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Girl Math Your Way To Wealth · She's On The Money

• 0:00
  Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yr
• 0:04
  Speaker 1: the Order KERNI Whoalbury and a waddery woman. And before
• 0:08
  Speaker 1: we get started on She's on the Money podcast, I
• 0:11
  Speaker 1: would like to acknowledge the traditional custodians of the land
• 0:14
  Speaker 1: of which this podcast is recorded on a wondery country,
• 0:18
  Speaker 1: acknowledging the elders, the ancestors and the next generation coming
• 0:22
  Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing
• 0:27
  Speaker 1: and the storytelling of you to make a difference for
• 0:30
  Speaker 1: today and lasting impact for tomorrow.
• 0:33
  Speaker 2: Let's get into it.
• 0:34
  Speaker 3: She's on the Money. She's on the Money.
• 0:57
  Speaker 4: Hello and welcomed. She's on the Money podcast for millennials
• 1:01
  Speaker 4: who want financial freedom and who love girl Math. No,
• 1:04
  Speaker 4: we do not, I personally you love girl math, love
• 1:08
  Speaker 4: girl Math. We canceling girl Math.
• 1:10
  Speaker 2: Carry on?
• 1:10
  Speaker 4: Okay, Well, we'll see by the end of the episode.
• 1:13
  Speaker 4: My name, of course is Beckside and with me is
• 1:16
  Speaker 4: Victoria Divine.
• 1:17
  Speaker 5: Yes, I guess that's as a spoiler of the show.
• 1:20
  Speaker 5: Today we are talking about girl math, but in a
• 1:22
  Speaker 5: different way.
• 1:23
  Speaker 2: My friend Ah.
• 1:25
  Speaker 5: Obviously, after the break, we will tell you about how
• 1:27
  Speaker 5: to flip the script and make girl math work for
• 1:30
  Speaker 5: you and your investment goals. But hmmm, let's start at
• 1:33
  Speaker 5: to start, Beck.
• 1:34
  Speaker 4: Let's do it. So for the uninitiated, what is girl math?
• 1:38
  Speaker 2: Girl math?
• 1:39
  Speaker 5: It started as a TikTok trend actually, and it is
• 1:42
  Speaker 5: a little strategy for justifying your larger or unnecessary purchases.
• 1:47
  Speaker 5: Beck love it so at its core from my perspective,
• 1:50
  Speaker 5: because we all have opinions, doesn't mean I need to
• 1:53
  Speaker 5: see them. But at its called girl math is a
• 1:55
  Speaker 5: send up of the patriarchal stereotype that with it don't
• 1:58
  Speaker 5: understand how money works, can't be trusted with it, Beck,
• 2:02
  Speaker 5: which obviously is going to rub me the absolute wrong
• 2:04
  Speaker 5: way from the shit go. But sometimes jokes can work
• 2:08
  Speaker 5: to reinforce stereotypes. And I guess that's why it rubs
• 2:13
  Speaker 5: me the wrong way because at its collbec girl math
• 2:16
  Speaker 5: is sexist.
• 2:17
  Speaker 2: Has all get out.
• 2:19
  Speaker 5: Boy math doesn't exist because it's not actually funny, Like
• 2:22
  Speaker 5: it's true.
• 2:22
  Speaker 2: You know, I said, ha.
• 2:23
  Speaker 5: Hah, my husband justifies his golf habit by boymthing it away.
• 2:29
  Speaker 5: You'd be like, what that doesn't make sense, But girl
• 2:32
  Speaker 5: mouth it's funny because women we're useless at money right,
• 2:35
  Speaker 5: were dum dumbs.
• 2:36
  Speaker 2: Obviously, as a culture.
• 2:37
  Speaker 5: We just accept that men's decisions are inherently valid and reasonable.
• 2:41
  Speaker 5: So therefore boymouth it just isn't funny, it's not comedy, effec.
• 2:45
  Speaker 5: But the phenomenon of girl mouth really does tell you
• 2:48
  Speaker 5: a lot about the interplay between.
• 2:50
  Speaker 2: Gender, money, and emotions.
• 2:51
  Speaker 5: And I think that that is a really good episode
• 2:54
  Speaker 5: for a podcast. So I took the girl math trend
• 2:57
  Speaker 5: off TikTok and I popped it in to your ears
• 3:00
  Speaker 5: my friends, and I thank you for it personally, and
• 3:03
  Speaker 5: I'm sure I think it'll be fun because we've got opinions, beck, I,
• 3:07
  Speaker 5: can you give us some examples of girl math? Okay, So,
• 3:10
  Speaker 5: if you've got cash back for something, Beck, So you.
• 3:12
  Speaker 2: Broke a CRISP fifty.
• 3:14
  Speaker 5: Dollars pineapple and they gave you a twenty dollar note pack,
• 3:17
  Speaker 5: that cash back free money. Lots of people see it
• 3:19
  Speaker 5: that way. If I paid with my credit card and
• 3:21
  Speaker 5: then someone gave me cash for their share, I basically
• 3:24
  Speaker 5: made money. If my favorite stores got a twenty percent discount, Lululemon,
• 3:29
  Speaker 5: cough it up, I'm losing money, Beck if I don't
• 3:32
  Speaker 5: buy what I want, because like that's an opportunity since
• 3:36
  Speaker 5: me checks out if something costs three hundred and forty
• 3:38
  Speaker 5: five dollars, beck, we round it down to three hundred
• 3:40
  Speaker 5: dollars when telling our partners.
• 3:42
  Speaker 4: Currently, all sounds right up my alley.
• 3:44
  Speaker 2: That's girl math.
• 3:45
  Speaker 5: Yes's the crux of it, my friend, I really really
• 3:49
  Speaker 5: enjoy this, and I think I'm going to really enjoy
• 3:51
  Speaker 5: this episode. If it's spicy. It is not even spicy.
• 3:53
  Speaker 5: It's me just being mad because I'm like, sit down, Yeah,
• 3:57
  Speaker 5: that's fair. So how does the patriarchy play out when
• 4:00
  Speaker 5: it comes to what women earn and how we spend
• 4:02
  Speaker 5: in our perceptions around managing money? All right, so let's
• 4:05
  Speaker 5: start off with the cold hard facts. Australia's national gender
• 4:09
  Speaker 5: pay gap right now as of today is thirteen percent steep.
• 4:13
  Speaker 5: As of May twenty twenty three, the full time adult
• 4:16
  Speaker 5: weekly ordinary time earnings across all industries and all occupations
• 4:21
  Speaker 5: was nineteen hundred and thirty eight dollars and thirty cents
• 4:25
  Speaker 5: back for men and sixteen hundred and eighty six dollars
• 4:28
  Speaker 5: for women. So for every dollar on average that a
• 4:31
  Speaker 5: man earns, a woman earns eighty seven cents. That is
• 4:34
  Speaker 5: equivalent to two hundred and fifty two dollars thirty less
• 4:37
  Speaker 5: each and every single week that women earning comparison to
• 4:41
  Speaker 5: men over the course of the year. That adds up
• 4:43
  Speaker 5: to thirteen thousand, one hundred and nineteen dollars and sixty cents.
• 4:47
  Speaker 5: And if I extrapolate that out, and let's pretend hypothetically,
• 4:51
  Speaker 5: if you had an additional two hundred and fifty two
• 4:53
  Speaker 5: dollars thirty each and every single week beck to invest,
• 4:58
  Speaker 5: you'd be more than a million dollars better off in retirement.
• 5:01
  Speaker 2: Wow wow wow wow wow.
• 5:02
  Speaker 5: Okay, when you put it like that exactly, and if
• 5:05
  Speaker 5: I really wanted to extrapolate it out over the course
• 5:07
  Speaker 5: of your lifetime, it's more than six million dollars. So
• 5:09
  Speaker 5: that's six million reasons why we need to care a
• 5:12
  Speaker 5: lot more about the gender.
• 5:14
  Speaker 2: Pay gap, because that's cooked.
• 5:16
  Speaker 5: You know what you can do with six million dollars?
• 5:18
  Speaker 4: What can you do?
• 5:19
  Speaker 5: I can't even tell you because there's just endless amounts
• 5:21
  Speaker 5: of things that you could do with that level of
• 5:23
  Speaker 5: freedom up absolutely exactly. So we know from our community
• 5:28
  Speaker 5: that women have lower financial self efficacy, so the belief
• 5:31
  Speaker 5: in their own abilities compared to men, and that's why
• 5:34
  Speaker 5: she's on The money exists and yet women, you know
• 5:38
  Speaker 5: what we do. We control eighty percent of the consumer
• 5:41
  Speaker 5: spend globally. Wow, so we control the money, but we
• 5:44
  Speaker 5: don't get to make it.
• 5:45
  Speaker 2: What the heck? And true?
• 5:47
  Speaker 4: That seems very interesting, Well the heck and I hate it.
• 5:50
  Speaker 4: I do hate that. Actually, I see what you're saying.
• 5:52
  Speaker 4: I can see where the arroage is coming from. Now, V,
• 5:55
  Speaker 4: let's go for a really quick break. And already, oh
• 5:58
  Speaker 4: my god, I know, I know, but it's decided we
• 6:01
  Speaker 4: will have a look at how to flip the script
• 6:03
  Speaker 4: and make girl Math work for your investment goals.
• 6:05
  Speaker 2: I'm ready, let's go.
• 6:06
  Speaker 4: Let's go. OKAYV, we are back.
• 6:12
  Speaker 5: And I'm very excited about this because it's now time
• 6:14
  Speaker 5: to flip the script.
• 6:15
  Speaker 4: It is, if it even is possible, how can we
• 6:18
  Speaker 4: make girl Math work for us?
• 6:20
  Speaker 5: All Right? So obviously I'm a bit salty because I
• 6:24
  Speaker 5: feel like all these videos are just I don't know,
• 6:27
  Speaker 5: you see it, and they're like, oh, I girl math
• 6:28
  Speaker 5: my way into this expensive bikini for this holiday that
• 6:32
  Speaker 5: I'm going on, and if I buy it now, like
• 6:34
  Speaker 5: I'm not spending the money on my holiday, And like
• 6:36
  Speaker 5: I could wear it after my holiday, and you just go,
• 6:38
  Speaker 5: I know that you will have a better time, you know,
• 6:40
  Speaker 5: feeling good about yourself on the holiday. But we don't
• 6:43
  Speaker 5: need to actually flush the idea of making sound financial
• 6:48
  Speaker 5: decisions down the toilet, Like, Beck, let's just say you're
• 6:51
  Speaker 5: going on a holiday and you really want to buy
• 6:52
  Speaker 5: a bikini.
• 6:53
  Speaker 2: It's two hundred bucks.
• 6:54
  Speaker 5: Why don't you just make that decision in a financially
• 6:58
  Speaker 5: responsible way, like let's have a look at your by
• 7:00
  Speaker 5: can you afford it? And you're like, go, yeah, it
• 7:01
  Speaker 5: can be. They go, great, Well, you don't need to
• 7:03
  Speaker 5: justify it. You don't need to actually go, oh well, actually,
• 7:07
  Speaker 5: ABC and D adds up. So therefore, this bikini technically
• 7:11
  Speaker 5: only costs me a dollar, Like there's a lot to it.
• 7:14
  Speaker 5: And obviously girl math is a combination of three different principles.
• 7:18
  Speaker 5: So the first is cost per war, which we've talked
• 7:20
  Speaker 5: about before, because I think that everybody in general should
• 7:23
  Speaker 5: be more conscious about what they're purchasing, Like you're wearing
• 7:26
  Speaker 5: a real cool brown T shirt today, but like I'm
• 7:29
  Speaker 5: sure when you bought it you were like, oh, I'm
• 7:30
  Speaker 5: probably going to get a heap of wear out of this.
• 7:32
  Speaker 5: Like it's the same as the dress I'm wearing today.
• 7:34
  Speaker 5: I'm like, great, Like it's stretchy, it works, it's comfortable.
• 7:37
  Speaker 5: I'm going to purchase these because it's going to get
• 7:40
  Speaker 5: a lot of wear. I think we should all have
• 7:41
  Speaker 5: that cap on when making purchases because it's just the
• 7:44
  Speaker 5: financially responsible way to do it. But this concept of
• 7:48
  Speaker 5: cost per wear, that is the cost of an item
• 7:51
  Speaker 5: divided by how many times you use it. Obviously lower
• 7:54
  Speaker 5: is the cost of wear, but girl Math kind of
• 7:56
  Speaker 5: takes it to the next level. So like, you know,
• 7:59
  Speaker 5: if you're buying a tote bag, obviously you can use
• 8:02
  Speaker 5: it for lots of different things. But I think that
• 8:05
  Speaker 5: it justifies unnecessary purchases when we put it into the
• 8:09
  Speaker 5: girl Math I guess phrase right, or into the girl
• 8:12
  Speaker 5: math realm, because you go, Okay, well maybe you did
• 8:15
  Speaker 5: need a tote bag and if that's the case, well
• 8:17
  Speaker 5: let's justify it and buy one that aligns to your
• 8:20
  Speaker 5: budget and your needs and how often you're going to
• 8:22
  Speaker 5: use it. And maybe back you don't buy the bright
• 8:24
  Speaker 5: red one because you can get less aware out of it,
• 8:26
  Speaker 5: like you might not take it to work is often
• 8:28
  Speaker 5: because it doesn't match your outfit, maybe a more neutral
• 8:30
  Speaker 5: option would work. Yeah, but like if you need to
• 8:33
  Speaker 5: buy the tote, it should be in your budget, Like
• 8:36
  Speaker 5: it shouldn't be like justified as basically being free because
• 8:39
  Speaker 5: I'm going to use it so often, do you know
• 8:41
  Speaker 5: what I mean?
• 8:41
  Speaker 2: Like, yeah, see, we are smarter than this.
• 8:44
  Speaker 5: The second of the three economic principles that I guess
• 8:47
  Speaker 5: make up girl Mouth is sunk cost.
• 8:50
  Speaker 2: So sunk cost fallacy.
• 8:52
  Speaker 5: It means that the money that's been spent can't ever
• 8:54
  Speaker 5: be recovered. So basically, if it's left my account, I've
• 8:57
  Speaker 5: spent it.
• 8:58
  Speaker 2: It's gone.
• 8:59
  Speaker 5: So like if you've got to funnd Beck on the
• 9:01
  Speaker 5: brown top because you decided you no longer liked it,
• 9:03
  Speaker 5: and they paid it out in cash, You're like, that's
• 9:05
  Speaker 5: free money, free money, Like that's a really bad terminology. Obviously,
• 9:10
  Speaker 5: if you get that money back, it probably should just
• 9:13
  Speaker 5: go back into your bank account. But instead you'll go,
• 9:15
  Speaker 5: oh my gosh, I'm going to use this for drinks
• 9:17
  Speaker 5: on Friday nights. It's free money, and I've got it
• 9:18
  Speaker 5: in cash and I've already spent it.
• 9:20
  Speaker 2: Does that make sense?
• 9:21
  Speaker 4: That makes sense. That sounds very.
• 9:23
  Speaker 2: Close to home.
• 9:24
  Speaker 5: And I was like the herd concept is prospective costs,
• 9:27
  Speaker 5: so that basically translates to future costs that might be
• 9:30
  Speaker 5: avoided if you take action today. Okay, so the girl
• 9:33
  Speaker 5: math example there is if a coat I want is
• 9:36
  Speaker 5: sixty five percent off over summer, because that sometimes happens,
• 9:41
  Speaker 5: buying it means that I avoid the future cost of
• 9:43
  Speaker 5: waiting until winter when it's back to full price. So
• 9:46
  Speaker 5: that's quite smart, yes, But people are justifying purchasing things
• 9:50
  Speaker 5: just because they're cheap. Hey, oh my gosh, I'll wear
• 9:52
  Speaker 5: this in winter. But then when winter rolls around, you're like,
• 9:55
  Speaker 5: that's not in fashion.
• 9:56
  Speaker 2: I'm not gonna wear that.
• 9:57
  Speaker 5: I just picked that up because it was a good
• 9:58
  Speaker 5: brand and because was cheap and full stop, end of story,
• 10:02
  Speaker 5: that's it. But like, you're not actually saving yourself any money.
• 10:05
  Speaker 4: Yes, it might even be spending more because by the
• 10:08
  Speaker 4: time winter comes around again, you've got a whole different
• 10:11
  Speaker 4: set of little.
• 10:12
  Speaker 2: Exactly, like you might not be into brown T shirts anymore.
• 10:15
  Speaker 6: There.
• 10:17
  Speaker 5: So I think it's again going back to this idea
• 10:21
  Speaker 5: that women aren't smart at money, when we are. At
• 10:24
  Speaker 5: the end of the day, everyone can understand money. It's
• 10:28
  Speaker 5: literally just a language. You haven't learnt yet if you
• 10:30
  Speaker 5: don't get it, Like you speak perfectly fluent English, Beck,
• 10:34
  Speaker 5: But do you know what? There are millions of people
• 10:36
  Speaker 5: around the world who can't speak English who are learning
• 10:39
  Speaker 5: English currently, And you wouldn't expect them to pick up
• 10:42
  Speaker 5: my shoes on the money book yesterday and go, oh,
• 10:44
  Speaker 5: I totally am able to read this. Yes, they would
• 10:47
  Speaker 5: start with the basics of Hi, my name's Beck.
• 10:49
  Speaker 2: How are you like? Do you know what I mean?
• 10:51
  Speaker 2: When you're learning a new language?
• 10:52
  Speaker 4: Where do you start from the top?
• 10:54
  Speaker 6: Baby?
• 10:54
  Speaker 3: But you like to.
• 10:55
  Speaker 5: Start with how to count from one to ten? You
• 10:58
  Speaker 5: start with hello, You start with sick phrases, You start
• 11:01
  Speaker 5: with how to order a coffee in a different language.
• 11:04
  Speaker 5: You don't start with fully understanding what an ETF is
• 11:07
  Speaker 5: and the difference between an ETF and a managed fun
• 11:10
  Speaker 5: Do you sure? Because that would be overwhelming and ridiculous.
• 11:12
  Speaker 5: But somehow we put this pressure on ourselves to fully
• 11:15
  Speaker 5: understand that when you don't even know how to run
• 11:18
  Speaker 5: a banking and cash flow system for yourself, sure, So like,
• 11:21
  Speaker 5: push all of that.
• 11:22
  Speaker 2: Off the table.
• 11:22
  Speaker 5: Women are not done with money. We just haven't been
• 11:24
  Speaker 5: taught exactly right. Fee, I like that that's really so angry. Yeah,
• 11:29
  Speaker 5: that was a real bike drop moment.
• 11:31
  Speaker 2: Oh thanks, So how to pick up the mic again?
• 11:33
  Speaker 2: We're not done this podcast?
• 11:34
  Speaker 1: Sure?
• 11:34
  Speaker 4: Actually does pep that back up?
• 11:35
  Speaker 2: Don't drop that?
• 11:36
  Speaker 4: How can we flip the script on girl Math and
• 11:38
  Speaker 4: make it genuinely work for us to support our investment goal?
• 11:41
  Speaker 5: Genius or I think it's genius. But if you can
• 11:45
  Speaker 5: budget for a late you best believe that. The entire
• 11:48
  Speaker 5: time I was in the US, I was drinking my
• 11:50
  Speaker 5: iced oat milk pumpkin spice latte every single day and
• 11:54
  Speaker 5: I basically girl Math my way there. I'm like, it's
• 11:56
  Speaker 5: a little treaty treat because I deserve it, right tot, Yes,
• 11:58
  Speaker 5: it's the thing in Australia. I knew you were gonna
• 12:01
  Speaker 5: ask you because Starbucks is here and they do do
• 12:03
  Speaker 5: the pumpkin spice range. I don't know if it's shop
• 12:05
  Speaker 5: now it's November, because it only was like, you know,
• 12:08
  Speaker 5: kind of full kind of Halloween.
• 12:10
  Speaker 2: But it's really good.
• 12:12
  Speaker 5: But if you can go on Math your way and
• 12:15
  Speaker 5: you can budget for a latte, you can budget to invest. Yes,
• 12:18
  Speaker 5: if you can afford to buy a shakeaway coffee, I
• 12:21
  Speaker 5: promise you can afford to invest and you can become
• 12:24
  Speaker 5: a passive investor.
• 12:25
  Speaker 2: You don't have to be super active.
• 12:27
  Speaker 5: You don't have to be a share trader at your
• 12:28
  Speaker 5: computer till all hours of the night. My friend, that's good. Snow, actually,
• 12:33
  Speaker 5: so explain this to me. What is passive investing really?
• 12:36
  Speaker 2: Sexy? Sit down?
• 12:37
  Speaker 5: Are you ready?
• 12:38
  Speaker 4: I'm ready.
• 12:38
  Speaker 5: It's this concept where you invest consistently but you don't
• 12:42
  Speaker 5: have to actively manage your investments. Yes, I know, it's
• 12:48
  Speaker 5: mainly how I invest when I'm not being a little
• 12:50
  Speaker 5: bit spicy, but it's picking an investment that might be
• 12:54
  Speaker 5: an ETF for a managed fund or something that you
• 12:57
  Speaker 5: don't have to actively manage because someone else is doing
• 12:59
  Speaker 5: it on your Bhe great, ten out of ten. But
• 13:02
  Speaker 5: the idea would be that each and every single month,
• 13:05
  Speaker 5: you would just dump a certain amount into an investment
• 13:08
  Speaker 5: and it just goes straight in there and does its
• 13:10
  Speaker 5: thing and creates your wealth. And if you have decided
• 13:14
  Speaker 5: to reinvest your dividends, you would have ticked a box
• 13:16
  Speaker 5: to say, dividend reinvestment plan please tick, which is coming
• 13:19
  Speaker 5: on shares's actually, which is very very exciting, But you
• 13:22
  Speaker 5: would tick that box. The money that your money makes
• 13:25
  Speaker 5: would then be reinvested to make more money, and you
• 13:27
  Speaker 5: don't have to do anything.
• 13:29
  Speaker 2: You just get sent a little report.
• 13:31
  Speaker 5: Come accounting time, come, you know, end of financial year,
• 13:34
  Speaker 5: and your accountant's like, oh, can I have that report
• 13:36
  Speaker 5: that your shared trading platform gave you? And you're like, you,
• 13:38
  Speaker 5: no worries, So it's just in my emails. Wow, I'm
• 13:40
  Speaker 5: an investor.
• 13:41
  Speaker 4: Now there you go.
• 13:42
  Speaker 2: I'm a big dog.
• 13:44
  Speaker 4: Can we learn anything from cost per wear calculation?
• 13:47
  Speaker 5: I mean yeah, you could calculate the cost per war
• 13:49
  Speaker 5: and then you could calculate compound interest. So like if
• 13:53
  Speaker 5: you invested a dollar today, Obviously it's not that sexy
• 13:56
  Speaker 5: to think about because you're like, eh, tomorrow, i'll check.
• 13:59
  Speaker 5: But what would that look like if you invested a
• 14:01
  Speaker 5: dollar today and then when you retire, how much is
• 14:04
  Speaker 5: that dollar going to be worth? Because we know and
• 14:06
  Speaker 5: I've said this example a million times on the podcast,
• 14:09
  Speaker 5: and I keep reiterating it because I actually want just
• 14:12
  Speaker 5: one example to stick in people's heads where they go, oh,
• 14:15
  Speaker 5: that one makes sense as opposed to giving six million
• 14:17
  Speaker 5: others where in the moment you go, that makes sense,
• 14:19
  Speaker 5: But you can't tell your friend at brunch and look
• 14:21
  Speaker 5: smarter so if you started at the age of twenty one,
• 14:24
  Speaker 5: which none of us are anymore, and to be honest,
• 14:27
  Speaker 5: we're in a cost of living crisis. So this is
• 14:29
  Speaker 5: all aspirational. So, Beck, I'm not putting pressure on you
• 14:32
  Speaker 5: to find five hundred bucks each and every single month
• 14:34
  Speaker 5: because that's cooked, right, but it's a good example to
• 14:37
  Speaker 5: help you understand how to create wealth. Right. So if
• 14:39
  Speaker 5: you took five hundred dollars each in every single month
• 14:42
  Speaker 5: from the time that you were twenty one years old,
• 14:45
  Speaker 5: and you invested that in the share market, if you
• 14:48
  Speaker 5: have invested it with an average rate of return of
• 14:51
  Speaker 5: seven and a half percent, by the time you retire,
• 14:53
  Speaker 5: you'll have an additional one point two million dollars in
• 14:56
  Speaker 5: your investment portfolio.
• 14:58
  Speaker 2: That's very success.
• 14:59
  Speaker 5: It could be completely passive, like you could just transfer
• 15:01
  Speaker 5: it out and not think about it for a really
• 15:02
  Speaker 5: long time. Yeah, but when it comes to cost per wear,
• 15:06
  Speaker 5: look how much additional money you're getting Because if you'd
• 15:09
  Speaker 5: saved that money, Like if you'd saved five hundred dollars
• 15:12
  Speaker 5: each and every single month instead of investing it, Beck,
• 15:15
  Speaker 5: you'd only have two hundred and forty thousand dollars over
• 15:17
  Speaker 5: the same period of time. That's a million dollars worth
• 15:21
  Speaker 5: of free money.
• 15:23
  Speaker 4: That's some girl math.
• 15:24
  Speaker 2: That's some girl math. That's the girl math. We're talking about.
• 15:28
  Speaker 2: Money is girl math.
• 15:29
  Speaker 5: If you think that the money in your wallet is
• 15:33
  Speaker 5: free money because it's not in your bank account, my friend,
• 15:36
  Speaker 5: let me show you real free money, not just the
• 15:39
  Speaker 5: money that you earned, and then you.
• 15:41
  Speaker 4: Spent legitimate money.
• 15:44
  Speaker 2: Put your money over here.
• 15:45
  Speaker 5: You will end up with a million dollars more than
• 15:47
  Speaker 5: what you would have if you hadn't done it.
• 15:49
  Speaker 4: Wow, I kind of want a piece of that.
• 15:51
  Speaker 5: I gotta say, I'm going to get you investing. Honestly,
• 15:54
  Speaker 5: I'm going to give it another six months and then
• 15:55
  Speaker 5: you'll have an investment portfolio and it's going to be
• 15:57
  Speaker 5: the sexiest.
• 15:58
  Speaker 2: Thing in the entire world.
• 15:59
  Speaker 4: Thank you, Val, I'm very excited about it. Okay, So
• 16:02
  Speaker 4: here's one that resonates with me. You did speak before
• 16:04
  Speaker 4: about prospective costs and the idea of hitting up sales
• 16:07
  Speaker 4: now to save money in the future.
• 16:09
  Speaker 2: Again, like, it's not the worst idea, is it.
• 16:10
  Speaker 4: Yeah, that's kind of like what I do.
• 16:12
  Speaker 5: I think we need to just keep our heads screwed
• 16:15
  Speaker 5: on when it comes to spending, right, so all of
• 16:18
  Speaker 5: that wieling dealing and hunting for a bargain has some
• 16:21
  Speaker 5: similarities to I guess portfolio theory, like how many times
• 16:25
  Speaker 5: I don't know if you've done this, but like, let's
• 16:27
  Speaker 5: pretend there's a dress I want to buy. It's really expensive,
• 16:29
  Speaker 5: it's five hundred dollar dress. You best believe I am
• 16:33
  Speaker 5: gonna try the dress on be like yep, Okay, I
• 16:35
  Speaker 5: really really want this, but I'm not spending five hundred
• 16:37
  Speaker 5: dollars on it. I'm going to go home and going
• 16:39
  Speaker 5: to google it. You're going to see when it came out,
• 16:41
  Speaker 5: don't we reckon? It's going to go on sale soon.
• 16:43
  Speaker 5: I'm not sure. I'm going to see what other retailers
• 16:45
  Speaker 5: have it. Do they have like a price match or
• 16:47
  Speaker 5: a guarantee or something? Are they cheaper? Once I found
• 16:50
  Speaker 5: it at a price point that I want to buy
• 16:52
  Speaker 5: it at. You best believe I'm going to be going
• 16:54
  Speaker 5: on shot back and I'm going to be making sure
• 16:56
  Speaker 5: I get my cash back. You gues believe that I'm
• 16:58
  Speaker 5: going to make sure that I have just it with
• 17:00
  Speaker 5: my flybys if I can to get some extra points, right,
• 17:03
  Speaker 5: Like how smart are we when it comes to purchasing dresses.
• 17:07
  Speaker 5: But then we're like, oh, I don't even know what
• 17:09
  Speaker 5: to do when it comes to an investment portfolio. Sure,
• 17:12
  Speaker 5: Like it's because you've never done it. Do you know
• 17:14
  Speaker 5: it's just as easy, Like it is just as easy
• 17:17
  Speaker 5: to go online and understand what an ETF gets up
• 17:19
  Speaker 5: to and how it works, and go, oh, how am
• 17:21
  Speaker 5: I going to get the best return for my money?
• 17:23
  Speaker 5: It's all there in plain English. I promise you just
• 17:25
  Speaker 5: have to start looking for it. But you're gonna think
• 17:27
  Speaker 5: it's overwhelming because you've never looked for it, right, Like,
• 17:30
  Speaker 5: do you remember the day you discovered the iconic dot
• 17:32
  Speaker 5: com dot a?
• 17:33
  Speaker 3: You?
• 17:33
  Speaker 2: You were like, what the heck can? I didn't even
• 17:35
  Speaker 2: know this website existed? And now it was like their
• 17:36
  Speaker 2: mecca for clothes.
• 17:37
  Speaker 4: Yes, very truck.
• 17:39
  Speaker 5: I remember the days when I had to like look
• 17:41
  Speaker 5: for clothes individually on individual retailers' websites. Like the world
• 17:45
  Speaker 5: is changing, my friends, And I guess there is a
• 17:48
  Speaker 5: method of choosing investments to maximize expected returns and minimize
• 17:52
  Speaker 5: risk without it being overwhelming. I promise it's not too hard.
• 17:56
  Speaker 5: But you can evaluate every single purchase and how it
• 17:58
  Speaker 5: contributes to like your shopping portfolio. You could say, so,
• 18:02
  Speaker 5: if you're a girl math shopper, you could essentially become
• 18:04
  Speaker 5: like a shopping portfolio manager.
• 18:07
  Speaker 2: I just don't see why you couldn't.
• 18:08
  Speaker 5: Yes, you've already got those skills analyzing it and going
• 18:11
  Speaker 5: all right, well, if I plug this shop back thing
• 18:13
  Speaker 5: in here and do this, and if I wait for
• 18:15
  Speaker 5: this particular day, there's going to be a sale or
• 18:17
  Speaker 5: there's going to be an increased amount of shop back
• 18:19
  Speaker 5: cash rewards.
• 18:21
  Speaker 2: Like we're smart.
• 18:22
  Speaker 5: Yeah, you are so savvy. Yeah, if you can do that,
• 18:25
  Speaker 5: my friend, you can pick an ETF totally.
• 18:27
  Speaker 4: That is a transferable skill.
• 18:30
  Speaker 2: That's really one hundred percent.
• 18:31
  Speaker 4: But we've talked about before the ways that micro investing
• 18:34
  Speaker 4: platforms make it easier to invest. What are some things
• 18:37
  Speaker 4: that platforms are currently doing.
• 18:39
  Speaker 5: Honestly, there's six million things that different investing portfolios are doing.
• 18:43
  Speaker 5: I've said before that I like micro investing platforms because
• 18:47
  Speaker 5: they kind of like the gateway drug of the investing world, right,
• 18:49
  Speaker 5: Like they're the one that you feel most comfortable taking
• 18:51
  Speaker 5: for the first time, and you go, all right, well
• 18:54
  Speaker 5: that's not too bad. All my friends are doing it.
• 18:56
  Speaker 5: It's all managed for you, like you can see the
• 18:59
  Speaker 5: ebbs and the flows of the market, Like you don't
• 19:01
  Speaker 5: have to put up a massive amount of money to
• 19:04
  Speaker 5: begin with. I obviously think that micro investing, and I've
• 19:08
  Speaker 5: said this before, it's not for long term. Like from
• 19:11
  Speaker 5: my perspective, micro investing is to get foot in the
• 19:14
  Speaker 5: water and see what's going on and get comfortable with
• 19:16
  Speaker 5: it and start to understand the market. But my understanding
• 19:20
  Speaker 5: would be that you would then graduate to a larger platform, sure,
• 19:23
  Speaker 5: because it's going to be the platform that you ultimately
• 19:26
  Speaker 5: create wealth on. And up until this point, there hasn't
• 19:30
  Speaker 5: been many share trading platforms that have enabled you to
• 19:33
  Speaker 5: use small amounts of money to invest for the first time.
• 19:36
  Speaker 5: It's kind of like they were like the Gateway because
• 19:39
  Speaker 5: you could invest with like five or ten dollars, whereas
• 19:41
  Speaker 5: bigger platforms would go, oh, we'll beck the minimum investment
• 19:44
  Speaker 5: amounts five hundred and you'd be like, well, I don't
• 19:46
  Speaker 5: want to put my life savings on a platform when
• 19:49
  Speaker 5: I haven't even dipped my toe in the water in
• 19:50
  Speaker 5: this investing world, Like what the heck? So micro investing
• 19:54
  Speaker 5: platforms kind of were that bridging the gap. But now
• 19:57
  Speaker 5: other shared trading platforms are kind of catching up, going, hey,
• 20:00
  Speaker 5: our consumers really want that micro investing platform experience without
• 20:05
  Speaker 5: having to change platforms later. And that's where a platform
• 20:08
  Speaker 5: like shares is coming because they do all of that.
• 20:10
  Speaker 5: And I'm not just plugging shares Is because I work
• 20:12
  Speaker 5: with them. I'm literally looking at it going, hey, here's
• 20:15
  Speaker 5: a really great option if this is what you're looking for. Sure,
• 20:18
  Speaker 5: So there's lots of different things. Obviously, shares Is enable
• 20:22
  Speaker 5: you to invest with a really low amount of money.
• 20:24
  Speaker 5: They want to give the same opportunity that someone with
• 20:26
  Speaker 5: five million dollars has to someone with five dollars to
• 20:29
  Speaker 5: create wealth, and I think that that is a beautiful strategy.
• 20:32
  Speaker 5: But they're implementing things like automatic dividend reinvestment plans, which
• 20:36
  Speaker 5: we think is really sexy. They have roundups, which a
• 20:39
  Speaker 5: lot of microinvesting platforms do. The two most popular micro
• 20:42
  Speaker 5: investing platforms in our community are Raise and Spaceship. We
• 20:46
  Speaker 5: have done episodes on this, so please go back and
• 20:49
  Speaker 5: listen to that because I'm not going to get into
• 20:50
  Speaker 5: the semantics of the two different investing platforms, but essentially,
• 20:54
  Speaker 5: Rais invests in different risk profiles and alignance and etf
• 20:58
  Speaker 5: to you, whereas Spaceship is more of a managed fund.
• 21:01
  Speaker 5: If that's not making any sense, I did a whole
• 21:03
  Speaker 5: episode on what micro investing platforms do, how they work,
• 21:07
  Speaker 5: and how they're structured. But there's just lots of different options,
• 21:10
  Speaker 5: and I think that if you can start investing with
• 21:14
  Speaker 5: a small amount of money, you can use something like
• 21:16
  Speaker 5: a roundup. So beck, every time you buy a coffee,
• 21:18
  Speaker 5: it might be like, let's pretend you're not buying it
• 21:21
  Speaker 5: England are, so it's not six dollars fifty seven dollars. Right,
• 21:24
  Speaker 5: Let's pretend your coffee with six dollars fifty this morning. Sure,
• 21:27
  Speaker 5: every time your bank saw that transaction of six dollars
• 21:30
  Speaker 5: fifty on your phone, it would automatically round that purchase
• 21:32
  Speaker 5: off to seven dollars and invest fifty cents for you.
• 21:35
  Speaker 5: So you're consistently investing with your everyday purchases, but you
• 21:39
  Speaker 5: don't really feel it because like, what's fifty cents when
• 21:41
  Speaker 5: you're already spending six dollars fifty.
• 21:43
  Speaker 4: That's a good idea.
• 21:44
  Speaker 5: So like is coincidental investing? Yes, also automating, So if
• 21:49
  Speaker 5: you can automate your investments and go all right, well,
• 21:52
  Speaker 5: I can't be trusted.
• 21:53
  Speaker 2: Let's be honest.
• 21:53
  Speaker 5: I'm Victoria, Like, I have to have everything automated, otherwise
• 21:56
  Speaker 5: it doesn't work. So I have to make sure that
• 21:59
  Speaker 5: each and every single month and I'm investing, it's just
• 22:01
  Speaker 5: direct debited from my account. I've set up an auto
• 22:03
  Speaker 5: transfer that my investment amount goes straight into my investment account.
• 22:07
  Speaker 5: But it's every single month. And if that feels like
• 22:10
  Speaker 5: a little bit too much, then go all right, well
• 22:13
  Speaker 5: I don't want to do it every month. They want
• 22:14
  Speaker 5: to do it every week, or maybe do a lower
• 22:16
  Speaker 5: amount than what you can and top it up every month.
• 22:19
  Speaker 5: But I think everyone can actually go map their way
• 22:21
  Speaker 5: to wealth. And you know, microinvesting platforms and share trading
• 22:24
  Speaker 5: investing platforms are actually really helpful nowadays and not nearly
• 22:29
  Speaker 5: as terrifying as they used to be, I promise, Like
• 22:32
  Speaker 5: their user interfaces just makes sense. You don't even need
• 22:35
  Speaker 5: a computer anymore. You can do it all via your
• 22:36
  Speaker 5: phone with a beautiful app. Like I just think that
• 22:40
  Speaker 5: if my friends, you can strategize to justify a dress
• 22:44
  Speaker 5: that you're gonna wear once, you can absolutely strategize to
• 22:47
  Speaker 5: be an investor.
• 22:49
  Speaker 4: A men sis. I love that. I want a great
• 22:52
  Speaker 4: place to leave it for today.
• 22:53
  Speaker 5: I think that's a good place to leave it, because
• 22:54
  Speaker 5: otherwise I'm going to start another feminist rant and you
• 22:57
  Speaker 5: want that from me today.
• 22:58
  Speaker 4: I kind of want that, but we will save that
• 23:00
  Speaker 4: for off, Mike.
• 23:01
  Speaker 5: We will all right, have the most beautiful week, my friends.
• 23:04
  Speaker 2: We will see you on Friday.
• 23:06
  Speaker 4: Bye, guys.
• 23:12
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• 23:15
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• 23:19
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• 23:22
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