1
00:00:00,680 --> 00:00:04,920
Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yr

2
00:00:04,960 --> 00:00:08,680
Speaker 1: the Order KERNI Whoalbury and a waddery woman. And before

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

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

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

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

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

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

9
00:00:30,240 --> 00:00:32,640
Speaker 1: today and lasting impact for tomorrow.

10
00:00:33,320 --> 00:00:34,120
Speaker 2: Let's get into it.

11
00:00:34,800 --> 00:00:47,920
Speaker 3: She's on the Money. She's on the Money.

12
00:00:57,760 --> 00:01:01,040
Speaker 4: Hello and welcomed. She's on the Money podcast for millennials

13
00:01:01,040 --> 00:01:04,840
Speaker 4: who want financial freedom and who love girl Math. No,

14
00:01:04,959 --> 00:01:08,600
Speaker 4: we do not, I personally you love girl math, love

15
00:01:08,640 --> 00:01:10,040
Speaker 4: girl Math. We canceling girl Math.

16
00:01:10,080 --> 00:01:10,440
Speaker 2: Carry on?

17
00:01:10,760 --> 00:01:12,959
Speaker 4: Okay, Well, we'll see by the end of the episode.

18
00:01:13,400 --> 00:01:15,880
Speaker 4: My name, of course is Beckside and with me is

19
00:01:16,080 --> 00:01:17,440
Speaker 4: Victoria Divine.

20
00:01:17,959 --> 00:01:20,520
Speaker 5: Yes, I guess that's as a spoiler of the show.

21
00:01:20,560 --> 00:01:22,800
Speaker 5: Today we are talking about girl math, but in a

22
00:01:22,840 --> 00:01:23,520
Speaker 5: different way.

23
00:01:23,840 --> 00:01:25,280
Speaker 2: My friend Ah.

24
00:01:25,319 --> 00:01:27,880
Speaker 5: Obviously, after the break, we will tell you about how

25
00:01:27,920 --> 00:01:29,920
Speaker 5: to flip the script and make girl math work for

26
00:01:30,000 --> 00:01:33,920
Speaker 5: you and your investment goals. But hmmm, let's start at

27
00:01:33,959 --> 00:01:34,840
Speaker 5: to start, Beck.

28
00:01:34,680 --> 00:01:38,480
Speaker 4: Let's do it. So for the uninitiated, what is girl math?

29
00:01:38,760 --> 00:01:39,520
Speaker 2: Girl math?

30
00:01:39,720 --> 00:01:42,400
Speaker 5: It started as a TikTok trend actually, and it is

31
00:01:42,440 --> 00:01:47,400
Speaker 5: a little strategy for justifying your larger or unnecessary purchases.

32
00:01:47,440 --> 00:01:50,600
Speaker 5: Beck love it so at its core from my perspective,

33
00:01:50,640 --> 00:01:53,200
Speaker 5: because we all have opinions, doesn't mean I need to

34
00:01:53,240 --> 00:01:55,760
Speaker 5: see them. But at its called girl math is a

35
00:01:55,800 --> 00:01:58,680
Speaker 5: send up of the patriarchal stereotype that with it don't

36
00:01:58,760 --> 00:02:01,400
Speaker 5: understand how money works, can't be trusted with it, Beck,

37
00:02:02,040 --> 00:02:04,600
Speaker 5: which obviously is going to rub me the absolute wrong

38
00:02:04,640 --> 00:02:08,480
Speaker 5: way from the shit go. But sometimes jokes can work

39
00:02:08,600 --> 00:02:13,320
Speaker 5: to reinforce stereotypes. And I guess that's why it rubs

40
00:02:13,360 --> 00:02:16,720
Speaker 5: me the wrong way because at its collbec girl math

41
00:02:16,840 --> 00:02:17,440
Speaker 5: is sexist.

42
00:02:17,480 --> 00:02:18,480
Speaker 2: Has all get out.

43
00:02:19,040 --> 00:02:21,920
Speaker 5: Boy math doesn't exist because it's not actually funny, Like

44
00:02:22,320 --> 00:02:22,880
Speaker 5: it's true.

45
00:02:22,919 --> 00:02:23,760
Speaker 2: You know, I said, ha.

46
00:02:23,760 --> 00:02:29,320
Speaker 5: Hah, my husband justifies his golf habit by boymthing it away.

47
00:02:29,560 --> 00:02:32,079
Speaker 5: You'd be like, what that doesn't make sense, But girl

48
00:02:32,080 --> 00:02:35,079
Speaker 5: mouth it's funny because women we're useless at money right,

49
00:02:35,160 --> 00:02:35,919
Speaker 5: were dum dumbs.

50
00:02:36,120 --> 00:02:38,040
Speaker 2: Obviously, as a culture.

51
00:02:37,720 --> 00:02:41,640
Speaker 5: We just accept that men's decisions are inherently valid and reasonable.

52
00:02:41,720 --> 00:02:45,120
Speaker 5: So therefore boymouth it just isn't funny, it's not comedy, effec.

53
00:02:45,440 --> 00:02:48,200
Speaker 5: But the phenomenon of girl mouth really does tell you

54
00:02:48,240 --> 00:02:50,280
Speaker 5: a lot about the interplay between.

55
00:02:50,080 --> 00:02:51,360
Speaker 2: Gender, money, and emotions.

56
00:02:51,760 --> 00:02:54,760
Speaker 5: And I think that that is a really good episode

57
00:02:54,800 --> 00:02:57,480
Speaker 5: for a podcast. So I took the girl math trend

58
00:02:57,480 --> 00:03:00,720
Speaker 5: off TikTok and I popped it in to your ears

59
00:03:00,760 --> 00:03:03,040
Speaker 5: my friends, and I thank you for it personally, and

60
00:03:03,040 --> 00:03:07,400
Speaker 5: I'm sure I think it'll be fun because we've got opinions, beck, I,

61
00:03:07,400 --> 00:03:10,160
Speaker 5: can you give us some examples of girl math? Okay, So,

62
00:03:10,240 --> 00:03:12,760
Speaker 5: if you've got cash back for something, Beck, So you.

63
00:03:12,800 --> 00:03:14,560
Speaker 2: Broke a CRISP fifty.

64
00:03:14,240 --> 00:03:17,040
Speaker 5: Dollars pineapple and they gave you a twenty dollar note pack,

65
00:03:17,120 --> 00:03:19,840
Speaker 5: that cash back free money. Lots of people see it

66
00:03:19,840 --> 00:03:21,800
Speaker 5: that way. If I paid with my credit card and

67
00:03:21,800 --> 00:03:24,520
Speaker 5: then someone gave me cash for their share, I basically

68
00:03:24,560 --> 00:03:29,359
Speaker 5: made money. If my favorite stores got a twenty percent discount, Lululemon,

69
00:03:29,400 --> 00:03:32,240
Speaker 5: cough it up, I'm losing money, Beck if I don't

70
00:03:32,280 --> 00:03:36,240
Speaker 5: buy what I want, because like that's an opportunity since

71
00:03:36,360 --> 00:03:38,760
Speaker 5: me checks out if something costs three hundred and forty

72
00:03:38,800 --> 00:03:40,880
Speaker 5: five dollars, beck, we round it down to three hundred

73
00:03:40,920 --> 00:03:42,240
Speaker 5: dollars when telling our partners.

74
00:03:42,480 --> 00:03:44,560
Speaker 4: Currently, all sounds right up my alley.

75
00:03:44,600 --> 00:03:45,240
Speaker 2: That's girl math.

76
00:03:45,360 --> 00:03:49,760
Speaker 5: Yes's the crux of it, my friend, I really really

77
00:03:49,840 --> 00:03:51,240
Speaker 5: enjoy this, and I think I'm going to really enjoy

78
00:03:51,240 --> 00:03:53,720
Speaker 5: this episode. If it's spicy. It is not even spicy.

79
00:03:53,760 --> 00:03:57,400
Speaker 5: It's me just being mad because I'm like, sit down, Yeah,

80
00:03:57,400 --> 00:04:00,640
Speaker 5: that's fair. So how does the patriarchy play out when

81
00:04:00,640 --> 00:04:02,800
Speaker 5: it comes to what women earn and how we spend

82
00:04:02,840 --> 00:04:05,800
Speaker 5: in our perceptions around managing money? All right, so let's

83
00:04:05,840 --> 00:04:08,960
Speaker 5: start off with the cold hard facts. Australia's national gender

84
00:04:09,000 --> 00:04:13,000
Speaker 5: pay gap right now as of today is thirteen percent steep.

85
00:04:13,280 --> 00:04:16,599
Speaker 5: As of May twenty twenty three, the full time adult

86
00:04:16,720 --> 00:04:21,320
Speaker 5: weekly ordinary time earnings across all industries and all occupations

87
00:04:21,400 --> 00:04:24,960
Speaker 5: was nineteen hundred and thirty eight dollars and thirty cents

88
00:04:25,040 --> 00:04:28,360
Speaker 5: back for men and sixteen hundred and eighty six dollars

89
00:04:28,400 --> 00:04:31,240
Speaker 5: for women. So for every dollar on average that a

90
00:04:31,320 --> 00:04:34,680
Speaker 5: man earns, a woman earns eighty seven cents. That is

91
00:04:34,880 --> 00:04:37,640
Speaker 5: equivalent to two hundred and fifty two dollars thirty less

92
00:04:37,680 --> 00:04:41,320
Speaker 5: each and every single week that women earning comparison to

93
00:04:41,400 --> 00:04:43,520
Speaker 5: men over the course of the year. That adds up

94
00:04:43,520 --> 00:04:47,120
Speaker 5: to thirteen thousand, one hundred and nineteen dollars and sixty cents.

95
00:04:47,160 --> 00:04:51,080
Speaker 5: And if I extrapolate that out, and let's pretend hypothetically,

96
00:04:51,560 --> 00:04:53,840
Speaker 5: if you had an additional two hundred and fifty two

97
00:04:53,880 --> 00:04:57,520
Speaker 5: dollars thirty each and every single week beck to invest,

98
00:04:58,240 --> 00:05:01,280
Speaker 5: you'd be more than a million dollars better off in retirement.

99
00:05:01,440 --> 00:05:02,520
Speaker 2: Wow wow wow wow wow.

100
00:05:02,600 --> 00:05:05,240
Speaker 5: Okay, when you put it like that exactly, and if

101
00:05:05,279 --> 00:05:07,520
Speaker 5: I really wanted to extrapolate it out over the course

102
00:05:07,560 --> 00:05:09,880
Speaker 5: of your lifetime, it's more than six million dollars. So

103
00:05:09,920 --> 00:05:12,880
Speaker 5: that's six million reasons why we need to care a

104
00:05:12,880 --> 00:05:14,520
Speaker 5: lot more about the gender.

105
00:05:14,240 --> 00:05:16,239
Speaker 2: Pay gap, because that's cooked.

106
00:05:16,720 --> 00:05:18,520
Speaker 5: You know what you can do with six million dollars?

107
00:05:18,720 --> 00:05:19,360
Speaker 4: What can you do?

108
00:05:19,640 --> 00:05:21,960
Speaker 5: I can't even tell you because there's just endless amounts

109
00:05:21,960 --> 00:05:23,479
Speaker 5: of things that you could do with that level of

110
00:05:23,520 --> 00:05:28,160
Speaker 5: freedom up absolutely exactly. So we know from our community

111
00:05:28,200 --> 00:05:31,800
Speaker 5: that women have lower financial self efficacy, so the belief

112
00:05:31,800 --> 00:05:34,760
Speaker 5: in their own abilities compared to men, and that's why

113
00:05:34,839 --> 00:05:38,159
Speaker 5: she's on The money exists and yet women, you know

114
00:05:38,160 --> 00:05:41,160
Speaker 5: what we do. We control eighty percent of the consumer

115
00:05:41,279 --> 00:05:44,479
Speaker 5: spend globally. Wow, so we control the money, but we

116
00:05:44,520 --> 00:05:45,480
Speaker 5: don't get to make it.

117
00:05:45,520 --> 00:05:47,240
Speaker 2: What the heck? And true?

118
00:05:47,279 --> 00:05:50,640
Speaker 4: That seems very interesting, Well the heck and I hate it.

119
00:05:50,920 --> 00:05:52,760
Speaker 4: I do hate that. Actually, I see what you're saying.

120
00:05:52,800 --> 00:05:55,520
Speaker 4: I can see where the arroage is coming from. Now, V,

121
00:05:55,720 --> 00:05:58,240
Speaker 4: let's go for a really quick break. And already, oh

122
00:05:58,279 --> 00:06:01,400
Speaker 4: my god, I know, I know, but it's decided we

123
00:06:01,440 --> 00:06:02,960
Speaker 4: will have a look at how to flip the script

124
00:06:03,000 --> 00:06:05,520
Speaker 4: and make girl Math work for your investment goals.

125
00:06:05,720 --> 00:06:06,560
Speaker 2: I'm ready, let's go.

126
00:06:06,760 --> 00:06:12,720
Speaker 4: Let's go. OKAYV, we are back.

127
00:06:12,680 --> 00:06:14,840
Speaker 5: And I'm very excited about this because it's now time

128
00:06:14,920 --> 00:06:15,840
Speaker 5: to flip the script.

129
00:06:15,880 --> 00:06:18,640
Speaker 4: It is, if it even is possible, how can we

130
00:06:18,720 --> 00:06:20,360
Speaker 4: make girl Math work for us?

131
00:06:20,440 --> 00:06:24,120
Speaker 5: All Right? So obviously I'm a bit salty because I

132
00:06:24,160 --> 00:06:27,000
Speaker 5: feel like all these videos are just I don't know,

133
00:06:27,040 --> 00:06:28,640
Speaker 5: you see it, and they're like, oh, I girl math

134
00:06:28,760 --> 00:06:32,120
Speaker 5: my way into this expensive bikini for this holiday that

135
00:06:32,200 --> 00:06:34,160
Speaker 5: I'm going on, and if I buy it now, like

136
00:06:34,200 --> 00:06:36,000
Speaker 5: I'm not spending the money on my holiday, And like

137
00:06:36,000 --> 00:06:37,680
Speaker 5: I could wear it after my holiday, and you just go,

138
00:06:38,200 --> 00:06:40,760
Speaker 5: I know that you will have a better time, you know,

139
00:06:40,960 --> 00:06:43,760
Speaker 5: feeling good about yourself on the holiday. But we don't

140
00:06:43,960 --> 00:06:48,800
Speaker 5: need to actually flush the idea of making sound financial

141
00:06:48,839 --> 00:06:51,360
Speaker 5: decisions down the toilet, Like, Beck, let's just say you're

142
00:06:51,360 --> 00:06:52,800
Speaker 5: going on a holiday and you really want to buy

143
00:06:52,800 --> 00:06:53,200
Speaker 5: a bikini.

144
00:06:53,240 --> 00:06:54,159
Speaker 2: It's two hundred bucks.

145
00:06:54,960 --> 00:06:57,960
Speaker 5: Why don't you just make that decision in a financially

146
00:06:58,000 --> 00:06:59,919
Speaker 5: responsible way, like let's have a look at your by

147
00:07:00,440 --> 00:07:01,800
Speaker 5: can you afford it? And you're like, go, yeah, it

148
00:07:01,839 --> 00:07:03,719
Speaker 5: can be. They go, great, Well, you don't need to

149
00:07:03,839 --> 00:07:07,240
Speaker 5: justify it. You don't need to actually go, oh well, actually,

150
00:07:07,279 --> 00:07:11,000
Speaker 5: ABC and D adds up. So therefore, this bikini technically

151
00:07:11,040 --> 00:07:14,480
Speaker 5: only costs me a dollar, Like there's a lot to it.

152
00:07:14,600 --> 00:07:18,400
Speaker 5: And obviously girl math is a combination of three different principles.

153
00:07:18,440 --> 00:07:20,360
Speaker 5: So the first is cost per war, which we've talked

154
00:07:20,360 --> 00:07:23,440
Speaker 5: about before, because I think that everybody in general should

155
00:07:23,440 --> 00:07:26,040
Speaker 5: be more conscious about what they're purchasing, Like you're wearing

156
00:07:26,040 --> 00:07:29,040
Speaker 5: a real cool brown T shirt today, but like I'm

157
00:07:29,080 --> 00:07:30,640
Speaker 5: sure when you bought it you were like, oh, I'm

158
00:07:30,640 --> 00:07:32,400
Speaker 5: probably going to get a heap of wear out of this.

159
00:07:32,680 --> 00:07:34,440
Speaker 5: Like it's the same as the dress I'm wearing today.

160
00:07:34,440 --> 00:07:37,480
Speaker 5: I'm like, great, Like it's stretchy, it works, it's comfortable.

161
00:07:37,840 --> 00:07:40,080
Speaker 5: I'm going to purchase these because it's going to get

162
00:07:40,120 --> 00:07:41,600
Speaker 5: a lot of wear. I think we should all have

163
00:07:41,720 --> 00:07:44,600
Speaker 5: that cap on when making purchases because it's just the

164
00:07:44,640 --> 00:07:48,720
Speaker 5: financially responsible way to do it. But this concept of

165
00:07:48,960 --> 00:07:51,480
Speaker 5: cost per wear, that is the cost of an item

166
00:07:51,560 --> 00:07:54,520
Speaker 5: divided by how many times you use it. Obviously lower

167
00:07:54,520 --> 00:07:56,840
Speaker 5: is the cost of wear, but girl Math kind of

168
00:07:56,840 --> 00:07:59,560
Speaker 5: takes it to the next level. So like, you know,

169
00:07:59,600 --> 00:08:02,200
Speaker 5: if you're buying a tote bag, obviously you can use

170
00:08:02,240 --> 00:08:05,600
Speaker 5: it for lots of different things. But I think that

171
00:08:05,680 --> 00:08:09,240
Speaker 5: it justifies unnecessary purchases when we put it into the

172
00:08:09,280 --> 00:08:12,160
Speaker 5: girl Math I guess phrase right, or into the girl

173
00:08:12,200 --> 00:08:15,320
Speaker 5: math realm, because you go, Okay, well maybe you did

174
00:08:15,440 --> 00:08:17,760
Speaker 5: need a tote bag and if that's the case, well

175
00:08:17,840 --> 00:08:20,200
Speaker 5: let's justify it and buy one that aligns to your

176
00:08:20,200 --> 00:08:22,240
Speaker 5: budget and your needs and how often you're going to

177
00:08:22,320 --> 00:08:23,960
Speaker 5: use it. And maybe back you don't buy the bright

178
00:08:24,000 --> 00:08:26,200
Speaker 5: red one because you can get less aware out of it,

179
00:08:26,280 --> 00:08:28,240
Speaker 5: like you might not take it to work is often

180
00:08:28,320 --> 00:08:30,800
Speaker 5: because it doesn't match your outfit, maybe a more neutral

181
00:08:30,840 --> 00:08:33,400
Speaker 5: option would work. Yeah, but like if you need to

182
00:08:33,400 --> 00:08:36,120
Speaker 5: buy the tote, it should be in your budget, Like

183
00:08:36,160 --> 00:08:39,120
Speaker 5: it shouldn't be like justified as basically being free because

184
00:08:39,120 --> 00:08:41,079
Speaker 5: I'm going to use it so often, do you know

185
00:08:41,120 --> 00:08:41,560
Speaker 5: what I mean?

186
00:08:41,640 --> 00:08:43,520
Speaker 2: Like, yeah, see, we are smarter than this.

187
00:08:44,200 --> 00:08:47,440
Speaker 5: The second of the three economic principles that I guess

188
00:08:47,760 --> 00:08:49,760
Speaker 5: make up girl Mouth is sunk cost.

189
00:08:50,240 --> 00:08:51,880
Speaker 2: So sunk cost fallacy.

190
00:08:52,480 --> 00:08:54,800
Speaker 5: It means that the money that's been spent can't ever

191
00:08:54,880 --> 00:08:57,920
Speaker 5: be recovered. So basically, if it's left my account, I've

192
00:08:57,920 --> 00:08:58,400
Speaker 5: spent it.

193
00:08:58,400 --> 00:08:58,880
Speaker 2: It's gone.

194
00:08:59,120 --> 00:09:01,000
Speaker 5: So like if you've got to funnd Beck on the

195
00:09:01,040 --> 00:09:03,360
Speaker 5: brown top because you decided you no longer liked it,

196
00:09:03,400 --> 00:09:05,200
Speaker 5: and they paid it out in cash, You're like, that's

197
00:09:05,240 --> 00:09:10,000
Speaker 5: free money, free money, Like that's a really bad terminology. Obviously,

198
00:09:10,120 --> 00:09:13,240
Speaker 5: if you get that money back, it probably should just

199
00:09:13,280 --> 00:09:15,240
Speaker 5: go back into your bank account. But instead you'll go,

200
00:09:15,320 --> 00:09:17,040
Speaker 5: oh my gosh, I'm going to use this for drinks

201
00:09:17,080 --> 00:09:18,839
Speaker 5: on Friday nights. It's free money, and I've got it

202
00:09:18,840 --> 00:09:20,320
Speaker 5: in cash and I've already spent it.

203
00:09:20,800 --> 00:09:21,560
Speaker 2: Does that make sense?

204
00:09:21,600 --> 00:09:24,280
Speaker 4: That makes sense. That sounds very.

205
00:09:23,800 --> 00:09:24,319
Speaker 2: Close to home.

206
00:09:24,520 --> 00:09:27,640
Speaker 5: And I was like the herd concept is prospective costs,

207
00:09:27,800 --> 00:09:30,600
Speaker 5: so that basically translates to future costs that might be

208
00:09:30,640 --> 00:09:33,760
Speaker 5: avoided if you take action today. Okay, so the girl

209
00:09:33,760 --> 00:09:36,160
Speaker 5: math example there is if a coat I want is

210
00:09:36,240 --> 00:09:40,600
Speaker 5: sixty five percent off over summer, because that sometimes happens,

211
00:09:41,080 --> 00:09:43,360
Speaker 5: buying it means that I avoid the future cost of

212
00:09:43,440 --> 00:09:46,040
Speaker 5: waiting until winter when it's back to full price. So

213
00:09:46,120 --> 00:09:50,160
Speaker 5: that's quite smart, yes, But people are justifying purchasing things

214
00:09:50,160 --> 00:09:52,760
Speaker 5: just because they're cheap. Hey, oh my gosh, I'll wear

215
00:09:52,760 --> 00:09:55,040
Speaker 5: this in winter. But then when winter rolls around, you're like,

216
00:09:55,080 --> 00:09:56,000
Speaker 5: that's not in fashion.

217
00:09:56,280 --> 00:09:57,200
Speaker 2: I'm not gonna wear that.

218
00:09:57,320 --> 00:09:58,880
Speaker 5: I just picked that up because it was a good

219
00:09:58,880 --> 00:10:02,200
Speaker 5: brand and because was cheap and full stop, end of story,

220
00:10:02,200 --> 00:10:05,040
Speaker 5: that's it. But like, you're not actually saving yourself any money.

221
00:10:05,360 --> 00:10:08,440
Speaker 4: Yes, it might even be spending more because by the

222
00:10:08,640 --> 00:10:11,240
Speaker 4: time winter comes around again, you've got a whole different

223
00:10:11,280 --> 00:10:12,640
Speaker 4: set of little.

224
00:10:12,760 --> 00:10:15,360
Speaker 2: Exactly, like you might not be into brown T shirts anymore.

225
00:10:15,360 --> 00:10:15,560
Speaker 6: There.

226
00:10:17,440 --> 00:10:21,079
Speaker 5: So I think it's again going back to this idea

227
00:10:21,200 --> 00:10:24,559
Speaker 5: that women aren't smart at money, when we are. At

228
00:10:24,559 --> 00:10:27,960
Speaker 5: the end of the day, everyone can understand money. It's

229
00:10:28,040 --> 00:10:30,520
Speaker 5: literally just a language. You haven't learnt yet if you

230
00:10:30,559 --> 00:10:34,360
Speaker 5: don't get it, Like you speak perfectly fluent English, Beck,

231
00:10:34,960 --> 00:10:36,920
Speaker 5: But do you know what? There are millions of people

232
00:10:36,960 --> 00:10:39,520
Speaker 5: around the world who can't speak English who are learning

233
00:10:39,559 --> 00:10:42,400
Speaker 5: English currently, And you wouldn't expect them to pick up

234
00:10:42,440 --> 00:10:44,719
Speaker 5: my shoes on the money book yesterday and go, oh,

235
00:10:44,720 --> 00:10:47,000
Speaker 5: I totally am able to read this. Yes, they would

236
00:10:47,040 --> 00:10:49,760
Speaker 5: start with the basics of Hi, my name's Beck.

237
00:10:49,920 --> 00:10:51,200
Speaker 2: How are you like? Do you know what I mean?

238
00:10:51,240 --> 00:10:52,640
Speaker 2: When you're learning a new language?

239
00:10:52,640 --> 00:10:54,360
Speaker 4: Where do you start from the top?

240
00:10:54,400 --> 00:10:54,640
Speaker 6: Baby?

241
00:10:54,920 --> 00:10:55,480
Speaker 3: But you like to.

242
00:10:55,559 --> 00:10:58,120
Speaker 5: Start with how to count from one to ten? You

243
00:10:58,120 --> 00:11:01,600
Speaker 5: start with hello, You start with sick phrases, You start

244
00:11:01,640 --> 00:11:04,720
Speaker 5: with how to order a coffee in a different language.

245
00:11:04,760 --> 00:11:07,880
Speaker 5: You don't start with fully understanding what an ETF is

246
00:11:07,920 --> 00:11:09,959
Speaker 5: and the difference between an ETF and a managed fun

247
00:11:10,040 --> 00:11:12,760
Speaker 5: Do you sure? Because that would be overwhelming and ridiculous.

248
00:11:12,920 --> 00:11:15,520
Speaker 5: But somehow we put this pressure on ourselves to fully

249
00:11:15,600 --> 00:11:18,400
Speaker 5: understand that when you don't even know how to run

250
00:11:18,440 --> 00:11:21,240
Speaker 5: a banking and cash flow system for yourself, sure, So like,

251
00:11:21,440 --> 00:11:22,160
Speaker 5: push all of that.

252
00:11:22,160 --> 00:11:22,720
Speaker 2: Off the table.

253
00:11:22,760 --> 00:11:24,719
Speaker 5: Women are not done with money. We just haven't been

254
00:11:24,760 --> 00:11:29,560
Speaker 5: taught exactly right. Fee, I like that that's really so angry. Yeah,

255
00:11:29,640 --> 00:11:31,000
Speaker 5: that was a real bike drop moment.

256
00:11:31,240 --> 00:11:33,400
Speaker 2: Oh thanks, So how to pick up the mic again?

257
00:11:33,400 --> 00:11:34,360
Speaker 2: We're not done this podcast?

258
00:11:34,480 --> 00:11:34,640
Speaker 1: Sure?

259
00:11:34,640 --> 00:11:35,720
Speaker 4: Actually does pep that back up?

260
00:11:35,800 --> 00:11:36,520
Speaker 2: Don't drop that?

261
00:11:36,720 --> 00:11:38,720
Speaker 4: How can we flip the script on girl Math and

262
00:11:38,720 --> 00:11:41,520
Speaker 4: make it genuinely work for us to support our investment goal?

263
00:11:41,800 --> 00:11:45,440
Speaker 5: Genius or I think it's genius. But if you can

264
00:11:45,480 --> 00:11:48,120
Speaker 5: budget for a late you best believe that. The entire

265
00:11:48,160 --> 00:11:49,960
Speaker 5: time I was in the US, I was drinking my

266
00:11:50,559 --> 00:11:54,200
Speaker 5: iced oat milk pumpkin spice latte every single day and

267
00:11:54,240 --> 00:11:56,160
Speaker 5: I basically girl Math my way there. I'm like, it's

268
00:11:56,160 --> 00:11:58,880
Speaker 5: a little treaty treat because I deserve it, right tot, Yes,

269
00:11:58,960 --> 00:12:01,080
Speaker 5: it's the thing in Australia. I knew you were gonna

270
00:12:01,080 --> 00:12:03,720
Speaker 5: ask you because Starbucks is here and they do do

271
00:12:03,760 --> 00:12:05,880
Speaker 5: the pumpkin spice range. I don't know if it's shop

272
00:12:05,920 --> 00:12:07,920
Speaker 5: now it's November, because it only was like, you know,

273
00:12:08,040 --> 00:12:09,800
Speaker 5: kind of full kind of Halloween.

274
00:12:10,760 --> 00:12:12,240
Speaker 2: But it's really good.

275
00:12:12,480 --> 00:12:15,440
Speaker 5: But if you can go on Math your way and

276
00:12:15,480 --> 00:12:18,800
Speaker 5: you can budget for a latte, you can budget to invest. Yes,

277
00:12:18,880 --> 00:12:21,720
Speaker 5: if you can afford to buy a shakeaway coffee, I

278
00:12:21,800 --> 00:12:24,840
Speaker 5: promise you can afford to invest and you can become

279
00:12:24,880 --> 00:12:25,800
Speaker 5: a passive investor.

280
00:12:25,880 --> 00:12:27,240
Speaker 2: You don't have to be super active.

281
00:12:27,240 --> 00:12:28,760
Speaker 5: You don't have to be a share trader at your

282
00:12:28,760 --> 00:12:32,520
Speaker 5: computer till all hours of the night. My friend, that's good. Snow, actually,

283
00:12:33,200 --> 00:12:35,960
Speaker 5: so explain this to me. What is passive investing really?

284
00:12:36,040 --> 00:12:37,480
Speaker 2: Sexy? Sit down?

285
00:12:37,679 --> 00:12:38,199
Speaker 5: Are you ready?

286
00:12:38,240 --> 00:12:38,720
Speaker 4: I'm ready.

287
00:12:38,760 --> 00:12:42,720
Speaker 5: It's this concept where you invest consistently but you don't

288
00:12:42,800 --> 00:12:48,040
Speaker 5: have to actively manage your investments. Yes, I know, it's

289
00:12:48,080 --> 00:12:50,680
Speaker 5: mainly how I invest when I'm not being a little

290
00:12:50,679 --> 00:12:54,440
Speaker 5: bit spicy, but it's picking an investment that might be

291
00:12:54,480 --> 00:12:56,920
Speaker 5: an ETF for a managed fund or something that you

292
00:12:57,000 --> 00:12:59,400
Speaker 5: don't have to actively manage because someone else is doing

293
00:12:59,440 --> 00:13:02,520
Speaker 5: it on your Bhe great, ten out of ten. But

294
00:13:02,600 --> 00:13:05,040
Speaker 5: the idea would be that each and every single month,

295
00:13:05,280 --> 00:13:07,920
Speaker 5: you would just dump a certain amount into an investment

296
00:13:08,280 --> 00:13:10,320
Speaker 5: and it just goes straight in there and does its

297
00:13:10,360 --> 00:13:14,120
Speaker 5: thing and creates your wealth. And if you have decided

298
00:13:14,160 --> 00:13:16,160
Speaker 5: to reinvest your dividends, you would have ticked a box

299
00:13:16,160 --> 00:13:19,199
Speaker 5: to say, dividend reinvestment plan please tick, which is coming

300
00:13:19,200 --> 00:13:22,320
Speaker 5: on shares's actually, which is very very exciting, But you

301
00:13:22,320 --> 00:13:25,080
Speaker 5: would tick that box. The money that your money makes

302
00:13:25,360 --> 00:13:27,559
Speaker 5: would then be reinvested to make more money, and you

303
00:13:27,600 --> 00:13:28,720
Speaker 5: don't have to do anything.

304
00:13:29,280 --> 00:13:30,959
Speaker 2: You just get sent a little report.

305
00:13:31,240 --> 00:13:34,120
Speaker 5: Come accounting time, come, you know, end of financial year,

306
00:13:34,440 --> 00:13:36,480
Speaker 5: and your accountant's like, oh, can I have that report

307
00:13:36,480 --> 00:13:38,199
Speaker 5: that your shared trading platform gave you? And you're like, you,

308
00:13:38,360 --> 00:13:40,760
Speaker 5: no worries, So it's just in my emails. Wow, I'm

309
00:13:40,760 --> 00:13:41,280
Speaker 5: an investor.

310
00:13:41,320 --> 00:13:42,040
Speaker 4: Now there you go.

311
00:13:42,200 --> 00:13:42,960
Speaker 2: I'm a big dog.

312
00:13:44,120 --> 00:13:46,720
Speaker 4: Can we learn anything from cost per wear calculation?

313
00:13:47,440 --> 00:13:49,760
Speaker 5: I mean yeah, you could calculate the cost per war

314
00:13:49,840 --> 00:13:53,120
Speaker 5: and then you could calculate compound interest. So like if

315
00:13:53,200 --> 00:13:56,440
Speaker 5: you invested a dollar today, Obviously it's not that sexy

316
00:13:56,480 --> 00:13:59,079
Speaker 5: to think about because you're like, eh, tomorrow, i'll check.

317
00:13:59,160 --> 00:14:01,679
Speaker 5: But what would that look like if you invested a

318
00:14:01,760 --> 00:14:04,360
Speaker 5: dollar today and then when you retire, how much is

319
00:14:04,400 --> 00:14:06,760
Speaker 5: that dollar going to be worth? Because we know and

320
00:14:06,840 --> 00:14:09,240
Speaker 5: I've said this example a million times on the podcast,

321
00:14:09,280 --> 00:14:12,080
Speaker 5: and I keep reiterating it because I actually want just

322
00:14:12,280 --> 00:14:15,080
Speaker 5: one example to stick in people's heads where they go, oh,

323
00:14:15,240 --> 00:14:17,800
Speaker 5: that one makes sense as opposed to giving six million

324
00:14:17,800 --> 00:14:19,680
Speaker 5: others where in the moment you go, that makes sense,

325
00:14:19,720 --> 00:14:21,320
Speaker 5: But you can't tell your friend at brunch and look

326
00:14:21,360 --> 00:14:24,760
Speaker 5: smarter so if you started at the age of twenty one,

327
00:14:24,800 --> 00:14:27,200
Speaker 5: which none of us are anymore, and to be honest,

328
00:14:27,240 --> 00:14:29,040
Speaker 5: we're in a cost of living crisis. So this is

329
00:14:29,080 --> 00:14:32,080
Speaker 5: all aspirational. So, Beck, I'm not putting pressure on you

330
00:14:32,120 --> 00:14:34,040
Speaker 5: to find five hundred bucks each and every single month

331
00:14:34,080 --> 00:14:36,760
Speaker 5: because that's cooked, right, but it's a good example to

332
00:14:37,000 --> 00:14:39,680
Speaker 5: help you understand how to create wealth. Right. So if

333
00:14:39,680 --> 00:14:42,720
Speaker 5: you took five hundred dollars each in every single month

334
00:14:42,880 --> 00:14:45,080
Speaker 5: from the time that you were twenty one years old,

335
00:14:45,120 --> 00:14:48,520
Speaker 5: and you invested that in the share market, if you

336
00:14:48,720 --> 00:14:51,160
Speaker 5: have invested it with an average rate of return of

337
00:14:51,280 --> 00:14:53,360
Speaker 5: seven and a half percent, by the time you retire,

338
00:14:53,440 --> 00:14:56,320
Speaker 5: you'll have an additional one point two million dollars in

339
00:14:56,360 --> 00:14:57,680
Speaker 5: your investment portfolio.

340
00:14:58,160 --> 00:14:59,000
Speaker 2: That's very success.

341
00:14:59,120 --> 00:15:01,440
Speaker 5: It could be completely passive, like you could just transfer

342
00:15:01,480 --> 00:15:02,840
Speaker 5: it out and not think about it for a really

343
00:15:02,840 --> 00:15:06,520
Speaker 5: long time. Yeah, but when it comes to cost per wear,

344
00:15:06,760 --> 00:15:09,280
Speaker 5: look how much additional money you're getting Because if you'd

345
00:15:09,400 --> 00:15:12,880
Speaker 5: saved that money, Like if you'd saved five hundred dollars

346
00:15:12,880 --> 00:15:15,160
Speaker 5: each and every single month instead of investing it, Beck,

347
00:15:15,560 --> 00:15:17,920
Speaker 5: you'd only have two hundred and forty thousand dollars over

348
00:15:17,960 --> 00:15:21,080
Speaker 5: the same period of time. That's a million dollars worth

349
00:15:21,120 --> 00:15:21,800
Speaker 5: of free money.

350
00:15:23,040 --> 00:15:24,120
Speaker 4: That's some girl math.

351
00:15:24,200 --> 00:15:27,240
Speaker 2: That's some girl math. That's the girl math. We're talking about.

352
00:15:28,440 --> 00:15:29,440
Speaker 2: Money is girl math.

353
00:15:29,640 --> 00:15:33,040
Speaker 5: If you think that the money in your wallet is

354
00:15:33,040 --> 00:15:35,560
Speaker 5: free money because it's not in your bank account, my friend,

355
00:15:36,440 --> 00:15:39,480
Speaker 5: let me show you real free money, not just the

356
00:15:39,480 --> 00:15:41,360
Speaker 5: money that you earned, and then you.

357
00:15:41,360 --> 00:15:44,240
Speaker 4: Spent legitimate money.

358
00:15:44,280 --> 00:15:45,360
Speaker 2: Put your money over here.

359
00:15:45,640 --> 00:15:47,680
Speaker 5: You will end up with a million dollars more than

360
00:15:47,720 --> 00:15:49,240
Speaker 5: what you would have if you hadn't done it.

361
00:15:49,320 --> 00:15:51,080
Speaker 4: Wow, I kind of want a piece of that.

362
00:15:51,120 --> 00:15:53,920
Speaker 5: I gotta say, I'm going to get you investing. Honestly,

363
00:15:54,040 --> 00:15:55,760
Speaker 5: I'm going to give it another six months and then

364
00:15:55,800 --> 00:15:57,600
Speaker 5: you'll have an investment portfolio and it's going to be

365
00:15:57,640 --> 00:15:58,720
Speaker 5: the sexiest.

366
00:15:58,240 --> 00:15:59,200
Speaker 2: Thing in the entire world.

367
00:15:59,200 --> 00:16:01,960
Speaker 4: Thank you, Val, I'm very excited about it. Okay, So

368
00:16:02,040 --> 00:16:04,400
Speaker 4: here's one that resonates with me. You did speak before

369
00:16:04,400 --> 00:16:07,040
Speaker 4: about prospective costs and the idea of hitting up sales

370
00:16:07,320 --> 00:16:08,840
Speaker 4: now to save money in the future.

371
00:16:09,000 --> 00:16:10,880
Speaker 2: Again, like, it's not the worst idea, is it.

372
00:16:10,960 --> 00:16:12,120
Speaker 4: Yeah, that's kind of like what I do.

373
00:16:12,720 --> 00:16:15,400
Speaker 5: I think we need to just keep our heads screwed

374
00:16:15,440 --> 00:16:18,440
Speaker 5: on when it comes to spending, right, so all of

375
00:16:18,480 --> 00:16:21,200
Speaker 5: that wieling dealing and hunting for a bargain has some

376
00:16:21,280 --> 00:16:25,400
Speaker 5: similarities to I guess portfolio theory, like how many times

377
00:16:25,440 --> 00:16:27,400
Speaker 5: I don't know if you've done this, but like, let's

378
00:16:27,400 --> 00:16:29,680
Speaker 5: pretend there's a dress I want to buy. It's really expensive,

379
00:16:29,680 --> 00:16:33,000
Speaker 5: it's five hundred dollar dress. You best believe I am

380
00:16:33,080 --> 00:16:35,440
Speaker 5: gonna try the dress on be like yep, Okay, I

381
00:16:35,520 --> 00:16:37,800
Speaker 5: really really want this, but I'm not spending five hundred

382
00:16:37,800 --> 00:16:39,440
Speaker 5: dollars on it. I'm going to go home and going

383
00:16:39,480 --> 00:16:41,320
Speaker 5: to google it. You're going to see when it came out,

384
00:16:41,600 --> 00:16:43,320
Speaker 5: don't we reckon? It's going to go on sale soon.

385
00:16:43,400 --> 00:16:45,400
Speaker 5: I'm not sure. I'm going to see what other retailers

386
00:16:45,440 --> 00:16:47,200
Speaker 5: have it. Do they have like a price match or

387
00:16:47,200 --> 00:16:50,760
Speaker 5: a guarantee or something? Are they cheaper? Once I found

388
00:16:50,760 --> 00:16:52,200
Speaker 5: it at a price point that I want to buy

389
00:16:52,240 --> 00:16:54,080
Speaker 5: it at. You best believe I'm going to be going

390
00:16:54,120 --> 00:16:56,160
Speaker 5: on shot back and I'm going to be making sure

391
00:16:56,200 --> 00:16:58,360
Speaker 5: I get my cash back. You gues believe that I'm

392
00:16:58,400 --> 00:17:00,560
Speaker 5: going to make sure that I have just it with

393
00:17:00,600 --> 00:17:03,640
Speaker 5: my flybys if I can to get some extra points, right,

394
00:17:03,760 --> 00:17:06,840
Speaker 5: Like how smart are we when it comes to purchasing dresses.

395
00:17:07,560 --> 00:17:09,119
Speaker 5: But then we're like, oh, I don't even know what

396
00:17:09,200 --> 00:17:12,040
Speaker 5: to do when it comes to an investment portfolio. Sure,

397
00:17:12,440 --> 00:17:14,359
Speaker 5: Like it's because you've never done it. Do you know

398
00:17:14,400 --> 00:17:17,320
Speaker 5: it's just as easy, Like it is just as easy

399
00:17:17,359 --> 00:17:19,760
Speaker 5: to go online and understand what an ETF gets up

400
00:17:19,800 --> 00:17:21,520
Speaker 5: to and how it works, and go, oh, how am

401
00:17:21,520 --> 00:17:23,159
Speaker 5: I going to get the best return for my money?

402
00:17:23,240 --> 00:17:25,639
Speaker 5: It's all there in plain English. I promise you just

403
00:17:25,680 --> 00:17:27,560
Speaker 5: have to start looking for it. But you're gonna think

404
00:17:27,560 --> 00:17:30,159
Speaker 5: it's overwhelming because you've never looked for it, right, Like,

405
00:17:30,240 --> 00:17:32,720
Speaker 5: do you remember the day you discovered the iconic dot

406
00:17:32,720 --> 00:17:33,159
Speaker 5: com dot a?

407
00:17:33,240 --> 00:17:33,400
Speaker 3: You?

408
00:17:33,400 --> 00:17:35,000
Speaker 2: You were like, what the heck can? I didn't even

409
00:17:35,040 --> 00:17:36,720
Speaker 2: know this website existed? And now it was like their

410
00:17:36,760 --> 00:17:37,680
Speaker 2: mecca for clothes.

411
00:17:37,960 --> 00:17:38,920
Speaker 4: Yes, very truck.

412
00:17:39,080 --> 00:17:41,040
Speaker 5: I remember the days when I had to like look

413
00:17:41,119 --> 00:17:45,680
Speaker 5: for clothes individually on individual retailers' websites. Like the world

414
00:17:45,760 --> 00:17:48,679
Speaker 5: is changing, my friends, And I guess there is a

415
00:17:48,800 --> 00:17:52,760
Speaker 5: method of choosing investments to maximize expected returns and minimize

416
00:17:52,800 --> 00:17:55,560
Speaker 5: risk without it being overwhelming. I promise it's not too hard.

417
00:17:56,160 --> 00:17:58,800
Speaker 5: But you can evaluate every single purchase and how it

418
00:17:58,840 --> 00:18:02,320
Speaker 5: contributes to like your shopping portfolio. You could say, so,

419
00:18:02,480 --> 00:18:04,800
Speaker 5: if you're a girl math shopper, you could essentially become

420
00:18:04,880 --> 00:18:06,439
Speaker 5: like a shopping portfolio manager.

421
00:18:07,240 --> 00:18:08,640
Speaker 2: I just don't see why you couldn't.

422
00:18:08,720 --> 00:18:11,600
Speaker 5: Yes, you've already got those skills analyzing it and going

423
00:18:11,640 --> 00:18:13,600
Speaker 5: all right, well, if I plug this shop back thing

424
00:18:13,600 --> 00:18:15,399
Speaker 5: in here and do this, and if I wait for

425
00:18:15,440 --> 00:18:17,520
Speaker 5: this particular day, there's going to be a sale or

426
00:18:17,560 --> 00:18:19,879
Speaker 5: there's going to be an increased amount of shop back

427
00:18:19,960 --> 00:18:20,960
Speaker 5: cash rewards.

428
00:18:21,040 --> 00:18:22,280
Speaker 2: Like we're smart.

429
00:18:22,480 --> 00:18:25,119
Speaker 5: Yeah, you are so savvy. Yeah, if you can do that,

430
00:18:25,200 --> 00:18:27,440
Speaker 5: my friend, you can pick an ETF totally.

431
00:18:27,520 --> 00:18:29,000
Speaker 4: That is a transferable skill.

432
00:18:30,280 --> 00:18:31,680
Speaker 2: That's really one hundred percent.

433
00:18:31,920 --> 00:18:34,159
Speaker 4: But we've talked about before the ways that micro investing

434
00:18:34,200 --> 00:18:37,280
Speaker 4: platforms make it easier to invest. What are some things

435
00:18:37,280 --> 00:18:38,840
Speaker 4: that platforms are currently doing.

436
00:18:39,359 --> 00:18:43,440
Speaker 5: Honestly, there's six million things that different investing portfolios are doing.

437
00:18:43,520 --> 00:18:47,000
Speaker 5: I've said before that I like micro investing platforms because

438
00:18:47,000 --> 00:18:49,640
Speaker 5: they kind of like the gateway drug of the investing world, right,

439
00:18:49,760 --> 00:18:51,840
Speaker 5: Like they're the one that you feel most comfortable taking

440
00:18:51,880 --> 00:18:54,440
Speaker 5: for the first time, and you go, all right, well

441
00:18:54,480 --> 00:18:56,280
Speaker 5: that's not too bad. All my friends are doing it.

442
00:18:56,520 --> 00:18:59,199
Speaker 5: It's all managed for you, like you can see the

443
00:18:59,240 --> 00:19:01,600
Speaker 5: ebbs and the flows of the market, Like you don't

444
00:19:01,600 --> 00:19:04,679
Speaker 5: have to put up a massive amount of money to

445
00:19:04,720 --> 00:19:08,000
Speaker 5: begin with. I obviously think that micro investing, and I've

446
00:19:08,000 --> 00:19:11,440
Speaker 5: said this before, it's not for long term. Like from

447
00:19:11,480 --> 00:19:14,119
Speaker 5: my perspective, micro investing is to get foot in the

448
00:19:14,160 --> 00:19:16,560
Speaker 5: water and see what's going on and get comfortable with

449
00:19:16,600 --> 00:19:19,960
Speaker 5: it and start to understand the market. But my understanding

450
00:19:20,000 --> 00:19:23,480
Speaker 5: would be that you would then graduate to a larger platform, sure,

451
00:19:23,520 --> 00:19:26,440
Speaker 5: because it's going to be the platform that you ultimately

452
00:19:26,480 --> 00:19:30,119
Speaker 5: create wealth on. And up until this point, there hasn't

453
00:19:30,200 --> 00:19:32,919
Speaker 5: been many share trading platforms that have enabled you to

454
00:19:33,240 --> 00:19:36,639
Speaker 5: use small amounts of money to invest for the first time.

455
00:19:36,880 --> 00:19:39,240
Speaker 5: It's kind of like they were like the Gateway because

456
00:19:39,240 --> 00:19:41,840
Speaker 5: you could invest with like five or ten dollars, whereas

457
00:19:41,880 --> 00:19:44,760
Speaker 5: bigger platforms would go, oh, we'll beck the minimum investment

458
00:19:44,800 --> 00:19:46,840
Speaker 5: amounts five hundred and you'd be like, well, I don't

459
00:19:46,840 --> 00:19:48,959
Speaker 5: want to put my life savings on a platform when

460
00:19:49,000 --> 00:19:50,840
Speaker 5: I haven't even dipped my toe in the water in

461
00:19:50,880 --> 00:19:54,120
Speaker 5: this investing world, Like what the heck? So micro investing

462
00:19:54,119 --> 00:19:57,320
Speaker 5: platforms kind of were that bridging the gap. But now

463
00:19:57,760 --> 00:20:00,359
Speaker 5: other shared trading platforms are kind of catching up, going, hey,

464
00:20:00,920 --> 00:20:05,560
Speaker 5: our consumers really want that micro investing platform experience without

465
00:20:05,760 --> 00:20:08,280
Speaker 5: having to change platforms later. And that's where a platform

466
00:20:08,320 --> 00:20:10,280
Speaker 5: like shares is coming because they do all of that.

467
00:20:10,600 --> 00:20:12,680
Speaker 5: And I'm not just plugging shares Is because I work

468
00:20:12,720 --> 00:20:15,040
Speaker 5: with them. I'm literally looking at it going, hey, here's

469
00:20:15,080 --> 00:20:17,960
Speaker 5: a really great option if this is what you're looking for. Sure,

470
00:20:18,000 --> 00:20:22,119
Speaker 5: So there's lots of different things. Obviously, shares Is enable

471
00:20:22,200 --> 00:20:24,240
Speaker 5: you to invest with a really low amount of money.

472
00:20:24,280 --> 00:20:26,399
Speaker 5: They want to give the same opportunity that someone with

473
00:20:26,520 --> 00:20:29,480
Speaker 5: five million dollars has to someone with five dollars to

474
00:20:29,520 --> 00:20:32,240
Speaker 5: create wealth, and I think that that is a beautiful strategy.

475
00:20:32,520 --> 00:20:36,359
Speaker 5: But they're implementing things like automatic dividend reinvestment plans, which

476
00:20:36,359 --> 00:20:39,280
Speaker 5: we think is really sexy. They have roundups, which a

477
00:20:39,280 --> 00:20:42,360
Speaker 5: lot of microinvesting platforms do. The two most popular micro

478
00:20:42,480 --> 00:20:46,639
Speaker 5: investing platforms in our community are Raise and Spaceship. We

479
00:20:46,720 --> 00:20:49,119
Speaker 5: have done episodes on this, so please go back and

480
00:20:49,200 --> 00:20:50,800
Speaker 5: listen to that because I'm not going to get into

481
00:20:50,840 --> 00:20:54,320
Speaker 5: the semantics of the two different investing platforms, but essentially,

482
00:20:54,720 --> 00:20:58,800
Speaker 5: Rais invests in different risk profiles and alignance and etf

483
00:20:58,880 --> 00:21:01,960
Speaker 5: to you, whereas Spaceship is more of a managed fund.

484
00:21:01,960 --> 00:21:03,840
Speaker 5: If that's not making any sense, I did a whole

485
00:21:03,880 --> 00:21:07,000
Speaker 5: episode on what micro investing platforms do, how they work,

486
00:21:07,040 --> 00:21:10,400
Speaker 5: and how they're structured. But there's just lots of different options,

487
00:21:10,680 --> 00:21:14,159
Speaker 5: and I think that if you can start investing with

488
00:21:14,160 --> 00:21:16,159
Speaker 5: a small amount of money, you can use something like

489
00:21:16,160 --> 00:21:18,679
Speaker 5: a roundup. So beck, every time you buy a coffee,

490
00:21:18,680 --> 00:21:21,159
Speaker 5: it might be like, let's pretend you're not buying it

491
00:21:21,240 --> 00:21:24,120
Speaker 5: England are, so it's not six dollars fifty seven dollars. Right,

492
00:21:24,560 --> 00:21:27,280
Speaker 5: Let's pretend your coffee with six dollars fifty this morning. Sure,

493
00:21:27,320 --> 00:21:30,240
Speaker 5: every time your bank saw that transaction of six dollars

494
00:21:30,320 --> 00:21:32,760
Speaker 5: fifty on your phone, it would automatically round that purchase

495
00:21:32,800 --> 00:21:35,560
Speaker 5: off to seven dollars and invest fifty cents for you.

496
00:21:35,840 --> 00:21:39,359
Speaker 5: So you're consistently investing with your everyday purchases, but you

497
00:21:39,440 --> 00:21:41,720
Speaker 5: don't really feel it because like, what's fifty cents when

498
00:21:41,720 --> 00:21:43,320
Speaker 5: you're already spending six dollars fifty.

499
00:21:43,400 --> 00:21:44,119
Speaker 4: That's a good idea.

500
00:21:44,359 --> 00:21:49,320
Speaker 5: So like is coincidental investing? Yes, also automating, So if

501
00:21:49,359 --> 00:21:52,000
Speaker 5: you can automate your investments and go all right, well,

502
00:21:52,200 --> 00:21:53,040
Speaker 5: I can't be trusted.

503
00:21:53,080 --> 00:21:53,720
Speaker 2: Let's be honest.

504
00:21:53,800 --> 00:21:56,439
Speaker 5: I'm Victoria, Like, I have to have everything automated, otherwise

505
00:21:56,440 --> 00:21:58,960
Speaker 5: it doesn't work. So I have to make sure that

506
00:21:59,000 --> 00:22:01,480
Speaker 5: each and every single month and I'm investing, it's just

507
00:22:01,480 --> 00:22:03,720
Speaker 5: direct debited from my account. I've set up an auto

508
00:22:03,720 --> 00:22:06,960
Speaker 5: transfer that my investment amount goes straight into my investment account.

509
00:22:07,359 --> 00:22:10,280
Speaker 5: But it's every single month. And if that feels like

510
00:22:10,320 --> 00:22:13,040
Speaker 5: a little bit too much, then go all right, well

511
00:22:13,080 --> 00:22:14,520
Speaker 5: I don't want to do it every month. They want

512
00:22:14,560 --> 00:22:16,560
Speaker 5: to do it every week, or maybe do a lower

513
00:22:16,600 --> 00:22:18,800
Speaker 5: amount than what you can and top it up every month.

514
00:22:19,080 --> 00:22:21,520
Speaker 5: But I think everyone can actually go map their way

515
00:22:21,560 --> 00:22:24,879
Speaker 5: to wealth. And you know, microinvesting platforms and share trading

516
00:22:24,920 --> 00:22:29,879
Speaker 5: investing platforms are actually really helpful nowadays and not nearly

517
00:22:29,960 --> 00:22:32,480
Speaker 5: as terrifying as they used to be, I promise, Like

518
00:22:32,520 --> 00:22:35,040
Speaker 5: their user interfaces just makes sense. You don't even need

519
00:22:35,040 --> 00:22:36,760
Speaker 5: a computer anymore. You can do it all via your

520
00:22:36,760 --> 00:22:40,320
Speaker 5: phone with a beautiful app. Like I just think that

521
00:22:40,440 --> 00:22:44,200
Speaker 5: if my friends, you can strategize to justify a dress

522
00:22:44,200 --> 00:22:47,760
Speaker 5: that you're gonna wear once, you can absolutely strategize to

523
00:22:47,800 --> 00:22:48,440
Speaker 5: be an investor.

524
00:22:49,040 --> 00:22:52,120
Speaker 4: A men sis. I love that. I want a great

525
00:22:52,160 --> 00:22:53,200
Speaker 4: place to leave it for today.

526
00:22:53,280 --> 00:22:54,840
Speaker 5: I think that's a good place to leave it, because

527
00:22:54,840 --> 00:22:57,159
Speaker 5: otherwise I'm going to start another feminist rant and you

528
00:22:57,600 --> 00:22:58,800
Speaker 5: want that from me today.

529
00:22:58,880 --> 00:23:00,879
Speaker 4: I kind of want that, but we will save that

530
00:23:00,880 --> 00:23:01,480
Speaker 4: for off, Mike.

531
00:23:01,680 --> 00:23:04,520
Speaker 5: We will all right, have the most beautiful week, my friends.

532
00:23:04,560 --> 00:23:06,000
Speaker 2: We will see you on Friday.

533
00:23:06,080 --> 00:23:09,080
Speaker 4: Bye, guys.

534
00:23:12,800 --> 00:23:15,359
Speaker 6: The advice shared on She's on the Money is general

535
00:23:15,400 --> 00:23:19,240
Speaker 6: in nature and does not consider your individual circumstances. She's

536
00:23:19,280 --> 00:23:22,760
Speaker 6: on the Money exists purely for educational purposes and should

537
00:23:22,800 --> 00:23:25,960
Speaker 6: not be relied upon to make an investment or financial decision.

538
00:23:26,359 --> 00:23:28,600
Speaker 2: If you do choose to buy a financial.

539
00:23:28,160 --> 00:23:32,160
Speaker 6: Product, read the PDS TMD and obtain appropriate financial.

540
00:23:31,720 --> 00:23:33,520
Speaker 5: Advice tailored towards your needs.

541
00:23:33,880 --> 00:23:37,840
Speaker 6: Victoria Divine and She's on the Money are authorized representatives

542
00:23:37,840 --> 00:23:41,960
Speaker 6: of Money Shoper Pty Ltd ABN three two one six

543
00:23:42,040 --> 00:23:45,920
Speaker 6: four nine two seven seven zero eight AFSL four five

544
00:23:46,040 --> 00:23:52,520
Speaker 6: one two eight nine

545
00:24:00,119 --> 00:24:00,159
Speaker 4: H