1 00:00:00,680 --> 00:00:02,520 Speaker 1: She's on the Money. 2 00:00:02,680 --> 00:00:04,760 Speaker 2: She's on the Money. 3 00:00:18,720 --> 00:00:21,680 Speaker 3: Hello, and welcome to She's on the Money, the podcast 4 00:00:21,760 --> 00:00:25,960 Speaker 3: for millennials who want financial freedom. My name is Victoria Divine, 5 00:00:26,000 --> 00:00:28,200 Speaker 3: and as always for money Diaries, I am joined by 6 00:00:28,240 --> 00:00:32,040 Speaker 3: our friend Ryan John. Now, this week's money Diary was 7 00:00:32,080 --> 00:00:34,640 Speaker 3: a bit of a banger. We had the absolute pleasure 8 00:00:34,720 --> 00:00:37,520 Speaker 3: of chatting to one of our community babies, who, at 9 00:00:37,680 --> 00:00:40,880 Speaker 3: just twenty years of age, has saved a very impressive 10 00:00:40,960 --> 00:00:44,040 Speaker 3: sixty thousand dollars. Here's how our chat with her went. 11 00:00:45,120 --> 00:00:47,760 Speaker 1: I'm currently twenty years old, studying law and commerce and 12 00:00:47,800 --> 00:00:51,479 Speaker 1: working in finance. Yes, Queen, I currently use for trading 13 00:00:51,600 --> 00:00:57,600 Speaker 1: some cryptocurrencies, which vis always raises an eyebrow. No, I 14 00:00:57,600 --> 00:00:59,200 Speaker 1: would love to share my money diary with you. I've 15 00:00:59,200 --> 00:01:01,400 Speaker 1: worked super hard to get to my savings goal, which 16 00:01:01,400 --> 00:01:06,160 Speaker 1: I've just achieved today, sixty thousand dollars. 17 00:01:07,080 --> 00:01:09,080 Speaker 3: What How old did she say? 18 00:01:09,080 --> 00:01:09,360 Speaker 1: She was? 19 00:01:09,400 --> 00:01:09,640 Speaker 3: Again? 20 00:01:09,760 --> 00:01:11,800 Speaker 4: Twenty years old, studying law and commerce. 21 00:01:11,880 --> 00:01:15,360 Speaker 1: Hold on and the number again, sixty thousand dollars. 22 00:01:15,440 --> 00:01:16,760 Speaker 3: Okay, so I wasn't wrong. 23 00:01:17,080 --> 00:01:19,560 Speaker 4: Carry on, Let's call it her. This is ridiculous. 24 00:01:19,560 --> 00:01:20,120 Speaker 3: I want to call it. 25 00:01:26,840 --> 00:01:27,880 Speaker 2: Hello. Nicole's speaking. 26 00:01:28,280 --> 00:01:30,200 Speaker 4: Hey, Nicole, this is Ryan from She's on the Money. 27 00:01:30,240 --> 00:01:31,559 Speaker 4: How are you doing well? 28 00:01:31,560 --> 00:01:32,479 Speaker 2: Thank you? How are you Ryan? 29 00:01:32,600 --> 00:01:32,960 Speaker 4: I'm good. 30 00:01:32,959 --> 00:01:35,720 Speaker 1: I'm here with Victoria Devine and we're both in awe 31 00:01:35,920 --> 00:01:38,480 Speaker 1: that you've hit your savings goal of sixty thousand at 32 00:01:38,520 --> 00:01:39,160 Speaker 1: age twenty? 33 00:01:39,240 --> 00:01:40,520 Speaker 4: Is this correct? Are we reading right? 34 00:01:40,640 --> 00:01:42,559 Speaker 3: I actually made him read the email to me twice. 35 00:01:43,400 --> 00:01:46,520 Speaker 2: It is it is? Yeah, No, I'm really happy with 36 00:01:46,560 --> 00:01:49,000 Speaker 2: It's only a recent master in a few weeks back. 37 00:01:50,160 --> 00:01:52,640 Speaker 3: Yeah. So, oh well it was a few weeks back. 38 00:01:52,680 --> 00:01:55,440 Speaker 3: It must just not be that import boring. Now. Yeah, 39 00:01:55,480 --> 00:01:59,760 Speaker 3: I'm sorry about it. Now, that's epic. I love that. 40 00:02:00,320 --> 00:02:03,240 Speaker 3: I want to know all about that. But maybe we 41 00:02:03,240 --> 00:02:05,800 Speaker 3: should get through all of the questions and then have 42 00:02:05,840 --> 00:02:06,800 Speaker 3: a chat about it after. 43 00:02:07,640 --> 00:02:09,360 Speaker 2: Sounds good, right, awesome. 44 00:02:09,560 --> 00:02:12,680 Speaker 3: Let's dive straight in. So the first question is, can 45 00:02:12,720 --> 00:02:16,120 Speaker 3: you please describe your relationship with money. I think I 46 00:02:16,160 --> 00:02:16,480 Speaker 3: have a. 47 00:02:16,440 --> 00:02:20,440 Speaker 2: Pretty good relationship with money. I've always kind of been 48 00:02:20,560 --> 00:02:25,320 Speaker 2: raised to, you know, live within your means and only 49 00:02:25,360 --> 00:02:28,560 Speaker 2: spend what you really have. I've been fortunate enough to 50 00:02:28,680 --> 00:02:30,400 Speaker 2: be in a position where I do live at home, 51 00:02:30,520 --> 00:02:33,720 Speaker 2: so I get to save a lot, which means I 52 00:02:33,800 --> 00:02:36,160 Speaker 2: also get, you know, spending money to do the things 53 00:02:36,160 --> 00:02:39,920 Speaker 2: I love. I don't feel like I have to, you know, 54 00:02:40,000 --> 00:02:42,440 Speaker 2: minimize a lifestyle just to you know, save money. And 55 00:02:42,440 --> 00:02:45,079 Speaker 2: that's a really fortunate position for me. So I love 56 00:02:45,120 --> 00:02:49,040 Speaker 2: that I'm able to do everything, you know, I want to. However, 57 00:02:49,800 --> 00:02:52,359 Speaker 2: I do believe that I do work really hard. I've 58 00:02:52,400 --> 00:02:55,200 Speaker 2: been working, you know, since i was fourteen. I'm trying 59 00:02:55,240 --> 00:02:57,000 Speaker 2: to save money. Even back when you know, I was 60 00:02:57,400 --> 00:03:00,640 Speaker 2: earning nine dollars or something whatever an hour, I was 61 00:03:00,639 --> 00:03:03,080 Speaker 2: trying to do my best to save So I've always 62 00:03:03,120 --> 00:03:05,400 Speaker 2: had quite a practical relationship with money. 63 00:03:05,800 --> 00:03:07,960 Speaker 3: I love that. So what do you do for work 64 00:03:08,000 --> 00:03:08,600 Speaker 3: and for life? 65 00:03:09,280 --> 00:03:13,160 Speaker 2: Well, I'm currently studying, So I am currently studying law 66 00:03:13,240 --> 00:03:17,280 Speaker 2: and commerce, and I'm also working part time. So I 67 00:03:17,360 --> 00:03:18,800 Speaker 2: work in finance admin. 68 00:03:19,680 --> 00:03:21,680 Speaker 3: What do you earn and how much money is sitting 69 00:03:21,720 --> 00:03:23,160 Speaker 3: in your bank accounts right now? 70 00:03:23,560 --> 00:03:27,800 Speaker 2: So I earn about five eighty after tacks per week. 71 00:03:28,080 --> 00:03:32,679 Speaker 2: Sometimes it's fluctuates to be more if I'm on unibreak 72 00:03:32,720 --> 00:03:35,400 Speaker 2: and I'm able to work more hours and sometimes less, 73 00:03:35,800 --> 00:03:38,280 Speaker 2: you know, because I am a casual. So if you know, 74 00:03:38,360 --> 00:03:41,360 Speaker 2: I don't work certain days or I go on holidays less. 75 00:03:41,720 --> 00:03:45,600 Speaker 2: At the moment, I am currently actually on holidays, so 76 00:03:45,640 --> 00:03:47,600 Speaker 2: I have a bit more in my spendings accounts. I 77 00:03:47,680 --> 00:03:50,720 Speaker 2: have about four hundred or five hundred dollars in there, 78 00:03:51,160 --> 00:03:55,760 Speaker 2: and then I have approximately sixty thousand dollars in. 79 00:03:55,760 --> 00:03:59,200 Speaker 3: Savings, which is arguably one of the most epic things 80 00:03:59,240 --> 00:04:02,200 Speaker 3: I've heard today, but we'll talk about that later. I 81 00:04:02,280 --> 00:04:05,640 Speaker 3: keep getting sidetracked on questions. So do you feel confident 82 00:04:05,760 --> 00:04:07,200 Speaker 3: making decisions around money? 83 00:04:07,880 --> 00:04:11,160 Speaker 2: I do in terms of, you know, spending and keeping 84 00:04:11,200 --> 00:04:14,000 Speaker 2: track of spending. I do. However, the only thing I'm 85 00:04:14,320 --> 00:04:16,320 Speaker 2: not really confident about and would like to learn more 86 00:04:16,400 --> 00:04:18,560 Speaker 2: is a bit more about investing. I think I have, 87 00:04:19,080 --> 00:04:21,359 Speaker 2: you know, that amount in savings, so I would like 88 00:04:21,440 --> 00:04:24,839 Speaker 2: to be able to use it. But I feel quite comfortable, 89 00:04:24,880 --> 00:04:27,440 Speaker 2: you know, spending money and say and putting into savings 90 00:04:27,480 --> 00:04:29,720 Speaker 2: and have a decent amount of knowledge. It's also come 91 00:04:29,760 --> 00:04:32,680 Speaker 2: from my degree, where they do teach you about finances 92 00:04:32,720 --> 00:04:34,800 Speaker 2: and houseful of that works. So I have a little 93 00:04:34,800 --> 00:04:36,960 Speaker 2: bit of knowledge around it, and I'm quite comfortable with 94 00:04:37,320 --> 00:04:38,000 Speaker 2: my knowledge. 95 00:04:38,160 --> 00:04:41,719 Speaker 1: It's so funny I just wrote down ask about savings 96 00:04:41,839 --> 00:04:43,800 Speaker 1: versus investing, because it feels like you're going to get 97 00:04:43,800 --> 00:04:45,440 Speaker 1: to that stage where you're going to want to branch out, 98 00:04:45,440 --> 00:04:46,880 Speaker 1: and then as soon as I wrote that down, you 99 00:04:46,920 --> 00:04:47,240 Speaker 1: said it. 100 00:04:48,279 --> 00:04:51,279 Speaker 2: Yeah. Yeah, that's my biggest kind of debate with myself 101 00:04:51,320 --> 00:04:54,760 Speaker 2: at the moment to you know, do something with the savings. 102 00:04:54,760 --> 00:04:56,880 Speaker 2: And it's kind of hard because you know, you're not 103 00:04:57,240 --> 00:04:59,320 Speaker 2: taught with share to put your money in, so you 104 00:04:59,320 --> 00:05:02,120 Speaker 2: don't have a huge, huge amount, you know, the financial 105 00:05:02,160 --> 00:05:04,400 Speaker 2: advisors or financial accounts is you're not sure you know 106 00:05:04,440 --> 00:05:06,680 Speaker 2: if they're for you or if they're you know, people 107 00:05:06,680 --> 00:05:08,560 Speaker 2: with them more money, and just not really sure where 108 00:05:08,560 --> 00:05:08,840 Speaker 2: to go. 109 00:05:09,160 --> 00:05:11,120 Speaker 1: Well, we definitely have some advice when we get to 110 00:05:11,360 --> 00:05:13,240 Speaker 1: asking a few more questions, but let's continue. 111 00:05:14,000 --> 00:05:16,000 Speaker 3: So how do you feel about the money that is 112 00:05:16,040 --> 00:05:17,280 Speaker 3: currently in your bank account? 113 00:05:18,040 --> 00:05:20,479 Speaker 2: I feel like it's quite good. I'm really happy with 114 00:05:20,560 --> 00:05:24,080 Speaker 2: how I've saved. I think it sets me up a 115 00:05:24,120 --> 00:05:26,839 Speaker 2: bit for my future. I would love to start property 116 00:05:26,880 --> 00:05:30,159 Speaker 2: investing and things like that. I'm quite keen interested in 117 00:05:30,200 --> 00:05:31,920 Speaker 2: the real estate market, just you know, a bit of 118 00:05:31,960 --> 00:05:34,640 Speaker 2: a hobby. So I feel quite comfortable with it and 119 00:05:34,640 --> 00:05:36,000 Speaker 2: I'm glad it's there. 120 00:05:36,120 --> 00:05:36,320 Speaker 3: You know. 121 00:05:36,880 --> 00:05:39,800 Speaker 2: It's such a tumultuous time at the moment, and I've 122 00:05:39,839 --> 00:05:41,719 Speaker 2: been fortunate enough to keep my job, but knowing that 123 00:05:41,800 --> 00:05:45,840 Speaker 2: I have that backing there makes you feel more confident. 124 00:05:46,600 --> 00:05:49,320 Speaker 3: Awesome. So do you currently invest in any way? 125 00:05:50,200 --> 00:05:54,880 Speaker 2: I started recently investing in a bit of cryptocurrency, so 126 00:05:54,960 --> 00:05:59,400 Speaker 2: it was before your podcast, and I don't really know 127 00:05:59,440 --> 00:06:02,480 Speaker 2: when I'm doing. I just I looked into it a 128 00:06:02,560 --> 00:06:05,560 Speaker 2: little bit and I disinvested as small matt in our 129 00:06:05,600 --> 00:06:09,039 Speaker 2: few hundred dollars here and there, and fortunately, you know, 130 00:06:09,080 --> 00:06:11,800 Speaker 2: I picked the right ones, not that I really understand 131 00:06:11,960 --> 00:06:14,080 Speaker 2: how they are working, but fortunately I've picked the right 132 00:06:14,120 --> 00:06:17,239 Speaker 2: ones and I've had quite good growth. I'm quite happy 133 00:06:17,279 --> 00:06:19,920 Speaker 2: with it. But other than that, no major investment. 134 00:06:20,839 --> 00:06:24,520 Speaker 3: So obviously I'm a financial advisor and I have a 135 00:06:24,520 --> 00:06:27,159 Speaker 3: couple of questions that are a little bit off track 136 00:06:27,200 --> 00:06:31,400 Speaker 3: when it comes to buying crypto. So you've obviously saved, 137 00:06:31,680 --> 00:06:34,880 Speaker 3: and I would from understanding your money story a little 138 00:06:34,880 --> 00:06:37,200 Speaker 3: bit from what you've already told us is I would 139 00:06:37,440 --> 00:06:39,839 Speaker 3: think that you're quite conservative because you don't want to 140 00:06:39,880 --> 00:06:43,160 Speaker 3: like risk that sixty thousand dollars that you've saved so 141 00:06:43,360 --> 00:06:47,400 Speaker 3: hard for. What made you feel confident enough to pick 142 00:06:47,560 --> 00:06:50,520 Speaker 3: a crypto asset above and beyond every other type of 143 00:06:50,560 --> 00:06:51,800 Speaker 3: asset that you had access to. 144 00:06:52,480 --> 00:06:55,120 Speaker 2: I think because I was able to put in such 145 00:06:55,120 --> 00:06:58,040 Speaker 2: a small amount. So I was only really comfortable putting 146 00:06:58,080 --> 00:07:00,240 Speaker 2: in an amount, a small amount into some things that 147 00:07:00,279 --> 00:07:02,839 Speaker 2: I didn't really understand, and I felt as those shares 148 00:07:03,760 --> 00:07:06,039 Speaker 2: or other kind of investments type, I would need to 149 00:07:06,040 --> 00:07:08,120 Speaker 2: do a little bit more research. So it was kind 150 00:07:08,120 --> 00:07:11,200 Speaker 2: of a bit of a spur and I kind of 151 00:07:11,200 --> 00:07:12,960 Speaker 2: did have a look into and I have somewhat of 152 00:07:12,960 --> 00:07:15,520 Speaker 2: an idea of how they work. But I felt as 153 00:07:15,560 --> 00:07:17,760 Speaker 2: though it was it was really easy to set up, 154 00:07:18,040 --> 00:07:20,120 Speaker 2: it was really easy to put money into. It's a 155 00:07:20,320 --> 00:07:23,600 Speaker 2: really simple app. So I felt quite comfortable using it. 156 00:07:23,680 --> 00:07:25,360 Speaker 2: And I thought I was just going to put in 157 00:07:25,440 --> 00:07:27,160 Speaker 2: a little bit of money in it and to hope, 158 00:07:27,360 --> 00:07:28,640 Speaker 2: you know, that it would work out. And I was 159 00:07:28,640 --> 00:07:30,960 Speaker 2: comfortable putting that small amount, but I would never well, 160 00:07:31,040 --> 00:07:33,120 Speaker 2: at the moment, I wouldn't put a large amount in there. 161 00:07:33,400 --> 00:07:34,120 Speaker 3: Yeah, that's fair. 162 00:07:34,280 --> 00:07:36,600 Speaker 1: And I also just add like this isn't the most 163 00:07:36,680 --> 00:07:39,040 Speaker 1: rational thing to say, and probably not technically correct, but 164 00:07:39,160 --> 00:07:44,560 Speaker 1: like the fomo was real with crypto. Yes, you hear 165 00:07:44,560 --> 00:07:46,720 Speaker 1: all these great stories and you're like, oh, I know 166 00:07:46,800 --> 00:07:48,680 Speaker 1: where children and I don't really get it, but this 167 00:07:48,720 --> 00:07:49,560 Speaker 1: guy made this much. 168 00:07:51,800 --> 00:07:55,000 Speaker 2: Yeah, yeah, I mean I kind of off the record. 169 00:07:55,040 --> 00:07:57,720 Speaker 2: I just saw one that I didn't just specifically do 170 00:07:57,800 --> 00:08:01,880 Speaker 2: this one, but I saw something influencer I don't know, 171 00:08:01,920 --> 00:08:04,400 Speaker 2: on Instagram being like, oh, you know, this coin's booming. 172 00:08:04,440 --> 00:08:06,000 Speaker 2: So it was all right, I put five dollars in it. 173 00:08:06,200 --> 00:08:10,280 Speaker 3: Really indeed, I love that. Is it too pervy to 174 00:08:10,320 --> 00:08:13,880 Speaker 3: ask you how much you invested to begin with five dollars? Yep? 175 00:08:14,000 --> 00:08:15,480 Speaker 2: So then I started adding. 176 00:08:15,200 --> 00:08:17,640 Speaker 3: In more And what are you at now? 177 00:08:17,640 --> 00:08:18,720 Speaker 2: Maybe a couple of hundred? 178 00:08:19,080 --> 00:08:21,560 Speaker 3: Oh, how good? And it's doing well. 179 00:08:22,040 --> 00:08:23,920 Speaker 2: Yeah, it's doing really well. It was just I think 180 00:08:23,960 --> 00:08:26,200 Speaker 2: it was one of those just that boomed, and I'm 181 00:08:26,200 --> 00:08:30,160 Speaker 2: not really sure on how specifically they work, but I 182 00:08:30,200 --> 00:08:31,880 Speaker 2: was confident, you know, we're just putting in a little 183 00:08:31,880 --> 00:08:34,200 Speaker 2: bit of money. If it was if I lost it, 184 00:08:34,240 --> 00:08:37,360 Speaker 2: I wasn't too upset about losing it, you know, just 185 00:08:37,440 --> 00:08:38,280 Speaker 2: give it a shot. 186 00:08:38,520 --> 00:08:39,880 Speaker 1: Can we skip ahead? I know I said I was 187 00:08:39,880 --> 00:08:41,120 Speaker 1: going to wait TI later, but I feel like we're 188 00:08:41,160 --> 00:08:43,880 Speaker 1: here now. Is it fair to say Victoria and correct 189 00:08:43,880 --> 00:08:45,800 Speaker 1: me if I'm wrong? You are the she and she's 190 00:08:45,800 --> 00:08:46,320 Speaker 1: on the money. 191 00:08:46,679 --> 00:08:48,960 Speaker 3: Is that that? 192 00:08:49,600 --> 00:08:52,079 Speaker 1: Is it fair to say the philosophy that our money 193 00:08:52,080 --> 00:08:54,840 Speaker 1: direct today has towards crypto can be the first philosophy 194 00:08:54,840 --> 00:08:56,839 Speaker 1: with investing in that it doesn't you don't have to 195 00:08:56,880 --> 00:08:58,560 Speaker 1: put your whole sixty grand in something tomorrow. 196 00:08:58,559 --> 00:08:59,320 Speaker 4: You can start with. 197 00:08:59,320 --> 00:09:00,800 Speaker 1: A little bit here and see how you feel and 198 00:09:01,080 --> 00:09:03,120 Speaker 1: play to the confidence grows, and then you do another. 199 00:09:02,920 --> 00:09:05,640 Speaker 3: Little bit totally. And I find that people who have 200 00:09:05,760 --> 00:09:08,920 Speaker 3: saved very significant amounts of money are far less likely 201 00:09:09,000 --> 00:09:13,120 Speaker 3: to invest seriously. And when I say seriously, I say 202 00:09:13,120 --> 00:09:16,240 Speaker 3: that with quotation marks, because I mean actually start a 203 00:09:16,280 --> 00:09:20,400 Speaker 3: share portfolio. They're more likely to do something small like crypto. 204 00:09:20,760 --> 00:09:24,040 Speaker 3: And you hear about your friend who you know, maybe 205 00:09:24,040 --> 00:09:26,760 Speaker 3: saved sixty grand and they're investing in crypto, so you 206 00:09:26,800 --> 00:09:29,559 Speaker 3: automatically assume it might be, you know, a safe option 207 00:09:29,679 --> 00:09:32,000 Speaker 3: or a good option, when in reality it's not. They're 208 00:09:32,040 --> 00:09:34,120 Speaker 3: just testing the waters and having a bit of a play, 209 00:09:34,520 --> 00:09:37,000 Speaker 3: and it's actually not reflective of their money story because 210 00:09:37,000 --> 00:09:39,760 Speaker 3: they'd never put that sixty thousand dollars at risk. So 211 00:09:39,880 --> 00:09:42,400 Speaker 3: for me, I think it's interesting because I see it 212 00:09:42,440 --> 00:09:44,719 Speaker 3: all the time. But these are the people that are 213 00:09:44,720 --> 00:09:47,520 Speaker 3: more likely to spend a longer time making a decision 214 00:09:47,559 --> 00:09:49,960 Speaker 3: about a share portfolio because it feels like a bigger, 215 00:09:50,000 --> 00:09:54,079 Speaker 3: more long term decision, and they assume they'll put a 216 00:09:54,200 --> 00:09:57,360 Speaker 3: very significant amount of money into that. They might not, 217 00:09:57,480 --> 00:09:59,720 Speaker 3: they might, but they just they operate under that a 218 00:09:59,720 --> 00:10:02,880 Speaker 3: summ and from there, I feel like they then see 219 00:10:02,880 --> 00:10:04,840 Speaker 3: it as a more serious decision that needs a lot 220 00:10:04,920 --> 00:10:07,600 Speaker 3: of thought, not just chucking five bucks in crypto. Would 221 00:10:07,600 --> 00:10:10,160 Speaker 3: you say that's about right when it comes to actually 222 00:10:10,240 --> 00:10:13,200 Speaker 3: starting an investment portfolio one hundred percent. 223 00:10:13,320 --> 00:10:15,679 Speaker 2: Yeah, I mean exactly how you said it. It was kind 224 00:10:15,679 --> 00:10:19,160 Speaker 2: of just a play to get my poes in the water. 225 00:10:19,360 --> 00:10:22,240 Speaker 2: I wasn't really comfortable in putting a large amount in there, 226 00:10:22,240 --> 00:10:23,520 Speaker 2: so I just want to see, you know, see how 227 00:10:23,559 --> 00:10:26,160 Speaker 2: it works. And you know, I think for me, even 228 00:10:26,200 --> 00:10:29,320 Speaker 2: just putting in even if I lost the twenty dollars 229 00:10:29,360 --> 00:10:32,079 Speaker 2: or whatever I put in there at the start, I 230 00:10:32,120 --> 00:10:34,440 Speaker 2: feel as though I learned a little bit more and 231 00:10:34,480 --> 00:10:36,600 Speaker 2: that was worth it for me just to get an 232 00:10:36,640 --> 00:10:39,559 Speaker 2: idea and then I can kind of grow my confidence. 233 00:10:39,559 --> 00:10:40,839 Speaker 2: So one hundred pcent I would agree. 234 00:10:40,920 --> 00:10:43,560 Speaker 3: I'm totally all for that. And I think people think 235 00:10:43,600 --> 00:10:47,160 Speaker 3: I'm so negative on crypto, and look, I don't invest 236 00:10:47,160 --> 00:10:50,000 Speaker 3: in it personally, and it's not something that I have 237 00:10:50,080 --> 00:10:52,960 Speaker 3: any interest in because I do have a long term 238 00:10:53,040 --> 00:10:56,320 Speaker 3: asset that I am building, and I'd prefer stability over 239 00:10:56,720 --> 00:10:59,600 Speaker 3: not stability. But I can see where people are coming 240 00:10:59,600 --> 00:11:01,920 Speaker 3: from with Victoria way so harsh and I'm just having 241 00:11:01,960 --> 00:11:03,880 Speaker 3: a play. I'm like, no, no, no, you can have a play. 242 00:11:03,960 --> 00:11:06,120 Speaker 3: But there are people that get mixed up and they 243 00:11:06,200 --> 00:11:09,080 Speaker 3: see these great money stories and people who have saved 244 00:11:09,120 --> 00:11:11,000 Speaker 3: epic amounts and they go, oh, well, I don't know 245 00:11:11,000 --> 00:11:13,880 Speaker 3: the whole story. But Ryan John he's a great saveror 246 00:11:13,920 --> 00:11:16,320 Speaker 3: and he invested in crypto, so it must be a 247 00:11:16,320 --> 00:11:19,440 Speaker 3: good option when in reality, like we're making decisions about 248 00:11:19,480 --> 00:11:23,080 Speaker 3: our personal situations, not about something that could create us 249 00:11:23,120 --> 00:11:23,880 Speaker 3: long term wealth. 250 00:11:24,120 --> 00:11:28,080 Speaker 1: Yeah, we could do another episode. 251 00:11:28,920 --> 00:11:32,000 Speaker 3: Yeah, let's go to the next question. So do you 252 00:11:32,040 --> 00:11:34,200 Speaker 3: have any debts of any kind? And if so, what 253 00:11:34,320 --> 00:11:36,680 Speaker 3: are they? And if you don't, how do you feel 254 00:11:36,720 --> 00:11:37,720 Speaker 3: about debt? 255 00:11:38,120 --> 00:11:41,440 Speaker 2: I do currently have debat, So the only debt I 256 00:11:41,520 --> 00:11:43,800 Speaker 2: have is my hex debt, which I believe is around 257 00:11:44,640 --> 00:11:50,280 Speaker 2: sixteen thousand dollars. I've always believed. Even working in finance now, 258 00:11:50,280 --> 00:11:54,360 Speaker 2: I get a good understanding of people living within your means. 259 00:11:54,440 --> 00:11:57,600 Speaker 2: So I've listened to a lot of you know that 260 00:11:57,600 --> 00:11:59,440 Speaker 2: she's in the Money podcast and hers. You know, there's 261 00:11:59,440 --> 00:12:01,880 Speaker 2: good debt and bad debt, and in my mind hex 262 00:12:01,960 --> 00:12:07,120 Speaker 2: septs the good debt. I'm investing towards my future, paying 263 00:12:07,600 --> 00:12:10,720 Speaker 2: any interest other than inflation, which I don't have a 264 00:12:10,760 --> 00:12:14,240 Speaker 2: problem with. I don't have any other debts, you know, 265 00:12:14,360 --> 00:12:16,560 Speaker 2: like personals or car loans. I'm a big believer in, 266 00:12:16,600 --> 00:12:19,840 Speaker 2: you know, if you rather to save up something and 267 00:12:19,880 --> 00:12:21,840 Speaker 2: not to have a massive loan, because I know how 268 00:12:21,960 --> 00:12:24,880 Speaker 2: hyped interests they are. However, I'm saying, so I would 269 00:12:24,960 --> 00:12:27,520 Speaker 2: love to buy a house, you know, once I finish 270 00:12:27,600 --> 00:12:30,000 Speaker 2: my unique degree, or an investment property something like that, 271 00:12:30,240 --> 00:12:34,520 Speaker 2: to get one of my investments, you know, portfolio started. 272 00:12:34,559 --> 00:12:37,400 Speaker 2: So I'm happy to have something that would grow my 273 00:12:37,520 --> 00:12:41,000 Speaker 2: wealth and you know, help me with my money journey. 274 00:12:42,520 --> 00:12:44,800 Speaker 2: But I'm not interested, you know, getting a personal loan 275 00:12:44,880 --> 00:12:46,840 Speaker 2: or anything like that at the moment, just because I 276 00:12:46,840 --> 00:12:48,640 Speaker 2: have seen, you know, how high interests say and how 277 00:12:48,720 --> 00:12:49,680 Speaker 2: much you're paying for it. 278 00:12:50,120 --> 00:12:51,720 Speaker 3: Straight out, don't do that terrible idea. 279 00:12:51,880 --> 00:12:55,200 Speaker 1: Yeah, I love how well versed people are who've been 280 00:12:55,200 --> 00:12:56,480 Speaker 1: listening to the podcast, because my. 281 00:12:56,559 --> 00:12:58,520 Speaker 3: I always in my own tone of voice. 282 00:12:58,720 --> 00:13:01,600 Speaker 1: But every time people to about X, I always say, yeah, cool, 283 00:13:01,600 --> 00:13:03,200 Speaker 1: but what's your thoughts on good debt, bad debt? And 284 00:13:03,240 --> 00:13:05,839 Speaker 1: now today's money. Dice already knows the question before it's done. 285 00:13:06,200 --> 00:13:08,200 Speaker 1: But it's a good debt. I'm investing in my future 286 00:13:08,240 --> 00:13:09,880 Speaker 1: and I'm all for it, and it's fine. And the 287 00:13:09,920 --> 00:13:11,960 Speaker 1: fact that you already know that is is awesome. 288 00:13:12,120 --> 00:13:13,920 Speaker 3: It makes my heart so happy. 289 00:13:14,600 --> 00:13:16,679 Speaker 2: Yeah. Well, I work in finance as well, so I 290 00:13:16,720 --> 00:13:19,079 Speaker 2: have a little bit of understanding of I specifically work 291 00:13:19,160 --> 00:13:22,000 Speaker 2: more in debt, so I have a bit more of 292 00:13:22,040 --> 00:13:25,720 Speaker 2: an understanding. And I've seen you know, how people's work, 293 00:13:26,040 --> 00:13:28,800 Speaker 2: and I, you know, I've just had people, you know, 294 00:13:28,880 --> 00:13:31,240 Speaker 2: other people's stories around me about how debt works. I'm 295 00:13:31,240 --> 00:13:34,640 Speaker 2: a bit more conscious towards it, and I do teach 296 00:13:34,720 --> 00:13:36,600 Speaker 2: us that you need to know. One of the topics 297 00:13:36,679 --> 00:13:38,560 Speaker 2: is finance. You kind of get an understanding of how 298 00:13:38,600 --> 00:13:41,360 Speaker 2: the different interest rates works and compound and all of that. 299 00:13:41,440 --> 00:13:43,480 Speaker 2: So I kind of have a little bit of. 300 00:13:43,440 --> 00:13:47,040 Speaker 3: Knowledge about to start, right and yeah, well, yeah, well played, 301 00:13:47,200 --> 00:13:50,160 Speaker 3: well played. You're ahead of all the listeners, all right, 302 00:13:50,240 --> 00:13:52,160 Speaker 3: So we're going to jump into the next question, which 303 00:13:52,200 --> 00:13:53,959 Speaker 3: is do you have any good money habits that you're 304 00:13:54,000 --> 00:13:56,199 Speaker 3: especially proud of. I feel like maybe I already know 305 00:13:56,280 --> 00:13:57,000 Speaker 3: the answer to this. 306 00:13:57,640 --> 00:14:02,040 Speaker 2: I have a very compon tensive Excel spreadsheet that I use, 307 00:14:02,840 --> 00:14:04,440 Speaker 2: so it kind of tinds in even as being a 308 00:14:04,440 --> 00:14:06,520 Speaker 2: bit of a bad money habit, because sometimes I'm a 309 00:14:06,520 --> 00:14:09,440 Speaker 2: bit obsessed with it, but I really like it. So 310 00:14:09,480 --> 00:14:12,520 Speaker 2: I split out my spendings and what I'm earning every 311 00:14:12,520 --> 00:14:14,600 Speaker 2: week and then kind of mapping out what I'm saving 312 00:14:15,559 --> 00:14:17,120 Speaker 2: so I don't go down, you know, to the sense, 313 00:14:17,160 --> 00:14:18,760 Speaker 2: but I'm just getting a general idea of, you know, 314 00:14:18,800 --> 00:14:21,200 Speaker 2: how much I'm spending on through a week, on my car, 315 00:14:21,440 --> 00:14:24,160 Speaker 2: on shopping, any things like that. So I think that's 316 00:14:24,160 --> 00:14:26,360 Speaker 2: my best money habit of keeping on track of my 317 00:14:26,440 --> 00:14:29,280 Speaker 2: spending and seeing you know, where it goes month to months. 318 00:14:29,920 --> 00:14:32,520 Speaker 3: Awesome. I love that. And to flip it on its head, 319 00:14:32,680 --> 00:14:34,360 Speaker 3: what is your worst money habit? 320 00:14:35,160 --> 00:14:38,400 Speaker 2: As I probably said, my worst money habit would be 321 00:14:38,400 --> 00:14:41,000 Speaker 2: being a little bit tight with that spending. You know, 322 00:14:41,120 --> 00:14:44,280 Speaker 2: I don't really like when it goes over a certain amount. 323 00:14:44,280 --> 00:14:46,040 Speaker 2: I get a little bit you know, conscious, and I 324 00:14:46,080 --> 00:14:48,280 Speaker 2: have to feel in you know, every single time I 325 00:14:48,320 --> 00:14:50,760 Speaker 2: spend something, and sometimes I feel as though, you know, 326 00:14:50,840 --> 00:14:53,040 Speaker 2: I don't want to spend money because I don't want 327 00:14:53,080 --> 00:14:56,280 Speaker 2: to you know, see it, and I'll avoid that. But 328 00:14:56,400 --> 00:14:58,360 Speaker 2: I also think, you know, keeps me on track and 329 00:14:58,360 --> 00:15:01,160 Speaker 2: probably my other not really bad money habit, but something 330 00:15:01,200 --> 00:15:03,000 Speaker 2: where I could improve on is the fact that, you know, 331 00:15:03,920 --> 00:15:06,520 Speaker 2: I do have an amount of savings and I'm not 332 00:15:06,600 --> 00:15:08,720 Speaker 2: really doing anything with it just because interest rates are 333 00:15:08,720 --> 00:15:11,080 Speaker 2: obviously really low in banks, so it's not really making 334 00:15:11,120 --> 00:15:12,520 Speaker 2: me much money at the moment. 335 00:15:12,800 --> 00:15:15,400 Speaker 3: So what are you currently saving for? What's your big 336 00:15:15,400 --> 00:15:16,560 Speaker 3: money goal at the moment? 337 00:15:18,240 --> 00:15:21,720 Speaker 2: I would love so I'm probably going to finish Union 338 00:15:21,760 --> 00:15:25,200 Speaker 2: at the end of this year, so I would love 339 00:15:25,240 --> 00:15:28,760 Speaker 2: to once I get, you know, something in my shield 340 00:15:28,800 --> 00:15:31,040 Speaker 2: and I get something a little bit more permanent to 341 00:15:31,920 --> 00:15:35,120 Speaker 2: put my money into an investment property, a bit more 342 00:15:35,160 --> 00:15:37,200 Speaker 2: of a say for us, end of my mind, It's 343 00:15:37,240 --> 00:15:39,440 Speaker 2: something I've always wanted to do, just because I'm no 344 00:15:39,560 --> 00:15:42,200 Speaker 2: people and family and they've always had good experiences, so 345 00:15:42,240 --> 00:15:44,280 Speaker 2: they have a little bit more experience with it, and 346 00:15:44,320 --> 00:15:47,040 Speaker 2: I think that's what I would be saving for. I 347 00:15:47,160 --> 00:15:49,920 Speaker 2: was saving previously up for a trip to Canada. I 348 00:15:49,920 --> 00:15:52,440 Speaker 2: was supposed to move to Canada for six months with UNI, 349 00:15:52,760 --> 00:15:55,800 Speaker 2: but that got canceled, so no major traveling. But I 350 00:15:55,840 --> 00:15:57,680 Speaker 2: love traveling, so if we could travel, it would be 351 00:15:57,800 --> 00:15:58,560 Speaker 2: towards traveling. 352 00:15:59,400 --> 00:16:04,960 Speaker 4: If we had for every money diary, I was going overseas. 353 00:16:04,800 --> 00:16:08,720 Speaker 3: I would be so rich. So how would you rate 354 00:16:08,760 --> 00:16:11,400 Speaker 3: yourself if I forced you to give yourself a financial rating? 355 00:16:11,920 --> 00:16:16,160 Speaker 2: I think I'm would give myself and a minus slash 356 00:16:16,320 --> 00:16:19,000 Speaker 2: fee plus because I think I have some good money 357 00:16:19,000 --> 00:16:23,680 Speaker 2: habits and keeping on top of my spending. I also 358 00:16:24,440 --> 00:16:27,080 Speaker 2: quite am realistic and good with transferring, you know, my 359 00:16:27,160 --> 00:16:30,160 Speaker 2: money into the account that needs to be in once 360 00:16:30,200 --> 00:16:32,760 Speaker 2: I receive my income every week. 361 00:16:33,120 --> 00:16:47,280 Speaker 3: I love that. Ryan, What did you think of that 362 00:16:47,400 --> 00:16:48,120 Speaker 3: money diary? 363 00:16:48,720 --> 00:16:49,960 Speaker 4: I just think it's really impressive. 364 00:16:50,800 --> 00:16:54,040 Speaker 3: Yeah, me too. I'm also impressed with how blast you 365 00:16:54,080 --> 00:16:57,320 Speaker 3: are about it. You're like, yeah, it's good, Like no, no, no, no, friends, 366 00:16:57,360 --> 00:16:59,960 Speaker 3: that's epic, it's really good. Like that's really really good. 367 00:17:01,680 --> 00:17:04,920 Speaker 3: So no, And are you proud of yourself for achieving 368 00:17:04,960 --> 00:17:06,959 Speaker 3: that or is that something you're like no, no, no, 369 00:17:07,080 --> 00:17:09,240 Speaker 3: like I've got so much further to go, or are 370 00:17:09,240 --> 00:17:11,680 Speaker 3: you just like WHOA, I never saw this coming. How 371 00:17:11,680 --> 00:17:13,760 Speaker 3: do you feel about having so many savings at such 372 00:17:13,800 --> 00:17:14,679 Speaker 3: a young age. 373 00:17:15,280 --> 00:17:18,480 Speaker 2: I feel really good. I think it's setting me up 374 00:17:18,680 --> 00:17:21,560 Speaker 2: to where I want to go. I've always been raised, 375 00:17:21,640 --> 00:17:24,439 Speaker 2: you know, to be quite practical with money and have 376 00:17:24,680 --> 00:17:26,800 Speaker 2: you know something for a rainy date. It's never been 377 00:17:26,920 --> 00:17:30,159 Speaker 2: I've always had that kind of mentality to be wise 378 00:17:30,200 --> 00:17:32,320 Speaker 2: with my money. But I am really proud of it. 379 00:17:32,680 --> 00:17:36,000 Speaker 2: You know, starting off when I finished highle I was 380 00:17:36,040 --> 00:17:38,000 Speaker 2: just earning you know, the minimum rate, and it was 381 00:17:38,040 --> 00:17:40,520 Speaker 2: hard to put in savings. And then I was lucky 382 00:17:40,600 --> 00:17:44,560 Speaker 2: enough to get some more of a I guess, a 383 00:17:44,600 --> 00:17:47,080 Speaker 2: grown up job, not that you know, other jobs aren't, 384 00:17:48,440 --> 00:17:50,520 Speaker 2: but somewhere, you know, where I was able to get 385 00:17:50,560 --> 00:17:52,600 Speaker 2: my five days a week, work my nine to five 386 00:17:54,520 --> 00:17:57,200 Speaker 2: and start building up from there. And I guess also 387 00:17:57,280 --> 00:18:00,760 Speaker 2: being around other, you know, people a little older than me, 388 00:18:00,920 --> 00:18:03,600 Speaker 2: they're a little bit wiser with money, and we're more 389 00:18:05,480 --> 00:18:07,760 Speaker 2: kind of aware of where the money was going. And 390 00:18:07,760 --> 00:18:09,639 Speaker 2: I think that helped me, and as well, work in 391 00:18:09,680 --> 00:18:12,960 Speaker 2: the finance industry made me more conscious about it. But 392 00:18:13,040 --> 00:18:15,080 Speaker 2: I am really proud. I mean, I know it's quite 393 00:18:15,119 --> 00:18:17,960 Speaker 2: a privileged position to be in, but I'm really happy 394 00:18:18,040 --> 00:18:18,720 Speaker 2: with where I'm at. 395 00:18:18,960 --> 00:18:21,800 Speaker 3: I love that, so like off track, I know you're 396 00:18:21,840 --> 00:18:24,439 Speaker 3: studying at the moment and you're working in finance. What 397 00:18:24,440 --> 00:18:26,639 Speaker 3: do you want to be when you grow up? I 398 00:18:26,720 --> 00:18:27,400 Speaker 3: ever grow up? 399 00:18:27,480 --> 00:18:31,000 Speaker 2: That is, I really want to work in marketing. So 400 00:18:31,080 --> 00:18:34,600 Speaker 2: my commerce major is marketing, So I'd really like to 401 00:18:34,680 --> 00:18:38,120 Speaker 2: work in something like Formula one marketing or one of. 402 00:18:38,520 --> 00:18:42,520 Speaker 3: Formula one marketing. That's a specific and random feel here. 403 00:18:42,600 --> 00:18:44,320 Speaker 3: I am being like, oh my gosh, she's like got 404 00:18:44,320 --> 00:18:47,560 Speaker 3: a finance background, she wants to work in marketing, Like 405 00:18:47,560 --> 00:18:49,680 Speaker 3: that's perfect fit for she's on the money. And you're like, 406 00:18:49,760 --> 00:18:53,639 Speaker 3: I want to work for the Formula one or or 407 00:18:53,720 --> 00:18:54,520 Speaker 3: she's on the money. 408 00:18:55,960 --> 00:18:57,320 Speaker 2: She's on the money. You're like, if you have a 409 00:18:57,440 --> 00:19:03,280 Speaker 2: marketing of you know, but yeah, something around marketing, even 410 00:19:03,320 --> 00:19:05,880 Speaker 2: different brands, and like I've just kind of looked into 411 00:19:05,920 --> 00:19:08,680 Speaker 2: grad jobs, maybe something great MESA or I'm not sure 412 00:19:08,680 --> 00:19:11,000 Speaker 2: if I'm a lot of statistic brand, but. 413 00:19:11,200 --> 00:19:13,520 Speaker 3: You totally can because like they might contact me and 414 00:19:13,520 --> 00:19:16,200 Speaker 3: be like, hey, that girl, we've got an internship, like 415 00:19:16,280 --> 00:19:16,960 Speaker 3: let's name it. 416 00:19:18,040 --> 00:19:20,960 Speaker 2: Yes, somewhere like that mesas before. I'm really into that 417 00:19:21,200 --> 00:19:24,720 Speaker 2: whole beauty industry as well, so bit specific, but anywhere 418 00:19:24,720 --> 00:19:27,920 Speaker 2: in the marketing kind of pr Field I'm really interested in. 419 00:19:29,080 --> 00:19:30,800 Speaker 2: I'm not a hundred tent sure you know about the 420 00:19:30,920 --> 00:19:33,280 Speaker 2: law yet, but I know I really love marketing. 421 00:19:33,680 --> 00:19:37,520 Speaker 1: You'd be surprised how convenient is to have those law skills. 422 00:19:37,600 --> 00:19:39,040 Speaker 1: But you don't have to be a lawyer. I think 423 00:19:39,040 --> 00:19:40,800 Speaker 1: there's a big assumption that you get a law degree, 424 00:19:40,840 --> 00:19:42,919 Speaker 1: you become a lawyer, but it's actually valuable in so. 425 00:19:42,800 --> 00:19:43,679 Speaker 4: Many different fields. 426 00:19:43,680 --> 00:19:46,840 Speaker 1: And I mean you deal with legal stuff all the time. 427 00:19:47,160 --> 00:19:48,840 Speaker 1: We're good friends with the people at a Door Beauty, 428 00:19:48,840 --> 00:19:50,800 Speaker 1: So actually send me another email if you want to internship. 429 00:19:50,800 --> 00:19:51,679 Speaker 4: We'll see if we can hook you up. 430 00:19:52,760 --> 00:19:56,720 Speaker 2: We could see Obsessed. I listened to you know, their podcast. 431 00:19:56,800 --> 00:19:59,040 Speaker 2: I'm obsessed with the door Beauty. I spend half my 432 00:19:59,119 --> 00:19:59,760 Speaker 2: paycheck there. 433 00:20:00,160 --> 00:20:00,679 Speaker 4: I love that. 434 00:20:01,240 --> 00:20:02,919 Speaker 1: I actually did you hear the episode when they were 435 00:20:02,960 --> 00:20:04,520 Speaker 1: on Ches on the Money and I knew nothing that 436 00:20:04,600 --> 00:20:05,760 Speaker 1: was said over the whole hour? 437 00:20:05,920 --> 00:20:08,240 Speaker 3: Yeah, you were like what new phone? 438 00:20:08,760 --> 00:20:10,240 Speaker 2: I think I did hear that? Yeah? Yeah. And I 439 00:20:10,320 --> 00:20:13,200 Speaker 2: also love like Hannah and I'm not sure if I'm 440 00:20:13,200 --> 00:20:14,640 Speaker 2: a left Yeah. 441 00:20:14,640 --> 00:20:15,840 Speaker 3: We're actually friends with them. 442 00:20:16,200 --> 00:20:18,800 Speaker 2: Kate, Hannah and Joe. I'm a death Hannah. 443 00:20:19,560 --> 00:20:22,600 Speaker 3: I love that Kate started a door well, speaking of 444 00:20:22,640 --> 00:20:26,840 Speaker 3: internships or I guess first jobs, I'm just randomly curious. 445 00:20:27,160 --> 00:20:28,840 Speaker 4: Your first job was nine dollars an hour when you 446 00:20:28,880 --> 00:20:31,160 Speaker 4: were fourteen or fifteen? What was it? 447 00:20:31,160 --> 00:20:33,639 Speaker 2: It was working at a bakery, just at one of 448 00:20:33,640 --> 00:20:35,800 Speaker 2: the local bakeries down the road. For me, maybe it 449 00:20:35,800 --> 00:20:36,720 Speaker 2: was ten dollars or something that. 450 00:20:36,760 --> 00:20:39,160 Speaker 1: Well, here's the challenge for people in the Facebook group. 451 00:20:39,240 --> 00:20:41,399 Speaker 1: My first job. I used to push trolleys at the 452 00:20:41,440 --> 00:20:43,879 Speaker 1: alpham like woolies and coals and stuff. And I got 453 00:20:43,880 --> 00:20:46,600 Speaker 1: paid seven dollars twenty an hour. And I wonder if 454 00:20:46,600 --> 00:20:48,399 Speaker 1: anyone can beat that in terms of how low can 455 00:20:48,440 --> 00:20:48,720 Speaker 1: you go? 456 00:20:48,920 --> 00:20:52,560 Speaker 3: I really can. I was scooping ice cream on the 457 00:20:52,600 --> 00:20:55,640 Speaker 3: main street of Dromana at the age of fourteen years 458 00:20:55,680 --> 00:20:58,360 Speaker 3: and nine months. I can't remember the ice cream store name, 459 00:20:58,640 --> 00:21:00,600 Speaker 3: but for those of you who live low call it's 460 00:21:00,640 --> 00:21:02,920 Speaker 3: the one that you used to be beside two boys. 461 00:21:03,040 --> 00:21:05,920 Speaker 3: Everybody knows two boys, if you know what, I'm Nicole, 462 00:21:05,960 --> 00:21:09,040 Speaker 3: and I know you know you know. And I earned 463 00:21:09,080 --> 00:21:10,520 Speaker 3: six dollars fifty an hour. 464 00:21:11,359 --> 00:21:13,480 Speaker 4: Look out. I was a big dog, big dog in 465 00:21:13,520 --> 00:21:14,000 Speaker 4: six fifty. 466 00:21:14,040 --> 00:21:15,919 Speaker 3: Do I have any of that money still? No? I 467 00:21:15,960 --> 00:21:17,240 Speaker 3: had terrible savings habits. 468 00:21:17,800 --> 00:21:19,639 Speaker 4: I know we touched on it earlier. 469 00:21:19,720 --> 00:21:21,439 Speaker 1: Well, we spoke a lot about it earlier, about the 470 00:21:21,840 --> 00:21:25,760 Speaker 1: you know, savings versus investing. And obviously we can't give 471 00:21:26,200 --> 00:21:31,840 Speaker 1: specific advice to you personally legally, but if someone came 472 00:21:31,880 --> 00:21:34,320 Speaker 1: to you with an amount like that and they weren't sure, 473 00:21:34,760 --> 00:21:37,560 Speaker 1: what is an amount that you might say, here's a 474 00:21:37,560 --> 00:21:39,399 Speaker 1: bit too. Even if it's not about the money, it's 475 00:21:39,400 --> 00:21:42,480 Speaker 1: about educating yourself. What's a first little entry point. What's 476 00:21:42,480 --> 00:21:46,160 Speaker 1: the next step for someone in similar to money Diary's position. 477 00:21:46,400 --> 00:21:50,000 Speaker 3: Oh, like, hypothetically, if I was dishing out advice to 478 00:21:50,040 --> 00:21:54,080 Speaker 3: someone who hypothetically had a large amount of savings, I 479 00:21:54,119 --> 00:21:56,520 Speaker 3: would recommend that they start just doing their research. And 480 00:21:56,560 --> 00:21:58,320 Speaker 3: I know that that sounds so bad. And Ryan, you 481 00:21:58,400 --> 00:22:00,720 Speaker 3: actually yelled at me the other day and you're like, Victoria, 482 00:22:01,080 --> 00:22:03,600 Speaker 3: do you know how many people their research is listening 483 00:22:03,640 --> 00:22:04,280 Speaker 3: to your podcast? 484 00:22:04,359 --> 00:22:05,560 Speaker 4: We're doing their research right now. 485 00:22:05,640 --> 00:22:07,880 Speaker 3: Yah, research right now, they're learning. And I'm like, yeah, 486 00:22:07,880 --> 00:22:11,119 Speaker 3: they are. That. I don't want people to only have 487 00:22:11,200 --> 00:22:13,600 Speaker 3: my opinion as the only one, because we're all different 488 00:22:13,640 --> 00:22:16,200 Speaker 3: and my opinion might not be the right opinion for you, 489 00:22:16,560 --> 00:22:19,320 Speaker 3: So like, listen to other podcasts like Equity Mates, like 490 00:22:19,359 --> 00:22:23,120 Speaker 3: my Millennial Money, go online, read the smart Money website, 491 00:22:23,160 --> 00:22:26,600 Speaker 3: read all of the blogs like start learning, so that 492 00:22:26,680 --> 00:22:28,959 Speaker 3: you can start taking the first step and just like 493 00:22:29,000 --> 00:22:33,720 Speaker 3: you did, or just like Hypothetical Money does with buying 494 00:22:34,000 --> 00:22:37,399 Speaker 3: the crypto, jump into something that you think might be 495 00:22:37,440 --> 00:22:39,679 Speaker 3: the right fit, you don't have to put all your 496 00:22:39,680 --> 00:22:44,199 Speaker 3: life savings on board. Lots of ETFs are very accessible 497 00:22:44,280 --> 00:22:47,560 Speaker 3: now with lower entry points. There's lots of micro investing 498 00:22:47,600 --> 00:22:51,359 Speaker 3: platforms that exist that give you exposure to learning about 499 00:22:51,359 --> 00:22:54,120 Speaker 3: what investing is like. And there are you know, lots 500 00:22:54,160 --> 00:22:56,920 Speaker 3: of options on the table that don't mean that you 501 00:22:57,000 --> 00:22:58,880 Speaker 3: actually have to put your life savings up. 502 00:22:59,200 --> 00:23:02,560 Speaker 1: Yeah, money direst Again, this isn't advice, but having just 503 00:23:02,640 --> 00:23:05,840 Speaker 1: chatted about it and thinking about it and knowing that 504 00:23:05,920 --> 00:23:08,760 Speaker 1: you know, it's not all your money or nothing, do 505 00:23:08,800 --> 00:23:10,879 Speaker 1: you feel like you could have the confidence in the 506 00:23:10,880 --> 00:23:13,399 Speaker 1: next few months to invest a little bit in a 507 00:23:13,440 --> 00:23:15,720 Speaker 1: micro investing or something, even if it's just starting with 508 00:23:15,960 --> 00:23:18,119 Speaker 1: a five hundred or a thousand or so dollars, just 509 00:23:18,119 --> 00:23:20,080 Speaker 1: to learn and see what happens. 510 00:23:20,720 --> 00:23:24,200 Speaker 2: Yeah, I think so I have, even you know, listening 511 00:23:24,200 --> 00:23:27,560 Speaker 2: to the last few podcasts just about those micro investing 512 00:23:27,600 --> 00:23:30,160 Speaker 2: platforms looking into them, and I would feel a little 513 00:23:30,160 --> 00:23:33,919 Speaker 2: bit more confident. I think my major issues be like 514 00:23:34,040 --> 00:23:36,880 Speaker 2: not knowing you know where to invest into the bigger ones, 515 00:23:36,920 --> 00:23:38,879 Speaker 2: even though you know you could have the capital, I 516 00:23:38,920 --> 00:23:42,080 Speaker 2: just wouldn't know where or specifically what to invest in. 517 00:23:42,800 --> 00:23:45,720 Speaker 2: So I think the micro investment platforms is not like 518 00:23:45,720 --> 00:23:48,720 Speaker 2: I do want to start looking into in the near future, 519 00:23:49,280 --> 00:23:51,080 Speaker 2: just so I can get a little bit more exposure 520 00:23:51,080 --> 00:23:53,000 Speaker 2: and then building a bit more confidence from there. 521 00:23:53,200 --> 00:23:54,520 Speaker 4: Yeah, it is a really good place to start. 522 00:23:54,560 --> 00:23:56,880 Speaker 1: And we actually even though last week or the week before, 523 00:23:56,880 --> 00:23:58,119 Speaker 1: I'm not sure when it came out, but there was 524 00:23:58,119 --> 00:24:00,679 Speaker 1: a great investing episode the Victoria and George did. But 525 00:24:00,800 --> 00:24:03,119 Speaker 1: last year there was a couple apps answering lots of 526 00:24:03,200 --> 00:24:07,560 Speaker 1: questions about micro investing platforms and stuff. So, but Money 527 00:24:07,560 --> 00:24:11,000 Speaker 1: diarists very impressive and you're very humble about it, which 528 00:24:11,040 --> 00:24:14,320 Speaker 1: makes me not like you even more because so calm 529 00:24:14,400 --> 00:24:15,840 Speaker 1: to have that sort of money in. 530 00:24:16,840 --> 00:24:19,080 Speaker 3: It's like they're saying, you don't make friends with salad. 531 00:24:19,359 --> 00:24:20,960 Speaker 4: Yeah, you don't man friends with savings. 532 00:24:21,200 --> 00:24:22,919 Speaker 3: Yeah no, no, no, you just don't make friends with 533 00:24:22,960 --> 00:24:25,560 Speaker 3: things that are really good for you. Good advice like these. 534 00:24:25,640 --> 00:24:27,200 Speaker 4: Yeah, and it's really impressive. 535 00:24:27,200 --> 00:24:30,199 Speaker 1: How and I know you acknowledge that you know a 536 00:24:30,320 --> 00:24:33,240 Speaker 1: very privileged area and the living situation, but still the 537 00:24:33,240 --> 00:24:34,919 Speaker 1: discipline to be able to say how much you have 538 00:24:35,200 --> 00:24:36,160 Speaker 1: is really quite impressive. 539 00:24:36,200 --> 00:24:38,040 Speaker 3: Yeah, and I think that that's something that a lot 540 00:24:38,040 --> 00:24:40,840 Speaker 3: of people do underestimate, Like it obviously is privileged. Do 541 00:24:40,920 --> 00:24:43,159 Speaker 3: not get me wrong. Lots of people couldn't achieve that, 542 00:24:43,200 --> 00:24:46,600 Speaker 3: and it wouldn't be reasonable, totally understandable, and you shouldn't 543 00:24:46,600 --> 00:24:48,760 Speaker 3: be comparing yourself to the money diarists that are on 544 00:24:48,800 --> 00:24:51,880 Speaker 3: the podcast. These are just stories that you know, we 545 00:24:51,920 --> 00:24:54,240 Speaker 3: share one because we're proud of our community, but too 546 00:24:54,560 --> 00:24:57,200 Speaker 3: you can learn something from everybody, even if your situation 547 00:24:57,359 --> 00:25:00,159 Speaker 3: is different. But there are so many people who have 548 00:25:00,240 --> 00:25:02,920 Speaker 3: been given all of the same luxuries that you've been 549 00:25:02,960 --> 00:25:05,000 Speaker 3: afforded and not made the most of it. So it's 550 00:25:05,000 --> 00:25:05,680 Speaker 3: so nice. 551 00:25:05,480 --> 00:25:08,000 Speaker 1: To I stayed at home till money diars age and 552 00:25:08,040 --> 00:25:08,919 Speaker 1: I did not. 553 00:25:08,880 --> 00:25:12,960 Speaker 4: Have sixty I love that. 554 00:25:13,040 --> 00:25:14,679 Speaker 3: But that's so true, and so many people are going 555 00:25:14,720 --> 00:25:16,119 Speaker 3: to be listening to be like, oh my gosh, I 556 00:25:16,160 --> 00:25:17,960 Speaker 3: have not made the most of this situation. 557 00:25:18,200 --> 00:25:20,000 Speaker 2: Victoria would kill me. 558 00:25:20,400 --> 00:25:23,720 Speaker 1: Well, congratulations and thank you so much for sharing your story. 559 00:25:23,760 --> 00:25:24,800 Speaker 4: We really appreciate it. 560 00:25:25,000 --> 00:25:26,399 Speaker 2: Thank you so much for having me. 561 00:25:28,080 --> 00:25:30,040 Speaker 3: Just before we head off, we'd like to acknowledge and 562 00:25:30,080 --> 00:25:33,800 Speaker 3: pay respects to Australians amoriginal and to Irrestraight Islander people's 563 00:25:33,960 --> 00:25:37,080 Speaker 3: the traditional custodians of the lands, the waterways and the 564 00:25:37,119 --> 00:25:39,840 Speaker 3: skies all across Australia. We want to thank you for 565 00:25:39,880 --> 00:25:41,879 Speaker 3: sharing and for caring on the land on which we 566 00:25:41,880 --> 00:25:44,560 Speaker 3: are able to learn. We pay our respects to elder's 567 00:25:44,640 --> 00:25:47,920 Speaker 3: past and present, and we share our friendship and our kindness. 568 00:25:48,280 --> 00:25:50,959 Speaker 3: And let's remember the advice shared on money diaries and 569 00:25:51,000 --> 00:25:53,320 Speaker 3: She's on the money is general in nature and it 570 00:25:53,359 --> 00:25:56,880 Speaker 3: does not consider your individual circumstances. She's on the money 571 00:25:56,920 --> 00:25:59,879 Speaker 3: exists purely for educational purposes and should not be Really 572 00:26:00,000 --> 00:26:02,400 Speaker 3: i'd have gone to make an investment or financial decision, 573 00:26:02,680 --> 00:26:06,159 Speaker 3: and we promise I am actually an authorized representative of 574 00:26:06,200 --> 00:26:11,720 Speaker 3: Australia Specific Funds Management Proprietarily Limited ABIAN three four one 575 00:26:11,760 --> 00:26:15,600 Speaker 3: three two four six three two five seven AFSL double 576 00:26:15,640 --> 00:26:19,240 Speaker 3: three nine one five one. And thank you so much 577 00:26:19,280 --> 00:26:21,119 Speaker 3: to our producer Ryan John, who's sitting in front of 578 00:26:21,240 --> 00:26:24,439 Speaker 3: us and Beck our producer Angels for putting all this 579 00:26:24,560 --> 00:26:25,639 Speaker 3: together for us today. 580 00:26:26,680 --> 00:26:29,280 Speaker 1: Ryan dot John actually is on the money dot com 581 00:26:29,320 --> 00:26:32,040 Speaker 1: dot au. If you've got a great money story on 582 00:26:32,119 --> 00:26:33,959 Speaker 1: Great Money Diary that you think the rest of our 583 00:26:34,000 --> 00:26:36,880 Speaker 1: community would love to hear, shoot me a note would 584 00:26:36,960 --> 00:26:37,720 Speaker 1: love to hear from here. 585 00:26:38,400 --> 00:26:43,000 Speaker 3: We'll see you next week, guys,