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Setting Up Your New Year Investment Plan · She's On The Money

• 0:00
  Speaker 1: Hello.
• 0:01
  Speaker 2: My name's Santasha Nabananga Bamblet. I'm a proud yr the
• 0:05
  Speaker 2: Order Kerney Whoalbury and a waddery woman. And before we
• 0:08
  Speaker 2: get started on She's on the Money podcast, I would
• 0:11
  Speaker 2: like to acknowledge the traditional custodians of the land of
• 0:14
  Speaker 2: which this podcast is recorded on a wondery country, acknowledging
• 0:18
  Speaker 2: the elders, the ancestors and the next generation coming through
• 0:23
  Speaker 2: as this podcast is about connecting, empowering, knowledge sharing and
• 0:27
  Speaker 2: the storytelling of you to make a difference for today
• 0:31
  Speaker 2: and lasting impact for tomorrow.
• 0:33
  Speaker 1: 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 welcome to She's the Podcast Millennials who Want
• 1:01
  Speaker 4: Financial Freedom. My name is Jessica Ricky and with me
• 1:05
  Speaker 4: as always, is finance expert Victoria to Fine.
• 1:09
  Speaker 1: I am so excited about this episode.
• 1:11
  Speaker 4: It is another opportunity to talk to you guys about
• 1:14
  Speaker 4: how to develop an investing plan and I could not
• 1:17
  Speaker 4: be more excited about it. I am so excited to
• 1:20
  Speaker 4: be back. We've just had a Christmas break, We're feeling refreshed,
• 1:23
  Speaker 4: we're feeling good, and we are hopefully feeling ready to
• 1:27
  Speaker 4: tackle the new year. And set ourselves up to hopefully
• 1:30
  Speaker 4: have a very successful, very prosperous hopefully. Yeah, I hate
• 1:34
  Speaker 4: the word prosperous. I feel like like I love the
• 1:37
  Speaker 4: intent of the word, but I feel like that we're
• 1:40
  Speaker 4: just prosperous just sounds like it's gate kept for wealthy people.
• 1:44
  Speaker 4: I would like everyone to have a prosperous Yeah. Same,
• 1:46
  Speaker 4: I don't want them to not have a prosper I
• 1:48
  Speaker 4: just don't like the word. Anyway, we can move on
• 1:51
  Speaker 4: because I have a whole laundry list of stuff to
• 1:54
  Speaker 4: get through. I really want to take you guys through
• 1:57
  Speaker 4: not only setting up an investment plan, which we've obviously
• 1:59
  Speaker 4: covered before, but like recap it so it's front of
• 2:02
  Speaker 4: mind and super fresh for the year to come. Because
• 2:05
  Speaker 4: even if you have already set up an investment plan,
• 2:08
  Speaker 4: an investment plan isn't something that you set and forget.
• 2:10
  Speaker 4: It's something that we consistently check on and make sure
• 2:13
  Speaker 4: that we're up to date with because things change right now,
• 2:16
  Speaker 4: even if they don't feel like they are very different,
• 2:18
  Speaker 4: Even if we press rewind till the fourth of January
• 2:21
  Speaker 4: last year, I guarantee things are very different. And you
• 2:25
  Speaker 4: know what, that's not a bad thing, but we need
• 2:27
  Speaker 4: to be on top of it.
• 2:28
  Speaker 1: So Jess, let's get into it.
• 2:30
  Speaker 4: I know none of this will come as a surprise,
• 2:32
  Speaker 4: but we are here to refresh you, here to review
• 2:35
  Speaker 4: everything and to hopefully give you a little bit of
• 2:37
  Speaker 4: motivation to kick things off in a very very exciting way.
• 2:41
  Speaker 4: Sounds incredible, all right, VD Where do we begin?
• 2:44
  Speaker 1: Ye knew me?
• 2:45
  Speaker 4: What is the very first step that I should be
• 2:47
  Speaker 4: taking to set up my brand new, shiny investment plan?
• 2:50
  Speaker 4: All right, So, whether you're planning on setting up a
• 2:52
  Speaker 4: new investment plan or just refreshing and reviewing one that
• 2:55
  Speaker 4: exists already, the first thing I'm going to say is
• 2:57
  Speaker 4: review your finances. So if we re wind back to
• 3:00
  Speaker 4: season one, if she's on the money, I think, like
• 3:02
  Speaker 4: episode two, it was very very long ago. But the
• 3:06
  Speaker 4: reason it's there is because it's always relevant. So we
• 3:09
  Speaker 4: are going to do a bank account audit. It is
• 3:12
  Speaker 4: not very exciting, I promise, but with a good glass
• 3:15
  Speaker 4: of wine or a cup of tea or even maybe
• 3:17
  Speaker 4: like an apperole in hand this time of year, I
• 3:20
  Speaker 4: promise it can be a good exercise. But what you're
• 3:23
  Speaker 4: going to do is sit down and go through your
• 3:26
  Speaker 4: bank statements. So you're going to print out and I
• 3:29
  Speaker 4: know that we want to save paper in this house,
• 3:31
  Speaker 4: but to me, this is one of the best ways
• 3:33
  Speaker 4: that you can actually do it because it's really visible.
• 3:36
  Speaker 4: It's not like, oh, I brought it on my phone
• 3:37
  Speaker 4: on a list or I just flicked through something on
• 3:39
  Speaker 4: my phone, like that's not powerful. Power is holding it
• 3:43
  Speaker 4: in your hands and actually being able to see like,
• 3:45
  Speaker 4: oh my gosh, this means this, and this means that.
• 3:48
  Speaker 4: So you're going to grab two colored highlighters, different colors please,
• 3:51
  Speaker 4: and you are going to go through three months with
• 3:54
  Speaker 4: your bank account statements and highlight your discretionary expenses in
• 3:57
  Speaker 4: one color and your non discretionary expenses in the other.
• 4:01
  Speaker 4: So discretionary expenses are the things that you don't really
• 4:04
  Speaker 4: need to spend money on to survive. So we're talking
• 4:06
  Speaker 4: like take away and shopping and Christmas expenses. We are
• 4:11
  Speaker 4: going to go through things that you know you don't
• 4:14
  Speaker 4: have to spend money on to survive. We're not saying
• 4:16
  Speaker 4: that you can't. This isn't a good or a bad conversation.
• 4:19
  Speaker 4: It's just highlight your discretionary in the green and then
• 4:21
  Speaker 4: in your pink highlighter. You're going to highlight your non
• 4:24
  Speaker 4: discretionary so that's things like rent or mortgage, or your
• 4:27
  Speaker 4: electricity bills or your grocery bills or things that we
• 4:31
  Speaker 4: don't have a lot of power over because the second
• 4:33
  Speaker 4: that we do that, we can see where our split
• 4:36
  Speaker 4: of money is going. But also, as you highlight things
• 4:39
  Speaker 4: that are discretionary, you can go, oh, my gosh, that
• 4:43
  Speaker 4: isn't the line to my values, or I do like this,
• 4:45
  Speaker 4: or I don't like this, And to me, that's a
• 4:48
  Speaker 4: really powerful place to start. And putting everything in perspective
• 4:52
  Speaker 4: means that when you go to do a budget and
• 4:54
  Speaker 4: a cash flow, you're more likely to know where you
• 4:56
  Speaker 4: want to pull things in, or it's going to highlight
• 4:59
  Speaker 4: areas that you spending.
• 5:00
  Speaker 1: That maybe you weren't as aware of as you could be.
• 5:03
  Speaker 4: I remember the first time I ever did this, I
• 5:05
  Speaker 4: was shocked just by the sheer volume of transactions that
• 5:09
  Speaker 4: came out, because I mean, you never really go through
• 5:11
  Speaker 4: unless you're looking for something specific. You never really go
• 5:14
  Speaker 4: through line by line what you've got, which I guess
• 5:17
  Speaker 4: is the whole purpose of this. And I printed it
• 5:18
  Speaker 4: out and I remember it's like ten pages or something
• 5:20
  Speaker 4: from US time I was.
• 5:21
  Speaker 1: Like, atio of wine.
• 5:23
  Speaker 4: Yeah, I was like, oh my gosh, I'm gonna be
• 5:25
  Speaker 4: here forever. It is actually like that, and that's why
• 5:28
  Speaker 4: I always say, like, grab a glass of wine or
• 5:30
  Speaker 4: a cup of tea and do it as kind of
• 5:32
  Speaker 4: I would say self care activity, because it's not meant
• 5:35
  Speaker 4: to be oh my gosh, chess, like you're so naughty.
• 5:38
  Speaker 4: You've had so many transactions. I think what the intention
• 5:41
  Speaker 4: of this activity is one to understand where your money
• 5:44
  Speaker 4: is going and what you're spending it on, but just
• 5:46
  Speaker 4: to highlight to you literally very physically, because you know
• 5:50
  Speaker 4: these days, money isn't that physical that it is actually
• 5:53
  Speaker 4: the small things that add up. It's the one dollar
• 5:56
  Speaker 4: slope at seven eleven consistently, it is everyday toffee. Yeah,
• 6:00
  Speaker 4: but do you know what I mean, Like, it's the
• 6:01
  Speaker 4: small things that we spend on that we go far out.
• 6:04
  Speaker 4: Like I knew I did that and it didn't quote matter,
• 6:06
  Speaker 4: But I wish I didn't do that as much because
• 6:09
  Speaker 4: I didn't realize that would mean an extra twenty dollars
• 6:11
  Speaker 4: towards something that I really really care about at the
• 6:13
  Speaker 4: end of the month. So it's really about pulling together
• 6:16
  Speaker 4: all of your finances and reviewing them, not just going
• 6:20
  Speaker 4: do I pay rent?
• 6:21
  Speaker 2: Yes?
• 6:21
  Speaker 4: Do you know what I mean?
• 6:22
  Speaker 2: Like?
• 6:22
  Speaker 4: I feel like it can sound like a bland exercise,
• 6:25
  Speaker 4: but I get so many messages so consistently from people saying,
• 6:29
  Speaker 4: oh my gosh, Victoria, I did this. I'd been putting
• 6:31
  Speaker 4: it off because it just didn't make sense. I actually
• 6:34
  Speaker 4: feel so on top of my money now I know
• 6:36
  Speaker 4: where every dollar is going. I feel like the new
• 6:38
  Speaker 4: year is a good time to do that as well,
• 6:39
  Speaker 4: because we're all feeling good about setting ourselves up and
• 6:42
  Speaker 4: setting new intentions. And we spoke a lot about this
• 6:45
  Speaker 4: last week in our goal setting episode, but kind of
• 6:48
  Speaker 4: harnessing the power of how we're feeling right now. We're
• 6:51
  Speaker 4: all feeling good and excited and shiny and new. And
• 6:53
  Speaker 4: do you know why I'm making you do it at
• 6:55
  Speaker 4: the start of the year as well, Jess? And why
• 6:57
  Speaker 4: I made you include Christmas in it?
• 6:58
  Speaker 1: Why? Because is one the next step.
• 7:01
  Speaker 4: I'm going to spoil it now we're going to talk
• 7:03
  Speaker 4: about budgeting, but I need you to know what you
• 7:05
  Speaker 4: spent on Christmas so that we now have a full
• 7:08
  Speaker 4: twelve months to set ourselves up for financial success during
• 7:12
  Speaker 4: a festive period because it's the one thing that's always
• 7:15
  Speaker 4: going to happen, like if you celebrate Christmas or you
• 7:18
  Speaker 4: celebrate something festive at that period of the year, like
• 7:22
  Speaker 4: you know it's coming, and it's really hard to budget
• 7:25
  Speaker 4: for it when you're like, oh far out, like all right, well,
• 7:27
  Speaker 4: I'm going to get Jess a present it'll be fifty dollars,
• 7:29
  Speaker 4: or get analse At a present that'll be fifty dollars,
• 7:32
  Speaker 4: and then actually going through your bank statements is going
• 7:34
  Speaker 4: to show you, oh, well, Jess's present was actually sixty
• 7:36
  Speaker 4: five and Analysa's was actually forty dollars, or you know,
• 7:39
  Speaker 4: Gabby's present was actually one hundred and ten because you
• 7:42
  Speaker 4: wanted to get them something different. And I think that
• 7:44
  Speaker 4: it's not really about what you're spending, but being aware
• 7:47
  Speaker 4: of it, because if in January we started putting money
• 7:49
  Speaker 4: aside for Christmas, everybody would be so much less stressed
• 7:53
  Speaker 4: about something that's arguably gonna come up. Because you don't
• 7:55
  Speaker 4: just not celebrate Christmas one you like it's coming, let's
• 7:58
  Speaker 4: prepare for it. And it's not that sexy, but I promise,
• 8:01
  Speaker 4: especially right now where you're probably still feeling that overarching
• 8:04
  Speaker 4: feeling of stress from Christmas because it's still probably financially
• 8:07
  Speaker 4: impacting you. It's a good time to set that intention
• 8:10
  Speaker 4: and actually put yourself forward, because we don't want to
• 8:12
  Speaker 4: feel like this on the fourth of January next year.
• 8:14
  Speaker 4: Oh she's a thinker, and we know that a lot
• 8:17
  Speaker 4: of people are in the same boat and thinking about
• 8:19
  Speaker 4: the same thing as us, because when we did our
• 8:20
  Speaker 4: community Christmas Hacks episode a few weeks ago, that was
• 8:24
  Speaker 4: one of the top ones that came through. So we're
• 8:25
  Speaker 4: all clearly on the same wavelength. Talk to me about
• 8:28
  Speaker 4: budget and cash flow. I feel like again the new
• 8:31
  Speaker 4: year is the perfect time to be taking a look.
• 8:33
  Speaker 4: All right, so I spoiled it before, But the next
• 8:36
  Speaker 4: step is to do your budget and cash flow. You
• 8:38
  Speaker 4: can obviously jump online if you wanted to and do
• 8:40
  Speaker 4: our budget and cash flow program. Obviously I'm a little
• 8:43
  Speaker 4: bit biased and I think it works really well, but
• 8:45
  Speaker 4: so to thousands of other people. Or you could just
• 8:48
  Speaker 4: sit down and use our free budget tool on our website.
• 8:51
  Speaker 4: Yes it's a bit more manual, but money when it
• 8:53
  Speaker 4: is free and put yourself back in control. So you've
• 8:56
  Speaker 4: done your bank account audit, you kind of know a
• 8:58
  Speaker 4: little bit about where your money is going on. What's
• 9:00
  Speaker 4: going on. Now, let's sit down and actually do a budget.
• 9:03
  Speaker 4: Let's write down all of our expenses and where they're going,
• 9:06
  Speaker 4: and not only that, but take it to the next
• 9:09
  Speaker 4: level and create a cash flow system. So I think
• 9:12
  Speaker 4: that this, or from my perspective, this is where a
• 9:15
  Speaker 4: lot of money systems fall short. So doing a budget,
• 9:19
  Speaker 4: it's so exciting, right, Jess, Like, I know you love
• 9:21
  Speaker 4: doing a good budget because we talk about it all
• 9:23
  Speaker 4: the time, but we love sitting down and going I
• 9:25
  Speaker 4: feel so in control, I feel so empowered. I'm going
• 9:28
  Speaker 4: to write down all of my expenses and what I'm
• 9:30
  Speaker 4: going to budget for them, and what I earn and
• 9:32
  Speaker 4: what my debts are, and I'm going to, you know,
• 9:34
  Speaker 4: put it in this system that makes sense, and you
• 9:37
  Speaker 4: have this spreadsheet and then you file it away and
• 9:39
  Speaker 4: you never touch it again because it isn't reflective of
• 9:42
  Speaker 4: the cash flow system that you have. So a cash
• 9:44
  Speaker 4: flow system is a banking system that puts you in
• 9:47
  Speaker 4: control of your budget by making sure that every single
• 9:51
  Speaker 4: dollar that comes in has a home to go to.
• 9:53
  Speaker 4: So it might be a different bank account, it might
• 9:56
  Speaker 4: be your spending account every day, but it makes sure
• 9:59
  Speaker 4: that every every dollar goes into a cash hub, and
• 10:02
  Speaker 4: that cash hub keeps your money safe because it's so
• 10:05
  Speaker 4: easy to lose money over time. And I know that
• 10:07
  Speaker 4: people are going to be like, what do you mean
• 10:08
  Speaker 4: lose money, Victoria, But if it's in your spending account,
• 10:11
  Speaker 4: you might just spend it. You'll be like, Oh, there's
• 10:13
  Speaker 4: fifty bucks in there. I can afford another ten dollar sandwich.
• 10:15
  Speaker 1: It's all good.
• 10:16
  Speaker 4: And then come July this year, you're going to turn
• 10:19
  Speaker 4: around and be like, oh my gosh, I completely forgot
• 10:21
  Speaker 4: I had regrodu Like, we're going to plan for all
• 10:23
  Speaker 4: of that. So this year, finance isn't a stress for you,
• 10:27
  Speaker 4: but rather something that empowers you. And regardless of what
• 10:30
  Speaker 4: financial situation you were in, whether you are in significant
• 10:34
  Speaker 4: personal debt, whether you are a millionaire, whether you are
• 10:38
  Speaker 4: just about to save your first home deposit, I promise
• 10:41
  Speaker 4: having a cash flow system is going to make you
• 10:43
  Speaker 4: feel far more empowered in all of those situations.
• 10:47
  Speaker 1: I promise.
• 10:48
  Speaker 4: Even if you are in debt and burying your head
• 10:50
  Speaker 4: in the sand right now without money, you're not going
• 10:53
  Speaker 4: to feel stressed about it because there's a plan, there's
• 10:55
  Speaker 4: a system. It takes the weight off your shoulders and
• 10:58
  Speaker 4: puts it on the system as opposed to you. And
• 11:01
  Speaker 4: I think that that is one of the most empowering
• 11:03
  Speaker 4: things about a budget and cash flow system because they
• 11:06
  Speaker 4: work together to put you in a less stressed place
• 11:09
  Speaker 4: because there's a plan actually working, as opposed to a
• 11:12
  Speaker 4: cute spreadsheet that got filed away that didn't get looked
• 11:15
  Speaker 4: at and didn't actually help because I don't want to
• 11:17
  Speaker 4: look at it on a weekly basis. What about our
• 11:19
  Speaker 4: friends who might have done the right thing and set
• 11:22
  Speaker 4: themselves up with a really solid budget or a cash
• 11:24
  Speaker 4: flow last year, do they still need to be checking
• 11:26
  Speaker 4: in and reviewing it even if they feel like nothing's
• 11:28
  Speaker 4: really changed. Absolutely, because our values change over time and
• 11:32
  Speaker 4: the way we live our lives changes es like it
• 11:35
  Speaker 4: just is different. Like Jess, last year, you and I
• 11:38
  Speaker 4: were really into Polarates, but we haven't done that recently.
• 11:41
  Speaker 4: So imagine if I had an ongoing Polarities membership that
• 11:44
  Speaker 4: I'll still paying for and I still feel like, oh
• 11:46
  Speaker 4: I want that, I'll go back to that, but it's
• 11:48
  Speaker 4: like sixty bucks a month or something, and you know
• 11:50
  Speaker 4: we're not using it. Maybe it's time to just have
• 11:52
  Speaker 4: that highlighted to me and cancel it. I recently, as
• 11:56
  Speaker 4: you know, have been obsessed with the Real Housewives of PEVL.
• 12:00
  Speaker 4: I downloaded a new streaming platform and I have been
• 12:03
  Speaker 4: using that, but now vocalizing it, I've really stopped watching
• 12:07
  Speaker 4: Real Housewives of Beverly Hills because I don't have time.
• 12:10
  Speaker 4: I'm really busy at the moment. So you know what,
• 12:12
  Speaker 4: if I reviewed my budget, I could probably get rid
• 12:14
  Speaker 4: of that for now. Because the one thing that I
• 12:17
  Speaker 4: don't think people can sceptualize often when we talk about
• 12:20
  Speaker 4: budgeting is you can actually remove something from your budget
• 12:24
  Speaker 4: right now, but it doesn't mean you can't go back
• 12:26
  Speaker 4: to it.
• 12:26
  Speaker 1: It doesn't mean that when I get.
• 12:27
  Speaker 4: Back into Real Housewives of like Salt Lake City or
• 12:30
  Speaker 4: something that we're talking about the other day, I can't
• 12:33
  Speaker 4: re download it. I absolutely can, but right here and
• 12:36
  Speaker 4: now I will save like fifteen bucks a month by
• 12:38
  Speaker 4: just getting rid of it because I'm not using it.
• 12:40
  Speaker 4: So I think that reviewing your budget, regardless of where
• 12:43
  Speaker 4: you are, doesn't mean that you know your salary has changed.
• 12:46
  Speaker 4: It doesn't mean that your goals have changed. But there
• 12:48
  Speaker 4: are small tweaks along the way that we need to
• 12:50
  Speaker 4: track and it might not equal out that oh my gosh,
• 12:53
  Speaker 4: I've got heaps more in savings, but there might be
• 12:56
  Speaker 4: some going to a different bucket and one going to savings,
• 12:58
  Speaker 4: and you know, maybe something has changed and it might
• 13:01
  Speaker 4: just redirect the flow. Doesn't necessarily mean that we have
• 13:05
  Speaker 4: more savings, but in a perfect world it does. But
• 13:07
  Speaker 4: we always want to be super on top of it.
• 13:09
  Speaker 4: So the right dollar is going into the right bucket,
• 13:12
  Speaker 4: and we are putting ourselves in control. All right, So
• 13:14
  Speaker 4: we've done a financial audit, we know how much we're spending.
• 13:17
  Speaker 4: We've done our budget and cash flow, so we now
• 13:19
  Speaker 4: probably have a pretty good idea of what we can
• 13:21
  Speaker 4: allocate to investing. What is the next step we should
• 13:24
  Speaker 4: be taking. We are going to redo our goals. And
• 13:27
  Speaker 4: I love goal setting, especially at the start of the year,
• 13:30
  Speaker 4: because it's like near new me vibes, right, like everybody
• 13:33
  Speaker 4: the busiest time of gyms in the entire world is January.
• 13:37
  Speaker 4: It's because everyone sets these beautiful intentions from themselves. And
• 13:41
  Speaker 4: I've got a few girlfriends who used to work at
• 13:43
  Speaker 4: gym's and they both say, oh my gosh, Victoria, it's
• 13:46
  Speaker 4: so funny because all of these people start coming to
• 13:49
  Speaker 4: the gym religiously in January, and by February we're dead
• 13:52
  Speaker 4: quiet because everybody's set these goals, but they're unrealistic and
• 13:57
  Speaker 4: they don't maintain them throughout the year. So every single
• 14:01
  Speaker 4: year they laugh about it because they're like, oh, here
• 14:03
  Speaker 4: comes the January flow of people who aren't going to stay.
• 14:06
  Speaker 4: And that's kind of like our financial goals, right. It's
• 14:09
  Speaker 4: because these people going to the gym aren't setting realistic
• 14:13
  Speaker 4: goals for themselves. They're going, I'm going to go so
• 14:16
  Speaker 4: hard on this. It's not going to work if you
• 14:18
  Speaker 4: go so hard and don't actually intertwine it into the
• 14:21
  Speaker 4: life that you actually live. So what we're going to
• 14:24
  Speaker 4: do is set our financial goals. And the reason we're
• 14:26
  Speaker 4: going to do that is because obviously having a plan
• 14:29
  Speaker 4: means that you are ten times more likely to achieve
• 14:32
  Speaker 4: those goals. But it's a time to revisit the goals
• 14:36
  Speaker 4: you set last year and be a little bit critical
• 14:38
  Speaker 4: of them. So I don't mean crucify yourself if you
• 14:41
  Speaker 4: didn't achieve them. Let's say you set a goal of
• 14:44
  Speaker 4: saving ten thousand dollars last year. What happened to that goal?
• 14:47
  Speaker 4: Did you achieve it. Did you not achieve it? Did
• 14:50
  Speaker 4: you get halfway there? If so, why we're not crucifying ourselves.
• 14:54
  Speaker 4: We're not saying it's good or bad. But I want
• 14:56
  Speaker 4: to fully understand why you achieved that goal or maybe
• 14:59
  Speaker 4: why you didn't achieve that goal. Did you achieve it
• 15:01
  Speaker 4: really easily because you set a plan in place and
• 15:04
  Speaker 4: it was just autodirect debited from your account and that
• 15:06
  Speaker 4: was really easy. Hey, there's something we can replicate again
• 15:09
  Speaker 4: this year because it's tried and true. If you didn't
• 15:12
  Speaker 4: achieve that goal, why didn't we achieve that goal? Is
• 15:15
  Speaker 4: it because it was a stretch? Did you maybe not
• 15:18
  Speaker 4: break that goal down into small enough, bite sized pieces
• 15:22
  Speaker 4: to realize that ten thousand dollars over a year sounds
• 15:24
  Speaker 4: like a lot of money, but it's still twenty seven
• 15:27
  Speaker 4: dollars fifty each and every single day that you need
• 15:31
  Speaker 4: to have going into your savings account. And if that's
• 15:33
  Speaker 4: unobtainable and unachievable, why would we set that goal again
• 15:37
  Speaker 4: because it's not going to be met. How do we
• 15:40
  Speaker 4: create a plan that puts you in the driver's seat.
• 15:43
  Speaker 4: So I think whether you achieved a goal or you didn't,
• 15:45
  Speaker 4: we need to look at why that's the case, because
• 15:48
  Speaker 4: this year it's all about putting yourself back in control.
• 15:52
  Speaker 4: And if you did achieve it, fantastic. We can probably
• 15:55
  Speaker 4: do it again and do some more and create plans
• 15:58
  Speaker 4: that involve that way of setting goal. If you didn't
• 16:01
  Speaker 4: achieve it, let's go back to the drawing board and
• 16:03
  Speaker 4: find something that does work, because we can't keep trying
• 16:06
  Speaker 4: to make something work if it didn't work the first
• 16:08
  Speaker 4: twelve months that we implemented it. Yeah, that makes total sense. Already.
• 16:13
  Speaker 4: Don't go anywhere, guys. We're going to dash to a
• 16:15
  Speaker 4: really quick break. But when we come back, we're going
• 16:16
  Speaker 4: to tell you how to take everything we just spoke
• 16:18
  Speaker 4: about and use that for your investment plan. Don't go anywhere,
• 16:26
  Speaker 4: all righty, guys, welcome back. And you might have been
• 16:28
  Speaker 4: listening to that first half, going Victoria, I've barely heard
• 16:31
  Speaker 4: you say the word investing. It's your favorite thing in
• 16:33
  Speaker 4: the world. What's it going on?
• 16:35
  Speaker 1: It is?
• 16:36
  Speaker 4: Well, do not stress, everybody. We're about to get deep
• 16:39
  Speaker 4: into the nitty gritty of how you're going to take
• 16:40
  Speaker 4: all of these brand new year good vibes and set
• 16:44
  Speaker 4: yourself up for your investing plan. Genius VD where are
• 16:47
  Speaker 4: we starting? So first things first, I wanted to set
• 16:50
  Speaker 4: you up with the first half of this episode with
• 16:52
  Speaker 4: like a refresher because investment ultimately is about money, and
• 16:55
  Speaker 4: if we're not in control or really deeply understanding our money,
• 16:58
  Speaker 4: your investment plan's not going to last. So let's set
• 17:01
  Speaker 4: all of those up and let's call them like hygiene points.
• 17:04
  Speaker 1: You need to meet them.
• 17:05
  Speaker 4: It doesn't matter whether you like doing it or not.
• 17:07
  Speaker 4: It's kind of like brushing your teeth at the end
• 17:09
  Speaker 4: of the day, like you're meant to do it for
• 17:11
  Speaker 4: someone like, it's not the best task. I like brushing
• 17:14
  Speaker 4: my teeth, Jess, because I just don't like that fury
• 17:16
  Speaker 4: feeling like it keeps me anxiety and laying in bed,
• 17:19
  Speaker 4: I don't feel like I can go straight to sleep,
• 17:21
  Speaker 4: So for me it's become innate. But if you like
• 17:24
  Speaker 4: sometimes just go to bed without doing it, you know
• 17:26
  Speaker 4: it's not good for you. Right, So we actually need
• 17:29
  Speaker 4: to do those hygiene points before setting up an investment plan,
• 17:32
  Speaker 4: because otherwise that investment plan isn't sustainable.
• 17:35
  Speaker 1: So what are we going to do?
• 17:37
  Speaker 4: First things first, we've done episodes on this, so obviously
• 17:41
  Speaker 4: in the show notes we will link back, so you've
• 17:43
  Speaker 4: got more tools in your toolkit to reference. But the
• 17:46
  Speaker 4: first thing we're going to do is understand risk. So
• 17:48
  Speaker 4: I know I harp on about this all the time,
• 17:51
  Speaker 4: but even if you already have done your risk profile,
• 17:55
  Speaker 4: now's the time to do it again. And the reason
• 17:58
  Speaker 4: is because Jess, as we said before, you're not the
• 18:00
  Speaker 4: same person you were twelve months ago.
• 18:02
  Speaker 1: Things change.
• 18:03
  Speaker 4: Hopefully you've been listening to twelve months. If she's on
• 18:06
  Speaker 4: the money, and you're more educated, you're more empowered. Maybe
• 18:10
  Speaker 4: last year you started your investment portfolio and you're like, okay,
• 18:14
  Speaker 4: so I've started with micro investing and I'm dabbling in
• 18:17
  Speaker 4: this and I want to take it to the next
• 18:19
  Speaker 4: step and I feel more empowered. That's very likely going
• 18:22
  Speaker 4: to have changed your investment risk profile. And I know
• 18:25
  Speaker 4: that that sounds crazy because some people are like, shouldn't
• 18:28
  Speaker 4: that be the same? Always no, because it's really related
• 18:32
  Speaker 4: to how educated you are, the financial circumstances that you're
• 18:35
  Speaker 4: currently in, and what that actually means. So you're going
• 18:39
  Speaker 4: to go do your risk profile and fully understand what
• 18:41
  Speaker 4: it means for you, and to give it a really
• 18:43
  Speaker 4: quick summary. And investment risk is basically the likelihood that
• 18:47
  Speaker 4: you might lose money in something that you've invested, and
• 18:50
  Speaker 4: it takes into consideration a whole heap of different things,
• 18:53
  Speaker 4: so things like the market risk, your education, how old
• 18:57
  Speaker 4: you are, what your plan is, how long these goals are,
• 19:01
  Speaker 4: and puts you in a position where you get a
• 19:03
  Speaker 4: risk profile spat out and jess you might be a
• 19:06
  Speaker 4: growth investor, and then it will tell you the types
• 19:09
  Speaker 4: of investments that might best suit you. Because somebody who
• 19:12
  Speaker 4: is a growth investor, they come out and they will
• 19:15
  Speaker 4: very likely have a suggested portfolio that is made up
• 19:19
  Speaker 4: of shares. So most of that portfolio will be maybe
• 19:22
  Speaker 4: some international shares, maybe some domestic shares, it doesn't matter
• 19:26
  Speaker 4: how that split is, but their amount of cash that
• 19:29
  Speaker 4: they're holding will be very low.
• 19:31
  Speaker 1: I was looking at my.
• 19:32
  Speaker 4: Investment profile the other day, and I am a high
• 19:34
  Speaker 4: growth investor, so I only hold two percent cash, and
• 19:38
  Speaker 4: to be honest, as a high growth investor, a lot
• 19:40
  Speaker 4: of people don't even hold any cash.
• 19:42
  Speaker 1: At that point.
• 19:43
  Speaker 4: But I like to have a little bit of flexibility,
• 19:45
  Speaker 4: Whereas if you came out as more of a conservative investor,
• 19:48
  Speaker 4: it's very likely that you might have like forty percent
• 19:51
  Speaker 4: international shares, forty percent domestic shares and then twenty percent
• 19:55
  Speaker 4: of cash or bonds or something a little bit more stable.
• 19:59
  Speaker 4: So it really and it's actually really important to have
• 20:02
  Speaker 4: this guideline so that you're investing in line with the
• 20:05
  Speaker 4: risk that you want to take on.
• 20:06
  Speaker 1: And you don't get another.
• 20:08
  Speaker 4: Twelve month down the line you're like, oh my gosh, yes,
• 20:10
  Speaker 4: like I'm so stressed because I don't fully comprehend this,
• 20:14
  Speaker 4: or I feel really uncomfortable with this, or this isn't
• 20:16
  Speaker 4: the right fit for me. All Right, that sounds good.
• 20:19
  Speaker 4: I love the tip to go back and refreshing case
• 20:21
  Speaker 4: it's changed. What should we be doing next? Okay, so
• 20:24
  Speaker 4: next is to research your investment options. So you need
• 20:27
  Speaker 4: to find the right investment option for you. So, as
• 20:30
  Speaker 4: I said before, first we start with our risk profile,
• 20:33
  Speaker 4: so we know what we need to look at. Because, yes,
• 20:35
  Speaker 4: if you come out as a high growth investor, why
• 20:37
  Speaker 4: would you spend too much time researching bonds as an
• 20:40
  Speaker 4: option because they're not an option that most high growth
• 20:43
  Speaker 4: investors are trying to pick. So to find the right
• 20:46
  Speaker 4: investment option for you, we're going to do a few things.
• 20:48
  Speaker 4: We're gonna understand return. So, like, what is the expected
• 20:52
  Speaker 4: return on that investment that you want to make. You're
• 20:55
  Speaker 4: gonna look at the timeframe. So how long are you
• 20:57
  Speaker 4: investing for? Is this like for two or three years,
• 21:00
  Speaker 4: in which case you're probably going to go with something
• 21:01
  Speaker 4: a little bit more conservative.
• 21:03
  Speaker 1: Is it five years? Is it ten years? Is it
• 21:05
  Speaker 1: for the long term?
• 21:06
  Speaker 4: Is this like your financial freedom investment so that you
• 21:08
  Speaker 4: can retire, in which case that's a really long timeframe,
• 21:11
  Speaker 4: so you could probably afford to have a little bit
• 21:14
  Speaker 4: more risk. So we need to understand that what access
• 21:18
  Speaker 4: to cash do we need? So are you renovating a
• 21:21
  Speaker 4: house right now and you want to start investing, but
• 21:24
  Speaker 4: you also know you're going to need ten thousand dollars
• 21:26
  Speaker 4: in a few months to pay offer Chibby. Well, in
• 21:29
  Speaker 4: that case, it's not that smart to invest that money
• 21:31
  Speaker 4: right now because you need it to be quite liquid.
• 21:35
  Speaker 4: What is the cost to buy and sell? So how
• 21:37
  Speaker 4: much is it going to cost you to get into
• 21:39
  Speaker 4: the share market? What does that actually mean? How much
• 21:42
  Speaker 4: brokerage are you paying? And how much does it cost
• 21:44
  Speaker 4: to exit that investment? Because something that a lot of
• 21:47
  Speaker 4: people forget is that sometimes there'll be an exit cost.
• 21:51
  Speaker 1: And I know that at this.
• 21:52
  Speaker 4: Time of the year, there are going to be a
• 21:54
  Speaker 4: whole heave of people saying, Oh my gosh, we've got
• 21:56
  Speaker 4: free brokerage, we've got this, we've got that no cost
• 21:59
  Speaker 4: at all to trade on our platform. Look a little
• 22:02
  Speaker 4: bit deeper, because one nothing worth having is ever free.
• 22:06
  Speaker 4: There's very likely to be an exit fee on that
• 22:09
  Speaker 4: because they need to make money somewhere, Jess.
• 22:12
  Speaker 1: The next is tax.
• 22:13
  Speaker 4: I really need you to know what is involved when
• 22:16
  Speaker 4: it comes to tax, because there are tax implications, and
• 22:19
  Speaker 4: I don't want you to be stung with anything unnecessarily.
• 22:22
  Speaker 1: If you're starting really small, it doesn't matter.
• 22:24
  Speaker 4: Too much if I'm being honest, because if you're making money,
• 22:28
  Speaker 4: we are paying tax money win. But if you're in
• 22:31
  Speaker 4: a circumstance where you maybe have an inheritance and you're
• 22:34
  Speaker 4: looking at selling that portfolio, there are going to be implications.
• 22:38
  Speaker 4: If you have put a very large amount of money
• 22:40
  Speaker 4: into the market and you're planning on selling it in
• 22:43
  Speaker 4: nine months, Yess, I'd be really careful because if you
• 22:46
  Speaker 4: then made money, you're going to be up for fifty
• 22:49
  Speaker 4: percent capital gains tax, and that's not that sexy. So
• 22:52
  Speaker 4: while we don't need to be scared, of it. We
• 22:54
  Speaker 4: do need to be super aware and put ourselves back
• 22:57
  Speaker 4: in a position where we're like, yep, I know what
• 22:59
  Speaker 4: I'm doing, really okay with it.
• 23:01
  Speaker 1: It is all good.
• 23:02
  Speaker 4: But we then need after that to look at our
• 23:04
  Speaker 4: platform of choice. So we've done a whole episode on
• 23:08
  Speaker 4: this and we will absolutely link in the show notes
• 23:11
  Speaker 4: back to this episode to make sure that's another tool
• 23:14
  Speaker 4: that you've got in your toolkit to start this Also
• 23:16
  Speaker 4: probably a really good time just to remind everybody that
• 23:19
  Speaker 4: late last year I wrote another book called Investing, which
• 23:22
  Speaker 4: she's on the Money, and it takes you through how
• 23:24
  Speaker 4: to put a whole strategy together right literally, Like I
• 23:27
  Speaker 4: can't tell you how to invest individually because that would
• 23:30
  Speaker 4: be unethical from my point of view but also illegal.
• 23:34
  Speaker 4: But what I can do is take you down a
• 23:36
  Speaker 4: very beautiful garden path that is mint green and gold,
• 23:40
  Speaker 4: and it can take you through every step of the
• 23:42
  Speaker 4: way so you can create your own investment plan. But
• 23:46
  Speaker 4: looking at the different platforms that you want to invest
• 23:48
  Speaker 4: in is really going to start narrowing down what we
• 23:51
  Speaker 4: are going to invest in. So are you looking at
• 23:54
  Speaker 4: a micro investing platform? If so, there are a few,
• 23:57
  Speaker 4: Like there's not many options, but there are a few
• 23:59
  Speaker 4: options here in Australia that you could choose from.
• 24:02
  Speaker 1: So if that's the route.
• 24:03
  Speaker 4: You're going down, maybe wipe everything else off the table
• 24:06
  Speaker 4: and just look at the differences between those two or
• 24:09
  Speaker 4: three platforms, because it's going to stop you having overload.
• 24:13
  Speaker 4: It's going to stop you from being like, oh my gosh,
• 24:15
  Speaker 4: this is just so overwhelming, I don't even know where
• 24:17
  Speaker 4: to start.
• 24:18
  Speaker 1: If it's not.
• 24:19
  Speaker 4: Microinvesting, then maybe you want to go with a DIY platform,
• 24:22
  Speaker 4: in which case you need to start looking at what
• 24:25
  Speaker 4: features and benefits do I want to have? Do I
• 24:27
  Speaker 4: want to really sexy app or do I want to
• 24:29
  Speaker 4: be sent heaps and heaps of research on a daily
• 24:32
  Speaker 4: basis to make a decision. Is my plan to buy
• 24:35
  Speaker 4: ETFs or exchange traded funds, or am I going to
• 24:38
  Speaker 4: be a direct equities kind of gal and go and
• 24:41
  Speaker 4: trade stocks individually on the US Stock Exchange, in which
• 24:44
  Speaker 4: case you need to make sure that the platform or
• 24:47
  Speaker 4: the DIY platform that you're picking actually allows you to
• 24:50
  Speaker 4: do that. Because not all DIY platforms are created the same.
• 24:54
  Speaker 4: It doesn't mean they're good or bad. It's just about
• 24:56
  Speaker 4: accessibility and the thing I would say about DIY is
• 24:59
  Speaker 4: it can be really overwhelming. But yeses in my book
• 25:03
  Speaker 4: that I wrote, I'm quite biased. Even if you don't
• 25:06
  Speaker 4: buy it, just pop into kmart, guys, open to this page,
• 25:09
  Speaker 4: have a little read and see what it means for you.
• 25:12
  Speaker 4: But I did an entire comparison table of all of
• 25:16
  Speaker 4: the platforms from Microinvesting, DIY, robo Advice. They're all in
• 25:22
  Speaker 4: a table so you can immediately see the features and
• 25:24
  Speaker 4: benefits and the costs and what accessibility they have and
• 25:27
  Speaker 4: what they don't have access to, so you can go, oh,
• 25:30
  Speaker 4: that's how that's in Because, for example, some people in
• 25:34
  Speaker 4: our community adore trading with self Wealth, and they're a
• 25:37
  Speaker 4: really solid platform. They've been around for years. They have
• 25:40
  Speaker 4: a lot more research on their platform than most platforms
• 25:44
  Speaker 4: do because they're a little bit more technical, Like the
• 25:47
  Speaker 4: dashboard when you log in is a lot more technical,
• 25:49
  Speaker 4: not in a we can't understand it way, we absolutely can,
• 25:53
  Speaker 4: but it's less flashy, if that makes sense. But the
• 25:56
  Speaker 4: thing about that is they do have a minimum trade,
• 25:58
  Speaker 4: so you have to have five hundred to start with,
• 26:01
  Speaker 4: whereas if you compare it to a share esse, they've
• 26:03
  Speaker 4: got less research. They still have research. They have really
• 26:06
  Speaker 4: great researchers, just not nearly as comprehensive, and some people
• 26:09
  Speaker 4: don't want to read white papers, you know, but their
• 26:12
  Speaker 4: accessibility is one cent, so you can literally invest for
• 26:16
  Speaker 4: one cent on that platform. So if you're like, oh,
• 26:18
  Speaker 4: v I was planning on starting, you know, direct shares
• 26:21
  Speaker 4: with fifty bucks, great, Well maybe you wouldn't look at
• 26:24
  Speaker 4: self wealth because that's not an option. It's not about
• 26:26
  Speaker 4: what you like and what you don't like, and about
• 26:28
  Speaker 4: financial advice. It's actually more about what can I use
• 26:32
  Speaker 4: in my circumstances and what a lines to the goals
• 26:35
  Speaker 4: that I'm trying to achieve. So researching your investment options
• 26:38
  Speaker 4: is really important. Then we've obviously got no won't harp
• 26:40
  Speaker 4: on about it because I know that this episode is
• 26:42
  Speaker 4: getting a little bit lengthy. But then you've got robo
• 26:45
  Speaker 4: advice or direct financial advice and that episode will cover
• 26:48
  Speaker 4: it all for you. Yeah, it's a really good time
• 26:50
  Speaker 4: as well to be jumping on websites if you are
• 26:53
  Speaker 4: choosing between different platforms, because, like you said before, a
• 26:55
  Speaker 4: lot of places offer like new year deals or sign
• 26:58
  Speaker 4: up bonuses and things like that, so definitely shop around.
• 27:01
  Speaker 4: Use that table in the book to kind of give
• 27:02
  Speaker 4: you an idea of what features you really like, and
• 27:05
  Speaker 4: then jump on the websites because you never know what
• 27:07
  Speaker 4: things people might be offering. And obviously, you know, the
• 27:09
  Speaker 4: books go to print and then people change things and.
• 27:12
  Speaker 1: The whole thing.
• 27:12
  Speaker 4: Yeah, that was actually one thing I was about to
• 27:14
  Speaker 4: say is like I tried so hard for that to
• 27:17
  Speaker 4: be super factually accurate, But like, what if phrase changed
• 27:20
  Speaker 4: their face and it's a new year, so there might
• 27:22
  Speaker 4: be different sign up bonuses or different features and benefits
• 27:25
  Speaker 4: available that weren't available when I wrote the book. So
• 27:28
  Speaker 4: if you look at one and you're like, I think
• 27:29
  Speaker 4: that's the option for me, please just jump on their
• 27:32
  Speaker 4: website and cross check the information to make sure that
• 27:35
  Speaker 4: it's still aligned to what you think you're getting, because
• 27:38
  Speaker 4: I would hate for you to sign up to something
• 27:39
  Speaker 4: and then be like, oh shit, like.
• 27:40
  Speaker 1: They changed that.
• 27:41
  Speaker 4: Yeah, no, Due diligence always always wear such big fans
• 27:44
  Speaker 4: of that. Okay, so we've done our finance order, We've
• 27:47
  Speaker 4: got our budget and cash flow all set up, we've
• 27:49
  Speaker 4: set our goals, we know where we want our money
• 27:51
  Speaker 4: to go. We figured out our risk profile, and we've
• 27:53
  Speaker 4: explored all of our different investment options, and we've got
• 27:55
  Speaker 4: a pretty good idea of what we think might align
• 27:58
  Speaker 4: well to us and our values.
• 27:59
  Speaker 1: Queen, Bye, we behavior what now? All right? So this
• 28:03
  Speaker 1: is the one that.
• 28:04
  Speaker 4: I think most people struggle with, and that's actually taking
• 28:07
  Speaker 4: the step. So I know that there is going to
• 28:10
  Speaker 4: be a handful of you who are listening who are
• 28:13
  Speaker 4: just so excited to invest. Maybe you've been listening to
• 28:16
  Speaker 4: Shees on the Money this entire time, Maybe you have
• 28:19
  Speaker 4: done all the research, maybe you've put together a spreadsheet
• 28:22
  Speaker 4: and actually like analyzed it all yourself, but you haven't
• 28:24
  Speaker 4: invested yet. This is the reminder to take the next step.
• 28:28
  Speaker 4: I promise it is not as hard as you think
• 28:32
  Speaker 4: it is. Women, especially get analysis paralysis where there are
• 28:36
  Speaker 4: too many options on the table, or we get information
• 28:39
  Speaker 4: overload and we just feel so overwhelmed that we don't
• 28:42
  Speaker 4: make a decision. So I think now is a good
• 28:45
  Speaker 4: reminder to say, Look, not making a decision or not
• 28:49
  Speaker 4: investing is still a choice. I know that you're like, oh,
• 28:51
  Speaker 4: I just haven't decided to do it yet. I totally
• 28:54
  Speaker 4: get that. But if this is a goal of yours
• 28:56
  Speaker 4: and something that you really want to achieve, now is
• 28:59
  Speaker 4: the time to take the first step. You do not
• 29:02
  Speaker 4: have to start at the very top. You do not
• 29:04
  Speaker 4: have to invest your life savings. You do not even
• 29:07
  Speaker 4: have to invest five hundred dollars to start. But what
• 29:10
  Speaker 4: you do need to do is if this is a
• 29:12
  Speaker 4: plan for you, and this is something that you want
• 29:14
  Speaker 4: to achieve, and you just can't put yourself in a
• 29:16
  Speaker 4: position where you're like, oh my gosh, I just feel
• 29:18
  Speaker 4: like I keep putting it off, or I don't know
• 29:19
  Speaker 4: what platform to go with. What if it's not the
• 29:22
  Speaker 4: right platform, Jess Like, it's fine to change, Yeah, Like
• 29:26
  Speaker 4: it's fine to have a play on one and be like,
• 29:28
  Speaker 4: oh I don't really like this and move to another.
• 29:31
  Speaker 1: Because let's see those fees.
• 29:33
  Speaker 4: As much as some people might go, oh, don't dabble
• 29:36
  Speaker 4: around in lots of different platforms. You waste your money,
• 29:38
  Speaker 4: you lose some fees. Yes, that's not a good idea.
• 29:41
  Speaker 4: What if that's an investment in your financial education and
• 29:44
  Speaker 4: that's the money that actually got you started investing. What
• 29:47
  Speaker 4: if you know, the trading fee of two dollars fifty
• 29:49
  Speaker 4: a month actually was an investment in your financial education.
• 29:53
  Speaker 4: Just what's the worst that could happen? You lose the
• 29:55
  Speaker 4: ten dollars that you invested, like it's not actually a
• 29:59
  Speaker 4: bad thing. I think that we need to take the
• 30:02
  Speaker 4: next step and start giving ourselves exposure to the share market,
• 30:05
  Speaker 4: because that's the only way we are going to learn.
• 30:08
  Speaker 4: I was talking to a couple of friends, and I
• 30:10
  Speaker 4: think I've said this on the podcast before, but my
• 30:12
  Speaker 4: job when I was a financial advisor was actually quite technical, right,
• 30:17
  Speaker 4: Like I had to know everything. I had to have
• 30:19
  Speaker 4: a degree, I had to be quite qualified to do
• 30:21
  Speaker 4: that role. I had to pass the Foresea exam. But
• 30:25
  Speaker 4: my knowledge really came on the job, Like it came
• 30:28
  Speaker 4: from being in the markets every day. It came from
• 30:31
  Speaker 4: the conversations with the stockbrokers that I would talk to
• 30:34
  Speaker 4: on a regular basis. It came from the financial advisors
• 30:37
  Speaker 4: around me. It came from my friends that I made
• 30:39
  Speaker 4: in the industry. He'd be like, Oh did you see this?
• 30:41
  Speaker 1: What about this?
• 30:42
  Speaker 4: Soa like it came from experience, and I think that
• 30:46
  Speaker 4: we need to give ourselves.
• 30:47
  Speaker 1: The gift of experience now.
• 30:49
  Speaker 4: And I've had so many people message me recently being like, Oh,
• 30:52
  Speaker 4: I just can't seem to take the next step.
• 30:54
  Speaker 1: VI, what do I do?
• 30:56
  Speaker 4: I'm just I don't know what to say to you,
• 30:58
  Speaker 4: because it's just start. But stop being so overwhelming on yourself.
• 31:03
  Speaker 4: Stop putting yourself in a position where you think that
• 31:05
  Speaker 4: you need to be all end all and absolutely go
• 31:08
  Speaker 4: the whole hog because you don't. Just take one step
• 31:11
  Speaker 4: in the right direction, and I promise it'll start snowballing
• 31:14
  Speaker 4: from there. Oh my gosh, what a perfect place to
• 31:17
  Speaker 4: leave it. And if you are feeling overwhelmed, don't forget.
• 31:19
  Speaker 4: We have an entire back catalog of investing specific content.
• 31:22
  Speaker 4: We did an entire investing episode every single month the
• 31:25
  Speaker 4: entire year of twenty twenty two, which is pretty huge
• 31:28
  Speaker 4: if you ask me, So definitely go back. There's a
• 31:31
  Speaker 4: lot of information there, and there's heaps as well in
• 31:33
  Speaker 4: your second book, Investing with Shees on the Money. Genius says,
• 31:37
  Speaker 4: all right, well we you have to go grab a
• 31:39
  Speaker 4: coffee because I am exhausted after essentially word vomiting everywhere.
• 31:44
  Speaker 4: I was just too excited. So thank you for allowing
• 31:46
  Speaker 4: me the space to do that. New Year, New Me vibes.
• 31:49
  Speaker 1: I feel happy New Year.
• 31:56
  Speaker 4: The advice shared on Shees on the Money is general
• 31:59
  Speaker 4: in nature and does not consider your individual circumstances. She's
• 32:03
  Speaker 4: on the Money exists purely for educational purposes and should
• 32:06
  Speaker 4: not be relied upon to make an investment or financial decision.
• 32:10
  Speaker 1: If you do choose to buy a financial product.
• 32:12
  Speaker 4: Read the PDS TMD and obtain appropriate financial advice tailored
• 32:16
  Speaker 4: towards your needs. Victoria Divine and She's on the Money
• 32:20
  Speaker 4: are authorized representatives of money SHERPA, pty Ltd ABN three
• 32:25
  Speaker 4: two one six four nine two seven seven zero eight
• 32:28
  Speaker 4: AFSL four five one two eight nine