1 00:00:00,240 --> 00:00:03,440 Speaker 1: She's on the Money. She's on the Money. 2 00:00:12,640 --> 00:00:15,480 Speaker 2: Hello and welcome to She's on the Money, the podcast 3 00:00:15,480 --> 00:00:18,759 Speaker 2: for millennials who want financial freedom. This episode of She's 4 00:00:18,800 --> 00:00:20,760 Speaker 2: on the Money has been proudly brought to you by 5 00:00:20,800 --> 00:00:23,840 Speaker 2: our friends at eighty six four hundred, Australia's first ever 6 00:00:23,880 --> 00:00:26,360 Speaker 2: smart bank. But more on them later. My name is 7 00:00:26,400 --> 00:00:29,360 Speaker 2: Georgia King, a copywriter and TV assistant who has us 8 00:00:29,360 --> 00:00:33,839 Speaker 2: stacked to learn about money and as always, joining me 9 00:00:33,880 --> 00:00:37,519 Speaker 2: today is the brilliant, the wise, the wonderful finance wizard, 10 00:00:37,560 --> 00:00:38,800 Speaker 2: Miss Victoria Divine. 11 00:00:38,840 --> 00:00:38,920 Speaker 3: Hi. 12 00:00:39,080 --> 00:00:42,640 Speaker 1: V Oh, honestly, you need to calm down on these introductions. 13 00:00:42,920 --> 00:00:46,080 Speaker 1: I'll let you have an inch and you run a mile. Okay. 14 00:00:46,120 --> 00:00:48,600 Speaker 2: Today on the show, we are going to be immersing 15 00:00:48,680 --> 00:00:51,800 Speaker 2: ourselves in the awkward but necessary subject of pay rises, 16 00:00:52,080 --> 00:00:54,279 Speaker 2: helping you figure out when to ask for one and 17 00:00:54,520 --> 00:00:57,400 Speaker 2: how exactly to have the nerve racking chat with your boss. 18 00:00:57,800 --> 00:01:00,320 Speaker 2: Plus we'll delve into how you can make sure you 19 00:01:00,360 --> 00:01:03,080 Speaker 2: actually deserve one before going ahead and asking for it. 20 00:01:03,240 --> 00:01:07,000 Speaker 2: But before we get there, V, Money wins and Confessions. 21 00:01:07,000 --> 00:01:07,840 Speaker 2: How did you go this week? 22 00:01:07,840 --> 00:01:10,880 Speaker 1: Mate? All right? I am this season. Honestly, it's just 23 00:01:10,959 --> 00:01:14,720 Speaker 1: money when after money. I'm sorry if anyone wants to 24 00:01:14,760 --> 00:01:17,800 Speaker 1: hear my money confessions, I've hidden them all, only showing 25 00:01:17,840 --> 00:01:20,160 Speaker 1: my best self. It's Friday twenty so I told you 26 00:01:20,200 --> 00:01:23,120 Speaker 1: on another podcast that Morgan and I swapped gyms, right, 27 00:01:23,959 --> 00:01:26,920 Speaker 1: So this year we have been so committed and we've 28 00:01:26,920 --> 00:01:29,560 Speaker 1: been going very often. So cost per ware of our 29 00:01:29,640 --> 00:01:33,920 Speaker 1: Dum membership pretty high, pretty good. But to add to that, 30 00:01:34,200 --> 00:01:37,000 Speaker 1: Morgan and I used to go for sneaky eggs on 31 00:01:37,160 --> 00:01:40,640 Speaker 1: toast maybe once a week to scandalous. 32 00:01:40,760 --> 00:01:42,240 Speaker 2: Yeah, but like smashed up. 33 00:01:42,480 --> 00:01:45,840 Speaker 1: No notice about. We definitely want houses, but we are 34 00:01:45,840 --> 00:01:48,120 Speaker 1: in this position where we used to sneak at breakfast 35 00:01:48,120 --> 00:01:51,000 Speaker 1: maybe like on a Thursday or a Friday morning before work. 36 00:01:51,120 --> 00:01:54,400 Speaker 1: Treat yourself, but that's easily forty five dollars, bit snaky, 37 00:01:54,480 --> 00:01:57,320 Speaker 1: treat yourself whatever. I was going through the supermarket the 38 00:01:57,400 --> 00:02:01,320 Speaker 1: other day and I saw a microwave egg poke interesting 39 00:02:01,600 --> 00:02:05,720 Speaker 1: sale or worth here for it, purchased it. Now, I'm 40 00:02:05,720 --> 00:02:08,640 Speaker 1: Morgan and I have eggs every morning at work and 41 00:02:08,720 --> 00:02:12,040 Speaker 1: they taste cafe quality. They are cafe quality. Gee, you 42 00:02:12,080 --> 00:02:14,600 Speaker 1: actually like you don't know about this egg. I'm surprised. 43 00:02:14,680 --> 00:02:16,320 Speaker 1: What did you have for breakfast to. 44 00:02:16,360 --> 00:02:18,800 Speaker 2: Girls whipping up some googies this morning, and they have 45 00:02:18,840 --> 00:02:20,560 Speaker 2: a flawless yes. 46 00:02:20,800 --> 00:02:23,520 Speaker 1: Thank you. So now every day we're having poached eggs 47 00:02:23,520 --> 00:02:26,280 Speaker 1: on toast in the office and we can afford houses. 48 00:02:26,360 --> 00:02:29,360 Speaker 2: Yeah, honestly, girls, proud of you. 49 00:02:29,400 --> 00:02:31,160 Speaker 1: Tell me you've got a better money than being able 50 00:02:31,160 --> 00:02:31,760 Speaker 1: to afford house. 51 00:02:31,840 --> 00:02:35,560 Speaker 2: Look, it's not better than that, but mine this week 52 00:02:35,600 --> 00:02:38,240 Speaker 2: is a win as well. Not getting eggs this morning, 53 00:02:38,440 --> 00:02:40,760 Speaker 2: well that is a win, I say, for twenty bucks. 54 00:02:40,840 --> 00:02:44,040 Speaker 2: So one of my New Year's resolutions this year was 55 00:02:44,200 --> 00:02:46,040 Speaker 2: to do a little bit more yoga, get a little 56 00:02:46,040 --> 00:02:46,639 Speaker 2: bit more zen. 57 00:02:47,440 --> 00:02:50,120 Speaker 1: So I found this cea working with me. She needs 58 00:02:50,200 --> 00:02:50,639 Speaker 1: it too. 59 00:02:51,720 --> 00:02:54,880 Speaker 2: So I found this beautiful yoga studio on the Mornington Peninsula. 60 00:02:55,440 --> 00:02:57,880 Speaker 2: And admittedly it's quite expensive to go to just to 61 00:02:57,919 --> 00:03:00,200 Speaker 2: one of classes, but I was scrolling up on the 62 00:03:00,200 --> 00:03:02,560 Speaker 2: app and found that they have this ten class past 63 00:03:02,600 --> 00:03:05,919 Speaker 2: deal saving you ten dollars per session. So I've actually 64 00:03:05,960 --> 00:03:08,760 Speaker 2: saved myself like one hundred bucks because I literally love 65 00:03:08,800 --> 00:03:11,959 Speaker 2: it and I do go quite regularly, so I think 66 00:03:12,000 --> 00:03:14,280 Speaker 2: that's a win. Good word, it's treating myself, but no 67 00:03:14,480 --> 00:03:15,040 Speaker 2: still wit. 68 00:03:15,080 --> 00:03:17,480 Speaker 1: Tweating yourself while saving I love it. 69 00:03:17,520 --> 00:03:20,079 Speaker 2: Good work gee, and as always, it's been a pearler 70 00:03:20,120 --> 00:03:21,959 Speaker 2: of a week for so many in the shoes on 71 00:03:22,000 --> 00:03:25,160 Speaker 2: the money At Facebook community Victoria, did anyone stick out 72 00:03:25,200 --> 00:03:25,920 Speaker 2: to you this week? 73 00:03:26,160 --> 00:03:29,200 Speaker 1: I have a money win from Rose. Think you had 74 00:03:29,200 --> 00:03:31,079 Speaker 1: a money win for a Rose last week? I think 75 00:03:31,080 --> 00:03:33,520 Speaker 1: I could too. Yeah. Rose is the name of the 76 00:03:33,600 --> 00:03:36,480 Speaker 1: month and the Facebook group she said money Win. I 77 00:03:36,560 --> 00:03:39,600 Speaker 1: started my first full time job after UNI and went 78 00:03:39,640 --> 00:03:42,080 Speaker 1: and saw an accountant and financial planner this week to 79 00:03:42,120 --> 00:03:45,400 Speaker 1: discuss my money goals and plan. Feeling so much more 80 00:03:45,520 --> 00:03:48,960 Speaker 1: educated after listening to the podcast series. Told my accountant 81 00:03:49,000 --> 00:03:50,960 Speaker 1: all about it and she was super impressed. 82 00:03:51,080 --> 00:03:51,840 Speaker 2: Amazing. 83 00:03:52,040 --> 00:03:54,320 Speaker 1: Well, I don't know. I liked that one. I love 84 00:03:54,400 --> 00:03:58,480 Speaker 1: that she's prioritizing getting financial advice from the very beginning 85 00:03:58,520 --> 00:04:01,240 Speaker 1: of her journey instead of waiting and further down the track, 86 00:04:01,480 --> 00:04:03,040 Speaker 1: because you can start now. 87 00:04:03,000 --> 00:04:03,560 Speaker 2: Very sensible. 88 00:04:03,720 --> 00:04:04,320 Speaker 1: What have you got? 89 00:04:04,440 --> 00:04:07,200 Speaker 2: G So my money win is from Rachel who says 90 00:04:07,240 --> 00:04:10,240 Speaker 2: money win two smiley face emojis with the love hearts 91 00:04:10,240 --> 00:04:12,840 Speaker 2: on the ice. I run my own business, so usually 92 00:04:12,880 --> 00:04:15,120 Speaker 2: the only letters I get in the mail unnotices to 93 00:04:15,120 --> 00:04:18,000 Speaker 2: say it's time to pay my insurance or tax or 94 00:04:18,080 --> 00:04:20,680 Speaker 2: GSD but today I got a letter to say I've 95 00:04:20,680 --> 00:04:23,480 Speaker 2: paid off my car loan, which now gives me six hundred. 96 00:04:23,200 --> 00:04:24,160 Speaker 1: And sixty dollars a month. 97 00:04:24,320 --> 00:04:27,480 Speaker 2: Why And it's perfect timing because she leaves to go 98 00:04:27,520 --> 00:04:29,880 Speaker 2: to Canada for three weeks on Saturday, where she will 99 00:04:29,880 --> 00:04:32,120 Speaker 2: try not to spend all of her savings. 100 00:04:31,760 --> 00:04:34,960 Speaker 1: Try hard, Rachel. I also love that you've been literally 101 00:04:35,000 --> 00:04:37,920 Speaker 1: describing the emoji that the people are us. Yeah. I 102 00:04:37,920 --> 00:04:39,480 Speaker 1: feel like that's really crucial. 103 00:04:39,680 --> 00:04:41,839 Speaker 2: I should a she She did add a crying face 104 00:04:41,960 --> 00:04:43,480 Speaker 2: laughing emoji at the end of that as well. 105 00:04:43,560 --> 00:04:45,720 Speaker 1: So okay, good, good description, Thanks. 106 00:04:45,480 --> 00:04:48,640 Speaker 2: You, and now into the juicy main chat for today. 107 00:04:48,880 --> 00:04:52,720 Speaker 2: Pay rises research indicates that millennials are more optimistic and 108 00:04:52,800 --> 00:04:55,599 Speaker 2: confident than generations before them in the area of pay rises, 109 00:04:55,839 --> 00:04:58,760 Speaker 2: with higher levels of assertiveness and self esteem. But there 110 00:04:58,839 --> 00:05:01,640 Speaker 2: definitely seems to be perception out there that millennials are 111 00:05:01,839 --> 00:05:04,600 Speaker 2: entitled within this space, V do you think that this 112 00:05:04,680 --> 00:05:06,440 Speaker 2: perception holds any truth to it? 113 00:05:06,640 --> 00:05:08,840 Speaker 1: I think that this is actually a little bit twofold. 114 00:05:08,960 --> 00:05:11,840 Speaker 1: There is definitely more of a sense of me, me, me, 115 00:05:12,279 --> 00:05:15,359 Speaker 1: and taking care of ourselves, which I actually really like 116 00:05:15,480 --> 00:05:17,919 Speaker 1: and think it's putting our mental and physical health first 117 00:05:17,960 --> 00:05:20,640 Speaker 1: and as a priority. But I can also see why 118 00:05:20,680 --> 00:05:23,680 Speaker 1: previous generations see us as being more entitled and more 119 00:05:23,680 --> 00:05:27,760 Speaker 1: flexible and have more expectations on our employers, or our 120 00:05:27,800 --> 00:05:30,520 Speaker 1: family or our friends because we don't work in the 121 00:05:30,560 --> 00:05:33,560 Speaker 1: same way that they used to. If we think about it, 122 00:05:33,600 --> 00:05:36,520 Speaker 1: they didn't have access to the internet. And whilst I'm 123 00:05:36,560 --> 00:05:39,559 Speaker 1: not talking about a lack of education here, I'm talking 124 00:05:39,560 --> 00:05:42,400 Speaker 1: about a lack of freedom. So we have so much 125 00:05:42,440 --> 00:05:45,520 Speaker 1: freedom nowadays to work from wherever we want. We have 126 00:05:45,680 --> 00:05:48,599 Speaker 1: access to information that previously we would have had to 127 00:05:48,640 --> 00:05:51,279 Speaker 1: travel to a library to access or you know, get 128 00:05:51,279 --> 00:05:55,120 Speaker 1: the encyclopedia out, Whereas now I ask Siri every single morning, 129 00:05:55,279 --> 00:05:58,000 Speaker 1: what's the weather, what's this, what's the traffic? Like, how's 130 00:05:58,040 --> 00:06:01,000 Speaker 1: that going to work? And the Internet enabling us to 131 00:06:01,040 --> 00:06:05,000 Speaker 1: be far more productive, but also see the opportunity. So 132 00:06:05,080 --> 00:06:07,920 Speaker 1: employers are seeing this and being more flexible and allowing 133 00:06:08,000 --> 00:06:10,440 Speaker 1: us to work more flexible. But the more this is happening, 134 00:06:10,440 --> 00:06:13,039 Speaker 1: the more people are expecting it. I feel like entitlement 135 00:06:13,120 --> 00:06:16,719 Speaker 1: is a really harsh word and something that is quite 136 00:06:16,760 --> 00:06:21,279 Speaker 1: negatively connotated, which is completely undeserving. Yes, I do expect 137 00:06:21,320 --> 00:06:24,000 Speaker 1: better from my employers. Yes, I do expect better from 138 00:06:24,080 --> 00:06:27,080 Speaker 1: my peers and family and friends. And it's not because 139 00:06:27,160 --> 00:06:30,640 Speaker 1: I'm an entitled person. It's because I want a quality 140 00:06:30,680 --> 00:06:33,240 Speaker 1: for everybody, and I want people to be treated exactly 141 00:06:33,279 --> 00:06:35,839 Speaker 1: the same. I want people to be treated well. I 142 00:06:35,920 --> 00:06:38,960 Speaker 1: don't want people to be in a situation where they 143 00:06:38,960 --> 00:06:41,839 Speaker 1: are changed to their desk Monday to Friday, nine till 144 00:06:41,920 --> 00:06:45,200 Speaker 1: five and feel as though they are a cog in 145 00:06:45,240 --> 00:06:47,839 Speaker 1: a bigger wheel. I want people to contribute. I want 146 00:06:47,839 --> 00:06:49,800 Speaker 1: them to be a part of the bigger journey, and 147 00:06:49,839 --> 00:06:52,160 Speaker 1: I feel like we can expect that from our employers. 148 00:06:52,560 --> 00:06:54,880 Speaker 2: I was going to say, be as well. The nine 149 00:06:54,920 --> 00:06:57,680 Speaker 2: to five culture, I think has completely shifted. We no 150 00:06:57,760 --> 00:07:02,000 Speaker 2: longer go home, shut off dinner, go to bed. Now 151 00:07:02,000 --> 00:07:04,080 Speaker 2: we've got emails on our phones. We're looking at them 152 00:07:04,200 --> 00:07:07,080 Speaker 2: all night long. Like there's kind of more expected of 153 00:07:07,160 --> 00:07:09,360 Speaker 2: us now because we're never really removed from the workplace. 154 00:07:09,400 --> 00:07:10,840 Speaker 2: If that makes any kind of sense. 155 00:07:10,760 --> 00:07:13,680 Speaker 1: Yeah, absolutely. And I think that plays into what work 156 00:07:13,720 --> 00:07:15,920 Speaker 1: life balance is and how that works and what that 157 00:07:15,960 --> 00:07:19,000 Speaker 1: looks like, because work life balance used to look like 158 00:07:19,040 --> 00:07:21,760 Speaker 1: you put your pen down, you get up from your desk, 159 00:07:21,800 --> 00:07:24,560 Speaker 1: and you walk out and you actually can't do any work, 160 00:07:24,720 --> 00:07:26,640 Speaker 1: whereas I take my work home with me. And I'm 161 00:07:26,640 --> 00:07:28,920 Speaker 1: probably a really bad example of someone who has a 162 00:07:29,040 --> 00:07:31,560 Speaker 1: terrible work life balance, as you would know, Gee, But 163 00:07:32,160 --> 00:07:36,400 Speaker 1: I'm someone who also loves the flexibility that having access 164 00:07:36,440 --> 00:07:39,120 Speaker 1: to my emails and my work and my team on 165 00:07:39,200 --> 00:07:42,000 Speaker 1: my phone is so empowering. Like I know that I 166 00:07:42,040 --> 00:07:44,440 Speaker 1: can step away for a coffee or I cannot come 167 00:07:44,480 --> 00:07:47,080 Speaker 1: to work that day and work from home while still 168 00:07:47,160 --> 00:07:49,520 Speaker 1: having the same level of access to my team and 169 00:07:49,640 --> 00:07:53,360 Speaker 1: my workplace as I did previously being in the office. 170 00:07:53,520 --> 00:07:55,560 Speaker 1: So I think it has shifted, but our work life 171 00:07:55,560 --> 00:07:59,080 Speaker 1: balances have changed, and now work is seeping into life 172 00:07:59,120 --> 00:08:01,160 Speaker 1: and life is seeping in to work. So I don't 173 00:08:01,160 --> 00:08:05,640 Speaker 1: actually believe in this idea of having a professional you 174 00:08:05,800 --> 00:08:08,280 Speaker 1: versus a personal you. I'm very much a believer of 175 00:08:08,440 --> 00:08:11,120 Speaker 1: it is a holistic que and you are you at 176 00:08:11,160 --> 00:08:12,880 Speaker 1: work and you are you at home, and it is 177 00:08:12,920 --> 00:08:15,440 Speaker 1: one person fronting up and we need to take that 178 00:08:15,480 --> 00:08:18,360 Speaker 1: into consideration. I think talking about things at work is 179 00:08:18,400 --> 00:08:20,560 Speaker 1: really important. I think being on the same page as 180 00:08:20,600 --> 00:08:24,720 Speaker 1: your employees and your employers is essential for a successful 181 00:08:24,760 --> 00:08:26,440 Speaker 1: business relationship. Alrighty VZ. 182 00:08:26,440 --> 00:08:28,920 Speaker 2: So we've done some research and according to the Human 183 00:08:29,040 --> 00:08:32,080 Speaker 2: Rights Commission, the average Australian woman, just like you and I, 184 00:08:32,520 --> 00:08:35,080 Speaker 2: has to work an extra fifty six days a year 185 00:08:35,480 --> 00:08:37,520 Speaker 2: in order to earn as much as a man doing 186 00:08:37,559 --> 00:08:38,760 Speaker 2: the exact same thing. 187 00:08:39,120 --> 00:08:41,200 Speaker 1: Yes, I have heard this terrible. 188 00:08:41,720 --> 00:08:44,480 Speaker 2: One factor contributing to this issue is that women are 189 00:08:44,600 --> 00:08:46,240 Speaker 2: less likely than men to ask for a. 190 00:08:46,320 --> 00:08:49,720 Speaker 1: Pay right they are. And there's also a stat that 191 00:08:50,000 --> 00:08:51,960 Speaker 1: I don't love but I love to talk about, and 192 00:08:52,040 --> 00:08:54,559 Speaker 1: that's that men apply for a job when they feel 193 00:08:54,559 --> 00:08:58,000 Speaker 1: like they meet sixty percent of the qualifications. Well, women 194 00:08:58,080 --> 00:09:00,600 Speaker 1: only ever apply for that job if they meet one 195 00:09:00,640 --> 00:09:03,360 Speaker 1: hundred percent of that qualification particular. Yeah, I read that 196 00:09:03,400 --> 00:09:05,559 Speaker 1: in a book called Lean In Yeah a little while ago, 197 00:09:05,640 --> 00:09:07,440 Speaker 1: and I have been obsessed with it since then. It 198 00:09:07,520 --> 00:09:11,240 Speaker 1: actually really frustrates me because I feel like that plays 199 00:09:11,280 --> 00:09:14,000 Speaker 1: into confidence as well, Like that is telling me that 200 00:09:14,040 --> 00:09:17,160 Speaker 1: men are more confident about their ability at sixty percent 201 00:09:17,440 --> 00:09:19,559 Speaker 1: than a lot of women are when they feel like 202 00:09:19,600 --> 00:09:21,719 Speaker 1: they're at one hundred percent. And to me, that's too 203 00:09:21,800 --> 00:09:24,280 Speaker 1: much and it tells me that we as women, and 204 00:09:24,320 --> 00:09:26,199 Speaker 1: I know there are a number of men that listen 205 00:09:26,240 --> 00:09:29,319 Speaker 1: to this podcast but this is more I guess it 206 00:09:29,400 --> 00:09:32,520 Speaker 1: is more fearmale orientated. It's just we as women need 207 00:09:32,559 --> 00:09:35,280 Speaker 1: to have more faith in ourselves when applying for jobs 208 00:09:35,559 --> 00:09:38,480 Speaker 1: and know that we shouldn't be putting ourselves out of 209 00:09:38,480 --> 00:09:40,520 Speaker 1: the job market because we don't meet one hundred percent 210 00:09:40,559 --> 00:09:42,920 Speaker 1: of the criteria. Like we can learn things on the job. 211 00:09:43,000 --> 00:09:45,360 Speaker 1: You are smart, you are independent, and you have the 212 00:09:45,400 --> 00:09:47,560 Speaker 1: ability to learn. So if you are in a physition 213 00:09:47,559 --> 00:09:49,680 Speaker 1: where you're deciding not to apply for a job because 214 00:09:49,679 --> 00:09:52,600 Speaker 1: you didn't meet one hundred percent of the qualifications, why 215 00:09:52,600 --> 00:09:55,520 Speaker 1: didn't you just apply and see what happened. I also 216 00:09:55,720 --> 00:09:59,000 Speaker 1: recently read a study that was published in Linda Babcock's 217 00:09:59,000 --> 00:10:02,760 Speaker 1: book Women Don't, and she found the only seven percent 218 00:10:02,800 --> 00:10:05,440 Speaker 1: of women will actually try and negotiate a salary when 219 00:10:05,520 --> 00:10:09,040 Speaker 1: applying for a new job. They'll just often just accept, yeah, 220 00:10:09,160 --> 00:10:12,320 Speaker 1: just take what is offered, thinking it's not negotiable, compared 221 00:10:12,360 --> 00:10:15,240 Speaker 1: to fifty seven percent of men who will go into 222 00:10:15,280 --> 00:10:17,800 Speaker 1: that and ask for a different salary if they feel 223 00:10:17,800 --> 00:10:21,559 Speaker 1: like they deserve it, and then once they're working, less 224 00:10:21,559 --> 00:10:23,839 Speaker 1: than one in five women actually ask for a pay 225 00:10:23,920 --> 00:10:26,679 Speaker 1: rise without being prompted by their manager or a colleague 226 00:10:26,960 --> 00:10:29,800 Speaker 1: compared to one in three men. So for me, I 227 00:10:29,840 --> 00:10:32,200 Speaker 1: don't know if this is just a confidence issue, but 228 00:10:32,280 --> 00:10:35,040 Speaker 1: I do think the bias comes into play because there 229 00:10:35,080 --> 00:10:37,880 Speaker 1: was an Australian study that happened recently that found that 230 00:10:37,920 --> 00:10:40,920 Speaker 1: when women asked for pay rises, they were twenty five 231 00:10:41,000 --> 00:10:44,000 Speaker 1: percent less likely to get them than men. Really, so 232 00:10:44,240 --> 00:10:46,800 Speaker 1: I feel like we are actually on the back foot here. 233 00:10:47,080 --> 00:10:49,240 Speaker 1: We aren't asking for them, but then when we do, 234 00:10:49,320 --> 00:10:51,600 Speaker 1: we're less likely to get them. So it does feel 235 00:10:51,640 --> 00:10:54,560 Speaker 1: a little bit unfair and exactly why you and I 236 00:10:54,679 --> 00:10:58,240 Speaker 1: decided to do a podcast on exactly how this works. Yeah, 237 00:10:58,280 --> 00:11:01,679 Speaker 1: so g with all of that in line and knowing 238 00:11:01,679 --> 00:11:05,000 Speaker 1: that this is something that I am honestly, wildly passionate about, 239 00:11:05,080 --> 00:11:07,120 Speaker 1: Like I say this all the time. I fosed it 240 00:11:07,120 --> 00:11:10,120 Speaker 1: all over my Instagram. Know you're worth and then add tax? Yeah, 241 00:11:10,160 --> 00:11:10,959 Speaker 1: where do we start? 242 00:11:11,040 --> 00:11:11,160 Speaker 2: Like? 243 00:11:11,200 --> 00:11:13,480 Speaker 1: What do you need to know to be able to 244 00:11:13,520 --> 00:11:16,280 Speaker 1: be confident in negotiating your salaries and pay rises? 245 00:11:16,880 --> 00:11:19,200 Speaker 2: How do we empower ourselves to have those conversations with 246 00:11:19,280 --> 00:11:22,960 Speaker 2: our bosses? And how do we first know what we're worth? 247 00:11:23,240 --> 00:11:25,520 Speaker 1: Look, we've talked about entitlement and stuff like that, and 248 00:11:25,520 --> 00:11:27,640 Speaker 1: I think this is a different conversation. I think we 249 00:11:27,640 --> 00:11:29,840 Speaker 1: need to pick up entitlement and put it on the 250 00:11:29,920 --> 00:11:33,520 Speaker 1: side and start with, well, do your research, work out 251 00:11:33,559 --> 00:11:36,320 Speaker 1: what your role is actually worth. Don't just walk into 252 00:11:36,360 --> 00:11:38,040 Speaker 1: your boss's office and be like I listen to the 253 00:11:38,040 --> 00:11:41,960 Speaker 1: She's on the Money podcast, I should negotiate my salary, like, 254 00:11:42,080 --> 00:11:45,040 Speaker 1: do your research and not just what your role is worth. 255 00:11:45,120 --> 00:11:47,400 Speaker 1: Have a look at your job description. Are you actually 256 00:11:47,400 --> 00:11:49,880 Speaker 1: meeting all of the kbis and targets set out in that? 257 00:11:50,120 --> 00:11:54,000 Speaker 1: Because it's very hard as someone who manages people to 258 00:11:54,040 --> 00:11:57,240 Speaker 1: say all right, you can have a salary increase when 259 00:11:57,559 --> 00:12:00,000 Speaker 1: they are just expecting it. I think that you really 260 00:12:00,120 --> 00:12:02,600 Speaker 1: need to take this piece of entitlement, put it to 261 00:12:02,600 --> 00:12:04,560 Speaker 1: the side and say well, I've got it to the side, 262 00:12:04,600 --> 00:12:07,800 Speaker 1: but also take it into consideration. Just because you've worked 263 00:12:07,840 --> 00:12:11,400 Speaker 1: somewhere for twelve months does not mean that you deserve 264 00:12:11,440 --> 00:12:14,280 Speaker 1: a salary increase. You need to prove your worth, like 265 00:12:14,520 --> 00:12:16,520 Speaker 1: jot down all of the things that you've done to 266 00:12:16,559 --> 00:12:18,920 Speaker 1: add value that have been above and beyond the role 267 00:12:18,960 --> 00:12:21,720 Speaker 1: that you're doing. Because, in my opinion, if you've got 268 00:12:21,760 --> 00:12:24,720 Speaker 1: a job description and you're just meeting the criteria of 269 00:12:24,760 --> 00:12:27,720 Speaker 1: that job description. There's absolutely no need for a salary 270 00:12:27,720 --> 00:12:30,959 Speaker 1: increase beyond CBI because you're doing the job that you're 271 00:12:30,960 --> 00:12:34,520 Speaker 1: being paid to exactly, Like what additional value are you adding? Yep, 272 00:12:34,800 --> 00:12:36,880 Speaker 1: and how do you articulate that? And that takes a 273 00:12:36,920 --> 00:12:38,200 Speaker 1: little bit of confidence too. 274 00:12:38,360 --> 00:12:41,480 Speaker 2: Absolutely, so you're saying that there isn't a year or 275 00:12:41,640 --> 00:12:44,600 Speaker 2: year increase in pay. I know a few of my 276 00:12:44,679 --> 00:12:46,320 Speaker 2: friends think that that's a thing, and I can't have 277 00:12:46,320 --> 00:12:47,439 Speaker 2: thought it was a thing when I'd been in my 278 00:12:47,920 --> 00:12:50,079 Speaker 2: job for a year and then it came to twelve 279 00:12:50,080 --> 00:12:51,040 Speaker 2: months and they were like. 280 00:12:51,200 --> 00:12:54,840 Speaker 1: No salary periace. Yeah. Yeah, Look, it's not government enforce 281 00:12:55,320 --> 00:12:57,800 Speaker 1: to get a salary increase. It is quite common for 282 00:12:57,840 --> 00:13:00,880 Speaker 1: people to write into their contracts that you get a 283 00:13:00,920 --> 00:13:05,040 Speaker 1: salary increase in line with inflation. So you might have 284 00:13:05,160 --> 00:13:07,640 Speaker 1: your salary increase by like one point eight to three 285 00:13:07,640 --> 00:13:10,960 Speaker 1: percent depending on the year, but often that is in 286 00:13:11,000 --> 00:13:14,360 Speaker 1: your contract and predetermined. So that's definitely something that you 287 00:13:14,400 --> 00:13:17,880 Speaker 1: should be talking about when setting your salary in a 288 00:13:17,920 --> 00:13:20,040 Speaker 1: new role, because if you are going to be in 289 00:13:20,040 --> 00:13:22,440 Speaker 1: that role for ten years and inflation has gone up 290 00:13:22,480 --> 00:13:24,960 Speaker 1: by ten percent in that period of time, you're actually 291 00:13:25,000 --> 00:13:27,000 Speaker 1: on the back foot. If you're still on the same. 292 00:13:26,840 --> 00:13:29,400 Speaker 2: Salary already, V, what else do I need to consider? 293 00:13:29,640 --> 00:13:32,720 Speaker 1: So once you've armed yourself with information and done some research, 294 00:13:32,760 --> 00:13:36,199 Speaker 1: so you actually understand the industry and you understand what 295 00:13:36,240 --> 00:13:39,480 Speaker 1: you're asking for, So look into changes in your industry, 296 00:13:39,600 --> 00:13:43,680 Speaker 1: understand market conditions, and even your own workload and qualifications. 297 00:13:43,720 --> 00:13:46,520 Speaker 1: All of these things come into play. It's really important 298 00:13:46,520 --> 00:13:50,040 Speaker 1: to not focus on your personal goals. Don't go, oh, well, 299 00:13:50,120 --> 00:13:52,480 Speaker 1: I had the goal of earning sixty five thousand dollars 300 00:13:52,520 --> 00:13:54,400 Speaker 1: by the end of the year, so therefore I would 301 00:13:54,440 --> 00:13:56,880 Speaker 1: like a pay increase. You really need to focus on 302 00:13:57,000 --> 00:14:00,520 Speaker 1: outcomes instead of forming your approach around and why you 303 00:14:00,600 --> 00:14:03,480 Speaker 1: want to pay rise. It's more about positioning it in 304 00:14:03,559 --> 00:14:05,640 Speaker 1: terms of an argument to say, well, I believe I 305 00:14:05,679 --> 00:14:07,680 Speaker 1: deserve a pay rise because I've done these things, and 306 00:14:07,800 --> 00:14:10,000 Speaker 1: I've contributed to the business in this way, and I 307 00:14:10,120 --> 00:14:13,560 Speaker 1: understand that I'm helping you be successful, and therefore I 308 00:14:13,640 --> 00:14:15,719 Speaker 1: believe this, this and this. It becomes far more of 309 00:14:15,760 --> 00:14:19,960 Speaker 1: a pragmatic conversation than I would like a pay rise, 310 00:14:20,280 --> 00:14:23,840 Speaker 1: because that honestly doesn't stand up nearly well enough. And 311 00:14:23,920 --> 00:14:25,600 Speaker 1: I mean, there are going to be people who are like, well, 312 00:14:25,640 --> 00:14:27,640 Speaker 1: I just asked for a pay rise and I got it. Yeah, 313 00:14:27,640 --> 00:14:29,520 Speaker 1: and that's fair. But I think we really need to 314 00:14:29,520 --> 00:14:31,960 Speaker 1: do a little bit of self reflection to understand what 315 00:14:32,160 --> 00:14:34,520 Speaker 1: that actually means and why we're asking for it, so 316 00:14:34,560 --> 00:14:37,440 Speaker 1: that we can take that entitlement piece off the table 317 00:14:37,520 --> 00:14:39,920 Speaker 1: to say, well, actually, I'm not entitled about this. I'm 318 00:14:39,960 --> 00:14:42,320 Speaker 1: going above and beyond. I'm worth more. I know this, 319 00:14:42,520 --> 00:14:45,320 Speaker 1: and it becomes a one sided argument, Like you can't 320 00:14:45,400 --> 00:14:48,040 Speaker 1: walk into someone's office and say, all right, well, I 321 00:14:48,120 --> 00:14:50,520 Speaker 1: believe I'm worth more because of these reasons. You've got 322 00:14:50,560 --> 00:14:53,240 Speaker 1: really solid facts, and then go, no, you haven't done that, 323 00:14:53,760 --> 00:14:56,320 Speaker 1: like put them in a position where all of your 324 00:14:56,320 --> 00:14:58,800 Speaker 1: facts are indispakable. Yeah, exactly. 325 00:14:59,280 --> 00:15:01,080 Speaker 2: So I need to be proving my worth, which is 326 00:15:01,120 --> 00:15:03,480 Speaker 2: absolutely fair, before I'm ready for a pay rise. 327 00:15:03,720 --> 00:15:06,080 Speaker 1: Yes, if you want more money, do the work. 328 00:15:06,200 --> 00:15:07,880 Speaker 2: But does that mean that I need to be the 329 00:15:07,880 --> 00:15:09,360 Speaker 2: first one in the office in the morning and then 330 00:15:09,360 --> 00:15:10,320 Speaker 2: the last one to leave. 331 00:15:11,000 --> 00:15:11,080 Speaker 4: No. 332 00:15:11,400 --> 00:15:14,640 Speaker 1: And I think that that's such a bad example of 333 00:15:14,640 --> 00:15:17,400 Speaker 1: what's going on. And I'm pretty opinionated on this, I 334 00:15:17,520 --> 00:15:19,240 Speaker 1: know if you guys know, but I do have a 335 00:15:19,280 --> 00:15:22,000 Speaker 1: couple of opinions like to throw around. I think that 336 00:15:22,080 --> 00:15:24,120 Speaker 1: if you have a nine to five job, it's your 337 00:15:24,160 --> 00:15:26,680 Speaker 1: manager or your business's job to make sure that the 338 00:15:26,720 --> 00:15:29,360 Speaker 1: workload they are providing you with fits between those hours. 339 00:15:29,440 --> 00:15:32,480 Speaker 1: Ye and if you are working stupidly long hours that 340 00:15:32,560 --> 00:15:34,960 Speaker 1: are outside of that, one of two things is happening. 341 00:15:35,120 --> 00:15:37,760 Speaker 1: They are either giving you too much work and you 342 00:15:37,880 --> 00:15:40,840 Speaker 1: really need to go back and renegotiate your workload with 343 00:15:40,880 --> 00:15:43,240 Speaker 1: your employer and talk about what you're doing. In addition, 344 00:15:43,720 --> 00:15:46,600 Speaker 1: or you're fluffing around a little bit at work and 345 00:15:46,680 --> 00:15:49,200 Speaker 1: not getting the job done within the period of time 346 00:15:49,280 --> 00:15:52,480 Speaker 1: that is expected to get done. In Whilst I do 347 00:15:52,680 --> 00:15:55,920 Speaker 1: absolutely well and truly appreciate people going above and beyond, 348 00:15:56,320 --> 00:15:58,840 Speaker 1: I don't believe that going above and beyond is related 349 00:15:58,920 --> 00:16:02,360 Speaker 1: to additional workouts and being that person who's last out 350 00:16:02,400 --> 00:16:04,520 Speaker 1: of the office and first in in the morning. I 351 00:16:04,520 --> 00:16:07,880 Speaker 1: think that's a ridiculous expectation. It's about the value that 352 00:16:07,920 --> 00:16:10,600 Speaker 1: you are adding while you are in the office during 353 00:16:10,680 --> 00:16:12,840 Speaker 1: work hours. Are you that guy that's hanging out at 354 00:16:12,880 --> 00:16:15,480 Speaker 1: the coffee machine every day and maybe wearing a pair 355 00:16:15,480 --> 00:16:18,120 Speaker 1: of jeans when it's actually a corporate office, I'm wearing 356 00:16:18,160 --> 00:16:21,840 Speaker 1: jeans right now. Yeah, I'm sorry g Or to flip that. 357 00:16:22,280 --> 00:16:25,120 Speaker 1: Are you showing up present, excited about the work that 358 00:16:25,160 --> 00:16:28,120 Speaker 1: you're doing, proving that you are wanting to be there? 359 00:16:28,240 --> 00:16:31,240 Speaker 1: You are showing up confidently. You are handing over concrete 360 00:16:31,320 --> 00:16:34,160 Speaker 1: data that shows your boss that you are putting in 361 00:16:34,200 --> 00:16:37,280 Speaker 1: the energy and the time and that you value your job. 362 00:16:37,480 --> 00:16:40,360 Speaker 1: I feel like Effet won't betray you in this situation. 363 00:16:40,720 --> 00:16:43,600 Speaker 1: And it's not about the hours. It's actually about the 364 00:16:43,680 --> 00:16:45,960 Speaker 1: value and having a think about well, how do I 365 00:16:46,000 --> 00:16:48,600 Speaker 1: show my boss that I'm more valuable? Is it going 366 00:16:48,600 --> 00:16:50,760 Speaker 1: all right? Well, I prove checked this a couple more times, 367 00:16:50,800 --> 00:16:53,120 Speaker 1: like I've got this idea. And I'm a very very 368 00:16:53,160 --> 00:16:56,000 Speaker 1: big believer in never asking your manager for something without 369 00:16:56,040 --> 00:16:59,240 Speaker 1: having an answer for them, always going to a manager like, hey, cool, 370 00:16:59,320 --> 00:17:01,440 Speaker 1: I would like to do this in this or I've 371 00:17:01,440 --> 00:17:03,720 Speaker 1: got a question on A, B and C thinking the 372 00:17:03,720 --> 00:17:05,639 Speaker 1: answer is this because I've already done the research, but 373 00:17:05,800 --> 00:17:08,840 Speaker 1: you know, is this right is really important? Instead of going, 374 00:17:08,880 --> 00:17:11,520 Speaker 1: oh help me, I don't get it, I don't understand. 375 00:17:11,880 --> 00:17:15,240 Speaker 1: Don't be that person. Be proactive, go above and beyond. 376 00:17:15,280 --> 00:17:17,120 Speaker 1: And that's what I mean when I say. 377 00:17:16,960 --> 00:17:19,280 Speaker 2: That that makes complete sense fee. So it's all about 378 00:17:19,320 --> 00:17:21,600 Speaker 2: providing as much value as you can instead of just 379 00:17:21,640 --> 00:17:23,720 Speaker 2: slogging it out and working twelve hours and thinking that 380 00:17:23,720 --> 00:17:25,280 Speaker 2: that's the way to getting where you want to go. 381 00:17:25,480 --> 00:17:27,640 Speaker 1: Absolutely yes, So what if. 382 00:17:27,520 --> 00:17:30,920 Speaker 2: You're in an industry under an enterprise bargaining agreement where 383 00:17:30,960 --> 00:17:33,600 Speaker 2: you can't earn any more money than you're currently making. 384 00:17:33,880 --> 00:17:36,439 Speaker 1: Yeah, Sometimes that happens where you're in a job and 385 00:17:36,440 --> 00:17:40,159 Speaker 1: it has salary bands for that specific role, and you know, 386 00:17:40,320 --> 00:17:42,320 Speaker 1: for an example, you do see that a lot in 387 00:17:42,440 --> 00:17:45,840 Speaker 1: an accounting practice where accountant has a certain band and 388 00:17:45,840 --> 00:17:48,640 Speaker 1: then the intermediate accountant has another, and the senior accountant 389 00:17:48,640 --> 00:17:52,320 Speaker 1: has another, and I feel like that's quite hard. Sometimes 390 00:17:52,359 --> 00:17:55,359 Speaker 1: it gives you a really good, clear career pathway because 391 00:17:55,400 --> 00:17:57,639 Speaker 1: you can see, all right, I've reached the cap of this, 392 00:17:57,720 --> 00:17:59,760 Speaker 1: my next step is into this role, and there's a 393 00:17:59,760 --> 00:18:02,440 Speaker 1: really clear outline of what that looks like. But then 394 00:18:02,520 --> 00:18:05,600 Speaker 1: sometimes you're in a job and you've absolutely killed it 395 00:18:05,640 --> 00:18:07,040 Speaker 1: and you've aised it and you're at the top of 396 00:18:07,040 --> 00:18:09,600 Speaker 1: your game, but there isn't anywhere to go above that, 397 00:18:10,160 --> 00:18:12,960 Speaker 1: And to me, that's a very frustrating position. Or I 398 00:18:12,960 --> 00:18:15,280 Speaker 1: can imagine it to be a very frustrating position for 399 00:18:15,359 --> 00:18:18,679 Speaker 1: someone to be in because you feel capped out. And 400 00:18:18,720 --> 00:18:20,639 Speaker 1: that to me is not the glass ceiling. It's not 401 00:18:20,720 --> 00:18:23,480 Speaker 1: being held back. It's actually just that you've reached the 402 00:18:23,520 --> 00:18:25,719 Speaker 1: top in that role and you really need to consider 403 00:18:25,760 --> 00:18:28,000 Speaker 1: where you're going. Like you might love your job and 404 00:18:28,040 --> 00:18:30,119 Speaker 1: not need a salary increase, and you go, well, this 405 00:18:30,200 --> 00:18:32,080 Speaker 1: is my job and that's probably there. I'm at the 406 00:18:32,080 --> 00:18:33,720 Speaker 1: top of my game. I'm earning as much as I 407 00:18:33,760 --> 00:18:36,920 Speaker 1: possibly can. But if that is something that is worrying 408 00:18:36,960 --> 00:18:39,440 Speaker 1: you and you do feel like you want a salary increase, 409 00:18:39,680 --> 00:18:42,200 Speaker 1: I think it's then your turn to think about, well, 410 00:18:42,240 --> 00:18:44,919 Speaker 1: how do I reskill how do I take these skills 411 00:18:44,920 --> 00:18:47,760 Speaker 1: and transfer them to a different career pathway that I 412 00:18:47,800 --> 00:18:50,640 Speaker 1: could potentially, you know, move all of these things into 413 00:18:50,840 --> 00:18:53,719 Speaker 1: and earn more money. It's really down to your values 414 00:18:53,760 --> 00:18:56,679 Speaker 1: and what is a value to you. But I don't 415 00:18:56,720 --> 00:18:58,840 Speaker 1: want people to think that if they've reached the top 416 00:18:58,880 --> 00:19:01,640 Speaker 1: of their game that people are valuing them less because 417 00:19:01,680 --> 00:19:03,640 Speaker 1: they are, you know, at the top of the band 418 00:19:03,720 --> 00:19:06,240 Speaker 1: and you know they're restricted in salary. I think you 419 00:19:06,280 --> 00:19:08,880 Speaker 1: really need to see it as well. Those are the limitations. 420 00:19:09,200 --> 00:19:12,760 Speaker 1: What things can I do outside of salary that I 421 00:19:12,840 --> 00:19:16,119 Speaker 1: could negotiate that'll become a part of my role, Like 422 00:19:16,160 --> 00:19:19,880 Speaker 1: could you negotiate more flexible working hours, could you negotiate 423 00:19:19,960 --> 00:19:24,119 Speaker 1: work from home days, Could you negotiate different leave entitlements 424 00:19:24,240 --> 00:19:26,679 Speaker 1: or you know, benefits that you have at work that 425 00:19:26,840 --> 00:19:29,119 Speaker 1: play into that that you can go above and beyond 426 00:19:29,160 --> 00:19:31,639 Speaker 1: with there. So I don't think it caps you forever, 427 00:19:32,040 --> 00:19:33,760 Speaker 1: and I don't think it's a negative thing to be 428 00:19:33,840 --> 00:19:35,840 Speaker 1: in a role like that, but it is worthy of 429 00:19:35,920 --> 00:19:38,239 Speaker 1: mentioning and I'm glad you brought it up because an 430 00:19:38,240 --> 00:19:41,400 Speaker 1: EBA can feel a little bit restrictive. And that's where 431 00:19:41,440 --> 00:19:43,680 Speaker 1: if you're doing your research into a new career or 432 00:19:43,720 --> 00:19:47,800 Speaker 1: a new job, really understand those brackets and understand those metrics, 433 00:19:48,119 --> 00:19:50,600 Speaker 1: because it would be really disappointing getting into a role 434 00:19:50,640 --> 00:19:52,320 Speaker 1: being like I'm going to smash this out and I'm 435 00:19:52,320 --> 00:19:55,399 Speaker 1: going to have a salary increase year on year. Don't 436 00:19:55,440 --> 00:19:58,840 Speaker 1: expect anything. Understand everything. And that's what I mean when 437 00:19:58,840 --> 00:20:00,840 Speaker 1: I say go do your research. Understand the role you're 438 00:20:00,880 --> 00:20:03,679 Speaker 1: going into, Understand where you can go and what you 439 00:20:03,720 --> 00:20:05,520 Speaker 1: can actually do in the future as well. 440 00:20:05,920 --> 00:20:08,159 Speaker 2: So V we've done our research. We've been working as 441 00:20:08,240 --> 00:20:10,359 Speaker 2: hard as we can. We know what we're worth now. 442 00:20:10,760 --> 00:20:12,960 Speaker 2: But we tee up our meeting with our boss and 443 00:20:13,240 --> 00:20:15,800 Speaker 2: they say no to our requests for a payers what do. 444 00:20:15,760 --> 00:20:17,520 Speaker 1: We do at the end of the day. If you 445 00:20:17,560 --> 00:20:20,560 Speaker 1: don't get the salary increase that you want this time around, 446 00:20:21,119 --> 00:20:25,000 Speaker 1: it's this time around, so it's not no forever. And 447 00:20:25,040 --> 00:20:27,320 Speaker 1: I think if your boss is in a position where 448 00:20:27,320 --> 00:20:30,080 Speaker 1: they say no never, this isn't going to happen. I 449 00:20:30,080 --> 00:20:33,160 Speaker 1: think you really do need to consider what your options 450 00:20:33,200 --> 00:20:35,400 Speaker 1: look like. But going to your boss is a really 451 00:20:35,440 --> 00:20:38,920 Speaker 1: big thing. Presenting a new proposal for a salary is massive, 452 00:20:38,960 --> 00:20:41,000 Speaker 1: and I think you should be really proud of yourself 453 00:20:41,000 --> 00:20:44,320 Speaker 1: for taking that step and having that conversation. Like learning 454 00:20:44,359 --> 00:20:47,760 Speaker 1: how to negotiate is a really, really wonderful skill to have. 455 00:20:48,200 --> 00:20:51,160 Speaker 1: Even if you don't get the salary increase this time around, 456 00:20:51,400 --> 00:20:54,439 Speaker 1: If you've presented an amazing proposal and an argument for 457 00:20:54,520 --> 00:20:56,560 Speaker 1: why you should be getting a raise, you're going to 458 00:20:56,640 --> 00:20:59,360 Speaker 1: be top of mind when the next conversation about salary 459 00:20:59,400 --> 00:21:02,320 Speaker 1: comes around. And just be patient if you feel as 460 00:21:02,320 --> 00:21:04,960 Speaker 1: though you're being told no over and over again, though, 461 00:21:05,480 --> 00:21:08,199 Speaker 1: keep an eye out for other companies that actually value 462 00:21:08,240 --> 00:21:11,360 Speaker 1: you and that do offer the things that you're asking for. 463 00:21:11,520 --> 00:21:13,880 Speaker 1: Like if you sat down and said, well, actually, now 464 00:21:13,920 --> 00:21:16,200 Speaker 1: I've done on my research and I'm worth so much more, 465 00:21:16,280 --> 00:21:17,000 Speaker 1: don't settle. 466 00:21:17,240 --> 00:21:19,040 Speaker 2: What about if you do get a pay rise but 467 00:21:19,080 --> 00:21:21,920 Speaker 2: it's not quite the amount you're expecting. So you went 468 00:21:21,960 --> 00:21:24,040 Speaker 2: in in the hopes of a ten or fifteen grand 469 00:21:24,080 --> 00:21:26,040 Speaker 2: pay rise and you're on the given five grand. Do 470 00:21:26,080 --> 00:21:28,160 Speaker 2: you just kind of take that and run with it 471 00:21:28,280 --> 00:21:29,399 Speaker 2: or should you challenge it? 472 00:21:29,640 --> 00:21:31,480 Speaker 1: I think you should challenge it and be like, thank 473 00:21:31,520 --> 00:21:34,040 Speaker 1: you so much for considering this pay rise, but that 474 00:21:34,160 --> 00:21:37,359 Speaker 1: wasn't actually in line with my expectations. Explain why you 475 00:21:37,400 --> 00:21:40,040 Speaker 1: think that you were deserving of more, or go okay, 476 00:21:40,080 --> 00:21:42,119 Speaker 1: no problems, thank you so much. I'm assuming that this 477 00:21:42,200 --> 00:21:44,920 Speaker 1: means we can review again in another three months and 478 00:21:44,960 --> 00:21:47,320 Speaker 1: maybe put on the table some KPIs for them to 479 00:21:47,400 --> 00:21:49,960 Speaker 1: keep an eye on, so that all right, well, no problems, 480 00:21:49,960 --> 00:21:52,320 Speaker 1: But what do I need to achieve to have my 481 00:21:52,400 --> 00:21:56,240 Speaker 1: salary reviewed again? Ask for some specific mark, guys, some 482 00:21:56,400 --> 00:21:58,960 Speaker 1: queer guidance of saying, well, okay, no problems if I 483 00:21:58,960 --> 00:22:01,480 Speaker 1: achieve this amount in sales, or if I finished this 484 00:22:01,560 --> 00:22:04,760 Speaker 1: amount of work. Can we please renegotiate this again to 485 00:22:04,840 --> 00:22:07,720 Speaker 1: this level so that they're expecting you to come back 486 00:22:07,760 --> 00:22:10,280 Speaker 1: for what you think you deserve. But sometimes it does 487 00:22:10,359 --> 00:22:13,640 Speaker 1: take employers a couple of steps because it is really big. 488 00:22:13,680 --> 00:22:15,879 Speaker 1: If you are asking for something like a fifteen thousand 489 00:22:15,920 --> 00:22:18,760 Speaker 1: dollars pay rise, yeah that's not small. A business does 490 00:22:18,840 --> 00:22:20,119 Speaker 1: have to pay for it. But at the end of 491 00:22:20,160 --> 00:22:22,400 Speaker 1: the day, if you, as an employee are worth that, 492 00:22:22,400 --> 00:22:24,560 Speaker 1: they'll be happy with that. Yes, but maybe they'll want 493 00:22:24,560 --> 00:22:25,160 Speaker 1: to stage it. 494 00:22:25,320 --> 00:22:27,879 Speaker 2: Lastly, I guess for those listeners who are feeling a 495 00:22:27,920 --> 00:22:31,280 Speaker 2: little bit queasy or intimidated by actually making the time 496 00:22:31,280 --> 00:22:34,399 Speaker 2: to have this conversation with their boss, what words of 497 00:22:34,440 --> 00:22:35,600 Speaker 2: wisdom would you offer them? 498 00:22:35,720 --> 00:22:38,600 Speaker 1: The worst thing that they can say is no yes, 499 00:22:38,600 --> 00:22:42,480 Speaker 1: And there's absolutely no harm in asking. So I think 500 00:22:42,520 --> 00:22:45,040 Speaker 1: it's very valid for you to approach your boss after 501 00:22:45,119 --> 00:22:47,879 Speaker 1: you have done all your research and you understand the market, 502 00:22:48,040 --> 00:22:50,400 Speaker 1: you understand the scope of your role, and say, hey, 503 00:22:50,400 --> 00:22:53,240 Speaker 1: i'd like this to be renegotiated. I think you should 504 00:22:53,240 --> 00:22:55,240 Speaker 1: be approaching it in a very gentle way as well. 505 00:22:55,440 --> 00:22:57,600 Speaker 1: Don't go in and be like, I've done my research, 506 00:22:57,800 --> 00:23:00,880 Speaker 1: I'm so deserving of this. At the end of the day, 507 00:23:00,920 --> 00:23:02,840 Speaker 1: the worst thing that they can say is no, and 508 00:23:02,920 --> 00:23:11,080 Speaker 1: don't settle for a place that doesn't see your value. 509 00:23:12,119 --> 00:23:12,280 Speaker 5: Hi. 510 00:23:12,400 --> 00:23:14,879 Speaker 2: There, you've reached the Shoes on the Money mailbox. Do 511 00:23:14,960 --> 00:23:17,119 Speaker 2: you have a money problem you want help solving. Do 512 00:23:17,160 --> 00:23:19,639 Speaker 2: you have a money dilemma you just want to chat about. 513 00:23:19,920 --> 00:23:22,520 Speaker 2: Victoria is here to help. Every week, we'll be playing 514 00:23:22,560 --> 00:23:24,720 Speaker 2: your questions to help make sense of a money mess 515 00:23:24,760 --> 00:23:27,320 Speaker 2: you may have found yourself in. Make a quick recording 516 00:23:27,359 --> 00:23:29,600 Speaker 2: on your phone and send it through to podcast at 517 00:23:29,600 --> 00:23:32,879 Speaker 2: Shoesodthemoney dot com DOTU and you might find yourself on 518 00:23:32,920 --> 00:23:35,400 Speaker 2: the show. But for now, here's this week's listener question. 519 00:23:36,040 --> 00:23:39,240 Speaker 4: Hey, guys, absolutely love the podcast. I was just wondering 520 00:23:39,240 --> 00:23:41,800 Speaker 4: if you could answer a question for me. I'm currently 521 00:23:41,880 --> 00:23:44,639 Speaker 4: being paid sixty thousand dollars per annum, but the new 522 00:23:44,720 --> 00:23:47,719 Speaker 4: roles that I'm applying for are around eighty thousand, and 523 00:23:47,800 --> 00:23:49,879 Speaker 4: I know that I've definitely got the experience and the 524 00:23:49,920 --> 00:23:53,439 Speaker 4: ability for the highest salary, but the recruiters are asking 525 00:23:53,480 --> 00:23:56,880 Speaker 4: me what I'm currently being paid, So I'm just wondering 526 00:23:57,040 --> 00:23:59,320 Speaker 4: do you think that I have to tell them I'm 527 00:23:59,359 --> 00:24:01,720 Speaker 4: not really comfortab letting them know, because obviously that's not 528 00:24:01,760 --> 00:24:05,000 Speaker 4: my expectation moving forward. But I'm just wondering, if you 529 00:24:05,040 --> 00:24:06,840 Speaker 4: think whether I have to let them know, and if 530 00:24:06,840 --> 00:24:09,360 Speaker 4: I don't, how do I go about that? Thank you? 531 00:24:10,200 --> 00:24:12,320 Speaker 2: It's a weird one, fear. I don't know how i'd 532 00:24:12,359 --> 00:24:14,640 Speaker 2: tackle that. Too many advice or I did. 533 00:24:14,800 --> 00:24:18,200 Speaker 1: I think that's such a hard one because when recruiters 534 00:24:18,320 --> 00:24:21,159 Speaker 1: are doing their job, they're just trying to understand the 535 00:24:21,200 --> 00:24:24,400 Speaker 1: scope of your role, and a really good indicator of 536 00:24:24,480 --> 00:24:27,520 Speaker 1: your performance is your salary. Yes, and back to my 537 00:24:27,560 --> 00:24:31,200 Speaker 1: accounting example, there are different bands that people get paid 538 00:24:31,240 --> 00:24:34,440 Speaker 1: in this industry, and if you fit within a band, 539 00:24:34,600 --> 00:24:37,000 Speaker 1: it can be assumed a certain capability. But if you 540 00:24:37,040 --> 00:24:39,600 Speaker 1: believe you've been undervalued and you're now going for roles 541 00:24:39,600 --> 00:24:42,280 Speaker 1: that are above and beyond what you were being paid, 542 00:24:42,760 --> 00:24:45,200 Speaker 1: I do think it's in your best interest to hold 543 00:24:45,240 --> 00:24:49,040 Speaker 1: that information pretty close. And when someone says to you, hey, 544 00:24:49,080 --> 00:24:53,680 Speaker 1: g what salary are you currently on, instead of going oh, 545 00:24:53,720 --> 00:24:56,680 Speaker 1: this much money, go back and say, well, actually, I 546 00:24:56,760 --> 00:25:00,199 Speaker 1: was wondering about salary, what's this role? Worse right, and 547 00:25:00,280 --> 00:25:03,240 Speaker 1: trying to understand the scope of that role because your 548 00:25:03,320 --> 00:25:07,399 Speaker 1: remuneration is not directly related to the next role. It 549 00:25:07,480 --> 00:25:10,080 Speaker 1: so your skill set, it's your capability and your competency 550 00:25:10,119 --> 00:25:12,879 Speaker 1: to do the role. And I don't think our listener 551 00:25:12,960 --> 00:25:17,080 Speaker 1: question is absolutely out of line because your current compensation 552 00:25:17,240 --> 00:25:20,360 Speaker 1: for recruiters and for a future employers often acts as 553 00:25:20,359 --> 00:25:23,879 Speaker 1: a really strong anchor when they're trying to make decisions. 554 00:25:24,080 --> 00:25:26,320 Speaker 1: So often they'll go, oh, well, she was on sixty 555 00:25:26,840 --> 00:25:30,280 Speaker 1: so that's her expectation. Maybe she's expecting that, or we 556 00:25:30,359 --> 00:25:33,040 Speaker 1: could comfortably offer her sixty five. That's more than what 557 00:25:33,119 --> 00:25:35,000 Speaker 1: she was on before. She'll be happy with that. She'll 558 00:25:35,000 --> 00:25:37,320 Speaker 1: be happy with that, and they make decisions for you 559 00:25:37,359 --> 00:25:40,080 Speaker 1: instead of saying, well, actually, my expectation for this role 560 00:25:40,200 --> 00:25:43,920 Speaker 1: is eighty thousand dollars. When they say, hey, g what's 561 00:25:43,960 --> 00:25:46,840 Speaker 1: your current salary, maybe go back straight away with well, 562 00:25:46,880 --> 00:25:49,760 Speaker 1: actually my expectation for this role would be this. Yes, 563 00:25:50,080 --> 00:25:53,720 Speaker 1: it's not essential that you disclose your salary when discussing 564 00:25:53,760 --> 00:25:57,160 Speaker 1: things with recruiters, but I can absolutely understand why she's 565 00:25:57,359 --> 00:26:02,320 Speaker 1: justifiably reluctant to disclose that number because it sounds like 566 00:26:02,400 --> 00:26:05,439 Speaker 1: her salary is much lower than the role that she 567 00:26:05,600 --> 00:26:06,919 Speaker 1: was actually completing. 568 00:26:07,119 --> 00:26:09,480 Speaker 2: So be you can turn it straight back onto the 569 00:26:09,480 --> 00:26:12,879 Speaker 2: employer or the recruiter and say, my expectation for this 570 00:26:13,000 --> 00:26:16,680 Speaker 2: role is this dollar amount, rather than disclosing yeah, yeah. 571 00:26:16,480 --> 00:26:19,800 Speaker 1: Absolutely, And if you feel pressured to continue that and 572 00:26:19,840 --> 00:26:21,920 Speaker 1: you know you've been trying to dodge the question by 573 00:26:21,960 --> 00:26:24,200 Speaker 1: being like, all right, well, what's this role worth and 574 00:26:24,240 --> 00:26:27,600 Speaker 1: having that conversation, there is so so so much power 575 00:26:27,920 --> 00:26:30,280 Speaker 1: in just saying no, like no, I don't particularly want 576 00:26:30,320 --> 00:26:32,880 Speaker 1: to disclose that I don't believe that it is helpful 577 00:26:33,080 --> 00:26:35,119 Speaker 1: in us finding a new role. At the end of 578 00:26:35,160 --> 00:26:37,679 Speaker 1: the day, headhunters and recruiters make a lot of money 579 00:26:37,680 --> 00:26:40,680 Speaker 1: based on putting you into the right role, and you're 580 00:26:40,840 --> 00:26:43,520 Speaker 1: helping them in a way put you into the right 581 00:26:43,600 --> 00:26:47,399 Speaker 1: role by them understanding your expectations. The right role for 582 00:26:47,480 --> 00:26:49,480 Speaker 1: you isn't the one where people are just going to 583 00:26:49,520 --> 00:26:51,919 Speaker 1: pay you. It's one where you feel valued and you 584 00:26:51,960 --> 00:26:55,200 Speaker 1: feel as though they respect you, and a recruiter should 585 00:26:55,240 --> 00:26:57,000 Speaker 1: see that. At the end of the day, they get 586 00:26:57,040 --> 00:27:01,080 Speaker 1: paid more based on how much you are earning as well, 587 00:27:01,240 --> 00:27:03,720 Speaker 1: so it's in their best interest to get you the 588 00:27:03,720 --> 00:27:07,119 Speaker 1: best possible salary package. But there's so much power in 589 00:27:07,160 --> 00:27:09,840 Speaker 1: saying no. Saying no to employers that you don't feel 590 00:27:09,880 --> 00:27:12,240 Speaker 1: like are treating your right saying no to salary packages 591 00:27:12,280 --> 00:27:14,240 Speaker 1: that aren't the right fit for you, and saying no 592 00:27:14,359 --> 00:27:16,840 Speaker 1: to people who are asking questions that you don't want 593 00:27:16,840 --> 00:27:18,800 Speaker 1: to answer. So at the end of the day, I've 594 00:27:18,800 --> 00:27:20,800 Speaker 1: said it a million times, but know you're worth and 595 00:27:20,840 --> 00:27:21,639 Speaker 1: then add tax. 596 00:27:24,880 --> 00:27:27,200 Speaker 2: It's time for money diary. Let's get into it. 597 00:27:27,320 --> 00:27:30,200 Speaker 3: My relationship with money is getting better. For a long time, 598 00:27:30,400 --> 00:27:32,240 Speaker 3: wasn't that great. Most of the time it was paycheck 599 00:27:32,280 --> 00:27:35,040 Speaker 3: to paycheck and trying to just make sure that everything 600 00:27:35,080 --> 00:27:37,480 Speaker 3: was covered. My partner and I are getting married and 601 00:27:37,480 --> 00:27:40,800 Speaker 3: halfway through this year, which is really exciting, so organizing 602 00:27:40,800 --> 00:27:44,679 Speaker 3: a wedding and finding some overseas trips a honeymoon, so 603 00:27:45,000 --> 00:27:46,800 Speaker 3: that's sort of the big plans at the moment, and 604 00:27:46,840 --> 00:27:49,200 Speaker 3: potentially buying a house, but that's further down. 605 00:27:49,320 --> 00:27:51,720 Speaker 2: Today's money diary is from twenty eight and getting better. 606 00:27:51,880 --> 00:27:54,280 Speaker 2: Who recently made the big decision to leave a job 607 00:27:54,359 --> 00:27:56,520 Speaker 2: she loved but that wasn't paying her appropriately. 608 00:27:56,680 --> 00:27:58,639 Speaker 3: So I've been teaching for about six years. This is 609 00:27:58,680 --> 00:28:00,879 Speaker 3: my sixty year and so I've had quite a bit 610 00:28:00,920 --> 00:28:03,520 Speaker 3: of differences during that time. I love the students and 611 00:28:03,560 --> 00:28:05,880 Speaker 3: I really love the people I worked with, But yeah, 612 00:28:05,920 --> 00:28:08,200 Speaker 3: the pay was a big factor. So while I was 613 00:28:08,240 --> 00:28:10,960 Speaker 3: working as a casual worker, I would get paid for 614 00:28:11,200 --> 00:28:14,000 Speaker 3: the hours I taught, and then for every hour taught, 615 00:28:14,040 --> 00:28:16,159 Speaker 3: i'd get half an hour planning time. So if I 616 00:28:16,200 --> 00:28:18,280 Speaker 3: taught for two hours, i'd have essentially i'd be paid 617 00:28:18,280 --> 00:28:21,480 Speaker 3: for three hours, which was in theory great, but that 618 00:28:21,560 --> 00:28:24,359 Speaker 3: hour was basically me uploading all of the resources to 619 00:28:24,400 --> 00:28:28,280 Speaker 3: an online portal, checking the role, emailing students. That didn't 620 00:28:28,320 --> 00:28:31,280 Speaker 3: cover any planning, didn't cover any marketing, and because it 621 00:28:31,280 --> 00:28:34,040 Speaker 3: was a VC program, there's a lot. 622 00:28:33,840 --> 00:28:35,240 Speaker 5: Of additional work. 623 00:28:35,480 --> 00:28:38,720 Speaker 3: I remember working it out once that I would be 624 00:28:38,760 --> 00:28:41,440 Speaker 3: paid for twenty five hours a week, and on average 625 00:28:41,480 --> 00:28:44,360 Speaker 3: I was working sixty hours a week, so it just 626 00:28:44,440 --> 00:28:47,160 Speaker 3: didn't match. My partner and I at the time, we 627 00:28:47,160 --> 00:28:51,200 Speaker 3: were just talking about actually sitting down and talking about marriage, 628 00:28:51,240 --> 00:28:54,040 Speaker 3: and by about maybe getting a house and looking at 629 00:28:54,040 --> 00:28:56,480 Speaker 3: it and going there's no way we're going to ever own, 630 00:28:56,720 --> 00:28:58,840 Speaker 3: We're never going to be able to travel again. We're 631 00:28:58,880 --> 00:29:00,680 Speaker 3: not in a position where we can actually have the 632 00:29:00,720 --> 00:29:03,400 Speaker 3: life that we deserve or that we have set. 633 00:29:03,200 --> 00:29:04,040 Speaker 5: Out for ourselves. 634 00:29:04,200 --> 00:29:07,320 Speaker 3: Moving schools and moving to a different environment was definitely 635 00:29:07,320 --> 00:29:10,320 Speaker 3: the best decision, both financially and mentally. Definitely needed that 636 00:29:10,520 --> 00:29:12,600 Speaker 3: change and far less stress. 637 00:29:12,680 --> 00:29:12,920 Speaker 5: Now. 638 00:29:13,160 --> 00:29:15,520 Speaker 2: Okay, so now we know what she does, Let's get 639 00:29:15,520 --> 00:29:17,840 Speaker 2: into the juicy stuff. How much does she earn and 640 00:29:17,880 --> 00:29:20,080 Speaker 2: how much is sitting in her bank account right now? 641 00:29:20,280 --> 00:29:23,280 Speaker 3: So in my previous job, I was earning about forty 642 00:29:23,360 --> 00:29:26,560 Speaker 3: eight thousand dollars a year. Now I'm earning about sixty thousand, 643 00:29:26,560 --> 00:29:29,520 Speaker 3: but I know that will increase by halfway. 644 00:29:29,160 --> 00:29:30,640 Speaker 5: Through the year bank accounts. 645 00:29:30,840 --> 00:29:33,840 Speaker 3: At the moment, I've got about five grand in my 646 00:29:34,440 --> 00:29:35,680 Speaker 3: high interest savings. 647 00:29:35,760 --> 00:29:38,800 Speaker 2: And what exactly happens to that money after it's deposited 648 00:29:38,880 --> 00:29:39,720 Speaker 2: into her account? 649 00:29:40,080 --> 00:29:42,840 Speaker 3: So it goes straight into my account, and then the 650 00:29:42,880 --> 00:29:45,959 Speaker 3: next day an amount goes so eight hundred dollars goes 651 00:29:45,960 --> 00:29:48,720 Speaker 3: into the billing account. I get paid fortnightly, so that 652 00:29:49,120 --> 00:29:51,400 Speaker 3: covers our rent, which is about two thousand a month, 653 00:29:51,520 --> 00:29:53,880 Speaker 3: and then our phone bells and all of that. So 654 00:29:54,000 --> 00:29:56,160 Speaker 3: eight hundred and fortnite goes straight in that way, it's 655 00:29:56,160 --> 00:30:00,920 Speaker 3: always covered. Six hundred goes into my save and that 656 00:30:01,000 --> 00:30:02,880 Speaker 3: I end up with about four hundred and fifty dollars. 657 00:30:02,960 --> 00:30:05,800 Speaker 2: Okay, then, so how does twenty eight and getting better 658 00:30:05,920 --> 00:30:09,440 Speaker 2: feel about investing. Does she invest and if so, how so? 659 00:30:09,560 --> 00:30:11,560 Speaker 5: I've always had the goal to invest. 660 00:30:11,760 --> 00:30:14,360 Speaker 3: I do have a raise account, and so there's sort 661 00:30:14,360 --> 00:30:18,280 Speaker 3: of that micro investing. Somehow, it's not working particularly well 662 00:30:18,320 --> 00:30:20,840 Speaker 3: for me. I think I've set up something wrong, so 663 00:30:21,000 --> 00:30:23,320 Speaker 3: that's something I need to fix. My partner also does 664 00:30:23,520 --> 00:30:25,840 Speaker 3: invest through rays, and he's doing far better than I am, 665 00:30:25,880 --> 00:30:27,800 Speaker 3: which is fine. It means that we always we have 666 00:30:27,880 --> 00:30:30,120 Speaker 3: some money being invested. I think the goal though, is 667 00:30:30,160 --> 00:30:31,800 Speaker 3: we want to get rid of the credit card completely, 668 00:30:31,920 --> 00:30:34,080 Speaker 3: and then we will actually sit down and we'll go 669 00:30:34,120 --> 00:30:36,120 Speaker 3: and see a broker and make the decision too of 670 00:30:36,160 --> 00:30:38,640 Speaker 3: where and what and how much and all of that. 671 00:30:38,680 --> 00:30:41,000 Speaker 3: But until that debt is gone, we don't want to 672 00:30:41,000 --> 00:30:43,080 Speaker 3: stretch our money more than it is at the moment. 673 00:30:43,200 --> 00:30:45,240 Speaker 3: Even though I know that it will bring us more money, 674 00:30:45,440 --> 00:30:47,120 Speaker 3: it will just give me more anxiety than I would 675 00:30:47,120 --> 00:30:48,120 Speaker 3: like to deal with right now. 676 00:30:48,200 --> 00:30:51,120 Speaker 2: What about debts like credit cards or personal loans? 677 00:30:51,480 --> 00:30:54,280 Speaker 3: I technically have only got one big debt, which is 678 00:30:54,360 --> 00:30:56,600 Speaker 3: my hex debt, so it's about thirty one thousand dollars. 679 00:30:56,800 --> 00:30:58,720 Speaker 3: My partner has a seven thousand dollars debt with a 680 00:30:58,720 --> 00:31:00,360 Speaker 3: credit card, whilst technically it's his. 681 00:31:00,760 --> 00:31:02,960 Speaker 5: We're getting married. My money is his money. His money 682 00:31:03,040 --> 00:31:05,400 Speaker 5: is my money. Our goal is to have that eradicated 683 00:31:05,440 --> 00:31:06,640 Speaker 5: by our wedding. 684 00:31:06,400 --> 00:31:08,720 Speaker 2: Does twenty eight and getting better. Have any good money 685 00:31:08,720 --> 00:31:10,080 Speaker 2: habits that she's especially powder. 686 00:31:10,240 --> 00:31:12,640 Speaker 3: I always go for sales or opshop fines when it 687 00:31:12,640 --> 00:31:13,320 Speaker 3: comes to clothes. 688 00:31:13,560 --> 00:31:15,720 Speaker 5: Not really a big man on buying brand new. 689 00:31:16,000 --> 00:31:17,480 Speaker 3: I mean I even bought my wedding dress on a 690 00:31:17,560 --> 00:31:19,440 Speaker 3: huge sale and it was a little bit damaged, and 691 00:31:19,480 --> 00:31:20,880 Speaker 3: I thought, you know what a little bit damage. 692 00:31:20,920 --> 00:31:21,479 Speaker 5: I can fix that. 693 00:31:21,640 --> 00:31:23,600 Speaker 2: And what about her worst money habit? 694 00:31:23,840 --> 00:31:27,960 Speaker 3: Probably if I'm catching up with friends for drinks, I 695 00:31:27,960 --> 00:31:30,160 Speaker 3: ignore a budget I may have set myself for that 696 00:31:30,280 --> 00:31:31,920 Speaker 3: night and kind of go overboard. 697 00:31:32,040 --> 00:31:34,959 Speaker 2: So what's today's money diarist? Actually saving for? What's her 698 00:31:34,960 --> 00:31:35,720 Speaker 2: big money goal? 699 00:31:36,000 --> 00:31:38,440 Speaker 5: So we've kind of got multiple big money goals or. 700 00:31:38,560 --> 00:31:41,440 Speaker 3: Running her currently at the moment, it's our wedding, our 701 00:31:41,440 --> 00:31:45,320 Speaker 3: friend's wedding in Germany, and our honeymoon, so those sort 702 00:31:45,320 --> 00:31:49,200 Speaker 3: of this year alone big money goals. But we do 703 00:31:49,240 --> 00:31:50,640 Speaker 3: want to buy a house in the next two or 704 00:31:50,680 --> 00:31:51,520 Speaker 3: three years. 705 00:31:51,280 --> 00:31:53,720 Speaker 2: So how about twenty eight and getting there rate herself? 706 00:31:53,760 --> 00:31:55,360 Speaker 2: If we forced her to give herself a. 707 00:31:55,320 --> 00:31:58,120 Speaker 3: Great I would rate myself probably at a B plus, 708 00:31:58,560 --> 00:32:01,760 Speaker 3: mostly because of ignoring the credit card for as long 709 00:32:01,800 --> 00:32:03,960 Speaker 3: as I have, even though it's not technically mine, so 710 00:32:04,000 --> 00:32:05,600 Speaker 3: it's out of sight, out of mind for me, and 711 00:32:05,640 --> 00:32:08,280 Speaker 3: it has been for a long time, and also taking 712 00:32:08,280 --> 00:32:10,680 Speaker 3: as long as I have to make a good or 713 00:32:10,680 --> 00:32:14,200 Speaker 3: set of financial decisions. So if the credit card wasn't there, 714 00:32:14,400 --> 00:32:15,800 Speaker 3: I would break myself an. 715 00:32:15,680 --> 00:32:19,920 Speaker 2: Eight twenty eight and getting better. Victoria, it was very 716 00:32:19,920 --> 00:32:21,200 Speaker 2: interesting one. 717 00:32:21,440 --> 00:32:23,239 Speaker 1: I loved it. I thought it was really good. It 718 00:32:23,280 --> 00:32:26,080 Speaker 1: wasn't your typical money diary where you know they've saved 719 00:32:26,160 --> 00:32:29,040 Speaker 1: up and tieved all their dreams already. But I feel 720 00:32:29,120 --> 00:32:31,560 Speaker 1: like this was such a good story to share. And 721 00:32:31,640 --> 00:32:34,840 Speaker 1: when we sat down with her, it really was obvious 722 00:32:34,920 --> 00:32:36,480 Speaker 1: that she knew her worth and what. 723 00:32:36,440 --> 00:32:37,200 Speaker 5: She was doing. 724 00:32:37,400 --> 00:32:40,360 Speaker 1: Yeah, And I think, to me, that's really important, especially 725 00:32:40,720 --> 00:32:42,440 Speaker 1: she had all these goals. She was saying that she's 726 00:32:42,480 --> 00:32:44,960 Speaker 1: wanting to get married, or she is getting married really soon, 727 00:32:45,160 --> 00:32:47,600 Speaker 1: she wants to go overseas for a friend's wedding. She's 728 00:32:47,600 --> 00:32:49,840 Speaker 1: got all of these other goals, and she just knew 729 00:32:49,880 --> 00:32:51,880 Speaker 1: that that job wasn't going to give it to her. 730 00:32:52,000 --> 00:32:54,640 Speaker 1: She had a heap of loyalty to her previous employer 731 00:32:54,640 --> 00:32:56,840 Speaker 1: because it was her first employer. And I think it's 732 00:32:56,880 --> 00:33:00,040 Speaker 1: really important to actually highlight that, you know, sometimes and 733 00:33:00,160 --> 00:33:01,840 Speaker 1: you do ask for a pay rise, it doesn't mean 734 00:33:01,840 --> 00:33:03,640 Speaker 1: you're going to get it, yeah, but it means that 735 00:33:03,720 --> 00:33:06,240 Speaker 1: you are committed to understanding your value and what you 736 00:33:06,320 --> 00:33:08,760 Speaker 1: bring to the table. And sometimes the best thing to 737 00:33:08,800 --> 00:33:11,640 Speaker 1: do is to actually walk away. Yeah, and that's really 738 00:33:11,640 --> 00:33:12,800 Speaker 1: hard to hear for some people. 739 00:33:13,040 --> 00:33:14,720 Speaker 2: Well didn't you say as well, she was meant to 740 00:33:14,720 --> 00:33:17,080 Speaker 2: be working twenty five hours or so, but was dedicating 741 00:33:17,160 --> 00:33:19,240 Speaker 2: sixty hours a week to that and getting paid just 742 00:33:19,240 --> 00:33:21,480 Speaker 2: for the twenty five that's outrageous. 743 00:33:21,520 --> 00:33:23,440 Speaker 1: It was a lot. And I think that that story 744 00:33:23,520 --> 00:33:25,400 Speaker 1: is actually going to resonate with a lot of people 745 00:33:25,440 --> 00:33:28,560 Speaker 1: who are listening, especially in that field, because I think 746 00:33:28,600 --> 00:33:32,840 Speaker 1: that teachers and nurses and these service industries are actually 747 00:33:32,880 --> 00:33:36,680 Speaker 1: really undervalued. So more often than not, we see them 748 00:33:36,720 --> 00:33:39,240 Speaker 1: as people who don't work in that industry and go, oh, 749 00:33:39,320 --> 00:33:41,600 Speaker 1: teachers get twelve weeks of and you'll leave each year. 750 00:33:41,600 --> 00:33:44,560 Speaker 1: That's amazing. Yeah, It's like they absolutely do not. They 751 00:33:44,600 --> 00:33:47,560 Speaker 1: have so much work above and beyond what the average 752 00:33:47,600 --> 00:33:51,280 Speaker 1: employee has and a heap of responsibilities that we just 753 00:33:51,320 --> 00:33:53,920 Speaker 1: don't see. So I think it's really important that she's 754 00:33:53,920 --> 00:33:56,040 Speaker 1: actually brought her hand up and said, well, actually, I 755 00:33:56,120 --> 00:33:58,760 Speaker 1: need to be remunerated for this, especially so early on, 756 00:33:59,160 --> 00:34:01,680 Speaker 1: because this is important to me and this is my career. 757 00:34:01,920 --> 00:34:04,160 Speaker 1: And it was evident that she was really passionate about that, 758 00:34:04,240 --> 00:34:04,920 Speaker 1: and I loved that. 759 00:34:05,080 --> 00:34:06,800 Speaker 2: And what did you think of her rating? 760 00:34:06,920 --> 00:34:09,120 Speaker 1: I thought it was appropriate. I thought it was quite 761 00:34:09,120 --> 00:34:11,239 Speaker 1: in line with where she's at. She did mention she 762 00:34:11,280 --> 00:34:13,320 Speaker 1: had a small amount or they had a small amount 763 00:34:13,360 --> 00:34:15,920 Speaker 1: of credit card debts still and that they were getting 764 00:34:15,960 --> 00:34:19,200 Speaker 1: through that. However, it sounds like she's completely flipped her 765 00:34:19,200 --> 00:34:21,160 Speaker 1: money habits And what more can you ask? 766 00:34:21,480 --> 00:34:24,120 Speaker 2: And was there anything you think she could improve upon Victoria. 767 00:34:24,640 --> 00:34:26,799 Speaker 1: I think it'd just be around planning. So she had 768 00:34:26,840 --> 00:34:28,520 Speaker 1: a whole heap of goals that she said, and I 769 00:34:28,600 --> 00:34:30,160 Speaker 1: want to go on an overseas trip, and I want 770 00:34:30,160 --> 00:34:31,440 Speaker 1: to do this, and I want to do that, And 771 00:34:31,480 --> 00:34:33,719 Speaker 1: she said that she had five thousand dollars in savings, 772 00:34:33,920 --> 00:34:35,920 Speaker 1: but she's also got her own wedding at the end 773 00:34:35,920 --> 00:34:38,120 Speaker 1: of this year. I think it would be really important 774 00:34:38,160 --> 00:34:41,400 Speaker 1: to sit down and put together some really tangible goals 775 00:34:41,760 --> 00:34:43,719 Speaker 1: that you can say, all right, well, this is how 776 00:34:43,800 --> 00:34:45,919 Speaker 1: much I need for this goal, this is how much 777 00:34:45,960 --> 00:34:48,400 Speaker 1: I need for my wedding, And the best way to 778 00:34:48,440 --> 00:34:51,120 Speaker 1: actually approach those things is to just be really pragmatic 779 00:34:51,200 --> 00:34:54,920 Speaker 1: and have a goal and organize what that looks like upfront, 780 00:34:55,040 --> 00:34:57,320 Speaker 1: so that you one know what to expect, but to 781 00:34:57,800 --> 00:34:59,400 Speaker 1: know when you've achieved those things. 782 00:35:00,320 --> 00:35:02,360 Speaker 2: Thanks so much for sharing, tony ete and getting better, 783 00:35:05,600 --> 00:35:07,839 Speaker 2: And that is all we have time for today on 784 00:35:07,880 --> 00:35:10,799 Speaker 2: our pay rise pod. But just before we head off, 785 00:35:10,880 --> 00:35:14,160 Speaker 2: let's quickly wrap the boring but important stuff. The advice 786 00:35:14,200 --> 00:35:16,560 Speaker 2: shared on Shees on the Money is general in nature 787 00:35:16,600 --> 00:35:19,880 Speaker 2: and does not consider your individual circumstances. She's on the 788 00:35:19,920 --> 00:35:23,279 Speaker 2: Money exists purely for educational purposes and should not be 789 00:35:23,360 --> 00:35:27,040 Speaker 2: relied upon to make an investment or financial decision. And yes, 790 00:35:27,120 --> 00:35:31,280 Speaker 2: don't worry, we promise. Victoria Define is an authorized representative 791 00:35:31,320 --> 00:35:35,560 Speaker 2: of Consultant Financial Advisors Proprietary Limited ABN six five double 792 00:35:35,760 --> 00:35:39,000 Speaker 2: six three seven three double ninety five AFSL two three 793 00:35:39,000 --> 00:35:40,080 Speaker 2: O three two three. 794 00:35:40,239 --> 00:35:43,000 Speaker 1: We would love it if you joined our Facebook group, 795 00:35:43,160 --> 00:35:46,200 Speaker 1: where our community shares money tips and tricks every single 796 00:35:46,280 --> 00:35:48,759 Speaker 1: day free of judgment. So she's on the money. On 797 00:35:48,800 --> 00:35:51,879 Speaker 1: Facebook and join us. If Facebook's not your thing, find 798 00:35:51,960 --> 00:35:54,640 Speaker 1: us on Instagram. We're at She's on the money a US. 799 00:35:55,000 --> 00:35:56,400 Speaker 2: See you next week, guys, see you