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

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

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

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Speaker 2: one of our Friday Drinks episodes, where as always we

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Speaker 2: celebrate the wins from our She's on the Money community.

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Speaker 2: We all know there are so many great money wins

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Speaker 2: and confessions that are shared in our group every single week,

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Speaker 2: free of judgment, and the team and I this week

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Speaker 2: the team includes Georgia spent a very big part of

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Speaker 2: our days talking about these things in the office, so

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Speaker 2: it makes sense to share that all with you. So

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Speaker 2: moving on from that, let's recap quickly what happened during

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Speaker 2: the week Tony. What happened on Our Money Diary Monday?

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Speaker 3: Our money diarist talked about quite a colorful background she's

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Speaker 3: had and growing up with money and then kind of

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Speaker 3: losing it all, and talked about her very in depth

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Speaker 3: baby budget that she's set up. So was she actually

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Speaker 3: and announced her pregnancy on our podcast, which is very exciting.

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Speaker 3: That's and going to be interesting, you know when her

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Speaker 3: friends and family listen and go.

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Speaker 4: Oh, I had no idea, but that's fine.

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Speaker 2: That's for her figure out. That's nice. She made that

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Speaker 2: decision exactly, but yeah, she.

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Speaker 3: Talked about in depth baby budgeting, which was probably a

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Speaker 3: really good listen for some of our community that might

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Speaker 3: be expecting or trying to get pregnant at the moment.

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Speaker 4: If that's something that relates to you, maybe give it

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Speaker 4: a listen.

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Speaker 2: I really was goodn't it. It was actually a heap

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Speaker 2: of fun. She was really young and really switched on,

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Speaker 2: and I just like hearing stories about people that I

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Speaker 2: definitely never was at that age. Like, there's no way

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Speaker 2: I was that put together when I was.

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Speaker 4: Her age, So absolutely not me either.

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Speaker 2: Inspirational, slightly regretful from me and over to you, Georgia,

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Speaker 2: welcome back to Friday Drinks. It's been a friend. It

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Speaker 2: has been a while. How are we all? So thanks

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Speaker 2: for joining me. Guys.

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Speaker 5: I just want to let you know that the people

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Speaker 5: have been missing you. We've had some dms saying Georgia,

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Speaker 5: what's going on? And I had to say, don't worry.

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Speaker 5: We haven't fired her. She's just too busy for us exactly.

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Speaker 6: So sorry to leave everyone hanging. No one cares, but

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Speaker 6: here we are.

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Speaker 2: We're back. Yeah, but I do care. Thank you so much.

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Speaker 2: Georgia for gracing us with your presence.

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Speaker 6: It is good to be here. But do we want

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Speaker 6: to know what happened on Wednesday? Show?

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Speaker 2: Is that? Can you tell us what happened on Wednesday?

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Speaker 6: I certainly can. So it was our big Matt leave episode,

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Speaker 6: which feeds in nicely with the Monday episode I feel

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Speaker 6: with the baby budgeting. Yes, yeah, so we went real

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Speaker 6: deep on all things Matt leave, which is actually called

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Speaker 6: paternity leave, not maternity leave, fun fact, and I learned

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Speaker 6: a lot from it, including that you are legally allowed

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Speaker 6: two years of Marie Yeah.

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Speaker 2: Up to twenty four months of time off without any pay.

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Speaker 6: The other cool thing that happened on that episode was

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Speaker 6: that we spoke about miscarriage leave.

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Speaker 2: It was bereavement leave, so that you can take leave

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Speaker 2: for up to two days for a miscarriage if you

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Speaker 2: go through one. But gee, we're talking about it. I

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Speaker 2: don't think that's enough time.

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Speaker 6: No, definitely not, And we were saying it's like a

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Speaker 6: step in the right direction, but two days certainly isn't

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Speaker 6: enough time to move on from something like that.

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Speaker 2: I think what I liked about it is that we're

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Speaker 2: now recognizing that we do need leave for things like this,

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Speaker 2: and it's a step in the right direction in that aspect,

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Speaker 2: but I just feel really disappointed that it's only two

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Speaker 2: days and they've put a limit on that, Whereas you know,

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Speaker 2: if you had a cold, you could literally take the

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Speaker 2: week off with a doctor's certificate. So I think for me,

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Speaker 2: it's just not good enough. And if we're going to

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Speaker 2: move towards having equality for women, like, there's just so

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Speaker 2: much conversation to have around that situation, because if you

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Speaker 2: think about it a little bit more deeply. I mentioned

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Speaker 2: this on Wednesday as well. If you're going through a miscarriage,

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Speaker 2: most miscarriages happen before twelve weeks, and society tells us

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Speaker 2: you shouldn't tell anybody that you're pregnant before twelve weeks,

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Speaker 2: which I don't agree with. So more often than not,

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Speaker 2: we're going through these things in silence, and your workplace

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Speaker 2: doesn't know. So you know, if one of you guys

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Speaker 2: are pregnant, you might not want to bring it up

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Speaker 2: with your work because you were like, they didn't even

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Speaker 2: know I was pregnant. I don't really want to tell

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Speaker 2: them that that was the case, because like, I'm not

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Speaker 2: ready or I don't want that conversational. Maybe you just

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Speaker 2: don't want to talk about it. So I think it's

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Speaker 2: just more maybe we need more flexible time to have

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Speaker 2: bereavement leave, but also sick leave, and do we build

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Speaker 2: that together to mean that if you need to take

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Speaker 2: time off, regardless of what that is, like, do you

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Speaker 2: actually need to tell your employee about your personal life?

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Speaker 2: I don't know. Yeah, it's really hard.

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Speaker 5: One of my good friends has unfortunately gone through this

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Speaker 5: very recently, and she is also studying at UNI, and

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Speaker 5: she was stressing because she had this really big assignment

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Speaker 5: you and she like mentioned she popped it in our

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Speaker 5: group chat and one of the girls was like, just

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Speaker 5: email them, like email them and let them know that

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Speaker 5: it's extenuating circumstances. But even the pressure of that, especially

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Speaker 5: with a UNI lecture where you like, it's not really

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Speaker 5: someone that you know super intimately, especially in COVID when

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Speaker 5: you're not going there, and it was just a really

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Speaker 5: hard conversation to have. So it's really unfortunate that there

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Speaker 5: isn't some process in place to kind of simplify that

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Speaker 5: process for anybody who has lost a child, who is

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Speaker 5: obviously dealing with their own internal emotions and feelings to

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Speaker 5: then have to also explain it and justify it to people,

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Speaker 5: I think is really hard.

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Speaker 2: So I guess yeah, to wrap this little segment, guys,

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Speaker 2: we need to be talking about it more often and

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Speaker 2: normalizing these things that you know, they suck and it's

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Speaker 2: the worst and there's nothing that I can do in

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Speaker 2: this situation to help. But I think that if we

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Speaker 2: can just talk about these things and normalize them and

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Speaker 2: make you feel a little bit more comfortable, whether it's

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Speaker 2: you going through it or a friend that's going through it,

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Speaker 2: like you can be a little bit more supportive because

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Speaker 2: I don't know, just understanding that process means that we

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Speaker 2: can just genuinely be more supportive. Moving on from that, Tony,

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Speaker 2: I believe you have a number of money wins from

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Speaker 2: the community that you deem worthy enough for the podcast

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Speaker 2: this week. Worthy enough. I mean, they're all very good.

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Speaker 3: But here's a couple of my faves that I've found

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Speaker 3: on Jess's post. So if you're not familiar, Jess will

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Speaker 3: pop in a post every single week for you to

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Speaker 3: put in the week's money wins or losses that you've experienced,

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Speaker 3: and we love to read out a couple.

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Speaker 4: So can I share my faves with you guys, now.

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Speaker 2: Please, this is literally what I come for every single week.

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Speaker 2: Sometimes I ruin this segment for myself by trolling through

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Speaker 2: all of it. So when you start talking about it,

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Speaker 2: I'm like, oh, yeah, I totally knew that. Like, yeah,

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Speaker 2: I've heard that one. Don't tell me it was jess Is.

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Speaker 2: I've heard that one. I've seen it, I've liked it.

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Speaker 2: But like, what have you got, Tony, please surprise us?

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Speaker 2: So Live, says money Win.

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Speaker 3: I went to buy a hot water bottle not only

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Speaker 3: for keeping herself warm but keeps the heating down, which

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Speaker 3: is its own money win, I think, gys. But both

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Speaker 3: the cover and the hot water bottles separately. Scanned it

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Speaker 3: two dollars each and was advertised for twenty, so she

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Speaker 3: brought another two. So she saved fifty four dollars. She's

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Speaker 3: stocked up on hot water bottles. Bat likely we're coming

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Speaker 3: into sumer Tiagan says, money Win changed my car insurance

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Speaker 3: provider and saved three hundred dollars a year.

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Speaker 2: I think that one's a really good one and a

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Speaker 2: little bit of a kick up the bottom for anyone

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Speaker 2: who hasn't reviewed that one recently, because it comes up quickly.

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Speaker 3: But you've just got to make the call. Like we

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Speaker 3: always say, you're not calling mister insurance man. You know,

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Speaker 3: you're talking to real people who want to help you.

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Speaker 3: So you might be able to call them and just go, hey,

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Speaker 3: I've been with you guys for a couple of years.

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Speaker 2: Could I get a cheeky discount? And they might do it.

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Speaker 2: You never know. Yeah, I don't know why we don't

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Speaker 2: ask for these things, because, to be honest, if you

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Speaker 2: call up and you got this dapper attitude, you probably

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Speaker 2: brighten their day as well. They'd be like, I'm going

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Speaker 2: to give Georgia discount. She sounds like a stellar human.

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Speaker 3: If I had something to sell and someone called me

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Speaker 3: they were like, can I have a better price, I'd

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Speaker 3: be like, yeah, I'll give it to you. But then

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Speaker 3: if you were like rude to me, I.

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Speaker 2: Wouldn't offer the discount. I'd be like and then later

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Speaker 2: on group chat to my friends, so I'd be like,

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Speaker 2: I had a great day. Someone was rude to me

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Speaker 2: and I didn't give them the discount that they could

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Speaker 2: have had. Grace says money Win.

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Speaker 3: I volunteered to go with my dad on a four

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Speaker 3: hour each way trip to move some furniture and help

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Speaker 3: them move house. While I was there, found a whole

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Speaker 3: bunch of beautiful trees and plants in.

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Speaker 2: Their yard that they didn't care about.

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Speaker 3: So I ended up with nine plants out of the

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Speaker 3: garden and five potted plants sitting pretty in my house

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Speaker 3: for free. And plants get expensive. Plants extend very good money.

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Speaker 3: In Shalini says, I've been budge and tracking our finances.

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Speaker 2: Like a bus like it was like a houlse.

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Speaker 3: We actually have money in our every day account a

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Speaker 3: week before payday, which had never happened before, and haven't

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Speaker 3: dipped in trouse savings.

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Speaker 2: So that's so cool. Good on your Shillini. I love that.

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Speaker 2: It's the best feeling. It's the best feeling in Tony.

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Speaker 2: You've been through this recently where you were like, oh

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Speaker 2: my gosh, we've got our budget together and you've just

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Speaker 2: you just feel excited about it and like knowing that

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Speaker 2: that stress isn't there because you've just got it together.

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Speaker 2: It feels very satisfying.

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Speaker 3: It is very you feel like you're finally like your

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Speaker 3: mum and dad if they asked you about your finances.

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Speaker 4: You'd be like, yep, all sorted, like oh, yeah.

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Speaker 2: Like, actually, I have insurance take that. Yeah, and I

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Speaker 2: call them and got a discount.

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Speaker 3: Karen says, paid off my car loan calculated more than

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Speaker 3: I needed, so I was able to pay off the

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Speaker 3: remaining amount and topped up my emergency fund and she

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Speaker 3: officially has no more debt to her name.

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Speaker 4: Oh my gosh.

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Speaker 3: Yes, that is also the best feeling and very like last.

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Speaker 4: Cody says that their husband purchased a pizza roven for.

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Speaker 3: Four hundred dollars after a few too many beers. When

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Speaker 3: it came the stone was cracked, and looked them up

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Speaker 3: online and it was going to be thirty dollars to

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Speaker 3: replace it. So she jumped on the phone, talked to

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Speaker 3: the company and they said that they would replace the

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Speaker 3: broken stone for free, but then they sent out a

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Speaker 3: whole new pizza oven instead. Does that matter has two

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Speaker 3: pizza She has two pizza ovens, but only one stone.

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Speaker 5: I referred to her on the thing and said she

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Speaker 5: should just replace it and then sell the other one,

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Speaker 5: because and then that.

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Speaker 2: Is what you would do, Jeff, or spend the thirty

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Speaker 2: dollars now to replace it and sell a fully functional

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Speaker 2: one that doesn't have a broken plate and you'll make money.

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Speaker 2: Oh that's what I thought you meant, That's what I meant.

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Speaker 1: Yeah, okay, welcome Victoria.

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Speaker 2: Myself out a right, guys, I had true things that

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Speaker 2: I want to discuss with you on this episode. Both

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Speaker 2: are arguably as exciting as each other. The first is

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Speaker 2: about Zuckerberg's net worth and how it dropped recently, which

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Speaker 2: I mean, I get a sick level of satisfaction out of,

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Speaker 2: but I'll get to that in a hot second. And

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Speaker 2: then the second one is the one reason why one

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Speaker 2: in eight people here in Australia have been dumped. So

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Speaker 2: jumping right in earlier this week, I think we all

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Speaker 2: felt it when we woke up on Tuesday morning and

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Speaker 2: tried to scroll on Instagram and Facebook to realize it

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Speaker 2: was down very stressful. Why.

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Speaker 3: I messaged Jess straight away and was like, I can't

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Speaker 3: get into the Facebook group.

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Speaker 2: How am I going to do my job?

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Speaker 3: She was like, take the day off.

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Speaker 2: I think that was really reasonable of Jess to just

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Speaker 2: automatically assume that that was what you guys were doing.

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Speaker 5: It seemed like the reasonable solution.

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Speaker 2: Really, yeah, I thought so. I thought that was really reasonable.

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Speaker 2: But turns out at about two forty five am our time, Facebook, Instagram, WhatsApp,

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Speaker 2: they were all just unable to open, like it completely

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Speaker 2: went down, and oh my gosh, I know, I can't

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Speaker 2: believe it. Like what if I woke up at three

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Speaker 2: am and needed to mindlessly scroll Instagram to get back

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Speaker 2: to sleep.

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Speaker 5: That would be a global outage though, right, so, like

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Speaker 5: three am our time is probably normal time somewhere else,

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Speaker 5: somewhere else that has Facebook. I'm not good at well timed,

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Speaker 5: but it feels like middle of the day for America.

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Speaker 2: I'm sure that's the case, and I'm assuming I swear

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Speaker 2: that went but I mean to make this financially related obviously,

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Speaker 2: for it to be out Facebook makes a lot of money.

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Speaker 2: We know. Facebook makes a lot of money, makes it

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Speaker 2: off advertising and people paying to be on the platform

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Speaker 2: to get different features, and that's why Zuckerberg is one

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Speaker 2: of the richest people in the entire world, which is

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Speaker 2: kind of cool to think about, because if I remember back,

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Speaker 2: I literally remember people being like, are you on Facebook?

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Speaker 2: And it'd be like, I'm not on Facebook. I don't

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Speaker 2: need to be on Facebook. I've got MySpace, and now

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Speaker 2: my entire business is on Facebook. In my own face anyway,

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Speaker 2: burns out that during that period of time, the stock

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Speaker 2: price of Facebook completely plummeted. It went down five percent,

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Speaker 2: which you go, oh, it's only five percent, but that

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Speaker 2: equates to a net loss of about nine point six

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Speaker 2: billion dollars Australian Zuckerberg in his share prices, and like,

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Speaker 2: that's what five percent? Guys, I wish that was five

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Speaker 2: percent of my worth was? I know, I know, to

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Speaker 2: make this a little bit more juicy, and obviously like

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Speaker 2: Zuckerberg losing money juicy, but to make it more juicy

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Speaker 2: in America overnight, like as in the night before it

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Speaker 2: went down, CBS News, which is one of their platforms,

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Speaker 2: lack our Channel seven or Channel nine or channel ten

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Speaker 2: had sixty minutes, which we know very well they also

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Speaker 2: have that in the US. They aired a segment in

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Speaker 2: which Facebook whistleblower Francis Hougan alleged that the social media

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Speaker 2: giant knew that its products were fueling hate and harming

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Speaker 2: the mental health of children, but they were allowing it

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Speaker 2: to go on. And she essentially said that Facebook would

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Speaker 2: always prioritize revenue over mental health. So that I think

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Speaker 2: I saw something about that.

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Speaker 5: It came from Instagram, HQ or something, and it was

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Speaker 5: like an internal comms like an email or something where

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Speaker 5: they were discussing it, and I think, like, it's really

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Speaker 5: like you understand that as a business, like you have

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Speaker 5: to prioritize revenue, but it's really hard because those conversations

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Speaker 5: around mental health and the impact that social media and

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Speaker 5: filters and you know, the impact that it has on

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Speaker 5: body dysmorphia and people's confidence levels and suicide rates and

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Speaker 5: like all of those things which are literally detrimental to

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Speaker 5: some people's lives. It's scary to think that, you know,

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Speaker 5: in that situation, they're able to put revenue before you

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Speaker 5: know the duty of care that they have to their users.

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Speaker 2: Which seems insane. This isn't the first time this topic

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Speaker 2: has come up for Facebook, and obviously, as she's on

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Speaker 2: the money, we are massive advocates of positive mental health

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Speaker 2: and only surrounding yourself with things that nurish you. And Georgia,

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Speaker 2: you're not even on Instagram at the moment. You seldom

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Speaker 2: ever jump on Facebook unless you're in our community. And

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Speaker 2: it's one of those things where we know internally what

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Speaker 2: the impacts of that are. And I think it's worthy

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Speaker 2: of note that if you feel like you're absorbing too

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Speaker 2: much negativity via social media that you actually just need

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Speaker 2: to do a bit of a call or a reset

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Speaker 2: or a detox from social media, which we are big

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Speaker 2: fans of. But I guess when we go back to

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Speaker 2: the financial side of things, this has been going on

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Speaker 2: for a while. In fact, at the beginning of September,

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Speaker 2: Zuckerberg's Facebook stock had already lost about fifteen percent of

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Speaker 2: its value because of those whistleblowing claims, which I think

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Speaker 2: is wild, which essentially means that Zuckerberg's chairs have gone

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Speaker 2: down twenty percent in the last two weeks. Zuckerberg has

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Speaker 2: now dropped below Bill Gates to number five on the.

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Speaker 3: Rich List trips because that would have all kind of

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Speaker 3: been off the back of that Netflix stock o that

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Speaker 3: came out as well, wasn't it.

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Speaker 2: That was like a year ago?

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Speaker 3: Now, Yeah, it was so dilemma, Yeah, which like obviously

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Speaker 3: kind of caused ripples through people. I mean, it changed

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Speaker 3: for a week and then everyone goes back to normal,

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Speaker 3: but you kind of change your habits to go, oh

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Speaker 3: my god, I don't want to be so addicted to

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Speaker 3: the phone. And I know that this isn't strictly finance related,

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Speaker 3: but you don't really think about the impacts that that

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Speaker 3: kind of thing has on, you know, stock prices and

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Speaker 3: people's like networth, And I would have never even thought

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Speaker 3: about how that would have affected revenue. You know, the

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Speaker 3: blackout that we had on Tuesday, Yeah, affected the market.

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Speaker 2: Yeah, And I think that that's why I wanted to

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Speaker 2: bring it up, because it's like, I don't know, saying

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Speaker 2: it's funny is funny? Talking about it is one thing

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Speaker 2: to be like, oh my gosh, did you see that?

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Speaker 2: It could be a little bit coincidental, because obviously CBS

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Speaker 2: did that sixty minutes thing and then all of a

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Speaker 2: sudden Facebook was down. But I really doubt that a

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Speaker 2: company that makes hundreds of millions of dollars per hour

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Speaker 2: is going to put them in a position where they're

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Speaker 2: like sixty minutes cents the main things, We're going to

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Speaker 2: have a blackout and stop revenue like that is not

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Speaker 2: how that would have worked. And I did see lots

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Speaker 2: of tiktoks floating around the internet this week about that conspiracy,

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Speaker 2: and I just want a debunkhead. But I think it's

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Speaker 2: more interesting when we start talking about what's happening in

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Speaker 2: the media and happening in the world and then ultimately

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Speaker 2: how that impacts the share market and what that means.

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Speaker 2: And if you think that you are immune to that,

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Speaker 2: and you're like, oh my gosh, no, I just use

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Speaker 2: my crew investing platforms here in Australia like Raise and

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Speaker 2: spaceship cool, your own Facebook, like that is part of

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Speaker 2: your portfolio and that is what is driving your share returns.

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Speaker 2: And that is what is driving your portfolio returns. And

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Speaker 2: it's also why we diversify so much, because we don't

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Speaker 2: want to put all our eggs in one basket. So

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Speaker 2: for example, if you only owned stock in Facebook, your

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Speaker 2: share price over the last month would have decreased by

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Speaker 2: twenty percent. That is a really big fluctuation in price

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Speaker 2: I wouldn't feel comfortable with. But in an ETF that

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Speaker 2: holds it, that risk is kind of like diluted over

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Speaker 2: all of them, so you never feel a twenty percent decrease. Anyway.

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Speaker 2: I won't get too complex on that because I did

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Speaker 2: promise to talk about how people are breaking up, but

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Speaker 2: I just think it's really important to talk about these

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Speaker 2: things in a little bit more of a finance context

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Speaker 2: and be like, hey, cool, So yeah, it's funny to

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Speaker 2: think that Zuckerberg lost some money. He's a billionaire. But also,

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Speaker 2: how does this impact us with the.

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Speaker 6: Rise of TikTok and other social media platforms. Will Facebook

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Speaker 6: and Instagram lose value on the stock market? Is that

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Speaker 6: like anticipated? Or are they still going to stay as

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Speaker 6: strong as ever.

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Speaker 2: I think that they've stayed pretty strong over the last

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Speaker 2: while because they still hold such value with the communities

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Speaker 2: that are already using them. But it's definitely worthy of consideration.

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Speaker 2: I don't think that TikTok will replace these things because

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Speaker 2: they are quite literally different product offerings. Like TikTok is

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Speaker 2: very video based, which I think is pushed in stock

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Speaker 2: into becoming a little bit more competitive with video. And

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Speaker 2: it was only a month or two ago that Instagram

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Speaker 2: came out and said we are now a video based

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Speaker 2: priority platform, which means they've gone from being a photo

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Speaker 2: sharing platform which they came out as, to now really

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Speaker 2: driving video. So they are obviously trying to compete. But

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Speaker 2: I think when you look at Facebook as a whole,

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Speaker 2: Facebook actually owns Instagram, and it owns WhatsApp and a

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Speaker 2: plethora of other companies, it's completely different. Yes, other competitors

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Speaker 2: coming into the market is always going to impact share

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Speaker 2: price and value of that company. I mean, look what

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Speaker 2: happened to MySpace because they didn't stay afloat in the

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Speaker 2: same way that Facebook did when it came to being competitive.

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Speaker 2: So it's worth considering. But it doesn't mean the newest

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Speaker 2: thing is always the best or it will replace it.

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Speaker 2: It's just interesting to be educated and interesting to know

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Speaker 2: what's going on. Moving on, though, turns out that one

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Speaker 2: in eight Australians have been dumped due to having poor finances.

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Speaker 3: Like is that that is a lot higher than I

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Speaker 3: would have thought.

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Speaker 2: I think, yeah, so find It did some research and

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Speaker 2: it revealed that thirteen percent of Australians have been through

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Speaker 2: a breakup due to their financial situation. So the survey

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Speaker 2: outlined that it was essentially due to having no savings,

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Speaker 2: unpaid debts, or the one that worried me the most,

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Speaker 2: poor financial knowledge. They were being marked as main reasons

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Speaker 2: for breakups. That is a lot of people I think

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Speaker 2: to have been broken up with. And the fact that

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Speaker 2: they literally said poor financial knowledge. It wasn't just debt,

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Speaker 2: it wasn't just not have savings. It wasn't you know,

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Speaker 2: gambling or anything like that. It was poor financial knowledge,

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Speaker 2: Like who does that, Oh you don't listen to she's

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Speaker 2: on the money, you're out. Is that what we're saying,

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Speaker 2: that's what I do.

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Speaker 6: That's like, that's pretty savage. If someone was like, gee,

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Speaker 6: you're a lovely lady, but poor financial knowledge, it's undone.

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Speaker 5: I feel like it's broader than that, though, because thinking

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Speaker 5: about the posts that we sometimes see in the community.

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Speaker 5: You can be like someone can be raised without, you know,

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Speaker 5: a lot of financial literacy. There's a lot of things

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Speaker 5: that factor into that. There's not necessarily a great standardized

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Speaker 5: curriculum around finances in a lot of schools. If your family,

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Speaker 5: you know, if it's not something I've spoken about in

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Speaker 5: your family, Like, all of those things factor in. But

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Speaker 5: I think like, and it's hard without like seeing the

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Speaker 5: actual research. But for example, if you were dating someone

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Speaker 5: and your financial goals didn't align, or if you had

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Speaker 5: a shared financial goal and one of you was working

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Speaker 5: towards it and one of you wasn't or didn't have

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Speaker 5: that education and also weren't prepared to educate yourself, like,

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Speaker 5: I would absolutely see that being a problem because if

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Speaker 5: you're not on the same page and you're not able

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Speaker 5: to work towards the same things like, how do you

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Speaker 5: actually feel like it's an equal standing within that partnership.

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Speaker 2: I found it really pervy, I guess because I'm obviously

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Speaker 2: into finances and understanding them and how they make people tick.

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Speaker 2: But they actually broke it down even further so before

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00:22:00,400 --> 00:22:03,480
Speaker 2: I said thirteen percent, So of that, six percent of

435
00:22:03,480 --> 00:22:06,159
Speaker 2: people were dumped because they had a low income. Like

436
00:22:06,760 --> 00:22:12,159
Speaker 2: what four percent of people said that their level of

437
00:22:12,200 --> 00:22:14,520
Speaker 2: debt had become too big of an issue for their

438
00:22:14,560 --> 00:22:18,560
Speaker 2: significant other, which I can completely see as something that

439
00:22:18,840 --> 00:22:21,480
Speaker 2: is a big issue in relationships. We see it in

440
00:22:21,520 --> 00:22:24,399
Speaker 2: the she's on the money community. I get it. But

441
00:22:24,560 --> 00:22:28,840
Speaker 2: that means the remaining three percent, which guys quick maths

442
00:22:29,400 --> 00:22:32,480
Speaker 2: because I'm really good at quick maths, equates to five

443
00:22:32,600 --> 00:22:36,600
Speaker 2: hundred and eighty two thousand people nationally were dumped because

444
00:22:36,640 --> 00:22:40,040
Speaker 2: they had poor understanding of personal finances. The debt one

445
00:22:40,119 --> 00:22:41,160
Speaker 2: is a big one. I guess.

446
00:22:41,160 --> 00:22:43,720
Speaker 3: If it's not shared debt, then you would be like,

447
00:22:43,840 --> 00:22:46,440
Speaker 3: I actually can't take on the stress of your debt

448
00:22:46,720 --> 00:22:48,760
Speaker 3: that you have accumulated.

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00:22:48,080 --> 00:22:51,679
Speaker 4: Without me, And it's yeah, you know, that's that is

450
00:22:51,760 --> 00:22:52,800
Speaker 4: a lot to take on.

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Speaker 5: I wonder if that last statistic around lack of financial literacy.

452
00:22:57,359 --> 00:23:00,080
Speaker 5: To go back to that, I wonder if as well

453
00:23:00,119 --> 00:23:02,480
Speaker 5: that has to do with like the mental load within

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00:23:02,480 --> 00:23:05,879
Speaker 5: a household. So if one person is more financially literate

455
00:23:05,920 --> 00:23:09,640
Speaker 5: than the other and the responsibility of like managing those

456
00:23:09,680 --> 00:23:13,480
Speaker 5: finances is just on one person, you know, that also

457
00:23:13,520 --> 00:23:16,479
Speaker 5: would be a really stressful situation to find yourself in.

458
00:23:16,560 --> 00:23:19,080
Speaker 5: And again, you know, when you're in a relationship, it's

459
00:23:19,119 --> 00:23:21,439
Speaker 5: a partnership and you want to try and work together

460
00:23:21,560 --> 00:23:24,440
Speaker 5: and help educate someone if you can. But if there

461
00:23:24,760 --> 00:23:27,639
Speaker 5: is that you know, mindset of oh I don't understand it,

462
00:23:27,720 --> 00:23:30,440
Speaker 5: that's a you problem. Again, I could kind of see

463
00:23:30,440 --> 00:23:32,879
Speaker 5: where if that was me and my relationship, I actually

464
00:23:32,920 --> 00:23:34,520
Speaker 5: wouldn't be super comfortable with that.

465
00:23:35,200 --> 00:23:38,280
Speaker 2: Yeah. Yeah, and I can completely see how that works.

466
00:23:38,400 --> 00:23:43,040
Speaker 2: I mean to sort of make life of this negative situation.

467
00:23:43,200 --> 00:23:45,760
Speaker 2: Though I don't know if this is positive, but I

468
00:23:45,760 --> 00:23:48,560
Speaker 2: think it'll get a laugh. The research also showed that

469
00:23:48,640 --> 00:23:51,560
Speaker 2: men were four times more likely to be dumped because

470
00:23:51,560 --> 00:23:54,640
Speaker 2: of their financial situation than women, So clearly it's women

471
00:23:54,680 --> 00:23:59,359
Speaker 2: being like nah ah, honey, out, isn't that interesting that

472
00:23:59,400 --> 00:24:00,800
Speaker 2: we will put with less?

473
00:24:01,960 --> 00:24:05,080
Speaker 5: But also that like historically you would think, you know

474
00:24:05,160 --> 00:24:08,080
Speaker 5: that men are more educated in the finance space, and like,

475
00:24:08,119 --> 00:24:11,439
Speaker 5: that's part of why this podcast exists, is because you

476
00:24:11,480 --> 00:24:15,879
Speaker 5: know that information wasn't necessarily as inherently available to females

477
00:24:15,920 --> 00:24:18,040
Speaker 5: as it was to males, and so sure, I feel

478
00:24:18,080 --> 00:24:20,240
Speaker 5: like that's a really nice sign of the times are changing,

479
00:24:20,280 --> 00:24:22,240
Speaker 5: and maybe women are stepping up and going, hey, like

480
00:24:22,280 --> 00:24:25,280
Speaker 5: I've educated myself and actually like, this is what I'm

481
00:24:25,320 --> 00:24:27,399
Speaker 5: prepared to put up with in a relationship, and this

482
00:24:27,440 --> 00:24:28,000
Speaker 5: is what I'm not.

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00:24:28,520 --> 00:24:30,840
Speaker 2: I hope that that is it. I really hope that

484
00:24:31,119 --> 00:24:34,760
Speaker 2: as women, we are now saying nah, actually my standards

485
00:24:34,800 --> 00:24:37,439
Speaker 2: are here, and I can put my foot down and

486
00:24:37,520 --> 00:24:40,840
Speaker 2: have these expectations and we'll put up with less. That

487
00:24:40,960 --> 00:24:42,480
Speaker 2: is Yeah, that is just so interesting.

488
00:24:42,560 --> 00:24:44,680
Speaker 5: And I feel like I know that we love doing

489
00:24:44,720 --> 00:24:47,520
Speaker 5: like a fun little Friday thread. Can I pop in

490
00:24:47,560 --> 00:24:51,440
Speaker 5: the Facebook group today? What financial reason did you break

491
00:24:51,520 --> 00:24:52,560
Speaker 5: up with your partner?

492
00:24:52,840 --> 00:24:53,000
Speaker 2: You know?

493
00:24:53,240 --> 00:24:56,000
Speaker 5: It is like, is this actually happening? Because I feel

494
00:24:56,000 --> 00:24:58,080
Speaker 5: like there's one hundred and eighty thousand people in our community.

495
00:24:58,680 --> 00:25:00,800
Speaker 5: Surely some of them fit in to that status.

496
00:25:01,160 --> 00:25:03,560
Speaker 2: I absolutely would. I want to hear it. And sometimes

497
00:25:03,560 --> 00:25:06,480
Speaker 2: people slip into our dms and have the juiciest of stories.

498
00:25:06,680 --> 00:25:09,600
Speaker 2: So if you're willing go comment on Jess's post as

499
00:25:09,600 --> 00:25:11,760
Speaker 2: to why you broke up with your partner if it's

500
00:25:11,800 --> 00:25:13,720
Speaker 2: finance related, I don't I don't want to hear if

501
00:25:13,760 --> 00:25:15,800
Speaker 2: they're just cheating like, that's not juicy enough.

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Speaker 5: Guys.

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Speaker 2: I think that that is all we have time for today.

504
00:25:21,000 --> 00:25:23,800
Speaker 2: But as always, just before we head off, we'd like

505
00:25:23,880 --> 00:25:27,560
Speaker 2: to acknowledge and pay respect to Australia's Aboriginal and torust

506
00:25:27,640 --> 00:25:31,280
Speaker 2: Rate islander people's. They're the traditional custodians of the lands,

507
00:25:31,440 --> 00:25:35,359
Speaker 2: the waterways and the skies all across Australia. We thank

508
00:25:35,400 --> 00:25:37,520
Speaker 2: you for sharing and for caring for the land on

509
00:25:37,560 --> 00:25:40,400
Speaker 2: which we are able to learn. We pay our respects

510
00:25:40,400 --> 00:25:43,280
Speaker 2: to elders past and present, and we share our friendship

511
00:25:43,359 --> 00:25:44,560
Speaker 2: and our kindness.

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00:25:45,000 --> 00:25:47,359
Speaker 6: The advice shared on She's on the Money is general

513
00:25:47,400 --> 00:25:50,600
Speaker 6: in nature and does not consider out your individual circumstances.

514
00:25:51,040 --> 00:25:54,280
Speaker 6: She's on the Money exists purely for educational purposes and

515
00:25:54,320 --> 00:25:56,840
Speaker 6: should not be relied upon to make an investment or

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00:25:56,840 --> 00:26:00,720
Speaker 6: a financial decision, and we promise Victoria's Fine is an

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00:26:00,720 --> 00:26:05,680
Speaker 6: authorized representative of Australia Pacific Funds Management Proprietary Limited A

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Speaker 6: B N three four one three two four six three

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00:26:08,359 --> 00:26:11,960
Speaker 6: two five seven AFS L three three nine one five one.

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Speaker 2: See you next Friday.

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Speaker 6: Hi, guys, hey,