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FRIDAY DRINKS: Black Friday, and G and Jess forgot the listener questions · She's On The Money

0:00
Speaker 1: She's on the Money. She's on the Money.
0:23
Speaker 2: Hello, and welcome to She's on the Money, the podcast
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Speaker 2: for millennials who want financial freedom. Welcome back to another
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Speaker 2: one of our Friday Drinks episodes where George, Jess and
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Speaker 2: I celebrate the wins from our community. As we all know,
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Speaker 2: there are a million great money wins and some confessions
0:41
Speaker 2: shared in our group each and every single week, and
0:44
Speaker 2: we're not making it up. We literally talk about this
0:46
Speaker 2: day in and day out. It is one of our
0:48
Speaker 2: favorite parts of the She's on the Money community and
0:51
Speaker 2: being able to talk about it is epic. But the
0:53
Speaker 2: fact that we have an entire episode dedicated to chatting
0:55
Speaker 2: about you guys, is one of our favorite things. So
0:59
Speaker 2: before we jump into it, this week, Georgia is going
1:02
Speaker 2: to bring the money wins from the She's on the
1:03
Speaker 2: Money community. So Georgia, you better buckle up because we
1:07
Speaker 2: are judging how well you've picked. But before we get there,
1:11
Speaker 2: jessic garci what happened on Money Diaries this week?
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Speaker 3: So this week's diarist was a bit of the opposite
1:20
Speaker 3: of Rags to riches. I don't know if riches to
1:22
Speaker 3: rags is the right thing.
1:23
Speaker 2: I see where you're going with it.
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Speaker 3: Yeah, you kind of get you pick up what I'm
1:26
Speaker 3: putting down. She grew up in a really privileged position,
1:28
Speaker 3: and she obviously acknowledged that she had no budget. She
1:33
Speaker 3: didn't have to worry about money at all growing up,
1:35
Speaker 3: which is fantastic. But the downfall of that is as
1:38
Speaker 3: an adult, when she went into the world by herself,
1:41
Speaker 3: she had no money or finance skills or knowledge at all.
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Speaker 3: And she's found herself in a bit of a predicament
1:48
Speaker 3: where when we spoke to her about recording, she had
1:50
Speaker 3: one thousand dollars in her bank account. She said that
1:52
Speaker 3: she really struggled with keeping on top of those finances.
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Speaker 3: And I guess the thing that I really took from
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Speaker 3: that was the fact that no matter how privileged you
2:01
Speaker 3: are growing up, that may not do you any good.
2:04
Speaker 3: You know, if you don't get that education, if your
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Speaker 3: parents aren't teaching you, it doesn't matter if you have
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Speaker 3: a million dollars or one hundred. Those skills are so
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Speaker 3: essential because if you don't know how to manage your money,
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Speaker 3: it can disappear so quickly.
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Speaker 2: Yeah, and what you said just then actually makes a
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Speaker 2: lot of sense. So you said, whether you have like
2:21
Speaker 2: one hundred dollars or a million dollars. To me, that's
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Speaker 2: really relevant because if you can't manage one hundred dollars,
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Speaker 2: you're never going to be able to manage a million dollars.
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Speaker 2: So you have to learn how to budget and cash
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Speaker 2: flow essentially when you don't have anything, because then when
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Speaker 2: wealth grows, you know how to grow it, and you
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Speaker 2: know how to invest it, and you know how to
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Speaker 2: save it and keep it. Whereas if you're able to
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Speaker 2: throw one hundred dollars out the window, I promise you
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Speaker 2: will also throw a million dollars out the window. And
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Speaker 2: you laugh or might be like, Victoria, I'm not going
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Speaker 2: to throw a million dollars out of the window. But
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Speaker 2: do you know how many people win the lotto and
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Speaker 2: then have nothing to show for it twenty four months later?
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Speaker 2: Like it's not actually uncommon to come into lump some
3:00
Speaker 2: of money and then absolutely frittered away. And in saying that,
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Speaker 2: I guess it was just really interesting because so many
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Speaker 2: times we hear stories in money diaries about people having
3:10
Speaker 2: gone through quite challenging childhoods and growing up below the
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Speaker 2: poverty line and it's been really challenging, or you know,
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Speaker 2: going through significant adversity and coming out of it with
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Speaker 2: different money stories. They've changed their entire lives. Sometimes it
3:24
Speaker 2: happens the opposite way, where you've never actually ever had
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Speaker 2: to budget or cash flow or know what it's like,
3:29
Speaker 2: So you end up in a sticky situation. And I mean,
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Speaker 2: this money diary situation wasn't like that, but it was
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Speaker 2: really interesting to say, well, I absolutely had absolutely everything,
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Speaker 2: and now I'm not very good at money. But she's
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Speaker 2: learning and she's doing really well, and I'm really proud
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Speaker 2: of her. But moving on from money diaries, George, what
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Speaker 2: happened on our deep dive this week?
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Speaker 4: So this week it was an exciting one. We spoke
3:53
Speaker 4: all about debt agreements. So basically what I learned is
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Speaker 4: there a step between debt consolidation and bankruptcy essentially, So
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Speaker 4: it's definitely not something that you would go into lightly
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Speaker 4: in a similar way to bankruptcy. Actually, Jess, you were
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Speaker 4: on the bankruptcy Deep Dive episode a few months ago,
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Speaker 4: do you.
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Speaker 2: Remember, Yeah, just as like, no, what's bankruptcy?
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Speaker 3: Was that?
4:17
Speaker 2: Yeah?
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Speaker 4: So it's like it's similar to bankruptcy but not quite.
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Speaker 4: What was your main takeaway feed?
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Speaker 2: So my main takeaway was really understanding what that was. Obviously,
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Speaker 2: I do know what a deat agreement is. I've gone
4:29
Speaker 2: through it a lot. But the main takeaway I would
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Speaker 2: want other people to have is really understanding when it's
4:34
Speaker 2: necessary and when it's maybe not going to be applicable
4:37
Speaker 2: to your situation. Because in some situations, bankruptcy is the
4:41
Speaker 2: right decision, and it's a really hard decision to make,
4:43
Speaker 2: and it's not one we ever want to have to
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Speaker 2: make for ourselves, but it can be really empowering. We've
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Speaker 2: said this before, but when it comes to debt agreements,
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Speaker 2: I think a lot of people, especially if they're in
4:53
Speaker 2: personal debt, just don't know what their options are. They
4:56
Speaker 2: don't know what they can do. They don't know that
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Speaker 2: they can actually consolidate debt together to make it a
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Speaker 2: more manageable payment. But if you are over your head
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Speaker 2: in debt and you actually can't pay off what you owe,
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Speaker 2: a debt agreement can be a really great way of
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Speaker 2: getting out of debt without having to go bankrupt and
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Speaker 2: actually managing it. And yeah, it's a really good option
5:15
Speaker 2: if you're in that situation. And the thing about this
5:19
Speaker 2: topic is, obviously it's not going to quote apply to
5:22
Speaker 2: everybody because hopefully the majority of people aren't going through
5:26
Speaker 2: these situations. But I want you all to be super
5:29
Speaker 2: educated and like know what that is. So if a
5:32
Speaker 2: friend is really struggling with debt, you have the knowledge,
5:35
Speaker 2: the skills, the tools, the resources to go. Hey, George,
5:38
Speaker 2: actually in this situation you need to potentially consider X, Y,
5:42
Speaker 2: and Z. And I think that that's the really empowering
5:45
Speaker 2: part where it might not necessarily apply to your situation,
5:48
Speaker 2: but you best believe it might apply to a friend
5:51
Speaker 2: or a family members or someone that you work with
5:53
Speaker 2: situation and you can actually help them even though that's
5:55
Speaker 2: not your career. You just know which direction they need
5:57
Speaker 2: to go in to get the right advice. And I
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Speaker 2: think that's really special.
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Speaker 4: One hundred percent agree with you there, V, and I
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Speaker 4: feel like that also applies to a lot of our
6:05
Speaker 4: other She's on the money topics, like they might not
6:07
Speaker 4: necessarily impact you individually, but learning about them can help
6:12
Speaker 4: you help a friend or a relative or something like that.
6:14
Speaker 4: Like I think that's what's really cool about our podcast
6:17
Speaker 4: as well.
6:18
Speaker 2: No such thing as being over educated.
6:19
Speaker 5: Oh well that's it, isn't it?
6:20
Speaker 2: Like nobody ever turned around and was like, hey, George,
6:23
Speaker 2: you're way too smart, like tone it down, like that's
6:25
Speaker 2: not a thing. And they do say that, just like
6:28
Speaker 2: hang up on them. We don't want to be their friend. Absolutely,
6:31
Speaker 2: So let's jump straight into the community wins this week.
6:33
Speaker 2: Every single week on a Monday, Jess will post in
6:36
Speaker 2: the community and ask you guys what you have been
6:39
Speaker 2: winning at this week, and by Friday, Georgia will have
6:43
Speaker 2: picked out the ones that she thinks are worthy of
6:46
Speaker 2: being called out on the podcast. All of them are
6:49
Speaker 2: always epic money wins. But George, what were the key
6:52
Speaker 2: highlights this week?
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Speaker 4: Oh, We've got a few, and I must say I'm
6:56
Speaker 4: a little bit nervous jumping into why we have a
6:58
Speaker 4: leadership role in the team. So let's go gently on me.
7:02
Speaker 2: But this is the only episode. We'll go gently on
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Speaker 2: you next.
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Speaker 4: Week, Okay call feel Okay. So our first money win
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Speaker 4: for the week is from a Leisha Kilia Kylisha she
7:14
Speaker 4: crossed a third of Christmas gifts off her list during
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Speaker 4: the sales this weekend and saving a whopping three hundred dollars.
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Speaker 3: Amazing.
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Speaker 2: Oh that's actually a very good, very relevant, very hot
7:26
Speaker 2: right now money in George, I'm liking where you're going
7:29
Speaker 2: with these selections.
7:30
Speaker 4: A good start. Our second one is from Selena. So
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Speaker 4: she used to take her dog to a groomer who
7:36
Speaker 4: charged her around one hundred dollars per group, so expensive exactly.
7:40
Speaker 4: She decided to take matters into her own hands and
7:44
Speaker 4: bought a thirty dollars dog trimming set online, which she
7:47
Speaker 4: used over the weekend and she had stunning results. I'm
7:50
Speaker 4: not sure if you guys saw the picture, but the
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Speaker 4: dog it looks legit.
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Speaker 5: I did.
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Speaker 2: I did, and it was really cute. And you can
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Speaker 2: trim my dog because last time I took my dog
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Speaker 2: to the groomers a lot more than one hundred dollars
8:01
Speaker 2: because of how big she is, and it looked significantly worse.
8:05
Speaker 2: So if you want to open a dog grooming salon,
8:07
Speaker 2: you heard it here. First, she's on the pawny. No,
8:10
Speaker 2: that sounds awful, you know, like poor and money. But
8:16
Speaker 2: it turns out that's that's not the type of content
8:18
Speaker 2: we want to create.
8:20
Speaker 4: We can workshop it later, don't worry, thank you. Shall
8:23
Speaker 4: we move on to Tanika.
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Speaker 5: I would love to take it away. Tanika says, money win.
8:29
Speaker 4: We are consumer debt free after slogging our butts off
8:33
Speaker 4: and throwing everything we had at our debts. My husband
8:36
Speaker 4: and I can officially say that all we have left
8:38
Speaker 4: now is our mortgage. Over the last two years, we've
8:41
Speaker 4: managed to pay off close to eighty K worth of debt,
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Speaker 4: finishing right before Christmas. What a legend massive.
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Speaker 2: Well, that's a massive weight off your shoulders. Like, imagine
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Speaker 2: being in that much debt and they're getting to celebrate
8:52
Speaker 2: being out of it, like I'm celebrating you being out
8:55
Speaker 2: of it. And I can see everybody in group chat
8:57
Speaker 2: right now and their faces we are all very much
9:00
Speaker 2: excited for you.
9:00
Speaker 4: My friend were smiling. Okay, Emma, this one's actually for you,
9:04
Speaker 4: jay Riek. I thought you'd enjoy this one.
9:06
Speaker 2: Jay Rick always gets a money when that's directly I
9:10
Speaker 2: love it.
9:10
Speaker 4: Always look it's not directed, but it inadvertently is. So
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Speaker 4: Emma cleaned out her wardrobe during lockdown, and finally it
9:17
Speaker 4: got around to listing the goods on her local Facebook
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Speaker 4: by sale page and she's already made five hundred dollars
9:24
Speaker 4: with more sales still coming in.
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Speaker 5: And that's just from the weekend gone.
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Speaker 2: Oh my gosh, five hundred dollar rules that does not
9:31
Speaker 2: go astray at Christmas time either. What a good time
9:34
Speaker 2: to pick up some things that you're not using and
9:36
Speaker 2: sell them online.
9:37
Speaker 3: Okay.
9:37
Speaker 4: Our next one here is from Taylor. So she was
9:40
Speaker 4: booking three nights accommodation for a girl's trip in the
9:43
Speaker 4: Hunter Valley.
9:44
Speaker 5: Very nice, very nice.
9:45
Speaker 4: She found a great place on Airbnb. Before going ahead
9:49
Speaker 4: and booking with Airbnb, she decided to look directly through
9:52
Speaker 4: the host's website instead, and she saved five hundred dollars.
9:57
Speaker 2: Ah, I didn't even know it could be that signific different.
10:01
Speaker 5: Well, that's massive, isn't it. That's really big?
10:04
Speaker 2: Yeah?
10:04
Speaker 4: What?
10:05
Speaker 2: I love that for her?
10:06
Speaker 4: Mmmmm. Our sixth and final money win for the week
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Speaker 4: My Girls was from the Lovely Claire, who said she
10:15
Speaker 4: took advantage of our very own Black Friday sale and
10:18
Speaker 4: purchased the Budgeting and cash Flow masterclass for a hot bargain.
10:22
Speaker 2: I've seen a couple of people joining the community over
10:25
Speaker 2: the weekend, and I'm so excited about it, honestly, to
10:28
Speaker 2: know that people are going to join and get their
10:29
Speaker 2: money stuff together. Like I genuinely I'm a bit biased.
10:33
Speaker 2: I genuinely think right now is a really good time
10:35
Speaker 2: to do it as well, because we're all thinking about shopping,
10:38
Speaker 2: and we're all thinking about Black Friday sales and like
10:40
Speaker 2: the click frenzy stuff that's just happened and having to
10:43
Speaker 2: buy presents, Like what a better time to get your
10:46
Speaker 2: money together than now?
10:47
Speaker 5: Precisely?
10:48
Speaker 4: Is it still running me? Because it's Black Friday technically today? Right?
10:51
Speaker 2: Yeah, it's Black Friday technically today, but I'm going to
10:54
Speaker 2: run it over the weekend as well. And we actually
10:56
Speaker 2: started last Friday because when Jess and I were talking
10:59
Speaker 2: about it, we had so many dms from people being like,
11:01
Speaker 2: are you doing a Black Friday sale? It was kind
11:04
Speaker 2: of like, oh, is this a good idea or not?
11:06
Speaker 2: Like we're not really a Black Friday kind of promotional company,
11:09
Speaker 2: but we decided to do it anyway. But our Black
11:11
Speaker 2: Friday Sale has gone on for more than a week,
11:13
Speaker 2: so that people did have time to think about whether
11:15
Speaker 2: they really wanted to do it, or maybe do some
11:17
Speaker 2: more reading on it and actually make a decision that's
11:19
Speaker 2: right for them, because I hate the idea that someone
11:22
Speaker 2: would just buy it because they see that it's discounted
11:24
Speaker 2: and just like get on it asap. I mean, I
11:26
Speaker 2: would love to think you do, but the idea that
11:29
Speaker 2: you'd be pressured into it just because there's a discount.
11:31
Speaker 2: Have a think about it, twenty four hours between you
11:33
Speaker 2: and your spending, and what kind of company would be
11:35
Speaker 2: be if we didn't give you that grace?
11:37
Speaker 5: Yeah? Love it? Is it ninety nine dollars off?
11:40
Speaker 2: It is ninety nine dollar rus off and low key.
11:43
Speaker 2: That discount code also works on the gift cards, so
11:45
Speaker 2: you could like gift it to someone for Christmas.
11:48
Speaker 5: We love, we love genius.
11:50
Speaker 2: Obviously I thought of that idea myself, So I'll just
11:53
Speaker 2: claim that genius title right here and now. All right, George,
11:56
Speaker 2: I reckon you did a pretty good rap, so good
11:59
Speaker 2: in fact, she will invite you back next week to
12:01
Speaker 2: do the money Wednesday.
12:03
Speaker 5: That's a good resont.
12:04
Speaker 2: Yes, did you a great I agree?
12:05
Speaker 3: George killed it. We love it. You can come to
12:08
Speaker 3: my thread anytime.
12:11
Speaker 2: More Black Friday chat right after this quick break. All right,
12:15
Speaker 2: we are back and Georgia, this week, you've been doing
12:18
Speaker 2: some pretty gnarly reading on Black Friday? Is that right?
12:21
Speaker 1: Look?
12:22
Speaker 5: I wouldn't call it gnali reading.
12:23
Speaker 2: Oh I thought that was a cunkied way of introducing
12:26
Speaker 2: this segment, But all right, no.
12:29
Speaker 5: I loved it.
12:30
Speaker 4: I appreciate that myself making me feel at home. So
12:33
Speaker 4: obviously today is Black Friday. And I noticed in the
12:38
Speaker 4: Facebook group a few days ago Sarah posted saying, is
12:41
Speaker 4: anyone else feeling really overwhelmed with Black Friday sales? I
12:45
Speaker 4: feel like retailers make you feel like you need to
12:47
Speaker 4: buy everything because it's on sale. I feel like we
12:51
Speaker 4: can all relate to that. I know my adms, like
12:53
Speaker 4: my emails at the moment are flooded with marketing edms
12:57
Speaker 4: telling me that it's Black Friday, and I got it,
12:58
Speaker 4: bye bye bye, and I was.
12:59
Speaker 5: Like, is it Black Friday?
13:01
Speaker 4: Like this was like a week ago, so it's been
13:02
Speaker 4: going on for some time. But there are also some
13:05
Speaker 4: stats on this, so for anybody who doesn't know, Black
13:08
Speaker 4: Friday is essentially the American version of Boxing Day, so
13:13
Speaker 4: it's Thanksgiving over in America. It was yesterday and today
13:16
Speaker 4: it's Black Friday, so there are sales across the board.
13:19
Speaker 4: On Monday, we'll have Cyber Monday. I did just want
13:22
Speaker 4: to rattle through a few stats before I ask you
13:24
Speaker 4: girls about your opinions in general on Black Friday.
13:27
Speaker 5: Just have a lot of.
13:28
Speaker 2: Opinions, so probably good people to ask.
13:32
Speaker 4: Ideally, so some recent research found that thirty five percent
13:39
Speaker 4: of Australians will be shopping today as well as Cyber Monday.
13:44
Speaker 5: So that's six point.
13:44
Speaker 4: Eight million of US and we will be spending three
13:47
Speaker 4: point eight billion dollars on clothes, beauty, gadgets and travel
13:52
Speaker 4: like just today and Monday. Yeah, so over the next
13:56
Speaker 4: four days, I guess the sales kind of run well.
13:59
Speaker 4: They do to have run earlier, as I said before,
14:01
Speaker 4: for the last week or so until this Monday, but
14:04
Speaker 4: that is a lot of money.
14:05
Speaker 2: Look I like that they're running a bit earlier. I
14:07
Speaker 2: don't know if other people are going to agree with me,
14:10
Speaker 2: but I feel like I too have been bombarded with
14:13
Speaker 2: Black Friday sales. It's all over my Instagram, it's all
14:15
Speaker 2: over Facebook, it's all in my emails, like everybody wants
14:18
Speaker 2: me to buy. But I think because it started so
14:21
Speaker 2: early this year, I've been a little bit more wary
14:24
Speaker 2: of it. It wasn't like previous years, and maybe I've
14:26
Speaker 2: just got my head in the sand about this, but
14:28
Speaker 2: it wasn't like previous years where I woke up and
14:29
Speaker 2: I'm like, oh my gosh, it's like Friday. You're right,
14:31
Speaker 2: I should check out the deals like people have been
14:33
Speaker 2: coming out with them earlier, so I've been like, Oh,
14:36
Speaker 2: what do I need to buy for Christmas? Or Oh,
14:38
Speaker 2: what do I need to organize for XYZ? Which I've
14:41
Speaker 2: found really helpful. But I can also see that extending
14:45
Speaker 2: for people who maybe aren't as good at budgeting cash
14:48
Speaker 2: flow into an entire week of shopping and making sure
14:51
Speaker 2: they didn't miss out on things. Like it's like good
14:54
Speaker 2: and bad at the same time.
14:56
Speaker 3: Hey, yeah, I feel like the upside of it is
14:59
Speaker 3: it gives you the opportunity to obviously snag a deal,
15:02
Speaker 3: which we all love, and I feel like it's towing
15:05
Speaker 3: that fine line of making sure that you are making
15:09
Speaker 3: purchases that align either with your values or are aligned
15:14
Speaker 3: with the gifts that you are planning on giving. So
15:16
Speaker 3: if you can avoid being sucked into the temptation of,
15:20
Speaker 3: oh my gosh, it's thirty percent off, so I might
15:22
Speaker 3: as well just buy it, it's a really great way
15:25
Speaker 3: to save some money on your Christmas shopping because we're
15:28
Speaker 3: you know, it's that time of year we're thinking about
15:30
Speaker 3: our gifts. You should have your list and have checked
15:32
Speaker 3: it twice and be ready to like get some bargains.
15:35
Speaker 2: Oh that was really funny.
15:39
Speaker 3: No, but I think it can be really a really
15:42
Speaker 3: fantastic tool if you are able to avoid I guess
15:45
Speaker 3: that mentality.
15:47
Speaker 2: And I think that's a really smart thing to say,
15:49
Speaker 2: because hopefully you're listening to this on Friday morning. It
15:52
Speaker 2: is the morning of Black Friday and all of the creatures. No,
15:56
Speaker 2: that's the other morning of Christmas. I thought I was
16:00
Speaker 2: going to be really funny there, and I'm not. I
16:02
Speaker 2: really need to just stop trying to be funny. But
16:05
Speaker 2: it's the morning of Black Friday and you guys are
16:07
Speaker 2: waking up. Hopefully you're now going Actually, I'm going to
16:10
Speaker 2: put my smart hat on. Do I need to buy anything?
16:13
Speaker 2: Like do I need to get Jess a birthday present
16:15
Speaker 2: or a Christmas present soon that I could, you know,
16:17
Speaker 2: actually just get now and save some money on I
16:19
Speaker 2: think it's about being smart. But just because it's on
16:22
Speaker 2: sale doesn't mean it's a good deal. Absolutely, I think
16:25
Speaker 2: we need to have that mantra going throughout this entire
16:29
Speaker 2: sale period because we're also going to be bombarded really
16:32
Speaker 2: soon with the Boxing day sales and they nowadays extend
16:35
Speaker 2: way past Boxing Day or I've found them too. So
16:39
Speaker 2: from my point, of view. I think we really need
16:41
Speaker 2: to be putting our thinking hats on and going all right,
16:43
Speaker 2: how do I use this to my advantage? How do
16:45
Speaker 2: I plan instead of putting ourselves in positions where we're like,
16:49
Speaker 2: oh my god, I bought it because it was cheap
16:50
Speaker 2: and I didn't even need it. So if you're one
16:52
Speaker 2: of those trigger happy people that does that, can you
16:55
Speaker 2: please do me a favor and double check the returns
16:57
Speaker 2: policies during the sale period. If it cannot be returned,
17:01
Speaker 2: triple think that purchase and if it can be go okay,
17:06
Speaker 2: Why am I checking the returns policy? Is it because
17:09
Speaker 2: I don't need it?
17:10
Speaker 5: Definitely?
17:11
Speaker 4: Hey, which generation are we guys? Because I've got a
17:13
Speaker 4: breakdown of who spends what are we? Gen X, gen Y, GenZ?
17:18
Speaker 2: So we're millennials. You're not gen X. If you were
17:20
Speaker 2: a gen X, Georgie would have been born between the
17:22
Speaker 2: sixties and the eighties, which I guarantee you you are not.
17:26
Speaker 2: Millennials are born up until I think it was the
17:29
Speaker 2: two thousands, and then anything after the two thousands is
17:32
Speaker 2: gen Z and they're the cool kids, like they're the
17:34
Speaker 2: ones that run TikTok okay.
17:36
Speaker 5: So wait, wait, we're gen Y.
17:37
Speaker 2: We are gen Y.
17:38
Speaker 4: Okay, so just clarifying for the eighth time. Okay, So
17:41
Speaker 4: a little breakdown of who is spending what. So the
17:45
Speaker 4: baby boomers, yeah, are they our grandparents? The baby boomers
17:49
Speaker 4: were born between the nineteen forties and the nineteen sixties,
17:52
Speaker 4: so okay, my parent's apologies, Eric and Judi. So they're
17:58
Speaker 4: spending two hundred ninety dollars, which.
18:01
Speaker 2: Is quite a bit. Do we know what they're spending
18:03
Speaker 2: it on?
18:04
Speaker 4: We we do, and I'm going to get to that,
18:06
Speaker 4: don't you want?
18:06
Speaker 2: Okay? Sorry, sorry, I'm jumping in.
18:08
Speaker 4: So the gen x's are spending four hundred and fifty seven,
18:12
Speaker 4: so a big jump up.
18:14
Speaker 2: They've got more money than us as well.
18:15
Speaker 5: George, that's true, that's true.
18:18
Speaker 4: That makes sense, gen Y, So that is us. We're
18:21
Speaker 4: spending four hundred and twenty one dollars. It's a little
18:24
Speaker 4: bit less because we have less money. I like it, Yeah,
18:28
Speaker 4: gen Z. The techno kids, oh god, they're spending three
18:33
Speaker 4: hundred and thirty nine dollars. So I don't know if
18:36
Speaker 4: that's interesting.
18:37
Speaker 2: I don't know if it's interesting, but I feel like
18:40
Speaker 2: they're good stats. But gee, how much would you spend
18:43
Speaker 2: during Black Friday sales.
18:46
Speaker 4: Well, I won't be spending anything on myself, but if
18:50
Speaker 4: I am wise, I'll get my act together and make
18:53
Speaker 4: the purchases for my family that I'm planning.
18:56
Speaker 2: But I'm not.
18:57
Speaker 4: I don't feel that organized this year. I have not
18:59
Speaker 4: been taking my own advice. So I need to like
19:02
Speaker 4: sit down and think about it, and I'll try and
19:05
Speaker 4: spend a little bit. But how about you, guys, what
19:08
Speaker 4: do you think you'll spend?
19:09
Speaker 2: I feel like talking to the sheese on the Money
19:11
Speaker 2: team is like the worst idea when it comes to like,
19:14
Speaker 2: how are you planning on spending your money? Because we
19:15
Speaker 2: all have spreadsheets, we all have budgets. We're all like, oh,
19:19
Speaker 2: so what's your cash flow look like this week? Like,
19:21
Speaker 2: I'm not intending on purchasing anything for myself. Hopefully again,
19:25
Speaker 2: I can pick up a few more presents. But the
19:28
Speaker 2: thing with presents and I is that I've got everything
19:31
Speaker 2: I can think of at the moment for people, and
19:33
Speaker 2: then there's a few outstanding people that I'm still like,
19:36
Speaker 2: what do I get them? So even though the sales
19:38
Speaker 2: are on, I have literally no idea what I'm going
19:41
Speaker 2: to order them. So I want to make use of
19:43
Speaker 2: the sales, but I also don't want to like pressure
19:45
Speaker 2: buy something that isn't going to be the right presence.
19:47
Speaker 2: So rock in a hard place for me, exactly how
19:50
Speaker 2: are you managing the sales? Good I have.
19:53
Speaker 3: There's a few things that I've been wanting to purchase
19:55
Speaker 3: for the last like month or so that I've held
19:57
Speaker 3: off on in the hopes that they will go and sale.
20:01
Speaker 3: Don't know that they will or not, but I just
20:03
Speaker 3: kind of figured, knowing that Black Friday was coming, I
20:05
Speaker 3: might as well wait and hope for the best. So
20:08
Speaker 3: I reckon I will probably be pretty close to our area,
20:11
Speaker 3: just because there's a couple of tech items that I
20:13
Speaker 3: want to pick up. And then I have a few.
20:15
Speaker 2: Critic items you see gen Z.
20:19
Speaker 3: Yeah I wish I was as school as gen Z.
20:21
Speaker 2: I'm definitely not.
20:23
Speaker 3: But yeah, there's just a few bits and pieces that
20:25
Speaker 3: I have been wanting for me or forgive to other people.
20:27
Speaker 3: Like I've compiled my list and I've had it for
20:29
Speaker 3: a very long time, and I've just kind of been
20:31
Speaker 3: waiting to see what the best deal I can get is.
20:34
Speaker 3: And I plan on kind of shopping around on a
20:36
Speaker 3: few different sites using my shop back doing all those
20:39
Speaker 3: things to make sure that I'm getting the biggest saving
20:42
Speaker 3: that I possibly can because I am both poor and cheap.
20:45
Speaker 2: Yeah, okay, that's really good. Did you know that Black
20:48
Speaker 2: Friday actually only started to exist in nineteen ninety six
20:52
Speaker 2: when we were or when I was five years old.
20:55
Speaker 3: That doesn't surprise me.
20:56
Speaker 4: Well, it's like a tech to bring tech back into it.
20:59
Speaker 4: It's like a tech related thing. Isn't it like it's
21:01
Speaker 4: an internet sale.
21:03
Speaker 3: No, it's an in store have you seen it started
21:06
Speaker 3: in the US? And so they do it. They all
21:09
Speaker 3: sit down after like they have their dinner, and then
21:12
Speaker 3: the shops open at like midnight, so it's like an
21:15
Speaker 3: overnight sale.
21:16
Speaker 2: And that used to be overnight. Yeah, overnight. It's like hectic.
21:20
Speaker 2: There's these videos on.
21:21
Speaker 3: YouTube if anyone ever went through the beauty blogger days,
21:24
Speaker 3: on YouTube, people would literally have their dinner with their
21:26
Speaker 3: families and then film them going Black Friday shopping and
21:29
Speaker 3: they post these videos at like six am with these
21:32
Speaker 3: huge bags because these shopping centers are packed with people
21:35
Speaker 3: who have been whipped into.
21:38
Speaker 2: YouTube, and they're like carrying TVs out and stuff.
21:41
Speaker 3: Is that it's crazy, like people pushing people out of
21:44
Speaker 3: the way, like, and I guess now that you know
21:46
Speaker 3: we've got COVID safe practices and stuff, it might look
21:49
Speaker 3: quite different this year.
21:50
Speaker 5: It looks different, But it doesn't.
21:51
Speaker 3: Surprise me that it started so recently, because for what
21:55
Speaker 3: I can see, it was it's genuinely just aimed at
21:59
Speaker 3: generating revenue and encouraging people to buy. And I think,
22:03
Speaker 3: particularly in the US, it's like these one day sales,
22:06
Speaker 3: like you can only get it on this one day,
22:08
Speaker 3: and so it's kind of nice that here those sales
22:11
Speaker 3: have extended because it allows people to shop a little
22:14
Speaker 3: bit more mindfully rather than getting caught up in that frenzy.
22:17
Speaker 2: I agree, the idea of frenzied shopping genuinely makes me
22:21
Speaker 2: feel really icky, Like the idea that people would go
22:25
Speaker 2: out not knowing what they're going to come home with
22:27
Speaker 2: or not knowing what they're going to purchase really just
22:30
Speaker 2: makes me stressed that they don't have good cash flow
22:33
Speaker 2: systems in place. And I'm not saying don't buy stuff,
22:36
Speaker 2: like please, don't get me wrong. Someone the other day
22:39
Speaker 2: messaged me on Instagram and they're like, I bet you
22:41
Speaker 2: never buy anything new, and I was like, no, totally,
22:43
Speaker 2: I do like ask Jess. Like we get packages in
22:46
Speaker 2: the office all the time, but if I'm ordering something
22:50
Speaker 2: or buying something, it's literally because I've planned it. It's
22:53
Speaker 2: in my budget, it's a part of my cash flow.
22:55
Speaker 2: It's not me going, oh I'm trigger happy, or I'm
22:58
Speaker 2: just going to go shopping. I'll head to Chadsden and
23:01
Speaker 2: I'll have spent three or four hundred dollars. Like to me,
23:03
Speaker 2: that's not what I do. I work out what I
23:07
Speaker 2: want to purchase, and I may go, hey, Jess, do
23:08
Speaker 2: you want to go shopping? Like I really want a
23:10
Speaker 2: new linen shirt, and I'm going for a particular item,
23:14
Speaker 2: But I don't go with no intention, if that makes
23:17
Speaker 2: any sense. But I feel like historically that wasn't my
23:21
Speaker 2: mentality at all. Like I remember when I was much
23:24
Speaker 2: much younger, Boxing day sales were so cool, like when
23:28
Speaker 2: I was like in late primary school, early secondary school.
23:31
Speaker 2: I just feel like I feel like they've potentially changed
23:35
Speaker 2: and become less exciting. Is that me getting old or
23:39
Speaker 2: is that actually true?
23:40
Speaker 3: Guys, I feel like the sales have also potentially declined.
23:44
Speaker 3: I don't know again if that's because I was younger
23:46
Speaker 3: and my perception of them was different. But like now
23:49
Speaker 3: the Boxing day sales really don't seem like they're anything crazy,
23:53
Speaker 3: and they don't seem any more unique than what we
23:55
Speaker 3: see it Black Friday or in the lead up to Christmas. Yeah,
23:58
Speaker 3: it just doesn't seem like it's worthy, no.
24:01
Speaker 4: I think as well, Like who can actually be bothered
24:03
Speaker 4: going to the stores anymore? Especially on Boxing Day you
24:07
Speaker 4: hung over from a big crissy, like it's usually sweltering outside,
24:11
Speaker 4: it's like forty degrees. We're not going to the stores.
24:13
Speaker 4: We're just doing that online, Like it's just not a
24:15
Speaker 4: big deal anymore.
24:17
Speaker 2: Yeah, And I feel like online you can always find
24:19
Speaker 2: a better deal anyway if you're looking for something, in particular,
24:22
Speaker 2: because we now have access I guess to the Globe
24:25
Speaker 2: as opposed to just chadsten or just you know, Bond dijunction.
24:29
Speaker 2: It's not as though we're just going to go head
24:31
Speaker 2: down to our local mayre and hope that missshops on sale,
24:34
Speaker 2: Whereas that's what I was doing at thirteen, and I
24:36
Speaker 2: was so excited, Like I remember we would go shopping
24:39
Speaker 2: and Mum would be like, okay, cool, like we need
24:41
Speaker 2: to get you some summer stuff anyway, Like let's do it.
24:43
Speaker 2: Today and it would always be so fun. But yeah,
24:46
Speaker 2: it's definitely not the same anymore. The other thing I'm
24:49
Speaker 2: noticing about sales in comparison to what they used to
24:53
Speaker 2: be is for US, Boxing Day was like the sale,
24:56
Speaker 2: whereas now we've got like Halloween sales and Black Friday sales,
25:00
Speaker 2: And I genuinely feel like American culture is starting to
25:04
Speaker 2: infiltrate the way that we buy in Australia, which is
25:08
Speaker 2: awesome because I always used to think that I missed
25:10
Speaker 2: out on Halloween, But also like, why are we adopting
25:14
Speaker 2: these things that they're doing. Is it just sales? Is
25:17
Speaker 2: it you know, companies going this is a really great
25:20
Speaker 2: marketing strategy or do you think we're just becoming more global?
25:23
Speaker 3: I'm really skeptical, but I'm going to go the second option.
25:26
Speaker 3: I think it's all about the profit for businesses, especially
25:29
Speaker 3: off the back of COVID with shops being closed for
25:31
Speaker 3: months at a time, I think that they really just
25:33
Speaker 3: want to get people in their doors spending their money.
25:36
Speaker 2: Yeah, I agree. I just feel like all of these
25:38
Speaker 2: things are not really ours, if that makes sense. Like
25:42
Speaker 2: we've got Boxing Day, let us have Boxing Day sales?
25:44
Speaker 2: Like why do we need Black Friday, Cyber Monday, all
25:47
Speaker 2: of these other sales. I feel like I'm going down
25:50
Speaker 2: a negative pathway, but I'm not. I just really like
25:52
Speaker 2: understanding the psychology behind how everybody works and what drives
25:57
Speaker 2: marketing and what drives consumer decisions and why we make
26:00
Speaker 2: decisions around our money the way we make them. But
26:02
Speaker 2: I'm not. Black Friday is actually, I guess, from our perspective,
26:06
Speaker 2: really exciting because it means that we can probably get
26:08
Speaker 2: some creazy presents on sale or prepare ourselves or I
26:11
Speaker 2: know I'm going to be buying some new knickers because
26:13
Speaker 2: they're going to all be on sale. And I refuse
26:15
Speaker 2: to pay full price for bonds. Guys just refuse, like
26:19
Speaker 2: flat out, it's not happening. They go on sale, it's happening.
26:22
Speaker 2: So I think the main call to action for us
26:24
Speaker 2: is actually to just be prepared. And we've done episodes
26:27
Speaker 2: historically on how to prepare for sales and what that
26:29
Speaker 2: actually means, and how to spend in line with your
26:31
Speaker 2: values and what your actual goals are. So I think
26:34
Speaker 2: just being really clear on how you want to spend
26:36
Speaker 2: and what you want to spend is fine and not
26:38
Speaker 2: going Oh, I hate sale periods like that's not the
26:41
Speaker 2: case at all. We just need to know how to
26:43
Speaker 2: tackle them and have the right tools and resources at
26:45
Speaker 2: our disposal to make sure that we're making the most
26:47
Speaker 2: of them, not being made fools by them.
26:50
Speaker 3: I completely agree, and if you do need a little
26:52
Speaker 3: bit of help prepping yourself mentally for the sales, you
26:54
Speaker 3: guys did a really great ap around this time last
26:57
Speaker 3: year on navigating sales like a pro, which is well
26:59
Speaker 3: worth listen. But I think it's time to wrap up
27:02
Speaker 3: because George, you and I may have stuffed up slightly.
27:07
Speaker 2: Just start up. Where's our listener question?
27:10
Speaker 3: A little bit of a miscommunication on the listener question.
27:13
Speaker 3: We didn't call out for one and also didn't find
27:16
Speaker 3: one so in the future, so I don't look like
27:19
Speaker 3: an accomplishment. More on, Please send your listener questions as
27:22
Speaker 3: an audio recording to podcasts at She's on the Money
27:24
Speaker 3: dot com dot a. You we love answering them. I
27:27
Speaker 3: think this was a really fun thing to bring back.
27:29
Speaker 3: It gives me very nostalgic og s OTM vibes. I
27:32
Speaker 3: don't know if anyone else feels.
27:33
Speaker 2: The same way that, guys, so come on, you could
27:36
Speaker 2: have at least made one up. Yeah, tea, we are.
27:38
Speaker 2: You're both like sorry, we're live on the pod. We
27:41
Speaker 2: also don't have that. Instead of being like, oh said this,
27:47
Speaker 2: come on guys anyway, well Schmiktoria from Schmeshika and she says,
27:54
Speaker 2: how do I buy things? But I think that that's
27:57
Speaker 2: a good place to leave it if you guys haven't
27:59
Speaker 2: done the rest of your jobs. So as always, just
28:02
Speaker 2: before we head off, we'd like to acknowledge and pay
28:04
Speaker 2: respect to Australia's Aboriginal and Torris Straat islander peoples. They're
28:08
Speaker 2: the traditional custodians of the lands, the waterways and the
28:11
Speaker 2: skies all across Australia. We thank you for sharing and
28:15
Speaker 2: for caring for the land on which we are able
28:17
Speaker 2: to learn. We pay respects to elders past and present,
28:20
Speaker 2: and we share our friendship and our kindness.
28:23
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28:26
Speaker 4: the Money is generally in nature and does not consider
28:28
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28:32
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28:52
Speaker 2: See you next week, guys.
28:54
Speaker 5: Bye bye guys.
29:00
Speaker 3: He sa