1 00:00:09,560 --> 00:00:12,360 Speaker 1: Hello, and welcome to Chose on the Money, the podcast 2 00:00:12,520 --> 00:00:14,320 Speaker 1: Millennials who Want Financial Freedom. 3 00:00:14,680 --> 00:00:15,760 Speaker 2: My name is Georgia King. 4 00:00:15,880 --> 00:00:19,000 Speaker 1: I'm a copywriter and journalism student with lots left alone 5 00:00:19,000 --> 00:00:21,479 Speaker 1: when it comes to money. Fortunately, here to help me 6 00:00:21,520 --> 00:00:25,040 Speaker 1: out as always is Melbourne based financial advisor Victoria Devine. 7 00:00:25,120 --> 00:00:26,320 Speaker 2: Good morning, Georgia King. 8 00:00:26,600 --> 00:00:29,320 Speaker 1: Hello Victoria Devine. Now today on the show, we are 9 00:00:29,320 --> 00:00:31,840 Speaker 1: going to be talking all things budgeting and cash flow 10 00:00:32,120 --> 00:00:33,840 Speaker 1: so we can make sure that the money coming into 11 00:00:33,840 --> 00:00:36,760 Speaker 1: our accounts is being allocated wisely and that our spending 12 00:00:36,800 --> 00:00:39,000 Speaker 1: not only aligns to our values, but that it won't 13 00:00:39,000 --> 00:00:42,160 Speaker 1: compromise our end goal of achieving financial freedom. We are 14 00:00:42,200 --> 00:00:44,240 Speaker 1: also going to be focusing on a house. Staying on 15 00:00:44,280 --> 00:00:46,320 Speaker 1: top of our budgeting and cash flow can help us 16 00:00:46,360 --> 00:00:48,559 Speaker 1: stay out or get out of debt, which we know, 17 00:00:48,760 --> 00:00:51,520 Speaker 1: given today's climate, is something we are all really wanting 18 00:00:51,560 --> 00:00:55,200 Speaker 1: some guidance on. But before we get into the nitty gritty, Victoria, 19 00:00:55,640 --> 00:00:57,560 Speaker 1: let's start off the way we always do, even though 20 00:00:57,560 --> 00:00:59,680 Speaker 1: things are a little different and we're chatting to each 21 00:00:59,680 --> 00:01:04,040 Speaker 1: other by zoom today, Ah, tell me about your week, 22 00:01:04,080 --> 00:01:05,440 Speaker 1: money wins, confessions, What's been. 23 00:01:05,400 --> 00:01:05,960 Speaker 2: Going on all right? 24 00:01:06,080 --> 00:01:09,360 Speaker 3: So as you were saying last week, our money wins 25 00:01:09,360 --> 00:01:11,840 Speaker 3: and confessions are getting a little bit bottom of the barrel. 26 00:01:11,880 --> 00:01:14,720 Speaker 3: But that is okay because I bring to you one 27 00:01:14,760 --> 00:01:18,440 Speaker 3: of the lowest money wins ever. This week, I found 28 00:01:18,560 --> 00:01:23,360 Speaker 3: in my cupboard in my kitchen an ancient pancake maker, and. 29 00:01:23,280 --> 00:01:25,039 Speaker 2: I have started to make use of it. 30 00:01:25,760 --> 00:01:28,200 Speaker 3: The reason I think that this is an absolute money 31 00:01:28,200 --> 00:01:31,759 Speaker 3: win for me is that pancake mix really cheap. I mean, 32 00:01:31,800 --> 00:01:35,280 Speaker 3: I've got some fancy gluten free buckwheat flour thingy thing. 33 00:01:35,319 --> 00:01:37,880 Speaker 3: I don't know what you would call it. It's delicious, though, 34 00:01:38,000 --> 00:01:41,800 Speaker 3: and it is much cheaper than having very fancy breakfast. 35 00:01:41,880 --> 00:01:44,360 Speaker 3: But I feel like I'm having a fancy breakfast at 36 00:01:44,360 --> 00:01:47,560 Speaker 3: home because I'm putting like frozen berries and stuff that 37 00:01:47,720 --> 00:01:50,600 Speaker 3: is really fun into my pancake mix before I make it. 38 00:01:50,880 --> 00:01:53,200 Speaker 3: So money win for me is cheap breakfast at home 39 00:01:53,240 --> 00:01:56,240 Speaker 3: that feel fancy, especially on the weekend. Well you know, 40 00:01:56,320 --> 00:01:58,840 Speaker 3: we're not actually legally allowed to go out for breakfast, 41 00:01:59,120 --> 00:02:02,040 Speaker 3: but also that they're so quick and easy and I 42 00:02:02,120 --> 00:02:04,240 Speaker 3: genuinely love them, and I feel like I've been able 43 00:02:04,280 --> 00:02:06,280 Speaker 3: to mix it up love that. This week on the menu, 44 00:02:06,320 --> 00:02:08,200 Speaker 3: maybe I'm gonna put some zacchini in it and make 45 00:02:08,280 --> 00:02:09,559 Speaker 3: some savory pancakes. 46 00:02:09,600 --> 00:02:10,160 Speaker 2: Watch out. 47 00:02:10,400 --> 00:02:13,200 Speaker 1: I have not had pancakes for a very long time. 48 00:02:13,360 --> 00:02:15,760 Speaker 3: I didn't think I liked pancakes until I found the 49 00:02:15,760 --> 00:02:17,840 Speaker 3: maker and just thought, well, we're a nice So what 50 00:02:17,960 --> 00:02:18,760 Speaker 3: else have I got to do? 51 00:02:18,800 --> 00:02:20,280 Speaker 2: I'm going to give this a hot crack. 52 00:02:20,919 --> 00:02:23,160 Speaker 3: Georgia King, if you've got a better money we're or 53 00:02:23,200 --> 00:02:25,160 Speaker 3: confession to share with the community this week. 54 00:02:25,720 --> 00:02:27,720 Speaker 1: Look, I don't know if it's better, but it's a win. 55 00:02:28,240 --> 00:02:32,040 Speaker 1: So this week I've been making homemade peanut butter. Ooh, 56 00:02:32,639 --> 00:02:34,639 Speaker 1: so I've been churning through the peanut butter. I think 57 00:02:34,680 --> 00:02:37,280 Speaker 1: it's craft or is it bigan out? I actually think 58 00:02:37,280 --> 00:02:37,959 Speaker 1: it might be bigger. 59 00:02:38,040 --> 00:02:39,840 Speaker 2: It's bigger. It is bigger, but. 60 00:02:40,000 --> 00:02:42,280 Speaker 1: That delicious creamy stuff that's going to set you back 61 00:02:42,320 --> 00:02:45,360 Speaker 1: like six bucks, which is actually dark. That's expensive, but 62 00:02:45,400 --> 00:02:48,440 Speaker 1: still making your own is about two dollars because you 63 00:02:48,520 --> 00:02:51,840 Speaker 1: just you literally buy a packet of salted peanuts, slap 64 00:02:51,840 --> 00:02:53,880 Speaker 1: them in the blender for like a minute, and then 65 00:02:53,880 --> 00:02:55,160 Speaker 1: you've got your own peanut butter. 66 00:02:55,440 --> 00:02:56,080 Speaker 2: Oh yum. 67 00:02:56,360 --> 00:02:58,919 Speaker 3: I do like beger, but I feel like that Mava 68 00:02:59,040 --> 00:03:01,360 Speaker 3: is peanut butter, which which is even more expensive and 69 00:03:01,400 --> 00:03:05,720 Speaker 3: a little bit fancy. Is so good only because I 70 00:03:05,720 --> 00:03:07,640 Speaker 3: feel like it's better for me. It's probably neither are 71 00:03:07,680 --> 00:03:10,679 Speaker 3: probably better for me. Let's be honest, they're probably both. 72 00:03:10,560 --> 00:03:11,600 Speaker 2: Just as bad as each other. 73 00:03:12,040 --> 00:03:14,680 Speaker 3: I know it's healthy, but like in comparison, like I 74 00:03:14,720 --> 00:03:17,080 Speaker 3: was trying to buy the healthy version, but I feel 75 00:03:17,120 --> 00:03:20,239 Speaker 3: like I should just buy my bigger I love bigger. 76 00:03:20,480 --> 00:03:21,880 Speaker 1: Yeah, or make your own like me. 77 00:03:22,040 --> 00:03:23,680 Speaker 2: I don't know if I've got that skill. I'm not 78 00:03:23,720 --> 00:03:24,359 Speaker 2: gonna lie. 79 00:03:24,440 --> 00:03:26,760 Speaker 1: We could chat about peanut butter all day long, but 80 00:03:27,200 --> 00:03:29,200 Speaker 1: we might be boring our listeners now, So if you 81 00:03:29,240 --> 00:03:31,480 Speaker 1: want to move along, f you're interested in chatting about 82 00:03:31,480 --> 00:03:33,000 Speaker 1: the Facebook group this week? 83 00:03:33,280 --> 00:03:35,880 Speaker 3: Yes, absolutely, I have one from Lauren, who made a 84 00:03:36,040 --> 00:03:39,840 Speaker 3: very short but very sweet post that said, winning ten 85 00:03:39,920 --> 00:03:43,200 Speaker 3: dollars for the August edition of Vogue, love reading Vogue 86 00:03:43,320 --> 00:03:46,480 Speaker 3: and a free Max Factor mascara worth twenty seven dollars. 87 00:03:46,640 --> 00:03:50,000 Speaker 3: That's a money win in my eyes. Yeahsquit No, I 88 00:03:50,040 --> 00:03:53,480 Speaker 3: feel like I've been asking a lot about mascaras. I mean, 89 00:03:53,520 --> 00:03:57,400 Speaker 3: another Facebook group called you Beauty, and I absolutely adore it. 90 00:03:57,480 --> 00:04:00,320 Speaker 3: But I was reading lots about Mascara's recently because Georgia, 91 00:04:00,360 --> 00:04:02,320 Speaker 3: I think you know that I am an absolute tragic 92 00:04:02,360 --> 00:04:05,680 Speaker 3: for a set of false eye lashes, and obviously during 93 00:04:05,800 --> 00:04:09,000 Speaker 3: COVID that's not possible to go and get my extensions 94 00:04:09,040 --> 00:04:12,400 Speaker 3: put on. So I've been looking for the og Mescara 95 00:04:12,640 --> 00:04:16,120 Speaker 3: and a max Factor false slash effects. Mescara actually came 96 00:04:16,200 --> 00:04:18,839 Speaker 3: up as a suggestion, and from the look of the 97 00:04:18,839 --> 00:04:21,600 Speaker 3: photo it looks like that's one of the ones they recommended. 98 00:04:21,720 --> 00:04:23,520 Speaker 3: So to me, that looks like a money win. 99 00:04:23,680 --> 00:04:25,040 Speaker 2: That's FESTIFD exact. 100 00:04:24,800 --> 00:04:27,920 Speaker 1: And also awesome that she's supporting magazines who are obviously 101 00:04:27,960 --> 00:04:30,479 Speaker 1: going through a really tough time right now. Yeah, I'm 102 00:04:30,520 --> 00:04:32,120 Speaker 1: on board for that for sure. 103 00:04:31,960 --> 00:04:34,960 Speaker 2: One hundred percent. Georgia. Do you have a post that 104 00:04:35,040 --> 00:04:36,320 Speaker 2: stood out to you this week? 105 00:04:36,440 --> 00:04:37,000 Speaker 1: Absolutely? 106 00:04:37,040 --> 00:04:37,280 Speaker 2: I do. 107 00:04:37,400 --> 00:04:40,440 Speaker 1: We've had so many amazing ones lately as always, but 108 00:04:40,520 --> 00:04:44,000 Speaker 1: my favorite was from Kelly, who runs a group on 109 00:04:44,040 --> 00:04:46,560 Speaker 1: the Gold Coast called the Surf Witches. So it's a 110 00:04:46,560 --> 00:04:49,320 Speaker 1: girls group on the Gold Coast. They had their surf 111 00:04:49,360 --> 00:04:51,080 Speaker 1: in the morning and then they came back to one 112 00:04:51,080 --> 00:04:54,360 Speaker 1: of the girl's houses afterwards and how to chat about 113 00:04:54,360 --> 00:04:57,800 Speaker 1: this ses on the Money podcast and about investing Q. Yeah, 114 00:04:57,839 --> 00:04:59,400 Speaker 1: did you see this they were all talking about their 115 00:04:59,520 --> 00:05:01,320 Speaker 1: story and the relationship. 116 00:05:01,400 --> 00:05:02,160 Speaker 2: No, I haven't seen it. 117 00:05:02,240 --> 00:05:05,280 Speaker 3: I'm gonna go look now, well after the show. Obviously 118 00:05:05,560 --> 00:05:07,200 Speaker 3: you might kill me if I just bail to go 119 00:05:07,240 --> 00:05:07,800 Speaker 3: read posts. 120 00:05:08,320 --> 00:05:10,960 Speaker 1: See. Yeah, So, I think that's such a beautiful idea, 121 00:05:11,040 --> 00:05:13,040 Speaker 1: Like in a few months time, especially in Melbourne where 122 00:05:13,040 --> 00:05:15,159 Speaker 1: we can't really hang out right now, but together with 123 00:05:15,240 --> 00:05:17,920 Speaker 1: your best friends and all chat about your money stories 124 00:05:17,920 --> 00:05:19,800 Speaker 1: and goals and values. I think it's an awesome thing 125 00:05:19,800 --> 00:05:20,000 Speaker 1: to do. 126 00:05:20,360 --> 00:05:21,240 Speaker 2: One hundred percent. 127 00:05:21,360 --> 00:05:23,360 Speaker 3: Imagine if we could have She's on the Money morning 128 00:05:23,400 --> 00:05:25,839 Speaker 3: teats where we all just eat really cute snacks and 129 00:05:25,880 --> 00:05:27,560 Speaker 3: talk about money like that's my dream. 130 00:05:27,839 --> 00:05:29,719 Speaker 1: I think that would be huge. And I was on 131 00:05:29,760 --> 00:05:32,520 Speaker 1: the post as well. She's got the most gorgeous snacks there. 132 00:05:32,640 --> 00:05:34,520 Speaker 3: I'm looking at the picture now because you sent it. 133 00:05:34,520 --> 00:05:37,159 Speaker 3: It's also beautifully laid out as well. Are those SCons 134 00:05:37,200 --> 00:05:37,560 Speaker 3: with them? 135 00:05:37,560 --> 00:05:40,000 Speaker 2: And Crane? My gosh? All right here for this, Let's 136 00:05:40,000 --> 00:05:41,840 Speaker 2: move on before I go and get a snack, alright you. 137 00:05:41,960 --> 00:05:43,960 Speaker 1: So, now it's onto the main topic of today's show. 138 00:05:44,279 --> 00:05:45,960 Speaker 1: Where do we start when it comes to budgeting and 139 00:05:46,000 --> 00:05:48,280 Speaker 1: cash flow and how can it help us with our debt? 140 00:05:48,680 --> 00:05:51,640 Speaker 1: Recent research from you Bank revealed a whopping eighty six 141 00:05:51,680 --> 00:05:54,240 Speaker 1: percent of Australians don't know how much money they're spending 142 00:05:54,240 --> 00:05:56,960 Speaker 1: every month, and eighty two percent don't know their mortgage 143 00:05:57,000 --> 00:05:59,960 Speaker 1: rade either. Now, the majority of participants in this study, 144 00:06:00,000 --> 00:06:02,360 Speaker 1: we also cited that the reason that they weren't across 145 00:06:02,400 --> 00:06:04,719 Speaker 1: their spending was that it was just too hard to calculate, 146 00:06:04,960 --> 00:06:09,039 Speaker 1: which I empathize with as confession, guys, I don't have 147 00:06:09,080 --> 00:06:12,559 Speaker 1: a budget, don't really know how much I'm spending each month, 148 00:06:12,640 --> 00:06:15,279 Speaker 1: even though I do co host a finance podcast. 149 00:06:15,360 --> 00:06:19,680 Speaker 2: Please don't fire me, Victoria, I knew this already. G'odgicking. 150 00:06:20,000 --> 00:06:22,760 Speaker 1: So. The research also found that fifty nine percent of 151 00:06:22,760 --> 00:06:26,360 Speaker 1: Australians say their current financial situation causes some stress or 152 00:06:26,440 --> 00:06:29,360 Speaker 1: loss of sleep, and that nearly half of millennials forty 153 00:06:29,360 --> 00:06:33,040 Speaker 1: four percent to be exact, constantly worry about their financial future. 154 00:06:33,520 --> 00:06:36,120 Speaker 1: So Victoria, to kick us off today, let's start with 155 00:06:36,160 --> 00:06:39,320 Speaker 1: the basics. Can you please talk us through what budgeting 156 00:06:39,360 --> 00:06:42,760 Speaker 1: and what cash flow are, including the differences between the two, 157 00:06:42,760 --> 00:06:45,239 Speaker 1: because I didn't know before we kind of started chatting 158 00:06:45,279 --> 00:06:45,840 Speaker 1: about this show. 159 00:06:45,839 --> 00:06:48,520 Speaker 3: Today, Absolutely I can, and for those so if you've 160 00:06:48,600 --> 00:06:50,960 Speaker 3: done an hour of power with me or someone from 161 00:06:50,960 --> 00:06:51,479 Speaker 3: my team. 162 00:06:51,600 --> 00:06:52,799 Speaker 2: You know that I am. 163 00:06:52,680 --> 00:06:56,240 Speaker 3: Obsessed with budgeting cash flow because they are essentially the 164 00:06:56,279 --> 00:06:59,279 Speaker 3: bread and butter of creating financial freedom. If we have 165 00:06:59,320 --> 00:07:01,920 Speaker 3: a budget and have a cash flow, we're actually able 166 00:07:01,960 --> 00:07:05,360 Speaker 3: to create wealth. And without having that in place, it's 167 00:07:05,440 --> 00:07:07,880 Speaker 3: kind of like having a plan without a map and 168 00:07:07,920 --> 00:07:10,360 Speaker 3: without knowing where your final destination is or where we're 169 00:07:10,360 --> 00:07:13,680 Speaker 3: actually heading, So you could be heading towards camera instead 170 00:07:13,720 --> 00:07:16,240 Speaker 3: of heading towards you know, Adelaide, where you wanted to be. 171 00:07:16,680 --> 00:07:18,480 Speaker 3: For me, this is the thing that I want you 172 00:07:18,520 --> 00:07:21,720 Speaker 3: guys to understand the most, Like, yes, investing is important, 173 00:07:21,840 --> 00:07:25,760 Speaker 3: Yes saving is important, but without understanding what your budget 174 00:07:25,840 --> 00:07:28,280 Speaker 3: is and what your cash flow looks like, you don't 175 00:07:28,320 --> 00:07:31,000 Speaker 3: know how much you're allocating each and every single week 176 00:07:31,080 --> 00:07:34,560 Speaker 3: or month towards those goals. A cash flow and a 177 00:07:34,600 --> 00:07:37,040 Speaker 3: budget are two different things as well, which I think 178 00:07:37,120 --> 00:07:38,960 Speaker 3: people get a little bit confused about. 179 00:07:38,960 --> 00:07:39,960 Speaker 2: So let's start with budget. 180 00:07:40,120 --> 00:07:42,880 Speaker 3: I've spoken about it on the pod before, but this episode, 181 00:07:42,920 --> 00:07:46,520 Speaker 3: I am honestly so excited to talk about budgeting because 182 00:07:46,520 --> 00:07:48,920 Speaker 3: budgeting is absolutely not what a lot of people think 183 00:07:48,920 --> 00:07:51,720 Speaker 3: it is. So often people say, oh, I'm sorry, Victoria, 184 00:07:51,720 --> 00:07:52,240 Speaker 3: I can't do it. 185 00:07:52,240 --> 00:07:53,120 Speaker 2: I'm on a budget. 186 00:07:53,520 --> 00:07:56,840 Speaker 3: Like they treat a budget like a restrictive thing, it 187 00:07:56,920 --> 00:08:00,200 Speaker 3: is not a restrictive thing at all. It's actually a 188 00:08:00,280 --> 00:08:04,040 Speaker 3: document that helps you understand your money, what's coming in, 189 00:08:04,280 --> 00:08:07,120 Speaker 3: what's going out, where it's going, how it works, what 190 00:08:07,160 --> 00:08:09,960 Speaker 3: you actually spend your money on, so that you have 191 00:08:10,080 --> 00:08:12,800 Speaker 3: a tool to identify your income and expenses. 192 00:08:13,160 --> 00:08:13,760 Speaker 2: It's not to. 193 00:08:13,720 --> 00:08:16,520 Speaker 3: Say, okay, Victoria, I've done a budget and I'm only 194 00:08:16,520 --> 00:08:19,280 Speaker 3: going to be spending fifty dollars on groceries moving forward, 195 00:08:19,440 --> 00:08:22,680 Speaker 3: like that feels restrictive. How about we actually put in 196 00:08:22,720 --> 00:08:26,040 Speaker 3: place a budget that's actually reflective of your spending so 197 00:08:26,120 --> 00:08:28,640 Speaker 3: that you can live the life you want while also 198 00:08:28,680 --> 00:08:33,040 Speaker 3: being really reasonable about how much money you have coming in. So, Georgia, 199 00:08:33,080 --> 00:08:35,000 Speaker 3: a budget is going to really help to show you 200 00:08:35,080 --> 00:08:36,880 Speaker 3: if you are spending more or less than you can 201 00:08:36,920 --> 00:08:39,959 Speaker 3: actually afford, and it can help to determine your capacity 202 00:08:40,000 --> 00:08:42,920 Speaker 3: to save for future goals, which obviously I am a 203 00:08:43,080 --> 00:08:46,240 Speaker 3: massive fan of. When you have a budget, and I'm 204 00:08:46,240 --> 00:08:48,520 Speaker 3: going to rant about this so much this episode, so 205 00:08:48,600 --> 00:08:51,560 Speaker 3: I do apologize buckling, But when you have a budget, 206 00:08:51,600 --> 00:08:53,760 Speaker 3: you can see where you're spending your money and create 207 00:08:53,880 --> 00:08:56,439 Speaker 3: goals in line with your spending and your cash flow. 208 00:08:56,840 --> 00:08:58,880 Speaker 3: It is so easy to get disheartened if you set 209 00:08:58,920 --> 00:09:02,600 Speaker 3: a goal for yourself that is actually completely unachievable. And 210 00:09:02,679 --> 00:09:05,480 Speaker 3: an example of this is when I hear people saying, oh, 211 00:09:05,480 --> 00:09:07,840 Speaker 3: my gosh, Victoria, this year, I am going to save 212 00:09:07,960 --> 00:09:11,680 Speaker 3: ten thousand dollars, and I say, fantastic, that's so exciting, 213 00:09:11,800 --> 00:09:14,320 Speaker 3: really proud of you. Do you have eight hundred and 214 00:09:14,320 --> 00:09:18,400 Speaker 3: thirty three dollars per month to save? They go, no, okay, 215 00:09:18,480 --> 00:09:22,120 Speaker 3: no problems. So how are you planning on achieving that goal? 216 00:09:22,160 --> 00:09:24,760 Speaker 3: If you don't have the money to actually achieve that goal, 217 00:09:24,760 --> 00:09:26,880 Speaker 3: They're like, oh, I'll work it out later. I've been 218 00:09:26,920 --> 00:09:29,400 Speaker 3: saving as much as I possibly can. Like, it is 219 00:09:29,520 --> 00:09:32,320 Speaker 3: good to save as much as you possibly can, but 220 00:09:32,480 --> 00:09:35,400 Speaker 3: if you don't have an outcome that you're working towards, 221 00:09:35,720 --> 00:09:39,400 Speaker 3: with a tangible plan that you've worked backwards from, you're 222 00:09:39,480 --> 00:09:41,720 Speaker 3: not actually going to be able to achieve that goal. 223 00:09:42,000 --> 00:09:44,959 Speaker 3: And what happens when we don't achieve goals We feel upset, 224 00:09:45,000 --> 00:09:47,960 Speaker 3: we feel flat, we feel as though we aren't achieving things, 225 00:09:48,000 --> 00:09:51,840 Speaker 3: and we get this mentality, which is oh, I couldn't 226 00:09:51,920 --> 00:09:53,720 Speaker 3: do it. It's not that you can't do it, it's 227 00:09:53,800 --> 00:09:56,760 Speaker 3: that the goal you set yourself was unrealistic for your 228 00:09:56,800 --> 00:10:00,400 Speaker 3: cash flow and your personal situation. And what we actually 229 00:10:00,400 --> 00:10:02,720 Speaker 3: have to do is create goals that are in line 230 00:10:02,760 --> 00:10:06,360 Speaker 3: with your personal situation. You can save ten thousand dollars, 231 00:10:06,400 --> 00:10:09,440 Speaker 3: I promise you. It just might be on a larger timeframe, 232 00:10:09,520 --> 00:10:11,320 Speaker 3: and we need to account for that so that we 233 00:10:11,360 --> 00:10:13,360 Speaker 3: feel like we are actually achieving things. 234 00:10:14,000 --> 00:10:16,439 Speaker 1: I was going to ask you then about how it's 235 00:10:16,520 --> 00:10:19,360 Speaker 1: kind of like a diet, like if it's unsustainable, then 236 00:10:19,400 --> 00:10:22,160 Speaker 1: you're not exactly But with it, is it worth saying. 237 00:10:21,920 --> 00:10:23,200 Speaker 2: That it's exactly like a budget. 238 00:10:23,240 --> 00:10:25,280 Speaker 3: It's exactly like saying one day you wake up and 239 00:10:25,280 --> 00:10:28,320 Speaker 3: you're like, I'm going vegan. Like cool, I'm really excited 240 00:10:28,360 --> 00:10:31,160 Speaker 3: for you. But is it sustainable to go cold turkey 241 00:10:31,200 --> 00:10:34,079 Speaker 3: on something? Is it sustainable to commit to a crash diet? 242 00:10:34,200 --> 00:10:37,679 Speaker 3: Absolutely not. There is a reason people fall off the bandwagon. 243 00:10:38,080 --> 00:10:40,600 Speaker 3: What we need to do is actually create goals in 244 00:10:40,640 --> 00:10:44,440 Speaker 3: line with your lifestyle. Create a budget that is actually 245 00:10:44,520 --> 00:10:47,440 Speaker 3: reflective of what you're spending. Don't judge yourself, just put 246 00:10:47,440 --> 00:10:49,760 Speaker 3: it all down on a piece of paper and go awesome, 247 00:10:49,840 --> 00:10:52,440 Speaker 3: this is what I am spending. End of story. 248 00:10:52,520 --> 00:10:55,679 Speaker 2: It's just what I'm spending. And it gives you then. 249 00:10:55,640 --> 00:10:57,880 Speaker 3: Ability to reflect and say, well, is that actually what 250 00:10:57,920 --> 00:11:00,680 Speaker 3: I want to spend? Like it puts the in front 251 00:11:00,679 --> 00:11:02,760 Speaker 3: of you so that you can take time to consider 252 00:11:02,800 --> 00:11:05,600 Speaker 3: each of them. Maybe you are spending two hundred dollars 253 00:11:05,679 --> 00:11:09,960 Speaker 3: a week on groceries, but you're actually single and live alone. Well, 254 00:11:10,000 --> 00:11:12,640 Speaker 3: in that case, maybe you want to be spending less, 255 00:11:12,679 --> 00:11:15,160 Speaker 3: so you need to have a think about it. Instead 256 00:11:15,200 --> 00:11:18,080 Speaker 3: of just cutting that number in half, maybe have a 257 00:11:18,120 --> 00:11:21,079 Speaker 3: think of the strategy behind that. Why are you spending 258 00:11:21,080 --> 00:11:23,880 Speaker 3: two hundred dollars a week on groceries? Is it because 259 00:11:23,920 --> 00:11:27,559 Speaker 3: you love really fancy food and that's aligned to your values? Well, 260 00:11:27,600 --> 00:11:30,160 Speaker 3: maybe we look to save in other places so you 261 00:11:30,240 --> 00:11:33,440 Speaker 3: can continue the things that you love. Or maybe you 262 00:11:33,480 --> 00:11:35,560 Speaker 3: are just being a little bit lazy. Let's be honest 263 00:11:35,600 --> 00:11:37,800 Speaker 3: and buying takeaway all the time and that's where your 264 00:11:37,840 --> 00:11:39,680 Speaker 3: cash flow is going and you don't actually want to 265 00:11:39,720 --> 00:11:41,559 Speaker 3: do that, So we have to make a little change. 266 00:11:41,840 --> 00:11:45,520 Speaker 3: But small changes and small steps are still steps. 267 00:11:45,200 --> 00:11:46,000 Speaker 2: In the right direction. 268 00:11:46,120 --> 00:11:48,720 Speaker 3: And I think that when it comes to budgeting, it's 269 00:11:48,920 --> 00:11:50,680 Speaker 3: just so we know where we stand. 270 00:11:51,000 --> 00:11:53,040 Speaker 1: I feel like we'll talk about how to actually create 271 00:11:53,080 --> 00:11:57,880 Speaker 1: a budget in a little while, absolutely amazing. Before we 272 00:11:57,960 --> 00:11:59,600 Speaker 1: get there, can you talk to me a little bit 273 00:11:59,600 --> 00:12:01,200 Speaker 1: about cash flow means? 274 00:12:01,400 --> 00:12:06,079 Speaker 3: Okay, So cash flow is essentially the next step in budgeting. 275 00:12:06,200 --> 00:12:09,239 Speaker 3: So if we write down how much we are spending 276 00:12:09,280 --> 00:12:12,040 Speaker 3: and how much we are saving, and how much we 277 00:12:12,160 --> 00:12:14,719 Speaker 3: have coming in and out of our account, and if 278 00:12:14,720 --> 00:12:17,160 Speaker 3: you guys have listened to the first episode ever of 279 00:12:17,240 --> 00:12:19,720 Speaker 3: the She's on the Money podcast, I talk about these 280 00:12:19,720 --> 00:12:22,240 Speaker 3: four figures, which is earned, spend own, and oh and 281 00:12:22,280 --> 00:12:24,560 Speaker 3: those are the four figures that I always, always, always 282 00:12:24,600 --> 00:12:26,640 Speaker 3: want you to be in control of, because if you 283 00:12:26,679 --> 00:12:29,000 Speaker 3: know how much you earn, you know how much you spend, 284 00:12:29,200 --> 00:12:31,280 Speaker 3: you're going to know if you are actually spending in 285 00:12:31,280 --> 00:12:33,439 Speaker 3: line with your income or if you're spending more or 286 00:12:33,440 --> 00:12:35,720 Speaker 3: if you're spending less, and that will tell you how 287 00:12:35,800 --> 00:12:39,120 Speaker 3: much power you have to save and invest and then 288 00:12:39,200 --> 00:12:42,880 Speaker 3: your own and your O these figures, obviously we just 289 00:12:42,920 --> 00:12:45,400 Speaker 3: want to keep track of. At different periods in your life, 290 00:12:45,400 --> 00:12:47,679 Speaker 3: you're going to owe different amounts, Like you might get 291 00:12:47,720 --> 00:12:50,439 Speaker 3: a mortgage, so you owe a heap. But I think 292 00:12:50,480 --> 00:12:52,600 Speaker 3: it's important to work out when it comes to that, 293 00:12:52,760 --> 00:12:56,600 Speaker 3: like is that actually productive debt or is it personal 294 00:12:56,640 --> 00:12:59,280 Speaker 3: debt that you need to get out of asap? So 295 00:12:59,400 --> 00:13:02,720 Speaker 3: for me, cash flow is how your money flows through 296 00:13:02,760 --> 00:13:05,480 Speaker 3: your bank accounts. So where does it come into, where 297 00:13:05,480 --> 00:13:08,439 Speaker 3: does it go, how does it work, and how much 298 00:13:08,600 --> 00:13:11,360 Speaker 3: money do you have each and every single month left 299 00:13:11,440 --> 00:13:14,320 Speaker 3: over to create wealth with or to save or to 300 00:13:14,400 --> 00:13:17,440 Speaker 3: put towards debt reduction. So this is going to be 301 00:13:18,080 --> 00:13:20,000 Speaker 3: your power, and this is going to be the thing 302 00:13:20,040 --> 00:13:23,200 Speaker 3: that tells you how you can create wealth and how 303 00:13:23,240 --> 00:13:25,400 Speaker 3: you can get out of debt. But if you don't 304 00:13:25,400 --> 00:13:27,320 Speaker 3: know your cash flow and you don't know how much 305 00:13:27,320 --> 00:13:30,480 Speaker 3: you have left over, it's really hard because it will 306 00:13:30,520 --> 00:13:33,840 Speaker 3: always feel overwhelming. Because too many times do I see 307 00:13:33,840 --> 00:13:35,400 Speaker 3: people who come to me and they're like, bitru out. 308 00:13:35,400 --> 00:13:37,880 Speaker 3: I'm trying really hard to save and I put, you know, 309 00:13:37,960 --> 00:13:41,200 Speaker 3: five hundred dollars every single month into my savings account. 310 00:13:41,280 --> 00:13:42,920 Speaker 3: But then at the end of the month or when 311 00:13:42,960 --> 00:13:44,760 Speaker 3: the end of the month is coming, I go back 312 00:13:44,760 --> 00:13:46,720 Speaker 3: into my savings and I pull some money out because 313 00:13:46,760 --> 00:13:50,880 Speaker 3: I've got extra expenses. Well, that's obviously not sustainable. You're 314 00:13:50,880 --> 00:13:54,439 Speaker 3: not actually saving five hundred dollars a month. You've allocated 315 00:13:54,600 --> 00:13:56,920 Speaker 3: five hundred dollars to your savings, but you actually have 316 00:13:57,000 --> 00:13:59,360 Speaker 3: expenses that outweigh that. So we actually need to work 317 00:13:59,360 --> 00:14:02,400 Speaker 3: out what is reach to save and cashlow is going 318 00:14:02,440 --> 00:14:03,280 Speaker 3: to tell us that. 319 00:14:03,640 --> 00:14:05,600 Speaker 1: And I feel like you've kind of gone over it. 320 00:14:05,640 --> 00:14:07,920 Speaker 1: But why is it so important that we stay on 321 00:14:07,960 --> 00:14:09,440 Speaker 1: top of our budget and our cash flow? 322 00:14:09,559 --> 00:14:12,480 Speaker 3: Because if we are all creating budgets, we are all 323 00:14:12,520 --> 00:14:15,079 Speaker 3: putting ourselves in a position where we are making our 324 00:14:15,120 --> 00:14:17,880 Speaker 3: money work for us and we can feel in control. 325 00:14:17,960 --> 00:14:19,920 Speaker 3: We can be on top of our money story, we 326 00:14:19,960 --> 00:14:22,480 Speaker 3: can be on top of what's going to happen moving forward, 327 00:14:22,960 --> 00:14:25,400 Speaker 3: and it will help us avoid going into bad debt, 328 00:14:25,560 --> 00:14:27,760 Speaker 3: or if we are already in bad debt, it will 329 00:14:27,800 --> 00:14:30,320 Speaker 3: help us understand our power to get out of that 330 00:14:30,440 --> 00:14:32,680 Speaker 3: bad debt when we can do it, how we can 331 00:14:32,720 --> 00:14:34,480 Speaker 3: do it, and what that actually looks like. 332 00:14:35,280 --> 00:14:37,600 Speaker 1: So how do we actually set up a budget and 333 00:14:37,680 --> 00:14:38,840 Speaker 1: a cash flow system? 334 00:14:39,160 --> 00:14:42,280 Speaker 3: So there are so many different ways. I obviously have 335 00:14:42,400 --> 00:14:45,480 Speaker 3: my own way, Georgia, and I'm pretty passionate about it 336 00:14:45,520 --> 00:14:47,840 Speaker 3: in the She's on the money Facebook group and I'll 337 00:14:47,880 --> 00:14:50,920 Speaker 3: probably link it below too. We actually have a budget 338 00:14:51,200 --> 00:14:53,400 Speaker 3: that you guys can use to fill in so that 339 00:14:53,480 --> 00:14:57,960 Speaker 3: you understand your spending. But also excitingly, obviously to plug 340 00:14:58,000 --> 00:15:00,480 Speaker 3: my own product to Georgia the start of octom we 341 00:15:00,520 --> 00:15:00,920 Speaker 3: have a. 342 00:15:00,880 --> 00:15:02,000 Speaker 2: Budgeting and cash flow. 343 00:15:02,000 --> 00:15:05,320 Speaker 3: She's on the money course coming out, which honestly, I 344 00:15:05,320 --> 00:15:07,400 Speaker 3: can see you dancing on the screen like you could 345 00:15:07,600 --> 00:15:12,280 Speaker 3: maybe vocalize this. This is a podcast, no interrupt. We've 346 00:15:12,320 --> 00:15:15,240 Speaker 3: got a course coming out which I'm so excited for. 347 00:15:15,360 --> 00:15:18,280 Speaker 3: I did two full days of filming videos for this. 348 00:15:18,640 --> 00:15:21,640 Speaker 3: I've tried to absolutely jam pack it full of value 349 00:15:22,120 --> 00:15:24,000 Speaker 3: so that when you watch it and when you go 350 00:15:24,120 --> 00:15:27,240 Speaker 3: through it, it's meat holding your hand throughout the entire thing. 351 00:15:27,320 --> 00:15:30,240 Speaker 3: To get your budget done, then get your cash flow done, 352 00:15:30,360 --> 00:15:32,440 Speaker 3: then go through your goals, and then set all of 353 00:15:32,480 --> 00:15:34,880 Speaker 3: those up so that you can achieve success. And honestly, 354 00:15:35,160 --> 00:15:38,040 Speaker 3: I couldn't be more excited about that. But in saying 355 00:15:38,080 --> 00:15:40,400 Speaker 3: that a budget is what you want to make it, 356 00:15:40,760 --> 00:15:43,080 Speaker 3: so it could be on the back of an envelope, 357 00:15:43,160 --> 00:15:45,480 Speaker 3: I really don't mind. It is whatever works for you. 358 00:15:45,680 --> 00:15:48,520 Speaker 3: Some people use apps, some people like to sit down 359 00:15:48,560 --> 00:15:50,760 Speaker 3: and write it in a notebook. Some people like to 360 00:15:50,840 --> 00:15:54,520 Speaker 3: use a spreadsheet. There are so many different ways, but essentially, 361 00:15:54,520 --> 00:15:57,040 Speaker 3: a budget is going to include a list of all 362 00:15:57,120 --> 00:16:00,320 Speaker 3: of your expenses broken down, all of your in come 363 00:16:00,320 --> 00:16:03,840 Speaker 3: broken down, and then how that weighs out at the 364 00:16:04,000 --> 00:16:07,400 Speaker 3: end of the year. Now I work in my budgets 365 00:16:07,480 --> 00:16:11,040 Speaker 3: to a final average annual goal because I feel like 366 00:16:11,200 --> 00:16:14,920 Speaker 3: that's more motivating knowing entirely what you can save in 367 00:16:14,960 --> 00:16:17,240 Speaker 3: a twelve month period, as opposed to, Oh, you can 368 00:16:17,280 --> 00:16:19,960 Speaker 3: save eight hundred and thirty three dollars a month, you go, okay, 369 00:16:20,040 --> 00:16:22,600 Speaker 3: like that's not enough to achieve my goal, Whereas if 370 00:16:22,640 --> 00:16:24,520 Speaker 3: I say, Georgia eight hundred and thirty three dollars a 371 00:16:24,560 --> 00:16:27,480 Speaker 3: month is ten thousand dollars in your savings, you are 372 00:16:27,560 --> 00:16:29,600 Speaker 3: more likely to commit to that when you can see 373 00:16:29,640 --> 00:16:32,920 Speaker 3: the bigger goal. So it creates short term motivation and 374 00:16:33,040 --> 00:16:34,520 Speaker 3: long term commitment for me. 375 00:16:34,760 --> 00:16:36,880 Speaker 1: Sorry, B so you said your course is coming out 376 00:16:36,880 --> 00:16:37,480 Speaker 1: in October. 377 00:16:37,520 --> 00:16:38,680 Speaker 2: Just to recap it is. 378 00:16:38,840 --> 00:16:40,320 Speaker 3: I mean, we're not meant to be plugging this, but 379 00:16:40,360 --> 00:16:42,960 Speaker 3: I'm actually so excited about it. I have spent honestly, 380 00:16:43,120 --> 00:16:46,720 Speaker 3: probably thirty hours over the last three days trying to 381 00:16:46,720 --> 00:16:49,160 Speaker 3: make the online core system work. I promise you it 382 00:16:49,280 --> 00:16:51,040 Speaker 3: is now stunning. 383 00:16:51,520 --> 00:16:52,800 Speaker 1: And that is what matters. 384 00:16:53,200 --> 00:16:55,440 Speaker 2: I'm biased, though not at all. 385 00:16:56,000 --> 00:16:58,040 Speaker 1: How would you say, we can use a budgeting and 386 00:16:58,080 --> 00:17:00,000 Speaker 1: cash flow system to help get us out of debt, 387 00:17:00,360 --> 00:17:02,000 Speaker 1: which we know is a huge issue right now. 388 00:17:02,040 --> 00:17:04,560 Speaker 3: Obviously, look it's a massive issue now, but it's been 389 00:17:04,600 --> 00:17:08,040 Speaker 3: a massive issue for years and years and years. And essentially, 390 00:17:08,080 --> 00:17:10,280 Speaker 3: if you are in debt, stop judging yourself. Like, I 391 00:17:10,320 --> 00:17:12,600 Speaker 3: know that that sounds really flippant, but I know that 392 00:17:12,680 --> 00:17:14,840 Speaker 3: debt can carry a lot of stigma, and it can 393 00:17:14,920 --> 00:17:17,119 Speaker 3: carry a lot of guilt, and you feel bad and 394 00:17:17,160 --> 00:17:18,800 Speaker 3: you maybe don't want to tell your friends or a 395 00:17:18,880 --> 00:17:19,680 Speaker 3: family about it. 396 00:17:19,760 --> 00:17:20,760 Speaker 2: You don't have to do that. 397 00:17:21,040 --> 00:17:22,600 Speaker 3: But the one thing I want you to do if 398 00:17:22,640 --> 00:17:25,720 Speaker 3: you are in debt is stop feeling bad about it, because. 399 00:17:25,440 --> 00:17:27,359 Speaker 2: It doesn't help you at all. 400 00:17:27,480 --> 00:17:30,040 Speaker 3: It does not help you in the slightest to feel 401 00:17:30,040 --> 00:17:33,800 Speaker 3: guilty about this. And Georgia, I work literally every week 402 00:17:33,840 --> 00:17:37,119 Speaker 3: with people in large amounts of debt, and we do 403 00:17:37,240 --> 00:17:39,719 Speaker 3: these cash flow systems and we talk about budgeting, and 404 00:17:39,760 --> 00:17:43,040 Speaker 3: it is honestly the same thing every single time we 405 00:17:43,119 --> 00:17:45,440 Speaker 3: sit down and I say why haven't you done this before? 406 00:17:45,520 --> 00:17:47,560 Speaker 3: Like you know, why now? And they just say, feel 407 00:17:47,560 --> 00:17:50,000 Speaker 3: really overwhelmed. I've never wanted to tackle it head on, 408 00:17:50,160 --> 00:17:52,960 Speaker 3: and now I am, and I say, okay, no problems. 409 00:17:53,000 --> 00:17:54,760 Speaker 3: And by the end of the session, and we have 410 00:17:54,800 --> 00:17:56,720 Speaker 3: a clear budget and we have a clear cash flow, 411 00:17:56,760 --> 00:17:59,520 Speaker 3: and we have a plan, and we can articulate okay, 412 00:18:00,320 --> 00:18:02,959 Speaker 3: by the end of twenty twenty one, that person is 413 00:18:03,000 --> 00:18:04,840 Speaker 3: going to be out of debt. She will make her 414 00:18:04,920 --> 00:18:07,680 Speaker 3: final payment at the start of November twenty twenty one, 415 00:18:07,720 --> 00:18:10,199 Speaker 3: and that will be it. That is so motivating, and 416 00:18:10,240 --> 00:18:14,200 Speaker 3: that clarity is going to help you immensely, both obviously 417 00:18:14,280 --> 00:18:16,679 Speaker 3: and getting out of debt, but also mentally, and to 418 00:18:16,720 --> 00:18:21,240 Speaker 3: me that is so so important. So for me, budgeting 419 00:18:21,240 --> 00:18:23,639 Speaker 3: in cashlow one helps you get out of debt because 420 00:18:23,640 --> 00:18:25,920 Speaker 3: we can work out your power and we can actually 421 00:18:25,960 --> 00:18:28,359 Speaker 3: go all right, cool, if you pulled the reins in 422 00:18:28,400 --> 00:18:30,760 Speaker 3: a little bit on this spending for the next six months, 423 00:18:30,800 --> 00:18:33,200 Speaker 3: will be out of debt quicker. And the same goes 424 00:18:33,240 --> 00:18:35,800 Speaker 3: for every type of debt, right Georgia, Like it could 425 00:18:35,880 --> 00:18:39,400 Speaker 3: be your mortgage and working out how to get out 426 00:18:39,440 --> 00:18:42,480 Speaker 3: of debt with that, because you know, obviously your mortgage 427 00:18:42,520 --> 00:18:45,280 Speaker 3: is often a thirty year plan, but working out what 428 00:18:45,320 --> 00:18:48,159 Speaker 3: your repayments look like and maybe working out how much 429 00:18:48,240 --> 00:18:51,439 Speaker 3: additional you can contribute to that each month, maybe wipe 430 00:18:51,560 --> 00:18:54,040 Speaker 3: literally years off your mortgage though that you're out of 431 00:18:54,080 --> 00:18:57,479 Speaker 3: debt sooner and that money can be used to create wealth. 432 00:18:58,000 --> 00:18:59,200 Speaker 2: And I think I said this to you. 433 00:18:59,160 --> 00:19:01,960 Speaker 3: Georgia when we'll playing the episode and talking about the 434 00:19:02,000 --> 00:19:04,479 Speaker 3: things that I really wanted to share on this EPP. 435 00:19:04,920 --> 00:19:06,879 Speaker 3: I really wanted to point out that if you're in 436 00:19:06,960 --> 00:19:10,840 Speaker 3: debt and you're paying off that debt, that is so exciting, 437 00:19:10,960 --> 00:19:13,240 Speaker 3: one because you're getting out of debt, but two because 438 00:19:13,280 --> 00:19:16,879 Speaker 3: you're creating these positive habits for yourself. You are putting 439 00:19:16,960 --> 00:19:20,040 Speaker 3: yourself in a position where you are proving to yourself 440 00:19:20,320 --> 00:19:22,960 Speaker 3: that each and every single month you can contribute a 441 00:19:23,000 --> 00:19:25,480 Speaker 3: certain amount to that debt and you know what, when 442 00:19:25,520 --> 00:19:28,000 Speaker 3: it's done, and when the debt is over, you then 443 00:19:28,080 --> 00:19:30,840 Speaker 3: have that amount of money to create wealth. So back 444 00:19:30,880 --> 00:19:33,200 Speaker 3: to our ten thousand dollar example, if you're in ten 445 00:19:33,240 --> 00:19:35,760 Speaker 3: thousand dollars worth of debt and you're paying it off 446 00:19:35,760 --> 00:19:38,600 Speaker 3: at eight hundred and thirty three dollars a month, continue 447 00:19:38,600 --> 00:19:41,080 Speaker 3: that the year after, and you now have ten thousand 448 00:19:41,119 --> 00:19:44,399 Speaker 3: dollars worth of savings or ten thousand dollars in an investment, 449 00:19:44,600 --> 00:19:47,360 Speaker 3: and to me, that's so exciting. So for me, look 450 00:19:47,359 --> 00:19:49,960 Speaker 3: at your getting out of debt process as a process 451 00:19:50,160 --> 00:19:53,080 Speaker 3: that you are proving to yourself that you can create wealth. 452 00:19:53,280 --> 00:19:56,280 Speaker 3: It's like the trial run, it's like the practice. It's saying, Okay, 453 00:19:56,320 --> 00:19:58,880 Speaker 3: well I did that, why can't I create wealth after this? 454 00:19:59,119 --> 00:20:01,240 Speaker 3: I don't have to be in debt anymore. This doesn't 455 00:20:01,240 --> 00:20:03,160 Speaker 3: have to be a cycle for me. And it's an 456 00:20:03,160 --> 00:20:06,000 Speaker 3: active choice to essentially not put your heads in the 457 00:20:06,080 --> 00:20:09,359 Speaker 3: sand about it and instead feel really empowered about it. 458 00:20:09,680 --> 00:20:12,359 Speaker 1: As you said, there's a lot of shame that comes 459 00:20:12,359 --> 00:20:14,280 Speaker 1: with having debt, I think, and we just need to 460 00:20:14,320 --> 00:20:16,920 Speaker 1: get rid of that shame so you can face it head. 461 00:20:16,760 --> 00:20:18,199 Speaker 2: On, right, absolutely, Georgia. 462 00:20:18,200 --> 00:20:20,800 Speaker 3: And there's only one thing that personal debt means, and 463 00:20:20,800 --> 00:20:22,640 Speaker 3: that just means that you've spent more than you've earnt. 464 00:20:22,840 --> 00:20:23,240 Speaker 2: That's it. 465 00:20:23,240 --> 00:20:25,119 Speaker 3: It doesn't make you a bad person, it doesn't make 466 00:20:25,160 --> 00:20:27,280 Speaker 3: you silly, it doesn't make you dumb, it doesn't mean 467 00:20:27,320 --> 00:20:29,280 Speaker 3: that you are less than in which I hear all 468 00:20:29,320 --> 00:20:32,960 Speaker 3: the time. It literally just means you have spent more 469 00:20:32,960 --> 00:20:35,240 Speaker 3: than you have earned. And now we just need to 470 00:20:35,280 --> 00:20:37,639 Speaker 3: rectify that. We need to pay back that surplus that 471 00:20:37,680 --> 00:20:40,760 Speaker 3: you've overspent by and then we can create wealth and 472 00:20:40,840 --> 00:20:42,840 Speaker 3: we can actually have a budget and cash flow system 473 00:20:42,840 --> 00:20:45,040 Speaker 3: that puts us in a place of power so that 474 00:20:45,119 --> 00:20:48,040 Speaker 3: we feel like we can achieve everything because we actually 475 00:20:48,080 --> 00:20:50,560 Speaker 3: are able to achieve everything we set our minds to. 476 00:20:51,760 --> 00:20:53,679 Speaker 1: And just because you're in twenty k of debt now, 477 00:20:53,680 --> 00:20:55,480 Speaker 1: it doesn't mean you will be forever. Like there's so 478 00:20:55,520 --> 00:20:57,560 Speaker 1: many things we can do to get you out of 479 00:20:57,560 --> 00:21:00,960 Speaker 1: that debt, which leads me to my next question, Victoria. Yes, 480 00:21:01,359 --> 00:21:04,880 Speaker 1: we know the snowball and the avalanche theories from old 481 00:21:05,240 --> 00:21:08,679 Speaker 1: Dave Ramsey. Yes, what other methods are there that we 482 00:21:08,680 --> 00:21:10,840 Speaker 1: can use to get out of debt? What little hacks? 483 00:21:10,840 --> 00:21:14,320 Speaker 3: So there are a fair few other little hacks. Obviously, 484 00:21:14,400 --> 00:21:16,879 Speaker 3: making sure that you're looking at your debt, having a 485 00:21:16,920 --> 00:21:19,880 Speaker 3: look at whether your interest rate is too high. If 486 00:21:19,880 --> 00:21:22,000 Speaker 3: you're in a massive amount of credit card debt, I 487 00:21:22,000 --> 00:21:24,760 Speaker 3: would genuinely be having a look at whether you need 488 00:21:24,800 --> 00:21:28,119 Speaker 3: to consolidate your debt into a personal loan, because it 489 00:21:28,160 --> 00:21:30,440 Speaker 3: could take you a really long time to get out 490 00:21:30,520 --> 00:21:32,480 Speaker 3: of that, And if you're going to be in debt 491 00:21:32,520 --> 00:21:35,080 Speaker 3: for a couple of more years, getting out of a 492 00:21:35,119 --> 00:21:37,960 Speaker 3: credit card debt, then I would be looking at consolidating 493 00:21:38,000 --> 00:21:41,120 Speaker 3: it into a personal loan, which will most likely have 494 00:21:41,240 --> 00:21:44,359 Speaker 3: a lower interest. Right, But that's not available for everybody 495 00:21:44,359 --> 00:21:47,119 Speaker 3: because some debts can't be consolidated because they just are 496 00:21:47,119 --> 00:21:49,160 Speaker 3: simply too much and you just need to buckle down 497 00:21:49,200 --> 00:21:51,639 Speaker 3: and get it done. Something that I do see a 498 00:21:51,680 --> 00:21:54,119 Speaker 3: lot of people doing is getting a side hustle or 499 00:21:54,160 --> 00:21:57,520 Speaker 3: earning a little more to supplement your primary income. It 500 00:21:57,560 --> 00:21:59,920 Speaker 3: could be an extra shift at work, it could be, 501 00:22:00,080 --> 00:22:02,960 Speaker 3: you know, an online survey that you're doing. It could 502 00:22:02,960 --> 00:22:05,720 Speaker 3: be you know, obviously during COVID, this isn't as good. 503 00:22:05,760 --> 00:22:08,400 Speaker 3: I've got clients who went and got Uber and started 504 00:22:08,400 --> 00:22:10,960 Speaker 3: being Uber drivers so that they could smash down their 505 00:22:11,000 --> 00:22:14,280 Speaker 3: debt because any additional income that you are bringing in 506 00:22:14,520 --> 00:22:17,240 Speaker 3: can go straight to debt because it's not your primary income, 507 00:22:17,280 --> 00:22:19,760 Speaker 3: which is super exciting. So if you know you're bringing 508 00:22:19,800 --> 00:22:23,240 Speaker 3: an extra one hundred dollars each time you do something, also, 509 00:22:23,320 --> 00:22:26,000 Speaker 3: that's one hundred dollars off your debt, and that's really exciting. 510 00:22:26,520 --> 00:22:29,639 Speaker 3: I think that spending less and making compromises in another 511 00:22:29,680 --> 00:22:32,280 Speaker 3: way is also a really good, but really obvious one 512 00:22:32,560 --> 00:22:35,680 Speaker 3: these could be temporary changes so that you can get 513 00:22:35,760 --> 00:22:38,080 Speaker 3: out of debt quicker. If you've got a sixty five 514 00:22:38,119 --> 00:22:40,640 Speaker 3: dollars a week gym membership but you're trying to get 515 00:22:40,640 --> 00:22:43,320 Speaker 3: out of debt, maybe you could suspend it until you're 516 00:22:43,359 --> 00:22:45,399 Speaker 3: out of debt so that you can really make the 517 00:22:45,400 --> 00:22:48,520 Speaker 3: most of your cash flow and really allocate it towards that, 518 00:22:48,800 --> 00:22:50,560 Speaker 3: and then once you're out of debt, go back to 519 00:22:50,600 --> 00:22:53,320 Speaker 3: the things that you love. I think that it's important 520 00:22:53,320 --> 00:22:56,520 Speaker 3: to remember that, you know, compromise doesn't have to be forever. 521 00:22:56,720 --> 00:22:58,960 Speaker 3: It can be for a short period of time. We 522 00:22:59,040 --> 00:23:01,960 Speaker 3: can compromise something for the short term, like not having 523 00:23:01,960 --> 00:23:05,240 Speaker 3: Netflix and Stand, so that we can allocate those funds 524 00:23:05,280 --> 00:23:07,600 Speaker 3: to something different. And I think that that's a really 525 00:23:07,600 --> 00:23:10,440 Speaker 3: good point for this point in time as well, Georgia. 526 00:23:10,560 --> 00:23:14,080 Speaker 3: So it's more about saying, Okay, cool, we're all going 527 00:23:14,119 --> 00:23:17,920 Speaker 3: through this absolute mess of COVID and we're not sure 528 00:23:17,960 --> 00:23:21,160 Speaker 3: what's going on with our finances. What can we compromise 529 00:23:21,200 --> 00:23:23,440 Speaker 3: in the short term so that we can be successful 530 00:23:23,480 --> 00:23:25,800 Speaker 3: in the long term and maybe breathe a little bit easier. 531 00:23:25,920 --> 00:23:27,960 Speaker 3: Maybe you don't need Netflix and Stand, Maybe you don't 532 00:23:27,960 --> 00:23:30,720 Speaker 3: need your Spotify account. Maybe you've got some subscriptions that 533 00:23:30,800 --> 00:23:33,920 Speaker 3: you can just spend temporarily so that you can increase 534 00:23:33,960 --> 00:23:36,560 Speaker 3: your cash flow during a time where money is tight, 535 00:23:36,920 --> 00:23:38,680 Speaker 3: and we can go back to it later. So it's 536 00:23:38,720 --> 00:23:40,520 Speaker 3: not saying get rid of it you don't need it, 537 00:23:40,600 --> 00:23:43,640 Speaker 3: saying okay, well maybe not right now. And another good 538 00:23:43,640 --> 00:23:46,080 Speaker 3: one is to make the most of amazing apps out there. 539 00:23:46,840 --> 00:23:48,840 Speaker 3: And I know that this is a sponsored episode, but 540 00:23:48,880 --> 00:23:51,440 Speaker 3: I kid you not when I say that my favorite 541 00:23:51,480 --> 00:23:54,399 Speaker 3: app at the moment is an app called Wiser. And 542 00:23:54,440 --> 00:23:56,199 Speaker 3: I know that not a heap of people are going 543 00:23:56,240 --> 00:23:58,560 Speaker 3: to have heard of this before, but I do know 544 00:23:58,640 --> 00:24:00,960 Speaker 3: that there are a fair few peas in our community 545 00:24:01,080 --> 00:24:04,080 Speaker 3: using it. And if you guys love roundup apps like 546 00:24:04,119 --> 00:24:07,400 Speaker 3: I obviously do, I use Rais, I also use shop back, 547 00:24:07,440 --> 00:24:10,520 Speaker 3: and you've heard me talk about these guys before. Wiser 548 00:24:11,040 --> 00:24:13,399 Speaker 3: is exactly like those. It is a roundup app that 549 00:24:13,480 --> 00:24:16,399 Speaker 3: takes your spare change and actually puts it towards paying 550 00:24:16,400 --> 00:24:19,200 Speaker 3: off your debt. Like how good is that? I can't 551 00:24:19,240 --> 00:24:21,439 Speaker 3: think of a better use for a roundup app for 552 00:24:21,560 --> 00:24:25,200 Speaker 3: people in debt, Like every single transaction that you have 553 00:24:25,520 --> 00:24:28,000 Speaker 3: is contributing to you paying down debt. Now, I don't 554 00:24:28,000 --> 00:24:29,879 Speaker 3: mean to say go and transact more so that you 555 00:24:29,880 --> 00:24:31,639 Speaker 3: can put more money towards your debt, But I just 556 00:24:31,720 --> 00:24:35,879 Speaker 3: think it's cool that your everyday expenses and your roundups 557 00:24:35,920 --> 00:24:38,760 Speaker 3: and buying dinner will mean that you actually save money. 558 00:24:39,000 --> 00:24:41,200 Speaker 3: But we're obviously going to have a plug about them later. 559 00:24:41,320 --> 00:24:44,960 Speaker 3: But honestly, there are apps out there. You can use 560 00:24:45,000 --> 00:24:47,600 Speaker 3: budgeting apps, you can use cash flow apps, and then 561 00:24:47,640 --> 00:24:51,200 Speaker 3: apps like Wiser. Honestly, if you start looking, you'll find 562 00:24:51,320 --> 00:24:53,560 Speaker 3: things that actually help you in a really constructive but 563 00:24:53,640 --> 00:24:54,680 Speaker 3: really motivating way. 564 00:24:54,840 --> 00:24:58,040 Speaker 1: Okay, well, obviously you're a fan of Wiser. But if 565 00:24:58,080 --> 00:25:00,399 Speaker 1: our listeners had to take it just one thing away 566 00:25:00,440 --> 00:25:02,400 Speaker 1: from today's show, what do you think it would be. 567 00:25:02,560 --> 00:25:05,240 Speaker 3: Obviously, budgeting in cash flow is really important. I want 568 00:25:05,280 --> 00:25:07,439 Speaker 3: every single one of you to have a budget and 569 00:25:07,600 --> 00:25:08,760 Speaker 3: have a cash flow plan. 570 00:25:09,200 --> 00:25:10,879 Speaker 2: But I think the one thing that I want. 571 00:25:10,760 --> 00:25:13,080 Speaker 3: People to get out of this episode is that if 572 00:25:13,080 --> 00:25:15,919 Speaker 3: you're in debt, stop beating yourself up about it and 573 00:25:16,320 --> 00:25:18,640 Speaker 3: work out what you can do about it. There are 574 00:25:18,680 --> 00:25:23,000 Speaker 3: so many resources and plans and budgets and apps and 575 00:25:23,080 --> 00:25:26,480 Speaker 3: things out there and people that actually help you and 576 00:25:26,560 --> 00:25:28,919 Speaker 3: that are there and that are on your team that 577 00:25:28,960 --> 00:25:31,439 Speaker 3: are going to get you out of this position. You 578 00:25:31,480 --> 00:25:33,800 Speaker 3: don't actually have to do it alone. So for me, 579 00:25:34,000 --> 00:25:36,560 Speaker 3: it would be one have a budget and actually take 580 00:25:36,640 --> 00:25:39,600 Speaker 3: charge of that. You'll feel incredibly empowered, I promise. But 581 00:25:39,720 --> 00:25:40,880 Speaker 3: then too, know. 582 00:25:40,880 --> 00:25:43,080 Speaker 2: That if you are in a situation where you are in. 583 00:25:43,080 --> 00:25:45,120 Speaker 3: Debt, there are people that can help you, and there 584 00:25:45,119 --> 00:25:48,400 Speaker 3: are people that are genuinely so excited about doing that, 585 00:25:48,600 --> 00:25:50,640 Speaker 3: and they're not there to judge you. They're just there 586 00:25:50,640 --> 00:25:52,720 Speaker 3: to get you in a better position because they get 587 00:25:52,760 --> 00:25:54,760 Speaker 3: a whole heap of gratification out of that. 588 00:25:54,840 --> 00:26:00,840 Speaker 2: I promise you've breached that. 589 00:26:00,920 --> 00:26:02,840 Speaker 1: She is on the Money mailbox. Do you have a 590 00:26:02,840 --> 00:26:04,760 Speaker 1: money problem you want help solving. Do you have a 591 00:26:04,760 --> 00:26:07,840 Speaker 1: money dilemma you just want to chat about? Victoria is 592 00:26:07,880 --> 00:26:10,800 Speaker 1: here to help. Every week we'll be playing your questions 593 00:26:10,800 --> 00:26:12,439 Speaker 1: to help make sense of a money mess you may 594 00:26:12,440 --> 00:26:14,719 Speaker 1: have found yourself in. Make a quick recording on your 595 00:26:14,720 --> 00:26:16,920 Speaker 1: phone and send it through to podcasts at She is 596 00:26:16,960 --> 00:26:18,720 Speaker 1: on the Money dot com dot au and you might 597 00:26:18,760 --> 00:26:21,160 Speaker 1: even find yourself on the show. But for now, here's 598 00:26:21,160 --> 00:26:22,240 Speaker 1: today's listener question. 599 00:26:23,080 --> 00:26:26,280 Speaker 4: Hello, lovely ladies, I just have a quick one for you, 600 00:26:27,200 --> 00:26:30,119 Speaker 4: so I think lucky enough to get a promotion at 601 00:26:30,119 --> 00:26:33,399 Speaker 4: work and we'll be earning twenty five thousand dollars more 602 00:26:33,480 --> 00:26:36,639 Speaker 4: than I was in my previous role, which is, I know, 603 00:26:36,880 --> 00:26:41,199 Speaker 4: pretty exciting. But I'm actually pretty conscious of not falling 604 00:26:41,200 --> 00:26:45,200 Speaker 4: into the habits of lifestyle creep because since listening to 605 00:26:45,240 --> 00:26:48,160 Speaker 4: the podcast and joining me she's on the money Facebook group, 606 00:26:48,560 --> 00:26:51,520 Speaker 4: I've become really conscious of my spending and I've been 607 00:26:51,520 --> 00:26:54,720 Speaker 4: getting my savings together and taking control of my finances. 608 00:26:55,720 --> 00:26:58,600 Speaker 4: So I'm just wondering if you have any i don't know, 609 00:26:58,680 --> 00:27:01,560 Speaker 4: budgeting tips or even words of wisdom to kind of 610 00:27:01,600 --> 00:27:03,679 Speaker 4: help me make the most of this extra money and 611 00:27:03,720 --> 00:27:06,680 Speaker 4: manage it, because I definitely don't want to be wasting it. 612 00:27:07,640 --> 00:27:07,960 Speaker 2: Thanks. 613 00:27:08,400 --> 00:27:12,480 Speaker 1: Hey, Okay, Victoria, So how does she avoid falling victim 614 00:27:12,520 --> 00:27:13,320 Speaker 1: to lifestyle greep? 615 00:27:13,960 --> 00:27:17,680 Speaker 3: I really like this question because I get so excited. Obviously, 616 00:27:17,760 --> 00:27:22,080 Speaker 3: that's a massive increase in her salary, Like congratulations, that's honestly, 617 00:27:22,119 --> 00:27:26,600 Speaker 3: it's so incredible, exactly, like actually amazing. But I feel 618 00:27:26,600 --> 00:27:28,960 Speaker 3: like this is such a common one and it's so 619 00:27:29,320 --> 00:27:32,680 Speaker 3: easy to see that twenty five thousand dollars as all right, cool, 620 00:27:32,720 --> 00:27:34,360 Speaker 3: I can get a new car I can do this. 621 00:27:34,520 --> 00:27:35,119 Speaker 3: I can do that. 622 00:27:35,760 --> 00:27:36,080 Speaker 2: For me. 623 00:27:36,600 --> 00:27:39,560 Speaker 3: The important thing is before you even get a promotion, 624 00:27:39,720 --> 00:27:42,399 Speaker 3: before you even increase the amount of money that you have, 625 00:27:42,880 --> 00:27:45,480 Speaker 3: is to have a reasonable budget and cash flow planning place. 626 00:27:45,480 --> 00:27:47,119 Speaker 3: And I know that I jump up and down about 627 00:27:47,119 --> 00:27:49,879 Speaker 3: this all the time, but that is your power. Because 628 00:27:49,880 --> 00:27:52,480 Speaker 3: if you've got your cash flow plan and you know 629 00:27:52,640 --> 00:27:55,880 Speaker 3: that your expenses are you know, maybe sixteen thousand dollars 630 00:27:55,960 --> 00:27:58,199 Speaker 3: a year, and in your personal spending, you're spending you know, 631 00:27:58,240 --> 00:28:01,160 Speaker 3: maybe like two hundred and fifty dollars away, I think 632 00:28:01,200 --> 00:28:04,240 Speaker 3: it's really important to then say, okay, no problems. Now 633 00:28:04,240 --> 00:28:06,720 Speaker 3: I have an additional twenty five thousand dollars coming in. 634 00:28:07,000 --> 00:28:10,040 Speaker 3: Well maybe not obviously tax, super whatever else, but let's 635 00:28:10,080 --> 00:28:11,840 Speaker 3: just say it's twenty five thousand coming in. 636 00:28:12,400 --> 00:28:12,840 Speaker 2: Awesome. 637 00:28:13,160 --> 00:28:15,560 Speaker 3: How am I going to allocate that to my pre 638 00:28:15,680 --> 00:28:19,199 Speaker 3: existing goals to turbocharge them if that makes sense. So 639 00:28:19,280 --> 00:28:22,040 Speaker 3: instead of you know, achieving that goal in three years, 640 00:28:22,080 --> 00:28:24,480 Speaker 3: maybe you'll achieve it in one because you've obviously got 641 00:28:24,520 --> 00:28:27,920 Speaker 3: so much more to save. So for me, it's important 642 00:28:28,000 --> 00:28:30,119 Speaker 3: to have a list of goals. It's important to have 643 00:28:30,160 --> 00:28:33,120 Speaker 3: a cash flow and budgeting system that works for you. 644 00:28:33,200 --> 00:28:34,800 Speaker 3: As I said, I don't care how you do it, 645 00:28:34,840 --> 00:28:37,520 Speaker 3: as long as you are doing it so that when 646 00:28:37,520 --> 00:28:40,000 Speaker 3: a new amount of money actually comes into your account, 647 00:28:40,040 --> 00:28:42,479 Speaker 3: you've already got goals that can be allocated too, and 648 00:28:42,520 --> 00:28:45,080 Speaker 3: all you do is update how much you're allocating towards 649 00:28:45,080 --> 00:28:47,719 Speaker 3: that goal each month, a week, or fortnite or however 650 00:28:47,760 --> 00:28:49,000 Speaker 3: often you're contributing. 651 00:28:49,400 --> 00:28:52,760 Speaker 2: So for me, my biggest tip would actually be. 652 00:28:53,040 --> 00:28:55,240 Speaker 3: Sit down and make a budget, make a plan, work 653 00:28:55,280 --> 00:28:57,800 Speaker 3: out how much you want to save, because otherwise it 654 00:28:57,800 --> 00:29:00,800 Speaker 3: does get wasted because it is so easy with lifestyle 655 00:29:00,840 --> 00:29:02,800 Speaker 3: creep to just see that money come straight in and 656 00:29:02,800 --> 00:29:05,960 Speaker 3: go straight back out, because often you'll have a mentality 657 00:29:06,000 --> 00:29:07,960 Speaker 3: of Okay, well I'm going to treat myself. I'm going 658 00:29:08,000 --> 00:29:10,200 Speaker 3: to you know, buy those new shoes. I'm going to 659 00:29:10,240 --> 00:29:12,280 Speaker 3: go out for lunch more often I can afford it. 660 00:29:12,320 --> 00:29:14,640 Speaker 3: I earn more money now. Like to me, that's a 661 00:29:14,680 --> 00:29:17,960 Speaker 3: detrimental mindset when in reality, what we want them to 662 00:29:18,000 --> 00:29:22,120 Speaker 3: be doing is actually allocating those funds towards goals and 663 00:29:22,160 --> 00:29:25,760 Speaker 3: towards creating wealth, and whether that's savings or investments, or 664 00:29:25,800 --> 00:29:27,720 Speaker 3: you know, maybe you've got a trip that you've been 665 00:29:27,760 --> 00:29:30,479 Speaker 3: planning for that. You can now save more too, so 666 00:29:30,480 --> 00:29:32,560 Speaker 3: that when you come home, you've got a surplus, Like, 667 00:29:32,800 --> 00:29:36,440 Speaker 3: to me, what can you actually contribute that to? And 668 00:29:36,480 --> 00:29:39,320 Speaker 3: divide that twenty five grand by twelve months, work out 669 00:29:39,320 --> 00:29:41,400 Speaker 3: how much that is per month so that you're not 670 00:29:41,440 --> 00:29:43,920 Speaker 3: missing any of it, and then make sure that amount 671 00:29:43,960 --> 00:29:46,320 Speaker 3: is going into an account that helps you build wealth 672 00:29:46,400 --> 00:29:48,200 Speaker 3: instead of losing it. 673 00:29:48,520 --> 00:29:51,239 Speaker 1: Do you think a financial advisor is necessary for this 674 00:29:51,280 --> 00:29:53,719 Speaker 1: situation or just kind of depends on how she's feeling. 675 00:29:54,120 --> 00:29:54,960 Speaker 2: Absolutely not. 676 00:29:55,160 --> 00:29:57,840 Speaker 3: I think that budgeting in cashlow is something that you 677 00:29:57,880 --> 00:30:00,800 Speaker 3: guys can take control of yourself. Don' need a financial 678 00:30:00,800 --> 00:30:03,960 Speaker 3: advisor to do that for you. Obviously, there are financial 679 00:30:04,000 --> 00:30:06,400 Speaker 3: advisors that will do it. Obviously I work with my 680 00:30:06,520 --> 00:30:09,280 Speaker 3: clients to do that, and there are money coaches out there. 681 00:30:09,440 --> 00:30:12,680 Speaker 3: But I genuinely feel like if you have the tools 682 00:30:12,680 --> 00:30:14,680 Speaker 3: in front of you and you have been given the 683 00:30:14,720 --> 00:30:16,960 Speaker 3: guidance to do that and Jodja, that's actually why I've 684 00:30:16,960 --> 00:30:20,719 Speaker 3: created the course that I've created. It's purely because you 685 00:30:20,800 --> 00:30:23,560 Speaker 3: can actually go and do it yourself and go through 686 00:30:23,600 --> 00:30:26,080 Speaker 3: the framework and go through a PDF and go through 687 00:30:26,160 --> 00:30:28,760 Speaker 3: you know, just different tools that you can do to 688 00:30:28,880 --> 00:30:30,880 Speaker 3: one work out your goals, work out your cash flow, 689 00:30:30,920 --> 00:30:33,400 Speaker 3: work out your savings, work out what that actually means, 690 00:30:33,880 --> 00:30:36,440 Speaker 3: and go from there. So for me, no, you don't 691 00:30:36,480 --> 00:30:39,040 Speaker 3: need a financial advisor for spending. You don't need a 692 00:30:39,040 --> 00:30:41,600 Speaker 3: financial advisor to tell you what your budgeting and cash 693 00:30:41,640 --> 00:30:44,240 Speaker 3: flow should be because you are smart, like your own 694 00:30:44,280 --> 00:30:47,040 Speaker 3: intelligent human being, and we can all work. 695 00:30:46,880 --> 00:30:47,760 Speaker 2: That out ourselves. 696 00:30:47,920 --> 00:30:49,840 Speaker 3: It might just be a little bit sticky at the 697 00:30:49,920 --> 00:30:53,560 Speaker 3: very start because it can feel overwhelming, but hopefully you 698 00:30:53,600 --> 00:30:55,200 Speaker 3: can sit down and go, you know what, I'm just 699 00:30:55,200 --> 00:30:57,240 Speaker 3: going to do it. Small steps are still steps in 700 00:30:57,280 --> 00:30:59,560 Speaker 3: the right direction, and I'm just going to work it 701 00:30:59,600 --> 00:31:02,360 Speaker 3: out trial and error at the start, I promised. 702 00:31:02,040 --> 00:31:08,520 Speaker 5: You Hi, I'm thirty five. I'm on a journey from 703 00:31:08,720 --> 00:31:13,080 Speaker 5: impulsive to informed money management, and this is my money diary. 704 00:31:13,240 --> 00:31:15,960 Speaker 1: As you guys would know, we've been partnering with Wiser. 705 00:31:16,120 --> 00:31:18,920 Speaker 1: So for today's money diary, we have someone who's used 706 00:31:18,960 --> 00:31:21,680 Speaker 1: the app to start their journey to becoming debt free. 707 00:31:21,920 --> 00:31:24,360 Speaker 1: But first let's learn a little more about what she does, 708 00:31:24,440 --> 00:31:26,880 Speaker 1: how much she earns, and how much she currently has 709 00:31:26,920 --> 00:31:27,880 Speaker 1: in her bank account. 710 00:31:28,000 --> 00:31:34,160 Speaker 5: Typically, I'm in sales and marketing in the specification building industry. 711 00:31:34,440 --> 00:31:39,640 Speaker 5: My typical income prior to being made redundant was roughly 712 00:31:39,760 --> 00:31:47,240 Speaker 5: ninety thousand a year, plus commission and potentially other allowances. 713 00:31:47,440 --> 00:31:51,160 Speaker 5: I'm pretty sure the spending account is zero. 714 00:31:51,920 --> 00:31:53,560 Speaker 1: So what's her story with debt? 715 00:31:53,760 --> 00:31:57,760 Speaker 5: It's a story that starts fifteen years ago, when I 716 00:31:57,880 --> 00:32:03,440 Speaker 5: was about twenty twenty one, I moved to Sydney, and 717 00:32:04,360 --> 00:32:08,920 Speaker 5: at that time I was trying to survive in the 718 00:32:08,960 --> 00:32:13,080 Speaker 5: big smoke and rent even when you're sharing in the city, 719 00:32:13,160 --> 00:32:17,120 Speaker 5: even fifteen years ago, was a lot of money. Unfortunately, 720 00:32:17,160 --> 00:32:21,920 Speaker 5: at that time, it was very easy for a young 721 00:32:22,000 --> 00:32:27,560 Speaker 5: person with a moderately steady income to get a credit 722 00:32:27,600 --> 00:32:32,320 Speaker 5: card or a personal loan, and I found myself caught 723 00:32:32,360 --> 00:32:36,280 Speaker 5: in the trap of having living expenses to pay, but 724 00:32:36,400 --> 00:32:39,720 Speaker 5: also being in my twenties and not being in a 725 00:32:39,760 --> 00:32:43,440 Speaker 5: position to earn a fantastic amount of money, and also 726 00:32:43,520 --> 00:32:46,720 Speaker 5: wanting to have a social life. When you're in your twenties, 727 00:32:47,240 --> 00:32:50,760 Speaker 5: you're usually not in an environment where staying home and 728 00:32:51,440 --> 00:32:57,200 Speaker 5: occupying yourself is appealing in comparison to going out with 729 00:32:57,240 --> 00:33:00,760 Speaker 5: your friends and seeing the latest movie and hitting nightclubs 730 00:33:01,160 --> 00:33:04,520 Speaker 5: and wearing flashy clothes. Because there's still that teenage element 731 00:33:04,600 --> 00:33:07,840 Speaker 5: of needing to sort of validate one status with things, 732 00:33:08,280 --> 00:33:11,640 Speaker 5: and when your living environment is the bare minimum one 733 00:33:11,680 --> 00:33:15,480 Speaker 5: can afford, it's probably not the most pleasant space for 734 00:33:15,520 --> 00:33:20,080 Speaker 5: your mental health. So I found personally there was a 735 00:33:20,120 --> 00:33:22,920 Speaker 5: bit of that fear of missing out, that wanting to 736 00:33:23,280 --> 00:33:25,880 Speaker 5: socialize with friends and have the latest and greatest and 737 00:33:25,880 --> 00:33:31,480 Speaker 5: not miss out on experiences. Anyway, that was a repeat 738 00:33:31,560 --> 00:33:35,000 Speaker 5: situation for me for many, many years, and I found 739 00:33:35,040 --> 00:33:37,920 Speaker 5: as I was becoming more valuable at the workplace and 740 00:33:37,960 --> 00:33:41,160 Speaker 5: earning more as I put studies on hold and moved 741 00:33:41,160 --> 00:33:44,320 Speaker 5: into full time work, I was still never quite able 742 00:33:44,360 --> 00:33:48,640 Speaker 5: to get head of the debt payments and the rent 743 00:33:48,680 --> 00:33:53,280 Speaker 5: payments and the living expenses in order to take down 744 00:33:53,360 --> 00:33:57,400 Speaker 5: my debt and add some savings. So fast forward ten 745 00:33:57,440 --> 00:33:59,680 Speaker 5: years ahead, and I am still in debt. I have, 746 00:34:00,400 --> 00:34:05,040 Speaker 5: on multiple occasions consolidated credit cards into personal loans, then 747 00:34:05,440 --> 00:34:09,160 Speaker 5: not close to those cards, just in case, and of 748 00:34:09,320 --> 00:34:14,200 Speaker 5: course just in case became somebody's twenty fifth birthday and 749 00:34:14,400 --> 00:34:17,200 Speaker 5: let's go out, and I'll just buy this bottle of wine, 750 00:34:17,239 --> 00:34:20,160 Speaker 5: and oh well, now I've started spending money on the 751 00:34:20,200 --> 00:34:23,200 Speaker 5: credit cards, so I'll just get this uber home and 752 00:34:23,239 --> 00:34:25,680 Speaker 5: suddenly you're using the card again, and it's easy to 753 00:34:25,719 --> 00:34:29,880 Speaker 5: continue clocking up additional debt. The most debt I was 754 00:34:29,920 --> 00:34:34,000 Speaker 5: in was probably still twenty thousand dollars on the car, 755 00:34:34,680 --> 00:34:38,960 Speaker 5: fifteen thousand in credit cards, and a consolidated loan for 756 00:34:38,960 --> 00:34:40,000 Speaker 5: almost the same amount. 757 00:34:40,400 --> 00:34:42,560 Speaker 1: And when did you decide something had to change? 758 00:34:42,920 --> 00:34:45,320 Speaker 5: I can't say there was just one day where I 759 00:34:45,480 --> 00:34:48,040 Speaker 5: changed my mind. There was no specific moment, but the 760 00:34:49,040 --> 00:34:54,920 Speaker 5: constant need to prioritize debt payments and then say no 761 00:34:55,239 --> 00:35:01,240 Speaker 5: to friends and say no to events and stripped back 762 00:35:01,320 --> 00:35:04,600 Speaker 5: on grocery bills in order to pay the electricity bill 763 00:35:04,719 --> 00:35:09,560 Speaker 5: became something that really bothered me. I got to a 764 00:35:09,560 --> 00:35:12,240 Speaker 5: point where I was like, I am, I'm in my thirties. 765 00:35:12,239 --> 00:35:14,400 Speaker 5: Now I should not be eating baked beans because I 766 00:35:14,440 --> 00:35:16,399 Speaker 5: had a particularly large electricity bill. 767 00:35:16,480 --> 00:35:18,719 Speaker 1: So how did she use Wiser to consolidate and help 768 00:35:18,719 --> 00:35:19,800 Speaker 1: get on top of her debts. 769 00:35:20,239 --> 00:35:23,600 Speaker 5: There was a really easy online application process. It took 770 00:35:23,680 --> 00:35:27,280 Speaker 5: less than five minutes. I was approved within twenty four hours, 771 00:35:27,560 --> 00:35:29,759 Speaker 5: and the money was in my bank twenty four hours later. 772 00:35:30,040 --> 00:35:33,239 Speaker 5: Everything is now consolidated. I have one debt which is 773 00:35:33,239 --> 00:35:36,080 Speaker 5: with Wiser, and it is so much easier to manage. 774 00:35:36,200 --> 00:35:39,799 Speaker 5: The roundup app is fantastic. You install it on your 775 00:35:39,840 --> 00:35:43,720 Speaker 5: phone and over the course of a month, it tracks 776 00:35:43,760 --> 00:35:47,640 Speaker 5: you're spending across whichever bank accounts you nominate. I still 777 00:35:47,719 --> 00:35:52,240 Speaker 5: have a sizeable debt to pay, but it could, presuming 778 00:35:52,280 --> 00:35:54,960 Speaker 5: I'm employed again, it could be paid off by the 779 00:35:55,040 --> 00:35:55,600 Speaker 5: end of the year. 780 00:35:55,719 --> 00:35:57,120 Speaker 1: What is her big money goal? 781 00:35:57,360 --> 00:36:00,920 Speaker 5: The big goal is home ownership, but I want a 782 00:36:00,960 --> 00:36:05,280 Speaker 5: home where I can pay the mortgage but also travel 783 00:36:05,320 --> 00:36:08,560 Speaker 5: every year and go out and see the friends and 784 00:36:08,760 --> 00:36:11,080 Speaker 5: go to the theater, that sort of thing. So the 785 00:36:11,120 --> 00:36:14,040 Speaker 5: home ownership, but also a nice lifestyle. 786 00:36:14,200 --> 00:36:15,640 Speaker 1: And what's her best money habit? 787 00:36:16,000 --> 00:36:16,920 Speaker 2: Now it's budgeting. 788 00:36:17,120 --> 00:36:19,920 Speaker 5: I have a spreadsheet that I write out all incoming 789 00:36:19,960 --> 00:36:23,000 Speaker 5: and all outgoing expenses per month, and I follow that 790 00:36:23,080 --> 00:36:23,880 Speaker 5: quite religiously. 791 00:36:24,080 --> 00:36:25,640 Speaker 1: And what's her worst money habit? 792 00:36:25,760 --> 00:36:28,960 Speaker 5: There's still an element of impulse buying, particularly if I'm 793 00:36:29,000 --> 00:36:31,839 Speaker 5: out with friends, so the you know, the two dollar 794 00:36:31,880 --> 00:36:34,560 Speaker 5: budget on dinner could become very quickly become one hundred 795 00:36:34,600 --> 00:36:36,480 Speaker 5: dollars without me intending to. 796 00:36:36,840 --> 00:36:40,000 Speaker 1: And finally, what grade would you give her relationship with money? 797 00:36:40,000 --> 00:36:42,600 Speaker 5: Okay, so I'd say that, let's say, twelve months ago, 798 00:36:42,680 --> 00:36:46,000 Speaker 5: I was probably a C minus and now I'm seeing 799 00:36:46,000 --> 00:36:48,440 Speaker 5: myself as a B plus working towards an A. 800 00:36:48,440 --> 00:36:50,919 Speaker 1: Alrighty, Victoria, I kick us off. What did you think 801 00:36:51,000 --> 00:36:53,359 Speaker 1: of impulsive to informed? Love that name? 802 00:36:53,560 --> 00:36:55,080 Speaker 2: Just side note? Yeah, I feel like. 803 00:36:55,040 --> 00:36:56,839 Speaker 3: That had a fair bit of thought put into it 804 00:36:56,880 --> 00:36:59,759 Speaker 3: as well, you can tell. But I really liked her. 805 00:37:00,320 --> 00:37:02,960 Speaker 3: I really liked learning about it. It sounds like she's 806 00:37:03,000 --> 00:37:06,520 Speaker 3: feeling more empowered than ever now, but also at the 807 00:37:06,560 --> 00:37:09,680 Speaker 3: same time, she seems quite positive for such a negative 808 00:37:09,719 --> 00:37:12,600 Speaker 3: situation that she's gone through. Like she mentioned that she's 809 00:37:12,719 --> 00:37:15,439 Speaker 3: been made redundant and she doesn't currently have a role, 810 00:37:15,680 --> 00:37:18,759 Speaker 3: which must be such a significant lifestyle shift, because she 811 00:37:18,800 --> 00:37:22,719 Speaker 3: said that she previously, if my memory serves me correctly, 812 00:37:23,040 --> 00:37:25,440 Speaker 3: she was on ninety thousand dollars a year, plus comms 813 00:37:25,520 --> 00:37:28,080 Speaker 3: maybe plus some other stuff that she said she got. 814 00:37:28,520 --> 00:37:30,879 Speaker 3: And I just feel like, going from that to being 815 00:37:30,920 --> 00:37:34,800 Speaker 3: made redundant, if she's hopefully on like job seeker or something, 816 00:37:34,880 --> 00:37:37,360 Speaker 3: she's got some income coming in, but that's still not 817 00:37:37,480 --> 00:37:40,480 Speaker 3: heaps of money each month, and I know that lots 818 00:37:40,480 --> 00:37:43,480 Speaker 3: and lots of us are struggling with that. So look, 819 00:37:43,520 --> 00:37:45,120 Speaker 3: I get it, and I know that lots of us 820 00:37:45,120 --> 00:37:47,680 Speaker 3: are going through that, but I think that's where, you know, 821 00:37:48,200 --> 00:37:50,720 Speaker 3: we can feel a little bit grateful that we still 822 00:37:50,760 --> 00:37:52,960 Speaker 3: have some level of support to come in so that 823 00:37:53,000 --> 00:37:55,560 Speaker 3: she can, you know, continue to pay off debt and 824 00:37:55,719 --> 00:37:59,200 Speaker 3: continue to fund her lifestyle essentially, even if it is 825 00:37:59,200 --> 00:38:00,760 Speaker 3: a little bit restrict did at the moment. 826 00:38:01,160 --> 00:38:04,680 Speaker 1: I also liked keeping in line with today's episode that 827 00:38:04,760 --> 00:38:07,000 Speaker 1: she's got a budget going, so she's on top of 828 00:38:07,040 --> 00:38:09,320 Speaker 1: it in that aspect, right. 829 00:38:09,280 --> 00:38:11,920 Speaker 3: Yeah, absolutely, And I feel like that's the key to 830 00:38:12,000 --> 00:38:15,320 Speaker 3: success here, Like, yes, there are so many different things 831 00:38:15,320 --> 00:38:17,359 Speaker 3: that we can do to get ourselves out of debt, 832 00:38:17,440 --> 00:38:19,480 Speaker 3: but the one thing that is going to help you 833 00:38:19,600 --> 00:38:22,920 Speaker 3: here is having a budget and understanding your income and 834 00:38:22,960 --> 00:38:26,080 Speaker 3: your expenses, like what's coming in and what's going out. 835 00:38:26,520 --> 00:38:29,600 Speaker 3: Because when you put a budget together, understanding all your 836 00:38:29,600 --> 00:38:32,239 Speaker 3: regular repayments, let's you know, one how much you can 837 00:38:32,440 --> 00:38:35,239 Speaker 3: save it an entire year, but two how much you 838 00:38:35,280 --> 00:38:38,520 Speaker 3: can attribute to debt repayments and how much you actually 839 00:38:38,600 --> 00:38:41,080 Speaker 3: have to be able to contribute. And I think that 840 00:38:41,080 --> 00:38:44,040 Speaker 3: that's really powerful and that's really important. And once you 841 00:38:44,120 --> 00:38:46,560 Speaker 3: understand your budget, you're able to reflect on that a 842 00:38:46,640 --> 00:38:50,359 Speaker 3: little bit more holistically and understand where you maybe need 843 00:38:50,400 --> 00:38:52,920 Speaker 3: to make some change in Georgia. I know that you 844 00:38:52,960 --> 00:38:55,520 Speaker 3: and I were like nodding along when she said, yeah, 845 00:38:55,520 --> 00:38:57,759 Speaker 3: and I have Fomo and I still have Fomo. It's 846 00:38:57,760 --> 00:39:01,520 Speaker 3: something I struggle with because as much as I am 847 00:39:01,520 --> 00:39:04,319 Speaker 3: definitely someone who's like, no, let's budget and cash flow, 848 00:39:04,520 --> 00:39:07,080 Speaker 3: I don't want it to impact your lifestyle. And that's 849 00:39:07,120 --> 00:39:11,759 Speaker 3: why I always recommend having some money set aside that 850 00:39:11,800 --> 00:39:16,080 Speaker 3: you actually do have entertainment and recreation in your budget, 851 00:39:16,200 --> 00:39:19,200 Speaker 3: so that you know you don't completely restrict yourself and 852 00:39:19,200 --> 00:39:21,279 Speaker 3: go no, I can't go out, no, I can't do this, 853 00:39:21,840 --> 00:39:23,040 Speaker 3: so that then you blow out. 854 00:39:23,400 --> 00:39:24,800 Speaker 2: It's all about balance. 855 00:39:24,440 --> 00:39:26,879 Speaker 3: And making sure that yes, I'm paying down my debt 856 00:39:26,920 --> 00:39:29,080 Speaker 3: and yes I'm trying really hard to get rid of it, 857 00:39:29,360 --> 00:39:31,719 Speaker 3: but also we need to live life along the way 858 00:39:31,719 --> 00:39:34,279 Speaker 3: as well, Like I'm not naive to the fact that 859 00:39:34,360 --> 00:39:36,080 Speaker 3: you know, if you've got mass amounts of debt that 860 00:39:36,120 --> 00:39:39,840 Speaker 3: life goes on around you, and that can be really hard. 861 00:39:40,239 --> 00:39:43,520 Speaker 1: I think it would be a good idea for Today's 862 00:39:43,520 --> 00:39:45,440 Speaker 1: Money Dirist as well to go back and listen to 863 00:39:46,000 --> 00:39:48,479 Speaker 1: last week's episode, because we did do a deep dive 864 00:39:48,600 --> 00:39:50,680 Speaker 1: on Fomo while we're feeling it and how we can 865 00:39:50,760 --> 00:39:53,319 Speaker 1: battle it. So definitely have a listen to that one, 866 00:39:53,360 --> 00:39:55,360 Speaker 1: and to anyone else interested, go back and listen to 867 00:39:55,360 --> 00:39:55,800 Speaker 1: that one. 868 00:39:56,080 --> 00:39:58,759 Speaker 3: Yes, absolutely, that was actually a really popular one. I 869 00:39:58,760 --> 00:40:01,359 Speaker 3: got so many messages about people saying that's me. I 870 00:40:01,400 --> 00:40:04,760 Speaker 3: totally get that. Like that resonated so much, and I 871 00:40:04,800 --> 00:40:07,800 Speaker 3: love feedback like that because if you guys, yeah exactly, 872 00:40:07,880 --> 00:40:10,279 Speaker 3: and if you guys are listening and feeling like we're 873 00:40:10,320 --> 00:40:13,319 Speaker 3: talking directly to you, well, Georgia King, we are on 874 00:40:13,360 --> 00:40:14,080 Speaker 3: the right track. 875 00:40:14,239 --> 00:40:17,360 Speaker 1: Yeah. I also, last little point, I loved that she 876 00:40:17,480 --> 00:40:20,719 Speaker 1: spoke about Wiser, which again terribly convenient because they're on 877 00:40:20,760 --> 00:40:21,440 Speaker 1: the show today. 878 00:40:21,719 --> 00:40:24,000 Speaker 3: Yeah exactly, And I feel like we did line this 879 00:40:24,160 --> 00:40:26,880 Speaker 3: up pretty well, let's be honest. But at the end 880 00:40:26,960 --> 00:40:29,160 Speaker 3: of the day, like I looked into Wiser when I 881 00:40:29,200 --> 00:40:32,520 Speaker 3: first started speaking to them, and I'd seen them around before, 882 00:40:32,800 --> 00:40:34,919 Speaker 3: to be honest, I was mind blown. I just felt 883 00:40:35,000 --> 00:40:37,200 Speaker 3: like they've got the same heart that we do. And 884 00:40:37,280 --> 00:40:39,399 Speaker 3: I know that sounds really lame, but talking to them 885 00:40:39,440 --> 00:40:42,200 Speaker 3: and their team like they are just as passionate about 886 00:40:42,239 --> 00:40:45,480 Speaker 3: money and cash flow and budgeting as I am, and 887 00:40:45,520 --> 00:40:47,440 Speaker 3: the amount of hours honestly, I don't know if I 888 00:40:47,440 --> 00:40:50,200 Speaker 3: should even say this that I've wasted after hours talking 889 00:40:50,239 --> 00:40:54,440 Speaker 3: to their team on just Zoom because they're based in Sydney. Amazing, Like, 890 00:40:54,480 --> 00:40:58,040 Speaker 3: I really like them. I'm just we're actually friend just 891 00:40:58,120 --> 00:41:01,600 Speaker 3: as people. Yeah, totally, I feel like we're friends now, 892 00:41:01,680 --> 00:41:04,160 Speaker 3: so hopefully they feel the same way. 893 00:41:04,440 --> 00:41:07,719 Speaker 1: I'm sure the people at Wiser love you too, Victoria. 894 00:41:08,239 --> 00:41:10,080 Speaker 1: Was there anything else you wanted to add about today's 895 00:41:10,120 --> 00:41:10,760 Speaker 1: money Diarist? 896 00:41:11,120 --> 00:41:13,120 Speaker 3: I don't think so, to be honest, I was just 897 00:41:13,160 --> 00:41:16,400 Speaker 3: really impressed with her ability to reflect on her journey 898 00:41:16,400 --> 00:41:18,560 Speaker 3: where it came from. And I think that she's clearly 899 00:41:18,560 --> 00:41:21,400 Speaker 3: got a deep understanding of her money story, which you 900 00:41:21,440 --> 00:41:24,160 Speaker 3: guys know, I think is really really important. I loved 901 00:41:24,200 --> 00:41:26,279 Speaker 3: that she was budgeting and then that she was really 902 00:41:26,280 --> 00:41:29,000 Speaker 3: aware of FOMO and that's still being a sticking point 903 00:41:29,040 --> 00:41:31,319 Speaker 3: for her. But I think that she should absolutely give 904 00:41:31,360 --> 00:41:34,719 Speaker 3: herself a massive pat on the back because she's doing amazingly. 905 00:41:35,080 --> 00:41:37,200 Speaker 3: And I just think that there are so many people 906 00:41:37,239 --> 00:41:41,200 Speaker 3: in similar situations to her that hopefully will be inspired 907 00:41:41,200 --> 00:41:43,200 Speaker 3: by this story to get out of debt and to 908 00:41:43,360 --> 00:41:45,000 Speaker 3: you know, just kind of put your hand up and go, hey, 909 00:41:45,080 --> 00:41:45,960 Speaker 3: I might need a hand. 910 00:41:46,360 --> 00:41:49,520 Speaker 1: Great points there, Victoria, as always, but it is time 911 00:41:49,600 --> 00:41:50,680 Speaker 1: to now wrap the show. 912 00:41:51,280 --> 00:41:53,840 Speaker 3: But just before we head off, we'd like to acknowledge 913 00:41:53,880 --> 00:41:57,880 Speaker 3: and pay respect to Australia's Aboriginal and torrest Rate Islander people's, 914 00:41:57,960 --> 00:42:02,120 Speaker 3: the traditional custodians of the land, waterways and skies across Australia. 915 00:42:02,480 --> 00:42:04,719 Speaker 3: We thank you for sharing and caring for the land 916 00:42:04,760 --> 00:42:06,879 Speaker 3: on which we are able to learn. We pay our 917 00:42:06,920 --> 00:42:10,080 Speaker 3: respects to elders past and present and share our friendship 918 00:42:10,120 --> 00:42:11,080 Speaker 3: and kindness. 919 00:42:11,360 --> 00:42:14,160 Speaker 1: Now let's quickly wrap the boring but important stuff. The 920 00:42:14,239 --> 00:42:16,400 Speaker 1: advice shared on Cheers on the Money is general in 921 00:42:16,480 --> 00:42:20,160 Speaker 1: nature and does not consider your individual circumstances. Cheers on 922 00:42:20,200 --> 00:42:23,360 Speaker 1: the Money exists purely for educational purposes and should not 923 00:42:23,400 --> 00:42:26,120 Speaker 1: be relied upon to make an investment or financial decision. 924 00:42:26,600 --> 00:42:29,880 Speaker 1: And stress less, we promise. Victoria Devine is an authorized 925 00:42:30,080 --> 00:42:34,759 Speaker 1: representative of Australia Pacific Funds Management Proprietary Limited ABN three 926 00:42:34,800 --> 00:42:37,319 Speaker 1: four one three two four six three two five seven 927 00:42:37,480 --> 00:42:40,520 Speaker 1: AFSEL three three nine one five one. As always, a 928 00:42:40,520 --> 00:42:42,800 Speaker 1: big old shout out to Ryan John for putting together 929 00:42:42,800 --> 00:42:43,600 Speaker 1: today's podcast. 930 00:42:43,880 --> 00:42:46,319 Speaker 3: We would love it if you joined our Facebook group 931 00:42:46,320 --> 00:42:49,440 Speaker 3: where our community shares money tips and tricks every single 932 00:42:49,520 --> 00:42:52,640 Speaker 3: day without judgment. Search She's on the Money on Facebook 933 00:42:52,680 --> 00:42:55,279 Speaker 3: and join us. If Facebook's not your thing, you can 934 00:42:55,320 --> 00:42:58,040 Speaker 3: also find us on Instagram. We're at She's on the 935 00:42:58,040 --> 00:43:00,000 Speaker 3: Money a US, See you next week. 936 00:43:00,080 --> 00:43:00,880 Speaker 2: Got five 937 00:43:11,080 --> 00:43:11,480 Speaker 1: Mm hmm,