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Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yr

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Speaker 1: the Order Kerni Whoalbury and a waddery woman. And before

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Speaker 1: we get started on She's on the Money podcast, I

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Speaker 1: would like to acknowledge the traditional custodians of the land

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Speaker 1: of which this podcast is recorded on a wondery country,

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Speaker 1: acknowledging the elders, the ancestors and the next generation coming

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Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing

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Speaker 1: and the storytelling of you to make a difference for

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Speaker 1: today and lasting impact for tomorrow.

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Speaker 2: Let's get into it.

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Speaker 3: She's on the Money, She's on the Money.

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Speaker 2: Hello and welcome.

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Speaker 4: She's on the Money the podcast Millennials who Want Financial Freedom.

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Speaker 2: This week, I am super excited to announce.

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Speaker 4: A brand new co host just for this week, my friend,

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Speaker 4: the gorgeous Moana Hope.

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Speaker 2: Mo Welcome to She's on the.

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Speaker 5: Money Financial Advice. And you brought me on here.

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Speaker 4: Yeah, I mean I just felt like it was fair.

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Speaker 4: I've been on your show a couple of times.

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Speaker 2: You had to come on mine. I'm coming on yours again.

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Speaker 4: No, I actually think that you are the perfect person

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Speaker 4: to talk to today and when it came to International

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Speaker 4: Women's Day, my team and I sat down and we

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Speaker 4: like brainstormed some people that we could sit down with

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Speaker 4: and you know, have a good chat that would add

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Speaker 4: value to the community, but also be engaging for me,

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Speaker 4: because I don't want to just get people on the

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Speaker 4: show that I'm like, they had a cool name, you know,

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Speaker 4: like that doesn't make sense. You know who came up.

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Speaker 4: You came up, and Maria came up, and we were like,

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Speaker 4: all right, well it makes sense. They're a very hot couple.

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Speaker 4: But also you are just such a powerful woman that

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Speaker 4: I look at you and I go, this makes sense.

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Speaker 4: Like this year's theme for International Women's Day is count

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Speaker 4: her in, and we want to be investing in women

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Speaker 4: and accelerating their progress. And obviously, when it comes to

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Speaker 4: financial literacy, that was something that you've spoken out before.

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Speaker 4: We've had some really beautiful conversations on your radio show

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Speaker 4: about the lack of financial literacy for women and how

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Speaker 4: we can increase that. And I just think that obviously

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Speaker 4: it's an important topic for our community. But I just

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Speaker 4: thought that having a good conversation about you, your money story,

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Speaker 4: where you've come from, what you think about the future,

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Speaker 4: and everything in between would be very wholesome for my

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Speaker 4: community because you're in the right place.

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Speaker 5: Well, I'm ready, you're ready.

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Speaker 4: I was like, don't think you're coming on here, and

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Speaker 4: I'll be like, all right. So if someone's investing.

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Speaker 5: In a portfolio, imsel I do not. I'm the kid

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Speaker 5: that grew up in housing commission. I was talking about

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Speaker 5: this year, say on my show, and I always talk

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Speaker 5: about you on my show because I still can't save.

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Speaker 5: But the things that simple things that you explain on

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Speaker 5: your podcast and on Instagram, I'm just like, how does

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Speaker 5: nobody know this stuff? Why aren't we taught these things?

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Speaker 5: So for me, like I was never taught that stuff.

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Speaker 5: I was never taught how to save or what it

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Speaker 5: takes to buy a house or you know, I've got

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Speaker 5: my own business. No, I didn't even know how I'm

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Speaker 5: doing it. But I'm just somehow making it up. So

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Speaker 5: I'm not making it up, like making it up, but

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Speaker 5: I can't at it or not make it up. I

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Speaker 5: learned as I went. I taught myself. I googled, I watched,

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Speaker 5: I listened, I absorbed, and I implemented what I thought

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Speaker 5: was right.

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Speaker 4: But isn't it wild that you can say oh, I

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Speaker 4: just taught myself how to do it in twenty twenty four. Like,

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Speaker 4: it's completely possible to change your money story and to

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Speaker 4: change the trajectory of your life and where it's going

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Speaker 4: and what that looks like, and like you are obviously

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Speaker 4: a really good example of that. But if we go

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Speaker 4: back fifty years, that wasn't a privilege that we had,

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Speaker 4: Like you couldn't sit down and be like, well, I

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Speaker 4: want to start a business, because do you know what,

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Speaker 4: you would have had to have a male co sign

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Speaker 4: any type of business like loan that you needed, no

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Speaker 4: one would have trusted. You needn't have access to the information.

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Speaker 4: I just think that we're in such a privileged position today,

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Speaker 4: and I guess that's why when it came to the

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Speaker 4: topic of talking about economic empowerment and accelerating you know,

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Speaker 4: gender equality, it made sense to get you in because

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Speaker 4: I feel like you've been like, you know, I'm just

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Speaker 4: going to take it by the horns. This was my past,

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Speaker 4: and look at my future. Look what I'm doing for

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Speaker 4: my kids. Like I just look at it and go,

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Speaker 4: I need to all the things. So it sounds like

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Speaker 4: a bit of a wordy topic, but in a nutshell,

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Speaker 4: we're talking about how women being empowered in the financial

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Speaker 4: space is one of the best ways that we can

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Speaker 4: actually create gender equality.

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Speaker 2: And I guess I want to talk.

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Speaker 4: To you a bit more like at the start about

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Speaker 4: your relationship with money. Like growing up you've said, you know,

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Speaker 4: I grew up in commission housing. That wasn't it. What

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Speaker 4: did that relationship with money look like? Because it's changed

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Speaker 4: since then, and now you are in a position.

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Speaker 2: You could buy a house, you could do all of

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Speaker 2: this stuff. But like going back to Baby Mo, did

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Speaker 2: she know that that was a possibility.

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Speaker 5: No, Like generally, even as an eighteen year old, my

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Speaker 5: only goal was to be able to pay my rent.

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Speaker 5: That was it, fucking pay rent and buy myself furniture.

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Speaker 5: I'm winning the way. I grew up watching my parents

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Speaker 5: do it tough, lost my dad at a young age,

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Speaker 5: grew up in really a house full of domestic violence.

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Speaker 5: To be fair and to be real, was never taught anything.

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Speaker 5: I don't even think I was old. I was loved

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Speaker 5: as a child, so I had to teach myself literally everything.

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Speaker 5: And I know your producers looking at me like pity eyes,

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Speaker 5: But what pity? The first time I was told I

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Speaker 5: was loved. I was twenty four years of age from

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Speaker 5: a parent. So for me, my whole life has been

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Speaker 5: like survival and teach yourself. And I just knew that,

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Speaker 5: you know, And no disrespect to my family. I love them,

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Speaker 5: but they're all stuck in a cycle and I needed

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Speaker 5: to break that. And there's nothing I wanted more than

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Speaker 5: my own family. But I promised myself I would not

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Speaker 5: bring children into this world unless I can afford to

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Speaker 5: keep a roof over the head and put food on

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Speaker 5: a table. And that was my drive. And so I

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Speaker 5: got my first job at seventeen eighteen as a traffic controller,

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Speaker 5: just working on the road, trying to make money. I've

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Speaker 5: been evicted from houses, I've almost lost my car, I've

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Speaker 5: lost my phone that's been turned off. I've been through everything,

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Speaker 5: but I've learned from all of that, and I just

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Speaker 5: had to teach myself what money is. And because I

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Speaker 5: didn't have it, I didn't want to go for that

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Speaker 5: thing of now I've got it, now I just spend it,

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Speaker 5: because like I've really wanted to learn how I can

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Speaker 5: not buy the things that I want, but only get

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Speaker 5: the things I need. And I think that's just kind

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Speaker 5: of what I've done, and.

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Speaker 2: It's what you've maintained as well.

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Speaker 4: I think that's my favorite thing about all of this

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Speaker 4: is you are still so down to earth. You are

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Speaker 4: the person on Mike that you are off Mic, and

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Speaker 4: that's incredible because I feel like so many people when

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Speaker 4: they come into a different financial circumstance aren't. And like,

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Speaker 4: you're talking about your family and not being told that

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Speaker 4: you're loved, and I go, you know what, you would

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Speaker 4: never know if you looked from the outside in, because

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Speaker 4: you shower your kids with so much love, dive deeper

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Speaker 4: into it, and there's obviously a story there of that's

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Speaker 4: not what you've got, and you're like, no, I'm going

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Speaker 4: to be so aggressive about making sure that they know

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Speaker 4: they are loved.

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Speaker 5: Can I tell you something? Of course, absolutely not. That's

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Speaker 5: not what I was, which is so beautiful when I

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Speaker 5: love that about myself, and that's why I talked to

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Speaker 5: Maribe all the time. I love that the way parenting

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Speaker 5: and I appreciate your kind words is not because I'm

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Speaker 5: trying to be what they weren't. I'm just being what

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Speaker 5: I want to be, and that is loving.

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Speaker 2: I true, you are being my.

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Speaker 5: Kids to feel nothing but love and support and be

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Speaker 5: there any moment that they need me exactly.

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Speaker 2: I just want to be a parent like you.

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Speaker 4: Like I was saying that to my husband the other day,

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Speaker 4: because you know, when you're pregnant, you haven't had your

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Speaker 4: first baby yet, you're like you're anxious, right, You're like,

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Speaker 4: am I even gonna be good at this? Like this

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Speaker 4: child service is going to come and take this child

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Speaker 4: off me because they'll be like Victoria, like you don't

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Speaker 4: have a parenting license, Like I literally at three am

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Speaker 4: worry so much about like am I going to be

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Speaker 4: able to give them what they deserve? Am I going

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Speaker 4: to be able to provide them with, you know, absolutely

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Speaker 4: everything while still you know, maintaining a piece of me.

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Speaker 4: And you know, he goes, well, you know you've got

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Speaker 4: a heap of like mum friends, Like what mum friends

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Speaker 4: do you look at the most? And I go, Mo,

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Speaker 4: I want to be MO, Like I just you've got

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Speaker 4: this drive, you have this passion. You're still running your

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Speaker 4: business like you've got an epic radio show. You've got

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Speaker 4: so much going on, but the priority in your life

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Speaker 4: is your children always, like over and above absolutely everything.

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Speaker 2: And I just go, That's who I want to be yeah.

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Speaker 5: Well, you know, as a kid when my dad died

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Speaker 5: of cancer, I didn't have a great relationship with him,

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Speaker 5: but I remember listening to him two days out from dying.

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Speaker 5: He was in his room and all he kept saying

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Speaker 5: was regret. And he called my older brother sisters in.

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Speaker 5: He was saying goodbye, and he's like, I'm sorry, I

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Speaker 5: didn't do this. I'm sorry. As a twelve year old kid,

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Speaker 5: I said to myself in that moment, I'd never want

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Speaker 5: to be him. Don't ever be on your deathbed regretting life.

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Speaker 5: And for me, you can have all the money in

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Speaker 5: the world, but you still get buried alone. If I'm

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Speaker 5: privileged enough to live to an old woman, which is

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Speaker 5: what I hope I get to be as old, I

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Speaker 5: hope I'm surrounded by love, because at the end of

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Speaker 5: the day, being surrounded by money to me meanshit. I

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Speaker 5: want to be surrounded by the people I love and

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Speaker 5: I will drop everything that happens in my life right

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Speaker 5: now if my kids need me. And that's just the

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Speaker 5: kind of person I am. That's why I adore you.

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Speaker 4: That's why I was like, please come on my shirt

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Speaker 4: and can I share you with my community? Obviously growing

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Speaker 4: up with a large amount of siblings. How did you

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Speaker 4: change that you knew that you wanted to. You were like,

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Speaker 4: this isn't who I want to be going through that

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Speaker 4: experience at twelve, going I don't want regrets like my

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Speaker 4: dad has.

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Speaker 2: What were you doing to change that?

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Speaker 1: Like?

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Speaker 4: How have you crafted your money story in such a

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Speaker 4: way that it is what it is now?

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Speaker 5: Work hard to be fair, Just really work hard. Like

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Speaker 5: there were times where we couldn't eat well, we didn't

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Speaker 5: eat is kids, we didn't have food to take to school.

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Speaker 5: I had this teacher as my favorite teacher, Missus Harrison.

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Speaker 5: I still remembered why teachers are so important. Should bring

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Speaker 5: an extra lunch every day in case I didn't have food.

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Speaker 5: So for me, I just knew I had to work

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Speaker 5: so hard. I didn't go to school, so I didn't

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Speaker 5: do any high school because I actually moved out with

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Speaker 5: my dad to take care of him with his cancer

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Speaker 5: because the doctor said he couldn't leave home. So I

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Speaker 5: cared for him for like five seven years, So no schooling.

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Speaker 5: And when I got my first job, I just knew

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Speaker 5: that if I worked really hard, I could do something,

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Speaker 5: and even if that just meant being able to pay rent,

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Speaker 5: buy food, and pay the bill. I am winning, do

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Speaker 5: you know what I mean? Like I wanted to move

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Speaker 5: away from using Centralink or you know, living in housing commission.

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Speaker 5: I knew I wanted more in life, so I started

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Speaker 5: with just rent bills, the basics and just having the

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Speaker 5: dream car, which back then the dream car was a hold.

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Speaker 5: And don't judge me.

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Speaker 2: Not judging me, that's very broady of you, though, Yeah that.

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Speaker 5: Was my dream car. I was like, oh my god,

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Speaker 5: that's like my now version of like Arrange Rover. But

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Speaker 5: that was it. And I did that. I mean, I

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Speaker 5: got paid off for the next eight years.

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Speaker 2: And that's not the point. I got your bits on

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Speaker 2: it exactly.

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Speaker 5: And that just made me so proud of myself to

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Speaker 5: know that I'd done that, because that's something that my

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Speaker 5: mom wasn't able to do. Like my mom was married

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Speaker 5: to my dad for I don't know, almost thirty something years,

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Speaker 5: and she not once from the age of nineteen to

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Speaker 5: forty nine. She was not allowed access to money. She

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Speaker 5: did not see a cent of the money, and she

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Speaker 5: wasn't allowed to know where the money went. She worked

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Speaker 5: full time, she was a nurse. She ended the financial

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Speaker 5: come none of her income he took it all. So

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Speaker 5: for me, I was like, I'm doing what I want

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Speaker 5: to do and I'm really proud of myself. So that's

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Speaker 5: where I started. And once I was renting a house,

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Speaker 5: I brought my self furniture, I've got my car. Then

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Speaker 5: I was like, my dream one day is to buy

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Speaker 5: a house because I wanted to make my mom proud.

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Speaker 5: Do you know what I mean? I would love for

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Speaker 5: a house, yeah, but I also want to be like, Mum,

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Speaker 5: someone brought a house one of your kids did this?

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Speaker 5: Do you know what I mean? Like that was a

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Speaker 5: thing for me, So that became my next goal.

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Speaker 2: And then what was it like sharing that news with

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Speaker 2: your mom?

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Speaker 5: I call my mom with everything, So to call my

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Speaker 5: mom and be like, hey, guess what I think I'm

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Speaker 5: going to be able to buy a house. Of course,

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Speaker 5: it's like we here in Glenroy.

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Speaker 2: I love her.

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Speaker 4: I love it right here right, Like it has to

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Speaker 4: be like next door.

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Speaker 5: Right Yeah. I was like, Mom, it's not where I'm working,

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Speaker 5: can't do that, but it's actually one of my dreams

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Speaker 5: to buy an investment property in Glenroy, just because that's home.

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Speaker 5: But yeah, to share that moment with her, for me,

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Speaker 5: every moment I've had, and being able to share with

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Speaker 5: her has just been some of the best memories of

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Speaker 5: my life because for me, I watched that woman sacrifice

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Speaker 5: her whole life literally, and she went through how to

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Speaker 5: have just the smallest things that she did, but she

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Speaker 5: stayed and she fought for.

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Speaker 2: Us, and she was all about her kids always.

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Speaker 4: But I feel like every time you and I catch up,

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Speaker 4: we always talk about your mum, like something comes back

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Speaker 4: to your mum, and like the way that you talk

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Speaker 4: about her is so wholesome and so beautiful, and you

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Speaker 4: just know that you have so much admiration for everything

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Speaker 4: that she did and everything that she went through.

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Speaker 2: I look at it and go, that's so special.

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Speaker 4: But also it's just so nice to see the way

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Speaker 4: that your value system sits because you look at it

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Speaker 4: and go, you know, it's still all about those basic

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Speaker 4: needs that everybody deserves, right and coming from where you

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Speaker 4: came from, paying rent, like that's a goal. And I

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Speaker 4: think too often we live in this world where social

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Speaker 4: media takes over, and you know, I scroll through TikTok

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Speaker 4: and everyone's got a designer this and a designer that,

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Speaker 4: and like there's just this next level of expectation, and

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Speaker 4: we look at ourselves and go, I'm not good enough

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Speaker 4: if I don't X y Z.

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Speaker 2: But we're forgetting that.

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Speaker 4: That's not what I's about. Life is about friends and

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Speaker 4: family and having food on the table. And I think

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Speaker 4: that so many of us need to go back to

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Speaker 4: being grateful for that and actually appreciating the small things,

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Speaker 4: because the bigger things they mean nothing if you can't

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Speaker 4: appreciate what you already have.

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Speaker 5: And that's something that I'll always be grateful for. If

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Speaker 5: I have roof over my head and food on a table,

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Speaker 5: I'm winning. And I look at my sister who's special needs,

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Speaker 5: you know, Vinny, but you know what she is a

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Speaker 5: perfect example of if she came in here and she

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Speaker 5: sat right next to you, and you can probably afford

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Speaker 5: to buy anything for her, Let's be real.

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Speaker 4: I mean she always asks you for stuff that's like

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Speaker 4: not that eart.

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Speaker 5: And I made this point to this lady who own

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Speaker 5: a real estate agency, right, so quite wealthy. Yeah, I said.

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Speaker 5: The difference between her and us is she's categorized as disabled, right,

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Speaker 5: and we're supposed to be the normal ones. But watch this,

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Speaker 5: ask her three things that if she wanted anything in

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Speaker 5: the world. I buy it for her, go and ask

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Speaker 5: her what she wants, and she did, and Levini said,

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Speaker 5: I just want a wall charger for my iPhone. Right,

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Speaker 5: it's what ten bucks? I need a new lead for

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Speaker 5: that phone because I broke mine. It's probably another ten bucks.

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Speaker 5: And she wanted ten dollars credit for a phone.

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Speaker 4: So in total, I love that She's like, I don't

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Speaker 4: even need a lot of credit, just ten bucks.

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Speaker 5: Now that she could have shard a house, a boat,

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Speaker 5: a trip around the world, but she just said, what

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Speaker 5: are the three things I need right now in life?

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Speaker 5: What will make me happy? The simple things? I love

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Speaker 5: her so much, and that's me. I just like the

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Speaker 5: simple things. My favorite pea shorts is the same shorts

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Speaker 5: I warrant Survivor four years ago. I still wear them

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Speaker 5: every day. They've got a hold of them. I don't

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Speaker 5: give a shit whatever.

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Speaker 2: They're still evaves.

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Speaker 5: But I don't care about brands. Like brands don't bother me.

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Speaker 5: Like this is yes, I'm wearing a ruffler and jump

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Speaker 5: it was gifted to me by Free Maria.

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Speaker 4: Oh yeah, she's though she got fancy wardrobe, which is

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Speaker 4: why we're so different. No, the opposites are tract right, Like,

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Speaker 4: I feel like you balance each other out and that's

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Speaker 4: literally perfect. Let's go to a really quick break because

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Speaker 4: I want to talk a little bit more about how

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Speaker 4: we can empower women in my community and broader than that,

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Speaker 4: to be economically empowered, because for so long, these stereotypes

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Speaker 4: of men running the world have existed, and I mean

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Speaker 4: it's been peppered throughout your childhood of your dad running

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Speaker 4: all of the financeers. But we're kicking back from that,

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Speaker 4: so guys don't go anywhere, all right, mo, we are back,

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Speaker 4: and I want to dive straight in. One of the

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Speaker 4: positive things that we see through women becoming economically empowered

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Speaker 4: is a lot of women actually stepping into side hustles

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Speaker 4: and small businesses. And recently we surveyed my community and

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Speaker 4: you know, one of the questions we asked was like,

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Speaker 4: do you have a small business or a side hustle?

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Speaker 4: Twenty two percent of them said yes, And I was like, wait,

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Speaker 4: what twenty two percent of you, like twenty five have

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Speaker 4: a small business or a side hustle going on. They're

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Speaker 4: like making some extra cash on the side, and I

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Speaker 4: just was like, what, like, how cool is that? In

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Speaker 4: twenty twenty four or I did this research in twenty

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Speaker 4: twenty three, but same, same, They're just out there hustling

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Speaker 4: and that's something that we've not been able to I

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Speaker 4: guess see before. It's not something that we've been empowered

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Speaker 4: to do. We've always been you know, strapped to the

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Speaker 4: home or like you know, controlled by the patriarchy. And

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Speaker 4: I just think it is so epic that we see

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Speaker 4: this growth. And according to an article written by the

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Speaker 4: Minister's Treasury Portfolio Julie Collins, the Minister for Housing and

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Speaker 4: Homelessness and the Minister for Small Business, women account for

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Speaker 4: around one third of Australia's small business population. That number

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Speaker 4: has grown by twenty four percent between two thousand and

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Speaker 4: six and two thousand and one, which I think is

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Speaker 4: very epic. But it's more than three times the growth

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Speaker 4: of their male counterparts. Obviously very encouraging stats. But do

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Speaker 4: we need to have a side hustle to be successful?

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Speaker 5: On my reader show, which I've come on, I I

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Speaker 5: give you like three four its entrepreneurs.

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Speaker 2: To reruns because I can't chine them when you're life.

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Speaker 2: I'm a creepy I know.

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Speaker 5: I have to say. Every single woman I've interviewed has

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Speaker 5: said they've had a side hustle. They had a side

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Speaker 5: hustle to have that business. And what makes me happy

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Speaker 5: about the stats you've just read out is I'm going

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Speaker 5: to give you a really sad stat right that is,

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Speaker 5: in Australia, women over the age of fifty five are

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Speaker 5: the fastest growing group of homelessness. Right because women historically,

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Speaker 5: thank you, patriarchally get fucked. Don't know if I can

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Speaker 5: swear sorry, told women to stay home, cook for the man,

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Speaker 5: clean up, take care of the kids. And then when

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Speaker 5: the kids are in school, where do they go. They've

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Speaker 5: got no job, no experience, no one will hire them.

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Speaker 5: And then what happens. They get left, they get divorced,

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Speaker 5: They've got nowhere to go, no savings, no super and

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Speaker 5: now they're homeless living on the streets.

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Speaker 2: To me, it is cooked.

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Speaker 4: I know that stat and it breaks me because it's

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Speaker 4: not obvious the way it happens. Right, Like, you don't

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Speaker 4: sign up to be a mum because you go, all right, well,

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Speaker 4: I really.

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Speaker 2: Want to not have economic empowerment.

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Speaker 4: You sign up to be a mum because it's going

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Speaker 4: to be the greatest adventure of your entire life.

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Speaker 2: Right, And I'm pretty sure.

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Speaker 4: So many women if we said to them, if you

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Speaker 4: had the opportunity to stay home twenty four to seven

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Speaker 4: with your kids, do you want that, they.

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Speaker 2: Would jump at that opportunity.

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Speaker 1: Right.

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Speaker 4: So it's not as though we're being forced into these roles.

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Speaker 4: But at the same time, we're not being considered, we're

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Speaker 4: not being allocated for. We're not having these deeper conversations

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Speaker 4: with our partners to say, all right, well, mo, you're

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Speaker 4: going back to work, your partner's going to stay home

415
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Speaker 4: with a partner. Are you contributing to their superannuation so

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Speaker 4: that they're never behind or left out? Are we talking about,

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Speaker 4: you know, making sure that we're not talking about giving

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Speaker 4: your wife an allowance. We're talking about, you know, having

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Speaker 4: actual financial empowerment in a relationship. Because I believe that

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Speaker 4: people who stay home to be the primary care of

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Speaker 4: children are actually worth so much more than the person

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Speaker 4: that's going to work and bringing in the cash, because

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Speaker 4: they are completely irreplaceable.

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Speaker 2: You lose that.

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Speaker 4: Person, how much is it going to cost for you

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Speaker 4: to still maintain your full time job and have the

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Speaker 4: kids cared for in exactly the same way.

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Speaker 5: I can answer that, well, how? And the other issue

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Speaker 5: is women face also to be about seeing a women

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Speaker 5: as well. Daycare prices are a joke. Like I looked

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Speaker 5: at putting one kid into daycare last year, and it

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Speaker 5: was going to cost me weekly nine hundred dollars for

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Speaker 5: him to be in daycare.

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Speaker 2: Actually insane.

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Speaker 4: I did point I did the research as well, because

436
00:19:21,760 --> 00:19:24,560
Speaker 4: it turns out daycare is not just expensive, it's really

437
00:19:24,560 --> 00:19:27,840
Speaker 4: elitist and you can't just get in immediately exactly.

438
00:19:28,240 --> 00:19:31,359
Speaker 5: And this is another ridiculous part that I didn't know,

439
00:19:31,440 --> 00:19:33,399
Speaker 5: and I learned the hard way. I put him in

440
00:19:33,440 --> 00:19:35,040
Speaker 5: because I don't have a choice right split with my

441
00:19:35,080 --> 00:19:37,399
Speaker 5: ex wife. I had to keep working or I couldn't

442
00:19:37,400 --> 00:19:38,840
Speaker 5: pay for food. Put it in my heart, but I

443
00:19:38,880 --> 00:19:40,840
Speaker 5: was like, I need to do it right, So I

444
00:19:40,880 --> 00:19:42,639
Speaker 5: put him in. The first day he was there, he

445
00:19:42,680 --> 00:19:45,159
Speaker 5: got sick. He had croup, he was unbelievably unwell for

446
00:19:45,200 --> 00:19:47,760
Speaker 5: two weeks. They invoiced me for two weeks. I was like,

447
00:19:47,840 --> 00:19:49,920
Speaker 5: what do you mean he's not there? They go, yeah,

448
00:19:49,920 --> 00:19:52,320
Speaker 5: but if he's sick, you still have to pay. So

449
00:19:52,840 --> 00:19:55,119
Speaker 5: that is a rule on all daycares that if your

450
00:19:55,200 --> 00:19:56,920
Speaker 5: kid does not attend one a day that you're registered

451
00:19:57,000 --> 00:19:59,840
Speaker 5: to go, you still have to pay. So now, think

452
00:19:59,880 --> 00:20:02,639
Speaker 5: of single women or women who come to the agreement

453
00:20:02,680 --> 00:20:04,600
Speaker 5: with their partner and then decide to put their kid

454
00:20:04,640 --> 00:20:06,399
Speaker 5: into daycare so they can go to work. What are

455
00:20:06,400 --> 00:20:09,359
Speaker 5: you working for? Not many women earn over nine hundred

456
00:20:09,359 --> 00:20:11,919
Speaker 5: dollars a month a week. I don't have statistics for you,

457
00:20:11,960 --> 00:20:12,560
Speaker 5: but there's not.

458
00:20:12,880 --> 00:20:15,680
Speaker 4: No And it's insane to think about that trade off

459
00:20:15,680 --> 00:20:18,000
Speaker 4: as well, because let's pretend they do come home with

460
00:20:18,080 --> 00:20:20,879
Speaker 4: one thousand dollars a week, Like, we're still paying tax

461
00:20:20,920 --> 00:20:23,640
Speaker 4: on that amount of money. We're still going all right, well,

462
00:20:24,040 --> 00:20:26,360
Speaker 4: what is the cost of me being away? And this

463
00:20:26,400 --> 00:20:29,000
Speaker 4: is something that I feel like so many mums are

464
00:20:29,040 --> 00:20:31,520
Speaker 4: having the battle of, like is it worth the extra

465
00:20:31,640 --> 00:20:34,120
Speaker 4: ninety bucks I'll end up bringing into the family every

466
00:20:34,160 --> 00:20:36,479
Speaker 4: week to be away for them to be sick. But

467
00:20:36,520 --> 00:20:39,400
Speaker 4: then also I could talk about this for forever, right,

468
00:20:40,400 --> 00:20:43,680
Speaker 4: what happens when the baby is sick the primary care

469
00:20:43,960 --> 00:20:46,600
Speaker 4: there's usually a default parent. It's not like, oh, yep,

470
00:20:46,640 --> 00:20:48,439
Speaker 4: i'll do it this time you did at that time.

471
00:20:48,640 --> 00:20:51,680
Speaker 4: There's usually some level of power dynamic that says, well,

472
00:20:51,960 --> 00:20:53,760
Speaker 4: I've got the bigger job, I've got the better job,

473
00:20:53,760 --> 00:20:57,200
Speaker 4: I really need the sleep and it starts so early on,

474
00:20:57,359 --> 00:20:59,440
Speaker 4: and I've been doing a lot of research. I think

475
00:21:00,080 --> 00:21:02,919
Speaker 4: I'm just passionate about it because I feel so supported

476
00:21:03,000 --> 00:21:05,800
Speaker 4: in my life, like my husband is going to bend

477
00:21:05,840 --> 00:21:09,000
Speaker 4: over backwards for this baby. And you know, a lot

478
00:21:09,040 --> 00:21:10,800
Speaker 4: of my friends, I'll speak to them and be like, Oh,

479
00:21:10,840 --> 00:21:11,400
Speaker 4: how's it going.

480
00:21:11,400 --> 00:21:12,919
Speaker 2: They'll be like, Yeah, my husband's.

481
00:21:12,560 --> 00:21:15,720
Speaker 4: Back at work, so I'm staying up at night doing

482
00:21:15,760 --> 00:21:17,639
Speaker 4: all of the feeds, so when he wakes up in

483
00:21:17,680 --> 00:21:20,320
Speaker 4: the morning and goes to work, he's fresh and ready

484
00:21:20,400 --> 00:21:22,160
Speaker 4: for a whole day of work. And I'm like, you're

485
00:21:22,160 --> 00:21:24,200
Speaker 4: forgetting that you have a whole day of work as well,

486
00:21:24,200 --> 00:21:27,239
Speaker 4: and that being a parent is actually a job, Like

487
00:21:27,320 --> 00:21:30,760
Speaker 4: it's actually exhausting, Like you can't just sleep when the

488
00:21:30,800 --> 00:21:32,880
Speaker 4: baby sleeps. What are we going to do the washing

489
00:21:32,920 --> 00:21:34,600
Speaker 4: when the baby does the washing, and do the cleaning

490
00:21:34,600 --> 00:21:37,719
Speaker 4: when the baby does a cleaning. Like it actually grinds

491
00:21:37,800 --> 00:21:41,840
Speaker 4: my gears that there's just this power imbalance inherently built

492
00:21:41,920 --> 00:21:45,280
Speaker 4: into relationships. But that's I guess, going back to your

493
00:21:45,320 --> 00:21:48,639
Speaker 4: conversation about homelessness and how so many women over the

494
00:21:48,680 --> 00:21:52,080
Speaker 4: age of fifty five are in that cohort, it's because

495
00:21:52,119 --> 00:21:54,400
Speaker 4: it creeps up on you like you go, all right,

496
00:21:54,440 --> 00:21:55,879
Speaker 4: well take some time out to have a baby.

497
00:21:55,880 --> 00:21:56,840
Speaker 2: That's absolutely fine.

498
00:21:56,880 --> 00:21:59,440
Speaker 4: Maybe you have thought about super but it's one year,

499
00:21:59,480 --> 00:22:01,399
Speaker 4: and then it's two, two years, and then you're making

500
00:22:01,480 --> 00:22:03,960
Speaker 4: compromises on the career that you could have had because

501
00:22:04,000 --> 00:22:06,960
Speaker 4: you go, well, actually love the kids, I don't actually

502
00:22:07,000 --> 00:22:09,840
Speaker 4: want to return full time. That aspiration of you know,

503
00:22:10,080 --> 00:22:12,600
Speaker 4: becoming something bigger or having a career gets put on

504
00:22:12,600 --> 00:22:14,520
Speaker 4: the side, and you might make a choice that's like,

505
00:22:14,560 --> 00:22:16,439
Speaker 4: all right, well, I know what I want to do.

506
00:22:16,480 --> 00:22:18,200
Speaker 4: I want to take an admin job for three days

507
00:22:18,200 --> 00:22:20,439
Speaker 4: a week because that gives me the best work life balance.

508
00:22:20,480 --> 00:22:23,840
Speaker 4: And you're going down a completely different path, and then

509
00:22:24,000 --> 00:22:28,000
Speaker 4: ultimately something might happen, your relationship dissolves, and you've found

510
00:22:28,040 --> 00:22:31,639
Speaker 4: yourself not prepared in the way that you would have

511
00:22:31,680 --> 00:22:34,640
Speaker 4: been if you had chosen in exactly the same way

512
00:22:34,680 --> 00:22:35,639
Speaker 4: that your partner could have.

513
00:22:36,240 --> 00:22:37,119
Speaker 2: This is a stereotype.

514
00:22:37,160 --> 00:22:39,399
Speaker 4: I got to go and become the best lawyer, but

515
00:22:39,440 --> 00:22:42,359
Speaker 4: you didn't have that because you were consistently compromising the

516
00:22:42,440 --> 00:22:44,919
Speaker 4: choices that you were making to put your family first,

517
00:22:45,160 --> 00:22:46,639
Speaker 4: and that ultimately put you last.

518
00:22:47,480 --> 00:22:49,560
Speaker 5: Yes, don't even know how to add sex one hundred

519
00:22:49,560 --> 00:22:52,040
Speaker 5: percent agree and just pisses me off. I also think

520
00:22:52,080 --> 00:22:55,040
Speaker 5: that in my old marriage, as the person had worked

521
00:22:55,080 --> 00:22:58,640
Speaker 5: all the time for me, it was so stressful thinking

522
00:22:59,000 --> 00:23:01,160
Speaker 5: that if I lost my job, my business went under,

523
00:23:01,840 --> 00:23:05,320
Speaker 5: our family screwed. I would want my partner to contribute

524
00:23:05,560 --> 00:23:07,600
Speaker 5: financially if they can do you know what I mean.

525
00:23:08,560 --> 00:23:11,480
Speaker 5: Pressure was for the first three years, stay home, look

526
00:23:11,520 --> 00:23:14,120
Speaker 5: after the kids, which I'm not saying lightly at all

527
00:23:14,720 --> 00:23:15,200
Speaker 5: right now.

528
00:23:15,080 --> 00:23:16,760
Speaker 4: It's a privilege and it's one that you could make

529
00:23:16,760 --> 00:23:18,840
Speaker 4: that decision of and that's sligh.

530
00:23:18,920 --> 00:23:20,679
Speaker 5: Yeah, But when I say stay home, I'm like, we

531
00:23:20,720 --> 00:23:24,080
Speaker 5: both know being that home parent is way harder than

532
00:23:24,080 --> 00:23:26,280
Speaker 5: being the parent that goes to work. So once the

533
00:23:26,320 --> 00:23:29,000
Speaker 5: kids got old enough, then contribute one hundred percent. But

534
00:23:29,560 --> 00:23:31,920
Speaker 5: if Maria quits work when we have a kid, she's

535
00:23:31,960 --> 00:23:33,120
Speaker 5: in trouble because I'm not going to.

536
00:23:34,560 --> 00:23:35,040
Speaker 2: Go work.

537
00:23:35,200 --> 00:23:37,560
Speaker 5: I need money, this kid needs I like it.

538
00:23:37,680 --> 00:23:38,400
Speaker 2: Yep, agreed.

539
00:23:39,119 --> 00:23:41,760
Speaker 4: I feel like it's about compromise, though, and I think

540
00:23:41,800 --> 00:23:44,640
Speaker 4: that we all have to make compromises. And I mean

541
00:23:45,000 --> 00:23:49,600
Speaker 4: traditionally that gender pay gap exists because the compromise was

542
00:23:49,640 --> 00:23:53,760
Speaker 4: always the stereotypical female would stay home and look after

543
00:23:53,800 --> 00:23:57,119
Speaker 4: the kids, right, But I guess women might not be

544
00:23:57,280 --> 00:23:59,600
Speaker 4: as aware of the gap as they could be. And

545
00:23:59,640 --> 00:24:02,280
Speaker 4: I think that sometimes we also bury our heads in

546
00:24:02,320 --> 00:24:06,800
Speaker 4: the sand when something exists but it doesn't directly impact us. So,

547
00:24:06,880 --> 00:24:09,520
Speaker 4: like the gender pay gap exists and it frustrates me

548
00:24:09,600 --> 00:24:12,800
Speaker 4: because I'm in that world all the time. But you know,

549
00:24:12,880 --> 00:24:15,159
Speaker 4: people in our community might step back and be like, oh,

550
00:24:15,200 --> 00:24:18,040
Speaker 4: I don't really see it. Like I earn eighty thousand dollars,

551
00:24:18,080 --> 00:24:19,600
Speaker 4: my husband earns eighty thousand dollars.

552
00:24:19,680 --> 00:24:21,800
Speaker 2: It's not really a thing anymore. You just go, you've

553
00:24:21,800 --> 00:24:22,200
Speaker 2: got your.

554
00:24:22,080 --> 00:24:24,399
Speaker 4: Blinkers on, because it's not actually about you, like it's

555
00:24:24,440 --> 00:24:26,800
Speaker 4: about the wider community. So I've written down a few

556
00:24:26,840 --> 00:24:30,679
Speaker 4: stats and according to data provided by the Australian Bureau

557
00:24:30,680 --> 00:24:35,240
Speaker 4: of Statistics, Australia's national pay gap is thirteen percent. I

558
00:24:35,280 --> 00:24:38,240
Speaker 4: think that's a lot because like on any investment, right,

559
00:24:38,280 --> 00:24:40,639
Speaker 4: I'm getting thirteen percent, that's pretty big dog return.

560
00:24:41,000 --> 00:24:41,680
Speaker 2: Like that's good.

561
00:24:42,359 --> 00:24:45,520
Speaker 4: But as of May twenty twenty three, the full time

562
00:24:45,640 --> 00:24:49,480
Speaker 4: adult average weekly ordinary time earnings across all industries and

563
00:24:49,520 --> 00:24:53,080
Speaker 4: occupations was nineteen hundred and thirty eight dollars and thirty

564
00:24:53,080 --> 00:24:56,960
Speaker 4: cents for men and sixteen hundred and eighty six dollars

565
00:24:57,000 --> 00:25:00,159
Speaker 4: for women. So for every dollar on average the a

566
00:25:00,200 --> 00:25:03,760
Speaker 4: man earns, a woman earns eighty seven cents, that's a

567
00:25:03,800 --> 00:25:06,280
Speaker 4: difference of two hundred and fifty two dollars and thirty

568
00:25:06,320 --> 00:25:09,639
Speaker 4: cents less than men each and every single week, and

569
00:25:09,640 --> 00:25:11,320
Speaker 4: over the course of one year, that adds up to

570
00:25:11,359 --> 00:25:15,640
Speaker 4: thirteen thousand dollars. Extrapolating that out, MO, if you were

571
00:25:15,640 --> 00:25:19,600
Speaker 4: in the privileged position of starting work, Let's pretend like

572
00:25:19,640 --> 00:25:22,200
Speaker 4: you start your first professional job. We're not talking about,

573
00:25:22,240 --> 00:25:25,000
Speaker 4: you know, being a big dog lawyer, but at eighteen

574
00:25:25,040 --> 00:25:28,240
Speaker 4: you start investing. If at eighteen you had invested that

575
00:25:28,400 --> 00:25:32,159
Speaker 4: money and you're investing thirteen thousand, one hundred and nineteen

576
00:25:32,200 --> 00:25:34,840
Speaker 4: dollars to strop it down to ten grand, because we're

577
00:25:34,840 --> 00:25:37,720
Speaker 4: being conservative again, because like I'm going to spend some

578
00:25:37,800 --> 00:25:40,879
Speaker 4: of my savings on coffee, that's more than six million

579
00:25:40,920 --> 00:25:44,479
Speaker 4: dollars in retirement, we're worse off. That is six million

580
00:25:44,640 --> 00:25:47,439
Speaker 4: reasons why we need to care. That is six million

581
00:25:47,480 --> 00:25:52,119
Speaker 4: reasons why that thirteen percent actually matters. Like we're not

582
00:25:52,320 --> 00:25:54,560
Speaker 4: talking here about you know, thirteen grand. I think a

583
00:25:54,600 --> 00:25:57,000
Speaker 4: lot of people go it's only thirteen grand, like getting

584
00:25:57,000 --> 00:25:59,120
Speaker 4: the grand schame of things. My husband earns that back

585
00:25:59,119 --> 00:26:01,720
Speaker 4: and like it doesn't even matter, Like literally, sit down,

586
00:26:02,119 --> 00:26:06,720
Speaker 4: because if women who were in that demographic of being

587
00:26:06,760 --> 00:26:10,399
Speaker 4: over fifty five had that knowledge, no one would be

588
00:26:10,480 --> 00:26:13,040
Speaker 4: going homeless at that point because they could absolutely pave

589
00:26:13,080 --> 00:26:15,360
Speaker 4: the way, even cut it in half. You don't even

590
00:26:15,359 --> 00:26:18,000
Speaker 4: need half, you don't even need a quarter to create that.

591
00:26:18,800 --> 00:26:21,720
Speaker 5: Why are we so complacent because like sometimes you hear

592
00:26:22,520 --> 00:26:24,720
Speaker 5: and I've seen a statistic that we're not going to

593
00:26:24,720 --> 00:26:26,720
Speaker 5: see equal pay for another one hundred and thirty two years.

594
00:26:26,760 --> 00:26:28,480
Speaker 2: Yeah, and it used to be one hundred and it's

595
00:26:28,520 --> 00:26:29,000
Speaker 2: getting worse.

596
00:26:29,040 --> 00:26:31,560
Speaker 5: It's getting worse every year. But why is it that

597
00:26:31,600 --> 00:26:34,240
Speaker 5: people would go, oh, yeah, we're getting better, Like it's okay,

598
00:26:34,280 --> 00:26:37,800
Speaker 5: because it's improving for us to asks for equal opportunity

599
00:26:37,800 --> 00:26:40,080
Speaker 5: and equal pay to a mail that's doing the same

600
00:26:40,119 --> 00:26:43,000
Speaker 5: fucking role as you. Is not asking if we can

601
00:26:43,080 --> 00:26:45,760
Speaker 5: be paid twenty percent more. It's not asking if we

602
00:26:45,800 --> 00:26:48,320
Speaker 5: could be gifted a house because we are women. We

603
00:26:48,359 --> 00:26:50,440
Speaker 5: are asking for equal rights.

604
00:26:50,600 --> 00:26:53,320
Speaker 4: How hard I want to work as hard as you like.

605
00:26:53,480 --> 00:26:56,320
Speaker 4: I don't want to do less and get more. I

606
00:26:56,400 --> 00:26:58,520
Speaker 4: want to do what you're doing and get paid the same.

607
00:26:58,560 --> 00:27:00,600
Speaker 4: But right now I'm doing what you're doing and getting

608
00:27:00,640 --> 00:27:01,240
Speaker 4: paid less.

609
00:27:01,480 --> 00:27:04,520
Speaker 5: Working twice is hard for half the opportunity.

610
00:27:03,920 --> 00:27:07,200
Speaker 4: Exactly, And I think that obviously, I'm mildly passionate about

611
00:27:07,200 --> 00:27:09,520
Speaker 4: the investment space because I can see it every day

612
00:27:09,560 --> 00:27:12,399
Speaker 4: in our community. How that puts women ahead, because you

613
00:27:12,440 --> 00:27:14,480
Speaker 4: don't have to earn millions, You don't even have to

614
00:27:14,520 --> 00:27:16,480
Speaker 4: earn more than one hundred thousand dollars to put yourself

615
00:27:16,520 --> 00:27:19,840
Speaker 4: in a financially secure position, Like you just need to

616
00:27:19,960 --> 00:27:22,960
Speaker 4: have the level of financial literacy gifted to you early

617
00:27:23,400 --> 00:27:25,480
Speaker 4: so that you know how to make decisions.

618
00:27:25,080 --> 00:27:27,040
Speaker 2: And you know how to put yourself first.

619
00:27:27,520 --> 00:27:29,320
Speaker 4: And you ask the question of like, why are we

620
00:27:29,359 --> 00:27:33,000
Speaker 4: so complacent because we as women have always been excluded

621
00:27:33,000 --> 00:27:36,359
Speaker 4: from the conversation. We are not smart enough. We you know,

622
00:27:36,440 --> 00:27:38,720
Speaker 4: don't need to worry about that. That's a man's job.

623
00:27:38,760 --> 00:27:41,240
Speaker 4: They're the ones that run the household income, They're the

624
00:27:41,240 --> 00:27:43,600
Speaker 4: ones that invest. It's not very sexy for a woman

625
00:27:43,680 --> 00:27:47,600
Speaker 4: to invest, but it is so flipping simple, Like if

626
00:27:47,640 --> 00:27:51,800
Speaker 4: you can just create a pathway to know, contribute a

627
00:27:51,840 --> 00:27:54,359
Speaker 4: couple of dollars a week, that is an investment in

628
00:27:54,400 --> 00:27:57,800
Speaker 4: your financial literacy. As your income increases or you come

629
00:27:57,840 --> 00:28:00,439
Speaker 4: across another fifty bucks, you can put it into that

630
00:28:00,520 --> 00:28:03,520
Speaker 4: investment and watch it grow. We don't live in a

631
00:28:03,520 --> 00:28:07,560
Speaker 4: world anymore where the minimum investment amounts are hundreds of dollars.

632
00:28:07,800 --> 00:28:10,159
Speaker 4: You can invest for as little as one cent, and

633
00:28:10,200 --> 00:28:12,560
Speaker 4: that's going to put you in the best possible position.

634
00:28:12,920 --> 00:28:14,440
Speaker 4: And I mean if you're in debt and you're listening

635
00:28:14,480 --> 00:28:16,680
Speaker 4: to this and you're like, oh, y, like that would

636
00:28:16,720 --> 00:28:19,400
Speaker 4: be so nice, But like, I don't think you understand.

637
00:28:19,440 --> 00:28:21,359
Speaker 4: We're in the middle of a cost of living crisis

638
00:28:21,400 --> 00:28:24,200
Speaker 4: and it's fucking hard to put food on the table.

639
00:28:24,640 --> 00:28:27,360
Speaker 4: You are doing the right thing, like, there's nothing shameful

640
00:28:27,480 --> 00:28:30,199
Speaker 4: or worrisome about that, But I still want you to

641
00:28:30,240 --> 00:28:33,240
Speaker 4: invest in understanding those concepts so that when you can

642
00:28:33,280 --> 00:28:35,560
Speaker 4: pick it up, it makes sense and works for you.

643
00:28:36,040 --> 00:28:38,640
Speaker 4: I think so many times when we feel like we are,

644
00:28:39,080 --> 00:28:41,160
Speaker 4: you know, not in our perfect position. How many times

645
00:28:41,200 --> 00:28:43,480
Speaker 4: have you heard people, especially women, say, yeah, I'll get

646
00:28:43,480 --> 00:28:45,320
Speaker 4: around to investing when I have a bit more cash,

647
00:28:45,400 --> 00:28:48,520
Speaker 4: or I'll get around to investing once I get out

648
00:28:48,520 --> 00:28:51,280
Speaker 4: of debt, or I'll get around to understanding that concept

649
00:28:51,320 --> 00:28:52,120
Speaker 4: once I'm ready.

650
00:28:52,920 --> 00:28:55,080
Speaker 2: Once you're ready, it's too late because you could have

651
00:28:55,080 --> 00:28:55,680
Speaker 2: been starting.

652
00:28:56,080 --> 00:29:00,320
Speaker 4: We deserve to give ourselves financial literacy, and that is free.

653
00:29:00,400 --> 00:29:02,480
Speaker 5: So I'll pose this to you. Yes, if I was

654
00:29:02,520 --> 00:29:04,680
Speaker 5: that person, I had that ten thousand dollars from that year,

655
00:29:04,760 --> 00:29:06,200
Speaker 5: where am I investing it? Oh?

656
00:29:06,200 --> 00:29:08,840
Speaker 4: Okay, So we'll take this offline because I'll actually tell you.

657
00:29:09,120 --> 00:29:11,360
Speaker 4: I mean, I would never tell you. That would be illegal.

658
00:29:11,400 --> 00:29:12,920
Speaker 5: But where someone start?

659
00:29:13,000 --> 00:29:14,920
Speaker 2: So it's about picking a platform.

660
00:29:15,080 --> 00:29:17,440
Speaker 5: Yes, so I've never invested in my life, right, and

661
00:29:17,480 --> 00:29:18,440
Speaker 5: that's because I don't know.

662
00:29:18,520 --> 00:29:19,920
Speaker 2: All right, Well, we'll go out of coffee after this,

663
00:29:20,640 --> 00:29:21,640
Speaker 2: but sit down.

664
00:29:21,720 --> 00:29:24,480
Speaker 5: But the answer to a people listening that I'm probably

665
00:29:24,520 --> 00:29:26,440
Speaker 5: in the same spot. So we invest.

666
00:29:26,680 --> 00:29:29,000
Speaker 4: So first I'll listen to my back to Basics of

667
00:29:29,080 --> 00:29:31,320
Speaker 4: investing one oh one series that I did a couple

668
00:29:31,320 --> 00:29:34,040
Speaker 4: of months ago, which will tell you exactly what it is.

669
00:29:34,080 --> 00:29:38,320
Speaker 4: But I think we get, especially as women, analysis, paralysis overpicking.

670
00:29:38,600 --> 00:29:40,880
Speaker 4: Immediately you go what do I invest in? And that's

671
00:29:40,960 --> 00:29:43,800
Speaker 4: not the question, mo, The question is how do I start?

672
00:29:44,360 --> 00:29:48,040
Speaker 4: You start by going, Okay, I know how much I

673
00:29:48,080 --> 00:29:50,080
Speaker 4: have to play with. It might be one cent, it

674
00:29:50,120 --> 00:29:51,880
Speaker 4: might be ten dollars. It might be one hundred dollars.

675
00:29:51,920 --> 00:29:53,720
Speaker 4: You might have got an inheritance and it's one hundred

676
00:29:53,760 --> 00:29:56,920
Speaker 4: thousand dollars. But we need a platform to invest in.

677
00:29:57,000 --> 00:29:59,400
Speaker 4: You can't just go down the shop and be like, hey, Vanguard,

678
00:29:59,440 --> 00:30:01,680
Speaker 4: can I please have this without like a third party.

679
00:30:01,960 --> 00:30:04,560
Speaker 4: I always explain it like going to the supermarket, like

680
00:30:04,600 --> 00:30:06,440
Speaker 4: you want to go by yogurt, Like you're going to

681
00:30:06,520 --> 00:30:08,960
Speaker 4: go to the third party and you're going to go

682
00:30:09,000 --> 00:30:11,440
Speaker 4: into the supermarket and purchase the yogurt from them. You're

683
00:30:11,440 --> 00:30:13,960
Speaker 4: not going to like go directly to the dairy. You're

684
00:30:13,960 --> 00:30:18,320
Speaker 4: gonna have a supermarket. So your investing platform is your supermarket,

685
00:30:18,600 --> 00:30:20,800
Speaker 4: and you need to pick an investing platform that makes

686
00:30:20,800 --> 00:30:24,440
Speaker 4: sense for you. So there are lots of investing platforms around.

687
00:30:24,600 --> 00:30:26,400
Speaker 4: One of the most popular ones at the moment is

688
00:30:26,400 --> 00:30:29,000
Speaker 4: self Wealth. But we then need to look at what

689
00:30:29,040 --> 00:30:30,960
Speaker 4: that can provide you with. So that can provide you

690
00:30:31,000 --> 00:30:34,720
Speaker 4: with direct access to everything, but they have a minimum

691
00:30:34,720 --> 00:30:37,040
Speaker 4: investment amount of five hundred dollars. So you might go

692
00:30:37,200 --> 00:30:39,280
Speaker 4: that doesn't work for me, and I go all right, well,

693
00:30:39,320 --> 00:30:41,640
Speaker 4: what other options could you look at? And you might

694
00:30:41,680 --> 00:30:44,040
Speaker 4: look at a platform like Shares's and you go well,

695
00:30:44,040 --> 00:30:45,480
Speaker 4: what can that give me access to?

696
00:30:45,800 --> 00:30:47,040
Speaker 2: What are they selling that shop?

697
00:30:47,120 --> 00:30:47,320
Speaker 1: Right?

698
00:30:47,360 --> 00:30:49,800
Speaker 4: And you go, well, actually, they don't just have Australian shares.

699
00:30:49,840 --> 00:30:52,800
Speaker 4: They give you access to Australian US and New Zealand

700
00:30:52,880 --> 00:30:55,760
Speaker 4: shares and they're growing still, there might be more stuff

701
00:30:55,760 --> 00:30:56,560
Speaker 4: on there in the future.

702
00:30:56,560 --> 00:30:59,160
Speaker 2: And you go, sounds pretty good. But what's a caveat?

703
00:30:59,240 --> 00:31:00,720
Speaker 2: Like how much money you do I need to start?

704
00:31:00,920 --> 00:31:03,800
Speaker 4: Well, Chasi's is one cent, so you kind of go, oh,

705
00:31:03,880 --> 00:31:07,239
Speaker 4: actually that becomes a little bit easier. And so I

706
00:31:07,280 --> 00:31:10,760
Speaker 4: would always start with what platform do I want to

707
00:31:10,800 --> 00:31:13,560
Speaker 4: download so that I can start playing or going to

708
00:31:13,600 --> 00:31:15,280
Speaker 4: the shops, because you can go to the shops and

709
00:31:15,320 --> 00:31:18,560
Speaker 4: not buy anything, right, So like downloading the platform is

710
00:31:18,640 --> 00:31:20,240
Speaker 4: kind of like going to the supermarket.

711
00:31:20,480 --> 00:31:22,320
Speaker 2: And if we step foot in the supermarket, we don't

712
00:31:22,320 --> 00:31:24,360
Speaker 2: actually have to buy anything. You might like go around

713
00:31:24,440 --> 00:31:27,240
Speaker 2: the grocery store and go their produce is not as fresh.

714
00:31:27,360 --> 00:31:30,040
Speaker 4: I mean, they're all selling the same stuff, but you

715
00:31:30,120 --> 00:31:33,360
Speaker 4: might just not like the user experience and you look around.

716
00:31:33,400 --> 00:31:35,920
Speaker 4: You might go, I actually prefer like a Wooli's over coals,

717
00:31:36,280 --> 00:31:38,600
Speaker 4: And that's fine, it's all personal preference. But we're picking

718
00:31:38,640 --> 00:31:41,560
Speaker 4: that platform after we've picked that platform, and we need

719
00:31:41,600 --> 00:31:43,320
Speaker 4: to have a really good think about like what type

720
00:31:43,320 --> 00:31:45,800
Speaker 4: of person am I? My real risky do I want

721
00:31:45,840 --> 00:31:48,719
Speaker 4: to buy like, you know, really risky like penny stocks,

722
00:31:48,720 --> 00:31:51,160
Speaker 4: which is a stock that doesn't have a lot of backing.

723
00:31:51,200 --> 00:31:53,960
Speaker 4: They're really dirt cheap, and a lot of people want

724
00:31:54,000 --> 00:31:56,440
Speaker 4: to invest in them or get a lot of joy

725
00:31:56,480 --> 00:31:59,400
Speaker 4: out of investing in them because it's kind of like gambling.

726
00:31:59,480 --> 00:32:00,880
Speaker 4: You get a little bit of a kick when you

727
00:32:00,920 --> 00:32:03,600
Speaker 4: pick a penny stock that goes well. I'm the type

728
00:32:03,600 --> 00:32:06,560
Speaker 4: of person who's really conservative when it comes to investment

729
00:32:06,600 --> 00:32:08,680
Speaker 4: because I don't like loss. Like when I look at

730
00:32:08,680 --> 00:32:10,840
Speaker 4: the risk reward scale, I go, oh, yeah, I could

731
00:32:10,880 --> 00:32:12,520
Speaker 4: get a lot more reward, but I'd just like to

732
00:32:12,520 --> 00:32:14,800
Speaker 4: sit in the middle and be happy and just you know,

733
00:32:14,960 --> 00:32:17,880
Speaker 4: have my standard returns over time. So I might say

734
00:32:18,320 --> 00:32:20,720
Speaker 4: that a standard blue chip stock, which is just a

735
00:32:20,760 --> 00:32:23,000
Speaker 4: stock that's been around for a long time. We're talking

736
00:32:23,480 --> 00:32:27,160
Speaker 4: you know, Woollies, Coals, BHP, all of those ones that

737
00:32:27,240 --> 00:32:29,120
Speaker 4: if you heard them on the teller, you go, yeah,

738
00:32:29,120 --> 00:32:30,360
Speaker 4: they're shares, full stop.

739
00:32:30,440 --> 00:32:33,000
Speaker 2: End of story. That's what I look at.

740
00:32:33,160 --> 00:32:35,080
Speaker 4: Or you might want something where you don't have to

741
00:32:35,120 --> 00:32:37,160
Speaker 4: manage it as much. You might want an ETF which

742
00:32:37,200 --> 00:32:40,080
Speaker 4: is an exchange traded fund, which is a bucket of shares,

743
00:32:40,120 --> 00:32:42,360
Speaker 4: so you don't have to make too many decisions. But

744
00:32:42,400 --> 00:32:44,280
Speaker 4: you go, that aligns to my values. I'm just going

745
00:32:44,360 --> 00:32:47,360
Speaker 4: to tip my money in there. So the question isn't

746
00:32:47,560 --> 00:32:50,640
Speaker 4: what do I invest in? It's what's the pathway to

747
00:32:50,680 --> 00:32:54,760
Speaker 4: get invested? And how do I? One get on that pathway?

748
00:32:54,800 --> 00:32:57,720
Speaker 4: But two where do I start? You start with a platform,

749
00:32:57,760 --> 00:32:59,360
Speaker 4: then you think about who you are and what you

750
00:32:59,400 --> 00:33:01,520
Speaker 4: want to invest, and then you might play on the

751
00:33:01,520 --> 00:33:05,000
Speaker 4: platform a little while and see what it's actually like.

752
00:33:05,640 --> 00:33:07,440
Speaker 4: You know, you might track a few stocks for a

753
00:33:07,440 --> 00:33:09,240
Speaker 4: few months before even biting the bullet.

754
00:33:09,600 --> 00:33:09,719
Speaker 2: Like.

755
00:33:09,800 --> 00:33:13,000
Speaker 4: All of that is fine, but it's about that level

756
00:33:13,000 --> 00:33:16,040
Speaker 4: of financial literacy because I think people immediately want to go, well,

757
00:33:16,040 --> 00:33:18,080
Speaker 4: where do I put all my money? And if you

758
00:33:18,240 --> 00:33:21,680
Speaker 4: do that first, the second that the market dips even

759
00:33:21,760 --> 00:33:24,280
Speaker 4: for a minute, you're gonna ship bricks and you're.

760
00:33:24,120 --> 00:33:26,040
Speaker 2: Going to go, am I doing the right thing? What's

761
00:33:26,080 --> 00:33:29,400
Speaker 2: going on? Whereas if we work backwards, it's going to

762
00:33:29,480 --> 00:33:31,360
Speaker 2: dip and you go, I've seen this happen before.

763
00:33:31,640 --> 00:33:35,520
Speaker 4: This happens often because over your lifetime mo the market

764
00:33:35,560 --> 00:33:38,760
Speaker 4: is essentially going to crash seven times, and we need

765
00:33:38,800 --> 00:33:41,840
Speaker 4: to be prepared mentally for that because to me, money

766
00:33:41,920 --> 00:33:45,360
Speaker 4: is more psychological than it is physical. Like if I

767
00:33:45,520 --> 00:33:47,840
Speaker 4: tell you you know these two bucks, you'll be like whatever.

768
00:33:48,360 --> 00:33:50,600
Speaker 4: But if you then, over the last ten years had

769
00:33:50,600 --> 00:33:52,720
Speaker 4: been investing in a share portfolio, and I go, you

770
00:33:52,760 --> 00:33:56,440
Speaker 4: could lose half of that, that's not okay, Like you're

771
00:33:56,440 --> 00:33:57,840
Speaker 4: not going to agree to that. You're not going to

772
00:33:57,880 --> 00:34:01,360
Speaker 4: consent to that. But if you knew what the market

773
00:34:01,400 --> 00:34:03,600
Speaker 4: was doing and that it would recover, and you're going

774
00:34:03,640 --> 00:34:05,920
Speaker 4: to go through these things every seven years, and you've

775
00:34:05,920 --> 00:34:07,800
Speaker 4: got you know, someone like me on your team who

776
00:34:07,800 --> 00:34:10,319
Speaker 4: can go mote, it's the market. It's this like when

777
00:34:10,320 --> 00:34:12,400
Speaker 4: in doubt, zoom out, Like let's look at the bigger picture.

778
00:34:12,440 --> 00:34:14,640
Speaker 4: You can be like, all right, I see that it's down,

779
00:34:15,080 --> 00:34:18,120
Speaker 4: but I also see I still own every single share

780
00:34:18,160 --> 00:34:20,800
Speaker 4: that I purchased. I actually haven't lost anything. I'll only

781
00:34:20,880 --> 00:34:23,000
Speaker 4: lose something if I sell the shares for what they're

782
00:34:23,000 --> 00:34:23,560
Speaker 4: worth today.

783
00:34:23,800 --> 00:34:25,080
Speaker 2: But I'm not going to do that and get a

784
00:34:25,120 --> 00:34:27,399
Speaker 2: hold on for the long term. Does that make sense?

785
00:34:27,480 --> 00:34:30,600
Speaker 5: Makes sense? You're really good at making it accessible just because.

786
00:34:30,480 --> 00:34:32,960
Speaker 4: We use examples like going to the supermarket. Because you know,

787
00:34:33,000 --> 00:34:35,800
Speaker 4: when some people don't about have to make it complex.

788
00:34:35,400 --> 00:34:37,319
Speaker 5: They make it sound like they're giving a lecture at

789
00:34:37,320 --> 00:34:39,200
Speaker 5: a university and you just don't get it.

790
00:34:39,440 --> 00:34:41,360
Speaker 2: Well, it's not you don't get it, you just don't care.

791
00:34:41,960 --> 00:34:44,240
Speaker 5: Well you tune out because you just don't understand it enough.

792
00:34:44,920 --> 00:34:47,400
Speaker 4: And do you know what, I think that people do

793
00:34:47,480 --> 00:34:50,160
Speaker 4: that on purpose to justify their roles. I think they

794
00:34:50,200 --> 00:34:54,479
Speaker 4: do it on purpose to justify high fees and make

795
00:34:54,560 --> 00:34:57,680
Speaker 4: themselves feel better about the fact that they're so smart.

796
00:34:58,320 --> 00:35:00,759
Speaker 2: Like I don't believe.

797
00:35:00,280 --> 00:35:03,719
Speaker 4: That intelligence is linked to, you know, being a good investor.

798
00:35:04,480 --> 00:35:07,040
Speaker 4: Like some of the best investors that I had as

799
00:35:07,120 --> 00:35:09,880
Speaker 4: clients when I was a financial advisor just moms and

800
00:35:09,960 --> 00:35:13,200
Speaker 4: dads who were just consistent. Some of the worst investors

801
00:35:13,640 --> 00:35:15,239
Speaker 4: were the ones that came to me and they had

802
00:35:15,280 --> 00:35:17,600
Speaker 4: super high incomes and they're really aggressive and they wanted

803
00:35:17,640 --> 00:35:20,239
Speaker 4: to tell all their friends about what they owned. And

804
00:35:20,239 --> 00:35:22,279
Speaker 4: then as a financial advisor, I'd sit down and be like,

805
00:35:22,280 --> 00:35:25,000
Speaker 4: why have you done this? Like it was such a

806
00:35:25,120 --> 00:35:28,319
Speaker 4: boys club mentality and like I slipped into having a

807
00:35:28,360 --> 00:35:31,600
Speaker 4: number of clients who were male footballers in the AFL

808
00:35:32,000 --> 00:35:35,000
Speaker 4: and it was such a wank mo. They'd be like, oh, well,

809
00:35:35,040 --> 00:35:37,160
Speaker 4: can you construct my portfolio? My friends got this, this

810
00:35:37,239 --> 00:35:37,680
Speaker 4: and this, and.

811
00:35:37,600 --> 00:35:39,399
Speaker 2: I'd be like, I don't know why they have that,

812
00:35:39,960 --> 00:35:41,040
Speaker 2: it makes no sense.

813
00:35:41,360 --> 00:35:42,920
Speaker 4: Well that's what I want because they've got it and

814
00:35:42,960 --> 00:35:45,440
Speaker 4: they got really good return. I'm like, you don't understand

815
00:35:46,160 --> 00:35:49,520
Speaker 4: that the reality of this is, you know you have

816
00:35:49,600 --> 00:35:52,200
Speaker 4: worked in football. For me, we need to make hay

817
00:35:52,239 --> 00:35:53,960
Speaker 4: while the sun shining, because you're not always going to

818
00:35:53,960 --> 00:35:54,880
Speaker 4: earn what you're earning.

819
00:35:55,280 --> 00:35:57,279
Speaker 2: All right, let's wrap this up.

820
00:35:57,400 --> 00:36:00,680
Speaker 4: You have two beautiful kids, Spha and a he, and

821
00:36:00,960 --> 00:36:03,719
Speaker 4: you are so well balanced and I feel like you're

822
00:36:03,760 --> 00:36:06,439
Speaker 4: really taking charge of your financial future at this point.

823
00:36:06,480 --> 00:36:07,799
Speaker 4: I know you and I have had a lot of

824
00:36:07,840 --> 00:36:11,319
Speaker 4: conversations about money, about what you want to do in

825
00:36:11,360 --> 00:36:13,719
Speaker 4: the future and where that's going. But how are you

826
00:36:13,840 --> 00:36:17,160
Speaker 4: talking to them about money? Like how are they starting

827
00:36:17,200 --> 00:36:19,799
Speaker 4: to go, oh, that makes sense? And I'm assuming they're

828
00:36:19,840 --> 00:36:23,040
Speaker 4: probably not because a money story really starts at seven,

829
00:36:23,719 --> 00:36:28,200
Speaker 4: because they're too young to conceptualize it beforehand. But what

830
00:36:28,320 --> 00:36:30,000
Speaker 4: does that look like for you? Like, how are you

831
00:36:30,080 --> 00:36:32,000
Speaker 4: going to introduce money to your kids.

832
00:36:32,360 --> 00:36:35,200
Speaker 5: I changed. I did something wrong at the start, and

833
00:36:35,440 --> 00:36:38,120
Speaker 5: I think I'm much better at it now. As a kid,

834
00:36:38,200 --> 00:36:42,320
Speaker 5: I've mentioned I had nothing, and so for my daughter, particularly,

835
00:36:42,360 --> 00:36:44,520
Speaker 5: what I would do is just whatever you want, babe,

836
00:36:44,560 --> 00:36:45,840
Speaker 5: I'll buy it for you.

837
00:36:45,840 --> 00:36:46,960
Speaker 2: Go to shop, I get it.

838
00:36:47,040 --> 00:36:49,000
Speaker 5: You want five of those? Go get them? Do you

839
00:36:49,080 --> 00:36:50,040
Speaker 5: know every shop? What do you want?

840
00:36:50,080 --> 00:36:50,319
Speaker 1: They have?

841
00:36:50,320 --> 00:36:52,520
Speaker 5: No problem, I'll get it for you want to buy? Done.

842
00:36:53,080 --> 00:36:55,560
Speaker 5: And I'm not trying to sound arrogant with money. It's

843
00:36:55,600 --> 00:36:58,480
Speaker 5: just that I didn't want that to happen to my kid.

844
00:36:58,560 --> 00:37:01,279
Speaker 5: But I learned all I needed with my kid in

845
00:37:01,320 --> 00:37:05,640
Speaker 5: those moments is memories, right, and memories are not made

846
00:37:05,800 --> 00:37:08,239
Speaker 5: by things made of money. I grew up with a

847
00:37:08,280 --> 00:37:10,800
Speaker 5: lot of memories and a lot of them didn't involve money.

848
00:37:11,160 --> 00:37:14,400
Speaker 5: So I learned financially pretty quickly, and I knew that

849
00:37:14,440 --> 00:37:17,360
Speaker 5: it was triggered by my childhood. And once I learned

850
00:37:17,360 --> 00:37:20,200
Speaker 5: that for me, you know, all of our adventures of

851
00:37:20,280 --> 00:37:22,959
Speaker 5: my kids, majority of time we're outdoors at a park

852
00:37:23,040 --> 00:37:25,680
Speaker 5: that's free, you know, not spending money on everything. Just

853
00:37:25,719 --> 00:37:29,040
Speaker 5: so that they understand. So I think, yeah, they're probably

854
00:37:29,040 --> 00:37:31,239
Speaker 5: still a bit young, but it's like little things like

855
00:37:31,280 --> 00:37:33,759
Speaker 5: that that I'm being able to teach them that I

856
00:37:33,760 --> 00:37:35,040
Speaker 5: think is going to make a difference.

857
00:37:35,400 --> 00:37:37,440
Speaker 2: Yeah, No, I love it. I do think that's all

858
00:37:37,480 --> 00:37:38,560
Speaker 2: we have time for today.

859
00:37:38,600 --> 00:37:38,680
Speaker 1: Mo.

860
00:37:39,040 --> 00:37:41,600
Speaker 4: This is not the last time I'm going to get

861
00:37:41,600 --> 00:37:42,719
Speaker 4: you on my podcast though.

862
00:37:42,760 --> 00:37:44,279
Speaker 2: We have so much to talk about, so.

863
00:37:44,320 --> 00:37:47,120
Speaker 4: Much to do, And I just know that our community

864
00:37:47,120 --> 00:37:49,080
Speaker 4: are going to listen to this and adore it. I

865
00:37:49,120 --> 00:37:51,040
Speaker 4: hope they share it with friends. I hope they share

866
00:37:51,080 --> 00:37:53,080
Speaker 4: it with family and just go. You need to listen

867
00:37:53,120 --> 00:37:57,399
Speaker 4: to this conversation. Mo is inspirational and empowering and knows

868
00:37:57,400 --> 00:37:59,640
Speaker 4: tho shit like you stand up for what you believe in,

869
00:37:59,719 --> 00:38:02,200
Speaker 4: and I think that that's what all the good Eggs

870
00:38:02,200 --> 00:38:04,839
Speaker 4: in the entire world do. So thank you for joining us.

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Speaker 4: Has been an absolute pleasure.

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Speaker 5: Pleasures online. Thank you for having me.

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Speaker 4: The advice shared on She's on the Money is general

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00:38:17,840 --> 00:38:21,680
Speaker 4: in nature and does not consider your individual circumstances. She's

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00:38:21,719 --> 00:38:25,200
Speaker 4: on the Money exists purely for educational purposes and should

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00:38:25,200 --> 00:38:28,400
Speaker 4: not be relied upon to make an investment or financial decision.

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00:38:28,760 --> 00:38:31,239
Speaker 4: If you do choose to buy a financial product, read

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Speaker 4: the PDS TMD and obtain appropriate financial advice tailored towards

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Speaker 4: your needs. Victoria divine and She's on the money are

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Speaker 4: authorized representatives of money. Sheper pty Ltd ABN three two

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Speaker 4: one is six four nine two seven seven zero eight

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Speaker 4: AFSL four five one two eight nine