1
00:00:00,680 --> 00:00:04,880
Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yor

2
00:00:04,960 --> 00:00:08,639
Speaker 1: the Order KERNI Whoalbury and a waddery woman. And before

3
00:00:08,680 --> 00:00:11,160
Speaker 1: we get started on She's on the Money podcast, I

4
00:00:11,160 --> 00:00:14,319
Speaker 1: would like to acknowledge the traditional custodians of the land

5
00:00:14,400 --> 00:00:17,680
Speaker 1: of which this podcast is recorded on a wondery country,

6
00:00:18,120 --> 00:00:22,240
Speaker 1: acknowledging the elders, the ancestors and the next generation coming

7
00:00:22,320 --> 00:00:26,960
Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing

8
00:00:27,080 --> 00:00:30,120
Speaker 1: and the storytelling of you to make a difference for

9
00:00:30,240 --> 00:00:33,080
Speaker 1: today and lasting impact for tomorrow.

10
00:00:33,320 --> 00:00:34,200
Speaker 2: Let's get into it.

11
00:00:34,360 --> 00:00:53,640
Speaker 3: She's on the Money. She's on the Money.

12
00:00:57,280 --> 00:00:59,720
Speaker 4: Hello, and welcome to She's on the Money, the podcast

13
00:00:59,720 --> 00:01:02,360
Speaker 4: that's usually all about helping you master your money. But

14
00:01:02,400 --> 00:01:05,000
Speaker 4: today it's not just a podcast. It's a game show.

15
00:01:05,080 --> 00:01:05,959
Speaker 2: It's a game show.

16
00:01:06,360 --> 00:01:07,880
Speaker 4: I don't know how this is going to go, but

17
00:01:07,920 --> 00:01:10,160
Speaker 4: I'm actually really excited about it. Buckle up because this

18
00:01:10,200 --> 00:01:14,320
Speaker 4: isn't ask V anything show. I'm your host, becksied and

19
00:01:14,319 --> 00:01:18,440
Speaker 4: with me scared, I think you should be at all times.

20
00:01:18,560 --> 00:01:21,080
Speaker 2: Yeah, okay, be prepared. I was a scout, so.

21
00:01:21,720 --> 00:01:27,240
Speaker 4: Scouts always be terrified and worried, so today, our brave contestant,

22
00:01:27,840 --> 00:01:30,040
Speaker 4: May I please welcome to the stage, Victoria Device.

23
00:01:30,080 --> 00:01:32,559
Speaker 2: Oh, thank you for having me on this game show

24
00:01:32,600 --> 00:01:34,320
Speaker 2: that I didn't know was going to be a game show.

25
00:01:34,360 --> 00:01:35,839
Speaker 2: I thought it was going to be a podcast.

26
00:01:35,880 --> 00:01:36,800
Speaker 4: Thank you for joining me.

27
00:01:37,000 --> 00:01:38,959
Speaker 2: Oh, thank you for having me. I'm ready.

28
00:01:39,160 --> 00:01:40,840
Speaker 4: I'm sorry for just throwing this on you.

29
00:01:40,880 --> 00:01:43,319
Speaker 2: No, absolutely, let's go. I love a good game show.

30
00:01:43,360 --> 00:01:45,319
Speaker 2: What are we playing? And how much money do I

31
00:01:45,360 --> 00:01:45,840
Speaker 2: get to win?

32
00:01:46,400 --> 00:01:49,880
Speaker 4: I tell you what you get to win? Exactly zero dollars?

33
00:01:49,920 --> 00:01:52,920
Speaker 4: But Ris, can you double it? I'll have to ask

34
00:01:52,920 --> 00:01:53,480
Speaker 4: my producer.

35
00:01:53,560 --> 00:01:56,200
Speaker 2: Okay, all right, Sorry, you're asking for a lot. I know,

36
00:01:56,520 --> 00:01:57,960
Speaker 2: I know I've started yet.

37
00:01:58,680 --> 00:02:01,480
Speaker 4: Okay, so this game is all about taking on the biggest, juiciest,

38
00:02:01,520 --> 00:02:04,640
Speaker 4: trickiest money questions sent in by our amazing listeners. Do

39
00:02:04,640 --> 00:02:05,360
Speaker 4: you think you're up for it?

40
00:02:05,680 --> 00:02:07,000
Speaker 2: No? But also, let's go.

41
00:02:07,480 --> 00:02:08,680
Speaker 4: I also have a few of my own.

42
00:02:08,720 --> 00:02:11,480
Speaker 2: But okay, anyone, No, you can ask me anything.

43
00:02:11,520 --> 00:02:14,839
Speaker 4: Apparently I was open to this amazing Okay, so let's

44
00:02:14,919 --> 00:02:18,320
Speaker 4: jump straight into round one with our first question. So hypothetically,

45
00:02:18,320 --> 00:02:20,000
Speaker 4: I'm twenty seven. Mentally I think.

46
00:02:19,919 --> 00:02:21,079
Speaker 2: It'd be nice, wouldn't it.

47
00:02:21,240 --> 00:02:22,440
Speaker 4: I've got one hundred k saved.

48
00:02:22,680 --> 00:02:24,840
Speaker 2: Okay, yeah, that is very hypothetical.

49
00:02:25,040 --> 00:02:28,240
Speaker 4: That is very hypothetical. I don'nate a property. Should I

50
00:02:28,240 --> 00:02:31,400
Speaker 4: be investing in real estate or elsewhere? And at the

51
00:02:31,440 --> 00:02:34,639
Speaker 4: same time, someone else wanted to know the potential pros

52
00:02:34,680 --> 00:02:37,359
Speaker 4: and cons of buying a property versus using that fund

53
00:02:37,639 --> 00:02:40,400
Speaker 4: for the share market. So should we tackle them together?

54
00:02:40,639 --> 00:02:40,880
Speaker 1: Yeah?

55
00:02:40,919 --> 00:02:43,600
Speaker 2: Absolutely. I was really scared when you said it's an

56
00:02:43,639 --> 00:02:45,680
Speaker 2: ask anything and I've gone row and I was like,

57
00:02:45,720 --> 00:02:47,880
Speaker 2: oh no, but now you're asking me about my bread

58
00:02:47,880 --> 00:02:48,840
Speaker 2: and butter. So we're ready.

59
00:02:48,880 --> 00:02:49,320
Speaker 4: So come back.

60
00:02:49,400 --> 00:02:51,440
Speaker 2: You have one hundred thousand dollars saved and you're not

61
00:02:51,480 --> 00:02:54,320
Speaker 2: sure where to invest it. I think you need to

62
00:02:54,480 --> 00:02:57,440
Speaker 2: zoom out and have a think about what your values are, Like,

63
00:02:57,639 --> 00:02:59,920
Speaker 2: is property actually something you want to be investing in,

64
00:03:00,040 --> 00:03:02,079
Speaker 2: because it's a really big commitment. So you're going to

65
00:03:02,120 --> 00:03:04,959
Speaker 2: buy property, there's going to be probably some stamp duty,

66
00:03:05,040 --> 00:03:08,000
Speaker 2: some other fees and charges. Like there's a lack of

67
00:03:08,240 --> 00:03:10,440
Speaker 2: flexibility there. I mean, I'm not selling it. I own

68
00:03:10,440 --> 00:03:13,000
Speaker 2: a mortgage broken company, beck, so like I should be like, yeah,

69
00:03:13,080 --> 00:03:14,760
Speaker 2: what you want to do? Go talk to a Zella

70
00:03:14,800 --> 00:03:17,399
Speaker 2: money broker. But I think it is such a big

71
00:03:17,440 --> 00:03:19,960
Speaker 2: commitment beck that I feel like you've got to know

72
00:03:20,080 --> 00:03:22,080
Speaker 2: that you really want it before you get into it,

73
00:03:22,160 --> 00:03:24,560
Speaker 2: because if you want to then get your money back,

74
00:03:25,080 --> 00:03:27,920
Speaker 2: it's a hassle to get it back out. If we're

75
00:03:27,919 --> 00:03:30,160
Speaker 2: comparing apples with apples, and you want to look at

76
00:03:30,160 --> 00:03:33,920
Speaker 2: the investment market versus property in Australia, we know that

77
00:03:34,000 --> 00:03:38,760
Speaker 2: the share market performs on average higher than the property market.

78
00:03:38,840 --> 00:03:41,240
Speaker 2: But in saying that, if you're not passionate about the

79
00:03:41,280 --> 00:03:43,680
Speaker 2: share market, why are you investing in it? Like if

80
00:03:43,720 --> 00:03:45,960
Speaker 2: that's something that you're like, oh, I can't be bothered,

81
00:03:46,000 --> 00:03:48,840
Speaker 2: but the fire in my belly is lit because of property,

82
00:03:49,280 --> 00:03:51,760
Speaker 2: Like you're going to allocate more funds towards it, Like

83
00:03:51,800 --> 00:03:54,480
Speaker 2: we spend money on the things that are of value

84
00:03:54,520 --> 00:03:58,040
Speaker 2: to us. So it's not about which returns more. It's

85
00:03:58,080 --> 00:04:00,720
Speaker 2: actually about what aligns your values, what you want to do.

86
00:04:00,800 --> 00:04:03,600
Speaker 2: And I cannot tell you how to invest your hundred

87
00:04:03,680 --> 00:04:07,240
Speaker 2: thousand dollars, but I think it's important to talk about

88
00:04:07,280 --> 00:04:11,000
Speaker 2: they are two different asset classes and over your lifetime

89
00:04:11,080 --> 00:04:13,120
Speaker 2: you're probably gonna want to have a bit of both.

90
00:04:13,680 --> 00:04:15,760
Speaker 2: So if you've got one hundred grand, is it for

91
00:04:15,800 --> 00:04:20,719
Speaker 2: a home deposit. Is it for share market up to you? Okay,

92
00:04:21,040 --> 00:04:24,039
Speaker 2: that was really diplomatic, I suppose, But I can't give

93
00:04:24,080 --> 00:04:26,080
Speaker 2: that advice totally legally.

94
00:04:26,960 --> 00:04:28,520
Speaker 4: Probably need to like look at the person.

95
00:04:28,600 --> 00:04:30,920
Speaker 2: What I can tell you? Yeah, tell me don't invest

96
00:04:30,960 --> 00:04:32,600
Speaker 2: it in a multi level marketing business.

97
00:04:32,839 --> 00:04:33,800
Speaker 4: Oh great advice.

98
00:04:33,880 --> 00:04:37,120
Speaker 2: Yes, yeah, okay, I can definitively say that that is

99
00:04:37,160 --> 00:04:39,760
Speaker 2: a terrible idea across that off. Finally you're welcome.

100
00:04:40,120 --> 00:04:42,480
Speaker 4: Okay, the next one. I actually always wondered about this too.

101
00:04:42,880 --> 00:04:46,719
Speaker 4: So if multiple brokers offer a zero dollar initial fee

102
00:04:48,240 --> 00:04:49,960
Speaker 4: in using multiple brokers.

103
00:04:49,920 --> 00:04:52,279
Speaker 2: Do you know how many credit checks you're going to

104
00:04:52,360 --> 00:04:52,760
Speaker 2: rack up?

105
00:04:53,839 --> 00:04:56,640
Speaker 4: Of course I don't like that.

106
00:04:57,000 --> 00:04:59,960
Speaker 2: No neither. I don't like that credit checks on your

107
00:05:00,080 --> 00:05:03,160
Speaker 2: account decrease your credit score over time, so we want

108
00:05:03,160 --> 00:05:06,559
Speaker 2: to minimize those. But on top of that, let's say

109
00:05:06,800 --> 00:05:08,799
Speaker 2: you want to go get a home loan with Bank

110
00:05:08,839 --> 00:05:11,360
Speaker 2: B and you're like, all right, Bank B, I really

111
00:05:11,400 --> 00:05:13,719
Speaker 2: want to go and get a five hundred thousand dollars

112
00:05:13,720 --> 00:05:16,200
Speaker 2: home loan. Then you have another broker working on that.

113
00:05:16,839 --> 00:05:20,280
Speaker 2: It actually is submitted under you, Beck, so you are

114
00:05:20,320 --> 00:05:24,640
Speaker 2: like personally identifiable. Another broker can't submit another deal to

115
00:05:24,680 --> 00:05:28,359
Speaker 2: the same bank. Without intercepting that and ruining your chances,

116
00:05:28,720 --> 00:05:31,120
Speaker 2: you're probably going to end up with a decline. I see.

117
00:05:31,120 --> 00:05:34,520
Speaker 2: It becomes an admin nightmare for that bank and they

118
00:05:34,560 --> 00:05:38,760
Speaker 2: don't like it. Also, a mortgage broker gets paid by

119
00:05:38,760 --> 00:05:41,640
Speaker 2: the bank. So this is my business Zeller money and

120
00:05:41,680 --> 00:05:45,000
Speaker 2: that's why I can offer services to our clients for free,

121
00:05:45,040 --> 00:05:47,680
Speaker 2: which is the biggest money when ever, because we get

122
00:05:47,720 --> 00:05:50,800
Speaker 2: paid by the bank when your property settles. It is

123
00:05:51,120 --> 00:05:53,560
Speaker 2: so much work like we have a big team at

124
00:05:53,640 --> 00:05:56,320
Speaker 2: Zella because not only are you talking to a broker,

125
00:05:56,360 --> 00:05:58,800
Speaker 2: but you're talking to their CRM. You're then talking to

126
00:05:58,839 --> 00:06:01,039
Speaker 2: our admin team in the backround. You then go into

127
00:06:01,080 --> 00:06:03,640
Speaker 2: a settlements officer who's going to make sure that your

128
00:06:03,680 --> 00:06:07,279
Speaker 2: process is as smooth as possible and that all the

129
00:06:07,320 --> 00:06:10,400
Speaker 2: eyes are dotted and all the tea's across. We LaaS

130
00:06:10,640 --> 00:06:13,159
Speaker 2: directly with your conveyancer to make sure that they're doing

131
00:06:13,200 --> 00:06:15,520
Speaker 2: their job. But you're in the best possible position. We

132
00:06:15,760 --> 00:06:18,440
Speaker 2: are answering all your questions along the way and making

133
00:06:18,440 --> 00:06:22,000
Speaker 2: sure that you are feeling supported my brokers. Not that

134
00:06:22,040 --> 00:06:24,160
Speaker 2: you should be calling your brokers after hours, but they

135
00:06:24,240 --> 00:06:26,280
Speaker 2: answer the phone on the weekends. They answer the phone

136
00:06:26,279 --> 00:06:28,840
Speaker 2: after hours. They do not want our clients to be stressed.

137
00:06:29,360 --> 00:06:31,880
Speaker 2: That is a lot of time, energy and effort to

138
00:06:32,080 --> 00:06:35,400
Speaker 2: be put in for something that then ultimately doesn't convert

139
00:06:35,400 --> 00:06:38,719
Speaker 2: because you were playing the game. I see, like, I

140
00:06:38,800 --> 00:06:41,159
Speaker 2: don't think it is fair. I do think that if

141
00:06:41,200 --> 00:06:44,919
Speaker 2: you're on the fence, have an initial meeting with a broker, absolutely,

142
00:06:45,360 --> 00:06:47,840
Speaker 2: but at the end of the day, work with someone

143
00:06:47,920 --> 00:06:50,479
Speaker 2: that you resonate with, because if there is a right

144
00:06:50,520 --> 00:06:53,560
Speaker 2: answer for your situation, both brokers should come to the

145
00:06:53,560 --> 00:06:57,320
Speaker 2: same conclusion. Beck true, they should be, you know, analyzing

146
00:06:57,360 --> 00:06:59,400
Speaker 2: it in a certain way and probably be putting the

147
00:06:59,400 --> 00:07:01,720
Speaker 2: same bank forward. But it takes us a lot of work.

148
00:07:01,760 --> 00:07:03,640
Speaker 2: It's not just like a quick half an hour meeting

149
00:07:03,640 --> 00:07:05,880
Speaker 2: with a broker. Like in the background, we are doing

150
00:07:06,000 --> 00:07:09,040
Speaker 2: so much work, so much research to make sure that

151
00:07:09,080 --> 00:07:11,680
Speaker 2: you are in the best possible position. If you're doing

152
00:07:11,680 --> 00:07:13,800
Speaker 2: that to multiple people, you're wasting their time and that

153
00:07:13,960 --> 00:07:14,559
Speaker 2: is not cool.

154
00:07:14,760 --> 00:07:16,680
Speaker 4: That's so true. I did notice that when my partner

155
00:07:16,720 --> 00:07:19,520
Speaker 4: was buying a property, she was messaging them on Sunday,

156
00:07:19,520 --> 00:07:20,760
Speaker 4: and I was like, are you allowed to do that?

157
00:07:21,400 --> 00:07:24,960
Speaker 2: I know that you should obviously respect business hours and

158
00:07:25,000 --> 00:07:26,920
Speaker 2: all of that, but like, if you're stressed and want

159
00:07:26,920 --> 00:07:28,800
Speaker 2: that support, I want to hold your hand and make

160
00:07:28,840 --> 00:07:31,280
Speaker 2: sure that you're in the best possible position. And I

161
00:07:31,280 --> 00:07:33,360
Speaker 2: don't want my clients being stressed because they're like, oh

162
00:07:33,360 --> 00:07:35,320
Speaker 2: my god, are we okay for settlement? Yeah, girl, of

163
00:07:35,360 --> 00:07:37,600
Speaker 2: course we are. Like if that's all it takes out

164
00:07:37,640 --> 00:07:39,480
Speaker 2: of our day, great, exactly.

165
00:07:39,560 --> 00:07:41,320
Speaker 4: Okay, this next one's a good one for all of

166
00:07:41,400 --> 00:07:43,400
Speaker 4: us in this cozy liv crisis.

167
00:07:43,480 --> 00:07:44,080
Speaker 2: Yeah.

168
00:07:44,160 --> 00:07:47,880
Speaker 4: So, hypothetically, I'm a stay at home mum looking to

169
00:07:48,040 --> 00:07:49,720
Speaker 4: an extra income. Do you have any tips?

170
00:07:50,120 --> 00:07:51,600
Speaker 2: I do multi level marketing.

171
00:07:52,840 --> 00:07:56,040
Speaker 4: Let's take that out of context and put it on socials.

172
00:07:56,120 --> 00:07:58,840
Speaker 2: Yeah, actually, put it on a T shirt uneducated, which

173
00:07:58,880 --> 00:08:02,160
Speaker 2: is what I'm going for. So do I have some

174
00:08:02,240 --> 00:08:04,560
Speaker 2: tips and tricks? Yes. I want you to just stay

175
00:08:04,640 --> 00:08:07,400
Speaker 2: vigilant and know that if it seems too good to

176
00:08:07,440 --> 00:08:11,400
Speaker 2: be true, it probably is. There are so many opportunities

177
00:08:11,680 --> 00:08:14,080
Speaker 2: that are going to be presented to you because you

178
00:08:14,120 --> 00:08:16,480
Speaker 2: are a stay at home mum, because you are relatively

179
00:08:16,560 --> 00:08:19,320
Speaker 2: vulnerable in this situation, because like the end of the day,

180
00:08:19,400 --> 00:08:21,040
Speaker 2: you want to stay home with your kids, like, and

181
00:08:21,120 --> 00:08:23,800
Speaker 2: I get that, Like, if you've decided that you need

182
00:08:23,840 --> 00:08:26,440
Speaker 2: an extra income so that you can spend more time

183
00:08:26,480 --> 00:08:28,800
Speaker 2: with them. And someone comes along and says, hey, back,

184
00:08:29,200 --> 00:08:31,840
Speaker 2: so I've got this great business opportunity. You just sign up.

185
00:08:32,320 --> 00:08:34,480
Speaker 2: Not hard for you to do three hundred bucks. You

186
00:08:34,520 --> 00:08:37,120
Speaker 2: can make so much money on the side, and you

187
00:08:37,160 --> 00:08:38,920
Speaker 2: can take your kids to the park whenever. You can

188
00:08:38,960 --> 00:08:41,760
Speaker 2: work from wherever. Sounds great, doesn't it. But you need

189
00:08:41,800 --> 00:08:44,800
Speaker 2: to stay vigilant. I would say in terms of earning

190
00:08:44,840 --> 00:08:48,559
Speaker 2: extra income, air tasker is fantastic. Are there any tasks

191
00:08:48,640 --> 00:08:50,480
Speaker 2: that you could pick up? And do you know, if

192
00:08:50,520 --> 00:08:52,440
Speaker 2: it's a courier job, can the kids come with you?

193
00:08:52,480 --> 00:08:54,680
Speaker 2: Can you you know, do a few things here and there.

194
00:08:55,160 --> 00:08:58,920
Speaker 2: Are there any handicrafts that you can do, online surveys

195
00:08:58,960 --> 00:09:01,080
Speaker 2: that you could do. Is there a way that you

196
00:09:01,120 --> 00:09:03,880
Speaker 2: could get a work from home job, Like one of

197
00:09:03,920 --> 00:09:06,480
Speaker 2: our community members has recently gotten a job as a

198
00:09:06,520 --> 00:09:07,599
Speaker 2: medical transcriber.

199
00:09:08,080 --> 00:09:09,640
Speaker 4: I was gonna say transcribing is pretty good.

200
00:09:09,720 --> 00:09:12,200
Speaker 2: Yeah, it's pretty good, and she's earning so much money.

201
00:09:12,200 --> 00:09:14,720
Speaker 2: She's only like forty five bucks an hour or something.

202
00:09:15,000 --> 00:09:18,200
Speaker 2: It's good to transcribe medical records because they want to

203
00:09:18,240 --> 00:09:20,440
Speaker 2: keep them on file. But she's like, it doesn't matter

204
00:09:20,480 --> 00:09:22,280
Speaker 2: if I do that at nine am, or I'm doing

205
00:09:22,280 --> 00:09:23,760
Speaker 2: it at nine pm, I do it when my kid

206
00:09:23,880 --> 00:09:26,200
Speaker 2: is asleep, and they're fine with that. There are so

207
00:09:26,240 --> 00:09:30,000
Speaker 2: many options out there that don't involve you ending up

208
00:09:30,040 --> 00:09:32,640
Speaker 2: in a worse off situation. But I also need you

209
00:09:32,720 --> 00:09:35,480
Speaker 2: to know that if you're looking for a way to

210
00:09:35,559 --> 00:09:38,800
Speaker 2: earn extra income while still having that lifestyle as estate

211
00:09:38,800 --> 00:09:40,240
Speaker 2: at her mum, there is always going to be some

212
00:09:40,320 --> 00:09:43,200
Speaker 2: level of compromise, Like you can't have your cake and

213
00:09:43,240 --> 00:09:46,600
Speaker 2: eat it too. And maybe this is going to sound tough.

214
00:09:46,679 --> 00:09:48,760
Speaker 2: Maybe the realization is this is a season of life.

215
00:09:48,880 --> 00:09:51,080
Speaker 2: I'm going to earn less right now while I'm focusing

216
00:09:51,160 --> 00:09:52,679
Speaker 2: on my kids, and then once they're at school or

217
00:09:52,720 --> 00:09:54,400
Speaker 2: once they're doing this, I can go back to earning

218
00:09:54,400 --> 00:09:56,400
Speaker 2: an income. You don't actually need to do it all.

219
00:09:56,520 --> 00:09:59,240
Speaker 2: I feel like there's this boss babe mentality online of like,

220
00:09:59,360 --> 00:10:00,720
Speaker 2: if you're going to be a stay at home mum,

221
00:10:00,760 --> 00:10:02,720
Speaker 2: you also need to be working on yourself and you

222
00:10:02,760 --> 00:10:04,679
Speaker 2: also need to be having a side hustle. And if

223
00:10:04,720 --> 00:10:06,360
Speaker 2: you don't get up at five am and go to

224
00:10:06,400 --> 00:10:08,200
Speaker 2: the gym before the kids wake up, like what are

225
00:10:08,240 --> 00:10:12,880
Speaker 2: you even doing? Absolutely insane unrealistic expectations being put on parents,

226
00:10:13,240 --> 00:10:16,720
Speaker 2: Like if you want an extra income stream, great, let's

227
00:10:16,720 --> 00:10:18,760
Speaker 2: find one for you, but don't do it because you're

228
00:10:18,760 --> 00:10:21,200
Speaker 2: feeling the pressure because other people are doing it. Yeah.

229
00:10:21,240 --> 00:10:23,880
Speaker 4: One also, don't forget clinical trials.

230
00:10:23,880 --> 00:10:25,400
Speaker 2: Sometimes no clinical trials.

231
00:10:25,520 --> 00:10:27,200
Speaker 4: Clinical trials, let's take that.

232
00:10:27,320 --> 00:10:28,240
Speaker 2: You can do that one.

233
00:10:29,440 --> 00:10:31,920
Speaker 4: That one, Okay, the sext one is a good one.

234
00:10:31,960 --> 00:10:33,559
Speaker 4: I feel like I've said that four of them so far,

235
00:10:33,679 --> 00:10:36,880
Speaker 4: but they're all good. It's about those golden nuggets of wisdom,

236
00:10:36,920 --> 00:10:39,640
Speaker 4: your favorite advice from a mentor or person that you

237
00:10:39,679 --> 00:10:41,120
Speaker 4: still use to this day.

238
00:10:41,600 --> 00:10:43,640
Speaker 2: Like the advice or the person, because like I feel

239
00:10:43,640 --> 00:10:44,760
Speaker 2: like mentors come and.

240
00:10:44,720 --> 00:10:46,280
Speaker 4: Go true maybe both.

241
00:10:46,320 --> 00:10:50,680
Speaker 2: If you have favorite advice, I feel like my dad

242
00:10:51,360 --> 00:10:54,360
Speaker 2: is that lame. That's probably lame. That'squ welcome dad. So

243
00:10:54,400 --> 00:10:57,280
Speaker 2: there's probably a few pieces of advice. The first one

244
00:10:57,480 --> 00:11:06,000
Speaker 2: is honesty tempered with mercy. WHOA, So that is something

245
00:11:06,040 --> 00:11:09,400
Speaker 2: that he's always said. Just because it's true doesn't mean

246
00:11:09,400 --> 00:11:11,640
Speaker 2: you have to say it. So like you know, if

247
00:11:11,720 --> 00:11:14,439
Speaker 2: something at work is happening and you know it's not working,

248
00:11:14,559 --> 00:11:17,120
Speaker 2: like always just being like am I being kind in

249
00:11:17,160 --> 00:11:19,600
Speaker 2: this moment? Or am I just saying it because I can.

250
00:11:20,120 --> 00:11:23,680
Speaker 2: I think that's something that I've always taken, especially in

251
00:11:23,840 --> 00:11:25,880
Speaker 2: Cheese on the money, Like we have to be honest

252
00:11:25,920 --> 00:11:27,280
Speaker 2: because like, at the end of the day, I need

253
00:11:27,320 --> 00:11:29,400
Speaker 2: to put you in a best possible position. But you

254
00:11:29,559 --> 00:11:32,439
Speaker 2: don't need to crucify someone, like say you're firing someone

255
00:11:32,920 --> 00:11:35,120
Speaker 2: and they're just not the right fit. But they've also

256
00:11:35,200 --> 00:11:37,160
Speaker 2: been messing up a little bit and you've given them

257
00:11:37,200 --> 00:11:38,959
Speaker 2: a few reasons as to why you don't need to

258
00:11:39,000 --> 00:11:41,800
Speaker 2: double down and absolutely bury that person on the way out,

259
00:11:41,840 --> 00:11:43,800
Speaker 2: Like that is not what you need to do. So

260
00:11:43,920 --> 00:11:46,800
Speaker 2: like honesty because like people deserve the truth, but like

261
00:11:47,320 --> 00:11:49,720
Speaker 2: sometimes you need to temper it with mercy. I think

262
00:11:49,840 --> 00:11:52,720
Speaker 2: is really good. Yes, The second piece of advice my

263
00:11:52,840 --> 00:11:56,240
Speaker 2: dad gave me was the best number of business partners

264
00:11:56,440 --> 00:11:59,200
Speaker 2: is an odd number of less than three. And I

265
00:11:59,240 --> 00:12:02,440
Speaker 2: really wish I had listened to him at the very start,

266
00:12:02,559 --> 00:12:06,240
Speaker 2: because that essentially is him saying, don't have business partners.

267
00:12:06,800 --> 00:12:10,160
Speaker 2: That sounds savage because I have had a few of

268
00:12:10,160 --> 00:12:14,480
Speaker 2: them now, and upon reflection, I have always taken on

269
00:12:14,720 --> 00:12:17,640
Speaker 2: a business partner because I didn't have the confidence that

270
00:12:17,679 --> 00:12:20,600
Speaker 2: I could do it myself. I thought that I needed

271
00:12:20,640 --> 00:12:23,520
Speaker 2: somebody else's support to be successful. I thought that I

272
00:12:23,600 --> 00:12:26,840
Speaker 2: needed somebody else to hold my hand through that section.

273
00:12:27,240 --> 00:12:30,080
Speaker 2: And the reality is, nobody knows my business is better

274
00:12:30,120 --> 00:12:32,480
Speaker 2: than me. No one cares about my businesses more than me,

275
00:12:32,600 --> 00:12:35,000
Speaker 2: No one cares about my mission more than me, and

276
00:12:35,040 --> 00:12:37,480
Speaker 2: so then it should just be me. At the end

277
00:12:37,480 --> 00:12:40,880
Speaker 2: of the day. My businesses are better off with me

278
00:12:41,000 --> 00:12:45,240
Speaker 2: making those decisions because I do lead in a way

279
00:12:45,280 --> 00:12:48,880
Speaker 2: that not everybody leads, and that's okay, But I think

280
00:12:48,960 --> 00:12:52,320
Speaker 2: it's important to kind of back yourself. Like I think

281
00:12:52,360 --> 00:12:56,720
Speaker 2: so often small business owners, especially women, they want to

282
00:12:56,720 --> 00:12:58,640
Speaker 2: be in business. They want to do things because it

283
00:12:58,679 --> 00:13:01,920
Speaker 2: sounds great, but they want someone to be alongside them

284
00:13:02,000 --> 00:13:04,760
Speaker 2: for the ride, and sometimes that's not the best decision.

285
00:13:05,280 --> 00:13:06,840
Speaker 4: Yeah, okay, great advice.

286
00:13:06,960 --> 00:13:09,240
Speaker 2: I don't know if it's great advice savage advice. And

287
00:13:09,280 --> 00:13:12,480
Speaker 2: also the last piece of advice that I got from

288
00:13:12,480 --> 00:13:14,880
Speaker 2: a friend was just don't get up.

289
00:13:15,679 --> 00:13:16,400
Speaker 4: God. I love that.

290
00:13:16,600 --> 00:13:17,160
Speaker 2: Good advice.

291
00:13:17,200 --> 00:13:20,520
Speaker 4: So easy as that. Yeah, great advice. V. Thank you.

292
00:13:20,880 --> 00:13:21,280
Speaker 2: Okay, V.

293
00:13:21,720 --> 00:13:25,559
Speaker 4: We're talking love and money at this point. Yeah, someone's

294
00:13:25,600 --> 00:13:28,440
Speaker 4: asking for your thoughts on the importance of a prenup

295
00:13:28,520 --> 00:13:30,280
Speaker 4: for couples. Considering marriage.

296
00:13:30,480 --> 00:13:33,240
Speaker 2: I like that. So first things first, in Australia we

297
00:13:33,280 --> 00:13:37,800
Speaker 2: don't have prenups. We have binding financial agreements which are similar,

298
00:13:37,920 --> 00:13:42,000
Speaker 2: but also they can be disputed, so I think it's

299
00:13:42,040 --> 00:13:44,480
Speaker 2: important to know that going in. But I also think

300
00:13:44,520 --> 00:13:47,520
Speaker 2: that a prenup, like let's call it, that, is a

301
00:13:47,520 --> 00:13:49,320
Speaker 2: good idea to make sure that you're on the same

302
00:13:49,360 --> 00:13:53,680
Speaker 2: page going into a marriage. In saying that, it probably

303
00:13:53,679 --> 00:13:56,560
Speaker 2: needs to happen prior to marriage, because if you're in

304
00:13:56,559 --> 00:13:59,320
Speaker 2: a de facto relationship, you default to the same rules

305
00:13:59,320 --> 00:14:01,719
Speaker 2: that apply to a married couple. So it's kind of

306
00:14:01,800 --> 00:14:04,320
Speaker 2: the same thing anyway, Like if you moved in with

307
00:14:04,360 --> 00:14:06,360
Speaker 2: your girlfriend and you met all of the you know,

308
00:14:06,520 --> 00:14:09,920
Speaker 2: criteria for being a de facto couple, like, you're not

309
00:14:10,040 --> 00:14:13,520
Speaker 2: treated that differently these days as a married couple is,

310
00:14:13,559 --> 00:14:16,080
Speaker 2: so we do have to be quite careful. It also

311
00:14:16,120 --> 00:14:18,720
Speaker 2: depends where you're starting from. Like if you're nineteen and

312
00:14:18,760 --> 00:14:20,800
Speaker 2: you're young and in love and you've just gotten married

313
00:14:20,840 --> 00:14:24,000
Speaker 2: and you have literally no money to your name, do

314
00:14:24,040 --> 00:14:28,800
Speaker 2: you need a prenup? Probably not, because you haven't started

315
00:14:28,800 --> 00:14:31,920
Speaker 2: the relationship with significant assets that need to be taken

316
00:14:31,920 --> 00:14:35,160
Speaker 2: into consideration. But if you're on the flip side, and

317
00:14:35,560 --> 00:14:38,320
Speaker 2: you know you're in your thirties, maybe it's your second marriage,

318
00:14:38,360 --> 00:14:41,360
Speaker 2: and you have an inheritance from a parent or a

319
00:14:41,400 --> 00:14:43,560
Speaker 2: grandparent that you want to make sure if you came

320
00:14:43,600 --> 00:14:46,600
Speaker 2: out of that marriage was protected. Yes, absolutely, I think

321
00:14:46,640 --> 00:14:49,600
Speaker 2: we need a binding financial agreement. I also think that

322
00:14:49,720 --> 00:14:55,040
Speaker 2: it is really good practice to go into a relationship

323
00:14:55,120 --> 00:14:58,400
Speaker 2: with a clear exit strategy. And that sounds terrible because like,

324
00:14:58,440 --> 00:15:01,200
Speaker 2: no one wants their relationship to fall apart, but I agree.

325
00:15:01,360 --> 00:15:04,040
Speaker 2: I didn't marry my husband because I want to divorce him.

326
00:15:04,320 --> 00:15:06,080
Speaker 2: I married him because I wanted his babies and I

327
00:15:06,080 --> 00:15:07,920
Speaker 2: want to be with him for the rest of my life.

328
00:15:08,520 --> 00:15:11,760
Speaker 2: But being able to sit down together and talk about, well,

329
00:15:11,920 --> 00:15:14,480
Speaker 2: what if this didn't work out, when we're both in

330
00:15:14,520 --> 00:15:17,720
Speaker 2: the headspace of wanting the best for each other, is

331
00:15:17,760 --> 00:15:20,520
Speaker 2: a really good outcome because that then becomes the fallback.

332
00:15:20,880 --> 00:15:23,240
Speaker 2: So something might happen. We might be really salty at

333
00:15:23,280 --> 00:15:24,920
Speaker 2: each other and don't even want to look at each other,

334
00:15:24,960 --> 00:15:27,000
Speaker 2: but we have this document that says, well, this is

335
00:15:27,040 --> 00:15:29,080
Speaker 2: how our assets will be divided up, this is how

336
00:15:29,080 --> 00:15:30,720
Speaker 2: we would care for our children, this is how we

337
00:15:30,760 --> 00:15:33,160
Speaker 2: would do this. Because we decided that when we actually

338
00:15:33,240 --> 00:15:35,200
Speaker 2: wanted the best for each other. And I think that

339
00:15:35,200 --> 00:15:38,640
Speaker 2: that's really nice. Yeah, So do I think you need one?

340
00:15:39,280 --> 00:15:41,760
Speaker 2: Not necessarily, but do I think that you should talk

341
00:15:41,800 --> 00:15:45,080
Speaker 2: about an excess strategy for your relationship? Absolutely, And it

342
00:15:45,120 --> 00:15:46,720
Speaker 2: can be a little bit more bid, Like isn't that

343
00:15:46,760 --> 00:15:48,520
Speaker 2: a bit weird to be? Like, you know, if I

344
00:15:48,560 --> 00:15:51,320
Speaker 2: said to you and Jess, hey, so what if this

345
00:15:51,360 --> 00:15:53,440
Speaker 2: doesn't work out, what you're going to do? Like you're like, oh, no,

346
00:15:53,560 --> 00:15:56,120
Speaker 2: this is going to work out, But like you have

347
00:15:56,240 --> 00:15:59,360
Speaker 2: to to put yourself in the best possible position, and like,

348
00:16:00,040 --> 00:16:03,400
Speaker 2: especially for women, we end up with the raw end

349
00:16:03,440 --> 00:16:05,720
Speaker 2: of the deal half the time. So like, what does

350
00:16:05,760 --> 00:16:08,360
Speaker 2: that look like? How is your partner going to advocate

351
00:16:08,400 --> 00:16:13,680
Speaker 2: for you? If you're hypothetically in this very stereotypical relationship.

352
00:16:13,760 --> 00:16:16,200
Speaker 2: You're both mid twenties, you're planning on getting married and

353
00:16:16,280 --> 00:16:22,120
Speaker 2: having kids, and it's very you know, heterosexual, Like, great,

354
00:16:22,280 --> 00:16:24,080
Speaker 2: so are you going to take time off when your

355
00:16:24,320 --> 00:16:27,960
Speaker 2: husband goes to work and you have kids. What's going

356
00:16:28,040 --> 00:16:30,040
Speaker 2: to happen to your suberannuation, what's going to happen in

357
00:16:30,080 --> 00:16:32,000
Speaker 2: the future. I think that we just need to prepare

358
00:16:32,360 --> 00:16:35,320
Speaker 2: to make sure that everybody is treated equally.

359
00:16:35,440 --> 00:16:37,920
Speaker 4: It's great advice. I actually I'm curious. Maybe it depends

360
00:16:37,960 --> 00:16:41,120
Speaker 4: on the agreement, but does that protect your future assets

361
00:16:41,160 --> 00:16:42,280
Speaker 4: or just like the current assets.

362
00:16:42,520 --> 00:16:46,360
Speaker 2: No, so it protects current assets. Future assets are often

363
00:16:46,400 --> 00:16:49,960
Speaker 2: seen as created together. Oh yeah, which is why. And

364
00:16:50,040 --> 00:16:52,480
Speaker 2: I'm not a lawyer, so do not quote me, obviously.

365
00:16:52,480 --> 00:16:54,320
Speaker 2: If you're going through this, speak to a lawyer. But

366
00:16:54,320 --> 00:16:56,560
Speaker 2: it's why in a court of law, if a woman

367
00:16:56,640 --> 00:16:59,560
Speaker 2: stays at home, the man's not automatically going to get

368
00:16:59,560 --> 00:17:02,720
Speaker 2: all the money all the super Like. I have situations

369
00:17:02,800 --> 00:17:05,719
Speaker 2: where community members that I've spoken to are like, I

370
00:17:05,720 --> 00:17:08,080
Speaker 2: got sixty percent of his super You listen to it

371
00:17:08,119 --> 00:17:11,680
Speaker 2: on money daries all the time because when you sit down,

372
00:17:12,160 --> 00:17:15,000
Speaker 2: she took the hit for you having a career. The

373
00:17:15,240 --> 00:17:17,760
Speaker 2: reason you had a career was somebody was backing you

374
00:17:17,840 --> 00:17:21,399
Speaker 2: at home. Like, I think there's just this misconception that

375
00:17:22,000 --> 00:17:25,240
Speaker 2: being a stay at home mum or not earning an

376
00:17:25,280 --> 00:17:28,240
Speaker 2: income while your partner is means that you're not contributing

377
00:17:28,600 --> 00:17:30,919
Speaker 2: when you are, And I think that we need to

378
00:17:31,240 --> 00:17:33,280
Speaker 2: see it a little bit more equally.

379
00:17:33,400 --> 00:17:34,119
Speaker 4: Completely agree.

380
00:17:34,280 --> 00:17:36,040
Speaker 2: I think it's a really good time to just jump

381
00:17:36,080 --> 00:17:37,560
Speaker 2: to a quick break, good idea.

382
00:17:37,680 --> 00:17:39,760
Speaker 4: I'll get my questions in order, okay, and then we'll

383
00:17:39,760 --> 00:17:41,840
Speaker 4: see more when we come back. More when we come back.

384
00:17:45,640 --> 00:17:48,280
Speaker 4: Welcome back everyone. Today is a game show that's an

385
00:17:48,320 --> 00:17:50,760
Speaker 4: ask me anything for strictly Victoria.

386
00:17:50,920 --> 00:17:53,600
Speaker 2: I'm not going to win any money apparently, so I'm

387
00:17:53,640 --> 00:17:55,439
Speaker 2: not sure where the game show part comes in. But

388
00:17:55,480 --> 00:17:56,760
Speaker 2: I'm glad you're having fun back.

389
00:17:56,920 --> 00:17:58,960
Speaker 4: I'm having so much fun. I feel like I've already won.

390
00:17:59,359 --> 00:18:02,200
Speaker 4: You have one, okay, so this next one, I feel

391
00:18:02,240 --> 00:18:05,359
Speaker 4: like you're gonna love this. So it is about multi

392
00:18:05,440 --> 00:18:07,800
Speaker 4: level marketing. Oh, I am gonna love this. But I

393
00:18:07,840 --> 00:18:09,639
Speaker 4: have been all of you Instagram lately, and I know

394
00:18:09,680 --> 00:18:13,200
Speaker 4: you've been sharing your thoughts, so I do my thoughts. Well, yep,

395
00:18:13,520 --> 00:18:16,239
Speaker 4: they are spicy thoughts. Honestly, it feels like it's been

396
00:18:16,320 --> 00:18:19,040
Speaker 4: a full on solap opera and I've had my popcorn ready, so.

397
00:18:18,960 --> 00:18:21,040
Speaker 2: I feel like so many people have too, Like I'm

398
00:18:21,080 --> 00:18:21,800
Speaker 2: not done.

399
00:18:22,080 --> 00:18:24,359
Speaker 4: I'm so excited. You even dropped a whole episode on

400
00:18:24,400 --> 00:18:27,679
Speaker 4: the weekend about how dodgy MLMs can be. If you

401
00:18:27,760 --> 00:18:29,960
Speaker 4: haven't heard one of those yet, go back to episodes.

402
00:18:30,000 --> 00:18:32,040
Speaker 4: It was juicy. Do not want to miss it, So

403
00:18:32,160 --> 00:18:34,400
Speaker 4: V tell me what are your thoughts.

404
00:18:34,760 --> 00:18:38,080
Speaker 2: I hate multi level marketing to my coreback That's why

405
00:18:38,080 --> 00:18:39,679
Speaker 2: I did a whole episode on it, and there are

406
00:18:39,680 --> 00:18:42,480
Speaker 2: more to come. Like, I'm not done, I haven't stopped.

407
00:18:42,560 --> 00:18:46,120
Speaker 2: I feel like this is a space that we need

408
00:18:46,280 --> 00:18:49,639
Speaker 2: education on because the most eye opening thing after dropping

409
00:18:49,640 --> 00:18:53,199
Speaker 2: that episode was that people that obviously weren't involved in

410
00:18:53,240 --> 00:18:56,679
Speaker 2: multi level marketing, like I didn't realize that this was

411
00:18:56,960 --> 00:18:59,600
Speaker 2: so awful. I didn't know this is how it worked.

412
00:18:59,600 --> 00:19:01,800
Speaker 2: I had no idea. And that's fantastic for you, but

413
00:19:01,840 --> 00:19:04,320
Speaker 2: you need to be educated because like if your friend's like, hey, Beck,

414
00:19:04,400 --> 00:19:07,919
Speaker 2: I've got this great shampoo, uh, You're gonna fall into

415
00:19:07,960 --> 00:19:10,119
Speaker 2: it and not know. So I think that as a community,

416
00:19:10,160 --> 00:19:13,240
Speaker 2: we deserve the education. But then on the flip side,

417
00:19:13,720 --> 00:19:15,920
Speaker 2: I see so much potential in these women and it's

418
00:19:15,960 --> 00:19:20,280
Speaker 2: going to waste on businesses that aren't theirs. So obviously

419
00:19:20,359 --> 00:19:21,960
Speaker 2: we did a whole episode. If you missed that, go

420
00:19:22,040 --> 00:19:24,400
Speaker 2: and listen to that. But I have a juicy interview

421
00:19:24,440 --> 00:19:27,280
Speaker 2: coming up. So doing all my research, I came across

422
00:19:27,280 --> 00:19:30,720
Speaker 2: a woman called Emily Lynn Paulson. Oh my gosh, Beck,

423
00:19:30,840 --> 00:19:34,080
Speaker 2: I'm obsessed. She has a book called hay Hunt. Okay,

424
00:19:34,400 --> 00:19:36,639
Speaker 2: isn't that so cute? That is cute. That's how so

425
00:19:36,760 --> 00:19:41,280
Speaker 2: many multi level marketing women start their conversations. They'll be like, oh, Heyhun,

426
00:19:41,680 --> 00:19:44,480
Speaker 2: So I was watching your videos and I just thought, Beck,

427
00:19:44,520 --> 00:19:46,960
Speaker 2: you're doing such a good job. Have you ever thought

428
00:19:46,960 --> 00:19:49,960
Speaker 2: about the shampoo that you use? Like it actually kills me?

429
00:19:50,280 --> 00:19:52,280
Speaker 2: So she's used that, just taken it back. And her

430
00:19:52,320 --> 00:19:55,520
Speaker 2: book is called Hayhun Sales, Sisterhood, Supremacy, and the Other

431
00:19:55,600 --> 00:19:59,040
Speaker 2: Lies behind multi Level Marketing. And when I saw her write,

432
00:19:59,200 --> 00:20:02,600
Speaker 2: she made more than a million dollars in multi level

433
00:20:02,640 --> 00:20:05,760
Speaker 2: marketing and has now flipped and been like that was toxic,

434
00:20:05,840 --> 00:20:09,400
Speaker 2: that was awful. I'm so embarrassed. Yeah, in the first

435
00:20:09,440 --> 00:20:12,359
Speaker 2: like ninety pages of her book she talks about white supremacy.

436
00:20:12,560 --> 00:20:16,000
Speaker 2: She has gone hard, Like I have so much respect

437
00:20:16,000 --> 00:20:18,160
Speaker 2: for her. But we have a juicy interview coming up,

438
00:20:18,200 --> 00:20:20,800
Speaker 2: So if you want to hear more about multi level marketing,

439
00:20:21,960 --> 00:20:23,440
Speaker 2: that's the one that you want to tune into.

440
00:20:23,640 --> 00:20:25,600
Speaker 4: Oh my god, I'm so excited for that.

441
00:20:25,920 --> 00:20:28,080
Speaker 2: I mean, I don't want to talk about anything apart

442
00:20:28,119 --> 00:20:30,000
Speaker 2: from that. But that's okay. We've got more questions to

443
00:20:30,040 --> 00:20:30,840
Speaker 2: get through. Yeah.

444
00:20:30,840 --> 00:20:34,840
Speaker 4: Absolutely, we will get all the juicy, juicy, juicy details,

445
00:20:34,960 --> 00:20:37,280
Speaker 4: I'm sure in that episode with Emily. Okay, so this

446
00:20:37,320 --> 00:20:39,600
Speaker 4: next question you have is how to raise capital for

447
00:20:39,720 --> 00:20:42,919
Speaker 4: a business idea I have Hypothetically it would require me

448
00:20:43,000 --> 00:20:44,199
Speaker 4: to buy a bit of stock.

449
00:20:44,760 --> 00:20:49,480
Speaker 2: Okay. So obviously there are lots of different ways to

450
00:20:49,560 --> 00:20:52,719
Speaker 2: starting a business. There's bootstrapping. So bootstrapping is where you

451
00:20:53,440 --> 00:20:56,399
Speaker 2: like take on every expense yourself, Like maybe you have

452
00:20:56,440 --> 00:20:58,840
Speaker 2: another job and you're funding it on the side. Maybe

453
00:20:58,880 --> 00:21:01,640
Speaker 2: you've got some savings' like, it's completely up to you.

454
00:21:02,480 --> 00:21:05,720
Speaker 2: I get really suspicious when people say I need to

455
00:21:05,800 --> 00:21:11,919
Speaker 2: raise capital for my business, because capital comes with a trade,

456
00:21:12,640 --> 00:21:16,400
Speaker 2: and that trade is for usually equity in your business.

457
00:21:16,480 --> 00:21:20,720
Speaker 2: And I am an advocate of women in particular owning

458
00:21:20,800 --> 00:21:23,400
Speaker 2: one hundred percent of their asset. So if you're saying

459
00:21:23,400 --> 00:21:25,880
Speaker 2: I really need to raise capital for a business idea,

460
00:21:26,119 --> 00:21:28,320
Speaker 2: So capital is cash so that you can invest into

461
00:21:28,359 --> 00:21:31,640
Speaker 2: your business. So do you want you know, if I said, hey, Beck,

462
00:21:31,640 --> 00:21:33,600
Speaker 2: I'll give you one hundred grand for this business idea,

463
00:21:33,800 --> 00:21:36,400
Speaker 2: but I want thirty percent of your business. If you're

464
00:21:36,440 --> 00:21:38,520
Speaker 2: so invested in this business and you know it's going

465
00:21:38,600 --> 00:21:40,440
Speaker 2: to be successful. Do you really want to sell out

466
00:21:40,480 --> 00:21:44,120
Speaker 2: that early and lose that much percentage of your business

467
00:21:44,200 --> 00:21:47,800
Speaker 2: before you've even begun right, Like some businesses you definitely

468
00:21:47,800 --> 00:21:49,840
Speaker 2: need funding for, but like I want you to have

469
00:21:49,880 --> 00:21:51,719
Speaker 2: dotted all your eyes, crossed all your teas and make

470
00:21:51,760 --> 00:21:53,719
Speaker 2: sure that you're in the best possible position before you've

471
00:21:53,760 --> 00:21:55,840
Speaker 2: done that. So have you done a full budget? Have

472
00:21:55,920 --> 00:21:58,560
Speaker 2: you done a forecast for a full year of expenses,

473
00:21:58,720 --> 00:22:00,920
Speaker 2: like all the way down to what is your website

474
00:22:00,920 --> 00:22:04,000
Speaker 2: hosting fee going to be? What is shipping going to cost?

475
00:22:04,040 --> 00:22:06,280
Speaker 2: You said you needed to buy stock. I'm assuming maybe

476
00:22:06,359 --> 00:22:09,760
Speaker 2: just like a retail business, you're buying stock. What is

477
00:22:09,760 --> 00:22:12,080
Speaker 2: the insurance going to cost to get that stock to

478
00:22:12,119 --> 00:22:14,520
Speaker 2: your warehouse? What is the warehouse going to cost? Like,

479
00:22:14,600 --> 00:22:18,680
Speaker 2: I want to know everything before you even think about

480
00:22:18,720 --> 00:22:21,760
Speaker 2: going into business and raising capital. If you're raising capital

481
00:22:21,760 --> 00:22:24,199
Speaker 2: and you don't have complete clarity on what that business

482
00:22:24,280 --> 00:22:27,199
Speaker 2: is becoming, you are not ready to raise capital. Well, like,

483
00:22:27,359 --> 00:22:29,399
Speaker 2: I just have a lot of thoughts about that. But

484
00:22:29,440 --> 00:22:33,280
Speaker 2: then also have you looked into business grants? Oh?

485
00:22:33,440 --> 00:22:33,760
Speaker 4: True?

486
00:22:34,119 --> 00:22:36,440
Speaker 2: Is that an option? There is so much money out

487
00:22:36,480 --> 00:22:39,560
Speaker 2: there and so many resources for small business owners to

488
00:22:39,680 --> 00:22:43,200
Speaker 2: get grants. Grants are literally like winning the business lottery beck,

489
00:22:43,680 --> 00:22:46,080
Speaker 2: Like the government is going to gift you some money

490
00:22:46,160 --> 00:22:47,760
Speaker 2: just to help you with your business. If you pitch

491
00:22:47,800 --> 00:22:50,920
Speaker 2: it properly right, that's a better deal than giving somebody

492
00:22:50,920 --> 00:22:54,440
Speaker 2: else a cut of your business. Also, have you thought

493
00:22:54,480 --> 00:22:57,720
Speaker 2: about maybe saving for a little longer, Like if you

494
00:22:57,960 --> 00:22:59,879
Speaker 2: aren't ready to buite the bullet and you don't have

495
00:23:00,080 --> 00:23:02,239
Speaker 2: capital to start the business, should you stay in your

496
00:23:02,320 --> 00:23:04,199
Speaker 2: job a little bit longer, save a bit more, and

497
00:23:04,240 --> 00:23:07,880
Speaker 2: start it a little bit later. Or Obviously I don't

498
00:23:07,920 --> 00:23:11,240
Speaker 2: love debt, but business debt is an option. Could you

499
00:23:11,280 --> 00:23:13,199
Speaker 2: go to a bank and get a loan so that

500
00:23:13,240 --> 00:23:15,280
Speaker 2: you owe a bank money, pay that back and you

501
00:23:15,320 --> 00:23:17,560
Speaker 2: still own one hundred percent of your business. So I

502
00:23:17,560 --> 00:23:19,280
Speaker 2: think that there are a lot of thoughts and feelings

503
00:23:19,280 --> 00:23:21,800
Speaker 2: I have. How would you then raise capital if you've

504
00:23:21,840 --> 00:23:25,000
Speaker 2: decided there are lots of different ways. There is crowdfunding,

505
00:23:25,119 --> 00:23:28,760
Speaker 2: There is you know angel investors, there is you know

506
00:23:28,840 --> 00:23:31,480
Speaker 2: business brokers that could go out and help you raise that.

507
00:23:31,520 --> 00:23:33,680
Speaker 2: There are heaps of options. But I would be trying

508
00:23:33,680 --> 00:23:37,240
Speaker 2: to avoid raising capital at all costs. Before trying to

509
00:23:37,320 --> 00:23:40,280
Speaker 2: raise capital, I think it should be the last thing

510
00:23:41,080 --> 00:23:42,240
Speaker 2: that is.

511
00:23:42,520 --> 00:23:44,360
Speaker 4: A lot to wrap my head around. But I'm sure

512
00:23:44,359 --> 00:23:47,800
Speaker 4: if you're in the business of wanting to start a business.

513
00:23:47,600 --> 00:23:49,920
Speaker 2: Yeah, please help me. Yeah, don't take people's cash holder

514
00:23:50,000 --> 00:23:51,560
Speaker 2: unless you really, really really have to.

515
00:23:52,359 --> 00:23:54,679
Speaker 4: Absolutely, that's great advice for me. God, I'm trying.

516
00:23:54,760 --> 00:23:57,760
Speaker 2: I'm trying you. Actually, I'm actually a business owner who

517
00:23:57,840 --> 00:24:01,359
Speaker 2: has had mulgeperience that has cost me hundreds, if not

518
00:24:01,680 --> 00:24:04,600
Speaker 2: millions of dollars. Sure it of so yeah, don't do that.

519
00:24:04,920 --> 00:24:07,160
Speaker 4: Yeah, Okay. This one is one that I'm sure most

520
00:24:07,200 --> 00:24:10,040
Speaker 4: of our community have asked themselves. When should you see

521
00:24:10,080 --> 00:24:11,880
Speaker 4: your financial advisor? Do you need to have a certain

522
00:24:11,880 --> 00:24:14,880
Speaker 4: amount of savings or goals before you do well?

523
00:24:14,880 --> 00:24:16,879
Speaker 2: It depends. And this is going to annoy all the

524
00:24:16,880 --> 00:24:19,720
Speaker 2: financial advisors, so close your little ears. But not everybody

525
00:24:19,760 --> 00:24:23,880
Speaker 2: needs a financial advisor. Sure, if you are somebody who

526
00:24:24,160 --> 00:24:26,959
Speaker 2: wants some help on your goals and your investments and

527
00:24:27,000 --> 00:24:29,760
Speaker 2: achieving them, then sure seeing a financial advisor will help.

528
00:24:30,240 --> 00:24:33,160
Speaker 2: But there is the ability to do it yourself. I'm

529
00:24:33,200 --> 00:24:35,000
Speaker 2: not saying it's the best option. It's kind of like

530
00:24:35,040 --> 00:24:37,320
Speaker 2: getting a gym membership back, Like if I went and

531
00:24:37,320 --> 00:24:38,680
Speaker 2: got a gym membership and you went and got a

532
00:24:38,760 --> 00:24:40,760
Speaker 2: gym membership. I know you are so good at going

533
00:24:40,840 --> 00:24:42,840
Speaker 2: to the gym, but if I had the gym membership,

534
00:24:42,880 --> 00:24:45,879
Speaker 2: I'm not going because I don't have any accountability. So

535
00:24:46,000 --> 00:24:48,399
Speaker 2: a financial advisor is kind of like a personal trainer

536
00:24:49,000 --> 00:24:50,560
Speaker 2: in that they might get you in the gym, they

537
00:24:50,640 --> 00:24:52,800
Speaker 2: might actually get you doing your program. They might actually

538
00:24:52,840 --> 00:24:55,720
Speaker 2: get you investing and creating wealth and doing all of

539
00:24:55,760 --> 00:24:58,160
Speaker 2: those things. Maybe you feel like you've got to the

540
00:24:58,320 --> 00:25:02,000
Speaker 2: end of your dear why journey. You're investing, you're saving,

541
00:25:02,040 --> 00:25:04,439
Speaker 2: you've got super you've got a property, and you're like like,

542
00:25:04,480 --> 00:25:06,119
Speaker 2: maybe I need to take it to the next level.

543
00:25:06,359 --> 00:25:08,800
Speaker 2: That is when you might want to see a financial advisor.

544
00:25:09,000 --> 00:25:12,080
Speaker 2: Not everybody needs one, but if you're going to see one,

545
00:25:12,200 --> 00:25:14,960
Speaker 2: I think it's important to have a lot of clarity

546
00:25:14,960 --> 00:25:17,359
Speaker 2: around your goals because they're going to ask you. Like

547
00:25:17,480 --> 00:25:20,200
Speaker 2: in my fact find meetings when I was a financial advisor,

548
00:25:20,359 --> 00:25:22,680
Speaker 2: I want all the info like prior to the meeting,

549
00:25:22,760 --> 00:25:24,400
Speaker 2: like what you earn, what you spend, what you own,

550
00:25:24,440 --> 00:25:25,960
Speaker 2: what you owe. But then I want you to go,

551
00:25:26,359 --> 00:25:27,680
Speaker 2: why are you here? What do you want from me?

552
00:25:27,920 --> 00:25:29,480
Speaker 2: If you go, oh, I don't know. I just want

553
00:25:29,480 --> 00:25:33,600
Speaker 2: to be better at money. That's really hard because I

554
00:25:33,640 --> 00:25:37,280
Speaker 2: could have six million different outcomes for you depending on

555
00:25:37,320 --> 00:25:39,000
Speaker 2: your goals. But if you don't have goals, am I

556
00:25:39,000 --> 00:25:41,600
Speaker 2: picking your goals? Are you going to like? That? Probably

557
00:25:41,640 --> 00:25:44,720
Speaker 2: not ideal. So before I saw a financial advisor, I

558
00:25:44,720 --> 00:25:46,440
Speaker 2: would sit down. I would do a full budget because

559
00:25:46,440 --> 00:25:49,520
Speaker 2: that's within your power. Like there is a free budget

560
00:25:49,520 --> 00:25:51,840
Speaker 2: on our website that you can download at any time

561
00:25:51,880 --> 00:25:54,400
Speaker 2: to do. I will do that for you for free. Literally,

562
00:25:54,440 --> 00:25:56,320
Speaker 2: go and download it and do it. If you want

563
00:25:56,320 --> 00:25:57,760
Speaker 2: to take it to the next level. We've got our

564
00:25:57,800 --> 00:26:00,280
Speaker 2: money master class that is a really good thing to

565
00:26:00,400 --> 00:26:02,040
Speaker 2: invest in. If you want to take your budget and

566
00:26:02,080 --> 00:26:04,560
Speaker 2: your cash flow to the next level, you can do

567
00:26:04,600 --> 00:26:06,280
Speaker 2: all of that. You can sit down, you can write

568
00:26:06,280 --> 00:26:08,200
Speaker 2: down your goals, you can write down what you want

569
00:26:08,200 --> 00:26:10,240
Speaker 2: to achieve. You can have a chat with your partner,

570
00:26:10,240 --> 00:26:12,240
Speaker 2: you can zoom out, you can look at your super fund.

571
00:26:12,640 --> 00:26:14,560
Speaker 2: You can call your super fund and have a chat

572
00:26:14,600 --> 00:26:17,560
Speaker 2: to the advisors there for free because it's included in

573
00:26:17,600 --> 00:26:21,520
Speaker 2: your super fees. Like, exhaust all of these options, I

574
00:26:21,520 --> 00:26:23,720
Speaker 2: would say before seeing a financial advisor, and then when

575
00:26:23,760 --> 00:26:26,680
Speaker 2: you decide I want to see financial advisor, that investment

576
00:26:26,720 --> 00:26:28,960
Speaker 2: is going to be worth it. Yeah, that investment is

577
00:26:29,000 --> 00:26:32,159
Speaker 2: going to help you be in the best possible financial position.

578
00:26:32,359 --> 00:26:34,280
Speaker 2: But no, you don't need to have certain savings. You

579
00:26:34,280 --> 00:26:36,040
Speaker 2: could have zero dollars to your name and seeing a

580
00:26:36,080 --> 00:26:37,480
Speaker 2: financial advisor makes sense.

581
00:26:37,880 --> 00:26:38,520
Speaker 4: It's comforting.

582
00:26:38,960 --> 00:26:41,800
Speaker 2: Or you could have one hundred million dollars and seeing

583
00:26:41,800 --> 00:26:45,400
Speaker 2: a financial advisor then makes sense. So it's not necessarily

584
00:26:45,440 --> 00:26:47,840
Speaker 2: about how much money you have, but how much value

585
00:26:47,880 --> 00:26:49,520
Speaker 2: you place on paying for advice.

586
00:26:49,760 --> 00:26:53,080
Speaker 4: Okay, this one's a bit gzy. What are some financial

587
00:26:53,119 --> 00:26:55,399
Speaker 4: decisions you've made in the past five years that you

588
00:26:55,480 --> 00:26:57,800
Speaker 4: would change or that you regret.

589
00:26:58,480 --> 00:27:02,040
Speaker 2: Oh, okay, lots To be honest, I am a very

590
00:27:02,080 --> 00:27:04,960
Speaker 2: good impulse purchaser. What's a small one that I made

591
00:27:05,040 --> 00:27:07,520
Speaker 2: this week? Are you ready? I am actually really embarrassed

592
00:27:07,520 --> 00:27:10,119
Speaker 2: by this. So I got back to the office the

593
00:27:10,160 --> 00:27:12,679
Speaker 2: other day after making this purchase and I said to

594
00:27:12,720 --> 00:27:15,199
Speaker 2: my whole team, I am embarrassed. I cannot believe I

595
00:27:15,240 --> 00:27:19,400
Speaker 2: just did this. I bought a dress last weekend for

596
00:27:19,520 --> 00:27:22,719
Speaker 2: two hundred and fifty dollars from chic. I really wanted it.

597
00:27:22,840 --> 00:27:25,720
Speaker 2: I have had my eye on it. Whatever bought the dress.

598
00:27:26,000 --> 00:27:28,520
Speaker 2: I am really short, so that dress needs to be

599
00:27:28,600 --> 00:27:32,280
Speaker 2: taken up, and I just in my head thought that's

600
00:27:32,320 --> 00:27:35,639
Speaker 2: not that expensive. So I went down to the tailor

601
00:27:35,960 --> 00:27:38,280
Speaker 2: and she's like, put the dress on Norri's. She marks

602
00:27:38,280 --> 00:27:40,480
Speaker 2: it all up for it being taken up, and I'm like, yep, Crogel,

603
00:27:40,520 --> 00:27:42,560
Speaker 2: no worry's going to go to the checkout beck one

604
00:27:42,600 --> 00:27:46,320
Speaker 2: hundred and sixty five dollars. It is a cotton dress, Like,

605
00:27:46,400 --> 00:27:49,240
Speaker 2: I don't think it's that complicated anyway, one hundred and

606
00:27:49,280 --> 00:27:51,480
Speaker 2: sixty five dollars. And the regret I have is that

607
00:27:52,320 --> 00:27:55,919
Speaker 2: I just didn't say anything. I felt sick. There was

608
00:27:55,960 --> 00:27:59,359
Speaker 2: somebody behind me waiting in the line, and I didn't

609
00:27:59,359 --> 00:28:00,720
Speaker 2: want to like student.

610
00:28:00,560 --> 00:28:01,920
Speaker 4: And totally can't.

611
00:28:02,160 --> 00:28:04,480
Speaker 2: I in that moment was like, but I am, she's

612
00:28:04,520 --> 00:28:06,679
Speaker 2: on the money. I should be questioning this, Like I

613
00:28:06,760 --> 00:28:09,000
Speaker 2: just want to get out of this situation. Got back

614
00:28:09,040 --> 00:28:12,679
Speaker 2: to the office. I regret that. I don't know if

615
00:28:12,760 --> 00:28:14,960
Speaker 2: I regret any of the really, really big mistakes. So

616
00:28:14,960 --> 00:28:16,600
Speaker 2: when I was twenty two, I took out a forty

617
00:28:16,640 --> 00:28:19,560
Speaker 2: thousand dollar personal loan so that I could buy a car,

618
00:28:20,200 --> 00:28:23,920
Speaker 2: I could travel to France and study, and I could

619
00:28:23,960 --> 00:28:26,560
Speaker 2: go on a holiday. In hindsight, I wish I had

620
00:28:26,560 --> 00:28:29,360
Speaker 2: better financial literacy so that I didn't make that decision,

621
00:28:29,760 --> 00:28:32,960
Speaker 2: But I feel like me being in that debt was

622
00:28:33,280 --> 00:28:37,960
Speaker 2: pivotal to creating my career and actually valuing money more.

623
00:28:38,280 --> 00:28:41,120
Speaker 2: I feel like I needed that kickup the butt. I

624
00:28:41,200 --> 00:28:43,880
Speaker 2: needed that stress, I needed that anxiety. I needed to

625
00:28:43,920 --> 00:28:46,840
Speaker 2: go through that to grow through that in a way.

626
00:28:47,200 --> 00:28:49,400
Speaker 2: And I don't think that today I would be as

627
00:28:49,520 --> 00:28:52,560
Speaker 2: good at managing my finances if I didn't have something

628
00:28:53,080 --> 00:28:55,880
Speaker 2: like that that puts significant pressure on me. No one

629
00:28:55,920 --> 00:28:58,600
Speaker 2: deserves to be in that amount of debt. But at

630
00:28:58,600 --> 00:29:02,800
Speaker 2: the same time, I don't regret it. I know at

631
00:29:02,800 --> 00:29:04,480
Speaker 2: the time I was doing the best that I could

632
00:29:04,480 --> 00:29:07,920
Speaker 2: with the tools and the reaci I had. So are

633
00:29:07,920 --> 00:29:11,320
Speaker 2: there big things that I would regret, Sure, But I

634
00:29:11,360 --> 00:29:15,000
Speaker 2: think the things that other people regret might not be

635
00:29:15,080 --> 00:29:18,440
Speaker 2: my regrets. It's personal, right, Absolutely, it's personal.

636
00:29:18,520 --> 00:29:19,720
Speaker 4: We all on our own journey.

637
00:29:19,880 --> 00:29:21,800
Speaker 2: Do I regret that one hundred and sixty five dollars

638
00:29:21,880 --> 00:29:26,160
Speaker 2: tailor charge. Absolutely, I'm still embarrassed by it, but that's okay.

639
00:29:26,160 --> 00:29:27,560
Speaker 4: You come to me next time I chop it off.

640
00:29:27,600 --> 00:29:30,480
Speaker 2: See, I feel like the dress would look better just hacked.

641
00:29:30,800 --> 00:29:32,960
Speaker 4: At this point, it looks cool, But now what.

642
00:29:33,000 --> 00:29:34,560
Speaker 2: Am I going to go do? Pick it up and

643
00:29:34,640 --> 00:29:37,320
Speaker 2: then wear it and just always be annoyed by it.

644
00:29:37,320 --> 00:29:38,760
Speaker 2: I don't know how this is going to pan out.

645
00:29:38,880 --> 00:29:40,040
Speaker 4: No money comes and goes.

646
00:29:40,720 --> 00:29:44,320
Speaker 2: You say that. Now, I do have my own questions,

647
00:29:44,360 --> 00:29:45,760
Speaker 2: but you've got your own questions. I'm ready.

648
00:29:45,800 --> 00:29:47,160
Speaker 4: They're not educational, they're not money.

649
00:29:47,360 --> 00:29:51,360
Speaker 2: I feelated if you're asking them, I'm scared, but also

650
00:29:51,400 --> 00:29:53,640
Speaker 2: probably the community of thinking them as well. So what

651
00:29:53,720 --> 00:29:54,000
Speaker 2: are they?

652
00:29:54,080 --> 00:29:55,360
Speaker 4: Okay, And you don't have to answer it.

653
00:29:55,280 --> 00:29:57,560
Speaker 2: It is I like how you're prefacing it. But also

654
00:29:57,600 --> 00:29:59,880
Speaker 2: this is an AMA and I'm great.

655
00:30:00,360 --> 00:30:02,160
Speaker 4: Yeah, I want to know what your first email address?

656
00:30:02,280 --> 00:30:05,800
Speaker 2: Okay, it was pink Cotton Candy underscore xx at hotmail

657
00:30:05,880 --> 00:30:06,240
Speaker 2: dot com.

658
00:30:06,240 --> 00:30:08,480
Speaker 4: Oh that's not too bad. Actually, if you still had.

659
00:30:08,440 --> 00:30:10,640
Speaker 2: That, that makes it. I don't I mean you could

660
00:30:10,760 --> 00:30:14,400
Speaker 2: email it. I don't know the log in. Yeah, like,

661
00:30:14,440 --> 00:30:16,080
Speaker 2: I don't know the password. I don't even know how

662
00:30:16,120 --> 00:30:20,480
Speaker 2: to recover that. But yeah, pink Cotton Candy underscore xx and.

663
00:30:20,360 --> 00:30:23,680
Speaker 4: That was candy. Why I don't know that really paints

664
00:30:23,680 --> 00:30:24,920
Speaker 4: a picture of your teenage self.

665
00:30:25,000 --> 00:30:27,280
Speaker 2: Yeah, it does, just it you don't want to know

666
00:30:27,360 --> 00:30:28,560
Speaker 2: her she was interesting.

667
00:30:29,160 --> 00:30:30,840
Speaker 4: Okay, the next one is really short and sweet. You

668
00:30:30,840 --> 00:30:31,440
Speaker 4: have any tattooes?

669
00:30:31,560 --> 00:30:31,760
Speaker 1: Oh?

670
00:30:31,880 --> 00:30:33,920
Speaker 2: Yes I do, I should, Yes, I do. I have

671
00:30:33,960 --> 00:30:36,440
Speaker 2: two tattoos. They're both on my face. They are my eyebrows.

672
00:30:36,480 --> 00:30:36,880
Speaker 2: That is it?

673
00:30:37,640 --> 00:30:38,240
Speaker 3: Oh?

674
00:30:38,320 --> 00:30:44,280
Speaker 2: Really? Yeah? Incredible? Yeah, I am too scared to get

675
00:30:44,280 --> 00:30:47,200
Speaker 2: a tattoo, not because of the pain, but because like

676
00:30:48,240 --> 00:30:49,400
Speaker 2: what if I changed my mind?

677
00:30:49,520 --> 00:30:50,400
Speaker 4: Yeah, that's fair.

678
00:30:50,600 --> 00:30:53,360
Speaker 2: I changed my mind all the time. Like I am

679
00:30:53,560 --> 00:30:57,320
Speaker 2: so noncommittal, like I love the idea of a tattoo,

680
00:30:57,560 --> 00:31:00,200
Speaker 2: but also like, oh, I don't know where i'd put it.

681
00:31:00,280 --> 00:31:02,040
Speaker 2: How do you even pick where you put your first tattoo?

682
00:31:02,080 --> 00:31:05,040
Speaker 2: And then I'm a creature of like balance, so like

683
00:31:05,080 --> 00:31:06,480
Speaker 2: if I get one on my left arm, do I

684
00:31:06,480 --> 00:31:08,080
Speaker 2: have to get one to match all my right arm?

685
00:31:08,160 --> 00:31:08,240
Speaker 1: Like?

686
00:31:08,360 --> 00:31:09,840
Speaker 2: Oh the anxiety?

687
00:31:10,000 --> 00:31:11,640
Speaker 4: My first one was on my bum cheek. Maybe I

688
00:31:11,720 --> 00:31:13,880
Speaker 4: need to get on the other one now maybe? Okay?

689
00:31:13,880 --> 00:31:15,720
Speaker 2: And then if I had a tattoo, what do you

690
00:31:15,720 --> 00:31:18,320
Speaker 2: think it would have been if you had a tattoo? Yeah,

691
00:31:18,360 --> 00:31:22,000
Speaker 2: that wasn't my eyebrows. Wasn't your eyebrows even count? I

692
00:31:22,000 --> 00:31:23,480
Speaker 2: don't know, I think they count.

693
00:31:23,520 --> 00:31:26,040
Speaker 4: Okay, I think it's really really cool okay, so I

694
00:31:26,080 --> 00:31:28,840
Speaker 4: would think you would get.

695
00:31:29,440 --> 00:31:31,080
Speaker 2: You think I would have a tramp stamp. Don't you

696
00:31:31,160 --> 00:31:32,560
Speaker 2: use like an angel or something?

697
00:31:33,320 --> 00:31:36,800
Speaker 4: I think juicy just above your butt crack.

698
00:31:37,080 --> 00:31:41,920
Speaker 2: Oh, I will put that in the suggestions box.

699
00:31:42,040 --> 00:31:44,560
Speaker 4: Thank you if you could actually get that done.

700
00:31:45,560 --> 00:31:47,880
Speaker 2: Do you know what again, suggestions box will come back

701
00:31:47,920 --> 00:31:48,800
Speaker 2: to it perfect.

702
00:31:49,240 --> 00:31:50,840
Speaker 4: I just really quickly want to know your favorite color.

703
00:31:50,920 --> 00:31:51,640
Speaker 2: My favorite color?

704
00:31:52,840 --> 00:31:58,720
Speaker 4: No black, no blue, no, I actually can't think of

705
00:31:58,720 --> 00:31:59,760
Speaker 4: a single other color.

706
00:32:00,280 --> 00:32:00,800
Speaker 2: Like orange.

707
00:32:01,160 --> 00:32:02,320
Speaker 4: Oh, she's an orange girl.

708
00:32:02,360 --> 00:32:04,720
Speaker 2: I really like orange, like but like more erring on

709
00:32:04,760 --> 00:32:06,720
Speaker 2: the side of like the yellow orange, like you know

710
00:32:06,800 --> 00:32:10,160
Speaker 2: that like verve clicko orange, like that champagne color. I

711
00:32:10,200 --> 00:32:14,160
Speaker 2: just feel like that is like so happy, just a

712
00:32:14,240 --> 00:32:17,280
Speaker 2: happy color like pink. Yeah, cool, Like I like pink,

713
00:32:17,320 --> 00:32:20,000
Speaker 2: it's the brand colors. But like you just look at

714
00:32:20,040 --> 00:32:22,680
Speaker 2: like a bright orange yellow and you go, that's happy.

715
00:32:22,720 --> 00:32:24,400
Speaker 2: I like, yeah, that's my favorite.

716
00:32:24,600 --> 00:32:26,720
Speaker 4: Yeah okay, And then this one is not for me.

717
00:32:27,040 --> 00:32:28,000
Speaker 4: We're back on the money.

718
00:32:28,120 --> 00:32:30,800
Speaker 2: So we've gone from email addresses back to money questions.

719
00:32:30,880 --> 00:32:31,480
Speaker 2: I like it.

720
00:32:31,800 --> 00:32:35,520
Speaker 4: Okay, So what's yours and Steve's next financial goal and

721
00:32:35,560 --> 00:32:38,280
Speaker 4: what is a financial decision you'll make outside the norm

722
00:32:38,400 --> 00:32:39,680
Speaker 4: in the next few months.

723
00:32:39,720 --> 00:32:42,160
Speaker 2: Outside the norm. Okay, I feel like those are two

724
00:32:42,200 --> 00:32:48,440
Speaker 2: different questions. So what is our next financial goal? So

725
00:32:48,920 --> 00:32:53,000
Speaker 2: full clarity, we currently have two mortgages and we would

726
00:32:53,080 --> 00:32:56,480
Speaker 2: like to extinguish one of those mortgages because the idea

727
00:32:56,560 --> 00:33:00,760
Speaker 2: of being in seven figures of debt is really ANXI inducing.

728
00:33:00,840 --> 00:33:03,160
Speaker 2: I really don't like it. So we are trying to

729
00:33:03,160 --> 00:33:06,200
Speaker 2: smash down one of those. We don't have any other

730
00:33:06,240 --> 00:33:09,080
Speaker 2: big spends. I think that we've been through that season

731
00:33:09,120 --> 00:33:11,720
Speaker 2: in our lives, like we have gotten married. That was

732
00:33:11,760 --> 00:33:14,960
Speaker 2: a big one. We bought our first home. We were

733
00:33:15,040 --> 00:33:17,160
Speaker 2: lucky enough to have enough equity in our first home

734
00:33:17,200 --> 00:33:20,000
Speaker 2: to buy our second property. So now I think it's

735
00:33:20,000 --> 00:33:23,160
Speaker 2: about settling down. I mean, I know that we want

736
00:33:23,240 --> 00:33:25,560
Speaker 2: to go on some more family holidays, but we went

737
00:33:25,640 --> 00:33:28,080
Speaker 2: on a big europe trip and so now we're kind

738
00:33:28,120 --> 00:33:29,960
Speaker 2: of like, oh, like I don't really want to do that.

739
00:33:30,320 --> 00:33:32,320
Speaker 2: I want to do it again, but like, financially, it's

740
00:33:32,360 --> 00:33:36,040
Speaker 2: just to us not a responsible use of our funds.

741
00:33:36,560 --> 00:33:39,840
Speaker 2: And I also, being completely transparent, sold down a lot

742
00:33:39,880 --> 00:33:43,960
Speaker 2: of my share portfolio to buy back the rest of

743
00:33:44,080 --> 00:33:46,720
Speaker 2: Zella money. So you know, a lot of people have

744
00:33:46,800 --> 00:33:50,920
Speaker 2: probably seen that I am now the again sole owner.

745
00:33:50,920 --> 00:33:52,560
Speaker 2: I had a business partner for a period of time.

746
00:33:52,560 --> 00:33:54,520
Speaker 2: I don't I would really like to bump all of

747
00:33:54,560 --> 00:33:58,400
Speaker 2: those investing dollars back up because I sold them down

748
00:33:58,480 --> 00:34:00,880
Speaker 2: so that I could purchase a business partner out. And

749
00:34:00,880 --> 00:34:03,880
Speaker 2: that's fine, that makes sense, and I was very grateful

750
00:34:03,920 --> 00:34:05,760
Speaker 2: to be in a situation where I could do that.

751
00:34:05,960 --> 00:34:08,200
Speaker 2: But yeah, I would like to get our investments back

752
00:34:08,239 --> 00:34:11,000
Speaker 2: on track because they definitely took a hit. And then

753
00:34:11,120 --> 00:34:13,479
Speaker 2: what is a financial decision that will make outside the norm?

754
00:34:14,440 --> 00:34:16,919
Speaker 2: I don't know if we'll make a financial decision that's

755
00:34:16,960 --> 00:34:20,600
Speaker 2: super outside the norm. We are currently landscaping, is that

756
00:34:20,640 --> 00:34:22,920
Speaker 2: the right word? Like we're doing our front yard, and

757
00:34:22,960 --> 00:34:26,640
Speaker 2: we got some big quotes back that I didn't anticipate

758
00:34:27,080 --> 00:34:29,160
Speaker 2: to do that, Like they were between fifty and seventy

759
00:34:29,239 --> 00:34:31,040
Speaker 2: thousand dollars for a front yard, and I just thought

760
00:34:31,080 --> 00:34:33,960
Speaker 2: that was a lot of money. So we'll probably spend

761
00:34:34,080 --> 00:34:36,759
Speaker 2: I don't know, maybe forty thousand dollars on our front

762
00:34:36,800 --> 00:34:38,799
Speaker 2: yard because it needs a whole driveway, so it's not

763
00:34:38,920 --> 00:34:42,279
Speaker 2: just like landscaping, Like we actually need to move the

764
00:34:42,440 --> 00:34:45,520
Speaker 2: entrance to our house, which is quite Spano.

765
00:34:45,840 --> 00:34:46,440
Speaker 4: It's a big one.

766
00:34:46,520 --> 00:34:49,319
Speaker 2: Yeah, that's probably a big expense that's coming up. But

767
00:34:49,440 --> 00:34:51,560
Speaker 2: we've also been talking about it because we bought that

768
00:34:51,600 --> 00:34:53,640
Speaker 2: house in twenty twenty, so this has been in the

769
00:34:53,680 --> 00:34:55,040
Speaker 2: works for the last four years.

770
00:34:55,200 --> 00:34:55,640
Speaker 4: I see.

771
00:34:55,920 --> 00:34:58,040
Speaker 2: So I don't want people thinking, oh, V just has

772
00:34:58,080 --> 00:35:01,440
Speaker 2: you know, cash sitting around, because I also think, following

773
00:35:01,480 --> 00:35:04,040
Speaker 2: onto that, that there is a very big misconception that

774
00:35:04,200 --> 00:35:07,080
Speaker 2: I earn heaps and heaps and heaps of money and

775
00:35:07,480 --> 00:35:10,640
Speaker 2: we are very comfortable. Please don't get me wrong, but

776
00:35:10,680 --> 00:35:13,759
Speaker 2: we also do budget and cash flow. And when I

777
00:35:13,800 --> 00:35:16,840
Speaker 2: say I love budgeting and cash flow, like I do

778
00:35:16,920 --> 00:35:19,719
Speaker 2: it for us every single month, like I'm on top

779
00:35:19,760 --> 00:35:23,120
Speaker 2: of that, and most of the income that she's on,

780
00:35:23,160 --> 00:35:26,040
Speaker 2: the money and Zella money make get reinvested back into

781
00:35:26,080 --> 00:35:29,040
Speaker 2: the business. And I want to be as transparent about

782
00:35:29,040 --> 00:35:31,560
Speaker 2: that at the same time as being a little bit

783
00:35:31,640 --> 00:35:34,360
Speaker 2: protective of that. Yeah, And the reason I want to

784
00:35:34,400 --> 00:35:36,520
Speaker 2: be protective of it is not because I'm embarrassed by it,

785
00:35:36,880 --> 00:35:38,759
Speaker 2: like in fact, my whole team know what I earn

786
00:35:38,800 --> 00:35:41,240
Speaker 2: and what I do, because I think being transparent is important.

787
00:35:41,320 --> 00:35:46,360
Speaker 2: But I am an outlier in this space. I'm not

788
00:35:46,440 --> 00:35:50,360
Speaker 2: employed by somebody. I control my income and I'm a

789
00:35:50,400 --> 00:35:53,319
Speaker 2: business owner of multiple businesses, So do I earn a

790
00:35:53,320 --> 00:35:56,960
Speaker 2: lot of money, yes, in comparison to what the average

791
00:35:56,960 --> 00:36:02,479
Speaker 2: income of an Australian is. I don't think that by

792
00:36:02,520 --> 00:36:06,200
Speaker 2: sharing my income with the community it actually helps you

793
00:36:06,320 --> 00:36:08,719
Speaker 2: or inspires you, because I'm not speaking most of the

794
00:36:08,760 --> 00:36:11,680
Speaker 2: time to other business owners where that's aspirational, and speaking

795
00:36:11,719 --> 00:36:15,239
Speaker 2: to people who are earning normal salaries who need me

796
00:36:15,320 --> 00:36:18,640
Speaker 2: to be an advocate, not somebody who's completely unrelatable, right,

797
00:36:18,719 --> 00:36:21,920
Speaker 2: And so my view on that is that it's not

798
00:36:22,120 --> 00:36:25,400
Speaker 2: constructive for the community to share that. But I have

799
00:36:25,520 --> 00:36:28,400
Speaker 2: shared how I budget, what I do, the templates like,

800
00:36:28,520 --> 00:36:32,200
Speaker 2: I will give you absolutely everything to be successful, and

801
00:36:32,360 --> 00:36:35,239
Speaker 2: I will be honest about you know where I can,

802
00:36:35,719 --> 00:36:38,120
Speaker 2: what I'm spending and what I'm earning. But I just

803
00:36:38,160 --> 00:36:43,359
Speaker 2: think that by sharing a number, it doesn't really give

804
00:36:43,480 --> 00:36:48,920
Speaker 2: you anything in exchange except for answering something pervy that

805
00:36:49,120 --> 00:36:51,920
Speaker 2: doesn't really contribute to the success of our community.

806
00:36:52,000 --> 00:36:53,200
Speaker 4: Sure completely agree?

807
00:36:53,600 --> 00:36:54,560
Speaker 2: Is that weird? No?

808
00:36:54,640 --> 00:36:57,400
Speaker 4: Not all, even though I am always curious about the

809
00:36:57,400 --> 00:37:00,839
Speaker 4: little nitty gritty details. Yeah, what's that doing? We don't

810
00:37:00,840 --> 00:37:03,840
Speaker 4: need it? I know if you hear that. That's the buzzer.

811
00:37:04,040 --> 00:37:07,160
Speaker 2: Oh we could edit one in in post if we could.

812
00:37:07,360 --> 00:37:08,360
Speaker 4: That would be lovely.

813
00:37:08,680 --> 00:37:09,840
Speaker 2: That was a nice buzzer.

814
00:37:09,960 --> 00:37:14,960
Speaker 4: What wow, that was allowed? Oh geez, really nostalgic. Time's

815
00:37:15,040 --> 00:37:18,560
Speaker 4: up for today's episode of Ask v Anything. We've battled

816
00:37:18,560 --> 00:37:20,920
Speaker 4: through your questions and we've all just won the grand prize.

817
00:37:20,960 --> 00:37:23,720
Speaker 4: Better financial knowledge? Is that? Better financial knowledge?

818
00:37:23,760 --> 00:37:26,440
Speaker 2: You do know my email address that I can't access

819
00:37:26,600 --> 00:37:30,160
Speaker 2: and we're in cotton Candy underscore xx if anybody would

820
00:37:30,239 --> 00:37:32,840
Speaker 2: like to slide into my emails which nobody.

821
00:37:32,520 --> 00:37:34,839
Speaker 4: Checks, and we need to go fund me for your

822
00:37:34,960 --> 00:37:35,560
Speaker 4: next tattoo.

823
00:37:35,840 --> 00:37:38,520
Speaker 2: That is true. That is true. We can again talk

824
00:37:38,560 --> 00:37:40,239
Speaker 2: about that at a later day.

825
00:37:40,480 --> 00:37:41,799
Speaker 4: Really, Okay, don't worry.

826
00:37:41,880 --> 00:37:43,920
Speaker 2: This is not the end of the game, isn't it.

827
00:37:44,520 --> 00:37:48,520
Speaker 2: Oh No, apparently we're waiting for the next one. So

828
00:37:48,600 --> 00:37:50,520
Speaker 2: I guess if you want to do more, AMAS, make

829
00:37:50,560 --> 00:37:53,200
Speaker 2: sure that you're checking in on our Instagram because that's

830
00:37:53,200 --> 00:37:55,600
Speaker 2: where we drop all of the callouts and the questions

831
00:37:55,640 --> 00:37:58,719
Speaker 2: for episodes like this. And also I get the opportunity

832
00:37:58,719 --> 00:38:02,000
Speaker 2: to rant about multi level much. Yeah, so that is

833
00:38:02,040 --> 00:38:04,640
Speaker 2: really fun. Anyway, this has been kind of fun. Yeah,

834
00:38:04,920 --> 00:38:07,320
Speaker 2: I don't hate it, we can do it again, but

835
00:38:07,520 --> 00:38:09,600
Speaker 2: till then, we'll see you on Friday for a Friday

836
00:38:09,640 --> 00:38:11,640
Speaker 2: episode and we hope that you have the best week.

837
00:38:11,840 --> 00:38:14,200
Speaker 4: Bye guys.

838
00:38:18,440 --> 00:38:21,000
Speaker 2: The advice shared on She's on the Money is general

839
00:38:21,040 --> 00:38:24,879
Speaker 2: in nature and does not consider your individual circumstances. She's

840
00:38:24,960 --> 00:38:28,400
Speaker 2: on the Money exists purely for educational purposes and should

841
00:38:28,440 --> 00:38:31,600
Speaker 2: not be relied upon to make an investment or financial decision.

842
00:38:32,000 --> 00:38:34,440
Speaker 2: If you do choose to buy a financial product, read

843
00:38:34,480 --> 00:38:38,600
Speaker 2: the PDS TMD and obtain appropriate financial advice tailored towards

844
00:38:38,640 --> 00:38:41,920
Speaker 2: your needs. Victoria Divine and She's on the Money are

845
00:38:42,000 --> 00:38:47,040
Speaker 2: authorized representatives of Money Shoper Pty Ltd ABN three two

846
00:38:47,040 --> 00:38:51,000
Speaker 2: one six four nine two seven seven zero eight AFSL

847
00:38:51,160 --> 00:38:57,640
Speaker 2: four five one two eight nine