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FRIDAY DRINKS: Discussing the Dollars Behind TikTok! · 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 4: Hello and welcome to She's on the the podcast for
1:01
Speaker 4: millennials who want financial freedom.
1:03
Speaker 2: Today, guys, it is Friday, which.
1:05
Speaker 4: Means it is time to sit back with the girls
1:07
Speaker 4: with a bevy in hand, to unpack our favorite moments
1:10
Speaker 4: of the week and of course to celebrate you ow incredible.
1:13
Speaker 4: She's on the Money community. As always, we're going to
1:16
Speaker 4: be sharing our favorite money wins. We're going to be
1:18
Speaker 4: discussing what's making news in the finance world, and this
1:20
Speaker 4: week we are going to be helping to answer a
1:22
Speaker 4: juicy money.
1:23
Speaker 2: Question, which is actually about property.
1:25
Speaker 4: But before we get there, as always, it is time
1:28
Speaker 4: to recap the week that was, Miss Jess Grici.
1:30
Speaker 2: What happened on Monday.
1:32
Speaker 5: This week's diarist was honestly so incredible, one of my
1:36
Speaker 5: favorite ones. I mean, they're all big favorites of mine,
1:39
Speaker 5: but our diarist was really candid with us. She's a
1:42
Speaker 5: first gen immigrant from Sri Lanka and her life has
1:46
Speaker 5: always revolved really heavily around finance, like a lot of
1:49
Speaker 5: immigrant or first gen kids experience, because she's carrying a
1:53
Speaker 5: lot of weight and a lot of responsibility for her family.
1:56
Speaker 5: The majority of her family are still back in Sri Lanka.
1:59
Speaker 5: She here with her sister and her mum, and she
2:02
Speaker 5: spoke to us about firstly, what that burden. I don't
2:06
Speaker 5: know if burden's the right word, because it's a you know,
2:08
Speaker 5: a privilege, and she absolutely said that to be in
2:11
Speaker 5: a position to look after her family, but there's a
2:13
Speaker 5: lot of responsibility I think on her shoulders knowing that
2:16
Speaker 5: they want to be helping out. And then lay it
2:18
Speaker 5: over the top of all that, there's obviously a lot
2:20
Speaker 5: of unrest over Intr Lanka right now that is really
2:23
Speaker 5: complicating the matters for her family in terms of, you know,
2:27
Speaker 5: access to resources and personal safety and all of these
2:30
Speaker 5: absolutely tragic, awful things. And it was just so incredible
2:34
Speaker 5: to hear how she reconciled all of that, because that
2:37
Speaker 5: is a lot to be on the shoulders of a
2:39
Speaker 5: twenty two year old and it really just made me go, wow, like,
2:43
Speaker 5: you're incredible, and that story is actually probably not super unique.
2:47
Speaker 5: There's a lot of people that are in the same position,
2:49
Speaker 5: and so I was so grateful that she was really
2:52
Speaker 5: open with us about her journey and her mental health
2:55
Speaker 5: and that of her family as well as well. We
2:57
Speaker 5: did also make sure that we put some really good
2:59
Speaker 5: place so that you could donate money if you do
3:01
Speaker 5: want to help out with the economic crisis in Sri Lanka.
3:03
Speaker 2: In the show notes of that episode two.
3:05
Speaker 4: And raight over to you, Miss Georgia King, what happened
3:08
Speaker 4: on Wednesday?
3:09
Speaker 6: On Wednesday, it was a super interesting episode that the
3:13
Speaker 6: two of you did together, and it was all about
3:15
Speaker 6: recognizing financial red flags in relationships, so it's super important topic.
3:21
Speaker 6: We spoke about the red flags for someone who just
3:24
Speaker 6: isn't right for you, and then we contrasted that with
3:27
Speaker 6: someone who might be showing signs of financial abuse.
3:30
Speaker 2: Which is a really really delineation. Yep, exactly.
3:33
Speaker 6: You guys also went through the list of things that
3:37
Speaker 6: we should be mindful of that count as red flags,
3:39
Speaker 6: with things like not letting usevend your own money, borrowing
3:42
Speaker 6: copious amounts from you, and not really telling you what
3:45
Speaker 6: it's for, secret debt, credit card issues, all of that
3:47
Speaker 6: kind of stuff. So if you are maybe worried that
3:50
Speaker 6: your partner might have issues, or even that you might,
3:53
Speaker 6: then I think this episode is a really good place
3:55
Speaker 6: to start.
3:55
Speaker 4: Yeah, and I think it was a good place to
3:57
Speaker 4: start as well when it's like, here are the red flags.
3:59
Speaker 4: But also everyone has a different money story, so we
4:03
Speaker 4: need to be able to decipher what's a red flag
4:05
Speaker 4: and maybe what's just an indication that they have some
4:07
Speaker 4: money trauma. And that's a really hard thing to do
4:09
Speaker 4: sometimes because you know, you might go, oh my gosh,
4:12
Speaker 4: they're really hesitant around money. That means that they're hiding
4:15
Speaker 4: something and it might actually just be their underlying anxiety.
4:17
Speaker 4: So it's really important to see I guess things from
4:20
Speaker 4: both sides of the coin while also having a really
4:22
Speaker 4: good level of empathy.
4:24
Speaker 2: Was a good episode.
4:24
Speaker 4: I mean, Jess and I did it together because you
4:26
Speaker 4: were in BALI. I was kind of rude, but all right,
4:29
Speaker 4: getting my ten or do you have a fun time.
4:31
Speaker 4: We'll talk about it later. Yeah, we'll talk about it later.
4:33
Speaker 2: I like it.
4:33
Speaker 4: I like it all right, Georgia King. It's time for
4:35
Speaker 4: our budget direct money Wins and Confessions of the week.
4:37
Speaker 2: What have you got for us?
4:38
Speaker 6: So mccrack is this week as always my girls. So
4:42
Speaker 6: the first one comes from Hailey money Win. I attended
4:45
Speaker 6: my first market since starting my small business last month
4:49
Speaker 6: and I sold over three hundred dollars worth of earrings.
4:52
Speaker 6: Yeah yeah, it was cut very cute. It was only
4:56
Speaker 6: a small market that went into lunchtime, but I was
4:58
Speaker 6: so happy with how it went. I'm nearly breaking even
5:00
Speaker 6: and we'll start making a profit soon. Just a little
5:03
Speaker 6: shout out to Hailey. Her business is called Handmade by Hailey,
5:07
Speaker 6: so search it up and support our girl. Well done
5:10
Speaker 6: to you, Hailey. The next win of the week comes
5:13
Speaker 6: from Steph. I filled out a survey for my super
5:16
Speaker 6: company and I got sent a twenty five dollar visa boutcher.
5:20
Speaker 2: As a thank you. Money Ween.
5:21
Speaker 6: I was able to get a couple of staple pieces
5:23
Speaker 6: on clearance from Kmart for building my capsule wardrobe. Well
5:26
Speaker 6: done to you, Steph.
5:27
Speaker 2: I love that.
5:28
Speaker 6: Oh I planned this poorly. The next win comes from
5:31
Speaker 6: Steph as well.
5:32
Speaker 2: Are they felt the same, No.
5:35
Speaker 4: There you go. Yeah, well, I mean if this was
5:37
Speaker 4: an actual visual podcast, we know that matters.
5:40
Speaker 6: Not true, So it comes from Stephanie. Money win. I
5:42
Speaker 6: baked my partner a birthday cake instead of paying over
5:45
Speaker 6: sixty dollars on chocolate cake.
5:47
Speaker 4: Cake is insaints why I didn't have one of my
5:49
Speaker 4: wedding boycott the cake.
5:50
Speaker 6: Bye, you're a big fan of a Cole's cake, can't
5:52
Speaker 6: you be in on top?
5:54
Speaker 1: Yeah?
5:55
Speaker 2: Yeah, yeah, go get your chocolate mud cake?
5:57
Speaker 4: Decorate that up low Keyn't tell my best friend that's
6:01
Speaker 4: what I made her engagement Cake's got three Coals mug cakes,
6:06
Speaker 4: some Betty Crocker icing, put them all together, put some
6:09
Speaker 4: fresh flowers on the top. Hey pressed, O looks like
6:12
Speaker 4: one hundred dollar cake cost me less than twenty at
6:15
Speaker 4: Coals YouTube video though, because anyone who follows me on
6:18
Speaker 4: Instagram might remember Kate Gate from earlier this year working
6:22
Speaker 4: on some.
6:22
Speaker 2: She's on the Money content.
6:24
Speaker 4: Yeah, even the Coal's mud cake cannot be successful for
6:29
Speaker 4: some people.
6:29
Speaker 2: Yeah, just watch your YouTube videos all way. Say.
6:33
Speaker 6: The next week, it comes from Caitlyn money Win. I
6:35
Speaker 6: scored five polarates classes for fifty dollars.
6:38
Speaker 2: That's good value. Is that pretty good? That's good values?
6:41
Speaker 2: Class Like thirty dollars.
6:42
Speaker 4: I started doing a lot of polarates at home using
6:44
Speaker 4: my kick app, not sponsored, justecue because my local polity
6:49
Speaker 4: studio gone up dollars a class, George King, Yeah no
6:54
Speaker 4: for me, so I'm just do it in my laundry.
6:55
Speaker 6: Five to fifty is a good deal, Well done, Caitlin.
6:59
Speaker 6: The next wee it comes from Ammalina money Win. I
7:02
Speaker 6: finally got my permanent resident a visa after being in
7:05
Speaker 6: Australia for fourteen years.
7:06
Speaker 2: Congratulcome to family.
7:09
Speaker 6: This means my finances will need an overhaul since I
7:12
Speaker 6: can get Medicare cheaper, private health insurance at home line
7:15
Speaker 6: and all.
7:16
Speaker 2: Of that good stuff.
7:17
Speaker 6: Fourteen years that's a long time.
7:20
Speaker 2: Well just so welcome to the family. But she's been
7:22
Speaker 2: here the whole time.
7:23
Speaker 6: She's been here the whole time.
7:24
Speaker 4: So that cousin that you're waiting to get married, like
7:26
Speaker 4: they've got that really nice girlfriend that's come to Christmas
7:28
Speaker 4: every time, and you locked us waiting for the ring.
7:31
Speaker 2: You just know, yeah, we locked you down. We locked
7:33
Speaker 2: it down. Finally.
7:35
Speaker 6: The final win of today comes from Lauren money Win.
7:38
Speaker 6: I attended a wedding and my friend organized a shuttle
7:41
Speaker 6: to take us to the venue and take us back
7:43
Speaker 6: to our airbnb. The airbnb host offered to drop us
7:46
Speaker 6: off at the venue in the afternoons. It was just
7:48
Speaker 6: down the road, and then when the shuttle bus didn't
7:50
Speaker 6: pick us up at eleven thirty pm, the wedding coordinator
7:53
Speaker 6: offered to drop us back at the airbnb on the
7:55
Speaker 6: way home. I never heard from the shuttle and it
7:59
Speaker 6: was a good thing that we have paid. Yet, what wholesome,
8:01
Speaker 6: lovely people there are out there.
8:03
Speaker 2: Very nice.
8:05
Speaker 4: Yeah, that is a sweet way to end, all right, Gee,
8:08
Speaker 4: As always, it has been fantastic celebrating some of your
8:11
Speaker 4: budget Direct money wins. Budget Direct winner of Canstar's Insurer
8:14
Speaker 4: of the Year Award twenty twenty two. Budget Direct Insurance Solved.
8:18
Speaker 4: Good one, Georgia King. Thanks Well, let's go to a
8:20
Speaker 4: really quick break and when we get back, we're going
8:22
Speaker 4: to talk about property and we're going to talk about
8:24
Speaker 4: the TikTok influence. So who is making one million dollars
8:27
Speaker 4: each post they make? Don't go anywhere, alright, gals, A quick.
8:34
Speaker 5: One, but just a kind of fun interesting little article
8:37
Speaker 5: that I saw TikToker carby Lame or La may not
8:41
Speaker 5: sure which it is. There was an article about him
8:43
Speaker 5: recently because he makes as much as a million dollars
8:47
Speaker 5: per TikTok post, which is wild to me because I've
8:51
Speaker 5: never heard of him, and maybe that just means that
8:52
Speaker 5: I'm living.
8:52
Speaker 2: Under a rock. I've totally seen him.
8:54
Speaker 4: You know, that dude that like jumps in and like
8:57
Speaker 4: not man's plains but basically explains things rate after like
9:01
Speaker 4: another person's video, you know, like Kendall was cutting the
9:04
Speaker 4: cucumber like backwards and it just looked really complicated. He
9:07
Speaker 4: like drops in and he like shakes his little fingers
9:09
Speaker 4: like no, no, no, and then shows you how to
9:10
Speaker 4: do it really simply.
9:11
Speaker 5: Ah okay, yeah, so funny you mentioned Kendall actually because
9:14
Speaker 5: you think of I've seen similar articles about Kylie Jenner
9:16
Speaker 5: making similarly crazy amounts of money per post, and it
9:20
Speaker 5: was just really interesting to me because I mean, he
9:22
Speaker 5: has a lot of followers. He has one hundred and
9:25
Speaker 5: forty nine point five million followers at the time the
9:27
Speaker 5: article was written, which is so many people.
9:30
Speaker 2: That's insane amount of people, but.
9:32
Speaker 5: Also it's a mind boggling amount of money as well.
9:34
Speaker 5: It just kind of blew my tiny mind.
9:36
Speaker 2: It blows my mind as well.
9:37
Speaker 4: So in a profile that I found with Fortune, it
9:40
Speaker 4: was revealed that he earns up to one point one
9:42
Speaker 4: two million dollars per clip that he makes on TikTok,
9:45
Speaker 4: and he is reported to also make about five hundred
9:48
Speaker 4: and ninety seven thousand dollars per brand collaborations, and that
9:51
Speaker 4: doesn't mention anything about his in real life brand partnerships.
9:54
Speaker 2: Like what, that's so much money, So.
9:57
Speaker 6: Where's the one million coming from? Is that from TikTok?
10:00
Speaker 6: Because he's generating a lot of eyeballs, people are coming
10:02
Speaker 6: to the app.
10:03
Speaker 2: That's what people are.
10:04
Speaker 4: Paying him to make content for them. So the brands
10:07
Speaker 4: that he's working with are paying up to that. And
10:10
Speaker 4: recently I've got some actual name deals. He recently owned
10:13
Speaker 4: six hundred and seventy two thousand dollars American for a
10:16
Speaker 4: partnership with Hugo Boss, who he walked the run way
10:19
Speaker 4: for at the Milan Fashion Week show. And he recently
10:23
Speaker 4: shared that he signed a deal for over a million
10:25
Speaker 4: dollars for a single clip in collaboration with a major
10:27
Speaker 4: Hollywood studio.
10:28
Speaker 2: Like what that is? So much money? He's become the
10:32
Speaker 2: number one TikTok user.
10:33
Speaker 6: Wow, hate to be an asshole, ha, but Carby Lame
10:39
Speaker 6: a little bit lame, not that funny.
10:41
Speaker 2: From you don't like his content.
10:44
Speaker 6: I'm not on TikTok. I don't get it. But I
10:46
Speaker 6: just watched a few VIDs to be like, who is this?
10:49
Speaker 6: Who's this guy? What's he up to?
10:51
Speaker 2: But I would.
10:52
Speaker 6: Say Froomes is content.
10:54
Speaker 4: For examples, Froomes once gave me an award like where
10:58
Speaker 4: we won the.
11:03
Speaker 2: If you're listening but she's not listening.
11:07
Speaker 6: He must have just really found his niche and.
11:10
Speaker 5: It is it's working for you. I think it's a
11:13
Speaker 5: it's a good design if you've ever been nervous. We
11:17
Speaker 5: hear a lot in the Business Bible community from small
11:19
Speaker 5: business people who were anxious about showing up on social media.
11:22
Speaker 2: It can be very profitable.
11:23
Speaker 5: And while we're all not going to be Carbi Lame's
11:26
Speaker 5: or Lamar's, I'm really sorry, don't have to pronounce your name.
11:29
Speaker 5: There is profit to be had, and businesses more than
11:31
Speaker 5: ever are putting money and advertising spend behind these everyday
11:35
Speaker 5: normal people, where once upon a time.
11:37
Speaker 2: It would have just been for celebrities.
11:38
Speaker 6: So on that, guys, you are both influencers to a point.
11:42
Speaker 2: Can you more than me?
11:45
Speaker 5: For sure?
11:47
Speaker 6: When you guys started, what was it like doing your
11:49
Speaker 6: very first video or your very first Instagram story or
11:52
Speaker 6: whenever it quest and being vulnerable in front of the camera,
11:55
Speaker 6: knowing that people are going to be like, oh god,
11:57
Speaker 6: Jess is trying to be an influencer. What's Victoria trying
11:59
Speaker 6: to do? Like, how do you block that out? For
12:01
Speaker 6: people that are starting small businesses and they want to
12:04
Speaker 6: put themselves out there, how do you push away that
12:06
Speaker 6: kind of self doubt?
12:07
Speaker 4: That's really hard because I had so much self doubt
12:10
Speaker 4: at the start of my journey. In fact, the whole
12:12
Speaker 4: reason I started a podcast was because they didn't want
12:14
Speaker 4: to be in front of the camera and it was
12:16
Speaker 4: just all too overwhelming to create YouTube videos like Jess, Like,
12:19
Speaker 4: for those of you who don't know, she has more
12:21
Speaker 4: than fifty thousand bloody subscribers on YouTube, Like she's a
12:24
Speaker 4: big dog in the YouTube world, but it's one of
12:27
Speaker 4: those things that I was really overwhelmed. But then I
12:30
Speaker 4: guess the more you do it, the more comfortable you
12:32
Speaker 4: get with it. And I think that I at the
12:34
Speaker 4: very start maybe assumed that people wanted something that wasn't
12:38
Speaker 4: me and you'd have to like curate this. People just
12:40
Speaker 4: want to see what you're up to, and like, I
12:42
Speaker 4: just think that if you're following me, you probably have
12:45
Speaker 4: something in common with me. We're probably the type of
12:47
Speaker 4: people that are going to be friends. I would hope
12:49
Speaker 4: you're not just following to laugh at me. But the
12:52
Speaker 4: people that follow you genuinely want to see your content
12:54
Speaker 4: and want to see what you're enjoying and want to
12:56
Speaker 4: see what you're sharing, and so that to me makes
12:58
Speaker 4: it a little bit easier. I always find it a
13:00
Speaker 4: lot more overwhelming when I'm creating content that I know
13:02
Speaker 4: the brand is going to use, whereas if it's my audience,
13:05
Speaker 4: I'm always like, oh, this is just for my friends,
13:07
Speaker 4: And that's the way I approach it, because I'm like, well,
13:09
Speaker 4: if I'd be embarrassed that my friends saw it, then
13:11
Speaker 4: I'm not going to post it. So I think it's
13:13
Speaker 4: just more dial it back a little bit. Jess, how
13:16
Speaker 4: do you approach that you're just so much better at
13:18
Speaker 4: it just always tells me what to do at all.
13:21
Speaker 4: It's a really interesting dichotomy because on one hand, people
13:26
Speaker 4: follow and I'm not putting myself in this category, but
13:29
Speaker 4: I'm a very very micro influencer on the platforms that
13:31
Speaker 4: I'm on.
13:32
Speaker 2: But she's an influencer. But I don't like the word.
13:35
Speaker 5: I think that it's really interesting because on one hand,
13:38
Speaker 5: people always want more content. They want more videos, more photos,
13:41
Speaker 5: more whatever from you, And even if she's on the money,
13:43
Speaker 5: we see this as well. But people really hate sponsored content.
13:48
Speaker 5: And I understand on some level that people don't want
13:52
Speaker 5: things push down their throats. But it's something that I
13:54
Speaker 5: really struggle with because I mean for myself personally, for
13:58
Speaker 5: she's all the money for Victoria is well, we're so
14:01
Speaker 5: incredibly selective with what we do take on. We only
14:04
Speaker 5: take on things that resonate or products that we use,
14:06
Speaker 5: or products that we genuinely like. And it's hard because
14:10
Speaker 5: in order to give people what they want, if people
14:12
Speaker 5: want more content, you require more time. You need to
14:15
Speaker 5: pay for that. Somehow she's on the money employees, how
14:17
Speaker 5: many full time staff we need to pay those bills, like,
14:20
Speaker 5: unfortunately my salary doesn't just appear out of scene.
14:23
Speaker 2: Now I have toesn't it?
14:24
Speaker 6: We got it?
14:25
Speaker 5: You know how we do that with ads? And so
14:27
Speaker 5: I find it really interesting because people I think, who
14:30
Speaker 5: aren't familiar with the advertising space, and more often than not,
14:32
Speaker 5: the ones that have their back up a little bit
14:34
Speaker 5: about it. And I struggle because I go, like, I
14:37
Speaker 5: get that you don't want to be over sold to,
14:40
Speaker 5: Like I get that you don't want me to be
14:42
Speaker 5: like here's this bitcoin thing, because that doesn't a lot
14:45
Speaker 5: like that would be gross coming from me because it.
14:47
Speaker 4: Could become infomercials, you know, the ones to see like
14:49
Speaker 4: after eleven pm on TV.
14:51
Speaker 5: Yeah, like if something doesn't seem genuine, I get why
14:53
Speaker 5: you wouldn't.
14:54
Speaker 2: Want to see that.
14:54
Speaker 5: But influencers like have to put food on the table
14:58
Speaker 5: like it is a job this day and age, and
15:00
Speaker 5: you know, for us, it's something that's kind of an
15:03
Speaker 5: aside to she's on the money, which I guess is
15:05
Speaker 5: kind of an influencing thing in and of itself sometimes,
15:07
Speaker 5: but you know, for people, I don't understand why people's
15:12
Speaker 5: reaction isn't to support it, because whenever I see people
15:14
Speaker 5: put stuff out that I like, I'm like, save it,
15:16
Speaker 5: like it, comment on it, send it to a friend,
15:18
Speaker 5: like doing everything I can to get that engagement up
15:21
Speaker 5: because I'm like, yes, Queen, get that bag.
15:23
Speaker 2: You worked hard.
15:24
Speaker 5: I know that you love that brand, and I'm so
15:26
Speaker 5: proud of you forgetting this job because it's a job
15:29
Speaker 5: and I don't think people.
15:31
Speaker 2: View it that way.
15:32
Speaker 5: And we've copped it on shees on the money, we've
15:33
Speaker 5: both copped it personally where people don't like it. Sponsor
15:36
Speaker 5: posts tank and then you get self conscious because you're like, oh, like,
15:40
Speaker 5: I was very proud of this, Like I worked really
15:42
Speaker 5: hard on it, and I was really excited for someone
15:45
Speaker 5: like me who is just a little tiny fish. I'm like,
15:47
Speaker 5: I'm so proud that I've done it.
15:49
Speaker 2: Comment not, sister.
15:52
Speaker 5: But it's really interesting that people have the opposite reaction,
15:55
Speaker 5: and I think it is just.
15:56
Speaker 2: A mind frame thing because they don't get it.
15:58
Speaker 4: Bay It's because they literally don't understand the time, energy
16:01
Speaker 4: and effort it goes into it. I think that, you know,
16:04
Speaker 4: influencing seems really glamorous because that's what influencers are best at,
16:07
Speaker 4: making their lives look super glamorous, because that's why they exist, right,
16:11
Speaker 4: But I think that the important thing to remember is
16:14
Speaker 4: it's time, it's energy, it's effort, like the amount of
16:16
Speaker 4: back and forth with the brand and understanding their brief
16:19
Speaker 4: and then going how do you want this filmed? Like,
16:21
Speaker 4: because there's so many semantics that come into it, Like
16:24
Speaker 4: if you think you're just watching an organic skin care
16:26
Speaker 4: video and that brand hasn't said use this one, then
16:29
Speaker 4: this one, and then use this one and say this
16:31
Speaker 4: about the like that happens all the time. And I mean,
16:33
Speaker 4: I've never taken instruction from a brand like that because
16:37
Speaker 4: it goes against everything in my body, Like, I just
16:40
Speaker 4: can't do it. I have tried to work with brands
16:42
Speaker 4: and I'm like, oh, give your product a crack. If
16:44
Speaker 4: it's not something that I genuinely would use, I have
16:47
Speaker 4: to say no pure because I'm just too transparent. I
16:50
Speaker 4: can't get up there and be like, oh, Jess, I
16:52
Speaker 4: love this, you should buy it too.
16:54
Speaker 2: It makes me ick.
16:55
Speaker 4: But I think that people don't understand the work that
16:58
Speaker 4: goes into it and the amount of time, energy, effort
17:00
Speaker 4: that went into all of those posts to get to
17:02
Speaker 4: the first paid post, Like it's genuinely a lot of work.
17:06
Speaker 4: But I do see the dynamic around influences and people's
17:10
Speaker 4: and the community's expectation of them changing completely. Before it
17:15
Speaker 4: was like the rise of the influencer, and influencers could
17:17
Speaker 4: talk about anything, and then they became full time influencers.
17:20
Speaker 4: And and now I think that full time influencers have
17:22
Speaker 4: existed for a while that people are bored with them.
17:24
Speaker 4: They're like, no, no, no, You're not relatable anymore. You're
17:26
Speaker 4: just like this full time influencer. I want to go
17:29
Speaker 4: follow Georgia King, who's a journalist and also does some posts.
17:32
Speaker 2: Or I want to.
17:32
Speaker 4: Follow Jess, who we know works full time for she's
17:35
Speaker 4: on the money and as a hustle in her own right,
17:36
Speaker 4: but also runs this like little side thing of doing her.
17:39
Speaker 2: Own influencer work.
17:40
Speaker 4: And I think that that is the type of influence
17:42
Speaker 4: or influencers that people want to follow now because they
17:45
Speaker 4: have I don't want to say more substance, but they
17:47
Speaker 4: kind of have more interest in the backstory of their lives,
17:51
Speaker 4: and you know, they're the types of influencers I want
17:53
Speaker 4: to follow, Like I want to follow business owners. I
17:56
Speaker 4: want to follow people who have full time careers and
17:58
Speaker 4: share that journey and also do sponsored content on the side,
18:01
Speaker 4: I don't want to just follow someone who's hot, like
18:03
Speaker 4: I'm not a dude on TikTok or Instagram, Like I
18:06
Speaker 4: don't need to see bikini picks. I really don't mind.
18:09
Speaker 4: So I think that this dynamic is changing, but I
18:11
Speaker 4: think people get so hyped about it. And this is
18:14
Speaker 4: why it's been sent to me so many times in
18:16
Speaker 4: the last couple of weeks, is because a million dollars
18:18
Speaker 4: one post seems astronomical.
18:20
Speaker 2: Yeah, weekly, we're not even scratching the surface of everyone.
18:25
Speaker 4: We have to do like fifty million posts just to
18:28
Speaker 4: like pay one of Jess's salaries. But I think it's
18:31
Speaker 4: interesting because when it gets to that point, you're like,
18:34
Speaker 4: that is stupid money. The reason people are willing to
18:37
Speaker 4: pay it is two things, right, conversion and exposure. So
18:41
Speaker 4: conversion would be the amount of clients that they might
18:43
Speaker 4: get for that or sales they might get for that post.
18:46
Speaker 2: But then two, you look at this guy.
18:48
Speaker 4: And he has what more than one hundred and fifty
18:50
Speaker 4: million TikTok followers. He is the biggest platform on TikTok.
18:54
Speaker 4: You are basically guaranteed exposure to your product by working
18:59
Speaker 4: with this person. There's not a lot of places left,
19:01
Speaker 4: like TV, radio, advertising billboards that I could guarantee that
19:05
Speaker 4: type of exposure.
19:06
Speaker 2: Like you go and.
19:07
Speaker 4: Buy a billboard, you can't get one hundred and fifty
19:09
Speaker 4: million eyes on that. Like And as much as not
19:11
Speaker 4: every single one of his audience would see it, really
19:13
Speaker 4: nice chunk of them will. And when it comes to advertising,
19:17
Speaker 4: it's usually measured by how many people will see it,
19:19
Speaker 4: hear it, or digest it as to how they cost
19:22
Speaker 4: for it. So as much as that might seem astronomical,
19:24
Speaker 4: it's just how the metrics might have come out.
19:28
Speaker 6: As someone who works in traditional media, I think it's
19:31
Speaker 6: really interesting to see how all of this money is
19:33
Speaker 6: being reallocated to social media because it is more effective,
19:37
Speaker 6: it is more trackable, you can see the results that
19:40
Speaker 6: you're having as a brand. So yeah, it's just fascinating.
19:44
Speaker 6: And you know, credit to carb Lame doing great work.
19:48
Speaker 2: Great bed.
19:50
Speaker 4: Yeah exactly. All right, let's do a listener question. What
19:53
Speaker 4: have we got this week?
19:56
Speaker 7: Hi?
19:57
Speaker 6: There, have you got a money dilemma you just can't
19:59
Speaker 6: solve that. She's on the Money Team is here to help.
20:02
Speaker 6: Every week we tackle your dilemmas. Broth big and Small
20:05
Speaker 6: to answer your most burning money, career and life questions.
20:08
Speaker 6: To get involved, simply head to our website and leave
20:11
Speaker 6: us a quick voice recording and you may just find
20:13
Speaker 6: yourself on the show. Now, let's take a listen to
20:15
Speaker 6: today's money dilemma.
20:18
Speaker 7: Hishes on the Money. I have a question about property.
20:21
Speaker 7: With the increasing cost of houses, I want to put
20:24
Speaker 7: us in the best position to purchase a house in
20:26
Speaker 7: a few years time. We purchased my first property, which
20:30
Speaker 7: was my partner's second property in twenty twenty. But my
20:34
Speaker 7: question is would it be best to keep paying down
20:36
Speaker 7: the current mortgages or with the equity and our current
20:39
Speaker 7: property that's gone up about one hundred and thirty thousand
20:42
Speaker 7: in two years, do we look to buy an investment
20:46
Speaker 7: property now and have three assets gaining value? My concern
20:50
Speaker 7: is the amount of debt would be taken on, but
20:52
Speaker 7: two of these properties would be investments and one we
20:55
Speaker 7: currently reside in. Thanks.
20:58
Speaker 4: When it comes to advice, obviously, I can answer this directly,
21:01
Speaker 4: being really brutally honest like that is far too specific.
21:04
Speaker 4: I don't know the semantics of your financial situation, or
21:07
Speaker 4: your goals, or your values, or literally anything for me
21:09
Speaker 4: to do that I need to do an entire statement
21:11
Speaker 4: of advice, which would involve an entire fact find we
21:14
Speaker 4: need to do a risk profile, we need to a
21:15
Speaker 4: goal setting session, like there would be so much to it, right,
21:18
Speaker 4: So unfortunately I can't do that. But I think that
21:21
Speaker 4: this is actually one of those circumstances where the value
21:24
Speaker 4: of financial advice really shines through. Like you clearly are
21:28
Speaker 4: in a good financial circumstance, Like financial advice can be
21:32
Speaker 4: a little bit inaccessible due to the cost. Right like
21:35
Speaker 4: for a financial plan, you're paying anywhere between three and
21:39
Speaker 4: probably seven thousand dollars depending on what financial advisor you
21:42
Speaker 4: go and see. But in saying that this community member
21:45
Speaker 4: has just told us that she's made one hundred and
21:47
Speaker 4: thirty thousand dollars in two years on her property, I
21:49
Speaker 4: would see it as a very good investment for them
21:52
Speaker 4: to go and get some genuine, personalized financial advice, because
21:56
Speaker 4: not only is it going to, you know, answer the
21:58
Speaker 4: question you're looking for, and I'm sorry, it's going to
22:00
Speaker 4: cost you money, but you're in a circumstance you've just
22:03
Speaker 4: explained it where a financial advisor is going to be
22:06
Speaker 4: able to turbo charge your wealth like they are going
22:08
Speaker 4: to be able to sit down and be like, all right,
22:10
Speaker 4: sit down, how are we going to do this? Be
22:12
Speaker 4: what does this look like? How are we going to
22:14
Speaker 4: work this out? What are your goals? What are your value?
22:17
Speaker 4: They're going to create a financial plan that only means
22:19
Speaker 4: that for the next few years you are you know,
22:22
Speaker 4: making bank on your investments, but you make the right
22:25
Speaker 4: decisions along the way. It's very impressive that you've gotten
22:28
Speaker 4: this far without advice, But I would really push towards
22:31
Speaker 4: getting advice now because it's quite a cushy and great
22:35
Speaker 4: position to be and where you're like, I don't know
22:36
Speaker 4: if I should pay off my mortgage or do this,
22:39
Speaker 4: and like, I mean, if you don't want to go
22:41
Speaker 4: and get advice, I would sit down and do your
22:42
Speaker 4: own budget and your own cash flow and have a
22:44
Speaker 4: look at what your mortgage rate is versus what the
22:46
Speaker 4: rate of the share market is, versus what the rate
22:48
Speaker 4: of other investments you're planning to make is, and make
22:51
Speaker 4: a decision that is in line with that. But genuinely,
22:54
Speaker 4: I think this is the perfect example of somebody who
22:58
Speaker 4: should go and talk to a financial advisor. Obviously, I
23:02
Speaker 4: am the biggest advocate for the financial advice industry, Like
23:05
Speaker 4: I used to be a financial advisor and I adored
23:07
Speaker 4: my job, and I'm still a little bit begrudging that
23:10
Speaker 4: I'm not doing that. But it just makes sense to
23:12
Speaker 4: focus on She's on the money. But there are people that,
23:15
Speaker 4: to be honest, I don't believe benefit as much as
23:18
Speaker 4: they could from financial advice because they're just not in
23:20
Speaker 4: the financial circumstances to afford it. But then also have
23:24
Speaker 4: the most power. But this is one of those circumstances
23:27
Speaker 4: where you go, gin, know what, if you're making that
23:28
Speaker 4: much money on a property, you have that much equity,
23:31
Speaker 4: you've got good cash flow, you've got good savings, and
23:34
Speaker 4: you don't have enough direction. Honestly, this is when I
23:37
Speaker 4: am quite point blank, go see a financial advisor. If
23:39
Speaker 4: you don't have one, head to my website, She's on
23:41
Speaker 4: the Money dot com, dot au, and I will match
23:44
Speaker 4: you with one of our preferred partners. And those are
23:46
Speaker 4: people that I work with directly each and every single
23:49
Speaker 4: week to put the Shes on the Money community in
23:51
Speaker 4: the best possible position. Like it's why we do what
23:53
Speaker 4: we do.
23:54
Speaker 5: Yeah, I think as someone who kind of was advisor
23:57
Speaker 5: adjacent for a very long time, fly on the wall.
24:00
Speaker 5: There's a lot of value to be had by seeing
24:02
Speaker 5: someone if you are in the right position to do so,
24:05
Speaker 5: and if you have something that's super basic that you
24:07
Speaker 5: can figure out yourself. As you said, maybe it's not
24:08
Speaker 5: worth it, but for someone like our listener, where they've
24:11
Speaker 5: got all of these assets and all of this money
24:13
Speaker 5: at play, I can see how that would be.
24:15
Speaker 2: Super valuable for them hundred percent.
24:16
Speaker 4: And it's not just the wealthy people who need financial advice.
24:20
Speaker 4: I mean, we have insurance only advisors and people who
24:23
Speaker 4: will just talk to you about investment in shares, and
24:25
Speaker 4: people who could help you with your superannuation. Like there
24:28
Speaker 4: are advisors for all stages, but in this particular case,
24:31
Speaker 4: I'd really be steering you further towards a holistic financial
24:35
Speaker 4: advisor that can look at absolutely everything. And that is
24:38
Speaker 4: on the I guess, pricier side of the financial advice realm,
24:41
Speaker 4: But from my perspective, that's an investment in itself. Like
24:45
Speaker 4: the one thing that I think that financial advisors are
24:47
Speaker 4: really bad at is selling themselves and saying, hey, gee,
24:50
Speaker 4: if you get financial advice, this is the position you'll be,
24:53
Speaker 4: and they want to do it. But if you spend
24:55
Speaker 4: five grand, You're going to get that back in dividends
24:58
Speaker 4: over the rest of your financial life. And just think
25:00
Speaker 4: that financial advisors need to be better at that, because
25:02
Speaker 4: that's exactly.
25:03
Speaker 2: What they do.
25:04
Speaker 6: Take the plunge, be all.
25:06
Speaker 4: Right before we go to the boring but important stuff.
25:09
Speaker 2: Georgia King, Hello.
25:11
Speaker 4: Is this your second last episode of Friday Drinks?
25:14
Speaker 6: I think it is.
25:16
Speaker 5: Style's now not bring out the waterworks again.
25:20
Speaker 2: No, but it's been a pleasure. Last week's your last.
25:22
Speaker 2: We'll have to have party, alright, you do something.
25:24
Speaker 6: For bringing cupcakes or something bringing.
25:26
Speaker 2: A cold mud cake.
25:29
Speaker 4: Alright, alright, alright, see you next week, guys. The advice
25:39
Speaker 4: shared on She's on the Money is generally nature and
25:42
Speaker 4: does not consider your individual circumstances. She's on the Money
25:46
Speaker 4: exists purely for educational purposes and should not be relied
25:50
Speaker 4: upon to make an investment or financial decision. If you
25:53
Speaker 4: do choose to buy a financial product, read the PDS
25:56
Speaker 4: TMD and obtain appropriate financial.
25:58
Speaker 2: Advice tailored towards your needs.
26:00
Speaker 4: Victoria Divine and She's on the Money are authorized representatives
26:04
Speaker 4: of Money sherper P T Y L T D A
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Speaker 4: seven zero eight A F s L four five one
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