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Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yr

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Speaker 1: the Order Kerni Whoalbury and a waddery woman. And before

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Speaker 1: we get started on She's on the Money podcast, I

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Speaker 1: would like to acknowledge the traditional custodians of the land

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Speaker 1: of which this podcast is recorded on a wondery country,

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Speaker 1: acknowledging the elders, the ancestors and the next generation coming through.

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Speaker 1: As this podcast is about connecting, empowering, knowledge sharing and

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Speaker 1: the storytelling of you to make a difference for today

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Speaker 1: and lasting impact for tomorrow.

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Speaker 2: Let's get into it.

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Speaker 3: She's on the Money, She's on the Money.

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

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Speaker 2: millennials who want financial freedom. Today is Friday, my Friends,

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Speaker 2: which means it is time to sit back with the

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Speaker 2: girls with a bevy in hand and unpack our favorite

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Speaker 2: moments from the week, and of course, as always, to

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Speaker 2: celebrate you how beautiful She's on the Money community. As always,

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Speaker 2: we're going to be sharing our favorite money wins or

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Speaker 2: Georgia King Wilbey. They will be chiming in intermittently. We'll

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Speaker 2: discuss what's making news in the finance world and we're

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Speaker 2: going to be helping to answer a very juicy money question,

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Speaker 2: which this week is about a sneaky shopping addiction my

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Speaker 2: friends relatable. But first it's time to recap the week

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Speaker 2: that was Miss Jessegorid. She talked to us what happened

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Speaker 2: on this week's money diary.

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Speaker 4: This week's diarist was really interesting because she works in

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Speaker 4: the sex industry, and she spoke to us a little

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Speaker 4: bit about growing up and she lived in public housing

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Speaker 4: and then she became a single mom and went through

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Speaker 4: some challenges in terms of her finances that then she

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Speaker 4: was able to mitigate at a relatively young age by

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Speaker 4: entering the sex work industry.

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Speaker 5: The thing that I found really interesting.

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Speaker 4: About that was talking to her about what it's like

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Speaker 4: balancing her work with being a mum of two kids,

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Speaker 4: because obviously, in your head, do you go those are

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Speaker 4: two things that would be kind of tricky to navigate,

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Speaker 4: particularly because they're a little bit younger, And so it

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Speaker 4: was really cool she was super open with us about

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Speaker 4: what that looks like and how her lifestyle roles and

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Speaker 4: how it was something that she kind of found and

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Speaker 4: made work for her and what she wanted to do.

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Speaker 2: I think the thing that really threw me the most

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Speaker 2: about that episode is just how blacklisted sex workers are

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Speaker 2: from you know, financial products and actually being able to

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Speaker 2: have clean, clear bank accounts and use payment terminals and

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Speaker 2: stuff like that, because they're seen as being really risky industries.

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Speaker 2: And that just makes no sense to me, because at

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Speaker 2: the end of the day, it's legal work here in Australia.

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Speaker 2: Why wouldn't it be supported in the same way that

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Speaker 2: I can go out and start, you know, a quote

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Speaker 2: consulting business and generate whatever amount of money I want

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Speaker 2: to put through that consulting business and in voice clients.

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Speaker 2: Like arguable, I would have thought it was important to

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Speaker 2: have that because it would keep them safer, right, like,

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Speaker 2: less dealing with cash, more pre payment available, Like at

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Speaker 2: this point, it just seems like that's a really fickle

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Speaker 2: way to work.

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Speaker 4: Someone dm US actually this week and said that, and

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Speaker 4: I don't know that this makes it right, but they

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Speaker 4: said it's often because the industry is linked closely to

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Speaker 4: money laundering, and yeah, which I found super toper interesting.

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Speaker 4: So thank you for damn House and sharing that. But

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Speaker 4: I mean, ultimately to me, that says that they just

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Speaker 4: need more regulation in that space, not necessarily being like

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Speaker 4: you don't deserve payment terminals.

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Speaker 2: Yeah, exactly, And as someone who does have a lot

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Speaker 2: of sex worker clients, like they're making honest money, like

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Speaker 2: they're paying tax, they have their incomes, they have their investments.

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Speaker 2: Some of them are making absolute pain cause you've heard

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Speaker 2: on this podcast before. But it just it baffles me

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Speaker 2: that people like that, who you know, are technically earning

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Speaker 2: an income, paying a lot of tax and contributing to society,

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Speaker 2: they are just put in this basket of like, no,

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Speaker 2: you can't have that because of the type of work

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Speaker 2: you do. Yeah, but I'd argue that we need to

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Speaker 2: do that coal mines and stuff. But that's not my circus,

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Speaker 2: not my monkey. Georgia King, Hello, what happened on our

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Speaker 2: Wednesday deep Dive?

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Speaker 5: On Wednesday? It was our travel Saving Hacks episode, Ladies.

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Speaker 5: It was a lot of fun picking your brain, Vikidi,

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Speaker 5: because obviously the two of you very recently came back

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Speaker 5: from Europe. You had so many hot tips and.

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Speaker 2: We had we did nobody. But she was on the

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Speaker 2: top and I was on the bottom. I'm not just

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Speaker 2: top and tail. No, we did not. We're not that cheap.

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Speaker 2: Like we cheap, but we're not that cheap. But turns

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Speaker 2: out Jess outed me on Instagram this week as well,

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Speaker 2: because it turns out she knew when I was awake

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Speaker 2: in the bunk bed because I can't keep still, so

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Speaker 2: I'd just like slip around, didn't wait everybody was away.

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Speaker 5: Was like being on a ride, like I was on

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Speaker 5: the top, like holding on.

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Speaker 2: That is not true. But here I am thinking like,

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Speaker 2: oh my gosh, I've woken up earlier because I'm usually

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Speaker 2: the first one awake, right, Like I'm that annoying friend

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Speaker 2: that's like, hey, good morning, thirty. What are you doing?

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Speaker 2: Do you want to go out for coffee? And Jess

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Speaker 2: would be like, go away, I'm not talking to you

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Speaker 2: until it's at least eight o'clock and we've all gone

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Speaker 2: out for coffee. But I'd be like, what are you doing?

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Speaker 2: But I thought I was so good. I was like

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Speaker 2: getting up in the morning thing quote really quiet and

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Speaker 2: reading my book. And Jess is like, no, your long,

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Speaker 2: deep size told me that you wanted to be out

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Speaker 2: of it. I'm like, yeah, I did, though, Yeah, yeah,

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Speaker 2: I did want to be out of.

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Speaker 5: How good's traveling with you mates in Lusty?

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Speaker 2: But we did.

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Speaker 5: We learned many hot tips like sharing bunk beds. You

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Speaker 5: told us that fun story about you and a wedding

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Speaker 5: dress on public transport, Let's go with it. So, yeah,

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Speaker 5: there was plenty of fun packed in there and lots

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Speaker 5: of hot tips, so hopefully everyone got some ideas out

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Speaker 5: of it.

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Speaker 2: Be more chill than I am if you're going to

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Speaker 2: share a room with friends, though, apparently would noise them

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Speaker 2: or something. All right, George, let's move on from that.

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Speaker 2: Is time to hear some of our budget direct money wins.

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Speaker 2: What have you got to put on the table for

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Speaker 2: us this week?

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Speaker 5: Some pearlers as always, Girl is the first one comes

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Speaker 5: from erin eight hundred dollar money in. I took my

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Speaker 5: grandma to Bingo on Saturday and we walked out with

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Speaker 5: a jackpot win.

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Speaker 2: Yes quick, I went to Bingo recently. That's hard, Like

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Speaker 2: I can't keep up and find the numbers and like

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Speaker 2: I was like having my finger on one number while

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Speaker 2: finding the next one, Like it just it was a lot.

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Speaker 5: How good is that?

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Speaker 2: Well? I didn't realize how like quick they move. I'm like, sir,

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Speaker 2: I'm not ready, not for next number.

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Speaker 5: The next one. It comes from Michelle. And this is

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Speaker 5: kind of a PSA. It's a really smart idea money whin.

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Speaker 5: I got rid of the tap and go function on

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Speaker 5: my phone. Now I have to physically carry my wallet

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Speaker 5: and remove my card to pay, which means there's an

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Speaker 5: extra few seconds to make sure I'm happy with my

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Speaker 5: purchase decision before I make it. How clever is.

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Speaker 2: That wouldn't work for me. I'd still tap my cup.

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Speaker 2: Why are you laughing?

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Speaker 5: I forget my wallet on the reading.

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Speaker 2: Yeah, not only does she just not bring her wallet places,

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Speaker 2: she just leaves it places as all good. So like

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Speaker 2: that's kind of helpful because like her phone is actually

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Speaker 2: an extension of her arm. At this point, we know

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Speaker 2: that won't go missing. But I don't think that would

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Speaker 2: work for me, because like a card's just as convenient.

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Speaker 4: I mean maybe if you need the physical reminder, like

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Speaker 4: getting out of wallet is more symbolic than your phone,

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Speaker 4: which for a lot of people, not just me, it's

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Speaker 4: always in your hands.

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Speaker 2: The thing that I found curbed my spending was actually

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Speaker 2: using my phone to tap on things. When I use

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Speaker 2: upbank and it tells you what your updated like total

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Speaker 2: is in that account.

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Speaker 5: Yeah, I love that.

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Speaker 2: So it's like, oh, you spend five dollars, now you

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Speaker 2: have four dollars left in your account, Victoria, It'd make

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Speaker 2: me super aware of how much I had and what

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Speaker 2: I was doing with my my weekly funds right, So

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Speaker 2: to me that was helpful. I think the card actually

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Speaker 2: gives me less visibility, and I hate seeing what my

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Speaker 2: account's going down to, so I'm much less likely to

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Speaker 2: tap Yeah.

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Speaker 5: Later on in the show, we are going to be

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Speaker 5: helping a person who's sent in a money to Lemma

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Speaker 5: all about being a shopaholic, so I'm sure we'll have

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Speaker 5: some more tips then.

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Speaker 2: So what else you're gonna bring to the table, GQ.

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Speaker 5: The next wind comes from Jess money Win. When I

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Speaker 5: get paid on Wednesday, I'll finally be able to close

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Speaker 5: my up to pay account. I didn't realize how little

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Speaker 5: control I had over my money from being so very

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Speaker 5: reliant on after pay Zippay is almost finished two. I'm

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Speaker 5: so excited to be in control again. The next week

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Speaker 5: it comes from Katie money Win. I just started shopping

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Speaker 5: at Aldi based on the podcast recommendation, and I am

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Speaker 5: saving it so much on almond milk and regular milk

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Speaker 5: for my daughter. They do not have La Muele Rose

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Speaker 5: in the US, though, Oh waking really we need to

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Speaker 5: advocate for that.

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Speaker 2: Audi, We're not going to work with you till you

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Speaker 2: actually get that in store, because that's a travesty. Speaking

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Speaker 2: of wine from Audi though, remember we did that collab

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Speaker 2: with Unspoken Wines and they sent me some really nice

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Speaker 2: red wines and we're like, yeah, cool, we'll do this.

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Speaker 2: You shot some beautiful content for it. They sent me

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Speaker 2: a box of six. That six is now gone. I

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Speaker 2: now buy that pretty religiously from Audi because I would say,

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Speaker 2: that's stephen my favorite wine. Thirteen bucks a bottle. What

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Speaker 2: a money win.

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Speaker 5: That's pretty good.

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Speaker 2: Honestly, I would pay for that at the Wine by

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Speaker 2: if I saw that on the list, I'd be like, yeah,

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Speaker 2: well and no, I'm going to enjoy it. Yeah, very

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Speaker 2: happy with that. But Audi, pick up your game. Get

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Speaker 2: into the US. That is an untapped market. Some free

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Speaker 2: business advice.

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Speaker 5: From Feeding The next thing guys comes from Shellini money Win.

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Speaker 5: For the first time ever, our bank accounts feel so lush.

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Speaker 5: There's stuff.

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Speaker 2: Lush is a very cute word from saying now.

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Speaker 5: We used to struggle to keep any money saved and

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Speaker 5: it just disappeared. But through doing all the hard mindset

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Speaker 5: work and practical budgeting, this past year. We now have

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Speaker 5: thirty five thousand dollars in our savings and a few

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Speaker 5: thousand in other buckets. That's lush. Seeing that money is

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Speaker 5: actually a bit triggering, So I do need to be careful.

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Speaker 5: We don't self sabotage.

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Speaker 2: Yeah, that's important. That's actually something we don't talk enough

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Speaker 2: about when it comes to financial goals. Maybe we can

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Speaker 2: chuck that on the list of things we talk about,

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Speaker 2: because I am very guilty of self sabotage in general,

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Speaker 2: ask Jess. But when it comes to finances, I feel

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Speaker 2: sometimes I get so close to a goal and then

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Speaker 2: I'll do something that it's in the way of that goal,

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Speaker 2: and you don't mean to do it, but you're also

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Speaker 2: arguably just really worried about what it means when you

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Speaker 2: achieve that thing and you're just not ready for it.

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Speaker 2: That has big, deep dive energy. Yeah, I think, so

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Speaker 2: let's do it. Jess is going to put it on

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Speaker 2: the list for us. Perfect, all right.

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Speaker 5: The next win comes from Bernadette, a money mindset win.

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Speaker 5: This was the first year I haven't immediately spent my

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Speaker 5: tax return on something I didn't need. I put it

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Speaker 5: into my savings account instead.

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Speaker 2: How good's that? That is the best thing I've ever heard.

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Speaker 5: Right, the final win of the day. It comes from

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Speaker 5: Caitlin and it is wholesome. Money lost but life win.

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Speaker 5: I used to live five minutes away from work, which

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Speaker 5: was great for my fuel, but it meant only getting

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Speaker 5: five minute increments of the Shees on the Money podcast

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Speaker 5: in Now I live fifteen minutes away from work, which

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Speaker 5: for me means more Shees on the Money podcast time.

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Speaker 5: Sure there's more money spent on fuel, but hey, now

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Speaker 5: there's more time being able to learn and absorb money

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Speaker 5: information from thee.

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Speaker 2: That is wholesome.

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Speaker 5: That's my safe But I'm Caitlyn.

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Speaker 2: How is it that there some people around Australia that

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Speaker 2: have us in their ears when they're going to work.

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Speaker 5: If you're going to work, I hope you have the best.

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Speaker 2: Before we get to a break. Usually we throw to

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Speaker 2: a break here. I actually have a money win for

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Speaker 2: the community that I tried to share with my family,

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Speaker 2: and my sister was like, yo, Udi knew, But I

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Speaker 2: don't think everybody knows. So if you uady knew, then

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Speaker 2: that's fine. You're two steps ahead of me. But last

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Speaker 2: year you might have heard of the two hundred and

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Speaker 2: fifty dollars Power Saving Bonus, and that's where if you

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Speaker 2: had that concession card or you had some kind of

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Speaker 2: sentlink entitlement, you could upload one of your energy bills

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Speaker 2: and get two hundred and fifty bucks towards it, which

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Speaker 2: is a money win. It's not even credit, it's actual

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Speaker 2: cash that they deposit in your account. Right, so that

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Speaker 2: was a money win last year. Guess what they've brought

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Speaker 2: it back, but no criteria this time. All you have

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Speaker 2: to be doing is be a bill payer. So Jesse,

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Speaker 2: have you already done it?

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Speaker 5: Done it? Cash is in my bank account.

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Speaker 2: Gene is two hundred and fifty dollars rules that if

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Speaker 2: you haven't gone and submitted your energy bill to the

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Speaker 2: Power Saving Bonus, which is a payment scheme for I'm

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Speaker 2: sorry if I've hyped you up, and then I'm going

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Speaker 2: to tell you it's Victorian households only, but it exists

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Speaker 2: to help ease the cost of living pressures and encourage

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Speaker 2: you guys to compare energy offers and save money, which

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Speaker 2: I think is a massive money win. But George, you

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Speaker 2: know my little sister Alex quite well certainly needs to

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Speaker 2: live with her, so we all know she can be

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Speaker 2: a bit of a pest. I sent it to my

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Speaker 2: family group chat, being like, I'm gonna help my sister out.

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Speaker 2: I'm gonna get my parents another two hundred and fifty

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Speaker 2: dollar rules. I'm going to be the favorite child this week. Sure,

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Speaker 2: send it to group chat and Dad's like yeah, great, no, no, Race,

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Speaker 2: thanks so much, And my sister replies like, I already

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Speaker 2: did it. Thanks for sharing with everybody else.

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Speaker 5: We need selfish little girl.

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Speaker 2: Little sisters. They're a different breedge. So it's been great

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Speaker 2: celebrating some of your budget Direct money wins and some

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Speaker 2: of our own and one that is going to absolutely

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Speaker 2: benefit you. So go and submit your energy bills asap.

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Speaker 2: Budget Direct winner of can Stars Insurer of the Year

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Speaker 2: Award twenty twenty two. Budget Direct Insurance Solved. Now we're

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Speaker 2: going to go to a quick break, but stick around

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Speaker 2: because after this we're going to talk a little bit

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Speaker 2: about the merger of Sun Corp and A and Z

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Speaker 2: and we're going to be answering a money dilemma all

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Speaker 2: about someone who has a sneaky little shopping addiction. Don't

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Speaker 2: go anywhere, all righty guys.

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Speaker 4: There has been lots of chatter on the internet this

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Speaker 4: week because as you said before, vd A and Z

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Speaker 4: has agreed to buy sun Corps banking business for four

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Speaker 4: point nine billion dollars. If you don't want that is

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Speaker 4: more delarues than I could ever comprehend. But lots of

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Speaker 4: people talking about it for different reasons, and I know

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Speaker 4: you have your own thoughts on this fee. My immediate

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Speaker 4: question is why would they do this because to me,

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Speaker 4: I mean, you're a bank, they're a bank. It doesn't

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Speaker 4: make much sense for me for them to acquire them

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Speaker 4: outside of the fact that they want more customers. But

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Speaker 4: ultimately that seems like a terrible thing for consumers.

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Speaker 2: I mean for the bank. It's a growth strategy, right, Like,

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Speaker 2: there are a few ways that you can grow as

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Speaker 2: a business. Firstly, there are lots of ways, but like,

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Speaker 2: let's call it very simple. First, there's or gadancre growth

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Speaker 2: where you know, word of mouth happens, or you do

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Speaker 2: some advertising and you get some new customers, and that

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Speaker 2: usually is a bit of a long slog, right Like,

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Speaker 2: you know, your community slowly grows and you get more

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Speaker 2: and more customers over time. The second way you can

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Speaker 2: grow is by acquisition, which is purchasing another business and

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Speaker 2: rolling them in and Therefore you get not only the customers,

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Speaker 2: which would be the biggest draw card, but you also

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Speaker 2: get the staff and the team that looks after that

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Speaker 2: because one of the things, you know, Jess, I think

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Speaker 2: you'd lose your mind if I turned around and said

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Speaker 2: I bought another business to roll into Shees on the money,

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Speaker 2: because I keep doing that in Zella and it's already

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Speaker 2: making you lose your mind. But in She's on the money,

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Speaker 2: if I did that, we just don't have the capacity

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Speaker 2: to look after more things, right, Like we don't have

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Speaker 2: enough staff. So the benefit of acquiring a whole other

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Speaker 2: business is you don't just get the customers, but you

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Speaker 2: get the talent looks after the customers, right. But my

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Speaker 2: question is how many of those talent are going to

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Speaker 2: be negatively impacted? Because when you look at it, Sun

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Speaker 2: Corp has thirteen thous staff across Australia. However, are you

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Speaker 2: really going to need another thirteen thousand staff? Like A

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Speaker 2: and ZED would already have a marketing department. A and

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Speaker 2: ZED would already have a procurement department, Like do you

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Speaker 2: need two of this? Do you need two CEOs? Do

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Speaker 2: you need two cmos?

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Speaker 1: Like?

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Speaker 2: How does that work?

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Speaker 6: Over?

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Speaker 2: Time.

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Speaker 4: If two businesses roll together and let's say mass layoffs happen,

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Speaker 4: which seems pretty probable, is that a redundancy or is.

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Speaker 2: That yeah, they would be made redundant, which is essentially

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Speaker 2: like saying, hey, Georgia, like, we no longer have a

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Speaker 2: place in the business for your role. It's not needed.

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Speaker 2: And what happens in that circumstance, especially in a bigger company,

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Speaker 2: is they do their restructure first, which means they organize

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Speaker 2: their organizational chart, but they don't allocate individuals to that.

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Speaker 2: They say, okay, cool, let's, you know, in a perfect world,

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Speaker 2: map out what this business looks like. And they might

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Speaker 2: look at the accounting department and go, okay, we need

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Speaker 2: a head, we need this, many accountants, we need this,

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Speaker 2: many admin staff, we need all of this to do

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Speaker 2: this amount of workload. Then they go and look at

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Speaker 2: the talent that they have, and they will allocate talent

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Speaker 2: to that organizational chart. So they might go, oh, g King,

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Speaker 2: you're a really good head of accounting, so we're going

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Speaker 2: to pop you tentatively in that role, and then we

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Speaker 2: are going to you know, fill out all the roles.

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Speaker 2: And if they have double ups, they might make people

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Speaker 2: apply for it and go, oh, Ge and Jess like

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Speaker 2: you both might be able to do that. How about

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Speaker 2: you both apply for this and we'll go through a

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Speaker 2: round of interviews and see who makes it. The person

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Speaker 2: who makes it keeps the job. The other person gets

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Speaker 2: made redundant, which.

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Speaker 5: Is as terrifying I just like it.

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Speaker 2: Yeah, for a lot of people, redundancy is terrifying, especially

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Speaker 2: going into a recession like we're headed into a period

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Speaker 2: of time where securing employment is not going to be

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Speaker 2: very easy. But I'm sure that there are actually a

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Speaker 2: fair few people It's unclepool and year redundancy. I've been

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Speaker 2: here for ten plus years. I'm going to make bank

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Speaker 2: because you know, not to make this a good thing,

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Speaker 2: because I actually don't believe it's a good thing. And

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Speaker 2: I'll get into it in a hot second out Why However,

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Speaker 2: when you get made redundant, your redundancy is applicable for

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Speaker 2: the amount of time that you will with the business

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Speaker 2: at your current rate of pay. So say you came

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Speaker 2: in as a graduate and then you've worked your way

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Speaker 2: up to you know, having one hundred thousand dollar income,

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Speaker 2: and you're now really well off. That one hundred thousand

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Speaker 2: dollar income would apply to your redundancy package, not what

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Speaker 2: you earned as a graduate. You might have earned thirty

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Speaker 2: eight thousand or forty five thousand as a graduate and

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Speaker 2: you might go, oh, I didn't earn much back then.

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Speaker 2: The benefit for most redundancies is that one hundred grand,

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Speaker 2: if you've worked for ten years at that company, is

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Speaker 2: actually going to look like a pretty healthy payout. So

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Speaker 2: there might be some people at Suncorp if this is

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Speaker 2: going to happen, that are like George. They're like, I

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Speaker 2: want Jess to get it. Jess, you can have the job.

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Speaker 2: I want the payout and I'll go find a new

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Speaker 2: job because I'm ready to move on and I'd love

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Speaker 2: the extra, you know, one hundred grand in my bank account.

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Speaker 5: Yeah right? So is this be linked to the recession?

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Speaker 1: Like?

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Speaker 5: Are we going to see more business is doing this?

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Speaker 5: Why is this important for us? Understand?

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Speaker 2: Look, it's not from my perspective at this point in time,

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Speaker 2: with the information that I have available to me, it's

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Speaker 2: not linked to the recession. I think that A and

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Speaker 2: Z is looking at it as a really good growth

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Speaker 2: strategy to get into Queensland. Suncorp is a predominantly Queensland

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Speaker 2: business down here in Melbourne. You guys might have heard

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Speaker 2: of it, but you probably definitely don't bank with them

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Speaker 2: because it's not as accessible as it is in Queensland. Oras.

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Speaker 2: In Queensland, that's the market that A in Z doesn't

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Speaker 2: have as many branches. This enables them to access all

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Speaker 2: of those customers. And Queensland is actually the fastest growing

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Speaker 2: economy at the moment in Australia, which is kind of cool,

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Speaker 2: due to trade and development and you know, Brisbane is

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Speaker 2: really picking up. Whereas historically we used to always talk

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Speaker 2: about the business centers of Australia being Sydney and then Melbourne.

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Speaker 2: Queensland is really starting to give us all a bit

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Speaker 2: of a run for our money with how much growth

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Speaker 2: and economic stability they're being afforded. So I think it's

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Speaker 2: a good thing when you look at it from you know,

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Speaker 2: a bird's eye view and go okay, cool, Like ain

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Speaker 2: Zed is a big bank. They might want to grow

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Speaker 2: and have this growth strategy that they're trying to implement,

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Speaker 2: and one way to do it, as we said before,

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Speaker 2: is acquisition. And so they've looked at a similar business

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Speaker 2: and going all right, well they're another bank, they're smaller

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Speaker 2: than us. We would get access to a demographic that

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Speaker 2: we don't currently have access to them. It might feel

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Speaker 2: like a no brainer and they go, all right, no problems,

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Speaker 2: let's progress this deal. However, sun Corb and ain Z

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Speaker 2: have a bit of a history, from my perspective, of

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Speaker 2: always putting profit before people. So do we actually want

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Speaker 2: these two banks to come together which results in less

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Speaker 2: competition in the marketplace when it comes to things like

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Speaker 2: home loans and with inflation and home loan prices going up,

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Speaker 2: do we really want less options? And is that actually

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Speaker 2: putting consumers first as you alluded to before, Jess.

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Speaker 5: Yeah, that's kind of what I was gonna say.

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Speaker 4: Is to me, I can see why, like you said,

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Speaker 4: as a business growth strategy, great for them, but for

437
00:19:49,760 --> 00:19:53,040
Speaker 4: the everyday person, it seems like this isn't the first

438
00:19:53,080 --> 00:19:56,199
Speaker 4: bank acquisition that's happened over the last few years. It

439
00:19:56,240 --> 00:19:58,600
Speaker 4: really feels like all of the little guys are being

440
00:19:58,680 --> 00:20:02,119
Speaker 4: swallowed up by the big four. And ultimately, does that

441
00:20:02,240 --> 00:20:05,440
Speaker 4: mean that we're not really going to have as much

442
00:20:05,480 --> 00:20:07,439
Speaker 4: competition in the market as we need and it's going

443
00:20:07,480 --> 00:20:09,520
Speaker 4: to become a little bit of not quite a monopoly

444
00:20:09,560 --> 00:20:12,080
Speaker 4: because there's more than one. But if A and Z

445
00:20:12,359 --> 00:20:14,800
Speaker 4: are in Suncorp, and Suncorp continues to trade, but it's

446
00:20:14,800 --> 00:20:17,159
Speaker 4: a subsidiary of A and Z. Does that mean that

447
00:20:17,280 --> 00:20:19,359
Speaker 4: really the deal that you're going at Suncorp is not

448
00:20:19,359 --> 00:20:20,720
Speaker 4: going to be that different from the deal that you

449
00:20:20,760 --> 00:20:22,359
Speaker 4: get at A and Z even though they exist in

450
00:20:22,400 --> 00:20:23,080
Speaker 4: the same space.

451
00:20:23,280 --> 00:20:26,240
Speaker 2: Look, it's hard to say. I think going into you know,

452
00:20:26,280 --> 00:20:29,960
Speaker 2: the economic period that we're about to experience, more competition

453
00:20:30,200 --> 00:20:34,480
Speaker 2: is always better, so it puts consumers first. However, often

454
00:20:34,640 --> 00:20:37,320
Speaker 2: and you see this, like let's use the example of

455
00:20:37,400 --> 00:20:41,920
Speaker 2: when NAB quired U Bank, Right, they actually operate relatively independently.

456
00:20:41,960 --> 00:20:44,359
Speaker 2: I mean they have crossover in teams internally, and like

457
00:20:44,400 --> 00:20:47,359
Speaker 2: that all makes sense because why I have double ups. However,

458
00:20:47,400 --> 00:20:50,000
Speaker 2: they do have different offerings, right, Like when you look

459
00:20:50,000 --> 00:20:53,000
Speaker 2: at their mortgage products, like U Bank has a more

460
00:20:53,000 --> 00:20:56,680
Speaker 2: simplistic mortgage product with a lower interest rate. Usually don't

461
00:20:56,720 --> 00:20:58,560
Speaker 2: quote me on that in this current market. I haven't

462
00:20:58,560 --> 00:21:00,879
Speaker 2: looked at the moment, but they usually have a lower

463
00:21:00,920 --> 00:21:03,399
Speaker 2: interest rate. And that's because there's less bells and whistles

464
00:21:03,440 --> 00:21:06,800
Speaker 2: on their mortgage products, right, so they don't have access

465
00:21:06,800 --> 00:21:08,919
Speaker 2: to things like offsets at this point in time. I

466
00:21:08,960 --> 00:21:10,720
Speaker 2: know they're working on it and they will build that

467
00:21:10,840 --> 00:21:12,600
Speaker 2: up and you know, have that as an offering. But

468
00:21:12,720 --> 00:21:16,480
Speaker 2: often they do like having the two different products because

469
00:21:16,480 --> 00:21:19,000
Speaker 2: they attract two different markets, right Like Jess, you might

470
00:21:19,040 --> 00:21:20,800
Speaker 2: be going for the lowest interest rate and you don't

471
00:21:20,800 --> 00:21:23,000
Speaker 2: care about the bells and whistles, and then I might

472
00:21:23,040 --> 00:21:26,159
Speaker 2: be going for a different product and my priority is

473
00:21:26,160 --> 00:21:28,919
Speaker 2: an interest rate, because to be honest, my priority when

474
00:21:28,960 --> 00:21:31,119
Speaker 2: I got my mortgage was an interest rate. It was

475
00:21:31,160 --> 00:21:34,159
Speaker 2: having as many offset accounts as possible so I could

476
00:21:34,280 --> 00:21:36,439
Speaker 2: make my money work really hard for me. So we

477
00:21:36,520 --> 00:21:39,720
Speaker 2: might all have different priorities. And I think that from

478
00:21:39,840 --> 00:21:43,240
Speaker 2: a business perspective, it can be quite smart having two

479
00:21:43,359 --> 00:21:47,919
Speaker 2: competing products that you know, stay relatively independent. But is

480
00:21:47,960 --> 00:21:50,920
Speaker 2: that truly competition if they're owned by the same big dog.

481
00:21:51,080 --> 00:21:54,280
Speaker 2: Like I like the idea of more flexibility and more

482
00:21:54,320 --> 00:21:57,560
Speaker 2: opportunity in the marketplace, especially when it comes to being

483
00:21:57,600 --> 00:22:00,639
Speaker 2: able to refinance home loans and banking and whatever you

484
00:22:00,720 --> 00:22:02,880
Speaker 2: want to do at this point in time, going into

485
00:22:02,960 --> 00:22:05,680
Speaker 2: a pretty tumultuous time like it just makes sense.

486
00:22:06,000 --> 00:22:08,919
Speaker 5: So you mentioned earlier V that there's likely to be

487
00:22:09,000 --> 00:22:12,399
Speaker 5: big redundancies in this whole piece what happens there.

488
00:22:12,840 --> 00:22:15,920
Speaker 2: Well, I think it's interesting because the CEO of A

489
00:22:16,040 --> 00:22:18,880
Speaker 2: and Z, Shane Elliot, has come out and said, guys,

490
00:22:19,040 --> 00:22:21,560
Speaker 2: don't worry, We're not going to have any net job

491
00:22:21,560 --> 00:22:24,040
Speaker 2: losses over the next three years, because he's trying to

492
00:22:24,040 --> 00:22:27,080
Speaker 2: make people feel really comfortable, like, don't worry ge with

493
00:22:27,160 --> 00:22:28,960
Speaker 2: this merger, like we're not going to make you lose

494
00:22:28,960 --> 00:22:32,240
Speaker 2: your job. But to me, that just says that you're

495
00:22:32,240 --> 00:22:35,439
Speaker 2: sitting ducks for three years, and after those three years,

496
00:22:35,440 --> 00:22:39,280
Speaker 2: that really means that there's basically no future for thousands

497
00:22:39,280 --> 00:22:42,399
Speaker 2: of people who are currently working in Queensland. After that

498
00:22:42,440 --> 00:22:45,320
Speaker 2: three years, it's up. So from my perspective, I think

499
00:22:45,359 --> 00:22:47,840
Speaker 2: it's probably a good time for people to be a

500
00:22:47,880 --> 00:22:48,720
Speaker 2: little bit critical.

501
00:22:48,800 --> 00:22:50,840
Speaker 5: Like, as I said before I googled it.

502
00:22:50,880 --> 00:22:54,439
Speaker 2: Thirteen thousand stuff, like, that's a lot of stuff to

503
00:22:54,640 --> 00:22:58,000
Speaker 2: in three years. Potentially, let's you know, extrapolate this out

504
00:22:58,040 --> 00:23:00,320
Speaker 2: and be a little bit dramatic, because sometimes have to

505
00:23:00,320 --> 00:23:02,360
Speaker 2: be dramatic to find an outcome that puts you, guys

506
00:23:02,400 --> 00:23:05,800
Speaker 2: in the best possible position. But what happens in three

507
00:23:05,880 --> 00:23:08,480
Speaker 2: years if thirteen thousand people lose their jobs at one

508
00:23:08,560 --> 00:23:11,960
Speaker 2: bank and they all have banking experience, where are they going?

509
00:23:12,280 --> 00:23:14,640
Speaker 2: What types of jobs are you going to work in?

510
00:23:14,880 --> 00:23:17,920
Speaker 2: Because arguably, you know, I use marketing as an example

511
00:23:18,240 --> 00:23:20,600
Speaker 2: because I feel like I talk to marketing companies all

512
00:23:20,600 --> 00:23:24,160
Speaker 2: the time. But what if you have experience in marketing, great,

513
00:23:24,240 --> 00:23:27,040
Speaker 2: no problems, You can probably move into a similar role

514
00:23:27,080 --> 00:23:29,720
Speaker 2: at another bank or another corporate. Your experience might be

515
00:23:29,800 --> 00:23:32,959
Speaker 2: quite transferable. What if you're a private banker, What if

516
00:23:32,960 --> 00:23:36,480
Speaker 2: you're a broker, What if you have specific bank experience

517
00:23:36,560 --> 00:23:40,639
Speaker 2: that doesn't easily translate to another industry, what's going to happen.

518
00:23:40,840 --> 00:23:43,080
Speaker 2: There's going to be a heap of competition for all

519
00:23:43,119 --> 00:23:45,399
Speaker 2: these other jobs and a whole heap of people who

520
00:23:45,480 --> 00:23:47,760
Speaker 2: can't get jobs. So I think that makes me feel

521
00:23:47,800 --> 00:23:50,840
Speaker 2: a little bit icky and makes me go, all right, well,

522
00:23:50,960 --> 00:23:53,600
Speaker 2: I know he said three years, and that's nice of him,

523
00:23:53,720 --> 00:23:56,440
Speaker 2: But that also means that we've got a timeline of

524
00:23:56,560 --> 00:23:58,359
Speaker 2: three years to work out where you want to be

525
00:23:58,560 --> 00:24:00,879
Speaker 2: and whether your role is still going to exist. For

526
00:24:00,920 --> 00:24:03,920
Speaker 2: a lot of people, that would be really really stressful

527
00:24:04,119 --> 00:24:08,000
Speaker 2: and you know, making some grand assumptions. Often in banking,

528
00:24:08,160 --> 00:24:10,879
Speaker 2: you have a higher tenure, so people are more likely

529
00:24:10,920 --> 00:24:13,439
Speaker 2: to stick around you know, I know millennials have an

530
00:24:13,440 --> 00:24:16,840
Speaker 2: average tenure these days of about eighteen months in a role. However,

531
00:24:17,000 --> 00:24:19,959
Speaker 2: in banking that's closer to five years. Like you usually

532
00:24:20,000 --> 00:24:22,320
Speaker 2: stick in a job five years, if not ten, if

533
00:24:22,359 --> 00:24:25,040
Speaker 2: not twenty, like you often see people who have career

534
00:24:25,160 --> 00:24:28,600
Speaker 2: jobs at banks, and you know, again making a grand assumption.

535
00:24:28,960 --> 00:24:32,160
Speaker 2: In Queensland, that could be even more true because there's

536
00:24:32,280 --> 00:24:36,119
Speaker 2: less job opportunities, or there were less job opportunities, you know,

537
00:24:36,280 --> 00:24:39,440
Speaker 2: ten twenty years ago, So maybe people have stuck that out.

538
00:24:39,600 --> 00:24:41,800
Speaker 2: What are they going to do about their roles? What

539
00:24:41,840 --> 00:24:43,720
Speaker 2: are we going to do about the branches you know

540
00:24:43,840 --> 00:24:47,399
Speaker 2: in more remote locations that then are completely redundant. What

541
00:24:47,440 --> 00:24:49,639
Speaker 2: are those people doing? So I think it makes me,

542
00:24:50,160 --> 00:24:52,160
Speaker 2: makes me a little bit stressed, and it doesn't make

543
00:24:52,240 --> 00:24:54,760
Speaker 2: me so excited about it, Like I just think it's

544
00:24:54,840 --> 00:24:57,639
Speaker 2: bad for jobs, it's bad for competition. I don't think

545
00:24:57,680 --> 00:24:59,639
Speaker 2: it's a good thing in the long term, and it

546
00:24:59,720 --> 00:25:02,280
Speaker 2: just ma makes me wonder, like what's going on. But

547
00:25:02,920 --> 00:25:06,240
Speaker 2: the Treasurer Jim Chalmers has actually come out and said

548
00:25:06,280 --> 00:25:08,040
Speaker 2: that he is going to call on the A Triple

549
00:25:08,080 --> 00:25:10,040
Speaker 2: C to reject the deal because he just thinks it's

550
00:25:10,080 --> 00:25:13,119
Speaker 2: such a bad thing that it shouldn't go through and

551
00:25:13,240 --> 00:25:15,639
Speaker 2: A and Z should not be able to incorporate with

552
00:25:15,800 --> 00:25:18,400
Speaker 2: Suncorp because he thinks it puts consumers in that bad

553
00:25:18,400 --> 00:25:20,640
Speaker 2: of a position. So it's not just me going hey,

554
00:25:20,760 --> 00:25:22,719
Speaker 2: I don't think this is right, like just from what

555
00:25:22,720 --> 00:25:24,760
Speaker 2: I've been reading and how I see it, Like our

556
00:25:24,840 --> 00:25:28,080
Speaker 2: literal treasurer, he's turning around and going, nah, a triple

557
00:25:28,119 --> 00:25:30,399
Speaker 2: C put a stop to this. I don't think it's kosher.

558
00:25:30,760 --> 00:25:31,960
Speaker 5: How big of a deal is that?

559
00:25:32,040 --> 00:25:34,159
Speaker 4: Like how often would the treasure step in and make

560
00:25:34,160 --> 00:25:34,960
Speaker 4: a comment like that?

561
00:25:34,960 --> 00:25:37,800
Speaker 2: That's pretty big because as much as both of those

562
00:25:37,800 --> 00:25:40,320
Speaker 2: companies so A and Z and SUNCRT Bank are both

563
00:25:40,440 --> 00:25:43,439
Speaker 2: listed companies on the ASX, Like how often does the

564
00:25:43,480 --> 00:25:47,560
Speaker 2: Australian Treasurer get involved in business dealings? Like how does

565
00:25:47,600 --> 00:25:50,320
Speaker 2: that work? Like what if Lareol wanted to acquire another

566
00:25:50,359 --> 00:25:53,040
Speaker 2: makeup business and you were like, oh, they do they

567
00:25:53,080 --> 00:25:55,240
Speaker 2: test on animals? Like are you going to turn around

568
00:25:55,320 --> 00:25:58,920
Speaker 2: and have the Treasurer stop that? Like obviously he's assuming

569
00:25:58,960 --> 00:26:01,680
Speaker 2: that there will be some pretty big economic impacts if

570
00:26:01,680 --> 00:26:05,520
Speaker 2: that does happen. Otherwise why would he try and bar It'd.

571
00:26:05,000 --> 00:26:07,400
Speaker 4: Be interesting to see if the age will see responds

572
00:26:07,440 --> 00:26:09,040
Speaker 4: and if they do put a stop tootter, if they

573
00:26:09,080 --> 00:26:11,280
Speaker 4: put limitations on it, or what that ends up looking like.

574
00:26:11,400 --> 00:26:13,399
Speaker 2: I think it'll be an interesting one to follow, and

575
00:26:13,440 --> 00:26:15,359
Speaker 2: I'm glad you brought it up for today because I

576
00:26:15,400 --> 00:26:18,000
Speaker 2: think a lot of people in our community would be like, beh,

577
00:26:18,119 --> 00:26:21,520
Speaker 2: I don't care about understanding like this an z Suncorp. Thing.

578
00:26:21,520 --> 00:26:23,159
Speaker 2: It doesn't make sense, but when you get into the

579
00:26:23,240 --> 00:26:25,080
Speaker 2: nitty gritty of it, you're like, wow, this could really

580
00:26:25,119 --> 00:26:27,879
Speaker 2: impact our community, Like this could really impact a lot

581
00:26:27,880 --> 00:26:30,239
Speaker 2: of jobs in Queensland. It could really impact a lot

582
00:26:30,320 --> 00:26:32,960
Speaker 2: of people our age. And I just think it's so

583
00:26:33,040 --> 00:26:35,560
Speaker 2: important to discuss these topics in a way that doesn't

584
00:26:35,560 --> 00:26:37,320
Speaker 2: feel as formal as when I read it on the

585
00:26:37,320 --> 00:26:39,800
Speaker 2: Financial Review right, like just you're not gonna go be

586
00:26:39,880 --> 00:26:41,919
Speaker 2: like oh, I can't wait to read about this, Like

587
00:26:41,920 --> 00:26:44,600
Speaker 2: it just sounds like a bland topic until we start

588
00:26:44,640 --> 00:26:46,600
Speaker 2: breaking it down and going, well, George, this is what

589
00:26:46,600 --> 00:26:47,919
Speaker 2: it means and this is how it works.

590
00:26:48,320 --> 00:26:51,360
Speaker 5: Good chat, ladies, little bland. Not gonna lie about it.

591
00:26:51,720 --> 00:26:54,119
Speaker 5: Do you know what's not planned money dilemmas? Let's have

592
00:26:54,160 --> 00:26:58,719
Speaker 5: a listen, hi, bet have you got a money dilemma

593
00:26:58,760 --> 00:27:01,040
Speaker 5: you just can't solve. The Shees on the Money team

594
00:27:01,200 --> 00:27:04,080
Speaker 5: is here to help. Every week, we tackle your dilemmas,

595
00:27:04,119 --> 00:27:06,840
Speaker 5: both big and small, to answer your most burning money,

596
00:27:06,880 --> 00:27:10,359
Speaker 5: career and life questions. To get involved, simply head to

597
00:27:10,400 --> 00:27:12,520
Speaker 5: our website and leave us a quick voice recording and

598
00:27:12,600 --> 00:27:15,040
Speaker 5: you may just find yourself on the show. Now, let's

599
00:27:15,080 --> 00:27:18,320
Speaker 5: take a listen to today's money dilemma.

600
00:27:18,680 --> 00:27:22,320
Speaker 6: Hi guys, So my name is Erin and I am

601
00:27:22,800 --> 00:27:26,119
Speaker 6: definitely a shopaholic. I have always been really bad with

602
00:27:26,160 --> 00:27:29,400
Speaker 6: my money in that I get very tempted with clothing

603
00:27:29,640 --> 00:27:33,199
Speaker 6: and I really like buying clothes and using things like

604
00:27:33,280 --> 00:27:36,360
Speaker 6: after pay. I was just wondering what would be your

605
00:27:36,400 --> 00:27:40,680
Speaker 6: biggest tip to help me stop this addiction of online

606
00:27:40,680 --> 00:27:43,520
Speaker 6: shopping and using after pay, because I feel like it's

607
00:27:43,520 --> 00:27:46,280
Speaker 6: getting a little bit silly and I don't want to

608
00:27:46,280 --> 00:27:48,120
Speaker 6: be in debt for the rest of my life.

609
00:27:48,560 --> 00:27:51,080
Speaker 4: I would say, firstly, if it is like, if it's

610
00:27:51,160 --> 00:27:54,919
Speaker 4: genuinely the point where it's impacting your life super significantly,

611
00:27:55,000 --> 00:27:56,640
Speaker 4: cool eference the National Debt Help Line.

612
00:27:56,680 --> 00:27:58,080
Speaker 5: Of course, they're a free service.

613
00:27:58,160 --> 00:28:01,359
Speaker 4: They have really great financial counselors, they have people who

614
00:28:01,400 --> 00:28:03,199
Speaker 4: will be able to help you sort things out. But

615
00:28:03,240 --> 00:28:05,479
Speaker 4: more broadly, I feel like we've all probably got some

616
00:28:05,520 --> 00:28:07,920
Speaker 4: good little, some little tips for you if you are

617
00:28:08,000 --> 00:28:12,280
Speaker 4: having trouble raining your spending in I would say something

618
00:28:12,280 --> 00:28:14,520
Speaker 4: that I see people doing actually in the Facebook group

619
00:28:14,600 --> 00:28:16,560
Speaker 4: a lot when you do use these buy and now

620
00:28:16,640 --> 00:28:20,080
Speaker 4: pay later services, is adding up your lifetime amount. I

621
00:28:20,080 --> 00:28:22,080
Speaker 4: think you might actually be able to key. You might

622
00:28:22,080 --> 00:28:24,639
Speaker 4: not actually see it in the app somewhere, depending on

623
00:28:24,640 --> 00:28:27,960
Speaker 4: what platform you use. But the reason that these platforms

624
00:28:28,000 --> 00:28:31,639
Speaker 4: are so addictive is because you don't really fully feel

625
00:28:31,680 --> 00:28:34,760
Speaker 4: the impact of what you're spending. And sometimes we need

626
00:28:34,800 --> 00:28:36,800
Speaker 4: a little bit of a kick up the tush to

627
00:28:36,880 --> 00:28:39,160
Speaker 4: get us going in the right direction. And seeing that

628
00:28:39,200 --> 00:28:41,680
Speaker 4: you've spent ten thousand dollars over the course of two

629
00:28:41,800 --> 00:28:43,440
Speaker 4: years would arguably do.

630
00:28:43,400 --> 00:28:46,440
Speaker 5: That for you in my opinion one hundred percent. I

631
00:28:46,440 --> 00:28:49,480
Speaker 5: would add to that and say, unfollowing brands on social

632
00:28:49,560 --> 00:28:52,720
Speaker 5: media and influencers who influence you would be a really

633
00:28:52,760 --> 00:28:54,640
Speaker 5: good idea. If you can't see it, you don't want it.

634
00:28:54,880 --> 00:28:57,400
Speaker 5: Subscribing to marketing emails, all of that, just see she's

635
00:28:57,440 --> 00:29:00,920
Speaker 5: on the money, always exactly that that email. But also

636
00:29:01,080 --> 00:29:04,640
Speaker 5: I would say actually dedicating money in your budget. Set

637
00:29:04,720 --> 00:29:06,560
Speaker 5: up a budget and understand your cash flow if you

638
00:29:06,600 --> 00:29:10,440
Speaker 5: don't already, and then dedicate money in your spending to

639
00:29:10,520 --> 00:29:14,400
Speaker 5: put towards frivolous spends or shopping or whatever it may be,

640
00:29:14,760 --> 00:29:17,080
Speaker 5: so then you don't feel that guilt and even like,

641
00:29:17,160 --> 00:29:19,440
Speaker 5: so you don't restrict yourself and then end up binging

642
00:29:19,520 --> 00:29:21,120
Speaker 5: or whatever it may be. I feel like that could

643
00:29:21,160 --> 00:29:22,120
Speaker 5: be a really good idea too.

644
00:29:22,320 --> 00:29:25,800
Speaker 4: In my actual budget, I have an allocation for both

645
00:29:25,840 --> 00:29:28,920
Speaker 4: clothing and beauty because I like to break my spending down,

646
00:29:28,960 --> 00:29:31,280
Speaker 4: as we've discussed, into thirteen different saviors accounts, but.

647
00:29:32,440 --> 00:29:35,960
Speaker 2: Like thirteen, I could not keep that. So I have

648
00:29:36,080 --> 00:29:38,760
Speaker 2: my food, Fuel, and Fun account and that is it,

649
00:29:38,840 --> 00:29:41,200
Speaker 2: and we function on a daily basis from that, and

650
00:29:41,200 --> 00:29:44,160
Speaker 2: then I have like my savings account, Holy moly, thirteen,

651
00:29:44,200 --> 00:29:46,200
Speaker 2: I'd be like, I could not go and pull money

652
00:29:46,200 --> 00:29:49,160
Speaker 2: out of my beauty account to spend, I'd be useless.

653
00:29:49,320 --> 00:29:53,320
Speaker 4: My overall spending system is the She's on the money

654
00:29:53,320 --> 00:29:55,120
Speaker 4: budget and cash flow system, which is where those four

655
00:29:55,120 --> 00:29:56,880
Speaker 4: bank accounts come in. If you haven't checked out, we'll

656
00:29:56,880 --> 00:29:58,160
Speaker 4: have a link in the show notes because it is

657
00:29:58,280 --> 00:30:00,960
Speaker 4: incredible if I do say so myself, but for me,

658
00:30:01,280 --> 00:30:04,800
Speaker 4: because I am a really visual person, breaking those accounts

659
00:30:04,800 --> 00:30:08,760
Speaker 4: down into actual categories and going, okay, I'm not comfortable

660
00:30:08,840 --> 00:30:10,920
Speaker 4: spending more than X amount of dollars a month on

661
00:30:11,040 --> 00:30:13,960
Speaker 4: clothing because anything more than that feels ridiculous for me.

662
00:30:14,680 --> 00:30:18,600
Speaker 4: So actually breaking the budget down incrementally beyond those four

663
00:30:18,640 --> 00:30:22,360
Speaker 4: accounts into what I do allow I guess myself to

664
00:30:22,400 --> 00:30:25,320
Speaker 4: spend really made me super accountable, and that's something that

665
00:30:25,360 --> 00:30:26,760
Speaker 4: I have found has worked really well.

666
00:30:26,880 --> 00:30:28,840
Speaker 2: But take your advice. You've saved for a house, so

667
00:30:28,840 --> 00:30:31,240
Speaker 2: I think that's pretty sure, all right, both have saved

668
00:30:31,240 --> 00:30:34,360
Speaker 2: for houses. Basically, I'm very impressed. I think from my

669
00:30:34,520 --> 00:30:36,800
Speaker 2: side of the table, i'd really be going back, and

670
00:30:36,840 --> 00:30:39,000
Speaker 2: you guys are going to have seen this advice counting

671
00:30:39,040 --> 00:30:41,719
Speaker 2: a mile off, but I'd go back to your values

672
00:30:41,760 --> 00:30:45,080
Speaker 2: and your goals. Like often during the times when I'm

673
00:30:45,120 --> 00:30:48,160
Speaker 2: spending the most and being really frivolous and not really

674
00:30:48,200 --> 00:30:51,680
Speaker 2: planning my spending, and maybe historically when I was spending

675
00:30:51,720 --> 00:30:54,640
Speaker 2: beyond my means, it was because I didn't have really

676
00:30:54,640 --> 00:30:57,840
Speaker 2: clear goals and values or understand where I wanted to go.

677
00:30:58,040 --> 00:31:01,240
Speaker 2: In fact, I would say that during those periods of time,

678
00:31:01,680 --> 00:31:03,840
Speaker 2: I really didn't know what I wanted out a life either,

679
00:31:04,000 --> 00:31:05,240
Speaker 2: Like I didn't know what I wanted to do with

680
00:31:05,280 --> 00:31:06,880
Speaker 2: my career. I didn't know what I wanted to do

681
00:31:06,960 --> 00:31:09,920
Speaker 2: with my relationships or my jobs. Like literally everything I

682
00:31:09,960 --> 00:31:13,160
Speaker 2: was a bit like bear about. And so spending was

683
00:31:13,160 --> 00:31:15,360
Speaker 2: that one thing that made me feel really good. And

684
00:31:15,560 --> 00:31:18,800
Speaker 2: often when you are a bit of an overspender, there's

685
00:31:18,880 --> 00:31:22,200
Speaker 2: usually a reason for it, because spending gives you dopamine,

686
00:31:22,440 --> 00:31:24,800
Speaker 2: and dopamine makes you feel really good, and it gives

687
00:31:24,840 --> 00:31:29,800
Speaker 2: you that instant burst of excitement and award essentially, so

688
00:31:30,240 --> 00:31:33,080
Speaker 2: it might be replacing something else that's going on. So

689
00:31:33,120 --> 00:31:34,840
Speaker 2: I'd have to sit down and be like, well, why

690
00:31:34,880 --> 00:31:37,080
Speaker 2: do I feel like I need to do this, because

691
00:31:37,640 --> 00:31:40,719
Speaker 2: obviously you've articulated that it's not a good idea and

692
00:31:40,840 --> 00:31:42,560
Speaker 2: it's a bit silly and you don't want to be

693
00:31:42,600 --> 00:31:45,160
Speaker 2: doing it for you personally. So I'd be really sitting

694
00:31:45,200 --> 00:31:47,720
Speaker 2: down and going, well, when am I spending the most?

695
00:31:47,800 --> 00:31:49,720
Speaker 2: Is it when I'm feeling a little bit bad? Is

696
00:31:49,720 --> 00:31:51,560
Speaker 2: it when I'm having a bad day at work? Is

697
00:31:51,600 --> 00:31:54,520
Speaker 2: it me because I'm anxious in the evenings, So I'm

698
00:31:54,560 --> 00:31:57,840
Speaker 2: jumping on the iconic and buying some stuff to distract myself,

699
00:31:57,880 --> 00:32:00,880
Speaker 2: like let's learn a little bit more about ourselves and

700
00:32:00,920 --> 00:32:04,480
Speaker 2: our personal circumstances to kind of like hopefully read into

701
00:32:04,760 --> 00:32:08,640
Speaker 2: the why, because there's always a why. It's not just like, oh,

702
00:32:08,680 --> 00:32:11,440
Speaker 2: it just happens, Like it doesn't just happen. There's a

703
00:32:11,520 --> 00:32:14,520
Speaker 2: reason behind everything. Then I would really want to be

704
00:32:14,520 --> 00:32:17,000
Speaker 2: clear on my goals, and my financial goals would be

705
00:32:17,080 --> 00:32:19,520
Speaker 2: obviously front of mind and setting goals and going like

706
00:32:19,600 --> 00:32:21,880
Speaker 2: all right, well, I want to save or I want

707
00:32:21,920 --> 00:32:23,720
Speaker 2: to invest or I want to pay off my debt,

708
00:32:23,760 --> 00:32:26,000
Speaker 2: and this is how I'm going to do it. But

709
00:32:26,320 --> 00:32:29,440
Speaker 2: from someone who is incredibly impulsive. The other thing I

710
00:32:29,480 --> 00:32:32,120
Speaker 2: would say is automated. I am so good at my

711
00:32:32,160 --> 00:32:34,960
Speaker 2: budget and cash flow on a day to day basis,

712
00:32:34,960 --> 00:32:36,200
Speaker 2: and I think a lot of people look at me

713
00:32:36,200 --> 00:32:38,080
Speaker 2: and go wow, like she's so good at money like

714
00:32:38,120 --> 00:32:40,840
Speaker 2: I am, because it's automated, like I have ADHD. If

715
00:32:40,840 --> 00:32:44,000
Speaker 2: things aren't automated, it's not happening. Like if it's in

716
00:32:44,040 --> 00:32:46,960
Speaker 2: my account and it's within my reach, I am going

717
00:32:47,040 --> 00:32:49,200
Speaker 2: to spend it because I don't think about the other

718
00:32:49,240 --> 00:32:53,160
Speaker 2: incidental things that might exist, Like last month, I completely

719
00:32:53,200 --> 00:32:56,959
Speaker 2: forgot that my income protection was due. And it's okay,

720
00:32:57,120 --> 00:32:59,600
Speaker 2: like I have budgeted for it, it's in my cash flow,

721
00:32:59,640 --> 00:33:02,320
Speaker 2: like I've got the money pulled aside because I've automated it.

722
00:33:02,520 --> 00:33:04,560
Speaker 2: But I got that bill and I was like, Oh,

723
00:33:04,640 --> 00:33:07,080
Speaker 2: where'd that come from? Didn't see that coming. That's wild,

724
00:33:07,640 --> 00:33:10,720
Speaker 2: And had I not automated my process, I would have

725
00:33:10,800 --> 00:33:13,560
Speaker 2: felt like that was a really big hit. So I

726
00:33:13,600 --> 00:33:16,800
Speaker 2: think it's important to just really make a system that

727
00:33:16,880 --> 00:33:20,120
Speaker 2: works for you, and you know, just thirteen accounts works.

728
00:33:20,280 --> 00:33:23,240
Speaker 2: I couldn't keep track of that. That would drive me insane.

729
00:33:23,480 --> 00:33:25,520
Speaker 2: I just need to know. And that's why I was

730
00:33:25,560 --> 00:33:28,560
Speaker 2: talking about earlier about my up bank card. I love

731
00:33:28,640 --> 00:33:31,760
Speaker 2: to know instant feedback what amount of money is left

732
00:33:31,760 --> 00:33:33,640
Speaker 2: in my account so I can make decisions on it.

733
00:33:33,720 --> 00:33:37,360
Speaker 2: And then I really like having a structure where every

734
00:33:37,360 --> 00:33:40,160
Speaker 2: other goal is being attended to before I get to

735
00:33:40,240 --> 00:33:43,120
Speaker 2: that cash that I'm allowed to spend, so regardless of

736
00:33:43,120 --> 00:33:46,160
Speaker 2: whether that's you know, one hundred dollars or three dollars

737
00:33:46,240 --> 00:33:48,320
Speaker 2: for a coffee, Like I think that we need to

738
00:33:48,320 --> 00:33:50,959
Speaker 2: be really clear with ourselves about our goals and our

739
00:33:51,040 --> 00:33:53,920
Speaker 2: values and not hush like I don't want to go

740
00:33:53,920 --> 00:33:56,080
Speaker 2: all right, well, Jesse, you've only got fifty bucks for groceries,

741
00:33:56,200 --> 00:33:58,160
Speaker 2: like you might go v that's not aligned to my goals.

742
00:33:58,200 --> 00:34:01,280
Speaker 2: It's not about being restrictive. It's about understanding it. I

743
00:34:01,280 --> 00:34:04,640
Speaker 2: think once you understand it, you'll feel far more in control.

744
00:34:04,720 --> 00:34:06,200
Speaker 2: So that would be my advice.

745
00:34:06,880 --> 00:34:08,960
Speaker 4: I love that before we were up the episode, I

746
00:34:08,960 --> 00:34:11,239
Speaker 4: have something exciting to share with you, Victoria that you

747
00:34:11,280 --> 00:34:13,440
Speaker 4: don't know about. Oh, can you close your eyes for

748
00:34:13,480 --> 00:34:16,520
Speaker 4: one second? Yeah, let me give me, give me a second. Yeah,

749
00:34:16,520 --> 00:34:17,919
Speaker 4: George is not either. I'm the only one who knows

750
00:34:18,560 --> 00:34:20,239
Speaker 4: what is it? Just way, I'm not telling you. It's

751
00:34:20,280 --> 00:34:24,000
Speaker 4: a surprise, is it? Well obviously, Well everybody else knows

752
00:34:24,000 --> 00:34:24,480
Speaker 4: except me.

753
00:34:25,040 --> 00:34:27,400
Speaker 2: I have a surprise everybody.

754
00:34:27,400 --> 00:34:29,520
Speaker 4: It's a surprise for everyone I have in my hot

755
00:34:29,560 --> 00:34:33,319
Speaker 4: little hands. Yeah, yes, something you've been wanting to see.

756
00:34:33,400 --> 00:34:37,880
Speaker 4: Open your eyes, give me that. That's a good reaction,

757
00:34:38,800 --> 00:34:41,399
Speaker 4: right for everyone playing your home. I just handed her

758
00:34:41,800 --> 00:34:44,759
Speaker 4: the first my second book, well the first copy of

759
00:34:44,800 --> 00:34:48,439
Speaker 4: the second book. And it's not even officially the final thing.

760
00:34:48,520 --> 00:34:50,319
Speaker 2: No, it doesn't have the gold on it.

761
00:34:50,440 --> 00:34:53,480
Speaker 4: Yeah, but it's the very first look that we've had

762
00:34:53,640 --> 00:34:56,920
Speaker 4: at what it actually looks like in imperson.

763
00:34:57,680 --> 00:34:58,359
Speaker 5: Do you love it?

764
00:34:58,640 --> 00:34:59,520
Speaker 2: I love it.

765
00:34:59,640 --> 00:35:03,080
Speaker 4: I did also bring for effect the first book, so you.

766
00:35:03,040 --> 00:35:06,200
Speaker 2: Could put are you joking?

767
00:35:06,239 --> 00:35:10,359
Speaker 5: They look stunning? If I do say so? How does

768
00:35:10,400 --> 00:35:11,200
Speaker 5: everybody feel?

769
00:35:11,640 --> 00:35:15,160
Speaker 2: Oh, it feels so weird. It feels so weird? Are

770
00:35:15,200 --> 00:35:15,920
Speaker 2: you joking?

771
00:35:16,600 --> 00:35:17,680
Speaker 5: Isn't she beautiful?

772
00:35:17,840 --> 00:35:19,640
Speaker 4: We had a lot of there has been you guys,

773
00:35:20,120 --> 00:35:22,319
Speaker 4: so much back and forth on getting this cover right,

774
00:35:22,360 --> 00:35:24,160
Speaker 4: because I think the first time you have a book,

775
00:35:24,400 --> 00:35:26,840
Speaker 4: the world is your oyster, really, but then when you

776
00:35:26,880 --> 00:35:28,520
Speaker 4: have a second book, you go, well, I wanted to

777
00:35:28,560 --> 00:35:29,920
Speaker 4: work with the first book, but I want it to

778
00:35:29,920 --> 00:35:33,120
Speaker 4: have its own personality. So we have spent a lot

779
00:35:33,280 --> 00:35:35,839
Speaker 4: of times on this. I know a guy who knows

780
00:35:35,840 --> 00:35:36,080
Speaker 4: a guy.

781
00:35:37,400 --> 00:35:39,640
Speaker 2: I haven't even been able to sign off on this

782
00:35:39,760 --> 00:35:43,480
Speaker 2: pot Oh my god, this is sick.

783
00:35:44,000 --> 00:35:46,360
Speaker 4: So if you have missed the memo, if you're not

784
00:35:46,440 --> 00:35:48,360
Speaker 4: in our Facebook group of following us on Instagram. The

785
00:35:48,360 --> 00:35:50,520
Speaker 4: second book, Investing with Cheese on the Money, is coming

786
00:35:50,560 --> 00:35:55,160
Speaker 4: out this September, which is much sooner than twenty correct,

787
00:35:55,200 --> 00:35:57,440
Speaker 4: and it is available for pre order. We had a

788
00:35:57,480 --> 00:35:59,920
Speaker 4: massive outpouring of support because it went on sale on

789
00:36:00,040 --> 00:36:03,440
Speaker 4: Amazon Prime Day. Definitely check if it is still It

790
00:36:03,480 --> 00:36:05,720
Speaker 4: was forty two percent off and the day we're recording

791
00:36:05,719 --> 00:36:08,000
Speaker 4: this that deal is still available, so check if it

792
00:36:08,080 --> 00:36:10,759
Speaker 4: is when this episode goes up. But I don't think

793
00:36:10,800 --> 00:36:14,440
Speaker 4: you guys realize how much pre orders help us out,

794
00:36:14,560 --> 00:36:17,799
Speaker 4: because if there is interest and excitement around the book,

795
00:36:17,960 --> 00:36:20,680
Speaker 4: that is what gives us opportunities to do things like

796
00:36:20,760 --> 00:36:24,200
Speaker 4: bookchores or to do things like media because we, I

797
00:36:24,200 --> 00:36:26,560
Speaker 4: guess we have to kind of prove ourselves that people

798
00:36:26,560 --> 00:36:28,480
Speaker 4: are interested. And so when you sign up and pre

799
00:36:28,600 --> 00:36:31,759
Speaker 4: order the book, you're not just supporting us by doing that,

800
00:36:31,800 --> 00:36:34,759
Speaker 4: but you're also enabling us to hopefully get out to

801
00:36:34,760 --> 00:36:37,120
Speaker 4: see you and hug you in person, come to a

802
00:36:37,160 --> 00:36:40,319
Speaker 4: city near you, or you know, for Victoria to get

803
00:36:40,320 --> 00:36:42,480
Speaker 4: on TV and be able to spread her message of

804
00:36:42,520 --> 00:36:44,280
Speaker 4: financial literacy even further.

805
00:36:44,440 --> 00:36:46,120
Speaker 5: So thank you so much.

806
00:36:46,200 --> 00:36:48,920
Speaker 2: It's wild to think that you guys pushed it to

807
00:36:49,000 --> 00:36:52,439
Speaker 2: number one on Amazon, and I think you guys, yeah,

808
00:36:52,520 --> 00:36:55,400
Speaker 2: as Jessa saying, you just don't realize how much that means,

809
00:36:55,480 --> 00:36:58,120
Speaker 2: like for the success of a book, right, because it's

810
00:36:58,160 --> 00:37:01,279
Speaker 2: already given me the opportunity going to Sydney to talk

811
00:37:01,280 --> 00:37:04,359
Speaker 2: at the Dimix conference, and like that'll be super fun

812
00:37:04,400 --> 00:37:06,560
Speaker 2: to be able to talk to actual booksellers about my

813
00:37:06,560 --> 00:37:09,920
Speaker 2: book writing process. And we're already talking to a few

814
00:37:09,960 --> 00:37:13,640
Speaker 2: people about potential events. And originally when we launched the

815
00:37:13,640 --> 00:37:15,759
Speaker 2: first book, obviously the first book, they've got to see

816
00:37:15,800 --> 00:37:18,880
Speaker 2: how you go, but we weren't able to have an

817
00:37:18,880 --> 00:37:21,120
Speaker 2: event and it wasn't something that was on the cards

818
00:37:21,120 --> 00:37:23,400
Speaker 2: because COVID and then we really wanted to and it

819
00:37:23,520 --> 00:37:27,560
Speaker 2: just never eventuated. But now we're talking about potentially having

820
00:37:27,560 --> 00:37:30,319
Speaker 2: events in Melbourne, Sydney and Brisbane and that would be

821
00:37:30,440 --> 00:37:33,440
Speaker 2: just so special to think that that would happen. And

822
00:37:33,640 --> 00:37:35,880
Speaker 2: it only happens if you have good pre sales because

823
00:37:35,960 --> 00:37:37,839
Speaker 2: otherwise they look at it and go, well, you know,

824
00:37:37,920 --> 00:37:39,520
Speaker 2: how are we going to know that people will turn

825
00:37:39,600 --> 00:37:41,479
Speaker 2: up to these events for this book if the book

826
00:37:41,520 --> 00:37:44,840
Speaker 2: isn't even preselling. So it's just it's honestly so special

827
00:37:44,920 --> 00:37:47,359
Speaker 2: and to know you guys support us in that way,

828
00:37:47,440 --> 00:37:49,759
Speaker 2: like it's wild to think that you're willing to buy

829
00:37:49,840 --> 00:37:53,520
Speaker 2: book you can't even see the chapters of. Yeah, like

830
00:37:53,600 --> 00:37:54,680
Speaker 2: it's so special.

831
00:37:54,840 --> 00:37:56,960
Speaker 4: And if you can't pre order, because we have had

832
00:37:56,960 --> 00:37:58,360
Speaker 4: a few people message and say, oh my gosh, I

833
00:37:58,360 --> 00:37:59,760
Speaker 4: want to support you, but it's just not in budget

834
00:37:59,800 --> 00:38:02,360
Speaker 4: right now, girl, we get it. You can support us

835
00:38:02,400 --> 00:38:05,240
Speaker 4: in so many other ways, sharing the book to your stories,

836
00:38:05,280 --> 00:38:07,240
Speaker 4: sharing She's on the Money in general, to your stories,

837
00:38:07,320 --> 00:38:10,680
Speaker 4: or with your friends and family. Libraries as well do

838
00:38:10,840 --> 00:38:15,000
Speaker 4: this thing where you can essentially request an upcoming title.

839
00:38:15,120 --> 00:38:17,040
Speaker 4: So if you want to borrow She's on the Money

840
00:38:17,040 --> 00:38:19,160
Speaker 4: from your local library, get in touch, send them an

841
00:38:19,160 --> 00:38:21,000
Speaker 4: email and say, hey, I really want this book. Do

842
00:38:21,000 --> 00:38:22,840
Speaker 4: you have a plan to bring it in? Some libraries

843
00:38:22,920 --> 00:38:26,239
Speaker 4: have a pre order, it's not really an order, but

844
00:38:26,280 --> 00:38:29,200
Speaker 4: you can pre put yourself on a list to borrow.

845
00:38:28,960 --> 00:38:29,640
Speaker 5: It as well.

846
00:38:29,719 --> 00:38:30,760
Speaker 2: Yeah, it's so cool.

847
00:38:30,920 --> 00:38:33,799
Speaker 4: Every little step like that really counts. And for our

848
00:38:33,880 --> 00:38:36,400
Speaker 4: little business to be able to be having the impact

849
00:38:36,400 --> 00:38:38,560
Speaker 4: that we're having, it's all thanks to you, guys, and we're.

850
00:38:38,440 --> 00:38:41,600
Speaker 2: Just so had. All right, Well, I think that is

851
00:38:41,640 --> 00:38:44,239
Speaker 2: a very special place to leave it. Thank you so

852
00:38:44,400 --> 00:38:47,160
Speaker 2: much for surprising me with that, Jess. That is so

853
00:38:47,640 --> 00:38:51,640
Speaker 2: flipping cool. But unfortunately that is all we have time

854
00:38:51,680 --> 00:38:54,319
Speaker 2: for today. So miss Georgia King, could you please put

855
00:38:54,360 --> 00:38:56,799
Speaker 2: down the second book and wrap the boring.

856
00:38:56,560 --> 00:38:59,840
Speaker 5: But important stuff? Absolutely I can already. Guys, Please remember

857
00:38:59,840 --> 00:39:01,880
Speaker 5: that the advice shared on She's on the Money is

858
00:39:01,920 --> 00:39:05,280
Speaker 5: general in nature and does not consider your individual circumstances.

859
00:39:05,600 --> 00:39:08,759
Speaker 5: She's on the Money exists purely for educational purposes and

860
00:39:08,800 --> 00:39:11,000
Speaker 5: should not be relied upon to make an investment or

861
00:39:11,080 --> 00:39:14,919
Speaker 5: a financial decision. And we promise Victoria divine and She's

862
00:39:14,960 --> 00:39:18,440
Speaker 5: on the Money are authorized representatives of in Focused Securities

863
00:39:18,440 --> 00:39:22,399
Speaker 5: Australia Proprietary Limited ABN four seven zero nine seven seven

864
00:39:22,480 --> 00:39:25,239
Speaker 5: nine seven zero four nine AFOSL two three six five

865
00:39:25,320 --> 00:39:25,799
Speaker 5: two three.

866
00:39:25,960 --> 00:39:27,640
Speaker 2: See you next week, guys, fias