Latest / She's On The Money / 5 Finance Books That Will Change Your Life

Transcript

5 Finance Books That Will Change Your Life · She's On The Money

• 0:00
  Speaker 1: Hello.
• 0:01
  Speaker 2: My name's Santasha Nabananga Bamblet. I'm a proud your the
• 0:05
  Speaker 2: Order Kerni Whoalbury and a waddery woman. And before we
• 0:08
  Speaker 2: get started on She's on the Money podcast, I would
• 0:11
  Speaker 2: like to acknowledge the traditional custodians of the land of
• 0:14
  Speaker 2: which this podcast is recorded on a wondery country, acknowledging
• 0:18
  Speaker 2: the elders, the ancestors and the next generation coming through
• 0:23
  Speaker 2: as this podcast is about connecting, empowering, knowledge sharing and
• 0:27
  Speaker 2: the storytelling of you to make a difference for today
• 0:31
  Speaker 2: and lasting impact for tomorrow.
• 0:33
  Speaker 1: Let's get into it. She's on the Money. She's on
• 0:37
  Speaker 1: the Money.
• 0:57
  Speaker 3: Hello, and welcome to Money, the podcast for millennials who
• 1:02
  Speaker 3: want financial freedom.
• 1:03
  Speaker 1: And to read a lot of books.
• 1:04
  Speaker 3: Exactly right. My name is Dodger King and joining me
• 1:07
  Speaker 3: as she always does, is Victoria Divine.
• 1:10
  Speaker 1: It's book Day. It's book Day. It's book Day. So
• 1:12
  Speaker 1: remember that time that I was like, let's start book
• 1:14
  Speaker 1: club and then maybe on the end of Friday drinks,
• 1:16
  Speaker 1: he'll tell you about a book that I really want
• 1:18
  Speaker 1: to share with you. Do you know what we're doing now?
• 1:20
  Speaker 1: We're just doing book episodes and this is five finance
• 1:24
  Speaker 1: books that Victoria Divine believes will change your entire life.
• 1:28
  Speaker 1: I have long wanted to do an entire She's on
• 1:30
  Speaker 1: the Money book club. This is like, is this a
• 1:32
  Speaker 1: soft launch hard launch? Maybe hard launch hard launch?
• 1:35
  Speaker 3: A book club.
• 1:36
  Speaker 1: So it's kind of like the best type of book
• 1:38
  Speaker 1: club as well. It's the book club where you don't
• 1:40
  Speaker 1: have to read the book. Like you turn up to
• 1:42
  Speaker 1: book club, you get the wine, you get to have
• 1:44
  Speaker 1: the cheese. I'll just tell you what happened in the book.
• 1:46
  Speaker 1: You get to socialize, and then you go home a
• 1:49
  Speaker 1: little bit smarter.
• 1:49
  Speaker 3: That is the ideal, isn't it.
• 1:51
  Speaker 1: That's the type of book club I really want to
• 1:52
  Speaker 1: be involved in, because like I always used to want
• 1:54
  Speaker 1: to be involved in book club, and then I realized
• 1:56
  Speaker 1: you had to read the book by the period of
• 1:58
  Speaker 1: time and that was never going to happen for me.
• 2:00
  Speaker 3: So basically, you're selling me these books, which is a
• 2:03
  Speaker 3: hard cell because you know me don't love finance. I'm kidding.
• 2:07
  Speaker 3: I love it using the money.
• 2:09
  Speaker 1: You like learning about it. I feel yeah, because like
• 2:11
  Speaker 1: once you get it, you're like, oh my god, I
• 2:13
  Speaker 1: love this, and then I'm like I'm telling you you
• 2:15
  Speaker 1: love this for a really long time, but it just
• 2:16
  Speaker 1: takes a little bit.
• 2:17
  Speaker 3: It's true, a bit, it's true. So are there different
• 2:20
  Speaker 3: categories of books that we're speaking about today?
• 2:24
  Speaker 1: These are very eclectic. None of these are sponsored posts.
• 2:27
  Speaker 1: Most of the people are either dead or they're overseas
• 2:30
  Speaker 1: so I've never met them. They're just genuinely my number ones. Also,
• 2:34
  Speaker 1: there's a book, it's the number one, that I'm going
• 2:36
  Speaker 1: to recommend again and again and again. It comes up
• 2:39
  Speaker 1: every time you ask me about books. I have already
• 2:41
  Speaker 1: done a book club on it. So I'm going to
• 2:43
  Speaker 1: gloss over it, but I'm actually going to talk about
• 2:44
  Speaker 1: it again because if we're talking about five books that
• 2:46
  Speaker 1: could change your life, like it has to be in
• 2:48
  Speaker 1: there absolutely. So do you want to know?
• 2:50
  Speaker 3: Do you want to start with number one?
• 2:51
  Speaker 1: Do you have a wine? No, it's too early for
• 2:53
  Speaker 1: a wine. It's Wednesday.
• 2:54
  Speaker 3: I've got a lightly sparkling spring water to hydrate my senses,
• 2:58
  Speaker 3: thank you, will Worth.
• 2:59
  Speaker 1: Yeah, it's nice. We are not buying brad name water.
• 3:02
  Speaker 1: Are you ready for book number one? Georgia King? All right,
• 3:05
  Speaker 1: so book number one is going to be absolutely no
• 3:07
  Speaker 1: surprise to She's on the money. Community members It is
• 3:10
  Speaker 1: the richest man in Babylon. It is by a guy
• 3:13
  Speaker 1: called George S. Klassen, and it was written George in
• 3:16
  Speaker 1: nineteen twenty six, a.
• 3:18
  Speaker 3: Long time ago, at least one hundred years.
• 3:20
  Speaker 1: The driest finance book you will read ever. Nobody actually
• 3:24
  Speaker 1: wants to pick this up. And even if you google it,
• 3:27
  Speaker 1: you're like, they didn't even try to try and convince
• 3:29
  Speaker 1: me with the cover. It looks bland. It looks like,
• 3:33
  Speaker 1: you know, when you had to read Animal Farm.
• 3:34
  Speaker 3: By George loved Animal Fair but the cover.
• 3:37
  Speaker 1: Nothing to write home about, wasn't it?
• 3:39
  Speaker 3: You googling, I'm googling, I'm live googling. Okay, I see
• 3:43
  Speaker 3: what they've done there. There's a lion walking up. Some
• 3:46
  Speaker 3: looks like a.
• 3:47
  Speaker 1: Ramp, a fancy version. Mine's just yellow and red. And
• 3:51
  Speaker 1: it's very boring. But it is the book that everybody
• 3:55
  Speaker 1: comes back to because it is the first ever finance
• 3:59
  Speaker 1: book from my own the Starning Plolice correction if I'm wrong,
• 4:01
  Speaker 1: but do it in my DM so it's not so public,
• 4:04
  Speaker 1: but it is the first book on money. Mindset is
• 4:07
  Speaker 1: the first book that really compares and contrasts rich mindset
• 4:10
  Speaker 1: and you know, daily grind mindset. It is all about
• 4:14
  Speaker 1: putting you in the best possible position by teaching you
• 4:17
  Speaker 1: the value of compound interest. And from my perspective, this
• 4:21
  Speaker 1: book is powerful because it's the first one that does that.
• 4:24
  Speaker 1: And it goes back to like Babylonian times, where it's like, okay, cool, Like,
• 4:27
  Speaker 1: let's go back to Babylonian times and actually talk about
• 4:31
  Speaker 1: what it means to invest. And they're not talking about
• 4:33
  Speaker 1: investing in shares. They're actually talking about investing in themselves
• 4:36
  Speaker 1: and putting some money away for rainy days. And you know,
• 4:39
  Speaker 1: if you're going to buy a diamond, George, would you
• 4:42
  Speaker 1: get advice from a bricklayer to do that or would
• 4:45
  Speaker 1: you go to somebody who specializes in gems. It's really
• 4:48
  Speaker 1: about mindset and getting the right advice.
• 4:50
  Speaker 3: All right, But I'm loving your passion. But I am
• 4:52
  Speaker 3: so passionate.
• 4:52
  Speaker 1: I've read this book so many times and it's so
• 4:54
  Speaker 1: dry and it doesn't get easier, but it's just good. Okay,
• 4:57
  Speaker 1: so I'll read it for you.
• 4:58
  Speaker 3: Yeah, perfect, let's liken sit down. Though in three sentences,
• 5:02
  Speaker 3: this book tells us what.
• 5:03
  Speaker 1: It tells us so much more, like I need more
• 5:05
  Speaker 1: than three sentences, but first thing that you might learn
• 5:09
  Speaker 1: from this book is that it wants you to say
• 5:11
  Speaker 1: at least ten percent of everything that you earn, and
• 5:13
  Speaker 1: it doesn't want you to confuse your necessary expenses with
• 5:16
  Speaker 1: your desires.
• 5:17
  Speaker 3: Does that sound familiar, Yes, it died.
• 5:20
  Speaker 1: The second sentence I would use is it tells you
• 5:23
  Speaker 1: to work hard to improve your skills to ensure a
• 5:25
  Speaker 1: future income, because wealth is a result of reliable income
• 5:29
  Speaker 1: stream production.
• 5:30
  Speaker 3: Interesting.
• 5:30
  Speaker 1: And then the third lesson I would say here is
• 5:32
  Speaker 1: that you cannot arrive at the fullest measure of success
• 5:35
  Speaker 1: unless you crush the spirit of procrastination within you. I
• 5:39
  Speaker 1: love that I have not achieved that I have a
• 5:43
  Speaker 1: lot of im and not do that. You need to
• 5:46
  Speaker 1: crush the spirit of procrastination. V See it's written in
• 5:50
  Speaker 1: that tone of voice as well. So it's just like
• 5:52
  Speaker 1: the highest thing. You know how Sometimes you read a
• 5:55
  Speaker 1: book and you'll be like, I need to read that
• 5:57
  Speaker 1: sentence again. Yeah, that's this book.
• 5:58
  Speaker 3: One of those. All right, it sounds like a pillar.
• 6:00
  Speaker 3: But give us the seven simple rules of money. I
• 6:02
  Speaker 3: remember we spoke about this yea now Faturday Drinks episode,
• 6:05
  Speaker 3: let's go over them again.
• 6:06
  Speaker 1: Yes we have. So there's seven simple rules. So Number one,
• 6:09
  Speaker 1: Georgia is start thy purse to fattening. Sure, so start
• 6:12
  Speaker 1: saving money. Fat wallo, we love it. Fat waller equals
• 6:15
  Speaker 1: good according to this book. Number two is control thy expenses,
• 6:18
  Speaker 1: so don't spend more than you need to. Number three
• 6:21
  Speaker 1: is make thy gold multiply and invest wisely. Number four
• 6:25
  Speaker 1: is guard thy treasures from loss, so avoid investments that
• 6:28
  Speaker 1: sound too good to be true. I feel like this
• 6:31
  Speaker 1: is all so important, and I say it's such a
• 6:33
  Speaker 1: pivotal finance book because even though it was written in
• 6:36
  Speaker 1: nineteen twenty six, it's just all valid today. Like how
• 6:39
  Speaker 1: many times have you seen people get swept up with
• 6:41
  Speaker 1: multi level marketing?
• 6:42
  Speaker 3: Yeah, because this sounds.
• 6:43
  Speaker 1: So great, I'm gonna get so rich. Oh my god,
• 6:45
  Speaker 1: I'm going to be side hustling. No, you're not, sit down, sir.
• 6:48
  Speaker 1: So Number five is make thy dwelling a profitable investment
• 6:52
  Speaker 1: and own your own home. So they're maybe not Yeah
• 6:55
  Speaker 1: that's nineteen twenty six. Like guys do here that we're
• 6:58
  Speaker 1: spending all our money on ABC now, Like okay, move on,
• 7:01
  Speaker 1: But also you could like rent out your house on AIRBNBA,
• 7:04
  Speaker 1: so maybe like we can switch that one out. Number
• 7:06
  Speaker 1: six ensure future income, so protect yourself with life insurance.
• 7:10
  Speaker 1: So obviously in nineteen twenty six they weren't talking about
• 7:12
  Speaker 1: life insurance in the same way we are, but obviously
• 7:14
  Speaker 1: very important. And then number seven is improve thy ability
• 7:17
  Speaker 1: to earn, So strive to become wiser and more knowledgeable,
• 7:20
  Speaker 1: and that will thus increase your income. Kind of cool, right,
• 7:22
  Speaker 1: incredibly Uh good tips.
• 7:25
  Speaker 3: I think that's a contribution from me. They've stood the
• 7:27
  Speaker 3: test of time.
• 7:28
  Speaker 1: And that's why I always go back to it when
• 7:31
  Speaker 1: people are like, I really want to learn about money,
• 7:32
  Speaker 1: I'm like, Okay, I know this is such a blend recommendation,
• 7:36
  Speaker 1: and that's why I've spoken about it so much on
• 7:37
  Speaker 1: the podcast. So hopefully you can learn some things and
• 7:39
  Speaker 1: maybe like follow along in the book, maybe have a
• 7:41
  Speaker 1: listen to it in the car, like an audiobook might
• 7:43
  Speaker 1: be easier. I can't imagine how dry that audiobook would be.
• 7:46
  Speaker 3: They need a fun present.
• 7:48
  Speaker 1: I'm going to get it. I'm going to do an
• 7:50
  Speaker 1: audiobook on No, I would not. It was too hard
• 7:51
  Speaker 1: to record my own.
• 7:52
  Speaker 3: Okay. Now, so we love like the longevity of his
• 7:57
  Speaker 3: tips here vibe, but why is this book so groundbreaking?
• 8:00
  Speaker 1: Because he was mad Dog, So George Georgie Boy mad Dog.
• 8:04
  Speaker 1: So he was an American. He's an American author that
• 8:06
  Speaker 1: was born in eighteen seventy four. And this is obviously
• 8:10
  Speaker 1: his best known book because it's the only one that
• 8:12
  Speaker 1: we are putting on this list. He actually had two companies,
• 8:15
  Speaker 1: of which were called the Classton Map Company, which was
• 8:18
  Speaker 1: the first to publish a road atlas in the US
• 8:21
  Speaker 1: and in Canada. And then this book, The Richest Man
• 8:23
  Speaker 1: in Babylon, actually came from him writing a series of
• 8:26
  Speaker 1: informational pamphlets about being thrifty and how to achieve financial success,
• 8:30
  Speaker 1: and then it became a book. Kind of cool, Ah,
• 8:32
  Speaker 1: there you go. So how the podcast became a book?
• 8:35
  Speaker 1: When She's on the money?
• 8:36
  Speaker 3: It all ties to kill.
• 8:37
  Speaker 1: Me classen, I love it. But he started writing pamphlets
• 8:41
  Speaker 1: in nineteen twenty six and then used parables that were
• 8:43
  Speaker 1: set in ancient Babylon to kind of teach people. And
• 8:46
  Speaker 1: then this all rolled into The Richest Man in Babylon,
• 8:48
  Speaker 1: which is called The Richest Man in Babylon The Success
• 8:51
  Speaker 1: Secrets of the Ancients. And then he's the guy who
• 8:54
  Speaker 1: has been credited to coining the phrase pay yourself first. Ah,
• 8:58
  Speaker 1: kind of cool.
• 8:59
  Speaker 3: Wow, there you go. Yeah, a good recap of the
• 9:02
  Speaker 3: richest man in Babylon. Yeah, shall we move on to
• 9:05
  Speaker 3: a Rich Dad, Poor Dad?
• 9:06
  Speaker 2: Oh?
• 9:07
  Speaker 1: I just out of all right, Well that is number
• 9:11
  Speaker 1: two for any of those who wanted any.
• 9:13
  Speaker 3: Type of weight.
• 9:14
  Speaker 1: But yes, we're going to talk about Rich Dad, Poor
• 9:16
  Speaker 1: Dad by Robert Kiyosaki. And that was written in nineteen
• 9:20
  Speaker 1: ninety seven. You're alive, then, won't you. Yeah, you're only small.
• 9:24
  Speaker 3: I was three, I was six. Okay, we could have
• 9:27
  Speaker 3: been such good little friends. Yeah, we would have been
• 9:30
  Speaker 3: little angels.
• 9:31
  Speaker 1: We wouldn't have shut down. I was like that older
• 9:34
  Speaker 1: annoying cousin. I okay, yeah that was me.
• 9:37
  Speaker 3: And so it goes on. This book has been.
• 9:40
  Speaker 1: Very popular in our community. It is a book that
• 9:43
  Speaker 1: so many people recommend. We've had a few threads in
• 9:46
  Speaker 1: our Facebook group historically where people have been like, recommend
• 9:48
  Speaker 1: your favorite finance books, and this one often comes up
• 9:51
  Speaker 1: as number one for very good reason.
• 9:53
  Speaker 3: Tell me in three sentences why.
• 9:55
  Speaker 1: I feel like this three sentences? What you're really attached to,
• 9:59
  Speaker 1: isn't it?
• 9:59
  Speaker 3: Yeah?
• 10:00
  Speaker 1: So, Rich Dad, Poor Dad is about Robert Kiyosaki and
• 10:03
  Speaker 1: his two dads. So his actual real father. He's what
• 10:06
  Speaker 1: he calls in the book poor Dad, and the father
• 10:09
  Speaker 1: of his best friend who is known as rich Dad.
• 10:11
  Speaker 1: And the entire book is about the ways both of
• 10:14
  Speaker 1: these men have shaped his mindset around money and investing
• 10:18
  Speaker 1: and life and how they approach different circumstances. And it
• 10:22
  Speaker 1: really compares and contrasts like rich spending versus poor spending.
• 10:27
  Speaker 1: So you've probably seen me talk historically about you know,
• 10:30
  Speaker 1: obviously we go back to George's book and call it
• 10:33
  Speaker 1: pay yourself first, but paying yourself first and investing and
• 10:37
  Speaker 1: saving before spending the leftover, whereas poor spending is really
• 10:40
  Speaker 1: about spending and then saving and investing what's left over.
• 10:45
  Speaker 1: So it's about kind of flipping those mentalities and what
• 10:48
  Speaker 1: one works better. And I think that it's obvious we
• 10:52
  Speaker 1: all want to create wealth, and we all say pay
• 10:54
  Speaker 1: yourself first and invest first, because if you allocate it first,
• 10:57
  Speaker 1: it's going to be the priority. And that makes sense,
• 10:59
  Speaker 1: and that's what this book is about. So it's really
• 11:01
  Speaker 1: about the ways that both of these men interacted. And
• 11:04
  Speaker 1: then Robert's kind of like this third party to the
• 11:07
  Speaker 1: conversation where he kind of interprets what that means and
• 11:11
  Speaker 1: compares the dads against themselves. There's a few things in
• 11:13
  Speaker 1: it that I don't love, because I obviously don't love
• 11:15
  Speaker 1: comparing and contrasting. And there's obviously a lot of privilege
• 11:18
  Speaker 1: that comes from wealth that I don't think gets acknowledged
• 11:21
  Speaker 1: in this book. But I do think it is quite
• 11:24
  Speaker 1: powerful when it comes to mindset. And you'll probably notice
• 11:27
  Speaker 1: that when I talk about money and talk about investing,
• 11:30
  Speaker 1: I'm not here going read this investing for beginner's guide.
• 11:33
  Speaker 1: We'll get to that, but I'm not telling you to
• 11:36
  Speaker 1: read that book because I actually really want to set
• 11:39
  Speaker 1: your mindset up properly before we get into investing, because
• 11:43
  Speaker 1: what's the point in getting you to invest if you
• 11:45
  Speaker 1: don't see the point? And what's the point in getting
• 11:47
  Speaker 1: you to invest if you don't have the right framework
• 11:49
  Speaker 1: and structure and mindset around it. That second sentence, because
• 11:52
  Speaker 1: like this, that was the first one. The second one
• 11:56
  Speaker 1: is that you don't need a high income to become rich,
• 11:58
  Speaker 1: which is pivotal in the show on the Money community, like,
• 12:01
  Speaker 1: we're not actually trying to get rich here, We're actually
• 12:03
  Speaker 1: trying to create wealth. But to create wealth, we actually
• 12:06
  Speaker 1: don't need a high income it's really about what you
• 12:09
  Speaker 1: are spending, not about what you are earning. I've said
• 12:12
  Speaker 1: this a million times, Like somebody who is earning less
• 12:15
  Speaker 1: but investing a fair bit is going to end up
• 12:18
  Speaker 1: long term in a better position than someone who has
• 12:20
  Speaker 1: a ridiculously high income and he's living their best life
• 12:23
  Speaker 1: and blowing it all. Yeah. The third sentence that I
• 12:26
  Speaker 1: would say summarizes this book is that rich people make
• 12:29
  Speaker 1: their money work for them. And I say this all
• 12:32
  Speaker 1: the time. Make your money work as hard as you
• 12:34
  Speaker 1: do for it, so it's not just sitting in a
• 12:36
  Speaker 1: bank account waiting for you to spend it one day.
• 12:39
  Speaker 1: It's out earning something. Every dollar in your account needs
• 12:42
  Speaker 1: to have a job. And that is, you know, one
• 12:45
  Speaker 1: of the other pivotal things in that book that I
• 12:48
  Speaker 1: think is really important, Like where is that dollar going
• 12:50
  Speaker 1: to work? George? It might actually be going to work
• 12:52
  Speaker 1: in a emergency fund, in which case it's job is
• 12:55
  Speaker 1: to sit there and wait for it to be spent
• 12:58
  Speaker 1: on a rainy day. But if it's an income generating
• 13:00
  Speaker 1: dollar that's coming, what is that going to do? How
• 13:03
  Speaker 1: is it going to work for you? And I think
• 13:04
  Speaker 1: that those those are my three very loving takeaways sentences
• 13:07
  Speaker 1: from that book.
• 13:09
  Speaker 3: When he talks about rich Dad in She's on the
• 13:12
  Speaker 3: Money language, would we call that wealthy Dad, because you
• 13:15
  Speaker 3: know if rich is like, yeah, I think image of
• 13:18
  Speaker 3: wealth where his wealth is actually actual financial freedom.
• 13:21
  Speaker 1: Would you you are? You are on the money, Georgia King,
• 13:24
  Speaker 1: Thank you so much. But yeah, I do steer away
• 13:26
  Speaker 1: from using words like rich because I think rich is
• 13:29
  Speaker 1: very It's the Chanel bag. Yes, it's the visual markers
• 13:33
  Speaker 1: of money that don't necessarily mean you are in a
• 13:36
  Speaker 1: better financial position. It's you know, I would like to
• 13:40
  Speaker 1: think that influencers. I would love to think that all
• 13:43
  Speaker 1: my influencer clients actually wealthy, but like it's kind of
• 13:46
  Speaker 1: seeing influences where dere and Prada and all of these
• 13:48
  Speaker 1: fancy brands all the time it's rich, it's just stuff,
• 13:52
  Speaker 1: like it's not actually putting them in a better position.
• 13:54
  Speaker 1: I think underlyingly, everybody needs to be working towards wealth,
• 13:57
  Speaker 1: not richness, because it's actually wealth is hidden. It shouldn't
• 14:02
  Speaker 1: be private, but it's definitely hidden and you just don't
• 14:05
  Speaker 1: see it. Like Georgie, walk down the street and I've
• 14:06
  Speaker 1: got no idea what's in your savings account? I've got
• 14:08
  Speaker 1: no idea what you're investing in. And that's cool, But
• 14:11
  Speaker 1: like you walk down the street of a Chanel bag
• 14:13
  Speaker 1: and everyone knows you're carrying ten grand, Like, that's not
• 14:16
  Speaker 1: putting you in a better financial position. So I think
• 14:18
  Speaker 1: wealth is all about future you, and rich is all
• 14:21
  Speaker 1: about today you and their actual needs. And that's not
• 14:23
  Speaker 1: nearly as sexy. One hundred percent. The five big ideas
• 14:27
  Speaker 1: from Robert Kosaki's book lay the Money. Number one, the
• 14:31
  Speaker 1: poor and the middle class work for money. The rich
• 14:34
  Speaker 1: have money at work for them. Number two is it's
• 14:37
  Speaker 1: not how much money you make that matters, it's how
• 14:39
  Speaker 1: much you get to keep. Number three. Rich people acquire assets,
• 14:43
  Speaker 1: the poor and middle class acquire liabilities that they think
• 14:47
  Speaker 1: are assets. Yeah, it's a bit of a savage point,
• 14:51
  Speaker 1: isn't it. Number four Financial aptitude is what you do
• 14:55
  Speaker 1: with money once you make it, how you keep people
• 14:58
  Speaker 1: from taking it from you, how to keep it longer,
• 15:01
  Speaker 1: and how to make money work harder for you. So
• 15:04
  Speaker 1: you're kind of getting the vibe of what this book
• 15:06
  Speaker 1: is all about with fourth point, which is basically the
• 15:08
  Speaker 1: same as the first three, and then number five is
• 15:11
  Speaker 1: the single most powerful asset we all have is our minds?
• 15:15
  Speaker 3: So true?
• 15:15
  Speaker 1: Kind of cool.
• 15:16
  Speaker 3: So this is very much like a mindset book and
• 15:20
  Speaker 3: understanding how we relate to money.
• 15:22
  Speaker 1: Yet you're probably not surprised that the case.
• 15:24
  Speaker 3: But yes, what are some of the key vibes in
• 15:27
  Speaker 3: the book that are knocked your socks off?
• 15:29
  Speaker 1: My favorite one is so I'm all about like behavioral
• 15:33
  Speaker 1: investment and like emotional investment. I talk about this a lot.
• 15:36
  Speaker 1: And the first one is that quote people's lives are
• 15:39
  Speaker 1: forever controlled by two emotions, fear and greed. The next
• 15:43
  Speaker 1: thing that I really liked was quote, so many people say, oh,
• 15:47
  Speaker 1: I'm not interested in money, yet they'll work a job
• 15:49
  Speaker 1: for eight hours a day. That kicks you in the
• 15:53
  Speaker 1: shins a little bit. You're like, yeah, I don't care
• 15:55
  Speaker 1: about money. Oh gayb'll blay you're going to earn it.
• 15:57
  Speaker 1: Then the next one is an asset puts money in
• 16:00
  Speaker 1: your pocket. A liability takes money out of your pocket.
• 16:02
  Speaker 3: Makes sense.
• 16:03
  Speaker 1: And then the last one that I thought was pretty
• 16:05
  Speaker 1: powerful is, once you understand the difference between assets and liabilities,
• 16:09
  Speaker 1: concentrate your efforts on buying income generating assets. Nice, I wrote,
• 16:14
  Speaker 1: sheese on the money, and that's just basically like, here's
• 16:16
  Speaker 1: how to do your banking, here's how to set all
• 16:17
  Speaker 1: of this up, and like I basically just borrowed all
• 16:19
  Speaker 1: of these people's hot tips.
• 16:20
  Speaker 3: And puts in them and we will get to that feed.
• 16:22
  Speaker 3: You want to give us an example of an asset
• 16:25
  Speaker 3: and a liability.
• 16:26
  Speaker 1: Yes, Sexy, we spoke about this the other week when
• 16:28
  Speaker 1: we were talking about financial reporting and we were talking
• 16:31
  Speaker 1: about profit and loss. But essentially, an asset is something
• 16:34
  Speaker 1: that's going to do one of two things for you.
• 16:35
  Speaker 1: It's either going to be able to be sold for
• 16:37
  Speaker 1: money or is going to be able to generate you
• 16:39
  Speaker 1: in income. So that could be like an investment property,
• 16:42
  Speaker 1: it could be a share, it could be money in
• 16:43
  Speaker 1: your bank account, it could be something that's helping you,
• 16:45
  Speaker 1: whereas a liability is something that's going to cost you money.
• 16:48
  Speaker 1: You could think in earlier we said, you know, poor
• 16:52
  Speaker 1: people get confused and think that liabilities are actually assets
• 16:55
  Speaker 1: a car loan where they're like, oh, but I get
• 16:57
  Speaker 1: the car. Well, it actually decreases in value over time
• 17:01
  Speaker 1: and you're not actually getting that much out of your
• 17:03
  Speaker 1: actually ending up in a worse off position. And that's
• 17:05
  Speaker 1: one of the things that grinds my gears when people
• 17:07
  Speaker 1: are like yeah, but I like, I'll own the car outright,
• 17:09
  Speaker 1: and I'm like, yeah, after how much money is poured
• 17:11
  Speaker 1: into it? Okay sir. Yeah, it's being confused about wealth
• 17:15
  Speaker 1: assets as well, So spending money on things that you
• 17:18
  Speaker 1: can't get back. Another thing would be like credit card debt,
• 17:21
  Speaker 1: so they'll be like, oh, just paid off later, and
• 17:23
  Speaker 1: it's kind of like, no, that's actually a massive liability,
• 17:25
  Speaker 1: putting you further behind on the wealth creation journey. So
• 17:28
  Speaker 1: a liability is something that puts you in debt or
• 17:30
  Speaker 1: keeps you in debt, and asset is something that creates
• 17:32
  Speaker 1: income for you.
• 17:33
  Speaker 3: Perfect cool. Before we move on to our next book, fee,
• 17:36
  Speaker 3: which I won't spoil, can you tell us a little
• 17:39
  Speaker 3: bit about mister Robert Kyosaki.
• 17:41
  Speaker 1: I can. I feel like his name has gotten a
• 17:44
  Speaker 1: pretty bad rap recently because there have been a number
• 17:47
  Speaker 1: of like what would you call them, like workshops and
• 17:50
  Speaker 1: things that are run under his name. So it's like
• 17:53
  Speaker 1: rich dad, poor dad. Workshops around the world have kind
• 17:55
  Speaker 1: of taken off and they actually have nothing to do
• 17:58
  Speaker 1: with him. Really. Yeah, they're like investing scheme things. You've
• 18:02
  Speaker 1: got to be really careful, Like the book is good,
• 18:04
  Speaker 1: but the workshops not so good. They'll like take you
• 18:07
  Speaker 1: along and like sell you an investment dream and tell
• 18:10
  Speaker 1: you all the principles of this book and how great
• 18:11
  Speaker 1: it is. And then they'll be like, but you need
• 18:12
  Speaker 1: to invest your ro It's twenty thousand dollars upfront. Sign
• 18:15
  Speaker 1: here on the dogline and it's actually terrifying. So don't
• 18:17
  Speaker 1: do that. But tell you a little bit about Robert himself.
• 18:21
  Speaker 1: He's an entrepreneur and an investor and author who teaches
• 18:24
  Speaker 1: financial literacy, what a guy and independence through books, videos,
• 18:27
  Speaker 1: and seminars. So he started off being very good. He
• 18:31
  Speaker 1: is a Hawaiian. He was born in nineteen forty seven
• 18:34
  Speaker 1: and went into the military. He actually also served in Vietnam,
• 18:37
  Speaker 1: which is very powerful. And then in nineteen seventy seven
• 18:41
  Speaker 1: he started a company that brought to market the first
• 18:43
  Speaker 1: nylon and Velcrow surfers wallets.
• 18:46
  Speaker 3: I love Velcrow wallets.
• 18:47
  Speaker 1: Do you do you still have one? I used to
• 18:49
  Speaker 1: have a roxy one and it was like with red
• 18:51
  Speaker 1: edging girl, but like, do you remember the fabric that
• 18:55
  Speaker 1: their wallets were made out of? And if you got
• 18:57
  Speaker 1: the velcro on the wrong part of the wallet. The
• 18:59
  Speaker 1: wallet kind of ended up a little bit. Yeah, it
• 19:01
  Speaker 1: was really messy, but I didn't want to get a
• 19:03
  Speaker 1: new one because they were really expensive. Down a Poincila Surf.
• 19:05
  Speaker 3: So financiala surf. I love it.
• 19:08
  Speaker 1: Me and my trigger track is and my Havanas walking
• 19:10
  Speaker 1: into pinitial A Surf to get a new wallet.
• 19:12
  Speaker 3: Coolest girl.
• 19:14
  Speaker 1: But essentially that company did end up going bankrupt. George,
• 19:19
  Speaker 1: we were so I was so excited about the wallets.
• 19:22
  Speaker 1: We were the only ones that loved that. But that
• 19:25
  Speaker 1: company did go bankrupt, as did his second company, I'm sorry.
• 19:29
  Speaker 1: Before he started teaching entrepreneurship investing in social responsibility, which
• 19:33
  Speaker 1: I find a bit rich from a guy who.
• 19:35
  Speaker 3: Has canceled that. That is bizarre that someone with failed
• 19:39
  Speaker 3: businesses could become such a famous entrepreneur.
• 19:43
  Speaker 1: I feel like this is so common, and I really.
• 19:47
  Speaker 3: Feel like, go throw someone under the bush.
• 19:50
  Speaker 1: Do this on this podcast all the time. This is
• 19:52
  Speaker 1: why we have next to no sponsors because I've already
• 19:55
  Speaker 1: burnt them all. It's one of those things where I
• 19:58
  Speaker 1: always find it really interesting. In this twenty twenty two
• 20:02
  Speaker 1: it's about the life coach, right, Yeah, like the life
• 20:04
  Speaker 1: coach and the business coach. And stuff, and I'm all
• 20:06
  Speaker 1: about it, Like I'm someone who really I love mentoring
• 20:10
  Speaker 1: and I love having a mentor and learning from them,
• 20:12
  Speaker 1: but like, can we please do some credential checks before
• 20:14
  Speaker 1: we hire our life coaches. Just because they've got a
• 20:17
  Speaker 1: good social following doesn't mean they've actually ever run a
• 20:19
  Speaker 1: good business. And the amount of times I've seen people
• 20:22
  Speaker 1: pop up being like hey, they like if you ever
• 20:24
  Speaker 1: need a business coach like I do, Xyz and I
• 20:26
  Speaker 1: have a look and I'm like, when have you ever
• 20:29
  Speaker 1: run a business? Like when have you done? Like where
• 20:31
  Speaker 1: did you get this knowledge from? Like how am I
• 20:33
  Speaker 1: learning from you? So I think that it's just a
• 20:35
  Speaker 1: good Obviously he's got a good book and all of
• 20:38
  Speaker 1: those principles are really good. But as I prefaced at
• 20:40
  Speaker 1: the start of when you asked me about him, I
• 20:42
  Speaker 1: was like, oh, this semen I was, are a little
• 20:43
  Speaker 1: bit like left field and not something I would really
• 20:46
  Speaker 1: like this she's on the money community to engage in.
• 20:48
  Speaker 1: I think it's just important to always question where if
• 20:50
  Speaker 1: people come from, like who are they, what do they do?
• 20:53
  Speaker 1: Why would they be putting this information in front of me?
• 20:55
  Speaker 1: And I think that second guessing everything is not a
• 20:58
  Speaker 1: bad trait to have. I'm very much it's a glass
• 21:00
  Speaker 1: huff full person, but like that's me giving you a
• 21:03
  Speaker 1: glass half empty kind of tip.
• 21:05
  Speaker 3: It's good to be cynical.
• 21:06
  Speaker 1: I think you have to be in this world, especially
• 21:08
  Speaker 1: around money and especially around business, and you can just
• 21:11
  Speaker 1: get caught up so quickly being like, but this is great,
• 21:13
  Speaker 1: this is such a good idea. You're right, this makes sense.
• 21:15
  Speaker 1: But like, why is this other person teaching me that? Like,
• 21:18
  Speaker 1: how do they profit? Because at the end of the day,
• 21:21
  Speaker 1: not everything in the world is free, and yeah, someone somewhere,
• 21:25
  Speaker 1: somehow is making money precisely.
• 21:27
  Speaker 3: All right, On that note, let's move on to our
• 21:29
  Speaker 3: third book of the day. V I'll let you reveal
• 21:31
  Speaker 3: this one.
• 21:32
  Speaker 1: None of these are by women, and it's so annoying.
• 21:35
  Speaker 1: If more women could write more investing books, that would
• 21:37
  Speaker 1: be great. The next book, it's by our friend Benjamin Graham.
• 21:40
  Speaker 1: It's from nineteen forty nine and it's called The Intelligent Investor.
• 21:44
  Speaker 1: That's also really dry.
• 21:46
  Speaker 3: Surprise, surprise.
• 21:48
  Speaker 1: I bought the audiobook of this and just got through
• 21:50
  Speaker 1: the first chapter, didn't like it, read the.
• 21:52
  Speaker 3: Book, loved it, So that's interesting.
• 21:54
  Speaker 1: Yeah, I mean, I feel like audiobooks are something that
• 21:56
  Speaker 1: I really connect with because I can listen to them
• 21:58
  Speaker 1: in the car. Yeah, but listening to an investing book.
• 22:02
  Speaker 3: I feel like I've just zone out. I feel like also.
• 22:04
  Speaker 1: Shooting myself in the foot as someone who in September
• 22:07
  Speaker 1: has an investing book coming out that will also have
• 22:09
  Speaker 1: an audiobook that I will read.
• 22:11
  Speaker 3: Yeah, yeah, it's going to be bored.
• 22:14
  Speaker 1: Don't bother with that.
• 22:15
  Speaker 3: You've got fun in snazzy presentation style. Girl wonderful, tell
• 22:21
  Speaker 3: me about the Intelligent Investor?
• 22:23
  Speaker 1: All right, So I like this book because it kind
• 22:24
  Speaker 1: of starts to go. So we've had some mindset books.
• 22:27
  Speaker 1: We had two mindset books, and now this book kind
• 22:29
  Speaker 1: of goes into the actual semantics of being a good
• 22:33
  Speaker 1: investor and what that means. So the first sentence I
• 22:37
  Speaker 1: have come up with is this book really focuses on
• 22:39
  Speaker 1: long term and more risk averse approaches. So Benjamin, he
• 22:43
  Speaker 1: focuses on investments that are based on research rather than speculation,
• 22:47
  Speaker 1: which is based on predictions. And so I like that
• 22:50
  Speaker 1: because again, this is the crux of investing, and I
• 22:53
  Speaker 1: think too many times people really skim over mindset, they
• 22:57
  Speaker 1: really skim over strategy and structure. And they go straight
• 22:59
  Speaker 1: to which ETF should I buy Victoria, I'm like, no, no, no,
• 23:03
  Speaker 1: Let's take a few steps back and learn about where
• 23:05
  Speaker 1: we're coming from and what our strategy looks like. And
• 23:06
  Speaker 1: these books, I feel like like the foundational building blocks
• 23:09
  Speaker 1: of how we get there. The second sentence I've come
• 23:12
  Speaker 1: up with is the Intelligent Investor provides guidance on how
• 23:15
  Speaker 1: to get involved in value investing and how you can
• 23:18
  Speaker 1: prevent the market from dictating your financial decisions.
• 23:21
  Speaker 3: What's value investing?
• 23:22
  Speaker 1: So value investing is really about getting the best value
• 23:26
  Speaker 1: for your money, essentially, and I think that it really
• 23:28
  Speaker 1: goes back to those behavioral markets and emotional investing journeys
• 23:32
  Speaker 1: that a lot of us are on, where we go, oh,
• 23:34
  Speaker 1: they got bitcoin wild, like everybody else is buying it,
• 23:37
  Speaker 1: I'm going to buy it. That was a terrible idea.
• 23:40
  Speaker 1: And so it's really about understanding how the markets perform
• 23:44
  Speaker 1: and how media picks up on the way markets perform,
• 23:47
  Speaker 1: and how that kind of structures your perception of what's
• 23:51
  Speaker 1: going on. So it's really about actually looking for the
• 23:54
  Speaker 1: value in a company and breaking it down and going
• 23:56
  Speaker 1: what does the profit and loss look like, what does
• 23:57
  Speaker 1: the balance sheet look like, how does this work and
• 24:00
  Speaker 1: how does this fit together? How does this work for
• 24:02
  Speaker 1: my strategy as opposed to, oh my god, I heard
• 24:04
  Speaker 1: the afterpay that was a good share to buy? Does
• 24:07
  Speaker 1: that make sense? Yea. So it's really about finding the
• 24:09
  Speaker 1: value in a company instead of just getting caught up
• 24:12
  Speaker 1: in the emotional journey that a lot of us go on.
• 24:15
  Speaker 1: And the same can be said for you know, once
• 24:17
  Speaker 1: you have something about whether you dispose of it or not,
• 24:20
  Speaker 1: so whether you sell an asset and when and how
• 24:23
  Speaker 1: that works? Yeap makes sense?
• 24:25
  Speaker 3: Sure?
• 24:25
  Speaker 1: Cool? Number three is this book also really I guess,
• 24:31
  Speaker 1: captures that by understanding your financial position and your goals,
• 24:35
  Speaker 1: you can then actually make effective decisions about how you
• 24:38
  Speaker 1: manage your money, which I just feel like as a
• 24:40
  Speaker 1: no brainer, But we actually have to learn that. We
• 24:42
  Speaker 1: can't just be told that. It's just got a really
• 24:45
  Speaker 1: good big piece that teaches you how to super understand
• 24:49
  Speaker 1: your financial position and your goals and what that means
• 24:51
  Speaker 1: and how to make effective decisions on where you want
• 24:53
  Speaker 1: to go and what you want to do.
• 24:54
  Speaker 3: Any chatting there about money stories.
• 24:57
  Speaker 1: No, no money story, No, why would they do that?
• 24:59
  Speaker 1: That's very shees on them?
• 25:00
  Speaker 3: Well, it is but like understanding your financial position and goals.
• 25:02
  Speaker 3: I guess that's more the tangible stuff rather than like
• 25:05
  Speaker 3: understanding yourself and your behaviors.
• 25:07
  Speaker 1: Yeah, and I think it is definitely less fluffy than
• 25:10
  Speaker 1: the way She's On the Money would present it. It's
• 25:13
  Speaker 1: definitely about goals and setting a goal and here's the
• 25:16
  Speaker 1: structure to achieve that goal. It's not really about understanding
• 25:19
  Speaker 1: your base values and goals and just like do you
• 25:21
  Speaker 1: know what I mean? It's like not as fluffy, but
• 25:23
  Speaker 1: it is a good structure and a good framework to
• 25:26
  Speaker 1: start basing decision making on. And some people thrive on that.
• 25:30
  Speaker 1: Some people want something a little bit more sterile than
• 25:33
  Speaker 1: oh my gosh, I really understand my money story and
• 25:35
  Speaker 1: where I've come from, because do you know what, there
• 25:36
  Speaker 1: are some people who are just not ready for their
• 25:38
  Speaker 1: money stories. There are some people who just don't want
• 25:40
  Speaker 1: to face that music because it can be hard, and
• 25:42
  Speaker 1: as you see on our Money Diaries episodes like they're complex.
• 25:47
  Speaker 1: They're not just complex, but they're emotional and they're hard,
• 25:50
  Speaker 1: and working through your money story it's just not something
• 25:53
  Speaker 1: that everybody is ready for or even wants to delve into.
• 25:56
  Speaker 1: So I think that this is quite a good way
• 25:59
  Speaker 1: of going on. Well, he's how to understand a financial
• 26:01
  Speaker 1: position and goals and work towards them. I do obviously
• 26:04
  Speaker 1: think it's far more powerful. You're going to understand the
• 26:06
  Speaker 1: background to all of that. But you get what you
• 26:08
  Speaker 1: get and you don't get upset.
• 26:09
  Speaker 3: George. That's it, isn't it, mate. Let's talk about the
• 26:12
  Speaker 3: key points of the book. If we can just run
• 26:14
  Speaker 3: through them quickly.
• 26:15
  Speaker 1: We can, all right, So first things first, the issue
• 26:18
  Speaker 1: with inflation. So inflation is really important to take into
• 26:21
  Speaker 1: consideration and has been a very hot topic in our
• 26:23
  Speaker 1: community recently because of the rising cost of living and
• 26:26
  Speaker 1: how much inflation is going to be applied to our
• 26:28
  Speaker 1: help debts. So inflation is important. But essentially cash becomes
• 26:32
  Speaker 1: less valuable over time, and a dollar today is not
• 26:35
  Speaker 1: worth what a dollar tomorrow is worth. So for example,
• 26:39
  Speaker 1: a dollar ten years ago is worth more than a
• 26:42
  Speaker 1: dollar today. Therefore, instead of holding on to cash, Benny,
• 26:47
  Speaker 1: our mate, Benny, he says, we must be investing cash
• 26:49
  Speaker 1: so that we can beat inflation. And despite this, the
• 26:52
  Speaker 1: majority of investors don't take inflation into account, which is
• 26:55
  Speaker 1: so important. And I'm obviously going to promote my own
• 26:58
  Speaker 1: book later. But I have just spent so long calculating
• 27:03
  Speaker 1: out the difference of taking into consideration inflation and not
• 27:07
  Speaker 1: taking it into consideration. And my friends, I am telling
• 27:09
  Speaker 1: you right now, is the difference between a comfortable and
• 27:11
  Speaker 1: a very uncomfortable retirement.
• 27:13
  Speaker 3: Really, there you go.
• 27:14
  Speaker 1: Absolutely. The next is really based on property, So it's
• 27:17
  Speaker 1: that essentially real estate investment trusts can overcome inflation. So
• 27:21
  Speaker 1: that's an interesting point to take into consideration, but also
• 27:25
  Speaker 1: important to remember that this book was written in nineteen
• 27:28
  Speaker 1: forty nine and property has significantly changed, So let's take
• 27:32
  Speaker 1: that point with a very large grain of salt. The
• 27:35
  Speaker 1: next is that choosing which type of investor you should
• 27:37
  Speaker 1: become is based on your willingness to put in time
• 27:40
  Speaker 1: and energy and effort into your portfolio and circumstances, and
• 27:43
  Speaker 1: don't let your age deside. The next is defensive investing.
• 27:47
  Speaker 1: So a defensive investor should apparently have a minimum of
• 27:51
  Speaker 1: twenty five percent of their savings in bonds and then
• 27:54
  Speaker 1: a maximum of seventy five percent of their savings in chess.
• 27:57
  Speaker 3: Do you agree with that?
• 27:58
  Speaker 1: Not necessarily, but it's an interesting point to be taken.
• 28:01
  Speaker 1: The next year is our mate Benny advises on how
• 28:03
  Speaker 1: to actually invest in stocks. So, for example, day trading
• 28:06
  Speaker 1: is really risky, so I think talking about what type
• 28:10
  Speaker 1: of stock investment you're going to do, so for example,
• 28:13
  Speaker 1: working out what type of share investing is going to
• 28:15
  Speaker 1: work best for you, and like I guarantee you, even
• 28:18
  Speaker 1: though this was written in nineteen forty nine, day trading,
• 28:20
  Speaker 1: it's still not Probably the best idea can be a
• 28:23
  Speaker 1: little bit fun. Your mate over this side of the table,
• 28:26
  Speaker 1: Georgia King loves to have a dabble, but it is
• 28:29
  Speaker 1: very risky. We aren't going to do that for our retirement.
• 28:32
  Speaker 1: So I think that's a very good point. The next
• 28:34
  Speaker 1: is to adopt an evidence based approach when investing, really important,
• 28:39
  Speaker 1: evidence based, Like it's not sexy, this investing stuff, Like
• 28:44
  Speaker 1: it's just not and I wish I could make it sexy.
• 28:47
  Speaker 1: But the sexier and investing strategy sounds, the more risky
• 28:50
  Speaker 1: it is likely to be. And the best type of
• 28:53
  Speaker 1: investments are so boring, it's so bland, Like you shouldn't
• 28:57
  Speaker 1: be looking at your investing portfolio and having this absolutely
• 29:00
  Speaker 1: emotional rollercoaster every time you look. It should be like, oh, yeah,
• 29:03
  Speaker 1: there she is.
• 29:03
  Speaker 3: That's true. So it's like a boring old marriage. You've
• 29:06
  Speaker 3: been together thirty years, true, she's tested, Yeah, not cheated
• 29:11
  Speaker 3: on me?
• 29:12
  Speaker 2: Yeah?
• 29:12
  Speaker 3: Perfect, Yeah, exactly.
• 29:13
  Speaker 1: What you don't want to a bad boy, No bad
• 29:16
  Speaker 1: breaks our heart, No bad boys who break our hearts exactly.
• 29:20
  Speaker 1: I guess is that you can make a lot of
• 29:22
  Speaker 1: money off market volatility, but you should never sell your
• 29:26
  Speaker 1: stocks in a panic.
• 29:27
  Speaker 3: We know that, Yeah, be true.
• 29:29
  Speaker 1: Absolutely. And the next next by which I've included, but
• 29:35
  Speaker 1: I don't really like it.
• 29:37
  Speaker 3: What is it?
• 29:37
  Speaker 1: Pee, it's don't trust and just be careful about using
• 29:40
  Speaker 1: financial advisors. Interesting, But I think that that's really valid
• 29:45
  Speaker 1: because when this book was written, there was no obligation.
• 29:49
  Speaker 1: And if we actually go back to nineteen forty nine
• 29:51
  Speaker 1: and what financial advice used to be, so financial advice
• 29:54
  Speaker 1: actually came out of selling insurance. It never actually came
• 29:57
  Speaker 1: out of putting people in the best possible financial position.
• 30:00
  Speaker 1: Financial advisors literally existed to sell life insurance policies, and
• 30:03
  Speaker 1: to me, they were all snakes. That is why this
• 30:06
  Speaker 1: industry has had to have such a turnaround and such
• 30:09
  Speaker 1: a different mindset. And nowadays financial advisors are not in
• 30:14
  Speaker 1: it to just sell product, whereas historically that's what it was.
• 30:17
  Speaker 1: They would sell you product, they would take insurance, they
• 30:20
  Speaker 1: would sell you anything under the sun. And nowadays that
• 30:23
  Speaker 1: is so incredibly different. Obviously, there are a lot of
• 30:26
  Speaker 1: good eggs, like this guy who wrote this book. He
• 30:28
  Speaker 1: was a great guy. But it's so important to you know,
• 30:31
  Speaker 1: always be wary. And that's why we're always like, check
• 30:33
  Speaker 1: that your financial advisor is actually registered. Check how many
• 30:37
  Speaker 1: people are actually happy with that financial advisor, like go fishing.
• 30:41
  Speaker 1: It's kind of like finding a good doctor. If you're
• 30:43
  Speaker 1: not comfortable talking to them, how are you going to
• 30:45
  Speaker 1: tell them your deepest, darkest goals and secrets and powers
• 30:47
  Speaker 1: and like it Just definitely take it with a grain
• 30:50
  Speaker 1: of salt, but yeah, do need to probably be really
• 30:52
  Speaker 1: transparent and tell you that he said, Beau about using
• 30:54
  Speaker 1: financial advisors of it.
• 30:56
  Speaker 3: But as you said, the context of the year in
• 30:59
  Speaker 3: which he wrote this stuff really come into play, so.
• 31:01
  Speaker 1: One hundred percent, And to be honest, that still exists today.
• 31:04
  Speaker 1: Because who's your best mate, George Accadic? She's not your
• 31:07
  Speaker 1: best mate, but who was Melissa Caadic?
• 31:08
  Speaker 3: So Melissa Kadick was in quotation marks a financial advisor,
• 31:13
  Speaker 3: but she wasn't really she was a silly little missy
• 31:16
  Speaker 3: who ripped off full of her family and friends. She
• 31:19
  Speaker 3: stole millions and millions of dollars from them.
• 31:21
  Speaker 1: There's a really good podcast out right now, yes by
• 31:24
  Speaker 1: the Sydney Morning Herald, and I am obsessed with it.
• 31:27
  Speaker 1: But I would absolutely go listen to that. But also
• 31:30
  Speaker 1: kind of scary because she quite it was like mainly
• 31:32
  Speaker 1: her friends and family as well, she was investing. She
• 31:36
  Speaker 1: ripped them all off, she took their money, and then
• 31:38
  Speaker 1: she disappeared. Yep, she'd been found.
• 31:41
  Speaker 3: No, her foot has been found.
• 31:43
  Speaker 1: It was actually confirmed her foot. I haven't got that
• 31:44
  Speaker 1: far into the podcast. Oly god, let's move away from this,
• 31:47
  Speaker 1: but it's a really spicy podcast series. But essentially she
• 31:50
  Speaker 1: was faking being a financial adviser and taking people's money
• 31:53
  Speaker 1: and that was only happening what last year. I think
• 31:55
  Speaker 1: her foot was found in like twenty twenty one or
• 31:57
  Speaker 1: something wild crasically run away for that.
• 32:00
  Speaker 3: But the way that she did that all was by
• 32:01
  Speaker 3: putting on like extra numbers or less numbers on like
• 32:04
  Speaker 3: commsick accounts and stuff like that.
• 32:05
  Speaker 1: Like I actually really need to be it's actually so
• 32:08
  Speaker 1: messed up and you should question everything and That's why
• 32:11
  Speaker 1: it's so beautiful having clients like I adore my job,
• 32:15
  Speaker 1: and as you guys know, I am so obsessed with
• 32:17
  Speaker 1: being financial advisor. I love my clients, I love the
• 32:19
  Speaker 1: work I do, I love the strategy. I feel like
• 32:21
  Speaker 1: it's married all of my favorite things together and I
• 32:24
  Speaker 1: get to do that as a career. But there's one
• 32:27
  Speaker 1: thing that I just can't deal with, and it's when
• 32:29
  Speaker 1: clients coming they're like, no, V, I know you know
• 32:31
  Speaker 1: what you're talking about, and I'm like, no, please sit down.
• 32:33
  Speaker 1: I actually just really want to show you through this. No,
• 32:35
  Speaker 1: don't waste my time, it doesn't matter. I'm like, it
• 32:38
  Speaker 1: matters to me. Like I don't want you to go
• 32:39
  Speaker 1: to a barbecue on a weekend and someone goes, hey, like,
• 32:42
  Speaker 1: where's your financial advisor? Keep xyz? Like I want you
• 32:44
  Speaker 1: to know. And even if you don't use that information
• 32:48
  Speaker 1: and you don't e a log into your portal, I
• 32:50
  Speaker 1: don't care that at least you have that access and
• 32:52
  Speaker 1: you know how to do it. It's kind of like
• 32:55
  Speaker 1: in a relationship when you know, you get a little
• 32:57
  Speaker 1: bit comfortable and your partner's always paying the bills and stuff,
• 33:00
  Speaker 1: but you don't know how to do that, Like, I
• 33:02
  Speaker 1: don't think that's good enough. I think you need to
• 33:04
  Speaker 1: know how to pay the bills, even if it's not
• 33:05
  Speaker 1: your responsibility. Like we always need to be across where
• 33:08
  Speaker 1: our assets are and what's going on and how it
• 33:10
  Speaker 1: works and how we can access them. And I just
• 33:12
  Speaker 1: think that it's so important. So I would say, also
• 33:16
  Speaker 1: be really careful obviously talking to anyone about your finances
• 33:19
  Speaker 1: and just find the right fit for you. But yes,
• 33:21
  Speaker 1: we can move on perfect.
• 33:22
  Speaker 3: I think let's go to a little break because we
• 33:24
  Speaker 3: still have two hot books to get to and this
• 33:27
  Speaker 3: has gone for a really long time, so don't go anyway. Alrighty,
• 33:36
  Speaker 3: welcome back, guys. We've got our two final books to
• 33:39
  Speaker 3: talk through today.
• 33:41
  Speaker 1: Ved we can probably pay a guessing game of what
• 33:43
  Speaker 1: one of those books is, but we'll get to that last.
• 33:46
  Speaker 3: Yeah, yeah, give us numberfore go on.
• 33:49
  Speaker 1: Right, sorry. Number four is one of my other favorites.
• 33:53
  Speaker 1: It's called Think and Grow Rich. I would like to
• 33:56
  Speaker 1: change this book's name Think and Grow Wealthy is why
• 34:00
  Speaker 1: would like to change it too? And it sounds fancy
• 34:02
  Speaker 1: because the guy who wrote this is called Napoleon, so
• 34:05
  Speaker 1: his name's Napoleon Hill and it was written in nineteen.
• 34:07
  Speaker 3: At thirty seven, another old game.
• 34:09
  Speaker 1: Yeah again, grain of salt when we read these books,
• 34:12
  Speaker 1: but they're tried and true for a reason, and they
• 34:16
  Speaker 1: are staples in the investment community for a reason. And
• 34:19
  Speaker 1: it's kind of like, why would you rewrite it? Like
• 34:22
  Speaker 1: I didn't even bother trying because they can't do half
• 34:25
  Speaker 1: as good a job. And the thing that annoys me
• 34:27
  Speaker 1: about this book least is that it's just like men.
• 34:29
  Speaker 1: And that's fine, but I will pump my tires up
• 34:32
  Speaker 1: at the end. But like, because of the time and
• 34:35
  Speaker 1: because of when these books were written and the underlying lessons,
• 34:39
  Speaker 1: like women were not writing books on investing, like that
• 34:42
  Speaker 1: didn't come until like literally, I think the early two
• 34:44
  Speaker 1: thousands was one of the first investing books that was
• 34:47
  Speaker 1: written by a woman. And even then, like we're not
• 34:51
  Speaker 1: naming names or talking about books like it's it's the
• 34:53
  Speaker 1: old formulas. And I really like going back to where
• 34:57
  Speaker 1: did this actually come from? Like if we're going to
• 34:59
  Speaker 1: talk about, you know, these investing methodologies, like which was
• 35:02
  Speaker 1: the book that actually started it? So I can read
• 35:04
  Speaker 1: that so whenever I read another book, I know where
• 35:07
  Speaker 1: those methodologies are coming from. And I think it's important
• 35:10
  Speaker 1: to kind of like get those ducks in a row.
• 35:11
  Speaker 1: But Thing and Grow Rich by Napoleon Hill from nineteen
• 35:14
  Speaker 1: thirty seven is a very good book and has yeah,
• 35:18
  Speaker 1: lots of information in it that I think you will adore.
• 35:20
  Speaker 3: Georgia King to still it down in three sentences, please.
• 35:23
  Speaker 1: Bekay, well before we get there. It's not nearly as
• 35:26
  Speaker 1: dry to read it as The Rich as Nana Babylon
• 35:29
  Speaker 1: or the Intelligent Investor. It's also not as good to
• 35:32
  Speaker 1: read as She's on the Money, which I would argue
• 35:34
  Speaker 1: is of a tone of voice that you and I
• 35:36
  Speaker 1: enjoy slightly more. But first sentence is that Napoleon Hill
• 35:40
  Speaker 1: researched more than forty millionaires to find out what made
• 35:43
  Speaker 1: them the men that they were, right, okay, kind of cool.
• 35:48
  Speaker 1: So this is like a little bit of a different
• 35:51
  Speaker 1: like take on wealth. It's really about looking at, well,
• 35:55
  Speaker 1: how did you get rich? Like you're rich? Obviously they
• 35:58
  Speaker 1: were all men, because millionaire nineteen thirty seven, that could
• 36:02
  Speaker 1: not be a woman.
• 36:03
  Speaker 3: When did women have access to bank accounts? Do you know?
• 36:07
  Speaker 1: I can't tell you that date. But what I can
• 36:10
  Speaker 1: tell you is that my mom is going to be
• 36:12
  Speaker 1: very mad that I'm telling you, guys on a podcast,
• 36:15
  Speaker 1: she's in her sixties. She's probably going to be mad
• 36:17
  Speaker 1: because you wouldn't be able to guess she was in
• 36:19
  Speaker 1: her sixties, so she'd be mad that that information out.
• 36:22
  Speaker 1: But my mom, when she was in her early twenties
• 36:25
  Speaker 1: started a business, and she had to get her dad
• 36:27
  Speaker 1: to co sign at least to actually get her business.
• 36:30
  Speaker 1: So even when my mom, this is like thirty thirty
• 36:33
  Speaker 1: five is years ago, and same thing happened when she
• 36:36
  Speaker 1: wanted to buy her first house even though she had
• 36:39
  Speaker 1: earned all the money herself and wanted to do it
• 36:41
  Speaker 1: all herself. Guys, that wasn't that long ago. Like this
• 36:44
  Speaker 1: is my mom. We're not talking about my grandparents here.
• 36:47
  Speaker 1: We're talking about my mom not being able to run
• 36:50
  Speaker 1: a business because she was a female. Because what would
• 36:53
  Speaker 1: we know that we are? We are women?
• 36:55
  Speaker 3: Wow, give me an next point, Vedra.
• 36:58
  Speaker 1: This is very fluffy point. We like it. Napoleon, good work.
• 37:02
  Speaker 1: He says whatever the mind can conceive and believe the mind.
• 37:05
  Speaker 3: Can achieve, like manifestation.
• 37:07
  Speaker 1: Yeah, I think he was friends with Jessica. And then
• 37:10
  Speaker 1: the number three is opportunity has a sly habit of
• 37:14
  Speaker 1: slipping in by the back door and often is disguised
• 37:17
  Speaker 1: in the form of misfortune or temporary defeat, which is
• 37:21
  Speaker 1: why so many people fail to recognize an opportunity.
• 37:24
  Speaker 3: I love that.
• 37:25
  Speaker 1: I adore that, which is why it made number three.
• 37:28
  Speaker 1: And I think that that's where you know, maykey while
• 37:30
  Speaker 1: the sun's shining, but also always see a negative situation
• 37:35
  Speaker 1: for what it could potentially be, not what it is.
• 37:37
  Speaker 3: Absolutely right, So I love that. So B, would you
• 37:40
  Speaker 3: say this book is more about psychology than like practical.
• 37:43
  Speaker 1: Tips, Yes, absolutely, it's It's definitely about following those forty
• 37:47
  Speaker 1: millionaires and really understanding how they got rich. I would
• 37:50
  Speaker 1: call it probably like a personal development or a self
• 37:53
  Speaker 1: improvement book. And Napoleon, how could that name?
• 37:57
  Speaker 3: It's pretty boss.
• 37:58
  Speaker 1: I'm going to put it on the baby name list
• 37:59
  Speaker 1: for But Napoleon claimed to have written the book after
• 38:03
  Speaker 1: he claimed to be inspired by suggestion from the business
• 38:06
  Speaker 1: magnate and later philanthropist Andrew Carnegie, who you might Haegie Hall. Well, yeah,
• 38:12
  Speaker 1: I'm pretty sure. But he was essentially the person that
• 38:15
  Speaker 1: led the expansion of the American steel industry in the
• 38:17
  Speaker 1: late nineteenth century and became one of the richest Americans
• 38:20
  Speaker 1: in history, which is kind of cool. He then became
• 38:22
  Speaker 1: like a super big philanthropist, so he just gave heaps
• 38:25
  Speaker 1: of money away in the US and in Britain, which
• 38:27
  Speaker 1: is kind of cool. But that book Think and Grow
• 38:29
  Speaker 1: Rich was actually published during the Great Depression and was
• 38:32
  Speaker 1: seen as a book that kind of inspired a lot
• 38:34
  Speaker 1: of people during a period of downturn. And the book
• 38:37
  Speaker 1: was sold more than fifteen million times. Kind of cool. Right,
• 38:41
  Speaker 1: still remains as a top seller, and it remains obviously
• 38:45
  Speaker 1: Napoleon Hill's number one seller. But BusinessWeek magazine best Seller's
• 38:49
  Speaker 1: list actually ranked it as the sixth best selling paperback
• 38:52
  Speaker 1: business book seventy years after it was published. That's incredible.
• 38:56
  Speaker 1: That's pretty cool, says it all. That'll obviously be she's
• 38:59
  Speaker 1: on the money guy. Obviously, seventy years from now, they're
• 39:02
  Speaker 1: gonna be like, who's this girl is talking about bank accounts?
• 39:05
  Speaker 1: They don't even exist anymore yet.
• 39:07
  Speaker 3: True, But you talk me through the five big ideas
• 39:10
  Speaker 3: of this book, all right, so let's just still it down.
• 39:12
  Speaker 1: There were a lot of big ideas in this book
• 39:13
  Speaker 1: that I really really like, and I think you genuinely
• 39:15
  Speaker 1: should read this again because it's one of the less
• 39:17
  Speaker 1: dry books on the list. But the first big idea
• 39:20
  Speaker 1: is that the starting point of all achievement is desire.
• 39:23
  Speaker 1: You've just got to want to do it. And how
• 39:26
  Speaker 1: many people set goals whether they're like, not that motivated
• 39:28
  Speaker 1: to do it, and then they're wondering why they're not
• 39:30
  Speaker 1: achieving things. Next is g again Fluffy, definitely a mindset
• 39:35
  Speaker 1: self improvement book. You are the master of your destiny.
• 39:39
  Speaker 3: I love that.
• 39:39
  Speaker 1: It's kind of cute, but it's also really true. And
• 39:41
  Speaker 1: I really like it because if you look like she's
• 39:43
  Speaker 1: on the money, look at our money diarists and how
• 39:45
  Speaker 1: they change their entire lives like they are the masters
• 39:47
  Speaker 1: of their destiny. And I think that's really powerful. Like
• 39:50
  Speaker 1: you can change your situation. It doesn't matter where you
• 39:52
  Speaker 1: are standing right now, you can do it, and that's
• 39:54
  Speaker 1: really cool. Number three is that when defeat comes accepted
• 39:57
  Speaker 1: as a signal that your plans are not sound, rebuild
• 40:00
  Speaker 1: those plans and set sail once more towards your coveted goal.
• 40:04
  Speaker 1: Lovely you like that one.
• 40:06
  Speaker 3: I loved that one.
• 40:07
  Speaker 1: Yeah. Number four is your greatest success will often come
• 40:10
  Speaker 1: just one step beyond the point and which defeat has
• 40:13
  Speaker 1: overtaken you.
• 40:14
  Speaker 3: This is huge.
• 40:15
  Speaker 1: I feel like it's Fluffye, it's really nice. It's kind
• 40:18
  Speaker 1: of like the two steps forward one step back. Is
• 40:20
  Speaker 1: that the right thing? Maybe I should maybe not use
• 40:23
  Speaker 1: stuff like that. Maybe we should just go with his
• 40:25
  Speaker 1: which was your greatest success will often come just one
• 40:27
  Speaker 1: step beyond the point at which defeat has overtaken you.
• 40:30
  Speaker 1: I just think that's really inspirational. Napoleon, you're a good guy.
• 40:34
  Speaker 1: Would you get a coffee with Napoleon if he's by,
• 40:36
  Speaker 1: of course I would. Yeah, you'd get a coffee with
• 40:38
  Speaker 1: anyone you are supersting. And then number five is set
• 40:42
  Speaker 1: your mind on a definite goal and observe how quickly
• 40:45
  Speaker 1: the world stands aside to let you pass.
• 40:47
  Speaker 3: Set your mind on a definite goal and observe how
• 40:50
  Speaker 3: quickly the world. This isn't going in my brain.
• 40:52
  Speaker 1: It's about flush maindset. It's about if you ask my
• 40:55
  Speaker 1: mama would be about asking the universe for something, like
• 40:58
  Speaker 1: if you want something, you go out and you get it.
• 41:00
  Speaker 1: And it's kind of about what is that theory? It's
• 41:03
  Speaker 1: like the theory of like when you see something, it
• 41:06
  Speaker 1: just starts appearing everywhere. It's like have you ever seen
• 41:08
  Speaker 1: all right, this is gonna get you. Amy Lenardi, if
• 41:11
  Speaker 1: you are listening, high love you. This is our thing.
• 41:13
  Speaker 1: We're always like, do you know what we never see
• 41:16
  Speaker 1: Honda Jazz is in the color yellow? And then do
• 41:19
  Speaker 1: you know what I see everywhere now? Jazz is in
• 41:22
  Speaker 1: the color yellow. So now I text her every time
• 41:24
  Speaker 1: I see a Honda Jazz in the color yellow. Also,
• 41:26
  Speaker 1: if you own one of those and you're in Melbourne
• 41:27
  Speaker 1: and you've seen me just like walking down Smith Street
• 41:30
  Speaker 1: taking a photo of your car, I'm sorry. I was
• 41:32
  Speaker 1: just sending it to Amy because it's our thing. But
• 41:34
  Speaker 1: it's about like setting a clear goal and being really
• 41:37
  Speaker 1: intentionable about that and then everything kind of like and
• 41:41
  Speaker 1: it falls into place. You can find the things you
• 41:43
  Speaker 1: need to find to actually make that happen, Like the
• 41:46
  Speaker 1: world will make it happen if you want it to happen.
• 41:49
  Speaker 1: In a way, it's kind of fluffy. It's very just
• 41:51
  Speaker 1: good re chee, which we love. But it's one of
• 41:53
  Speaker 1: those things where the more you believe it, the more
• 41:56
  Speaker 1: you can achieve it, the more you're like, if you
• 41:57
  Speaker 1: can see it, you can become it kind of vibes.
• 41:59
  Speaker 3: This is big, big inspo.
• 42:01
  Speaker 1: Yeah, it's energy development self development book vibes like it's
• 42:05
  Speaker 1: partly an investment book at the same time as being
• 42:08
  Speaker 1: very much about like setting your mind on things. And
• 42:11
  Speaker 1: you see this in our community all the time when
• 42:13
  Speaker 1: people are like, I've just decided I'm really going to
• 42:15
  Speaker 1: pay off this debt, and then they end up achieving
• 42:17
  Speaker 1: it early because they pick up another option or an
• 42:19
  Speaker 1: opportunity to like have a side hustle or do something.
• 42:22
  Speaker 1: And it's let's be honest, it actually all distills down
• 42:25
  Speaker 1: to you actually doing what you said you were going
• 42:27
  Speaker 1: to do. The world isn't actually spoon feeding you this stuff.
• 42:30
  Speaker 1: It's about you finding a way in the world to
• 42:32
  Speaker 1: get this done. And that's kind of cool. But we
• 42:35
  Speaker 1: could be a bit fluffy about it. Yeah.
• 42:36
  Speaker 3: Absolutely. It's worth noting that three out of the five
• 42:39
  Speaker 3: books that we've chosen to speak about today are between
• 42:43
  Speaker 3: sixty and seventy years old.
• 42:44
  Speaker 1: Yeah, they're real old, and that's kind of how I
• 42:47
  Speaker 1: am on the inside.
• 42:48
  Speaker 2: Yeah.
• 42:48
  Speaker 3: Yeah.
• 42:49
  Speaker 1: And also I feel like I could have gone through
• 42:51
  Speaker 1: and picked a whole heap of books from people I
• 42:53
  Speaker 1: really love, Like I could have picked Glenn James's book
• 42:55
  Speaker 1: Sought Your Money Out Now, which is a friggin good book,
• 42:58
  Speaker 1: Like if you haven't read that, absolutely should be reading that.
• 43:01
  Speaker 1: And maybe that can be like the honorary sixth book
• 43:04
  Speaker 1: on this list of five but love your Glennie. But
• 43:07
  Speaker 1: it's one of those things where I just really wanted
• 43:09
  Speaker 1: to pick books that were really about mindset and putting
• 43:11
  Speaker 1: you in the right position to take control of your
• 43:13
  Speaker 1: life because it's easy, Like the investing part is easy,
• 43:17
  Speaker 1: and I don't want to make it sound so easy
• 43:19
  Speaker 1: that I'm being condescending, but it is really easy once
• 43:22
  Speaker 1: you have a goal, you have a mindset, and you
• 43:24
  Speaker 1: have the right mentality around investing and creating wealth and
• 43:27
  Speaker 1: changing your life, Like it's not hard, but the hard
• 43:31
  Speaker 1: thing is getting yourself mentally to that stage where you
• 43:34
  Speaker 1: can sacrifice things, because in order to create wealth, we
• 43:36
  Speaker 1: do have to have some level of sacrifice. Like it
• 43:39
  Speaker 1: is you putting off something that you could have today, George,
• 43:42
  Speaker 1: so you can have a bigger, better one later down
• 43:44
  Speaker 1: the track. Yeah, And that mentality is really hard to
• 43:47
  Speaker 1: actually come by. It's so easy to say it's so
• 43:49
  Speaker 1: easy to put on a podcast, but it's actually really
• 43:52
  Speaker 1: hard to be putting today you in a control seat
• 43:55
  Speaker 1: where you just say oh no, like I would like
• 43:57
  Speaker 1: another coffee, or I would really like to buy that top,
• 43:59
  Speaker 1: and you're saying no to you today, so that future
• 44:02
  Speaker 1: you can have a better future. Like that's a really
• 44:04
  Speaker 1: hard mentality to actually grasp and take hold and actually
• 44:07
  Speaker 1: put yourself in that control seat of So think for
• 44:10
  Speaker 1: what I do. I really wanted to pick books that
• 44:13
  Speaker 1: put you in that control seat so that when you
• 44:15
  Speaker 1: do read books like sort your Money out Now or
• 44:17
  Speaker 1: She's on the Money, which we're going to talk about now,
• 44:20
  Speaker 1: you're ready to take control and you're ready to actually
• 44:22
  Speaker 1: implement all of those things, and you're going to be
• 44:24
  Speaker 1: so much more successful. So that's why my book list
• 44:27
  Speaker 1: or my reading list is definitely a little bit more dated.
• 44:31
  Speaker 1: But with dated comes tried and true strategy and philosophy
• 44:34
  Speaker 1: and things that you know, all of the stuff we've
• 44:36
  Speaker 1: talked about today, George, it's still tried and true today,
• 44:40
  Speaker 1: except for the property parts, which you know, we know
• 44:42
  Speaker 1: about the avocados.
• 44:43
  Speaker 3: Ye're all good, Yeah, So the basics down the test
• 44:46
  Speaker 3: of time.
• 44:46
  Speaker 1: They do. Indeed, my friend.
• 44:47
  Speaker 3: Tell us now, miss Victoria Devine about our final book
• 44:51
  Speaker 3: of today, which is, of course she is on the Money.
• 44:54
  Speaker 3: By Victoria Divine.
• 44:56
  Speaker 1: Oh my gosh, I think is the greatest book to
• 44:58
  Speaker 1: have ever been written ever.
• 45:00
  Speaker 3: Well, can you tell me a little bit about why
• 45:02
  Speaker 3: you wrote it?
• 45:03
  Speaker 1: Why did I write it? I wrote it because I
• 45:06
  Speaker 1: was afforded this beautiful opportunity to take our community and
• 45:12
  Speaker 1: our podcast and all of the knowledge I have as
• 45:14
  Speaker 1: a financial advisor and put it in a book. Never
• 45:17
  Speaker 1: in my wildest dreams did I think that I would
• 45:19
  Speaker 1: be an author, Like, that's crazy. I used to make
• 45:22
  Speaker 1: kids books when I was like in primary school. Yeah,
• 45:25
  Speaker 1: and I used to like fold over the colored paper
• 45:28
  Speaker 1: and have them as the cover on the front, and
• 45:30
  Speaker 1: like to make it like more legit. I would like
• 45:32
  Speaker 1: use heaps of tape in like strips so it could
• 45:34
  Speaker 1: be like a laminated front cover, and I draw them anyway.
• 45:37
  Speaker 1: I loved books, and I wanted to have my own,
• 45:40
  Speaker 1: and this idea that I could have a book was crazy.
• 45:44
  Speaker 1: And so when I got approached by our publishers at Penguin,
• 45:48
  Speaker 1: obviously that is so cool to be approached to write
• 45:51
  Speaker 1: a book, I just knew that I didn't want it
• 45:53
  Speaker 1: to be a book where I was like, cool, let's
• 45:55
  Speaker 1: just chuck my brand on something. It was like I
• 45:57
  Speaker 1: could change people's lives, Like you look at the foot
• 46:00
  Speaker 1: Investor and you go, that changed people's lives, and that
• 46:04
  Speaker 1: book wasn't even putting them in the best possible position ever,
• 46:07
  Speaker 1: Like how cool would it be if I could do that?
• 46:09
  Speaker 1: And how cool would it be if I could collect
• 46:11
  Speaker 1: up all of these gems of knowledge that have been
• 46:14
  Speaker 1: shared in our community but also have been shared, you know,
• 46:17
  Speaker 1: by me having worked as a financial advisor, and just
• 46:20
  Speaker 1: even stuff like my banking structure. People were raving about
• 46:23
  Speaker 1: it when I would just share like a random PDF
• 46:25
  Speaker 1: in our Facebook group and I'd be like, well, this
• 46:26
  Speaker 1: is how I do my banking, and I think you
• 46:28
  Speaker 1: could really benefit from this, to be like Pictorioa's has
• 46:30
  Speaker 1: changed my life, the idea that that could then be
• 46:33
  Speaker 1: on scale, and that it's now in literally in the
• 46:37
  Speaker 1: homes of thousands and thousands of people, and we've won
• 46:39
  Speaker 1: awards for this book, Like what very very cool, George.
• 46:43
  Speaker 1: It's sick and I'm nearly done. I am actually done.
• 46:46
  Speaker 1: We're going through the like copywriting process at the moment.
• 46:49
  Speaker 1: Because it turns out I might be good at the
• 46:51
  Speaker 1: logistics of a book. I might be good at the
• 46:53
  Speaker 1: stats and facts I'm not nearly as fun as I
• 46:55
  Speaker 1: would like to be, especially because we have investing wishes
• 46:58
  Speaker 1: on the money coming out in sept We're going through
• 47:01
  Speaker 1: that process. But like the idea, we have a second book,
• 47:04
  Speaker 1: Hu Wild Hue, so proud, but so wild. But I
• 47:07
  Speaker 1: wrote it because I actually just wanted to take all
• 47:10
  Speaker 1: of these nuggets of wisdom and gift them to you
• 47:12
  Speaker 1: in one really easy to read book that spoke to
• 47:16
  Speaker 1: you in your language in a way that was not overwhelming,
• 47:20
  Speaker 1: in a way that felt like I was on the
• 47:22
  Speaker 1: journey with you and put you in a position to
• 47:24
  Speaker 1: actually take charge of your financial future. So we're not
• 47:27
  Speaker 1: talking about like, oh my god, go and invest in X,
• 47:29
  Speaker 1: Y and Z and making these things really complicated. We're
• 47:31
  Speaker 1: not just talking about, you know, investing mindset. I would
• 47:34
  Speaker 1: really love to think that I've brought all those things
• 47:36
  Speaker 1: together and then structured the book in a way where
• 47:39
  Speaker 1: each single chapter is a different step to put you
• 47:42
  Speaker 1: on a better path. Which is why at the end
• 47:44
  Speaker 1: of my book, if you've probably not read it, because
• 47:46
  Speaker 1: why would you bother? You have to deal with me
• 47:48
  Speaker 1: every day or two. At the end of the book,
• 47:50
  Speaker 1: there's like a twelve month action plan, So every single
• 47:53
  Speaker 1: month kind of aligns to one of the chapters to
• 47:55
  Speaker 1: put you in a better position. So one month we
• 47:57
  Speaker 1: do super and one when we do investments, and one
• 47:59
  Speaker 1: month we do insurance, and like, I'm putting you in
• 48:01
  Speaker 1: the best possible position to be as financially successful as
• 48:05
  Speaker 1: you possibly can be. And that actually just starts with
• 48:08
  Speaker 1: really good foundations. And I would love, love, love to
• 48:11
  Speaker 1: think that this book is all about getting those foundations right.
• 48:15
  Speaker 3: So you don't need to know very much about money,
• 48:17
  Speaker 3: or you don't need to have been in the community.
• 48:19
  Speaker 1: For very long, so you don't need to get the
• 48:21
  Speaker 1: community to pick it up and get lots out of it.
• 48:23
  Speaker 1: I have made sure that every single chapter has one
• 48:26
  Speaker 1: or two like snippets of money diaries so that you
• 48:28
  Speaker 1: really can connect in and be like, Wow, if they
• 48:30
  Speaker 1: can do it, I can do it. And Yeah, it
• 48:33
  Speaker 1: really starts with mindset and then goes into the framework.
• 48:35
  Speaker 1: And I think that that's how I would want everyone
• 48:38
  Speaker 1: to go on that journey and to be given the
• 48:40
  Speaker 1: opportunity to write a book that I was completely in
• 48:43
  Speaker 1: control of that goes all right. If g I was
• 48:47
  Speaker 1: going to give you one resource when it came to money.
• 48:50
  Speaker 1: This is it? Like, that's it. That's where I came from.
• 48:53
  Speaker 3: I know you're very modest and you won't want to
• 48:55
  Speaker 3: your own horn too much here.
• 48:57
  Speaker 1: I mean, I feel like I just did that. I
• 48:59
  Speaker 1: feel like that that was pretty good. Tell me Cheating
• 49:02
  Speaker 1: of Horn.
• 49:03
  Speaker 3: Tell me about the impact you've heard along the journey,
• 49:05
  Speaker 3: about this book, the change that it's made. I'm sure
• 49:08
  Speaker 3: you've had.
• 49:08
  Speaker 1: I cry a lot sometimes I read the reviews, but
• 49:14
  Speaker 1: to read reviews because people can be really mean. But
• 49:18
  Speaker 1: it's really about the dms and messages and do you
• 49:21
  Speaker 1: know what, we've started getting handwritten letters if people writing
• 49:24
  Speaker 1: to us to be like, hey, Victoria, I wanted to
• 49:26
  Speaker 1: send you a letter. I hope you don't mind. I
• 49:28
  Speaker 1: found your address, like like obvious address, or they're not
• 49:31
  Speaker 1: out the front of my house, but they're on like
• 49:34
  Speaker 1: obviously you can find my business address online. It's not
• 49:36
  Speaker 1: that hard. Just explaining how much their lives have changed,
• 49:40
  Speaker 1: or that they've gotten out of, you know, financially abusive
• 49:43
  Speaker 1: relationships or situations they don't want to be in, or
• 49:45
  Speaker 1: they've taken the next step. Like I got a message
• 49:48
  Speaker 1: from a girl that I know has been in our
• 49:49
  Speaker 1: Facebook group from the very beginning a couple of weeks ago,
• 49:51
  Speaker 1: and she's like, Victoria, I know that we dam all
• 49:54
  Speaker 1: the time, but I just wanted to really say thank
• 49:56
  Speaker 1: you because I have just negotiated a pay rise that
• 49:59
  Speaker 1: I never thought I would be able to get, and
• 50:02
  Speaker 1: it was because I implemented all the tips and tricks
• 50:04
  Speaker 1: you taught me. And I also then had the audacity,
• 50:07
  Speaker 1: which I don't think it was audacity, but she said
• 50:09
  Speaker 1: this had the audacity to ask to be back paid
• 50:12
  Speaker 1: because I'd been doing that role for twelve months and
• 50:13
  Speaker 1: now she got it. Really Now she's like so much
• 50:16
  Speaker 1: closer to buying her first home, and just like people
• 50:19
  Speaker 1: are in better positions because of this book. And that's
• 50:21
  Speaker 1: all I could ask. Yeah, because you definitely, George, like
• 50:24
  Speaker 1: I don't know what everybody thinks, but you definitely don't
• 50:27
  Speaker 1: write a book to make money, Like I would need
• 50:29
  Speaker 1: to sell millions of copies, and I would be so
• 50:31
  Speaker 1: delighted to sell millions of copies, but you literally need
• 50:35
  Speaker 1: to sell all millions, which we obviously haven't done yet.
• 50:39
  Speaker 1: Is that pity tickets would? But like at that point,
• 50:42
  Speaker 1: maybe I'll make some serious money. But you don't write
• 50:45
  Speaker 1: books in Australia to make money. It's just like the
• 50:47
  Speaker 1: publishing industry is just not big enough to sustain that.
• 50:49
  Speaker 1: But you write one because you really want to have
• 50:51
  Speaker 1: an impact and you really want to connect with your community.
• 50:53
  Speaker 1: And I'm just so grateful I got to do that.
• 50:55
  Speaker 3: Beautiful before we go, we'll give you another plug v
• 50:58
  Speaker 3: Investor because they didn't have enough just then investing with
• 51:02
  Speaker 3: Shees on the money drops September twenty I believe they got.
• 51:06
  Speaker 1: Two days before my sister's birthday.
• 51:07
  Speaker 3: Guess she's exactly right. A signed copy.
• 51:10
  Speaker 1: Oh no, no, no no, I'm just going to order one
• 51:12
  Speaker 1: on book Topia and have it delivered to a house side.
• 51:15
  Speaker 3: I love it.
• 51:16
  Speaker 1: You have to bring that to me to ask for permission, Alexandra.
• 51:19
  Speaker 3: It is available for pre order now and if you
• 51:22
  Speaker 3: do pre order, you'll receive twenty percent off. I believe
• 51:25
  Speaker 3: that's the hot deal going onto the market deal going around. Also,
• 51:29
  Speaker 3: it makes me look really good to my publisher, So
• 51:31
  Speaker 3: feel free to go on and pre order it. Because
• 51:33
  Speaker 3: publishers they love a pre order because it like ramps
• 51:37
  Speaker 3: it up.
• 51:37
  Speaker 1: And it means that once the book launches, we're more
• 51:40
  Speaker 1: likely to get a better launch party. So just like
• 51:42
  Speaker 1: do the right thing, do the right thing. Yeah, we
• 51:44
  Speaker 1: love it for the greater good.
• 51:46
  Speaker 3: Let's leave it there, VD, thank you for today. I'm
• 51:48
  Speaker 3: going to run.
• 51:50
  Speaker 1: But important stuff you get into it.
• 51:51
  Speaker 3: Alrighty guys, Remember the advice shared on She's on the
• 51:54
  Speaker 3: Money is general in nature and does not consider your
• 51:57
  Speaker 3: individual circumstances. She's on the Money exists, it's purely for
• 52:00
  Speaker 3: educational purposes and should not be relied upon to make
• 52:03
  Speaker 3: an investment or a financial decision. And we promise Victoria
• 52:07
  Speaker 3: Devine and She's on the Money are authorized representatives of
• 52:11
  Speaker 3: in Focused Securities Australia Proprietary Limited ABN four seven zero
• 52:15
  Speaker 3: nine seven seven nine seven zero four nine AFSL two
• 52:19
  Speaker 3: three six five two three.
• 52:20
  Speaker 1: And as always, we would love it if you joined
• 52:23
  Speaker 1: our Facebook group, where our community shares money tips and
• 52:25
  Speaker 1: tricks every single day, free of judgment. So She's on
• 52:29
  Speaker 1: the Money on Facebook and join us if Facebook's not
• 52:31
  Speaker 1: your thing. Let's just segue this all the way back
• 52:33
  Speaker 1: to the book. Go pre order our book. It's a
• 52:35
  Speaker 1: great idea. You can just read it in paper and
• 52:38
  Speaker 1: you don't have to interact with anyone on the internet.
• 52:40
  Speaker 1: Perfection Also find us on Instagram where she is on
• 52:42
  Speaker 1: the money a US. Don't forget to rate, redew and
• 52:44
  Speaker 1: subscribe and tell Georgia she is very pretty in her DMS.
• 52:47
  Speaker 1: Fust see you next week.
• 52:48
  Speaker 3: Thys Guys buy