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FRIDAY DRINKS: is it okay to ask questions about my share portfolio right now? · She's On The Money

0:00
Speaker 1: She's on the Money. She's on the Money.
0:23
Speaker 2: Hello, and welcome to She's on the Money, the podcast
0:26
Speaker 2: for millennials who want financial freedom. Today, guys is Friday,
0:30
Speaker 2: which means it is time to sit back with the
0:32
Speaker 2: girls with a bev in hand, to unpack our favorite
0:35
Speaker 2: moments of the week and to of course celebrate you
0:39
Speaker 2: our incredible She's on the Money community. As always, we're
0:42
Speaker 2: going to be sharing our favorite money wins. We're going
0:44
Speaker 2: to discuss what's making news in the finance world. But
0:47
Speaker 2: first it is time, as always, to recap the week
0:50
Speaker 2: that was Miss Jessica DC. I called you Miss Jessica
0:54
Speaker 2: Ricky on Instagram the other day and I got rimmed,
0:57
Speaker 2: but they were like, what are you doing her? Jessica Ricky?
1:01
Speaker 3: Potato Potato the richie is just a little extra finesse.
1:05
Speaker 4: You know.
1:05
Speaker 2: She has a little bit of spice and I like
1:08
Speaker 2: to add it. But I was just calling it as
1:10
Speaker 2: it was on an Instagram story. I will never do
1:12
Speaker 2: that again, just so you know, Jessicatorychi, but without further ado,
1:17
Speaker 2: could you please tell us what happened on Monday's Money Diary.
1:20
Speaker 2: It was a goodie, it sure was.
1:22
Speaker 3: We spoke to gorgeous gal who is just killing the
1:25
Speaker 3: property game. I was very ex as someone who's just
1:29
Speaker 3: starting that process. She was younger than I am and
1:32
Speaker 3: absolutely killing it. She started her story off she went
1:34
Speaker 3: through a breakup and then got a house or by herself.
1:38
Speaker 4: We love to see it.
1:39
Speaker 3: She then went on to get a property with her partner,
1:42
Speaker 3: which they now own together. It's an investment and they're
1:45
Speaker 3: looking at buying another one at the end.
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Speaker 2: Of the Surgeon twenty five and owning three properties, I
1:51
Speaker 2: mean owning three mortgages, so she doesn't own them outright,
1:54
Speaker 2: but this woman incredible it all.
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Speaker 3: By herself, no parental help, know nothing, and it was
2:00
Speaker 3: just really really impressive to hear.
2:03
Speaker 2: And it was beyond inspiring to hear as well, because
2:06
Speaker 2: this is going to sound, you know, as stereotypical as
2:08
Speaker 2: it comes and like it's not in she's on the
2:10
Speaker 2: money form to say something like this, but it absolutely
2:13
Speaker 2: I think needs to be addressed. Like Jess, you will
2:15
Speaker 2: agree here, this girl got on zoom. She was stunning,
2:19
Speaker 2: like she was one of the most beautiful humans I
2:22
Speaker 2: have ever laid eyes on, like blue eyes, blonde hair,
2:25
Speaker 2: like stereotypically gorgeous, so much so that I would assume
2:29
Speaker 2: that in her industries it is very hard to be
2:31
Speaker 2: taken seriously because of how beautiful she is, and that's
2:35
Speaker 2: a very common thing in the corporate world. But when
2:38
Speaker 2: she was like, oh yeah, and I've just been promoted
2:40
Speaker 2: to lawyer, I was like, yes you boss, Like I
2:43
Speaker 2: was so proud of her because she was like, not
2:46
Speaker 2: only gorgeous, but clearly wildly intelligent. I was just like
2:49
Speaker 2: this woman. And then I was real perby and I
2:52
Speaker 2: was like, did you do it without a Garran talk?
2:53
Speaker 2: Because we all want to know She's like, yep, I
2:55
Speaker 2: say for my first home was a stepping stone. I did, Like, guys,
2:58
Speaker 2: if you haven't listened to this eisode, go and listen
3:01
Speaker 2: to it, because she is breaking down the myth that
3:03
Speaker 2: millennials aren't going to have properties because she's got three
3:06
Speaker 2: of her own already.
3:07
Speaker 5: Did she have lots of tips and tricks in there. Yeah,
3:10
Speaker 5: she had a few moose of us who aren't they yet?
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Speaker 3: Yeah, she shared with us a lot of really good
3:14
Speaker 3: insight in her initial message. Trust she actually said and
3:17
Speaker 3: made sure to highlight that part of getting into her
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Speaker 3: first home was taking advantage of all of the government
3:22
Speaker 3: schemes and stuff that are available first home buyers. And
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Speaker 3: I did ask her a little bit about how she
3:26
Speaker 3: did that.
3:27
Speaker 4: Did sheoose broker?
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Speaker 3: And she did it all by herself, So she gave
3:30
Speaker 3: her tips on where to look for that information, how
3:32
Speaker 3: to figure it out, which I think is going to
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Speaker 3: be really helpful to anyone who's in the same position.
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Speaker 2: It was really inspiring because she'd made the most of
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Speaker 2: her situation and been like, all right, well, no one's
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Speaker 2: going to give me a leg up. I'm going to
3:43
Speaker 2: find a way to give myself a leg up. And
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Speaker 2: she actually, from what I understand, Jess really built out
3:49
Speaker 2: how she was going to buy a property with how
3:51
Speaker 2: many resources she could lean on. And I found that
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Speaker 2: super impressive because Georgia she ended up purchasing in twenty
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Speaker 2: twenty and got forty five thousand dollars ish in grants.
4:01
Speaker 2: Like what really?
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Speaker 3: Yeah, so she like timed it with all of that stuff.
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Speaker 3: Obviously she'd done some work on her own save her deposit,
4:08
Speaker 3: but yeah, really smart to take advantage of those things.
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Speaker 3: So definitely, well work the lesson if you are interesting property.
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Speaker 2: And absolutely love Cooky, We'll get her on the property
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Speaker 2: playbook when that fire's back up because I reckon, she
4:19
Speaker 2: can teach us a lot, and George, she was a
4:22
Speaker 2: queen at op shopping as well, Like I reckon, you
4:24
Speaker 2: too would have gone along like a house on fire.
4:27
Speaker 5: All right, look forward to it.
4:28
Speaker 2: George moving away from property and what happened on money?
4:31
Speaker 2: Does talk us through what happened on our Wednesday deep
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Speaker 2: Dive episode, I.
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Speaker 5: Can certainly do that. So on Wednesday we discussed the
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Speaker 5: ins and out of managing money in a blended family,
4:43
Speaker 5: so specifically we kind of honed in on how you
4:46
Speaker 5: would manage money if your partner has a child and
4:49
Speaker 5: you don't, or vice versa perhaps, which was really interesting
4:53
Speaker 5: because it's not something we've ever spoken about on the
4:55
Speaker 5: pod before. It's not something I've ever thought about because
4:58
Speaker 5: it doesn't apply to me personally, and I'm a selfish person.
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Speaker 2: No you're not. You're just not dating someone with a child.
5:04
Speaker 5: Exactly, but so many of us are. But we all
5:08
Speaker 5: know people in these kinds of situations, and it is
5:11
Speaker 5: at a surface level it might not seem that complex,
5:14
Speaker 5: but when you kind of drill down into it, it
5:17
Speaker 5: really was interesting hearing how people do manage this and
5:21
Speaker 5: what the expectations are and how important having that open
5:24
Speaker 5: line of communication is between you and your partner ex'es
5:28
Speaker 5: are involved. Yeah, it was a really interesting chat, and
5:32
Speaker 5: you also discussed with us be how to actually have
5:35
Speaker 5: that conversation with your partner to set those boundaries and parameters.
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Speaker 5: So yeah, it was really interesting, Chash. I enjoyed it.
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Speaker 2: I mean, at the end of the day, I think
5:43
Speaker 2: the summary there whereas it's better to be honest and
5:46
Speaker 2: open and have the conversation. Yeah, there's no right or
5:48
Speaker 2: wrong way to have that conversation because everybody's relationship is
5:52
Speaker 2: so wildly different, But in twenty twenty two, it's a
5:54
Speaker 2: really big conversation to be having because I believe that
5:57
Speaker 2: there are a lot of people in our community that
5:59
Speaker 2: are single parents or at some point in the back
6:02
Speaker 2: of their mind they're like probably going to be a
6:04
Speaker 2: single parent. Like this isn't going the way I wanted
6:06
Speaker 2: it to, And I just feel like the idea of
6:09
Speaker 2: getting into a relationship when you are a parent can
6:12
Speaker 2: be quite overwhelming. I'm not saying that from experience. I'm
6:15
Speaker 2: saying that having spoken to a lot of clients who
6:18
Speaker 2: are single parents who just go I don't even know
6:20
Speaker 2: how to approach that, like what do you do? How
6:22
Speaker 2: does it work? But open honest communication for the entirety
6:25
Speaker 2: of the relationship I think is the best policy.
6:28
Speaker 3: I also feel like it's a good conversation to have
6:30
Speaker 3: because the traditional quote unquote familial structure that existed, you know,
6:36
Speaker 3: a couple of decades go, actually isn't really the norm anymore.
6:39
Speaker 3: Like so many families approach things differently now that your
6:43
Speaker 3: stock standard mom and dad have you know, one income
6:46
Speaker 3: because dad goes to work and mom stays at home
6:48
Speaker 3: with the kids.
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Speaker 4: Like it's actually just not a thing.
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Speaker 3: We have all of these different shapes and forms of relationships,
6:53
Speaker 3: and that means that the way we have these conversations
6:56
Speaker 3: and the way that we manage our finances is going
6:58
Speaker 3: to look so different now nowadays.
7:00
Speaker 2: As well, George, Jess, I feel like the three of
7:03
Speaker 2: us are actually in a very similar position when it
7:05
Speaker 2: comes to families. And you might agree with me here,
7:09
Speaker 2: it's not, from my perspective, the norm. So Jess and George,
7:13
Speaker 2: I believe your parents are still together, and from my perspective,
7:17
Speaker 2: growing up, all my friends had divorced parents, like I
7:20
Speaker 2: think I had one other friend that's parents were still married,
7:23
Speaker 2: and to me, it was very normal to have friends
7:25
Speaker 2: with divorced parents and seeing their parents, you know, get
7:28
Speaker 2: new partners and go through all of that that Sometimes
7:30
Speaker 2: I was like, and I would never, you know, want
7:32
Speaker 2: that for my parents, but I was like, oh, it's
7:35
Speaker 2: not that normal to stay married. What like, Did you
7:37
Speaker 2: have similar experiences?
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Speaker 3: I think I definitely had quite a few friends that
7:42
Speaker 3: went through this experience, you know, throughout the years. I
7:45
Speaker 3: don't know that I ever questioned my own, like I guess, situation,
7:49
Speaker 3: but I definitely think that it was really obvious to
7:53
Speaker 3: me from a really young age that there were all
7:55
Speaker 3: these different ways to do things. And I think, if anything,
7:58
Speaker 3: it really just made me aware that if something's not working,
8:01
Speaker 3: there's nothing wrong with changing that situation.
8:03
Speaker 4: You know, back in the day it was maybe not.
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Speaker 3: The best, you know, or there might have been shame
8:08
Speaker 3: or things like that tied to it, but I see, yeah,
8:11
Speaker 3: whereas now I kind of just go okay, great, like
8:13
Speaker 3: that relationship works purpose and that's fine and it was
8:16
Speaker 3: a great season of your life hopefully, but there's nothing
8:19
Speaker 3: wrong with going okay, like, actually that doesn't work, and
8:22
Speaker 3: if anything, it's better for everyone involved to go your
8:25
Speaker 3: separate ways, make sure it's amicable, and then open yourself
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Speaker 3: up to new relationships, new financial conversations, just a whole
8:32
Speaker 3: new way of doing things.
8:34
Speaker 2: Totally, and I really like what you just said. There
8:37
Speaker 2: was a season of a relationship, and not all relationships
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Speaker 2: are going to last. But it doesn't I guess downplay
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Speaker 2: how impactsful they were like that relationship, you know, unless
8:47
Speaker 2: it was a terrible relationship, in which case I wish
8:50
Speaker 2: you were never in it, my friends, but sometimes relationships
8:53
Speaker 2: help us form who we are, and that might not
8:55
Speaker 2: be the same person that entered that relationship. And that's
8:57
Speaker 2: totally okay. But we are not a relation podcast. So
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Speaker 2: let's talk more about money. Georgia King, let's loop back
9:04
Speaker 2: to you what if you got when it comes to
9:06
Speaker 2: money wins from the Shees on the Money community this.
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Speaker 5: Week, let's loop back. I loved that from you. Some
9:11
Speaker 5: caucers as per ladies.
9:13
Speaker 2: Let's see what a surprise guys, The She's on the
9:16
Speaker 2: Money community does it again, they've delivered.
9:19
Speaker 5: The first win is from Victoria.
9:21
Speaker 2: Oh, I thought you said you weren't going to call
9:23
Speaker 2: me out like this again.
9:26
Speaker 5: I don't think you did. Post this one girl. No,
9:28
Speaker 5: I'm just really kids I'm not aware of. So Victoria
9:32
Speaker 5: was in desperate need of some new pants because after
9:35
Speaker 5: two kids in two years, her old ones just didn't
9:37
Speaker 5: fit the same. She then got four pairs of pants
9:40
Speaker 5: and a pair of sandals she's had her eye on
9:43
Speaker 5: for a while. And here comes the money win. I
9:46
Speaker 5: felt no guilt for having quay money, which hasn't happened
9:49
Speaker 5: in years.
9:50
Speaker 4: A little bit.
9:51
Speaker 2: That I want to know more about Victoria's mindset, Like
9:54
Speaker 2: how did you come into that mindset, because that's such
9:56
Speaker 2: a hard mindset to battle that you do deserve new clothes,
10:00
Speaker 2: especially after having two kids. You bat us like that
10:03
Speaker 2: is so cool to know that she's like not guilty
10:06
Speaker 2: about something that so many people are gonna still feel
10:08
Speaker 2: guilt about.
10:09
Speaker 4: Which they absolutely shouldn't.
10:11
Speaker 2: No, absolutely you shouldn't.
10:12
Speaker 5: Have We done a potty on spending and guilt yet,
10:15
Speaker 5: I don't know if we have.
10:16
Speaker 2: I believe we've covered the topic. We haven't done a
10:19
Speaker 2: full podcast on it, but geez, I think you're onto
10:21
Speaker 2: something that's a good pod topic. Jess added to the
10:24
Speaker 2: least done.
10:25
Speaker 4: And done all right.
10:27
Speaker 5: The next one here is from Anna. She bought a
10:30
Speaker 5: laptop from work for thirty dollars or sold it for
10:34
Speaker 5: four hundred dollars.
10:35
Speaker 2: Nowell, you buy a thirty dollars laptop.
10:38
Speaker 4: I don't know.
10:40
Speaker 2: There is so much missing context here, but let's not
10:42
Speaker 2: look into it. We're not. That's a very good money win.
10:47
Speaker 5: The next one is from merin money. When I picked
10:50
Speaker 5: up four pieces of cane furniture off the side of
10:53
Speaker 5: the road a year ago for free, and I sold
10:54
Speaker 5: it all this week for one hundred and sixty dollars.
10:58
Speaker 4: Yeah you did.
10:58
Speaker 2: That's so cool. Would my mom would have had a
11:01
Speaker 2: field day with that. She loves some caine lounge lates.
11:05
Speaker 5: I remember that. I thought of your mum as well.
11:07
Speaker 5: Did you actually used to have some canes?
11:09
Speaker 1: Yeah?
11:10
Speaker 4: She was like, mum sorted me out.
11:11
Speaker 2: Alex loves some caine in her bedroom and my mummy
11:14
Speaker 2: is I guess the queen of finding cain on the
11:16
Speaker 2: side of the road and re sprang it white and
11:18
Speaker 2: using it like our house is basically Kane.
11:21
Speaker 5: Yes, stunning. I was always jealous of Devo's BedHead.
11:24
Speaker 2: Oh she did have you know? For those of you
11:26
Speaker 2: who know, it's the big peacock rattan bedheads gorge was
11:31
Speaker 2: very fancy, very she very jealous.
11:34
Speaker 5: The next win here is from Jess Gosh, the whole
11:37
Speaker 5: team's getting involved. My car service was quoted at fourteen
11:40
Speaker 5: hundred dollars but came in at seven hundred and eighty will.
11:45
Speaker 4: That's a win.
11:45
Speaker 5: It's a win. The next one is from Allen not
11:48
Speaker 5: a super relatable one, but I bought a house at
11:50
Speaker 5: the start of last year for four hundred and seventy
11:53
Speaker 5: five thousand dollars, and I spent thirty thousand dollars on Reno's.
11:56
Speaker 5: I've just had it revalued at six hundred and centy
12:00
Speaker 5: thousand dollars a year later, which makes me feel like
12:02
Speaker 5: all of that bargain hunting, hard work and long days
12:05
Speaker 5: were worth it.
12:06
Speaker 2: Oh my god, imagine that is such a big increase
12:10
Speaker 2: in price. How stoked would you be?
12:13
Speaker 5: Kah my God thinks out.
12:15
Speaker 2: The equity they were having their property and their ability
12:17
Speaker 2: to leverage into another property if they're in that financial situation,
12:20
Speaker 2: like the financial freedom that affords. I love it.
12:24
Speaker 5: Bravo, well done Alan. Our sixth and final win of
12:29
Speaker 5: the week. I actually chose this one for you, Victoria Define.
12:32
Speaker 5: It is from Vienna Money Win My Woolworths had the
12:36
Speaker 5: ten pack Cotties spark Boys Drinks I'm special for eight
12:40
Speaker 5: dollars seventy five, down from thirteen seventy five Happy Dance,
12:44
Speaker 5: she wrote.
12:45
Speaker 2: Look happy dance, but I got it for seven dollars
12:47
Speaker 2: a couple of weeks ago. So stuff that in your
12:49
Speaker 2: pipe and smoke it.
12:51
Speaker 5: I wonder if you influenced Vienna to purchase those feeds.
12:54
Speaker 5: You were a fan of those during your COVID days,
12:56
Speaker 5: Am I right?
12:57
Speaker 2: And it's not just COVID like I'm obsessed, like is
13:00
Speaker 2: full of the sparkling Cottis. I think the flavor is
13:03
Speaker 2: called Cooler whatever the green one is. I'm obsessed. I
13:06
Speaker 2: have no regrets. I will die on that hill. It
13:09
Speaker 2: is the best drink that has ever existed.
13:12
Speaker 4: Heaven.
13:13
Speaker 5: Well, that is all I have for you at my girls.
13:15
Speaker 2: Let's go on a break. I'm going to grab a
13:17
Speaker 2: Cotty's cooler, not sponsored, just good, and we'll come back
13:21
Speaker 2: and talk about what's happening in the finance world. Stay
13:24
Speaker 2: right there.
13:25
Speaker 3: Already, anyone who listened to Friday Drinks last week would
13:28
Speaker 3: know that we pushed it out because there's something obviously
13:31
Speaker 3: pretty hectic going on in the world right now, and
13:33
Speaker 3: I think we do need to talk about it, especially
13:36
Speaker 3: because I've seen it impact and kind of overflow onto
13:40
Speaker 3: our platforms, which is why I want to bring it up. Obviously,
13:43
Speaker 3: last week Russia went to war with Ukraine, which I
13:48
Speaker 3: can't even believe I am saying those words. It is
13:51
Speaker 3: really really hard to wrap your head around the devastation
13:55
Speaker 3: that's going on, and so we chose on our platforms
13:58
Speaker 3: to pause everything for a couple of days to really
14:01
Speaker 3: allow the news to sync in for our team, because
14:04
Speaker 3: I'll be honest when I say I was definitely struggling
14:07
Speaker 3: with it a little bit, and I know that it's
14:08
Speaker 3: impacted the rest of us as well, but then also
14:11
Speaker 3: to just allow the more important voices to shine through
14:14
Speaker 3: the news coverage, the charity where all of those things,
14:17
Speaker 3: and if you are looking for ways you can support,
14:19
Speaker 3: we do have a link in our bio on our
14:20
Speaker 3: Instagram and we'll pop something in the show and it's
14:22
Speaker 3: as well with some resources and links where you can donate.
14:25
Speaker 3: But I guess the flow on effect of this news
14:28
Speaker 3: beyond mental health, beyond all of that, and before I
14:31
Speaker 3: jump into it, I'm going to acknowledge that this is
14:34
Speaker 3: coming from a place of privilege. You know, we're sitting
14:36
Speaker 3: at home in our safe country where right now, thankfully
14:41
Speaker 3: we're not feeling the impacts of this too directly outside
14:45
Speaker 3: of the mental stress and toll. But that being said,
14:49
Speaker 3: it's raising a lot of questions for people because global
14:52
Speaker 3: events like war impact the stock market, impact the property market,
14:58
Speaker 3: impact all of these things that a lot of us impact.
15:01
Speaker 2: Fuel prices, Well, it's going to impact everything, and.
15:04
Speaker 4: It impacts I guess this community is all.
15:07
Speaker 3: About working towards financial freedom and thinking about our financial futures.
15:11
Speaker 3: And I've seen a few questions being placed into our
15:14
Speaker 3: groups around this, and there's been a lot of discourse
15:18
Speaker 3: in response. And that's why I wanted to open this
15:20
Speaker 3: conversation because I want to start by saying completely respectfully,
15:27
Speaker 3: what's going on overseas is absolutely imporrent, Like there is
15:31
Speaker 3: no question that if I could snap my fingers and
15:34
Speaker 3: stop it in a second, I would give anything to
15:36
Speaker 3: be able to do that. But with that being said,
15:40
Speaker 3: we need to remember that the people who are asking
15:42
Speaker 3: these questions, and the ones that I sawt were respectful.
15:46
Speaker 3: People are going to have questions because where I think
15:49
Speaker 3: we're all a little bit anxious. We're concerned about our future,
15:52
Speaker 3: We're concerned about our finances and the broader impacts that
15:55
Speaker 3: this might have on us. And while I completely can
15:58
Speaker 3: see the one side of it, people going this is
16:01
Speaker 3: really insensitive. People have it much worse than us. Completely
16:04
Speaker 3: understand that, but let's take a step back and not
16:08
Speaker 3: let our fear cause us to react with anger, because
16:11
Speaker 3: I think that's a little bit of what I was
16:13
Speaker 3: seeing was people being really stressed and being really anxious
16:16
Speaker 3: and saying, oh my god, how can you possibly think
16:19
Speaker 3: about that when people are dying, And again fully recognizing
16:24
Speaker 3: that we're living in a lot of privilege and I'm
16:27
Speaker 3: never being more grateful to be where I am. But
16:31
Speaker 3: I understand people's concern and I think that in uncertain times,
16:35
Speaker 3: people turn to community and turn to their safe space
16:38
Speaker 3: to try and find more information. And I really encourage
16:42
Speaker 3: people in our communities and outside of our communities to
16:45
Speaker 3: not react so quickly and out of anger. Let's try
16:48
Speaker 3: and understand where people are coming from, because these are
16:51
Speaker 3: important conversations. If you have an investing strategy in place, yeah,
16:54
Speaker 3: how is that impacted a one thousand percent? And you're right, Jess,
16:58
Speaker 3: like she's on the money from our perspective, should always
17:01
Speaker 3: be a safe place, and you should be safe and
17:04
Speaker 3: comfortable to ask those questions without people, I guess, jumping
17:08
Speaker 3: down your throat and saying they're disrespectful. Something that you
17:11
Speaker 3: and I had a conversation about last week, and I
17:14
Speaker 3: was incredibly frustrated with was how trivial it was being
17:18
Speaker 3: made out to be by a lot of other finance
17:20
Speaker 3: could you say, like podcasts and content creators and platforms,
17:25
Speaker 3: where they were you know, posting memes about, oh my gosh,
17:28
Speaker 3: the share markets crashing like I should buy some shares,
17:31
Speaker 3: or posting pictures of cats saying like, oh my gosh,
17:34
Speaker 3: like the share markets on sale. And I just think
17:36
Speaker 3: that there is space to have these conversations. There is
17:39
Speaker 3: absolutely not space in our community to to realize this
17:43
Speaker 3: or make it some kind of comedic piece of content,
17:46
Speaker 3: But we should be having a conversation about the impacts
17:49
Speaker 3: of this and what this means. I don't think it
17:51
Speaker 3: means that we're comparing what's going on over in Ukraine
17:55
Speaker 3: and Russia to what's going on here When we say, well,
17:57
Speaker 3: how does this impact my share portfolio? I do think
18:00
Speaker 3: it's a very valid question that we need to address.
18:03
Speaker 3: But you're right, Jess, we need to go all right,
18:05
Speaker 3: we can see what's going on, but we still do
18:07
Speaker 3: need to have these conversations because the more people that
18:10
Speaker 3: have financial security in our community and in the world
18:14
Speaker 3: in general, means there are more people to contribute to
18:17
Speaker 3: things like this when they do happen, so that we
18:19
Speaker 3: can financially support ourselves or our family members and you know,
18:24
Speaker 3: people around us.
18:26
Speaker 2: And I'm acutely aware that there is quite and I
18:29
Speaker 2: didn't realize this, and I'm very grateful, but I've had
18:32
Speaker 2: a lot of messages over the weekend from people, you know,
18:34
Speaker 2: saying thank you, which you shouldn't have to do. We
18:37
Speaker 2: just did the right thing, and we shouldn't be thanked
18:39
Speaker 2: for doing the right thing saying I'm from Ukraine or
18:42
Speaker 2: my family are Ukrainian or I'm Russian, and this is
18:45
Speaker 2: not who we are. And I just am so grateful
18:48
Speaker 2: that people like this are reaching out. But we don't
18:50
Speaker 2: want to downplay how horrendous this is by talking about
18:54
Speaker 2: what does it mean for share prices, or hey, Jess
18:56
Speaker 2: and George, let's talk about how this actually impacts fuel price,
19:00
Speaker 2: because it does, and I want you guys to be educated,
19:03
Speaker 2: and this is actually a piece of that education. I
19:05
Speaker 2: don't want to skimp out and not share that information
19:08
Speaker 2: for fear of being seen as insensitive. My job is
19:11
Speaker 2: to educate you and keep you across issues when it
19:14
Speaker 2: comes to financial literacy, and you know your financial wellness,
19:18
Speaker 2: and this is one of them. Whether you are impacted
19:20
Speaker 2: because you live in Ukraine or you are impacted because
19:24
Speaker 2: your share portfolio went through the floor, both of those
19:27
Speaker 2: are very valid, one obviously far more significant than the other.
19:31
Speaker 2: But that doesn't downplay the fact that some people in
19:34
Speaker 2: our community might be going, oh my god, that's all
19:36
Speaker 2: my life savings. I'm so stressed. You deserve an explanation.
19:40
Speaker 2: You deserve to have that explained to you properly.
19:42
Speaker 5: Really well said that by both of you. And there
19:45
Speaker 5: are also so many other amazing news podcasts where you
19:47
Speaker 5: can get all of this information about what's happening in
19:50
Speaker 5: Ukraine and Russia. So we're a finance podcast, and I
19:53
Speaker 5: think it is really important that we talk about how
19:55
Speaker 5: this is going to impact all of us, even though
19:57
Speaker 5: we are on the other side of the world. I
20:00
Speaker 5: feel like probably the easiest place to start is by
20:02
Speaker 5: chatting about fuel prices, because we've all probably noticed that
20:06
Speaker 5: that has.
20:07
Speaker 2: Not all of us have share portfolios, but most of
20:09
Speaker 2: us have to pay for fuel, and over the last
20:12
Speaker 2: few years it's gotten expensive. But a few of you
20:14
Speaker 2: might have noticed it has just tipped over the two
20:17
Speaker 2: dollar mark. Jess, you were having a soorco. I don't
20:19
Speaker 2: know if this is the right thing to say.
20:21
Speaker 4: It absolutely was.
20:23
Speaker 2: Yeah, before we started recording, you were like, oh my god,
20:25
Speaker 2: fuel was a two dollars when I was driving home,
20:27
Speaker 2: and it is. It's crazy. But the thing that is
20:30
Speaker 2: really interesting about fuel prices is I think a lot
20:34
Speaker 2: of us are going, oh my gosh, it must be
20:36
Speaker 2: because of the Ukrainian and Russian war, right, like that
20:38
Speaker 2: must be it. But did you know that hardly any
20:41
Speaker 2: oil or fuel products that are purchased by Australia and
20:45
Speaker 2: imported to Australia are in fact imported from Russia. It's
20:48
Speaker 2: like less than zero point zero one percent of our
20:51
Speaker 2: imports are from Russia.
20:53
Speaker 3: Really, yeah, I know that one of them exports really
20:57
Speaker 3: heavily to Europe because I've seen that. There's been a
20:59
Speaker 3: lot of talk about, you know, one of the ways
21:02
Speaker 3: that countries are kind of putting their foot down without
21:05
Speaker 3: directly involving themselves. Is like kind of putting a freeze
21:08
Speaker 3: on trade and purchase of certain items. Is So, is
21:12
Speaker 3: it the flow on effect of just going, well, there's
21:14
Speaker 3: about to be scarcity in Europe, so pump up the
21:17
Speaker 3: prices or is it something different?
21:18
Speaker 2: Yeah, very similar to that. So when it comes to
21:21
Speaker 2: Australian imports, we obviously manufacture some of our own, but
21:24
Speaker 2: about two thirds of the oil that we have in
21:26
Speaker 2: Australia actually comes from overseas, and we mainly get that
21:30
Speaker 2: from Singapore, Korea and Japan. However, Russia is actually the
21:34
Speaker 2: second biggest oil exporter in the world after the UAE,
21:38
Speaker 2: so after Saudia Arabia, and it sells a lot of
21:40
Speaker 2: it's oil to China and Europe. But the most interesting
21:44
Speaker 2: thing here is that international oil sales are usually conducted
21:48
Speaker 2: in US dollars, so it's not usually conducted in Australian dollars,
21:52
Speaker 2: and there's obviously a level of currency exchange there, and
21:55
Speaker 2: it doesn't matter who's involved, whether China is selling it
21:58
Speaker 2: to the UAE, it is still like that transaction is
22:01
Speaker 2: made in US dollars, which is kind of wild to
22:04
Speaker 2: think about. But that's just how the oil industry works.
22:08
Speaker 2: But because the USA has actually cut off two of
22:10
Speaker 2: Russia's largest banks as kind of like a would you say,
22:14
Speaker 2: like retaliation from Russia's actions against Ukraine, it's much harder
22:19
Speaker 2: for Russia to sell oil. So what's happening. Everybody is
22:23
Speaker 2: getting their oil from different locations and it's stopping massive
22:26
Speaker 2: global oil sellers from selling oil to Russia and vice versa.
22:30
Speaker 2: So they're churning to the suppliers that we have, but
22:33
Speaker 2: they have much less of a supply than the two
22:35
Speaker 2: biggest places, right, So that's why our prices are going
22:39
Speaker 2: up because of supply and demand. There's far more demand
22:42
Speaker 2: on our supply and because of that they can increase prices.
22:46
Speaker 2: But also there seems to be this like as it
22:49
Speaker 2: happened with toilet paper stockpiling, and people wanting to make
22:54
Speaker 2: sure that they have enough for their countries, which is
22:56
Speaker 2: totally fair, and like I would want to think that
22:59
Speaker 2: Australia is thinking about that too, Like if the world's
23:02
Speaker 2: going to war, which is that's what it looks like,
23:06
Speaker 2: I would want to make sure that they are thinking
23:08
Speaker 2: and our government is thinking about us and making sure
23:10
Speaker 2: that we are okay, And that's one way to make
23:12
Speaker 2: sure we are okay, because that's a massive commodity that
23:15
Speaker 2: helps provide for our country, like oil is the thing
23:18
Speaker 2: that transports our food around the country to make sure
23:21
Speaker 2: that we are still having our shelves in woolies and
23:24
Speaker 2: safeways stocked. Right, So I think that we go, oh well,
23:27
Speaker 2: driving cars isn't the worst in Australia. It's actually our
23:30
Speaker 2: main source of transportation for food and supplies.
23:34
Speaker 3: It also factors into electricity and stuff in some way
23:38
Speaker 3: as well, right, because I've been seeing a lot of reports.
23:41
Speaker 3: Obviously half of the world is currently in winter. We're
23:43
Speaker 3: in summer, but you know, there's a lot of concern
23:46
Speaker 3: around access to resources to power your houses and your heating,
23:52
Speaker 3: and obviously here where we are it's not as significant,
23:56
Speaker 3: but a lot of countries it's negative degrees celsius, literally freezing.
24:01
Speaker 3: So it also needs to be considered and allocated for
24:04
Speaker 3: that purposes.
24:05
Speaker 4: Wow.
24:05
Speaker 2: Absolutely absolutely, And it would be a bit amiss of
24:08
Speaker 2: me to not mention that fuel prices across the board
24:11
Speaker 2: over the last nearly three years terrifyingly have been impacted
24:14
Speaker 2: relatively significantly by COVID. So that's still at play, but
24:18
Speaker 2: I feel like recently COVID's kind of been canceled. I'm
24:22
Speaker 2: not saying it's not as big of an issue, but
24:24
Speaker 2: there are obviously far more pressing things than the virus
24:28
Speaker 2: because people are at war like that is definitely what
24:31
Speaker 2: is taking up a lot of the airspace when it
24:33
Speaker 2: comes to media now one hundred percent.
24:36
Speaker 3: And so I guess we're going to We said we're
24:38
Speaker 3: going to explore these topics. What does this potentially mean
24:43
Speaker 3: for the share market? And again, you know, it's not
24:48
Speaker 3: the be all and end or as you said, but
24:49
Speaker 3: there will be people who are close to perhaps retirement
24:52
Speaker 3: age or things of that nature, who are going to
24:55
Speaker 3: see their super and other investment portfolios that they were
24:58
Speaker 3: potentially relying on take a hit.
25:01
Speaker 4: You know.
25:02
Speaker 3: Can we expect to see the ramifications of this war
25:07
Speaker 3: applying to us, even though as of right now we're
25:09
Speaker 3: not necessarily directly involved.
25:11
Speaker 2: Look, yes and no, Like I think that a lot
25:14
Speaker 2: of people are terrified because the stock market has obviously
25:17
Speaker 2: been really shook by the war in Ukraine, But I
25:21
Speaker 2: don't believe that should change the way we are investing.
25:24
Speaker 2: It shouldn't change your investment strategy or why you're investing
25:28
Speaker 2: unless you are investing in Russian Russian shares and stocks,
25:32
Speaker 2: which most of us in Australia won't actually have a
25:34
Speaker 2: whole heap of exposure to. And if we do, it's
25:37
Speaker 2: very likely that we either have that inner managed fund
25:40
Speaker 2: or we have that in an ETF or an exchange
25:42
Speaker 2: traded fund, and it's a small component of I guess,
25:45
Speaker 2: the larger portfolio at play. And in that case, it's
25:49
Speaker 2: actually not your decision. I mean, you can change your
25:51
Speaker 2: ETF if you would like, but your fund managers are
25:55
Speaker 2: probably looking at that and trying to make sure that
25:57
Speaker 2: they are mitigating risk and making decisions that are in
25:59
Speaker 2: line with the investment strategy that they have and what
26:02
Speaker 2: keeps their investors safe, because that's their job. But the
26:06
Speaker 2: share market is a very interesting place to be right now. Obviously,
26:10
Speaker 2: on the day that it was announced last week, Jess,
26:13
Speaker 2: we were in the office together, George went around for
26:15
Speaker 2: this and it got announced and I was on a
26:19
Speaker 2: video call with our investment team for my financial advice
26:22
Speaker 2: business at the time, and the entire call got completely
26:26
Speaker 2: railroaded with a bunch of financial advisors, compliance and investment
26:31
Speaker 2: specialists watching what was going on in the market, and
26:34
Speaker 2: by close of business that day, and Jess, I think
26:37
Speaker 2: it was like after lunch, like we spent probably two
26:39
Speaker 2: and a half hours on that zoom it had dropped
26:42
Speaker 2: three percent, which is a massive drop for the share
26:45
Speaker 2: market across the board. So the S and P five hundred,
26:48
Speaker 2: which is like the top five hundred companies in the
26:50
Speaker 2: US on average, had dropped three percent, which when you
26:54
Speaker 2: kind of look at it and you go, we'll be
26:56
Speaker 2: three percents not that much for across the board. The
27:00
Speaker 2: average drop in a share market across five hundred different
27:04
Speaker 2: businesses to be three percent, that's massive. Like that change
27:08
Speaker 2: is very, very significant, and it makes sense as to
27:11
Speaker 2: why people are genuinely shook by this and really scared.
27:16
Speaker 2: But it's really important to remember why we are investing.
27:19
Speaker 2: I think a lot of people are probably questioning their
27:22
Speaker 2: portfolios and going, should I just take my money out?
27:24
Speaker 2: Like should I just like sell down? Because if I
27:26
Speaker 2: sell down, then I can't lose any more. And that's
27:28
Speaker 2: where I need to remind you that, yeah, your share
27:31
Speaker 2: portfolio might be valued at less, but it's only actually
27:35
Speaker 2: going to turn into that amount of money if you
27:37
Speaker 2: say I want to put my money out and you
27:38
Speaker 2: crystallize that loss. As we've spoken about before, and from
27:42
Speaker 2: what I'm understanding, and I'm doing a lot more reading
27:45
Speaker 2: on the stock market over the last week, understandably is
27:48
Speaker 2: all of the experts I'm either listening to or reading about,
27:52
Speaker 2: or you know, having discussions with. There's been lots of
27:55
Speaker 2: I guess, roundtable discussions happening in the financial services industry recently.
28:00
Speaker 2: All of the advice, guys is, do not pull your
28:02
Speaker 2: money out, don't stop investing, and any reaction you have
28:06
Speaker 2: to the situation is much more likely to hurt you
28:09
Speaker 2: than help you. And that has come straight from Jeremy Snyder,
28:12
Speaker 2: who is a personal finance expert at the Personal Finance Club,
28:15
Speaker 2: which I think is important to recognize because he's a
28:18
Speaker 2: pretty big name in the US. But he's also doing
28:22
Speaker 2: a whole heap of research. And as you guys know,
28:25
Speaker 2: that's exactly what I would have said, Like, I would
28:28
Speaker 2: not have said, oh, yes, sell your stocks, take a loss.
28:31
Speaker 2: Most of us are in a period of our lives
28:34
Speaker 2: where we're not necessarily needing to sell our stocks. It
28:38
Speaker 2: might be a little bit frustrating for you if you're
28:40
Speaker 2: in a situation where you're like, oh my god, Victoria,
28:42
Speaker 2: I've been saving and investing for the last eight years.
28:45
Speaker 2: I wanted to pull on my money out of stocks
28:47
Speaker 2: this year to buy my first home. It's probably going
28:50
Speaker 2: to railroad that decision. I am sorry. That is the case.
28:53
Speaker 2: That is the nature of the investing world. But the
28:55
Speaker 2: beauty of the investing world is you can wait a
28:57
Speaker 2: little bit longer until the sher market has been unced
29:00
Speaker 2: back a little bit to make that decision, and that
29:02
Speaker 2: would be a part of your investing strategy. So that's
29:05
Speaker 2: also why guys, I never want you to invest for
29:08
Speaker 2: a short period of time, because imagine, Jess, if I
29:12
Speaker 2: had been speaking to you and you've been saving for
29:14
Speaker 2: your first home for the last few years, and you
29:16
Speaker 2: and I have known each other for a while. Now,
29:18
Speaker 2: imagine if I'd sat you down and said, yeah, Jess, like,
29:21
Speaker 2: why don't you put all your money in the share
29:23
Speaker 2: market and let it grow and then when you want
29:25
Speaker 2: to purchase a home, I A right, now, you can
29:28
Speaker 2: pull that money out and we'll use that money to
29:30
Speaker 2: buy Would that have been, in this situation a good idea?
29:34
Speaker 4: Yeah, obviously not. That would have been really detrimental.
29:37
Speaker 2: No, But lots of people are like, oh, but I'm
29:39
Speaker 2: missing out on the returns in the short term. It's like, no,
29:43
Speaker 2: you don't have the grace of writing it out. But Jess,
29:46
Speaker 2: if you'd said, yeah, well, if I buy now or
29:49
Speaker 2: if I buy in five years, I don't really mind,
29:51
Speaker 2: I would have been like, all right, well, investing might
29:53
Speaker 2: be an option for you because you don't seem so
29:55
Speaker 2: set on that timeframe and you're not too worried if
29:58
Speaker 2: I say, as an advisor, don't pull your money out,
30:01
Speaker 2: not worth it yet, and you are, yeah, right, I'll
30:03
Speaker 2: just wait another year. Oras you're not in that position.
30:05
Speaker 2: You don't want to wait another year. You want to
30:07
Speaker 2: buy now. Like there's a sense of urgency about that,
30:10
Speaker 2: and that's okay, and lots of people have that sense
30:13
Speaker 2: of urgency. But that's why we really need to you know,
30:16
Speaker 2: obviously invest in line with our values and our goals,
30:19
Speaker 2: but also respect that the stock market is a stock market,
30:23
Speaker 2: like we don't have that much control over it, or
30:26
Speaker 2: we have is historical data to go across and a
30:29
Speaker 2: risk and reward chart, and how we can actually invest
30:32
Speaker 2: in that is not necessarily personal preference. It's actually what
30:37
Speaker 2: is right to do.
30:38
Speaker 3: And I mean, no one could have made a prediction, right.
30:40
Speaker 3: I don't think anybody would have been sitting at home
30:42
Speaker 3: this time last year and gone, you know what I
30:44
Speaker 3: reckon is going to happen in twelve months.
30:45
Speaker 4: I think there's going to be another war.
30:47
Speaker 3: And I think that that sudden change, or that volatility
30:52
Speaker 3: is what's really scary for me personally. It's giving me
30:57
Speaker 3: and I mean for me personally, it's giving me a
31:00
Speaker 3: lot of anxiety around when I think back to wars,
31:02
Speaker 3: I think about to like World War One or World
31:04
Speaker 3: War two and the huge impact that that had. Obviously,
31:09
Speaker 3: we're definitely not there right now, but there's a lot
31:12
Speaker 3: of talk about where this could potentially go, and obviously
31:15
Speaker 3: you would hope that that's absolutely not the case. But
31:18
Speaker 3: I think that's why people are having these questions and
31:21
Speaker 3: why it was important for us to have this conversation.
31:24
Speaker 3: And I just wanted to touch on as well the
31:27
Speaker 3: mental health aspect. And you know, we were having this
31:30
Speaker 3: conversation off air, the three of us, and you know,
31:32
Speaker 3: I was talking about how anxious I'm feeling about it
31:35
Speaker 3: and how people are reacting to these conversations that we've
31:38
Speaker 3: been seeing, and I Guess you said it's important to
31:42
Speaker 3: not downplay what I'm feeling, and you know, it's important
31:46
Speaker 3: for our community to not downplay what you're feeling, because
31:49
Speaker 3: I think what I said was I'm so afraid. I'm
31:52
Speaker 3: genuinely so scared for the people that are in Ukraine,
31:56
Speaker 3: the people that are in Russia that are having to
31:58
Speaker 3: be involved in something they don't want to be involved in,
32:00
Speaker 3: all of these people who are being swept up in
32:03
Speaker 3: this violence, this unnecessary violence, and that really truly shakes
32:09
Speaker 3: me to my core. But at the same time, I'm
32:12
Speaker 3: so lucky, Like I'm sitting at home in my house
32:15
Speaker 3: on the floor with my cats and my microphone and
32:17
Speaker 3: just living my best life. And it feels almost wrong
32:22
Speaker 3: to have these feelings and to feel this fear, and
32:24
Speaker 3: I feel guilty because I'm not doing enough, you know,
32:28
Speaker 3: like I've given money, but it's not enough. Like I'm
32:30
Speaker 3: not doing or being or seeing enough, and I don't
32:33
Speaker 3: know what to do. And it's so overwhelming, like it's
32:36
Speaker 3: really really heavy, and I'm sure that I'm not the
32:40
Speaker 3: only person feeling that.
32:41
Speaker 2: You know, where a community, this is common, Jess, Yeah,
32:43
Speaker 2: like it is so common, but I feel like you particularly,
32:48
Speaker 2: and this probably happens to a lot of people in
32:49
Speaker 2: our community, really downplay your experiences because, quote, somebody else
32:53
Speaker 2: has it worse. Please, don't get me wrong, someone right
32:56
Speaker 2: now absolutely does. But that does not mean that you're
32:59
Speaker 2: not experiencing anxiety. Doesn't mean that you're not experiencing depression
33:04
Speaker 2: or that feeling of being completely lost and helpless. That
33:07
Speaker 2: is very real. And do you know what that is
33:10
Speaker 2: a reflection of the empathy you have as human Like,
33:13
Speaker 2: how beautiful is it that you care so much about
33:17
Speaker 2: people you've never met? And I feel like the best
33:20
Speaker 2: thing we can do in this situation is acknowledged that
33:23
Speaker 2: because do you know what, if my country was going
33:26
Speaker 2: through that and I was in their shoes, I would
33:29
Speaker 2: be genuinely grateful that the people on the other side
33:31
Speaker 2: of the world were feeling anxious for me. Like the
33:34
Speaker 2: fact that you have other people who you've never met
33:37
Speaker 2: and you're in their thoughts, to me, that's a really
33:39
Speaker 2: beautiful reflection of the type of person you are. Jes right,
33:43
Speaker 2: And there's lots of people in our community that are
33:45
Speaker 2: exactly the same. But I think it's actually our job
33:48
Speaker 2: to keep our eyes and our ears open. It is
33:51
Speaker 2: our job to keep educated and understand what's going on
33:54
Speaker 2: and understand how this works, not go oh, it's all
33:57
Speaker 2: too hard. I think it's our job to make sure
33:59
Speaker 2: that we're looking looking after our own mental health. And
34:02
Speaker 2: when we're reading media and it's getting too much, I
34:04
Speaker 2: think being able to step back and say, do you
34:06
Speaker 2: know what I just I can't deal with this right now,
34:09
Speaker 2: and that's okay. But I think consistently it's our job
34:13
Speaker 2: as a community to stay educated on how we can
34:16
Speaker 2: have the best impact, and right now, because it is
34:19
Speaker 2: so new, we don't know what that is yet. But
34:22
Speaker 2: you best believe we will be sharing exactly how you
34:25
Speaker 2: can help and what can happen and how it's going
34:27
Speaker 2: to impact us as soon as we know. Because at
34:30
Speaker 2: the same time as us, you know, being on this podcast,
34:33
Speaker 2: sharing it with all the view this month, it is
34:37
Speaker 2: overwhelming at the same time because we don't know any
34:39
Speaker 2: more than you do, we are feeling the same way
34:42
Speaker 2: that you do. And that's okay, and we are all
34:45
Speaker 2: in it together. But I don't want for one minute
34:48
Speaker 2: people to feel like their contributions aren't enough. Because even
34:52
Speaker 2: if you can't afford to donate money or time or resources.
34:56
Speaker 2: The fact that everybody over there is in your thoughts
34:59
Speaker 2: is so overwhelmingly beautiful.
35:02
Speaker 5: I think one hundred percent. We can't underestimate the impact
35:06
Speaker 5: this is having on all of our mental health. Even
35:08
Speaker 5: though we're not over there, we're not finding in the
35:10
Speaker 5: war like you can't compare it to that. But you
35:12
Speaker 5: also can't diminish your own struggles, especially after we've just
35:16
Speaker 5: gone through the weirdest two years of all time, and
35:20
Speaker 5: that was hard enough, and now you know, the masks
35:22
Speaker 5: have gone on Friday. On Friday afternoon, a war was declared.
35:26
Speaker 5: So it's been a lot for us to take on
35:30
Speaker 5: just in terms of resources, both for our own mental
35:33
Speaker 5: health and to contribute and help out in any way
35:37
Speaker 5: we can to Ukraine. What's out there for.
35:40
Speaker 3: Us definitely, So we put a link in our Instagram
35:43
Speaker 3: bio and we can probably plug it into the show
35:45
Speaker 3: notes as well with a really great article that has
35:47
Speaker 3: some direct Ukrainian resources of all different kinds. There's you know,
35:52
Speaker 3: fund for healthcare, fund for I think housing, and a
35:56
Speaker 3: few different options or alternatively, UNISEF have actually.
36:00
Speaker 4: Just launched a funder as well.
36:02
Speaker 3: They're obviously a very legitimate, above board nonprofit and I
36:06
Speaker 3: think it's important. As horrible as this is to say,
36:09
Speaker 3: times like these really bring out of the woodwork. Unfortunately,
36:13
Speaker 3: some people who do want to take advantage of the situations.
36:17
Speaker 3: So anyone who is donating money, which is incredibly generous.
36:22
Speaker 2: Please make sure it's going to the right places. We
36:24
Speaker 2: saw this during COVID, people taking the absolute mickey by
36:28
Speaker 2: setting up fake gofund me pages and things that you know,
36:33
Speaker 2: weren't for the best, or potentially people thought they were
36:36
Speaker 2: for the best, but then they found out that they
36:38
Speaker 2: were donating to a group that actually, you know, didn't
36:41
Speaker 2: support gay rights or didn't support you know, parts of
36:44
Speaker 2: our community that are really important to us, because they
36:46
Speaker 2: were just too quick to donate because they were like,
36:48
Speaker 2: oh great, like this is how I can contribute, So
36:51
Speaker 2: please do your research or rely on the fact that
36:53
Speaker 2: we've done a little bit for you. Obviously, only donate
36:57
Speaker 2: if you are financially able to do so. But that
36:59
Speaker 2: is a really great way of supporting the people over
37:02
Speaker 2: there that you know, we can't do a lot for
37:04
Speaker 2: in this moment.
37:05
Speaker 3: And I think recognizing as well that every dollar in
37:08
Speaker 3: this kind of situation helps. If every person listening to
37:10
Speaker 3: this podcast, chapter dollar in that is a lot of
37:13
Speaker 3: money that would be going their way.
37:14
Speaker 2: Imagine if all one point two million listeners had donated
37:18
Speaker 2: a dollar, that would be like more than a quarter
37:21
Speaker 2: of what Australia has sent over in age.
37:23
Speaker 3: Absolutely, so don't diminish your contributions. If you can't contribute,
37:27
Speaker 3: that is also very very okay. It's more just an
37:31
Speaker 3: option to put on the table that I wanted to say.
37:34
Speaker 3: It's there if you do feel like that's something that
37:36
Speaker 3: you really want to contribute to, but if you can't,
37:38
Speaker 3: that's fine. And then in terms of mental health resources,
37:42
Speaker 3: all of the usual we've got, you know, obviously the
37:44
Speaker 3: National Helpline, beyond Blue, Black Dog, heaps of different online
37:49
Speaker 3: call centers that you can call and talk through your feelings.
37:52
Speaker 3: If you're having a hard time, please please reach out because,
37:56
Speaker 3: as you said, VI, we diminish what we're feeling and
37:59
Speaker 3: then we're no good to anybody because we're carrying a
38:01
Speaker 3: load by ourselves.
38:03
Speaker 4: It is just too much to hold.
38:04
Speaker 2: Like you can't pour from an empty cup. And at
38:07
Speaker 2: the end of the day, if the best thing for
38:08
Speaker 2: your mental health right now is turning off your social
38:11
Speaker 2: media and tuning out of any type of news. I
38:15
Speaker 2: think that's a really fair thing to do. I know
38:18
Speaker 2: that the world is heavy right now, but it isn't
38:20
Speaker 2: all your burden to carry, and I think a lot
38:23
Speaker 2: of us tend to take a lot of that weight
38:25
Speaker 2: onto our shoulders and carry that even though it's not
38:28
Speaker 2: our burden, if that makes sense. It's not on you solely,
38:32
Speaker 2: and it can be really hard. But as you're saying, Jess,
38:35
Speaker 2: you can't pull from an empty cup, so make sure
38:37
Speaker 2: your cup is full and then you can help.
38:39
Speaker 5: More So, basically in some guys, if you do need
38:41
Speaker 5: help or you want to support Ukraine, head to all
38:43
Speaker 5: of the links in our show notes. They'll all be
38:45
Speaker 5: there for you. But that is probably all we have
38:47
Speaker 5: time for today, ladies.
38:48
Speaker 2: It is, but before we go, please remember that She's
38:52
Speaker 2: on the Money is a safe space. If you have
38:54
Speaker 2: any questions, they will be met with love and support
38:57
Speaker 2: and education and we will always be trying to put
39:00
Speaker 2: you in the best possible position. And that doesn't just
39:03
Speaker 2: go for questions, it goes for responses too. So if
39:05
Speaker 2: you're seeing something in the Shees on the Money community
39:08
Speaker 2: that's potentially triggering you or you think is wildly inappropriate,
39:12
Speaker 2: please know that all of our posts are vetted before
39:15
Speaker 2: they actually get through to the group. So if you
39:18
Speaker 2: see something in our community that is up, please know
39:21
Speaker 2: that we have looked at it and thought that that
39:23
Speaker 2: was a provocative and good conversation for our community to
39:26
Speaker 2: be having at this point in time, and we believe
39:29
Speaker 2: that our community would meet that post with the respect
39:31
Speaker 2: that it deserves. We are not trying to trivialize this,
39:34
Speaker 2: but if you do see something in the community and
39:36
Speaker 2: you're like, why the hell are they talking about the
39:38
Speaker 2: stock market, guys, it's because it's so important to be
39:41
Speaker 2: financially literate, regardless of what is going on in the
39:45
Speaker 2: rest of the world. We are not diminishing the importance
39:47
Speaker 2: of that, but we need to have space to talk
39:50
Speaker 2: about these things so that we can pour from that
39:52
Speaker 2: full cup that Jess was talking about. But as George said,
39:56
Speaker 2: that is actually all we have time for today now.
39:58
Speaker 2: So just before we head off, we'd like to acknowledge
40:01
Speaker 2: and pay respect to Australia's Aboriginal and torrest Ray Islander peoples.
40:05
Speaker 2: They're the traditional Custoudians of the lands, the waterways and
40:08
Speaker 2: the skies all across Australia. We thank you for sharing,
40:12
Speaker 2: and they're caring for the land on which we are
40:14
Speaker 2: able to learn. We pay respects to elders past and present,
40:17
Speaker 2: and we share our friendship and our kindness.
40:20
Speaker 5: And remember, guys, that the advice shared on She's on
40:22
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40:25
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40:29
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40:32
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40:48
Speaker 2: See you next week, guys, Bye bye us