November 5, 2024 • 39 mins
Welcome to the ultimate money game! In today’s Ask V Anything episode, we’re flipping the podcast into a full-blown game show. Victoria is in the hot seat, answering your wildest, trickiest money questions—from real estate decisions to to prenups to business hacks and everything in between. Think you can guess her answers? Time to find out!
Here is the the MLM episode we spoke about on Spotify and Apple.
Acknowledgement of Country By Natarsha Bamblett aka Queen Acknowledgements.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Hello, my name's Satasha Nabananga Bamblet. I'm a proud yor
the Order KERNI Whoalbury and a waddery woman. And before
we get started on She's on the Money podcast, I
would like to acknowledge the traditional custodians of the land
of which this podcast is recorded on a wondery country,
acknowledging the elders, the ancestors and the next generation coming
(00:22):
through as this podcast is about connecting, empowering, knowledge sharing
and the storytelling of you to make a difference for
today and lasting impact for tomorrow.
Speaker 2 (00:33):
Let's get into it.
Speaker 3 (00:34):
She's on the Money, She's on the Money.
Speaker 4 (00:57):
Hello, and welcome to She's on the Money, the podcast
that's usually all about helping you master your money. But
today it's not just a podcast. It's a game show.
Speaker 2 (01:05):
It's a game show.
Speaker 4 (01:06):
I don't know how this is going to go, but
I'm actually really excited about it. Buckle up because this
isn't ask V anything show. I'm your host, becksied and
with me, I think you should be at all times.
Speaker 2 (01:18):
Yeah, okay, be prepared. I was a scout, so.
Speaker 4 (01:21):
Scouts always be terrified and worried. So today our brave contestant.
May I please welcome to the stage, Victoria Device.
Speaker 2 (01:30):
Oh, thank you for having me on this game show
that I didn't know was going to be a game show.
I thought it was going to be a podcast.
Speaker 4 (01:35):
Thank you for joining me.
Speaker 2 (01:37):
Oh, thank you for having me. I'm ready.
Speaker 4 (01:39):
I'm sorry for just throwing this on you.
Speaker 2 (01:40):
No, absolutely, let's go. I love a good game show.
What are we playing? And how much money do I
get to win?
Speaker 4 (01:46):
I tell you what you get to win? Exactly zero dollars?
Speaker 2 (01:49):
But Ris, can you double it?
Speaker 4 (01:52):
I'll have to ask my producer.
Speaker 2 (01:53):
Okay, all right, Sorry, you're asking for a lot.
Speaker 4 (01:55):
I know, I know I've started yet. Okay, so this
game is all about taking on the biggest, juiciest, trickiest
money questions sent in by our amazing listeners. Do you
think you're up for it?
Speaker 2 (02:05):
No? But also, let's go.
Speaker 4 (02:07):
I also have a few of my own. But okay, anyone, No.
Speaker 2 (02:10):
You can ask me anything.
Speaker 4 (02:11):
Apparently I was open to this amazing. Okay, so let's
jump straight into round one with our first question. So hypothetically,
I'm twenty seven. Mentally I think.
Speaker 2 (02:19):
It'd be nice, wouldn't it.
Speaker 4 (02:21):
I've got one hundred k saved.
Speaker 2 (02:22):
So okay, yeah, that is very hypothetical.
Speaker 4 (02:25):
That is very hypothetical. I don'nate a property. Should I
be investing in real estate or elsewhere? And at the
same time, someone else wanted to know the potential pros
and cons of buying a property versus using that fund
for the share market. So should we tackle them together?
Speaker 1 (02:40):
Yeah?
Speaker 2 (02:40):
Absolutely. I was really scared when you said it's an
ask anything and I've gone row and I was like,
oh no, but now you're asking me about my bread
and butter. So we're ready.
Speaker 4 (02:48):
So come back.
Speaker 2 (02:49):
You have one hundred thousand dollars saved and you're not
sure where to invest it. I think you need to
zoom out and have a think about what your values are, Like,
is property actually something you want to be investing in,
because it's a really big commitment. So you're going to
buy property, there's going to be probably some stamp duty,
some other fees and charges. Like there's a lack of
flexibility there. I mean, I'm not selling it. I own
(03:10):
a mortgage broken company, beck, so like I should be like, yeah,
what you want to do? Go talk to a Zella
money broker. But I think it is such a big
commitment beck that I feel like you've got to know
that you really want it before you get into it,
because if you want to then get your money back,
it's a hassle to get it back out. If we're
comparing apples with apples, and you want to look at
the investment market versus property in Australia, we know that
(03:34):
the share market performs on average higher than the property market.
But in saying that, if you're not passionate about the
share market, why are you investing in it? Like if
that's something that you're like, oh, I can't be bothered,
but the fire in my belly is lit because of property,
Like you're going to allocate more funds towards it, Like
we spend money on the things that are of value
(03:54):
to us. So it's not about which returns more. It's
actually about what aligns your values, what you want to do.
And I cannot tell you how to invest your hundred
thousand dollars, but I think it's important to talk about
they are two different asset classes and over your lifetime
you're probably gonna want to have a bit of both.
So if you've got one hundred grand, is it for
(04:15):
a home deposit. Is it for share market up to you? Okay,
that was really diplomatic, I suppose, But I can't give
that advice totally legally.
Speaker 4 (04:26):
Probably need to like look at the person.
Speaker 2 (04:28):
What I can tell you, Yeah, tell me don't invest
it in a multi level marketing business.
Speaker 4 (04:32):
Oh great advice?
Speaker 2 (04:33):
Yes, yeah, okay, I can definitively say that that is
a terrible idea across that off.
Speaker 4 (04:38):
Finally, welcome, Okay, the next one. I actually always wondered
about this too. So if multiple brokers offer a zero
dollar initial fee, are in using multiple brokers.
Speaker 2 (04:49):
Do you know how many credit checks you're going to
rack up?
Speaker 4 (04:53):
Of course I don't like that.
Speaker 2 (04:57):
No neither. I don't like that credit checks on your
account decrease your credit score over time, so we want
to minimize those. But on top of that, let's say
you want to go get a home loan with Bank
B and you're like, all right, Bank B, I really
want to go and get a five hundred thousand dollars
home loan. Then you have another broker working on that.
It actually is submitted under you, Beck, so you are
(05:20):
like personally identifiable. Another broker can't submit another deal to
the same bank. Without intercepting that and ruining your chances,
you're probably going to end up with a decline. I see.
It becomes an admin nightmare for that bank and they
don't like it. Also, a mortgage broker gets paid by
the bank. So this is my business zeller money and
(05:41):
that's why I can offer services to our clients for free,
which is the biggest money when ever, because we get
paid by the bank when your property settles. It is
so much work. Like we have a big team at
Zella because not only are you talking to a broker,
but you're talking to their CRM. You're then talking to
our admin team in the backround. You then go into
a settlements officer who's going to make sure that your
(06:03):
process is as smooth as possible and that all the
eyes are dotted and all the tea's across. We LaaS
directly with your conveyancer to make sure that they're doing
their job. But you're in the best possible position. We
are answering all your questions along the way and making
sure that you are feeling supported my brokers. Not that
you should be calling your brokers after hours, but they
(06:24):
answer the phone on the weekends. They answer the phone
after hours. They do not want our clients to be stressed.
That is a lot of time, energy and effort to
be put in for something that then ultimately doesn't convert
because you were playing the game. I see, like, I
don't think it is fair. I do think that if
you're on the fence, have an initial meeting with a broker, absolutely,
(06:45):
but at the end of the day, work with someone
that you resonate with, because if there is a right
answer for your situation, both brokers should come to the
same conclusion. Beck true, they should be, you know, analyzing
it in a certain way and probably be putting the
same bank forward. But it takes us a lot of work.
It's not just like a quick half an hour meeting
with a broker. Like in the background, we are doing
(07:06):
so much work, so much research to make sure that
you are in the best possible position. If you're doing
that to multiple people, you're wasting their time and that
is not cool.
Speaker 4 (07:14):
That's so true. I did notice that when my partner
was buying a property, she was messaging them on Sunday,
and I was like, are you allowed to do that?
Speaker 2 (07:21):
I know that you should obviously respect business hours and
all of that, but like, if you're stressed and want
that support, I want to hold your hand and make
sure that you're in the best possible position. And I
don't want my clients being stressed because they're like, oh
my god, are we okay for settlement? Yeah, girl, of
course we are. Like if that's all it takes out
of our day, great, exactly.
Speaker 4 (07:39):
Okay, This next one's a good one for all of
us in this cozy liv crisis.
Speaker 2 (07:43):
Yeah.
Speaker 4 (07:44):
So, hypothetically, I'm a stay at home mum looking to
an extra income. Do you have any tips?
Speaker 2 (07:50):
I do multi level marketing.
Speaker 4 (07:52):
Let's take that out of context and put it on socials.
Speaker 2 (07:56):
Yeah, actually, put it on a T shirt uneducated, which
is what I'm going for. So do I have some
tips and tricks?
Speaker 1 (08:03):
Yes.
Speaker 2 (08:03):
I want you to just stay vigilant and know that
if it seems too good to be true, it probably is.
There are so many opportunities that are going to be
presented to you because you are a stay at home mum,
because you are relatively vulnerable in this situation, because like
the end of the day, you want to stay home
with your kids, like, and I get that, Like, if
you've decided that you need an extra income so that
(08:25):
you can spend more time with them. And someone comes
along and says, hey, back, so I've got this great
business opportunity. You just sign up. Not hard for you
to do three hundred bucks. You can make so much
money on the side, and you can take your kids
to the park whenever. You can work from wherever. Sounds great,
doesn't it. But you need to stay vigilant. I would say,
in terms of earning extra income, air tasker is fantastic.
(08:47):
Are there any tasks that you could pick up? And
do you know, if it's a courier job, can the
kids come with you? Can you you know, do a
few things here and there. Are there any handicrafts that
you can do online surveys that you could do. Is
there a way that you could get a work from
home job, Like one of our community members has recently
gotten a job as a medical transcriber.
Speaker 4 (09:08):
I was gonna say transcribing is pretty good.
Speaker 2 (09:09):
Yeah, it's pretty good, and she's earning so much money.
She's only like forty five bucks an hour or something.
It's good to transcribe medical records because they want to
keep them on file. But she's like, it doesn't matter
if I do that at nine am, or I'm doing
it at nine pm. I do it when my kid
is asleep, and they're fine with that. There are so
many options out there that don't involve you ending up
(09:30):
in a worse off situation. But I also need you
to know that if you're looking for a way to
earn extra income while still having that lifestyle as estate
at her mum, there is always going to be some
level of compromise, Like you can't have your cake and
eat it too. And maybe this is going to sound tough.
Maybe the realization is this is a season of life.
I'm going to earn less right now while I'm focusing
(09:51):
on my kids, and then once they're at school or
once they're doing this, I can go back to earning
an income. You don't actually need to do it all.
I feel like there's this boss babe mentality online of like,
if you're going to be a stay at home mum,
you also need to be working on yourself and you
also need to be having a side hustle. And if
you don't get up at five am and go to
the gym before the kids wake up, like what are
you even doing? Absolutely insane, unrealistic, expectations being put on parents,
(10:13):
Like if you want an extra income stream, great, let's
find one for you, but don't do it because you're
feeling the pressure because other people are doing it.
Speaker 4 (10:20):
Yeah. One Also, don't forget clinical trials.
Speaker 2 (10:23):
Sometimes no clinical trials.
Speaker 4 (10:25):
Clinical trials, let's take that.
Speaker 2 (10:27):
You can do that one.
Speaker 4 (10:29):
That one, Okay, the sext one is a good one.
I feel like I've said that four of them so far,
but they're all good. It's about those golden nuggets of wisdom,
your favorite advice from a mentor or person that you
still use to this day.
Speaker 2 (10:41):
Like the advice or the person, because like I feel
like mentors come and.
Speaker 4 (10:44):
Go true maybe both.
Speaker 2 (10:46):
If you have favorite advice, I feel like my dad
is that lame. That's probably lame. That'squ welcome dad. So
there's probably a few pieces of advice. The first one
is honesty tempered with mercy. WHOA, So that is something
that he's always said. Just because it's true doesn't mean
(11:09):
you have to say it. So like you know, if
something at work is happening and you know it's not working,
like always just being like am I being kind in
this moment? Or am I just saying it? Because I can.
I think that's something that I've always taken, especially in
Cheese on the money, Like, we have to be honest
because like, at the end of the day, I need
to put you in a best possible position. But you
(11:29):
don't need to crucify someone, like say you're firing someone
and they're just not the right fit. But they've also
been messing up a little bit and you've given them
a few reasons as to why you don't need to
double down and absolutely bury that person on the way out,
Like that is not what you need to do. So
like honesty, because like people deserve the truth, but like
sometimes you need to temper it with mercy. I think
(11:49):
is really good. Yes, the second piece of advice my
dad gave me was the best number of business partners
is an odd number of less than three. And I
really wish I had listened to him at the very start,
because that essentially is him saying, don't have business partners.
That sounds savage because I have had a few of
(12:10):
them now, and upon reflection, I have always taken on
a business partner because I didn't have the confidence that
I could do it myself. I thought that I needed
somebody else's support to be successful. I thought that I
needed somebody else to hold my hand through that section.
And the reality is, nobody knows my business is better
than me. No one cares about my businesses more than me,
(12:32):
No one cares about my mission more than me, and
so then it should just be me. At the end
of the day. My businesses are better off with me
making those decisions because I do lead in a way
that not everybody leads, and that's okay, But I think
it's important to kind of back yourself. Like I think
so often small business owners, especially women, they want to
(12:56):
be in business. They want to do things because it
sounds great, but they want someone to be alongside them
for the ride, and sometimes that's not the best decision.
Speaker 4 (13:05):
Yeah, okay, great advice.
Speaker 2 (13:06):
I don't know if it's great advice savage advice. And
also the last piece of advice that I got from
a friend was just don't get up.
Speaker 4 (13:15):
God. I love that. Good advice, So easy as that. Yeah,
great advice. V. Thank you.
Speaker 2 (13:20):
Okay, V.
Speaker 4 (13:21):
We're talking love and money at this point. Yeah, someone's
asking for your thoughts on the importance of a prenup
for couples considering marriage. I like that.
Speaker 2 (13:31):
So first things first, in Australia we don't have prenups.
We have binding financial agreements which are similar, but also
they can be disputed, so I think it's important to
know that going in. But I also think that a prenup,
like let's call it, that, is a good idea to
make sure that you're on the same page going into
a marriage. In saying that, it probably needs to happen
(13:54):
prior to marriage, because if you're in a de facto relationship,
you default to the same rules that apply to a
married couple. So it's kind of the same thing anyway,
Like if you moved in with your girlfriend and you
met all of the you know, criteria for being a
de facto couple, like, you're not treated that differently these
days as a married couple is, so we do have
to be quite careful. It also depends where you're starting from.
(14:17):
Like if you're nineteen and you're young and in love
and you've just gotten married and you have literally no
money to your name, do you need a prenup? Probably not,
because you haven't started the relationship with significant assets that
need to be taken into consideration. But if you're on
the flip side, and you know you're in your thirties,
maybe it's your second marriage and you have an inheritance
(14:39):
from a parent or a grandparent that you want to
make sure if you came out of that marriage was protected. Yes, absolutely,
I think we need a binding financial agreement. I also
think that it is really good practice to go into
a relationship with a clear exit strategy. And that sounds
terrible because like, no one wants their relationship to fall apart,
(15:00):
but I agree. I didn't marry my husband because I
want to divorce him. I married him because I wanted
his babies and I want to be with him for
the rest of my life. But being able to sit
down together and talk about, well, what if this didn't
work out, when we're both in the headspace of wanting
the best for each other, is a really good outcome
because that then becomes the fallback. So something might happen.
(15:21):
We might be really salty at each other and don't
even want to look at each other, but we have
this document that says, well, this is how our assets
will be divided up, this is how we would care
for our children, this is how we would do this.
Because we decided that when we actually wanted the best
for each other, and I think that that's really nice. Yeah,
so do I think you need one? Not necessarily, but
do I think that you should talk about an excess
(15:42):
strategy for your relationship? Absolutely, And it can be a
little bit more bid, Like isn't that a bit weird
to be? Like, you know, if I said to you
and Jess, hey, so what if this doesn't work out,
what you're going to do? Like you're like, oh, no,
this is going to work out, But like you have
to to put yourself in the best possible position, and like,
especially for women, we end up with the raw end
(16:03):
of the deal half the time. So like, what does
that look like? How is your partner going to advocate
for you? If you're hypothetically in this very stereotypical relationship.
You're both mid twenties, you're planning on getting married and
having kids, and it's very you know, heterosexual, Like great,
so are you going to take time off when your
(16:24):
husband goes to work and you have kids. What's going
to happen to your suberannuation, what's going to happen in
the future. I think that we just need to prepare
to make sure that everybody is treated equally.
Speaker 4 (16:35):
It's great advice. I actually I'm curious. Maybe it depends
on the agreement, but does that protect your future assets
or just like the current assets?
Speaker 2 (16:42):
No, so it protects current assets. Future assets are often
seen as created together. Oh yeah, which is why. And
I'm not a lawyer, so do not quote me, obviously,
if you're going through this, speak to a lawyer. But
it's why in a court of law, if a woman
stays at home, the man's not automatically going to get
all the money all the super Like. I have situations
(17:02):
where community members that I've spoken to are like, I
got sixty percent of his super You listen to it
on money daries all the time because when you sit down,
she took the hit for you having a career. The
reason you had a career was somebody was backing you
at home. Like, I think there's just this misconception that
being a stay at home mum or not earning an
(17:25):
income while your partner is means that you're not contributing
when you are, and I think that we need to
see it a little bit more equally.
Speaker 4 (17:33):
Completely agree. I think it's a really good time to
just jump to a quick break.
Speaker 2 (17:36):
Good idea.
Speaker 4 (17:37):
I'll get my questions in order, okay, and then we'll
see more when we come back. More when we come back.
Welcome back everyone. Today is a game show that's an
ask me anything for strictly Victoria.
Speaker 2 (17:50):
I'm not going to win any money apparently, so I'm
not sure where the game show part comes in. But
I'm glad you're having fun back.
Speaker 4 (17:56):
I'm having so much fun. I feel like I've already won.
You have one, okay, So this next one, I feel
like you're gonna love this. So it is about multi
level marketing. Oh, I am gonna love this. But I
have been all of you Instagram lately, and I know
you've been sharing your thoughts, so I do my thoughts. Well, yep,
they are spicy thoughts. Honestly, it feels like it's been
a full on solap opera and I've had my popcorn ready, so.
Speaker 2 (18:18):
I feel like so many people have too. Like I'm
not done.
Speaker 4 (18:22):
I'm so excited. You even dropped a whole episode on
the weekend about how dodgy MLMs can be. If you
haven't heard one of those yet, go back to episodes.
It was juicy. You do not want to miss it,
so v tell me what are your thoughts.
Speaker 2 (18:34):
I hate multi level marketing to my coreback that's why
I did a whole episode on it, and there are
more to come. Like, I'm not done, I haven't stopped.
I feel like this is a space that we need
education on because the most eye opening thing after dropping
that episode was that people that obviously weren't involved in
multi level marketing, like I didn't realize that this was
(18:56):
so awful. I didn't know this is how it worked.
I had no idea. And that's fantastic for you, but
you need to be educated because like if your friend's like, hey, Beck,
I've got this great shampoo, uh, You're gonna fall into
it and not know. So I think that as a community,
we deserve the education. But then on the flip side,
I see so much potential in these women and it's
going to waste on businesses that aren't theirs. So obviously
(19:20):
we did a whole episode. If you missed that, go
and listen to that. But I have a juicy interview
coming up. So doing all my research, I came across
a woman called Emily Lynn Paulson. Oh my gosh, Beck,
I'm obsessed. She has a book called hay Hunt. Okay,
isn't that so cute? That is cute. That's how so
many multi level marketing women start their conversations. They'll be like, oh, Heyhun, So,
(19:42):
I was watching your videos and I just thought, Beck,
you're doing such a good job. Have you ever thought
about the shampoo that you use? Like it actually kills me?
So she's used that, just taken it back. And her
book is called Hayhun Sales, Sisterhood, Supremacy, and the Other
Lies behind multi Level Marketing. And when I saw her write,
she made more than a million dollars in multi level
(20:02):
marketing and has now flipped and been like that was toxic,
that was awful. I'm so embarrassed. Yeah, in the first
like ninety pages of her book she talks about white supremacy.
She has gone hard, Like I have so much respect
for her. But we have a juicy interview coming up,
So if you want to hear more about multi level marketing,
that's the one that you want to tune into.
Speaker 4 (20:23):
Oh my god, I'm so excited for that.
Speaker 2 (20:25):
I mean, I don't want to talk about anything apart
from that. But that's okay, We've got more questions to
get through.
Speaker 4 (20:30):
Yeah, absolutely, we will get all the juicy, juicy juicy details,
I'm sure in that episode with Emily. Okay, so this
next question you have is how to raise capital for
a business idea I have Hypothetically it would require me
to buy a bit of stock.
Speaker 2 (20:44):
Okay. So obviously there are lots of different ways to
starting a business. There's bootstrapping. So bootstrapping is where you
like take on every expense yourself, like maybe you have
another job and you're funding it on the side. Maybe
you've got some savings' like, it's completely up to you.
I get really suspicious when people say I need to
(21:05):
raise capital for my business, because capital comes with a trade,
and that trade is for usually equity in your business.
And I am an advocate of women in particular owning
one hundred percent of their asset. So if you're saying,
I really need to raise capital for a business idea,
(21:26):
So capital is cash so that you can invest into
your business. So do you want you know, if I said, hey, Beck,
I'll give you one hundred grand for this business idea,
but I want thirty percent of your business. If you're
so invested in this business and you know it's going
to be successful. Do you really want to sell out
that early and lose that much percentage of your business
before you've even begun right, Like some businesses you definitely
(21:47):
need funding for but like I want you to have
dotted all your eyes, crossed all your teas and make
sure that you're in the best possible position before you've
done that. So have you done a full budget? Have
you done a forecast for a full year of expenses,
like all the way down to what is your website
hosting fee going to be? What is shipping going to cost?
You said you needed to buy stock. I'm assuming maybe
just like a retail business, you're buying stock. What is
(22:09):
the insurance going to cost to get that stock to
your warehouse? What is the warehouse going to cost? Like,
I want to know everything before you even think about
going into business and raising capital. If you're raising capital
and you don't have complete clarity on what that business
is becoming, you are not ready to raise capital. Well, like,
I just have a lot of thoughts about that. But
then also have you looked into business grants? Oh?
Speaker 4 (22:33):
True?
Speaker 2 (22:34):
Is that an option? There is so much money out
there and so many resources for small business owners to
get grants. Grants are literally like winning the business lottery
beck Like the government is going to gift you some
money just to help you with your business. If you
pitch it properly right, that's a better deal than giving
somebody else a cut of your business. Also, have you
(22:54):
thought about maybe saving for a little longer, Like if
you aren't ready to buite the bullet and you don't
have capital to start the business, should you stay in
your job a little bit longer, save a bit more,
and start it a little bit later. Or Obviously I
don't love debt, but business debt is an option. Could
you go to a bank and get a loan so
that you owe a bank money, pay that back and
(23:15):
you still own one hundred percent of your business. So
I think that there are a lot of thoughts and
feelings I have. How would you then raise capital? If
you've decided there are lots of different ways. There is crowdfunding,
There is you know angel investors, there is you know
business brokers that could go out and help you raise that.
There are heaps of options. But I would be trying
to avoid raising capital at all costs. Before trying to
(23:37):
raise capital, I think it should be the last thing.
Speaker 4 (23:41):
That is a lot to wrap my head around. But
I'm sure if you're in the business of wanting to
start a business.
Speaker 2 (23:47):
Yeah, please help me. Yeah, don't take people's cash holder
unless you really, really really have to.
Speaker 4 (23:52):
Absolutely, that's great advice for me. God, I'm trying.
Speaker 2 (23:54):
I'm trying you. Actually, I'm actually a business owner who
has had mulgeperience that has cost me hundreds, if not
millions of dollars. Sure it of so yeah, don't do that.
Speaker 4 (24:04):
Yeah, Okay. This one is one that I'm sure most
of our community have asked themselves. When should you see
your financial advisor? Do you need to have a certain
amount of savings or goals before you do?
Speaker 1 (24:14):
Well?
Speaker 2 (24:14):
It depends. And this is going to annoy all the
financial advisors, so close your little ears. But not everybody
needs a financial advisor. Sure, if you are somebody who
wants some help on your goals and your investments and
achieving them, then sure seeing a financial advisor will help.
But there is the ability to do it yourself. I'm
not saying it's the best option. It's kind of like
(24:35):
getting a gym membership back, Like if I went and
got a gym membership, and you went and got a
gym membership. I know you are so good at going
to the gym, but if I had the gym membership,
I'm not going because I don't have any accountability. So
a financial advisor is kind of like a personal trainer
in that they might get you in the gym, they
might actually get you doing your program. They might actually
get you investing and creating wealth and doing all of
(24:55):
those things. Maybe you feel like you've got to the
end of your dear why journey. You're investing, you're saving,
you've got super you've got a property, and you're like like,
maybe I need to take it to the next level.
That is when you might want to see a financial advisor.
Not everybody needs one, but if you're going to see one,
I think it's important to have a lot of clarity
around your goals because they're going to ask you. Like
(25:17):
in my fact find meetings when I was a financial advisor,
I want all the info like prior to the meeting,
like what you earn, what you spend, what you own,
what you owe. But then I want you to go,
why are you here? What do you want from me?
If you go, oh, I don't know. I just want
to be better at money. That's really hard because I
could have six million different outcomes for you depending on
your goals. But if you don't have goals, am I
(25:39):
picking your goals? Are you going to like?
Speaker 1 (25:40):
That?
Speaker 2 (25:41):
Probably not ideal. So before I saw a financial advisor,
I would sit down. I would do a full budget
because that's within your power. Like there is a free
budget on our website that you can download at any
time to do. I will do that for you for free. Literally,
go and download it and do it. If you want
to take it to the next level. We've got our
money master class that is a really good thing to
invest in. If you want to take your budget and
(26:02):
your cash flow to the next level, you can do
all of that. You can sit down, you can write
down your goals, you can write down what you want
to achieve. You can have a chat with your partner,
you can zoom out, you can look at your super fund.
You can call your super fund and have a chat
to the advisors there for free because it's included in
your super fees. Like, exhaust all of these options, I
would say before seeing a financial advisor, and then when
(26:23):
you decide I want to see financial advisor, that investment
is going to be worth it. Yeah, that investment is
going to help you be in the best possible financial position.
But no, you don't need to have certain savings. You
could have zero dollars to your name and seeing a
financial advisor makes sense.
Speaker 4 (26:37):
It's comforting.
Speaker 2 (26:38):
Or you could have one hundred million dollars and seeing
a financial advisor then makes sense. So it's not necessarily
about how much money you have, but how much value
you place on paying for advice.
Speaker 4 (26:49):
Okay, this one's a bit gzy. What are some financial
decisions you've made in the past five years that you
would change or that you regret.
Speaker 2 (26:58):
Oh, okay, lots To be honest, I am a very
good impulse purchaser. What's a small one that I made
this week? Are you ready? I am actually really embarrassed
by this. So I got back to the office the
other day after making this purchase and I said to
my whole team, I am embarrassed. I cannot believe I
just did this. I bought a dress last weekend for
(27:19):
two hundred and fifty dollars from chic. I really wanted it.
I have had my eye on it. Whatever bought the dress.
I am really short, so that dress needs to be
taken up, and I just in my head thought that's
not that expensive. So I went down to the tailor
and she's like, put the dress on Norri's. She marks
it all up for it being taken up, and I'm like, yep, Crogel,
(27:40):
no worry's going to go to the checkout beck one
hundred and sixty five dollars. It is a cotton dress, Like,
I don't think it's that complicated anyway, one hundred and
sixty five dollars. And the regret I have is that
I just didn't say anything. I felt sick. There was
somebody behind me waiting in the line, and I didn't
want to like student.
Speaker 4 (28:00):
And totally can't.
Speaker 2 (28:02):
I in that moment was like, but I am, she's
on the money. I should be questioning this, Like I
just want to get out of this situation. Got back
to the office. I regret that. I don't know if
I regret any of the really, really big mistakes. So
when I was twenty two, I took out a forty
thousand dollar personal loan so that I could buy a car,
I could travel to France and study, and I could
(28:23):
go on a holiday. In hindsight, I wish I had
better financial literacy so that I didn't make that decision.
But I feel like me being in that debt was
pivotal to creating my career and actually valuing money more.
I feel like I needed that kickup the butt. I
needed that stress, I needed that anxiety. I needed to
go through that to grow through that in a way.
(28:47):
And I don't think that today I would be as
good at managing my finances if I didn't have something
like that that puts significant pressure on me. No one
deserves to be in that amount of debt. But at
the same time, I don't regret it. I know at
the time I was doing the best that I could
with the tools and the reaci I had. So are
(29:07):
there big things that I would regret, Sure, But I
think the things that other people regret might not be
my regrets. It's personal, right, Absolutely, it's personal.
Speaker 4 (29:18):
We all on our own journey.
Speaker 2 (29:19):
Do I regret that one hundred and sixty five dollars
tailor charge. Absolutely, I'm still embarrassed by it, but that's okay.
Speaker 4 (29:26):
You come to me next time I chop it off.
Speaker 2 (29:27):
See, I feel like the dress would look better just hacked.
Speaker 4 (29:30):
At this point, it looks cool.
Speaker 2 (29:32):
But now what am I going to go do? Pick
it up and then wear it and just always be
annoyed by it. I don't know how this is going
to pan out.
Speaker 4 (29:38):
No money comes and goes.
Speaker 2 (29:40):
You say that. Now I do have my own questions,
but you've got your own questions. I'm ready.
Speaker 4 (29:45):
They're not educationional, they're not money.
Speaker 2 (29:47):
I feelated if you're asking them, I'm scared, but also
probably the community of thinking them as well. So what
are they?
Speaker 4 (29:54):
Okay? And you don't have to answer it.
Speaker 2 (29:55):
It is I like how you're prefacing it. But also
this is an AMA and I'm great.
Speaker 4 (30:00):
Yeah, I want to know what your first email address?
Speaker 2 (30:02):
Okay, it was pink Cotton Candy underscore xx at hotmail
dot com.
Speaker 4 (30:06):
Oh that's not too bad. Actually, if you still had that.
Speaker 2 (30:09):
That makes it. I don't I mean you could email it.
I don't know the log in. Yeah, like, I don't
know the password. I don't even know how to recover that.
But yeah, pink Cotton Candy underscore xx and.
Speaker 4 (30:20):
That was candy. Why I don't know that really paints
a picture of your teenage self.
Speaker 2 (30:25):
Yeah, it does, just it you don't want to know her?
She was interesting.
Speaker 4 (30:29):
Okay, the next one is really short and sweet. You
have any tattooes?
Speaker 1 (30:31):
Oh?
Speaker 2 (30:31):
Yes I do, I should, Yes, I do. I have
two tattoos. They're both on my face. They are my eyebrows.
That is it?
Speaker 3 (30:37):
Oh?
Speaker 2 (30:38):
Really? Yeah? Incredible? Yeah, I am too scared to get
a tattoo, not because of the pain, but because like
what if I changed my mind?
Speaker 4 (30:49):
Yeah, that's fair.
Speaker 2 (30:50):
I changed my mind all the time. Like I am
so noncommittal, like I love the idea of a tattoo,
but also like, oh, I don't know where i'd put it.
How do you even pick where you put your first tattoo?
And then I'm a creature of like balance, so like
if I get one on my left arm, do I
have to get one to match all my right arm?
Speaker 1 (31:08):
Like?
Speaker 2 (31:08):
Oh the anxiety?
Speaker 4 (31:10):
My first one was on my bum cheek. Maybe I
need to get on the other one now maybe? Okay?
And then if I had a tattoo, what do you
think it would have been if you had a tattoo?
Speaker 2 (31:18):
Yeah, that wasn't my eyebrows. Wasn't your eyebrows even count?
I don't know, I think they count.
Speaker 4 (31:23):
Okay, I think it's really really cool okay, so I
would think you would get.
Speaker 2 (31:29):
You think I would have a tramp stamp. Don't you
use like an angel or something?
Speaker 4 (31:33):
I think juicy just above your butt crack.
Speaker 2 (31:37):
Oh, I will put that in the suggestions box.
Speaker 4 (31:42):
Thank you if you could actually get that done.
Speaker 2 (31:45):
Do you know what again, suggestions box will come back
to it perfect.
Speaker 4 (31:49):
I just really quickly want to know your favorite color.
Speaker 2 (31:50):
My favorite color?
Speaker 4 (31:52):
No black, no blue, no, I actually can't think of
a single other color.
Speaker 2 (32:00):
Like orange.
Speaker 4 (32:01):
Oh, she's an orange girl.
Speaker 2 (32:02):
I really like orange, like but like more erring on
the side of like the yellow orange, like you know
that like verve clicko orange, like that champagne color. I
just feel like that is like so happy, just a
happy color like pink. Yeah, cool, Like I like pink,
it's the brand colors. But like you just look at
like a bright orange yellow and you go, that's happy.
(32:22):
I like, yeah, that's my favorite.
Speaker 4 (32:24):
Yeah okay, And then this one is not for me.
We're back on the money.
Speaker 2 (32:28):
So we've gone from email addresses back to money questions.
I like it.
Speaker 4 (32:31):
Okay, So what's yours and Steve's next financial goal and
what is a financial decision you'll make outside the norm
in the next few months.
Speaker 2 (32:39):
Outside the norm. Okay, I feel like those are two
different questions. So what is our next financial goal? So
full clarity, we currently have two mortgages and we would
like to extinguish one of those mortgages because the idea
of being in seven figures of debt is really ANXI inducing.
(33:00):
I really don't like it. So we are trying to
smash down one of those. We don't have any other
big spends. I think that we've been through that season
in our lives, like we have gotten married. That was
a big one. We bought our first home. We were
lucky enough to have enough equity in our first home
to buy our second property. So now I think it's
about settling down. I mean, I know that we want
(33:23):
to go on some more family holidays, but we went
on a big europe trip and so now we're kind
of like, oh, like I don't really want to do that.
I want to do it again, but like, financially, it's
just to us not a responsible use of our funds.
And I also, being completely transparent, sold down a lot
of my share portfolio to buy back the rest of
(33:44):
Zella money. So you know, a lot of people have
probably seen that I am now the again sole owner.
I had a business partner for a period of time.
I don't I would really like to bump all of
those investing dollars back up because I sold them down
so that I could purchase a business partner out. And
that's fine, that makes sense, and I was very grateful
to be in a situation where I could do that.
(34:05):
But yeah, I would like to get our investments back
on track because they definitely took a hit. And then
what is a financial decision that will make outside the norm?
I don't know if we'll make a financial decision that's
super outside the norm. We are currently landscaping, is that
the right word? Like we're doing our front yard, and
we got some big quotes back that I didn't anticipate
(34:27):
to do that, Like they were between fifty and seventy
thousand dollars for a front yard, and I just thought
that was a lot of money. So we'll probably spend
I don't know, maybe forty thousand dollars on our front
yard because it needs a whole driveway, so it's not
just like landscaping, Like we actually need to move the
entrance to our house, which is quite Spano.
Speaker 4 (34:45):
It's a big one.
Speaker 2 (34:46):
Yeah, that's probably a big expense that's coming up. But
we've also been talking about it because we bought that
house in twenty twenty, so this has been in the
works for the last four years.
Speaker 4 (34:55):
I see.
Speaker 2 (34:55):
So I don't want people thinking, oh, V just has
you know, cash sitting around, because I also think, following
onto that, that there is a very big misconception that
I earn heaps and heaps and heaps of money and
we are very comfortable. Please don't get me wrong, but
we also do budget and cash flow. And when I
say I love budgeting and cash flow, like I do
(35:16):
it for us every single month, like I'm on top
of that, and most of the income that she's on,
the money and Zella money make get reinvested back into
the business. And I want to be as transparent about
that at the same time as being a little bit
protective of that. Yeah, And the reason I want to
be protective of it is not because I'm embarrassed by it,
like in fact, my whole team know what I earn
(35:38):
and what I do, because I think being transparent is important.
But I am an outlier in this space. I'm not
employed by somebody. I control my income and I'm a
business owner of multiple businesses, So do I earn a
lot of money, yes, in comparison to what the average
income of an Australian is. I don't think that by
(36:02):
sharing my income with the community it actually helps you
or inspires you, because I'm not speaking most of the
time to other business owners where that's aspirational, and speaking
to people who are earning normal salaries who need me
to be an advocate, not somebody who's completely unrelatable, right,
And so my view on that is that it's not
constructive for the community to share that. But I have
(36:25):
shared how I budget, what I do, the templates like,
I will give you absolutely everything to be successful, and
I will be honest about you know where I can,
what I'm spending and what I'm earning. But I just
think that by sharing a number, it doesn't really give
you anything in exchange except for answering something pervy that
(36:49):
doesn't really contribute to the success of our community.
Speaker 4 (36:52):
Sure completely agree?
Speaker 2 (36:53):
Is that weird?
Speaker 4 (36:54):
No, not at all, even though I am always curious
about the little nitty gritty details. Yeah, what's that doing?
We don't need it? I know if you hear that.
That's the buzzer.
Speaker 2 (37:04):
Oh we could edit one in in post if we could.
Speaker 4 (37:07):
That would be lovely.
Speaker 2 (37:08):
That was a nice buzzer.
Speaker 4 (37:09):
What wow, that was allowed? Oh geez, really nostalgic. Time's
up for today's episode of Ask v Anything. We've battled
through your questions and we've all just won the grand prize.
Better financial knowledge?
Speaker 2 (37:22):
Is that? Better financial knowledge? You do know my email
address that I can't access and we're in cotton Candy
underscore xx if anybody would like to slide into my
emails which nobody.
Speaker 4 (37:32):
Checks, and we need to go fund me for your
next tattoo.
Speaker 2 (37:35):
That is true. That is true. We can again talk
about that at a later day.
Speaker 4 (37:40):
Really, Okay, don't worry. This is not the end of the.
Speaker 2 (37:42):
Game, isn't it. Oh No, apparently we're waiting for the
next one. So I guess if you want to do more, AMAS,
make sure that you're checking in on our Instagram because
that's where we drop all of the callouts and the
questions for episodes like this. And also I get the
opportunity to rant about multi level much. Yeah, so that
is really fun. Anyway, this has been kind of fun. Yeah,
(38:04):
I don't hate it, we can do it again, but
till then, we'll see you on Friday for a Friday
episode and we hope that you have the best week.
Speaker 4 (38:11):
Bye guys.
Speaker 3 (38:18):
The advice shared on She's on the Money is general
in nature and does not consider your individual circumstances. She's
on the Money exists purely for educational purposes and should
not be relied upon to make an investment or financial decision.
If you do choose to buy a financial product, read
the PDS TMD and obtain appropriate financial advice.
Speaker 2 (38:37):
Tailored towards your needs.
Speaker 3 (38:39):
Victoria Divine and She's on the Money are authorized representatives
of Money Shoper Pty Ltd ABN three two one IS
six four nine two seven seven zero eight AFSL four
five one two eight nine
Hello, my name's Satasha Nabananga Bamblet. I'm a proud yor
the Order KERNI Whoalbury and a waddery woman. And before
we get started on She's on the Money podcast, I
would like to acknowledge the traditional custodians of the land
of which this podcast is recorded on a wondery country,
acknowledging the elders, the ancestors and the next generation coming
(00:22):
through as this podcast is about connecting, empowering, knowledge sharing
and the storytelling of you to make a difference for
today and lasting impact for tomorrow.
Speaker 2 (00:33):
Let's get into it.
Speaker 3 (00:34):
She's on the Money, She's on the Money.
Speaker 4 (00:57):
Hello, and welcome to She's on the Money, the podcast
that's usually all about helping you master your money. But
today it's not just a podcast. It's a game show.
Speaker 2 (01:05):
It's a game show.
Speaker 4 (01:06):
I don't know how this is going to go, but
I'm actually really excited about it. Buckle up because this
isn't ask V anything show. I'm your host, becksied and
with me, I think you should be at all times.
Speaker 2 (01:18):
Yeah, okay, be prepared. I was a scout, so.
Speaker 4 (01:21):
Scouts always be terrified and worried. So today our brave contestant.
May I please welcome to the stage, Victoria Device.
Speaker 2 (01:30):
Oh, thank you for having me on this game show
that I didn't know was going to be a game show.
I thought it was going to be a podcast.
Speaker 4 (01:35):
Thank you for joining me.
Speaker 2 (01:37):
Oh, thank you for having me. I'm ready.
Speaker 4 (01:39):
I'm sorry for just throwing this on you.
Speaker 2 (01:40):
No, absolutely, let's go. I love a good game show.
What are we playing? And how much money do I
get to win?
Speaker 4 (01:46):
I tell you what you get to win? Exactly zero dollars?
Speaker 2 (01:49):
But Ris, can you double it?
Speaker 4 (01:52):
I'll have to ask my producer.
Speaker 2 (01:53):
Okay, all right, Sorry, you're asking for a lot.
Speaker 4 (01:55):
I know, I know I've started yet. Okay, so this
game is all about taking on the biggest, juiciest, trickiest
money questions sent in by our amazing listeners. Do you
think you're up for it?
Speaker 2 (02:05):
No? But also, let's go.
Speaker 4 (02:07):
I also have a few of my own. But okay, anyone, No.
Speaker 2 (02:10):
You can ask me anything.
Speaker 4 (02:11):
Apparently I was open to this amazing. Okay, so let's
jump straight into round one with our first question. So hypothetically,
I'm twenty seven. Mentally I think.
Speaker 2 (02:19):
It'd be nice, wouldn't it.
Speaker 4 (02:21):
I've got one hundred k saved.
Speaker 2 (02:22):
So okay, yeah, that is very hypothetical.
Speaker 4 (02:25):
That is very hypothetical. I don'nate a property. Should I
be investing in real estate or elsewhere? And at the
same time, someone else wanted to know the potential pros
and cons of buying a property versus using that fund
for the share market. So should we tackle them together?
Speaker 1 (02:40):
Yeah?
Speaker 2 (02:40):
Absolutely. I was really scared when you said it's an
ask anything and I've gone row and I was like,
oh no, but now you're asking me about my bread
and butter. So we're ready.
Speaker 4 (02:48):
So come back.
Speaker 2 (02:49):
You have one hundred thousand dollars saved and you're not
sure where to invest it. I think you need to
zoom out and have a think about what your values are, Like,
is property actually something you want to be investing in,
because it's a really big commitment. So you're going to
buy property, there's going to be probably some stamp duty,
some other fees and charges. Like there's a lack of
flexibility there. I mean, I'm not selling it. I own
(03:10):
a mortgage broken company, beck, so like I should be like, yeah,
what you want to do? Go talk to a Zella
money broker. But I think it is such a big
commitment beck that I feel like you've got to know
that you really want it before you get into it,
because if you want to then get your money back,
it's a hassle to get it back out. If we're
comparing apples with apples, and you want to look at
the investment market versus property in Australia, we know that
(03:34):
the share market performs on average higher than the property market.
But in saying that, if you're not passionate about the
share market, why are you investing in it? Like if
that's something that you're like, oh, I can't be bothered,
but the fire in my belly is lit because of property,
Like you're going to allocate more funds towards it, Like
we spend money on the things that are of value
(03:54):
to us. So it's not about which returns more. It's
actually about what aligns your values, what you want to do.
And I cannot tell you how to invest your hundred
thousand dollars, but I think it's important to talk about
they are two different asset classes and over your lifetime
you're probably gonna want to have a bit of both.
So if you've got one hundred grand, is it for
(04:15):
a home deposit. Is it for share market up to you? Okay,
that was really diplomatic, I suppose, But I can't give
that advice totally legally.
Speaker 4 (04:26):
Probably need to like look at the person.
Speaker 2 (04:28):
What I can tell you, Yeah, tell me don't invest
it in a multi level marketing business.
Speaker 4 (04:32):
Oh great advice?
Speaker 2 (04:33):
Yes, yeah, okay, I can definitively say that that is
a terrible idea across that off.
Speaker 4 (04:38):
Finally, welcome, Okay, the next one. I actually always wondered
about this too. So if multiple brokers offer a zero
dollar initial fee, are in using multiple brokers.
Speaker 2 (04:49):
Do you know how many credit checks you're going to
rack up?
Speaker 4 (04:53):
Of course I don't like that.
Speaker 2 (04:57):
No neither. I don't like that credit checks on your
account decrease your credit score over time, so we want
to minimize those. But on top of that, let's say
you want to go get a home loan with Bank
B and you're like, all right, Bank B, I really
want to go and get a five hundred thousand dollars
home loan. Then you have another broker working on that.
It actually is submitted under you, Beck, so you are
(05:20):
like personally identifiable. Another broker can't submit another deal to
the same bank. Without intercepting that and ruining your chances,
you're probably going to end up with a decline. I see.
It becomes an admin nightmare for that bank and they
don't like it. Also, a mortgage broker gets paid by
the bank. So this is my business zeller money and
(05:41):
that's why I can offer services to our clients for free,
which is the biggest money when ever, because we get
paid by the bank when your property settles. It is
so much work. Like we have a big team at
Zella because not only are you talking to a broker,
but you're talking to their CRM. You're then talking to
our admin team in the backround. You then go into
a settlements officer who's going to make sure that your
(06:03):
process is as smooth as possible and that all the
eyes are dotted and all the tea's across. We LaaS
directly with your conveyancer to make sure that they're doing
their job. But you're in the best possible position. We
are answering all your questions along the way and making
sure that you are feeling supported my brokers. Not that
you should be calling your brokers after hours, but they
(06:24):
answer the phone on the weekends. They answer the phone
after hours. They do not want our clients to be stressed.
That is a lot of time, energy and effort to
be put in for something that then ultimately doesn't convert
because you were playing the game. I see, like, I
don't think it is fair. I do think that if
you're on the fence, have an initial meeting with a broker, absolutely,
(06:45):
but at the end of the day, work with someone
that you resonate with, because if there is a right
answer for your situation, both brokers should come to the
same conclusion. Beck true, they should be, you know, analyzing
it in a certain way and probably be putting the
same bank forward. But it takes us a lot of work.
It's not just like a quick half an hour meeting
with a broker. Like in the background, we are doing
(07:06):
so much work, so much research to make sure that
you are in the best possible position. If you're doing
that to multiple people, you're wasting their time and that
is not cool.
Speaker 4 (07:14):
That's so true. I did notice that when my partner
was buying a property, she was messaging them on Sunday,
and I was like, are you allowed to do that?
Speaker 2 (07:21):
I know that you should obviously respect business hours and
all of that, but like, if you're stressed and want
that support, I want to hold your hand and make
sure that you're in the best possible position. And I
don't want my clients being stressed because they're like, oh
my god, are we okay for settlement? Yeah, girl, of
course we are. Like if that's all it takes out
of our day, great, exactly.
Speaker 4 (07:39):
Okay, This next one's a good one for all of
us in this cozy liv crisis.
Speaker 2 (07:43):
Yeah.
Speaker 4 (07:44):
So, hypothetically, I'm a stay at home mum looking to
an extra income. Do you have any tips?
Speaker 2 (07:50):
I do multi level marketing.
Speaker 4 (07:52):
Let's take that out of context and put it on socials.
Speaker 2 (07:56):
Yeah, actually, put it on a T shirt uneducated, which
is what I'm going for. So do I have some
tips and tricks?
Speaker 1 (08:03):
Yes.
Speaker 2 (08:03):
I want you to just stay vigilant and know that
if it seems too good to be true, it probably is.
There are so many opportunities that are going to be
presented to you because you are a stay at home mum,
because you are relatively vulnerable in this situation, because like
the end of the day, you want to stay home
with your kids, like, and I get that, Like, if
you've decided that you need an extra income so that
(08:25):
you can spend more time with them. And someone comes
along and says, hey, back, so I've got this great
business opportunity. You just sign up. Not hard for you
to do three hundred bucks. You can make so much
money on the side, and you can take your kids
to the park whenever. You can work from wherever. Sounds great,
doesn't it. But you need to stay vigilant. I would say,
in terms of earning extra income, air tasker is fantastic.
(08:47):
Are there any tasks that you could pick up? And
do you know, if it's a courier job, can the
kids come with you? Can you you know, do a
few things here and there. Are there any handicrafts that
you can do online surveys that you could do. Is
there a way that you could get a work from
home job, Like one of our community members has recently
gotten a job as a medical transcriber.
Speaker 4 (09:08):
I was gonna say transcribing is pretty good.
Speaker 2 (09:09):
Yeah, it's pretty good, and she's earning so much money.
She's only like forty five bucks an hour or something.
It's good to transcribe medical records because they want to
keep them on file. But she's like, it doesn't matter
if I do that at nine am, or I'm doing
it at nine pm. I do it when my kid
is asleep, and they're fine with that. There are so
many options out there that don't involve you ending up
(09:30):
in a worse off situation. But I also need you
to know that if you're looking for a way to
earn extra income while still having that lifestyle as estate
at her mum, there is always going to be some
level of compromise, Like you can't have your cake and
eat it too. And maybe this is going to sound tough.
Maybe the realization is this is a season of life.
I'm going to earn less right now while I'm focusing
(09:51):
on my kids, and then once they're at school or
once they're doing this, I can go back to earning
an income. You don't actually need to do it all.
I feel like there's this boss babe mentality online of like,
if you're going to be a stay at home mum,
you also need to be working on yourself and you
also need to be having a side hustle. And if
you don't get up at five am and go to
the gym before the kids wake up, like what are
you even doing? Absolutely insane, unrealistic, expectations being put on parents,
(10:13):
Like if you want an extra income stream, great, let's
find one for you, but don't do it because you're
feeling the pressure because other people are doing it.
Speaker 4 (10:20):
Yeah. One Also, don't forget clinical trials.
Speaker 2 (10:23):
Sometimes no clinical trials.
Speaker 4 (10:25):
Clinical trials, let's take that.
Speaker 2 (10:27):
You can do that one.
Speaker 4 (10:29):
That one, Okay, the sext one is a good one.
I feel like I've said that four of them so far,
but they're all good. It's about those golden nuggets of wisdom,
your favorite advice from a mentor or person that you
still use to this day.
Speaker 2 (10:41):
Like the advice or the person, because like I feel
like mentors come and.
Speaker 4 (10:44):
Go true maybe both.
Speaker 2 (10:46):
If you have favorite advice, I feel like my dad
is that lame. That's probably lame. That'squ welcome dad. So
there's probably a few pieces of advice. The first one
is honesty tempered with mercy. WHOA, So that is something
that he's always said. Just because it's true doesn't mean
(11:09):
you have to say it. So like you know, if
something at work is happening and you know it's not working,
like always just being like am I being kind in
this moment? Or am I just saying it? Because I can.
I think that's something that I've always taken, especially in
Cheese on the money, Like, we have to be honest
because like, at the end of the day, I need
to put you in a best possible position. But you
(11:29):
don't need to crucify someone, like say you're firing someone
and they're just not the right fit. But they've also
been messing up a little bit and you've given them
a few reasons as to why you don't need to
double down and absolutely bury that person on the way out,
Like that is not what you need to do. So
like honesty, because like people deserve the truth, but like
sometimes you need to temper it with mercy. I think
(11:49):
is really good. Yes, the second piece of advice my
dad gave me was the best number of business partners
is an odd number of less than three. And I
really wish I had listened to him at the very start,
because that essentially is him saying, don't have business partners.
That sounds savage because I have had a few of
(12:10):
them now, and upon reflection, I have always taken on
a business partner because I didn't have the confidence that
I could do it myself. I thought that I needed
somebody else's support to be successful. I thought that I
needed somebody else to hold my hand through that section.
And the reality is, nobody knows my business is better
than me. No one cares about my businesses more than me,
(12:32):
No one cares about my mission more than me, and
so then it should just be me. At the end
of the day. My businesses are better off with me
making those decisions because I do lead in a way
that not everybody leads, and that's okay, But I think
it's important to kind of back yourself. Like I think
so often small business owners, especially women, they want to
(12:56):
be in business. They want to do things because it
sounds great, but they want someone to be alongside them
for the ride, and sometimes that's not the best decision.
Speaker 4 (13:05):
Yeah, okay, great advice.
Speaker 2 (13:06):
I don't know if it's great advice savage advice. And
also the last piece of advice that I got from
a friend was just don't get up.
Speaker 4 (13:15):
God. I love that. Good advice, So easy as that. Yeah,
great advice. V. Thank you.
Speaker 2 (13:20):
Okay, V.
Speaker 4 (13:21):
We're talking love and money at this point. Yeah, someone's
asking for your thoughts on the importance of a prenup
for couples considering marriage. I like that.
Speaker 2 (13:31):
So first things first, in Australia we don't have prenups.
We have binding financial agreements which are similar, but also
they can be disputed, so I think it's important to
know that going in. But I also think that a prenup,
like let's call it, that, is a good idea to
make sure that you're on the same page going into
a marriage. In saying that, it probably needs to happen
(13:54):
prior to marriage, because if you're in a de facto relationship,
you default to the same rules that apply to a
married couple. So it's kind of the same thing anyway,
Like if you moved in with your girlfriend and you
met all of the you know, criteria for being a
de facto couple, like, you're not treated that differently these
days as a married couple is, so we do have
to be quite careful. It also depends where you're starting from.
(14:17):
Like if you're nineteen and you're young and in love
and you've just gotten married and you have literally no
money to your name, do you need a prenup? Probably not,
because you haven't started the relationship with significant assets that
need to be taken into consideration. But if you're on
the flip side, and you know you're in your thirties,
maybe it's your second marriage and you have an inheritance
(14:39):
from a parent or a grandparent that you want to
make sure if you came out of that marriage was protected. Yes, absolutely,
I think we need a binding financial agreement. I also
think that it is really good practice to go into
a relationship with a clear exit strategy. And that sounds
terrible because like, no one wants their relationship to fall apart,
(15:00):
but I agree. I didn't marry my husband because I
want to divorce him. I married him because I wanted
his babies and I want to be with him for
the rest of my life. But being able to sit
down together and talk about, well, what if this didn't
work out, when we're both in the headspace of wanting
the best for each other, is a really good outcome
because that then becomes the fallback. So something might happen.
(15:21):
We might be really salty at each other and don't
even want to look at each other, but we have
this document that says, well, this is how our assets
will be divided up, this is how we would care
for our children, this is how we would do this.
Because we decided that when we actually wanted the best
for each other, and I think that that's really nice. Yeah,
so do I think you need one? Not necessarily, but
do I think that you should talk about an excess
(15:42):
strategy for your relationship? Absolutely, And it can be a
little bit more bid, Like isn't that a bit weird
to be? Like, you know, if I said to you
and Jess, hey, so what if this doesn't work out,
what you're going to do? Like you're like, oh, no,
this is going to work out, But like you have
to to put yourself in the best possible position, and like,
especially for women, we end up with the raw end
(16:03):
of the deal half the time. So like, what does
that look like? How is your partner going to advocate
for you? If you're hypothetically in this very stereotypical relationship.
You're both mid twenties, you're planning on getting married and
having kids, and it's very you know, heterosexual, Like great,
so are you going to take time off when your
(16:24):
husband goes to work and you have kids. What's going
to happen to your suberannuation, what's going to happen in
the future. I think that we just need to prepare
to make sure that everybody is treated equally.
Speaker 4 (16:35):
It's great advice. I actually I'm curious. Maybe it depends
on the agreement, but does that protect your future assets
or just like the current assets?
Speaker 2 (16:42):
No, so it protects current assets. Future assets are often
seen as created together. Oh yeah, which is why. And
I'm not a lawyer, so do not quote me, obviously,
if you're going through this, speak to a lawyer. But
it's why in a court of law, if a woman
stays at home, the man's not automatically going to get
all the money all the super Like. I have situations
(17:02):
where community members that I've spoken to are like, I
got sixty percent of his super You listen to it
on money daries all the time because when you sit down,
she took the hit for you having a career. The
reason you had a career was somebody was backing you
at home. Like, I think there's just this misconception that
being a stay at home mum or not earning an
(17:25):
income while your partner is means that you're not contributing
when you are, and I think that we need to
see it a little bit more equally.
Speaker 4 (17:33):
Completely agree. I think it's a really good time to
just jump to a quick break.
Speaker 2 (17:36):
Good idea.
Speaker 4 (17:37):
I'll get my questions in order, okay, and then we'll
see more when we come back. More when we come back.
Welcome back everyone. Today is a game show that's an
ask me anything for strictly Victoria.
Speaker 2 (17:50):
I'm not going to win any money apparently, so I'm
not sure where the game show part comes in. But
I'm glad you're having fun back.
Speaker 4 (17:56):
I'm having so much fun. I feel like I've already won.
You have one, okay, So this next one, I feel
like you're gonna love this. So it is about multi
level marketing. Oh, I am gonna love this. But I
have been all of you Instagram lately, and I know
you've been sharing your thoughts, so I do my thoughts. Well, yep,
they are spicy thoughts. Honestly, it feels like it's been
a full on solap opera and I've had my popcorn ready, so.
Speaker 2 (18:18):
I feel like so many people have too. Like I'm
not done.
Speaker 4 (18:22):
I'm so excited. You even dropped a whole episode on
the weekend about how dodgy MLMs can be. If you
haven't heard one of those yet, go back to episodes.
It was juicy. You do not want to miss it,
so v tell me what are your thoughts.
Speaker 2 (18:34):
I hate multi level marketing to my coreback that's why
I did a whole episode on it, and there are
more to come. Like, I'm not done, I haven't stopped.
I feel like this is a space that we need
education on because the most eye opening thing after dropping
that episode was that people that obviously weren't involved in
multi level marketing, like I didn't realize that this was
(18:56):
so awful. I didn't know this is how it worked.
I had no idea. And that's fantastic for you, but
you need to be educated because like if your friend's like, hey, Beck,
I've got this great shampoo, uh, You're gonna fall into
it and not know. So I think that as a community,
we deserve the education. But then on the flip side,
I see so much potential in these women and it's
going to waste on businesses that aren't theirs. So obviously
(19:20):
we did a whole episode. If you missed that, go
and listen to that. But I have a juicy interview
coming up. So doing all my research, I came across
a woman called Emily Lynn Paulson. Oh my gosh, Beck,
I'm obsessed. She has a book called hay Hunt. Okay,
isn't that so cute? That is cute. That's how so
many multi level marketing women start their conversations. They'll be like, oh, Heyhun, So,
(19:42):
I was watching your videos and I just thought, Beck,
you're doing such a good job. Have you ever thought
about the shampoo that you use? Like it actually kills me?
So she's used that, just taken it back. And her
book is called Hayhun Sales, Sisterhood, Supremacy, and the Other
Lies behind multi Level Marketing. And when I saw her write,
she made more than a million dollars in multi level
(20:02):
marketing and has now flipped and been like that was toxic,
that was awful. I'm so embarrassed. Yeah, in the first
like ninety pages of her book she talks about white supremacy.
She has gone hard, Like I have so much respect
for her. But we have a juicy interview coming up,
So if you want to hear more about multi level marketing,
that's the one that you want to tune into.
Speaker 4 (20:23):
Oh my god, I'm so excited for that.
Speaker 2 (20:25):
I mean, I don't want to talk about anything apart
from that. But that's okay, We've got more questions to
get through.
Speaker 4 (20:30):
Yeah, absolutely, we will get all the juicy, juicy juicy details,
I'm sure in that episode with Emily. Okay, so this
next question you have is how to raise capital for
a business idea I have Hypothetically it would require me
to buy a bit of stock.
Speaker 2 (20:44):
Okay. So obviously there are lots of different ways to
starting a business. There's bootstrapping. So bootstrapping is where you
like take on every expense yourself, like maybe you have
another job and you're funding it on the side. Maybe
you've got some savings' like, it's completely up to you.
I get really suspicious when people say I need to
(21:05):
raise capital for my business, because capital comes with a trade,
and that trade is for usually equity in your business.
And I am an advocate of women in particular owning
one hundred percent of their asset. So if you're saying,
I really need to raise capital for a business idea,
(21:26):
So capital is cash so that you can invest into
your business. So do you want you know, if I said, hey, Beck,
I'll give you one hundred grand for this business idea,
but I want thirty percent of your business. If you're
so invested in this business and you know it's going
to be successful. Do you really want to sell out
that early and lose that much percentage of your business
before you've even begun right, Like some businesses you definitely
(21:47):
need funding for but like I want you to have
dotted all your eyes, crossed all your teas and make
sure that you're in the best possible position before you've
done that. So have you done a full budget? Have
you done a forecast for a full year of expenses,
like all the way down to what is your website
hosting fee going to be? What is shipping going to cost?
You said you needed to buy stock. I'm assuming maybe
just like a retail business, you're buying stock. What is
(22:09):
the insurance going to cost to get that stock to
your warehouse? What is the warehouse going to cost? Like,
I want to know everything before you even think about
going into business and raising capital. If you're raising capital
and you don't have complete clarity on what that business
is becoming, you are not ready to raise capital. Well, like,
I just have a lot of thoughts about that. But
then also have you looked into business grants? Oh?
Speaker 4 (22:33):
True?
Speaker 2 (22:34):
Is that an option? There is so much money out
there and so many resources for small business owners to
get grants. Grants are literally like winning the business lottery
beck Like the government is going to gift you some
money just to help you with your business. If you
pitch it properly right, that's a better deal than giving
somebody else a cut of your business. Also, have you
(22:54):
thought about maybe saving for a little longer, Like if
you aren't ready to buite the bullet and you don't
have capital to start the business, should you stay in
your job a little bit longer, save a bit more,
and start it a little bit later. Or Obviously I
don't love debt, but business debt is an option. Could
you go to a bank and get a loan so
that you owe a bank money, pay that back and
(23:15):
you still own one hundred percent of your business. So
I think that there are a lot of thoughts and
feelings I have. How would you then raise capital? If
you've decided there are lots of different ways. There is crowdfunding,
There is you know angel investors, there is you know
business brokers that could go out and help you raise that.
There are heaps of options. But I would be trying
to avoid raising capital at all costs. Before trying to
(23:37):
raise capital, I think it should be the last thing.
Speaker 4 (23:41):
That is a lot to wrap my head around. But
I'm sure if you're in the business of wanting to
start a business.
Speaker 2 (23:47):
Yeah, please help me. Yeah, don't take people's cash holder
unless you really, really really have to.
Speaker 4 (23:52):
Absolutely, that's great advice for me. God, I'm trying.
Speaker 2 (23:54):
I'm trying you. Actually, I'm actually a business owner who
has had mulgeperience that has cost me hundreds, if not
millions of dollars. Sure it of so yeah, don't do that.
Speaker 4 (24:04):
Yeah, Okay. This one is one that I'm sure most
of our community have asked themselves. When should you see
your financial advisor? Do you need to have a certain
amount of savings or goals before you do?
Speaker 1 (24:14):
Well?
Speaker 2 (24:14):
It depends. And this is going to annoy all the
financial advisors, so close your little ears. But not everybody
needs a financial advisor. Sure, if you are somebody who
wants some help on your goals and your investments and
achieving them, then sure seeing a financial advisor will help.
But there is the ability to do it yourself. I'm
not saying it's the best option. It's kind of like
(24:35):
getting a gym membership back, Like if I went and
got a gym membership, and you went and got a
gym membership. I know you are so good at going
to the gym, but if I had the gym membership,
I'm not going because I don't have any accountability. So
a financial advisor is kind of like a personal trainer
in that they might get you in the gym, they
might actually get you doing your program. They might actually
get you investing and creating wealth and doing all of
(24:55):
those things. Maybe you feel like you've got to the
end of your dear why journey. You're investing, you're saving,
you've got super you've got a property, and you're like like,
maybe I need to take it to the next level.
That is when you might want to see a financial advisor.
Not everybody needs one, but if you're going to see one,
I think it's important to have a lot of clarity
around your goals because they're going to ask you. Like
(25:17):
in my fact find meetings when I was a financial advisor,
I want all the info like prior to the meeting,
like what you earn, what you spend, what you own,
what you owe. But then I want you to go,
why are you here? What do you want from me?
If you go, oh, I don't know. I just want
to be better at money. That's really hard because I
could have six million different outcomes for you depending on
your goals. But if you don't have goals, am I
(25:39):
picking your goals? Are you going to like?
Speaker 1 (25:40):
That?
Speaker 2 (25:41):
Probably not ideal. So before I saw a financial advisor,
I would sit down. I would do a full budget
because that's within your power. Like there is a free
budget on our website that you can download at any
time to do. I will do that for you for free. Literally,
go and download it and do it. If you want
to take it to the next level. We've got our
money master class that is a really good thing to
invest in. If you want to take your budget and
(26:02):
your cash flow to the next level, you can do
all of that. You can sit down, you can write
down your goals, you can write down what you want
to achieve. You can have a chat with your partner,
you can zoom out, you can look at your super fund.
You can call your super fund and have a chat
to the advisors there for free because it's included in
your super fees. Like, exhaust all of these options, I
would say before seeing a financial advisor, and then when
(26:23):
you decide I want to see financial advisor, that investment
is going to be worth it. Yeah, that investment is
going to help you be in the best possible financial position.
But no, you don't need to have certain savings. You
could have zero dollars to your name and seeing a
financial advisor makes sense.
Speaker 4 (26:37):
It's comforting.
Speaker 2 (26:38):
Or you could have one hundred million dollars and seeing
a financial advisor then makes sense. So it's not necessarily
about how much money you have, but how much value
you place on paying for advice.
Speaker 4 (26:49):
Okay, this one's a bit gzy. What are some financial
decisions you've made in the past five years that you
would change or that you regret.
Speaker 2 (26:58):
Oh, okay, lots To be honest, I am a very
good impulse purchaser. What's a small one that I made
this week? Are you ready? I am actually really embarrassed
by this. So I got back to the office the
other day after making this purchase and I said to
my whole team, I am embarrassed. I cannot believe I
just did this. I bought a dress last weekend for
(27:19):
two hundred and fifty dollars from chic. I really wanted it.
I have had my eye on it. Whatever bought the dress.
I am really short, so that dress needs to be
taken up, and I just in my head thought that's
not that expensive. So I went down to the tailor
and she's like, put the dress on Norri's. She marks
it all up for it being taken up, and I'm like, yep, Crogel,
(27:40):
no worry's going to go to the checkout beck one
hundred and sixty five dollars. It is a cotton dress, Like,
I don't think it's that complicated anyway, one hundred and
sixty five dollars. And the regret I have is that
I just didn't say anything. I felt sick. There was
somebody behind me waiting in the line, and I didn't
want to like student.
Speaker 4 (28:00):
And totally can't.
Speaker 2 (28:02):
I in that moment was like, but I am, she's
on the money. I should be questioning this, Like I
just want to get out of this situation. Got back
to the office. I regret that. I don't know if
I regret any of the really, really big mistakes. So
when I was twenty two, I took out a forty
thousand dollar personal loan so that I could buy a car,
I could travel to France and study, and I could
(28:23):
go on a holiday. In hindsight, I wish I had
better financial literacy so that I didn't make that decision.
But I feel like me being in that debt was
pivotal to creating my career and actually valuing money more.
I feel like I needed that kickup the butt. I
needed that stress, I needed that anxiety. I needed to
go through that to grow through that in a way.
(28:47):
And I don't think that today I would be as
good at managing my finances if I didn't have something
like that that puts significant pressure on me. No one
deserves to be in that amount of debt. But at
the same time, I don't regret it. I know at
the time I was doing the best that I could
with the tools and the reaci I had. So are
(29:07):
there big things that I would regret, Sure, But I
think the things that other people regret might not be
my regrets. It's personal, right, Absolutely, it's personal.
Speaker 4 (29:18):
We all on our own journey.
Speaker 2 (29:19):
Do I regret that one hundred and sixty five dollars
tailor charge. Absolutely, I'm still embarrassed by it, but that's okay.
Speaker 4 (29:26):
You come to me next time I chop it off.
Speaker 2 (29:27):
See, I feel like the dress would look better just hacked.
Speaker 4 (29:30):
At this point, it looks cool.
Speaker 2 (29:32):
But now what am I going to go do? Pick
it up and then wear it and just always be
annoyed by it. I don't know how this is going
to pan out.
Speaker 4 (29:38):
No money comes and goes.
Speaker 2 (29:40):
You say that. Now I do have my own questions,
but you've got your own questions. I'm ready.
Speaker 4 (29:45):
They're not educationional, they're not money.
Speaker 2 (29:47):
I feelated if you're asking them, I'm scared, but also
probably the community of thinking them as well. So what
are they?
Speaker 4 (29:54):
Okay? And you don't have to answer it.
Speaker 2 (29:55):
It is I like how you're prefacing it. But also
this is an AMA and I'm great.
Speaker 4 (30:00):
Yeah, I want to know what your first email address?
Speaker 2 (30:02):
Okay, it was pink Cotton Candy underscore xx at hotmail
dot com.
Speaker 4 (30:06):
Oh that's not too bad. Actually, if you still had that.
Speaker 2 (30:09):
That makes it. I don't I mean you could email it.
I don't know the log in. Yeah, like, I don't
know the password. I don't even know how to recover that.
But yeah, pink Cotton Candy underscore xx and.
Speaker 4 (30:20):
That was candy. Why I don't know that really paints
a picture of your teenage self.
Speaker 2 (30:25):
Yeah, it does, just it you don't want to know her?
She was interesting.
Speaker 4 (30:29):
Okay, the next one is really short and sweet. You
have any tattooes?
Speaker 1 (30:31):
Oh?
Speaker 2 (30:31):
Yes I do, I should, Yes, I do. I have
two tattoos. They're both on my face. They are my eyebrows.
That is it?
Speaker 3 (30:37):
Oh?
Speaker 2 (30:38):
Really? Yeah? Incredible? Yeah, I am too scared to get
a tattoo, not because of the pain, but because like
what if I changed my mind?
Speaker 4 (30:49):
Yeah, that's fair.
Speaker 2 (30:50):
I changed my mind all the time. Like I am
so noncommittal, like I love the idea of a tattoo,
but also like, oh, I don't know where i'd put it.
How do you even pick where you put your first tattoo?
And then I'm a creature of like balance, so like
if I get one on my left arm, do I
have to get one to match all my right arm?
Speaker 1 (31:08):
Like?
Speaker 2 (31:08):
Oh the anxiety?
Speaker 4 (31:10):
My first one was on my bum cheek. Maybe I
need to get on the other one now maybe? Okay?
And then if I had a tattoo, what do you
think it would have been if you had a tattoo?
Speaker 2 (31:18):
Yeah, that wasn't my eyebrows. Wasn't your eyebrows even count?
I don't know, I think they count.
Speaker 4 (31:23):
Okay, I think it's really really cool okay, so I
would think you would get.
Speaker 2 (31:29):
You think I would have a tramp stamp. Don't you
use like an angel or something?
Speaker 4 (31:33):
I think juicy just above your butt crack.
Speaker 2 (31:37):
Oh, I will put that in the suggestions box.
Speaker 4 (31:42):
Thank you if you could actually get that done.
Speaker 2 (31:45):
Do you know what again, suggestions box will come back
to it perfect.
Speaker 4 (31:49):
I just really quickly want to know your favorite color.
Speaker 2 (31:50):
My favorite color?
Speaker 4 (31:52):
No black, no blue, no, I actually can't think of
a single other color.
Speaker 2 (32:00):
Like orange.
Speaker 4 (32:01):
Oh, she's an orange girl.
Speaker 2 (32:02):
I really like orange, like but like more erring on
the side of like the yellow orange, like you know
that like verve clicko orange, like that champagne color. I
just feel like that is like so happy, just a
happy color like pink. Yeah, cool, Like I like pink,
it's the brand colors. But like you just look at
like a bright orange yellow and you go, that's happy.
(32:22):
I like, yeah, that's my favorite.
Speaker 4 (32:24):
Yeah okay, And then this one is not for me.
We're back on the money.
Speaker 2 (32:28):
So we've gone from email addresses back to money questions.
I like it.
Speaker 4 (32:31):
Okay, So what's yours and Steve's next financial goal and
what is a financial decision you'll make outside the norm
in the next few months.
Speaker 2 (32:39):
Outside the norm. Okay, I feel like those are two
different questions. So what is our next financial goal? So
full clarity, we currently have two mortgages and we would
like to extinguish one of those mortgages because the idea
of being in seven figures of debt is really ANXI inducing.
(33:00):
I really don't like it. So we are trying to
smash down one of those. We don't have any other
big spends. I think that we've been through that season
in our lives, like we have gotten married. That was
a big one. We bought our first home. We were
lucky enough to have enough equity in our first home
to buy our second property. So now I think it's
about settling down. I mean, I know that we want
(33:23):
to go on some more family holidays, but we went
on a big europe trip and so now we're kind
of like, oh, like I don't really want to do that.
I want to do it again, but like, financially, it's
just to us not a responsible use of our funds.
And I also, being completely transparent, sold down a lot
of my share portfolio to buy back the rest of
(33:44):
Zella money. So you know, a lot of people have
probably seen that I am now the again sole owner.
I had a business partner for a period of time.
I don't I would really like to bump all of
those investing dollars back up because I sold them down
so that I could purchase a business partner out. And
that's fine, that makes sense, and I was very grateful
to be in a situation where I could do that.
(34:05):
But yeah, I would like to get our investments back
on track because they definitely took a hit. And then
what is a financial decision that will make outside the norm?
I don't know if we'll make a financial decision that's
super outside the norm. We are currently landscaping, is that
the right word? Like we're doing our front yard, and
we got some big quotes back that I didn't anticipate
(34:27):
to do that, Like they were between fifty and seventy
thousand dollars for a front yard, and I just thought
that was a lot of money. So we'll probably spend
I don't know, maybe forty thousand dollars on our front
yard because it needs a whole driveway, so it's not
just like landscaping, Like we actually need to move the
entrance to our house, which is quite Spano.
Speaker 4 (34:45):
It's a big one.
Speaker 2 (34:46):
Yeah, that's probably a big expense that's coming up. But
we've also been talking about it because we bought that
house in twenty twenty, so this has been in the
works for the last four years.
Speaker 4 (34:55):
I see.
Speaker 2 (34:55):
So I don't want people thinking, oh, V just has
you know, cash sitting around, because I also think, following
onto that, that there is a very big misconception that
I earn heaps and heaps and heaps of money and
we are very comfortable. Please don't get me wrong, but
we also do budget and cash flow. And when I
say I love budgeting and cash flow, like I do
(35:16):
it for us every single month, like I'm on top
of that, and most of the income that she's on,
the money and Zella money make get reinvested back into
the business. And I want to be as transparent about
that at the same time as being a little bit
protective of that. Yeah, And the reason I want to
be protective of it is not because I'm embarrassed by it,
like in fact, my whole team know what I earn
(35:38):
and what I do, because I think being transparent is important.
But I am an outlier in this space. I'm not
employed by somebody. I control my income and I'm a
business owner of multiple businesses, So do I earn a
lot of money, yes, in comparison to what the average
income of an Australian is. I don't think that by
(36:02):
sharing my income with the community it actually helps you
or inspires you, because I'm not speaking most of the
time to other business owners where that's aspirational, and speaking
to people who are earning normal salaries who need me
to be an advocate, not somebody who's completely unrelatable, right,
And so my view on that is that it's not
constructive for the community to share that. But I have
(36:25):
shared how I budget, what I do, the templates like,
I will give you absolutely everything to be successful, and
I will be honest about you know where I can,
what I'm spending and what I'm earning. But I just
think that by sharing a number, it doesn't really give
you anything in exchange except for answering something pervy that
(36:49):
doesn't really contribute to the success of our community.
Speaker 4 (36:52):
Sure completely agree?
Speaker 2 (36:53):
Is that weird?
Speaker 4 (36:54):
No, not at all, even though I am always curious
about the little nitty gritty details. Yeah, what's that doing?
We don't need it? I know if you hear that.
That's the buzzer.
Speaker 2 (37:04):
Oh we could edit one in in post if we could.
Speaker 4 (37:07):
That would be lovely.
Speaker 2 (37:08):
That was a nice buzzer.
Speaker 4 (37:09):
What wow, that was allowed? Oh geez, really nostalgic. Time's
up for today's episode of Ask v Anything. We've battled
through your questions and we've all just won the grand prize.
Better financial knowledge?
Speaker 2 (37:22):
Is that? Better financial knowledge? You do know my email
address that I can't access and we're in cotton Candy
underscore xx if anybody would like to slide into my
emails which nobody.
Speaker 4 (37:32):
Checks, and we need to go fund me for your
next tattoo.
Speaker 2 (37:35):
That is true. That is true. We can again talk
about that at a later day.
Speaker 4 (37:40):
Really, Okay, don't worry. This is not the end of the.
Speaker 2 (37:42):
Game, isn't it. Oh No, apparently we're waiting for the
next one. So I guess if you want to do more, AMAS,
make sure that you're checking in on our Instagram because
that's where we drop all of the callouts and the
questions for episodes like this. And also I get the
opportunity to rant about multi level much. Yeah, so that
is really fun. Anyway, this has been kind of fun. Yeah,
(38:04):
I don't hate it, we can do it again, but
till then, we'll see you on Friday for a Friday
episode and we hope that you have the best week.
Speaker 4 (38:11):
Bye guys.
Speaker 3 (38:18):
The advice shared on She's on the Money is general
in nature and does not consider your individual circumstances. She's
on the Money exists purely for educational purposes and should
not be relied upon to make an investment or financial decision.
If you do choose to buy a financial product, read
the PDS TMD and obtain appropriate financial advice.
Speaker 2 (38:37):
Tailored towards your needs.
Speaker 3 (38:39):
Victoria Divine and She's on the Money are authorized representatives
of Money Shoper Pty Ltd ABN three two one IS
six four nine two seven seven zero eight AFSL four
five one two eight nine
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