1
00:00:00,640 --> 00:00:04,880
Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yr

2
00:00:04,920 --> 00:00:08,639
Speaker 1: the Order Kerni Whoalbury and a waddery woman. And before

3
00:00:08,640 --> 00:00:11,119
Speaker 1: we get started on She's on the Money podcast, I

4
00:00:11,160 --> 00:00:14,280
Speaker 1: would like to acknowledge the traditional custodians of the land

5
00:00:14,400 --> 00:00:17,639
Speaker 1: of which this podcast is recorded on a wondery country,

6
00:00:18,120 --> 00:00:22,560
Speaker 1: acknowledging the elders, the ancestors and the next generation coming through.

7
00:00:23,040 --> 00:00:27,120
Speaker 1: As this podcast is about connecting, empowering, knowledge sharing and

8
00:00:27,200 --> 00:00:30,560
Speaker 1: the storytelling of you to make a difference for today

9
00:00:31,040 --> 00:00:32,599
Speaker 1: and lasting impact for tomorrow.

10
00:00:33,280 --> 00:00:34,120
Speaker 2: Let's get into it.

11
00:00:34,760 --> 00:00:54,000
Speaker 3: She's on the Money, She's on the Money.

12
00:00:57,680 --> 00:01:01,360
Speaker 4: Hello, and welcome to She on the Money, the podcast

13
00:01:01,360 --> 00:01:05,200
Speaker 4: for millennials who want financial freedom. Today, my friends, is

14
00:01:05,360 --> 00:01:08,120
Speaker 4: Friday once again, which means it is time to sit

15
00:01:08,240 --> 00:01:10,760
Speaker 4: back with the girls with a beavy in hand, to

16
00:01:10,880 --> 00:01:13,639
Speaker 4: unpack our favorite moments from this week and of course,

17
00:01:13,920 --> 00:01:17,440
Speaker 4: to celebrate you, guys, the incredible She's on the Money community.

18
00:01:17,880 --> 00:01:19,839
Speaker 4: As always, we are going to be sharing our favorite

19
00:01:19,840 --> 00:01:21,959
Speaker 4: money wins. We're going to be discussing what's making news

20
00:01:22,040 --> 00:01:24,880
Speaker 4: in the finance world, and we'll be helping to answer

21
00:01:24,920 --> 00:01:28,399
Speaker 4: a very like extra very juicy money question this week

22
00:01:28,440 --> 00:01:33,160
Speaker 4: about Finders investing platform that is backed by Crypto. So

23
00:01:33,400 --> 00:01:36,520
Speaker 4: let's get into it. Jessicurci tell us what happened on

24
00:01:36,560 --> 00:01:40,279
Speaker 4: our Money Diary Monday. So this week's diarist just really

25
00:01:40,319 --> 00:01:43,360
Speaker 4: got me in the heart. She was this beautiful single

26
00:01:43,440 --> 00:01:46,800
Speaker 4: mum who had a really great journey with money. She

27
00:01:47,000 --> 00:01:49,240
Speaker 4: actually could recall and I'm not going to give it away,

28
00:01:49,280 --> 00:01:51,360
Speaker 4: I want people to listen, but she could recall an.

29
00:01:51,280 --> 00:01:54,120
Speaker 2: Exact moment it was like, well pivotal.

30
00:01:53,760 --> 00:01:56,560
Speaker 5: Yeah in her childhood and a phrase that her grandmother

31
00:01:56,800 --> 00:01:59,400
Speaker 5: told her abound like money and finance in life that

32
00:01:59,520 --> 00:02:02,960
Speaker 5: just star with her. And I found it so fascinating

33
00:02:03,120 --> 00:02:06,480
Speaker 5: that you know, that was twenty thirty. I don't remember

34
00:02:06,520 --> 00:02:09,280
Speaker 5: how old she was while was a yeah, and it

35
00:02:09,520 --> 00:02:12,480
Speaker 5: like that sentence stuck in her mind and resonated with

36
00:02:12,520 --> 00:02:15,240
Speaker 5: her and really shaped her money story, which I thought

37
00:02:15,320 --> 00:02:17,120
Speaker 5: was it just goes back to that thing that you

38
00:02:17,120 --> 00:02:20,919
Speaker 5: always say that our money stories really shape in our childhood.

39
00:02:20,320 --> 00:02:23,920
Speaker 4: And it's so different for everybody. Like after that episode recording,

40
00:02:24,040 --> 00:02:26,280
Speaker 4: Jess and I ended up having this whole conversation about

41
00:02:26,320 --> 00:02:28,639
Speaker 4: like things that I might have said or that you've

42
00:02:28,680 --> 00:02:31,480
Speaker 4: had said to you that were pivotal money related or

43
00:02:31,520 --> 00:02:34,880
Speaker 4: not that the other person might not have any idea about.

44
00:02:34,960 --> 00:02:37,079
Speaker 2: Like I just even at school.

45
00:02:36,720 --> 00:02:39,359
Speaker 4: Like someone saying something about, like even let's talk about

46
00:02:39,400 --> 00:02:42,160
Speaker 4: body image, right, they'd be like, oh, v X y Z,

47
00:02:42,240 --> 00:02:44,080
Speaker 4: and you'd be like, wow, now I'm so self conscious

48
00:02:44,120 --> 00:02:46,480
Speaker 4: of that, and they that was just a broad brush

49
00:02:46,560 --> 00:02:48,639
Speaker 4: comment from them that they probably didn't mean. But it's

50
00:02:48,680 --> 00:02:51,280
Speaker 4: like changed the shape of the way you think and

51
00:02:51,360 --> 00:02:53,920
Speaker 4: act and feel and behave. And I just think that that's,

52
00:02:54,160 --> 00:02:56,359
Speaker 4: you know, so important to talk about when it comes

53
00:02:56,400 --> 00:02:59,920
Speaker 4: to money, because you can change someone's life with a comment.

54
00:03:00,240 --> 00:03:01,680
Speaker 4: And like, that's why I think we have to be

55
00:03:01,720 --> 00:03:02,800
Speaker 4: so careful with our words.

56
00:03:02,919 --> 00:03:04,120
Speaker 2: Yeah, we to have a lot of power.

57
00:03:04,280 --> 00:03:07,480
Speaker 5: She became a single parent at nineteen and she now

58
00:03:07,520 --> 00:03:08,200
Speaker 5: has three kids.

59
00:03:08,240 --> 00:03:11,440
Speaker 2: It was just a really it was I who love story? Yeah, agreed?

60
00:03:11,639 --> 00:03:12,840
Speaker 6: Guys, what was the sentence?

61
00:03:13,200 --> 00:03:17,280
Speaker 2: No, we're not telling you who do you think we are?

62
00:03:17,800 --> 00:03:20,320
Speaker 4: Like, we need to plug our own shot fair enough

63
00:03:20,360 --> 00:03:23,440
Speaker 4: with the best advertisement for our own show one hundred

64
00:03:23,800 --> 00:03:26,040
Speaker 4: I mean, probably not, because if you're listening to the show,

65
00:03:26,080 --> 00:03:28,520
Speaker 4: you probably already listened to the Money Diary episode and

66
00:03:28,520 --> 00:03:31,080
Speaker 4: we probably should look at some other advertising revenues, but

67
00:03:31,160 --> 00:03:32,559
Speaker 4: not yet before.

68
00:03:32,280 --> 00:03:33,799
Speaker 2: We go to Wednesday.

69
00:03:33,960 --> 00:03:36,000
Speaker 5: We did also have a bonus episode go up with

70
00:03:36,000 --> 00:03:38,200
Speaker 5: this week on Tuesday, all.

71
00:03:38,200 --> 00:03:40,800
Speaker 2: My favorite episode ever, guys.

72
00:03:40,400 --> 00:03:42,400
Speaker 5: A whole extra She's on the Money day. I hope

73
00:03:42,400 --> 00:03:44,840
Speaker 5: you'll enjoyed it. But it was a bonus Q and

74
00:03:44,880 --> 00:03:48,520
Speaker 5: A with a mortgage broker because we've just had so many,

75
00:03:48,720 --> 00:03:50,320
Speaker 5: so many questions and.

76
00:03:50,400 --> 00:03:53,560
Speaker 4: It's like an extra special mortgage broker. We had Kate

77
00:03:53,640 --> 00:03:58,080
Speaker 4: Bransgrove on the show, who spoiler is my newest business

78
00:03:58,080 --> 00:04:01,840
Speaker 4: partner because we have rolled her mortgage broking business into

79
00:04:01,880 --> 00:04:04,560
Speaker 4: my mortgage broking business and now we are known as

80
00:04:04,640 --> 00:04:08,400
Speaker 4: Zela Money as of literally today today, like.

81
00:04:08,360 --> 00:04:12,640
Speaker 2: It's official today, guys, Like we're in business. She's in business.

82
00:04:12,840 --> 00:04:16,080
Speaker 5: She's brilliant. You guys have heard me talking about on

83
00:04:16,160 --> 00:04:18,680
Speaker 5: the podcast how I have been through three mortgage brokers

84
00:04:18,680 --> 00:04:20,599
Speaker 5: before I got to a good one. As spoiler alert,

85
00:04:20,640 --> 00:04:21,400
Speaker 5: Kate's the good ones.

86
00:04:21,600 --> 00:04:24,800
Speaker 4: So also spoiler alert, what's the lesson here, Jess? Is

87
00:04:24,800 --> 00:04:27,480
Speaker 4: it just maybe take my recommendation of the pop stop.

88
00:04:29,000 --> 00:04:29,640
Speaker 5: We do move on.

89
00:04:29,720 --> 00:04:30,320
Speaker 2: We can move on.

90
00:04:30,600 --> 00:04:33,000
Speaker 5: Really good episode, great Q and A. It's kind of

91
00:04:33,000 --> 00:04:35,560
Speaker 5: like having a personal chat with a mortgage broker. She

92
00:04:35,600 --> 00:04:37,840
Speaker 5: answered so many good questions and if you do want

93
00:04:37,839 --> 00:04:40,040
Speaker 5: to chat to her, you actually can do that.

94
00:04:40,160 --> 00:04:42,400
Speaker 2: Jump on the website will allow you to do that.

95
00:04:42,720 --> 00:04:44,680
Speaker 5: I will share her head to the website, you can

96
00:04:44,720 --> 00:04:46,520
Speaker 5: fill out a form and we can connect you with

97
00:04:46,560 --> 00:04:47,560
Speaker 5: someone from the seller team.

98
00:04:47,760 --> 00:04:50,120
Speaker 4: Yeah, absolutely all Headzela dot com dot a you. It's

99
00:04:50,160 --> 00:04:53,080
Speaker 4: pretty cute website. Designed it myself, guys. Little bit of

100
00:04:53,120 --> 00:04:56,520
Speaker 4: background diy action. I'm a financial advisor, a podcaster, and

101
00:04:56,560 --> 00:04:59,760
Speaker 4: now a web designer because I didn't want to pay someone.

102
00:05:00,200 --> 00:05:05,039
Speaker 2: Moving on, Miss Georgia King, Hello, tell us about Wednesday.

103
00:05:05,120 --> 00:05:06,960
Speaker 2: How are you? By the way? You just good. It's

104
00:05:07,000 --> 00:05:10,200
Speaker 2: so good to see you. Guys, had a little and

105
00:05:10,240 --> 00:05:11,680
Speaker 2: you went to a little stint in.

106
00:05:11,760 --> 00:05:13,880
Speaker 6: News I did a couple of days in NUSA, wrote

107
00:05:13,880 --> 00:05:16,040
Speaker 6: about it in the newsletter. In fact, but it was

108
00:05:16,160 --> 00:05:19,880
Speaker 6: it was divine. It was non fence, don't get me wrong, but.

109
00:05:19,839 --> 00:05:24,640
Speaker 2: It was it was bloody. Oh my gosh, deceased.

110
00:05:25,000 --> 00:05:28,080
Speaker 6: We should go one day, Jeorge, Yeah, yeah, okay, come along.

111
00:05:28,520 --> 00:05:30,920
Speaker 2: You might get an invite this time. O. They good?

112
00:05:31,680 --> 00:05:33,680
Speaker 2: But what happened on Wednesday's okay?

113
00:05:33,760 --> 00:05:36,680
Speaker 6: So Wednesday was all about simplifying tax time.

114
00:05:37,240 --> 00:05:40,600
Speaker 2: We love, I love. I don't know about you, guys,

115
00:05:40,640 --> 00:05:42,919
Speaker 2: because you're so organized, I'm really not.

116
00:05:43,160 --> 00:05:46,440
Speaker 4: That's Jessic making me look organized.

117
00:05:46,120 --> 00:05:46,880
Speaker 6: Well compared to me.

118
00:05:46,960 --> 00:05:48,839
Speaker 2: You're both superstars. Thank you.

119
00:05:48,880 --> 00:05:50,840
Speaker 6: But basically it was a really good episode for anyone

120
00:05:50,880 --> 00:05:54,240
Speaker 6: who is like me and they're not as together. We

121
00:05:54,360 --> 00:05:56,760
Speaker 6: spoke about just how to make it all way more

122
00:05:56,800 --> 00:05:59,039
Speaker 6: easy because it can be so overwhelming at this time

123
00:05:59,080 --> 00:06:02,320
Speaker 6: of year. So we went through what you can claim,

124
00:06:02,360 --> 00:06:05,120
Speaker 6: what you can't claim. You went into detail, and yeah, basically,

125
00:06:05,200 --> 00:06:06,839
Speaker 6: if you are like me and you're someone who is

126
00:06:06,880 --> 00:06:09,200
Speaker 6: really overwhelmed at this time of year, then it's the

127
00:06:09,200 --> 00:06:10,200
Speaker 6: perfect place to start.

128
00:06:10,320 --> 00:06:12,080
Speaker 5: You can do your tax yourself. I know a lot

129
00:06:12,080 --> 00:06:13,760
Speaker 5: of people think you can't. I've never had my tax

130
00:06:13,800 --> 00:06:17,400
Speaker 5: done for me, really never, And like, if you're prepared, it's.

131
00:06:17,279 --> 00:06:18,360
Speaker 2: A lot easier on you, for sure.

132
00:06:18,440 --> 00:06:20,600
Speaker 4: Yeah, that's that's the count. How did you learn how

133
00:06:20,600 --> 00:06:21,640
Speaker 4: to do you tax yourself?

134
00:06:21,680 --> 00:06:21,840
Speaker 6: Though?

135
00:06:21,920 --> 00:06:24,279
Speaker 4: Jess I just got on the ATY website and followed

136
00:06:24,320 --> 00:06:26,760
Speaker 4: the prompts. Yeah, cool, it's actually not that complicated. I

137
00:06:26,800 --> 00:06:30,000
Speaker 4: feel like we over complicate things, guys. It's twenty twenty two.

138
00:06:30,160 --> 00:06:33,360
Speaker 4: AI is our best friend. It is very self explanatory,

139
00:06:33,720 --> 00:06:36,440
Speaker 4: but I do recommend if you have an investment, property,

140
00:06:36,600 --> 00:06:39,560
Speaker 4: or you know, some confusing duel incomes or something that

141
00:06:39,600 --> 00:06:42,400
Speaker 4: you want help with, I would genuinely reach out to

142
00:06:42,560 --> 00:06:45,400
Speaker 4: an accountant because they're going to know best. And also

143
00:06:45,480 --> 00:06:47,600
Speaker 4: money win one of the things you can claim. It's

144
00:06:47,640 --> 00:06:49,440
Speaker 4: your accounting fees from the last year.

145
00:06:49,520 --> 00:06:50,680
Speaker 2: Correct money win.

146
00:06:51,720 --> 00:06:54,920
Speaker 4: All right, gee, speaking of money wins, it is time

147
00:06:55,000 --> 00:06:57,159
Speaker 4: to share some of that budget direct money wins.

148
00:06:57,160 --> 00:06:58,799
Speaker 2: What have you got for us this way already?

149
00:06:58,839 --> 00:07:00,680
Speaker 6: Let's do it, ladies. The first one the week comes

150
00:07:00,680 --> 00:07:04,200
Speaker 6: from Rebecca money in. We have been pining over an

151
00:07:04,320 --> 00:07:07,920
Speaker 6: espresso machine film months. We've previously had a pod machine

152
00:07:08,080 --> 00:07:10,720
Speaker 6: still good, not great. So she's gone on to say

153
00:07:10,880 --> 00:07:14,160
Speaker 6: we couldn't justify it the two thousand dollars eight hundred?

154
00:07:14,640 --> 00:07:19,480
Speaker 2: How do you say that to hundred dollar? No starts wrong.

155
00:07:19,520 --> 00:07:20,400
Speaker 2: We're going to keep that in.

156
00:07:20,440 --> 00:07:22,920
Speaker 4: You guys knew what we were talking reading numbers is

157
00:07:23,160 --> 00:07:25,160
Speaker 4: twenty eight hundred dollars.

158
00:07:24,680 --> 00:07:26,760
Speaker 6: The one for the model that we wanted. But then

159
00:07:26,800 --> 00:07:29,320
Speaker 6: I found it on sale at JB for nineteen hundred

160
00:07:29,320 --> 00:07:31,840
Speaker 6: dollars and we bought it with gift cards purchased through

161
00:07:31,880 --> 00:07:34,600
Speaker 6: shot back. I know it's still really expensive, but I

162
00:07:34,640 --> 00:07:36,200
Speaker 6: love it and it's worth every cent.

163
00:07:36,600 --> 00:07:39,320
Speaker 4: Yes, I love that for you get it queen. Also

164
00:07:39,800 --> 00:07:42,640
Speaker 4: the hack there that was just shared buying gift cards

165
00:07:42,680 --> 00:07:44,880
Speaker 4: to spend on yourself because you get money back.

166
00:07:45,120 --> 00:07:47,960
Speaker 2: Smart. That is smart. Love it.

167
00:07:48,120 --> 00:07:50,640
Speaker 6: Well done to you, Rebecca, all right. Next week it

168
00:07:50,680 --> 00:07:53,440
Speaker 6: comes from Julia. I've managed to hustle and save an

169
00:07:53,480 --> 00:07:56,120
Speaker 6: extra eight hundred and forty five dollars this month. I

170
00:07:56,160 --> 00:07:59,240
Speaker 6: achieved this by selling goodies on Marketplace, by returning bottles,

171
00:07:59,280 --> 00:08:02,200
Speaker 6: by doing an e task a job, by depositing coins,

172
00:08:02,240 --> 00:08:05,280
Speaker 6: and by saving on fuel using the seven eleven app.

173
00:08:05,520 --> 00:08:06,320
Speaker 6: Some hot tips there.

174
00:08:06,600 --> 00:08:08,800
Speaker 4: I feel like that seven eleven hot tip app came

175
00:08:08,800 --> 00:08:09,800
Speaker 4: from Miss Jessic.

176
00:08:10,200 --> 00:08:12,760
Speaker 2: She a color we love that.

177
00:08:13,200 --> 00:08:15,680
Speaker 6: Next week comes from sus This is a fun one.

178
00:08:15,960 --> 00:08:19,560
Speaker 6: I sang BWS happy birthday and I won twenty dollars.

179
00:08:19,840 --> 00:08:21,440
Speaker 6: Bring on a bottle of red in front of the

180
00:08:21,440 --> 00:08:25,240
Speaker 6: fire cheers way, she wrote, She's sang the okay, So

181
00:08:26,000 --> 00:08:27,120
Speaker 6: I did a little research.

182
00:08:27,680 --> 00:08:30,240
Speaker 2: Thank you you. We were going to ah, well, how

183
00:08:30,280 --> 00:08:32,480
Speaker 2: do we see? We can see just so great?

184
00:08:32,640 --> 00:08:34,720
Speaker 6: It turns out they'll probably show you away if you

185
00:08:34,760 --> 00:08:37,199
Speaker 6: do it at the counter at BWS. So is beer,

186
00:08:37,240 --> 00:08:39,280
Speaker 6: wines and spirits for anyone who's not an alcoholic.

187
00:08:39,320 --> 00:08:40,640
Speaker 2: Can you tell everybody to do that?

188
00:08:40,760 --> 00:08:44,720
Speaker 6: Yeah, well maybe we can just do it just counter. No,

189
00:08:44,840 --> 00:08:47,360
Speaker 6: So the real campaign is that you log onto their

190
00:08:47,400 --> 00:08:50,640
Speaker 6: website and they've got multiple options. It's bws's birthday, so

191
00:08:50,679 --> 00:08:54,400
Speaker 6: you have to film yourself singing happy birthday to b WS,

192
00:08:54,480 --> 00:08:57,239
Speaker 6: like having a dance and they'll transfer you to twenty.

193
00:08:57,000 --> 00:08:59,080
Speaker 2: To everyone like, or is it you win it?

194
00:08:59,240 --> 00:08:59,480
Speaker 6: No?

195
00:08:59,360 --> 00:09:03,760
Speaker 2: No, look is this a sponsored this.

196
00:09:06,720 --> 00:09:07,040
Speaker 5: Dance?

197
00:09:07,160 --> 00:09:09,440
Speaker 2: It's like you just get paid to do this? Correct?

198
00:09:09,600 --> 00:09:12,200
Speaker 5: If anybody I really hope this is a money in

199
00:09:12,400 --> 00:09:14,880
Speaker 5: for somebody, bus and may we should hit them uth payment.

200
00:09:15,400 --> 00:09:19,240
Speaker 5: But if anyone out there sings in a choir, go

201
00:09:19,280 --> 00:09:21,199
Speaker 5: on the website because there's a button that says get

202
00:09:21,200 --> 00:09:23,360
Speaker 5: a choir to sing us Happy Birthday in public.

203
00:09:23,400 --> 00:09:29,000
Speaker 2: You get two grand. It's almost there. I will do it.

204
00:09:29,559 --> 00:09:31,320
Speaker 2: I will do it. We should do it.

205
00:09:31,440 --> 00:09:34,000
Speaker 5: If you're in a school or if you sing, for

206
00:09:34,200 --> 00:09:38,560
Speaker 5: surely there is a music teacher years get this and

207
00:09:38,840 --> 00:09:41,400
Speaker 5: please send us a video because I really hope that

208
00:09:41,440 --> 00:09:42,719
Speaker 5: you get the true grand.

209
00:09:43,040 --> 00:09:46,000
Speaker 4: Okay, okay, but stepping down from there, you can get

210
00:09:46,040 --> 00:09:50,520
Speaker 4: five hundred dollars for making a BWUS birthday outfit like Jess,

211
00:09:50,679 --> 00:09:53,840
Speaker 4: you are the queen of outfits on Instagram, Like you

212
00:09:53,880 --> 00:09:55,439
Speaker 4: can make a b w US outfit.

213
00:09:55,880 --> 00:09:58,240
Speaker 2: You can do that grade out though I don't know

214
00:09:58,360 --> 00:10:00,560
Speaker 2: what that would maybe the we're all done.

215
00:10:00,600 --> 00:10:03,920
Speaker 4: Maybe someone's done it at a Norman Aerial birthday message

216
00:10:03,960 --> 00:10:05,400
Speaker 4: one thousand dollars.

217
00:10:05,800 --> 00:10:06,240
Speaker 5: What is it?

218
00:10:06,320 --> 00:10:07,040
Speaker 2: Is this a competition?

219
00:10:07,280 --> 00:10:11,280
Speaker 6: Assuming it's some kind of like data fishing situation.

220
00:10:10,920 --> 00:10:13,079
Speaker 2: But it's very legit. I don't think it is just

221
00:10:13,200 --> 00:10:14,040
Speaker 2: down the rabbit hole.

222
00:10:15,040 --> 00:10:18,080
Speaker 4: Hold on, guys, I think it's actually just genius marketing.

223
00:10:18,120 --> 00:10:21,199
Speaker 4: From that, if we think about it, like two grand,

224
00:10:21,280 --> 00:10:23,160
Speaker 4: you're like, wow, that's a lot of money to win,

225
00:10:23,520 --> 00:10:26,240
Speaker 4: but two grand for an ad real cheap.

226
00:10:27,040 --> 00:10:28,720
Speaker 2: They're in it for the marketing. We're in it for

227
00:10:28,760 --> 00:10:32,520
Speaker 2: the money. Everybody, Just wait, just wait. It is the

228
00:10:32,600 --> 00:10:33,600
Speaker 2: end of financial year.

229
00:10:33,800 --> 00:10:36,520
Speaker 4: Watch out in twenty twenty two, twenty twenty three financial

230
00:10:36,559 --> 00:10:38,400
Speaker 4: year plans for she's on the money, We've.

231
00:10:38,280 --> 00:10:41,320
Speaker 2: Got vil marketing. You'll see us next week. We'll be like,

232
00:10:41,320 --> 00:10:45,000
Speaker 2: oh my gosh, seeing she's on the money. Birthday. How

233
00:10:45,040 --> 00:10:46,800
Speaker 2: do it go? How good you got?

234
00:10:46,840 --> 00:10:49,440
Speaker 6: Let's move on to Ashley money Win. I received a

235
00:10:49,440 --> 00:10:51,640
Speaker 6: call from our old bank saying they had been trying

236
00:10:51,679 --> 00:10:54,480
Speaker 6: to reach us since twenty nineteen to give us a

237
00:10:54,559 --> 00:10:56,320
Speaker 6: check for nearly five hundred dollars.

238
00:10:56,679 --> 00:10:59,000
Speaker 4: I mean, I get why you weren't answering the phone

239
00:10:59,040 --> 00:10:59,679
Speaker 4: to the bank.

240
00:11:00,040 --> 00:11:02,200
Speaker 6: We'd closed our accounts and had moved house, so the

241
00:11:02,200 --> 00:11:04,880
Speaker 6: mail never reached us. Now I'm five hundred dollars rich

242
00:11:05,200 --> 00:11:07,959
Speaker 6: just for answering the phone call. I never answered my phone.

243
00:11:08,400 --> 00:11:09,800
Speaker 2: Maybe rich.

244
00:11:10,520 --> 00:11:13,640
Speaker 6: Interesting. The next win comes from Denise. I scored Think

245
00:11:13,679 --> 00:11:16,080
Speaker 6: and Grow Rich from our local up shop for one

246
00:11:16,280 --> 00:11:18,480
Speaker 6: dollar and it looks like it's never been opened.

247
00:11:18,520 --> 00:11:19,880
Speaker 2: That is a very good book.

248
00:11:19,880 --> 00:11:20,800
Speaker 6: Didn't we talk about that?

249
00:11:20,880 --> 00:11:21,080
Speaker 3: Now?

250
00:11:21,160 --> 00:11:23,360
Speaker 6: Eliso, we did get you a little throwback if you're

251
00:11:23,400 --> 00:11:26,200
Speaker 6: interested in finance books, ladies, and I did a little

252
00:11:26,240 --> 00:11:27,959
Speaker 6: deep dive, so we rob.

253
00:11:27,760 --> 00:11:30,439
Speaker 2: That in a couple of weeks. I love a finance book, and.

254
00:11:30,520 --> 00:11:33,040
Speaker 4: You guys love being told what's in the finance book,

255
00:11:33,160 --> 00:11:34,840
Speaker 4: so you don't have to read the exercisely.

256
00:11:35,160 --> 00:11:36,920
Speaker 2: The next win comes from Emma money Win.

257
00:11:37,120 --> 00:11:39,640
Speaker 6: I started the ten thousand dollar money hack grid and

258
00:11:39,720 --> 00:11:42,079
Speaker 6: have ticked off six squares in nine days.

259
00:11:42,240 --> 00:11:44,480
Speaker 2: I feel like we haven't spoken about those recently in

260
00:11:44,520 --> 00:11:44,840
Speaker 2: a while.

261
00:11:44,880 --> 00:11:45,679
Speaker 6: Where do we find them be?

262
00:11:45,840 --> 00:11:46,200
Speaker 2: What are they?

263
00:11:46,240 --> 00:11:48,760
Speaker 4: They're free downloadables on the website. You can print them,

264
00:11:48,800 --> 00:11:50,760
Speaker 4: you can save them on your phone, you can cross

265
00:11:50,800 --> 00:11:53,200
Speaker 4: them off. And they're like savings hacked. So there's like

266
00:11:53,240 --> 00:11:55,839
Speaker 4: one thousand dollars or like ten thousand dollars or whatever

267
00:11:55,840 --> 00:11:57,679
Speaker 4: you want to save for in twelve months, and then

268
00:11:57,720 --> 00:11:59,600
Speaker 4: there's like fifty two boxes and you fill it in

269
00:11:59,640 --> 00:12:03,120
Speaker 4: and you'll be richer. I guarantee it if you actually

270
00:12:03,120 --> 00:12:04,440
Speaker 4: follow the savings hack.

271
00:12:04,520 --> 00:12:04,720
Speaker 1: Yeah.

272
00:12:04,720 --> 00:12:06,560
Speaker 6: Well, Emma said that she sticks on the fridge and

273
00:12:06,559 --> 00:12:08,920
Speaker 6: it's a constant reminder to keep on plugging away.

274
00:12:09,080 --> 00:12:11,400
Speaker 4: We did make them very esthetic, so they look cute

275
00:12:11,400 --> 00:12:13,280
Speaker 4: on your fridge too, Like you're welcome.

276
00:12:13,480 --> 00:12:15,720
Speaker 2: Head to the freebies page. That's where they are stunning,

277
00:12:15,760 --> 00:12:16,040
Speaker 2: all right.

278
00:12:16,080 --> 00:12:18,720
Speaker 6: Our final win of the day, Ladies is from Stella

279
00:12:19,240 --> 00:12:22,120
Speaker 6: Money Win. My full time job is literally as far

280
00:12:22,240 --> 00:12:24,880
Speaker 6: from creative as you can get, but I love doing

281
00:12:25,000 --> 00:12:27,640
Speaker 6: art in my spare time. I started a side hustle

282
00:12:27,720 --> 00:12:30,640
Speaker 6: job running painting classes at a local art studio after

283
00:12:30,679 --> 00:12:33,400
Speaker 6: business hours and earned more hourly than I do at

284
00:12:33,440 --> 00:12:34,000
Speaker 6: my day job.

285
00:12:34,080 --> 00:12:35,120
Speaker 2: My gosh, buddy weir.

286
00:12:35,320 --> 00:12:37,080
Speaker 6: Not only does it force me to do what I

287
00:12:37,120 --> 00:12:39,600
Speaker 6: love each weekend, but it also adds to my salary

288
00:12:39,640 --> 00:12:42,280
Speaker 6: every single week. It covers my groceries and my takeaway

289
00:12:42,280 --> 00:12:42,680
Speaker 6: for the week.

290
00:12:42,920 --> 00:12:44,400
Speaker 2: Well done, Stella, we.

291
00:12:44,440 --> 00:12:47,400
Speaker 4: Lovesle, we stand side hustle.

292
00:12:47,559 --> 00:12:49,160
Speaker 2: I love that? Is that all you got?

293
00:12:49,160 --> 00:12:49,480
Speaker 1: Fast?

294
00:12:50,240 --> 00:12:51,120
Speaker 2: Good work? Gee?

295
00:12:51,120 --> 00:12:53,120
Speaker 4: I feel like that was a really good rap or

296
00:12:53,240 --> 00:12:55,920
Speaker 4: like collection of She's on the Money wins And as always,

297
00:12:56,000 --> 00:12:58,640
Speaker 4: it has been great celebrating some of your budget Direct

298
00:12:58,679 --> 00:13:01,920
Speaker 4: money wins this week budget Direct winner of can Stars

299
00:13:02,000 --> 00:13:05,120
Speaker 4: Insurer of the Year Award twenty twenty two Budget Direct

300
00:13:05,240 --> 00:13:06,080
Speaker 4: Insurance Solved.

301
00:13:06,200 --> 00:13:07,960
Speaker 2: Let's go to a quick breaking after that, we are

302
00:13:08,000 --> 00:13:09,880
Speaker 2: going to jump into some juicing content.

303
00:13:14,000 --> 00:13:16,720
Speaker 5: All right, guys, it is end of financial year, Victoria

304
00:13:16,760 --> 00:13:19,640
Speaker 5: Devine's favorite time of year and if you came to

305
00:13:19,679 --> 00:13:22,120
Speaker 5: our Ses on the Money Birthday event last night, you

306
00:13:22,160 --> 00:13:24,480
Speaker 5: would have celebrated with us. And if you didn't get

307
00:13:24,480 --> 00:13:27,400
Speaker 5: to come, we will actually be unlading p episode from

308
00:13:27,440 --> 00:13:30,520
Speaker 5: that next week, so keep an ear out. But ef y,

309
00:13:30,600 --> 00:13:33,200
Speaker 5: this yar means something very special for super I'm super

310
00:13:33,200 --> 00:13:33,760
Speaker 5: excited about.

311
00:13:33,840 --> 00:13:36,920
Speaker 4: Yes, you've changed, Like, imagine you saying this like two

312
00:13:37,000 --> 00:13:39,400
Speaker 4: years ago, like, oh my gosh, guys and the financial year.

313
00:13:39,440 --> 00:13:42,000
Speaker 4: I am so excited. Have you seen the recent super changes?

314
00:13:42,120 --> 00:13:44,079
Speaker 4: Whereas before this episode we were like, oh my god,

315
00:13:44,120 --> 00:13:44,520
Speaker 4: this is sick.

316
00:13:44,559 --> 00:13:46,920
Speaker 2: Have you seen this? Have you seen that? Jess, what's happening?

317
00:13:47,080 --> 00:13:47,920
Speaker 2: So you might.

318
00:13:47,800 --> 00:13:50,600
Speaker 5: Remember we spoke about this probably this time last year.

319
00:13:50,600 --> 00:13:53,640
Speaker 5: I would imagine, seems legit that our story adds up. Yeah,

320
00:13:53,840 --> 00:13:57,160
Speaker 5: but the changes that were made to superannuation are staggered

321
00:13:57,200 --> 00:13:59,480
Speaker 5: steps up, if you will. So we were shifting from

322
00:13:59,480 --> 00:14:03,920
Speaker 5: the original mandatory superannuation rate of nine point five percent yep,

323
00:14:04,000 --> 00:14:08,040
Speaker 5: stepping slowly towards the end goal of twelve So last

324
00:14:08,120 --> 00:14:11,160
Speaker 5: year went from nine point five to ten yesha, ten

325
00:14:11,200 --> 00:14:12,079
Speaker 5: to ten point five.

326
00:14:12,200 --> 00:14:15,079
Speaker 2: So you're getting more super from me this year. Jesse agreed. Sha,

327
00:14:15,240 --> 00:14:16,240
Speaker 2: That's why I'm excited.

328
00:14:16,679 --> 00:14:20,160
Speaker 4: You're like, yes, make money, make bank, but it's actually

329
00:14:20,200 --> 00:14:22,600
Speaker 4: really cool. So, as you said, we are planning, or

330
00:14:22,640 --> 00:14:25,600
Speaker 4: I mean the ATO or the Australian Taxation Office is

331
00:14:25,840 --> 00:14:29,560
Speaker 4: planning to get us to twelve percent by twenty twenty five,

332
00:14:29,640 --> 00:14:31,720
Speaker 4: but it has to go up in small increments, otherwise

333
00:14:31,720 --> 00:14:34,480
Speaker 4: businesses might get you know, a little bit stunted by that,

334
00:14:34,720 --> 00:14:38,520
Speaker 4: So small steps in the right direction. If we had time,

335
00:14:38,680 --> 00:14:40,560
Speaker 4: I would go on around about how I don't believe

336
00:14:40,560 --> 00:14:41,560
Speaker 4: that twelve percent.

337
00:14:41,360 --> 00:14:43,080
Speaker 2: Is enough, But we're not going to do that today.

338
00:14:43,120 --> 00:14:45,600
Speaker 4: We are celebrating the small wins and that means more

339
00:14:45,600 --> 00:14:49,080
Speaker 4: money in your super. But Jess, it wasn't the only

340
00:14:49,200 --> 00:14:51,680
Speaker 4: change that is going to be happening as of today.

341
00:14:51,760 --> 00:14:52,720
Speaker 4: What is the other one?

342
00:14:52,760 --> 00:14:53,960
Speaker 2: The removal of the threshold.

343
00:14:54,080 --> 00:14:55,520
Speaker 4: But what are you talking about? No one knows what

344
00:14:55,520 --> 00:14:57,000
Speaker 4: you're talking about. No, let me explain.

345
00:14:57,160 --> 00:14:59,880
Speaker 5: So Previously, if you're a low income earner, maybe you're

346
00:15:00,320 --> 00:15:02,920
Speaker 5: one day a week casually, or maybe you're on Central

347
00:15:02,920 --> 00:15:05,520
Speaker 5: Link and you could only work a cetin number of hours. Yeah,

348
00:15:05,600 --> 00:15:08,479
Speaker 5: you weren't entitled super if you were earning less.

349
00:15:08,200 --> 00:15:10,480
Speaker 2: Than four hundred and fifty dollars per month.

350
00:15:10,760 --> 00:15:12,760
Speaker 5: There you go, glad, she's on it. So if you're

351
00:15:12,760 --> 00:15:14,640
Speaker 5: earning four hundred fifty dollars a month less, you ain't

352
00:15:14,640 --> 00:15:17,120
Speaker 5: getting any superannuation, which honestly is just kind of shitty.

353
00:15:17,360 --> 00:15:20,320
Speaker 4: If you ask me, yes, I don't like it at all.

354
00:15:20,560 --> 00:15:23,600
Speaker 4: So from the first of July twenty twenty two, spoiler

355
00:15:23,840 --> 00:15:27,320
Speaker 4: that's today employees can be eligible for the super Guarantee,

356
00:15:27,360 --> 00:15:29,920
Speaker 4: Like that is SG, So on your pay sleep it'll

357
00:15:29,960 --> 00:15:31,880
Speaker 4: say SG. And I feel like I've had that question

358
00:15:31,960 --> 00:15:33,800
Speaker 4: a lot recently. On my DMS. People are like, oh,

359
00:15:33,840 --> 00:15:36,400
Speaker 4: I was just looking at my payslip, what's SG. I'm like, babe,

360
00:15:36,400 --> 00:15:38,720
Speaker 4: that's super guarantee. That's really important. We need to pay

361
00:15:38,720 --> 00:15:41,560
Speaker 4: attention to it. But essentially, you're now going to earn

362
00:15:41,640 --> 00:15:44,400
Speaker 4: SUPER regardless of how much you earn, and that has

363
00:15:44,400 --> 00:15:48,440
Speaker 4: been abolished, which I really like because previously, if you

364
00:15:48,480 --> 00:15:50,400
Speaker 4: worked maybe like I don't know, two days a month

365
00:15:50,400 --> 00:15:53,440
Speaker 4: because you're at UNI, maybe you weren't earning any SUPER

366
00:15:53,520 --> 00:15:55,600
Speaker 4: at all because you were earning less than four hundred

367
00:15:55,640 --> 00:15:59,400
Speaker 4: and fifty dollars, which for an employer, they're like, great money, win,

368
00:15:59,680 --> 00:16:02,560
Speaker 4: don't have to have that cost. But now everybody is

369
00:16:02,560 --> 00:16:05,720
Speaker 4: earning SUPER if you're working full time, except get this,

370
00:16:06,200 --> 00:16:09,160
Speaker 4: except if you are under eighteen, in which case you

371
00:16:09,200 --> 00:16:11,480
Speaker 4: need to work more than thirty hours a week to

372
00:16:11,600 --> 00:16:15,320
Speaker 4: qualify for it. Is that not cool much? Because that's

373
00:16:15,360 --> 00:16:18,120
Speaker 4: always been there, that's not new. I'm just bringing it

374
00:16:18,200 --> 00:16:20,080
Speaker 4: up now because it seems topical and I knew where

375
00:16:20,080 --> 00:16:21,480
Speaker 4: it offend you, so that.

376
00:16:21,640 --> 00:16:25,600
Speaker 5: I find that really counterintuitive, particularly in this instance, because

377
00:16:25,760 --> 00:16:27,720
Speaker 5: more often than not, if you're going to be working

378
00:16:27,960 --> 00:16:29,840
Speaker 5: to earn four hundred and fifty dollars, you're a being

379
00:16:29,840 --> 00:16:32,560
Speaker 5: paid very little and b you're probably not working a

380
00:16:32,560 --> 00:16:35,640
Speaker 5: lot of hours. Those two things together to me, say,

381
00:16:35,680 --> 00:16:36,480
Speaker 5: eighteen year old.

382
00:16:36,480 --> 00:16:39,400
Speaker 4: Can we also just talk about how messed up that

383
00:16:39,680 --> 00:16:43,560
Speaker 4: is just economically, So, like, let's think about it. If

384
00:16:43,600 --> 00:16:45,720
Speaker 4: you're under the age of eighteen, it's very likely that

385
00:16:45,760 --> 00:16:48,520
Speaker 4: you are in full time education, right, So, like, regardless

386
00:16:48,520 --> 00:16:50,480
Speaker 4: of what you're doing, probably still at school because that's

387
00:16:50,520 --> 00:16:52,480
Speaker 4: how the system works, unless you left early to do

388
00:16:52,560 --> 00:16:56,560
Speaker 4: like an apprenticeship or whatever it is. But if you're working,

389
00:16:56,960 --> 00:17:00,600
Speaker 4: you know, twenty five hours a week as a sixteen

390
00:17:00,720 --> 00:17:04,000
Speaker 4: seventeen year old, it might be because you genuinely need

391
00:17:04,000 --> 00:17:07,400
Speaker 4: that money, because you're already financially compromised, Like you might

392
00:17:07,440 --> 00:17:09,560
Speaker 4: have had a hard start to life. You might not

393
00:17:09,640 --> 00:17:11,399
Speaker 4: be in the best position with your family. You might

394
00:17:11,440 --> 00:17:14,440
Speaker 4: be you know, living out of home and you're only

395
00:17:14,480 --> 00:17:16,479
Speaker 4: able to work, you know, twenty nine hours a week

396
00:17:16,520 --> 00:17:18,240
Speaker 4: because you've got school full time.

397
00:17:18,320 --> 00:17:20,480
Speaker 2: And you're not feel a lot. That's twenty so much, Like.

398
00:17:20,480 --> 00:17:22,760
Speaker 4: That is so much, But there are people out there

399
00:17:22,800 --> 00:17:25,680
Speaker 4: where that is their reality. They're not earning super because

400
00:17:25,680 --> 00:17:27,760
Speaker 4: they're under the age of eighteen, and that makes no

401
00:17:27,880 --> 00:17:31,120
Speaker 4: sense to me because they are arguably working harder than

402
00:17:31,160 --> 00:17:34,600
Speaker 4: I am because they're hustling. It really frustrates me that

403
00:17:34,680 --> 00:17:37,960
Speaker 4: there is no need for employers to pay superannuation to

404
00:17:38,000 --> 00:17:40,600
Speaker 4: people under the age of eighteen if they work less

405
00:17:40,640 --> 00:17:43,199
Speaker 4: than thirty hours a week, that's cool, right if you

406
00:17:43,240 --> 00:17:45,960
Speaker 4: start thinking about, like, well, what type of person would

407
00:17:45,960 --> 00:17:48,280
Speaker 4: be under the age of eighteen and working, you know,

408
00:17:48,480 --> 00:17:51,600
Speaker 4: twenty nine thirty hours a week, like it exists because

409
00:17:51,720 --> 00:17:53,760
Speaker 4: they need to put food on their table. Not all

410
00:17:53,760 --> 00:17:56,160
Speaker 4: of us are in the privileged position to live at home,

411
00:17:56,240 --> 00:17:58,400
Speaker 4: have food put on our table, be able to get

412
00:17:58,400 --> 00:18:01,040
Speaker 4: to school and that be a really comfortable existence. Like

413
00:18:01,080 --> 00:18:05,040
Speaker 4: that's not everybody's reality. To me, that's really disadvantageous to

414
00:18:05,080 --> 00:18:08,440
Speaker 4: a lot of people, and we just sometimes don't contextualize

415
00:18:08,440 --> 00:18:09,800
Speaker 4: those things in the way that we should.

416
00:18:10,000 --> 00:18:13,000
Speaker 5: It's hard because they're getting shafted on both sides. Like

417
00:18:13,040 --> 00:18:16,040
Speaker 5: they're getting shafted with the hours thing because they're working

418
00:18:16,080 --> 00:18:19,240
Speaker 5: after work. Yeah, like working thirty hours a month is

419
00:18:19,240 --> 00:18:22,120
Speaker 5: a lot of hours when you're already doing something full

420
00:18:22,119 --> 00:18:24,840
Speaker 5: time like schooling. But then they're also getting shafted in

421
00:18:24,920 --> 00:18:27,560
Speaker 5: terms of like minimum wage when you're under the age

422
00:18:27,600 --> 00:18:29,400
Speaker 5: of eighteen, even under the age of twenty.

423
00:18:29,560 --> 00:18:30,959
Speaker 2: It's cook really.

424
00:18:31,160 --> 00:18:33,600
Speaker 5: I remember when I used to work retail, and I'm

425
00:18:33,880 --> 00:18:36,119
Speaker 5: very blessed that I have never worked for less than

426
00:18:36,119 --> 00:18:38,960
Speaker 5: twenty dollars per hour, and that was purely by accident.

427
00:18:39,480 --> 00:18:41,320
Speaker 5: But I remember when I was working retail and I

428
00:18:41,359 --> 00:18:42,520
Speaker 5: was a little bit older, I would have been like

429
00:18:42,520 --> 00:18:44,520
Speaker 5: maybe twenty two, twenty three. There was a girl who

430
00:18:44,560 --> 00:18:47,240
Speaker 5: worked with us who was sixteen, and I'm pretty sure

431
00:18:47,280 --> 00:18:50,160
Speaker 5: at the time she made like nine dollars an hour,

432
00:18:50,680 --> 00:18:54,600
Speaker 5: and I was like, I genuinely, by the time you

433
00:18:54,640 --> 00:18:56,760
Speaker 5: pay tax, I mean, she probably wouldn't have been paying

434
00:18:56,760 --> 00:18:57,160
Speaker 5: a lot of tax.

435
00:18:57,200 --> 00:18:58,639
Speaker 2: Actually, she would be a working coomeenter.

436
00:18:59,000 --> 00:19:01,480
Speaker 5: But just by the time I remember, she used to

437
00:19:01,720 --> 00:19:03,359
Speaker 5: have to catch the train, so by the time she

438
00:19:03,400 --> 00:19:06,280
Speaker 5: pays for five bucks for her train ticket if she

439
00:19:06,359 --> 00:19:09,480
Speaker 5: worked a three hour shift, she basically hadn't earned any money.

440
00:19:10,280 --> 00:19:13,520
Speaker 6: So I grew up in a pretty high socioeconomic area,

441
00:19:13,680 --> 00:19:16,520
Speaker 6: you could say, down on the Peninsula, and a lot

442
00:19:16,520 --> 00:19:19,240
Speaker 6: of kids in high school. They would work to kind

443
00:19:19,280 --> 00:19:24,640
Speaker 6: of gain a decent work ethic and understand that rather

444
00:19:24,720 --> 00:19:27,240
Speaker 6: than actually to save a lot.

445
00:19:27,560 --> 00:19:29,080
Speaker 2: Yeah, I was the same, right.

446
00:19:29,119 --> 00:19:31,080
Speaker 4: The reason I got my first job was because my

447
00:19:31,119 --> 00:19:33,160
Speaker 4: parents were like, you are fourteen years and nine months old,

448
00:19:33,320 --> 00:19:34,760
Speaker 4: why don't you go and get a job. And my

449
00:19:34,800 --> 00:19:36,560
Speaker 4: first job was, you know, in an ice cream shop,

450
00:19:36,560 --> 00:19:39,040
Speaker 4: and I earned money, and that money was basically spent

451
00:19:39,080 --> 00:19:41,720
Speaker 4: on going to the movies. Guys, if you know, you know,

452
00:19:41,880 --> 00:19:43,720
Speaker 4: you go down to Rosebud, you go to the movies,

453
00:19:43,760 --> 00:19:46,760
Speaker 4: you walk to McDonald's. That was my existence, right, But

454
00:19:47,119 --> 00:19:50,040
Speaker 4: that's a very privileged upbringing where the money that I'm

455
00:19:50,040 --> 00:19:52,920
Speaker 4: earning is you know, frivolous in a way. Like at

456
00:19:52,920 --> 00:19:55,480
Speaker 4: that point in time, my dad was trying very hard

457
00:19:55,520 --> 00:19:57,600
Speaker 4: to teach me the value of money, but I was

458
00:19:57,640 --> 00:20:00,560
Speaker 4: not listening because I didn't I'm not going to say

459
00:20:00,560 --> 00:20:02,440
Speaker 4: I didn't need to. I absolutely did, but I didn't

460
00:20:02,440 --> 00:20:05,280
Speaker 4: feel like I needed to. Right, Like, earning that money

461
00:20:05,720 --> 00:20:08,639
Speaker 4: not the same whereas Jess, you moved out when you

462
00:20:08,680 --> 00:20:11,320
Speaker 4: were pretty young and were completely self sufficient, so it

463
00:20:11,440 --> 00:20:14,800
Speaker 4: might be a very different story when you know, when

464
00:20:14,840 --> 00:20:18,720
Speaker 4: you're actually forced to provide for yourself right and as

465
00:20:18,760 --> 00:20:22,720
Speaker 4: a human right at an evolutionary level, it's not actually

466
00:20:22,760 --> 00:20:26,159
Speaker 4: all that normal to put yourself in somebody else's shoes

467
00:20:26,200 --> 00:20:27,920
Speaker 4: because it's got nothing to do with fight or flight

468
00:20:28,000 --> 00:20:31,280
Speaker 4: or survival, right, Like I have no need, literally, if

469
00:20:31,320 --> 00:20:34,879
Speaker 4: we're talking about psychologically and on an evolutionary level, I

470
00:20:34,920 --> 00:20:36,639
Speaker 4: have no need to put myself in your shoes, George,

471
00:20:37,000 --> 00:20:40,159
Speaker 4: literally none. It doesn't benefit me at all. Now in

472
00:20:40,200 --> 00:20:43,720
Speaker 4: twenty twenty three, absolutely it does. But you know, Aspace,

473
00:20:43,760 --> 00:20:45,600
Speaker 4: we just don't think that way. So I think it's

474
00:20:45,600 --> 00:20:48,000
Speaker 4: really important to call those things out and be like, wow,

475
00:20:48,080 --> 00:20:51,320
Speaker 4: like we're so privileged. Like I'm the same I grew

476
00:20:51,359 --> 00:20:54,159
Speaker 4: up in exactly the same area you did, George. But

477
00:20:54,720 --> 00:20:58,640
Speaker 4: growing up I also had some friends who were working

478
00:20:58,720 --> 00:21:01,639
Speaker 4: because their parents weren't supporting them in the way that

479
00:21:01,680 --> 00:21:04,600
Speaker 4: my parents were supporting me, And they actually were helping

480
00:21:04,600 --> 00:21:06,920
Speaker 4: to pay the rent and they were putting food on

481
00:21:06,960 --> 00:21:09,360
Speaker 4: the table for their families because they just didn't have

482
00:21:09,400 --> 00:21:11,800
Speaker 4: that level of privilege that I had. And I just

483
00:21:12,119 --> 00:21:14,680
Speaker 4: it blows my mind. And as we've been talking, I've

484
00:21:14,720 --> 00:21:18,200
Speaker 4: just looked up the Fairwork Omensman Guide for and I've

485
00:21:18,240 --> 00:21:20,199
Speaker 4: just looked up fast food industry because I feel like

486
00:21:20,240 --> 00:21:22,600
Speaker 4: that's a really pretty easy it's pretty standard as a

487
00:21:22,720 --> 00:21:26,200
Speaker 4: you know, sixteen year old. If you are a junior,

488
00:21:26,400 --> 00:21:28,919
Speaker 4: you're a full timer or a part timer. Under the

489
00:21:28,960 --> 00:21:32,080
Speaker 4: age of sixteen, your hourly pay rate at a level one.

490
00:21:32,280 --> 00:21:34,400
Speaker 4: Not sure what that is, but level one is eight

491
00:21:34,400 --> 00:21:36,320
Speaker 4: dollars seventy one in twenty twenty two.

492
00:21:36,560 --> 00:21:38,720
Speaker 2: That's crazy, someone buy you a meal?

493
00:21:38,920 --> 00:21:41,960
Speaker 4: So what No, then one, there's like different levels, right,

494
00:21:42,000 --> 00:21:44,520
Speaker 4: so we'll skip to level three. Level three has like

495
00:21:44,520 --> 00:21:47,159
Speaker 4: a little categorization. It says level three in charge of

496
00:21:47,200 --> 00:21:50,159
Speaker 4: two or more persons. Your hourly pay rate if you

497
00:21:50,160 --> 00:21:52,760
Speaker 4: are under the age of sixteen is nine dollars forty nine.

498
00:21:52,800 --> 00:21:55,040
Speaker 5: So if you're managing people, you get not even a

499
00:21:55,040 --> 00:21:56,640
Speaker 5: full extra dollar, not even a.

500
00:21:56,600 --> 00:21:57,520
Speaker 2: Full extra dollar.

501
00:21:58,080 --> 00:22:01,480
Speaker 4: Like that to me is insane because if you're needing

502
00:22:01,520 --> 00:22:05,639
Speaker 4: to rely on that income, you're just you're already behind,

503
00:22:06,119 --> 00:22:10,080
Speaker 4: Like you're literally already behind. Don't worry though, the second

504
00:22:10,119 --> 00:22:13,479
Speaker 4: to sixteen you're a level one ten dollars eighty nine.

505
00:22:14,000 --> 00:22:17,199
Speaker 4: Like that's still so low in comparison to what we

506
00:22:17,280 --> 00:22:20,399
Speaker 4: call the minimum wage in Australia, which is categorized in

507
00:22:20,560 --> 00:22:23,920
Speaker 4: this as being quote an adult. So I don't know

508
00:22:24,080 --> 00:22:26,399
Speaker 4: what this means or how this works, but I just

509
00:22:26,560 --> 00:22:28,080
Speaker 4: I think you should be paid for the work that

510
00:22:28,119 --> 00:22:30,760
Speaker 4: you're doing. And if George is doing exactly the same

511
00:22:30,840 --> 00:22:33,960
Speaker 4: job as me, does it matter that George's sixteen and

512
00:22:34,000 --> 00:22:36,600
Speaker 4: I'm twenty five, Like, why should a twenty five year

513
00:22:36,600 --> 00:22:38,600
Speaker 4: old be paid more for exactly the same thing.

514
00:22:38,840 --> 00:22:40,680
Speaker 5: Yeah, I think it's interesting to bring it back around

515
00:22:40,680 --> 00:22:42,640
Speaker 5: to where we were at with Super. I think it's

516
00:22:42,640 --> 00:22:45,399
Speaker 5: a little bit disappointing to think about because I reflect

517
00:22:45,440 --> 00:22:46,679
Speaker 5: on when I was younger and same as you. I

518
00:22:46,720 --> 00:22:48,960
Speaker 5: got a job at fourteen and nine months, and I

519
00:22:49,119 --> 00:22:51,639
Speaker 5: worked two days a week on the weekends, and I

520
00:22:51,680 --> 00:22:53,400
Speaker 5: worked pretty long days, Like I think I was doing

521
00:22:53,440 --> 00:22:55,280
Speaker 5: like decent, like eight or so hour Dawn.

522
00:22:55,280 --> 00:22:57,840
Speaker 2: I'm not surprised because you're a hustler. You wouldn't like

523
00:22:57,920 --> 00:22:59,080
Speaker 2: that money from me one hundred percent.

524
00:22:59,080 --> 00:23:01,800
Speaker 5: I liked the money, But like the thing ultimately is,

525
00:23:01,800 --> 00:23:04,040
Speaker 5: I look back on it and I go, I actually

526
00:23:04,040 --> 00:23:06,119
Speaker 5: don't know that I would have been earning super. And

527
00:23:06,119 --> 00:23:08,080
Speaker 5: I think about this sometimes because I look at my

528
00:23:08,200 --> 00:23:10,840
Speaker 5: super balance and I go, I feel like it's not

529
00:23:10,880 --> 00:23:13,120
Speaker 5: as high as I would have thought given how long

530
00:23:13,119 --> 00:23:14,320
Speaker 5: I've been working for.

531
00:23:14,640 --> 00:23:15,760
Speaker 2: And it's probably two things.

532
00:23:15,760 --> 00:23:17,880
Speaker 5: It's partially because I had multiple accounts when I was younger,

533
00:23:17,880 --> 00:23:20,639
Speaker 5: and the fees probably aided away, but also I guess

534
00:23:20,680 --> 00:23:23,439
Speaker 5: a really significant chunk of my working life, like what

535
00:23:23,600 --> 00:23:26,960
Speaker 5: was it under eighteen? Right, Yeah, so four years or

536
00:23:27,119 --> 00:23:29,240
Speaker 5: like three and a bit years of my working life

537
00:23:29,280 --> 00:23:32,080
Speaker 5: I wasn't earning super most likely because I wouldn't have

538
00:23:32,119 --> 00:23:35,680
Speaker 5: been meeting necessarily the threshold for the hours. And that's

539
00:23:35,720 --> 00:23:38,199
Speaker 5: just kind of frustrating because you go, you're putting in

540
00:23:38,240 --> 00:23:41,479
Speaker 5: the time, you're working hard, you're doing the hours, but

541
00:23:41,520 --> 00:23:44,520
Speaker 5: you're not necessarily getting all of the benefits just because

542
00:23:44,560 --> 00:23:46,840
Speaker 5: you're a little bit younger. But then you're doing such

543
00:23:46,840 --> 00:23:49,080
Speaker 5: a great thing by going out and getting a job

544
00:23:49,119 --> 00:23:50,360
Speaker 5: and earning money.

545
00:23:50,119 --> 00:23:51,760
Speaker 6: And I just feel like it's not to be paid

546
00:23:51,800 --> 00:23:54,600
Speaker 6: for the work you're doing exactly. But kids aren't going

547
00:23:54,640 --> 00:23:57,520
Speaker 6: to question that either if you said no, like what

548
00:23:57,560 --> 00:23:59,720
Speaker 6: the hell's super when you're fifteen, like you wouldn't you know?

549
00:23:59,880 --> 00:24:01,679
Speaker 2: No, I filed out a new form every time I

550
00:24:01,680 --> 00:24:02,160
Speaker 2: got a job.

551
00:24:02,200 --> 00:24:05,240
Speaker 6: Another piece of this puzzle in terms of not paying

552
00:24:05,359 --> 00:24:08,560
Speaker 6: underage people the super that they certainly deserve, is that

553
00:24:09,080 --> 00:24:11,960
Speaker 6: it kind of sets them up at a very early

554
00:24:12,080 --> 00:24:16,080
Speaker 6: age to be exploited and kind of expect that from

555
00:24:16,840 --> 00:24:20,120
Speaker 6: places of authority. It's not okay. And that would also

556
00:24:20,160 --> 00:24:21,800
Speaker 6: have an impact on your money story, which we talk

557
00:24:21,840 --> 00:24:23,960
Speaker 6: about all the time. And she's on the money and

558
00:24:24,400 --> 00:24:26,880
Speaker 6: I don't know, I think that's something that really needs

559
00:24:26,920 --> 00:24:27,560
Speaker 6: to be addressed.

560
00:24:27,600 --> 00:24:29,879
Speaker 2: I can't believe. Yeah, I've just never thinking about it.

561
00:24:29,960 --> 00:24:31,399
Speaker 5: I didn't know this and yeah, like it's kind of

562
00:24:31,400 --> 00:24:33,240
Speaker 5: like when you tick over eighteen and now you are

563
00:24:33,240 --> 00:24:35,439
Speaker 5: eating super. Yeah, because it's not something you've ever had

564
00:24:35,440 --> 00:24:38,480
Speaker 5: to think about before, you might not necessarily comprehended that

565
00:24:38,520 --> 00:24:40,119
Speaker 5: it should be there. And we've seen stories in the

566
00:24:40,119 --> 00:24:43,920
Speaker 5: Facebook group of people very frequently working at like small

567
00:24:43,920 --> 00:24:47,080
Speaker 5: local businesses or jobs that again you would quite often

568
00:24:47,080 --> 00:24:50,040
Speaker 5: see younger people working and they're like, oh, my boss

569
00:24:50,040 --> 00:24:51,879
Speaker 5: hasn't paid me super in three years? Like can I

570
00:24:51,880 --> 00:24:55,040
Speaker 5: do something about that? And it's like, yeah, Queen, absolutely

571
00:24:55,080 --> 00:24:57,560
Speaker 5: you can, and you should. But you're right, if you

572
00:24:58,000 --> 00:25:00,720
Speaker 5: haven't had that expectation and you haven't been taught the

573
00:25:00,760 --> 00:25:04,119
Speaker 5: value of it because you didn't receive it, how are

574
00:25:04,160 --> 00:25:05,560
Speaker 5: you to know any difference exactly.

575
00:25:05,560 --> 00:25:08,600
Speaker 4: That's why she's on the money exists quite literally because

576
00:25:08,640 --> 00:25:12,040
Speaker 4: not everybody is afforded the same level of financial literacy.

577
00:25:12,359 --> 00:25:14,680
Speaker 4: And I just think that it should be a base, right,

578
00:25:14,720 --> 00:25:16,240
Speaker 4: Like we don't get it in school, and if we're

579
00:25:16,240 --> 00:25:18,840
Speaker 4: not getting it in school, some of us are privileged

580
00:25:18,920 --> 00:25:19,520
Speaker 4: enough to get.

581
00:25:19,400 --> 00:25:19,960
Speaker 2: It at home.

582
00:25:20,000 --> 00:25:21,800
Speaker 4: And if we're not getting at home, maybe we are

583
00:25:21,880 --> 00:25:25,040
Speaker 4: lucky enough to be surrounded by people in our friendship

584
00:25:25,040 --> 00:25:27,280
Speaker 4: groups that teach us or that we learn from their

585
00:25:27,320 --> 00:25:29,240
Speaker 4: parents or whatever it is. Or maybe you get a

586
00:25:29,280 --> 00:25:32,200
Speaker 4: good part time job and your boss actually goes, hey, Jess,

587
00:25:32,200 --> 00:25:35,399
Speaker 4: you probably should be xiz or whatever it is. But

588
00:25:35,800 --> 00:25:38,520
Speaker 4: not all of us are afforded financial literacy, which to

589
00:25:38,600 --> 00:25:42,000
Speaker 4: me seems wild because, as you said, it opens you

590
00:25:42,119 --> 00:25:45,440
Speaker 4: up for exploitation later down the track, and like nobody

591
00:25:45,480 --> 00:25:47,960
Speaker 4: deserves that, Like if you think about it, like, hey,

592
00:25:48,160 --> 00:25:51,360
Speaker 4: we're actually putting people and children in a position where

593
00:25:51,400 --> 00:25:53,560
Speaker 4: they're going to be exploited hard no from me, Wow,

594
00:25:53,600 --> 00:25:55,440
Speaker 4: this conversation really took a turn from where I thought

595
00:25:55,520 --> 00:25:57,320
Speaker 4: it was going to go. But to summarize, and a

596
00:25:57,400 --> 00:25:59,960
Speaker 4: financial year is exciting because we're taking steps in the

597
00:26:00,080 --> 00:26:00,560
Speaker 4: right direction.

598
00:26:01,080 --> 00:26:04,000
Speaker 5: More superhation. Make sure you check with your employer, make

599
00:26:04,040 --> 00:26:06,680
Speaker 5: sure you watch you're super, and ensure that that's happening.

600
00:26:06,880 --> 00:26:09,480
Speaker 4: It is a lot like I'm so I always say

601
00:26:09,480 --> 00:26:12,680
Speaker 4: wildly passionate, but I am wildly passionate, like go check

602
00:26:12,720 --> 00:26:15,000
Speaker 4: your super. And this opens the conversation up to the

603
00:26:15,040 --> 00:26:17,760
Speaker 4: conversation I was having earlier today with a friend that

604
00:26:17,840 --> 00:26:19,840
Speaker 4: I went and had a coffee with. We're doing some

605
00:26:19,880 --> 00:26:22,280
Speaker 4: financial advice stuff, and they were talking about how one

606
00:26:22,280 --> 00:26:25,159
Speaker 4: of their friends didn't realize they weren't being paid their SUPER,

607
00:26:26,080 --> 00:26:28,359
Speaker 4: and they assumed that their super was being paid because

608
00:26:28,359 --> 00:26:30,679
Speaker 4: it was on their pay slip. But you actually have

609
00:26:30,800 --> 00:26:33,840
Speaker 4: to sign into your super fun to double check that.

610
00:26:33,960 --> 00:26:36,960
Speaker 4: It's just like kind of a record of bookkeeping your

611
00:26:37,000 --> 00:26:39,320
Speaker 4: pay slip for super, right like, it doesn't mean it's

612
00:26:39,359 --> 00:26:42,119
Speaker 4: been paid. And a lot of businesses, like my business,

613
00:26:42,240 --> 00:26:45,399
Speaker 4: pays super quarterly, so every quarter or every three months

614
00:26:45,440 --> 00:26:47,440
Speaker 4: we do a big super run and we get that done.

615
00:26:47,840 --> 00:26:50,639
Speaker 4: But if you haven't been paid super now, end of

616
00:26:50,680 --> 00:26:52,800
Speaker 4: financial year is a very good time to have a

617
00:26:52,840 --> 00:26:55,800
Speaker 4: quick check see what's going on, because there would be

618
00:26:55,840 --> 00:26:58,719
Speaker 4: a super run on June thirty, so it would and

619
00:26:58,800 --> 00:27:00,600
Speaker 4: should be up to date because because you're going to

620
00:27:00,640 --> 00:27:02,879
Speaker 4: do your tax return. So if you haven't checked your

621
00:27:02,920 --> 00:27:05,240
Speaker 4: super in a while, now's the time, shine my friend

622
00:27:05,359 --> 00:27:08,160
Speaker 4: log in. I hope you're bored by it. I hope

623
00:27:08,160 --> 00:27:09,879
Speaker 4: you're like, oh, it's exactly what it should be.

624
00:27:10,040 --> 00:27:10,320
Speaker 2: Great.

625
00:27:10,520 --> 00:27:13,160
Speaker 4: But if it's not, you get to follow up on that,

626
00:27:13,240 --> 00:27:14,880
Speaker 4: and then it's not a few years down the track

627
00:27:14,920 --> 00:27:16,560
Speaker 4: where you're like, hey, I worked for that job.

628
00:27:16,640 --> 00:27:17,439
Speaker 2: I just do.

629
00:27:17,520 --> 00:27:20,199
Speaker 4: I think I made super, but we're not sure, right, Like,

630
00:27:20,480 --> 00:27:23,280
Speaker 4: if I asked you, Jess, you always paid super. I'm

631
00:27:23,280 --> 00:27:25,080
Speaker 4: sure you're like, well, I don't know, Like I never

632
00:27:25,160 --> 00:27:27,560
Speaker 4: checked when I was younger, because I'm exactly the same.

633
00:27:27,960 --> 00:27:29,800
Speaker 4: So I think now's a good time check your super.

634
00:27:29,880 --> 00:27:32,359
Speaker 4: My loves good content piece. We should move off it, though,

635
00:27:32,359 --> 00:27:35,720
Speaker 4: because all we do is talk. Hi.

636
00:27:35,840 --> 00:27:38,600
Speaker 6: There, Have you got a money dilemma you just can't solve?

637
00:27:38,840 --> 00:27:40,879
Speaker 6: The Sheese on the Money Team is here to help.

638
00:27:41,240 --> 00:27:43,879
Speaker 6: Every week, we tackle your dilemmas, both big and small,

639
00:27:44,000 --> 00:27:47,320
Speaker 6: to answer your most burning money, career and life questions.

640
00:27:47,720 --> 00:27:50,120
Speaker 6: To get involved, simply head to our website and leave

641
00:27:50,200 --> 00:27:52,120
Speaker 6: us a quick voice recording, and you may just find

642
00:27:52,160 --> 00:27:54,639
Speaker 6: yourself on the show. Now let's take a listen to

643
00:27:54,640 --> 00:27:55,760
Speaker 6: today's Money Dilemma.

644
00:27:57,359 --> 00:28:01,639
Speaker 7: High ladies love the podcast, listening to it religiously. I

645
00:28:01,680 --> 00:28:04,920
Speaker 7: have a very random question about Finder dot com dot AU.

646
00:28:05,480 --> 00:28:07,280
Speaker 7: Don't know if you know this. What there recently came

647
00:28:07,320 --> 00:28:11,159
Speaker 7: out with an earned functionality. It's basically a cryptocurrency. You

648
00:28:11,320 --> 00:28:14,040
Speaker 7: lend them your savings and they look, you earn four

649
00:28:14,080 --> 00:28:19,200
Speaker 7: point one percent in interest and it's a stable coin.

650
00:28:19,320 --> 00:28:21,720
Speaker 7: But I just want to know what you guys know

651
00:28:21,800 --> 00:28:26,040
Speaker 7: about it, whether you think it's sounds dodgy. I feel

652
00:28:26,040 --> 00:28:29,600
Speaker 7: like no other bank would offer you that amount of

653
00:28:29,640 --> 00:28:33,560
Speaker 7: returns without a huge amount of risk. So I am

654
00:28:33,680 --> 00:28:36,360
Speaker 7: so keen to hear your thoughts on this. Thanks ladies,

655
00:28:36,400 --> 00:28:38,280
Speaker 7: Bye Nasis.

656
00:28:38,520 --> 00:28:40,680
Speaker 2: Not about it, not about it, not about it.

657
00:28:40,840 --> 00:28:44,200
Speaker 4: If you follow me on my personal Instagram account, which

658
00:28:44,680 --> 00:28:47,480
Speaker 4: is not a recommendation, you shouldn't because I go rogue.

659
00:28:47,600 --> 00:28:50,520
Speaker 4: That's why Jess literally took that She's on the Money

660
00:28:50,560 --> 00:28:52,840
Speaker 4: posting ability off me because she was like, you can

661
00:28:52,880 --> 00:28:54,959
Speaker 4: read the comments, you can talk to people in the DMS.

662
00:28:55,160 --> 00:28:58,360
Speaker 4: If you post something, though, I will revoke your access

663
00:28:58,360 --> 00:29:01,400
Speaker 4: to that She's on the Money Instagram because stuff like

664
00:29:01,520 --> 00:29:05,280
Speaker 4: these frustrates the hell out of me? Did you hear

665
00:29:05,360 --> 00:29:08,680
Speaker 4: how that question was phrased? Guys like do you know

666
00:29:08,680 --> 00:29:10,240
Speaker 4: where I'm going with this? I'm looking at you two

667
00:29:10,240 --> 00:29:12,080
Speaker 4: and you're just looking at me blankly. So this has

668
00:29:12,120 --> 00:29:14,120
Speaker 4: been a really good start to this content. Save a

669
00:29:14,200 --> 00:29:18,720
Speaker 4: coin Yet no, no, she said no bank would offer that.

670
00:29:19,280 --> 00:29:23,080
Speaker 4: So what that listener question has told me is she

671
00:29:23,280 --> 00:29:29,360
Speaker 4: is comparing mentally this crypto saving investing option to the

672
00:29:29,440 --> 00:29:31,920
Speaker 4: returns a bank would give you. Those two are not

673
00:29:32,000 --> 00:29:34,640
Speaker 4: the same, Those are not the same asset classes, those

674
00:29:34,680 --> 00:29:38,560
Speaker 4: are not comparable. That's like saying, hey, Jess, should I

675
00:29:38,640 --> 00:29:40,760
Speaker 4: keep my money in a savings account or should I

676
00:29:40,800 --> 00:29:44,000
Speaker 4: buy property? Like those two things are so far from

677
00:29:44,040 --> 00:29:47,240
Speaker 4: each other in being able to generate interest and return

678
00:29:47,560 --> 00:29:49,600
Speaker 4: that they should not be compared. And this goes back

679
00:29:49,640 --> 00:29:51,480
Speaker 4: to the rants I've been on. I don't believe on

680
00:29:51,520 --> 00:29:54,360
Speaker 4: the podcast as yet because I have tried to bite

681
00:29:54,440 --> 00:29:57,720
Speaker 4: my tongue. But that is about deceptive marketing and the

682
00:29:57,800 --> 00:30:00,680
Speaker 4: thing that I went on a rand about on in Instagram,

683
00:30:00,720 --> 00:30:04,400
Speaker 4: which I'm gonna call this it's not true at all.

684
00:30:04,800 --> 00:30:07,480
Speaker 4: I'm hoping it is because I called it out, but

685
00:30:07,560 --> 00:30:09,840
Speaker 4: it's not. It's because you know, I think there have

686
00:30:09,880 --> 00:30:12,120
Speaker 4: been a lot of people that called it out. But

687
00:30:12,400 --> 00:30:17,640
Speaker 4: Finders Earn app used to say earn four point oh

688
00:30:17,680 --> 00:30:21,920
Speaker 4: one percent on your savings, and I got so frustrated

689
00:30:22,000 --> 00:30:24,480
Speaker 4: at that because that leads you down the garden path

690
00:30:24,480 --> 00:30:27,080
Speaker 4: and thinking that's quite safe, right because I earn interest

691
00:30:27,120 --> 00:30:28,880
Speaker 4: on my savings in my bank account, or I could

692
00:30:28,920 --> 00:30:30,480
Speaker 4: just put it in this earn thing like and I

693
00:30:30,520 --> 00:30:33,720
Speaker 4: earn better money or my savings like, No, that's an investment.

694
00:30:34,360 --> 00:30:37,680
Speaker 4: To update that they have changed it to on your capital,

695
00:30:37,840 --> 00:30:40,720
Speaker 4: which I much prefer because it is much clearer that

696
00:30:40,840 --> 00:30:44,360
Speaker 4: it is an investment. But the find to Earn thing

697
00:30:44,440 --> 00:30:46,640
Speaker 4: is an investment. It is not a savings It should

698
00:30:46,720 --> 00:30:49,520
Speaker 4: not be compared to your bank account. And now we

699
00:30:49,600 --> 00:30:52,720
Speaker 4: can talk about its actual product. I don't want you

700
00:30:52,800 --> 00:30:55,640
Speaker 4: guys to think that these things are comparable. I have

701
00:30:55,840 --> 00:30:58,120
Speaker 4: spoken about it on my Instagram again because it's the

702
00:30:58,200 --> 00:31:00,240
Speaker 4: only platform where I can go truly wrote.

703
00:31:00,120 --> 00:31:01,720
Speaker 2: Without being in trouble these days.

704
00:31:02,000 --> 00:31:05,520
Speaker 4: But I spoke about Blossom app, which is a app

705
00:31:05,760 --> 00:31:09,560
Speaker 4: that is an investment app that calls themselves as savings app,

706
00:31:09,600 --> 00:31:11,680
Speaker 4: and that is absolutely not the case. They are not

707
00:31:11,720 --> 00:31:14,000
Speaker 4: a savings app. They are an investment app, but they're

708
00:31:14,040 --> 00:31:17,400
Speaker 4: branding and they're marketing calls themselves a savings app. You've

709
00:31:17,400 --> 00:31:20,480
Speaker 4: probably seen their targeted marketing because it is very she's

710
00:31:20,520 --> 00:31:23,680
Speaker 4: on the money targeted as in the same demographics like

711
00:31:23,800 --> 00:31:26,360
Speaker 4: young millennial women. Not that they are targeting she's on

712
00:31:26,400 --> 00:31:27,960
Speaker 4: the money specifically, but I mean it would be a

713
00:31:27,960 --> 00:31:31,120
Speaker 4: good marketing strategy for them. Right, we've got your audience,

714
00:31:31,520 --> 00:31:33,600
Speaker 4: But then you've also got me being like, no, that's

715
00:31:33,680 --> 00:31:36,120
Speaker 4: deceptive marketing. So I don't know how you feel about that,

716
00:31:36,240 --> 00:31:39,400
Speaker 4: but yeah, I think that the one thing with these

717
00:31:39,480 --> 00:31:42,880
Speaker 4: different earning apps that are coming out recently is that

718
00:31:42,960 --> 00:31:45,960
Speaker 4: their marketing is making you feel more confident and more

719
00:31:46,000 --> 00:31:48,720
Speaker 4: safe because they're using language that makes you think that

720
00:31:48,760 --> 00:31:52,520
Speaker 4: they're savings apps when in reality they're actually investment apps.

721
00:31:52,960 --> 00:31:56,040
Speaker 4: And to segue straight into what the find to Earn

722
00:31:56,080 --> 00:31:59,920
Speaker 4: app is, it's crypto app and they're trying really hard,

723
00:32:00,040 --> 00:32:01,680
Speaker 4: and I'm sure that you know they're gonna bite my

724
00:32:01,680 --> 00:32:04,800
Speaker 4: heads off about this. I'm literally lighting my ability to

725
00:32:04,880 --> 00:32:07,640
Speaker 4: ever be sponsored by a finder up in flames right now,

726
00:32:07,640 --> 00:32:08,160
Speaker 4: and that is.

727
00:32:08,160 --> 00:32:08,840
Speaker 2: Fine by me.

728
00:32:09,640 --> 00:32:13,400
Speaker 4: But they say, oh, stable coin, guys, what's stable coin

729
00:32:14,120 --> 00:32:17,280
Speaker 4: like sounds safe, sound safe, yep, But like there was

730
00:32:17,320 --> 00:32:21,239
Speaker 4: a stable coin crash recently, so like, stable coin is

731
00:32:21,280 --> 00:32:24,760
Speaker 4: not actually that stable. It's just a term used to

732
00:32:24,800 --> 00:32:28,400
Speaker 4: make you feel far more confident in that asset class

733
00:32:28,440 --> 00:32:32,160
Speaker 4: when it's still crypto. So stable coin is usually deemed

734
00:32:32,200 --> 00:32:33,960
Speaker 4: to be more stable because why yes.

735
00:32:34,000 --> 00:32:37,640
Speaker 5: It's essentially a crypto that it tries to attach itself

736
00:32:37,680 --> 00:32:40,000
Speaker 5: to a stable currency, which I think usually is the

737
00:32:40,160 --> 00:32:41,600
Speaker 5: usd or the US dollar.

738
00:32:41,920 --> 00:32:42,120
Speaker 4: Yep.

739
00:32:42,320 --> 00:32:46,240
Speaker 5: So in theory, if you had a thousand of a

740
00:32:46,280 --> 00:32:50,760
Speaker 5: certain stable coin, you can exchange it for one thousand dollars,

741
00:32:50,760 --> 00:32:52,480
Speaker 5: So it's meant to be kind of lack for Like

742
00:32:53,040 --> 00:32:57,120
Speaker 5: that is a very simplified explanation because you know, crypto

743
00:32:57,240 --> 00:33:00,440
Speaker 5: is definitely not my domain. But the idea is that, yeah,

744
00:33:00,480 --> 00:33:03,920
Speaker 5: it's meant to be like the stable you know, currency

745
00:33:04,000 --> 00:33:06,080
Speaker 5: that follows along with a standard, so that if you

746
00:33:06,080 --> 00:33:08,680
Speaker 5: were to exchange back and forth, it would be somewhat

747
00:33:08,880 --> 00:33:09,320
Speaker 5: likeful light.

748
00:33:09,520 --> 00:33:11,520
Speaker 4: Yeah, and a lot of people are a bit more

749
00:33:11,640 --> 00:33:14,920
Speaker 4: drawn to that if they're interested in cryptocurrencies, because they're like,

750
00:33:14,960 --> 00:33:16,880
Speaker 4: all right, it feels a bit more stable, and that's

751
00:33:16,880 --> 00:33:20,240
Speaker 4: where it's got its name from. But remember a couple

752
00:33:20,280 --> 00:33:23,040
Speaker 4: of weeks ago, we're doing Friday Drinks episode and one

753
00:33:23,080 --> 00:33:25,640
Speaker 4: of our you know, money wins was actually not a

754
00:33:25,680 --> 00:33:27,680
Speaker 4: money win, and Jess you called it out. It was

755
00:33:27,760 --> 00:33:30,800
Speaker 4: like Luna if you know, you know, And that's because

756
00:33:30,920 --> 00:33:34,920
Speaker 4: Luna was a quote stable coin, and people invested in

757
00:33:34,960 --> 00:33:36,800
Speaker 4: it and felt really confident. They're like, oh my gosh,

758
00:33:36,880 --> 00:33:40,440
Speaker 4: got into crypto and it crashed completely off the chart's gone,

759
00:33:41,000 --> 00:33:41,720
Speaker 4: completely gone.

760
00:33:41,800 --> 00:33:42,960
Speaker 2: But that was a stable coin.

761
00:33:43,280 --> 00:33:45,800
Speaker 4: So I feel like we still need to be quite

762
00:33:46,600 --> 00:33:50,160
Speaker 4: apprehensive of stable coins because at the end of the day,

763
00:33:50,160 --> 00:33:55,480
Speaker 4: they are a cryptocurrency. Doesn't necessarily mean that cryptocurrency is bad.

764
00:33:55,560 --> 00:33:57,320
Speaker 4: And I think that you guys are probably picking up

765
00:33:57,360 --> 00:34:01,560
Speaker 4: the vibe that cryptocurrency isn't my forte. And the reason

766
00:34:01,600 --> 00:34:04,240
Speaker 4: it's not my forte is not because it's not been

767
00:34:04,280 --> 00:34:07,120
Speaker 4: around long enough and Victoria doesn't understand it. I fully

768
00:34:07,120 --> 00:34:11,680
Speaker 4: comprehend it. But most cryptocurrencies don't have a backing right,

769
00:34:12,040 --> 00:34:14,280
Speaker 4: So if I win, and I always use this example

770
00:34:14,320 --> 00:34:16,360
Speaker 4: and it's not the best example ever, but if I

771
00:34:16,400 --> 00:34:20,280
Speaker 4: go by and NAB share, right, Nab is bank. Behind

772
00:34:20,360 --> 00:34:23,960
Speaker 4: that bank is thousands of employees making those cogs turn,

773
00:34:24,040 --> 00:34:27,560
Speaker 4: and there's marketing division, and there's thousands and thousands, if

774
00:34:27,560 --> 00:34:30,280
Speaker 4: not hundreds of thousands of customers that they look after

775
00:34:30,400 --> 00:34:33,840
Speaker 4: every single day that are committed right, So for NAB

776
00:34:33,960 --> 00:34:37,399
Speaker 4: to go broke would be one very significant and there's

777
00:34:37,440 --> 00:34:39,400
Speaker 4: probably a lot more going on in the economy if

778
00:34:39,440 --> 00:34:42,959
Speaker 4: that actually happens. But two, if they start to go down,

779
00:34:42,960 --> 00:34:45,719
Speaker 4: there's lots of like fail safes and things they could do,

780
00:34:45,800 --> 00:34:47,960
Speaker 4: and there's some savings in that bank that they could

781
00:34:48,080 --> 00:34:50,759
Speaker 4: use to pay their employees and make sure that your

782
00:34:50,760 --> 00:34:55,880
Speaker 4: share price doesn't completely plummet. There is no backing with cryptocurrencies,

783
00:34:56,040 --> 00:34:59,560
Speaker 4: there's no employees, there's no business that actually turns and

784
00:34:59,640 --> 00:35:02,800
Speaker 4: cogs that is in the background. It is actually really

785
00:35:02,920 --> 00:35:06,080
Speaker 4: risky because today it could exist and tomorrow it could

786
00:35:06,120 --> 00:35:09,960
Speaker 4: completely disappear and well, your money's gone, Like there's nobody

787
00:35:10,000 --> 00:35:12,719
Speaker 4: to chase, there's nobody to follow. And for me, that's

788
00:35:12,760 --> 00:35:15,640
Speaker 4: why I'm a little bit more apprehensive of these things.

789
00:35:16,200 --> 00:35:18,640
Speaker 4: I'm very positive on it. I want to learn more.

790
00:35:18,719 --> 00:35:21,040
Speaker 4: I want to in the future be like, okay, cool,

791
00:35:21,040 --> 00:35:23,680
Speaker 4: like this is an investment asset that I can advise on.

792
00:35:24,040 --> 00:35:26,800
Speaker 4: But in Australia right now, it is not an asset

793
00:35:26,840 --> 00:35:30,400
Speaker 4: class that is legislated is not an asset class that

794
00:35:30,520 --> 00:35:35,280
Speaker 4: is recognized for financial advisors to even advise on. So therefore,

795
00:35:35,280 --> 00:35:38,000
Speaker 4: I'm like, why would I use the shehese on the

796
00:35:38,040 --> 00:35:41,439
Speaker 4: money platform to promote an asset class that is far

797
00:35:41,640 --> 00:35:44,719
Speaker 4: riskier than any other asset class that could put you

798
00:35:44,760 --> 00:35:46,800
Speaker 4: in the best possible position to create wealth.

799
00:35:47,200 --> 00:35:50,800
Speaker 5: And I think that's the primary difference between I guess

800
00:35:50,800 --> 00:35:53,200
Speaker 5: that you know the bank or the savings app and

801
00:35:53,280 --> 00:35:57,440
Speaker 5: something that is investing, particularly in stable coin, because cryptocurrency

802
00:35:57,600 --> 00:36:01,760
Speaker 5: isn't regulated and banks are regulated. There are laws in place,

803
00:36:01,960 --> 00:36:06,439
Speaker 5: and as you said, fail safes, stable coins theoretically aim

804
00:36:06,520 --> 00:36:09,279
Speaker 5: to back their coins up with hard assets. Yeah, so

805
00:36:09,880 --> 00:36:13,839
Speaker 5: dollars or gold or treasuries. But that is a theoretical

806
00:36:13,920 --> 00:36:17,040
Speaker 5: and there is no regulation or requirement. And we have

807
00:36:17,120 --> 00:36:21,760
Speaker 5: seen that in the past where influencers or people who

808
00:36:21,920 --> 00:36:26,800
Speaker 5: maybe own a cryptocurrency or a cryptocurrency brokerage or something

809
00:36:26,840 --> 00:36:29,880
Speaker 5: like that have promoted and almost pumped and dumped, and

810
00:36:29,920 --> 00:36:31,000
Speaker 5: they've promoted.

811
00:36:30,600 --> 00:36:32,600
Speaker 2: It one hundred percents terrifying.

812
00:36:32,280 --> 00:36:37,040
Speaker 5: Yeah, really elevated the value of that currency, and then

813
00:36:37,200 --> 00:36:40,520
Speaker 5: it sold theirs, it's crashed out and there's been nothing

814
00:36:40,520 --> 00:36:42,360
Speaker 5: to back it up and people have been left with nothing.

815
00:36:42,400 --> 00:36:44,960
Speaker 5: And I think that's probably the biggest thing that I

816
00:36:45,040 --> 00:36:47,799
Speaker 5: personally would keep in mind is that you know, well

817
00:36:47,840 --> 00:36:50,799
Speaker 5: Finder is a legitimate company and I'm sure they're doing

818
00:36:50,840 --> 00:36:53,600
Speaker 5: their due diligence, et cetera, et cetera. There is no

819
00:36:54,160 --> 00:36:58,560
Speaker 5: regulation there in Australia as of yet, and that is

820
00:36:58,600 --> 00:37:02,000
Speaker 5: something that I person you find very scary.

821
00:37:02,239 --> 00:37:05,400
Speaker 4: I absolutely agree, And that's the thing that makes me

822
00:37:05,600 --> 00:37:10,520
Speaker 4: really apprehensive of that asset class because here today, gone tomorrow, Like,

823
00:37:10,600 --> 00:37:13,480
Speaker 4: that's not the type of investment I want my community

824
00:37:13,560 --> 00:37:16,759
Speaker 4: to be making. But it's also interesting, right like you

825
00:37:16,800 --> 00:37:18,360
Speaker 4: see it on money diaries. A lot we'll ask the

826
00:37:18,440 --> 00:37:20,560
Speaker 4: question like do you have any investments? If so, what

827
00:37:20,640 --> 00:37:22,799
Speaker 4: are they? And they'll be like, oh, I'm invested in

828
00:37:22,800 --> 00:37:24,319
Speaker 4: crypto and you'll be like, great, how when?

829
00:37:24,440 --> 00:37:24,680
Speaker 2: Where?

830
00:37:24,760 --> 00:37:24,920
Speaker 1: What?

831
00:37:25,239 --> 00:37:25,520
Speaker 3: You know?

832
00:37:25,719 --> 00:37:28,440
Speaker 4: How does this all work for you? And it's interesting

833
00:37:28,520 --> 00:37:31,840
Speaker 4: to see that that nowadays is a lot of people's

834
00:37:31,880 --> 00:37:35,359
Speaker 4: first investment. But then I'll go what do you think

835
00:37:35,400 --> 00:37:37,320
Speaker 4: of the share market? And they go, oh, it's too risky,

836
00:37:37,360 --> 00:37:40,080
Speaker 4: and I go, but where are you getting this information?

837
00:37:40,280 --> 00:37:42,799
Speaker 4: How does that work? Because you look at the share

838
00:37:42,840 --> 00:37:44,920
Speaker 4: market and you're like, yeah, it can feel really overwhelmeding.

839
00:37:44,960 --> 00:37:48,279
Speaker 4: It can feel like a lot, But why do you

840
00:37:48,440 --> 00:37:51,640
Speaker 4: feel like cryptocurrency is quote the future? And I get

841
00:37:51,680 --> 00:37:53,799
Speaker 4: that there's a lot of media circus around it, but

842
00:37:53,880 --> 00:37:55,560
Speaker 4: I think that that's it, right, Like a lot of

843
00:37:55,560 --> 00:37:58,880
Speaker 4: people are feeling like cryptocurrency is a lot more accessible

844
00:37:58,920 --> 00:38:00,880
Speaker 4: and a lot easier because they're like, oh my gosh,

845
00:38:00,880 --> 00:38:03,279
Speaker 4: but I saw it all on Instagram. My friend's doing it,

846
00:38:03,320 --> 00:38:05,279
Speaker 4: and this is how it's working, and that's how it's working,

847
00:38:05,360 --> 00:38:07,880
Speaker 4: and it just it confuses me a lot because I'm like,

848
00:38:07,960 --> 00:38:10,200
Speaker 4: I get that it could be the future, but the

849
00:38:10,320 --> 00:38:12,600
Speaker 4: risk you need to take with your capital or your

850
00:38:12,640 --> 00:38:16,239
Speaker 4: cash is so significant. Whereas you could go buy blue

851
00:38:16,280 --> 00:38:19,160
Speaker 4: chip stocks and create a future for yourself that is

852
00:38:19,280 --> 00:38:22,239
Speaker 4: arguably far less risky than going, oh, well, I picked

853
00:38:22,320 --> 00:38:23,040
Speaker 4: up a stable coin.

854
00:38:23,160 --> 00:38:24,960
Speaker 2: It's much much less risky than a.

855
00:38:24,920 --> 00:38:28,160
Speaker 4: Normal crypto Like okay, But like, if we get a

856
00:38:28,239 --> 00:38:31,800
Speaker 4: risk return chart out down, the very bottom left corner

857
00:38:32,000 --> 00:38:34,680
Speaker 4: is cash, and then it you know, dots up, and

858
00:38:34,719 --> 00:38:36,840
Speaker 4: then there's property, and then there's the share market, and

859
00:38:36,840 --> 00:38:39,000
Speaker 4: then it just goes off the chart to where crypto

860
00:38:39,080 --> 00:38:42,320
Speaker 4: currency sits like the amount of risk and investor takes

861
00:38:42,360 --> 00:38:45,719
Speaker 4: on by choosing that asset class is so much more

862
00:38:45,760 --> 00:38:49,080
Speaker 4: significant than that of the share market. But so many

863
00:38:49,120 --> 00:38:52,040
Speaker 4: people are more apprehensive of the share market than of crypto.

864
00:38:52,480 --> 00:38:55,160
Speaker 4: And I have a sneaky submission. It's social media.

865
00:38:55,400 --> 00:38:57,560
Speaker 6: Yeah, that's what I was gonna ask, Like, why is

866
00:38:57,600 --> 00:38:59,720
Speaker 6: that where we're at? Because you do you have people

867
00:38:59,840 --> 00:39:02,640
Speaker 6: like my little brother he has a crypto horse. I

868
00:39:02,680 --> 00:39:05,440
Speaker 6: don't know a crypto I don't really know the details.

869
00:39:05,480 --> 00:39:07,200
Speaker 6: I haven't asked him about it, like if he hasn't

870
00:39:07,200 --> 00:39:09,719
Speaker 6: invested in anything else, Like he thinks that crypto is

871
00:39:09,760 --> 00:39:13,360
Speaker 6: as legitimate an investment path as the share market, so

872
00:39:13,480 --> 00:39:14,520
Speaker 6: like what's happening there?

873
00:39:14,640 --> 00:39:18,360
Speaker 4: But then it's not a recognized financial asset in Australia.

874
00:39:18,520 --> 00:39:20,719
Speaker 4: So is that not a thing that would make you

875
00:39:20,800 --> 00:39:24,560
Speaker 4: go alarm bells? Maybe that's not as legit. Like I

876
00:39:24,600 --> 00:39:27,120
Speaker 4: feel like a lot of people know about crypto horses

877
00:39:27,239 --> 00:39:29,399
Speaker 4: sent me like, I an't going to do so much

878
00:39:29,440 --> 00:39:32,279
Speaker 4: research after this next week we'll talk about the crypto horse.

879
00:39:32,600 --> 00:39:35,200
Speaker 4: But I feel like a lot of people have done

880
00:39:35,239 --> 00:39:37,800
Speaker 4: their quote research and they're just googling it and buying

881
00:39:37,840 --> 00:39:39,839
Speaker 4: into it and it's topical, and it's new and it's

882
00:39:39,880 --> 00:39:42,799
Speaker 4: really exciting. It's nothing sexy about a blue chip stock,

883
00:39:42,920 --> 00:39:45,160
Speaker 4: Let's be honest, Like, who wants to go buy West

884
00:39:45,200 --> 00:39:46,759
Speaker 4: Farmers except for me?

885
00:39:47,080 --> 00:39:50,320
Speaker 6: Whereas crypto is quite sexy because of social media, I

886
00:39:50,320 --> 00:39:53,120
Speaker 6: feel like it's quite broish because it's like it's risky but.

887
00:39:53,200 --> 00:39:54,960
Speaker 2: The return is huge.

888
00:39:56,800 --> 00:39:59,719
Speaker 5: I've definitely seen someone on TikTok saying basically this.

889
00:40:00,080 --> 00:40:04,840
Speaker 6: Yeah in that foot Well, I think it's probably worth

890
00:40:04,880 --> 00:40:06,759
Speaker 6: throwing a note in here that we're poking a little

891
00:40:06,760 --> 00:40:07,160
Speaker 6: bit of fun.

892
00:40:07,360 --> 00:40:09,960
Speaker 5: We are, by no means saying that you shouldn't invest

893
00:40:09,960 --> 00:40:12,400
Speaker 5: in crypto, and we're definitely not saying that it is

894
00:40:12,440 --> 00:40:14,959
Speaker 5: a bad thing or a negative thing. We're just trying

895
00:40:15,000 --> 00:40:18,280
Speaker 5: to highlight the risk that is attached to it without

896
00:40:18,280 --> 00:40:21,400
Speaker 5: the regulation. I mean, it absolutely could potentially have a

897
00:40:21,400 --> 00:40:26,080
Speaker 5: place in your portfolio alongside something that is really well diversified,

898
00:40:26,160 --> 00:40:29,759
Speaker 5: if that's something that aligns to your values by all means.

899
00:40:29,960 --> 00:40:32,839
Speaker 4: Just one hundred percent exactly what you're saying. I think

900
00:40:32,920 --> 00:40:36,600
Speaker 4: for me, I actually like summary TLDR of shoes on

901
00:40:36,640 --> 00:40:40,080
Speaker 4: the Money. Victoria Devine does not care at all what

902
00:40:40,120 --> 00:40:42,480
Speaker 4: you spend your money on as long as you're spending

903
00:40:42,480 --> 00:40:45,160
Speaker 4: it in line with your values. Like if you tell me, nave,

904
00:40:45,400 --> 00:40:47,680
Speaker 4: I made a decision. I had all the options on

905
00:40:47,719 --> 00:40:49,560
Speaker 4: the table, and I made the decision that felt right

906
00:40:49,600 --> 00:40:49,799
Speaker 4: for me.

907
00:40:50,040 --> 00:40:50,719
Speaker 2: You do you boo.

908
00:40:50,960 --> 00:40:54,000
Speaker 4: I literally am so happy for you if you want

909
00:40:54,000 --> 00:40:57,799
Speaker 4: to go buy a crypto horse. I am genuinely literally,

910
00:40:57,920 --> 00:41:01,279
Speaker 4: it's no judgment. I'm talking about these things in what

911
00:41:01,360 --> 00:41:03,640
Speaker 4: I would deem to be quite a pragmatic way in

912
00:41:03,640 --> 00:41:06,000
Speaker 4: that I'm like, Okay, cool, let's look at risk versus

913
00:41:06,040 --> 00:41:08,680
Speaker 4: return and how that works. And the thing that from

914
00:41:08,920 --> 00:41:12,520
Speaker 4: my perspective as somebody who has a background in psychology,

915
00:41:12,640 --> 00:41:16,279
Speaker 4: who is a financial advisor, has studied finance and gets to,

916
00:41:16,719 --> 00:41:20,160
Speaker 4: you know, interact with this beautiful community of money minded

917
00:41:20,200 --> 00:41:23,719
Speaker 4: people every single day, I do get quite confused when

918
00:41:23,760 --> 00:41:26,080
Speaker 4: people are like, yeah, I'm happy to invest in crypto,

919
00:41:26,160 --> 00:41:29,120
Speaker 4: but I'm not that keen on the shed market. I'm like, wow,

920
00:41:29,160 --> 00:41:31,120
Speaker 4: I'm really what am I missing?

921
00:41:31,480 --> 00:41:31,560
Speaker 1: Like?

922
00:41:31,719 --> 00:41:32,560
Speaker 2: What am I missing?

923
00:41:32,640 --> 00:41:35,640
Speaker 4: That is making you feel so much more comfortable with

924
00:41:35,719 --> 00:41:38,799
Speaker 4: that than me as a financial advisor looking at it,

925
00:41:38,840 --> 00:41:41,840
Speaker 4: going this is terrifying. And I was at the Financial

926
00:41:41,840 --> 00:41:45,319
Speaker 4: Advisor Innovation summit last week. Last week, na like a

927
00:41:45,360 --> 00:41:49,880
Speaker 4: month ago. Time is absolutely flying. And we did hold

928
00:41:49,920 --> 00:41:53,440
Speaker 4: segments on what cryptocurrency means in this industry and how

929
00:41:53,480 --> 00:41:55,480
Speaker 4: it works and how we can integrate it for our

930
00:41:55,520 --> 00:41:58,239
Speaker 4: clients if they are desperately wanting to have it. There

931
00:41:58,280 --> 00:42:02,120
Speaker 4: are cryptocurrency ETFs and that blows my mind. But it's

932
00:42:02,160 --> 00:42:04,839
Speaker 4: one of those things where I have been at these conferences,

933
00:42:04,920 --> 00:42:07,480
Speaker 4: I am talking to literal industry experts.

934
00:42:07,520 --> 00:42:08,520
Speaker 2: We talked about.

935
00:42:08,320 --> 00:42:11,080
Speaker 4: These things, and I just it still makes me feel

936
00:42:11,120 --> 00:42:13,880
Speaker 4: a little bit uneasy because as much as I'm learning

937
00:42:13,960 --> 00:42:16,919
Speaker 4: as a financial advisor about this asset class, I'm still

938
00:42:17,000 --> 00:42:20,440
Speaker 4: legally not allowed to provide financial advice on it. Does

939
00:42:20,440 --> 00:42:22,200
Speaker 4: I mean, I can't talk about it on a podcast

940
00:42:22,280 --> 00:42:24,560
Speaker 4: and semantically break it down and talk about you know,

941
00:42:24,760 --> 00:42:28,239
Speaker 4: stable coin versus different types of cryptocurrency or lunar or

942
00:42:28,480 --> 00:42:31,400
Speaker 4: you know, whatever is going on in the market. But

943
00:42:31,600 --> 00:42:35,200
Speaker 4: it really does baffle me that people like, oh, yeah,

944
00:42:35,400 --> 00:42:37,920
Speaker 4: I'm happy with crypto, but not with the share market.

945
00:42:38,160 --> 00:42:42,400
Speaker 5: So to swing it back around to this finder platform specifically.

946
00:42:41,920 --> 00:42:45,680
Speaker 2: Yes, sorry for going on another rant. Is what we're

947
00:42:45,680 --> 00:42:46,200
Speaker 2: saying here.

948
00:42:46,760 --> 00:42:50,280
Speaker 5: Ultimately, be very conscious of what you're investing in because

949
00:42:50,520 --> 00:42:52,800
Speaker 5: the comparison that our community member is kind of making

950
00:42:52,800 --> 00:42:56,200
Speaker 5: this dilemma is just really not apples to apples.

951
00:42:56,280 --> 00:42:59,000
Speaker 4: It's definitely not apples to apples. And I'm only picking

952
00:42:59,040 --> 00:43:01,040
Speaker 4: up on the semantics and the way she said, oh,

953
00:43:01,160 --> 00:43:03,239
Speaker 4: bank would never give you that type of return. What

954
00:43:03,280 --> 00:43:06,160
Speaker 4: do you think about it? Well, I think that it

955
00:43:06,280 --> 00:43:08,759
Speaker 4: looks like a very good platform if that is an

956
00:43:08,800 --> 00:43:11,919
Speaker 4: asset class that you want to invest in, Like, it's

957
00:43:12,000 --> 00:43:14,600
Speaker 4: not something that I'd go wow, Victoria recommends it.

958
00:43:14,560 --> 00:43:15,600
Speaker 2: That's not it at all.

959
00:43:15,920 --> 00:43:18,799
Speaker 4: But I think it's interesting because like obviously been through

960
00:43:18,840 --> 00:43:21,960
Speaker 4: the website, cute website, great branding, makes me feel really

961
00:43:22,000 --> 00:43:24,480
Speaker 4: comfortable with it. But let's actually look at that underlying

962
00:43:24,520 --> 00:43:28,520
Speaker 4: asset class, your risk portfolio. We've done an entire episode

963
00:43:28,640 --> 00:43:32,279
Speaker 4: on what your risk portfolio is and what risk you

964
00:43:32,320 --> 00:43:34,359
Speaker 4: would be willing to take on and how that works,

965
00:43:34,400 --> 00:43:36,040
Speaker 4: and I think we really need to go back to

966
00:43:36,120 --> 00:43:41,360
Speaker 4: that because on the website for Finder, it feels really

967
00:43:42,360 --> 00:43:44,719
Speaker 4: is the word palatable or absorbable. I don't know what

968
00:43:44,800 --> 00:43:47,440
Speaker 4: I'm looking for here, but like it's cute, Like their

969
00:43:47,440 --> 00:43:48,359
Speaker 4: app looks really good.

970
00:43:48,400 --> 00:43:50,120
Speaker 2: They're like, what's your capital grow daily?

971
00:43:50,280 --> 00:43:53,799
Speaker 4: No fees that the other like, it feels really accessible

972
00:43:54,560 --> 00:43:57,000
Speaker 4: and I'm all good with that. I feel like they

973
00:43:57,040 --> 00:44:00,960
Speaker 4: have updated their language to be very good. Flips Blossom

974
00:44:01,040 --> 00:44:01,480
Speaker 4: has not.

975
00:44:02,080 --> 00:44:04,440
Speaker 5: One last thing before we wrap, because we've definitely been

976
00:44:04,719 --> 00:44:07,880
Speaker 5: nashering on today after a couple of weeks apart. The

977
00:44:07,920 --> 00:44:10,960
Speaker 5: primary difference that I'm kind of picking up here through

978
00:44:10,960 --> 00:44:14,000
Speaker 5: the marketing, etc. And the let me know if I

979
00:44:14,000 --> 00:44:17,279
Speaker 5: am getting the vibe right, they're guaranteeing that it's not

980
00:44:17,360 --> 00:44:20,800
Speaker 5: a targeted rate, it's we will give you this. However,

981
00:44:20,880 --> 00:44:24,480
Speaker 5: you're getting that because you're taking on significant risk because

982
00:44:24,520 --> 00:44:25,520
Speaker 5: it is crypto.

983
00:44:25,719 --> 00:44:28,759
Speaker 4: Yes, absolutely so, it says, and I'm pretty is the

984
00:44:28,800 --> 00:44:31,480
Speaker 4: word guarantee. I don't know if they guarantee, but they've

985
00:44:31,560 --> 00:44:34,040
Speaker 4: led you down the garden path to feel like that, right, yes,

986
00:44:34,120 --> 00:44:36,279
Speaker 4: yeh okay. So I have read the pds, and on

987
00:44:36,280 --> 00:44:38,839
Speaker 4: the PDS they you know, have obviously said it's really

988
00:44:38,880 --> 00:44:41,080
Speaker 4: important to take in to consider your risk profile and

989
00:44:41,200 --> 00:44:45,160
Speaker 4: roh rah. Very different to a traditional savings account. If

990
00:44:45,200 --> 00:44:48,400
Speaker 4: find a wallet becomes insolvent or subject to hacking or

991
00:44:48,440 --> 00:44:51,920
Speaker 4: some other cybersecurity event, you may incur partial or total

992
00:44:51,920 --> 00:44:55,080
Speaker 4: loss of your capital at the bottom. It says in Australia,

993
00:44:55,239 --> 00:44:58,000
Speaker 4: money you deposit into a savings account is protected by

994
00:44:58,000 --> 00:45:01,440
Speaker 4: the Financial Claims A scheme CS up to two hundred

995
00:45:01,480 --> 00:45:04,759
Speaker 4: and fifty thousand dollars find to earn is not protected

996
00:45:04,760 --> 00:45:08,680
Speaker 4: by the FCS. And then it also says trading and

997
00:45:08,719 --> 00:45:12,520
Speaker 4: holding cryptocurrency has a high level of risk. Cryptocurrency is

998
00:45:12,560 --> 00:45:16,280
Speaker 4: a volatile asset and you can incur losses. Though generally

999
00:45:16,360 --> 00:45:21,120
Speaker 4: less volatile stable coin categories of cryptocurrency carry risk and

1000
00:45:21,239 --> 00:45:25,080
Speaker 4: may lose some or total market value. You should only

1001
00:45:25,120 --> 00:45:29,120
Speaker 4: trade cryptocurrency if you fully understand and agree to the risks.

1002
00:45:29,440 --> 00:45:31,680
Speaker 4: Didn't see that on their stable coin website.

1003
00:45:32,000 --> 00:45:36,239
Speaker 5: No, So is this saying you're lending your money to them? Yes,

1004
00:45:36,760 --> 00:45:39,520
Speaker 5: if the value of your money decreases. So let's say

1005
00:45:39,520 --> 00:45:42,719
Speaker 5: there's another significant crash and my thousand dollars that I

1006
00:45:42,719 --> 00:45:44,600
Speaker 5: put in is now with five hundred. You know you're

1007
00:45:44,600 --> 00:45:47,520
Speaker 5: getting your six point one percent return per annum. At

1008
00:45:47,560 --> 00:45:48,759
Speaker 5: the end of all of this, do I get my

1009
00:45:48,800 --> 00:45:50,879
Speaker 5: thousand dollars back or do I get five hundred dollars back?

1010
00:45:51,040 --> 00:45:53,080
Speaker 4: Well, it depends on when you're pulling it out and

1011
00:45:53,120 --> 00:45:56,839
Speaker 4: how it works. Like it's all about really understanding it.

1012
00:45:56,920 --> 00:46:00,840
Speaker 4: Like so with Finder Earn, you can convert to tud

1013
00:46:01,040 --> 00:46:04,000
Speaker 4: which is the crypto coin that they are purchasing, and

1014
00:46:04,040 --> 00:46:08,560
Speaker 4: then you lend that thad to them. They take all

1015
00:46:08,600 --> 00:46:11,080
Speaker 4: of the profit you get back that six point one

1016
00:46:11,400 --> 00:46:14,399
Speaker 4: unless shit hit that's the fan essentially, and you lose

1017
00:46:14,400 --> 00:46:14,960
Speaker 4: all your money.

1018
00:46:15,600 --> 00:46:16,960
Speaker 2: That doesn't seem like a great deal to me.

1019
00:46:18,160 --> 00:46:20,400
Speaker 4: I'm not that sold on it either, But it's all

1020
00:46:20,440 --> 00:46:22,880
Speaker 4: about marketing and really understanding it. And that's why I

1021
00:46:22,960 --> 00:46:26,560
Speaker 4: really implore everybody to actually read the PDS. I know

1022
00:46:26,600 --> 00:46:29,600
Speaker 4: it's boring, I know it doesn't make sense dm us

1023
00:46:29,640 --> 00:46:32,000
Speaker 4: if you don't get a PDS, because I'll just make

1024
00:46:32,040 --> 00:46:35,360
Speaker 4: an Instagram story set explaining what that part of a

1025
00:46:35,400 --> 00:46:37,960
Speaker 4: PDS means, because I guarantee you're not the only one

1026
00:46:38,000 --> 00:46:41,480
Speaker 4: looking at that particular company. But it all comes down to,

1027
00:46:41,680 --> 00:46:44,440
Speaker 4: as we're saying, marketing. I feel like Finder has done

1028
00:46:44,480 --> 00:46:47,040
Speaker 4: a good job of updating to use the term capital

1029
00:46:47,120 --> 00:46:49,640
Speaker 4: instead of savings, whereas to compare it back to the

1030
00:46:49,680 --> 00:46:52,239
Speaker 4: other business I was talking about, which I've posted about

1031
00:46:52,239 --> 00:46:55,879
Speaker 4: on Instagram before, Blossom, Like if you go to their website,

1032
00:46:56,040 --> 00:46:59,920
Speaker 4: their running headline still says Blossom where your savings go

1033
00:47:00,120 --> 00:47:03,920
Speaker 4: to grow, Like, no, Blossom is an investing app, Like

1034
00:47:04,360 --> 00:47:07,839
Speaker 4: why are we trying to make people feel more comfortable

1035
00:47:08,120 --> 00:47:11,160
Speaker 4: with investing by making it look like savings. It's like

1036
00:47:11,160 --> 00:47:15,080
Speaker 4: a trojan horse, Like I don't want you investing in something.

1037
00:47:15,640 --> 00:47:19,080
Speaker 4: Not saying that Blossom's investing company is bad, I'm saying

1038
00:47:19,120 --> 00:47:22,680
Speaker 4: that the marketing is. But it's about being deceptive and

1039
00:47:22,760 --> 00:47:24,560
Speaker 4: not being deceptive. I mean, if you go to this

1040
00:47:24,600 --> 00:47:27,279
Speaker 4: Blossom website, like, look at this, guys, right, So if

1041
00:47:27,280 --> 00:47:29,359
Speaker 4: you go to the Blossom website, it says where your

1042
00:47:29,400 --> 00:47:31,719
Speaker 4: savings go to grow, And then there's a quote of

1043
00:47:31,719 --> 00:47:33,920
Speaker 4: a current user that says, I was sick of getting

1044
00:47:33,960 --> 00:47:37,640
Speaker 4: screwed on my savings. Blossoms three percent return made getting

1045
00:47:37,640 --> 00:47:41,520
Speaker 4: a home deposit easier. They're making you think that this

1046
00:47:41,760 --> 00:47:47,640
Speaker 4: is absolutely comparable to a government guaranteed savings account, when

1047
00:47:47,680 --> 00:47:50,600
Speaker 4: in reality, this is actually an investment fund, and it's

1048
00:47:50,640 --> 00:47:53,640
Speaker 4: not even a super conservative one at that. Yeah, I

1049
00:47:53,760 --> 00:47:55,880
Speaker 4: just want people to say what they really mean, Like

1050
00:47:55,920 --> 00:47:57,759
Speaker 4: I want to buy a box of cereal and it

1051
00:47:57,760 --> 00:48:00,080
Speaker 4: says coco Pops on the outside, and there's coc He

1052
00:48:00,160 --> 00:48:02,359
Speaker 4: pops on the inside, Like I just want what I'm

1053
00:48:02,360 --> 00:48:02,799
Speaker 4: paying for.

1054
00:48:02,880 --> 00:48:05,320
Speaker 2: Well, that was a big charity.

1055
00:48:05,760 --> 00:48:07,640
Speaker 6: It went lots of places, but that's okay.

1056
00:48:07,680 --> 00:48:08,840
Speaker 2: I learned a lot about crypto.

1057
00:48:09,040 --> 00:48:11,040
Speaker 6: I think it's probably the right time to end.

1058
00:48:11,080 --> 00:48:13,760
Speaker 2: I think it's time to money. It's been a while.

1059
00:48:14,000 --> 00:48:15,960
Speaker 2: All right, boring but important stuff.

1060
00:48:16,040 --> 00:48:16,520
Speaker 4: Let's go.

1061
00:48:16,880 --> 00:48:19,200
Speaker 6: The advice sheet on She's on the Money is general

1062
00:48:19,239 --> 00:48:22,799
Speaker 6: in nature and does not consider your individual circumstances. She's

1063
00:48:22,840 --> 00:48:26,160
Speaker 6: on the Money exists purely for educational purposes and should

1064
00:48:26,239 --> 00:48:28,360
Speaker 6: not be relied upon to make an investment or a

1065
00:48:28,400 --> 00:48:31,960
Speaker 6: financial decision. And we promise Victoria divine and She's on

1066
00:48:32,000 --> 00:48:35,880
Speaker 6: the Money are authorized representatives of in Focused Securities Australia

1067
00:48:36,160 --> 00:48:39,560
Speaker 6: Proprietary Limited ABN four seven zero nine seven seven nine

1068
00:48:39,600 --> 00:48:42,600
Speaker 6: seven zero for on nine APHAICEL two three six five

1069
00:48:42,640 --> 00:48:43,080
Speaker 6: two three.

1070
00:48:43,280 --> 00:48:45,880
Speaker 2: See you on Monday, guys. Bye, guys, it's on the weekend.