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Investing Tools For Financial Success · She's On The Money

0:00
Speaker 1: Hello, my name's Sanatasha Nabananga Bamblet. I'm a proud yr
0:04
Speaker 1: the Order Kerni Whoalbury and a waddery woman. And before
0:08
Speaker 1: we get started on She's on the Money podcast, I
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Speaker 1: would like to acknowledge the traditional custodians of the land
0:14
Speaker 1: of which this podcast is recorded on a wondery country,
0:18
Speaker 1: acknowledging the elders, the ancestors and the next generation coming
0:22
Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing
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Speaker 1: and the storytelling of you to make a difference for
0:30
Speaker 1: today and lasting impact for tomorrow.
0:33
Speaker 2: Let's get into it.
0:34
Speaker 3: She's on the Money, She's on the Money.
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Speaker 4: Hello, and welcome to She's on the Money, the podcast
1:01
Speaker 4: for millennials who want financial freedom. Investing can be confusing,
1:06
Speaker 4: especially when there is so much information out there giving
1:09
Speaker 4: you conflicting advice. Fortunately, there are a range of tools
1:13
Speaker 4: available that will help you invest more seamlessly, all of
1:16
Speaker 4: which Victoria Devine uses herself and that will be revealing
1:20
Speaker 4: live on the podcast today.
1:22
Speaker 2: Do you want me to tell everybody that I use them?
1:25
Speaker 4: It adds authority? Okay, trust me. My name is Georgia
1:29
Speaker 4: King and the aforementioned Victoria divine joins me as always
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Speaker 4: V another show all about investing today, figure this time
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Speaker 4: is about the tools that make it all easier. Just
1:40
Speaker 4: how excited to you for today's episode?
1:41
Speaker 2: A medium medium?
1:44
Speaker 5: You know, I'm really excited, but you already yeeded me
1:47
Speaker 5: out and said, O V users these, So obviously I
1:49
Speaker 5: can't have any lead up to be like, oh, I'll
1:52
Speaker 5: find out at the end whether I like it.
1:53
Speaker 2: I can't be like this tool is it good?
1:56
Speaker 4: No, they're all good. These are all good.
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Speaker 2: It's true, it's true. And that is.
2:00
Speaker 4: Literally my first question of today, is you confirming that
2:03
Speaker 4: you do use all of these tools that we're about
2:05
Speaker 4: to dissect. I do actually use all of these tools.
2:08
Speaker 4: And when we were pulling this episode together, we really
2:10
Speaker 4: sat down and had to chat about this because I
2:12
Speaker 4: was like, I don't want to just do a Google
2:14
Speaker 4: of tools, because you can look up investing tools really
2:17
Speaker 4: easily on Google and find out, you know, what the
2:19
Speaker 4: number one is. But this is just what I use
2:22
Speaker 4: and how it works for me. So obviously take all of.
2:25
Speaker 5: This with a grain of salt. Obviously, you don't need
2:28
Speaker 5: all of these to be an investor. These are just
2:31
Speaker 5: handy things that you can have in your toolkit. The
2:34
Speaker 5: tools toolkit perfect so that you can be a more
2:37
Speaker 5: educated and you know, more confident investor. So from my perspective, yeah,
2:42
Speaker 5: I really love all of these. I don't want to
2:44
Speaker 5: be too self promotional.
2:45
Speaker 4: Though, No, no, no, all good they let's hop straight
2:48
Speaker 4: into it. The first tool on our list seems obvious,
2:51
Speaker 4: but it also seems like the perfect place to start,
2:53
Speaker 4: and that is to know your budget. Talk us through
2:56
Speaker 4: why this is so essential to our investing strategy.
2:59
Speaker 5: Now, you guys are not going to be surprised that
3:01
Speaker 5: I started here, and obviously understanding your budget and cash
3:04
Speaker 5: flow is going to put you in a position where
3:06
Speaker 5: you know what you can invest. If you're able to
3:08
Speaker 5: better understand your money, you're able to better create wealth.
3:11
Speaker 5: Like it is a no brainer. I absolutely get so frustrated.
3:15
Speaker 5: G I talk to so many people. They're like, yeah,
3:17
Speaker 5: but budgeting's boring and I don't want to do it.
3:18
Speaker 5: Can you tell me more about investing? I'm like, no,
3:20
Speaker 5: sit down.
3:21
Speaker 2: You have to do your budget. You have to do
3:22
Speaker 2: your cash flow.
3:23
Speaker 5: If you're not every single dollar that's coming in everything
3:26
Speaker 5: that's going out, you're not only going to be far
3:28
Speaker 5: more in control. You're gonna know what's left over to
3:31
Speaker 5: invest with, but you're also going to have.
3:33
Speaker 2: A handle on whether that aligns to your.
3:34
Speaker 5: Values and going to be able to strip back what
3:36
Speaker 5: you're spending to allocate more to investing. Like, let's get
3:40
Speaker 5: it together. It is a very smart idea. Obviously, that
3:42
Speaker 5: is my first step when it comes to figuring out
3:44
Speaker 5: your investment strategy. This process is obviously also going to
3:47
Speaker 5: help you figure out whether you actually have anything to
3:49
Speaker 5: invest or not, or if it's just a bit of
3:51
Speaker 5: a pipe dream at this point, because you know, I
3:53
Speaker 5: don't want to be too negative too early in the podcast,
3:56
Speaker 5: but sometimes I talk to.
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Speaker 2: People like, yeah, I'm gonna start.
3:58
Speaker 5: I'm gonna start, and then we really get into bud
4:00
Speaker 5: and cash flow and you're maybe in a heap of
4:02
Speaker 5: personal debt.
4:03
Speaker 2: I get it.
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Speaker 5: I was so excited to invest when I was in
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Speaker 5: debt too, But paying off your debt is an investment
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Speaker 5: in itself when we really need to prioritize that first.
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Speaker 5: And so from my perspective, like get our financial house
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Speaker 5: in order first, and then we can start our investment
4:18
Speaker 5: journey starts with the budget.
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Speaker 4: Though sorry, nice, nice, It makes sense without sounding too
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Speaker 4: self promotional.
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Speaker 2: Sounding self promotional before it's your turn.
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Speaker 4: We obviously have a budgeting template available on our website,
4:30
Speaker 4: and also there is your Budgeting and cash Flow Masterclass,
4:34
Speaker 4: which I'm feeling could be very helpful for anyone who
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Speaker 4: is having troubles with sorting out their finances.
4:40
Speaker 5: It is a course that is applicable internationally, and as
4:44
Speaker 5: much as it is a course you like, I don't
4:45
Speaker 5: really want to do it, to be honest. A lot
4:47
Speaker 5: of people download it to some of the videos, but
4:49
Speaker 5: the real value of that course is the tool that
4:52
Speaker 5: is included. It is the budget and cash flow spreadsheet
4:55
Speaker 5: that I have created. If you've never used a spreadsheet
4:57
Speaker 5: in your life, I promise you can use this one
5:00
Speaker 5: because I have created overlays so it actually just looks
5:03
Speaker 5: like a very fancy notebook. You just pop all your
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Speaker 5: numbers in. It makes a whole heap of sense. But
5:08
Speaker 5: that is going to enable you to take it to
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Speaker 5: the next level. Show you what bank accounts you need
5:12
Speaker 5: to set up and organize and put you in the
5:14
Speaker 5: best position to be successful. You know, I don't want
5:16
Speaker 5: to go on about it and on about it. If
5:18
Speaker 5: you want to check it out, it is on this
5:19
Speaker 5: she's on the money website. There are a whole heap
5:21
Speaker 5: of like testimonials and like examples and exactly what's included.
5:25
Speaker 5: And then, because you are a pod listener, let's be
5:28
Speaker 5: really self promotional, use the code POD five zero, so
5:31
Speaker 5: pod fifty for fifty bucks off.
5:33
Speaker 4: Because if we.
5:34
Speaker 2: Look after our friends, we certainly do.
5:36
Speaker 4: Next on the list is assessing and understanding our risk
5:40
Speaker 4: profile as a tool. Why is it so very important
5:44
Speaker 4: to understand our risk profile before we start the journey
5:47
Speaker 4: into investing?
5:48
Speaker 2: Do you know what I have you a fit of
5:49
Speaker 2: a laugh about.
5:50
Speaker 5: Over this side of the table, people are going to
5:52
Speaker 5: have started to listen to this podcast being like sick.
5:54
Speaker 5: She's going to give us all these apps we can
5:56
Speaker 5: just download and become super investors. Low joke's on you.
6:00
Speaker 5: These are actual tools that are actually going to help you,
6:03
Speaker 5: not just be an app that you use for a
6:04
Speaker 5: month and then never log back into and then the
6:07
Speaker 5: next time you look at it Apple Icloud's asking you
6:09
Speaker 5: if you really want to download it back from the cloud,
6:11
Speaker 5: Like that is what's going to happen. If I give
6:13
Speaker 5: you just recommendations for investment apps, it's not going to
6:16
Speaker 5: help your risk profile is one of the most powerful tools.
6:20
Speaker 5: First tool we talked about, whether you use my budget
6:23
Speaker 5: and cash fload program or not, is a budget. Having
6:25
Speaker 5: that is tool number one.
6:27
Speaker 2: Having.
6:27
Speaker 5: Tool number two is your risk profile, because once your
6:30
Speaker 5: budget is sorted and you know how much money you
6:31
Speaker 5: have to invest, you need to establish how you want
6:34
Speaker 5: to invest and how that fits with your risk profile.
6:37
Speaker 5: Your risk profiles are like a little bit of a
6:38
Speaker 5: deep dive insight into you Georgia king into you as
6:42
Speaker 5: an individual and what you're willing to put up within
6:44
Speaker 5: the investment world and what you're not and what might
6:46
Speaker 5: feel too risky and what might feel comfortable, so that
6:48
Speaker 5: we're always aligning our investment plans with our goals and
6:52
Speaker 5: with who we are. We've obviously done an entire episode
6:55
Speaker 5: on Cheese on the Money on risk profiles, so have
6:58
Speaker 5: a little bit of a scroll back to that one.
6:59
Speaker 5: But for anyone who is new to Cheese on the Money,
7:01
Speaker 5: I feel like I've just explained.
7:03
Speaker 2: Some of it.
7:03
Speaker 5: But it's essentially a process you go through when you're
7:06
Speaker 5: with a financial advisor, or you can do it on
7:08
Speaker 5: your own to figure out how open or adverse you
7:11
Speaker 5: are to risk or to investing riskly, and from there
7:15
Speaker 5: you're able to set up an investment strategy that fits
7:17
Speaker 5: with your goals and what you're comfortable with. You really
7:19
Speaker 5: can't start investing without understanding your risk profile because it
7:23
Speaker 5: is a bit like analysis paralysis. You'll feel overwhelmed, you'll
7:26
Speaker 5: feel like you don't know where to go, and without
7:28
Speaker 5: a risk profile, the options for investing are endless. When
7:33
Speaker 5: you have a risk profile, it really whittles down the
7:36
Speaker 5: options that are available to you. So, for example, if
7:39
Speaker 5: you're a high growth investor, that's where you'd be looking
7:42
Speaker 5: at individual shares and mutual funds, and you'd be looking
7:45
Speaker 5: at managed accounts. If you are a little bit more
7:47
Speaker 5: conservative and maybe you're sitting in just like a balanced portfolio,
7:51
Speaker 5: maybe an ETF is a good option for you, and
7:54
Speaker 5: maybe some bonds are what you want to dabble in.
7:57
Speaker 5: The things you can and should invest in is going
7:59
Speaker 5: to veery greatly depending on your risk profile, so knowing
8:02
Speaker 5: it is essential.
8:04
Speaker 4: G In terms of that as a tool, V is
8:07
Speaker 4: there like some kind of template we can download, like
8:09
Speaker 4: a little quiz we can do.
8:11
Speaker 2: On the money website?
8:12
Speaker 4: Do you think I do?
8:14
Speaker 2: Do you think I do? I do this? For you,
8:15
Speaker 2: baby be.
8:17
Speaker 4: The next on our list is to have an emergency
8:20
Speaker 4: fund set up so that you never have to sell
8:22
Speaker 4: your assets if your investments don't work out. Why is
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Speaker 4: this a handy tool?
8:26
Speaker 5: Obviously, I encourage absolutely everyone under the sun to have
8:30
Speaker 5: an emergency fund, even if you're not investing yet, even
8:33
Speaker 5: if you're in debt. I'm a big advocate of having
8:36
Speaker 5: an emergency fund even when you're in debt, and the
8:39
Speaker 5: reason is because then you don't have to rely on
8:41
Speaker 5: debt again if another emergency pops up. The reason it's
8:45
Speaker 5: really helpful from an investment perspective is that having a
8:48
Speaker 5: buffer on hand is going to mean that you never
8:50
Speaker 5: need to sell any investments if something pops up. Like
8:52
Speaker 5: if it's all in investments and then you know your
8:54
Speaker 5: car brakes, what are you gonna do, sell it a
8:56
Speaker 5: bad time and cut your losses?
8:58
Speaker 2: Like, that's not what we're investing for.
9:00
Speaker 5: We're investing for the long term so that we put
9:03
Speaker 5: ourselves in a better financial position. And by not having
9:06
Speaker 5: an emergency fund, you're jeopardizing your investment journey.
9:09
Speaker 2: Bad idea. We don't do that. That is not a
9:11
Speaker 2: smart thing to do. She's on the money family member
9:13
Speaker 2: would not do that.
9:14
Speaker 4: She wouldn't.
9:14
Speaker 2: We don't do that.
9:16
Speaker 5: As we talk about on She's on the Money time
9:18
Speaker 5: and time again, I feel like I'm a broken record,
9:20
Speaker 5: which is fine because like one day, every single person
9:24
Speaker 5: in that She's on the Money community is gonna be
9:26
Speaker 5: an active investor and I cannot wait. But if you
9:30
Speaker 5: don't have a you to hold your investments for ten years,
9:33
Speaker 5: it's not worth holding them for ten minutes. If you
9:35
Speaker 5: do have to pull from your investments, that could actually
9:38
Speaker 5: curtail everything you've been working towards and could put you
9:41
Speaker 5: further back than when you started, depending on how the
9:43
Speaker 5: market is situated at the time that you sold the shares.
9:46
Speaker 5: Not a good idea. We don't recommend it. We don't
9:48
Speaker 5: really one out of ten do not recommend. And on
9:50
Speaker 5: that V I know this.
9:52
Speaker 4: Is probably self explanatory, but we shouldn't have our emergency
9:55
Speaker 4: fund in our investments.
9:57
Speaker 5: No, I do not invest our emergency fund. Out of
10:00
Speaker 5: ten idea do not recommend. The reason we don't invest
10:03
Speaker 5: our emergency fund is because we need immediate access to it,
10:06
Speaker 5: and investing does have some barrier to accessing it immediately.
10:10
Speaker 5: But also give your emergency fund some slack. It is
10:14
Speaker 5: doing what it needs to do. That money is working
10:17
Speaker 5: hard for you because it's protecting you. Not every single
10:20
Speaker 5: dollar has to have a nominal return.
10:22
Speaker 4: Brilliant b Let's have a little break there.
10:25
Speaker 2: We love a little break on that to get a smoothie.
10:27
Speaker 4: Yeah, go on. On the other side, we will chat
10:29
Speaker 4: through our final three handy tools for investors. It's gonna
10:32
Speaker 4: go anywhere, green smoothie. Let's go v straight back into it.
10:40
Speaker 4: The next handy tool on our list is the ASX
10:44
Speaker 4: website and it's not.
10:46
Speaker 5: As self promotional as me going You need my budget
10:48
Speaker 5: or a budget and a risk profile and an emergency fund.
10:52
Speaker 5: Those are three very very good tools. Now we're going
10:56
Speaker 5: to explore the world.
10:57
Speaker 4: The world outside of SOTOM tell me all ax, it
11:01
Speaker 4: does not exist.
11:02
Speaker 5: Look, I've written this one down one because the Huster
11:04
Speaker 5: all the time obsessed with them. Thanks guys for being
11:07
Speaker 5: the ogs. But the ASX website is a hub with
11:10
Speaker 5: so much information on it when it comes to the
11:12
Speaker 5: Australian Stock Exchange. It is extremely useful for company information
11:16
Speaker 5: like at a glance. They have like individual company pages
11:19
Speaker 5: and it has tools that enable you to learn more
11:21
Speaker 5: about companies that you might be interested in investing in. It'll
11:24
Speaker 5: tell you immediately what the stock price is, what the
11:27
Speaker 5: historical stock price is. You can deep dive into their company,
11:30
Speaker 5: like everything that you need is going to be there.
11:33
Speaker 5: They also have really great tools which I feel like
11:36
Speaker 5: not enough people take advantage of, like webcasts that you
11:39
Speaker 5: can watch whenever you want, covering off on a range
11:41
Speaker 5: of topics. They also have a whole section on how
11:44
Speaker 5: to start investing, and they have information on every style
11:47
Speaker 5: of investing plan and plenty more. Please take this with
11:51
Speaker 5: a grain of salt, though, yeah, because if you go
11:53
Speaker 5: there and you're like, oh, I'm so excited to, you know,
11:56
Speaker 5: get all of this information, it is definitely a little
12:00
Speaker 5: bit drier than you would get at Cheese on the Money.
12:03
Speaker 2: And I totally get that.
12:04
Speaker 5: I'm all about absorbing as much information as possible, but
12:07
Speaker 5: obviously we could have always googled how to invest. It
12:10
Speaker 5: doesn't mean it's the most engaging content. But the thing
12:14
Speaker 5: I like about it is we know it is correct.
12:16
Speaker 5: It is the ASEX. It is not just some random
12:18
Speaker 5: product website. And that's the next point I want to
12:21
Speaker 5: make about the ASEX website is that it isn't product aligned,
12:24
Speaker 5: which is fantastic, and it means that you're going to
12:26
Speaker 5: receive non bias information and insights on how companies perform.
12:30
Speaker 5: And while they won't tell you what the company does
12:32
Speaker 5: because they're just about performance metrics, you can for free
12:36
Speaker 5: obviously look at stock's performance on that website, and you
12:38
Speaker 5: can google what the company does. Obviously that is easy
12:42
Speaker 5: to do. Other cool features are that you can set
12:45
Speaker 5: alerts and announcements on stocks you might want to buy.
12:47
Speaker 5: So SAG you're like, you know what, I've been looking
12:49
Speaker 5: at this stock, but right now I feel like it's
12:51
Speaker 5: a little bit overpriced. I would buy it if it
12:54
Speaker 5: goes down to this amount. Set an alert, asex will
12:57
Speaker 5: send you an email and say, hey, g that stocks
12:58
Speaker 5: at the price that you want to buy it at,
13:00
Speaker 5: and then you can go and buy it at the
13:01
Speaker 5: price you want to buy it at.
13:02
Speaker 4: That's funny win.
13:04
Speaker 5: And then also the other benefit here is they're not
13:06
Speaker 5: going to spam you like a lot of other platforms
13:08
Speaker 5: that talk about investing content. I mean, we don't do that.
13:11
Speaker 5: But also they're not going to spam you. Often when
13:14
Speaker 5: it comes to investing, there can be lots of emails
13:16
Speaker 5: that get around and not all of them are relevant.
13:18
Speaker 5: But the AX isn't actually going to fill your in
13:20
Speaker 5: box with dense information that you just don't need. Not
13:23
Speaker 5: a sponsored mention as always just good eggs doing good things.
13:26
Speaker 4: So you did touch on my next question V. When
13:31
Speaker 4: I was doing a little bit of reading ahead of
13:33
Speaker 4: today's episode, I did jump on the ASX website. I feel,
13:38
Speaker 4: as someone who is a little intimidated by investing, I
13:41
Speaker 4: found it quite overwhelming in how the information was presented.
13:45
Speaker 5: It was like me, I wanted to mention up front
13:47
Speaker 5: that I was like, look, it is a little bit drier.
13:50
Speaker 5: It's probably not what you want it to be, but
13:53
Speaker 5: when it comes to good information, that's where you're going
13:55
Speaker 5: to find.
13:56
Speaker 4: Some Do you have any tips for like navigating it
13:58
Speaker 4: or should we maybe like starf with She's on the
14:00
Speaker 4: Money and then use the A I.
14:02
Speaker 5: Mean, I would a life start with ses on the
14:03
Speaker 5: Money Because I am trying very hard to cover every
14:06
Speaker 5: single topic for you. But if you want additional information,
14:08
Speaker 5: as I've always said, please don't only rely on our podcast,
14:12
Speaker 5: not because we aren't comprehensive, but because I think there's
14:15
Speaker 5: a lot of power in having a plethora of different
14:18
Speaker 5: places and coming to your own conclusion. My opinion, George's
14:22
Speaker 5: opinion does not mean it is your opinion. Just because
14:24
Speaker 5: we present it in a certain way or give you
14:27
Speaker 5: a certain idea of something doesn't mean that that's going
14:29
Speaker 5: to work for you. So I'm all about looking externally
14:32
Speaker 5: and finding other places to get information. So from my perspective,
14:37
Speaker 5: have a look on their website. They obviously have a
14:39
Speaker 5: search bar. I would use it mostly when I'm looking
14:42
Speaker 5: for something specific, like I want more information on ETFs
14:45
Speaker 5: or I want more information on a particular company. They
14:48
Speaker 5: also have the share Game. So the share Game is
14:51
Speaker 5: a game that you can play with fake money that
14:53
Speaker 5: they run a few times a year, where you can
14:55
Speaker 5: basically trade in the market with fake money, and after
14:57
Speaker 5: a certain period of weeks you can see how you
15:00
Speaker 5: and I think that that's actually a really good way,
15:03
Speaker 5: do you know, do a little bit of testing around
15:05
Speaker 5: share trading with fake money. It's basically like playing Monopoly,
15:08
Speaker 5: which we love. However, yeah, it is a little bit dry.
15:11
Speaker 5: I'm sorry. Sorry, if they're listening, they're not going to
15:13
Speaker 5: be very happy with me, But that's okay. I just
15:16
Speaker 5: think it's important to point it out. The other thing
15:18
Speaker 5: is you can always google it. You can always type
15:21
Speaker 5: in ASX website and then what you're looking for, and
15:23
Speaker 5: Google will tell you what you're looking for on that website.
15:25
Speaker 5: I was about to segue into another website recommendation, but
15:28
Speaker 5: I'm not going to do it because I know you're
15:29
Speaker 5: about to ask perfect.
15:31
Speaker 4: So the next tool V is, of course the surprise.
15:35
Speaker 4: It's the money Smart website and their very handy compound
15:39
Speaker 4: interest calculator.
15:40
Speaker 5: It's not the only thing I want to recommend. The
15:42
Speaker 5: hire website is seek well.
15:44
Speaker 4: It has been over the last few years doing this podcast,
15:47
Speaker 4: the money Smart website has been a really useful tool
15:50
Speaker 4: for helping me get speed with everything writing a lot.
15:55
Speaker 2: But they're not you want to talk government, let me.
15:57
Speaker 4: Know, so tell me more about the compound interest calculator
16:02
Speaker 4: as well as just everything good about the money smart website.
16:05
Speaker 5: All right, So I recommended the ASEX one first. It
16:08
Speaker 5: wasn't because it came first. It was because I wanted
16:10
Speaker 5: you to like build up and be like, oh, okay,
16:11
Speaker 5: that sounds good, but what's better Money Smart's website.
16:14
Speaker 2: It is so good.
16:15
Speaker 5: Obviously different information, though the asex website has a whole
16:19
Speaker 5: heap of stock information and information on companies, whereas the
16:23
Speaker 5: money Smart website is more about financial literacy. My favorite
16:26
Speaker 5: thing on it, it's no secret I have told you
16:29
Speaker 5: about it a billion times publicly, the compound interest calculator.
16:33
Speaker 5: It actually helps you work out what you would make
16:36
Speaker 5: on interest from your investments based on average returns, and
16:39
Speaker 5: compare that to what you would have had if your
16:41
Speaker 5: money had just been stagnantly sitting in a low interest
16:43
Speaker 5: bank account. All of it is customizable, so you can
16:46
Speaker 5: go in and be like, oh, what would happen if
16:48
Speaker 5: I invested five dollars a week or five dollars a month,
16:50
Speaker 5: or five dollars a year or five thousand, Like, you
16:53
Speaker 5: can change all of the metrics. You can change the timeframe,
16:56
Speaker 5: you can change the interest rate, you can change all
16:58
Speaker 5: of it, and it's so friendly. But from my perspective,
17:02
Speaker 5: the best thing about the compound Interest Calculator is the
17:05
Speaker 5: ability to work out what you're currently doing and whether
17:09
Speaker 5: it's enough to create financial freedom. So if you're investing
17:12
Speaker 5: and you're like, yeah, I want to retire early, you
17:14
Speaker 5: need to work out what retiring early means. And I'm
17:17
Speaker 5: going to use exactly the same example as they always do,
17:19
Speaker 5: because I want to get into your heads because then
17:21
Speaker 5: it's scalable on either side. But Georgia, if you are
17:24
Speaker 5: trying to work towards a sixty thousand dollars passive income,
17:27
Speaker 5: you need a one point two million dollar portfolio. So
17:30
Speaker 5: this compound interest calculator is going to tell you whether
17:33
Speaker 5: your current contributions are going to help you get there
17:36
Speaker 5: or maybe you need to make some more. So it's
17:38
Speaker 5: just a cool calculator. Okay, guys, super simple. You plug
17:42
Speaker 5: in all of your information and it tells you what
17:44
Speaker 5: it does. And to be honest, the beauty of this
17:46
Speaker 5: tool is that the maths is easy.
17:48
Speaker 2: You don't have to do it. It tells you.
17:50
Speaker 5: And it has a cute graph to boot free graph.
17:53
Speaker 5: Cute graph we love above it ten out of ten.
17:55
Speaker 5: So you can see what you're working towards and you
17:57
Speaker 5: can see where your hard work is aiming and.
17:59
Speaker 2: Be reminded of way you're doing what you're doing.
18:01
Speaker 4: Love. Yeah, Well it'll help you set those goals as well,
18:04
Speaker 4: won't it.
18:04
Speaker 3: Yeah?
18:05
Speaker 1: Exactly obvious.
18:06
Speaker 4: Yeah, And to be.
18:06
Speaker 5: Honest, it enables you to really work backwards. Like if
18:10
Speaker 5: you're like, oh, well, oh I thought that that was
18:12
Speaker 5: a lot, and I know that it can be a
18:14
Speaker 5: little bit disenchanting sometimes when you jump on this website
18:17
Speaker 5: and you're.
18:17
Speaker 2: Like, oh, I've been investing like two hundred bucks a month.
18:20
Speaker 2: I'm really young. This should equal heaps.
18:23
Speaker 5: And then you're like, ah, it's not going to get
18:25
Speaker 5: me to the goal I thought I would get to.
18:27
Speaker 5: That's okay, because during different seasons of our life, we
18:31
Speaker 5: have more or less to invest, so it might not
18:33
Speaker 5: be always that it's just this amount per month. That
18:36
Speaker 5: could be more later, or you could just be creating
18:38
Speaker 5: a plan because you don't actually have the ability to
18:41
Speaker 5: invest right now. But you're like, okay, well, I know
18:44
Speaker 5: that in five years I'll probably have the ability to invest.
18:47
Speaker 5: Whether you're a UNI student or you just don't have
18:49
Speaker 5: free cash flow at the moment, or you're a single
18:50
Speaker 5: mom and you're like, I cannot wait until my kids
18:52
Speaker 5: get to school so I can start earning an income again,
18:55
Speaker 5: Like you can make a plan for the future so
18:57
Speaker 5: you feel more financially secure. Financial security doesn't just come
19:01
Speaker 5: from having cash in the bank. It comes from also
19:03
Speaker 5: having a plan, and to me, this calculator helps you
19:06
Speaker 5: do that too.
19:07
Speaker 4: So nice.
19:07
Speaker 2: We love I love it too.
19:09
Speaker 4: Other great things about the Money Smart website from my experience,
19:13
Speaker 4: just include how easy to understand. Their definitions are about
19:16
Speaker 4: a lot of things. I've got great things very well. Yeah,
19:19
Speaker 4: they just really simplify it all down, but it's very
19:21
Speaker 4: similar to what we try to do it She's on
19:23
Speaker 4: the Money. So love their work. Thank you the government.
19:27
Speaker 2: Thanks the government.
19:29
Speaker 4: This takes us to our very last tool of.
19:33
Speaker 2: The day, which self indulge.
19:37
Speaker 4: It is, of course, your brand new book investing with
19:41
Speaker 4: She's on the Money. Talk us through it, my girl,
19:44
Speaker 4: tell me all about it and how it will help
19:47
Speaker 4: people start investing.
19:49
Speaker 5: I like that the note you've put under this question
19:51
Speaker 5: literally just says VD go on rant like, thank you.
19:54
Speaker 2: Georgia King in a good way.
19:56
Speaker 5: Obviously, I've written this book because you guys asked for it,
20:00
Speaker 5: and I am eternally grateful that after my first book,
20:02
Speaker 5: you actually wanted more content, because I was terrified that
20:05
Speaker 5: it would be a complete plunk. So it's very cool
20:08
Speaker 5: to know that you guys are interested in learning more
20:10
Speaker 5: about investing. I think it was very necessary as well,
20:13
Speaker 5: because obviously it's not the first investment book on the market.
20:16
Speaker 5: It's not even the first investment book written by woman
20:18
Speaker 5: on the market, but it is the first one that
20:20
Speaker 5: I think genuinely takes into consideration you as an individual
20:24
Speaker 5: and your thoughts and feelings and values and beliefs and
20:27
Speaker 5: behaviors in addition to actually what you need to do
20:30
Speaker 5: to get there, because I think too many times it's
20:33
Speaker 5: you know, stereotypical white male written books, or they feel
20:37
Speaker 5: like white male written books, even if it was written
20:39
Speaker 5: by a woman, that just doesn't have that level of empathy.
20:42
Speaker 5: So as much as you know, you guys might be going,
20:44
Speaker 5: I don't need empathy, Victoria, just need the information. It's
20:48
Speaker 5: so important that you also have buy in and you
20:51
Speaker 5: understand why you're doing what you're doing, and that's why
20:54
Speaker 5: I do what I do. So the Investing Book is
20:57
Speaker 5: really taking it to the next level. If you read
20:59
Speaker 5: the first book, you know that there is a chapter
21:01
Speaker 5: in there about investing, but that really just scratches the
21:03
Speaker 5: surface of why it's important and gives you some basics,
21:07
Speaker 5: whereas this really deep dives and I've tried to structure it.
21:10
Speaker 5: And I don't say this in the book because you know,
21:12
Speaker 5: it's just how I've tried to write it, But I
21:14
Speaker 5: really tried to structure it in the same way I
21:16
Speaker 5: would have created a statement of advice for a client.
21:19
Speaker 5: So I go through the same process with you in
21:22
Speaker 5: each chapter, so we do the same tick points. So
21:25
Speaker 5: obviously it's going to start with a fact finder and
21:27
Speaker 5: understanding where you're at. Then we'll talk about risk, then
21:30
Speaker 5: we'll talk about all of the things that come after that.
21:33
Speaker 5: And I think that by taking you down that guard
21:35
Speaker 5: and path in a way, you're going to create your
21:38
Speaker 5: own investment plan. You're going to work out not only
21:40
Speaker 5: what your goals, your values, what you can contribute are,
21:43
Speaker 5: but you're also going to take it to that next
21:45
Speaker 5: level and pick and then implement. And I have spent
21:48
Speaker 5: so long, Georgia, I know you have the book. I
21:51
Speaker 5: don't know if you've gotten to page I think it's
21:52
Speaker 5: one hundred and fifty six. One hundred and fifty six
21:54
Speaker 5: or one hundred and fifty nine, I cannot remember. But
21:58
Speaker 5: at that point in the book, there is actually this
22:01
Speaker 5: really fancy table that I've made. It's basically comparing all
22:05
Speaker 5: of the popular investment platforms that she's on the moning
22:07
Speaker 5: community usually has access to in a really simple way.
22:11
Speaker 5: It's a table. It has their names down the side.
22:14
Speaker 5: It has ticks to say it invests here, it doesn't
22:16
Speaker 5: invest here, It has the fees, It has the additional
22:19
Speaker 5: information you need so that you can basically go to
22:22
Speaker 5: that chart after you've read the rest of the book,
22:24
Speaker 5: like don't just skip. I mean, I shouldn't be telling
22:26
Speaker 5: you this, but don't just skip to the end. But
22:28
Speaker 5: it basically will enable you to go, all right, well,
22:30
Speaker 5: this is the platform that makes the most sense to
22:32
Speaker 5: me because I wanted ABC and D and here it
22:35
Speaker 5: is on a platter so that I can make the
22:37
Speaker 5: right decision, because working in Australia means that I can't
22:40
Speaker 5: just spoon feed you the information and say this is
22:42
Speaker 5: the best platform. There's no such thing in reality, because
22:45
Speaker 5: different things work for different people. But I've taken you
22:48
Speaker 5: down the garden path so that you can work out
22:50
Speaker 5: what works for you. And I think that it's something
22:53
Speaker 5: I'm really proud of. To be honest, it took a
22:56
Speaker 5: long time to get to that, but genuinely, hopefully by
22:59
Speaker 5: the end of it you have your investment plan.
23:02
Speaker 4: And you should be very proud of it. My girl
23:04
Speaker 4: can confirm it's bloody brilliant. Would you recommend it? For
23:09
Speaker 4: new investors or people that like know a little bit
23:12
Speaker 4: or like how far along the journey should people be
23:14
Speaker 4: who are turning to this book.
23:15
Speaker 5: It is definitely for beginners and intermediate investors. I mean,
23:18
Speaker 5: if you're a really accomplished investor, you're probably going to
23:21
Speaker 5: go v I know. But if you are a beginner
23:24
Speaker 5: or you're an intermediate investor, it doesn't matter. If you've
23:27
Speaker 5: never invested before, or you've been investing for a few
23:30
Speaker 5: years and you're just like, all right, well, I've been
23:31
Speaker 5: doing this, you know, this rodeo all by myself, and
23:35
Speaker 5: I just want a better plan. I think that's where
23:37
Speaker 5: it would come in handy. But to be honest, I've
23:40
Speaker 5: tried to make it everything to everybody in a way,
23:43
Speaker 5: but in the investment space.
23:44
Speaker 4: Yeah, yeah, brilliant. And would you say you need to
23:46
Speaker 4: read the first book first and then progress to investing
23:49
Speaker 4: this year's on the line good questions?
23:52
Speaker 5: Yes and no, yes, because obviously I am a staunch
23:55
Speaker 5: advocate of doing your budget, your cash flow, and getting
23:57
Speaker 5: your financial house in order before you in there, Like
24:00
Speaker 5: I want you to have those financial fundamentals, and that's
24:03
Speaker 5: what She's on the Money is about investing with She's
24:06
Speaker 5: on the Money, though, can be read in isolation. I
24:08
Speaker 5: have read it so that you don't feel like you're
24:10
Speaker 5: coming into part two of a story you didn't understand.
24:13
Speaker 5: But it definitely is more investment focused, and I definitely
24:17
Speaker 5: recommend reading the first and then the second.
24:19
Speaker 2: But if you don't want that, then don't do it.
24:21
Speaker 2: That's cool, It'll still serve the purpose.
24:23
Speaker 4: Yes, bloody brilliant. All right, but was there anything you
24:26
Speaker 4: wanted to add today?
24:28
Speaker 2: I think it is time to wrap the boring but
24:29
Speaker 2: important stuff. George King? Can you read it out?
24:32
Speaker 4: Of course?
24:33
Speaker 1: I can.
24:33
Speaker 4: Please remember, guys that the advice shed on She's on
24:36
Speaker 4: the Money is general in nature and does not consider
24:39
Speaker 4: your individual circumstances. She's on the Money exists purely for
24:43
Speaker 4: educational purposes and should not be relied upon to make
24:45
Speaker 4: an investment or a financial decision. And we promise Victoria
24:49
Speaker 4: Divine and She's on the Money are authorized representatives of
24:53
Speaker 4: Infocused Securities Australia Proprietly Limited, ABN for seven zero nine
24:57
Speaker 4: seven seven nine seven zero four nine afosal it three
25:00
Speaker 4: six five two three.
25:01
Speaker 2: See you on Friday, guys, you will.
25:03
Speaker 4: Bye, guys,