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FRIDAY DRINKS: Gettin' the band back together · She's On The Money

0:00
Speaker 1: She's on the Money, She's on the Money.
0:22
Speaker 2: Hello, and welcome to She's on the Money, the podcast
0:26
Speaker 2: for millennials who want financial freedom. Welcome back to another
0:30
Speaker 2: one of our Friday Drinks episodes, where this week we
0:33
Speaker 2: do have the whole gang here to celebrate the money
0:36
Speaker 2: wins from ow She's on the Money community. As we
0:39
Speaker 2: all know, there are so many great money wins and
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Speaker 2: confessions that are shared every single week in our She's
0:44
Speaker 2: on the Money group. And Jess, George and I have
0:47
Speaker 2: spent a very big part of the last hour talking
0:49
Speaker 2: about how great you are, so it only felt fair
0:52
Speaker 2: to hit record and start sharing them with you. Friday
0:55
Speaker 2: is about celebrating our community and having more positive and
0:58
Speaker 2: constructive conversations around, So let's jump straight into it. Jess
1:02
Speaker 2: and George together, Welcome back to the show.
1:05
Speaker 3: Oh my gosh, everyone, Yeah, hey girl, the spicy cough
1:10
Speaker 3: has not got us that far down, Absolutely not. Miss Arner,
1:14
Speaker 3: not today.
1:15
Speaker 2: Today, Satan, not today. And George, Jess, you're feeling better.
1:19
Speaker 2: You're good on the mend on the men, never better
1:23
Speaker 2: on the money. Good here all right, Jess, let's start
1:27
Speaker 2: off with you tell us what happened this week? I
1:31
Speaker 2: can't work out what was on money though.
1:34
Speaker 3: Why sat That's because we didn't have an episode. Big
1:38
Speaker 3: apology everyone who was waiting. Unfortunately we had a diarist
1:43
Speaker 3: canceled last minute, which happens no heart to be great
1:46
Speaker 3: at all. We've been known to need to move something
1:49
Speaker 3: around as well. But it does leave us in a
1:51
Speaker 3: bit of a tricky spot because with the Chrissy break
1:54
Speaker 3: and everything, we normally have a couple in the bank,
1:57
Speaker 3: but this time we just unfortunately didn't.
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Speaker 2: We'd used up all of our nine lives I had
2:03
Speaker 2: then left, so sorry, that seems fair. It's like, on,
2:05
Speaker 2: who wants to be a millionaire and you've got like
2:07
Speaker 2: three lives that you can use, you can like phone
2:09
Speaker 2: a friend or whatever. Like, we used all of those up.
2:13
Speaker 2: But we promise Jesse's very organized, so I reckon we'll
2:16
Speaker 2: get ahead very soon so it won't happen again. But
2:19
Speaker 2: I mean, we're sorry, But also we don't want to
2:21
Speaker 2: put junk interiors, so we didn't want to do like
2:23
Speaker 2: a last minute ditch to try and like scrape something
2:26
Speaker 2: together that just didn't hit the mark. It's just not
2:29
Speaker 2: who we are, is it, guys, Not at all?
2:31
Speaker 3: But we did have more success. On Wednesday, we did.
2:34
Speaker 2: We actually got that episode in your ear? Is George?
2:37
Speaker 2: What happened on the show?
2:38
Speaker 1: Oh it was a fun one, guys. We spoke about
2:40
Speaker 1: power of attorneys.
2:42
Speaker 2: Oh my gosh, make it sound sexier, George show.
2:45
Speaker 1: It sounds extremely bland, doesn't it, But as we learned
2:48
Speaker 1: throughout the episode, it was actually super super interesting. And
2:52
Speaker 1: I remember going into that at Bee. I was like,
2:54
Speaker 1: how is this relevant? This sounds boring, Like what what
2:57
Speaker 1: are we going to learn today? And we learned heaps, I.
3:00
Speaker 2: Would love to think. So I remember bringing up the
3:02
Speaker 2: topic with you and You're like what, and I was like, yes,
3:05
Speaker 2: that is something we are going to talk about on
3:07
Speaker 2: the podcast because everybody needs to know. George quick recap
3:11
Speaker 2: what's the power of attorney? For those of us who
3:13
Speaker 2: missed the EP?
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Speaker 1: So really long story short, A power of attorney is
3:17
Speaker 1: essentially a legal document that outlines who will look after
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Speaker 1: your affairs in the event that you can no longer
3:25
Speaker 1: look after them. So that might be that you suffer
3:28
Speaker 1: from an illness that takes away your ability to make decisions,
3:31
Speaker 1: or it might be that you're moving overseas and can't
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Speaker 1: look after your own affairs while you're away. So there's
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Speaker 1: a few different types. There's also medical power of attorneys.
3:39
Speaker 2: And they're different. They're completely different, Yes, very much so.
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Speaker 1: But we also learned what happens if you don't have one,
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Speaker 1: how you go about choosing an appropriate person to be
3:50
Speaker 1: your power of attorney, like there were there was heaps
3:52
Speaker 1: in there.
3:52
Speaker 2: It's really good. I I'm biased, so I think it
3:55
Speaker 2: was a pretty good episode. Jess What were you about
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Speaker 2: to say?
3:57
Speaker 3: I feel like it's one of those topics and we've
4:00
Speaker 3: done a few of these in the past, and I
4:01
Speaker 3: have a few on our lists to come up in
4:03
Speaker 3: the coming months. But you don't think you need to
4:07
Speaker 3: know about it until you need to know about it.
4:09
Speaker 3: It's just a good topic to have in your back
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Speaker 3: pocket to make it real topical. For a second, anyone
4:15
Speaker 3: who's been following miss Britney Spears and her conservativeship not
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Speaker 3: the exact same thing. Obviously, it's international. It's a conservatiship,
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Speaker 3: not a power of attorney. However, it does bring to
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Speaker 3: attention why we should be talking about this, because if
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Speaker 3: you don't have the knowledge and don't have things in
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Speaker 3: place when you perhaps might need them, you could find
4:34
Speaker 3: yourself in a less than ideal situation.
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Speaker 1: Yeah, and we did. We spoke about that, so that's
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Speaker 1: yea well picked up jay Rick.
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Speaker 2: And I also think there's this massive misconception that a
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Speaker 2: power of attorney is something that wealthy people have, and
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Speaker 2: it's not. It's something that we all could have. Like George,
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Speaker 2: we've spoken about it before. It breaks my heart. But
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Speaker 2: at some point you want to go overseas leaving the
4:54
Speaker 2: she's on the Putney team one day and travel and
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Speaker 2: live overseas and maybe we'll work out away for you
5:00
Speaker 2: record remotely, but you know, we'll work it out as
5:02
Speaker 2: we go. But that's something even you should go. Is
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Speaker 2: that something I need? It's not just for people who
5:07
Speaker 2: have millions and millions of dollars And just in your example,
5:10
Speaker 2: you're absolutely right, like Britney Spears is a massive example
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Speaker 2: of an abusive power and something we really should be
5:16
Speaker 2: aware of and what can happen. Thankfully, conservative ships aren't
5:20
Speaker 2: common in Australia. I don't even think they're legal, but
5:22
Speaker 2: again I'm not a lawyer, so I don't want to
5:24
Speaker 2: say they're not because I couldn't find enough information about
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Speaker 2: it online. However, it's not just wealthy people. It could
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Speaker 2: be me, It could be you, Jess, it could be George,
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Speaker 2: it could be you know, our parents needing to go
5:35
Speaker 2: through that situation. So this is one if you've read
5:38
Speaker 2: the title and you're like, oh, that's so irrelevant for me,
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Speaker 2: it's actually not. We all need to understand this, know
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Speaker 2: our rights and know our power. All right, George, onto
5:47
Speaker 2: some more exciting and less dry content. I believe you
5:51
Speaker 2: have been in the Facebook group once again this week
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Speaker 2: pulling out the money wins that you think should be
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Speaker 2: shared on the show. What have you got for us
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Speaker 2: this week? George?
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Speaker 1: Absolute beauties as per my Friends. The first money win
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Speaker 1: here comes from Shellini, So her money win this week
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Speaker 1: is that she actually went through and checked that she
6:11
Speaker 1: had received Medicare rebates that she was entitled to, and
6:15
Speaker 1: in doing so, she discovered that she didn't get one
6:17
Speaker 1: for a psych appointment back in February. It was just
6:20
Speaker 1: due to a little Medicare card number era, so not
6:23
Speaker 1: a big deal, but she got one hundred and twenty
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Speaker 1: eight dollars fifty back just for putting in the effort
6:28
Speaker 1: to have a little look see too.
6:31
Speaker 3: Also applicable if you have private health because I know
6:34
Speaker 3: that sometimes they won't do it when you're like on location,
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Speaker 3: and you can usually subit like up to twelve months
6:40
Speaker 3: after you've used it. And so I went through my
6:43
Speaker 3: private health doc and realized that I could claim my
6:46
Speaker 3: contact lenses, which I didn't know who. Yeah, so I
6:50
Speaker 3: went back and claimed like twelve months worth of contact lenses.
6:52
Speaker 3: So amazing. Check your health stuff, ladies. Yeah, you could.
6:56
Speaker 2: Claim contact lenses, but it makes sense because you can
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Speaker 2: claim optometry. So like I just I just wouldn't have
7:01
Speaker 2: thought of that. She go check it out, Jesse, you
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Speaker 2: probably just saved someone this week a serious amount of money.
7:08
Speaker 2: I love that.
7:11
Speaker 1: Our next wind Ladies comes from Renata. This one's kind
7:14
Speaker 1: of sad and happy at the same time. So Ranata's
7:17
Speaker 1: ex and her actually split up two months after moving
7:20
Speaker 1: into the house that they built together.
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Speaker 3: They ended up.
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Speaker 1: Selling the house, but they made three times more than
7:26
Speaker 1: what they put into it because of how much the
7:28
Speaker 1: property market has popped off in recent time.
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Speaker 2: Money win, guys, money win exactly.
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Speaker 1: So she's sad that the relationship has ended, but she's
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Speaker 1: managed to walk away with so much money and is
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Speaker 1: planning on building a house of her own within the
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Speaker 1: next twelve months.
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Speaker 2: So yeah, exciting. Congratulations my friend. How good is that?
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Speaker 1: Exactly? And I hope you're getting through the breakup. Okay,
7:51
Speaker 1: it's always a horrible time, but this is exciting that
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Speaker 1: you have a big goal coming your way this year.
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Speaker 2: Absolutely.
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Speaker 1: Our next wind Gals is from ken So she's started
8:00
Speaker 1: putting money aside for her car related expenses. A few
8:03
Speaker 1: months ago after becoming a listener, she put her car
8:07
Speaker 1: in for a routine service and was blind sided by
8:09
Speaker 1: the need for four new tires. That always sucks when.
8:13
Speaker 2: Seal audacity all of it should be a buy three,
8:16
Speaker 2: get one free kind of sitch.
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Speaker 1: Luckily, though, she was able to pay for it without
8:23
Speaker 1: using her credit card or by dipping into her savings,
8:25
Speaker 1: which is the first for her, because she was putting
8:27
Speaker 1: that money aside.
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Speaker 3: So clever, clever, little kid.
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Speaker 1: Our next one gals is from Hailey Huge money when
8:35
Speaker 1: she writes moving Out edition, My partner and I move
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Speaker 1: out of home and in together. This weekend, I posted
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Speaker 1: on a local page where I live and managed to
8:43
Speaker 1: score a free brand new couch washer and dryer. What yeah,
8:47
Speaker 1: but there's more. On top of that, we've managed to
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Speaker 1: score a dining table, a coffee table, bedsides, outdoor set
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Speaker 1: and a barbecue for a total of one hundred and
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Speaker 1: fifty dollars.
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Speaker 2: Sorry, what bread, She's really drop the message that you
9:01
Speaker 2: posted on that board because I think a few she's
9:03
Speaker 2: on the money friends are going to want to copy
9:06
Speaker 2: and paste that message into their own local boards to
9:08
Speaker 2: see what they can get. But that kind of makes sense, right,
9:11
Speaker 2: like popping a message in a community board being like, hey,
9:14
Speaker 2: we're moving into the area, like we're new to this,
9:17
Speaker 2: I'm so help reply to that.
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Speaker 3: There's a Facebook not a trend, but there's a lot
9:21
Speaker 3: of buy nothing groups, which is where you have things
9:25
Speaker 3: that you If you google like your area like Melbourne
9:28
Speaker 3: buy nothing, they should come up. And it's local to
9:31
Speaker 3: like suburbs. So you'll often find people who are like, hey,
9:33
Speaker 3: like I've upgraded my dining table, does anyone want this one?
9:35
Speaker 3: It's like a pay it forward, good for the environment
9:38
Speaker 3: while worth plugging it interface seeing what you can get,
9:40
Speaker 3: and then when you have something that maybe you need
9:43
Speaker 3: to get rid of, do the same thing and pay
9:45
Speaker 3: it forward.
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Speaker 2: Yeah, I love that. Oh, I don't know how we've
9:49
Speaker 2: missed this Guy's turns out I might be living under
9:52
Speaker 2: a rock, George, what else have we got? Maybe this
9:55
Speaker 2: one will resonate.
9:56
Speaker 1: So our next win is from Isabella at the end
9:58
Speaker 1: of last year herself that she would get on top
10:01
Speaker 1: of her budget. Yes, she opened an account with up
10:04
Speaker 1: and has her money going into all the little savings
10:06
Speaker 1: accounts she's created for herself, so she knows where every
10:09
Speaker 1: dollar is going now. The money win though, is that
10:12
Speaker 1: she had an unexpected bill that she didn't factor into
10:15
Speaker 1: her budget, but she was able to take it from
10:17
Speaker 1: her emergency fund and not stress about it. So she's like,
10:20
Speaker 1: I was really an emergency, but it was nice not
10:22
Speaker 1: to stress.
10:23
Speaker 2: No, that is an emergency, Like, that's absolutely what your
10:26
Speaker 2: emergency fund is for. It's for things that just pop
10:28
Speaker 2: up that you could potentially go into debt for. I mean, yes,
10:32
Speaker 2: there's obviously actual emergencies like oh my gosh, I've totaled
10:35
Speaker 2: my car and I need to pay the excess, or
10:38
Speaker 2: you know, for me when my dog ate chocolate and
10:41
Speaker 2: I needed to take her to the emergency vet. Like,
10:42
Speaker 2: that was a very big bill, but it came out
10:45
Speaker 2: of my emergency fund. But if you've got a bill
10:47
Speaker 2: that's just popped up out of nowhere, don't need to
10:50
Speaker 2: have to pay it, don't need to put it on
10:51
Speaker 2: a credit card, don't need to borrow fifty bucks from
10:53
Speaker 2: your housemate because you've got your own back. How good
10:55
Speaker 2: is that?
10:56
Speaker 1: It's very good. I knew you'd like that one VD. Yeah,
10:59
Speaker 1: this one I chose because I know you will both approve.
11:03
Speaker 1: So it's from m Her local Bunnings finally got the
11:07
Speaker 1: new range of rare indoor plants in she went to sea.
11:12
Speaker 2: They get rare indoor plants. Yes, we need to.
11:15
Speaker 3: Look this up, girlies. They don't sell them on the
11:17
Speaker 3: West side.
11:17
Speaker 2: That's I've never seen rare indoor plants at Bunnings. Like
11:23
Speaker 2: you got your standard monsterra. You could probably get some
11:26
Speaker 2: Devil's ivy and be sure as hell, can get a
11:28
Speaker 2: lot of different types of lavender, but you cannot get
11:31
Speaker 2: a Thai Constellation monsterra or an elbow Like. People are
11:35
Speaker 2: going to be like, what is she talking about?
11:37
Speaker 3: Literally, if you.
11:37
Speaker 2: Know, you know, if you know you know, hold on,
11:40
Speaker 2: tell us more, George.
11:41
Speaker 1: Okay, So she says that she went absolutely overboard and
11:44
Speaker 1: had seven in her basket, but she can't dare to
11:47
Speaker 1: leave any of them behind because they're already her little
11:49
Speaker 1: plant babies, so she took them all to the counter.
11:53
Speaker 1: The woman at the register undercharged her, but she didn't
11:56
Speaker 1: realize until she got home. So that's that's the winning health.
12:00
Speaker 1: Except she didn't. She's an angel. What does she do?
12:04
Speaker 1: She picks up the blower also known as the phone,
12:07
Speaker 1: calls the store, says, Hi, guys, so sorry, you undercharge me.
12:11
Speaker 1: I've got all a plant, a houseful of plants for
12:14
Speaker 1: a hot deal. Like I'll come in and I'll give
12:16
Speaker 1: them back. They thanked her for her honesty and told
12:20
Speaker 1: her to keep them.
12:22
Speaker 3: Fifty dollars.
12:24
Speaker 2: Wow here I am being like sure, and she's like, no,
12:28
Speaker 2: I wanted to give them back.
12:31
Speaker 1: Actually, hang on, there's there's one more line here I missed.
12:34
Speaker 2: Okay, sorry, sorry what is it?
12:35
Speaker 1: She's now going to propagate the cuttings from these plants
12:38
Speaker 1: and sell them as a mini side Hussley.
12:43
Speaker 2: You are you've you've peaked. That is that she's on
12:46
Speaker 2: the money poster girl right there? You are our people.
12:50
Speaker 2: You like plants, you like money wins, you like propagating plants.
12:53
Speaker 2: Do a little sneapy snip. It's not deally, it's what
12:56
Speaker 2: Jess is it. It's liberating exactly right.
12:59
Speaker 3: It's liberating esecially when you already own it. So oh
13:01
Speaker 3: my gosh, I love that that it turned out so
13:03
Speaker 3: well for her. She did the right thing, and like
13:05
Speaker 3: the good karma just came immediately right back around.
13:08
Speaker 1: We love to see it. That's my last one for
13:11
Speaker 1: the day.
13:11
Speaker 2: No, I love that. That was a really good one
13:13
Speaker 2: to finish it on. I feel like people who pick
13:16
Speaker 2: up the phone and are like, hey, you undercharge me,
13:18
Speaker 2: they have like no need to do that because it's
13:21
Speaker 2: not technically theft and no one's going to come and
13:24
Speaker 2: get you. But like they're the type of people I
13:26
Speaker 2: want to know, Like they are the wholesome people that
13:28
Speaker 2: are in our community. And I just feel so special
13:31
Speaker 2: that she shared that with us. But imagine her being
13:33
Speaker 2: your friends. You're like at breakfast, she's like, oh my god,
13:35
Speaker 2: yar and I called Bunnings and I wanted to give
13:37
Speaker 2: them back, like I'd be like, I love you, you're
13:40
Speaker 2: my people.
13:41
Speaker 1: M's an angel.
13:42
Speaker 2: Yeah, I know em is an angel. But before I
13:44
Speaker 2: get too into it, let's go to a quick break
13:46
Speaker 2: and then George Jess, we have spicy content to share
13:50
Speaker 2: that I didn't realize was spicy after maybe one too
13:53
Speaker 2: many glasses of wine on a Sunday night. Don't go anywhere,
13:57
Speaker 2: all right, George. So first things first, we probably need
14:00
Speaker 2: to tell Jess what we did last week. We kind
14:02
Speaker 2: of just railroaded this segment, which is usually like a
14:06
Speaker 2: show and tell kind of segment where we talk about
14:08
Speaker 2: something that's happening in the media, or we might have
14:10
Speaker 2: a few listener questions and like it's a bit flexible.
14:14
Speaker 2: But Jeeki and I we went rogue. We started book
14:17
Speaker 2: club last week and whilst we're not doing book club
14:20
Speaker 2: this week, we probably thought we should get your approval.
14:22
Speaker 2: I think the community likes it though. If you heard
14:24
Speaker 2: of book club already, Jess.
14:25
Speaker 3: A few people have mentioned it, yes, and it seems
14:27
Speaker 3: to be in on the thing. So what are we thinking,
14:31
Speaker 3: Like maybe a monthly segment where gives people time to
14:34
Speaker 3: read the book if they want to read along.
14:36
Speaker 2: Oh no, this fake girl. You clearly did listen to
14:39
Speaker 2: the podcast. This is fake book club where you don't
14:42
Speaker 2: even have to read the book. I will read the book.
14:45
Speaker 2: I would tell you the key points that you needed
14:47
Speaker 2: to take away from that book, and then you pretend
14:49
Speaker 2: you read the book. That's our book club.
14:51
Speaker 3: Books sounds like the kind of book club I want
14:54
Speaker 3: to be a part of.
14:56
Speaker 2: You are actually an honorary member, and you will be
14:59
Speaker 2: privy to every book club meeting that we actually hold.
15:02
Speaker 2: Will they be scheduled? No? Will they be absolutely random
15:05
Speaker 2: and you'll never foresee them coming. Yes. So whenever I
15:08
Speaker 2: finish a finance book or reread one, I'm gonna pop
15:11
Speaker 2: on the show and let you guys know what's up.
15:13
Speaker 2: If you have any requests, though, please lid into our dms,
15:17
Speaker 2: because a lot of finance books are really dry. They
15:20
Speaker 2: are dry, or they are boring. But I think it's
15:23
Speaker 2: really exciting that we are now going to start talking
15:25
Speaker 2: about them and what they actually mean. Because so many
15:28
Speaker 2: times in our community, and Jess and George, you would
15:30
Speaker 2: hear this a lot, people like, oh my gosh, which
15:32
Speaker 2: books should I read? And you hear the standards. You
15:35
Speaker 2: obviously hear richest man in Babylon. You hear rich dad,
15:38
Speaker 2: poor dad. You would hear the barefoot investor. Hopefully people
15:41
Speaker 2: are recommending she's on the money. But you kind of go,
15:44
Speaker 2: why would I pick up these books if you've never
15:46
Speaker 2: picked them up before? What's rich dad? Poor dad? Do
15:49
Speaker 2: you know what I mean like, at least I can
15:51
Speaker 2: tell you the premise of the book and you might go,
15:53
Speaker 2: do you know what? That sounds exactly like something I
15:55
Speaker 2: would want to read, or oh, I don't want to
15:56
Speaker 2: read about behavioral finance. That's way too technical for me
15:59
Speaker 2: to start on. So hopefully it means you don't have
16:03
Speaker 2: to read the book and you get all the tips
16:04
Speaker 2: and tricks from them from us just telling you about
16:07
Speaker 2: the new book club. But if not, I think it's
16:09
Speaker 2: a good intro to you potentially reading your own finance books. Fine,
16:13
Speaker 2: but George, this week, what are we doing?
16:16
Speaker 1: Okay, so let's talk about a little article that I
16:20
Speaker 1: found before the show VD when I was doing my
16:24
Speaker 1: my pre pod planning, trying to find some saucy news
16:27
Speaker 1: for us all. After we do that, though, we will
16:31
Speaker 1: also be listening to a money question all about what
16:34
Speaker 1: the devil is happening in the stock market right now
16:36
Speaker 1: because a lot of us have noticed that spaceship, in particular,
16:40
Speaker 1: because we all have spaceship, a lot of.
16:41
Speaker 2: Us do have sped down it returns.
16:45
Speaker 1: Yes, So we're going to talk about what's going on
16:47
Speaker 1: there and if we should be worried spoiler, don't be
16:50
Speaker 1: worried exactly right before we do get their gals talk
16:56
Speaker 1: us through this Daily Mail article about holes.
17:00
Speaker 2: BASSI, well, would you like to know how it came
17:04
Speaker 2: to fruition? Because I didn't even know it was going
17:06
Speaker 2: to come to fruition. So the other night I was
17:10
Speaker 2: on TikTok and I saw this trend with this particular sound.
17:14
Speaker 2: And if you're not on TikTok and you've seen my video,
17:17
Speaker 2: the music that I'm singing to makes no sense, you'd
17:20
Speaker 2: be like, why did she pick that song and that
17:22
Speaker 2: text over the top of it. But essentially the video
17:26
Speaker 2: and the text I have chosen is all about equity,
17:29
Speaker 2: not equality in relationships. And I've said it on the
17:32
Speaker 2: pod before, and if you've listened to every single one,
17:34
Speaker 2: you would know that I am a firm believer in
17:37
Speaker 2: splitting expenses like rent with your romantic partner. We're not
17:42
Speaker 2: talking housemates here, with your romantic partner based on how
17:45
Speaker 2: much you earn, not just splitting it down the line
17:48
Speaker 2: in terms of fifty to fifty. So George, if you
17:51
Speaker 2: earn one hundred and fifty thousand dollars a year and
17:54
Speaker 2: I was on sixty thousand dollars a year, I personally
17:57
Speaker 2: do not think it is fair that we would just
18:00
Speaker 2: lit rent right down the middle, because it doesn't make
18:03
Speaker 2: sense in terms of equity in a relationship. And when
18:06
Speaker 2: I talk about equity, I'm talking about giving people the
18:10
Speaker 2: exact same tools and resources and opportunities to put themselves
18:15
Speaker 2: in the same position. We're not talking about like, oh,
18:18
Speaker 2: well it's fair, you pay half, I pay half. Yes,
18:21
Speaker 2: in a housemate situation, that would be it. Because George,
18:24
Speaker 2: if you and I live together, which that'd be a blast.
18:27
Speaker 2: I mean, you lived with my sister.
18:28
Speaker 1: It was a good time.
18:29
Speaker 2: I'm like the tidy version, maybe a little bit more boring,
18:32
Speaker 2: so you will probably have less fights. So if you're
18:35
Speaker 2: ever looking for housemate, hit me up. But my financial
18:39
Speaker 2: situation as your housemate is not your business, like and
18:43
Speaker 2: vice versa. Whatever you earn, you've agreed to pay your
18:47
Speaker 2: room's rent right or the house's rent. But if we're
18:50
Speaker 2: in a romantic relationship, I genuinely think that that changes,
18:53
Speaker 2: and that is something that we're meant to be working
18:56
Speaker 2: towards shared goals and shared visions. And the I posted
19:01
Speaker 2: this video and one thing led to another, and I
19:03
Speaker 2: had a cheeky glass of red wine on the couch
19:05
Speaker 2: and got very heated in my comments back to people
19:10
Speaker 2: made the Daily Mail.
19:11
Speaker 1: I have a couple of questions VEDI. Firstly, what's it
19:14
Speaker 1: like to be featured in the Daily Mail?
19:16
Speaker 2: Oh, it's actually really scary. It was a really nice article,
19:19
Speaker 2: like it was gorgeous. Whoever wrote that, thank you. Really
19:22
Speaker 2: appreciate the exposure for She's on the money. But sometimes
19:25
Speaker 2: you see it pop up as a notification in your
19:27
Speaker 2: email and you're like, oh, what do I done? This
19:31
Speaker 2: is scary, Like this is not googe, Like, no, not
19:35
Speaker 2: my vibe. But I do think it's a really topical
19:37
Speaker 2: conversation to be had because I'm a genuine believer in
19:41
Speaker 2: equity and relationships. But I was super surprised at some
19:44
Speaker 2: of the comments guys.
19:45
Speaker 1: Like I was, with the types of comments.
19:47
Speaker 2: Oh look, some of them were gorgeous. Some of them
19:50
Speaker 2: were like, oh my gosh, I wish I'd known about
19:52
Speaker 2: this earlier. Some of them were like, yes, I'm so
19:55
Speaker 2: for this. I've been doing this for years. One of
19:58
Speaker 2: them said, hey, Victoria, I just this video to my
20:01
Speaker 2: partner and he said, why aren't we already doing this?
20:03
Speaker 2: And I just think it's so awesome that we're having
20:06
Speaker 2: these money conversations and were viewing things in a way
20:09
Speaker 2: that gives us a lot of power, especially you know,
20:11
Speaker 2: we're not all women, but most women and most minority
20:15
Speaker 2: groups are already disadvantaged, so we're the ones that need
20:18
Speaker 2: the most empowerment to have these conversations. But on the
20:21
Speaker 2: flip side of me being like, oh my gosh, I'm
20:23
Speaker 2: so glad this content's resonating, there's always those few people
20:27
Speaker 2: that message you and say, oh my gosh, I work
20:29
Speaker 2: so hard and I shouldn't have to share my hard
20:32
Speaker 2: work with somebody else who doesn't work as hard. And
20:35
Speaker 2: I just was really shocked that people genuinely believe that
20:38
Speaker 2: in twenty twenty two, that potentially because you earn less money,
20:43
Speaker 2: you're working less hard and that is absolutely not the case.
20:47
Speaker 2: And I was just a bit like, man, your red
20:49
Speaker 2: flags showing, ooh, do you want to put that away?
20:52
Speaker 2: I don't know, it just felt wild.
20:54
Speaker 1: You're also in a partnership, so it's like, why are
20:56
Speaker 1: you acting as an individual? And I know everyone money
21:00
Speaker 1: differently and some do do it independently, but surely you'll
21:04
Speaker 1: have shared goals down the line that you're both working
21:06
Speaker 1: towards So wouldn't you want your partner, if they are
21:09
Speaker 1: earning less kind of to be in a better financial position.
21:13
Speaker 1: It's kind of a strange logic.
21:15
Speaker 2: Yeah, it's a very strange logic. And I've got a
21:18
Speaker 2: couple of messages and we will actually do a podcast
21:21
Speaker 2: on this, and Jess and George, you're in for it
21:22
Speaker 2: because I want to do a little bit of role
21:24
Speaker 2: playing in that episode. Will It sounds really lame, but
21:28
Speaker 2: I want you guys to throw questions at me saying well,
21:31
Speaker 2: I don't think that's fair, and then me respond and
21:34
Speaker 2: help empower you with those conversations, because that seems to
21:37
Speaker 2: be the number one question that said, well how do
21:40
Speaker 2: I bring this up in a relationship? Or my boyfriend
21:42
Speaker 2: thinks it's not fair and that he works really hard
21:44
Speaker 2: for his really high income and that I didn't go
21:47
Speaker 2: to UNI and therefore I don't deserve it, and that's
21:49
Speaker 2: not it. Like, equity comes in so many different shapes
21:52
Speaker 2: in a relationship, but it's not just financial. It could
21:55
Speaker 2: be tasks you're doing around the house, like domestic work.
21:58
Speaker 2: It could be childcare, it could be pet care, it
22:01
Speaker 2: could be literally looking after your partner and making them
22:04
Speaker 2: lunch if that's something you do. I'm not saying that
22:06
Speaker 2: every relationship is equal, but you do need to have
22:09
Speaker 2: a genuine conversation about what equity in a relationship looks like,
22:14
Speaker 2: because it's different for everybody. And it just seems so
22:17
Speaker 2: wild to me that, you know, if you're a high
22:20
Speaker 2: income earner, you would want your partner to be financially disadvantaged.
22:25
Speaker 2: And one of the messages I got, and I'm sure
22:27
Speaker 2: that there are other people that resonate with this, was
22:30
Speaker 2: from someone who said, this is really funny because I
22:33
Speaker 2: used to be the low income earner in my relationship
22:36
Speaker 2: by a lot, but I was the one who insisted
22:38
Speaker 2: on splitting everything fifty to fifty, even though their partner
22:42
Speaker 2: always said, oh, no, I'll pay more, It's okay. But
22:45
Speaker 2: this person was raised to be quote independent and never
22:49
Speaker 2: to ask for a man's money. So, and she said
22:52
Speaker 2: in quotation marks for her own pride, she never accepted
22:56
Speaker 2: what he offered or that he wanted to pay more,
22:58
Speaker 2: even though he truly earned triple what she was earning
23:03
Speaker 2: seven years into the relationship, and she still has a
23:05
Speaker 2: really hard time not feeling guilty when he pays for something.
23:09
Speaker 2: But then also harbors a lot of guilt when he
23:11
Speaker 2: suggests going on a holiday or something that she genuinely
23:14
Speaker 2: can't afford because she's trying really hard to pay fifty
23:17
Speaker 2: to fifty. And I think that the biggest thing for
23:20
Speaker 2: me that came out of this is your independence is
23:23
Speaker 2: not changed or quashed or nonexistent, because you want equity,
23:28
Speaker 2: because you want to be given the same opportunity as
23:31
Speaker 2: your partner to save, to invest, to put money aside
23:35
Speaker 2: so that you can go on a holiday, to go
23:37
Speaker 2: out for a coffee. And it just blows my mind
23:41
Speaker 2: that in twenty twenty two, we are actually still thinking
23:44
Speaker 2: that way. And I just want to say here and
23:46
Speaker 2: now before this podcast episode comes out, because it's going
23:48
Speaker 2: to be a few weeks off, because I really want
23:50
Speaker 2: to nail it, and I really want to put down
23:52
Speaker 2: all of my thoughts into one like little document, have
23:55
Speaker 2: a chat with George, have a chat with Jess, have
23:57
Speaker 2: a chat with the community about what they want from this.
24:00
Speaker 2: But I think it's really important to understand equity in
24:03
Speaker 2: a relationship and the fact that equity recognizes that every
24:07
Speaker 2: single person has different circumstances, and then it allocates the
24:11
Speaker 2: resources that those people have in line with what they
24:16
Speaker 2: need to achieve a desired outcome. It's not about saying yes,
24:20
Speaker 2: we need to pay fifty to fifty. It's about saying, yes,
24:23
Speaker 2: we both need equal opportunity. And from my perspective, I
24:27
Speaker 2: know I'm getting a bit ranty about this. I'm just
24:29
Speaker 2: genuinely so passionate about it. It just doesn't feel fair
24:32
Speaker 2: that if somebody's earning less money, they end up in
24:35
Speaker 2: a situation where they can't say, or they can't invest,
24:38
Speaker 2: or they can't feel empowered. Like it just makes no
24:40
Speaker 2: sense to me. What do you guys think. I not
24:43
Speaker 2: to be controversial, but I'll be controversial.
24:49
Speaker 3: I just think it's probably worth highlighting here. And I
24:52
Speaker 3: know that this is what you're getting at. But it's
24:54
Speaker 3: not as simple, I think as saying, oh, if you
24:57
Speaker 3: don't want to split things equitably, you don't want your
24:59
Speaker 3: past to succeed, Because.
25:01
Speaker 2: No, absolutely not. And I hope I'm not coming across
25:04
Speaker 2: like that. Oh my gosh, if I.
25:06
Speaker 3: Am, pull my head in because yeah, it's definitely really complicated.
25:09
Speaker 3: There's a lot of factors, you know, based on personal circumstance.
25:12
Speaker 3: A friend of mine, she works full time, she did
25:15
Speaker 3: two degrees. She's a doctor, and her partner has a
25:19
Speaker 3: more creative job, and part of his job something that
25:21
Speaker 3: he loves is the freedom that it gives him to
25:23
Speaker 3: work part times. So he has chosen to live at
25:26
Speaker 3: a greater level of work life balance for a lower income. So,
25:31
Speaker 3: for example, in that situation, if I was her and
25:33
Speaker 3: my partner turned around and said, hey, you know, based
25:36
Speaker 3: on the choices that you've made, you're earning a lot
25:38
Speaker 3: more than me. I want you to pay more than
25:41
Speaker 3: I am. And so it really is so dependent on
25:45
Speaker 3: your situation. I think as well. The things in my relationship,
25:49
Speaker 3: it's flipped. I'm the higher income earner. My partner is
25:52
Speaker 3: still studying love that this year he's literally on placement
25:58
Speaker 3: all yeah, so he's earning potential, not super swish. And
26:02
Speaker 3: for us, we split rent equitably because when we were
26:06
Speaker 3: looking there were things that were a priority to me
26:09
Speaker 3: that weren't important to him that would increase the cost
26:12
Speaker 3: of living. So I wanted a modern house, I wanted
26:15
Speaker 3: new appliances, whereas he would happily live in a house
26:18
Speaker 3: from the nineteen forties and not think twice about So.
26:20
Speaker 2: With Steve, like, I don't know how but they're cool
26:23
Speaker 2: with it.
26:23
Speaker 3: Yeah, they don't need a lot and that's great. And
26:25
Speaker 3: I was like, okay, well, I can see in this
26:27
Speaker 3: situation my choices are going to cost you more, and
26:29
Speaker 3: therefore I feel like it's my responsibility to cover the difference.
26:33
Speaker 3: But for things like bills and groceries, we split them
26:36
Speaker 3: equally because we're consuming them equally, and so I think,
26:39
Speaker 3: like it's it is a very complex situation. I think
26:42
Speaker 3: it's so important to be comfortable having those conversations. And
26:46
Speaker 3: it is again, as like the higher income owner, like,
26:48
Speaker 3: it is a conversation that we have regularly, and I say, hey,
26:51
Speaker 3: like how are you feeling about things like how are
26:54
Speaker 3: you doing financially? And we're probably a little more comfortable
26:56
Speaker 3: having those conversations because of the work that I do.
27:00
Speaker 3: But yeah, there's no one size fits all. Hey, it's
27:03
Speaker 3: quite hard, but it is definitely something that's worth understanding because,
27:07
Speaker 3: like that girl said, she didn't even know that it
27:09
Speaker 3: was an option that she could put on a table
27:11
Speaker 3: for discussion.
27:12
Speaker 2: Absolutely, and I think you've brought up a really really
27:15
Speaker 2: valid point here as well. Equity is not necessarily just money,
27:20
Speaker 2: as I said before, it could be other things. And
27:22
Speaker 2: if you've got this friend whose partner is prioritizing their
27:26
Speaker 2: work life balance, well that's part of their equity and
27:29
Speaker 2: the thing that they're getting out of that relationship. That
27:32
Speaker 2: doesn't necessarily mean that they get the cushy amount of
27:35
Speaker 2: rent because they're earning less income to have a better life.
27:38
Speaker 2: I think we really need to see this as an
27:40
Speaker 2: ongoing and consistently moving conversation that is very different for
27:43
Speaker 2: every single couple. And I think that that's where I'm like,
27:47
Speaker 2: Od's made it to the Daily Mail. It makes me
27:49
Speaker 2: look so black and white, and that I do believe
27:52
Speaker 2: that there's only one way of doing this, whereas you
27:54
Speaker 2: guys would know that that's not how she's on the
27:56
Speaker 2: money exists, that's not what that means, and that's not
27:59
Speaker 2: how this works. Because you could do that percentage thing
28:03
Speaker 2: and work it out and be like, all right, Jess,
28:04
Speaker 2: like you get to pay forty percent of rent and
28:06
Speaker 2: James gets to pay sixty percent of rent. That's the
28:09
Speaker 2: start point of the conversation. It's not the end point.
28:12
Speaker 2: It's not the outcome. It's the hey, is this fair?
28:15
Speaker 2: And you might go no, like that makes no sense
28:18
Speaker 2: for us, because I do abcdn e and he does this,
28:21
Speaker 2: and maybe one of you own the property, and that's
28:23
Speaker 2: a different conversation again, so I think it is very
28:26
Speaker 2: different for different couples. But I really want to introduce
28:29
Speaker 2: the concept of what I would call domestic socialism and say,
28:34
Speaker 2: all right, what does that actually look like for us?
28:36
Speaker 2: What is fair? What is equitable? Not necessarily what is equal,
28:40
Speaker 2: because a relationship is always about compromise, and it's about
28:44
Speaker 2: putting the other person first and you being able to
28:46
Speaker 2: be put first, and working together towards common goals. And
28:51
Speaker 2: just because someone's paying less rent doesn't mean that they're freeloading.
28:54
Speaker 2: I mean, if that's the case, there's probably a few
28:56
Speaker 2: red flags and we need to reevaluate our relationships. But
29:00
Speaker 2: you're right, Jess, I think we should be looking at
29:03
Speaker 2: this as the start point of a conversation, not the
29:05
Speaker 2: actual outcome, because there's so many more factors that play
29:08
Speaker 2: into it. But let's just have more money conversations more
29:12
Speaker 2: often with our partners. And if this is a really
29:14
Speaker 2: good trigger for you, go for it, like, use that
29:17
Speaker 2: as something that is going to empower you. But I
29:20
Speaker 2: think that the one thing that I do want to
29:22
Speaker 2: change is that mindset that just because you might be
29:26
Speaker 2: paying less doesn't make you any less independent.
29:28
Speaker 1: Good chat, girls, that was interesting. Loved your points, Chess.
29:32
Speaker 1: All right, so now let's take a listen to today's
29:35
Speaker 1: money question.
29:36
Speaker 4: My girls. My question is what is happening with this
29:39
Speaker 4: talk market lately? Things are going really really bad. It's
29:46
Speaker 4: scary to look at our spaceship raise and older. There'sment accounts,
29:52
Speaker 4: including cryptop everything's just going sand Libad was wondering, Victoria,
29:58
Speaker 4: could you explain to us what is going on? I'm
30:00
Speaker 4: guessing that the new Corvid waves has something to do
30:03
Speaker 4: with it, but maybe I who could help us to
30:06
Speaker 4: understand the situation? Then? What should we do to ride
30:10
Speaker 4: this wave and go through the current situation? What would
30:14
Speaker 4: be your general advice to help us to deal with
30:17
Speaker 4: this right now? Thank you so much, love to show.
30:19
Speaker 1: Okay, so this is a question that I have my
30:22
Speaker 1: selfie because I've noticed with my own spaceship account it's
30:26
Speaker 1: currently down three point twenty nine percent, and I have
30:30
Speaker 1: the same questions like what is happening? Should I be stressed?
30:33
Speaker 3: What are we doing?
30:34
Speaker 4: Like?
30:34
Speaker 2: What's the goal?
30:35
Speaker 3: It's not even just spaceship either, My spaceship is the same.
30:38
Speaker 3: But even a lot of my independent stocks that I
30:40
Speaker 3: hold are seeing a bit of red right now.
30:43
Speaker 2: Check that out. That is not something Jessica Bride she
30:45
Speaker 2: would have said twelve months ago her independent share portfolio, what.
30:50
Speaker 3: Look at me? Go No? But I'm sure there are
30:52
Speaker 3: a lot of people out there saying, oh my god,
30:54
Speaker 3: is it? Do I need to sell?
30:55
Speaker 1: Like?
30:55
Speaker 2: What do we do? No? No, we don't sell when
30:58
Speaker 2: the market is down. Need to remember that you lose
31:02
Speaker 2: money only when you crystallize that loss. And that's a
31:06
Speaker 2: very technical way of saying, you only lose money when
31:10
Speaker 2: you accept the amount of money that your share portfolio
31:14
Speaker 2: is worth right now, quite literally, you need to start
31:17
Speaker 2: thinking about a quote loss in the share market like
31:20
Speaker 2: you do about a property, like see it as property.
31:24
Speaker 2: If your property drops in value, you didn't lose any
31:26
Speaker 2: money because you didn't sell the property. Does that make sense?
31:30
Speaker 2: Unless you sell the property or you sell the share,
31:34
Speaker 2: that's when you lose money. So, George and jess if
31:36
Speaker 2: you're looking at your spaceship portfolios and thereof you haven't
31:40
Speaker 2: lost anything. It's just currently valued it less. And what
31:43
Speaker 2: that value is telling you is that if you decided
31:46
Speaker 2: to put all your money out today. That's how much
31:48
Speaker 2: money and how much of a loss you would be accepting. However,
31:52
Speaker 2: you're in the positions I know you're in the position,
31:54
Speaker 2: so I can talk to this quite easily. You're in
31:56
Speaker 2: the positions where you don't need that money right now
31:58
Speaker 2: from spaceship, so you have the benefit of time on
32:01
Speaker 2: your side to ride that wave out. Because we know
32:04
Speaker 2: that the share market has ebbs and it has flows,
32:07
Speaker 2: and it goes up and down over time. However, the
32:10
Speaker 2: longer you're in the share market, the more likely you
32:14
Speaker 2: are going to have a positive return. Like we know
32:17
Speaker 2: here in Australia that nobody, if they've invested in the
32:20
Speaker 2: Australian share market over a thirty year period, has ever
32:24
Speaker 2: lost money if they're buying the ASX top one hundred
32:28
Speaker 2: type shares. We're not talking about you know, I don't
32:31
Speaker 2: know what Jess is purchased, but like if you've gone
32:33
Speaker 2: rogue or Jess, I feel like you've potentially purchased shares
32:36
Speaker 2: because I'll be in the office being like, oh, I've
32:37
Speaker 2: bought this one. This seems really interesting. Is that how
32:40
Speaker 2: we've picked our shares, Jessicarici, not just.
32:43
Speaker 3: Based off but it's a contributing pattern.
32:46
Speaker 2: It had something to do with it. However, I think
32:49
Speaker 2: it's also really interesting to have a quick chat about
32:52
Speaker 2: the way the share market works. And we often see
32:55
Speaker 2: in the share market the start of the year be
32:58
Speaker 2: kind of like New Year, you me really perform really well. However,
33:02
Speaker 2: in twenty twenty two, we actually saw investors in the
33:05
Speaker 2: first week of January, which was kind of unprecedented. It's
33:09
Speaker 2: not the way the share market usually works. They were
33:11
Speaker 2: ditching all these fast growing technology companies like after pay
33:15
Speaker 2: in favor for like less hyped businesses, which is a
33:18
Speaker 2: really big change from twenty twenty one. As you guys know,
33:20
Speaker 2: we were talking about a lot of stocks like Tesla
33:23
Speaker 2: and after Pay, which I would say are fast growing
33:26
Speaker 2: technology companies, so they're currently being ditched. Really important to
33:31
Speaker 2: note that the recent falls are not just in tech
33:33
Speaker 2: stocks though, but also in other what they're calling pandemic
33:37
Speaker 2: era type consumer facing shares. So we're turning away from
33:41
Speaker 2: things that people really favored during the pandemic, like the
33:45
Speaker 2: big four banks and oil majors like BHP, and we're
33:49
Speaker 2: turning to things like industrial groups as they gain a
33:52
Speaker 2: little bit more I guess notoriety, and people are feeling
33:56
Speaker 2: a little bit more settled, and the share market is
33:59
Speaker 2: reacting by going down in value, not necessarily because those
34:03
Speaker 2: companies are worthless, but because so many people are selling
34:07
Speaker 2: off stocks. And as we know, the share market is
34:11
Speaker 2: driven by demand. So if a top at the shops
34:15
Speaker 2: is really really popular, the shop owner might go, huh ah, Jess,
34:19
Speaker 2: this is stupid. I'm just going to charge more for
34:21
Speaker 2: it because I only have ten of these each week
34:24
Speaker 2: to sell, so I'm just gonna put it up five
34:26
Speaker 2: bucks or up ten bucks. But if people are like, oh,
34:29
Speaker 2: that top's not in vogue anymore, they're going to have
34:32
Speaker 2: to put a discount on the share for more people
34:34
Speaker 2: to purchase it. So we're actually seeing the share prices
34:37
Speaker 2: come down, not because the companies are performing any differently,
34:40
Speaker 2: but because of share market hunger, because of the way
34:44
Speaker 2: our community is viewing it. Like it could be people
34:46
Speaker 2: like Jess and George being like, I want to own
34:48
Speaker 2: Telsa anymore. It'satitayday. That was twenty twenty one. I'm moving
34:51
Speaker 2: on it's twenty twenty two, and I want to buy
34:54
Speaker 2: something that's a little bit more consumer facing, Like that's
34:57
Speaker 2: what's going on at the moment. And I think it's
34:59
Speaker 2: really imp important to realize that it's not a sell
35:02
Speaker 2: off about Omicron and about COVID, because what we're seeing
35:06
Speaker 2: in the share market when it comes to COVID and
35:09
Speaker 2: Omicron is that it's actually eased in markets as companies
35:13
Speaker 2: are starting to reopen, Like people are a little bit
35:15
Speaker 2: more comfortable about how the pandemic impacts countries and how
35:19
Speaker 2: we're locking down, Like here in Australia, we now know
35:22
Speaker 2: what the COVID normal potentially looks like, Jess George, you've
35:26
Speaker 2: just been through this yourselves, and we were literally having
35:29
Speaker 2: this conversation off air where it's really strange how the
35:32
Speaker 2: goalposts have changed from being super locked down and like
35:36
Speaker 2: no COVID ever to all right, Jess George, all right,
35:39
Speaker 2: if you test negative, you can be out in the community,
35:41
Speaker 2: doesn't matter. If you've still got a bit of a
35:42
Speaker 2: lingering cough, don't worry about it. Like we're getting a
35:46
Speaker 2: little bit more comfortable with what that COVID normal world
35:49
Speaker 2: looks like, and that is translating to the share market,
35:53
Speaker 2: which means that COVID isn't impacting the share market as
35:56
Speaker 2: much as it was in twenty twenty and twenty twenty one,
35:59
Speaker 2: whereas now the share market's a bit more worried about inflation,
36:02
Speaker 2: and as you guys know, everyone's a bit like, well,
36:04
Speaker 2: what happens if interest rates increase? Like we're being a
36:07
Speaker 2: little bit more protective of that because we're being told
36:10
Speaker 2: that that's potentially happening, Like we're seeing the big banks
36:13
Speaker 2: talk about it. We are seeing that interest rates could
36:16
Speaker 2: go up if central bank policy changes. And I think
36:19
Speaker 2: that's what's potentially driving the share market a bit more
36:22
Speaker 2: than Omicron or Covid or you know, maybe people selling
36:26
Speaker 2: off Tesla. We are just seeing the share market react
36:30
Speaker 2: to what people's hunger for shares are at the moment
36:32
Speaker 2: and what that actually looks like. And when it comes
36:35
Speaker 2: to things like the interest rate, people are being conservative.
36:38
Speaker 2: They're getting rid of things that they don't think that
36:41
Speaker 2: they want to hold anymore. So does that kind of
36:43
Speaker 2: answer it a little bit? Yes, George questions open the floor.
36:47
Speaker 1: My friends really well said they're v and I feel
36:50
Speaker 1: like that does give a lot of context as to
36:51
Speaker 1: what is actually happening, because I feel like I just
36:54
Speaker 1: assumed it was something to do with COVID she'll be right.
36:56
Speaker 2: I think it all just Assuman's COVID now. And before
36:59
Speaker 2: this episode, I was like, guys, it's not COVID, and
37:01
Speaker 2: you're like, what, it's always.
37:03
Speaker 3: Sure it is, Victoria. So and I know that.
37:08
Speaker 1: You might not be able to answer this question because
37:10
Speaker 1: you're not a mind reader, So why are you asking?
37:12
Speaker 1: Or a reader of the future, I guess I should say,
37:15
Speaker 1: how long can we expect our portfolios to kind of
37:19
Speaker 1: be on this downward trend? Is it going to pep
37:22
Speaker 1: up anytime soon?
37:23
Speaker 2: I wish I could tell you, do you know what?
37:25
Speaker 2: I'd be so rich, like people would be calling me
37:28
Speaker 2: the next Warren Buffett if I could actually tell you
37:31
Speaker 2: what was going to happen. But interestingly enough, there is
37:34
Speaker 2: something called the January effect, and I alluded to this earlier,
37:38
Speaker 2: and it's usually quite I guess, pronounced in US stocks,
37:42
Speaker 2: not necessarily Australian stocks, but as we know, the global
37:46
Speaker 2: markets really do impact the Australian markets. And there's actually
37:50
Speaker 2: an old saying in the markets. When I say an
37:52
Speaker 2: old saying, like, you guys don't know what that saying is,
37:55
Speaker 2: but like old financial advisors say it, so it must
37:57
Speaker 2: be quite legitimate. And they say how January goes is
38:01
Speaker 2: how the rest of the year will pan out, which
38:03
Speaker 2: is kind of interesting and kind of negative, and I
38:06
Speaker 2: don't want to be on the podcast being like it's
38:07
Speaker 2: going to go down for the whole year, but essentially
38:11
Speaker 2: what the markets are saying and the whispers among all
38:14
Speaker 2: of my market update emails, which you guys know I'm
38:16
Speaker 2: obsessed with and read every single day, essentially alluding to
38:20
Speaker 2: saying that if January is down, then the market expectations
38:23
Speaker 2: will be down a year for the US stocks for
38:25
Speaker 2: twenty twenty two, which is kind of interesting. But even so,
38:29
Speaker 2: I do think that the market can increase in twenty
38:32
Speaker 2: twenty two. In saying that, I do think that there
38:35
Speaker 2: is a lot of room for the market to increase
38:38
Speaker 2: in twenty twenty two, and I wouldn't say that it's
38:40
Speaker 2: going to be a negative year. I feel like there's
38:42
Speaker 2: a lot of optimism, like people and countries are coming
38:45
Speaker 2: out of this omicron stuff, we're coming out of COVID,
38:48
Speaker 2: and I think that a lot more people are wanting
38:50
Speaker 2: to invest and create wealth and buy shares. So I
38:54
Speaker 2: just don't see it as consistently going down, especially given
38:58
Speaker 2: the ride that we've been on over the last three years.
39:00
Speaker 2: I feel like people who are a little bit more
39:02
Speaker 2: educated and a little bit more ballsy and a little
39:04
Speaker 2: bit less likely to go, oh my gosh, it will
39:07
Speaker 2: go down because January is down. But as I said,
39:09
Speaker 2: I can't predict it. I just like having these conversations
39:12
Speaker 2: and hopefully you guys like listening to them, because that's
39:15
Speaker 2: what we're here for.
39:17
Speaker 3: I saw a really cute post the other day and
39:18
Speaker 3: it said, when the stock market is down, your shares
39:21
Speaker 3: are on sale. So if you're wanting to buy, obviously
39:25
Speaker 3: not suggesting you would buy. You don't know if it's
39:27
Speaker 3: going to go up or down. We can't tell you
39:28
Speaker 3: what to do. But instead of thinking of it that way,
39:31
Speaker 3: maybe just think of it as a good time to
39:33
Speaker 3: if you're wanting to get on in there.
39:35
Speaker 2: Yes, literally, when the market is down, that is the
39:39
Speaker 2: point of maximum opportunity in the share market. And when
39:42
Speaker 2: the share market is really up and people are saying
39:44
Speaker 2: that it is a bull market, which means it's kind
39:46
Speaker 2: of like charging ahead, that's when there's the most risk.
39:50
Speaker 2: So Jess you're onto something. I think you should be
39:54
Speaker 2: the next Warren Buffett. It won't be made. It'll be
39:55
Speaker 2: Jesse free, she and her individual stock portfolio. All right, guys,
40:01
Speaker 2: I think that is all we have time for today.
40:05
Speaker 2: Just before we head off, though, we'd like to acknowledge
40:07
Speaker 2: and pay respect to Australia's Aboriginal and torrest Rade islander peoples.
40:11
Speaker 2: They're the traditional custodians of the lands, the waterways and
40:14
Speaker 2: the skies all across Australia. We thank you for caring
40:18
Speaker 2: and for sharing for the land on which we are
40:20
Speaker 2: able to learn. We pay respects to orders past and present,
40:23
Speaker 2: and we share our friendship and our kindness. See you
40:26
Speaker 2: next week, guys. Bye guys,