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Speaker 1: She's on the Money. She's on the Money.

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Speaker 2: Hello, and welcome to She's on the Money, the podcast

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Speaker 2: for millennials who want financial freedom. Welcome to another one

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Speaker 2: of our Friday Drinks episodes where we get to celebrate

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Speaker 2: the wins from our She's on the Money community. As always,

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Speaker 2: there are so many great money wins and confessions that

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Speaker 2: I shared in our community each and every single week,

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Speaker 2: and George and I this week have been pouring over

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Speaker 2: each and every single thing you guys have shared. This

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Speaker 2: episode is for you. We are celebrating you. But before

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Speaker 2: we get into it, welcome Georgia King to your very

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Speaker 2: own podcast.

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Speaker 3: We're here, We're doing it. It's fun and we're ready.

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Speaker 3: Except there is one notable absence. The gorgeous Jessicarcci is

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Speaker 3: home in bed.

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Speaker 2: Home in bed with the spassic cough.

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Speaker 3: With the spicy cough. I had it last week, she

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Speaker 3: has it this week.

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Speaker 2: I haven't gotten it. Running at each other.

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Speaker 3: No, I haven't seen her in many months.

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Speaker 2: I feel un Australian having not had the spicy cough yet.

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Speaker 3: I'm sure it's coming your way down. I'm just not

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Speaker 3: social enough yet. I'm just lighing in wait get yourself

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Speaker 3: to a New Year's Eve festival. That's what I did.

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Speaker 2: And here, Ah, that just feels like you were asking

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Speaker 2: for it, Georgia, kid, Maybe I was. Anyway, it was coming.

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Speaker 4: It's good to be here. Though we're back.

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Speaker 2: I feel like this episode is going to be a

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Speaker 2: bit of a wild one. Couple of reasons, George. One,

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Speaker 2: Jess isn't here to keep us on track and make

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Speaker 2: sure that we do the right thing, because she's the

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Speaker 2: one that's always like Victoria, stop saying that, or Georgia,

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Speaker 2: get on with it, like she's not here to keep

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Speaker 2: us in line. But two, George, you weren't on either

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Speaker 2: of the podcasts this week. Just drinks you're rolling on

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Speaker 2: in correct, You wouldn't know what went on. So I

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Speaker 2: feel like it's my job to tell you what we

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Speaker 2: did this week.

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Speaker 3: Precisely, I have very little to contribute today, so strap

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Speaker 3: yourselves in. It's going to be an absolute corker. No,

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Speaker 3: do tell me what went on on. Let's start with Monday.

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Speaker 3: It makes sense what happened on Money Diaries this week?

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Speaker 3: All right?

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Speaker 2: So on Monday we smoke to an absolutely gorgeous Money

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Speaker 2: diarist who actually has been in our DMS for a

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Speaker 2: very long time, Like I have seen her name come

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Speaker 2: up a million times. She has a company called Dispense.

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Speaker 2: They make like those hand sanitizer like automated container things, yep,

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Speaker 2: and I bought some and I adore them. She's probably

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Speaker 2: not going to be happy that I put fake tan

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Speaker 2: in one and now it like self phoned my fake tan.

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Speaker 2: But I think I'm a genius and like genuinely, like

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Speaker 2: the second it started self foaming, I was like, I

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Speaker 2: know what I can use this for, because now I

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Speaker 2: don't have to like pick up the bottle of fake

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Speaker 2: tan and like pump it onto my meat. I just

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Speaker 2: put my little mit under its mit dispenser and it goes.

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Speaker 2: That is anyway, that's not what her product is for.

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Speaker 2: You can put sanitizer or hand wash in it, or

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Speaker 2: if you're Victoria, you will just put your fake tan

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Speaker 2: in it and yolow. But her story was epic. She

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Speaker 2: talked about her parents who came to Australia as immigrants

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Speaker 2: and started from absolute scratch, and she's worked her way

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Speaker 2: through life as well. And George, she recently, as in

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Speaker 2: twelve months ago, found herself in the position where her

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Speaker 2: boss said, you've been doing a great job, here's pay rice,

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Speaker 2: here's a promotion, and the next week got made redundant.

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Speaker 2: What a roller coaster. Anyway, she has gone from being

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Speaker 2: in that situation to being made redundant and having no

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Speaker 2: idea what was going on, to creating her own small

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Speaker 2: business dispense and now she told us she's made more

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Speaker 2: than seventy five thousand dollars in that company already, So

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Speaker 2: clearly she's doing really well.

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Speaker 3: She's obviously a very clever cookiev because you know, we're

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Speaker 3: in the middle of a pandemic.

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Speaker 4: What do we need.

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Speaker 3: We need sanitizer holders, and we need fake ten dispensers.

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Speaker 2: Okay, so it's not a fake ten dispair And I'm

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Speaker 2: semi regretting saying that, although this could be revolutionary for

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Speaker 2: her product, I'm gonna pitch it to her. Ye genuinely,

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Speaker 2: I'm not here to sell it to you, George, because

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Speaker 2: it's not sponsored, and it wasn't sponsored, And the product

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Speaker 2: I got I literally bought with my own money purely

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Speaker 2: because I wanted her product. They're real sleek, like they

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Speaker 2: look really sleek on your bench. So I have one

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Speaker 2: beside the front door that actually has the hand sanitizer

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Speaker 2: that came with the product in it, and the other one,

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Speaker 2: which is meant to have a gorgeous French vanilla and

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Speaker 2: paar hand wash in it, that's full of faint hand gotcha, gotcha,

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Speaker 2: You're welcome. Don't mix them up because that could be

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Speaker 2: an awkward, sanitizing situation.

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Speaker 4: I love that. I can't wait to listen. Tell me

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Speaker 4: about Wednesday's show.

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Speaker 2: Oh, Wednesday's show, George. Honestly, am I allowed to say

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Speaker 2: shit show? Is that a thing think you can do?

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Speaker 2: I have to mark the episode as like being censored.

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Speaker 2: I'm gonna say it's a cleaner Yeah, explicit content. But

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Speaker 2: that's how we're gonna describe Wednesday's episode, not cause the

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Speaker 2: content was that, George, but because Miss Jessica Ricci and

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Speaker 2: I we sat down to record that episode, and I

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Speaker 2: was so excited about it because this year we've decided

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Speaker 2: to focus more on investment and really taking She's on

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Speaker 2: the Money to the next level, and you know, having

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Speaker 2: these deep dive discussions that just make sense about shares

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Speaker 2: and ETFs and investing and different platforms and different strategies

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Speaker 2: and what it means. And I'm honestly this is where

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Speaker 2: I thrive. So I'm finally in a situation where I'm like,

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Speaker 2: you know what she's on. The Money's content has covered

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Speaker 2: more than enough to be a good base foundational amount

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Speaker 2: of knowledge. We can like start stepping it up now.

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Speaker 2: So if you haven't listened to all our old episodes

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Speaker 2: and you're looking at our investing ones and you're like,

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Speaker 2: I'm not ready for that, just go back to the

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Speaker 2: old ones and have a listened to that. We actually

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Speaker 2: did a really great I'm obviously biased, George, but really

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Speaker 2: great mini investments series covering everything you need to know

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Speaker 2: when it comes to the basics of ETFs and shares

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Speaker 2: and the different asset classes that exist and what that means.

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Speaker 2: And I would go and have a listen to those first.

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Speaker 2: In fact, even if you've already heard them, probably a

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Speaker 2: good time to do a bit of a fresher anyway.

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Speaker 2: But as you can hear, I'm very excited about this content.

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Speaker 2: So Jess and I we sit down and we record

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Speaker 2: an entire episode George on the top performing ETFs of

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Speaker 2: twenty twenty one, So like incredible who returned the most

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Speaker 2: what it meant, And Jess was like super excited about it,

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Speaker 2: really interested because obviously Jess in the last few months

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Speaker 2: has gotten really into investing and like buying her own ets.

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Speaker 2: And it turns out, George, I didn't have my microphone on.

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Speaker 4: Are you absolute pest? Yeah, you've done it to me before.

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Speaker 4: It's not my feal.

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Speaker 2: It was literally the worst.

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Speaker 4: When did you realize?

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Speaker 2: Sam our editor was like, have you heard this? And

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Speaker 2: I was like, no, because it turns out my microphone

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Speaker 2: wasn't on. And I do have a pretty fancy microphone

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Speaker 2: set up at home that I'm very proud of. And

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Speaker 2: he was like, do you know that that entire thing

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Speaker 2: was recorded on the microphone of your like really trashy webcam?

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Speaker 2: Oh no, no I didn't. I was like, can you

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Speaker 2: save it? And he sent me like a snippet of

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Speaker 2: the audio and that was absolute trash and I was like,

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Speaker 2: we're going to have to do it again, called Jess, George,

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Speaker 2: Jess's got the spicy cough so I can recall with her,

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Speaker 2: and you had the spicy cough so I couldn't recall

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Speaker 2: with her. And Sam was like, your community have no

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Speaker 2: idea who I am, but I'll be on your episode.

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Speaker 2: And I was like, Sam, I love you, come on this.

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Speaker 2: She's on the Money Podcast, and so our producer Sam,

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Speaker 2: he co hosted that episode, did a stella job. We

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Speaker 2: love you, Sam, thank you so much for that. But

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Speaker 2: that episode did end up happening. We did talk about

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Speaker 2: the top five performing ATFS. I did it for the

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Speaker 2: second time, Sam did it for the first time, and

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Speaker 2: I reckon I got a good enough amount of practice

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Speaker 2: for it to be a really good episode exactly.

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Speaker 3: And you said that that was a really popular episode, right,

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Speaker 3: People were really wanting to hear about that, Like.

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Speaker 2: You guys have been craving more investment topics and already

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Speaker 2: I've had so many d so people being like, oh

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Speaker 2: my gosh, more content like this. I really liked understanding

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Speaker 2: why things perform the way that they do, because in

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Speaker 2: that episode, we didn't just talk about like, hey, George,

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Speaker 2: this ETF was number one and you go cool, b

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Speaker 2: We really talked about the intricacies of the market and

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Speaker 2: what it means for it to perform and maybe why

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Speaker 2: that ETF performed in the way that it did. Because George,

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Speaker 2: a couple of the ETFs on the list kind of

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Speaker 2: made sense when you started to talk about the state

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Speaker 2: of the world. Right, So one of them was a

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Speaker 2: crude oil Index, which is kind of like fuel and

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Speaker 2: we know that that's quite popular at the moment. Countries

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Speaker 2: are really snapping that up to maintain safety and so

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Speaker 2: that they can still be productive and all of that.

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Speaker 2: A global cybersecurity one was on there, and there was

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Speaker 2: a global tech one as well, and you go, okay, cool,

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Speaker 2: like that makes sense. So it was very fun to

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Speaker 2: talk through what that was and why they performed. But

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Speaker 2: also on the flip side of that, you might be thinking,

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Speaker 2: oh my gosh, like I might pick shares based on

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Speaker 2: what the top performing ones were. Like A really good

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Speaker 2: point that Sam brought up was like, I've edited your

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Speaker 2: content for a long time. I know you pretty well.

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Speaker 2: I don't think you would pick these ATF And I

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Speaker 2: was like, no, it's definitely against my ethics and my

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Speaker 2: values and what I actually want from an ETF and

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Speaker 2: from an investment. So it's interesting to see that even

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Speaker 2: though they perform well, I definitely wouldn't have picked it

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Speaker 2: and still won't pick it into the future. So it

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Speaker 2: was just a good conversation about values and goals and

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Speaker 2: what these ETFs want to do and how they diversified

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Speaker 2: because I think as well, obviously go listen to the episode,

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Speaker 2: really passionate about this. But an ETF, I think has

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Speaker 2: this common misconception in our community that any ETF is

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Speaker 2: automatically diversified, and that is true, but it's not diversified

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Speaker 2: across the entire market. It might be diversified across a

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Speaker 2: particular sector, so for example, that crude oil ETF only

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Speaker 2: buys crude oil companies, so it might be diversified across

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Speaker 2: that small sector, but when it comes to the bigger marketplace,

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Speaker 2: it's not like a Nasdaq Top one hundred ETF where

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Speaker 2: they have just the top one hundred companies. So it

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Speaker 2: was honestly really interesting episode. And I was telling you earlier, George,

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Speaker 2: that we're going to do another one very soon on

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Speaker 2: the top five performing individual shares, because that's also a

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Speaker 2: very interesting conversation to have. But yes, if you guys

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Speaker 2: have any specific investment topics you want us to cover,

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Speaker 2: slide on into our DMS. My friends, let us know.

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Speaker 3: Oh that's so exciting. I'm so excited for the community

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Speaker 3: and for us. I guess that we're now at this

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Speaker 3: place where we're not just explaining what things are, but

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Speaker 3: we're reflecting on what they actually are. Like on a

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Speaker 3: global scale. Does that make sense? Like it's We've come

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Speaker 3: so far.

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Speaker 2: Yeah, Oh my gosh, George, I cannot tell you. I

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Speaker 2: remember when we made the first twelve episodes of She's

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Speaker 2: on the Money, Like that She's on the Money podcast

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Speaker 2: was only meant to be twelve episodes. We nearly had

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Speaker 2: two hundred and fifty, George, Like, never in my wildest

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Speaker 2: dreams did I think that I get to sit here

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Speaker 2: and talk about investment all day and do research for

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Speaker 2: these episodes and have really wholesome conversations about our and

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Speaker 2: our goals and our values. Like I am still shook

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Speaker 2: that this is my career, George, Like, I love it.

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Speaker 2: I'm so excited. Anyway, She's blessed, She's blessed.

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Speaker 4: Let's be great. Yeah.

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Speaker 2: My favorite thing, though, is the community. As you know, George,

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Speaker 2: So let's recap. We obviously had the money win thread

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Speaker 2: and it's been a while since you've shouted out your

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Speaker 2: favorite money wins from the community. So, George, what have

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Speaker 2: you got for us this week?

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Speaker 4: Okay?

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Speaker 3: I have some absolute belters as always. My first win

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Speaker 3: is from the lovely bree so Shybrey, young nineteen year

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Speaker 3: old student who was a shopaholic last year when we

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Speaker 3: all she spent in excess of fourteen thousand dollars shopping,

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Speaker 3: nights out and takeaway food. So a little bit of

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Speaker 3: money loss in twenty twenty one.

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Speaker 2: That's a lot of money.

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Speaker 3: But we've all been there, George, we have all been there.

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Speaker 3: But the good news is she started out this year

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Speaker 3: by working out a budget for each month, explaining exactly

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Speaker 3: how much she's allowed to spend on what she needs

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Speaker 3: and what she wants. This week she paid her rent

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Speaker 3: and groceries, and beyond that she did not spend a dime,

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Speaker 3: and then she chacked everyone in the community for all

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Speaker 3: the supports.

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Speaker 4: So amazing.

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Speaker 2: I love that, and I love that you guys all

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Speaker 2: support each other to achieve a goal, and that not

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Speaker 2: only do you support it until it's achieved, we then

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Speaker 2: like get to celebrate together. Like I cannot tell you

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Speaker 2: how wholesome it is. Every day I read through that

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Speaker 2: thread because you guys always update the thread and there's

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Speaker 2: always new comments of things that you guys are winning at.

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Speaker 2: And it could be really small, like I saw the

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Speaker 2: other day someone was like, I went to Colls and

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Speaker 2: there was a big am on sale and I wasn't

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Speaker 2: gonna buy one, but money win. I'm like, yes, Queen,

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Speaker 2: Like I love that we're celebrating the small things. But

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Speaker 2: then people are also commenting really big things like I

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Speaker 2: got out of personal debt I've been in it for

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Speaker 2: ten years, or I finally paid off my car loan,

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Speaker 2: or I've saved up enough to go on the holiday

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Speaker 2: of my dreams, or I'm in a situation that I

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Speaker 2: never thought I would be in before. Like it just

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Speaker 2: it's a cool thread that it doesn't matter what you

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Speaker 2: win is how big it is or how small it is,

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Speaker 2: like we've got you back.

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Speaker 3: Exactly, we're celebrating them all. Let's move on V to

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Speaker 3: a couple of insurancy wins sexy I know. The first

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Speaker 3: one is from Jess, so she had to pay her

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Speaker 3: car insurance. She was quoted nearly seven hundred dollars for

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Speaker 3: renewal of her current third party insurance. Then she did

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Speaker 3: a quote online with Amy and it was five seventy

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Speaker 3: so that's pretty okay. But then and to her friend

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Speaker 3: who somehow got involved and redid the quote, got a

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Speaker 3: special deal. Not sure how she got it down to

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Speaker 3: two hundred and twenty dollars. Sorry, what, Yeah, what's being

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Speaker 3: insured here? But it's impressive.

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Speaker 2: We hope that it's got the same level of insurance. Obviously,

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Speaker 2: when we read these sometimes you're like, we don't comprehend,

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Speaker 2: Like we're happy for you, but like, hopefully you're still protected.

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Speaker 3: There's more to this story though. Her work gave her

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Speaker 3: an eighty dollar voucher, which she she put towards her

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Speaker 3: insurance as well, so in the end she paid one

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Speaker 3: hundred and forty five dollary dues instead of seven hundred. Hello, gorgeous, that.

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Speaker 2: Is a very big money win. I appreciate that massively.

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Speaker 3: Thank you so good, Well done, Jess. The next one

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Speaker 3: is from ash So she changed her address on her

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Speaker 3: car insurance policy to her new address and received a

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Speaker 3: refund of two hundred and ninety four dollars.

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Speaker 4: What Yeah, who would.

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Speaker 2: Have thought you would get a refund? Like I thought

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Speaker 2: they'd just snamp up the money and not mention it.

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Speaker 2: You'd be like, thanks for updating my dates. I didn't

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Speaker 2: think that was a thing.

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Speaker 3: Why is that a thing? V just because some areas

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Speaker 3: amabe a safer.

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Speaker 2: Yeah, it would be a thing because you know, regional

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Speaker 2: versus metro, or some areas are categorized as more likely

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Speaker 2: to have crime or more likely to have on street

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Speaker 2: bingals like, it's all based on risk.

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Speaker 4: Yeah, gotcha makes sense. So it makes sense.

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Speaker 2: But I I didn't think they're refunder Yeah, but that's

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Speaker 2: a good money win.

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Speaker 3: The next this one here is from Star. So this year,

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Speaker 3: she said to a friend, they are having a nothing

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Speaker 3: new year, so they are going to source everything secondhand

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Speaker 3: unless it's absolutely essential they buy a brand new like

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Speaker 3: a feminine hygiene.

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Speaker 4: Product for example.

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Speaker 2: That seems quite reasonable here, I think.

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Speaker 3: So this week alone she saved over eighty dollars on

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Speaker 3: buying perfectly good second hand items, good for the environment,

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Speaker 3: and good for the bank account.

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Speaker 2: Well, legend Star Star is.

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Speaker 4: A good star, George E.

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Speaker 2: I'm gonna see myself out.

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Speaker 3: Nadenv has a short and sweet money win. Her six

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Speaker 3: year old is at his grandparents place for the week,

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Speaker 3: so she doesn't have to feed him. Apparently children are

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Speaker 3: very hungry, so that's a good result.

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Speaker 2: That is a great result. That's not just the money win.

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Speaker 2: But like what I heard was you have a child

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Speaker 2: free week, my friend the dream.

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Speaker 4: I hope she's heading to some yoga sessions in the

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Speaker 4: living room between women who have child free lives.

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Speaker 2: We get it.

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Speaker 4: Welcome Ashley has quit smoking.

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Speaker 3: She's already saving so much money, and she says, it's

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Speaker 3: such a relief to finally be free of the habits.

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Speaker 4: I have luge combats. That's like a health.

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Speaker 2: Win as well, abslutely just money win. But like something

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Speaker 2: that I think is really important. You guys have heard

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Speaker 2: me say it before, is if you're going to make

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Speaker 2: a really big change that is going to have a

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Speaker 2: significant financial impact on your life, like quitting smoking, Like

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Speaker 2: that's a big one, make sure you're putting that money

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Speaker 2: somewhere else so you don't get further down the track

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Speaker 2: and then you go, oh, where's that money going? Like

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Speaker 2: everyone said that when I quit smoking, I'll save so

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Speaker 2: much money, but I'm not seeing it. Like, we need

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Speaker 2: to be more active about this. So if you were

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Speaker 2: spending fifty bucks a week or one hundred dollars a week,

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Speaker 2: start putting that money in a savings account so that

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Speaker 2: if you're ever attempted to go back to the habit,

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Speaker 2: you look at it and go, no, I'm so happy

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Speaker 2: that I have those savings, Like, please do it. Because

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Speaker 2: I've heard a few people in our community saying Oh

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Speaker 2: I thought i'd save heaps if I was not smoking anymore,

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Speaker 2: And the reality is, yes, you will. But we need

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Speaker 2: to be more active about our savings. It doesn't just happen.

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Speaker 2: The money doesn't just end up magically in our account saved.

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Speaker 2: We as humans will always find another way to allocate it.

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Speaker 2: So we have to be very specific about where things

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Speaker 2: go and how they're structured and what we are doing

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Speaker 2: with our money. One hundred percent back to wins Now,

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Speaker 2: I'll stop ranting.

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Speaker 3: H I loved that our final win V is from Lucy.

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Speaker 3: So she asked her boss for a pay rise this

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Speaker 3: week and he gave her a twenty five percent raise

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Speaker 3: without any hesitation. What this means, now ve is that

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Speaker 3: she's doubled her salary from the job she was made

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Speaker 3: redundant from in May twenty twenty. Turns out COVID business

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Speaker 3: closures can't have a silver lining in the long run.

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Speaker 2: She wrote, Oh I love that, but also we're going

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Speaker 2: to use Lucy's money when as a reminder, New Year,

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Speaker 2: New salary. If you've been thinking about talking to your

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Speaker 2: boss about salary, what are you waiting for? Lucy's boss

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Speaker 2: gave her a twenty five percent increase without question. If

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Speaker 2: you've been thinking about asking, now's the time to shine.

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Speaker 2: My friends, v Let's set up a meeting after this, right,

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Speaker 2: will have a chat. I wish I said not no, no,

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Speaker 2: no no, But there's actually, George, as you would know,

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Speaker 2: an entire podcast about negotiating your salary. So go back

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Speaker 2: and listen to that, because now is a very good

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Speaker 2: time to be having conversations about salary. New Year, New us.

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Speaker 2: You deserve it, all right, let's get back into it, Georgia,

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Speaker 2: can we hear this week's listener question?

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Speaker 5: Hey, team and Maddie here. I'm twenty three years old

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Speaker 5: and I just got a new job at a big

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Speaker 5: company that I'm really excited about. The only issue is

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Speaker 5: that I've just found out I'm going to be paid

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Speaker 5: once a month, which is really starting to stress me out,

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Speaker 5: and I feel like it's a money loss. Do you

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Speaker 5: have any tips for managing only being paid once a month?

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Speaker 2: Gee, I feel like this is a really relatable one.

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Speaker 2: At some point in our lives, we've all gone through

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Speaker 2: a change in employment that's meant a change in the

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Speaker 2: way that we get paid, or like maybe even a

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Speaker 2: bump in the road. It might go from weekly to fortnightly,

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Speaker 2: but monthly is a big one. Have you ever gone

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Speaker 2: through a change that big?

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Speaker 3: Yeah, I have my first full time job. I was

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Speaker 3: paid monthly, which it was different, I guess because it

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Speaker 3: was my first full time job, so I was earning

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Speaker 3: more than my casual job. But I was used to

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Speaker 3: having that weekly top up, so it was a huge adjustment.

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Speaker 3: So I definitely understand the stress of this question. But

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Speaker 3: it's definitely not a money loss like you were going

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Speaker 3: to be just fine with the help of Victoria.

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Speaker 2: Yeah, it's not a money lost by any stretch of

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Speaker 2: the imagination. It actually just requires a little bit more planning.

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Speaker 2: And I say a little bit more planning because obviously,

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Speaker 2: let's pretend George, it's the same amount of money and

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Speaker 2: we're not talking about you know, pay rises or pay decreases.

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Speaker 2: We're actually just talking about frequency here. But when it

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Speaker 2: comes to frequency, if we get a big lump sum

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Speaker 2: at the start of the month, mindset often comes into it.

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Speaker 2: So you're very likely to go, oh my god, no,

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Speaker 2: I've got heaps of money. It's so fine, Like I

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Speaker 2: can go out for an extra apparol with you, George,

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Speaker 2: don't worry or no, no, no, babe, I've got the

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Speaker 2: pizza this time. You got it last time. Even if

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Speaker 2: you're not sure who paid, you end up just dipping

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Speaker 2: into your money a bit more than you had actually

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Speaker 2: planned to. So maybe the last week of your pay

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Speaker 2: cycle is super tight and you end up feeling really uncomfortable.

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Speaker 2: So this is where having a really good budget and

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Speaker 2: cash flow system in place is going to be essential,

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Speaker 2: because then it won't matter because you are in a

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Speaker 2: situation where you know what your expenses are, and you

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Speaker 2: know what you're spending on your food, your fuel, and

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Speaker 2: your fun each and every single month, so that you

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Speaker 2: can allocate that to your personal spending each week. And

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Speaker 2: this is how I do my own personal spending. This

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Speaker 2: is how our budget and casually master class is set up.

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Speaker 2: Albeit I don't think this person came in for me

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Speaker 2: to go do my course, but at the end of

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Speaker 2: the day, genuinely, my online master class would be of

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Speaker 2: value here and you're not am going to do George.

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Speaker 2: We're going to send her the master class so that

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Speaker 2: she can do it because at the end of the day,

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Speaker 2: she's in a situation where that would be really valuable.

435
00:20:53,640 --> 00:20:56,119
Speaker 2: And having a system that is made for you is

436
00:20:56,160 --> 00:20:58,920
Speaker 2: going to make it so much easier. So it's about

437
00:20:58,960 --> 00:21:01,399
Speaker 2: sitting down and going, right, what is my budget, what

438
00:21:01,440 --> 00:21:04,240
Speaker 2: am I spending? How much am I spending? Being really

439
00:21:04,280 --> 00:21:07,160
Speaker 2: really stick with that. When we say budget at cheese

440
00:21:07,200 --> 00:21:09,840
Speaker 2: on the money, we're not saying please restrict yourself, like

441
00:21:10,200 --> 00:21:12,720
Speaker 2: set a budget for groceries, Like we're not saying that.

442
00:21:12,760 --> 00:21:14,640
Speaker 2: I'm saying to you, Georgia, how much do you spend

443
00:21:14,680 --> 00:21:17,080
Speaker 2: on groceries each week? And you might go, oh, like

444
00:21:17,240 --> 00:21:19,639
Speaker 2: maybe fifty bucks, and I'll go, are you sure?

445
00:21:19,840 --> 00:21:20,040
Speaker 5: You go?

446
00:21:20,200 --> 00:21:22,440
Speaker 2: Oh, let me go through my bank balance, and then

447
00:21:22,440 --> 00:21:25,320
Speaker 2: it's like eighty dollars. If we set our budget at

448
00:21:25,359 --> 00:21:27,760
Speaker 2: fifty we're going to shoot ourselves in the foot each

449
00:21:27,800 --> 00:21:31,280
Speaker 2: and every single week because that's not truly what you're spending.

450
00:21:31,680 --> 00:21:34,399
Speaker 2: So it's not a place where we're trying to restrict.

451
00:21:34,440 --> 00:21:37,560
Speaker 2: It's a place where we're trying to understand so that

452
00:21:37,640 --> 00:21:39,560
Speaker 2: you can go, oh, well, I spend eighty bucks a week,

453
00:21:39,600 --> 00:21:41,680
Speaker 2: and you might go, that's pretty fair. I don't want

454
00:21:41,680 --> 00:21:43,879
Speaker 2: to change that. But if you're super aware of your

455
00:21:43,920 --> 00:21:45,560
Speaker 2: spending habbits, you might go, but do you know what

456
00:21:46,000 --> 00:21:48,239
Speaker 2: I actually really need to really in the amount of

457
00:21:48,280 --> 00:21:50,840
Speaker 2: takeaway coffees that I have, I definitely don't need to

458
00:21:50,960 --> 00:21:53,119
Speaker 2: a day. I can't believe how much they add up.

459
00:21:53,160 --> 00:21:56,240
Speaker 2: That's adding xyz to my budget each and every single week,

460
00:21:56,480 --> 00:21:58,520
Speaker 2: and it's not in line with my values. Like, I

461
00:21:58,600 --> 00:22:00,560
Speaker 2: just don't want to do that because I'm actually trying

462
00:22:00,560 --> 00:22:02,119
Speaker 2: to save for a house or you know what. I'm

463
00:22:02,160 --> 00:22:03,800
Speaker 2: trying to save so that I have a little bit

464
00:22:03,800 --> 00:22:05,600
Speaker 2: more money in my budget each week, so that i

465
00:22:05,600 --> 00:22:07,560
Speaker 2: can actually go out on a Friday night and have

466
00:22:07,600 --> 00:22:09,639
Speaker 2: a drink and go out for dinner with my girlfriends.

467
00:22:09,880 --> 00:22:12,600
Speaker 2: And I'm not spending any more than I would have before.

468
00:22:12,680 --> 00:22:15,560
Speaker 2: I've just reallocated my budget to be more in line

469
00:22:15,600 --> 00:22:17,680
Speaker 2: with the way I want to live my life. That

470
00:22:18,000 --> 00:22:20,399
Speaker 2: is what we're talking about when we say budgeting. It

471
00:22:20,480 --> 00:22:23,639
Speaker 2: is about you living in line with your values, not

472
00:22:23,800 --> 00:22:26,199
Speaker 2: living in line with what you think people expect of you.

473
00:22:26,680 --> 00:22:28,880
Speaker 2: So if you can do that, and then you can

474
00:22:28,920 --> 00:22:32,800
Speaker 2: set up your bank account system and Georgia, we've posted

475
00:22:32,800 --> 00:22:34,840
Speaker 2: in the group before how many bank accounts I think

476
00:22:34,880 --> 00:22:37,719
Speaker 2: you guys need. The magic number is six from my perspective.

477
00:22:38,080 --> 00:22:40,360
Speaker 2: But if you can set all your bank accounts up,

478
00:22:40,600 --> 00:22:42,600
Speaker 2: you won't have an issue where at the end of

479
00:22:42,640 --> 00:22:44,920
Speaker 2: the month you feel stuck because each and every single

480
00:22:44,960 --> 00:22:46,600
Speaker 2: week you have the same amount of money that you

481
00:22:46,680 --> 00:22:48,879
Speaker 2: can spend. And we're on a bit of a structure,

482
00:22:48,960 --> 00:22:52,399
Speaker 2: and it makes sense so that we're achieving our savings goals,

483
00:22:52,480 --> 00:22:55,040
Speaker 2: we are achieving our debt repayments if we've got any.

484
00:22:55,240 --> 00:22:57,280
Speaker 2: We are putting money away for the things that are

485
00:22:57,280 --> 00:23:00,480
Speaker 2: going to come up in the future, like registration because

486
00:23:00,480 --> 00:23:02,880
Speaker 2: they usually come at the same time as insurance and

487
00:23:03,040 --> 00:23:05,520
Speaker 2: for me, at the same time as Christmas, which is

488
00:23:05,560 --> 00:23:08,280
Speaker 2: so rude and I don't appreciate it. But at the

489
00:23:08,400 --> 00:23:10,560
Speaker 2: end of the day, get on top of your budget,

490
00:23:10,840 --> 00:23:14,480
Speaker 2: understand it. Create a cash flow system that works for you.

491
00:23:15,400 --> 00:23:19,280
Speaker 3: Two quick questions before we move on V I remember

492
00:23:19,400 --> 00:23:22,520
Speaker 3: when I was getting paid once a month, it didn't

493
00:23:22,560 --> 00:23:25,359
Speaker 3: take a toll in my emotions. But now that I

494
00:23:25,400 --> 00:23:28,919
Speaker 3: get paid fortnightly, it's like an exciting you get your

495
00:23:28,960 --> 00:23:31,000
Speaker 3: pay slim well, you get your money, and it's like

496
00:23:31,040 --> 00:23:33,879
Speaker 3: exciting when you just get paid once a month. You

497
00:23:34,040 --> 00:23:37,119
Speaker 3: only get that feeling twelve times a year, Like is

498
00:23:37,160 --> 00:23:40,280
Speaker 3: that something that we can kind of do? We just

499
00:23:40,280 --> 00:23:42,920
Speaker 3: need to get our heads around that feeling. Not really

500
00:23:43,200 --> 00:23:44,600
Speaker 3: being meaningful.

501
00:23:44,240 --> 00:23:47,040
Speaker 2: Or yes, we actually need to create a budget and

502
00:23:47,080 --> 00:23:50,320
Speaker 2: cash flow system where that's just a part of it.

503
00:23:50,560 --> 00:23:54,480
Speaker 2: We don't want payday to be exciting because payday shouldn't

504
00:23:54,560 --> 00:23:58,400
Speaker 2: be exciting because it's just topping up a fund that

505
00:23:58,880 --> 00:24:01,639
Speaker 2: should be replenished, right Like it shouldn't be like, oh

506
00:24:01,720 --> 00:24:03,800
Speaker 2: my gosh, I've got so much more money to spend,

507
00:24:04,400 --> 00:24:06,840
Speaker 2: like it should be, oh my gosh, I'm so glad

508
00:24:06,880 --> 00:24:09,480
Speaker 2: that my pay came in because I've already allocated where

509
00:24:09,480 --> 00:24:11,080
Speaker 2: it's going to go and where it's going to live

510
00:24:11,119 --> 00:24:12,959
Speaker 2: and where it's going to grow. So I think it's

511
00:24:13,040 --> 00:24:15,520
Speaker 2: very important to remember that mindset does come into this

512
00:24:15,600 --> 00:24:18,119
Speaker 2: a fair bit, and we need to think about why

513
00:24:18,160 --> 00:24:20,960
Speaker 2: we might be excited about payday. Are you excited about

514
00:24:21,000 --> 00:24:23,800
Speaker 2: payday because you're really short on cash each month and

515
00:24:23,840 --> 00:24:26,120
Speaker 2: that's the day that the pressure gets taken off a bit?

516
00:24:26,680 --> 00:24:29,280
Speaker 2: I get it. I totally get it. I have clients

517
00:24:29,280 --> 00:24:31,960
Speaker 2: that have been in this situation. That's why we want

518
00:24:31,960 --> 00:24:34,359
Speaker 2: a structure that makes sense. You're excited because you should

519
00:24:34,440 --> 00:24:37,320
Speaker 2: excited to get paid, like that's cool, But more often

520
00:24:37,400 --> 00:24:41,440
Speaker 2: than not, usually excitement around payday comes with a sense

521
00:24:41,480 --> 00:24:44,560
Speaker 2: of relief because you're not under financial pressure at that

522
00:24:44,680 --> 00:24:47,240
Speaker 2: point in time, because that money has come into your

523
00:24:47,240 --> 00:24:48,960
Speaker 2: account and you're like, Okay, cool, I can afford rent.

524
00:24:49,080 --> 00:24:50,560
Speaker 2: And I wasn't sure how that was going to happen

525
00:24:50,600 --> 00:24:53,080
Speaker 2: because I had no money left. Like, no one deserves

526
00:24:53,119 --> 00:24:56,400
Speaker 2: to feel like that, And that's why structuring yourself properly

527
00:24:56,880 --> 00:25:00,159
Speaker 2: so that you're in a position of empowerment is really important.

528
00:25:00,480 --> 00:25:03,120
Speaker 3: Yeah, because you're not making less money. You're making literally

529
00:25:03,160 --> 00:25:05,160
Speaker 3: the same amount of money. It's just how you think

530
00:25:05,160 --> 00:25:08,160
Speaker 3: about it and how you strategize to make it work

531
00:25:08,200 --> 00:25:11,919
Speaker 3: for you. Last little question here, Vye. Why do companies

532
00:25:12,400 --> 00:25:14,359
Speaker 3: choose to pay once a month only?

533
00:25:14,480 --> 00:25:16,600
Speaker 2: Is it just a caros and a nightmare?

534
00:25:16,680 --> 00:25:17,160
Speaker 4: George?

535
00:25:18,000 --> 00:25:21,960
Speaker 2: Payroll as somebody who employs people, I'm sorry. At the

536
00:25:22,040 --> 00:25:24,199
Speaker 2: end of the day, it's literally based on what the

537
00:25:24,240 --> 00:25:26,879
Speaker 2: company does. If it's a big company, they might have

538
00:25:26,920 --> 00:25:29,800
Speaker 2: a payroll department and they're sorting everything out during the

539
00:25:29,800 --> 00:25:32,320
Speaker 2: month and they're getting it together, and monthly just works

540
00:25:32,320 --> 00:25:36,240
Speaker 2: for that company. Some companies pay weekly, some companies pay fortnightly.

541
00:25:36,320 --> 00:25:40,120
Speaker 2: To be honest, it's really personal preference. Sometimes they'll be flexible.

542
00:25:40,200 --> 00:25:41,960
Speaker 2: For example, if you work in a small business and

543
00:25:41,960 --> 00:25:43,720
Speaker 2: you're like, oh, I'm really bad at cash flow. We

544
00:25:43,720 --> 00:25:45,200
Speaker 2: really want to have a chat to my boss about

545
00:25:45,240 --> 00:25:48,600
Speaker 2: my pay cycles. They might be flexible in this, Like,

546
00:25:48,640 --> 00:25:51,160
Speaker 2: it's definitely worth a conversation if it's something that's really

547
00:25:51,200 --> 00:25:54,919
Speaker 2: important to you. However, it really just comes down to

548
00:25:54,960 --> 00:25:57,520
Speaker 2: the way that the business has been structured. To be honest,

549
00:25:57,760 --> 00:26:00,720
Speaker 2: I pay the way I pay because that's how the

550
00:26:00,720 --> 00:26:03,159
Speaker 2: bookkeeper I worked with when I first set up my

551
00:26:03,240 --> 00:26:05,639
Speaker 2: business worked and she just told me that's how it

552
00:26:05,680 --> 00:26:08,160
Speaker 2: was going to be. I didn't really have a discussion

553
00:26:08,160 --> 00:26:10,199
Speaker 2: about it. I didn't really have a conversation. It was

554
00:26:10,280 --> 00:26:12,479
Speaker 2: just the way that she said would work the best

555
00:26:12,520 --> 00:26:15,720
Speaker 2: and be the clearest, and it just made sense. But

556
00:26:15,960 --> 00:26:18,119
Speaker 2: it's different for everybody, So I don't think there's a

557
00:26:18,240 --> 00:26:20,600
Speaker 2: right or a wrong. And if it's something that's really

558
00:26:20,760 --> 00:26:23,560
Speaker 2: grinding your gears, g talk to your boss about it.

559
00:26:23,640 --> 00:26:24,960
Speaker 4: Love that Phi.

560
00:26:25,320 --> 00:26:27,399
Speaker 3: Is it time to move on to a new little

561
00:26:27,560 --> 00:26:30,480
Speaker 3: segment that you created twenty minutes ago in our planning? Mate?

562
00:26:30,560 --> 00:26:33,560
Speaker 2: Oh yes, George, I'm very excited about this, and I

563
00:26:33,560 --> 00:26:35,359
Speaker 2: mean I've been thinking about it for a long time.

564
00:26:36,000 --> 00:26:39,960
Speaker 2: But we usually do on Friday drinks a little segment

565
00:26:40,119 --> 00:26:42,240
Speaker 2: where we talk about the news all the current events,

566
00:26:42,400 --> 00:26:45,639
Speaker 2: and I was like, George, financial news over Christmas was

567
00:26:45,680 --> 00:26:48,159
Speaker 2: pretty bland. I mean, we talked about Elizabeth Holmes, and

568
00:26:48,200 --> 00:26:51,160
Speaker 2: I do have a recommendation based on the last week's

569
00:26:51,400 --> 00:26:54,120
Speaker 2: show because I said that it was a really interesting

570
00:26:54,119 --> 00:26:56,520
Speaker 2: case to follow. I'm really interested to see what actually

571
00:26:56,520 --> 00:26:59,240
Speaker 2: eventuates and how it works. And a whole heap of

572
00:26:59,320 --> 00:27:04,920
Speaker 2: uselid into my and recommended the ABC podcast The Dropout G.

573
00:27:05,359 --> 00:27:09,040
Speaker 2: I finished season one, I'm halfway through season two. I'm obsessed.

574
00:27:09,359 --> 00:27:11,359
Speaker 2: I have been listening to it while I'm working. I

575
00:27:11,400 --> 00:27:13,040
Speaker 2: have been listening to it when I walk the dog

576
00:27:13,119 --> 00:27:15,199
Speaker 2: every morning. I have been listening to it laying in

577
00:27:15,280 --> 00:27:19,119
Speaker 2: bed like it's it's not healthy. Like I'm obsessed, but

578
00:27:19,200 --> 00:27:22,200
Speaker 2: it's such an interesting case. And that was definitely a

579
00:27:22,200 --> 00:27:25,600
Speaker 2: good pod recommendation from you guys. But to replace this

580
00:27:25,680 --> 00:27:29,119
Speaker 2: week's news segment, G, We're going to do book club.

581
00:27:29,720 --> 00:27:32,240
Speaker 2: We're creating a book club, but it's like a fake

582
00:27:32,359 --> 00:27:35,120
Speaker 2: book club. It's not a real book club. What happens

583
00:27:35,200 --> 00:27:37,280
Speaker 2: is I read the book, and then I tell you

584
00:27:37,359 --> 00:27:40,159
Speaker 2: about the book, and then you guys get to pretend

585
00:27:40,200 --> 00:27:42,159
Speaker 2: you also read the book because I'm going to do

586
00:27:42,280 --> 00:27:44,960
Speaker 2: like the TLDR version, like the too long didn't read,

587
00:27:45,600 --> 00:27:47,600
Speaker 2: So you can get all of the knowledge out of

588
00:27:47,600 --> 00:27:49,880
Speaker 2: a finance book without having to read it, because some

589
00:27:49,920 --> 00:27:52,440
Speaker 2: of them are really dry. So I guess that's another

590
00:27:52,440 --> 00:27:54,640
Speaker 2: point we should make. It's going to be a finance book.

591
00:27:54,680 --> 00:27:56,520
Speaker 2: It's not just going to be any book. It's not

592
00:27:56,560 --> 00:27:58,640
Speaker 2: just going to be some rom com that Victoria's been

593
00:27:58,640 --> 00:28:01,120
Speaker 2: reading in a downtime, which I absolutely do, but we're

594
00:28:01,119 --> 00:28:03,200
Speaker 2: not going to talk about the topics that I read.

595
00:28:03,920 --> 00:28:05,720
Speaker 2: But it's going to be a finance book. And you

596
00:28:05,760 --> 00:28:08,119
Speaker 2: guys should be really excited. I mean, are you?

597
00:28:08,320 --> 00:28:10,760
Speaker 3: I mean I would love it more if they weren't finance.

598
00:28:10,760 --> 00:28:12,040
Speaker 3: I'm not going to lie to you, but this is

599
00:28:12,040 --> 00:28:14,200
Speaker 3: a finance podcast, and here we are.

600
00:28:15,040 --> 00:28:18,640
Speaker 2: I mean, people could make really trashy recommendations, like if

601
00:28:18,640 --> 00:28:21,240
Speaker 2: they wanted to, like if you read a really good

602
00:28:21,400 --> 00:28:23,440
Speaker 2: rom com novel recently.

603
00:28:23,040 --> 00:28:26,880
Speaker 3: Please, I'm currently reading The Paper Palace, which is kind

604
00:28:26,880 --> 00:28:29,200
Speaker 3: of in that vein, so would recommend that. But again,

605
00:28:29,240 --> 00:28:31,320
Speaker 3: that's not why we're here. What I think is good

606
00:28:31,320 --> 00:28:34,359
Speaker 3: about this idea V is that no one really wants

607
00:28:34,400 --> 00:28:37,000
Speaker 3: to read finance books unless there she is on the money,

608
00:28:37,040 --> 00:28:37,640
Speaker 3: of course.

609
00:28:38,560 --> 00:28:39,120
Speaker 4: So this is a.

610
00:28:39,040 --> 00:28:41,480
Speaker 3: Really good way of kind of grasping the main concepts

611
00:28:41,480 --> 00:28:44,000
Speaker 3: that you've taken away. You can done them down for

612
00:28:44,440 --> 00:28:47,280
Speaker 3: my good self and the listeners and have fun with it.

613
00:28:47,440 --> 00:28:50,080
Speaker 2: You're welcome. You are so welcome. And I've said on

614
00:28:50,120 --> 00:28:52,600
Speaker 2: the podcast before, we're going to start with my favorite

615
00:28:52,640 --> 00:28:56,400
Speaker 2: finance book of all time, and at the same time

616
00:28:56,440 --> 00:28:58,720
Speaker 2: as being my favorite, I would argue it is the

617
00:28:58,920 --> 00:29:02,320
Speaker 2: driest nance book of all time. But the thing I

618
00:29:02,400 --> 00:29:06,280
Speaker 2: adore about it, George, is actually the Cures our Cards,

619
00:29:06,320 --> 00:29:09,640
Speaker 2: seven cures out of it, which teach a different investment

620
00:29:09,720 --> 00:29:12,280
Speaker 2: lesson for each and every single segment. And I feel

621
00:29:12,280 --> 00:29:14,800
Speaker 2: like it's a really timeless book. So the book we

622
00:29:14,840 --> 00:29:17,880
Speaker 2: are going to talk about today, George, is called The

623
00:29:18,040 --> 00:29:22,040
Speaker 2: Richest Man in Babylon and it is by George Samuel Klassen.

624
00:29:22,480 --> 00:29:26,800
Speaker 2: And this book has existed for more than one hundred years. Literally,

625
00:29:27,000 --> 00:29:29,920
Speaker 2: it has been around the sun a fair few times.

626
00:29:30,280 --> 00:29:34,280
Speaker 2: But to summarize it very quickly, it gives from my perspective,

627
00:29:34,480 --> 00:29:38,440
Speaker 2: very common sense financial advice that I would argue is

628
00:29:38,480 --> 00:29:42,360
Speaker 2: still very applicable today that is told through different tales

629
00:29:42,400 --> 00:29:46,680
Speaker 2: and parables from the times of ancient Babylon, which sounds

630
00:29:46,800 --> 00:29:48,920
Speaker 2: very romantic, but I promise when you read it you'll

631
00:29:48,920 --> 00:29:52,600
Speaker 2: be like, this is dry. And also the font in

632
00:29:52,640 --> 00:29:56,719
Speaker 2: this book is particularly small, which we don't write, like,

633
00:29:56,840 --> 00:29:59,720
Speaker 2: I want readable fonts, not fonts that make me squint

634
00:29:59,760 --> 00:30:02,520
Speaker 2: while reading. So like just a little bit of feedback

635
00:30:02,520 --> 00:30:06,160
Speaker 2: to the publishers there, you could increase it. But it

636
00:30:06,240 --> 00:30:08,000
Speaker 2: is very it feels very old.

637
00:30:08,000 --> 00:30:10,440
Speaker 3: Sophie, not gonna lie. You haven't really sold it. The

638
00:30:10,480 --> 00:30:13,960
Speaker 3: font's really small, it's boring and dry a written.

639
00:30:15,080 --> 00:30:18,000
Speaker 2: It's not great, But as I said, it has financial

640
00:30:18,120 --> 00:30:22,480
Speaker 2: advice in it that I think is incredibly relevant today. Okay,

641
00:30:22,720 --> 00:30:24,360
Speaker 2: so you're like still not selling it.

642
00:30:24,440 --> 00:30:27,480
Speaker 4: Yeah, I mean not really caring. Like what are the

643
00:30:27,520 --> 00:30:29,240
Speaker 4: main lessons that you learned from the book?

644
00:30:29,240 --> 00:30:29,560
Speaker 3: All right?

645
00:30:29,600 --> 00:30:33,880
Speaker 2: So there's there's a fictional Babylonian character in this book

646
00:30:33,920 --> 00:30:37,240
Speaker 2: and we follow him and his name's Arcad or Arcad

647
00:30:37,680 --> 00:30:40,800
Speaker 2: I think it's Arcad anyway. Arcad is a very poor

648
00:30:40,880 --> 00:30:44,720
Speaker 2: scribe who essentially became the richest man in Babylon through

649
00:30:44,840 --> 00:30:47,360
Speaker 2: these tips and tricks that are shared in the book.

650
00:30:47,600 --> 00:30:50,720
Speaker 2: So Babylon was the wealthiest city in the entire world

651
00:30:50,760 --> 00:30:54,520
Speaker 2: at the time that this was published, because people appreciated

652
00:30:54,560 --> 00:30:57,360
Speaker 2: the value of money, and this book, if You're in

653
00:30:57,400 --> 00:31:01,160
Speaker 2: financial Advice is known as being one of the most

654
00:31:01,160 --> 00:31:05,240
Speaker 2: influential classic books to exist in this space. And by

655
00:31:05,280 --> 00:31:07,480
Speaker 2: the end of the book, you have an understanding of

656
00:31:07,560 --> 00:31:12,880
Speaker 2: Arkad's financial advice. Specifically, he has seven cures and five

657
00:31:13,120 --> 00:31:16,280
Speaker 2: Laws of Gold, and these help you generate money, then

658
00:31:16,320 --> 00:31:19,640
Speaker 2: protect it, then invest it. So like it sounds kind

659
00:31:19,640 --> 00:31:21,480
Speaker 2: of cooler when I'd be like, oh, it's actually kind

660
00:31:21,480 --> 00:31:24,040
Speaker 2: of like a story, but let's just go through them

661
00:31:24,120 --> 00:31:28,160
Speaker 2: really quickly. Essentially, the seven cures are really important, and

662
00:31:28,160 --> 00:31:31,200
Speaker 2: they're kind of like seven top tips, and for each

663
00:31:31,400 --> 00:31:33,680
Speaker 2: tip you get kind of like a parable or a

664
00:31:33,760 --> 00:31:36,840
Speaker 2: story to go along with it as to why it's important.

665
00:31:36,920 --> 00:31:40,680
Speaker 2: And the first one is pay yourself first, which she's

666
00:31:40,680 --> 00:31:43,000
Speaker 2: on the Money we agree with, and he says you

667
00:31:43,040 --> 00:31:45,720
Speaker 2: should always, always, always be looking to save money where

668
00:31:45,720 --> 00:31:48,920
Speaker 2: you can. The author recommends saving at least ten percent

669
00:31:49,000 --> 00:31:51,840
Speaker 2: of your earnings always. If you can save a higher

670
00:31:51,880 --> 00:31:55,080
Speaker 2: portion of this, then that is fantastic. This money might

671
00:31:55,120 --> 00:31:56,840
Speaker 2: be just going to pay off debt, but that is

672
00:31:56,880 --> 00:31:59,800
Speaker 2: still growing your wealth. If you are in debt. You

673
00:32:00,280 --> 00:32:02,920
Speaker 2: live on seventy percent of what you earn, save ten

674
00:32:02,920 --> 00:32:06,040
Speaker 2: percent for yourself, and use the remaining twenty percent to

675
00:32:06,120 --> 00:32:09,520
Speaker 2: pay your debts. And you should set this aside before

676
00:32:09,560 --> 00:32:13,440
Speaker 2: you spend any other money. So that's kind of kind

677
00:32:13,440 --> 00:32:17,080
Speaker 2: of interesting. He also says that every expense you have

678
00:32:17,360 --> 00:32:20,400
Speaker 2: is slaving away for somebody else. If you don't pay

679
00:32:20,440 --> 00:32:23,720
Speaker 2: yourself first, you are merely working to pay for other people.

680
00:32:24,000 --> 00:32:26,040
Speaker 2: The author then goes on to explain that you might

681
00:32:26,080 --> 00:32:28,920
Speaker 2: as well be a servant if you don't pay yourself first,

682
00:32:29,240 --> 00:32:31,760
Speaker 2: and he says this is because servants work to earn

683
00:32:31,840 --> 00:32:35,160
Speaker 2: food and shelter. So that's number one in his seven cures.

684
00:32:35,240 --> 00:32:37,800
Speaker 4: Oh, that's number one. That's all seven times.

685
00:32:37,840 --> 00:32:41,280
Speaker 2: Not all seven babes like, sit down, strap yourself. In

686
00:32:41,600 --> 00:32:45,240
Speaker 2: Number two is control your expenses. So the author says

687
00:32:45,320 --> 00:32:48,560
Speaker 2: you absolutely well and truly need to control your expenses

688
00:32:48,680 --> 00:32:50,560
Speaker 2: to be able to save a minimum of ten percent

689
00:32:50,560 --> 00:32:52,880
Speaker 2: of your earnings, you actually have to minimize the amount

690
00:32:52,880 --> 00:32:55,080
Speaker 2: of money going out of your accounts or out of

691
00:32:55,120 --> 00:32:57,800
Speaker 2: your hands. So the recommendation in this book is that

692
00:32:57,840 --> 00:33:00,320
Speaker 2: you need to be spending ninety percent all life less

693
00:33:00,360 --> 00:33:03,960
Speaker 2: in total of your income. So the author recommends that

694
00:33:04,040 --> 00:33:06,120
Speaker 2: you need to learn to live below your means and

695
00:33:06,200 --> 00:33:11,000
Speaker 2: try and avoid any unnecessary expenses because your expenses will

696
00:33:11,040 --> 00:33:14,920
Speaker 2: always grow to equal your income if you don't protest.

697
00:33:15,400 --> 00:33:18,240
Speaker 2: So like lifestyle creep, yeah exactly, Like we talk about

698
00:33:18,280 --> 00:33:20,040
Speaker 2: this stuff all the time. So it turns out I

699
00:33:20,200 --> 00:33:23,240
Speaker 2: really really haven't reined. Then to the wheel, it's actually

700
00:33:23,240 --> 00:33:26,480
Speaker 2: come from four thousand years ago in Babylon, Like, who would.

701
00:33:26,240 --> 00:33:28,280
Speaker 4: Have thought he should have done a podcast?

702
00:33:28,480 --> 00:33:31,080
Speaker 2: I know? Can you imagine he would have made heaps?

703
00:33:32,080 --> 00:33:36,160
Speaker 2: So a perfect example of this is exactly like lifestyle Creep.

704
00:33:36,200 --> 00:33:38,480
Speaker 2: So when people get a raise, instead of using that

705
00:33:38,520 --> 00:33:41,480
Speaker 2: as an opportunity to save more money, people tend to

706
00:33:41,600 --> 00:33:44,760
Speaker 2: just start spending more. So unless you can control your

707
00:33:44,880 --> 00:33:48,280
Speaker 2: urged to buy unnecessary things, the author says, you're always

708
00:33:48,320 --> 00:33:53,320
Speaker 2: going to struggle to maintain this cure. That's kind of cool, right, yeah,

709
00:33:53,360 --> 00:33:54,000
Speaker 2: I like it.

710
00:33:54,240 --> 00:33:54,920
Speaker 4: What's next?

711
00:33:55,120 --> 00:33:58,160
Speaker 2: So, George, Number three is make money work for you,

712
00:33:58,760 --> 00:34:01,440
Speaker 2: So together, save it money and not spending money on

713
00:34:01,520 --> 00:34:05,360
Speaker 2: unnecessary things is not enough to actually create wealth. You

714
00:34:05,520 --> 00:34:09,080
Speaker 2: need to be investing your money. So the book says

715
00:34:09,160 --> 00:34:11,680
Speaker 2: the first two cures, which is saving and then controlling

716
00:34:11,680 --> 00:34:15,359
Speaker 2: your expenses will help you with this third cure. The

717
00:34:15,400 --> 00:34:18,480
Speaker 2: first two cures will provide money for you to invest,

718
00:34:18,800 --> 00:34:23,040
Speaker 2: and then every single cent of your savings should be invested. Again,

719
00:34:23,280 --> 00:34:25,160
Speaker 2: I think it's important here to say this isn't my

720
00:34:25,160 --> 00:34:28,279
Speaker 2: advice is and me summarizing the book. If you then

721
00:34:28,400 --> 00:34:31,680
Speaker 2: receive returns on your money invested, then you should be

722
00:34:31,760 --> 00:34:36,200
Speaker 2: investing those returns as well. So effectively, they recommend that

723
00:34:36,239 --> 00:34:38,560
Speaker 2: you build a little army of workers, which are your

724
00:34:38,560 --> 00:34:40,960
Speaker 2: dollars that are earning money for you.

725
00:34:40,920 --> 00:34:43,200
Speaker 4: Also known as compound interest. Am I right?

726
00:34:43,320 --> 00:34:46,520
Speaker 2: Yeah, you're not wrong. The other part of this chapter

727
00:34:47,000 --> 00:34:50,880
Speaker 2: is ensuring that you're investing in areas that you are knowledgeable,

728
00:34:51,440 --> 00:34:53,640
Speaker 2: or if there is an opportunity that you are not

729
00:34:53,800 --> 00:34:56,879
Speaker 2: knowledgeable in and you need to learn more, you need

730
00:34:56,920 --> 00:34:59,960
Speaker 2: to lean on somebody who is an expert in that area.

731
00:35:00,480 --> 00:35:03,319
Speaker 2: So one example, which I think I've posted quotes on

732
00:35:03,440 --> 00:35:07,960
Speaker 2: before is you wouldn't take advice on purchasing diamonds from

733
00:35:07,960 --> 00:35:11,799
Speaker 2: a bricklayer. And I think that that is incredibly important

734
00:35:12,280 --> 00:35:15,799
Speaker 2: because so many people, especially nowadays, are reaching out to

735
00:35:16,520 --> 00:35:20,280
Speaker 2: social media influences about buying crypto, and you go, why

736
00:35:20,320 --> 00:35:22,800
Speaker 2: would you do that if you actually want to create

737
00:35:22,840 --> 00:35:26,879
Speaker 2: wealth instead of relying on experts in that area. So

738
00:35:27,120 --> 00:35:30,000
Speaker 2: the best people in this book, this is also me

739
00:35:30,120 --> 00:35:32,759
Speaker 2: going ha ha, but the best people to learn from

740
00:35:32,800 --> 00:35:36,040
Speaker 2: are actually financial advisors. In the book The Richest Man

741
00:35:36,080 --> 00:35:39,200
Speaker 2: in Babylon, there are actually several fictional characters who can

742
00:35:39,280 --> 00:35:43,160
Speaker 2: be described as financial advisors, but they are essentially rich,

743
00:35:43,239 --> 00:35:45,480
Speaker 2: self made men who are endorsed by the quote king

744
00:35:45,600 --> 00:35:48,440
Speaker 2: and other leaders in this book. But essentially they are

745
00:35:48,480 --> 00:35:51,360
Speaker 2: seen as being the trustworthy experts. They help other people

746
00:35:51,400 --> 00:35:53,759
Speaker 2: make money. But the guy who's trying to convince you

747
00:35:53,800 --> 00:35:55,560
Speaker 2: that he can help you buy diamonds, but he's a

748
00:35:55,560 --> 00:35:58,319
Speaker 2: bricklayer and doesn't have any diamonds, like, he's probably not

749
00:35:58,400 --> 00:36:02,560
Speaker 2: the one, right. So essentially avoid being scammed, my friends,

750
00:36:02,640 --> 00:36:03,680
Speaker 2: that's what we're trying to do.

751
00:36:04,760 --> 00:36:06,840
Speaker 4: Trust the pros, Trust the pros.

752
00:36:06,960 --> 00:36:08,320
Speaker 2: Are you ready for number four?

753
00:36:09,080 --> 00:36:10,800
Speaker 4: Number four? Let's go, George.

754
00:36:10,960 --> 00:36:14,359
Speaker 2: Number four is protect your wealth. There are a number

755
00:36:14,400 --> 00:36:18,040
Speaker 2: of risks obviously associated with attempting to become rich and

756
00:36:18,160 --> 00:36:21,480
Speaker 2: becoming wealthy, and it is so easy to lose money

757
00:36:21,560 --> 00:36:24,880
Speaker 2: or make a poor investment. So to minimize risk, The

758
00:36:24,960 --> 00:36:27,839
Speaker 2: Richest Man in Babylon says that you need to learn

759
00:36:27,920 --> 00:36:32,120
Speaker 2: from people who have successfully built wealth and kept it

760
00:36:32,200 --> 00:36:35,680
Speaker 2: for long periods of time. The recommendation on this one

761
00:36:35,760 --> 00:36:38,400
Speaker 2: is surround yourself with people who are familiar with money,

762
00:36:38,560 --> 00:36:41,879
Speaker 2: who work with it each day, and who ideally make

763
00:36:41,920 --> 00:36:45,200
Speaker 2: lots of it. The other recommendation in this chapter is

764
00:36:45,200 --> 00:36:47,239
Speaker 2: you want to spread your wealth out. You do not

765
00:36:47,360 --> 00:36:49,719
Speaker 2: want your investments to all be in one place, or

766
00:36:49,719 --> 00:36:53,880
Speaker 2: one stock or one bond. Doing so is arguably too risky,

767
00:36:54,200 --> 00:36:57,520
Speaker 2: so the book recommends that you diversify your investments based

768
00:36:57,560 --> 00:37:00,920
Speaker 2: on logic so that you will make money. I feel

769
00:37:00,920 --> 00:37:03,440
Speaker 2: like they've listened to the podcast before, George.

770
00:37:03,760 --> 00:37:05,319
Speaker 4: I think they've stolen your work.

771
00:37:05,520 --> 00:37:05,759
Speaker 5: Yeah.

772
00:37:06,320 --> 00:37:10,399
Speaker 2: Literally, all right, let's move on, g because number five

773
00:37:10,520 --> 00:37:13,600
Speaker 2: probably isn't. She's on the money advice. Are you ready?

774
00:37:14,560 --> 00:37:17,040
Speaker 2: Number five is own your own house.

775
00:37:17,760 --> 00:37:21,640
Speaker 3: Well, that's pretty much impossible, so thanks a lot, George.

776
00:37:22,120 --> 00:37:29,720
Speaker 2: Thanks George. Two, and we can't afford property, so rude. Anyway.

777
00:37:29,840 --> 00:37:32,720
Speaker 2: Number five is own your own house because apparently owning

778
00:37:32,760 --> 00:37:36,759
Speaker 2: property gives a person more confidence. They say in the

779
00:37:36,760 --> 00:37:39,640
Speaker 2: book that renting a property is an easy way to

780
00:37:39,680 --> 00:37:42,480
Speaker 2: waste money. They say that you're simply giving your money

781
00:37:42,480 --> 00:37:45,440
Speaker 2: away to another landlord. They say it is better to

782
00:37:45,440 --> 00:37:47,719
Speaker 2: take out a loan and buy a property. When the

783
00:37:47,760 --> 00:37:50,120
Speaker 2: loan is paid off, you then own that house and

784
00:37:50,160 --> 00:37:52,359
Speaker 2: you can do whatever you want with it. You can

785
00:37:52,440 --> 00:37:55,480
Speaker 2: even start renting out that property as a fourth investment.

786
00:37:55,800 --> 00:37:58,440
Speaker 2: But the book says the best case scenario is buying

787
00:37:58,440 --> 00:38:00,719
Speaker 2: a house without a loan. If you can do this,

788
00:38:00,800 --> 00:38:04,800
Speaker 2: then you definitely should blow. Yeah, I, as a financial advisor,

789
00:38:04,880 --> 00:38:08,759
Speaker 2: can't agree with that. I mean it's probably I as

790
00:38:08,800 --> 00:38:11,640
Speaker 2: a financial advisor, can't agree with that. In fact, it's

791
00:38:11,800 --> 00:38:15,640
Speaker 2: probably advice that worked four thousand years ago in Babylon,

792
00:38:15,760 --> 00:38:18,319
Speaker 2: but like, probably not today. Like I don't know if

793
00:38:18,320 --> 00:38:20,359
Speaker 2: he knows what our interest rates are, they're pretty good,

794
00:38:20,440 --> 00:38:24,200
Speaker 2: but the cluster property nowadays is a bit too hard

795
00:38:24,239 --> 00:38:27,200
Speaker 2: to swallow. So like, nice, try, George, you did good. Yep,

796
00:38:28,040 --> 00:38:29,960
Speaker 2: let's just move on to number six. Let's move on

797
00:38:30,640 --> 00:38:33,400
Speaker 2: number six. I do love, So we're back on track. George,

798
00:38:33,400 --> 00:38:37,440
Speaker 2: we're back on track. Number six is ensure a future income.

799
00:38:38,040 --> 00:38:41,080
Speaker 2: So he says that you always need to look forward

800
00:38:41,120 --> 00:38:45,800
Speaker 2: to the future. Financial circumstances can change dramatically and really quickly,

801
00:38:46,080 --> 00:38:47,879
Speaker 2: So what you need to do is have a plan

802
00:38:47,960 --> 00:38:50,879
Speaker 2: in place in case circumstances are worsened for you. An

803
00:38:50,880 --> 00:38:52,800
Speaker 2: example of this in the book was that you become

804
00:38:52,840 --> 00:38:55,600
Speaker 2: too ill to work, or maybe a specific industry isn't

805
00:38:55,640 --> 00:38:58,680
Speaker 2: needed anymore. You want to have investments in place that

806
00:38:58,760 --> 00:39:02,800
Speaker 2: are leveraging compound interest, and you also want to develop

807
00:39:02,800 --> 00:39:06,240
Speaker 2: a passive income stream that will keep coming in after

808
00:39:06,280 --> 00:39:10,839
Speaker 2: you don't work anymore. Cough superanuation cough. This will help

809
00:39:10,880 --> 00:39:13,680
Speaker 2: account for factors that could potentially pop up in the future,

810
00:39:13,760 --> 00:39:16,520
Speaker 2: like becoming not well or being too old to work.

811
00:39:16,880 --> 00:39:20,040
Speaker 2: So that is something we definitely agree with Jking.

812
00:39:19,960 --> 00:39:22,320
Speaker 4: One hundred percent. Super is very important.

813
00:39:22,520 --> 00:39:24,640
Speaker 2: Moving on, we're trying to be fast. I mean we're

814
00:39:24,640 --> 00:39:27,480
Speaker 2: not because I'm really excited about this. You'll be like Victoria.

815
00:39:27,520 --> 00:39:28,920
Speaker 2: It would have taken the same amount of time to

816
00:39:28,960 --> 00:39:31,880
Speaker 2: read the book, but whatever. And g Number seven of

817
00:39:31,960 --> 00:39:35,240
Speaker 2: ourcads seven cures in the book is invest in yourself,

818
00:39:35,280 --> 00:39:36,839
Speaker 2: which I think we can all agree with.

819
00:39:37,280 --> 00:39:38,960
Speaker 4: Oh gorgeous, agreed.

820
00:39:39,239 --> 00:39:43,160
Speaker 2: Your most valuable asset of all is your mind. So

821
00:39:43,520 --> 00:39:46,279
Speaker 2: to maximize the ability to gain wealth, you have to

822
00:39:46,320 --> 00:39:49,399
Speaker 2: invest in yourself. They say you need to improve your

823
00:39:49,440 --> 00:39:52,359
Speaker 2: earning potential and you can do this by acquiring new

824
00:39:52,360 --> 00:39:55,520
Speaker 2: skills and not laughting for acquiring wealth during that period.

825
00:39:55,920 --> 00:39:59,160
Speaker 2: So think about how you could be earning more money.

826
00:39:59,400 --> 00:40:02,960
Speaker 2: Then consider what changes you need to make yourself that

827
00:40:03,120 --> 00:40:06,720
Speaker 2: make that potential wealth generation a reality, and then invest

828
00:40:06,800 --> 00:40:10,120
Speaker 2: in yourself to make those changes. So learning a new

829
00:40:10,120 --> 00:40:13,080
Speaker 2: skill or investing in yourself could be anything. They recommend

830
00:40:13,160 --> 00:40:16,440
Speaker 2: things like changing to be more healthy habits like walking more,

831
00:40:16,560 --> 00:40:19,480
Speaker 2: or reading helpful books before bed, or cutting out a

832
00:40:19,480 --> 00:40:22,040
Speaker 2: bad spending habit. So I think we can all agree

833
00:40:22,080 --> 00:40:23,480
Speaker 2: that that's probably a good tip.

834
00:40:24,120 --> 00:40:28,000
Speaker 4: Definitely. Okay, So they're the lessons or whatever you said before.

835
00:40:28,360 --> 00:40:30,360
Speaker 2: Yeah, a seven qs g.

836
00:40:31,520 --> 00:40:33,240
Speaker 4: What are the five laws of gold?

837
00:40:33,480 --> 00:40:35,400
Speaker 2: That so you can smash through the five laws of

838
00:40:35,400 --> 00:40:38,200
Speaker 2: gold very quickly, It's not going to be a little

839
00:40:38,200 --> 00:40:41,640
Speaker 2: summary of each. In the book, George provides us with

840
00:40:41,719 --> 00:40:44,400
Speaker 2: a summary of how to make money great. He calls

841
00:40:44,440 --> 00:40:47,360
Speaker 2: these the five laws of gold. Number one, he says

842
00:40:47,400 --> 00:40:50,000
Speaker 2: gold comes easily to those who save at least ten

843
00:40:50,080 --> 00:40:54,680
Speaker 2: percent of their earnings. Number two, gold labors diligently and

844
00:40:54,840 --> 00:40:58,960
Speaker 2: multiplies for people who find this gold a profitable employment.

845
00:41:00,080 --> 00:41:03,759
Speaker 2: Number three, gold clings to the people who invest their

846
00:41:03,800 --> 00:41:08,359
Speaker 2: gold with wise people. Number four gold slips away from

847
00:41:08,360 --> 00:41:12,920
Speaker 2: people who invest in unfamiliar purposes, and number five gold

848
00:41:13,120 --> 00:41:17,760
Speaker 2: flees from people who force gold into impossible earnings, which

849
00:41:17,800 --> 00:41:20,160
Speaker 2: I think we can all go hmmm. I feel like

850
00:41:20,200 --> 00:41:23,759
Speaker 2: that makes sense because obviously is trying to say, Look,

851
00:41:24,000 --> 00:41:27,399
Speaker 2: if you're trying to force money into impossible areas, it's

852
00:41:27,520 --> 00:41:30,120
Speaker 2: very likely you're going to lose it. And if you're

853
00:41:30,239 --> 00:41:34,360
Speaker 2: investing with people you don't trust or in unfamiliar asset classes,

854
00:41:34,480 --> 00:41:37,000
Speaker 2: like it might slip away because you don't know what

855
00:41:37,000 --> 00:41:38,759
Speaker 2: you're doing. So I feel like there's a lot of

856
00:41:38,800 --> 00:41:42,520
Speaker 2: good lessons to learn there, but to summarize g because

857
00:41:42,600 --> 00:41:45,120
Speaker 2: we are done here, Like, I'm sure you're sick of

858
00:41:45,160 --> 00:41:47,600
Speaker 2: me talking about this book, but now you can pretend

859
00:41:47,600 --> 00:41:50,000
Speaker 2: that at brunch you read the books Like this could

860
00:41:50,040 --> 00:41:52,280
Speaker 2: become a whole side podcast. What do you reckon?

861
00:41:53,480 --> 00:41:55,839
Speaker 3: Yeah, I think the girls are going to love this.

862
00:41:55,960 --> 00:41:58,880
Speaker 3: At brunch tomorrow, they're going to be asking me all

863
00:41:58,880 --> 00:42:01,120
Speaker 3: the questions, seek down.

864
00:42:02,640 --> 00:42:03,400
Speaker 4: Lessons to tell you.

865
00:42:03,480 --> 00:42:05,279
Speaker 2: But I do think it's really important because so many

866
00:42:05,320 --> 00:42:08,000
Speaker 2: people say things like they which finance books should I read?

867
00:42:08,040 --> 00:42:10,719
Speaker 2: And I go, oh, look, here's my favorite one. I

868
00:42:10,760 --> 00:42:13,240
Speaker 2: really like it because it's the principles and it's the rules,

869
00:42:13,239 --> 00:42:14,880
Speaker 2: and it's the things that I really want you to

870
00:42:14,960 --> 00:42:18,319
Speaker 2: get a base understanding of before you start trying to

871
00:42:18,360 --> 00:42:21,000
Speaker 2: talk about strategy and before I start being like, well,

872
00:42:21,040 --> 00:42:22,880
Speaker 2: this is what the investment is like, I want you

873
00:42:23,000 --> 00:42:25,600
Speaker 2: to understand why you're investing, and I guess is a

874
00:42:25,640 --> 00:42:28,600
Speaker 2: way always start with money stories and understanding yourself. But

875
00:42:29,440 --> 00:42:32,960
Speaker 2: to summarize the Richest Man in Babylon, essentially, the secret

876
00:42:32,960 --> 00:42:35,840
Speaker 2: to creating wealth is spending as little as possible, saving

877
00:42:35,880 --> 00:42:38,320
Speaker 2: money so that you can invest, and investing in yourself

878
00:42:38,400 --> 00:42:41,640
Speaker 2: so that you can seize financial opportunities as they come up.

879
00:42:42,000 --> 00:42:44,640
Speaker 2: To become rich, you need to think about your money

880
00:42:44,840 --> 00:42:47,120
Speaker 2: like a tree. In the book, they say that trees

881
00:42:47,160 --> 00:42:49,439
Speaker 2: grow very slowly from the seed, and that they need

882
00:42:49,480 --> 00:42:52,920
Speaker 2: water and like to flourish, and the seven cures are

883
00:42:52,920 --> 00:42:55,960
Speaker 2: the food for your money tree. That said, they actually

884
00:42:55,960 --> 00:42:59,720
Speaker 2: can't help grow your money tree without hard work and consistency.

885
00:43:00,040 --> 00:43:02,600
Speaker 2: So the recommendation is to set out a logical plan

886
00:43:02,920 --> 00:43:06,080
Speaker 2: and stick to your financial plan. If you do this

887
00:43:06,239 --> 00:43:10,160
Speaker 2: and you work really hard, then money will accrue surprisingly quickly.

888
00:43:10,719 --> 00:43:12,600
Speaker 2: That's the summary of the book.

889
00:43:12,440 --> 00:43:14,840
Speaker 3: Jeking, well done, V. I think it's very cool that

890
00:43:14,880 --> 00:43:17,960
Speaker 3: a book written more than one hundred years ago still

891
00:43:18,239 --> 00:43:20,239
Speaker 3: stands up. I think that's really really good.

892
00:43:20,239 --> 00:43:22,000
Speaker 2: I think it still stands up, and that's why I

893
00:43:22,200 --> 00:43:24,080
Speaker 2: like to start with that one. And I know that

894
00:43:24,360 --> 00:43:26,680
Speaker 2: it is dry and I've just told you all about

895
00:43:26,680 --> 00:43:29,040
Speaker 2: it so that you don't have to read it yourself.

896
00:43:29,320 --> 00:43:31,759
Speaker 2: In saying that, I think I've lost count of how

897
00:43:31,800 --> 00:43:33,600
Speaker 2: many times I've read it because I just really like it.

898
00:43:33,600 --> 00:43:36,640
Speaker 2: It makes me feel at home. But let me know

899
00:43:36,680 --> 00:43:39,080
Speaker 2: if you've got another book, or if you hated this segment,

900
00:43:39,239 --> 00:43:41,920
Speaker 2: let us know. Imagine if this was a whole pod,

901
00:43:41,960 --> 00:43:44,920
Speaker 2: I reckon we could do like bonus episodes where Victoria's

902
00:43:44,920 --> 00:43:46,880
Speaker 2: finished a book and I'm just excited to tell you

903
00:43:46,960 --> 00:43:47,439
Speaker 2: about it.

904
00:43:48,000 --> 00:43:49,800
Speaker 4: I'll co host that with you. I love that idea.

905
00:43:49,880 --> 00:43:52,560
Speaker 2: All right, it's on, Gking, It's on. But I do

906
00:43:52,640 --> 00:43:55,600
Speaker 2: think g that's all we have time for today. So

907
00:43:55,960 --> 00:43:57,960
Speaker 2: just before we head off, we'd like to acknowledge and

908
00:43:58,080 --> 00:44:01,880
Speaker 2: pay respect to Australia's Aboriginal and torrist Right islander peoples.

909
00:44:02,160 --> 00:44:05,160
Speaker 2: They're the traditional custodians of the lands, the waterways and

910
00:44:05,200 --> 00:44:08,760
Speaker 2: the skies all across Australia. We thank you for sharing

911
00:44:08,800 --> 00:44:10,759
Speaker 2: and for caring for the land on which we are

912
00:44:10,800 --> 00:44:14,240
Speaker 2: able to learn. We pay respects to elders past and present,

913
00:44:14,280 --> 00:44:16,920
Speaker 2: and we share our friendship and our kindness.

914
00:44:17,160 --> 00:44:19,840
Speaker 3: And remember, guys, the advice sheed on She's on the

915
00:44:19,840 --> 00:44:22,879
Speaker 3: Money is general in nature and does not consider your

916
00:44:22,920 --> 00:44:24,320
Speaker 3: individual circumstances.

917
00:44:24,800 --> 00:44:25,840
Speaker 4: She's on the Money.

918
00:44:25,680 --> 00:44:29,240
Speaker 3: Exists purely for educational purposes and should not be relied

919
00:44:29,320 --> 00:44:32,560
Speaker 3: upon to make an investment or a financial decision. And

920
00:44:32,640 --> 00:44:36,600
Speaker 3: we promise Victoria Devine is an authorized representative of Australia

921
00:44:36,640 --> 00:44:40,919
Speaker 3: Pacific Funds Management Proprietorly Limited ABN three four one three

922
00:44:40,960 --> 00:44:43,719
Speaker 3: two four six three two five seven AFOSL three through

923
00:44:43,840 --> 00:44:44,840
Speaker 3: nine one five one.

924
00:44:45,600 --> 00:44:47,560
Speaker 2: You forgot to mention that I'm also now a qualified

925
00:44:47,560 --> 00:44:50,719
Speaker 2: book reviewer. Thank you, yep, thank you. So we won't

926
00:44:50,760 --> 00:44:52,799
Speaker 2: be reviewing that She's on the Money book because I

927
00:44:52,800 --> 00:44:54,200
Speaker 2: think that that will be too biased.

928
00:44:54,280 --> 00:44:55,640
Speaker 4: So well, it's ten out of ten.

929
00:44:55,800 --> 00:44:57,399
Speaker 2: We are solid at ten out of ten. But if

930
00:44:57,400 --> 00:44:59,480
Speaker 2: anybody else would like to recommend a book for me to,

931
00:45:00,000 --> 00:45:01,520
Speaker 2: if you will have a read of, or even just

932
00:45:01,520 --> 00:45:03,040
Speaker 2: read in my own time, let me know.

933
00:45:03,080 --> 00:45:06,680
Speaker 4: Slide into also send us through your money questions. Guys.

934
00:45:06,760 --> 00:45:09,440
Speaker 3: We love listening to them and we want more, so

935
00:45:09,560 --> 00:45:10,680
Speaker 3: send them to see you later guys.

936
00:45:10,680 --> 00:45:10,919
Speaker 2: Bye,