1 00:00:00,680 --> 00:00:01,000 Speaker 1: Hello. 2 00:00:01,560 --> 00:00:05,040 Speaker 2: My name's Santasha Nabananga Bamblet. I'm a proud yr the 3 00:00:05,160 --> 00:00:08,760 Speaker 2: Order Kerney Whoalbury and a waddery woman. And before we 4 00:00:08,800 --> 00:00:11,440 Speaker 2: get started on She's on the Money podcast, I would 5 00:00:11,520 --> 00:00:14,520 Speaker 2: like to acknowledge the traditional custodians of the land of 6 00:00:14,560 --> 00:00:18,680 Speaker 2: which this podcast is recorded on a wondery country, acknowledging 7 00:00:18,680 --> 00:00:22,560 Speaker 2: the elders, the ancestors and the next generation coming through 8 00:00:23,040 --> 00:00:27,159 Speaker 2: as this podcast is about connecting, empowering, knowledge sharing and 9 00:00:27,240 --> 00:00:30,600 Speaker 2: the storytelling of you to make a difference for today 10 00:00:31,040 --> 00:00:32,640 Speaker 2: and lasting impact for tomorrow. 11 00:00:33,320 --> 00:00:34,120 Speaker 1: Let's get into it. 12 00:00:34,800 --> 00:00:54,040 Speaker 3: She's on the Money, She's on the Money. 13 00:00:57,840 --> 00:01:01,880 Speaker 4: Hello, and welcome to She's the Podcast Millennials who Want 14 00:01:01,920 --> 00:01:05,360 Speaker 4: Financial Freedom. My name is Jessica Ricky and with me 15 00:01:05,480 --> 00:01:08,959 Speaker 4: as always, is finance expert Victoria to Fine. 16 00:01:09,120 --> 00:01:11,640 Speaker 1: I am so excited about this episode. 17 00:01:11,800 --> 00:01:14,360 Speaker 4: It is another opportunity to talk to you guys about 18 00:01:14,360 --> 00:01:16,880 Speaker 4: how to develop an investing plan and I could not 19 00:01:17,040 --> 00:01:20,679 Speaker 4: be more excited about it. I am so excited to 20 00:01:20,680 --> 00:01:23,720 Speaker 4: be back. We've just had a Christmas break, We're feeling refreshed, 21 00:01:23,760 --> 00:01:27,520 Speaker 4: we're feeling good, and we are hopefully feeling ready to 22 00:01:27,600 --> 00:01:30,240 Speaker 4: tackle the new year. And set ourselves up to hopefully 23 00:01:30,440 --> 00:01:34,920 Speaker 4: have a very successful, very prosperous hopefully. Yeah, I hate 24 00:01:34,959 --> 00:01:37,440 Speaker 4: the word prosperous. I feel like like I love the 25 00:01:37,600 --> 00:01:40,040 Speaker 4: intent of the word, but I feel like that we're 26 00:01:40,120 --> 00:01:44,000 Speaker 4: just prosperous just sounds like it's gate kept for wealthy people. 27 00:01:44,560 --> 00:01:46,720 Speaker 4: I would like everyone to have a prosperous Yeah. Same, 28 00:01:46,800 --> 00:01:48,560 Speaker 4: I don't want them to not have a prosper I 29 00:01:48,600 --> 00:01:50,920 Speaker 4: just don't like the word. Anyway, we can move on 30 00:01:51,000 --> 00:01:54,080 Speaker 4: because I have a whole laundry list of stuff to 31 00:01:54,120 --> 00:01:56,680 Speaker 4: get through. I really want to take you guys through 32 00:01:57,080 --> 00:01:59,520 Speaker 4: not only setting up an investment plan, which we've obviously 33 00:01:59,520 --> 00:02:02,000 Speaker 4: covered before, but like recap it so it's front of 34 00:02:02,040 --> 00:02:04,840 Speaker 4: mind and super fresh for the year to come. Because 35 00:02:05,000 --> 00:02:07,920 Speaker 4: even if you have already set up an investment plan, 36 00:02:08,160 --> 00:02:10,480 Speaker 4: an investment plan isn't something that you set and forget. 37 00:02:10,520 --> 00:02:13,239 Speaker 4: It's something that we consistently check on and make sure 38 00:02:13,240 --> 00:02:16,360 Speaker 4: that we're up to date with because things change right now, 39 00:02:16,400 --> 00:02:18,800 Speaker 4: even if they don't feel like they are very different, 40 00:02:18,919 --> 00:02:21,799 Speaker 4: Even if we press rewind till the fourth of January 41 00:02:21,880 --> 00:02:25,720 Speaker 4: last year, I guarantee things are very different. And you 42 00:02:25,760 --> 00:02:27,720 Speaker 4: know what, that's not a bad thing, but we need 43 00:02:27,760 --> 00:02:28,680 Speaker 4: to be on top of it. 44 00:02:28,840 --> 00:02:30,400 Speaker 1: So Jess, let's get into it. 45 00:02:30,760 --> 00:02:32,800 Speaker 4: I know none of this will come as a surprise, 46 00:02:32,919 --> 00:02:35,440 Speaker 4: but we are here to refresh you, here to review 47 00:02:35,480 --> 00:02:37,880 Speaker 4: everything and to hopefully give you a little bit of 48 00:02:37,919 --> 00:02:41,560 Speaker 4: motivation to kick things off in a very very exciting way. 49 00:02:41,720 --> 00:02:44,360 Speaker 4: Sounds incredible, all right, VD Where do we begin? 50 00:02:44,760 --> 00:02:45,320 Speaker 1: Ye knew me? 51 00:02:45,400 --> 00:02:47,320 Speaker 4: What is the very first step that I should be 52 00:02:47,360 --> 00:02:50,400 Speaker 4: taking to set up my brand new, shiny investment plan? 53 00:02:50,520 --> 00:02:52,440 Speaker 4: All right, So, whether you're planning on setting up a 54 00:02:52,480 --> 00:02:55,000 Speaker 4: new investment plan or just refreshing and reviewing one that 55 00:02:55,160 --> 00:02:57,640 Speaker 4: exists already, the first thing I'm going to say is 56 00:02:57,720 --> 00:03:00,720 Speaker 4: review your finances. So if we re wind back to 57 00:03:00,840 --> 00:03:02,760 Speaker 4: season one, if she's on the money, I think, like 58 00:03:02,880 --> 00:03:06,160 Speaker 4: episode two, it was very very long ago. But the 59 00:03:06,240 --> 00:03:09,320 Speaker 4: reason it's there is because it's always relevant. So we 60 00:03:09,360 --> 00:03:12,120 Speaker 4: are going to do a bank account audit. It is 61 00:03:12,200 --> 00:03:15,320 Speaker 4: not very exciting, I promise, but with a good glass 62 00:03:15,320 --> 00:03:17,680 Speaker 4: of wine or a cup of tea or even maybe 63 00:03:17,760 --> 00:03:20,400 Speaker 4: like an apperole in hand this time of year, I 64 00:03:20,480 --> 00:03:23,320 Speaker 4: promise it can be a good exercise. But what you're 65 00:03:23,360 --> 00:03:26,360 Speaker 4: going to do is sit down and go through your 66 00:03:26,360 --> 00:03:29,000 Speaker 4: bank statements. So you're going to print out and I 67 00:03:29,080 --> 00:03:31,120 Speaker 4: know that we want to save paper in this house, 68 00:03:31,360 --> 00:03:33,840 Speaker 4: but to me, this is one of the best ways 69 00:03:33,840 --> 00:03:36,120 Speaker 4: that you can actually do it because it's really visible. 70 00:03:36,200 --> 00:03:37,880 Speaker 4: It's not like, oh, I brought it on my phone 71 00:03:37,920 --> 00:03:39,840 Speaker 4: on a list or I just flicked through something on 72 00:03:39,880 --> 00:03:43,160 Speaker 4: my phone, like that's not powerful. Power is holding it 73 00:03:43,200 --> 00:03:45,240 Speaker 4: in your hands and actually being able to see like, 74 00:03:45,280 --> 00:03:47,760 Speaker 4: oh my gosh, this means this, and this means that. 75 00:03:48,120 --> 00:03:51,560 Speaker 4: So you're going to grab two colored highlighters, different colors please, 76 00:03:51,960 --> 00:03:54,000 Speaker 4: and you are going to go through three months with 77 00:03:54,200 --> 00:03:57,920 Speaker 4: your bank account statements and highlight your discretionary expenses in 78 00:03:57,960 --> 00:04:00,800 Speaker 4: one color and your non discretionary expenses in the other. 79 00:04:01,200 --> 00:04:04,000 Speaker 4: So discretionary expenses are the things that you don't really 80 00:04:04,080 --> 00:04:06,800 Speaker 4: need to spend money on to survive. So we're talking 81 00:04:06,880 --> 00:04:11,560 Speaker 4: like take away and shopping and Christmas expenses. We are 82 00:04:11,560 --> 00:04:13,920 Speaker 4: going to go through things that you know you don't 83 00:04:14,040 --> 00:04:16,479 Speaker 4: have to spend money on to survive. We're not saying 84 00:04:16,480 --> 00:04:19,120 Speaker 4: that you can't. This isn't a good or a bad conversation. 85 00:04:19,200 --> 00:04:21,920 Speaker 4: It's just highlight your discretionary in the green and then 86 00:04:21,960 --> 00:04:24,360 Speaker 4: in your pink highlighter. You're going to highlight your non 87 00:04:24,400 --> 00:04:27,800 Speaker 4: discretionary so that's things like rent or mortgage, or your 88 00:04:27,880 --> 00:04:31,159 Speaker 4: electricity bills or your grocery bills or things that we 89 00:04:31,320 --> 00:04:33,640 Speaker 4: don't have a lot of power over because the second 90 00:04:33,760 --> 00:04:36,640 Speaker 4: that we do that, we can see where our split 91 00:04:36,680 --> 00:04:39,920 Speaker 4: of money is going. But also, as you highlight things 92 00:04:39,920 --> 00:04:43,000 Speaker 4: that are discretionary, you can go, oh, my gosh, that 93 00:04:43,120 --> 00:04:45,600 Speaker 4: isn't the line to my values, or I do like this, 94 00:04:45,800 --> 00:04:48,000 Speaker 4: or I don't like this, And to me, that's a 95 00:04:48,040 --> 00:04:51,760 Speaker 4: really powerful place to start. And putting everything in perspective 96 00:04:52,200 --> 00:04:54,400 Speaker 4: means that when you go to do a budget and 97 00:04:54,440 --> 00:04:56,839 Speaker 4: a cash flow, you're more likely to know where you 98 00:04:56,839 --> 00:04:59,359 Speaker 4: want to pull things in, or it's going to highlight 99 00:04:59,400 --> 00:05:00,960 Speaker 4: areas that you spending. 100 00:05:00,600 --> 00:05:03,240 Speaker 1: That maybe you weren't as aware of as you could be. 101 00:05:03,560 --> 00:05:05,440 Speaker 4: I remember the first time I ever did this, I 102 00:05:05,520 --> 00:05:09,080 Speaker 4: was shocked just by the sheer volume of transactions that 103 00:05:09,200 --> 00:05:11,479 Speaker 4: came out, because I mean, you never really go through 104 00:05:11,520 --> 00:05:14,279 Speaker 4: unless you're looking for something specific. You never really go 105 00:05:14,520 --> 00:05:17,040 Speaker 4: through line by line what you've got, which I guess 106 00:05:17,120 --> 00:05:18,840 Speaker 4: is the whole purpose of this. And I printed it 107 00:05:18,920 --> 00:05:20,640 Speaker 4: out and I remember it's like ten pages or something 108 00:05:20,640 --> 00:05:21,279 Speaker 4: from US time I was. 109 00:05:21,240 --> 00:05:23,400 Speaker 1: Like, atio of wine. 110 00:05:23,640 --> 00:05:25,160 Speaker 4: Yeah, I was like, oh my gosh, I'm gonna be 111 00:05:25,200 --> 00:05:28,240 Speaker 4: here forever. It is actually like that, and that's why 112 00:05:28,279 --> 00:05:30,440 Speaker 4: I always say, like, grab a glass of wine or 113 00:05:30,440 --> 00:05:32,479 Speaker 4: a cup of tea and do it as kind of 114 00:05:32,680 --> 00:05:35,919 Speaker 4: I would say self care activity, because it's not meant 115 00:05:35,920 --> 00:05:38,120 Speaker 4: to be oh my gosh, chess, like you're so naughty. 116 00:05:38,160 --> 00:05:41,560 Speaker 4: You've had so many transactions. I think what the intention 117 00:05:41,720 --> 00:05:44,240 Speaker 4: of this activity is one to understand where your money 118 00:05:44,240 --> 00:05:46,120 Speaker 4: is going and what you're spending it on, but just 119 00:05:46,120 --> 00:05:50,400 Speaker 4: to highlight to you literally very physically, because you know 120 00:05:50,480 --> 00:05:53,919 Speaker 4: these days, money isn't that physical that it is actually 121 00:05:53,920 --> 00:05:56,800 Speaker 4: the small things that add up. It's the one dollar 122 00:05:56,839 --> 00:06:00,560 Speaker 4: slope at seven eleven consistently, it is everyday toffee. Yeah, 123 00:06:00,560 --> 00:06:01,640 Speaker 4: but do you know what I mean, Like, it's the 124 00:06:01,720 --> 00:06:04,239 Speaker 4: small things that we spend on that we go far out. 125 00:06:04,320 --> 00:06:06,479 Speaker 4: Like I knew I did that and it didn't quote matter, 126 00:06:06,920 --> 00:06:09,080 Speaker 4: But I wish I didn't do that as much because 127 00:06:09,080 --> 00:06:11,279 Speaker 4: I didn't realize that would mean an extra twenty dollars 128 00:06:11,320 --> 00:06:13,680 Speaker 4: towards something that I really really care about at the 129 00:06:13,760 --> 00:06:16,800 Speaker 4: end of the month. So it's really about pulling together 130 00:06:16,839 --> 00:06:19,919 Speaker 4: all of your finances and reviewing them, not just going 131 00:06:20,160 --> 00:06:21,000 Speaker 4: do I pay rent? 132 00:06:21,160 --> 00:06:21,400 Speaker 2: Yes? 133 00:06:21,640 --> 00:06:22,320 Speaker 4: Do you know what I mean? 134 00:06:22,400 --> 00:06:22,479 Speaker 2: Like? 135 00:06:22,520 --> 00:06:25,479 Speaker 4: I feel like it can sound like a bland exercise, 136 00:06:25,760 --> 00:06:29,440 Speaker 4: but I get so many messages so consistently from people saying, 137 00:06:29,480 --> 00:06:31,800 Speaker 4: oh my gosh, Victoria, I did this. I'd been putting 138 00:06:31,839 --> 00:06:34,120 Speaker 4: it off because it just didn't make sense. I actually 139 00:06:34,200 --> 00:06:36,440 Speaker 4: feel so on top of my money now I know 140 00:06:36,480 --> 00:06:38,440 Speaker 4: where every dollar is going. I feel like the new 141 00:06:38,520 --> 00:06:39,920 Speaker 4: year is a good time to do that as well, 142 00:06:39,920 --> 00:06:42,159 Speaker 4: because we're all feeling good about setting ourselves up and 143 00:06:42,200 --> 00:06:44,640 Speaker 4: setting new intentions. And we spoke a lot about this 144 00:06:45,040 --> 00:06:48,320 Speaker 4: last week in our goal setting episode, but kind of 145 00:06:48,560 --> 00:06:51,240 Speaker 4: harnessing the power of how we're feeling right now. We're 146 00:06:51,240 --> 00:06:53,719 Speaker 4: all feeling good and excited and shiny and new. And 147 00:06:53,760 --> 00:06:55,160 Speaker 4: do you know why I'm making you do it at 148 00:06:55,160 --> 00:06:57,159 Speaker 4: the start of the year as well, Jess? And why 149 00:06:57,200 --> 00:06:58,800 Speaker 4: I made you include Christmas in it? 150 00:06:58,960 --> 00:07:01,839 Speaker 1: Why? Because is one the next step. 151 00:07:01,880 --> 00:07:03,280 Speaker 4: I'm going to spoil it now we're going to talk 152 00:07:03,279 --> 00:07:05,520 Speaker 4: about budgeting, but I need you to know what you 153 00:07:05,600 --> 00:07:08,240 Speaker 4: spent on Christmas so that we now have a full 154 00:07:08,400 --> 00:07:12,080 Speaker 4: twelve months to set ourselves up for financial success during 155 00:07:12,120 --> 00:07:15,600 Speaker 4: a festive period because it's the one thing that's always 156 00:07:15,600 --> 00:07:18,600 Speaker 4: going to happen, like if you celebrate Christmas or you 157 00:07:18,680 --> 00:07:22,040 Speaker 4: celebrate something festive at that period of the year, like 158 00:07:22,280 --> 00:07:24,920 Speaker 4: you know it's coming, and it's really hard to budget 159 00:07:25,000 --> 00:07:27,400 Speaker 4: for it when you're like, oh far out, like all right, well, 160 00:07:27,520 --> 00:07:29,520 Speaker 4: I'm going to get Jess a present it'll be fifty dollars, 161 00:07:29,600 --> 00:07:31,840 Speaker 4: or get analse At a present that'll be fifty dollars, 162 00:07:32,200 --> 00:07:34,360 Speaker 4: and then actually going through your bank statements is going 163 00:07:34,400 --> 00:07:36,720 Speaker 4: to show you, oh, well, Jess's present was actually sixty 164 00:07:36,760 --> 00:07:39,520 Speaker 4: five and Analysa's was actually forty dollars, or you know, 165 00:07:39,640 --> 00:07:42,280 Speaker 4: Gabby's present was actually one hundred and ten because you 166 00:07:42,400 --> 00:07:44,600 Speaker 4: wanted to get them something different. And I think that 167 00:07:44,840 --> 00:07:47,040 Speaker 4: it's not really about what you're spending, but being aware 168 00:07:47,080 --> 00:07:49,920 Speaker 4: of it, because if in January we started putting money 169 00:07:49,960 --> 00:07:53,040 Speaker 4: aside for Christmas, everybody would be so much less stressed 170 00:07:53,120 --> 00:07:55,760 Speaker 4: about something that's arguably gonna come up. Because you don't 171 00:07:55,760 --> 00:07:58,200 Speaker 4: just not celebrate Christmas one you like it's coming, let's 172 00:07:58,200 --> 00:08:00,800 Speaker 4: prepare for it. And it's not that sexy, but I promise, 173 00:08:01,240 --> 00:08:04,720 Speaker 4: especially right now where you're probably still feeling that overarching 174 00:08:04,800 --> 00:08:07,720 Speaker 4: feeling of stress from Christmas because it's still probably financially 175 00:08:07,760 --> 00:08:10,200 Speaker 4: impacting you. It's a good time to set that intention 176 00:08:10,360 --> 00:08:12,360 Speaker 4: and actually put yourself forward, because we don't want to 177 00:08:12,360 --> 00:08:14,400 Speaker 4: feel like this on the fourth of January next year. 178 00:08:14,480 --> 00:08:17,160 Speaker 4: Oh she's a thinker, and we know that a lot 179 00:08:17,200 --> 00:08:18,960 Speaker 4: of people are in the same boat and thinking about 180 00:08:19,000 --> 00:08:20,800 Speaker 4: the same thing as us, because when we did our 181 00:08:20,840 --> 00:08:24,040 Speaker 4: community Christmas Hacks episode a few weeks ago, that was 182 00:08:24,040 --> 00:08:25,680 Speaker 4: one of the top ones that came through. So we're 183 00:08:25,720 --> 00:08:28,520 Speaker 4: all clearly on the same wavelength. Talk to me about 184 00:08:28,520 --> 00:08:31,000 Speaker 4: budget and cash flow. I feel like again the new 185 00:08:31,080 --> 00:08:33,520 Speaker 4: year is the perfect time to be taking a look. 186 00:08:33,640 --> 00:08:36,000 Speaker 4: All right, so I spoiled it before, But the next 187 00:08:36,040 --> 00:08:38,600 Speaker 4: step is to do your budget and cash flow. You 188 00:08:38,640 --> 00:08:40,840 Speaker 4: can obviously jump online if you wanted to and do 189 00:08:40,960 --> 00:08:43,520 Speaker 4: our budget and cash flow program. Obviously I'm a little 190 00:08:43,520 --> 00:08:45,200 Speaker 4: bit biased and I think it works really well, but 191 00:08:45,240 --> 00:08:48,440 Speaker 4: so to thousands of other people. Or you could just 192 00:08:48,480 --> 00:08:51,120 Speaker 4: sit down and use our free budget tool on our website. 193 00:08:51,200 --> 00:08:53,160 Speaker 4: Yes it's a bit more manual, but money when it 194 00:08:53,280 --> 00:08:56,040 Speaker 4: is free and put yourself back in control. So you've 195 00:08:56,080 --> 00:08:58,280 Speaker 4: done your bank account audit, you kind of know a 196 00:08:58,280 --> 00:09:00,280 Speaker 4: little bit about where your money is going on. What's 197 00:09:00,280 --> 00:09:03,600 Speaker 4: going on. Now, let's sit down and actually do a budget. 198 00:09:03,679 --> 00:09:06,480 Speaker 4: Let's write down all of our expenses and where they're going, 199 00:09:06,840 --> 00:09:09,120 Speaker 4: and not only that, but take it to the next 200 00:09:09,240 --> 00:09:12,240 Speaker 4: level and create a cash flow system. So I think 201 00:09:12,280 --> 00:09:15,800 Speaker 4: that this, or from my perspective, this is where a 202 00:09:15,880 --> 00:09:19,080 Speaker 4: lot of money systems fall short. So doing a budget, 203 00:09:19,080 --> 00:09:21,199 Speaker 4: it's so exciting, right, Jess, Like, I know you love 204 00:09:21,240 --> 00:09:23,120 Speaker 4: doing a good budget because we talk about it all 205 00:09:23,120 --> 00:09:25,680 Speaker 4: the time, but we love sitting down and going I 206 00:09:25,720 --> 00:09:28,160 Speaker 4: feel so in control, I feel so empowered. I'm going 207 00:09:28,240 --> 00:09:30,200 Speaker 4: to write down all of my expenses and what I'm 208 00:09:30,240 --> 00:09:32,480 Speaker 4: going to budget for them, and what I earn and 209 00:09:32,559 --> 00:09:34,480 Speaker 4: what my debts are, and I'm going to, you know, 210 00:09:34,559 --> 00:09:37,080 Speaker 4: put it in this system that makes sense, and you 211 00:09:37,120 --> 00:09:39,280 Speaker 4: have this spreadsheet and then you file it away and 212 00:09:39,320 --> 00:09:42,000 Speaker 4: you never touch it again because it isn't reflective of 213 00:09:42,040 --> 00:09:44,839 Speaker 4: the cash flow system that you have. So a cash 214 00:09:44,840 --> 00:09:47,840 Speaker 4: flow system is a banking system that puts you in 215 00:09:47,920 --> 00:09:51,000 Speaker 4: control of your budget by making sure that every single 216 00:09:51,040 --> 00:09:53,560 Speaker 4: dollar that comes in has a home to go to. 217 00:09:53,960 --> 00:09:56,040 Speaker 4: So it might be a different bank account, it might 218 00:09:56,080 --> 00:09:59,280 Speaker 4: be your spending account every day, but it makes sure 219 00:09:59,600 --> 00:10:02,120 Speaker 4: that every every dollar goes into a cash hub, and 220 00:10:02,160 --> 00:10:04,960 Speaker 4: that cash hub keeps your money safe because it's so 221 00:10:05,200 --> 00:10:07,400 Speaker 4: easy to lose money over time. And I know that 222 00:10:07,400 --> 00:10:08,679 Speaker 4: people are going to be like, what do you mean 223 00:10:08,760 --> 00:10:11,640 Speaker 4: lose money, Victoria, But if it's in your spending account, 224 00:10:11,880 --> 00:10:13,440 Speaker 4: you might just spend it. You'll be like, Oh, there's 225 00:10:13,440 --> 00:10:15,920 Speaker 4: fifty bucks in there. I can afford another ten dollar sandwich. 226 00:10:15,960 --> 00:10:16,520 Speaker 1: It's all good. 227 00:10:16,800 --> 00:10:19,280 Speaker 4: And then come July this year, you're going to turn 228 00:10:19,280 --> 00:10:21,280 Speaker 4: around and be like, oh my gosh, I completely forgot 229 00:10:21,280 --> 00:10:23,760 Speaker 4: I had regrodu Like, we're going to plan for all 230 00:10:23,840 --> 00:10:26,920 Speaker 4: of that. So this year, finance isn't a stress for you, 231 00:10:27,200 --> 00:10:30,600 Speaker 4: but rather something that empowers you. And regardless of what 232 00:10:30,679 --> 00:10:34,360 Speaker 4: financial situation you were in, whether you are in significant 233 00:10:34,480 --> 00:10:37,800 Speaker 4: personal debt, whether you are a millionaire, whether you are 234 00:10:38,040 --> 00:10:41,040 Speaker 4: just about to save your first home deposit, I promise 235 00:10:41,200 --> 00:10:43,560 Speaker 4: having a cash flow system is going to make you 236 00:10:43,600 --> 00:10:46,839 Speaker 4: feel far more empowered in all of those situations. 237 00:10:47,200 --> 00:10:48,000 Speaker 1: I promise. 238 00:10:48,360 --> 00:10:50,560 Speaker 4: Even if you are in debt and burying your head 239 00:10:50,600 --> 00:10:53,200 Speaker 4: in the sand right now without money, you're not going 240 00:10:53,240 --> 00:10:55,840 Speaker 4: to feel stressed about it because there's a plan, there's 241 00:10:55,840 --> 00:10:58,720 Speaker 4: a system. It takes the weight off your shoulders and 242 00:10:58,800 --> 00:11:01,120 Speaker 4: puts it on the system as opposed to you. And 243 00:11:01,160 --> 00:11:03,559 Speaker 4: I think that that is one of the most empowering 244 00:11:03,640 --> 00:11:06,080 Speaker 4: things about a budget and cash flow system because they 245 00:11:06,120 --> 00:11:08,840 Speaker 4: work together to put you in a less stressed place 246 00:11:09,000 --> 00:11:12,240 Speaker 4: because there's a plan actually working, as opposed to a 247 00:11:12,280 --> 00:11:15,160 Speaker 4: cute spreadsheet that got filed away that didn't get looked 248 00:11:15,200 --> 00:11:17,480 Speaker 4: at and didn't actually help because I don't want to 249 00:11:17,480 --> 00:11:19,640 Speaker 4: look at it on a weekly basis. What about our 250 00:11:19,679 --> 00:11:22,120 Speaker 4: friends who might have done the right thing and set 251 00:11:22,120 --> 00:11:24,360 Speaker 4: themselves up with a really solid budget or a cash 252 00:11:24,400 --> 00:11:26,720 Speaker 4: flow last year, do they still need to be checking 253 00:11:26,720 --> 00:11:28,679 Speaker 4: in and reviewing it even if they feel like nothing's 254 00:11:28,679 --> 00:11:32,720 Speaker 4: really changed. Absolutely, because our values change over time and 255 00:11:32,760 --> 00:11:35,319 Speaker 4: the way we live our lives changes es like it 256 00:11:35,600 --> 00:11:38,360 Speaker 4: just is different. Like Jess, last year, you and I 257 00:11:38,440 --> 00:11:41,439 Speaker 4: were really into Polarates, but we haven't done that recently. 258 00:11:41,679 --> 00:11:44,160 Speaker 4: So imagine if I had an ongoing Polarities membership that 259 00:11:44,200 --> 00:11:46,320 Speaker 4: I'll still paying for and I still feel like, oh 260 00:11:46,320 --> 00:11:48,280 Speaker 4: I want that, I'll go back to that, but it's 261 00:11:48,320 --> 00:11:50,280 Speaker 4: like sixty bucks a month or something, and you know 262 00:11:50,360 --> 00:11:52,600 Speaker 4: we're not using it. Maybe it's time to just have 263 00:11:52,720 --> 00:11:56,400 Speaker 4: that highlighted to me and cancel it. I recently, as 264 00:11:56,480 --> 00:11:59,920 Speaker 4: you know, have been obsessed with the Real Housewives of PEVL. 265 00:12:00,880 --> 00:12:03,760 Speaker 4: I downloaded a new streaming platform and I have been 266 00:12:03,880 --> 00:12:07,679 Speaker 4: using that, but now vocalizing it, I've really stopped watching 267 00:12:07,880 --> 00:12:10,080 Speaker 4: Real Housewives of Beverly Hills because I don't have time. 268 00:12:10,120 --> 00:12:12,079 Speaker 4: I'm really busy at the moment. So you know what, 269 00:12:12,360 --> 00:12:14,959 Speaker 4: if I reviewed my budget, I could probably get rid 270 00:12:14,960 --> 00:12:17,840 Speaker 4: of that for now. Because the one thing that I 271 00:12:17,920 --> 00:12:20,920 Speaker 4: don't think people can sceptualize often when we talk about 272 00:12:20,960 --> 00:12:24,160 Speaker 4: budgeting is you can actually remove something from your budget 273 00:12:24,240 --> 00:12:26,040 Speaker 4: right now, but it doesn't mean you can't go back 274 00:12:26,040 --> 00:12:26,559 Speaker 4: to it. 275 00:12:26,559 --> 00:12:27,959 Speaker 1: It doesn't mean that when I get. 276 00:12:27,760 --> 00:12:30,280 Speaker 4: Back into Real Housewives of like Salt Lake City or 277 00:12:30,280 --> 00:12:32,960 Speaker 4: something that we're talking about the other day, I can't 278 00:12:33,000 --> 00:12:35,960 Speaker 4: re download it. I absolutely can, but right here and 279 00:12:36,040 --> 00:12:38,439 Speaker 4: now I will save like fifteen bucks a month by 280 00:12:38,480 --> 00:12:40,440 Speaker 4: just getting rid of it because I'm not using it. 281 00:12:40,679 --> 00:12:43,360 Speaker 4: So I think that reviewing your budget, regardless of where 282 00:12:43,440 --> 00:12:46,440 Speaker 4: you are, doesn't mean that you know your salary has changed. 283 00:12:46,480 --> 00:12:48,920 Speaker 4: It doesn't mean that your goals have changed. But there 284 00:12:48,960 --> 00:12:50,880 Speaker 4: are small tweaks along the way that we need to 285 00:12:50,960 --> 00:12:53,600 Speaker 4: track and it might not equal out that oh my gosh, 286 00:12:53,600 --> 00:12:55,960 Speaker 4: I've got heaps more in savings, but there might be 287 00:12:56,000 --> 00:12:58,560 Speaker 4: some going to a different bucket and one going to savings, 288 00:12:58,559 --> 00:13:00,959 Speaker 4: and you know, maybe something has changed and it might 289 00:13:01,080 --> 00:13:05,000 Speaker 4: just redirect the flow. Doesn't necessarily mean that we have 290 00:13:05,120 --> 00:13:07,920 Speaker 4: more savings, but in a perfect world it does. But 291 00:13:07,960 --> 00:13:09,880 Speaker 4: we always want to be super on top of it. 292 00:13:09,920 --> 00:13:12,079 Speaker 4: So the right dollar is going into the right bucket, 293 00:13:12,160 --> 00:13:14,840 Speaker 4: and we are putting ourselves in control. All right, So 294 00:13:14,840 --> 00:13:17,600 Speaker 4: we've done a financial audit, we know how much we're spending. 295 00:13:17,760 --> 00:13:19,679 Speaker 4: We've done our budget and cash flow, so we now 296 00:13:19,840 --> 00:13:21,800 Speaker 4: probably have a pretty good idea of what we can 297 00:13:21,880 --> 00:13:24,480 Speaker 4: allocate to investing. What is the next step we should 298 00:13:24,480 --> 00:13:27,280 Speaker 4: be taking. We are going to redo our goals. And 299 00:13:27,520 --> 00:13:30,040 Speaker 4: I love goal setting, especially at the start of the year, 300 00:13:30,120 --> 00:13:33,520 Speaker 4: because it's like near new me vibes, right, like everybody 301 00:13:33,840 --> 00:13:37,680 Speaker 4: the busiest time of gyms in the entire world is January. 302 00:13:37,800 --> 00:13:41,400 Speaker 4: It's because everyone sets these beautiful intentions from themselves. And 303 00:13:41,440 --> 00:13:43,400 Speaker 4: I've got a few girlfriends who used to work at 304 00:13:43,480 --> 00:13:46,600 Speaker 4: gym's and they both say, oh my gosh, Victoria, it's 305 00:13:46,640 --> 00:13:49,200 Speaker 4: so funny because all of these people start coming to 306 00:13:49,280 --> 00:13:52,800 Speaker 4: the gym religiously in January, and by February we're dead 307 00:13:52,920 --> 00:13:57,720 Speaker 4: quiet because everybody's set these goals, but they're unrealistic and 308 00:13:57,760 --> 00:14:00,960 Speaker 4: they don't maintain them throughout the year. So every single 309 00:14:01,080 --> 00:14:03,079 Speaker 4: year they laugh about it because they're like, oh, here 310 00:14:03,120 --> 00:14:05,880 Speaker 4: comes the January flow of people who aren't going to stay. 311 00:14:06,520 --> 00:14:09,600 Speaker 4: And that's kind of like our financial goals, right. It's 312 00:14:09,640 --> 00:14:13,760 Speaker 4: because these people going to the gym aren't setting realistic 313 00:14:13,800 --> 00:14:16,600 Speaker 4: goals for themselves. They're going, I'm going to go so 314 00:14:16,720 --> 00:14:18,880 Speaker 4: hard on this. It's not going to work if you 315 00:14:18,960 --> 00:14:21,760 Speaker 4: go so hard and don't actually intertwine it into the 316 00:14:21,800 --> 00:14:24,200 Speaker 4: life that you actually live. So what we're going to 317 00:14:24,280 --> 00:14:26,960 Speaker 4: do is set our financial goals. And the reason we're 318 00:14:26,960 --> 00:14:29,400 Speaker 4: going to do that is because obviously having a plan 319 00:14:29,680 --> 00:14:32,320 Speaker 4: means that you are ten times more likely to achieve 320 00:14:32,360 --> 00:14:36,000 Speaker 4: those goals. But it's a time to revisit the goals 321 00:14:36,000 --> 00:14:38,560 Speaker 4: you set last year and be a little bit critical 322 00:14:38,600 --> 00:14:41,280 Speaker 4: of them. So I don't mean crucify yourself if you 323 00:14:41,320 --> 00:14:43,960 Speaker 4: didn't achieve them. Let's say you set a goal of 324 00:14:44,000 --> 00:14:47,680 Speaker 4: saving ten thousand dollars last year. What happened to that goal? 325 00:14:47,800 --> 00:14:50,720 Speaker 4: Did you achieve it. Did you not achieve it? Did 326 00:14:50,760 --> 00:14:54,560 Speaker 4: you get halfway there? If so, why we're not crucifying ourselves. 327 00:14:54,600 --> 00:14:56,400 Speaker 4: We're not saying it's good or bad. But I want 328 00:14:56,400 --> 00:14:59,080 Speaker 4: to fully understand why you achieved that goal or maybe 329 00:14:59,080 --> 00:15:01,440 Speaker 4: why you didn't achieve that goal. Did you achieve it 330 00:15:01,480 --> 00:15:04,040 Speaker 4: really easily because you set a plan in place and 331 00:15:04,080 --> 00:15:06,480 Speaker 4: it was just autodirect debited from your account and that 332 00:15:06,600 --> 00:15:09,920 Speaker 4: was really easy. Hey, there's something we can replicate again 333 00:15:09,960 --> 00:15:12,800 Speaker 4: this year because it's tried and true. If you didn't 334 00:15:12,840 --> 00:15:15,920 Speaker 4: achieve that goal, why didn't we achieve that goal? Is 335 00:15:15,960 --> 00:15:18,760 Speaker 4: it because it was a stretch? Did you maybe not 336 00:15:18,880 --> 00:15:22,080 Speaker 4: break that goal down into small enough, bite sized pieces 337 00:15:22,120 --> 00:15:24,960 Speaker 4: to realize that ten thousand dollars over a year sounds 338 00:15:24,960 --> 00:15:27,600 Speaker 4: like a lot of money, but it's still twenty seven 339 00:15:27,680 --> 00:15:30,960 Speaker 4: dollars fifty each and every single day that you need 340 00:15:31,000 --> 00:15:33,720 Speaker 4: to have going into your savings account. And if that's 341 00:15:33,840 --> 00:15:37,720 Speaker 4: unobtainable and unachievable, why would we set that goal again 342 00:15:37,960 --> 00:15:40,520 Speaker 4: because it's not going to be met. How do we 343 00:15:40,560 --> 00:15:43,040 Speaker 4: create a plan that puts you in the driver's seat. 344 00:15:43,160 --> 00:15:45,440 Speaker 4: So I think whether you achieved a goal or you didn't, 345 00:15:45,600 --> 00:15:48,480 Speaker 4: we need to look at why that's the case, because 346 00:15:48,840 --> 00:15:52,400 Speaker 4: this year it's all about putting yourself back in control. 347 00:15:52,600 --> 00:15:54,960 Speaker 4: And if you did achieve it, fantastic. We can probably 348 00:15:55,000 --> 00:15:57,800 Speaker 4: do it again and do some more and create plans 349 00:15:58,000 --> 00:16:01,240 Speaker 4: that involve that way of setting goal. If you didn't 350 00:16:01,240 --> 00:16:03,240 Speaker 4: achieve it, let's go back to the drawing board and 351 00:16:03,280 --> 00:16:06,240 Speaker 4: find something that does work, because we can't keep trying 352 00:16:06,280 --> 00:16:08,640 Speaker 4: to make something work if it didn't work the first 353 00:16:08,640 --> 00:16:13,280 Speaker 4: twelve months that we implemented it. Yeah, that makes total sense. Already. 354 00:16:13,400 --> 00:16:15,120 Speaker 4: Don't go anywhere, guys. We're going to dash to a 355 00:16:15,120 --> 00:16:16,680 Speaker 4: really quick break. But when we come back, we're going 356 00:16:16,720 --> 00:16:18,480 Speaker 4: to tell you how to take everything we just spoke 357 00:16:18,520 --> 00:16:21,800 Speaker 4: about and use that for your investment plan. Don't go anywhere, 358 00:16:26,240 --> 00:16:28,920 Speaker 4: all righty, guys, welcome back. And you might have been 359 00:16:28,920 --> 00:16:31,480 Speaker 4: listening to that first half, going Victoria, I've barely heard 360 00:16:31,520 --> 00:16:33,240 Speaker 4: you say the word investing. It's your favorite thing in 361 00:16:33,280 --> 00:16:34,480 Speaker 4: the world. What's it going on? 362 00:16:35,080 --> 00:16:35,600 Speaker 1: It is? 363 00:16:36,040 --> 00:16:39,080 Speaker 4: Well, do not stress, everybody. We're about to get deep 364 00:16:39,120 --> 00:16:40,720 Speaker 4: into the nitty gritty of how you're going to take 365 00:16:40,760 --> 00:16:44,360 Speaker 4: all of these brand new year good vibes and set 366 00:16:44,360 --> 00:16:47,480 Speaker 4: yourself up for your investing plan. Genius VD where are 367 00:16:47,520 --> 00:16:50,160 Speaker 4: we starting? So first things first, I wanted to set 368 00:16:50,200 --> 00:16:52,080 Speaker 4: you up with the first half of this episode with 369 00:16:52,160 --> 00:16:55,440 Speaker 4: like a refresher because investment ultimately is about money, and 370 00:16:55,480 --> 00:16:58,640 Speaker 4: if we're not in control or really deeply understanding our money, 371 00:16:58,760 --> 00:17:01,560 Speaker 4: your investment plan's not going to last. So let's set 372 00:17:01,600 --> 00:17:04,080 Speaker 4: all of those up and let's call them like hygiene points. 373 00:17:04,320 --> 00:17:05,440 Speaker 1: You need to meet them. 374 00:17:05,680 --> 00:17:07,840 Speaker 4: It doesn't matter whether you like doing it or not. 375 00:17:07,920 --> 00:17:09,560 Speaker 4: It's kind of like brushing your teeth at the end 376 00:17:09,600 --> 00:17:11,679 Speaker 4: of the day, like you're meant to do it for 377 00:17:11,720 --> 00:17:14,639 Speaker 4: someone like, it's not the best task. I like brushing 378 00:17:14,680 --> 00:17:16,679 Speaker 4: my teeth, Jess, because I just don't like that fury 379 00:17:16,680 --> 00:17:19,360 Speaker 4: feeling like it keeps me anxiety and laying in bed, 380 00:17:19,400 --> 00:17:21,040 Speaker 4: I don't feel like I can go straight to sleep, 381 00:17:21,080 --> 00:17:23,960 Speaker 4: So for me it's become innate. But if you like 382 00:17:24,040 --> 00:17:26,479 Speaker 4: sometimes just go to bed without doing it, you know 383 00:17:26,520 --> 00:17:29,240 Speaker 4: it's not good for you. Right, So we actually need 384 00:17:29,240 --> 00:17:32,400 Speaker 4: to do those hygiene points before setting up an investment plan, 385 00:17:32,480 --> 00:17:35,280 Speaker 4: because otherwise that investment plan isn't sustainable. 386 00:17:35,760 --> 00:17:37,399 Speaker 1: So what are we going to do? 387 00:17:37,880 --> 00:17:41,280 Speaker 4: First things first, we've done episodes on this, so obviously 388 00:17:41,359 --> 00:17:43,200 Speaker 4: in the show notes we will link back, so you've 389 00:17:43,240 --> 00:17:46,240 Speaker 4: got more tools in your toolkit to reference. But the 390 00:17:46,240 --> 00:17:48,639 Speaker 4: first thing we're going to do is understand risk. So 391 00:17:48,840 --> 00:17:51,280 Speaker 4: I know I harp on about this all the time, 392 00:17:51,840 --> 00:17:55,080 Speaker 4: but even if you already have done your risk profile, 393 00:17:55,359 --> 00:17:57,800 Speaker 4: now's the time to do it again. And the reason 394 00:17:58,000 --> 00:18:00,359 Speaker 4: is because Jess, as we said before, you're not the 395 00:18:00,359 --> 00:18:02,240 Speaker 4: same person you were twelve months ago. 396 00:18:02,640 --> 00:18:03,440 Speaker 1: Things change. 397 00:18:03,600 --> 00:18:06,520 Speaker 4: Hopefully you've been listening to twelve months. If she's on 398 00:18:06,560 --> 00:18:10,240 Speaker 4: the money, and you're more educated, you're more empowered. Maybe 399 00:18:10,359 --> 00:18:14,320 Speaker 4: last year you started your investment portfolio and you're like, okay, 400 00:18:14,359 --> 00:18:17,480 Speaker 4: so I've started with micro investing and I'm dabbling in 401 00:18:17,560 --> 00:18:19,240 Speaker 4: this and I want to take it to the next 402 00:18:19,280 --> 00:18:22,639 Speaker 4: step and I feel more empowered. That's very likely going 403 00:18:22,720 --> 00:18:25,720 Speaker 4: to have changed your investment risk profile. And I know 404 00:18:25,800 --> 00:18:28,320 Speaker 4: that that sounds crazy because some people are like, shouldn't 405 00:18:28,320 --> 00:18:32,240 Speaker 4: that be the same? Always no, because it's really related 406 00:18:32,280 --> 00:18:35,640 Speaker 4: to how educated you are, the financial circumstances that you're 407 00:18:35,680 --> 00:18:39,159 Speaker 4: currently in, and what that actually means. So you're going 408 00:18:39,200 --> 00:18:41,560 Speaker 4: to go do your risk profile and fully understand what 409 00:18:41,600 --> 00:18:43,880 Speaker 4: it means for you, and to give it a really 410 00:18:43,960 --> 00:18:47,280 Speaker 4: quick summary. And investment risk is basically the likelihood that 411 00:18:47,320 --> 00:18:50,119 Speaker 4: you might lose money in something that you've invested, and 412 00:18:50,160 --> 00:18:53,000 Speaker 4: it takes into consideration a whole heap of different things, 413 00:18:53,280 --> 00:18:57,240 Speaker 4: so things like the market risk, your education, how old 414 00:18:57,320 --> 00:19:01,120 Speaker 4: you are, what your plan is, how long these goals are, 415 00:19:01,440 --> 00:19:03,720 Speaker 4: and puts you in a position where you get a 416 00:19:03,840 --> 00:19:06,320 Speaker 4: risk profile spat out and jess you might be a 417 00:19:06,320 --> 00:19:09,240 Speaker 4: growth investor, and then it will tell you the types 418 00:19:09,280 --> 00:19:12,640 Speaker 4: of investments that might best suit you. Because somebody who 419 00:19:12,720 --> 00:19:15,440 Speaker 4: is a growth investor, they come out and they will 420 00:19:15,560 --> 00:19:19,439 Speaker 4: very likely have a suggested portfolio that is made up 421 00:19:19,480 --> 00:19:22,920 Speaker 4: of shares. So most of that portfolio will be maybe 422 00:19:22,960 --> 00:19:26,359 Speaker 4: some international shares, maybe some domestic shares, it doesn't matter 423 00:19:26,359 --> 00:19:29,359 Speaker 4: how that split is, but their amount of cash that 424 00:19:29,400 --> 00:19:30,920 Speaker 4: they're holding will be very low. 425 00:19:31,320 --> 00:19:32,240 Speaker 1: I was looking at my. 426 00:19:32,280 --> 00:19:34,440 Speaker 4: Investment profile the other day, and I am a high 427 00:19:34,520 --> 00:19:38,040 Speaker 4: growth investor, so I only hold two percent cash, and 428 00:19:38,080 --> 00:19:40,360 Speaker 4: to be honest, as a high growth investor, a lot 429 00:19:40,359 --> 00:19:42,880 Speaker 4: of people don't even hold any cash. 430 00:19:42,480 --> 00:19:43,119 Speaker 1: At that point. 431 00:19:43,160 --> 00:19:45,280 Speaker 4: But I like to have a little bit of flexibility, 432 00:19:45,600 --> 00:19:48,800 Speaker 4: Whereas if you came out as more of a conservative investor, 433 00:19:48,920 --> 00:19:51,320 Speaker 4: it's very likely that you might have like forty percent 434 00:19:51,400 --> 00:19:55,120 Speaker 4: international shares, forty percent domestic shares and then twenty percent 435 00:19:55,520 --> 00:19:59,080 Speaker 4: of cash or bonds or something a little bit more stable. 436 00:19:59,320 --> 00:20:01,919 Speaker 4: So it really and it's actually really important to have 437 00:20:02,000 --> 00:20:05,000 Speaker 4: this guideline so that you're investing in line with the 438 00:20:05,119 --> 00:20:06,560 Speaker 4: risk that you want to take on. 439 00:20:06,960 --> 00:20:08,280 Speaker 1: And you don't get another. 440 00:20:08,040 --> 00:20:10,240 Speaker 4: Twelve month down the line you're like, oh my gosh, yes, 441 00:20:10,440 --> 00:20:13,560 Speaker 4: like I'm so stressed because I don't fully comprehend this, 442 00:20:14,000 --> 00:20:16,680 Speaker 4: or I feel really uncomfortable with this, or this isn't 443 00:20:16,720 --> 00:20:18,880 Speaker 4: the right fit for me. All Right, that sounds good. 444 00:20:19,080 --> 00:20:21,480 Speaker 4: I love the tip to go back and refreshing case 445 00:20:21,480 --> 00:20:23,879 Speaker 4: it's changed. What should we be doing next? Okay, so 446 00:20:24,040 --> 00:20:27,920 Speaker 4: next is to research your investment options. So you need 447 00:20:27,960 --> 00:20:30,679 Speaker 4: to find the right investment option for you. So, as 448 00:20:30,760 --> 00:20:33,600 Speaker 4: I said before, first we start with our risk profile, 449 00:20:33,680 --> 00:20:35,480 Speaker 4: so we know what we need to look at. Because, yes, 450 00:20:35,680 --> 00:20:37,880 Speaker 4: if you come out as a high growth investor, why 451 00:20:37,880 --> 00:20:40,479 Speaker 4: would you spend too much time researching bonds as an 452 00:20:40,480 --> 00:20:43,359 Speaker 4: option because they're not an option that most high growth 453 00:20:43,359 --> 00:20:46,520 Speaker 4: investors are trying to pick. So to find the right 454 00:20:46,520 --> 00:20:48,760 Speaker 4: investment option for you, we're going to do a few things. 455 00:20:48,920 --> 00:20:52,280 Speaker 4: We're gonna understand return. So, like, what is the expected 456 00:20:52,320 --> 00:20:55,159 Speaker 4: return on that investment that you want to make. You're 457 00:20:55,200 --> 00:20:57,399 Speaker 4: gonna look at the timeframe. So how long are you 458 00:20:57,440 --> 00:20:59,960 Speaker 4: investing for? Is this like for two or three years, 459 00:21:00,040 --> 00:21:01,680 Speaker 4: in which case you're probably going to go with something 460 00:21:01,680 --> 00:21:02,840 Speaker 4: a little bit more conservative. 461 00:21:03,160 --> 00:21:05,240 Speaker 1: Is it five years? Is it ten years? Is it 462 00:21:05,280 --> 00:21:06,000 Speaker 1: for the long term? 463 00:21:06,040 --> 00:21:08,720 Speaker 4: Is this like your financial freedom investment so that you 464 00:21:08,760 --> 00:21:11,760 Speaker 4: can retire, in which case that's a really long timeframe, 465 00:21:11,800 --> 00:21:14,480 Speaker 4: so you could probably afford to have a little bit 466 00:21:14,520 --> 00:21:18,440 Speaker 4: more risk. So we need to understand that what access 467 00:21:18,480 --> 00:21:21,600 Speaker 4: to cash do we need? So are you renovating a 468 00:21:21,600 --> 00:21:24,439 Speaker 4: house right now and you want to start investing, but 469 00:21:24,520 --> 00:21:26,800 Speaker 4: you also know you're going to need ten thousand dollars 470 00:21:26,840 --> 00:21:29,399 Speaker 4: in a few months to pay offer Chibby. Well, in 471 00:21:29,440 --> 00:21:31,800 Speaker 4: that case, it's not that smart to invest that money 472 00:21:31,880 --> 00:21:34,800 Speaker 4: right now because you need it to be quite liquid. 473 00:21:35,520 --> 00:21:37,800 Speaker 4: What is the cost to buy and sell? So how 474 00:21:37,880 --> 00:21:39,480 Speaker 4: much is it going to cost you to get into 475 00:21:39,480 --> 00:21:42,160 Speaker 4: the share market? What does that actually mean? How much 476 00:21:42,200 --> 00:21:44,560 Speaker 4: brokerage are you paying? And how much does it cost 477 00:21:44,600 --> 00:21:47,359 Speaker 4: to exit that investment? Because something that a lot of 478 00:21:47,400 --> 00:21:50,960 Speaker 4: people forget is that sometimes there'll be an exit cost. 479 00:21:51,280 --> 00:21:52,440 Speaker 1: And I know that at this. 480 00:21:52,560 --> 00:21:54,040 Speaker 4: Time of the year, there are going to be a 481 00:21:54,160 --> 00:21:56,560 Speaker 4: whole heave of people saying, Oh my gosh, we've got 482 00:21:56,560 --> 00:21:59,639 Speaker 4: free brokerage, we've got this, we've got that no cost 483 00:21:59,680 --> 00:22:02,600 Speaker 4: at all to trade on our platform. Look a little 484 00:22:02,640 --> 00:22:05,919 Speaker 4: bit deeper, because one nothing worth having is ever free. 485 00:22:06,480 --> 00:22:09,280 Speaker 4: There's very likely to be an exit fee on that 486 00:22:09,440 --> 00:22:11,639 Speaker 4: because they need to make money somewhere, Jess. 487 00:22:12,119 --> 00:22:13,240 Speaker 1: The next is tax. 488 00:22:13,520 --> 00:22:16,080 Speaker 4: I really need you to know what is involved when 489 00:22:16,119 --> 00:22:19,720 Speaker 4: it comes to tax, because there are tax implications, and 490 00:22:19,760 --> 00:22:22,320 Speaker 4: I don't want you to be stung with anything unnecessarily. 491 00:22:22,640 --> 00:22:24,760 Speaker 1: If you're starting really small, it doesn't matter. 492 00:22:24,560 --> 00:22:28,159 Speaker 4: Too much if I'm being honest, because if you're making money, 493 00:22:28,359 --> 00:22:31,320 Speaker 4: we are paying tax money win. But if you're in 494 00:22:31,359 --> 00:22:34,000 Speaker 4: a circumstance where you maybe have an inheritance and you're 495 00:22:34,000 --> 00:22:37,880 Speaker 4: looking at selling that portfolio, there are going to be implications. 496 00:22:38,080 --> 00:22:40,879 Speaker 4: If you have put a very large amount of money 497 00:22:40,920 --> 00:22:43,199 Speaker 4: into the market and you're planning on selling it in 498 00:22:43,280 --> 00:22:46,879 Speaker 4: nine months, Yess, I'd be really careful because if you 499 00:22:46,960 --> 00:22:49,440 Speaker 4: then made money, you're going to be up for fifty 500 00:22:49,440 --> 00:22:52,679 Speaker 4: percent capital gains tax, and that's not that sexy. So 501 00:22:52,800 --> 00:22:54,639 Speaker 4: while we don't need to be scared, of it. We 502 00:22:54,720 --> 00:22:57,600 Speaker 4: do need to be super aware and put ourselves back 503 00:22:57,680 --> 00:22:59,199 Speaker 4: in a position where we're like, yep, I know what 504 00:22:59,240 --> 00:23:01,000 Speaker 4: I'm doing, really okay with it. 505 00:23:01,000 --> 00:23:01,800 Speaker 1: It is all good. 506 00:23:02,359 --> 00:23:04,800 Speaker 4: But we then need after that to look at our 507 00:23:04,880 --> 00:23:07,960 Speaker 4: platform of choice. So we've done a whole episode on 508 00:23:08,040 --> 00:23:11,359 Speaker 4: this and we will absolutely link in the show notes 509 00:23:11,560 --> 00:23:14,080 Speaker 4: back to this episode to make sure that's another tool 510 00:23:14,119 --> 00:23:16,679 Speaker 4: that you've got in your toolkit to start this Also 511 00:23:16,880 --> 00:23:19,320 Speaker 4: probably a really good time just to remind everybody that 512 00:23:19,400 --> 00:23:22,400 Speaker 4: late last year I wrote another book called Investing, which 513 00:23:22,400 --> 00:23:24,280 Speaker 4: she's on the Money, and it takes you through how 514 00:23:24,280 --> 00:23:27,639 Speaker 4: to put a whole strategy together right literally, Like I 515 00:23:27,760 --> 00:23:30,720 Speaker 4: can't tell you how to invest individually because that would 516 00:23:30,720 --> 00:23:33,760 Speaker 4: be unethical from my point of view but also illegal. 517 00:23:34,000 --> 00:23:36,439 Speaker 4: But what I can do is take you down a 518 00:23:36,640 --> 00:23:40,640 Speaker 4: very beautiful garden path that is mint green and gold, 519 00:23:40,840 --> 00:23:42,800 Speaker 4: and it can take you through every step of the 520 00:23:42,840 --> 00:23:46,199 Speaker 4: way so you can create your own investment plan. But 521 00:23:46,480 --> 00:23:48,919 Speaker 4: looking at the different platforms that you want to invest 522 00:23:48,960 --> 00:23:51,840 Speaker 4: in is really going to start narrowing down what we 523 00:23:51,880 --> 00:23:54,439 Speaker 4: are going to invest in. So are you looking at 524 00:23:54,480 --> 00:23:57,439 Speaker 4: a micro investing platform? If so, there are a few, 525 00:23:57,760 --> 00:23:59,640 Speaker 4: Like there's not many options, but there are a few 526 00:23:59,680 --> 00:24:02,080 Speaker 4: options here in Australia that you could choose from. 527 00:24:02,280 --> 00:24:03,480 Speaker 1: So if that's the route. 528 00:24:03,280 --> 00:24:06,399 Speaker 4: You're going down, maybe wipe everything else off the table 529 00:24:06,440 --> 00:24:09,399 Speaker 4: and just look at the differences between those two or 530 00:24:09,400 --> 00:24:13,080 Speaker 4: three platforms, because it's going to stop you having overload. 531 00:24:13,400 --> 00:24:15,320 Speaker 4: It's going to stop you from being like, oh my gosh, 532 00:24:15,480 --> 00:24:17,520 Speaker 4: this is just so overwhelming, I don't even know where 533 00:24:17,520 --> 00:24:17,960 Speaker 4: to start. 534 00:24:18,520 --> 00:24:19,040 Speaker 1: If it's not. 535 00:24:19,080 --> 00:24:22,720 Speaker 4: Microinvesting, then maybe you want to go with a DIY platform, 536 00:24:22,840 --> 00:24:25,040 Speaker 4: in which case you need to start looking at what 537 00:24:25,080 --> 00:24:27,119 Speaker 4: features and benefits do I want to have? Do I 538 00:24:27,160 --> 00:24:29,119 Speaker 4: want to really sexy app or do I want to 539 00:24:29,119 --> 00:24:32,000 Speaker 4: be sent heaps and heaps of research on a daily 540 00:24:32,040 --> 00:24:35,000 Speaker 4: basis to make a decision. Is my plan to buy 541 00:24:35,160 --> 00:24:38,000 Speaker 4: ETFs or exchange traded funds, or am I going to 542 00:24:38,000 --> 00:24:41,000 Speaker 4: be a direct equities kind of gal and go and 543 00:24:41,080 --> 00:24:44,440 Speaker 4: trade stocks individually on the US Stock Exchange, in which 544 00:24:44,520 --> 00:24:47,040 Speaker 4: case you need to make sure that the platform or 545 00:24:47,040 --> 00:24:50,119 Speaker 4: the DIY platform that you're picking actually allows you to 546 00:24:50,200 --> 00:24:53,879 Speaker 4: do that. Because not all DIY platforms are created the same. 547 00:24:54,119 --> 00:24:56,320 Speaker 4: It doesn't mean they're good or bad. It's just about 548 00:24:56,359 --> 00:24:59,280 Speaker 4: accessibility and the thing I would say about DIY is 549 00:24:59,320 --> 00:25:02,920 Speaker 4: it can be really overwhelming. But yeses in my book 550 00:25:03,080 --> 00:25:06,160 Speaker 4: that I wrote, I'm quite biased. Even if you don't 551 00:25:06,160 --> 00:25:09,159 Speaker 4: buy it, just pop into kmart, guys, open to this page, 552 00:25:09,280 --> 00:25:12,040 Speaker 4: have a little read and see what it means for you. 553 00:25:12,400 --> 00:25:16,159 Speaker 4: But I did an entire comparison table of all of 554 00:25:16,200 --> 00:25:22,119 Speaker 4: the platforms from Microinvesting, DIY, robo Advice. They're all in 555 00:25:22,160 --> 00:25:24,760 Speaker 4: a table so you can immediately see the features and 556 00:25:24,800 --> 00:25:27,800 Speaker 4: benefits and the costs and what accessibility they have and 557 00:25:27,920 --> 00:25:30,200 Speaker 4: what they don't have access to, so you can go, oh, 558 00:25:30,359 --> 00:25:34,040 Speaker 4: that's how that's in Because, for example, some people in 559 00:25:34,080 --> 00:25:37,280 Speaker 4: our community adore trading with self Wealth, and they're a 560 00:25:37,280 --> 00:25:40,359 Speaker 4: really solid platform. They've been around for years. They have 561 00:25:40,520 --> 00:25:44,240 Speaker 4: a lot more research on their platform than most platforms 562 00:25:44,280 --> 00:25:46,960 Speaker 4: do because they're a little bit more technical, Like the 563 00:25:47,040 --> 00:25:49,639 Speaker 4: dashboard when you log in is a lot more technical, 564 00:25:49,920 --> 00:25:52,640 Speaker 4: not in a we can't understand it way, we absolutely can, 565 00:25:53,000 --> 00:25:55,960 Speaker 4: but it's less flashy, if that makes sense. But the 566 00:25:56,040 --> 00:25:58,560 Speaker 4: thing about that is they do have a minimum trade, 567 00:25:58,800 --> 00:26:00,960 Speaker 4: so you have to have five hundred to start with, 568 00:26:01,200 --> 00:26:03,720 Speaker 4: whereas if you compare it to a share esse, they've 569 00:26:03,720 --> 00:26:06,640 Speaker 4: got less research. They still have research. They have really 570 00:26:06,640 --> 00:26:09,840 Speaker 4: great researchers, just not nearly as comprehensive, and some people 571 00:26:09,840 --> 00:26:12,760 Speaker 4: don't want to read white papers, you know, but their 572 00:26:12,800 --> 00:26:16,399 Speaker 4: accessibility is one cent, so you can literally invest for 573 00:26:16,480 --> 00:26:18,840 Speaker 4: one cent on that platform. So if you're like, oh, 574 00:26:18,960 --> 00:26:21,200 Speaker 4: v I was planning on starting, you know, direct shares 575 00:26:21,240 --> 00:26:24,080 Speaker 4: with fifty bucks, great, Well maybe you wouldn't look at 576 00:26:24,119 --> 00:26:26,760 Speaker 4: self wealth because that's not an option. It's not about 577 00:26:26,800 --> 00:26:28,520 Speaker 4: what you like and what you don't like, and about 578 00:26:28,560 --> 00:26:31,960 Speaker 4: financial advice. It's actually more about what can I use 579 00:26:32,000 --> 00:26:35,000 Speaker 4: in my circumstances and what a lines to the goals 580 00:26:35,000 --> 00:26:38,200 Speaker 4: that I'm trying to achieve. So researching your investment options 581 00:26:38,240 --> 00:26:40,680 Speaker 4: is really important. Then we've obviously got no won't harp 582 00:26:40,720 --> 00:26:42,560 Speaker 4: on about it because I know that this episode is 583 00:26:42,600 --> 00:26:45,320 Speaker 4: getting a little bit lengthy. But then you've got robo 584 00:26:45,400 --> 00:26:48,320 Speaker 4: advice or direct financial advice and that episode will cover 585 00:26:48,400 --> 00:26:50,520 Speaker 4: it all for you. Yeah, it's a really good time 586 00:26:50,560 --> 00:26:52,919 Speaker 4: as well to be jumping on websites if you are 587 00:26:53,000 --> 00:26:55,320 Speaker 4: choosing between different platforms, because, like you said before, a 588 00:26:55,320 --> 00:26:58,040 Speaker 4: lot of places offer like new year deals or sign 589 00:26:58,119 --> 00:27:01,119 Speaker 4: up bonuses and things like that, so definitely shop around. 590 00:27:01,200 --> 00:27:02,919 Speaker 4: Use that table in the book to kind of give 591 00:27:02,960 --> 00:27:05,000 Speaker 4: you an idea of what features you really like, and 592 00:27:05,040 --> 00:27:06,920 Speaker 4: then jump on the websites because you never know what 593 00:27:07,040 --> 00:27:09,600 Speaker 4: things people might be offering. And obviously, you know, the 594 00:27:09,640 --> 00:27:11,960 Speaker 4: books go to print and then people change things and. 595 00:27:12,119 --> 00:27:12,639 Speaker 1: The whole thing. 596 00:27:12,760 --> 00:27:14,639 Speaker 4: Yeah, that was actually one thing I was about to 597 00:27:14,680 --> 00:27:17,159 Speaker 4: say is like I tried so hard for that to 598 00:27:17,200 --> 00:27:20,200 Speaker 4: be super factually accurate, But like, what if phrase changed 599 00:27:20,240 --> 00:27:22,680 Speaker 4: their face and it's a new year, so there might 600 00:27:22,720 --> 00:27:25,520 Speaker 4: be different sign up bonuses or different features and benefits 601 00:27:25,560 --> 00:27:28,240 Speaker 4: available that weren't available when I wrote the book. So 602 00:27:28,280 --> 00:27:29,880 Speaker 4: if you look at one and you're like, I think 603 00:27:29,920 --> 00:27:32,800 Speaker 4: that's the option for me, please just jump on their 604 00:27:32,800 --> 00:27:35,320 Speaker 4: website and cross check the information to make sure that 605 00:27:35,400 --> 00:27:38,080 Speaker 4: it's still aligned to what you think you're getting, because 606 00:27:38,080 --> 00:27:39,600 Speaker 4: I would hate for you to sign up to something 607 00:27:39,640 --> 00:27:40,800 Speaker 4: and then be like, oh shit, like. 608 00:27:40,760 --> 00:27:41,359 Speaker 1: They changed that. 609 00:27:41,720 --> 00:27:44,800 Speaker 4: Yeah, no, Due diligence always always wear such big fans 610 00:27:44,800 --> 00:27:47,440 Speaker 4: of that. Okay, so we've done our finance order, We've 611 00:27:47,440 --> 00:27:49,480 Speaker 4: got our budget and cash flow all set up, we've 612 00:27:49,480 --> 00:27:51,240 Speaker 4: set our goals, we know where we want our money 613 00:27:51,280 --> 00:27:53,440 Speaker 4: to go. We figured out our risk profile, and we've 614 00:27:53,480 --> 00:27:55,800 Speaker 4: explored all of our different investment options, and we've got 615 00:27:55,800 --> 00:27:58,159 Speaker 4: a pretty good idea of what we think might align 616 00:27:58,200 --> 00:27:59,399 Speaker 4: well to us and our values. 617 00:27:59,480 --> 00:28:03,600 Speaker 1: Queen, Bye, we behavior what now? All right? So this 618 00:28:03,760 --> 00:28:04,840 Speaker 1: is the one that. 619 00:28:04,760 --> 00:28:07,760 Speaker 4: I think most people struggle with, and that's actually taking 620 00:28:07,800 --> 00:28:10,760 Speaker 4: the step. So I know that there is going to 621 00:28:10,800 --> 00:28:13,440 Speaker 4: be a handful of you who are listening who are 622 00:28:13,480 --> 00:28:16,159 Speaker 4: just so excited to invest. Maybe you've been listening to 623 00:28:16,200 --> 00:28:19,000 Speaker 4: Shees on the Money this entire time, Maybe you have 624 00:28:19,480 --> 00:28:22,119 Speaker 4: done all the research, maybe you've put together a spreadsheet 625 00:28:22,160 --> 00:28:24,840 Speaker 4: and actually like analyzed it all yourself, but you haven't 626 00:28:24,840 --> 00:28:28,560 Speaker 4: invested yet. This is the reminder to take the next step. 627 00:28:28,880 --> 00:28:32,040 Speaker 4: I promise it is not as hard as you think 628 00:28:32,080 --> 00:28:36,640 Speaker 4: it is. Women, especially get analysis paralysis where there are 629 00:28:36,640 --> 00:28:39,080 Speaker 4: too many options on the table, or we get information 630 00:28:39,240 --> 00:28:42,800 Speaker 4: overload and we just feel so overwhelmed that we don't 631 00:28:42,840 --> 00:28:45,800 Speaker 4: make a decision. So I think now is a good 632 00:28:45,880 --> 00:28:49,200 Speaker 4: reminder to say, Look, not making a decision or not 633 00:28:49,280 --> 00:28:51,720 Speaker 4: investing is still a choice. I know that you're like, oh, 634 00:28:51,760 --> 00:28:53,960 Speaker 4: I just haven't decided to do it yet. I totally 635 00:28:54,000 --> 00:28:56,640 Speaker 4: get that. But if this is a goal of yours 636 00:28:56,680 --> 00:28:59,280 Speaker 4: and something that you really want to achieve, now is 637 00:28:59,320 --> 00:29:01,720 Speaker 4: the time to take the first step. You do not 638 00:29:02,120 --> 00:29:04,480 Speaker 4: have to start at the very top. You do not 639 00:29:04,640 --> 00:29:07,360 Speaker 4: have to invest your life savings. You do not even 640 00:29:07,440 --> 00:29:10,360 Speaker 4: have to invest five hundred dollars to start. But what 641 00:29:10,400 --> 00:29:12,360 Speaker 4: you do need to do is if this is a 642 00:29:12,400 --> 00:29:14,440 Speaker 4: plan for you, and this is something that you want 643 00:29:14,480 --> 00:29:16,920 Speaker 4: to achieve, and you just can't put yourself in a 644 00:29:16,920 --> 00:29:18,520 Speaker 4: position where you're like, oh my gosh, I just feel 645 00:29:18,520 --> 00:29:19,880 Speaker 4: like I keep putting it off, or I don't know 646 00:29:19,880 --> 00:29:22,240 Speaker 4: what platform to go with. What if it's not the 647 00:29:22,320 --> 00:29:26,840 Speaker 4: right platform, Jess Like, it's fine to change, Yeah, Like 648 00:29:26,920 --> 00:29:28,720 Speaker 4: it's fine to have a play on one and be like, 649 00:29:28,720 --> 00:29:31,400 Speaker 4: oh I don't really like this and move to another. 650 00:29:31,840 --> 00:29:33,479 Speaker 1: Because let's see those fees. 651 00:29:33,520 --> 00:29:36,200 Speaker 4: As much as some people might go, oh, don't dabble 652 00:29:36,240 --> 00:29:38,720 Speaker 4: around in lots of different platforms. You waste your money, 653 00:29:38,720 --> 00:29:41,000 Speaker 4: you lose some fees. Yes, that's not a good idea. 654 00:29:41,680 --> 00:29:44,239 Speaker 4: What if that's an investment in your financial education and 655 00:29:44,320 --> 00:29:47,160 Speaker 4: that's the money that actually got you started investing. What 656 00:29:47,240 --> 00:29:49,520 Speaker 4: if you know, the trading fee of two dollars fifty 657 00:29:49,560 --> 00:29:52,800 Speaker 4: a month actually was an investment in your financial education. 658 00:29:53,520 --> 00:29:55,600 Speaker 4: Just what's the worst that could happen? You lose the 659 00:29:55,640 --> 00:29:59,360 Speaker 4: ten dollars that you invested, like it's not actually a 660 00:29:59,400 --> 00:30:02,000 Speaker 4: bad thing. I think that we need to take the 661 00:30:02,040 --> 00:30:05,200 Speaker 4: next step and start giving ourselves exposure to the share market, 662 00:30:05,440 --> 00:30:07,960 Speaker 4: because that's the only way we are going to learn. 663 00:30:08,320 --> 00:30:10,200 Speaker 4: I was talking to a couple of friends, and I 664 00:30:10,240 --> 00:30:12,680 Speaker 4: think I've said this on the podcast before, but my 665 00:30:12,840 --> 00:30:17,160 Speaker 4: job when I was a financial advisor was actually quite technical, right, 666 00:30:17,320 --> 00:30:19,080 Speaker 4: Like I had to know everything. I had to have 667 00:30:19,080 --> 00:30:21,600 Speaker 4: a degree, I had to be quite qualified to do 668 00:30:21,680 --> 00:30:24,840 Speaker 4: that role. I had to pass the Foresea exam. But 669 00:30:25,080 --> 00:30:28,840 Speaker 4: my knowledge really came on the job, Like it came 670 00:30:28,840 --> 00:30:31,040 Speaker 4: from being in the markets every day. It came from 671 00:30:31,080 --> 00:30:34,080 Speaker 4: the conversations with the stockbrokers that I would talk to 672 00:30:34,160 --> 00:30:37,120 Speaker 4: on a regular basis. It came from the financial advisors 673 00:30:37,160 --> 00:30:39,840 Speaker 4: around me. It came from my friends that I made 674 00:30:39,840 --> 00:30:41,760 Speaker 4: in the industry. He'd be like, Oh did you see this? 675 00:30:41,920 --> 00:30:42,440 Speaker 1: What about this? 676 00:30:42,600 --> 00:30:46,479 Speaker 4: Soa like it came from experience, and I think that 677 00:30:46,520 --> 00:30:48,000 Speaker 4: we need to give ourselves. 678 00:30:47,680 --> 00:30:49,280 Speaker 1: The gift of experience now. 679 00:30:49,480 --> 00:30:52,600 Speaker 4: And I've had so many people message me recently being like, Oh, 680 00:30:52,600 --> 00:30:54,320 Speaker 4: I just can't seem to take the next step. 681 00:30:54,400 --> 00:30:55,520 Speaker 1: VI, what do I do? 682 00:30:56,360 --> 00:30:58,320 Speaker 4: I'm just I don't know what to say to you, 683 00:30:58,360 --> 00:31:03,120 Speaker 4: because it's just start. But stop being so overwhelming on yourself. 684 00:31:03,200 --> 00:31:05,360 Speaker 4: Stop putting yourself in a position where you think that 685 00:31:05,440 --> 00:31:08,400 Speaker 4: you need to be all end all and absolutely go 686 00:31:08,520 --> 00:31:11,800 Speaker 4: the whole hog because you don't. Just take one step 687 00:31:11,840 --> 00:31:14,560 Speaker 4: in the right direction, and I promise it'll start snowballing 688 00:31:14,600 --> 00:31:17,120 Speaker 4: from there. Oh my gosh, what a perfect place to 689 00:31:17,200 --> 00:31:19,120 Speaker 4: leave it. And if you are feeling overwhelmed, don't forget. 690 00:31:19,120 --> 00:31:22,840 Speaker 4: We have an entire back catalog of investing specific content. 691 00:31:22,920 --> 00:31:25,720 Speaker 4: We did an entire investing episode every single month the 692 00:31:25,840 --> 00:31:28,520 Speaker 4: entire year of twenty twenty two, which is pretty huge 693 00:31:28,560 --> 00:31:31,160 Speaker 4: if you ask me, So definitely go back. There's a 694 00:31:31,200 --> 00:31:33,880 Speaker 4: lot of information there, and there's heaps as well in 695 00:31:33,960 --> 00:31:37,400 Speaker 4: your second book, Investing with Shees on the Money. Genius says, 696 00:31:37,520 --> 00:31:39,320 Speaker 4: all right, well we you have to go grab a 697 00:31:39,360 --> 00:31:44,120 Speaker 4: coffee because I am exhausted after essentially word vomiting everywhere. 698 00:31:44,400 --> 00:31:46,880 Speaker 4: I was just too excited. So thank you for allowing 699 00:31:46,920 --> 00:31:49,520 Speaker 4: me the space to do that. New Year, New Me vibes. 700 00:31:49,560 --> 00:31:50,720 Speaker 1: I feel happy New Year. 701 00:31:56,800 --> 00:31:59,320 Speaker 4: The advice shared on Shees on the Money is general 702 00:31:59,400 --> 00:32:03,240 Speaker 4: in nature and does not consider your individual circumstances. She's 703 00:32:03,280 --> 00:32:06,760 Speaker 4: on the Money exists purely for educational purposes and should 704 00:32:06,800 --> 00:32:09,960 Speaker 4: not be relied upon to make an investment or financial decision. 705 00:32:10,360 --> 00:32:12,960 Speaker 1: If you do choose to buy a financial product. 706 00:32:12,600 --> 00:32:16,600 Speaker 4: Read the PDS TMD and obtain appropriate financial advice tailored 707 00:32:16,640 --> 00:32:20,080 Speaker 4: towards your needs. Victoria Divine and She's on the Money 708 00:32:20,120 --> 00:32:25,080 Speaker 4: are authorized representatives of money SHERPA, pty Ltd ABN three 709 00:32:25,120 --> 00:32:28,360 Speaker 4: two one six four nine two seven seven zero eight 710 00:32:28,640 --> 00:32:33,680 Speaker 4: AFSL four five one two eight nine