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Speaker 1: She's on the Money.

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Speaker 2: She's on the Money. Hello and welcome to She Is

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Speaker 2: on the Money, the podcast for millennials who want financial freedom.

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Speaker 2: My name is Georgia King. I'm a copywriter and journalism

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Speaker 2: student with lots left to leone when it comes to money. Thankfully,

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Speaker 2: as always here to help us all out is Melbourne

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Speaker 2: based financial advisor Victoria Devine.

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Speaker 3: Hello remotely, Georgia King.

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Speaker 2: Hello dev I just called you Devo. Sorry about that noway,

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Speaker 2: I know problems.

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Speaker 3: Shout out to my little sister who is the real

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Speaker 3: Devo here.

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Speaker 2: They look the same. Today on the show, we are

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Speaker 2: going to be tackling a huge topic that we think

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Speaker 2: is really important that we had to chat about, and

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Speaker 2: that is mental health and money. Given the undeniable garbage

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Speaker 2: fire that has been twenty twenty, we think there's probably

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Speaker 2: never been a more necessary moment than right now, really

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Speaker 2: to address the financial struggle that many of us are feeling,

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Speaker 2: as well as the struggles that come along with that.

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Speaker 2: Plus will be helping answer a cork of a money

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Speaker 2: question from someone who is feeling a little stuck in

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Speaker 2: an unemployed rut. And we'll hear from a money diarist

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Speaker 2: whose horrible housemate left her in lots of debt. Before

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Speaker 2: we do get there, though, it would be rude not

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Speaker 2: to chat about our money wins and confessions from the week, Victoria,

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Speaker 2: what if you got for me?

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Speaker 3: That would be absolutely rude of us. But do you

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Speaker 3: know what's hilarious before I jump into that, the fact

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Speaker 3: that you called twenty twenty an undeniable garbage fire. I

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Speaker 3: kind of loved.

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Speaker 2: That, right. I don't think anyone could disagree with that.

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Speaker 2: Disagree with that, disagree with.

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Speaker 3: That, no, no, I will not disagree with that. But

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Speaker 3: what I loved was that I haven't heard anyone call

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Speaker 3: it an undeniable garbage fire, because that's absolutely what it is.

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Speaker 3: I have, however, heard a lot of corporate emails going

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Speaker 3: around at the moment and they all start with hello, Victoria,

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Speaker 3: I hope you're well during these unprecedented times. You would

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Speaker 3: say that, yeah, because it's on everything. I'm so sick

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Speaker 3: of the words.

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Speaker 2: So it's just change it. Businesses need to be pivoting,

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Speaker 2: you know what I'm saying.

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Speaker 3: Yeah, pivoting On'm like, just you know what, get in

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Speaker 3: the bin because it's a garbage fire exactly.

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Speaker 2: Now, talk to me about your money wins, all right,

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Speaker 2: so I like the tangent.

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Speaker 3: Yeah, thank you. Sorry, this is very strange to be

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Speaker 3: recording remotely, but do you know what I'm here for it, Georgia.

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Speaker 3: I have a money win this week and it is

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Speaker 3: probably not one that you would expect, but it's one

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Speaker 3: that we all should care about, and that is sunscreen.

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Speaker 3: So I'm definitely using my one hour of freedom every

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Speaker 3: single day to go on a walk, and I always

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Speaker 3: wear fifty SPF sunscreen. The thing is, I have super

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Speaker 3: sensitive skin and I have tried so many sunscreens. I

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Speaker 3: cannot begin to tell you how many sunscreens.

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Speaker 1: I have tried.

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Speaker 3: I have been buying left, right and center sunscreens for

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Speaker 3: the last few years, and for me, I have found

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Speaker 3: the OG and it is twelve dollars at Chemist Square House.

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Speaker 3: So this is absolutely not sponsored, although if the cancer came.

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Speaker 3: Auncil Sunscreen Face Day where moisturizer Matt, which is the

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Speaker 3: one I'm obsessed with at the moment. It's invisible, has

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Speaker 3: no color to it, sits under my makeup perfectly, sits

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Speaker 3: by itself, perfectly super moisturizing. Like I think I'm going

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Speaker 3: to become some kind of skin care blogger, so here

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Speaker 3: for this. But I'm loving this sunscreen at the moment,

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Speaker 3: and I think that money win at being twelve dollars

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Speaker 3: and more recently, I think I got it for fifty

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Speaker 3: percent off during a sale.

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Speaker 2: Stop that I know. Okay, mine's nice and quick. This week,

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Speaker 2: it was going to be a confession. I paid my

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Speaker 2: phone bill late, so I was waiting for that late

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Speaker 2: fee Georgia, Yeah, yeah, yeah. But then my phone bill

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Speaker 2: for this month comes around, no late fee attached, guys,

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Speaker 2: so that's a win.

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Speaker 3: That's that's a win. But like, also, Georgia King, you're

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Speaker 3: a part of the Shees on the Money team. What

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Speaker 3: are you doing?

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Speaker 2: I know, I feel like I shouldn't be the co

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Speaker 2: host of this podcast, like I'm awful with me.

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Speaker 3: No, I love you. You are here for a reason,

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Speaker 3: and that reason is you don't pay phone bills on time,

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Speaker 3: and I feel like that's super relatable. We've all been there.

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Speaker 3: I only pay my phone bill on time because it's

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Speaker 3: direct debited. Let's be honest, and that's what I need

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Speaker 3: to do, so you know, we'll get there. That can

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Speaker 3: be my goal for this week.

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Speaker 2: Anyway.

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Speaker 3: I love to move.

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Speaker 2: Along and have a little look at the Facebook community, Victoria,

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Speaker 2: did any posts stick out to you this week?

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Speaker 3: Yes, it did, and I called DIBs on this post

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Speaker 3: very early on when we're planning this episode. So this

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Speaker 3: one is from our friend Josie and she said money

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Speaker 3: slash life win. I always like her when people make

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Speaker 3: big calls like that, but reading her text, absolute life win.

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Speaker 3: She said. My partner and I have always wanted a

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Speaker 3: Groodle puppy, but as we're going through IVF, it's never

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Speaker 3: been an option as they sell for around seven thousand

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Speaker 3: dollars each and dogs can be so expensive. Georgia insanity.

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Speaker 3: She said, Well, my partner found this nine month old

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Speaker 3: grudle needing to be rehomed for family reasons, and my

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Speaker 3: partner bought her for me to help me get through

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Speaker 3: the mental journey of IVF. We already have a Golden Retriever,

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Speaker 3: so she's the perfect fit for our family. We are happy.

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Speaker 3: Plus we're keeping in contact with the original owners so

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Speaker 3: they can watch her grow up. How sweet is that?

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Speaker 2: So sweet? And it's like the cutest dog I've ever seen.

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Speaker 3: She's so sweet. She's like cuddled up in a bed

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Speaker 3: and oh my heart, I love dogs. I just love

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Speaker 3: animals in general, and Josie, good luck for your IVF journey.

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Speaker 3: That is such a big thing to go through, and

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Speaker 3: I'm so glad that you have a new friend to

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Speaker 3: go through all with. Georgia, have you got a money

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Speaker 3: in from the community to share with us this week?

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Speaker 2: I do. I love this one. So this one's from

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Speaker 2: New York and she was the lovely lady who posted

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Speaker 2: about the herbs and spices, so you guys would know

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Speaker 2: if you buy your herbs it, you know, woolies or coals,

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Speaker 2: it's probably like two bucks, so it's pretty cheap, two bucks,

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Speaker 2: two dollars fifty. But instead of buying new herbs on

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Speaker 2: her grocery hole, she went to a bulk food stop

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Speaker 2: and just refilled the herbs that she needed into a

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Speaker 2: little containers and it costs So she's got thirty two

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Speaker 2: cents for paprika instead of two dollars fifty, mixed herbs

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Speaker 2: through eighteen cents instead of two dollars fifty, twenty four

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Speaker 2: cents of basil powder instead of two dollars fifty. So

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Speaker 2: you know, it's a small win, but it's amazing. It's

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Speaker 2: better for the environment. It's ticking all of those boxes.

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Speaker 1: I love so that.

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Speaker 2: I thought that was really cool.

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Speaker 3: I love that that's good for our back pocket and

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Speaker 3: also good for the environment. And refilling stuff is so

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Speaker 3: satisfactionary sat a word satisfy. I'm just making up words

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Speaker 3: on my podcast today. It is so satisfying. And do

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Speaker 3: you know what that means? That you can just like

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Speaker 3: get matching jars along the way and just like have

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Speaker 3: a really nice looking pantry. I'm here for it. Just

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Speaker 3: refeel you are here for that. Absolutely love a good

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Speaker 3: money win about food.

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Speaker 2: Yeah, very very wholesome wins this week. I'm into it.

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Speaker 3: Dogs and snacks my favorite kind of wins.

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Speaker 2: Exactly. Should we move on to the main chat for today.

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Speaker 3: Of course we could. I'm very excited about this one

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Speaker 3: because I think it's going to be so impactful and

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Speaker 3: so powerful and so relevant right now for everybody.

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Speaker 2: Let's go, all right, so today we're going to be

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Speaker 2: delving into the topic of mental health and money.

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Speaker 4: Now.

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Speaker 2: One of the key reasons we wanted to address this

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Speaker 2: topic today was that sometimes it can be really hard

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Speaker 2: to talk about mental health and even admit to yourself,

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Speaker 2: let alone others that you may be struggling. So obviously

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Speaker 2: the pandemic has caused complete devastation right around the globe

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Speaker 2: from a health perspective, and we've seen close to one

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Speaker 2: million people lose their lives. So today we really wanted

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Speaker 2: to start out this chat by acknowledging that and by

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Speaker 2: sending our love to the families and friends impacted directly

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Speaker 2: by the virus. The main intention of today's show, though,

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Speaker 2: is to shed a little light on the subtle impact

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Speaker 2: COVID has on our mental health, not just in regards

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Speaker 2: to people who have contracted the virus and lost loved ones,

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Speaker 2: but also for those who've lost their jobs or who

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Speaker 2: have taken a significant financial hit, as we know how

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Speaker 2: strongly mental health is linked with our financial well being. Also,

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Speaker 2: today we want to have a conversation for those whose

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Speaker 2: lives may not have changed as drastically as others, but

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Speaker 2: who are maybe still feeling that sense of anxiety or

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Speaker 2: stress about the state of things, and who also might

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Speaker 2: be feeling a little bit guilty about reacting that way. Spoilers,

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Speaker 2: you definitely shouldn't be feeling guilty, which we'll talk about

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Speaker 2: a little later on. So Victoria, start us off before

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Speaker 2: we really get into it. Can you talk to me

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Speaker 2: a little bit about what this year's been like for you.

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Speaker 3: Do you know what, Georgia. I think you summed it

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Speaker 3: up really well before when you called this year a

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Speaker 3: garbage fire, and I feel like that's potentially the best

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Speaker 3: example of what it has been like for me. You

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Speaker 3: know what, that might be a little bit dramatic. I

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Speaker 3: do have to acknowledge that I have been quite lucky.

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Speaker 3: I am still employed, I am still in a situation

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Speaker 3: where I'm able to continue on my podcast and I

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Speaker 3: get to work with you remotely. And things have changed

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Speaker 3: or pivoted, Georgia, but they, you know, they aren't the worst.

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Speaker 3: But I think that when you said subtle impact of

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Speaker 3: COVID on our mental health, I kind of just thinking,

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Speaker 3: is it actually subtle or is it really serious? Because

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Speaker 3: for me, I know my mental health is suffering. I

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Speaker 3: know I'm putting a lot of effort and energy into

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Speaker 3: trying to make sure that my mental health is stable

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Speaker 3: and that I am okay. But I think that all

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Speaker 3: of us, let's be honest, whether you've still got your

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Speaker 3: job or not, whether you've been financially impact or not,

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Speaker 3: you're feeling a little bit flat and deflated, especially if

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Speaker 3: you are living like you and I Georgia down here

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Speaker 3: in Melbourne where we're in stage four lockdown. So for me,

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Speaker 3: this episode couldn't have been better timed. I feel like

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Speaker 3: more recently, everyone's kind of gotten over zoom. It's like

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Speaker 3: everyone has a bit of zoom fatigue. So we're not

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Speaker 3: catching up with people speaking to people in our community

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Speaker 3: every single day about how they're living alone and they're

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Speaker 3: just struggling with the isolation. And I just feel like

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Speaker 3: it's been hard for me, but I think it's been

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Speaker 3: arguably a lot harder for other people. And I just

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Speaker 3: want to start talking about this because mental health is

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Speaker 3: so important, and mental health is something that impacts us all.

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Speaker 3: And if you think mental health hasn't impacted you, I

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Speaker 3: think that maybe you're not looking at it from the

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Speaker 3: right lens, because we all have mental health, and I

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Speaker 3: think that, you know, just pointing out here, mental health

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Speaker 3: and mental illness are two different things. We all have

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Speaker 3: mental health and we all have to look after it

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Speaker 3: in exactly the same way that we look after our

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Speaker 3: physical health. So for me, it's been a little bit

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Speaker 3: up and down. It's been a little bit crazy workwise.

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Speaker 3: Lots of stuff has happened. There's been some incredibly exciting things.

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Speaker 3: There's also, for me, been a fair few lows, but

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Speaker 3: that's totally okay. But for me, I think it's more around,

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Speaker 3: you know, really recognizing that I'm in quite a lucky position,

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Speaker 3: and I think before we go on any further, I

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Speaker 3: really want to mention our friends in our community, our

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Speaker 3: healthcare workers and all the other essential workers who are

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Speaker 3: out there risking literally risking their own safety each day

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Speaker 3: for us, and I know that they would be suffering

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Speaker 3: from a level of physical and mental exhaustion. So for me,

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Speaker 3: I just want to really send out my love to

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Speaker 3: them and just let them know that we're thinking of

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Speaker 3: them and we are so grateful that you're doing this.

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Speaker 3: It's because of you, guys that we are getting through it.

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Speaker 3: So that's where I'm at, Georgia King, And I know

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Speaker 3: that's a little bit randy, but that's not uncommon for

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Speaker 3: me to be ranty on this podcast. But before I

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Speaker 3: let you ask your next question, which I can see

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Speaker 3: you jumping in to try and ask, I just wanted

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Speaker 3: to quickly disclaim this chat by saying that you know,

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Speaker 3: neither of us are psychologists. Yes, we're talking about mental

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Speaker 3: health because it is something that is really relevant to us,

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Speaker 3: and it is really relevant to our community. But we

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Speaker 3: are not at psychologists and we are not going to

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Speaker 3: pretend to be if you are having a particularly tough

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Speaker 3: time at the moment. We've linked a number of different

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Speaker 3: resources in the show notes for you to utilize, and

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Speaker 3: we'll be talking about some of them further along in

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Speaker 3: this chat as well. But to quickly plug one of

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Speaker 3: our own products, Georgia King, It's not even a product,

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Speaker 3: it's just something that I'm getting up to in IO.

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Speaker 3: I have got registered psychologist and my friend Brianna Sada

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Speaker 3: on webinars with us more recently, and we have been

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Speaker 3: running every Thursday night at eight pm, So there'll be

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Speaker 3: one tomorrow if you're actually listening to this podcast on

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Speaker 3: a Wednesday. Every Thursday night at eight pm, we're doing

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Speaker 3: a self care session, like a little psych session with

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Speaker 3: a psychologist. This coming week, we are going to be

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Speaker 3: talking about mindset and changing your mindset during a really

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Speaker 3: stressful time time. Last week we talked about anxiety, and

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Speaker 3: the week before we talked about self care and what

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Speaker 3: that actually means. And if you missed any of those

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Speaker 3: you can find them on our YouTube, so you can

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Speaker 3: watch them back or have a little bit of a listen.

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Speaker 3: But those resources that I think are really powerful because

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Speaker 3: we've got an actual psychologist who has come in and

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Speaker 3: giving us advice on how to get through this, and George,

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Speaker 3: the webinars are just a really nice session. I'm actually

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Speaker 3: having a glass of wine every time we do one

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Speaker 3: of these webinars, sitting down, We've got a live chat

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Speaker 3: going on, and we're answering questions from the community about

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Speaker 3: these topics and just having an hour where we forget

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Speaker 3: that COVID is a thing, just to talk about us

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Speaker 3: and you and your mental wellbeing. So that's just a

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Speaker 3: little plug. Those things aren't sponsored, they are just you

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Speaker 3: know that she's on the money community coming together to share.

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Speaker 3: Brianna is donating her time and I think it is

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Speaker 3: so generous for her to do so, and so I

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Speaker 3: just wanted to say right here that I am so

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Speaker 3: grateful for her for, you know, giving us that grace,

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Speaker 3: and I think that you know, it's impacted a lot

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Speaker 3: of people positively. So if you want to hang out

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Speaker 3: with us tomorrow, there is a link in our show

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Speaker 3: notes so that you can join us. But Georgia King,

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Speaker 3: let's keep going with the podcast. That is enough from me, No.

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Speaker 1: I loved it.

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Speaker 2: I should add as well there that all of our

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Speaker 2: self care sessions are free to get involved with, so

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Speaker 2: definitely join us.

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Speaker 3: Yes, absolutely, that is a really great point. They aren't

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Speaker 3: going to cost you anything except your time, and essentially

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Speaker 3: I want that to be any investment in your own

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Speaker 3: self care. So that is why we are doing it.

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Speaker 3: If we can do anything to impact mental health positively,

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Speaker 3: and getting advice from experts to me is essential, Like

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Speaker 3: I don't want to sit here and pretend that we

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Speaker 3: are experts. And that's why we are having this conversation today.

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Speaker 2: So moving on, V, why do you think it has

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Speaker 2: been such a hard year for so many of us

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Speaker 2: beyond the obvious spheres of just our own health and

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Speaker 2: safety and that of our loved ones.

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Speaker 3: You know what, Georgia. Obviously we're in the middle of

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Speaker 3: a pandemic, which is something so new to all of us.

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Speaker 3: We've not experienced this before. Because of that, our routines

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Speaker 3: have been completely thrown out. We're working from home, we

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Speaker 3: can't go to the gym, we can't see our friends,

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Speaker 3: and for so many people, including me, this has actually

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Speaker 3: had huge impacts as those routines were such big parts

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Speaker 3: of keeping us all sane. To me, the smallest pleasures

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Speaker 3: which we were so lucky to get to enjoy, like

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Speaker 3: travel or going out for meals or catching up with

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Speaker 3: people who make us happy, it feels like they've all

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Speaker 3: been stripped away, and that is a massive change for

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Speaker 3: us to be coping with, and to me, I feel

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Speaker 3: like it has only been now that I've really realized

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Speaker 3: how social I actually am. I've always known that I'm

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Speaker 3: incredibly introverted and I love time on my own. I'm

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Speaker 3: someone who does not get my energy from being around

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Speaker 3: other people. Like I love being around other people. I

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Speaker 3: love contributing, but I'm very much an online kind of contributor,

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Speaker 3: which is probably no surprise as to why I started

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Speaker 3: a Facebook group. But I do love my own time

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Speaker 3: and you know, going on walks by myself. And so

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Speaker 3: when we went into the first stage of ISO, I

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Speaker 3: was kind of like, you know what, this is going

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Speaker 3: to be, not too bad. I'm going to be fine.

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Speaker 3: But I didn't realize how much I'd miss my friends

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Speaker 3: or even just the social interaction of going into my

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Speaker 3: office every day and seeing my team and just seeing

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Speaker 3: what they were up to Humans are by nature social creatures,

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Speaker 3: so to be confined and kept away from the people

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Speaker 3: who actually bring us up and support us is a

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Speaker 3: huge part of this sense of sadness and angst that

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Speaker 3: many of us are feeling. So for me, I think

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Speaker 3: that it is incredibly important to just point that out,

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Speaker 3: like even if you are single and living at home

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Speaker 3: and you've been on your own for ages, even stuff

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Speaker 3: like the social interaction of jumping on the train every

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Speaker 3: day to go to work and just like their routine

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Speaker 3: associated with that, Like we miss those things because they

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Speaker 3: are what normalize us. So last week, Georgia I had

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Speaker 3: a webinar with Brianna and we were talking specifically about anxiety,

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Speaker 3: and she said that our anxiety response has been triggered

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Speaker 3: by the pandemic because our health is under threat, as

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Speaker 3: is the health of our loved ones, and this underlying

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Speaker 3: anxiety can actually place massive strain on our work and relationships.

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Speaker 3: And it absolutely makes sense that we be all feeling

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Speaker 3: flat or anxious at this point in time. And as

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Speaker 3: Brianna explained in the webinar, we are trapes in completely

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Speaker 3: new territory and we can't underestimate what actually living through

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Speaker 3: a pandemic means life is not now what it used

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Speaker 3: to be before. So accordingly, we need to be adjusting

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Speaker 3: our expectations. We need to be kind to ourselves and

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Speaker 3: realign our goals to fit with what is actually achievable

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Speaker 3: for us in this moment, because even people like me,

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Speaker 3: I'm looking at twenty twenty and going, oh, I should

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Speaker 3: have done so much more, or I should be in

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Speaker 3: a different position, or I should have finished this project

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Speaker 3: or that project. And Brianna said something really interesting that

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Speaker 3: really stuck with me last week, and that was we

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Speaker 3: need to change our language from I should have to

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Speaker 3: I would like to, but I'm not. And I think

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Speaker 3: that if we can change our mentality from I should

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Speaker 3: to I would like to, it makes sense like I

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Speaker 3: should be working on this project. It's like I would

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Speaker 3: like to be working on this project, but I'm not,

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Speaker 3: And I think that is okay, Like it is okay

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Speaker 3: to have things that have changed. And I think that

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Speaker 3: we need to just understand that, you know, this time

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Speaker 3: is completely quote unprecedented, but we need to keep in

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Speaker 3: mind that this time is not typical and we can't

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Speaker 3: be expected to operate at the same level we were

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Speaker 3: operating at or achieve what we were at the same

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Speaker 3: rate either. And I know that this all sounds really

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Speaker 3: randy again, because I feel like this is just like,

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Speaker 3: let's change it from She's on the money to Victoria's

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Speaker 3: rant fests. But for me, I think it's really important

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Speaker 3: to remember that right now is a really interesting time

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Speaker 3: to be having this conversation, because we are now six

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Speaker 3: months into this thing. Like, this isn't the one month thing.

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Speaker 3: I remember, Georgia, when you know, I think you were

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Speaker 3: in my office way back in like February or March.

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Speaker 3: I can't even remember. It feels like forever ago, and

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Speaker 3: we were talking about, oh, imagine if they put our

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Speaker 3: city into lockdown like Italy. Like I remember having this conversation,

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Speaker 3: and I, because I am a business owner, had to

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Speaker 3: work out what that meant for my team and work

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Speaker 3: out what that meant for everybody in my office. And

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Speaker 3: we made the decision to start working from home a

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Speaker 3: little bit earlier than most businesses did because we had

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Speaker 3: the ability to do that. So we did, and I

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Speaker 3: genuinely had this belief that it would be two or

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Speaker 3: three weeks. I was just like, Yeah, in a couple

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Speaker 3: of weeks, we'll be back it'll be fine, just work

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Speaker 3: from home for now. And it is now September and

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Speaker 3: we are now six months in and the novelty of

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Speaker 3: lockdown has absolutely worn off. There is absolutely no novelty

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Speaker 3: of it. People are over it and our spirits are waning.

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Speaker 3: So hopefully today we can look at some tools that

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Speaker 3: will help keep us buoyant.

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Speaker 2: I think another point just to jump in there as well,

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Speaker 2: V is that Brianna mentioned that the fatigue that we're

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Speaker 2: all feeling extends far beyond just COVID. In Australia, we've

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Speaker 2: been doing it tough since summer. Like we had the bushfires.

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Speaker 2: That was what we were switching on and watching on

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Speaker 2: the news every night. We were dealing with that horror,

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Speaker 2: which has now extended into this whole garbage fire of

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Speaker 2: a year. So I think just kind of understanding that

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Speaker 2: it completely makes sense that we're feeling this way. If

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Speaker 2: you're feeling extra flat like it's it's very normal. I

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Speaker 2: don't know, does that make sense.

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Speaker 3: No, It is so normal to be feeling overwhelmed. It

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Speaker 3: is so normal to have an underlying level of anxiety

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Speaker 3: at this point, and I think that that's what I

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Speaker 3: think we're missing. I think that too many people are

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Speaker 3: saying too many things about Oh no, Like I'm fine,

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Speaker 3: Like I get that maybe you're saying that, but like,

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Speaker 3: have a think about what that actually means for you.

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Speaker 3: And I know that social media, and I say this

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Speaker 3: all the time, and it sounds quite hypocritical because most

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Speaker 3: of our business and community is on social media, but

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Speaker 3: social media at the moment can be such a negative place.

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Speaker 3: We are seeing influencers post their new prider bags, and

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Speaker 3: then we're also seeing all of these entrepreneurs post these

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Speaker 3: motivational quotes that are like, you know, if you don't

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Speaker 3: come out of this pandemic with a new skill or

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Speaker 3: a new ability, you have used your time wrong. And

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Speaker 3: I just think that that's so backwards and just so

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Speaker 3: not what we needed at the moment. Like we are

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Speaker 3: trying to survive, not thrive, and I need you to

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Speaker 3: remember that because I think we're putting too much pressure

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Speaker 3: on ourselves. And you know this has now become just

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Speaker 3: a conversation, I guess between you and I. But last

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Speaker 3: week when we were doing the webinar, I had a

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Speaker 3: question from one of our live chat people and she said,

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Speaker 3: I'm feeling really down about the fact that my partner's

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Speaker 3: out of work and I am, you know, a breadwinner now,

435
00:20:29,280 --> 00:20:31,119
Speaker 3: but I have a low income and at the end

436
00:20:31,200 --> 00:20:33,959
Speaker 3: of every single month, I have no money left. And

437
00:20:34,000 --> 00:20:37,439
Speaker 3: I just said, like, girl, you are doing amazing, Like

438
00:20:37,560 --> 00:20:40,040
Speaker 3: how good is that that you still have money coming

439
00:20:40,040 --> 00:20:42,400
Speaker 3: in to be able to support your family? Like your

440
00:20:42,480 --> 00:20:45,639
Speaker 3: savings right now should not be your priority. And I know,

441
00:20:45,800 --> 00:20:49,240
Speaker 3: coming from me, it feels very strange to be giving

442
00:20:49,280 --> 00:20:52,879
Speaker 3: this advice, but it is true. I never thought that

443
00:20:52,920 --> 00:20:55,680
Speaker 3: the biggest pieces of advice that I, as a financial

444
00:20:55,680 --> 00:20:58,119
Speaker 3: advisor would give you guys, is you know, reach out

445
00:20:58,160 --> 00:21:00,760
Speaker 3: and see if there's any government assistance. You know, stop

446
00:21:00,760 --> 00:21:03,480
Speaker 3: putting pressure on yourself to save, like this is just

447
00:21:03,560 --> 00:21:06,399
Speaker 3: the year that happened. Like we can achieve everything. We

448
00:21:06,640 --> 00:21:09,280
Speaker 3: just need to put a holt to this and stop

449
00:21:09,320 --> 00:21:12,520
Speaker 3: putting pressure on ourselves to achieve during a time when

450
00:21:12,560 --> 00:21:13,760
Speaker 3: we should just be surviving.

451
00:21:14,000 --> 00:21:16,400
Speaker 2: I thought both you and Brianna V had so many

452
00:21:16,400 --> 00:21:19,760
Speaker 2: brilliant tips on keeping our mental states as healthy as possible,

453
00:21:20,080 --> 00:21:22,720
Speaker 2: So I thought I might recap some of those here

454
00:21:22,760 --> 00:21:24,199
Speaker 2: for you. If you have, I would so you can

455
00:21:24,280 --> 00:21:25,960
Speaker 2: jump in at any time if I know.

456
00:21:25,960 --> 00:21:27,879
Speaker 3: That it's okay. I think this will be really powerful

457
00:21:27,920 --> 00:21:29,640
Speaker 3: as well, because we did have a number of really

458
00:21:29,640 --> 00:21:32,399
Speaker 3: good tips. Let me let me know what your summary is.

459
00:21:32,440 --> 00:21:33,840
Speaker 3: Come on, let's go.

460
00:21:34,520 --> 00:21:38,359
Speaker 2: So first one, just remembering that your experience is valid,

461
00:21:38,400 --> 00:21:40,879
Speaker 2: which is what we were saying before. So just because

462
00:21:40,880 --> 00:21:43,880
Speaker 2: someone else might be having a worse time than you,

463
00:21:43,960 --> 00:21:47,200
Speaker 2: it doesn't mean it doesn't devalue what's happening for you

464
00:21:47,320 --> 00:21:50,159
Speaker 2: right now. Everything's relative, so it's okay to feel the

465
00:21:50,160 --> 00:21:52,159
Speaker 2: way you're feeling. That was my first one. Love that

466
00:21:52,440 --> 00:21:54,760
Speaker 2: maintaining a routine, which you mentioned above as well, v

467
00:21:55,040 --> 00:21:58,360
Speaker 2: where possible because they're so important, I know for personality

468
00:21:58,359 --> 00:22:02,880
Speaker 2: types like mine, writing lists, keeping busy, but just having

469
00:22:03,000 --> 00:22:05,479
Speaker 2: structure in your day just helps you get through it.

470
00:22:05,600 --> 00:22:08,240
Speaker 2: I think it helps you feel like you're achieving and

471
00:22:08,280 --> 00:22:11,359
Speaker 2: accomplishing and ticking things off the list, which kind of

472
00:22:11,400 --> 00:22:14,000
Speaker 2: helps propel you. For one hundred at least, I found that.

473
00:22:14,200 --> 00:22:16,480
Speaker 3: Yeah, no, one hundred percent, And I think it's really

474
00:22:16,480 --> 00:22:20,280
Speaker 3: important that, even if you're not employed right now, having

475
00:22:20,320 --> 00:22:23,040
Speaker 3: a list, even just like Okay, I'm going to get up,

476
00:22:23,040 --> 00:22:25,080
Speaker 3: I'm going to make my bed, I'm gonna, like you know,

477
00:22:25,160 --> 00:22:27,000
Speaker 3: clean the bathroom, I'm going to go for a walk,

478
00:22:27,040 --> 00:22:29,280
Speaker 3: and then I'm going to make Like even stuff like

479
00:22:29,320 --> 00:22:32,560
Speaker 3: that helps you creep a routine, and having a list

480
00:22:32,640 --> 00:22:36,440
Speaker 3: makes you feel structured, and structure is something that humans

481
00:22:36,600 --> 00:22:38,840
Speaker 3: thrive on. So if you're having a bit of a

482
00:22:38,840 --> 00:22:41,280
Speaker 3: hard time, write this down. Even write down that you

483
00:22:41,320 --> 00:22:43,800
Speaker 3: want to drink some extra you know, glasses of water.

484
00:22:44,000 --> 00:22:46,600
Speaker 3: Like write down some goals for the day that are

485
00:22:46,640 --> 00:22:49,119
Speaker 3: about self care, like I'm going to take five minutes

486
00:22:49,160 --> 00:22:51,040
Speaker 3: to just sit by myself and have a think. Or

487
00:22:51,080 --> 00:22:53,399
Speaker 3: I'm going to drink some extra water, or I'm going

488
00:22:53,480 --> 00:22:55,159
Speaker 3: to go for a walk with the dog. Like, write

489
00:22:55,160 --> 00:22:58,240
Speaker 3: these intentions down, because if you write your intentions down,

490
00:22:58,240 --> 00:22:59,960
Speaker 3: you are more likely to achieve them.

491
00:23:00,119 --> 00:23:04,320
Speaker 2: The next one was keeping a gratitude journal, which is

492
00:23:04,359 --> 00:23:07,440
Speaker 2: so not my style at all, but Brianna mentioned that

493
00:23:07,520 --> 00:23:11,000
Speaker 2: gratefulness is a big thing separating happy and unhappy people.

494
00:23:11,040 --> 00:23:12,879
Speaker 2: And I know you mentioned a few episodes ago be

495
00:23:13,040 --> 00:23:15,320
Speaker 2: that you do have a gratitude journal and that I

496
00:23:15,440 --> 00:23:18,000
Speaker 2: do make it a daily practice of writing down what

497
00:23:18,040 --> 00:23:20,000
Speaker 2: you're grateful for. So I think that's one of the

498
00:23:20,000 --> 00:23:22,840
Speaker 2: things that I'm going to start doing to keep pepped

499
00:23:22,920 --> 00:23:25,399
Speaker 2: up absolutely And do you know what I used to

500
00:23:25,400 --> 00:23:28,320
Speaker 2: think this was the lamest thing in the entire world.

501
00:23:28,359 --> 00:23:31,040
Speaker 2: I was like, I'm not keeping a journal, no, but

502
00:23:31,160 --> 00:23:34,639
Speaker 2: I feel like this gratitude journal has really helped ground me,

503
00:23:34,880 --> 00:23:36,600
Speaker 2: and I keep trying to think of really creative things

504
00:23:36,640 --> 00:23:39,240
Speaker 2: to put in my gratitude journal, but I'm often coming

505
00:23:39,280 --> 00:23:41,760
Speaker 2: back to the basics and like, I'm grateful for my

506
00:23:41,800 --> 00:23:44,440
Speaker 2: shoes on the money community, I'm grateful for my family,

507
00:23:44,520 --> 00:23:47,359
Speaker 2: I'm grateful for my breakfast. Like, they don't have to

508
00:23:47,400 --> 00:23:49,959
Speaker 2: be big things, they don't have to be massive. But

509
00:23:50,000 --> 00:23:53,480
Speaker 2: I really like pointing out to myself every single day

510
00:23:54,160 --> 00:23:56,359
Speaker 2: the small things, because the small things are really the

511
00:23:56,400 --> 00:23:58,400
Speaker 2: big things at the end of the day, Like they're

512
00:23:58,400 --> 00:24:00,720
Speaker 2: the things that matter to me. So, yeah, what else

513
00:24:00,800 --> 00:24:01,320
Speaker 2: is on the list?

514
00:24:01,320 --> 00:24:01,879
Speaker 3: Georgia?

515
00:24:01,920 --> 00:24:03,639
Speaker 2: So the last one, I mean, I could speak for

516
00:24:03,720 --> 00:24:07,359
Speaker 2: ages because it was such a powerful hour. It was

517
00:24:07,400 --> 00:24:10,119
Speaker 2: the idea of starting from the inside out rather than

518
00:24:10,160 --> 00:24:13,720
Speaker 2: from the outside in. So basically Brianna was just saying

519
00:24:13,760 --> 00:24:16,919
Speaker 2: that if you focus on what is around you immediately

520
00:24:16,960 --> 00:24:20,399
Speaker 2: and what you can control, rather than focusing on the

521
00:24:20,480 --> 00:24:24,919
Speaker 2: overwhelming stuff like focusing on the death toll, focusing on

522
00:24:25,160 --> 00:24:27,800
Speaker 2: the financial impact that this is going to have on

523
00:24:27,840 --> 00:24:30,880
Speaker 2: our world, like, just focus on what you can control

524
00:24:30,920 --> 00:24:35,640
Speaker 2: and you'll feel much more I guess, less stressed, more calm,

525
00:24:35,920 --> 00:24:36,800
Speaker 2: less emotional.

526
00:24:36,880 --> 00:24:37,240
Speaker 1: I don't know.

527
00:24:37,960 --> 00:24:40,400
Speaker 2: I don't know if I'm articulating that properly, but Brianna

528
00:24:40,440 --> 00:24:43,399
Speaker 2: said it perfectly. But I guess it's just reducing that

529
00:24:43,480 --> 00:24:47,200
Speaker 2: sense of overwhelm. Yeah. I really took a lot away

530
00:24:47,240 --> 00:24:48,680
Speaker 2: from that little comment there.

531
00:24:48,800 --> 00:24:51,199
Speaker 3: Yeah, and I'm going to put the pdf for a

532
00:24:51,240 --> 00:24:53,640
Speaker 3: link to the pdf that she had, because she had

533
00:24:53,640 --> 00:24:57,040
Speaker 3: a really great demonstration that she shared with us, and

534
00:24:57,119 --> 00:24:59,879
Speaker 3: it was just like this image that kind of was

535
00:25:00,119 --> 00:25:02,680
Speaker 3: just about, you know, starting with the things you can control,

536
00:25:02,720 --> 00:25:04,440
Speaker 3: and there were this I can't even remember. They were

537
00:25:04,440 --> 00:25:07,120
Speaker 3: like the circles of control, and so I will link

538
00:25:07,160 --> 00:25:09,040
Speaker 3: that below so you guys can see it because it

539
00:25:09,119 --> 00:25:11,159
Speaker 3: was actually quite powerful and I know a lot of

540
00:25:11,200 --> 00:25:12,960
Speaker 3: people have been asking for it as well.

541
00:25:13,080 --> 00:25:17,000
Speaker 2: So obviously we are a money podcast, so inevitably, you

542
00:25:17,000 --> 00:25:18,960
Speaker 2: know we're gonna have to be talking about the financial

543
00:25:19,040 --> 00:25:22,640
Speaker 2: stress of twenty twenty. The financial impact of this year

544
00:25:22,720 --> 00:25:26,480
Speaker 2: has been immense on Australians. I did some research. It's

545
00:25:26,480 --> 00:25:29,480
Speaker 2: one point three million people who lost their jobs this year,

546
00:25:29,560 --> 00:25:31,879
Speaker 2: and then that's not even counting all of the people

547
00:25:31,920 --> 00:25:35,320
Speaker 2: that lost hours, lost shifts, or saw their salary decrease

548
00:25:35,400 --> 00:25:38,680
Speaker 2: to some extent. So I was wanting to ask you, Victoria,

549
00:25:38,920 --> 00:25:41,600
Speaker 2: what some of the techniques you'd advise for someone who's

550
00:25:41,760 --> 00:25:43,160
Speaker 2: really struggling with money this year.

551
00:25:43,320 --> 00:25:45,280
Speaker 3: And I think that goes back to what we're talking

552
00:25:45,280 --> 00:25:47,800
Speaker 3: about before. Think that's my number one tip. Stop putting

553
00:25:47,800 --> 00:25:51,080
Speaker 3: pressure on yourself. Stop trying to achieve these massive savings

554
00:25:51,160 --> 00:25:53,680
Speaker 3: goals if you've got them for yourself, if right now

555
00:25:53,720 --> 00:25:57,199
Speaker 3: they're not achievable, and be kind to yourself honestly, like

556
00:25:57,280 --> 00:25:59,880
Speaker 3: you are doing a damn good job and you need

557
00:26:00,080 --> 00:26:02,760
Speaker 3: to remember that. And I think that right now because

558
00:26:02,760 --> 00:26:05,240
Speaker 3: it has been so long, like Georgia, it's been six months.

559
00:26:05,400 --> 00:26:06,800
Speaker 3: If it was a couple of weeks, I think all

560
00:26:06,880 --> 00:26:08,760
Speaker 3: of us could have brushed it off. But now it

561
00:26:08,800 --> 00:26:11,840
Speaker 3: feels like half the year's been taken. It's August, It's

562
00:26:11,840 --> 00:26:14,679
Speaker 3: going to feel like December in absolutely no time. And

563
00:26:14,720 --> 00:26:17,119
Speaker 3: I know that this isn't going anywhere soon. So just

564
00:26:17,160 --> 00:26:20,920
Speaker 3: take the pressure off yourself. If you are feeling overwhelmed financially,

565
00:26:21,080 --> 00:26:22,960
Speaker 3: or if you've got debt. I think the number one

566
00:26:23,000 --> 00:26:25,719
Speaker 3: thing for me would be to seek help. So there

567
00:26:25,760 --> 00:26:28,439
Speaker 3: are a number of debt hotlines. We've got resources in

568
00:26:28,680 --> 00:26:30,960
Speaker 3: the show notes this week. If you have a plan

569
00:26:31,040 --> 00:26:32,640
Speaker 3: and get your head out of the sands, you're going

570
00:26:32,680 --> 00:26:35,960
Speaker 3: to be feeling so much better about this. So prioritize

571
00:26:36,000 --> 00:26:38,199
Speaker 3: making a plan to get out of that debt. With

572
00:26:38,240 --> 00:26:42,520
Speaker 3: the situation we're in now, stop adhering to your old circumstances,

573
00:26:42,840 --> 00:26:44,800
Speaker 3: and that's going to help you go a really long

574
00:26:44,880 --> 00:26:48,879
Speaker 3: way to just helping feel mentally and financially lighther. The

575
00:26:48,960 --> 00:26:51,160
Speaker 3: second Georgia is going to be one of my favorites.

576
00:26:51,240 --> 00:26:54,000
Speaker 3: Get your budget and cash flow in order. I can't

577
00:26:54,080 --> 00:26:55,840
Speaker 3: tell you how many times I jump up and down

578
00:26:55,880 --> 00:26:58,440
Speaker 3: about this so that you understand what's happening with your

579
00:26:58,480 --> 00:27:01,160
Speaker 3: money so you can make it work for you. If

580
00:27:01,200 --> 00:27:03,119
Speaker 3: you need to do a new budget because your budget

581
00:27:03,160 --> 00:27:05,919
Speaker 3: has changed, that is cool. Just get it done. I

582
00:27:05,920 --> 00:27:09,480
Speaker 3: think it's really important. And also if you're really struggling

583
00:27:09,560 --> 00:27:11,480
Speaker 3: with that, we do have our budget and cash Flow

584
00:27:11,520 --> 00:27:14,680
Speaker 3: course coming out this month Georgia, which will be so

585
00:27:14,680 --> 00:27:17,680
Speaker 3: so fun. The next one is cut back where you can.

586
00:27:17,800 --> 00:27:20,080
Speaker 3: We spoke about this a lot on the budgeting episode.

587
00:27:20,080 --> 00:27:22,159
Speaker 3: A couple of weeks back. So listen to that, but

588
00:27:22,400 --> 00:27:25,320
Speaker 3: just prioritize your spending. Look at how you can reduce

589
00:27:25,359 --> 00:27:27,919
Speaker 3: your expenses right now and where you can be saving

590
00:27:27,920 --> 00:27:30,440
Speaker 3: some extra dollars. This is going to help you save

591
00:27:30,680 --> 00:27:34,639
Speaker 3: more and faster. Also, keep in mind that the Australian

592
00:27:34,680 --> 00:27:39,480
Speaker 3: government is providing additional Medicare subsidies for psychological therapy sessions.

593
00:27:39,880 --> 00:27:42,679
Speaker 3: I didn't know this, learned this in the webinar. Again,

594
00:27:42,880 --> 00:27:45,480
Speaker 3: like these webinars honestly should be sponsored, given how much

595
00:27:45,480 --> 00:27:48,080
Speaker 3: I'm jumping up and down about them. But honestly, guys,

596
00:27:48,080 --> 00:27:50,640
Speaker 3: it's just me and a wine with Brianna, our psychology

597
00:27:50,680 --> 00:27:52,879
Speaker 3: friend on a Thursday night. But this is through the

598
00:27:52,920 --> 00:27:54,879
Speaker 3: Mental health Care Plan. So if you need to speak

599
00:27:54,920 --> 00:27:56,960
Speaker 3: with someone but you're worried about the cost, you can

600
00:27:56,960 --> 00:27:59,760
Speaker 3: make an appointment with your GP. And because everyone's doing

601
00:27:59,760 --> 00:28:03,320
Speaker 3: tech health at the moment, you can google a tallyhealth

602
00:28:03,359 --> 00:28:07,240
Speaker 3: practitioner that does bulk feeling and ask your GP for

603
00:28:07,320 --> 00:28:10,720
Speaker 3: a bulk build psychologist. This is going to mean that

604
00:28:10,840 --> 00:28:13,480
Speaker 3: you know your out of pockets will be covered and

605
00:28:13,640 --> 00:28:16,440
Speaker 3: discuss arranging a mental health care plan with them if

606
00:28:16,480 --> 00:28:19,719
Speaker 3: you need it. Honestly, I can't speak highly enough of

607
00:28:19,840 --> 00:28:22,200
Speaker 3: just putting your hand up and reaching out for some help.

608
00:28:22,600 --> 00:28:25,240
Speaker 3: It will be the best thing you've done all year. Honestly,

609
00:28:25,440 --> 00:28:27,359
Speaker 3: I think it was a couple of weeks ago. B

610
00:28:27,480 --> 00:28:30,880
Speaker 3: we noted that about fifty nine percent of Australian say

611
00:28:30,960 --> 00:28:34,359
Speaker 3: their current financial situation causes them stress all loss of sleep,

612
00:28:34,840 --> 00:28:39,959
Speaker 3: and nearly half of millennials constantly worry about their financial future.

613
00:28:40,480 --> 00:28:42,920
Speaker 3: So to round out our chat today, can you talk

614
00:28:42,960 --> 00:28:48,800
Speaker 3: a little bit about the relationship between mental struggle and finance. So, actually, Georgia,

615
00:28:48,880 --> 00:28:52,600
Speaker 3: it works both ways, and this is generally speaking, of course,

616
00:28:52,720 --> 00:28:56,520
Speaker 3: but often those experiencing mental health issues find that it

617
00:28:56,560 --> 00:28:59,080
Speaker 3: can add to financial stress and the other way around

618
00:28:59,080 --> 00:29:01,720
Speaker 3: to if you've got fineinancial stress like that adds to

619
00:29:01,800 --> 00:29:04,960
Speaker 3: your mental load. And I think that the term mental

620
00:29:05,040 --> 00:29:08,120
Speaker 3: load is really important here to understand, and it might

621
00:29:08,200 --> 00:29:10,680
Speaker 3: not be something that you guys have heard of before,

622
00:29:11,200 --> 00:29:14,320
Speaker 3: but the term mental load to me is really really

623
00:29:14,360 --> 00:29:17,680
Speaker 3: important and it's usually used in relation to women, but

624
00:29:17,720 --> 00:29:20,880
Speaker 3: I think we all experience mental load. And this is

625
00:29:21,200 --> 00:29:24,320
Speaker 3: the mental work, the organizing, the list making, the planning,

626
00:29:24,520 --> 00:29:26,840
Speaker 3: all of the things you are doing to manage your life.

627
00:29:26,920 --> 00:29:30,200
Speaker 3: And right now, For me, I feel like everybody's mental

628
00:29:30,240 --> 00:29:34,200
Speaker 3: load is heightened because our financial stresses have changed, and

629
00:29:34,240 --> 00:29:36,680
Speaker 3: I think it's really important to point that out. That

630
00:29:37,080 --> 00:29:41,320
Speaker 3: everybody has mental health, but mental health is dependent on

631
00:29:41,360 --> 00:29:44,200
Speaker 3: how much mental load you are taking on, and if

632
00:29:44,240 --> 00:29:46,240
Speaker 3: you're taking on heaps and heaps of mental load, of

633
00:29:46,400 --> 00:29:49,400
Speaker 3: course it is going to be stressful mentally, Georgia. To

634
00:29:49,400 --> 00:29:52,480
Speaker 3: put all of this simply, we know that financial wellness

635
00:29:52,680 --> 00:29:56,280
Speaker 3: can bring us security and peace of mind, which reduces stress,

636
00:29:56,280 --> 00:29:58,280
Speaker 3: as we know, but it is one massive thing we

637
00:29:58,360 --> 00:30:01,440
Speaker 3: no longer have to worry about. That money doesn't buy happiness,

638
00:30:01,520 --> 00:30:03,720
Speaker 3: but it sure as hell does afford us a lot

639
00:30:03,760 --> 00:30:06,080
Speaker 3: of freedom, and the stress of not being able to

640
00:30:06,160 --> 00:30:08,360
Speaker 3: keep up with our bills or struggling to make ends

641
00:30:08,360 --> 00:30:11,240
Speaker 3: meets with our debts can considerably impact our day to

642
00:30:11,320 --> 00:30:13,880
Speaker 3: day lives and our mental loads. So I think it's

643
00:30:13,920 --> 00:30:17,080
Speaker 3: really important to keep that in mind, Georgia. I've spoken

644
00:30:17,080 --> 00:30:20,160
Speaker 3: about this before on the podcast, but we also know

645
00:30:20,240 --> 00:30:23,960
Speaker 3: that finance ranks as essentially the top stressor for Australians

646
00:30:24,000 --> 00:30:28,280
Speaker 3: according to the APS or the Australian Psychological Association, which

647
00:30:28,320 --> 00:30:32,200
Speaker 3: I would imagine, especially during this time, is still the case.

648
00:30:32,080 --> 00:30:34,200
Speaker 2: Well, it's just one of those things that we don't

649
00:30:34,280 --> 00:30:37,840
Speaker 2: talk about, and obviously this podcast aims to combat that.

650
00:30:38,000 --> 00:30:40,320
Speaker 2: But money for so long has been such a tavoo,

651
00:30:40,760 --> 00:30:44,000
Speaker 2: and I think we really build up this sense of

652
00:30:44,040 --> 00:30:46,680
Speaker 2: shame around our money if it's not going so well

653
00:30:46,720 --> 00:30:49,080
Speaker 2: for us and we don't want to be talking about it.

654
00:30:49,120 --> 00:30:50,600
Speaker 2: Do you think that plays into it at all?

655
00:30:50,640 --> 00:30:53,120
Speaker 3: One hundred percent. Money's awkward to talk about. I mean,

656
00:30:53,160 --> 00:30:55,880
Speaker 3: I don't find it awkward to talk about anymore, but

657
00:30:55,960 --> 00:30:57,840
Speaker 3: I remember there was a time when it was awkward

658
00:30:57,880 --> 00:30:59,960
Speaker 3: for me, and I'm really grateful I've gotten through that.

659
00:31:00,360 --> 00:31:02,760
Speaker 3: And the point of this podcast is to really open

660
00:31:02,840 --> 00:31:06,080
Speaker 3: up the conversation around money to empower us. But more

661
00:31:06,080 --> 00:31:09,800
Speaker 3: money conversations, more often, a problem shared is a problem halved.

662
00:31:09,840 --> 00:31:12,320
Speaker 3: And if you can have a conversation with someone about

663
00:31:12,320 --> 00:31:14,720
Speaker 3: an issue you are struggling with, you are going to

664
00:31:14,760 --> 00:31:17,720
Speaker 3: feel so much lighter, whether that is money or something else.

665
00:31:17,960 --> 00:31:21,200
Speaker 2: Okay, So to wrap up our main chat today, Victoria,

666
00:31:21,320 --> 00:31:24,080
Speaker 2: if our listeners could only take away one thing from

667
00:31:24,120 --> 00:31:26,040
Speaker 2: today's whole episode, what do you think.

668
00:31:25,880 --> 00:31:26,320
Speaker 1: It would be?

669
00:31:26,480 --> 00:31:29,479
Speaker 3: Be kind to yourselves. I think that given this has

670
00:31:29,520 --> 00:31:31,920
Speaker 3: been stretching on for so long, we seem a little

671
00:31:31,960 --> 00:31:34,960
Speaker 3: bit over looking after ourselves. In a way, we seem

672
00:31:35,000 --> 00:31:37,600
Speaker 3: a little bit over the whole COVID thing. And it's

673
00:31:37,720 --> 00:31:40,920
Speaker 3: so fair, like everybody is, you know, over zooming with

674
00:31:40,960 --> 00:31:43,280
Speaker 3: their friends and they're over talking about COVID and they're

675
00:31:43,320 --> 00:31:46,480
Speaker 3: overwatching the news. But like you can't get over being

676
00:31:46,560 --> 00:31:49,920
Speaker 3: kind to yourself. And I think still take the pressure off. Like,

677
00:31:50,040 --> 00:31:52,560
Speaker 3: let's just treat twenty twenty as a year that we

678
00:31:52,800 --> 00:31:56,200
Speaker 3: learnt a little bit more about ourselves. Twenty twenty is

679
00:31:56,280 --> 00:31:59,280
Speaker 3: not the year to be, you know, smashing out financial goals.

680
00:31:59,480 --> 00:32:02,960
Speaker 3: If you are fantastic, I'm so happy for you. But

681
00:32:03,080 --> 00:32:06,040
Speaker 3: for those of us who are struggling, just practice kindness.

682
00:32:06,120 --> 00:32:08,000
Speaker 3: It is not the year to be, you know, putting

683
00:32:08,000 --> 00:32:09,720
Speaker 3: this pressure on ourselves at all.

684
00:32:14,240 --> 00:32:16,760
Speaker 2: Hi, there, you've reached the shoes on the money mail box.

685
00:32:16,840 --> 00:32:18,600
Speaker 2: Do you have the money problem you want to help solving.

686
00:32:18,680 --> 00:32:20,400
Speaker 2: Do you have the money and dilemma you just want

687
00:32:20,440 --> 00:32:23,640
Speaker 2: to chat about. Victoria is here to help. Every week,

688
00:32:23,760 --> 00:32:25,840
Speaker 2: we'll be playing your questions to help make sense of

689
00:32:25,840 --> 00:32:27,880
Speaker 2: the money mess you may have found yourself in. Make

690
00:32:27,920 --> 00:32:29,760
Speaker 2: a quick recording on your phone and send it through

691
00:32:29,840 --> 00:32:32,400
Speaker 2: to podcast at Shoesodthmoney dot com dot Au and you

692
00:32:32,480 --> 00:32:34,880
Speaker 2: might even find yourself on the show. But for now,

693
00:32:35,000 --> 00:32:36,360
Speaker 2: here's today's listener question.

694
00:32:37,640 --> 00:32:39,920
Speaker 5: Hi ladies, I'm twenty three and I was made redundant

695
00:32:39,960 --> 00:32:41,840
Speaker 5: in April and I haven't been able to get a

696
00:32:41,920 --> 00:32:44,200
Speaker 5: job since, which I've been feeling kind of guilty and

697
00:32:44,240 --> 00:32:46,800
Speaker 5: lazy about. I live at home still, so I'm okay

698
00:32:46,840 --> 00:32:48,680
Speaker 5: in that sense, but I just feel like I should

699
00:32:48,720 --> 00:32:51,040
Speaker 5: be starting a side hustle or trying harder to get

700
00:32:51,040 --> 00:32:53,120
Speaker 5: a job and get on with things, but I'm finding

701
00:32:53,160 --> 00:32:55,760
Speaker 5: it really hard. I'm also in Melbourn, which makes things

702
00:32:55,760 --> 00:32:58,480
Speaker 5: hard too, as we can't really go anywhere. If you

703
00:32:58,520 --> 00:33:00,400
Speaker 5: have any advice on how I can pull myself out

704
00:33:00,400 --> 00:33:02,400
Speaker 5: of this rut so that I can continue saving, I

705
00:33:02,400 --> 00:33:03,560
Speaker 5: would really appreciate it.

706
00:33:04,440 --> 00:33:07,400
Speaker 2: Thoughts on this listener question, Victoria, Oh.

707
00:33:07,240 --> 00:33:09,960
Speaker 3: Georgia King. I've said it before and I will say

708
00:33:10,000 --> 00:33:12,080
Speaker 3: it again, and that is we don't need to be

709
00:33:12,120 --> 00:33:15,600
Speaker 3: achieving anything throughout this time. It is literally enough to

710
00:33:15,760 --> 00:33:18,640
Speaker 3: just be surviving through it. So if you don't speak

711
00:33:18,640 --> 00:33:21,120
Speaker 3: another language, or you don't have new abs, or you

712
00:33:21,160 --> 00:33:23,600
Speaker 3: don't have a new degree coming out of this pandemic.

713
00:33:23,920 --> 00:33:27,160
Speaker 3: You absolutely have not failed, and I'd really like to

714
00:33:27,200 --> 00:33:29,760
Speaker 3: take issue with that kind of rhetoric. It is so

715
00:33:29,960 --> 00:33:32,040
Speaker 3: unfair on you to be thinking that you need to

716
00:33:32,040 --> 00:33:34,600
Speaker 3: be doing more, achieving more if you're unemployed and you

717
00:33:34,720 --> 00:33:36,560
Speaker 3: just want to be working out how to save again.

718
00:33:36,920 --> 00:33:39,640
Speaker 3: I get it, I really really do, but to stop

719
00:33:39,680 --> 00:33:42,479
Speaker 3: putting pressure on yourself. There is, you know, no pressure

720
00:33:42,520 --> 00:33:44,600
Speaker 3: on her. She's living at home and I'm sure her

721
00:33:44,640 --> 00:33:47,760
Speaker 3: parents are very sympathetic and empathetic, so I think we

722
00:33:47,840 --> 00:33:50,800
Speaker 3: need to appreciate that. And you know, like I just

723
00:33:50,840 --> 00:33:53,120
Speaker 3: want to jump up and down and say, stop putting

724
00:33:53,120 --> 00:33:56,040
Speaker 3: so much pressure on yourself, like it is so hard,

725
00:33:56,120 --> 00:33:59,120
Speaker 3: Like yes, absolutely, if you would like to continue looking

726
00:33:59,120 --> 00:34:00,920
Speaker 3: for a job, I'm not saying give up and just

727
00:34:01,040 --> 00:34:02,960
Speaker 3: be kind to yourself for six months and lay in

728
00:34:03,000 --> 00:34:05,800
Speaker 3: bed like that is not it. But I think we

729
00:34:05,880 --> 00:34:09,120
Speaker 3: all need to remember that right now, lots of people

730
00:34:09,200 --> 00:34:12,600
Speaker 3: are unemployed, lots of people are applying for whatever jobs

731
00:34:12,680 --> 00:34:16,040
Speaker 3: are in existence, and so many jobs are not able

732
00:34:16,080 --> 00:34:18,560
Speaker 3: to hire at the moment either. So this is going

733
00:34:18,600 --> 00:34:21,719
Speaker 3: to be hard for months to come because the level

734
00:34:21,760 --> 00:34:24,640
Speaker 3: of competition is going to be insane. It is not

735
00:34:24,800 --> 00:34:27,879
Speaker 3: going to be reasonable for you to expect a job

736
00:34:27,960 --> 00:34:30,200
Speaker 3: right off the bat, if I'm being honest. And it's

737
00:34:30,239 --> 00:34:33,279
Speaker 3: also going to just be really challenging mentally because I

738
00:34:33,320 --> 00:34:35,719
Speaker 3: know lots of us are going to feel so let

739
00:34:35,760 --> 00:34:38,359
Speaker 3: down when we apply for jobs and then don't hear

740
00:34:38,400 --> 00:34:40,520
Speaker 3: back from them. And that was something that I was

741
00:34:40,560 --> 00:34:43,359
Speaker 3: speaking to someone about earlier this week actually, and they

742
00:34:43,360 --> 00:34:45,480
Speaker 3: were like, look, Victoria, I've applied for so many jobs

743
00:34:45,520 --> 00:34:47,799
Speaker 3: and I haven't heard back from any of them. Like, look,

744
00:34:47,840 --> 00:34:50,239
Speaker 3: I get that, and I really wish that employers would

745
00:34:50,239 --> 00:34:53,479
Speaker 3: give you feedback when you applied for a job. That's

746
00:34:53,600 --> 00:34:56,040
Speaker 3: just not fair. But at the moment, we're in the

747
00:34:56,040 --> 00:34:58,920
Speaker 3: middle of a pandemic and I am absolutely sure they

748
00:34:58,960 --> 00:35:02,200
Speaker 3: would have been in undates should with applications, so stop

749
00:35:02,280 --> 00:35:03,640
Speaker 3: taking the rejections.

750
00:35:03,640 --> 00:35:06,400
Speaker 2: So personally, yeah, well that goes back to what you

751
00:35:06,400 --> 00:35:10,799
Speaker 2: were saying before, Victoria, about adjusting your expectations of this

752
00:35:10,880 --> 00:35:11,560
Speaker 2: year a little bit.

753
00:35:11,680 --> 00:35:14,479
Speaker 3: Absolutely, And I think it's just worthy of pointing it out,

754
00:35:14,520 --> 00:35:16,560
Speaker 3: Like you guys might already know that, but I think

755
00:35:16,600 --> 00:35:18,719
Speaker 3: it's one thing to know it and another thing for

756
00:35:18,760 --> 00:35:21,520
Speaker 3: someone to sit down and go, no, I care about you,

757
00:35:21,560 --> 00:35:24,120
Speaker 3: Please listen like this is something that you need to.

758
00:35:24,080 --> 00:35:26,640
Speaker 2: Hear lastly as well. She doesn't have any debts that

759
00:35:26,680 --> 00:35:30,080
Speaker 2: she's mentioned here. She's just worried that she's not saving enough.

760
00:35:30,160 --> 00:35:33,080
Speaker 2: So it's all okay, I would just take it easy

761
00:35:33,120 --> 00:35:38,880
Speaker 2: on yourself for sure. Now it's time for our favorite

762
00:35:38,920 --> 00:35:41,279
Speaker 2: part of the show. We take a sneak peek into

763
00:35:41,280 --> 00:35:44,920
Speaker 2: the financial lives of perfect strangers. It's time for money diaries.

764
00:35:45,960 --> 00:35:48,719
Speaker 4: Hello, my name is indebted friend, and this is my

765
00:35:48,840 --> 00:35:49,600
Speaker 4: money diary.

766
00:35:49,840 --> 00:35:52,040
Speaker 2: What does indebted friend do? How much does she earn?

767
00:35:52,160 --> 00:35:54,160
Speaker 2: And how much is in her bank account right now?

768
00:35:54,520 --> 00:35:58,960
Speaker 4: So I work as an environmental consultant. I own seventy

769
00:35:58,960 --> 00:36:03,240
Speaker 4: two thousand a year. I have about five thousand dollars

770
00:36:03,280 --> 00:36:04,520
Speaker 4: in my bank account at the moment.

771
00:36:04,880 --> 00:36:07,280
Speaker 2: And what happens to our income when she gets paid?

772
00:36:07,400 --> 00:36:11,960
Speaker 4: I immediately take my rent out. At the moment that

773
00:36:12,040 --> 00:36:15,600
Speaker 4: my partner and I live together, and because I was

774
00:36:16,480 --> 00:36:21,560
Speaker 4: financially kind of drowning for quite some time, he basically

775
00:36:21,680 --> 00:36:25,759
Speaker 4: loaned me a good chunk of money to get out

776
00:36:25,760 --> 00:36:28,440
Speaker 4: of that immediate debt that I was in, and then

777
00:36:28,480 --> 00:36:32,160
Speaker 4: I'm paying him back by covering his rent. So at

778
00:36:32,160 --> 00:36:35,279
Speaker 4: the moment when I get paid I pay the full

779
00:36:35,280 --> 00:36:38,840
Speaker 4: amount of rent, and then I have all direct debts

780
00:36:38,840 --> 00:36:41,279
Speaker 4: for all my bills, and I kind of find I

781
00:36:41,400 --> 00:36:43,520
Speaker 4: just let them come out. I don't really pay as

782
00:36:43,600 --> 00:36:45,919
Speaker 4: much attention to them as I should, which I'm trying

783
00:36:45,920 --> 00:36:49,040
Speaker 4: to get better at was pre planning when I know

784
00:36:49,120 --> 00:36:50,760
Speaker 4: they're coming out, so I don't look at my account

785
00:36:50,760 --> 00:36:53,000
Speaker 4: and go, oh, there's one hundred dollars missaying, Oh it

786
00:36:53,120 --> 00:36:56,319
Speaker 4: was this bill. And then we're also getting married. We

787
00:36:56,440 --> 00:36:59,440
Speaker 4: do fought like week on week off of paying our groceries.

788
00:37:00,200 --> 00:37:03,040
Speaker 4: Kind of know about how much that costs per week,

789
00:37:03,120 --> 00:37:06,239
Speaker 4: so I make sure I keep that amount out and

790
00:37:06,280 --> 00:37:09,239
Speaker 4: then everything else I just try to put away to

791
00:37:09,360 --> 00:37:12,200
Speaker 4: savings for our upcoming nuptials.

792
00:37:12,320 --> 00:37:14,120
Speaker 2: What I have thoughts on investing at.

793
00:37:14,040 --> 00:37:16,920
Speaker 4: The moment, all about saving investing is not something I

794
00:37:16,960 --> 00:37:19,560
Speaker 4: ever thought about until I listened to the podcast, and

795
00:37:19,600 --> 00:37:23,880
Speaker 4: it's something I'm definitely more interested in. It's kind of

796
00:37:23,920 --> 00:37:27,000
Speaker 4: one of those things I'm putting off until wedding is done.

797
00:37:27,200 --> 00:37:29,120
Speaker 1: And i have a personal.

798
00:37:28,840 --> 00:37:31,759
Speaker 4: Loan that I'm wanting to really pay down once the

799
00:37:31,760 --> 00:37:34,080
Speaker 4: wedding's done, Like I really want to get that gone

800
00:37:34,080 --> 00:37:36,480
Speaker 4: by this time next year, So it's yeah, it's kind

801
00:37:36,480 --> 00:37:38,239
Speaker 4: of something that is in the back of my head

802
00:37:38,640 --> 00:37:41,279
Speaker 4: to do, but not something that I'm currently doing now.

803
00:37:41,280 --> 00:37:43,520
Speaker 2: She did get herself into trouble debt, which blew out

804
00:37:43,560 --> 00:37:46,600
Speaker 2: to fifteen thousand dollars. How exactly did she find herself

805
00:37:46,600 --> 00:37:47,320
Speaker 2: in this situation.

806
00:37:47,520 --> 00:37:49,880
Speaker 4: I had a credit card that I should never have

807
00:37:49,920 --> 00:37:52,120
Speaker 4: been approved for ever, like the fact that the bank

808
00:37:52,160 --> 00:37:53,960
Speaker 4: even gave me when it is just absurd to me.

809
00:37:54,480 --> 00:37:56,719
Speaker 4: So I had that, and then I found that I

810
00:37:56,360 --> 00:37:59,120
Speaker 4: was I was dipping into it a lot, and I

811
00:37:59,160 --> 00:38:00,680
Speaker 4: wanted to get rid of it, like I wanted to

812
00:38:00,719 --> 00:38:03,640
Speaker 4: try and start managing my finances a lot better. So

813
00:38:03,719 --> 00:38:07,759
Speaker 4: I got a personal loan to cover the credit card

814
00:38:08,280 --> 00:38:11,480
Speaker 4: and pay that off instead. It was lower interest, and

815
00:38:11,640 --> 00:38:14,759
Speaker 4: it was a much better option. And then where it

816
00:38:14,760 --> 00:38:18,240
Speaker 4: all kind of spiraled out of control was I didn't

817
00:38:18,280 --> 00:38:21,359
Speaker 4: immediately close the credit card, and then I moved in

818
00:38:21,400 --> 00:38:25,760
Speaker 4: with a friend and her boyfriend. We were living together

819
00:38:26,040 --> 00:38:30,200
Speaker 4: for maybe three months, maybe even two months, and they

820
00:38:30,239 --> 00:38:32,120
Speaker 4: split up and.

821
00:38:32,440 --> 00:38:34,040
Speaker 1: It all spiraled out from there.

822
00:38:34,160 --> 00:38:38,600
Speaker 4: So she basically did him dirty personally and their relationship

823
00:38:38,719 --> 00:38:41,240
Speaker 4: and then me as well as a friend, and just

824
00:38:41,440 --> 00:38:43,920
Speaker 4: with the financial obligations that she had towards us in

825
00:38:44,000 --> 00:38:47,759
Speaker 4: the least up and left left a job, had no

826
00:38:47,840 --> 00:38:50,640
Speaker 4: idea where she went or what was going on, was

827
00:38:50,719 --> 00:38:54,279
Speaker 4: refusing to pay rent, refusing to pay bills. We were

828
00:38:54,360 --> 00:38:55,799
Speaker 4: kind of trying to figure out if we could get

829
00:38:55,840 --> 00:38:59,040
Speaker 4: a new roommate in and it all became really really difficult,

830
00:38:59,080 --> 00:39:00,439
Speaker 4: and so we're like, we were just need to break

831
00:39:00,440 --> 00:39:00,799
Speaker 4: the lease.

832
00:39:00,960 --> 00:39:02,759
Speaker 1: But then the unfortunate thing with that as.

833
00:39:02,680 --> 00:39:05,560
Speaker 4: Well is she's was still a lease holder and she

834
00:39:05,719 --> 00:39:08,080
Speaker 4: still had to agree to pay the lease and she wouldn't,

835
00:39:08,520 --> 00:39:10,600
Speaker 4: and essentially I then had to find a new place

836
00:39:10,640 --> 00:39:14,120
Speaker 4: to live. I moved in with my partner, and I

837
00:39:14,200 --> 00:39:15,480
Speaker 4: was very fortunate.

838
00:39:15,040 --> 00:39:17,640
Speaker 1: That he covered a lot of the first.

839
00:39:17,360 --> 00:39:21,319
Speaker 4: Initial expenses, like the bond for our new place that

840
00:39:21,560 --> 00:39:27,799
Speaker 4: I essentially was on the hook for double rent for weeks,

841
00:39:28,480 --> 00:39:32,359
Speaker 4: the cleaning bill for leaving the old apartment and then

842
00:39:32,400 --> 00:39:35,360
Speaker 4: moving in, and then all the stuff that comes with moving.

843
00:39:35,400 --> 00:39:37,120
Speaker 4: You know, that's just an expense that you don't even

844
00:39:37,160 --> 00:39:39,520
Speaker 4: think of. I think we had to pay six six

845
00:39:39,560 --> 00:39:42,600
Speaker 4: weeks break fee because we'd not We've been in the

846
00:39:42,680 --> 00:39:46,200
Speaker 4: lease for like two seconds before we broke, and it

847
00:39:46,239 --> 00:39:49,600
Speaker 4: was twelve month lease. There was all these other additional

848
00:39:49,640 --> 00:39:52,080
Speaker 4: costs that we had to cover, and then she wasn't

849
00:39:52,120 --> 00:39:52,920
Speaker 4: paying any of it.

850
00:39:53,920 --> 00:39:55,760
Speaker 1: So that's where the credit card.

851
00:39:55,760 --> 00:39:58,400
Speaker 4: Kind of came back, where I was just like, I

852
00:39:58,520 --> 00:40:01,560
Speaker 4: need this situation to go away. I'm just going to

853
00:40:01,600 --> 00:40:03,279
Speaker 4: put it all back onto the credit card. And so

854
00:40:03,360 --> 00:40:05,759
Speaker 4: then I went from a five thousand dollar debt to

855
00:40:05,880 --> 00:40:09,520
Speaker 4: a ten thousand dollar debt very very quickly, and then

856
00:40:09,800 --> 00:40:14,160
Speaker 4: got engaged planning a wedding and it all just spiraled

857
00:40:14,280 --> 00:40:15,560
Speaker 4: very quickly from there.

858
00:40:15,640 --> 00:40:17,600
Speaker 1: Of just kind of stuck my head in the sand

859
00:40:17,640 --> 00:40:18,200
Speaker 1: and was like.

860
00:40:18,160 --> 00:40:21,400
Speaker 4: This isn't happening, And then, Yeah.

861
00:40:21,400 --> 00:40:22,720
Speaker 2: What's her best money habit?

862
00:40:22,920 --> 00:40:24,880
Speaker 4: I think my best money habit is that when I

863
00:40:24,960 --> 00:40:28,000
Speaker 4: do have a goal, so such as the wedding, I

864
00:40:28,120 --> 00:40:32,520
Speaker 4: will actively work towards it, and then once I reach

865
00:40:32,920 --> 00:40:35,200
Speaker 4: a certain amount of money in savings, like, I will

866
00:40:35,200 --> 00:40:35,799
Speaker 4: not touch it.

867
00:40:36,160 --> 00:40:38,600
Speaker 1: Like even when payments have come up.

868
00:40:38,480 --> 00:40:40,160
Speaker 4: For the wedding, like oh okay, we need to pay

869
00:40:40,280 --> 00:40:42,960
Speaker 4: this next amount of money, I'm like, oh God, I don't.

870
00:40:42,840 --> 00:40:44,439
Speaker 1: Want to part with it, you know, even though that's

871
00:40:44,480 --> 00:40:45,120
Speaker 1: what it's for.

872
00:40:45,440 --> 00:40:48,200
Speaker 4: But I'm really good at that's what my goal is,

873
00:40:48,560 --> 00:40:50,520
Speaker 4: and that's what I'm working towards and I'll.

874
00:40:50,320 --> 00:40:50,920
Speaker 1: Stick to it.

875
00:40:51,239 --> 00:40:53,320
Speaker 2: And what is her worst money habit?

876
00:40:53,520 --> 00:40:59,160
Speaker 4: Oh god, massive skincare junkie. I love it like it's

877
00:40:59,400 --> 00:41:03,400
Speaker 4: my real self care thing as well, So I really like,

878
00:41:03,480 --> 00:41:05,600
Speaker 4: I try to take really good care of my skin.

879
00:41:06,080 --> 00:41:09,280
Speaker 4: But I'm also like, I really love trying new products

880
00:41:09,520 --> 00:41:12,399
Speaker 4: and seeing like, oh maybe I like this one more

881
00:41:12,440 --> 00:41:15,640
Speaker 4: than this one, and it's my collection is insane.

882
00:41:15,760 --> 00:41:16,680
Speaker 1: But I use it all.

883
00:41:16,760 --> 00:41:18,480
Speaker 4: That's the thing, Like, I use it a little, so

884
00:41:18,560 --> 00:41:21,640
Speaker 4: it's a purpose. But yeah, it's if there's like new

885
00:41:21,680 --> 00:41:23,960
Speaker 4: products and things coming out, like I'm trying, and I

886
00:41:24,000 --> 00:41:26,640
Speaker 4: have a very high threshold for what I think is expensive.

887
00:41:27,120 --> 00:41:30,760
Speaker 4: So something that someone is like, oh that's outrageous, I'm.

888
00:41:30,600 --> 00:41:31,200
Speaker 1: Like, is it?

889
00:41:32,480 --> 00:41:33,560
Speaker 2: What are her money goals?

890
00:41:33,640 --> 00:41:35,600
Speaker 4: But the shorter term one is the wedding, which is

891
00:41:35,640 --> 00:41:39,360
Speaker 4: happening very shortly even with COVID because it's very small.

892
00:41:39,760 --> 00:41:41,440
Speaker 1: And then after that it's the personal loan.

893
00:41:41,640 --> 00:41:44,399
Speaker 2: What would in debted friend grade her money habits?

894
00:41:44,600 --> 00:41:48,120
Speaker 4: I would say I used to be like a C

895
00:41:48,440 --> 00:41:50,759
Speaker 4: or a D, Like I was a good chunk of

896
00:41:50,880 --> 00:41:53,719
Speaker 4: especially last year and even the beginning of this year,

897
00:41:53,760 --> 00:41:56,960
Speaker 4: before I consolidated all my debt. I was really not

898
00:41:57,080 --> 00:41:59,480
Speaker 4: doing so crash hot, Like I was like head in

899
00:41:59,520 --> 00:42:02,799
Speaker 4: the sand and not paying attention to this, like let

900
00:42:02,800 --> 00:42:05,319
Speaker 4: it get out of control. Now I would say I'm

901
00:42:05,360 --> 00:42:08,799
Speaker 4: maybe like a B minus. I think I think is

902
00:42:08,840 --> 00:42:11,319
Speaker 4: pretty fair. But I know that there are things I

903
00:42:11,320 --> 00:42:15,040
Speaker 4: can do better. But I have been way more strict

904
00:42:15,160 --> 00:42:19,400
Speaker 4: on setting my goals and sticking to them and not

905
00:42:19,640 --> 00:42:23,920
Speaker 4: going crazy on really big purchases or anything, and like

906
00:42:24,040 --> 00:42:25,960
Speaker 4: trying to be really mindful of the things that I

907
00:42:26,000 --> 00:42:29,839
Speaker 4: am purchasing, like actually thinking like do I need this,

908
00:42:30,000 --> 00:42:32,319
Speaker 4: does this serve a purpose in my life, rather than

909
00:42:32,880 --> 00:42:36,239
Speaker 4: caving into that impulse. The skin care excluded because that's

910
00:42:36,280 --> 00:42:38,760
Speaker 4: just my thing, so you know, doesn't count.

911
00:42:40,000 --> 00:42:42,600
Speaker 2: And what does our indebted friend think she needs to

912
00:42:42,600 --> 00:42:43,319
Speaker 2: do to get an.

913
00:42:43,200 --> 00:42:48,360
Speaker 4: A I want to learn more about investing and understanding

914
00:42:49,000 --> 00:42:51,920
Speaker 4: like money better. I think at the moment I have

915
00:42:52,000 --> 00:42:55,600
Speaker 4: a very basic understanding of those things in terms of

916
00:42:56,080 --> 00:43:01,640
Speaker 4: you know, higher interest savings and investing and the steps

917
00:43:01,680 --> 00:43:04,080
Speaker 4: to take to buy a house.

918
00:43:03,760 --> 00:43:05,319
Speaker 1: And all that kind of thing.

919
00:43:05,360 --> 00:43:09,759
Speaker 4: I think I need to really expand just past and

920
00:43:09,800 --> 00:43:12,359
Speaker 4: more basic knowledge of it rather than just I'm going

921
00:43:12,400 --> 00:43:15,120
Speaker 4: to save X amount of dollars. Well, why am I

922
00:43:15,160 --> 00:43:17,520
Speaker 4: saving X amount of dollars? And where is that going to?

923
00:43:17,719 --> 00:43:21,160
Speaker 4: And what can I do to make that, you know,

924
00:43:21,280 --> 00:43:22,320
Speaker 4: more worth my while?

925
00:43:22,719 --> 00:43:25,600
Speaker 2: Alrighty v our indebted friend, what did you think?

926
00:43:25,840 --> 00:43:27,880
Speaker 3: I liked that money, Dirry. I thought it was totally

927
00:43:27,920 --> 00:43:30,920
Speaker 3: relatable because at what point in anybody's life haven't they

928
00:43:30,920 --> 00:43:32,720
Speaker 3: had to deal with a terrible housemate?

929
00:43:32,840 --> 00:43:33,040
Speaker 2: Oh?

930
00:43:33,160 --> 00:43:35,560
Speaker 3: Yes, I feel like everyone's dealt with a housemate that

931
00:43:35,680 --> 00:43:38,560
Speaker 3: hasn't been great. Thankfully, the housemates that I have had

932
00:43:38,800 --> 00:43:40,920
Speaker 3: have been lovely. I have had my fair share of

933
00:43:41,000 --> 00:43:43,839
Speaker 3: awkward housemate moments, though, but none of them have left

934
00:43:43,880 --> 00:43:46,839
Speaker 3: me in five thousand dollars worth of debt, So I

935
00:43:46,880 --> 00:43:50,440
Speaker 3: feel like maybe I am one of the lucky ones.

936
00:43:50,920 --> 00:43:53,800
Speaker 3: It seems. I felt like she had a good salary.

937
00:43:53,800 --> 00:43:56,200
Speaker 3: It sounds like she's on a really nice trajectory with

938
00:43:56,239 --> 00:43:58,800
Speaker 3: her life. She's gonna get married, which is really excited.

939
00:43:58,840 --> 00:44:02,120
Speaker 3: She's engaged, lanning for a wedding, but she still has

940
00:44:02,239 --> 00:44:04,279
Speaker 3: From what I was saying, Georgie, you're always better at

941
00:44:04,360 --> 00:44:07,160
Speaker 3: remembering things than I am, but she's still in ten

942
00:44:07,200 --> 00:44:09,200
Speaker 3: thousand dollars worth of personal debt? Is that right?

943
00:44:09,480 --> 00:44:11,560
Speaker 2: I think that was right? Yeah? And she was planning

944
00:44:11,600 --> 00:44:12,920
Speaker 2: on paying that off after the.

945
00:44:12,920 --> 00:44:15,759
Speaker 3: Wedding, absolutely, And I really liked that you could see

946
00:44:15,760 --> 00:44:18,279
Speaker 3: the growth, like she's gone from having a personal loan

947
00:44:18,520 --> 00:44:20,799
Speaker 3: to learning that maybe a personal loan wasn't the best

948
00:44:20,800 --> 00:44:23,240
Speaker 3: thing for her. She wants to get out of that debt.

949
00:44:23,360 --> 00:44:25,400
Speaker 3: And I liked that she gave us a rating of

950
00:44:25,480 --> 00:44:27,960
Speaker 3: what passed her was like she was like, oh, like

951
00:44:28,040 --> 00:44:29,400
Speaker 3: I used to be a C or a D, but

952
00:44:29,480 --> 00:44:31,440
Speaker 3: now I'm a B minus. And I just feel like

953
00:44:31,480 --> 00:44:35,080
Speaker 3: that level of introspection is really cool. To see your

954
00:44:35,120 --> 00:44:37,319
Speaker 3: own growth and to see where you've come and where

955
00:44:37,360 --> 00:44:39,839
Speaker 3: you're going. I don't know, that's really cool. What did

956
00:44:39,880 --> 00:44:40,279
Speaker 3: you think?

957
00:44:40,360 --> 00:44:43,440
Speaker 2: I just loved her attitude to start with. She just

958
00:44:43,480 --> 00:44:47,440
Speaker 2: seemed like she had good energy, which I appreciate. But

959
00:44:47,560 --> 00:44:50,640
Speaker 2: beyond that, the things that I picked up on were

960
00:44:50,680 --> 00:44:53,720
Speaker 2: that she's not investing yet, so she hasn't really started

961
00:44:54,080 --> 00:44:58,439
Speaker 2: getting involved with that. Where would you recommend people who

962
00:44:58,560 --> 00:45:02,319
Speaker 2: are very green in that area go? Would you say,

963
00:45:02,400 --> 00:45:04,359
Speaker 2: listen to our old podcasts or are there any other

964
00:45:04,440 --> 00:45:05,560
Speaker 2: resources that we've got.

965
00:45:05,680 --> 00:45:07,759
Speaker 3: The first thing I would say, is it actually really

966
00:45:07,800 --> 00:45:10,160
Speaker 3: important to get out of debt before you start investing,

967
00:45:10,480 --> 00:45:13,560
Speaker 3: Like paying off your debt is an investment in itself.

968
00:45:13,760 --> 00:45:15,960
Speaker 3: A personal loan is going to be costing you about

969
00:45:16,000 --> 00:45:20,600
Speaker 3: fourteen percent in interest, and there's no asset that reasonably

970
00:45:20,640 --> 00:45:24,200
Speaker 3: pays you back fourteen percent. So your money is literally

971
00:45:24,320 --> 00:45:28,040
Speaker 3: better used paying off whatever debt you have that carries

972
00:45:28,080 --> 00:45:31,200
Speaker 3: an interest rate, because you're not going to get that

973
00:45:31,239 --> 00:45:33,720
Speaker 3: return anywhere else. Like if we invest in the share market,

974
00:45:33,760 --> 00:45:36,319
Speaker 3: we know that the average is seven point five. If

975
00:45:36,360 --> 00:45:40,440
Speaker 3: your interest rate is fourteen, that's nearly double. So it

976
00:45:40,560 --> 00:45:43,719
Speaker 3: actually makes sense because in the long term, paying off

977
00:45:43,760 --> 00:45:46,160
Speaker 3: that is going to cost you less. Paying it off

978
00:45:46,200 --> 00:45:49,319
Speaker 3: sooner is going to mean you can invest sooner. And

979
00:45:49,360 --> 00:45:51,400
Speaker 3: I think that it is just really important to point

980
00:45:51,440 --> 00:45:53,560
Speaker 3: that out. So if you are in debt right now,

981
00:45:53,719 --> 00:45:56,880
Speaker 3: that is your priority. I read a really nice quote

982
00:45:56,880 --> 00:45:58,800
Speaker 3: because as you guys know, I love a good insta

983
00:45:58,920 --> 00:46:02,640
Speaker 3: quote quote that said, if you have savings and debt,

984
00:46:02,680 --> 00:46:05,480
Speaker 3: you don't really have savings. And that really spoke to

985
00:46:05,520 --> 00:46:08,480
Speaker 3: me because I felt like that is so true and

986
00:46:08,719 --> 00:46:11,840
Speaker 3: it just made so so much sense to me. But

987
00:46:12,200 --> 00:46:15,000
Speaker 3: it makes sense to be wanting to invest as well.

988
00:46:15,280 --> 00:46:18,640
Speaker 3: So for me, investing is obviously incredibly important because it

989
00:46:18,680 --> 00:46:21,040
Speaker 3: is all about creating financial freedom, and at the end

990
00:46:21,040 --> 00:46:23,360
Speaker 3: of the day, the longer you're invested, the more quote

991
00:46:23,600 --> 00:46:26,920
Speaker 3: free money you end up with. As a licensed financial advisor,

992
00:46:26,960 --> 00:46:29,080
Speaker 3: though I can't tell you exactly where to start, I

993
00:46:29,120 --> 00:46:32,640
Speaker 3: can just educate you on what investing is, how it works,

994
00:46:32,640 --> 00:46:35,480
Speaker 3: and talk about the different products. I know lots of

995
00:46:35,560 --> 00:46:39,440
Speaker 3: people in our community Georgia are really enjoying micro investing

996
00:46:39,440 --> 00:46:42,920
Speaker 3: platforms at the moment. I know in our community, platforms

997
00:46:42,960 --> 00:46:46,839
Speaker 3: like rays and Spaceship are incredibly popular. It's not a

998
00:46:46,840 --> 00:46:50,359
Speaker 3: recommendation from us by any stretch of the imagination, Like

999
00:46:50,400 --> 00:46:52,640
Speaker 3: they are things that I do use personally, and I

1000
00:46:52,680 --> 00:46:55,839
Speaker 3: think that that's worthy of saying, but they are things

1001
00:46:55,920 --> 00:46:58,040
Speaker 3: that you know give you a leg up. You can

1002
00:46:58,040 --> 00:47:01,160
Speaker 3: start rounding up investing your spare change instead of having

1003
00:47:01,160 --> 00:47:04,200
Speaker 3: to invest thousands of dollars from the beginning. So for me,

1004
00:47:04,400 --> 00:47:07,080
Speaker 3: I'd probably be looking at something that helps me increase

1005
00:47:07,120 --> 00:47:11,560
Speaker 3: my financial literacy and my education around shares. And if

1006
00:47:11,560 --> 00:47:13,359
Speaker 3: you have a lump sum of money that you want

1007
00:47:13,360 --> 00:47:15,680
Speaker 3: to be investing, I think it's really worth talking to

1008
00:47:15,719 --> 00:47:19,480
Speaker 3: a financial advisor because in the long term, talking to

1009
00:47:19,520 --> 00:47:22,960
Speaker 3: a financial advisor is going to pay for itself tenfold,

1010
00:47:23,000 --> 00:47:27,080
Speaker 3: I promise you. And I'm also curious to what you

1011
00:47:27,280 --> 00:47:30,719
Speaker 3: would say about her little skin care addiction. There is

1012
00:47:30,760 --> 00:47:33,160
Speaker 3: that okay because it aligns with her values? Or is

1013
00:47:33,200 --> 00:47:35,480
Speaker 3: that something she should maybe rain in a little bit,

1014
00:47:35,480 --> 00:47:38,000
Speaker 3: Georgia King, I see you smirking. We're on zoom, but

1015
00:47:38,040 --> 00:47:40,719
Speaker 3: I can see smirking because you know that I have

1016
00:47:40,800 --> 00:47:45,080
Speaker 3: a skincare addiction exactly. But if it aligns with her values,

1017
00:47:45,200 --> 00:47:47,600
Speaker 3: I think that that's really important. But we also need

1018
00:47:47,640 --> 00:47:50,320
Speaker 3: to make sure that even if something aligns with our values,

1019
00:47:50,360 --> 00:47:53,560
Speaker 3: it's not hindering our future success. So if she's going

1020
00:47:53,640 --> 00:47:56,480
Speaker 3: further into debt because of this, then obviously that's a

1021
00:47:56,480 --> 00:47:59,160
Speaker 3: bad thing. If she is not paying off debt and

1022
00:47:59,239 --> 00:48:02,560
Speaker 3: prioritizing purchasing skin care, then to me, that's not a

1023
00:48:02,600 --> 00:48:04,799
Speaker 3: great thing. But if that is the one thing that

1024
00:48:04,840 --> 00:48:06,600
Speaker 3: she's like, do you know what I save in every

1025
00:48:06,600 --> 00:48:09,000
Speaker 3: other aspect, I'm smashing this debt down, and that is

1026
00:48:09,040 --> 00:48:11,320
Speaker 3: my one thing that I am going to prioritize spending

1027
00:48:11,360 --> 00:48:14,080
Speaker 3: money on because I love it. You go, girl, like,

1028
00:48:14,160 --> 00:48:16,440
Speaker 3: I'm here for that. And I feel like we all

1029
00:48:16,440 --> 00:48:18,880
Speaker 3: have that one thing that we love spending our money on.

1030
00:48:19,160 --> 00:48:21,080
Speaker 3: We shouldn't be judged for that. We should just be

1031
00:48:21,200 --> 00:48:24,799
Speaker 3: really reasonable about how we do that and maybe put

1032
00:48:24,800 --> 00:48:26,560
Speaker 3: a little bit of a budget around it so we

1033
00:48:26,560 --> 00:48:29,640
Speaker 3: can look after ourselves but also make sure that our

1034
00:48:29,680 --> 00:48:32,160
Speaker 3: spending doesn't compromise our larger goals.

1035
00:48:32,239 --> 00:48:34,480
Speaker 2: Yeah, love that well. I feel like we could chat

1036
00:48:34,520 --> 00:48:37,440
Speaker 2: about skin care forever. But it is now time to

1037
00:48:37,480 --> 00:48:38,080
Speaker 2: wrap the show.

1038
00:48:38,120 --> 00:48:40,400
Speaker 3: But just before we head off, we'd like to acknowledge

1039
00:48:40,440 --> 00:48:44,480
Speaker 3: and pay respects to Australia's Aboriginal and Torres Strait Islander people's,

1040
00:48:44,719 --> 00:48:48,920
Speaker 3: the traditional custodians of the lands, waterways and skies across Australia.

1041
00:48:49,280 --> 00:48:51,479
Speaker 3: We thank you for sharing and caring for the land

1042
00:48:51,560 --> 00:48:53,799
Speaker 3: on which we are able to learn. We pay our

1043
00:48:53,840 --> 00:48:56,920
Speaker 3: respects to elders past and present, and share our friendship

1044
00:48:56,960 --> 00:48:57,840
Speaker 3: and kindness.

1045
00:48:58,000 --> 00:49:00,560
Speaker 2: Now let's quickly wrap the boring but important and stuff.

1046
00:49:00,840 --> 00:49:02,960
Speaker 2: The advice shared on She's on the Money is general

1047
00:49:02,960 --> 00:49:06,680
Speaker 2: in nature and does not consider your individual circumstances. She's

1048
00:49:06,719 --> 00:49:09,879
Speaker 2: on the Money exists purely for educational purposes and should

1049
00:49:09,960 --> 00:49:11,920
Speaker 2: not be relied upon to make an investment or a

1050
00:49:11,960 --> 00:49:15,680
Speaker 2: financial decision. And stress less, we promise Victoria Divine is

1051
00:49:15,680 --> 00:49:19,960
Speaker 2: an authorized representative of Australia Pacific Guns Management Propriety Limited

1052
00:49:20,040 --> 00:49:22,399
Speaker 2: ABN three four one three two four six three two

1053
00:49:22,400 --> 00:49:25,680
Speaker 2: five seven AFSL three three nine one five one. And

1054
00:49:25,880 --> 00:49:28,480
Speaker 2: as always a big shout out to Ryan John putting

1055
00:49:28,480 --> 00:49:29,640
Speaker 2: together today's podcast.

1056
00:49:29,719 --> 00:49:33,080
Speaker 3: What an absolute legend he is. I've heard where if

1057
00:49:33,120 --> 00:49:35,200
Speaker 3: we're just so love it? If you guys joined our

1058
00:49:35,200 --> 00:49:38,600
Speaker 3: Facebook group where our community shares money tips and tricks

1059
00:49:38,640 --> 00:49:41,360
Speaker 3: every single day, free of judgment. Search She's on the

1060
00:49:41,360 --> 00:49:44,399
Speaker 3: Money on Facebook and join us. If Facebook's not your thing,

1061
00:49:44,480 --> 00:49:47,200
Speaker 3: you can also find us on Instagram. We're at She's

1062
00:49:47,239 --> 00:49:48,440
Speaker 3: on the Money a US.

1063
00:49:48,560 --> 00:49:56,359
Speaker 2: See see you next week, guys,