Latest / She's On The Money / FRIDAY DRINKS: A BNPL Regulation Conversation

Transcript

FRIDAY DRINKS: A BNPL Regulation Conversation · She's On The Money

0:00
Speaker 1: Hello, my name's Sanatasha Nabananga Bamblet. I'm a proud yr
0:04
Speaker 1: the Order Kerni Whoalbury and a waddery woman. And before
0:08
Speaker 1: we get started on She's on the Money podcast, I
0:11
Speaker 1: would like to acknowledge the traditional custodians of the land
0:14
Speaker 1: of which this podcast is recorded on a wondery country,
0:18
Speaker 1: acknowledging the elders, the ancestors and the next generation coming through.
0:23
Speaker 1: As this podcast is about connecting, empowering, knowledge sharing and
0:27
Speaker 1: the storytelling of you to make a difference for today
0:31
Speaker 1: and lasting impact for tomorrow.
0:33
Speaker 2: Let's get into it.
0:34
Speaker 3: She's on the Money.
0:36
Speaker 2: She's on the Money.
0:57
Speaker 4: Hello, and welcome to She's on the Money, the podcast
1:00
Speaker 4: for millennials who want financial freedom. Today is Friday, which
1:04
Speaker 4: means it is time to sit back with our friends
1:06
Speaker 4: with a bevy in hand, to unpack our favorite moments
1:09
Speaker 4: of the week, and of course.
1:11
Speaker 2: To celebrate you ow incredible. She's on the Money community.
1:14
Speaker 4: As always, we're going to be sharing our favorite money weeds,
1:17
Speaker 4: We're going to discuss what's making news in the finance world,
1:20
Speaker 4: and we're going to help to answer a very juicy
1:22
Speaker 4: money question, which this week is all about bankruptcy and
1:25
Speaker 4: money trauma.
1:26
Speaker 2: But first it is time to recap the week that was.
1:29
Speaker 4: Missus Jesse Gotiucci talk us through Monday's Money Diary episode.
1:34
Speaker 5: So Monday's diarist was Uber hardworking t out she was
1:39
Speaker 5: an Uber driver, which I found really interesting because I
1:42
Speaker 5: think I said when we were on the call V,
1:44
Speaker 5: I don't think I have ever had an Uber driver?
1:47
Speaker 2: You did?
1:48
Speaker 1: You did?
1:49
Speaker 2: Actually, since you recorded that episode.
1:51
Speaker 4: We flew to Sydney and on the drive from the
1:53
Speaker 4: hotel to the airport to come home, what did we have?
1:56
Speaker 4: Jess a female driver, and I'm pretty sure I said
1:58
Speaker 4: to her, you're my first I was like, Jess, check
2:01
Speaker 4: this out. This is so aligned to our content this week.
2:04
Speaker 2: We have to mention it.
2:05
Speaker 4: We didn't mention it to her because we're kind of
2:07
Speaker 4: like awkwardly sitting in the back pig like, do well this.
2:09
Speaker 2: Is cool or not?
2:11
Speaker 5: Yeah, But it was really interesting to talk to her
2:13
Speaker 5: about what it kind of looks like because I have
2:15
Speaker 5: caught many an Uber, but I've never really thought about
2:18
Speaker 5: I guess what it's like on the other side in
2:20
Speaker 5: terms of, you know, how do you pick and choose?
2:22
Speaker 5: Do you actually make good money or is it one
2:24
Speaker 5: of those things where it's actually not that worth it.
2:27
Speaker 4: I hear mixed bag stories right where people are like,
2:29
Speaker 4: it's not worth it, rah rah. But then you actually
2:32
Speaker 4: looked at that money, dar and I was like, oh,
2:33
Speaker 4: sis is making them.
2:35
Speaker 6: Yeah, it seems pretty lucrative.
2:36
Speaker 5: And we picked her brain around the safety as a
2:39
Speaker 5: female as well, which is something that's very front of
2:41
Speaker 5: mind for me just as an anxious woman in general.
2:43
Speaker 5: So it was really interesting to get her perspective on
2:46
Speaker 5: that and while worth listen, I loved it.
2:48
Speaker 4: I felt like it was an uber good episode. Jessicricci again,
2:54
Speaker 4: let's move on.
2:55
Speaker 2: Georgia kid.
2:57
Speaker 6: Dandy, feeling good Dandy.
2:59
Speaker 4: I always like asking you how you are because you've
3:01
Speaker 4: always got a creative response.
3:03
Speaker 2: YE was like, Jess, how are you?
3:04
Speaker 6: You'd be like.
3:05
Speaker 2: Good, not bad.
3:08
Speaker 4: I saw a TikTok the other day. Actually that was
3:10
Speaker 4: like Australians never say how they feel. Like if you
3:13
Speaker 4: ask them how they are, you'd be like, oh, not bad.
3:15
Speaker 4: And you have to like fill in the blanks, like
3:17
Speaker 4: why can't you just say you are well? You have
3:19
Speaker 4: to just say, oh, I'm not bad? How far is
3:21
Speaker 4: it not far? Like come on, I'm like, we never
3:25
Speaker 4: tell you the direct answer, We just tell you what
3:27
Speaker 4: it's not.
3:28
Speaker 7: That is true, that's true. Well I'm dandy so can
3:31
Speaker 7: confirm that. But on Tuesday this week bit of a twist,
3:34
Speaker 7: a little surprise Tuesday, we just could.
3:37
Speaker 2: Not wait to get that episode in your ears.
3:41
Speaker 4: And by that, I mean I clicked Tuesday instead of
3:43
Speaker 4: Wednesday when uploading the episode.
3:46
Speaker 2: Sorry, not sorry. Let's call it a very.
3:48
Speaker 7: Cute mistapy accident. We spoke all about travel insurance, which
3:52
Speaker 7: was it's top of mind for a lot of people
3:54
Speaker 7: because everyone is on the mouth you coast right now?
3:57
Speaker 6: How is this much you.
3:59
Speaker 7: Just you just got back from you.
4:01
Speaker 2: But we won't on their mouth coat.
4:03
Speaker 4: No, And I feel like every man in his influence
4:05
Speaker 4: that is over there at the moment, really are I
4:08
Speaker 4: just I'm envious. They're sipping apparole, they're going on boats,
4:11
Speaker 4: they're going around the como l like, can you stop.
4:15
Speaker 2: I've got to go to work, and.
4:16
Speaker 6: Hopefully they're insuring themselves as well.
4:18
Speaker 7: Exactly right, Well, what we learned in the episode is
4:21
Speaker 7: that the most important thing to ensure is actually yourself.
4:24
Speaker 7: So we want comprehensive insurance, ladies, if you want to
4:27
Speaker 7: know more about that. If you do have travel plans
4:30
Speaker 7: lined up, then it's definitely the episode for you.
4:32
Speaker 4: But TLDRG, the most important thing to ensure it is
4:35
Speaker 4: actually yourself. It's not your camera or your phone or
4:37
Speaker 4: your assets. It's actually about making sure that you're safe
4:40
Speaker 4: and secure. So if you can't be bothered listening to it,
4:42
Speaker 4: kind of want to spoil it for you, because I
4:44
Speaker 4: think it is so genuinely important and it still baffles
4:48
Speaker 4: me to this day that so many people be like,
4:50
Speaker 4: it doesn't really matter. I don't want to waste my
4:51
Speaker 4: money on insurance, and literally, Jess, when we went overseas,
4:55
Speaker 4: I was like, oh, book it for us, We'll work
4:56
Speaker 4: it out later because I just want to make sure
4:58
Speaker 4: you not only have good insurance. But I know it
5:00
Speaker 4: went through. I was crazy about it. But in what
5:04
Speaker 4: else is karazy? G King on tour segue to the
5:09
Speaker 4: money wins? All right, Georgia King, what have you got
5:11
Speaker 4: for us this week? For our budget direct money wins?
5:13
Speaker 4: They were absolutely I want to say thump and they
5:16
Speaker 4: were really really good this week. So who thinks that
5:18
Speaker 4: who reads our money diary's theread and goes this is thumping?
5:21
Speaker 7: I don't know what I meant to say, But anyway,
5:23
Speaker 7: here we are. There's eight of them, so brace yourselves.
5:26
Speaker 1: Yeah.
5:27
Speaker 7: First one for the day comes from Kimberly money Win.
5:30
Speaker 7: My small business is finally thriving and doing the best
5:34
Speaker 7: it's ever done, crying emoji status. The next one comes
5:39
Speaker 7: from Sarah. My home insurance is currently due for renewal.
5:43
Speaker 7: I shopped around and completed quotes with a few different
5:45
Speaker 7: insurers online, as I do each.
5:47
Speaker 2: And every year.
5:47
Speaker 7: Wa a queen, so smart, But I couldn't find any
5:50
Speaker 7: cheaper than my renewal amount, so I phoned the existing
5:53
Speaker 7: insurer and asked for a discount. They knocked one hundred
5:56
Speaker 7: and forty dollars off the annual premium.
5:58
Speaker 2: Money Win.
6:00
Speaker 4: That is a very good call to make. But also
6:03
Speaker 4: you could just see that call as you making one
6:04
Speaker 4: hundred and forty bucks exactly, Jesse. If I gave you
6:06
Speaker 4: one hundred and forty bucks to make a phone call,
6:08
Speaker 4: would you do it?
6:09
Speaker 6: Absolutely? But when all the time for.
6:13
Speaker 2: True, It's true, George.
6:14
Speaker 4: I actually made her call my gym one time because
6:16
Speaker 4: I was too scared to cancel my membership.
6:18
Speaker 7: I can remember this.
6:19
Speaker 6: Yeah, I feel like it.
6:20
Speaker 2: Was an ordeal.
6:21
Speaker 4: Because it was a nightmare to get out of. There
6:23
Speaker 4: was like forms and we had to go in. I
6:25
Speaker 4: just I'm traumatized. Shit done, she does alrighty. The next
6:29
Speaker 4: week comes from Tory.
6:31
Speaker 7: Money you win. My partner and I booked our first
6:33
Speaker 7: holiday together in over five years yesterday, and I had
6:36
Speaker 7: budgeted for it, so it didn't feel like it was
6:38
Speaker 7: setting me back or that I was taking it from
6:40
Speaker 7: somewhere that I shouldn't be such a nice feeling. Well
6:43
Speaker 7: done to you, Tory. Make sure you get travel insurance.
6:46
Speaker 4: Make sure you get travel insurance, and also how much
6:49
Speaker 4: of a better holiday you're going to have now you're
6:51
Speaker 4: not stressed about money on exactly and like saving up for.
6:54
Speaker 7: It instead of after paying you.
6:55
Speaker 2: I love the Queens.
6:57
Speaker 7: Yes, exactly right. The next week it comes from Tathy.
6:59
Speaker 7: This one's a bit a PSA which I saw you
7:01
Speaker 7: commented on in the group, Jess, so.
7:03
Speaker 2: It must be good getting involved.
7:05
Speaker 6: This stuff is good.
7:06
Speaker 7: It comes from Kathy. I read about the Medibank Private
7:10
Speaker 7: Live Better app in this group a year or so ago,
7:12
Speaker 7: and I downloaded it. You earn points through logging any
7:15
Speaker 7: health and well being activities you've participated in each day
7:18
Speaker 7: you can then sink your fitness trackers to it. You
7:21
Speaker 7: earn points that can then be swapped for rewards like
7:23
Speaker 7: added as vouchers, AirPods, smart watches, and so on. Then
7:27
Speaker 7: a few months ago I had enough points to replace
7:29
Speaker 7: my fitbit that had died, and I now have enough
7:31
Speaker 7: points to claim a two hundred dollars payment towards health
7:34
Speaker 7: insurance premiums. Yes, probably pase this, bloody brother.
7:37
Speaker 6: I feel like it.
7:38
Speaker 4: Sounds a little bit like my AIA Vitality membership which
7:41
Speaker 4: I've mentioned before, which comes with my insurance. Because if
7:43
Speaker 4: I make enough steps and I do the health checks
7:45
Speaker 4: and all of the stuff in the app on there,
7:47
Speaker 4: I mean I could get into it, but there's a
7:48
Speaker 4: lot to it. You actually get a discount on your insurance.
7:52
Speaker 4: So like I'm always trying to make sure that I
7:53
Speaker 4: make my steps and I'm healthy and I do my
7:55
Speaker 4: optical check every year and do all of my stuff
7:57
Speaker 4: because you get different amounts of points for different activities
8:00
Speaker 4: that you do that will contribute towards your health.
8:02
Speaker 2: And I think it just makes sense.
8:03
Speaker 4: Like these health insurance companies, you're like, this is some
8:05
Speaker 4: money win.
8:06
Speaker 2: This makes sense, but it's a win for them as.
8:08
Speaker 4: Well, because if they've got healthier customers, the likelihood of
8:11
Speaker 4: you actually claiming on insurance is lower, so you're less
8:13
Speaker 4: likely to be sick, but you're also saving money.
8:16
Speaker 2: Like it's a winner for everybody. It is much genius.
8:19
Speaker 7: From that remarkable high, I'm now going to take us
8:21
Speaker 7: through some money losses. But's I thank you all made
8:24
Speaker 7: me laugh, so prauss yourselves. The first one comes from
8:27
Speaker 7: Lisa money loss. I went to see Frozen, the musical
8:31
Speaker 7: I'm issuing this weekend with my child. They asked for
8:34
Speaker 7: an O laugh plush, and I thought, why not? Seventy
8:37
Speaker 7: five dollars later, I knew where I was moving forward.
8:42
Speaker 7: I will now be asking the cost of something before
8:44
Speaker 7: saying yes again.
8:45
Speaker 6: Seventy five dollars for a whole loss.
8:47
Speaker 7: Flush, you're kidding me, Okay, okay, out of contu.
8:52
Speaker 2: You're a kid in yourself, mate.
8:55
Speaker 4: Just and I went to Disneyland recently and I did
8:57
Speaker 4: buy an e or toy.
8:58
Speaker 6: How much that's it?
8:59
Speaker 7: You?
8:59
Speaker 4: I can't but it was probably very expensive and I
9:02
Speaker 4: gave it to my dog, So I just feel like
9:03
Speaker 4: that was the most expensive thing I've ever bought.
9:07
Speaker 7: Oh bless Okay, The next loss comes from Allie money loss.
9:11
Speaker 7: My partner got blind, drunk and got a taxi alone
9:14
Speaker 7: from Melbourne to Geelong Friday time. I don't think it's
9:18
Speaker 7: meant to be funny, like I'm so sorry, Ellie. That sucks,
9:20
Speaker 7: but we've also all been there.
9:23
Speaker 6: I hope he's part and not the shd take me.
9:30
Speaker 7: I just had this.
9:31
Speaker 4: Idea, like, you both know Steve, my partner well, like
9:35
Speaker 4: I can imagine if he'd done something like that and
9:37
Speaker 4: turned up at home, he'd be like, I'm home.
9:38
Speaker 2: Aren't you excited?
9:40
Speaker 8: Did get me?
9:42
Speaker 2: He would be so stoked. I had mom early jess
9:45
Speaker 2: are you excited? No, no, I'm not good.
9:48
Speaker 7: And the next one comes from Angelica money Win. I
9:52
Speaker 7: scored two hundred dollars off my wedding reception dress, down
9:55
Speaker 7: from five hundred dollars, which is incredible money loss. As
9:59
Speaker 7: I was traveling to the dress shop, I ended up
10:01
Speaker 7: getting a speeding fine. So evens out, I am going
10:06
Speaker 7: to end it on an inspirational note today, ladies. It
10:08
Speaker 7: comes from Teagin money Win. I got a promotion at work,
10:12
Speaker 7: but the salary wasn't quite what I expected it to be.
10:14
Speaker 7: I thought about taking the easy option and just accepting
10:17
Speaker 7: it and signing the paper. As it was already super
10:19
Speaker 7: excited to get the promotion. I decided to sleep on
10:22
Speaker 7: it and woke up the next morning and wrote a
10:23
Speaker 7: list of points as to why I was worth more.
10:26
Speaker 7: I went in feeling confident and stated the facts and
10:28
Speaker 7: then gave them my number. They rang me on Friday
10:31
Speaker 7: and said they were proud of me for going back
10:33
Speaker 7: and they've rounded the number up.
10:34
Speaker 6: Thank you.
10:35
Speaker 7: She's on the money for giving me.
10:36
Speaker 4: The skills to achieve this. What a good place to
10:39
Speaker 4: leave it. I love that, Georgia. I thought you were
10:41
Speaker 4: taking a few liberties going I've got eight this week.
10:44
Speaker 2: I was like, oh do you?
10:45
Speaker 4: But all of those absolutely made the cut. It has
10:47
Speaker 4: been great, gee, celebrating some of your budget Direct money
10:50
Speaker 4: wins Budget Direct winner of Canstar's Insurer of the Year
10:53
Speaker 4: Award twenty twenty two. Budget Direct Insurance solved with that,
10:57
Speaker 4: my friends, let's go to a quick break and then
10:59
Speaker 4: we're going to dive straight into.
11:00
Speaker 2: Some very juicy money topics.
11:06
Speaker 4: All right, let's dive straight back in, miss Jessica. She
11:10
Speaker 4: I believe you have a piece of content you would
11:12
Speaker 4: like to discuss with the group of course.
11:15
Speaker 5: Now don't turn off when I say this word after pay.
11:19
Speaker 2: I don't turn off.
11:20
Speaker 4: Georgia gains through spicy, she gets through heated.
11:22
Speaker 6: She's literally just like stood up.
11:28
Speaker 2: I'm ready.
11:29
Speaker 5: I know we talked about out to pay a lot,
11:30
Speaker 5: but we got reasons so Eddy dms because over the weekend.
11:36
Speaker 5: This is in Auckland, New Zealand. But I wouldn't be
11:38
Speaker 5: surprised if they tried to roll it out here as well.
11:40
Speaker 5: A bottleo rolled out after pay in their store, which
11:44
Speaker 5: means that obviously you can break down your payment of
11:46
Speaker 5: alcohol into full.
11:47
Speaker 2: For yeah, a kind of them.
11:51
Speaker 5: Been a lot of criticism around this, beyond what we
11:54
Speaker 5: normally talk about, and I thought it was a very
11:56
Speaker 5: interesting conversation because alcohol is obviously a control old substance,
12:00
Speaker 5: there's an addictive substance, and in Australia, and I know
12:03
Speaker 5: we talking about New Zealand, but there's definitely a history
12:06
Speaker 5: of culture relating to bad habits when it comes to
12:09
Speaker 5: over consumption of alcohol. And the criticism that we're seeing
12:13
Speaker 5: is people saying this shop shouldn't do it. It's so unethical.
12:17
Speaker 5: If people can't afford a drink, they shouldn't buy a drink.
12:20
Speaker 5: This is going to enable people who arguably maybe are
12:23
Speaker 5: in a bit of a bad place to purchase more
12:25
Speaker 5: than they would normally be able to because they can
12:27
Speaker 5: afford more. And the debate it kind of sparked was
12:30
Speaker 5: really interesting because I think it comes down to, ethically,
12:34
Speaker 5: is the responsibility on the store owner? So let's say
12:37
Speaker 5: it's a small business, because it didn't roll out in
12:39
Speaker 5: like a Dan Movies, I think it was an independent
12:42
Speaker 5: Is it the store owner's job to regulate that? Is
12:44
Speaker 5: it our job as consumers to keep an eye on
12:47
Speaker 5: what we're doing, or more broadly, should the government be
12:49
Speaker 5: stepping in and keeping an eye on these things? Where
12:52
Speaker 5: does that responsibility lie? Because at the moment, it really
12:54
Speaker 5: seems like everyone's kind of going, not my problem, not
12:57
Speaker 5: my circle's, not my monkey's, and nothing's being done, and
13:00
Speaker 5: these policies or these steps are being put in place
13:03
Speaker 5: that really, in my opinion, kind of pushed the boundaries
13:06
Speaker 5: of what is and isn't okay. But that's also totally
13:09
Speaker 5: a personal perception thing, and so I wanted to see
13:12
Speaker 5: what you guys kind of thought about it.
13:13
Speaker 4: Well, given I'm basically best friends with Jacinda Arjurn, let
13:16
Speaker 4: me for her. At our next meeting, I'll just bring
13:20
Speaker 4: it up and be like, hey, could you fix this,
13:21
Speaker 4: and she'll be like, no problems, babe, got you, and
13:24
Speaker 4: we'll organize it all. But I think from my perspective again,
13:28
Speaker 4: I'm obviously not that stoked with it, But if we
13:31
Speaker 4: compare it to other industries. We were talking and it
13:33
Speaker 4: hasn't come out yet, it'll come out next week. We
13:35
Speaker 4: have a money diary with a woman who is a
13:38
Speaker 4: sex worker, and she was saying that payment terminals often
13:41
Speaker 4: kick sex workers off those terminals because they think that
13:44
Speaker 4: they're generating money that is maybe not as closher as
13:47
Speaker 4: it could be, and they see that as a high
13:49
Speaker 4: risk industry so they say no, thank you. So it's
13:52
Speaker 4: the platform taking the responsibility, and then also looking at
13:56
Speaker 4: the way Australia governs financial advisors and accountants and you know,
13:59
Speaker 4: financial platforms, it's actually very different to the way it
14:03
Speaker 4: is managed around the world. So Jess, you and I
14:05
Speaker 4: are actually going to a conference in September in the US.
14:09
Speaker 4: It's a finance conference so that we can learn about
14:11
Speaker 4: how other people are producing money content internationally, and we
14:14
Speaker 4: are so genuinely excited. Actually low key, I'm speaking at
14:17
Speaker 4: the event, I am stoked. But in America, the onners
14:21
Speaker 4: is put on the consumer and they say the consumer
14:24
Speaker 4: has to go do their own research and make the
14:26
Speaker 4: decision that's right for them. In Australia the opposite is true.
14:30
Speaker 4: And you're seeing this a lot at the moment in
14:32
Speaker 4: the media with financial advisors being come down on like
14:35
Speaker 4: a town of bricks when it comes to acid regulations
14:38
Speaker 4: and finfluences, you know, coppying a lot of heat at
14:40
Speaker 4: the moment for the content they produce. Because in Australia,
14:44
Speaker 4: the onners is put on the content creator, or the
14:46
Speaker 4: onners is put on the business. So if you then
14:49
Speaker 4: apply this to this particular situation, I look at it
14:53
Speaker 4: and I go, yeah, it's in New Zealand. There are
14:55
Speaker 4: friends across the ditch. Yes, they're not governed by the
14:58
Speaker 4: same rules and regulations here in a s Australia. But
15:01
Speaker 4: from my perspective as an Australian, I would then assume
15:04
Speaker 4: that the onus is on after pay to regulate that
15:06
Speaker 4: and not allow things like alcohol or tobacco or gambling
15:09
Speaker 4: on their platforms because it's not an essential item. I
15:13
Speaker 4: think you guys and I sit in a very privileged
15:16
Speaker 4: position where we get to look at after pay as
15:18
Speaker 4: something that is, you know, the big bad wolf, and
15:20
Speaker 4: we do need to look at it from a little
15:23
Speaker 4: bit more of a less entitled view and go, gin,
15:25
Speaker 4: know what, there are people out there that need this
15:27
Speaker 4: to get by. It's something that they're using that is
15:30
Speaker 4: enabling them to have a good lifestyle or change their
15:33
Speaker 4: lives in a way that they weren't able to before,
15:35
Speaker 4: whether that's because they can't access credit or they have
15:38
Speaker 4: you know, we've heard stories in our community, people like
15:40
Speaker 4: the I use after pay all the time because I
15:42
Speaker 4: only have sentling and I just need to get through
15:44
Speaker 4: the next pay, and you know, I'm really responsible with it,
15:47
Speaker 4: but I might be buying Christmas presents where I might
15:50
Speaker 4: be buying things that my kid needs for school, or
15:52
Speaker 4: more recently, I've spoken to people and they're like, the
15:55
Speaker 4: it's so good. I know that you don't like after pay,
15:58
Speaker 4: but I've been paying for doctors of moments on that
16:00
Speaker 4: that otherwise I would have been really stressed about that
16:03
Speaker 4: my kid needed. And I go, wow, like, there are
16:05
Speaker 4: some good reasons to use it, But then alcohol, to me,
16:10
Speaker 4: that's a luxury that's not something that is a necessity.
16:14
Speaker 4: It's something that can be used and abused, and it
16:16
Speaker 4: just is not putting our community in the right position.
16:20
Speaker 4: And the messages I'm getting a test to that, like
16:22
Speaker 4: they genuinely break my heart. It's making me go, oh,
16:25
Speaker 4: I wish I could do more, but what can you do?
16:28
Speaker 4: This isn't even happening in our country.
16:30
Speaker 7: Well, a lot of the people that are going to
16:32
Speaker 7: be using after pay in bottle shops if this does
16:34
Speaker 7: become a thing across the board and infiltrates into the
16:37
Speaker 7: Australian marketplace as well. They're people that can't afford alcohol
16:41
Speaker 7: from where they're at currently. They're in these bad, bad
16:45
Speaker 7: positions and it's really exploiting extremely vulnerable people. That's why
16:51
Speaker 7: I don't like after pay full stop. But to move
16:53
Speaker 7: into this alcohol space is just makes me very mad.
17:00
Speaker 7: We saw it maybe like six months ago, maybe a
17:02
Speaker 7: little bit longer. You can now like after pay your cocktails.
17:05
Speaker 4: Yeah, and it's not just to pay right, like we
17:08
Speaker 4: highlighted on our She's on the Money stories, payoh, which
17:11
Speaker 4: is a company that purely exists for bars, restaurants and
17:15
Speaker 4: food providing services. And I was just like, what there's
17:18
Speaker 4: a food specific buy now, pay later, Like where's the line,
17:23
Speaker 4: Like how does that work? And I think my biggest
17:26
Speaker 4: gripe with it is that it's just not regulated in
17:29
Speaker 4: the same way credit would be, because a lot of
17:31
Speaker 4: people are gonna jump up and down and be like, Victoria,
17:34
Speaker 4: you can go and put a bottle of vodka on
17:36
Speaker 4: your credit card tomorrow. Yeah, but like there's checks in
17:40
Speaker 4: place for you to be able to do that. They've
17:42
Speaker 4: checked your financial history, they've checked your serviceability, they've checked
17:45
Speaker 4: whether you can repay that loan, because that's basically what
17:48
Speaker 4: it is, whereas those same restrictions don't apply to after pay,
17:52
Speaker 4: So to me, it's a really slippery slope.
17:54
Speaker 7: So yes, obviously my disdain for after pay is very
17:59
Speaker 7: You had it for just a little bit of disdain,
18:02
Speaker 7: but I wanted to play the devil's advocate here, ladies,
18:05
Speaker 7: because we, as we've said on the podcast, are heading
18:09
Speaker 7: into a recession.
18:10
Speaker 6: Things.
18:11
Speaker 2: Don't get that word around here. We are having a
18:13
Speaker 2: good data.
18:14
Speaker 6: Now, but things are really really tough.
18:16
Speaker 7: The cost of living is ridiculous right now, and small
18:20
Speaker 7: businesses are facing that crisis as well. So we know
18:25
Speaker 7: that after pay is really good for small business. So
18:28
Speaker 7: how do they kind of balance that ethical dilemma of
18:32
Speaker 7: wanting to use after pay to attract more consumers and
18:36
Speaker 7: customers while also dealing with the ethical ambiguity of offering
18:41
Speaker 7: a service that might put customers in a precarious situation.
18:45
Speaker 4: It's such a hard position because you look at it
18:48
Speaker 4: and you go pragmatically. After pay makes a lot of
18:50
Speaker 4: sense for small business. Statistically, Gee, the stats on the
18:54
Speaker 4: after pay website say the average Australian small business merchant
18:58
Speaker 4: sees are thirteen percent uppleiest in rev you by partnering
19:00
Speaker 4: with after pay, which equates to around thirty two thousand
19:03
Speaker 4: dollars in new revenue annually. Like, if I was a
19:06
Speaker 4: small business and it doesn't matter what I was selling,
19:08
Speaker 4: if I was selling candles or stationery, or if I
19:11
Speaker 4: had a bikini business, like, I would look at it
19:13
Speaker 4: and go well, from my perspective, I just want to
19:16
Speaker 4: sell my product and get my product on more people's shelves.
19:19
Speaker 4: And a good way to do that is to increase
19:22
Speaker 4: the ways people can pay. And you know, if I'm
19:25
Speaker 4: selling candles and I go oha, my candles are only
19:28
Speaker 4: like thirty dollars each or fifty dollars each or whatever
19:30
Speaker 4: inflation has made them these days. What is my responsibility?
19:34
Speaker 4: Like should I stop Jess from paying for one of
19:36
Speaker 4: my candles because she really wants it in four separate payments?
19:39
Speaker 4: Like Jess is a very I'm using you as an example,
19:42
Speaker 4: my friend, But Jess is a really financially conscious person.
19:45
Speaker 4: I know what your savings habits are, and I know
19:47
Speaker 4: that if you used a platform like after pay, you
19:49
Speaker 4: would probably be using it because you're cash flowing or
19:52
Speaker 4: you're like, oh well, I gave myself this budget and
19:54
Speaker 4: cashlow plan and I only have this amount to spend
19:56
Speaker 4: per week, so I'm going to take it out of
19:58
Speaker 4: my cash flow plan for the next four weeks. This
20:00
Speaker 4: makes sense, and you can use it really constructively and
20:04
Speaker 4: for the people that just want to use it as
20:05
Speaker 4: a cash flow tool, like are you taking something away
20:08
Speaker 4: from them by worrying about the people that aren't as responsible?
20:12
Speaker 4: And how responsible are you for people's actions? Like obviously,
20:17
Speaker 4: I care so much about our community and want them
20:20
Speaker 4: to be in the best possible position, so I jump
20:22
Speaker 4: up and down about it. But Georgia, how much of
20:25
Speaker 4: a responsibility is it on you to manage your friends'
20:29
Speaker 4: finances or the decisions they make if they're a grown adult.
20:32
Speaker 7: Yeah, it's such a hard one because it does it
20:34
Speaker 7: comes down to the individual. But what's missing in that
20:37
Speaker 7: piece is the education. And we're doing our best atchoes
20:40
Speaker 7: on the money to explain the details of all of this,
20:43
Speaker 7: and you know, Piers through the marketing that is really
20:47
Speaker 7: confusing and makes us feel like things are okay when
20:49
Speaker 7: they're really not. So I don't know who's responsibilities. It's
20:53
Speaker 7: really really hard.
20:54
Speaker 4: It is right because it's like I feel like it's
20:57
Speaker 4: my responsibility as a financial advisor to education you guys.
21:01
Speaker 4: But I also say often like I don't care what
21:03
Speaker 4: you do with your money as long as you're educated
21:05
Speaker 4: and you know that the decisions you are making are
21:07
Speaker 4: the right ones for you. I really want to be
21:10
Speaker 4: able to put the onus back on you and say, well, gee,
21:13
Speaker 4: if you go and make that decision, that's on you, Like,
21:16
Speaker 4: I'm not going to judge that situation. That's not my position.
21:19
Speaker 4: If we took this and put it in any other
21:22
Speaker 4: stream of life, whether that's sex or religion, money is
21:27
Speaker 4: that other spicy topic that people don't like talking about.
21:30
Speaker 4: How much do I have to control over your religion,
21:32
Speaker 4: or your sex.
21:32
Speaker 2: Life or any of that. Why should I.
21:35
Speaker 4: Then have a say over you know, my client's financial life.
21:38
Speaker 2: Do you know what I mean?
21:38
Speaker 4: Like, unless you've come to me as an advisor and
21:40
Speaker 4: said I want financial advice from you, Victoria, I don't
21:43
Speaker 4: think it's any of my business to dish out advice.
21:46
Speaker 4: This podcast is educational because I want you to want
21:48
Speaker 4: to educate yourself, but if you're listening to it, it's
21:51
Speaker 4: because you want that already, right, Like, yeah, it's about
21:54
Speaker 4: where the onus is, but it's also about when do
21:57
Speaker 4: you expect the government to step in? And if this
22:00
Speaker 4: word happened in Australia, which it basically has already with
22:03
Speaker 4: buy now, pay later platforms like Payoh, where's the line
22:08
Speaker 4: where does the government step in and say, you know what?
22:10
Speaker 4: We know that the Australian population does not have good
22:13
Speaker 4: financial literacy, so therefore there needs to be a few
22:16
Speaker 4: steps here to put them in the best possible position.
22:19
Speaker 4: Whereas if they could be like oh no, like financial
22:21
Speaker 4: literacy is a core pillar of our education system and
22:24
Speaker 4: they've been doing it since prep. They know, well, that
22:28
Speaker 4: might be a different story. But till then, I think
22:30
Speaker 4: that there needs to be a bigger governing body that
22:33
Speaker 4: makes sure that we are in the best possible position.
22:36
Speaker 4: In the same way that the government has restricted the
22:38
Speaker 4: sale of tobacco and have restricted the sale of alcohol
22:41
Speaker 4: to people under the age of eighteen, and like they've
22:43
Speaker 4: made all these other rules to protect us, why is
22:46
Speaker 4: this not an extension of that?
22:48
Speaker 5: And I think because we're treading unprecedented waters here with
22:52
Speaker 5: you know, I think businesses like after pay and buying
22:55
Speaker 5: our pay lader platforms in general are really pushing and
22:57
Speaker 5: testing the boundaries to see what they can and can't
22:59
Speaker 5: get away with, and they, you know, would have really
23:02
Speaker 5: big teams in the background working to find how they
23:05
Speaker 5: can be compliant in the most bendy way possible for them.
23:13
Speaker 5: I'm a big believer in the power of the people,
23:15
Speaker 5: and what I would say to all of our friends
23:17
Speaker 5: in New Zealand and all of our friends in Australia,
23:19
Speaker 5: should we, you know, come to this point make a report.
23:23
Speaker 6: In New Zealand.
23:24
Speaker 5: The Commerce Commission which is ComCom dot Govte dot NZ.
23:28
Speaker 5: They're the regulating body here in Australia. It's consumer Affairs
23:33
Speaker 5: and one of their dot points on their website it
23:35
Speaker 5: says that their role is to regulate credit contracts and
23:39
Speaker 5: Consumer Finance Act, which protects consumers when they borrow money
23:42
Speaker 5: or buy goods on credit. And so while it's not
23:46
Speaker 5: a direct line of credit, they're definitely borrowing money to
23:49
Speaker 5: gene and that I would suggest, if you feel the
23:52
Speaker 5: same way that we do, send them a nice email.
23:55
Speaker 5: There's a big red button that says make it very same.
23:58
Speaker 5: They make it really easy and say to them, hey,
24:01
Speaker 5: I'm really concerned about the direction this is going. This
24:03
Speaker 5: seems really unethical, and I think it's something you should
24:06
Speaker 5: look into because if enough people start making that complaint,
24:10
Speaker 5: it will trigger an investigation. And that's all you can
24:13
Speaker 5: really do is try to facilitate change. But it requires
24:17
Speaker 5: people to take that little step and do something about it.
24:20
Speaker 5: So that's what I would personally suggest, because I do
24:22
Speaker 5: think that right now these platforms are kind of seeing
24:25
Speaker 5: what they can get away with, and it's up to
24:27
Speaker 5: us as a community and just as human beings to say, actually,
24:32
Speaker 5: it's not good enough, yeah, and to talk to.
24:34
Speaker 7: Each other about it as well. If you have mates
24:36
Speaker 7: that you know use after pay and would be tempted
24:38
Speaker 7: by something like this, if you are in New Zealand,
24:40
Speaker 7: talk to them about it, help them out with that education.
24:42
Speaker 7: If they're not share these.
24:43
Speaker 4: Podcasts with them exactly, if you don't even have to
24:46
Speaker 4: sit them down and be like, okay, Georgia, I was thinking,
24:48
Speaker 4: you need to Xpyz. You can bring finance topics up
24:51
Speaker 4: in really non confrontational ways where you put the onus
24:54
Speaker 4: back on you, and you'd be like, oh my gosh,
24:55
Speaker 4: I was listening to this great podcast the other day
24:57
Speaker 4: and they were saying x y Z Jess. If you
24:59
Speaker 4: haven't le to it, I'll send you the link, because honestly,
25:02
Speaker 4: it made me really think. And you just don't have
25:04
Speaker 4: to say, oh my gosh, yes, So I noticed you
25:06
Speaker 4: use after pain, and I just don't think that's a
25:07
Speaker 4: good thing. Like it's not your job to tell people
25:10
Speaker 4: what to do with their money, but I think it's
25:12
Speaker 4: everybody's job to increase the level of financial literacy we have.
25:16
Speaker 4: And once we get to a point where I genuinely
25:19
Speaker 4: feel like our community is financially literate, I'll probably not
25:23
Speaker 4: be as vocal on these platforms because I'll be like cool,
25:25
Speaker 4: like they exist, but I know people use them responsibly,
25:28
Speaker 4: like and I know that people understand the repercussions of
25:30
Speaker 4: their decisions. And I know that people are in a
25:32
Speaker 4: pretty good position because they've you know, structured things right,
25:35
Speaker 4: But we can't genuinely say that. And I think that
25:38
Speaker 4: that's why we're so uncomfortable, because we're looking at it going.
25:40
Speaker 4: There are so many people that are gonna, you know,
25:42
Speaker 4: end up in compromising positions because of this, because they
25:45
Speaker 4: just don't know any better. And I mean, that's a
25:47
Speaker 4: really beautiful thing that we care. But you also have
25:50
Speaker 4: to go how much of this is our responsibility, how
25:53
Speaker 4: much of it is the responsibility of the government, and
25:56
Speaker 4: how much is a product responsibility?
25:58
Speaker 7: Lots to think about, ladies, But I reckon it's probably
26:02
Speaker 7: time for a little money dilemma.
26:03
Speaker 6: If we're interested, Oh would love that.
26:05
Speaker 7: That's how to listen, Hi, Beert, have you got a
26:09
Speaker 7: money dilemma you just can't solve that? She's on The
26:12
Speaker 7: Money Team is here to help. Every week we tackle
26:15
Speaker 7: your dilemmas, both big and small, to answer your most
26:17
Speaker 7: burning money, career and life questions. To get involved, simply
26:21
Speaker 7: head to our website and leave us a quick voice recording,
26:24
Speaker 7: and you may just find yourself on the show. Now
26:26
Speaker 7: let's take a listen to today's money dilemma.
26:30
Speaker 3: My husband and I had to start over again after
26:33
Speaker 3: being bankrupt from our business. We have done an amazing
26:38
Speaker 3: job saving We got a twenty percent deposit together, purchased.
26:42
Speaker 8: A block of land and in our building. However, I
26:45
Speaker 8: am petrified of having not so much money in the
26:48
Speaker 8: account I just keep thinking back to when we had nothing.
26:53
Speaker 8: We've worked so hard and I know we have money
26:56
Speaker 8: in the accounts and we are quite stable, but I
27:00
Speaker 8: have a massive fear of looking at the bank accounts
27:03
Speaker 8: and I just don't know what to go, where to
27:05
Speaker 8: go from here? We have no other debts apart from
27:08
Speaker 8: a home loan. Please help me.
27:11
Speaker 6: I really feel for her.
27:12
Speaker 5: She sounds like genuinely stressed, Like that's my first thought,
27:16
Speaker 5: Like off the back of.
27:17
Speaker 2: That, yeah, actually I don't.
27:18
Speaker 4: That tone of voice was, SI, oh, I'm not in
27:22
Speaker 4: a good place with this.
27:23
Speaker 5: I totally get being stressed out. I think like I've
27:26
Speaker 5: obviously never been through bankruptcy myself. But we did a
27:28
Speaker 5: really good episode actually on it a couple months ago.
27:31
Speaker 5: But I would highly recommend it because we spoke a
27:32
Speaker 5: lot about the stigma and how it can actually be
27:35
Speaker 5: a really positive choice for somebody if you're making it
27:37
Speaker 5: and it's the right decision for you, which I think
27:39
Speaker 5: is a great thing. But I can totally understand how
27:43
Speaker 5: going through something like that could really bring out a
27:47
Speaker 5: lot of anxiety. And we refer to earlier as a
27:49
Speaker 5: little bit of trauma, you know, that real stress around
27:52
Speaker 5: Oh my gosh, Like, I don't want to find myself
27:55
Speaker 5: back in that position where things are so difficult and
27:58
Speaker 5: I'm making these really hard choices do impact my future
28:01
Speaker 5: and do impact my ability to borrow money. I'm sure
28:04
Speaker 5: that they would have had to jump through some hoops
28:06
Speaker 5: to get this mortgage that they've got, which is very exciting. Congratulations, Yeah,
28:10
Speaker 5: super exciting. But I can totally see how that would
28:13
Speaker 5: be really anxiety inducing. And I think that it's probably
28:17
Speaker 5: a little bit bigger than you know, normally we'd say, hey,
28:20
Speaker 5: look at your.
28:20
Speaker 6: Cash flow system.
28:21
Speaker 2: It's not that at all.
28:22
Speaker 1: Is that.
28:23
Speaker 5: I think it's a much bigger issue, and V, I'd
28:26
Speaker 5: love to know what you suggest she kind of do
28:28
Speaker 5: to help deal with those feelings.
28:29
Speaker 4: I think the first thing that I would say here
28:32
Speaker 4: is you are validated in your feelings, and even though
28:35
Speaker 4: quote you're better that doesn't mean that there's not trauma there.
28:39
Speaker 4: And I think validating that financial trauma exists is really
28:42
Speaker 4: important because it's scientifically proven that you can be traumatized
28:46
Speaker 4: from your financial situation. Bankruptcy includes so much more than like, oh, Jess,
28:51
Speaker 4: you had to file for bankruptcy and you skip down
28:53
Speaker 4: the lane and you're in a better position to hurry,
28:55
Speaker 4: you'll be able to get a mortgage later. Like, there's
28:57
Speaker 4: so much stress and energy during that process that actually
29:01
Speaker 4: needs working through. So in this circumstance, I would recommend,
29:05
Speaker 4: and this is not just a bankruptcy, if you've been
29:07
Speaker 4: through any type of traumatic event, financial or otherwise, I
29:11
Speaker 4: would seek therapy. And I would be going to talk
29:14
Speaker 4: to a professional counselor or psychologist, or I'd be going
29:17
Speaker 4: to talk to my GP asking for a mental health
29:19
Speaker 4: care plan and just saying, look, I need to work
29:22
Speaker 4: through these things because anxiety is real and we need
29:25
Speaker 4: to find ways to not only cope with that, but
29:28
Speaker 4: really understand the root cause. And you still feeling anxious
29:31
Speaker 4: about money even though you're quote in a better position,
29:34
Speaker 4: is an indicator that you are not fully across, that
29:37
Speaker 4: you're not over that line. We're not over that at all,
29:40
Speaker 4: and you actually need to delve deeper into that. I
29:43
Speaker 4: do find this to be very common in people who
29:46
Speaker 4: experience bankruptcy or go through a similar process, because you
29:50
Speaker 4: end up wanting to stick your head in the sand,
29:52
Speaker 4: Like bills make you so anxious and you don't want
29:55
Speaker 4: to open another one because what if it's a bill
29:57
Speaker 4: that is not expected? What if it's a fohone bill
30:00
Speaker 4: that's above and beyond what you had anticipated. What if
30:03
Speaker 4: it's the mortgage company calling you and saying, well, actually
30:06
Speaker 4: you accidentally paid your mortgage into the wrong account and
30:09
Speaker 4: you're now behind three months. Like I'm not saying that
30:12
Speaker 4: those things are true, but when you're anxious, you dramatize
30:16
Speaker 4: everything and you make everything seem much worse than it
30:18
Speaker 4: actually is.
30:18
Speaker 6: And we need to.
30:19
Speaker 4: Work on that because as a fellow anxious person, that
30:22
Speaker 4: impacts your ability in your relationships, in your ability to
30:25
Speaker 4: derive an income, in your ability to you know, be
30:28
Speaker 4: physically healthy. Like, these things impact you so deeply. It's
30:32
Speaker 4: not funny. And I think that we don't really talk
30:35
Speaker 4: about and I don't think we've talked about financial trauma
30:37
Speaker 4: on the podcast before, but I pulled up a few
30:40
Speaker 4: stats about it. For you, guys, it has a definition.
30:44
Speaker 4: Financial trauma is a moment in someone's life where things
30:47
Speaker 4: changed and a belief and image about their relationship with
30:50
Speaker 4: money turns around in a negative way. So obviously that
30:54
Speaker 4: makes sense to me. But one thing that I thought
30:56
Speaker 4: was really interesting is I was reading an article on
30:59
Speaker 4: the Nation Child Traumatic Stress Network, which is an American website,
31:03
Speaker 4: but often when it comes to finances, America is actually
31:07
Speaker 4: a lot more progressive when talking about things like financial trauma.
31:10
Speaker 4: Australia I feel like it's genuinely ten years behind when
31:13
Speaker 4: it comes to finance content. But I found this article
31:17
Speaker 4: that said researchers have revealed that socioeconomic status can be
31:21
Speaker 4: linked to a majority of anxiety disorders, which later can
31:25
Speaker 4: manifest into PTSD, which is post traumatic stress disorder. Food insecurity,
31:30
Speaker 4: financial worries, housing instability, along with living in vulnerable conditions
31:35
Speaker 4: can wear a one psyche like this is not just
31:38
Speaker 4: me going oh my gosh, guys, get some help, like
31:40
Speaker 4: genuinely research that was done by the APS. So the
31:43
Speaker 4: Australian Psychological Society found that money was the number one
31:46
Speaker 4: stressor for employed people. So it makes sense that we're
31:49
Speaker 4: all stressed about money, But I just don't think we
31:51
Speaker 4: give it enough credit to say that you can be
31:54
Speaker 4: traumatized from your personal financial situations, like whether it is bankruptcy.
31:58
Speaker 4: And I guess that sits on one end of this
32:00
Speaker 4: spectrum with things like financial abuse and going through really
32:02
Speaker 4: dramatic situations all the way through to you know, the
32:05
Speaker 4: situation I was in where I had a personal loan
32:07
Speaker 4: and I just couldn't sleep at night and I was
32:09
Speaker 4: super stressed about being able to pay it. So now
32:12
Speaker 4: whenever we talk about personal loans or you know, I'm
32:14
Speaker 4: talking about trying to afford things, like, I get that
32:16
Speaker 4: twang in the back of my head that makes me
32:18
Speaker 4: feel a little bit sick in my stomach because I go, oh,
32:21
Speaker 4: I don't want to be there, Like I just don't
32:23
Speaker 4: want to be in a compromising position. And even when
32:26
Speaker 4: we were in Europe recently, just so like I had
32:28
Speaker 4: that pit in my stomach, I was like, am I
32:30
Speaker 4: reverting to old behaviors? Not because I was going into
32:32
Speaker 4: debt or using credit or doing anything that I don't
32:35
Speaker 4: want to do, but because I wasn't tracking my money
32:38
Speaker 4: as closely as I usually do. And for me, that's
32:41
Speaker 4: My safety net is always knowing in the back of
32:43
Speaker 4: my mind what I'm spending, what I'm saving, what that
32:45
Speaker 4: looked like for this week.
32:46
Speaker 2: And I remember there was one particular.
32:47
Speaker 4: Point I was like, I don't know how much I've
32:49
Speaker 4: spent this week. This gives me anxiety, knowing full well
32:52
Speaker 4: I could afford it because I'd already budgeted for it
32:54
Speaker 4: and I knew what was going on, and like we
32:56
Speaker 4: had these budgeting spreadsheets, but I didn't know how that
32:59
Speaker 4: budgeting spreadhere sheet fit into my personal budget.
33:02
Speaker 2: And I was like, oh, I.
33:04
Speaker 4: Feel a bit anxious, and I had to go away,
33:06
Speaker 4: and like I looked up my budget and looked at
33:08
Speaker 4: my bank accounts and made sure i was all comfy
33:10
Speaker 4: and all happy and I'm in the very privileged position
33:12
Speaker 4: where it was all fine. But like even me who's
33:15
Speaker 4: in a fine financial position now was a bit like, oh,
33:18
Speaker 4: that gave me the ick because I never talked about it,
33:22
Speaker 4: Like why would I talk about my personal owner paid
33:23
Speaker 4: it off?
33:24
Speaker 7: Yeah, yeah, that trauma kind of becomes a part of
33:27
Speaker 7: your money story, I.
33:28
Speaker 6: Guess, yeah, exactly.
33:29
Speaker 4: And I don't think we address it for what it
33:30
Speaker 4: actually is, and that that's trauma, and we need to
33:33
Speaker 4: get through that. So I guess, in a roundabout way
33:35
Speaker 4: of answering this question, our answer isn't like do your
33:37
Speaker 4: budget and do your cash flow, which we would recommend
33:39
Speaker 4: to absolutely anyone, But I think you need to have
33:41
Speaker 4: a chat with someone about this situation, about the experience
33:44
Speaker 4: you've been through, because it was genuinely traumatic and you're
33:47
Speaker 4: probably carrying a lot of the weight of that experience
33:50
Speaker 4: that you can probably let go of now.
33:51
Speaker 5: And if you are struggling with anything like that, we'll
33:53
Speaker 5: pop a link in the show notes to Beyond Blue.
33:55
Speaker 5: They're a really fantastic charity who do a lot of
33:57
Speaker 5: work in the mental health space, particularly around depression, anxiety
34:01
Speaker 5: and those kinds of things. They're not for profit and
34:03
Speaker 5: they do fantastic, fantastic work, So if you are struggling,
34:06
Speaker 5: please feel free to reach out to them.
34:08
Speaker 4: Yeah, and our friends at the National Debt Helpline. If
34:10
Speaker 4: you ever feel super stressed about money or you're in
34:13
Speaker 4: a bit of a pickle, please feel free.
34:14
Speaker 2: To pick up the phone and have a chat to them.
34:16
Speaker 4: As we've said before, like it's free financial counseling and
34:18
Speaker 4: they will put you on track to be in the
34:20
Speaker 4: best possible position. But both of those resources the resources
34:24
Speaker 4: that I would personally reach out to if I found
34:26
Speaker 4: that I was finding a little bit overwhelming.
34:28
Speaker 7: Perfect place to end it today, ladies, let's rip into
34:32
Speaker 7: the boring but important stuff.
34:33
Speaker 2: Oh, I can't wait.
34:34
Speaker 1: Gee.
34:35
Speaker 7: The advice chaired on She's on the Money is general
34:37
Speaker 7: in nature and does not consider your individual circumstances. She's
34:41
Speaker 7: on the Money exists purely for educational purposes and should
34:44
Speaker 7: not be relied upon to make an investment or a
34:46
Speaker 7: financial decision. And we promise Victoria divine and She's on
34:50
Speaker 7: the Money are authorized representatives in Focused Securities Australia Proprietary
34:55
Speaker 7: Limited ABN for seven zero nine seven seven nine seven
34:58
Speaker 7: zero or nine as two three six five two three.
35:02
Speaker 7: See you on Monday, guys, See you next week, guys,