Latest / The Curve / RTC124: Celebrating 200 episodes!

Transcript

RTC124: Celebrating 200 episodes! · The Curve

0:00
Welcome to Raising the Curth, a podcast designed to teach you everything you need to know
0:05
to be better with your money.
0:07
And the wise words of Amy Schumer were slipping carrots into the brownie recipe.
0:11
I don't really get the saying.
0:13
It's kind of like eating vegetables that actually taste good.
0:17
You know, I'm like, I'm still not ready to eat.
0:19
Are you on the script?
0:20
It's basically like saying, investing in finance can be boring, but it totally doesn't
0:26
need to be.
0:27
OK, OK, so we're making it fun by putting the carrot.
0:31
OK, the vegetables are good for you.
0:33
It's the brownie recipe.
0:34
OK, we got there, we got there.
0:36
OK, OK.
0:36
Well, you've really got a finance, right?
0:38
Yeah, one of us has to.
0:40
This is true.
0:41
OK, come and learn alongside me from Vick Harris, ex-fun manager.
0:45
Well, I'm going to ask all the questions that you wish you could.
0:48
And I'm going to be eating all the brownie you wish you could.
0:50
No, that's so not the joke, Vick.
0:53
Oh, OK, just come and talk and learn and laugh with us.
0:56
Because together, we really can raise the curve.
1:00
Before we get started, just wanted to say, this episode, arguably,
1:05
not our most researched ground-breaking, financial tip-filled episode is it, Vick?
1:13
But please, please don't press pause.
1:15
Please don't disappear.
1:16
It will be fun.
1:17
It will be interesting.
1:18
We go on going to have a time warp back to the beginning of a curve.
1:23
I loved that song and I know what you're going with that.
1:25
And I appreciate that you didn't actually sing this song.
1:27
Yeah, no one wants to hear me sing.
1:28
No.
1:29
But we wanted to share some insights around where the curve as a company has been
1:34
because there's been some massive milestones for us in the last few months.
1:37
Yeah, and just reflect on some of the earlier, not only like episodes within the podcast,
1:42
this is our 200th episodes.
1:44
We were like, let's get a bit reflective.
1:46
And if you're like, do you know what?
1:48
I'm here for a finance lesson.
1:50
Maybe I'm not that interested.
1:52
We're not offended.
1:52
Well, maybe there is a finance lesson in the end.
1:55
Oh, who knows?
1:56
Oh, my God.
1:57
Yeah, you're going to have to listen to the whole thing.
2:01
I reckon if you had told me when we started that we would be at our 200th episodes,
2:08
outrageous, or that we would even do 200 episodes.
2:11
I would have been like, I would have just been like shut up.
2:13
You didn't even really want to do a podcast in general.
2:15
It's so funny when we tell the story of the curve and I'm like,
2:19
yeah, and so for like, oh, it's for podcasts.
2:21
I was like, who listens to podcasts?
2:23
Yeah, I thought this episode might be one.
2:26
Well, and saying that, I mean, the podcast has been going against like three and a half years now.
2:31
And no, two and a half, really?
2:34
October, 2021.
2:36
So yeah, in a couple of months, it will be three years.
2:38
Early three years.
2:39
That's ages.
2:40
No, okay.
2:41
So basically, when I was planning this episode, I was going through heaps of old episodes
2:44
because I think there will be...
2:46
Is this when you were planning this episode five minutes ago?
2:49
Or is this...
2:50
It's been a busy week, okay?
2:52
Like, we've just hired three full-time employees at the curve.
2:56
We're about to launch the World's biggest investing club.
2:59
We have the money reset course about to start.
3:02
Like, it has been...
3:03
You know, we're just closing our first invest-arounds.
3:06
Oh, yeah, how did I forget something important?
3:08
Sorry.
3:11
No, there's been lots going on behind the scenes.
3:13
And we thought it could be kind of a cool opportunity to let...
3:16
I guess people who have listened to the podcast for a while
3:19
or gone back to earlier episodes
3:20
and on what's actually happening from a business and personal perspective for us
3:25
as well as just celebrate some bloody milestones, you know?
3:29
Do you know when I have people come up to me, me saying that like,
3:33
I have this all the time,
3:33
but when people come up to me and they're like,
3:36
Oh, my gosh.
3:37
Love the care we've been listening from day one.
3:39
Like, or I just went back and started with your earlier episodes.
3:42
I'm a new, new follower.
3:44
I kind of die a little bit.
3:47
Isn't your embarrassed?
3:48
You're excited.
3:49
I'm embarrassed.
3:50
I'm like...
3:51
Because, like, I'm not saying that I'm amazing now,
3:53
but I was terrible back then.
3:55
It's like when you go look back at your Instagram
3:57
and it's like all the real cringe captions that you put like three years ago
4:01
and it's like throwback this day and like, oh...
4:04
No, what I noticed going through some of this content, like the old episodes,
4:08
actually is how much you have evolved in the way that you educate
4:12
and speak about money and investing.
4:14
Like, I was listening to some of the ways you were explaining, like...
4:17
You used to say things like, you know, for example, sub two years
4:20
and I would be like, what do you mean sub two years?
4:25
Like, the chat was so professional.
4:28
It was, for me, listening back to like, for example,
4:31
one of our most listened to episodes.
4:32
So if you are a new listening or you haven't gone back and bingeed
4:36
all of the early episodes,
4:37
the second one we ever put out was starting with
4:39
Finance and Investing Basics.
4:41
And this was literally our second podcast ever.
4:44
It's had over 10,000 listens, which is enormous.
4:47
And I was like, listing out what we speak about
4:49
and it's like, risk in return.
4:51
Which now I know is like the amount that you make
4:56
and trying to, you know, minimize what you could lose
4:59
by investing in something that goes down.
5:01
But even like the idea of compound interest and the idea that
5:04
it's literally just you have to keep your money in there for longer.
5:06
Like, that is the biggest secret.
5:08
Or the different asset class.
5:10
Like, I felt emotional listening to those early episodes
5:15
and hearing myself asking those questions.
5:18
And I'm not professing this by saying because you might go,
5:20
you might not have listened to that episode or some of those
5:23
earlier ones and you might be new to listing.
5:25
So that's no shame if you don't know any of that stuff.
5:28
But I just cannot believe how ignorant I was
5:33
and how little I knew like it blows my mind.
5:37
Anyway, let's just like play a little bit of that now.
5:41
There's companies that are way more risky than others.
5:43
A supermarket, for example, you know,
5:45
a pretty kind of defensive.
5:48
People are going to continue to shop at a supermarket.
5:50
Everyone needs toilet paper.
5:51
Exactly.
5:51
Exactly.
5:52
It's a staple, it's necessity versus the likes of kind of a
5:55
biotech company where the uncertainty of a drug becoming
5:59
successful, you know, we have no insight into that.
6:04
And you know, even the company itself might not so
6:07
investing in like a biotech company, for example,
6:10
the uncertainty around that is high,
6:14
but the payoff could be significant.
6:16
The return you get if that drug is successful could be
6:20
significant.
6:21
And that's even vested in the company that came up with the
6:24
COVID vaccine.
6:25
Yeah, yeah, versus a supermarket where you're probably just
6:29
going to, you know, your returns are going to chug along.
6:31
You're probably going to get maybe five percent return
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depending on what supermarket.
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But there's less, there's some certainty.
6:38
So therefore your return is low because your risk is lower.
6:41
So it completely depends on what you invest in.
6:43
But yeah, you use high return means high, high risk.
6:47
I feel like I've come up with a really good example in case
6:51
people are still not sure what you're talking about.
6:53
If you go to the horse racing, which I hope not that many
6:56
people do anymore, but say you bet on horses and you're
6:59
betting on like misty star, who's one of 10 years in a row.
7:02
Or are you bet on, I don't know, floppy Joe, who's never
7:06
won a race in his life.
7:07
A floppy Joe wins.
7:09
floppy Joe.
7:10
But say he wins.
7:12
And there's probably very few people who would have bet it
7:14
on him, right?
7:15
So then if he actually wins, you have way more, there's way
7:19
more pool of money to share in there.
7:20
For it's going to be a higher award, right?
7:22
Rather than just going for like the safe option.
7:24
You're pay off all the odds of floppy Joe winning.
7:29
I should have thought of selling it.
7:31
Yeah, it's not on people's radar.
7:33
They're not thinking about it.
7:34
Therefore, when he does win, the return's way greater,
7:38
rather than everyone kind of piling into misty star.
7:41
Misty star, I'm glad you remembered their name.
7:43
Yeah, I know.
7:46
Oh, my eye.
7:47
I'm like embarrassed for younger me.
7:52
It also makes me worried like in three years time,
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I'm going to look back on what I'm saying now and be like,
7:56
oh gosh, you know, I think you just keep growing and iterating
7:59
and getting better and, but gosh, sorry.
8:02
I don't think apologize.
8:04
Actually, what I wanted to highlight is a couple of these
8:07
episodes that are the most listened to, they're the most
8:09
listened to for a reason because people need the basics.
8:11
So I wanted to just say if you have listened to ages
8:14
and you're like, yeah, yeah, I get investing.
8:16
I get all that stuff, but you have friends or family or
8:19
people you know that haven't heard the secret of investing
8:22
and being better with money and the fact that this is not just
8:25
for guys, actually, girls can be really great investing too.
8:28
Then send some of those earlier episodes to friends,
8:32
to family, to your mom, because I think that,
8:36
yeah, you sometimes forget how far you come learning.
8:38
And that's definitely what I realized listening to some
8:40
of those earlier episodes.
8:42
My wish to do a revamped back to basics, you know,
8:45
a new and improved.
8:46
It's actually a really good idea.
8:48
Yeah, love that.
8:49
I can't even remember what I said in those.
8:51
I can.
8:52
But it'd be quite funny if you were like, okay,
8:54
explain risk now.
8:56
And then how I explained it then.
8:58
I think it'd be like, it's so much more confusing.
9:00
So, okay, I'm actually going to play you.
9:02
So this is a snippet from the third episode,
9:05
where you're trying to explain the different asset classes.
9:08
Like, as in stocks, bonds, blah, blah, blah.
9:12
I'm just going to play it.
9:14
But in terms of the risk return spectrum,
9:16
that we're kind of talking about with these asset classes,
9:18
that you've got cash on the lift,
9:20
then you've got bonds, then you've got property,
9:22
and then you've got shares on the right hand side.
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I mean, we could talk for hours on this part.
9:27
The most risky, but the highest return
9:30
out of these four different asset classes
9:32
would be stocks.
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And when I say stocks, I mean shares, stocks, equities,
9:37
whatever you want to call it,
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people talk about all these different terms,
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but they just mean the same thing.
9:41
So a stock, a share, an equity,
9:44
owning a tiny part of a company, right?
9:46
It's all the same thing.
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It's just a different name.
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And it effectively means you're a tiny shareholder
9:52
in a company.
9:53
So you share in the growth of those profits.
9:56
You're part owner of a company,
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which may seem weird.
10:00
You're like, a bank shares in Apple,
10:01
but does that make me, do I own Apple?
10:04
Well, you do.
10:05
You are a part, you and a billion other people,
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but you own a part share of Apple.
10:11
And so you want to make sure that when you're
10:13
investing in shares,
10:14
you're investing in a company that's going to grow.
10:17
Something you believe in,
10:18
whether it's totally something that you can see
10:21
those profits are going to grow
10:22
because that's what you're going to be.
10:24
Sharing in the success of.
10:25
Exactly.
10:26
Yeah.
10:27
I love the way you explain that,
10:28
that you're sharing in the profits of something.
10:30
It makes sense why you own it
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and therefore you're sharing in the money that they also make.
10:35
Yeah, and something maybe a bit closer to home.
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It's like if you invested in your friends,
10:40
fashion label, you were investing in them
10:43
because you could see it would,
10:44
you could see the success it's going to have.
10:46
You believe in that success and the profits
10:48
that are going to come from that.
10:50
And you want to be a part of that story.
10:51
And that's effectively what everyone's doing
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every day in the stock market.
10:56
They're investing in companies.
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They believe will grow in that they can share in those profits.
11:00
You can also start investing with nothing.
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Like you don't need.
11:03
You do five dollars towards something.
11:05
Totally.
11:06
Whereas investing in property,
11:07
you need like 200,000.
11:08
And it's like,
11:08
it's crazy.
11:09
That's like pretty unobtainable for a lot of people.
11:11
So the fact that you can invest,
11:13
you can be a shareholder for,
11:15
yeah, as little as $5, $10, $50.
11:18
It's pretty cool.
11:19
But then I guess you're right in terms of the vertality
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that you can also lose all of that immediately.
11:24
So that's why it's the riskier.
11:26
That's why it's the riskier.
11:27
It's because coming back to that liquidity argument
11:29
with shares that they're priced daily,
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that they move up and down.
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Sometimes a lot,
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like if we looked at what happened at COVID
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when the market fell 30%.
11:38
You know, a lot of people,
11:40
well, that's a huge loss for a lot of people.
11:42
And that's the risk you're kind of taking
11:45
when you're investing in stocks is that you can lose kind
11:49
of a hundred percent.
11:50
Obviously, different companies have different levels of risk.
11:53
Like we came back to the biotech example
11:55
and the supermarket example.
11:57
But at the end of the day,
11:59
yeah, there is a lot of volatility
12:00
and a lot of risk and a lot of uncertainty
12:02
when it comes to investing in stocks.
12:04
But you,
12:05
on average,
12:06
you're the surgeon, right?
12:07
You're the surgeon.
12:08
On average,
12:09
you're compensated
12:10
for that return in the long run.
12:12
And that return comes in the form of similar property
12:15
you get,
12:16
the change of the price,
12:17
which is the growth.
12:18
So IEU bought a stock for a dollar
12:20
and then by the time you sell it,
12:22
it's a dollar 20 or something.
12:23
Yeah.
12:24
But with a lot of companies,
12:25
you can also get a dividend,
12:26
which is like,
12:27
which is kind of like rental income.
12:28
I didn't even realize that.
12:30
So they can pay you on top of that price difference.
12:33
So,
12:34
yeah, so you can get dividends
12:35
and you can get the price gain.
12:37
So income and growth is kind of what we call it.
12:40
Which is a little...
12:41
So going to more detail with this
12:42
in another podcast, right?
12:43
Yeah.
12:44
Exactly.
12:45
Because my brain's starting to...
12:46
Yeah.
12:47
So you've got cash,
12:48
then bonds,
12:49
then property, then stocks.
12:50
Okay.
12:51
So those are asset classes
12:52
and the reason that
12:53
they're in different buckets or sections
12:55
is because some are less risky
12:56
and then some are more risky.
12:58
And they're kind of clumped together, right?
13:00
And the drivers,
13:01
the supply and demand drivers,
13:02
that move each of those asset classes,
13:04
is different.
13:05
We're going to come into another discussion
13:07
on diversification,
13:08
but that's why you should,
13:09
if you can,
13:10
invest in different asset classes
13:12
to spread to your risk even further.
13:15
I actually can't believe
13:17
I didn't know what a dividend was.
13:19
Like the fact that I had no idea
13:21
that a dividend
13:22
is paid back to you
13:23
as part of a return
13:24
when you invest in a company.
13:26
Again, no shade
13:27
if that's something you don't know either,
13:29
but...
13:30
Holy!
13:31
Like it's kind of cute.
13:33
Also like hats off to you
13:35
for learning
13:36
when I was still kind of explaining things
13:38
in a pretty fine artsy way.
13:40
You know?
13:41
I think that's cute-os to you, babe.
13:43
Yeah, wow.
13:44
No, I think what I'd like to talk about now.
13:46
So about...
13:47
I was probably a year and a half ago.
13:49
A year ago now.
13:51
We sort of like pivoted, didn't we,
13:53
from just talking about investing
13:55
to talking about personal finance.
13:58
And I would love you to give an explanation
14:01
from a financial perspective
14:03
why we structured the business
14:05
the way that we did.
14:06
And let's like do a little peak
14:08
behind the curtain.
14:09
I remember we started
14:12
with social media,
14:13
then we went to the podcast.
14:15
Very quickly we were like,
14:17
hang on a second.
14:18
There's a lot of interest in this.
14:20
This could be a bit of a thing.
14:23
And then I remember we were like,
14:27
let's go see a business advisor
14:29
just to like flesh out.
14:31
Who else is doing what we are?
14:32
You know, what our goals are?
14:33
What our mission is?
14:35
Where we see this going.
14:37
And I remember sitting there
14:39
and it's quite good having someone else
14:42
analyze your idea,
14:44
or your business,
14:45
or your startup,
14:46
whatever it is,
14:47
with just like a fresh set of eyes.
14:49
And out of that meeting came the fact of like,
14:52
okay,
14:53
if we want to run with this
14:54
and run as fast as we can,
14:55
then we need someone to go full time.
14:58
We couldn't pay for two salaries.
15:00
And there was credit in me staying
15:02
in the finance industry as an expert
15:05
for as long as possible,
15:06
getting access to research
15:07
and just being in the stock market world.
15:10
And so,
15:12
I think you were freelance at the time
15:13
and so it was like,
15:14
okay, why don't we pay you
15:15
to be full time freelance
15:17
at the curve pretty much?
15:19
You know, they pay your salary.
15:21
And then,
15:22
and we put some bloody audacious goals
15:24
in there in terms of sponsorship
15:25
for the podcast.
15:26
And you've hit all of them.
15:28
Oh my God, I even remember at that point,
15:30
I remember leaving the meeting.
15:31
I was actually living with you at the time.
15:33
It was during lockdown.
15:35
We were driving home.
15:36
And I just remember you were like,
15:37
oh, this is great, this is great.
15:39
And like really excited.
15:40
And just like,
15:41
start new.
15:42
I was like, fuck it.
15:43
You were like on cloud nine.
15:45
You were like,
15:46
this is going to be a walk in the park.
15:47
And I was like,
15:48
holy shit balls.
15:50
Like how on earth am I going to sell advertising?
15:53
Like,
15:54
and I was like,
15:55
we find baby, we're absolutely fine.
15:56
I was like,
15:57
I don't think you understand the gravity of this situation.
16:00
Like I was really panicking.
16:01
And then it was quite funny,
16:02
because we were living together
16:03
and I kind of didn't know what I was doing
16:04
or how to spend my time.
16:05
And I'd go for walks.
16:06
And Vick was like,
16:07
what are you up to?
16:08
We're paying you.
16:09
Get back to work.
16:10
Get back to work.
16:11
Get back to work.
16:12
So at this point in time,
16:13
so about a year ago,
16:14
we were finally in a place
16:16
where Vick could go full time.
16:17
So for like two and a half years,
16:19
it was just me.
16:20
And Vick was working for free on the side
16:23
after work before work in the weekends
16:26
so that we could what?
16:28
No, no, sorry.
16:29
And I remember going full time.
16:31
And I was like,
16:32
yes, I'm going to get my evenings and weekends back.
16:35
No.
16:36
No.
16:37
No.
16:38
And I remember leaving work
16:41
and the guys at work were like,
16:43
what are you going to do tomorrow?
16:44
Like how are you going to fill your time?
16:46
I was like,
16:47
still the finance person.
16:48
Yeah, I was like,
16:49
you realise that I'm leaving
16:50
because I have a business
16:51
that's doing really well.
16:52
Like I was just like,
16:53
do you think I'm just going to wake up
16:54
and just start twiddling my thumbs?
16:55
Like, honestly.
16:56
They obviously never even
16:57
looked at what the curve was.
16:59
They were like,
17:00
yeah.
17:01
But yeah, I remember thinking,
17:03
it's very naively
17:05
that I would get my weekends
17:06
and evenings back.
17:07
But it's so different
17:09
when you work on something
17:10
that you love and you're passionate about
17:11
and you enjoy,
17:12
then working for someone else.
17:13
Like, work doesn't seem like work
17:15
because it's like,
17:16
kind of like an activity.
17:17
Yeah.
17:18
And you're like achieving something greater
17:20
rather than just working
17:22
and someone else has been affitting
17:24
or like, you're not changing the narrative
17:27
or heating towards your vision.
17:29
You know, there's like,
17:30
there's like a bigger,
17:31
you know, why are we doing this kind of thing?
17:33
Which sounds very philosophical,
17:35
but...
17:36
No, I was going to say,
17:37
I think it's amazing.
17:38
We're really lucky to have that.
17:39
But I also think for people
17:41
who might at some stage
17:42
think of doing their own thing
17:43
or starting a business.
17:45
It's also, I think,
17:46
one of the biggest learnings
17:47
that I've had in the last few years
17:48
is it's also okay to do things for money.
17:50
It's okay to be driven
17:52
by financial freedom.
17:54
It's okay to want to earn more on the side
17:57
and like, if you have an idea
17:58
that you think is a really successful,
18:00
financially successful idea,
18:02
you could also be really driven
18:04
by doing that in your spare time
18:06
because, you know, you're earning more money.
18:07
I think my point is,
18:09
is that I think that your passion
18:11
in a vertical commerce
18:12
doesn't have to be your side hustle
18:14
or your job.
18:15
It can also just be a money maker.
18:17
And I think that, like,
18:19
putting all this pressure on you
18:20
shouldn't start something
18:21
until you've found your purpose
18:22
and you're in the flow today.
18:24
Like, put so much pressure on people.
18:26
So, I guess, like,
18:27
I think my biggest learning
18:28
at this point in time
18:29
when we got to a place
18:30
where we could pay you full time
18:32
was, firstly,
18:33
oh my god, how exciting
18:34
that we have, like, more people
18:36
and I'm not going to be as loner,
18:38
like, just harassing you all day.
18:40
Like, hey, reply to my email.
18:42
But also, I think that we,
18:44
it gave me this new perspective
18:46
that I hope by sharing this story,
18:47
it's maybe helpful for other people,
18:49
is you can be really creative
18:51
with the way that you start a business
18:52
and the way that you pay each other
18:54
and how it's equal.
18:55
Like, what we were putting in
18:57
was very different.
18:58
And we both
18:59
not felt like we were getting
19:01
this shit into the stick.
19:02
But, like, you were working out
19:03
rages hours and not being paid.
19:05
I was also working out rages hours,
19:06
getting paid,
19:07
but, like, not what I'd get paid
19:08
in the industry.
19:09
And I think for us,
19:10
the biggest learning has been
19:12
every time things get a bit prickly
19:14
or, like, stressful,
19:15
or you feel like
19:16
you're making bigger sacrifices
19:17
to talk about it,
19:18
because, yeah.
19:19
We've had so many times
19:20
in, like, iterations
19:21
of what the curve looks like
19:23
in terms of financially,
19:25
in terms of the people
19:26
we're working with us,
19:27
all of that.
19:28
And I think for me,
19:29
the biggest learning
19:30
is, like, finding somebody
19:32
who can fill the parts
19:34
of work that you're not that good at.
19:36
I also think for me,
19:37
it's, like, if anyone,
19:38
some advice,
19:39
if anyone's thinking of,
19:40
you know, going out
19:41
and doing their side hustle
19:43
full time, is, like,
19:44
have a plan.
19:45
I'm not saying that,
19:46
like, I'm a planner,
19:48
but I just think having a goal
19:51
or targets or a direction
19:53
is quite important,
19:55
and I think,
19:56
because when you're starting out,
19:57
you can get distracted
19:59
by everything,
20:00
because it looks exciting.
20:01
And I think,
20:02
I remember one time
20:03
when we were starting
20:04
and where there was a sponsor,
20:06
and I was like,
20:07
but they're willing to pay us
20:08
so much that you were, like,
20:09
no, but it's not part of the plan,
20:10
it's not part of our goal,
20:11
and, like, strategically.
20:13
And it was just, like,
20:14
you keep coming back to that,
20:15
and, like, I've got so many friends
20:16
that are like, oh,
20:17
I want to go out
20:18
and do my side hustle full time,
20:19
but I don't know what this will lead to,
20:22
and I'm like, okay,
20:23
we'll sit down and ride out the plan,
20:24
and it'll just give you so much more comfort.
20:26
And, gosh, actually,
20:28
our plan, you know,
20:29
has been so different
20:31
to what we thought it was,
20:32
but at least you have some kind of
20:34
stepping stone or direction,
20:35
or something you're moving towards,
20:38
rather than just jumping
20:40
in the DPN and just figuring it out.
20:42
And I think with that,
20:43
with our business advisor,
20:44
it was, like, really integral
20:46
and that having a bit of direction, okay?
20:48
And then, so I'm going to be,
20:49
I say, eyes and you,
20:50
you're going to be full time for 12 months.
20:51
At that point,
20:52
we have to achieve these targets
20:53
in order for things to come on full time.
20:55
Like, there was just a bit of clarity, I think,
20:58
in terms of what we were going
21:00
and what we were achieving.
21:01
I think what's quite ironic
21:02
is that this point in time
21:03
from a business perspective,
21:04
when you came on full time,
21:07
you know, we did have a plan,
21:09
business-wise,
21:10
but personally, I didn't.
21:13
And so, what had happened was,
21:15
I started investing heaps
21:17
because all of our earlier episodes
21:19
and content was trying to
21:21
really screen from the rooftops,
21:23
how easy it is to learn about investing.
21:25
Point is, I started investing,
21:27
like an absolute,
21:28
like a dog with a bone.
21:29
And I would just put huge amounts
21:31
of money at the huge.
21:32
Ah!
21:33
I mean, I wasn't earning much,
21:35
but basically, I was all perspective.
21:37
But I wasn't planning the amount
21:39
that I was investing,
21:40
so I didn't have a personal plan.
21:42
And what happened was, so, like,
21:44
I guess, to look at some of our older
21:46
and most listened to episodes,
21:48
one of them is,
21:50
raising the curve 69.
21:52
I mean, I'm not going to hash
21:54
over what happened,
21:55
because I know a lot of people
21:56
who remember,
21:57
but I didn't have a personal
21:59
financial plan,
22:00
so it got to the point
22:01
where I'd invested too much,
22:03
and then I didn't have any money
22:04
in my savings and every day account.
22:07
And what kind of happened at this point in time,
22:09
because Vic was full time,
22:11
we were in the position
22:12
where we could put together a course,
22:14
and that course was the money reset.
22:16
And the money reset,
22:17
as well as currently,
22:18
on sale now.
22:19
So it starts on the first of August
22:20
for anyone who wants to do it,
22:21
but where this originated,
22:23
it's just so ironic that it was the time
22:25
when our business plan was coming together,
22:27
you came on full time,
22:29
but yet my personal finance
22:30
was a total of shambles,
22:31
and we basically had to put together
22:33
an entire course
22:35
for personal finances.
22:37
But I wanted to play a little snippet
22:39
of the conversation we had around this time,
22:41
on the podcast,
22:42
and I just,
22:43
I pulled out a little bit
22:44
that I feel will be valuable to anyone
22:47
who's maybe feeling a bit ashamed
22:49
or embarrassed as to where their spending habits
22:51
are at the moment,
22:52
or maybe they've,
22:54
you know, you had the best of intentions,
22:56
but you've ended up in a situation
22:57
where you're like,
22:58
oh my god,
22:59
sometimes you have to go back to basics
23:01
and you have to put a plan together.
23:02
And just like as a business,
23:04
we had to do that,
23:05
you need it as a person.
23:06
You're like a tiny little business.
23:08
Yeah, if you don't know
23:10
where your money's going,
23:11
or how you're spending it,
23:13
it just puts so much unnecessary stress and pressure,
23:15
and so I think for me,
23:17
not only was that course amazing,
23:18
but this whole evolution
23:19
of talking about my giant blowout
23:23
was actually super positive,
23:25
so I'm just going to play a tiny bit of that.
23:28
Yeah, and I think that was
23:30
the biggest thing for me and we're at the airport,
23:32
and you were like,
23:33
can you help me sell some of my shares and shares as?
23:36
And I didn't even know what to sell.
23:38
I'd never sold them before.
23:39
Yeah.
23:40
And I saw your account,
23:41
and I was kind of like,
23:42
what are you complaining about?
23:44
I was like,
23:45
oh my gosh,
23:46
I was like, girl,
23:47
you've got money.
23:48
You know,
23:49
I wasn't,
23:50
sorry, that sounds unsympathetic
23:51
because you literally had no money
23:53
in your bank account.
23:54
But I was like,
23:56
and this whole conversation as well,
23:58
it's like,
23:59
there's a lot of people listening
24:00
that are probably like,
24:01
I don't even have money in shares
24:02
that I can tap into
24:03
or liquid money that I'd be able to access.
24:05
It's, you know, like you said,
24:06
it might be tied up in property
24:07
or things you can't access quickly
24:09
when you need it.
24:10
And this is why we always harp on
24:13
about having money and emergency fund
24:16
because there will be dire times
24:18
like this throughout a lot of people's lives
24:21
where you need to access money quickly,
24:23
whether it's a trip for Sicily
24:25
or whether it's a road canal
24:27
or anything.
24:28
Firstly, I appreciate you being honest
24:31
and being like,
24:32
ah, you have money
24:33
because I didn't think that.
24:35
I honestly didn't think that
24:36
because we've been
24:37
harping on about investing
24:39
for the long term
24:40
and invest for 5, 10, 20, 30 years.
24:42
So in my mind,
24:43
because I'm an extreme person,
24:45
I put that money in there
24:46
genuinely not planning on touching it
24:48
for 20 years.
24:50
What I've invested in
24:51
are like long term investments.
24:53
They're things that I believe in
24:54
and I want to leave.
24:55
I'm not planning on taking that money out
24:57
in six months.
24:58
That's not how you've taught me to invest.
25:00
And so in my mind,
25:02
I didn't have any money
25:03
because I was trying to train my mindset
25:05
to be like,
25:06
pretend that that's not yours
25:08
because it's otherwise
25:09
I'm going to constantly dip into it
25:11
like I did with my emergency fund
25:13
for non-emergencies.
25:14
And I think that's great.
25:16
The fact that you have that mindset
25:17
is so good because you shouldn't.
25:20
I mean, it's easy to say that,
25:21
but life throws us women
25:24
sometimes and we do need to
25:26
dip into our investments
25:29
but having that mindset.
25:31
And it's really important
25:33
to be strict with yourself.
25:34
Yeah, maybe Sicily
25:35
wasn't a time to dip into your investments.
25:37
Yeah, it wasn't.
25:38
But this is why we say
25:39
have emergency funds
25:40
because then you don't feel as guilty.
25:42
And like the flip side of that
25:44
is what if your investments,
25:47
like hats off to your investments
25:48
have done fantastically well?
25:50
We're going to get there
25:52
and say, yeah, I have a moment
25:54
of being proud of myself.
25:55
But, yeah, what if you didn't have
25:57
an allot of text?
25:58
What if you didn't have
26:00
parents to call?
26:01
Parents, she's these account.
26:03
And I think this whole conversation
26:05
comes back to planning
26:08
and having a plan in process
26:10
because we could have avoided
26:13
the situation.
26:14
I love it.
26:15
You say we, that's not here.
26:16
We could have avoided it.
26:17
All three of us could have avoided
26:19
the situation.
26:20
And future situations
26:21
that might arise,
26:22
if we have a plan in place
26:23
and we know, okay, look,
26:25
I'm going to London.
26:26
I'm going to Sicily.
26:27
I am going on any holiday
26:30
or, you know,
26:31
and I need this amount of money.
26:32
Okay, let's work backwards
26:33
and figure out how much do I need
26:34
to save in order to have that?
26:36
And I think this is how you
26:38
live your life in general is, you know,
26:40
sleep, personally.
26:41
Yeah, okay.
26:42
I think it's a bit scary for you.
26:43
No, it's just like very, like,
26:45
you work in a different way.
26:46
You know, I'm very much a planner
26:48
and I like systems
26:49
and I like schedules
26:50
and I'm very boring and I'm very financy.
26:51
Whereas you are the complete opposite
26:53
in every single way,
26:54
and that's why I love you.
26:55
And that permeates into our behaviors
26:57
around money.
26:58
And I think it's like,
26:59
to avoid these kind of situations,
27:01
maybe there's parts of our behaviour
27:03
when it comes to money,
27:05
they could be improved or changed.
27:07
But I think you almost need to have a moment
27:09
like this to realise,
27:10
okay, now I need to change.
27:12
Do you know what I mean?
27:13
It's kind of,
27:14
do you know?
27:15
It's like, it's great to realise.
27:16
Yeah, yeah.
27:17
I have sunk.
27:18
I'm at the bottom of the ship.
27:19
It's great.
27:20
I'm on ship to waterfall.
27:22
I'm going down.
27:23
No.
27:24
Are you recon?
27:26
Because I've often thought about
27:28
the relationship that I have with money
27:31
and like just in the journaling,
27:34
reflecting on what my parents did
27:36
or didn't reveal to me about money
27:38
and that, you know, money in our household
27:40
was like this kind of,
27:41
I don't know.
27:42
It was just always a really
27:43
teacherful conversation or whatever.
27:44
But how should parents
27:48
or like how can parents
27:50
input,
27:52
or I'm just kind of always
27:53
want to like what better job could they have done,
27:55
you know, to give me a good money mindset
27:57
because it's, yeah,
27:58
it's feel like it's a consistent thing
28:00
across a lot of my girlfriends as well
28:02
when I talk to them about
28:04
how they were taught about money.
28:05
And it feels like
28:07
a lot of it just wasn't there
28:09
and I don't know whether that's like a male female thing
28:12
but I also haven't talked to a friend
28:15
either who was like,
28:16
yeah, no, I was really
28:17
set up for success by my parents
28:18
and I always wonder like,
28:19
what is the,
28:20
what does the moderate
28:21
model look like?
28:22
There's so many different aspects
28:24
that come into your money behavior,
28:26
not just how your parents
28:29
talked about money.
28:30
Do you know what I mean?
28:31
It's like all other parts
28:32
of your personality as well,
28:33
play self-worth as well.
28:34
Totally, like things like that,
28:36
like even, you know,
28:38
people might have an aversion
28:39
to spend money on themselves
28:41
or they might feel like
28:42
they have to give money to their community
28:44
rather than keeping it for themselves.
28:45
You know, there's so many things
28:47
that play into how you spend,
28:49
how you save, how you invest.
28:50
And also, we go through different life stages,
28:52
like you said,
28:53
you've just gone through a breakout
28:54
that's been a huge shock in terms of,
28:55
you know, your financial situation
28:57
and you could have never planned for that.
28:59
You know, taking each day as it comes
29:01
but I guess like having that insurance
29:04
in terms of a little pool of money
29:06
shouldn't anything go wrong.
29:08
If I think about the feeling that I have
29:11
when I've got like an emergency fund
29:14
sitting there,
29:15
even if it's, you know,
29:17
what ever size,
29:18
I feel on top of the world
29:20
I'm literally like,
29:21
I am crushing the game.
29:23
Actually saying,
29:24
but I can't remember because it's so long ago.
29:26
I'm exactly saying,
29:27
you know,
29:28
when we have a low balance
29:29
in the curve account,
29:30
it's like, do not come near me.
29:32
I am not in a good mood.
29:33
Stressed out like any little thing
29:36
will trigger me.
29:37
I've noticed that.
29:38
And I'm like, okay, cool.
29:39
I'm going to set up an emergency fund
29:40
for our business account
29:42
because I know that it affects my stress levels.
29:44
And so, you know,
29:45
so it's kind of,
29:46
I guess just being aware
29:48
and identifying how money impacts you
29:52
and your behavior and vice versa
29:54
and just focusing on little improvements.
29:57
It doesn't have to be a complete overhaul.
29:59
I think my sister is quite like you
30:01
when we were younger.
30:02
Yeah.
30:03
She would be like,
30:04
I've got no money in my bank account
30:05
and I'm like,
30:06
what do you mean you have no money?
30:08
That would spin me into
30:10
absolute financial mess
30:12
having no money.
30:13
Like I always had a buffer
30:14
and I think for me personally,
30:16
even if it was $100 when I was younger,
30:18
but...
30:19
But then what about people
30:20
like myself
30:21
who did have a $5,000 emergency fund
30:23
and have been dipping into it
30:25
across the last six months
30:27
and now don't have one?
30:28
I think actually I know the answer to that
30:30
and it's because I'm spending unconsciously.
30:32
It's because I don't have a budget
30:33
I don't have any plan in place.
30:35
I haven't looked at my in
30:37
Cummings and outgoings
30:38
and figured out what is realistic
30:40
in all areas
30:41
and what I need to pull back on.
30:43
And it's something that we get asked
30:45
all the time by the curve community.
30:46
It's like, how do you balance
30:48
future me with currently?
30:49
And it's so hard.
30:51
It's hard.
30:52
It is hard.
30:53
Of course we want to travel
30:54
to every amazing country
30:55
and live our lives or we're young.
30:56
We don't have kids or whatever.
30:57
But there is a balance
30:59
between sending yourself
31:01
into a spiral of financial stress
31:03
because you can't afford those trips.
31:05
Sorry, and I'm not saying this is you.
31:07
No, I'm just saying that.
31:09
I'm using that extreme as an example.
31:11
No, it isn't extreme.
31:12
And I didn't really enjoy the trip
31:13
because I was so stressed out.
31:14
And there's a balance between being like,
31:16
okay, maybe I'll pull back on that a bit
31:17
and save a bit of money
31:18
so that that doesn't happen
31:20
or that I have a good retirement
31:22
or a good future or whatever.
31:23
Or I can afford a house in a few years.
31:25
Yeah, whatever it is.
31:26
It's like so that you can actually,
31:28
because if I had not gone on that trip,
31:29
which I should have not gone,
31:31
let's be honest.
31:32
I'm glad you came.
31:33
I know, but I shouldn't have gone.
31:36
Yeah.
31:37
And then maybe it's in two months' time,
31:39
I save up for a trip that I'm excited for
31:41
that I can afford.
31:42
Yeah.
31:43
Rather than just doing it
31:45
to try to keep up with the crowd
31:47
and feeling uncomfortable the entire time
31:49
and looking at the bill and thinking,
31:50
fuck everyone's holding shots
31:51
and I kind of afford that.
31:52
Because the whole time I was thinking
31:54
because I don't drink wine,
31:55
everyone was pulling all this wine
31:57
and drinking at night.
31:58
And I'm aware that I'm going to have to split the bill
32:00
and blah, blah, blah.
32:01
And so it was actually stressful
32:03
on the holiday, you know,
32:05
but I should have just not gone.
32:07
It's almost saying no to things now
32:08
so you can say yes to more things in the future.
32:10
We can't say yes to everything
32:12
because...
32:13
It's expensive to live in the world right now.
32:16
Yeah.
32:17
And like you said,
32:18
you want to go and you want to enjoy it.
32:19
So save up for it
32:20
and then you'll feel way more stoked going
32:23
and enjoying it, knowing that you've saved
32:25
and you can afford it
32:26
and you can really enjoy it
32:27
and make the most of it
32:28
rather than doing kind of like a...
32:29
Half us.
32:30
Half us.
32:31
Yeah.
32:32
But it's so easy to sit here and be like,
32:33
you should have done this
32:34
and you should have done that.
32:35
It's more...
32:36
What have you learnt from this
32:37
and what are you going to take forward
32:39
in terms of your financial habits?
32:42
I'm not going to lie to you.
32:43
I'm 100% relying on you.
32:45
Well, I think for you personally,
32:47
my first tip would be
32:49
to build up that emergency fund, ASAM.
32:52
I appreciate it.
32:53
What do you do?
32:54
I know.
32:55
What about...
32:56
What about?
32:57
Can we...
32:58
We're not doing a joint account.
32:59
No.
33:00
It just blows my mind
33:02
that you didn't have an emergency fund.
33:04
I don't know.
33:05
I didn't even know what it was.
33:07
I hate to say it but sometimes it's like times like these
33:09
that make you realise.
33:10
Like, you know when your parents can say like,
33:12
don't drink too much alcohol,
33:13
don't drink too much alcohol
33:14
and then you have a blinder
33:16
and get absolutely pissed and you're like,
33:17
oh, that's why they said don't drink too much alcohol.
33:19
You know, you almost need to learn
33:21
from your own experience to realise,
33:23
oh, okay.
33:25
That's what I've been saying.
33:26
That's why she's the broken record.
33:27
Yeah.
33:28
Yeah.
33:29
No, definitely.
33:30
And I think that the amount of pressure
33:32
that it's lifted off my shoulders being able to know
33:36
that if it...
33:37
Like, okay, I'm actually...
33:38
I'm going to tell you what happened today
33:39
because I basically sent a message this morning.
33:41
I was meant to be in a nine o'clock meeting
33:43
and I texted back and I was like,
33:44
I'm having a minor emergency.
33:46
I'm going to be five minutes late to the meeting.
33:50
And I came on the call and I was like,
33:52
it's not funny yet.
33:53
Like, I don't feel comfortable telling you what happened.
33:56
Oh, God.
33:57
So basically this morning I was liming to work
34:00
and I had my bag on one side
34:02
and I had my laptop in the front thing.
34:05
And I like parked up, parked my line,
34:07
wandered, got a coffee.
34:09
It was really cute.
34:10
And I was like, oh, time to go.
34:12
Went to, like, go into the meeting
34:15
and I was like, oh, my God, where's my laptop?
34:18
Oh, my God.
34:19
And I'd left my laptop in the front of the line
34:21
on the street for about 20 minutes in London.
34:24
And I just, it was like, holy shit,
34:26
I'm going to have to buy a new laptop.
34:27
Like, I'm going to have to fork out foreground for like, spiraling.
34:31
But in the moment of my spiral was,
34:34
I have an emergency fund.
34:36
This is exactly what this was for.
34:38
And yes, I was like, you absolute idiot.
34:42
How did you do that by yourself?
34:44
A backpack?
34:45
Do not ever carry your laptop like that.
34:47
But the stress was not existential
34:52
because I have a buffer.
34:53
And I think I wanted to say for anyone who's like, yeah,
34:56
well, it might be easy for you to get a buffer.
34:58
It was not easy for me to get a buffer.
35:00
But the money reset cost for me was so game changer
35:03
because it helped me to put really obvious simple things in place.
35:07
So the wind stuff like this happens,
35:09
but it should always well.
35:10
I'm not like calling my dad and tears
35:13
at a 30 year old woman being like, help me.
35:16
Like, it's all embarrassing.
35:18
I'm so glad you didn't tell me that.
35:20
I would have probably spiraled.
35:22
I know.
35:23
I would have spiraled for you.
35:25
I know, I know.
35:26
No, but I'm glad you found it.
35:27
So another episode, one about most listened to,
35:30
we've got quite a few most listened to.
35:33
Well, I think the reason this is a fun one to talk about though
35:35
before we continue is like, when we first started the curve,
35:39
we didn't have many resources, right?
35:41
So it was like, however much you could research
35:43
and I could produce was what we were doing.
35:45
So we were strictly like, you know,
35:47
firstly it was stocks and then we went into personal finance.
35:50
And now that we've had other amazing contracts,
35:52
like content creators and stuff help us,
35:54
we've been able to devil more and like different asset classes,
35:57
like art or jewelry or property or crypto.
36:00
Like the fact we've talked about insurance is ridiculous.
36:04
Amazing.
36:05
Insurance, crypto, property.
36:07
Yeah, we've touched on a lot of things.
36:09
And I think one about most listened to episodes
36:13
should I pay off my mortgage or unvest?
36:15
I cannot count how many times I have been asked this question.
36:20
And I actually remember doing this podcast
36:23
and you were like, just tell me what to do.
36:26
Oh my God, that's basically the better I wanted to play
36:28
that's so funny.
36:30
It took us like two hours to get to the point.
36:32
And me just being like, well, it depends.
36:35
You've got it.
36:36
It's like, oh my God, just tell me what to do.
36:39
But this was actually sponsored by Trade Me property.
36:43
And yeah, we've just been absolutely blown away
36:46
by how many lessons this has had in such a short space of times.
36:49
Obviously a hot topic, especially with mortgage rates.
36:52
So ridiculously high right now.
36:55
To summarize the episode at the very beginning of the episode.
37:00
Is that a good idea?
37:02
Should we just drag it out to the very last minute?
37:05
It will make us a four hour episode.
37:06
So we have it'll be for ages and we haven't even really done anything.
37:10
And that's a wrap.
37:11
Thanks everyone.
37:13
No, but investing your money only really makes sense
37:17
if you can earn more on your investments after tax,
37:20
then your mortgage rate.
37:22
So if your mortgage rate is seven percent,
37:24
and you reckon you can earn more on your investments,
37:27
then it makes sense to invest that money
37:30
because you're making a higher return on it.
37:32
Can we break that down?
37:34
No wait, hold on, before we move on to the caveat,
37:36
though can you maybe give me a diagram
37:38
or a really little numbered example?
37:40
Because if you're walking or you're doing something,
37:43
I think it might need to be.
37:44
For me, I'm sitting here staring at you and I'm still like.
37:47
The thing with investing is there is no real guaranteed return.
37:51
Whereas what you pay at a mortgage rate is pretty guaranteed.
37:54
If your interest rate is that your paying is seven percent,
37:57
whether it's fixed or floating, which we can get into as well,
38:01
but usually the bank will be like,
38:03
for a set period of time you have to pay seven percent per year,
38:05
which you know is a set dollar amount
38:07
that comes out each month that you have to pay.
38:10
The bit where it gets tricky is that when you invest,
38:13
there's no guarantee of a particular investment stocks.
38:16
We say on average you can get 10 percent return per year
38:19
over the long term,
38:21
but that could be negative two percent one year.
38:24
It could be positive 15 percent one year.
38:26
So that's where it's hard to give a definitive answer
38:29
of what's best.
38:30
Ah, because on one side you have a fixed amount that you can be like,
38:33
well, you know that you're going to be saving X amount by paying off whatever.
38:36
Yeah.
38:37
But the stock market is up and down.
38:39
Yeah, yeah, yeah.
38:40
So that's why that's where it gets tricky.
38:43
So some people might be like, you know what?
38:45
I'm willing to take the risk and invest that extra money
38:50
and invest it for the long term,
38:52
where I know that the return will most likely be about 10 percent.
38:57
Whereas other people might be like, you know what?
38:59
I don't think I can get that.
39:01
For whatever reason, they might be older.
39:04
They don't want to take that risk.
39:05
They might be like, you know what?
39:07
I'm just going to, I'd rather just the certainty of paying off my mortgage
39:10
and also I might just hate debt.
39:12
I'm quite devious.
39:13
I would rather.
39:14
Yeah.
39:15
I guess it's, is it also so say mortgage rates are 7 percent
39:19
and say, so how would you then figure out?
39:22
So say you owed $100,000.
39:24
You would figure out what's 7 percent of that?
39:27
Is that right?
39:28
7,000 of that?
39:29
I think that's right.
39:30
Then, then, would that be,
39:34
what would you then be figuring out?
39:36
Okay, so if I was to then invest that 7,000 over a year,
39:40
what could I be making on that?
39:42
And is it more than what I'd be paying off?
39:44
Is that right?
39:45
It's kind of, get rid of the dollar amounts.
39:47
I think that it's more the percentages, if that makes sense.
39:50
Maybe let's go back to maybe a few years ago,
39:53
when the banks interest rates and mortgage rates were like 2 to 3 percent,
39:56
it was a kind of a no-brainer then to invest your money.
39:59
Stock market.
40:00
Yeah.
40:01
Because you're like, look, the stock market,
40:03
even if it gets 6 percent,
40:05
it's better than, you know,
40:07
I can invest in some pretty low risk things
40:09
and still get a better return than I can in my mortgage.
40:13
There's probably people listening that are like,
40:15
but actually, so the flip side of that is,
40:17
if you are early on in your mortgage,
40:21
so you've just bought your first house
40:23
and your mortgage is quite high
40:25
because you haven't had years to pay it off.
40:27
So, you know, usually, over time,
40:30
you start with a higher mortgage
40:31
and you pay it off over the years.
40:33
So the dollar amount of your mortgage is quite high.
40:35
Oh, so 2 percent is actually quite a large number at that point.
40:39
Yes, exactly, but also,
40:41
the size of your mortgage is quite a large number
40:44
so you're best to pay it off as quickly as possible.
40:46
Okay.
40:47
Because if interest rates do start going up,
40:50
and you're managed to pay down interest on it,
40:52
yeah, and you've managed to pay down a lot.
40:54
So there's that that comes into it too.
40:56
So there's the what return you think you can get,
40:59
but also how early on you are in your mortgage.
41:02
So therefore, what size is your mortgage?
41:05
If it's massive, if it's...
41:06
If you're at the tail end and you're like,
41:08
you know what?
41:09
No, it's at the tail end.
41:10
7 percent.
41:11
And I've only got $50,000.
41:13
Oh, my God.
41:16
That's the dream.
41:17
That's why banks lend you the money because...
41:19
Does anyone pay their mortgage off by the time they die?
41:21
Like, honestly, they can't be that many people that are mortgage free.
41:24
Yeah.
41:25
Well, I mean, this is another thing is that most people
41:28
that do pay off their mortgage, they're like,
41:29
cool, now I can borrow more.
41:30
You know, it's like this cycle because you're like,
41:32
well, well, you've paid it off.
41:34
Yeah.
41:35
And you've still got the asset.
41:36
You've still got your house, which is worth, say,
41:38
now you've got a million dollar mortgage free house.
41:41
You can go to the bank and say,
41:42
hey, can I borrow $500,000 and buy another house?
41:45
So this is the ladder thing.
41:47
This is the whole, yeah.
41:48
So it's like, you know, people with money get richer.
41:51
Like, it's the idea that...
41:53
It makes money.
41:54
It makes money, whatever that's saying is, yeah.
41:56
But...
41:57
Oh, I really want to own something back.
41:59
No.
42:00
I don't want to just see for this.
42:01
I have a chance.
42:02
Remember this.
42:03
Remember this when you're sitting there and bogged down and paperwork.
42:05
Yeah, yeah, yeah.
42:06
It is time consuming, but I kind of remember that time in my life now.
42:10
You know, use it seemed overwhelming, confusing at the time.
42:13
Just like it does now, sorting out my bloody tags.
42:15
But I'm like, you know what?
42:17
I'm going to be a bit of for it.
42:18
Oh, yeah, the tags.
42:19
Oh, fuck.
42:20
This is what the tags were.
42:21
Shit.
42:22
Anyway, okay.
42:23
So sorry.
42:24
Yeah, that's a good idea, though.
42:25
Like, when you start to be like,
42:26
I don't want to learn about investing.
42:27
This is boring.
42:28
Oh, this is overwhelming.
42:29
Or I don't want to do my paperwork.
42:30
Whatever it is.
42:31
Visualizations.
42:32
Yes.
42:33
Mantras.
42:34
Whatever you need.
42:35
Like, something to get you through the bog down.
42:37
Because the reality is it is hard.
42:39
And it's also work.
42:40
And don't be afraid of if you're talking to an expert,
42:43
be like, sorry, can you explain in a different way?
42:45
Or sorry, I still don't get it.
42:47
Because for them, they talk about the stuff all the time.
42:50
They're talking in tech speak.
42:51
They're talking in mortgage speak.
42:53
You don't.
42:54
And if you don't understand, then you're not going to enjoy the process.
42:58
You're not going to learn.
42:59
You're going to come out feeling probably confused and overwhelmed.
43:02
And you want to, I don't know, you want to feel that sense of empowerment
43:05
of understanding and being like, oh, my God, I get it.
43:08
Oh, I have a quick update here before we continue
43:12
onto the next phase of the curve and the podcast.
43:15
Last night, I had a call with a mortgage broker.
43:17
Yes.
43:18
And I actually have done some other paperwork now.
43:21
No.
43:22
Like I sent business financials.
43:23
I sent my pay slurps.
43:25
This is stuff that I have been avoiding.
43:27
I don't know what's come over me,
43:28
but I have this newfound enthusiasm to get back into the property game.
43:32
So maybe we can do another update because I'd love to,
43:35
I know actually trade me property.
43:37
They're quite keen to do some more.
43:38
And I feel like this could be actually.
43:40
Maybe do a little mini series.
43:42
So yeah.
43:43
Property journey.
43:44
I think that will make you give you momentum.
43:46
You know, I'll keep you.
43:47
We'll be like, okay, we need another episode.
43:48
We need an update.
43:49
What have you done?
43:50
What paperwork have you completed?
43:51
Where are you at?
43:52
Yeah, yeah, yeah, yeah, yeah, yeah, yeah.
43:53
Love this.
43:54
I think what a really lovely way to finish this episode.
43:58
And sorry if this has been self indulgent.
44:00
But we wanted to take you on a journey of like,
44:03
what's been happening behind the scenes.
44:04
Because where we are right now is we've just finished fundraising.
44:07
So we've taken external investment from all sorts of incredible people
44:13
to grow the curve bigger, better,
44:16
to be able to actually launch the world's biggest investing club.
44:19
There's so much stuff that we've been working on.
44:21
And yeah, the fact that we now have a little team,
44:24
the other day we went and had a look at this really cute office
44:27
in shortage in London.
44:29
And we were standing in this empty office
44:31
and I was looking around just like,
44:33
this is absolutely outrageous.
44:35
That we were so unaware of what we were embarking on
44:39
or the fact that this would actually impact so many people's lives.
44:42
And the fact that we're getting a cool office space
44:45
without amazing employees is like six of us now.
44:48
It's just it's definitely a moment to I think celebrate
44:52
with ourselves, but also massively with everyone
44:55
who's listened to this podcast.
44:57
Because if you hadn't listened to 200 hours of us rambling on,
45:01
trying to educate and help close the investing gap,
45:05
like I love this thing actually,
45:07
it's some from girls and investors.
45:08
She says, never self made, always community made.
45:11
And I just think that's so true, particularly for us.
45:15
Like everyone who shares this content and listens
45:18
and gives us their intimate stories of their financial situations
45:22
is like the only reason that we can keep going.
45:24
So yeah, thank you for listening all the time.
45:28
You've listened.
45:29
And we'll show you some pictures of the office
45:30
when we've moved in.
45:32
Before we end this episode,
45:34
I thought a really cool, almost like full circle moment
45:38
is to touch on the episode that went out last week.
45:42
We spoke to Olive and Emma Pickering,
45:44
so Olive's for and her mum Emma.
45:46
Oh, she's so cute.
45:48
It has been listening to the podcast
45:50
and her daughter Olive has been listening
45:52
and started to become curious about what investing is
45:55
and learning about money.
45:56
And we got the most gorgeous email from Emma just saying,
45:59
thank you for helping me talk to my four-year-old about money.
46:02
And I was just laughing before.
46:04
I was like, actually, let's just play a little snippet.
46:07
Okay, Olive.
46:09
Do you have some of your own money?
46:11
Oh, right there.
46:12
Okay. What do you do with your money?
46:14
We spend some.
46:15
We save some.
46:17
And we stuck some.
46:19
And where do you get money from to go in there?
46:21
For bank and money and grandpa.
46:24
And so when you get money from them,
46:26
and we take the money out of your money box,
46:28
we put some into your...
46:30
My purse.
46:31
And then we put some into the...
46:33
Bank.
46:34
Yep, into your safe.
46:35
Seven.
46:36
And then what do we do with the other pile?
46:39
It goes into your inn.
46:40
Visiting.
46:41
Good girl.
46:42
Do you know what investments are?
46:44
Yes.
46:45
Family bits of company.
46:46
Good girl.
46:47
And why would we want to buy little bits of companies?
46:49
So our money gets bigger.
46:51
Yeah, so as the companies get bigger, our money gets bigger.
46:53
And what are you going to buy when you've got lots of money?
46:55
Scissors.
46:56
And that's all I'm trying to do with the kids, really, with Olive,
47:00
is to take to that that it is,
47:03
that it's sort of second nature to her,
47:05
so that she doesn't have to think about it in the future.
47:07
And I don't know if it'll work.
47:09
I don't know if her little exuberant personality
47:12
is going to track the same organised way that mine does.
47:16
But if I can try and with real consistency of effort,
47:21
get her to a place where that's just what we do.
47:24
Yeah.
47:25
Then hopefully she'll be in a bit of space than I was as a young person.
47:31
I just can't believe that a four-year-old knows more about investing
47:35
than I did at 30 years old.
47:37
Like that's kind of for me a bit of a wall.
47:40
I reckon she's one to watch.
47:42
And I reckon fast forward like 10 years, 20 years,
47:46
she's going to be this like follicle, the next Warren Buffet.
47:49
I was about to say, do you think she'll be like,
47:51
the Warren Buffet or something?
47:52
Yeah.
47:55
So we need to stop it.
47:58
We should send, we should send a little collector.
48:01
Oh, was it? And see if he is like, oh my God.
48:04
Oh my God.
48:05
Would that be a Warren Chatterter Olive star?
48:08
Oh my God.
48:09
I would be there.
48:10
It's so cute.
48:11
Yeah.
48:12
Yeah, I'd be like, hey.
48:13
It'd be inside.
48:14
It'd be embarrassing to hang on.
48:15
Hey, hey, hey, hey, Warren.
48:17
Before we finish, I wanted to just say,
48:19
we have created a new email account,
48:22
which is called helloatthecurveplatform.com.
48:25
We're going to put it in the show notes to the podcast.
48:27
But you know, just thinking big blue sky,
48:29
looking to the next 200 episodes,
48:31
it'd be really amazing.
48:33
I feel like, gosh, I'd love to hear or learn more about this.
48:36
I feel free to send us an email,
48:38
because we are in planning mode.
48:40
And we want to make sure that the next 200 episodes
48:43
are just as educational as, you know, like, hopefully,
48:47
the last 200 have been.
48:49
And any idea would be awesome.
48:52
But I don't want to talk about tax.
48:54
Oh my God, yeah.
48:55
But Kate's tax.
48:56
We might need to just get an expert.
48:58
I think that every time I'm like, oh, babe.
49:00
This message came in.
49:01
So I want to talk about tax.
49:03
But I am happy to contract that one out.
49:05
I'm trying to make finance fun.
49:07
Trying to make tax fun.
49:08
That is hard work.
49:10
Yeah, fair.
49:11
Sorry, any tax accountant's tax lawyers.
49:14
Yep.
49:15
I want to round this out.
49:16
So with like, what is the thing over the last 200 episodes?
49:19
The last kind of three in a bit years.
49:22
What's the biggest thing you're proud of
49:24
that you've achieved or learnt about your own relationship
49:27
with money, business, career?
49:29
I guess a bit of self discovery.
49:30
Oh my God, that's huge.
49:32
That's really shit.
49:34
I...
49:38
This is beautiful.
49:39
I hand on her.
49:41
Sorry, I know.
49:42
But I just, I don't want this to be like, not truthful.
49:45
I never, ever, ever thought.
49:51
I never thought that I was talented enough
49:54
or smart enough to ever be someone who,
50:00
and inverted commas was good with money.
50:03
And I definitely, I'm not saying I feel like I'm good with money.
50:07
I still have blowouts.
50:08
But I think what I've learnt is even you don't feel like you're good with money
50:11
and you're a finance expert.
50:13
And there's so much to be said for knowledge being power.
50:18
And my God, the amount that I've learnt
50:22
and the confidence that it has given me
50:27
to know that I can do whatever I want in my life,
50:30
career-wise, with my time, I would never,
50:34
ever, doesn't matter how many jobs I had
50:36
or how many amazing bosses I had,
50:38
unless I'd had access to this information,
50:40
all of that would be irrelevant.
50:42
Because you can work so hard on a salary
50:45
and be getting your two and a half thousand pay rise every year.
50:48
I think my whole mindset is not,
50:51
how can I save a dollar?
50:52
It's how can I make a dollar?
50:54
And that is a huge mindset shift.
50:58
And I think it's just the idea that,
51:00
yeah, I believe in my capacity to earn and make
51:03
and invest money to look after myself,
51:06
which I genuinely, yeah,
51:09
I was always so scared of my future,
51:11
and now I don't feel that way.
51:13
And three years is so short in the scheme of things.
51:18
The fact that you have learnt
51:20
and improved your financial situation
51:22
in that space of time,
51:24
that is so quick in the scheme of things.
51:27
If you think of your entire life,
51:29
and I don't know, I just feel like a lot of people
51:32
think they can't learn this,
51:34
or it takes a lot of time,
51:36
or it takes a lot of effort,
51:37
or it's not for them,
51:38
or they, yeah, it's not a world
51:40
that they ever see themselves.
51:42
But it's like, I think you're a walking example
51:44
of that is so not true,
51:46
that this is a world for your run.
51:48
It should be a world for everyone.
51:50
And I hope that if you have listened
51:53
to any of the last 100 episodes,
51:55
you will, I'm starting to realise
51:57
that it is a world for you.
51:59
It's a world for everyone.
52:00
And I think two things.
52:02
Thank you for taking a massive baker
52:05
and for taking a step into the unknown,
52:08
which I know for you is a,
52:09
oh, who's here, you think?
52:11
And start a business and deal with me.
52:15
And also, I think,
52:18
God, I don't want to cry.
52:21
It's just like, shut up.
52:22
So if I'm going to just stop.
52:23
But I want to ask the reverse to you,
52:25
have you in the last 200 episodes
52:28
learnt more in regards to your money
52:31
and the way you interact with money
52:33
and the way that you invest,
52:34
differently when you are a full-time employee
52:36
in the finance space?
52:37
100%.
52:39
100%.
52:40
I think the biggest learning for me
52:42
when it comes to money
52:43
and just like through the curve
52:45
and educating is how ingrained
52:49
our money, stories and behaviours
52:52
and habits are from when we're younger.
52:55
Like, I don't think I unpacked all of that.
52:57
I don't think I understood all of that
52:59
as much as I do now.
53:01
And that's not to say we can't change that at all.
53:04
It's just an understanding
53:06
and it's like getting to the root of
53:09
why you might be spending so much,
53:11
why you might be bad with money,
53:14
why you might be investing too much.
53:16
You know, it's like there's so many things.
53:18
I think it's just having that understanding
53:21
and changing what you want to change
53:23
and being aware of it
53:24
and having that awareness.
53:26
That's probably one of the biggest
53:28
learning experiences for me.
53:30
And from a personal level,
53:31
I think it's also,
53:33
probably more of a business level as well,
53:35
like we're more resilient than we think we are as humans.
53:38
We need to give ourselves credit that
53:41
if we've got the knowledge and the tools
53:43
and the people around us,
53:45
we can kind of achieve,
53:47
that sounds cliche,
53:48
but like we can achieve, you know,
53:50
things we might not have thought we could.
53:52
And I think, yeah,
53:53
there will be setbacks in life.
53:56
There will be times
53:57
when you put in really good money habits
53:59
and then, you know,
54:01
or like, you have an emergency
54:02
and you just use your emergency for C fund.
54:04
But I think, yeah,
54:06
you're more resilient than you think.
54:07
And if you put the tools in place,
54:10
it can be a really,
54:11
it can be a much less stressful future money-wise.
54:14
Yes.
54:15
I also want to challenge everyone listening
54:18
just in the spirit of the 200th episode.
54:21
Someone that you know is a versatile money
54:23
or like has never really opened that can of worms
54:25
because let's be honest,
54:26
we all are until a certain point, right?
54:28
Like it takes some kind of emotional event
54:30
to be like, yeah, I can get a learn more.
54:32
I've seen them in an early episode
54:34
that you think that they'll find fun
54:36
and see if they resonate.
54:37
Be like, oh, I think you need to listen to this.
54:39
It's really fun.
54:40
Yeah.
54:41
Because I do think that the idea of,
54:42
like, listening to a podcast about money
54:43
sounds absolutely boring and like,
54:45
snooze fest.
54:46
But hopefully...
54:48
We're fun, they promise.
54:49
Yeah, well, as much as they hopefully,
54:50
all the...
54:51
it's like going for a run.
54:52
All you've got to just put your shoes on.
54:53
Yeah.
54:54
Just press play on one episode
54:55
and maybe sending that to people who you know
54:57
are not currently financially empowered
54:59
could really change their life.
55:00
Okay, I...
55:02
and probably at the time that this goes out,
55:04
hopefully, lying on a beach initially.
55:06
So...
55:07
which I would not have been able to pay for.
55:10
Had it not been for the curve.
55:13
So thank you all for my holiday.
55:16
Thank you for being here.
55:18
Oh, that's good.
55:21
Thank you so much for listening to Raising the Curve.
55:24
These conversations are designed
55:26
to teach you everything that you need to know
55:28
to be better with your money.
55:29
From saving, to investing,
55:31
to talking to your friends about your salaries.
55:33
And if you liked what you heard,
55:35
we would love it.
55:36
If you could hit subscribe button, please.
55:38
Or...
55:39
Or...
55:40
Leave a review.
55:41
It'll only take five seconds.
55:42
And it would really make our week.
55:44
Oh yeah.
55:45
Our month.
55:46
Okay, lots of love. See you soon.
55:47
Bye.