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Changing Your Financial Decisions · She's On The Money

0:00
Speaker 1: Hello.
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Speaker 2: My name's Santasha Nabananga Bamblet. I'm a proud yr the
0:05
Speaker 2: Order Kerni Whoalbury and a waddery woman. And before we
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Speaker 2: get started on She's on the Money podcast, I would
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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 on the Money, the podc
1:00
Speaker 4: calast for millennials who want financial freedom. My name is
1:03
Speaker 4: Beck Sayed and with me is Victoria Vivi.
1:05
Speaker 1: Ohoy ahoy vic di.
1:08
Speaker 4: We are talking today about changing your financial decisions.
1:11
Speaker 1: I'm excited about this one. Yeah.
1:12
Speaker 4: I'm pretty excited about it too, and I think that
1:15
Speaker 4: maybe some of us might need it. Definitely me, that's
1:18
Speaker 4: what I know for sure. But something happened recently and
1:21
Speaker 4: it made big news. You might have heard about it,
1:23
Speaker 4: you might have even wrote about it. In your weekly
1:25
Speaker 4: Age column.
1:25
Speaker 1: Oh yeah, all right, what was it? So?
1:27
Speaker 4: Dan Andrews, the premiere of Victoria, canceled the twenty twenty
1:31
Speaker 4: six Commonwealth Games, due to be held in regional Victoria.
1:34
Speaker 4: Why did he do this?
1:35
Speaker 1: Neah? Why are you going to do this to us?
1:37
Speaker 1: I don't know. If you asked the comment section on
1:39
Speaker 1: the Age, it's a bit different. Actually, no. I was
1:42
Speaker 1: really impressed with how many people are in support of me,
1:44
Speaker 1: because it's so often that I post content online and
1:50
Speaker 1: mediocy middle aged white men jump into the comment section.
1:52
Speaker 1: They're like, what would she know about anything? And I'm like,
1:55
Speaker 1: that's fair, that's fair. People are you know?
1:57
Speaker 2: What?
1:58
Speaker 1: Just keeps me humble? Keeps me humble, And I think
2:00
Speaker 1: that's really important. So medio committally aged white men keep
2:04
Speaker 1: doing you. You are me needed. We love you, Thank
2:08
Speaker 1: you for keeping me humble. But Danny Andrews, yes, he decided,
2:13
Speaker 1: do you interesting choice? Moving on? Oh yeah, okay, So
2:16
Speaker 1: the twenty twenty six Commonwealth Games were meant to be
2:19
Speaker 1: a twelve day sporting event and the original budget set
2:21
Speaker 1: for that was two point six billion dollars net. Okay,
2:26
Speaker 1: and it has recently been revised to be around six
2:30
Speaker 1: to seven billion dollars. So they clearly didn't use the
2:32
Speaker 1: Victoria divine budget and cash flow system, did they.
2:35
Speaker 4: Someone's not been listening.
2:36
Speaker 1: Someone's been listening to the show Danny Boy, Get on it.
2:40
Speaker 1: So that is basically a whopping four point four billion
2:42
Speaker 1: dollars over budget. I've been like four dollars over budget before.
2:46
Speaker 1: I've been forty dollars over budget, and you know what,
2:48
Speaker 1: in some instances, I've been four hundred dollars over budget.
2:51
Speaker 1: How anybody goes four point four billion over budget not
2:55
Speaker 1: very relatable.
2:56
Speaker 4: I've never ever been four point four billion dollars over anykay.
2:59
Speaker 1: That basically makes it an unsustainable burden on the state's economy, which,
3:04
Speaker 1: to be honest, with Victoria's debt forecast currently being at
3:07
Speaker 1: one point three five point four billion dollars in twenty
3:11
Speaker 1: twenty four and the expectation that it rises to one
3:14
Speaker 1: hundred and seventy one at point four billion dollars by
3:17
Speaker 1: twenty twenty six to twenty twenty seven, it kind of
3:20
Speaker 1: was a decision that needed to be made when it
3:23
Speaker 1: came to the games, Like, I totally understand going back
3:28
Speaker 1: and saying, you know what this is actually going to
3:31
Speaker 1: cost so much more that it's unfeasible now. And I
3:34
Speaker 1: feel like that is why I wanted to write about
3:36
Speaker 1: it in my article. That's why I really wanted to
3:39
Speaker 1: talk about it, because how many times have we committed
3:41
Speaker 1: to things beck and been like, oh, great, you know, let's,
3:44
Speaker 1: for example, say we're going to go to the snow
3:46
Speaker 1: with mates. You've never been to the snow before. One
3:50
Speaker 1: thing leads to another, you go, oh, just be like accommodation,
3:52
Speaker 1: get up there. You know, won't be too bad, right,
3:54
Speaker 1: And then you realize that accommodation the snow is really expensive.
3:57
Speaker 1: That's starting to blow the budget. You realize you have
4:00
Speaker 1: to hire snowboard or you have to hire skis, and
4:03
Speaker 1: that gets expensive. Wow, you forgot there was a lift
4:06
Speaker 1: pass involved, and like resort access and all this other stuff,
4:10
Speaker 1: and it becomes unfeasible and you might need to turn
4:12
Speaker 1: around and be like, oh, guys, I was so pumped
4:14
Speaker 1: for this, it's no longer feasible though, Like you guys,
4:18
Speaker 1: go have fun, but I can't be involved. Yes, And
4:21
Speaker 1: I think so many times there have been situations in
4:24
Speaker 1: my life where that has happened, like that exact circumstance
4:28
Speaker 1: where I budgeted one thing or it just expected one thing,
4:31
Speaker 1: and then another thing happened and I wanted to back
4:33
Speaker 1: out of it, but I felt really bad, so I
4:35
Speaker 1: thought today it might be a good day to talk
4:37
Speaker 1: about how it's actually okay to change your financial decisions. Yes.
4:40
Speaker 4: Absolutely, but I am curious as to why so many
4:45
Speaker 4: people were quite upset about this decision.
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Speaker 1: Look, a lot of people online were not very happy
4:51
Speaker 1: with Danny Boy and they were jumping up and down.
4:54
Speaker 1: A few journalists said We're never gonna let him get
4:57
Speaker 1: away with this, and then the Commonwealth Game's Chief execut
5:00
Speaker 1: his name's Craig Phillips, said that the government had quote
5:03
Speaker 1: jeopardized Melbourne and Victoria's standing as the sporting capital of
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Speaker 1: the world, as well as get this disappointing athletes, the
5:13
Speaker 1: excited host communities, first nation Australians who were at the
5:17
Speaker 1: heart of the Games, and the millions of fans who
5:20
Speaker 1: would have embraced a sixth home Games in Australia.
5:24
Speaker 4: I see that's heavy. That's a big call.
5:28
Speaker 1: That's a massive call to be like you're a disappointment, yeah,
5:32
Speaker 1: and like you know, it seems like it just kind
5:35
Speaker 1: of got out of hands, like what are you meant
5:36
Speaker 1: to do? I feel like there's a lot of Yeah,
5:39
Speaker 1: there's a lot to it, yes, but absolutely a lot
5:42
Speaker 1: to it. And I think Danny boy my friend should
5:45
Speaker 1: have been baby a little bit better at budgeting. And
5:48
Speaker 1: I totally understand the disappointment, right, like it's a loss
5:51
Speaker 1: to the athletes as a loss to the community, without doubt.
5:55
Speaker 1: But I guess our job on this show is to
5:57
Speaker 1: look at the money side of things and why that
5:59
Speaker 1: might have been a good decision, and I actually think
6:01
Speaker 1: it was a really responsible decision, and I really want to,
6:04
Speaker 1: I guess explore that underlying narrative of why embracing change
6:09
Speaker 1: should be seen as courageous and necessary, because in this moment,
6:14
Speaker 1: this isn't a political podcast. It's not really about whether
6:17
Speaker 1: you lack Dan Andrews or not. It's not really about
6:19
Speaker 1: whether you agree with his past decisions or not. It's
6:23
Speaker 1: more about that was a pretty courageous thing to do,
6:26
Speaker 1: because I don't know, Beck, if you're going to cancel
6:29
Speaker 1: the Commonwealth Games, you know that there's going to be
6:31
Speaker 1: a wrath to follow, right. People are going to be pissed.
6:34
Speaker 1: People aren't going to be happy he knew that was coming.
6:37
Speaker 1: But I think the cool thing about that decision in
6:40
Speaker 1: isolation is that he was putting our community at the
6:45
Speaker 1: heart of that decision and going, I don't want our
6:48
Speaker 1: state to be in even more debt. I don't want
6:51
Speaker 1: our community to be absolutely crippled by this. And the
6:55
Speaker 1: way that he articulated it was literally I'd prefer that
6:58
Speaker 1: money to go to teachers and nurses then go towards games,
7:02
Speaker 1: fair enough, And I couldn't agree more good on.
7:04
Speaker 4: Him, honestly, I mean, it would be scary, it would
7:07
Speaker 4: be hard, right, I'm wondering, do we have a tendency
7:10
Speaker 4: as people to like stick with a plan the more
7:12
Speaker 4: we have invested in it, even if it's wiser to
7:14
Speaker 4: abandon it.
7:15
Speaker 1: Yeah, it's called the sunken cost fallacy. So there's actually
7:19
Speaker 1: a thing. It's kind of like where you throw good
7:21
Speaker 1: money after bad like I've already come this far, Like
7:24
Speaker 1: we've all been there, we've all done it. The sunk
7:26
Speaker 1: cost fallacy is essentially a phenomenon, the worst word in
7:30
Speaker 1: the entire that is arguably the phenomenon for exists whereby
7:33
Speaker 1: a person is relatively reluctant to abandon a strategy or
7:37
Speaker 1: course of action because they've already heavily invested in it,
7:41
Speaker 1: even when it's clear that abandonment would be more beneficial
7:44
Speaker 1: to literally everybody involved. And it is super prevalent when
7:48
Speaker 1: it comes to financial decisions. I can relate to this
7:53
Speaker 1: throw money after bad. Before I was.
7:55
Speaker 4: Gonna do an exhibition, it was kind of one of
7:57
Speaker 4: those things you know when you tell everyone about it
7:59
Speaker 4: and you feel really satisfied because you told everyone and
8:02
Speaker 4: all this money went into it. And then it got
8:04
Speaker 4: very close to the date and I told every single
8:06
Speaker 4: person that I've ever met in my entire life and
8:08
Speaker 4: realized I actually couldn't afford to go along with the
8:10
Speaker 4: whole thing, so I canceled it. And it can be
8:12
Speaker 4: very very sad and kind of embarrassing. So I'm assuming.
8:17
Speaker 1: Embarrassing about that. Thank you, V. You made the right decision, right,
8:20
Speaker 1: Thank you. I believe I did exactly. What's embarrassing about that, Well,
8:24
Speaker 1: this is maybe how Dan feels at the moment. And
8:27
Speaker 1: it feels embarrassing. You're going back on what you had
8:31
Speaker 1: already spoken to me.
8:32
Speaker 4: Totally, and some people are like, how did that go?
8:37
Speaker 1: But also I think it's funny because it's also the
8:39
Speaker 1: level of conviction that you are starting with you, I'm
8:41
Speaker 1: going to do this exhibition. It's going to be so sick.
8:44
Speaker 1: You've got to come totally. You've got to go by
8:46
Speaker 1: the way. It's canceled, by the way.
8:49
Speaker 4: Whether way here is four hours of everyone's day back
8:52
Speaker 4: in their pockets.
8:53
Speaker 1: No. I think it's really important though, because if you
8:56
Speaker 1: think about the circumstances, let's role play for a hot second.
9:00
Speaker 1: If you told me that, do you think i'd meet
9:02
Speaker 1: you with like, oh, Bank, that's so embarrassing. I know
9:05
Speaker 1: that you wouldn't, but would anybody else?
9:08
Speaker 2: No? But why not?
9:09
Speaker 4: But just the person in my head would be like wow, wow, Wow.
9:12
Speaker 1: Heck, we've got to remember she's kind of a bitch.
9:17
Speaker 4: She is everywhere else is a safe space.
9:18
Speaker 1: That voice in her head. Ah, don't trust her. She's
9:21
Speaker 1: very mean to me. She's very mean to me, like
9:24
Speaker 1: my ones mean. I feel like everybody's voice in their
9:27
Speaker 1: head is not mean. Like if you wouldn't say that
9:29
Speaker 1: to your best friend, why are you saying it to you?
9:32
Speaker 4: True's a very good point the rules, But on that me,
9:36
Speaker 4: I want to know because I feel like sometimes we
9:38
Speaker 4: stick with ideas that aren't good for us in order
9:40
Speaker 4: to not be flaky? Is that a thing?
9:42
Speaker 1: Yeah, I think that flakiness is I don't know, I
9:45
Speaker 1: looked down upon, But I don't see this as being flaky.
9:49
Speaker 1: Being flaky is saying oh yeah, Beck, let's go out
9:51
Speaker 1: for a drink tonight, and then like five minutes before
9:54
Speaker 1: being like.
9:54
Speaker 4: Ah nah, yeah, like you can do it, but just
9:58
Speaker 4: can't be bothered at You're just.
9:59
Speaker 1: Being a little You're just wasting somebody's time, right, Like,
10:03
Speaker 1: And I think it's about consistency as well, right, I
10:06
Speaker 1: think a lot of the time, you know, if you
10:08
Speaker 1: think about a person who has a flaky personality, we're
10:11
Speaker 1: looking at an individual who consistently does that. Like, I
10:16
Speaker 1: don't think that I would be categorized as flaky even
10:19
Speaker 1: if I bailed on you for something, you know, next week, Beck,
10:22
Speaker 1: I don't think you'd be like, oh, V's so flaky
10:24
Speaker 1: total because that would have been the first time that
10:26
Speaker 1: that had happened. And that's okay. But I think it's
10:28
Speaker 1: about also how big that decision is. I think often
10:33
Speaker 1: we feel super trapped, but it's really about communication. So
10:37
Speaker 1: let's use that example of going out for a drink.
10:39
Speaker 1: If I said, oh, Beck, let's go out for a
10:41
Speaker 1: drink tonight, and you go, yeah, yeah, let's go. Let's go.
10:43
Speaker 1: And then I call you later and go, oh, can't come,
10:46
Speaker 1: Like maybe you'd think that was flaky. Let's got a bec.
10:49
Speaker 1: I actually checked my bank account. I kind of hard to.
10:51
Speaker 4: Go different, that's different, that's completely.
10:55
Speaker 1: Communication is absolutely key, and I think that often what
10:58
Speaker 1: is trapping us in these situations isn't just the money.
11:02
Speaker 1: Sometimes it's really the fear of judgment or the perception
11:05
Speaker 1: that we are changing our mind around a financial decision
11:08
Speaker 1: is embarrassing. And that's how I'm saying to you before,
11:10
Speaker 1: Like what's embarrassing about putting future you first?
11:12
Speaker 2: Yeah?
11:13
Speaker 4: Yeah, true.
11:14
Speaker 1: If you can't afford it, why are you doing it?
11:16
Speaker 4: Totally?
11:16
Speaker 1: And that's an okay thing to do, Like I don't
11:19
Speaker 1: think anybody is going to look at you and be like,
11:20
Speaker 1: oh my gosh, you didn't do that exhibition for financial reasons.
11:25
Speaker 1: Oh And the more you talk about it, the more
11:28
Speaker 1: ridiculous it seems. Right, the more you go, that's absolutely insane.
11:32
Speaker 1: Like I used to have a car loan right and
11:34
Speaker 1: it would lrd over me. It was the worst thing
11:37
Speaker 1: in the entire world. It was a car loan stacked
11:39
Speaker 1: with some personal debt. She was eight hundred and eighty
11:42
Speaker 1: three dollars. I believe each and every single month that
11:45
Speaker 1: made me feel sick. But what I can tell you
11:48
Speaker 1: is that toxic mindset was keeping me in that position. Yes,
11:52
Speaker 1: I didn't want to change. I didn't want to go, Oh,
11:54
Speaker 1: I'll get rid of my car. At the time that
11:56
Speaker 1: was too embarrassing. Yeah, like I didn't want to have
11:59
Speaker 1: to sell my car, so it stuck with the loan.
12:01
Speaker 1: If I look back on it, do you know what
12:03
Speaker 1: would have absolutely saved my butt back?
12:06
Speaker 4: Possibly selling the car.
12:07
Speaker 1: Getting rid of the car life, get rid of the car,
12:11
Speaker 1: either get a cheaper one, catch the train for a while.
12:14
Speaker 1: Do you know how much freer I would have felt
12:17
Speaker 1: like not having that loan over my head. Oh, it
12:21
Speaker 1: would have been so freeing. But I only see that
12:23
Speaker 1: in hindsight, don't know, because at the time that would
12:26
Speaker 1: have been mortifying to Who though which one of my
12:30
Speaker 1: friends would have cared if I got rid of that
12:32
Speaker 1: car or exactly not one of them. But I think
12:35
Speaker 1: it takes a lot of courage to confront something that
12:38
Speaker 1: is relatively necessary. Yes, have you ever been in that situation.
12:42
Speaker 4: Many many a time. Other than the actual like exhibition situation,
12:48
Speaker 4: There's been so many times where my friends want to
12:50
Speaker 4: go to stay an airbnb or go away for the weekend,
12:53
Speaker 4: and I always think I have enough money, or at
12:57
Speaker 4: least if I don't have enough money at that moment,
12:59
Speaker 4: then I will avengely somehow have enough money.
13:01
Speaker 1: To get it terialize right, Yes.
13:03
Speaker 4: And I'm always in the worst position. I literally went
13:06
Speaker 4: to Sydney with a friend a few months ago, committed
13:09
Speaker 4: to everything, had to borrow five hundred dollars from her
13:11
Speaker 4: because I just I just gonna happen. It wasn't gonna happen.
13:14
Speaker 4: It got to the time where women to take off
13:16
Speaker 4: by a car and I was like, I'm so sorry.
13:18
Speaker 4: I have zero dollars on me and we make it work.
13:21
Speaker 4: But it's always stressful and it shouldn't be just don't
13:25
Speaker 4: do it if you can't.
13:26
Speaker 1: I suppose I think that's absolutely relatable the amount of
13:29
Speaker 1: times historically that I have made or it's sake, bad
13:33
Speaker 1: financial decisions, because like, you work with what you've got,
13:37
Speaker 1: and if you have different tools and resources, the outcome
13:40
Speaker 1: will be different. And that's why I'm so excited to
13:42
Speaker 1: sit down with you and do your budget and cash flow,
13:44
Speaker 1: like I'm just raring to go and the opportunity. But
13:47
Speaker 1: I think it's really important to understand that it is
13:50
Speaker 1: eroding your financial stability. And while the smartest decision on
13:54
Speaker 1: paper might be do you know, let the cargo or
13:56
Speaker 1: not go on the trip to Sydney, or you know,
13:58
Speaker 1: you're worried sick about what other people might think, Like
14:01
Speaker 1: I'm sure in that moment you were super worried about like,
14:04
Speaker 1: can't let my friend down. It's actually better to borrow
14:07
Speaker 1: money than cancel the trip because she'll be disappointed as well,
14:10
Speaker 1: and then you're kind of overlaying their emotions onto you
14:14
Speaker 1: and their experience. And I totally get that, because I
14:17
Speaker 1: also think it's kind of important to care about other
14:19
Speaker 1: people at the same time. But if you're only just
14:22
Speaker 1: got the car, surely you can't just give it up
14:26
Speaker 1: after six months, right.
14:29
Speaker 4: Laby.
14:30
Speaker 1: I had mine for a little bit longer. But I've
14:32
Speaker 1: spoken to people in the community before where they are
14:35
Speaker 1: crushed by debt and they're like, oh, but I only
14:37
Speaker 1: just got this car, Surely I can't give it up
14:39
Speaker 1: right now. Like I've only had it for three or
14:41
Speaker 1: four months.
14:42
Speaker 4: Cancas you can, you can get.
14:44
Speaker 1: Rid of it. You got the car, get rid of
14:46
Speaker 1: the car, get rid of it, so it's easy to
14:48
Speaker 1: get rid of it, as is to get it exactly.
14:50
Speaker 1: Another hypothetical might be that you've been planning this is really
14:53
Speaker 1: big European like summer ak, like you're gonna have hot
14:56
Speaker 1: girl summer but in Europe. Yeah, and you've been working
14:59
Speaker 1: towards it for years, and you've been planning every single
15:01
Speaker 1: moment along the way. However, life kind of changed recently,
15:04
Speaker 1: like you might have been made redundant, or you and
15:07
Speaker 1: your partner broke up, or the cash flow you assumed
15:10
Speaker 1: was going to be there isn't there anymore. What do
15:13
Speaker 1: you do? Do you change your plans or do you
15:15
Speaker 1: stick to the original ones because you're super worried about
15:17
Speaker 1: what people might think.
15:18
Speaker 4: Well, you can absolutely cancel the trip if you need to,
15:21
Speaker 4: or just like by cancel, I'm literally saying, like postpone
15:25
Speaker 4: for a day. That's completely fine, but you know it
15:28
Speaker 4: would kind of be like irresponsible not to if you
15:30
Speaker 4: can't financially do it anymore. There's nothing stopping you from going,
15:34
Speaker 4: maybe in years.
15:35
Speaker 1: To many people do that, right, Like they've got hot
15:38
Speaker 1: girl summer planned, they're going to Europe. We've all wanted
15:42
Speaker 1: to do something like that at some point, right, but
15:47
Speaker 1: money's too tight and you decide, all right, well, you
15:50
Speaker 1: know what I deserve this, You know what I'm gonna do.
15:52
Speaker 1: I'm just gonna get a person alone so I can
15:54
Speaker 1: still go. Yeah, you come home, You've got this massive
15:57
Speaker 1: debt to pay off that Literally, once you've paid it off,
16:01
Speaker 1: you don't get anything. You already had the experience. It's
16:03
Speaker 1: not adding anything to your life exactly. So much better
16:06
Speaker 1: to just put the trip off and go in a
16:09
Speaker 1: financially stable position where you come home and all you've
16:12
Speaker 1: got is memories, Like you don't have debt, You've just
16:15
Speaker 1: got memories and you're vibing and you're having a great time.
16:18
Speaker 1: Because do you know what takes the shine off your
16:19
Speaker 1: hot Girl Europe summer coming home to absolutely crushing debt? Yes, yes,
16:27
Speaker 1: cannot recommend, have done it, don't do it now. This
16:30
Speaker 1: is a podcast for people to learn what I think
16:32
Speaker 1: they should do. Not do what I do, worrying from
16:35
Speaker 1: my mistakes. Friends, totally do what I say or something, Yeah,
16:39
Speaker 1: do what I say? No what I do because I
16:41
Speaker 1: can't get my words right. I think it's a great
16:42
Speaker 1: time for us to go.
16:43
Speaker 4: To a quick break.
16:44
Speaker 1: I love a break.
16:45
Speaker 4: I love that.
16:46
Speaker 1: Let's go to a break. We deserve it.
16:47
Speaker 4: We deserve it, We deserve it. Okay, we are back.
16:54
Speaker 4: So we are talking about changing your financial decisions. And
16:59
Speaker 4: I feel like generally we tend to shy away from change,
17:02
Speaker 4: clinging to the comfort of predictability. But this means that
17:05
Speaker 4: we might find ourselves trapped in bad financial situations that
17:09
Speaker 4: limit our growth and happiness. I feel like that's absolutely true.
17:12
Speaker 4: Good summary of where we're at.
17:13
Speaker 1: Thank you, yeah, genius. Maybe we can use this canceling
17:17
Speaker 1: of the games from our friend Danny Boy as an inspiration. Like,
17:21
Speaker 1: I think it is relatively inspiring to, you know, be
17:25
Speaker 1: able to make a decision and then go back on
17:28
Speaker 1: it. It doesn't matter whether you're twenty or forty or sixty.
17:31
Speaker 1: No financial decision is too soon, yeah to make, Like
17:35
Speaker 1: whether you have just made it and you've decided it's
17:39
Speaker 1: not good, or you've been doing the same thing for
17:41
Speaker 1: the last thirty years, Like, no decision is too soon
17:45
Speaker 1: to reassess. I don't think no, And I think that
17:47
Speaker 1: it's actually really intelligent and shows how you know, financially
17:51
Speaker 1: savvy you are to be, like, you know what, this
17:53
Speaker 1: might not be serving me, I don't care how soon
17:55
Speaker 1: it was. I think we should embrace the empowerment that
17:59
Speaker 1: comes with take charge of our destiny, and I guess
18:02
Speaker 1: releasing ourselves from this idea of crushing debt or unsustainable
18:07
Speaker 1: commitments as we assume we need to keep them because oh, well,
18:10
Speaker 1: the decisions already been made, Beck, like I already got it, like,
18:14
Speaker 1: can't go back now, Like it would be rude to write.
18:18
Speaker 4: I think it's probably as good a time as any
18:20
Speaker 4: because something big has happened. Daddy Andrews, I shouldn't say that, right, No.
18:24
Speaker 1: You can say that. Can I say that? Absolutely? You
18:26
Speaker 1: can call him daddy Andrews. Imagine if one of his
18:29
Speaker 1: kids sends him this podcast and it's just like, who
18:32
Speaker 1: are these women who think that they know stuff? Yeah,
18:35
Speaker 1: and maybe that's really bad, says to meet you, daddy boy.
18:37
Speaker 1: I'm Victoria, this is Beck, and we are really smart.
18:40
Speaker 4: We are very smart, and you are very much our father.
18:44
Speaker 1: So that's not what you meant by daddy.
18:48
Speaker 4: I'm very sorry to everyone listening, but I did just
18:51
Speaker 4: want to say, you know, when someone does something really
18:52
Speaker 4: bad and you kind of want to do something like that.
18:54
Speaker 4: Not bad, it's not bad, but the public seed is bad.
18:57
Speaker 4: So him can scel the coming with games. This is
19:00
Speaker 4: every time for you to be.
19:00
Speaker 2: Like, oh, but.
19:04
Speaker 1: I just got rid of my car.
19:05
Speaker 4: Yeah, this is knowing you as bad as that. So
19:08
Speaker 4: I'm just going to go ahead and cancel this thing,
19:10
Speaker 4: cancel this trip, cancel this car Loan whatever.
19:12
Speaker 1: It's like a little bit of permission exactly, this is
19:14
Speaker 1: the perfect time to do.
19:15
Speaker 4: So, not that any time is not a good time,
19:17
Speaker 4: but anytimes it's a vantage.
19:19
Speaker 1: I think at any time is a good time to
19:21
Speaker 1: reassess the position you're in, if it's not making you happy,
19:24
Speaker 1: or if it's not serving you, or if it's not
19:26
Speaker 1: actually working out in the way that you thought it might. Yes,
19:29
Speaker 1: Like I know so many times I've done things and thought,
19:32
Speaker 1: you know what, this is going to change my life.
19:34
Speaker 1: I'm so excited. Like Beck, if you were working towards
19:38
Speaker 1: getting a brand new car, you're gonna be like, this
19:40
Speaker 1: is going to be spanking brand new. I'm so excited, right,
19:43
Speaker 1: and then what you get it and you're like I
19:45
Speaker 1: don't even keep it clean, like it's always running out
19:50
Speaker 1: of fuel. All I do is get parking tickets with
19:53
Speaker 1: this piece of junk.
19:54
Speaker 4: Sounds completely accurate so far. Yeah, I know this is
19:57
Speaker 4: a hypothetical, but I'm like, this is my life. Yes exactly.
20:01
Speaker 1: I was actually just explaining my life. So maybe maybe
20:04
Speaker 1: we're just I think, but so many times we just
20:08
Speaker 1: assume that when we buy something, these materialistic things are
20:13
Speaker 1: going to make our lives better and they're not. No,
20:16
Speaker 1: material things don't actually make you happy. They might represent
20:21
Speaker 1: something to you, like getting a car loan might represent
20:25
Speaker 1: freedom and actually saving up a deposit and you know,
20:28
Speaker 1: being in a stable enough position to be granted that
20:31
Speaker 1: loan like that is really exciting.
20:32
Speaker 3: Yeah.
20:33
Speaker 1: Yeah, then you get it and it's not as shiny
20:35
Speaker 1: or exciting as you thought it was going to be,
20:38
Speaker 1: and your mind goes on to the next thing and
20:40
Speaker 1: you go, well, they've got that new car. Really should
20:43
Speaker 1: say for X, Y or Z, or I really should
20:45
Speaker 1: do this that or the other, And you're not actually
20:48
Speaker 1: in a better or happier position at all.
20:50
Speaker 4: Yeah. Absolutely, But we do see this in our community
20:52
Speaker 4: a lot of the time, don't we.
20:53
Speaker 1: It makes me insanely proud, Like I adore that people
20:56
Speaker 1: are changing their lives and taking charge instead of being
20:59
Speaker 1: held back by the assumption that they've already done their
21:01
Speaker 1: own graves. And you know, they have to live with
21:03
Speaker 1: the consequences of their own actions. Like I mean, if
21:06
Speaker 1: you murdered someone, yeah, you probably have to live with
21:08
Speaker 1: the consequences of your own actions. But like, if you've
21:10
Speaker 1: got a car loan, you can just get rid of that.
21:13
Speaker 1: That's not criminal, you know, Yeah, Like, if it's not criminal,
21:16
Speaker 1: we can fix it.
21:17
Speaker 4: That's a good life model, very good life motto.
21:20
Speaker 1: If it's not criminal, we can probably get ourselves out
21:22
Speaker 1: of it, yes, right, And I know you can change
21:25
Speaker 1: your life for the better. And while it might be
21:27
Speaker 1: a little bit uncomfortable to make that decision. You don't
21:29
Speaker 1: want to get rid of the car, And I guess
21:30
Speaker 1: the car is just an analogy, right, Like it might
21:32
Speaker 1: be the exhibition, it might be the trip to Sydney,
21:35
Speaker 1: it might be a trip to Bali with your girlfriends,
21:37
Speaker 1: it might be literally anything. Right, I think that it
21:41
Speaker 1: is uncomfortable to make that decision, and you might, honestly,
21:45
Speaker 1: you might annoy a few people.
21:47
Speaker 4: That's all right, because they're only going to be annoyed
21:49
Speaker 4: for a little bit of time, but that loan would
21:52
Speaker 4: have lasted.
21:53
Speaker 1: If they are true friends. Yes, they might be like, oh,
21:56
Speaker 1: I really wanted to do that thing. I really wanted
21:58
Speaker 1: to go on X y Z with Beck. But that
22:00
Speaker 1: makes sense. She's putting herself in the best possible position,
22:03
Speaker 1: and because I'm her friend, that's what I want for
22:05
Speaker 1: her too. Yes, And if they don't trash friends need
22:09
Speaker 1: new ones exactly, this is a really good way.
22:11
Speaker 4: To weed out those who maybe don't care.
22:15
Speaker 1: And I think future you is absolutely thanking you for
22:18
Speaker 1: how comfortable they're going to be once that decision starts
22:21
Speaker 1: to pay its little dividends, right, and Danny Boy his
22:24
Speaker 1: choice to rude to call him Danny boy Danny boy,
22:28
Speaker 1: I think is okay. I mean you called him daddy,
22:30
Speaker 1: So I think it's probably a little bit.
22:32
Speaker 4: It's much much worse, I think, So I think Danny's fine.
22:35
Speaker 1: Dan Andrews's decision I think was actually really really good
22:40
Speaker 1: because it prioritized healthcare and the well being of Victorians
22:43
Speaker 1: over the Commonwealth games, and I think it should be commended,
22:46
Speaker 1: not condemned, in exactly the same way that I think
22:48
Speaker 1: your personal financial decisions should be if you're putting future
22:52
Speaker 1: you first, Like, that's real sexy. I do never think
22:56
Speaker 1: that I use the word sexy and Dan Andrews in
22:58
Speaker 1: the same sentence. Yet here we are.
23:01
Speaker 2: There.
23:01
Speaker 4: I could have seen it coming, but I've got a
23:04
Speaker 4: very different taste.
23:05
Speaker 1: Yeah, look, honestly, not your vibe. I mean I thought
23:09
Speaker 1: maybe he could have been. When you were like, hey daddy,
23:11
Speaker 1: I was like, wow, where is this going.
23:13
Speaker 4: I'm mainly gay, but I have a very special place
23:15
Speaker 4: for Dan Andrews.
23:16
Speaker 1: That's oh, that's so hard.
23:18
Speaker 4: I'm sure he does not want to know that he did.
23:21
Speaker 1: He did, he did. He's so lucky. I think it's
23:25
Speaker 1: so important to understand that embracing change, which is really uncomfortable, right,
23:30
Speaker 1: Change makes us feel icky because humans at the center
23:34
Speaker 1: of it, we don't like change. Change is uncomfortable, and
23:38
Speaker 1: change makes us feel like, oh, this is pushing me
23:41
Speaker 1: out of my comfort zone, and that's normal. But change
23:44
Speaker 1: and embracing it is this powerful act of personal growth
23:48
Speaker 1: and empowerment, and that is very sexy. So I think
23:53
Speaker 1: challenging this toxic culture that shames us for making really
23:56
Speaker 1: necessary adjustments to create a brighter and more sustainable future.
24:01
Speaker 1: Everyone should be jumping up and down and being like, heck, yeah,
24:04
Speaker 1: this is so good. But because we don't like change
24:07
Speaker 1: and other people don't like change, like, it doesn't feel
24:09
Speaker 1: as good as it should. And I think that you
24:12
Speaker 1: need to remember at the core of it that your
24:15
Speaker 1: financial wellbeing is in your hands, and your hands solely.
24:20
Speaker 1: Nobody is going to come and save you. And I
24:21
Speaker 1: think that that is this idea that if you're in
24:25
Speaker 1: a lot of debt, or if you have things that
24:27
Speaker 1: aren't working out for you, sometimes we just throw our
24:29
Speaker 1: hands in the air and be like someone else is
24:31
Speaker 1: going to fix it. Right, No one else is coming
24:33
Speaker 1: to fix it, Beck, You've got to fix it yourself.
24:36
Speaker 1: And I mean, I'll hold your hand the whole way
24:38
Speaker 1: that like I can hold your hand the whole way,
24:40
Speaker 1: and you might not make one single change, in which
24:43
Speaker 1: case I'm just wasting my time. But I think you
24:46
Speaker 1: need to understand that you're the one that needs to
24:49
Speaker 1: make the change. It's like when people write into the show, right,
24:52
Speaker 1: it's my favorite thing in the entire world. Please don't stop.
24:54
Speaker 1: It's my favorite. But people will say, oh, thanks Beck
24:58
Speaker 1: and Victoria, You've changed my life. I'm out of debt,
25:00
Speaker 1: I'm this, I'm that I didn't do that. You did that.
25:04
Speaker 1: Do you know how many people listen to our content
25:06
Speaker 1: and don't make change? Do you know how many people
25:08
Speaker 1: listen to our content and go, that's too hard or
25:11
Speaker 1: that's too uncomfortable, and they never pick our podcast up again.
25:14
Speaker 1: But you pick up the podcast, or you pick up
25:16
Speaker 1: our content, or you pick up the tools and resources
25:18
Speaker 1: that we've directed you to and you used them, Like
25:22
Speaker 1: that's on. You don't thank me, Like I'm just putting
25:24
Speaker 1: the information out there. And I think it's so important
25:27
Speaker 1: to give yourself that credit because your financial well being
25:30
Speaker 1: it's not in my hands. I might have introduced you
25:33
Speaker 1: to it, but like lots of people could have introduced
25:36
Speaker 1: you to it, and you might not have been ready
25:37
Speaker 1: to hear it. But I was just in the right
25:40
Speaker 1: place at the right time with you. But it was
25:42
Speaker 1: totally up to you, and you need to give yourself
25:44
Speaker 1: credit for that. And it's totally okay to change your
25:46
Speaker 1: mind to put yourself in a better position. And I
25:49
Speaker 1: think that is so sexy, but it's also it's not me,
25:52
Speaker 1: it's you did it. So like, if you're going to
25:54
Speaker 1: make change, you need to give yourself the credit for that.
25:57
Speaker 4: That is powerful and so truly. I think it's a
26:00
Speaker 4: great place too.
26:01
Speaker 1: I think it's a fantastic good place to leave it.
26:03
Speaker 1: Because I've run out of inspirational things to say to that.
26:06
Speaker 4: That's a real shame because I will need some after this.
26:08
Speaker 4: But that's okay, we'll work on it. I'll come up
26:10
Speaker 4: with your own said list.
26:11
Speaker 1: Thank you so much, no worries, have a good day, guys,
26:14
Speaker 1: will see you next week.
26:16
Speaker 3: By the advice shared on She's on the Money is
26:24
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26:28
Speaker 3: She's on the Money exists purely for educational purposes and
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Speaker 3: should not be relied upon to make an investment or
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Speaker 3: financial decision.
26:36
Speaker 1: If you do choose to buy a financial product.
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Speaker 3: Read the PDS TMD and obtain appropriate financial.
26:41
Speaker 1: Advice tailored towards your needs.
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Speaker 3: Victoria Divine and She's on the Money are authorized representatives
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Speaker 3: of money.
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Speaker 1: Sheper pty LTD.
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27:01
Speaker 4: They completely work. They were