1 00:00:00,200 --> 00:00:02,040 Speaker 1: She's on the Money. 2 00:00:02,160 --> 00:00:13,760 Speaker 2: She's on the Money. 3 00:00:20,200 --> 00:00:22,760 Speaker 1: Hello, and welcome to She's on the Money, the podcast 4 00:00:22,800 --> 00:00:25,400 Speaker 1: for millennials who want to financial freedom. I'm one of 5 00:00:25,400 --> 00:00:27,840 Speaker 1: your co hosts, Annabel Lee. As you know, I'm a 6 00:00:27,920 --> 00:00:30,160 Speaker 1: law student and a millennial and a bit of a rookie 7 00:00:30,160 --> 00:00:33,000 Speaker 1: when it comes to money. But to change that, every week, 8 00:00:33,040 --> 00:00:35,159 Speaker 1: I picked the brains of my friend and money expert 9 00:00:35,200 --> 00:00:39,000 Speaker 1: Victoria Devine. Hi, Victoria, Hi, friends, Now how She's on 10 00:00:39,000 --> 00:00:41,640 Speaker 1: the Money. Facebook group has been super active this week 11 00:00:41,760 --> 00:00:44,160 Speaker 1: as always, And you and I have seen so many 12 00:00:44,159 --> 00:00:47,360 Speaker 1: impressive money wins, haven't we We have so many, so 13 00:00:47,440 --> 00:00:49,360 Speaker 1: I think we should share our favorites from the week. 14 00:00:49,400 --> 00:00:50,519 Speaker 1: What have you got for me? Victoria? 15 00:00:50,640 --> 00:00:53,360 Speaker 3: All right, so this one I really like because it's 16 00:00:53,400 --> 00:00:56,319 Speaker 3: about a little bit of hustle. So we have one 17 00:00:56,360 --> 00:00:59,840 Speaker 3: from me again, And she posted that nine years ago, 18 00:01:00,120 --> 00:01:03,080 Speaker 3: I reported my then employer to the ATO for not 19 00:01:03,080 --> 00:01:06,360 Speaker 3: paying my super. At the time, my employer didn't understand 20 00:01:06,360 --> 00:01:08,000 Speaker 3: while I was making such a fuss, as I was 21 00:01:08,040 --> 00:01:10,440 Speaker 3: eighteen and wouldn't be able to access the funds until 22 00:01:10,440 --> 00:01:10,759 Speaker 3: I was. 23 00:01:10,760 --> 00:01:12,039 Speaker 4: Over the age of sixty five. 24 00:01:12,520 --> 00:01:14,959 Speaker 3: Today, I received a message from the ATO letting me 25 00:01:15,000 --> 00:01:16,920 Speaker 3: know that I had won my case and the money 26 00:01:16,920 --> 00:01:19,840 Speaker 3: should arrive soon into my super account. I'd totally forgotten 27 00:01:19,840 --> 00:01:21,600 Speaker 3: about the case as it had taken so long. 28 00:01:21,720 --> 00:01:22,400 Speaker 4: How good is that? 29 00:01:22,400 --> 00:01:24,960 Speaker 1: That also is very dodgy on the employee's behalf. 30 00:01:24,760 --> 00:01:28,040 Speaker 3: Right, But it's so common. It is so common, especially 31 00:01:28,040 --> 00:01:30,720 Speaker 3: for people who are working in part time slash casual 32 00:01:30,880 --> 00:01:34,480 Speaker 3: roles companies who maybe don't pay their super or don't 33 00:01:34,800 --> 00:01:37,080 Speaker 3: keep up with what they're meant to be paying. So 34 00:01:37,160 --> 00:01:38,880 Speaker 3: it really pays to check your pay slips. 35 00:01:39,000 --> 00:01:39,200 Speaker 5: Yeah. 36 00:01:39,200 --> 00:01:40,640 Speaker 1: Actually, I'm pretty sure that might have happened to me 37 00:01:40,680 --> 00:01:41,160 Speaker 1: in the past. 38 00:01:41,400 --> 00:01:42,160 Speaker 4: Double chick, My. 39 00:01:42,160 --> 00:01:43,840 Speaker 1: Super is looking really grim right now. 40 00:01:43,920 --> 00:01:44,680 Speaker 4: Double check. 41 00:01:45,160 --> 00:01:47,560 Speaker 1: I've got one from Maddie. She said, money Win. Got 42 00:01:47,560 --> 00:01:49,560 Speaker 1: my hair done at my local tape yesterday for a 43 00:01:49,640 --> 00:01:52,720 Speaker 1: sweet forty dollars. She's looking fresh for her holiday next 44 00:01:52,720 --> 00:01:54,360 Speaker 1: week at less than a quarter of the price she 45 00:01:54,400 --> 00:01:56,520 Speaker 1: would have paid at most salons in her area. 46 00:01:56,800 --> 00:01:57,520 Speaker 4: How good is that? 47 00:01:57,760 --> 00:02:00,360 Speaker 1: But it finds me a lot of group on. Yeah, 48 00:02:00,360 --> 00:02:01,800 Speaker 1: not sponsor BA group On by the way, I mentioned 49 00:02:01,840 --> 00:02:02,520 Speaker 1: them way too much. 50 00:02:02,640 --> 00:02:05,400 Speaker 3: Yeah, I feel like they should like backtrack our sponsorship. 51 00:02:05,720 --> 00:02:07,880 Speaker 3: But I think that was really impressive, because she said 52 00:02:07,920 --> 00:02:10,640 Speaker 3: she got a half head of foils and from my experience, 53 00:02:10,800 --> 00:02:14,440 Speaker 3: not personal experience, but talking to friends, blonde is really expensive. 54 00:02:14,639 --> 00:02:15,920 Speaker 1: Yes, a lot of upkeep. 55 00:02:16,040 --> 00:02:18,840 Speaker 3: So forty dollars is impressive, very very nice money go 56 00:02:18,960 --> 00:02:20,040 Speaker 3: you now, Victoria. 57 00:02:20,080 --> 00:02:22,600 Speaker 1: Today on the show, we're talking about hidden money. Why 58 00:02:22,600 --> 00:02:24,120 Speaker 1: does it feel like our friends and the people we 59 00:02:24,160 --> 00:02:26,840 Speaker 1: follow on Instagram have more money than we do and 60 00:02:27,000 --> 00:02:29,240 Speaker 1: in the chance we inherit some money in our teens 61 00:02:29,320 --> 00:02:32,040 Speaker 1: or twenties, how should we approach that? But before we 62 00:02:32,080 --> 00:02:34,040 Speaker 1: get there, as always, it's time to share a money 63 00:02:34,040 --> 00:02:36,359 Speaker 1: win or a money confession from the week. How did 64 00:02:36,400 --> 00:02:37,440 Speaker 1: you go this week? Victoria? 65 00:02:37,760 --> 00:02:41,079 Speaker 3: I went really well. Actually I had a pretty quiet week. 66 00:02:41,120 --> 00:02:43,560 Speaker 3: I spent the week last week at a conference, which 67 00:02:43,680 --> 00:02:46,520 Speaker 3: was fun, but that means not much spending from my 68 00:02:46,760 --> 00:02:50,320 Speaker 3: end because everything's so internal. But my money win this 69 00:02:50,400 --> 00:02:52,560 Speaker 3: week is actually that I went out for dinner with 70 00:02:52,600 --> 00:02:58,280 Speaker 3: a girlfriend and she paid Yay winnings friend, Definitely a win. 71 00:02:58,440 --> 00:03:00,640 Speaker 1: I think I've got one confession. 72 00:03:00,880 --> 00:03:02,400 Speaker 4: Oh no, come on, Annabelle. 73 00:03:02,440 --> 00:03:05,400 Speaker 1: So I went shopping and I always gravitate towards like 74 00:03:05,440 --> 00:03:07,440 Speaker 1: the discount racks, so I went to like the below 75 00:03:07,440 --> 00:03:09,560 Speaker 1: twenty dollars rack. And I picked up this shirt that 76 00:03:09,600 --> 00:03:11,920 Speaker 1: I really liked. I went and tried it on, loved it. 77 00:03:11,960 --> 00:03:13,720 Speaker 1: I'm very picky, like when I try a shirt on, 78 00:03:13,800 --> 00:03:15,639 Speaker 1: it needs to look like I need to be really 79 00:03:15,680 --> 00:03:17,800 Speaker 1: really confident in it. Otherwise I'm like no, and I 80 00:03:17,840 --> 00:03:19,480 Speaker 1: weigh like the price, and if it's a good price 81 00:03:19,639 --> 00:03:21,720 Speaker 1: and I look, I think I look good, I'm like, Okay, 82 00:03:21,720 --> 00:03:23,480 Speaker 1: I'll get it. So I felt all of those things. 83 00:03:23,480 --> 00:03:26,640 Speaker 1: I went to the cash register and it was actually 84 00:03:26,639 --> 00:03:27,119 Speaker 1: a full price. 85 00:03:27,120 --> 00:03:30,040 Speaker 4: At me, it was like, no, I hate when that happened, 86 00:03:30,040 --> 00:03:30,639 Speaker 4: and I didn't. 87 00:03:30,400 --> 00:03:31,720 Speaker 1: Want to seem like a stinge. So I was just 88 00:03:31,760 --> 00:03:34,000 Speaker 1: like yep, okay, and I bought it, and now. 89 00:03:34,320 --> 00:03:35,240 Speaker 4: Did you return it? 90 00:03:35,440 --> 00:03:38,200 Speaker 1: No? I was because I was like, I like the top, 91 00:03:38,280 --> 00:03:40,880 Speaker 1: and I need to treat myself sometimes. 92 00:03:41,200 --> 00:03:44,000 Speaker 4: Yeah, I think that that's a good treat. But also 93 00:03:44,160 --> 00:03:44,680 Speaker 4: if it's. 94 00:03:44,600 --> 00:03:47,560 Speaker 3: Not in line with what you wanted to buy, perhaps 95 00:03:47,600 --> 00:03:48,640 Speaker 3: it's worth a reconsider. 96 00:03:48,720 --> 00:03:50,320 Speaker 1: I know, and I totally should have been like why 97 00:03:50,400 --> 00:03:51,920 Speaker 1: was this in the discount rack? But I just bought 98 00:03:51,920 --> 00:03:54,080 Speaker 1: it anyway because I didn't want to seem like cheapskate. 99 00:03:54,200 --> 00:03:56,320 Speaker 4: I think we've all been there, Yeah, totally. 100 00:03:56,320 --> 00:03:58,160 Speaker 1: Now, no matter what your bank account looks like. We 101 00:03:58,200 --> 00:04:01,400 Speaker 1: bet you've had a relationship with money before. How do 102 00:04:01,440 --> 00:04:04,560 Speaker 1: all your friends afford their luxurious lifestyles, and how on 103 00:04:04,600 --> 00:04:07,560 Speaker 1: earth are they affording to buy houses so young? Today? 104 00:04:07,640 --> 00:04:10,320 Speaker 1: We're covering it all, Victoria. The first place I want 105 00:04:10,360 --> 00:04:13,000 Speaker 1: to start is here. Do you think there's an inverse 106 00:04:13,040 --> 00:04:15,520 Speaker 1: correlation between looking like you have money on Instagram and 107 00:04:15,560 --> 00:04:16,640 Speaker 1: actually having money? 108 00:04:16,800 --> 00:04:17,400 Speaker 4: Absolutely? 109 00:04:17,480 --> 00:04:20,360 Speaker 3: I think it's a really interesting concept actually, because there's 110 00:04:20,360 --> 00:04:22,719 Speaker 3: a number of articles flying around the Internet at the 111 00:04:22,720 --> 00:04:26,920 Speaker 3: moment about Instagram influencers going into debt to keep up 112 00:04:26,960 --> 00:04:29,960 Speaker 3: with the lifestyle they think their followers expect of them. 113 00:04:30,080 --> 00:04:31,920 Speaker 1: And it's actually more popular these days to be more 114 00:04:31,920 --> 00:04:34,919 Speaker 1: transparent on Instagram, like you were saying last week with 115 00:04:35,040 --> 00:04:37,800 Speaker 1: travel how Olivi Molly Rodgers was talking about, like how 116 00:04:37,839 --> 00:04:39,919 Speaker 1: much work it took for her to save for that 117 00:04:39,960 --> 00:04:40,760 Speaker 1: trip she went on. 118 00:04:41,000 --> 00:04:43,560 Speaker 3: I would agree, but also disagree with that because they 119 00:04:43,560 --> 00:04:46,760 Speaker 3: think while some influences and some people in that sphere 120 00:04:46,800 --> 00:04:50,040 Speaker 3: are being transparent and we're really celebrating that, I think 121 00:04:50,080 --> 00:04:53,120 Speaker 3: there is a massive lack of transparency in that area 122 00:04:53,200 --> 00:04:55,480 Speaker 3: as well, and I can see it from the way 123 00:04:55,520 --> 00:04:59,200 Speaker 3: that people are just presenting themselves. Instagram is such a 124 00:04:59,200 --> 00:05:01,800 Speaker 3: platform where it's about putting your best life forward. You're 125 00:05:01,800 --> 00:05:04,240 Speaker 3: not going to post the bad times, and that's actually 126 00:05:04,240 --> 00:05:06,440 Speaker 3: not what the platform is for. But it means that 127 00:05:06,520 --> 00:05:09,280 Speaker 3: we only ever see the best part of other people's lives. 128 00:05:09,480 --> 00:05:12,040 Speaker 3: And I don't think everybody has caught up to being 129 00:05:12,080 --> 00:05:14,400 Speaker 3: transparent about their financial situations. 130 00:05:14,640 --> 00:05:17,720 Speaker 1: Yeah, definitely. Do you think we confuse money with materialism then, 131 00:05:17,800 --> 00:05:20,560 Speaker 1: because in most cases, the people who are financially secure 132 00:05:20,839 --> 00:05:23,320 Speaker 1: are probably not spending all their money on fancy bags 133 00:05:23,320 --> 00:05:24,200 Speaker 1: and shoes, right. 134 00:05:24,200 --> 00:05:24,960 Speaker 4: I think we do. 135 00:05:25,440 --> 00:05:27,160 Speaker 3: I think it goes back to that quote I said 136 00:05:27,200 --> 00:05:28,560 Speaker 3: a couple of podcasts ago. 137 00:05:28,720 --> 00:05:32,159 Speaker 4: If you live fake rich now, you'll live real poor later. 138 00:05:33,480 --> 00:05:35,400 Speaker 3: Now, I know, And I've seen it pop up aheave 139 00:05:35,440 --> 00:05:36,520 Speaker 3: of times on Instagram. 140 00:05:36,560 --> 00:05:38,280 Speaker 4: We keep getting tagged in it. I love it. 141 00:05:38,600 --> 00:05:42,159 Speaker 3: But I think that we keep seeing people purchase things 142 00:05:42,240 --> 00:05:45,760 Speaker 3: so that they look wealthy, and real wealth doesn't actually 143 00:05:45,800 --> 00:05:46,400 Speaker 3: look like that. 144 00:05:46,680 --> 00:05:46,880 Speaker 1: Yeah. 145 00:05:46,920 --> 00:05:49,159 Speaker 3: So I think, you know, even if you have designer bags, 146 00:05:49,160 --> 00:05:51,560 Speaker 3: designer shoes, and you look all decked out in the 147 00:05:51,640 --> 00:05:54,599 Speaker 3: latest gear, that actually could mean that you are in 148 00:05:54,640 --> 00:05:59,080 Speaker 3: a massive amount of debt and not potentially actually investing 149 00:05:59,200 --> 00:06:01,200 Speaker 3: and saving. Like you and I are both in a 150 00:06:01,200 --> 00:06:03,240 Speaker 3: situation where you know, we go into a shop and 151 00:06:03,279 --> 00:06:06,080 Speaker 3: we gravitate towards the discount rack because we know that 152 00:06:06,120 --> 00:06:08,560 Speaker 3: we'd prefer our money sitting in a bank account, whereas 153 00:06:08,600 --> 00:06:11,200 Speaker 3: not everybody is like that. I have friends and I 154 00:06:11,240 --> 00:06:14,400 Speaker 3: have people that I know that will save up incredibly 155 00:06:14,400 --> 00:06:18,680 Speaker 3: aggressively to afford a designer item that is actually outside 156 00:06:18,680 --> 00:06:19,799 Speaker 3: their salary bracket. 157 00:06:19,920 --> 00:06:21,600 Speaker 4: But that comes back to their values. 158 00:06:21,839 --> 00:06:24,680 Speaker 1: Okay, So what does real wealth look like to you? Then? 159 00:06:24,680 --> 00:06:25,880 Speaker 1: If you had to paint a picture. 160 00:06:25,720 --> 00:06:28,599 Speaker 3: For us, So, real wealth is actually hidden. So you know, 161 00:06:28,680 --> 00:06:31,719 Speaker 3: this episode is on hidden money, but real wealth is hidden. 162 00:06:31,720 --> 00:06:32,359 Speaker 4: You don't see it. 163 00:06:32,400 --> 00:06:34,919 Speaker 3: You don't buy glittery things. You don't buy things that 164 00:06:34,960 --> 00:06:37,719 Speaker 3: all show Offye you could be still driving a camera 165 00:06:37,839 --> 00:06:40,440 Speaker 3: that you bought as your first car when you turn seventeen. 166 00:06:40,800 --> 00:06:43,880 Speaker 3: I think that real wealth is something that people don't flaunt. 167 00:06:44,080 --> 00:06:47,080 Speaker 3: And I think that's the difference to me between being 168 00:06:47,200 --> 00:06:50,320 Speaker 3: rich and being wealthy. She's on the money sets out 169 00:06:50,440 --> 00:06:53,880 Speaker 3: to hopefully help people create wealth, and that wealth is 170 00:06:53,920 --> 00:06:58,120 Speaker 3: actually financial stability. Rich is something different. Rich is being 171 00:06:58,200 --> 00:07:01,360 Speaker 3: really obvious about your wealth. Rich is putting it out 172 00:07:01,400 --> 00:07:04,120 Speaker 3: there that you have a whole heap of materialistic items 173 00:07:04,320 --> 00:07:07,200 Speaker 3: that reflect your financial income or the way that you 174 00:07:07,320 --> 00:07:10,000 Speaker 3: spend money. So I think that it's really important to 175 00:07:10,080 --> 00:07:12,920 Speaker 3: realize that there's a massive difference and these things aren't 176 00:07:12,960 --> 00:07:15,000 Speaker 3: as transparent as we would like them to be. 177 00:07:15,200 --> 00:07:17,520 Speaker 1: So rich is kind of like not long term, it's 178 00:07:17,560 --> 00:07:19,480 Speaker 1: in the now. It's a bit frivolous. 179 00:07:19,600 --> 00:07:22,000 Speaker 3: Yeah, it's that friend who's always spending heaps of money 180 00:07:22,000 --> 00:07:24,680 Speaker 3: on espresso martinis and always has a new dress every 181 00:07:24,720 --> 00:07:28,280 Speaker 3: single weekend, whereas wealthy and creating wealth is a friend 182 00:07:28,280 --> 00:07:30,720 Speaker 3: who is going out budgeting their money and wearing the 183 00:07:30,760 --> 00:07:33,480 Speaker 3: same dress often because one they love that dress, but 184 00:07:33,600 --> 00:07:36,000 Speaker 3: two they know that their money is better spent or 185 00:07:36,080 --> 00:07:37,520 Speaker 3: saved in a different place. 186 00:07:38,160 --> 00:07:41,000 Speaker 1: Money company Credit Karma has found nearly forty percent of 187 00:07:41,040 --> 00:07:43,520 Speaker 1: young adults said they've spent money they didn't have to 188 00:07:43,600 --> 00:07:46,200 Speaker 1: keep up with their friends' lifestyles. Are you surprised by that? 189 00:07:46,520 --> 00:07:49,320 Speaker 3: I wish I was surprised by that. Unfortunately I'm not. 190 00:07:49,480 --> 00:07:51,560 Speaker 3: I see it all the time. I see it in 191 00:07:51,600 --> 00:07:54,200 Speaker 3: our Facebook group, people saying that they've gotten into debt 192 00:07:54,320 --> 00:07:57,560 Speaker 3: buying materialistic things. You see it in the reflection of 193 00:07:57,680 --> 00:08:01,239 Speaker 3: how much Australians spend on credit it. Having a credit 194 00:08:01,280 --> 00:08:04,040 Speaker 3: card is spending money that you do not have, and 195 00:08:04,120 --> 00:08:06,520 Speaker 3: most people can't turn around and say, hey, Vic Terrrea 196 00:08:06,800 --> 00:08:09,000 Speaker 3: got a credit card and I bought things that were 197 00:08:09,000 --> 00:08:10,720 Speaker 3: really good for creating wealth. 198 00:08:10,840 --> 00:08:11,560 Speaker 4: I've never heard that. 199 00:08:11,600 --> 00:08:13,600 Speaker 3: I've also never heard someone tell me that they've gotten 200 00:08:13,680 --> 00:08:16,120 Speaker 3: rich of credit card points, so interesting. 201 00:08:16,320 --> 00:08:19,480 Speaker 1: Yeah, no, but I definitely think I experienced that a 202 00:08:19,480 --> 00:08:21,760 Speaker 1: bit in high school, going to a private school when 203 00:08:21,800 --> 00:08:23,520 Speaker 1: everyone else I think their parents were a bit wealthy 204 00:08:23,560 --> 00:08:25,640 Speaker 1: than mine, feeling like I needed to keep up with 205 00:08:25,640 --> 00:08:28,000 Speaker 1: the things that my friends were doing. It's really common 206 00:08:28,160 --> 00:08:29,080 Speaker 1: with kids especially. 207 00:08:29,160 --> 00:08:31,680 Speaker 3: Yeah, I felt exactly the same thing. So I went 208 00:08:31,720 --> 00:08:33,640 Speaker 3: to a school that had a number of people who 209 00:08:33,640 --> 00:08:35,880 Speaker 3: were far more affluent than the family I grew up in. 210 00:08:36,160 --> 00:08:37,800 Speaker 4: Whilst that's not a negative thing. 211 00:08:37,880 --> 00:08:40,240 Speaker 3: It does taint the way you view the world when 212 00:08:40,280 --> 00:08:43,839 Speaker 3: for your seventeenth birthday you're asking for something that's relatively 213 00:08:43,880 --> 00:08:46,040 Speaker 3: small and then you see your friends getting beam double 214 00:08:46,160 --> 00:08:48,840 Speaker 3: users gifts. Yeah, I think that paints the world in 215 00:08:48,880 --> 00:08:51,160 Speaker 3: a little bit of a different light, or it definitely 216 00:08:51,160 --> 00:08:51,640 Speaker 3: did for me. 217 00:08:52,200 --> 00:08:54,800 Speaker 1: It's tricky because maybe your friends really are just more 218 00:08:54,800 --> 00:08:56,920 Speaker 1: wealthy than you. Maybe they can afford experiences in a 219 00:08:56,960 --> 00:08:59,640 Speaker 1: lifestyle beyond your own. Have you ever felt a sense 220 00:08:59,679 --> 00:09:02,120 Speaker 1: of money tension in your own life and relationship? Well, 221 00:09:02,160 --> 00:09:03,439 Speaker 1: have you seen it with your clients? Maybe? 222 00:09:03,520 --> 00:09:06,160 Speaker 3: I think this is a really interesting question, and money 223 00:09:06,200 --> 00:09:09,040 Speaker 3: tension is something that I have not struggled with. But 224 00:09:09,200 --> 00:09:11,080 Speaker 3: I've been in a situation where I've had a personal 225 00:09:11,120 --> 00:09:14,400 Speaker 3: loan before. I wouldn't say that I was silly or 226 00:09:14,440 --> 00:09:16,720 Speaker 3: frivolous by getting it. The personal loan that I took 227 00:09:16,800 --> 00:09:19,800 Speaker 3: out was so I could study overseas at a point 228 00:09:19,800 --> 00:09:22,280 Speaker 3: in time where I definitely couldn't have afforded that option. 229 00:09:22,720 --> 00:09:25,400 Speaker 3: So as much as I don't agree with personal debt, 230 00:09:25,520 --> 00:09:27,679 Speaker 3: I have been in that situation. And that's why I'm 231 00:09:27,720 --> 00:09:30,880 Speaker 3: so passionate about advocating to not be in that personal debt, 232 00:09:31,000 --> 00:09:32,959 Speaker 3: because I know how long it took me to get 233 00:09:33,000 --> 00:09:35,960 Speaker 3: out of that position. But it was also a little 234 00:09:36,000 --> 00:09:38,480 Speaker 3: bit about trying to keep up with a lifestyle, Like 235 00:09:38,559 --> 00:09:40,600 Speaker 3: I had my friends going on that trip and I 236 00:09:40,640 --> 00:09:42,880 Speaker 3: didn't want to miss out, and it felt like something 237 00:09:42,960 --> 00:09:45,760 Speaker 3: that could potentially, you know, be a life changing event. 238 00:09:45,880 --> 00:09:49,040 Speaker 3: And whilst it was a really great experience. It was 239 00:09:49,080 --> 00:09:51,960 Speaker 3: something that I didn't regret when I came home, but 240 00:09:52,000 --> 00:09:54,280 Speaker 3: the debt set me back into a place where I 241 00:09:54,400 --> 00:09:56,360 Speaker 3: wasn't able to achieve the goals that I wanted to 242 00:09:56,440 --> 00:09:59,720 Speaker 3: achieve once I got back because my priority was paying 243 00:09:59,760 --> 00:10:00,600 Speaker 3: off that debt. 244 00:10:00,720 --> 00:10:02,240 Speaker 1: So you would have done it a little bit differently 245 00:10:02,280 --> 00:10:03,120 Speaker 1: now in hindsight. 246 00:10:03,200 --> 00:10:06,000 Speaker 3: Oh absolutely, If I had the financial education and literacy 247 00:10:06,040 --> 00:10:08,320 Speaker 3: that I had now, I would have been in such 248 00:10:08,320 --> 00:10:09,440 Speaker 3: a better position now. 249 00:10:09,600 --> 00:10:11,599 Speaker 4: Whilst I'm not saying I'm in a negative. 250 00:10:11,200 --> 00:10:13,880 Speaker 3: One at all, I just now look back on things, 251 00:10:14,280 --> 00:10:17,520 Speaker 3: probably with a different view, purely because I know I 252 00:10:17,559 --> 00:10:19,600 Speaker 3: should never have been in that position, and I wish 253 00:10:19,640 --> 00:10:21,520 Speaker 3: that someone had told me, Victoria, don't do that, Just 254 00:10:21,559 --> 00:10:22,040 Speaker 3: wait a year. 255 00:10:22,080 --> 00:10:23,840 Speaker 4: You can do it later, just save for it. 256 00:10:24,200 --> 00:10:26,240 Speaker 1: We also had in our Facebook group someone with a 257 00:10:26,240 --> 00:10:29,440 Speaker 1: similar situation. Listener Michelle wrote, I don't want to come 258 00:10:29,440 --> 00:10:32,280 Speaker 1: across as though I'm not happy with other people's money wins. However, 259 00:10:32,360 --> 00:10:35,000 Speaker 1: due to my current circumstances, I have no income. I 260 00:10:35,080 --> 00:10:37,240 Speaker 1: just feel really down reading about how great other people 261 00:10:37,240 --> 00:10:39,720 Speaker 1: are doing because I feel so far behind and so stuck. 262 00:10:40,000 --> 00:10:42,280 Speaker 1: I'm thinking of temporarily leaving the group. Oh no, hope, 263 00:10:42,320 --> 00:10:45,559 Speaker 1: she's still here. She is still here for the record, 264 00:10:46,200 --> 00:10:48,719 Speaker 1: But I love the supportive atmosphere, and it's inspiring to 265 00:10:48,760 --> 00:10:51,240 Speaker 1: read people's money stories of how they pull themselves or 266 00:10:51,280 --> 00:10:54,800 Speaker 1: are pulling themselves out of debt and financial difficulty. I 267 00:10:54,920 --> 00:10:57,920 Speaker 1: just don't really know a way forward, Victoria. Do you 268 00:10:57,920 --> 00:11:00,520 Speaker 1: think that's a common feeling? How can people move passed 269 00:11:00,520 --> 00:11:02,880 Speaker 1: that aspect of competitiveness that comes with money. 270 00:11:03,000 --> 00:11:05,280 Speaker 3: When I saw that pop up, it actually really upset me. 271 00:11:05,559 --> 00:11:07,800 Speaker 3: It was something that I pondered on before letting it 272 00:11:07,840 --> 00:11:10,120 Speaker 3: go through to the group because I felt like I'd 273 00:11:10,120 --> 00:11:13,440 Speaker 3: potentially let some people down by having people in the 274 00:11:13,440 --> 00:11:16,800 Speaker 3: group that felt like that. And then on further reflection, 275 00:11:16,880 --> 00:11:19,600 Speaker 3: I realized it was probably a really common feeling. Comparison 276 00:11:19,800 --> 00:11:21,760 Speaker 3: is the worst thing we can do to each other 277 00:11:21,880 --> 00:11:24,880 Speaker 3: and do to ourselves, and I think that to have 278 00:11:24,920 --> 00:11:28,280 Speaker 3: a group where Michelle has felt comfortable enough to post 279 00:11:28,440 --> 00:11:30,960 Speaker 3: and share that with us is such a powerful thing. 280 00:11:31,040 --> 00:11:33,959 Speaker 3: So one, I'm super proud of our community, super proud 281 00:11:34,000 --> 00:11:36,040 Speaker 3: of all of the comments that were on that. They 282 00:11:36,040 --> 00:11:39,400 Speaker 3: were so supportive and everyone was so welcoming. But our 283 00:11:39,480 --> 00:11:43,319 Speaker 3: brains are programmed in a pattern that actually compares us 284 00:11:43,679 --> 00:11:46,520 Speaker 3: all the time, and it's a super hard cycle to break, 285 00:11:46,760 --> 00:11:48,920 Speaker 3: especially if you're constantly feeling like the people that are 286 00:11:48,960 --> 00:11:52,760 Speaker 3: surrounding you are always better off, It often can feel 287 00:11:52,760 --> 00:11:55,280 Speaker 3: like it's a little bit unfair. So I think it's 288 00:11:55,320 --> 00:11:57,679 Speaker 3: really important to go back to maybe our first episode 289 00:11:57,679 --> 00:12:00,120 Speaker 3: of the podcast and talk about our money stories and 290 00:12:00,160 --> 00:12:03,079 Speaker 3: realize we are all on different journeys. There is actually 291 00:12:03,080 --> 00:12:05,840 Speaker 3: no right and no wrong way to go through these things. 292 00:12:06,120 --> 00:12:09,400 Speaker 3: It's something that is incredibly unconstructive. So if we are 293 00:12:09,440 --> 00:12:12,560 Speaker 3: holding ourselves back by comparing our journey to the journey 294 00:12:12,559 --> 00:12:15,320 Speaker 3: of others, we aren't able to move forward on our own. 295 00:12:15,679 --> 00:12:18,239 Speaker 3: So I think it's something that we actually need to acknowledge, 296 00:12:18,280 --> 00:12:20,480 Speaker 3: pick up, and put to the side so that we 297 00:12:20,559 --> 00:12:23,720 Speaker 3: can move forward positively and actually create progress in our 298 00:12:23,760 --> 00:12:25,640 Speaker 3: own situation, whatever that looks like. 299 00:12:25,720 --> 00:12:28,240 Speaker 1: And I think having conversations like this and by Michelle 300 00:12:28,280 --> 00:12:31,000 Speaker 1: posting in the Facebook group is super productive. If we 301 00:12:31,040 --> 00:12:33,760 Speaker 1: talk about it, people will feel less competitive and will 302 00:12:33,760 --> 00:12:36,480 Speaker 1: feel more like we can share our own money stories. 303 00:12:36,600 --> 00:12:39,679 Speaker 3: Absolutely, and the journey of someone else's shouldn't impact your 304 00:12:39,760 --> 00:12:41,880 Speaker 3: journey at all. As much as we like to look 305 00:12:41,880 --> 00:12:44,000 Speaker 3: at other people's journeys. I think it's really important to 306 00:12:44,040 --> 00:12:46,680 Speaker 3: also look at it and go, all right, that's their journey. 307 00:12:46,760 --> 00:12:49,280 Speaker 4: I don't actually see all the negatives in their lives. 308 00:12:49,640 --> 00:12:51,600 Speaker 4: Like I know that that happens in. 309 00:12:51,520 --> 00:12:53,719 Speaker 3: The Facebook group a lot where people are posting their 310 00:12:53,720 --> 00:12:56,839 Speaker 3: money wins. People aren't posting their money wins and their 311 00:12:56,880 --> 00:12:59,520 Speaker 3: money confessions or the journey that they've been on. We 312 00:12:59,559 --> 00:13:02,680 Speaker 3: get to see such a small window of their experience, 313 00:13:02,960 --> 00:13:05,640 Speaker 3: and for that I'm incredibly grateful. But I also think 314 00:13:05,679 --> 00:13:08,440 Speaker 3: we need to reflect on that and remember that everybody 315 00:13:08,480 --> 00:13:11,160 Speaker 3: has been through so much that we are unaware of, 316 00:13:11,320 --> 00:13:14,120 Speaker 3: and it's not our place to judge them based on 317 00:13:14,120 --> 00:13:15,800 Speaker 3: one comment or one post. 318 00:13:16,160 --> 00:13:18,480 Speaker 1: Definitely, so do you think we could all be a 319 00:13:18,520 --> 00:13:21,280 Speaker 1: little more transparent with each other about our privilege? For example, 320 00:13:21,360 --> 00:13:23,440 Speaker 1: if your rent of a really nice apartment is being 321 00:13:23,480 --> 00:13:26,000 Speaker 1: paid for you by your parents, do you owe your 322 00:13:26,000 --> 00:13:26,840 Speaker 1: friends to tell them. 323 00:13:26,760 --> 00:13:30,520 Speaker 3: That you don't owe anybody anything? And I believe that 324 00:13:30,600 --> 00:13:34,000 Speaker 3: quite passionately. If that is something you're uncomfortable sharing, I 325 00:13:34,040 --> 00:13:36,320 Speaker 3: don't think you should have to. I think we actually 326 00:13:36,360 --> 00:13:38,800 Speaker 3: need to be a little bit kinder on ourselves and 327 00:13:38,840 --> 00:13:41,640 Speaker 3: realize that sometimes we don't know every part of someone 328 00:13:41,720 --> 00:13:44,920 Speaker 3: else's story. But if you're in a situation where sharing 329 00:13:44,960 --> 00:13:47,760 Speaker 3: that is going to be productive for the community around you, 330 00:13:47,920 --> 00:13:50,960 Speaker 3: or your friends or your family, and you're comfortable enough 331 00:13:50,960 --> 00:13:52,160 Speaker 3: sharing that, why not. 332 00:13:52,679 --> 00:13:55,800 Speaker 1: So while I totally think you're right, there's a part 333 00:13:55,840 --> 00:13:58,360 Speaker 1: of me that kind of still wants to know, as 334 00:13:58,360 --> 00:14:00,240 Speaker 1: like a self awareness thing. I want to know where 335 00:14:00,240 --> 00:14:03,079 Speaker 1: everyone started and how everyone's traveling, how they're getting there. 336 00:14:03,200 --> 00:14:05,439 Speaker 1: Even though I know I'm doing fun and I'm paying 337 00:14:05,440 --> 00:14:07,720 Speaker 1: my rent and paying my bills and whatever, it would 338 00:14:07,760 --> 00:14:08,320 Speaker 1: be nice to know. 339 00:14:09,040 --> 00:14:11,600 Speaker 3: I agree, and I think it's something that we all 340 00:14:11,720 --> 00:14:14,679 Speaker 3: go through right, Like Yeah, even as a financial advisor, 341 00:14:14,920 --> 00:14:17,480 Speaker 3: sometimes I see women posting in the group and I go, oh, 342 00:14:17,520 --> 00:14:19,960 Speaker 3: I wonder how they did that, Especially when people are 343 00:14:20,000 --> 00:14:23,120 Speaker 3: saying they saved really large lumps of money in short 344 00:14:23,160 --> 00:14:24,040 Speaker 3: periods of time. 345 00:14:24,360 --> 00:14:25,600 Speaker 4: I go, I couldn't do that. 346 00:14:25,760 --> 00:14:26,640 Speaker 1: How have you done that? 347 00:14:26,680 --> 00:14:26,760 Speaker 6: Like? 348 00:14:26,760 --> 00:14:29,000 Speaker 4: What have you compromised? What have you sacrificed? 349 00:14:29,360 --> 00:14:32,600 Speaker 3: So I get that nobody owes us anything, But at 350 00:14:32,640 --> 00:14:35,640 Speaker 3: the same time, I think the conversation around money should 351 00:14:35,680 --> 00:14:38,120 Speaker 3: open up and we should feel comfortable. But I think 352 00:14:38,160 --> 00:14:41,960 Speaker 3: there's a barrier currently because if people admit that they've 353 00:14:42,000 --> 00:14:45,240 Speaker 3: had help, they might feel judged, and I think that 354 00:14:45,240 --> 00:14:47,800 Speaker 3: that's then on us, and that's then on the people 355 00:14:47,840 --> 00:14:50,760 Speaker 3: who are asking those questions, Like if we knew that 356 00:14:50,840 --> 00:14:53,960 Speaker 3: someone had got a home deposit from their family, or 357 00:14:54,000 --> 00:14:56,520 Speaker 3: their mom pays their rent, or you know, they're getting 358 00:14:56,520 --> 00:14:59,360 Speaker 3: financial help in somewhere else, what's our answer to that 359 00:15:00,200 --> 00:15:03,000 Speaker 3: responding with or we responding with, oh, that's great, I'm 360 00:15:03,000 --> 00:15:05,360 Speaker 3: on my own journey, or are you responding with a 361 00:15:05,360 --> 00:15:06,600 Speaker 3: little bit more envy. 362 00:15:06,400 --> 00:15:07,320 Speaker 4: Than you had before? 363 00:15:07,600 --> 00:15:10,040 Speaker 3: So I think it's about checking ourselves as well and 364 00:15:10,120 --> 00:15:14,320 Speaker 3: realizing that, yes, people have privilege, but how do we 365 00:15:14,400 --> 00:15:15,080 Speaker 3: get through that. 366 00:15:15,160 --> 00:15:18,200 Speaker 4: On our own and how do we constructively. 367 00:15:17,480 --> 00:15:20,560 Speaker 3: Take that on board while not impacting our own journey 368 00:15:20,600 --> 00:15:21,480 Speaker 3: or our own egos. 369 00:15:21,600 --> 00:15:24,640 Speaker 1: Yeah, you're definitely right now. According to The Guardian, if 370 00:15:24,720 --> 00:15:27,440 Speaker 1: Australian parents were a bank, they would be the ninth 371 00:15:27,520 --> 00:15:30,200 Speaker 1: largest home loan lender in the country, bigger than the 372 00:15:30,200 --> 00:15:32,680 Speaker 1: Bank of Queensland and knocking on the door of Macquarie. 373 00:15:32,880 --> 00:15:34,720 Speaker 1: The truth is, the bank of Mom and Dad are 374 00:15:34,720 --> 00:15:37,480 Speaker 1: funding lots of our lifestyles. Do you think enough people 375 00:15:37,480 --> 00:15:40,840 Speaker 1: are talking about that? No, they are not the bank 376 00:15:40,840 --> 00:15:42,760 Speaker 1: of mom and dad. The bank of mom and dad 377 00:15:42,800 --> 00:15:44,480 Speaker 1: is something I talk about all the time. 378 00:15:45,000 --> 00:15:47,480 Speaker 3: As you guys know, I also have as a part 379 00:15:47,520 --> 00:15:51,200 Speaker 3: of my business and mortgage broking sector, so we talk 380 00:15:51,240 --> 00:15:53,600 Speaker 3: about home loans all the time, how to get them, 381 00:15:53,960 --> 00:15:56,200 Speaker 3: where to go, how to get them, and what your 382 00:15:56,280 --> 00:15:59,240 Speaker 3: journey looks like in that space. So I often see 383 00:15:59,280 --> 00:16:01,920 Speaker 3: people coming along with parents who are saying, yeah, we'll 384 00:16:01,920 --> 00:16:04,280 Speaker 3: guarantee your loan, or here we're going to give you 385 00:16:04,320 --> 00:16:06,520 Speaker 3: a lump sum so that you can use that as 386 00:16:06,560 --> 00:16:09,440 Speaker 3: your deposit, and a lot of these people don't actually 387 00:16:09,480 --> 00:16:11,720 Speaker 3: want to share that journey with their friends. I think 388 00:16:11,720 --> 00:16:15,120 Speaker 3: the same is for weddings, for lifestyle, for things that 389 00:16:15,240 --> 00:16:18,920 Speaker 3: are really big financial expenses in life. I think often 390 00:16:19,000 --> 00:16:22,320 Speaker 3: parents are chipping in. It does not mean in any way, 391 00:16:22,560 --> 00:16:25,400 Speaker 3: shape or form that parents should be chipping in. I 392 00:16:25,400 --> 00:16:28,080 Speaker 3: think it's incredibly lucky if you're in a position where 393 00:16:28,120 --> 00:16:30,760 Speaker 3: that's true for you. But I think that we should 394 00:16:30,760 --> 00:16:34,080 Speaker 3: be also acknowledging, Yeah, it's happening, but what does that 395 00:16:34,240 --> 00:16:34,760 Speaker 3: mean for me? 396 00:16:35,040 --> 00:16:36,600 Speaker 1: And you don't have to feel ashamed about it. If 397 00:16:36,600 --> 00:16:39,520 Speaker 1: you're given the opportunity to have help from your parents, 398 00:16:39,640 --> 00:16:40,600 Speaker 1: why not take it? 399 00:16:41,040 --> 00:16:44,680 Speaker 3: Absolutely and I'm incredibly lucky that my parents helped me 400 00:16:44,760 --> 00:16:48,280 Speaker 3: while I was going through university. There's absolutely no way 401 00:16:48,320 --> 00:16:51,440 Speaker 3: that I could have afforded the start of my journey 402 00:16:51,800 --> 00:16:54,680 Speaker 3: had they not, you know, helped me organize an apartment 403 00:16:54,720 --> 00:16:57,040 Speaker 3: in the city and set me up with some basics. 404 00:16:57,440 --> 00:16:59,040 Speaker 3: As much as I then went on to have three 405 00:16:59,080 --> 00:17:01,400 Speaker 3: jobs and work for time hour as well at Uni, 406 00:17:01,760 --> 00:17:04,000 Speaker 3: I also did have that kick start, and I would 407 00:17:04,040 --> 00:17:06,240 Speaker 3: not be where I was had they. 408 00:17:06,119 --> 00:17:06,800 Speaker 4: Not helped me. 409 00:17:07,080 --> 00:17:09,040 Speaker 1: Yeah, I'm just a part of your journey. 410 00:17:08,840 --> 00:17:11,960 Speaker 3: Exactly, and I'm quite transparent and thankful for that. But 411 00:17:12,040 --> 00:17:14,439 Speaker 3: I also think not a lot of people talk about that, 412 00:17:14,520 --> 00:17:18,199 Speaker 3: because I remember being quite open about that at university, like, oh, 413 00:17:18,280 --> 00:17:21,359 Speaker 3: mom and dad helped me do XYZ and I had 414 00:17:21,400 --> 00:17:23,399 Speaker 3: a couple of friends that I knew their parents were 415 00:17:23,440 --> 00:17:26,080 Speaker 3: paying their rent while they were it's your term, Yeah, 416 00:17:26,119 --> 00:17:28,479 Speaker 3: but they were. They were low key not joining in 417 00:17:28,520 --> 00:17:29,320 Speaker 3: on the conversation. 418 00:17:30,359 --> 00:17:32,880 Speaker 1: Let's talk about inheritance for a second. Do you think 419 00:17:32,920 --> 00:17:35,760 Speaker 1: we feel as a generation entitled to an inheritance. Do 420 00:17:35,800 --> 00:17:37,640 Speaker 1: you think we expect to fall into money that isn't 421 00:17:37,640 --> 00:17:40,160 Speaker 1: ours as we get older or is that an unfair assessment? 422 00:17:40,400 --> 00:17:43,720 Speaker 3: I think that's a pretty unfair statement on millennials because 423 00:17:43,760 --> 00:17:47,400 Speaker 3: I don't actually know anyone and haven't had any experience 424 00:17:47,680 --> 00:17:51,800 Speaker 3: where people are relying on an inheritance. But we also 425 00:17:51,960 --> 00:17:55,280 Speaker 3: need to be aware that millennials are actually going to 426 00:17:55,320 --> 00:17:59,200 Speaker 3: be inheriting thirty trillion dollars from. 427 00:17:59,240 --> 00:18:00,720 Speaker 4: Our previous ar generations. 428 00:18:01,600 --> 00:18:05,280 Speaker 3: That's that's massive, right, So thirty trillion dollars is going 429 00:18:05,280 --> 00:18:09,360 Speaker 3: to be inherited from the baby boomer generation into millennial 430 00:18:09,440 --> 00:18:10,119 Speaker 3: and Gen Z. 431 00:18:10,920 --> 00:18:12,720 Speaker 4: So it's not as though it's not there. 432 00:18:13,040 --> 00:18:15,320 Speaker 3: But I'm not sure if the statement that we are 433 00:18:15,520 --> 00:18:18,800 Speaker 3: entitled about it is true. 434 00:18:22,680 --> 00:18:25,000 Speaker 1: Hi, there, you've called the shoes on the Money Hotline. 435 00:18:25,200 --> 00:18:27,119 Speaker 1: Do you have a money problem you want help solving. 436 00:18:27,480 --> 00:18:29,000 Speaker 1: Do you have a money dilemma you just want to 437 00:18:29,040 --> 00:18:32,280 Speaker 1: chat about. Victoria is here to help. Each week, we'll 438 00:18:32,280 --> 00:18:34,359 Speaker 1: be playing your hotline questions to help make sense of 439 00:18:34,400 --> 00:18:36,640 Speaker 1: the money mess you may have found yourself in. Give 440 00:18:36,720 --> 00:18:38,760 Speaker 1: us a call on oh four three five two nine 441 00:18:38,880 --> 00:18:41,440 Speaker 1: three double eighty six and you might find yourself on 442 00:18:41,480 --> 00:18:48,119 Speaker 1: the show. 443 00:18:51,359 --> 00:18:53,960 Speaker 5: So I'm sitting on some inheritance in the form of 444 00:18:54,040 --> 00:18:57,119 Speaker 5: mainly property and some other things, and I know that 445 00:18:57,200 --> 00:18:59,960 Speaker 5: the privilege of Inheriting property can provide a lot of 446 00:19:00,119 --> 00:19:04,320 Speaker 5: financial freedom is responsibly dealt with. However, I've taging with 447 00:19:04,400 --> 00:19:06,920 Speaker 5: some advice on how best to handle it, as well 448 00:19:06,960 --> 00:19:10,040 Speaker 5: as a little information on what inheriting property can actually 449 00:19:10,520 --> 00:19:11,560 Speaker 5: help with financially. 450 00:19:12,040 --> 00:19:15,720 Speaker 1: Thanks interesting, Victoriously, what do you think she should do? 451 00:19:15,800 --> 00:19:17,160 Speaker 1: Should she do something with it right away? 452 00:19:17,600 --> 00:19:20,359 Speaker 3: I think it's a really interesting concept because when people 453 00:19:20,520 --> 00:19:23,399 Speaker 3: inherit money, it's often the largest asset they'll ever have 454 00:19:23,520 --> 00:19:25,760 Speaker 3: in their lives. So I think it's really important to 455 00:19:25,800 --> 00:19:28,200 Speaker 3: actually take your time and have a think about something 456 00:19:28,320 --> 00:19:31,480 Speaker 3: like this. If you've inherited property, fantastic property is an 457 00:19:31,520 --> 00:19:34,400 Speaker 3: asset that is going to hopefully help you create wealth 458 00:19:34,480 --> 00:19:35,560 Speaker 3: and generate an income. 459 00:19:35,920 --> 00:19:37,880 Speaker 4: But what you need to do right now is nothing 460 00:19:37,960 --> 00:19:38,200 Speaker 4: at all. 461 00:19:38,359 --> 00:19:40,840 Speaker 3: I think it's sit back, work out what you really want, 462 00:19:41,119 --> 00:19:43,200 Speaker 3: have a think about your goals for your life, put 463 00:19:43,240 --> 00:19:45,800 Speaker 3: the property to the side, and have a think about, 464 00:19:45,840 --> 00:19:47,400 Speaker 3: you know, what do you actually want out of life, 465 00:19:47,440 --> 00:19:48,120 Speaker 3: what do you want out. 466 00:19:48,000 --> 00:19:50,160 Speaker 4: Of your career, where are you going? How are you going? 467 00:19:50,680 --> 00:19:52,800 Speaker 3: And then have a think about how that property or 468 00:19:52,880 --> 00:19:55,680 Speaker 3: how that asset that you've inherited potentially plays into that. 469 00:19:56,080 --> 00:19:57,560 Speaker 3: I think one of the best things you can do 470 00:19:57,800 --> 00:20:00,880 Speaker 3: is have a chat to a financial advisor and see, 471 00:20:01,160 --> 00:20:03,440 Speaker 3: you know what you should be doing in that situation. 472 00:20:03,880 --> 00:20:05,920 Speaker 3: Maybe you want to keep owning that property and you 473 00:20:06,040 --> 00:20:07,720 Speaker 3: just want to rent it out and take the rental 474 00:20:07,760 --> 00:20:10,520 Speaker 3: income and invest that or spend that or do whatever 475 00:20:10,560 --> 00:20:13,400 Speaker 3: you would like. Or potentially you don't want to own 476 00:20:13,400 --> 00:20:15,920 Speaker 3: a property and that might be a responsibility that you 477 00:20:16,000 --> 00:20:18,320 Speaker 3: don't want right now or that you don't want on 478 00:20:18,400 --> 00:20:21,600 Speaker 3: your plate, so selling it could be on the cards 479 00:20:21,640 --> 00:20:24,280 Speaker 3: for you. I think the most important thing about getting 480 00:20:24,320 --> 00:20:27,160 Speaker 3: an inheritance or coming into any large sum of money 481 00:20:27,480 --> 00:20:29,679 Speaker 3: is not making a decision in the moment. I think 482 00:20:29,720 --> 00:20:32,040 Speaker 3: it's sitting back, having a think about how that impacts 483 00:20:32,119 --> 00:20:34,800 Speaker 3: you and getting some advice, but making sure that you're 484 00:20:34,840 --> 00:20:38,440 Speaker 3: getting advice from someone who cares about you and cares 485 00:20:38,440 --> 00:20:41,000 Speaker 3: about your situation. Because I know that there are a 486 00:20:41,040 --> 00:20:43,240 Speaker 3: lot of financial advisors that if you say, hey, I've 487 00:20:43,280 --> 00:20:44,919 Speaker 3: come into a house not sure if I really want 488 00:20:45,280 --> 00:20:47,840 Speaker 3: to sell it, that financial advisor might jump on the 489 00:20:47,920 --> 00:20:49,720 Speaker 3: idea that you want to sell it so that you 490 00:20:49,800 --> 00:20:52,640 Speaker 3: can invest with them and hurry you up through the process. 491 00:20:52,920 --> 00:20:55,480 Speaker 3: So I think if anyone at any point during this 492 00:20:55,640 --> 00:20:58,760 Speaker 3: journey of yours is speeding you up. Let them notice 493 00:20:58,840 --> 00:21:02,600 Speaker 3: low down, because there will always be another opportunity where 494 00:21:02,600 --> 00:21:05,040 Speaker 3: the one's being put on your plate today that you 495 00:21:05,080 --> 00:21:08,439 Speaker 3: know you can't miss. That's not actually the case. There 496 00:21:08,440 --> 00:21:11,200 Speaker 3: will always be another opportunity for you to invest in, 497 00:21:11,359 --> 00:21:14,439 Speaker 3: or save in, or you know, share in in the future. 498 00:21:14,720 --> 00:21:16,359 Speaker 3: We just need to make sure that that's the right 499 00:21:16,440 --> 00:21:16,879 Speaker 3: one for you. 500 00:21:17,280 --> 00:21:19,159 Speaker 1: So do you think when people inherit things then they 501 00:21:19,200 --> 00:21:21,520 Speaker 1: feel like a rush to do something with it right away? 502 00:21:22,000 --> 00:21:23,960 Speaker 3: Yes, I think that that's the case. There are a 503 00:21:24,000 --> 00:21:26,639 Speaker 3: heap of articles you guys can look up on what 504 00:21:26,840 --> 00:21:29,600 Speaker 3: people do with money when they inherit it and when 505 00:21:29,640 --> 00:21:32,399 Speaker 3: they win it. So there are whole heap of stats 506 00:21:32,440 --> 00:21:36,480 Speaker 3: that say people who win money are usually broke or 507 00:21:36,560 --> 00:21:40,680 Speaker 3: bankrupt five years into their journey because they haven't managed 508 00:21:40,680 --> 00:21:44,800 Speaker 3: it effectively. And the same thing often happens with inheritance. 509 00:21:45,080 --> 00:21:48,040 Speaker 3: People are very likely to go and blow it on 510 00:21:48,160 --> 00:21:50,680 Speaker 3: things that they think that they deserve. So if you 511 00:21:51,200 --> 00:21:53,080 Speaker 3: inherit a large sum of money, and I know we're 512 00:21:53,119 --> 00:21:55,520 Speaker 3: talking about property here, but it's often easier to talk 513 00:21:55,560 --> 00:21:58,919 Speaker 3: about cash because it's easier to blow people will inherit 514 00:21:58,960 --> 00:22:00,680 Speaker 3: the money and go all right, well, that's awesome. I 515 00:22:00,800 --> 00:22:03,600 Speaker 3: need a new car, my daughter needs a new car. 516 00:22:03,880 --> 00:22:05,280 Speaker 3: Or I want to buy a house. 517 00:22:05,119 --> 00:22:06,640 Speaker 4: And I'm going to use that for a deposit. 518 00:22:07,160 --> 00:22:10,080 Speaker 3: What people don't think is how much debt am I 519 00:22:10,160 --> 00:22:12,840 Speaker 3: taking on when I am getting this house. 520 00:22:12,960 --> 00:22:13,920 Speaker 4: So as much as you've got. 521 00:22:13,880 --> 00:22:15,880 Speaker 3: The deposit, can you actually afford the rest of the loan? 522 00:22:16,000 --> 00:22:18,720 Speaker 3: Are you actually ready to commit to a thirty year 523 00:22:18,840 --> 00:22:22,040 Speaker 3: repayment scheme? Is that something that you're well placed for? 524 00:22:22,200 --> 00:22:23,440 Speaker 3: Are you even ready for it? 525 00:22:23,760 --> 00:22:23,800 Speaker 1: So? 526 00:22:23,960 --> 00:22:26,000 Speaker 3: I think that people do definitely run into it. They 527 00:22:26,040 --> 00:22:28,879 Speaker 3: go on holidays, they buy cars, they buy shoes. I 528 00:22:29,000 --> 00:22:30,960 Speaker 3: see it all the time. I think we need to 529 00:22:31,040 --> 00:22:33,119 Speaker 3: just slow down and look at it with a little 530 00:22:33,160 --> 00:22:36,440 Speaker 3: bit more logic than hey, I've come into this large 531 00:22:36,520 --> 00:22:37,160 Speaker 3: sum of money. 532 00:22:37,240 --> 00:22:37,920 Speaker 4: That's wonderful. 533 00:22:43,040 --> 00:22:46,080 Speaker 1: And now for my favorite segment, our money diaries, let's 534 00:22:46,119 --> 00:22:54,600 Speaker 1: do this. Today's money diary is from twenty two and Proud, 535 00:22:54,920 --> 00:22:57,320 Speaker 1: a woman whose money story might make you feel more 536 00:22:57,400 --> 00:22:58,760 Speaker 1: than just a little envious. 537 00:22:59,400 --> 00:23:01,200 Speaker 6: Well, at the age of twenty one, my partner and 538 00:23:01,240 --> 00:23:03,840 Speaker 6: I we bought our first house together and it was 539 00:23:04,240 --> 00:23:09,560 Speaker 6: many years of saving and sacrificing and just working really 540 00:23:09,680 --> 00:23:12,280 Speaker 6: hard in order to do that and save up that deposit, 541 00:23:12,440 --> 00:23:15,160 Speaker 6: and it's something that people don't think is very achievable 542 00:23:15,320 --> 00:23:18,080 Speaker 6: for young people now, so we kind of feel like 543 00:23:19,040 --> 00:23:21,200 Speaker 6: we've kind of proven that wrong, that you can actually 544 00:23:21,240 --> 00:23:23,320 Speaker 6: buy a house at a young age, and that not 545 00:23:23,520 --> 00:23:25,840 Speaker 6: all young people are very frivolous with their money and 546 00:23:25,960 --> 00:23:29,320 Speaker 6: just throwing it away and buying smashed avo. My parents 547 00:23:29,400 --> 00:23:31,879 Speaker 6: are on a decent wage and they're very comfortable, but 548 00:23:32,160 --> 00:23:33,840 Speaker 6: they taught me that just because you have money, you 549 00:23:33,880 --> 00:23:37,760 Speaker 6: shouldn't just spend it however you like. You should put 550 00:23:37,800 --> 00:23:41,200 Speaker 6: it towards things you really want, and that money is freedom. 551 00:23:41,440 --> 00:23:44,320 Speaker 6: So when you have money, you're able to do things 552 00:23:44,400 --> 00:23:47,360 Speaker 6: you want, but that doesn't necessarily mean just going out 553 00:23:47,359 --> 00:23:50,200 Speaker 6: and spending it on things that you'll take for granted 554 00:23:50,240 --> 00:23:52,640 Speaker 6: and won't even appreciate. I think a lot of people 555 00:23:52,680 --> 00:23:55,480 Speaker 6: thought we were crazy buying a house so young and 556 00:23:55,600 --> 00:23:59,240 Speaker 6: choosing to save all our money rather than spend it 557 00:23:59,320 --> 00:24:01,639 Speaker 6: on like a holiday, all that kind of thing. But 558 00:24:01,720 --> 00:24:03,760 Speaker 6: for us it felt like the right decision because we 559 00:24:03,880 --> 00:24:05,040 Speaker 6: wanted to set ourselves up. 560 00:24:05,160 --> 00:24:07,520 Speaker 1: Okay, so how much does twenty two and Proud earn 561 00:24:07,800 --> 00:24:09,359 Speaker 1: and how much has she got saved? 562 00:24:09,680 --> 00:24:13,040 Speaker 6: I earn around forty five thousand. Well, my savings account 563 00:24:13,320 --> 00:24:15,680 Speaker 6: is a joint savings account with my partner and we 564 00:24:15,880 --> 00:24:18,400 Speaker 6: have about fifteen grand in there now. To be honest, 565 00:24:18,480 --> 00:24:22,040 Speaker 6: we had our settlement was four months, so we had 566 00:24:22,119 --> 00:24:24,280 Speaker 6: all this time to save up, and we've just we 567 00:24:24,320 --> 00:24:26,639 Speaker 6: could be putting it towards the mortgage, but we just kind. 568 00:24:26,520 --> 00:24:27,480 Speaker 4: Of like it to have it there. 569 00:24:28,080 --> 00:24:30,200 Speaker 1: So yeah, so we know what twenty two and Proud 570 00:24:30,240 --> 00:24:32,600 Speaker 1: gets paid, but what exactly happens to that money after 571 00:24:32,640 --> 00:24:34,040 Speaker 1: it's deposited into her account? 572 00:24:34,440 --> 00:24:37,320 Speaker 6: Well, when I get paid every week, I put majority 573 00:24:37,680 --> 00:24:40,960 Speaker 6: towards the joint savings account. So I get about seven 574 00:24:41,040 --> 00:24:44,080 Speaker 6: hundred and forty dollars a week. I save about two 575 00:24:44,200 --> 00:24:46,960 Speaker 6: hundred dollars of that in my own personal account and 576 00:24:47,040 --> 00:24:51,080 Speaker 6: I use that things like petrol, buying things for just myself, 577 00:24:51,400 --> 00:24:54,400 Speaker 6: and the rest gets transferred to a joint account, which 578 00:24:54,520 --> 00:24:56,520 Speaker 6: my partner does pretty much the exact same, keeps a 579 00:24:56,560 --> 00:24:58,960 Speaker 6: little bit for himself and then the rest goes into 580 00:24:59,040 --> 00:24:59,760 Speaker 6: our joint account. 581 00:25:00,040 --> 00:25:01,840 Speaker 1: How does twenty two and Proud go with investing? 582 00:25:01,920 --> 00:25:05,080 Speaker 6: Though, No, I don't invest to be honest. After listening 583 00:25:05,119 --> 00:25:07,240 Speaker 6: to this podcast, I really wanted to get into it, 584 00:25:07,960 --> 00:25:10,480 Speaker 6: but I've kind of weighed up whether I would rather 585 00:25:11,000 --> 00:25:13,880 Speaker 6: put that extra money into investments or put that extra 586 00:25:13,960 --> 00:25:16,320 Speaker 6: money towards mortgage repayments. 587 00:25:16,440 --> 00:25:17,320 Speaker 4: And I think at this. 588 00:25:17,440 --> 00:25:20,040 Speaker 6: Stage I would rather put the extra money towards the 589 00:25:20,080 --> 00:25:21,840 Speaker 6: mortgage so I could pay that off quicker. 590 00:25:22,200 --> 00:25:23,280 Speaker 1: And what about her debts? 591 00:25:23,840 --> 00:25:26,560 Speaker 6: So although I did a university degree, I don't have 592 00:25:26,640 --> 00:25:30,240 Speaker 6: a hex debt because I paid it upfront as the semester, 593 00:25:31,040 --> 00:25:33,920 Speaker 6: like every semester, I'd pay the UNI fees. And my 594 00:25:34,040 --> 00:25:35,840 Speaker 6: mortgage is four hundred and twenty thousand. 595 00:25:36,200 --> 00:25:37,840 Speaker 1: What are the good money habits that twenty two and 596 00:25:38,240 --> 00:25:39,880 Speaker 1: recommends other women take on board? 597 00:25:40,480 --> 00:25:43,080 Speaker 6: My best money habit would be being able to refrain 598 00:25:43,200 --> 00:25:47,159 Speaker 6: from making purchases on a whim, really asking myself do 599 00:25:47,280 --> 00:25:50,040 Speaker 6: I actually want this? And do I actually need this, 600 00:25:51,040 --> 00:25:52,760 Speaker 6: and just choosing to spend my money on things that 601 00:25:53,080 --> 00:25:56,800 Speaker 6: will help me out and will make me happy, not 602 00:25:56,960 --> 00:25:58,639 Speaker 6: just things yeah at random? 603 00:25:58,840 --> 00:26:01,560 Speaker 1: What about her worst money my worst money habit? 604 00:26:01,680 --> 00:26:03,760 Speaker 6: To be honest, since moving out, I feel like I'm 605 00:26:03,760 --> 00:26:06,680 Speaker 6: probably spending a little bit more because of things around 606 00:26:06,720 --> 00:26:09,880 Speaker 6: the house. I find myself at Bunnings every single weekend, 607 00:26:10,520 --> 00:26:12,680 Speaker 6: wanting to get more plants or wanting to do things 608 00:26:12,720 --> 00:26:14,920 Speaker 6: around the house. So that's probably my worst money habit 609 00:26:14,960 --> 00:26:17,720 Speaker 6: at the moment, but that's probably as far as it goes. 610 00:26:17,800 --> 00:26:21,560 Speaker 6: I don't really buy out much. I pack my lunches 611 00:26:21,640 --> 00:26:24,280 Speaker 6: for work, and I bought a coffee machine, which means 612 00:26:24,320 --> 00:26:27,119 Speaker 6: I save money on coffees don't have to buy anything 613 00:26:27,200 --> 00:26:29,800 Speaker 6: like that, so I think that definitely helps as well. 614 00:26:30,000 --> 00:26:31,720 Speaker 6: If I was to spend my money on things, I 615 00:26:31,760 --> 00:26:34,840 Speaker 6: would probably rather spend it going to brunch with my 616 00:26:34,960 --> 00:26:38,399 Speaker 6: partner or doing something nice on the weekend or a 617 00:26:38,480 --> 00:26:39,160 Speaker 6: weekend away. 618 00:26:39,840 --> 00:26:43,000 Speaker 1: So what's twenty two and proud actually saving for? What's 619 00:26:43,040 --> 00:26:44,000 Speaker 1: her big money goal? 620 00:26:44,280 --> 00:26:46,800 Speaker 6: My big savings goal is to go on a big 621 00:26:46,840 --> 00:26:49,720 Speaker 6: holiday next year, because we were saving so hard for 622 00:26:49,720 --> 00:26:51,600 Speaker 6: a deposit. In all the time that my partner and 623 00:26:51,640 --> 00:26:54,320 Speaker 6: I have been together, we haven't actually done any overseas 624 00:26:54,359 --> 00:26:58,320 Speaker 6: trips or like real long holidays. So next year we 625 00:26:58,400 --> 00:27:01,760 Speaker 6: plan to go to Canada and America next year, and yeah, 626 00:27:01,880 --> 00:27:04,160 Speaker 6: that should be quite expensive but fun. 627 00:27:04,640 --> 00:27:07,119 Speaker 1: So howard Today's money diarist rate her own relationship with 628 00:27:07,240 --> 00:27:09,200 Speaker 1: money if we forced her to give herself a grade. 629 00:27:09,520 --> 00:27:12,399 Speaker 6: I would probably give myself an age just because of 630 00:27:12,600 --> 00:27:16,159 Speaker 6: the position I'm in, and for my age especially, I 631 00:27:16,280 --> 00:27:18,480 Speaker 6: feel like not many people are at this age and 632 00:27:19,320 --> 00:27:21,840 Speaker 6: have their own house and are paying off a mortgage 633 00:27:21,920 --> 00:27:23,000 Speaker 6: and doing. 634 00:27:22,880 --> 00:27:26,840 Speaker 4: Quite well for themselves. There's always room for improvements, all. 635 00:27:26,800 --> 00:27:28,840 Speaker 1: Right, Victoria twenty two and proud. She's got a lot 636 00:27:28,840 --> 00:27:29,760 Speaker 1: to be proud about, doesn't she. 637 00:27:30,000 --> 00:27:31,160 Speaker 4: She absolutely does. 638 00:27:31,359 --> 00:27:34,919 Speaker 3: Imagine being that young and having saved nearly one hundred 639 00:27:34,960 --> 00:27:36,159 Speaker 3: thousand dollars from home. 640 00:27:36,040 --> 00:27:38,840 Speaker 1: To po my age makes feel very guilty for what 641 00:27:38,920 --> 00:27:42,440 Speaker 1: I'm doing. But honestly, Victoria, we have been crunching the 642 00:27:42,520 --> 00:27:44,640 Speaker 1: numbers these past few minutes because we were like, surely 643 00:27:44,720 --> 00:27:46,880 Speaker 1: that's impossible, and no, it's quite possible. 644 00:27:47,200 --> 00:27:49,000 Speaker 3: It is so I think that it's important to be 645 00:27:49,080 --> 00:27:51,920 Speaker 3: transparent when speaking about money. So we crunched the numbers, 646 00:27:52,320 --> 00:27:55,480 Speaker 3: and by saving five hundred dollars a week, that's saving 647 00:27:55,480 --> 00:27:58,720 Speaker 3: about twenty six thousand dollars a year. Times that by four, 648 00:27:58,800 --> 00:28:01,560 Speaker 3: which is the timeframe she saved for the house in 649 00:28:02,000 --> 00:28:04,240 Speaker 3: and she could have saved or should have saved one 650 00:28:04,320 --> 00:28:06,440 Speaker 3: hundred and four thousand dollars in that period of time, 651 00:28:06,520 --> 00:28:09,200 Speaker 3: which is so incredible. So for her to be able 652 00:28:09,240 --> 00:28:11,240 Speaker 3: to do that, I think that that's incredible, and it 653 00:28:11,320 --> 00:28:14,560 Speaker 3: obviously is something that she compromised a lot of other 654 00:28:14,680 --> 00:28:17,399 Speaker 3: things to achieve, so I think we need to recognize 655 00:28:17,440 --> 00:28:20,159 Speaker 3: that as well. She also was incredibly lucky to be 656 00:28:20,200 --> 00:28:22,080 Speaker 3: able to live at home and probably have a lot 657 00:28:22,160 --> 00:28:24,199 Speaker 3: less fixed costs than a lot of us who are 658 00:28:24,280 --> 00:28:26,640 Speaker 3: not living at home. So as much as this story 659 00:28:26,760 --> 00:28:30,000 Speaker 3: is absolutely fantastic, I'd hate for other people to listen 660 00:28:30,080 --> 00:28:32,080 Speaker 3: to this and feel a little bit flat that they're 661 00:28:32,119 --> 00:28:35,119 Speaker 3: the same age and haven't achieved the same things. Because 662 00:28:35,119 --> 00:28:38,640 Speaker 3: as much as this is an absolutely fantastic thing and honestly, 663 00:28:38,720 --> 00:28:42,880 Speaker 3: congratulations to her, I'm so impressed. It does take sacrifice 664 00:28:43,040 --> 00:28:46,640 Speaker 3: and planning to save money like this, and it also 665 00:28:47,240 --> 00:28:49,880 Speaker 3: takes a lot of diligence over the long period of time, 666 00:28:50,000 --> 00:28:53,200 Speaker 3: so it's not something that we are all able to 667 00:28:53,320 --> 00:28:56,440 Speaker 3: actually achieve. It's incredible, and for her to have already 668 00:28:56,480 --> 00:28:58,680 Speaker 3: paid off her hex as well, like that's a lot 669 00:28:58,800 --> 00:29:02,000 Speaker 3: of head down, bum up, But I think that it's 670 00:29:02,040 --> 00:29:04,840 Speaker 3: also really really great that, you know, we are able 671 00:29:04,880 --> 00:29:08,160 Speaker 3: to share stories like this and go, Wow, great for her, 672 00:29:08,320 --> 00:29:09,200 Speaker 3: I'm so impressed. 673 00:29:09,840 --> 00:29:11,400 Speaker 4: I can't do it, but that's okay. 674 00:29:11,640 --> 00:29:14,240 Speaker 1: Yeah, if you're not willing to sacrifice, that's totally okay. 675 00:29:14,760 --> 00:29:16,520 Speaker 1: It just might take a little longer, and that's fine too. 676 00:29:16,680 --> 00:29:18,360 Speaker 3: Yeah, And I don't even know if it's just about 677 00:29:18,400 --> 00:29:20,760 Speaker 3: being willing to sacrifice. Some of us are just not 678 00:29:20,880 --> 00:29:23,440 Speaker 3: in positions where that's not a thing we can do. 679 00:29:23,840 --> 00:29:25,120 Speaker 4: But it also might not be a. 680 00:29:25,160 --> 00:29:28,440 Speaker 3: Priority to us, like buying a house young fantastic, it 681 00:29:28,520 --> 00:29:31,080 Speaker 3: sounds really great, But I would never have been in 682 00:29:31,160 --> 00:29:33,720 Speaker 3: that position. And to be honest, if you'd said to 683 00:29:33,840 --> 00:29:35,720 Speaker 3: me whilst I was still at UNI, like do you 684 00:29:35,760 --> 00:29:37,880 Speaker 3: want to be saving this amount of money? It would 685 00:29:37,920 --> 00:29:41,240 Speaker 3: mean forgoing all of your social interactions, all of the 686 00:29:41,320 --> 00:29:43,200 Speaker 3: things that you want to do, I probably would have 687 00:29:43,240 --> 00:29:45,520 Speaker 3: said no. So I think it's worth having a look 688 00:29:45,560 --> 00:29:48,320 Speaker 3: at and going all right, that's fantastic for her, what 689 00:29:48,480 --> 00:29:51,680 Speaker 3: a gal. But also that's probably not in line with 690 00:29:51,800 --> 00:29:54,360 Speaker 3: my values. And that's the most important thing to take 691 00:29:54,400 --> 00:29:57,680 Speaker 3: away from this, people spending money in relation to their 692 00:29:57,760 --> 00:29:58,560 Speaker 3: values and beliefs. 693 00:29:58,800 --> 00:29:59,680 Speaker 1: But well done to her. 694 00:30:00,000 --> 00:30:02,400 Speaker 4: A plus, I reckon, I reckon A plus. That's a 695 00:30:02,560 --> 00:30:03,800 Speaker 4: plus plus for sure. 696 00:30:04,200 --> 00:30:06,400 Speaker 1: That's all we have time for today, Victoria, just before 697 00:30:06,400 --> 00:30:08,720 Speaker 1: we head off, though, as always, let's quickly wrap the 698 00:30:08,760 --> 00:30:11,360 Speaker 1: boring butt important stuff. The advice shared on Shees on 699 00:30:11,400 --> 00:30:13,360 Speaker 1: the Money is general in nature and does not consider 700 00:30:13,440 --> 00:30:16,560 Speaker 1: your individual circumstances. She's on the Money exists purely for 701 00:30:16,680 --> 00:30:19,120 Speaker 1: educational purposes only and should not be relied upon to 702 00:30:19,160 --> 00:30:22,080 Speaker 1: make an investment or financial decision. And of course we 703 00:30:22,200 --> 00:30:25,800 Speaker 1: promise Victoria Divine is an authorized representative of Consulting Financial 704 00:30:25,840 --> 00:30:29,960 Speaker 1: Advices Proprietary Limited ABN sixty five double six three seven 705 00:30:30,000 --> 00:30:33,520 Speaker 1: PREE double nine five AFSL two three O three two three. 706 00:30:33,680 --> 00:30:36,120 Speaker 4: Woo. You did air heavy all right? 707 00:30:36,360 --> 00:30:39,960 Speaker 3: So join our Facebook group, where over eighteen thousand women 708 00:30:40,160 --> 00:30:42,960 Speaker 3: share their money tips and tricks every single day, free 709 00:30:43,000 --> 00:30:45,920 Speaker 3: of judgment. Just search She's on the Money on Facebook 710 00:30:45,960 --> 00:30:48,480 Speaker 3: and join us. If Facebook is not your theme, you 711 00:30:48,560 --> 00:30:50,080 Speaker 3: can also find us on Instagram. 712 00:30:50,320 --> 00:30:52,080 Speaker 4: We're it She's on the Money AUS. 713 00:30:52,600 --> 00:30:55,120 Speaker 1: This podcast is a production of Shameless Media on behalf 714 00:30:55,160 --> 00:30:57,480 Speaker 1: of She's on the Money. See you next week, every one, 715 00:30:57,760 --> 00:30:58,040 Speaker 1: see you