November 27, 2025 • 41 mins
Ever seen a crypto bro promising this coin is going to be the next big thing and thought… okay but what if? Well this week we got a DM from someone whose partner has fallen for the hype hard. So we're taking a closer look at crypto is, what it isn’t, why it feels so convincing online, and how to tell the difference between investing and straight-up gambling. We're also answering what to do when you’ve paid off a loan and suddenly have an extra $1,000 a week. Save it? Invest it? Split it? We talk through the simple framework that helps you figure out what actually makes sense for your timeline and goals. Plus we've got all your fave money wins, broke tips and the usual Friday chaos.
LAST DAYS: Want to learn how to invest (or just get your money sorted)? Our Bundle Sale is live! Up to 30% off our most-loved courses and tools, to help you feel clear, confident, and in control. Check it out here.
Need the team’s take on your money dilemma? Send us a voicemail here.
Or if it's more of a spicy money drama and you want the communities verdict? Slide into our DMs here.
Ready for more laughs, lessons, and unhinged money chats? Check out our oh-so-bingeable Friday Drinks playlist. Listen here.
Join our 400K+ She's on the Money community in our Facebook Group and on Instagram.
Acknowledgement of Country By Nartarsha Bamblett aka Queen Acknowledgements.
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 tailored towards your needs. Victoria Devine and She's On The Money are authorised representatives of Money Sherpa PTY LTD ABN - 321649 27708, AFSL - 451289.
See omnystudio.com/listener for privacy information.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
My name is Tatasha Bamblet. I'm a proud First Nations
woman and I'm here to acknowledge country t Glenn Young
Ganya Niana, kaka ya Ya bin Ahaka nian Ar gay
In Mbina yakarum jar doumayama Umagahawakaman damon imlan Wumba bang
Gadabomba in and now in wakah ghana on yakraum jar Watnadaa. Hello,
(00:22):
beautiful friends, we gather on the lands of the Aboriginal people.
We thank acknowledge and respect the Aberiginal people's land that
we're gathering on today. Take pleasure in all the land
and respect all that you see. She's on the Money
podcast acknowledges culture, country, community and connections, bringing you the tools,
knowledge and resources for you to thrive.
Speaker 2 (00:45):
She's on the Money. She's on the Money.
Speaker 3 (01:07):
Hello, and welcome to Black Friday.
Speaker 4 (01:10):
I mean, she's on the Money, the podcast that makes
personal finance fun, especially on Fridays. It is our favorite
day of the week because we get you and our
little team together and we get to celebrate our community.
Miss Jess Gildery she's here and she's sharing our favorite
money wins. Miss Beck say ed has a number of
different broke tips that she guarantees me are not stolen
from miss This week, we're going to be helping to
(01:33):
answer a money dilemma that's all about what to do
with the spare money after paying off a loan it's
not spare money, but okay, and something that you slid
into our dms about how do you handle a partner
who's currently knees deep in crypto talk.
Speaker 3 (01:49):
Oh, I think that's gonna be really funny.
Speaker 4 (01:54):
But before we get there, because we're quite self absorbed,
would you like to hear a five star review to
set the tone?
Speaker 5 (02:02):
Yes?
Speaker 4 (02:02):
Lead all right, so this one is from Morgan, and
Morgan says, I've been an avid listener of this podcast
for over five years.
Speaker 5 (02:10):
Wow.
Speaker 4 (02:11):
Does that not blow your mind that we've been doing
this small than five years? Yeah, I want to talk
about how much old around No g. I just want
to say a huge thank you to Victoria jesse Beck
and the whole She's on the.
Speaker 3 (02:21):
Money team for completely transforming my money mindset.
Speaker 4 (02:25):
I went from six thousand dollars in debt after a
Mexico troop with zero savings to having get this sit
down over fifty thousand dollars invested in ATFS under superbalance,
well above the average for my age thanks to your advice.
Speaker 5 (02:39):
Oh my god.
Speaker 4 (02:40):
I grew up with an abundance mindset and never felt
I went without.
Speaker 3 (02:44):
But I saw the other side through my dad.
Speaker 4 (02:46):
Now tens of thousands of dollars in credit card debt,
who was forced to sell his fancy luxury car and
move in with his ninety six year old mum with
nothing to his name.
Speaker 3 (02:56):
That really hit hard.
Speaker 4 (02:58):
Thanks to your podcast, I now truly value the importance
of looking after future me. You've changed my life and
I will be a loyal listener forever. It literally is
the highlight of my week. Love Morgan, Oh my god,
that's a.
Speaker 3 (03:11):
Really beautiful Sorry, fifty thousand dollars.
Speaker 6 (03:14):
I know, that's incredible.
Speaker 3 (03:17):
What do you mean.
Speaker 4 (03:18):
I'm so excited for you, but just so proud that
you're in our little community and you're like, I'm not leaving.
Speaker 7 (03:23):
Yeah, thanks for hanging around more money.
Speaker 3 (03:27):
To give me some advice, I think, Morgan, what a
little icon. No, and you're on the right track. You've
started dishing out your own advice. We don't even need it.
Speaker 6 (03:36):
Well, you know, that's just me give my two cents
where it's not needed.
Speaker 4 (03:39):
No, we love it, always, always, and we'll get your
broke tips in a hot second. But before we get
to your advice and your tips and your tricks and
your broke stuff, Beck, would you like to hear the
question of the week? Yeah, yes, please, I'm excited because
it is definitely now time for our favorite part of
the Friday Drinks episode, where you guys get to ask
us one question that you are dying to know. It
(04:00):
can be literally about anything, even this one that is
I guess perfect for Black Friday, which is today. From Emily,
who has asked what is on your fun wish list
this week?
Speaker 3 (04:11):
Team?
Speaker 5 (04:11):
I think everyone knows what's already. I haven't shut up
about it.
Speaker 6 (04:14):
What is it?
Speaker 5 (04:15):
I really want the ninja creamy she really wants.
Speaker 3 (04:18):
We didn't worry that you give me.
Speaker 5 (04:22):
I'm keeping an eye out.
Speaker 7 (04:23):
I tell you what that's been on my list, and
I'm the hunting for the best you.
Speaker 8 (04:28):
It was so fun to do, like you know those
old school pizza hut I have the soft self serve
bar well.
Speaker 7 (04:34):
Victoria has one and making all kinds of really fun
things with it.
Speaker 4 (04:39):
I would just like to point out, and I feel
like it's important that I pointed out to you that
that was gifted to me from Ninja. Yes, I didn't
purchase it, it was on my wish list and Jess's
wish list and then they were like, we've sent it
to you and I felt spoiled.
Speaker 3 (04:53):
But guys, we have yourt at home now.
Speaker 6 (04:55):
That's so cool.
Speaker 3 (04:55):
It's on my wish list too. If Ninja's listening, sorry,
we're not that deep.
Speaker 7 (05:03):
If I'm trying to God deal us any of the link,
thank you, Thank you so much.
Speaker 5 (05:07):
What's on your wish list?
Speaker 8 (05:09):
Look, I know it's so silly because it's a wish list,
it's essentials list, babs. But I'm not like I because
personally I'm not like I don't really care about things,
but I always want to buy my girlfriend things. And
there's so many things on her wish lists that are
also in mind color laid law pants. I don't know
if anyone is familiar. It's like a Melbourne artist. I
(05:31):
didn't know if she's doing Black Friday please she is, well,
I'm well sure she has to go check coffee machine.
She wants a coffee machine. God, she wants so many things.
So these I think things that make life more convenient
on the wish list, but for myself personally, honestly, probably
just like new Google Pixel ten Pro Excel, just quick
and easy, thousand dollars.
Speaker 5 (05:54):
And I feel like stuff like that doesn't really go
on Black Friday.
Speaker 8 (05:56):
It's sad anyway. If it does, it's like it's nineteen dollars. Yeah,
it's still there expensive, So nothing crazy for Mesh.
Speaker 3 (06:06):
I've actually just opened my list.
Speaker 4 (06:08):
I have a note section in my app and I
have to put all of the stuff in there, so
it's not just one thing. I'll just read you out
my list of things that I've decided I want. These
are just wants. I will probably forget about these things.
But I did laugh because they're also just I don't know,
not over consumption y, but like I'm clearly very easily
(06:28):
influenced by the Internet, and that's what my list is
telling me. So the first thing on my wish list
are the Baraler wrist weights.
Speaker 5 (06:35):
Oh yes, made you beautiful there.
Speaker 4 (06:39):
So I'm going to put them on my Christmas list
because I just think that I would use them, and like,
I don't know, ankle weights or like wrist waits.
Speaker 3 (06:46):
I just think that's really cool.
Speaker 4 (06:48):
And I'm being influenced by these girls doing the arm
workouts on TikTok for their weddings. I'm not getting married,
but like their arms look good. The next thing I
have is I really want another rainbow bracelet. So I'm
not wearing it today, but I usually wear a rainbow bracelet,
but it is made of ceramic and I have been
chipping it and so I don't know what that bracelet
(07:11):
is going to look like. But I told my husband, like, oh,
I think I want a rainbow bracelet for Christmas that
I could wear every day without it getting damaged.
Speaker 3 (07:19):
I really want. This is so lame. I really want
the pottery barn candy cane shaped cushion for Christmas.
Speaker 8 (07:25):
Cool.
Speaker 5 (07:26):
I've been keeping my eye at it for you too.
Speaker 3 (07:29):
Yep, that's really lame.
Speaker 4 (07:31):
And the other thing that is on my list, which
I think is a bougie thing, is the Mason Balzac balsamic,
like the Bolsamic oil or the Bolsamic bottle. Yeah, because
I have the olive oil bottle from them, and then
for my birthday, I was gifted the chili oil bottle
and they've just come out with a balsamic bottle?
Speaker 5 (07:51):
What is this like dark.
Speaker 3 (07:53):
Dark brown or like a dark red kind of olive
on the outside, similar to my green olive bottle.
Speaker 4 (07:58):
And it's slightly small. And I just thought the three
of them sitted nests from my kitchen. But that is
currently what is on my little wish list. Whether I
end up getting them or not even bothering, that's what
I'll be referring to. Gorgeous come like Christmas time, I think, yes,
we'd like a bottle for my balsamic. Can I also
have a wrist weight?
Speaker 5 (08:19):
Some question? I liked that one.
Speaker 6 (08:20):
Yeah, I like that one.
Speaker 3 (08:21):
Yeah, it's like a wish list, but I think that
it's smart to keep it like a written list, a
physical yes.
Speaker 4 (08:26):
And if anyone ever asks me, like my husband, what
do you want for Christmas? I can be like, look,
here's a list of things that I've been looking at
that I would feel spoilt if I got, but are
also non essentials, because I feel like the older you get,
the longer you've been married, the more I'm like, you
really should get another robo back for the house. It's
like that our joint Christmas present. And so these are
things that are exclusively for.
Speaker 5 (08:47):
Me, as they should be exactly Soluly.
Speaker 4 (08:49):
Now, would you guys like to hear Jesse cheese, money,
wins and confessions from the community, please.
Speaker 7 (08:55):
I hope everyone in the car is yelling yes right
now because they're Firstly, this week got money in from Claire.
She said money and hyperactive adhd win. She went down
a Bunnings DIY tutorial rabbit hole and saved herself multiple
thousands of dollars based on earlier quotes she'd received by
building herself an internal non weight bearing wall, which basically
(09:18):
gave her an extra bedroom in her core. She also
made an installed new kitchen.
Speaker 5 (09:23):
Bench shops as well.
Speaker 7 (09:24):
She the only downside is she's now become obsessed with
power tools and has a list of ones that she
would like to add to her collection, and has managed
to almost sand off her fingernails a couple of times.
Gorgeous Little DII moment incredible. Next, I've got eight money
went from Christy, who said her grocery order got canceled
last minute due to her blackout, so they gave her
a forty dollars bonus.
Speaker 5 (09:44):
For the inconvenience.
Speaker 7 (09:45):
She wasn't in a rush, so she just reordered it
for the next day, used her monthly ten percent off,
and then got.
Speaker 5 (09:50):
Forty bucks off as well.
Speaker 6 (09:51):
Beautiful.
Speaker 7 (09:52):
Next from Hayley, she said she welcomed her second baby,
another boy, with a birthday five days after his brothers.
Speaker 5 (09:59):
Oh cute, congratulations.
Speaker 4 (10:01):
So when it's not on the same day, like I'd
be so anxious that the kids would have to share.
Speaker 7 (10:05):
Literally, But the money win is she's got no need
to buy a whole new set of clothes because it's
the same gender in time.
Speaker 3 (10:09):
If oh, that is the dream, how do I plan
that for me?
Speaker 5 (10:13):
My congratulations Haley.
Speaker 7 (10:14):
Next, I've got money win from Dana, who said she
went to check how much wrapping paper, gift bags, name tags,
et cetera. She had because she's starting to prep her
Christmas budget. Well done, queen. She went into the cupboards
and found four rolls of half used wrapping paper, one
of them which was brand you not even used, five
packs of name tags, five gift bags, a bunch of
ribbon bows, and tissue paper. She said her Christmas wrapping
(10:36):
is all sorted for this year and probably next year
as well, and I just want to remind everyone I
feel like these are the things that we shov in
our cubin and forget about. You probably have wrapping paper
at home, so go looking for it now so you
know if she'll last men at a Christmas scram.
Speaker 4 (10:48):
Or you could do the Victoria Devine special and just
buy the big roll of brown craft paper from office works.
You get like thirty meters I think for maybe twelve dollars. Brilliant,
and that is my wrapping paper.
Speaker 9 (11:01):
Yeah.
Speaker 4 (11:01):
Sometimes I'll draw cute designs on the outside and then
wrap it. Sometimes I'll use different bows. But like you
get a present from me, probably in brown wrapping paper, and.
Speaker 5 (11:09):
It looks so beautiful.
Speaker 8 (11:10):
You could use any thing as wrapping paper too, you
literally can I need to be prepared formally?
Speaker 4 (11:15):
Yeah, true, I just feel I need to be prepared.
But that's okay, Yes.
Speaker 5 (11:19):
I'm the same.
Speaker 7 (11:19):
And then last of this week, I've got a money
in form Niche She said they're buying cotton, wool, linen,
hemp and natural materials only now, so they're getting rid
of all of the polyester and stuff in their closet.
And they found a bunch of one hundred percent cotton
tops at Best and Less for six dollars.
Speaker 5 (11:34):
And a couple of them were even down to two bucks.
Speaker 4 (11:36):
I will say, I've been looking for one hundred percent
like organic active wear.
Speaker 5 (11:42):
I've never thought about that.
Speaker 3 (11:43):
I can't find it. Yeah, like one hundred percent cotton
or like whatever.
Speaker 5 (11:47):
I wonder if that's for the moisture wicked.
Speaker 4 (11:50):
It totally yes, And the more I got into it,
I was like, oh, I want their gings that you
know are better for me.
Speaker 3 (11:55):
Can't find it.
Speaker 4 (11:56):
So if anybody knows, please slide into my DMS, because yeah,
but you're gonna work.
Speaker 3 (12:00):
Out in linen. You know what I mean.
Speaker 4 (12:02):
It's it's not just clothing, it's like active where specifically
because a lot of them are like polyester or like
lycra or whatever. Anyway, I don't know much about much,
but I do know that I wasn't successful in my quest.
Speaker 6 (12:14):
She knows much about that.
Speaker 3 (12:15):
Miss Beck say ed, what have you got when it
comes to broke tips?
Speaker 8 (12:18):
Okay, So this first one comes from Krly, who says,
every time I'm using one of those sheet base masks,
I always keep the leftover seerum and use it two
or three more times.
Speaker 6 (12:28):
But even dunk the mask back in, it's just been
on your face.
Speaker 4 (12:31):
So we foster Blake said that because she has like
with go to make sure that you don't waste the
serum in the bottom of the thing. So whenever I
finish a sheet mask, now I like dip my fingers
in and like make sure I rubb all the serum in.
Speaker 6 (12:42):
Totally.
Speaker 8 (12:43):
You could just get like even I know what those
masks are made out of, you could get something similar.
Speaker 7 (12:47):
You can buy silicon ones from some slices, easy to clean,
and then you put it in whatever leftover serum you have.
Speaker 3 (12:54):
It's slightly lazy, so I will be just using my
fingers until the serum is not in the Thank you.
Speaker 6 (12:59):
Also you also do that.
Speaker 3 (13:00):
Absolutely, you guys are too crafty.
Speaker 8 (13:03):
This next one comes from Madison, who says keep cashing
your wallet to avoid getting stung by cards surcharges. I
saw a surcharge that was nearly five percent recently. I
think that's a great idea because you don't have to
use it all the time. But if you do find
a place that is like really crazy with this surcharges
and you're like, well, I've got the cash for that,
and then yeah, you don't have to really, that's actually
(13:24):
so clever, So thank you medicine.
Speaker 4 (13:26):
But see, I love that, but I don't think that
would work for me as a broke tip because in
my head, if I have cash in my wallet, that
is free money.
Speaker 6 (13:33):
Yeah true.
Speaker 3 (13:35):
I literally go, that's not real. That's cash. Yeah, like
that's the dumbest thing in the entire world.
Speaker 4 (13:40):
But like literally five twenty dollars and then I spend
that twenty dollars on lunch. In my head, lunch was free.
Do not take financial advice from me always, but that
is so much. It is a lot of that's wild.
That's taking the mickey.
Speaker 8 (13:52):
Yeah, you could be spending that twenty dollars on lunch
and then also not even realizing you're avoiding seur charge
as well. True, So free money and free money. Now
this one comes from myself, but also my mum. He
always has some kooky things. I do think this one works, though.
So she's Becky Beg you gotta put coppery Becky. That's
(14:14):
so hard, that's so funny. I know, I guess we haven't.
I want to know what you guys get called by
your family.
Speaker 3 (14:21):
Tory.
Speaker 6 (14:22):
Oh Tory.
Speaker 3 (14:23):
My whole family called me Tory.
Speaker 8 (14:24):
I would never ever have thought it's so strange, Like
it's strange.
Speaker 4 (14:29):
I think Jess was like on another planet or something
when she met my family and they were.
Speaker 3 (14:33):
Like, oh, yeah, how's Tory treating you? She's like.
Speaker 6 (14:37):
Boyfriend.
Speaker 4 (14:38):
Yeah, because everybody calls me in like my work life
and anyone that met me post school it's the wow.
And anyone that knows me prior to the end of
year twelve or knew me, well it's Tory.
Speaker 6 (14:53):
That's crazy.
Speaker 4 (14:54):
Yeah, but it doesn't like it's crazy because in this setting,
Tory feels so strange.
Speaker 5 (14:59):
It does.
Speaker 3 (15:00):
My dad called me anything other than Tory, I would
be like, what are we doing?
Speaker 8 (15:06):
Yeah, oh my god, that is crazy, it's wild.
Speaker 5 (15:09):
Oh my god, what about you?
Speaker 7 (15:10):
I just go by dress everywhere, just easy.
Speaker 6 (15:14):
Easy, easy.
Speaker 8 (15:15):
Well I can't even remember how he's not talking about that.
Speaker 3 (15:18):
But now, what's your mum's tip.
Speaker 8 (15:19):
Yes, my mom's tip is that she says that if
your plants are struggling, or if you're just wanting to
I guess like boost or like, you know, help them thrive,
you just chuck a bit of copper in the soil.
Apparently copper.
Speaker 5 (15:32):
Yeah, and you can get this.
Speaker 8 (15:33):
Like two literally, it's two dollars from buddings. You just
get like whatever kind of copper. Sometimes you get those
little like taps that have four taps, but the copper. Yeah,
chuck them in there, whatever thing you find them. Copper
doesn't matter what it is for. Put it in the pot,
put it in the soil, and your plants will thrive.
Speaker 5 (15:48):
You go. I my very game one stairs. That's my
favorite favor cop.
Speaker 3 (15:58):
Do you remember the It was on the in joke,
it was not in the podcast.
Speaker 5 (16:02):
You were here.
Speaker 4 (16:03):
It doesn't mean I was mentally presents. I'm physically present,
mentally not here.
Speaker 7 (16:08):
I was telling beck about my variegated Monsterra and she said,
you're very gay, Moe Sterra.
Speaker 3 (16:15):
I reckon, my monster is gay.
Speaker 6 (16:17):
She's thriving, very gay.
Speaker 5 (16:19):
I think every time I think so sweet, I'm going
to put some copper in the pot.
Speaker 3 (16:25):
Report Matt. Yeah, with your very gay one Stera.
Speaker 4 (16:28):
Tell her.
Speaker 6 (16:28):
I said, hi, And that's all this week.
Speaker 3 (16:33):
I love that. That is a good place to leave it.
Speaker 4 (16:35):
Let's go to a really quick break because on the Flips,
I'm going to be answering a money dilemma, which is
all about what to do with the spare money that
you have after paying off your loan and something you
slid into our dms about cannot wait for this one?
How do you handle a partner who's currently deep in
cryptotok guys, don't go anywhere.
Speaker 7 (16:55):
Welcome back, everybody. Let's take a listen to this week's
money dilemma.
Speaker 10 (17:01):
Hi, there, have you got a money dilemma you just
can't solve That. She's on the Money team is here
to help. Every week, we tackle your dilemmas, both big
and small, to answer your most burning money, career and
life questions. To get involved, simply head to our website
and leave us a short voice recording and you might
just find yourself on the show. Now, let's take a
listen to this week's money dilemma.
Speaker 9 (17:24):
Hi, She's on the money. I'm about to finish off
paying my twenty thousand dollars car loan, and that means
I'm going to have anywhere from one thousand to fifteen
hundred dollars per week to either save or invest. Now
I'm wondering what I should be doing, whether I should
be talking investments or whether I should be keeping it
out on the side to start saving for a home.
(17:46):
I'm not really sure because both of them are kind
of a priority to me.
Speaker 5 (17:49):
Thank you.
Speaker 3 (17:50):
What the heck?
Speaker 5 (17:51):
A week?
Speaker 3 (17:52):
A week?
Speaker 5 (17:53):
That's crazy?
Speaker 3 (17:54):
A week, yeah, sh'd say week clearest day. Yeah, but
even if that was a month, that would be a lot.
Speaker 6 (18:02):
That's wild.
Speaker 4 (18:03):
Was a year, girlfriend, you are going to achieve a
lot for thousand dollars a week?
Speaker 3 (18:08):
Is fifty two thousand dollars a year?
Speaker 6 (18:10):
Like, yeah, what the heck?
Speaker 3 (18:11):
In very proud of you.
Speaker 4 (18:13):
Yeah, that's so you need to work out your priorities
because coming to me and saying do I save or invest?
Speaker 3 (18:19):
I wish I could answer that damn question, But.
Speaker 4 (18:22):
That actually comes down to your values and your priorities
and when you want to achieve these things, because I
would actually get in a lot of legal trouble if
I told you the answer that I believe.
Speaker 3 (18:31):
And it's not because.
Speaker 4 (18:33):
Well obviously, it's because it would be illegal for me
to give financial advice without taking into consideration your whole situation.
But the problem I have here is you said should
I invest or should I be saving for a house?
Both of these things are a priority. I need you
to zoom out. I need you to sit down and
work out. Okay, you've set a home as a priority.
We know how to save for a home. What is
(18:54):
your timeline? When did you want to purchase? Do you
know how much you want to purchase for? Do you
know how much of a house to posit you actually
want to have. If you're saying, oh, v I'd love
to purchase by the end of the year, that is
a different story. Then yeah, a house is a really
big priority for me five years from now, because at
that point, maybe you're not as aggressively saving for that goal.
Speaker 3 (19:14):
You are splitting the money across two different priorities. Or
you might say, oh, buying a home.
Speaker 4 (19:20):
I'm you didn't say how old you were, Maybe you
were nineteen, I don't know, And you go, well, I
want to own a home by the time I'm thirty,
And again that's a completely different strategy. Again, so this
is why I can't answer directly the question of should
I save or invest? But we can do the maths
and go, okay, let's look at our values and our priorities.
But then we can also look at interest rates and
(19:41):
rate of return on an investment portfolio, Like, you know,
are you going to get the same returns in property
as you might in the share market? Literally you are not.
But returns aren't the only reason we make decisions, are they?
So Beck, what would you do if you came into
a one thousand dollars a week and you not allowed
to blow it, you have to save or invest it.
Speaker 3 (20:03):
How would you personally split that?
Speaker 6 (20:05):
That's crazy?
Speaker 8 (20:06):
I think that because for myself, personally, I would be like,
I'm going to prioritize house because they just feel like
they just they're just going up and up and up,
and there might be a time where.
Speaker 6 (20:14):
They go down and that would be really annoying.
Speaker 8 (20:16):
But I just think I'm like, I want to get
that done sooner rather than later, and also just like
have a little place to hang my hat and like
settle in all that kind of stuff. So I would
prioritize that, but I would still be doing like because
you're saying one thousand to like one thousand, five hundred
per week.
Speaker 3 (20:31):
That's insane to me.
Speaker 4 (20:31):
I just went with the lowest amount because I was like, yeah,
either way, you are going to be good.
Speaker 8 (20:37):
Absolutely, So I would be doing one thousand dollars in
a high savings high interest savings account every week and
then the rest. It's like it could be if it's
five hundred, as you're saying, or if it's like less
than five hundred, then I would just put that into
some like.
Speaker 6 (20:50):
You know, investor somewhere.
Speaker 8 (20:51):
But I think I would be putting majority of that
in a high interest savings.
Speaker 6 (20:55):
How the end trying to get a house a SAP person,
I love that.
Speaker 3 (21:00):
Well.
Speaker 4 (21:00):
I don't know if we want Jess's advice because sorry,
you're not a landowner.
Speaker 5 (21:03):
Now.
Speaker 4 (21:04):
It's not to brag, not a brag, but she's actually
already achieved that girl.
Speaker 7 (21:09):
No, I'm exactly the same as That's how I did it.
I was going to say, at one thousand dollars.
Speaker 5 (21:13):
A week, I think you absolutely can probably afford to do.
Speaker 7 (21:16):
Both pending timeline and all of those things that Victoria
acknowledged before.
Speaker 3 (21:20):
I'm just too conservative, guys.
Speaker 5 (21:22):
Yeah, no, I totally agree.
Speaker 7 (21:23):
But for myself, I did I invested.
Speaker 3 (21:26):
You was still investing, but it wasn't your main priority.
Speaker 4 (21:28):
No, you're just like ticking along making sure that that
journey didn't drop off the radar.
Speaker 5 (21:33):
Correct.
Speaker 7 (21:33):
I would say I was probably putting seventy percent of
my spare money into the house deposit, and maybe fifteen
percent if that to my investment. So it was a
lot lower than what I'd done previously, but that's because
my big priority was the house, and that's absolutely made
sense for.
Speaker 4 (21:50):
Me, and it paid off because you wanted a house
basically asap, and if it was all in your share portfolio,
even though there's better return in your share portfolio, you
sat down and worked out that if you had to
pull that money out at short notice, you might be
at a loss because you can never work out what
the market's going to do in the short.
Speaker 3 (22:08):
Term, only in the long term.
Speaker 4 (22:09):
But I have worked with clients historically who've been like, yeah,
property is massive priority for me, but in fifteen years
V like I'm a baby right now, or you know,
I want to go live in London and I want
to do this, but like when I've achieved all of
these other goals or finished UNI, or you know, worked
out what that life looks like, I want to come
home to Australia or I want to then be able
(22:30):
to go okay, cool and make this decision at that age.
Then they invested the money because they had enough time
on their side to make the most of the investment world.
Because I wouldn't ever, ever, ever invest for less than
ten years. But if they've got more than that, okay,
well maybe you do put your house to posit into
that and then in ten years you've got even more
(22:51):
money to play with. But like, what's the worst that
could happen in that situation?
Speaker 3 (22:57):
So I don't know.
Speaker 4 (22:57):
I think it's genuinely from my perspective that what are
your values? That I'm so sorry that I always go
back to that, But that's why I'm so passionate about
going do you know your money story?
Speaker 3 (23:08):
Do you know what you actually value?
Speaker 4 (23:11):
Are you actually being driven by what society is expecting
of you or what you expect of you?
Speaker 3 (23:16):
Do you know the difference?
Speaker 4 (23:17):
And it's not because I'm just a little brat, It's
because I genuinely go, if you know that you can
be successful and you can actually start structuring, you don't
need a financial advisor to tell you.
Speaker 3 (23:28):
That you will know you can be that. Yeh, helf,
So would you like to talk about crypto?
Speaker 6 (23:33):
I would love to?
Speaker 9 (23:34):
Yes?
Speaker 3 (23:34):
Are you ready? Are you ready? So this is what's
slid into my DMS this week? Are you ready? Hey,
she's on the money.
Speaker 4 (23:40):
My partner is deep in crypto talk and it's all
he talks about lately he used to be really careful
with money, but now he's chasing every coin.
Speaker 3 (23:48):
Some influencer is just hyping up.
Speaker 4 (23:51):
We've already lost a few thousand dollars and it's starting
to feel a lot less.
Speaker 3 (23:55):
Like investing and a lot more like gambling.
Speaker 4 (23:59):
What's hard is trying to say for IVF and he
keeps saying that this is how we're going to fast
track it. I really get wanting a win, but it
feels like the exact opposite of what we need right now.
How do you talk to someone when they're in quotation marks?
Investment strategy is putting your shared goals at risk, and
you can go first on this.
Speaker 8 (24:20):
I think it's really hard to say because when you
are in a place because I personally think I've been
like in the crypto space before, and I think that
if you really do believe, we like there's some sort
of urgency behind you, Like you really do think that
it's going to take off, We really do think it's
going to be the next like because we are I
think I think we all secretly, even if you don't,
we kind of all secretly wish that we got on
(24:42):
the bitcoin train when it started.
Speaker 3 (24:44):
And that totally. I think we all want to be rich, right.
Speaker 6 (24:47):
I think that.
Speaker 8 (24:48):
There's like an element of like crypto. It's like that
could happen again any moments.
Speaker 6 (24:51):
It's like I think when the.
Speaker 3 (24:53):
You could also win Powerable at any moment.
Speaker 5 (24:56):
Could a girl can hope?
Speaker 8 (24:58):
I could just be projecting here because I think that
that's that's possible.
Speaker 3 (25:02):
Yeah, you could also win Powerball.
Speaker 6 (25:03):
You also could win Powerball.
Speaker 8 (25:05):
It's really hard to change the trajectory of someone's investment
journey when they really truly believe something. I don't really
have any solid advice other than communicating and just making
sure communication.
Speaker 4 (25:20):
I know, I know that you can't bring that up
this early and early that's true last thing we talk about,
don't you know that's true?
Speaker 8 (25:28):
But also like just I mean and like you not
to give any advice at all, but I think.
Speaker 4 (25:33):
I give all your advice actually, because cryptocurrency is not
a licensed or registered financial product in Australia, which is
why people can talk anything they want about it.
Speaker 3 (25:43):
Just make you the same about the shed market.
Speaker 6 (25:45):
This makes sense.
Speaker 4 (25:45):
Yeah, and anybody turns out anybody can talk about it, well,
could you try and.
Speaker 8 (25:49):
Like get them to split. I don't know, like do
half in going to like the Australian ax that what
it's called. And I don't know enough about crypto to poopoo,
but I know that you're very against.
Speaker 4 (26:01):
It, so I, oh, I'm not very against it. Yes
and no, yes and no. Jess what's your opinion, because
like I'll give mine after this. You guys know, I'm
relatively conservative.
Speaker 7 (26:12):
So for me, crypto I don't love because there is
not a lot of historical data. I find that it's
a very volatile asset. I also just think that it's
so hard to It's like an NFT, right, Like it's
very hard to quantify the tangible value of that type
of and we saw how that went exactly right as
compared to a share, where when I'm buying a share,
(26:32):
there is a company that I can do research on,
like I'm you know, I know what products they produce, it,
what services they provide, Whereas more often than not, crypto
is like this theoretical asset. And that's where I really
struggle with it, because I go, well, yeah, you can
say this cryptos worth like a million dollars, but tomorrow
someone could just turn around just say no, actually, just kidding.
It's not so I'm not anti crypto, but it's not
(26:55):
something that I personally choose to invest in. You're totally right,
Like you can look at bitcoin and all of those
other things and go ooh, like looking at how that went,
Like do I wish I bought a bitcoin whene first
came out? Obviously, but I don't think for me personally
it's an asset that I would feel comfortable investing in it.
And to each their own, like we know that Brooke
holds some of it from her episode.
Speaker 4 (27:14):
I also own part of that ETF, But to be
very clear, that ETF is an ETF that invests in
not cryptocurrency, but rather the infrastructure that supports cryptocurrency. So
if a coin fails, that infrastructure is still there and
another cryptocurrency would start using it.
Speaker 7 (27:35):
Well, there you are, and see like that sounds like
something that might be more aligned to me, but to
everybody's different.
Speaker 4 (27:39):
I just thought it was fun. It's not a very
big part of my portfolio, but like, at the same time,
I find this space fun and want to engage in
like what we call satellite investments, so that I can
still be engaged, but also.
Speaker 3 (27:52):
I'm not risking my wealth. Yes, yeah, I'm.
Speaker 7 (27:55):
Not here for but exactly as you said, and we
have seen it happen, Like there have been cases raised
against influencers who were promoting cryptos. There was pump and
dump schemes, there was all types of things. Because it's
an unregulated space, people can do whatever they want. And
I mean we see it in financial services more broadly,
on a lower scale because thankfully there is regulation, but
(28:16):
obviously not everybody adheres to it.
Speaker 5 (28:18):
But you can't.
Speaker 7 (28:19):
I know that this is going to sound deeply hypocritical
because I'm saying it on a finance podcast, but you
can't just take the advice from any person who's got
a microphone or a.
Speaker 3 (28:28):
Camera, you know, And so you actually can't.
Speaker 7 (28:31):
But it's true, like any person with a little bit
of charisma can get on TikTok and convince you, especially
someone like me who is.
Speaker 4 (28:38):
Variously Yes, we should have started a crypto coin, we
should have started a multiple marketing business. Yeah, bring back
the cooin, Like we should be using our power.
Speaker 5 (28:49):
For bad yeah, And that's you know what I mean.
Speaker 7 (28:51):
Like I'm someone who's very trusting in what I see,
Like I can be very easily convinced of things. So
any person with a bit of charisma can get on
TikTok and tell you that this is the next best
stock option totally. And if you're not someone who's doing
your own research, if you're someone who gets caught up
in that, like I can be, it is really easy.
And I can see how your partner could be going,
oh my god, like we've got this goal that we
want to achieve. This is a sure thing basically, which
(29:14):
is where exactly as Victoria said, you kind of are
almost straying into gambling territory. It is kind of scary,
but you could win powable, you know what. I hope
that I do, and I hope that everyone listening does too.
That's not an investing strategy.
Speaker 5 (29:28):
Not at all.
Speaker 7 (29:29):
Game we say, generally speaking, you shouldn't be investing for
a short term goal, regardless of what you're investing in,
and I would argue that.
Speaker 5 (29:35):
That applies to crypto as well. I agree, take it away,
VD not.
Speaker 3 (29:38):
Even take it away, I feel kind of mean. But
also let's zoom out.
Speaker 4 (29:44):
So my favorite book when it comes to investing, it's
not investing by She's on, No, that's that's the best
book but not. My favorite is from nineteen twenty six
and it's by a guy called George S. Klassen, George
Samuel Class and it's called The Richest Man in Babylon.
You guys have heard me talk about this book before,
(30:06):
and I disclaimer this book as being the most.
Speaker 3 (30:09):
Dry read of your entire life.
Speaker 4 (30:12):
But it is a fantastic book when it comes down
to why investing started, how it works, what that looks like.
We're not talking about the Australian share market. We're not
talking about cryptocurrency in this book. We are talking about
buying and trading sheep. We are talking about what old
marketplaces looked like and how out of those marketplaces people
(30:34):
built businesses. But then out of those marketplaces people were
able to trade and invest in different other businesses and
create wealth for themselves.
Speaker 10 (30:41):
Right.
Speaker 4 (30:42):
And that's why that's one of my favorite books, because
it teaches you the foundations of that. Now, you don't
have to read that if you don't want to read
the driest book in the entire world.
Speaker 3 (30:50):
You can.
Speaker 4 (30:50):
If you're on the same team as me and you're like,
I just want the information, I would.
Speaker 3 (30:55):
Say it's not a big read.
Speaker 4 (30:56):
It's quite a skinny book, so it's not too overwhelming,
but all of those principles of what I bring to
sheese on the money anyway. So I think that you
would read this and be like, oh, that makes sense
and it's just validating. But one of the lessons in
that book is you would never take advice from a
brick layer on buying diamonds.
Speaker 5 (31:15):
So true.
Speaker 4 (31:16):
And so if you were going out into the world
and you wanted to propose to Jess and you wanted
the biggest and the best diamond, ever, where are you going?
Who were you going to ask for advice? The same
should be true with money and finance. You are coming
to me, and you're coming to this podcast hopefully because
(31:37):
we really ridiculously funny and we are so hot that
leavings why right? But also in the background, sorry, I
was a financial advisor who ran a very successful practice.
I still hold a financial services license, I own a
credit license, I run a mortgage broking business. I am
in the nitty gritty of this every single day. And
(31:58):
do you know what I want to get filthy Ridge too?
Do you think that if that option was on the table,
and it was a genuine option and one of the
best investment options out there, I wouldn't have already taken
advantage of it.
Speaker 6 (32:11):
That's a great point.
Speaker 4 (32:12):
Have you ever met a financial advisor who is so
excited about crypto because it is the best outcome. Have
you ever met an accountant, a mortgage broker, a somebody
who works in the financial services industry and knows it
like the back of their hand choosing to put their
wealth in crypto and not too young people's yum, no,
no no, But like we are going back to the basics.
Speaker 3 (32:35):
We're not saying it is a bad asset class.
Speaker 4 (32:38):
I have already told you that I own an ETF
that invests in the infrastructure of crypto, because I do
think that it is part of the way our future
is going to be constructed. At this point, though you
cannot bet on which coins are going to take off,
every man and his dog has a coin wire influencers
influencing you so well that you're willing to risk your
(33:00):
future wealth and you're not listening to experts because you'll.
Speaker 7 (33:04):
Never catch us saying this is the best like we
do the oppositely, we will say this performed really well,
Go away, do your and research like we will never ever.
Speaker 4 (33:11):
Ever, I always say, don't just listen to my podcast,
listen to every single other podcast on the market. Take
my advice with a grain of salt, because my advice
is always going to be shadowed by my opinion and
my conservativeness and wanting to put you in the best possible.
Speaker 3 (33:25):
Position, all of that.
Speaker 4 (33:26):
But like you might be introduced to another concept in
a way that resonates with you better. And you know what,
I don't care where you get that information. All I
care is that you personally benefited from financial literacy because
that's my mission. So I think going back to is
crypto a bad decision? No, not necessarily, but yes it
is if you're getting your advice from TikTok.
Speaker 3 (33:48):
Yes it is if you're.
Speaker 4 (33:48):
Getting it from people who are not educated and have
brought into essentially what I believe is a pyramid scheme
of cryptocurrency because it feels like a cult, and that
influence is making money on the referrals from you signing up.
That influencer is making money because every single time another
person invests into that coin, it increases in value and
(34:10):
they therefore have a more valuable portfolio, Like they are
benefiting from this. But they don't have the backing, and
that makes me so grumpy because they don't know what
they're talking about. But they will come guns braized and
be like, but see, Victoria, the proof is in the pudding. Look,
I've got all these people invested and our portfolios are increasing.
(34:31):
For how long, baby cakes? How long is this going
to work? How long is this viable? Is this even
a good crypto asset? And then zooming even further out.
If I sat down and I was having an initial
meeting with a financial advice client way back in the day,
one of the first things I would draw on my
whiteboard is a little or.
Speaker 3 (34:49):
A big L shaped graph.
Speaker 4 (34:51):
The first is risk on the yaxis, and then on
the xaxis I would have put reward right. So reward
is the bottom line and risk is the top line.
And at the bottom here you've got cash. Then it
starts to increase in risk because the more risk you take,
the more reward you could potentially get. And it goes cash,
fixed interest bonds, goes into Australian property, international property, Australian shares,
(35:15):
international shares diversified, you know, more exotic assets, and then
all the way off the chart is crypto it is
very high risk, it is very high reward. But the idea,
and I'm so sorry for this rant, but the idea
that someone in my community would for some reason be
the most comfortable with the highest risk and the highest
(35:37):
reward asset class and they have never invested before blows
my mind because we're putting the most at risk, and
if that doesn't work out, you are going to run
for the hills from investing in general.
Speaker 3 (35:49):
You are not going to be able to set future
you up because you'll be like, I lost.
Speaker 4 (35:52):
All my money when I started this investing journey and
just write it off completely, when in reality, we'd peg
you back of questions when I do or used to
do the fact find was have you invested before? If so,
what in And every fact find that you will do
or find for free online will always ask you that
(36:12):
question because that plays into how much risk you're willing
to take. So it's very uncommon when you would do
a risk reward fact find sessh with a client that
they would come out as super high risk, super high reward,
super aggressive portfolio. You might find that they fall into
the growth bucket and we're going to start there and
then maybe over the time that we work with them,
(36:35):
they become super aggressive. But like you never want to
bite off more than you can chew, or take on
more risk than you can afford to take on. Right now,
you're telling me you have priorities like IVF and you
are taking on too much risk and it is not
working up for you. Yeah, do I hate crypto? No,
but I hate it for those reasons because it doesn't
(36:56):
put my community in the best possible position. You can
tell from my tone of void mad about this.
Speaker 5 (37:00):
We're on over a horse. What did everybody else say?
Speaker 3 (37:03):
Oh?
Speaker 4 (37:03):
They had better, more regulated opinions than I. So first
question we asked was what would you do if you
were our community member. Forty four percent said only let
him invest his spending money, twenty eight percent said only
invest what you agree on, fourteen percent said deal break
at TBH, and thirteen percent said separate finances completely. We
(37:25):
then said how do you feel about crypto? Fifty seven
percent said it is too risky for me, twenty four
percent said interested but don't know enough, eleven percent said
what even is that? An eight percent said I am
already invested, which is absolutely fine. And then I said,
as always, what's your two cents. First person said, treat
(37:45):
him like any other gambler, separate your finances and get
him help. I mean, sorry, if you're taking advice from
TikTok influences, that is gambling, not investing. Someone else said,
maybe I picked this one because it supports my narrative.
The restauran't equivalent of an MLM girlie. You have to
(38:05):
look at what their advice is doing to benefit them.
Speaker 6 (38:08):
Absolutely.
Speaker 1 (38:09):
Yeah.
Speaker 4 (38:09):
The next person said, my husband uses his fun money
to invest in cryptos, so our goals aren't impacted. He
still has fun and it works really well for us.
Next person said, it took me twelve months research before
I made my first crypto investment. Don't go off influences.
Speaker 3 (38:24):
Because there will be people there.
Speaker 7 (38:26):
I feel like we have to add a tiny caveat,
especially because we're also in TikTok that.
Speaker 5 (38:29):
Like, there will be some people out there who don't all.
Speaker 3 (38:31):
My financial services license.
Speaker 7 (38:33):
Well, that's it, I say the majority. I think it's
much riskier, but always you're in research.
Speaker 4 (38:38):
Yeah, and like I think, critically looking at any piece
of information on the Internet, I don't care if you're
watching an influencer with a really sexy mascara. Why is
she trying to sell that to you? Was it gifted
to her? Was it something that she genuinely just loves
and is sharing. Was it something that she's getting commissioned
off product sales? Like I just think being critical.
Speaker 7 (39:00):
Because none of those things are bad, but they can
factor into how people represent exactly.
Speaker 4 (39:04):
And if you don't have all of the information on
the table to make the decision that's right for you,
then great. I love a good mascara though, and I
do look them up on TikTok, but I'm always like, oh,
why would you be saying that? And I look like
the paid partnership and the check things and like like, oh,
I actually I'd prefer to find an organic opinion.
Speaker 3 (39:20):
Okay.
Speaker 4 (39:21):
Next person said, my mum was scammed out of her
super with crypto ATMs at the supermarket.
Speaker 3 (39:27):
They also got her on social media too.
Speaker 7 (39:30):
A side note, I think I sent you a photo
the first time I ever saw an I did right
an age at my local shopping center for crypto, which
I boggled my mind.
Speaker 4 (39:38):
Do you know what my favorite thing is? You guys
love a little bit of tea. So everyone is always
in my personal dams on instagram sending photos like that
or just tea about investment influencers and stuff. It is
so fun but like also terrifying. Someone else said, and
I thought this one was the tea. I worked at
a cryptocurrency for a long time, and so much is
(39:59):
smoker mirrors and regulated financial marketing straight from the horse's mouth.
Speaker 3 (40:02):
Wow.
Speaker 4 (40:04):
Another person good advice said, only invest what you can
afford to lose.
Speaker 3 (40:08):
Best advice I've ever received.
Speaker 4 (40:10):
Someone else said, girl, go into his settings and reset
his TikTok algorithm while he's in the show.
Speaker 5 (40:14):
Literally, and that's where video. Yeah, I believe my girlfriend.
Speaker 4 (40:20):
Engagement IVF positive stories.
Speaker 5 (40:28):
I love it.
Speaker 3 (40:28):
All right, Well, I am going to call it. That's
where I'm going to leave it.
Speaker 4 (40:31):
I feel like I've been more than opinionated on this episode,
so I hope the rant was appreciated.
Speaker 3 (40:36):
But also I think I need to calm down on
the quiet corner for really.
Speaker 4 (40:40):
I'm just gonna have a little bit of a break,
all right, guys, We'll see you right nearly on Monday
morning for a money diary.
Speaker 3 (40:46):
But till then, have the best weekend.
Speaker 5 (40:48):
Bye bye, guys.
Speaker 10 (40:49):
Hye did buy shared on cheese 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.
Speaker 3 (41:09):
If you do choose to buy a financial.
Speaker 10 (41:11):
Product, read the PDS TMD and obtain appropriate financial.
Speaker 3 (41:14):
Advice tailored towards your needs.
Speaker 10 (41:16):
Victoria Divine and She's on the Money are authorized representatives
of money. Sheper pty Ltd ABN three two one six
four nine two seven seven zero eight AFSL four five
one two eight nine
My name is Tatasha Bamblet. I'm a proud First Nations
woman and I'm here to acknowledge country t Glenn Young
Ganya Niana, kaka ya Ya bin Ahaka nian Ar gay
In Mbina yakarum jar doumayama Umagahawakaman damon imlan Wumba bang
Gadabomba in and now in wakah ghana on yakraum jar Watnadaa. Hello,
(00:22):
beautiful friends, we gather on the lands of the Aboriginal people.
We thank acknowledge and respect the Aberiginal people's land that
we're gathering on today. Take pleasure in all the land
and respect all that you see. She's on the Money
podcast acknowledges culture, country, community and connections, bringing you the tools,
knowledge and resources for you to thrive.
Speaker 2 (00:45):
She's on the Money. She's on the Money.
Speaker 3 (01:07):
Hello, and welcome to Black Friday.
Speaker 4 (01:10):
I mean, she's on the Money, the podcast that makes
personal finance fun, especially on Fridays. It is our favorite
day of the week because we get you and our
little team together and we get to celebrate our community.
Miss Jess Gildery she's here and she's sharing our favorite
money wins. Miss Beck say ed has a number of
different broke tips that she guarantees me are not stolen
from miss This week, we're going to be helping to
(01:33):
answer a money dilemma that's all about what to do
with the spare money after paying off a loan it's
not spare money, but okay, and something that you slid
into our dms about how do you handle a partner
who's currently knees deep in crypto talk.
Speaker 3 (01:49):
Oh, I think that's gonna be really funny.
Speaker 4 (01:54):
But before we get there, because we're quite self absorbed,
would you like to hear a five star review to
set the tone?
Speaker 5 (02:02):
Yes?
Speaker 4 (02:02):
Lead all right, so this one is from Morgan, and
Morgan says, I've been an avid listener of this podcast
for over five years.
Speaker 5 (02:10):
Wow.
Speaker 4 (02:11):
Does that not blow your mind that we've been doing
this small than five years? Yeah, I want to talk
about how much old around No g. I just want
to say a huge thank you to Victoria jesse Beck
and the whole She's on the.
Speaker 3 (02:21):
Money team for completely transforming my money mindset.
Speaker 4 (02:25):
I went from six thousand dollars in debt after a
Mexico troop with zero savings to having get this sit
down over fifty thousand dollars invested in ATFS under superbalance,
well above the average for my age thanks to your advice.
Speaker 5 (02:39):
Oh my god.
Speaker 4 (02:40):
I grew up with an abundance mindset and never felt
I went without.
Speaker 3 (02:44):
But I saw the other side through my dad.
Speaker 4 (02:46):
Now tens of thousands of dollars in credit card debt,
who was forced to sell his fancy luxury car and
move in with his ninety six year old mum with
nothing to his name.
Speaker 3 (02:56):
That really hit hard.
Speaker 4 (02:58):
Thanks to your podcast, I now truly value the importance
of looking after future me. You've changed my life and
I will be a loyal listener forever. It literally is
the highlight of my week. Love Morgan, Oh my god,
that's a.
Speaker 3 (03:11):
Really beautiful Sorry, fifty thousand dollars.
Speaker 6 (03:14):
I know, that's incredible.
Speaker 3 (03:17):
What do you mean.
Speaker 4 (03:18):
I'm so excited for you, but just so proud that
you're in our little community and you're like, I'm not leaving.
Speaker 7 (03:23):
Yeah, thanks for hanging around more money.
Speaker 3 (03:27):
To give me some advice, I think, Morgan, what a
little icon. No, and you're on the right track. You've
started dishing out your own advice. We don't even need it.
Speaker 6 (03:36):
Well, you know, that's just me give my two cents
where it's not needed.
Speaker 4 (03:39):
No, we love it, always, always, and we'll get your
broke tips in a hot second. But before we get
to your advice and your tips and your tricks and
your broke stuff, Beck, would you like to hear the
question of the week? Yeah, yes, please, I'm excited because
it is definitely now time for our favorite part of
the Friday Drinks episode, where you guys get to ask
us one question that you are dying to know. It
(04:00):
can be literally about anything, even this one that is
I guess perfect for Black Friday, which is today. From Emily,
who has asked what is on your fun wish list
this week?
Speaker 3 (04:11):
Team?
Speaker 5 (04:11):
I think everyone knows what's already. I haven't shut up
about it.
Speaker 6 (04:14):
What is it?
Speaker 5 (04:15):
I really want the ninja creamy she really wants.
Speaker 3 (04:18):
We didn't worry that you give me.
Speaker 5 (04:22):
I'm keeping an eye out.
Speaker 7 (04:23):
I tell you what that's been on my list, and
I'm the hunting for the best you.
Speaker 8 (04:28):
It was so fun to do, like you know those
old school pizza hut I have the soft self serve
bar well.
Speaker 7 (04:34):
Victoria has one and making all kinds of really fun
things with it.
Speaker 4 (04:39):
I would just like to point out, and I feel
like it's important that I pointed out to you that
that was gifted to me from Ninja. Yes, I didn't
purchase it, it was on my wish list and Jess's
wish list and then they were like, we've sent it
to you and I felt spoiled.
Speaker 3 (04:53):
But guys, we have yourt at home now.
Speaker 6 (04:55):
That's so cool.
Speaker 3 (04:55):
It's on my wish list too. If Ninja's listening, sorry,
we're not that deep.
Speaker 7 (05:03):
If I'm trying to God deal us any of the link,
thank you, Thank you so much.
Speaker 5 (05:07):
What's on your wish list?
Speaker 8 (05:09):
Look, I know it's so silly because it's a wish list,
it's essentials list, babs. But I'm not like I because
personally I'm not like I don't really care about things,
but I always want to buy my girlfriend things. And
there's so many things on her wish lists that are
also in mind color laid law pants. I don't know
if anyone is familiar. It's like a Melbourne artist. I
(05:31):
didn't know if she's doing Black Friday please she is, well,
I'm well sure she has to go check coffee machine.
She wants a coffee machine. God, she wants so many things.
So these I think things that make life more convenient
on the wish list, but for myself personally, honestly, probably
just like new Google Pixel ten Pro Excel, just quick
and easy, thousand dollars.
Speaker 5 (05:54):
And I feel like stuff like that doesn't really go
on Black Friday.
Speaker 8 (05:56):
It's sad anyway. If it does, it's like it's nineteen dollars. Yeah,
it's still there expensive, So nothing crazy for Mesh.
Speaker 3 (06:06):
I've actually just opened my list.
Speaker 4 (06:08):
I have a note section in my app and I
have to put all of the stuff in there, so
it's not just one thing. I'll just read you out
my list of things that I've decided I want. These
are just wants. I will probably forget about these things.
But I did laugh because they're also just I don't know,
not over consumption y, but like I'm clearly very easily
(06:28):
influenced by the Internet, and that's what my list is
telling me. So the first thing on my wish list
are the Baraler wrist weights.
Speaker 5 (06:35):
Oh yes, made you beautiful there.
Speaker 4 (06:39):
So I'm going to put them on my Christmas list
because I just think that I would use them, and like,
I don't know, ankle weights or like wrist waits.
Speaker 3 (06:46):
I just think that's really cool.
Speaker 4 (06:48):
And I'm being influenced by these girls doing the arm
workouts on TikTok for their weddings. I'm not getting married,
but like their arms look good. The next thing I
have is I really want another rainbow bracelet. So I'm
not wearing it today, but I usually wear a rainbow bracelet,
but it is made of ceramic and I have been
chipping it and so I don't know what that bracelet
(07:11):
is going to look like. But I told my husband, like, oh,
I think I want a rainbow bracelet for Christmas that
I could wear every day without it getting damaged.
Speaker 3 (07:19):
I really want. This is so lame. I really want
the pottery barn candy cane shaped cushion for Christmas.
Speaker 8 (07:25):
Cool.
Speaker 5 (07:26):
I've been keeping my eye at it for you too.
Speaker 3 (07:29):
Yep, that's really lame.
Speaker 4 (07:31):
And the other thing that is on my list, which
I think is a bougie thing, is the Mason Balzac balsamic,
like the Bolsamic oil or the Bolsamic bottle. Yeah, because
I have the olive oil bottle from them, and then
for my birthday, I was gifted the chili oil bottle
and they've just come out with a balsamic bottle?
Speaker 5 (07:51):
What is this like dark.
Speaker 3 (07:53):
Dark brown or like a dark red kind of olive
on the outside, similar to my green olive bottle.
Speaker 4 (07:58):
And it's slightly small. And I just thought the three
of them sitted nests from my kitchen. But that is
currently what is on my little wish list. Whether I
end up getting them or not even bothering, that's what
I'll be referring to. Gorgeous come like Christmas time, I think, yes,
we'd like a bottle for my balsamic. Can I also
have a wrist weight?
Speaker 5 (08:19):
Some question? I liked that one.
Speaker 6 (08:20):
Yeah, I like that one.
Speaker 3 (08:21):
Yeah, it's like a wish list, but I think that
it's smart to keep it like a written list, a
physical yes.
Speaker 4 (08:26):
And if anyone ever asks me, like my husband, what
do you want for Christmas? I can be like, look,
here's a list of things that I've been looking at
that I would feel spoilt if I got, but are
also non essentials, because I feel like the older you get,
the longer you've been married, the more I'm like, you
really should get another robo back for the house. It's
like that our joint Christmas present. And so these are
things that are exclusively for.
Speaker 5 (08:47):
Me, as they should be exactly Soluly.
Speaker 4 (08:49):
Now, would you guys like to hear Jesse cheese, money,
wins and confessions from the community, please.
Speaker 7 (08:55):
I hope everyone in the car is yelling yes right
now because they're Firstly, this week got money in from Claire.
She said money and hyperactive adhd win. She went down
a Bunnings DIY tutorial rabbit hole and saved herself multiple
thousands of dollars based on earlier quotes she'd received by
building herself an internal non weight bearing wall, which basically
(09:18):
gave her an extra bedroom in her core. She also
made an installed new kitchen.
Speaker 5 (09:23):
Bench shops as well.
Speaker 7 (09:24):
She the only downside is she's now become obsessed with
power tools and has a list of ones that she
would like to add to her collection, and has managed
to almost sand off her fingernails a couple of times.
Gorgeous Little DII moment incredible. Next, I've got eight money
went from Christy, who said her grocery order got canceled
last minute due to her blackout, so they gave her
a forty dollars bonus.
Speaker 5 (09:44):
For the inconvenience.
Speaker 7 (09:45):
She wasn't in a rush, so she just reordered it
for the next day, used her monthly ten percent off,
and then got.
Speaker 5 (09:50):
Forty bucks off as well.
Speaker 6 (09:51):
Beautiful.
Speaker 7 (09:52):
Next from Hayley, she said she welcomed her second baby,
another boy, with a birthday five days after his brothers.
Speaker 5 (09:59):
Oh cute, congratulations.
Speaker 4 (10:01):
So when it's not on the same day, like I'd
be so anxious that the kids would have to share.
Speaker 7 (10:05):
Literally, But the money win is she's got no need
to buy a whole new set of clothes because it's
the same gender in time.
Speaker 3 (10:09):
If oh, that is the dream, how do I plan
that for me?
Speaker 5 (10:13):
My congratulations Haley.
Speaker 7 (10:14):
Next, I've got money win from Dana, who said she
went to check how much wrapping paper, gift bags, name tags,
et cetera. She had because she's starting to prep her
Christmas budget. Well done, queen. She went into the cupboards
and found four rolls of half used wrapping paper, one
of them which was brand you not even used, five
packs of name tags, five gift bags, a bunch of
ribbon bows, and tissue paper. She said her Christmas wrapping
(10:36):
is all sorted for this year and probably next year
as well, and I just want to remind everyone I
feel like these are the things that we shov in
our cubin and forget about. You probably have wrapping paper
at home, so go looking for it now so you
know if she'll last men at a Christmas scram.
Speaker 4 (10:48):
Or you could do the Victoria Devine special and just
buy the big roll of brown craft paper from office works.
You get like thirty meters I think for maybe twelve dollars. Brilliant,
and that is my wrapping paper.
Speaker 9 (11:01):
Yeah.
Speaker 4 (11:01):
Sometimes I'll draw cute designs on the outside and then
wrap it. Sometimes I'll use different bows. But like you
get a present from me, probably in brown wrapping paper, and.
Speaker 5 (11:09):
It looks so beautiful.
Speaker 8 (11:10):
You could use any thing as wrapping paper too, you
literally can I need to be prepared formally?
Speaker 4 (11:15):
Yeah, true, I just feel I need to be prepared.
But that's okay, Yes.
Speaker 5 (11:19):
I'm the same.
Speaker 7 (11:19):
And then last of this week, I've got a money
in form Niche She said they're buying cotton, wool, linen,
hemp and natural materials only now, so they're getting rid
of all of the polyester and stuff in their closet.
And they found a bunch of one hundred percent cotton
tops at Best and Less for six dollars.
Speaker 5 (11:34):
And a couple of them were even down to two bucks.
Speaker 4 (11:36):
I will say, I've been looking for one hundred percent
like organic active wear.
Speaker 5 (11:42):
I've never thought about that.
Speaker 3 (11:43):
I can't find it. Yeah, like one hundred percent cotton
or like whatever.
Speaker 5 (11:47):
I wonder if that's for the moisture wicked.
Speaker 4 (11:50):
It totally yes, And the more I got into it,
I was like, oh, I want their gings that you
know are better for me.
Speaker 3 (11:55):
Can't find it.
Speaker 4 (11:56):
So if anybody knows, please slide into my DMS, because yeah,
but you're gonna work.
Speaker 3 (12:00):
Out in linen. You know what I mean.
Speaker 4 (12:02):
It's it's not just clothing, it's like active where specifically
because a lot of them are like polyester or like
lycra or whatever. Anyway, I don't know much about much,
but I do know that I wasn't successful in my quest.
Speaker 6 (12:14):
She knows much about that.
Speaker 3 (12:15):
Miss Beck say ed, what have you got when it
comes to broke tips?
Speaker 8 (12:18):
Okay, So this first one comes from Krly, who says,
every time I'm using one of those sheet base masks,
I always keep the leftover seerum and use it two
or three more times.
Speaker 6 (12:28):
But even dunk the mask back in, it's just been
on your face.
Speaker 4 (12:31):
So we foster Blake said that because she has like
with go to make sure that you don't waste the
serum in the bottom of the thing. So whenever I
finish a sheet mask, now I like dip my fingers
in and like make sure I rubb all the serum in.
Speaker 6 (12:42):
Totally.
Speaker 8 (12:43):
You could just get like even I know what those
masks are made out of, you could get something similar.
Speaker 7 (12:47):
You can buy silicon ones from some slices, easy to clean,
and then you put it in whatever leftover serum you have.
Speaker 3 (12:54):
It's slightly lazy, so I will be just using my
fingers until the serum is not in the Thank you.
Speaker 6 (12:59):
Also you also do that.
Speaker 3 (13:00):
Absolutely, you guys are too crafty.
Speaker 8 (13:03):
This next one comes from Madison, who says keep cashing
your wallet to avoid getting stung by cards surcharges. I
saw a surcharge that was nearly five percent recently. I
think that's a great idea because you don't have to
use it all the time. But if you do find
a place that is like really crazy with this surcharges
and you're like, well, I've got the cash for that,
and then yeah, you don't have to really, that's actually
(13:24):
so clever, So thank you medicine.
Speaker 4 (13:26):
But see, I love that, but I don't think that
would work for me as a broke tip because in
my head, if I have cash in my wallet, that
is free money.
Speaker 6 (13:33):
Yeah true.
Speaker 3 (13:35):
I literally go, that's not real. That's cash. Yeah, like
that's the dumbest thing in the entire world.
Speaker 4 (13:40):
But like literally five twenty dollars and then I spend
that twenty dollars on lunch. In my head, lunch was free.
Do not take financial advice from me always, but that
is so much. It is a lot of that's wild.
That's taking the mickey.
Speaker 8 (13:52):
Yeah, you could be spending that twenty dollars on lunch
and then also not even realizing you're avoiding seur charge
as well. True, So free money and free money. Now
this one comes from myself, but also my mum. He
always has some kooky things. I do think this one works, though.
So she's Becky Beg you gotta put coppery Becky. That's
(14:14):
so hard, that's so funny. I know, I guess we haven't.
I want to know what you guys get called by
your family.
Speaker 3 (14:21):
Tory.
Speaker 6 (14:22):
Oh Tory.
Speaker 3 (14:23):
My whole family called me Tory.
Speaker 8 (14:24):
I would never ever have thought it's so strange, Like
it's strange.
Speaker 4 (14:29):
I think Jess was like on another planet or something
when she met my family and they were.
Speaker 3 (14:33):
Like, oh, yeah, how's Tory treating you? She's like.
Speaker 6 (14:37):
Boyfriend.
Speaker 4 (14:38):
Yeah, because everybody calls me in like my work life
and anyone that met me post school it's the wow.
And anyone that knows me prior to the end of
year twelve or knew me, well it's Tory.
Speaker 6 (14:53):
That's crazy.
Speaker 4 (14:54):
Yeah, but it doesn't like it's crazy because in this setting,
Tory feels so strange.
Speaker 5 (14:59):
It does.
Speaker 3 (15:00):
My dad called me anything other than Tory, I would
be like, what are we doing?
Speaker 8 (15:06):
Yeah, oh my god, that is crazy, it's wild.
Speaker 5 (15:09):
Oh my god, what about you?
Speaker 7 (15:10):
I just go by dress everywhere, just easy.
Speaker 6 (15:14):
Easy, easy.
Speaker 8 (15:15):
Well I can't even remember how he's not talking about that.
Speaker 3 (15:18):
But now, what's your mum's tip.
Speaker 8 (15:19):
Yes, my mom's tip is that she says that if
your plants are struggling, or if you're just wanting to
I guess like boost or like, you know, help them thrive,
you just chuck a bit of copper in the soil.
Apparently copper.
Speaker 5 (15:32):
Yeah, and you can get this.
Speaker 8 (15:33):
Like two literally, it's two dollars from buddings. You just
get like whatever kind of copper. Sometimes you get those
little like taps that have four taps, but the copper. Yeah,
chuck them in there, whatever thing you find them. Copper
doesn't matter what it is for. Put it in the pot,
put it in the soil, and your plants will thrive.
Speaker 5 (15:48):
You go. I my very game one stairs. That's my
favorite favor cop.
Speaker 3 (15:58):
Do you remember the It was on the in joke,
it was not in the podcast.
Speaker 5 (16:02):
You were here.
Speaker 4 (16:03):
It doesn't mean I was mentally presents. I'm physically present,
mentally not here.
Speaker 7 (16:08):
I was telling beck about my variegated Monsterra and she said,
you're very gay, Moe Sterra.
Speaker 3 (16:15):
I reckon, my monster is gay.
Speaker 6 (16:17):
She's thriving, very gay.
Speaker 5 (16:19):
I think every time I think so sweet, I'm going
to put some copper in the pot.
Speaker 3 (16:25):
Report Matt. Yeah, with your very gay one Stera.
Speaker 4 (16:28):
Tell her.
Speaker 6 (16:28):
I said, hi, And that's all this week.
Speaker 3 (16:33):
I love that. That is a good place to leave it.
Speaker 4 (16:35):
Let's go to a really quick break because on the Flips,
I'm going to be answering a money dilemma, which is
all about what to do with the spare money that
you have after paying off your loan and something you
slid into our dms about cannot wait for this one?
How do you handle a partner who's currently deep in
cryptotok guys, don't go anywhere.
Speaker 7 (16:55):
Welcome back, everybody. Let's take a listen to this week's
money dilemma.
Speaker 10 (17:01):
Hi, there, have you got a money dilemma you just
can't solve That. She's on the Money team is here
to help. Every week, we tackle your dilemmas, both big
and small, to answer your most burning money, career and
life questions. To get involved, simply head to our website
and leave us a short voice recording and you might
just find yourself on the show. Now, let's take a
listen to this week's money dilemma.
Speaker 9 (17:24):
Hi, She's on the money. I'm about to finish off
paying my twenty thousand dollars car loan, and that means
I'm going to have anywhere from one thousand to fifteen
hundred dollars per week to either save or invest. Now
I'm wondering what I should be doing, whether I should
be talking investments or whether I should be keeping it
out on the side to start saving for a home.
(17:46):
I'm not really sure because both of them are kind
of a priority to me.
Speaker 5 (17:49):
Thank you.
Speaker 3 (17:50):
What the heck?
Speaker 5 (17:51):
A week?
Speaker 3 (17:52):
A week?
Speaker 5 (17:53):
That's crazy?
Speaker 3 (17:54):
A week, yeah, sh'd say week clearest day. Yeah, but
even if that was a month, that would be a lot.
Speaker 6 (18:02):
That's wild.
Speaker 4 (18:03):
Was a year, girlfriend, you are going to achieve a
lot for thousand dollars a week?
Speaker 3 (18:08):
Is fifty two thousand dollars a year?
Speaker 6 (18:10):
Like, yeah, what the heck?
Speaker 3 (18:11):
In very proud of you.
Speaker 4 (18:13):
Yeah, that's so you need to work out your priorities
because coming to me and saying do I save or invest?
Speaker 3 (18:19):
I wish I could answer that damn question, But.
Speaker 4 (18:22):
That actually comes down to your values and your priorities
and when you want to achieve these things, because I
would actually get in a lot of legal trouble if
I told you the answer that I believe.
Speaker 3 (18:31):
And it's not because.
Speaker 4 (18:33):
Well obviously, it's because it would be illegal for me
to give financial advice without taking into consideration your whole situation.
But the problem I have here is you said should
I invest or should I be saving for a house?
Both of these things are a priority. I need you
to zoom out. I need you to sit down and
work out. Okay, you've set a home as a priority.
We know how to save for a home. What is
(18:54):
your timeline? When did you want to purchase? Do you
know how much you want to purchase for? Do you
know how much of a house to posit you actually
want to have. If you're saying, oh, v I'd love
to purchase by the end of the year, that is
a different story. Then yeah, a house is a really
big priority for me five years from now, because at
that point, maybe you're not as aggressively saving for that goal.
Speaker 3 (19:14):
You are splitting the money across two different priorities. Or
you might say, oh, buying a home.
Speaker 4 (19:20):
I'm you didn't say how old you were, Maybe you
were nineteen, I don't know, And you go, well, I
want to own a home by the time I'm thirty,
And again that's a completely different strategy. Again, so this
is why I can't answer directly the question of should
I save or invest? But we can do the maths
and go, okay, let's look at our values and our priorities.
But then we can also look at interest rates and
(19:41):
rate of return on an investment portfolio, Like, you know,
are you going to get the same returns in property
as you might in the share market? Literally you are not.
But returns aren't the only reason we make decisions, are they?
So Beck, what would you do if you came into
a one thousand dollars a week and you not allowed
to blow it, you have to save or invest it.
Speaker 3 (20:03):
How would you personally split that?
Speaker 6 (20:05):
That's crazy?
Speaker 8 (20:06):
I think that because for myself, personally, I would be like,
I'm going to prioritize house because they just feel like
they just they're just going up and up and up,
and there might be a time where.
Speaker 6 (20:14):
They go down and that would be really annoying.
Speaker 8 (20:16):
But I just think I'm like, I want to get
that done sooner rather than later, and also just like
have a little place to hang my hat and like
settle in all that kind of stuff. So I would
prioritize that, but I would still be doing like because
you're saying one thousand to like one thousand, five hundred
per week.
Speaker 3 (20:31):
That's insane to me.
Speaker 4 (20:31):
I just went with the lowest amount because I was like, yeah,
either way, you are going to be good.
Speaker 8 (20:37):
Absolutely, So I would be doing one thousand dollars in
a high savings high interest savings account every week and
then the rest. It's like it could be if it's
five hundred, as you're saying, or if it's like less
than five hundred, then I would just put that into
some like.
Speaker 6 (20:50):
You know, investor somewhere.
Speaker 8 (20:51):
But I think I would be putting majority of that
in a high interest savings.
Speaker 6 (20:55):
How the end trying to get a house a SAP person,
I love that.
Speaker 3 (21:00):
Well.
Speaker 4 (21:00):
I don't know if we want Jess's advice because sorry,
you're not a landowner.
Speaker 5 (21:03):
Now.
Speaker 4 (21:04):
It's not to brag, not a brag, but she's actually
already achieved that girl.
Speaker 7 (21:09):
No, I'm exactly the same as That's how I did it.
I was going to say, at one thousand dollars.
Speaker 5 (21:13):
A week, I think you absolutely can probably afford to do.
Speaker 7 (21:16):
Both pending timeline and all of those things that Victoria
acknowledged before.
Speaker 3 (21:20):
I'm just too conservative, guys.
Speaker 5 (21:22):
Yeah, no, I totally agree.
Speaker 7 (21:23):
But for myself, I did I invested.
Speaker 3 (21:26):
You was still investing, but it wasn't your main priority.
Speaker 4 (21:28):
No, you're just like ticking along making sure that that
journey didn't drop off the radar.
Speaker 5 (21:33):
Correct.
Speaker 7 (21:33):
I would say I was probably putting seventy percent of
my spare money into the house deposit, and maybe fifteen
percent if that to my investment. So it was a
lot lower than what I'd done previously, but that's because
my big priority was the house, and that's absolutely made
sense for.
Speaker 4 (21:50):
Me, and it paid off because you wanted a house
basically asap, and if it was all in your share portfolio,
even though there's better return in your share portfolio, you
sat down and worked out that if you had to
pull that money out at short notice, you might be
at a loss because you can never work out what
the market's going to do in the short.
Speaker 3 (22:08):
Term, only in the long term.
Speaker 4 (22:09):
But I have worked with clients historically who've been like, yeah,
property is massive priority for me, but in fifteen years
V like I'm a baby right now, or you know,
I want to go live in London and I want
to do this, but like when I've achieved all of
these other goals or finished UNI, or you know, worked
out what that life looks like, I want to come
home to Australia or I want to then be able
(22:30):
to go okay, cool and make this decision at that age.
Then they invested the money because they had enough time
on their side to make the most of the investment world.
Because I wouldn't ever, ever, ever invest for less than
ten years. But if they've got more than that, okay,
well maybe you do put your house to posit into
that and then in ten years you've got even more
(22:51):
money to play with. But like, what's the worst that
could happen in that situation?
Speaker 3 (22:57):
So I don't know.
Speaker 4 (22:57):
I think it's genuinely from my perspective that what are
your values? That I'm so sorry that I always go
back to that, But that's why I'm so passionate about
going do you know your money story?
Speaker 3 (23:08):
Do you know what you actually value?
Speaker 4 (23:11):
Are you actually being driven by what society is expecting
of you or what you expect of you?
Speaker 3 (23:16):
Do you know the difference?
Speaker 4 (23:17):
And it's not because I'm just a little brat, It's
because I genuinely go, if you know that you can
be successful and you can actually start structuring, you don't
need a financial advisor to tell you.
Speaker 3 (23:28):
That you will know you can be that. Yeh, helf,
So would you like to talk about crypto?
Speaker 6 (23:33):
I would love to?
Speaker 9 (23:34):
Yes?
Speaker 3 (23:34):
Are you ready? Are you ready? So this is what's
slid into my DMS this week? Are you ready? Hey,
she's on the money.
Speaker 4 (23:40):
My partner is deep in crypto talk and it's all
he talks about lately he used to be really careful
with money, but now he's chasing every coin.
Speaker 3 (23:48):
Some influencer is just hyping up.
Speaker 4 (23:51):
We've already lost a few thousand dollars and it's starting
to feel a lot less.
Speaker 3 (23:55):
Like investing and a lot more like gambling.
Speaker 4 (23:59):
What's hard is trying to say for IVF and he
keeps saying that this is how we're going to fast
track it. I really get wanting a win, but it
feels like the exact opposite of what we need right now.
How do you talk to someone when they're in quotation marks?
Investment strategy is putting your shared goals at risk, and
you can go first on this.
Speaker 8 (24:20):
I think it's really hard to say because when you
are in a place because I personally think I've been
like in the crypto space before, and I think that
if you really do believe, we like there's some sort
of urgency behind you, Like you really do think that
it's going to take off, We really do think it's
going to be the next like because we are I
think I think we all secretly, even if you don't,
we kind of all secretly wish that we got on
(24:42):
the bitcoin train when it started.
Speaker 3 (24:44):
And that totally. I think we all want to be rich, right.
Speaker 6 (24:47):
I think that.
Speaker 8 (24:48):
There's like an element of like crypto. It's like that
could happen again any moments.
Speaker 6 (24:51):
It's like I think when the.
Speaker 3 (24:53):
You could also win Powerable at any moment.
Speaker 5 (24:56):
Could a girl can hope?
Speaker 8 (24:58):
I could just be projecting here because I think that
that's that's possible.
Speaker 3 (25:02):
Yeah, you could also win Powerball.
Speaker 6 (25:03):
You also could win Powerball.
Speaker 8 (25:05):
It's really hard to change the trajectory of someone's investment
journey when they really truly believe something. I don't really
have any solid advice other than communicating and just making
sure communication.
Speaker 4 (25:20):
I know, I know that you can't bring that up
this early and early that's true last thing we talk about,
don't you know that's true?
Speaker 8 (25:28):
But also like just I mean and like you not
to give any advice at all, but I think.
Speaker 4 (25:33):
I give all your advice actually, because cryptocurrency is not
a licensed or registered financial product in Australia, which is
why people can talk anything they want about it.
Speaker 3 (25:43):
Just make you the same about the shed market.
Speaker 6 (25:45):
This makes sense.
Speaker 4 (25:45):
Yeah, and anybody turns out anybody can talk about it, well,
could you try and.
Speaker 8 (25:49):
Like get them to split. I don't know, like do
half in going to like the Australian ax that what
it's called. And I don't know enough about crypto to poopoo,
but I know that you're very against.
Speaker 4 (26:01):
It, so I, oh, I'm not very against it. Yes
and no, yes and no. Jess what's your opinion, because
like I'll give mine after this. You guys know, I'm
relatively conservative.
Speaker 7 (26:12):
So for me, crypto I don't love because there is
not a lot of historical data. I find that it's
a very volatile asset. I also just think that it's
so hard to It's like an NFT, right, Like it's
very hard to quantify the tangible value of that type
of and we saw how that went exactly right as
compared to a share, where when I'm buying a share,
(26:32):
there is a company that I can do research on,
like I'm you know, I know what products they produce, it,
what services they provide, Whereas more often than not, crypto
is like this theoretical asset. And that's where I really
struggle with it, because I go, well, yeah, you can
say this cryptos worth like a million dollars, but tomorrow
someone could just turn around just say no, actually, just kidding.
It's not so I'm not anti crypto, but it's not
(26:55):
something that I personally choose to invest in. You're totally right,
Like you can look at bitcoin and all of those
other things and go ooh, like looking at how that went,
Like do I wish I bought a bitcoin whene first
came out? Obviously, but I don't think for me personally
it's an asset that I would feel comfortable investing in it.
And to each their own, like we know that Brooke
holds some of it from her episode.
Speaker 4 (27:14):
I also own part of that ETF, But to be
very clear, that ETF is an ETF that invests in
not cryptocurrency, but rather the infrastructure that supports cryptocurrency. So
if a coin fails, that infrastructure is still there and
another cryptocurrency would start using it.
Speaker 7 (27:35):
Well, there you are, and see like that sounds like
something that might be more aligned to me, but to
everybody's different.
Speaker 4 (27:39):
I just thought it was fun. It's not a very
big part of my portfolio, but like, at the same time,
I find this space fun and want to engage in
like what we call satellite investments, so that I can
still be engaged, but also.
Speaker 3 (27:52):
I'm not risking my wealth. Yes, yeah, I'm.
Speaker 7 (27:55):
Not here for but exactly as you said, and we
have seen it happen, Like there have been cases raised
against influencers who were promoting cryptos. There was pump and
dump schemes, there was all types of things. Because it's
an unregulated space, people can do whatever they want. And
I mean we see it in financial services more broadly,
on a lower scale because thankfully there is regulation, but
(28:16):
obviously not everybody adheres to it.
Speaker 5 (28:18):
But you can't.
Speaker 7 (28:19):
I know that this is going to sound deeply hypocritical
because I'm saying it on a finance podcast, but you
can't just take the advice from any person who's got
a microphone or a.
Speaker 3 (28:28):
Camera, you know, And so you actually can't.
Speaker 7 (28:31):
But it's true, like any person with a little bit
of charisma can get on TikTok and convince you, especially
someone like me who is.
Speaker 4 (28:38):
Variously Yes, we should have started a crypto coin, we
should have started a multiple marketing business. Yeah, bring back
the cooin, Like we should be using our power.
Speaker 5 (28:49):
For bad yeah, And that's you know what I mean.
Speaker 7 (28:51):
Like I'm someone who's very trusting in what I see,
Like I can be very easily convinced of things. So
any person with a bit of charisma can get on
TikTok and tell you that this is the next best
stock option totally. And if you're not someone who's doing
your own research, if you're someone who gets caught up
in that, like I can be, it is really easy.
And I can see how your partner could be going,
oh my god, like we've got this goal that we
want to achieve. This is a sure thing basically, which
(29:14):
is where exactly as Victoria said, you kind of are
almost straying into gambling territory. It is kind of scary,
but you could win powable, you know what. I hope
that I do, and I hope that everyone listening does too.
That's not an investing strategy.
Speaker 5 (29:28):
Not at all.
Speaker 7 (29:29):
Game we say, generally speaking, you shouldn't be investing for
a short term goal, regardless of what you're investing in,
and I would argue that.
Speaker 5 (29:35):
That applies to crypto as well. I agree, take it away,
VD not.
Speaker 3 (29:38):
Even take it away, I feel kind of mean. But
also let's zoom out.
Speaker 4 (29:44):
So my favorite book when it comes to investing, it's
not investing by She's on, No, that's that's the best
book but not. My favorite is from nineteen twenty six
and it's by a guy called George S. Klassen, George
Samuel Class and it's called The Richest Man in Babylon.
You guys have heard me talk about this book before,
(30:06):
and I disclaimer this book as being the most.
Speaker 3 (30:09):
Dry read of your entire life.
Speaker 4 (30:12):
But it is a fantastic book when it comes down
to why investing started, how it works, what that looks like.
We're not talking about the Australian share market. We're not
talking about cryptocurrency in this book. We are talking about
buying and trading sheep. We are talking about what old
marketplaces looked like and how out of those marketplaces people
(30:34):
built businesses. But then out of those marketplaces people were
able to trade and invest in different other businesses and
create wealth for themselves.
Speaker 10 (30:41):
Right.
Speaker 4 (30:42):
And that's why that's one of my favorite books, because
it teaches you the foundations of that. Now, you don't
have to read that if you don't want to read
the driest book in the entire world.
Speaker 3 (30:50):
You can.
Speaker 4 (30:50):
If you're on the same team as me and you're like,
I just want the information, I would.
Speaker 3 (30:55):
Say it's not a big read.
Speaker 4 (30:56):
It's quite a skinny book, so it's not too overwhelming,
but all of those principles of what I bring to
sheese on the money anyway. So I think that you
would read this and be like, oh, that makes sense
and it's just validating. But one of the lessons in
that book is you would never take advice from a
brick layer on buying diamonds.
Speaker 5 (31:15):
So true.
Speaker 4 (31:16):
And so if you were going out into the world
and you wanted to propose to Jess and you wanted
the biggest and the best diamond, ever, where are you going?
Who were you going to ask for advice? The same
should be true with money and finance. You are coming
to me, and you're coming to this podcast hopefully because
(31:37):
we really ridiculously funny and we are so hot that
leavings why right? But also in the background, sorry, I
was a financial advisor who ran a very successful practice.
I still hold a financial services license, I own a
credit license, I run a mortgage broking business. I am
in the nitty gritty of this every single day. And
(31:58):
do you know what I want to get filthy Ridge too?
Do you think that if that option was on the table,
and it was a genuine option and one of the
best investment options out there, I wouldn't have already taken
advantage of it.
Speaker 6 (32:11):
That's a great point.
Speaker 4 (32:12):
Have you ever met a financial advisor who is so
excited about crypto because it is the best outcome. Have
you ever met an accountant, a mortgage broker, a somebody
who works in the financial services industry and knows it
like the back of their hand choosing to put their
wealth in crypto and not too young people's yum, no,
no no, But like we are going back to the basics.
Speaker 3 (32:35):
We're not saying it is a bad asset class.
Speaker 4 (32:38):
I have already told you that I own an ETF
that invests in the infrastructure of crypto, because I do
think that it is part of the way our future
is going to be constructed. At this point, though you
cannot bet on which coins are going to take off,
every man and his dog has a coin wire influencers
influencing you so well that you're willing to risk your
(33:00):
future wealth and you're not listening to experts because you'll.
Speaker 7 (33:04):
Never catch us saying this is the best like we
do the oppositely, we will say this performed really well,
Go away, do your and research like we will never ever.
Speaker 4 (33:11):
Ever, I always say, don't just listen to my podcast,
listen to every single other podcast on the market. Take
my advice with a grain of salt, because my advice
is always going to be shadowed by my opinion and
my conservativeness and wanting to put you in the best possible.
Speaker 3 (33:25):
Position, all of that.
Speaker 4 (33:26):
But like you might be introduced to another concept in
a way that resonates with you better. And you know what,
I don't care where you get that information. All I
care is that you personally benefited from financial literacy because
that's my mission. So I think going back to is
crypto a bad decision? No, not necessarily, but yes it
is if you're getting your advice from TikTok.
Speaker 3 (33:48):
Yes it is if you're.
Speaker 4 (33:48):
Getting it from people who are not educated and have
brought into essentially what I believe is a pyramid scheme
of cryptocurrency because it feels like a cult, and that
influence is making money on the referrals from you signing up.
That influencer is making money because every single time another
person invests into that coin, it increases in value and
(34:10):
they therefore have a more valuable portfolio, Like they are
benefiting from this. But they don't have the backing, and
that makes me so grumpy because they don't know what
they're talking about. But they will come guns braized and
be like, but see, Victoria, the proof is in the pudding. Look,
I've got all these people invested and our portfolios are increasing.
(34:31):
For how long, baby cakes? How long is this going
to work? How long is this viable? Is this even
a good crypto asset? And then zooming even further out.
If I sat down and I was having an initial
meeting with a financial advice client way back in the day,
one of the first things I would draw on my
whiteboard is a little or.
Speaker 3 (34:49):
A big L shaped graph.
Speaker 4 (34:51):
The first is risk on the yaxis, and then on
the xaxis I would have put reward right. So reward
is the bottom line and risk is the top line.
And at the bottom here you've got cash. Then it
starts to increase in risk because the more risk you take,
the more reward you could potentially get. And it goes cash,
fixed interest bonds, goes into Australian property, international property, Australian shares,
(35:15):
international shares diversified, you know, more exotic assets, and then
all the way off the chart is crypto it is
very high risk, it is very high reward. But the idea,
and I'm so sorry for this rant, but the idea
that someone in my community would for some reason be
the most comfortable with the highest risk and the highest
(35:37):
reward asset class and they have never invested before blows
my mind because we're putting the most at risk, and
if that doesn't work out, you are going to run
for the hills from investing in general.
Speaker 3 (35:49):
You are not going to be able to set future
you up because you'll be like, I lost.
Speaker 4 (35:52):
All my money when I started this investing journey and
just write it off completely, when in reality, we'd peg
you back of questions when I do or used to
do the fact find was have you invested before? If so,
what in And every fact find that you will do
or find for free online will always ask you that
(36:12):
question because that plays into how much risk you're willing
to take. So it's very uncommon when you would do
a risk reward fact find sessh with a client that
they would come out as super high risk, super high reward,
super aggressive portfolio. You might find that they fall into
the growth bucket and we're going to start there and
then maybe over the time that we work with them,
(36:35):
they become super aggressive. But like you never want to
bite off more than you can chew, or take on
more risk than you can afford to take on. Right now,
you're telling me you have priorities like IVF and you
are taking on too much risk and it is not
working up for you. Yeah, do I hate crypto? No,
but I hate it for those reasons because it doesn't
(36:56):
put my community in the best possible position. You can
tell from my tone of void mad about this.
Speaker 5 (37:00):
We're on over a horse. What did everybody else say?
Speaker 3 (37:03):
Oh?
Speaker 4 (37:03):
They had better, more regulated opinions than I. So first
question we asked was what would you do if you
were our community member. Forty four percent said only let
him invest his spending money, twenty eight percent said only
invest what you agree on, fourteen percent said deal break
at TBH, and thirteen percent said separate finances completely. We
(37:25):
then said how do you feel about crypto? Fifty seven
percent said it is too risky for me, twenty four
percent said interested but don't know enough, eleven percent said
what even is that? An eight percent said I am
already invested, which is absolutely fine. And then I said,
as always, what's your two cents. First person said, treat
(37:45):
him like any other gambler, separate your finances and get
him help. I mean, sorry, if you're taking advice from
TikTok influences, that is gambling, not investing. Someone else said,
maybe I picked this one because it supports my narrative.
The restauran't equivalent of an MLM girlie. You have to
(38:05):
look at what their advice is doing to benefit them.
Speaker 6 (38:08):
Absolutely.
Speaker 1 (38:09):
Yeah.
Speaker 4 (38:09):
The next person said, my husband uses his fun money
to invest in cryptos, so our goals aren't impacted. He
still has fun and it works really well for us.
Next person said, it took me twelve months research before
I made my first crypto investment. Don't go off influences.
Speaker 3 (38:24):
Because there will be people there.
Speaker 7 (38:26):
I feel like we have to add a tiny caveat,
especially because we're also in TikTok that.
Speaker 5 (38:29):
Like, there will be some people out there who don't all.
Speaker 3 (38:31):
My financial services license.
Speaker 7 (38:33):
Well, that's it, I say the majority. I think it's
much riskier, but always you're in research.
Speaker 4 (38:38):
Yeah, and like I think, critically looking at any piece
of information on the Internet, I don't care if you're
watching an influencer with a really sexy mascara. Why is
she trying to sell that to you? Was it gifted
to her? Was it something that she genuinely just loves
and is sharing. Was it something that she's getting commissioned
off product sales? Like I just think being critical.
Speaker 7 (39:00):
Because none of those things are bad, but they can
factor into how people represent exactly.
Speaker 4 (39:04):
And if you don't have all of the information on
the table to make the decision that's right for you,
then great. I love a good mascara though, and I
do look them up on TikTok, but I'm always like, oh,
why would you be saying that? And I look like
the paid partnership and the check things and like like, oh,
I actually I'd prefer to find an organic opinion.
Speaker 3 (39:20):
Okay.
Speaker 4 (39:21):
Next person said, my mum was scammed out of her
super with crypto ATMs at the supermarket.
Speaker 3 (39:27):
They also got her on social media too.
Speaker 7 (39:30):
A side note, I think I sent you a photo
the first time I ever saw an I did right
an age at my local shopping center for crypto, which
I boggled my mind.
Speaker 4 (39:38):
Do you know what my favorite thing is? You guys
love a little bit of tea. So everyone is always
in my personal dams on instagram sending photos like that
or just tea about investment influencers and stuff. It is
so fun but like also terrifying. Someone else said, and
I thought this one was the tea. I worked at
a cryptocurrency for a long time, and so much is
(39:59):
smoker mirrors and regulated financial marketing straight from the horse's mouth.
Speaker 3 (40:02):
Wow.
Speaker 4 (40:04):
Another person good advice said, only invest what you can
afford to lose.
Speaker 3 (40:08):
Best advice I've ever received.
Speaker 4 (40:10):
Someone else said, girl, go into his settings and reset
his TikTok algorithm while he's in the show.
Speaker 5 (40:14):
Literally, and that's where video. Yeah, I believe my girlfriend.
Speaker 4 (40:20):
Engagement IVF positive stories.
Speaker 5 (40:28):
I love it.
Speaker 3 (40:28):
All right, Well, I am going to call it. That's
where I'm going to leave it.
Speaker 4 (40:31):
I feel like I've been more than opinionated on this episode,
so I hope the rant was appreciated.
Speaker 3 (40:36):
But also I think I need to calm down on
the quiet corner for really.
Speaker 4 (40:40):
I'm just gonna have a little bit of a break,
all right, guys, We'll see you right nearly on Monday
morning for a money diary.
Speaker 3 (40:46):
But till then, have the best weekend.
Speaker 5 (40:48):
Bye bye, guys.
Speaker 10 (40:49):
Hye did buy shared on cheese 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.
Speaker 3 (41:09):
If you do choose to buy a financial.
Speaker 10 (41:11):
Product, read the PDS TMD and obtain appropriate financial.
Speaker 3 (41:14):
Advice tailored towards your needs.
Speaker 10 (41:16):
Victoria Divine and She's on the Money are authorized representatives
of money. Sheper pty Ltd ABN three two one six
four nine two seven seven zero eight AFSL four five
one two eight nine
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
Las Culturistas with Matt Rogers and Bowen Yang
Ding dong! Join your culture consultants, Matt Rogers and Bowen Yang, on an unforgettable journey into the beating heart of CULTURE. Alongside sizzling special guests, they GET INTO the hottest pop-culture moments of the day and the formative cultural experiences that turned them into Culturistas. Produced by the Big Money Players Network and iHeartRadio.
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.