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FRIDAY DRINKS: Big Surprises, Bank Mergers & Spending Addiction! · She's On The Money

0:00
Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yr
0:04
Speaker 1: the Order Kerni Whoalbury and a waddery woman. And before
0:08
Speaker 1: we get started on She's on the Money podcast, I
0:11
Speaker 1: would like to acknowledge the traditional custodians of the land
0:14
Speaker 1: of which this podcast is recorded on a wondery country,
0:18
Speaker 1: acknowledging the elders, the ancestors and the next generation coming through.
0:23
Speaker 1: As this podcast is about connecting, empowering, knowledge sharing and
0:27
Speaker 1: the storytelling of you to make a difference for today
0:31
Speaker 1: and lasting impact for tomorrow.
0:33
Speaker 2: Let's get into it.
0:34
Speaker 3: She's on the Money, She's on the Money.
0:57
Speaker 2: Hello, and welcome to She's on Them the podcast for
1:01
Speaker 2: millennials who want financial freedom. Today is Friday, my Friends,
1:05
Speaker 2: which means it is time to sit back with the
1:07
Speaker 2: girls with a bevy in hand and unpack our favorite
1:10
Speaker 2: moments from the week, and of course, as always, to
1:13
Speaker 2: celebrate you how beautiful She's on the Money community. As always,
1:17
Speaker 2: we're going to be sharing our favorite money wins or
1:19
Speaker 2: Georgia King Wilbey. They will be chiming in intermittently. We'll
1:22
Speaker 2: discuss what's making news in the finance world and we're
1:25
Speaker 2: going to be helping to answer a very juicy money question,
1:27
Speaker 2: which this week is about a sneaky shopping addiction my
1:31
Speaker 2: friends relatable. But first it's time to recap the week
1:35
Speaker 2: that was Miss Jessegorid. She talked to us what happened
1:38
Speaker 2: on this week's money diary.
1:40
Speaker 4: This week's diarist was really interesting because she works in
1:43
Speaker 4: the sex industry, and she spoke to us a little
1:45
Speaker 4: bit about growing up and she lived in public housing
1:49
Speaker 4: and then she became a single mom and went through
1:52
Speaker 4: some challenges in terms of her finances that then she
1:55
Speaker 4: was able to mitigate at a relatively young age by
1:58
Speaker 4: entering the sex work industry.
2:00
Speaker 5: The thing that I found really interesting.
2:01
Speaker 4: About that was talking to her about what it's like
2:04
Speaker 4: balancing her work with being a mum of two kids,
2:08
Speaker 4: because obviously, in your head, do you go those are
2:10
Speaker 4: two things that would be kind of tricky to navigate,
2:13
Speaker 4: particularly because they're a little bit younger, And so it
2:16
Speaker 4: was really cool she was super open with us about
2:18
Speaker 4: what that looks like and how her lifestyle roles and
2:20
Speaker 4: how it was something that she kind of found and
2:24
Speaker 4: made work for her and what she wanted to do.
2:26
Speaker 2: I think the thing that really threw me the most
2:28
Speaker 2: about that episode is just how blacklisted sex workers are
2:32
Speaker 2: from you know, financial products and actually being able to
2:35
Speaker 2: have clean, clear bank accounts and use payment terminals and
2:39
Speaker 2: stuff like that, because they're seen as being really risky industries.
2:43
Speaker 2: And that just makes no sense to me, because at
2:45
Speaker 2: the end of the day, it's legal work here in Australia.
2:48
Speaker 2: Why wouldn't it be supported in the same way that
2:50
Speaker 2: I can go out and start, you know, a quote
2:52
Speaker 2: consulting business and generate whatever amount of money I want
2:56
Speaker 2: to put through that consulting business and in voice clients.
2:59
Speaker 2: Like arguable, I would have thought it was important to
3:02
Speaker 2: have that because it would keep them safer, right, like,
3:04
Speaker 2: less dealing with cash, more pre payment available, Like at
3:07
Speaker 2: this point, it just seems like that's a really fickle
3:10
Speaker 2: way to work.
3:11
Speaker 4: Someone dm US actually this week and said that, and
3:14
Speaker 4: I don't know that this makes it right, but they
3:16
Speaker 4: said it's often because the industry is linked closely to
3:20
Speaker 4: money laundering, and yeah, which I found super toper interesting.
3:23
Speaker 4: So thank you for damn House and sharing that. But
3:26
Speaker 4: I mean, ultimately to me, that says that they just
3:28
Speaker 4: need more regulation in that space, not necessarily being like
3:31
Speaker 4: you don't deserve payment terminals.
3:34
Speaker 2: Yeah, exactly, And as someone who does have a lot
3:36
Speaker 2: of sex worker clients, like they're making honest money, like
3:39
Speaker 2: they're paying tax, they have their incomes, they have their investments.
3:43
Speaker 2: Some of them are making absolute pain cause you've heard
3:46
Speaker 2: on this podcast before. But it just it baffles me
3:49
Speaker 2: that people like that, who you know, are technically earning
3:53
Speaker 2: an income, paying a lot of tax and contributing to society,
3:57
Speaker 2: they are just put in this basket of like, no,
3:59
Speaker 2: you can't have that because of the type of work
4:01
Speaker 2: you do. Yeah, but I'd argue that we need to
4:03
Speaker 2: do that coal mines and stuff. But that's not my circus,
4:06
Speaker 2: not my monkey. Georgia King, Hello, what happened on our
4:11
Speaker 2: Wednesday deep Dive?
4:12
Speaker 5: On Wednesday? It was our travel Saving Hacks episode, Ladies.
4:17
Speaker 5: It was a lot of fun picking your brain, Vikidi,
4:19
Speaker 5: because obviously the two of you very recently came back
4:21
Speaker 5: from Europe. You had so many hot tips and.
4:24
Speaker 2: We had we did nobody. But she was on the
4:28
Speaker 2: top and I was on the bottom. I'm not just
4:31
Speaker 2: top and tail. No, we did not. We're not that cheap.
4:33
Speaker 2: Like we cheap, but we're not that cheap. But turns
4:36
Speaker 2: out Jess outed me on Instagram this week as well,
4:38
Speaker 2: because it turns out she knew when I was awake
4:41
Speaker 2: in the bunk bed because I can't keep still, so
4:43
Speaker 2: I'd just like slip around, didn't wait everybody was away.
4:47
Speaker 5: Was like being on a ride, like I was on
4:49
Speaker 5: the top, like holding on.
4:51
Speaker 2: That is not true. But here I am thinking like,
4:54
Speaker 2: oh my gosh, I've woken up earlier because I'm usually
4:56
Speaker 2: the first one awake, right, Like I'm that annoying friend
4:59
Speaker 2: that's like, hey, good morning, thirty. What are you doing?
5:01
Speaker 2: Do you want to go out for coffee? And Jess
5:03
Speaker 2: would be like, go away, I'm not talking to you
5:06
Speaker 2: until it's at least eight o'clock and we've all gone
5:08
Speaker 2: out for coffee. But I'd be like, what are you doing?
5:11
Speaker 2: But I thought I was so good. I was like
5:14
Speaker 2: getting up in the morning thing quote really quiet and
5:16
Speaker 2: reading my book. And Jess is like, no, your long,
5:19
Speaker 2: deep size told me that you wanted to be out
5:22
Speaker 2: of it. I'm like, yeah, I did, though, Yeah, yeah,
5:25
Speaker 2: I did want to be out of.
5:26
Speaker 5: How good's traveling with you mates in Lusty?
5:29
Speaker 2: But we did.
5:29
Speaker 5: We learned many hot tips like sharing bunk beds. You
5:32
Speaker 5: told us that fun story about you and a wedding
5:34
Speaker 5: dress on public transport, Let's go with it. So, yeah,
5:38
Speaker 5: there was plenty of fun packed in there and lots
5:40
Speaker 5: of hot tips, so hopefully everyone got some ideas out
5:43
Speaker 5: of it.
5:44
Speaker 2: Be more chill than I am if you're going to
5:45
Speaker 2: share a room with friends, though, apparently would noise them
5:48
Speaker 2: or something. All right, George, let's move on from that.
5:51
Speaker 2: Is time to hear some of our budget direct money wins.
5:54
Speaker 2: What have you got to put on the table for
5:55
Speaker 2: us this week?
5:56
Speaker 5: Some pearlers as always, Girl is the first one comes
6:00
Speaker 5: from erin eight hundred dollar money in. I took my
6:03
Speaker 5: grandma to Bingo on Saturday and we walked out with
6:06
Speaker 5: a jackpot win.
6:07
Speaker 2: Yes quick, I went to Bingo recently. That's hard, Like
6:12
Speaker 2: I can't keep up and find the numbers and like
6:15
Speaker 2: I was like having my finger on one number while
6:17
Speaker 2: finding the next one, Like it just it was a lot.
6:19
Speaker 5: How good is that?
6:20
Speaker 2: Well? I didn't realize how like quick they move. I'm like, sir,
6:23
Speaker 2: I'm not ready, not for next number.
6:26
Speaker 5: The next one. It comes from Michelle. And this is
6:28
Speaker 5: kind of a PSA. It's a really smart idea money whin.
6:31
Speaker 5: I got rid of the tap and go function on
6:33
Speaker 5: my phone. Now I have to physically carry my wallet
6:36
Speaker 5: and remove my card to pay, which means there's an
6:39
Speaker 5: extra few seconds to make sure I'm happy with my
6:41
Speaker 5: purchase decision before I make it. How clever is.
6:44
Speaker 2: That wouldn't work for me. I'd still tap my cup.
6:46
Speaker 2: Why are you laughing?
6:47
Speaker 5: I forget my wallet on the reading.
6:49
Speaker 2: Yeah, not only does she just not bring her wallet places,
6:51
Speaker 2: she just leaves it places as all good. So like
6:54
Speaker 2: that's kind of helpful because like her phone is actually
6:57
Speaker 2: an extension of her arm. At this point, we know
6:59
Speaker 2: that won't go missing. But I don't think that would
7:02
Speaker 2: work for me, because like a card's just as convenient.
7:06
Speaker 4: I mean maybe if you need the physical reminder, like
7:08
Speaker 4: getting out of wallet is more symbolic than your phone,
7:11
Speaker 4: which for a lot of people, not just me, it's
7:13
Speaker 4: always in your hands.
7:14
Speaker 2: The thing that I found curbed my spending was actually
7:17
Speaker 2: using my phone to tap on things. When I use
7:19
Speaker 2: upbank and it tells you what your updated like total
7:23
Speaker 2: is in that account.
7:24
Speaker 5: Yeah, I love that.
7:24
Speaker 2: So it's like, oh, you spend five dollars, now you
7:26
Speaker 2: have four dollars left in your account, Victoria, It'd make
7:29
Speaker 2: me super aware of how much I had and what
7:31
Speaker 2: I was doing with my my weekly funds right, So
7:35
Speaker 2: to me that was helpful. I think the card actually
7:38
Speaker 2: gives me less visibility, and I hate seeing what my
7:40
Speaker 2: account's going down to, so I'm much less likely to
7:43
Speaker 2: tap Yeah.
7:44
Speaker 5: Later on in the show, we are going to be
7:46
Speaker 5: helping a person who's sent in a money to Lemma
7:48
Speaker 5: all about being a shopaholic, so I'm sure we'll have
7:50
Speaker 5: some more tips then.
7:52
Speaker 2: So what else you're gonna bring to the table, GQ.
7:54
Speaker 5: The next wind comes from Jess money Win. When I
7:57
Speaker 5: get paid on Wednesday, I'll finally be able to close
7:59
Speaker 5: my up to pay account. I didn't realize how little
8:02
Speaker 5: control I had over my money from being so very
8:04
Speaker 5: reliant on after pay Zippay is almost finished two. I'm
8:07
Speaker 5: so excited to be in control again. The next week
8:12
Speaker 5: it comes from Katie money Win. I just started shopping
8:15
Speaker 5: at Aldi based on the podcast recommendation, and I am
8:18
Speaker 5: saving it so much on almond milk and regular milk
8:20
Speaker 5: for my daughter. They do not have La Muele Rose
8:23
Speaker 5: in the US, though, Oh waking really we need to
8:27
Speaker 5: advocate for that.
8:28
Speaker 2: Audi, We're not going to work with you till you
8:30
Speaker 2: actually get that in store, because that's a travesty. Speaking
8:33
Speaker 2: of wine from Audi though, remember we did that collab
8:36
Speaker 2: with Unspoken Wines and they sent me some really nice
8:39
Speaker 2: red wines and we're like, yeah, cool, we'll do this.
8:40
Speaker 2: You shot some beautiful content for it. They sent me
8:43
Speaker 2: a box of six. That six is now gone. I
8:45
Speaker 2: now buy that pretty religiously from Audi because I would say,
8:48
Speaker 2: that's stephen my favorite wine. Thirteen bucks a bottle. What
8:52
Speaker 2: a money win.
8:53
Speaker 5: That's pretty good.
8:53
Speaker 2: Honestly, I would pay for that at the Wine by
8:56
Speaker 2: if I saw that on the list, I'd be like, yeah,
8:58
Speaker 2: well and no, I'm going to enjoy it. Yeah, very
9:00
Speaker 2: happy with that. But Audi, pick up your game. Get
9:02
Speaker 2: into the US. That is an untapped market. Some free
9:06
Speaker 2: business advice.
9:07
Speaker 5: From Feeding The next thing guys comes from Shellini money Win.
9:11
Speaker 5: For the first time ever, our bank accounts feel so lush.
9:15
Speaker 5: There's stuff.
9:17
Speaker 2: Lush is a very cute word from saying now.
9:20
Speaker 5: We used to struggle to keep any money saved and
9:22
Speaker 5: it just disappeared. But through doing all the hard mindset
9:25
Speaker 5: work and practical budgeting, this past year. We now have
9:28
Speaker 5: thirty five thousand dollars in our savings and a few
9:31
Speaker 5: thousand in other buckets. That's lush. Seeing that money is
9:34
Speaker 5: actually a bit triggering, So I do need to be careful.
9:37
Speaker 5: We don't self sabotage.
9:39
Speaker 2: Yeah, that's important. That's actually something we don't talk enough
9:42
Speaker 2: about when it comes to financial goals. Maybe we can
9:45
Speaker 2: chuck that on the list of things we talk about,
9:47
Speaker 2: because I am very guilty of self sabotage in general,
9:52
Speaker 2: ask Jess. But when it comes to finances, I feel
9:55
Speaker 2: sometimes I get so close to a goal and then
9:58
Speaker 2: I'll do something that it's in the way of that goal,
10:01
Speaker 2: and you don't mean to do it, but you're also
10:03
Speaker 2: arguably just really worried about what it means when you
10:06
Speaker 2: achieve that thing and you're just not ready for it.
10:08
Speaker 2: That has big, deep dive energy. Yeah, I think, so
10:11
Speaker 2: let's do it. Jess is going to put it on
10:13
Speaker 2: the list for us. Perfect, all right.
10:14
Speaker 5: The next win comes from Bernadette, a money mindset win.
10:17
Speaker 5: This was the first year I haven't immediately spent my
10:20
Speaker 5: tax return on something I didn't need. I put it
10:22
Speaker 5: into my savings account instead.
10:25
Speaker 2: How good's that? That is the best thing I've ever heard.
10:27
Speaker 5: Right, the final win of the day. It comes from
10:30
Speaker 5: Caitlin and it is wholesome. Money lost but life win.
10:34
Speaker 5: I used to live five minutes away from work, which
10:36
Speaker 5: was great for my fuel, but it meant only getting
10:38
Speaker 5: five minute increments of the Shees on the Money podcast
10:41
Speaker 5: in Now I live fifteen minutes away from work, which
10:43
Speaker 5: for me means more Shees on the Money podcast time.
10:47
Speaker 5: Sure there's more money spent on fuel, but hey, now
10:49
Speaker 5: there's more time being able to learn and absorb money
10:52
Speaker 5: information from thee.
10:55
Speaker 2: That is wholesome.
10:56
Speaker 5: That's my safe But I'm Caitlyn.
10:58
Speaker 2: How is it that there some people around Australia that
11:02
Speaker 2: have us in their ears when they're going to work.
11:04
Speaker 5: If you're going to work, I hope you have the best.
11:08
Speaker 2: Before we get to a break. Usually we throw to
11:10
Speaker 2: a break here. I actually have a money win for
11:12
Speaker 2: the community that I tried to share with my family,
11:15
Speaker 2: and my sister was like, yo, Udi knew, But I
11:17
Speaker 2: don't think everybody knows. So if you uady knew, then
11:20
Speaker 2: that's fine. You're two steps ahead of me. But last
11:23
Speaker 2: year you might have heard of the two hundred and
11:25
Speaker 2: fifty dollars Power Saving Bonus, and that's where if you
11:28
Speaker 2: had that concession card or you had some kind of
11:30
Speaker 2: sentlink entitlement, you could upload one of your energy bills
11:33
Speaker 2: and get two hundred and fifty bucks towards it, which
11:35
Speaker 2: is a money win. It's not even credit, it's actual
11:38
Speaker 2: cash that they deposit in your account. Right, so that
11:41
Speaker 2: was a money win last year. Guess what they've brought
11:44
Speaker 2: it back, but no criteria this time. All you have
11:48
Speaker 2: to be doing is be a bill payer. So Jesse,
11:51
Speaker 2: have you already done it?
11:52
Speaker 5: Done it? Cash is in my bank account.
11:54
Speaker 2: Gene is two hundred and fifty dollars rules that if
11:57
Speaker 2: you haven't gone and submitted your energy bill to the
12:00
Speaker 2: Power Saving Bonus, which is a payment scheme for I'm
12:02
Speaker 2: sorry if I've hyped you up, and then I'm going
12:05
Speaker 2: to tell you it's Victorian households only, but it exists
12:08
Speaker 2: to help ease the cost of living pressures and encourage
12:10
Speaker 2: you guys to compare energy offers and save money, which
12:12
Speaker 2: I think is a massive money win. But George, you
12:15
Speaker 2: know my little sister Alex quite well certainly needs to
12:18
Speaker 2: live with her, so we all know she can be
12:20
Speaker 2: a bit of a pest. I sent it to my
12:22
Speaker 2: family group chat, being like, I'm gonna help my sister out.
12:24
Speaker 2: I'm gonna get my parents another two hundred and fifty
12:26
Speaker 2: dollar rules. I'm going to be the favorite child this week. Sure,
12:29
Speaker 2: send it to group chat and Dad's like yeah, great, no, no, Race,
12:31
Speaker 2: thanks so much, And my sister replies like, I already
12:33
Speaker 2: did it. Thanks for sharing with everybody else.
12:36
Speaker 5: We need selfish little girl.
12:39
Speaker 2: Little sisters. They're a different breedge. So it's been great
12:42
Speaker 2: celebrating some of your budget Direct money wins and some
12:45
Speaker 2: of our own and one that is going to absolutely
12:47
Speaker 2: benefit you. So go and submit your energy bills asap.
12:51
Speaker 2: Budget Direct winner of can Stars Insurer of the Year
12:54
Speaker 2: Award twenty twenty two. Budget Direct Insurance Solved. Now we're
12:58
Speaker 2: going to go to a quick break, but stick around
13:00
Speaker 2: because after this we're going to talk a little bit
13:01
Speaker 2: about the merger of Sun Corp and A and Z
13:04
Speaker 2: and we're going to be answering a money dilemma all
13:07
Speaker 2: about someone who has a sneaky little shopping addiction. Don't
13:10
Speaker 2: go anywhere, all righty guys.
13:16
Speaker 4: There has been lots of chatter on the internet this
13:19
Speaker 4: week because as you said before, vd A and Z
13:22
Speaker 4: has agreed to buy sun Corps banking business for four
13:25
Speaker 4: point nine billion dollars. If you don't want that is
13:29
Speaker 4: more delarues than I could ever comprehend. But lots of
13:32
Speaker 4: people talking about it for different reasons, and I know
13:35
Speaker 4: you have your own thoughts on this fee. My immediate
13:38
Speaker 4: question is why would they do this because to me,
13:42
Speaker 4: I mean, you're a bank, they're a bank. It doesn't
13:46
Speaker 4: make much sense for me for them to acquire them
13:47
Speaker 4: outside of the fact that they want more customers. But
13:50
Speaker 4: ultimately that seems like a terrible thing for consumers.
13:53
Speaker 2: I mean for the bank. It's a growth strategy, right, Like,
13:56
Speaker 2: there are a few ways that you can grow as
13:58
Speaker 2: a business. Firstly, there are lots of ways, but like,
14:01
Speaker 2: let's call it very simple. First, there's or gadancre growth
14:03
Speaker 2: where you know, word of mouth happens, or you do
14:06
Speaker 2: some advertising and you get some new customers, and that
14:08
Speaker 2: usually is a bit of a long slog, right Like,
14:10
Speaker 2: you know, your community slowly grows and you get more
14:12
Speaker 2: and more customers over time. The second way you can
14:15
Speaker 2: grow is by acquisition, which is purchasing another business and
14:18
Speaker 2: rolling them in and Therefore you get not only the customers,
14:21
Speaker 2: which would be the biggest draw card, but you also
14:23
Speaker 2: get the staff and the team that looks after that
14:26
Speaker 2: because one of the things, you know, Jess, I think
14:28
Speaker 2: you'd lose your mind if I turned around and said
14:30
Speaker 2: I bought another business to roll into Shees on the money,
14:33
Speaker 2: because I keep doing that in Zella and it's already
14:35
Speaker 2: making you lose your mind. But in She's on the money,
14:38
Speaker 2: if I did that, we just don't have the capacity
14:40
Speaker 2: to look after more things, right, Like we don't have
14:43
Speaker 2: enough staff. So the benefit of acquiring a whole other
14:46
Speaker 2: business is you don't just get the customers, but you
14:49
Speaker 2: get the talent looks after the customers, right. But my
14:52
Speaker 2: question is how many of those talent are going to
14:55
Speaker 2: be negatively impacted? Because when you look at it, Sun
14:58
Speaker 2: Corp has thirteen thous staff across Australia. However, are you
15:03
Speaker 2: really going to need another thirteen thousand staff? Like A
15:06
Speaker 2: and ZED would already have a marketing department. A and
15:08
Speaker 2: ZED would already have a procurement department, Like do you
15:11
Speaker 2: need two of this? Do you need two CEOs? Do
15:14
Speaker 2: you need two cmos?
15:15
Speaker 1: Like?
15:15
Speaker 2: How does that work?
15:17
Speaker 6: Over?
15:17
Speaker 2: Time.
15:18
Speaker 4: If two businesses roll together and let's say mass layoffs happen,
15:21
Speaker 4: which seems pretty probable, is that a redundancy or is.
15:25
Speaker 2: That yeah, they would be made redundant, which is essentially
15:29
Speaker 2: like saying, hey, Georgia, like, we no longer have a
15:32
Speaker 2: place in the business for your role. It's not needed.
15:35
Speaker 2: And what happens in that circumstance, especially in a bigger company,
15:38
Speaker 2: is they do their restructure first, which means they organize
15:41
Speaker 2: their organizational chart, but they don't allocate individuals to that.
15:45
Speaker 2: They say, okay, cool, let's, you know, in a perfect world,
15:48
Speaker 2: map out what this business looks like. And they might
15:50
Speaker 2: look at the accounting department and go, okay, we need
15:52
Speaker 2: a head, we need this, many accountants, we need this,
15:55
Speaker 2: many admin staff, we need all of this to do
15:58
Speaker 2: this amount of workload. Then they go and look at
16:01
Speaker 2: the talent that they have, and they will allocate talent
16:04
Speaker 2: to that organizational chart. So they might go, oh, g King,
16:06
Speaker 2: you're a really good head of accounting, so we're going
16:09
Speaker 2: to pop you tentatively in that role, and then we
16:12
Speaker 2: are going to you know, fill out all the roles.
16:14
Speaker 2: And if they have double ups, they might make people
16:17
Speaker 2: apply for it and go, oh, Ge and Jess like
16:19
Speaker 2: you both might be able to do that. How about
16:21
Speaker 2: you both apply for this and we'll go through a
16:24
Speaker 2: round of interviews and see who makes it. The person
16:26
Speaker 2: who makes it keeps the job. The other person gets
16:28
Speaker 2: made redundant, which.
16:30
Speaker 5: Is as terrifying I just like it.
16:33
Speaker 2: Yeah, for a lot of people, redundancy is terrifying, especially
16:39
Speaker 2: going into a recession like we're headed into a period
16:43
Speaker 2: of time where securing employment is not going to be
16:45
Speaker 2: very easy. But I'm sure that there are actually a
16:48
Speaker 2: fair few people It's unclepool and year redundancy. I've been
16:51
Speaker 2: here for ten plus years. I'm going to make bank
16:54
Speaker 2: because you know, not to make this a good thing,
16:56
Speaker 2: because I actually don't believe it's a good thing. And
16:58
Speaker 2: I'll get into it in a hot second out Why However,
17:01
Speaker 2: when you get made redundant, your redundancy is applicable for
17:05
Speaker 2: the amount of time that you will with the business
17:07
Speaker 2: at your current rate of pay. So say you came
17:10
Speaker 2: in as a graduate and then you've worked your way
17:13
Speaker 2: up to you know, having one hundred thousand dollar income,
17:16
Speaker 2: and you're now really well off. That one hundred thousand
17:18
Speaker 2: dollar income would apply to your redundancy package, not what
17:22
Speaker 2: you earned as a graduate. You might have earned thirty
17:25
Speaker 2: eight thousand or forty five thousand as a graduate and
17:27
Speaker 2: you might go, oh, I didn't earn much back then.
17:29
Speaker 2: The benefit for most redundancies is that one hundred grand,
17:32
Speaker 2: if you've worked for ten years at that company, is
17:35
Speaker 2: actually going to look like a pretty healthy payout. So
17:38
Speaker 2: there might be some people at Suncorp if this is
17:40
Speaker 2: going to happen, that are like George. They're like, I
17:42
Speaker 2: want Jess to get it. Jess, you can have the job.
17:44
Speaker 2: I want the payout and I'll go find a new
17:46
Speaker 2: job because I'm ready to move on and I'd love
17:48
Speaker 2: the extra, you know, one hundred grand in my bank account.
17:51
Speaker 5: Yeah right? So is this be linked to the recession?
17:55
Speaker 1: Like?
17:56
Speaker 5: Are we going to see more business is doing this?
17:58
Speaker 5: Why is this important for us? Understand?
18:00
Speaker 2: Look, it's not from my perspective at this point in time,
18:03
Speaker 2: with the information that I have available to me, it's
18:06
Speaker 2: not linked to the recession. I think that A and
18:08
Speaker 2: Z is looking at it as a really good growth
18:10
Speaker 2: strategy to get into Queensland. Suncorp is a predominantly Queensland
18:14
Speaker 2: business down here in Melbourne. You guys might have heard
18:16
Speaker 2: of it, but you probably definitely don't bank with them
18:19
Speaker 2: because it's not as accessible as it is in Queensland. Oras.
18:22
Speaker 2: In Queensland, that's the market that A in Z doesn't
18:24
Speaker 2: have as many branches. This enables them to access all
18:28
Speaker 2: of those customers. And Queensland is actually the fastest growing
18:31
Speaker 2: economy at the moment in Australia, which is kind of cool,
18:34
Speaker 2: due to trade and development and you know, Brisbane is
18:38
Speaker 2: really picking up. Whereas historically we used to always talk
18:40
Speaker 2: about the business centers of Australia being Sydney and then Melbourne.
18:44
Speaker 2: Queensland is really starting to give us all a bit
18:46
Speaker 2: of a run for our money with how much growth
18:48
Speaker 2: and economic stability they're being afforded. So I think it's
18:51
Speaker 2: a good thing when you look at it from you know,
18:54
Speaker 2: a bird's eye view and go okay, cool, Like ain
18:56
Speaker 2: Zed is a big bank. They might want to grow
18:58
Speaker 2: and have this growth strategy that they're trying to implement,
19:01
Speaker 2: and one way to do it, as we said before,
19:03
Speaker 2: is acquisition. And so they've looked at a similar business
19:06
Speaker 2: and going all right, well they're another bank, they're smaller
19:09
Speaker 2: than us. We would get access to a demographic that
19:12
Speaker 2: we don't currently have access to them. It might feel
19:14
Speaker 2: like a no brainer and they go, all right, no problems,
19:17
Speaker 2: let's progress this deal. However, sun Corb and ain Z
19:21
Speaker 2: have a bit of a history, from my perspective, of
19:24
Speaker 2: always putting profit before people. So do we actually want
19:27
Speaker 2: these two banks to come together which results in less
19:31
Speaker 2: competition in the marketplace when it comes to things like
19:33
Speaker 2: home loans and with inflation and home loan prices going up,
19:37
Speaker 2: do we really want less options? And is that actually
19:40
Speaker 2: putting consumers first as you alluded to before, Jess.
19:42
Speaker 5: Yeah, that's kind of what I was gonna say.
19:44
Speaker 4: Is to me, I can see why, like you said,
19:46
Speaker 4: as a business growth strategy, great for them, but for
19:49
Speaker 4: the everyday person, it seems like this isn't the first
19:53
Speaker 4: bank acquisition that's happened over the last few years. It
19:56
Speaker 4: really feels like all of the little guys are being
19:58
Speaker 4: swallowed up by the big four. And ultimately, does that
20:02
Speaker 4: mean that we're not really going to have as much
20:05
Speaker 4: competition in the market as we need and it's going
20:07
Speaker 4: to become a little bit of not quite a monopoly
20:09
Speaker 4: because there's more than one. But if A and Z
20:12
Speaker 4: are in Suncorp, and Suncorp continues to trade, but it's
20:14
Speaker 4: a subsidiary of A and Z. Does that mean that
20:17
Speaker 4: really the deal that you're going at Suncorp is not
20:19
Speaker 4: going to be that different from the deal that you
20:20
Speaker 4: get at A and Z even though they exist in
20:22
Speaker 4: the same space.
20:23
Speaker 2: Look, it's hard to say. I think going into you know,
20:26
Speaker 2: the economic period that we're about to experience, more competition
20:30
Speaker 2: is always better, so it puts consumers first. However, often
20:34
Speaker 2: and you see this, like let's use the example of
20:37
Speaker 2: when NAB quired U Bank, Right, they actually operate relatively independently.
20:41
Speaker 2: I mean they have crossover in teams internally, and like
20:44
Speaker 2: that all makes sense because why I have double ups. However,
20:47
Speaker 2: they do have different offerings, right, Like when you look
20:50
Speaker 2: at their mortgage products, like U Bank has a more
20:53
Speaker 2: simplistic mortgage product with a lower interest rate. Usually don't
20:56
Speaker 2: quote me on that in this current market. I haven't
20:58
Speaker 2: looked at the moment, but they usually have a lower
21:00
Speaker 2: interest rate. And that's because there's less bells and whistles
21:03
Speaker 2: on their mortgage products, right, so they don't have access
21:06
Speaker 2: to things like offsets at this point in time. I
21:08
Speaker 2: know they're working on it and they will build that
21:10
Speaker 2: up and you know, have that as an offering. But
21:12
Speaker 2: often they do like having the two different products because
21:16
Speaker 2: they attract two different markets, right Like Jess, you might
21:19
Speaker 2: be going for the lowest interest rate and you don't
21:20
Speaker 2: care about the bells and whistles, and then I might
21:23
Speaker 2: be going for a different product and my priority is
21:26
Speaker 2: an interest rate, because to be honest, my priority when
21:28
Speaker 2: I got my mortgage was an interest rate. It was
21:31
Speaker 2: having as many offset accounts as possible so I could
21:34
Speaker 2: make my money work really hard for me. So we
21:36
Speaker 2: might all have different priorities. And I think that from
21:39
Speaker 2: a business perspective, it can be quite smart having two
21:43
Speaker 2: competing products that you know, stay relatively independent. But is
21:47
Speaker 2: that truly competition if they're owned by the same big dog.
21:51
Speaker 2: Like I like the idea of more flexibility and more
21:54
Speaker 2: opportunity in the marketplace, especially when it comes to being
21:57
Speaker 2: able to refinance home loans and banking and whatever you
22:00
Speaker 2: want to do at this point in time, going into
22:02
Speaker 2: a pretty tumultuous time like it just makes sense.
22:06
Speaker 5: So you mentioned earlier V that there's likely to be
22:09
Speaker 5: big redundancies in this whole piece what happens there.
22:12
Speaker 2: Well, I think it's interesting because the CEO of A
22:16
Speaker 2: and Z, Shane Elliot, has come out and said, guys,
22:19
Speaker 2: don't worry, We're not going to have any net job
22:21
Speaker 2: losses over the next three years, because he's trying to
22:24
Speaker 2: make people feel really comfortable, like, don't worry ge with
22:27
Speaker 2: this merger, like we're not going to make you lose
22:28
Speaker 2: your job. But to me, that just says that you're
22:32
Speaker 2: sitting ducks for three years, and after those three years,
22:35
Speaker 2: that really means that there's basically no future for thousands
22:39
Speaker 2: of people who are currently working in Queensland. After that
22:42
Speaker 2: three years, it's up. So from my perspective, I think
22:45
Speaker 2: it's probably a good time for people to be a
22:47
Speaker 2: little bit critical.
22:48
Speaker 5: Like, as I said before I googled it.
22:50
Speaker 2: Thirteen thousand stuff, like, that's a lot of stuff to
22:54
Speaker 2: in three years. Potentially, let's you know, extrapolate this out
22:58
Speaker 2: and be a little bit dramatic, because sometimes have to
23:00
Speaker 2: be dramatic to find an outcome that puts you, guys
23:02
Speaker 2: in the best possible position. But what happens in three
23:05
Speaker 2: years if thirteen thousand people lose their jobs at one
23:08
Speaker 2: bank and they all have banking experience, where are they going?
23:12
Speaker 2: What types of jobs are you going to work in?
23:14
Speaker 2: Because arguably, you know, I use marketing as an example
23:18
Speaker 2: because I feel like I talk to marketing companies all
23:20
Speaker 2: the time. But what if you have experience in marketing, great,
23:24
Speaker 2: no problems, You can probably move into a similar role
23:27
Speaker 2: at another bank or another corporate. Your experience might be
23:29
Speaker 2: quite transferable. What if you're a private banker, What if
23:32
Speaker 2: you're a broker, What if you have specific bank experience
23:36
Speaker 2: that doesn't easily translate to another industry, what's going to happen.
23:40
Speaker 2: There's going to be a heap of competition for all
23:43
Speaker 2: these other jobs and a whole heap of people who
23:45
Speaker 2: can't get jobs. So I think that makes me feel
23:47
Speaker 2: a little bit icky and makes me go, all right, well,
23:50
Speaker 2: I know he said three years, and that's nice of him,
23:53
Speaker 2: But that also means that we've got a timeline of
23:56
Speaker 2: three years to work out where you want to be
23:58
Speaker 2: and whether your role is still going to exist. For
24:00
Speaker 2: a lot of people, that would be really really stressful
24:04
Speaker 2: and you know, making some grand assumptions. Often in banking,
24:08
Speaker 2: you have a higher tenure, so people are more likely
24:10
Speaker 2: to stick around you know, I know millennials have an
24:13
Speaker 2: average tenure these days of about eighteen months in a role. However,
24:17
Speaker 2: in banking that's closer to five years. Like you usually
24:20
Speaker 2: stick in a job five years, if not ten, if
24:22
Speaker 2: not twenty, like you often see people who have career
24:25
Speaker 2: jobs at banks, and you know, again making a grand assumption.
24:28
Speaker 2: In Queensland, that could be even more true because there's
24:32
Speaker 2: less job opportunities, or there were less job opportunities, you know,
24:36
Speaker 2: ten twenty years ago, So maybe people have stuck that out.
24:39
Speaker 2: What are they going to do about their roles? What
24:41
Speaker 2: are we going to do about the branches you know
24:43
Speaker 2: in more remote locations that then are completely redundant. What
24:47
Speaker 2: are those people doing? So I think it makes me,
24:50
Speaker 2: makes me a little bit stressed, and it doesn't make
24:52
Speaker 2: me so excited about it, Like I just think it's
24:54
Speaker 2: bad for jobs, it's bad for competition. I don't think
24:57
Speaker 2: it's a good thing in the long term, and it
24:59
Speaker 2: just ma makes me wonder, like what's going on. But
25:02
Speaker 2: the Treasurer Jim Chalmers has actually come out and said
25:06
Speaker 2: that he is going to call on the A Triple
25:08
Speaker 2: C to reject the deal because he just thinks it's
25:10
Speaker 2: such a bad thing that it shouldn't go through and
25:13
Speaker 2: A and Z should not be able to incorporate with
25:15
Speaker 2: Suncorp because he thinks it puts consumers in that bad
25:18
Speaker 2: of a position. So it's not just me going hey,
25:20
Speaker 2: I don't think this is right, like just from what
25:22
Speaker 2: I've been reading and how I see it, Like our
25:24
Speaker 2: literal treasurer, he's turning around and going, nah, a triple
25:28
Speaker 2: C put a stop to this. I don't think it's kosher.
25:30
Speaker 5: How big of a deal is that?
25:32
Speaker 4: Like how often would the treasure step in and make
25:34
Speaker 4: a comment like that?
25:34
Speaker 2: That's pretty big because as much as both of those
25:37
Speaker 2: companies so A and Z and SUNCRT Bank are both
25:40
Speaker 2: listed companies on the ASX, Like how often does the
25:43
Speaker 2: Australian Treasurer get involved in business dealings? Like how does
25:47
Speaker 2: that work? Like what if Lareol wanted to acquire another
25:50
Speaker 2: makeup business and you were like, oh, they do they
25:53
Speaker 2: test on animals? Like are you going to turn around
25:55
Speaker 2: and have the Treasurer stop that? Like obviously he's assuming
25:58
Speaker 2: that there will be some pretty big economic impacts if
26:01
Speaker 2: that does happen. Otherwise why would he try and bar It'd.
26:05
Speaker 4: Be interesting to see if the age will see responds
26:07
Speaker 4: and if they do put a stop tootter, if they
26:09
Speaker 4: put limitations on it, or what that ends up looking like.
26:11
Speaker 2: I think it'll be an interesting one to follow, and
26:13
Speaker 2: I'm glad you brought it up for today because I
26:15
Speaker 2: think a lot of people in our community would be like, beh,
26:18
Speaker 2: I don't care about understanding like this an z Suncorp. Thing.
26:21
Speaker 2: It doesn't make sense, but when you get into the
26:23
Speaker 2: nitty gritty of it, you're like, wow, this could really
26:25
Speaker 2: impact our community, Like this could really impact a lot
26:27
Speaker 2: of jobs in Queensland. It could really impact a lot
26:30
Speaker 2: of people our age. And I just think it's so
26:33
Speaker 2: important to discuss these topics in a way that doesn't
26:35
Speaker 2: feel as formal as when I read it on the
26:37
Speaker 2: Financial Review right, like just you're not gonna go be
26:39
Speaker 2: like oh, I can't wait to read about this, Like
26:41
Speaker 2: it just sounds like a bland topic until we start
26:44
Speaker 2: breaking it down and going, well, George, this is what
26:46
Speaker 2: it means and this is how it works.
26:48
Speaker 5: Good chat, ladies, little bland. Not gonna lie about it.
26:51
Speaker 5: Do you know what's not planned money dilemmas? Let's have
26:54
Speaker 5: a listen, hi, bet have you got a money dilemma
26:58
Speaker 5: you just can't solve. The Shees on the Money team
27:01
Speaker 5: is here to help. Every week, we tackle your dilemmas,
27:04
Speaker 5: both big and small, to answer your most burning money,
27:06
Speaker 5: career and life questions. To get involved, simply head to
27:10
Speaker 5: our website and leave us a quick voice recording and
27:12
Speaker 5: you may just find yourself on the show. Now, let's
27:15
Speaker 5: take a listen to today's money dilemma.
27:18
Speaker 6: Hi guys, So my name is Erin and I am
27:22
Speaker 6: definitely a shopaholic. I have always been really bad with
27:26
Speaker 6: my money in that I get very tempted with clothing
27:29
Speaker 6: and I really like buying clothes and using things like
27:33
Speaker 6: after pay. I was just wondering what would be your
27:36
Speaker 6: biggest tip to help me stop this addiction of online
27:40
Speaker 6: shopping and using after pay, because I feel like it's
27:43
Speaker 6: getting a little bit silly and I don't want to
27:46
Speaker 6: be in debt for the rest of my life.
27:48
Speaker 4: I would say, firstly, if it is like, if it's
27:51
Speaker 4: genuinely the point where it's impacting your life super significantly,
27:55
Speaker 4: cool eference the National Debt Help Line.
27:56
Speaker 5: Of course, they're a free service.
27:58
Speaker 4: They have really great financial counselors, they have people who
28:01
Speaker 4: will be able to help you sort things out. But
28:03
Speaker 4: more broadly, I feel like we've all probably got some
28:05
Speaker 4: good little, some little tips for you if you are
28:08
Speaker 4: having trouble raining your spending in I would say something
28:12
Speaker 4: that I see people doing actually in the Facebook group
28:14
Speaker 4: a lot when you do use these buy and now
28:16
Speaker 4: pay later services, is adding up your lifetime amount. I
28:20
Speaker 4: think you might actually be able to key. You might
28:22
Speaker 4: not actually see it in the app somewhere, depending on
28:24
Speaker 4: what platform you use. But the reason that these platforms
28:28
Speaker 4: are so addictive is because you don't really fully feel
28:31
Speaker 4: the impact of what you're spending. And sometimes we need
28:34
Speaker 4: a little bit of a kick up the tush to
28:36
Speaker 4: get us going in the right direction. And seeing that
28:39
Speaker 4: you've spent ten thousand dollars over the course of two
28:41
Speaker 4: years would arguably do.
28:43
Speaker 5: That for you in my opinion one hundred percent. I
28:46
Speaker 5: would add to that and say, unfollowing brands on social
28:49
Speaker 5: media and influencers who influence you would be a really
28:52
Speaker 5: good idea. If you can't see it, you don't want it.
28:54
Speaker 5: Subscribing to marketing emails, all of that, just see she's
28:57
Speaker 5: on the money, always exactly that that email. But also
29:01
Speaker 5: I would say actually dedicating money in your budget. Set
29:04
Speaker 5: up a budget and understand your cash flow if you
29:06
Speaker 5: don't already, and then dedicate money in your spending to
29:10
Speaker 5: put towards frivolous spends or shopping or whatever it may be,
29:14
Speaker 5: so then you don't feel that guilt and even like,
29:17
Speaker 5: so you don't restrict yourself and then end up binging
29:19
Speaker 5: or whatever it may be. I feel like that could
29:21
Speaker 5: be a really good idea too.
29:22
Speaker 4: In my actual budget, I have an allocation for both
29:25
Speaker 4: clothing and beauty because I like to break my spending down,
29:28
Speaker 4: as we've discussed, into thirteen different saviors accounts, but.
29:32
Speaker 2: Like thirteen, I could not keep that. So I have
29:36
Speaker 2: my food, Fuel, and Fun account and that is it,
29:38
Speaker 2: and we function on a daily basis from that, and
29:41
Speaker 2: then I have like my savings account, Holy moly, thirteen,
29:44
Speaker 2: I'd be like, I could not go and pull money
29:46
Speaker 2: out of my beauty account to spend, I'd be useless.
29:49
Speaker 4: My overall spending system is the She's on the money
29:53
Speaker 4: budget and cash flow system, which is where those four
29:55
Speaker 4: bank accounts come in. If you haven't checked out, we'll
29:56
Speaker 4: have a link in the show notes because it is
29:58
Speaker 4: incredible if I do say so myself, but for me,
30:01
Speaker 4: because I am a really visual person, breaking those accounts
30:04
Speaker 4: down into actual categories and going, okay, I'm not comfortable
30:08
Speaker 4: spending more than X amount of dollars a month on
30:11
Speaker 4: clothing because anything more than that feels ridiculous for me.
30:14
Speaker 4: So actually breaking the budget down incrementally beyond those four
30:18
Speaker 4: accounts into what I do allow I guess myself to
30:22
Speaker 4: spend really made me super accountable, and that's something that
30:25
Speaker 4: I have found has worked really well.
30:26
Speaker 2: But take your advice. You've saved for a house, so
30:28
Speaker 2: I think that's pretty sure, all right, both have saved
30:31
Speaker 2: for houses. Basically, I'm very impressed. I think from my
30:34
Speaker 2: side of the table, i'd really be going back, and
30:36
Speaker 2: you guys are going to have seen this advice counting
30:39
Speaker 2: a mile off, but I'd go back to your values
30:41
Speaker 2: and your goals. Like often during the times when I'm
30:45
Speaker 2: spending the most and being really frivolous and not really
30:48
Speaker 2: planning my spending, and maybe historically when I was spending
30:51
Speaker 2: beyond my means, it was because I didn't have really
30:54
Speaker 2: clear goals and values or understand where I wanted to go.
30:58
Speaker 2: In fact, I would say that during those periods of time,
31:01
Speaker 2: I really didn't know what I wanted out a life either,
31:04
Speaker 2: Like I didn't know what I wanted to do with
31:05
Speaker 2: my career. I didn't know what I wanted to do
31:06
Speaker 2: with my relationships or my jobs. Like literally everything I
31:09
Speaker 2: was a bit like bear about. And so spending was
31:13
Speaker 2: that one thing that made me feel really good. And
31:15
Speaker 2: often when you are a bit of an overspender, there's
31:18
Speaker 2: usually a reason for it, because spending gives you dopamine,
31:22
Speaker 2: and dopamine makes you feel really good, and it gives
31:24
Speaker 2: you that instant burst of excitement and award essentially, so
31:30
Speaker 2: it might be replacing something else that's going on. So
31:33
Speaker 2: I'd have to sit down and be like, well, why
31:34
Speaker 2: do I feel like I need to do this, because
31:37
Speaker 2: obviously you've articulated that it's not a good idea and
31:40
Speaker 2: it's a bit silly and you don't want to be
31:42
Speaker 2: doing it for you personally. So I'd be really sitting
31:45
Speaker 2: down and going, well, when am I spending the most?
31:47
Speaker 2: Is it when I'm feeling a little bit bad? Is
31:49
Speaker 2: it when I'm having a bad day at work? Is
31:51
Speaker 2: it me because I'm anxious in the evenings, So I'm
31:54
Speaker 2: jumping on the iconic and buying some stuff to distract myself,
31:57
Speaker 2: like let's learn a little bit more about ourselves and
32:00
Speaker 2: our personal circumstances to kind of like hopefully read into
32:04
Speaker 2: the why, because there's always a why. It's not just like, oh,
32:08
Speaker 2: it just happens, Like it doesn't just happen. There's a
32:11
Speaker 2: reason behind everything. Then I would really want to be
32:14
Speaker 2: clear on my goals, and my financial goals would be
32:17
Speaker 2: obviously front of mind and setting goals and going like
32:19
Speaker 2: all right, well, I want to save or I want
32:21
Speaker 2: to invest or I want to pay off my debt,
32:23
Speaker 2: and this is how I'm going to do it. But
32:26
Speaker 2: from someone who is incredibly impulsive. The other thing I
32:29
Speaker 2: would say is automated. I am so good at my
32:32
Speaker 2: budget and cash flow on a day to day basis,
32:34
Speaker 2: and I think a lot of people look at me
32:36
Speaker 2: and go wow, like she's so good at money like
32:38
Speaker 2: I am, because it's automated, like I have ADHD. If
32:40
Speaker 2: things aren't automated, it's not happening. Like if it's in
32:44
Speaker 2: my account and it's within my reach, I am going
32:47
Speaker 2: to spend it because I don't think about the other
32:49
Speaker 2: incidental things that might exist, Like last month, I completely
32:53
Speaker 2: forgot that my income protection was due. And it's okay,
32:57
Speaker 2: like I have budgeted for it, it's in my cash flow,
32:59
Speaker 2: like I've got the money pulled aside because I've automated it.
33:02
Speaker 2: But I got that bill and I was like, Oh,
33:04
Speaker 2: where'd that come from? Didn't see that coming. That's wild,
33:07
Speaker 2: And had I not automated my process, I would have
33:10
Speaker 2: felt like that was a really big hit. So I
33:13
Speaker 2: think it's important to just really make a system that
33:16
Speaker 2: works for you, and you know, just thirteen accounts works.
33:20
Speaker 2: I couldn't keep track of that. That would drive me insane.
33:23
Speaker 2: I just need to know. And that's why I was
33:25
Speaker 2: talking about earlier about my up bank card. I love
33:28
Speaker 2: to know instant feedback what amount of money is left
33:31
Speaker 2: in my account so I can make decisions on it.
33:33
Speaker 2: And then I really like having a structure where every
33:37
Speaker 2: other goal is being attended to before I get to
33:40
Speaker 2: that cash that I'm allowed to spend, so regardless of
33:43
Speaker 2: whether that's you know, one hundred dollars or three dollars
33:46
Speaker 2: for a coffee, Like I think that we need to
33:48
Speaker 2: be really clear with ourselves about our goals and our
33:51
Speaker 2: values and not hush like I don't want to go
33:53
Speaker 2: all right, well, Jesse, you've only got fifty bucks for groceries,
33:56
Speaker 2: like you might go v that's not aligned to my goals.
33:58
Speaker 2: It's not about being restrictive. It's about understanding it. I
34:01
Speaker 2: think once you understand it, you'll feel far more in control.
34:04
Speaker 2: So that would be my advice.
34:06
Speaker 4: I love that before we were up the episode, I
34:08
Speaker 4: have something exciting to share with you, Victoria that you
34:11
Speaker 4: don't know about. Oh, can you close your eyes for
34:13
Speaker 4: one second? Yeah, let me give me, give me a second. Yeah,
34:16
Speaker 4: George is not either. I'm the only one who knows
34:18
Speaker 4: what is it? Just way, I'm not telling you. It's
34:20
Speaker 4: a surprise, is it? Well obviously, Well everybody else knows
34:24
Speaker 4: except me.
34:25
Speaker 2: I have a surprise everybody.
34:27
Speaker 4: It's a surprise for everyone I have in my hot
34:29
Speaker 4: little hands. Yeah, yes, something you've been wanting to see.
34:33
Speaker 4: Open your eyes, give me that. That's a good reaction,
34:38
Speaker 4: right for everyone playing your home. I just handed her
34:41
Speaker 4: the first my second book, well the first copy of
34:44
Speaker 4: the second book. And it's not even officially the final thing.
34:48
Speaker 2: No, it doesn't have the gold on it.
34:50
Speaker 4: Yeah, but it's the very first look that we've had
34:53
Speaker 4: at what it actually looks like in imperson.
34:57
Speaker 5: Do you love it?
34:58
Speaker 2: I love it.
34:59
Speaker 4: I did also bring for effect the first book, so you.
35:03
Speaker 2: Could put are you joking?
35:06
Speaker 5: They look stunning? If I do say so? How does
35:10
Speaker 5: everybody feel?
35:11
Speaker 2: Oh, it feels so weird. It feels so weird? Are
35:15
Speaker 2: you joking?
35:16
Speaker 5: Isn't she beautiful?
35:17
Speaker 4: We had a lot of there has been you guys,
35:20
Speaker 4: so much back and forth on getting this cover right,
35:22
Speaker 4: because I think the first time you have a book,
35:24
Speaker 4: the world is your oyster, really, but then when you
35:26
Speaker 4: have a second book, you go, well, I wanted to
35:28
Speaker 4: work with the first book, but I want it to
35:29
Speaker 4: have its own personality. So we have spent a lot
35:33
Speaker 4: of times on this. I know a guy who knows
35:35
Speaker 4: a guy.
35:37
Speaker 2: I haven't even been able to sign off on this
35:39
Speaker 2: pot Oh my god, this is sick.
35:44
Speaker 4: So if you have missed the memo, if you're not
35:46
Speaker 4: in our Facebook group of following us on Instagram. The
35:48
Speaker 4: second book, Investing with Cheese on the Money, is coming
35:50
Speaker 4: out this September, which is much sooner than twenty correct,
35:55
Speaker 4: and it is available for pre order. We had a
35:57
Speaker 4: massive outpouring of support because it went on sale on
36:00
Speaker 4: Amazon Prime Day. Definitely check if it is still It
36:03
Speaker 4: was forty two percent off and the day we're recording
36:05
Speaker 4: this that deal is still available, so check if it
36:08
Speaker 4: is when this episode goes up. But I don't think
36:10
Speaker 4: you guys realize how much pre orders help us out,
36:14
Speaker 4: because if there is interest and excitement around the book,
36:17
Speaker 4: that is what gives us opportunities to do things like
36:20
Speaker 4: bookchores or to do things like media because we, I
36:24
Speaker 4: guess we have to kind of prove ourselves that people
36:26
Speaker 4: are interested. And so when you sign up and pre
36:28
Speaker 4: order the book, you're not just supporting us by doing that,
36:31
Speaker 4: but you're also enabling us to hopefully get out to
36:34
Speaker 4: see you and hug you in person, come to a
36:37
Speaker 4: city near you, or you know, for Victoria to get
36:40
Speaker 4: on TV and be able to spread her message of
36:42
Speaker 4: financial literacy even further.
36:44
Speaker 5: So thank you so much.
36:46
Speaker 2: It's wild to think that you guys pushed it to
36:49
Speaker 2: number one on Amazon, and I think you guys, yeah,
36:52
Speaker 2: as Jessa saying, you just don't realize how much that means,
36:55
Speaker 2: like for the success of a book, right, because it's
36:58
Speaker 2: already given me the opportunity going to Sydney to talk
37:01
Speaker 2: at the Dimix conference, and like that'll be super fun
37:04
Speaker 2: to be able to talk to actual booksellers about my
37:06
Speaker 2: book writing process. And we're already talking to a few
37:09
Speaker 2: people about potential events. And originally when we launched the
37:13
Speaker 2: first book, obviously the first book, they've got to see
37:15
Speaker 2: how you go, but we weren't able to have an
37:18
Speaker 2: event and it wasn't something that was on the cards
37:21
Speaker 2: because COVID and then we really wanted to and it
37:23
Speaker 2: just never eventuated. But now we're talking about potentially having
37:27
Speaker 2: events in Melbourne, Sydney and Brisbane and that would be
37:30
Speaker 2: just so special to think that that would happen. And
37:33
Speaker 2: it only happens if you have good pre sales because
37:35
Speaker 2: otherwise they look at it and go, well, you know,
37:37
Speaker 2: how are we going to know that people will turn
37:39
Speaker 2: up to these events for this book if the book
37:41
Speaker 2: isn't even preselling. So it's just it's honestly so special
37:44
Speaker 2: and to know you guys support us in that way,
37:47
Speaker 2: like it's wild to think that you're willing to buy
37:49
Speaker 2: book you can't even see the chapters of. Yeah, like
37:53
Speaker 2: it's so special.
37:54
Speaker 4: And if you can't pre order, because we have had
37:56
Speaker 4: a few people message and say, oh my gosh, I
37:58
Speaker 4: want to support you, but it's just not in budget
37:59
Speaker 4: right now, girl, we get it. You can support us
38:02
Speaker 4: in so many other ways, sharing the book to your stories,
38:05
Speaker 4: sharing She's on the Money in general, to your stories,
38:07
Speaker 4: or with your friends and family. Libraries as well do
38:10
Speaker 4: this thing where you can essentially request an upcoming title.
38:15
Speaker 4: So if you want to borrow She's on the Money
38:17
Speaker 4: from your local library, get in touch, send them an
38:19
Speaker 4: email and say, hey, I really want this book. Do
38:21
Speaker 4: you have a plan to bring it in? Some libraries
38:22
Speaker 4: have a pre order, it's not really an order, but
38:26
Speaker 4: you can pre put yourself on a list to borrow.
38:28
Speaker 5: It as well.
38:29
Speaker 2: Yeah, it's so cool.
38:30
Speaker 4: Every little step like that really counts. And for our
38:33
Speaker 4: little business to be able to be having the impact
38:36
Speaker 4: that we're having, it's all thanks to you, guys, and we're.
38:38
Speaker 2: Just so had. All right, Well, I think that is
38:41
Speaker 2: a very special place to leave it. Thank you so
38:44
Speaker 2: much for surprising me with that, Jess. That is so
38:47
Speaker 2: flipping cool. But unfortunately that is all we have time
38:51
Speaker 2: for today. So miss Georgia King, could you please put
38:54
Speaker 2: down the second book and wrap the boring.
38:56
Speaker 5: But important stuff? Absolutely I can already. Guys, Please remember
38:59
Speaker 5: that the advice shared on She's on the Money is
39:01
Speaker 5: general in nature and does not consider your individual circumstances.
39:05
Speaker 5: She's on the Money exists purely for educational purposes and
39:08
Speaker 5: should not be relied upon to make an investment or
39:11
Speaker 5: a financial decision. And we promise Victoria divine and She's
39:14
Speaker 5: on the Money are authorized representatives of in Focused Securities
39:18
Speaker 5: Australia Proprietary Limited ABN four seven zero nine seven seven
39:22
Speaker 5: nine seven zero four nine AFOSL two three six five
39:25
Speaker 5: two three.
39:25
Speaker 2: See you next week, guys, fias