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FRIDAY DRINKS: Afterpay Money and Insurance Exclusions · She's On The Money

0:00
Speaker 1: She's on the Money. She's on the Money.
0:23
Speaker 2: Hello, and welcome to She's on the Money, the podcast
0:26
Speaker 2: for millennials who want financial freedom. Won't come as a
0:30
Speaker 2: surprise to you that I'm introducing you to another one
0:32
Speaker 2: of our Friday Drinks episodes where we get to celebrate
0:35
Speaker 2: the money wins from our She's on the Money community.
0:38
Speaker 2: As Jess, George and I know, there are so many
0:41
Speaker 2: great money wins and confessions that are shared in Jess's
0:44
Speaker 2: thread each and every single week in our Facebook group,
0:46
Speaker 2: and this week, like every other week, we have spent
0:49
Speaker 2: a very big part of our days having a chat
0:52
Speaker 2: about them all. So this week, again we are celebrating
0:55
Speaker 2: you and we are really excited to get into it. So, Jess,
0:59
Speaker 2: what have Monday's episode?
1:01
Speaker 3: Monday's episode was a really tough listen, if I'm being honest,
1:05
Speaker 3: a little content money. It covered a lot of topics.
1:09
Speaker 3: We spoke about rape, we spoke about abuse, we spoke
1:11
Speaker 3: about chronic illness. There was a lot going on in
1:15
Speaker 3: that episode. But I think the real takeaway from me
1:18
Speaker 3: was that Money Diarist obviously went through a huge amount
1:23
Speaker 3: of trauma and has experienced so much, but she has
1:26
Speaker 3: stepped beyond that, she's worked a lot on herself and
1:29
Speaker 3: her personal growth and she's thriving.
1:32
Speaker 2: May we say, oh my gosh, she is thriving. And
1:34
Speaker 2: I think that that's the beautiful thing about that story
1:37
Speaker 2: because so many people who have chronic health issues are
1:41
Speaker 2: really financially impacted. Like, I don't want to compare situations,
1:44
Speaker 2: because we should never compare our situation to money diarists,
1:47
Speaker 2: because the reason money diaries exist is so that we
1:50
Speaker 2: can be inspired and listen to other people's stories and
1:53
Speaker 2: learn from them. But I also I'm just in awe
1:56
Speaker 2: of the fact that she's been through so much but
1:58
Speaker 2: is killing it financially her as well, Like what who
2:02
Speaker 2: is she? Where did she get her mindset? And how
2:04
Speaker 2: do we all take a leaf out of her book?
2:06
Speaker 3: Absolutely, I think as someone who's a little bit of
2:08
Speaker 3: a chronic complainer, it just put a lot of perspective
2:11
Speaker 3: on things for me. And I was like, oh, my goodness,
2:13
Speaker 3: you know what, I take a lot for granted, and
2:16
Speaker 3: I actually just sometimes need to maybe recenter, refocus, and
2:20
Speaker 3: take a leaf out of that direist's book.
2:22
Speaker 2: Honestly, she was so special. We are still in contact
2:25
Speaker 2: and I actually have had some really really beautiful messages
2:28
Speaker 2: this week from a number of people who have said, look,
2:31
Speaker 2: that episode really resonated with me, Like that was really inspirational.
2:34
Speaker 2: I've been through something similar. I've actually put our money
2:37
Speaker 2: dirested in contact with a number of our listeners because
2:40
Speaker 2: she said she was really comfortable to do that, and
2:42
Speaker 2: now they're creating this little network of support, and my
2:45
Speaker 2: heart is just so full, Like I just feel like
2:48
Speaker 2: this is what we need to be doing for our community,
2:51
Speaker 2: and supporting one another is obviously what we are all about.
2:54
Speaker 2: But you know, for someone to come through such a
2:57
Speaker 2: traumatic and crazy situation that guys, happened within twelve months,
3:02
Speaker 2: Like it's not as though this happened years and years
3:04
Speaker 2: and years ago, Like this was over the last twelve
3:07
Speaker 2: months for our money diarist to have gone, you know what,
3:10
Speaker 2: I can help people. And I remember recording with her,
3:14
Speaker 2: and you know, she's like, oh, I hope I did well, Victoria,
3:16
Speaker 2: and I was just like, girl, this is so powerful,
3:18
Speaker 2: this is so special. She's like, even if it just
3:21
Speaker 2: helps one person, like that was worth the time, and
3:23
Speaker 2: I'm like, oh, I want to be like you are
3:26
Speaker 2: so special. So that episode is absolutely worth a listen
3:30
Speaker 2: if you are comfortable with those topics. Again, it does
3:33
Speaker 2: have a pretty serious trigger warning because when we talk
3:36
Speaker 2: about topics like rape, especially on She's on the Money,
3:40
Speaker 2: I want to be having a candid conversation. I don't
3:43
Speaker 2: want to be skirting around these topics and you know, tiptoeing.
3:47
Speaker 2: I want to be like, well, how did that impact you?
3:50
Speaker 2: How did that impact them? What is going on? How
3:52
Speaker 2: can we help? What did that mean? Because we can't
3:55
Speaker 2: learn unless we ask these questions. And I just I
3:58
Speaker 2: feel like i learned so much from that episode, and
4:01
Speaker 2: I'm just so grateful that she was so willing to
4:04
Speaker 2: share that story with our community. So special agreed, and Georgia,
4:08
Speaker 2: let's segue away from that. What happened on our Deep
4:11
Speaker 2: Dive episode on Wednesday.
4:13
Speaker 4: So on Wednesday it was slightly lighter content. We spoke
4:17
Speaker 4: about impulse spending.
4:18
Speaker 2: I was very angry on this episode.
4:21
Speaker 4: You were very angry, and that is, of course, because
4:23
Speaker 4: we were talking about after Pay at the top, who,
4:26
Speaker 4: as the majority of our listeners would know, have infiltrated
4:30
Speaker 4: the hospitality industry. So we had mixed feels about that. Hey,
4:36
Speaker 4: j Rick, what are your thoughts on that? We haven't
4:38
Speaker 4: heard from you.
4:40
Speaker 3: I for hospitality specifically, I really dislike it. It's hard
4:46
Speaker 3: because I understand, and there was a really significant discussion
4:50
Speaker 3: around this in the group this week. I understand that
4:53
Speaker 3: afterbate can be used responsibly, as we know from the statistics,
4:58
Speaker 3: that is unfortunately the min already and I would classify
5:03
Speaker 3: take out food dining out that is really a luxury item.
5:07
Speaker 3: It's a different story when we see you know, we've
5:10
Speaker 3: heard from families who will have to pay items for
5:13
Speaker 3: their kids for school, or maybe they use it for
5:15
Speaker 3: their grocery spend because their cash flow just isn't free enough.
5:19
Speaker 3: And that I fully understand and support if that's what
5:22
Speaker 3: you need to keep yourself in a positive financial position.
5:26
Speaker 3: But I feel like it's quite dangerous to encourage people
5:29
Speaker 3: to be putting extravagant dinners or drinks on the weekend,
5:34
Speaker 3: because we already know it's so easy to tap and forget.
5:37
Speaker 3: If you're then disassociating from that money you're spending because
5:41
Speaker 3: you're not seeing it all go immediately, I think it's
5:44
Speaker 3: just quite dangerous and it encourages frivolous spending without really
5:48
Speaker 3: considering what you're doing.
5:49
Speaker 4: One hundred percent, and we were also talking about like
5:51
Speaker 4: the impacts of alcohol and how that makes everything even worse.
5:56
Speaker 3: Well, how often do people get blind drunkie? Here about
5:59
Speaker 3: it all the time, like a.
6:00
Speaker 2: Round of shots off the bus, Like literally imagine.
6:04
Speaker 3: You know what I mean? I imagine occasionally in those
6:06
Speaker 3: situations where someone's like, yes, I'll take that two thousand
6:09
Speaker 3: dollars bottle of champagne, their card gets declined and it's
6:13
Speaker 3: actually a blessing in disguise if you have to pay
6:16
Speaker 3: it that barrier is not there.
6:17
Speaker 2: Yeah, that's so true.
6:18
Speaker 4: Scary, scary stuff.
6:19
Speaker 2: And I said on the episode, I just feel like
6:21
Speaker 2: it's really predatory because like they know their return on investment,
6:26
Speaker 2: they know what that segment means to them and how
6:29
Speaker 2: people are going to use it, because we know that
6:32
Speaker 2: retailer's sales have increased by forty percent because of after
6:36
Speaker 2: pay usage, which really leans into this week's episode that
6:39
Speaker 2: Georgia and I did around impulsiveness, because it really enables
6:43
Speaker 2: you to actually purchase something that maybe you weren't going
6:45
Speaker 2: to purchase because you didn't have the cash, but you know,
6:47
Speaker 2: if you put it on after pay, its future mes problem.
6:50
Speaker 2: And you know we also touched on the marketing around
6:53
Speaker 2: that and how it just seems to be like, don't
6:55
Speaker 2: worry about the bill, put.
6:56
Speaker 1: It on it.
6:57
Speaker 3: That's where I have a big problem the marketing. And
7:00
Speaker 3: we know historically the marketing has excused my pun but
7:04
Speaker 3: missed the mark from it.
7:06
Speaker 2: Yes, absolutely, very like.
7:08
Speaker 3: In a really big way. And I think that it's
7:10
Speaker 3: the fact that that marketing leans into that psychological ignorance.
7:14
Speaker 2: Or yeah, absolutely, and impulsiveness, like it is kind of
7:18
Speaker 2: ignorance because you're like I get to keep my head
7:21
Speaker 2: stuck in the sand, like I don't have to pull
7:23
Speaker 2: it out because I don't have to cough up that
7:25
Speaker 2: two hundred dollars for address, or it's now we can
7:28
Speaker 2: go out for dinner. Yes, we can have a fancy
7:30
Speaker 2: our dinner. It's going to cost me fifty bucks on
7:31
Speaker 2: after pay today, but it's actually a two hundred dollars dinner.
7:35
Speaker 2: It seems really irresponsible to be doing that. And as
7:37
Speaker 2: you said before, it's really great to disclaimer, you know,
7:39
Speaker 2: if you're using this for cash flow purposes, great, But
7:43
Speaker 2: as discussed on the Wednesday episode, Georgia, in the last
7:46
Speaker 2: financial year, after Pay made sixty eight point eight million dollars, yes,
7:51
Speaker 2: from late fees, from late fees, not in terms of profit.
7:55
Speaker 2: That was their profit, just from late fees. And to me,
7:59
Speaker 2: it's like, well, they're not doing enough to educate their community.
8:03
Speaker 2: And I trolled through their website and there's not one
8:06
Speaker 2: thing on the website that says this is how to
8:08
Speaker 2: use this responsibly, like and I know that, you know,
8:11
Speaker 2: we don't have to do that, and they don't have
8:14
Speaker 2: to do it because regulation, it's not regulated, they don't
8:17
Speaker 2: need to. But like we get warnings with things like gambling,
8:20
Speaker 2: we get warnings with things like alcohol because gambling, if
8:23
Speaker 2: it was just you playing an online game, there's no implication,
8:26
Speaker 2: but they know what it means to your finances. So
8:29
Speaker 2: why aren't these things regulated in the same way to say, hey, Jess,
8:32
Speaker 2: if you want to use this, like just so you
8:33
Speaker 2: know these are the implications. Or this is when you
8:36
Speaker 2: know you've got a problem with it, because even one
8:38
Speaker 2: of the money loss is listed in our thread this week,
8:41
Speaker 2: and you know it's not one of the ones I'm
8:42
Speaker 2: about to read out, but one of the money losses
8:44
Speaker 2: this week was I keep digging myself into afterpay, like
8:49
Speaker 2: people are doing it and they're not meaning to. It's
8:51
Speaker 2: just impulsiveness, and it's just you know it's there and
8:54
Speaker 2: it's usable and it's accessible. And I don't know should
8:57
Speaker 2: we have warnings on these things. I don't know what
8:59
Speaker 2: the right way about it is, but I think if
9:01
Speaker 2: someone is making sixty eight point eight million dollars because
9:04
Speaker 2: people aren't paying their bills on time, I think there
9:07
Speaker 2: needs to be some level of responsibility to help educate
9:11
Speaker 2: that community.
9:12
Speaker 3: And if you do want to buy a fancy two
9:14
Speaker 3: hundred dollars dinner, and you do want to break it
9:15
Speaker 3: down into easy installments, just break it into four and
9:18
Speaker 3: pop that away each payday. You can kind of preemptively
9:21
Speaker 3: after pay if you budget for it exactly.
9:25
Speaker 2: And I think that, you know, we talked about it
9:27
Speaker 2: on the episode. Maybe we're just like a rehashing this
9:29
Speaker 2: entire episode, George, but Glenn James is always like, if
9:32
Speaker 2: you can't afford it, because it's not in your account,
9:34
Speaker 2: you can't afford it. And I guess I'm a little
9:36
Speaker 2: bit more flexible on that because I'm like, do you
9:38
Speaker 2: know what, As I've said on a very early episode,
9:41
Speaker 2: my best friend uses after pay in a really smart
9:43
Speaker 2: way so that she can go get a whole heap
9:45
Speaker 2: of dresses and cash flow them or you know, she's
9:47
Speaker 2: planned these spends and this is just her way of
9:50
Speaker 2: managing money because she actually gets paid monthly, not weekly,
9:53
Speaker 2: and that's a good way of her, you know, making
9:55
Speaker 2: sure that it just doesn't like hit all at one time,
9:58
Speaker 2: because that would be too much for her. I am
10:01
Speaker 2: absolutely in agreeance that it can be used responsibly. Most
10:05
Speaker 2: of a strong.
10:07
Speaker 3: Speaking money wins though, for you?
10:09
Speaker 2: Did you pick some out from the group this week? Ooft?
10:11
Speaker 2: I did, and I started with a money lost before,
10:14
Speaker 2: but I have a few that I think will all
10:16
Speaker 2: resonate with and one that actually specifically mentions you just
10:20
Speaker 2: but I got time.
10:22
Speaker 5: Yes.
10:24
Speaker 2: So first money win is from our new friend Steph.
10:27
Speaker 2: She joined the group this week and she says money
10:30
Speaker 2: win deleted all my food delivery apps. No app equals
10:34
Speaker 2: no temptation, which is very true. We had another one
10:38
Speaker 2: from Lily and she says, money win, I got a
10:41
Speaker 2: belated pay rise at work and a heap of backpay
10:45
Speaker 2: with last week's paycheck. The old me would have wasted
10:48
Speaker 2: that money on something frivolous, but instead I used it
10:51
Speaker 2: to pay off my after pay and close the account
10:55
Speaker 2: and pay off two thirds of my credit card. If
10:57
Speaker 2: that's not impressive, I don't know what. I've got another
11:01
Speaker 2: money win from Taylor and Taylor says money win. I
11:04
Speaker 2: did a cotton on order online last night. I wonder
11:07
Speaker 2: if she used to after pay. She can't have, because
11:10
Speaker 2: she says then she found out that they were having
11:12
Speaker 2: thirty percent off site wide this morning. Instead of just
11:15
Speaker 2: leaving it being frustrated with that, she contacted their customer
11:18
Speaker 2: support and they refunded her thirty percent of what she
11:21
Speaker 2: paid last time. How good is that? That is an
11:25
Speaker 2: absolute money win. We had another money win from Sherlini
11:29
Speaker 2: and she said, I now have two hundred and ten
11:31
Speaker 2: dollars in Woolli's rewards saved that will be available next month.
11:35
Speaker 2: So that's a chunk of Christmas presents for her kids
11:37
Speaker 2: at Big w for free. Oh Sam, I feel like
11:41
Speaker 2: that's genius.
11:41
Speaker 3: The rewards carts.
11:43
Speaker 2: I was about to say, quick check in from jesseic
11:45
Speaker 2: Rici where you might be the Flybys if you got
11:48
Speaker 2: your kitchen aid mixed up?
11:49
Speaker 3: Yeah, but I have a lot of Flybys dollars.
11:52
Speaker 2: Hey, I'll tell you that will be a fun update.
11:55
Speaker 3: I currently have one hundred and twenty eight thousand, five
11:58
Speaker 3: hundred and seventy points, which is the equip of six
12:00
Speaker 3: hundred and forty two dollars and eighty five cents.
12:03
Speaker 2: Oh, how far have you got to go before you
12:05
Speaker 2: get your stand? To Mix said, do you reckon? You'll
12:06
Speaker 2: get it for Christmas?
12:07
Speaker 3: I reckon, I reckon, I'll hit it for Christmas, which
12:09
Speaker 3: is so exciting.
12:11
Speaker 2: I know, have you picked a color white?
12:12
Speaker 4: Because I'm boring?
12:13
Speaker 2: Okay, No, you're not worrying new classic. You're a classic lady,
12:17
Speaker 2: all right, Jessica, not our Jessica. Jessica has an exciting
12:21
Speaker 2: money when she said, I landed a new job and
12:24
Speaker 2: a sweet sweet twenty thousand dollars pay rise, but she
12:28
Speaker 2: said money loss. My laptop carcked it and I have
12:31
Speaker 2: to get my wisdom teeth out tomorrow. But you know what,
12:33
Speaker 2: You've got an additional twenty grand of income that you
12:36
Speaker 2: can now use to work towards that. She's still winning.
12:40
Speaker 2: I've got two more for you, guys. The first one
12:42
Speaker 2: is from Nicole, and I liked this one because it
12:45
Speaker 2: was a good money win. But also she's international, She's
12:48
Speaker 2: from the UK. She said, money win. I bought a
12:51
Speaker 2: blazer from the thrift store about three months ago for
12:54
Speaker 2: four pounds, and yesterday she found two pounds in the pocket.
12:57
Speaker 2: How good is that? I feel like it's like a
13:01
Speaker 2: wildcard with thrifted clothes, like you'll sometimes find something in
13:04
Speaker 2: like a back pocket or something, and that just feels
13:07
Speaker 2: like free money. Like did she just get free stuff?
13:09
Speaker 2: In general? Like how do you win that half priced blaser?
13:13
Speaker 2: Half price bazer? But you didn't know what was going
13:15
Speaker 2: to be half priced until like a few months later,
13:18
Speaker 2: in which case you got a refund. Is that what happened?
13:20
Speaker 2: It's like the slater and we've got the last one
13:23
Speaker 2: this week from Jacqueline, and she has said, I've been
13:26
Speaker 2: trying to pull a Jessica gotta eat. She and Manifest
13:29
Speaker 2: the perfect surfboard for me to upgrade onto Marketplace after
13:33
Speaker 2: my partner talked me out of buying a brand do
13:35
Speaker 2: you want? She said? Unfortunately, I wasn't having any luck,
13:38
Speaker 2: couldn't manifest it, couldn't pull a Jessica Ricky. But today
13:42
Speaker 2: she drove past a near new JS board that is
13:46
Speaker 2: the perfect size and volume four she needed in the
13:49
Speaker 2: council cleanup. I got a make stock no cracks, no dings,
13:53
Speaker 2: no issues, and all she's up for is a new
13:55
Speaker 2: leash and a set of fins, which I don't know
13:57
Speaker 2: what those things are, but essentially what she did was
14:00
Speaker 2: bag a nine hundred dollar board for zero dollars. She says,
14:04
Speaker 2: thank you Jesse Ricky and thank you Universe.
14:06
Speaker 3: The manifestation we love to say.
14:08
Speaker 2: My gosh, she's like, I thought i'd get this on marketplace. No,
14:12
Speaker 2: you got it for free from Council Cleanup.
14:15
Speaker 3: Did you one better?
14:16
Speaker 2: Oh my god. We've got a lot to talk about,
14:18
Speaker 2: so let's go to a quick break before we jump
14:20
Speaker 2: right back in.
14:21
Speaker 4: Already straight back into it, guys, we're getting into our
14:25
Speaker 4: money question for the week. So here it is.
14:28
Speaker 5: Hey everyone, my question is about salary. So I've just
14:32
Speaker 5: been hired to do some vacation work and I've asked
14:35
Speaker 5: my new employer twice what my salary will be, and
14:38
Speaker 5: both times they replied with I'm not exactly sure. I'll
14:41
Speaker 5: have to check and get back to you. They still
14:44
Speaker 5: haven't told me what I'll be paid, and I feel
14:46
Speaker 5: like I can't ask a third time. I haven't been
14:49
Speaker 5: given a contract yet or started work yet, but I
14:52
Speaker 5: have been going through lots of pre employment assessments. I'm
14:55
Speaker 5: wondering is this normal? Should I be worried or should
14:59
Speaker 5: I just be waiting until I get the contract to
15:03
Speaker 5: see what I'm going to be paid? Thank you?
15:06
Speaker 2: I have thoughts, Jessica, to take it away. What are
15:08
Speaker 2: your thoughts?
15:09
Speaker 3: If you have had a verbal offer, you should not
15:13
Speaker 3: be completing any additional work, be that prep for taking
15:17
Speaker 3: on the job, be that training, be that those tasks
15:20
Speaker 3: until they have given you a contract and you have
15:22
Speaker 3: signed it.
15:23
Speaker 2: That's a good point. That's a really good point, right.
15:25
Speaker 3: That is additional work that you're taking on under the
15:28
Speaker 3: assumption that you will be starting this job. But the
15:31
Speaker 3: unfortunate fact is if you haven't signed a contract, they
15:35
Speaker 3: can take that away from you. And that sounds really
15:37
Speaker 3: skeptical and really horrible. But until you have signed that
15:40
Speaker 3: piece of paper, you don't have any level of security.
15:44
Speaker 3: And I would really encourage her in this situation to
15:47
Speaker 3: reach out to them, to be honest, reach out a
15:50
Speaker 3: third time, reach out, a fifth time, reach out a
15:52
Speaker 3: tenth time. That is information that you are entitled to.
15:57
Speaker 3: And another like sidestep from that is I personally would
16:02
Speaker 3: not accept a job without knowing the salary because you
16:06
Speaker 3: just don't You just don't know where that's going to go.
16:09
Speaker 3: And it's really awkward for you if you've done all
16:11
Speaker 3: these tasks and you've set up and they've created an
16:14
Speaker 3: email account for you, and all of that stuff is
16:16
Speaker 3: done and then they offer you a salary that's thirty
16:18
Speaker 3: thousand dollars less than what you were expecting.
16:21
Speaker 2: Yeah, exactly. And I also would call into question if
16:24
Speaker 2: it's that hard to work that out? Is that a
16:26
Speaker 2: red flag for an employer? Like is that crimson jest,
16:31
Speaker 2: that's a crimson flag. That's a crimson flag. Like that
16:34
Speaker 2: one's bright, she's shining brightly. But for me, I'm like, well,
16:37
Speaker 2: why wouldn't they have already thought about that? Because from
16:40
Speaker 2: the perspective of the employer, because that is me, I
16:44
Speaker 2: have already set a budget for what I'm going to
16:46
Speaker 2: pay for that role, because I've had to work out
16:48
Speaker 2: whether our business can afford to take someone on or not.
16:51
Speaker 2: And if I can, what is that bracket? And you know,
16:54
Speaker 2: the person in HR might not have a specific but
16:56
Speaker 2: they might say, oh, it's going to be between sixty
16:58
Speaker 2: and sixty five. Go, okay, no problems, But like what
17:01
Speaker 2: if they say that and your expectation was ninety Like
17:05
Speaker 2: is that something you want to pursue or are you
17:07
Speaker 2: putting everything on hold because you've got all your eggs
17:09
Speaker 2: in one basket and then you're gonna find out that's
17:10
Speaker 2: not the dream job. And you said no to another interview, Like,
17:13
Speaker 2: I don't know. That makes me feel really uncomfortable because
17:16
Speaker 2: as much as maybe you didn't want to ask upfront,
17:19
Speaker 2: when's that gonna come up? And how have you gotten
17:21
Speaker 2: an offer without them saying, hey, we want to give
17:24
Speaker 2: you the job at what right? Because like, that's from
17:26
Speaker 2: my perspective how that works. Like historically I've had conversations
17:30
Speaker 2: and Jess, you might be able to talk to this.
17:33
Speaker 2: When I gave you your offer, I said, I called you.
17:35
Speaker 2: It was very exciting. I think they recorded it. I
17:37
Speaker 2: think it's somewhere. Yeah, But it was one of those
17:42
Speaker 2: things where I was like, hey, Jess, oh my god,
17:43
Speaker 2: we would adore to have you. Here are the terms,
17:46
Speaker 2: here's the pay, here's the start date. Let me know
17:48
Speaker 2: if you're going to accept or not. But I never
17:50
Speaker 2: want someone to verbally accept. I'm like, have a think
17:52
Speaker 2: about it, let me know. And you were like huh no,
17:54
Speaker 2: I know, which was so kind, but like, how are
17:57
Speaker 2: they giving you an offer if they don't even know
17:59
Speaker 2: what they're offering you? Like that? That's really concerning George.
18:02
Speaker 3: You look like you have a thought.
18:04
Speaker 4: Yeah, so I'm going to give you a little more
18:05
Speaker 4: context because Michelle followed up with a little bit of
18:08
Speaker 4: a backstory.
18:09
Speaker 2: Oh great, So she could have given us to that
18:11
Speaker 2: at the start, Jaw, I couldn't jump in. Okay, sorry, sorry, Okay.
18:16
Speaker 4: So she said she's.
18:17
Speaker 2: Got the job.
18:18
Speaker 4: It's vacation work in my field of study.
18:21
Speaker 2: Okay.
18:21
Speaker 4: The first time I asked about salary was during the
18:24
Speaker 4: application and they said, I believe it is paid. The
18:27
Speaker 4: second time she asked what her hourly rate was was
18:30
Speaker 4: after they called her to tell her that she got
18:32
Speaker 4: the job, and they said they didn't know exactly.
18:35
Speaker 2: Red Flag again, red Flag Crimson Flags, Jessica, Like, I
18:40
Speaker 2: just feel, yeah, is it paid? Wait, they're not even
18:43
Speaker 2: sure if they're paying her or not.
18:45
Speaker 4: They think it's paid. I don't know who she's chatted to.
18:48
Speaker 2: Anyway, I think Michelle, red flag, I'd be calling it
18:52
Speaker 2: again and going, hey, cool, like we're just going to
18:54
Speaker 2: put everything on hold until I've got a little bit
18:57
Speaker 2: more clarity on the roll, Like, you can't be in
19:00
Speaker 2: a situation where they're like, hey, cool, thanks for taking
19:02
Speaker 2: this vacation role. We don't know if we can pay
19:04
Speaker 2: you or not yet, Like what.
19:06
Speaker 3: Yeah, yeah, I think my big thing would be, don't
19:09
Speaker 3: feel bad in this situation. Got like, because I know
19:12
Speaker 3: that when you're just chatting to someone and you're like, oh,
19:14
Speaker 3: I don't want to come on too strong. I don't
19:16
Speaker 3: want to be annoying. Don't put yourself in that box.
19:19
Speaker 3: Do not gaslight yourself. What you're asking for is extremely
19:23
Speaker 3: pertinent information that they should be providing you.
19:27
Speaker 2: Yeah, and they should have already, Like.
19:29
Speaker 4: What question for you, Vicki d As an employer, do
19:35
Speaker 4: you find it okay when people talk about like, obviously
19:40
Speaker 4: she's on the money guru, but like talking about salary
19:43
Speaker 4: is a good thing.
19:44
Speaker 2: It's really percent And I hope that both of you
19:47
Speaker 2: already know that, because I've had salary conversations with both
19:50
Speaker 2: of you at certain times and been like, cool, this
19:53
Speaker 2: is this, this is that. Like I just I'm probably
19:55
Speaker 2: a little bit more comfortable with that though than the
19:58
Speaker 2: average Beth I would say, purely because I mean we
20:01
Speaker 2: are shees on the money, and we do have those
20:03
Speaker 2: conversations and I go, okay, cool, like let's talk about
20:05
Speaker 2: this here when where like we do reviews, we actually
20:09
Speaker 2: sit down. But that's not the structure of a lot
20:11
Speaker 2: of businesses. But at the same time, if they had
20:14
Speaker 2: worked out that they have a need, they would have said,
20:16
Speaker 2: we can either pay this role or not not oh
20:18
Speaker 2: maybe it's paid, Like why are you interviewing if you
20:21
Speaker 2: don't even have clarity on the role. And I would
20:23
Speaker 2: really argue whether you even want to work with them?
20:27
Speaker 2: Do they know what you're going to be doing? Like
20:29
Speaker 2: are you just doing it because it's in your industry.
20:32
Speaker 2: I have done unpaid internships before, and I feel like
20:35
Speaker 2: I did get a lot of value out of them.
20:37
Speaker 2: But now knowing what I know, I wouldn't accept an
20:40
Speaker 2: unpaid internship, regardless of what stage in the process I'm at,
20:44
Speaker 2: because an unpaid internship shouldn't require any work, Like an
20:50
Speaker 2: internship should just be an internship where you're shadowing people
20:53
Speaker 2: and learning from them and you know you're not actually contributing,
20:56
Speaker 2: whereas I was, I was acting as a paid employee
20:59
Speaker 2: and should be remunerated if you're contributing to that business.
21:03
Speaker 4: Okay, So moral of the story, Michelle should ask a
21:05
Speaker 4: third time and if they're still being shady, off, chef.
21:08
Speaker 2: For them off exactly. I love that, George.
21:12
Speaker 3: So for this week, I thought we could chat about
21:14
Speaker 3: an article that I read that I felt was very
21:16
Speaker 3: pertinent because a friend of mine went through something relating
21:19
Speaker 3: to this recently and I wanted to get your thoughts on.
21:22
Speaker 2: It, guys. What is it?
21:24
Speaker 3: So there was an article that came out earlier this week,
21:28
Speaker 3: and it was talking about the fact that there have
21:30
Speaker 3: been calls recently for ASIK, which, for anybody who doesn't know,
21:34
Speaker 3: is the regulator of the financial industry. There's been calls
21:38
Speaker 3: for them to investigate mental health discrimination in life insurance.
21:43
Speaker 3: And this is very friend of mine because we said
21:45
Speaker 3: a few weeks ago the Zella recently did all of
21:48
Speaker 3: my insurances. They did my partners and we got a
21:50
Speaker 3: really good look at them. But something that you have
21:54
Speaker 3: to consider is when you're suffering from something, insurances don't
21:58
Speaker 3: want to cover you. So if you you had a
22:00
Speaker 3: pre existing heart condition, it would be very difficult to
22:03
Speaker 3: get an insurer who would cover you for a heart
22:06
Speaker 3: condition because it's already there. And so a lot of
22:09
Speaker 3: insurers have been putting in exclusions for mental health, and
22:14
Speaker 3: the gist of the article, from what I understood, was
22:17
Speaker 3: the fact that this kind of discourages people from seeking
22:20
Speaker 3: help when they need it, and it doesn't necessarily take
22:23
Speaker 3: into account the fact that mental health is a very
22:27
Speaker 3: broad net and covers a lot of things. Someone might
22:31
Speaker 3: seek treatment for a particular problem like OCD or.
22:34
Speaker 2: Like anxiety or depression or something like that, which is
22:37
Speaker 2: what we're told to do. We are told to go
22:40
Speaker 2: and get help for these things and lah.
22:43
Speaker 3: But then these insurers are turning around and are saying, oh,
22:46
Speaker 3: you have mental health problems, We're not covering you for anything,
22:50
Speaker 3: which to me feels a little bit sneaky because obviously
22:53
Speaker 3: you take out insurance in the hope that nothing would happen,
22:56
Speaker 3: but it's there in case something does. And I'm in
22:59
Speaker 3: post over post all of these big world changes. Mental
23:03
Speaker 3: health is, you know, something that's at the forefront for
23:05
Speaker 3: a lot of people and something that a lot of
23:07
Speaker 3: people are understandably struggling with. So I thought it was
23:09
Speaker 3: really interesting that they're looking at changing the regulations in
23:13
Speaker 3: the industry. But I feel like you probably have a
23:16
Speaker 3: little bit more insight than little old me on that one.
23:19
Speaker 2: Oh, this topic actually really frustrates me. And it's not
23:22
Speaker 2: a new conversation for financial advisors to be having, where
23:25
Speaker 2: you have been battling for years with mental health exclusions.
23:30
Speaker 2: And I guess if you backtrack a fair few years,
23:32
Speaker 2: so thirty plus years ages ago, insurance was something that
23:37
Speaker 2: financial advisors sold. It's actually how the financial advice industry
23:41
Speaker 2: was established. Right, So if we go all the way back,
23:44
Speaker 2: and I think this is where a lot of financial advisors,
23:46
Speaker 2: we as an industry, get a bit of a bad
23:48
Speaker 2: rap from is because, let's be brutally honest, we all
23:51
Speaker 2: started as salesman. I mean I didn't, because I came
23:54
Speaker 2: to the industry much much later. But if you go
23:56
Speaker 2: back to you know, the sixties and seventies, they were
23:59
Speaker 2: actually selling life insurance as a product, and they would
24:01
Speaker 2: go door to door and go, hey, Jess, Joe's life insurance.
24:04
Speaker 2: What if you die, well, what will your stay at
24:06
Speaker 2: home life do? Like? How will she be supported? And
24:08
Speaker 2: it was all very misogynistic, but it was also very
24:12
Speaker 2: based on the fact that they could ensure for particular
24:15
Speaker 2: health conditions, and mental health back then was not addressed
24:19
Speaker 2: in the same way that it is today. So fast forward,
24:23
Speaker 2: and a lot of these policies have been structured in
24:26
Speaker 2: a way that they are mitigating their risks. So we
24:29
Speaker 2: get insurance, we put our money in and that goes
24:31
Speaker 2: into a big pool, and then these insurers are essentially saying,
24:34
Speaker 2: all right, we've worked out what the risk on this
24:36
Speaker 2: is and that's whether someone's going to claim or not,
24:39
Speaker 2: and that means that we can keep our fees low.
24:42
Speaker 2: And we know over the last few years fes have
24:45
Speaker 2: significantly increased because claims have increased, because we are now
24:50
Speaker 2: seeing a surge of people actually seeking help because we're
24:53
Speaker 2: telling them to seek help. And you know, George Jess,
24:56
Speaker 2: we are all very positive advocates of being open and
25:01
Speaker 2: honest about our mental health and when we are struggling,
25:03
Speaker 2: we believe in seeing people. But historically that wasn't the case.
25:08
Speaker 2: So we now have a whole new area that people
25:10
Speaker 2: are claiming on, but insurers aren't structured to be able
25:14
Speaker 2: to deal with that, and they don't know how to
25:16
Speaker 2: categorize it. Because unlike a broken leg, where if you
25:19
Speaker 2: were a builder, you go I have a broken leg,
25:21
Speaker 2: I cannot go on site I cannot work. They go, fair, cool,
25:25
Speaker 2: would you like your income protection? You go, thank you,
25:28
Speaker 2: that's really nice, whereas mental health is a bit more flexible.
25:32
Speaker 2: And I think that when it comes to mental health,
25:34
Speaker 2: it impacts people in different ways, like you might have
25:37
Speaker 2: generalized anxiety or you might have crippling anxiety that means
25:41
Speaker 2: you cannot leave the house and can't go to work.
25:43
Speaker 2: It might have been triggered, it might not have been triggered.
25:46
Speaker 2: And they just haven't worked out how to actually manage
25:50
Speaker 2: these things because also, how do you measure when someone's
25:54
Speaker 2: able to go back to work on a mental health claim?
25:56
Speaker 2: Like and I mean, I know we're talking about life
25:58
Speaker 2: insurance here, but this is where we've had a lot
26:01
Speaker 2: of animosity historically, and insurers have been really hesitant to
26:05
Speaker 2: want to extend insurance to people who have mental health
26:08
Speaker 2: conditions because they're like, well, what if they claim, how
26:12
Speaker 2: do we know when they're going to go back to work?
26:14
Speaker 2: They'll say, oh, I'm just not mentally fit for it.
26:16
Speaker 2: And I guess that abuse of that system is coming
26:19
Speaker 2: into it, the fact that people can go out on
26:21
Speaker 2: mental health and say sorry, I'm too depressed to work
26:23
Speaker 2: and I'm not saying that that's not valid. It absolutely
26:27
Speaker 2: is valid, but some people do take advantage of that
26:30
Speaker 2: and they can't just trust the person who says, oh, sorry,
26:33
Speaker 2: I can't go to work for that. Like historically there
26:36
Speaker 2: have been a lot of inquiries buy insurers on people
26:40
Speaker 2: who are on income protection claims. So maybe shouldn't have
26:42
Speaker 2: been on them because they're like, oh, I have a
26:44
Speaker 2: really bad back, and then they're seen down the road
26:46
Speaker 2: it mounts jumping up and down on trampolines with their
26:48
Speaker 2: kids and they're like, m you said you had a
26:50
Speaker 2: bad back. So I think it's an interesting conundrum I
26:55
Speaker 2: suppose for the industry to wrap their heads around. But
26:58
Speaker 2: essentially what's going on with the life insurance industry is
27:02
Speaker 2: life insurance implements blanket exclusions based on people's mental health.
27:07
Speaker 2: So a blanket exclusion means they would say, hey Jess,
27:11
Speaker 2: you know, using an example, I'm not saying you have
27:13
Speaker 2: this by any stretch of the imagination, Hey Jess, you've
27:16
Speaker 2: got anxiety mental health exclusion. If you had PTSD, something
27:21
Speaker 2: happened to you and then you needed to stop working. Sorry,
27:24
Speaker 2: PTSD falls under mental health. You actually can't claim on that.
27:28
Speaker 2: It's not actually accounting for that specific area of your
27:32
Speaker 2: mental health, if that makes sense, Whereas it would make
27:35
Speaker 2: a lot more sense to go, okay, Jess, you suffer
27:37
Speaker 2: from anxiety, no problems. If you have to go off
27:39
Speaker 2: work because of anxiety, we can't cover that because that's
27:42
Speaker 2: a pre existing condition. But if you have PTSD in
27:45
Speaker 2: something happens, that's a different story. They're not doing that.
27:47
Speaker 2: They're just saying, if it's ever a mental health issue,
27:50
Speaker 2: we're not covering it. And now Life Insurance is saying
27:53
Speaker 2: the same thing, and it's actually really really detrimental I
27:57
Speaker 2: suppose to people applying for it because apparently, and like
28:01
Speaker 2: I know this to be true, but allegedly is probably
28:04
Speaker 2: the right word we should be using here. Policies for
28:08
Speaker 2: Life insurance have been refused completely. They won't offer you
28:12
Speaker 2: insurance because you might have mental health issues. They might
28:15
Speaker 2: have really broad mental health exclusion, so just mental health
28:19
Speaker 2: in general, as opposed to depression or anxiety or something
28:22
Speaker 2: else related to mental health, or they are offering really
28:27
Speaker 2: really really unreasonably high loadings. So a loading is where
28:31
Speaker 2: they add a percentage onto the fee that you pay
28:34
Speaker 2: for that insurance. So say your insurance is one thousand
28:36
Speaker 2: dollars a year. They might go, Okay, Jess, we see
28:39
Speaker 2: that you've got something that you know you're more likely
28:41
Speaker 2: to claim on. Therefore you're more of a risk to us,
28:43
Speaker 2: so you have to pay more in insurances. But then
28:46
Speaker 2: instead of saying, oh, it's eleven hundred dollars now, they
28:49
Speaker 2: might go three thousand dollars. Now you go, oh, but
28:51
Speaker 2: I don't want to be under insured. But now you're
28:53
Speaker 2: paying a massive premium for something that you shouldn't have
28:57
Speaker 2: been paying a massive premium for. Because yeah, so it's
29:00
Speaker 2: a bit of a fickle industry, and I just think
29:03
Speaker 2: it's a really hard conversation to have. I absolutely agree,
29:07
Speaker 2: and would also urge us sick to review life insurance
29:10
Speaker 2: and make sure that we're all in the best possible position,
29:13
Speaker 2: because it's twenty twenty one, and you know, you get
29:16
Speaker 2: conflicting advice. You get told to insure yourself so that
29:19
Speaker 2: you can be in the best possible position if something
29:22
Speaker 2: happens to you and look after yourself and your family,
29:24
Speaker 2: but you're also told to go to mental health professionals.
29:27
Speaker 2: So it's kind of like, well, which one is it? Like,
29:29
Speaker 2: should I get insurance? And then admit to the issues
29:32
Speaker 2: that I'm going through and get help for that, or
29:35
Speaker 2: should I do something different? Or you know, if I
29:37
Speaker 2: get help, am I a shooting myself in the foot
29:39
Speaker 2: for getting insurance? Like it's all just a bit messy,
29:42
Speaker 2: And I guess that's why, you know, summing it all up,
29:46
Speaker 2: I'm such a positive advocate for getting insurance sorted while
29:51
Speaker 2: you're really young as early as possible, because you are
29:54
Speaker 2: far less likely to have ever experienced a significant health issue,
29:57
Speaker 2: or it might just not be as big of an
29:59
Speaker 2: issue it will be in thirty years when you've had
30:02
Speaker 2: double knee reconstruction. Because we're put in these positions where
30:06
Speaker 2: we're told get help, and we do get help, and
30:08
Speaker 2: then it's shot us in the foot for not getting insurance,
30:11
Speaker 2: and then you look at it and you go hold on.
30:13
Speaker 2: So you're saying that the person who just has anxiety
30:17
Speaker 2: and didn't get help for it is going to get
30:19
Speaker 2: a better insurance policy than me. That's exactly what it is.
30:23
Speaker 2: Because it's been completely undiagnosed and untreated, So you could
30:26
Speaker 2: be completely mentally unstable because you're not getting treatment or not.
30:31
Speaker 2: And I guess I've had lots of conversations. I do
30:33
Speaker 2: have lots of friends who are advisors, and we just
30:36
Speaker 2: think that the treatment should be implemented. So if I've
30:40
Speaker 2: got anxiety and my insurer knows that, and they say, okay, Victoria,
30:44
Speaker 2: we see you've got anxiety and you're on a medication
30:47
Speaker 2: for that, you need to keep taking that. And if
30:49
Speaker 2: for some reason you claim because you've stopped taking that
30:52
Speaker 2: medication or not informed us of your change situations, we
30:55
Speaker 2: couldn't cover that. You go, well, that makes more sense
30:58
Speaker 2: because if you've stopped treatment, well maybe you should have
31:01
Speaker 2: updated the terms or that could have significant health outcomes
31:04
Speaker 2: if you've just decided to stop taking medication against what
31:07
Speaker 2: your GP or your doctor has said. So I just
31:10
Speaker 2: think that there should be so many more facets of
31:13
Speaker 2: this conversation and what that actually means. But given we've
31:17
Speaker 2: gone through a pandemic, I'm pretty sure the statistic was
31:20
Speaker 2: that more than a million services were processed in the
31:23
Speaker 2: four weeks leading up to April twenty four, and if
31:26
Speaker 2: you compare that to the same period of time the
31:28
Speaker 2: year before, that's an eighteen percent increase in people seeking help.
31:32
Speaker 2: So we've got more people seeking help, which means there
31:34
Speaker 2: are going to be more people who had declined insurance.
31:37
Speaker 2: But the more people who are applying for insurance are
31:40
Speaker 2: putting themselves in the best possible position for our families,
31:43
Speaker 2: for our friends, And let's be really dramatic, for the government.
31:48
Speaker 2: If you're in a position where you pass away yesterday,
31:53
Speaker 2: your insurance is going to care for your family so
31:56
Speaker 2: that they're not going to have to get a pension,
31:58
Speaker 2: they're not going to have to get government support, they're
32:00
Speaker 2: not going to have to lean on the government. So
32:01
Speaker 2: is it not in their best interests to review this
32:04
Speaker 2: and make sure that we are able to pay our
32:06
Speaker 2: own ways.
32:07
Speaker 4: Yeah, I feel like surely, like think about how far
32:10
Speaker 4: we've come in the last ten years when it comes
32:12
Speaker 4: to mental health, the stigmas around it, we're having, Like
32:15
Speaker 4: the conversations we're having a much more candid these days.
32:18
Speaker 4: I feel like, in another ten years, surely this will
32:22
Speaker 4: be sorted because, yeah, it's just it's such a normalised
32:25
Speaker 4: part of our society now.
32:27
Speaker 2: Yeah, And I guess my biggest concern for this situation
32:31
Speaker 2: is that we are really promoting people to look after
32:33
Speaker 2: their mental health, but are they going to be stigmatized?
32:37
Speaker 2: Are they going to be discriminated against because now they
32:39
Speaker 2: can't access insurance. Is that what's going on here? And
32:43
Speaker 2: how do we mitigate that and make sure that that's
32:45
Speaker 2: not happening, Because no one should be discriminated against getting
32:48
Speaker 2: insurance if it's actually necessary, and there are ways to,
32:51
Speaker 2: you know, work around that, because it's wildly unfair to say, hey,
32:55
Speaker 2: person who has anxiety, complete blanket mental health exclusion, Like
32:59
Speaker 2: that's just why.
33:00
Speaker 3: That's like saying, hey, person with bones in your body,
33:03
Speaker 3: if you ever break a bone, that's like it throwing
33:07
Speaker 3: the baby out with the bath water. Like, oh, I
33:09
Speaker 3: broke one of my arms, all right, well both arms
33:11
Speaker 3: are excluded.
33:12
Speaker 2: It's like, but my left arm's fine. I only broke
33:14
Speaker 2: my right arm. Yeah, But like you broke an arm
33:17
Speaker 2: at some point because you fell off the playground as
33:18
Speaker 2: a child, Like what that makes no sense? So why
33:21
Speaker 2: would you having anxiety get you a blanket exclusion on
33:24
Speaker 2: a policy Like that doesn't make sense because anxiety is
33:27
Speaker 2: not depression. Depression is not PTSD. There are so many
33:31
Speaker 2: different facets of mental health and they're not being broken down,
33:35
Speaker 2: and they really need to be.
33:36
Speaker 3: It'll be really interesting to watch and see if a
33:39
Speaker 3: sick listens and takes those changes on board because I
33:42
Speaker 3: think we can all agree it's something that needs to change.
33:45
Speaker 2: Yeah, And as a financial advisor, I'm just really frustrated
33:47
Speaker 2: with it because this has been going on for years.
33:50
Speaker 2: Like it's not just life insurance, Like there are so
33:53
Speaker 2: many cases of people not being able to be covered
33:56
Speaker 2: for insurance because they've been through something or done something.
33:59
Speaker 2: And I totally get that. The job of an insurer,
34:02
Speaker 2: So when you're an insurance company, you have what's called underwriting,
34:06
Speaker 2: and underwriters they have the job of assessing risk. So
34:10
Speaker 2: they would look at your application, Jess and go, huh,
34:13
Speaker 2: how likely is this woman to claim on insurance? Like
34:17
Speaker 2: what kind of risk has she got? To me? They
34:20
Speaker 2: might go, oh, she's a clean skin, she's not gonna
34:22
Speaker 2: have any issues, straight through to the keeper. But then
34:24
Speaker 2: you might get someone in their sixties who's had a
34:26
Speaker 2: few heart issues, who's had a few leg issues, had
34:29
Speaker 2: a double Negeri construction, who knows, and their application comes
34:32
Speaker 2: through and like how likely are they to claim on insurance?
34:35
Speaker 2: And obviously they're far riskier And there's a line with
34:39
Speaker 2: insurance whethery like you know what if they go across
34:41
Speaker 2: this line we can't insure them because it's not worth it,
34:44
Speaker 2: because it's not actually about you as the individual, it's
34:46
Speaker 2: actually about the group, and the lower risk the group,
34:49
Speaker 2: the less likely they are to have to pay out insurance.
34:53
Speaker 2: And for me, it's just like, there are so many
34:55
Speaker 2: more semantics nowadays, especially around mental health, and we really
34:58
Speaker 2: need to be talking about it. But we're sure as
35:01
Speaker 2: hell shouldn't be discriminated against when we apply for insurance
35:04
Speaker 2: because we've disclosed what we're going through, because we've actually
35:07
Speaker 2: tried to help our own situations. Like it just seems
35:10
Speaker 2: wild to me that that's the situation we're in. And
35:13
Speaker 2: that's why I'm such an advocate of getting insurance early.
35:16
Speaker 2: And if you're like, oh, b Victoria, it's thousands and
35:18
Speaker 2: thousands of dollars to get a financial advisor to get insurance,
35:22
Speaker 2: it's like, well, no, there are actually insurance specialist financial
35:25
Speaker 2: advisors who'll do it and do the advice for you
35:28
Speaker 2: for a couple of hundred dollars, Like I know my
35:31
Speaker 2: friend Phil does it for couples under five hundred dollars
35:33
Speaker 2: for a whole statement of advice, and that's fully underwritten,
35:37
Speaker 2: proper insurance that you can't get through retail, like you
35:40
Speaker 2: can't just google it and sign up and get it
35:42
Speaker 2: done like he does it properly. And I just I
35:46
Speaker 2: feel like not enough people know that that exists. And
35:49
Speaker 2: if you want to get connected with someone like Phil
35:51
Speaker 2: or just fill in general. You can specify that he's
35:54
Speaker 2: a top bloke. There's actually a form on our website,
35:57
Speaker 2: so fill that in and we can get you matched
35:59
Speaker 2: up with him. It doesn't cost anything to do that,
36:01
Speaker 2: except you will have to pay fil for his services.
36:03
Speaker 2: But it's one of those things where I don't think
36:05
Speaker 2: we talk about this stuff enough. And Jess, you and
36:08
Speaker 2: I have had this conversation before you wanted your insurance
36:10
Speaker 2: has done, but you weren't even sure, like am I
36:12
Speaker 2: meant to go to someone else? Like I know, Victoria,
36:14
Speaker 2: you're a holistic advisor and I was like, Okay, this
36:16
Speaker 2: is how we're going to do it, but you just
36:19
Speaker 2: don't know what you don't know. I mean, you can
36:21
Speaker 2: absolutely go and do your own research, but that again
36:25
Speaker 2: means that you're going to have to go through the
36:26
Speaker 2: underwriting process. And I guess my biggest word of warning
36:29
Speaker 2: is if you're getting insurance from somebody who has done
36:33
Speaker 2: an ad at midnight and you just call up and
36:35
Speaker 2: only takes ten minutes. That's not properly underwritten and they're
36:39
Speaker 2: never going to pay out in the way that you
36:40
Speaker 2: want them to. Al Right, guys, I feel like that
36:43
Speaker 2: is enough on insurance and what's happened during the week
36:46
Speaker 2: and our money whins. So I think that's all we
36:48
Speaker 2: have time for today. I mean, we've been recording for
36:50
Speaker 2: like forty minutes now, guys. While, so just before we
36:54
Speaker 2: head off, we'd like to acknowledge and pay our respects
36:57
Speaker 2: to Australia's Aboriginal and Torus right islander peoples. They're the
37:01
Speaker 2: traditional custodians of the lands, the waterways and the skies
37:05
Speaker 2: all across Australia. We thank you for sharing and the
37:08
Speaker 2: caring for the land on which we are able to learn.
37:10
Speaker 2: We pay our respects to elders past and present, and
37:13
Speaker 2: we share our friendship and our kindness.
37:15
Speaker 4: And remember, guys, that the advice shed on she's on
37:18
Speaker 4: the money is general in nature and does not consider
37:20
Speaker 4: your individual circumstances. She is on the money exists purely
37:24
Speaker 4: for educational purposes and shouldn't be relied upon to make
37:27
Speaker 4: an investment or a financial decision and we promise. Victoria
37:31
Speaker 4: Divine is an authorized representative of Australia Specific Funds Management
37:35
Speaker 4: Proprietary Limited a BN three four one three two four
37:39
Speaker 4: six three AT two five seven AFO CEL story three
37:41
Speaker 4: nine one five one.
37:43
Speaker 3: See you next week, guys, guys, Bye,