Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud Yr
Speaker 1: the Order Kerney Whalbury and a waddery woman. And before
Speaker 1: we get started on She's on the Money podcast, I
Speaker 1: would like to acknowledge the traditional custodians of the land
Speaker 1: of which this podcast is recorded on a wondery country,
Speaker 1: acknowledging the elders, the ancestors and the next generation coming
Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing
Speaker 1: and the storytelling of you to make a difference for
Speaker 1: today and lasting impact for tomorrow.
Speaker 2: Let's get into it.
Speaker 3: She's on the Money. She's on the Money.
Speaker 4: Hello, and welcome to She's on the Money podcast for
Speaker 4: millennials who want financial freedom.
Speaker 2: Now VI, I ask, have you ever.
Speaker 4: Found yourself saying something along the lines of I'm not
Speaker 4: a maths person, I'm bad at money, I'm scared of maths.
Speaker 2: Even yeah, I think I've said all of those things.
Speaker 4: I think I'm going to diagnose you with maths anxiety.
Speaker 5: Oh my gosh, thank you for that diagnosis. I can
Speaker 5: now live my life free with the diagnosis.
Speaker 2: That makes sense perfect.
Speaker 4: It doesn't mean that you're bad at money necessarily but
Speaker 4: today we're going to be looking at it.
Speaker 5: I get diagnosed with ADHD legitimately, and that does make
Speaker 5: me bad with money. So well, that's probably a whole
Speaker 5: episode in itself.
Speaker 4: He's a whole episode in itself. And so the maths
Speaker 4: anxiety I'm sure isn't doing you any favors. But here
Speaker 4: we go. Why are we talking about this today?
Speaker 5: B I think it is a very important topic to
Speaker 5: talk about. Yeah, that's why.
Speaker 2: No, that makes sense.
Speaker 5: But honestly about it, I feel like this topic has
Speaker 5: come from the conversations I've been having in our DMS
Speaker 5: with our community recently, because so many of you just
Speaker 5: feel so overwhelmed when you look at your budget, or
Speaker 5: when you look at money, or when you're trying to
Speaker 5: work out your bank account. And I feel like so
Speaker 5: many times the crux of it when we actually have
Speaker 5: the conversation, isn't that you're worried about using software. It's
Speaker 5: not about the budget. It's just that you feel so
Speaker 5: overwhelmed with the numbers of it. And the reality is
Speaker 5: finance and being good at money has nothing to do
Speaker 5: with numbers and everything to do with psychology. Because we
Speaker 5: all have a calculator on our phone, right, Like we
Speaker 5: all can use a calculator because they made us buy
Speaker 5: those expensive ones when we went to school and carry
Speaker 5: them around as though, Oh, if you don't use this calculator,
Speaker 5: how are you going to live in your life not
Speaker 5: knowing that an iPhone would literally have way more power
Speaker 5: than literally anything that.
Speaker 2: Came out of the nineties. But I digress.
Speaker 5: I think it's just so important to understand that so
Speaker 5: many of us have maths anxiety and number anxiety, and
Speaker 5: that can actually play into us assuming that we'll be
Speaker 5: terrible at money, when in reality.
Speaker 2: It's got nothing to do with that. And just because you.
Speaker 5: Have decided not to, you know, study or work in
Speaker 5: something that maths heavy, doesn't mean that you don't know
Speaker 5: what you're talking about. Like, at the end of the day,
Speaker 5: I think we can all wrap our heads around one
Speaker 5: plus one equals too, and I, my friend, will teach
Speaker 5: you the rest like I've got the rest. I'll teach
Speaker 5: you about investing. I'll teach you it in a way
Speaker 5: that makes sense for you. But at the end of
Speaker 5: the day, most of us bury our head in the
Speaker 5: sand when it comes to money, because honestly, it just
Speaker 5: feels overwhelming and uninspiring, and so many of us will
Speaker 5: tell ourselves the narrative like I've.
Speaker 2: Never been good at numbers, or I've never been good
Speaker 2: at money. I've never been good at all of these beings.
Speaker 5: It's because it's about psychology. Think about your friends who
Speaker 5: are really good at saving beck. Are they mathematicians? No,
Speaker 5: they probably just have their heads screwed on and they
Speaker 5: know what their goals are. We think about the people
Speaker 5: who have, you know, really high incomes that aren't.
Speaker 2: Good at money.
Speaker 4: So we don't need cos and ten and sin.
Speaker 5: Oh you remember all of those. I'm so smart you did,
Speaker 5: Thank you. You don't actually need those because they have
Speaker 5: nothing to do with you creating financial security and getting
Speaker 5: your budget and cash flow slaughted and putting yourself in
Speaker 5: their best possible position. So I want to talk about
Speaker 5: it today because genuinely, maths is not money, and money
Speaker 5: is not maths.
Speaker 2: Money is psychology, all.
Speaker 4: Right, So I guess, like, on the back of that,
Speaker 4: what does math anxiety actually look like for people?
Speaker 5: Panic, overwhelmed, that pet in your stomach or you know
Speaker 5: that lump in your throat. Yeah, anxiety in general, it
Speaker 5: shows up when you're asked to solve a maths problem
Speaker 5: on the spot. I get that anxiety when someone asks
Speaker 5: me what my times tables are because I was never
Speaker 5: good at rote learning, so I just didn't learn them properly.
Speaker 2: Yellow.
Speaker 4: Sometimes I work in my best friend's coffee cut right. Yeah, yeah,
Speaker 4: and safety beach. You guys might know or calculating the change.
Speaker 4: I say, you know, this is five dollars seventy. Someone
Speaker 4: gives me ten dollars and then another dollar. Well the help, No,
Speaker 4: they don't well know if that will help. I don't
Speaker 4: know if I don't know if you're trying to trick me.
Speaker 5: But that's technically that would help because I can see
Speaker 5: where they're going. It was five dollars seventy and they
Speaker 5: wanted a five dollar note.
Speaker 4: That totally and then they wanted a few cents.
Speaker 2: Yeah on the spot. No, it's not overwhelming. It is
Speaker 2: something helped me.
Speaker 5: You should just get a calculator that you put beside
Speaker 5: the register, I think, because that would really help. I
Speaker 5: think it's really important as well to just like talk
Speaker 5: about this as a normal thing, because how many of
Speaker 5: us experience this, but then feel like if we talked
Speaker 5: about it, we'd come across a silly or dumb or
Speaker 5: like not in an intelligent human being. Yeah, why would
Speaker 5: you know how to do something if it's not part
Speaker 5: of your curriculum?
Speaker 2: Why would you know how.
Speaker 5: To consistently be good at money and budgeting if we've
Speaker 5: never learnt before? Becky, if I sent you into a
Speaker 5: doctor surgery and said you're the doctor today.
Speaker 2: How could you do that job?
Speaker 4: Well, I'd give it a go.
Speaker 2: You give it a go, but I wouldn't known. You
Speaker 2: wouldn't know, you'd just be making it up.
Speaker 4: Be a tiny baby exactly.
Speaker 5: If somebody sent me into their job as a potter,
Speaker 5: I'd like walk in and be like, I don't know
Speaker 5: how to make pops, but I don't know how to.
Speaker 2: Do this right. I think it looks sexy like I've
Speaker 2: always wanted to do, you know, like that scene out of.
Speaker 5: Ghost where you can like create a big oas and
Speaker 5: it's a centual experience. I'd mess it up here in
Speaker 5: two seconds. You know, I don't know how to do
Speaker 5: that because I've had no practice in it. You know
Speaker 5: how you get good at that you practice in it.
Speaker 5: I haven't practiced money. How are you going to be
Speaker 5: good at it? Exactly right before we go any Further, though,
Speaker 5: I do want to acknowledge that there is a genuine
Speaker 5: learning disability that makes it very difficult. It's like dyslexia,
Speaker 5: but it's called dyscalcula ah, and it's when you just
Speaker 5: really struggle to comprehend numbers. Today, we're not talking about that.
Speaker 5: We are talking about math's anxiety, which is more of
Speaker 5: a psychological hurdle than a neurological one. And I think
Speaker 5: if you're suffering from that, I can't help you in
Speaker 5: that aspect because I'm not a psychologist or a psychiatrist
Speaker 5: or working in that space. But what I do talk
Speaker 5: about is money and math's anxiety as a generalized concept
Speaker 5: that we struggle with. So I don't want people to
Speaker 5: listen to this and be like, oh, V, did you
Speaker 5: know that's a real thing?
Speaker 2: Like I do.
Speaker 5: But we're not talking about that. We're talking about people
Speaker 5: like you Beck who just.
Speaker 2: Gare really overwhelmed with it.
Speaker 5: But I know you have the power to do it,
Speaker 5: and I know you're smart enough and good enough and
Speaker 5: it's not hard and if I give you the right push,
Speaker 5: like you will actually flourish, right, Like, you'll be fine.
Speaker 5: But that's like everybody who's listening right, Like, I know
Speaker 5: you can do this because if I can do it,
Speaker 5: you can do it. And I know you think that
Speaker 5: I'm relatively intelligent.
Speaker 2: That's just good editing.
Speaker 4: That's just good editing, you know, true, it's just the
Speaker 4: person sitting with her twenty four seven, that's definitely true.
Speaker 5: But I feel like math's anxiety can convince you that
Speaker 5: you're bad at maths or you're bad at money and
Speaker 5: anything that involves numbers. And I just think it's really
Speaker 5: important to know that there is legitimate research, beack that
Speaker 5: tells us that you being bad at numbers has literally
Speaker 5: nothing to do with your actual ability and everything to
Speaker 5: do with the fact that you haven't learned how to
Speaker 5: do it or you haven't been taught properly.
Speaker 2: That actually makes a lot of pretty sexy.
Speaker 4: So has there been any studies into the prevalence of
Speaker 4: math's anxiety and how it actually plays out for people?
Speaker 2: Obviously?
Speaker 5: Yes, Like, I'm not going to come not well did,
Speaker 5: I'm going to come with the proof?
Speaker 2: Baby?
Speaker 5: So the twenty seventeen Westpac Numeracy Study found that math's
Speaker 5: anxiety affects as many as a third of adults and
Speaker 5: children in Australia. One very large study which was connected
Speaker 5: in the UK in twenty nineteen. It's a little bit
Speaker 5: more recent, found that seventy seven percent of children with
Speaker 5: high levels of maths anxiety achieved average to high grades
Speaker 5: in the subject.
Speaker 2: Ah isn't that good. Yeah, but you're doing really well,
Speaker 2: but you're anxious.
Speaker 1: Yeah.
Speaker 5: Maybe they're just like me and they're just anxious about everything.
Speaker 5: So in twenty twelve, a USA study explored what was
Speaker 5: happening in the brain of children between the age of
Speaker 5: seven to nine while they solved a series of different
Speaker 5: maths problems. In kids with money anxiety, scans showed that
Speaker 5: the brain regions associated with processing negative emotions were hyperactive,
Speaker 5: while those that play a role in mathematical reasoning and
Speaker 5: working memory were completely unreactive.
Speaker 4: Oh that's very interesting.
Speaker 5: So that means that there is literally a link between
Speaker 5: money anxiety and negative emotions. So, no, wonder we don't
Speaker 5: want to touch it. Yeah, no, wonder you run away
Speaker 5: from it? Who wants to experience negative emotions?
Speaker 4: Yeah, that makes sense.
Speaker 2: The maths is mathing right.
Speaker 4: Math is actually mathan right now.
Speaker 5: The same study, Beck also found that the effects were
Speaker 5: unique to the children with maths anxiety and had nothing
Speaker 5: to do with general anxiety, intelligence or reading ability.
Speaker 4: That's good to know.
Speaker 5: So it's just maths anxiety. So what I have determined
Speaker 5: from this it's a real thing, real thing, real thing.
Speaker 4: We're talking a lot of numbers here. I see it's
Speaker 4: going to a quick break and see you guys on
Speaker 4: the other side.
Speaker 5: We are back in this episode, I feel like is
Speaker 5: a happy, snappy little episode that hopefully puts a pep
Speaker 5: in your step when it comes to maths anxiety and
Speaker 5: feeling overwhelmed by numbers. I feel like so many of
Speaker 5: us experience this, and I just want to grab you
Speaker 5: and hug you and be like.
Speaker 2: It's not you, it's everyone. You're not alone.
Speaker 5: Like we all suck at maths, like I fumble at
Speaker 5: the checkout sometimes when people are like, oh, it's fifty bucks.
Speaker 2: I go, oh my god, if I even got that.
Speaker 5: Like, I feel like we all go through this, But
Speaker 5: what we should be doing is just normalizing these conversations
Speaker 5: because we can learn anything we put our minds to.
Speaker 5: And I know this is like the worst quote ever.
Speaker 5: Dumber people have dune better things, But do you know
Speaker 5: what I mean? Like you look at it like, there
Speaker 5: are so many people in this world world who have
Speaker 5: less intelligence, but they just put themselves out there they
Speaker 5: see killing it at their game or their whatever. It's
Speaker 5: going to deal with intelligence.
Speaker 4: Yes.
Speaker 5: In fact, if you want like my favorite book recommendation
Speaker 5: of the moment, it's a book called Grit by Angela Duckworth.
Speaker 4: And is it about how ducks are worthy to No.
Speaker 5: It's not about how ducks are worthy too. We are
Speaker 5: you are killing me? Ducks are worthy? We like Angela Duckworth.
Speaker 5: I mean were canceling jk Rawlings, but that is okay.
Speaker 5: But essentially she wrote this book and it's about grit,
Speaker 5: and it is this really cool book about how grit
Speaker 5: is passion and perseverance for long term goals. And one
Speaker 5: way I guess to think about grit is it's not talent,
Speaker 5: it's not intelligence. It's actually about how the most successful
Speaker 5: people in this world aren't the smartest and maybe they
Speaker 5: aren't the most talented, but they're the ones that get
Speaker 5: up and try again.
Speaker 2: And that's like that grit.
Speaker 5: I think it was twenty thirteen she did a Ted
Speaker 5: talk and that Ted talk is amazing. If you don't
Speaker 5: want to read the book, just look up grit, the
Speaker 5: power of passion and perseverance, and that Ted talk is amazing.
Speaker 5: It like makes you feel so empowered, I suppose, because
Speaker 5: it's really about this power that you have of perseverance
Speaker 5: and actually standing up and just going you know what,
Speaker 5: I'm just going to try again, because that's what creates
Speaker 5: the most successful people in the entire world. Nothing to
Speaker 5: do with intelligence. So if you're telling yourself this narrative
Speaker 5: of I'm not smart enough or I'm not good enough,
Speaker 5: it actually has nothing to do with that. Sure, So
Speaker 5: when I say dumber people have done better things, that's
Speaker 5: what I mean because they've probably got that grit. And
Speaker 5: I feel like if anyone was to compliment me, I
Speaker 5: would love it if people said, she's real gritty.
Speaker 4: You seem like you've read that book. When you were
Speaker 4: explaining that book to me, I was like, I'm obsessed
Speaker 4: with it. You've read it, and it shows, babe.
Speaker 5: It's honestly a really good book about I guess, just
Speaker 5: the power of perseverance. Because you know, I'm not silly.
Speaker 5: I am relatively intelligent. Let's be honest. I'm a bloody nerd,
Speaker 5: but like I'm not the most intelligent person in the
Speaker 5: entire world. I'm not the smartest, I'm not the funniest,
Speaker 5: I'm not the anything. I'm not eve the best at finance,
Speaker 5: I'm not the best podcaster, I'm not anything debatable.
Speaker 2: Well I know, but I'm genuinely not.
Speaker 5: And I'm okay with that because that means there's heaps
Speaker 5: of people I can learn from. But also being gritty
Speaker 5: means I will continue to make content. I will continue
Speaker 5: to do this stuff, and like you can do that too,
Speaker 5: And I just don't want people to feel less than
Speaker 5: because they aren't, you know, they're feeling, oh, I wasn't
Speaker 5: that smart. At school, we all have narratives of teachers
Speaker 5: telling us that we're not good enough, or that we
Speaker 5: aren't going to add up to anything, or that you know,
Speaker 5: that's the wrong career choice.
Speaker 2: But like, it doesn't matter.
Speaker 5: What your capability is, or what your intelligence is, or
Speaker 5: even what talent you have. You could be the best
Speaker 5: singer in the entire world, but you don't have the confidence,
Speaker 5: so nobody ever finds that out right, right, Like, you
Speaker 5: could be the most intelligent person in the entire world,
Speaker 5: but you're you know, so hard on yourself that you
Speaker 5: never get to capitalize on the fact that you're the
Speaker 5: most intelligent person in the entire world.
Speaker 4: Yeah, yeah, I totally agree with that.
Speaker 5: So I just think it's so smart and so I guess,
Speaker 5: you know, we can go back into the questions that
Speaker 5: you've got for me. But I'm just so passionate about
Speaker 5: this topic because I don't want you to be stressed.
Speaker 5: I want you to be empowered, Like I want to
Speaker 5: have the best days ever. And I know that you
Speaker 5: can do it because I can do it. Beck can
Speaker 5: do it, Like you just need the education. Yeah yeah,
Speaker 5: I agree with that. So I guess, like prevention is
Speaker 5: the best cure. I want to know how does it
Speaker 5: all develop, so we can kind of like nip it
Speaker 5: in the butt and see the signs early. It's obviously
Speaker 5: super common for maths and anxiety to start when you're
Speaker 5: in primary school because that's when you start learning about maths,
Speaker 5: with some studies finding that it can actually start in
Speaker 5: kids as young as six years old.
Speaker 2: There does Bambini still.
Speaker 4: Funny babies like grayde One, Ah, I shouldn't.
Speaker 2: Feeling five or six. Oh my gosh.
Speaker 1: No.
Speaker 5: I feel like so many of us, as I said before,
Speaker 5: have had bad teachers or you know, unsupportive environments, but
Speaker 5: all of that can be changed. Like, I'm so passionate
Speaker 5: about this, and we really should do another episode on
Speaker 5: money Stories. So if you go all the way back
Speaker 5: to season one, episode one, that was my first podcast,
Speaker 5: it was.
Speaker 2: Called Money Stories.
Speaker 5: And the reason it was my first podcast is because
Speaker 5: that's what I'm most passionate about. Like, we can't change
Speaker 5: the past. We can't change the environments we had, the
Speaker 5: people that supported us. We can't change you know, the
Speaker 5: education we were given, the privilege that we had. But
Speaker 5: what we can do is change the future. Like you
Speaker 5: have no control over what's happened to you, and that's
Speaker 5: why we shouldn't crucify ourselves based on our past mistakes
Speaker 5: or based on what we did or didn't have access to.
Speaker 5: But there are so many amazing people in our community
Speaker 5: who have proved to us that you can just change
Speaker 5: your money story by choice. I'm not saying it's easy,
Speaker 5: but you can change your money story by choice, and
Speaker 5: that is such a beautiful thing. And I just think
Speaker 5: that if you did have somebody who wasn't the most
Speaker 5: supportive or the best environment, like you can become good
Speaker 5: at something if.
Speaker 2: You choose to be good at it. It's epic.
Speaker 5: Maybe you inherited a whole heap of baggage from your parents.
Speaker 5: We obviously have our Money Diaries episode where it always asks,
Speaker 5: can you tell us a little bit more about your
Speaker 5: money story? One because it's my favorite question, But two
Speaker 5: it's so pervy and it's so beautiful that we've got
Speaker 5: this community that want to share with us. But we
Speaker 5: talk to people about the baggage they inherit from their parents,
Speaker 5: or their circumstances or traumatic events they've been through, or
Speaker 5: we even talk to people about their privilege, like we
Speaker 5: have talked to people who have been given it on
Speaker 5: a silver platter done nothing with it. Like it's wild
Speaker 5: what your money story is made up of. I'm obsessed
Speaker 5: with it. Other things spec like gender stereotypes are also
Speaker 5: really major sources of negative beliefs about money and maths,
Speaker 5: especially in girls and women who tend to experience math
Speaker 5: and anxiety way more than boys do, even though they
Speaker 5: perform just as well in the subject, Like girls aren't
Speaker 5: inherently worse at maths. No, but it's not a girl,
Speaker 5: it's topic.
Speaker 2: I'm not a finance bro.
Speaker 4: Yeah, yeah, I'm so glad that we're veering away from
Speaker 4: that narrative and hopefully that will not be a common
Speaker 4: stat in the future.
Speaker 5: I agree, But isn't it wild? It's also kind of like,
Speaker 5: I guess this is another left field part of the conversation,
Speaker 5: just even the way that you know, hear it, she's
Speaker 5: on the money. We create content is illustrated in the media,
Speaker 5: like anytime anything happens Victoria divine and it's always fluffy,
Speaker 5: and it's always like her and hergem.
Speaker 2: You already have girls.
Speaker 5: But like if somebody who was male did the same
Speaker 5: stuff that we did, it would be looked at very,
Speaker 5: very differently somehow. Because I am a female who cares
Speaker 5: about her nails and her hair and wants to have,
Speaker 5: you know, rainbow technic color nails, and I want to
Speaker 5: get my eyelash extensions and I really enjoy those things.
Speaker 5: That means that I'm probably not as good at money
Speaker 5: or finance as you are, right, Like, there's just this
Speaker 5: inherent underlying idea that I am not going to be
Speaker 5: as good at that. And it's wild when I meet
Speaker 5: people in the wild. It's wild when I meet people
Speaker 5: and they're like, oh, what do you do? Go, I've
Speaker 5: got a podcast and they go, cute, what's your real job?
Speaker 5: I go, okay, cool, like I also own a mortgage
Speaker 5: broken company.
Speaker 2: They're like, oh, really, do you just work from home?
Speaker 5: Like it's always undermined, it's always underplayed because there's this
Speaker 5: stereotype that I don't fit of somebody who might own
Speaker 5: a successful finance company.
Speaker 4: Yeah, that's a real shame.
Speaker 5: I don't even care, Like I could not care less.
Speaker 5: It's actually comical, Like, I know sometimes I work from home,
Speaker 5: but my team they work from an office. Yeah, and
Speaker 5: they kind of like bat their eyes and they're like,
Speaker 5: what a team.
Speaker 4: It doesn't have a compute what.
Speaker 5: It's my favorite thing in the entire world. But I
Speaker 5: just think that gender stereotypes are obviously this massive source
Speaker 5: of anxiety, and they shouldn't be because we're not less
Speaker 5: than Ye've just been fed to this patriarchal idea that
Speaker 5: women shouldn't be good at things, when in reality, we
Speaker 5: know that women are better investors than men. There is
Speaker 5: so much research out there to say that if we
Speaker 5: just divide the genders and look at who's a better investor,
Speaker 5: women are because we take more time, more energy to
Speaker 5: understand the circumstances, we are less likely to be responsive.
Speaker 5: We're more likely to think about the circumstances. Sure makes
Speaker 5: us better at investing.
Speaker 4: I like, that's a strong statement, and I'm going to
Speaker 4: agree with having absolutely no knowledge on that way.
Speaker 5: But women are more likely to tell themselves that they're
Speaker 5: not good at it because they don't know anything about it.
Speaker 2: They're not smart enough.
Speaker 4: That is a real shame, and it's fake, fake news,
Speaker 4: fake news.
Speaker 5: Everyone. We're canceling it because you're a really smart girl
Speaker 5: and I believe in you.
Speaker 1: Yep.
Speaker 5: But essentially all of these things that we're talking about
Speaker 5: today are linked to your story and a linked to
Speaker 5: the narrative that you tell yourself as an adult, and
Speaker 5: they actually don't reflect your ability at all. You could
Speaker 5: actually be amazing at maths and you're thinking about this
Speaker 5: going oh wow, that's another part of my life, Like
Speaker 5: I'm not so good at comprehension, or I'm not good
Speaker 5: at making friends, or I'm not good at whatever.
Speaker 2: It is. Like, you can be if you want to be.
Speaker 2: I love that you can if you want to be.
Speaker 4: How do we address it?
Speaker 5: It's not a life sentence like you stuck with maths
Speaker 5: anxiety forever. To be honest, I really think it's about
Speaker 5: education because most of the time we feel anxious about something,
Speaker 5: or we're scared about something, or we don't want to
Speaker 5: engage in something, or we're just a little bit apprehensive
Speaker 5: because we don't know enough about the circumstance. Right, Like
Speaker 5: I get social anxiety, and a lot of the time,
Speaker 5: thing that alleviates that social anxiety is if I get
Speaker 5: told who's going to be there where it is, I'm
Speaker 5: far less anxious if I'm going somewhere I've already been
Speaker 5: because you already know the circumstances. And basically that's education, right,
Speaker 5: So like education makes me feel more comfortable. Same with maths.
Speaker 5: You usually are going to feel overwhelmed or anxious about
Speaker 5: something if you don't have enough information about that. But
Speaker 5: if I set you down and gave you all the
Speaker 5: information that you needed. I'm not saying the maths anxiety
Speaker 5: is going anywhere, but I promise it will be much
Speaker 5: less because you feel a bit more empowered in that circumstance.
Speaker 5: So I guess the first step is to challenge your
Speaker 5: personal beliefs about yourself and durabilities and maybe ask yourself
Speaker 5: what are you good at? And I promise there are
Speaker 5: going to be things like, there's so much to this
Speaker 5: where I know that if you are anxious or you
Speaker 5: don't have enough confidence, you just go, oh, I don't
Speaker 5: want to have too many tickets on myself. Well that's
Speaker 5: really lame. But honestly, having a low opinion of yourself
Speaker 5: it's not modest, it's not sexy. It's actually self destruction.
Speaker 5: And I think so many times we try to be
Speaker 5: modest and go oh, like I don't want to you know,
Speaker 5: look like I'm pumping up my own tires. Why it's
Speaker 5: destructive to pretend you're not as good at things as
Speaker 5: you are. I mean, there's obviously the flip side of that,
Speaker 5: where you have a God complex and you think you're
Speaker 5: amazing at absolutely everything, and like watching those train wrecks
Speaker 5: of the auditions on Australian Idol, which are one of
Speaker 5: my favorite things in the entire world.
Speaker 4: You're just like, ah, that's a lot thank God for
Speaker 4: God complex.
Speaker 5: Yes, sometimes yeah, thank God because it provides me with
Speaker 5: a lot of entertainment. But at the end of the day,
Speaker 5: you saying what you're good at is actually just really
Speaker 5: constructive and really helpful and helps you leverage into other
Speaker 5: parts of your life. You might be really good at conversations.
Speaker 5: You might be really good at one or another thing,
Speaker 5: and like that's not a bad thing to say, Oh
Speaker 5: I'm not good at that, or I am good at that.
Speaker 5: It's actually a really good thing to just be real
Speaker 5: with yourself, because we can't learn and grow if we
Speaker 5: don't know where we're learning and growing from. So take,
Speaker 5: for example, like sport or writing. How do you react
Speaker 5: when you make a mistake doing something that you're really
Speaker 5: confident with? You go, oh my god, whatever, that doesn't
Speaker 5: make sense. If you're really good at sport, beck and
Speaker 5: you like, you know, we're playing tennis and you're really
Speaker 5: really good at tennis and you miss a swing, you're
Speaker 5: probably just gonna shrug it off and try again, right,
Speaker 5: because you're actually really good at that thing. But if
Speaker 5: you were just learning tennis for the very first time
Speaker 5: and you miss a swing, you'd be like, I can't
Speaker 5: do this.
Speaker 2: I suck.
Speaker 5: This isn't good, Like I'm the worst at this, I'm
Speaker 5: no good, you haven't had enough practice, and like that's
Speaker 5: basically it. But when you make a mistake with maths,
Speaker 5: maybe you really punish yourself with negative affirmations or panic right,
Speaker 5: of course.
Speaker 3: I got it wrong.
Speaker 2: I'm so bad at this. Is that helpful for anybody involved?
Speaker 4: Yeah, And you kind of think like I mustn't have
Speaker 4: the brain for this, but I'm sure you do exactly.
Speaker 5: And there's this psychological concept called reframing and I learned
Speaker 5: a lot about it when I was studying, but you
Speaker 5: can google it reframing and like lots of examples about
Speaker 5: reframing to help you. But essentially, instead of saying something like, oh,
Speaker 5: I'm not a maths person or I'm just really bad
Speaker 5: the money, you could say, oh, just experiencing some math
Speaker 5: anxiety is just making me feel a little bit overwhelmed,
Speaker 5: Like that's a much better situation to be. And maybe
Speaker 5: practicing some math skills in a fun I don't know
Speaker 5: if it can be fun. It's fun for me, but
Speaker 5: maybe just like no stress environment is probably better. Like
Speaker 5: have you done saduku or noodle or I that could
Speaker 5: be really fun to get you back into numbers and
Speaker 5: then slowly start to do things. I think that there's
Speaker 5: this misconception that you need to dive right in and
Speaker 5: take every single step. If budgeting or looking at your
Speaker 5: money situation is a bit overwhelming, back do you know
Speaker 5: what my advice.
Speaker 2: Is, don't do it? Don't do it.
Speaker 5: How about we just put that to the side. How
Speaker 5: about we start with just looking at your pay slip.
Speaker 5: How much money comes into your bank account each week?
Speaker 2: Did you know that?
Speaker 5: Do we tell you? No? I want to tell me
Speaker 5: that if you know that number, you're in a better
Speaker 5: position than you were yesterday when you didn't know the
Speaker 5: exact amount.
Speaker 2: And maybe that's all we do today. That's fine.
Speaker 5: Maybe tomorrow wee can talk about how much you're spending
Speaker 5: on your groceries.
Speaker 2: Do you know?
Speaker 5: Maybe you don't. Maybe we can work that out. Yeah,
Speaker 5: maybe we can have a look at what your groceries
Speaker 5: look like each and every single week, and you go,
Speaker 5: cheese vie. I didn't even know it was that much.
Speaker 5: Oh beg, Is there anything you want to change in that?
Speaker 1: Oh?
Speaker 5: Yeah, I just need to maybe cut back on how
Speaker 5: many cheesecakes I'm buying or something.
Speaker 4: I do a cheesecake and you do.
Speaker 5: But it's one of those things that I think you
Speaker 5: don't need to go boots and all into this. Just
Speaker 5: take it slowly, because the slower you take it, the
Speaker 5: more it's actually going to absorb. Yep, that's why we
Speaker 5: don't do anything in intensives. At UNI, I got offered
Speaker 5: to do intensive subjects, like you know where they like
Speaker 5: take an entire semester, like twelve weeks of content, and
Speaker 5: they like pump it into you in four days. So
Speaker 5: I did that to get rid of like two subjects
Speaker 5: that I really wanted to get rid of. And I
Speaker 5: was like, sweet, I'll just do this over the Christmas break.
Speaker 5: I'll sign up for two intensives. Could not tell you
Speaker 5: what I learned. Couldn't because you know what, I crammed
Speaker 5: all that information so I could do the test. At
Speaker 5: the end of the day, take it off, go home,
Speaker 5: have probably three glasses of wine. Go back the next day,
Speaker 5: do the same thing. All right, you know, do my
Speaker 5: little group project that we did over four days, submit that,
Speaker 5: Breathe a sigh of relief, wait for my result, and
Speaker 5: go oh.
Speaker 2: Far out glad that's over.
Speaker 4: Yeah.
Speaker 2: What did I learn?
Speaker 5: Literally nothing, because I didn't absorb anything, which is why
Speaker 5: we need to do it in small chunks over a
Speaker 5: long period of time, with things that matter to you,
Speaker 5: not with things that don't matter to you. If you're
Speaker 5: just starting your budgeting journey or just starting your money journey.
Speaker 5: Why are we talking about compound interests? Victoria does think
Speaker 5: as a real sexy But is that the best place
Speaker 5: to start, right? How do we just start with the
Speaker 5: small things? Because the small things are the foundation of
Speaker 5: financial literacy. And if we can create a really solid foundation,
Speaker 5: if you like, you know, wiggle at the top or
Speaker 5: you're like swaying and you're not sure, you're not going
Speaker 5: to fall very far because the foundations are really solid.
Speaker 5: So I think that we just need to take small
Speaker 5: steps and little steps and make sure that the system
Speaker 5: works for you. So like automatic payments might work for
Speaker 5: you for other people, they might not work for some people.
Speaker 5: Having a really good budget spreadsheet like the one in
Speaker 5: our Budget and cash Flow master class that I do,
Speaker 5: makes a lot of sense for other people, They're like,
Speaker 5: I don't want that. I just want an app that
Speaker 5: does everything for me. Educate yourself, Listen to Sheese on
Speaker 5: the Money, Go into our Facebook. It's the most supportive
Speaker 5: place in the entire world.
Speaker 2: It makes my heart.
Speaker 5: Seeing every single day ask questions and normalize this discussion
Speaker 5: because to me, it is so important to be having
Speaker 5: money conversations because when I talk about money, it puts
Speaker 5: you and my friends in a better position, and then
Speaker 5: when you talk about money, it kind of spreads. Yep.
Speaker 2: It's like do you remember like the phone Trees when
Speaker 2: you were.
Speaker 4: Younger, Phone Tree?
Speaker 5: Yeah, they had it on Legally Blonde, where like I
Speaker 5: call three people and then those three people three people, Like,
Speaker 5: that's what.
Speaker 2: We're going to do with financial literacy.
Speaker 5: When you do a legally Blonde flone tree.
Speaker 4: Let's try it. Let's churn out to themselves.
Speaker 2: I think we're done.
Speaker 4: I think it's a really good place to leave it.
Speaker 2: I think so do.
Speaker 5: Legally Blond's a very good movie. Go and listen to it.
Speaker 4: Go and listen to it, and watch it.
Speaker 2: I'm such a podcast and you can.
Speaker 4: Listen to it if you want to go.
Speaker 2: All right, have a good day. Loved me on Friday.
Speaker 2: Bye bye.
Speaker 5: The advice shared on She's on the Money is general
Speaker 5: in nature and does not consider your individual circumstances. She's
Speaker 5: on the Money exists purely for educational purposes and should
Speaker 5: not be relied upon to make an investment or financial decision.
Speaker 5: If you do choose to buy a financial product, read
Speaker 5: the PDS TMD and obtain appropriate financial advice tailored towards
Speaker 5: your needs. Victoria divine and she's on the money. Are
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