Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud your
Speaker 1: the Order Kerni 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 through.
Speaker 1: As this podcast is about connecting, empowering, knowledge sharing and
Speaker 1: the storytelling of you to make a difference for today
Speaker 1: and lasting impact for tomorrow.
Speaker 2: Let's get into it.
Speaker 3: She's on the Money, She's on the Money. Hello, and
Speaker 3: welcome On the Money, the podcast for millennials who want
Speaker 3: financial freedom. Welcome to our very special recording of our show,
Speaker 3: coming to you live from the Melbourne CBD where we
Speaker 3: are recording a live podcast episode in celebration of the
Speaker 3: launch of the new investing Wishes on the Money Book.
Speaker 3: As always, we are here to celebrate our community, but
Speaker 3: I am joined with the gorgeous jessic Rici.
Speaker 2: Hello. Hello.
Speaker 3: Hello. As you guys know, Friday is the perfect time
Speaker 3: to sit back with a bevy in hand to recap
Speaker 3: the week that was and chat about the highs the lows.
Speaker 3: We're going to share some money wins and conversions, and
Speaker 3: we're going to talk about everything that is happening not
Speaker 3: in the finance world, but in my book, which we're
Speaker 3: really excited about. Let's get into it, though obviously we
Speaker 3: are going to be joined by a very special guest,
Speaker 3: Victoria Latu in the second half of this episode. But
Speaker 3: before we get there, how about Jess. We just catch
Speaker 3: up on the week that was. How's your week been?
Speaker 4: It's been pretty good, it's been pretty crazy. We're in
Speaker 4: Sydney two days ago doing this exact thing, although when
Speaker 4: you're listening to this on the pod, it will have
Speaker 4: been a whole week from now, because that's how things
Speaker 4: work in podcast land. They sound like they're all happening
Speaker 4: one after the other, and sometimes we're lying, but that's okay.
Speaker 3: We are, and sometimes we edit out things we don't
Speaker 3: want you to hear.
Speaker 5: Like the F bombs.
Speaker 3: We don't swear we are angels. I'm wearing wite uring
Speaker 3: peach that could not come out of our mouths. How
Speaker 3: have you been for the last six months? I feel
Speaker 3: like she's on the money, has been wild You've had
Speaker 3: to put up with me finishing this book. You've had
Speaker 3: to put up with me dragging you, arguably all across
Speaker 3: the world to do. She's on the money stuff. Are
Speaker 3: you dealing with it? Okay?
Speaker 4: I am having a lot of fun. We just got
Speaker 4: back from the States. Anyone who follows us online would
Speaker 4: have seen lots of Disney content because that's where I
Speaker 4: had fun, not so much at the finance conference.
Speaker 3: Excuse me, she's not wrong, but I didn't think she'd
Speaker 3: say that on stage. That was actually our bargaining right.
Speaker 3: So I was like, I really want to go to FINCLN.
Speaker 3: It's a finance content creators conference, which none of you
Speaker 3: are going to find interesting. I do, though, and I
Speaker 3: said to Jess, let's go. She's like, oh, you know,
Speaker 3: there's so much happening at home. Maybe you just go
Speaker 3: and you make some new friends. And I was like,
Speaker 3: I don't really want to go alone, Like I know
Speaker 3: it's going to suck, but I want the information take
Speaker 3: you to disney World, and she was like I'm in.
Speaker 3: So it worked. We went to Disneyland. We also were
Speaker 3: lucky enough to go to Disneyland in Paris earlier this
Speaker 3: year as well. So I feel like it would only
Speaker 3: be fair for the people who are running the sponsorship
Speaker 3: for the Disney cruise to give you a free cruise
Speaker 3: so many people.
Speaker 5: I'm really glad.
Speaker 4: If I'm known for anything in this community, it's for
Speaker 4: being a Disney adult. Because I reckon, about fifty people
Speaker 4: sent me the post when that was announced, which is very,
Speaker 4: very fun, and that is my contribution, not the finance content.
Speaker 4: I hope you're not here for that because I don't
Speaker 4: know anything about it, but Disney I could talk about
Speaker 4: all day absolutely.
Speaker 3: All right, Well, I reckon, it's time to get into
Speaker 3: our budget direct money wins and confessions of the week.
Speaker 3: What reckon jazz sounds like a plan. Let's say I
Speaker 3: kick off the very first one you can. Fantastic.
Speaker 2: I have a win.
Speaker 3: It is from our friend Kelsey, who I believe is
Speaker 3: here tonight. She says, small money win. I want to
Speaker 3: buy my daughter one of those personalized name blankets for
Speaker 3: her first birthday. They're between one hundred and one hundred
Speaker 3: and fifty dollars depending on the design, and my daughter
Speaker 3: is now going to be in a photo shoot for
Speaker 3: them because I emailed them. Are we going to get
Speaker 3: a gift bouncher to spend at their store, and she
Speaker 3: gets to keep all the images.
Speaker 4: I feel like that's so wholesome, Like imagine wanting something
Speaker 4: and then being like, not only do I get it,
Speaker 4: my child is now the face of it creepy either way,
Speaker 4: depending on how you look at it.
Speaker 3: Kelsey, the audacity you had to email them and be like,
Speaker 3: my kid's cute, give her a free blanket, and you're
Speaker 3: through in our marketing.
Speaker 4: If you are here, Kelsey, I'd really like to see
Speaker 4: a photo of the blanket, because now I'm super sure
Speaker 4: why to see the baby? What if the baby's on
Speaker 4: the blanket like her face? Why not both? Yeah, I've
Speaker 4: got a win from Esther, who said money win, absolutely
Speaker 4: out of it after my wisdom tooth removal saved five
Speaker 4: hundred dollars from what I was quoted, absolutely out of
Speaker 4: my mind trying to pay dribbling everywhere, what a money
Speaker 4: when it was, and how I needed to tell Victoria
Speaker 4: divine And when I wrote this one down, I was
Speaker 4: just really picturing Esther. I don't know if anyone's ever
Speaker 4: seen the videos of people post wisdom teeth removal when they're.
Speaker 3: Real and you can't sleep tonight, google it or put
Speaker 3: it on YouTube. It's actually the funniest thing I've ever seen.
Speaker 3: But the way she wrote it, I was just like,
Speaker 3: are you writing this? Like in the car on the
Speaker 3: way home, particularly when she's like dribbling everywhere.
Speaker 5: Gotta tell Victoria divine.
Speaker 3: It was just I feel bad because I had my
Speaker 3: wisdom teeth out a couple of years ago, and it
Speaker 3: doesn't matter that I'm now in my thirties. I still
Speaker 3: called my mom and was like, hey, Mom, I need
Speaker 3: to get my wisdom teeth that.
Speaker 2: Will you come with.
Speaker 3: Me and help me? All four were impacted. Long story short,
Speaker 3: had to go into hospital for it. That's fine, but
Speaker 3: I had Mom pick me up after. So she takes
Speaker 3: me home and if you know me, I under eat me.
Speaker 3: I demanded a big Mac on the way home, and
Speaker 3: I ate it so quickly that I didn't know i'd
Speaker 3: had it and asked Mum for another one. Ten out
Speaker 3: of ten. If you have been is it anethetized? Yeah,
Speaker 3: you just do things you don't want people to see
Speaker 3: on the internet. So I'm glad that I didn't get
Speaker 3: on my phone and all I did was get through
Speaker 3: Mac's drive through. I have one it is from Nicole.
Speaker 3: She says, small but consistent money win here. I locked
Speaker 3: in fuel cheap and I topped up my tank before
Speaker 3: it expired. Not a full tank, but it's so much
Speaker 3: better to pay a dollar fifty one per tank instead
Speaker 3: of a dollar ninety four.
Speaker 4: I really got a heart attack when I got off
Speaker 4: the plane and saw how expensive petrol was. And we've
Speaker 4: spoken on the podcast before about how I am a
Speaker 4: very irresponsible driver in the sense that I will drive
Speaker 4: my car on empty for kilometers, like I have had
Speaker 4: to call RACV three times because I run out of petrol,
Speaker 4: and my boyfriend twice, who is here somewhere today, Hi, James, love.
Speaker 3: You so Also sorry James.
Speaker 5: Yeah, also sorry James.
Speaker 4: But we got off the flight from Sydney, and I
Speaker 4: had driven to the airport with no petrol, and it's
Speaker 4: always more expensive at the airport anyway, And when we
Speaker 4: had left, I think it was like a dollar maybe
Speaker 4: forty five fifty something like that, And we got off
Speaker 4: the plane and it was a dollar ninety seven. And
Speaker 4: I told her to fill up before she left, and
Speaker 4: I get mad anxiety.
Speaker 3: When Jess's like, oh, drive, I'm like, no, you will not,
Speaker 3: absolutely not all right, I have a very wholesome money win.
Speaker 3: Oh no, I don't, nuns.
Speaker 4: I have a wholesome money win from Rachel, and she
Speaker 4: steal my stuff money win. I stole it because I
Speaker 4: really really liked this one.
Speaker 5: Rude.
Speaker 4: It says, my super talented girlfriend is showing me some
Speaker 4: cute outfits for Falls festival instead of me spending heaps
Speaker 4: of money on new ones.
Speaker 5: Bonus win.
Speaker 4: She uses mostly recycled and reclaimed fabrics from op shops,
Speaker 4: so it's a win for the environment too. And I
Speaker 4: was just imagining her coming up with like these really
Speaker 4: fun fancy outfits for Falls because people wear really crazy
Speaker 4: cute fun festival things, and drawing it up and then
Speaker 4: her go friend like sewing away like Cinderella's Little Mice,
Speaker 4: and then in the morning the outfits just waiting on
Speaker 4: the table. I made a whole narrative in my head
Speaker 4: for this, That's what I love.
Speaker 3: Took it off me. Also, Cylinderella is mice didn't consent
Speaker 3: to that. The flip story of this is like Rachel's girlfriend,
Speaker 3: did she consent to this or is she now up
Speaker 3: to like midnight every night when she's got a nine
Speaker 3: to five sewing These outfits that she doesn't even think
Speaker 3: of that cute slave labor.
Speaker 5: And that's that on being in love, all right.
Speaker 3: So my next money, when it is from Melissa. I
Speaker 3: don't know if I've got a cool thirty thousand dollars
Speaker 3: that I can tip into this myself, but she said
Speaker 3: I sold a car for one hundred thousand dollars that
Speaker 3: I paid thirty thousand dollars for as much as I'll
Speaker 3: miss it, it will be a heap of fun. I've
Speaker 3: already got another Honda to buy that replaces it, and
Speaker 3: I already have two other cars as run arounds needs too.
Speaker 3: Maybe Chess, maybe she runs all of her cars out
Speaker 3: of petrol as well. She says, it's not really a recommendation,
Speaker 3: but I've been buying old Japanese cars and flipping them,
Speaker 3: so I recommend other people do two and then get
Speaker 3: it valued because you can raise your insurance as well.
Speaker 3: And no one's gonna like that, but I did. I
Speaker 3: just thought it was real fun.
Speaker 2: That's a huge amount of money.
Speaker 5: So that's it.
Speaker 3: What's I have absolutely no talent. All I'm good at
Speaker 3: is like ripping my rims apart when I go to
Speaker 3: park and like, what are they made for if not
Speaker 3: telling me that I'm at the curb.
Speaker 4: I don't know why they don't make them more sturdy,
Speaker 4: because let's be honest, everybody's done it, and they're made
Speaker 4: of like mine fell off once.
Speaker 3: Because I hit the curb. You were parking smartly.
Speaker 4: They fell off and they were like this thin, and
Speaker 4: I was like, why are these not made of like
Speaker 4: steal or something that's like a little sturdier.
Speaker 3: Honestly, I'm convinced if they didn't want them to get scratched,
Speaker 3: they'd be further set back. So they are obviously in
Speaker 3: existence to make sure that I am a good parker.
Speaker 4: And she's gonna live by that statement. My last money
Speaker 4: wh is from Megan, and she said, we went to
Speaker 4: dinner on Friday night with my partner. We decided to
Speaker 4: get gelato afterwards, and the store was doing buy one,
Speaker 4: get one free, and that is my dream and that's
Speaker 4: why I picked it as my last money win because
Speaker 4: I feel like, that's so good.
Speaker 3: Free ice cream. You're like ten out of ten, buy one,
Speaker 3: get one free. Her favorite money win wasn't going to
Speaker 3: Disney World on Victoria like what, Okay, no worries. It
Speaker 3: has as always been great celebrating some of your budget
Speaker 3: direct money wins Budget Direct winner of Canctar's Insurer if
Speaker 3: the year twenty twenty to award Budget Direct Insurance Solved.
Speaker 4: We have some fun listener questions that people want to
Speaker 4: ask you, because turns out everybody who's here is just
Speaker 4: as passionate as we are. So the first question that
Speaker 4: we have is how involved in my investing journey do
Speaker 4: I personally need to be very always?
Speaker 2: Is that it always?
Speaker 1: No?
Speaker 3: It's an interesting question because it really depends on what
Speaker 3: type of investment you're going to choose, right And I
Speaker 3: talk about this on the podcast and recently we have
Speaker 3: done Have they come out yet?
Speaker 2: The Passive Investing episode? Is that out?
Speaker 5: I don't know one of them is. When one of
Speaker 5: them is, someone's.
Speaker 3: Nodding, it means it's out. You're better at my show
Speaker 3: than I am.
Speaker 2: Thank you.
Speaker 3: So we're doing like passive versus active investing And I
Speaker 3: really I actually just a sidestep for a second. I
Speaker 3: cannot believe how excited and hungry our community are for
Speaker 3: investing content. Like I thought I would just explain the concepts,
Speaker 3: and now people are emailing and they're like, can you
Speaker 3: do a strategy like can you do an entire podcast
Speaker 3: on this particular you know asset class or can you
Speaker 3: do a particular podcast on the way you do XYZX?
Speaker 3: And it just it blows my mind because it makes
Speaker 3: me so damn proud because I'm like, oh, I know
Speaker 3: that because I'm a financial advisor, but also I just
Speaker 3: didn't think people cared and I do. So how involved
Speaker 3: you want to be really depends on the strategy you adopt,
Speaker 3: and the strategy that you adopt is going to be
Speaker 3: really based on your risk profile. And I talk about
Speaker 3: this all the time on the podcast and all the
Speaker 3: time in real life. My clients that are here tonight,
Speaker 3: I'm sorry you've heard this all before, but it goes
Speaker 3: back to your risk profile, because investing can become really
Speaker 3: easy if you know what asset cliss works for you.
Speaker 3: So if you're a really balanced investor, you're going to
Speaker 3: maybe be less involved, Whereas if you're far more aggressive,
Speaker 3: you're probably going to want to be more involved because
Speaker 3: you're more invested in the share market. So it really depends.
Speaker 3: I would say at the very beginning, it pays to
Speaker 3: be very very invested in your journey in understanding you
Speaker 3: in understanding your money story, in understanding why you want
Speaker 3: to invest, because that's the thing that's going to keep
Speaker 3: you invested for the long term. In making sure that
Speaker 3: you are, you know, putting yourself in the best possible position.
Speaker 3: But if you want to invest in directions, well that's
Speaker 3: a far more active strategy than going and investing in
Speaker 3: an ETF. So I think it really depends on what
Speaker 3: you want to be. But if you want to be
Speaker 3: really hands off and you want to go put your
Speaker 3: money in one asset class and have it managed by
Speaker 3: someone else, like we talk about six Park on the
Speaker 3: show all the time. That's a robo advice platform where
Speaker 3: you just transfer your money they're going to do all
Speaker 3: of the hard work for you. That's a money win.
Speaker 3: If you don't want to be super super involved, but
Speaker 3: you want professional assistance. Whereas someone like me, I'm quite controlling,
Speaker 3: and I love being a part of a passive strategy
Speaker 3: because I know that I can be quite impulsive, but
Speaker 3: I'm really aware of that. So I have what's called
Speaker 3: a core satellite approach where I have my core portfolio
Speaker 3: and that's quite passive and I have other people manage
Speaker 3: that because I can't be trusted, and then I have
Speaker 3: this satellite of different shares that I personally am really
Speaker 3: excited in, and I invest in and follow so I
Speaker 3: know that the risks I'm making there aren't impacting my
Speaker 3: future wealth. But I can kind of employ both a
Speaker 3: passive and an active strategy that makes the most sense
Speaker 3: for us. Does that answer the question?
Speaker 5: Yeah?
Speaker 4: Absolutely, In terms of being hands off, at what point
Speaker 4: do people look at advisors as well? Because I feel
Speaker 4: like that's a chance for you to be relatively hands
Speaker 4: off while still being involved because, as you know, advisors
Speaker 4: do have to keep in the loop. They can't just
Speaker 4: do something without asking.
Speaker 3: Yeah, I've been doing a lot of CPD this week
Speaker 3: and justice like why. So it really depends. To be honest,
Speaker 3: I would say that it's not just passive when you
Speaker 3: go to a financial advisor. I have clients on both
Speaker 3: ends of the spectrum. I have clients in light victoria.
Speaker 3: I trust you do whatever you want, and you know what,
Speaker 3: I actually don't like that, and I don't like it
Speaker 3: because as much as you trust me, and that is beautiful,
Speaker 3: thank you, I also want you to be completely aware
Speaker 3: of absolutely everything that you are involved in. I want
Speaker 3: you to be so understanding of the market, ebbs and flows.
Speaker 3: So when something does happen, you go yes because Victoria
Speaker 3: said it went ABC and D. So in the establishment part,
Speaker 3: I would say active is really important, but yeah, you
Speaker 3: can kind of leave it to the pros. I would argue,
Speaker 3: because financial advice can be cost prohibitive for a lot
Speaker 3: of people, that it's really based on your values. It
Speaker 3: is really based on how much you want to get
Speaker 3: out of your financial journey. I mean, a lot of
Speaker 3: us can do it ourselves, and a lot of our
Speaker 3: community do absolutely support that. But if you're really struggling
Speaker 3: with it, or you've come into a really large sum
Speaker 3: of money, or you know you've been investing for a
Speaker 3: few years and want to take it to a level
Speaker 3: that you just can't seem to grasp yourself, I think
Speaker 3: it would be worth it, but you really do have
Speaker 3: to weigh up the costs of it, and if it's
Speaker 3: investment only, So if you want to go see a
Speaker 3: financial advisor, you can see them in a million different ways, right,
Speaker 3: So you could go see them just for insurance. And
Speaker 3: our friend Phil Thompson, who is here tonight, maybe he's
Speaker 3: here tonight. If he's not, that's kind of sucky.
Speaker 2: What a guy.
Speaker 3: Anyway, he is our insurance specialist for our community, and
Speaker 3: anytime someone has an insurance question, I'm like, look, go
Speaker 3: to feel he does it twenty four to seven. In fact,
Speaker 3: I've gotten to a point in my business where I
Speaker 3: send my clients to do insurance with him and then
Speaker 3: back to me for investment because that's what I invest at.
Speaker 3: Or you could go see a financial advisor who does
Speaker 3: it all and they are what's called a holistic financial advisor.
Speaker 3: Or you could just go for investment advice, and it
Speaker 3: really depends on what you want as to how much
Speaker 3: it's going to cost. But if you're going just for
Speaker 3: investment advice, there's a plethora of different options out there.
Speaker 3: There's robo advice, there's you know DII platforms, there's microinvesting platforms,
Speaker 3: there's you know, managed funds. There's so many options that
Speaker 3: you can engage in as an individual. But when it
Speaker 3: comes to stuff like insurance and superannuation, if I'm being
Speaker 3: brutally honest, and some people aren't gonna like me saying
Speaker 3: this when they listen to the pod, because I think
Speaker 3: everyone in the community is going to understand. I just
Speaker 3: don't think technology is at a point yet where insurance
Speaker 3: and superanuation can be done via an app or Buya,
Speaker 3: a robo advisor. The algorithms don't take into control personal values,
Speaker 3: whereas with investment, personal values get decided before you choose
Speaker 3: your investment assets and the way that it's managed, so
Speaker 3: that can be automated. But it comes down to your
Speaker 3: will when it comes down to how much life insurance
Speaker 3: you want. As much as I could calculate it for you, Jess,
Speaker 3: it's not going to be perfect because I don't know
Speaker 3: what your thoughts, feelings, and legacy are and I don't
Speaker 3: think a robot understands that. So ah, I guess I've
Speaker 3: gone on a little bit of a tangent because that's
Speaker 3: me and I love talking about this, But yeah, I
Speaker 3: just think it depends.
Speaker 5: I like that. It's a very good answer.
Speaker 4: The next question that we have is is it worth
Speaker 4: micro investing at the same time as having a portfolio.
Speaker 4: And I thought this question was really interesting because if
Speaker 4: you're in micro investing, do you not inherently have a
Speaker 4: portfolio that exists?
Speaker 2: Yes?
Speaker 3: Would you micro.
Speaker 2: Invest and proper invest at the same time.
Speaker 3: Yeah, I do.
Speaker 4: I have a spaceship account which I know a lot
Speaker 4: of the people in our community have, which is, you know,
Speaker 4: it's all kind of looked after for me.
Speaker 5: And that's where I started.
Speaker 4: And then, like you said, I graduated to shares these
Speaker 4: and that's where I pick my individual stocks and my
Speaker 4: shares that I want to invest in. And I've kept
Speaker 4: them both partly because my spaceship is very in the
Speaker 4: red right now and it would not be a great
Speaker 4: time for me to sell that down in my opinion,
Speaker 4: not personal advice, but also just because it's kind of
Speaker 4: nice having something that just ticks a without a whole
Speaker 4: lot of thought, and you can have things like the
Speaker 4: auto invest or the round up feature on that makes
Speaker 4: it really easy and those small amounts really add up
Speaker 4: over the long term.
Speaker 3: So you don't even need me. There's your answer. It
Speaker 3: is true, right, Like you don't have to just engage
Speaker 3: with one platform. I would argue you need to weigh
Speaker 3: up the cost of investing on multiple platforms because with
Speaker 3: multiple platforms comes multiple fees. However, they all engage you
Speaker 3: in different ways, and most micro investing platforms have really
Speaker 3: low fees but very high engagement levels. And I would
Speaker 3: say that with the high engagement levels even though you're
Speaker 3: in the red, which at the moment, like we've talked
Speaker 3: about it on the pod, guys, you know we're in
Speaker 3: a bear market. We're twenty percent down. If your investment
Speaker 3: portfolio is in the red, that makes sense because the
Speaker 3: rest of the market is as well. So if you're investing,
Speaker 3: you're probably caring a little bit more about your micro
Speaker 3: investing platform because it's so accessible on your phone. It's
Speaker 3: an app, like you can just log in while you're
Speaker 3: on the train or the tram. I do it in
Speaker 3: bed at night and like I put a candy crush
Speaker 3: and look at my invest It's real cool, like hot
Speaker 3: girl shit.
Speaker 2: I also watch tiktoks.
Speaker 3: Yeah, yeah, a lot of tiktoks.
Speaker 4: As someone who has slept next to you many times
Speaker 4: in separate beds, but many times I can confirm she
Speaker 4: does that and then when it's time to go to bed,
Speaker 4: she puts on a nice soothing murder podcast.
Speaker 3: I actually do and just had to tell me to
Speaker 3: turn it off.
Speaker 5: The other night.
Speaker 3: She was like, do we have to listen to murder?
Speaker 3: You give me nightmares? And I was like, oh, sorry, sorry,
Speaker 3: but murder podcasts can recommend morbid the podcast if you
Speaker 3: want them really gory, awful stories to go to bed.
Speaker 5: With, which I do not.
Speaker 3: For the requestion, let's talk about investment. I think when
Speaker 3: it comes to micro investing, as I said before, it
Speaker 3: keeps you engaged, like I still micro invest even though
Speaker 3: I have these other investment platforms, and the fees aren't
Speaker 3: really my concern purely because I like how engaged with
Speaker 3: the platform I am. I like that I do the roundups,
Speaker 3: and I feel like I save a lot more with it.
Speaker 3: I do get to a certain point on my micro
Speaker 3: investing platform and transfer it over because I'm cheap and
Speaker 3: I don't want to get to the point where they
Speaker 3: charge me more fees, so I chuck it into my
Speaker 3: bigger account, and then I kind of have these mini
Speaker 3: goals of getting to one thousand dollars or getting to
Speaker 3: two thousand dollars depending on which platform it is as
Speaker 3: to when I transfer it, and I'm kind of like, oh,
Speaker 3: how quickly can I get there? Like what if I
Speaker 3: put five dollars a day here instead of getting coffee?
Speaker 3: Like I just play with it a little bit more,
Speaker 3: And I think that that's actually really positive in this space,
Speaker 3: And even if you're only micro investing. I've heard so
Speaker 3: many people say, especially recently, they're like, oh, is it
Speaker 3: worth it? Like I'm just microinvesting, Like, yes, you're exposing
Speaker 3: yourself to the market. Market exposure is not just good
Speaker 3: because it's you going and investing and getting a return,
Speaker 3: because obviously we're all investing so that we can make
Speaker 3: use of compound interests, right, But it's not just about
Speaker 3: getting that compound interest. It's exposing you to the market
Speaker 3: so that when something happens, you're comfortable with it. And
Speaker 3: if it's five dollars a day, or five dollars a week,
Speaker 3: or five dollars a month, or even a dollar a month,
Speaker 3: because that's what you can afford at this point. I
Speaker 3: think that's really really positive because in the future, one
Speaker 3: day you will invest more and you would have already
Speaker 3: experienced the ebbs and flows. And I think that there's
Speaker 3: just this really big misconception that when you start your
Speaker 3: investment journey, you really need to put in your life
Speaker 3: savings or put in so much money that a quote
Speaker 3: makes sense like, that's not the way investment works. I
Speaker 3: think small steps in the right direction are what we
Speaker 3: want to be doing, because it puts us in the
Speaker 3: best possible position.
Speaker 2: So would I do both? Yes, because what I do
Speaker 2: I suppose.
Speaker 4: I love that and I can see us getting the
Speaker 4: eyes because we're getting close to time. But I have
Speaker 4: one more question that I wanted to ask you before
Speaker 4: we headed off, which is, while we know that investments
Speaker 4: should generally be kept.
Speaker 5: Over the long term, again not personal advice.
Speaker 4: That people want to know when it comes time to
Speaker 4: sell your portfolio, if it's the right time for you,
Speaker 4: what things do we need to be keeping in mind.
Speaker 3: Capital gains tax, I think is really important and something
Speaker 3: that we forget we need to pay because we talk
Speaker 3: about tax in general, and you think you already paid
Speaker 3: it on the money that you put into the market.
Speaker 3: But capital gains tax is a tax you pay on
Speaker 3: the profit that you make. So if you made a
Speaker 3: dollar and you are at a tax rate of thirty
Speaker 3: two and a half percent, you have to pay thirty
Speaker 3: two and a half cents to the taxman when you
Speaker 3: pull that money out for every dollar, for every single dollar,
Speaker 3: I said, if you made one dollar, Like I was
Speaker 3: just making it a really small example, Jessica, but I
Speaker 3: think it's really important to take that into consideration. But
Speaker 3: also remember it does get complicated. Remember that losses can
Speaker 3: be carried forward, so if you've had a loss over
Speaker 3: a few years, you can carry those forwards so that
Speaker 3: when you do have a capital gain, it kind of
Speaker 3: balances out. So the best thing you can do if
Speaker 3: you are planning on selling is talk to your accountant,
Speaker 3: and that is not nearly as expensive as talking to
Speaker 3: a financial advisor, I promise, because you'll just say, what
Speaker 3: are the tax implications of me making this decision? And
Speaker 3: they'll say one hundred and twenty dollars, please, sir. And
Speaker 3: that is a really good example of a good investment,
Speaker 3: because you could go, I just want to sell because
Speaker 3: I'm just not feeling it anymore. That's cool, But do
Speaker 3: you want to be up for a couple of thousand
Speaker 3: dollars completely unexpectedly?
Speaker 2: Probably not.
Speaker 3: The other thing I would take into consideration as buying
Speaker 3: and trading in really short periods of time, because capital
Speaker 3: gains tax is taxed at your marginal tax rate. However,
Speaker 3: if you buy and sell it within twelve months, So
Speaker 3: say you went and bought some ethereum or bitcoin a
Speaker 3: month ago, that was a.
Speaker 2: Sad time to buy.
Speaker 3: But let's pretend you didn't. It did really well, and
Speaker 3: you were like, oh my gosh, yess, I made so
Speaker 3: much money on crypto and then you sold it, you
Speaker 3: actually had fifty percent capital gains tax because it's in
Speaker 3: a twelve month period instead of your marginal tax rate.
Speaker 3: So it's really important to remember time in the market,
Speaker 3: but also making sure that tax is taken into consideration,
Speaker 3: because I've seen it in our community where people are like, oh,
Speaker 3: I did this and then I sold this, and then
Speaker 3: it got to tax time and I owed so much
Speaker 3: and I just didn't.
Speaker 2: I don't get it.
Speaker 3: Why did I have this? And it's something that kind
Speaker 3: of creeps up on you. So there are tax implications
Speaker 3: of investing, but the important thing to remember there is
Speaker 3: actually that if you're paying tax, you're making money.
Speaker 2: And we like that.
Speaker 3: We like paying tax, but we only like paying tax
Speaker 3: when it makes sense for us. We don't like surprise tax.
Speaker 3: So avoid surprise tax, but keep paying your tax. Is
Speaker 3: that good advice?
Speaker 5: I feel like it is, And if it's not, I'm
Speaker 5: sure Asik will tell us.
Speaker 2: Otherwise.
Speaker 3: Do you know if I like breached my license? We
Speaker 3: talk about this all the time, that you know if
Speaker 3: influencers being held account to exactly the same standard as
Speaker 3: financial advisors, and people like, what does that mean, guys?
Speaker 3: It means five years in jail and a million dollars.
Speaker 3: I don't have a million dollars, nor do I have
Speaker 3: five years to waste in jail. I could listen to
Speaker 3: a lot of murder podcasts. I could probably make a
Speaker 3: lot of murder podcasts. Maybe it is a good idea.
Speaker 5: I like some really good podcast guests in there.
Speaker 3: All right, we are getting what it would be a
Speaker 3: great idea from behind the bus. She's in jail. Great,
Speaker 3: I love it. All right, Well, we're getting the eyes
Speaker 3: from the side of stage, so we are going to
Speaker 3: take a very short twenty minute break. It is your
Speaker 3: time to get a glass of rose, because when we
Speaker 3: get back on stage, we are going to be having
Speaker 3: a glass of champagne with our very special guest.
Speaker 2: You guys can all grab a wine.
Speaker 5: Will we're back.
Speaker 3: I am very excited. I hope that you guys have
Speaker 3: all had time. She's taking a picture of my book.
Speaker 5: Guys, should we smile of me too?
Speaker 3: I hope you guys have all had time to pick
Speaker 3: up a rose and obviously pick up a book. Well,
Speaker 3: I think that we will get straight back into it
Speaker 3: and introduce our special guest, Jessica. You've got the ramp.
Speaker 3: Tell us about her.
Speaker 4: Our guest is absolutely incredible. Her name is Victoria Latow.
Speaker 4: She is one of Australia's most influential fashion commentators and creators.
Speaker 4: After kicking off her media career in LA which included
Speaker 4: a very fancy roll at MTV, Victoria began her online platform,
Speaker 4: Talking Shop, which is a bold, modern lifestyle online brand
Speaker 4: for the millennial woman, covering topics such as fashion, beauty, lifestyle,
Speaker 4: motherhood and wellness. She's an advocate for diversity within the
Speaker 4: fashion industry and helps to promote confidence in women across
Speaker 4: the nation through how they style and create their signature looks.
Speaker 5: And she looks bomb tonight. She looks stunning.
Speaker 3: I thought I was fashion. I was like, I'm gonna
Speaker 3: wear this white dress and just looks like texting it.
Speaker 3: I'm gonna wear the peach dress and it's like, so
Speaker 3: she's on the money and this woman she trumps us.
Speaker 3: So let's have a very warm welcome for Victoria Letto.
Speaker 2: Welcome to the show. Victoria, thank you so much.
Speaker 6: You know, the thing about me is this is the
Speaker 6: first time I'm actually ever doing a podcast and you
Speaker 6: gotta do it live in front of five hundred people.
Speaker 2: No pressure, I have no pressure at all.
Speaker 3: Well, thanks for joining us. We are genuinely so excited
Speaker 3: to have you. As always, whenever we have a special
Speaker 3: guest on the show, we need to kick it off
Speaker 3: with a recent money win or a confession. What have
Speaker 3: you got for us?
Speaker 2: A money win?
Speaker 6: Okay, I actually invested in crypto and I want some money. Well,
Speaker 6: I say one because it was more like gambling than investing.
Speaker 6: But I'm so proud to say, were you bagging crypto?
Speaker 6: Just that was really some money, not a lot, but
Speaker 6: I actually did did you sell it?
Speaker 2: I held it for about eight months for fun with
Speaker 2: that couple of gains tax.
Speaker 6: I know when you were saying that, but it wasn't
Speaker 6: a big amount of money, so I don't think it
Speaker 6: doesn't matter.
Speaker 2: But the fact is I made my money.
Speaker 3: Yeah, money win ten out of ten win love.
Speaker 2: Making money, So that was my big money win. Is
Speaker 2: that what we took?
Speaker 3: That is perfect?
Speaker 6: But I also have to say, you're obviously with the
Speaker 6: investing your risk take up, and it makes sense because
Speaker 6: you go to bed listening to murder podcasts.
Speaker 3: I'm actually a little bit sad that that's come out publicly, Like,
Speaker 3: I don't think it's not public knowledge that I listen
Speaker 3: to murder podcasts, but the fact that I go to sleep,
Speaker 3: But it does says to the creepy like it's just like, oh,
Speaker 3: that's how she switches off. That's a different breed.
Speaker 6: No, that says a lot about your psyche because I
Speaker 6: am the complete opposite in when it comes to investing,
Speaker 6: I'm like, this is actually going to be fun.
Speaker 2: So when you're going to ask me investing questions.
Speaker 6: Because I'm more like a mum and pop investor, you
Speaker 6: know all this shit saying that out the back. I
Speaker 6: have made some good investments, but in your own fit,
Speaker 6: Yeah no, not really my I.
Speaker 3: Didn't feel like, no, no.
Speaker 6: Fashion is not a good place to actually invest, but
Speaker 6: real estate is.
Speaker 2: So I don't know.
Speaker 6: I think you have to have a lot of risk
Speaker 6: taking abilities. I don't even know the actual word for
Speaker 6: it to actually go to shares and stuff.
Speaker 2: Am I wrong? Yes and no? Yes or no.
Speaker 3: It's kind of like a spectrum. There are like, say
Speaker 3: for shares and more risky shares, and it just really
Speaker 3: depends on what your risk profile.
Speaker 2: Okay, that's already risky. Do you like that's fun? Anything
Speaker 2: to deal with.
Speaker 4: Before we get into all the fun investing stuff, Victoria,
Speaker 4: I'd love for you to tell us a little bit
Speaker 4: more about you and what you do, because I think
Speaker 4: you have such a fun background and I want everyone
Speaker 4: else to know a little bit more about it.
Speaker 6: Okay, I was thinking about this because it's so I'm
Speaker 6: essentially what people call it slashy, which is what my
Speaker 6: generation is known for doing multiple things. Bottom line is
Speaker 6: I am a fashion editor, so I do a bit
Speaker 6: of styling. Still I do you know style expert. I
Speaker 6: do commentary on style, but for Channel ten and Studio ten,
Speaker 6: I essentially edit fashion. And I think anybody on Instagram
Speaker 6: or somebody that works on social media, with any so
Speaker 6: of platform, you kind of have your own publication. So
Speaker 6: since I work in style and I do work on
Speaker 6: Instagram and with my social media presence as well as
Speaker 6: television and media, I do kind of feel I edit
Speaker 6: a publication and I treat it like that because I
Speaker 6: have pillars of content. So if you come to my
Speaker 6: page today, if you go on there, you'll see me
Speaker 6: strutting in a leopard outfit. So that's my editorial. You're
Speaker 6: just there for the looks of fashion. Some days you
Speaker 6: come on and I tell you how to style, so
Speaker 6: I teach you about trends and what's trending or how
Speaker 6: it's style a particular piece. Other times I take you
Speaker 6: shopping with me, and I think people actually love that
Speaker 6: one because I do affordable brands, and I think most
Speaker 6: people don't actually like going into store and digging and
Speaker 6: seeing through all those things, so they would rather watch
Speaker 6: somebody trying on all. So those are my different pillars.
Speaker 6: And sometimes I throw in kids, but you know, they're
Speaker 6: very hard to wrangle, so.
Speaker 2: Very few and far between. Basically, so you're a woman
Speaker 2: that does it all. She also used to work for MTV,
Speaker 2: Like are you kidding?
Speaker 3: I know what you're about to do, and I'm about TV.
Speaker 6: That is kind of what I used to put on
Speaker 6: my resume to actually get more jobs.
Speaker 2: I was what you call it glorified.
Speaker 6: In turn, really waiting, does anybody remember MTV TRL or
Speaker 6: my kind?
Speaker 2: I'm still in my thirties, I'm not that old.
Speaker 6: Yeah, So that and Channel V were the only things
Speaker 6: available at that time apart from Channel ten, Channel seven,
Speaker 6: Channel nine. So if you actually ever thought of working
Speaker 6: in the media, And I know you work at ten now,
Speaker 6: but MTV and Channel V were the only places you
Speaker 6: could imagine me fifteen years ago. Now everything's changed. But yeah,
Speaker 6: I kind of was. I tried out, you know, maybe
Speaker 6: I was on air like six times. It was like
Speaker 6: glorified in But I tell everybody I got my start
Speaker 6: on MTV TRL.
Speaker 3: I think I'm having to tell everybody that because it's
Speaker 3: the truth. Don't downplay that a little bit of the truth, right, So,
Speaker 3: your relationship with your career history not as positive as
Speaker 3: maybe your current relationship with money, which I want to
Speaker 3: know about. Tell us what's your current relationship with money about?
Speaker 6: I would say I have a good relationship with money
Speaker 6: because like with every relationship, oh my god, I'm going
Speaker 6: to start I'm sounding like every time I grab a microphone,
Speaker 6: I start sounding like Oprah because obviously I was raised
Speaker 6: at that time where you got her advice. Now, I
Speaker 6: think every relationship with money, with food, with clothes, whatever
Speaker 6: is kind of directly reflected on the relationship you have
Speaker 6: with yourself, which is the most important relationship basically, So
Speaker 6: how much are you willing to back yourself, support yourself,
Speaker 6: be there for yourself? So I think I've had a
Speaker 6: few things go on with my life, and I think
Speaker 6: I have a relationship with myself, Like I trust myself.
Speaker 6: I know, like I'm not perfect by any means, but
Speaker 6: I'll always back myself. So in that sense, I trust
Speaker 6: myself more with money. If you know, what does that
Speaker 6: make sense?
Speaker 3: What does that look like though, like in your day
Speaker 3: to day life, What does trusting yourself more with money
Speaker 3: look like?
Speaker 2: I know myself very much.
Speaker 6: I know I don't go to bed listening to murder podcasts,
Speaker 6: so I am very risk adverse.
Speaker 2: I'm kind of a boring You can.
Speaker 3: Just do true crime like no one dies.
Speaker 6: But I love it because it says a lot about
Speaker 6: a person. I'm like completely the opposite. I need something
Speaker 6: soothing and calming, and my investments need to be small.
Speaker 6: I don't care if I don't make a big win
Speaker 6: like some people would be like, I'm going to put
Speaker 6: down a lot of money because I'm going to take
Speaker 6: a chance at making a big amount back. Now I
Speaker 6: say I had twenty thousand dollars to my name, I
Speaker 6: would rather invest two thousand dollars.
Speaker 2: Rule of thumb, never invest.
Speaker 6: More than you can afford to lose, and what you
Speaker 6: think you can afford to lose is obviously different for everybody.
Speaker 2: So for me, even if.
Speaker 6: I had twenty thousand dollars, I would personally not want
Speaker 6: to lose more than let's.
Speaker 2: Say four, okay four not two four.
Speaker 3: But yeah, actually like using this example and you're like,
Speaker 3: hold up, got to make it real.
Speaker 6: I got to make it really I am because I'm
Speaker 6: very Yeah, so I make small steps, but you're talking
Speaker 6: about small steps. You encourage that, So that's kind of
Speaker 6: how I am. So I listened to like classical music
Speaker 6: before bed, and I know she's gonna grow up well balanced,
Speaker 6: you know, just to like really calm down.
Speaker 2: And that's literally how I invest slowly and but surely basically.
Speaker 3: I'm so glad I have a podcast because otherwise I
Speaker 3: would have been a serial killer.
Speaker 4: So good talking about investing. You mentioned crypto before, which
Speaker 4: is very fun. Are you investing in anything else? And
Speaker 4: if you are, what does that look like?
Speaker 2: You just property? I am investing.
Speaker 6: I think it might be maybe because I'm a child
Speaker 6: of immigrants, and I think when we came here, the
Speaker 6: biggest thing you could do was buy a piece of property,
Speaker 6: so you stake some ownership, and like I think My
Speaker 6: parents instilled that on me, so I started investing property
Speaker 6: really young. It's just that now, with the way the
Speaker 6: market is, it's kind of it did pay off, although
Speaker 6: you haven't said that. A few years ago, I did
Speaker 6: buy a property that was a complete waste of my time.
Speaker 2: So it's not.
Speaker 6: Always a win if you go the property route basically,
Speaker 6: so you lose some, you win some. That's what my
Speaker 6: investing looks like.
Speaker 2: Property.
Speaker 3: How did you decide property? Because you said before your
Speaker 3: child of immigrants, was that always in your financial future?
Speaker 3: Because I feel like immigrants obviously coming to Australia, that's
Speaker 3: really challenging, and I think a lot of them think
Speaker 3: maybe properties are pipe dream there exactly Australia exactly. But
Speaker 3: did you ever think that that would be you?
Speaker 6: To be honest, I have to say this is completely
Speaker 6: my mother. So she did everything, and I remember the
Speaker 6: only reason I actually could afford to buy property back
Speaker 6: then is I did a panting I know, I pulled
Speaker 6: my hair back, but I did a panting commercial.
Speaker 2: I think fifteen.
Speaker 6: Years ago that I was and that's time they used
Speaker 6: to pay you big money and buy big money. I mean,
Speaker 6: like I think they paid me fifteen grand for that camp.
Speaker 6: I know money, Yes, yeah.
Speaker 3: For fifteen grand I know, you don't understand.
Speaker 2: I actually thought I had died.
Speaker 6: I had never seen and I was so young, well
Speaker 6: since I am eighteen now is probably three then, and
Speaker 6: so I honestly thought, oh my god, I had never
Speaker 6: seen that much money in my life. And instantly my
Speaker 6: Mom's like, no way, this is going to go down
Speaker 6: the crowber. So I got the first homeowner's grant and
Speaker 6: with that and then I could buy something that was
Speaker 6: like kind of property. I think I bought it for
Speaker 6: almost It wasn't even three hundred thousand, but that was
Speaker 6: a substantial kind of deposit and literally no shit.
Speaker 2: That set me up for everything.
Speaker 5: You could leverage the equity exactly that.
Speaker 2: You know.
Speaker 6: I'm hopeful that with my kids we can do that.
Speaker 6: I don't even think it's possible anymore, the way real
Speaker 6: estate is going. But that genuinely gave me such a
Speaker 6: boost and even the way I feel about myself having
Speaker 6: that kind of you know, equity, kind of thing asset
Speaker 6: just gives you having I just think as a woman,
Speaker 6: having some cash behind you does for sure change the
Speaker 6: way you feel and carry yourself.
Speaker 2: Gives you some extra confidence for sure.
Speaker 3: I am the world's biggest advocate for an emergency fund
Speaker 3: Have you always had one?
Speaker 1: No?
Speaker 6: Right, I'm not gonna lie to emergency funds. That is
Speaker 6: a different rel because I would honestly say some cash.
Speaker 2: And then I'm going to be like, oh my god,
Speaker 2: I love this.
Speaker 6: Katia bracelet, you know, and then but speaking of a
Speaker 6: luxury fashion, Catia Bracelet's actually increase in value every single year.
Speaker 5: If you back five to ten years ago.
Speaker 3: I had a.
Speaker 2: Problem with Chanelle. Sorry this sounds I don't.
Speaker 3: I will take what you've got.
Speaker 6: It's not that on your Instagram. I just I don't
Speaker 6: know something about Chanel. I don't know what it is.
Speaker 6: It's just that's the only thing I don't.
Speaker 2: I don't know why.
Speaker 6: I've tried to like see a therapist. And I'm not
Speaker 6: even joking.
Speaker 3: I just tried to see a therapist.
Speaker 6: No, no, I just can't bring myself to spend eleven
Speaker 6: thousand dollars on a classic and I have spent money
Speaker 6: on luxury. I don't even Seriously, if you follow me,
Speaker 6: you know I've burned some serious cash.
Speaker 2: But I can't do it on Chanel.
Speaker 5: Isn't that so interesting?
Speaker 3: I came to my own show to be attacked. I
Speaker 3: bought one Chanelle one.
Speaker 5: I love it, and I bought it.
Speaker 3: I will have you know.
Speaker 6: Because I saw that fight and I was like, oh, no,
Speaker 6: we're going to talk. But I swear to god, I
Speaker 6: saw on your Instagram together.
Speaker 2: I'm like, oh, she like Chanelle.
Speaker 3: And she's me because of the Murder podcast. But she
Speaker 3: needed therapy because of the Chanel Why.
Speaker 4: Okay, I'm just not being attacked because I can't afford it.
Speaker 2: So what about your emergency fund?
Speaker 5: No ah, yeah, but it's not in Chell.
Speaker 2: Okay. Last thing about Chanel though, no jokes, this is
Speaker 2: how are you talking about it? Because it's five years ago.
Speaker 6: The Chanel bag cost six thousand, five hundred dollars. It
Speaker 6: costs eleven thousand dollars today. Said so, and that's when
Speaker 6: you think about it.
Speaker 2: You're like, oh still.
Speaker 3: No, okay, okay. So I get from an investment perspective,
Speaker 3: and I'm not here defending this channel, but what I
Speaker 3: am saying is I actually I get a little bit
Speaker 3: equ when people justify fashion like purchases like a handbag
Speaker 3: or something along those lines, when they say, oh, but
Speaker 3: it's an investment. Because if i'm buying something, I'm buying
Speaker 3: it to use it, and therefore, if I use it's
Speaker 3: probably gonna get broken because it's me and I just
Speaker 3: I go, is that actually an investment? So, as a
Speaker 3: fashion editor, as somebody who works in that space, would
Speaker 3: you classify fashion as an investment?
Speaker 6: I think you can invest your money better, honestly. But
Speaker 6: it brings me so much joy that I think it's
Speaker 6: a bit of invest in my personal.
Speaker 2: Care and self care.
Speaker 6: But I do think some items I wouldn't encourage that
Speaker 6: you go this way. I'm sure the better place is
Speaker 6: to put five thousand dollars in smarter ways of using it.
Speaker 2: But I do have to say, I'm like a big
Speaker 2: jewelry person.
Speaker 6: Or maybe again I've spoken to myself about it and
Speaker 6: convinced myself.
Speaker 3: About the self or your therapist.
Speaker 2: Myself.
Speaker 6: But again, I like good jewelry, and I feel like
Speaker 6: jewelry it could be handed down like to kids, to
Speaker 6: your children for generations. And again, if I actually ever
Speaker 6: wanted to sell one of my Katia.
Speaker 2: Bracelets, I would get the exact.
Speaker 6: Same amount of money back for them, maybe give a
Speaker 6: take a few hundred dollars because I take care of them.
Speaker 2: You know what I mean.
Speaker 6: I'm one of those people that I would prefer to
Speaker 6: kind of save up and buy a good piece rather
Speaker 6: than buying many crappy little pieces.
Speaker 4: Do you know I find really interesting when it comes
Speaker 4: to jewelry, this is so far off the topic of investing.
Speaker 5: I'm very sorry.
Speaker 3: In the script we've just gone rogue. I can see
Speaker 3: it where we can stay broke.
Speaker 4: I find it really interesting how you said that you
Speaker 4: can buy a beautiful piece and you can wear it
Speaker 4: all the time and you can pass it down, And
Speaker 4: that's a really common thought with jewelry, and I think
Speaker 4: it's super interesting that we don't feel that way about
Speaker 4: our clothes and the element of fast fashion that comes
Speaker 4: into that, because if you buy a beautiful piece of clothing,
Speaker 4: you could do the same thing. Theoretically, you could wear
Speaker 4: it all the time and you could pass it down
Speaker 4: to your children.
Speaker 2: I'm not that rich.
Speaker 6: No, I just cotton this cotton silk silk like again,
Speaker 6: and maybe another thing I need to discuss with my therapist.
Speaker 6: But no, you can't convince me of that because I
Speaker 6: just feel how much better is your the law? Then?
Speaker 6: I understand the craftsmanship, right, But sometime I think it's
Speaker 6: about a seven hundred percent increase on what it really
Speaker 6: is and essentially you are.
Speaker 2: Just paying to wear the label, do you know what
Speaker 2: I mean?
Speaker 3: Totally?
Speaker 6: And if you can and it brings you joy, do it,
Speaker 6: but don't get into debt trying to check you.
Speaker 2: Do you know what I'm saying?
Speaker 6: If you can afford it, why not, Like, if it's
Speaker 6: not gonna do anything bad to your money situation, do it.
Speaker 6: But it's not something that you should chase thinking it's
Speaker 6: going to change your life and make you feel better
Speaker 6: about yourself.
Speaker 2: It's maybe an adictua when you actually do it, but
Speaker 2: it's not.
Speaker 3: I mean, there's an overlaying conversation about ethics and how
Speaker 3: it's sourced and all of that, and we could go
Speaker 3: on and on about that, but I want to put
Speaker 3: that part of the conversation to the side for now
Speaker 3: and ask you a little bit before we get back
Speaker 3: on track, a little bit about the fashion investment pieces
Speaker 3: you think we should be getting right, Because there are
Speaker 3: some things that you go you should spend money on Chanel,
Speaker 3: and there are some things that you shouldn't spend money on,
Speaker 3: Like if you were constructing a wardrobe and you were
Speaker 3: like you know what I need a basic white T shirt?
Speaker 3: Are those the things I should splurge on? Or should
Speaker 3: I be getting the cheap white T shirts and going
Speaker 3: with the expensive genes? Like where should I be channeling
Speaker 3: my money? Because I need this advice?
Speaker 6: Okay, So I'm a big proponent of people having a
Speaker 6: curated wardrobe, or at least having a capsule specifically for you.
Speaker 6: And I know people go a capsule wardrobe and everybody's
Speaker 6: supposed to have the same thing. Not true, because a
Speaker 6: capsule wardrobe means you have in essential pieces in your
Speaker 6: wardrobe essential.
Speaker 2: To your life. So your capsule wardrobe will.
Speaker 6: Be different from mine, different from somebody that's a stay
Speaker 6: at home mum, different from somebody that works corporate. You know,
Speaker 6: we all need the essentials in those wardrobes will all
Speaker 6: be very different.
Speaker 2: Right.
Speaker 6: But I do feel if there is an item of
Speaker 6: clothing that you consistently wear every day, for example, say
Speaker 6: you wear a white shirt. Right, I'm not saying go
Speaker 6: spend thousands of dollars in a white shirt, but do
Speaker 6: get a good quality one because going and buying it cheaply,
Speaker 6: washing it a couple of times, you're going to have
Speaker 6: to repurchase sometimes when you buy something cheap, you're going
Speaker 6: to have to I don't like saying cheap.
Speaker 2: I like saying less than expensive. It sounds better.
Speaker 6: If you buy something less than expensive, you have to
Speaker 6: really think about what it is because if you have
Speaker 6: to keep repurchasing, it doesn't make any sense.
Speaker 2: Do you understand?
Speaker 6: So if there's an like if you are wearing a
Speaker 6: leather jacket every single day, then buy a good one.
Speaker 6: You know that actually starts with vegan leather is another thing,
Speaker 6: but let's not go there.
Speaker 2: That's the best marketing vegan leather.
Speaker 3: It is vinyl, it's plastic, vinyl, it's plastic, it's final.
Speaker 3: I've looked into this.
Speaker 1: Let it.
Speaker 2: But that's a good marketing spin. But let's not you know.
Speaker 3: Have you seen the vegan silk recently? Yes?
Speaker 2: What is it?
Speaker 3: I was trying to find something on I think it
Speaker 3: was a door beauty the other day, and I was
Speaker 3: like in the beauty sleep section because I was looking
Speaker 3: for like a new I'm asked for travel. Long story short.
Speaker 3: I could go on about this all day. And they
Speaker 3: were like vegan silk like pillowcases, and I was like, Jesus,
Speaker 3: ninety dollars, No, it's like just satin. That's that's a
Speaker 3: four dollar pill.
Speaker 2: No.
Speaker 6: Absolutely, marketing has gotten so good. Anyway, we digress because
Speaker 6: we can go.
Speaker 4: I'm gonna shift us back on track for the benefit
Speaker 4: of everybody listening.
Speaker 3: Hold on, hold on. So if I wear it every day,
Speaker 3: you can invest in it. I could wear a Schnell
Speaker 3: in the office.
Speaker 4: We've spoken about investing in houses and crypto and fashion,
Speaker 4: but something we talk about a lot as well is
Speaker 4: investing in yourself. And I want to ask you, what
Speaker 4: is the best investment that you feel like you've ever
Speaker 4: made in yourself that isn't necessarily, you know, a monetary share.
Speaker 6: Oh my god, watching Oprah all the time I was
Speaker 6: growing up.
Speaker 2: No, that was a good investment.
Speaker 3: And everybody gets a cup, but not really weird'rectly don't
Speaker 3: want me. I can't afford it.
Speaker 6: Best investment in myself, I kind of there was a
Speaker 6: stage in my life where I went not anymore. Maybe
Speaker 6: I should go back to seeing the therapist. Obviously I
Speaker 6: still have unresolved issues, don't I. It sounds like a
Speaker 6: witch for sure.
Speaker 5: For sure.
Speaker 3: I think we both need to work on that, because
Speaker 3: it turns out I do too.
Speaker 6: To be honest, I think the most Oh this is
Speaker 6: going to sound so trying, but yoga.
Speaker 2: Oh my god, I want good. I swear to you.
Speaker 2: I'm not a very physically.
Speaker 6: I don't love to exercise, but I love hot yoga,
Speaker 6: right And I think when I was actually kind of
Speaker 6: looking for ways to get fit and get calm and
Speaker 6: medit medicated, meditated, Oh.
Speaker 3: I just got Yeah.
Speaker 6: That was a really because you're so tired and burn
Speaker 6: out when you come out that you're like, you feel
Speaker 6: completely zin and it's almost because you're barely hanging onto life.
Speaker 6: But that worked for me, and I think that physical
Speaker 6: that investing inself.
Speaker 2: Oh my god, I'm sounding like a.
Speaker 5: Podcast one podcast one time.
Speaker 2: For my first podcast, is it. I'm not gonna lie.
Speaker 3: There's nothing I could think of that is worse than
Speaker 3: hot yoga that turns.
Speaker 2: Really.
Speaker 3: I have been once and they were like, oh, welcome, rarah,
Speaker 3: this is gonna be like I think it's like a
Speaker 3: ninety minute session, right too, It isn't. I walk in
Speaker 3: and I just think I'm hot shit because I'm so
Speaker 3: good at yoga at this point in my life, and
Speaker 3: I'm like great, So I get on my mat and
Speaker 3: I've got my water and I'm wearing like shorts because
Speaker 3: it was going to be hot, and they're like, you
Speaker 3: know what, to take it slowly. It's very different normal yoga.
Speaker 3: I had so many tickets. I was like, it's fine,
Speaker 3: it's fine, it's it'll be all good. And they were like,
Speaker 3: head straight away, just lay down if you're feeling a
Speaker 3: little bit dizzy. And I was like, okay, no worries,
Speaker 3: And like eighty five minutes of that ninety session, like
Speaker 3: I sat on the floor and I was so embarrassed everybody.
Speaker 3: Even before I got off and left, I was like,
Speaker 3: I'm not seeing them in the locker area that I'm
Speaker 3: never coming back.
Speaker 2: But I think there is something to that, because I
Speaker 2: think the fact.
Speaker 6: That your spirit is actually leaving your body actually makes
Speaker 6: you feel like.
Speaker 5: Weight off your shoulders, my spirit.
Speaker 3: You're meditated after that.
Speaker 6: No, but that's the only and I think actually investing
Speaker 6: in that and kind of investing in time to do
Speaker 6: that actually was for a period of my in my life,
Speaker 6: was actually very helpful to me. But generally, I always
Speaker 6: feel women especially should take time to find what is
Speaker 6: that thing that could help them feel healthy, thing feel.
Speaker 2: Better about themselves.
Speaker 6: Just you know, I don't like saying you know, and
Speaker 6: I don't want it to be like a face mask
Speaker 6: and a hair thing, because that's topical. You can do that,
Speaker 6: but something you know from the inside of physical fitness meditation, and.
Speaker 3: I feel like that's different for everybody. I think when
Speaker 3: I was a bit younger, and this is why I
Speaker 3: went to hot yoga because everybody else was doing it,
Speaker 3: and I was like, oh my gosh, I want to
Speaker 3: be like those Instagram girls that have Chanel bags and
Speaker 3: go to hot yoga. And I got halfway there with
Speaker 3: one Chanel bag and one session of hot yoga. However,
Speaker 3: I think it is really different for everybody. But I'm
Speaker 3: consistently still looking at other people and being like, oh,
Speaker 3: Jess winds down like this, Oh Victoria winds down like that.
Speaker 3: Maybe I should try it, And I think I need to.
Speaker 3: You know, this is a good reminder to look a
Speaker 3: little bit further in and be like, well, what works
Speaker 3: for me, because you know, Jess and I this year
Speaker 3: have probably had our busiest year, and like, we are
Speaker 3: so grateful for it, we're so excited about it. But
Speaker 3: what I learned this year it's so lame, is that
Speaker 3: sometimes switching off for me isn't actually about going and
Speaker 3: doing pilates with my girlfriends and getting a coffee. It's
Speaker 3: actually spending an extra hour in bed in the morning
Speaker 3: scrolling on TikTok because I feel like I've completely switched
Speaker 3: off and I'm okay with that now, Whereas before I
Speaker 3: think I would look at it and be like, oh,
Speaker 3: I'm wasting so much time. But I'd be like, oh,
Speaker 3: but I spent this hour just doing something mindless and
Speaker 3: kind of disconnecting from my responsibilities and my inbox and
Speaker 3: my social media, and I feel like all of that
Speaker 3: can be all consuming. So as much as it's nice
Speaker 3: to do really bougie things which are so fun, do
Speaker 3: not get me wrong, that.
Speaker 2: Is not bougie.
Speaker 3: It sounds like something rich mums do. If you live
Speaker 3: in tour, I can drive and range for ever. Ah yeah,
Speaker 3: when I drop that kids off, I've got my chrome
Speaker 3: ut ten.
Speaker 6: No, I actually did bigger at six thirty when my
Speaker 6: husband gets home. I used to love doing the TikTok thing.
Speaker 6: But do you think that actually kind of well, do
Speaker 6: you have a different psyche? Obviously, we'll just discussed that.
Speaker 6: It actually winds me up watching TikTok like I try
Speaker 6: to do winds you up, winds me up. I get
Speaker 6: into all this comedy things and I just kind of like,
Speaker 6: can't sleep, can't RelA.
Speaker 3: I get into the side of TikTok, which has murder.
Speaker 2: Like true crime people.
Speaker 3: There was that TikTok thing recently? Was it recently? It
Speaker 3: was like a year ago where they found a body
Speaker 3: in a suitcase and I was one of the ones
Speaker 3: to see the first video and I thought it was
Speaker 3: a hoax, but it wasn't.
Speaker 4: I actually did And this is what I had to
Speaker 4: sleep listening to while we were on This.
Speaker 3: Is where we're at. Jess and I are very different.
Speaker 3: What side of TikTok are you on?
Speaker 1: Jess?
Speaker 4: The side that my boyfriend will show me on Instagram reels.
Speaker 4: Three weeks later, Hey, mab, look at this cool video.
Speaker 3: I just founded on myself.
Speaker 2: Actually we need to be nice. Dreams is here? Sorry?
Speaker 5: Sorry?
Speaker 3: I want to know. You mentioned before that you have kids,
Speaker 3: which is very lucky, But I want to know where
Speaker 3: she's on the money. How are you teaching them about
Speaker 3: money in twenty twenty two.
Speaker 2: I am not, but I'm about to start.
Speaker 6: We have this thing going so every birthday or every Christmas,
Speaker 6: they usually get some cash from the grandparents. So we
Speaker 6: have opened an account. Can I say a bank? Are
Speaker 6: you sponsored by somebody?
Speaker 3: No, you can't say what we want even if we
Speaker 3: don't sponsored, like we don't have like normal case.
Speaker 6: You know, just in case you wanted me to say
Speaker 6: a specific bank, because it doesn't matter.
Speaker 2: The bank of Victoria.
Speaker 5: We'll drop in Victoria the other Victoria's voice.
Speaker 2: Over Influence by Trade.
Speaker 3: Jess is our partnership's manager. In every contract. She you
Speaker 3: cannot keep us like we will talk about whatever we
Speaker 3: want to otherwise go away.
Speaker 6: That was a good opportunity. But anyway you lost at
Speaker 6: so let me and I let it go. We okay,
Speaker 6: So we've set up something.
Speaker 2: We come bank. It's I think somebody was telling me there's.
Speaker 6: An actual program that compounds the interest that over time,
Speaker 6: which I think is absolutely amazing. So we kind of
Speaker 6: initially started. We're depositing some money. We haven't if I'm
Speaker 6: being honest, we haven't continued because we would have to
Speaker 6: go to the bank and deposit with you. But we
Speaker 6: did start. So there is about fifty bucks in one
Speaker 6: and I think thirty five in.
Speaker 3: The other, So they're gonna be rich, no dead.
Speaker 6: I know my mom helped me buy a property, and
Speaker 6: I'm like thirty five bucks, fifty.
Speaker 2: Kids going far? Gee.
Speaker 6: I hope my husband starts to listen to this. Yeah so,
Speaker 6: but that's kind of what we've actually started doing. But
Speaker 6: they're also six and four, so you can't really teach them.
Speaker 6: I think maybe in a year or two, I'm going
Speaker 6: to start, you know, spending money now, okay, really enjoyed that.
Speaker 3: We all know. What's okay?
Speaker 6: I can't see is that the softlika Okay.
Speaker 2: Yeah, partner.
Speaker 3: If you guys hear her on the podcast, she's Kate
Speaker 3: the mortgage broker.
Speaker 2: She runs Zella money.
Speaker 3: She won't forlong and with this attitude.
Speaker 6: No, I think in a couple of years we'll teach
Speaker 6: them about because now it's just Christmas every day.
Speaker 2: Mom, I want this.
Speaker 6: You'd never actually want to go anywhere with them because
Speaker 6: they don't get it.
Speaker 2: There's no concept of that at the moment.
Speaker 6: But I think maybe in two three years, my daughter
Speaker 6: is going to start understanding that if she spends her
Speaker 6: fifty bucks that she got for Christmas, she's not going
Speaker 6: to have any money to buy that extra barbie or that,
Speaker 6: you know, because it's gone. You know.
Speaker 5: I didn't learn that until I left home.
Speaker 3: Oh, I was a bit the same actually, Like my
Speaker 3: parents did a lot to try and educate me around finances,
Speaker 3: but I was not having it. That was not cool.
Speaker 3: Caring about money not cool.
Speaker 6: I had no choice because we had Like obviously, as
Speaker 6: I said, I actually came here from I'm half Russian, sorry, Ukrainian.
Speaker 6: I was Russian six months ago. Now I'm half Ukrainian
Speaker 6: because obviously the war. I was born in Odessa and
Speaker 6: my father's Nigerian, so I kind of have lived in.
Speaker 2: Both those places.
Speaker 6: And when we came here, the education about money I
Speaker 6: got was actually watching people work really hard for money.
Speaker 6: So it was kind of innate. It just happened. I
Speaker 6: saw it. It wasn't ever going to be wasted. I
Speaker 6: don't know if I learned that well, because I still
Speaker 6: kind of waste money if you think about it. My
Speaker 6: mom thinks I'm the worst. She's like, you spent what
Speaker 6: like or you did that? You know, she can't wrap
Speaker 6: her head around it. But yeah, I think it's what
Speaker 6: you grow. It's so funny what you get. Some people
Speaker 6: in my that would have had that kind of upbringing
Speaker 6: will probably you know, save a lot of money and
Speaker 6: kind of be a bit more stringent. But not Victoria.
Speaker 6: She's a libra. She goes from one side to the other.
Speaker 6: We're saving, and we're blowing it. We're saving, then we're
Speaker 6: blowing it.
Speaker 3: You know the balance Well, the Victoria the cancer is
Speaker 3: a do what she says, not what she does kind
Speaker 3: of goal.
Speaker 2: Thanks for outing the schnelle.
Speaker 3: By the way, that was like the biggest purchase I
Speaker 3: ever made. And do you know what, You've got to
Speaker 3: make your money back your couple don't want to make
Speaker 3: my money back. I want to keep my back.
Speaker 6: I'm telling you, if everything's burning down, run out of
Speaker 6: the house with that bag is still going to be Seriously,
Speaker 6: you're going to have your money. And I just want
Speaker 6: to know how high you can get, like literally, how
Speaker 6: much money you're going.
Speaker 2: To pay for a bag with four sides of leather?
Speaker 3: Like I don't know because I'm on the side of TikTok.
Speaker 3: I don't know if anybody else is on this side.
Speaker 3: I don't know how I got there because I can't
Speaker 3: afford it, but I'm on burken TikTok. No no no, no, no, no, yeah, no,
Speaker 3: you'll accept I'm ready for it.
Speaker 6: I don't know there's a thing which you now I
Speaker 6: have to go regressive therapy.
Speaker 2: All right, you do it?
Speaker 3: Why is the Burken? Okay?
Speaker 2: Then it's just so cute.
Speaker 3: I just don't understand the concept.
Speaker 2: Buy heaps of stuff from a.
Speaker 6: No that they're light to you. I think they're like
Speaker 6: not everybody has to do that.
Speaker 3: Oh you would just get a Burken?
Speaker 1: Not me.
Speaker 2: I say, yeah, but I'll tell you in a year.
Speaker 6: But sometimes sometimes you just walk in and like somebody
Speaker 6: sees you, like the Mez gods are like, okay, we'll
Speaker 6: give her one kind of thing and you out. And
Speaker 6: so I don't even want to get into it because
Speaker 6: this is a whole story where there's person She's like
Speaker 6: somebody on TikTok, like literally had to get hr involved.
Speaker 6: She was having a mental breakdown because nobody got her
Speaker 6: me's bag. I mean, like, how much time do you
Speaker 6: have on your hands? Like really, I mean she has
Speaker 6: children as well. She was crying and having like this anxiety.
Speaker 2: Attack breakdown over a hand bag.
Speaker 3: Full breakdown anyway, But if you took my Chanell, I
Speaker 3: would have a full breakdown.
Speaker 2: I wouldn't do that too, darling, no.
Speaker 3: Because you don't want it. Jess though you'd take a chanelle.
Speaker 4: Oh yeah, if the house was burning down, I'd take
Speaker 4: the chanelle and I'd probably leave you.
Speaker 3: I think that's very price to leave it, Miss Jessica Ricci.
Speaker 2: What do you reckon?
Speaker 3: Should we wrap these show? Because I actually want to
Speaker 3: get out there and meet all of you. Come join
Speaker 3: us on Instagram, follow Victoria on Instagram. I want to
Speaker 3: say another special thank you to you. You are an
Speaker 3: absolute delight and arguably my new best friend. So I'm
Speaker 3: very excited about it. Yeah we are. We walked in
Speaker 3: and I was like, is that it? And she was
Speaker 3: like yep, and I was like, oh, anyway, thank you. Also,
Speaker 3: thank you to our gorgeous interpreters who have made this
Speaker 3: event super super special. A massive thank you to the
Speaker 3: people who trusted me right not one, but two books, Penguin,
Speaker 3: Random House, and to Feign for putting these events on
Speaker 3: for us who would have thought.
Speaker 5: Thank you for coming.
Speaker 4: We hope you had a good time and you guys
Speaker 4: will get to maybe here your laughs definitely.
Speaker 5: You Kate are on the
Speaker 4: Podcast in a couple of weeks, so have a fantastic
Speaker 4: night and we'll see you all out there,