1 00:00:00,200 --> 00:00:24,120 Speaker 1: She's on the Money. She's on the Money. Hello and 2 00:00:24,200 --> 00:00:27,560 Speaker 1: welcome to She's on the Money, the podcast for millennials 3 00:00:27,560 --> 00:00:31,320 Speaker 1: who want financial freedom. This is one of our Friday 4 00:00:31,400 --> 00:00:34,599 Speaker 1: Drinks episodes where we celebrate the money wins from our 5 00:00:34,680 --> 00:00:38,080 Speaker 1: She's on the Money community. There are so many great 6 00:00:38,159 --> 00:00:40,920 Speaker 1: money wins and confessions that are shared in our Facebook 7 00:00:40,960 --> 00:00:43,920 Speaker 1: group each and every single week, and we spend a 8 00:00:44,159 --> 00:00:47,040 Speaker 1: very big part of our days and weeks talking about 9 00:00:47,080 --> 00:00:49,680 Speaker 1: the things that you guys share in our office. This 10 00:00:49,760 --> 00:00:53,519 Speaker 1: week we are celebrating you and celebrating the festive season. 11 00:00:53,880 --> 00:00:57,240 Speaker 1: But before we get there, we are going to recap 12 00:00:57,320 --> 00:01:02,480 Speaker 1: the week that was. Jessica Ricci, Happy Firstive Season, Happy 13 00:01:02,560 --> 00:01:03,320 Speaker 1: Christmas Eve. 14 00:01:03,560 --> 00:01:06,600 Speaker 2: Oh my, oh my gosh, it is Christmas Eve. Santa's 15 00:01:06,640 --> 00:01:07,400 Speaker 2: coming tomorrow. 16 00:01:07,520 --> 00:01:10,840 Speaker 1: Yeah, that is very true. I cannot wait for Santa 17 00:01:10,880 --> 00:01:12,480 Speaker 1: to come. But do you know what else? I can't 18 00:01:12,480 --> 00:01:15,040 Speaker 1: wait for you to tell me what happened on this 19 00:01:15,080 --> 00:01:16,240 Speaker 1: week's Money Diaries. 20 00:01:16,560 --> 00:01:19,559 Speaker 2: So this week we spoke to a beautiful human who 21 00:01:19,760 --> 00:01:23,160 Speaker 2: has been working her little tush off and has saved 22 00:01:23,360 --> 00:01:26,720 Speaker 2: seventy percent of her income purchased a house all by 23 00:01:26,720 --> 00:01:28,679 Speaker 2: herself at the age of twenty six, we love to 24 00:01:28,720 --> 00:01:31,480 Speaker 2: see it. But then on top of that, she was 25 00:01:31,560 --> 00:01:34,000 Speaker 2: really lovely and shared a little bit of insight into 26 00:01:34,240 --> 00:01:38,920 Speaker 2: how she's handling money with her brand new relationship. Because 27 00:01:38,959 --> 00:01:42,520 Speaker 2: obviously she's bought this house by herself. She's an independent woman, 28 00:01:42,880 --> 00:01:46,839 Speaker 2: but she has this blossoming love that obviously complicates things 29 00:01:46,880 --> 00:01:49,160 Speaker 2: a little bit. So it was really interesting to hear 30 00:01:49,280 --> 00:01:52,920 Speaker 2: how she's approaching that, having those conversations and what that 31 00:01:53,000 --> 00:01:54,120 Speaker 2: kind of looks like for her. 32 00:01:54,440 --> 00:01:57,600 Speaker 1: I thought it was really powerful and I mean quite relatable. 33 00:01:57,680 --> 00:01:59,560 Speaker 1: And I know some people are going to be like Victoria 34 00:01:59,680 --> 00:02:03,320 Speaker 1: owning house young is not relatable, but it totally is 35 00:02:03,520 --> 00:02:05,720 Speaker 1: if you're in the situation where you hustled as hard 36 00:02:05,720 --> 00:02:09,280 Speaker 1: as she is. But those conversations, regardless of whether you 37 00:02:09,360 --> 00:02:12,680 Speaker 1: own property or you don't need to be had early 38 00:02:12,720 --> 00:02:14,400 Speaker 1: in a relationship. So it was kind of nice to 39 00:02:14,440 --> 00:02:16,560 Speaker 1: be like, you talked about it yet and see what 40 00:02:16,639 --> 00:02:21,080 Speaker 1: she said. George, what happened on this week's Wednesday Deep Dive. 41 00:02:21,320 --> 00:02:24,079 Speaker 3: This week, Fee we prepped for what will it be? 42 00:02:24,200 --> 00:02:27,600 Speaker 3: I guess it'll be Sunday Boxing Day. We spoke about 43 00:02:27,639 --> 00:02:30,360 Speaker 3: how we can make the most of the sales, and 44 00:02:30,400 --> 00:02:33,800 Speaker 3: as everyone who listens to the podcast regularly would know 45 00:02:34,040 --> 00:02:36,919 Speaker 3: we're pretty anti sales here a she's on the money 46 00:02:37,280 --> 00:02:40,240 Speaker 3: unless we're using them to our advantage and buying things 47 00:02:40,440 --> 00:02:42,640 Speaker 3: that we were going to be buying anyway for that 48 00:02:42,720 --> 00:02:45,359 Speaker 3: better price. So you know it was loaded with those 49 00:02:45,440 --> 00:02:46,200 Speaker 3: hot tips. 50 00:02:46,240 --> 00:02:48,280 Speaker 1: We are anti impulse spending. 51 00:02:48,360 --> 00:02:48,640 Speaker 2: George. 52 00:02:48,760 --> 00:02:51,800 Speaker 3: Yeah, well, and that's it. That's it. I confirmed that 53 00:02:51,880 --> 00:02:55,320 Speaker 3: I most definitely will not be heading to the stores 54 00:02:55,400 --> 00:02:58,760 Speaker 3: on Boxing Day because it's just way too chaotic. What 55 00:02:59,080 --> 00:03:01,320 Speaker 3: are you guys going to do? You be hitting the shops, 56 00:03:01,760 --> 00:03:02,520 Speaker 3: not in person. 57 00:03:02,600 --> 00:03:04,080 Speaker 1: I'm going to be hitting the beach. 58 00:03:05,400 --> 00:03:07,600 Speaker 3: Gosh, that's a more affordable option. 59 00:03:07,760 --> 00:03:10,160 Speaker 1: I absolutely am not going to hit the shops. In fact, 60 00:03:10,639 --> 00:03:13,600 Speaker 1: it is now Christmas Eve, and so I am done 61 00:03:13,800 --> 00:03:17,600 Speaker 1: Christmas shopping, guys. I was a few days ago, but 62 00:03:18,040 --> 00:03:20,880 Speaker 1: the anxiety I was feeling about even going out Christmas 63 00:03:20,919 --> 00:03:24,080 Speaker 1: shopping it was kind of like a game. I'm not 64 00:03:24,120 --> 00:03:26,359 Speaker 1: gonna get COVID before Christmas? 65 00:03:26,680 --> 00:03:29,480 Speaker 2: Oh my gosh. I felt exactly the same way. So 66 00:03:29,520 --> 00:03:31,200 Speaker 2: I'll be doing a little bit of shopping, but probably 67 00:03:31,280 --> 00:03:35,360 Speaker 2: online where I can shop around really easily and think 68 00:03:35,400 --> 00:03:37,760 Speaker 2: about what I'm doing. A lot of those sales have 69 00:03:37,840 --> 00:03:41,360 Speaker 2: already started as well as I'm already like considering those purchases, 70 00:03:41,360 --> 00:03:42,960 Speaker 2: which makes me just feel good, you. 71 00:03:42,880 --> 00:03:44,120 Speaker 4: Know, Oh my gosh, I know. 72 00:03:44,560 --> 00:03:46,920 Speaker 1: And for me, I was literally like, I don't want 73 00:03:46,920 --> 00:03:49,120 Speaker 1: to go to the shops, but surely there are going 74 00:03:49,160 --> 00:03:51,320 Speaker 1: to be a lot of online sales. And if there's 75 00:03:51,400 --> 00:03:53,360 Speaker 1: nothing that I can think of off the top of 76 00:03:53,400 --> 00:03:56,680 Speaker 1: my head without checking my emails, guarantee you I don't 77 00:03:56,720 --> 00:03:59,160 Speaker 1: need it. I don't need anything. So I'm going to 78 00:03:59,200 --> 00:04:01,520 Speaker 1: try and just avoid my phone on Boxing day. I 79 00:04:01,520 --> 00:04:02,680 Speaker 1: think you'll find. 80 00:04:02,640 --> 00:04:05,800 Speaker 2: That's such a good idea. Also, just your friendly reminder 81 00:04:05,920 --> 00:04:08,280 Speaker 2: to anyone who is planning or going to the sales, 82 00:04:08,280 --> 00:04:10,800 Speaker 2: please be kind to the staff. It's been a really 83 00:04:11,240 --> 00:04:14,800 Speaker 2: rough year in general, but it is not a good 84 00:04:14,840 --> 00:04:17,600 Speaker 2: time to be a retail worker at Christmas. So if 85 00:04:17,640 --> 00:04:19,680 Speaker 2: it's really crazy or they don't have the shoes in 86 00:04:19,720 --> 00:04:22,040 Speaker 2: your size, don't take it out on them. It's really 87 00:04:22,040 --> 00:04:22,560 Speaker 2: not their fault. 88 00:04:22,640 --> 00:04:24,120 Speaker 1: It's not their fault at all, do you know what. 89 00:04:24,200 --> 00:04:26,279 Speaker 1: That's one thing I don't like people who are rude 90 00:04:26,320 --> 00:04:30,520 Speaker 1: to salespeople or anybody who works in hospitality, like. 91 00:04:30,720 --> 00:04:32,880 Speaker 3: H It says a lot about a person. 92 00:04:33,080 --> 00:04:37,800 Speaker 1: Yes, exactly, jeeking. So to segue away from that, before 93 00:04:37,839 --> 00:04:39,479 Speaker 1: I go on a round about how we should all 94 00:04:39,520 --> 00:04:43,359 Speaker 1: be kind to one another. Geking, let us know what 95 00:04:43,560 --> 00:04:46,520 Speaker 1: happened in the Facebook group this week, what money wins 96 00:04:46,640 --> 00:04:47,280 Speaker 1: was shared? 97 00:04:47,400 --> 00:04:51,719 Speaker 3: Tell us straight into it. Uh, you know there were 98 00:04:51,800 --> 00:04:55,280 Speaker 3: there were many, as as always. So I guess I 99 00:04:55,360 --> 00:04:56,960 Speaker 3: know this won't be our last one for the year, 100 00:04:57,000 --> 00:04:58,599 Speaker 3: will it. We've got one more episode. 101 00:04:58,839 --> 00:05:01,000 Speaker 1: Nope, we have one more and it is going to 102 00:05:01,080 --> 00:05:03,680 Speaker 1: be right before the new year, So it's our last 103 00:05:03,680 --> 00:05:04,640 Speaker 1: one before Christmas. 104 00:05:04,720 --> 00:05:07,640 Speaker 3: Gee, okay, cool, Well, yeah, that's cool to know. It 105 00:05:07,680 --> 00:05:10,000 Speaker 3: doesn't really mean much in the context of this, but 106 00:05:10,040 --> 00:05:10,760 Speaker 3: that's okay. 107 00:05:11,320 --> 00:05:13,000 Speaker 1: You're like, but you know what I have. I have 108 00:05:13,120 --> 00:05:15,679 Speaker 1: the thread and I have picked my favorites. It doesn't 109 00:05:15,720 --> 00:05:17,000 Speaker 1: matter about timing. 110 00:05:16,720 --> 00:05:20,320 Speaker 3: Precisely, okay. So our first win here is from a Trinity. 111 00:05:20,920 --> 00:05:23,200 Speaker 3: She sadly just had to go to the hospital for 112 00:05:23,240 --> 00:05:24,920 Speaker 3: an appointment. Actually, I don't know if it was sad, 113 00:05:24,960 --> 00:05:26,320 Speaker 3: It might have just been neutral whatever. 114 00:05:26,480 --> 00:05:27,760 Speaker 1: It might have been a job interview. 115 00:05:27,800 --> 00:05:31,240 Speaker 3: Georgia could have been in anyway. Parking at the hospital's 116 00:05:31,279 --> 00:05:35,120 Speaker 3: expensive rudely, so I would say, no, one's really as 117 00:05:35,160 --> 00:05:35,920 Speaker 3: they want to be. 118 00:05:36,160 --> 00:05:38,600 Speaker 2: People are going through like a traumatic experience, like you're 119 00:05:38,600 --> 00:05:40,159 Speaker 2: going to see a loved one or you're going to 120 00:05:40,160 --> 00:05:41,919 Speaker 2: get a surgery or something like that. They're like, you 121 00:05:41,960 --> 00:05:44,200 Speaker 2: know what you need to do pay fifty dollars for 122 00:05:44,240 --> 00:05:45,040 Speaker 2: parking exactly. 123 00:05:48,160 --> 00:05:51,120 Speaker 1: It's actually taking the mickey in my opinion. I just 124 00:05:51,520 --> 00:05:53,919 Speaker 1: that's one thing that you're like, you know what, I 125 00:05:53,960 --> 00:05:56,240 Speaker 1: know we have a really great healthcare system and we're 126 00:05:56,279 --> 00:05:58,800 Speaker 1: so looked after, but come on, you don't need to 127 00:05:58,880 --> 00:05:59,520 Speaker 1: kick as well. 128 00:05:59,560 --> 00:06:02,400 Speaker 3: We're damn one hundred percent. But the good news for 129 00:06:02,480 --> 00:06:05,280 Speaker 3: Trinity it was that the ticket machine was out of 130 00:06:05,440 --> 00:06:08,400 Speaker 3: order when she went there. It was, you know, it 131 00:06:08,440 --> 00:06:09,200 Speaker 3: was a good result. 132 00:06:09,440 --> 00:06:12,360 Speaker 1: I really like that. That is karma in the best way. 133 00:06:12,440 --> 00:06:15,560 Speaker 3: Precisely. So our next win here, Ladies is from Annie. 134 00:06:15,640 --> 00:06:19,200 Speaker 3: So she usually makes dried oranges coated in chocolate or 135 00:06:19,320 --> 00:06:21,960 Speaker 3: just makes them dried, and you know how, you pop 136 00:06:21,960 --> 00:06:23,080 Speaker 3: them in your little drinks. 137 00:06:22,800 --> 00:06:25,080 Speaker 1: A little bit of fancy fancy and you know what, 138 00:06:25,080 --> 00:06:29,279 Speaker 1: they're so expensive. They are so expensive to purchase on 139 00:06:29,320 --> 00:06:31,400 Speaker 1: their own, but you can dry them out on your own. 140 00:06:31,440 --> 00:06:33,800 Speaker 1: They would actually be a great Christmas present. I mean, 141 00:06:33,880 --> 00:06:36,880 Speaker 1: I can't be can't be out here suggesting things on Christmas, 142 00:06:36,920 --> 00:06:37,800 Speaker 1: even expecting you. 143 00:06:37,760 --> 00:06:41,120 Speaker 3: To maybe for next year, guys, Exactly, it does take 144 00:06:41,120 --> 00:06:43,960 Speaker 3: a few hours. So Annie has been drying oranges and 145 00:06:44,000 --> 00:06:47,840 Speaker 3: she's taken them to work, and she's charging her colleagues 146 00:06:47,880 --> 00:06:49,560 Speaker 3: for them, who are loving it. And they've all bought 147 00:06:49,640 --> 00:06:52,800 Speaker 3: little little baggies of oranges. How good that is? 148 00:06:52,960 --> 00:06:56,760 Speaker 1: So sweet. She's a genius, she is ALUs Annie, You're 149 00:06:56,800 --> 00:06:57,520 Speaker 1: a smart woman. 150 00:06:57,720 --> 00:06:59,680 Speaker 3: That's a good DIY one V. You know how we 151 00:06:59,760 --> 00:07:01,799 Speaker 3: were talking about that and we were like, oh, what's 152 00:07:01,839 --> 00:07:02,960 Speaker 3: the good diy? 153 00:07:03,400 --> 00:07:05,240 Speaker 1: Where were you Annie when we had to write that 154 00:07:05,360 --> 00:07:09,520 Speaker 1: episode percisely we needed any And are you selling those 155 00:07:09,600 --> 00:07:13,720 Speaker 1: bags at the hospital where you worked? Pay parking by chicks. 156 00:07:16,280 --> 00:07:19,480 Speaker 3: Our next week here, guys, is from Sonia. So a 157 00:07:19,520 --> 00:07:22,679 Speaker 3: neighbor of hers was throwing out a Persian style rug 158 00:07:22,720 --> 00:07:23,520 Speaker 3: as they were moving in. 159 00:07:23,600 --> 00:07:25,600 Speaker 1: My gosh, I'm sorry, I thought you were about to 160 00:07:25,600 --> 00:07:31,000 Speaker 1: say a Persian cash. What is this show? This show 161 00:07:31,040 --> 00:07:34,679 Speaker 1: has gone loose because we're all really tired, guys. 162 00:07:35,080 --> 00:07:37,360 Speaker 3: No, so it's not quite that wild. But Persian rugs 163 00:07:37,360 --> 00:07:38,880 Speaker 3: there are as excited as cats. 164 00:07:39,040 --> 00:07:42,560 Speaker 1: Some may probably more expensive than purchasing a cat. 165 00:07:42,800 --> 00:07:46,040 Speaker 3: So she took the rug, which was lovely, took it 166 00:07:46,080 --> 00:07:48,840 Speaker 3: to the rug cleaner, which charged her five hundred dollars, 167 00:07:48,840 --> 00:07:53,000 Speaker 3: so not cheap. But this rug is worth five thousand dollars. 168 00:07:53,040 --> 00:07:57,600 Speaker 3: It's pure silk, it's hand knotted, and now she's made 169 00:07:57,600 --> 00:08:01,960 Speaker 3: a lovely friend at the rug repair shop and everything's 170 00:08:02,040 --> 00:08:04,880 Speaker 3: come out aces or I'm not. 171 00:08:04,840 --> 00:08:12,040 Speaker 1: Gonna lie George that Moneywin has sent Jess like Jess 172 00:08:13,160 --> 00:08:16,400 Speaker 1: looks like she is nearly going to pass out on zoo. 173 00:08:16,600 --> 00:08:19,000 Speaker 3: It's not the money, whin, it's the delivery. 174 00:08:19,400 --> 00:08:22,560 Speaker 1: It definitely was the delivery. But do you know what I learned? 175 00:08:22,640 --> 00:08:26,560 Speaker 1: I just learned that rug cleaning really expensive. And I 176 00:08:26,600 --> 00:08:28,800 Speaker 1: didn't even know rugs could be made out of silk. 177 00:08:28,920 --> 00:08:30,160 Speaker 1: Well in the rich is. 178 00:08:30,080 --> 00:08:34,160 Speaker 3: That there's different kinds of silks. You know, It's not 179 00:08:34,240 --> 00:08:39,200 Speaker 3: just like a slippery, little delightful situation. It's I'm assuming it's, 180 00:08:39,920 --> 00:08:41,479 Speaker 3: you know, just like a regular. 181 00:08:41,200 --> 00:08:44,360 Speaker 1: Rug, a regular rug made of silk that cost five 182 00:08:44,440 --> 00:08:45,640 Speaker 1: hundred dollars to clean. 183 00:08:45,840 --> 00:08:50,040 Speaker 2: I'm just imagining standing on the rug. I couldn't bring 184 00:08:50,200 --> 00:08:52,800 Speaker 2: like knowing that it was silk. I just don't think 185 00:08:52,840 --> 00:08:53,880 Speaker 2: that I could do it. 186 00:08:54,280 --> 00:08:56,880 Speaker 3: You guys know what we need? We need a photo 187 00:08:56,960 --> 00:09:00,240 Speaker 3: of this from Sonya it actually looks like because I 188 00:09:00,240 --> 00:09:02,200 Speaker 3: feel like it's going to be stunning and it'll all 189 00:09:02,240 --> 00:09:02,880 Speaker 3: make sense. 190 00:09:03,280 --> 00:09:06,440 Speaker 1: I mean, I did just google silk Persian rug and 191 00:09:06,440 --> 00:09:08,880 Speaker 1: I got a pretty good picture of what that looks like. 192 00:09:09,120 --> 00:09:11,480 Speaker 1: I think I was just more interested that it costs 193 00:09:11,520 --> 00:09:13,120 Speaker 1: five hundred dollars to clean a rug. 194 00:09:13,280 --> 00:09:15,839 Speaker 2: I mean it's a big surface area. If you think 195 00:09:15,880 --> 00:09:19,280 Speaker 2: about it makes sense. They charge you like eighty dollars 196 00:09:19,320 --> 00:09:22,000 Speaker 2: to clean a blazer, and a rug is arguably like 197 00:09:22,080 --> 00:09:24,920 Speaker 2: at least ten blazers stacked on top of each other. 198 00:09:25,240 --> 00:09:26,080 Speaker 4: That's some good mention. 199 00:09:27,080 --> 00:09:29,839 Speaker 1: But I have seen on TikTok people taking their rugs 200 00:09:29,880 --> 00:09:34,280 Speaker 1: to the car wash, so so maybe that could be 201 00:09:34,320 --> 00:09:36,440 Speaker 1: a money win. You just peg it up like you 202 00:09:36,520 --> 00:09:38,600 Speaker 1: do the floor mats and give it a little spray 203 00:09:38,600 --> 00:09:39,920 Speaker 1: a room and you're all good to go. 204 00:09:41,559 --> 00:09:43,840 Speaker 2: Don't do that to your silk persian rugs. We cannot 205 00:09:43,840 --> 00:09:46,240 Speaker 2: be responsible for the outcome of that. 206 00:09:46,920 --> 00:09:49,400 Speaker 1: What let's move on from this, George, What else have 207 00:09:49,480 --> 00:09:51,200 Speaker 1: you got to bring to the table today. 208 00:09:51,320 --> 00:09:54,600 Speaker 3: Our next little win here is from Josie So. She 209 00:09:54,679 --> 00:09:57,720 Speaker 3: created a Christmas fund this year. She wrote a list 210 00:09:57,760 --> 00:09:59,920 Speaker 3: of who she was buying for, including what she was 211 00:10:00,080 --> 00:10:03,240 Speaker 3: buying and where from, And she managed to buy everything 212 00:10:03,360 --> 00:10:05,640 Speaker 3: and had a few little extras and it all came 213 00:10:05,679 --> 00:10:07,760 Speaker 3: in at two hundred dollars under budget. 214 00:10:08,920 --> 00:10:12,400 Speaker 1: Two hundred bucks under budget. That's an epic money win. 215 00:10:12,559 --> 00:10:15,559 Speaker 3: Little bit of organization goes a long way, obviously. 216 00:10:15,840 --> 00:10:18,200 Speaker 1: I love that for you. I hope that's gone straight 217 00:10:18,240 --> 00:10:21,520 Speaker 1: back into savings or into the Christmas fun for next year. 218 00:10:21,960 --> 00:10:25,040 Speaker 3: Love that. Next win here is from Ashley, So her 219 00:10:25,040 --> 00:10:28,520 Speaker 3: partner and her made some homemade strawberry jam for all 220 00:10:28,559 --> 00:10:33,520 Speaker 3: of the people they would normally buy gifts, so delicious, wholesome, wholesome. Yes, 221 00:10:33,880 --> 00:10:36,679 Speaker 3: they went to the local farmer's market for fresh strawberries 222 00:10:36,720 --> 00:10:39,720 Speaker 3: and bought cute little matching jars from Silly Sully's, which 223 00:10:39,760 --> 00:10:41,920 Speaker 3: I feel like, I don't really know what that is. 224 00:10:42,040 --> 00:10:44,880 Speaker 3: I think this girl is from Queensland, so maybe like 225 00:10:44,880 --> 00:10:47,000 Speaker 3: a Regix kind of like you. 226 00:10:46,960 --> 00:10:53,199 Speaker 2: Know, yeah, who names their shop the reject shop? That 227 00:10:53,240 --> 00:10:57,640 Speaker 2: does not inspire consumer confidence in what I'm purchasing there. 228 00:10:57,400 --> 00:11:02,400 Speaker 1: But it's like a discount shops region stuff. Yeah, it's 229 00:11:02,400 --> 00:11:05,880 Speaker 1: like the stuff that got rejected, isn't it. It's the 230 00:11:05,920 --> 00:11:07,920 Speaker 1: reject shop? Are going to come for us and they're 231 00:11:07,920 --> 00:11:11,280 Speaker 1: going to be like, we are a legitimate institution, Jessica, Ricky. 232 00:11:11,280 --> 00:11:15,160 Speaker 2: That's I've we I'm so sorry to everybody listening. 233 00:11:16,120 --> 00:11:19,120 Speaker 3: Guys, Guys, I actually applied for a job at the 234 00:11:19,120 --> 00:11:21,680 Speaker 3: reject shop the year after school and did. 235 00:11:21,600 --> 00:11:22,320 Speaker 1: You get rejected? 236 00:11:22,480 --> 00:11:22,680 Speaker 2: Yeah? 237 00:11:22,679 --> 00:11:24,760 Speaker 3: I didn't the job. 238 00:11:25,080 --> 00:11:27,920 Speaker 1: So that was the story of how she ended up 239 00:11:28,000 --> 00:11:29,080 Speaker 1: and she's on money. 240 00:11:30,360 --> 00:11:30,760 Speaker 4: Oh yeah. 241 00:11:30,800 --> 00:11:33,800 Speaker 3: The win of that story, guys, was that she ended 242 00:11:33,880 --> 00:11:36,400 Speaker 3: up with gifts for eight people and it cost them 243 00:11:36,400 --> 00:11:41,080 Speaker 3: forty five dollars. So yes, thanks, that's incredible, incredible and 244 00:11:41,160 --> 00:11:42,880 Speaker 3: heartfelt and wholesome and delicious. 245 00:11:43,040 --> 00:11:46,479 Speaker 1: To be honest, I would adore getting jam from somebody 246 00:11:46,679 --> 00:11:49,120 Speaker 1: and they'd be like I made this. I'd be like, oh, 247 00:11:49,360 --> 00:11:52,080 Speaker 1: I love this, Like that's just it's so nice. 248 00:11:52,559 --> 00:11:54,960 Speaker 2: I feel like you can just tell, like, if someone 249 00:11:54,960 --> 00:11:57,400 Speaker 2: gives you homemade jam, you're like, Wow, you put a 250 00:11:57,480 --> 00:12:00,400 Speaker 2: lot of time into that gift, right, I. 251 00:12:00,360 --> 00:12:03,559 Speaker 1: Feel like it's really special. I feel like it's really undervalued. 252 00:12:03,600 --> 00:12:06,160 Speaker 1: And you're right, it's so wholesome. But it's also one 253 00:12:06,200 --> 00:12:09,240 Speaker 1: of those things where it's not a gift that you're 254 00:12:09,280 --> 00:12:10,800 Speaker 1: going to put on the shelf and be like, oh 255 00:12:10,800 --> 00:12:12,960 Speaker 1: my gosh, it's such a homemade gift that I just 256 00:12:13,000 --> 00:12:15,160 Speaker 1: don't know what to do with. Like, you consume it 257 00:12:15,280 --> 00:12:18,000 Speaker 1: and it's good, and you could probably reuse that jar 258 00:12:18,080 --> 00:12:21,120 Speaker 1: if she's gone and bought nice jars from somewhere. It's like, 259 00:12:21,520 --> 00:12:23,760 Speaker 1: I don't know, does it. Do you guys keep jars? 260 00:12:24,080 --> 00:12:26,040 Speaker 1: Like when you get a jar a pesto, do you 261 00:12:26,120 --> 00:12:27,360 Speaker 1: keep the jar? Do you throw the jar? 262 00:12:27,800 --> 00:12:28,320 Speaker 3: Keep the jar? 263 00:12:28,640 --> 00:12:30,720 Speaker 2: My mum had a stock pile of jars when I 264 00:12:30,760 --> 00:12:31,440 Speaker 2: lived at home. 265 00:12:31,600 --> 00:12:34,240 Speaker 1: I know, Like, how do you guys make salad dressings 266 00:12:34,280 --> 00:12:38,000 Speaker 1: if you don't have hoarded jars? I don't know. It's 267 00:12:38,040 --> 00:12:38,640 Speaker 1: a good point. 268 00:12:39,280 --> 00:12:44,720 Speaker 3: It's a good point. Our final win my voice saunds 269 00:12:44,880 --> 00:12:45,439 Speaker 3: so wed I. 270 00:12:45,400 --> 00:12:48,720 Speaker 1: Was like, ah, this whole episode is weird. Georgia King. 271 00:12:48,800 --> 00:12:51,160 Speaker 1: We are all like it's the end of the year party. 272 00:12:52,000 --> 00:12:52,920 Speaker 3: We're all drunk. 273 00:12:52,960 --> 00:12:56,480 Speaker 1: Okay, so last we haven't been drinking. I've got water 274 00:12:56,559 --> 00:12:57,120 Speaker 1: in front of me. 275 00:12:57,520 --> 00:13:01,000 Speaker 3: We just lost it, ye okay, So is our final 276 00:13:01,040 --> 00:13:03,679 Speaker 3: money win for the day. She had some extra end 277 00:13:03,679 --> 00:13:06,800 Speaker 3: of year income, and instead of splurging on a Christmas 278 00:13:06,800 --> 00:13:09,520 Speaker 3: present for herself, she put it to good use and 279 00:13:09,559 --> 00:13:12,600 Speaker 3: paid off her zippay accounts, her credit card and the 280 00:13:12,679 --> 00:13:14,160 Speaker 3: remaining balance on her hex. 281 00:13:14,200 --> 00:13:17,600 Speaker 1: It must have been quite aw what did you get paid? 282 00:13:18,360 --> 00:13:22,320 Speaker 3: Well done, Claire, that's so exciting. Yeah, oh my gosh. 283 00:13:22,360 --> 00:13:25,800 Speaker 1: I love hearing when people are treating themselves in a 284 00:13:25,840 --> 00:13:30,400 Speaker 1: different way. Like historically, going out buying an expensive dress 285 00:13:30,520 --> 00:13:32,400 Speaker 1: or a pair of shoes or something that you really 286 00:13:32,440 --> 00:13:35,679 Speaker 1: wanted for Christmas was the way that we treated ourselves, 287 00:13:35,840 --> 00:13:37,720 Speaker 1: whereas now people are like, Ah, I'm going to treat 288 00:13:37,760 --> 00:13:39,559 Speaker 1: myself by getting out of debt, or I'm going to 289 00:13:39,640 --> 00:13:42,080 Speaker 1: treat myself by setting up an emergency fund. And I 290 00:13:42,160 --> 00:13:45,199 Speaker 1: just think it's so special that we are slowly seeing 291 00:13:45,200 --> 00:13:49,800 Speaker 1: our community reframe what treat yourself looks like and we're 292 00:13:49,800 --> 00:13:52,800 Speaker 1: now treating ourselves with lots of respect and caring about 293 00:13:52,880 --> 00:13:55,760 Speaker 1: future us. And it just makes me so excited to 294 00:13:55,840 --> 00:13:57,960 Speaker 1: think that we might have played a very small part 295 00:13:58,000 --> 00:14:01,360 Speaker 1: in that journey, and that's just cool. Guys, welcome back 296 00:14:01,360 --> 00:14:04,800 Speaker 1: to the second part of this wild wild episode that 297 00:14:04,840 --> 00:14:08,080 Speaker 1: you probably didn't expect to have this level of energy. 298 00:14:08,720 --> 00:14:12,000 Speaker 1: Just this week. Speaking of wild things that I didn't 299 00:14:12,000 --> 00:14:15,880 Speaker 1: know existed, you introduced me to an idea. I think 300 00:14:15,920 --> 00:14:18,360 Speaker 1: it's more of a product or a service. It's not 301 00:14:18,400 --> 00:14:20,320 Speaker 1: really a news article, but you just thought it was 302 00:14:20,360 --> 00:14:22,120 Speaker 1: really cool and you wanted to share it with the 303 00:14:22,200 --> 00:14:24,400 Speaker 1: Shoes on the Money fam. What is it? Pitch it 304 00:14:24,440 --> 00:14:26,640 Speaker 1: to us, tell us what you have found that you 305 00:14:26,760 --> 00:14:27,760 Speaker 1: find so interesting. 306 00:14:27,960 --> 00:14:30,240 Speaker 2: So it is I did see an article about this, 307 00:14:30,360 --> 00:14:32,360 Speaker 2: but it's also something that I've seen a couple of 308 00:14:32,360 --> 00:14:36,320 Speaker 2: brands that I know and follow introducing. So we all 309 00:14:36,360 --> 00:14:38,520 Speaker 2: love investing in this office. We think it's great. We're 310 00:14:38,560 --> 00:14:40,120 Speaker 2: all about it. We talk about it all the time. 311 00:14:40,520 --> 00:14:44,240 Speaker 2: A couple of different companies have started offering the option 312 00:14:44,560 --> 00:14:48,080 Speaker 2: where you can purchase shares as a gift, and so 313 00:14:48,280 --> 00:14:51,040 Speaker 2: we have spoken on the podcast before about you know, 314 00:14:51,080 --> 00:14:54,400 Speaker 2: setting up your kids potentially with shares, you know, for 315 00:14:54,440 --> 00:14:57,120 Speaker 2: their future or something like that. But this is, I 316 00:14:57,120 --> 00:15:00,640 Speaker 2: guess a service where it's like buying a gift card. 317 00:15:00,960 --> 00:15:04,000 Speaker 2: So we've seen Chares's, our friends at Sharesy's have just 318 00:15:04,080 --> 00:15:07,200 Speaker 2: recently introduced this. But the article that I was reading 319 00:15:07,280 --> 00:15:11,360 Speaker 2: was actually specifically by a business called Upstreet, and the 320 00:15:11,400 --> 00:15:15,080 Speaker 2: whole purpose of it is to gift the equivalent of like, 321 00:15:15,160 --> 00:15:17,120 Speaker 2: let's call it a gift card in the same way 322 00:15:17,120 --> 00:15:19,000 Speaker 2: that you'd send an e gift card to like Cole's 323 00:15:19,040 --> 00:15:22,080 Speaker 2: Meyer or something like that, and you can choose from 324 00:15:22,280 --> 00:15:26,320 Speaker 2: there's like twenty top performing Australian brand shares on the ASX, 325 00:15:26,360 --> 00:15:29,760 Speaker 2: so there's Woolworths, Mali Spoon and a few different things 326 00:15:29,800 --> 00:15:32,600 Speaker 2: like that, as well as a selection of ETFs. So 327 00:15:33,560 --> 00:15:36,640 Speaker 2: obviously it's a limited selection that you can choose from. 328 00:15:36,680 --> 00:15:39,800 Speaker 2: I don't think it's super holistic, but you have the 329 00:15:39,880 --> 00:15:44,960 Speaker 2: option to send that share gift card I suppose straight 330 00:15:45,000 --> 00:15:47,880 Speaker 2: to somebody's email as their Christmas gift or Birthday gift. 331 00:15:47,960 --> 00:15:52,400 Speaker 1: How cool is that we are now gifting shares for Christmas? 332 00:15:52,400 --> 00:15:54,920 Speaker 2: I thought it was super interesting because I mean I 333 00:15:54,960 --> 00:15:57,920 Speaker 2: could imagine a lot of people, me included, going oh, well, 334 00:15:58,440 --> 00:16:01,520 Speaker 2: I'm super into empowering my self and future me. I 335 00:16:01,560 --> 00:16:03,400 Speaker 2: want to do that for someone else. Instead of buying 336 00:16:03,440 --> 00:16:05,960 Speaker 2: them a gift that they're going to use for maybe 337 00:16:05,960 --> 00:16:07,280 Speaker 2: a couple of months and then it's going to go 338 00:16:07,320 --> 00:16:09,640 Speaker 2: in the back of the closet, why not gift them shares? 339 00:16:10,160 --> 00:16:12,000 Speaker 2: And though that's what I wanted to ask you, Victora, 340 00:16:12,080 --> 00:16:14,120 Speaker 2: why not is there a catch twenty two here? 341 00:16:14,200 --> 00:16:16,240 Speaker 1: Look, I don't think that there's a catch twenty two. 342 00:16:16,360 --> 00:16:19,360 Speaker 1: I think it's really fun. Shares used to be completely 343 00:16:19,480 --> 00:16:21,600 Speaker 1: out of reach, like it used to be something where 344 00:16:21,640 --> 00:16:24,480 Speaker 1: it had a really high hurdle to get into. And 345 00:16:24,560 --> 00:16:27,080 Speaker 1: these platforms and our friends shares is I believe are 346 00:16:27,080 --> 00:16:29,640 Speaker 1: doing this as well, Jess. But on up Street it 347 00:16:29,680 --> 00:16:32,440 Speaker 1: starts at ten dollars, like that's probably what you were 348 00:16:32,440 --> 00:16:35,800 Speaker 1: going to spend anyway on a Christmas present. We're not saying, oh, 349 00:16:35,880 --> 00:16:38,840 Speaker 1: you now need to go buy this really expensive Christmas present. 350 00:16:39,240 --> 00:16:42,080 Speaker 1: You do have to keep in mind that with shares, 351 00:16:42,600 --> 00:16:45,480 Speaker 1: So say you go and buy a Tesla's share, any 352 00:16:45,560 --> 00:16:49,040 Speaker 1: income that you derive from owning that share does need 353 00:16:49,080 --> 00:16:52,960 Speaker 1: to be declared as income because it is taxable. But 354 00:16:53,000 --> 00:16:54,920 Speaker 1: that is okay. You just need to do the right 355 00:16:54,960 --> 00:16:57,080 Speaker 1: thing when it comes to doing your tax return, and 356 00:16:57,160 --> 00:16:59,000 Speaker 1: at the end of the day, you're only going to 357 00:16:59,040 --> 00:17:01,520 Speaker 1: be taxed on money that you are earning from that share, 358 00:17:01,560 --> 00:17:03,760 Speaker 1: so it's all okay. We just need to be aware 359 00:17:03,920 --> 00:17:06,119 Speaker 1: that when we gift someone to share, you are actually 360 00:17:06,119 --> 00:17:08,760 Speaker 1: gifting them the need to declare that on their tax 361 00:17:08,840 --> 00:17:11,679 Speaker 1: as well, so it's not just like gifting them a 362 00:17:12,240 --> 00:17:15,040 Speaker 1: Jarra strawberry jam that they pop in the cupboard and 363 00:17:15,160 --> 00:17:18,119 Speaker 1: forget about it is definitely something that they need to 364 00:17:18,160 --> 00:17:20,600 Speaker 1: maintain and make sure that they look after. And I'm 365 00:17:20,640 --> 00:17:25,000 Speaker 1: sure that there is a pretty arduous registration process for 366 00:17:25,160 --> 00:17:28,200 Speaker 1: the person you gift it to. So while you might 367 00:17:28,320 --> 00:17:31,240 Speaker 1: find it really easy to jump on board and purchase 368 00:17:31,280 --> 00:17:33,280 Speaker 1: a share and send it off and you've got this 369 00:17:33,400 --> 00:17:37,040 Speaker 1: beautiful gift card, I'm assuming that there is a registration 370 00:17:37,320 --> 00:17:40,560 Speaker 1: process where your family member or friend or whoever you're 371 00:17:40,560 --> 00:17:43,159 Speaker 1: gifting it to is going to need to then verify 372 00:17:43,240 --> 00:17:45,640 Speaker 1: their identity and all of that, because that would be 373 00:17:45,840 --> 00:17:48,760 Speaker 1: in line with Australian law of owning shares. So I 374 00:17:48,800 --> 00:17:50,960 Speaker 1: think that that's just worth keeping in mind. I don't 375 00:17:50,960 --> 00:17:53,240 Speaker 1: think it's a deterrent by any stretch of the imagination. 376 00:17:53,359 --> 00:17:55,520 Speaker 1: I'm just excited that we can gift people shares. 377 00:17:55,680 --> 00:17:58,879 Speaker 2: Yes, Georgia King, you don't need to raise your hands 378 00:17:59,240 --> 00:17:59,960 Speaker 2: is also your. 379 00:18:01,800 --> 00:18:01,960 Speaker 4: No. 380 00:18:02,080 --> 00:18:06,200 Speaker 3: So I'm just wondering who this would make a good 381 00:18:06,359 --> 00:18:09,679 Speaker 3: gift for, because I feel like you would need to 382 00:18:09,680 --> 00:18:14,040 Speaker 3: have some understanding of how shares work to make the 383 00:18:14,080 --> 00:18:15,840 Speaker 3: most of this, right, And if you just gave that 384 00:18:15,880 --> 00:18:19,520 Speaker 3: to like your sister Janine, who you know is not 385 00:18:19,680 --> 00:18:22,160 Speaker 3: good with money, but you're like, here's this, this will 386 00:18:22,160 --> 00:18:24,280 Speaker 3: help you out, and it'll just kind of go to 387 00:18:24,359 --> 00:18:27,000 Speaker 3: waste slash. I don't know, maybe be a bit patronizing. 388 00:18:27,040 --> 00:18:29,240 Speaker 3: Who do you think is the right market for this gift? 389 00:18:29,480 --> 00:18:31,159 Speaker 3: I feel like she's all the money listeners would be 390 00:18:31,160 --> 00:18:31,560 Speaker 3: into it. 391 00:18:31,760 --> 00:18:33,879 Speaker 1: Yeah, look, I think that she's on the money listeners 392 00:18:33,920 --> 00:18:36,280 Speaker 1: would be totally into it. But I also think it's 393 00:18:36,320 --> 00:18:40,160 Speaker 1: really important to just remember the tax implications and remember 394 00:18:40,320 --> 00:18:44,000 Speaker 1: that if you're planning on purchasing shares for children. Yes, 395 00:18:44,119 --> 00:18:47,480 Speaker 1: it sounds really really good, but children under the age 396 00:18:47,480 --> 00:18:51,160 Speaker 1: of eighteen cannot legally buy or wholly own shares, So 397 00:18:51,280 --> 00:18:54,560 Speaker 1: it might be possible to open a minor account with these. 398 00:18:54,640 --> 00:18:56,800 Speaker 1: I haven't looked into it, but it would need to 399 00:18:56,840 --> 00:18:59,600 Speaker 1: be registered under an adult's name until they're old enough, 400 00:18:59,600 --> 00:19:01,879 Speaker 1: and then when that minor turns eighteen, you can then 401 00:19:01,960 --> 00:19:07,040 Speaker 1: transfer ownership solely to them. Because you're not officially transferring ownership, 402 00:19:07,080 --> 00:19:09,520 Speaker 1: you shouldn't have to pay like capital gains tax when 403 00:19:09,560 --> 00:19:11,679 Speaker 1: you do. But the most important thing there would be 404 00:19:11,760 --> 00:19:14,800 Speaker 1: to get some tax advice. So yes, I think that's 405 00:19:14,840 --> 00:19:18,439 Speaker 1: actually a really good question when you say who's this for? 406 00:19:18,880 --> 00:19:21,080 Speaker 1: Because I think a lot of people would do potentially 407 00:19:21,119 --> 00:19:23,960 Speaker 1: what I did. And the first thing that I thought was, oh, 408 00:19:24,000 --> 00:19:26,000 Speaker 1: my gosh, how cool would it be to give this 409 00:19:26,040 --> 00:19:29,440 Speaker 1: to my nieces and nephews, Like that's epic. But that's 410 00:19:29,480 --> 00:19:32,280 Speaker 1: actually not going to be as feasible as you think 411 00:19:32,280 --> 00:19:34,320 Speaker 1: it is. And you might want to go the long 412 00:19:34,359 --> 00:19:36,960 Speaker 1: way around and have a listen to our episode about 413 00:19:36,960 --> 00:19:40,760 Speaker 1: investing for children, because this is probably not that appropriate. 414 00:19:41,080 --> 00:19:43,240 Speaker 1: But I would say people over the age of eighteen, 415 00:19:43,440 --> 00:19:45,720 Speaker 1: it is a solid present and I think it's a 416 00:19:45,840 --> 00:19:47,840 Speaker 1: very exciting thing that we have access to. 417 00:19:48,040 --> 00:19:54,120 Speaker 2: An interesting point there, my partner actually has never invested himself. However, 418 00:19:54,480 --> 00:19:57,040 Speaker 2: his I think it was potentially an aunt and uncle 419 00:19:57,119 --> 00:20:01,120 Speaker 2: or maybe his grandparents did purchase him a number of shares, 420 00:20:01,240 --> 00:20:03,840 Speaker 2: like when he was born, and so they I believe 421 00:20:03,840 --> 00:20:06,199 Speaker 2: they were held by his parents and transferred when he 422 00:20:06,240 --> 00:20:09,480 Speaker 2: turned eighteen from memory. Don't quote me, but what you 423 00:20:09,520 --> 00:20:12,160 Speaker 2: said George about it potentially going to waste, I think. 424 00:20:12,920 --> 00:20:15,160 Speaker 2: I mean, obviously it's going to depend on the fees 425 00:20:15,600 --> 00:20:18,640 Speaker 2: that are associated with wherever it's hosted. But for him, 426 00:20:18,840 --> 00:20:21,240 Speaker 2: like he never added to that, he's just held these 427 00:20:21,280 --> 00:20:23,720 Speaker 2: shares for you know, eighteen years by the time he 428 00:20:23,760 --> 00:20:26,240 Speaker 2: got it, and it wasn't a huge amount of money 429 00:20:26,280 --> 00:20:28,679 Speaker 2: that was put in, but it had still increased, like 430 00:20:28,720 --> 00:20:32,000 Speaker 2: it had just ticked away in the background. Obviously there 431 00:20:32,040 --> 00:20:34,720 Speaker 2: was enough in there that either it wasn't being hit 432 00:20:34,800 --> 00:20:37,679 Speaker 2: with fees or it was very nominal and there was 433 00:20:37,720 --> 00:20:39,720 Speaker 2: more there than when they purchased it, which I would 434 00:20:39,720 --> 00:20:42,120 Speaker 2: consider a win. And obviously not every share is going 435 00:20:42,160 --> 00:20:44,960 Speaker 2: to do that. We can't predict it. But if it 436 00:20:45,040 --> 00:20:47,800 Speaker 2: just sits there, there is the potential, right that it 437 00:20:47,840 --> 00:20:50,840 Speaker 2: will just kind of accumulate a little bit of compounding interest. 438 00:20:51,040 --> 00:20:53,600 Speaker 1: Yeah, of course. And that's the point of investing over 439 00:20:53,640 --> 00:20:56,280 Speaker 1: the long term, right, Like you're not gifting someone to share, 440 00:20:56,320 --> 00:20:58,680 Speaker 1: so you'd be like, hey, here's a piece of Tesler, 441 00:21:00,560 --> 00:21:03,879 Speaker 1: so that you give them long term, a asset that 442 00:21:03,960 --> 00:21:07,199 Speaker 1: will increase in value and hopefully pay them over the 443 00:21:07,200 --> 00:21:10,000 Speaker 1: long term. And I think that's the beauty of long 444 00:21:10,119 --> 00:21:14,200 Speaker 1: term investing. But I guess it's also important to say, well, yes, 445 00:21:14,280 --> 00:21:16,480 Speaker 1: you can still invest for kids. I'm not saying it's 446 00:21:16,520 --> 00:21:18,800 Speaker 1: not impossible. There are actually you know, I'm going on 447 00:21:18,840 --> 00:21:20,520 Speaker 1: a bit of a tangent here, only because I know 448 00:21:20,560 --> 00:21:22,320 Speaker 1: people are going to be like, well, Vitria, how do 449 00:21:22,359 --> 00:21:25,160 Speaker 1: we invest for children? There are two ways to invest 450 00:21:25,240 --> 00:21:27,320 Speaker 1: on behalf of kids who are under the age of eighteen, 451 00:21:27,640 --> 00:21:29,800 Speaker 1: which is actually all kids, because anyone over the age 452 00:21:29,840 --> 00:21:31,840 Speaker 1: of eighteen is actually an adult. So I don't know 453 00:21:31,880 --> 00:21:34,720 Speaker 1: where I'm going with that. But either a parent or 454 00:21:34,760 --> 00:21:38,560 Speaker 1: a relative is the client, they actually have the investment 455 00:21:38,600 --> 00:21:41,640 Speaker 1: portfolio held legally in their hame, or in a more 456 00:21:41,680 --> 00:21:44,960 Speaker 1: complicated way, you could actually use a family trust and 457 00:21:44,960 --> 00:21:48,040 Speaker 1: set up a discretionary family trust where the child is 458 00:21:48,080 --> 00:21:52,080 Speaker 1: the beneficiary and then the trust invests via a certain platform. 459 00:21:52,200 --> 00:21:54,719 Speaker 1: It's a little bit more complicated, but talk to your 460 00:21:54,720 --> 00:21:58,000 Speaker 1: financial advisor or talk to an accountant about that. I 461 00:21:58,040 --> 00:22:01,120 Speaker 1: think it's really important to know your options if that's 462 00:22:01,160 --> 00:22:03,720 Speaker 1: your plan. But unfortunately, I don't think gifting shares is 463 00:22:03,760 --> 00:22:05,480 Speaker 1: going to be the best thing to do for kids. 464 00:22:05,800 --> 00:22:07,639 Speaker 1: I also don't want to be too negative about it, 465 00:22:07,640 --> 00:22:10,800 Speaker 1: because it sounds really exciting and it's really potentially a 466 00:22:10,800 --> 00:22:13,840 Speaker 1: good way to get kids really interested in shares as well, 467 00:22:13,920 --> 00:22:16,280 Speaker 1: So I'm not saying don't do it, but you know, 468 00:22:16,440 --> 00:22:18,879 Speaker 1: as I said before, there are a fair few implications. 469 00:22:19,240 --> 00:22:22,480 Speaker 1: But also if you're purchasing a shared gift card and 470 00:22:22,520 --> 00:22:25,480 Speaker 1: then these kids have to wait until they're eighteen. Are 471 00:22:25,480 --> 00:22:27,280 Speaker 1: you still going to have that gift card? Are they 472 00:22:27,320 --> 00:22:29,159 Speaker 1: actually going to keep track of it? Or would have 473 00:22:29,200 --> 00:22:31,760 Speaker 1: been better to potentially do that in appearance name to 474 00:22:31,800 --> 00:22:34,560 Speaker 1: be transferred over A really good point. 475 00:22:35,200 --> 00:22:35,600 Speaker 3: It's just a. 476 00:22:38,480 --> 00:22:40,560 Speaker 1: Yeah, like I would have lost it. Like I've been 477 00:22:40,600 --> 00:22:43,560 Speaker 1: given multiple gift cards over my lifetime and I don't 478 00:22:43,600 --> 00:22:44,800 Speaker 1: know if they've even used them all. 479 00:22:45,080 --> 00:22:49,520 Speaker 3: While we're on the hot topic of investing miladies, let's 480 00:22:49,560 --> 00:22:51,920 Speaker 3: hear from this week's listener question. 481 00:22:52,840 --> 00:22:56,680 Speaker 4: Hi guys, I've got two questions. One is what are 482 00:22:56,840 --> 00:23:00,880 Speaker 4: franking credits? And the other is when I'm looking at 483 00:23:01,080 --> 00:23:03,960 Speaker 4: buying shares, what should I be researching and what should 484 00:23:03,960 --> 00:23:06,280 Speaker 4: I be looking into to make sure that I'm getting 485 00:23:06,359 --> 00:23:07,199 Speaker 4: the best shares? 486 00:23:07,680 --> 00:23:11,960 Speaker 3: Okay, take it away, VD, franking? What now? What's the 487 00:23:12,000 --> 00:23:12,840 Speaker 3: franking credit? 488 00:23:13,040 --> 00:23:16,880 Speaker 1: Franking credits are arguably one of the sexiest things in 489 00:23:16,920 --> 00:23:22,960 Speaker 1: the entire investment world. Yes, are you ready? Frank? Come 490 00:23:23,000 --> 00:23:25,760 Speaker 1: on over. If you've been dabbling in the investment world, 491 00:23:25,960 --> 00:23:28,160 Speaker 1: is very likely that you have come across the word 492 00:23:28,240 --> 00:23:33,840 Speaker 1: franked or unfranked dividends. So a franked dividend is one 493 00:23:33,880 --> 00:23:38,680 Speaker 1: that carries a franking credit. So that sounds very complex, 494 00:23:38,720 --> 00:23:41,160 Speaker 1: but I promise you it's not. It's also called an 495 00:23:41,200 --> 00:23:47,280 Speaker 1: imputation credit, not really even more complex. So essentially it's 496 00:23:47,320 --> 00:23:50,679 Speaker 1: a tax credit. So it is a tax credit that 497 00:23:50,840 --> 00:23:54,840 Speaker 1: exists to prevent double taxation over the long term. A 498 00:23:55,000 --> 00:23:59,560 Speaker 1: franked credit means that a company has paid tax on 499 00:23:59,800 --> 00:24:02,840 Speaker 1: that to share already, and that is a money win. 500 00:24:03,200 --> 00:24:06,240 Speaker 1: So double taxation is kind of like getting two pieces 501 00:24:06,320 --> 00:24:08,959 Speaker 1: out of one pie. And as the name suggests, it 502 00:24:09,080 --> 00:24:12,600 Speaker 1: usually occurs when the same income or asset is subject 503 00:24:12,640 --> 00:24:15,960 Speaker 1: to tax twice. And typically this happens when corporate and 504 00:24:16,040 --> 00:24:19,480 Speaker 1: personal profits intersect, as is the case when you have 505 00:24:19,560 --> 00:24:22,439 Speaker 1: a dividend. So a dividend is the profit that you 506 00:24:22,520 --> 00:24:24,960 Speaker 1: were paid for owning that share. So I use the 507 00:24:25,000 --> 00:24:28,399 Speaker 1: example of Tesla before. So we'll say Tesla made one 508 00:24:28,480 --> 00:24:31,639 Speaker 1: hundred dollars profit last year and they had one hundred investors, 509 00:24:31,880 --> 00:24:34,240 Speaker 1: So they divided that one hundred dollars between that one 510 00:24:34,280 --> 00:24:37,800 Speaker 1: hundred investors, and you made one dollar in dividends, which 511 00:24:37,840 --> 00:24:40,479 Speaker 1: is the profit you made for holding that share. Because 512 00:24:40,600 --> 00:24:44,200 Speaker 1: as a shareholder, you're a minor owner in that company, 513 00:24:44,400 --> 00:24:48,080 Speaker 1: which actually entitles you to part of the profit of 514 00:24:48,119 --> 00:24:51,199 Speaker 1: that company. So when you get a dividend paid to you, 515 00:24:51,560 --> 00:24:54,440 Speaker 1: it could be franked or unfranked, and when you get 516 00:24:54,480 --> 00:24:56,919 Speaker 1: paid to this dividend, it's really important to know the 517 00:24:56,960 --> 00:25:00,440 Speaker 1: difference because no one wants to be double taxed. So 518 00:25:00,840 --> 00:25:04,760 Speaker 1: under this system, the ATO recognizes that corporate tax has 519 00:25:04,800 --> 00:25:08,080 Speaker 1: already been paid on the profits, which means that you 520 00:25:08,240 --> 00:25:11,840 Speaker 1: only have to pay the different syntax. Say you own 521 00:25:11,840 --> 00:25:16,280 Speaker 1: a share and it pays you a dividend of seventy dollars. 522 00:25:16,640 --> 00:25:20,960 Speaker 1: Let's use the example of somebody. Her name is Brittany, 523 00:25:21,000 --> 00:25:24,120 Speaker 1: and Brittany earns thirty thousand dollars each and every single year, 524 00:25:24,400 --> 00:25:27,640 Speaker 1: and that puts her taxable income nineteen cents for every 525 00:25:27,680 --> 00:25:30,879 Speaker 1: dollar over eighteen thousand, two hundred dollars that she earns 526 00:25:30,960 --> 00:25:34,000 Speaker 1: each and every single year. So let's say she earns 527 00:25:34,080 --> 00:25:39,240 Speaker 1: a fully franked dividend of seventy dollars. Then because it 528 00:25:39,359 --> 00:25:42,760 Speaker 1: is a fully franked dividend, she gets given a franking credit, 529 00:25:43,000 --> 00:25:45,679 Speaker 1: and that franking credit on seventy dollars based on her 530 00:25:45,760 --> 00:25:49,440 Speaker 1: personal tax rate, will be thirty dollars. So her total 531 00:25:49,520 --> 00:25:53,040 Speaker 1: dividend income is actually going to be one hundred dollars, 532 00:25:53,600 --> 00:25:57,560 Speaker 1: meaning that her personal tax on dividend income is going 533 00:25:57,600 --> 00:26:01,560 Speaker 1: to be nineteen dollars. Then you take way that franking credit, 534 00:26:01,760 --> 00:26:05,080 Speaker 1: which means that the total tax refund that Britney receives 535 00:26:05,119 --> 00:26:08,640 Speaker 1: for her dividend will actually be eleven dollars. So essentially 536 00:26:08,680 --> 00:26:11,120 Speaker 1: she's going to end up with a refund. So businesses 537 00:26:11,160 --> 00:26:14,800 Speaker 1: are usually taxed at thirty percent, but because this person's 538 00:26:14,800 --> 00:26:18,280 Speaker 1: marginal tax rate is actually nineteen percent, they're going to 539 00:26:18,440 --> 00:26:21,040 Speaker 1: end up with a refund because they're not earning the 540 00:26:21,080 --> 00:26:24,359 Speaker 1: same amount of tax that the corporate entity is paying, 541 00:26:24,640 --> 00:26:27,560 Speaker 1: so they actually get a refund on that amount. Therefore 542 00:26:27,640 --> 00:26:30,560 Speaker 1: they make more money. And if you kind of like 543 00:26:30,640 --> 00:26:33,480 Speaker 1: extrapolate that out, that example was on one share. If 544 00:26:33,560 --> 00:26:37,240 Speaker 1: you extrapolate that out, franking credits are actually really really 545 00:26:37,359 --> 00:26:40,160 Speaker 1: powerful because one, it means you don't get double taxed. 546 00:26:40,359 --> 00:26:44,359 Speaker 1: But two, think about this, guys. Obviously, not everybody earns 547 00:26:44,480 --> 00:26:47,679 Speaker 1: under forty five thousand dollars to have nineteen cents for 548 00:26:47,760 --> 00:26:51,040 Speaker 1: every dollar over eighteeny two hundred dollars to pay each 549 00:26:51,080 --> 00:26:54,480 Speaker 1: and every single year. But where do we pay less 550 00:26:54,560 --> 00:26:59,000 Speaker 1: tax guys the answers in superannuation. As you look at 551 00:26:59,000 --> 00:27:07,120 Speaker 1: me like dull, it's yes, you genius, but yes, so 552 00:27:07,240 --> 00:27:12,600 Speaker 1: our supranuation tax environment is taxed at fifteen percent instead 553 00:27:12,600 --> 00:27:15,399 Speaker 1: of our marginal tax rate, which for a lot of 554 00:27:15,440 --> 00:27:19,480 Speaker 1: people on an average salary is about thirty two cents 555 00:27:19,520 --> 00:27:22,600 Speaker 1: for every dollar over forty five thousand dollars. So that's 556 00:27:22,760 --> 00:27:26,000 Speaker 1: that's reasonable. But if our marginal tax rate is about 557 00:27:26,000 --> 00:27:30,080 Speaker 1: thirty two cents, and then businesses are paying thirty cents 558 00:27:30,240 --> 00:27:33,720 Speaker 1: ish per dollar on tax, and then in our supranuation 559 00:27:34,000 --> 00:27:36,320 Speaker 1: environment we're only taxed at fifteen percent. Do you know 560 00:27:36,320 --> 00:27:40,960 Speaker 1: what that means? Are sweet sweet fifteen cents refund on 561 00:27:41,119 --> 00:27:45,120 Speaker 1: every dividend that was taxed, which means that you're making 562 00:27:45,160 --> 00:27:48,639 Speaker 1: more money in supranuation by holding an asset that is 563 00:27:48,680 --> 00:27:52,920 Speaker 1: franked there, which is why in the superannuation environment, franked 564 00:27:52,960 --> 00:27:56,199 Speaker 1: shares are very very sexy because they provide a number 565 00:27:56,200 --> 00:27:59,560 Speaker 1: of benefits above and beyond just holding them outside of 566 00:27:59,600 --> 00:28:04,000 Speaker 1: super Because, as you can probably understand, Jess, for example, 567 00:28:04,480 --> 00:28:08,360 Speaker 1: average salary, normal salary, I would say, very very good salary. 568 00:28:08,640 --> 00:28:11,639 Speaker 1: I'm your boss, what a legend, very well paid, but 569 00:28:11,880 --> 00:28:15,000 Speaker 1: thirty two cents in the dollar. That would then mean 570 00:28:15,080 --> 00:28:17,080 Speaker 1: that you're not really going to be able to benefit 571 00:28:17,119 --> 00:28:20,200 Speaker 1: from a refund because you actually pay more tax personally 572 00:28:20,240 --> 00:28:23,359 Speaker 1: than that business did. So franked not very helpful for you, 573 00:28:23,720 --> 00:28:26,720 Speaker 1: but in stuberinuation, very helpful because you are taxed at 574 00:28:26,760 --> 00:28:29,680 Speaker 1: a lower amount. So I'm really excited about this because 575 00:28:29,720 --> 00:28:31,840 Speaker 1: I think it's really important for us to understand that 576 00:28:31,880 --> 00:28:34,480 Speaker 1: it's not just about how much we get paid in 577 00:28:34,640 --> 00:28:37,359 Speaker 1: dividend each and every single year, and it's not just 578 00:28:37,480 --> 00:28:40,760 Speaker 1: how much our share increases in price, but there are 579 00:28:40,800 --> 00:28:44,040 Speaker 1: other things that play into this, like franking. So hopefully 580 00:28:44,040 --> 00:28:46,680 Speaker 1: that answered the question I reckon you did doll that 581 00:28:46,840 --> 00:28:48,680 Speaker 1: was did I do a good job or did I 582 00:28:48,760 --> 00:28:51,560 Speaker 1: just get too complicated? But I'm very excited about it. 583 00:28:51,760 --> 00:28:55,560 Speaker 1: But essentially, if you earn fully franked credits, it means 584 00:28:55,600 --> 00:28:57,680 Speaker 1: that the shareholder is getting a lot more bang for 585 00:28:57,720 --> 00:29:01,000 Speaker 1: their bucket in terms of dividends and investment returns. So 586 00:29:01,040 --> 00:29:04,320 Speaker 1: if you take any from that, fully franked credits are 587 00:29:04,480 --> 00:29:05,800 Speaker 1: very very sexy. 588 00:29:06,320 --> 00:29:07,400 Speaker 3: Okay, that's the takeaway. 589 00:29:07,400 --> 00:29:08,800 Speaker 1: Thank you for coming to tech Talk. 590 00:29:09,360 --> 00:29:11,240 Speaker 3: What about the second part of her question? 591 00:29:11,560 --> 00:29:13,320 Speaker 1: Oh, I was going to avoid that because I can't 592 00:29:13,360 --> 00:29:15,440 Speaker 1: give personal advice at the end of the day. As 593 00:29:15,480 --> 00:29:18,080 Speaker 1: we've said before, start by listening to our podcast and 594 00:29:18,120 --> 00:29:21,960 Speaker 1: reading my book and understanding what investment is. It's not 595 00:29:22,040 --> 00:29:25,680 Speaker 1: about picking the perfect company. It's actually about understanding what 596 00:29:25,720 --> 00:29:27,800 Speaker 1: your goals are, what your values are, how long you're 597 00:29:27,800 --> 00:29:31,560 Speaker 1: planning on holding those shares, what your ethics are, what 598 00:29:31,680 --> 00:29:35,120 Speaker 1: values are you going to overarch onto your share portfolio, 599 00:29:35,360 --> 00:29:38,680 Speaker 1: how are you going to get a well diversified portfolio. 600 00:29:38,680 --> 00:29:40,920 Speaker 1: Because it's not just about going and picking up one share, 601 00:29:41,160 --> 00:29:44,000 Speaker 1: it's about going and picking up a basket of shares 602 00:29:44,040 --> 00:29:46,520 Speaker 1: that work for you over the long term. And this 603 00:29:46,680 --> 00:29:50,160 Speaker 1: is often why our community really values and turns to 604 00:29:50,240 --> 00:29:53,680 Speaker 1: things like ETFs and managed funds because they don't have 605 00:29:53,720 --> 00:29:57,760 Speaker 1: to make these decisions on purchasing a direct share or 606 00:29:58,000 --> 00:30:01,040 Speaker 1: picking the shares themselves. They get to to essentially pick 607 00:30:01,040 --> 00:30:03,680 Speaker 1: a fund manager that makes those decisions for them, and 608 00:30:03,720 --> 00:30:06,440 Speaker 1: they put their trust in that. It's also why I'm 609 00:30:06,480 --> 00:30:09,720 Speaker 1: so passionate about my partnership with six Park, because they 610 00:30:09,760 --> 00:30:12,760 Speaker 1: do that hard work for you, and picking shares is 611 00:30:12,840 --> 00:30:15,800 Speaker 1: really hard, and it's not about picking one and then 612 00:30:15,840 --> 00:30:18,320 Speaker 1: having it forever. You've got to know when should I 613 00:30:18,360 --> 00:30:21,320 Speaker 1: sell this share? Is this share still serving me? Is 614 00:30:21,680 --> 00:30:24,680 Speaker 1: other board papers correct? Have you read there and your reports? 615 00:30:24,720 --> 00:30:28,400 Speaker 1: Do you fully understand them? Is my portfolio performing the 616 00:30:28,440 --> 00:30:31,120 Speaker 1: way it should? So there's look, there's lots of questions 617 00:30:31,160 --> 00:30:33,920 Speaker 1: when it comes to how do I pick the right company, 618 00:30:34,000 --> 00:30:36,600 Speaker 1: And to be honest, the way you pick the right 619 00:30:36,640 --> 00:30:39,400 Speaker 1: company for Victoria Devine is very different to how you 620 00:30:39,440 --> 00:30:41,440 Speaker 1: would pick it for Georgia and how you would pick 621 00:30:41,480 --> 00:30:44,240 Speaker 1: it for Jess because we are all different people. So 622 00:30:44,400 --> 00:30:47,040 Speaker 1: unfortunately I can't answer the question of how do you 623 00:30:47,080 --> 00:30:49,560 Speaker 1: pick a share? But the best place for you to 624 00:30:49,600 --> 00:30:52,960 Speaker 1: start is researching and understanding your own values and why 625 00:30:53,000 --> 00:30:56,320 Speaker 1: you're investing and what your investment timeframe is, as well 626 00:30:56,360 --> 00:31:00,320 Speaker 1: as really understanding your investment risk tolerance, so really understand 627 00:31:00,600 --> 00:31:02,520 Speaker 1: what that looks like for you, because you might be 628 00:31:02,520 --> 00:31:05,640 Speaker 1: super conservative, in which case the TELA shares probably not 629 00:31:05,680 --> 00:31:07,840 Speaker 1: the one for you, or you might be a really 630 00:31:07,960 --> 00:31:11,880 Speaker 1: high growth investor, in which case a completely different portfolio 631 00:31:12,040 --> 00:31:14,840 Speaker 1: is going to exist. So it's more about understanding you 632 00:31:15,280 --> 00:31:18,040 Speaker 1: and doing some research about what aligns to your values. 633 00:31:18,840 --> 00:31:19,480 Speaker 3: If people do. 634 00:31:19,560 --> 00:31:21,960 Speaker 2: When I have a squize at those annual reports, which 635 00:31:22,080 --> 00:31:25,000 Speaker 2: kind of detail what the company's done in terms of 636 00:31:25,040 --> 00:31:28,840 Speaker 2: product development and performance and finances. They're very long for 637 00:31:28,840 --> 00:31:31,200 Speaker 2: anyone who's never seen one. Where can people look to 638 00:31:31,200 --> 00:31:32,120 Speaker 2: find those You. 639 00:31:32,080 --> 00:31:34,400 Speaker 1: Can find them on the company's website. So if they're 640 00:31:34,440 --> 00:31:38,200 Speaker 1: an ASX listed company, they will be a publicly listed company, 641 00:31:38,240 --> 00:31:40,240 Speaker 1: which means all of their records public for you to 642 00:31:40,240 --> 00:31:42,960 Speaker 1: go and view. So you just head to their website 643 00:31:43,000 --> 00:31:46,000 Speaker 1: and if you scroll down to the bottom of most websites, 644 00:31:46,200 --> 00:31:50,560 Speaker 1: you'll have either shareholder information or investor information. Some places 645 00:31:50,600 --> 00:31:53,680 Speaker 1: have investor portals and all of that information will be there. 646 00:31:53,760 --> 00:31:54,280 Speaker 2: Amazing. 647 00:31:54,640 --> 00:31:57,560 Speaker 1: With that rant, I think it is time to wrap, guys, 648 00:31:57,800 --> 00:32:02,880 Speaker 1: but before that, have the best day tomorrow. Enjoy Christmas. 649 00:32:03,120 --> 00:32:05,520 Speaker 1: We cannot believe that we have been lucky enough to 650 00:32:05,520 --> 00:32:09,040 Speaker 1: spend another is it another year hanging out with you guys. 651 00:32:09,440 --> 00:32:13,240 Speaker 1: Festive episodes are literally my favorite because we're all very excited. 652 00:32:13,480 --> 00:32:15,600 Speaker 1: As you guys could probably tell from the start of 653 00:32:15,640 --> 00:32:18,240 Speaker 1: this episode, we're a little bit loopie, we've lost it 654 00:32:18,360 --> 00:32:21,640 Speaker 1: a little bit. We're all very excited, But enjoy the 655 00:32:21,680 --> 00:32:24,480 Speaker 1: festive season. Be kind to one another and most importantly, 656 00:32:24,520 --> 00:32:28,640 Speaker 1: be kind to yourself. But as always, just before we 657 00:32:28,720 --> 00:32:31,480 Speaker 1: head off, we'd like to acknowledge and pay respect to 658 00:32:31,560 --> 00:32:35,600 Speaker 1: Australia's Aboriginal and Tory Straight Islander people's they're the traditional 659 00:32:35,680 --> 00:32:38,960 Speaker 1: custodians of the lands, the waterways and the skies all 660 00:32:39,040 --> 00:32:42,400 Speaker 1: across Australia. We thank you for sharing and for caring 661 00:32:42,440 --> 00:32:44,520 Speaker 1: for the land on which we are able to learn. 662 00:32:44,840 --> 00:32:47,840 Speaker 1: We pay respect to elders past and present, and we 663 00:32:47,880 --> 00:32:49,840 Speaker 1: share our friendship and our kindness. 664 00:32:50,200 --> 00:32:52,640 Speaker 3: And remember, guys, that the advice shared on She's on 665 00:32:52,680 --> 00:32:55,520 Speaker 3: the Money is general in nature and does not consider 666 00:32:55,640 --> 00:32:59,640 Speaker 3: your individual's circumstances. She's on the Money exists purely for 667 00:32:59,800 --> 00:33:02,760 Speaker 3: edge occasional purposes and should not be relied upon to 668 00:33:02,760 --> 00:33:06,280 Speaker 3: make an investment or a financial decision. And we promise 669 00:33:06,440 --> 00:33:10,480 Speaker 3: Victoria Divine is an authorized representative of Australia Pacific Funds 670 00:33:10,480 --> 00:33:14,760 Speaker 3: Management Proprietary Limited ABN three four one three two four 671 00:33:14,840 --> 00:33:17,600 Speaker 3: six three two five seven AFOSL three three nine one 672 00:33:17,640 --> 00:33:18,080 Speaker 3: five one. 673 00:33:18,240 --> 00:33:19,560 Speaker 1: See you next week, guys. 674 00:33:19,600 --> 00:33:21,720 Speaker 2: Merry Christmas, Merry Christmastmas.