speaker 1: They're the traditional custodians of the lands, the waterways and 4 00:00:10,440 --> 00:00:13,800 Speaker 1: the skies all across Australia. We thank you for sharing 5 00:00:13,920 --> 00:00:15,920 Speaker 1: and for caring for the land on which we are 6 00:00:16,000 --> 00:00:19,480 Speaker 1: able to learn. We pay respects to elders past and present, 7 00:00:19,560 --> 00:00:21,759 Speaker 1: and we share our friendship and our kindness. 8 00:00:22,320 --> 00:00:25,120 Speaker 2: She's on the Money, She's on the Money. 9 00:00:45,360 --> 00:00:48,800 Speaker 1: Hello, and welcome to She's on the Money, the podcast 10 00:00:48,840 --> 00:00:52,360 Speaker 1: for millennials who want financial freedom. Welcome back to another 11 00:00:52,400 --> 00:00:54,880 Speaker 1: one of our Friday Drinks episodes where we get to 12 00:00:54,960 --> 00:00:57,960 Speaker 1: celebrate the money wins from our She's on the Money community. 13 00:00:58,160 --> 00:01:01,200 Speaker 1: There are obviously so many great money wins and some 14 00:01:01,320 --> 00:01:04,440 Speaker 1: confessions sheared each and every single week in our Facebook group, 15 00:01:04,680 --> 00:01:06,800 Speaker 1: and we spend a very big part of our week 16 00:01:06,840 --> 00:01:09,560 Speaker 1: talking about you all and celebrating you in the office 17 00:01:09,640 --> 00:01:10,800 Speaker 1: without you being able to see. 18 00:01:10,920 --> 00:01:12,920 Speaker 3: So what only seems fair that we. 19 00:01:12,800 --> 00:01:14,399 Speaker 1: Make a pod to share it with the rest of 20 00:01:14,440 --> 00:01:16,880 Speaker 1: you this week, As we are every week, we are 21 00:01:16,920 --> 00:01:18,480 Speaker 1: celebrating you in This whole. 22 00:01:18,280 --> 00:01:19,320 Speaker 3: Episode is for you. 23 00:01:19,640 --> 00:01:22,840 Speaker 1: Friday is about celebrating the community that surrounds us and 24 00:01:23,000 --> 00:01:26,880 Speaker 1: having more positive and constructive conversations around money. So let's 25 00:01:26,959 --> 00:01:30,559 Speaker 1: jump straight into it. Jes A Grici, we have had 26 00:01:30,640 --> 00:01:33,880 Speaker 1: a lot of good feedback this week about our money diary. 27 00:01:34,160 --> 00:01:39,560 Speaker 2: What happened, Well, it made me mad. Firstly, she was lovely. 28 00:01:39,560 --> 00:01:41,640 Speaker 1: Why are you angry mad about the situation? 29 00:01:41,800 --> 00:01:44,760 Speaker 4: Yes, she is a lie, but she's currently going through 30 00:01:44,800 --> 00:01:47,200 Speaker 4: a workers' comp claim because she was injured in the 31 00:01:47,200 --> 00:01:50,040 Speaker 4: workplace due to something that was not her fault at all. 32 00:01:50,040 --> 00:01:52,440 Speaker 4: It was actually due to someone else not following procedure, 33 00:01:52,960 --> 00:01:56,800 Speaker 4: and her workplace doesn't really want to pay her, like 34 00:01:57,000 --> 00:01:58,120 Speaker 4: it's they don't. 35 00:01:57,960 --> 00:01:59,560 Speaker 1: And they're trying to fire her and they're trying to 36 00:01:59,600 --> 00:02:02,760 Speaker 1: push her out, and it just seems so cooked that 37 00:02:02,840 --> 00:02:05,400 Speaker 1: this is happening and she's having to take legal action 38 00:02:05,640 --> 00:02:08,200 Speaker 1: and like it's just so much she's literally had her 39 00:02:08,280 --> 00:02:09,000 Speaker 1: back broken. 40 00:02:09,240 --> 00:02:12,320 Speaker 2: Yeah, the poor thing. She's going through so much stress. 41 00:02:12,320 --> 00:02:14,080 Speaker 4: She's having to pay these legal fees out of her 42 00:02:14,120 --> 00:02:16,400 Speaker 4: own pocket, not even knowing if she'll be able to 43 00:02:16,400 --> 00:02:19,280 Speaker 4: recoup them, because if you know, things don't go her way, 44 00:02:19,600 --> 00:02:21,680 Speaker 4: that's money that she's spent trying to get something that 45 00:02:21,720 --> 00:02:25,200 Speaker 4: I would argue she absolutely is deserving of. And unfortunately, 46 00:02:25,600 --> 00:02:27,919 Speaker 4: it's not an uncommon story. It happens to a lot 47 00:02:27,960 --> 00:02:29,600 Speaker 4: of people. And I think that's why we got so 48 00:02:29,680 --> 00:02:32,360 Speaker 4: much good feedback this week is because it's not a 49 00:02:32,440 --> 00:02:36,080 Speaker 4: unique experience, so fortunately, which is terrible to think of, 50 00:02:36,200 --> 00:02:39,720 Speaker 4: particularly because those high risk jobs where you're more prone 51 00:02:39,760 --> 00:02:42,800 Speaker 4: to injury are really essential, Like we couldn't function without 52 00:02:42,800 --> 00:02:45,799 Speaker 4: those roles, and it's such a shame that those employees 53 00:02:45,880 --> 00:02:48,520 Speaker 4: aren't being prioritized and their safety doesn't seem to be 54 00:02:48,520 --> 00:02:50,240 Speaker 4: of importance to these big companies. 55 00:02:50,440 --> 00:02:52,840 Speaker 1: And it breaks my heart to think that she's, you know, 56 00:02:53,000 --> 00:02:55,880 Speaker 1: had this career that really worked for her, Like she 57 00:02:56,040 --> 00:02:58,360 Speaker 1: was telling us how she had this five Fox roll 58 00:02:58,400 --> 00:03:00,040 Speaker 1: where she'd fly in for a couple of weeks and 59 00:02:59,880 --> 00:03:01,520 Speaker 1: then out, so she got to spend heaps of time 60 00:03:01,560 --> 00:03:03,639 Speaker 1: with her family and bringing up her kids. And now 61 00:03:03,840 --> 00:03:05,919 Speaker 1: that's not going to be the reality because she can't 62 00:03:05,919 --> 00:03:08,600 Speaker 1: return to that type of work after this injury. But 63 00:03:08,720 --> 00:03:10,880 Speaker 1: jes she did say that this is arguably one of 64 00:03:10,919 --> 00:03:14,360 Speaker 1: the darkest times in her entire life and that that 65 00:03:14,480 --> 00:03:17,080 Speaker 1: broke me. Like I remember being like I'm so lack. 66 00:03:17,120 --> 00:03:19,200 Speaker 1: I wish I could do more, and we're obviously in 67 00:03:19,240 --> 00:03:21,919 Speaker 1: the background making sure she's supported and we love her 68 00:03:22,160 --> 00:03:24,320 Speaker 1: and we'll keep you guys updated. I hope that this 69 00:03:24,400 --> 00:03:26,440 Speaker 1: is a money story where we have a really beautiful 70 00:03:26,520 --> 00:03:28,120 Speaker 1: update to share with you all, but I think it's 71 00:03:28,120 --> 00:03:31,359 Speaker 1: a money story worth sharing. But the benefit here, right, 72 00:03:31,440 --> 00:03:34,160 Speaker 1: this is a very selfish benefit. She went back to UNI, 73 00:03:34,280 --> 00:03:36,720 Speaker 1: she studied financial planning, and she wants to be a planner. 74 00:03:36,840 --> 00:03:40,360 Speaker 1: So like, there's more cool, strong female financial advisors that 75 00:03:40,400 --> 00:03:41,520 Speaker 1: I could join the industry. 76 00:03:41,640 --> 00:03:43,040 Speaker 3: And I'm so excited about that. 77 00:03:43,160 --> 00:03:46,880 Speaker 1: Because she was so kind and so intelligent and so compassionate, 78 00:03:46,880 --> 00:03:48,160 Speaker 1: and I was just like, oh, You're going to make 79 00:03:48,200 --> 00:03:51,520 Speaker 1: a great adviser. So I mean, that's the benefit that 80 00:03:51,560 --> 00:03:51,920 Speaker 1: I saw. 81 00:03:52,480 --> 00:03:54,840 Speaker 2: One thousand percent. Really good story. She got a scholarship 82 00:03:54,880 --> 00:03:57,360 Speaker 2: as well. But listen for all of the details, because 83 00:03:57,680 --> 00:03:59,440 Speaker 2: you don't think it's going to happen to you. You 84 00:03:59,440 --> 00:04:01,000 Speaker 2: don't think it's going to happen to someone you know, 85 00:04:01,240 --> 00:04:05,320 Speaker 2: and unfortunately the stats tell us that it in fact potentially. 86 00:04:04,840 --> 00:04:06,480 Speaker 3: Could and as an advisor. 87 00:04:06,560 --> 00:04:09,520 Speaker 1: The worst part about this story is she just assumed 88 00:04:09,600 --> 00:04:13,440 Speaker 1: she had income protection and she didn't. Oh, let's move 89 00:04:13,480 --> 00:04:17,320 Speaker 1: away from that jeeking On tour. Hello, ladies, it's nice 90 00:04:17,360 --> 00:04:19,880 Speaker 1: to see you both looking extra radiant today. 91 00:04:20,000 --> 00:04:23,560 Speaker 3: I love the yellow against your ten very provision Eurovision. 92 00:04:23,760 --> 00:04:24,320 Speaker 3: Thanks girl. 93 00:04:24,640 --> 00:04:26,479 Speaker 2: I guess we're talking about the Wednesday deep dive. 94 00:04:26,560 --> 00:04:27,760 Speaker 3: Yeah, we had a good deep dive. 95 00:04:27,960 --> 00:04:30,640 Speaker 2: Well, I was honored it was Glennie James, I believe. 96 00:04:30,720 --> 00:04:32,400 Speaker 3: Yeah, that's why it was so good. I haven't listened 97 00:04:32,400 --> 00:04:34,000 Speaker 3: to it, whoops, because you weren't there. 98 00:04:34,040 --> 00:04:35,480 Speaker 2: Because it was Glenn and we loved him. 99 00:04:36,120 --> 00:04:38,039 Speaker 1: So Glenn and I sat down and we had a 100 00:04:38,040 --> 00:04:40,960 Speaker 1: big chat about all the things that we thought were important. 101 00:04:41,160 --> 00:04:43,359 Speaker 1: Does get a little bit randy, does get a little 102 00:04:43,360 --> 00:04:46,080 Speaker 1: bit fun, does at some point get a little bit spicy? 103 00:04:46,320 --> 00:04:48,919 Speaker 1: But that is okay, And that is a Glenn James podcast. 104 00:04:48,960 --> 00:04:51,440 Speaker 1: And I'm really grateful to have like finance friends, but 105 00:04:51,520 --> 00:04:54,080 Speaker 1: also podcast friends where we can jump on and vibe. 106 00:04:54,200 --> 00:04:56,640 Speaker 1: Because we weren't able to record in it together, George, 107 00:04:56,839 --> 00:04:59,320 Speaker 1: so Glenn put one out of the hat for us. 108 00:04:59,360 --> 00:05:00,000 Speaker 3: What a legend? 109 00:05:00,320 --> 00:05:01,279 Speaker 2: What did you talk about? 110 00:05:01,440 --> 00:05:02,240 Speaker 3: Everything? And nothing? 111 00:05:02,279 --> 00:05:04,120 Speaker 1: We did a whole heap of listener questions and just 112 00:05:04,160 --> 00:05:06,440 Speaker 1: like ranting about mainly by now pay later. 113 00:05:06,320 --> 00:05:08,160 Speaker 2: For anyone who doesn't know. Glenn is, of course from 114 00:05:08,200 --> 00:05:09,120 Speaker 2: My Millennial. 115 00:05:08,920 --> 00:05:11,279 Speaker 1: Yes, so Glenn is the host of My Millennial Money. 116 00:05:11,279 --> 00:05:14,080 Speaker 1: He's an ex financial advisor and all round legend. I 117 00:05:14,160 --> 00:05:17,080 Speaker 1: hope he's this complimentary about me on his podcast. We're 118 00:05:17,160 --> 00:05:20,240 Speaker 1: just setting the expectation up there. But you know, Georgia King, 119 00:05:20,680 --> 00:05:24,520 Speaker 1: who else is a legend that she's on the money community. 120 00:05:24,040 --> 00:05:25,800 Speaker 2: Which is why we're here today. 121 00:05:25,640 --> 00:05:28,440 Speaker 1: And you're going to share their money wins with us 122 00:05:28,480 --> 00:05:31,200 Speaker 1: this week. What if you brought in some caucus as 123 00:05:31,279 --> 00:05:33,680 Speaker 1: per when are they not caucers? Let's be really always, 124 00:05:33,720 --> 00:05:34,960 Speaker 1: really good. Absolutely. 125 00:05:35,040 --> 00:05:37,800 Speaker 2: Our first win of the day, Ladies is from Sarah 126 00:05:37,960 --> 00:05:41,000 Speaker 2: Money Win. I was running low on my everyday Foundation 127 00:05:41,120 --> 00:05:43,800 Speaker 2: and needed to buy a replacement. Then I saw that 128 00:05:43,839 --> 00:05:45,880 Speaker 2: the brand I used was part of the after pay 129 00:05:46,080 --> 00:05:48,360 Speaker 2: day sales. But I didn't want to have anything to 130 00:05:48,400 --> 00:05:51,279 Speaker 2: do with supporting an after pay collaboration if I could 131 00:05:51,320 --> 00:05:52,480 Speaker 2: help it, so I did. 132 00:05:52,320 --> 00:05:57,800 Speaker 1: A little I love her phone extra money win peace shout. 133 00:05:58,120 --> 00:06:00,880 Speaker 2: So I did a little extra research and an influencer 134 00:06:00,920 --> 00:06:02,839 Speaker 2: code that got me the same twenty percent of. 135 00:06:02,960 --> 00:06:04,159 Speaker 3: Oh my god, what a j. 136 00:06:05,800 --> 00:06:09,040 Speaker 1: She's like, I'm not having this all right. The next 137 00:06:09,080 --> 00:06:11,400 Speaker 1: wee here comes from Jenny Money. 138 00:06:11,440 --> 00:06:13,359 Speaker 2: When I was offered a promotion at work, but was 139 00:06:13,400 --> 00:06:17,040 Speaker 2: incredibly nervous to have the salary conversation. To my surprise, 140 00:06:17,160 --> 00:06:20,120 Speaker 2: I was offered a salary bump without even asking. But 141 00:06:20,200 --> 00:06:23,400 Speaker 2: because I had already hyped myself up and had been practicing, 142 00:06:23,520 --> 00:06:25,560 Speaker 2: I decided to ask if there was any wiggle room 143 00:06:25,600 --> 00:06:29,520 Speaker 2: for a high number anyway, And surprise, they agree. What 144 00:06:29,880 --> 00:06:32,120 Speaker 2: it's true, what they say. The worst that can happen 145 00:06:32,160 --> 00:06:34,640 Speaker 2: when you ask for a salary increase is that they say. 146 00:06:34,480 --> 00:06:36,680 Speaker 3: No, don't start, don't get guky. 147 00:06:36,520 --> 00:06:39,560 Speaker 2: Percisely good on her though, And would you guys do 148 00:06:39,680 --> 00:06:42,240 Speaker 2: that if they offered you an increase, would you ask 149 00:06:42,240 --> 00:06:42,920 Speaker 2: for a little bit more? 150 00:06:43,200 --> 00:06:44,359 Speaker 3: It's a bit cheeky. I would. 151 00:06:44,800 --> 00:06:48,320 Speaker 4: I've got a lot of audacity, though, Yeah, depends on 152 00:06:48,360 --> 00:06:51,360 Speaker 4: if they like if they've already asked your expectations, Like 153 00:06:51,360 --> 00:06:53,479 Speaker 4: if I set my expectations and they met them, I 154 00:06:53,560 --> 00:06:56,760 Speaker 4: probably wouldn't. But if they hadn't had that conversation, which 155 00:06:56,839 --> 00:06:59,520 Speaker 4: like now having worked here, I'm more if they. 156 00:06:59,480 --> 00:07:04,719 Speaker 2: Asked me, all of you up for failure. Sorry, anyone 157 00:07:04,760 --> 00:07:07,960 Speaker 2: who ever interviewed me that you're screwed like. 158 00:07:08,000 --> 00:07:09,520 Speaker 3: They are in a lot of trouble. 159 00:07:09,960 --> 00:07:12,000 Speaker 1: I mean, it's probably a good sign that Jess didn't 160 00:07:12,000 --> 00:07:13,760 Speaker 1: ask for more money when I gave her a pay 161 00:07:13,800 --> 00:07:16,760 Speaker 1: rise last year. 162 00:07:17,800 --> 00:07:20,920 Speaker 2: Where do you take this off line? What else on 163 00:07:21,040 --> 00:07:23,400 Speaker 2: our next wings? From Amanda? I'm not sure if this 164 00:07:23,440 --> 00:07:25,760 Speaker 2: is something I should be proud of or ashamed of? 165 00:07:26,640 --> 00:07:30,160 Speaker 2: In lockdown exactly, I signed up for Binge and watched 166 00:07:30,200 --> 00:07:32,720 Speaker 2: the whole of the Euphoria series before the end of 167 00:07:32,720 --> 00:07:36,120 Speaker 2: the trial period and canceled my subscription before being billed. 168 00:07:36,800 --> 00:07:38,200 Speaker 2: Very stoked with that money. 169 00:07:37,960 --> 00:07:39,520 Speaker 1: In I think she's a genius. But do you know 170 00:07:39,520 --> 00:07:41,080 Speaker 1: what else she needs to do? She needs to get 171 00:07:41,120 --> 00:07:44,960 Speaker 1: another email, sign up for another free trial period and 172 00:07:45,080 --> 00:07:47,400 Speaker 1: watch that below deck show that I'm obsessed with. 173 00:07:48,520 --> 00:07:51,480 Speaker 3: It's trash, George, you like it too, though. 174 00:07:51,840 --> 00:07:53,880 Speaker 2: It's really opened my eyes up to the world of soup. 175 00:07:54,320 --> 00:07:56,560 Speaker 2: That's my financial much to do with the world of 176 00:07:57,880 --> 00:08:01,200 Speaker 2: the one you can come from? Do I look like 177 00:08:01,240 --> 00:08:02,880 Speaker 2: I've ever been on a spacht? 178 00:08:03,040 --> 00:08:05,240 Speaker 1: You look like somebody would want to take you on 179 00:08:05,280 --> 00:08:06,640 Speaker 1: their sup for your sugar daddy? 180 00:08:06,640 --> 00:08:10,480 Speaker 3: Where you are? What the next we enjoy? 181 00:08:10,640 --> 00:08:13,320 Speaker 2: The next one is from Diet Money Win After listening 182 00:08:13,320 --> 00:08:15,679 Speaker 2: to Chese on the Money, I was inspired and felt 183 00:08:15,680 --> 00:08:17,800 Speaker 2: confident enough to ring my bank and ask for a 184 00:08:17,800 --> 00:08:20,440 Speaker 2: better rate on our home loan. Yes. We then visited 185 00:08:20,440 --> 00:08:22,920 Speaker 2: a mortgage broker who found us a much better deal. 186 00:08:23,240 --> 00:08:26,080 Speaker 2: By his calculations, we'll be saving about two thousand dollars 187 00:08:26,160 --> 00:08:28,720 Speaker 2: a year a year. And now that I see how 188 00:08:28,760 --> 00:08:30,840 Speaker 2: easy it is to ask and check for better rates, 189 00:08:30,840 --> 00:08:33,120 Speaker 2: we will definitely be doing this more in the future. 190 00:08:33,320 --> 00:08:34,280 Speaker 3: I love this. 191 00:08:34,679 --> 00:08:38,040 Speaker 1: You take note, everybody listening. It is easier than you 192 00:08:38,080 --> 00:08:38,679 Speaker 1: think it is. 193 00:08:39,000 --> 00:08:40,559 Speaker 2: There's a template on our website. 194 00:08:41,080 --> 00:08:43,040 Speaker 3: Go download it. It's crazy easy. 195 00:08:43,240 --> 00:08:45,640 Speaker 2: The next win is from Brook. I scored one thousand 196 00:08:45,679 --> 00:08:48,120 Speaker 2: dollars worth of accommodation at a five star hotel for 197 00:08:48,200 --> 00:08:51,720 Speaker 2: two hundred dollars. Absolute win, Little Metal Emotion. 198 00:08:51,800 --> 00:08:56,080 Speaker 1: That's so expensive. Oh my gosh. Sometimes when I'm feeling 199 00:08:56,120 --> 00:08:58,600 Speaker 1: really bougie, I go on the internet and look how 200 00:08:58,640 --> 00:09:01,360 Speaker 1: much it would be to stay in an overwater bungalow 201 00:09:01,360 --> 00:09:04,160 Speaker 1: in Bora, Bora, and I got the no, I can't 202 00:09:04,280 --> 00:09:06,960 Speaker 1: can't do it. Can't do it, especially four thousand dollars 203 00:09:07,000 --> 00:09:08,800 Speaker 1: a day. It's like I can choose to eat for 204 00:09:08,840 --> 00:09:09,839 Speaker 1: the rest of my life. 205 00:09:10,280 --> 00:09:11,600 Speaker 2: I can pay for that bunder. 206 00:09:12,320 --> 00:09:14,880 Speaker 3: Yes, we're going on holiday. 207 00:09:15,240 --> 00:09:18,480 Speaker 2: The next wing, guys, comes from Caitlin money loss. I 208 00:09:18,520 --> 00:09:21,640 Speaker 2: cut a tendon in my hand so had emergency surgery today, 209 00:09:21,640 --> 00:09:25,360 Speaker 2: which means eight weeks off work. Oh no, that's that's sad, obviously, 210 00:09:25,720 --> 00:09:28,600 Speaker 2: copyre Kay Caitlin. That sounds painful and horrible. But the 211 00:09:28,640 --> 00:09:31,160 Speaker 2: money win the positive side. We're all about glass half 212 00:09:31,160 --> 00:09:32,960 Speaker 2: full here at she's on the money. I'm not allowed 213 00:09:32,960 --> 00:09:35,480 Speaker 2: to drive, so I won't be paying for fuel for 214 00:09:35,520 --> 00:09:38,320 Speaker 2: the next eight weeks. Like us help with petrol prices 215 00:09:38,760 --> 00:09:40,760 Speaker 2: are exactly a good time. 216 00:09:41,040 --> 00:09:43,760 Speaker 1: Nobody wants to pay for fuel for the next dight week. 217 00:09:44,559 --> 00:09:47,040 Speaker 1: I drove past my local servo on the way here, 218 00:09:47,320 --> 00:09:50,840 Speaker 1: so such an Australian word like tell us this is 219 00:09:50,880 --> 00:09:54,480 Speaker 1: Australian podcast without telling us you want to go survey? 220 00:09:54,520 --> 00:09:56,840 Speaker 1: Do you want me to pick you up a Beva? 221 00:09:56,880 --> 00:10:00,320 Speaker 1: And it was like two dollars twenty for pet true 222 00:10:00,520 --> 00:10:03,319 Speaker 1: two twenty five on the highway right now. I threw 223 00:10:03,360 --> 00:10:04,640 Speaker 1: up in my mouth a little bit as I drove 224 00:10:04,679 --> 00:10:06,679 Speaker 1: past it. I was going to stop there on the way. 225 00:10:09,480 --> 00:10:12,040 Speaker 3: I have to stop too. I just realized I got 226 00:10:12,040 --> 00:10:13,160 Speaker 3: the ding line. 227 00:10:12,920 --> 00:10:15,640 Speaker 2: Yeah, I'm sucked in. Did you guys see the meme 228 00:10:15,760 --> 00:10:19,520 Speaker 2: in the group last week and it was inventing Anna's 229 00:10:19,800 --> 00:10:22,600 Speaker 2: Anna delf I've saved it. I've saved it to put 230 00:10:22,600 --> 00:10:25,920 Speaker 2: it on the Instagram, so it's a picture buired you 231 00:10:26,080 --> 00:10:29,520 Speaker 2: the money. I will buy you the money tomorrow. 232 00:10:29,960 --> 00:10:31,679 Speaker 3: Don't you know who my dad is? 233 00:10:31,760 --> 00:10:32,839 Speaker 2: Why you're so poor? 234 00:10:34,000 --> 00:10:34,480 Speaker 3: Why are you. 235 00:10:34,600 --> 00:10:35,760 Speaker 2: Both so good at that? 236 00:10:36,440 --> 00:10:38,079 Speaker 3: I don't have times for you. 237 00:10:38,280 --> 00:10:42,320 Speaker 2: I don't have tome for your bullshit? And the Delfy Foundation. 238 00:10:45,000 --> 00:10:46,000 Speaker 3: Actually move on? 239 00:10:48,000 --> 00:10:50,280 Speaker 2: Fun lost it all right? 240 00:10:50,320 --> 00:10:52,360 Speaker 1: The final win of the day, guys, This one is 241 00:10:52,400 --> 00:10:55,959 Speaker 1: super uplifting. It is from ness money win. After six years, 242 00:10:55,960 --> 00:10:59,000 Speaker 1: two months, and fourteen days, I have finally paid off 243 00:10:59,040 --> 00:11:01,200 Speaker 1: every cent of the one one hundred and twenty thousand 244 00:11:01,200 --> 00:11:05,080 Speaker 1: dollars credit debt that my abuser left me with. I'm done. 245 00:11:05,280 --> 00:11:08,560 Speaker 1: I am now officially I'm completely debt free. And oh 246 00:11:08,600 --> 00:11:09,920 Speaker 1: my god, does it feel good? 247 00:11:10,040 --> 00:11:13,240 Speaker 3: Oh yeah, Oh. 248 00:11:13,120 --> 00:11:14,840 Speaker 1: My god, honey, that's so special. 249 00:11:15,360 --> 00:11:18,840 Speaker 4: Celebrate yourself, queen, that's incredible. I'm really sorry that that 250 00:11:18,880 --> 00:11:21,720 Speaker 4: happened to you. That is the wo trash. But if 251 00:11:21,720 --> 00:11:23,760 Speaker 4: you can pull yourself out of that, you can pretty 252 00:11:23,800 --> 00:11:25,960 Speaker 4: damn well do that or anything. 253 00:11:25,720 --> 00:11:28,400 Speaker 3: We can do anything. Oh my gosh, George, that was 254 00:11:28,440 --> 00:11:29,600 Speaker 3: such a good way to end that. 255 00:11:30,240 --> 00:11:32,280 Speaker 1: Oh now we get to go to a break and 256 00:11:32,360 --> 00:11:34,240 Speaker 1: when we return, we're going to be talking about how 257 00:11:34,360 --> 00:11:38,840 Speaker 1: ask now want financial influencers to have financial services licenses. 258 00:11:38,840 --> 00:11:42,920 Speaker 1: Don't go anywhere, gals, I got a little spicy topic 259 00:11:42,960 --> 00:11:45,800 Speaker 1: for us. I have been ranting about it a week. 260 00:11:46,120 --> 00:11:48,920 Speaker 1: You know, we are livately. I have not been publicizing this. 261 00:11:49,600 --> 00:11:51,520 Speaker 4: We you know, we like to get a little loose 262 00:11:51,559 --> 00:11:54,760 Speaker 4: on a Friday. But Assek, who, for anyone who doesn't know, 263 00:11:55,000 --> 00:11:57,800 Speaker 4: is the regulator of the financial services industry here in 264 00:11:57,840 --> 00:12:03,720 Speaker 4: Australia recently released a very comprehensive outline of what they 265 00:12:03,840 --> 00:12:07,760 Speaker 4: do and do not approve of within the influencer space. 266 00:12:08,040 --> 00:12:12,319 Speaker 4: Influencer again, for anyone not following financial influencer. Up until 267 00:12:12,320 --> 00:12:14,840 Speaker 4: this point, there hasn't been a lot of clarity around 268 00:12:15,200 --> 00:12:18,000 Speaker 4: what these people can and cannot do. She's on the money. 269 00:12:18,160 --> 00:12:20,400 Speaker 4: As you guys know, we play by a certain set 270 00:12:20,400 --> 00:12:22,880 Speaker 4: of rules because Victoria is a licensed advisor, and that 271 00:12:22,960 --> 00:12:25,559 Speaker 4: means that we have to be very careful because advisors 272 00:12:25,600 --> 00:12:28,360 Speaker 4: are regulated very heavily, as they should be, as. 273 00:12:28,200 --> 00:12:28,800 Speaker 3: They should be. 274 00:12:28,960 --> 00:12:31,520 Speaker 1: But also we then overlay on top of that a 275 00:12:31,559 --> 00:12:34,439 Speaker 1: set of ethics that I think we hold as a team, right, 276 00:12:34,480 --> 00:12:37,079 Speaker 1: we just want to do the right thing by our community. 277 00:12:37,120 --> 00:12:39,760 Speaker 1: And she's on the money is always about the community, 278 00:12:40,080 --> 00:12:43,160 Speaker 1: not about the bottom line profits. And obviously that's quite 279 00:12:43,200 --> 00:12:45,680 Speaker 1: biased coming from me, and you don't have to believe that. 280 00:12:45,760 --> 00:12:48,440 Speaker 1: But hopefully through all of the actions we've shown you 281 00:12:49,040 --> 00:12:53,560 Speaker 1: we don't prioritize bottom line. We always prioritize the community. 282 00:12:53,200 --> 00:12:54,120 Speaker 2: One thousand percent. 283 00:12:54,240 --> 00:12:56,120 Speaker 4: But a lot of people in the finance space and 284 00:12:56,160 --> 00:12:58,000 Speaker 4: it is a really growing space, which we love to 285 00:12:58,040 --> 00:13:00,679 Speaker 4: see because we want more people talking about and making 286 00:13:00,720 --> 00:13:04,000 Speaker 4: it accessible. The problem is a lot of the time 287 00:13:04,040 --> 00:13:06,840 Speaker 4: these people aren't regulated. They can say whatever they want 288 00:13:06,880 --> 00:13:08,960 Speaker 4: and there is no way for you as a consumer 289 00:13:09,040 --> 00:13:12,280 Speaker 4: to know whether it's accurate, whether it's good. There's just 290 00:13:12,559 --> 00:13:14,240 Speaker 4: there's no way of knowing right. You've got to take 291 00:13:14,240 --> 00:13:16,640 Speaker 4: a punt, do your research, hope for the best. 292 00:13:16,960 --> 00:13:17,880 Speaker 3: In it's wild. 293 00:13:18,000 --> 00:13:21,040 Speaker 1: So ASIG is the Australian Securities and Investment Commission, So 294 00:13:21,120 --> 00:13:23,400 Speaker 1: they are the guys that make sure that I, as 295 00:13:23,440 --> 00:13:25,560 Speaker 1: a financial advisor I am doing the right thing. And 296 00:13:25,600 --> 00:13:28,240 Speaker 1: they also are kind of like the corporate watchhog over 297 00:13:28,320 --> 00:13:31,240 Speaker 1: all of the financial services industry and anything that's going 298 00:13:31,280 --> 00:13:33,559 Speaker 1: on with money. So, like you know, when crypto started 299 00:13:33,600 --> 00:13:35,640 Speaker 1: becoming a thing, they were doing heats of research into 300 00:13:35,679 --> 00:13:37,840 Speaker 1: that to make sure that the community's safe and the 301 00:13:37,840 --> 00:13:40,600 Speaker 1: communities looked after. Like their job is to make sure 302 00:13:40,600 --> 00:13:43,359 Speaker 1: that the consumer is in the right position. 303 00:13:43,040 --> 00:13:43,800 Speaker 2: One thousand percent. 304 00:13:43,840 --> 00:13:47,000 Speaker 4: And their new guidelines are warning people that if they 305 00:13:47,080 --> 00:13:49,520 Speaker 4: do the wrong thing, they could get slapped with five 306 00:13:49,600 --> 00:13:50,600 Speaker 4: years in prison or. 307 00:13:50,559 --> 00:13:53,839 Speaker 2: A millillion dollar five And. 308 00:13:54,000 --> 00:13:55,720 Speaker 4: Vita, I just know that you're going to have opinions, 309 00:13:55,720 --> 00:13:57,880 Speaker 4: Georgie are the same. We love to talk about this stuff, 310 00:13:57,920 --> 00:14:00,360 Speaker 4: and I think it's really interesting because it's not going 311 00:14:00,400 --> 00:14:01,520 Speaker 4: to impact us as a business. 312 00:14:01,800 --> 00:14:03,800 Speaker 1: That's not going to change a thing, and now that 313 00:14:04,040 --> 00:14:06,760 Speaker 1: is that we're like, not one thing changes about our business. 314 00:14:06,880 --> 00:14:09,440 Speaker 1: I've actually been contacted by a few media outlets this 315 00:14:09,520 --> 00:14:12,040 Speaker 1: week asking from my opinion on it, and I've said no, 316 00:14:12,200 --> 00:14:15,880 Speaker 1: thank you, just because I think that influencers have their place. 317 00:14:16,200 --> 00:14:17,800 Speaker 1: I think that there is a lot of value that 318 00:14:17,840 --> 00:14:21,920 Speaker 1: they bring because up until now, finance has been such 319 00:14:21,960 --> 00:14:26,800 Speaker 1: an overwhelming topic of conversation. Right, like we we feel 320 00:14:26,840 --> 00:14:29,720 Speaker 1: uncomfortable with it. Yes, I'm a financial advisor and hopefully 321 00:14:29,720 --> 00:14:31,400 Speaker 1: I'm like one of the hip, cool ones that you 322 00:14:31,440 --> 00:14:35,200 Speaker 1: guys listen to. But this influencer space, from my perspective, 323 00:14:35,240 --> 00:14:39,400 Speaker 1: is really filling the void between the unknown and financial services. 324 00:14:39,440 --> 00:14:42,240 Speaker 1: Like it's like there's never been this gray area where 325 00:14:42,280 --> 00:14:45,960 Speaker 1: we can have conversations. And there are some really beautiful 326 00:14:45,960 --> 00:14:49,200 Speaker 1: people that I would categorize as finfluencers who I think 327 00:14:49,240 --> 00:14:51,520 Speaker 1: are doing a really good job, Like Emma from the 328 00:14:51,520 --> 00:14:55,640 Speaker 1: Broke Generation is gorgeous and so ethical and does the 329 00:14:55,720 --> 00:14:59,720 Speaker 1: right thing always and really knows her lane. She talks 330 00:14:59,760 --> 00:15:02,800 Speaker 1: about budget and cash flower money values, but you hardly 331 00:15:02,840 --> 00:15:06,240 Speaker 1: ever see her talking about shares and investments because that's 332 00:15:06,240 --> 00:15:09,280 Speaker 1: not her power spot, Like that's not where she's thriving. 333 00:15:09,440 --> 00:15:13,720 Speaker 1: And I really respect seeing financial influencers kind of staying 334 00:15:13,720 --> 00:15:16,440 Speaker 1: within the bounds of their knowledge and staying within the 335 00:15:16,480 --> 00:15:19,200 Speaker 1: bounds of what is fair and reasonable for the community. 336 00:15:19,520 --> 00:15:20,920 Speaker 3: But over the last twelve months. 337 00:15:20,760 --> 00:15:24,640 Speaker 1: I've just seen it get murkier and murkier with finfluencers 338 00:15:24,680 --> 00:15:28,560 Speaker 1: promoting different products saying this is how I invest, this 339 00:15:28,600 --> 00:15:30,600 Speaker 1: is how you should invest, And at the end of 340 00:15:30,600 --> 00:15:34,720 Speaker 1: the day, an influencer is somebody who carries significant weight 341 00:15:35,200 --> 00:15:38,040 Speaker 1: such that if you saw their content, you are probably 342 00:15:38,040 --> 00:15:40,600 Speaker 1: going to be influenced by their opinion. And when you 343 00:15:40,680 --> 00:15:42,960 Speaker 1: get to that position, I believe that there's a lot 344 00:15:43,000 --> 00:15:46,120 Speaker 1: of responsibility. There's a lot of responsibility to make sure 345 00:15:46,120 --> 00:15:49,160 Speaker 1: that your community is safe and cared for and looked after. 346 00:15:49,600 --> 00:15:52,440 Speaker 1: And how do you do that if one you don't 347 00:15:52,440 --> 00:15:55,320 Speaker 1: actually have a deep understanding of the products you're promoting, 348 00:15:55,560 --> 00:15:59,040 Speaker 1: but two, you are being paid a commission for every 349 00:15:59,080 --> 00:16:04,080 Speaker 1: single person who converts, so you are being individually financially 350 00:16:04,160 --> 00:16:08,280 Speaker 1: motivated by the volume of people that sign up. And Jess, 351 00:16:08,320 --> 00:16:10,240 Speaker 1: you and I were talking about this before and we 352 00:16:10,280 --> 00:16:13,440 Speaker 1: said we need to cover this referral idea in this 353 00:16:13,560 --> 00:16:16,320 Speaker 1: segment when we talk about it because as much as 354 00:16:16,320 --> 00:16:18,760 Speaker 1: she's on the money as a business, yes, we generate 355 00:16:18,840 --> 00:16:22,560 Speaker 1: a profit. If you ever ever ever hear an advertiser 356 00:16:22,600 --> 00:16:25,520 Speaker 1: on our podcast, they have paid our advertising fee. 357 00:16:25,600 --> 00:16:27,280 Speaker 3: It is a flat fee that they. 358 00:16:27,200 --> 00:16:30,120 Speaker 1: Pay to be on our podcast, and it has nothing 359 00:16:30,160 --> 00:16:33,160 Speaker 1: to do with the conversion of people onto their platforms. 360 00:16:33,400 --> 00:16:36,240 Speaker 1: If you ever see a discount code or the you know, 361 00:16:36,400 --> 00:16:40,040 Speaker 1: the Shares's SotM code, we make nothing from that except 362 00:16:40,080 --> 00:16:43,480 Speaker 1: for bringing value to our community. You guys went wild 363 00:16:43,680 --> 00:16:46,280 Speaker 1: when we gave you the ten dollar up bank code. 364 00:16:46,600 --> 00:16:49,120 Speaker 1: And the reason our ten dollar up bank code was 365 00:16:49,200 --> 00:16:51,800 Speaker 1: ten dollars instead of the usual five is because we 366 00:16:51,880 --> 00:16:54,120 Speaker 1: said to our bank, please don't give us the referral. 367 00:16:54,400 --> 00:16:58,080 Speaker 1: Doesn't feel right. How about whenever someone from our community 368 00:16:58,120 --> 00:17:00,960 Speaker 1: signs up, you just give them double give both. So 369 00:17:01,000 --> 00:17:03,080 Speaker 1: I think it's really important for you guys to understand 370 00:17:03,120 --> 00:17:06,080 Speaker 1: where She's on the money stands on this issue, because 371 00:17:06,080 --> 00:17:08,119 Speaker 1: as much as we agree that there needs to be 372 00:17:08,200 --> 00:17:11,919 Speaker 1: more regulation, I think that this is probably going to 373 00:17:12,000 --> 00:17:15,159 Speaker 1: scare a lot of people away from creating really necessary 374 00:17:15,240 --> 00:17:16,040 Speaker 1: finance content. 375 00:17:16,160 --> 00:17:18,040 Speaker 4: Yeah, to put it, I guess into Layman's terms for 376 00:17:18,080 --> 00:17:20,879 Speaker 4: anyone who doesn't work in the marketing space, because we 377 00:17:20,960 --> 00:17:23,560 Speaker 4: don't expect you to know things that aren't your area 378 00:17:23,600 --> 00:17:25,720 Speaker 4: of expertise. Who would And this is a question that 379 00:17:25,760 --> 00:17:27,480 Speaker 4: we do get from time to time. 380 00:17:27,560 --> 00:17:29,800 Speaker 1: And are fair, you guys can ask us anything. Were 381 00:17:29,840 --> 00:17:31,920 Speaker 1: really open book, We absolutely are. 382 00:17:32,040 --> 00:17:34,320 Speaker 4: And I guess the way that I would say to 383 00:17:34,359 --> 00:17:37,719 Speaker 4: think about it is referrals. You're paying per person, as 384 00:17:37,760 --> 00:17:39,960 Speaker 4: you said, VI per conversion. It's like if I send 385 00:17:40,040 --> 00:17:42,639 Speaker 4: one person, I get ten dollars. If I send two people, 386 00:17:42,680 --> 00:17:45,720 Speaker 4: I get twenty. So people are incentivized to send as 387 00:17:45,720 --> 00:17:47,080 Speaker 4: many people as possible. 388 00:17:46,760 --> 00:17:49,959 Speaker 1: To post more regularly, and to look more into that 389 00:17:50,040 --> 00:17:53,919 Speaker 1: platform than maybe they are because there's obviously financial remuneration. 390 00:17:54,320 --> 00:17:57,080 Speaker 4: Whereas the advertising fee that you're talking about, as you said, 391 00:17:57,080 --> 00:17:59,040 Speaker 4: it's a flat rate. It doesn't change. And I would 392 00:17:59,040 --> 00:18:01,399 Speaker 4: say to people listening, think of that as like a 393 00:18:01,520 --> 00:18:04,200 Speaker 4: radio advertisement or a TV advertisement, where. 394 00:18:04,080 --> 00:18:05,439 Speaker 3: They're paying for that slot. 395 00:18:05,520 --> 00:18:08,760 Speaker 4: Yeah, they're paying for that position on that platform, and 396 00:18:09,119 --> 00:18:12,760 Speaker 4: whether one person goes across or ten thousand people go across, 397 00:18:13,040 --> 00:18:15,719 Speaker 4: it actually doesn't make a difference. So that's just how 398 00:18:15,720 --> 00:18:17,159 Speaker 4: I would kind of break it down if you're not 399 00:18:17,200 --> 00:18:19,080 Speaker 4: as familiar with those kinds of things. 400 00:18:18,920 --> 00:18:21,679 Speaker 1: And it's important to understand. And the other thing I 401 00:18:21,760 --> 00:18:25,359 Speaker 1: want people to know. And I guess this isn't necessarily 402 00:18:25,440 --> 00:18:28,520 Speaker 1: important when it comes to the topic at hand, But Jess, 403 00:18:28,520 --> 00:18:30,520 Speaker 1: you run our partnerships and you talk to our clients 404 00:18:30,520 --> 00:18:33,040 Speaker 1: all the time, and I think we have really good 405 00:18:33,160 --> 00:18:36,320 Speaker 1: relationships with our clients. Like I adore the tab at 406 00:18:36,320 --> 00:18:38,560 Speaker 1: shot back, Like I cannot tell you how highly I 407 00:18:38,560 --> 00:18:41,560 Speaker 1: speak of the teammate shares is and everybody else we 408 00:18:41,640 --> 00:18:45,800 Speaker 1: talk to, they literally become like friends. But that doesn't 409 00:18:45,800 --> 00:18:48,200 Speaker 1: mean that everybody who knocks on our door just gets 410 00:18:48,200 --> 00:18:51,560 Speaker 1: an advertising slot. So, Jess, the reason I'm bringing up 411 00:18:51,600 --> 00:18:54,679 Speaker 1: your role is you literally end up saying no to 412 00:18:54,840 --> 00:18:57,720 Speaker 1: far more than we say yes to. And we would 413 00:18:57,800 --> 00:19:01,160 Speaker 1: much prefer to have less relationships, but really good, solid 414 00:19:01,160 --> 00:19:03,760 Speaker 1: ones with companies that we know, you know and love, 415 00:19:04,240 --> 00:19:07,240 Speaker 1: compared to consistently promoting a new product each and every 416 00:19:07,240 --> 00:19:09,359 Speaker 1: single week that might not make sense for you and 417 00:19:09,440 --> 00:19:12,280 Speaker 1: doesn't potentially put you in the best possible position that 418 00:19:12,320 --> 00:19:14,840 Speaker 1: you could be in. So yes, they are buying advertising. 419 00:19:14,880 --> 00:19:17,840 Speaker 1: That's the thing that pays justice salary. It pays George's salary. 420 00:19:17,840 --> 00:19:20,240 Speaker 1: It makes sure that our producer can put a roof 421 00:19:20,280 --> 00:19:23,400 Speaker 1: over her head. Like, those things are really important, and 422 00:19:23,480 --> 00:19:26,480 Speaker 1: the importance of us being paid for the work we 423 00:19:26,600 --> 00:19:30,000 Speaker 1: do means we can continue to create free content that 424 00:19:30,080 --> 00:19:31,240 Speaker 1: benefits the community. 425 00:19:31,680 --> 00:19:36,879 Speaker 2: Can I ask, guys, what do you make of the penalty? 426 00:19:37,320 --> 00:19:40,440 Speaker 2: So five years imprisonment or a one million dollar fine, 427 00:19:40,960 --> 00:19:41,680 Speaker 2: that's hefty. 428 00:19:41,920 --> 00:19:42,439 Speaker 3: It's hefty. 429 00:19:42,680 --> 00:19:44,880 Speaker 1: I'm not surprised, right, Like, it sounds like a lot 430 00:19:44,880 --> 00:19:46,720 Speaker 1: of money, and I know that you know before I 431 00:19:46,760 --> 00:19:49,320 Speaker 1: was like a million, like, that's already applicable to me, 432 00:19:49,960 --> 00:19:53,040 Speaker 1: Like those things are part of my responsibility as a 433 00:19:53,040 --> 00:19:57,040 Speaker 1: financial adviser. It's why I'm so specific about the difference 434 00:19:57,080 --> 00:20:00,560 Speaker 1: between personal and general advice. It's why when you guys 435 00:20:00,560 --> 00:20:02,679 Speaker 1: have slipped into my DMS and said, hey, v I 436 00:20:02,800 --> 00:20:05,439 Speaker 1: just have a quick question. I'm changing super funds, like 437 00:20:05,440 --> 00:20:08,040 Speaker 1: which one do you like? I can't answer that. It's 438 00:20:08,040 --> 00:20:11,040 Speaker 1: not only unethical, but it's not the right thing to do. 439 00:20:11,160 --> 00:20:13,600 Speaker 1: I could quite literally end up in jail for that, 440 00:20:13,840 --> 00:20:16,879 Speaker 1: and financial advisors have ended up in jail for that. 441 00:20:17,119 --> 00:20:19,080 Speaker 1: It's not just this empty threat where they're like, oh, 442 00:20:19,119 --> 00:20:22,399 Speaker 1: if you get caught. People get caught, they go to jail, 443 00:20:22,480 --> 00:20:24,679 Speaker 1: they do their time, and they come back out and 444 00:20:24,720 --> 00:20:25,560 Speaker 1: it's terrifying. 445 00:20:25,880 --> 00:20:28,800 Speaker 4: I would also assume that there is a sliding scale 446 00:20:29,080 --> 00:20:32,000 Speaker 4: of you know, depending on the severity, not just one 447 00:20:32,040 --> 00:20:35,199 Speaker 4: wrong post. Yeah, there would probably be some level of 448 00:20:35,200 --> 00:20:37,280 Speaker 4: transition where they go. People are going, it's tough to 449 00:20:37,359 --> 00:20:40,399 Speaker 4: use their new footing. Anyone who's been in the financial space, 450 00:20:40,520 --> 00:20:43,040 Speaker 4: my personal opinion is get some legal advice if you're 451 00:20:43,080 --> 00:20:45,160 Speaker 4: not sure. Obviously, we have a team that we work 452 00:20:45,200 --> 00:20:46,880 Speaker 4: with that we always use to make sure that we're 453 00:20:46,920 --> 00:20:47,480 Speaker 4: above board. 454 00:20:47,560 --> 00:20:49,480 Speaker 1: And if you're of influencer listening to this and you 455 00:20:49,520 --> 00:20:51,960 Speaker 1: want a hand negotiating this, please just pick up the 456 00:20:51,960 --> 00:20:54,399 Speaker 1: phone text fee, I will sit down with you. I 457 00:20:54,480 --> 00:20:56,520 Speaker 1: want this industry to be safe. I want it to 458 00:20:56,560 --> 00:20:59,119 Speaker 1: be secure, like she's on the money as much as 459 00:20:59,119 --> 00:21:01,680 Speaker 1: were licensed. We don't think we're better than anybody else, 460 00:21:01,800 --> 00:21:04,840 Speaker 1: like we are one team or working towards better levels 461 00:21:04,840 --> 00:21:07,800 Speaker 1: of financial literacy. And if you're part of that journey, 462 00:21:07,840 --> 00:21:10,199 Speaker 1: like you're on our team, So reach out and have 463 00:21:10,240 --> 00:21:12,480 Speaker 1: a conversation with us and we'll just point you in 464 00:21:12,520 --> 00:21:15,080 Speaker 1: the right direction. I can't give you advice, I can't 465 00:21:15,119 --> 00:21:18,080 Speaker 1: help in any way, but I do have the right connections. 466 00:21:18,320 --> 00:21:20,399 Speaker 2: Will you guys know that I'm not down with the 467 00:21:20,440 --> 00:21:24,720 Speaker 2: instagrams that much. Are they like specific people or influencers 468 00:21:24,760 --> 00:21:25,560 Speaker 2: that they're targeting. 469 00:21:25,920 --> 00:21:28,600 Speaker 1: Look, they haven't called that out. I'm super pervy, so 470 00:21:28,720 --> 00:21:31,120 Speaker 1: I would love to know that information, but I very 471 00:21:31,200 --> 00:21:34,919 Speaker 1: much doubt they'll ever make that information publicly available. But 472 00:21:35,200 --> 00:21:38,480 Speaker 1: from what I understand, there are actually some influences that 473 00:21:38,520 --> 00:21:42,640 Speaker 1: are under very close watch from ASEK because they've disclosed 474 00:21:42,680 --> 00:21:46,280 Speaker 1: online that they're making even five or even six figure 475 00:21:46,320 --> 00:21:50,320 Speaker 1: salaries from promotional deals that are with licensed brokerages or 476 00:21:50,440 --> 00:21:54,359 Speaker 1: with licensed financial advice firms like share market and foreign 477 00:21:54,440 --> 00:21:58,840 Speaker 1: exchange brokers, and even investing platforms or fees that their 478 00:21:58,880 --> 00:22:02,560 Speaker 1: subscribers are paid to follow them. This is to me 479 00:22:02,840 --> 00:22:05,359 Speaker 1: a bit wild because I have looked at it and like, wow, 480 00:22:05,560 --> 00:22:08,000 Speaker 1: like a subscription model. That seems crazy. You're not even 481 00:22:08,040 --> 00:22:10,080 Speaker 1: an advisor. So I think it would be interesting to 482 00:22:10,119 --> 00:22:13,960 Speaker 1: see how this falls out. But from my perspective, this 483 00:22:14,119 --> 00:22:16,119 Speaker 1: is a very good step in the right direction. As 484 00:22:16,200 --> 00:22:18,280 Speaker 1: much as I'm saying, look, I think that there's a 485 00:22:18,280 --> 00:22:20,800 Speaker 1: really good place for them, I also think that the 486 00:22:20,800 --> 00:22:23,159 Speaker 1: community needs to be looked after, and there needs to 487 00:22:23,200 --> 00:22:25,320 Speaker 1: be regulation in this space, and we need to be 488 00:22:25,440 --> 00:22:28,400 Speaker 1: talking about it more because at the end of the day, 489 00:22:28,520 --> 00:22:31,600 Speaker 1: they're giving you advice on your financial life, and that 490 00:22:31,640 --> 00:22:33,880 Speaker 1: could make or break your future. Like if you've got 491 00:22:33,880 --> 00:22:36,280 Speaker 1: the wrong advice and just joined up to a platform 492 00:22:36,320 --> 00:22:39,720 Speaker 1: because you're like, oh, well, this particular influencer was promoting it, 493 00:22:39,760 --> 00:22:42,320 Speaker 1: so it must be good. I trust their opinion, and 494 00:22:42,359 --> 00:22:44,760 Speaker 1: then a few years from now you realize that wasn't 495 00:22:44,760 --> 00:22:46,680 Speaker 1: the right decision, Like you've missed out on a whole 496 00:22:46,680 --> 00:22:49,080 Speaker 1: heap of compound interest. You've missed out on making the 497 00:22:49,160 --> 00:22:52,760 Speaker 1: right decisions early. Like it's just there's such a cost involved. 498 00:22:52,960 --> 00:22:55,960 Speaker 1: It's not like influences promoting skincare, where you buy a 499 00:22:56,000 --> 00:22:58,240 Speaker 1: cleanser and you're like, yeah, I don't like the smell. 500 00:22:58,280 --> 00:23:01,679 Speaker 1: Like it's you and you'll financial future and you're investing 501 00:23:01,800 --> 00:23:05,240 Speaker 1: for the future, and there's such significant ramifications. 502 00:23:05,280 --> 00:23:06,879 Speaker 3: If it's not done properly, it's. 503 00:23:06,760 --> 00:23:10,480 Speaker 2: Like unqualified people on the socials talking about how to 504 00:23:10,600 --> 00:23:14,400 Speaker 2: get slim and like all of that stuff, and it's 505 00:23:14,600 --> 00:23:17,440 Speaker 2: leave that to the professionals guts. 506 00:23:17,000 --> 00:23:19,959 Speaker 1: Exactly, and it ends up being quite toxic. And I 507 00:23:20,000 --> 00:23:22,080 Speaker 1: feel like the community after seeing this is going to 508 00:23:22,119 --> 00:23:25,280 Speaker 1: be a little bit more apprehensive as they should be, 509 00:23:25,280 --> 00:23:27,639 Speaker 1: because they haven't really been exposed to the fact that 510 00:23:27,680 --> 00:23:30,240 Speaker 1: maybe these guys don't know what they're talking about. 511 00:23:30,400 --> 00:23:34,120 Speaker 4: I personally am really interested to see because obviously we're 512 00:23:34,119 --> 00:23:36,200 Speaker 4: all in the finance space, we all see other people, 513 00:23:36,240 --> 00:23:38,840 Speaker 4: we have a lot of friends. I'm really interested to 514 00:23:38,960 --> 00:23:42,400 Speaker 4: see there are certain platforms that you see being recommended 515 00:23:42,520 --> 00:23:46,960 Speaker 4: really regularly, and I personally know that this is because 516 00:23:47,000 --> 00:23:50,600 Speaker 4: these platforms have particularly high referral. 517 00:23:50,240 --> 00:23:55,240 Speaker 1: Fees because they they haven't worked with them. We've said, 518 00:23:55,560 --> 00:23:57,640 Speaker 1: we want to work with us on a referral basis, 519 00:23:57,640 --> 00:23:59,680 Speaker 1: and no matter what the referral fee is, we've always 520 00:23:59,680 --> 00:24:00,440 Speaker 1: said thank you. 521 00:24:00,720 --> 00:24:01,000 Speaker 2: Yeah. 522 00:24:01,040 --> 00:24:03,840 Speaker 4: So I'm a little bit just nosy and want to 523 00:24:03,840 --> 00:24:07,960 Speaker 4: see how many people are going to stop recommending certain services. 524 00:24:07,960 --> 00:24:09,480 Speaker 4: It's going to come to a grinding hole now that 525 00:24:09,960 --> 00:24:12,680 Speaker 4: a kit back correct. I think that's really interesting. It's 526 00:24:12,680 --> 00:24:15,880 Speaker 4: something I would encourage people to watch out for and see. 527 00:24:15,920 --> 00:24:18,199 Speaker 4: You know, if you've been thinking about certain platforms, if 528 00:24:18,240 --> 00:24:21,960 Speaker 4: you notice them slowly dissipating over the coming months, that 529 00:24:22,000 --> 00:24:24,240 Speaker 4: may be why. And it's just something to factor into 530 00:24:24,240 --> 00:24:27,640 Speaker 4: your consideration. Is why we always say, even with us, 531 00:24:28,119 --> 00:24:30,520 Speaker 4: do your own research. Just because someone tells you the 532 00:24:30,560 --> 00:24:33,000 Speaker 4: benefits of a product doesn't mean that it's right for you. 533 00:24:33,119 --> 00:24:36,840 Speaker 4: And I'm personally really stoked to see this space becoming 534 00:24:36,840 --> 00:24:39,600 Speaker 4: more tightly regulated because I truly think that it needs 535 00:24:39,600 --> 00:24:41,280 Speaker 4: to be agreed agreed. 536 00:24:41,440 --> 00:24:43,720 Speaker 3: I just I feel so passionate about it. 537 00:24:43,800 --> 00:24:46,600 Speaker 1: And as I said before, you know, I'm sure not 538 00:24:46,680 --> 00:24:49,280 Speaker 1: that many influencers listen to our podcast, or maybe you do. 539 00:24:49,640 --> 00:24:52,800 Speaker 1: I'd be so interested but if you want to reach out, 540 00:24:52,880 --> 00:24:55,679 Speaker 1: please do like. I'm all support, I'm all ears. I 541 00:24:55,800 --> 00:24:58,720 Speaker 1: just don't think that you know, as a small time 542 00:24:58,800 --> 00:25:02,520 Speaker 1: content creator, I think you never intended to give the 543 00:25:02,560 --> 00:25:05,520 Speaker 1: wrong advice. Not that you are, but you never intended 544 00:25:05,560 --> 00:25:07,800 Speaker 1: to do harm. And I think it's a really important 545 00:25:07,800 --> 00:25:11,360 Speaker 1: conversation to be having. If there is the potential of harm, 546 00:25:11,640 --> 00:25:14,080 Speaker 1: let's make sure that that's not a thing. And I mean, 547 00:25:14,400 --> 00:25:17,359 Speaker 1: we're better together, right, We always say on the podcast 548 00:25:17,359 --> 00:25:20,000 Speaker 1: Arising Tide, lift soul ships like it's going to make 549 00:25:20,080 --> 00:25:23,119 Speaker 1: cheese on the money better, even though we're already regulated, 550 00:25:23,160 --> 00:25:26,160 Speaker 1: even though I'm already a financial advisor with a license. 551 00:25:26,600 --> 00:25:27,400 Speaker 3: I just think that. 552 00:25:27,600 --> 00:25:29,639 Speaker 1: You know, there's more pressure on us to make sure 553 00:25:29,760 --> 00:25:32,879 Speaker 1: a thousand brillion percent that you guys are always in 554 00:25:32,920 --> 00:25:34,000 Speaker 1: the best possible position. 555 00:25:34,160 --> 00:25:35,880 Speaker 4: And if you are a person who might be impacted 556 00:25:35,880 --> 00:25:37,480 Speaker 4: by this, we'll have a link in the show notes 557 00:25:37,520 --> 00:25:40,239 Speaker 4: to the A Sick fact sheet where you can go 558 00:25:40,280 --> 00:25:41,760 Speaker 4: and read it straight from the horse's mouth. 559 00:25:42,040 --> 00:25:45,879 Speaker 2: Food for thought, ladies, Very interesting chat there, As you 560 00:25:45,880 --> 00:25:48,720 Speaker 2: guys both said, though we're always here to support anyone 561 00:25:48,760 --> 00:25:51,280 Speaker 2: impacted by this. We'll link that article in the show 562 00:25:51,320 --> 00:25:53,639 Speaker 2: notes or that website. Of course we will, but for 563 00:25:53,720 --> 00:25:56,280 Speaker 2: now let's do a little disclaimer because. 564 00:25:58,280 --> 00:25:59,399 Speaker 3: This feels a bit weird. 565 00:26:00,240 --> 00:26:02,680 Speaker 2: The advice yet on She's on the Money is general 566 00:26:02,720 --> 00:26:06,040 Speaker 2: in nature and does not consider out your individual circumstances. 567 00:26:06,400 --> 00:26:09,479 Speaker 2: She's on the Money exists purely for educational purposes and 568 00:26:09,520 --> 00:26:12,000 Speaker 2: should not be relied upon to make an investment or 569 00:26:12,000 --> 00:26:15,879 Speaker 2: a financial decision, and we promise Victoria Divine is an 570 00:26:15,920 --> 00:26:20,360 Speaker 2: authorized representative of in Focused Securities Australia Proprietary Limited ABN 571 00:26:20,480 --> 00:26:23,400 Speaker 2: four seven zero nine seven seven nine seven zero four 572 00:26:23,520 --> 00:26:27,399 Speaker 2: nine AFOSL two three six five two three, See you 573 00:26:27,480 --> 00:26:29,520 Speaker 2: next week, see you next days. 574 00:26:29,640 --> 00:26:32,000 Speaker 1: Side Friday, Happy Weekend Friend Byey