Speaker 1: Hello.
Speaker 2: My name's Santasha Nabananga Bamblet. I'm a proud yr the
Speaker 2: Order Kerni Whoalbury and a waddery woman. And before we
Speaker 2: get started on She's on the Money podcast, I would
Speaker 2: like to acknowledge the traditional custodians of the land of
Speaker 2: which this podcast is recorded on a wondery country, acknowledging
Speaker 2: the elders, the ancestors and the next generation coming through.
Speaker 2: As this podcast is about connecting, empowering, knowledge sharing and
Speaker 2: the storytelling of you to make a difference for today
Speaker 2: and lasting impact for tomorrow.
Speaker 1: Let's get into it.
Speaker 3: She's on the Money. She's on the Money.
Speaker 4: Hello, and welcome to Money, the podcast for millennials who
Speaker 4: want financial freedom.
Speaker 1: And to read a lot of books. Exactly right.
Speaker 4: My name is Dodger King and joining me as she
Speaker 4: always does, is Victoria Divine.
Speaker 1: It's book Day. It's book Day. It's book Day. So
Speaker 1: remember that time that I was like, let's start book
Speaker 1: club and then maybe on the end of Friday drinks,
Speaker 1: he'll tell you about a book that I really want
Speaker 1: to share with you. Do you know what we're doing now?
Speaker 1: We're just doing book episodes and this is five finance
Speaker 1: books that Victoria Divine believes will change your entire life.
Speaker 1: I have long wanted to do an entire She's on
Speaker 1: the Money book club. This is like, is this a
Speaker 1: soft launch hard launch? Maybe hard launch hard launch? A
Speaker 1: book club. So it's kind of like the best type
Speaker 1: of book club as well. It's the book club where
Speaker 1: you don't have to read the book. Like you turn
Speaker 1: up to book club, you get the wine, you get
Speaker 1: to have the cheese. I'll just tell you what happened
Speaker 1: in the book. You get to socialize, and then you
Speaker 1: go home a little bit smarter.
Speaker 4: That is the ideal, isn't it.
Speaker 1: That's the type of book club I really want to
Speaker 1: be involved in, because like I always used to want
Speaker 1: to be involved in book club, and then I realized
Speaker 1: you had to read the book by the period of
Speaker 1: time and that was never going to happen for me.
Speaker 4: So basically, you're selling me these books, which is a
Speaker 4: hard cell because you know me don't love finance.
Speaker 1: I'm kidding.
Speaker 4: I love it using the money.
Speaker 1: You like learning about it. I feel yeah, because like
Speaker 1: once you get it, you're like, oh my god, I
Speaker 1: love this, and then I'm like I'm telling you you
Speaker 1: love this for a really long time, but it just
Speaker 1: takes a little bit. It's true, a bit, it's true.
Speaker 4: So are there different categories of books that we're speaking
Speaker 4: about today? These are very eclectic.
Speaker 1: None of these are sponsored posts. Most of the people
Speaker 1: are either dead or they're overseas so I've never met them.
Speaker 1: They're just genuinely my number ones. Also, there's a book,
Speaker 1: it's the number one, that I'm going to recommend again
Speaker 1: and again and again. It comes up every time you
Speaker 1: ask me about books. I have already done a book
Speaker 1: club on it. So I'm going to gloss over it,
Speaker 1: but I'm actually going to talk about it again because
Speaker 1: if we're talking about five books that could change your life,
Speaker 1: like it has to be in there absolutely. So do
Speaker 1: you want to know?
Speaker 4: Do you want to start with number one?
Speaker 1: Do you have a wine? No, it's too early for
Speaker 1: a wine. It's Wednesday.
Speaker 4: I've got a lightly sparkling spring water to hydrate my senses,
Speaker 4: thank you, will Worth.
Speaker 1: Yeah, it's nice. We are not buying brad name water.
Speaker 1: Are you ready for book number one? Georgia King? All right,
Speaker 1: so book number one is going to be absolutely no
Speaker 1: surprise to She's on the money. Community members It is
Speaker 1: the richest man in Babylon. It is by a guy
Speaker 1: called George S. Klassen, and it was written George in
Speaker 1: nineteen twenty six, a long time ago, at least one
Speaker 1: hundred years. The driest finance book you will read ever.
Speaker 1: Nobody actually wants to pick this up. And even if
Speaker 1: you google it, you're like, they didn't even try to
Speaker 1: try and convince me with the cover. It looks bland.
Speaker 1: It looks like, you know, when you had to read
Speaker 1: Animal Farm by George loved Animal Fair but the cover
Speaker 1: nothing to write home about, wasn't it?
Speaker 4: You googling, I'm googling, I'm live googling. Okay, I see
Speaker 4: what they've done there. There's a lion walking up. Some
Speaker 4: looks like a.
Speaker 1: Ramp, a fancy version. Mine's just yellow and red. And
Speaker 1: it's very boring. But it is the book that everybody
Speaker 1: comes back to because it is the first ever finance
Speaker 1: book from my own The starning ploye is correction if
Speaker 1: I'm wrong, but do it in my DM so it's
Speaker 1: not so public. But it is the first book on money.
Speaker 1: Mindset is the first book that really compares and contrasts
Speaker 1: rich mindset and you know, daily grind mindset. It is
Speaker 1: all about putting you in the best possible position by
Speaker 1: teaching you the value of compound interest. And from my perspective,
Speaker 1: this book is powerful because it's the first one that
Speaker 1: does that. And it goes back to like Babylonian times,
Speaker 1: where it's like, okay, cool, Like, let's go back to
Speaker 1: Babylonian times and actually talk about what it means to invest.
Speaker 1: And they're not talking about investing in shares. They're actually
Speaker 1: talking about investing in themselves and putting some money away
Speaker 1: for rainy days. And you know, if you're going to
Speaker 1: buy a diamond, George, would you get advice from a
Speaker 1: bricklayer to do that or would you go to somebody
Speaker 1: who specializes in gems. It's really about mindset and getting
Speaker 1: the right advice.
Speaker 4: All right, But I'm loving your passion. But I am
Speaker 4: so passionate.
Speaker 1: I've read this book so many times and it's so
Speaker 1: dry and it doesn't get easier, but it's just good. Okay,
Speaker 1: so I'll read it for you.
Speaker 4: Yeah, perfect, let's liken sit down. Though in three sentences,
Speaker 4: this book tells us.
Speaker 1: What it tells us so much more, like I need
Speaker 1: more than three sentences, but first thing that you might
Speaker 1: learn from this book is that it wants you to
Speaker 1: say at least ten percent of everything that you earn,
Speaker 1: and it doesn't want you to confuse your necessary expenses
Speaker 1: with your desires. Does that sound familiar, Yes, it died.
Speaker 1: The second sentence I would use is it tells you
Speaker 1: to work hard to improve your skills to ensure a
Speaker 1: future income, because wealth is a result of reliable income
Speaker 1: stream production. Interesting. And then the third lesson I would
Speaker 1: say here is that you cannot arrive at the fullest
Speaker 1: measure of success unless you crush the spirit of procrastination
Speaker 1: within you. I love that I have not achieved that
Speaker 1: I have a lot of im and not do that.
Speaker 4: You need to crush the spirit of procrastination.
Speaker 1: V See it's written in that tone of voice as well.
Speaker 1: So it's just like the highest thing. You know how
Speaker 1: Sometimes you read a book and you'll be like, I
Speaker 1: need to read that sentence again. Yeah, that's this book.
Speaker 4: One of those. All right, it sounds like a pillar.
Speaker 4: Give us the seven simple rules of money. I remember
Speaker 4: we spoke about this yea now Faturday Drinks episode. Let's
Speaker 4: go over them again.
Speaker 1: Yes, we have. So there's seven simple rules So Number one,
Speaker 1: Georgia is start thy purse to fattening. Sure, so start
Speaker 1: saving money. Fat wallo, we love it. Fat waller equals
Speaker 1: good according to this book. Number two is control thy expenses,
Speaker 1: so don't spend more than you need to. Number three
Speaker 1: is make thy gold multiply and invest wisely. Number four
Speaker 1: is guard thy treasures from loss, so avoid investments that
Speaker 1: sound too good to be true. I feel like this
Speaker 1: is all so important, and I say it's such a
Speaker 1: pivotal finance book because even though it was written in
Speaker 1: nineteen twenty six, it's just all valid today. Like how
Speaker 1: many times have you seen people get swept up with
Speaker 1: multi level marketing? Yeah, because this sounds so great, I'm
Speaker 1: gonna get so rich. Oh my god, I'm going to
Speaker 1: be side hustling. No you're not, sit down, sir. So
Speaker 1: Number five is make thy dwelling a profitable investment and
Speaker 1: own your own home. So they're maybe not Yeah that's
Speaker 1: nineteen twenty six, Like guys do here that we're spending
Speaker 1: all our money on ABC now, Like okay, move on,
Speaker 1: But also you could like rent out your house on AIRBNBA,
Speaker 1: so maybe like we can switch that one out. Number
Speaker 1: six ensure future income, so protect yourself with life insurance.
Speaker 1: So obviously in nineteen twenty six they weren't talking about
Speaker 1: life insurance in the same way we are, but obviously
Speaker 1: very important. And then number seven is improve thy ability
Speaker 1: to earn, So strive to become wiser and more knowledgeable
Speaker 1: and that will thus increase your income. Kind of cool, right,
Speaker 1: incredibly Uh good tips.
Speaker 4: I think that's a contribution from me. They've stood the
Speaker 4: test of time.
Speaker 1: And that's why I always go back to it when
Speaker 1: people are like, I really want to learn about money,
Speaker 1: I'm like, Okay, I know this is such a blend recommendation,
Speaker 1: and that's why I've spoken about it so much on
Speaker 1: the podcast. So hopefully you can learn some things and
Speaker 1: maybe like follow along in the book, maybe have a
Speaker 1: listen to it in the car, like an audiobook might
Speaker 1: be easier. I can't imagine how dry that audiobook could be.
Speaker 4: They need a fun present.
Speaker 1: I'm going to get it. I'm going to do an
Speaker 1: audiobook on No, I would not. It was too hard
Speaker 1: to record my own. Okay.
Speaker 4: Now, so we love like the longevity of his tips
Speaker 4: here Vabe, but why is this book so groundbreaking?
Speaker 1: Because he was mad Dog, So George Georgie Boy mad Dog.
Speaker 1: So he was an American. He's an American author that
Speaker 1: was born in eighteen seventy four. And this is obviously
Speaker 1: his best known book because it's the only one that
Speaker 1: we are putting on this list. He actually had two companies,
Speaker 1: of which were called the Classton Map Company, which was
Speaker 1: the first to publish a road atlas in the US
Speaker 1: and in Canada. And then this book, The Richest Man
Speaker 1: in Babylon, actually came from him writing a series of
Speaker 1: informational pamphlets about being thrifty and how to achieve financial success,
Speaker 1: and then it became a book. Kind of cool, Ah,
Speaker 1: there you go. So how the podcast became a book?
Speaker 1: When She's on the money? It all ties to kill
Speaker 1: me classen, I love it. But he started writing pamphlets
Speaker 1: in nineteen twenty six and then used parables that were
Speaker 1: set in ancient Babylon to kind of teach people. And
Speaker 1: then this all rolled into The Richest Man in Babylon,
Speaker 1: which is called The Richest Man in Babylon The Success
Speaker 1: Secrets of the Ancients. And then he's the guy who
Speaker 1: has been credited to coining the phrase pay yourself first.
Speaker 4: Ah, kind of cool.
Speaker 1: Wow, there you go.
Speaker 4: Yeah, a good recap of the richest man in Babylon. Yeah,
Speaker 4: shall we move on to a Rich Dad, Poor Dad?
Speaker 1: Oh? I just out of all right, Well that is
Speaker 1: number two for any of those who wanted any.
Speaker 4: Type of weight.
Speaker 1: But yes, we're going to talk about Rich Dad, Poor
Speaker 1: Dad by Robert Kiyosaki. And that was written in nineteen
Speaker 1: ninety seven. You're alive, then, won't you. Yeah, you're only small.
Speaker 4: I was three, I was six.
Speaker 1: Okay, we could have been such good little friends.
Speaker 4: Yeah, we would have been little angels.
Speaker 1: We wouldn't have shut down. I was like that older
Speaker 1: annoying cousin. I okay, yeah that was me.
Speaker 4: And so it goes on.
Speaker 1: This book has been very popular in our community. It
Speaker 1: is a book that so many people recommend. We've had
Speaker 1: a few threads in our Facebook group historically where people
Speaker 1: have been like, recommend your favorite finance books, and this
Speaker 1: one often comes up as number one for very good reason.
Speaker 4: Tell me in three sentences why.
Speaker 1: I feel like this three sentences? What you're really attached to,
Speaker 1: isn't it? Yeah? So, Rich Dad, Poor Dad is about
Speaker 1: Robert Kiyosaki and his two dads. So his actual real father.
Speaker 1: He's what he calls in the book poor Dad, and
Speaker 1: the father of his best friend who is known as
Speaker 1: rich Dad. And the entire book is about the ways
Speaker 1: both of these men have shaped his mindset around money
Speaker 1: and investing and life and how they approach different circumstances.
Speaker 1: And it really compares and contrasts like rich spending versus
Speaker 1: poor spending. So you've probably seen me talk historically about
Speaker 1: you know, obviously we go back to George's book and
Speaker 1: call it pay yourself first, but paying yourself first and
Speaker 1: investing and saving before spending the leftover, whereas poor spending
Speaker 1: is really about spending and then saving and investing what's
Speaker 1: left over. So it's about kind of flipping those mentalities
Speaker 1: and what one works better. And I think that it's
Speaker 1: obvious we all want to create wealth, and we all
Speaker 1: say pay yourself first and invest first, because if you
Speaker 1: allocate it first, it's going to be the priority. And
Speaker 1: that makes sense, and that's what this book is about.
Speaker 1: So it's really about the ways that both of these
Speaker 1: men interacted. And then Robert's kind of like this third
Speaker 1: party to the conversation where he kind of interprets what
Speaker 1: that means and compares the dads against themselves. There's a
Speaker 1: few things in it that I don't love, because I
Speaker 1: obviously don't love comparing and contrasting. And there's obviously a
Speaker 1: lot of privilege that comes from wealth that I don't
Speaker 1: think gets acknowledged in this book. But I do think
Speaker 1: it is quite powerful when it comes to mindset. And
Speaker 1: you'll probably notice that when I talk about money and
Speaker 1: talk about investing, I'm not here going read this investing
Speaker 1: for beginner's guide. We'll get to that, but I'm not
Speaker 1: telling you to read that book because I actually really
Speaker 1: want to set your mindset up properly before we get
Speaker 1: into investing, because what's the point in getting you to
Speaker 1: invest if you don't see the point? And what's the
Speaker 1: point in getting you to invest if you don't have
Speaker 1: the right framework and structure and mindset around it. That
Speaker 1: second sentence, because like this, that was the first one.
Speaker 1: The second one is that you don't need a high
Speaker 1: income to become rich, which is pivotal in the show
Speaker 1: on the Money community, like, we're not actually trying to
Speaker 1: get rich here, We're actually trying to create wealth. But
Speaker 1: to create wealth, we actually don't need a high income
Speaker 1: it's really about what you are spending, not about what
Speaker 1: you are earning. I've said this a million times, Like
Speaker 1: somebody who is earning less but investing a fair bit
Speaker 1: is going to end up long term in a better
Speaker 1: position than someone who has a ridiculously high income and
Speaker 1: he's living their best life and blowing it all. Yeah.
Speaker 1: The third sentence that I would say summarizes this book
Speaker 1: is that rich people make their money work for them.
Speaker 1: And I say this all the time. Make your money
Speaker 1: work as hard as you do for it, so it's
Speaker 1: not just sitting in a bank account waiting for you
Speaker 1: to spend it one day. It's out earning something. Every
Speaker 1: dollar in your account needs to have a job. And
Speaker 1: that is, you know, one of the other pivotal things
Speaker 1: in that book that I think is really important, Like
Speaker 1: where is that dollar going to work? George? It might
Speaker 1: actually be going to work in a emergency fund, in
Speaker 1: which case it's job is to sit there and wait
Speaker 1: for it to be spent on a rainy day. But
Speaker 1: if it's an income generating dollar that's coming, what is
Speaker 1: that going to do? How is it going to work
Speaker 1: for you? And I think that those those are my
Speaker 1: three very loving takeaways sentences from that book.
Speaker 4: When he talks about rich Dad in She's on the
Speaker 4: Money language, would we call that wealthy Dad because you
Speaker 4: know rich is like, yeah, I think image of wealth
Speaker 4: whe his wealth is actually actual financial freedom.
Speaker 1: Would you you are? You are on the money? Georgia King,
Speaker 1: Thank you so much, But yeah, I do steer away
Speaker 1: from using words like rich because I think rich is
Speaker 1: very It's the Chanel bag. Yes, it's the visual markers
Speaker 1: of money that don't necessarily mean you are in a
Speaker 1: better financial position. It's you know, I would like to
Speaker 1: think that influencers. I would love to think that all
Speaker 1: my influencer client's actually wealthy, but like it's kind of
Speaker 1: seeing influences where dere and Prada and all of these
Speaker 1: fancy brands all the time it's rich, it's just stuff,
Speaker 1: like it's not actually putting them in a better position.
Speaker 1: I think underlyingly, everybody needs to be working towards wealth,
Speaker 1: not richness, because it's actually wealth is hidden. It shouldn't
Speaker 1: be private, but it's definitely hidden and you just don't
Speaker 1: see it. Like Georgie, walk down the street and I've
Speaker 1: got no idea what's in your savings account? I've got
Speaker 1: no idea what you're investing in. And that's cool, But
Speaker 1: like you walk down the street with a Chanel bag
Speaker 1: and everyone knows you're carrying ten grand, Like, that's not
Speaker 1: putting you in a better financial position. So I think
Speaker 1: wealth is all about future you, and rich is all
Speaker 1: about today you and their actual needs. And that's not
Speaker 1: nearly as sexy. One hundred percent the five big ideas
Speaker 1: from Robert Kosaki's book, La the Mommy. Number one, the
Speaker 1: poor and the middle class work for money. The rich
Speaker 1: have money at work for them. Number two is it's
Speaker 1: not how much money you make that matters, it's how
Speaker 1: much you get to keep. Number three. Rich people acquire assets,
Speaker 1: the poor and middle class acquire liabilities that they think
Speaker 1: are assets. Yeah, it's a bit of a savage point,
Speaker 1: isn't it. Number four Financial aptitude is what you do
Speaker 1: with money once you make it, how you keep people
Speaker 1: from taking it from you, how to keep it longer,
Speaker 1: and how to make money work harder for you. So
Speaker 1: you're kind of getting the vibe of what this book
Speaker 1: is all about with fourth point, which is basically the
Speaker 1: same as the first three. And then number five is
Speaker 1: the single most powerful asset we all have is our minds.
Speaker 1: So true, kind of cool.
Speaker 4: So this is very much like a mindset book and
Speaker 4: understanding how we relate to money.
Speaker 1: Yet you're probably not surprised that the case. But yes,
Speaker 1: what are some of the key vibes in the book
Speaker 1: that are knocked your socks off? My favorite one is
Speaker 1: so I'm all about like behavioral investment and like emotional investment.
Speaker 1: I talk about this a lot. And the first one
Speaker 1: is that quote people's lives are forever controlled by two emotions,
Speaker 1: fear and greed. The next thing that I really liked
Speaker 1: was quote so many people say, oh, I'm not interested
Speaker 1: in money, yet they'll work a job for eight hours
Speaker 1: a day. That kicks you in the shins a little bit.
Speaker 1: You're like, yeah, I don't care about money. Oh gayb'll
Speaker 1: blay you're going to earn it. Then the next one
Speaker 1: is an asset puts money in your pocket. A liability
Speaker 1: takes money out of your pocket.
Speaker 4: Makes sense.
Speaker 1: And then the last one that I thought was pretty
Speaker 1: powerful is, once you understand the difference between assets and liabilities,
Speaker 1: concentrate your efforts on buying income generating assets. Nice, I wrote,
Speaker 1: sheese on the money, and that's just basically like, here's
Speaker 1: how to do your banking, here's how to set all
Speaker 1: of this up, and like I basically just borrowed all
Speaker 1: of these people's hot tips and puts in one book and.
Speaker 4: We will get to that feed. You want to give
Speaker 4: us an example of an asset and a liability.
Speaker 1: Yes, Sexy, we spoke about this the other week when
Speaker 1: we were talking about financial reporting and we were talking
Speaker 1: about profit and loss. But essentially, an asset is something
Speaker 1: that's going to do one of two things for you.
Speaker 1: It's either going to be able to be sold for
Speaker 1: money or is going to be able to generate you
Speaker 1: in income. So that could be like an investment property,
Speaker 1: it could be a share, it could be money in
Speaker 1: your bank account, it could be something that's helping you,
Speaker 1: whereas a liability is something that's going to cost you money.
Speaker 1: You could think in earlier we said, you know, poor
Speaker 1: people get confused and think that liabilities are actually assets
Speaker 1: a car loan where they're like, oh, but I get
Speaker 1: the car. Well, it actually decreases in value over time
Speaker 1: and you're not actually getting that much out of your
Speaker 1: actually ending up in a worse off position. And that's
Speaker 1: one of the things that grinds my gears when people
Speaker 1: are like yeah, but I like, I'll own the car outright,
Speaker 1: and I'm like, yeah, after how much money is poured
Speaker 1: into it? Okay sir. Yeah, it's being confused about wealth
Speaker 1: assets as well, So spending money on things that you
Speaker 1: can't get back. Another thing would be like credit card debt,
Speaker 1: so they'll be like, oh, just paid off later, and
Speaker 1: it's kind of like, no, that's actually a massive liability,
Speaker 1: putting you further behind on the wealth creation journey. So
Speaker 1: a liability is something that puts you in debt or
Speaker 1: keeps you in debt, and asset is something that creates
Speaker 1: income for you. Perfect cool.
Speaker 4: Before we move on to our next book, fee, which
Speaker 4: I won't spoil, can you tell us a little bit
Speaker 4: about mister Robert Kyosaki.
Speaker 1: I can. I feel like his name has gotten a
Speaker 1: pretty bad rap recently because there have been a number
Speaker 1: of like what would you call them, like workshops and
Speaker 1: things that are run under his name. So it's like
Speaker 1: rich dad, poor dad. Workshops around the world have kind
Speaker 1: of taken off and they actually have nothing to do
Speaker 1: with him.
Speaker 2: Really.
Speaker 1: Yeah, they're like investing scheme things. You've got to be
Speaker 1: really careful, Like the book is good, but the workshops
Speaker 1: not so good. They'll like take you along and like
Speaker 1: sell you an investment dream and tell you all the
Speaker 1: principles of this book and how great it is. And
Speaker 1: then they'll be like, but you need to invest your
Speaker 1: ro It's twenty thousand dollars upfront. Sign here on the
Speaker 1: dogline and it's actually terrifying. So don't do that. But
Speaker 1: tell you a little bit about Robert himself. He's an
Speaker 1: entrepreneur and an investor and author who teaches financial literacy,
Speaker 1: what a guy and independence through books, videos, and seminars.
Speaker 1: So he started off being very good. He is a Hawaiian.
Speaker 1: He was born in nineteen forty seven and went into
Speaker 1: the military. He actually also served in Vietnam, which is
Speaker 1: very powerful. And then in nineteen seventy seven he started
Speaker 1: a company that brought to market the first nylon and
Speaker 1: Velcrow surfers wallets.
Speaker 4: I love Velcrow wallets.
Speaker 1: Do you do you still have one? I used to
Speaker 1: have a roxy one and it was like with red
Speaker 1: edging girl, but like, do you remember the fabric that
Speaker 1: their wallets were made out of? And if you got
Speaker 1: the velcro on the wrong part of the wallet. The
Speaker 1: wallet kind of ended up a little bit. Yeah, it
Speaker 1: was really messy, but I didn't want to get a
Speaker 1: new one because they were really expensive. Down a Poincila Surf.
Speaker 4: So financiala surf. I love it.
Speaker 1: Me and my trigger track is and my havanas walking
Speaker 1: into pinitial A Surf to get a new wallet. Coolest girl.
Speaker 1: But essentially that company did end up going bankrupt. George,
Speaker 1: we were so I was so excited about the wallets.
Speaker 1: We were the only ones that loved that. But that
Speaker 1: company did go bankrupt, as did his second company, I'm sorry.
Speaker 1: Before he started teaching entrepreneurship investing in social responsibility, which
Speaker 1: I find a bit rich from a guy who.
Speaker 4: Has so canceled that. That is bizarre that someone with
Speaker 4: failed businesses could become such a famous entrepreneur.
Speaker 1: I feel like this is so common, and I really.
Speaker 4: Feel like, go on and throw someone under the bush.
Speaker 1: Do this on this podcast all the time. This is
Speaker 1: why we have next to no sponsors because I've already
Speaker 1: burnt them all. It's one of those things where I
Speaker 1: always find it really interesting. In this twenty twenty two
Speaker 1: it's about the life coach, right, Yeah, like the life
Speaker 1: coach and the business coach and stuff, and I'm all
Speaker 1: about it, Like I'm someone who really I love mentoring
Speaker 1: and I love having a mentor and learning from them,
Speaker 1: but like, can we please do some credential checks before
Speaker 1: we hire our life coaches. Just because they've got a
Speaker 1: good social following doesn't mean they've actually ever run a
Speaker 1: good business. And the amount of times I've seen people
Speaker 1: pop up being like hey, they like if you ever
Speaker 1: need a business coach like I do, Xyz and I
Speaker 1: have a look and I'm like, when have you ever
Speaker 1: run a business? Like when have you done? Like where
Speaker 1: did you get this knowledge from? Like how am I
Speaker 1: learning from you? So I think that it's just a
Speaker 1: good Obviously he's got a good book and all of
Speaker 1: those principles are really good. But as I prefaced at
Speaker 1: the start of when you asked me about him, I
Speaker 1: was like, oh, this, semen I was, are a little
Speaker 1: bit like left field and not something I would really
Speaker 1: like this she's on the money community to engage in.
Speaker 1: I think it's just important to always question where if
Speaker 1: people come from, like who are they, what do they do?
Speaker 1: Why would they be putting this information in front of me?
Speaker 1: And I think that second guessing everything is not a
Speaker 1: bad trait to have. I'm very much it's a glass
Speaker 1: huff full person, but like that's me giving you a
Speaker 1: glass half empty kind of tip. It's good to be cynical.
Speaker 1: I think you have to be in this world, especially
Speaker 1: around money and especially around business, and you can just
Speaker 1: get caught up so quickly being like, but this is great,
Speaker 1: this is such a good idea. You're right, this makes sense.
Speaker 1: But like, why is this other person teaching me that, Like,
Speaker 1: how do they profit? Because at the end of the day,
Speaker 1: not everything in the world is free, and yeah, someone somewhere,
Speaker 1: somehow is making money precisely.
Speaker 4: All right, On that note, let's move on to our
Speaker 4: third book of the day. V I'll let you reveal
Speaker 4: this one.
Speaker 1: None of these are by women, and it's so annoying.
Speaker 1: If more women could write more investing books, that would
Speaker 1: be great. The next book, it's by our friend Benjamin Graham.
Speaker 1: It's from nineteen forty nine and it's called The Intelligent Investor.
Speaker 1: That's also really dry.
Speaker 4: Surprise, surprise.
Speaker 1: I bought the audiobook of this and just got through
Speaker 1: the first chapter, didn't like it, read the book, loved it,
Speaker 1: So that's interesting. Yeah, I mean I feel like audiobooks
Speaker 1: are something that I really connect with because I can
Speaker 1: listen to them in the car. Yeah, but listening to
Speaker 1: an investing book, I feel like I've just zone out.
Speaker 1: I feel like also shooting myself in the foot as
Speaker 1: someone who in September has an investing book coming out
Speaker 1: that will also have an audiobook that I will read.
Speaker 4: Yeah, yeah, don't it's going to be bored.
Speaker 1: Don't bother with that.
Speaker 4: You've got fun in snazzy presentation style. Girl wonderful. Tell
Speaker 4: me about the intelligent investor?
Speaker 1: All right. So I like this book because it kind
Speaker 1: of starts to go. So we've had some mindset books.
Speaker 1: We had two mindset books, and now this book kind
Speaker 1: of goes into the actual semantics of being a good
Speaker 1: investor and what that means. So the first sentence I
Speaker 1: have come up with is this book really focuses on
Speaker 1: long term and more risk averse approaches. So Benjamin, he
Speaker 1: focuses on investments that are based on research rather than speculation,
Speaker 1: which is based on predictions. And so I like that because, again,
Speaker 1: this is the crux of investing, and I think too
Speaker 1: many times people really skim over mindset, They really skim
Speaker 1: over strategy and structure, and they go straight to which
Speaker 1: ETF should I buy? Victoria, I'm like, no, no, no,
Speaker 1: let's take a few steps back and learn about where
Speaker 1: we're coming from and what our strategy looks like. And
Speaker 1: these books I feel like like the foundational building blocks
Speaker 1: of how we get there. The second sentence I've come
Speaker 1: up with is the Intelligent Investor provides guidance on how
Speaker 1: to get involved in value investing and how you can
Speaker 1: prevent the market from dictating your financial decisions.
Speaker 4: What's value investing?
Speaker 1: So value investing is really about getting the best value
Speaker 1: for your money, essentially, and I think that it really
Speaker 1: goes back to those behavioral markets and emotional investing journeys
Speaker 1: that a lot of us are on, where we go, oh,
Speaker 1: they got bitcoin wild, like everybody else is buying it,
Speaker 1: I'm going to buy it. That was a terrible idea.
Speaker 1: And so it's really about understanding how the markets perform
Speaker 1: and how media picks up on the way markets perform,
Speaker 1: and how that kind of structures your perception of what's
Speaker 1: going on. So it's really about actually looking for the
Speaker 1: value in a company and breaking it down and going
Speaker 1: what does the profit and loss look like? What does
Speaker 1: the balance sheet look like, how does this work, and
Speaker 1: how does this fit together? How does this work for
Speaker 1: my strategy as opposed to, oh my god, I heard
Speaker 1: the after pay that was a good share to buy?
Speaker 1: Does that make sense? Yea, So it's really about finding
Speaker 1: the value in a company instead of just getting caught
Speaker 1: up in the emotional journey that a lot of us
Speaker 1: go on. And the same can be said for you know,
Speaker 1: once you have something about whether you dispose of it
Speaker 1: or not, so whether you sell an asset and when
Speaker 1: and how that works? Yeap makes sense? Sure? Cool? Number
Speaker 1: three is this book also really I guess captures that
Speaker 1: by understanding your financial position and your goals, you can
Speaker 1: then actually make effective decisions about how you manage your money,
Speaker 1: which I just feel like as a no brainer, But
Speaker 1: we actually have to learn that. We can't just be
Speaker 1: told that. It's just got a really good, big piece
Speaker 1: that teaches you how to super understand your financial position
Speaker 1: and your goals and what that means and how to
Speaker 1: make effective decisions on where you want to go and
Speaker 1: what you want to do.
Speaker 4: Any chatting there about money stories.
Speaker 1: No, no money story, No, why would they do that?
Speaker 1: That's very shees on them.
Speaker 4: Well, it is, but like understanding your financial position and goals,
Speaker 4: I guess that's more the tangible stuff rather than like
Speaker 4: understanding yourself and your behaviors.
Speaker 1: Yeah, and I think it is definitely less fluffy than
Speaker 1: the way She's on the Money would present it. It's
Speaker 1: definitely about goals and setting a goal and here's the
Speaker 1: structure to achieve that goal. It's not really about understanding
Speaker 1: your base values and goals and just just like do
Speaker 1: you know what I mean? It's like not as fluffy,
Speaker 1: but it is a good structure and a good framework
Speaker 1: to start basing decision making on. And some people thrive
Speaker 1: on that. Some people want something a little bit more
Speaker 1: sterile than oh my gosh, I really understand my money
Speaker 1: story and where I've come from, because do you know what,
Speaker 1: there are some people who are just not ready for
Speaker 1: their money stories. There are some people who just don't
Speaker 1: want to face that music because it can be hard,
Speaker 1: and as you see on our Money Diaries episodes like
Speaker 1: they're complex. They're not just complex, but they're emotional and
Speaker 1: they're hard, and working through your money story it's just
Speaker 1: not something that everybody is ready for or even wants
Speaker 1: to delve into so I think that this is quite
Speaker 1: a good way of going on. Well, he's how to
Speaker 1: understand a financial position and goals and work towards them.
Speaker 1: I do obviously think it's far more powerful. I you're
Speaker 1: going to understand the background to all of that, but
Speaker 1: you get what you get and you don't get upset. George.
Speaker 4: That's it, isn't it.
Speaker 1: Mate.
Speaker 4: Let's talk about the key points of the book. If
Speaker 4: we can just run through them quickly.
Speaker 1: We can, all right, So first things first, the issue
Speaker 1: with inflation. So inflation is really important to take into
Speaker 1: consideration and has been a very hot topic in our
Speaker 1: community recently because of the rising cost of living and
Speaker 1: how much inflation is going to be applied to our
Speaker 1: help debts. So inflation is important. But essentially cash becomes
Speaker 1: less valuable over time, and a dollar today is not
Speaker 1: worth what a dollar tomorrow is worth. So for example,
Speaker 1: a dollar ten years ago is worth more than a
Speaker 1: dollar today. Therefore, instead of holding on to cash, Benny,
Speaker 1: our mate, Benny, he says, we must be investing cash
Speaker 1: so that we can beat inflation. And despite this, the
Speaker 1: majority of investors don't take inflation into account, which is
Speaker 1: so important. And I'm obviously going to promote my own
Speaker 1: book later, but I have just spent so long calculating
Speaker 1: out the difference of taking into consideration inflation and not
Speaker 1: taking it into consideration, And my friends, I am telling
Speaker 1: you right now, is the difference between a comfortable and
Speaker 1: a very uncomfortable retirement.
Speaker 4: Really, there you go.
Speaker 1: Absolutely. The next is really based on property, So it's
Speaker 1: that essentially real estate investment trusts can overcome inflation. So
Speaker 1: that's an interesting point to take into consideration, but also
Speaker 1: important to remember that this book was written in nineteen
Speaker 1: forty nine and property has significantly changed, So let's take
Speaker 1: that point with a very large grain of salt. The
Speaker 1: next is that choosing which type of investor you should
Speaker 1: become is based on your willingness to put in time
Speaker 1: and energy and effort into your portfolio and circumstances, and
Speaker 1: don't let your age deside. The next is defensive investing.
Speaker 1: So a defensive investor should apparently have a minimum of
Speaker 1: twenty five percent of their savings in bonds and then
Speaker 1: a maximum of seventy five percent of their savings in chess.
Speaker 1: Do you agree with that? Not necessarily, but it's an
Speaker 1: interesting point to be taken The next year is our
Speaker 1: mate Benny advises on how to actually invest in stocks. So,
Speaker 1: for example, day trading is really risky, so I think
Speaker 1: talking about what type of stock investment you're going to do, so,
Speaker 1: for example, working out what type of share investing is
Speaker 1: going to work best for you, and like I guarantee you,
Speaker 1: even though this was written in nineteen forty nine, day trading,
Speaker 1: it's still not Probably the best idea can be a
Speaker 1: little bit fun. Your mate over this side of the table,
Speaker 1: Georgia King loves to have a dabble, but it is
Speaker 1: very risky. We aren't going to do that for our retirement.
Speaker 1: So I think that's a very good point. The next
Speaker 1: is to adopt an evidence based approach when investing, really important,
Speaker 1: evidence based, Like it's not sexy, this investing stuff, Like
Speaker 1: it's just not and I wish I could make it sexy.
Speaker 1: But the sexier and investing strategy sounds, the more risky
Speaker 1: it is likely to be. And the best type of
Speaker 1: investments are so boring, it's so bland, Like you shouldn't
Speaker 1: be looking at your investing portfolio and having this absolutely
Speaker 1: emotional rollercoaster every time you look. It should be like,
Speaker 1: oh yeah, there she is.
Speaker 4: That's true.
Speaker 1: So it's like a boring old marriage. You've been together
Speaker 1: thirty years, true, she's tested.
Speaker 4: Yeah, not cheated on me?
Speaker 2: Yeah?
Speaker 4: Perfect, Yeah, exactly.
Speaker 1: What you don't want to a bad boy, No bad
Speaker 1: breaks our heart, No bad boys who break our hearts exactly.
Speaker 1: I guess is that you can make a lot of
Speaker 1: money off market volatility, but you should never sell your
Speaker 1: stocks in a panic. We know that. Yeah, be true, absolutely.
Speaker 1: And the next next by which I've incluted, but I
Speaker 1: don't really like it. What is it?
Speaker 2: Pee?
Speaker 1: It's don't trust and just be careful about using financial advisors. Interesting,
Speaker 1: But I think that that's really valid because when this
Speaker 1: book was written, there was no obligation. And if we
Speaker 1: actually go back to nineteen forty nine and what financial
Speaker 1: advice used to be, so financial advice actually came out
Speaker 1: of selling insurance. It never actually came out of putting
Speaker 1: people in the best possible financial position. Financial advisors literally
Speaker 1: existed to sell life insurance policies, and to me, they
Speaker 1: were all snakes. That is why this industry has had
Speaker 1: to have such a turnaround and such a different mindset,
Speaker 1: and nowadays financial advisors are not in it to just
Speaker 1: sell product, Whereas historically that's what it was. They would
Speaker 1: sell you product, they would take insurance, they would sell
Speaker 1: you anything under the sun. And nowadays that is so
Speaker 1: incredibly different. Obviously, there are a lot of good eggs,
Speaker 1: like this guy who wrote this book. He was a
Speaker 1: great guy. But it's so important to you know, always
Speaker 1: be wary. And that's why we're always like, check that
Speaker 1: your financial advisor is actually registered. Check how many people
Speaker 1: are actually happy with that financial advisor, like go fishing.
Speaker 1: It's kind of like finding a good doctor. If you're
Speaker 1: not comfortable talking to them, how are you going to
Speaker 1: tell them your deepest, darkest goals and secrets and powers
Speaker 1: and like it. Just definitely take it with a grain
Speaker 1: of salt. But yeah, do need to probably be really
Speaker 1: transparent and tell you that he said beaver about using
Speaker 1: financial advisors of it.
Speaker 4: But as you said, the context of the year in
Speaker 4: which he wrote this stuff really come into play, so.
Speaker 1: One hundred percent, And to be honest, that still exists today.
Speaker 1: Because who's your best mate, George Accadic? She's not your
Speaker 1: best mate, but who was Melissa Caadic?
Speaker 4: So Melissa Kadick was in quotation marks a financial advisor
Speaker 4: but she wasn't. Really she was a silly little missy
Speaker 4: who ripped off full of her family and friends. She
Speaker 4: stole millions and millions of dollars from them.
Speaker 1: There's a really good podcast out right now, yes, by
Speaker 1: the Sydney Morning Herald, and I am obsessed with it.
Speaker 1: But I would absolutely go listen to that. But also
Speaker 1: kind of scary because she quite it was like mainly
Speaker 1: her friends and family as well, she was investing. She
Speaker 1: ripped them all off, she took their money, and then
Speaker 1: she disappeared. Yep, she'd been found.
Speaker 4: No, her foot has been found.
Speaker 1: It was actually confirmed her foot. I haven't got that
Speaker 1: far into the podcast. Oh my god, let's move away
Speaker 1: from this, but it's a really spicy podcast series. But
Speaker 1: essentially she was faking being a financial adviser and taking
Speaker 1: people's money and that was only happening what last year.
Speaker 1: I think her foot was found in like twenty twenty
Speaker 1: one or something. Wild crasically run away for that.
Speaker 4: But the way that she did that all was by
Speaker 4: putting on like extra numbers or less numbers on like
Speaker 4: commsick accounts and stuff like that.
Speaker 1: Like I actually really need to be it's actually so
Speaker 1: messed up and you should question everything. And that's why
Speaker 1: it's so beautiful having clients like I adore my job,
Speaker 1: and as you guys know, I am so obsessed with
Speaker 1: being financial advisor. I love my clients, I love the
Speaker 1: work I do, I love the strategy. I feel like
Speaker 1: it's married all of my favorite things together and I
Speaker 1: get to do that as a career. But there's one
Speaker 1: thing that I just can't deal with, and it's when
Speaker 1: clients coming they're like, no, V, I know you know
Speaker 1: what you're talking about, and I'm like, no, please sit down.
Speaker 1: I actually just really want to show you through this,
Speaker 1: Like no, don't waste my time, it doesn't matter. I'm like,
Speaker 1: it matters to me, Like I don't want you to
Speaker 1: go to a barbecue on a weekend and someone goes, hey, like,
Speaker 1: where's your financial advisor? Keep xyz, Like I want you
Speaker 1: to know. And even if you don't use that information
Speaker 1: and you don't e a log into your portal, I
Speaker 1: don't care that at least you have that access and
Speaker 1: you know how to do it. It's kind of like
Speaker 1: in a relationship when you know, you get a little
Speaker 1: bit comfortable and your partner's always paying the bills. And stuff,
Speaker 1: but you don't know how to do that. Like, I
Speaker 1: don't think that's good enough. I think you need to
Speaker 1: know how to pay the bills, even if it's not
Speaker 1: your responsibility. Like we always need to be across where
Speaker 1: our assets are and what's going on and how it
Speaker 1: works and how we can access them. And I just
Speaker 1: think that it's so important. So I would say, also
Speaker 1: be really careful obviously talking to anyone about your finances
Speaker 1: and just find the right fit for you. But yes,
Speaker 1: we can move on perfect.
Speaker 4: I think let's go to a little break because we
Speaker 4: still have two hot books to get to and this
Speaker 4: has gone for a really long time, so don't go anyway. Alrighty,
Speaker 4: welcome back, guys. We've got our two final books to
Speaker 4: talk through today.
Speaker 1: Ved we can probably pay a guessing game of what
Speaker 1: one of those books is, but we'll get to that last. Yeah, yeah,
Speaker 1: give us number four, go on, right, sorry. Number four
Speaker 1: is one of my other favorites. It's called Think and
Speaker 1: Grow Rich. I would like to change this book's name.
Speaker 4: Think and Grow Wealthy is why.
Speaker 1: Would like to change it too? And it sounds fancy
Speaker 1: because the guy who wrote this is called Napoleon, so
Speaker 1: his name's Napoleon Hill and it was written in nineteen
Speaker 1: at thirty seven.
Speaker 4: Another old game.
Speaker 1: Yeah again, grain of salt when we read these books,
Speaker 1: but they're tried and true for a reason, and they
Speaker 1: are staples in the investment community for a reason. And
Speaker 1: it's kind of like, why would you rewrite it? Like
Speaker 1: I didn't even bother trying because they can't do half
Speaker 1: as good a job. And the thing that annoys me
Speaker 1: about this book least is that it's just like men.
Speaker 1: And that's fine, but I will pump my tires up
Speaker 1: at the end. But like because of the time and
Speaker 1: because of when these books were written and the underlying lessons,
Speaker 1: like women were not writing books on investing, like that
Speaker 1: didn't come until like literally, I think the early two
Speaker 1: thousands was one of the first investing books that was
Speaker 1: written by a woman. And even then, like we're not
Speaker 1: naming names or talking about books like it's it's the
Speaker 1: old formulas. And I really like going back to where
Speaker 1: did this actually come from? Like if we're going to
Speaker 1: talk about, you know, these investing methodologies, like which was
Speaker 1: the book that actually started it? So I can read
Speaker 1: that so whenever I read another book, I know where
Speaker 1: those methodologies are coming from, and I think it's important
Speaker 1: to kind of like get those ducks in a row.
Speaker 1: But Thing and Grow Rich by Napoleon Hill from nineteen
Speaker 1: thirty seven is a very good book and has yeah,
Speaker 1: lots of information in it that I think you will adore.
Speaker 1: Georgia King to still it down in three sentences, please bekay,
Speaker 1: well before we get there. It's not nearly as dry
Speaker 1: to read it as The Rich as Nana Babylon or
Speaker 1: The Intelligent Investor. It's also not as good to read
Speaker 1: as She's on the Money, which I would argue is
Speaker 1: of a tone of voice that you and I enjoy
Speaker 1: slightly more. But first sentence is that Napoleon Hill researched
Speaker 1: more than forty millionaires to find out what made them
Speaker 1: the men that they were, right, Okay, kind of cool.
Speaker 1: So this is like a little bit of a different
Speaker 1: like take on wealth. It's really about looking at, well,
Speaker 1: how did you get rich like you're rich? Obviously they
Speaker 1: were all men, because millionaire nineteen thirty seven, that could
Speaker 1: not be a woman. When did women have access to
Speaker 1: bank accounts? Do you know? I can't tell you that date,
Speaker 1: But what I can tell you is that my mom
Speaker 1: is going to be very mad that I'm telling you
Speaker 1: guys on a podcast she's in her sixties. She's probably
Speaker 1: going to be mad because you wouldn't be able to
Speaker 1: guess she was in her sixties, so she'd be mad
Speaker 1: that that information out. But my mom, when she was
Speaker 1: in her early twenties started a business and she had
Speaker 1: to get her dad to co sign at least to
Speaker 1: actually get her business. So even when my mom, this
Speaker 1: is like thirty thirty five is years ago, and same
Speaker 1: thing happened when she wanted to buy her first house
Speaker 1: even though she had earned all the money herself and
Speaker 1: wanted to do it all herself. Guys, that wasn't that
Speaker 1: long ago. Like this is my mom. We're not talking
Speaker 1: about my grandparents here. We're talking about my mom not
Speaker 1: being able to run a business because she was a female,
Speaker 1: because what would we know that we are we are women? Wow,
Speaker 1: give me an next point, Vedra, this is very fluffy point.
Speaker 1: We like it. Napoleon, good work. He says, whatever the
Speaker 1: mind can conceive and believe the mind.
Speaker 4: Can achieve, like manifestation.
Speaker 1: Yeah, I think he was friends with Jessica. And then
Speaker 1: the number three is opportunity has a sly habit of
Speaker 1: slipping in by the back door, and often is disguised
Speaker 1: in the form of misfortune or temporary defeat, which is
Speaker 1: why so many people fail to recognize an opportunity. I
Speaker 1: love that. I adore that, which is why it made
Speaker 1: number three. And I think that that's where you know,
Speaker 1: maykey while the sun's shining, but also always see a
Speaker 1: negative situation for what it could potentially be, not what
Speaker 1: it is absolutely right, So I love that.
Speaker 4: So B, would you say this book is more about
Speaker 4: psychology than like practical.
Speaker 1: Tips, Yes, absolutely, it's It's definitely about following those forty
Speaker 1: millionaires and really understanding how they got rich. I would
Speaker 1: call it probably like a personal development or a self
Speaker 1: improvement book. And Napoleon, how could that name? It's pretty boss.
Speaker 1: I'm going to put it on the baby name list
Speaker 1: for But Napoleon claimed to have written the book after
Speaker 1: he claimed to be inspired by suggestion from the business
Speaker 1: magnate and later philanthropist Andrew Carnegie, who you might Haegie Hall. Well, yeah,
Speaker 1: I'm pretty sure. But he was essentially the person that
Speaker 1: led the expansion of the American steel industry in the
Speaker 1: late nineteenth century and became one of the richest Americans
Speaker 1: in history, which is kind of cool. He then became
Speaker 1: like a super big philanthropist, so he just gave heaps
Speaker 1: of money away in the US and in Britain, which
Speaker 1: is kind of cool. But that book Think and Grow
Speaker 1: Rich was actually published during the Great Depression and was
Speaker 1: seen as a book that kind of inspired a lot
Speaker 1: of people during a period of downturn. And the book
Speaker 1: was sold more than fifteen million times. Kind of cool, right,
Speaker 1: still remains as a top seller, and it remains obviously
Speaker 1: Napoleon Hill's number one seller, but BusinessWeek magazine best Seller's
Speaker 1: list actually ranked it as the sixth best selling paperback
Speaker 1: business book seventy years after it was published. That's incredible.
Speaker 1: That's pretty cool, says it all. That'll obviously be she's
Speaker 1: on the money guy. Obviously, seventy years from now, they're
Speaker 1: gonna be like, who's this girl is talking about bank accounts?
Speaker 1: They don't even exist anymore yet.
Speaker 4: True, But you talk me through the five big ideas
Speaker 4: of this book, all right, so let's just still it down.
Speaker 1: There were a lot of big ideas in this book
Speaker 1: that I really really like, and I think you genuinely
Speaker 1: should read this again because it's one of the less
Speaker 1: dry books on the list. But the first big idea
Speaker 1: is that the starting point of all achievement is desire.
Speaker 1: You've just got to want to do it. And how
Speaker 1: many people set goals whether they're like, not that motivated
Speaker 1: to do it, and then they're wondering why they're not
Speaker 1: achieving things. Next is g again Fluffy, definitely a mindset
Speaker 1: self improvement book. You are the master of your destiny.
Speaker 4: I love that.
Speaker 1: It's kind of cute, but it's also really true. And
Speaker 1: I really like it because if you look like she's
Speaker 1: on the money, look at our money diarists and how
Speaker 1: they change their entire lives like they are the masters
Speaker 1: of their destiny. And I think that's really powerful. Like
Speaker 1: you can change your situation. It doesn't matter where you
Speaker 1: are standing right now, you can do it, and that's
Speaker 1: really cool. Number three is that when defeat comes accepted
Speaker 1: as a signal that your plans are not sound, rebuild
Speaker 1: those plans and set sail once more towards your coveted goal.
Speaker 1: Lovely you like that one.
Speaker 4: I loved that one.
Speaker 1: Yeah. Number four is your greatest success will often come
Speaker 1: just one step beyond the point and which defeat has
Speaker 1: overtaken you. This is huge. I feel like it's Fluffye,
Speaker 1: it's really nice. It's kind of like the two steps
Speaker 1: forward one step back. Is that the right thing? Maybe
Speaker 1: I should maybe not use stuff like that. Maybe we
Speaker 1: should just go with his which was your greatest success
Speaker 1: will often come just one step beyond the point at
Speaker 1: which defeat has overtaken you. I just think that's really inspirational. Napoleon,
Speaker 1: you're a good guy. Would you get a coffee with
Speaker 1: Napoleon if he's by of course I would. Yeah, you'd
Speaker 1: get a coffee with anyone you are supersting. And then
Speaker 1: number five is set your mind on a definite goal
Speaker 1: and observe how quickly the world stands aside to let
Speaker 1: you pass.
Speaker 4: Set your mind on a definite goal and observe how
Speaker 4: quickly the world This isn't going in my brain.
Speaker 1: It's about flush maindset. It's about if you ask my
Speaker 1: mama would be about asking the universe for something, like
Speaker 1: if you want something, you go out and you get it.
Speaker 1: And it's kind of about what is that theory? It's
Speaker 1: like the theory of like when you see something, it
Speaker 1: just starts appearing everywhere it's like, have you ever seen
Speaker 1: all right, this is gonna get you, Amy Lenardi if
Speaker 1: you are listening, high love you. This is our thing.
Speaker 1: We're always like, do you know what we never see?
Speaker 1: Honda Jazz is in the color yellow? And then do
Speaker 1: you know what I see everywhere now? Jazz is in
Speaker 1: the color yellow. So now I text her every time
Speaker 1: I see a Honda Jazz in the color yellow. Also,
Speaker 1: if you own one of those and you're in Melbourne
Speaker 1: and you've seen me just like walking down Smith Street
Speaker 1: taking a photo of your car, I'm sorry. I was
Speaker 1: just sending it to Amy because it's our thing. But
Speaker 1: it's about like setting a clear goal and being really
Speaker 1: intentionable about that and then everything kind of like and
Speaker 1: it falls into place. You can find the things you
Speaker 1: need to find to actually make that happen, Like the
Speaker 1: world will make it happen if you want it to happen.
Speaker 1: In a way, it's kind of fluffy. It's very just
Speaker 1: good re chee, which we love. But it's one of
Speaker 1: those things where the more you believe it, the more
Speaker 1: you can achieve it, the more you're like, if you
Speaker 1: can see it, you can become it kind of vibes
Speaker 1: this is big, big inspo. Yeah, it's energy development self
Speaker 1: development book vibes like it's partly an investment book at
Speaker 1: the same time as being very much about like setting
Speaker 1: your mind on things. And you see this in our
Speaker 1: community all the time when people are like, I've just
Speaker 1: decided I'm really going to pay off this debt, and
Speaker 1: then they end up achieving it early because they pick
Speaker 1: up another option or an opportunity to like have a
Speaker 1: side hustle or do something. And it's let's be honest,
Speaker 1: it actually all distills down to you actually doing what
Speaker 1: you said you were going to do. The world isn't
Speaker 1: actually spoon feeding you this stuff. It's about you finding
Speaker 1: a way in the world to get this done. And
Speaker 1: that's kind of cool. But we could be a bit
Speaker 1: fluffy about it. Yeah.
Speaker 4: Absolutely. It's worth noting that three out of the five
Speaker 4: books that we've chosen to speak about today are between
Speaker 4: sixty and seventy years old.
Speaker 1: Yeah, they're real old, and that's kind of how I
Speaker 1: am on the inside. Yeah. Yeah. Also, I feel like
Speaker 1: I could have gone through and picked a whole heap
Speaker 1: of books from people I really love, Like I could
Speaker 1: have picked Glenn James's book Sought Your Money Out Now,
Speaker 1: which is a friggin good book. Like, if you haven't
Speaker 1: read that, absolutely should be reading that. And maybe that
Speaker 1: can be like the honorary sixth book on this list
Speaker 1: of five but love Your Glenny. But it's one of
Speaker 1: those things where I just really wanted to pick books
Speaker 1: that were really about mindset and putting you in the
Speaker 1: right position to take control of your life, because it's easy,
Speaker 1: Like the investing part is easy, and I don't want
Speaker 1: to make it sound so easy that I'm being condescending,
Speaker 1: but it is really easy once you have a goal,
Speaker 1: you have a mindset, and you have the right mentality
Speaker 1: around investing and creating wealth and changing your life, Like
Speaker 1: it's not hard, but the hard thing is getting yourself
Speaker 1: mentally to that stage where you can sacrifice things, because
Speaker 1: in order to create wealth, we do have to have
Speaker 1: some level of sacrifice. Like it is you putting off
Speaker 1: something that you could have today, George, so you can
Speaker 1: have a bigger, better one later down the track. Yeah,
Speaker 1: and that mentality is really hard to actually come by.
Speaker 1: It's so easy to say it's so easy to put
Speaker 1: on a podcast, but it's actually really hard to be
Speaker 1: putting today you in a control seat where you just
Speaker 1: say oh no, like I would like another coffee or
Speaker 1: I would really like to buy that top, and you're
Speaker 1: saying no to you today so that future you can
Speaker 1: have a better future. Like that's a really hard mentality
Speaker 1: to actually grasp and take hold and actually put yourself
Speaker 1: in that control seat of So think for what I do.
Speaker 1: I really wanted to pick books that put you in
Speaker 1: that control seat so that when you do read books
Speaker 1: like sort your money out now or She's on the Money,
Speaker 1: which we're going to talk about now, you're ready to
Speaker 1: take control and you're ready to actually implement all of
Speaker 1: those things, and you're going to be so much more successful.
Speaker 1: So that's why my book list or my reading list
Speaker 1: is definitely a little bit more dated. But with dated
Speaker 1: comes tried and true strategy and philosophy and things that
Speaker 1: you know, all of the stuff we've talked about today, George,
Speaker 1: it's still tried and true today, except for the property parts,
Speaker 1: which you know, we know about the avocados. Ye're all good, Yeah,
Speaker 1: So the basics down the test of time. They do. Indeed,
Speaker 1: my friend.
Speaker 4: Tell us now, miss Victoria Devine about our final book
Speaker 4: of today, which is of course, She is On the
Speaker 4: Money by Victoria Divine.
Speaker 1: Oh my gosh, I think is the greatest book to
Speaker 1: have ever been written ever. Well, can you tell me
Speaker 1: a little bit about why you wrote it? Why did
Speaker 1: I write it? I wrote it because I was afforded
Speaker 1: this beautiful opportunity to take our community and our podcast
Speaker 1: and all of the knowledge I have as a financial
Speaker 1: advisor and put it in a book. Never in my
Speaker 1: wildest dreams did I think that I would be an author, Like,
Speaker 1: that's crazy. I used to make kids books when I
Speaker 1: was like in primary school. Yeah, and I used to
Speaker 1: like fold over the colored paper and have them as
Speaker 1: the cover on the front, and like to make it
Speaker 1: like more legit. I would like use heaps of tape
Speaker 1: in like strips so it could be like a laminated
Speaker 1: front cover, and I draw them anyway. I loved books,
Speaker 1: and I wanted to have my own, and this idea
Speaker 1: that I could have a book was crazy. And so
Speaker 1: when I got approached by our publishers at Penguin, obviously
Speaker 1: that is so cool to be approached to write a book,
Speaker 1: I just knew that I didn't want it to be
Speaker 1: a book where I was like, cool, let's just chuck
Speaker 1: my brand on something. It was like, I could change
Speaker 1: people's lives, Like you look at the foot Investor and
Speaker 1: you go, that changed people's lives, and that book wasn't
Speaker 1: even putting them in the best possible position ever, Like,
Speaker 1: how cool would it be if I could do that?
Speaker 1: And how cool would it be if I could collect
Speaker 1: up all of these gems of knowledge that have been
Speaker 1: shared in our community but also have been shared you know,
Speaker 1: by me having worked as a financial advisor, and just
Speaker 1: even stuff like my banking structure. People were raving about
Speaker 1: it when I would just share like a random PDF
Speaker 1: in our Facebook group and I'd be like, well, this
Speaker 1: is how I do my banking, and I think you
Speaker 1: could really benefit from this, to be like Pictorioa's has
Speaker 1: changed my life, the idea that that could then be
Speaker 1: on scale, and that it's now in literally in the
Speaker 1: homes of thousands and thousands of people, and we've won
Speaker 1: awards for this book, Like what very very cool, George.
Speaker 1: It's sick and I'm nearly done. I am actually done.
Speaker 1: We're going through the like copywriting process at the moment,
Speaker 1: because it turns out I might be good at the
Speaker 1: logistics of a book. I might be good at the
Speaker 1: stats and facts, I'm not nearly as fun as I
Speaker 1: would like to be, especially because we have investing wishes
Speaker 1: on the money coming out in sept We're going through
Speaker 1: that process. But like the idea, we have a second book,
Speaker 1: Hu Wild Hue, so proud, but so wild. But I
Speaker 1: wrote it because I actually just wanted to take all
Speaker 1: of these nuggets of wisdom and gift them to you
Speaker 1: in one really easy to read book that spoke to
Speaker 1: you in your language in a way that was not overwhelming,
Speaker 1: in a way that felt like I was on the
Speaker 1: journey with you and put you in a position to
Speaker 1: actually take charge of your financial future. So we're not
Speaker 1: talking about like, oh my god, go and invest in X,
Speaker 1: Y and Z and making these things really complicated. We're
Speaker 1: not just talking about, you know, investing mindset. I would
Speaker 1: really love to think that I've brought all those things
Speaker 1: together and then structured the book in a way where
Speaker 1: each single chapter is a different step to put you
Speaker 1: on a better path. Which is why at the end
Speaker 1: of my book, if you've probably not read it, because
Speaker 1: why would you bother? You have to deal with me
Speaker 1: every day or two. At the end of the book,
Speaker 1: there's like a twelve month action plan, so every single
Speaker 1: month kind of aligns to one of the chapters to
Speaker 1: put you in a better position. So one month we
Speaker 1: do super and one when we do investments, and one
Speaker 1: month we do insurance, and like, I'm putting you in
Speaker 1: the best possible position to be as financially successful as
Speaker 1: you possibly can be. And that actually just starts with
Speaker 1: really good foundations. And I would love, love, love to
Speaker 1: think that this book is all about getting those foundations right.
Speaker 4: So you don't need to know very much about money,
Speaker 4: or you don't need to have been in the community
Speaker 4: for very long, so you don't need to get the
Speaker 4: community to pick it up and get lots out of it.
Speaker 4: I have made sure that every single chapter has one
Speaker 4: or two like snippets of money diaries, so that you
Speaker 4: really can connect in and.
Speaker 1: Be like, wow, if they can do it, I can
Speaker 1: do it. And Yeah, it really starts with mindset and
Speaker 1: then goes into the framework, and I think that that's
Speaker 1: how I would want everyone to go on that journey
Speaker 1: and to be given the opportunity to write a book
Speaker 1: that I was completely in control of that goes all right.
Speaker 1: If g I was going to give you one resource
Speaker 1: when it came to money. This is it, Like, that's it.
Speaker 1: That's where I came from.
Speaker 4: I know you're very modest and you won't want to
Speaker 4: your own horn too much here.
Speaker 1: I mean, I feel like I just did that. I
Speaker 1: feel like that that was pretty good. Tell me Cheating
Speaker 1: of Horn.
Speaker 4: Tell me about the impact you've heard along the journey
Speaker 4: about this book, the change that it's made. I'm sure
Speaker 4: you've had.
Speaker 1: I cry a lot sometimes I read the reviews, but
Speaker 1: to read reviews because people can be really mean. But
Speaker 1: it's really about the dms and messages and do you
Speaker 1: know what, we've started getting handwritten letters if people writing
Speaker 1: to us to be like, hey, Victoria, I wanted to
Speaker 1: send you a letter. I hope you don't mind. I
Speaker 1: found your address, like like obvious address, or they're not
Speaker 1: out the front of my house, but they're on like
Speaker 1: obviously you can find my business address online. It's not
Speaker 1: that hard, just explaining how much their lives have changed,
Speaker 1: or that they've gotten out of, you know, financially abusive
Speaker 1: relationships or situations they don't want to be in, or
Speaker 1: they've taken the next step, Like I got a message
Speaker 1: from a girl that I know has been in our
Speaker 1: Facebook group from the very beginning a couple of weeks ago,
Speaker 1: and she's like, Victoria, I know that we dam all
Speaker 1: the time, but I just wanted to really say thank
Speaker 1: you because I have just negotiated a pay rise that
Speaker 1: I never thought I would be able to get, and
Speaker 1: it was because I implemented all the tips and tricks
Speaker 1: you taught me. And I also then had the audacity,
Speaker 1: which I don't think it was audacity, but she said
Speaker 1: this had the audacity to ask to be back paid
Speaker 1: because I'd been doing that role for twelve months and
Speaker 1: now she got it. Really Now she's like so much
Speaker 1: closer to buying her first home, and just like people
Speaker 1: are in better positions because of this book. And that's
Speaker 1: all I could ask. Yeah, because you definitely, George, like
Speaker 1: I don't know what everybody thinks, but you definitely don't
Speaker 1: write a book to make money, Like I would need
Speaker 1: to sell millions of copies, and I would be so
Speaker 1: delighted to sell millions of copies, but you literally need
Speaker 1: to sell all millions, which we obviously haven't done yet.
Speaker 1: Is that pity tickets would but like at that point,
Speaker 1: maybe I'll make some serious money but you don't write
Speaker 1: books in Australia to make money. It's just like the
Speaker 1: publishing industry is just not big enough to sustain that.
Speaker 1: But you write one because you really want to have
Speaker 1: an impact and you really want to connect with your community.
Speaker 1: And I'm just so grateful I got to do that.
Speaker 4: Beautiful before we go, we'll give you another plug v
Speaker 4: investors because they didn't have enough just then investing with
Speaker 4: Shees on the money drops September twenty. I believe they got.
Speaker 1: Two days before my sister's birthday. Guess she's exactly right.
Speaker 1: A signed copy. Oh no, no, no no, I'm just going
Speaker 1: to order one on book Topia and have it delivered
Speaker 1: to a house side.
Speaker 4: I love it.
Speaker 1: You have to bring that to me to ask for permission, Alexandra.
Speaker 4: It is available for pre order now and if you
Speaker 4: do pre order, you'll receive twenty percent off. I believe
Speaker 4: that's the hot deal going.
Speaker 1: On to the market deal going around. Also, it makes
Speaker 1: me look really good to my publisher, So feel free
Speaker 1: to go on and pre order it, because publishers they
Speaker 1: love a pre order because it like ramps it up
Speaker 1: and it means that once the book launches, we're more
Speaker 1: likely to get a better launch party. So just like
Speaker 1: do the right thing, do the right thing. Yeah, we
Speaker 1: love it for the greater good. Let's leave it there, VD,
Speaker 1: thank you for today.
Speaker 4: I'm going to run the.
Speaker 1: But important stuff you get into it.
Speaker 4: Alrighty guys, remember the advice shared on She's on the
Speaker 4: Money is general in nature and does not consider your
Speaker 4: individual circumstances. She's on the Money exists, it's purely for
Speaker 4: educational purposes and should not be relied upon to make
Speaker 4: an investment or a financial decision. And we promise Victoria
Speaker 4: Devine and She's on the Money are authorized representatives of
Speaker 4: in Focused Securities Australia Proprietary Limited ABN four seven zero
Speaker 4: nine seven seven nine seven zero four nine AFSL two
Speaker 4: three six five two three.
Speaker 1: And as always, we would love it if you joined
Speaker 1: our Facebook group, where our community shares money tips and
Speaker 1: tricks every single day, free of judgment. So She's on
Speaker 1: the Money on Facebook and join us if Facebook's not
Speaker 1: your thing. Let's just segue this all the way back
Speaker 1: to the book. Go pre order our book. It's a
Speaker 1: great idea. You can just read it in paper and
Speaker 1: you don't have to interact with anyone on the Internet.
Speaker 1: Perfection also find us on Instagram where she is on
Speaker 1: the money a US. Don't forget to rate, redew and
Speaker 1: subscribe and tell Georgia she is very pretty in her DMS.
Speaker 1: Fust see you next week. Thys Guys Buy